XML 57 R42.htm IDEA: XBRL DOCUMENT v3.8.0.1
REAL ESTATE INVESTMENTS AND MINIMUM FUTURE RENTALS (Details) - USD ($)
1 Months Ended 12 Months Ended
Mar. 31, 2015
Aug. 31, 2017
Jul. 31, 2017
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Real Estate Acquisitions            
Contract purchase price (real estate)       $ 43,150,000 $ 118,578,000  
Third Party Real Estate Acquisition Costs         596,000 $ 449,000
Third Party Real Estate Acquisition Costs       387,000    
Allocation of purchase price for the company's real estate acquisitions            
Land       3,531,000 35,484,000  
Building       35,297,000 79,216,000  
Building Improvements       858,000 1,983,000  
Intangible Lease Asset       4,009,000 8,194,000  
Intangible Lease Liability       (158,000) (6,288,000)  
Total       $ 43,537,000 $ 118,589,000  
Weighted average amortization period for intangible lease assets       6 years 9 months 18 days 9 years 3 months 18 days  
Weighted average amortization period for intangible lease liabilities       12 years 2 months 12 days 13 years  
Above market lease accumulated amortization       $ 17,542,000 $ 16,074,000  
Below market lease accumulated amortization       7,849,000 6,386,000  
Net rental income due to amortization of the above/below market leases       897,000 712,000 723,000
Future amortization income of below market leases            
Deferred rental income       3,623,000 2,379,000 1,458,000
Minimum future contractual rents to be received            
2018       64,412,000    
2019       62,360,000    
2020       60,035,000    
2021       56,965,000    
2022       47,434,000    
Thereafter       176,838,000    
Total       468,044,000    
Unbilled Rent Receivable            
Unbilled rent receivable       $ 14,125,000 13,797,000  
Period during which amount of unbilled rent receivable is to be billed and received       24 years    
Unbilled straight-line rent receivable written off related to property sold       $ 105,000 2,060,000  
Unbilled rent straight-line rent receivable written off related to tenant filed bankruptcy       362,000 7,000 89,000
Unbilled straight-line rent receivable written off related to lease termination fees           477,000
Lease Termination Fees            
Lease termination fee received from tenants in a lease buy-out transaction           2,886,000
Write-off of entire balance of the unbilled rent receivable and the intangible lease asset           530,000
Purchase of Partner's 50% Interest            
Purchase of partner's interest in unconsolidated joint venture           6,300,000
Rental income            
Future amortization income of below market leases            
2018       1,794,000    
2019       1,781,000    
2020       1,629,000    
2021       1,593,000    
2022       1,468,000    
Thereafter       9,286,000    
Total       17,551,000    
Amortization expense            
Allocation of purchase price for the company's real estate acquisitions            
Amortization expense relating to origination costs       4,984,000 3,612,000 $ 3,467,000
Amortization of intangible lease assets            
2018       4,056,000    
2019       3,669,000    
2020       3,435,000    
2021       3,168,000    
2022       2,672,000    
Thereafter       9,232,000    
Total       26,232,000    
Intangible lease asset - above market lease | Rental income            
Amortization of intangible lease assets            
2018       748,000    
2019       646,000    
2020       620,000    
2021       614,000    
2022       448,000    
Thereafter       1,217,000    
Total       4,293,000    
Forbo industrial facility, Huntersville, North Carolina            
Real Estate Acquisitions            
Contract purchase price (real estate)       8,700,000    
Mortgage incurred       5,190,000    
Third Party Real Estate Acquisition Costs       72,000    
Allocation of purchase price for the company's real estate acquisitions            
Land       1,046,000    
Building       6,452,000    
Building Improvements       222,000    
Intangible Lease Asset       1,052,000    
Total       8,772,000    
Saddle Creek Logistics industrial facility, Pittston, Pennsylvania            
Real Estate Acquisitions            
Contract purchase price (real estate)       11,750,000    
Mortgage incurred   $ 7,200,000        
Third Party Real Estate Acquisition Costs       199,000    
Allocation of purchase price for the company's real estate acquisitions            
Land       999,000    
Building       9,675,000    
Building Improvements       247,000    
Intangible Lease Asset       1,028,000    
Total       11,949,000    
Corporate Woods industrial facility, Ankeny, Iowa            
Real Estate Acquisitions            
Contract purchase price (real estate)       14,700,000    
Mortgage incurred     $ 8,820,000      
Third Party Real Estate Acquisition Costs       29,000    
Allocation of purchase price for the company's real estate acquisitions            
Land       1,351,000    
Building       11,420,000    
Building Improvements       187,000    
Intangible Lease Asset       1,929,000    
Intangible Lease Liability       (158,000)    
Total       14,729,000    
Dufresne Spencer Group industrial facility, Memphis, Tennessee            
Real Estate Acquisitions            
Contract purchase price (real estate)       8,000,000    
Third Party Real Estate Acquisition Costs       87,000    
Allocation of purchase price for the company's real estate acquisitions            
Land       135,000    
Building       7,750,000    
Building Improvements       202,000    
Total       $ 8,087,000    
Multi-tenant industrial facility, Greenville, South Carolina - 1            
Real Estate Acquisitions            
Contract purchase price (real estate)         8,100,000  
Third Party Real Estate Acquisition Costs         80,000  
Allocation of purchase price for the company's real estate acquisitions            
Land         693,000  
Building         6,718,000  
Building Improvements         175,000  
Intangible Lease Asset         514,000  
Total         8,100,000  
Multi-tenant industrial facility, Greenville, South Carolina - 2            
Real Estate Acquisitions            
Contract purchase price (real estate)         8,950,000  
Third Party Real Estate Acquisition Costs         81,000  
Allocation of purchase price for the company's real estate acquisitions            
Land         528,000  
Building         7,893,000  
Building Improvements         181,000  
Intangible Lease Asset         441,000  
Intangible Lease Liability         (93,000)  
Total         8,950,000  
Toro distribution facility, El Paso, Texas            
Real Estate Acquisitions            
Contract purchase price (real estate)         23,695,000  
Third Party Real Estate Acquisition Costs         72,000  
Allocation of purchase price for the company's real estate acquisitions            
Land         3,691,000  
Building         17,525,000  
Building Improvements         379,000  
Intangible Lease Asset         2,100,000  
Total         23,695,000  
4 Advanced Auto retail locations, Ohio            
Real Estate Acquisitions            
Contract purchase price (real estate)         6,523,000  
Third Party Real Estate Acquisition Costs         80,000  
Mortgage incurred         4,300,000  
Allocation of purchase price for the company's real estate acquisitions            
Land         653,000  
Building         5,012,000  
Building Improvements         189,000  
Intangible Lease Asset         912,000  
Intangible Lease Liability         (243,000)  
Total         6,523,000  
The Briarbrook Village Apartments Wheaton, Illinois            
Real Estate Acquisitions            
Contract purchase price (real estate)         10,530,000  
Third Party Real Estate Acquisition Costs         6,000  
Allocation of purchase price for the company's real estate acquisitions            
Land         10,536,000  
Total         10,536,000  
Burlington Coat and Micro Center retail stores, St. Louis Park, Minnesota            
Real Estate Acquisitions            
Contract purchase price (real estate)         14,150,000  
Third Party Real Estate Acquisition Costs         74,000  
Allocation of purchase price for the company's real estate acquisitions            
Land         3,388,000  
Building         12,632,000  
Building Improvements         456,000  
Intangible Lease Asset         651,000  
Intangible Lease Liability         (2,977,000)  
Total         14,150,000  
The Vue Apartments, Beachwood, Ohio            
Real Estate Acquisitions            
Contract purchase price (real estate)         13,896,000  
Third Party Real Estate Acquisition Costs         5,000  
Allocation of purchase price for the company's real estate acquisitions            
Land         13,901,000  
Total         13,901,000  
Famous Footwear distribution facility, Lebanon, Tennessee            
Real Estate Acquisitions            
Contract purchase price (real estate)         32,734,000  
Third Party Real Estate Acquisition Costs         195,000  
Mortgage incurred         21,288,000  
Allocation of purchase price for the company's real estate acquisitions            
Land         2,094,000  
Building         29,436,000  
Building Improvements         603,000  
Intangible Lease Asset         3,576,000  
Intangible Lease Liability         (2,975,000)  
Total         32,734,000  
Represents the retail property located in Lincoln, Nebraska acquired by the entity.            
Purchase of Partner's 50% Interest            
Purchase of partner's interest in unconsolidated joint venture $ 6,300,000          
Contract price directly paid to the partner of unconsolidated joint venture 2,636,000          
payment made to underlying mortgage of the unconsolidated joint venture $ 3,664,000          
Represents the retail property located in Lincoln, Nebraska acquired by the entity. | Unconsolidated joint ventures            
Purchase of Partner's 50% Interest            
Percentage of equity method investments acquired 50.00%          
Represents the retail property located in Lincoln, Nebraska acquired by the entity. | Consolidated JV            
Purchase of Partner's 50% Interest            
Purchase price fair value adjustment $ 960,000          
Other (n)            
Real Estate Acquisitions            
Third Party Real Estate Acquisition Costs         $ 14,000