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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 18,544,000 $ 21,564,000 $ 24,249,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of real estate, net (4,327,000) (5,262,000) (9,837,000)
Impairment loss     153,000
Increase in unbilled rent receivable (1,547,000) (1,156,000) (794,000)
Write-off of unbilled rent receivable 585,000 1,514,000 362,000
Bad debt expense   684,000 291,000
Amortization and write-off of intangibles relating to leases, net (914,000) (1,849,000) (897,000)
Amortization of restricted stock expense 3,870,000 3,510,000 3,133,000
Equity in earnings of unconsolidated joint ventures (16,000) (1,304,000) (826,000)
Equity in earnings from sale of unconsolidated joint venture properties   (2,057,000)  
Distributions of earnings from unconsolidated joint ventures 97,000 2,341,000 656,000
Depreciation and amortization 22,026,000 24,155,000 20,993,000
Amortization and write-off of deferred financing costs 995,000 985,000 977,000
Payment of leasing commissions (523,000) (442,000) (168,000)
Decrease (increase) in escrow, deposits, other assets and receivables 129,000 (1,183,000) 252,000
(Decrease) increase in accrued expenses and other liabilities (2,687,000) 1,146,000 5,885,000
Net cash provided by operating activities 36,232,000 42,646,000 44,429,000
Cash flows from investing activities:      
Purchase of real estate (49,887,000) (80,290,000) (43,537,000)
Improvements to real estate (3,514,000) (7,311,000) (6,565,000)
Net proceeds from sale of real estate 40,761,000 27,088,000 26,301,000
Contributions of capital to unconsolidated joint venture (296,000)    
Distributions of capital from unconsolidated joint ventures 11,000 852,000 357,000
Net cash used in investing activities (12,925,000) (59,661,000) (23,444,000)
Cash flows from financing activities:      
Scheduled amortization payments of mortgages payable (13,158,000) (11,081,000) (10,520,000)
Repayment of mortgages payable (19,970,000) (24,502,000) (12,936,000)
Proceeds from mortgage financings 50,310,000 61,733,000 21,210,000
Proceeds from sale of common stock, net 5,200,000 3,138,000 5,570,000
Proceeds from bank line of credit 54,550,000 74,500,000 47,000,000
Repayment on bank line of credit (73,100,000) (53,900,000) (47,600,000)
Issuance of shares through dividend reinvestment plan 5,712,000 5,990,000 4,534,000
Payment of financing costs (1,443,000) (1,182,000) (160,000)
Capital contributions from non-controlling interests     20,000
Distributions to non-controlling interests (752,000) (1,195,000) (181,000)
Cash distributions to common stockholders (35,421,000) (34,421,000) (31,704,000)
Net cash (used in) provided by financing activities (28,072,000) 19,080,000 (24,767,000)
Net (decrease) increase in cash, cash equivalents and restricted cash (4,765,000) 2,065,000 (3,782,000)
Cash, cash equivalents and restricted cash at beginning of year 16,733,000 14,668,000 18,450,000
Cash, cash equivalents and restricted cash at end of period 11,968,000 16,733,000 14,668,000
Supplemental disclosures of cash flow information:      
Cash paid during the year for interest expense 19,976,000 17,783,000 17,777,000
Supplemental disclosure of non-cash investing activities:      
Right of use assets and related lease liabilities 5,027,000    
Purchase accounting allocation - intangible lease assets 4,245,000 4,435,000 4,009,000
Purchase accounting allocation - intangible lease liabilities $ (915,000) $ (2,508,000) $ (158,000)