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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income (loss) $ 877,255 $ (1,598,862)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization from continuing operations 5,560,525 4,628,732
Depreciation and amortization from discontinued operations 165,646  
Stock compensation 350,014 298,546
Bad debt expense   95,790
Gain on sales of real estate assets and partnerships, net (5,936,010) (1,507,155)
Real estate asset impairment   950,000
Amortization of financing costs 941,836 474,009
Amortization of above-market rent 161,163 138,229
Amortization of below-market rent (94,196) (21,036)
Changes in operating assets and liabilities:    
Other assets (848,166) 146,347
Accounts payable and accrued liabilities 1,296,112 408,354
Net cash provided by operating activities 2,474,179 4,012,954
Cash flows from investing activities:    
Real estate acquisitions (42,528,263) (17,509,525)
Building and tenant improvements (2,354,988) (1,978,375)
Deferred leasing costs (332,927) (336,632)
Proceeds received from sale of real estate assets and partnerships 37,101,304 13,094,596
Restricted cash (2,502,108) (8,778,384)
Net cash used in investing activities (10,616,982) (15,508,320)
Cash flows from financing activities:    
Proceeds from mortgage notes payable, net of issuance costs 33,429,870 22,142,153
Repayment of mortgage notes payable (29,723,904) (12,866,440)
Proceeds from issuance of mandatorily redeemable preferred stock, net of offering costs 13,400,000 12,275,748
Proceeds from issuance of common stock 49,999  
Distributions paid to noncontrolling interests in excess of contributions received (63,359) (2,671,269)
Repurchase of common stock (147,774) (212,212)
Redemption of Series 6.3% preferred stock   (1,649,266)
Dividends paid to stockholders (3,291,978) (3,837,162)
Net cash provided by financing activities 13,652,854 13,181,552
Net increase in cash and cash equivalents 5,510,051 1,686,186
Cash and cash equivalents - beginning of period 5,636,002 10,207,001
Cash and cash equivalents - end of period 11,146,053 11,893,187
Supplemental disclosure of cash flow information:    
Interest paid Series B preferred stock 2,244,411 201,666
Interest paid-mortgage notes payable 4,542,269 3,936,607
Non-cash investing and financing activities:    
Reinvestment of cash dividends 2,009,916 2,647,443
Accrual of dividends payable $ 829,856 997,175
Conversion of partnership interests into common stock   $ 165,018