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Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Real estate assets and lease intangibles:    
Land $ 49,965,418 $ 40,422,812
Buildings and improvements 177,360,584 128,719,410
Tenant improvements 19,876,549 13,164,998
Lease intangibles 13,845,100 9,793,814
Real estate assets and lease intangibles, cost 261,047,651 192,101,034
Accumulated depreciation and amortization (29,961,472) (23,011,006)
Real estate assets and lease intangibles, net 231,086,179 169,090,028
Real estate assets held for sale, net   29,107,675
Cash and cash equivalents 6,626,423 5,636,002
Restricted cash 6,759,786 4,086,498
Deferred leasing and financing costs, net 5,141,312 5,438,857
Goodwill 2,423,000 2,423,000
Other assets, net 5,895,991 4,842,878
TOTAL ASSETS 257,932,691 220,624,938
Liabilities:    
Mortgage notes payable 144,690,570 106,966,774
Mortgage notes payable related to assets held for sale   16,932,524
Accounts payable and accrued liabilities 7,458,761 5,185,250
Accrued real estate taxes 2,401,770 1,446,554
Dividends payable 1,063,454 997,175
Below-market rent 2,154,479 960,328
Total liabilities $ 192,769,034 $ 149,088,605
Commitments and contingencies
Equity:    
Additional paid-in capital $ 146,712,853 $ 143,715,876
Dividends in excess of accumulated losses (93,821,328) (83,150,866)
Total stockholders' equity before noncontrolling interest 53,063,548 60,733,884
Noncontrolling interest 12,100,109 10,802,449
Total equity 65,163,657 71,536,333
TOTAL LIABILITIES AND EQUITY 257,932,691 220,624,938
Redeemable Convertible Preferred Stock Series B [Member]    
Liabilities:    
Mandatorily redeemable Series B Preferred Stock, $0.01 par value, $1,000 liquidating preference; shares authorized: 35,000; shares issued and outstanding at December 31, 2015 and 2014: 35,000 and 16,600, respectively 35,000,000 16,600,000
Common Class A [Member]    
Equity:    
Common stock - Series A, $0.01 par value; shares authorized: 100,000,000; shares issued and outstanding at December 31, 2015 and 2014: 17,202,228 and 16,887,377, respectively $ 172,023 $ 168,874