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Discontinued Operations | 12 Months Ended
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Dec. 31, 2016
Discontinued Operations And Disposal Groups [Abstract] |
Discontinued Operations | Note 4 –Discontinued Operations The following is a summary of the components of income from discontinued operations applicable to properties classified as such prior to the adoption in 2014 of guidance for reporting discontinued operations:
|  | Years ended December 31, |
|  | 2015 |  |  | 2014 |
REVENUES |  |  |  |  |  |  |  |
Rents |  | $ | 38,000 |  |  | $ | 2,698,000 |
Expense recoveries and other |  |  | 1,000 |  |  |  | 918,000 |
Total revenues |  |  | 39,000 |  |  |  | 3,616,000 |
EXPENSES |  |  |  |  |  |  |  |
Operating, maintenance and management |  |  | 20,000 |  |  |  | 783,000 |
Real estate and other property related-taxes |  |  | 7,000 |  |  |  | 555,000 |
Interest |  |  | — |  |  |  | 631,000 |
Total expenses |  |  | 27,000 |  |  |  | 1,969,000 |
Income from operations |  |  | 12,000 |  |  |  | 1,647,000 |
Impairment reversals |  |  | 153,000 |  |  |  | 47,000 |
Gain on extinguishment of debt obligations |  |  | — |  |  |  | 1,423,000 |
Gain on sales |  |  | — |  |  |  | 7,963,000 |
Total income from discontinued operations |  | $ | 165,000 |  |  | $ | 11,080,000 |
2015 Transaction On February 2, 2015, the Company sold Huntingdon Plaza, located in Huntingdon, Pennsylvania, for $2.2 million. 2014 Transactions During 2014, the Company sold or conveyed the following properties classified as discontinued operations:
|  |  |  | Date |  | Sales |  |  | Gain on |
Property |  | Location |  | Sold |  | Price |  |  | Sale |
Harbor Square (f/k/a Shore Mall) |  | Egg Harbor, NJ |  | 2/25/2014 |  | $ | 25,000,000 |  |  | $ | - |
McCormick Place |  | Olmstead, OH |  | 5/6/2014 |  |  | 2,679,000 |  | (a) |  | — |
Gahanna Discount Drug Mart Plaza |  | Columbus, OH |  | 5/27/2014 |  |  | 4,982,000 |  | (a) |  | — |
Townfair Center |  | Indiana, PA |  | 5/29/2014 |  |  | 22,600,000 |  |  |  | 1,472,000 |
Lake Raystown Plaza |  | Huntingdon, PA |  | 6/25/2014 |  |  | 19,500,000 |  |  |  | 6,491,000 |
|  |  |  |  |  | $ | 74,761,000 |  |  | $ | 7,963,000 |
(a)Lender accepted a deed-in-lieu of foreclosure on the property. Sales price represents mortgage loan payable, accrued interest and other expenses forgiven upon title transfer. On May 6, 2014, the McCormick Place lender accepted and recorded the deed to the property, thus completing the deed-in-lieu of foreclosure process in full satisfaction of the mortgage loan payable and related accrued interest aggregating $2.7 million. Based on the $1.8 million carrying value of the property, the Company recorded a $0.8 million gain on the extinguishment of a debt obligation in the second quarter of 2014, which is included in discontinued operations in the accompanying consolidated statement of operations. On May 27, 2014, the Gahanna Discount Drug Mart Plaza lender accepted and recorded the deed to the property, thus completing the deed-in-lieu of foreclosure process in full satisfaction of the mortgage loan payable and related accrued interest aggregating $5.0 million. Based on the $4.3 million carrying value of the property, the Company recorded a $0.6 million gain on the extinguishment of a debt obligation in the second quarter of 2014, which is included in discontinued operations in the accompanying consolidated statement of operations.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 + Details
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