Retail Properties of America (RPAI) 10-K 15 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2016	Feb. 10, 2017	Jun. 30, 2016
Entity Information
Entity Registrant Name	RETAIL PROPERTIES OF AMERICA, INC.
Entity Central Index Key	1,222,840
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 4
Entity Common Stock, Shares Outstanding		236,847,007

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Investment properties:
Land	$ 1,191,403	$ 1,254,131
Building and other improvements	4,284,664	4,428,554
Developments in progress	23,439	5,157
Gross investment properties	5,499,506	5,687,842
Less accumulated depreciation	(1,443,333)	(1,433,195)
Net investment properties	4,056,173	4,254,647
Cash and cash equivalents	53,119	51,424
Accounts and notes receivable (net of allowances of $6,886 and $7,910, respectively)	78,941	82,804
Acquired lease intangible assets, net	142,015	138,766
Assets associated with investment properties held for sale	30,827	0
Other assets, net	91,898	93,610
Total assets	4,452,973	4,621,251
Liabilities:
Mortgages payable, net	769,184	1,123,136
Unsecured notes payable, net	695,143	495,576
Unsecured term loans, net	447,598	447,526
Unsecured revolving line of credit	86,000	100,000
Accounts payable and accrued expenses	83,085	69,800
Distributions payable	39,222	39,297
Acquired lease intangible liabilities, net	105,290	114,834
Liabilities associated with investment properties held for sale, net	864	0
Other liabilities	74,501	75,745
Total liabilities	2,300,887	2,465,914
Commitments and contingencies (Note 17)
Equity:
Additional paid-in capital	4,927,155	4,931,395
Accumulated distributions in excess of earnings	(2,776,033)	(2,776,215)
Accumulated other comprehensive income (loss)	722	(85)
Total equity	2,152,086	2,155,337
Total liabilities and equity	4,452,973	4,621,251
7.00% Series A cumulative redeemable preferred stock
Equity:
Preferred stock	5	5
Class A common stock
Equity:
Class A common stock	$ 237	$ 237

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accounts and notes receivable, allowances	$ 6,886	$ 7,910
7.00% Series A cumulative redeemable preferred stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000	10,000
Preferred stock, dividend rate	7.00%	7.00%
Preferred stock, shares issued	5,400	5,400
Preferred stock, shares outstanding	5,400	5,400
Preferred stock, liquidation preference	$ 135,000	$ 135,000
Class A common stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	475,000	475,000
Common stock, shares issued	236,770	237,267
Common stock, shares outstanding	236,770	237,267

Consolidated Statements of Oper

Consolidated Statements of Operations and Other Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Rental income	$ 455,658	$ 472,344	$ 474,684
Tenant recovery income	118,569	119,536	115,719
Other property income	8,916	12,080	10,211
Total revenues	583,143	603,960	600,614
Expenses
Operating expenses	85,895	94,780	96,798
Real estate taxes	81,774	82,810	78,773
Depreciation and amortization	224,430	214,706	215,966
Provision for impairment of investment properties	20,376	19,937	72,203
General and administrative expenses	44,522	50,657	34,229
Total expenses	456,997	462,890	497,969
Operating income	126,146	141,070	102,645
Gain on extinguishment of debt	13,653	0	0
Gain on extinguishment of other liabilities	6,978	0	4,258
Equity in loss of unconsolidated joint ventures, net	0	0	(2,088)
Gain on change in control of investment properties	0	0	24,158
Interest expense	(109,730)	(138,938)	(133,835)
Other income, net	63	1,700	5,459
Income from continuing operations	37,110	3,832	597
Discontinued operations:
Loss, net	0	0	(148)
Gain on sales of investment properties	0	0	655
Income from discontinued operations	0	0	507
Gain on sales of investment properties	129,707	121,792	42,196
Net income	166,817	125,624	43,300
Net income attributable to noncontrolling interest	0	(528)	0
Net income attributable to the Company	166,817	125,096	43,300
Preferred stock dividends	(9,450)	(9,450)	(9,450)
Net income attributable to common shareholders	$ 157,367	$ 115,646	$ 33,850
Earnings per common share – basic and diluted
Continuing operations	$ 0.66	$ 0.49	$ 0.14
Discontinued operations	0	0	0
Net income per common share attributable to common shareholders	$ 0.66	$ 0.49	$ 0.14
Net income	$ 166,817	$ 125,624	$ 43,300
Other comprehensive income:
Net unrealized gain on derivative instruments (Note 10)	807	452	201
Comprehensive income	167,624	126,076	43,501
Comprehensive income attributable to noncontrolling interest	0	(528)	0
Comprehensive income attributable to the Company	$ 167,624	$ 125,548	$ 43,501
Weighted average number of common shares outstanding – basic	236,651	236,380	236,184
Weighted average number of common shares outstanding – diluted	236,951	236,382	236,187

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Preferred stock7.00% Series A cumulative redeemable preferred stock	Common stockClass A common stock	Additional paid-in capital	Accumulated distributions in excess of earnings	Accumulated other comprehensive (loss) income	Total shareholders' equity	Noncontrolling interest
Balance at Dec. 31, 2013	$ 2,308,834	$ 5	$ 236	$ 4,919,633	$ (2,611,796)	$ (738)	$ 2,307,340	$ 1,494
Balance (in shares) at Dec. 31, 2013		5,400	236,302
Increase (Decrease) in Shareholders' Equity
Net income	43,300				43,300		43,300
Other comprehensive income	201					201	201
Distributions declared to preferred shareholders	(9,450)				(9,450)		(9,450)
Distributions declared to common shareholders	(156,742)				(156,742)		(156,742)
Issuance of common stock, net of offering costs	(145)			(145)			(145)
Issuance of restricted shares	1		$ 1				1
Issuance of restricted shares (in shares)			303
Exercise of stock options	23			23			23
Exercise of stock options (in shares)			2
Stock-based compensation expense, net of forfeitures	3,420			3,420			3,420
Shares withheld for employee taxes	(67)			(67)			(67)
Shares withheld for employee taxes (in shares)			(5)
Balance at Dec. 31, 2014	2,189,375	$ 5	$ 237	4,922,864	(2,734,688)	(537)	2,187,881	1,494
Balance (in shares) at Dec. 31, 2014		5,400	236,602
Increase (Decrease) in Shareholders' Equity
Net income	125,624				125,096		125,096	528
Other comprehensive income	452					452	452
Distribution upon dissolution of consolidated joint venture	(2,022)							(2,022)
Distributions declared to preferred shareholders	(9,450)				(9,450)		(9,450)
Distributions declared to common shareholders	(157,173)				(157,173)		(157,173)
Issuance of common stock, net of offering costs	(216)			(216)			(216)
Issuance of restricted shares (in shares)			801
Stock-based compensation expense, net of forfeitures	10,755			10,755			10,755
Stock-based compensation expense, net of forfeitures (in shares)			(4)
Shares withheld for employee taxes	(2,008)			(2,008)			(2,008)
Shares withheld for employee taxes (in shares)			(132)
Balance at Dec. 31, 2015	2,155,337	$ 5	$ 237	4,931,395	(2,776,215)	(85)	2,155,337	0
Balance (in shares) at Dec. 31, 2015		5,400	237,267
Increase (Decrease) in Shareholders' Equity
Cumulative effect of accounting change				17	(17)
Net income	166,817				166,817		166,817
Other comprehensive income	807					807	807
Distributions declared to preferred shareholders	(9,450)				(9,450)		(9,450)
Distributions declared to common shareholders	(157,168)				(157,168)		(157,168)
Issuance of common stock, net of offering costs	(100)			(100)			(100)
Shares repurchased through share repurchase program	(8,841)			(8,841)			(8,841)
Shares repurchased through share repurchase program (in shares)			(591)
Issuance of restricted shares (in shares)			274
Exercise of stock options	23			23			23
Exercise of stock options (in shares)			2
Stock-based compensation expense, net of forfeitures	7,209			7,209			7,209
Stock-based compensation expense, net of forfeitures (in shares)			(10)
Shares withheld for employee taxes	(2,548)			(2,548)			(2,548)
Shares withheld for employee taxes (in shares)			(172)
Balance at Dec. 31, 2016	$ 2,152,086	$ 5	$ 237	$ 4,927,155	$ (2,776,033)	$ 722	$ 2,152,086	$ 0
Balance (in shares) at Dec. 31, 2016		5,400	236,770

Consolidated Statements of Equ6

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Distributions declared to preferred shareholders (in dollars per share)	$ 1.75	$ 1.75	$ 1.75
Distributions declared to common shareholders (in dollars per share)	$ 0.6625	$ 0.6625	$ 0.6625

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 166,817	$ 125,624	$ 43,300
Adjustments to reconcile net income to net cash provided by operating activities (including discontinued operations):
Depreciation and amortization	224,430	214,706	215,966
Provision for impairment of investment properties	20,376	19,937	72,203
Gain on sales of investment properties	(129,707)	(121,792)	(42,851)
Gain on extinguishment of debt	(13,653)	0	0
Gain on extinguishment of other liabilities	(6,978)	0	(4,258)
Gain on change in control of investment properties	0	0	(24,158)
Amortization of loan fees and debt premium and discount, net	5,781	5,129	4,926
Amortization of stock-based compensation	7,209	10,755	3,420
Premium paid in connection with defeasance of mortgages payable	1,735	17,343	1,322
Equity in loss of unconsolidated joint ventures, net	0	0	2,088
Distributions on investments in unconsolidated joint ventures	0	0	1,360
Payment of leasing fees and inducements	(9,640)	(8,184)	(8,523)
Changes in accounts receivable, net	(1,918)	4,420	(5,762)
Changes in accounts payable and accrued expenses, net	2,007	1,976	3,220
Changes in other operating assets and liabilities, net	(1,776)	(469)	(7,499)
Other, net	(935)	(3,632)	(740)
Net cash provided by operating activities	263,748	265,813	254,014
Cash flows from investing activities:
Changes in restricted escrows, net	394	22,344	(16,757)
Purchase of investment properties	(381,436)	(454,085)	(172,989)
Capital expenditures and tenant improvements	(51,768)	(45,649)	(44,442)
Proceeds from sales of investment properties	450,765	505,824	315,400
Investment in developments in progress	(1,362)	(2,371)	(2,992)
Investment in unconsolidated joint ventures	0	0	(25)
Other, net	944	(775)	(295)
Net cash provided by investing activities	17,537	25,288	77,900
Cash flows from financing activities:
Proceeds from mortgages payable	0	1,049	3,541
Principal payments on mortgages payable	(266,033)	(441,490)	(192,244)
Proceeds from unsecured notes payable	200,000	248,815	250,000
Proceeds from unsecured credit facility	622,500	610,000	375,500
Repayments of unsecured credit facility	(636,500)	(510,000)	(540,500)
Payment of loan fees and deposits, net	(8,756)	(2,243)	(1,615)
Purchase of U.S. Treasury securities in connection with defeasance of mortgages payable	(12,430)	(87,435)	(6,152)
Distributions paid	(166,693)	(166,513)	(166,143)
Shares repurchased through share repurchase program	(8,841)	0	0
Other, net	(2,837)	(4,152)	(199)
Net cash used in financing activities	(279,590)	(351,969)	(277,812)
Net increase (decrease) in cash and cash equivalents	1,695	(60,868)	54,102
Cash and cash equivalents, at beginning of year	51,424	112,292	58,190
Cash and cash equivalents, at end of year	53,119	51,424	112,292
Supplemental cash flow disclosure, including non-cash activities:
Cash paid for interest, net of interest capitalized	101,789	115,249	127,645
Distributions payable	39,222	39,297	39,187
Accrued capital expenditures and tenant improvements	9,286	6,079	6,731
Accrued leasing fees and inducements	952	0	0
Accrued redevelopment costs	4,816	0	0
Amounts reclassified to developments in progress	17,261	0	0
Developments in progress placed in service	0	2,288	4,047
U.S. Treasury securities transferred in connection with defeasance of mortgages payable	12,430	87,435	6,152
Defeasance of mortgages payable	10,695	70,092	4,830
Purchase of investment properties (after credits at closing and including acquisition of our partners' joint venture interests):
Land, building and other improvements, net	(375,022)	(442,763)	(337,906)
Accounts receivable, acquired lease intangibles and other assets	(40,989)	(47,498)	(31,116)
Accounts payable, acquired lease intangibles and other liabilities	19,259	36,176	25,390
Mortgages payable assumed, net	15,316	0	146,485
Gain on change in control of investment properties	0	0	24,158
Purchase of investment properties (after credits at closing and including acquisition of our partners' joint venture interests)	(381,436)	(454,085)	(172,989)
Proceeds from sales of investment properties:
Net investment properties	393,680	379,419	265,127
Accounts receivable, acquired lease intangibles and other assets	18,183	8,959	12,053
Accounts payable, acquired lease intangibles and other liabilities	(11,605)	(4,378)	(4,631)
Deferred gains	1,500	32	0
Mortgage debt forgiven or assumed	(94,353)	0	0
Gain on extinguishment of debt	13,653	0	0
Gain on sales of investment properties	129,707	121,792	42,851
Proceeds from sales of investment properties	$ 450,765	$ 505,824	$ 315,400

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	ORGANIZATION AND BASIS OF PRESENTATION Retail Properties of America, Inc. (the Company) was formed on March 5, 2003 and its primary purpose is to own and operate high quality, strategically located shopping centers in the United States. The Company has elected to be taxed as a real estate investment trust (REIT) under the Internal Revenue Code of 1986, as amended (the Code). The Company believes it qualifies for taxation as a REIT and, as such, the Company generally will not be subject to U.S. federal income tax on taxable income that is distributed to its shareholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal income tax on its taxable income. Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income, property or net worth and U.S. federal income and excise taxes on its undistributed income. The Company has one wholly-owned subsidiary that has jointly elected to be treated as a taxable REIT subsidiary (TRS) and is subject to U.S. federal, state and local income taxes at regular corporate tax rates. The income tax expense incurred by the TRS did not have a material impact on the Company’s accompanying consolidated financial statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. For example, significant estimates and assumptions have been made with respect to useful lives of assets, capitalization of development costs, fair value measurements, provision for impairment, including estimates of holding periods, capitalization rates and discount rates (where applicable), provision for income taxes, recoverable amounts of receivables, deferred taxes and initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions. Actual results could differ from these estimates. All share amounts and dollar amounts in the consolidated financial statements and notes thereto are stated in thousands with the exception of per share amounts and per square foot amounts. Square foot and per square foot amounts are unaudited. The accompanying consolidated financial statements include the accounts of the Company, as well as all wholly-owned subsidiaries and any consolidated variable interest entities (VIEs). Wholly-owned subsidiaries generally consist of limited liability companies (LLCs), limited partnerships (LPs) and statutory trusts. The Company’s property ownership as of December 31, 2016 is summarized below: Wholly-owned Retail operating properties (a) 156 Office properties 1 Total operating properties 157 Redevelopment properties 2 (a) Excludes two wholly-owned operating properties classified as held for sale as of December 31, 2016 . Intercompany balances and transactions have been eliminated in consolidation. Investments in real estate joint ventures in which the Company has the ability to exercise significant influence, but does not have a controlling financial interest, are accounted for pursuant to the equity method of accounting. Accordingly, the Company’s share of the loss of these unconsolidated joint ventures is included in “Equity in loss of unconsolidated joint ventures, net” in the accompanying consolidated statements of operations and other comprehensive income. Refer to Note 11 to the consolidated financial statements for further discussion. Noncontrolling interest is the portion of equity in a consolidated subsidiary not attributable, directly or indirectly, to the Company. In the consolidated statements of operations and other comprehensive income, revenues, expenses and net income or loss from less-than-wholly-owned consolidated subsidiaries are reported at the consolidated amounts, including both the amounts attributable to common shareholders and noncontrolling interests. Consolidated statements of equity are included in the annual financial statements, including beginning balances, activity for the period and ending balances for total shareholders’ equity, noncontrolling interests and total equity. Noncontrolling interests are adjusted for additional contributions from and distributions to noncontrolling interest holders, as well as the noncontrolling interest holders’ share of the net income or loss of each respective entity, as applicable. The Company evaluates the classification and presentation of noncontrolling interests associated with consolidated joint venture investments, if any, on an ongoing basis as facts and circumstances necessitate. On October 29, 2015, the Company dissolved its remaining less-than-wholly owned consolidated joint venture concurrent with the sale of Green Valley Crossing to an affiliate of the joint venture partner. The Company was entitled to a preferred return on its capital contributions to the entity. The noncontrolling interest holder was allocated $528 as its share of the gain on sale of the development property and received a distribution of $2,022 upon dissolution of the joint venture. No adjustments to the carrying value of the noncontrolling interest for contributions, distributions or allocation of net income or loss were made during the year ended December 31, 2014. As of December 31, 2016 , the Company did not have any less-than-wholly-owned consolidated entities.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Investment Properties: Investment properties are recorded at cost less accumulated depreciation. Ordinary repairs and maintenance are expensed as incurred. Expenditures for significant improvements, including internal salaries and related benefits of personnel directly involved in the improvements, are capitalized. The Company allocates the purchase price of each acquired investment property accounted for as a business combination based upon the estimated acquisition date fair value of the individual assets acquired and liabilities assumed, which generally include (i) land, (ii) building and other improvements, (iii) in-place lease value intangibles, (iv) acquired above and below market lease intangibles, (v) any assumed financing that is determined to be above or below market, (vi) the value of customer relationships and (vii) goodwill, if any. Transaction costs related to acquisitions accounted for as business combinations are expensed as incurred and included within “General and administrative expenses” in the accompanying consolidated statements of operations and other comprehensive income. The Company elected to early adopt ASU 2017-01, Business Combinations , on a prospective basis as of October 1, 2016. This new guidance clarifies the definition of a business and provides a screen to determine when an integrated set of assets and activities is not considered a business and, thus, accounted for as an asset acquisition as opposed to a business combination. Refer to the “Recently Adopted Accounting Pronouncements” section within Note 2 to the consolidated financial statements. Under this new guidance, the Company expects most acquisitions of investment property will meet this screen and, thus, be accounted for as asset acquisitions. The Company allocates the purchase price of each acquired investment property that is accounted for as an asset acquisition based upon the relative fair value of the individual assets acquired and liabilities assumed, which generally include (i) land, (ii) building and other improvements, (iii) in-place lease value intangibles, (iv) acquired above and below market lease intangibles, (v) any assumed financing that is determined to be above or below market and (vi) the value of customer relationships. Asset acquisitions do not give rise to goodwill and the related transaction costs are capitalized and included with the allocated purchase price. For tangible assets acquired, including land, building and other improvements, the Company considers available comparable market and industry information in estimating acquisition date fair value. The Company allocates a portion of the purchase price to the estimated acquired in-place lease value intangibles based on estimated lease execution costs for similar leases as well as lost rental payments during an assumed lease-up period. The Company also evaluates each acquired lease as compared to current market rates. If an acquired lease is determined to be above or below market, the Company allocates a portion of the purchase price to such above or below market leases based upon the present value of the difference between the contractual lease payments and estimated market rent payments over the remaining lease term. Renewal periods are included within the lease term in the calculation of above and below market lease values if, based upon factors known at the acquisition date, market participants would consider it reasonably assured that the lessee would exercise such options. Fair value estimates used in acquisition accounting, including the discount rate used, require the Company to consider various factors, including, but not limited to, market knowledge, demographics, age and physical condition of the property, geographic location, size and location of tenant spaces within the acquired investment property and tenant profile. For acquisitions accounted for as business combinations, if, up to one year from the acquisition date, information regarding fair value of the assets acquired and liabilities assumed is received and estimates are refined, appropriate adjustments are made to the purchase price allocation on a prospective basis. The portion of the purchase price allocated to acquired in-place lease value intangibles is amortized on a straight-line basis over the life of the related lease as a component of depreciation and amortization expense. The Company incurred amortization expense pertaining to acquired in-place lease value intangibles of $27,443 , $25,913 and $28,977 for the years ended December 31, 2016 , 2015 and 2014 , respectively. With respect to acquired leases in which the Company is the lessor, the portion of the purchase price allocated to acquired above and below market lease intangibles is amortized on a straight-line basis over the life of the related lease as an adjustment to rental income. Amortization pertaining to above market lease intangibles of $4,406 , $4,807 and $4,170 for the years ended December 31, 2016 , 2015 and 2014 , respectively, was recorded as a reduction to rental income. Amortization pertaining to below market lease intangibles of $7,396 , $8,428 and $6,246 for the years ended December 31, 2016 , 2015 and 2014 , respectively, was recorded as an increase to rental income. With respect to acquired leases in which the Company is the lessee, the portion of the purchase price allocated to acquired above and below market ground lease intangibles is amortized on a straight-line basis over the life of the related lease as an adjustment to property operating expenses. Amortization pertaining to above market ground lease intangibles of $560 , $560 and $560 for the years ended December 31, 2016 , 2015 and 2014 , respectively, was recorded as a reduction to property operating expenses. The following table presents the amortization during the next five years and thereafter related to the acquired lease intangible assets and liabilities for properties owned as of December 31, 2016 : 2017 2018 2019 2020 2021 Thereafter Total Amortization of: Acquired above market lease intangibles (a) $ 4,474 $ 3,850 $ 2,527 $ 1,890 $ 1,373 $ 5,368 $ 19,482 Acquired in-place lease value intangibles (a) 22,627 17,509 12,473 10,324 9,022 50,578 122,533 Acquired lease intangible assets, net (b) $ 27,101 $ 21,359 $ 15,000 $ 12,214 $ 10,395 $ 55,946 $ 142,015 Acquired below market lease intangibles (a) $ (6,124 ) $ (5,849 ) $ (5,545 ) $ (5,369 ) $ (5,177 ) $ (64,208 ) $ (92,272 ) Acquired ground lease intangibles (c) (560 ) (560 ) (560 ) (560 ) (560 ) (10,218 ) (13,018 ) Acquired lease intangible liabilities, net (b) $ (6,684 ) $ (6,409 ) $ (6,105 ) $ (5,929 ) $ (5,737 ) $ (74,426 ) $ (105,290 ) (a) Represents the portion of the purchase price with respect to acquired leases in which the Company is the lessor. The amortization of acquired above and below market lease intangibles is recorded as an adjustment to rental income and the amortization of acquired in-place lease value intangibles is recorded to depreciation and amortization expense. (b) Acquired lease intangible assets, net and acquired lease intangible liabilities, net are presented net of $296,309 and $50,672 of accumulated amortization, respectively, as of December 31, 2016 . (c) Represents the portion of the purchase price with respect to acquired leases in which the Company is the lessee. The amortization is recorded as an adjustment to property operating expenses. Depreciation expense is computed using the straight-line method. Building and other improvements are depreciated based upon estimated useful lives of 30 years for building and associated improvements and 15 years for site improvements and most other capital improvements. Tenant improvements and leasing fees, including capitalized internal leasing incentives, are amortized on a straight-line basis over the life of the related lease as a component of depreciation and amortization expense. The Company capitalized $423 , $474 and $0 of internal leasing incentives, all of which were incremental to signed leases, during the years ended December 31, 2016 , 2015 and 2014 , respectively. Impairment of Long-Lived Assets and Unconsolidated Joint Ventures: The Company’s investment properties, including developments in progress, are reviewed for potential impairment at the end of each reporting period or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. At the end of each reporting period, the Company separately determines whether impairment indicators exist for each property. Examples of situations considered to be impairment indicators for both operating properties and developments in progress include, but are not limited to: • a substantial decline in or continued low occupancy rate or cash flow; • expected significant declines in occupancy in the near future; • continued difficulty in leasing space; • a significant concentration of financially troubled tenants; • a change in anticipated holding period; • a cost accumulation or delay in project completion date significantly above and beyond the original development or redevelopment estimate; • a significant decrease in market price not in line with general market trends; and • any other quantitative or qualitative events or factors deemed significant by the Company’s management or board of directors. If the presence of one or more impairment indicators as described above is identified at the end of a reporting period or at any point throughout the year with respect to a property, the asset is tested for recoverability by comparing its carrying value to the estimated future undiscounted cash flows. An investment property is considered to be impaired when the estimated future undiscounted cash flows are less than its current carrying value. When performing a test for recoverability or estimating the fair value of an impaired investment property, the Company makes certain complex or subjective assumptions which include, but are not limited to: • projected operating cash flows considering factors such as vacancy rates, rental rates, lease terms, tenant financial strength, competitive positioning and property location; • estimated holding period or various potential holding periods when considering probability-weighted scenarios; • projected capital expenditures and lease origination costs; • estimated interest and internal costs expected to be capitalized, dates of construction completion and grand opening dates for developments in progress; • projected cash flows from the eventual disposition of an operating property or development in progress using a property-specific capitalization rate; • comparable selling prices; and • a property-specific discount rate. The Company did not have any unconsolidated joint ventures as of December 31, 2016 and 2015 . When the Company does hold investments in unconsolidated joint ventures, they are reviewed for potential impairment, in addition to impairment evaluations of the individual assets underlying these investments, each reporting period or whenever events or changes in circumstances warrant such an evaluation. To determine whether any identified impairment is other-than-temporary, the Company considers whether it has the ability and intent to hold the investment until the carrying value is fully recovered. To the extent impairment has occurred, the Company will record an impairment charge calculated as the excess of the carrying value of the asset over its estimated fair value. Below is a summary of impairment charges recorded during the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 2015 2014 Impairment of consolidated properties (a) $ 20,376 $ 19,937 $ 72,203 (a) Included in “Provision for impairment of investment properties” in the accompanying consolidated statements of operations and other comprehensive income. The Company’s assessment of impairment as of December 31, 2016 was based on the most current information available to the Company. If the operating conditions mentioned above deteriorate or if the Company’s expected holding period for assets change, subsequent tests for impairment could result in additional impairment charges in the future. The Company can provide no assurance that material impairment charges with respect to the Company’s investment properties will not occur in 2017 or future periods. Based upon current market conditions, certain of the Company’s properties may have fair values less than their carrying amounts. However, based on the Company’s plans with respect to those properties, the Company believes that their carrying amounts are recoverable and therefore, under applicable GAAP guidance, no additional impairment charges were recorded. Accordingly, the Company will continue to monitor circumstances and events in future periods to determine whether additional impairment charges are warranted. Refer to Note 15 to the consolidated financial statements for further discussion. Development and Redevelopment Projects : Development and redevelopment projects are classified as developments in progress on the accompanying consolidated balance sheets and include (i) land held for future development, (ii) ground-up developments and (iii) redevelopment properties undergoing significant renovations and improvements. During the development or redevelopment period, the Company capitalizes direct project costs such as construction, insurance, architectural and legal, as well as certain indirect project costs such as interest, other financing costs, real estate taxes and internal salaries and related benefits of personnel directly involved in the project. Capitalization of the indirect project costs ceases and all project-related costs included in developments in progress are reclassified to land and building and other improvements at the time when development or redevelopment is considered substantially complete. Additionally, the Company makes estimates as to the probability of completion of development and redevelopment projects. If the Company determines that completion of the development or redevelopment project is no longer probable, the Company expenses any capitalized costs that are not recoverable. The Company capitalized $302 of indirect project costs related to development and redevelopment projects and $1,152 related to expansions, pad developments and other significant improvements during the year ended December 31, 2016 . The Company did not capitalize any indirect project costs during the years ended December 31, 2015 and 2014. Investment Properties Held for Sale : In determining whether to classify an investment property as held for sale, the Company considers whether: (i) management has committed to a plan to sell the investment property; (ii) the investment property is available for immediate sale in its present condition, subject only to terms that are usual and customary; (iii) the Company has initiated a program to locate a buyer; (iv) the Company believes that the sale of the investment property is probable; (v) the Company is actively marketing the investment property for sale at a price that is reasonable in relation to its current value, and (vi) actions required for the Company to complete the plan indicate that it is unlikely that any significant changes will be made. If all of the above criteria are met, the Company classifies the investment property as held for sale. When these criteria are met, the Company suspends depreciation (including depreciation for tenant improvements and building improvements) and amortization of acquired in-place lease value intangibles and any above or below market lease intangibles and the Company records the investment property held for sale at the lower of cost or net realizable value. The assets and liabilities associated with those investment properties that are classified as held for sale are presented separately on the consolidated balance sheets for the most recent reporting period. Two properties were classified as held for sale as of December 31, 2016 and no properties qualified for held for sale accounting treatment as of December 31, 2015 . Prior to the Company’s early adoption of the revised discontinued operations pronouncement in 2014, if the operations and cash flow of the property had been, or were upon consummation of such sale, eliminated from ongoing operations and the Company did not have significant continuing involvement in the operations of the property, then the operations for the periods presented were classified in the consolidated statements of operations and other comprehensive income as discontinued operations for all periods presented. However, the Company elected to early adopt the revised discontinued operations pronouncement effective January 1, 2014, which limits what qualifies for discontinued operations presentation. As a result, the investment properties that were sold or classified as held for sale during 2016, 2015 and 2014, except for Riverpark Phase IIA, which was classified as held for sale as of December 31, 2013 and, therefore, qualified for discontinued operations treatment under the previous standard, did not qualify for discontinued operations presentation and, as such, are reflected in continuing operations on the consolidated statements of operations and other comprehensive income. Partially-Owned Entities : The Company consolidates partially-owned entities if they are VIEs in accordance with the Consolidation Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) and the Company is considered the primary beneficiary, the Company has voting control, the limited partners (or non-managing members) do not have substantive participatory rights, or other conditions exist that indicate that the Company has control. Management uses its judgment when determining if the Company is the primary beneficiary of, or has a controlling financial interest in, an entity in which it has a variable interest, to determine whether the Company has the power to direct the activities that most significantly impact the entity’s economic performance and if it has significant economic exposure to the risk and rewards of ownership. The Company assesses its interests in VIEs on an ongoing basis to determine if the entity should be consolidated. Cash and Cash Equivalents : The Company considers all demand deposits, money market accounts and investments in certificates of deposit and repurchase agreements purchased with a maturity of three months or less at the date of purchase to be cash equivalents. The Company maintains its cash and cash equivalents at major financial institutions. The cash and cash equivalents balance at one or more of these financial institutions exceeds the Federal Depository Insurance Corporation (FDIC) insurance coverage. The Company periodically assesses the credit risk associated with these financial institutions and believes that the risk of loss is minimal. Restricted Cash and Escrows : Restricted cash and escrows consist of lenders’ escrows and funds restricted through lender or other agreements, including funds held in escrow for future acquisitions, and are included as a component of “Other assets, net” in the accompanying consolidated balance sheets. As of December 31, 2016 and 2015 , the Company had $29,230 and $35,804 , respectively, in restricted cash and escrows. Derivative and Hedging Activities: Derivatives are recorded in the accompanying consolidated balance sheets at fair value within “Other assets, net” and “Other liabilities”. The Company uses interest rate derivatives to manage differences in the amount, timing and duration of the Company’s known or expected cash payments principally related to certain of its borrowings. The Company does not use derivatives for trading or speculative purposes. On the date the Company enters into a derivative, it may designate the derivative as a hedge against the variability of cash flows that are to be paid in connection with a recognized liability. Subsequent changes in the fair value of a derivative that is designated and qualifies as a cash flow hedge that is determined to be highly effective are recorded in “Accumulated other comprehensive income (loss)” and are reclassified to interest expense as interest payments are made on the Company’s variable rate debt. As of December 31, 2016 , the balance in accumulated other comprehensive income (loss) relating to derivatives was $722 . Any hedge ineffectiveness or changes in the fair value for any derivative not designated as a hedge is reported in “Other income, net” in the accompanying consolidated statements of operations and other comprehensive income. Conditional Asset Retirement Obligations: The Company evaluates the potential impact of conditional asset retirement obligations on its consolidated financial statements. The term conditional asset retirement obligation refers to a legal obligation to perform an asset retirement activity in which the timing and/or method of settlement are conditional on a future event that may or may not be within the control of the entity. Thus, the timing and/or method of settlement may be conditional on a future event. Based upon the Company’s evaluation, no accrual of a liability for asset retirement obligations was warranted as of December 31, 2016 and 2015 . Revenue Recognition: The Company commences revenue recognition on its leases based on a number of factors. In most cases, revenue recognition under a lease begins when the lessee takes possession of or controls the physical use of the leased asset. Generally, this occurs on the lease commencement date. The determination of who is the owner, for accounting purposes, of the tenant improvements determines the nature of the leased asset and when revenue recognition under a lease begins. If the Company is the owner, for accounting purposes, of the tenant improvements, then the leased asset is the finished space and revenue recognition begins when the lessee takes possession of the finished space, typically when the improvements are substantially complete. If the Company concludes that the lessee is the owner, for accounting purposes, of the tenant improvements, then the leased asset is the unimproved space and any tenant improvement allowances funded under the lease are accounted for as lease inducements which are amortized as a reduction to the revenue recognized over the term of the lease. In these circumstances, the Company commences revenue recognition when the lessee takes possession of the unimproved space for the lessee to construct their own improvements. The Company considers a number of factors to evaluate whether it or the lessee is the owner of the tenant improvements for accounting purposes. These factors include: • whether the lease stipulates how and on what a tenant improvement allowance may be spent; • whether the tenant or the Company retains legal title to the improvements; • the uniqueness of the improvements; • the expected economic life of the tenant improvements relative to the length of the lease; • who constructs or directs the construction of the improvements, and • whether the tenant or the Company is obligated to fund cost overruns. The determination of who owns the tenant improvements, for accounting purposes, is subject to significant judgment. In making that determination, the Company considers all of the above factors. No one factor, however, necessarily establishes its determination. Rental income, for only those leases that have fixed and measurable rent escalations, is recognized on a straight-line basis over the term of each lease. The difference between such rental income earned and the cash rent due under the provisions of a lease is recorded as deferred rent receivable and is included as a component of “Accounts and notes receivable” in the accompanying consolidated balance sheets. Reimbursements from tenants for recoverable real estate taxes and operating expenses are accrued as revenue in the period the applicable expenditures are incurred. The Company makes certain assumptions and judgments in estimating the reimbursements at the end of each reporting period. The Company records lease termination income as “Other property income” when (i) a termination letter agreement is signed, (ii) all of the conditions of such agreement have been fulfilled, (iii) the tenant is no longer occupying the property and (iv) collectibility is reasonably assured. Upon early lease termination, the Company provides for losses related to recognized tenant specific intangibles and other assets or adjusts the remaining useful life of the assets if determined to be appropriate. The Company recorded lease termination income of $3,339 , $3,757 and $2,667 for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company recorded contingent percentage rental income and percentage rental income in lieu of base rent of $4,082 , $4,693 and $5,229 for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company’s policy is to defer recognition of contingent rental income until the specified target (i.e. breakpoint) that triggers the contingent rental income is achieved. Profits from sales of real estate are not recognized under the full accrual method until the following criteria are met: a sale is consummated; the buyer’s initial and continuing investments are adequate to demonstrate a commitment to pay for the property; the Company’s receivable, if applicable, is not subject to future subordination; the Company has transferred to the buyer the usual risks and rewards of ownership; and the Company does not have substantial continuing involvement with the property. The Company sold 46 , 26 and 24 consolidated investment properties during the years ended December 31, 2016 , 2015 and 2014 , respectively. Refer to Note 4 to the consolidated financial statements for further discussion. Accounts and Notes Receivable and Allowance for Doubtful Accounts : Accounts and notes receivable balances outstanding include base rents, tenant reimbursements and deferred rent receivables. An allowance for the uncollectible portion of accounts and notes receivable is determined on a tenant-specific basis through an analysis of balances outstanding, historical bad debt levels, tenant creditworthiness and current economic trends. Additionally, estimates of the expected recovery of pre-petition and post-petition claims with respect to tenants in bankruptcy are considered in assessing the collectibility of the related receivables. Management’s estimate of the collectibility of accounts and notes receivable is based on the best information available to management at the time of evaluation. Rental Expense : Rental expense associated with land and office space that the Company leases under non-cancellable operating leases, for only those leases that have fixed and measurable rent escalations, is recorded on a straight-line basis over the term of each lease. The difference between rental expense incurred on a straight-line basis and rental payments due under the provisions of a lease agreement is recorded as a deferred liability and is included as a component of “Other liabilities” in the accompanying consolidated balance sheets. See Note 6 to the consolidated financial statements for additional information pertaining to these leases. Loan Fees: Loan fees are generally amortized using the effective interest method (or other methods which approximate the effective interest method) over the life of the related loan as a component of interest expense. Debt prepayment penalties and certain fees associated with exchanges or modifications of debt are expensed as incurred as a component of interest expense. The Company presents unamortized capitalized loan fees, excluding those related to its unsecured revolving line of credit, as direct reductions of the carrying amounts of the related debt liabilities in the accompanying consolidated balance sheets. Unamortized capitalized loan fees attributable to the Company’s unsecured revolving line of credit are recorded in “Other assets, net” in the accompanying consolidated balance sheets. Income Taxes: The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Code. As a REIT, the Company generally will not be subject to U.S. federal income tax on the taxable income the Company currently distributes to its shareholders. The Company records a benefit, based on the GAAP measurement criteria, for uncertain income tax positions if the result of a tax position meets a “more likely than not” recognition threshold. Tax returns for the calendar years 2013 through 2016 remain subject to examination by federal and various state tax jurisdictions. Segment Reporting: The Company’s chief operating decision maker, which is comprised of its Chief Executive Officer, Chief Operating Officer and Chief Financial Officer, assesses and measures the operating results of the Company’s portfolio of properties based on net operating income and does not differentiate properties by geography, market, size or type. Each of the Company’s investment properties is considered a separate operating segment, as each property earns revenue and incurs expenses, individual operating results are reviewed and discrete financial information is available. However, the Company’s properties are aggregated into one reportable segment as they have similar economic characteristics, the Company provides similar services to its tenants and the Company’s chief operating decision maker evaluates the collective performance of its properties. Recently Adopted Accounting Pronouncements Effective January 1, 2016, the Company adopted Accounting Standards Update (ASU) 2015-02, Consolidation , which revised the consolidation guidance for all entities. This new guidance modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs. The adoption of this pronouncement under the modified retrospective method did not have any effect on the Company’s consolidated financial statements as the Company did not have any VIEs at adoption on January 1, 2016; however, during the year ended December 31, 2016, the Company acquired three properties through consolidated VIEs in connection with Internal Revenue Code Section 1031 tax-deferred exchanges (1031 Exchanges) and, accordingly, applied the revised consolidation guidance. See Note 3 to the consolidated financial statements for further details. Effective January 1, 2016, the Company adopted ASU 2015-16, Business Combinations , which requires the acquirer in a business combination to recognize in the period any adjustments to provisional amounts that are identified during the measurement period rather than retrospectively accounting for those adjustments. The adoption of this pronouncement did not have any effect on the Company’s consolidated financial statements. The Company elected to early adopt ASU 2014-15, Presentation of Financial Statements – Going Concern , on January 1, 2016. This new guidance requires a company’s management to assess the entity’s ability to continue as a going concern for a period of one year after the date the financial statements are issued (or available to be issued) and provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. The adoption of this pronouncement did not have any effect on the Company’s consolidated financial statements. The Company elected to early adopt ASU 2016-09, Compensation – Stock Compensation , on January 1, 2016. This new guidance allowed the Company to make an accounting policy election to account for share-based payment award forfeitures when they occur, which required a modified retrospective transition by means of a cumulative-effect adjustment to equity as of the beginning of the period of adoption and resulted in an adjustment of $17 to additional paid-in capital and accumulated distributions in excess of earnings as of January 1, 2016. The Company elected to early adopt ASU 2017-01, Business Combinations , on a prospective basis as of October 1, 2016. This new guidance clarifies the definition of a business and provides a screen to determine when an integrated set of assets and activities is not considered a business and, thus, accounted for as an asset acquis

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS The Company closed on the following acquisitions during the year ended December 31, 2016: Date Property Name Metropolitan Property Type Square Footage Acquisition Price January 15, 2016 Shoppes at Hagerstown (a) Hagerstown Multi-tenant retail 113,000 $ 27,055 January 15, 2016 Merrifield Town Center II (a) Washington, D.C. Multi-tenant retail 76,000 45,676 March 29, 2016 Oak Brook Promenade Chicago Multi-tenant retail 183,200 65,954 April 1, 2016 The Shoppes at Union Hill (b) New York Multi-tenant retail 91,700 63,060 April 29, 2016 Ashland & Roosevelt – Fee Interest (c) Chicago Ground lease interest (c) — 13,850 May 5, 2016 Tacoma South Seattle Multi-tenant retail 230,700 39,400 June 15, 2016 Eastside Dallas Multi-tenant retail 67,100 23,842 August 30, 2016 Woodinville Plaza – Anchor Space Improvements (d) Seattle Anchor space improvements (d) — 4,500 November 22, 2016 One Loudoun Downtown – Phase I (e) Washington, D.C. Multi-tenant retail 340,600 124,971 1,102,300 $ 408,308 (a) These properties were acquired as a two -property portfolio. Merrifield Town Center II also contains 62,000 square feet of storage space for a total of 138,000 square feet. (b) In conjunction with this acquisition, the Company assumed mortgage debt with a principal balance of $15,971 and an interest rate of 3.75% that matures in 2031. (c) The Company acquired the fee interest in an existing wholly-owned multi-tenant retail operating property located in Chicago, Illinois, which was previously subject to a ground lease with a third party. In conjunction with this transaction, the Company reversed the straight-line ground rent liability of $6,978 , which is reflected as “Gain on extinguishment of other liabilities” in the accompanying condensed consolidated statements of operations and other comprehensive income. (d) The Company acquired the anchor space improvements, which were previously subject to a ground lease with the Company, at an existing wholly-owned multi-tenant retail operating property located in Woodinville, Washington. (e) The remaining phases at One Loudoun Downtown, representing an aggregate gross purchase price of up to $35,500 , are expected to close throughout the first three quarters of 2017 as the seller completes construction on stand-alone buildings at the property. During the year ended December 31, 2016, the Company also completed a non-monetary transaction in which it received the fee interest in less than an acre of adjacent land and terminated the ground lease on certain undeveloped parcels at an existing wholly-owned multi-tenant retail operating property located in Southlake, Texas in exchange for the fee interest in approximately 2.5 acres of undeveloped parcels. As a result of this transaction, the Company’s fee interest in certain undeveloped parcels at the property are no longer encumbered by the ground lease. The Company capitalized $113 of costs related to this transaction. The Company closed on the following acquisitions during the year ended December 31, 2015: Date Property Name Metropolitan Statistical Area (MSA) Property Type Square Footage Acquisition Price January 8, 2015 Downtown Crown Washington, D.C. Multi-tenant retail 258,000 $ 162,785 January 23, 2015 Merrifield Town Center Washington, D.C. Multi-tenant retail 84,900 56,500 January 23, 2015 Fort Evans Plaza II Washington, D.C. Multi-tenant retail 228,900 65,000 February 19, 2015 Cedar Park Town Center Austin Multi-tenant retail 179,300 39,057 March 24, 2015 Lake Worth Towne Crossing – Parcel (a) Dallas Land (a) — 400 May 4, 2015 Tysons Corner Washington, D.C. Multi-tenant retail 37,700 31,556 June 10, 2015 Woodinville Plaza Seattle Multi-tenant retail 170,800 35,250 July 31, 2015 Southlake Town Square – Outparcel (b) Dallas Single-user outparcel 13,800 8,440 August 27, 2015 Coal Creek Marketplace Seattle Multi-tenant retail 55,900 17,600 October 27, 2015 Royal Oaks Village II – Outparcel (a) Houston Single-user outparcel 12,300 6,841 November 13, 2015 Towson Square Baltimore Multi-tenant retail 138,200 39,707 1,179,800 $ 463,136 (a) The Company acquired a parcel located at its Lake Worth Towne Crossing multi-tenant retail operating property and a single-user outparcel located at its Royal Oaks Village II multi-tenant retail operating property. (b) The Company acquired a single-user outparcel located at its Southlake Town Square multi-tenant retail operating property that was subject to a ground lease with the Company (as lessor) prior to the transaction. The Company closed on the following acquisitions during the year ended December 31, 2014: Date Property Name MSA Property Type Square Footage Acquisition Price Pro Rata Acquisition Price February 27, 2014 Heritage Square Seattle Multi-tenant retail 53,100 $ 18,022 $ 18,022 February 27, 2014 Bed Bath & Beyond Plaza – Fee Interest (a) Miami Ground lease interest (a) — 10,350 10,350 June 5, 2014 MS Inland Portfolio (b) Various Multi-tenant retail 1,194,800 292,500 234,000 June 23, 2014 Southlake Town Square – Outparcel (c) Dallas Single-user outparcel 8,500 6,369 6,369 November 20, 2014 Avondale Plaza Seattle Multi-tenant retail 39,000 15,070 15,070 December 30, 2014 Lakewood Towne Center – Parcel Seattle Multi-tenant parcel 44,000 5,750 5,750 1,339,400 $ 348,061 $ 289,561 (a) The Company acquired the fee interest in an existing wholly-owned multi-tenant retail operating property located in Miami, Florida, which was previously subject to a ground lease with a third party. In conjunction with this transaction, the Company reversed a straight-line ground rent liability of $4,258 , which is presented in “Gain on extinguishment of other liabilities” in the accompanying consolidated statements of operations and other comprehensive income. (b) As discussed in Note 11 to the consolidated financial statements, the Company dissolved its joint venture arrangement with its partner in MS Inland Fund, LLC (MS Inland) by acquiring its partner’s 80% ownership interest in the six multi-tenant retail properties owned by the joint venture (collectively, the MS Inland acquisitions). The Company paid total cash consideration of approximately $120,600 before transaction costs and prorations and after assumption of the joint venture’s in-place mortgage financing on those properties of $141,698 . The Company accounted for this transaction as a business combination achieved in stages and recognized a gain on change in control of investment properties of $24,158 as a result of remeasuring the carrying value of its 20% interest in the six acquired properties to fair value. Such gain is presented as “Gain on change in control of investment properties” in the accompanying consolidated statements of operations and other comprehensive income. (c) The Company acquired a single-user outparcel located at its Southlake Town Square multi-tenant retail operating property that was subject to a ground lease with the Company (as lessor) prior to the transaction. The following table summarizes the acquisition date fair values, before prorations, the Company recorded in conjunction with the acquisitions completed during the years ended December 31, 2016 , 2015 and 2014 discussed above: 2016 2015 2014 Land $ 106,947 $ 161,114 $ 118,732 Building and other improvements 268,075 281,649 219,174 Acquired lease intangible assets (a) 41,002 45,474 35,520 Acquired lease intangible liabilities (b) (8,258 ) (25,101 ) (20,578 ) Mortgages payable, net (c) (15,316 ) — (146,485 ) Net assets acquired (d) $ 392,450 $ 463,136 $ 206,363 (a) The weighted average amortization period for acquired lease intangible assets is nine years , 15 years and eight years for acquisitions completed during the years ended December 31, 2016 , 2015 and 2014 , respectively. (b) The weighted average amortization period for acquired lease intangible liabilities is 18 years , 21 years and 16 years for acquisitions completed during the years ended December 31, 2016 , 2015 and 2014 , respectively. (c) Includes mortgage discount of $(655) for acquisitions completed during the year ended December 31, 2016 and mortgage premium of $4,787 for acquisitions completed during the year ended December 31, 2014. (d) Net assets attributable to the MS Inland acquisition are presented at 100% . The above acquisitions were funded using a combination of available cash on hand, proceeds from dispositions and proceeds from the Company’s unsecured revolving line of credit. Transaction costs related to acquisitions accounted for as business combinations totaling $913 , $1,591 and $2,271 for the years ended December 31, 2016 , 2015 and 2014 , respectively, were expensed as incurred and included within “General and administrative expenses” in the accompanying consolidated statements of operations and other comprehensive income. Included in the Company’s consolidated statements of operations and other comprehensive income from the properties acquired that were accounted for as business combinations are $87,161 , $97,893 and $55,303 in total revenues and $22,283 , $18,334 and $6,733 in net income attributable to common shareholders from the date of acquisition through December 31, 2016 , 2015 , and 2014 , respectively. These amounts do not include the total revenue and net income attributable to common shareholders from the 2016 acquisitions of One Loudoun Downtown – Phase I, the anchor space improvements at Woodinville Plaza and the fee interest in Ashland & Roosevelt, the 2015 acquisition of a parcel at Lake Worth Towne Crossing and the 2014 acquisition of the fee interest in Bed Bath & Beyond Plaza as they have been accounted for as asset acquisitions. Subsequent to December 31, 2016 , the Company acquired Main Street Promenade, a 181,600 square foot multi-tenant retail property located in the Chicago MSA, for a gross purchase price of $88,000 . The property was acquired on January 13, 2017 through a consolidated VIE to facilitate a potential 1031 Exchange. The Company has not completed the allocation of the acquisition date fair value for Main Street Promenade; however, it expects that this acquisition will be accounted for as an asset acquisition and that the purchase price of this property will primarily be allocated to land, building and acquired lease intangibles. Condensed Pro Forma Financial Information The results of operations of the acquisitions accounted for as business combinations that were completed during the period, or after such period through the financial statement issuance date, for which financial information was available, are included in the following unaudited condensed pro forma financial information as if these acquisitions had been completed as of the beginning of the year prior to the acquisition date. The following unaudited condensed pro forma financial information is presented as if the 2016 acquisitions were completed as of January 1, 2015, the 2015 acquisitions were completed as of January 1, 2014, and the 2014 acquisitions were completed as of January 1, 2013. The results of operations associated with the 2017 acquisition of Main Street Promenade, the 2016 acquisitions of One Loudoun Downtown – Phase I, the anchor space improvements at Woodinville Plaza and the fee interest in Ashland & Roosevelt, the 2015 acquisition of a parcel at Lake Worth Towne Crossing and the 2014 acquisition of the fee interest in Bed Bath & Beyond Plaza have not been adjusted in the pro forma presentation as they have been accounted for as asset acquisitions. The results of operations associated with the 2015 acquisitions of Towson Square on November 13, 2015, single-user outparcels at Southlake Town Square on July 31, 2015 and Royal Oaks Village II on October 27, 2015 and the 2014 acquisition of a single-user outparcel at Southlake Town Square on June 23, 2014 have not been adjusted in the pro forma presentation due to a lack of historical financial information. These pro forma results are for comparative purposes only and are not necessarily indicative of what the Company’s actual results of operations would have been had the acquisitions occurred at the beginning of the periods presented, nor are they necessarily indicative of future operating results. The unaudited condensed pro forma financial information is as follows: Year Ended December 31, 2016 2015 2014 Total revenues $ 587,374 $ 627,300 $ 635,240 Net income $ 165,696 $ 121,406 $ 18,313 Net income attributable to common shareholders $ 156,246 $ 111,428 $ 8,863 Earnings per common share – basic and diluted: Net income per common share attributable to common shareholders $ 0.66 $ 0.47 $ 0.04 Weighted average number of common shares outstanding – basic 236,651 236,380 236,184 Variable Interest Entities During the year ended December 31, 2016 , the Company entered into agreements with a qualified intermediary related to three 1031 Exchanges. The Company loaned $65,419 , $39,215 and $23,522 to the VIEs to acquire Oak Brook Promenade, Tacoma South and Eastside, respectively. Each 1031 Exchange was completed during the year ended December 31, 2016 and, accordingly, no agreements remained outstanding related to 1031 Exchanges as of December 31, 2016. At the completion of the 1031 Exchanges, the sole membership interests of the VIEs were assigned to the Company and the respective outstanding loans were extinguished, resulting in the entities being wholly owned by the Company and no longer considered VIEs. Prior to the completion of the 1031 Exchanges, the Company was deemed to be the primary beneficiary of the VIEs as it had the ability to direct the activities of the VIEs that most significantly impacted their economic performance and had all of the risks and rewards of ownership. Accordingly, the Company consolidated the VIEs. No value or income was attributed to the noncontrolling interests. The assets of the VIEs consisted of the investment properties which were operated by the Company.

Dispositions

Dispositions	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	DISPOSITIONS The Company closed on the following dispositions during the year ended December 31, 2016: Date Property Name Property Type Square Footage Consideration Aggregate Proceeds, Net (a) Gain February 1, 2016 The Gateway (b) Multi-tenant retail 623,200 $ 75,000 $ (795 ) $ 3,868 February 10, 2016 Stateline Station Multi-tenant retail 142,600 17,500 17,210 4,253 March 30, 2016 Six Property Portfolio (c) Single-user retail 230,400 35,413 34,986 13,618 April 20, 2016 CVS Pharmacy – Oklahoma City Single-user retail 10,900 4,676 4,608 1,764 June 2, 2016 Rite Aid Store (Eckerd) – Canandaigua & Tim Horton Donut Shop (d) Single-user retail 16,600 5,400 5,333 1,444 June 15, 2016 Academy Sports – Midland Single-user retail 61,200 5,541 5,399 2,220 June 23, 2016 Four Rite Aid Portfolio (e) Single-user retail 45,400 15,934 14,646 2,287 July 8, 2016 Broadway Shopping Center Multi-tenant retail 190,300 20,500 20,103 7,958 July 21, 2016 Mid-Hudson Center Multi-tenant retail 235,600 27,500 25,615 — July 27, 2016 Rite Aid Store (Eckerd), Main St. – Buffalo Single-user retail 10,900 3,388 3,296 344 July 29, 2016 Rite Aid Store (Eckerd) – Lancaster Single-user retail 10,900 3,425 3,349 625 August 4, 2016 Alison’s Corner Multi-tenant retail 55,100 7,850 7,559 3,334 August 5, 2016 Rite Aid Store (Eckerd) – Lake Ave. Single-user retail 13,200 5,400 5,334 907 August 12, 2016 Maple Tree Place Multi-tenant retail 489,000 90,000 87,047 15,566 August 12, 2016 CVS Pharmacy – Burleson Single-user retail 10,900 4,190 4,102 1,425 August 18, 2016 Mitchell Ranch Plaza Multi-tenant retail 199,600 55,625 54,305 33,612 August 22, 2016 Rite Aid Store (Eckerd), E. Main St. – Batavia Single-user retail 13,800 5,050 4,924 1,249 September 9, 2016 Rite Aid Store (Eckerd) – Lockport Single-user retail 13,800 4,690 4,415 753 September 9, 2016 Rite Aid Store (Eckerd), Ferry St. – Buffalo Single-user retail 10,900 3,600 3,370 612 November 9, 2016 Walgreens – Northwoods Single-user retail 16,300 6,450 5,793 2,199 November 23, 2016 Ten Rite Aid Portfolio (f) Single-user retail 119,700 30,000 29,380 251 December 8, 2016 Vail Ranch Plaza Multi-tenant retail 101,800 27,450 27,160 11,247 December 15, 2016 Pacheco Pass Phase I & II Multi-tenant retail 194,300 41,500 39,549 4,758 December 16, 2016 South Billings Center (g) Development (g) — 2,250 2,157 — December 22, 2016 Rite Aid Store (Eckerd) – Colesville Single-user retail 13,400 7,700 7,444 1,893 December 29, 2016 Commons at Royal Palm Multi-tenant retail 156,500 23,700 21,460 6,553 December 30, 2016 CVS Pharmacy (Eckerd) – Edmond & CVS Pharmacy (Eckerd) – Norman (h) Single-user retail 27,600 10,630 10,467 5,069 3,013,900 $ 540,362 $ 448,216 $ 127,809 (a) Aggregate proceeds are net of transaction costs. (b) The property was disposed of through a lender-directed sale in full satisfaction of the Company’s $94,353 mortgage obligation. Immediately prior to the disposition, the lender reduced the Company’s loan obligation to $75,000 which was assumed by the buyer in connection with the disposition. Along with the loan reduction, the lender received the balance of the restricted escrows that they held and the rights to unpaid accounts receivable and forgave accrued interest, resulting in a net gain on extinguishment of debt of $13,653 . (c) Portfolio consists of the following properties: (i) Academy Sports – Houma, (ii) Academy Sports – Port Arthur, (iii) Academy Sports – San Antonio, (iv) CVS Pharmacy – Moore, (v) CVS Pharmacy – Saginaw and (vi) Rite Aid Store (Eckerd) – Olean. (d) The terms of the disposition of Rite Aid Store (Eckerd) – Canandaigua and Tim Horton Donut Shop were negotiated as a single transaction. (e) Portfolio consists of the following properties: (i) Rite Aid Store (Eckerd) – Cheektowaga, (ii) Rite Aid Store (Eckerd), W. Main St. – Batavia, (iii) Rite Aid Store (Eckerd), Union Rd. – West Seneca and (iv) Rite Aid Store (Eckerd) – Greece. (f) Portfolio consists of the following properties: (i) Rite Aid Store (Eckerd) – Chattanooga, (ii) Rite Aid Store (Eckerd) – Yorkshire, (iii) Rite Aid Store (Eckerd), Sheridan Dr. – Amherst, (iv) Rite Aid Store (Eckerd) – Grand Island, (v) Rite Aid Store (Eckerd) – North Chili, (vi) Rite Aid Store (Eckerd) – Tonawanda, (vii) Rite Aid Store (Eckerd) – Irondequoit, (viii) Rite Aid Store (Eckerd) – Hudson, (ix) Rite Aid Store (Eckerd), Transit Rd. – Amherst and (x) Rite Aid Store (Eckerd), Harlem Rd. – West Seneca. (g) South Billings Center was classified as a development property but was not under active development. (h) The terms of the disposition of CVS Pharmacy (Eckerd) – Edmond and CVS Pharmacy (Eckerd) – Norman were negotiated as a single transaction. During the year ended December 31, 2016, the Company also disposed of a single-user outparcel for consideration of $2,639 , received net proceeds of $2,549 and recorded a gain of $1,898 from the transaction. The aggregate proceeds, net of closing costs, from the property dispositions and this additional transaction totaled $450,765 with aggregate gains of $129,707 . During the year ended December 31, 2016, the Company defeased $10,695 in mortgages payable prior to the 2016 dispositions. As of December 31, 2016 , the Company had entered into contracts to sell Century III Plaza, a 284,100 square foot multi-tenant retail operating property located in West Mifflin, Pennsylvania, and CVS Pharmacy – Sylacauga, a 10,100 square foot single-user retail operating property located in Sylacauga, Alabama. These properties qualified for held for sale accounting treatment upon meeting all applicable GAAP criteria during the quarter ended December 31, 2016 , at which time depreciation and amortization were ceased. As such, the assets and liabilities associated with these properties are separately classified as held for sale in the accompanying consolidated balance sheet as of December 31, 2016 . No properties qualified for held for sale accounting treatment as of December 31, 2015 . The following table presents the assets and liabilities associated with the investment properties classified as held for sale: December 31, 2016 Assets Land, building and other improvements $ 45,395 Accumulated depreciation (15,769 ) Net investment properties 29,626 Other assets 1,201 Assets associated with investment properties held for sale $ 30,827 Liabilities Other liabilities $ 864 Liabilities associated with investment properties held for sale $ 864 There was no activity during the years ended December 31, 2016 and 2015 related to discontinued operations. The results of operations for the year ended December 31, 2014 for the investment property accounted for as discontinued operations, Riverpark Phase IIA which was sold on March 11, 2014 but was classified as held for sale as of December 31, 2013, were immaterial. Subsequent to December 31, 2016, the Company closed on the sale of Rite Aid Store (Eckerd), Culver Rd., a 10,900 square foot single-user retail operating property, for consideration of $500 . The Company closed on the following dispositions during the year ended December 31, 2015: Date Property Name Property Type Square Footage Consideration Aggregate Proceeds, Net (a) Gain January 20, 2015 Aon Hewitt East Campus Single-user office 343,000 $ 17,233 $ 16,495 $ — February 27, 2015 Promenade at Red Cliff Multi-tenant retail 94,500 19,050 18,848 4,572 April 7, 2015 Hartford Insurance Building Single-user office 97,400 6,015 5,663 860 April 30, 2015 Rasmussen College Single-user office 26,700 4,800 4,449 1,334 May 15, 2015 Mountain View Plaza Multi-tenant retail 162,000 28,500 27,949 10,184 June 4, 2015 Massillon Commons Multi-tenant retail 245,900 12,520 12,145 — June 5, 2015 Citizen's Property Insurance Building Single-user office 59,800 3,650 3,368 440 June 17, 2015 Pine Ridge Plaza Multi-tenant retail 236,500 33,200 31,858 12,938 June 17, 2015 Bison Hollow Multi-tenant retail 134,800 18,800 18,657 4,061 June 17, 2015 The Village at Quail Springs Multi-tenant retail 100,400 11,350 11,267 3,824 July 17, 2015 Greensburg Commons Multi-tenant retail 272,500 18,400 18,283 2,810 July 28, 2015 Arvada Connection and Arvada Marketplace Multi-tenant retail 367,500 54,900 53,159 20,208 July 30, 2015 Traveler's Office Building Single-user office 50,800 4,841 4,643 — August 6, 2015 Shaw's Supermarket Single-user retail 65,700 3,000 2,769 — August 24, 2015 Harvest Towne Center Multi-tenant retail 39,700 7,800 7,381 1,217 August 31, 2015 Trenton Crossing & McAllen Shopping Center (b) Multi-tenant retail 265,900 39,295 38,410 13,760 September 15, 2015 The Shops at Boardwalk Multi-tenant retail 122,400 27,400 26,634 3,146 September 29, 2015 Best on the Boulevard Multi-tenant retail 204,400 42,500 41,542 15,932 September 29, 2015 Montecito Crossing Multi-tenant retail 179,700 52,200 51,415 17,928 October 29, 2015 Green Valley Crossing (c) Development (c) 96,400 35,000 34,200 3,904 November 12, 2015 Lake Mead Crossing Multi-tenant retail 219,900 42,565 41,930 507 December 2, 2015 Golfsmith Single-user retail 14,900 4,475 4,298 1,010 December 9, 2015 Wal-Mart – Turlock Single-user retail 61,000 6,200 5,996 3,157 December 18, 2015 Southgate Plaza Multi-tenant retail 86,100 7,000 6,665 — December 31, 2015 Bellevue Mall Development 369,300 15,750 17,500 — 3,917,200 $ 516,444 $ 505,524 $ 121,792 (a) Aggregate proceeds are net of transaction costs and exclude $300 of condemnation proceeds, which did not result in any additional gain recognition. (b) The terms of the disposition of Trenton Crossing and McAllen Shopping Center were negotiated as a single transaction. (c) The development property had been held in a consolidated joint venture and was sold to an affiliate of the joint venture partner. Concurrent with the sale, the joint venture was dissolved. Approximately $528 of the gain on sale was allocated to the noncontrolling interest holder as its share of the gain. During the year ended December 31, 2015, the Company repaid or defeased $121,605 in mortgages payable prior to or in connection with the 2015 dispositions. During the year ended December 31, 2014, the Company sold 24 properties. The dispositions and certain additional transactions, including a pad sale and condemnations, resulted in aggregate proceeds, net of transaction costs, of $315,400 with aggregate gains of $42,851 . During the year ended December 31, 2014, the Company repaid or defeased $128,947 in mortgages payable prior to or in connection with the 2014 dispositions.

Equity Compensation Plans

Equity Compensation Plans	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Compensation Plans	EQUITY COMPENSATION PLANS The Company’s 2014 Long-Term Equity Compensation Plan, subject to certain conditions, authorizes the issuance of incentive and non-qualified stock options, restricted stock and restricted stock units, stock appreciation rights and other similar awards as well as cash-based awards to the Company’s employees, non-employee directors, consultants and advisors in connection with compensation and incentive arrangements that may be established by the Company’s board of directors or executive management. The following table summarizes the Company’s unvested restricted shares as of and for the years ended December 31, 2016 , 2015 and 2014 : Unvested Restricted Shares Weighted Average Grant Date Fair Value per Restricted Share Balance as of January 1, 2014 152 $ 15.11 Shares granted (a) 303 $ 13.89 Shares vested (58 ) $ 14.50 Shares forfeited (1 ) $ 15.61 Balance as of December 31, 2014 396 $ 14.26 Shares granted (a) 801 $ 15.82 Shares vested (405 ) $ 14.89 Shares forfeited (4 ) $ 16.01 Balance as of December 31, 2015 788 $ 15.52 Shares granted (a) 274 $ 14.76 Shares vested (510 ) $ 15.38 Shares forfeited (b) (10 ) $ 14.70 Balance as of December 31, 2016 (c) 542 $ 15.28 (a) Shares granted in 2014 , 2015 and 2016 vest over periods ranging from one year to three years , 0.4 years to 3.4 years and 0.4 years to 3.9 years , respectively, in accordance with the terms of applicable award agreements. (b) Effective January 1, 2016, the Company made an accounting policy election to account for forfeitures when they occur. (c) As of December 31, 2016 , total unrecognized compensation expense related to unvested restricted shares was $2,674 , which is expected to be amortized over a weighted average term of 1.3 years . In addition, during the years ended December 31, 2016 and 2015 , performance restricted stock units (RSUs) were granted to the Company’s executives. Following the three-year performance period, one-third of the RSUs will convert into shares of common stock and two-thirds will convert into restricted shares with a one year vesting term. As long as the minimum hurdle is achieved and the executive remains employed during the performance period, the RSUs will convert into shares of common stock and restricted shares at a conversion rate of between 50% and 200% based upon the Company’s Total Shareholder Return as compared to that of the peer companies within the National Association of Real Estate Investment Trusts (NAREIT) Shopping Center Index for the respective performance period. If an executive terminates employment during the performance period by reason of a qualified termination, as defined in the agreement, only a prorated portion of his or her outstanding RSUs will be eligible for conversion based upon the period in which the executive was employed during the performance period. If an executive terminates for any reason other than a qualified termination during the performance period, he or she would forfeit his or her outstanding RSUs. Following the performance period, additional shares of common stock will also be issued in an amount equal to the accumulated value of the dividends that would have been paid during the performance period on the shares of common stock and restricted shares issued at the end of the performance period divided by the then-current market price of the Company’s common stock. The Company calculated the grant date fair values per unit using Monte Carlo simulations based on the probabilities of satisfying the market performance hurdles over the remainder of the performance period. The following table summarizes the Company’s unvested RSUs as of and for the years ended December 31, 2016 and 2015: Unvested RSUs Weighted Average Grant Date Fair Value per RSU RSUs eligible for future conversion as of January 1, 2015 — $ — RSUs granted (a) 180 $ 14.19 RSUs ineligible for conversion (6 ) $ 14.10 RSUs eligible for future conversion as of December 31, 2015 174 $ 14.20 RSUs granted (b) 246 $ 13.85 RSUs ineligible for conversion (29 ) $ 13.56 RSUs eligible for future conversion as of December 31, 2016 (c) 391 $ 14.02 (a) Assumptions as of the grant dates included a weighted average risk-free interest rate of 0.80% , the Company’s historical common stock performance relative to the peer companies within the NAREIT Shopping Center Index and the Company’s weighted average common stock dividend yield of 4.26% . (b) Assumptions as of the grant dates included a weighted average risk-free interest rate of 0.89% , the Company’s historical common stock performance relative to the peer companies within the NAREIT Shopping Center Index and the Company’s weighted average common stock dividend yield of 4.59% . (c) As of December 31, 2016 , total unrecognized compensation expense related to unvested RSUs was $3,471 , which is expected to be amortized over a weighted average term of 2.4 years . During the years ended December 31, 2016 , 2015 and 2014 , the Company recorded compensation expense of $7,209 , $10,755 and $3,417 , respectively, related to unvested restricted shares and RSUs. Included within compensation expense recorded during the year ended December 31, 2015 is compensation expense of $2,159 related to the accelerated vesting of 194 restricted shares in conjunction with the departure of the Company’s former Chief Financial Officer and Treasurer and former Executive Vice President and President of Property Management. The total fair value of restricted shares vested during the years ended December 31, 2016 , 2015 and 2014 was $7,596 , $6,188 and $840 , respectively. Prior to 2013, non-employee directors had been granted options to acquire shares under the Company’s Third Amended and Restated Independent Director Stock Option and Incentive Plan. Options to purchase a total of 84 shares of common stock had been granted under the plan. During the year ended December 31, 2015 , options to purchase one share expired and options to purchase 10 shares were forfeited. During the year ended December 31, 2016 , options to purchase two shares were exercised, options to purchase one share expired and options to purchase 10 shares were forfeited. As of December 31, 2016 , options to purchase 41 shares of common stock remained outstanding and exercisable. The Company did not grant any options in 2014 , 2015 or 2016 . Compensation expense of $0 , $0 and $3 related to stock options was recorded during the years ended December 31, 2016 , 2015 and 2014 , respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Leases	LEASES The majority of revenues from the Company’s properties consist of rents received under long-term operating leases. In addition to base rent paid monthly in advance, some leases provide for the reimbursement of the tenant’s pro rata share of certain operating expenses incurred by the landlord including real estate taxes, special assessments, insurance, utilities, common area maintenance, management fees and certain capital repairs, subject to the terms of the respective lease. Certain other tenants are subject to net leases which provide that the tenant is responsible for fixed base rent, as well as all costs and expenses associated with occupancy. Under net leases, where all expenses are paid directly by the tenant rather than the landlord, such expenses are not included in the accompanying consolidated statements of operations and other comprehensive income. Under leases where all expenses are paid by the landlord, subject to reimbursement by the tenant, the expenses are included in “Operating expenses” or “Real estate taxes” and reimbursements are included in “Tenant recovery income” in the accompanying consolidated statements of operations and other comprehensive income. In certain municipalities, the Company is required to remit sales taxes to governmental authorities based upon the rental income received from properties in those regions. These taxes are reimbursed by the tenant to the Company depending upon the terms of the applicable tenant lease. The presentation of the remittance and reimbursement of these taxes is on a gross basis with sales tax expenses included in “Operating expenses” and sales tax reimbursements included in “Other property income” in the accompanying consolidated statements of operations and other comprehensive income. Such taxes remitted to governmental authorities, which are reimbursed by tenants, exclusive of amounts attributable to discontinued operations, were $1,986 , $2,071 and $1,985 for the years ended December 31, 2016 , 2015 and 2014 , respectively. Minimum lease payments to be received under operating leases, excluding payments under master lease agreements, additional percentage rent based on tenants’ sales volume and tenant reimbursements of certain operating expenses and assuming no exercise of renewal options or early termination rights, are as follows: Minimum Lease Payments 2017 $ 423,207 2018 382,938 2019 321,179 2020 262,571 2021 213,514 Thereafter 720,075 Total $ 2,323,484 The remaining lease terms range from less than one year to more than 66 years . Many of the leases at the Company’s retail properties contain provisions that condition a tenant’s obligation to remain open, the amount of rent payable by the tenant or potentially the tenant’s obligation to remain in the lease, upon certain factors, including: (i) the presence and continued operation of a certain anchor tenant or tenants, (ii) minimum occupancy levels at the applicable property or (iii) tenant sales amounts. If such a provision is triggered by a failure of any of these or other applicable conditions, a tenant could have the right to cease operations at the applicable property, have its rent reduced or terminate its lease early. The Company does not expect that such provisions will have a material impact on its future operating results. The Company leases land under non-cancellable operating leases at certain of its properties expiring in various years from 2028 to 2087 , exclusive of any available option periods. In addition, the Company leases office space for certain management offices and its corporate offices, which were expanded during the year ended December 31, 2016 to include a regional office in Tysons Corner, Virginia. The following table summarizes rent expense included in the accompanying consolidated statements of operations and other comprehensive income, including straight-line rent expense. Year Ended December 31, 2016 2015 2014 Ground lease rent expense (a) $ 10,464 $ 11,461 $ 11,676 Office rent expense (b) $ 1,317 $ 1,246 $ 1,210 (a) Included in “Operating expenses” in the accompanying consolidated statements of operations and other comprehensive income. Includes straight-line ground rent expense of $3,253 , $3,722 and $3,889 for the years ended December 31, 2016 , 2015 and 2014 , respectively. (b) Office rent expense related to property management operations is included in “Operating expenses” and office rent expense related to corporate office operations is included in “General and administrative expenses” in the accompanying consolidated statements of operations and other comprehensive income. Minimum future rental obligations to be paid under the ground and office leases, including fixed rental increases, are as follows: Minimum Lease Obligations 2017 $ 7,853 2018 7,842 2019 8,157 2020 8,318 2021 8,525 Thereafter 376,939 Total $ 417,634

Mortgages Payable

Mortgages Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Mortgages Payable	MORTGAGES PAYABLE The following table summarizes the Company’s mortgages payable: December 31, 2016 December 31, 2015 Aggregate Principal Balance Weighted Average Interest Rate Weighted Average Years to Maturity Aggregate Principal Balance Weighted Average Interest Rate Weighted Average Years to Maturity Fixed rate mortgages payable (a) $ 773,395 6.31 % 4.2 $ 1,128,505 (b) 6.08 % 3.9 Premium, net of accumulated amortization 1,437 1,865 Discount, net of accumulated amortization (622 ) (1 ) Capitalized loan fees, net of accumulated amortization (5,026 ) (7,233 ) Mortgages payable, net $ 769,184 $ 1,123,136 (a) The fixed rate mortgages had interest rates ranging from 3.75% to 8.00% and 3.35% to 8.00% as of December 31, 2016 and 2015 , respectively. (b) Includes $7,910 of variable rate mortgage debt that was swapped to a fixed rate as of December 31, 2015. During the year ended December 31, 2016 , the Company repaid or defeased mortgages payable in the total amount of $263,548 which had a weighted average fixed interest rate of 5.09% and made scheduled principal payments of $13,180 related to amortizing loans. One of the mortgages repaid, with a principal balance of $7,750 at maturity, had been swapped to a fixed rate and the Company had guaranteed a portion of the outstanding balance. Upon repayment of the mortgage on its scheduled maturity date, the interest rate swap expired and the Company’s guarantee was extinguished. In addition, during the year ended December 31, 2016 , the Company disposed of The Gateway through a lender-directed sale in full satisfaction of its $94,353 mortgage obligation, which had a fixed interest rate of 6.57% . Immediately prior to the disposition, the lender reduced the Company’s loan obligation to $75,000 which was assumed by the buyer in connection with the disposition. Along with the loan reduction, the lender received the balance of the restricted escrows that they held and the rights to unpaid accounts receivable and forgave accrued interest, resulting in a net gain on extinguishment of debt of $13,653 . The Company also assumed a mortgage payable with a principal balance of $15,971 and an interest rate of 3.75% that matures in 2031 in conjunction with the acquisition of The Shoppes at Union Hill. The majority of the Company’s mortgages payable require monthly payments of principal and interest, and some of the mortgages require reserves for real estate taxes and certain other costs. The Company’s properties and the related tenant leases are pledged as collateral for its mortgages payable. At times, the Company has borrowed funds financed as part of a cross-collateralized package, with cross-default provisions. In those circumstances, one or more of the Company’s properties may secure the debt of another of the Company’s properties. As of December 31, 2016 , the Company had a portfolio of mortgages payable with a principal balance of $379,435 that was cross-collateralized by 45 properties and scheduled to mature in 2019 (known as the IW JV portfolio of mortgages payable). Subsequent to December 31, 2016, the Company defeased the IW JV portfolio of mortgages payable. As a result, the 45 properties that secured the mortgages payable as of December 31, 2016 are no longer encumbered by mortgages. Debt Maturities The following table shows the scheduled maturities and principal amortization of the Company’s indebtedness as of December 31, 2016 , for each of the next five years and thereafter and the weighted average interest rates by year. The table does not reflect the impact of any 2017 debt activity, such as the defeasance of the IW JV portfolio of mortgages payable or the funding of the $200,000 unsecured term loan due 2023 (Term Loan Due 2023), which closed during the year ended December 31, 2016 and funded on January 3, 2017. 2017 2018 2019 2020 2021 Thereafter Total Debt: Fixed rate debt: Mortgages payable (a) $ 35,023 $ 11,463 $ 433,982 $ 4,334 $ 23,249 $ 265,344 $ 773,395 Fixed rate term loan (b) — — — — 250,000 — 250,000 Unsecured notes payable (c) — — — — 100,000 600,000 700,000 Total fixed rate debt 35,023 11,463 433,982 4,334 373,249 865,344 1,723,395 Variable rate debt: Variable rate term loan and revolving line of credit — 200,000 — 86,000 — — 286,000 Total debt (d) $ 35,023 $ 211,463 $ 433,982 $ 90,334 $ 373,249 $ 865,344 $ 2,009,395 Weighted average interest rate on debt: Fixed rate debt 4.83 % 6.51 % 7.49 % 4.58 % 2.73 % 4.36 % 4.82 % Variable rate debt (e) — 2.22 % — 2.12 % — — 2.19 % Total 4.83 % 2.45 % 7.49 % 2.24 % 2.73 % 4.36 % 4.44 % (a) Excludes mortgage premium of $1,437 and discount of $(622) , net of accumulated amortization, as of December 31, 2016 . (b) $250,000 of London Interbank Offered Rate (LIBOR)-based variable rate debt has been swapped to a fixed rate through two interest rate swaps. The swaps effectively convert one-month floating rate LIBOR to a weighted average fixed rate of 0.6677% through December 31, 2017. (c) Excludes discount of $(971) , net of accumulated amortization, as of December 31, 2016 . (d) The weighted average years to maturity of consolidated indebtedness was 5.3 years as of December 31, 2016 . Total debt excludes capitalized loan fees of $(11,314) , net of accumulated amortization, as of December 31, 2016 , which are included as a reduction to the respective debt balances, and the Term Loan Due 2023, which funded on January 3, 2017. Refer to Note 9 to the consolidated financial statements for further details on the Term Loan Due 2023. (e) Represents interest rates as of December 31, 2016 . The Company plans on addressing its debt maturities through a combination of proceeds from asset dispositions, capital markets transactions and its unsecured revolving line of credit. UNSECURED NOTES PAYABLE The following table summarizes the Company’s unsecured notes payable: December 31, 2016 December 31, 2015 Unsecured Notes Payable Maturity Date Principal Balance Interest Rate/ Weighted Average Interest Rate Principal Interest Rate/ Senior notes – 4.12% due 2021 June 30, 2021 $ 100,000 4.12 % $ 100,000 4.12 % Senior notes – 4.58% due 2024 June 30, 2024 150,000 4.58 % 150,000 4.58 % Senior notes – 4.00% due 2025 March 15, 2025 250,000 4.00 % 250,000 4.00 % Senior notes – 4.08% due 2026 September 30, 2026 100,000 4.08 % — — % Senior notes – 4.24% due 2028 December 28, 2028 100,000 4.24 % — — % 700,000 4.19 % 500,000 4.20 % Discount, net of accumulated amortization (971 ) (1,090 ) Capitalized loan fees, net of accumulated amortization (3,886 ) (3,334 ) Total $ 695,143 $ 495,576 Notes Due 2026 and 2028 On September 30, 2016, the Company issued $100,000 of 10-year 4.08% senior unsecured notes due 2026 in a private placement transaction pursuant to a note purchase agreement it entered into with certain institutional investors on September 30, 2016. Pursuant to the same note purchase agreement, on December 28, 2016, the Company also issued $100,000 of 12-year 4.24% senior unsecured notes due 2028 (Notes Due 2026 and 2028). The proceeds were used to pay down the Company’s unsecured revolving line of credit, early repay certain longer-dated mortgages payable and for general corporate purposes. The note purchase agreement governing the Notes Due 2026 and 2028 contains customary representations, warranties and covenants, and events of default. Pursuant to the terms of the note purchase agreement, the Company is subject to various financial covenants, including the requirement to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; (ii) a minimum interest coverage ratio; (iii) a fixed charge coverage ratio (as set forth in the Company’s unsecured credit facility); and (iv) an unencumbered interest coverage ratio (as set forth in the Company’s unsecured credit facility and the note purchase agreement governing the Notes Due 2021 and 2024). Notes Due 2025 On March 12, 2015, the Company completed a public offering of $250,000 in aggregate principal amount of 4.00% senior unsecured notes due 2025 (Notes Due 2025). The Notes Due 2025 were priced at 99.526% of the principal amount to yield 4.058% to maturity. The proceeds were used to repay a portion of the Company’s unsecured revolving line of credit. The indenture, as supplemented, governing the Notes Due 2025 (the Indenture) contains customary covenants and events of default. Pursuant to the terms of the Indenture, the Company is subject to various financial covenants, including the requirement to maintain the following: (i) maximum secured and total leverage ratios; (ii) a debt service coverage ratio; and (iii) maintenance of an unencumbered assets to unsecured debt ratio. Notes Due 2021 and 2024 On June 30, 2014, the Company completed a private placement of $250,000 of unsecured notes, consisting of $100,000 of 4.12% senior unsecured notes due 2021 and $150,000 of 4.58% senior unsecured notes due 2024 (Notes Due 2021 and 2024). The proceeds were used to repay a portion of the Company’s unsecured revolving line of credit. The note purchase agreement governing the Notes Due 2021 and 2024 contains customary representations, warranties and covenants, and events of default. Pursuant to the terms of the note purchase agreement, the Company is subject to various financial covenants, some of which are based upon the financial covenants in effect in the Company’s primary credit facility, including the requirement to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; (ii) minimum interest coverage and unencumbered interest coverage ratios; and (iii) a minimum consolidated net worth. As of December 31, 2016 , management believes the Company was in compliance with the financial covenants under the Indenture and the note purchase agreements.

Unsecured Notes Payable

Unsecured Notes Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Unsecured Notes Payable	MORTGAGES PAYABLE The following table summarizes the Company’s mortgages payable: December 31, 2016 December 31, 2015 Aggregate Principal Balance Weighted Average Interest Rate Weighted Average Years to Maturity Aggregate Principal Balance Weighted Average Interest Rate Weighted Average Years to Maturity Fixed rate mortgages payable (a) $ 773,395 6.31 % 4.2 $ 1,128,505 (b) 6.08 % 3.9 Premium, net of accumulated amortization 1,437 1,865 Discount, net of accumulated amortization (622 ) (1 ) Capitalized loan fees, net of accumulated amortization (5,026 ) (7,233 ) Mortgages payable, net $ 769,184 $ 1,123,136 (a) The fixed rate mortgages had interest rates ranging from 3.75% to 8.00% and 3.35% to 8.00% as of December 31, 2016 and 2015 , respectively. (b) Includes $7,910 of variable rate mortgage debt that was swapped to a fixed rate as of December 31, 2015. During the year ended December 31, 2016 , the Company repaid or defeased mortgages payable in the total amount of $263,548 which had a weighted average fixed interest rate of 5.09% and made scheduled principal payments of $13,180 related to amortizing loans. One of the mortgages repaid, with a principal balance of $7,750 at maturity, had been swapped to a fixed rate and the Company had guaranteed a portion of the outstanding balance. Upon repayment of the mortgage on its scheduled maturity date, the interest rate swap expired and the Company’s guarantee was extinguished. In addition, during the year ended December 31, 2016 , the Company disposed of The Gateway through a lender-directed sale in full satisfaction of its $94,353 mortgage obligation, which had a fixed interest rate of 6.57% . Immediately prior to the disposition, the lender reduced the Company’s loan obligation to $75,000 which was assumed by the buyer in connection with the disposition. Along with the loan reduction, the lender received the balance of the restricted escrows that they held and the rights to unpaid accounts receivable and forgave accrued interest, resulting in a net gain on extinguishment of debt of $13,653 . The Company also assumed a mortgage payable with a principal balance of $15,971 and an interest rate of 3.75% that matures in 2031 in conjunction with the acquisition of The Shoppes at Union Hill. The majority of the Company’s mortgages payable require monthly payments of principal and interest, and some of the mortgages require reserves for real estate taxes and certain other costs. The Company’s properties and the related tenant leases are pledged as collateral for its mortgages payable. At times, the Company has borrowed funds financed as part of a cross-collateralized package, with cross-default provisions. In those circumstances, one or more of the Company’s properties may secure the debt of another of the Company’s properties. As of December 31, 2016 , the Company had a portfolio of mortgages payable with a principal balance of $379,435 that was cross-collateralized by 45 properties and scheduled to mature in 2019 (known as the IW JV portfolio of mortgages payable). Subsequent to December 31, 2016, the Company defeased the IW JV portfolio of mortgages payable. As a result, the 45 properties that secured the mortgages payable as of December 31, 2016 are no longer encumbered by mortgages. Debt Maturities The following table shows the scheduled maturities and principal amortization of the Company’s indebtedness as of December 31, 2016 , for each of the next five years and thereafter and the weighted average interest rates by year. The table does not reflect the impact of any 2017 debt activity, such as the defeasance of the IW JV portfolio of mortgages payable or the funding of the $200,000 unsecured term loan due 2023 (Term Loan Due 2023), which closed during the year ended December 31, 2016 and funded on January 3, 2017. 2017 2018 2019 2020 2021 Thereafter Total Debt: Fixed rate debt: Mortgages payable (a) $ 35,023 $ 11,463 $ 433,982 $ 4,334 $ 23,249 $ 265,344 $ 773,395 Fixed rate term loan (b) — — — — 250,000 — 250,000 Unsecured notes payable (c) — — — — 100,000 600,000 700,000 Total fixed rate debt 35,023 11,463 433,982 4,334 373,249 865,344 1,723,395 Variable rate debt: Variable rate term loan and revolving line of credit — 200,000 — 86,000 — — 286,000 Total debt (d) $ 35,023 $ 211,463 $ 433,982 $ 90,334 $ 373,249 $ 865,344 $ 2,009,395 Weighted average interest rate on debt: Fixed rate debt 4.83 % 6.51 % 7.49 % 4.58 % 2.73 % 4.36 % 4.82 % Variable rate debt (e) — 2.22 % — 2.12 % — — 2.19 % Total 4.83 % 2.45 % 7.49 % 2.24 % 2.73 % 4.36 % 4.44 % (a) Excludes mortgage premium of $1,437 and discount of $(622) , net of accumulated amortization, as of December 31, 2016 . (b) $250,000 of London Interbank Offered Rate (LIBOR)-based variable rate debt has been swapped to a fixed rate through two interest rate swaps. The swaps effectively convert one-month floating rate LIBOR to a weighted average fixed rate of 0.6677% through December 31, 2017. (c) Excludes discount of $(971) , net of accumulated amortization, as of December 31, 2016 . (d) The weighted average years to maturity of consolidated indebtedness was 5.3 years as of December 31, 2016 . Total debt excludes capitalized loan fees of $(11,314) , net of accumulated amortization, as of December 31, 2016 , which are included as a reduction to the respective debt balances, and the Term Loan Due 2023, which funded on January 3, 2017. Refer to Note 9 to the consolidated financial statements for further details on the Term Loan Due 2023. (e) Represents interest rates as of December 31, 2016 . The Company plans on addressing its debt maturities through a combination of proceeds from asset dispositions, capital markets transactions and its unsecured revolving line of credit. UNSECURED NOTES PAYABLE The following table summarizes the Company’s unsecured notes payable: December 31, 2016 December 31, 2015 Unsecured Notes Payable Maturity Date Principal Balance Interest Rate/ Weighted Average Interest Rate Principal Interest Rate/ Senior notes – 4.12% due 2021 June 30, 2021 $ 100,000 4.12 % $ 100,000 4.12 % Senior notes – 4.58% due 2024 June 30, 2024 150,000 4.58 % 150,000 4.58 % Senior notes – 4.00% due 2025 March 15, 2025 250,000 4.00 % 250,000 4.00 % Senior notes – 4.08% due 2026 September 30, 2026 100,000 4.08 % — — % Senior notes – 4.24% due 2028 December 28, 2028 100,000 4.24 % — — % 700,000 4.19 % 500,000 4.20 % Discount, net of accumulated amortization (971 ) (1,090 ) Capitalized loan fees, net of accumulated amortization (3,886 ) (3,334 ) Total $ 695,143 $ 495,576 Notes Due 2026 and 2028 On September 30, 2016, the Company issued $100,000 of 10-year 4.08% senior unsecured notes due 2026 in a private placement transaction pursuant to a note purchase agreement it entered into with certain institutional investors on September 30, 2016. Pursuant to the same note purchase agreement, on December 28, 2016, the Company also issued $100,000 of 12-year 4.24% senior unsecured notes due 2028 (Notes Due 2026 and 2028). The proceeds were used to pay down the Company’s unsecured revolving line of credit, early repay certain longer-dated mortgages payable and for general corporate purposes. The note purchase agreement governing the Notes Due 2026 and 2028 contains customary representations, warranties and covenants, and events of default. Pursuant to the terms of the note purchase agreement, the Company is subject to various financial covenants, including the requirement to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; (ii) a minimum interest coverage ratio; (iii) a fixed charge coverage ratio (as set forth in the Company’s unsecured credit facility); and (iv) an unencumbered interest coverage ratio (as set forth in the Company’s unsecured credit facility and the note purchase agreement governing the Notes Due 2021 and 2024). Notes Due 2025 On March 12, 2015, the Company completed a public offering of $250,000 in aggregate principal amount of 4.00% senior unsecured notes due 2025 (Notes Due 2025). The Notes Due 2025 were priced at 99.526% of the principal amount to yield 4.058% to maturity. The proceeds were used to repay a portion of the Company’s unsecured revolving line of credit. The indenture, as supplemented, governing the Notes Due 2025 (the Indenture) contains customary covenants and events of default. Pursuant to the terms of the Indenture, the Company is subject to various financial covenants, including the requirement to maintain the following: (i) maximum secured and total leverage ratios; (ii) a debt service coverage ratio; and (iii) maintenance of an unencumbered assets to unsecured debt ratio. Notes Due 2021 and 2024 On June 30, 2014, the Company completed a private placement of $250,000 of unsecured notes, consisting of $100,000 of 4.12% senior unsecured notes due 2021 and $150,000 of 4.58% senior unsecured notes due 2024 (Notes Due 2021 and 2024). The proceeds were used to repay a portion of the Company’s unsecured revolving line of credit. The note purchase agreement governing the Notes Due 2021 and 2024 contains customary representations, warranties and covenants, and events of default. Pursuant to the terms of the note purchase agreement, the Company is subject to various financial covenants, some of which are based upon the financial covenants in effect in the Company’s primary credit facility, including the requirement to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; (ii) minimum interest coverage and unencumbered interest coverage ratios; and (iii) a minimum consolidated net worth. As of December 31, 2016 , management believes the Company was in compliance with the financial covenants under the Indenture and the note purchase agreements.

Unsecured Term Loans and Revolv

Unsecured Term Loans and Revolving Line of Credit	12 Months Ended
	Dec. 31, 2016
Line of Credit Facility [Abstract]
Unsecured Term Loans and Revolving Line of Credit	UNSECURED TERM LOANS AND REVOLVING LINE OF CREDIT Unsecured Credit Facility On January 6, 2016, the Company entered into its fourth amended and restated unsecured credit agreement with a syndicate of financial institutions led by KeyBank National Association serving as administrative agent and Wells Fargo Bank, National Association serving as syndication agent to provide for an unsecured credit facility aggregating $1,200,000 (Unsecured Credit Facility). The Company’s Unsecured Credit Facility consists of a $750,000 unsecured revolving line of credit, a $250,000 unsecured term loan and a $200,000 unsecured term loan and is priced on a leverage grid at a rate of LIBOR plus a credit spread. The Company received investment grade credit ratings from two rating agencies in 2014. In accordance with the unsecured credit agreement, the Company may elect to convert to an investment grade pricing grid. As of December 31, 2016 , making such an election would have resulted in a higher interest rate and, as such, the Company has not made the election to convert to an investment grade pricing grid. The following table summarizes the key terms of the Company’s Unsecured Credit Facility: Leverage-Based Pricing Ratings-Based Pricing Unsecured Credit Facility Maturity Date Extension Option Extension Fee Credit Spread Unused Fee Credit Spread Facility Fee $250,000 unsecured term loan 1/5/2021 N/A N/A 1.30% - 2.20% N/A 0.90% - 1.75% N/A $200,000 unsecured term loan 5/11/2018 2 one year 0.15% 1.45% - 2.20% N/A 1.05% - 2.05% N/A $750,000 unsecured revolving line of credit 1/5/2020 2 six month 0.075% 1.35% - 2.25% 0.15% - 0.25% 0.85% - 1.55% 0.125% - 0.30% The Company’s Unsecured Credit Facility has a $400,000 accordion option that allows the Company, at its election, to increase the total credit facility up to $1,600,000 , subject to (i) customary fees and conditions including, but not limited to, the absence of an event of default as defined in the agreement and (ii) the Company’s ability to obtain additional lender commitments. The following table summarizes the Company’s Unsecured Credit Facility: December 31, 2016 December 31, 2015 Unsecured Credit Facility Balance Interest Rate/ Weighted Average Interest Rate Balance Interest Rate/ $250,000 unsecured term loan – fixed rate (a) $ 250,000 1.97 % $ — — % $200,000 unsecured term loan – variable rate 200,000 2.22 % — — % $450,000 unsecured term loan – fixed rate portion (b) — — % 300,000 1.99 % $450,000 unsecured term loan – variable rate portion — — % 150,000 1.88 % Subtotal 450,000 450,000 Capitalized loan fees, net of accumulated amortization (2,402 ) (2,474 ) Term loans, net 447,598 447,526 Revolving line of credit – variable rate (c) 86,000 2.12 % 100,000 1.93 % Total unsecured credit facility, net $ 533,598 2.09 % $ 547,526 1.95 % (a) As of December 31, 2016 , $250,000 of LIBOR-based variable rate debt has been swapped to a weighted average fixed rate of 0.6677% plus a credit spread based on a leverage grid ranging from 1.30% to 2.20% through December 31, 2017. The applicable credit spread was 1.30% as of December 31, 2016 . (b) As of December 31, 2015 , $300,000 of LIBOR-based variable rate debt had been swapped to a fixed rate of 0.53875% plus a credit spread based on a leverage grid ranging from 1.45% to 2.00% through February 2016. The applicable credit spread was 1.45% as of December 31, 2015 . (c) Excludes capitalized loan fees, which are included in “Other assets, net” in the accompanying consolidated balance sheets. The fourth amended and restated unsecured credit agreement (Unsecured Credit Agreement) contains customary representations, warranties and covenants, and events of default. Pursuant to the terms of the Unsecured Credit Agreement, the Company is subject to various financial covenants, including the requirement to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; and (ii) minimum fixed charge and unencumbered interest coverage ratios. As of December 31, 2016 , management believes the Company was in compliance with the financial covenants and default provisions under the Unsecured Credit Agreement. The Company previously had a $1,000,000 unsecured credit facility that consisted of a $550,000 unsecured revolving line of credit and a $450,000 unsecured term loan that bore interest at a rate of LIBOR plus a credit spread ranging from 1.45% to 2.05% and was scheduled to mature on May 12, 2017 for the unsecured revolving line of credit and May 11, 2018 for the unsecured term loan. Term Loan Due 2023 On November 22, 2016, the Company closed on a seven -year $200,000 unsecured term loan with a group of financial institutions, which funded on January 3, 2017. The Term Loan Due 2023 is priced on a leverage grid at a rate of LIBOR plus a credit spread ranging from 1.70% to 2.55% . In accordance with the term loan agreement (Term Loan Agreement), the Company may elect to convert to an investment grade pricing grid. As of December 31, 2016 , making such an election would have resulted in a higher interest rate and, as such, the Company has not made the election to convert to an investment grade pricing grid. The Term Loan Due 2023 matures on November 22, 2023 and has a $100,000 accordion option that allows the Company, at its election, to increase the total unsecured term loan up to $300,000 , subject to customary fees and conditions, including the absence of an event of default as defined in the Term Loan Agreement. The Term Loan Agreement contains customary representations, warranties and covenants, and events of default, including financial covenants that require the Company to maintain the following: (i) maximum unencumbered, secured and consolidated leverage ratios; and (ii) minimum fixed charge and unencumbered interest coverage ratios. As of December 31, 2016 , management believes the Company was in compliance with the financial covenants and default provisions under the Term Loan Agreement.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES The Company’s objective in using interest rate derivatives is to manage its exposure to interest rate movements and add stability to interest expense. To accomplish this objective, the Company uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable rate amounts from a counterparty in exchange for the Company making fixed rate payments over the life of the agreement without exchange of the underlying notional amount. The Company utilizes two interest rate swaps to hedge the variable cash flows associated with variable rate debt. The effective portion of changes in the fair value of derivatives that are designated and that qualify as cash flow hedges is recorded in “Accumulated other comprehensive income (loss)” and is reclassified to interest expense as interest payments are made on the Company’s variable rate debt. Over the next 12 months, the Company estimates that an additional $722 will be reclassified as a decrease to interest expense. The ineffective portion of the change in fair value of derivatives is recognized directly in earnings. During the year ended December 31, 2016 , the Company entered into the following two interest rate swaps which effectively convert one-month floating rate LIBOR to a fixed rate: Effective Date Notional Fixed Interest Rate Termination Date March 1, 2016 $ 100,000 0.6591 % December 31, 2017 May 16, 2016 $ 150,000 0.6735 % December 31, 2017 The Company previously had a $300,000 interest rate swap that matured on February 24, 2016. In addition, during the year ended December 31, 2016, the Company repaid a $7,750 variable rate mortgage payable that had been swapped to a fixed rate. Upon repayment of the mortgage on its scheduled maturity date, the interest rate swap expired. As of December 31, 2015, the outstanding principal balance of this variable rate mortgage was $7,910 . The following table summarizes the Company’s interest rate swaps that were designated as cash flow hedges of interest rate risk: Number of Instruments Notional Interest Rate Derivatives December 31, December 31, December 31, December 31, Interest rate swaps 2 2 $ 250,000 $ 307,910 The table below presents the estimated fair value of the Company’s derivative financial instruments as well as their classification in the consolidated balance sheets. The valuation techniques utilized are described in Note 16 to the consolidated financial statements. December 31, 2016 December 31, 2015 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedges: Interest rate swaps Other assets, net $ 743 N/A $ — Interest rate swaps N/A $ — Other liabilities $ 85 The following table presents the effect of the Company’s derivative financial instruments on the accompanying consolidated statements of operations and other comprehensive income: Derivatives in Cash Flow Hedging Relationships Amount of (Gain) Loss Recognized in Other Comprehensive Income on Derivative (Effective Portion) Location of Loss Reclassified from Accumulated Other Comprehensive Income (AOCI) into Income (Effective Portion) Amount of Loss Reclassified from AOCI into Income (Effective Portion) Location of Gain Recognized In Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) 2016 2015 2016 2015 2016 2015 Interest rate swaps $ (399 ) $ 643 Interest expense $ 408 $ 1,095 Other income, net $ (21 ) $ (25 ) Subsequent to December 31, 2016, the Company entered into two agreements to swap a total of $200,000 of LIBOR-based variable rate debt to a fixed interest rate of 1.2628% through November 22, 2018. Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision whereby if the Company defaults on the related indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its corresponding derivative obligation. The Company’s agreements with each of its derivative counterparties also contain a provision whereby if the Company consolidates with, merges with or into, or transfers all or substantially all of its assets to another entity and the creditworthiness of the resulting, surviving or transferee entity is materially weaker than the Company’s, the counterparty has the right to terminate the derivative obligations. As of December 31, 2016 , the Company did not have any derivatives in a net liability position and has not posted any collateral related to these agreements.

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Joint Ventures	INVESTMENT IN UNCONSOLIDATED JOINT VENTURES The Company did not have any investments in unconsolidated joint ventures as of December 31, 2016 and 2015. On June 5, 2014, the Company dissolved its joint venture arrangement with its partner in MS Inland, an unconsolidated joint venture formed with a large state pension fund, through the acquisition of the six properties owned by the joint venture. The Company was the managing member of the venture and earned fees for providing property management and leasing services. The Company had the ability to exercise significant influence, but did not have financial or operating control over the joint venture, and as a result, the Company accounted for its investment pursuant to the equity method of accounting. Through December 1, 2014, Oak Property & Casualty LLC (the Captive) was an insurance association owned by the Company and three other unaffiliated parties that was formed to insure/reimburse the members’ deductible obligations for property and general liability insurance claims subject to certain limitations. The Captive was determined to be a VIE, but because the Company did not hold the power to most significantly impact the Captive’s performance, the Company was not considered the primary beneficiary. Accordingly, the Company’s investment in the Captive was accounted for pursuant to the equity method of accounting. The Company’s risk of loss was limited to its investment and it was not required to fund additional capital to the Captive. Effective December 1, 2014, the Company terminated its participation in the Captive and established a new wholly-owned captive insurance company. See Note 17 to the consolidated financial statements for further details. Under the equity method of accounting, the Company’s net equity investment in each unconsolidated joint venture was reflected in the accompanying consolidated balance sheets and its share of net income or loss from each unconsolidated joint venture was reflected in the accompanying consolidated statements of operations and other comprehensive income. Distributions that were related to income from operations were included as operating activities and distributions that were related to capital transactions were included as investing activities in the accompanying consolidated statements of cash flows. Combined condensed financial information of the Company’s unconsolidated joint ventures (at 100% ) for the year ended December 31, 2014, the period attributable to the Company’s ownership, is summarized as follows: Other Joint Ventures (a) 2014 Revenues Property related income $ 11,853 Other income 6,679 Total revenues 18,532 Expenses Operating expenses 1,660 Real estate taxes 2,339 Depreciation and amortization 3,948 General and administrative expenses 268 Interest expense 3,028 Other expense, net 11,921 Total expenses 23,164 Loss from continuing operations (4,632 ) Net loss $ (4,632 ) (a) On June 5, 2014, the Company dissolved its joint venture arrangement with its partner in MS Inland. In addition, effective December 1, 2014, the Company terminated its investment in the Captive. Profits, Losses and Capital Activity The following table summarizes the Company’s share of net income (loss) as well as net cash distributions from (contributions to) each unconsolidated joint venture for the year ended December 31, 2014: The Company’s Share of Net Cash Distributions from/(Contributions to) Joint Ventures Fees Earned by the Company Joint Venture 2014 2014 2014 MS Inland (a) $ 241 $ 1,360 $ 338 Captive (b) (2,444 ) (25 ) — $ (2,203 ) $ 1,335 $ 338 (a) On June 5, 2014, the Company dissolved its joint venture arrangement with its partner in MS Inland. (b) Effective December 1, 2014, the Company terminated its participation in the Captive. In addition to the Company’s share of net income (loss) for each unconsolidated joint venture, amortization of basis differences is recorded within “Equity in loss of unconsolidated joint ventures, net” in the accompanying consolidated statements of operations and other comprehensive income. Such basis differences resulted from the differences between the Company’s net book values based on historical cost and the fair values of investment properties contributed to its unconsolidated joint ventures and are amortized over the depreciable lives of the joint ventures’ real estate assets and liabilities. The Company recorded amortization of $115 , which was accretive to net income, related to these differences during the year ended December 31, 2014. The Company did not have any unconsolidated joint ventures as of December 31, 2016 and 2015 . When the Company holds investments in unconsolidated joint ventures, they are reviewed for potential impairment, in addition to impairment evaluations of the individual assets underlying the investments, each reporting period or whenever events or changes in circumstances warrant such an evaluation. To determine whether impairment, if any, is other-than-temporary, the Company considers whether it has the ability and intent to hold the investment until its carrying value is fully recovered. The Company did not record any impairment charges to its investments in unconsolidated joint ventures during the year ended December 31, 2014. Acquisitions On June 5, 2014, the Company dissolved its joint venture arrangement with its partner in MS Inland by acquiring its partner’s 80% ownership interest in the six properties owned by the joint venture (see Note 3 to the consolidated financial statements). The six properties had, at acquisition, a combined fair value of $292,500 , with the Company’s partner’s interest valued at $234,000 . The Company paid total cash consideration of approximately $120,600 before transaction costs and prorations and after assumption of the joint venture’s in-place mortgage financing on those properties of $141,698 at a weighted average interest rate of 4.79% . The Company accounted for this transaction as a business combination achieved in stages and recognized a gain on change in control of investment properties of $24,158 as a result of remeasuring the carrying value of its 20% interest in the six acquired properties to fair value. The following table summarizes the calculation of the gain on change in control of investment properties recognized in conjunction with the transaction discussed above: Fair value of the net assets acquired at 100% $ 150,802 Fair value of the net assets acquired at 20% $ 30,160 Less: Carrying value of the Company’s previous investment in the six properties acquired on June 5, 2014 6,002 Gain on change in control of investment properties $ 24,158

Equity

Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Equity	EQUITY On March 7, 2013, the Company established an at-the-market (ATM) equity program under which it sold 5,547 shares of its Class A common stock during the year ended December 31, 2013. The shares were issued at a weighted average price per share of $15.29 for proceeds of $83,527 , net of commissions and offering costs. No shares were issued during the years ended December 31, 2014 and 2015 and the 2013 ATM equity program expired in November 2015. On December 21, 2015, the Company entered into a new ATM equity program under which it may issue and sell shares of its Class A common stock, having an aggregate offering price of up to $250,000 , from time to time. Actual sales may depend on a variety of factors, including, among others, market conditions and the trading price of the Company’s Class A common stock. Any net proceeds are expected to be used for general corporate purposes, which may include the funding of acquisitions and redevelopment activities and the repayment of debt, including the Company’s Unsecured Credit Facility. The Company did not sell any shares under its ATM equity program during the years ended December 31, 2016 and 2015 . As of December 31, 2016 , the Company had Class A common shares having an aggregate offering price of up to $250,000 remaining available for sale under its ATM equity program. On December 15, 2015, the Company’s board of directors authorized a common stock repurchase program under which the Company may repurchase, from time to time, up to a maximum of $250,000 of shares of its Class A common stock. The shares may be repurchased in the open market or in privately negotiated transactions and are canceled upon repurchase. The timing and actual number of shares repurchased will depend on a variety of factors, including price in absolute terms and in relation to the value of the Company’s assets, corporate and regulatory requirements, market conditions and other corporate liquidity requirements and priorities. The common stock repurchase program may be suspended or terminated at any time without prior notice. The Company did not repurchase any shares during the year ended December 31, 2015. During the year ended December 31, 2016 , the Company repurchased 591 shares at an average price per share of $14.93 for a total of $8,841 . As of December 31, 2016 , $241,159 remained available under the repurchase program.

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings per Share	EARNINGS PER SHARE The following table summarizes the components used in the calculation of basic and diluted earnings per share (EPS): Year Ended December 31, 2016 2015 2014 Numerator: Income from continuing operations $ 37,110 $ 3,832 $ 597 Gain on sales of investment properties 129,707 121,792 42,196 Net income from continuing operations attributable to noncontrolling interest — (528 ) — Preferred stock dividends (9,450 ) (9,450 ) (9,450 ) Income from continuing operations attributable to common shareholders 157,367 115,646 33,343 Income from discontinued operations — — 507 Net income attributable to common shareholders 157,367 115,646 33,850 Distributions paid on unvested restricted shares (445 ) (481 ) (225 ) Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 156,922 $ 115,165 $ 33,625 Denominator: Denominator for earnings per common share – basic: Weighted average number of common shares outstanding 236,651 (a) 236,380 (b) 236,184 (c) Effect of dilutive securities: Stock options 2 (d) 2 (d) 3 (d) RSUs 298 (e) — (f) — Denominator for earnings per common share – diluted: Weighted average number of common and common equivalent shares outstanding 236,951 236,382 236,187 (a) Excludes 542 shares of unvested restricted common stock, which equate to 637 shares on a weighted average basis for the year ended December 31, 2016 . These shares will continue to be excluded from the computation of basic EPS until contingencies are resolved and the shares are released. (b) Excludes 788 shares of unvested restricted common stock, which equate to 768 shares on a weighted average basis for the year ended December 31, 2015 . These shares were excluded from the computation of basic EPS as the contingencies remained and the shares had not been released as of the end of the reporting period. (c) Excludes 396 shares of unvested restricted common stock, which equate to 364 shares on a weighted average basis for the year ended December 31, 2014 . These shares were excluded from the computation of basic EPS as the contingencies remained and the shares had not been released as of the end of the reporting period. (d) There were outstanding options to purchase 41 , 53 and 64 shares of common stock as of December 31, 2016 , 2015 and 2014 , respectively, at a weighted average exercise price of $19.25 , $19.39 and $19.32 , respectively. Of these totals, outstanding options to purchase 35 , 45 and 54 shares of common stock as of December 31, 2016 , 2015 and 2014 , respectively, at a weighted average exercise price of $20.55 , $20.74 and $20.72 , respectively, have been excluded from the common shares used in calculating diluted earnings per share as including them would be anti-dilutive. (e) There were 391 RSUs eligible for future conversion following the performance period as of December 31, 2016 (see Note 5 to the consolidated financial statements), which equate to 367 RSUs on a weighted average basis for the year ended December 31, 2016. These contingently issuable shares are included in diluted EPS based on the weighted average number of shares that would be outstanding during the period, if any, assuming the end of the reporting period was the end of the contingency periods. (f) There were 174 RSUs eligible for future conversion following the performance period as of December 31, 2015, which equate to 101 RSUs on a weighted average basis for the year ended December 31, 2015. These contingently issuable shares are included in diluted EPS based on the weighted average number of shares that would be outstanding during the period, if any, assuming the end of the reporting period was the end of the contingency period. Assuming December 31, 2015 was the end of the contingency period, none of these contingently issuable shares would have been outstanding.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company has elected to be taxed as a REIT under the Code. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement to annually distribute to its shareholders at least 90% of its REIT taxable income, determined without regard to the dividends paid deduction and excluding net capital gains. The Company intends to continue to adhere to these requirements and to maintain its REIT status. As a REIT, the Company is entitled to a deduction for some or all of the distributions it pays to shareholders. Accordingly, the Company is generally subject to U.S. federal income taxes on any taxable income that is not currently distributed to its shareholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income taxes and may not be able to qualify as a REIT until the fifth subsequent taxable year. Notwithstanding the Company’s qualification as a REIT, the Company may be subject to certain state and local taxes on its income or properties. In addition, the Company’s consolidated financial statements include the operations of one wholly-owned subsidiary that has jointly elected to be treated as a TRS and is subject to U.S. federal, state and local income taxes at regular corporate tax rates. The Company did not record any income tax expense related to the TRS for the years ended December 31, 2016 , 2015 and 2014 . As a REIT, the Company may also be subject to certain U.S. federal excise taxes if it engages in certain types of transactions. Deferred income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which these temporary differences are expected to reverse. Deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of available evidence, including future reversal of existing taxable temporary differences, the magnitude and timing of future projected taxable income and tax planning strategies. The Company believes that it is not more likely than not that a portion of its net deferred tax asset will be realized in future periods and therefore, has recorded a valuation allowance for a portion of the balance, resulting in no effect on the consolidated financial statements. The Company’s deferred tax assets and liabilities as of December 31, 2016 and 2015 were as follows: 2016 2015 Deferred tax assets: Basis difference in properties $ — $ 1,109 Capital loss carryforward 9,628 9,885 Net operating loss carryforward 10,677 12,543 Other 870 81 Gross deferred tax assets 21,175 23,618 Less: valuation allowance (21,175 ) (23,618 ) Total deferred tax assets — — Deferred tax liabilities: Other — — Net deferred tax assets $ — $ — The Company’s deferred tax assets and liabilities result from the activities of the TRS. As of December 31, 2016 , the TRS had a capital loss carryforward and a federal net operating loss carryforward of $27,510 and $30,507 , respectively, which if not utilized, will begin to expire in 2019 and 2031, respectively. Differences between net income from the consolidated statements of operations and other comprehensive income and the Company’s taxable income primarily relate to the recognition of sales of investment properties, impairment charges recorded on investment properties and the timing of both revenue recognition and investment property depreciation and amortization. The following table reconciles the Company’s net income to REIT taxable income before the dividends paid deduction for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Net income attributable to the Company $ 166,817 $ 125,096 $ 43,300 Book/tax differences (50,950 ) 2,344 71,910 REIT taxable income subject to 90% dividend requirement $ 115,867 $ 127,440 $ 115,210 The Company’s dividends paid deduction for the years ended December 31, 2016 , 2015 and 2014 is summarized below: 2016 2015 2014 Cash distributions paid $ 166,285 $ 166,064 $ 166,025 Less: non-dividend distributions (50,418 ) (38,624 ) (50,815 ) Total dividends paid deduction attributable to earnings and profits $ 115,867 $ 127,440 $ 115,210 A summary of the tax characterization of the distributions paid per share to shareholders of the Company’s preferred stock and common stock for the years ended December 31, 2016 , 2015 and 2014 follows: 2016 2015 2014 Preferred stock Ordinary dividends $ 1.75 $ 1.75 $ 1.75 Non-dividend distributions — — — Total distributions per share $ 1.75 $ 1.75 $ 1.75 Common stock Ordinary dividends $ 0.45 $ 0.50 $ 0.45 Non-dividend distributions 0.21 0.16 0.21 Total distributions per share $ 0.66 $ 0.66 $ 0.66 The Company records a benefit for uncertain income tax positions if the result of a tax position meets a “more likely than not” recognition threshold. No liabilities have been recorded as of December 31, 2016 or 2015 as a result of this provision. The Company expects no significant increases or decreases in unrecognized tax benefits due to changes in tax positions within one year of December 31, 2016 . Returns for the calendar years 2013 through 2016 remain subject to examination by federal and various state tax jurisdictions.

Provision for Impairment of Inv

Provision for Impairment of Investment Properties	12 Months Ended
	Dec. 31, 2016
Impairment or Disposal of Tangible Assets Disclosure [Abstract]
Provision for Impairment of Investment Properties	PROVISION FOR IMPAIRMENT OF INVESTMENT PROPERTIES As of December 31, 2016 , 2015 and 2014 , the Company identified indicators of impairment at certain of its properties. Such indicators included a low occupancy rate, difficulty in leasing space and related cost of re-leasing, financially troubled tenants or reduced anticipated holding periods. The following table summarizes the results of these analyses as of December 31, 2016 , 2015 and 2014 : December 31, 2016 2015 2014 Number of properties for which indicators of impairment were identified 7 3 (a) 8 (b) Less: number of properties for which an impairment charge was recorded 2 — 3 Less: number of properties that were held for sale as of the date the analysis was performed for which indicators of impairment were identified but no impairment charge was recorded 2 — 1 Remaining properties for which indicators of impairment were identified but no impairment charge was considered necessary 3 3 4 Weighted average percentage by which the projected undiscounted cash flows exceeded its respective carrying value for each of the remaining properties (c) 21 % 42 % 48 % (a) Includes one property which has subsequently been sold as of December 31, 2016 . (b) Includes seven properties which have subsequently been sold as of December 31, 2016 . (c) Based upon the estimated holding period for each asset where an undiscounted cash flow analysis was performed. The Company recorded the following investment property impairment charges during the year ended December 31, 2016: Property Name Property Type Impairment Date Square Footage Provision for Impairment of Investment Properties South Billings Center (a) Development Various (a) — $ 3,007 Mid-Hudson Center (b) Multi-tenant retail June 30, 2016 235,600 4,142 Saucon Valley Square (c) Multi-tenant retail September 30, 2016 80,700 4,742 Crown Theater (d) Single-user retail December 31, 2016 74,200 5,985 Rite Aid Store (Eckerd), Culver Rd. (e) Single-user retail December 31, 2016 10,900 2,500 $ 20,376 Estimated fair value of impaired properties as of impairment date $ 40,850 (a) An impairment charge was recorded on March 31, 2016 based upon the terms and conditions of an executed sales contract, which was subsequently terminated. The property, which was not under active development, was sold on December 16, 2016 and additional impairment was recognized pursuant to the terms and conditions of an executed sales contract. (b) The Company recorded an impairment charge based upon the terms and conditions of an executed sales contract. This property was classified as held for sale as of June 30, 2016 and was sold on July 21, 2016. (c) The Company recorded an impairment charge driven by a change in the estimated holding period for the property. (d) The Company recorded an impairment charge upon re-evaluating the strategic alternatives for the property. (e) The Company recorded an impairment charge based upon the terms and conditions of a bona fide purchase offer. This property was sold on January 27, 2017. The Company recorded the following investment property impairment charges during the year ended December 31, 2015: Property Name Property Type Impairment Date Square Footage Provision for Impairment of Investment Properties Massillon Commons (a) Multi-tenant retail June 4, 2015 245,900 $ 2,289 Traveler’s Office Building (a) Single-user office June 30, 2015 50,800 1,655 Shaw’s Supermarket (a) Single-user retail August 6, 2015 65,700 169 Southgate Plaza (a) Multi-tenant retail December 18, 2015 86,100 2,484 Bellevue Mall (a) Development December 31, 2015 369,300 13,340 $ 19,937 Estimated fair value of impaired properties as of impairment date $ 43,720 (a) The Company recorded impairment charges based upon the terms and conditions of an executed sales contract for the respective properties, which were sold during 2015. The Company recorded the following investment property impairment charges during the year ended December 31, 2014: Property Name Property Type Impairment Date Square Footage Provision for Impairment of Investment Properties Midtown Center (a) Multi-tenant retail March 31, 2014 408,500 $ 394 Gloucester Town Center (b) Multi-tenant retail Various (b) 107,200 6,148 Boston Commons (a) Multi-tenant retail August 19, 2014 103,400 453 Four Peaks Plaza (a) Multi-tenant retail August 27, 2014 140,400 4,154 Shaw’s Supermarket (c) Single-user retail September 30, 2014 65,700 6,230 The Gateway (d) Multi-tenant retail September 30, 2014 623,200 42,999 Newburgh Crossing (a) Multi-tenant retail December 22, 2014 62,900 1,139 Hartford Insurance Building (e) Single-user office December 31, 2014 97,400 5,782 Citizen’s Property Insurance Building (e) Single-user office December 31, 2014 59,800 4,341 Aon Hewitt East Campus (f) Single-user office December 31, 2014 343,000 563 Total $ 72,203 Estimated fair value of impaired properties as of impairment date $ 190,953 (a) The Company recorded impairment charges based upon the terms and conditions of an executed sales contract for each of the respective properties, which were sold during 2014. (b) An impairment charge was recorded on June 30, 2014 based upon the terms of a bona fide purchase offer and additional impairment was recognized on September 30, 2014 pursuant to the terms and conditions of an executed sales contract. (c) The Company recorded an impairment charge upon re-evaluating the strategic alternatives for the property. (d) The Company recorded an impairment charge as a result of a combination of factors including the expected impact on future operating results stemming from a re-evaluation of the anticipated positioning of, and tenant population at, the property and a re-evaluation of other potential strategic alternatives for the property. This property was sold on February 1, 2016. (e) The Company recorded impairment charges driven by changes in the estimated holding periods for the properties. (f) The Company recorded an impairment charge based upon the terms and conditions of an executed sales contract. This property was classified as held for sale as of December 31, 2014 and was sold on January 20, 2015. The Company can provide no assurance that material impairment charges with respect to its investment properties will not occur in future periods.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments The following table presents the carrying value and estimated fair value of the Company’s financial instruments: December 31, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Financial assets: Derivative asset $ 743 $ 743 $ — $ — Financial liabilities: Mortgages payable, net $ 769,184 $ 833,210 $ 1,123,136 $ 1,213,620 Unsecured notes payable, net $ 695,143 $ 679,212 $ 495,576 $ 486,701 Unsecured term loans, net $ 447,598 $ 450,421 $ 447,526 $ 450,000 Unsecured revolving line of credit $ 86,000 $ 86,130 $ 100,000 $ 100,000 Derivative liability $ — $ — $ 85 $ 85 The carrying value of the derivative asset is included in “Other assets, net” and the carrying value of the derivative liability is included in “Other liabilities” in the accompanying consolidated balance sheets. Fair Value Hierarchy A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability in an orderly transaction. The hierarchy for inputs used in measuring fair value are as follows: • Level 1 Inputs — Unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2 Inputs — Observable inputs other than quoted prices in active markets for identical assets and liabilities. • Level 3 Inputs — Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Recurring Fair Value Measurements The following table presents the Company’s financial instruments, which are measured at fair value on a recurring basis, by the level in the fair value hierarchy within which those measurements fall. Methods and assumptions used to estimate the fair value of these instruments are described after the table. Fair Value Level 1 Level 2 Level 3 Total December 31, 2016 Derivative asset $ — $ 743 $ — $ 743 December 31, 2015 Derivative liability $ — $ 85 $ — $ 85 Derivatives: The fair value of the derivative asset and derivative liability are determined using a discounted cash flow analysis on the expected future cash flows of each derivative. This analysis utilizes observable market data including forward yield curves and implied volatilities to determine the market’s expectation of the future cash flows of the variable component. The fixed and variable components of the derivative are then discounted using calculated discount factors developed based on the LIBOR swap rate and are aggregated to arrive at a single valuation for the period. The Company also incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of December 31, 2016 and 2015 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation. As a result, the Company has determined that its derivative valuations in their entirety are classified within Level 2 of the fair value hierarchy. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered any applicable credit enhancements. The Company’s derivative instruments are further described in Note 10 to the consolidated financial statements. Nonrecurring Fair Value Measurements The following table presents the Company’s assets measured at fair value on a nonrecurring basis as of December 31, 2016 aggregated by the level within the fair value hierarchy in which those measurements fall. The table includes information related to properties remeasured to fair value during the year ended December 31, 2016 , except for those properties sold prior to December 31, 2016 . Methods and assumptions used to estimate the fair value of these assets are described after the table. Fair Value Level 1 Level 2 Level 3 Total Provision for Impairment (a) December 31, 2016 Investment properties $ — $ 500 (b) $ 10,600 (c) $ 11,100 $ 13,227 (a) Excludes impairment charges recorded on investment properties sold prior to December 31, 2016 . (b) Represents the fair value of the Company’s Rite Aid Store (Eckerd), Culver Rd. investment property. The estimated fair value of Rite Aid Store (Eckerd), Culver Rd. was based upon the expected sales price from a bona fide purchase offer and determined to be a Level 2 input. (c) Represents the fair values of the Company’s Crown Theater and Saucon Valley Square investment properties. The estimated fair values of Crown Theater and Saucon Valley Square of $4,000 and $6,600 , respectively, were determined using the income approach. The income approach involves discounting the estimated income stream and reversion (presumed sale) value of a property over an estimated holding period to a present value at a risk-adjusted rate. Discount rates, growth assumptions and terminal capitalization rates utilized in this approach are derived from property-specific information, market transactions and other financial and industry data. The terminal capitalization rate and discount rate are significant inputs to this valuation. The following were the key Level 3 inputs used in estimating the fair values of Crown Theater as of December 31, 2016 and Saucon Valley Square as of September 30, 2016, the date the assets were measured at fair value: 2016 Low High Rental growth rates Varies (i) Varies (i) Operating expense growth rates 3.10% 18.02% Discount rates 9.35% 10.00% Terminal capitalization rates 8.35% 9.50% (i) Since cash flow models are established at the tenant level, projected rental revenue growth rates fluctuate over the course of the estimated holding period based upon the timing of lease rollover, amount of available space and other property and space-specific factors. The Company did not have any assets measured at fair value on a nonrecurring basis as of December 31, 2015. Fair Value Disclosures The following table presents the Company’s financial liabilities, which are measured at fair value for disclosure purposes, by the level in the fair value hierarchy within which those measurements fall. Methods and assumptions used to estimate the fair value of these instruments are described after the table. Fair Value Level 1 Level 2 Level 3 Total December 31, 2016 Mortgages payable, net $ — $ — $ 833,210 $ 833,210 Unsecured notes payable, net $ 234,700 $ — $ 444,512 $ 679,212 Unsecured term loans, net $ — $ — $ 450,421 $ 450,421 Unsecured revolving line of credit $ — $ — $ 86,130 $ 86,130 December 31, 2015 Mortgages payable, net $ — $ — $ 1,213,620 $ 1,213,620 Unsecured notes payable, net $ 239,482 $ — $ 247,219 $ 486,701 Unsecured term loan, net $ — $ — $ 450,000 $ 450,000 Unsecured revolving line of credit $ — $ — $ 100,000 $ 100,000 Mortgages payable, net: The Company estimates the fair value of its mortgages payable by discounting the anticipated future cash flows of each instrument at rates currently offered to the Company by its lenders for similar debt instruments of comparable maturities. The rates used are not directly observable in the marketplace and judgment is used in determining the appropriate rate for each of the Company’s individual mortgages payable based upon the specific terms of the agreement, including the term to maturity, the quality and nature of the underlying property and its leverage ratio. The rates used range from 2.9% to 4.6% and 2.2% to 6.0% as of December 31, 2016 and 2015 , respectively. Unsecured notes payable, net: The quoted market price as of December 31, 2016 was used to value the Notes Due 2025. The Company estimates the fair value of its Notes Due 2021, 2024, 2026 and 2028 by discounting the future cash flows at rates currently offered to the Company by its lenders for similar debt instruments of comparable maturities. The rates used are not directly observable in the marketplace and judgment is used in determining the appropriate rates. The weighted average rates used were 4.48% and 4.64% as of December 31, 2016 and 2015 , respectively. Unsecured term loans, net: The Company estimates the fair value of its unsecured term loans, net by discounting the anticipated future cash flows related to the credit spreads at rates currently offered to the Company by its lenders for similar instruments of comparable maturities. The rates used are not directly observable in the marketplace and judgment is used in determining the appropriate rates. The weighted average rate used to discount the credit spreads was 1.30% as of December 31, 2016 and 2015 . Unsecured revolving line of credit: The Company estimates the fair value of its unsecured revolving line of credit by discounting the anticipated future cash flows related to the credit spreads at rates currently offered to the Company by its lenders for similar facilities of comparable maturity. The rates used are not directly observable in the marketplace and judgment is used in determining the appropriate rates. The rates used to discount the credit spreads were 1.30% and 1.35% as of December 31, 2016 and 2015 , respectively. There were no transfers between the levels of the fair value hierarchy during the years ended December 31, 2016 and 2015 .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES On December 1, 2014, the Company formed a wholly-owned captive insurance company, Birch Property and Casualty LLC (Birch), which insures the Company’s first layer of property and general liability insurance claims subject to certain limitations. The Company capitalized Birch in accordance with the applicable regulatory requirements and Birch established annual premiums based on projections derived from the past loss experience of the Company’s properties. As of December 31, 2016 , the Company had letter(s) of credit outstanding totaling $12,296 which serve as collateral for certain capital improvements and performance obligations on certain redevelopment projects, which will be satisfied upon completion of the projects, and reduced the available borrowings on its unsecured revolving line of credit. As of December 31, 2016 , the Company had active redevelopments at Reisterstown Road Plaza located in Baltimore, Maryland and Towson Circle located in Towson, Maryland. The Company estimates that it will incur net costs of approximately $12,000 to $13,000 related to the Reisterstown Road Plaza redevelopment and approximately $33,000 to $35,000 related to the Towson Circle redevelopment, of which $1,417 and $10,053 , respectively, has been incurred as of December 31, 2016 .

Litigation

Litigation	12 Months Ended
	Dec. 31, 2016
Loss Contingency, Information about Litigation Matters [Abstract]
Legal Matters and Contingencies	LITIGATION The Company is subject, from time to time, to various legal proceedings and claims that arise in the ordinary course of business. While the resolution of such matters cannot be predicted with certainty, management believes, based on currently available information, that the final outcome of such matters will not have a material effect on the consolidated financial statements of the Company.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Subsequent to December 31, 2016 , the Company: • defeased the IW JV portfolio of mortgages payable, which had an outstanding principal balance of $379,435 and an interest rate of 7.50% , and incurred a defeasance premium of $60,198 . See Note 7 to the consolidated financial statements for further details; • received funding in the amount of $200,000 on the Term Loan Due 2023. See Note 9 to the consolidated financial statements for further details; • entered into two agreements to swap a total of $200,000 of LIBOR-based variable rate debt to a fixed interest rate of 1.2628% through November 22, 2018; • closed on the acquisition of Main Street Promenade, a 181,600 square foot multi-tenant retail property located in Naperville, Illinois, for a gross purchase price of $88,000 through a consolidated VIE to facilitate a potential 1031 Exchange; • closed on the disposition of Rite Aid Store (Eckerd), Culver Rd., a 10,900 square foot single-user retail operating property located in Rochester, New York, for a sales price of $500 with no anticipated gain on sale or additional impairment due to previously recognized impairment charges; • granted 88 restricted shares at a grant date fair value of $15.34 per share and 253 RSUs at a grant date fair value of $15.52 per RSU to the Company’s executives in conjunction with its long-term equity compensation plan. The restricted shares will vest over three years and the RSUs granted are subject to a three -year performance period. Refer to Note 5 to the consolidated financial statements for additional details regarding the terms of the RSUs; • closed on a transaction whereby the Company received the fee interest in approximately 50 acres of land at Boulevard at the Capital Centre, an existing wholly-owned multi-tenant retail operating property located in Largo, Maryland. The property was previously subject to a ground lease with a third party for approximately 70 acres. In conjunction with this transaction, the Company paid consideration of $1,939 and agreed to shorten the term of the ground lease related to the remaining land; • declared the cash dividend for the first quarter of 2017 for its 7.00% Series A cumulative redeemable preferred stock. The dividend of $0.4375 per preferred share will be paid on March 31, 2017 to preferred shareholders of record at the close of business on March 20, 2017 ; and • declared the cash dividend for the first quarter of 2017 of $0.165625 per share on its outstanding Class A common stock, which will be paid on April 10, 2017 to Class A common shareholders of record at the close of business on March 27, 2017 .

Quarterly Financial Information

Quarterly Financial Information (unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (unaudited)	QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The following table sets forth selected quarterly financial data for the Company: 2016 Dec 31 Sep 30 Jun 30 Mar 31 Total revenues $ 142,752 $ 144,526 $ 147,226 $ 148,639 Net income $ 18,295 $ 72,494 $ 28,602 $ 47,426 Net income attributable to common shareholders $ 15,932 $ 70,132 $ 26,239 $ 45,064 Net income per common share attributable to common shareholders – basic and diluted $ 0.07 $ 0.30 $ 0.11 $ 0.19 Weighted average number of common shares outstanding – basic 236,528 236,783 236,716 236,578 Weighted average number of common shares outstanding – diluted 236,852 237,108 236,902 236,680 2015 Dec 31 Sep 30 Jun 30 Mar 31 Total revenues $ 148,920 $ 150,955 $ 150,888 $ 153,197 Net income $ 3,535 $ 78,329 $ 30,684 $ 13,076 Net income attributable to common shareholders $ 644 $ 75,967 $ 28,321 $ 10,714 Net income per common share attributable to common shareholders – basic and diluted $ — $ 0.32 $ 0.12 $ 0.05 Weighted average number of common shares outstanding – basic 236,477 236,439 236,354 236,250 Weighted average number of common shares outstanding – diluted 236,479 236,553 236,356 236,253

Schedule II Valuation and Quali

Schedule II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2016
Valuation and Qualifying Accounts [Abstract]
Schedule II Valuation and Qualifying Accounts	Schedule II Valuation and Qualifying Accounts For the Years Ended December 31, 2016 , 2015 and 2014 (in thousands) Balance at beginning of year Charged to costs and expenses Write-offs Balance at end of year Year ended December 31, 2016 Allowance for doubtful accounts $ 7,910 2,466 (3,490 ) $ 6,886 Tax valuation allowance $ 23,618 (2,443 ) — $ 21,175 Year ended December 31, 2015 Allowance for doubtful accounts $ 7,497 3,069 (2,656 ) $ 7,910 Tax valuation allowance $ 20,355 3,263 — $ 23,618 Year ended December 31, 2014 Allowance for doubtful accounts $ 8,197 2,689 (3,389 ) $ 7,497 Tax valuation allowance $ 18,631 1,724 — $ 20,355

Schedule III Real Estate and Ac

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III Real Estate and Accumulated Depreciation	Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired 23rd Street Plaza $ 2,823 $ 1,300 $ 5,319 $ 900 $ 1,300 $ 6,219 $ 7,519 $ 2,578 2003 12/04 Panama City, FL Ashland & Roosevelt 973 13,850 21,052 642 13,850 21,694 35,544 9,110 2002 05/05 Chicago, IL Avondale Plaza — 4,573 9,497 36 4,573 9,533 14,106 779 2005 11/14 Redmond, WA Azalea Square I 11,127 6,375 21,304 1,793 6,375 23,097 29,472 10,703 2004 10/04 Summerville, SC Azalea Square III — 3,280 10,348 90 3,280 10,438 13,718 3,529 2007 10/07 Summerville, SC Bed Bath & Beyond Plaza 8,355 10,350 18,367 692 10,350 19,059 29,409 8,561 2004 10/04 Miami, FL Bed Bath & Beyond Plaza — 4,530 11,901 313 4,530 12,214 16,744 4,979 2000-2002 07/05 Westbury, NY Boulevard at the Capital Centre — — 114,703 (28,975 ) — 85,728 85,728 28,916 2004 09/04 Largo, MD Boulevard Plaza 2,197 4,170 12,038 3,564 4,170 15,602 19,772 6,729 1994 04/05 Pawtucket, RI The Brickyard — 45,300 26,657 7,546 45,300 34,203 79,503 13,589 1977/2004 04/05 Chicago, IL Brown's Lane 4,585 2,600 12,005 1,254 2,600 13,259 15,859 5,632 1985 04/05 Middletown, RI Cedar Park Town Center — 23,923 13,829 368 23,923 14,197 38,120 1,254 2013 02/15 Cedar Park, TX Central Texas Marketplace — 13,000 47,559 8,757 13,000 56,316 69,316 19,721 2004 12/06 Waco, TX Centre at Laurel — 19,000 8,406 16,714 18,700 25,420 44,120 9,805 2005 02/06 Laurel, MD Chantilly Crossing — 8,500 16,060 2,347 8,500 18,407 26,907 7,633 2004 05/05 Chantilly, VA Cinemark Seven Bridges 4,585 3,450 11,728 15 3,450 11,743 15,193 4,824 2000 03/05 Woodridge, IL Clearlake Shores — 1,775 7,026 1,182 1,775 8,208 9,983 3,467 2003-2004 04/05 Clear Lake, TX RETAIL PROPERTIES OF AMERICA, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired Coal Creek Marketplace — 5,023 12,382 76 5,023 12,458 17,481 672 1991 08/15 Newcastle, WA Colony Square — 16,700 22,775 3,564 16,700 26,339 43,039 9,481 1997 05/06 Sugar Land, TX The Columns 11,479 5,830 19,439 415 5,830 19,854 25,684 8,858 2004 8/04 & Jackson, TN 10/04 The Commons at Temecula — 12,000 35,887 3,344 12,000 39,231 51,231 16,211 1999 04/05 Temecula, CA Coppell Town Center — 2,919 13,281 59 2,919 13,340 16,259 1,744 1999 10/13 Coppell, TX Coram Plaza 12,992 10,200 26,178 3,091 10,200 29,269 39,469 12,854 2004 12/04 Coram, NY Corwest Plaza 13,985 6,900 23,851 2 6,900 23,853 30,753 11,409 1999-2003 01/04 New Britain, CT Cottage Plaza 9,980 3,000 19,158 474 3,000 19,632 22,632 8,469 2004-2005 02/05 Pawtucket, RI Cranberry Square 10,239 3,000 18,736 1,398 3,000 20,134 23,134 9,061 1996-1997 07/04 Cranberry Township, PA Crown Theater — 7,318 954 (5,481 ) 2,707 84 2,791 — 2000 07/05 Hartford, CT Cuyahoga Falls Market Center 3,387 3,350 11,083 581 3,350 11,664 15,014 5,006 1998 04/05 Cuyahoga Falls, OH CVS Pharmacy — 750 1,958 — 750 1,958 2,708 831 1999 05/05 Lawton, OK Cypress Mill Plaza — 4,962 9,976 77 4,962 10,053 15,015 1,452 2004 10/13 Cypress, TX Davis Towne Crossing — 1,850 5,681 1,181 1,671 7,041 8,712 3,072 2003-2004 06/04 North Richland Hills, TX Denton Crossing 25,322 6,000 43,434 12,889 6,000 56,323 62,323 24,358 2003-2004 10/04 Denton, TX Dorman Center I & II 19,906 17,025 29,478 1,057 17,025 30,535 47,560 14,747 2003-2004 3/04 & 7/04 Spartanburg, SC Downtown Crown — 43,367 110,785 1,940 43,367 112,725 156,092 8,432 2014 01/15 Gaithersburg, MD RETAIL PROPERTIES OF AMERICA, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired East Stone Commons — 2,900 28,714 (727 ) 2,826 28,061 30,887 10,813 2005 06/06 Kingsport, TN Eastside — 4,055 17,620 27 4,055 17,647 21,702 455 2008 06/16 Richardson, TX Eastwood Towne Center — 12,000 65,067 4,574 12,000 69,641 81,641 31,168 2002 05/04 Lansing, MI Edgemont Town Center 6,040 3,500 10,956 449 3,500 11,405 14,905 5,067 2003 11/04 Homewood, AL Edwards Multiplex 8,830 — 35,421 — — 35,421 35,421 15,151 1988 05/05 Fresno, CA Edwards Multiplex 12,765 11,800 33,098 — 11,800 33,098 44,898 14,157 1997 05/05 Ontario, CA Evans Towne Centre 3,965 1,700 6,425 1,030 1,700 7,455 9,155 3,081 1995 12/04 Evans, GA Fairgrounds Plaza — 4,800 13,490 4,626 5,431 17,485 22,916 7,329 2002-2004 01/05 Middletown, NY Five Forks — 2,540 6,393 493 2,540 6,886 9,426 3,008 1999/2004- 12/04 & Simpsonville, SC 2005 3/05 Fordham Place — 17,209 96,547 (6 ) 17,209 96,541 113,750 11,057 Redev: 2009 11/13 Bronx, NY Forks Town Center 7,805 2,430 14,836 818 2,430 15,654 18,084 7,077 2002 07/04 Easton, PA Fort Evans Plaza II — 16,118 44,880 174 16,118 45,054 61,172 3,701 2008 01/15 Leesburg, VA Fox Creek Village 8,386 3,755 15,563 (913 ) 3,755 14,650 18,405 6,641 2003-2004 11/04 Longmont, CO Fullerton Metrocenter 26,078 — 47,403 3,087 — 50,490 50,490 22,646 1988 06/04 Fullerton, CA Galvez Shopping Center — 1,250 4,947 382 1,250 5,329 6,579 2,247 2004 06/05 Galveston, TX Gardiner Manor Mall 35,741 12,348 56,199 673 12,348 56,872 69,220 5,454 2000 06/14 Bay Shore, NY Gateway Pavilions 22,538 9,880 55,195 1,165 9,880 56,360 66,240 24,741 2003-2004 12/04 Avondale, AZ RETAIL PROPERTIES OF AMERICA, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired Gateway Plaza — — 26,371 5,803 — 32,174 32,174 13,593 2000 07/04 Southlake, TX Gateway Station — 1,050 3,911 1,043 1,050 4,954 6,004 2,169 2003-2004 12/04 College Station, TX Gateway Station II & III — 3,280 11,557 (7 ) 3,280 11,550 14,830 3,791 2006-2007 05/07 College Station, TX Gateway Village 34,766 8,550 39,298 5,397 8,550 44,695 53,245 19,745 1996 07/04 Annapolis, MD Gerry Centennial Plaza — 5,370 12,968 9,282 5,370 22,250 27,620 7,491 2006 06/07 Oswego, IL Governor's Marketplace — — 30,377 3,309 — 33,686 33,686 15,267 2001 08/04 Tallahassee, FL Grapevine Crossing — 4,100 16,938 241 3,894 17,385 21,279 7,382 2001 04/05 Grapevine, TX Green's Corner 4,937 3,200 8,663 741 3,200 9,404 12,604 3,952 1997 12/04 Cumming, GA Gurnee Town Center 14,050 7,000 35,147 4,646 7,000 39,793 46,793 17,484 2000 10/04 Gurnee, IL Henry Town Center — 10,650 46,814 6,971 10,650 53,785 64,435 22,097 2002 12/04 McDonough, GA Heritage Square — 6,377 11,385 1,441 6,377 12,826 19,203 1,266 1985 02/14 Issaquah, WA Heritage Towne Crossing — 3,065 10,729 1,533 3,065 12,262 15,327 5,720 2002 03/04 Euless, TX Hickory Ridge 17,939 6,860 33,323 613 6,860 33,936 40,796 15,155 1999 01/04 Hickory, NC High Ridge Crossing 4,585 3,075 9,148 (159 ) 3,075 8,989 12,064 3,897 2004 03/05 High Ridge, MO Holliday Towne Center 7,233 2,200 11,609 (333 ) 2,200 11,276 13,476 5,007 2003 02/05 Duncansville, PA Home Depot Center — — 16,758 — — 16,758 16,758 7,065 1996 06/05 Pittsburgh, PA Home Depot Plaza 10,689 9,700 17,137 1,738 9,700 18,875 28,575 7,805 1992 06/05 Orange, CT RETAIL PROPERTIES OF AMERICA, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired HQ Building — 5,200 10,010 4,211 5,200 14,221 19,421 5,858 Redev: 2004 12/05 San Antonio, TX Huebner Oaks Center — 18,087 64,731 217 18,087 64,948 83,035 6,139 1996 06/14 San Antonio, TX Humblewood Shopping Center — 2,200 12,823 1,392 2,200 14,215 16,415 5,406 Renov: 2005 11/05 Humble, TX Irmo Station 4,674 2,600 9,247 1,231 2,579 10,499 13,078 4,529 1980 & 1985 12/04 Irmo, SC Jefferson Commons — 23,097 52,762 2,001 23,097 54,763 77,860 17,720 2005 02/08 Newport News, VA John's Creek Village — 14,446 23,932 568 14,446 24,500 38,946 2,531 2004 06/14 John's Creek, GA King Philip's Crossing — 3,710 19,144 (150 ) 3,710 18,994 22,704 7,779 2005 11/05 Seekonk, MA La Plaza Del Norte — 16,005 37,744 4,007 16,005 41,751 57,756 19,057 1996/1999 01/04 San Antonio, TX Lake Mary Pointe 1,516 2,075 4,009 186 2,065 4,205 6,270 1,842 1999 10/04 Lake Mary, FL Lake Worth Towne Crossing — 6,600 30,910 9,124 6,600 40,034 46,634 13,839 2005 06/06 Lake Worth, TX Lakepointe Towne Center — 4,750 23,904 3,027 4,750 26,931 31,681 11,092 2004 05/05 Lewisville, TX Lakewood Towne Center — 12,555 74,612 (13,958 ) 12,555 60,654 73,209 27,077 1998/2002- 06/04 Lakewood, WA 2003 Lincoln Park 25,217 38,329 17,772 357 38,329 18,129 56,458 1,821 1997 06/14 Dallas, TX Lincoln Plaza — 13,000 46,482 22,906 13,110 69,278 82,388 27,534 2001-2004 09/05 Worcester, MA Low Country Village I & II — 2,910 16,614 (277 ) 2,486 16,761 19,247 7,536 2004 & 2005 06/04 & Bluffton, SC 09/05 Lowe's/Bed, Bath & Beyond — 7,423 799 (8 ) 7,415 799 8,214 604 2005 08/05 Butler, NJ MacArthur Crossing — 4,710 16,265 2,242 4,710 18,507 23,217 8,609 1995-1996 02/04 Los Colinas, TX RETAIL PROPERTIES OF AMERICA, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired Magnolia Square 5,905 2,635 15,040 (654 ) 2,635 14,386 17,021 6,245 2004 02/05 Houma, LA Manchester Meadows — 14,700 39,738 6,048 14,700 45,786 60,486 18,780 1994-1995 08/04 Town and Country, MO Mansfield Towne Crossing — 3,300 12,195 3,625 3,300 15,820 19,120 7,013 2003-2004 11/04 Mansfield, TX Merrifield Town Center — 18,678 36,496 497 18,678 36,993 55,671 2,716 2008 01/15 Falls Church, VA Merrifield Town Center II — 28,797 14,698 22 28,797 14,720 43,517 533 1972 Renov: 01/16 Falls Church, VA 2006-2007 New Forest Crossing — 4,390 11,313 66 4,390 11,379 15,769 1,550 2003 10/13 Houston, TX Newnan Crossing I & II — 15,100 33,987 6,579 15,100 40,566 55,666 18,063 1999 & 12/03 & Newnan, GA 2004 02/04 Newton Crossroads 3,478 3,350 6,927 541 3,350 7,468 10,818 3,110 1997 12/04 Covington, GA North Rivers Towne Center 9,360 3,350 15,720 570 3,350 16,290 19,640 7,444 2003-2004 04/04 Charleston, SC Northgate North 26,186 7,540 49,078 (14,262 ) 7,540 34,816 42,356 16,401 1999-2003 06/04 Seattle, WA Northpointe Plaza 21,651 13,800 37,707 4,463 13,800 42,170 55,970 19,119 1991-1993 05/04 Spokane, WA Northwood Crossing — 3,770 13,658 1,210 3,770 14,868 18,638 5,966 1979/2004 01/06 Northport, AL Northwoods Center 7,914 3,415 9,475 6,668 3,415 16,143 19,558 7,007 2002-2004 12/04 Wesley Chapel, FL Oak Brook Promenade — 10,343 50,057 1,245 10,343 51,302 61,645 1,611 2006 03/16 Oak Brook, IL One Loudoun Downtown — 22,113 91,138 1 22,113 91,139 113,252 322 2013-2016 11/16 Ashburn, VA Orange Plaza (Golfland Plaza) — 4,350 4,834 2,366 4,350 7,200 11,550 2,879 1995 05/05 Orange, CT The Orchard — 3,200 17,151 250 3,200 17,401 20,601 7,170 2004-2005 07/05 & New Hartford, NY 9/05 RETAIL PROPERTIES OF AMERICA, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired Oswego Commons — 6,454 16,004 465 6,454 16,469 22,923 1,931 2002-2004 06/14 Oswego, IL Page Field Commons — — 43,355 1,156 — 44,511 44,511 18,522 1999 05/05 Fort Myers, FL Paradise Valley Marketplace 8,565 6,590 20,425 756 6,590 21,181 27,771 9,931 2002 04/04 Phoenix, AZ Parkway Towne Crossing — 6,142 20,423 8,740 6,142 29,163 35,305 11,011 2010 08/06 Frisco, TX Pavilion at Kings Grant I & II — 10,274 12,392 12,243 10,274 24,635 34,909 9,357 2002-2003 12/03 & Concord, NC & 2005 06/06 Pelham Manor Shopping Plaza — — 67,870 62 — 67,932 67,932 8,615 2008 11/13 Pelham Manor, NY Peoria Crossings I & II 24,082 6,995 32,816 3,909 8,495 35,225 43,720 16,227 2002-2003 03/04 & Peoria, AZ & 2005 05/05 Phenix Crossing 3,875 2,600 6,776 343 2,600 7,119 9,719 3,165 2004 12/04 Phenix City, AL Placentia Town Center 10,334 11,200 11,751 2,413 11,200 14,164 25,364 5,921 1973/2000 12/04 Placentia, CA Plaza at Marysville 8,565 6,600 13,728 866 6,600 14,594 21,194 6,520 1995 07/04 Marysville, WA Plaza Santa Fe II — — 28,588 3,389 — 31,977 31,977 14,870 2000-2002 06/04 Santa Fe, NM Pleasant Run 12,773 4,200 29,085 7,091 4,200 36,176 40,376 14,212 2004 12/04 Cedar Hill, TX Quakertown — 2,400 9,246 43 2,400 9,289 11,689 3,853 2004-2005 09/05 Quakertown, PA Red Bug Village — 1,790 6,178 336 1,790 6,514 8,304 2,722 2004 12/05 Winter Springs, FL Reisterstown Road Plaza (a) 46,182 15,800 70,372 6,420 15,791 76,801 92,592 33,874 1986/2004 08/04 Baltimore, MD Rite Aid Store (Eckerd) 1,535 900 2,377 — 900 2,377 3,277 1,126 2003-2004 06/04 Columbia, SC Rite Aid Store (Eckerd) 1,224 600 2,033 1 600 2,034 2,634 938 2003-2004 06/04 Crossville, TN RETAIL PROPERTIES OF AMERICA, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired Rite Aid Store (Eckerd) 1,473 1,050 2,047 1 1,050 2,048 3,098 944 2003-2004 06/04 Greer, SC Rite Aid Store (Eckerd) 1,753 700 2,960 1 700 2,961 3,661 1,366 2003-2004 06/04 Kill Devil Hills, NC Rite Aid Store (Eckerd), Culver Rd. — 1,590 2,279 (3,380 ) 265 224 489 — 2001 11/05 Rochester, NY Rivery Town Crossing — 2,900 6,814 384 2,900 7,198 10,098 2,762 2005 10/06 Georgetown, TX Royal Oaks Village II — 3,450 17,000 272 3,450 17,272 20,722 5,039 2004-2005 11/05 Houston, TX Saucon Valley Square 7,941 3,200 12,642 (9,645 ) 1,818 4,379 6,197 87 1999 09/04 Bethlehem, PA Sawyer Heights Village 18,824 24,214 15,797 705 24,214 16,502 40,716 2,165 2007 10/13 Houston, TX Schaumburg Towers — 7,900 137,096 405 7,900 137,501 145,401 58,553 1986 & 1990 11/04 Schaumburg, IL Shoppes at Hagerstown — 4,034 21,937 131 4,034 22,068 26,102 987 2008 01/16 Hagerstown, MD Shoppes at Park West 4,940 2,240 9,357 78 2,240 9,435 11,675 4,201 2004 11/04 Mt. Pleasant, SC The Shoppes at Quarterfield — 2,190 8,840 193 2,190 9,033 11,223 4,232 1999 01/04 Severn, MD The Shoppes at Union Hill 14,757 12,666 45,227 38 12,666 45,265 57,931 1,482 2003 04/16 Denville, NJ Shoppes of New Hope 3,362 1,350 11,045 20 1,350 11,065 12,415 5,060 2004 07/04 Dallas, GA Shoppes of Prominence Point I & II — 3,650 12,652 203 3,650 12,855 16,505 5,901 2004 & 2005 06/04 & Canton, GA 09/05 Shops at Forest Commons — 1,050 6,133 294 1,050 6,427 7,477 2,807 2002 12/04 Round Rock, TX The Shops at Legacy — 8,800 108,940 15,243 8,800 124,183 132,983 43,545 2002 06/07 Plano, TX Shops at Park Place 7,503 9,096 13,175 1,082 9,096 14,257 23,353 6,969 2001 10/03 Plano, TX RETAIL PROPERTIES OF AMERICA, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired Southlake Corners 21,090 6,612 23,605 82 6,612 23,687 30,299 3,009 2004 10/13 Southlake, TX Southlake Town Square I - VII — 43,790 201,028 23,258 41,603 226,473 268,076 84,812 1998-2007 12/04, 5/07, Southlake, TX 9/08 & 3/09 Stilesboro Oaks 4,725 2,200 9,426 473 2,200 9,899 12,099 4,216 1997 12/04 Acworth, GA Stonebridge Plaza — 1,000 5,783 427 1,000 6,210 7,210 2,593 1997 08/05 McKinney, TX Stony Creek I 7,947 6,735 17,564 1,739 6,735 19,303 26,038 9,234 2003 12/03 Noblesville, IN Stony Creek II — 1,900 5,106 79 1,900 5,185 7,085 2,112 2005 11/05 Noblesville, IN Streets of Yorktown — 3,440 22,111 2,893 3,440 25,004 28,444 10,017 2005 12/05 Houston, TX Tacoma South — 10,976 22,898 5 10,976 22,903 33,879 617 1984-2015 05/16 Tacoma, WA Target South Center — 2,300 8,760 727 2,300 9,487 11,787 3,951 1999 11/05 Austin, TX Tollgate Marketplace 34,933 8,700 61,247 7,081 8,700 68,328 77,028 29,407 1979/1994 07/04 Bel Air, MD Town Square Plaza 16,760 9,700 18,264 1,668 9,700 19,932 29,632 8,009 2004 12/05 Pottstown, PA Towson Circle (a) — 9,050 17,840 (26,835 ) — 55 55 — 1998 07/04 Towson, MD Towson Square — 13,757 21,958 (174 ) 13,757 21,784 35,541 959 2014 11/15 Towson, MD Tysons Corner — 22,525 7,184 15 22,525 7,199 29,724 426 1980 05/15 Vienna, VA Renov:2004, University Town Center 4,140 — 9,557 337 — 9,894 9,894 4,337 2002 11/04 Tuscaloosa, AL Village Shoppes at Gainesville 19,325 4,450 36,592 1,975 4,450 38,567 43,017 15,727 2004 09/05 Gainesville, GA Village Shoppes at Simonton 3,102 2,200 10,874 24 2,200 10,898 13,098 4,953 2004 08/04 Lawrenceville, GA RETAIL PROPERTIES OF AMERICA, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost (A) Gross amount carried at end of period Property Name Encumbrance Land Buildings and Improvements Adjustments to Basis (C) Land and Improvements Buildings and Improvements (D) Total (B), (D) Accumulated Depreciation (E) Date Constructed Date Acquired Walter's Crossing — 14,500 16,914 544 14,500 17,458 31,958 6,837 2005 07/06 Tampa, FL Watauga Pavilion — 5,185 27,504 986 5,185 28,490 33,675 12,913 2003-2004 05/04 Watauga, TX West Town Market — 1,170 10,488 193 1,170 10,681 11,851 4,517 2004 06/05 Fort Mill, SC Wilton Square — 8,200 35,538 371 8,200 35,909 44,109 14,949 2000 07/05 Saratoga Springs, NY Winchester Commons 5,291 4,400 7,471 571 4,400 8,042 12,442 3,418 1999 11/04 Memphis, TN Woodinville Plaza — 16,073 25,433 896 16,073 26,329 42,402 1,378 1981 06/15 & Woodinville, WA 8/16 Total Operating Properties 769,184 1,208,948 4,039,199 227,920 1,191,403 4,284,664 5,476,067 1,443,333 Developments in Progress — 15,541 7,898 — 15,541 7,898 23,439 — Total Investment Properties $ 769,184 $ 1,224,489 $ 4,047,097 $ 227,920 $ 1,206,944 $ 4,292,562 $ 5,499,506 $ 1,443,333 (a) The cost basis associated with this property or a portion of this property was reclassified to Developments in Progress. RETAIL PROPERTIES OF AMERICA, INC. Notes: (A) The initial cost to the Company represents the original purchase price of the property, including amounts incurred subsequent to acquisition which were contemplated at the time the property was acquired. (B) The aggregate cost of real estate owned as of December 31, 2016 for U.S. federal income tax purposes was approximately $5,524,479 . (C) Adjustments to basis include payments received under master lease agreements as well as additional tangible costs associated with the investment properties, including any earnout of tenant space. (D) Reconciliation of real estate owned: 2016 2015 2014 Balance as of January 1, $ 5,687,842 $ 5,680,376 $ 5,804,518 Purchase of investment property 435,989 508,924 397,993 Sale of investment property (526,970 ) (498,833 ) (338,938 ) Property held for sale (47,151 ) — (36,914 ) Provision for asset impairment (47,159 ) (4,786 ) (159,447 ) Acquired lease intangible assets 4,586 (15,311 ) 5,579 Acquired lease intangible liabilities (7,631 ) 17,472 7,585 Balance as of December 31, $ 5,499,506 $ 5,687,842 $ 5,680,376 (E) Reconciliation of accumulated depreciation: 2016 2015 2014 Balance as of January 1, $ 1,433,195 $ 1,365,471 $ 1,330,474 Depreciation expense 191,493 183,639 183,142 Sale of investment property (118,925 ) (111,346 ) (63,460 ) Property held for sale (15,769 ) — (5,358 ) Provision for asset impairment (18,500 ) (2,497 ) (77,390 ) Write-offs due to early lease termination (3,947 ) (2,072 ) (1,937 ) Other disposals (24,214 ) — — Balance as of December 31, $ 1,443,333 $ 1,433,195 $ 1,365,471 Depreciation is computed based upon the following estimated useful lives in the accompanying consolidated statements of operations and other comprehensive income: Years Building and improvements 30 Site improvements 15 Tenant improvements Life of related lease

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Investment Properties	Investment Properties: Investment properties are recorded at cost less accumulated depreciation. Ordinary repairs and maintenance are expensed as incurred. Expenditures for significant improvements, including internal salaries and related benefits of personnel directly involved in the improvements, are capitalized. The Company allocates the purchase price of each acquired investment property accounted for as a business combination based upon the estimated acquisition date fair value of the individual assets acquired and liabilities assumed, which generally include (i) land, (ii) building and other improvements, (iii) in-place lease value intangibles, (iv) acquired above and below market lease intangibles, (v) any assumed financing that is determined to be above or below market, (vi) the value of customer relationships and (vii) goodwill, if any. Transaction costs related to acquisitions accounted for as business combinations are expensed as incurred and included within “General and administrative expenses” in the accompanying consolidated statements of operations and other comprehensive income. The Company elected to early adopt ASU 2017-01, Business Combinations , on a prospective basis as of October 1, 2016. This new guidance clarifies the definition of a business and provides a screen to determine when an integrated set of assets and activities is not considered a business and, thus, accounted for as an asset acquisition as opposed to a business combination. Refer to the “Recently Adopted Accounting Pronouncements” section within Note 2 to the consolidated financial statements. Under this new guidance, the Company expects most acquisitions of investment property will meet this screen and, thus, be accounted for as asset acquisitions. The Company allocates the purchase price of each acquired investment property that is accounted for as an asset acquisition based upon the relative fair value of the individual assets acquired and liabilities assumed, which generally include (i) land, (ii) building and other improvements, (iii) in-place lease value intangibles, (iv) acquired above and below market lease intangibles, (v) any assumed financing that is determined to be above or below market and (vi) the value of customer relationships. Asset acquisitions do not give rise to goodwill and the related transaction costs are capitalized and included with the allocated purchase price. For tangible assets acquired, including land, building and other improvements, the Company considers available comparable market and industry information in estimating acquisition date fair value. The Company allocates a portion of the purchase price to the estimated acquired in-place lease value intangibles based on estimated lease execution costs for similar leases as well as lost rental payments during an assumed lease-up period. The Company also evaluates each acquired lease as compared to current market rates. If an acquired lease is determined to be above or below market, the Company allocates a portion of the purchase price to such above or below market leases based upon the present value of the difference between the contractual lease payments and estimated market rent payments over the remaining lease term. Renewal periods are included within the lease term in the calculation of above and below market lease values if, based upon factors known at the acquisition date, market participants would consider it reasonably assured that the lessee would exercise such options. Fair value estimates used in acquisition accounting, including the discount rate used, require the Company to consider various factors, including, but not limited to, market knowledge, demographics, age and physical condition of the property, geographic location, size and location of tenant spaces within the acquired investment property and tenant profile. For acquisitions accounted for as business combinations, if, up to one year from the acquisition date, information regarding fair value of the assets acquired and liabilities assumed is received and estimates are refined, appropriate adjustments are made to the purchase price allocation on a prospective basis. The portion of the purchase price allocated to acquired in-place lease value intangibles is amortized on a straight-line basis over the life of the related lease as a component of depreciation and amortization expense. The Company incurred amortization expense pertaining to acquired in-place lease value intangibles of $27,443 , $25,913 and $28,977 for the years ended December 31, 2016 , 2015 and 2014 , respectively. With respect to acquired leases in which the Company is the lessor, the portion of the purchase price allocated to acquired above and below market lease intangibles is amortized on a straight-line basis over the life of the related lease as an adjustment to rental income. Amortization pertaining to above market lease intangibles of $4,406 , $4,807 and $4,170 for the years ended December 31, 2016 , 2015 and 2014 , respectively, was recorded as a reduction to rental income. Amortization pertaining to below market lease intangibles of $7,396 , $8,428 and $6,246 for the years ended December 31, 2016 , 2015 and 2014 , respectively, was recorded as an increase to rental income. With respect to acquired leases in which the Company is the lessee, the portion of the purchase price allocated to acquired above and below market ground lease intangibles is amortized on a straight-line basis over the life of the related lease as an adjustment to property operating expenses. Amortization pertaining to above market ground lease intangibles of $560 , $560 and $560 for the years ended December 31, 2016 , 2015 and 2014 , respectively, was recorded as a reduction to property operating expenses. The following table presents the amortization during the next five years and thereafter related to the acquired lease intangible assets and liabilities for properties owned as of December 31, 2016 : 2017 2018 2019 2020 2021 Thereafter Total Amortization of: Acquired above market lease intangibles (a) $ 4,474 $ 3,850 $ 2,527 $ 1,890 $ 1,373 $ 5,368 $ 19,482 Acquired in-place lease value intangibles (a) 22,627 17,509 12,473 10,324 9,022 50,578 122,533 Acquired lease intangible assets, net (b) $ 27,101 $ 21,359 $ 15,000 $ 12,214 $ 10,395 $ 55,946 $ 142,015 Acquired below market lease intangibles (a) $ (6,124 ) $ (5,849 ) $ (5,545 ) $ (5,369 ) $ (5,177 ) $ (64,208 ) $ (92,272 ) Acquired ground lease intangibles (c) (560 ) (560 ) (560 ) (560 ) (560 ) (10,218 ) (13,018 ) Acquired lease intangible liabilities, net (b) $ (6,684 ) $ (6,409 ) $ (6,105 ) $ (5,929 ) $ (5,737 ) $ (74,426 ) $ (105,290 ) (a) Represents the portion of the purchase price with respect to acquired leases in which the Company is the lessor. The amortization of acquired above and below market lease intangibles is recorded as an adjustment to rental income and the amortization of acquired in-place lease value intangibles is recorded to depreciation and amortization expense. (b) Acquired lease intangible assets, net and acquired lease intangible liabilities, net are presented net of $296,309 and $50,672 of accumulated amortization, respectively, as of December 31, 2016 . (c) Represents the portion of the purchase price with respect to acquired leases in which the Company is the lessee. The amortization is recorded as an adjustment to property operating expenses. Depreciation expense is computed using the straight-line method. Building and other improvements are depreciated based upon estimated useful lives of 30 years for building and associated improvements and 15 years for site improvements and most other capital improvements. Tenant improvements and leasing fees, including capitalized internal leasing incentives, are amortized on a straight-line basis over the life of the related lease as a component of depreciation and amortization expense. The Company capitalized $423 , $474 and $0 of internal leasing incentives, all of which were incremental to signed leases, during the years ended December 31, 2016 , 2015 and 2014 , respectively.
Impairment of Long-Lived Assets and Unconsolidated Joint Ventures	Impairment of Long-Lived Assets and Unconsolidated Joint Ventures: The Company’s investment properties, including developments in progress, are reviewed for potential impairment at the end of each reporting period or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. At the end of each reporting period, the Company separately determines whether impairment indicators exist for each property. Examples of situations considered to be impairment indicators for both operating properties and developments in progress include, but are not limited to: • a substantial decline in or continued low occupancy rate or cash flow; • expected significant declines in occupancy in the near future; • continued difficulty in leasing space; • a significant concentration of financially troubled tenants; • a change in anticipated holding period; • a cost accumulation or delay in project completion date significantly above and beyond the original development or redevelopment estimate; • a significant decrease in market price not in line with general market trends; and • any other quantitative or qualitative events or factors deemed significant by the Company’s management or board of directors. If the presence of one or more impairment indicators as described above is identified at the end of a reporting period or at any point throughout the year with respect to a property, the asset is tested for recoverability by comparing its carrying value to the estimated future undiscounted cash flows. An investment property is considered to be impaired when the estimated future undiscounted cash flows are less than its current carrying value. When performing a test for recoverability or estimating the fair value of an impaired investment property, the Company makes certain complex or subjective assumptions which include, but are not limited to: • projected operating cash flows considering factors such as vacancy rates, rental rates, lease terms, tenant financial strength, competitive positioning and property location; • estimated holding period or various potential holding periods when considering probability-weighted scenarios; • projected capital expenditures and lease origination costs; • estimated interest and internal costs expected to be capitalized, dates of construction completion and grand opening dates for developments in progress; • projected cash flows from the eventual disposition of an operating property or development in progress using a property-specific capitalization rate; • comparable selling prices; and • a property-specific discount rate. The Company did not have any unconsolidated joint ventures as of December 31, 2016 and 2015 . When the Company does hold investments in unconsolidated joint ventures, they are reviewed for potential impairment, in addition to impairment evaluations of the individual assets underlying these investments, each reporting period or whenever events or changes in circumstances warrant such an evaluation. To determine whether any identified impairment is other-than-temporary, the Company considers whether it has the ability and intent to hold the investment until the carrying value is fully recovered. To the extent impairment has occurred, the Company will record an impairment charge calculated as the excess of the carrying value of the asset over its estimated fair value. Below is a summary of impairment charges recorded during the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 2015 2014 Impairment of consolidated properties (a) $ 20,376 $ 19,937 $ 72,203 (a) Included in “Provision for impairment of investment properties” in the accompanying consolidated statements of operations and other comprehensive income. The Company’s assessment of impairment as of December 31, 2016 was based on the most current information available to the Company. If the operating conditions mentioned above deteriorate or if the Company’s expected holding period for assets change, subsequent tests for impairment could result in additional impairment charges in the future. The Company can provide no assurance that material impairment charges with respect to the Company’s investment properties will not occur in 2017 or future periods. Based upon current market conditions, certain of the Company’s properties may have fair values less than their carrying amounts. However, based on the Company’s plans with respect to those properties, the Company believes that their carrying amounts are recoverable and therefore, under applicable GAAP guidance, no additional impairment charges were recorded. Accordingly, the Company will continue to monitor circumstances and events in future periods to determine whether additional impairment charges are warranted. Refer to Note 15 to the consolidated financial statements for further discussion.
Development and Redevelopment Projects	Development and Redevelopment Projects : Development and redevelopment projects are classified as developments in progress on the accompanying consolidated balance sheets and include (i) land held for future development, (ii) ground-up developments and (iii) redevelopment properties undergoing significant renovations and improvements. During the development or redevelopment period, the Company capitalizes direct project costs such as construction, insurance, architectural and legal, as well as certain indirect project costs such as interest, other financing costs, real estate taxes and internal salaries and related benefits of personnel directly involved in the project. Capitalization of the indirect project costs ceases and all project-related costs included in developments in progress are reclassified to land and building and other improvements at the time when development or redevelopment is considered substantially complete. Additionally, the Company makes estimates as to the probability of completion of development and redevelopment projects. If the Company determines that completion of the development or redevelopment project is no longer probable, the Company expenses any capitalized costs that are not recoverable. The Company capitalized $302 of indirect project costs related to development and redevelopment projects and $1,152 related to expansions, pad developments and other significant improvements during the year ended December 31, 2016 . The Company did not capitalize any indirect project costs during the years ended December 31, 2015 and 2014.
Investment Properties Held For Sale	Investment Properties Held for Sale : In determining whether to classify an investment property as held for sale, the Company considers whether: (i) management has committed to a plan to sell the investment property; (ii) the investment property is available for immediate sale in its present condition, subject only to terms that are usual and customary; (iii) the Company has initiated a program to locate a buyer; (iv) the Company believes that the sale of the investment property is probable; (v) the Company is actively marketing the investment property for sale at a price that is reasonable in relation to its current value, and (vi) actions required for the Company to complete the plan indicate that it is unlikely that any significant changes will be made. If all of the above criteria are met, the Company classifies the investment property as held for sale. When these criteria are met, the Company suspends depreciation (including depreciation for tenant improvements and building improvements) and amortization of acquired in-place lease value intangibles and any above or below market lease intangibles and the Company records the investment property held for sale at the lower of cost or net realizable value. The assets and liabilities associated with those investment properties that are classified as held for sale are presented separately on the consolidated balance sheets for the most recent reporting period. Two properties were classified as held for sale as of December 31, 2016 and no properties qualified for held for sale accounting treatment as of December 31, 2015 . Prior to the Company’s early adoption of the revised discontinued operations pronouncement in 2014, if the operations and cash flow of the property had been, or were upon consummation of such sale, eliminated from ongoing operations and the Company did not have significant continuing involvement in the operations of the property, then the operations for the periods presented were classified in the consolidated statements of operations and other comprehensive income as discontinued operations for all periods presented. However, the Company elected to early adopt the revised discontinued operations pronouncement effective January 1, 2014, which limits what qualifies for discontinued operations presentation. As a result, the investment properties that were sold or classified as held for sale during 2016, 2015 and 2014, except for Riverpark Phase IIA, which was classified as held for sale as of December 31, 2013 and, therefore, qualified for discontinued operations treatment under the previous standard, did not qualify for discontinued operations presentation and, as such, are reflected in continuing operations on the consolidated statements of operations and other comprehensive income.
Partially-Owned Entities	Partially-Owned Entities : The Company consolidates partially-owned entities if they are VIEs in accordance with the Consolidation Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) and the Company is considered the primary beneficiary, the Company has voting control, the limited partners (or non-managing members) do not have substantive participatory rights, or other conditions exist that indicate that the Company has control. Management uses its judgment when determining if the Company is the primary beneficiary of, or has a controlling financial interest in, an entity in which it has a variable interest, to determine whether the Company has the power to direct the activities that most significantly impact the entity’s economic performance and if it has significant economic exposure to the risk and rewards of ownership. The Company assesses its interests in VIEs on an ongoing basis to determine if the entity should be consolidated.
Cash and Cash Equivalents	Cash and Cash Equivalents : The Company considers all demand deposits, money market accounts and investments in certificates of deposit and repurchase agreements purchased with a maturity of three months or less at the date of purchase to be cash equivalents. The Company maintains its cash and cash equivalents at major financial institutions. The cash and cash equivalents balance at one or more of these financial institutions exceeds the Federal Depository Insurance Corporation (FDIC) insurance coverage. The Company periodically assesses the credit risk associated with these financial institutions and believes that the risk of loss is minimal.
Restricted Cash and Escrows	Restricted Cash and Escrows : Restricted cash and escrows consist of lenders’ escrows and funds restricted through lender or other agreements, including funds held in escrow for future acquisitions, and are included as a component of “Other assets, net” in the accompanying consolidated balance sheets. As of December 31, 2016 and 2015 , the Company had $29,230 and $35,804 , respectively, in restricted cash and escrows.
Derivative and Hedging Activities	Derivative and Hedging Activities: Derivatives are recorded in the accompanying consolidated balance sheets at fair value within “Other assets, net” and “Other liabilities”. The Company uses interest rate derivatives to manage differences in the amount, timing and duration of the Company’s known or expected cash payments principally related to certain of its borrowings. The Company does not use derivatives for trading or speculative purposes. On the date the Company enters into a derivative, it may designate the derivative as a hedge against the variability of cash flows that are to be paid in connection with a recognized liability. Subsequent changes in the fair value of a derivative that is designated and qualifies as a cash flow hedge that is determined to be highly effective are recorded in “Accumulated other comprehensive income (loss)” and are reclassified to interest expense as interest payments are made on the Company’s variable rate debt. As of December 31, 2016 , the balance in accumulated other comprehensive income (loss) relating to derivatives was $722 . Any hedge ineffectiveness or changes in the fair value for any derivative not designated as a hedge is reported in “Other income, net” in the accompanying consolidated statements of operations and other comprehensive income.
Conditional Asset Retirement Obligations	Conditional Asset Retirement Obligations: The Company evaluates the potential impact of conditional asset retirement obligations on its consolidated financial statements. The term conditional asset retirement obligation refers to a legal obligation to perform an asset retirement activity in which the timing and/or method of settlement are conditional on a future event that may or may not be within the control of the entity. Thus, the timing and/or method of settlement may be conditional on a future event. Based upon the Company’s evaluation, no accrual of a liability for asset retirement obligations was warranted as of December 31, 2016 and 2015 .
Revenue Recognition	Revenue Recognition: The Company commences revenue recognition on its leases based on a number of factors. In most cases, revenue recognition under a lease begins when the lessee takes possession of or controls the physical use of the leased asset. Generally, this occurs on the lease commencement date. The determination of who is the owner, for accounting purposes, of the tenant improvements determines the nature of the leased asset and when revenue recognition under a lease begins. If the Company is the owner, for accounting purposes, of the tenant improvements, then the leased asset is the finished space and revenue recognition begins when the lessee takes possession of the finished space, typically when the improvements are substantially complete. If the Company concludes that the lessee is the owner, for accounting purposes, of the tenant improvements, then the leased asset is the unimproved space and any tenant improvement allowances funded under the lease are accounted for as lease inducements which are amortized as a reduction to the revenue recognized over the term of the lease. In these circumstances, the Company commences revenue recognition when the lessee takes possession of the unimproved space for the lessee to construct their own improvements. The Company considers a number of factors to evaluate whether it or the lessee is the owner of the tenant improvements for accounting purposes. These factors include: • whether the lease stipulates how and on what a tenant improvement allowance may be spent; • whether the tenant or the Company retains legal title to the improvements; • the uniqueness of the improvements; • the expected economic life of the tenant improvements relative to the length of the lease; • who constructs or directs the construction of the improvements, and • whether the tenant or the Company is obligated to fund cost overruns. The determination of who owns the tenant improvements, for accounting purposes, is subject to significant judgment. In making that determination, the Company considers all of the above factors. No one factor, however, necessarily establishes its determination. Rental income, for only those leases that have fixed and measurable rent escalations, is recognized on a straight-line basis over the term of each lease. The difference between such rental income earned and the cash rent due under the provisions of a lease is recorded as deferred rent receivable and is included as a component of “Accounts and notes receivable” in the accompanying consolidated balance sheets. Reimbursements from tenants for recoverable real estate taxes and operating expenses are accrued as revenue in the period the applicable expenditures are incurred. The Company makes certain assumptions and judgments in estimating the reimbursements at the end of each reporting period. The Company records lease termination income as “Other property income” when (i) a termination letter agreement is signed, (ii) all of the conditions of such agreement have been fulfilled, (iii) the tenant is no longer occupying the property and (iv) collectibility is reasonably assured. Upon early lease termination, the Company provides for losses related to recognized tenant specific intangibles and other assets or adjusts the remaining useful life of the assets if determined to be appropriate. The Company recorded lease termination income of $3,339 , $3,757 and $2,667 for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company recorded contingent percentage rental income and percentage rental income in lieu of base rent of $4,082 , $4,693 and $5,229 for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company’s policy is to defer recognition of contingent rental income until the specified target (i.e. breakpoint) that triggers the contingent rental income is achieved. Profits from sales of real estate are not recognized under the full accrual method until the following criteria are met: a sale is consummated; the buyer’s initial and continuing investments are adequate to demonstrate a commitment to pay for the property; the Company’s receivable, if applicable, is not subject to future subordination; the Company has transferred to the buyer the usual risks and rewards of ownership; and the Company does not have substantial continuing involvement with the property. The Company sold 46 , 26 and 24 consolidated investment properties during the years ended December 31, 2016 , 2015 and 2014 , respectively. Refer to Note 4 to the consolidated financial statements for further discussion.
Accounts and Notes Receivable and Allowance for Doubtful Accounts	Accounts and Notes Receivable and Allowance for Doubtful Accounts : Accounts and notes receivable balances outstanding include base rents, tenant reimbursements and deferred rent receivables. An allowance for the uncollectible portion of accounts and notes receivable is determined on a tenant-specific basis through an analysis of balances outstanding, historical bad debt levels, tenant creditworthiness and current economic trends. Additionally, estimates of the expected recovery of pre-petition and post-petition claims with respect to tenants in bankruptcy are considered in assessing the collectibility of the related receivables. Management’s estimate of the collectibility of accounts and notes receivable is based on the best information available to management at the time of evaluation.
Rental Expense	Rental Expense : Rental expense associated with land and office space that the Company leases under non-cancellable operating leases, for only those leases that have fixed and measurable rent escalations, is recorded on a straight-line basis over the term of each lease. The difference between rental expense incurred on a straight-line basis and rental payments due under the provisions of a lease agreement is recorded as a deferred liability and is included as a component of “Other liabilities” in the accompanying consolidated balance sheets. See Note 6 to the consolidated financial statements for additional information pertaining to these leases.
Loan Fees	Loan Fees: Loan fees are generally amortized using the effective interest method (or other methods which approximate the effective interest method) over the life of the related loan as a component of interest expense. Debt prepayment penalties and certain fees associated with exchanges or modifications of debt are expensed as incurred as a component of interest expense. The Company presents unamortized capitalized loan fees, excluding those related to its unsecured revolving line of credit, as direct reductions of the carrying amounts of the related debt liabilities in the accompanying consolidated balance sheets. Unamortized capitalized loan fees attributable to the Company’s unsecured revolving line of credit are recorded in “Other assets, net” in the accompanying consolidated balance sheets.
Income Taxes	Income Taxes: The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Code. As a REIT, the Company generally will not be subject to U.S. federal income tax on the taxable income the Company currently distributes to its shareholders. The Company records a benefit, based on the GAAP measurement criteria, for uncertain income tax positions if the result of a tax position meets a “more likely than not” recognition threshold. Tax returns for the calendar years 2013 through 2016 remain subject to examination by federal and various state tax jurisdictions.
Segment Reporting	Segment Reporting: The Company’s chief operating decision maker, which is comprised of its Chief Executive Officer, Chief Operating Officer and Chief Financial Officer, assesses and measures the operating results of the Company’s portfolio of properties based on net operating income and does not differentiate properties by geography, market, size or type. Each of the Company’s investment properties is considered a separate operating segment, as each property earns revenue and incurs expenses, individual operating results are reviewed and discrete financial information is available. However, the Company’s properties are aggregated into one reportable segment as they have similar economic characteristics, the Company provides similar services to its tenants and the Company’s chief operating decision maker evaluates the collective performance of its properties.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements Effective January 1, 2016, the Company adopted Accounting Standards Update (ASU) 2015-02, Consolidation , which revised the consolidation guidance for all entities. This new guidance modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs. The adoption of this pronouncement under the modified retrospective method did not have any effect on the Company’s consolidated financial statements as the Company did not have any VIEs at adoption on January 1, 2016; however, during the year ended December 31, 2016, the Company acquired three properties through consolidated VIEs in connection with Internal Revenue Code Section 1031 tax-deferred exchanges (1031 Exchanges) and, accordingly, applied the revised consolidation guidance. See Note 3 to the consolidated financial statements for further details. Effective January 1, 2016, the Company adopted ASU 2015-16, Business Combinations , which requires the acquirer in a business combination to recognize in the period any adjustments to provisional amounts that are identified during the measurement period rather than retrospectively accounting for those adjustments. The adoption of this pronouncement did not have any effect on the Company’s consolidated financial statements. The Company elected to early adopt ASU 2014-15, Presentation of Financial Statements – Going Concern , on January 1, 2016. This new guidance requires a company’s management to assess the entity’s ability to continue as a going concern for a period of one year after the date the financial statements are issued (or available to be issued) and provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. The adoption of this pronouncement did not have any effect on the Company’s consolidated financial statements. The Company elected to early adopt ASU 2016-09, Compensation – Stock Compensation , on January 1, 2016. This new guidance allowed the Company to make an accounting policy election to account for share-based payment award forfeitures when they occur, which required a modified retrospective transition by means of a cumulative-effect adjustment to equity as of the beginning of the period of adoption and resulted in an adjustment of $17 to additional paid-in capital and accumulated distributions in excess of earnings as of January 1, 2016. The Company elected to early adopt ASU 2017-01, Business Combinations , on a prospective basis as of October 1, 2016. This new guidance clarifies the definition of a business and provides a screen to determine when an integrated set of assets and activities is not considered a business and, thus, accounted for as an asset acquisition as opposed to a business combination. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not considered a business. Under this new guidance, the Company expects most acquisitions of investment property will meet the screen and, thus, be accounted for as asset acquisitions. Consistent with existing guidance, transaction costs associated with asset acquisitions are capitalized while transaction costs associated with business combinations are expensed as incurred. The adoption of this pronouncement resulted in the Company’s acquisition of investment properties subsequent to October 1, 2016 to qualify as asset acquisitions and as such, the related transactions costs of $725 were capitalized. Other Recently Issued Accounting Pronouncements In May 2014 with subsequent updates issued in August 2015 and March, April, May and December 2016, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . This new guidance is effective January 1, 2018, with early adoption permitted beginning January 1, 2017, and will replace existing revenue recognition standards. The sale of investment property and any non-lease components contained within lease agreements will be required to follow the new guidance; however, lease components of lease contracts will be excluded from this guidance. This pronouncement allows either a full or a modified retrospective method of adoption. Expanded quantitative and qualitative disclosures regarding revenue recognition will be required for contracts that are subject to this guidance. While the Company anticipates additional disclosure, it does not expect the adoption of this pronouncement will have a material effect on its consolidated financial statements; however, it will continue to evaluate this assessment until the guidance becomes effective. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall . This new guidance is effective January 1, 2018 and will require companies to disclose the fair value of financial assets and financial liabilities measured at amortized cost in accordance with the exit price notion and will no longer require disclosure of the methods and significant assumptions used, including any changes, to estimate fair value. In addition, companies will be required to disclose all financial assets and financial liabilities grouped by 1) measurement category and 2) form of financial instrument. The Company does not expect the adoption of this pronouncement will have a material effect on its consolidated financial statements; however, it will continue to evaluate this assessment until the guidance becomes effective. In February 2016, the FASB issued ASU 2016-02, Leases . This new guidance is effective January 1, 2019, with early adoption permitted, and will require lessees to recognize a liability to make lease payments and a right-of-use asset, initially measured at the present value of lease payments, for both operating and financing leases. For leases with a term of 12 months or less, lessees will be permitted to make an accounting policy election by class of underlying asset to not recognize lease liabilities and lease assets. Under this new pronouncement, lessor accounting will be largely unchanged from existing GAAP. The pronouncement requires a modified retrospective method of adoption, with some optional practical expedients. Upon adoption, the Company will recognize a lease liability and a right-of-use asset for operating leases where it is the lessee, such as ground leases and office and equipment leases. The Company will continue to evaluate the impact of this guidance until it becomes effective. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses . This new guidance is effective January 1, 2020, with early adoption permitted beginning January 1, 2019, and replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses. Financial assets that are measured at amortized cost will be required to be presented at the net amount expected to be collected with an allowance for credit losses deducted from the amortized cost basis. In addition, an entity must consider broader information in developing its expected credit loss estimate, including the use of forecasted information. Generally, the pronouncement requires a modified retrospective method of adoption. The Company will continue to evaluate the impact of this guidance until it becomes effective. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows . This new guidance is effective January 1, 2018, with early adoption permitted, and adds or clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. Of the eight types of cash flows discussed in the new standard, the classification of debt prepayment costs as a financing outflow will impact the Company’s consolidated statements of cash flows as this item is currently reflected as an operating outflow. The pronouncement requires a retrospective transition method of adoption. The Company will continue to evaluate the impact of this guidance until it becomes effective. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows . This new guidance is effective January 1, 2018, with early adoption permitted, and requires amounts that are generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The pronouncement requires a retrospective transition method of adoption. Upon adoption, the Company will include amounts generally described as restricted cash within the beginning-of-period, change and end-of-period total amounts on the statement of cash flows rather than within an activity on the statement of cash flows.

Organization and Basis of Pre31

Organization and Basis of Presentation (Tables)	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of property ownership	The Company’s property ownership as of December 31, 2016 is summarized below: Wholly-owned Retail operating properties (a) 156 Office properties 1 Total operating properties 157 Redevelopment properties 2 (a) Excludes two wholly-owned operating properties classified as held for sale as of December 31, 2016 .

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of amortization of intangible assets and liabilities during the next five years	The following table presents the amortization during the next five years and thereafter related to the acquired lease intangible assets and liabilities for properties owned as of December 31, 2016 : 2017 2018 2019 2020 2021 Thereafter Total Amortization of: Acquired above market lease intangibles (a) $ 4,474 $ 3,850 $ 2,527 $ 1,890 $ 1,373 $ 5,368 $ 19,482 Acquired in-place lease value intangibles (a) 22,627 17,509 12,473 10,324 9,022 50,578 122,533 Acquired lease intangible assets, net (b) $ 27,101 $ 21,359 $ 15,000 $ 12,214 $ 10,395 $ 55,946 $ 142,015 Acquired below market lease intangibles (a) $ (6,124 ) $ (5,849 ) $ (5,545 ) $ (5,369 ) $ (5,177 ) $ (64,208 ) $ (92,272 ) Acquired ground lease intangibles (c) (560 ) (560 ) (560 ) (560 ) (560 ) (10,218 ) (13,018 ) Acquired lease intangible liabilities, net (b) $ (6,684 ) $ (6,409 ) $ (6,105 ) $ (5,929 ) $ (5,737 ) $ (74,426 ) $ (105,290 ) (a) Represents the portion of the purchase price with respect to acquired leases in which the Company is the lessor. The amortization of acquired above and below market lease intangibles is recorded as an adjustment to rental income and the amortization of acquired in-place lease value intangibles is recorded to depreciation and amortization expense. (b) Acquired lease intangible assets, net and acquired lease intangible liabilities, net are presented net of $296,309 and $50,672 of accumulated amortization, respectively, as of December 31, 2016 . (c) Represents the portion of the purchase price with respect to acquired leases in which the Company is the lessee. The amortization is recorded as an adjustment to property operating expenses.
Schedule of impairment charges	Below is a summary of impairment charges recorded during the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 2015 2014 Impairment of consolidated properties (a) $ 20,376 $ 19,937 $ 72,203 (a) Included in “Provision for impairment of investment properties” in the accompanying consolidated statements of operations and other comprehensive income.

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Schedule of acquisitions	The Company closed on the following acquisitions during the year ended December 31, 2016: Date Property Name Metropolitan Property Type Square Footage Acquisition Price January 15, 2016 Shoppes at Hagerstown (a) Hagerstown Multi-tenant retail 113,000 $ 27,055 January 15, 2016 Merrifield Town Center II (a) Washington, D.C. Multi-tenant retail 76,000 45,676 March 29, 2016 Oak Brook Promenade Chicago Multi-tenant retail 183,200 65,954 April 1, 2016 The Shoppes at Union Hill (b) New York Multi-tenant retail 91,700 63,060 April 29, 2016 Ashland & Roosevelt – Fee Interest (c) Chicago Ground lease interest (c) — 13,850 May 5, 2016 Tacoma South Seattle Multi-tenant retail 230,700 39,400 June 15, 2016 Eastside Dallas Multi-tenant retail 67,100 23,842 August 30, 2016 Woodinville Plaza – Anchor Space Improvements (d) Seattle Anchor space improvements (d) — 4,500 November 22, 2016 One Loudoun Downtown – Phase I (e) Washington, D.C. Multi-tenant retail 340,600 124,971 1,102,300 $ 408,308 (a) These properties were acquired as a two -property portfolio. Merrifield Town Center II also contains 62,000 square feet of storage space for a total of 138,000 square feet. (b) In conjunction with this acquisition, the Company assumed mortgage debt with a principal balance of $15,971 and an interest rate of 3.75% that matures in 2031. (c) The Company acquired the fee interest in an existing wholly-owned multi-tenant retail operating property located in Chicago, Illinois, which was previously subject to a ground lease with a third party. In conjunction with this transaction, the Company reversed the straight-line ground rent liability of $6,978 , which is reflected as “Gain on extinguishment of other liabilities” in the accompanying condensed consolidated statements of operations and other comprehensive income. (d) The Company acquired the anchor space improvements, which were previously subject to a ground lease with the Company, at an existing wholly-owned multi-tenant retail operating property located in Woodinville, Washington. (e) The remaining phases at One Loudoun Downtown, representing an aggregate gross purchase price of up to $35,500 , are expected to close throughout the first three quarters of 2017 as the seller completes construction on stand-alone buildings at the property. During the year ended December 31, 2016, the Company also completed a non-monetary transaction in which it received the fee interest in less than an acre of adjacent land and terminated the ground lease on certain undeveloped parcels at an existing wholly-owned multi-tenant retail operating property located in Southlake, Texas in exchange for the fee interest in approximately 2.5 acres of undeveloped parcels. As a result of this transaction, the Company’s fee interest in certain undeveloped parcels at the property are no longer encumbered by the ground lease. The Company capitalized $113 of costs related to this transaction. The Company closed on the following acquisitions during the year ended December 31, 2015: Date Property Name Metropolitan Statistical Area (MSA) Property Type Square Footage Acquisition Price January 8, 2015 Downtown Crown Washington, D.C. Multi-tenant retail 258,000 $ 162,785 January 23, 2015 Merrifield Town Center Washington, D.C. Multi-tenant retail 84,900 56,500 January 23, 2015 Fort Evans Plaza II Washington, D.C. Multi-tenant retail 228,900 65,000 February 19, 2015 Cedar Park Town Center Austin Multi-tenant retail 179,300 39,057 March 24, 2015 Lake Worth Towne Crossing – Parcel (a) Dallas Land (a) — 400 May 4, 2015 Tysons Corner Washington, D.C. Multi-tenant retail 37,700 31,556 June 10, 2015 Woodinville Plaza Seattle Multi-tenant retail 170,800 35,250 July 31, 2015 Southlake Town Square – Outparcel (b) Dallas Single-user outparcel 13,800 8,440 August 27, 2015 Coal Creek Marketplace Seattle Multi-tenant retail 55,900 17,600 October 27, 2015 Royal Oaks Village II – Outparcel (a) Houston Single-user outparcel 12,300 6,841 November 13, 2015 Towson Square Baltimore Multi-tenant retail 138,200 39,707 1,179,800 $ 463,136 (a) The Company acquired a parcel located at its Lake Worth Towne Crossing multi-tenant retail operating property and a single-user outparcel located at its Royal Oaks Village II multi-tenant retail operating property. (b) The Company acquired a single-user outparcel located at its Southlake Town Square multi-tenant retail operating property that was subject to a ground lease with the Company (as lessor) prior to the transaction. The Company closed on the following acquisitions during the year ended December 31, 2014: Date Property Name MSA Property Type Square Footage Acquisition Price Pro Rata Acquisition Price February 27, 2014 Heritage Square Seattle Multi-tenant retail 53,100 $ 18,022 $ 18,022 February 27, 2014 Bed Bath & Beyond Plaza – Fee Interest (a) Miami Ground lease interest (a) — 10,350 10,350 June 5, 2014 MS Inland Portfolio (b) Various Multi-tenant retail 1,194,800 292,500 234,000 June 23, 2014 Southlake Town Square – Outparcel (c) Dallas Single-user outparcel 8,500 6,369 6,369 November 20, 2014 Avondale Plaza Seattle Multi-tenant retail 39,000 15,070 15,070 December 30, 2014 Lakewood Towne Center – Parcel Seattle Multi-tenant parcel 44,000 5,750 5,750 1,339,400 $ 348,061 $ 289,561 (a) The Company acquired the fee interest in an existing wholly-owned multi-tenant retail operating property located in Miami, Florida, which was previously subject to a ground lease with a third party. In conjunction with this transaction, the Company reversed a straight-line ground rent liability of $4,258 , which is presented in “Gain on extinguishment of other liabilities” in the accompanying consolidated statements of operations and other comprehensive income. (b) As discussed in Note 11 to the consolidated financial statements, the Company dissolved its joint venture arrangement with its partner in MS Inland Fund, LLC (MS Inland) by acquiring its partner’s 80% ownership interest in the six multi-tenant retail properties owned by the joint venture (collectively, the MS Inland acquisitions). The Company paid total cash consideration of approximately $120,600 before transaction costs and prorations and after assumption of the joint venture’s in-place mortgage financing on those properties of $141,698 . The Company accounted for this transaction as a business combination achieved in stages and recognized a gain on change in control of investment properties of $24,158 as a result of remeasuring the carrying value of its 20% interest in the six acquired properties to fair value. Such gain is presented as “Gain on change in control of investment properties” in the accompanying consolidated statements of operations and other comprehensive income. (c) The Company acquired a single-user outparcel located at its Southlake Town Square multi-tenant retail operating property that was subject to a ground lease with the Company (as lessor) prior to the transaction.
Schedule of acquisition date fair values	The following table summarizes the acquisition date fair values, before prorations, the Company recorded in conjunction with the acquisitions completed during the years ended December 31, 2016 , 2015 and 2014 discussed above: 2016 2015 2014 Land $ 106,947 $ 161,114 $ 118,732 Building and other improvements 268,075 281,649 219,174 Acquired lease intangible assets (a) 41,002 45,474 35,520 Acquired lease intangible liabilities (b) (8,258 ) (25,101 ) (20,578 ) Mortgages payable, net (c) (15,316 ) — (146,485 ) Net assets acquired (d) $ 392,450 $ 463,136 $ 206,363 (a) The weighted average amortization period for acquired lease intangible assets is nine years , 15 years and eight years for acquisitions completed during the years ended December 31, 2016 , 2015 and 2014 , respectively. (b) The weighted average amortization period for acquired lease intangible liabilities is 18 years , 21 years and 16 years for acquisitions completed during the years ended December 31, 2016 , 2015 and 2014 , respectively. (c) Includes mortgage discount of $(655) for acquisitions completed during the year ended December 31, 2016 and mortgage premium of $4,787 for acquisitions completed during the year ended December 31, 2014. (d) Net assets attributable to the MS Inland acquisition are presented at 100% .
Schedule of condensed pro forma financial information	The unaudited condensed pro forma financial information is as follows: Year Ended December 31, 2016 2015 2014 Total revenues $ 587,374 $ 627,300 $ 635,240 Net income $ 165,696 $ 121,406 $ 18,313 Net income attributable to common shareholders $ 156,246 $ 111,428 $ 8,863 Earnings per common share – basic and diluted: Net income per common share attributable to common shareholders $ 0.66 $ 0.47 $ 0.04 Weighted average number of common shares outstanding – basic 236,651 236,380 236,184

Dispositions (Tables)

Dispositions (Tables)	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of property dispositions	The Company closed on the following dispositions during the year ended December 31, 2015: Date Property Name Property Type Square Footage Consideration Aggregate Proceeds, Net (a) Gain January 20, 2015 Aon Hewitt East Campus Single-user office 343,000 $ 17,233 $ 16,495 $ — February 27, 2015 Promenade at Red Cliff Multi-tenant retail 94,500 19,050 18,848 4,572 April 7, 2015 Hartford Insurance Building Single-user office 97,400 6,015 5,663 860 April 30, 2015 Rasmussen College Single-user office 26,700 4,800 4,449 1,334 May 15, 2015 Mountain View Plaza Multi-tenant retail 162,000 28,500 27,949 10,184 June 4, 2015 Massillon Commons Multi-tenant retail 245,900 12,520 12,145 — June 5, 2015 Citizen's Property Insurance Building Single-user office 59,800 3,650 3,368 440 June 17, 2015 Pine Ridge Plaza Multi-tenant retail 236,500 33,200 31,858 12,938 June 17, 2015 Bison Hollow Multi-tenant retail 134,800 18,800 18,657 4,061 June 17, 2015 The Village at Quail Springs Multi-tenant retail 100,400 11,350 11,267 3,824 July 17, 2015 Greensburg Commons Multi-tenant retail 272,500 18,400 18,283 2,810 July 28, 2015 Arvada Connection and Arvada Marketplace Multi-tenant retail 367,500 54,900 53,159 20,208 July 30, 2015 Traveler's Office Building Single-user office 50,800 4,841 4,643 — August 6, 2015 Shaw's Supermarket Single-user retail 65,700 3,000 2,769 — August 24, 2015 Harvest Towne Center Multi-tenant retail 39,700 7,800 7,381 1,217 August 31, 2015 Trenton Crossing & McAllen Shopping Center (b) Multi-tenant retail 265,900 39,295 38,410 13,760 September 15, 2015 The Shops at Boardwalk Multi-tenant retail 122,400 27,400 26,634 3,146 September 29, 2015 Best on the Boulevard Multi-tenant retail 204,400 42,500 41,542 15,932 September 29, 2015 Montecito Crossing Multi-tenant retail 179,700 52,200 51,415 17,928 October 29, 2015 Green Valley Crossing (c) Development (c) 96,400 35,000 34,200 3,904 November 12, 2015 Lake Mead Crossing Multi-tenant retail 219,900 42,565 41,930 507 December 2, 2015 Golfsmith Single-user retail 14,900 4,475 4,298 1,010 December 9, 2015 Wal-Mart – Turlock Single-user retail 61,000 6,200 5,996 3,157 December 18, 2015 Southgate Plaza Multi-tenant retail 86,100 7,000 6,665 — December 31, 2015 Bellevue Mall Development 369,300 15,750 17,500 — 3,917,200 $ 516,444 $ 505,524 $ 121,792 (a) Aggregate proceeds are net of transaction costs and exclude $300 of condemnation proceeds, which did not result in any additional gain recognition. (b) The terms of the disposition of Trenton Crossing and McAllen Shopping Center were negotiated as a single transaction. (c) The development property had been held in a consolidated joint venture and was sold to an affiliate of the joint venture partner. Concurrent with the sale, the joint venture was dissolved. Approximately $528 of the gain on sale was allocated to the noncontrolling interest holder as its share of the gain. The Company closed on the following dispositions during the year ended December 31, 2016: Date Property Name Property Type Square Footage Consideration Aggregate Proceeds, Net (a) Gain February 1, 2016 The Gateway (b) Multi-tenant retail 623,200 $ 75,000 $ (795 ) $ 3,868 February 10, 2016 Stateline Station Multi-tenant retail 142,600 17,500 17,210 4,253 March 30, 2016 Six Property Portfolio (c) Single-user retail 230,400 35,413 34,986 13,618 April 20, 2016 CVS Pharmacy – Oklahoma City Single-user retail 10,900 4,676 4,608 1,764 June 2, 2016 Rite Aid Store (Eckerd) – Canandaigua & Tim Horton Donut Shop (d) Single-user retail 16,600 5,400 5,333 1,444 June 15, 2016 Academy Sports – Midland Single-user retail 61,200 5,541 5,399 2,220 June 23, 2016 Four Rite Aid Portfolio (e) Single-user retail 45,400 15,934 14,646 2,287 July 8, 2016 Broadway Shopping Center Multi-tenant retail 190,300 20,500 20,103 7,958 July 21, 2016 Mid-Hudson Center Multi-tenant retail 235,600 27,500 25,615 — July 27, 2016 Rite Aid Store (Eckerd), Main St. – Buffalo Single-user retail 10,900 3,388 3,296 344 July 29, 2016 Rite Aid Store (Eckerd) – Lancaster Single-user retail 10,900 3,425 3,349 625 August 4, 2016 Alison’s Corner Multi-tenant retail 55,100 7,850 7,559 3,334 August 5, 2016 Rite Aid Store (Eckerd) – Lake Ave. Single-user retail 13,200 5,400 5,334 907 August 12, 2016 Maple Tree Place Multi-tenant retail 489,000 90,000 87,047 15,566 August 12, 2016 CVS Pharmacy – Burleson Single-user retail 10,900 4,190 4,102 1,425 August 18, 2016 Mitchell Ranch Plaza Multi-tenant retail 199,600 55,625 54,305 33,612 August 22, 2016 Rite Aid Store (Eckerd), E. Main St. – Batavia Single-user retail 13,800 5,050 4,924 1,249 September 9, 2016 Rite Aid Store (Eckerd) – Lockport Single-user retail 13,800 4,690 4,415 753 September 9, 2016 Rite Aid Store (Eckerd), Ferry St. – Buffalo Single-user retail 10,900 3,600 3,370 612 November 9, 2016 Walgreens – Northwoods Single-user retail 16,300 6,450 5,793 2,199 November 23, 2016 Ten Rite Aid Portfolio (f) Single-user retail 119,700 30,000 29,380 251 December 8, 2016 Vail Ranch Plaza Multi-tenant retail 101,800 27,450 27,160 11,247 December 15, 2016 Pacheco Pass Phase I & II Multi-tenant retail 194,300 41,500 39,549 4,758 December 16, 2016 South Billings Center (g) Development (g) — 2,250 2,157 — December 22, 2016 Rite Aid Store (Eckerd) – Colesville Single-user retail 13,400 7,700 7,444 1,893 December 29, 2016 Commons at Royal Palm Multi-tenant retail 156,500 23,700 21,460 6,553 December 30, 2016 CVS Pharmacy (Eckerd) – Edmond & CVS Pharmacy (Eckerd) – Norman (h) Single-user retail 27,600 10,630 10,467 5,069 3,013,900 $ 540,362 $ 448,216 $ 127,809 (a) Aggregate proceeds are net of transaction costs. (b) The property was disposed of through a lender-directed sale in full satisfaction of the Company’s $94,353 mortgage obligation. Immediately prior to the disposition, the lender reduced the Company’s loan obligation to $75,000 which was assumed by the buyer in connection with the disposition. Along with the loan reduction, the lender received the balance of the restricted escrows that they held and the rights to unpaid accounts receivable and forgave accrued interest, resulting in a net gain on extinguishment of debt of $13,653 . (c) Portfolio consists of the following properties: (i) Academy Sports – Houma, (ii) Academy Sports – Port Arthur, (iii) Academy Sports – San Antonio, (iv) CVS Pharmacy – Moore, (v) CVS Pharmacy – Saginaw and (vi) Rite Aid Store (Eckerd) – Olean. (d) The terms of the disposition of Rite Aid Store (Eckerd) – Canandaigua and Tim Horton Donut Shop were negotiated as a single transaction. (e) Portfolio consists of the following properties: (i) Rite Aid Store (Eckerd) – Cheektowaga, (ii) Rite Aid Store (Eckerd), W. Main St. – Batavia, (iii) Rite Aid Store (Eckerd), Union Rd. – West Seneca and (iv) Rite Aid Store (Eckerd) – Greece. (f) Portfolio consists of the following properties: (i) Rite Aid Store (Eckerd) – Chattanooga, (ii) Rite Aid Store (Eckerd) – Yorkshire, (iii) Rite Aid Store (Eckerd), Sheridan Dr. – Amherst, (iv) Rite Aid Store (Eckerd) – Grand Island, (v) Rite Aid Store (Eckerd) – North Chili, (vi) Rite Aid Store (Eckerd) – Tonawanda, (vii) Rite Aid Store (Eckerd) – Irondequoit, (viii) Rite Aid Store (Eckerd) – Hudson, (ix) Rite Aid Store (Eckerd), Transit Rd. – Amherst and (x) Rite Aid Store (Eckerd), Harlem Rd. – West Seneca. (g) South Billings Center was classified as a development property but was not under active development. (h) The terms of the disposition of CVS Pharmacy (Eckerd) – Edmond and CVS Pharmacy (Eckerd) – Norman were negotiated as a single transaction.
Schedule of assets and liabilities associated with investment properties held for sale	The following table presents the assets and liabilities associated with the investment properties classified as held for sale: December 31, 2016 Assets Land, building and other improvements $ 45,395 Accumulated depreciation (15,769 ) Net investment properties 29,626 Other assets 1,201 Assets associated with investment properties held for sale $ 30,827 Liabilities Other liabilities $ 864 Liabilities associated with investment properties held for sale $ 864

Equity Compensation Plans (Tabl

Equity Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of unvested restricted shares and restricted stock units	The following table summarizes the Company’s unvested RSUs as of and for the years ended December 31, 2016 and 2015: Unvested RSUs Weighted Average Grant Date Fair Value per RSU RSUs eligible for future conversion as of January 1, 2015 — $ — RSUs granted (a) 180 $ 14.19 RSUs ineligible for conversion (6 ) $ 14.10 RSUs eligible for future conversion as of December 31, 2015 174 $ 14.20 RSUs granted (b) 246 $ 13.85 RSUs ineligible for conversion (29 ) $ 13.56 RSUs eligible for future conversion as of December 31, 2016 (c) 391 $ 14.02 (a) Assumptions as of the grant dates included a weighted average risk-free interest rate of 0.80% , the Company’s historical common stock performance relative to the peer companies within the NAREIT Shopping Center Index and the Company’s weighted average common stock dividend yield of 4.26% . (b) Assumptions as of the grant dates included a weighted average risk-free interest rate of 0.89% , the Company’s historical common stock performance relative to the peer companies within the NAREIT Shopping Center Index and the Company’s weighted average common stock dividend yield of 4.59% . (c) As of December 31, 2016 , total unrecognized compensation expense related to unvested RSUs was $3,471 , which is expected to be amortized over a weighted average term of 2.4 years . The following table summarizes the Company’s unvested restricted shares as of and for the years ended December 31, 2016 , 2015 and 2014 : Unvested Restricted Shares Weighted Average Grant Date Fair Value per Restricted Share Balance as of January 1, 2014 152 $ 15.11 Shares granted (a) 303 $ 13.89 Shares vested (58 ) $ 14.50 Shares forfeited (1 ) $ 15.61 Balance as of December 31, 2014 396 $ 14.26 Shares granted (a) 801 $ 15.82 Shares vested (405 ) $ 14.89 Shares forfeited (4 ) $ 16.01 Balance as of December 31, 2015 788 $ 15.52 Shares granted (a) 274 $ 14.76 Shares vested (510 ) $ 15.38 Shares forfeited (b) (10 ) $ 14.70 Balance as of December 31, 2016 (c) 542 $ 15.28 (a) Shares granted in 2014 , 2015 and 2016 vest over periods ranging from one year to three years , 0.4 years to 3.4 years and 0.4 years to 3.9 years , respectively, in accordance with the terms of applicable award agreements. (b) Effective January 1, 2016, the Company made an accounting policy election to account for forfeitures when they occur. (c) As of December 31, 2016 , total unrecognized compensation expense related to unvested restricted shares was $2,674 , which is expected to be amortized over a weighted average term of 1.3 years .

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Schedule of minimum lease payments to be received under operating leases	Minimum lease payments to be received under operating leases, excluding payments under master lease agreements, additional percentage rent based on tenants’ sales volume and tenant reimbursements of certain operating expenses and assuming no exercise of renewal options or early termination rights, are as follows: Minimum Lease Payments 2017 $ 423,207 2018 382,938 2019 321,179 2020 262,571 2021 213,514 Thereafter 720,075 Total $ 2,323,484 The remaining lease terms range from less than one year to more than 66 years .
Schedule of rent expense	The following table summarizes rent expense included in the accompanying consolidated statements of operations and other comprehensive income, including straight-line rent expense. Year Ended December 31, 2016 2015 2014 Ground lease rent expense (a) $ 10,464 $ 11,461 $ 11,676 Office rent expense (b) $ 1,317 $ 1,246 $ 1,210 (a) Included in “Operating expenses” in the accompanying consolidated statements of operations and other comprehensive income. Includes straight-line ground rent expense of $3,253 , $3,722 and $3,889 for the years ended December 31, 2016 , 2015 and 2014 , respectively. (b) Office rent expense related to property management operations is included in “Operating expenses” and office rent expense related to corporate office operations is included in “General and administrative expenses” in the accompanying consolidated statements of operations and other comprehensive income.
Schedule of minimum future rental obligations to be paid under ground and office leases	Minimum future rental obligations to be paid under the ground and office leases, including fixed rental increases, are as follows: Minimum Lease Obligations 2017 $ 7,853 2018 7,842 2019 8,157 2020 8,318 2021 8,525 Thereafter 376,939 Total $ 417,634

Mortgages Payable (Tables)

Mortgages Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Summary of mortgages payable	The following table summarizes the Company’s mortgages payable: December 31, 2016 December 31, 2015 Aggregate Principal Balance Weighted Average Interest Rate Weighted Average Years to Maturity Aggregate Principal Balance Weighted Average Interest Rate Weighted Average Years to Maturity Fixed rate mortgages payable (a) $ 773,395 6.31 % 4.2 $ 1,128,505 (b) 6.08 % 3.9 Premium, net of accumulated amortization 1,437 1,865 Discount, net of accumulated amortization (622 ) (1 ) Capitalized loan fees, net of accumulated amortization (5,026 ) (7,233 ) Mortgages payable, net $ 769,184 $ 1,123,136 (a) The fixed rate mortgages had interest rates ranging from 3.75% to 8.00% and 3.35% to 8.00% as of December 31, 2016 and 2015 , respectively. (b) Includes $7,910 of variable rate mortgage debt that was swapped to a fixed rate as of December 31, 2015.
Summary of scheduled maturities and principal amortization of indebtedness	The following table shows the scheduled maturities and principal amortization of the Company’s indebtedness as of December 31, 2016 , for each of the next five years and thereafter and the weighted average interest rates by year. The table does not reflect the impact of any 2017 debt activity, such as the defeasance of the IW JV portfolio of mortgages payable or the funding of the $200,000 unsecured term loan due 2023 (Term Loan Due 2023), which closed during the year ended December 31, 2016 and funded on January 3, 2017. 2017 2018 2019 2020 2021 Thereafter Total Debt: Fixed rate debt: Mortgages payable (a) $ 35,023 $ 11,463 $ 433,982 $ 4,334 $ 23,249 $ 265,344 $ 773,395 Fixed rate term loan (b) — — — — 250,000 — 250,000 Unsecured notes payable (c) — — — — 100,000 600,000 700,000 Total fixed rate debt 35,023 11,463 433,982 4,334 373,249 865,344 1,723,395 Variable rate debt: Variable rate term loan and revolving line of credit — 200,000 — 86,000 — — 286,000 Total debt (d) $ 35,023 $ 211,463 $ 433,982 $ 90,334 $ 373,249 $ 865,344 $ 2,009,395 Weighted average interest rate on debt: Fixed rate debt 4.83 % 6.51 % 7.49 % 4.58 % 2.73 % 4.36 % 4.82 % Variable rate debt (e) — 2.22 % — 2.12 % — — 2.19 % Total 4.83 % 2.45 % 7.49 % 2.24 % 2.73 % 4.36 % 4.44 % (a) Excludes mortgage premium of $1,437 and discount of $(622) , net of accumulated amortization, as of December 31, 2016 . (b) $250,000 of London Interbank Offered Rate (LIBOR)-based variable rate debt has been swapped to a fixed rate through two interest rate swaps. The swaps effectively convert one-month floating rate LIBOR to a weighted average fixed rate of 0.6677% through December 31, 2017. (c) Excludes discount of $(971) , net of accumulated amortization, as of December 31, 2016 . (d) The weighted average years to maturity of consolidated indebtedness was 5.3 years as of December 31, 2016 . Total debt excludes capitalized loan fees of $(11,314) , net of accumulated amortization, as of December 31, 2016 , which are included as a reduction to the respective debt balances, and the Term Loan Due 2023, which funded on January 3, 2017. Refer to Note 9 to the consolidated financial statements for further details on the Term Loan Due 2023. (e) Represents interest rates as of December 31, 2016 .

Unsecured Notes Payable (Tables

Unsecured Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Summary of unsecured notes payable	The following table summarizes the Company’s unsecured notes payable: December 31, 2016 December 31, 2015 Unsecured Notes Payable Maturity Date Principal Balance Interest Rate/ Weighted Average Interest Rate Principal Interest Rate/ Senior notes – 4.12% due 2021 June 30, 2021 $ 100,000 4.12 % $ 100,000 4.12 % Senior notes – 4.58% due 2024 June 30, 2024 150,000 4.58 % 150,000 4.58 % Senior notes – 4.00% due 2025 March 15, 2025 250,000 4.00 % 250,000 4.00 % Senior notes – 4.08% due 2026 September 30, 2026 100,000 4.08 % — — % Senior notes – 4.24% due 2028 December 28, 2028 100,000 4.24 % — — % 700,000 4.19 % 500,000 4.20 % Discount, net of accumulated amortization (971 ) (1,090 ) Capitalized loan fees, net of accumulated amortization (3,886 ) (3,334 ) Total $ 695,143 $ 495,576

Unsecured Term Loans and Revo39

Unsecured Term Loans and Revolving Line of Credit (Tables)	12 Months Ended
	Dec. 31, 2016
Line of Credit Facility [Abstract]
Summary of unsecured credit facility	The following table summarizes the key terms of the Company’s Unsecured Credit Facility: Leverage-Based Pricing Ratings-Based Pricing Unsecured Credit Facility Maturity Date Extension Option Extension Fee Credit Spread Unused Fee Credit Spread Facility Fee $250,000 unsecured term loan 1/5/2021 N/A N/A 1.30% - 2.20% N/A 0.90% - 1.75% N/A $200,000 unsecured term loan 5/11/2018 2 one year 0.15% 1.45% - 2.20% N/A 1.05% - 2.05% N/A $750,000 unsecured revolving line of credit 1/5/2020 2 six month 0.075% 1.35% - 2.25% 0.15% - 0.25% 0.85% - 1.55% 0.125% - 0.30% The following table summarizes the Company’s Unsecured Credit Facility: December 31, 2016 December 31, 2015 Unsecured Credit Facility Balance Interest Rate/ Weighted Average Interest Rate Balance Interest Rate/ $250,000 unsecured term loan – fixed rate (a) $ 250,000 1.97 % $ — — % $200,000 unsecured term loan – variable rate 200,000 2.22 % — — % $450,000 unsecured term loan – fixed rate portion (b) — — % 300,000 1.99 % $450,000 unsecured term loan – variable rate portion — — % 150,000 1.88 % Subtotal 450,000 450,000 Capitalized loan fees, net of accumulated amortization (2,402 ) (2,474 ) Term loans, net 447,598 447,526 Revolving line of credit – variable rate (c) 86,000 2.12 % 100,000 1.93 % Total unsecured credit facility, net $ 533,598 2.09 % $ 547,526 1.95 % (a) As of December 31, 2016 , $250,000 of LIBOR-based variable rate debt has been swapped to a weighted average fixed rate of 0.6677% plus a credit spread based on a leverage grid ranging from 1.30% to 2.20% through December 31, 2017. The applicable credit spread was 1.30% as of December 31, 2016 . (b) As of December 31, 2015 , $300,000 of LIBOR-based variable rate debt had been swapped to a fixed rate of 0.53875% plus a credit spread based on a leverage grid ranging from 1.45% to 2.00% through February 2016. The applicable credit spread was 1.45% as of December 31, 2015 . (c) Excludes capitalized loan fees, which are included in “Other assets, net” in the accompanying consolidated balance sheets.

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	During the year ended December 31, 2016 , the Company entered into the following two interest rate swaps which effectively convert one-month floating rate LIBOR to a fixed rate: Effective Date Notional Fixed Interest Rate Termination Date March 1, 2016 $ 100,000 0.6591 % December 31, 2017 May 16, 2016 $ 150,000 0.6735 % December 31, 2017
Schedule of interest rate swaps designated as cash flow hedges	The following table summarizes the Company’s interest rate swaps that were designated as cash flow hedges of interest rate risk: Number of Instruments Notional Interest Rate Derivatives December 31, December 31, December 31, December 31, Interest rate swaps 2 2 $ 250,000 $ 307,910
Schedule of estimated fair value of derivative instruments	The table below presents the estimated fair value of the Company’s derivative financial instruments as well as their classification in the consolidated balance sheets. The valuation techniques utilized are described in Note 16 to the consolidated financial statements. December 31, 2016 December 31, 2015 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedges: Interest rate swaps Other assets, net $ 743 N/A $ — Interest rate swaps N/A $ — Other liabilities $ 85
Schedule of effect of derivative instruments on the consolidated statements of operations	The following table presents the effect of the Company’s derivative financial instruments on the accompanying consolidated statements of operations and other comprehensive income: Derivatives in Cash Flow Hedging Relationships Amount of (Gain) Loss Recognized in Other Comprehensive Income on Derivative (Effective Portion) Location of Loss Reclassified from Accumulated Other Comprehensive Income (AOCI) into Income (Effective Portion) Amount of Loss Reclassified from AOCI into Income (Effective Portion) Location of Gain Recognized In Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) 2016 2015 2016 2015 2016 2015 Interest rate swaps $ (399 ) $ 643 Interest expense $ 408 $ 1,095 Other income, net $ (21 ) $ (25 )

Investment in Unconsolidated 41

Investment in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of condensed income statement of unconsolidated joint ventures	Combined condensed financial information of the Company’s unconsolidated joint ventures (at 100% ) for the year ended December 31, 2014, the period attributable to the Company’s ownership, is summarized as follows: Other Joint Ventures (a) 2014 Revenues Property related income $ 11,853 Other income 6,679 Total revenues 18,532 Expenses Operating expenses 1,660 Real estate taxes 2,339 Depreciation and amortization 3,948 General and administrative expenses 268 Interest expense 3,028 Other expense, net 11,921 Total expenses 23,164 Loss from continuing operations (4,632 ) Net loss $ (4,632 ) (a) On June 5, 2014, the Company dissolved its joint venture arrangement with its partner in MS Inland. In addition, effective December 1, 2014, the Company terminated its investment in the Captive.
Summary of profits, losses and capital activity related to unconsolidated joint ventures	The following table summarizes the Company’s share of net income (loss) as well as net cash distributions from (contributions to) each unconsolidated joint venture for the year ended December 31, 2014: The Company’s Share of Net Cash Distributions from/(Contributions to) Joint Ventures Fees Earned by the Company Joint Venture 2014 2014 2014 MS Inland (a) $ 241 $ 1,360 $ 338 Captive (b) (2,444 ) (25 ) — $ (2,203 ) $ 1,335 $ 338 (a) On June 5, 2014, the Company dissolved its joint venture arrangement with its partner in MS Inland. (b) Effective December 1, 2014, the Company terminated its participation in the Captive.
Summary of acquisition activity for unconsolidated joint ventures	On June 5, 2014, the Company dissolved its joint venture arrangement with its partner in MS Inland by acquiring its partner’s 80% ownership interest in the six properties owned by the joint venture (see Note 3 to the consolidated financial statements). The six properties had, at acquisition, a combined fair value of $292,500 , with the Company’s partner’s interest valued at $234,000 . The Company paid total cash consideration of approximately $120,600 before transaction costs and prorations and after assumption of the joint venture’s in-place mortgage financing on those properties of $141,698 at a weighted average interest rate of 4.79% . The Company accounted for this transaction as a business combination achieved in stages and recognized a gain on change in control of investment properties of $24,158 as a result of remeasuring the carrying value of its 20% interest in the six acquired properties to fair value. The following table summarizes the calculation of the gain on change in control of investment properties recognized in conjunction with the transaction discussed above: Fair value of the net assets acquired at 100% $ 150,802 Fair value of the net assets acquired at 20% $ 30,160 Less: Carrying value of the Company’s previous investment in the six properties acquired on June 5, 2014 6,002 Gain on change in control of investment properties $ 24,158

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of components used in the calculation of basic and diluted EPS	The following table summarizes the components used in the calculation of basic and diluted earnings per share (EPS): Year Ended December 31, 2016 2015 2014 Numerator: Income from continuing operations $ 37,110 $ 3,832 $ 597 Gain on sales of investment properties 129,707 121,792 42,196 Net income from continuing operations attributable to noncontrolling interest — (528 ) — Preferred stock dividends (9,450 ) (9,450 ) (9,450 ) Income from continuing operations attributable to common shareholders 157,367 115,646 33,343 Income from discontinued operations — — 507 Net income attributable to common shareholders 157,367 115,646 33,850 Distributions paid on unvested restricted shares (445 ) (481 ) (225 ) Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 156,922 $ 115,165 $ 33,625 Denominator: Denominator for earnings per common share – basic: Weighted average number of common shares outstanding 236,651 (a) 236,380 (b) 236,184 (c) Effect of dilutive securities: Stock options 2 (d) 2 (d) 3 (d) RSUs 298 (e) — (f) — Denominator for earnings per common share – diluted: Weighted average number of common and common equivalent shares outstanding 236,951 236,382 236,187 (a) Excludes 542 shares of unvested restricted common stock, which equate to 637 shares on a weighted average basis for the year ended December 31, 2016 . These shares will continue to be excluded from the computation of basic EPS until contingencies are resolved and the shares are released. (b) Excludes 788 shares of unvested restricted common stock, which equate to 768 shares on a weighted average basis for the year ended December 31, 2015 . These shares were excluded from the computation of basic EPS as the contingencies remained and the shares had not been released as of the end of the reporting period. (c) Excludes 396 shares of unvested restricted common stock, which equate to 364 shares on a weighted average basis for the year ended December 31, 2014 . These shares were excluded from the computation of basic EPS as the contingencies remained and the shares had not been released as of the end of the reporting period. (d) There were outstanding options to purchase 41 , 53 and 64 shares of common stock as of December 31, 2016 , 2015 and 2014 , respectively, at a weighted average exercise price of $19.25 , $19.39 and $19.32 , respectively. Of these totals, outstanding options to purchase 35 , 45 and 54 shares of common stock as of December 31, 2016 , 2015 and 2014 , respectively, at a weighted average exercise price of $20.55 , $20.74 and $20.72 , respectively, have been excluded from the common shares used in calculating diluted earnings per share as including them would be anti-dilutive. (e) There were 391 RSUs eligible for future conversion following the performance period as of December 31, 2016 (see Note 5 to the consolidated financial statements), which equate to 367 RSUs on a weighted average basis for the year ended December 31, 2016. These contingently issuable shares are included in diluted EPS based on the weighted average number of shares that would be outstanding during the period, if any, assuming the end of the reporting period was the end of the contingency periods. (f) There were 174 RSUs eligible for future conversion following the performance period as of December 31, 2015, which equate to 101 RSUs on a weighted average basis for the year ended December 31, 2015. These contingently issuable shares are included in diluted EPS based on the weighted average number of shares that would be outstanding during the period, if any, assuming the end of the reporting period was the end of the contingency period. Assuming December 31, 2015 was the end of the contingency period, none of these contingently issuable shares would have been outstanding.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	The Company’s deferred tax assets and liabilities as of December 31, 2016 and 2015 were as follows: 2016 2015 Deferred tax assets: Basis difference in properties $ — $ 1,109 Capital loss carryforward 9,628 9,885 Net operating loss carryforward 10,677 12,543 Other 870 81 Gross deferred tax assets 21,175 23,618 Less: valuation allowance (21,175 ) (23,618 ) Total deferred tax assets — — Deferred tax liabilities: Other — — Net deferred tax assets $ — $ —
Reconciliation of net income to REIT taxable income before the dividends paid deduction	The following table reconciles the Company’s net income to REIT taxable income before the dividends paid deduction for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Net income attributable to the Company $ 166,817 $ 125,096 $ 43,300 Book/tax differences (50,950 ) 2,344 71,910 REIT taxable income subject to 90% dividend requirement $ 115,867 $ 127,440 $ 115,210
Schedule of dividends paid deduction	The Company’s dividends paid deduction for the years ended December 31, 2016 , 2015 and 2014 is summarized below: 2016 2015 2014 Cash distributions paid $ 166,285 $ 166,064 $ 166,025 Less: non-dividend distributions (50,418 ) (38,624 ) (50,815 ) Total dividends paid deduction attributable to earnings and profits $ 115,867 $ 127,440 $ 115,210
Schedule of tax characterization of distributions paid per share	A summary of the tax characterization of the distributions paid per share to shareholders of the Company’s preferred stock and common stock for the years ended December 31, 2016 , 2015 and 2014 follows: 2016 2015 2014 Preferred stock Ordinary dividends $ 1.75 $ 1.75 $ 1.75 Non-dividend distributions — — — Total distributions per share $ 1.75 $ 1.75 $ 1.75 Common stock Ordinary dividends $ 0.45 $ 0.50 $ 0.45 Non-dividend distributions 0.21 0.16 0.21 Total distributions per share $ 0.66 $ 0.66 $ 0.66

Provision for Impairment of I44

Provision for Impairment of Investment Properties (Tables)	12 Months Ended
	Dec. 31, 2016
Impairment or Disposal of Tangible Assets Disclosure [Abstract]
Schedule of identified impairment indicators	As of December 31, 2016 , 2015 and 2014 , the Company identified indicators of impairment at certain of its properties. Such indicators included a low occupancy rate, difficulty in leasing space and related cost of re-leasing, financially troubled tenants or reduced anticipated holding periods. The following table summarizes the results of these analyses as of December 31, 2016 , 2015 and 2014 : December 31, 2016 2015 2014 Number of properties for which indicators of impairment were identified 7 3 (a) 8 (b) Less: number of properties for which an impairment charge was recorded 2 — 3 Less: number of properties that were held for sale as of the date the analysis was performed for which indicators of impairment were identified but no impairment charge was recorded 2 — 1 Remaining properties for which indicators of impairment were identified but no impairment charge was considered necessary 3 3 4 Weighted average percentage by which the projected undiscounted cash flows exceeded its respective carrying value for each of the remaining properties (c) 21 % 42 % 48 % (a) Includes one property which has subsequently been sold as of December 31, 2016 . (b) Includes seven properties which have subsequently been sold as of December 31, 2016 . (c) Based upon the estimated holding period for each asset where an undiscounted cash flow analysis was performed.
Schedule of investment property impairment charges	The Company recorded the following investment property impairment charges during the year ended December 31, 2016: Property Name Property Type Impairment Date Square Footage Provision for Impairment of Investment Properties South Billings Center (a) Development Various (a) — $ 3,007 Mid-Hudson Center (b) Multi-tenant retail June 30, 2016 235,600 4,142 Saucon Valley Square (c) Multi-tenant retail September 30, 2016 80,700 4,742 Crown Theater (d) Single-user retail December 31, 2016 74,200 5,985 Rite Aid Store (Eckerd), Culver Rd. (e) Single-user retail December 31, 2016 10,900 2,500 $ 20,376 Estimated fair value of impaired properties as of impairment date $ 40,850 (a) An impairment charge was recorded on March 31, 2016 based upon the terms and conditions of an executed sales contract, which was subsequently terminated. The property, which was not under active development, was sold on December 16, 2016 and additional impairment was recognized pursuant to the terms and conditions of an executed sales contract. (b) The Company recorded an impairment charge based upon the terms and conditions of an executed sales contract. This property was classified as held for sale as of June 30, 2016 and was sold on July 21, 2016. (c) The Company recorded an impairment charge driven by a change in the estimated holding period for the property. (d) The Company recorded an impairment charge upon re-evaluating the strategic alternatives for the property. (e) The Company recorded an impairment charge based upon the terms and conditions of a bona fide purchase offer. This property was sold on January 27, 2017. The Company recorded the following investment property impairment charges during the year ended December 31, 2015: Property Name Property Type Impairment Date Square Footage Provision for Impairment of Investment Properties Massillon Commons (a) Multi-tenant retail June 4, 2015 245,900 $ 2,289 Traveler’s Office Building (a) Single-user office June 30, 2015 50,800 1,655 Shaw’s Supermarket (a) Single-user retail August 6, 2015 65,700 169 Southgate Plaza (a) Multi-tenant retail December 18, 2015 86,100 2,484 Bellevue Mall (a) Development December 31, 2015 369,300 13,340 $ 19,937 Estimated fair value of impaired properties as of impairment date $ 43,720 (a) The Company recorded impairment charges based upon the terms and conditions of an executed sales contract for the respective properties, which were sold during 2015. The Company recorded the following investment property impairment charges during the year ended December 31, 2014: Property Name Property Type Impairment Date Square Footage Provision for Impairment of Investment Properties Midtown Center (a) Multi-tenant retail March 31, 2014 408,500 $ 394 Gloucester Town Center (b) Multi-tenant retail Various (b) 107,200 6,148 Boston Commons (a) Multi-tenant retail August 19, 2014 103,400 453 Four Peaks Plaza (a) Multi-tenant retail August 27, 2014 140,400 4,154 Shaw’s Supermarket (c) Single-user retail September 30, 2014 65,700 6,230 The Gateway (d) Multi-tenant retail September 30, 2014 623,200 42,999 Newburgh Crossing (a) Multi-tenant retail December 22, 2014 62,900 1,139 Hartford Insurance Building (e) Single-user office December 31, 2014 97,400 5,782 Citizen’s Property Insurance Building (e) Single-user office December 31, 2014 59,800 4,341 Aon Hewitt East Campus (f) Single-user office December 31, 2014 343,000 563 Total $ 72,203 Estimated fair value of impaired properties as of impairment date $ 190,953 (a) The Company recorded impairment charges based upon the terms and conditions of an executed sales contract for each of the respective properties, which were sold during 2014. (b) An impairment charge was recorded on June 30, 2014 based upon the terms of a bona fide purchase offer and additional impairment was recognized on September 30, 2014 pursuant to the terms and conditions of an executed sales contract. (c) The Company recorded an impairment charge upon re-evaluating the strategic alternatives for the property. (d) The Company recorded an impairment charge as a result of a combination of factors including the expected impact on future operating results stemming from a re-evaluation of the anticipated positioning of, and tenant population at, the property and a re-evaluation of other potential strategic alternatives for the property. This property was sold on February 1, 2016. (e) The Company recorded impairment charges driven by changes in the estimated holding periods for the properties. (f) The Company recorded an impairment charge based upon the terms and conditions of an executed sales contract. This property was classified as held for sale as of December 31, 2014 and was sold on January 20, 2015.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of carrying value and estimated fair value of financial instruments	The following table presents the carrying value and estimated fair value of the Company’s financial instruments: December 31, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Financial assets: Derivative asset $ 743 $ 743 $ — $ — Financial liabilities: Mortgages payable, net $ 769,184 $ 833,210 $ 1,123,136 $ 1,213,620 Unsecured notes payable, net $ 695,143 $ 679,212 $ 495,576 $ 486,701 Unsecured term loans, net $ 447,598 $ 450,421 $ 447,526 $ 450,000 Unsecured revolving line of credit $ 86,000 $ 86,130 $ 100,000 $ 100,000 Derivative liability $ — $ — $ 85 $ 85
Schedule of financial instruments measured at fair value on a recurring basis	The following table presents the Company’s financial instruments, which are measured at fair value on a recurring basis, by the level in the fair value hierarchy within which those measurements fall. Methods and assumptions used to estimate the fair value of these instruments are described after the table. Fair Value Level 1 Level 2 Level 3 Total December 31, 2016 Derivative asset $ — $ 743 $ — $ 743 December 31, 2015 Derivative liability $ — $ 85 $ — $ 85
Schedule of assets measured at fair value on a nonrecurring basis	The following table presents the Company’s assets measured at fair value on a nonrecurring basis as of December 31, 2016 aggregated by the level within the fair value hierarchy in which those measurements fall. The table includes information related to properties remeasured to fair value during the year ended December 31, 2016 , except for those properties sold prior to December 31, 2016 . Methods and assumptions used to estimate the fair value of these assets are described after the table. Fair Value Level 1 Level 2 Level 3 Total Provision for Impairment (a) December 31, 2016 Investment properties $ — $ 500 (b) $ 10,600 (c) $ 11,100 $ 13,227 (a) Excludes impairment charges recorded on investment properties sold prior to December 31, 2016 . (b) Represents the fair value of the Company’s Rite Aid Store (Eckerd), Culver Rd. investment property. The estimated fair value of Rite Aid Store (Eckerd), Culver Rd. was based upon the expected sales price from a bona fide purchase offer and determined to be a Level 2 input. (c) Represents the fair values of the Company’s Crown Theater and Saucon Valley Square investment properties. The estimated fair values of Crown Theater and Saucon Valley Square of $4,000 and $6,600 , respectively, were determined using the income approach. The income approach involves discounting the estimated income stream and reversion (presumed sale) value of a property over an estimated holding period to a present value at a risk-adjusted rate. Discount rates, growth assumptions and terminal capitalization rates utilized in this approach are derived from property-specific information, market transactions and other financial and industry data. The terminal capitalization rate and discount rate are significant inputs to this valuation. The following were the key Level 3 inputs used in estimating the fair values of Crown Theater as of December 31, 2016 and Saucon Valley Square as of September 30, 2016, the date the assets were measured at fair value: 2016 Low High Rental growth rates Varies (i) Varies (i) Operating expense growth rates 3.10% 18.02% Discount rates 9.35% 10.00% Terminal capitalization rates 8.35% 9.50% (i) Since cash flow models are established at the tenant level, projected rental revenue growth rates fluctuate over the course of the estimated holding period based upon the timing of lease rollover, amount of available space and other property and space-specific factors. The Company did not have any assets measured at fair value on a nonrecurring basis as of December 31, 2015.
Schedule of financial liabilities measured at fair value for disclosure purposes	The following table presents the Company’s financial liabilities, which are measured at fair value for disclosure purposes, by the level in the fair value hierarchy within which those measurements fall. Methods and assumptions used to estimate the fair value of these instruments are described after the table. Fair Value Level 1 Level 2 Level 3 Total December 31, 2016 Mortgages payable, net $ — $ — $ 833,210 $ 833,210 Unsecured notes payable, net $ 234,700 $ — $ 444,512 $ 679,212 Unsecured term loans, net $ — $ — $ 450,421 $ 450,421 Unsecured revolving line of credit $ — $ — $ 86,130 $ 86,130 December 31, 2015 Mortgages payable, net $ — $ — $ 1,213,620 $ 1,213,620 Unsecured notes payable, net $ 239,482 $ — $ 247,219 $ 486,701 Unsecured term loan, net $ — $ — $ 450,000 $ 450,000 Unsecured revolving line of credit $ — $ — $ 100,000 $ 100,000

Quarterly Financial Informati46

Quarterly Financial Information (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information (unaudited)	The following table sets forth selected quarterly financial data for the Company: 2016 Dec 31 Sep 30 Jun 30 Mar 31 Total revenues $ 142,752 $ 144,526 $ 147,226 $ 148,639 Net income $ 18,295 $ 72,494 $ 28,602 $ 47,426 Net income attributable to common shareholders $ 15,932 $ 70,132 $ 26,239 $ 45,064 Net income per common share attributable to common shareholders – basic and diluted $ 0.07 $ 0.30 $ 0.11 $ 0.19 Weighted average number of common shares outstanding – basic 236,528 236,783 236,716 236,578 Weighted average number of common shares outstanding – diluted 236,852 237,108 236,902 236,680 2015 Dec 31 Sep 30 Jun 30 Mar 31 Total revenues $ 148,920 $ 150,955 $ 150,888 $ 153,197 Net income $ 3,535 $ 78,329 $ 30,684 $ 13,076 Net income attributable to common shareholders $ 644 $ 75,967 $ 28,321 $ 10,714 Net income per common share attributable to common shareholders – basic and diluted $ — $ 0.32 $ 0.12 $ 0.05 Weighted average number of common shares outstanding – basic 236,477 236,439 236,354 236,250 Weighted average number of common shares outstanding – diluted 236,479 236,553 236,356 236,253

Organization and Basis of Pre47

Organization and Basis of Presentation (Details) $ in Thousands	Oct. 29, 2015USD ($)	Dec. 31, 2016USD ($)propertysubsidiary	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Real Estate Properties [Line Items]
Number of wholly-owned subsidiaries jointly elected to be treated as a TRS | subsidiary		1
Gain on sales of investment properties | $		$ 129,707	$ 121,792	$ 42,851
Operating properties | Wholly-owned
Real Estate Properties [Line Items]
Number of real estate properties		157
Operating properties | Wholly-owned | Retail
Real Estate Properties [Line Items]
Number of real estate properties		156
Operating properties | Wholly-owned | Office
Real Estate Properties [Line Items]
Number of real estate properties		1
Redevelopment properties | Wholly-owned
Real Estate Properties [Line Items]
Number of real estate properties		2
Investment properties held for sale
Real Estate Properties [Line Items]
Number of real estate properties		2
Investment properties held for sale | Operating properties | Wholly-owned
Real Estate Properties [Line Items]
Number of real estate properties		2
Green Valley Crossing
Real Estate Properties [Line Items]
Gain on sales of investment properties | $	$ 3,904
Green Valley Crossing | Noncontrolling interest
Real Estate Properties [Line Items]
Gain on sales of investment properties | $	528
Distribution to noncontrolling interest | $	$ 2,022

Summary of Significant Accoun48

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)propertySegments	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Jan. 01, 2016USD ($)
Impairment charges	$ 20,376	$ 19,937	$ 72,203
Restricted cash and escrows	29,230	35,804
Balance in accumulated other comprehensive income (loss) relating to derivatives	722
Lease termination income	3,339	3,757	2,667
Percentage rental income	$ 4,082	$ 4,693	$ 5,229
Number of properties sold | property	46	26	24
Number of reportable segments | Segments	1
Cumulative effect of accounting change				$ 17
Intangible Assets, Amortization Expense, Fiscal Year Maturity
Total	$ 142,015	$ 138,766
Total	(105,290)	(114,834)
Acquired in-place lease value intangibles
Amortization expense	27,443	25,913	$ 28,977
Intangible Assets, Amortization Expense, Fiscal Year Maturity
2,017	22,627
2,018	17,509
2,019	12,473
2,020	10,324
2,021	9,022
Thereafter	50,578
Total	122,533
Acquired above market lease intangibles
Amortization expense	4,406	4,807	4,170
Intangible Assets, Amortization Expense, Fiscal Year Maturity
2,017	4,474
2,018	3,850
2,019	2,527
2,020	1,890
2,021	1,373
Thereafter	5,368
Total	19,482
Acquired below market lease intangibles
Amortization expense	7,396	8,428	6,246
Intangible Assets, Amortization Expense, Fiscal Year Maturity
2,017	(6,124)
2,018	(5,849)
2,019	(5,545)
2,020	(5,369)
2,021	(5,177)
Thereafter	(64,208)
Total	(92,272)
Acquired ground lease intangibles
Amortization expense	560	560	560
Intangible Assets, Amortization Expense, Fiscal Year Maturity
2,017	(560)
2,018	(560)
2,019	(560)
2,020	(560)
2,021	(560)
Thereafter	(10,218)
Total	(13,018)
Acquired lease intangible assets, net
Accumulated amortization of acquired lease intangible assets	296,309
Intangible Assets, Amortization Expense, Fiscal Year Maturity
2,017	27,101
2,018	21,359
2,019	15,000
2,020	12,214
2,021	10,395
Thereafter	55,946
Total	142,015
Acquired lease intangible liabilities, net
Accumulated amortization of acquired lease intangible liabilities	50,672
Intangible Assets, Amortization Expense, Fiscal Year Maturity
2,017	(6,684)
2,018	(6,409)
2,019	(6,105)
2,020	(5,929)
2,021	(5,737)
Thereafter	(74,426)
Total	$ (105,290)
Building and associated improvements
Estimated useful life (in years)	30 years
Site improvements and most other capital improvements
Estimated useful life (in years)	15 years
Capitalized internal leasing incentives
Capitalized internal leasing incentives	$ 423	474	0
Capitalized costs
Transaction costs related to asset acquisitions	725
Consolidated properties
Impairment charges	$ 20,376	$ 19,937	$ 72,203
Investment properties held for sale
Number of properties classified as held for sale | property	2
Redevelopment properties
Capitalized indirect project costs	$ 302
Expansions, pad developments and other significant improvements
Capitalized indirect project costs	$ 1,152
VIE
Number of properties acquired | property	3

Acquisitions _ Summary of Acqui

Acquisitions – Summary of Acquisitions (Details) $ in Thousands

Jan. 13, 2017USD ($)ft²

Nov. 22, 2016USD ($)ft²

Aug. 30, 2016USD ($)ft²

Jun. 15, 2016USD ($)ft²

May 05, 2016USD ($)ft²

Apr. 29, 2016USD ($)ft²

Apr. 01, 2016USD ($)ft²

Mar. 29, 2016USD ($)ft²

Jan. 15, 2016USD ($)ft²property

Nov. 13, 2015USD ($)ft²

Oct. 27, 2015USD ($)ft²

Aug. 27, 2015USD ($)ft²

Jul. 31, 2015USD ($)ft²

Jun. 10, 2015USD ($)ft²

May 04, 2015USD ($)ft²

Mar. 24, 2015USD ($)ft²

Feb. 19, 2015USD ($)ft²

Jan. 23, 2015USD ($)ft²

Jan. 08, 2015USD ($)ft²

Dec. 30, 2014USD ($)ft²

Nov. 20, 2014USD ($)ft²

Jun. 23, 2014USD ($)ft²

Jun. 05, 2014USD ($)ft²property

Feb. 27, 2014USD ($)ft²

Feb. 15, 2017USD ($)ft²

Sep. 30, 2017USD ($)

Dec. 31, 2016USD ($)aft²

Dec. 31, 2015USD ($)ft²

Dec. 31, 2014USD ($)ft²

Business Acquisition [Line Items]

Gain on extinguishment of other liabilities

$ 6,978

$ 0

$ 4,258

Gain on change in control of investment properties

0

$ 0

$ 24,158

Shoppes at Hagerstown

Business Acquisition [Line Items]

Square footage | ft²

113,000

Acquisition price

$ 27,055

Merrifield Town Center II

Business Acquisition [Line Items]

Square footage | ft²

138,000

Acquisition price

$ 45,676

Oak Brook Promenade

Business Acquisition [Line Items]

Square footage | ft²

183,200

Acquisition price

$ 65,954

The Shoppes at Union Hill

Business Acquisition [Line Items]

Square footage | ft²

91,700

Acquisition price

$ 63,060

Mortgage payable assumed

$ 15,971

$ 15,971

Fixed interest rate (as a percent)

3.75%

3.75%

Ashland & Roosevelt - Fee Interest

Business Acquisition [Line Items]

Square footage | ft²

0

Purchase price of asset acquisition

$ 13,850

Gain on extinguishment of other liabilities

$ 6,978

Tacoma South

Business Acquisition [Line Items]

Square footage | ft²

230,700

Acquisition price

$ 39,400

Eastside

Business Acquisition [Line Items]

Square footage | ft²

67,100

Acquisition price

$ 23,842

Woodinville Plaza - Anchor Space Improvements

Business Acquisition [Line Items]

Square footage | ft²

0

Purchase price of asset acquisition

$ 4,500

One Loudoun Downtown

Business Acquisition [Line Items]

Square footage | ft²

340,600

Purchase price of asset acquisition

$ 124,971

2016 acquisitions

Business Acquisition [Line Items]

Square footage | ft²

1,102,300

Acquisition price

$ 408,308

Mortgage payable assumed

$ 15,316

Shoppes at Hagerstown and Merrifield Town Center II

Business Acquisition [Line Items]

Number of properties acquired | property

2

Southlake Town Square

Business Acquisition [Line Items]

Acres of land | a

2.5

Bed Bath & Beyond Plaza

Business Acquisition [Line Items]

Gain on extinguishment of other liabilities

$ 4,258

Downtown Crown

Business Acquisition [Line Items]

Square footage | ft²

258,000

Acquisition price

$ 162,785

Merrifield Town Center

Business Acquisition [Line Items]

Square footage | ft²

84,900

Acquisition price

$ 56,500

Fort Evans Plaza II

Business Acquisition [Line Items]

Square footage | ft²

228,900

Acquisition price

$ 65,000

Cedar Park Town Center

Business Acquisition [Line Items]

Square footage | ft²

179,300

Acquisition price

$ 39,057

Parcel at Lake Worth Towne Crossing

Business Acquisition [Line Items]

Square footage | ft²

0

Purchase price of asset acquisition

$ 400

Tysons Corner

Business Acquisition [Line Items]

Square footage | ft²

37,700

Acquisition price

$ 31,556

Woodinville Plaza

Business Acquisition [Line Items]

Square footage | ft²

170,800

Acquisition price

$ 35,250

Outparcel at Southlake Town Square

Business Acquisition [Line Items]

Square footage | ft²

13,800

8,500

Acquisition price

$ 8,440

$ 6,369

Coal Creek Marketplace

Business Acquisition [Line Items]

Square footage | ft²

55,900

Acquisition price

$ 17,600

Outparcel at Royal Oaks Village II

Business Acquisition [Line Items]

Square footage | ft²

12,300

Acquisition price

$ 6,841

Towson Square

Business Acquisition [Line Items]

Square footage | ft²

138,200

Acquisition price

$ 39,707

2015 acquisitions

Business Acquisition [Line Items]

Square footage | ft²

1,179,800

Acquisition price

$ 463,136

Mortgage payable assumed

$ 0

Heritage Square

Business Acquisition [Line Items]

Square footage | ft²

53,100

Acquisition price

$ 18,022

Bed Bath & Beyond Plaza - Fee Interest

Business Acquisition [Line Items]

Square footage | ft²

0

Purchase price of asset acquisition

$ 10,350

MS Inland acquisitions

Business Acquisition [Line Items]

Square footage | ft²

1,194,800

Acquisition price

$ 292,500

Avondale Plaza

Business Acquisition [Line Items]

Square footage | ft²

39,000

Acquisition price

$ 15,070

Parcel at Lakewood Towne Center

Business Acquisition [Line Items]

Square footage | ft²

44,000

Acquisition price

$ 5,750

2014 acquisitions

Business Acquisition [Line Items]

Square footage | ft²

1,339,400

Acquisition price

$ 348,061

Mortgage payable assumed

146,485

Retail | Merrifield Town Center II

Business Acquisition [Line Items]

Square footage | ft²

76,000

Storage | Merrifield Town Center II

Business Acquisition [Line Items]

Square footage | ft²

62,000

MS Inland joint venture partner | MS Inland acquisitions

Business Acquisition [Line Items]

Acquisition price

$ 234,000

Ownership interest in joint venture acquired by the Company

80.00%

MS Inland | MS Inland acquisitions

Business Acquisition [Line Items]

Number of properties acquired | property

6

Cash consideration

$ 120,600

Gain on change in control of investment properties

$ 24,158

Equity interest before acquisition (as a percent)

20.00%

Ownership percentage - pro rata | Outparcel at Southlake Town Square

Business Acquisition [Line Items]

Acquisition price

$ 6,369

Ownership percentage - pro rata | Heritage Square

Business Acquisition [Line Items]

Acquisition price

18,022

Ownership percentage - pro rata | Bed Bath & Beyond Plaza - Fee Interest

Business Acquisition [Line Items]

Purchase price of asset acquisition

$ 10,350

Ownership percentage - pro rata | MS Inland acquisitions

Business Acquisition [Line Items]

Acquisition price

$ 234,000

Ownership percentage - pro rata | Avondale Plaza

Business Acquisition [Line Items]

Acquisition price

$ 15,070

Ownership percentage - pro rata | Parcel at Lakewood Towne Center

Business Acquisition [Line Items]

Acquisition price

$ 5,750

Ownership percentage - pro rata | 2014 acquisitions

Business Acquisition [Line Items]

Acquisition price

$ 289,561

Ownership percentage - 100% | MS Inland | MS Inland acquisitions

Business Acquisition [Line Items]

Acquisition price

292,500

Mortgage payable assumed

$ 141,698

Subsequent events | One Loudoun Downtown

Business Acquisition [Line Items]

Purchase price of asset acquisition

$ 35,500

Subsequent events | Main Street Promenade

Business Acquisition [Line Items]

Square footage | ft²

181,600

181,600

Cash consideration

$ 88,000

$ 88,000

Capitalized costs

Business Acquisition [Line Items]

Transaction costs related to asset acquisitions

$ 725

Capitalized costs | Southlake Town Square

Business Acquisition [Line Items]

Transaction costs related to asset acquisitions

$ 113

Acquisitions _ Acquisition Date

Acquisitions – Acquisition Date Fair Values (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Acquisition Date Fair Values
Transaction costs related to business combinations	$ 913	$ 1,591	$ 2,271
Total revenues	87,161	97,893	55,303
Net income attributable to common shareholders	22,283	18,334	6,733
2016 acquisitions
Acquisition Date Fair Values
Land	106,947
Building and other improvements	268,075
Acquired lease intangible assets	41,002
Acquired lease intangible liabilities	(8,258)
Mortgage payable, net	(15,316)
Net assets acquired	$ 392,450
Weighted average amortization period, acquired lease intangible assets	9 years
Weighted average amortization period, acquired lease intangible liabilities	18 years
Mortgage discount	$ (655)
2015 acquisitions
Acquisition Date Fair Values
Land		161,114
Building and other improvements		281,649
Acquired lease intangible assets		45,474
Acquired lease intangible liabilities		(25,101)
Mortgage payable, net		0
Net assets acquired		$ 463,136
Weighted average amortization period, acquired lease intangible assets		15 years
Weighted average amortization period, acquired lease intangible liabilities		21 years
2014 acquisitions
Acquisition Date Fair Values
Land			118,732
Building and other improvements			219,174
Acquired lease intangible assets			35,520
Acquired lease intangible liabilities			(20,578)
Mortgage payable, net			(146,485)
Net assets acquired			$ 206,363
Weighted average amortization period, acquired lease intangible assets			8 years
Weighted average amortization period, acquired lease intangible liabilities			16 years
Mortgage premium			$ 4,787
MS Inland acquisitions
Acquisition Date Fair Values
Percentage of net assets			100.00%

Acquisitions _ Condensed Pro Fo

Acquisitions – Condensed Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Pro Forma Information [Line Items]
Total revenues	$ 587,374	$ 627,300	$ 635,240
Net income	165,696	121,406	18,313
Net income attributable to common shareholders	$ 156,246	$ 111,428	$ 8,863
Earnings per common share – basic and diluted:
Net income per common share attributable to common shareholders	$ 0.66	$ 0.47	$ 0.04
Weighted average number of common shares outstanding – basic	236,651	236,380	236,184

Acquisitions _ Variable Interes

Acquisitions – Variable Interest Entities (Details) - VIE $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)agreements
Variable Interest Entity [Line Items]
Number of 1031 Exchange agreements | agreements	3
Oak Brook Promenade
Variable Interest Entity [Line Items]
Amount loaned to VIE for acquisition	$ 65,419
Tacoma South
Variable Interest Entity [Line Items]
Amount loaned to VIE for acquisition	39,215
Eastside
Variable Interest Entity [Line Items]
Amount loaned to VIE for acquisition	$ 23,522

Dispositions _ Summary of Dispo

Dispositions – Summary of Dispositions (Details) $ in Thousands

Dec. 30, 2016USD ($)ft²

Dec. 29, 2016USD ($)ft²

Dec. 22, 2016USD ($)ft²

Dec. 16, 2016USD ($)ft²

Dec. 15, 2016USD ($)ft²

Dec. 08, 2016USD ($)ft²

Nov. 23, 2016USD ($)ft²property

Nov. 09, 2016USD ($)ft²

Sep. 09, 2016USD ($)ft²

Aug. 22, 2016USD ($)ft²

Aug. 18, 2016USD ($)ft²

Aug. 12, 2016USD ($)ft²

Aug. 05, 2016USD ($)ft²

Aug. 04, 2016USD ($)ft²

Jul. 29, 2016USD ($)ft²

Jul. 27, 2016USD ($)ft²

Jul. 21, 2016USD ($)ft²

Jul. 08, 2016USD ($)ft²

Jun. 23, 2016USD ($)ft²property

Jun. 15, 2016USD ($)ft²

Jun. 02, 2016USD ($)ft²

Apr. 20, 2016USD ($)ft²

Mar. 30, 2016USD ($)ft²property

Feb. 10, 2016USD ($)ft²

Feb. 01, 2016USD ($)ft²

Dec. 31, 2015USD ($)ft²

Dec. 18, 2015USD ($)ft²

Dec. 09, 2015USD ($)ft²

Dec. 02, 2015USD ($)ft²

Nov. 12, 2015USD ($)ft²

Oct. 29, 2015USD ($)ft²

Sep. 29, 2015USD ($)ft²

Sep. 15, 2015USD ($)ft²

Aug. 31, 2015USD ($)ft²

Aug. 24, 2015USD ($)ft²

Aug. 06, 2015USD ($)ft²

Jul. 30, 2015USD ($)ft²

Jul. 28, 2015USD ($)ft²

Jul. 17, 2015USD ($)ft²

Jun. 17, 2015USD ($)ft²

Jun. 05, 2015USD ($)ft²

Jun. 04, 2015USD ($)ft²

May 15, 2015USD ($)ft²

Apr. 30, 2015USD ($)ft²

Apr. 07, 2015USD ($)ft²

Feb. 27, 2015USD ($)ft²

Jan. 20, 2015USD ($)ft²

Dec. 31, 2016USD ($)ft²property

Dec. 31, 2015USD ($)ft²property

Dec. 31, 2014USD ($)property

Feb. 15, 2017USD ($)ft²

Dispositions

Aggregate proceeds, net

$ 450,765

$ 505,824

$ 315,400

Gain

$ 129,707

$ 121,792

$ 42,851

Number of properties sold | property

46

26

24

Mortgage obligation

$ 1,123,136

$ 769,184

$ 1,123,136

Loan obligation assumed by the buyer

15,316

0

$ 146,485

Gain on extinguishment of debt

13,653

$ 0

0

The Gateway

Dispositions

Square footage | ft²

623,200

Consideration

$ 75,000

Net payment for disposition

(795)

Gain

3,868

Mortgage obligation

94,353

94,353

Loan obligation assumed by the buyer

75,000

75,000

Gain on extinguishment of debt

$ 13,653

$ 13,653

Stateline Station

Dispositions

Square footage | ft²

142,600

Consideration

$ 17,500

Aggregate proceeds, net

17,210

Gain

$ 4,253

Six Property Portfolio

Dispositions

Square footage | ft²

230,400

Consideration

$ 35,413

Aggregate proceeds, net

34,986

Gain

$ 13,618

Number of properties sold | property

6

CVS Pharmacy - Oklahoma City

Dispositions

Square footage | ft²

10,900

Consideration

$ 4,676

Aggregate proceeds, net

4,608

Gain

$ 1,764

Rite Aid Store (Eckerd) - Canandaigua & Tim Horton Donut Shop

Dispositions

Square footage | ft²

16,600

Consideration

$ 5,400

Aggregate proceeds, net

5,333

Gain

$ 1,444

Academy Sports - Midland

Dispositions

Square footage | ft²

61,200

Consideration

$ 5,541

Aggregate proceeds, net

5,399

Gain

$ 2,220

Four Rite Aid Portfolio

Dispositions

Square footage | ft²

45,400

Consideration

$ 15,934

Aggregate proceeds, net

14,646

Gain

$ 2,287

Number of properties sold | property

4

Broadway Shopping Center

Dispositions

Square footage | ft²

190,300

Consideration

$ 20,500

Aggregate proceeds, net

20,103

Gain

$ 7,958

Mid-Hudson Center

Dispositions

Square footage | ft²

235,600

Consideration

$ 27,500

Aggregate proceeds, net

25,615

Gain

$ 0

Rite Aid Store (Eckerd), Main St. - Buffalo

Dispositions

Square footage | ft²

10,900

Consideration

$ 3,388

Aggregate proceeds, net

3,296

Gain

$ 344

Rite Aid Store (Eckerd) - Lancaster

Dispositions

Square footage | ft²

10,900

Consideration

$ 3,425

Aggregate proceeds, net

3,349

Gain

$ 625

Alison's Corner

Dispositions

Square footage | ft²

55,100

Consideration

$ 7,850

Aggregate proceeds, net

7,559

Gain

$ 3,334

Rite Aid Store (Eckerd) - Lake Ave.

Dispositions

Square footage | ft²

13,200

Consideration

$ 5,400

Aggregate proceeds, net

5,334

Gain

$ 907

Maple Tree Place

Dispositions

Square footage | ft²

489,000

Consideration

$ 90,000

Aggregate proceeds, net

87,047

Gain

$ 15,566

CVS Pharmacy - Burleson

Dispositions

Square footage | ft²

10,900

Consideration

$ 4,190

Aggregate proceeds, net

4,102

Gain

$ 1,425

Mitchell Ranch Plaza

Dispositions

Square footage | ft²

199,600

Consideration

$ 55,625

Aggregate proceeds, net

54,305

Gain

$ 33,612

Rite Aid Store (Eckerd), E. Main St. - Batavia

Dispositions

Square footage | ft²

13,800

Consideration

$ 5,050

Aggregate proceeds, net

4,924

Gain

$ 1,249

Rite Aid Store (Eckerd) - Lockport

Dispositions

Square footage | ft²

13,800

Consideration

$ 4,690

Aggregate proceeds, net

4,415

Gain

$ 753

Rite Aid Store (Eckerd), Ferry St. - Buffalo

Dispositions

Square footage | ft²

10,900

Consideration

$ 3,600

Aggregate proceeds, net

3,370

Gain

$ 612

Walgreens - Northwoods

Dispositions

Square footage | ft²

16,300

Consideration

$ 6,450

Aggregate proceeds, net

5,793

Gain

$ 2,199

Ten Rite Aid Portfolio

Dispositions

Square footage | ft²

119,700

Consideration

$ 30,000

Aggregate proceeds, net

29,380

Gain

$ 251

Number of properties sold | property

10

Vail Ranch Plaza

Dispositions

Square footage | ft²

101,800

Consideration

$ 27,450

Aggregate proceeds, net

27,160

Gain

$ 11,247

Pacheco Pass Phase I & II

Dispositions

Square footage | ft²

194,300

Consideration

$ 41,500

Aggregate proceeds, net

39,549

Gain

$ 4,758

South Billings Center

Dispositions

Square footage | ft²

0

Consideration

$ 2,250

Aggregate proceeds, net

2,157

Gain

$ 0

Rite Aid Store (Eckerd) - Colesville

Dispositions

Square footage | ft²

13,400

Consideration

$ 7,700

Aggregate proceeds, net

7,444

Gain

$ 1,893

Commons at Royal Palm

Dispositions

Square footage | ft²

156,500

Consideration

$ 23,700

Aggregate proceeds, net

21,460

Gain

$ 6,553

CVS Pharmacy (Eckerd) - Edmond & CVS Pharmacy (Eckerd) - Norman

Dispositions

Square footage | ft²

27,600

Consideration

$ 10,630

Aggregate proceeds, net

10,467

Gain

$ 5,069

2016 dispositions

Dispositions

Square footage | ft²

3,013,900

Consideration

$ 540,362

Aggregate proceeds, net

448,216

Gain

127,809

Mortgages payable repaid or defeased

10,695

Outparcel at Beachway Plaza

Dispositions

Consideration

2,639

Aggregate proceeds, net

2,549

Gain

$ 1,898

Aon Hewitt East Campus

Dispositions

Square footage | ft²

343,000

Consideration

$ 17,233

Aggregate proceeds, net

16,495

Gain

$ 0

Promenade at Red Cliff

Dispositions

Square footage | ft²

94,500

Consideration

$ 19,050

Aggregate proceeds, net

18,848

Gain

$ 4,572

Hartford Insurance Building

Dispositions

Square footage | ft²

97,400

Consideration

$ 6,015

Aggregate proceeds, net

5,663

Gain

$ 860

Rasmussen College

Dispositions

Square footage | ft²

26,700

Consideration

$ 4,800

Aggregate proceeds, net

4,449

Gain

$ 1,334

Mountain View Plaza

Dispositions

Square footage | ft²

162,000

Consideration

$ 28,500

Aggregate proceeds, net

27,949

Gain

$ 10,184

Massillon Commons

Dispositions

Square footage | ft²

245,900

Consideration

$ 12,520

Aggregate proceeds, net

12,145

Gain

$ 0

Citizen's Property Insurance Building

Dispositions

Square footage | ft²

59,800

Consideration

$ 3,650

Aggregate proceeds, net

3,368

Gain

$ 440

Pine Ridge Plaza

Dispositions

Square footage | ft²

236,500

Consideration

$ 33,200

Aggregate proceeds, net

31,858

Gain

$ 12,938

Bison Hollow

Dispositions

Square footage | ft²

134,800

Consideration

$ 18,800

Aggregate proceeds, net

18,657

Gain

$ 4,061

The Village at Quail Springs

Dispositions

Square footage | ft²

100,400

Consideration

$ 11,350

Aggregate proceeds, net

11,267

Gain

$ 3,824

Greensburg Commons

Dispositions

Square footage | ft²

272,500

Consideration

$ 18,400

Aggregate proceeds, net

18,283

Gain

$ 2,810

Arvada Connection and Arvada Marketplace

Dispositions

Square footage | ft²

367,500

Consideration

$ 54,900

Aggregate proceeds, net

53,159

Gain

$ 20,208

Traveler's Office Building

Dispositions

Square footage | ft²

50,800

Consideration

$ 4,841

Aggregate proceeds, net

4,643

Gain

$ 0

Shaw's Supermarket

Dispositions

Square footage | ft²

65,700

Consideration

$ 3,000

Aggregate proceeds, net

2,769

Gain

$ 0

Harvest Towne Center

Dispositions

Square footage | ft²

39,700

Consideration

$ 7,800

Aggregate proceeds, net

7,381

Gain

$ 1,217

Trenton Crossing & McAllen Shopping Center

Dispositions

Square footage | ft²

265,900

Consideration

$ 39,295

Aggregate proceeds, net

38,410

Gain

$ 13,760

The Shops at Boardwalk

Dispositions

Square footage | ft²

122,400

Consideration

$ 27,400

Aggregate proceeds, net

26,634

Gain

$ 3,146

Best on the Boulevard

Dispositions

Square footage | ft²

204,400

Consideration

$ 42,500

Aggregate proceeds, net

41,542

Gain

$ 15,932

Montecito Crossing

Dispositions

Square footage | ft²

179,700

Consideration

$ 52,200

Aggregate proceeds, net

51,415

Gain

$ 17,928

Green Valley Crossing

Dispositions

Square footage | ft²

96,400

Consideration

$ 35,000

Aggregate proceeds, net

34,200

Gain

3,904

Lake Mead Crossing

Dispositions

Square footage | ft²

219,900

Consideration

$ 42,565

Aggregate proceeds, net

41,930

Gain

$ 507

Golfsmith

Dispositions

Square footage | ft²

14,900

Consideration

$ 4,475

Aggregate proceeds, net

4,298

Gain

$ 1,010

Wal-Mart - Turlock

Dispositions

Square footage | ft²

61,000

Consideration

$ 6,200

Aggregate proceeds, net

5,996

Gain

$ 3,157

Southgate Plaza

Dispositions

Square footage | ft²

86,100

Consideration

$ 7,000

Aggregate proceeds, net

6,665

Gain

$ 0

Bellevue Mall

Dispositions

Square footage | ft²

369,300

369,300

Consideration

$ 15,750

$ 15,750

Aggregate proceeds, net

17,500

Gain

$ 0

2015 dispositions

Dispositions

Square footage | ft²

3,917,200

3,917,200

Consideration

$ 516,444

$ 516,444

Aggregate proceeds, net

505,524

Gain

121,792

Mortgages payable repaid or defeased

121,605

Condemnation proceeds

$ 300

2014 dispositions

Dispositions

Mortgages payable repaid or defeased

$ 128,947

Noncontrolling interest | Green Valley Crossing

Dispositions

Gain

$ 528

Subsequent events | Rite Aid Store (Eckerd), Culver Rd.

Dispositions

Square footage | ft²

10,900

Consideration

$ 500

Dispositions _ Assets and Liabi

Dispositions – Assets and Liabilities of Investment Properties Held for Sale (Details) $ in Thousands	Dec. 31, 2016USD ($)ft²	Dec. 31, 2015USD ($)
Assets
Assets associated with investment properties held for sale	$ 30,827	$ 0
Liabilities
Liabilities associated with investment properties held for sale, net	864	$ 0
Investment properties held for sale
Assets
Land, building and other improvements	45,395
Accumulated depreciation	(15,769)
Net investment properties	29,626
Other assets	1,201
Assets associated with investment properties held for sale	30,827
Liabilities
Other liabilities	864
Liabilities associated with investment properties held for sale, net	$ 864
Century III Plaza
Investment properties held for sale
Square footage | ft²	284,100
CVS Pharmacy - Sylacauga
Investment properties held for sale
Square footage | ft²	10,100

Equity Compensation Plans (Deta

Equity Compensation Plans (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Equity Instruments, Nonvested, Number of Shares [Roll Forward]
Balance at the beginning of the period (in shares)		788	396
Balance at the end of the period (in shares)	542	542	788	396
Restricted shares
Share-based Compensation Arrangement [Line Items]
Additional compensation expense			$ 2,159
Number of restricted shares in which vesting was accelerated			194
Fair value of restricted shares vested		$ 7,596	$ 6,188	$ 840
Equity Instruments, Nonvested, Number of Shares [Roll Forward]
Balance at the beginning of the period (in shares)		788	396	152
Shares/RSUs granted (in shares)		274	801	303
Shares vested (in shares)		(510)	(405)	(58)
Shares/RSUs forfeited (in shares)		(10)	(4)	(1)
Balance at the end of the period (in shares)	542	542	788	396
Equity Instruments, Nonvested, Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)		$ 15.52	$ 14.26	$ 15.11
Shares/RSUs granted (in dollars per share)		14.76	15.82	13.89
Shares vested (in dollars per share)		15.38	14.89	14.50
Shares/RSUs forfeited (in dollars per share)		14.70	16.01	15.61
Balance at the end of the period (in dollars per share)	$ 15.28	$ 15.28	$ 15.52	$ 14.26
Compensation Cost Not Yet Recognized
Total unrecognized compensation expense	$ 2,674	$ 2,674
RSUs
Share-based Compensation Arrangement [Line Items]
Vesting period for shares granted (in years)		1 year
Performance period (in years)		3 years
Conversion rate of RSUs into shares of common stock (as a percent)		33.00%
Conversion rate of RSUs into restricted shares (as a percent)		67.00%
Equity Instruments, Nonvested, Number of Shares [Roll Forward]
Balance at the beginning of the period (in shares)		174	0
Shares/RSUs granted (in shares)		246	180
Shares/RSUs forfeited (in shares)		(29)	(6)
Balance at the end of the period (in shares)	391	391	174	0
Equity Instruments, Nonvested, Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)		$ 14.20	$ 0
Shares/RSUs granted (in dollars per share)		13.85	14.19
Shares/RSUs forfeited (in dollars per share)		13.56	14.10
Balance at the end of the period (in dollars per share)	$ 14.02	$ 14.02	$ 14.20	$ 0
Compensation Cost Not Yet Recognized
Total unrecognized compensation expense	$ 3,471	$ 3,471
Restricted shares and RSUs
Share-based Compensation Arrangement [Line Items]
Compensation expense		7,209	$ 10,755	$ 3,417
Stock options
Share-based Compensation Arrangement [Line Items]
Compensation expense		$ 0	$ 0	$ 3
Number of options granted	84
Number of options expired		1	1
Number of options forfeited		10	10
Number of options exercised		2
Number of options outstanding	41	41	53	64
Minimum | Restricted shares
Share-based Compensation Arrangement [Line Items]
Vesting period for shares granted (in years)		5 months	5 months	1 year
Minimum | RSUs
Share-based Compensation Arrangement [Line Items]
Conversion rate of RSUs if threshold met (as a percent)		50.00%
Maximum | Restricted shares
Share-based Compensation Arrangement [Line Items]
Vesting period for shares granted (in years)		3 years 11 months	3 years 5 months	3 years
Maximum | RSUs
Share-based Compensation Arrangement [Line Items]
Conversion rate of RSUs if threshold met (as a percent)		200.00%
Weighted average | Restricted shares
Compensation Cost Not Yet Recognized
Unrecognized compensation expense, period for recognition (in years)	1 year 4 months
Weighted average | RSUs
Share-based Compensation Arrangement [Line Items]
Risk-free interest rate (as a percent)		0.89%	0.80%
Common stock dividend yield (as a percent)		4.59%	4.26%
Compensation Cost Not Yet Recognized
Unrecognized compensation expense, period for recognition (in years)	2 years 5 months

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leases [Abstract]
Taxes remitted to governmental authorities and reimbursed by tenants	$ 1,986	$ 2,071	$ 1,985
Remaining lease term, low end of range	1 year
Remaining lease term, high end of range	66 years
Operating Leases, Future Minimum Payments Receivable
Minimum lease payments, 2017	$ 423,207
Minimum lease payments, 2018	382,938
Minimum lease payments, 2019	321,179
Minimum lease payments, 2020	262,571
Minimum lease payments, 2021	213,514
Minimum lease payments, thereafter	720,075
Total minimum lease payments	2,323,484
Operating Leases, Rent Expense
Ground lease rent expense	10,464	11,461	11,676
Office rent expense	1,317	1,246	1,210
Straight-line ground rent expense	3,253	$ 3,722	$ 3,889
Operating Leases, Future Minimum Payments Due
Minimum lease obligations, 2017	7,853
Minimum lease obligations, 2018	7,842
Minimum lease obligations, 2019	8,157
Minimum lease obligations, 2020	8,318
Minimum lease obligations, 2021	8,525
Minimum lease obligations, thereafter	376,939
Total minimum lease obligations	$ 417,634

Mortgages Payable _ Summary (De

Mortgages Payable – Summary (Details) $ in Thousands	Dec. 31, 2016USD ($)propertyloan	Feb. 01, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)propertyloan	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Feb. 15, 2017USD ($)property	Apr. 01, 2016USD ($)
Debt Instrument [Line Items]
Fixed rate mortgages payable	$ 2,009,395			$ 2,009,395
Weighted average interest rate (as a percent)	4.44%			4.44%
Mortgage obligation	$ 769,184		$ 1,123,136	$ 769,184	$ 1,123,136
Loan obligation assumed by the buyer				15,316	0	$ 146,485
Gain on extinguishment of debt				13,653	0	$ 0
Mortgages payable
Debt Instrument [Line Items]
Premium, net of accumulated amortization	1,437		1,865	1,437	1,865
Discount, net of accumulated amortization	(622)		(1)	(622)	(1)
Capitalized loan fees, net of accumulated amortization	(5,026)		(7,233)	(5,026)	(7,233)
Mortgages payable, net	769,184		1,123,136	769,184	1,123,136
Variable rate debt swapped to fixed rate debt			7,910		7,910
Amount of mortgages payable repaid or defeased				263,548
Scheduled principal payments related to amortizing loans	13,180			13,180
IW JV 2009, LLC
Debt Instrument [Line Items]
Cross-collateralized mortgages payable balance	$ 379,435			$ 379,435
Number of properties in cross-collateralized mortgage | property	45			45
Fixed rate debt
Debt Instrument [Line Items]
Fixed rate mortgages payable	$ 1,723,395			$ 1,723,395
Weighted average interest rate (as a percent)	4.82%			4.82%
Fixed rate debt | Mortgages payable
Debt Instrument [Line Items]
Fixed rate mortgages payable	$ 773,395		$ 1,128,505	$ 773,395	$ 1,128,505
Weighted average interest rate (as a percent)	6.31%		6.08%	6.31%	6.08%
Weighted average years to maturity	4 years 2 months 15 days		3 years 11 months
Minimum | Fixed rate debt | Mortgages payable
Debt Instrument [Line Items]
Fixed interest rate (as a percent)	3.75%		3.35%	3.75%	3.35%
Maximum | Fixed rate debt | Mortgages payable
Debt Instrument [Line Items]
Fixed interest rate (as a percent)	8.00%		8.00%	8.00%	8.00%
Weighted average | Mortgages payable
Debt Instrument [Line Items]
Fixed interest rate (as a percent)	5.09%			5.09%
Debt repaid | Mortgages payable
Debt Instrument [Line Items]
Variable rate debt swapped to fixed rate debt	$ 7,750			$ 7,750
Number of mortgages with an interest rate swap | loan	1			1
The Gateway
Debt Instrument [Line Items]
Fixed interest rate (as a percent)	6.57%			6.57%
Mortgage obligation	$ 94,353	$ 94,353		$ 94,353
Loan obligation assumed by the buyer		75,000		75,000
Gain on extinguishment of debt		$ 13,653		$ 13,653
The Shoppes at Union Hill
Debt Instrument [Line Items]
Fixed interest rate (as a percent)	3.75%			3.75%				3.75%
Mortgage payable assumed	$ 15,971			$ 15,971				$ 15,971
Subsequent events | IW JV 2009, LLC
Debt Instrument [Line Items]
Mortgage obligation							$ 379,435
Number of properties no longer securing cross-collateralized mortgage | property							45

Mortgages Payable _ Debt Maturi

Mortgages Payable – Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Nov. 22, 2016	Dec. 31, 2015	Feb. 15, 2017
Long-term Debt, Fiscal Year Maturity
2,017	$ 35,023
2,018	211,463
2,019	433,982
2,020	90,334
2,021	373,249
Thereafter	865,344
Total	$ 2,009,395
Long-term Debt, Weighted Average Interest Rate
2,017	4.83%
2,018	2.45%
2,019	7.49%
2,020	2.24%
2,021	2.73%
Thereafter	4.36%
Total	4.44%
Mortgages payable
Debt Instrument [Line Items]
Premium, net of accumulated amortization	$ 1,437		$ 1,865
Discount, net of accumulated amortization	(622)		(1)
Variable rate debt swapped to fixed rate debt			7,910
Capitalized loan fees, net of accumulated amortization	(5,026)		(7,233)
Unsecured notes payable
Debt Instrument [Line Items]
Discount, net of accumulated amortization	(971)		(1,090)
Capitalized loan fees, net of accumulated amortization	$ (3,886)		$ (3,334)
Consolidated indebtedness
Debt Instrument [Line Items]
Weighted average years to maturity	5 years 4 months
Capitalized loan fees, net of accumulated amortization	$ (11,314)
Term Loan Due 2023
Debt Instrument [Line Items]
Amount of debt issuance		$ 200,000
Fixed rate debt
Long-term Debt, Fiscal Year Maturity
2,017	35,023
2,018	11,463
2,019	433,982
2,020	4,334
2,021	373,249
Thereafter	865,344
Total	$ 1,723,395
Long-term Debt, Weighted Average Interest Rate
2,017	4.83%
2,018	6.51%
2,019	7.49%
2,020	4.58%
2,021	2.73%
Thereafter	4.36%
Total	4.82%
Fixed rate debt | Mortgages payable
Debt Instrument [Line Items]
Weighted average years to maturity	4 years 2 months 15 days		3 years 11 months
Long-term Debt, Fiscal Year Maturity
2,017	$ 35,023
2,018	11,463
2,019	433,982
2,020	4,334
2,021	23,249
Thereafter	265,344
Total	$ 773,395		$ 1,128,505
Long-term Debt, Weighted Average Interest Rate
Total	6.31%		6.08%
Fixed rate debt | Unsecured credit facility
Long-term Debt, Fiscal Year Maturity
2,017	$ 0
2,018	0
2,019	0
2,020	0
2,021	250,000
Thereafter	0
Total	250,000
Fixed rate debt | Unsecured notes payable
Long-term Debt, Fiscal Year Maturity
2,017	0
2,018	0
2,019	0
2,020	0
2,021	100,000
Thereafter	600,000
Total	$ 700,000
Variable rate debt
Long-term Debt, Weighted Average Interest Rate
2,017	0.00%
2,018	2.22%
2,019	0.00%
2,020	2.12%
2,021	0.00%
Thereafter	0.00%
Total	2.19%
Variable rate debt | Unsecured credit facility
Long-term Debt, Fiscal Year Maturity
2,017	$ 0
2,018	200,000
2,019	0
2,020	86,000
2,021	0
Thereafter	0
Total	286,000
$100,000 and $150,000 Interest Rate Swaps Maturing in 2017
Debt Instrument [Line Items]
Variable rate debt swapped to fixed rate debt	$ 250,000
LIBOR | Term Loan Due 2023
Debt Instrument [Line Items]
Reference rate for variable interest rate		LIBOR
LIBOR | $100,000 and $150,000 Interest Rate Swaps Maturing in 2017
Debt Instrument [Line Items]
Reference rate for variable interest rate	one-month floating rate LIBOR
Weighted average | $100,000 and $150,000 Interest Rate Swaps Maturing in 2017
Debt Instrument [Line Items]
Fixed interest rate (as a percent)	0.6677%
Subsequent events | Term Loan Due 2023
Debt Instrument [Line Items]
Amount of debt issuance				$ 200,000

Unsecured Notes Payable (Detail

Unsecured Notes Payable (Details) - USD ($) $ in Thousands	Dec. 28, 2016	Sep. 30, 2016	Mar. 12, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2014
Debt Instrument [Line Items]
Principal balance				$ 695,143	$ 495,576
Senior Notes
Debt Instrument [Line Items]
Principal balance				700,000	500,000
Discount, net of accumulated amortization				(971)	(1,090)
Capitalized loan fees, net of accumulated amortization				$ (3,886)	$ (3,334)
Weighted average interest rate (as a percent)				4.19%	4.20%
Senior Notes | 4.12% Notes Due 2021
Debt Instrument [Line Items]
Principal balance				$ 100,000	$ 100,000
Stated interest rate (as a percent)				4.12%	4.12%	4.12%
Amount of debt issuance						$ 100,000
Senior Notes | 4.58% Notes Due 2024
Debt Instrument [Line Items]
Principal balance				$ 150,000	$ 150,000
Stated interest rate (as a percent)				4.58%	4.58%	4.58%
Amount of debt issuance						$ 150,000
Senior Notes | 4.00% Notes Due 2025
Debt Instrument [Line Items]
Principal balance				$ 250,000	$ 250,000
Stated interest rate (as a percent)			4.00%	4.00%	4.00%
Amount of debt issuance			$ 250,000
Percentage of principal amount (as a percent)			99.526%
Effective interest rate (as a percent)			4.058%
Senior Notes | 4.08% Notes Due 2026
Debt Instrument [Line Items]
Principal balance				$ 100,000	$ 0
Stated interest rate (as a percent)		4.08%		4.08%	0.00%
Amount of debt issuance		$ 100,000
Term of debt issuance		10 years
Senior Notes | 4.24% Notes Due 2028
Debt Instrument [Line Items]
Principal balance				$ 100,000	$ 0
Stated interest rate (as a percent)	4.24%			4.24%	0.00%
Amount of debt issuance	$ 100,000
Term of debt issuance	12 years
Senior Notes | Notes Due 2021 and 2024
Debt Instrument [Line Items]
Amount of debt issuance						$ 250,000

Unsecured Term Loans and Revo60

Unsecured Term Loans and Revolving Line of Credit (Details) $ in Thousands	Dec. 31, 2016USD ($)	Nov. 22, 2016USD ($)	Jan. 06, 2016USD ($)extension_options	Dec. 31, 2015USD ($)	Dec. 31, 2014rating_agency
Line of Credit Facility [Line Items]
Amount borrowed	$ 86,000			$ 100,000
Unsecured credit facility
Line of Credit Facility [Line Items]
Aggregate borrowing capacity				1,000,000
Amount borrowed	$ 533,598			547,526
Unsecured credit facility | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Aggregate borrowing capacity			$ 1,200,000
Additional borrowing capacity			400,000
Maximum borrowing capacity			1,600,000
Unsecured revolving line of credit
Line of Credit Facility [Line Items]
Aggregate borrowing capacity				550,000
Unsecured revolving line of credit | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Aggregate borrowing capacity			$ 750,000
Number of extension options | extension_options			2
Revolving line of credit, period of extension of maturity (in years)			6 months
Revolving line of credit, extension fee as a percentage of commitment amount			0.075%
$250,000 term loan
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)	1.30%
$250,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Principal amount			$ 250,000
$200,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Principal amount			$ 200,000
Number of extension options | extension_options			2
Term loan, period of extension of maturity (in years)			1 year
Term loan, extension fee as a percentage of amount outstanding			0.15%
Unsecured term loans
Line of Credit Facility [Line Items]
Principal amount				$ 450,000
Variable interest rate spread (as a percent)				1.45%
Amount borrowed	$ 450,000			$ 450,000
Capitalized loan fees, net of accumulated amortization	(2,402)			(2,474)
Term loans, net	447,598			447,526
Fixed rate debt | $250,000 term loan
Line of Credit Facility [Line Items]
Amount borrowed	$ 250,000
Interest rate (as a percent)	1.97%
Fixed rate debt | Unsecured term loans
Line of Credit Facility [Line Items]
Amount borrowed				$ 300,000
Interest rate (as a percent)				1.99%
Variable rate debt | Unsecured revolving line of credit
Line of Credit Facility [Line Items]
Amount borrowed	$ 86,000			$ 100,000
Interest rate (as a percent)	2.12%			1.93%
Variable rate debt | $200,000 term loan
Line of Credit Facility [Line Items]
Amount borrowed	$ 200,000
Interest rate (as a percent)	2.22%
Variable rate debt | Unsecured term loans
Line of Credit Facility [Line Items]
Amount borrowed				$ 150,000
Interest rate (as a percent)				1.88%
Term Loan Due 2023
Line of Credit Facility [Line Items]
Principal amount		$ 200,000
Term of debt issuance		7 years
Additional borrowing capacity		$ 100,000
Maximum borrowing capacity		$ 300,000
Investment grade rated
Line of Credit Facility [Line Items]
Number of rating agencies | rating_agency					2
Minimum | Unsecured credit facility
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)				1.45%
Minimum | Unsecured revolving line of credit | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Quarterly unused fees (as a percent)			0.15%
Minimum | $250,000 term loan
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)	1.30%
Minimum | Unsecured term loans
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)				1.45%
Minimum | Investment grade rated | Unsecured revolving line of credit | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Facility fee (as a percent)			0.125%
Maximum | Unsecured credit facility
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)				2.05%
Maximum | Unsecured revolving line of credit | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Quarterly unused fees (as a percent)			0.25%
Maximum | $250,000 term loan
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)	2.20%
Maximum | Unsecured term loans
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)				2.00%
Maximum | Investment grade rated | Unsecured revolving line of credit | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Facility fee (as a percent)			0.30%
Weighted average | Unsecured credit facility
Line of Credit Facility [Line Items]
Interest rate (as a percent)	2.09%			1.95%
LIBOR | Unsecured credit facility
Line of Credit Facility [Line Items]
Reference rate for variable interest rate			LIBOR	LIBOR
LIBOR | Term Loan Due 2023
Line of Credit Facility [Line Items]
Reference rate for variable interest rate		LIBOR
LIBOR | Minimum | Unsecured revolving line of credit | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			1.35%
LIBOR | Minimum | $250,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			1.30%
LIBOR | Minimum | $200,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			1.45%
LIBOR | Minimum | Term Loan Due 2023
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)		1.70%
LIBOR | Minimum | Investment grade rated | Unsecured revolving line of credit | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			0.85%
LIBOR | Minimum | Investment grade rated | $250,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			0.90%
LIBOR | Minimum | Investment grade rated | $200,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			1.05%
LIBOR | Maximum | Unsecured revolving line of credit | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			2.25%
LIBOR | Maximum | $250,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			2.20%
LIBOR | Maximum | $200,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			2.20%
LIBOR | Maximum | Term Loan Due 2023
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)		2.55%
LIBOR | Maximum | Investment grade rated | Unsecured revolving line of credit | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			1.55%
LIBOR | Maximum | Investment grade rated | $250,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			1.75%
LIBOR | Maximum | Investment grade rated | $200,000 term loan | KeyBank and Wells Fargo Syndicate
Line of Credit Facility [Line Items]
Variable interest rate spread (as a percent)			2.05%
$100,000 and $150,000 Interest Rate Swaps Maturing in 2017
Line of Credit Facility [Line Items]
Variable rate debt swapped to fixed rate debt	$ 250,000
$100,000 and $150,000 Interest Rate Swaps Maturing in 2017 | Weighted average
Line of Credit Facility [Line Items]
Fixed interest rate (as a percent)	0.6677%
$100,000 and $150,000 Interest Rate Swaps Maturing in 2017 | LIBOR
Line of Credit Facility [Line Items]
Reference rate for variable interest rate	one-month floating rate LIBOR
$300,000 Interest Rate Swap Maturing in 2016
Line of Credit Facility [Line Items]
Variable rate debt swapped to fixed rate debt				$ 300,000
Fixed interest rate (as a percent)				0.53875%

Derivatives _ Schedule of Deriv

Derivatives – Schedule of Derivative Instruments (Details) $ in Thousands	Dec. 31, 2016USD ($)instrument	Dec. 31, 2016USD ($)instrument	May 16, 2016USD ($)	Mar. 01, 2016USD ($)	Feb. 24, 2016USD ($)	Dec. 31, 2015USD ($)instrument
$100,000 and $150,000 Interest Rate Swaps Maturing in 2017
Derivative [Line Items]
Notional	$ 250,000	$ 250,000
$300,000 Interest Rate Swap Maturing in 2016
Derivative [Line Items]
Notional						$ 300,000
Fixed interest rate (as a percent)						0.53875%
Cash flow hedges | Interest rate swaps
Derivative [Line Items]
Number of instruments | instrument	2	2				2
Amount of gain (loss) expected to be reclassified over the next 12 months	$ 722
Notional	$ 250,000	$ 250,000				$ 307,910
Cash flow hedges | $100,000 and $150,000 Interest Rate Swaps Maturing in 2017
Derivative [Line Items]
Number of instruments | instrument	2	2
Cash flow hedges | $100,000 Interest Rate Swap Maturing in 2017
Derivative [Line Items]
Notional				$ 100,000
Fixed interest rate (as a percent)				0.6591%
Cash flow hedges | $150,000 Interest Rate Swap Maturing in 2017
Derivative [Line Items]
Notional			$ 150,000
Fixed interest rate (as a percent)			0.6735%
Cash flow hedges | $300,000 Interest Rate Swap Maturing in 2016
Derivative [Line Items]
Notional					$ 300,000
LIBOR | $100,000 and $150,000 Interest Rate Swaps Maturing in 2017
Derivative [Line Items]
Reference rate for variable interest rate	one-month floating rate LIBOR
LIBOR | Cash flow hedges | $100,000 and $150,000 Interest Rate Swaps Maturing in 2017
Derivative [Line Items]
Reference rate for variable interest rate		one-month floating rate LIBOR
Mortgages payable
Derivative [Line Items]
Notional						7,910
Mortgages payable | Cash flow hedges | Interest rate swaps
Derivative [Line Items]
Notional						$ 7,910
Debt repaid | Mortgages payable
Derivative [Line Items]
Notional	$ 7,750	$ 7,750
Debt repaid | Mortgages payable | Cash flow hedges | Interest rate swaps
Derivative [Line Items]
Notional	$ 7,750	$ 7,750

Derivatives _ Interest Rate Swa

Derivatives – Interest Rate Swaps Designated as Cash Flow Hedges (Details) - Interest rate swaps - Cash flow hedges $ in Thousands	Dec. 31, 2016USD ($)instrument	Dec. 31, 2015USD ($)instrument
Derivative [Line Items]
Number of instruments | instrument	2	2
Notional | $	$ 250,000	$ 307,910

Derivatives _ Estimated Fair Va

Derivatives – Estimated Fair Value (Details) - Interest rate swaps - Cash flow hedges - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	$ 743	$ 0
Fair value of derivative liability	$ 0	$ 85

Derivatives _ Effect on Stateme

Derivatives – Effect on Statements of Operations (Details) - Interest rate swaps $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)instrument	Dec. 31, 2015USD ($)instrument	Feb. 15, 2017USD ($)instrument
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recognized in other comprehensive income on derivative (effective portion)	$ (399)	$ 643
Amount of loss reclassified from AOCI into income (effective portion)	408	1,095
Amount of gain recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing)	$ (21)	$ (25)
Number of instruments | instrument	2	2
Notional	$ 250,000	$ 307,910
Subsequent events
Derivative Instruments, Gain (Loss) [Line Items]
Number of instruments | instrument			2
Notional			$ 200,000
Fixed interest rate (as a percent)			1.2628%
Subsequent events | Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Number of instruments | instrument			2
Notional			$ 200,000
Fixed interest rate (as a percent)			1.2628%

Investment in Unconsolidated 65

Investment in Unconsolidated Joint Ventures – Summary (Details) $ in Thousands	Jun. 05, 2014property	Dec. 31, 2014USD ($)	Dec. 01, 2014third_party
Equity Method Investments – Profits, Losses and Capital Activity
Company's share of net income (loss)		$ (2,203)
Net cash distributions from/(contributions to) joint ventures		1,335
Fees earned by the Company		338
Amortization of basis differences		115
MS Inland Fund, LLC
Equity Method Investments – Profits, Losses and Capital Activity
Company's share of net income (loss)		241
Net cash distributions from/(contributions to) joint ventures		1,360
Fees earned by the Company		338
Oak Property and Casualty LLC
Schedule of Equity Method Investments [Line Items]
Number of unaffiliated parties that are co-owners in Captive | third_party			3
Equity Method Investments – Profits, Losses and Capital Activity
Company's share of net income (loss)		(2,444)
Net cash distributions from/(contributions to) joint ventures		(25)
Fees earned by the Company		$ 0
MS Inland acquisitions | MS Inland Fund, LLC
Schedule of Equity Method Investments [Line Items]
Number of properties acquired | property	6

Investment in Unconsolidated 66

Investment in Unconsolidated Joint Ventures – Combined Condensed Statements of Operations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2014USD ($)
Combined condensed financial information
Percent of combined condensed consolidated financial information	100.00%
Other Joint Ventures
Revenues
Property related income	$ 11,853
Other income	6,679
Total revenues	18,532
Expenses
Operating expenses	1,660
Real estate taxes	2,339
Depreciation and amortization	3,948
General and administrative expenses	268
Interest expense	3,028
Other expense, net	11,921
Total expenses	23,164
Loss from continuing operations	(4,632)
Net loss	$ (4,632)

Investment in Unconsolidated 67

Investment in Unconsolidated Joint Ventures – Acquisitions (Details) $ in Thousands	Jun. 05, 2014USD ($)property	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Weighted average interest rate (as a percent)		4.44%
Gain on change in control of investment properties		$ 0	$ 0	$ 24,158
MS Inland acquisitions
Business Acquisition [Line Items]
Fair value of assets acquired	$ 292,500
MS Inland acquisitions | MS Inland joint venture partner
Business Acquisition [Line Items]
Ownership interest in joint venture acquired by the Company	80.00%
Fair value of assets acquired	$ 234,000
MS Inland acquisitions | MS Inland
Business Acquisition [Line Items]
Number of properties acquired | property	6
Cash consideration	$ 120,600
Gain on change in control of investment properties	$ 24,158
Equity interest before acquisition (as a percent)	20.00%
Carrying value of investment in acquired properties	$ 6,002
Ownership percentage - 100% | MS Inland acquisitions | MS Inland
Business Acquisition [Line Items]
Fair value of assets acquired	292,500
In-place mortgage financing assumed	$ 141,698
Weighted average interest rate (as a percent)	4.79%
Fair value of the net assets acquired	$ 150,802
Ownership percentage - pro rata | MS Inland acquisitions
Business Acquisition [Line Items]
Fair value of assets acquired	234,000
Ownership percentage - pro rata | MS Inland acquisitions | MS Inland
Business Acquisition [Line Items]
Fair value of the net assets acquired	$ 30,160

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Dec. 21, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 15, 2015
Class of Stock [Line Items]
Total net consideration		$ (100)	$ (216)	$ (145)
Amount paid for shares repurchased		8,841	$ 0	$ 0
2013 ATM Equity Program
Class of Stock [Line Items]
Number of common shares sold					5,547
Total net consideration					$ 83,527
2015 ATM Equity Program
Class of Stock [Line Items]
Maximum aggregate offering price	$ 250,000
Aggregate offering price of remaining common shares available for sale		$ 250,000
Weighted average | 2013 ATM Equity Program
Class of Stock [Line Items]
Average price per share					$ 15.29
2015 Share Repurchase Program
Class of Stock [Line Items]
Maximum authorized amount for repurchases						$ 250,000
Number of shares repurchased		591
Average repurchase price per share		$ 14.93
Amount paid for shares repurchased		$ 8,841
Remaining authorized repurchase amount		$ 241,159

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator:
Income from continuing operations									$ 37,110	$ 3,832	$ 597
Gain on sales of investment properties									129,707	121,792	42,196
Net income from continuing operations attributable to noncontrolling interest									0	(528)	0
Preferred stock dividends									(9,450)	(9,450)	(9,450)
Income from continuing operations attributable to common shareholders									157,367	115,646	33,343
Income from discontinued operations									0	0	507
Net income attributable to common shareholders	$ 15,932	$ 70,132	$ 26,239	$ 45,064	$ 644	$ 75,967	$ 28,321	$ 10,714	157,367	115,646	33,850
Distributions paid on unvested restricted shares									(445)	(481)	(225)
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares									$ 156,922	$ 115,165	$ 33,625
Denominator for earnings per common share – basic:
Weighted average number of common shares outstanding	236,528	236,783	236,716	236,578	236,477	236,439	236,354	236,250	236,651	236,380	236,184
Effect of dilutive securities:
Stock options									2	2	3
RSUs									298	0	0
Denominator for earnings per common share – diluted:
Weighted average number of common and common equivalent shares outstanding	236,852	237,108	236,902	236,680	236,479	236,553	236,356	236,253	236,951	236,382	236,187
Earnings per Share, Other Disclosures
Unvested restricted common stock	542				788				542	788	396
Weighted average number of shares of restricted stock									637	768	364
Stock options
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items]
Number of outstanding options to purchase shares of common stock	41				53				41	53	64
Weighted average exercise price of outstanding options (in dollars per share)	$ 19.25				$ 19.39				$ 19.25	$ 19.39	$ 19.32
Number of outstanding options to purchase shares of common stock that would be anti-dilutive									35	45	54
Weighted average exercise price of outstanding options excluded from diluted EPS calculation (in dollars per share)									$ 20.55	$ 20.74	$ 20.72
RSUs
Earnings per Share, Other Disclosures
Unvested restricted common stock	391				174				391	174	0
Antidilutive Securities Excluded from Computation of Earnings per Share [Line Items]
Number of RSUs eligible for future conversion	391				174				391	174
Weighted average number of RSUs									367	101

Income Taxes _ Deferred Tax Ass

Income Taxes – Deferred Tax Assets and Liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)subsidiary	Dec. 31, 2015USD ($)
Components of Deferred Tax Assets and Liabilities [Line Items]
Annual distribution requirement to shareholders	90.00%
Number of wholly-owned subsidiaries jointly elected to be treated as a TRS | subsidiary	1
Deferred tax assets:
Basis difference in properties	$ 0	$ 1,109
Capital loss carryforward	9,628	9,885
Net operating loss carryforward	10,677	12,543
Other	870	81
Gross deferred tax assets	21,175	23,618
Less: valuation allowance	(21,175)	(23,618)
Total deferred tax assets	0	0
Deferred tax liabilities:
Other	0	0
Net deferred tax assets	0	$ 0
Federal taxing authority
Components of Deferred Tax Assets and Liabilities [Line Items]
Capital loss carryforward	27,510
Net operating loss carryforward	$ 30,507

Income Taxes _ Reconciliation o

Income Taxes – Reconciliation of Net Income to REIT Taxable Income Before Dividends Paid Deduction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Net Income to REIT Taxable Income [Line Items]
Net income attributable to the Company	$ 166,817	$ 125,096	$ 43,300
Book/tax differences	(50,950)	2,344	71,910
REIT taxable income subject to 90% dividend requirement	$ 115,867	$ 127,440	$ 115,210

Income Taxes _ Dividends Paid D

Income Taxes – Dividends Paid Deduction (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Dividends Paid Deduction [Line Items]
Cash distibutions paid	$ 166,285	$ 166,064	$ 166,025
Less: non-dividend distributions	(50,418)	(38,624)	(50,815)
Total dividends paid deduction attributable to earnings and profits	$ 115,867	$ 127,440	$ 115,210
7.00% Series A cumulative redeemable preferred stock
Dividends Paid Deduction [Line Items]
Ordinary dividends (per share)	$ 1.75	$ 1.75	$ 1.75
Non-dividend distributions (per share)	0	0	0
Total distributions per share	1.75	1.75	1.75
Class A common stock
Dividends Paid Deduction [Line Items]
Ordinary dividends (per share)	0.45	0.50	0.45
Non-dividend distributions (per share)	0.21	0.16	0.21
Total distributions per share	$ 0.66	$ 0.66	$ 0.66

Provision for Impairment of I73

Provision for Impairment of Investment Properties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)ft²property	Dec. 31, 2015USD ($)ft²property	Dec. 31, 2014USD ($)ft²property
Impaired Long-Lived Assets Held and Used [Line Items]
Number of properties for which indicators of impairment were identified | property	7	3	8
Number of properties for which an impairment charge was recorded | property	2	0	3
Number of properties held for sale with impairment indicators but not impaired | property	2	0	1
Remaining properties for which indicators of impairment were identified but no impairment was considered necessary | property	3	3	4
Weighted average percentage by which projected undiscounted cash flows exceeded carrying value for each of the remaining properties	21.00%	42.00%	48.00%
Number of properties with impairment indicators which were subsequently sold | property		1	7
Provision for impairment of investment properties	$ 20,376	$ 19,937	$ 72,203
Estimated fair value of impaired properties as of impairment date	$ 40,850	$ 43,720	$ 190,953
South Billings Center
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²	0
Provision for impairment of investment properties	$ 3,007
Mid-Hudson Center
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²	235,600
Provision for impairment of investment properties	$ 4,142
Saucon Valley Square
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²	80,700
Provision for impairment of investment properties	$ 4,742
Crown Theater
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²	74,200
Provision for impairment of investment properties	$ 5,985
Rite Aid Store (Eckerd), Culver Rd.
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²	10,900
Provision for impairment of investment properties	$ 2,500
Massillon Commons
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²		245,900
Provision for impairment of investment properties		$ 2,289
Traveler's Office Building
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²		50,800
Provision for impairment of investment properties		$ 1,655
Shaw's Supermarket
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²		65,700	65,700
Provision for impairment of investment properties		$ 169	$ 6,230
Southgate Plaza
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²		86,100
Provision for impairment of investment properties		$ 2,484
Bellevue Mall
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²		369,300
Provision for impairment of investment properties		$ 13,340
Midtown Center
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²			408,500
Provision for impairment of investment properties			$ 394
Gloucester Town Center
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²			107,200
Provision for impairment of investment properties			$ 6,148
Boston Commons
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²			103,400
Provision for impairment of investment properties			$ 453
Four Peaks Plaza
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²			140,400
Provision for impairment of investment properties			$ 4,154
The Gateway
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²			623,200
Provision for impairment of investment properties			$ 42,999
Newburgh Crossing
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²			62,900
Provision for impairment of investment properties			$ 1,139
Hartford Insurance Building
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²			97,400
Provision for impairment of investment properties			$ 5,782
Citizen's Property Insurance Building
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²			59,800
Provision for impairment of investment properties			$ 4,341
Aon Hewitt East Campus
Impaired Long-Lived Assets Held and Used [Line Items]
Square footage | ft²			343,000
Provision for impairment of investment properties			$ 563

Fair Value Measurements _ Fair

Fair Value Measurements – Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financial liabilities:
Mortgages payable, net	$ 769,184	$ 1,123,136
Unsecured notes payable, net	695,143	495,576
Unsecured term loans, net	447,598	447,526
Unsecured revolving line of credit	86,000	100,000
Carrying value
Financial assets:
Derivative asset	743	0
Financial liabilities:
Mortgages payable, net	769,184	1,123,136
Unsecured notes payable, net	695,143	495,576
Unsecured term loans, net	447,598	447,526
Unsecured revolving line of credit	86,000	100,000
Derivative liability	0	85
Fair value
Financial assets:
Derivative asset	743	0
Financial liabilities:
Mortgages payable, net	833,210	1,213,620
Unsecured notes payable, net	679,212	486,701
Unsecured term loans, net	450,421	450,000
Unsecured revolving line of credit	86,130	100,000
Derivative liability	$ 0	$ 85

Fair Value Measurements _ Recur

Fair Value Measurements – Recurring Fair Value Measurements (Details) - Recurring Fair Value Measurements - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value Measurements [Line Items]
Derivative asset	$ 743
Derivative liability		$ 85
Fair value, Level 2
Fair Value Measurements [Line Items]
Derivative asset	$ 743
Derivative liability		$ 85

Fair Value Measurements _ Nonre

Fair Value Measurements – Nonrecurring Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value Measurements [Line Items]
Provision for impairment			$ 20,376	$ 19,937	$ 72,203
Nonrecurring Fair Value Measurements
Fair Value Measurements [Line Items]
Fair value of investment properties	$ 11,100		11,100
Provision for impairment			13,227
Fair value, Level 2 | Nonrecurring Fair Value Measurements
Fair Value Measurements [Line Items]
Fair value of investment properties	500		500
Fair value, Level 3 | Nonrecurring Fair Value Measurements
Fair Value Measurements [Line Items]
Fair value of investment properties	10,600		10,600
Crown Theater
Fair Value Measurements [Line Items]
Fair value of investment properties	4,000		4,000
Saucon Valley Square
Fair Value Measurements [Line Items]
Fair value of investment properties	$ 6,600		$ 6,600
Minimum | Fair value, Level 3
Fair Value Measurements [Line Items]
Operating expense growth rates		3.10%
Discount rates		9.35%
Terminal capitalization rates		8.35%
Maximum | Fair value, Level 3
Fair Value Measurements [Line Items]
Operating expense growth rates	18.02%
Discount rates	10.00%
Terminal capitalization rates	9.50%

Fair Value Measurements _ Fai77

Fair Value Measurements – Fair Value Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Fair Value Measurements [Line Items]
Mortgages payable, net	$ 769,184		$ 1,123,136
Unsecured notes payable, net	695,143		495,576
Unsecured term loans, net	447,598		447,526
Unsecured revolving line of credit	86,000		100,000
Fair value, Level 1
Fair Value Measurements [Line Items]
Unsecured notes payable, net	234,700		239,482
Fair value, Level 3
Fair Value Measurements [Line Items]
Mortgages payable, net	833,210		1,213,620
Unsecured notes payable, net	444,512		247,219
Unsecured term loans, net	450,421		450,000
Unsecured revolving line of credit	86,130		100,000
Fair value, Total
Fair Value Measurements [Line Items]
Mortgages payable, net	833,210		1,213,620
Unsecured notes payable, net	679,212		486,701
Unsecured term loans, net	450,421		450,000
Unsecured revolving line of credit	$ 86,130		$ 100,000
Minimum | Fair value, Level 3
Fair Value Measurements [Line Items]
Discount rate (as a percent)		9.35%
Maximum | Fair value, Level 3
Fair Value Measurements [Line Items]
Discount rate (as a percent)	10.00%
Mortgages payable | Minimum
Fair Value Measurements [Line Items]
Discount rate (as a percent)	2.90%		2.20%
Mortgages payable | Maximum
Fair Value Measurements [Line Items]
Discount rate (as a percent)	4.60%		6.00%
Unsecured notes payable
Fair Value Measurements [Line Items]
Unsecured notes payable, net	$ 700,000		$ 500,000
Unsecured term loans | Weighted average
Fair Value Measurements [Line Items]
Discount rate (as a percent)	1.30%		1.30%
Unsecured revolving line of credit
Fair Value Measurements [Line Items]
Discount rate (as a percent)	1.30%		1.35%
Notes Due 2021, 2024, 2026 and 2028 | Unsecured notes payable | Weighted average
Fair Value Measurements [Line Items]
Discount rate (as a percent)	4.48%
Notes Due 2021 and 2024 | Unsecured notes payable | Weighted average
Fair Value Measurements [Line Items]
Discount rate (as a percent)			4.64%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Guarantees
Commitments and Contingencies [Line Items]
Amount of letters of credit outstanding	$ 12,296
Reisterstown Road Plaza
Commitments and Contingencies [Line Items]
Redevelopment costs incurred	1,417
Reisterstown Road Plaza | Minimum
Commitments and Contingencies [Line Items]
Net estimated redevelopment costs	12,000
Reisterstown Road Plaza | Maximum
Commitments and Contingencies [Line Items]
Net estimated redevelopment costs	13,000
Towson Circle
Commitments and Contingencies [Line Items]
Redevelopment costs incurred	10,053
Towson Circle | Minimum
Commitments and Contingencies [Line Items]
Net estimated redevelopment costs	33,000
Towson Circle | Maximum
Commitments and Contingencies [Line Items]
Net estimated redevelopment costs	$ 35,000

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, shares in Thousands, $ in Thousands	Jan. 13, 2017USD ($)ft²	Feb. 15, 2017USD ($)aft²instrument$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Nov. 22, 2016USD ($)
Subsequent Event [Line Items]
Mortgages payable, net			$ 769,184	$ 1,123,136
Premium paid in connection with defeasance of mortgages payable			$ 1,735	$ 17,343	$ 1,322
Dividends declared to preferred shareholders (in dollars per share) | $ / shares			$ 1.75	$ 1.75	$ 1.75
Dividends declared to common shareholders (in dollars per share) | $ / shares			$ 0.6625	$ 0.6625	$ 0.6625
Term Loan Due 2023
Subsequent Event [Line Items]
Amount of debt issuance						$ 200,000
Restricted shares
Subsequent Event [Line Items]
Shares/RSUs granted (in shares) | shares			274	801	303
Shares/RSUs granted (in dollars per share) | $ / shares			$ 14.76	$ 15.82	$ 13.89
RSUs
Subsequent Event [Line Items]
Shares/RSUs granted (in shares) | shares			246	180
Shares/RSUs granted (in dollars per share) | $ / shares			$ 13.85	$ 14.19
Vesting period for shares granted (in years)			1 year
Performance period (in years)			3 years
7.00% Series A cumulative redeemable preferred stock
Subsequent Event [Line Items]
Preferred stock, dividend rate			7.00%	7.00%
Subsequent events | IW JV 2009, LLC
Subsequent Event [Line Items]
Mortgages payable, net		$ 379,435
Stated interest rate (as a percent)		7.50%
Premium paid in connection with defeasance of mortgages payable		$ 60,198
Subsequent events | Term Loan Due 2023
Subsequent Event [Line Items]
Amount of debt issuance		$ 200,000
Subsequent events | Interest rate swaps
Subsequent Event [Line Items]
Number of instruments | instrument		2
Notional		$ 200,000
Fixed interest rate (as a percent)		1.2628%
Subsequent events | Main Street Promenade
Subsequent Event [Line Items]
Square footage | ft²	181,600	181,600
Gross purchase price	$ 88,000	$ 88,000
Subsequent events | Boulevard at the Capital Centre
Subsequent Event [Line Items]
Acres of land | a		50
Acres of land subject to ground lease | a		70
Purchase price of asset acquisition		$ 1,939
Subsequent events | Rite Aid Store (Eckerd), Culver Rd.
Subsequent Event [Line Items]
Square footage | ft²		10,900
Sales price		$ 500
Subsequent events | Restricted shares
Subsequent Event [Line Items]
Shares/RSUs granted (in shares) | shares		88
Shares/RSUs granted (in dollars per share) | $ / shares		$ 15.34
Vesting period for shares granted (in years)		3 years
Subsequent events | RSUs
Subsequent Event [Line Items]
Shares/RSUs granted (in shares) | shares		253
Shares/RSUs granted (in dollars per share) | $ / shares		$ 15.52
Performance period (in years)		3 years
Subsequent events | 7.00% Series A cumulative redeemable preferred stock
Subsequent Event [Line Items]
Preferred stock, dividend rate		7.00%
Dividends declared to preferred shareholders (in dollars per share) | $ / shares		$ 0.4375
Subsequent events | Class A common stock
Subsequent Event [Line Items]
Dividends declared to common shareholders (in dollars per share) | $ / shares		$ 0.165625

Quarterly Financial Informati80

Quarterly Financial Information (unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 142,752	$ 144,526	$ 147,226	$ 148,639	$ 148,920	$ 150,955	$ 150,888	$ 153,197	$ 583,143	$ 603,960	$ 600,614
Net income	18,295	72,494	28,602	47,426	3,535	78,329	30,684	13,076	166,817	125,624	43,300
Net income attributable to common shareholders	$ 15,932	$ 70,132	$ 26,239	$ 45,064	$ 644	$ 75,967	$ 28,321	$ 10,714	$ 157,367	$ 115,646	$ 33,850
Net income per common share attributable to common shareholders – basic and diluted (in dollars per share)	$ 0.07	$ 0.30	$ 0.11	$ 0.19	$ 0	$ 0.32	$ 0.12	$ 0.05	$ 0.66	$ 0.49	$ 0.14
Weighted average number of common shares outstanding – basic	236,528	236,783	236,716	236,578	236,477	236,439	236,354	236,250	236,651	236,380	236,184
Weighted average number of common shares outstanding – diluted	236,852	237,108	236,902	236,680	236,479	236,553	236,356	236,253	236,951	236,382	236,187

Schedule II Valuation and Qua81

Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ 7,910	$ 7,497	$ 8,197
Charged to costs and expenses	2,466	3,069	2,689
Write-offs	(3,490)	(2,656)	(3,389)
Balance at end of year	6,886	7,910	7,497
Tax valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	23,618	20,355	18,631
Charged to costs and expenses	(2,443)	3,263	1,724
Write-offs	0	0	0
Balance at end of year	$ 21,175	$ 23,618	$ 20,355

Schedule III Real Estate and 82

Schedule III Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	$ 769,184
Initial cost of land	1,224,489
Initial cost of buildings and improvements	4,047,097
Adjustments to basis	227,920
Gross amount carried at end of period, land and improvements	1,206,944
Gross amount carried at end of period, buildings and improvements	4,292,562
Gross amount carried at end of period, total	5,499,506	$ 5,687,842	$ 5,680,376	$ 5,804,518
Accumulated depreciation	1,443,333	$ 1,433,195	$ 1,365,471	$ 1,330,474
Aggregate cost of real estate, U.S. federal income tax purposes	5,524,479
23rd Street Plaza | Panama City, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	2,823
Initial cost of land	1,300
Initial cost of buildings and improvements	5,319
Adjustments to basis	900
Gross amount carried at end of period, land and improvements	1,300
Gross amount carried at end of period, buildings and improvements	6,219
Gross amount carried at end of period, total	7,519
Accumulated depreciation	2,578
Ashland & Roosevelt | Chicago, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	973
Initial cost of land	13,850
Initial cost of buildings and improvements	21,052
Adjustments to basis	642
Gross amount carried at end of period, land and improvements	13,850
Gross amount carried at end of period, buildings and improvements	21,694
Gross amount carried at end of period, total	35,544
Accumulated depreciation	9,110
Avondale Plaza | Redmond, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,573
Initial cost of buildings and improvements	9,497
Adjustments to basis	36
Gross amount carried at end of period, land and improvements	4,573
Gross amount carried at end of period, buildings and improvements	9,533
Gross amount carried at end of period, total	14,106
Accumulated depreciation	779
Azalea Square I | Summerville, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	11,127
Initial cost of land	6,375
Initial cost of buildings and improvements	21,304
Adjustments to basis	1,793
Gross amount carried at end of period, land and improvements	6,375
Gross amount carried at end of period, buildings and improvements	23,097
Gross amount carried at end of period, total	29,472
Accumulated depreciation	10,703
Azalea Square III | Summerville, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,280
Initial cost of buildings and improvements	10,348
Adjustments to basis	90
Gross amount carried at end of period, land and improvements	3,280
Gross amount carried at end of period, buildings and improvements	10,438
Gross amount carried at end of period, total	13,718
Accumulated depreciation	3,529
Bed Bath & Beyond Plaza | Miami, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	8,355
Initial cost of land	10,350
Initial cost of buildings and improvements	18,367
Adjustments to basis	692
Gross amount carried at end of period, land and improvements	10,350
Gross amount carried at end of period, buildings and improvements	19,059
Gross amount carried at end of period, total	29,409
Accumulated depreciation	8,561
Bed Bath & Beyond Plaza | Westbury, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,530
Initial cost of buildings and improvements	11,901
Adjustments to basis	313
Gross amount carried at end of period, land and improvements	4,530
Gross amount carried at end of period, buildings and improvements	12,214
Gross amount carried at end of period, total	16,744
Accumulated depreciation	4,979
Boulevard at the Capital Centre | Largo, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	0
Initial cost of buildings and improvements	114,703
Adjustments to basis	(28,975)
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	85,728
Gross amount carried at end of period, total	85,728
Accumulated depreciation	28,916
Boulevard Plaza | Pawtucket, RI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	2,197
Initial cost of land	4,170
Initial cost of buildings and improvements	12,038
Adjustments to basis	3,564
Gross amount carried at end of period, land and improvements	4,170
Gross amount carried at end of period, buildings and improvements	15,602
Gross amount carried at end of period, total	19,772
Accumulated depreciation	6,729
The Brickyard | Chicago, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	45,300
Initial cost of buildings and improvements	26,657
Adjustments to basis	7,546
Gross amount carried at end of period, land and improvements	45,300
Gross amount carried at end of period, buildings and improvements	34,203
Gross amount carried at end of period, total	79,503
Accumulated depreciation	13,589
Brown's Lane | Middletown, RI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	4,585
Initial cost of land	2,600
Initial cost of buildings and improvements	12,005
Adjustments to basis	1,254
Gross amount carried at end of period, land and improvements	2,600
Gross amount carried at end of period, buildings and improvements	13,259
Gross amount carried at end of period, total	15,859
Accumulated depreciation	5,632
Cedar Park Town Center | Cedar Park, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	23,923
Initial cost of buildings and improvements	13,829
Adjustments to basis	368
Gross amount carried at end of period, land and improvements	23,923
Gross amount carried at end of period, buildings and improvements	14,197
Gross amount carried at end of period, total	38,120
Accumulated depreciation	1,254
Central Texas Marketplace | Waco, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	13,000
Initial cost of buildings and improvements	47,559
Adjustments to basis	8,757
Gross amount carried at end of period, land and improvements	13,000
Gross amount carried at end of period, buildings and improvements	56,316
Gross amount carried at end of period, total	69,316
Accumulated depreciation	19,721
Centre at Laurel | Laurel, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	19,000
Initial cost of buildings and improvements	8,406
Adjustments to basis	16,714
Gross amount carried at end of period, land and improvements	18,700
Gross amount carried at end of period, buildings and improvements	25,420
Gross amount carried at end of period, total	44,120
Accumulated depreciation	9,805
Chantilly Crossing | Chantilly, VA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	8,500
Initial cost of buildings and improvements	16,060
Adjustments to basis	2,347
Gross amount carried at end of period, land and improvements	8,500
Gross amount carried at end of period, buildings and improvements	18,407
Gross amount carried at end of period, total	26,907
Accumulated depreciation	7,633
Cinemark Seven Bridges | Woodridge, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	4,585
Initial cost of land	3,450
Initial cost of buildings and improvements	11,728
Adjustments to basis	15
Gross amount carried at end of period, land and improvements	3,450
Gross amount carried at end of period, buildings and improvements	11,743
Gross amount carried at end of period, total	15,193
Accumulated depreciation	4,824
Clearlake Shores | Clear Lake, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,775
Initial cost of buildings and improvements	7,026
Adjustments to basis	1,182
Gross amount carried at end of period, land and improvements	1,775
Gross amount carried at end of period, buildings and improvements	8,208
Gross amount carried at end of period, total	9,983
Accumulated depreciation	3,467
Coal Creek Marketplace | New Castle, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	5,023
Initial cost of buildings and improvements	12,382
Adjustments to basis	76
Gross amount carried at end of period, land and improvements	5,023
Gross amount carried at end of period, buildings and improvements	12,458
Gross amount carried at end of period, total	17,481
Accumulated depreciation	672
Colony Square | Sugar Land, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	16,700
Initial cost of buildings and improvements	22,775
Adjustments to basis	3,564
Gross amount carried at end of period, land and improvements	16,700
Gross amount carried at end of period, buildings and improvements	26,339
Gross amount carried at end of period, total	43,039
Accumulated depreciation	9,481
The Columns | Jackson, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	11,479
Initial cost of land	5,830
Initial cost of buildings and improvements	19,439
Adjustments to basis	415
Gross amount carried at end of period, land and improvements	5,830
Gross amount carried at end of period, buildings and improvements	19,854
Gross amount carried at end of period, total	25,684
Accumulated depreciation	8,858
The Commons at Temecula | Temecula, CA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	12,000
Initial cost of buildings and improvements	35,887
Adjustments to basis	3,344
Gross amount carried at end of period, land and improvements	12,000
Gross amount carried at end of period, buildings and improvements	39,231
Gross amount carried at end of period, total	51,231
Accumulated depreciation	16,211
Coppell Town Center | Coppell, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	2,919
Initial cost of buildings and improvements	13,281
Adjustments to basis	59
Gross amount carried at end of period, land and improvements	2,919
Gross amount carried at end of period, buildings and improvements	13,340
Gross amount carried at end of period, total	16,259
Accumulated depreciation	1,744
Coram Plaza | Coram, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	12,992
Initial cost of land	10,200
Initial cost of buildings and improvements	26,178
Adjustments to basis	3,091
Gross amount carried at end of period, land and improvements	10,200
Gross amount carried at end of period, buildings and improvements	29,269
Gross amount carried at end of period, total	39,469
Accumulated depreciation	12,854
Corwest Plaza | New Britain, CT
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	13,985
Initial cost of land	6,900
Initial cost of buildings and improvements	23,851
Adjustments to basis	2
Gross amount carried at end of period, land and improvements	6,900
Gross amount carried at end of period, buildings and improvements	23,853
Gross amount carried at end of period, total	30,753
Accumulated depreciation	11,409
Cottage Plaza | Pawtucket, RI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	9,980
Initial cost of land	3,000
Initial cost of buildings and improvements	19,158
Adjustments to basis	474
Gross amount carried at end of period, land and improvements	3,000
Gross amount carried at end of period, buildings and improvements	19,632
Gross amount carried at end of period, total	22,632
Accumulated depreciation	8,469
Cranberry Square | Cranberry Township, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	10,239
Initial cost of land	3,000
Initial cost of buildings and improvements	18,736
Adjustments to basis	1,398
Gross amount carried at end of period, land and improvements	3,000
Gross amount carried at end of period, buildings and improvements	20,134
Gross amount carried at end of period, total	23,134
Accumulated depreciation	9,061
Crown Theater | Hartford, CT
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	7,318
Initial cost of buildings and improvements	954
Adjustments to basis	(5,481)
Gross amount carried at end of period, land and improvements	2,707
Gross amount carried at end of period, buildings and improvements	84
Gross amount carried at end of period, total	2,791
Accumulated depreciation	0
Cuyahoga Falls Market Center | Cuyahoga Falls, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	3,387
Initial cost of land	3,350
Initial cost of buildings and improvements	11,083
Adjustments to basis	581
Gross amount carried at end of period, land and improvements	3,350
Gross amount carried at end of period, buildings and improvements	11,664
Gross amount carried at end of period, total	15,014
Accumulated depreciation	5,006
CVS Pharmacy | Lawton, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	750
Initial cost of buildings and improvements	1,958
Adjustments to basis	0
Gross amount carried at end of period, land and improvements	750
Gross amount carried at end of period, buildings and improvements	1,958
Gross amount carried at end of period, total	2,708
Accumulated depreciation	831
Cypress Mill Plaza | Cypress, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,962
Initial cost of buildings and improvements	9,976
Adjustments to basis	77
Gross amount carried at end of period, land and improvements	4,962
Gross amount carried at end of period, buildings and improvements	10,053
Gross amount carried at end of period, total	15,015
Accumulated depreciation	1,452
Davis Towne Crossing | North Richland Hills, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,850
Initial cost of buildings and improvements	5,681
Adjustments to basis	1,181
Gross amount carried at end of period, land and improvements	1,671
Gross amount carried at end of period, buildings and improvements	7,041
Gross amount carried at end of period, total	8,712
Accumulated depreciation	3,072
Denton Crossing | Denton, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	25,322
Initial cost of land	6,000
Initial cost of buildings and improvements	43,434
Adjustments to basis	12,889
Gross amount carried at end of period, land and improvements	6,000
Gross amount carried at end of period, buildings and improvements	56,323
Gross amount carried at end of period, total	62,323
Accumulated depreciation	24,358
Dorman Center I & II | Spartanburg, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	19,906
Initial cost of land	17,025
Initial cost of buildings and improvements	29,478
Adjustments to basis	1,057
Gross amount carried at end of period, land and improvements	17,025
Gross amount carried at end of period, buildings and improvements	30,535
Gross amount carried at end of period, total	47,560
Accumulated depreciation	14,747
Downtown Crown | Gaithersburg, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	43,367
Initial cost of buildings and improvements	110,785
Adjustments to basis	1,940
Gross amount carried at end of period, land and improvements	43,367
Gross amount carried at end of period, buildings and improvements	112,725
Gross amount carried at end of period, total	156,092
Accumulated depreciation	8,432
East Stone Commons | Kingsport, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	2,900
Initial cost of buildings and improvements	28,714
Adjustments to basis	(727)
Gross amount carried at end of period, land and improvements	2,826
Gross amount carried at end of period, buildings and improvements	28,061
Gross amount carried at end of period, total	30,887
Accumulated depreciation	10,813
Eastside | Richardson, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,055
Initial cost of buildings and improvements	17,620
Adjustments to basis	27
Gross amount carried at end of period, land and improvements	4,055
Gross amount carried at end of period, buildings and improvements	17,647
Gross amount carried at end of period, total	21,702
Accumulated depreciation	455
Eastwood Towne Center | Lansing, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	12,000
Initial cost of buildings and improvements	65,067
Adjustments to basis	4,574
Gross amount carried at end of period, land and improvements	12,000
Gross amount carried at end of period, buildings and improvements	69,641
Gross amount carried at end of period, total	81,641
Accumulated depreciation	31,168
Edgemont Town Center | Homewood, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	6,040
Initial cost of land	3,500
Initial cost of buildings and improvements	10,956
Adjustments to basis	449
Gross amount carried at end of period, land and improvements	3,500
Gross amount carried at end of period, buildings and improvements	11,405
Gross amount carried at end of period, total	14,905
Accumulated depreciation	5,067
Edwards Multiplex | Fresno, CA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	8,830
Initial cost of land	0
Initial cost of buildings and improvements	35,421
Adjustments to basis	0
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	35,421
Gross amount carried at end of period, total	35,421
Accumulated depreciation	15,151
Edwards Multiplex | Ontario, CA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	12,765
Initial cost of land	11,800
Initial cost of buildings and improvements	33,098
Adjustments to basis	0
Gross amount carried at end of period, land and improvements	11,800
Gross amount carried at end of period, buildings and improvements	33,098
Gross amount carried at end of period, total	44,898
Accumulated depreciation	14,157
Evans Towne Centre | Evans, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	3,965
Initial cost of land	1,700
Initial cost of buildings and improvements	6,425
Adjustments to basis	1,030
Gross amount carried at end of period, land and improvements	1,700
Gross amount carried at end of period, buildings and improvements	7,455
Gross amount carried at end of period, total	9,155
Accumulated depreciation	3,081
Fairgrounds Plaza | Middletown, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,800
Initial cost of buildings and improvements	13,490
Adjustments to basis	4,626
Gross amount carried at end of period, land and improvements	5,431
Gross amount carried at end of period, buildings and improvements	17,485
Gross amount carried at end of period, total	22,916
Accumulated depreciation	7,329
Five Forks | Simpsonville, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	2,540
Initial cost of buildings and improvements	6,393
Adjustments to basis	493
Gross amount carried at end of period, land and improvements	2,540
Gross amount carried at end of period, buildings and improvements	6,886
Gross amount carried at end of period, total	9,426
Accumulated depreciation	3,008
Fordham Place | Bronx, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	17,209
Initial cost of buildings and improvements	96,547
Adjustments to basis	(6)
Gross amount carried at end of period, land and improvements	17,209
Gross amount carried at end of period, buildings and improvements	96,541
Gross amount carried at end of period, total	113,750
Accumulated depreciation	11,057
Forks Town Center | Easton, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	7,805
Initial cost of land	2,430
Initial cost of buildings and improvements	14,836
Adjustments to basis	818
Gross amount carried at end of period, land and improvements	2,430
Gross amount carried at end of period, buildings and improvements	15,654
Gross amount carried at end of period, total	18,084
Accumulated depreciation	7,077
Fort Evans Plaza II | Leesburg, VA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	16,118
Initial cost of buildings and improvements	44,880
Adjustments to basis	174
Gross amount carried at end of period, land and improvements	16,118
Gross amount carried at end of period, buildings and improvements	45,054
Gross amount carried at end of period, total	61,172
Accumulated depreciation	3,701
Fox Creek Village | Longmont, CO
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	8,386
Initial cost of land	3,755
Initial cost of buildings and improvements	15,563
Adjustments to basis	(913)
Gross amount carried at end of period, land and improvements	3,755
Gross amount carried at end of period, buildings and improvements	14,650
Gross amount carried at end of period, total	18,405
Accumulated depreciation	6,641
Fullerton Metrocenter | Fullerton, CA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	26,078
Initial cost of land	0
Initial cost of buildings and improvements	47,403
Adjustments to basis	3,087
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	50,490
Gross amount carried at end of period, total	50,490
Accumulated depreciation	22,646
Galvez Shopping Center | Galveston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,250
Initial cost of buildings and improvements	4,947
Adjustments to basis	382
Gross amount carried at end of period, land and improvements	1,250
Gross amount carried at end of period, buildings and improvements	5,329
Gross amount carried at end of period, total	6,579
Accumulated depreciation	2,247
Gardiner Manor Mall | Bay Shore, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	35,741
Initial cost of land	12,348
Initial cost of buildings and improvements	56,199
Adjustments to basis	673
Gross amount carried at end of period, land and improvements	12,348
Gross amount carried at end of period, buildings and improvements	56,872
Gross amount carried at end of period, total	69,220
Accumulated depreciation	5,454
Gateway Pavilions | Avondale, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	22,538
Initial cost of land	9,880
Initial cost of buildings and improvements	55,195
Adjustments to basis	1,165
Gross amount carried at end of period, land and improvements	9,880
Gross amount carried at end of period, buildings and improvements	56,360
Gross amount carried at end of period, total	66,240
Accumulated depreciation	24,741
Gateway Plaza | Southlake, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	0
Initial cost of buildings and improvements	26,371
Adjustments to basis	5,803
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	32,174
Gross amount carried at end of period, total	32,174
Accumulated depreciation	13,593
Gateway Station | College Station, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,050
Initial cost of buildings and improvements	3,911
Adjustments to basis	1,043
Gross amount carried at end of period, land and improvements	1,050
Gross amount carried at end of period, buildings and improvements	4,954
Gross amount carried at end of period, total	6,004
Accumulated depreciation	2,169
Gateway Station II & III | College Station, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,280
Initial cost of buildings and improvements	11,557
Adjustments to basis	(7)
Gross amount carried at end of period, land and improvements	3,280
Gross amount carried at end of period, buildings and improvements	11,550
Gross amount carried at end of period, total	14,830
Accumulated depreciation	3,791
Gateway Village | Annapolis, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	34,766
Initial cost of land	8,550
Initial cost of buildings and improvements	39,298
Adjustments to basis	5,397
Gross amount carried at end of period, land and improvements	8,550
Gross amount carried at end of period, buildings and improvements	44,695
Gross amount carried at end of period, total	53,245
Accumulated depreciation	19,745
Gerry Centennial Plaza | Oswego, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	5,370
Initial cost of buildings and improvements	12,968
Adjustments to basis	9,282
Gross amount carried at end of period, land and improvements	5,370
Gross amount carried at end of period, buildings and improvements	22,250
Gross amount carried at end of period, total	27,620
Accumulated depreciation	7,491
Governor's Marketplace | Tallahassee, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	0
Initial cost of buildings and improvements	30,377
Adjustments to basis	3,309
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	33,686
Gross amount carried at end of period, total	33,686
Accumulated depreciation	15,267
Grapevine Crossing | Grapevine, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,100
Initial cost of buildings and improvements	16,938
Adjustments to basis	241
Gross amount carried at end of period, land and improvements	3,894
Gross amount carried at end of period, buildings and improvements	17,385
Gross amount carried at end of period, total	21,279
Accumulated depreciation	7,382
Green's Corner | Cumming, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	4,937
Initial cost of land	3,200
Initial cost of buildings and improvements	8,663
Adjustments to basis	741
Gross amount carried at end of period, land and improvements	3,200
Gross amount carried at end of period, buildings and improvements	9,404
Gross amount carried at end of period, total	12,604
Accumulated depreciation	3,952
Gurnee Town Center | Gurnee, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	14,050
Initial cost of land	7,000
Initial cost of buildings and improvements	35,147
Adjustments to basis	4,646
Gross amount carried at end of period, land and improvements	7,000
Gross amount carried at end of period, buildings and improvements	39,793
Gross amount carried at end of period, total	46,793
Accumulated depreciation	17,484
Henry Town Center | McDonough, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	10,650
Initial cost of buildings and improvements	46,814
Adjustments to basis	6,971
Gross amount carried at end of period, land and improvements	10,650
Gross amount carried at end of period, buildings and improvements	53,785
Gross amount carried at end of period, total	64,435
Accumulated depreciation	22,097
Heritage Square | Issaquah, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	6,377
Initial cost of buildings and improvements	11,385
Adjustments to basis	1,441
Gross amount carried at end of period, land and improvements	6,377
Gross amount carried at end of period, buildings and improvements	12,826
Gross amount carried at end of period, total	19,203
Accumulated depreciation	1,266
Heritage Towne Crossing | Euless, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,065
Initial cost of buildings and improvements	10,729
Adjustments to basis	1,533
Gross amount carried at end of period, land and improvements	3,065
Gross amount carried at end of period, buildings and improvements	12,262
Gross amount carried at end of period, total	15,327
Accumulated depreciation	5,720
Hickory Ridge | Hickory, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	17,939
Initial cost of land	6,860
Initial cost of buildings and improvements	33,323
Adjustments to basis	613
Gross amount carried at end of period, land and improvements	6,860
Gross amount carried at end of period, buildings and improvements	33,936
Gross amount carried at end of period, total	40,796
Accumulated depreciation	15,155
High Ridge Crossing | High Ridge, MO
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	4,585
Initial cost of land	3,075
Initial cost of buildings and improvements	9,148
Adjustments to basis	(159)
Gross amount carried at end of period, land and improvements	3,075
Gross amount carried at end of period, buildings and improvements	8,989
Gross amount carried at end of period, total	12,064
Accumulated depreciation	3,897
Holliday Towne Center | Duncansville, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	7,233
Initial cost of land	2,200
Initial cost of buildings and improvements	11,609
Adjustments to basis	(333)
Gross amount carried at end of period, land and improvements	2,200
Gross amount carried at end of period, buildings and improvements	11,276
Gross amount carried at end of period, total	13,476
Accumulated depreciation	5,007
Home Depot Center | Pittsburgh, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	0
Initial cost of buildings and improvements	16,758
Adjustments to basis	0
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	16,758
Gross amount carried at end of period, total	16,758
Accumulated depreciation	7,065
Home Depot Plaza | Orange, CT
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	10,689
Initial cost of land	9,700
Initial cost of buildings and improvements	17,137
Adjustments to basis	1,738
Gross amount carried at end of period, land and improvements	9,700
Gross amount carried at end of period, buildings and improvements	18,875
Gross amount carried at end of period, total	28,575
Accumulated depreciation	7,805
HQ Building | San Antonio, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	5,200
Initial cost of buildings and improvements	10,010
Adjustments to basis	4,211
Gross amount carried at end of period, land and improvements	5,200
Gross amount carried at end of period, buildings and improvements	14,221
Gross amount carried at end of period, total	19,421
Accumulated depreciation	5,858
Huebner Oaks Center | San Antonio, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	18,087
Initial cost of buildings and improvements	64,731
Adjustments to basis	217
Gross amount carried at end of period, land and improvements	18,087
Gross amount carried at end of period, buildings and improvements	64,948
Gross amount carried at end of period, total	83,035
Accumulated depreciation	6,139
Humblewood Shopping Center | Humble, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	2,200
Initial cost of buildings and improvements	12,823
Adjustments to basis	1,392
Gross amount carried at end of period, land and improvements	2,200
Gross amount carried at end of period, buildings and improvements	14,215
Gross amount carried at end of period, total	16,415
Accumulated depreciation	5,406
Irmo Station | Irmo, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	4,674
Initial cost of land	2,600
Initial cost of buildings and improvements	9,247
Adjustments to basis	1,231
Gross amount carried at end of period, land and improvements	2,579
Gross amount carried at end of period, buildings and improvements	10,499
Gross amount carried at end of period, total	13,078
Accumulated depreciation	4,529
Jefferson Commons | Newport News, VA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	23,097
Initial cost of buildings and improvements	52,762
Adjustments to basis	2,001
Gross amount carried at end of period, land and improvements	23,097
Gross amount carried at end of period, buildings and improvements	54,763
Gross amount carried at end of period, total	77,860
Accumulated depreciation	17,720
John's Creek Village | John's Creek, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	14,446
Initial cost of buildings and improvements	23,932
Adjustments to basis	568
Gross amount carried at end of period, land and improvements	14,446
Gross amount carried at end of period, buildings and improvements	24,500
Gross amount carried at end of period, total	38,946
Accumulated depreciation	2,531
King Philip's Crossing | Seekonk, MA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,710
Initial cost of buildings and improvements	19,144
Adjustments to basis	(150)
Gross amount carried at end of period, land and improvements	3,710
Gross amount carried at end of period, buildings and improvements	18,994
Gross amount carried at end of period, total	22,704
Accumulated depreciation	7,779
La Plaza Del Norte | San Antonio, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	16,005
Initial cost of buildings and improvements	37,744
Adjustments to basis	4,007
Gross amount carried at end of period, land and improvements	16,005
Gross amount carried at end of period, buildings and improvements	41,751
Gross amount carried at end of period, total	57,756
Accumulated depreciation	19,057
Lake Mary Pointe | Lake Mary, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	1,516
Initial cost of land	2,075
Initial cost of buildings and improvements	4,009
Adjustments to basis	186
Gross amount carried at end of period, land and improvements	2,065
Gross amount carried at end of period, buildings and improvements	4,205
Gross amount carried at end of period, total	6,270
Accumulated depreciation	1,842
Lake Worth Towne Crossing | Lake Worth, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	6,600
Initial cost of buildings and improvements	30,910
Adjustments to basis	9,124
Gross amount carried at end of period, land and improvements	6,600
Gross amount carried at end of period, buildings and improvements	40,034
Gross amount carried at end of period, total	46,634
Accumulated depreciation	13,839
Lakepointe Towne Center | Lewisville, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,750
Initial cost of buildings and improvements	23,904
Adjustments to basis	3,027
Gross amount carried at end of period, land and improvements	4,750
Gross amount carried at end of period, buildings and improvements	26,931
Gross amount carried at end of period, total	31,681
Accumulated depreciation	11,092
Lakewood Towne Center | Lakewood, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	12,555
Initial cost of buildings and improvements	74,612
Adjustments to basis	(13,958)
Gross amount carried at end of period, land and improvements	12,555
Gross amount carried at end of period, buildings and improvements	60,654
Gross amount carried at end of period, total	73,209
Accumulated depreciation	27,077
Lincoln Park | Dallas, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	25,217
Initial cost of land	38,329
Initial cost of buildings and improvements	17,772
Adjustments to basis	357
Gross amount carried at end of period, land and improvements	38,329
Gross amount carried at end of period, buildings and improvements	18,129
Gross amount carried at end of period, total	56,458
Accumulated depreciation	1,821
Lincoln Plaza | Worcester, MA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	13,000
Initial cost of buildings and improvements	46,482
Adjustments to basis	22,906
Gross amount carried at end of period, land and improvements	13,110
Gross amount carried at end of period, buildings and improvements	69,278
Gross amount carried at end of period, total	82,388
Accumulated depreciation	27,534
Low Country Village I & II | Bluffton, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	2,910
Initial cost of buildings and improvements	16,614
Adjustments to basis	(277)
Gross amount carried at end of period, land and improvements	2,486
Gross amount carried at end of period, buildings and improvements	16,761
Gross amount carried at end of period, total	19,247
Accumulated depreciation	7,536
Lowe's/Bed Bath Beyond | Butler, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	7,423
Initial cost of buildings and improvements	799
Adjustments to basis	(8)
Gross amount carried at end of period, land and improvements	7,415
Gross amount carried at end of period, buildings and improvements	799
Gross amount carried at end of period, total	8,214
Accumulated depreciation	604
MacArthur Crossing | Los Colinas, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,710
Initial cost of buildings and improvements	16,265
Adjustments to basis	2,242
Gross amount carried at end of period, land and improvements	4,710
Gross amount carried at end of period, buildings and improvements	18,507
Gross amount carried at end of period, total	23,217
Accumulated depreciation	8,609
Magnolia Square | Houma, LA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	5,905
Initial cost of land	2,635
Initial cost of buildings and improvements	15,040
Adjustments to basis	(654)
Gross amount carried at end of period, land and improvements	2,635
Gross amount carried at end of period, buildings and improvements	14,386
Gross amount carried at end of period, total	17,021
Accumulated depreciation	6,245
Manchester Meadows | Town and Country, MO
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	14,700
Initial cost of buildings and improvements	39,738
Adjustments to basis	6,048
Gross amount carried at end of period, land and improvements	14,700
Gross amount carried at end of period, buildings and improvements	45,786
Gross amount carried at end of period, total	60,486
Accumulated depreciation	18,780
Mansfield Towne Crossing | Mansfield, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,300
Initial cost of buildings and improvements	12,195
Adjustments to basis	3,625
Gross amount carried at end of period, land and improvements	3,300
Gross amount carried at end of period, buildings and improvements	15,820
Gross amount carried at end of period, total	19,120
Accumulated depreciation	7,013
Merrifield Town Center | Falls Church, VA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	18,678
Initial cost of buildings and improvements	36,496
Adjustments to basis	497
Gross amount carried at end of period, land and improvements	18,678
Gross amount carried at end of period, buildings and improvements	36,993
Gross amount carried at end of period, total	55,671
Accumulated depreciation	2,716
Merrifield Town Center II | Falls Church, VA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	28,797
Initial cost of buildings and improvements	14,698
Adjustments to basis	22
Gross amount carried at end of period, land and improvements	28,797
Gross amount carried at end of period, buildings and improvements	14,720
Gross amount carried at end of period, total	43,517
Accumulated depreciation	533
New Forest Crossing | Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,390
Initial cost of buildings and improvements	11,313
Adjustments to basis	66
Gross amount carried at end of period, land and improvements	4,390
Gross amount carried at end of period, buildings and improvements	11,379
Gross amount carried at end of period, total	15,769
Accumulated depreciation	1,550
Newnan Crossing I & II | Newnan, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	15,100
Initial cost of buildings and improvements	33,987
Adjustments to basis	6,579
Gross amount carried at end of period, land and improvements	15,100
Gross amount carried at end of period, buildings and improvements	40,566
Gross amount carried at end of period, total	55,666
Accumulated depreciation	18,063
Newton Crossroads | Covington, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	3,478
Initial cost of land	3,350
Initial cost of buildings and improvements	6,927
Adjustments to basis	541
Gross amount carried at end of period, land and improvements	3,350
Gross amount carried at end of period, buildings and improvements	7,468
Gross amount carried at end of period, total	10,818
Accumulated depreciation	3,110
North Rivers Towne Center | Charleston, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	9,360
Initial cost of land	3,350
Initial cost of buildings and improvements	15,720
Adjustments to basis	570
Gross amount carried at end of period, land and improvements	3,350
Gross amount carried at end of period, buildings and improvements	16,290
Gross amount carried at end of period, total	19,640
Accumulated depreciation	7,444
Northgate North | Seattle, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	26,186
Initial cost of land	7,540
Initial cost of buildings and improvements	49,078
Adjustments to basis	(14,262)
Gross amount carried at end of period, land and improvements	7,540
Gross amount carried at end of period, buildings and improvements	34,816
Gross amount carried at end of period, total	42,356
Accumulated depreciation	16,401
Northpointe Plaza | Spokane, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	21,651
Initial cost of land	13,800
Initial cost of buildings and improvements	37,707
Adjustments to basis	4,463
Gross amount carried at end of period, land and improvements	13,800
Gross amount carried at end of period, buildings and improvements	42,170
Gross amount carried at end of period, total	55,970
Accumulated depreciation	19,119
Northwood Crossing | Northport, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,770
Initial cost of buildings and improvements	13,658
Adjustments to basis	1,210
Gross amount carried at end of period, land and improvements	3,770
Gross amount carried at end of period, buildings and improvements	14,868
Gross amount carried at end of period, total	18,638
Accumulated depreciation	5,966
Northwoods Center | Wesley Chapel, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	7,914
Initial cost of land	3,415
Initial cost of buildings and improvements	9,475
Adjustments to basis	6,668
Gross amount carried at end of period, land and improvements	3,415
Gross amount carried at end of period, buildings and improvements	16,143
Gross amount carried at end of period, total	19,558
Accumulated depreciation	7,007
Oak Brook Promenade | Oak Brook, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	10,343
Initial cost of buildings and improvements	50,057
Adjustments to basis	1,245
Gross amount carried at end of period, land and improvements	10,343
Gross amount carried at end of period, buildings and improvements	51,302
Gross amount carried at end of period, total	61,645
Accumulated depreciation	1,611
One Loudoun Downtown | Ashburn, VA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	22,113
Initial cost of buildings and improvements	91,138
Adjustments to basis	1
Gross amount carried at end of period, land and improvements	22,113
Gross amount carried at end of period, buildings and improvements	91,139
Gross amount carried at end of period, total	113,252
Accumulated depreciation	322
Orange Plaza (Golfland Plaza) | Orange, CT
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,350
Initial cost of buildings and improvements	4,834
Adjustments to basis	2,366
Gross amount carried at end of period, land and improvements	4,350
Gross amount carried at end of period, buildings and improvements	7,200
Gross amount carried at end of period, total	11,550
Accumulated depreciation	2,879
The Orchard | New Hartford, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,200
Initial cost of buildings and improvements	17,151
Adjustments to basis	250
Gross amount carried at end of period, land and improvements	3,200
Gross amount carried at end of period, buildings and improvements	17,401
Gross amount carried at end of period, total	20,601
Accumulated depreciation	7,170
Oswego Commons | Oswego, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	6,454
Initial cost of buildings and improvements	16,004
Adjustments to basis	465
Gross amount carried at end of period, land and improvements	6,454
Gross amount carried at end of period, buildings and improvements	16,469
Gross amount carried at end of period, total	22,923
Accumulated depreciation	1,931
Page Field Commons | Fort Myers, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	0
Initial cost of buildings and improvements	43,355
Adjustments to basis	1,156
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	44,511
Gross amount carried at end of period, total	44,511
Accumulated depreciation	18,522
Paradise Valley Marketplace | Phoenix, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	8,565
Initial cost of land	6,590
Initial cost of buildings and improvements	20,425
Adjustments to basis	756
Gross amount carried at end of period, land and improvements	6,590
Gross amount carried at end of period, buildings and improvements	21,181
Gross amount carried at end of period, total	27,771
Accumulated depreciation	9,931
Parkway Towne Crossing | Frisco, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	6,142
Initial cost of buildings and improvements	20,423
Adjustments to basis	8,740
Gross amount carried at end of period, land and improvements	6,142
Gross amount carried at end of period, buildings and improvements	29,163
Gross amount carried at end of period, total	35,305
Accumulated depreciation	11,011
Pavillion at Kings Grant I & II | Concord, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	10,274
Initial cost of buildings and improvements	12,392
Adjustments to basis	12,243
Gross amount carried at end of period, land and improvements	10,274
Gross amount carried at end of period, buildings and improvements	24,635
Gross amount carried at end of period, total	34,909
Accumulated depreciation	9,357
Pelham Manor Shopping Plaza | Pelham Manor, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	0
Initial cost of buildings and improvements	67,870
Adjustments to basis	62
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	67,932
Gross amount carried at end of period, total	67,932
Accumulated depreciation	8,615
Peoria Crossings I & II | Peoria, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	24,082
Initial cost of land	6,995
Initial cost of buildings and improvements	32,816
Adjustments to basis	3,909
Gross amount carried at end of period, land and improvements	8,495
Gross amount carried at end of period, buildings and improvements	35,225
Gross amount carried at end of period, total	43,720
Accumulated depreciation	16,227
Phenix Crossing | Phenix City, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	3,875
Initial cost of land	2,600
Initial cost of buildings and improvements	6,776
Adjustments to basis	343
Gross amount carried at end of period, land and improvements	2,600
Gross amount carried at end of period, buildings and improvements	7,119
Gross amount carried at end of period, total	9,719
Accumulated depreciation	3,165
Placentia Town Center | Placentia, CA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	10,334
Initial cost of land	11,200
Initial cost of buildings and improvements	11,751
Adjustments to basis	2,413
Gross amount carried at end of period, land and improvements	11,200
Gross amount carried at end of period, buildings and improvements	14,164
Gross amount carried at end of period, total	25,364
Accumulated depreciation	5,921
Plaza at Marysville | Marysville, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	8,565
Initial cost of land	6,600
Initial cost of buildings and improvements	13,728
Adjustments to basis	866
Gross amount carried at end of period, land and improvements	6,600
Gross amount carried at end of period, buildings and improvements	14,594
Gross amount carried at end of period, total	21,194
Accumulated depreciation	6,520
Plaza Santa Fe II | Santa Fe, NM
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	0
Initial cost of buildings and improvements	28,588
Adjustments to basis	3,389
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	31,977
Gross amount carried at end of period, total	31,977
Accumulated depreciation	14,870
Pleasant Run | Cedar Hill, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	12,773
Initial cost of land	4,200
Initial cost of buildings and improvements	29,085
Adjustments to basis	7,091
Gross amount carried at end of period, land and improvements	4,200
Gross amount carried at end of period, buildings and improvements	36,176
Gross amount carried at end of period, total	40,376
Accumulated depreciation	14,212
Quakertown | Quakertown, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	2,400
Initial cost of buildings and improvements	9,246
Adjustments to basis	43
Gross amount carried at end of period, land and improvements	2,400
Gross amount carried at end of period, buildings and improvements	9,289
Gross amount carried at end of period, total	11,689
Accumulated depreciation	3,853
Red Bug Village | Winter Springs, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,790
Initial cost of buildings and improvements	6,178
Adjustments to basis	336
Gross amount carried at end of period, land and improvements	1,790
Gross amount carried at end of period, buildings and improvements	6,514
Gross amount carried at end of period, total	8,304
Accumulated depreciation	2,722
Reisterstown Road Plaza | Baltimore, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	46,182
Initial cost of land	15,800
Initial cost of buildings and improvements	70,372
Adjustments to basis	6,420
Gross amount carried at end of period, land and improvements	15,791
Gross amount carried at end of period, buildings and improvements	76,801
Gross amount carried at end of period, total	92,592
Accumulated depreciation	33,874
Rite Aid Store (Eckerd) | Columbia, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	1,535
Initial cost of land	900
Initial cost of buildings and improvements	2,377
Adjustments to basis	0
Gross amount carried at end of period, land and improvements	900
Gross amount carried at end of period, buildings and improvements	2,377
Gross amount carried at end of period, total	3,277
Accumulated depreciation	1,126
Rite Aid Store (Eckerd) | Crossville, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	1,224
Initial cost of land	600
Initial cost of buildings and improvements	2,033
Adjustments to basis	1
Gross amount carried at end of period, land and improvements	600
Gross amount carried at end of period, buildings and improvements	2,034
Gross amount carried at end of period, total	2,634
Accumulated depreciation	938
Rite Aid Store (Eckerd) | Greer, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	1,473
Initial cost of land	1,050
Initial cost of buildings and improvements	2,047
Adjustments to basis	1
Gross amount carried at end of period, land and improvements	1,050
Gross amount carried at end of period, buildings and improvements	2,048
Gross amount carried at end of period, total	3,098
Accumulated depreciation	944
Rite Aid Store (Eckerd) | Kill Devil Hills, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	1,753
Initial cost of land	700
Initial cost of buildings and improvements	2,960
Adjustments to basis	1
Gross amount carried at end of period, land and improvements	700
Gross amount carried at end of period, buildings and improvements	2,961
Gross amount carried at end of period, total	3,661
Accumulated depreciation	1,366
Rite Aid Store (Eckerd), Culver Rd. | Rochester, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,590
Initial cost of buildings and improvements	2,279
Adjustments to basis	(3,380)
Gross amount carried at end of period, land and improvements	265
Gross amount carried at end of period, buildings and improvements	224
Gross amount carried at end of period, total	489
Accumulated depreciation	0
Rivery Town Crossing | Georgetown, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	2,900
Initial cost of buildings and improvements	6,814
Adjustments to basis	384
Gross amount carried at end of period, land and improvements	2,900
Gross amount carried at end of period, buildings and improvements	7,198
Gross amount carried at end of period, total	10,098
Accumulated depreciation	2,762
Royal Oaks Village II | Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,450
Initial cost of buildings and improvements	17,000
Adjustments to basis	272
Gross amount carried at end of period, land and improvements	3,450
Gross amount carried at end of period, buildings and improvements	17,272
Gross amount carried at end of period, total	20,722
Accumulated depreciation	5,039
Saucon Valley Square | Bethlehem, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	7,941
Initial cost of land	3,200
Initial cost of buildings and improvements	12,642
Adjustments to basis	(9,645)
Gross amount carried at end of period, land and improvements	1,818
Gross amount carried at end of period, buildings and improvements	4,379
Gross amount carried at end of period, total	6,197
Accumulated depreciation	87
Sawyer Heights Village | Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	18,824
Initial cost of land	24,214
Initial cost of buildings and improvements	15,797
Adjustments to basis	705
Gross amount carried at end of period, land and improvements	24,214
Gross amount carried at end of period, buildings and improvements	16,502
Gross amount carried at end of period, total	40,716
Accumulated depreciation	2,165
Schaumburg Towers | Schaumburg, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	7,900
Initial cost of buildings and improvements	137,096
Adjustments to basis	405
Gross amount carried at end of period, land and improvements	7,900
Gross amount carried at end of period, buildings and improvements	137,501
Gross amount carried at end of period, total	145,401
Accumulated depreciation	58,553
Shoppes at Hagerstown | Hagerstown, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	4,034
Initial cost of buildings and improvements	21,937
Adjustments to basis	131
Gross amount carried at end of period, land and improvements	4,034
Gross amount carried at end of period, buildings and improvements	22,068
Gross amount carried at end of period, total	26,102
Accumulated depreciation	987
Shoppes at Park West | Mt. Pleasant, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	4,940
Initial cost of land	2,240
Initial cost of buildings and improvements	9,357
Adjustments to basis	78
Gross amount carried at end of period, land and improvements	2,240
Gross amount carried at end of period, buildings and improvements	9,435
Gross amount carried at end of period, total	11,675
Accumulated depreciation	4,201
The Shoppes at Quarterfield | Severn, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	2,190
Initial cost of buildings and improvements	8,840
Adjustments to basis	193
Gross amount carried at end of period, land and improvements	2,190
Gross amount carried at end of period, buildings and improvements	9,033
Gross amount carried at end of period, total	11,223
Accumulated depreciation	4,232
The Shoppes at Union Hill | Denville, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	14,757
Initial cost of land	12,666
Initial cost of buildings and improvements	45,227
Adjustments to basis	38
Gross amount carried at end of period, land and improvements	12,666
Gross amount carried at end of period, buildings and improvements	45,265
Gross amount carried at end of period, total	57,931
Accumulated depreciation	1,482
Shoppes of New Hope | Dallas, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	3,362
Initial cost of land	1,350
Initial cost of buildings and improvements	11,045
Adjustments to basis	20
Gross amount carried at end of period, land and improvements	1,350
Gross amount carried at end of period, buildings and improvements	11,065
Gross amount carried at end of period, total	12,415
Accumulated depreciation	5,060
Shoppes of Prominence Point I & II | Canton, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,650
Initial cost of buildings and improvements	12,652
Adjustments to basis	203
Gross amount carried at end of period, land and improvements	3,650
Gross amount carried at end of period, buildings and improvements	12,855
Gross amount carried at end of period, total	16,505
Accumulated depreciation	5,901
Shops at Forest Commons | Round Rock, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,050
Initial cost of buildings and improvements	6,133
Adjustments to basis	294
Gross amount carried at end of period, land and improvements	1,050
Gross amount carried at end of period, buildings and improvements	6,427
Gross amount carried at end of period, total	7,477
Accumulated depreciation	2,807
The Shops at Legacy | Plano, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	8,800
Initial cost of buildings and improvements	108,940
Adjustments to basis	15,243
Gross amount carried at end of period, land and improvements	8,800
Gross amount carried at end of period, buildings and improvements	124,183
Gross amount carried at end of period, total	132,983
Accumulated depreciation	43,545
Shops at Park Place | Plano, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	7,503
Initial cost of land	9,096
Initial cost of buildings and improvements	13,175
Adjustments to basis	1,082
Gross amount carried at end of period, land and improvements	9,096
Gross amount carried at end of period, buildings and improvements	14,257
Gross amount carried at end of period, total	23,353
Accumulated depreciation	6,969
Southlake Corners | Southlake, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	21,090
Initial cost of land	6,612
Initial cost of buildings and improvements	23,605
Adjustments to basis	82
Gross amount carried at end of period, land and improvements	6,612
Gross amount carried at end of period, buildings and improvements	23,687
Gross amount carried at end of period, total	30,299
Accumulated depreciation	3,009
Southlake Town Square I - VII | Southlake, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	43,790
Initial cost of buildings and improvements	201,028
Adjustments to basis	23,258
Gross amount carried at end of period, land and improvements	41,603
Gross amount carried at end of period, buildings and improvements	226,473
Gross amount carried at end of period, total	268,076
Accumulated depreciation	84,812
Stilesboro Oaks | Acworth, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	4,725
Initial cost of land	2,200
Initial cost of buildings and improvements	9,426
Adjustments to basis	473
Gross amount carried at end of period, land and improvements	2,200
Gross amount carried at end of period, buildings and improvements	9,899
Gross amount carried at end of period, total	12,099
Accumulated depreciation	4,216
Stonebridge Plaza | McKinney, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,000
Initial cost of buildings and improvements	5,783
Adjustments to basis	427
Gross amount carried at end of period, land and improvements	1,000
Gross amount carried at end of period, buildings and improvements	6,210
Gross amount carried at end of period, total	7,210
Accumulated depreciation	2,593
Stony Creek I | Noblesville, IN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	7,947
Initial cost of land	6,735
Initial cost of buildings and improvements	17,564
Adjustments to basis	1,739
Gross amount carried at end of period, land and improvements	6,735
Gross amount carried at end of period, buildings and improvements	19,303
Gross amount carried at end of period, total	26,038
Accumulated depreciation	9,234
Stony Creek II | Noblesville, IN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,900
Initial cost of buildings and improvements	5,106
Adjustments to basis	79
Gross amount carried at end of period, land and improvements	1,900
Gross amount carried at end of period, buildings and improvements	5,185
Gross amount carried at end of period, total	7,085
Accumulated depreciation	2,112
Streets of Yorktown | Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	3,440
Initial cost of buildings and improvements	22,111
Adjustments to basis	2,893
Gross amount carried at end of period, land and improvements	3,440
Gross amount carried at end of period, buildings and improvements	25,004
Gross amount carried at end of period, total	28,444
Accumulated depreciation	10,017
Tacoma South | Tacoma, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	10,976
Initial cost of buildings and improvements	22,898
Adjustments to basis	5
Gross amount carried at end of period, land and improvements	10,976
Gross amount carried at end of period, buildings and improvements	22,903
Gross amount carried at end of period, total	33,879
Accumulated depreciation	617
Target South Center | Austin, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	2,300
Initial cost of buildings and improvements	8,760
Adjustments to basis	727
Gross amount carried at end of period, land and improvements	2,300
Gross amount carried at end of period, buildings and improvements	9,487
Gross amount carried at end of period, total	11,787
Accumulated depreciation	3,951
Tollgate Marketplace | Bel Air, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	34,933
Initial cost of land	8,700
Initial cost of buildings and improvements	61,247
Adjustments to basis	7,081
Gross amount carried at end of period, land and improvements	8,700
Gross amount carried at end of period, buildings and improvements	68,328
Gross amount carried at end of period, total	77,028
Accumulated depreciation	29,407
Town Square Plaza | Pottstown, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	16,760
Initial cost of land	9,700
Initial cost of buildings and improvements	18,264
Adjustments to basis	1,668
Gross amount carried at end of period, land and improvements	9,700
Gross amount carried at end of period, buildings and improvements	19,932
Gross amount carried at end of period, total	29,632
Accumulated depreciation	8,009
Towson Circle | Towson, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	9,050
Initial cost of buildings and improvements	17,840
Adjustments to basis	(26,835)
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	55
Gross amount carried at end of period, total	55
Accumulated depreciation	0
Towson Square | Towson, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	13,757
Initial cost of buildings and improvements	21,958
Adjustments to basis	(174)
Gross amount carried at end of period, land and improvements	13,757
Gross amount carried at end of period, buildings and improvements	21,784
Gross amount carried at end of period, total	35,541
Accumulated depreciation	959
Tysons Corner | Vienna, VA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	22,525
Initial cost of buildings and improvements	7,184
Adjustments to basis	15
Gross amount carried at end of period, land and improvements	22,525
Gross amount carried at end of period, buildings and improvements	7,199
Gross amount carried at end of period, total	29,724
Accumulated depreciation	426
University Town Center | Tuscaloosa, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	4,140
Initial cost of land	0
Initial cost of buildings and improvements	9,557
Adjustments to basis	337
Gross amount carried at end of period, land and improvements	0
Gross amount carried at end of period, buildings and improvements	9,894
Gross amount carried at end of period, total	9,894
Accumulated depreciation	4,337
Village Shoppes at Gainesville | Gainesville, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	19,325
Initial cost of land	4,450
Initial cost of buildings and improvements	36,592
Adjustments to basis	1,975
Gross amount carried at end of period, land and improvements	4,450
Gross amount carried at end of period, buildings and improvements	38,567
Gross amount carried at end of period, total	43,017
Accumulated depreciation	15,727
Village Shoppes at Simonton | Lawrenceville, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	3,102
Initial cost of land	2,200
Initial cost of buildings and improvements	10,874
Adjustments to basis	24
Gross amount carried at end of period, land and improvements	2,200
Gross amount carried at end of period, buildings and improvements	10,898
Gross amount carried at end of period, total	13,098
Accumulated depreciation	4,953
Walter's Crossing | Tampa, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	14,500
Initial cost of buildings and improvements	16,914
Adjustments to basis	544
Gross amount carried at end of period, land and improvements	14,500
Gross amount carried at end of period, buildings and improvements	17,458
Gross amount carried at end of period, total	31,958
Accumulated depreciation	6,837
Watauga Pavillion | Watauga, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	5,185
Initial cost of buildings and improvements	27,504
Adjustments to basis	986
Gross amount carried at end of period, land and improvements	5,185
Gross amount carried at end of period, buildings and improvements	28,490
Gross amount carried at end of period, total	33,675
Accumulated depreciation	12,913
West Town Market | Fort Hill, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	1,170
Initial cost of buildings and improvements	10,488
Adjustments to basis	193
Gross amount carried at end of period, land and improvements	1,170
Gross amount carried at end of period, buildings and improvements	10,681
Gross amount carried at end of period, total	11,851
Accumulated depreciation	4,517
Wilton Square | Saratoga Springs, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	8,200
Initial cost of buildings and improvements	35,538
Adjustments to basis	371
Gross amount carried at end of period, land and improvements	8,200
Gross amount carried at end of period, buildings and improvements	35,909
Gross amount carried at end of period, total	44,109
Accumulated depreciation	14,949
Winchester Commons | Memphis, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	5,291
Initial cost of land	4,400
Initial cost of buildings and improvements	7,471
Adjustments to basis	571
Gross amount carried at end of period, land and improvements	4,400
Gross amount carried at end of period, buildings and improvements	8,042
Gross amount carried at end of period, total	12,442
Accumulated depreciation	3,418
Woodinville Plaza | Woodinville, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	16,073
Initial cost of buildings and improvements	25,433
Adjustments to basis	896
Gross amount carried at end of period, land and improvements	16,073
Gross amount carried at end of period, buildings and improvements	26,329
Gross amount carried at end of period, total	42,402
Accumulated depreciation	1,378
Total Operating Properties
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	769,184
Initial cost of land	1,208,948
Initial cost of buildings and improvements	4,039,199
Adjustments to basis	227,920
Gross amount carried at end of period, land and improvements	1,191,403
Gross amount carried at end of period, buildings and improvements	4,284,664
Gross amount carried at end of period, total	5,476,067
Accumulated depreciation	1,443,333
Developments in Progress
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrance	0
Initial cost of land	15,541
Initial cost of buildings and improvements	7,898
Adjustments to basis	0
Gross amount carried at end of period, land and improvements	15,541
Gross amount carried at end of period, buildings and improvements	7,898
Gross amount carried at end of period, total	23,439
Accumulated depreciation	$ 0
Building and associated improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Estimated useful life (in years)	30 years
Site improvements and most other capital improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Estimated useful life (in years)	15 years

Schedule III _ Reconciliation o

Schedule III – Reconciliation of Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance as of January 1,	$ 5,687,842	$ 5,680,376	$ 5,804,518
Purchase of investment property	435,989	508,924	397,993
Sale of investment property	(526,970)	(498,833)	(338,938)
Property held for sale	(47,151)	0	(36,914)
Provision for asset impairment	(47,159)	(4,786)	(159,447)
Acquired lease intangible assets	4,586	(15,311)	5,579
Acquired lease intangible liabilities	(7,631)	17,472	7,585
Balance as of December 31,	$ 5,499,506	$ 5,687,842	$ 5,680,376

Schedule III _ Reconciliation84

Schedule III – Reconciliation of Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance as of January 1,	$ 1,433,195	$ 1,365,471	$ 1,330,474
Depreciation expense	191,493	183,639	183,142
Sale of investment property	(118,925)	(111,346)	(63,460)
Property held for sale	(15,769)	0	(5,358)
Provision for asset impairment	(18,500)	(2,497)	(77,390)
Write-offs due to early lease termination	(3,947)	(2,072)	(1,937)
Other disposals	(24,214)	0	0
Balance as of December 31,	$ 1,443,333	$ 1,433,195	$ 1,365,471