Gladstone Commercial (GOOD) 10-K 16 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 16, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity Central Index Key	0001234006
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity File Number	001-33097
Entity Registrant Name	GLADSTONE COMMERCIAL CORP
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	02-0681276
Entity Address, Address Line One	1521 Westbranch Drive,
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	McLean,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102
City Area Code	703
Local Phone Number	287-5800
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 624,884,164
Entity Common Stock, Shares Outstanding		35,734,269
Documents Incorporated by Reference	Portions of the Registrant’s Proxy Statement, to be filed no later than April 30, 2021, relating to the Registrant’s 2021 Annual Meeting of Stockholders, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	GOOD
Security Exchange Name	NASDAQ
7.00% Series D Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.00% Series D Cumulative Redeemable Preferred Stock, par value $0.001 per share
Trading Symbol	GOODM
Security Exchange Name	NASDAQ
6.625% Series E Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	6.625% Series E Cumulative Redeemable Preferred Stock, par value $0.001 per share
Trading Symbol	GOODN
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
ASSETS
Real estate, at cost		$ 1,128,683	$ 1,056,978
Less: accumulated depreciation		228,468	207,523
Total real estate, net		900,215	849,455
Lease intangibles, net		117,379	115,465
Real estate and related assets held for sale		8,498	3,990
Cash and cash equivalents		11,016	6,849
Restricted cash		5,060	4,639
Funds held in escrow		9,145	7,226
Right-of-use assets from operating leases		5,582	5,794
Deferred rent receivable, net		36,555	37,177
Other assets		4,458	8,913
TOTAL ASSETS		1,097,908	1,039,508
LIABILITIES
Mortgage notes payable, net	[1]	456,177	453,739
Borrowings under Revolver, net		53,312	51,579
Borrowings under Term Loan, net		159,203	121,276
Deferred rent liability, net		20,633	19,322
Operating lease liabilities		5,687	5,847
Asset retirement obligation		3,086	3,137
Accounts payable and accrued expenses		4,459	5,573
Liabilities related to assets held for sale		0	21
Due to Adviser and Administrator	[1]	2,960	2,904
Other liabilities		17,068	12,920
TOTAL LIABILITIES		722,585	676,318
Commitments and contingencies	[2]
MEZZANINE EQUITY
Series D and E redeemable preferred stock, net, par value $0.001 per share; $25 per share liquidation preference; 12,760,000 shares authorized; and 6,508,954 and 6,269,555 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	[3]	159,286	152,153
EQUITY
Senior common stock, par value $0.001 per share; 950,000 shares authorized; and 766,492 and 806,435 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	[3]	1	1
Common stock, par value $0.001 per share, 60,290,000 and 86,290,000 shares authorized and 34,183,869 and 32,593,651 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	[3]	35	32
Series A and B redeemable preferred stock, par value $0.001 per share; $25 per share liquidation preference; 26,000,000 and 0 shares authorized and 45,102 and 0 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	[3]	0	0
Additional paid in capital		626,533	571,205
Accumulated other comprehensive income		(4,345)	(2,126)
Distributions in excess of accumulated earnings		(409,041)	(360,978)
TOTAL STOCKHOLDERS' EQUITY		213,183	208,134
OP Units held by Non-controlling OP Unitholders	[3]	2,854	2,903
TOTAL EQUITY		216,037	211,037
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY		$ 1,097,908	$ 1,039,508
[1]	Refer to Note 2 “Related-Party Transactions ”
[2]	Refer to Note 7 “Commitments and Contingencies ”
[3]	Refer to Note 8 “Equity and Mezzanine Equity”

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Senior common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Senior common stock, shares authorized (in shares)	950,000	950,000
Senior common stock, shares issued (in shares)	750,372	806,435
Senior common stock, shares outstanding (in shares)	750,372	806,435
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	60,290,000	86,290,000
Common stock, shares issued (in shares)	35,331,970	32,593,651
Common stock, shares outstanding (in shares)	35,331,970	32,593,651
Series D and E Preferred Stock
Redeemable preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Redeemable preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Redeemable preferred stock, shares authorized (in shares)	12,760,000	12,760,000
Redeemable preferred stock, shares issued (in shares)	6,571,003	6,269,555
Redeemable preferred stock, shares outstanding (in shares)	6,571,003	6,269,555
Series F Preferred Stock
Redeemable preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Redeemable preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Redeemable preferred stock, shares authorized (in shares)	26,000,000	0
Redeemable preferred stock, shares issued (in shares)	116,674	0
Redeemable preferred stock, shares outstanding (in shares)	116,674	0

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating revenues
Lease revenue		$ 133,152	$ 114,387
Lease revenue				$ 106,798
Revenues		133,152	114,387	106,798
Operating expenses
Depreciation and amortization		55,424	52,039	47,620
Property operating expenses		26,004	12,592	11,458
Base management fee	[1]	5,648	5,174	5,054
Incentive fee	[1]	4,301	3,688	3,042
Administration fee	[1]	1,598	1,690	1,605
General and administrative		3,259	3,235	2,358
Impairment charge		3,621	1,813	0
Total operating expenses		99,855	80,231	71,137
Other (expense) income
Interest expense		(26,803)	(28,279)	(26,172)
Gain on sale of real estate, net		8,096	2,952	2,763
Other income		395	712	72
Total other expense, net		(18,312)	(24,615)	(23,337)
Net income		14,985	9,541	12,324
Net (income) loss (available) attributable to OP Units held by Non-controlling OP Unitholders		(47)	87	(4)
Net income attributable to the Company		14,938	9,628	12,320
Distributions attributable to Series A, B, D, E, and F preferred stock		(10,973)	(10,822)	(10,416)
Series A and B Preferred Stock offering costs write off		0	(2,674)	0
Distributions attributable to senior common stock		(816)	(892)	(931)
Net income (loss) available (attributable) to common stockholders		$ 3,149	$ (4,760)	$ 973
Earnings (loss) per weighted average share of common stock - basic & diluted
(Loss) earnings (attributable) available to common shareholders (in dollars per share)		$ 0.09	$ (0.16)	$ 0.03
Weighted average shares of common stock outstanding
Basic and Diluted (in shares)		34,040,085	30,695,902	28,675,934
Distributions declared per common share (in dollars per share)		$ 1.5018	$ 1.5000	$ 1.5000
Earnings per weighted average share of senior common stock (in dollars per share)		$ 1.05	$ 1.05	$ 1.05
Weighted average shares of senior common stock outstanding - basic (in shares)		774,658	849,348	887,081
Comprehensive income
Change in unrealized loss related to interest rate hedging instruments, net		$ (2,219)	$ (1,978)
Change in unrealized loss related to interest rate hedging instruments, net				$ (183)
Other Comprehensive loss		(2,219)	(1,978)	(183)
Comprehensive income		12,766	7,563	12,141
Comprehensive (income) loss (available) attributable to OP Units held by Non-controlling OP Unitholders		(47)	87	(4)
Total comprehensive income available to the Company		$ 12,719	$ 7,650	$ 12,137
[1]	Refer to Note 2 “Related-Party Transactions”

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Series F Preferred Stock	Series A and B Preferred Stock	Common Stock and Non-controlling OP Units	Common Stock and Non-controlling OP UnitsSenior Common Stock	Additional Paid in Capital	AOCI Attributable to Parent	Distributions in Excess of Accumulated Earnings	Total Stockholders' Equity	Non-Controlling Interest
Beginning balance (in shares) at Dec. 31, 2017			2,264,000	28,384,016	904,819
Beginning balance at Dec. 31, 2017	$ 266,798		$ 2	$ 28	$ 1	$ 534,790	$ 35	$ (268,058)	$ 266,798	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Series A and B preferred stock and common stock, net (in shares)				841,338
Issuance of common stock and Series F preferred stock, net	16,104			$ 1		16,103			16,104
Conversion of senior common stock to common stock (in shares)				(29,545)	(36,294)
Conversion of senior common stock to common stock	0
Retirement of senior common stock (in shares)					(2,266)
Retirement of senior common stock, net	(34)					(34)			(34)
Distributions declared to common, senior common, preferred stockholders and Non-controlling OP Unit holders	(54,565)							(54,379)	(54,379)	(186)
Comprehensive income	(183)						(183)		(183)
Redemptions of OP Units	13,975									13,975
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership	0					9,118			9,118	(9,118)
Net income (loss)	12,324							12,320	12,320	4
Ending balance (in shares) at Dec. 31, 2018			2,264,000	29,254,899	866,259
Ending balance at Dec. 31, 2018	254,419		$ 2	$ 29	$ 1	559,977	(148)	(310,117)	249,744	4,675
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Series A and B preferred stock and common stock, net (in shares)				3,025,727
Issuance of common stock and Series F preferred stock, net	64,542			$ 3		64,539			64,542
Conversion of senior common stock to common stock (in shares)				(49,725)	(59,824)
Conversion of senior common stock to common stock	0
Redemption of Series A and B preferred stock, net (in shares)			(2,264,000)	(263,300)
Redemption of Series A and B preferred stock, net	(56,600)		$ (2)			(53,924)		(2,674)	(56,600)
Distributions declared to common, senior common, preferred stockholders and Non-controlling OP Unit holders	(58,887)					(23)		(57,815)	(57,838)	(1,049)
Comprehensive income	(1,978)						(1,978)		(1,978)
Redemptions of OP Units	0					6,143			6,143	(6,143)
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership	0					(5,507)			(5,507)	5,507
Net income (loss)	9,541							9,628	9,628	(87)
Ending balance (in shares) at Dec. 31, 2019			0	32,593,651	806,435
Ending balance at Dec. 31, 2019	211,037		$ 0	$ 32	$ 1	571,205	(2,126)	(360,978)	208,134	2,903
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Series A and B preferred stock and common stock, net (in shares)		116,674		2,691,971
Issuance of common stock and Series F preferred stock, net	55,488			$ 3		55,485			55,488
Conversion of senior common stock to common stock (in shares)				(46,348)	(56,063)
Conversion of senior common stock to common stock	0
Distributions declared to common, senior common, preferred stockholders and Non-controlling OP Unit holders	(63,757)					0		(63,001)	(63,001)	(756)
Comprehensive income	(2,219)						(2,219)		(2,219)
Redemptions of OP Units	503									503
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership	0					(157)			(157)	157
Net income (loss)	14,985							14,938	14,938	47
Ending balance (in shares) at Dec. 31, 2020		116,674	0	35,331,970	750,372
Ending balance at Dec. 31, 2020	$ 216,037		$ 0	$ 35	$ 1	$ 626,533	$ (4,345)	$ (409,041)	$ 213,183	$ 2,854

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 14,985,000	$ 9,541,000	$ 12,324,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	55,424,000	52,039,000	47,620,000
Impairment charge	3,621,000	1,813,000	0
Gain on sale of real estate, net	(8,096,000)	(2,952,000)	(2,763,000)
Amortization of deferred financing costs	1,531,000	1,641,000	1,445,000
Amortization of deferred rent asset and liability, net	(1,930,000)	(1,446,000)	(728,000)
Amortization of discount and premium on assumed debt, net	57,000	62,000	(20,000)
Asset retirement obligation expense	98,000	119,000	121,000
Amortization of right-of-use asset from operating leases and operating lease liabilities, net	52,000	53,000	0
Bad debt expense	56,000	152,000	0
Operating changes in assets and liabilities
Decrease (increase) in other assets	2,875,000	(2,170,000)	(445,000)
Increase in deferred rent receivable	(1,899,000)	(1,477,000)	(2,548,000)
(Decrease) increase in accounts payable and accrued expenses	(1,680,000)	1,540,000	515,000
Increase in amount due to Adviser and Administrator	56,000	381,000	234,000
Increase in other liabilities	1,808,000	2,075,000	246,000
Leasing commissions paid	(1,464,000)	(1,177,000)	(402,000)
Net cash provided by operating activities	65,494,000	60,194,000	55,599,000
Cash flows from investing activities:
Acquisition of real estate and related intangible assets	(127,931,000)	(130,313,000)	(42,353,000)
Improvements of existing real estate	(6,360,000)	(7,570,000)	(4,328,000)
Proceeds from sale of real estate	35,834,000	6,318,000	12,835,000
Receipts from lenders for funds held in escrow	1,310,000	2,664,000	1,769,000
Payments to lenders for funds held in escrow	(3,229,000)	(3,880,000)	(2,376,000)
Receipts from tenants for reserves	2,406,000	4,782,000	2,682,000
Payments to tenants from reserves	(1,988,000)	(2,496,000)	(2,669,000)
Deposits on future acquisitions	(300,000)	(1,542,000)	0
Net cash used in investing activities	(100,258,000)	(132,037,000)	(34,440,000)
Cash flows from financing activities:
Proceeds from issuance of equity	63,609,000	134,527,000	18,565,000
Offering costs paid	(988,000)	(3,431,000)	(295,000)
Retirement of senior common stock	0	0	(34,000)
Redemption of Series A and B perpetual preferred stock	0	(56,600,000)	0
Borrowings under mortgage notes payable	52,578,000	69,650,000	14,125,000
Payments for deferred financing costs	(606,000)	(2,480,000)	(386,000)
Principal repayments on mortgage notes payable	(50,662,000)	(57,438,000)	(27,850,000)
Proceeds from issuance of term loan facility	37,700,000	47,300,000	0
Borrowings from revolving credit facility	142,700,000	165,400,000	88,600,000
Repayments on revolving credit facility	(141,200,000)	(163,600,000)	(59,400,000)
Decrease in security deposits	(22,000)	(192,000)	83,000
Distributions paid for common, senior common, preferred stock and Non-controlling OP Unitholders	(63,757,000)	(58,887,000)	(54,565,000)
Net cash provided by (used in) financing activities	39,352,000	74,249,000	(21,157,000)
Net increase in cash, cash equivalents, and restricted cash	4,588,000	2,406,000	2,000
Cash, cash equivalents, and restricted cash at beginning of period	11,488,000	9,082,000	9,080,000
Cash, cash equivalents, and restricted cash at end of period	16,076,000	11,488,000	9,082,000
SUPPLEMENTAL AND NON-CASH INFORMATION
Cash paid during year for interest	26,098,000	25,685,000	24,987,000
Tenant funded fixed asset improvements	2,978,000	2,787,000	1,608,000
Acquisition of real estate and related intangible assets	1,542,000	0	0
Assumed mortgage in connection with acquisition	0	0	6,918,000
Reserves released by title company to tenant	0	0	3,966,000
Capital improvements and leasing commissions included in accounts payable and accrued expenses	1,070,000	390,000	311,000
Unrealized loss related to interest rate hedging instruments, net	(2,219,000)	(1,978,000)
Unrealized loss related to interest rate hedging instruments, net			(183,000)
Increase in asset retirement obligation assumed in acquisition	0	164,000	0
Non-controlling OP Units issued in connection with acquisition	503,000	0	13,975,000
Series A and B Preferred Stock offering cost write off	0	2,674,000	0
Right-of-use asset from operating leases	0	5,998,000	0
Operating lease liabilities	0	(5,998,000)	0
Property manager other assets	0	1,676,000	0
Property manager accrued expenses and other liabilities	0	(1,676,000)	0
Total cash, cash equivalents, and restricted cash shown in the consolidated statement of cash flows	$ 11,488,000	$ 9,082,000	$ 9,082,000

Organization, Basis of Presenta

Organization, Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Basis of Presentation and Significant Accounting Policies	Organization, Basis of Presentation and Significant Accounting Policies Gladstone Commercial Corporation was incorporated under the General Corporation Law of the State of Maryland on February 14, 2003. We have elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes. We focus on acquiring, owning and managing primarily office and industrial properties. Subject to certain restrictions and limitations, our business is managed by Gladstone Management Corporation, a Delaware corporation (the “Adviser”), and administrative services are provided by Gladstone Administration, LLC, a Delaware limited liability company (the “Administrator”), each pursuant to a contractual arrangement with us. Our Adviser and Administrator collectively employ all of our personnel and pay their salaries, benefits, and general expenses directly. Gladstone Commercial Corporation conducts substantially all of its operations through a subsidiary, Gladstone Commercial Limited Partnership, a Delaware limited partnership (the “Operating Partnership”). All further references herein to “we,” “our,” “us” and the “Company” mean Gladstone Commercial Corporation and its consolidated subsidiaries, except where it is made clear that the term means only Gladstone Commercial Corporation. A ll references herein and throughout the Notes to Consolidated Financial Statements to the number of properties and square footage are unaudited. Subsidiaries We conduct substantially all of our operations through the Operating Partnership. We currently control the sole general partner of the Operating Partnership and own, directly or indirectly, a majority of the limited partnership interests in the Operating Partnership (“Non-controlling OP Units”) through two of our subsidiaries, GCLP Business Trust I and II. The financial position and results of operations of the Operating Partnership are consolidated within our financial statements. As of December 31, 2020 and 2019, the Company owned 98.6% and 98.6%, respectively, of the outstanding OP Units (See Note 8, “Equity and Mezzanine Equity” for additional discussion regarding OP Units). Gladstone Commercial Lending, LLC, a Delaware limited liability company (“Gladstone Commercial Lending”), a subsidiary of ours, was created to conduct all operations related to our real estate mortgage loans. As the Operating Partnership currently owns all of the membership interests of Gladstone Commercial Lending, the financial position and results of operations of Gladstone Commercial Lending are consolidated with ours. Gladstone Commercial Advisers, Inc., a Delaware corporation (“Commercial Advisers”), and wholly-owned taxable REIT subsidiary (“TRS”) of ours, was created to collect any non-qualifying income related to our real estate portfolio. There has been no such income earned to date. Since we own 100% of the voting securities of Commercial Advisers, the financial position and results of operations of Commercial Advisers are consolidated within our financial statements. GCLP Business Trust I and GCLP Business Trust II, each a subsidiary and business trust of ours, were formed under the laws of the Commonwealth of Massachusetts on December 28, 2005. We transferred our 99% limited partnership interest in the Operating Partnership to GCLP Business Trust I in exchange for 100 shares of the trust. Gladstone Commercial Partners, LLC, a subsidiary of ours, transferred its 1% general partnership interest in the Operating Partnership to GCLP Business Trust II in exchange for 100 trust shares. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could materially differ from those estimates. Real Estate and Lease Intangibles We record investments in real estate at cost and capitalize improvements and replacements when they extend the useful life or improve the efficiency of the asset. We expense costs of repairs and maintenance as such costs are incurred. We compute depreciation using the straight-line method over the estimated useful life, or up to 39 years, for buildings and improvements, five Most properties that we acquire are already being operated as rental properties, which we consider to be asset acquisitions under Accounting Standards Codification (“ASC”) 360, “Property Plant and Equipment” (“ASC 360”). When an acquisition is considered an asset acquisition, ASC 360 requires that the purchase price of real estate be allocated to the acquired tangible assets and liabilities, consisting of land, building, tenant improvements, long-term debt assumed and identified intangible assets and liabilities, typically the value of above-market and below-market leases, the value of in-place leases, the value of lease origination costs and the value of tenant relationships, based in each case on their fair values. ASC 360 allows us to capitalize all expenses related to an acquisition accounted for as an asset acquisition into the cost of the acquisition. Management’s estimates of fair value are made using methods similar to those used by independent appraisers (e.g. discounted cash flow analysis). Factors considered by management in its analysis include an estimate of carrying costs during hypothetical expected lease-up periods considering current market conditions and costs to execute similar leases. We also consider information obtained about each property as a result of our pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the tangible and intangible assets acquired and liabilities assumed. In estimating carrying costs, management also includes lost reimbursement of real estate taxes, insurance and other operating expenses as well as estimates of lost rents at market rates during the hypothetical expected lease-up periods, which generally range from nine We allocate purchase price to the fair value of the tangible assets of an acquired property by valuing the property as if it were vacant. The “as-if-vacant” value is allocated to land, building and tenant improvements based on management’s determination of the relative fair values of these assets on the date of acquisition. Above-market and below-market in-place lease fair values for acquired properties are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. When determining the non-cancelable term of the lease, we evaluate which fixed-rate renewal options, if any, should be included. The capitalized above-market lease values, included in the accompanying consolidated balance sheets as part of deferred rent receivable, are amortized as a reduction of rental income over the remaining non-cancelable terms of the respective leases. Total amortization related to above-market lease values was $0.8 million, $1.1 million, and $1.1 million for the years ended December 31, 2020, 2019, and 2018, respectively. The capitalized below-market lease values, included in the accompanying consolidated balance sheets as part of deferred rent liability, are amortized as an increase to rental income over the remaining non-cancelable terms of the respective leases, including any below market renewal periods. Total amortization related to below-market lease values was $2.8 million, $2.5 million, and $2.0 million for the years ended December 31, 2020, 2019, and 2018, respectively. The total amount of the remaining intangible assets acquired, which consists of in-place lease values, lease origination costs, and customer relationship intangible values, are allocated based on management’s evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant. Characteristics to be considered by management in determining these values include the nature and extent of our existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality and our expectations of lease renewals (including those existing under the terms of the lease agreement), among other factors. The value of in-place leases and lease origination costs are amortized to amortization expense over the remaining term of the respective leases, which generally range from seven Should a tenant terminate its lease, the unamortized portion of the above-market and below-market lease values would be charged to rental income and the unamortized portion of in-place lease values, lease origination costs and customer relationship intangibles will be charged to amortization expense through the revised termination date. Impairment Charges We account for the impairment of real estate in accordance with ASC 360-10-35, “Property, Plant, and Equipment,” which requires us to periodically review the carrying value of each property to determine if circumstances indicate impairment of the carrying value of the investment exists or that depreciation periods should be modified. If circumstances indicate the possibility of impairment, we prepare a projection of the undiscounted future cash flows, without interest charges, of the specific property and determine if the carrying value of the investment in such property is recoverable. In performing the analysis, we consider such factors as each tenant’s payment history and financial condition, the likelihood of lease renewal, business conditions in the industry in which the tenants operate, whether there are indications that the fair value of the real estate has decreased or our intended holding period of the property is shortened. If the carrying amount is more than the aggregate undiscounted future cash flows, we would recognize an impairment loss to the extent the carrying amount exceeds the estimated fair value of the property. We evaluate our entire portfolio of properties each quarter for any impairment indicators and perform an impairment analysis on those select properties that have an indication of impairment. Held for Sale Property For properties considered held for sale, we cease depreciating and amortizing the property and value the property at the lower of depreciated and amortized cost or fair value, less costs to dispose. We present qualifying assets and liabilities and the results of operations that have been sold, or otherwise qualify as held for sale, as discontinued operations in all periods when the sale meets the definition of discontinued operations. Under GAAP, the definition of discontinued operations is the disposal of a component or group of components that is disposed or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on our operations and financial results. The components of the property’s net income (loss) that are reflected as discontinued operations if classified as such include operating results, depreciation, amortization, and interest expense. When properties are considered held for sale, but do not qualify as a discontinued operation, we present qualifying assets and liabilities as held for sale in the consolidated balance sheet in all periods that the qualifying assets and liabilities meet the held for sale criteria under ASC 360-10-49-9. The components of the held for sale property’s net income (loss) is recorded within continuing operations under the consolidated statement of operations and comprehensive income. Cash and Cash Equivalents We consider cash equivalents to be short-term, highly-liquid investments that are both readily convertible to cash and have a maturity of three months or less at the time of purchase, except that any such investments purchased with funds held in escrow or similar accounts are classified as restricted cash. Items classified as cash equivalents include money-market deposit accounts. At times, the balance of our cash and cash equivalents may exceed federally insurable limits. Restricted Cash Restricted cash consists of security deposits and receipts from tenants for reserves. These funds will be released to the tenants upon completion of agreed upon tasks, as specified in the lease agreements, mainly consisting of maintenance and repairs on the buildings and upon receipt by us of evidence of insurance and tax payments. For purposes of the consolidated statements of cash flows, changes in restricted cash caused by changes in reserves held for tenants are shown as investing activities. Changes in restricted cash caused by changes in security deposits are reflected as financing activities. Funds Held in Escrow Funds held in escrow consist of funds held by certain of our lenders for properties held as collateral by these lenders. These funds will be released to us upon completion of agreed upon tasks, as specified in the mortgage agreements, mainly consisting of maintenance and repairs on the buildings, and when evidence of insurance and tax payments has been submitted to the lenders. For the purposes of the consolidated statements of cash flows, changes in funds held in escrow caused by changes in lender held reserve balances are shown as investing activities. Deferred Financing Costs Deferred financing costs consist of costs incurred to obtain financing, including legal fees, origination fees and administrative fees. The costs are deferred and amortized using the straight-line method, which approximates the effective interest method, over the term of the secured financing. We made payments of $0.6 million, $2.5 million, and $0.4 million for deferred financing costs during the years ended December 31, 2020, 2019, and 2018, respectively. Total amortization expense related to deferred financing costs is included in interest expense and was $1.5 million, $1.6 million, and $1.4 million for the years ended December 31, 2020, 2019, and 2018, respectively. Gains on Sale of Real Estate, Net Gains on sale of real estate, net, consist of the excess consideration received for a property over the property carrying value at the time of sale, or gains on real estate, offset by consideration received for a property less than the property carrying value at the time of sale, or loss on sale of real estate. Lease Revenue Lease revenue includes rents that each tenant pays in accordance with the terms of its respective lease reported evenly over the non-cancelable term of the lease. Most of our leases contain rental increases at specified intervals. We recognize such revenues on a straight-line basis. Deferred rent receivable in the accompanying consolidated balance sheet includes the cumulative difference between lease revenue, as recorded on a straight-line basis, and rents received from the tenants in accordance with the lease terms, along with the capitalized above-market in-place lease values of certain acquired properties. Deferred rent liability in the accompanying consolidated balance sheet includes the capitalized below-market in-place lease values of certain acquired properties. Accordingly, we determine, in our judgment, to what extent the deferred rent receivable applicable to each specific tenant is collectible. We review deferred rent receivable, as it relates to straight line rents, on a quarterly basis and take into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the geographic area in which the property is located. In the event that the collectability of deferred rent with respect to any given tenant is in doubt, we record an allowance for uncollectible accounts or record a direct write-off of the specific rent receivable. We incurred $0.2 million in deferred rent write offs during each of the years ended December 31, 2020 and 2018, respectively. No such reserves or direct write offs were recorded during the year ended 2019. Tenant recovery revenue includes payments from tenants as reimbursements for franchise taxes, management fees, insurance, maintenance and repairs, utilities, and ground lease payments. We recognize tenant recovery revenue in the same periods that we incur the related expenses. We do not record any tenant recovery revenues or operating expenses associated with costs paid directly by our tenants for our net leased properties. On January 1, 2020, we completed the integration of the accounting records of certain of our triple net leased third-party asset managed properties into our accounting system and paid out property operating expenses of our operating bank accounts. For periods prior to January 1, 2020, we recorded property operating expenses and offsetting lease revenues for these certain triple net leased properties on a net basis. Beginning January 1, 2020, we began to record the property operating expenses and offsetting lease revenues for these triple net leased properties on a gross basis, as we have amended our process whereby we are paying operating expenses on behalf of our tenants and receiving reimbursement, whereas, previously these tenants were paying these expenses directly, with limited insight provided to us. Income Taxes We have operated and intend to continue to operate in a manner that will allow us to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and, accordingly, will not be subject to federal income taxes on amounts distributed to stockholders (except income from foreclosure property), provided that we distribute at least 90% of our REIT taxable income to our stockholders and meet certain other conditions. To the extent that we satisfy the distribution requirement but distribute less than 100% of our taxable income, we will be subject to federal corporate income tax on our undistributed income. Commercial Advisers is a wholly-owned TRS that is subject to federal and state income taxes. Though Commercial Advisers has had no activity to date, we would account for any future income taxes in accordance with the provisions of ASC 740, “Income Taxes.” Under ASC 740-10-25, we would account for income taxes using the asset and liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We may recognize a tax benefit from an uncertain tax position when it is more-likely-than-not (defined as a likelihood of more than 50%) that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. If a tax position does not meet the more-likely-than-not recognition threshold, despite our belief that the filing position is supportable, the benefit of that tax position is not recognized in the statements of operations. We recognize interest and penalties, as applicable, related to unrecognized tax benefits as a component of income tax expense. We recognize unrecognized tax benefits in the period that the uncertainty is eliminated by either affirmative agreement of the uncertain tax position by the applicable taxing authority, or by expiration of the applicable statute of limitation. For the years ended December 31, 2020, 2019, and 2018, we did not record any provisions for uncertain tax positions. Asset Retirement Obligations ASC 410, “Asset Retirement and Environmental Obligation,” requires an entity to recognize a liability for a conditional asset retirement obligation when incurred if the liability can be reasonably estimated. ASC 410-20-20 clarifies that the term “Conditional Asset Retirement Obligation” refers to a legal obligation (pursuant to existing laws or by contract) 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. ASC 410-20-25-6 clarifies when an entity would have sufficient information to reasonably estimate the fair value of an asset retirement obligation. We have accrued a liability at the present value of the estimated payments expected to be made and corresponding increase to the cost of the related properties for disposal related to all properties constructed prior to 1985 that have, or may have, asbestos present in the building. The liabilities are accreted to their estimated obligation over the life of the leases for the respective properties. We accrued $0.2 million of liabilities in connection with acquisitions for the year ended December 31, 2019, and no liabilities in connection with acquisitions for the years ended December 31, 2020 and 2018. We recorded accretion expense of $0.1 million in each of the years ended December 31, 2020, 2019, and 2018, respectively, to general and administrative expense. Costs of future expenditures for obligations are discounted to their present value. The aggregate undiscounted obligation on all properties is $5.6 million and the discount rates used in the calculations range from 2.5% to 7.0%. We do not expect to make any material payments in conjunction with these obligations in each of the next five years. Stock Issuance Costs We account for stock issuance costs in accordance with SEC Staff Accounting Bulletin (“SAB”) Topic 5.A, which states that incremental costs directly attributable to a proposed or actual offering of securities may properly be deferred and charged against the gross proceeds of the offering. Accordingly, we record costs incurred related to our ongoing equity offerings to other assets on our consolidated balance sheet and ratably apply these amounts to the cost of equity as stock is issued. If an equity offering is subsequently terminated and there are amounts remaining in other assets that have not been allocated to the cost of the offering, the remaining amounts are recorded as a general and administrative expense on our consolidated statements of operations. Comprehensive Income We record the effective portion of changes in the fair value of the interest rate cap and swap agreements that qualify as cash flow hedges to accumulated other comprehensive income. For the years ended December 31, 2020, 2019, and 2018, we reconciled net income to comprehensive income on the consolidated statements of operations and comprehensive income in the accompanying consolidated financial statements. Segment Reporting We manage our operations on an aggregated, single segment basis for purposes of assessing performance and making operating decisions, and, accordingly, have only one reporting and operating segment. Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-13, “Financial Instruments - Credit Losses (Topic 326)” (“ASU 2016-13”). The new standard requires more timely recognition of credit losses on loans and other financial instruments that are not accounted for at fair market value through net income. The standard also requires that financial assets measured at amortized cost be presented at the net amounts anticipated to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. We are required to measure all expected credit losses based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets. We adopted ASU 2016-13 beginning with the three months ended March 31, 2020. Adopting ASU 2016-13 has not resulted in a material impact to our consolidated financial statements, as we do not have any loans receivable outstanding. In March 2020, the FASB issued Accounting Standards Update 2020-04, “Reference Rate Reform (Topic 848)” (“ASU 2020-04”), subsequently clarified in January 2021 by Accounting Standards Update 2021-01 “Reference Rate Reform (Topic 848)” (“ASU 2021-01”). The main provisions of this update provide optional expedients and exceptions for contracts, hedging relationships, and other transactions that reference the London Inter-bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020, and ASU 2021-01 is effective for all entities as of January 31, 2021. We adopted ASU 2020-04 beginning with the three months ended March 31, 2020, and ASU 2021-01 as of January 31, 2021. Adopting ASU 2020-04 and ASU 2021-01 has not resulted in a material impact to our consolidated statements, as ASU 2020-04 and ASU 2021-01 allows for prospective application of any changes in the effective interest rate for our LIBOR based debt, and allows for practical expedients that will allow us to treat our derivative instruments designated as cash flow hedges consistent with how they are currently accounted for. In April 2020, the FASB issued a staff question-and-answer document, Topic 842 and Topic 840: Accounting for Lease Concessions related to the Effects of the COVID-19 Pandemic (“COVID-19 Q&A”), to address frequently asked questions pertaining to lease concessions arising from the effects of the COVID-19 pandemic. Existing lease guidance requires entities to determine if a lease concession was a result of a new arrangement reached with the tenant, which would be addressed under the lease modification accounting framework, or if a lease concession was under the enforceable rights and obligations within the existing lease agreement, which would not fall under the lease modification accounting framework. The COVID-19 Q&A clarifies that entities may elect to not evaluate whether lease-related relief granted in light of the effects of COVID-19 is a lease modification, as long as the concession does not result in a substantial increase in rights of the lessor or obligations of the lessee. This election is available for concessions that result in the total payments required by the modified contract being substantially the same as or less than the total payments required by the original contract. At this time, we have granted rent deferrals to three tenants representing approximately 2% of total portfolio rents. The agreements with these tenants include current partial payments in exchange for rent deferrals of varying terms with deferred amounts to be paid by the respective tenant back to us, for the period starting in July 2020 and ending in March 2021. We have elected to not evaluate these leases under the lease modification accounting framework.

Related-Party Transactions

Related-Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions Gladstone Management Corporation and Gladstone Administration, LLC We are externally managed pursuant to contractual arrangements with our Adviser and our Administrator, which collectively employ all of our personnel and pay their salaries, benefits, and general expenses directly. Both our Adviser and Administrator are affiliates of ours, as their parent company is owned and controlled by Mr. Gladstone, our chairman and chief executive officer. Two of our executive officers, Mr. Gladstone and Mr. Brubaker (our vice chairman and chief operating officer) serve as directors and executive officers of our Adviser and our Administrator. Our president, Mr. Cutlip, is an executive managing director of our Adviser. Michael LiCalsi, our general counsel and secretary, also serves as our Administrator’s president, general counsel and secretary. We have entered into an advisory agreement with our Adviser, as amended from time to time (the “Advisory Agreement”), and an administration agreement with our Administrator (the “Administration Agreement”). The services and fees under the Advisory Agreement and Administration Agreement are described below. At December 31, 2020 and December 31, 2019, $3.0 million and $2.9 million, respectively, was collectively due to our Adviser and Administrator. Base Management Fee On January 8, 2019, we entered into a Fifth Amended and Restated Investment Advisory Agreement (the “Fifth Amended Advisory Agreement”) with the Adviser, effective as of October 1, 2018, to clarify that the agreement’s definition of Total Equity includes outstanding OP Units issued to Non-controlling OP Unitholders. Our entrance into the Advisory Agreement (and each amendment thereto) has been approved unanimously by our Board of Directors. Our Board of Directors also reviews and considers renewing the agreement with our Adviser each July. Under the Fifth Amended Advisory Agreement, the calculation of the annual base management fee equaled 1.5% of our Total Equity, which was our total stockholders’ equity plus total mezzanine equity (before giving effect to the base management fee and incentive fee), adjusted to exclude the effect of any unrealized gains or losses that did not affect realized net income (including impairment charges), adjusted for any one-time events and certain non-cash items (the later to occur for a given quarter only upon the approval of our Compensation Committee), and adjusted to include OP Units held by Non-controlling OP Unitholders. The fee was calculated and accrued quarterly as 0.375% per quarter of such Total Equity figure. Our Adviser does not charge acquisition or disposition fees when we acquire or dispose of properties as is common in other externally managed REITs; however, our Adviser may earn fee income from our borrowers, tenants or other sources. On July 14, 2020, the Company amended and restated the Fifth Amended Advisory Agreement by entering into the Sixth Amended and Restated Investment Advisory Agreement between the Company and the Adviser (the “Sixth Amended Advisory Agreement”). The Sixth Amended Advisory Agreement replaced the Fifth Amended Advisory Agreement’s previous calculation of the base management fee with a calculation based on Gross Tangible Real Estate. The revised Base Management Fee will be payable quarterly in arrears and shall be calculated at an annual rate of 0.425% (0.10625% per quarter) of the prior calendar quarter’s “Gross Tangible Real Estate,” defined in the Sixth Amended Advisory Agreement as the current gross value of the Company’s property portfolio (meaning the aggregate of each property’s original acquisition price plus the cost of any subsequent capital improvements thereon). The calculation of the other fees in the agreement remained unchanged. The revised Base Management Fee calculation began with the fee calculations for the quarter ended September 30, 2020. For the years ended December 31, 2020, 2019, and 2018, we recorded a base management fee of $5.6 million, $5.2 million, and $5.1 million, respectively. Incentive Fee Pursuant to the Advisory Agreement, the calculation of the incentive fee rewards the Adviser in circumstances where our quarterly Core FFO (defined at the end of this paragraph), before giving effect to any incentive fee, or pre-incentive fee Core FFO, exceeds 2.0% quarterly, or 8.0% annualized, of adjusted total stockholders’ equity (after giving effect to the base management fee but before giving effect to the incentive fee). We refer to this as the new hurdle rate. The Adviser will receive 15.0% of the amount of our pre-incentive fee Core FFO that exceeds the new hurdle rate. However, in no event shall the incentive fee for a particular quarter exceed by 15.0% (the cap) the average quarterly incentive fee paid by us for the previous four quarters (excluding quarters for which no incentive fee was paid). Core FFO (as defined in the Advisory Agreement) is GAAP net income (loss) available to common stockholders, excluding the incentive fee, depreciation and amortization, any realized and unrealized gains, losses or other non-cash items recorded in net income (loss) available to common stockholders for the period, and one-time events pursuant to changes in GAAP. For the years ended December 31, 2020, 2019, and 2018, we recorded an incentive fee of $4.3 million, $3.7 million, and $3.0 million, respectively. The Adviser did not waive any portion of the incentive fee for the years ended December 31, 2020, 2019, and 2018. Waivers cannot be recouped by the Adviser in the future. Capital Gain Fee Under the Advisory Agreement, we will pay to the Adviser a capital gains-based incentive fee that will be calculated and payable in arrears as of the end of each fiscal year (or upon termination of the Advisory Agreement). In determining the capital gain fee, we will calculate aggregate realized capital gains and aggregate realized capital losses for the applicable time period. For this purpose, aggregate realized capital gains and losses, if any, equals the realized gain or loss calculated by the difference between the sales price of the property, less any costs to sell the property and the all-in acquisition cost of the disposed property. At the end of the fiscal year, if this number is positive, then the capital gain fee payable for such time period shall equal 15.0% of such amount. No capital gain fee was recognized during the years ended December 31, 2020, 2019, and 2018. Termination Fee The Advisory Agreement includes a termination fee whereby, in the event of our termination of the agreement without cause (with 120 days’ prior written notice and the vote of at least two-thirds of our independent directors), a termination fee would be payable to the Adviser equal to two times the sum of the average annual base management fee and incentive fee earned by the Adviser during the 24-month period prior to such termination. A termination fee is also payable if the Adviser terminates the Advisory Agreement after we have defaulted and applicable cure periods have expired. The Advisory Agreement may also be terminated for cause by us (with 30 days’ prior written notice and the vote of at least two-thirds of our independent directors), with no termination fee payable. Cause is defined in the agreement to include if the Adviser breaches any material provisions thereof, the bankruptcy or insolvency of the Adviser, dissolution of the Adviser and fraud or misappropriation of funds. Administration Agreement Under the terms of the Administration Agreement, we pay separately for our allocable portion of our Administrator’s overhead expenses in performing its obligations to us including, but not limited to, rent and our allocable portion of the salaries and benefits expenses of our Administrator’s employees, including, but not limited to, our chief financial officer, treasurer, chief compliance officer, general counsel and secretary (who also serves as our Administrator’s president, general counsel and secretary), and their respective staffs. Our allocable portion of the Administrator’s expenses are generally derived by multiplying our Administrator’s total expenses by the approximate percentage of time the Administrator’s employees perform services for us in relation to their time spent performing services for all companies serviced by our Administrator under contractual agreements. We believe that the methodology of allocating the Administrator’s total expenses by approximate percentage of time services were performed among all companies serviced by our Administrator more closely approximates fees paid to actual services performed. For the years ended December 31, 2020, 2019, and 2018, we recorded an administration fee of $1.6 million, $1.7 million, and $1.6 million, respectively. Our Board of Directors reviews and considers approving or renewing the Administration Agreement each July. Gladstone Securities, LLC Gladstone Securities, LLC (“Gladstone Securities”), is a privately held broker dealer registered with the Financial Industry Regulatory Authority and insured by the Securities Investor Protection Corporation. Gladstone Securities is an affiliate of ours, as its parent company is owned and controlled by David Gladstone, our chairman and chief executive officer. Mr. Gladstone also serves on the board of managers of Gladstone Securities. Mortgage Financing Arrangement Agreement We entered into an agreement with Gladstone Securities, effective June 18, 2013, for it to act as our non-exclusive agent to assist us with arranging mortgage financing for properties we own. In connection with this engagement, Gladstone Securities will, from time to time, continue to solicit the interest of various commercial real estate lenders or recommend to us third party lenders offering credit products or packages that are responsive to our needs. We pay Gladstone Securities a financing fee in connection with the services it provides to us for securing mortgage financing on any of our properties. The amount of these financing fees, which are payable upon closing of the financing, are based on a percentage of the amount of the mortgage, generally ranging from 0.15% to a maximum of 1.0% of the mortgage obtained. The amount of the financing fees may be reduced or eliminated, as determined by us and Gladstone Securities, after taking into consideration various factors, including, but not limited to, the involvement of any third party brokers and market conditions. We paid financing fees to Gladstone Securities of $0.1 million, $0.2 million, and $0.1 million during the years ended December 31, 2020, 2019, and 2018, respectively, which are included in mortgage notes payable, net, in the consolidated balance sheets, or 0.25%, 0.20%, and 0.11% of total mortgage principal secured or extended during the respective periods. Our Board of Directors renewed the agreement for an additional year, through August 31, 2021, at its July 2020 meeting. Dealer Manager Agreement On February 20, 2020 we entered into a dealer manager agreement (the “Dealer Manager Agreement”), whereby Gladstone Securities will act as the exclusive dealer manager in connection with our offering (the “Offering”) of up to (i) 20,000,000 shares of our 6.00% Series F Cumulative Redeemable Preferred Stock of the Company, par value $0.001 per share (the “Series F Preferred Stock”) on a “reasonable best efforts” basis (the “Primary Offering”), and (ii) 6,000,000 shares of Series F Preferred Stock pursuant to our distribution reinvestment plan (the “DRIP”) to those holders of the Series F Preferred Stock who participate in such DRIP. The Series F Preferred Stock is registered with the SEC pursuant to a registration statement on Form S-3 (File No. 333-236143), as the same may be amended and/or supplemented (the “Registration Statement”), under the Securities Act of 1933, as amended, and will be offered and sold pursuant to a prospectus supplement, dated February 20, 2020, and a base prospectus dated February 11, 2020 relating to the Registration Statement (the “Prospectus”).

Earnings per Share of Common St

Earnings per Share of Common Stock	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings per Share of Common Stock	Earnings per Share of Common Stock The following tables set forth the computation of basic and diluted earnings (loss) per share of common stock for the years ended December 31, 2020, 2019 and 2018, respectively. The OP Units held by Non-controlling OP Unitholders (which may be redeemed for shares of common stock) have been excluded from the diluted earnings per share calculation, as there would be no effect on the amounts since the Non-controlling OP Unitholders’ share of income would also be added back to net income. Net income figures are presented net of such non-controlling interests in the earnings per share calculation. We computed basic earnings (loss) per share for the years ended December 31, 2020, 2019 and 2018, respectively, using the weighted average number of shares outstanding during the periods. Diluted earnings (loss) per share for the years ended December 31, 2020, 2019 and 2018, reflects additional shares of common stock related to our convertible Senior Common Stock, if the effect would be dilutive, that would have been outstanding if dilutive potential shares of common stock had been issued, as well as an adjustment to net income (loss) available (attributable) to common stockholders as applicable to common stockholders that would result from their assumed issuance (dollars in thousands, except per share amounts). For the year ended December 31, 2020 2019 2018 Calculation of basic earnings (loss) per share of common stock: Net income (loss) available (attributable) to common stockholders $ 3,149 $ (4,760) $ 973 Denominator for basic weighted average shares of common stock (1) 34,040,085 30,695,902 28,675,934 Basic earnings (loss) per share of common stock $ 0.09 $ (0.16) $ 0.03 Calculation of diluted earnings (loss) per share of common stock: Net income (loss) available (attributable) to common stockholders $ 3,149 $ (4,760) $ 973 Net income (loss) available (attributable) to common stockholders plus assumed conversions (2) $ 3,149 $ (4,760) $ 973 Denominator for basic weighted average shares of common stock (1) 34,040,085 30,695,902 28,675,934 Effect of convertible Senior Common Stock (2) — — — Denominator for diluted weighted average shares of common stock (2) 34,040,085 30,695,902 28,675,934 Diluted earnings (loss) per share of common stock $ 0.09 $ (0.16) $ 0.03 (1) The weighted average number of OP Units held by Non-controlling OP Unitholders was 502,586, 700,924, and 128,233 for the years ended December 31, 2020, 2019, and 2018, respectively. (2) We excluded convertible shares of Senior Common Stock of 628,263, 674,611 and 724,336 from the calculation of diluted earnings per share for the years ended December 31, 2020, 2019 and 2018, respectively, because it was anti-dilutive.

Real Estate and Intangible Asse

Real Estate and Intangible Assets	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Real Estate and Intangible Assets	Real Estate and Intangible Assets Real Estate The following table sets forth the components of our investments in real estate as of December 31, 2020 and 2019, respectively, excluding real estate held for sale as of December 31, 2020 and 2019, respectively (dollars in thousands): December 31, 2020 December 31, 2019 Real estate: Land (1) $ 142,853 $ 137,532 Building and improvements 916,601 851,245 Tenant improvements 69,229 68,201 Accumulated depreciation (228,468) (207,523) Real estate, net $ 900,215 $ 849,455 (1) This amount includes $4,436 of land value subject to land lease agreements which we may purchase at our option for a nominal fee. Real estate depreciation expense on building and tenant improvements was $36.0 million, $32.8 million, and $29.9 million for the years ended December 31, 2020, 2019, and 2018, respectively. Acquisitions During the year ended December 31, 2020 and 2019 we acquired nine and 18 properties, respectively, which are summarized below (dollars in thousands): Year Ended Aggregate Square Footage Weighted Average Lease Term Aggregate Purchase Price Capitalized Acquisition Costs December 31, 2020 (1) 1,717,502 12.2 years $ 129,974 $ 814 (3) December 31, 2019 (2) 2,562,483 12.8 years $ 130,313 $ 1,231 (3) (1) On January 8, 2020, we acquired a 64,800 square foot property in Indianapolis, Indiana for $5.3 million. The property is leased to three tenants, with a weighted average lease term of 7.2 years. On January 27, 2020, we acquired a 320,838 square foot, three-property portfolio in Houston, Texas, Charlotte, North Carolina, and St. Charles, Missouri for $34.7 million. The portfolio has a weighted average lease term of 20.0 years. On March 9, 2020, we acquired a 504,400 square foot property in Crandall, Georgia for $32.0 million. This property is fully leased to one tenant for 10.5 years. On September 1, 2020, we acquired a 153,600 square foot property in Terre Haute, Indiana for $10.6 million. This property is fully leased to one tenant for 9.7 years. On October 14, 2020, we acquired a 240,714 square foot property in Montgomery, Alabama for $14.3 million. This property is fully leased to one tenant for 7.2 years. On December 18, 2020, we acquired a 277,883 square foot property in Huntsville, Alabama for $20.0 million. This property is fully leased to one tenant for 9.2 years. On December 21, 2020, we acquired a 155,267 square foot property in Pittsburgh, Pennsylvania for $13.0 million. This property is fully leased to one tenant for 10.0 years. (2) On February 8, 2019, we acquired a 26,050 square foot property in Moorestown, New Jersey for $2.7 million. This property is fully leased to one tenant for 15.1 years. On February 28, 2019, we acquired a 34,800 square foot property in Indianapolis, Indiana for $3.6 million. This property is fully leased to one tenant for 10.0 years. On April 5, 2019, we acquired a 383,000 square foot, two property portfolio located in Ocala, Florida for $19.2 million. This portfolio is leased to one tenant, and has a weighted average lease term of 20.1 years. On April 30, 2019, we acquired a 54,430 square foot property in Columbus, Ohio for $3.2 million. This property is fully leased to one tenant for 7.0 years. On June 18, 2019, we acquired a 676,031 square foot property in Tifton, Georgia, for $17.9 million. This property is fully leased to one tenant for 8.5 years. On July 30, 2019, we acquired a 78,452 square foot property in Denton, Texas, for $6.6 million. This property is fully leased to one tenant for 11.9 years. On September 26, 2019, we acquired a 211,000 square foot two property portfolio in Temple, Texas, for $14.1 million. This portfolio is leased to one tenant, and has a weighted average lease term of 20.0 years. On November 14, 2019, we acquired a 231,509 square foot property in Indianapolis, Indiana, for $8.2 million. This property is fully leased to one tenant for 13.5 years. On December 16, 2019, we acquired a 241,000 square foot property in Jackson, Tennessee, for $9.1 million. This property is fully leased to one tenant for 9.7 years. On December 17, 2019, we acquired a 117,000 square foot property in Carrollton, Georgia, for $8.1 million. This property is fully leased to one tenant for 12.0 years. On December 17, 2019, we acquired a 509,211 square foot six property portfolio, for $37.6 million. The portfolio is fully leased to one tenant, and has a weighted average lease term of 10.0 years. (3) During the years ended December 31, 2020 and 2019, we capitalized $0.8 million and $1.2 million, respectively, of acquisition costs. We determined the fair value of assets acquired and liabilities assumed related to the properties acquired during the year ended December 31, 2020 and 2019, respectively, as follows (dollars in thousands): Year ended December 31, 2020 Year ended December 31, 2019 Acquired assets and liabilities Purchase price Purchase price Land $ 11,264 (1) $ 12,351 Building 97,101 93,502 Tenant Improvements 2,684 3,119 In-place Leases 9,076 9,013 Leasing Costs 6,352 7,274 Customer Relationships 5,239 5,019 Above Market Leases 529 (2) 1,950 Below Market Leases (2,271) (3) (1,915) (4) Total Purchase Price $ 129,974 $ 130,313 (1) This amount includes $2,711 of land value subject to a land lease agreement, which we may purchase for a nominal fee. (2) This amount includes $53 of loans receivable included in Other assets on the consolidated balance sheets. (3) This amount includes $62 of prepaid rent included in Other liabilities on the consolidated balance sheets. (4) This amount includes $187 of prepaid rent included in Other liabilities on the consolidated balance sheets. Future Lease Payments Future operating lease payments from tenants under non-cancelable leases, excluding tenant reimbursement of expenses, for each of the five succeeding fiscal years and thereafter is as follows (dollars in thousands): Year Tenant Lease Payments 2021 $ 110,417 2022 106,438 2023 99,170 2024 91,083 2025 83,418 Thereafter 323,814 $ 814,340 In accordance with the lease terms, substantially all operating expenses are required to be paid by the tenant; however, we would be required to pay operating expenses on the respective properties in the event the tenants fail to pay them. Lease Revenue Reconciliation The table below sets forth the allocation of lease revenue between fixed contractual payments and variable lease payments for the years ended December 31, 2020 and 2019, respectively (dollars in thousands): For the twelve months ended December 31, (Dollars in Thousands) Lease revenue reconciliation 2020 2019 $ Change % Change Fixed lease payments $ 117,248 $ 110,273 $ 6,975 6.3 % Variable lease payments 15,904 4,114 11,790 286.6 % $ 133,152 $ 114,387 $ 18,765 16.4 % Intangible Assets The following table summarizes the carrying value of intangible assets, liabilities and the accumulated amortization for each intangible asset and liability class as of December 31, 2020 and 2019, excluding real estate held for sale as of December 31, 2020 and 2019, respectively (dollars in thousands): December 31, 2020 December 31, 2019 Lease Intangibles Accumulated Amortization Lease Intangibles Accumulated Amortization In-place leases $ 99,254 $ (54,168) $ 92,906 $ (48,468) Leasing costs 73,707 (37,801) 68,256 (33,705) Customer relationships 68,268 (31,881) 65,363 (28,887) $ 241,229 $ (123,850) $ 226,525 $ (111,060) Deferred Rent Receivable/(Liability) Accumulated (Amortization)/Accretion Deferred Rent Receivable/(Liability) Accumulated (Amortization)/Accretion Above market leases $ 15,076 $ (10,670) $ 16,502 $ (10,005) Below market leases and deferred revenue (38,319) 17,686 (34,322) 15,000 $ (23,243) $ 7,016 $ (17,820) $ 4,995 Total amortization expense related to in-place leases, leasing costs and customer relationship lease intangible assets was $19.4 million, $19.2 million, and $17.7 million for the years ended December 31, 2020, 2019, and 2018, respectively, and is included in depreciation and amortization expense in the consolidated statement of operations and comprehensive income. Total amortization related to above-market lease values was $0.8 million, $1.1 million, and $1.1 million for the years ended December 31, 2020, 2019, and 2018, respectively, and is included in lease revenue in the consolidated statement of operations and comprehensive income. Total amortization related to below-market lease values was $2.8 million, $2.5 million, and $2.0 million for the years ended December 31, 2020, 2019, and 2018, respectively, and is included in lease revenue in the consolidated statement of operations and comprehensive income. The weighted average amortization periods in years for the intangible assets acquired and liabilities assumed during the years ended December 31, 2020 and 2019, respectively, were as follows: Intangible Assets & Liabilities 2020 2019 In-place leases 14.2 13.6 Leasing costs 14.2 13.6 Customer relationships 17.8 19.0 Above market leases 14.8 10.7 Below market leases 13.3 10.3 All intangible assets & liabilities 15.0 15.0 The estimated aggregate amortization expense to be recorded for in-place leases, leasing costs and customer relationships for each of the five succeeding fiscal years and thereafter is as follows, excluding real estate held for sale as of December 31, 2020 (dollars in thousands): Year Estimated Amortization Expense 2021 $ 19,828 2022 17,890 2023 15,435 2024 13,211 2025 11,467 Thereafter 39,548 $ 117,379 The estimated aggregate rental income to be recorded for the amortization of both above and below market leases for each of the five succeeding fiscal years and thereafter is as follows, excluding real estate held for sale as of December 31, 2020 (dollars in thousands): Year Net Increase to Rental Income 2021 $ 3,527 2022 2,575 2023 2,154 2024 2,009 2025 1,626 Thereafter 4,160 $ 16,051 (1) Does not include ground lease amortization of $176.

Real Estate Dispositions, Held

Real Estate Dispositions, Held for Sale, and Impairment Charges	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Real Estate Dispositions, Held for Sale, and Impairment Charges	Real Estate Dispositions, Held for Sale, and Impairment Charges Real Estate Dispositions During the year ended December 31, 2020, we continued to execute our capital recycling program, whereby we sold properties outside of our core markets and redeployed proceeds to either fund property acquisitions in our target secondary growth markets, or repay outstanding debt. We expect to continue to execute our capital recycling plan and sell non-core properties as reasonable disposition opportunities become available. During the year ended December 31, 2020, we sold six non-core properties, located in Charlotte, North Carolina, Maple Heights, Ohio, Champaign, Illinois, and Austin, Texas, which are summarized in the table below (dollars in thousands): Aggregate Square Footage Sold Sales Price Sales Costs Gain on Sale of Real Estate, net 551,743 $ 37,532 $ 1,698 $ 8,096 Our 2020 dispositions were not classified as discontinued operations because they did not represent a strategic shift in operations, nor will they have a major effect on our operations and financial results. Accordingly, the operating results of these properties are included within continuing operations for all periods reported. The table below summarizes the components of operating income from the real estate and related assets disposed of during the years ended December 31, 2020, 2019, and 2018, respectively (dollars in thousands): For the year ended December 31, 2020 2019 2018 Operating revenue $ 2,703 $ 3,176 $ 3,919 Operating expense 1,534 3,697 1,609 Other income (expense), net 8,181 (1) (54) (586) Income (expense) from real estate and related assets sold $ 9,350 $ (575) $ 1,724 (1) Includes an $8.1 million gain on sale of real estate, net. Real Estate Held for Sale At December 31, 2020, we had three properties classified as held for sale, located in Boston Heights, Ohio, Rancho Cordova, California, and Champaign, Illinois. We considered these assets to be non-core to our long term strategy. At December 31, 2019, we had one property classified as held for sale, located in Charlotte, North Carolina. This property was sold during the year ended December 31, 2020. Our assets classified as held for sale at December 31, 2020 were not classified as discontinued operations because it does not represent a strategic shift in our operations, and it does not have a major effect on our financial results. The table below summarizes the components of income from real estate and related assets held for sale at December 31, 2020 (dollars in thousands): For the year ended December 31, 2020 2019 2018 Operating revenue $ 1,861 $ 1,769 $ 1,288 Operating expense 2,938 (1) 985 792 Other expense, net (388) (364) (394) (Loss) income from real estate and related assets held for sale $ (1,465) $ 420 $ 102 (1) Includes a $1.9 million impairment charge. The table below summarizes the components of the assets and liabilities held for sale reflected on the accompanying consolidated balance sheet (dollars in thousands): December 31, 2020 December 31, 2019 Assets Held for Sale Total real estate held for sale $ 8,114 $ 3,990 Lease intangibles, net 384 — Total Assets Held for Sale $ 8,498 $ 3,990 Liabilities Held for Sale Asset retirement obligation $ — $ 21 Total Liabilities Held for Sale $ — $ 21 Impairment Charges We evaluated our portfolio for triggering events to determine if any of our held and used assets were impaired during the year ended December 31, 2020 and identified three held and used assets, located in Blaine, Minnesota, Champaign, Illinois, and Rancho Cordova, California, which were impaired by an aggregate of $3.6 million during the year ended December 31, 2020 when we determined the carrying value of these assets was unrecoverable based on an undiscounted cash flow analysis. As a result, we recorded an impairment charge to reflect the fair market value of these assets. The Rancho Cordova, California property was further impaired when we classified the property as held for sale as of December 31, 2020 to record the carrying value equal to the fair value less costs of sale and recorded an impairment charge to our Rancho Cordova, California asset of $0.7 million, which is reflected in aggregate impairment charge of $3.6 million during the year ended December 31, 2020. We classified one property as held for sale at December 31, 2019. We performed an analysis of the property classified as held for sale and compared the fair market value of the asset less selling costs against the carrying value of the asset available for sale. As a result of this analysis, we recorded an impairment charge of $1.8 million during the year ended December 31, 2019, as the fair market value minus selling costs was less than the carrying value. Fair market value for this asset was calculated using Level 3 inputs (defined in Note 6 “Mortgage Notes Payable and Credit Facility”), which were determined using a negotiated sales price from an executed purchase and sale agreement with a third party. We continue to evaluate our properties on a quarterly basis for changes that could create the need to record impairment. Future impairment losses may result, and could be significant, should market conditions deteriorate in the markets in which we hold our assets or we are unable to secure leases at terms that are favorable to us, which could impact the estimated cash flow of our properties over the period in which we plan to hold our properties. Additionally, changes in management’s decisions to either own and lease long-term or sell a particular asset will have an impact on this analysis. The fair values for the above properties were calculated using Level 3 inputs which were calculated using an estimated sales price, less estimated costs to sell. The estimated sales price was determined using executed purchase and sale agreements.

Mortgage Notes Payable and Cred

Mortgage Notes Payable and Credit Facility	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Mortgage Notes Payable and Credit Facility	Mortgage Notes Payable and Credit Facility Our revolving credit facility and term loan facility are collectively referred to herein as the Credit Facility. Our mortgage notes payable and Credit Facility as of December 31, 2020 and December 31, 2019 are summarized below (dollars in thousands): Encumbered properties at Carrying Value at Stated Interest Rates at Scheduled Maturity Dates at December 31, 2020 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2020 Mortgage and other secured loans: Fixed rate mortgage loans 61 $ 435,029 $ 412,771 (1) (2) Variable rate mortgage loans 7 24,809 45,151 (3) (2) Premiums and discounts, net - (182) (239) N/A N/A Deferred financing costs, mortgage loans, net - (3,479) (3,944) N/A N/A Total mortgage notes payable, net 68 $ 456,177 $ 453,739 (4) Variable rate revolving credit facility 50 (6) $ 53,900 $ 52,400 LIBOR + 1.65% 7/2/2023 Deferred financing costs, revolving credit facility - (588) (821) N/A N/A Total revolver, net 50 $ 53,312 $ 51,579 Variable rate term loan facility - $ 160,000 $ 122,300 LIBOR + 1.60% 7/2/2024 Deferred financing costs, term loan facility - (797) (1,024) N/A N/A Total term loan, net N/A $ 159,203 $ 121,276 Total mortgage notes payable and credit facility 118 $ 668,692 $ 626,594 (5) (1) Interest rates on our fixed rate mortgage notes payable vary from 2.80% to 6.63%. (2) We have 53 mortgage notes payable with maturity dates ranging from 11/1/2021 through 8/1/2037. (3) Interest rates on our variable rate mortgage notes payable vary from one month LIBOR + 2.35% to one month LIBOR +2.75%. At December 31, 2020, one month LIBOR was approximately 0.14%. (4) The weighted average interest rate on the mortgage notes outstanding at December 31, 2020, was approximately 4.24%. (5) The weighted average interest rate on all debt outstanding at December 31, 2020, was approximately 3.45%. (6) The amount we may draw under our Credit Facility is based on a percentage of the fair value of a combined pool of 50 unencumbered properties as of December 31, 2020. N/A - Not Applicable Mortgage Notes Payable As of December 31, 2020, we had 53 mortgage notes payable, collateralized by a total of 68 properties with a net book value of $687.6 million. We have limited recourse liabilities that could result from any one or more of the following circumstances: a borrower voluntarily filing for bankruptcy, improper conveyance of a property, fraud or material misrepresentation, misapplication or misappropriation of rents, security deposits, insurance proceeds or condemnation proceeds, or physical waste or damage to the property resulting from a borrower’s gross negligence or willful misconduct. As of December 31, 2020, we did not have any recourse mortgage. We will also indemnify lenders against claims resulting from the presence of hazardous substances or activity involving hazardous substances in violation of environmental laws on a property. During the year ended December 31, 2020, we repaid seven mortgages collateralized by eight properties, which are summarized below (dollars in thousands): Aggregate Fixed Rate Debt Repaid Weighted Average Interest Rate on Fixed Rate Debt Repaid $ 18,109 5.19 % Aggregate Variable Rate Debt Repaid Weighted Average Interest Rate on Variable Rate Debt Repaid $ 19,284 LIBOR + 2.20% During the year ended December 31, 2020, we issued six mortgages, collateralized by six properties, which are summarized below (dollars in thousands): Aggregate Fixed Rate Debt Issued Weighted Average Interest Rate on Fixed Rate Debt $ 52,578 (1) 3.18 % (1) We issued an aggregate of $18.3 million of fixed rate debt in connection with our three property portfolio acquisition on January 27, 2020, with a maturity date of February 1, 2030 and a rate of 3.625%. We issued $17.5 million of floating rate debt swapped to fixed of 2.8% in connection with our March 9, 2020 property acquisition, with a maturity date of March 9, 2030. We issued $10.3 million of fixed rate debt in connection with our December 18, 2020 property acquisition, with a maturity date of January 1, 2028 and a rate of 3.0%. We issued $6.4 million of floating rate debt swapped to fixed of 3.25% in connection with our December 21, 2020 property acquisition, with a maturity date of December 23, 2030. Scheduled principal payments of mortgage notes payable for each of the five succeeding fiscal years and thereafter are as follows (dollars in thousands): Year Scheduled Principal Payments 2021 $ 23,056 2022 105,756 2023 72,495 2024 49,616 2025 37,571 Thereafter 171,344 $ 459,838 (1) (1) This figure is does not include $(0.2) million premiums and (discounts), net, and $3.5 million of deferred financing costs, which are reflected in mortgage notes payable on the consolidated balance sheet. We believe we will be able to address all mortgage notes payable maturing over the next 12 months through a combination of refinancing our existing indebtedness, cash from operations, proceeds from one or more equity offerings and availability on our Credit Facility. Interest Rate Caps and Swaps We have entered into interest rate cap agreements that cap the interest rate on certain of our variable-rate debt and we have assumed or entered into interest rate swap agreements in which we hedged our exposure to variable interest rates by agreeing to pay fixed interest rates to our respective counterparty. We have adopted the fair value measurement provisions for our financial instruments recorded at fair value. The fair value guidance establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Generally, we will estimate the fair value of our interest rate caps and interest rate swaps, in the absence of observable market data, using estimates of value including estimated remaining life, counterparty credit risk, current market yield and interest rate spreads of similar securities as of the measurement date. At December 31, 2020 and 2019, our interest rate cap and interest rate swap agreements were valued using Level 2 inputs. The fair value of the interest rate cap agreements is recorded in other assets on our accompanying consolidated balance sheets. We record changes in the fair value of the interest rate cap agreements quarterly based on the current market valuations at quarter end. If the interest rate cap qualifies for hedge accounting, the change in the estimated fair value is recorded to accumulated other comprehensive income to the extent that it is effective, with any ineffective portion recorded to interest expense in our consolidated statements of operations and comprehensive income. If the interest rate cap does not qualify for hedge accounting, or if it is determined the hedge is ineffective, any change in the fair value is recognized in interest expense in our consolidated statements of operations and comprehensive income. The following table summarizes the interest rate caps at December 31, 2020 and 2019 (dollars in thousands): December 31, 2020 December 31, 2019 Aggregate Cost Aggregate Notional Amount Aggregate Fair Value Aggregate Notional Amount Aggregate Fair Value $ 1,537 (1) $ 177,060 $ 9 $ 166,728 $ 250 (1) We have entered into various interest rate cap agreements on new variable rate debt with LIBOR caps ranging from 1.50% to 2.75%. We have assumed or entered into interest rate swap agreements in connection with certain of our acquisitions, whereby we will pay our counterparty a fixed interest rate on a monthly basis, and receive payments from our counterparty equivalent to the stipulated floating rate. The fair value of our interest rate swap agreements are recorded in other liabilities on our accompanying consolidated balance sheets. We have designated our interest rate swaps as cash flow hedges, and we record changes in the fair value of the respective interest rate swap agreement to accumulated other comprehensive income on the consolidated balance sheets. We record changes in fair value on a quarterly basis, using current market valuations at quarter end. The following table summarizes our interest rate swaps at December 31, 2020 and 2019 (dollars in thousands): December 31, 2020 December 31, 2019 Aggregate Notional Amount Aggregate Fair Value Asset Aggregate Fair Value Liability Aggregate Notional Amount Aggregate Fair Value Asset Aggregate Fair Value Liability $ 68,829 $ — $ (3,055) $ 45,777 $ — $ (1,173) The following tables present the impact of our derivative instruments in the consolidated financial statements (dollars in thousands): Amount of loss recognized in Comprehensive Income 2020 2019 2018 Derivatives in cash flow hedging relationships Interest rate caps $ (337) $ (749) $ 77 Interest rate swaps (1,882) (1,229) (260) Total $ (2,219) $ (1,978) $ (183) The following table sets forth certain information regarding our derivative instruments (dollars in thousands): Asset (Liability) Derivatives Fair Value at Derivatives Designated as Hedging Instruments Balance Sheet Location December 31, 2020 December 31, 2019 Interest rate caps Other assets $ 9 $ 250 Interest rate swaps Other liabilities (3,055) (1,173) Total derivative liabilities, net $ (3,046) $ (923) The fair value of all mortgage notes payable outstanding as of December 31, 2020 was $468.6 million, as compared to the carrying value stated above of $456.2 million. The fair value is calculated based on a discounted cash flow analysis, using management’s estimate of market interest rates on long-term debt with comparable terms and loan to value ratios. The fair value was calculated using Level 3 inputs of the hierarchy established by ASC 820, “Fair Value Measurements and Disclosures.” Credit Facility On August 7, 2013, we procured our senior unsecured revolving credit facility (“Revolver”) with KeyBank National Association (“KeyBank”) (serving as revolving lender, a letter of credit issuer and an administrative agent). In October 2015, we expanded our Revolver to $85.0 million and entered into a term loan facility (“Term Loan”) whereby we added a $25.0 million, five On October 27, 2017, we amended this Credit Facility, increasing the Term Loan from $25.0 million, to $75.0 million, with the Revolver commitment remaining at $85.0 million. The Term Loan maturity date was extended to October 27, 2022, and the Revolver maturity date was extended to October 27, 2021. In connection with the amendment, the interest rate for the Credit Facility was reduced by 25 basis points at each of the leverage tiers. At the time of amendment, we entered into multiple interest rate cap agreements on the amended Term Loan, which cap LIBOR at 2.75% to hedge our exposure to variable interest rates. On July 2, 2019, we amended, extended and upsized our Credit Facility, expanding the Term Loan from $75.0 million to $160.0 million, inclusive of a delayed draw component whereby we can incrementally borrow on the Term Loan up to the $160.0 million commitment, and increasing the Revolver from $85.0 million to $100.0 million. The Term Loan has a new five four As of December 31, 2020, there was $213.9 million outstanding under our Credit Facility, at a weighted average interest rate of approximately 1.76% and $16.4 million outstanding under letters of credit, at a weighted average interest rate of 1.65%. As of December 31, 2020, the maximum additional amount we could draw under the Credit Facility was $19.2 million. We were in compliance with all covenants under the Credit Facility as of December 31, 2020. The amount outstanding under the Credit Facility approximates fair value as of December 31, 2020.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Ground Leases We are obligated as lessee under four ground leases. Future minimum rental payments due under the terms of these leases as of December 31, 2020, are as follows (dollars in thousands): Year Future Lease Payments Due Under Operating Leases 2021 $ 477 2022 489 2023 492 2024 493 2025 494 Thereafter 7,305 Total anticipated lease payments $ 9,750 Less: amount representing interest (4,063) Present value of lease payments $ 5,687 Rental expense incurred for properties with ground lease obligations was $0.5 million each for the years ended December 31, 2020, 2019 and 2018. Our ground leases are treated as operating leases and rental expenses are reflected in property operating expenses on the consolidated statements of operations and comprehensive income. Our ground leases have a weighted average remaining lease term of 20.1 years and weighted average discount rate of 5.32%. Letters of Credit As of December 31, 2020, there was $16.4 million outstanding under letters of credit. These letters of credit are not reflected on our consolidated balance sheet.

Equity and Mezzanine Equity

Equity and Mezzanine Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Equity and Mezzanine Equity	Equity and Mezzanine Equity Distributions We paid the following distributions per share for the years ended December 31, 2020, 2019, and 2018: For the year ended December 31, 2020 2019 2018 Common Stock and Non-controlling OP Units $ 1.5018 $ 1.5000 $ 1.5000 Senior Common Stock 1.0500 1.0500 1.0500 Series A Preferred Stock — (1) 1.6038191 (1) 1.9374996 Series B Preferred Stock — (1) 1.5521 (1) 1.8750 Series D Preferred Stock 1.7500 1.7500 1.7500 Series E Preferred Stock 1.656252 0.404900 (3) — Series F Preferred Stock 0.7500 (2) — — (1) We fully redeemed our Series A and B Preferred Stock on October 28, 2019. (2) Prior to July 1, 2020, Series F Preferred Stock distributions were declared, but not paid, as there were no Series F Preferred Stock shares outstanding on the applicable dividend record dates. (3) We issued our Series E Preferred Stock on October 4, 2019. For federal income tax purposes, distributions paid to stockholders may be characterized as ordinary income, capital gains, return of capital or a combination of the foregoing. The characterization of distributions during each of the last three years is reflected in the table below: Ordinary Income Return of Capital Long-Term Capital Gains Common Stock and OP Units For the year ended December 31, 2018 24.46913 % 75.53087 % — % For the year ended December 31, 2019 44.46159 % 55.53841 % — % For the year ended December 31, 2020 37.28754 % 62.71246 % — % Senior Common Stock For the year ended December 31, 2018 100.00000 % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 100.00000 % — % — % Series A Preferred Stock For the year ended December 31, 2018 100.00000 % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 — % — % — % Series B Preferred Stock For the year ended December 31, 2018 100.00000 % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 — % — % — % Series D Preferred Stock For the year ended December 31, 2018 100.00000 % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 100.00000 % — % — % Series E Preferred Stock For the year ended December 31, 2018 — % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 100.00000 % — % — % Series F Preferred Stock For the year ended December 31, 2018 — % — % — % For the year ended December 31, 2019 — % — % — % For the year ended December 31, 2020 100.00000 % — % — % Recent Activity Common Stock ATM Program On December 3, 2019, we entered into an At-the-Market Equity Offering Sales Agreement (the “Common Stock Sales Agreement”), with Robert W. Baird & Co. Incorporated (“Baird”), Goldman Sachs & Co. LLC (“Goldman Sachs”), Stifel, Nicolaus & Company, Incorporated (“Stifel”), BTIG, LLC, and Fifth Third Securities, Inc. (“Fifth Third”) (collectively the “Common Stock Sales Agents”), pursuant to which we may sell shares of our common stock in an aggregate offering price of up to $250.0 million (the “Common Stock ATM Program”). During the year ended December 31, 2020, we sold 2.7 million shares of common stock, raising $52.8 million in net proceeds under the Common Stock ATM Program. As of December 31, 2020, we had a remaining capacity to sell up to $183.9 million of common stock under the Common Stock Sales Agreement. The proceeds from these issuances were used to acquire real estate, repay outstanding debt and for other general corporate purposes. Mezzanine Equity Both our 7.00% Series D Cumulative Redeemable Preferred Stock (“Series D Preferred Stock”), and 6.625% Series E Cumulative Redeemable Preferred Stock (“Series E Preferred Stock”) are classified as mezzanine equity in our consolidated balance sheet because both are redeemable at the option of the shareholder upon a change of control of greater than 50% in accordance with ASC 480-10-S99 “Distinguishing Liabilities from Equity,” which requires mezzanine equity classification for preferred stock issuances with redemption features which are outside of the control of the issuer. A change in control of the Company, outside of our control, is only possible if a tender offer is accepted by over 90% of our shareholders. All other change in control situations would require input from our Board of Directors. In addition, our Series E Preferred Stock is redeemable at the option of the shareholder in the event a delisting event occurs. We will periodically evaluate the likelihood that a change of control or delisting event of greater than 50% will take place, and if we deem this probable, we would adjust the Series D Preferred Stock and Series E Preferred Stock presented in mezzanine equity to their redemption value, with the offset to gain (loss) on extinguishment. We currently believe the likelihood of a change of control of greater than 50% is remote. We did not have an active At-the-Market program for our Series D Preferred Stock during the year ended December 31, 2020. Series E Preferred Stock ATM Program We have an At-the-Market Equity Offering Sales Agreement (the “Series E Preferred Stock Sales Agreement”), with sales agents Baird, Goldman Sachs, Stifel, Fifth Third, and U.S. Bancorp Investments, Inc., pursuant to which we may, from time to time, offer to sell shares of our Series E Preferred Stock in an aggregate offering price of up to $100.0 million. We sold 0.3 million shares of our Series E Preferred Stock, raising $7.1 million in net proceeds pursuant to the Series E Preferred Stock Sales Agreement during the year ended December 31, 2020. As of December 31, 2020, we had remaining capacity to sell up to $92.8 million of Series E Preferred Stock under the Series E Preferred Stock Sales Agreement. Universal Shelf Registration Statement On January 11, 2019, we filed a universal registration statement on Form S-3, File No. 333-229209, and an amendment thereto on Form-S-3/A on January 24, 2019 (collectively referred to as the “Universal Shelf”). The Universal Shelf became effective on February 13, 2019 and replaced our prior universal shelf registration statement. The Universal Shelf allows us to issue up to $500.0 million of securities. As of December 31, 2020, we had the ability to issue up to $377.2 million under the Universal Shelf. On January 29, 2020, we filed an additional universal registration statement on Form S-3, File No. 333-236143 (the “2020 Universal Shelf”). The 2020 Universal Shelf was declared effective on February 11, 2020 and is in addition to the 2019 Universal Shelf. The 2020 Universal Shelf allows us to issue up to an additional $800.0 million of securities. Of the $800.0 million of available capacity under our 2020 Universal Shelf, approximately $636.5 million is reserved for the sale of our Series F Preferred Stock. As of December 31, 2020, we had the ability to issue up to $797.1 million of securities under the 2020 Universal Shelf. Preferred Series F Continuous Offering On February 20, 2020, we filed with the Maryland Department of Assessments and Taxation Articles Supplementary (i) setting forth the rights, preferences and terms of the Series F Preferred Stock and (ii) reclassifying and designating 26,000,000 shares of the Company’s authorized and unissued shares of common stock as shares of Series F Preferred Stock. The reclassification decreased the number of shares classified as common stock from 86,290,000 shares immediately prior to the reclassification to 60,290,000 shares immediately after the reclassification. We sold 0.1 million shares of our Series F Preferred Stock, raising $2.7 million in net proceeds during the year ended December 31, 2020. As of December 31, 2020, we had remaining capacity to sell up to $633.6 million of Series F Preferred Stock. Amendment to Operating Partnership Agreement In connection with the authorization of the Series F Preferred Stock in February of 2020, the Operating Partnership controlled by the Company through its ownership of GCLP Business Trust II, the general partner of the Operating Partnership, adopted the Second Amendment to its Second Amended and Restated Agreement of Limited Partnership (collectively, the “Amendment”), as amended from time to time, establishing the rights, privileges and preferences of 6.00% Series F Cumulative Redeemable Preferred Units, a newly-designated class of limited partnership interests (the “Series F Preferred Units”). The Amendment provides for the Operating Partnership’s establishment and issuance of an equal number of Series F Preferred Units as are issued shares of Series F Preferred Stock by the Company in connection with the offering upon the Company’s contribution to the Operating Partnership of the net proceeds of the offering. Generally, the Series F Preferred Units provided for under the Amendment have preferences, distribution rights and other provisions substantially equivalent to those of the Series F Preferred Stock. Non-controlling Interests in Operating Partnership As of December 31, 2020 and 2019, we owned approximately 98.6% and 98.6%, respectively, of the outstanding OP Units. On October 30, 2018, we issued 742,937 OP units as partial consideration to acquire a 218,703 square foot, two property portfolio located in Detroit, Michigan for $21.7 million. During November 2019, 263,300 OP units were redeemed for Common Stock. On January 8, 2020, we issued 23,396 OP units as partial consideration to acquire a 64,800 square foot property located in Indianapolis, Indiana for $5.3 million. The Operating Partnership is required to make distributions on each OP Unit in the same amount as those paid on each share of the Company’s common stock, with the distributions on the OP Units held by the Company being utilized to make distributions to the Company’s common stockholders. As of December 31, 2020 and 2019, there were 503,033 and 479,637 outstanding OP Units held by Non-controlling OP Unitholders, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Distributions On January 12, 2021, our Board of Directors declared the following monthly distributions for the months of January, February, and March of 2021: Record Date Payment Date Common Stock and Non-controlling OP Unit Distributions per Share Series D Preferred Distributions per Share Series E Preferred Distributions per Share January 22, 2021 January 29, 2021 $ 0.12515 $ 0.1458333 $ 0.138021 February 17, 2021 February 26, 2021 0.12515 0.1458333 0.138021 March 18, 2021 March 31, 2021 0.12515 0.1458333 0.138021 $ 0.37545 $ 0.4374999 $ 0.414063 Series F Preferred Stock Distributions Record Date Payment Date Distribution per Share January 27, 2021 February 5, 2021 $ 0.125 February 24, 2021 March 5, 2021 0.125 March 24, 2021 April 5, 2021 0.125 $ 0.375 Senior Common Stock Distributions Payable to the Holders of Record During the Month of: Payment Date Distribution per Share January February 5, 2021 $ 0.0875 February March 5, 2021 0.0875 March April 5, 2021 0.0875 $ 0.2625 Equity Activity Subsequent to December 31, 2020 and through February 16, 2021, we raised $6.8 million in net proceeds from the sale of 0.4 million shares of common stock under our Common Stock ATM Program and $0.03 million in net proceeds from the sale of 1,200 sales of Series F Preferred Stock. We made no sales under our Series E Preferred ATM Program subsequent to December 31, 2020 and through February 16, 2021. Acquisition Activity On January 22, 2021, we purchased a 180,152 square foot industrial property in Findlay, Ohio for $11.1 million. This property is fully leased to one tenant on a 14.2 year lease. Financing Activity On January 22, 2021, we issued $5.5 million of floating rate debt swapped to a fixed rate of 3.24% in connection with the industrial property acquisition on the same date, with a maturity date of February 15, 2031. On February 11, 2021, we added a new $65.0 million term loan component to our Credit Facility, inclusive of a $15.0 million delayed funding component. The New Term Loan has a maturity date of 60 months from the closing of the amended Credit Facility and a London Inter-bank Offered Rate floor of 25 basis points.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION	GLADSTONE COMMERCIAL CORPORATION SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2020 (Dollars in Thousands) Initial Cost Total Cost Location of Property Encumbrances Land Buildings & Improvement Land Buildings & Total Accumulated Net Real Year Date Raleigh, North Carolina (4) Office Building $ — $ 960 $ 4,481 $ 1,039 $ 960 $ 5,520 $ 6,480 $ 2,409 $ 4,071 1997 12/23/2003 Canton, Ohio (4) Office Building — 186 3,083 500 187 3,582 3,769 1,658 2,111 1994 1/30/2004 Akron, Ohio (4) Office Building — 1,973 6,771 3,107 1,974 9,877 11,851 3,653 8,198 1968/1999 4/29/2004 Canton, North Carolina Industrial Building 3,123 150 5,050 7,285 150 12,335 12,485 3,298 9,187 1998/2014 7/6/2004 Crenshaw, Pennsylvania (4) Industrial Building — 100 6,574 269 100 6,843 6,943 2,903 4,040 1991 8/5/2004 Lexington, North Carolina (4) Industrial Building — 820 2,107 69 820 2,176 2,996 954 2,042 1986 8/5/2004 Mt. Pocono, Pennsylvania (4) Industrial Building — 350 5,819 18 350 5,837 6,187 2,463 3,724 1995/1999 10/15/2004 San Antonio, Texas (4) Office Building — 843 7,514 2,240 843 9,754 10,597 3,964 6,633 1999 2/10/2005 Big Flats, New York Industrial Building 2,049 275 6,459 515 275 6,974 7,249 2,632 4,617 2001 4/15/2005 Wichita, Kansas (4) Office Building — 1,525 9,703 327 1,525 10,030 11,555 4,138 7,417 2000 5/18/2005 Eatontown, New Jersey Office Building 2,574 1,351 3,520 534 1,351 4,054 5,405 1,700 3,705 1991 7/7/2005 Duncan, South Carolina (4) Industrial Building — 783 10,790 1,889 783 12,679 13,462 4,919 8,543 1984/2001/2007 7/14/2005 Duncan, South Carolina (4) Industrial Building — 195 2,682 470 195 3,152 3,347 1,223 2,124 1984/2001/2007 7/14/2005 Clintonville, Wisconsin (4) Industrial Building — 55 4,717 3,250 55 7,967 8,022 2,665 5,357 1992/2013 10/31/2005 Richmond, Virginia (4) Office Building — 736 5,336 486 736 5,822 6,558 2,207 4,351 1972 12/30/2005 Champaign, Illinois (5) Office Building — 687 2,036 (1,057) 326 1,340 1,666 754 912 1996 2/21/2006 Burnsville, Minnesota Office Building 7,764 3,511 8,746 7,329 3,511 16,075 19,586 6,654 12,932 1984 5/10/2006 Menomonee Falls, Wisconsin (4) Industrial Building — 625 6,911 686 625 7,597 8,222 2,914 5,308 1986/2000 6/30/2006 Baytown, Texas (4) Medical Office Building — 221 2,443 2,478 221 4,921 5,142 1,931 3,211 1997 7/11/2006 Mason, Ohio Office Building 3,560 797 6,258 725 797 6,983 7,780 2,792 4,988 2002 1/5/2007 Raleigh, North Carolina (4) Industrial Building — 1,606 5,513 4,148 1,606 9,661 11,267 3,576 7,691 1994 2/16/2007 Tulsa, Oklahoma Industrial Building — — 14,057 548 — 14,605 14,605 5,872 8,733 2004 3/1/2007 Hialeah, Florida Industrial Building — 3,562 6,672 769 3,562 7,441 11,003 2,697 8,306 1956/1992 3/9/2007 Mason, Ohio (4) Retail Building — 1,201 4,961 — 1,201 4,961 6,162 1,749 4,413 2007 7/1/2007 Cicero, New York (4) Industrial Building — 299 5,019 — 299 5,019 5,318 1,714 3,604 2005 9/6/2007 Grand Rapids, Michigan Office Building 4,886 1,629 10,500 308 1,629 10,808 12,437 3,819 8,618 2001 9/28/2007 Bolingbrook, Illinois (4) Industrial Building — 1,272 5,003 991 1,272 5,994 7,266 2,287 4,979 2002 9/28/2007 Decatur, Georgia (4) Medical Office Building — 783 3,241 — 783 3,241 4,024 1,140 2,884 1989 12/13/2007 Decatur, Georgia (4) Medical Office Building — 205 847 — 205 847 1,052 298 754 1989 12/13/2007 Decatur, Georgia (4) Medical Office Building — 257 1,062 — 257 1,062 1,319 374 945 1989 12/13/2007 Lawrenceville, Georgia (4) Initial Cost Total Cost Location of Property Encumbrances Land Buildings & Improvement Land Buildings & Total Accumulated Net Real Year Date Medical Office Building — 678 2,807 — 678 2,807 3,485 988 2,497 2005 12/13/2007 Snellville, Georgia (4) Medical Office Building — 176 727 — 176 727 903 256 647 1986 12/13/2007 Covington, Georgia (4) Medical Office Building — 232 959 — 232 959 1,191 338 853 2000 12/13/2007 Conyers, Georgia (4) Medical Office Building — 296 1,228 — 296 1,228 1,524 432 1,092 1994 12/13/2007 Cumming, Georgia Medical Office Building 2,634 738 3,055 2,524 741 5,576 6,317 1,621 4,696 2004 12/13/2007 Reading, Pennsylvania Industrial Building 3,337 491 6,202 — 491 6,202 6,693 2,062 4,631 2007 1/29/2008 Fridley, Minnesota Office Building 4,380 1,354 8,074 1,768 1,383 9,813 11,196 3,390 7,806 1985/2006 2/26/2008 Pineville, North Carolina Industrial Building 1,940 669 3,028 293 669 3,321 3,990 1,097 2,893 1985 4/30/2008 Marietta, Ohio Industrial Building 4,734 829 6,607 529 829 7,136 7,965 2,265 5,700 1992/2007 8/29/2008 Chalfont, Pennsylvania Industrial Building 4,275 1,249 6,420 854 1,249 7,274 8,523 2,365 6,158 1987 8/29/2008 Orange City, Iowa Industrial Building 5,353 258 5,861 6 258 5,867 6,125 1,843 4,282 1990 12/15/2010 Hickory, North Carolina Office Building 5,728 1,163 6,605 357 1,163 6,962 8,125 2,911 5,214 2008 4/4/2011 Springfield, Missouri (4) Office Building — 1,700 12,038 924 1,845 12,817 14,662 3,600 11,062 2006 6/20/2011 Boston Heights, Ohio Office Building 2,263 449 3,010 10 449 3,020 3,469 1,145 2,324 2011 10/20/2011 Parsippany, New Jersey (4) Office Building — 1,696 7,077 252 1,696 7,329 9,025 2,454 6,571 1984 10/28/2011 Dartmouth, Massachusetts Retail Location 3,304 — 4,236 — — 4,236 4,236 1,078 3,158 2011 11/18/2011 Springfield, Missouri Retail Location 1,222 — 2,275 — — 2,275 2,275 742 1,533 2005 12/13/2011 Pittsburgh, Pennsylvania Office Building 2,326 281 3,205 743 281 3,948 4,229 1,271 2,958 1968 12/28/2011 Ashburn, Virginia Office Building 6,052 706 7,858 — 705 7,859 8,564 2,314 6,250 2002 1/25/2012 Ottumwa, Iowa Industrial Building 2,708 212 5,072 310 212 5,382 5,594 1,515 4,079 1970 5/30/2012 New Albany, Ohio Office Building 6,908 1,658 8,746 — 1,658 8,746 10,404 2,760 7,644 2007 6/5/2012 Columbus, Georgia Office Building 3,779 1,378 4,520 — 1,378 4,520 5,898 1,592 4,306 2012 6/21/2012 Columbus, Ohio (4) Office Building — 542 2,453 134 542 2,587 3,129 993 2,136 1981 6/28/2012 Jupiter, Florida (4) Office Building — 1,160 11,994 — 1,160 11,994 13,154 3,026 10,128 2011 9/26/2012 Fort Worth, Texas Industrial Building 10,321 963 15,647 — 963 15,647 16,610 3,881 12,729 2005 11/8/2012 Columbia, South Carolina Office Building 14,890 1,905 20,648 438 1,905 21,086 22,991 7,224 15,767 2010 11/21/2012 Egg Harbor, New Jersey Office Building 2,949 1,627 3,017 315 1,627 3,332 4,959 964 3,995 1985 3/28/2013 Vance, Alabama (4) Industrial Building — 457 10,529 6,692 457 17,221 17,678 3,440 14,238 2013 5/9/2013 Blaine, Minnesota (5) Office Building 7,193 1,060 10,518 (1,702) 842 9,034 9,876 3,327 6,549 2009 5/10/2013 Austin, Texas Office Building 30,827 2,330 44,021 134 2,330 44,155 46,485 16,922 29,563 1999 7/9/2013 Allen, Texas Office Building 7,620 2,699 7,945 1,467 2,699 9,412 12,111 3,357 8,754 1998 7/10/2013 Englewood, Colorado (4) Office Building — 1,503 11,739 208 1,503 11,947 13,450 3,652 9,798 2008 12/11/2013 Novi, Michigan Industrial Building 3,701 352 5,626 — 352 5,626 5,978 1,365 4,613 1988 12/27/2013 Allen, Texas Retail Building 2,728 874 3,634 — 874 3,634 4,508 849 3,659 2004 3/27/2014 Colleyville, Texas Initial Cost Total Cost Location of Property Encumbrances Land Buildings & Improvement Land Buildings & Total Accumulated Net Real Year Date Retail Building 2,518 1,277 2,424 — 1,277 2,424 3,701 591 3,110 2000 3/27/2014 Rancho Cordova, California (5) Office Building 4,486 752 6,176 (541) 641 5,746 6,387 1,509 4,878 1986 4/22/2014 Coppell, Texas Retail Building 2,900 1,448 3,349 — 1,448 3,349 4,797 765 4,032 2005 5/8/2014 Columbus, Ohio (4) Office Building — 990 8,017 2,860 990 10,877 11,867 3,058 8,809 1986 5/13/2014 Taylor, Pennsylvania Industrial Building 21,600 3,101 25,405 1,248 3,101 26,653 29,754 5,283 24,471 2000/2006 6/9/2014 Aurora, Colorado (4) Industrial Building — 2,882 3,917 96 2,882 4,013 6,895 1,028 5,867 1983 7/1/2014 Indianapolis, Indiana Office Building 5,455 502 6,422 1,859 498 8,285 8,783 2,152 6,631 1981/2014 9/3/2014 Denver, Colorado (4) Industrial Building — 1,621 7,071 243 1,621 7,314 8,935 1,646 7,289 1985 10/31/2014 Monroe, Michigan Industrial Building 9,632 658 14,607 — 657 14,608 15,265 2,761 12,504 2004 12/23/2014 Monroe, Michigan Industrial Building 6,742 460 10,225 — 460 10,225 10,685 1,933 8,752 2004 12/23/2014 Richardson, Texas Office Building 12,991 2,728 15,372 1,135 2,728 16,507 19,235 4,086 15,149 1985/2008 3/6/2015 Birmingham, Alabama (4) Office Building — 650 2,034 60 650 2,094 2,744 567 2,177 1982/2010 3/20/2015 Dublin, Ohio Office Building 3,800 1,338 5,058 1,086 1,338 6,144 7,482 1,374 6,108 1980/Various 5/28/2015 Draper, Utah Office Building 11,930 3,248 13,129 74 3,248 13,203 16,451 2,998 13,453 2008 5/29/2015 Hapeville, Georgia Office Building 6,845 2,272 8,778 263 2,272 9,041 11,313 1,801 9,512 1999/2007 7/15/2015 Villa Rica, Georgia Industrial Building 3,477 293 5,277 18 293 5,295 5,588 1,030 4,558 2000/2014 10/20/2015 Taylorsville, Utah Office Building 8,867 3,008 10,659 435 3,008 11,094 14,102 2,703 11,399 1997 5/26/2016 Fort Lauderdale, Florida Office Building 12,625 4,117 15,516 3,378 4,117 18,894 23,011 3,664 19,347 1984 9/12/2016 King of Prussia, Pennsylvania Office Building 14,401 3,681 15,739 473 3,681 16,212 19,893 2,918 16,975 2001 12/14/2016 Conshohocken, Pennsylvania Office Building 10,095 1,996 10,880 — 1,996 10,880 12,876 1,532 11,344 1996 6/22/2017 Philadelphia, Pennsylvania Industrial Building 14,924 5,896 16,282 27 5,906 16,299 22,205 2,669 19,536 1994/2011 7/7/2017 Maitland, Florida Office Building 15,356 3,073 19,661 431 3,091 20,074 23,165 3,714 19,451 1998 7/31/2017 Maitland, Florida Office Building 7,699 2,095 9,339 — 2,095 9,339 11,434 1,328 10,106 1999 7/31/2017 Columbus, Ohio Office Building 8,939 1,926 11,410 (1) 1,925 11,410 13,335 1,723 11,612 2007 12/1/2017 Salt Lake City, Utah (4) Office Building — 4,446 9,938 771 4,446 10,709 15,155 1,606 13,549 2007 12/1/2017 Vance, Alabama (4) Industrial Building — 459 12,224 44 469 12,258 12,727 1,260 11,467 2018 3/9/2018 Columbus, Ohio Industrial Building 4,524 681 6,401 — 681 6,401 7,082 756 6,326 1990 9/20/2018 Detroit, Michigan Industrial Building 6,389 1,458 10,092 10 1,468 10,092 11,560 793 10,767 1997 10/30/2018 Detroit, Michigan (4) Industrial Building — 662 6,681 10 672 6,681 7,353 534 6,819 2002/2016 10/30/2018 Lake Mary, Florida Office Building 10,316 3,018 11,756 87 3,020 11,841 14,861 1,023 13,838 1997/2018 12/27/2018 Moorestown, New Jersey (4) Industrial Building — 471 1,825 — 471 1,825 2,296 213 2,083 1991 2/8/2019 Indianapolis, Indiana (4) Industrial Building — 255 2,809 — 255 2,809 3,064 203 2,861 1989/2019 2/28/2019 Ocala, Florida (4) Industrial Building — 1,286 8,535 — 1,286 8,535 9,821 505 9,316 2001 4/5/2019 Ocala, Florida (4) Industrial Building — 725 4,814 253 725 5,067 5,792 285 5,507 1965/2007 4/5/2019 Delaware, Ohio (4) Initial Cost Total Cost Location of Property Encumbrances Land Buildings & Improvement Land Buildings & Total Accumulated Net Real Year Date Industrial Building — 316 2,355 — 316 2,355 2,671 165 2,506 2005 4/30/2019 Tifton, Georgia Industrial Building 8,467 — 15,190 1,725 1,725 15,190 16,915 785 16,130 1995/2003 6/18/2019 Denton, Texas (4) Industrial Building — 1,497 4,151 — 1,496 4,152 5,648 262 5,386 2012 7/30/2019 Temple, Texas (4) Industrial Building — 200 4,335 65 200 4,400 4,600 225 4,375 1973/2006 9/26/2019 Temple, Texas (4) Industrial Building — 296 6,425 99 296 6,524 6,820 334 6,486 1978/2006 9/26/2019 Indianapolis, Indiana (4) Industrial Building — 1,158 5,162 4 1,162 5,162 6,324 354 5,970 1967/1998 11/14/2019 Jackson, Tennessee Industrial Building 4,656 311 7,199 — 311 7,199 7,510 250 7,260 2019 12/16/2019 Carrollton, Georgia Industrial Building 4,138 291 6,720 — 292 6,719 7,011 225 6,786 2015/2019 12/17/2019 New Orleans, Louisiana Industrial Building 3,706 2,168 4,667 (2) 2,166 4,667 6,833 256 6,577 1975 12/17/2019 San Antonio, Texas Industrial Building 3,804 775 6,877 (2) 773 6,877 7,650 268 7,382 1985 12/17/2019 Port Allen, Louisiana Industrial Building 2,819 292 3,411 (2) 291 3,410 3,701 168 3,533 1983/2005 12/17/2019 Albuquerque, New Mexico Industrial Building 1,824 673 2,291 (3) 671 2,290 2,961 93 2,868 1998/2017 12/17/2019 Tucson, Arizona Industrial Building 3,414 819 4,636 (2) 817 4,636 5,453 176 5,277 1987/1995/2005 12/17/2019 Albuquerque, New Mexico Industrial Building 3,453 818 5,219 (4) 815 5,218 6,033 195 5,838 2000/2018 12/17/2019 Indianapolis, Indiana (4) Industrial Building — 489 3,956 206 493 4,158 4,651 137 4,514 1987 1/8/2020 Houston, Texas Industrial Building 9,772 1,714 14,170 3 1,717 14,170 15,887 385 15,502 2000/2018 1/27/2020 Charlotte, North Carolina Industrial Building 5,279 1,458 6,778 4 1,461 6,779 8,240 234 8,006 1995/1999/2006 1/27/2020 St. Charles, Missouri Industrial Building 2,920 924 3,749 4 928 3,749 4,677 105 4,572 2012 1/27/2020 Crandall, Georgia Industrial Building 17,224 2,711 26,632 115 2,711 26,747 29,458 641 28,817 2020 3/9/2020 Terre Haute, Indiana (4) Industrial Building — 502 8,076 — 502 8,076 8,578 81 8,497 2010 9/1/2020 Montgomery, Alabama (4) Industrial Building — 599 11,290 3 602 11,290 11,892 96 11,796 1990/1997 10/14/2020 Huntsville, Alabama Industrial Building 10,348 1,445 15,040 — 1,445 15,040 16,485 21 16,464 2001 12/18/2020 Pittsburgh, Pennsylvania Industrial Building 6,375 1,422 10,094 — 1,422 10,094 11,516 13 11,503 1994 12/21/2020 $ 459,838 $ 142,993 $ 925,501 $ 71,711 $ 144,269 $ 995,936 $ 1,140,205 $ 231,876 $ 908,329 (1) The aggregate cost for land and building improvements for federal income tax purposes is the same as the total gross cost of land, building improvements and acquisition costs capitalized for asset acquisitions under ASC 360, which is $1,140.2 million. (2) Depreciable life of all buildings is the shorter of the useful life of the asset or 39 years. Depreciable life of all improvements is the shorter of the useful life of the assets or the life of the respective leases on each building, which range from 5-20 years. (3) The net real estate figure includes real estate held for sale as of December 31, 2020 of $8.1 million. (4) These properties are in our unencumbered pool of assets on our Credit Facility. (5) These properties were impaired during the year ended December 31, 2020. The following table reconciles the change in the balance of real estate during the years ended December 31, 2020, 2019 and 2018, respectively (in thousands): 2020 2019 2018 Balance at beginning of period $ 1,064,389 $ 949,822 $ 906,850 Additions: Acquisitions during period 111,049 108,972 53,432 Improvements 11,696 10,580 4,824 Deductions: Dispositions during period (43,383) (3,172) (15,284) Impairments during period (3,546) (1,813) — Balance at end of period $ 1,140,205 (1) $ 1,064,389 (2) $ 949,822 (3) (1) The real estate figure includes $11.5 million of real estate held for sale as of December 31, 2020. (2) The real estate figure includes $7.4 million of real estate held for sale as of December 31, 2019. (3) The real estate figure includes $3.2 million of real estate held for sale as of December 31, 2018. The following table reconciles the change in the balance of accumulated depreciation during the years ended December 31, 2020, 2019 and 2018, respectively (in thousands): 2020 2019 2018 Balance at beginning of period $ 210,944 $ 178,475 $ 153,387 Additions during period 36,034 32,838 29,915 Dispositions during period (15,102) (369) (4,827) Balance at end of period $ 231,876 (1) $ 210,944 (2) $ 178,475 (3) (1) The accumulated depreciation figure includes $3.4 million of real estate held for sale as of December 31, 2020. (2) The accumulated depreciation figure includes $3.4 million of real estate held for sale as of December 31, 2019. (3) The accumulated depreciation figure includes $0.2 million of real estate held for sale as of December 31, 2018.

Organization, Basis of Presen_2

Organization, Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Subsidiaries	Subsidiaries We conduct substantially all of our operations through the Operating Partnership. We currently control the sole general partner of the Operating Partnership and own, directly or indirectly, a majority of the limited partnership interests in the Operating Partnership (“Non-controlling OP Units”) through two of our subsidiaries, GCLP Business Trust I and II. The financial position and results of operations of the Operating Partnership are consolidated within our financial statements. As of December 31, 2020 and 2019, the Company owned 98.6% and 98.6%, respectively, of the outstanding OP Units (See Note 8, “Equity and Mezzanine Equity” for additional discussion regarding OP Units). Gladstone Commercial Lending, LLC, a Delaware limited liability company (“Gladstone Commercial Lending”), a subsidiary of ours, was created to conduct all operations related to our real estate mortgage loans. As the Operating Partnership currently owns all of the membership interests of Gladstone Commercial Lending, the financial position and results of operations of Gladstone Commercial Lending are consolidated with ours. Gladstone Commercial Advisers, Inc., a Delaware corporation (“Commercial Advisers”), and wholly-owned taxable REIT subsidiary (“TRS”) of ours, was created to collect any non-qualifying income related to our real estate portfolio. There has been no such income earned to date. Since we own 100% of the voting securities of Commercial Advisers, the financial position and results of operations of Commercial Advisers are consolidated within our financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could materially differ from those estimates.
Real Estate and Lease Intangibles	Real Estate and Lease Intangibles We record investments in real estate at cost and capitalize improvements and replacements when they extend the useful life or improve the efficiency of the asset. We expense costs of repairs and maintenance as such costs are incurred. We compute depreciation using the straight-line method over the estimated useful life, or up to 39 years, for buildings and improvements, five Most properties that we acquire are already being operated as rental properties, which we consider to be asset acquisitions under Accounting Standards Codification (“ASC”) 360, “Property Plant and Equipment” (“ASC 360”). When an acquisition is considered an asset acquisition, ASC 360 requires that the purchase price of real estate be allocated to the acquired tangible assets and liabilities, consisting of land, building, tenant improvements, long-term debt assumed and identified intangible assets and liabilities, typically the value of above-market and below-market leases, the value of in-place leases, the value of lease origination costs and the value of tenant relationships, based in each case on their fair values. ASC 360 allows us to capitalize all expenses related to an acquisition accounted for as an asset acquisition into the cost of the acquisition. Management’s estimates of fair value are made using methods similar to those used by independent appraisers (e.g. discounted cash flow analysis). Factors considered by management in its analysis include an estimate of carrying costs during hypothetical expected lease-up periods considering current market conditions and costs to execute similar leases. We also consider information obtained about each property as a result of our pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the tangible and intangible assets acquired and liabilities assumed. In estimating carrying costs, management also includes lost reimbursement of real estate taxes, insurance and other operating expenses as well as estimates of lost rents at market rates during the hypothetical expected lease-up periods, which generally range from nine We allocate purchase price to the fair value of the tangible assets of an acquired property by valuing the property as if it were vacant. The “as-if-vacant” value is allocated to land, building and tenant improvements based on management’s determination of the relative fair values of these assets on the date of acquisition. Above-market and below-market in-place lease fair values for acquired properties are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. When determining the non-cancelable term of the lease, we evaluate which fixed-rate renewal options, if any, should be included. The capitalized above-market lease values, included in the accompanying consolidated balance sheets as part of deferred rent receivable, are amortized as a reduction of rental income over the remaining non-cancelable terms of the respective leases. Total amortization related to above-market lease values was $0.8 million, $1.1 million, and $1.1 million for the years ended December 31, 2020, 2019, and 2018, respectively. The capitalized below-market lease values, included in the accompanying consolidated balance sheets as part of deferred rent liability, are amortized as an increase to rental income over the remaining non-cancelable terms of the respective leases, including any below market renewal periods. Total amortization related to below-market lease values was $2.8 million, $2.5 million, and $2.0 million for the years ended December 31, 2020, 2019, and 2018, respectively. The total amount of the remaining intangible assets acquired, which consists of in-place lease values, lease origination costs, and customer relationship intangible values, are allocated based on management’s evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant. Characteristics to be considered by management in determining these values include the nature and extent of our existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality and our expectations of lease renewals (including those existing under the terms of the lease agreement), among other factors. The value of in-place leases and lease origination costs are amortized to amortization expense over the remaining term of the respective leases, which generally range from seven Should a tenant terminate its lease, the unamortized portion of the above-market and below-market lease values would be charged to rental income and the unamortized portion of in-place lease values, lease origination costs and customer relationship intangibles will be charged to amortization expense through the revised termination date.
Business Combinations	Most properties that we acquire are already being operated as rental properties, which we consider to be asset acquisitions under Accounting Standards Codification (“ASC”) 360, “Property Plant and Equipment” (“ASC 360”). When an acquisition is considered an asset acquisition, ASC 360 requires that the purchase price of real estate be allocated to the acquired tangible assets and liabilities, consisting of land, building, tenant improvements, long-term debt assumed and identified intangible assets and liabilities, typically the value of above-market and below-market leases, the value of in-place leases, the value of lease origination costs and the value of tenant relationships, based in each case on their fair values. ASC 360 allows us to capitalize all expenses related to an acquisition accounted for as an asset acquisition into the cost of the acquisition.
Impairment Charges	Impairment Charges We account for the impairment of real estate in accordance with ASC 360-10-35, “Property, Plant, and Equipment,” which requires us to periodically review the carrying value of each property to determine if circumstances indicate impairment of the carrying value of the investment exists or that depreciation periods should be modified. If circumstances indicate the possibility of impairment, we prepare a projection of the undiscounted future cash flows, without interest charges, of the specific property and determine if the carrying value of the investment in such property is recoverable. In performing the analysis, we consider such factors as each tenant’s payment history and financial condition, the likelihood of lease renewal, business conditions in the industry in which the tenants operate, whether there are indications that the fair value of the real estate has decreased or our intended holding period of the property is shortened. If the carrying amount is more than the aggregate undiscounted future cash flows, we would recognize an impairment loss to the extent the carrying amount exceeds the estimated fair value of the property. We evaluate our entire portfolio of properties each quarter for any impairment indicators and perform an impairment analysis on those select properties that have an indication of impairment.
Held for Sale Property	Held for Sale Property For properties considered held for sale, we cease depreciating and amortizing the property and value the property at the lower of depreciated and amortized cost or fair value, less costs to dispose. We present qualifying assets and liabilities and the results of operations that have been sold, or otherwise qualify as held for sale, as discontinued operations in all periods when the sale meets the definition of discontinued operations. Under GAAP, the definition of discontinued operations is the disposal of a component or group of components that is disposed or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on our operations and financial results. The components of the property’s net income (loss) that are reflected as discontinued operations if classified as such include operating results, depreciation, amortization, and interest expense.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider cash equivalents to be short-term, highly-liquid investments that are both readily convertible to cash and have a maturity of three months or less at the time of purchase, except that any such investments purchased with funds held in escrow or similar accounts are classified as restricted cash. Items classified as cash equivalents include money-market deposit accounts. At times, the balance of our cash and cash equivalents may exceed federally insurable limits.
Restricted Cash	Restricted Cash Restricted cash consists of security deposits and receipts from tenants for reserves. These funds will be released to the tenants upon completion of agreed upon tasks, as specified in the lease agreements, mainly consisting of maintenance and repairs on the buildings and upon receipt by us of evidence of insurance and tax payments. For purposes of the consolidated statements of cash flows, changes in restricted cash caused by changes in reserves held for tenants are shown as investing activities. Changes in restricted cash caused by changes in security deposits are reflected as financing activities.
Funds Held in Escrow	Funds Held in Escrow Funds held in escrow consist of funds held by certain of our lenders for properties held as collateral by these lenders. These funds will be released to us upon completion of agreed upon tasks, as specified in the mortgage agreements, mainly consisting of maintenance and repairs on the buildings, and when evidence of insurance and tax payments has been submitted to the lenders. For the purposes of the consolidated statements of cash flows, changes in funds held in escrow caused by changes in lender held reserve balances are shown as investing activities.
Deferred Financing Costs	Deferred Financing CostsDeferred financing costs consist of costs incurred to obtain financing, including legal fees, origination fees and administrative fees. The costs are deferred and amortized using the straight-line method, which approximates the effective interest method, over the term of the secured financing.
Gains on Sale of Real Estate, Net	Gains on Sale of Real Estate, NetGains on sale of real estate, net, consist of the excess consideration received for a property over the property carrying value at the time of sale, or gains on real estate, offset by consideration received for a property less than the property carrying value at the time of sale, or loss on sale of real estate.
Lease Revenue	Lease Revenue Lease revenue includes rents that each tenant pays in accordance with the terms of its respective lease reported evenly over the non-cancelable term of the lease. Most of our leases contain rental increases at specified intervals. We recognize such revenues on a straight-line basis. Deferred rent receivable in the accompanying consolidated balance sheet includes the cumulative difference between lease revenue, as recorded on a straight-line basis, and rents received from the tenants in accordance with the lease terms, along with the capitalized above-market in-place lease values of certain acquired properties. Deferred rent liability in the accompanying consolidated balance sheet includes the capitalized below-market in-place lease values of certain acquired properties. Accordingly, we determine, in our judgment, to what extent the deferred rent receivable applicable to each specific tenant is collectible. We review deferred rent receivable, as it relates to straight line rents, on a quarterly basis and take into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the geographic area in which the property is located. In the event that the collectability of deferred rent with respect to any given tenant is in doubt, we record an allowance for uncollectible accounts or record a direct write-off of the specific rent receivable. We incurred $0.2 million in deferred rent write offs during each of the years ended December 31, 2020 and 2018, respectively. No such reserves or direct write offs were recorded during the year ended 2019. Tenant recovery revenue includes payments from tenants as reimbursements for franchise taxes, management fees, insurance, maintenance and repairs, utilities, and ground lease payments. We recognize tenant recovery revenue in the same periods that we incur the related expenses. We do not record any tenant recovery revenues or operating expenses associated with costs paid directly by our tenants for our net leased properties. On January 1, 2020, we completed the integration of the accounting records of certain of our triple net leased third-party asset managed properties into our accounting system and paid out property operating expenses of our operating bank accounts. For periods prior to January 1, 2020, we recorded property operating expenses and offsetting lease revenues for these certain triple net leased properties on a net basis. Beginning January 1, 2020, we began to record the property operating expenses and offsetting lease revenues for these triple net leased properties on a gross basis, as we have amended our process whereby we are paying operating expenses on behalf of our tenants and receiving reimbursement, whereas, previously these tenants were paying these expenses directly, with limited insight provided to us.
Income Taxes	Income Taxes We have operated and intend to continue to operate in a manner that will allow us to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and, accordingly, will not be subject to federal income taxes on amounts distributed to stockholders (except income from foreclosure property), provided that we distribute at least 90% of our REIT taxable income to our stockholders and meet certain other conditions. To the extent that we satisfy the distribution requirement but distribute less than 100% of our taxable income, we will be subject to federal corporate income tax on our undistributed income. Commercial Advisers is a wholly-owned TRS that is subject to federal and state income taxes. Though Commercial Advisers has had no activity to date, we would account for any future income taxes in accordance with the provisions of ASC 740, “Income Taxes.” Under ASC 740-10-25, we would account for income taxes using the asset and liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We may recognize a tax benefit from an uncertain tax position when it is more-likely-than-not (defined as a likelihood of more than 50%) that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. If a tax position does not meet the more-likely-than-not recognition threshold, despite our belief that the filing position is supportable, the benefit of that tax position is not recognized in the statements of operations. We recognize interest and penalties, as applicable, related to unrecognized tax benefits as a component of income tax expense. We recognize unrecognized tax benefits in the period that the uncertainty is eliminated by either affirmative agreement of the
Asset Retirement Obligations	Asset Retirement ObligationsASC 410, “Asset Retirement and Environmental Obligation,” requires an entity to recognize a liability for a conditional asset retirement obligation when incurred if the liability can be reasonably estimated. ASC 410-20-20 clarifies that the term “Conditional Asset Retirement Obligation” refers to a legal obligation (pursuant to existing laws or by contract) 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. ASC 410-20-25-6 clarifies when an entity would have sufficient information to reasonably estimate the fair value of an asset retirement obligation.
Stock Issuance Costs	Stock Issuance Costs We account for stock issuance costs in accordance with SEC Staff Accounting Bulletin (“SAB”) Topic 5.A, which states that incremental costs directly attributable to a proposed or actual offering of securities may properly be deferred and charged against the gross proceeds of the offering. Accordingly, we record costs incurred related to our ongoing equity offerings to other assets on our consolidated balance sheet and ratably apply these amounts to the cost of equity as stock is issued. If an equity offering is subsequently terminated and there are amounts remaining in other assets that have not been allocated to the cost of the offering, the remaining amounts are recorded as a general and administrative expense on our consolidated statements of operations.
Comprehensive Income	Comprehensive Income We record the effective portion of changes in the fair value of the interest rate cap and swap agreements that qualify as cash flow hedges to accumulated other comprehensive income. For the years ended December 31, 2020, 2019, and 2018, we reconciled net income to comprehensive income on the consolidated statements of operations and comprehensive income in the accompanying consolidated financial statements.
Segment Reporting	Segment Reporting We manage our operations on an aggregated, single segment basis for purposes of assessing performance and making operating decisions, and, accordingly, have only one reporting and operating segment.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-13, “Financial Instruments - Credit Losses (Topic 326)” (“ASU 2016-13”). The new standard requires more timely recognition of credit losses on loans and other financial instruments that are not accounted for at fair market value through net income. The standard also requires that financial assets measured at amortized cost be presented at the net amounts anticipated to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. We are required to measure all expected credit losses based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets. We adopted ASU 2016-13 beginning with the three months ended March 31, 2020. Adopting ASU 2016-13 has not resulted in a material impact to our consolidated financial statements, as we do not have any loans receivable outstanding. In March 2020, the FASB issued Accounting Standards Update 2020-04, “Reference Rate Reform (Topic 848)” (“ASU 2020-04”), subsequently clarified in January 2021 by Accounting Standards Update 2021-01 “Reference Rate Reform (Topic 848)” (“ASU 2021-01”). The main provisions of this update provide optional expedients and exceptions for contracts, hedging relationships, and other transactions that reference the London Inter-bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020, and ASU 2021-01 is effective for all entities as of January 31, 2021. We adopted ASU 2020-04 beginning with the three months ended March 31, 2020, and ASU 2021-01 as of January 31, 2021. Adopting ASU 2020-04 and ASU 2021-01 has not resulted in a material impact to our consolidated statements, as ASU 2020-04 and ASU 2021-01 allows for prospective application of any changes in the effective interest rate for our LIBOR based debt, and allows for practical expedients that will allow us to treat our derivative instruments designated as cash flow hedges consistent with how they are currently accounted for. In April 2020, the FASB issued a staff question-and-answer document, Topic 842 and Topic 840: Accounting for Lease Concessions related to the Effects of the COVID-19 Pandemic (“COVID-19 Q&A”), to address frequently asked questions pertaining to lease concessions arising from the effects of the COVID-19 pandemic. Existing lease guidance requires entities to determine if a lease concession was a result of a new arrangement reached with the tenant, which would be addressed under the lease modification accounting framework, or if a lease concession was under the enforceable rights and obligations within the existing lease agreement, which would not fall under the lease modification accounting framework. The COVID-19 Q&A clarifies that entities may elect to not evaluate whether lease-related relief granted in light of the effects of COVID-19 is a lease modification, as long as the concession does not result in a substantial increase in rights of the lessor or obligations of the lessee. This election is available for concessions that result in the total payments required by the modified contract being substantially the same as or less than the total payments required by the original contract. At this time, we have granted rent deferrals to three tenants representing approximately 2% of total portfolio rents. The agreements with these tenants include current partial payments in exchange for rent deferrals of varying terms with deferred amounts to be paid by the respective tenant back to us, for the period starting in July 2020 and ending in March 2021. We have elected to not evaluate these leases under the lease modification accounting framework.
Loss Per Share of Common Stock	We computed basic earnings (loss) per share for the years ended December 31, 2020, 2019 and 2018, respectively, using the weighted average number of shares outstanding during the periods. Diluted earnings (loss) per share for the years ended December 31, 2020, 2019 and 2018, reflects additional shares of common stock related to our convertible Senior Common Stock, if the effect would be dilutive, that would have been outstanding if dilutive potential shares of common stock had been issued, as well as an adjustment to net income (loss) available (attributable) to common stockholders as applicable to common stockholders that would result from their assumed issuance (dollars in thousands, except per share amounts).
Fair Value Measurements and Disclosures	The fair value of the interest rate cap agreements is recorded in other assets on our accompanying consolidated balance sheets. We record changes in the fair value of the interest rate cap agreements quarterly based on the current market valuations at quarter end. If the interest rate cap qualifies for hedge accounting, the change in the estimated fair value is recorded to accumulated other comprehensive income to the extent that it is effective, with any ineffective portion recorded to interest expense in our consolidated statements of operations and comprehensive income. If the interest rate cap does not qualify for hedge accounting, or if it is determined the hedge is ineffective, any change in the fair value is recognized in interest expense in our consolidated statements of operations and comprehensive income.

Earnings per Share of Common _2

Earnings per Share of Common Stock (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Basic and Diluted Loss Per Share of Common Stock	The following tables set forth the computation of basic and diluted earnings (loss) per share of common stock for the years ended December 31, 2020, 2019 and 2018, respectively. The OP Units held by Non-controlling OP Unitholders (which may be redeemed for shares of common stock) have been excluded from the diluted earnings per share calculation, as there would be no effect on the amounts since the Non-controlling OP Unitholders’ share of income would also be added back to net income. Net income figures are presented net of such non-controlling interests in the earnings per share calculation. We computed basic earnings (loss) per share for the years ended December 31, 2020, 2019 and 2018, respectively, using the weighted average number of shares outstanding during the periods. Diluted earnings (loss) per share for the years ended December 31, 2020, 2019 and 2018, reflects additional shares of common stock related to our convertible Senior Common Stock, if the effect would be dilutive, that would have been outstanding if dilutive potential shares of common stock had been issued, as well as an adjustment to net income (loss) available (attributable) to common stockholders as applicable to common stockholders that would result from their assumed issuance (dollars in thousands, except per share amounts). For the year ended December 31, 2020 2019 2018 Calculation of basic earnings (loss) per share of common stock: Net income (loss) available (attributable) to common stockholders $ 3,149 $ (4,760) $ 973 Denominator for basic weighted average shares of common stock (1) 34,040,085 30,695,902 28,675,934 Basic earnings (loss) per share of common stock $ 0.09 $ (0.16) $ 0.03 Calculation of diluted earnings (loss) per share of common stock: Net income (loss) available (attributable) to common stockholders $ 3,149 $ (4,760) $ 973 Net income (loss) available (attributable) to common stockholders plus assumed conversions (2) $ 3,149 $ (4,760) $ 973 Denominator for basic weighted average shares of common stock (1) 34,040,085 30,695,902 28,675,934 Effect of convertible Senior Common Stock (2) — — — Denominator for diluted weighted average shares of common stock (2) 34,040,085 30,695,902 28,675,934 Diluted earnings (loss) per share of common stock $ 0.09 $ (0.16) $ 0.03 (1) The weighted average number of OP Units held by Non-controlling OP Unitholders was 502,586, 700,924, and 128,233 for the years ended December 31, 2020, 2019, and 2018, respectively. (2) We excluded convertible shares of Senior Common Stock of 628,263, 674,611 and 724,336 from the calculation of diluted earnings per share for the years ended December 31, 2020, 2019 and 2018, respectively, because it was anti-dilutive.

Real Estate and Intangible As_2

Real Estate and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Components of Investments in Real Estate	The following table sets forth the components of our investments in real estate as of December 31, 2020 and 2019, respectively, excluding real estate held for sale as of December 31, 2020 and 2019, respectively (dollars in thousands): December 31, 2020 December 31, 2019 Real estate: Land (1) $ 142,853 $ 137,532 Building and improvements 916,601 851,245 Tenant improvements 69,229 68,201 Accumulated depreciation (228,468) (207,523) Real estate, net $ 900,215 $ 849,455
Summary of Properties Acquired	During the year ended December 31, 2020 and 2019 we acquired nine and 18 properties, respectively, which are summarized below (dollars in thousands): Year Ended Aggregate Square Footage Weighted Average Lease Term Aggregate Purchase Price Capitalized Acquisition Costs December 31, 2020 (1) 1,717,502 12.2 years $ 129,974 $ 814 (3) December 31, 2019 (2) 2,562,483 12.8 years $ 130,313 $ 1,231 (3) (1) On January 8, 2020, we acquired a 64,800 square foot property in Indianapolis, Indiana for $5.3 million. The property is leased to three tenants, with a weighted average lease term of 7.2 years. On January 27, 2020, we acquired a 320,838 square foot, three-property portfolio in Houston, Texas, Charlotte, North Carolina, and St. Charles, Missouri for $34.7 million. The portfolio has a weighted average lease term of 20.0 years. On March 9, 2020, we acquired a 504,400 square foot property in Crandall, Georgia for $32.0 million. This property is fully leased to one tenant for 10.5 years. On September 1, 2020, we acquired a 153,600 square foot property in Terre Haute, Indiana for $10.6 million. This property is fully leased to one tenant for 9.7 years. On October 14, 2020, we acquired a 240,714 square foot property in Montgomery, Alabama for $14.3 million. This property is fully leased to one tenant for 7.2 years. On December 18, 2020, we acquired a 277,883 square foot property in Huntsville, Alabama for $20.0 million. This property is fully leased to one tenant for 9.2 years. On December 21, 2020, we acquired a 155,267 square foot property in Pittsburgh, Pennsylvania for $13.0 million. This property is fully leased to one tenant for 10.0 years. (2) On February 8, 2019, we acquired a 26,050 square foot property in Moorestown, New Jersey for $2.7 million. This property is fully leased to one tenant for 15.1 years. On February 28, 2019, we acquired a 34,800 square foot property in Indianapolis, Indiana for $3.6 million. This property is fully leased to one tenant for 10.0 years. On April 5, 2019, we acquired a 383,000 square foot, two property portfolio located in Ocala, Florida for $19.2 million. This portfolio is leased to one tenant, and has a weighted average lease term of 20.1 years. On April 30, 2019, we acquired a 54,430 square foot property in Columbus, Ohio for $3.2 million. This property is fully leased to one tenant for 7.0 years. On June 18, 2019, we acquired a 676,031 square foot property in Tifton, Georgia, for $17.9 million. This property is fully leased to one tenant for 8.5 years. On July 30, 2019, we acquired a 78,452 square foot property in Denton, Texas, for $6.6 million. This property is fully leased to one tenant for 11.9 years. On September 26, 2019, we acquired a 211,000 square foot two property portfolio in Temple, Texas, for $14.1 million. This portfolio is leased to one tenant, and has a weighted average lease term of 20.0 years. On November 14, 2019, we acquired a 231,509 square foot property in Indianapolis, Indiana, for $8.2 million. This property is fully leased to one tenant for 13.5 years. On December 16, 2019, we acquired a 241,000 square foot property in Jackson, Tennessee, for $9.1 million. This property is fully leased to one tenant for 9.7 years. On December 17, 2019, we acquired a 117,000 square foot property in Carrollton, Georgia, for $8.1 million. This property is fully leased to one tenant for 12.0 years. On December 17, 2019, we acquired a 509,211 square foot six property portfolio, for $37.6 million. The portfolio is fully leased to one tenant, and has a weighted average lease term of 10.0 years.
Fair Value of Acquired Assets and Liabilities Assumed	We determined the fair value of assets acquired and liabilities assumed related to the properties acquired during the year ended December 31, 2020 and 2019, respectively, as follows (dollars in thousands): Year ended December 31, 2020 Year ended December 31, 2019 Acquired assets and liabilities Purchase price Purchase price Land $ 11,264 (1) $ 12,351 Building 97,101 93,502 Tenant Improvements 2,684 3,119 In-place Leases 9,076 9,013 Leasing Costs 6,352 7,274 Customer Relationships 5,239 5,019 Above Market Leases 529 (2) 1,950 Below Market Leases (2,271) (3) (1,915) (4) Total Purchase Price $ 129,974 $ 130,313 (1) This amount includes $2,711 of land value subject to a land lease agreement, which we may purchase for a nominal fee. (2) This amount includes $53 of loans receivable included in Other assets on the consolidated balance sheets. (3) This amount includes $62 of prepaid rent included in Other liabilities on the consolidated balance sheets. (4) This amount includes $187 of prepaid rent included in Other liabilities on the consolidated balance sheets.
Future Operating Lease Payments from Tenants under Non-Cancelable Leases	Future operating lease payments from tenants under non-cancelable leases, excluding tenant reimbursement of expenses, for each of the five succeeding fiscal years and thereafter is as follows (dollars in thousands): Year Tenant Lease Payments 2021 $ 110,417 2022 106,438 2023 99,170 2024 91,083 2025 83,418 Thereafter 323,814 $ 814,340
Lease Revenue	The table below sets forth the allocation of lease revenue between fixed contractual payments and variable lease payments for the years ended December 31, 2020 and 2019, respectively (dollars in thousands): For the twelve months ended December 31, (Dollars in Thousands) Lease revenue reconciliation 2020 2019 $ Change % Change Fixed lease payments $ 117,248 $ 110,273 $ 6,975 6.3 % Variable lease payments 15,904 4,114 11,790 286.6 % $ 133,152 $ 114,387 $ 18,765 16.4 %
Carrying Value of Intangible Assets and Accumulated Amortization	The following table summarizes the carrying value of intangible assets, liabilities and the accumulated amortization for each intangible asset and liability class as of December 31, 2020 and 2019, excluding real estate held for sale as of December 31, 2020 and 2019, respectively (dollars in thousands): December 31, 2020 December 31, 2019 Lease Intangibles Accumulated Amortization Lease Intangibles Accumulated Amortization In-place leases $ 99,254 $ (54,168) $ 92,906 $ (48,468) Leasing costs 73,707 (37,801) 68,256 (33,705) Customer relationships 68,268 (31,881) 65,363 (28,887) $ 241,229 $ (123,850) $ 226,525 $ (111,060) Deferred Rent Receivable/(Liability) Accumulated (Amortization)/Accretion Deferred Rent Receivable/(Liability) Accumulated (Amortization)/Accretion Above market leases $ 15,076 $ (10,670) $ 16,502 $ (10,005) Below market leases and deferred revenue (38,319) 17,686 (34,322) 15,000 $ (23,243) $ 7,016 $ (17,820) $ 4,995
Weighted Average Amortization Period for Intangible Assets Acquired and Liabilities Assumed	The weighted average amortization periods in years for the intangible assets acquired and liabilities assumed during the years ended December 31, 2020 and 2019, respectively, were as follows: Intangible Assets & Liabilities 2020 2019 In-place leases 14.2 13.6 Leasing costs 14.2 13.6 Customer relationships 17.8 19.0 Above market leases 14.8 10.7 Below market leases 13.3 10.3 All intangible assets & liabilities 15.0 15.0
Estimated Aggregate Amortization Expense	The estimated aggregate amortization expense to be recorded for in-place leases, leasing costs and customer relationships for each of the five succeeding fiscal years and thereafter is as follows, excluding real estate held for sale as of December 31, 2020 (dollars in thousands): Year Estimated Amortization Expense 2021 $ 19,828 2022 17,890 2023 15,435 2024 13,211 2025 11,467 Thereafter 39,548 $ 117,379
Summary of Estimated Aggregate Rental Income	The estimated aggregate rental income to be recorded for the amortization of both above and below market leases for each of the five succeeding fiscal years and thereafter is as follows, excluding real estate held for sale as of December 31, 2020 (dollars in thousands): Year Net Increase to Rental Income 2021 $ 3,527 2022 2,575 2023 2,154 2024 2,009 2025 1,626 Thereafter 4,160 $ 16,051 (1) Does not include ground lease amortization of $176.

Real Estate Dispositions, Hel_2

Real Estate Dispositions, Held for Sale, and Impairment Charges (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Summary Properties Sold	During the year ended December 31, 2020, we sold six non-core properties, located in Charlotte, North Carolina, Maple Heights, Ohio, Champaign, Illinois, and Austin, Texas, which are summarized in the table below (dollars in thousands): Aggregate Square Footage Sold Sales Price Sales Costs Gain on Sale of Real Estate, net 551,743 $ 37,532 $ 1,698 $ 8,096
Components of Operating Income from Real Estate and Related Assets Disposed	The table below summarizes the components of operating income from the real estate and related assets disposed of during the years ended December 31, 2020, 2019, and 2018, respectively (dollars in thousands): For the year ended December 31, 2020 2019 2018 Operating revenue $ 2,703 $ 3,176 $ 3,919 Operating expense 1,534 3,697 1,609 Other income (expense), net 8,181 (1) (54) (586) Income (expense) from real estate and related assets sold $ 9,350 $ (575) $ 1,724 (1) Includes an $8.1 million gain on sale of real estate, net.
Components of Income from Real Estate and Related Assets Held for Sale	The table below summarizes the components of income from real estate and related assets held for sale at December 31, 2020 (dollars in thousands): For the year ended December 31, 2020 2019 2018 Operating revenue $ 1,861 $ 1,769 $ 1,288 Operating expense 2,938 (1) 985 792 Other expense, net (388) (364) (394) (Loss) income from real estate and related assets held for sale $ (1,465) $ 420 $ 102 (1) Includes a $1.9 million impairment charge.
Components of Assets and Liabilities Held for Sale	The table below summarizes the components of the assets and liabilities held for sale reflected on the accompanying consolidated balance sheet (dollars in thousands): December 31, 2020 December 31, 2019 Assets Held for Sale Total real estate held for sale $ 8,114 $ 3,990 Lease intangibles, net 384 — Total Assets Held for Sale $ 8,498 $ 3,990 Liabilities Held for Sale Asset retirement obligation $ — $ 21 Total Liabilities Held for Sale $ — $ 21

Mortgage Notes Payable and Cr_2

Mortgage Notes Payable and Credit Facility (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Company's Mortgage Notes Payable and Credit Facility	Our mortgage notes payable and Credit Facility as of December 31, 2020 and December 31, 2019 are summarized below (dollars in thousands): Encumbered properties at Carrying Value at Stated Interest Rates at Scheduled Maturity Dates at December 31, 2020 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2020 Mortgage and other secured loans: Fixed rate mortgage loans 61 $ 435,029 $ 412,771 (1) (2) Variable rate mortgage loans 7 24,809 45,151 (3) (2) Premiums and discounts, net - (182) (239) N/A N/A Deferred financing costs, mortgage loans, net - (3,479) (3,944) N/A N/A Total mortgage notes payable, net 68 $ 456,177 $ 453,739 (4) Variable rate revolving credit facility 50 (6) $ 53,900 $ 52,400 LIBOR + 1.65% 7/2/2023 Deferred financing costs, revolving credit facility - (588) (821) N/A N/A Total revolver, net 50 $ 53,312 $ 51,579 Variable rate term loan facility - $ 160,000 $ 122,300 LIBOR + 1.60% 7/2/2024 Deferred financing costs, term loan facility - (797) (1,024) N/A N/A Total term loan, net N/A $ 159,203 $ 121,276 Total mortgage notes payable and credit facility 118 $ 668,692 $ 626,594 (5) (1) Interest rates on our fixed rate mortgage notes payable vary from 2.80% to 6.63%. (2) We have 53 mortgage notes payable with maturity dates ranging from 11/1/2021 through 8/1/2037. (3) Interest rates on our variable rate mortgage notes payable vary from one month LIBOR + 2.35% to one month LIBOR +2.75%. At December 31, 2020, one month LIBOR was approximately 0.14%. (4) The weighted average interest rate on the mortgage notes outstanding at December 31, 2020, was approximately 4.24%. (5) The weighted average interest rate on all debt outstanding at December 31, 2020, was approximately 3.45%. (6) The amount we may draw under our Credit Facility is based on a percentage of the fair value of a combined pool of 50 unencumbered properties as of December 31, 2020. N/A - Not Applicable
Summary of Long-Term Mortgages	During the year ended December 31, 2020, we repaid seven mortgages collateralized by eight properties, which are summarized below (dollars in thousands): Aggregate Fixed Rate Debt Repaid Weighted Average Interest Rate on Fixed Rate Debt Repaid $ 18,109 5.19 % Aggregate Variable Rate Debt Repaid Weighted Average Interest Rate on Variable Rate Debt Repaid $ 19,284 LIBOR + 2.20% During the year ended December 31, 2020, we issued six mortgages, collateralized by six properties, which are summarized below (dollars in thousands): Aggregate Fixed Rate Debt Issued Weighted Average Interest Rate on Fixed Rate Debt $ 52,578 (1) 3.18 % (1) We issued an aggregate of $18.3 million of fixed rate debt in connection with our three property portfolio acquisition on January 27, 2020, with a maturity date of February 1, 2030 and a rate of 3.625%. We issued $17.5 million of floating rate debt swapped to fixed of 2.8% in connection with our March 9, 2020 property acquisition, with a maturity date of March 9, 2030. We issued $10.3 million of fixed rate debt in connection with our December 18, 2020 property acquisition, with a maturity date of January 1, 2028 and a rate of 3.0%. We issued $6.4 million of floating rate debt swapped to fixed of 3.25% in connection with our December 21, 2020 property acquisition, with a maturity date of December 23, 2030.
Schedule of Principal Payments of Mortgage Notes Payable	Scheduled principal payments of mortgage notes payable for each of the five succeeding fiscal years and thereafter are as follows (dollars in thousands): Year Scheduled Principal Payments 2021 $ 23,056 2022 105,756 2023 72,495 2024 49,616 2025 37,571 Thereafter 171,344 $ 459,838 (1) (1) This figure is does not include $(0.2) million premiums and (discounts), net, and $3.5 million of deferred financing costs, which are reflected in mortgage notes payable on the consolidated balance sheet.
Summary of Interest Rate Cap Agreement	The following table summarizes the interest rate caps at December 31, 2020 and 2019 (dollars in thousands): December 31, 2020 December 31, 2019 Aggregate Cost Aggregate Notional Amount Aggregate Fair Value Aggregate Notional Amount Aggregate Fair Value $ 1,537 (1) $ 177,060 $ 9 $ 166,728 $ 250 (1) We have entered into various interest rate cap agreements on new variable rate debt with LIBOR caps ranging from 1.50% to 2.75%. December 31, 2020 December 31, 2019 Aggregate Notional Amount Aggregate Fair Value Asset Aggregate Fair Value Liability Aggregate Notional Amount Aggregate Fair Value Asset Aggregate Fair Value Liability $ 68,829 $ — $ (3,055) $ 45,777 $ — $ (1,173)
Schedule of Derivative Instruments	The following tables present the impact of our derivative instruments in the consolidated financial statements (dollars in thousands): Amount of loss recognized in Comprehensive Income 2020 2019 2018 Derivatives in cash flow hedging relationships Interest rate caps $ (337) $ (749) $ 77 Interest rate swaps (1,882) (1,229) (260) Total $ (2,219) $ (1,978) $ (183) The following table sets forth certain information regarding our derivative instruments (dollars in thousands): Asset (Liability) Derivatives Fair Value at Derivatives Designated as Hedging Instruments Balance Sheet Location December 31, 2020 December 31, 2019 Interest rate caps Other assets $ 9 $ 250 Interest rate swaps Other liabilities (3,055) (1,173) Total derivative liabilities, net $ (3,046) $ (923)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Future Lease Payments Due Under Operating Leases	Future minimum rental payments due under the terms of these leases as of December 31, 2020, are as follows (dollars in thousands): Year Future Lease Payments Due Under Operating Leases 2021 $ 477 2022 489 2023 492 2024 493 2025 494 Thereafter 7,305 Total anticipated lease payments $ 9,750 Less: amount representing interest (4,063) Present value of lease payments $ 5,687

Equity and Mezzanine Equity (Ta

Equity and Mezzanine Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Dividends Declared	We paid the following distributions per share for the years ended December 31, 2020, 2019, and 2018: For the year ended December 31, 2020 2019 2018 Common Stock and Non-controlling OP Units $ 1.5018 $ 1.5000 $ 1.5000 Senior Common Stock 1.0500 1.0500 1.0500 Series A Preferred Stock — (1) 1.6038191 (1) 1.9374996 Series B Preferred Stock — (1) 1.5521 (1) 1.8750 Series D Preferred Stock 1.7500 1.7500 1.7500 Series E Preferred Stock 1.656252 0.404900 (3) — Series F Preferred Stock 0.7500 (2) — — (1) We fully redeemed our Series A and B Preferred Stock on October 28, 2019. (2) Prior to July 1, 2020, Series F Preferred Stock distributions were declared, but not paid, as there were no Series F Preferred Stock shares outstanding on the applicable dividend record dates. (3) We issued our Series E Preferred Stock on October 4, 2019.
Summary of Changes in Stockholders' Equity	The characterization of distributions during each of the last three years is reflected in the table below: Ordinary Income Return of Capital Long-Term Capital Gains Common Stock and OP Units For the year ended December 31, 2018 24.46913 % 75.53087 % — % For the year ended December 31, 2019 44.46159 % 55.53841 % — % For the year ended December 31, 2020 37.28754 % 62.71246 % — % Senior Common Stock For the year ended December 31, 2018 100.00000 % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 100.00000 % — % — % Series A Preferred Stock For the year ended December 31, 2018 100.00000 % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 — % — % — % Series B Preferred Stock For the year ended December 31, 2018 100.00000 % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 — % — % — % Series D Preferred Stock For the year ended December 31, 2018 100.00000 % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 100.00000 % — % — % Series E Preferred Stock For the year ended December 31, 2018 — % — % — % For the year ended December 31, 2019 100.00000 % — % — % For the year ended December 31, 2020 100.00000 % — % — % Series F Preferred Stock For the year ended December 31, 2018 — % — % — % For the year ended December 31, 2019 — % — % — % For the year ended December 31, 2020 100.00000 % — % — %

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Monthly Distributions Declared by Company's Board of Directors	On January 12, 2021, our Board of Directors declared the following monthly distributions for the months of January, February, and March of 2021: Record Date Payment Date Common Stock and Non-controlling OP Unit Distributions per Share Series D Preferred Distributions per Share Series E Preferred Distributions per Share January 22, 2021 January 29, 2021 $ 0.12515 $ 0.1458333 $ 0.138021 February 17, 2021 February 26, 2021 0.12515 0.1458333 0.138021 March 18, 2021 March 31, 2021 0.12515 0.1458333 0.138021 $ 0.37545 $ 0.4374999 $ 0.414063 Series F Preferred Stock Distributions Record Date Payment Date Distribution per Share January 27, 2021 February 5, 2021 $ 0.125 February 24, 2021 March 5, 2021 0.125 March 24, 2021 April 5, 2021 0.125 $ 0.375 Senior Common Stock Distributions Payable to the Holders of Record During the Month of: Payment Date Distribution per Share January February 5, 2021 $ 0.0875 February March 5, 2021 0.0875 March April 5, 2021 0.0875 $ 0.2625

Organization, Basis of Presen_3

Organization, Basis of Presentation and Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020USD ($)segmenttenantsubsidiaryshares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Organization And Significant Accounting Policies [Line Items]
Number of subsidiaries interest owned in general and limited partnership | subsidiary	2
Non-qualifying income related to real estate portfolio	$ 0
Amortization related to above-market lease	52,000	$ 53,000	$ 0
Amortization related to below-market lease	2,800,000	2,500,000	2,000,000
Total amortization expense related to intangible assets	$ 19,400,000	19,200,000	17,700,000
Maturity period of highly-liquid investments at the time of purchase	three months or less
Payments of deferred financing costs	$ (606,000)	(2,480,000)	(386,000)
Total amortization expense related to deferred financing costs is included in interest expense	1,531,000	1,641,000	1,445,000
Deferred rent write-offs	$ 200,000	0
Uncertain tax positions percentage	50.00%
Uncertain tax positions	$ 0	0	0
ARO liabilities accrued in connection with acquisitions	0	164,000	0
Expenses recorded to general and administrative expense	100,000	100,000	100,000
Aggregate undiscounted obligation on properties	$ 5,600,000
Number of reporting segments | segment	1
Number of operating segments | segment	1
Rent obligations deferred, number of tenants | tenant	3
Rent obligations deferred, percentage	2.00%
Above Market Leases
Organization And Significant Accounting Policies [Line Items]
Amortization related to above-market lease	$ 800,000	$ 1,100,000
Amortization related to above-market lease			$ 1,100,000
Minimum
Organization And Significant Accounting Policies [Line Items]
Expected lease up period for estimating carrying costs	9 months
Remaining term of in-place leases and unamortized lease	7 years
REIT taxable income to its stockholders (as percent)	90.00%
Percentage of discount rate for calculating undiscounted obligation (as percent)	2.50%
Maximum
Organization And Significant Accounting Policies [Line Items]
Expected lease up period for estimating carrying costs	18 months
Remaining term of in-place leases and unamortized lease	15 years
REIT taxable income to its stockholders (as percent)	100.00%
Percentage of discount rate for calculating undiscounted obligation (as percent)	7.00%
Building and Improvements
Organization And Significant Accounting Policies [Line Items]
Estimated useful life	39 years
Equipment and Fixtures | Minimum
Organization And Significant Accounting Policies [Line Items]
Estimated useful life	5 years
Equipment and Fixtures | Maximum
Organization And Significant Accounting Policies [Line Items]
Estimated useful life	20 years
GCLP Business Trust I
Organization And Significant Accounting Policies [Line Items]
Subsidiary and business trust of the Company, formed under the laws of the Commonwealth of Massachusetts, date	Dec. 28, 2005
Percentage of limited partnership interest transferred to business unit (as percent)	99.00%
Number of trust shares exchanged for limited partnership interest (in shares) | shares	100
Operating Partnership
Organization And Significant Accounting Policies [Line Items]
Company ownership percentage of voting securities	98.60%	98.60%
Gladstone Commercial Advisers, Inc.
Organization And Significant Accounting Policies [Line Items]
Company ownership percentage of voting securities	100.00%
GCLP Business Trust II
Organization And Significant Accounting Policies [Line Items]
Percentage of limited partnership interest transferred to business unit (as percent)	1.00%
Number of trust shares exchanged for general partnership interest (in shares) | shares	100

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail)		Jul. 14, 2020	Feb. 20, 2020$ / sharesshares	Jan. 08, 2019	Jul. 31, 2015	Dec. 31, 2020USD ($)officer	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Related Party Transaction [Line Items]
Number of executive officers | officer						2
Due to adviser and administrator	[1]					$ 2,960,000	$ 2,904,000
Annual base management fee, in percentage of stockholders' equity, adjusted to unrealized gains or losses (as percent)		0.425%		1.50%
Quarterly base management fee, in percentage of stockholders' equity, adjusted to unrealized gains or losses (as percent)		0.10625%		0.375%
Base management fee	[2]					$ 5,648,000	5,174,000	$ 5,054,000
Pre-incentive quarterly fee FFO in percentage of common stockholders' equity that will reward the adviser (as percent)						2.00%
Pre-incentive annual fee FFO in percentage of common stockholders' equity that will reward the adviser (as percent)						8.00%
Amount to be paid to adviser in percentage of pre-incentive fee condition one (as percent)						15.00%
Incentive fee	[2]					$ 4,301,000	3,688,000	3,042,000
Portion of incentive fee waived						$ 0	0	0
Capital gains-based incentive fee percentage (as percent)						15.00%
Capital gain fee						$ 0	0	0
Notice period for termination of agreement without cause						120 days
Percentage of independent directors to terminate the Amended Advisory Agreement (as a percent)					66.67%
Termination fee payable (as percent)					200.00%
Payment period for termination of agreement						24 months
Notice period for termination of agreement with cause						30 days
Administration fee	[2]					$ 1,598,000	1,690,000	1,605,000
Fees paid						$ 100,000	$ 200,000	$ 100,000
Financing fee on total secured mortgages (as percent)						0.25%	0.20%	0.11%
Selling commissions (as percent)			6.00%
Dealer management fee (as percent)			3.00%
Dealer Management Agreement | Series F Cumulative Redeemable Preferred Stock | Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, dividend rate (as percent)			6.00%
Redeemable preferred stock, shares authorized (in shares) | shares			20,000,000
Redeemable preferred stock, par value (in dollars per share) | $ / shares			$ 0.001
Redeemable preferred stock, dividend reinvestment plan, shares authorized (in shares) | shares			6,000,000
Minimum
Related Party Transaction [Line Items]
Percentage of the amount of the mortgage (as percent)						0.15%
Maximum
Related Party Transaction [Line Items]
Percentage of the amount of the mortgage (as percent)						1.00%
[1]	Refer to Note 2 “Related-Party Transactions ”
[2]	Refer to Note 2 “Related-Party Transactions”

Earnings per Share of Common _3

Earnings per Share of Common Stock - Basic and Diluted Loss Per Share of Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Calculation of basic earnings (loss) per share of common stock:
Net income (loss) available (attributable) to common stockholders	$ 3,149	$ (4,760)	$ 973
Denominator for basic weighted average shares of common stock (in shares)	34,040,085	30,695,902	28,675,934
Basic earnings (loss) per share of common stock (in dollars per share)	$ 0.09	$ (0.16)	$ 0.03
Calculation of diluted earnings (loss) per share of common stock:
Net income (loss) available (attributable) to common stockholders	$ 3,149	$ (4,760)	$ 973
Net loss attributable to common stockholders plus assumed conversions	$ 3,149	$ (4,760)	$ 973
Denominator for basic weighted average shares of common stock (in shares)	34,040,085	30,695,902	28,675,934
Effect of convertible senior common stock (in shares)	0	0	0
Denominator for diluted weighted average shares of common stock (in shares)	34,040,085	30,695,902	28,675,934
Diluted earnings (loss) per share of common stock (in dollars per share)	$ 0.09	$ (0.16)	$ 0.03

Earnings per Share of Common _4

Earnings per Share of Common Stock - Basic and Diluted Loss Per Share of Common Stock Narrative (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Number of OP Units held by Non-controlling OP Unitholders (in units)	503,033	479,637
Weighted Average
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Number of OP Units held by Non-controlling OP Unitholders (in units)	502,586	700,924	128,233
Senior Common Stock
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Anti-dilutive convertible shares of senior common stock excluded from calculation of diluted earnings per share (in shares)	628,263	674,611	724,336

Real Estate and Intangible As_3

Real Estate and Intangible Assets - Components of Investments in Real Estate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real estate:
Land	$ 142,853	$ 137,532
Building and improvements	916,601	851,245
Tenant improvements	69,229	68,201
Accumulated depreciation	(228,468)	(207,523)
Total real estate, net	900,215	849,455
Land value subject to land lease agreements	4,436
Building and Improvements
Real Estate Properties [Line Items]
Depreciation	$ 36,000	$ 32,800	$ 29,900

Real Estate and Intangible As_4

Real Estate and Intangible Assets - Summary of Properties Acquired (Detail) $ in Thousands

Dec. 21, 2020USD ($)ft²tenant

Dec. 18, 2020USD ($)ft²tenant

Oct. 14, 2020USD ($)ft²tenant

Sep. 01, 2020USD ($)ft²tenant

Mar. 09, 2020USD ($)ft²tenant

Jan. 27, 2020USD ($)ft²property

Jan. 08, 2020USD ($)ft²tenant

Dec. 17, 2019USD ($)ft²propertytenant

Dec. 16, 2019USD ($)ft²tenant

Nov. 14, 2019USD ($)ft²tenant

Sep. 26, 2019USD ($)ft²propertytenant

Jul. 30, 2019USD ($)ft²tenant

Jun. 18, 2019USD ($)ft²tenant

Apr. 30, 2019USD ($)ft²tenant

Apr. 05, 2019USD ($)ft²tenantproperty

Feb. 28, 2019USD ($)ft²tenant

Feb. 08, 2019USD ($)ft²tenant

Dec. 31, 2020USD ($)ft²property

Dec. 31, 2019USD ($)ft²property

Business Acquisition [Line Items]

Number of properties acquired | property

9

18

Aggregate Purchase Price

$ 129,974

$ 130,313

Series of Property Acquisitions

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

1,717,502

2,562,483

Lease Term

12 years 2 months 12 days

12 years 9 months 18 days

Aggregate Purchase Price

$ 129,974

$ 130,313

Acquisition Expenses

$ 814

$ 1,231

Six Property Portfolio

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

509,211

Lease Term

10 years

Aggregate Purchase Price

$ 37,600

Number of tenants | tenant

1

Number of properties in portfolio | property

6

Indianapolis, Indiana

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

64,800

231,509

34,800

Lease Term

7 years 2 months 12 days

13 years 6 months

10 years

Aggregate Purchase Price

$ 5,300

$ 8,200

$ 3,600

Number of tenants | tenant

3

1

1

Houston, Texas; Charlotte, North Carolina; St. Charles, Missouri

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

320,838

Lease Term

20 years

Aggregate Purchase Price

$ 34,700

Number of properties in portfolio | property

3

Crandall, Georgia

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

504,400

Lease Term

10 years 6 months

Aggregate Purchase Price

$ 32,000

Number of tenants | tenant

1

Terre Haute, Indiana

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

153,600

Lease Term

9 years 8 months 12 days

Aggregate Purchase Price

$ 10,600

Number of tenants | tenant

1

Montgomery, Alabama

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

240,714

Lease Term

7 years 2 months 12 days

Aggregate Purchase Price

$ 14,300

Number of tenants | tenant

1

Huntsville, Alabama

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

277,883

Lease Term

9 years 2 months 12 days

Aggregate Purchase Price

$ 20,000

Number of tenants | tenant

1

Pittsburgh, Pennsylvania

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

155,267

Lease Term

10 years

Aggregate Purchase Price

$ 13,000

Number of tenants | tenant

1

Moorestown, New Jersey

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

26,050

Lease Term

15 years 1 month 6 days

Aggregate Purchase Price

$ 2,700

Number of tenants | tenant

1

Ocala, Florida

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

383,000

Lease Term

20 years 1 month 6 days

Aggregate Purchase Price

$ 19,200

Number of tenants | tenant

1

Number of properties in portfolio | property

2

Columbus, Ohio

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

54,430

Lease Term

7 years

Aggregate Purchase Price

$ 3,200

Number of tenants | tenant

1

Tifton, Georgia

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

676,031

Lease Term

8 years 6 months

Aggregate Purchase Price

$ 17,900

Number of tenants | tenant

1

Denton, Texas

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

78,452

Lease Term

11 years 10 months 24 days

Aggregate Purchase Price

$ 6,600

Number of tenants | tenant

1

Temple, Texas

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

211,000

Lease Term

20 years

Aggregate Purchase Price

$ 14,100

Number of tenants | tenant

1

Number of properties in portfolio | property

2

Jackson, Tennessee

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

241,000

Lease Term

9 years 8 months 12 days

Aggregate Purchase Price

$ 9,100

Number of tenants | tenant

1

Carrollton, Georgia

Business Acquisition [Line Items]

Aggregate Square Footage | ft²

117,000

Lease Term

12 years

Aggregate Purchase Price

$ 8,100

Number of tenants | tenant

1

Real Estate and Intangible As_5

Real Estate and Intangible Assets - Fair Value of Acquired Assets and Liabilities Assumed (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Total Purchase Price	$ 129,974	$ 130,313
Land subject to land lease agreement	2,711
Loans receivable	53
Prepaid rent	62	187
Customer Relationships
Business Acquisition [Line Items]
Fair value of assets acquired	5,239	5,019
Above Market Leases
Business Acquisition [Line Items]
Fair value of assets acquired	529	1,950
Below Market Leases
Business Acquisition [Line Items]
Fair Value of Interest Rate Swap Assumed and (Below Market Leases)	(2,271)	(1,915)
Land
Business Acquisition [Line Items]
Fair value of assets acquired	11,264	12,351
Building
Business Acquisition [Line Items]
Fair value of assets acquired	97,101	93,502
Tenant Improvements
Business Acquisition [Line Items]
Fair value of assets acquired	2,684	3,119
In-place Leases
Business Acquisition [Line Items]
Fair value of assets acquired	9,076	9,013
Leasing Costs
Business Acquisition [Line Items]
Fair value of assets acquired	$ 6,352	$ 7,274

Real Estate and Intangible As_6

Real Estate and Intangible Assets - Future Operating Lease Payments from Tenants under Non-Cancelable Leases (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Real Estate [Abstract]
2021	$ 110,417
2022	106,438
2023	99,170
2024	91,083
2025	83,418
Thereafter	323,814
Tenant lease payments	$ 814,340

Real Estate and Intangible As_7

Real Estate and Intangible Assets - Lease Revenue (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Abstract]
Fixed lease payments	$ 117,248	$ 110,273
Variable lease payments	15,904	4,114
Lease payments	133,152	$ 114,387
Fixed lease payments, amount change	6,975
Variable lease payments, amount change	11,790
Lease payments, amount change	$ 18,765
Fixed lease payments, percent change	6.30%
Variable lease payments, percent change	286.60%
Lease payments, percent change	16.40%

Real Estate and Intangible As_8

Real Estate and Intangible Assets - Carrying Value of Intangible Assets and Accumulated Amortization (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Below market leases, gross	$ (38,319)	$ (34,322)
Below market leases, accumulated amortization	17,686	15,000
Amortization of intangible assets	19,400	19,200	$ 17,700
Amortization related to above-market lease	52	53	0
Amortization related to below-market lease	2,800	2,500	2,000
Lease Intangibles
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	241,229	226,525
Finite-lived intangible assets, accumulated amortization	(123,850)	(111,060)
In-place Leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	99,254	92,906
Finite-lived intangible assets, accumulated amortization	(54,168)	(48,468)
Leasing Costs
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	73,707	68,256
Finite-lived intangible assets, accumulated amortization	(37,801)	(33,705)
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	68,268	65,363
Finite-lived intangible assets, accumulated amortization	(31,881)	(28,887)
Above and Below Market Leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible liabilities, gross	(23,243)	(17,820)
Finite-lived intangible liabilities, accumulated amortization	7,016	4,995
Above Market Leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	15,076	16,502
Finite-lived intangible assets, accumulated amortization	(10,670)	(10,005)
Amortization related to above-market lease	$ 800	$ 1,100
Amortization related to above-market lease			$ 1,100

Real Estate and Intangible As_9

Real Estate and Intangible Assets - Weighted Average Amortization Period for Intangible Assets Acquired and Liabilities Assumed (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	15 years	15 years
In-place Leases
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	14 years 2 months 12 days	13 years 7 months 6 days
Leasing Costs
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	14 years 2 months 12 days	13 years 7 months 6 days
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	17 years 9 months 18 days	19 years
Above Market Leases
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	14 years 9 months 18 days	10 years 8 months 12 days
Below Market Leases
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	13 years 3 months 18 days	10 years 3 months 18 days

Real Estate and Intangible A_10

Real Estate and Intangible Assets - Estimated Aggregate Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Abstract]
2021	$ 19,828
2022	17,890
2023	15,435
2024	13,211
2025	11,467
Thereafter	39,548
Lease intangibles, net	$ 117,379	$ 115,465

Real Estate and Intangible A_11

Real Estate and Intangible Assets - Summary of Estimated Aggregate Rental Income (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Schedule Of Operating Leases Future Minimum Payments Receivable [Line Items]
2021	$ 110,417
2022	106,438
2023	99,170
2024	91,083
2025	83,418
Thereafter	323,814
Tenant lease payments	814,340
Ground lease amortization	(176)
Above and Below Market Leases
Schedule Of Operating Leases Future Minimum Payments Receivable [Line Items]
2021	3,527
2022	2,575
2023	2,154
2024	2,009
2025	1,626
Thereafter	4,160
Tenant lease payments	$ 16,051

Real Estate Dispositions, Hel_3

Real Estate Dispositions, Held for Sale, and Impairment Charges - Summary of Properties Sold (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on Sale of Real Estate, net	$ 8,096	$ 2,952	$ 2,763
Assets disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of non-core properties sold | property	6
Aggregate Square Footage | ft²	551,743
Sales Price	$ 37,532
Sales Costs	1,698
Gain on Sale of Real Estate, net	$ 8,096

Real Estate Dispositions, Hel_4

Real Estate Dispositions, Held for Sale, and Impairment Charges - Components of Operating Income from Real Estate and Related Assets Disposed (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate Properties [Line Items]
Gain (loss) on sale of real estate, net	$ 8,096	$ 2,952	$ 2,763
Assets disposed of by sale
Real Estate Properties [Line Items]
Operating revenue	2,703	3,176	3,919
Operating expense	1,534	3,697	1,609
Other income (expense), net	8,181	(54)	(586)
Income (expense) from real estate and related assets sold	9,350	$ (575)	$ 1,724
Gain (loss) on sale of real estate, net	$ 8,096

Real Estate Dispositions, Hel_5

Real Estate Dispositions, Held for Sale, and Impairment Charges - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)
Schedule Of Real Estate Owned Held For Sale [Line Items]
Number of real estate properties, held for sale	3	1
Number of impaired assets, held and used	3
Impairment charge | $	$ 3,621	$ 1,813	$ 0
Charlotte, North Carolina
Schedule Of Real Estate Owned Held For Sale [Line Items]
Number of real estate properties, held for sale		1
Rancho Cordova, California
Schedule Of Real Estate Owned Held For Sale [Line Items]
Impairment charge | $	$ 700

Real Estate Dispositions, Hel_6

Real Estate Dispositions, Held for Sale, and Impairment Charges - Components of Income from Real Estate and Related Assets Held for Sale (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate Properties [Line Items]
Impairment charge	$ 3,621	$ 1,813	$ 0
Real Estate Held for Sale
Real Estate Properties [Line Items]
Operating revenue	1,861	1,769	1,288
Operating expense	2,938	985	792
Other income, net	(388)	(364)	(394)
Income (expense) from real estate and related assets sold	(1,465)	420	$ 102
Impairment charge	$ 1,900	$ 1,800

Real Estate Dispositions, Hel_7

Real Estate Dispositions, Held for Sale, and Impairment Charges - Components of Assets and Liabilities Held for Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets Held for Sale
Total Assets Held for Sale	$ 8,498	$ 3,990
Liabilities Held for Sale
Total Liabilities Held for Sale	0	21
Real Estate Held For Sale
Assets Held for Sale
Total real estate held for sale	8,114	3,990
Lease intangibles, net	384	0
Total Assets Held for Sale	8,498	3,990
Liabilities Held for Sale
Asset retirement obligation	0	21
Total Liabilities Held for Sale	$ 0	$ 21

Mortgage Notes Payable and Cr_3

Mortgage Notes Payable and Credit Facility - Company's Mortgage Notes Payable and Line of Credit (Detail) $ in Thousands	Oct. 27, 2017	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Encumbered properties | property		118
Long-term debt		$ 668,692	$ 626,594
Mortgage notes payable
Debt Instrument [Line Items]
Encumbered properties | property		68
Carrying value		$ 459,838
Premiums and discounts, net		(182)	(239)
Deferred financing costs, net		(3,479)	(3,944)
Long-term debt		$ 456,177	453,739
Fixed rate mortgage loans
Debt Instrument [Line Items]
Encumbered properties | property		61
Carrying value		$ 435,029	412,771
Variable rate mortgage loans
Debt Instrument [Line Items]
Encumbered properties | property		7
Carrying value		$ 24,809	45,151
Variable rate revolving credit facility
Debt Instrument [Line Items]
Encumbered properties | property		50
Variable rate revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Encumbered properties | property		50
Carrying value		$ 53,900	52,400
Deferred financing costs, net		(588)	(821)
Long-term debt		$ 53,312	51,579
Scheduled maturity dates		Jul. 2, 2023
Variable rate term loan facility
Debt Instrument [Line Items]
Carrying value		$ 160,000	122,300
Scheduled maturity dates		Jul. 2, 2024
Term loan facility
Debt Instrument [Line Items]
Deferred financing costs, net		$ (797)	(1,024)
Long-term debt		$ 159,203	$ 121,276
LIBOR
Debt Instrument [Line Items]
Spread on LIBOR (as percent)	2.75%
LIBOR | Variable rate revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Spread on LIBOR (as percent)		1.65%
LIBOR | Variable rate term loan facility
Debt Instrument [Line Items]
Spread on LIBOR (as percent)		1.60%

Mortgage Notes Payable and Cr_4

Mortgage Notes Payable and Credit Facility - Company's Mortgage Notes Payable and Line of Credit Additional Information (Detail)	Oct. 27, 2017	Dec. 31, 2020propertymortgage
Debt Instrument [Line Items]
Weighted average interest rate on debt outstanding (as percent)		3.45%
Encumbered properties		118
LIBOR
Debt Instrument [Line Items]
Spread on LIBOR (as percent)	2.75%
Mortgage notes payable
Debt Instrument [Line Items]
Number of mortgage notes payable | mortgage		53
Maturity date of mortgage notes payable, start date		Nov. 1, 2021
Maturity date of mortgage notes payable, end date		Aug. 1, 2037
Weighted average interest rate on debt outstanding (as percent)		4.24%
Encumbered properties		68
Fixed rate mortgage loans
Debt Instrument [Line Items]
Stated interest rate (as a percent)		5.19%
Encumbered properties		61
Fixed rate mortgage loans | Minimum
Debt Instrument [Line Items]
Stated interest rate (as a percent)		2.80%
Fixed rate mortgage loans | Maximum
Debt Instrument [Line Items]
Stated interest rate (as a percent)		6.63%
Variable rate mortgage loans
Debt Instrument [Line Items]
Encumbered properties		7
Variable rate mortgage loans | LIBOR
Debt Instrument [Line Items]
Variable rate at period end (as percent)		0.14%
Variable rate mortgage loans | Minimum | LIBOR
Debt Instrument [Line Items]
Spread on LIBOR (as percent)		2.35%
Variable rate mortgage loans | Maximum | LIBOR
Debt Instrument [Line Items]
Spread on LIBOR (as percent)		2.75%
Variable rate revolving credit facility
Debt Instrument [Line Items]
Encumbered properties		50
Variable rate revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Encumbered properties		50
Variable rate revolving credit facility | LIBOR | Revolving credit facility
Debt Instrument [Line Items]
Spread on LIBOR (as percent)		1.65%

Mortgage Notes Payable and Cr_5

Mortgage Notes Payable and Credit Facility - Additional Information (Detail)	Jul. 02, 2019USD ($)	Oct. 27, 2017USD ($)	Oct. 31, 2015USD ($)	Dec. 31, 2020USD ($)propertymortgage	Dec. 31, 2019USD ($)	Jul. 01, 2019USD ($)	Oct. 26, 2017USD ($)
Debt Instrument [Line Items]
Number of properties collateralized in mortgage notes payable | property				118
Long-term debt				$ 668,692,000	$ 626,594,000
Line of credit facility, maximum borrowing capacity	$ 160,000,000	$ 75,000,000				$ 75,000,000	$ 25,000,000
Borrowings under revolving credit facility, net				$ 53,312,000	51,579,000
Line of credit at an interest rate (as percent)				1.76%
Weighted average interest rate on debt outstanding (as percent)				3.45%
Mortgage notes payable
Debt Instrument [Line Items]
Number of mortgage notes payable | mortgage				53
Number of properties collateralized in mortgage notes payable | property				68
Net book value of collateralized mortgage properties				$ 687,600,000
Fair value of mortgage notes payable outstanding				468,600,000
Long-term debt				$ 456,177,000	$ 453,739,000
Weighted average interest rate on debt outstanding (as percent)				4.24%
LIBOR
Debt Instrument [Line Items]
Spread on LIBOR (as percent)		2.75%
Term loan facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	160,000,000
Revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 100,000,000					$ 85,000,000
Line of credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 85,000,000
Reduction at each of the leverage tiers (as percent)	0.10%	0.25%
Borrowings under revolving credit facility, net				$ 213,900,000
Letters of credit, outstanding				16,400,000
Line of credit facility, maximum additional amount drawn				$ 19,200,000
Line of credit | Five year term loan facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 25,000,000
Debt instrument term			5 years
Line of credit | Term loan facility
Debt Instrument [Line Items]
Debt instrument term	5 years
Line of credit | Revolving credit facility
Debt Instrument [Line Items]
Debt instrument term	4 years
Debt instrument, fee	$ 1,300,000
Letter of credit
Debt Instrument [Line Items]
Weighted average interest rate on debt outstanding (as percent)				1.65%
Minimum | Term loan facility | LIBOR
Debt Instrument [Line Items]
Spread on LIBOR (as percent)	2.50%
Maximum | Term loan facility | LIBOR
Debt Instrument [Line Items]
Spread on LIBOR (as percent)	2.75%

Mortgage Notes Payable and Cr_6

Mortgage Notes Payable and Credit Facility - Mortgage Notes Payable (Detail) $ in Thousands	Dec. 21, 2020USD ($)	Dec. 18, 2020USD ($)	Mar. 09, 2020USD ($)	Jan. 27, 2020USD ($)property	Oct. 27, 2017	Dec. 31, 2020USD ($)propertymortgage	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Debt repaid						$ 50,662	$ 57,438	$ 27,850
Weighted Average Interest Rate on Fixed Rate Debt Extended						3.45%
Number of properties acquired | property						9	18
Fixed rate mortgage loans
Debt Instrument [Line Items]
Debt repaid						$ 18,109
Stated interest rate (as a percent)						5.19%
Variable rate mortgage loans
Debt Instrument [Line Items]
Debt repaid						$ 19,284
New fixed rate mortgage notes payable
Debt Instrument [Line Items]
Aggregate Fixed Rate Debt Issued						$ 52,578
Weighted Average Interest Rate on Fixed Rate Debt Extended						3.18%
Mortgage notes payable
Debt Instrument [Line Items]
Number of mortgages repaid | mortgage						7
Number of properties collateralized | property						8
Number of long-term mortgages issued | mortgage						6
Number of properties to issue collateralized mortgage notes payable | property						6
Weighted Average Interest Rate on Fixed Rate Debt Extended						4.24%
LIBOR
Debt Instrument [Line Items]
Weighted Average Interest Rate on Variable Rate Debt Repaid					2.75%
LIBOR | Variable rate mortgage loans | Weighted Average
Debt Instrument [Line Items]
Weighted Average Interest Rate on Variable Rate Debt Repaid						2.20%
Property Maturing February 1, 2030 | New fixed rate mortgage notes payable
Debt Instrument [Line Items]
Aggregate Fixed Rate Debt Issued				$ 18,300
Weighted Average Interest Rate on Fixed Rate Debt Extended				3.625%
Number of properties acquired | property				3
Property Maturing March 9, 2030 | New fixed rate mortgage notes payable
Debt Instrument [Line Items]
Aggregate Fixed Rate Debt Issued			$ 17,500
Weighted Average Interest Rate on Fixed Rate Debt Extended			2.80%
Property Maturing January 1, 2028 | New fixed rate mortgage notes payable
Debt Instrument [Line Items]
Aggregate Fixed Rate Debt Issued		$ 10,300
Weighted Average Interest Rate on Fixed Rate Debt Extended		3.00%
Property Maturing December 23, 2030 | New fixed rate mortgage notes payable
Debt Instrument [Line Items]
Aggregate Fixed Rate Debt Issued	$ 6,400
Weighted Average Interest Rate on Fixed Rate Debt Extended	3.25%

Mortgage Notes Payable and Cr_7

Mortgage Notes Payable and Credit Facility - Schedule of Principal Payments of Mortgage Notes Payable (Detail) - Mortgage notes payable - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
2021	$ 23,056
2022	105,756
2023	72,495
2024	49,616
2025	37,571
Thereafter	171,344
Carrying value	459,838
Premiums and discounts, net	(182)	$ (239)
Deferred financing costs, net	$ (3,479)	$ (3,944)

Mortgage Notes Payable and Cr_8

Mortgage Notes Payable and Credit Facility - Interest Rate Caps and Swaps (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Aggregate cost	$ 1,537
Notional amount	177,060	$ 166,728
Fair value asset	$ 9	250
Minimum | LIBOR
Debt Instrument [Line Items]
Interest rate (as percent)	1.50%
Maximum | LIBOR
Debt Instrument [Line Items]
Interest rate (as percent)	2.75%
Interest rate swaps | Counterparty
Debt Instrument [Line Items]
Notional amount	$ 68,829	45,777
Fair value asset	0	0
Fair value liability	$ (3,055)	$ (1,173)

Mortgage Notes Payable and Cr_9

Mortgage Notes Payable and Credit Facility - Derivative Instruments Impact (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Change in unrealized loss related to interest rate hedging instruments, net	$ (2,219)	$ (1,978)
Change in unrealized loss related to interest rate hedging instruments, net			$ (183)
Interest rate caps
Derivative Instruments, Gain (Loss) [Line Items]
Change in unrealized loss related to interest rate hedging instruments, net	(337)	(749)
Change in unrealized loss related to interest rate hedging instruments, net			77
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Change in unrealized loss related to interest rate hedging instruments, net	$ (1,882)	$ (1,229)
Change in unrealized loss related to interest rate hedging instruments, net			$ (260)

Mortgage Notes Payable and C_10

Mortgage Notes Payable and Credit Facility - Derivative Instruments Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability	$ (3,055)	$ (1,173)
Total derivative liabilities, net	(3,046)	(923)
Interest rate caps | Derivatives Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset	$ 9	$ 250

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)lease	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Other Commitments [Line Items]
Number of leases | lease	4
Expenses incurred for the properties listed	$ 117,248	$ 110,273
Weighted average lease term	20 years 1 month 6 days
Weighted average discount rate	5.32%
Line of credit
Other Commitments [Line Items]
Letters of credit, outstanding	$ 16,400
Operating Expense
Other Commitments [Line Items]
Expenses incurred for the properties listed	$ 500	$ 500
Expenses incurred for the properties listed			$ 500

Commitments and Contingencies_2

Commitments and Contingencies - Future Lease Payments Due Under Operating Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Future Lease Payments Due Under Operating Leases
2021	$ 477
2022	489
2023	492
2024	493
2025	494
Thereafter	7,305
Total anticipated lease payments	9,750
Less: amount representing interest	(4,063)
Present value of lease payments	$ 5,687	$ 5,847

Equity and Mezzanine Equity - D

Equity and Mezzanine Equity - Dividends Declared (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Senior Common Stock
Dividends Payable [Line Items]
Common stock, cash paid (in dollars per share)	$ 1.0500	$ 1.0500	$ 1.0500
Series A Preferred Stock
Dividends Payable [Line Items]
Preferred stock, cash paid (in dollars per share)	0	1.6038191	1.9374996
Series B Preferred Stock
Dividends Payable [Line Items]
Preferred stock, cash paid (in dollars per share)	0	1.5521	1.8750
Series D Preferred Stock
Dividends Payable [Line Items]
Preferred stock, cash paid (in dollars per share)	1.7500	1.7500	1.7500
Series E Preferred Stock
Dividends Payable [Line Items]
Preferred stock, cash paid (in dollars per share)	1.656252	0.404900	0
Series F Preferred Stock
Dividends Payable [Line Items]
Preferred stock, cash paid (in dollars per share)	0.7500	0	0
Common Stock and Non-controlling OP Units
Dividends Payable [Line Items]
Common stock, cash paid (in dollars per share)	$ 1.5018	$ 1.5000	$ 1.5000

Equity and Mezzanine Equity - S

Equity and Mezzanine Equity - Summary of Changes in Stockholders' Equity (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Ordinary Income | Common Stock and Non-controlling OP Units
Dividends Payable [Line Items]
Common stock, dividend rate (as percent)	37.28754%	44.46159%	24.46913%
Ordinary Income | Senior Common Stock
Dividends Payable [Line Items]
Common stock, dividend rate (as percent)	100.00%	100.00%	100.00%
Ordinary Income | Series A Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	100.00%	100.00%
Ordinary Income | Series B Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	100.00%	100.00%
Ordinary Income | Series D Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	100.00%	100.00%	100.00%
Ordinary Income | Series E Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	100.00%	100.00%	0.00%
Ordinary Income | Series F Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	100.00%	0.00%	0.00%
Return of Capital | Common Stock and Non-controlling OP Units
Dividends Payable [Line Items]
Common stock, dividend rate (as percent)	62.71246%	55.53841%	75.53087%
Return of Capital | Senior Common Stock
Dividends Payable [Line Items]
Common stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Return of Capital | Series A Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Return of Capital | Series B Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Return of Capital | Series D Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Return of Capital | Series E Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Return of Capital | Series F Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Long-Term Capital Gains | Common Stock and Non-controlling OP Units
Dividends Payable [Line Items]
Common stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Long-Term Capital Gains | Senior Common Stock
Dividends Payable [Line Items]
Common stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Long-Term Capital Gains | Series A Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Long-Term Capital Gains | Series B Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Long-Term Capital Gains | Series D Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Long-Term Capital Gains | Series E Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%
Long-Term Capital Gains | Series F Preferred Stock
Dividends Payable [Line Items]
Preferred stock, dividend rate (as percent)	0.00%	0.00%	0.00%

Equity and Mezzanine Equity - A

Equity and Mezzanine Equity - Additional Information (Detail) $ in Thousands

Jan. 08, 2020USD ($)ft²shares

Nov. 14, 2019USD ($)ft²

Feb. 28, 2019USD ($)ft²

Oct. 30, 2018USD ($)ft²propertyshares

Feb. 29, 2020

Nov. 30, 2019shares

Dec. 31, 2020USD ($)shares

Dec. 31, 2019USD ($)shares

Feb. 20, 2020shares

Feb. 19, 2020shares

Jan. 29, 2020USD ($)

Dec. 03, 2019USD ($)

Jan. 11, 2019USD ($)

Class of Stock [Line Items]

Common stock, shares outstanding (in shares) | shares

35,331,970

32,593,651

60,290,000

86,290,000

Aggregate Purchase Price

$ 129,974

$ 130,313

Units held by noncontrolling owners (in shares) | shares

503,033

479,637

Series D Cumulative Redeemable Preferred Stock

Class of Stock [Line Items]

Minimum vote need to trigger change in control from tender offer (as percent)

90.00%

Preferred Stock | Series D Cumulative Redeemable Preferred Stock

Class of Stock [Line Items]

Preferred stock, dividend rate (as percent)

7.00%

Preferred Stock | Series E Cumulative Redeemable Preferred Stock

Class of Stock [Line Items]

Preferred stock, dividend rate (as percent)

6.625%

Preferred Stock | Series F Preferred Stock

Class of Stock [Line Items]

Number of shares sold (in shares) | shares

100,000

Net proceeds from sale of shares

$ 2,700

Open market dale agreement, value of remaining capacity

633,600

Preferred stock, dividend rate (as percent)

6.00%

Redeemable preferred stock, shares authorized (in shares) | shares

26,000,000

2019 Universal Shelf

Class of Stock [Line Items]

Universal registration statement, amount authorized

377,200

$ 500,000

2020 Universal Shelf

Class of Stock [Line Items]

Universal registration statement, amount authorized

$ 797,100

$ 800,000

2020 Universal Shelf | Preferred Stock | Series F Preferred Stock

Class of Stock [Line Items]

Universal registration statement, amount authorized

$ 636,500

Baird, Goldman Sachs, Stifel, and Fifth Third | Common Stock ATM Program | Common Stock and Non-controlling OP Units

Class of Stock [Line Items]

Maximum aggregate sales price of shares to be issued under open market sale agreement

$ 250,000

Number of shares sold (in shares) | shares

2,700,000

Net proceeds from sale of shares

$ 52,800

Open market dale agreement, value of remaining capacity

183,900

Baird, Goldman Sachs, Stifel, Fifth Third, and U.S. Bancorp Investments, Inc. | Series E Preferred Stock ATM Program

Class of Stock [Line Items]

Maximum aggregate sales price of shares to be issued under open market sale agreement

$ 100,000

Number of shares sold (in shares) | shares

300,000

Net proceeds from sale of shares

$ 7,100

Open market dale agreement, value of remaining capacity

$ 92,800

Operating Partnership

Class of Stock [Line Items]

Company ownership percentage of voting securities

98.60%

98.60%

Number of units issued in acquisition (in shares) | shares

23,396

742,937

Number of units redeemed in acquisition (in shares) | shares

263,300

Detroit, Michigan

Class of Stock [Line Items]

Aggregate Square Footage | ft²

218,703

Number of properties in portfolio | property

2

Aggregate Purchase Price

$ 21,700

Indianapolis, Indiana

Class of Stock [Line Items]

Aggregate Square Footage | ft²

64,800

231,509

34,800

Aggregate Purchase Price

$ 5,300

$ 8,200

$ 3,600

Subsequent Events - Monthly Dis

Subsequent Events - Monthly Distributions Declared by Company's Board of Directors (Detail) - $ / shares

Apr. 05, 2021

Mar. 31, 2021

Mar. 24, 2021

Mar. 18, 2021

Mar. 05, 2021

Feb. 26, 2021

Feb. 24, 2021

Feb. 17, 2021

Feb. 05, 2021

Jan. 29, 2021

Jan. 27, 2021

Jan. 22, 2021

Mar. 31, 2021

Feb. 28, 2021

Jan. 31, 2021

Jan. 12, 2021

Subsequent Event | Series D Preferred Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

$ 0.4374999

Subsequent Event | Series E Preferred Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

0.414063

Subsequent Event | Series F Preferred Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

0.375

Subsequent Event | Senior Common Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

0.2625

Subsequent Event | Common Stock and Non-controlling OP Units

Dividends Payable [Line Items]

Distributions (in dollars per share)

$ 0.37545

Subsequent Event | Dividend Declared for Month of January

Dividends Payable [Line Items]

Record date

Jan. 22, 2021

Payment date

Jan. 29, 2021

Subsequent Event | Dividend Declared for Month of January | Series D Preferred Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

$ 0.1458333

Subsequent Event | Dividend Declared for Month of January | Series E Preferred Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

0.138021

Subsequent Event | Dividend Declared for Month of January | Series F Preferred Stock

Dividends Payable [Line Items]

Payment date

Feb. 5, 2021

Month in which distribution is payable to holders of record

January 27, 2021

Distributions (in dollars per share)

$ 0.125

Subsequent Event | Dividend Declared for Month of January | Senior Common Stock

Dividends Payable [Line Items]

Payment date

Feb. 5, 2021

Month in which distribution is payable to holders of record

January

Distributions (in dollars per share)

$ 0.0875

Subsequent Event | Dividend Declared for Month of January | Common Stock and Non-controlling OP Units

Dividends Payable [Line Items]

Distributions (in dollars per share)

$ 0.12515

Scenario, Forecast | Dividend Declared for Month of February

Dividends Payable [Line Items]

Record date

Feb. 17, 2021

Payment date

Feb. 26, 2021

Scenario, Forecast | Dividend Declared for Month of February | Series D Preferred Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

$ 0.1458333

Scenario, Forecast | Dividend Declared for Month of February | Series E Preferred Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

0.138021

Scenario, Forecast | Dividend Declared for Month of February | Series F Preferred Stock

Dividends Payable [Line Items]

Payment date

Mar. 5, 2021

Month in which distribution is payable to holders of record

February 24, 2021

Distributions (in dollars per share)

$ 0.125

Scenario, Forecast | Dividend Declared for Month of February | Senior Common Stock

Dividends Payable [Line Items]

Payment date

Mar. 5, 2021

Month in which distribution is payable to holders of record

February

Distributions (in dollars per share)

$ 0.0875

Scenario, Forecast | Dividend Declared for Month of February | Common Stock and Non-controlling OP Units

Dividends Payable [Line Items]

Distributions (in dollars per share)

$ 0.12515

Scenario, Forecast | Dividend Declared for Month of March

Dividends Payable [Line Items]

Record date

Mar. 18, 2021

Payment date

Mar. 31, 2021

Scenario, Forecast | Dividend Declared for Month of March | Series D Preferred Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

$ 0.1458333

$ 0.1458333

Scenario, Forecast | Dividend Declared for Month of March | Series E Preferred Stock

Dividends Payable [Line Items]

Distributions (in dollars per share)

0.138021

$ 0.138021

Scenario, Forecast | Dividend Declared for Month of March | Series F Preferred Stock

Dividends Payable [Line Items]

Payment date

Apr. 5, 2021

Month in which distribution is payable to holders of record

March 24, 2021

Distributions (in dollars per share)

$ 0.125

Scenario, Forecast | Dividend Declared for Month of March | Senior Common Stock

Dividends Payable [Line Items]

Payment date

Apr. 5, 2021

Month in which distribution is payable to holders of record

March

Distributions (in dollars per share)

$ 0.0875

Scenario, Forecast | Dividend Declared for Month of March | Common Stock and Non-controlling OP Units

Dividends Payable [Line Items]

Distributions (in dollars per share)

$ 0.12515

$ 0.12515

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	Feb. 11, 2021USD ($)	Jan. 22, 2021USD ($)ft²tenant	Feb. 16, 2021USD ($)shares	Dec. 31, 2020USD ($)shares	Jul. 02, 2019USD ($)	Jul. 01, 2019USD ($)	Oct. 27, 2017USD ($)	Oct. 26, 2017USD ($)	Oct. 31, 2015USD ($)
Subsequent Event [Line Items]
Rent obligations deferred, percentage				2.00%
Line of credit facility, maximum borrowing capacity					$ 160,000,000	$ 75,000,000	$ 75,000,000	$ 25,000,000
Line of credit
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity									$ 85,000,000
Subsequent Event | New Term Loan Facility
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 65,000,000
Line of credit facility, delayed funding component	$ 15,000,000
Subsequent Event | New Term Loan Facility | LIBOR
Subsequent Event [Line Items]
Floor on LIBOR (as percent)	0.25%
Subsequent Event | New Term Loan Facility | Line of credit
Subsequent Event [Line Items]
Debt instrument term	60 months
Subsequent Event | Property Maturing February 15, 2031 | New fixed rate mortgage notes payable
Subsequent Event [Line Items]
Debt issued		$ 5,500,000
Stated interest rate (as a percent)		3.24%
Subsequent Event | Findlay, Ohio
Subsequent Event [Line Items]
Aggregate Square Footage | ft²		180,152
Payments to acquire real estate		$ 11,100,000
Number of tenants | tenant		1
Lease term		14 years 2 months 12 days
Common Stock | Subsequent Event
Subsequent Event [Line Items]
Net proceeds from sale of shares			$ 6,800,000
Number of shares sold (in shares) | shares			400,000
Preferred Stock | Series F Preferred Stock
Subsequent Event [Line Items]
Net proceeds from sale of shares				$ 2,700,000
Number of shares sold (in shares) | shares				100,000
Preferred Stock | Series F Preferred Stock | Subsequent Event
Subsequent Event [Line Items]
Net proceeds from sale of shares			$ 30,000
Number of shares sold (in shares) | shares			1,200

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 459,838
Land, initial cost	142,993
Buildings & improvements, initial cost	925,501
Improvement costs capitalized subsequent to acquisition	71,711
Land, total cost	144,269
Buildings & improvements, total cost	995,936
Total	1,140,205	$ 1,064,389	$ 949,822	$ 906,850
Accumulated depreciation	231,876	$ 210,944	$ 178,475	$ 153,387
Net real estate	$ 908,329
Year construction/improvements one	2018
Raleigh, North Carolina Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	960
Buildings & improvements, initial cost	4,481
Improvement costs capitalized subsequent to acquisition	1,039
Land, total cost	960
Buildings & improvements, total cost	5,520
Total	6,480
Accumulated depreciation	2,409
Net real estate	$ 4,071
Year construction/ improvements	1997
Date acquired	Dec. 23, 2003
Canton, Ohio Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	186
Buildings & improvements, initial cost	3,083
Improvement costs capitalized subsequent to acquisition	500
Land, total cost	187
Buildings & improvements, total cost	3,582
Total	3,769
Accumulated depreciation	1,658
Net real estate	$ 2,111
Year construction/ improvements	1994
Date acquired	Jan. 30, 2004
Akron, Ohio Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,973
Buildings & improvements, initial cost	6,771
Improvement costs capitalized subsequent to acquisition	3,107
Land, total cost	1,974
Buildings & improvements, total cost	9,877
Total	11,851
Accumulated depreciation	3,653
Net real estate	$ 8,198
Year construction/ improvements	1968
Year construction/improvements one	1999
Date acquired	Apr. 29, 2004
Canton, North Carolina Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,123
Land, initial cost	150
Buildings & improvements, initial cost	5,050
Improvement costs capitalized subsequent to acquisition	7,285
Land, total cost	150
Buildings & improvements, total cost	12,335
Total	12,485
Accumulated depreciation	3,298
Net real estate	$ 9,187
Year construction/ improvements	1998
Year construction/improvements one	2014
Date acquired	Jul. 6, 2004
Crenshaw, Pennsylvania Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	100
Buildings & improvements, initial cost	6,574
Improvement costs capitalized subsequent to acquisition	269
Land, total cost	100
Buildings & improvements, total cost	6,843
Total	6,943
Accumulated depreciation	2,903
Net real estate	$ 4,040
Year construction/ improvements	1991
Date acquired	Aug. 5, 2004
Lexington, North Carolina Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	820
Buildings & improvements, initial cost	2,107
Improvement costs capitalized subsequent to acquisition	69
Land, total cost	820
Buildings & improvements, total cost	2,176
Total	2,996
Accumulated depreciation	954
Net real estate	$ 2,042
Year construction/ improvements	1986
Date acquired	Aug. 5, 2004
Mt. Pocono, Pennsylvania Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	350
Buildings & improvements, initial cost	5,819
Improvement costs capitalized subsequent to acquisition	18
Land, total cost	350
Buildings & improvements, total cost	5,837
Total	6,187
Accumulated depreciation	2,463
Net real estate	$ 3,724
Year construction/ improvements	1995
Year construction/improvements one	1999
Date acquired	Oct. 15, 2004
San Antonio, Texas Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	843
Buildings & improvements, initial cost	7,514
Improvement costs capitalized subsequent to acquisition	2,240
Land, total cost	843
Buildings & improvements, total cost	9,754
Total	10,597
Accumulated depreciation	3,964
Net real estate	$ 6,633
Year construction/ improvements	1999
Date acquired	Feb. 10, 2005
Big Flats, New York Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,049
Land, initial cost	275
Buildings & improvements, initial cost	6,459
Improvement costs capitalized subsequent to acquisition	515
Land, total cost	275
Buildings & improvements, total cost	6,974
Total	7,249
Accumulated depreciation	2,632
Net real estate	$ 4,617
Year construction/ improvements	2001
Date acquired	Apr. 15, 2005
Wichita, Kansas Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,525
Buildings & improvements, initial cost	9,703
Improvement costs capitalized subsequent to acquisition	327
Land, total cost	1,525
Buildings & improvements, total cost	10,030
Total	11,555
Accumulated depreciation	4,138
Net real estate	$ 7,417
Year construction/ improvements	2000
Date acquired	May 18, 2005
Eatontown, New Jersey Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,574
Land, initial cost	1,351
Buildings & improvements, initial cost	3,520
Improvement costs capitalized subsequent to acquisition	534
Land, total cost	1,351
Buildings & improvements, total cost	4,054
Total	5,405
Accumulated depreciation	1,700
Net real estate	$ 3,705
Year construction/ improvements	1991
Date acquired	Jul. 7, 2005
Duncan, South Carolina Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	783
Buildings & improvements, initial cost	10,790
Improvement costs capitalized subsequent to acquisition	1,889
Land, total cost	783
Buildings & improvements, total cost	12,679
Total	13,462
Accumulated depreciation	4,919
Net real estate	$ 8,543
Year construction/ improvements	1984
Year construction/improvements one	2001
Year construction/improvements two	2007
Date acquired	Jul. 14, 2005
Duncan, South Carolina Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	195
Buildings & improvements, initial cost	2,682
Improvement costs capitalized subsequent to acquisition	470
Land, total cost	195
Buildings & improvements, total cost	3,152
Total	3,347
Accumulated depreciation	1,223
Net real estate	$ 2,124
Year construction/ improvements	1984
Year construction/improvements one	2001
Year construction/improvements two	2007
Date acquired	Jul. 14, 2005
Clintonville, Wisconsin Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	55
Buildings & improvements, initial cost	4,717
Improvement costs capitalized subsequent to acquisition	3,250
Land, total cost	55
Buildings & improvements, total cost	7,967
Total	8,022
Accumulated depreciation	2,665
Net real estate	$ 5,357
Year construction/ improvements	1992
Year construction/improvements one	2013
Date acquired	Oct. 31, 2005
Richmond, Virginia Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	736
Buildings & improvements, initial cost	5,336
Improvement costs capitalized subsequent to acquisition	486
Land, total cost	736
Buildings & improvements, total cost	5,822
Total	6,558
Accumulated depreciation	2,207
Net real estate	$ 4,351
Year construction/ improvements	1972
Date acquired	Dec. 30, 2005
Champaign, Illinois Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	687
Buildings & improvements, initial cost	2,036
Improvement costs capitalized subsequent to acquisition	(1,057)
Land, total cost	326
Buildings & improvements, total cost	1,340
Total	1,666
Accumulated depreciation	754
Net real estate	$ 912
Year construction/ improvements	1996
Date acquired	Feb. 21, 2006
Burnsville, Minnesota Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 7,764
Land, initial cost	3,511
Buildings & improvements, initial cost	8,746
Improvement costs capitalized subsequent to acquisition	7,329
Land, total cost	3,511
Buildings & improvements, total cost	16,075
Total	19,586
Accumulated depreciation	6,654
Net real estate	$ 12,932
Year construction/ improvements	1984
Date acquired	May 10, 2006
Menomonee Falls, Wisconsin Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	625
Buildings & improvements, initial cost	6,911
Improvement costs capitalized subsequent to acquisition	686
Land, total cost	625
Buildings & improvements, total cost	7,597
Total	8,222
Accumulated depreciation	2,914
Net real estate	$ 5,308
Year construction/ improvements	1986
Year construction/improvements one	2000
Date acquired	Jun. 30, 2006
Baytown, Texas Medical Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	221
Buildings & improvements, initial cost	2,443
Improvement costs capitalized subsequent to acquisition	2,478
Land, total cost	221
Buildings & improvements, total cost	4,921
Total	5,142
Accumulated depreciation	1,931
Net real estate	$ 3,211
Year construction/ improvements	1997
Date acquired	Jul. 11, 2006
Mason, Ohio Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,560
Land, initial cost	797
Buildings & improvements, initial cost	6,258
Improvement costs capitalized subsequent to acquisition	725
Land, total cost	797
Buildings & improvements, total cost	6,983
Total	7,780
Accumulated depreciation	2,792
Net real estate	$ 4,988
Year construction/ improvements	2002
Date acquired	Jan. 5, 2007
Raleigh, North Carolina Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,606
Buildings & improvements, initial cost	5,513
Improvement costs capitalized subsequent to acquisition	4,148
Land, total cost	1,606
Buildings & improvements, total cost	9,661
Total	11,267
Accumulated depreciation	3,576
Net real estate	$ 7,691
Year construction/ improvements	1994
Date acquired	Feb. 16, 2007
Tulsa, Oklahoma Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	0
Buildings & improvements, initial cost	14,057
Improvement costs capitalized subsequent to acquisition	548
Land, total cost	0
Buildings & improvements, total cost	14,605
Total	14,605
Accumulated depreciation	5,872
Net real estate	$ 8,733
Year construction/ improvements	2004
Date acquired	Mar. 1, 2007
Hialeah, Florida Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	3,562
Buildings & improvements, initial cost	6,672
Improvement costs capitalized subsequent to acquisition	769
Land, total cost	3,562
Buildings & improvements, total cost	7,441
Total	11,003
Accumulated depreciation	2,697
Net real estate	$ 8,306
Year construction/ improvements	1956
Year construction/improvements one	1992
Date acquired	Mar. 9, 2007
Mason, Ohio Retail Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,201
Buildings & improvements, initial cost	4,961
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,201
Buildings & improvements, total cost	4,961
Total	6,162
Accumulated depreciation	1,749
Net real estate	$ 4,413
Year construction/ improvements	2007
Date acquired	Jul. 1, 2007
Cicero, New York Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	299
Buildings & improvements, initial cost	5,019
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	299
Buildings & improvements, total cost	5,019
Total	5,318
Accumulated depreciation	1,714
Net real estate	$ 3,604
Year construction/ improvements	2005
Date acquired	Sep. 6, 2007
Grand Rapids, Michigan Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 4,886
Land, initial cost	1,629
Buildings & improvements, initial cost	10,500
Improvement costs capitalized subsequent to acquisition	308
Land, total cost	1,629
Buildings & improvements, total cost	10,808
Total	12,437
Accumulated depreciation	3,819
Net real estate	$ 8,618
Year construction/ improvements	2001
Date acquired	Sep. 28, 2007
Bollingbrook, Illinois Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,272
Buildings & improvements, initial cost	5,003
Improvement costs capitalized subsequent to acquisition	991
Land, total cost	1,272
Buildings & improvements, total cost	5,994
Total	7,266
Accumulated depreciation	2,287
Net real estate	$ 4,979
Year construction/ improvements	2002
Date acquired	Sep. 28, 2007
Decatur, Georgia Medical Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	783
Buildings & improvements, initial cost	3,241
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	783
Buildings & improvements, total cost	3,241
Total	4,024
Accumulated depreciation	1,140
Net real estate	$ 2,884
Year construction/ improvements	1989
Date acquired	Dec. 13, 2007
Decatur, Georgia Medical Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	205
Buildings & improvements, initial cost	847
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	205
Buildings & improvements, total cost	847
Total	1,052
Accumulated depreciation	298
Net real estate	$ 754
Year construction/ improvements	1989
Date acquired	Dec. 13, 2007
Decatur, Georgia Medical Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	257
Buildings & improvements, initial cost	1,062
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	257
Buildings & improvements, total cost	1,062
Total	1,319
Accumulated depreciation	374
Net real estate	$ 945
Year construction/ improvements	1989
Date acquired	Dec. 13, 2007
Lawrenceville, Georgia Medical Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	678
Buildings & improvements, initial cost	2,807
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	678
Buildings & improvements, total cost	2,807
Total	3,485
Accumulated depreciation	988
Net real estate	$ 2,497
Year construction/ improvements	2005
Date acquired	Dec. 13, 2007
Snellville, Georgia Medical Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	176
Buildings & improvements, initial cost	727
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	176
Buildings & improvements, total cost	727
Total	903
Accumulated depreciation	256
Net real estate	$ 647
Year construction/ improvements	1986
Date acquired	Dec. 13, 2007
Covington, Georgia Medical Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	232
Buildings & improvements, initial cost	959
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	232
Buildings & improvements, total cost	959
Total	1,191
Accumulated depreciation	338
Net real estate	$ 853
Year construction/ improvements	2000
Date acquired	Dec. 13, 2007
Conyers Georgia Office Building [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	296
Buildings & improvements, initial cost	1,228
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	296
Buildings & improvements, total cost	1,228
Total	1,524
Accumulated depreciation	432
Net real estate	$ 1,092
Year construction/ improvements	1994
Date acquired	Dec. 13, 2007
Cumming, Georgia Medical Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,634
Land, initial cost	738
Buildings & improvements, initial cost	3,055
Improvement costs capitalized subsequent to acquisition	2,524
Land, total cost	741
Buildings & improvements, total cost	5,576
Total	6,317
Accumulated depreciation	1,621
Net real estate	$ 4,696
Year construction/ improvements	2004
Date acquired	Dec. 13, 2007
Reading, Pennsylvania Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,337
Land, initial cost	491
Buildings & improvements, initial cost	6,202
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	491
Buildings & improvements, total cost	6,202
Total	6,693
Accumulated depreciation	2,062
Net real estate	$ 4,631
Year construction/ improvements	2007
Date acquired	Jan. 29, 2008
Fridley, Minnesota Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 4,380
Land, initial cost	1,354
Buildings & improvements, initial cost	8,074
Improvement costs capitalized subsequent to acquisition	1,768
Land, total cost	1,383
Buildings & improvements, total cost	9,813
Total	11,196
Accumulated depreciation	3,390
Net real estate	$ 7,806
Year construction/ improvements	1985
Year construction/improvements one	2006
Date acquired	Feb. 26, 2008
Pineville, North Carolina Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 1,940
Land, initial cost	669
Buildings & improvements, initial cost	3,028
Improvement costs capitalized subsequent to acquisition	293
Land, total cost	669
Buildings & improvements, total cost	3,321
Total	3,990
Accumulated depreciation	1,097
Net real estate	$ 2,893
Year construction/ improvements	1985
Date acquired	Apr. 30, 2008
Marietta, Ohio Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 4,734
Land, initial cost	829
Buildings & improvements, initial cost	6,607
Improvement costs capitalized subsequent to acquisition	529
Land, total cost	829
Buildings & improvements, total cost	7,136
Total	7,965
Accumulated depreciation	2,265
Net real estate	$ 5,700
Year construction/ improvements	1992
Year construction/improvements one	2007
Date acquired	Aug. 29, 2008
Chalfont, Pennsylvania Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 4,275
Land, initial cost	1,249
Buildings & improvements, initial cost	6,420
Improvement costs capitalized subsequent to acquisition	854
Land, total cost	1,249
Buildings & improvements, total cost	7,274
Total	8,523
Accumulated depreciation	2,365
Net real estate	$ 6,158
Year construction/ improvements	1987
Date acquired	Aug. 29, 2008
Orange City, Iowa Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 5,353
Land, initial cost	258
Buildings & improvements, initial cost	5,861
Improvement costs capitalized subsequent to acquisition	6
Land, total cost	258
Buildings & improvements, total cost	5,867
Total	6,125
Accumulated depreciation	1,843
Net real estate	$ 4,282
Year construction/ improvements	1990
Date acquired	Dec. 15, 2010
Hickory, North Carolina Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 5,728
Land, initial cost	1,163
Buildings & improvements, initial cost	6,605
Improvement costs capitalized subsequent to acquisition	357
Land, total cost	1,163
Buildings & improvements, total cost	6,962
Total	8,125
Accumulated depreciation	2,911
Net real estate	$ 5,214
Year construction/ improvements	2008
Date acquired	Apr. 4, 2011
Springfield, Missouri Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,700
Buildings & improvements, initial cost	12,038
Improvement costs capitalized subsequent to acquisition	924
Land, total cost	1,845
Buildings & improvements, total cost	12,817
Total	14,662
Accumulated depreciation	3,600
Net real estate	$ 11,062
Year construction/ improvements	2006
Date acquired	Jun. 20, 2011
Boston Heights, Ohio Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,263
Land, initial cost	449
Buildings & improvements, initial cost	3,010
Improvement costs capitalized subsequent to acquisition	10
Land, total cost	449
Buildings & improvements, total cost	3,020
Total	3,469
Accumulated depreciation	1,145
Net real estate	$ 2,324
Year construction/ improvements	2011
Date acquired	Oct. 20, 2011
Parsippany, New Jersey Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,696
Buildings & improvements, initial cost	7,077
Improvement costs capitalized subsequent to acquisition	252
Land, total cost	1,696
Buildings & improvements, total cost	7,329
Total	9,025
Accumulated depreciation	2,454
Net real estate	$ 6,571
Year construction/ improvements	1984
Date acquired	Oct. 28, 2011
Dartmouth, Massachusetts Retail Location
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,304
Land, initial cost	0
Buildings & improvements, initial cost	4,236
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	0
Buildings & improvements, total cost	4,236
Total	4,236
Accumulated depreciation	1,078
Net real estate	$ 3,158
Year construction/ improvements	2011
Date acquired	Nov. 18, 2011
Springfield, Missouri Retail Location
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 1,222
Land, initial cost	0
Buildings & improvements, initial cost	2,275
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	0
Buildings & improvements, total cost	2,275
Total	2,275
Accumulated depreciation	742
Net real estate	$ 1,533
Year construction/ improvements	2005
Date acquired	Dec. 13, 2011
Pittsburgh, Pennsylvania Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,326
Land, initial cost	281
Buildings & improvements, initial cost	3,205
Improvement costs capitalized subsequent to acquisition	743
Land, total cost	281
Buildings & improvements, total cost	3,948
Total	4,229
Accumulated depreciation	1,271
Net real estate	$ 2,958
Year construction/ improvements	1968
Date acquired	Dec. 28, 2011
Ashburn, Virginia Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 6,052
Land, initial cost	706
Buildings & improvements, initial cost	7,858
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	705
Buildings & improvements, total cost	7,859
Total	8,564
Accumulated depreciation	2,314
Net real estate	$ 6,250
Year construction/ improvements	2002
Date acquired	Jan. 25, 2012
Ottumwa, Iowa Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,708
Land, initial cost	212
Buildings & improvements, initial cost	5,072
Improvement costs capitalized subsequent to acquisition	310
Land, total cost	212
Buildings & improvements, total cost	5,382
Total	5,594
Accumulated depreciation	1,515
Net real estate	$ 4,079
Year construction/ improvements	1970
Date acquired	May 30, 2012
New Albany, Ohio Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 6,908
Land, initial cost	1,658
Buildings & improvements, initial cost	8,746
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,658
Buildings & improvements, total cost	8,746
Total	10,404
Accumulated depreciation	2,760
Net real estate	$ 7,644
Year construction/ improvements	2007
Date acquired	Jun. 5, 2012
Columbus, Georgia Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,779
Land, initial cost	1,378
Buildings & improvements, initial cost	4,520
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,378
Buildings & improvements, total cost	4,520
Total	5,898
Accumulated depreciation	1,592
Net real estate	$ 4,306
Year construction/ improvements	2012
Date acquired	Jun. 21, 2012
Columbus, Ohio Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	542
Buildings & improvements, initial cost	2,453
Improvement costs capitalized subsequent to acquisition	134
Land, total cost	542
Buildings & improvements, total cost	2,587
Total	3,129
Accumulated depreciation	993
Net real estate	$ 2,136
Year construction/ improvements	1981
Date acquired	Jun. 28, 2012
Jupiter, Florida Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,160
Buildings & improvements, initial cost	11,994
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,160
Buildings & improvements, total cost	11,994
Total	13,154
Accumulated depreciation	3,026
Net real estate	$ 10,128
Year construction/ improvements	2011
Date acquired	Sep. 26, 2012
Fort Worth, Texas Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 10,321
Land, initial cost	963
Buildings & improvements, initial cost	15,647
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	963
Buildings & improvements, total cost	15,647
Total	16,610
Accumulated depreciation	3,881
Net real estate	$ 12,729
Year construction/ improvements	2005
Date acquired	Nov. 8, 2012
Columbia, South Carolina Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 14,890
Land, initial cost	1,905
Buildings & improvements, initial cost	20,648
Improvement costs capitalized subsequent to acquisition	438
Land, total cost	1,905
Buildings & improvements, total cost	21,086
Total	22,991
Accumulated depreciation	7,224
Net real estate	$ 15,767
Year construction/ improvements	2010
Date acquired	Nov. 21, 2012
Egg Harbor, New Jersey Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,949
Land, initial cost	1,627
Buildings & improvements, initial cost	3,017
Improvement costs capitalized subsequent to acquisition	315
Land, total cost	1,627
Buildings & improvements, total cost	3,332
Total	4,959
Accumulated depreciation	964
Net real estate	$ 3,995
Year construction/ improvements	1985
Date acquired	Mar. 28, 2013
Vance, Alabama Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	457
Buildings & improvements, initial cost	10,529
Improvement costs capitalized subsequent to acquisition	6,692
Land, total cost	457
Buildings & improvements, total cost	17,221
Total	17,678
Accumulated depreciation	3,440
Net real estate	$ 14,238
Year construction/ improvements	2013
Date acquired	May 9, 2013
Blaine, Minnesota Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 7,193
Land, initial cost	1,060
Buildings & improvements, initial cost	10,518
Improvement costs capitalized subsequent to acquisition	(1,702)
Land, total cost	842
Buildings & improvements, total cost	9,034
Total	9,876
Accumulated depreciation	3,327
Net real estate	$ 6,549
Year construction/ improvements	2009
Date acquired	May 10, 2013
Austin, Texas Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 30,827
Land, initial cost	2,330
Buildings & improvements, initial cost	44,021
Improvement costs capitalized subsequent to acquisition	134
Land, total cost	2,330
Buildings & improvements, total cost	44,155
Total	46,485
Accumulated depreciation	16,922
Net real estate	$ 29,563
Year construction/ improvements	1999
Date acquired	Jul. 9, 2013
Allen, Texas Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 7,620
Land, initial cost	2,699
Buildings & improvements, initial cost	7,945
Improvement costs capitalized subsequent to acquisition	1,467
Land, total cost	2,699
Buildings & improvements, total cost	9,412
Total	12,111
Accumulated depreciation	3,357
Net real estate	$ 8,754
Year construction/ improvements	1998
Date acquired	Jul. 10, 2013
Englewood, Colorado Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,503
Buildings & improvements, initial cost	11,739
Improvement costs capitalized subsequent to acquisition	208
Land, total cost	1,503
Buildings & improvements, total cost	11,947
Total	13,450
Accumulated depreciation	3,652
Net real estate	$ 9,798
Year construction/ improvements	2008
Date acquired	Dec. 11, 2013
Novi, Michigan Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,701
Land, initial cost	352
Buildings & improvements, initial cost	5,626
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	352
Buildings & improvements, total cost	5,626
Total	5,978
Accumulated depreciation	1,365
Net real estate	$ 4,613
Year construction/ improvements	1988
Date acquired	Dec. 27, 2013
Allen, Texas Retail Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,728
Land, initial cost	874
Buildings & improvements, initial cost	3,634
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	874
Buildings & improvements, total cost	3,634
Total	4,508
Accumulated depreciation	849
Net real estate	$ 3,659
Year construction/ improvements	2004
Date acquired	Mar. 27, 2014
Colleyville, Texas Retail Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,518
Land, initial cost	1,277
Buildings & improvements, initial cost	2,424
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,277
Buildings & improvements, total cost	2,424
Total	3,701
Accumulated depreciation	591
Net real estate	$ 3,110
Year construction/ improvements	2000
Date acquired	Mar. 27, 2014
Rancho Cordova, California Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 4,486
Land, initial cost	752
Buildings & improvements, initial cost	6,176
Improvement costs capitalized subsequent to acquisition	(541)
Land, total cost	641
Buildings & improvements, total cost	5,746
Total	6,387
Accumulated depreciation	1,509
Net real estate	$ 4,878
Year construction/ improvements	1986
Date acquired	Apr. 22, 2014
Coppell, Texas Retail Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,900
Land, initial cost	1,448
Buildings & improvements, initial cost	3,349
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,448
Buildings & improvements, total cost	3,349
Total	4,797
Accumulated depreciation	765
Net real estate	$ 4,032
Year construction/ improvements	2005
Date acquired	May 8, 2014
Columbus, Ohio (3) Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	990
Buildings & improvements, initial cost	8,017
Improvement costs capitalized subsequent to acquisition	2,860
Land, total cost	990
Buildings & improvements, total cost	10,877
Total	11,867
Accumulated depreciation	3,058
Net real estate	$ 8,809
Year construction/ improvements	1986
Date acquired	May 13, 2014
Taylor, Pennsylvania Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 21,600
Land, initial cost	3,101
Buildings & improvements, initial cost	25,405
Improvement costs capitalized subsequent to acquisition	1,248
Land, total cost	3,101
Buildings & improvements, total cost	26,653
Total	29,754
Accumulated depreciation	5,283
Net real estate	$ 24,471
Year construction/ improvements	2000
Year construction/improvements one	2006
Date acquired	Jun. 9, 2014
Aurora, Colorado Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	2,882
Buildings & improvements, initial cost	3,917
Improvement costs capitalized subsequent to acquisition	96
Land, total cost	2,882
Buildings & improvements, total cost	4,013
Total	6,895
Accumulated depreciation	1,028
Net real estate	$ 5,867
Year construction/ improvements	1983
Date acquired	Jul. 1, 2014
Indianapolis, Indiana Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 5,455
Land, initial cost	502
Buildings & improvements, initial cost	6,422
Improvement costs capitalized subsequent to acquisition	1,859
Land, total cost	498
Buildings & improvements, total cost	8,285
Total	8,783
Accumulated depreciation	2,152
Net real estate	$ 6,631
Year construction/ improvements	1981
Year construction/improvements one	2014
Date acquired	Sep. 3, 2014
Denver, Colorado Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,621
Buildings & improvements, initial cost	7,071
Improvement costs capitalized subsequent to acquisition	243
Land, total cost	1,621
Buildings & improvements, total cost	7,314
Total	8,935
Accumulated depreciation	1,646
Net real estate	$ 7,289
Year construction/ improvements	1985
Date acquired	Oct. 31, 2014
Monroe, Michigan Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 9,632
Land, initial cost	658
Buildings & improvements, initial cost	14,607
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	657
Buildings & improvements, total cost	14,608
Total	15,265
Accumulated depreciation	2,761
Net real estate	$ 12,504
Year construction/ improvements	2004
Date acquired	Dec. 23, 2014
Monroe, Michigan Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 6,742
Land, initial cost	460
Buildings & improvements, initial cost	10,225
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	460
Buildings & improvements, total cost	10,225
Total	10,685
Accumulated depreciation	1,933
Net real estate	$ 8,752
Year construction/ improvements	2004
Date acquired	Dec. 23, 2014
Richardson, Texas Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 12,991
Land, initial cost	2,728
Buildings & improvements, initial cost	15,372
Improvement costs capitalized subsequent to acquisition	1,135
Land, total cost	2,728
Buildings & improvements, total cost	16,507
Total	19,235
Accumulated depreciation	4,086
Net real estate	$ 15,149
Year construction/ improvements	1985
Year construction/improvements one	2008
Date acquired	Mar. 6, 2015
Birmingham, Alabama Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	650
Buildings & improvements, initial cost	2,034
Improvement costs capitalized subsequent to acquisition	60
Land, total cost	650
Buildings & improvements, total cost	2,094
Total	2,744
Accumulated depreciation	567
Net real estate	$ 2,177
Year construction/ improvements	1982
Year construction/improvements one	2010
Date acquired	Mar. 20, 2015
Dublin, Ohio Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,800
Land, initial cost	1,338
Buildings & improvements, initial cost	5,058
Improvement costs capitalized subsequent to acquisition	1,086
Land, total cost	1,338
Buildings & improvements, total cost	6,144
Total	7,482
Accumulated depreciation	1,374
Net real estate	$ 6,108
Year construction/ improvements	1980
Date acquired	May 28, 2015
Draper, Utah Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 11,930
Land, initial cost	3,248
Buildings & improvements, initial cost	13,129
Improvement costs capitalized subsequent to acquisition	74
Land, total cost	3,248
Buildings & improvements, total cost	13,203
Total	16,451
Accumulated depreciation	2,998
Net real estate	$ 13,453
Year construction/ improvements	2008
Date acquired	May 29, 2015
Hapeville, Georgia Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 6,845
Land, initial cost	2,272
Buildings & improvements, initial cost	8,778
Improvement costs capitalized subsequent to acquisition	263
Land, total cost	2,272
Buildings & improvements, total cost	9,041
Total	11,313
Accumulated depreciation	1,801
Net real estate	$ 9,512
Year construction/ improvements	1999
Year construction/improvements one	2007
Date acquired	Jul. 15, 2015
Villa Rica, Georgia Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,477
Land, initial cost	293
Buildings & improvements, initial cost	5,277
Improvement costs capitalized subsequent to acquisition	18
Land, total cost	293
Buildings & improvements, total cost	5,295
Total	5,588
Accumulated depreciation	1,030
Net real estate	$ 4,558
Year construction/ improvements	2000
Year construction/improvements one	2014
Date acquired	Oct. 20, 2015
Taylorsville, Utah Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 8,867
Land, initial cost	3,008
Buildings & improvements, initial cost	10,659
Improvement costs capitalized subsequent to acquisition	435
Land, total cost	3,008
Buildings & improvements, total cost	11,094
Total	14,102
Accumulated depreciation	2,703
Net real estate	$ 11,399
Year construction/ improvements	1997
Date acquired	May 26, 2016
Fort Lauderdale, Florida Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 12,625
Land, initial cost	4,117
Buildings & improvements, initial cost	15,516
Improvement costs capitalized subsequent to acquisition	3,378
Land, total cost	4,117
Buildings & improvements, total cost	18,894
Total	23,011
Accumulated depreciation	3,664
Net real estate	$ 19,347
Year construction/ improvements	1984
Date acquired	Sep. 12, 2016
King of Prussia, Pennsylvania Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 14,401
Land, initial cost	3,681
Buildings & improvements, initial cost	15,739
Improvement costs capitalized subsequent to acquisition	473
Land, total cost	3,681
Buildings & improvements, total cost	16,212
Total	19,893
Accumulated depreciation	2,918
Net real estate	$ 16,975
Year construction/ improvements	2001
Date acquired	Dec. 14, 2016
Conshohocken Pennsylvania Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 10,095
Land, initial cost	1,996
Buildings & improvements, initial cost	10,880
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,996
Buildings & improvements, total cost	10,880
Total	12,876
Accumulated depreciation	1,532
Net real estate	$ 11,344
Year construction/ improvements	1996
Date acquired	Jun. 22, 2017
Philadelphia Pennsylvania, Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 14,924
Land, initial cost	5,896
Buildings & improvements, initial cost	16,282
Improvement costs capitalized subsequent to acquisition	27
Land, total cost	5,906
Buildings & improvements, total cost	16,299
Total	22,205
Accumulated depreciation	2,669
Net real estate	$ 19,536
Year construction/ improvements	1994
Year construction/improvements one	2011
Date acquired	Jul. 7, 2017
Maitland Florida Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 15,356
Land, initial cost	3,073
Buildings & improvements, initial cost	19,661
Improvement costs capitalized subsequent to acquisition	431
Land, total cost	3,091
Buildings & improvements, total cost	20,074
Total	23,165
Accumulated depreciation	3,714
Net real estate	$ 19,451
Year construction/ improvements	1998
Date acquired	Jul. 31, 2017
Maitland Florida Office Building Three
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 7,699
Land, initial cost	2,095
Buildings & improvements, initial cost	9,339
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	2,095
Buildings & improvements, total cost	9,339
Total	11,434
Accumulated depreciation	1,328
Net real estate	$ 10,106
Year construction/ improvements	1999
Date acquired	Jul. 31, 2017
Columbus Ohio Office Building Two
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 8,939
Land, initial cost	1,926
Buildings & improvements, initial cost	11,410
Improvement costs capitalized subsequent to acquisition	(1)
Land, total cost	1,925
Buildings & improvements, total cost	11,410
Total	13,335
Accumulated depreciation	1,723
Net real estate	$ 11,612
Year construction/ improvements	2007
Date acquired	Dec. 1, 2017
Salt Lake City Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	4,446
Buildings & improvements, initial cost	9,938
Improvement costs capitalized subsequent to acquisition	771
Land, total cost	4,446
Buildings & improvements, total cost	10,709
Total	15,155
Accumulated depreciation	1,606
Net real estate	$ 13,549
Year construction/ improvements	2007
Date acquired	Dec. 1, 2017
Vance, Alabama Industrial Building Two
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	459
Buildings & improvements, initial cost	12,224
Improvement costs capitalized subsequent to acquisition	44
Land, total cost	469
Buildings & improvements, total cost	12,258
Total	12,727
Accumulated depreciation	1,260
Net real estate	$ 11,467
Year construction/ improvements	2018
Date acquired	Mar. 9, 2018
Columbus, Ohio Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 4,524
Land, initial cost	681
Buildings & improvements, initial cost	6,401
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	681
Buildings & improvements, total cost	6,401
Total	7,082
Accumulated depreciation	756
Net real estate	$ 6,326
Year construction/ improvements	1990
Date acquired	Sep. 20, 2018
Detroit, Michigan Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 6,389
Land, initial cost	1,458
Buildings & improvements, initial cost	10,092
Improvement costs capitalized subsequent to acquisition	10
Land, total cost	1,468
Buildings & improvements, total cost	10,092
Total	11,560
Accumulated depreciation	793
Net real estate	$ 10,767
Year construction/ improvements	1997
Date acquired	Oct. 30, 2018
Detroit, Michigan Industrial Building Two
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	662
Buildings & improvements, initial cost	6,681
Improvement costs capitalized subsequent to acquisition	10
Land, total cost	672
Buildings & improvements, total cost	6,681
Total	7,353
Accumulated depreciation	534
Net real estate	$ 6,819
Year construction/ improvements	2002
Year construction/improvements one	2016
Date acquired	Oct. 30, 2018
Lake Mary, Florida Office Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 10,316
Land, initial cost	3,018
Buildings & improvements, initial cost	11,756
Improvement costs capitalized subsequent to acquisition	87
Land, total cost	3,020
Buildings & improvements, total cost	11,841
Total	14,861
Accumulated depreciation	1,023
Net real estate	$ 13,838
Year construction/ improvements	1997
Year construction/improvements one	2018
Date acquired	Dec. 27, 2018
Moorestown, New Jersey Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	471
Buildings & improvements, initial cost	1,825
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	471
Buildings & improvements, total cost	1,825
Total	2,296
Accumulated depreciation	213
Net real estate	$ 2,083
Year construction/ improvements	1991
Date acquired	Feb. 8, 2019
Indianapolis, Indiana Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	255
Buildings & improvements, initial cost	2,809
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	255
Buildings & improvements, total cost	2,809
Total	3,064
Accumulated depreciation	203
Net real estate	$ 2,861
Year construction/ improvements	1989
Year construction/improvements one	2019
Date acquired	Feb. 28, 2019
Ocala, Florida Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,286
Buildings & improvements, initial cost	8,535
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,286
Buildings & improvements, total cost	8,535
Total	9,821
Accumulated depreciation	505
Net real estate	$ 9,316
Year construction/ improvements	2001
Date acquired	Apr. 5, 2019
Ocala, Florida Industrial Building Two
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	725
Buildings & improvements, initial cost	4,814
Improvement costs capitalized subsequent to acquisition	253
Land, total cost	725
Buildings & improvements, total cost	5,067
Total	5,792
Accumulated depreciation	285
Net real estate	$ 5,507
Year construction/ improvements	1965
Year construction/improvements one	2007
Date acquired	Apr. 5, 2019
Delaware, Ohio Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	316
Buildings & improvements, initial cost	2,355
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	316
Buildings & improvements, total cost	2,355
Total	2,671
Accumulated depreciation	165
Net real estate	$ 2,506
Year construction/ improvements	2005
Date acquired	Apr. 30, 2019
Tifton, Georgia Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 8,467
Land, initial cost	0
Buildings & improvements, initial cost	15,190
Improvement costs capitalized subsequent to acquisition	1,725
Land, total cost	1,725
Buildings & improvements, total cost	15,190
Total	16,915
Accumulated depreciation	785
Net real estate	$ 16,130
Year construction/ improvements	1995
Year construction/improvements one	2003
Date acquired	Jun. 18, 2019
Denton, Texas Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,497
Buildings & improvements, initial cost	4,151
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,496
Buildings & improvements, total cost	4,152
Total	5,648
Accumulated depreciation	262
Net real estate	$ 5,386
Year construction/ improvements	2012
Date acquired	Jul. 30, 2019
Temple, Texas Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	200
Buildings & improvements, initial cost	4,335
Improvement costs capitalized subsequent to acquisition	65
Land, total cost	200
Buildings & improvements, total cost	4,400
Total	4,600
Accumulated depreciation	225
Net real estate	$ 4,375
Year construction/ improvements	1973
Year construction/improvements one	2006
Date acquired	Sep. 26, 2019
Temple, Texas Industrial Building Two
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	296
Buildings & improvements, initial cost	6,425
Improvement costs capitalized subsequent to acquisition	99
Land, total cost	296
Buildings & improvements, total cost	6,524
Total	6,820
Accumulated depreciation	334
Net real estate	$ 6,486
Year construction/ improvements	1978
Year construction/improvements one	2006
Date acquired	Sep. 26, 2019
Indianapolis, Indiana Industrial Building Two
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	1,158
Buildings & improvements, initial cost	5,162
Improvement costs capitalized subsequent to acquisition	4
Land, total cost	1,162
Buildings & improvements, total cost	5,162
Total	6,324
Accumulated depreciation	354
Net real estate	$ 5,970
Year construction/ improvements	1967
Year construction/improvements one	1998
Date acquired	Nov. 14, 2019
Jackson, Tennessee Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 4,656
Land, initial cost	311
Buildings & improvements, initial cost	7,199
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	311
Buildings & improvements, total cost	7,199
Total	7,510
Accumulated depreciation	250
Net real estate	$ 7,260
Year construction/ improvements	2019
Date acquired	Dec. 16, 2019
Carrollton, Georgia Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 4,138
Land, initial cost	291
Buildings & improvements, initial cost	6,720
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	292
Buildings & improvements, total cost	6,719
Total	7,011
Accumulated depreciation	225
Net real estate	$ 6,786
Year construction/ improvements	2015
Year construction/improvements one	2019
Date acquired	Dec. 17, 2019
New Orleans, Louisiana Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,706
Land, initial cost	2,168
Buildings & improvements, initial cost	4,667
Improvement costs capitalized subsequent to acquisition	(2)
Land, total cost	2,166
Buildings & improvements, total cost	4,667
Total	6,833
Accumulated depreciation	256
Net real estate	$ 6,577
Year construction/ improvements	1975
Date acquired	Dec. 17, 2019
San Antonio, Texas Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,804
Land, initial cost	775
Buildings & improvements, initial cost	6,877
Improvement costs capitalized subsequent to acquisition	(2)
Land, total cost	773
Buildings & improvements, total cost	6,877
Total	7,650
Accumulated depreciation	268
Net real estate	$ 7,382
Year construction/ improvements	1985
Date acquired	Dec. 17, 2019
Port Allen, Louisiana Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,819
Land, initial cost	292
Buildings & improvements, initial cost	3,411
Improvement costs capitalized subsequent to acquisition	(2)
Land, total cost	291
Buildings & improvements, total cost	3,410
Total	3,701
Accumulated depreciation	168
Net real estate	$ 3,533
Year construction/ improvements	1983
Year construction/improvements one	2005
Date acquired	Dec. 17, 2019
Albuquerque, New Mexico Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 1,824
Land, initial cost	673
Buildings & improvements, initial cost	2,291
Improvement costs capitalized subsequent to acquisition	(3)
Land, total cost	671
Buildings & improvements, total cost	2,290
Total	2,961
Accumulated depreciation	93
Net real estate	$ 2,868
Year construction/ improvements	1998
Year construction/improvements one	2017
Date acquired	Dec. 17, 2019
Tucson, Arizona Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,414
Land, initial cost	819
Buildings & improvements, initial cost	4,636
Improvement costs capitalized subsequent to acquisition	(2)
Land, total cost	817
Buildings & improvements, total cost	4,636
Total	5,453
Accumulated depreciation	176
Net real estate	$ 5,277
Year construction/ improvements	1987
Year construction/improvements one	1995
Year construction/improvements two	2005
Date acquired	Dec. 17, 2019
Albuquerque, New Mexico Industrial Building Two
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 3,453
Land, initial cost	818
Buildings & improvements, initial cost	5,219
Improvement costs capitalized subsequent to acquisition	(4)
Land, total cost	815
Buildings & improvements, total cost	5,218
Total	6,033
Accumulated depreciation	195
Net real estate	$ 5,838
Year construction/ improvements	2000
Date acquired	Dec. 17, 2019
Indianapolis, Indiana Industrial Building Three
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	489
Buildings & improvements, initial cost	3,956
Improvement costs capitalized subsequent to acquisition	206
Land, total cost	493
Buildings & improvements, total cost	4,158
Total	4,651
Accumulated depreciation	137
Net real estate	$ 4,514
Year construction/ improvements	1987
Date acquired	Jan. 8, 2020
Houston, Texas Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 9,772
Land, initial cost	1,714
Buildings & improvements, initial cost	14,170
Improvement costs capitalized subsequent to acquisition	3
Land, total cost	1,717
Buildings & improvements, total cost	14,170
Total	15,887
Accumulated depreciation	385
Net real estate	$ 15,502
Year construction/ improvements	2000
Year construction/improvements one	2018
Date acquired	Jan. 27, 2020
Charlotte, North Carolina Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 5,279
Land, initial cost	1,458
Buildings & improvements, initial cost	6,778
Improvement costs capitalized subsequent to acquisition	4
Land, total cost	1,461
Buildings & improvements, total cost	6,779
Total	8,240
Accumulated depreciation	234
Net real estate	$ 8,006
Year construction/ improvements	1995
Year construction/improvements one	1999
Year construction/improvements two	2006
Date acquired	Jan. 27, 2020
St. Charles, Missouri Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 2,920
Land, initial cost	924
Buildings & improvements, initial cost	3,749
Improvement costs capitalized subsequent to acquisition	4
Land, total cost	928
Buildings & improvements, total cost	3,749
Total	4,677
Accumulated depreciation	105
Net real estate	$ 4,572
Year construction/ improvements	2012
Date acquired	Jan. 27, 2020
Crandall, Georgia Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 17,224
Land, initial cost	2,711
Buildings & improvements, initial cost	26,632
Improvement costs capitalized subsequent to acquisition	115
Land, total cost	2,711
Buildings & improvements, total cost	26,747
Total	29,458
Accumulated depreciation	641
Net real estate	$ 28,817
Year construction/ improvements	2020
Date acquired	Mar. 9, 2020
Terre Haute, Indiana Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	502
Buildings & improvements, initial cost	8,076
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	502
Buildings & improvements, total cost	8,076
Total	8,578
Accumulated depreciation	81
Net real estate	$ 8,497
Year construction/ improvements	2010
Date acquired	Sep. 1, 2020
Montgomery, Alabama Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 0
Land, initial cost	599
Buildings & improvements, initial cost	11,290
Improvement costs capitalized subsequent to acquisition	3
Land, total cost	602
Buildings & improvements, total cost	11,290
Total	11,892
Accumulated depreciation	96
Net real estate	$ 11,796
Year construction/ improvements	1990
Year construction/improvements one	1997
Date acquired	Oct. 14, 2020
Huntsville, Alabama Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 10,348
Land, initial cost	1,445
Buildings & improvements, initial cost	15,040
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,445
Buildings & improvements, total cost	15,040
Total	16,485
Accumulated depreciation	21
Net real estate	$ 16,464
Year construction/ improvements	2001
Date acquired	Dec. 18, 2020
Pittsburg, Pennsylvania Industrial Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances, initial cost	$ 6,375
Land, initial cost	1,422
Buildings & improvements, initial cost	10,094
Improvement costs capitalized subsequent to acquisition	0
Land, total cost	1,422
Buildings & improvements, total cost	10,094
Total	11,516
Accumulated depreciation	13
Net real estate	$ 11,503
Year construction/ improvements	1994
Date acquired	Dec. 21, 2020

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation 2 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Total gross cost	$ 1,140,205	$ 1,064,389	$ 949,822	$ 906,850
Real Estate Held for Sale
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Total real estate held for sale	$ 8,114	$ 3,990
Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciable life	39 years
Improvements | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciable life	5 years
Improvements | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Depreciable life	20 years

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Change in Balance of Real Estate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of period	$ 1,064,389	$ 949,822	$ 906,850
Additions:
Acquisitions during period	111,049	108,972	53,432
Improvements	11,696	10,580	4,824
Deductions:
Dispositions during period	(43,383)	(3,172)	(15,284)
Impairments during period	(3,546)	(1,813)	0
Balance at end of period	$ 1,140,205	$ 1,064,389	$ 949,822

Schedule III - Real Estate an_5

Schedule III - Real Estate and Accumulated Depreciation - Change in Balance of Real Estate 2 (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate Held for Sale
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Real estate held for sale, gross	$ 11.5	$ 7.4	$ 3.2

Schedule III - Real Estate an_6

Schedule III - Real Estate and Accumulated Depreciation - Change in Balance of Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of period	$ 210,944	$ 178,475	$ 153,387
Additions during period	36,034	32,838	29,915
Dispositions during period	(15,102)	(369)	(4,827)
Balance at end of period	$ 231,876	$ 210,944	$ 178,475

Schedule III - Real Estate an_7

Schedule III - Real Estate and Accumulated Depreciation - Change in Balance of Accumulated Depreciation 2 (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate Held for Sale
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Real estate held for sale, accumulated depreciation	$ 3.4	$ 3.4	$ 0.2

Uncategorized Items - good-2020

Label	Element	Value
Restricted Cash	us-gaap_RestrictedCash	$ 5,060,000
Restricted Cash	us-gaap_RestrictedCash	2,491,000
Restricted Cash	us-gaap_RestrictedCash	$ 4,639,000