Cole Credit Property Trust 10-K 31 Mar 14 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Mar. 26, 2014	Jun. 30, 2013
Document and Entity Information [Abstract]	'	'	'
Entity Registrant Name	'Cole Credit Property Trust Inc	'	'
Entity Central Index Key	'0001289272	'	'
Document Type	'10-K	'	'
Document Period End Date	31-Dec-13	'	'
Amendment Flag	'false	'	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Common Stock, Shares Outstanding	'	10,090,951	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Public Float	'	'	$0

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Investment in real estate assets:	'	'
Land	$43,175	$42,017
Buildings and improvements, less accumulated depreciation of $25,782 and $22,684, respectively	78,885	76,943
Intangible lease assets, less accumulated amortization of $12,821 and $11,342, respectively	8,165	8,795
Total investment in real estate assets, net	130,225	127,755
Cash and cash equivalents	652	7,788
Restricted cash	2,327	2,073
Rents and tenant receivables, prepaid expenses and other assets	1,273	1,402
Deferred financing costs, less accumulated amortization of $2,217 and $1,662, respectively	812	1,367
Total assets	135,289	140,385
LIABILITIES AND STOCKHOLDERS’ EQUITY	'	'
Notes payable	85,606	86,322
Lines of credit with affiliate	300	0
Accounts payable and accrued expenses	662	769
Due to affiliates	39	32
Acquired below market lease intangibles, less accumulated amortization of $1,802 and $1,604, respectively	395	593
Distributions payable	429	427
Deferred rent	517	592
Total liabilities	87,948	88,735
Commitments and contingencies	'	'
STOCKHOLDERS’ EQUITY:	'	'
Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value; 90,000,000 shares authorized, 10,090,951 shares issued and outstanding	101	101
Capital in excess of par value	90,424	90,424
Accumulated distributions in excess of earnings	-43,184	-38,875
Total stockholders’ equity	47,341	51,650
Total liabilities and stockholders’ equity	$135,289	$140,385

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Accumulated depreciation on buildings and improvements	$25,782	$22,684
Accumulated amortization on intangible lease assets	12,821	11,342
Accumulated amortization on deferred financing costs	2,217	1,662
Accumulated amortization on acquired below market lease intangibles	$1,802	$1,604
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	10,090,951	10,090,951
Common stock, shares outstanding	10,090,951	10,090,951

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Revenues:	'	'
Rental and other property income	$13,003	$12,448
Tenant reimbursement income	452	389
Total revenue	13,455	12,837
Expenses:	'	'
General and administrative expenses	829	807
Property operating expenses	681	638
Property management expenses	401	379
Acquisition related expenses	325	0
Depreciation	3,098	3,036
Amortization	1,468	1,478
Total operating expenses	6,802	6,338
Operating income	6,653	6,499
Other income (expense):	'	'
Other income	140	9
Interest expense	-6,056	-6,242
Total other expense	-5,916	-6,233
Income from continuing operations	737	266
Discontinued operations:	'	'
Income from operations	0	68
Gain on sale of discontinued operations	0	3,715
Income from discontinued operations	0	3,783
Net income	$737	$4,049
Weighted average number of common shares outstanding:	'	'
Basic and diluted (in shares)	10,090,951	10,090,951
Income from continuing operations per common share:	'	'
Basic and diluted (in dollars per share)	$0.07	$0.03
Income from discontinued operations per common share:	'	'
Basic and diluted (in dollars per share)	$0	$0.37
Net income per common share:	'	'
Basic and diluted (in dollars per share)	$0.07	$0.40

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders' Equity (USD $)	Total	Common Stock	Capital in Excess of Par Value	Accumulated Distributions in Excess of Earnings
In Thousands, except Share data, unless otherwise specified
Beginning balance at Dec. 31, 2011	$52,646	$101	$90,424	($37,879)
Beginning balance, shares at Dec. 31, 2011	'	10,090,951	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'
Distributions	-5,045	'	'	-5,045
Net income	4,049	'	'	'
Ending balance at Dec. 31, 2012	51,650	101	90,424	-38,875
Ending balance, shares at Dec. 31, 2012	10,090,951	10,090,951	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'
Distributions	-5,046	'	'	-5,046
Net income	737	'	'	'
Ending balance at Dec. 31, 2013	$47,341	$101	$90,424	($43,184)
Ending balance, shares at Dec. 31, 2013	10,090,951	10,090,951	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:	'	'
Net income	$737	$4,049
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	3,098	3,243
Amortization of intangible lease assets and below market lease intangibles, net	1,281	1,446
Amortization of deferred financing costs	555	514
Gain on sale of real estate assets	0	-3,715
Changes in assets and liabilities:	'	'
Rents and tenant receivables, prepaid expenses and other assets	129	-188
Accounts payable and accrued expenses	-107	-58
Deferred rent	-75	-53
Due to affiliates	7	-17
Net cash provided by operating activities	5,625	5,221
Cash flows from investing activities:	'	'
Investment in real estate assets and capital expenditures	-7,047	-180
Proceeds from sale of real estate assets	0	7,377
Change in restricted cash	-254	-677
Net cash (used in) provided by investing activities	-7,301	6,520
Cash flows from financing activities:	'	'
Distributions to investors	-5,044	-5,047
Proceeds from notes payable	0	6,000
Repayment of notes payable	-716	-8,255
Proceeds from lines of credit with affiliates	300	0
Repayment of lines of credit with affiliates	0	-1,935
Deferred financing costs paid	0	-197
Net cash used in financing activities	-5,460	-9,434
Net (decrease) increase in cash and cash equivalents	-7,136	2,307
Cash and cash equivalents, beginning of period	7,788	5,481
Cash and cash equivalents, end of period	652	7,788
Supplemental disclosures of non-cash investing and financing activities:	'	'
Distributions declared and unpaid	429	427
Notes payable assumed by buyer in real estate disposition	0	14,933
Supplemental cash flow disclosures:	'	'
Interest paid	$5,503	$6,401

Organization_and_Business

Organization and Business	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
ORGANIZATION AND BUSINESS	'
	ORGANIZATION AND BUSINESS
	Cole Credit Property Trust, Inc. (the “Company”) is a Maryland corporation that was formed on March 29, 2004 which has elected to be taxed, and currently qualifies, as a real estate investment trust (“REIT”) for federal income tax purposes. The Company is the sole general partner of, and owns, directly or indirectly, 100% of the partnership interest in, Cole Operating Partnership I, LP, a Delaware limited partnership (“Cole OP I”). The Company is externally managed by Cole Advisors, which was, prior to the ARCP Merger (as defined below), indirectly owned by Cole Real Estate Investments, Inc. (“Cole”, formerly known as “Cole Credit Property Trust III, Inc.”), as a result of Cole acquiring Cole Holdings Corporation (“CHC”) on April 5, 2013 pursuant to a transaction whereby CHC merged with and into CREInvestments, LLC (“CREI”), a wholly-owned subsidiary of Cole. On February 7, 2014, American Realty Capital Properties, Inc. (“ARCP”) acquired Cole pursuant to a transaction whereby Cole merged with and into Clark Acquisition, LLC, a wholly-owned subsidiary of ARCP (“Clark Merger Sub”), with Clark Merger Sub surviving as a wholly-owned subsidiary of ARCP (the “ARCP Merger”). ARCP is a self-managed publicly traded Maryland corporation listed on The NASDAQ Global Select Market, focused on acquiring and owning single tenant freestanding commercial properties subject to net leases with high credit quality tenants. As a result of the ARCP Merger, ARCP indirectly owns and/or controls the Company’s external advisor, Cole Advisors, the Company’s dealer manager, Cole Capital Corporation (“CCC”), the Company’s property manager, Cole Realty Advisors, LLC (“Cole Realty”), and the Company’s sponsor, Cole Capital™, as discussed in Note 15.
	On March 17, 2014, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), among the Company, ARCP and Desert Acquisition, Inc., a Delaware corporation and direct wholly-owned subsidiary of ARCP (“Desert Merger Sub”), pursuant to which, among other things, Desert Merger Sub will commence a cash tender offer (the “Offer”) to purchase all of the outstanding shares of the Company’s common stock. Following the expiration of the Offer, and subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement and, if necessary, exercise of the top-up option provided for in the Merger Agreement, the Company will merge with and into Desert Merger Sub, with Desert Merger Sub surviving as a direct wholly-owned subsidiary of ARCP (the “CCPT Merger”). See Note 15 for a further explanation of the Offer and the CCPT Merger.
	As of December 31, 2013, the Company owned 39 properties comprising 956,000 square feet of single-tenant retail and commercial space located in 19 states. As of December 31, 2013, these properties were 100% leased.
	The Company’s stock is not currently listed on a national securities exchange. In the event the Company does not complete the CCPT Merger and does not list its stock for trading on a national securities exchange prior to February 1, 2016, its charter requires that it either: (1) seek stockholder approval of an extension or amendment of this listing deadline; or (2) seek stockholder approval to adopt a plan of liquidation.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”), in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements.
	Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain prior year balances have been reclassified in the consolidated statements of operations to separately present other income and interest expense.
	Use of Estimates
	The preparation of financial statements in conformity with 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	Investment in and Valuation of Real Estate Assets
	Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, including acquisition related expenses incurred prior to January 1, 2009, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets. All repairs and maintenance costs are expensed as incurred.
	The Company is required to make subjective assessments as to the useful lives of its depreciable assets. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life of the assets. Real estate assets, other than land, are depreciated or amortized on a straight-line basis. The estimated useful lives of the Company’s real estate assets by class are generally as follows:
	Buildings	40 years
	Tenant improvements	Lesser of useful life or lease term
	Intangible lease assets	Lease term
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value is determined using a discounted cash flow analysis and recent comparable sales transactions. No impairment losses were recorded during the years ended December 31, 2013 and 2012.
	When developing estimates of expected future cash flows, the Company makes certain assumptions regarding future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, terminal capitalization and discount rates, the expected number of months it takes to re-lease the property, required tenant improvements and the number of years the property will be held for investment. The use of alternative assumptions in estimating expected future cash flows could result in a different determination of the property’s expected future cash flows and a different conclusion regarding the existence of an impairment, the extent of such loss, if any, as well as the fair value of the real estate assets.
	When a real estate asset is identified by the Company as held for sale, the Company ceases depreciation and amortization of the assets related to the property and estimates the fair value, net of selling costs. If, in management’s opinion, the fair value of the asset, net of selling costs, is less than the carrying amount of the asset, an adjustment to the carrying amount would be recorded to reflect the estimated fair value of the property, net of selling costs. There were no assets identified as held for sale as of December 31, 2013 or 2012.
	Allocation of Purchase Price of Real Estate Assets
	Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and identified intangible assets and liabilities, consisting of the value of above market and below market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition related expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and building). The Company obtains an independent appraisal for each real property acquisition. The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information.
	The fair values of above market and below market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including any bargain renewal periods, with respect to a below market lease. The above market and below market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above market or below market lease intangibles relating to that lease would be recorded as an adjustment to rental income.
	The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include commissions and other direct costs and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed.
	The determination of the fair values of the real estate assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, capitalization and discount rates, interest rates and other variables. The use of alternative estimates may result in a different allocation of the Company’s purchase price, which could impact the Company’s results of operations.
	Discontinued Operations
	Upon the disposal of a real estate asset or the determination of a real estate asset as being held for sale, the Company determines if the asset is considered a component of the Company. A component is comprised of operations and cash flows that can clearly be distinguished, operationally and for financial reporting purposes, from the rest of the Company. If the asset is considered a component of the Company, the results of operations and gains or losses on the sale of the component are required to be presented in discontinued operations if both of the following criteria are met: (1) the operations and cash flows of the asset have been (or will be) eliminated from the ongoing operations of the Company as a result of the disposal transaction and (2) the Company will not have any significant continuing involvement in the operations of the asset after the disposal transaction. Also, the prior period results of operations for the asset are reclassified and presented in discontinued operations in the prior consolidated statements of operations.
	Sale of Real Estate Assets
	Gains on the sale of real estate assets are recognized by the full accrual method when the following criteria are met: (1) the gain is determinable, that is, the collectability of the sales price is reasonably assured or the amount that will not be collectible can be estimated, and (2) the earnings process is virtually complete, that is, the Company is not obligated to perform significant activities after the sale to earn the gain.
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with maturities when purchased of three months or less to be cash equivalents. The Company considers investments in highly liquid money market accounts to be cash equivalents.
	Restricted Cash
	As of December 31, 2013, $2.0 million was included in restricted cash, which was held by lenders in escrow accounts primarily for tenant and capital improvements, leasing commissions and repairs and maintenance for certain properties, in accordance with the respective lender’s loan agreement. In addition, as of December 31, 2013, the Company had $284,000 in restricted cash held by lenders in a lockbox account. As part of certain debt agreements, rents from the encumbered properties are deposited directly into a lockbox account, from which the monthly debt service payment is disbursed to the lender and the excess funds are disbursed to the Company.
	Rents and Tenant Receivables
	Rents and tenant receivables primarily include amounts to be collected in future periods related to the recognition of rental income on a straight-line basis over the lease term and cost recoveries due from tenants. The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy, if any, are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company’s reported net income or loss is directly affected by management’s estimate of the collectability of accounts receivable. The Company records allowances for those balances that the Company deems to be uncollectible, including any amounts relating to straight-line rent receivables. As of December 31, 2013 and 2012, no balances were deemed uncollectible and no allowances were recorded.
	Prepaid Expenses
	Prepaid expenses include expenses paid as of the balance sheet date that relate to future periods and will be expensed or reclassified to another account during the period to which the costs relate. Any amounts with no future economic benefit are charged to earnings when identified.
	Deferred Financing Costs
	Deferred financing costs are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method. If a note payable is prepaid, any unamortized deferred financing costs related to the note payable would be expensed. Amortization of deferred financing costs, including any write-offs, for the years ended December 31, 2013 and 2012 was $555,000 and $514,000, respectively, and was included in interest expense in the consolidated statements of operations.
	Revenue Recognition
	Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred.
	Income Taxes
	The Company currently qualifies as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended. The Company will generally not be subject to federal corporate income tax to the extent it distributes its taxable income to its stockholders, and so long as it, among other things, distributes at least 90% of its annual taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). REITs are subject to a number of other organizational and operational requirements. Even if the Company maintains its qualification for taxation as a REIT, it or its subsidiaries may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.
	Concentration of Credit Risk
	As of December 31, 2013, the Company had cash on deposit, including restricted cash, at two financial institutions in which the Company had deposits in excess of federally insured levels, totaling $2.5 million; however, the Company has not experienced any losses in such accounts. The Company limits cash investments to financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk on cash.
	As of December 31, 2013, three tenants in the drugstore industry, three tenants in the home and garden industry, two tenants in the automotive industry and two tenants in the electronics and appliances industry accounted for 40%, 21%, 11% and 10%, respectively, of the Company’s 2013 gross annualized rental revenues. One tenant in the drugstore industry, one tenant in the home and garden industry and one tenant in the automotive industry accounted for 26%, 13% and 10%, respectively, of the Company’s 2013 gross annualized rental revenues. Additionally the Company has certain geographic concentration in its property holdings. In particular, as of December 31, 2013, eight of the Company’s properties were located in Texas and one property was located in Georgia, accounting for 29% and 10%, respectively, of the Company’s 2013 gross annualized rental revenues.
	Redemptions of Common Stock
	The Company’s share redemption program provides that the Company’s board of directors must determine at the beginning of each fiscal year the maximum amount of shares that the Company may redeem during that year. The Company’s board of directors determined that no amounts were to be made available for redemption during the year ended December 31, 2013.
	Earnings Per Share
	Earnings per share are calculated based on the weighted average number of common shares outstanding during each period presented. The weighted average number of common shares outstanding is identical for basic and fully diluted earnings per share. The Company has no stock options issued or outstanding.
	Reportable Segments
	The Company’s operating segment consists of commercial properties, which include activities related to investing in real estate. The commercial properties are geographically diversified throughout the United States and have similar economic characteristics. The Company evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
	Interest
	Interest is charged to interest expense as it accrues. No interest costs were capitalized during the years ended December 31, 2013 or 2012.
	Distributions Payable and Distribution Policy
	In order to maintain its status as a REIT, the Company is required to, among other things, make distributions each taxable year equal to at least 90% of its taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). To the extent that funds are available, the Company intends to pay regular distributions to stockholders. Distributions are paid to stockholders of record as of applicable record dates.
	Recent Accounting Pronouncements
	In February 2013, the U.S. Financial Accounting Standards Board issued Accounting Standards Update 2013-02 Comprehensive Income (Topic 220), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”), which amends the reporting requirements for comprehensive income pertaining to the reclassification of items out of accumulated other comprehensive income. ASU 2013-02 was effective for the Company beginning January 1, 2013. The adoption of ASU 2013-02 did not have a material impact on the Company’s consolidated financial statements because the Company did not have items of other comprehensive income.

Fair_Value_Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
FAIR VALUE MEASUREMENTS	'
	FAIR VALUE MEASUREMENTS
	GAAP defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. GAAP emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement.
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate the fair value. Assets and liabilities are measured using inputs from three levels of the fair value hierarchy, as follows:
	Level 1 – Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
	Level 2 – Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs).
	Level 3 – Unobservable inputs, which are only used to the extent that observable inputs are not available, reflect the Company’s assumptions about the pricing of an asset or liability.
	The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities:
	Cash and cash equivalents and restricted cash – The Company considers the carrying values of these financial assets to approximate fair value because of the short period of time between their origination and their expected realization.
	Notes payable and lines of credit – The fair value is estimated by discounting the expected cash flows based on estimated borrowing rates available to the Company as of the measurement date. The estimated fair value of the Company’s debt was $88.6 million and $89.6 million as of December 31, 2013 and 2012, respectively, compared to the carrying value of $85.9 million and $86.3 million as of December 31, 2013 and 2012, respectively. The fair value of the Company’s debt is estimated using Level 2 inputs.
	Considerable judgment is necessary to develop estimated fair values of financial assets and liabilities. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize, or be liable for on disposition of the financial assets and liabilities. As of December 31, 2013 and 2012, there have been no transfers of financial assets or liabilities between fair value hierarchy levels.

Real_Estate_Acquisitions

Real Estate Acquisitions	12 Months Ended
	Dec. 31, 2013
Real Estate [Abstract]	'
REAL ESTATE ACQUISITIONS	'
	REAL ESTATE ACQUISITIONS
	During the year ended December 31, 2013, the Company acquired a 100% interest in three commercial properties for an aggregate purchase price of $6.7 million (the “2013 Acquisitions”). The Company purchased the 2013 Acquisitions with net cash proceeds from the sale of five properties during the year ended December 31, 2012. The Company allocated the purchase price of the 2013 Acquisitions to the fair value of the assets acquired. The following table summarizes the purchase price allocations (in thousands):
		December 31, 2013
	Land	$	1,158
	Building and improvements	4,723
	Acquired in-place leases	732
	Acquired above market leases	117
	Total purchase price	$	6,730
	The Company recorded revenue of $453,000 and a net loss of $52,000 for the year ended December 31, 2013 related to the 2013 Acquisitions. In addition, the Company recorded $325,000 of acquisition related expenses for the year ended December 31, 2013.
	The following table summarizes selected financial information of the Company as if the 2013 Acquisitions were completed on January 1, 2012 for each period presented below. The table below presents the Company’s estimated revenue and net income, on a pro forma basis, for the years ended December 31, 2013 and 2012 (in thousands):
		Year Ended December 31,
	Pro forma basis (unaudited):	2013		2012
	Revenue	$	13,633	$	14,465
	Net income	$	1,358	$	4,039
	The unaudited pro forma information for the year ended December 31, 2013 was adjusted to exclude acquisition related expenses recorded during such period relating to the 2013 Acquisitions. These expenses were recognized in the unaudited pro forma information for the year ended December 31, 2012. The unaudited pro forma revenue presented for the year December 31, 2012 includes revenue related to properties sold in 2012, as discussed in Note 6 below. The unaudited pro forma information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2012, nor does it purport to represent the results of future operations.

Intangible_Lease_Assets

Intangible Lease Assets	12 Months Ended
	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
INTANGIBLE LEASE ASSETS	'
	INTANGIBLE LEASE ASSETS
	Intangible lease assets consisted of the following (in thousands, except weighted average life amounts):
				As of December 31,
				2013			2012
	In-place leases, net of accumulated amortization of $12,765 and $11,297,
		respectively (with a weighted average life remaining of 7.4 and 7.1 years, respectively)		$	8,029		$	8,765
	Acquired above market leases, net of accumulated amortization of $56 and $45,
		respectively (with a weighted average life remaining of 9.8 and 5.8 years, respectively)		136			30
				$	8,165		$	8,795
	Amortization expense related to the in-place lease assets for each of the years ended December 31, 2013 and 2012 was $1.5 million. Amortization expense related to the acquired above market lease assets for the years ended December 31, 2013 and 2012 was $11,000 and $6,000, respectively, and was recorded as a reduction to rental and other property revenue in the consolidated statements of operations.
	Estimated amortization of the intangible lease assets as of December 31, 2013 for each of the five succeeding fiscal years is as follows (in thousands):
			Amortization of
	Year Ending December 31,		In-Place Leases			Above Market Leases
	2014		$	1,239		$	15
	2015		$	1,091		$	15
	2016		$	1,034		$	10
	2017		$	996		$	10
	2018		$	890		$	10

Discontinued_Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
DISCONTINUED OPERATIONS	'
	DISCONTINUED OPERATIONS
	No properties were sold during the year ended December 31, 2013. During the year ended December 31, 2012, the Company sold five properties (the “2012 Sold Properties”) for an aggregate sales price of $23.0 million. Upon completion of the sales, $14.9 million of loans collateralized by these properties were assumed by the respective buyers. No disposition fees were paid to Cole Advisors or its affiliates in connection with the sale of the 2012 Sold Properties.
	The 2012 Sold Properties resulted in net cash proceeds of $7.4 million and a gain of $3.7 million. Revenue related to the 2012 Sold Properties was $977,000 for the year ended December 31, 2012. Results of the 2012 Sold Properties have been presented as discontinued operations in the Company’s consolidated statements of operations for the year ended December 31, 2012. Subsequent to the sales, the Company had no continuing involvement with these properties.
	As of the respective closing dates of the 2012 Sold Properties, the major classes of assets and liabilities of these properties included net total investment in real estate assets of $18.5 million and mortgage notes payable of $14.9 million. In connection with the 2012 Sold Properties, $91,000 of deferred financing costs were written off as a reduction in the gain on sale.

Notes_Payable_and_Lines_of_Cre

Notes Payable and Lines of Credit	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
NOTES PAYABLE AND LINES OF CREDIT	'
	NOTES PAYABLE AND LINES OF CREDIT
	As of December 31, 2013, the Company had $85.9 million of debt outstanding, consisting of $79.6 million fixed rate mortgage loans (the “Fixed Rate Notes”), a $6.0 million variable rate mortgage loan (the “Variable Rate Note”) and $300,000 of borrowings on one of the Company’s two revolving lines of credit with an affiliate of Cole Advisors (the “Lines of Credit”). The Fixed Rate Notes have interest rates ranging from 5.27% to 6.96%, with a weighted average interest rate of 6.53%, and mature on various dates from March 2015 through September 2017, with a weighted average remaining term of 1.5 years. The Variable Rate Note had an interest rate of 2.54% at December 31, 2013 and matures in December 2015. The Lines of Credit provide for total borrowings of up to $2.9 million and both were scheduled to mature on March 31, 2014. Subsequent to December 31, 2013, the Company extended the maturity dates on both of the Lines of Credit to March 31, 2015. The Lines of Credit bear interest at a fixed rate of 5.75%. During the year ended December 31, 2013, the Company borrowed $300,000 on one of the Lines of Credit and repaid $716,000 in monthly principal payments on the Fixed Rate Notes. The aggregate balance of gross real estate and related assets, net of gross intangible lease liabilities, securing the debt outstanding was $156.4 million as of December 31, 2013.
	Each of the mortgage notes payable and Lines of Credit are secured by the respective properties and their related leases on which the debt was placed. The mortgage notes and Lines of Credit are generally non-recourse to the Company and Cole OP I, but both are liable for customary non-recourse carve-outs. The mortgage notes payable and Lines of Credit contain customary default provisions. Generally, upon the occurrence of an event of default, interest on the mortgage notes will accrue at an annual default interest rate equal to the lesser of (1) the maximum rate permitted by applicable law, or (2) the then-current interest rate plus a percentage specified in the respective loan agreement. Certain mortgage notes payable contain customary affirmative, negative and financial covenants, such as requirements for minimum net worth, debt service coverage ratios, limitations on leverage ratios and variable rate debt. Based on the Company’s analysis and review of its results and related requirements, the Company believes it was in compliance with the covenants of such mortgage notes payable as of December 31, 2013.
	In the event that a mortgage note is not paid off on the respective maturity date, certain mortgage notes include hyper-amortization provisions. Under the hyper-amortization provisions, the individual mortgage note maturity date will be extended by 20 years. During the hyper-amortization period, the lender will apply 100% of the rents collected from the property collateralizing the note to the following items in the order indicated: (1) payment of accrued interest at the original fixed interest rate, (2) all payments for escrow or reserve accounts, (3) any operating expenses of the property pursuant to an approved annual budget and (4) any extraordinary operating or capital expenses. The balance of the rents collected will be applied to the following items in such order as the lender may determine: (1) any other amounts due in accordance with the loan document, (2) the reduction of the principal balance of the mortgage note and (3) interest accrued at the “Revised Interest Rate” but not previously paid. As used herein, the Revised Interest Rate means an interest rate equal to the greater of (i) the initial fixed interest rate as stated in the loan agreement plus 2.0% per annum or (ii) the then current Treasury Constant Maturity Yield Index, as defined in the loan agreement, plus 2.0% per annum. As of December 31, 2013, the Company did not have any amounts outstanding under notes payable that were extended with hyper-amortization provisions. During the year ended December 31, 2012, the Company repaid in full, without premium or penalty, the remaining $4.3 million outstanding balance under one note payable with hyper-amortization provisions.
	Generally, the mortgage notes may not be prepaid, in whole or in part, except under the following circumstances: (1) the prepayment may be made subject to payment of a yield maintenance premium or through defeasance, (2) full prepayment may be made on any of the three monthly payment dates occurring immediately prior to the maturity date, and (3) partial prepayments resulting from the application of insurance or condemnation proceeds to reduce the outstanding principal balance of the mortgage notes. Notwithstanding the prepayment limitations, the Company may sell the properties to a buyer that assumes the respective mortgage loan. The transfer would be subject to the conditions set forth in the individual property’s mortgage note document, including without limitation, the lender’s approval of the proposed buyer and the payment of the lender’s fees, costs and expenses associated with the sale of the property and the assumption of the loan.
	The following table summarizes the scheduled aggregate principal repayments for the five years subsequent to December 31, 2013 (in thousands):
	For the year ending December 31,	Principal Repayments
	2014	$	1,054
	2015	74,549
	2016	8,625
	2017	1,678
	2018	—
	Total	$	85,906

Acquired_Below_Market_Lease_In

Acquired Below Market Lease Intangibles	12 Months Ended
	Dec. 31, 2013
Intangible Liabilities Disclosure [Abstract]	'
ACQUIRED BELOW MARKET LEASE INTANGIBLES	'
	ACQUIRED BELOW MARKET LEASE INTANGIBLES
	Acquired below market lease intangibles consisted of the following (in thousands, except weighted average life amounts):
				As of December 31,
				2013		2012
	Acquired below market leases, net of accumulated amortization of $1,802 and
		$1,604, respectively (with a weighted average life remaining of 3.4 and 3.6 years, respectively)		$	395	$	593
	Amortization of the intangible lease liabilities during each of the years ended December 31, 2013 and 2012 was $198,000 and was recorded as an addition to rental and other property income.
	Estimated amortization of the intangible lease liability as of December 31, 2013 for each of the five succeeding fiscal years is as follows (in thousands):
	Year Ending December 31,		Amortization of Below Market Leases
	2014		$	132
	2015		$	55
	2016		$	55
	2017		$	52
	2018		$	40

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	COMMITMENTS AND CONTINGENCIES
	Litigation
	In the ordinary course of business, the Company may become subject to litigation or claims. The Company is not aware of any pending legal proceedings of which the outcome is reasonably possible to have a material effect on its results of operations, financial condition or liquidity.
	Environmental Matters
	In connection with the ownership and operation of real estate, the Company potentially may be liable for costs and damages related to environmental matters. The Company carries environmental liability insurance on its properties that provides limited coverage for remediation liability and pollution liability for third-party bodily injury and property damage claims. The Company is not aware of any environmental condition that it believes will have a material effect on its results of operations, financial condition or liquidity.
	Lease Commitments
	During the year ended December 31, 2013, the Company executed two lease amendments extending the non-cancelable lease terms by five and ten years, respectively. In accordance with the lease amendments, the Company is obligated to fund up to $1.1 million of capital improvements, of which the Company funded $324,000 as of December 31, 2013.

RelatedParty_Transactions_and_

Related-Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	'
	RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS
	Certain affiliates of the Company’s advisor received fees and compensation in connection with the Company’s private placement of shares of its common stock. Certain affiliates of the Company’s advisor have received, and may continue to receive, fees and compensation in connection with the acquisition, financing, management and disposition of the assets of the Company. Other transactions may result in the receipt of commissions, fees and other compensation by Cole Advisors and its affiliates, including subordinated participation in net sale proceeds and subordinated performance fees.
	If Cole Advisors provides substantial services, as determined by the Company, in connection with the origination or refinancing of any debt financing obtained by the Company that is used to acquire properties or to make other permitted investments, or that is assumed, directly or indirectly, in connection with the acquisition of properties, the Company will pay Cole Advisors a financing coordination fee equal to 1% of the amount available under such financing; provided, however, that Cole Advisors shall not be entitled to a financing coordination fee in connection with the refinancing of any loan secured by any particular property that was previously subject to a refinancing in which Cole Advisors received such a fee. Financing coordination fees payable on loan proceeds from permanent financing will be paid to Cole Advisors as the Company acquires such permanent financing. However, no fees will be paid on loan proceeds from any lines of credit until such time as all net offering proceeds have been invested by the Company. No such fees were incurred by the Company during the year ended December 31, 2013. The Company incurred $60,000 for financing coordination fees during the year ended December 31, 2012.
	The Company paid, and expects to continue to pay, Cole Realty, its property manager and an affiliate of the Company’s advisor, fees for the management and leasing of the Company’s properties. Property management fees are equal to 3% of gross revenues, and leasing fees are at prevailing market rates, not to exceed the greater of $4.50 per square foot or 7.5% of the total lease obligation. During the years ended December 31, 2013 and 2012, the Company incurred $401,000 and $417,000 for property management fees, respectively, of which $38,000 has been included within discontinued operations for the year ended December 31, 2012. As of December 31, 2013 and 2012, $39,000 and $32,000, respectively, of such costs had been incurred, but not paid, by the Company and are included in due to affiliates in the consolidated financial statements. Pursuant to a waiver of the leasing fee by Cole Realty, no leasing fees were incurred by the Company during the year ended December 31, 2013. The Company is not obligated to pay any amounts for such period. However, Cole Realty may elect to charge leasing fees in future periods at prevailing market rates.  No leasing fees were incurred by the Company during the year ended December 31, 2013.
	Cole Realty, or its affiliates, also receives acquisition and advisory fees of up to 3% of the contract purchase price of each property. During the year ended December 31, 2013, the Company incurred $202,000 for acquisition fees. No such fees were incurred by the Company during the year ended December 31, 2012.
	The Company is obligated to pay Cole Advisors an annualized asset management fee of up to 0.25% of the aggregate asset value of the Company’s assets. Pursuant to a waiver of the fee by Cole Advisors, no asset management fees were incurred by the Company during the years ended December 31, 2013 or 2012. The Company is not obligated to pay any amounts for such periods. However, Cole Advisors may elect to charge asset management fees in future periods up to the 0.25% fee.
	If Cole Advisors, or its affiliates, provides a substantial amount of services, as determined by the Company, in connection with the sale of one or more properties, the Company will pay Cole Advisors an amount up to 3% of the contract price of each asset sold. In no event will the combined disposition fee paid to Cole Advisors, its affiliates and unaffiliated third parties exceed the reasonable, customary and competitive amount for such services. In addition, after investors have received a return of their net capital contributions and a 7.5% annual cumulative, non-compounded return, then Cole Advisors is entitled to receive 20% of the remaining net sale proceeds. No such fees were incurred by the Company during the years ended December 31, 2013 or 2012 relating to the sale of properties.
	In the event the Company’s common stock is listed in the future on a national securities exchange, a subordinated incentive listing fee equal to 20% of the amount by which the market value of the Company’s outstanding stock plus all distributions paid by the Company prior to listing exceeds the sum of the total amount of capital raised from investors and the amount of cash flow necessary to generate a 7.5% annual cumulative, non-compounded return to investors, will be paid to Cole Advisors.
	The Company may reimburse Cole Advisors for expenses it incurs in connection with its provision of administrative services, including related personnel costs. The Company does not reimburse for personnel costs in connection with services for which Cole Advisors receives acquisition or disposition fees. Pursuant to a waiver by Cole Advisors, no such costs were incurred by the Company during the years ended December 31, 2013 or 2012.
	As of December 31, 2013, the Company had $300,000 outstanding on one of its two Lines of Credit with an affiliate of Cole Advisors and available borrowings of $2.6 million. Both of the Lines of Credit were scheduled to mature on March 31, 2014 and bear fixed interest rates of 5.75%. Subsequent to December 31, 2013, the Company extended the maturity dates on both of the Lines of Credit to March 31, 2015. No financing coordination fees were paid, or will be paid, to Cole Advisors or its affiliates in connection with the Lines of Credit. During the years ended December 31, 2013 and 2012, the Company incurred $5,000 and $84,000, respectively, of interest expense related to the Lines of Credit.

Economic_Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2013
Economic Dependency [Abstract]	'
ECONOMIC DEPENDENCY	'
	ECONOMIC DEPENDENCY
	Under various agreements, the Company has engaged or will engage Cole Advisors and its affiliates to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, the sale of shares of the Company’s common stock available for issuance, as well as other administrative responsibilities for the Company including accounting services and investor relations. As a result of these relationships, the Company is dependent upon Cole Advisors and its affiliates. In the event that these companies are unable to provide the Company with these services, the Company would be required to find alternative providers of these services.

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
STOCKHOLDERS' EQUITY	'
	STOCKHOLDERS’ EQUITY
	As of each of December 31, 2013 and 2012, the Company was authorized to issue 90,000,000 shares of common stock and 10,000,000 shares of preferred stock. All shares of such stock have a par value of $0.01 per share. The Company’s board of directors may authorize additional shares of capital stock and amend their terms without obtaining stockholder approval.
	Share Redemption Program
	The Company’s common stock is currently not listed on a national securities exchange, and the Company currently does not intend to list its common stock. In order to provide stockholders with the possibility of liquidity, stockholders who have held their shares for at least one year may receive the benefit of limited interim liquidity by presenting for redemption all or a minimum portion of their shares to the Company at any time in accordance with the procedures outlined below. At that time, the Company may, subject to the conditions and limitations described below, redeem the shares presented for redemption for cash to the extent that the Company has sufficient funds available to it to fund such redemption. The Company will not pay its advisor or its affiliates any fees to complete any transactions under the share redemption program.
	The Company determines at the beginning of each fiscal year the maximum amount of shares that it may redeem during that year. The Company may use up to 1.0% of its annual cash flow to meet these redemption needs, including cash proceeds generated from new offerings, operating cash flow not intended for dividends, borrowings, and capital transactions such as asset sales or refinancings. During the years ended December 31, 2013 and 2012, the Company redeemed no shares under the share redemption program. Requests relating to approximately 248,000 shares remained unfulfilled as of December 31, 2013, representing approximately $1.6 million in unfulfilled requests, based on the most recent estimated value of our common stock of $6.55 per share.
	In the event that the Company accepts redemption requests, except as described below for redemptions upon the death of a stockholder, the purchase price for the redeemed shares would equal the lesser of (1) the price actually paid for those shares or (2) either (i) $8.50 per share or (ii) 90.0% of the net asset value per share, as determined by the Company’s board of directors. Therefore, the share redemption price would be $5.90 per share based on the most recently disclosed estimated value of $6.55 per share as determined by the Company’s board of directors. The Company’s board of directors reserves the right in its sole discretion at any time and from time to time to (1) waive the one-year holding period in the event of the death or bankruptcy of a stockholder or other exigent circumstances, (2) reject any request for redemption, (3) change the purchase price for redemption, or (4) otherwise amend the terms of the share redemption program.
	In the event that the Company accepts redemption requests, the purchase price for shares redeemed upon the death of a stockholder generally would be equal to the price the stockholder actually paid for the shares. If, at the time of redemption, the Company’s advisor or another firm it might choose for that purpose has made a determination of the net asset value per share, the purchase price for shares redeemed upon the death of a stockholder would be the net asset value of the shares as so determined. The Company will redeem shares upon the death of a stockholder only to the extent that it has sufficient funds available for such redemptions.
	Redemptions of shares, when requested, generally are made quarterly on a first-come, first-served basis. The Company cannot guarantee that it will have sufficient available cash flow to accommodate any or all requests made in any quarter. If the Company does not have such sufficient funds available, at the time when redemption is requested, a stockholder can (1) withdraw his or her request for redemption or (2) ask that the Company honor such stockholder request at such time, if any, when sufficient funds become available. Such pending requests will generally be honored on a first-come, first-served basis.
	Stockholders may present to the Company fewer than all of their shares for redemption, except that (1) any participating stockholder must present for redemption at least 2,500 shares and (2) if any participating stockholder retains any shares, such stockholder must retain at least 2,500 shares.
	The shares the Company redeems under its share redemption program will be canceled and returned to the status of authorized but unissued shares. The Company does not intend to resell such shares to the public unless they are first registered with the Securities and Exchange Commission under the Securities Act and under appropriate state securities laws or otherwise sold in compliance with such laws.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
INCOME TAX DISCLOSURE	'
	INCOME TAXES
	For federal income tax purposes, distributions to stockholders are characterized as ordinary dividends, capital gain distributions, or nontaxable distributions. Nontaxable distributions will reduce U.S stockholders’ basis (but not below zero) in their shares. The following table shows the character of the distributions the Company paid on a percentage basis for the years ended December 31, 2013 and 2012:
		Year Ended December 31,
	Character of Distributions (unaudited):	2013		2012
	Ordinary dividends	45	%	38	%
	Capital gain distributions	—	%	43	%
	Nontaxable distributions	55	%	19	%
	Total	100	%	100	%
	As of December 31, 2013 and 2012, the tax basis carrying value of the Company’s land and depreciable real estate assets was $144.3 million and $140.3 million, respectively. During the years ended December 31, 2013 and 2012, the Company distributed as dividends to its shareholders 100% of its taxable income for federal income tax purposes. Accordingly, no provision for federal income taxes related to such taxable income was recorded on the Company’s financial statements. During the years ended December 31, 2013 and 2012, the Company incurred state and local income and franchise taxes of $118,000 and $97,000, respectively, which has been recorded in general and administrative expenses in the consolidated statements of operations.
	The Company had no unrecognized tax benefits as of or during the years ended December 31, 2013 and 2012. Any interest and penalties related to unrecognized tax benefits would be recognized within the provision for income taxes in the accompanying consolidated statements of operations. The Company files income tax returns in the U.S. federal jurisdiction, as well as various state jurisdictions, and is subject to routine examinations by the respective tax authorities.

Operating_Leases

Operating Leases	12 Months Ended
	Dec. 31, 2013
Leases [Abstract]	'
OPERATING LEASES	'
	OPERATING LEASES
	All of the Company’s real estate properties are leased to tenants under operating leases, for which the terms and expirations vary. The leases frequently have provisions to extend the lease agreement and other terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants.
	The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2013, is as follows (in thousands):
	Year Ending December 31,	Future Minimum Rental Income
	2014	$	12,679
	2015	12,003
	2016	11,641
	2017	11,333
	2018	10,493
	Thereafter	36,258
		$	94,407

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS
	Estimated Value Per Share
	On January 31, 2013, the Company disclosed that its board of directors established an estimated value of the Company’s common stock, as of December 31, 2013, of $6.55 per share for purposes of assisting fiduciaries of plans subject to the annual reporting requirements of ERISA, and IRA trustees or custodians, in preparing reports relating to an investment in the Company’s shares.
	Share Redemption Program
	The Company’s share redemption program provides that the Company’s board of directors must determine at the beginning of each fiscal year the maximum amount of shares that the Company may redeem during that year. The Company’s board of directors has determined that the Company will not redeem any shares pursuant to its share redemption program during the year ending December 31, 2014.
	Lines of Credit
	Subsequent to December 31, 2013, the Company extended the maturity dates on both of its lines of credit with affiliates with available borrowings of $2.9 million from March 31, 2014 to March 31, 2015. Other than the extension of the maturity dates, the material terms of these lines of credit remain unchanged.
	ARCP Merger
	On February 7, 2014, ARCP acquired Cole pursuant to a transaction whereby Cole merged with and into the Clark Merger Sub, with Clark Merger Sub surviving as a wholly-owned subsidiary of ARCP. ARCP is a self-managed publicly traded Maryland corporation listed on The NASDAQ Global Select Market, focused on acquiring and owning single tenant freestanding commercial properties subject to net leases with high credit quality tenants. As a result of the ARCP Merger, ARCP indirectly owns and/or controls the Company’s external advisor, Cole Advisors, the Company’s dealer manager, CCC, the Company’s property manager, Cole Realty, and the Company’s sponsor, Cole Capital. Despite the indirect change of control that occurred for the Company’s advisor, dealer manager, property manager and sponsor as a result of the consummation of the ARCP Merger, such entities are expected to continue to serve in their respective capacities to the Company.
	In connection with the ARCP Merger, Christopher H. Cole and Marc T. Nemer voluntarily resigned as members of the board of directors, effective as of February 7, 2014. These resignations were not a result of any disagreements with the Company on any matter relating to the Company’s operations, policies or practices. In connection with the resignations of Messrs. Cole and Nemer, the board of directors appointed Nicholas S. Schorsch and William M. Kahane as directors of the Company effective as of February 7, 2014 to fill the vacancies on the board of directors resulting from the resignations of Messrs. Cole and Nemer. Messrs. Schorsch and Kahane will each serve until the Company’s next annual meeting of stockholders and until his respective successor is duly elected and qualifies or until his earlier resignation or removal in accordance with the Company’s organizational documents and applicable law.
	In addition, Mr. Cole stepped down from his roles as the chairman, president and chief executive officer of the Company, effective as of February 7, 2014. In connection with such resignation, the board of directors appointed Mr. Schorsch as chairman, president and chief executive officer of the Company effective as of February 7, 2014.
	CCPT Merger Agreement
	On March 17, 2014, the Company entered into the Merger Agreement among the Company, ARCP, and Desert Merger Sub pursuant to which, among other things, Desert Merger Sub will commence the Offer to purchase all of the outstanding shares of the Company’s common stock at a price of $7.25 per share in cash, without interest, subject to applicable tax withholding. If that number of shares of Company common stock which, together with any shares of Company common stock beneficially owned by ARCP or Desert Merger Sub, represents at least a majority of the shares of Company common stock outstanding as of immediately prior to the expiration of the Offer (as it may be extended pursuant to its terms) are validly tendered in the Offer and not validly withdrawn (the “Minimum Condition”), subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement and, if necessary, the exercise of the Top-Up Option described below, the Company will merge with and into Desert Merger Sub, with Desert Merger Sub surviving as a direct wholly-owned subsidiary of ARCP. In the CCPT Merger, each share of Company common stock not purchased in the Offer (other than shares held by ARCP, any of its subsidiaries or any wholly-owned subsidiaries of the Company, which will automatically be canceled and retired and will cease to exist) will be converted into the right to receive the same cash consideration paid in the Offer.
	Pursuant to the terms of the Merger Agreement, beginning on the date of the Merger Agreement and continuing until 11:59 p.m. (New York City time) on April 16, 2014, the Company and its representatives have the right (acting under the direction of the Company’s board of directors or any committee thereof) to initiate, solicit and encourage any alternative acquisition proposals from third parties, and to provide non-public information to and engage in discussions with third parties with respect to acquisition proposals.
	Completion of the Offer is subject to various conditions, including the satisfaction of the Minimum Condition, the accuracy of the Company’s representations and warranties (subject to customary qualifications), the Company’s material compliance with its covenants and agreements contained in the Merger Agreement, receipt of certain third party consents and the absence of any Company Material Adverse Effect (as defined in the Merger Agreement) with respect to the Company’s business. The Offer is not subject to a financing condition. The closing of the CCPT Merger is subject to various additional conditions, including, if required under Maryland law, approval of the Merger Agreement by the Company’s stockholders. The Merger Agreement includes certain termination rights for both the Company and ARCP and provides that, in connection with the termination of the Merger Agreement, under specified circumstances, the Company may be required to pay ARCP a termination fee in the amount of $1.463 million and reimburse ARCP’s transaction expenses in an amount up to $500,000.
	If, after completion of the Offer, ARCP, Desert Merger Sub and their respective subsidiaries own at least 90% of the outstanding shares of Company common stock, the CCPT Merger will be consummated in accordance with the “short-form” merger provisions under Maryland law without the approval of the CCPT Merger by the Company’s stockholders. If, after completion of the Offer, ARCP, Desert Merger Sub and their respective subsidiaries own less than 90% of the outstanding shares of Company Common Stock, Desert Merger Sub will have the right to exercise an irrevocable option (the “Top-Up Option”) granted to it by the Company under the Merger Agreement to purchase from the Company that number of additional shares of Company common stock that will result in ARCP, Desert Merger Sub and their respective subsidiaries owning one share more than 90% of the outstanding shares of Company common stock (after giving effect to the issuance of shares pursuant to the Top-Up Option). Following the issuance of shares of Company common stock to Desert Merger Sub pursuant to the Top-Up Option, the CCPT Merger will be consummated in accordance with the short-form merger provisions under Maryland law without the approval of the CCPT Merger by the Company’s stockholders.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Basis of accounting	'
	The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”), in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements.
Principles of consolidation and basis of presentation	'
	Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Reclassifications	'
	Certain prior year balances have been reclassified in the consolidated statements of operations to separately present other income and interest expense.
Use of estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Investment in and valuation of real estate assets	'
	Investment in and Valuation of Real Estate Assets
	Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, including acquisition related expenses incurred prior to January 1, 2009, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets. All repairs and maintenance costs are expensed as incurred.
	The Company is required to make subjective assessments as to the useful lives of its depreciable assets. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life of the assets. Real estate assets, other than land, are depreciated or amortized on a straight-line basis. The estimated useful lives of the Company’s real estate assets by class are generally as follows:
	Buildings	40 years
	Tenant improvements	Lesser of useful life or lease term
	Intangible lease assets	Lease term
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value is determined using a discounted cash flow analysis and recent comparable sales transactions. No impairment losses were recorded during the years ended December 31, 2013 and 2012.
	When developing estimates of expected future cash flows, the Company makes certain assumptions regarding future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, terminal capitalization and discount rates, the expected number of months it takes to re-lease the property, required tenant improvements and the number of years the property will be held for investment. The use of alternative assumptions in estimating expected future cash flows could result in a different determination of the property’s expected future cash flows and a different conclusion regarding the existence of an impairment, the extent of such loss, if any, as well as the fair value of the real estate assets.
	When a real estate asset is identified by the Company as held for sale, the Company ceases depreciation and amortization of the assets related to the property and estimates the fair value, net of selling costs. If, in management’s opinion, the fair value of the asset, net of selling costs, is less than the carrying amount of the asset, an adjustment to the carrying amount would be recorded to reflect the estimated fair value of the property, net of selling costs. There were no assets identified as held for sale as of December 31, 2013 or 2012.
Allocation of purchase price of real estate assets	'
	Allocation of Purchase Price of Real Estate Assets
	Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and identified intangible assets and liabilities, consisting of the value of above market and below market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition related expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and building). The Company obtains an independent appraisal for each real property acquisition. The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information.
	The fair values of above market and below market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including any bargain renewal periods, with respect to a below market lease. The above market and below market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above market or below market lease intangibles relating to that lease would be recorded as an adjustment to rental income.
	The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include commissions and other direct costs and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed.
	The determination of the fair values of the real estate assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, capitalization and discount rates, interest rates and other variables. The use of alternative estimates may result in a different allocation of the Company’s purchase price, which could impact the Company’s results of operations.
Discontinued operations	'
	Discontinued Operations
	Upon the disposal of a real estate asset or the determination of a real estate asset as being held for sale, the Company determines if the asset is considered a component of the Company. A component is comprised of operations and cash flows that can clearly be distinguished, operationally and for financial reporting purposes, from the rest of the Company. If the asset is considered a component of the Company, the results of operations and gains or losses on the sale of the component are required to be presented in discontinued operations if both of the following criteria are met: (1) the operations and cash flows of the asset have been (or will be) eliminated from the ongoing operations of the Company as a result of the disposal transaction and (2) the Company will not have any significant continuing involvement in the operations of the asset after the disposal transaction. Also, the prior period results of operations for the asset are reclassified and presented in discontinued operations in the prior consolidated statements of operations.
Sale of real estate assets	'
	Sale of Real Estate Assets
	Gains on the sale of real estate assets are recognized by the full accrual method when the following criteria are met: (1) the gain is determinable, that is, the collectability of the sales price is reasonably assured or the amount that will not be collectible can be estimated, and (2) the earnings process is virtually complete, that is, the Company is not obligated to perform significant activities after the sale to earn the gain.
Cash and cash equivalents	'
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with maturities when purchased of three months or less to be cash equivalents. The Company considers investments in highly liquid money market accounts to be cash equivalents.
Restricted cash	'
	Restricted Cash
	As of December 31, 2013, $2.0 million was included in restricted cash, which was held by lenders in escrow accounts primarily for tenant and capital improvements, leasing commissions and repairs and maintenance for certain properties, in accordance with the respective lender’s loan agreement. In addition, as of December 31, 2013, the Company had $284,000 in restricted cash held by lenders in a lockbox account. As part of certain debt agreements, rents from the encumbered properties are deposited directly into a lockbox account, from which the monthly debt service payment is disbursed to the lender and the excess funds are disbursed to the Company.
Rents and tenant receivables	'
	Rents and Tenant Receivables
	Rents and tenant receivables primarily include amounts to be collected in future periods related to the recognition of rental income on a straight-line basis over the lease term and cost recoveries due from tenants. The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy, if any, are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company’s reported net income or loss is directly affected by management’s estimate of the collectability of accounts receivable. The Company records allowances for those balances that the Company deems to be uncollectible, including any amounts relating to straight-line rent receivables. As of December 31, 2013 and 2012, no balances were deemed uncollectible and no allowances were recorded.
Prepaid Expenses	'
	Prepaid Expenses
	Prepaid expenses include expenses paid as of the balance sheet date that relate to future periods and will be expensed or reclassified to another account during the period to which the costs relate. Any amounts with no future economic benefit are charged to earnings when identified.
Deferred financing costs	'
	Deferred Financing Costs
	Deferred financing costs are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method. If a note payable is prepaid, any unamortized deferred financing costs related to the note payable would be expensed. Amortization of deferred financing costs, including any write-offs, for the years ended December 31, 2013 and 2012 was $555,000 and $514,000, respectively, and was included in interest expense in the consolidated statements of operations.
Revenue recognition	'
	Revenue Recognition
	Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred.
Income tax	'
	Income Taxes
	The Company currently qualifies as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended. The Company will generally not be subject to federal corporate income tax to the extent it distributes its taxable income to its stockholders, and so long as it, among other things, distributes at least 90% of its annual taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). REITs are subject to a number of other organizational and operational requirements. Even if the Company maintains its qualification for taxation as a REIT, it or its subsidiaries may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.
Concentration of credit risk	'
	Concentration of Credit Risk
	As of December 31, 2013, the Company had cash on deposit, including restricted cash, at two financial institutions in which the Company had deposits in excess of federally insured levels, totaling $2.5 million; however, the Company has not experienced any losses in such accounts. The Company limits cash investments to financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk on cash.
	As of December 31, 2013, three tenants in the drugstore industry, three tenants in the home and garden industry, two tenants in the automotive industry and two tenants in the electronics and appliances industry accounted for 40%, 21%, 11% and 10%, respectively, of the Company’s 2013 gross annualized rental revenues. One tenant in the drugstore industry, one tenant in the home and garden industry and one tenant in the automotive industry accounted for 26%, 13% and 10%, respectively, of the Company’s 2013 gross annualized rental revenues. Additionally the Company has certain geographic concentration in its property holdings. In particular, as of December 31, 2013, eight of the Company’s properties were located in Texas and one property was located in Georgia, accounting for 29% and 10%, respectively, of the Company’s 2013 gross annualized rental revenues.
Redemptions of common stock	'
	Redemptions of Common Stock
	The Company’s share redemption program provides that the Company’s board of directors must determine at the beginning of each fiscal year the maximum amount of shares that the Company may redeem during that year. The Company’s board of directors determined that no amounts were to be made available for redemption during the year ended December 31, 2013.
Earnings per share	'
	Earnings Per Share
	Earnings per share are calculated based on the weighted average number of common shares outstanding during each period presented. The weighted average number of common shares outstanding is identical for basic and fully diluted earnings per share. The Company has no stock options issued or outstanding.
Reportable segments	'
	Reportable Segments
	The Company’s operating segment consists of commercial properties, which include activities related to investing in real estate. The commercial properties are geographically diversified throughout the United States and have similar economic characteristics. The Company evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
Interest	'
	Interest
	Interest is charged to interest expense as it accrues. No interest costs were capitalized during the years ended December 31, 2013 or 2012.
Distributions payable and distribution policy	'
	Distributions Payable and Distribution Policy
	In order to maintain its status as a REIT, the Company is required to, among other things, make distributions each taxable year equal to at least 90% of its taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). To the extent that funds are available, the Company intends to pay regular distributions to stockholders. Distributions are paid to stockholders of record as of applicable record dates.
Recent accounting pronouncements	'
	Recent Accounting Pronouncements
	In February 2013, the U.S. Financial Accounting Standards Board issued Accounting Standards Update 2013-02 Comprehensive Income (Topic 220), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”), which amends the reporting requirements for comprehensive income pertaining to the reclassification of items out of accumulated other comprehensive income. ASU 2013-02 was effective for the Company beginning January 1, 2013. The adoption of ASU 2013-02 did not have a material impact on the Company’s consolidated financial statements because the Company did not have items of other comprehensive income.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Investment in and Valuation of Real Estate and Related Assets	'
	The estimated useful lives of the Company’s real estate assets by class are generally as follows:
	Buildings	40 years
	Tenant improvements	Lesser of useful life or lease term
	Intangible lease assets	Lease term

Real_Estate_Acquisitions_Table

Real Estate Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2013
Business Combinations [Abstract]	'
Schedule of purchase price allocation	'
	The Company allocated the purchase price of the 2013 Acquisitions to the fair value of the assets acquired. The following table summarizes the purchase price allocations (in thousands):
		December 31, 2013
	Land	$	1,158
	Building and improvements	4,723
	Acquired in-place leases	732
	Acquired above market leases	117
	Total purchase price	$	6,730
Business acquisition, pro forma information	'
	The table below presents the Company’s estimated revenue and net income, on a pro forma basis, for the years ended December 31, 2013 and 2012 (in thousands):
		Year Ended December 31,
	Pro forma basis (unaudited):	2013		2012
	Revenue	$	13,633	$	14,465
	Net income	$	1,358	$	4,039

Intangible_Lease_Assets_Tables

Intangible Lease Assets (Tables)	12 Months Ended
	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of finite-lived intangible assets	'
	Intangible lease assets consisted of the following (in thousands, except weighted average life amounts):
				As of December 31,
				2013			2012
	In-place leases, net of accumulated amortization of $12,765 and $11,297,
		respectively (with a weighted average life remaining of 7.4 and 7.1 years, respectively)		$	8,029		$	8,765
	Acquired above market leases, net of accumulated amortization of $56 and $45,
		respectively (with a weighted average life remaining of 9.8 and 5.8 years, respectively)		136			30
				$	8,165		$	8,795
Schedule of finite-lived intangible assets, future amortization expense	'
	Estimated amortization of the intangible lease assets as of December 31, 2013 for each of the five succeeding fiscal years is as follows (in thousands):
			Amortization of
	Year Ending December 31,		In-Place Leases			Above Market Leases
	2014		$	1,239		$	15
	2015		$	1,091		$	15
	2016		$	1,034		$	10
	2017		$	996		$	10
	2018		$	890		$	10

Notes_Payable_and_Lines_of_Cre1

Notes Payable and Lines of Credit Notes Payable and Lines of Credit (Tables)	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Schedule of maturities of long-term debt	'
	The following table summarizes the scheduled aggregate principal repayments for the five years subsequent to December 31, 2013 (in thousands):
	For the year ending December 31,	Principal Repayments
	2014	$	1,054
	2015	74,549
	2016	8,625
	2017	1,678
	2018	—
	Total	$	85,906

Acquired_Below_Market_Lease_In1

Acquired Below Market Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2013
Intangible Liabilities Disclosure [Abstract]	'
Schedule of finite-lived intangible liabilities	'
	Acquired below market lease intangibles consisted of the following (in thousands, except weighted average life amounts):
				As of December 31,
				2013		2012
	Acquired below market leases, net of accumulated amortization of $1,802 and
		$1,604, respectively (with a weighted average life remaining of 3.4 and 3.6 years, respectively)		$	395	$	593
Schedule of finite-lived intangible assets, future amortization expense	'
	Estimated amortization of the intangible lease liability as of December 31, 2013 for each of the five succeeding fiscal years is as follows (in thousands):
	Year Ending December 31,		Amortization of Below Market Leases
	2014		$	132
	2015		$	55
	2016		$	55
	2017		$	52
	2018		$	40

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
Schedule of dividends and distributions	'
	The following table shows the character of the distributions the Company paid on a percentage basis for the years ended December 31, 2013 and 2012:
		Year Ended December 31,
	Character of Distributions (unaudited):	2013		2012
	Ordinary dividends	45	%	38	%
	Capital gain distributions	—	%	43	%
	Nontaxable distributions	55	%	19	%
	Total	100	%	100	%

Operating_Leases_Tables

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2013
Leases [Abstract]	'
Schedule of future minimum rental payments for operating leases	'
	The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2013, is as follows (in thousands):
	Year Ending December 31,	Future Minimum Rental Income
	2014	$	12,679
	2015	12,003
	2016	11,641
	2017	11,333
	2018	10,493
	Thereafter	36,258
		$	94,407

Organization_and_Business_Deta

Organization and Business (Details)	12 Months Ended
	Dec. 31, 2013
Organization and business [Line Items]	'
Number of states in which entity owns properties (in number of states)	19
Percentage of rentable space leased	100.00%
Consolidated properties	'
Organization and business [Line Items]	'
Number of owned properties (in number of properties)	39
Rentable square feet (in square feet)	956,000
Cole Op I	'
Organization and business [Line Items]	'
General partner partnership interest percentage	100.00%

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Narative (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Valuation of real estate and related assets [Line Items]	'	'
Restricted cash	$2,327	$2,073
Amortization of deferred financing costs	555	514
Restricted cash	'	'
Valuation of real estate and related assets [Line Items]	'	'
Restricted cash	2,000	'
Restricted cash held by lenders in lockbox account	'	'
Valuation of real estate and related assets [Line Items]	'	'
Restricted cash	$284	'
Building	'	'
Valuation of real estate and related assets [Line Items]	'	'
Acquired real estate asset, useful life	'40 years	'

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Concentration of credit risk (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013
Concentration Risk [Line Items]	'
Cash on deposit, number of financial institutions which had deposits in excess of current federally insured limits (in financial institutions)	2
Credit concentration risk | Cash on deposit	'
Concentration Risk [Line Items]	'
Cash on deposit in excess of federally insured levels	$2.50
Customer concentration risk | Drugstore industry | Rental revenues	'
Concentration Risk [Line Items]	'
Cumulative number of tenants	3
Concentration risk, percentage for cumulative tenants	40.00%
Number of tenants	1
Concentration risk, percentage	26.00%
Customer concentration risk | Home and garden industry | Rental revenues	'
Concentration Risk [Line Items]	'
Cumulative number of tenants	3
Concentration risk, percentage for cumulative tenants	21.00%
Number of tenants	1
Concentration risk, percentage	13.00%
Customer concentration risk | Automotive industry | Rental revenues	'
Concentration Risk [Line Items]	'
Cumulative number of tenants	2
Concentration risk, percentage for cumulative tenants	11.00%
Number of tenants	1
Concentration risk, percentage	10.00%
Customer concentration risk | Electronics and appliances industry | Rental revenues	'
Concentration Risk [Line Items]	'
Cumulative number of tenants	2
Concentration risk, percentage for cumulative tenants	10.00%
Geographic concentration risk | Texas	'
Concentration Risk [Line Items]	'
Number of owned properties (in number of properties)	8
Geographic concentration risk | Georgia	'
Concentration Risk [Line Items]	'
Number of owned properties (in number of properties)	1
Geographic concentration risk | Rental revenues | Texas	'
Concentration Risk [Line Items]	'
Concentration risk, percentage	29.00%
Geographic concentration risk | Rental revenues | Georgia	'
Concentration Risk [Line Items]	'
Concentration risk, percentage	10.00%

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Notes payable and lines of credit, USD $)	Dec. 31, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Carrying value	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Notes payable and lines of credit	$85.90	$86.30
Fair value, inputs, level 2 | Estimate of fair value	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Notes payable and lines of credit	$88.60	$89.60

Real_Estate_Acquisitions_Detai

Real Estate Acquisitions (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
	Property
Business Acquisition [Line Items]	'	'
Number of properties sold (in properties)	0	'
Business Acquisition, Purchase Price Allocation [Abstract]	'	'
Acquisition related expenses	$325,000	$0
2012 dispositions	'	'
Business Acquisition [Line Items]	'	'
Number of properties sold (in properties)	'	5
2013 Acquisitions	'	'
Business Acquisition [Line Items]	'	'
Business acquisition, percentage of voting interests acquired	100.00%	'
Number of businesses acquired (in properties)	3	'
Aggregate purchase price	6,700,000	'
Business Acquisition, Purchase Price Allocation [Abstract]	'	'
Land	1,158,000	'
Buildings and improvements	4,723,000	'
Total purchase price	6,730,000	'
Revenue since acquisition date	453,000	'
Net loss since acquisition date	52,000	'
Acquisition related expenses	325,000	'
Business Acquisition, Pro Forma Information [Abstract]	'	'
Revenue	13,633,000	14,465,000
Net income	1,358,000	4,039,000
Acquired in-place leases | 2013 Acquisitions	'	'
Business Acquisition, Purchase Price Allocation [Abstract]	'	'
Acquired finite-lived intangible asset - leases, amount	732,000	'
Acquired above market leases | 2013 Acquisitions	'	'
Business Acquisition, Purchase Price Allocation [Abstract]	'	'
Acquired finite-lived intangible asset - leases, amount	$117,000	'

Intangible_Lease_Assets_Detail

Intangible Lease Assets (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Finite-Lived Intangible Assets, Net [Abstract]	'	'
Finite-lived intangible assets, net	$8,165	$8,795
Finite-lived intangible assets, accumulated amortization	12,821	11,342
In-place leases	'	'
Finite-Lived Intangible Assets, Net [Abstract]	'	'
Finite-lived intangible assets, net	8,029	8,765
Finite-lived intangible assets, accumulated amortization	12,765	11,297
Finitel-lived intangible asset, useful life	'7 years 4 months 24 days	'7 years 1 month 6 days
Amortization of intangible assets	1,500	1,500
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]	'	'
2014	1,239	'
2015	1,091	'
2016	1,034	'
2017	996	'
2018	890	'
Above market leases	'	'
Finite-Lived Intangible Assets, Net [Abstract]	'	'
Finite-lived intangible assets, net	136	30
Finite-lived intangible assets, accumulated amortization	56	45
Finitel-lived intangible asset, useful life	'9 years 9 months 18 days	'5 years 9 months 18 days
Amortization of intangible assets	11	6
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]	'	'
2014	15	'
2015	15	'
2016	10	'
2017	10	'
2018	$10	'

Discontinued_Operations_Detail

Discontinued Operations (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
	Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Number of properties sold (in properties)	0	'
Gain on sale of real estate assets	$0	$3,715,000
2012 sold properties	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Number of properties sold (in properties)	'	5
Aggregate sales price	'	23,000,000
Mortgage loans assumed by buyer	'	14,900,000
Discontinued operations, net cash proceeds	'	7,400,000
Gain on sale of real estate assets	'	3,700,000
Discontinued operation, revenue	'	977,000
Real estate assets	'	18,500,000
Deferred financing costs written-off as a reduction in the gain on sale	'	$91,000

Notes_Payable_and_Lines_of_Cre2

Notes Payable and Lines of Credit (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]	'	'
Mortgage notes payable and line of credit borrowings	$85,900,000	'
Due to Related Parties	300,000	0
Repayment of notes payable	716,000	8,255,000
Assets Securing Debt	156,400,000	'
Mortgage note outstanding	85,606,000	86,322,000
Long-term Debt, Fiscal Year Maturity [Abstract]	'	'
2014	1,054,000	'
2015	74,549,000	'
2016	8,625,000	'
2017	1,678,000	'
2018	0	'
Total	85,906,000	'
Fixed rate debt	'	'
Debt Instrument [Line Items]	'	'
Mortgage notes payable and line of credit borrowings	79,600,000	'
Debt, weighted average interest rate	6.53%	'
Debt instrument, weighted average years to maturity	'1 year 6 months	'
Repayment of notes payable	716,000	'
Fixed rate debt | Minimum	'	'
Debt Instrument [Line Items]	'	'
Fixed rate debt, interest rate	5.27%	'
Fixed rate debt | Maximum	'	'
Debt Instrument [Line Items]	'	'
Fixed rate debt, interest rate	6.96%	'
Long-term debt, percentage bearing variable interest, amount [Member]	'	'
Debt Instrument [Line Items]	'	'
Mortgage notes payable and line of credit borrowings	6,000,000	'
Variable rate debt, interest rate	2.54%	'
Lines of credit | Revolving credit facility | Cole advisors	'	'
Debt Instrument [Line Items]	'	'
Due to Related Parties	300,000	'
Number of credit facilities (in number of credit facilities)	2	'
Fixed rate debt, interest rate	5.75%	'
Line of credit facility, current borrowing capacity	2,900,000	'
Mortgages	'	'
Debt Instrument [Line Items]	'	'
Term of extension period of maturity date	'20 years	'
Hyper-amortization period, percent of rents applied	100.00%	'
Percentage over initial fixed interest rate	2.00%	'
Mortgage note outstanding	$4,300,000	'
Mortgages | Minimum | Current treasury constant maturity yield index	'	'
Debt Instrument [Line Items]	'	'
Debt instrument, basis spread on variable rate	2.00%	'

Acquired_Below_Market_Lease_In2

Acquired Below Market Lease Intangibles (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Finite-Lived Intangible Liabilities, Net [Abstract]	'	'
Amortization of intangible liabilities	$198	$198
Acquired below market leases	'	'
Finite-Lived Intangible Liabilities, Net [Abstract]	'	'
Acquired below-market leases, net of accumulated amortization	395	593
Accumulated amortization	1,802	1,604
Useful life	'3 years 4 months 24 days	'3 years 7 months 6 days
Finite-Lived Intangible Liabilities, Net, Amortization Expense, Fiscal Year Maturity [Abstract]	'	'
2014	132	'
2015	55	'
2016	55	'
2017	52	'
2018	$40	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	12 Months Ended
	Dec. 31, 2013
	lease_amendment
Operating Leased Assets [Line Items]	'
Number of lease amendments	2
Lease amendment, obligation to fund capital improvements, amount	$1,100,000
Lease amendment, payments for capital improvements	$324,000
Minimum	'
Operating Leased Assets [Line Items]	'
Lease amendment, term	'5 years
Maximum	'
Operating Leased Assets [Line Items]	'
Lease amendment, term	'10 years

RelatedParty_Transactions_and_1

Related-Party Transactions and Arrangements (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]	'	'
Due to affiliates	$39,000	$32,000
Acquisition related expenses	325,000	0
Due to Related Parties	300,000	0
Interest expense, net	6,056,000	6,242,000
Advisors	'	'
Related Party Transaction [Line Items]	'	'
Cumulative noncompounded annual return	7.50%	'
Advisors | Lines of credit | Revolving credit facility	'	'
Related Party Transaction [Line Items]	'	'
Number of credit facilities (in number of credit facilities)	2	'
Fixed rate debt, interest rate	5.75%	'
Interest expense, net	5,000	84,000
Advisors | Listing commission	'	'
Related Party Transaction [Line Items]	'	'
Commissions performance and other fees percent	20.00%	'
Cole advisors | Lines of credit | Revolving credit facility	'	'
Related Party Transaction [Line Items]	'	'
Due to Related Parties	300,000	'
Number of credit facilities (in number of credit facilities)	2	'
Line of credit facility, remaining borrowing capacity	2,600,000	'
Fixed rate debt, interest rate	5.75%	'
Financing coordination fees | Advisors	'	'
Related Party Transaction [Line Items]	'	'
Finance coordination fee percent	1.00%	'
Finance coordination fee, amount	0	60,000
Property management and leasing fees and expense | Cole realty advisors, inc.	'	'
Related Party Transaction [Line Items]	'	'
Property and asset management fees percent	3.00%	'
Related party transaction, expenses from transactions with related party	401,000	417,000
Due to affiliates	39,000	32,000
Property management and leasing fees and expense | Cole realty advisors, inc. | Discontinued operations	'	'
Related Party Transaction [Line Items]	'	'
Related party transaction, expenses from transactions with related party	'	38,000
Property management and leasing fees and expense | Cole realty advisors, inc. | Maximum	'	'
Related Party Transaction [Line Items]	'	'
Amount per square foot of the total leased obligation (in usd per square foot)	4.5	'
Percent of the total lease obligation	7.50%	'
Acquisition fees and expenses | Advisors	'	'
Related Party Transaction [Line Items]	'	'
Acquisition related expenses	$202,000	$0
Acquisition fees and expenses | Cole realty advisors, inc. | Maximum | Contract purchase price of each asset	'	'
Related Party Transaction [Line Items]	'	'
Acquisition and advisory fee	3.00%	'
Monthly asset management fees and expenses | Advisors | Maximum	'	'
Related Party Transaction [Line Items]	'	'
Asset based related party fee percent	0.25%	'
Property sales commission | Advisors | Contract sale price of each property	'	'
Related Party Transaction [Line Items]	'	'
Commissions performance and other fees percent	3.00%	'
Remaining net sale proceeds | Advisors	'	'
Related Party Transaction [Line Items]	'	'
Commissions performance and other fees percent	20.00%	'

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Equity, Class of Treasury Stock [Line Items]	'	'
Common stock, shares authorized	90,000,000	90,000,000
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$0.01	$0.01
Stock redemption program, annual cash flow limitation percentage	1.00%	'
Stock redemption program, amount per share	$5.90	'
Share price	$6.55	'
Stock redemption program, required holding period	'1 year	'
Stock redemption program, minimum redemption shares	2,500	'
Stock repurchase program, minimum retained shares	2,500	'
Option (i) eight dollars and fifty cents per share | Maximum	'	'
Equity, Class of Treasury Stock [Line Items]	'	'
Stock redemption program, amount per share	$8.50	'
Option (ii) ninety percent of the net asset value per share as determined by the board of directors | Maximum	'	'
Equity, Class of Treasury Stock [Line Items]	'	'
Stock repurchase program, percentage of the net asset value per share as determined by the board of directors	90.00%	'
Common Stock	'	'
Equity, Class of Treasury Stock [Line Items]	'	'
Stock redeemed or called during period, shares	248,000	'
Stock redeemed or called during period, value	$1.60	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]	'	'
Ordinary dividends	45.00%	38.00%
Capital gain distributions	0.00%	43.00%
Nontaxable distributions	55.00%	19.00%
Total	100.00%	100.00%
Property, plant and equipment, land and real estate assets, net tax basis	$144,300,000	$140,300,000
State and local income tax and franchise tax expense (benefit), continuing operations	$118,000	$97,000

Operating_Leases_Details

Operating Leases (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Leases [Abstract]	'
2014	$12,679
2015	12,003
2016	11,641
2017	11,333
2018	10,493
Thereafter	36,258
Total	$94,407

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2013	Mar. 17, 2014	Dec. 31, 2013
		Revolving credit facility	Subsequent event	Subsequent event
		Cole advisors	Merger of the CCPT, ARCP and Desert Merger Sub	Revolving credit facility
		Lines of credit		Cole advisors
				Lines of credit
Subsequent Event [Line Items]	'	'	'	'
Share price	$6.55	'	$7.25	'
Line of credit facility, current borrowing capacity	'	$2,900,000	'	$2,900,000
Business combination, termination fee	'	'	1,463,000	'
Business combination, termination expense reimbursement	'	'	$500,000	'
Business combination, minimum ownership percentage before irrevocable option to purchase additional shares	'	'	90.00%	'