Gramercy Property Trust 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 04, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	CHAMBERS STREET PROPERTIES
Entity Central Index Key	1,297,587
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		236,855,738

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investments in Real Estate:
Land	$ 617,867	$ 630,840
Land Available for Expansion	24,218	23,368
Buildings and Improvements	1,652,766	1,674,955
Gross investments in Real Estate	2,294,851	2,329,163
Less: Accumulated Depreciation and Amortization	(284,579)	(239,973)
Net Investments in Real Estate	2,010,272	2,089,190
Investments in Unconsolidated Entities	385,220	423,693
Cash and Cash Equivalents	53,955	40,139
Restricted Cash	18,909	14,718
Tenant and Other Receivables, Net	11,553	11,216
Deferred Rent	45,072	39,429
Deferred Leasing Costs and Intangible Assets, Net	194,109	220,490
Deferred Financing Costs, Net	7,237	9,321
Prepaid Expenses and Other Assets	19,963	21,612
Total Assets	2,746,290	2,869,808
LIABILITIES
Secured Notes Payable, Net	478,739	610,608
Unsecured Term Loan Facilities	570,000	570,000
Unsecured Revolving Credit Facility	290,044	200,044
Accounts Payable, Accrued Expenses and Other Liabilities	86,352	76,421
Intangible Liabilities, Net	21,759	26,248
Prepaid Rent and Security Deposits	16,255	15,569
Distributions Payable	10,117	9,951
Total Liabilities	$ 1,473,266	$ 1,508,841
COMMITMENTS AND CONTINGENCIES (NOTE 13)
SHAREHOLDERS' EQUITY
Common Shares of Beneficial Interest, $0.01 par value, 990,000,000 shares authorized; 236,855,738 and 236,920,675 issued and outstanding as of September 30, 2015 and December 31, 2014, respectively	$ 2,366	$ 2,364
Additional Paid-in-Capital	2,074,326	2,071,526
Accumulated Deficit	(758,611)	(689,654)
Accumulated Other Comprehensive Loss	(45,057)	(23,269)
Total Shareholders' Equity	1,273,024	1,360,967
Total Liabilities and Shareholders' Equity	$ 2,746,290	$ 2,869,808

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common shares, par value (in usd per share)	$ 0.01	$ 0.01
Common Shares of Beneficial Interest, shares authorized	990,000,000	990,000,000
Common Shares of Beneficial Interest, issued	236,855,738	236,920,675
Common Shares of Beneficial Interest, outstanding	236,855,738	236,920,675

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES
Rental	$ 54,915	$ 52,391	$ 166,020	$ 156,300
Tenant Reimbursements	15,646	15,219	46,917	45,034
Other Property Income	1,072	537	1,520	1,606
Total Revenues	71,633	68,147	214,457	202,940
EXPENSES
Property Operating	8,488	9,113	26,404	27,058
Real Estate Taxes	10,694	9,927	32,050	30,193
General and Administrative	9,935	7,230	31,505	20,047
Acquisition-Related	0	265	0	555
Depreciation and Amortization	28,489	27,208	84,342	81,572
Total Expenses	57,606	53,743	174,301	159,425
Income Before Other (Expenses) Income	14,027	14,404	40,156	43,515
OTHER EXPENSES AND INCOME
Interest and Other Income	52	255	144	573
Interest Expense	(12,352)	(13,685)	(38,397)	(41,653)
Interest Expense and Net Change in Fair Value of Non-Qualifying Derivative Financial Instruments	23	68	66	80
Gain on Sale of Real Estate	0	13,175	5,844	13,175
Total Other Expenses	(12,277)	(187)	(32,343)	(27,825)
Income Before Provision for Income Taxes and Equity in Income of Unconsolidated Entities	1,750	14,217	7,813	15,690
Benefit (Provision) For Income Taxes	42	(140)	(521)	(579)
Equity in Income of Unconsolidated Entities	4,238	4,391	14,419	11,829
NET INCOME	$ 6,030	$ 18,468	$ 21,711	$ 26,940
Net Income per Share (in usd per share)	$ 0.03	$ 0.08	$ 0.09	$ 0.11
Weighted Average Common Shares Outstanding - Basic (in shares)	236,902,841	236,954,218	236,915,614	236,847,551
Weighted Average Common Shares Outstanding - Diluted (in shares)	236,913,294	236,954,218	236,951,537	236,847,551
Dividends declared per Common Share (in usd per share)	$ 0.128	$ 0.126	$ 0.384	$ 0.378000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 6,030	$ 18,468	$ 21,711	$ 26,940
Foreign Currency Translation Loss	(1,586)	(15,946)	(12,573)	(13,793)
Swap Fair Value Adjustments	(6,549)	3,805	(9,215)	(4,086)
COMPREHENSIVE (LOSS) INCOME	$ (2,105)	$ 6,327	$ (77)	$ 9,061

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 21,711	$ 26,940
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Equity in Income of Unconsolidated Entities	(14,419)	(11,829)
Distributions from Unconsolidated Entities	32,061	36,891
Gain on Interest Rate Swaps	(66)	(80)
Gain on Sale of Real Estate	(5,844)	(13,175)
Prepaid Tenant Improvement Amortization	(1,097)	(1,085)
Lease Inducement Amortization	758	338
Depreciation and Amortization	84,342	81,572
Amortization of Non-Cash Interest Expense	(1,656)	(660)
Amortization of Above and Below Market Leases	2,932	4,056
Share-Based Compensation	5,285	3,452
Straight-Line Rent Adjustment	(5,847)	(4,641)
Changes in Operating Assets and Liabilities:
Tenant and Other Receivables	(341)	(3,760)
Prepaid Expenses and Other Assets	(605)	(2,196)
Accounts Payable, Accrued Expenses and Other Liabilities	3,766	7,024
Net Cash Flows Provided by Operating Activities	120,980	122,847
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of Real Property	(1,715)	(55,424)
Proceeds from Sale of Real Estate	55,119	61,100
Investments in Unconsolidated Entities	0	(7,624)
Distributions from Unconsolidated Entities	8,793	22,469
Restricted Cash	(3,693)	864
Lease Commissions	(11,339)	(3,210)
Improvements to Investments in Real Estate	(22,386)	(7,125)
Net Cash Flows Provided by Investing Activities	24,779	11,050
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase and Cancellation of Vested Shares	(3,270)	(747)
Payment of Distributions	(90,502)	(89,516)
Borrowings on Unsecured Revolving Credit Facility	90,000	10,000
Principal Payments on Unsecured Revolving Credit Facility	0	(10,000)
Principal Payments on Secured Notes Payable	(128,129)	(67,329)
Payment of Financing Costs	0	(464)
Net Cash Flows (Used in) Provided by Financing Activities	(131,901)	(158,056)
EFFECT OF FOREIGN CURRENCY TRANSLATION	(42)	(302)
Net Increase (Decrease) in Cash and Cash Equivalents	13,816	(24,461)
Cash and Cash Equivalents, Beginning of the Period	40,139	83,007
Cash and Cash Equivalents, End of the Period	53,955	58,546
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash Paid During the Period for Interest	40,135	42,203
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Distributions Declared and Payable	10,117	9,951
Accounts Payable and Accrued Expenses	4,321	563
Notes Payable Assumed on Acquisitions of Real Estate	0	20,611
Incentive to Lessee	$ 658	$ 316

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Shares	Additional Paid-in-Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Balance, Shares at Dec. 31, 2013		236,463,981
Balance at Dec. 31, 2013	$ 1,484,650	$ 2,359	$ 2,067,008	$ (589,313)	$ 4,596
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	26,940			26,940
Other Comprehensive Loss	(17,879)				(17,879)
Share Based Compensation, Shares		555,508
Share-Based Compensation	3,452	$ 4	3,448
Repurchase and Cancellation of Vested Shares, Shares		(95,313)
Repurchase and Cancellation of Vested Shares	(747)	$ (1)	(746)
Distributions, $0.384 and $0.378 for 2015 and 2014 respectively	(89,536)			(89,536)
Balance, Shares at Sep. 30, 2014		236,924,176
Balance at Sep. 30, 2014	$ 1,406,880	$ 2,362	2,069,710	(651,909)	(13,283)
Balance, Shares at Dec. 31, 2014	236,920,675	236,920,675
Balance at Dec. 31, 2014	$ 1,360,967	$ 2,364	2,071,526	(689,654)	(23,269)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	21,711			21,711
Other Comprehensive Loss	(21,788)				(21,788)
Share Based Compensation, Shares		348,798
Share-Based Compensation	6,072	$ 6	6,066
Repurchase and Cancellation of Vested Shares, Shares		(413,735)
Repurchase and Cancellation of Vested Shares	(3,270)	$ (4)	(3,266)
Distributions, $0.384 and $0.378 for 2015 and 2014 respectively	$ (90,668)			(90,668)
Balance, Shares at Sep. 30, 2015	236,855,738	236,855,738
Balance at Sep. 30, 2015	$ 1,273,024	$ 2,366	$ 2,074,326	$ (758,611)	$ (45,057)

Consolidated Statements of Equ8

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Stockholders' Equity [Abstract]
Distributions declared	$ 0.128	$ 0.126	$ 0.384	$ 0.378000

Organization and Nature of Busi

Organization and Nature of Business	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	Organization and Nature of Business Chambers Street Properties (NYSE: CSG) is a self-administered real estate investment trust ("REIT") focused on acquiring, owning and managing net leased industrial and office properties leased to creditworthy tenants. We were formed under the laws of the state of Maryland on March 30, 2004, and have elected to be taxed as a REIT under sections 856 through 860 of the Internal Revenue Code of 1986 (the "Internal Revenue Code") beginning with the taxable period ended December 31, 2004. On July 1, 2015, we entered into an Agreement and Plan of Merger with Gramercy Property Trust Inc. ("Gramercy") (See Note 13 ). We operate in an umbrella partnership REIT structure in which our operating partnership, CSP Operating Partnership, LP ("CSP OP"), indirectly owns substantially all of the properties acquired on our behalf. CSP OP was formed in Delaware on March 30, 2004, and we are the 100% direct and indirect owner and sole general partner. For each interest in our common shares of beneficial interest $0.01 par value (the "common shares"), that we issue, an equal interest in the limited partnership units of CSP OP is issued to us in exchange for the cash proceeds from the issuance of the interest in our common shares. As of September 30, 2015 , we owned 100% of the limited partnership units of CSP OP directly or indirectly through a wholly-owned taxable REIT subsidiary. However, in connection with the proposed merger with Gramercy such subsidiary will cease to be a taxable REIT subsidiary and will become disregarded as an entity separate from us for U.S. federal income tax purposes. As of September 30, 2015 , we owned, on a consolidated basis, 100 industrial (primarily warehouse/distribution) and office properties located in 18 U.S. states ( Arizona, California, Colorado, Florida, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Minnesota, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Texas and Virginia ) and in the United Kingdom, encompassing approximately 24.9 million rentable square feet. Our consolidated properties were approximately 97.6% leased (based upon rentable square feet) as of September 30, 2015 . As of September 30, 2015 , 76 of our consolidated properties were net leased to single tenants, which encompassed approximately 20.2 million rentable square feet. We had ownership interests in four unconsolidated entities that, as of September 30, 2015 , owned interests in 27 properties. Excluding those properties owned through our investment in CB Richard Ellis Strategic Partners Asia II-A, L.P. ("CBRE Strategic Partners Asia"), we owned, on an unconsolidated basis, 25 industrial (primarily warehouse/distribution) and office properties located in seven U.S. states ( Arizona, Florida, Illinois, Indiana, Ohio, Tennessee and Texas ) and three countries in Europe (France, Germany and the United Kingdom), encompassing approximately 12.3 million rentable square feet. Our unconsolidated properties were approximately 99.9% leased (based upon rentable square feet) as of September 30, 2015 . As of September 30, 2015 , 20 of our unconsolidated properties were net leased to single tenants, which encompassed approximately 11.5 million rentable square feet. Unless the context otherwise requires or indicates, references to the "Company," "we," "our" and "us" refer to the activities of and the assets and liabilities of the business and operations of Chambers Street Properties and its subsidiaries. References to unconsolidated properties include properties owned through unconsolidated joint ventures and do not include properties owned by CBRE Strategic Partners Asia. See Note 4 "Investments in Unconsolidated Entities."

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") and reflect the accounts of the Company, CSP OP and its consolidated subsidiaries. The Company consolidates its wholly-owned properties and joint ventures it controls through either 1) voting rights or similar rights or 2) by means other than voting rights if the Company is deemed to be the primary beneficiary of a variable interest entity. All intercompany accounts and transactions are eliminated in consolidation. Certain information and footnotes required for annual financial statement presentation have been condensed or excluded pursuant to Securities and Exchange Commission (the "SEC") rules and regulations. Accordingly, our interim financial statements do not include all of the information and disclosures required under GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary in all material respects to present fairly our financial position, results of our operations and cash flows as of and for the three and nine months ended September 30, 2015 have been made. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the results of operations to be expected for the entire year. The consolidated financial statements and notes thereto should be read in conjunction with our current Annual Report on Form 10-K, which contains the latest available audited consolidated financial statements and notes thereto, which are as of and for the year ended December 31, 2014 . Use of Estimates The preparation of financial statements, in conformity with GAAP, requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Segment Information We currently operate our consolidated properties in two geographic areas, the United States and the United Kingdom. We view our consolidated property operations as two reportable segments, Industrial Properties and Office Properties, which participate in the acquisition, development, ownership, and operation of high quality real estate in their respective segments. Revenue Recognition and Valuation of Receivables All leases are classified as operating leases and minimum rents are recognized on a straight-line basis over the terms of the leases. The excess of rents recognized over amounts contractually due pursuant to the underlying leases is recorded as deferred rent. In connection with various leases, we have received irrevocable stand-by letters of credit totaling $20.6 million and $20.3 million as security for such leases at September 30, 2015 and December 31, 2014 , respectively. Reimbursements from tenants, consisting of amounts due from tenants for common area maintenance, real estate taxes, insurance and other recoverable costs, are recognized as revenue in the period the expenses are incurred. Tenant reimbursements are recognized and presented on a gross basis, when we are the primary obligor with respect to incurring expenses and with respect to having the credit risk. Tenant receivables and deferred rent receivables are carried net of the allowances for uncollectible current tenant receivables and deferred rent. Management's determination of the adequacy of these allowances is based primarily upon evaluations of historical loss experience, individual receivables, current economic conditions, and other relevant factors. The allowances are increased or decreased through the provision for bad debts. The allowance for uncollectible rent receivable was $108,000 and $62,000 as of September 30, 2015 and December 31, 2014 , respectively. Translation of Non-U.S. Currency Amounts The financial statements and transactions of our United Kingdom properties are recorded in their functional currency, namely the Great Britain Pound ("GBP") and are then translated into U.S. dollars ("USD"). Assets and liabilities of these properties are denominated in the functional currency and are then translated at exchange rates in effect at the balance sheet date. Revenues and expenses are translated at the average exchange rate for the reporting period. Translation adjustments are reported in "Accumulated Other Comprehensive Income (Loss)," a component of Shareholders' Equity. The carrying value of our United Kingdom assets and liabilities fluctuate due to changes in the exchange rate between the USD and the GBP. The exchange rate of the USD to the GBP was $1.5129 and $1.5576 at September 30, 2015 and December 31, 2014 , respectively. The profit and loss average exchange rate of the USD to the GBP was approximately $1.5559 and $1.6862 for the three months ended September 30, 2015 and 2014 , respectively; and $1.5354 and $1.6737 for the nine months ended September 30, 2015 and 2014 , respectively. The carrying value of our assets and liabilities held within our joint venture in Europe (the "European JV") fluctuate due to changes in the exchange rate between the USD and the Euro ("EUR"). The exchange rate of the USD to the EUR was $1.1178 and $1.2099 at September 30, 2015 and December 31, 2014 . The profit and loss average exchange rate of the USD to the EUR was approximately $1.1114 and $1.3402 for the three months ended September 30, 2015 and 2014 , respectively; and $1.1197 and $1.3611 for the nine months ended September 30, 2015 and 2014 , respectively. Income Taxes We elected to be taxed as a REIT under the Internal Revenue Code commencing with our taxable year ended December 31, 2004. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we generally distribute at least 90% of our REIT taxable income (determined without regard to the dividends paid deduction and excluding net capital gain). It is our current intention to adhere to these requirements and maintain our REIT qualification. As a REIT, we generally will not be subject to corporate level U.S. federal income tax on net income we distribute to our shareholders. If we fail to qualify as a REIT in any taxable year, then we will be subject to U.S. federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. We believe that we have met all the REIT organizational and operational requirements for the nine months ended September 30, 2015 , and we were not subject to any U.S. federal income taxes, other than U.S. federal income taxes on income generated by our Taxable REIT Subsidiary. As such, we have not provided for income taxes other than as addressed below. ASC 740-10 Income Taxes requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary difference, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. No deferred tax assets or liabilities were recorded as of September 30, 2015 , other than as mentioned below related to the United Kingdom net operating losses. In addition, we believe that any current or deferred tax liability associated with our Taxable REIT Subsidiary would be de minimus . We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. We did not have any uncertain tax positions which would require us to record any unrecognized tax benefits or additional tax liabilities as of September 30, 2015 . Even if we qualify for taxation as a REIT, we may be subject to certain state, foreign, and local taxes on our income and property and to U.S. federal income and excise taxes on our undistributed taxable income, if any. Included as a component of our tax (benefit) provision, we have incurred income and other taxes (franchise, local and state government and international) related to our continuing operations in the amount of $(42,000) and $140,000 during the three months ended September 30, 2015 and 2014 , respectively; and $521,000 and $579,000 for the nine months ended September 30, 2015 and 2014 , respectively. The United Kingdom taxes real property operating results at a statutory rate of 20% . The properties we own (or hold interest in) in the United Kingdom have operated at a taxable loss to date and have generated a deferred tax asset of approximately $0.3 million consisting of these net operating loss carryforwards. We have provided for a full valuation allowance of $0.3 million as of September 30, 2015 on deferred tax assets because it is not likely that future operating profits in the United Kingdom would be sufficient to absorb the net operating losses. The tax years from 2010 through 2014 remain open to examination by the taxing jurisdictions to which the Company is subject. Fair Value of Financial Instruments and Investments We generally determine or calculate the fair value of financial instruments using appropriate present value or other valuation techniques, such as discounted cash flow analyses, incorporating available market discount rate information for similar types of instruments and our estimates for non-performance and liquidity risk. These techniques are significantly affected by the assumptions used, including the discount rate, credit spreads, and estimates of future cash flow. The Investment Manager of CBRE Strategic Partners Asia applies valuation techniques for our investment carried at fair value based upon the application of the income approach, the direct market comparison approach, the replacement cost approach or third party appraisals to the underlying assets held in the unconsolidated entity in determining the net asset value attributable to our ownership interest therein. As of September 30, 2015 , the financial assets and liabilities recorded at fair value in our consolidated financial statements are our derivative instruments and our investment in CBRE Strategic Partners Asia. The remaining financial assets and liabilities which are only disclosed at fair value are comprised of all other notes payable, the unsecured line of credit and other debt instruments. We determined the fair value of our secured notes payable and other debt instruments by performing discounted cash flow analyses using an appropriate market discount rate. We calculate the market discount rate by obtaining period-end treasury rates for fixed-rate debt, or London Inter-Bank Offering Rate ("LIBOR") rates for variable-rate debt, for maturities that correspond to the maturities of our debt and then adding an appropriate credit spread derived from information obtained from third-party financial institutions. These credit spreads take into account factors such as our credit standing, the maturity of the debt, whether the debt is secured or unsecured, and the loan-to-value ratios of the debt. The carrying amounts of our cash and cash equivalents, restricted cash, tenant and other receivables and accounts payable approximate fair value due to their short-term maturities. Share-based Compensation For share-based awards for which there is no pre-established performance period, we recognize compensation costs over the service vesting period, which represents the requisite service period, on a straight-line basis. For share-based awards with service or market conditions, we record the cost of the awards based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award. No compensation cost is recognized for equity instruments for which employees do not render the requisite service. For share-based awards in which the performance period precedes the grant date, we recognize compensation costs straight-lined over the requisite service period, which includes both the performance and service vesting periods. During the performance period for a share-based award program, we estimate the total compensation cost of the potential future awards. We then record compensation costs equal to the portion of the requisite service period that has elapsed through the end of the reporting period. For share-based awards granted by the Company, CSP OP issues a number of common units equal to the number of common shares ultimately granted by us in respect of such awards. Reclassifications We have reclassified certain amounts in our previously issued consolidated statements of cash flows to conform to current period presentation. On our September 30, 2014 statement of cash flows, we reclassified $1.1 million and $0.4 million from "Accounts Payable, Accrued Expenses and Other Liabilities" and "Prepaid Expenses and Other Assets," respectively, to "Prepaid Tenant Improvement Amortization" and "Lease Inducement Amortization", respectively, which represent newly created line items. None of the reclassifications reflect corrections to any amounts. New Accounting Standards In January 2015, the FASB issued ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items . The ASU is a part of the Simplification Initiative, to identify, evaluate, and improve areas of generally accepted accounting principles (GAAP) for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to the users of financial statements. The new standard eliminates the requirements for reporting entities to consider whether an underlying event or transaction is extraordinary but retains the presentation and disclosure guidance for items that are unusual in nature and occur infrequently. The ASU applies to all entities and is effective for fiscal years beginning after December 15, 2015, and interim periods thereafter, with early adoption permitted. The adoption of this guidance is not anticipated to have a material impact on our consolidated financial statements or notes to our consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidated (Topic 810): Amendments to the Consolidation Analysis . The ASU changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. Key amendments under the new standard include the following: evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; elimination of the presumption that a general partner should consolidate a limited partnership; consolidation analysis of reporting entities that are involved with variable interest entities (VIEs), particularly those that have fee arrangements and related party relationship; addition of scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements similar to those for registered money market funds. The ASU applies to all reporting entities that are required to evaluate whether they should consolidate certain legal entities and is effective for fiscal years beginning after December 15, 2015, and interim periods thereafter, with early adoption permitted. We are still assessing the impact of this guidance on our consolidated financial statements and notes to our consolidated financial statements. In April 7, 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . This ASU addresses balance sheet presentation requirements for debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding debt liability. This will make the presentation of debt issuance costs consistent with the presentation of debt discounts or premiums. The recognition and measurement guidance for debt issuance costs is not affected. The guidance is effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. For all other entities, it is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. Upon adoption, an entity must apply the new guidance retrospectively to all prior periods presented in the financial statements. An entity is also required in the year of adoption (and in interim periods within that year) to provide certain disclosures about the change in accounting principle, including the nature of and reason for the change, the transition method, a description of the prior-period information that has been retrospectively adjusted and the effect of the change on the financial statement line items (that is, debt issuance cost asset and the debt liability). We are still assessing the impact of this guidance on our consolidated financial statements and notes to our consolidated financial statements. In July 2015, the FASB deferred the effective date of ASU No. 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including the guidance on real estate derecognition for most transactions. Entities have the option of using either a full retrospective or a modified approach to adopt the guidance in ASU 2014-09. For public entities, the ASU is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2017, with early adoption permitted. We are assessing the impact of this guidance on our consolidated financial statements and notes to our consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805) . This ASU requires an acquirer in a business combination to recognize adjustments to estimated amounts identified during the measurement period in the reporting period in which the adjustment amounts are determined. The acquirer must record the effect of the adjustments on earnings as if the accounting had been completed at the acquisition date and the acquirer must disclose in its financial statements the portion of the amounts recorded in each line item of current-period earnings that would have been recorded in previous periods if the adjustments to estimated amounts had been recognized as of the acquisition date. For public entities, this guidance is effective for fiscal years beginning after December 15, 2015, including interim periods with those fiscal years, with early adoption permitted. Application of the guidance is prospective. We are still assessing the impact of this guidance on our consolidated financial statements and notes to our consolidated financial statements.

Investment in Real Estate Activ

Investment in Real Estate Activity	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Investment in Real Estate Activity	Investment in Real Estate Activity Wholly-Owned Acquisitions During the nine months ended September 30, 2015 , we acquired an 11.8 acre undeveloped parcel in Phoenix, Arizona for approximately $1.7 million . The undeveloped parcel is situated immediately adjacent to our Goodyear Crossing II property. Dispositions During the nine months ended September 30, 2015 , we completed the sale of 300 Constitution Drive, a 330,000 square foot distribution warehouse located in Boston, Massachusetts. The industrial property was sold for a gross sales price of $20.3 million , resulting in a gain of approximately $3.5 million , after closing and other transaction related costs. We also completed the sale of 225 Summit Avenue, a 142,500 square foot office building located in Northern New Jersey. The office property was sold for a gross sales price of $37.0 million , resulting in a gain of approximately $2.3 million , after closing and other transaction related costs.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities As of September 30, 2015 and December 31, 2014 , we owned the following number of properties through unconsolidated entities: Ownership % Number of Properties September 30, December 31, 2015 2014 Duke JV 80.0% 13 14 European JV 80.0% 9 9 UK JV 80.0% 3 3 CBRE Strategic Partners Asia 5.07% 2 3 27 29 Investments in unconsolidated entities at September 30, 2015 and December 31, 2014 consist of the following (in thousands): September 30, December 31, 2015 2014 Duke JV $ 221,716 $ 239,376 European JV 127,135 144,141 UK JV 31,175 33,189 Afton Ridge — 117 CBRE Strategic Partners Asia 5,194 6,870 $ 385,220 $ 423,693 The following is a summary of the investments in unconsolidated entities for the nine months ended September 30, 2015 and the year ended December 31, 2014 (in thousands): September 30, December 31, 2015 2014 Investment Balance, January 1 $ 423,693 $ 514,802 Contributions — 7,625 Company's Equity in Net Income (including adjustments for basis differences) 14,419 28,823 Other Comprehensive Loss of Unconsolidated Entities (12,038 ) (22,342 ) Distributions (40,854 ) (105,215 ) Investment Balance, End of Period $ 385,220 $ 423,693 The following are the balance sheets of our investments in unconsolidated entities at September 30, 2015 (in thousands): Duke JV European JV Other (2) Total Assets Investments in Real Estate (1) $ 312,494 $ 248,204 $ 147,646 $ 708,344 Other Assets 28,523 40,130 13,910 82,563 Total Assets $ 341,017 $ 288,334 $ 161,556 $ 790,907 Liabilities and Equity Secured Notes Payable, net $ 56,390 $ 124,884 $ — $ 181,274 Other Liabilities 8,025 4,531 16,285 28,841 Total Liabilities 64,415 129,415 16,285 210,115 CSP Equity 221,716 127,135 36,369 385,220 Other Investors' Equity 54,886 31,784 108,902 195,572 Total Liabilities and Equity $ 341,017 $ 288,334 $ 161,556 $ 790,907 __________ (1) Includes REIT Basis Adjustments for costs incurred by the Company outside of the Duke/Hulfish, LLC joint venture (the "Duke JV") that are directly capitalizable to its investment in real estate assets acquired, including acquisition costs paid to our former investment advisor prior to January 1, 2009. (2) Includes the Goodman Princeton Holdings (Jersey) Limited joint venture (the "UK JV") and CBRE Strategic Partners Asia. The following are the balance sheets of our investments in unconsolidated entities at December 31, 2014 (in thousands): Duke JV European JV Other (2) Total Assets Investments in Real Estate (1) $ 323,236 $ 274,128 $ 186,360 $ 783,724 Real Estate Investments and Other Assets Held-for-Sale 17,230 — — 17,230 Other Assets 32,474 49,435 11,553 93,462 Total Assets $ 372,940 $ 323,563 $ 197,913 $ 894,416 Liabilities and Equity Liabilities Related to Real Estate Investments Held-for-Sale $ 11,048 $ — $ — $ 11,048 Secured Notes Payable, net 57,222 135,173 — 192,395 Other Liabilities 6,013 8,214 17,093 31,320 Total Liabilities 74,283 143,387 17,093 234,763 CSP Equity 239,376 144,141 40,176 423,693 Other Investors' Equity 59,281 36,035 140,644 235,960 Total Liabilities and Equity $ 372,940 $ 323,563 $ 197,913 $ 894,416 __________ (1) Includes REIT Basis Adjustments for costs incurred by the Company outside of the Duke JV that are directly capitalizable to its investment in real estate assets acquired, including acquisition costs paid to our former investment advisor prior to January 1, 2009. (2) Includes UK JV, Afton Ridge, and CBRE Strategic Partners Asia. The following are the statements of operations for our investments in unconsolidated entities for the three months ended September 30, 2015 and September 30, 2014 (in thousands): Three Months Ended September 30, 2015 September 30, 2014 Duke JV European JV Other (1) Total Duke JV European JV Other (2) Total Total Revenue $ 12,016 $ 6,515 $ (887 ) $ 17,644 $ 14,331 $ 7,114 $ 4,395 $ 25,840 Operating Expenses 3,106 1,170 598 4,874 3,980 722 820 5,522 Net Operating Income 8,910 5,345 (1,485 ) 12,770 10,351 6,392 3,575 20,318 Depreciation and Amortization 4,960 2,383 490 7,833 6,611 3,061 532 10,204 Interest Expense 751 946 — 1,697 1,031 1,139 — 2,170 Gain on Sale of Real Estate (145 ) — — (145 ) — — — — Net Income (Loss) 3,054 2,016 (1,975 ) 3,095 2,709 2,192 3,043 7,944 Company Share in Net Income 2,443 1,613 208 4,264 2,168 1,754 490 4,412 Adjustments for REIT basis (26 ) — — (26 ) (21 ) — — (21 ) CSP Equity in Net Income $ 2,417 $ 1,613 $ 208 $ 4,238 $ 2,147 $ 1,754 $ 490 $ 4,391 __________ (1) Includes UK JV and CBRE Strategic Partners Asia. (2) Includes UK JV, Afton Ridge, and CBRE Strategic Partners Asia. The following are the statements of operations for our investments in unconsolidated entities for the nine months ended September 30, 2015 and September 30, 2014 (in thousands): Nine Months Ended September 30, 2015 September 30, 2014 Duke JV European JV Other (1) Total Duke JV European JV Other (2) Total Total Revenue $ 35,806 $ 19,188 $ (1,074 ) $ 53,920 $ 43,684 $ 22,233 $ 5,258 $ 71,175 Operating Expenses 9,653 3,041 1,779 14,473 13,302 2,714 2,307 18,323 Net Operating Income 26,153 16,147 (2,853 ) 39,447 30,382 19,519 2,951 52,852 Depreciation and Amortization 15,393 7,416 1,452 24,261 20,810 9,077 1,583 31,470 Interest Expense 2,300 2,820 — 5,120 3,106 3,437 — 6,543 Gain on Sale of Real Estate 2,894 — — 2,894 — — — — Loss on Extinguishment of Debt (73 ) — — (73 ) — — — — Net Income (Loss) 11,281 5,911 (4,305 ) 12,887 6,466 7,005 1,368 14,839 Company Share in Net Income 9,024 4,729 745 14,498 5,179 5,604 1,129 11,912 Adjustments for REIT basis (79 ) — — (79 ) (83 ) — — (83 ) CSP Equity in Net Income $ 8,945 $ 4,729 $ 745 $ 14,419 $ 5,096 $ 5,604 $ 1,129 $ 11,829 __________ (1) Includes UK JV and CBRE Strategic Partners Asia. (2) Includes UK JV, Afton Ridge, and CBRE Strategic Partners Asia. Investments in Unconsolidated Entities Activity On January 23, 2015, the Duke JV sold one office property located in Raleigh, North Carolina for approximately $20.6 million , of which our pro rata share was approximately $16.4 million and our pro rata gain was approximately $2.4 million . On April 30, 2015, CBRE Strategic Partners Asia sold the remaining three floors at the Kowloon Commerce Center in Hong Kong for approximately $42.2 million , of which our pro rata share was approximately $1.4 million .

Deferred Leasing Costs and Inta

Deferred Leasing Costs and Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Deferred Leasing Costs and Intangible Assets and Liabilities	Deferred Leasing Costs and Intangible Assets and Liabilities The following table summarizes our deferred leasing costs and intangible assets, including acquired above-market leases, acquired in-place leases and other intangible assets and intangible liabilities, including acquired below-market leases and acquired above-market ground lease obligations (in thousands): September 30, December 31, 2015 2014 Deferred Leasing Costs and Intangible Assets, Net: Deferred Leasing Costs $ 36,098 $ 22,481 Accumulated Amortization (6,687 ) (4,218 ) Deferred Leasing Costs, Net 29,411 18,263 Above-Market Leases 63,566 63,566 Accumulated Amortization (36,686 ) (30,311 ) Above-Market Leases, Net 26,880 33,255 In-Place Leases 290,758 300,124 Accumulated Amortization (154,095 ) (132,414 ) In-Place Leases, Net 136,663 167,710 Other Intangible Assets 1,425 1,425 Accumulated Amortization (270 ) (163 ) Other Intangible Assets, Net 1,155 1,262 Total Deferred Leasing Costs and Intangible Assets, Net $ 194,109 $ 220,490 Intangible Liabilities, Net: Below-Market Leases $ 46,766 $ 51,653 Accumulated Amortization (26,223 ) (26,675 ) Below-Market Leases, Net 20,543 24,978 Above-Market Ground Lease Obligation 1,501 1,501 Accumulated Amortization (285 ) (231 ) Above-Market Ground Lease Obligation, Net 1,216 1,270 Total Intangible Liabilities, Net $ 21,759 $ 26,248 The following table sets forth amortization related to intangible assets and liabilities for the three and nine months ended September 30, 2015 and 2014 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Deferred Leasing Costs (1) $ 932 $ 423 $ 2,473 $ 1,141 Above-Market Leases (2) 2,110 2,250 6,375 7,198 In-Place Leases (1) 8,953 9,162 27,564 27,915 Other Intangible Assets (1) 36 127 108 127 Below-Market Leases (2) (1,091 ) (1,077 ) (3,443 ) (3,142 ) Above-Market Ground Lease Obligation (3) (18 ) (18 ) (53 ) (53 ) __________ (1) The amortization of deferred leasing costs, in-place leases and other intangible assets are recorded to depreciation and amortization expense in the consolidated statements of operations for the periods presented. (2) The amortization of above-market leases and below-market leases are recorded as reductions and additions to rental income, respectively, in the consolidated statements of operations for the periods presented. (3) The amortization of the above-market ground lease obligation is recorded as a decrease to property operating expense in the consolidated statements of operations for the periods presented. The following is a schedule of future amortization of deferred leasing costs, intangible assets and liabilities as of September 30, 2015 (in thousands): Intangible Assets Intangible Liabilities Deferred Leasing Costs Acquired Above-Market Leases Acquired In-Place Leases Other Intangible Assets Acquired Below-Market Leases Above-Market Ground Lease Obligations Remaining 2015 $ 671 $ 2,090 $ 8,663 $ 36 $ 993 $ 18 2016 2,630 5,557 29,075 144 3,404 71 2017 2,476 4,466 24,603 144 2,912 71 2018 2,376 3,862 20,399 144 2,639 71 2019 2,173 3,300 16,633 144 2,418 71 Thereafter 19,085 7,605 37,290 543 8,177 914 $ 29,411 $ 26,880 $ 136,663 $ 1,155 $ 20,543 $ 1,216

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt Secured Debt Secured notes payable are summarized as follows (in thousands): Property Stated Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance September 30, December 31, 2015 2014 70 Hudson Street (2) 5.65% 5.15% 4/11/2016 $ 112,543 $ 114,108 Point West I - Swapped to Fixed 3.41% 3.41% 12/6/2016 10,472 10,716 100 Tice Blvd 5.97% 4.38% 9/15/2017 18,499 18,960 100 Tice Blvd 5.97% 4.38% 9/15/2017 18,499 18,960 4701 Gold Spike Drive (3) 4.45% 4.45% 3/1/2018 9,806 9,958 1985 International Way (3) 4.45% 4.45% 3/1/2018 6,813 6,920 3660 Deerpark Boulevard (3) 4.45% 4.45% 3/1/2018 7,043 7,153 Tolleson Commerce Park II (3) 4.45% 4.45% 3/1/2018 4,235 4,301 20000 S. Diamond Lake Road (3) 4.45% 4.45% 3/1/2018 6,169 6,265 Atrium I - Swapped to Fixed 3.78% 3.78% 5/31/2018 20,878 21,580 McAuley Place 3.98% 3.50% 9/1/2018 12,582 12,865 Easton III - Swapped to Fixed 3.95% 3.95% 1/31/2019 6,141 6,280 90 Hudson Street 5.66% 5.26% 5/1/2019 102,165 103,301 Fairforest Bldg. 6 5.42% 6.50% 6/1/2019 1,488 1,751 North Rhett I 5.65% 6.50% 8/1/2019 1,606 1,958 Kings Mountain II 5.47% 6.50% 1/1/2020 3,014 3,467 1 Rocket Road 6.60% 4.00% 8/1/2020 18,213 18,516 North Rhett II 5.20% 6.50% 10/1/2020 1,265 1,425 Mount Holly Bldg. 5.20% 6.50% 10/1/2020 1,265 1,425 Orangeburg Park Bldg. 5.20% 6.50% 10/1/2020 1,286 1,449 Kings Mountain I 5.27% 6.50% 10/1/2020 1,096 1,235 Ten Parkway North 4.75% 4.75% 1/1/2021 11,226 11,469 Union Cross Bldg. II 5.53% 6.50% 6/1/2021 5,192 5,755 Union Cross Bldg. I 5.50% 6.50% 7/1/2021 1,709 1,892 Norman Pointe I 5.24% 3.50% 10/1/2021 19,914 20,177 Norman Pointe II 5.24% 3.50% 10/1/2021 21,924 22,214 The Landings I 5.24% 3.50% 10/1/2021 14,987 15,185 The Landings II 5.24% 3.50% 10/1/2021 13,219 13,393 Fairforest Bldg. 5 6.33% 6.50% 2/1/2024 7,203 7,678 North Rhett IV 5.80% 6.50% 2/1/2025 7,427 7,862 One Wayside Road (4) 5.66% 5.25% 8/1/2015 — 12,938 One Wayside Road (4) 5.92% 5.25% 8/1/2015 — 10,854 Lakeside Office Center (5) 6.03% 6.03% 9/1/2015 — 8,617 Celebration Office Center III (6) 4.25% 2.50% 12/1/2015 — 8,817 Property Stated Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance September 30, December 31, 2015 2014 22535 Colonial Pkwy (6) 4.25% 2.50% 12/1/2015 — 7,889 Northpoint III (6) 4.25% 2.50% 12/1/2015 — 10,209 Goodyear Crossing II (6) 4.25% 2.50% 12/1/2015 — 19,489 3900 North Paramount Parkway (6) 4.25% 2.50% 12/1/2015 — 7,656 3900 South Paramount Parkway (6) 4.25% 2.50% 12/1/2015 — 7,656 1400 Perimeter Park Drive (6) 4.25% 2.50% 12/1/2015 — 2,320 Miramar I (6) 4.25% 2.50% 12/1/2015 — 9,095 Miramar II (6) 4.25% 2.50% 12/1/2015 — 12,250 Total Secured Notes Payable 467,879 596,008 Plus Premium 11,587 15,494 Less Discount (727 ) (894 ) Total Secured Notes Payable, Net $ 478,739 $ 610,608 __________ (1) Represents the rate at which interest expense is recorded for financial reporting purposes, which reflects the amortization of any discounts/premiums, excluding debt issuance costs. (2) In accordance with the provisions of this loan, beginning in February 2015, the property's excess cash proceeds after the payment of debt service, impounds and budgeted operating expenses are being held by the lender until the loan is repaid or the property is re-leased to the existing tenant under terms described in the loan agreement. (3) These five loans are cross-collaterialized. (4) This loan was paid off in full on February 2, 2015 prior to the maturity date. (5) This loan was paid off in full on June 3, 2015 prior to the maturity date. (6) These loans were paid off in full on September 2, 2015, prior to their maturity dates. Unsecured Term Loan Facilities The terms of our unsecured term loan facilities and outstanding balances as of September 30, 2015 and December 31, 2014 are set forth in the table below (in thousands): Term Loan Facility Unswapped Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance September 30, December 31, 2015 2014 WF Term Loan #2 (2) LIBOR + 1.50% 2.49% 3/7/2018 $ 200,000 $ 200,000 WF Term Loan #3 (2) LIBOR + 1.50% 3.12% 1/15/2019 200,000 200,000 TD Term Loan (3) LIBOR + 1.75% 3.28% 3/6/2020 50,000 50,000 Capital One Term Loan (2) LIBOR + 1.75% 4.32% 1/31/2021 120,000 120,000 Total Unsecured Term Loan Facilities $ 570,000 $ 570,000 __________ (1) Represents the rate at which interest expense is recorded for financial reporting purposes, which reflects the effect of the interest rate swaps, excluding debt issuance costs. (2) As of September 30, 2015 and December 31, 2014, the applicable LIBOR rate was 0.197% and 0.156% , respectively, for these loans. (3) As of September 30, 2015 and December 31, 2014, the applicable LIBOR rate was 0.197% and 0.155% , respectively, for this loan. Unsecured Revolving Credit Facility The terms of our unsecured revolving credit facility are set forth in the table below (in thousands): September 30, December 31, 2015 2014 Outstanding Borrowings $ 290,044 $ 200,044 Remaining Borrowing Capacity 559,956 649,956 Total Borrowing Capacity $ 850,000 $ 850,000 Interest Rate (1) 1.50 % 1.46 % Facility Fee (2) 30 bps 30 bps Maturity Date (3) January 15, 2018 January 15, 2018 __________ (1) Calculated based on one-month LIBOR plus 1.30% as of September 30, 2015 and December 31, 2014 . (2) The facility fee is based on the unsecured revolving credit facility's total borrowing capacity. (3) We may exercise an option to extend the maturity date by one year. Debt Covenants and Restrictions Certain of our secured notes payable are subject to financial covenants (interest coverage and loan to value ratio). As of September 30, 2015 , our unsecured term loan facilities and revolving credit facility were subject to certain financial covenants that require, among other things: the maintenance of (i) a leverage ratio of not more than 0.60 ; (ii) a fixed charge coverage ratio of at least 1.50 ; (iii) a secured leverage ratio of not more than 0.40 ; (iv) an unencumbered leverage ratio of not more than 0.60 ; (v) minimum tangible net worth of $1.5 billion plus 85% of the net proceeds of certain future equity issuances; (vi) unencumbered asset value of at least $400.0 million ; and (vii) a minimum of 10 Eligible Properties. In addition, our unsecured term loan facilities and revolving credit facility contain a number of customary non-financial covenants including those restricting liens, mergers, sales of assets, certain investments in unimproved land and mortgage receivables, intercompany transfers, transactions with affiliates and distributions. The Company has provided guarantees in connection with our unsecured term loan facilities and revolving credit facility. As of September 30, 2015 , we were in compliance with all financial debt covenants. The minimum principal payments due for our secured notes payable, unsecured term loan facilities and unsecured revolving credit facility are as follows as of September 30, 2015 (in thousands): Remaining 2015 $ 3,588 2016 134,612 2017 46,822 2018 562,612 2019 308,768 Thereafter 271,521 $ 1,327,923

Risk Management and Use of Fina

Risk Management and Use of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management and Use of Financial Instruments	Risk Management and Use of Financial Instruments Risk Management In the course of our ongoing business operations, we encounter economic risk. There are three main components of economic risk: interest rate risk, credit risk and market risk. We are subject to interest rate risk on our interest-bearing liabilities. Credit risk is primarily the risk of inability or unwillingness of tenants to make contractually required payments and of counterparties on derivatives contracts to fulfill their obligations. Market risk is the risk of declines in the value of our properties due to changes in rental rates, interest rates, supply and demand of similar products and other market factors affecting the valuation of properties. Derivative Financial Instruments We utilize interest rate swaps to mitigate the effects of interest rate fluctuations on our variable-rate loans. Our strategy is to use a swap to convert the floating-rate borrowing (usually a secured note payable or an unsecured term loan facility) where LIBOR is consistently applied into a fixed-rate obligation with the only variable piece remaining is the spread between different reset dates when/if the swap and debt are not lined up. We generally enter into an interest rate swap agreement concurrently with the origination of the variable-rate loan for an equivalent principal amount for a period covering the term of the loan, which effectively converts our variable-rate debt to a fixed-rate loan. Our use of derivative instruments, including swaps, is limited by policy to hedging or mitigating commercial risk and we do not use derivative instruments for speculative, trading or investment purposes. The following table sets forth the terms of our interest rate swaps at September 30, 2015 and December 31, 2014 (amounts in thousands): Notional Amount Fair Value Rate Type of Hedging Instrument September 30, December 31, September 30, December 31, September 30, December 31, Index Maturity Date 2015 2014 2015 2014 2015 2014 Interest Rate Swap (1) $ 10,472 $ 10,716 $ (118 ) $ (135 ) 1.2 % 1.3 % LIBOR 12/6/2016 Interest Rate Swap (2) 200,000 200,000 (1,143 ) 1,467 0.8 % 0.8 % LIBOR 3/7/2018 Interest Rate Swap (1) 20,878 21,580 (508 ) (354 ) 1.6 % 1.6 % LIBOR 5/31/2018 Interest Rate Swap 200,000 200,000 (4,467 ) (1,540 ) 1.4 % 1.5 % LIBOR 1/15/2019 Interest Rate Swap (1) 6,141 6,280 (194 ) (127 ) 1.7 % 1.8 % LIBOR 1/31/2019 Interest Rate Swap (2) 50,000 50,000 (866 ) 266 1.3 % 1.4 % LIBOR 3/6/2020 Interest Rate Swap 120,000 120,000 (7,819 ) (5,543 ) 2.4 % 2.4 % LIBOR 1/31/2021 __________ (1) We assumed this swap in connection with the purchase of the Duke Portfolio on March 1, 2013. This swap is considered a hedging instrument under ASC 815-20 as of September 30, 2015 . The swap was not considered a hedging instrument under ASC 815-20 during the period from March 1, 2013 to March 31, 2013. (2) We entered into these swaps in connection with the origination of the TD Term Loan and WF Term Loan #1 in March 2013. These swaps are considered hedging instruments under ASC 815-20 as of September 30, 2015 . These swaps were not considered hedging instruments under ASC 815-20 during the period from March 11, 2013 and March 12, 2013, respectively, to May 29, 2013. We record all derivative instruments on a gross basis in the consolidated balance sheets. Accordingly, there are no offsetting amounts that net assets against liabilities. The asset and liability balances presented in the table below reflect the gross amounts of derivatives recorded in the consolidated balance sheets (in thousands): Asset Derivatives Liability Derivatives Fair Value Fair Value September 30, December 31, September 30, December 31, Type of Instrument Balance Sheet Location 2015 2014 Balance Sheet Location 2015 2014 Derivatives designated as hedging instruments Interest Rate Swaps Prepaid Expenses and Other Assets $ — $ 1,733 Accounts Payable, Accrued Expenses and Other Liabilities $ 15,115 $ 7,699 The table below presents the effect of our derivative instruments on our consolidated statement of operations and consolidated statement of comprehensive income for the three and nine months ended September 30, 2015 and 2014 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Derivatives Designated as Cash Flow Hedges: (Loss) Gain Recognized in Other Comprehensive Income (OCI) (Effective Portion) $ (8,708 ) $ 1,545 $ (15,671 ) $ (11,041 ) Loss Reclassified from AOCI into Interest Expense (Effective Portion) (2,159 ) (2,260 ) (6,456 ) (6,955 ) Net Change in Fair Value of Derivative Financial Instruments (Ineffective Portion and Amount Excluded from Effectiveness Testing) 23 68 66 80 As of September 30, 2015 , the Company expected that the hedged forecasted transactions, for each of the outstanding qualifying cash flow hedging relationships, remained probable of occurring. During the next twelve months we anticipate reclassifying $7.2 million of amounts currently recorded in accumulated other comprehensive income to earnings. Concentration of Credit Risk Our credit risk relates primarily to cash, restricted cash, and interest rate swap agreements. Cash accounts at each U.S. institution are insured by the Federal Deposit Insurance Corporation up to $250,000 through December 31, 2015 . We have not experienced any losses to date on our invested cash and restricted cash. The interest rate swap agreements create credit risk. Credit risk arises from the potential failure of counterparties to perform in accordance with the terms of their contracts. Our risk management policies define parameters of acceptable market risk and limit exposure to credit risk. Credit exposure resulting from derivative financial instruments is represented by their fair value amounts, increased by an estimate of potential adverse position exposure arising from changes over time in interest rates, maturities, and other relevant factors. We do not anticipate nonperformance by any of our counterparties. Our consolidated properties are located throughout the United States and in the United Kingdom. The ability of the tenants to honor the terms of their respective leases is dependent upon the economic, regulatory, and social factors affecting the communities in which the tenants operate. In addition, we do not have any tenant whose rent exceeds 10% of our total rental revenue.

Future Minimum Rents

Future Minimum Rents	9 Months Ended
	Sep. 30, 2015
Leases [Abstract]
Future Minimum Rents	Future Minimum Rents The following is a schedule of future minimum rents to be received on non-cancelable operating leases from consolidated properties as of September 30, 2015 (in thousands): Remaining 2015 $ 53,053 2016 196,630 2017 188,190 2018 174,713 2019 159,801 Thereafter 663,682 $ 1,436,069

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As required by the Transitional Services Agreement, we and the former investment advisor have agreed on a list of unacquired real estate investments for which the former investment advisor has performed certain acquisition related consulting services prior to the termination of the Transitional Service Agreement (a "Qualifying Property"). If any Qualifying Property is acquired by us within the nine months following the termination of the Transitional Services Agreement then we shall pay an acquisition consulting fee equal to 0.75% of (i) the contract purchase price of the real estate investments (including debt), or (ii) when we make an investment indirectly through another entity, such investment's pro rata share of the gross asset value of real estate investments held by that entity to the former investment advisor. During the year ended December 31, 2014, we acquired one Qualifying Property and paid the former investment advisor $0.2 million in acquisition consulting fees. There are no further Qualifying Properties under the Transitional Services Agreement and we do not anticipate paying the former investment advisor any further acquisition consulting fees. Additionally, until June 30, 2017, if we attempt to effect certain types of transactions, including, but not limited to, a merger, consolidation or sale of 10% of more of our business, assets or voting securities (excluding the sale of any securities pursuant to a registration statement filed pursuant to the Securities Act of 1933, as amended), we have agreed under our Transition to Self-Management Agreement, by and among CB Richard Ellis Realty Trust, CBRE Operating Partnership, L.P., CBRE Global Investors, LLC and CBRE Advisors LLC, dated April 27, 2012 (the “Transition to Self-Management Agreement”) to engage CBRE Global Investors, LLC, our former sponsor, or an affiliate of our former sponsor to provide financial advice and assistance in connection therewith provided that such entity continues to have the sufficient expertise and resources to provide such financial advice and assistance. The transactional financial advisory fee payable by the Company to CBRE Global Investors or its affiliate upon the closing of a transaction will be equal to one-quarter of one percent ( 0.25% ) of the consideration in the transaction, as defined in the Transition to Self-Management Agreement, plus the reimbursement of reasonable expenses. In accordance with the Transition to Self-Management Agreement, we engaged CBRE Global Investors, LLC in connection with the proposed merger with Gramercy, and CBRE Global Investors, LLC will be entitled to receive the aforementioned transaction advisory fee upon consummation of such merger.

Equity Incentive Plan and Perfo

Equity Incentive Plan and Performance Bonus Plan	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Incentive Plan and Performance Bonus Plan	Equity Incentive Plan and Performance Bonus Plan Equity Incentive Plan At our annual shareholders' meeting held on May 31, 2013, our shareholders approved the 2013 Equity Incentive Plan. Our key employees, directors, trustees, officers, advisors, consultants or other personnel of ours and our subsidiaries or other persons expected to provide significant services to us or our subsidiaries would be eligible to be granted incentive share options, non-qualified share options, share appreciation rights, restricted shares, restricted share units, dividend equivalent rights and other equity-based awards as contemplated in the 2013 Equity Incentive Plan. As of September 30, 2015 , there were 3,323,441 common shares available for grant under the 2013 Equity Incentive Plan. 2015 Awards On January 9, 2015, our Board of Trustees' independent trustees, Messrs. Charles Black, Mark Brugger, James Francis, James Orphanides and Louis Salvatore, were awarded restricted shares units ("Trustee RSUs") under the Company's 2013 Equity Incentive Plan on the following terms: (i) (y) Mr. Black was awarded 20,000 Trustee RSUs, and (z) Messrs. Brugger, Francis, Orphanides and Salvatore each were awarded 5,000 Trustee RSUs; and (ii) each award is subject to a mandatory deferral program. Pursuant to the mandatory deferral program, each Trustee RSU entitles a holder to receive one common share upon the earlier of (i) the sixth month anniversary of the holder's separation of service from the Company, and (ii) a change in control of the Company. Each Trustee RSU also entitles a holder to receive an amount equal to the dividends paid on one common share. The fair value of the Trustee RSUs was valued by a third-party valuation firm taking into consideration the mandatory deferral program restrictions. Based on the valuation analysis, the fair value of each Trustee RSU was determined to be $7.13 , which represents a discount of 12.5% from the grant date closing share price of $8.15 . The expected remaining term for the Trustee RSUs are not expected to convert into common shares for another two years . On September 4, 2015, Mark Brugger resigned as a member of the Board of Trustees. Upon his resignation, Mr. Brugger was awarded 9,186 Trustee RSUs under the Company's 2013 Equity Incentive Plan. Based on a third-party valuation analysis, the fair value of each Trustee RSU was determined to be $6.13 , which represents a discount of 7.5% from the grant date closing share price of $6.63 . The remaining Trustee RSUs held by Mr. Brugger are not expected to convert into common shares for another four months. On March 13, 2015, our employees were awarded an aggregate of 474,862 restricted share units under the Company's 2013 Equity Incentive Plan, of which 237,440 are subject to market and service vesting requirements ("Performance Share Units" or "PSUs") and 237,422 are subject to time-based vesting requirements ("Time-Based RSUs" or "RSUs"). The Time-Based RSUs are subject to vest in three equal annual installments from the date of grant contingent on the grantee's continued employment with the Company. The Company pays an amount into an escrow account for the benefit of the grantee, measured by the dividends and other distributions paid with respect to the number of shares underlying the Time-Based RSU, or a Dividend Equivalent, between the grant date and the date such Time-Based RSU vests. The Dividend Equivalent is paid to the grantee on the relevant vesting dates of the Time-Based RSU. The PSUs are restricted share units that vest at the end of a three -year performance period. Each employee is granted a target number of PSUs (the “PSU Target Award”). The actual number of common shares issued to each employee is subject to the achievement of certain levels of total shareholder return relative to the total shareholder return of a peer group of publicly-traded REITs included in the FTSE NAREIT All Equity Total Return Index, over a three -year performance period. There will be no payout of our common shares if our total shareholder return falls below the 30th percentile of the total shareholder returns of the peer group. The maximum number of common shares issued to an employee is equal to 150% of the PSU Target Award and is earned if our total shareholder return is equal to or greater than the 75th percentile of the total shareholder returns of the peer group. The number of PSUs can ultimately fluctuate from the 237,440 granted based upon the levels of achievement for shareholder returns. Compensation expense for the PSU's will be recorded on a straight-line basis over the three year period. The fair value of the Performance Share Unit award was determined using a Monte Carlo simulation performed by a third-party valuation firm. The following table summarizes the assumptions utilized in the Monte Carlo simulation pricing model: Assumptions Fair value per unit at March 13, 2015 $ 6.00 Expected share price volatility 22.0 % Dividend yield 6.0 % Risk-free interest rate 0.99 % Remaining expected life 2.8 years The computations of expected volatility are based on a blend of the historical volatility of our common shares and those of our peer group companies with similar operations over approximately five and a half years as that is expected to be most consistent with future volatility and equates to a time period twice as long as the approximate two and four-fifths year remaining performance period of the PSUs. Implied volatility data is based on the observed pricing of six month (180 day) publicly-traded options on each company's common stock. The risk-free interest rate corresponds to the length of the remaining Performance Cycle and is based on the prevailing zero-coupon U.S. Treasury yield as of March 13, 2015. The expected dividend yield is estimated by examining the Company's average dividend yield over the preceding five years, as well as its current dividend yield as of March 13, 2015. The expected life of the PSUs is equal to the remaining 2.8 year vesting period as of March 13, 2015. Retirement of Mr. Cuneo On March 5, 2015, Mr. Cuneo stepped down as President and Chief Executive Officer of the Company and resigned from the Board of Trustees of the Company. Pursuant to his Memorandum of Retirement dated November 9, 2014, Mr. Cuneo remained employed by the Company in a non-officer position through March 16, 2015. As part of his 2014 performance bonus, Mr. Cuneo received 75,000 Time-Based RSUs and 75,000 PSUs, which became fully vested upon his retirement. We recognized cash compensation of approximately $187,000 and non-cash compensation of approximately $3.3 million related to Mr. Cuneo’s retirement in 2015. Non-Renewal Notices to Executive Officers On August 20, 2015, the Company delivered a notice of non-renewal to Martin A. Reid (Interim President and Chief Executive Officer, and Chief Financial Officer) and Philip L. Kianka (Chief Operating Officer) (each, an “Executive”) providing that each Executive’s Initial Term (as defined in each Executive’s respective executive employment agreement) would not be renewed. As a result, unless otherwise agreed, each Executive’s last day of employment will be December 31, 2015. However, to the extent agreed upon, the Executives may be employed on an at-will basis beginning January 1, 2016. 2014 Awards On January 29, 2014, our Board's independent trustees, Messrs. Black, Brugger, Francis, Orphanides and Salvatore, were awarded equity grants under our 2013 Equity Incentive Plan on the following terms: (i) (x) Mr. Black's award was for 20,000 common shares, (y) Messrs. Orphanides and Salvatore each were awarded 5,000 common shares and (z) Messrs. Brugger and Francis each were awarded 1,550 common shares, for a total of 33,100 common shares awarded to trustees and (ii) each award vested in its entirety, upon issuance. We recorded compensation expense based upon the $7.87 price per share on January 29, 2014. On February 26, 2014, the Company and CSP OP entered into an amendment to Martin A. Reid's employment agreement, effective as of January 1, 2013, increasing Mr. Reid's annual target Long Term Incentive Award to 90,000 restricted common shares of the Company. On March 15, 2014, a total of 401,875 restricted common shares were granted to our named executive officers (Messrs. Cuneo, Kianka and Reid) based on each executive's achievement of performance objectives during 2013, as determined at the discretion of our Compensation Committee of the Board of Trustees of the Company (the “Compensation Committee”). Additionally, 25 of our employees were granted 143,450 restricted common shares, in the aggregate, on March 15, 2014. One-third of the restricted shares granted to our named executive officers and employees will vest on each of the first three anniversaries of grant if the grantee is employed by the Company on such anniversary . We recorded compensation expense based upon the $7.74 price per share on March 15, 2014. Compensation expense is recognized on a straight-line basis over the service vesting period of three years . We recognized share-based compensation expense of $170,000 and $563,000 during the three months ended September 30, 2015 and 2014 , respectively, and $510,000 and $968,000 during the nine months ended September 30, 2015 and 2014 , respectively, as a result of granting the awards to our named executive officers and our employees. On July 31, 2014, the Compensation Committee adopted and approved an incentive bonus plan, a form of restricted share award agreement, and a form of restricted share unit award agreement that may be used in connection with awards made pursuant to the 2013 Equity Incentive Plan from time to time to the Company’s trustees, executive officers and other employees. The incentive bonus plan is intended to provide additional incentive for key employees of the Company to perform to the best of their abilities, to further the growth, development and financial success of the Company, and to enable us to attract and retain qualified and talented individuals. Restricted shares are awarded to grantees based on a time-based vesting formula. Restricted share units represent a contingent commitment of the Company to issue shares to a grantee based on certain performance-based goals determined by the Compensation Committee. Summary of Time-Based Restricted Common Shares A summary of our Time-Based Restricted Common Shares from January 1, 2015 through September 30, 2015 is presented below: Nonvested Restricted Common Shares Common Shares Weighted-Average Grant Date Fair Value per Share Outstanding at January 1, 2015 800,699 $ 8.68 Granted (1) 200,000 8.10 Vested (1)(2) (766,463 ) 8.58 Forfeited (1,202 ) 8.37 Outstanding at September 30, 2015 233,034 $ 8.30 __________ (1) Shares granted to Mr. Cuneo were fully vested upon his retirement. (2) Total shares vested include 336,041 common shares that were tendered in accordance with the terms of our 2013 Equity Incentive Plan to satisfy minimum state tax withholding requirements related to the restricted common shares that have vested. We accept the return of shares at the current quoted closing share price of the Company's common shares on the NYSE to satisfy tax obligations. Summary of Time-Based RSUs A summary of our Time-Based RSUs from January 1, 2015 through September 30, 2015 is presented below: Nonvested RSUs Amount Weighted-Average Grant Date Fair Value Per Share Vested RSUs Total RSUs Outstanding at January 1, 2015 — $ — — — Granted 237,422 7.78 — 237,422 Vested (75,000 ) 7.78 75,000 — Forfeited (397 ) 7.78 — (397 ) Settled (1) — — (75,000 ) (75,000 ) Outstanding at September 30, 2015 162,025 $ 7.78 — 162,025 __________ (1) Represents vested RSUs that were settled in shares of the Company's common shares. Total shares settled include 38,806 shares that were tendered in accordance with the terms of our 2013 Equity Incentive Plan to satisfy minimum state tax withholding requirements related to the RSU settled. We accept the return of shares at the current quoted closing share price of the Company's common shares on the NYSE to satisfy tax obligations. Summary of PSUs A summary of our PSUs from January 1, 2015 through September 30, 2015 is presented below: Nonvested PSUs Amount Weighted-Average Grant Date Fair Value Per Share Vested PSUs Total PSUs Outstanding at January 1, 2015 — $ — — — Granted 237,440 6.56 — 237,440 Vested (75,000 ) 7.78 75,000 — Forfeited (397 ) 6.00 — (397 ) Settled (1) — — (75,000 ) (75,000 ) Outstanding at September 30, 2015 162,043 $ 6.00 — 162,043 __________ (1) Represents vested PSUs that were settled in shares of the Company's common shares. Total shares settled include 38,888 shares that were tendered in accordance with the terms of our 2013 Equity Incentive Plan to satisfy minimum state tax withholding requirements related to the PSU settled. We accept the return of shares at the current quoted closing share price of the Company's common shares on the NYSE to satisfy tax obligations. 2015 2014 (in thousands, except share data) Compensation Expense Recorded During the Nine Months Ended September 30 (1) $ 5,285 $ 1,924 Unamortized Compensation Costs $ 3,058 $ 7,351 Shares Available for the Future Awards (2) 3,323,441 4,041,992 __________ (1) 2015 compensation expense includes severance expense totaling $3.3 million . (2) Shares available for the future awards includes units under our 2013 Equity Incentive Plan.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Common Shares Under our current declaration of trust, we have the authority to issue a total of 1,000,000,000 shares of beneficial interest. Of the total shares authorized, 990,000,000 shares are designated as common shares, with a par value of $0.01 per share, and 10,000,000 shares are designated as preferred shares, with a par value of $0.01 per share. As of September 30, 2015 and December 31, 2014, there were no preferred shares issued or outstanding. At-The-Market Offering On November 6, 2013, we and CSP OP entered into four separate Equity Distribution Agreements with certain sales agents, pursuant to which we may sell, from time to time, subject to the restrictions contained in the Merger Agreement (as defined herein), our common shares having an aggregate offering price of up to $250.0 million . Sales of our common shares may be made in ordinary brokers' transactions on the NYSE, in negotiated transactions or transactions that are deemed to be "at the market" ("ATM") offerings, including sales made to or through a market maker other than on an exchange, at prices related to the prevailing market prices or at negotiated prices. We may use these proceeds and proceeds from the sale of its debt securities to repay debt, including borrowings under our unsecured revolving credit facility, to make acquisitions of properties or portfolios of properties, or for general corporate purposes. As of September 30, 2015 there have been no sales of common shares under the ATM program. Accumulated Other Comprehensive Income (Loss) The following presents the changes in the balances of each component of accumulated other comprehensive income (loss) for the nine months ended September 30, 2015 and 2014 (in thousands): Foreign Currency Translation Gain (Loss) Swap Fair Value Adjustment Accumulated Other Comprehensive Income (Loss) Balance at January 1, 2015 $ (17,513 ) $ (5,756 ) $ (23,269 ) Other Comprehensive Loss Before Reclassifications (12,573 ) (15,671 ) (28,244 ) Amounts Reclassified from Accumulated Other Comprehensive Income to Interest Expense — 6,456 6,456 Balance at September 30, 2015 $ (30,086 ) $ (14,971 ) $ (45,057 ) Foreign Currency Translation Gain Swap Fair Value Adjustment Accumulated Other Comprehensive Income (Loss) Balance at January 1, 2014 $ 1,670 $ 2,926 $ 4,596 Other Comprehensive Income (Loss) Before Reclassifications (13,793 ) (11,041 ) (24,834 ) Amounts reclassified from Accumulated Other Comprehensive Income to Interest Expense — 6,955 6,955 Balance at September 30, 2014 $ (12,123 ) $ (1,160 ) $ (13,283 )

Fair Value of Financial Instrum

Fair Value of Financial Instruments and Investments	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments and Investments	Fair Value of Financial Instruments and Investments We apply the three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices for identical financial instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as instruments that have little to no pricing observability as of the reported date. These financial instruments do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation. As of September 30, 2015 and December 31, 2014 , we held certain items that were required to be measured at fair value on a recurring basis. These included cash equivalents, interest rate swap derivative contracts and our equity method investment in CBRE Strategic Partners Asia. Cash equivalents consist of short-term, highly liquid, income-producing investments, all of which have original maturities of 90 days or less, including money market funds and U.S. Government obligations. Derivative instruments are related to our economic hedging activities with respect to interest rates. The fair values of the interest rate swap derivative agreements are estimated with the assistance of a third-party valuation specialist using the market standard methodology of discounting the future expected cash payments and receipts on the pay and receive legs of the interest rate swap agreements that swap the estimated variable rate mortgage note payment stream for a fixed rate receive payment stream over the period of the loan. The variable interest rates used in the calculation of projected receipts on the interest rate swap agreements are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements (where appropriate). Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, as of September 30, 2015 and December 31, 2014 , we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. We have consistently applied these valuation techniques in all periods presented and believe we have obtained the most accurate information available for the types of derivative contracts we hold. Our investment in CBRE Strategic Partners Asia is based on the Level 3 valuation inputs applied by the Investment Manager of this investment company utilizing a mix of different approaches for valuing the underlying real estate related investments within the investment company. The approaches include the income approach, direct market comparison approach and the replacement cost approach for newer properties. For investments owned more than one year, except for investments under construction or incurring significant renovation, it is CBRE Strategic Partners Asia’s policy to obtain a third-party appraisal. For investments in real estate under construction or incurring significant renovation, the valuation analysis is prepared by the Investment Manager. On a quarterly basis, the Company obtains the financial results of CBRE Strategic Partners Asia and on an annual basis the Company receives audited financial statements. Impairment of Real Estate During the year ended December 31, 2014, we recognized an impairment charge of $27.6 million in continuing operations related to our 70 Hudson Street property. Accordingly, we reduced the carrying value of this property to the property’s current estimated fair value of approximately $94.0 million . The inputs used to calculate the fair value included projected cash flows and risk-adjusted rate of return that we estimated would be used by a market participant in valuing the asset or by obtaining a range of third-party broker valuation estimates. We utilized a discounted cash flow analysis to estimate the property's fair value. The unobservable inputs (Level 3) of our real estate that was recorded at fair value as of December 31, 2014 included a discount rate of 12% , a terminal capitalization rate of 6.5% , a market rent growth rate range of 3% - 3.4% and an expense growth rate of 3% . The following items are measured at fair value on a recurring basis and non-recurring basis at September 30, 2015 and December 31, 2014 (in thousands): As of September 30, 2015 Fair Value Measurements Using: Quoted Markets Prices (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets (Liabilities) Cash and Cash Equivalents $ 6,583 $ — $ — $ 6,583 Interest Rate Swaps Designated as Cash Flow Hedges - Assets — — — — Interest Rate Swaps Designated as Cash Flow Hedges - Liabilities — (15,115 ) — (15,115 ) Investment in CBRE Strategic Partners Asia — — 5,194 5,194 As of December 31, 2014 Fair Value Measurements Using: Quoted Markets Prices (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets (Liabilities) Cash and Cash Equivalents $ 1,573 $ — $ — $ 1,573 Interest Rate Swaps Designated as Cash Flow Hedges - Assets — 1,733 — 1,733 Interest Rate Swaps Designated as Cash Flow Hedges - Liabilities — (7,699 ) — (7,699 ) Investment in CBRE Strategic Partners Asia — — 6,870 6,870 Fair Value of Real Estate at Impairment (1) — — 94,000 94,000 __________ (1) Represents a non-recurring fair value measurement. The following table presents our activity for our investment in CBRE Strategic Partners Asia measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2015 and 2014 , respectively (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Investment in CBRE Strategic Partners Asia Balance at January 1, 2015 $ 6,870 Distributions (1,385 ) Total Income on Fair Value Adjustment 762 Unrealized Loss in Fair Value Adjustment (1,053 ) Balance at September 30, 2015 $ 5,194 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Investment in CBRE Strategic Partners Asia Balance at January 1, 2014 $ 9,676 Distributions (2,724 ) Total Loss on Fair Value Adjustment (13 ) Balance at September 30, 2014 $ 6,939 Disclosure of Fair Value Financial Instruments For disclosure purposes only, the following table summarizes our notes payable and their estimated fair value at September 30, 2015 and December 31, 2014 (in thousands): September 30, 2015 December 31, 2014 Financial Instrument Carrying Value Fair Value Carrying Value Fair Value Secured Notes Payable (1) $ 478,739 $ 495,673 $ 610,608 $ 628,194 Unsecured Term Loan Facilities (1) $ 570,000 $ 589,771 $ 570,000 $ 577,196 Unsecured Revolving Credit Facility (1) $ 290,044 $ 290,044 $ 200,044 $ 200,044 __________ (1) Items are measured using Level 2 inputs. These financial instruments do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Ground Leases - We own a property that is subject to a long-term noncancellable ground lease obligation that contractually expires on November 30, 2032. We have three ten -year renewal options that will allow us to extend the expiration of the ground lease through November 30, 2062. The minimum commitment under the ground lease as of September 30, 2015 and thereafter is as follows (in thousands): Remaining 2015 $ 68 2016 273 2017 273 2018 276 2019 308 Thereafter 4,474 $ 5,672 Proposed Merger with Gramercy—On July 1, 2015, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Gramercy, and Columbus Merger Sub, LLC, a Maryland limited liability company and a direct or indirect wholly owned subsidiary of the Company (“Merger Sub” and together with the Company, the “Company Parties”), pursuant to which Gramercy will be merged with and into Merger Sub (the “Merger”), with Merger Sub continuing as the surviving entity of the Merger. Pursuant to the terms and conditions in the Merger Agreement, at the effective time of the Merger, each share of Gramercy common stock issued and outstanding immediately prior to the effective time will be converted into the right to receive 3.1898 (the “Exchange Ratio”) validly issued, fully paid and nonassessable Company common shares of beneficial interest, par value $0.01 per share (the “Merger Consideration”). Additionally, each share of Gramercy’s 7.125% Series B Cumulative Redeemable Preferred Stock (“Gramercy Preferred Stock”) issued and outstanding prior to the effective time will be converted into a right to receive one newly issued share of 7.125% Series A Cumulative Redeemable Preferred Shares of the Company (“New Company Preferred Shares”), having preferences, rights and privileges substantially identical to the preferences, rights and privileges of the Gramercy Preferred Stock. Following the completion of the Merger, we will change our name to “Gramercy Property Trust” and it is anticipated that our common shares will cease to trade under their current ticker but rather trade on the New York Stock Exchange under the Gramercy ticker symbol “GPT”. The Merger Agreement provides that, at the effective time of the Merger, Gramercy’s stock options, restricted stock awards, and restricted stock unit awards generally will convert into share options, restricted share awards, and restricted share unit awards of the Company, as applicable, with respect to a number of Company common shares, after giving effect to appropriate adjustments to reflect the consummation of the Merger. The Company Parties and Gramercy each made certain customary representations, warranties and covenants in the Merger Agreement, including, among others, covenants by each party to conduct its business in all material respects in the ordinary course of business and use commercially reasonable efforts to preserve its business organization intact during the period between the execution of the Merger Agreement and the consummation of the Merger. The parties’ obligations to consummate the Merger are subject to certain mutual conditions, including, without limitation, (i) the approval by the holders of a majority of the outstanding shares of Gramercy common stock entitled to vote on the adoption of the Merger Agreement at the special meeting of the Gramercy stockholders (the “Gramercy Stockholder Approval”), (ii) the approval by the holders of a majority of the Company common shares cast by the Company shareholders entitled to vote on the issuance of Company common shares in connection with the Merger at the annual meeting of the Company shareholders (the “Company Shareholder Approval”), (iii) the absence of any law, order or injunction prohibiting the Merger, (iv) the effectiveness of the registration statement on Form S-4 to be filed by the Company for purposes of registering the Company common shares issuable in connection with the Merger and (v) the approval for listing on the New York Stock Exchange of the Company common shares to be issued in the Merger, the New Company Preferred Shares and Company common shares into which Gramercy’s 3.75% Exchangeable Senior Notes due 2019 may be converted. In addition, each party’s obligation to consummate the Merger is subject to certain other conditions, including, without limitation, (w) the accuracy of the other party’s representations and warranties (subject to customary materiality qualifiers) and the absence of any material adverse effect (as such term is defined in the Merger Agreement) with respect to the other party, (x) the other party’s compliance with its covenants and agreements contained in the Merger Agreement (subject to customary materiality qualifiers), (y) the receipt of opinions that the Merger will qualify as a reorganization within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended, and (z) the receipt of customary opinions as to the qualification of the Company, Gramercy and certain subsidiaries of Gramercy as REITs under the Internal Revenue Code. From the date of the Merger Agreement until the earlier of the effective time of the Merger and the termination of the Merger Agreement in accordance with its terms, we and Gramercy agree not to (and will cause our respective subsidiaries and representatives not to) (i) solicit, initiate, knowingly encourage or facilitate any inquiries or the making of any proposal or offer with respect to a Competing Proposal (as defined in the Merger Agreement), (ii) engage in, continue or otherwise participate in any discussions or negotiations regarding, or furnish to any other person information in connection with or for the purpose of encouraging or facilitating, a Competing Proposal, (iii) approve, authorize or execute or enter into any letter of intent, option agreement, agreement or agreement in principle with respect to a Competing Proposal or (iv) propose or agree to do any of the foregoing. However, these restrictions are subject to customary “fiduciary-out” provisions which allow either the Company or Gramercy under certain circumstances to provide information to and participate in discussions with third parties with respect to unsolicited alternative acquisition proposals that our Board of Trustees or Gramercy's Board of Directors (as applicable) has reasonably determined in good faith (after consultation with its outside legal counsel and independent financial advisors) is, or could reasonably be expected to lead to, a transaction more favorable to such party and its shareholders than the Merger and is reasonably likely to receive all required governmental approvals and financing on a timely basis and is otherwise capable of being completed on the terms proposed. The Merger Agreement also contains certain termination rights for both the Company and Gramercy, including, but not limited to, if the Merger is not consummated on or before January 31, 2016 or if the Company Shareholder Approval or Gramercy Stockholder Approval are not obtained at the applicable stockholder meeting. The Merger Agreement further provides that, upon termination of the Merger Agreement under certain specified circumstances, including, but not limited to, termination of the Merger Agreement by the Company or Gramercy as a result of an adverse change in the recommendation of the Company Board or the Gramercy Board, as applicable, the Company may be required to pay to Gramercy a termination fee of $61,198,934 , or Gramercy may be required to pay to the Company a termination fee of $43,505,889 , in each case, in addition to reimbursing $20 million of expenses of the other party. In connection with the transaction with Gramercy, the Company filed a registration statement on Form S-4 with the SEC containing a preliminary joint proxy statement of the Company and Gramercy that also constituted a preliminary prospectus of the Company, which was declared effective on October 27, 2015. On October 30, 2015, Gramercy and the Company mailed the definitive proxy statement/prospectus to stockholders of Gramercy and shareholders of the Company. Litigation— Gramercy, the Company, Merger Sub and/or the members of the Gramercy Board are named as defendants in two pending putative class action and/or shareholder derivative lawsuits brought by purported holders of Gramercy common stock challenging the Merger. One is pending in New York Supreme Court, New York County, captioned In re Gramercy Property Trust Stockholder Litigation , Index No. 652424/2015, and one is pending in the Circuit Court for Baltimore City, Maryland, captioned Morris v. Gramercy Property Trust, et al. , Case No. 24-C-15-004972. The New York case is a consolidation of two earlier-filed actions, originally captioned Berliner v. Gramercy Property Trust , et al., Index No. 652424/2015 and Gensler v. Baum, et al., Index No. 157432/2015. The Maryland case is a consolidation of four earlier-filed actions, originally captioned Jobin v. DuGan, et al., Case No. 24-C-15-003942; Vojik v. Gramercy Property Trust, et al. , Case No. 24-C-15-004412; Hoffbauer et al. v. Chambers Street Properties, et al. , 24-C-15-004904 (originally filed as two separate suits in the Circuit Court for Baltimore County, Maryland, captioned Plemons v. Chambers Street Properties, et al., Case No. 03-C-15-007943 and Hoffbauer et al. v. Chambers Street Properties, et al. , Case No. 03-C-15-008639, and refiled as a single action in the Circuit Court for Baltimore County on September 24, 2015); and Morris v. Gramercy Property Trust, et al. , Case No. 24-C-15-004972. The pending complaints allege, among other things, that the directors of Gramercy breached their fiduciary duties to Gramercy stockholders, and that the Company, Merger Sub and/or Gramercy aided and abetted these purported breaches of fiduciary duty. They also allege that there were material misstatements and omissions in the preliminary joint proxy statement/prospectus on Form S-4 that was filed with the SEC on September 11, 2015. Plaintiffs seek, among other things, an injunction barring the Merger, rescission of the Merger to the extent it is already implemented, declaratory relief, an award of damages and/or costs/attorney fees. Gramercy, the Company, and members of the Company Board are named as defendants in a putative class action lawsuit brought by a purported holder of Company common shares challenging the Merger. The action was filed in the Superior Court of New Jersey, Law Division, Mercer County on October 1, 2015, captioned Elstein v. Chambers Street Properties et al. , Docket No. L-002254-15. The complaint alleges, among other things, that the trustees of the Company breached their fiduciary duties to Company shareholders by agreeing to the Merger after a flawed sales process and by approving improper deal protection terms in the merger agreement, and that Gramercy aided and abetted these purported breaches of fiduciary duty. It also alleges that there were material misstatements and omissions in the preliminary joint proxy statement/prospectus on Form S-4 that was filed with the SEC on September 11, 2015. Plaintiffs seek, among other things, an injunction barring the Merger, rescission of the Merger to the extent it is already implemented, declaratory relief and an award of damages. The Company believes the lawsuits are without merit. Environmental Matters—We are not aware of any material environmental liability or any unasserted claim or assessment with respect to a material environmental liability that we believe would require additional disclosure or the recording of a loss contingency.

Segment Disclosure

Segment Disclosure	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Disclosure	Segment Disclosure We view our consolidated property operations as two reportable segments: Industrial Properties and Office Properties. In addition, we had one non-reportable segment, which was Retail Properties. However, during the third quarter ended September 30, 2014 we sold our last remaining retail property, therefore, eliminating the non-reportable segment from future reportable presentations. Management internally evaluates the operating performance and financial results of our segments based on net operating income. We also have certain general and administrative level activities including legal, accounting, tax preparation and shareholder servicing costs that are not considered separate operating segments. We evaluate the performance of our segments based on net operating income, defined as: rental income, tenant reimbursements and other property income less property and related expenses (operating and maintenance and real estate taxes) and excludes other non-property income and expenses, interest expense, depreciation and amortization, and corporate general and administrative expenses. The following table compares the net operating income for the three and nine months ended September 30, 2015 and 2014 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Industrial Properties Revenues: Rental $ 18,493 $ 15,116 $ 55,448 $ 43,241 Tenant Reimbursements 4,787 3,997 14,667 11,967 Other Property Income 1,072 537 1,520 537 Total Revenues 24,352 19,650 71,635 55,745 Property and Related Expenses: Property Operating 1,345 1,355 4,576 4,061 Real Estate Taxes 3,758 3,370 11,474 10,100 Total Property and Related Expenses 5,103 4,725 16,050 14,161 Net Operating Income $ 19,249 $ 14,925 $ 55,585 $ 41,584 Office Properties Revenues: Rental $ 36,422 $ 37,022 $ 110,572 $ 110,737 Tenant Reimbursements 10,859 11,243 32,250 33,019 Other Property Income — — — 1,069 Total Revenues 47,281 48,265 142,822 144,825 Property and Related Expenses: Property Operating 7,143 7,615 21,828 22,714 Real Estate Taxes 6,936 6,692 20,576 20,228 Total Property and Related Expenses 14,079 14,307 42,404 42,942 Net Operating Income $ 33,202 $ 33,958 $ 100,418 $ 101,883 Non-Reportable Properties Revenues: Rental $ — $ 253 $ — $ 2,322 Tenant Reimbursements — (21 ) — 48 Total Revenues — 232 — 2,370 Property and Related Expenses: Property Operating — 8 — 148 Real Estate Taxes — — — — Total Property and Related Expenses — 8 — 148 Net Operating Income $ — $ 224 $ — $ 2,222 Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Reconciliation to Consolidated Net Income Total Segment Net Operating Income $ 52,451 $ 49,107 $ 156,003 $ 145,689 Expenses: General and Administrative 9,935 7,230 31,505 20,047 Acquisition-Related — 265 — 555 Depreciation and Amortization 28,489 27,208 84,342 81,572 Total Expenses 38,424 34,703 115,847 102,174 Income Before Other (Expenses) Income 14,027 14,404 40,156 43,515 Other Expenses and Income Interest and Other Income 52 255 144 573 Interest Expense (12,352 ) (13,685 ) (38,397 ) (41,653 ) Interest Expense and Net Change in Fair Value of Non-Qualifying Derivative Financial Instruments 23 68 66 80 Gain on Sale of Real Estate — 13,175 5,844 13,175 Income Before Provision for Income Taxes and Equity in Income of Unconsolidated Entities 1,750 14,217 7,813 15,690 Benefit (Provision) for Income Taxes 42 (140 ) (521 ) (579 ) Equity in Income of Unconsolidated Entities 4,238 4,391 14,419 11,829 Net Income $ 6,030 $ 18,468 $ 21,711 $ 26,940 September 30, December 31, Assets 2015 2014 Industrial Properties $ 885,496 $ 916,038 Office Properties 1,442,978 1,504,285 Non-Segment Assets (1) 417,816 449,485 Total Assets $ 2,746,290 $ 2,869,808 _________ (1) Non-segment assets primarily include our investments in unconsolidated entities.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The following table reconciles the numerator and denominator in computing the Company's basic and diluted per-share computations for net income for the three and nine months ended September 30, 2015 and 2014 (in thousands except share data): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Numerator: Net Income $ 6,030 $ 18,468 $ 21,711 $ 26,940 Allocation to Participating Securities (Nonvested Restricted Shares and Vested RSUs) (36 ) (101 ) (116 ) (353 ) Numerator for Basic and Diluted Net Income $ 5,994 $ 18,367 $ 21,595 $ 26,587 Denominator: Basic Weighted Average Shares Outstanding 236,902,841 236,954,218 236,915,614 236,847,551 Effect of Dilutive Securities - Non-Vested Time-Based RSUs and PSUs 10,453 — 35,923 — Diluted Weighted Average Shares Outstanding 236,913,294 236,954,218 236,951,537 236,847,551 Basic and Diluted Earnings Per Share: Net Income per Share $ 0.03 $ 0.08 $ 0.09 $ 0.11 Share-based payment awards that contain non-forfeitable rights to dividend or dividend equivalents are considered participating securities and are considered in our basic earnings per share calculation. The impact of potentially dilutive common shares, including both Time-Based RSUs and PSUs, are considered in our diluted earnings per share calculation. We did not include the PSUs in our calculation of diluted earnings per share for the three months ended September 30, 2015 as they would be anti-dilutive.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 20, 2015, our Board of Trustees approved a monthly distribution of $0.0425 per common share for the month of November 2015 payable on December 8, 2015 to all shareholders of record on November 30, 2015.

Basis of Presentation and Sum25

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") and reflect the accounts of the Company, CSP OP and its consolidated subsidiaries. The Company consolidates its wholly-owned properties and joint ventures it controls through either 1) voting rights or similar rights or 2) by means other than voting rights if the Company is deemed to be the primary beneficiary of a variable interest entity. All intercompany accounts and transactions are eliminated in consolidation. Certain information and footnotes required for annual financial statement presentation have been condensed or excluded pursuant to Securities and Exchange Commission (the "SEC") rules and regulations. Accordingly, our interim financial statements do not include all of the information and disclosures required under GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary in all material respects to present fairly our financial position, results of our operations and cash flows as of and for the three and nine months ended September 30, 2015 have been made. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the results of operations to be expected for the entire year. The consolidated financial statements and notes thereto should be read in conjunction with our current Annual Report on Form 10-K, which contains the latest available audited consolidated financial statements and notes thereto, which are as of and for the year ended December 31, 2014 .
Use of Estimates	Use of Estimates The preparation of financial statements, in conformity with GAAP, requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Segment Information	Segment Information We currently operate our consolidated properties in two geographic areas, the United States and the United Kingdom. We view our consolidated property operations as two reportable segments, Industrial Properties and Office Properties, which participate in the acquisition, development, ownership, and operation of high quality real estate in their respective segments.
Revenue Recognition and Valuation of Receivables	Revenue Recognition and Valuation of Receivables All leases are classified as operating leases and minimum rents are recognized on a straight-line basis over the terms of the leases. The excess of rents recognized over amounts contractually due pursuant to the underlying leases is recorded as deferred rent. In connection with various leases, we have received irrevocable stand-by letters of credit totaling $20.6 million and $20.3 million as security for such leases at September 30, 2015 and December 31, 2014 , respectively. Reimbursements from tenants, consisting of amounts due from tenants for common area maintenance, real estate taxes, insurance and other recoverable costs, are recognized as revenue in the period the expenses are incurred. Tenant reimbursements are recognized and presented on a gross basis, when we are the primary obligor with respect to incurring expenses and with respect to having the credit risk. Tenant receivables and deferred rent receivables are carried net of the allowances for uncollectible current tenant receivables and deferred rent. Management's determination of the adequacy of these allowances is based primarily upon evaluations of historical loss experience, individual receivables, current economic conditions, and other relevant factors. The allowances are increased or decreased through the provision for bad debts.
Translation of Non-U.S. Currency Amounts	Translation of Non-U.S. Currency Amounts The financial statements and transactions of our United Kingdom properties are recorded in their functional currency, namely the Great Britain Pound ("GBP") and are then translated into U.S. dollars ("USD"). Assets and liabilities of these properties are denominated in the functional currency and are then translated at exchange rates in effect at the balance sheet date. Revenues and expenses are translated at the average exchange rate for the reporting period. Translation adjustments are reported in "Accumulated Other Comprehensive Income (Loss)," a component of Shareholders' Equity.
Income Taxes	Income Taxes We elected to be taxed as a REIT under the Internal Revenue Code commencing with our taxable year ended December 31, 2004. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we generally distribute at least 90% of our REIT taxable income (determined without regard to the dividends paid deduction and excluding net capital gain). It is our current intention to adhere to these requirements and maintain our REIT qualification. As a REIT, we generally will not be subject to corporate level U.S. federal income tax on net income we distribute to our shareholders. If we fail to qualify as a REIT in any taxable year, then we will be subject to U.S. federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. We believe that we have met all the REIT organizational and operational requirements for the nine months ended September 30, 2015 , and we were not subject to any U.S. federal income taxes, other than U.S. federal income taxes on income generated by our Taxable REIT Subsidiary. As such, we have not provided for income taxes other than as addressed below. ASC 740-10 Income Taxes requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary difference, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. No deferred tax assets or liabilities were recorded as of September 30, 2015 , other than as mentioned below related to the United Kingdom net operating losses. In addition, we believe that any current or deferred tax liability associated with our Taxable REIT Subsidiary would be de minimus . We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
Fair Value of Financial Instruments and Investments	Fair Value of Financial Instruments and Investments We generally determine or calculate the fair value of financial instruments using appropriate present value or other valuation techniques, such as discounted cash flow analyses, incorporating available market discount rate information for similar types of instruments and our estimates for non-performance and liquidity risk. These techniques are significantly affected by the assumptions used, including the discount rate, credit spreads, and estimates of future cash flow. The Investment Manager of CBRE Strategic Partners Asia applies valuation techniques for our investment carried at fair value based upon the application of the income approach, the direct market comparison approach, the replacement cost approach or third party appraisals to the underlying assets held in the unconsolidated entity in determining the net asset value attributable to our ownership interest therein. As of September 30, 2015 , the financial assets and liabilities recorded at fair value in our consolidated financial statements are our derivative instruments and our investment in CBRE Strategic Partners Asia. The remaining financial assets and liabilities which are only disclosed at fair value are comprised of all other notes payable, the unsecured line of credit and other debt instruments. We determined the fair value of our secured notes payable and other debt instruments by performing discounted cash flow analyses using an appropriate market discount rate. We calculate the market discount rate by obtaining period-end treasury rates for fixed-rate debt, or London Inter-Bank Offering Rate ("LIBOR") rates for variable-rate debt, for maturities that correspond to the maturities of our debt and then adding an appropriate credit spread derived from information obtained from third-party financial institutions. These credit spreads take into account factors such as our credit standing, the maturity of the debt, whether the debt is secured or unsecured, and the loan-to-value ratios of the debt. The carrying amounts of our cash and cash equivalents, restricted cash, tenant and other receivables and accounts payable approximate fair value due to their short-term maturities.
Share-based Compensation	Share-based Compensation For share-based awards for which there is no pre-established performance period, we recognize compensation costs over the service vesting period, which represents the requisite service period, on a straight-line basis. For share-based awards with service or market conditions, we record the cost of the awards based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award. No compensation cost is recognized for equity instruments for which employees do not render the requisite service. For share-based awards in which the performance period precedes the grant date, we recognize compensation costs straight-lined over the requisite service period, which includes both the performance and service vesting periods. During the performance period for a share-based award program, we estimate the total compensation cost of the potential future awards. We then record compensation costs equal to the portion of the requisite service period that has elapsed through the end of the reporting period. For share-based awards granted by the Company, CSP OP issues a number of common units equal to the number of common shares ultimately granted by us in respect of such awards.
Reclassifications	Reclassifications We have reclassified certain amounts in our previously issued consolidated statements of cash flows to conform to current period presentation. On our September 30, 2014 statement of cash flows, we reclassified $1.1 million and $0.4 million from "Accounts Payable, Accrued Expenses and Other Liabilities" and "Prepaid Expenses and Other Assets," respectively, to "Prepaid Tenant Improvement Amortization" and "Lease Inducement Amortization", respectively, which represent newly created line items. None of the reclassifications reflect corrections to any amounts.
New Accounting Standards	New Accounting Standards In January 2015, the FASB issued ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items . The ASU is a part of the Simplification Initiative, to identify, evaluate, and improve areas of generally accepted accounting principles (GAAP) for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to the users of financial statements. The new standard eliminates the requirements for reporting entities to consider whether an underlying event or transaction is extraordinary but retains the presentation and disclosure guidance for items that are unusual in nature and occur infrequently. The ASU applies to all entities and is effective for fiscal years beginning after December 15, 2015, and interim periods thereafter, with early adoption permitted. The adoption of this guidance is not anticipated to have a material impact on our consolidated financial statements or notes to our consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidated (Topic 810): Amendments to the Consolidation Analysis . The ASU changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. Key amendments under the new standard include the following: evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; elimination of the presumption that a general partner should consolidate a limited partnership; consolidation analysis of reporting entities that are involved with variable interest entities (VIEs), particularly those that have fee arrangements and related party relationship; addition of scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements similar to those for registered money market funds. The ASU applies to all reporting entities that are required to evaluate whether they should consolidate certain legal entities and is effective for fiscal years beginning after December 15, 2015, and interim periods thereafter, with early adoption permitted. We are still assessing the impact of this guidance on our consolidated financial statements and notes to our consolidated financial statements. In April 7, 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . This ASU addresses balance sheet presentation requirements for debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding debt liability. This will make the presentation of debt issuance costs consistent with the presentation of debt discounts or premiums. The recognition and measurement guidance for debt issuance costs is not affected. The guidance is effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. For all other entities, it is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. Upon adoption, an entity must apply the new guidance retrospectively to all prior periods presented in the financial statements. An entity is also required in the year of adoption (and in interim periods within that year) to provide certain disclosures about the change in accounting principle, including the nature of and reason for the change, the transition method, a description of the prior-period information that has been retrospectively adjusted and the effect of the change on the financial statement line items (that is, debt issuance cost asset and the debt liability). We are still assessing the impact of this guidance on our consolidated financial statements and notes to our consolidated financial statements. In July 2015, the FASB deferred the effective date of ASU No. 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including the guidance on real estate derecognition for most transactions. Entities have the option of using either a full retrospective or a modified approach to adopt the guidance in ASU 2014-09. For public entities, the ASU is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2017, with early adoption permitted. We are assessing the impact of this guidance on our consolidated financial statements and notes to our consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805) . This ASU requires an acquirer in a business combination to recognize adjustments to estimated amounts identified during the measurement period in the reporting period in which the adjustment amounts are determined. The acquirer must record the effect of the adjustments on earnings as if the accounting had been completed at the acquisition date and the acquirer must disclose in its financial statements the portion of the amounts recorded in each line item of current-period earnings that would have been recorded in previous periods if the adjustments to estimated amounts had been recognized as of the acquisition date. For public entities, this guidance is effective for fiscal years beginning after December 15, 2015, including interim periods with those fiscal years, with early adoption permitted. Application of the guidance is prospective. We are still assessing the impact of this guidance on our consolidated financial statements and notes to our consolidated financial statements.

Investments in Unconsolidated26

Investments in Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Real Estate Properties	As of September 30, 2015 and December 31, 2014 , we owned the following number of properties through unconsolidated entities: Ownership % Number of Properties September 30, December 31, 2015 2014 Duke JV 80.0% 13 14 European JV 80.0% 9 9 UK JV 80.0% 3 3 CBRE Strategic Partners Asia 5.07% 2 3 27 29
Investments in Unconsolidated Entities	Investments in unconsolidated entities at September 30, 2015 and December 31, 2014 consist of the following (in thousands): September 30, December 31, 2015 2014 Duke JV $ 221,716 $ 239,376 European JV 127,135 144,141 UK JV 31,175 33,189 Afton Ridge — 117 CBRE Strategic Partners Asia 5,194 6,870 $ 385,220 $ 423,693
Summary of Investments in Unconsolidated Entities	The following is a summary of the investments in unconsolidated entities for the nine months ended September 30, 2015 and the year ended December 31, 2014 (in thousands): September 30, December 31, 2015 2014 Investment Balance, January 1 $ 423,693 $ 514,802 Contributions — 7,625 Company's Equity in Net Income (including adjustments for basis differences) 14,419 28,823 Other Comprehensive Loss of Unconsolidated Entities (12,038 ) (22,342 ) Distributions (40,854 ) (105,215 ) Investment Balance, End of Period $ 385,220 $ 423,693
Consolidated Balance Sheet	The following are the balance sheets of our investments in unconsolidated entities at September 30, 2015 (in thousands): Duke JV European JV Other (2) Total Assets Investments in Real Estate (1) $ 312,494 $ 248,204 $ 147,646 $ 708,344 Other Assets 28,523 40,130 13,910 82,563 Total Assets $ 341,017 $ 288,334 $ 161,556 $ 790,907 Liabilities and Equity Secured Notes Payable, net $ 56,390 $ 124,884 $ — $ 181,274 Other Liabilities 8,025 4,531 16,285 28,841 Total Liabilities 64,415 129,415 16,285 210,115 CSP Equity 221,716 127,135 36,369 385,220 Other Investors' Equity 54,886 31,784 108,902 195,572 Total Liabilities and Equity $ 341,017 $ 288,334 $ 161,556 $ 790,907 __________ (1) Includes REIT Basis Adjustments for costs incurred by the Company outside of the Duke/Hulfish, LLC joint venture (the "Duke JV") that are directly capitalizable to its investment in real estate assets acquired, including acquisition costs paid to our former investment advisor prior to January 1, 2009. (2) Includes the Goodman Princeton Holdings (Jersey) Limited joint venture (the "UK JV") and CBRE Strategic Partners Asia. The following are the balance sheets of our investments in unconsolidated entities at December 31, 2014 (in thousands): Duke JV European JV Other (2) Total Assets Investments in Real Estate (1) $ 323,236 $ 274,128 $ 186,360 $ 783,724 Real Estate Investments and Other Assets Held-for-Sale 17,230 — — 17,230 Other Assets 32,474 49,435 11,553 93,462 Total Assets $ 372,940 $ 323,563 $ 197,913 $ 894,416 Liabilities and Equity Liabilities Related to Real Estate Investments Held-for-Sale $ 11,048 $ — $ — $ 11,048 Secured Notes Payable, net 57,222 135,173 — 192,395 Other Liabilities 6,013 8,214 17,093 31,320 Total Liabilities 74,283 143,387 17,093 234,763 CSP Equity 239,376 144,141 40,176 423,693 Other Investors' Equity 59,281 36,035 140,644 235,960 Total Liabilities and Equity $ 372,940 $ 323,563 $ 197,913 $ 894,416 __________ (1) Includes REIT Basis Adjustments for costs incurred by the Company outside of the Duke JV that are directly capitalizable to its investment in real estate assets acquired, including acquisition costs paid to our former investment advisor prior to January 1, 2009. (2) Includes UK JV, Afton Ridge, and CBRE Strategic Partners Asia.
Consolidated Statement of Operations	The following are the statements of operations for our investments in unconsolidated entities for the three months ended September 30, 2015 and September 30, 2014 (in thousands): Three Months Ended September 30, 2015 September 30, 2014 Duke JV European JV Other (1) Total Duke JV European JV Other (2) Total Total Revenue $ 12,016 $ 6,515 $ (887 ) $ 17,644 $ 14,331 $ 7,114 $ 4,395 $ 25,840 Operating Expenses 3,106 1,170 598 4,874 3,980 722 820 5,522 Net Operating Income 8,910 5,345 (1,485 ) 12,770 10,351 6,392 3,575 20,318 Depreciation and Amortization 4,960 2,383 490 7,833 6,611 3,061 532 10,204 Interest Expense 751 946 — 1,697 1,031 1,139 — 2,170 Gain on Sale of Real Estate (145 ) — — (145 ) — — — — Net Income (Loss) 3,054 2,016 (1,975 ) 3,095 2,709 2,192 3,043 7,944 Company Share in Net Income 2,443 1,613 208 4,264 2,168 1,754 490 4,412 Adjustments for REIT basis (26 ) — — (26 ) (21 ) — — (21 ) CSP Equity in Net Income $ 2,417 $ 1,613 $ 208 $ 4,238 $ 2,147 $ 1,754 $ 490 $ 4,391 __________ (1) Includes UK JV and CBRE Strategic Partners Asia. (2) Includes UK JV, Afton Ridge, and CBRE Strategic Partners Asia. The following are the statements of operations for our investments in unconsolidated entities for the nine months ended September 30, 2015 and September 30, 2014 (in thousands): Nine Months Ended September 30, 2015 September 30, 2014 Duke JV European JV Other (1) Total Duke JV European JV Other (2) Total Total Revenue $ 35,806 $ 19,188 $ (1,074 ) $ 53,920 $ 43,684 $ 22,233 $ 5,258 $ 71,175 Operating Expenses 9,653 3,041 1,779 14,473 13,302 2,714 2,307 18,323 Net Operating Income 26,153 16,147 (2,853 ) 39,447 30,382 19,519 2,951 52,852 Depreciation and Amortization 15,393 7,416 1,452 24,261 20,810 9,077 1,583 31,470 Interest Expense 2,300 2,820 — 5,120 3,106 3,437 — 6,543 Gain on Sale of Real Estate 2,894 — — 2,894 — — — — Loss on Extinguishment of Debt (73 ) — — (73 ) — — — — Net Income (Loss) 11,281 5,911 (4,305 ) 12,887 6,466 7,005 1,368 14,839 Company Share in Net Income 9,024 4,729 745 14,498 5,179 5,604 1,129 11,912 Adjustments for REIT basis (79 ) — — (79 ) (83 ) — — (83 ) CSP Equity in Net Income $ 8,945 $ 4,729 $ 745 $ 14,419 $ 5,096 $ 5,604 $ 1,129 $ 11,829 __________ (1) Includes UK JV and CBRE Strategic Partners Asia. (2) Includes UK JV, Afton Ridge, and CBRE Strategic Partners Asia.

Deferred Leasing Costs and In27

Deferred Leasing Costs and Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table summarizes our deferred leasing costs and intangible assets, including acquired above-market leases, acquired in-place leases and other intangible assets and intangible liabilities, including acquired below-market leases and acquired above-market ground lease obligations (in thousands): September 30, December 31, 2015 2014 Deferred Leasing Costs and Intangible Assets, Net: Deferred Leasing Costs $ 36,098 $ 22,481 Accumulated Amortization (6,687 ) (4,218 ) Deferred Leasing Costs, Net 29,411 18,263 Above-Market Leases 63,566 63,566 Accumulated Amortization (36,686 ) (30,311 ) Above-Market Leases, Net 26,880 33,255 In-Place Leases 290,758 300,124 Accumulated Amortization (154,095 ) (132,414 ) In-Place Leases, Net 136,663 167,710 Other Intangible Assets 1,425 1,425 Accumulated Amortization (270 ) (163 ) Other Intangible Assets, Net 1,155 1,262 Total Deferred Leasing Costs and Intangible Assets, Net $ 194,109 $ 220,490 Intangible Liabilities, Net: Below-Market Leases $ 46,766 $ 51,653 Accumulated Amortization (26,223 ) (26,675 ) Below-Market Leases, Net 20,543 24,978 Above-Market Ground Lease Obligation 1,501 1,501 Accumulated Amortization (285 ) (231 ) Above-Market Ground Lease Obligation, Net 1,216 1,270 Total Intangible Liabilities, Net $ 21,759 $ 26,248
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	The following table sets forth amortization related to intangible assets and liabilities for the three and nine months ended September 30, 2015 and 2014 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Deferred Leasing Costs (1) $ 932 $ 423 $ 2,473 $ 1,141 Above-Market Leases (2) 2,110 2,250 6,375 7,198 In-Place Leases (1) 8,953 9,162 27,564 27,915 Other Intangible Assets (1) 36 127 108 127 Below-Market Leases (2) (1,091 ) (1,077 ) (3,443 ) (3,142 ) Above-Market Ground Lease Obligation (3) (18 ) (18 ) (53 ) (53 ) __________ (1) The amortization of deferred leasing costs, in-place leases and other intangible assets are recorded to depreciation and amortization expense in the consolidated statements of operations for the periods presented. (2) The amortization of above-market leases and below-market leases are recorded as reductions and additions to rental income, respectively, in the consolidated statements of operations for the periods presented. (3) The amortization of the above-market ground lease obligation is recorded as a decrease to property operating expense in the consolidated statements of operations for the periods presented.
Schedule of Future Amortization of Acquisition Related Intangible Assets and Liabilities	The following is a schedule of future amortization of deferred leasing costs, intangible assets and liabilities as of September 30, 2015 (in thousands): Intangible Assets Intangible Liabilities Deferred Leasing Costs Acquired Above-Market Leases Acquired In-Place Leases Other Intangible Assets Acquired Below-Market Leases Above-Market Ground Lease Obligations Remaining 2015 $ 671 $ 2,090 $ 8,663 $ 36 $ 993 $ 18 2016 2,630 5,557 29,075 144 3,404 71 2017 2,476 4,466 24,603 144 2,912 71 2018 2,376 3,862 20,399 144 2,639 71 2019 2,173 3,300 16,633 144 2,418 71 Thereafter 19,085 7,605 37,290 543 8,177 914 $ 29,411 $ 26,880 $ 136,663 $ 1,155 $ 20,543 $ 1,216

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The terms of our unsecured revolving credit facility are set forth in the table below (in thousands): September 30, December 31, 2015 2014 Outstanding Borrowings $ 290,044 $ 200,044 Remaining Borrowing Capacity 559,956 649,956 Total Borrowing Capacity $ 850,000 $ 850,000 Interest Rate (1) 1.50 % 1.46 % Facility Fee (2) 30 bps 30 bps Maturity Date (3) January 15, 2018 January 15, 2018 __________ (1) Calculated based on one-month LIBOR plus 1.30% as of September 30, 2015 and December 31, 2014 . (2) The facility fee is based on the unsecured revolving credit facility's total borrowing capacity. (3) We may exercise an option to extend the maturity date by one year The terms of our unsecured term loan facilities and outstanding balances as of September 30, 2015 and December 31, 2014 are set forth in the table below (in thousands): Term Loan Facility Unswapped Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance September 30, December 31, 2015 2014 WF Term Loan #2 (2) LIBOR + 1.50% 2.49% 3/7/2018 $ 200,000 $ 200,000 WF Term Loan #3 (2) LIBOR + 1.50% 3.12% 1/15/2019 200,000 200,000 TD Term Loan (3) LIBOR + 1.75% 3.28% 3/6/2020 50,000 50,000 Capital One Term Loan (2) LIBOR + 1.75% 4.32% 1/31/2021 120,000 120,000 Total Unsecured Term Loan Facilities $ 570,000 $ 570,000 __________ (1) Represents the rate at which interest expense is recorded for financial reporting purposes, which reflects the effect of the interest rate swaps, excluding debt issuance costs. (2) As of September 30, 2015 and December 31, 2014, the applicable LIBOR rate was 0.197% and 0.156% , respectively, for these loans. (3) As of September 30, 2015 and December 31, 2014, the applicable LIBOR rate was 0.197% and 0.155% , respectively, for this loan Secured notes payable are summarized as follows (in thousands): Property Stated Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance September 30, December 31, 2015 2014 70 Hudson Street (2) 5.65% 5.15% 4/11/2016 $ 112,543 $ 114,108 Point West I - Swapped to Fixed 3.41% 3.41% 12/6/2016 10,472 10,716 100 Tice Blvd 5.97% 4.38% 9/15/2017 18,499 18,960 100 Tice Blvd 5.97% 4.38% 9/15/2017 18,499 18,960 4701 Gold Spike Drive (3) 4.45% 4.45% 3/1/2018 9,806 9,958 1985 International Way (3) 4.45% 4.45% 3/1/2018 6,813 6,920 3660 Deerpark Boulevard (3) 4.45% 4.45% 3/1/2018 7,043 7,153 Tolleson Commerce Park II (3) 4.45% 4.45% 3/1/2018 4,235 4,301 20000 S. Diamond Lake Road (3) 4.45% 4.45% 3/1/2018 6,169 6,265 Atrium I - Swapped to Fixed 3.78% 3.78% 5/31/2018 20,878 21,580 McAuley Place 3.98% 3.50% 9/1/2018 12,582 12,865 Easton III - Swapped to Fixed 3.95% 3.95% 1/31/2019 6,141 6,280 90 Hudson Street 5.66% 5.26% 5/1/2019 102,165 103,301 Fairforest Bldg. 6 5.42% 6.50% 6/1/2019 1,488 1,751 North Rhett I 5.65% 6.50% 8/1/2019 1,606 1,958 Kings Mountain II 5.47% 6.50% 1/1/2020 3,014 3,467 1 Rocket Road 6.60% 4.00% 8/1/2020 18,213 18,516 North Rhett II 5.20% 6.50% 10/1/2020 1,265 1,425 Mount Holly Bldg. 5.20% 6.50% 10/1/2020 1,265 1,425 Orangeburg Park Bldg. 5.20% 6.50% 10/1/2020 1,286 1,449 Kings Mountain I 5.27% 6.50% 10/1/2020 1,096 1,235 Ten Parkway North 4.75% 4.75% 1/1/2021 11,226 11,469 Union Cross Bldg. II 5.53% 6.50% 6/1/2021 5,192 5,755 Union Cross Bldg. I 5.50% 6.50% 7/1/2021 1,709 1,892 Norman Pointe I 5.24% 3.50% 10/1/2021 19,914 20,177 Norman Pointe II 5.24% 3.50% 10/1/2021 21,924 22,214 The Landings I 5.24% 3.50% 10/1/2021 14,987 15,185 The Landings II 5.24% 3.50% 10/1/2021 13,219 13,393 Fairforest Bldg. 5 6.33% 6.50% 2/1/2024 7,203 7,678 North Rhett IV 5.80% 6.50% 2/1/2025 7,427 7,862 One Wayside Road (4) 5.66% 5.25% 8/1/2015 — 12,938 One Wayside Road (4) 5.92% 5.25% 8/1/2015 — 10,854 Lakeside Office Center (5) 6.03% 6.03% 9/1/2015 — 8,617 Celebration Office Center III (6) 4.25% 2.50% 12/1/2015 — 8,817 Property Stated Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance September 30, December 31, 2015 2014 22535 Colonial Pkwy (6) 4.25% 2.50% 12/1/2015 — 7,889 Northpoint III (6) 4.25% 2.50% 12/1/2015 — 10,209 Goodyear Crossing II (6) 4.25% 2.50% 12/1/2015 — 19,489 3900 North Paramount Parkway (6) 4.25% 2.50% 12/1/2015 — 7,656 3900 South Paramount Parkway (6) 4.25% 2.50% 12/1/2015 — 7,656 1400 Perimeter Park Drive (6) 4.25% 2.50% 12/1/2015 — 2,320 Miramar I (6) 4.25% 2.50% 12/1/2015 — 9,095 Miramar II (6) 4.25% 2.50% 12/1/2015 — 12,250 Total Secured Notes Payable 467,879 596,008 Plus Premium 11,587 15,494 Less Discount (727 ) (894 ) Total Secured Notes Payable, Net $ 478,739 $ 610,608 __________ (1) Represents the rate at which interest expense is recorded for financial reporting purposes, which reflects the amortization of any discounts/premiums, excluding debt issuance costs. (2) In accordance with the provisions of this loan, beginning in February 2015, the property's excess cash proceeds after the payment of debt service, impounds and budgeted operating expenses are being held by the lender until the loan is repaid or the property is re-leased to the existing tenant under terms described in the loan agreement. (3) These five loans are cross-collaterialized. (4) This loan was paid off in full on February 2, 2015 prior to the maturity date. (5) This loan was paid off in full on June 3, 2015 prior to the maturity date. (6) These loans were paid off in full on September 2, 2015, prior to their maturity dates.
Schedule of Maturities of Long-term Debt	The minimum principal payments due for our secured notes payable, unsecured term loan facilities and unsecured revolving credit facility are as follows as of September 30, 2015 (in thousands): Remaining 2015 $ 3,588 2016 134,612 2017 46,822 2018 562,612 2019 308,768 Thereafter 271,521 $ 1,327,923

Risk Management and Use of Fi29

Risk Management and Use of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swap Derivative Instruments	The following table sets forth the terms of our interest rate swaps at September 30, 2015 and December 31, 2014 (amounts in thousands): Notional Amount Fair Value Rate Type of Hedging Instrument September 30, December 31, September 30, December 31, September 30, December 31, Index Maturity Date 2015 2014 2015 2014 2015 2014 Interest Rate Swap (1) $ 10,472 $ 10,716 $ (118 ) $ (135 ) 1.2 % 1.3 % LIBOR 12/6/2016 Interest Rate Swap (2) 200,000 200,000 (1,143 ) 1,467 0.8 % 0.8 % LIBOR 3/7/2018 Interest Rate Swap (1) 20,878 21,580 (508 ) (354 ) 1.6 % 1.6 % LIBOR 5/31/2018 Interest Rate Swap 200,000 200,000 (4,467 ) (1,540 ) 1.4 % 1.5 % LIBOR 1/15/2019 Interest Rate Swap (1) 6,141 6,280 (194 ) (127 ) 1.7 % 1.8 % LIBOR 1/31/2019 Interest Rate Swap (2) 50,000 50,000 (866 ) 266 1.3 % 1.4 % LIBOR 3/6/2020 Interest Rate Swap 120,000 120,000 (7,819 ) (5,543 ) 2.4 % 2.4 % LIBOR 1/31/2021 __________ (1) We assumed this swap in connection with the purchase of the Duke Portfolio on March 1, 2013. This swap is considered a hedging instrument under ASC 815-20 as of September 30, 2015 . The swap was not considered a hedging instrument under ASC 815-20 during the period from March 1, 2013 to March 31, 2013. (2) We entered into these swaps in connection with the origination of the TD Term Loan and WF Term Loan #1 in March 2013. These swaps are considered hedging instruments under ASC 815-20 as of September 30, 2015 . These swaps were not considered hedging instruments under ASC 815-20 during the period from March 11, 2013 and March 12, 2013, respectively, to May 29, 2013.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The asset and liability balances presented in the table below reflect the gross amounts of derivatives recorded in the consolidated balance sheets (in thousands): Asset Derivatives Liability Derivatives Fair Value Fair Value September 30, December 31, September 30, December 31, Type of Instrument Balance Sheet Location 2015 2014 Balance Sheet Location 2015 2014 Derivatives designated as hedging instruments Interest Rate Swaps Prepaid Expenses and Other Assets $ — $ 1,733 Accounts Payable, Accrued Expenses and Other Liabilities $ 15,115 $ 7,699
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The table below presents the effect of our derivative instruments on our consolidated statement of operations and consolidated statement of comprehensive income for the three and nine months ended September 30, 2015 and 2014 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Derivatives Designated as Cash Flow Hedges: (Loss) Gain Recognized in Other Comprehensive Income (OCI) (Effective Portion) $ (8,708 ) $ 1,545 $ (15,671 ) $ (11,041 ) Loss Reclassified from AOCI into Interest Expense (Effective Portion) (2,159 ) (2,260 ) (6,456 ) (6,955 ) Net Change in Fair Value of Derivative Financial Instruments (Ineffective Portion and Amount Excluded from Effectiveness Testing) 23 68 66 80

Future Minimum Rents (Tables)

Future Minimum Rents (Tables)	9 Months Ended
	Sep. 30, 2015
Leases [Abstract]
Schedule of Minimum Future Rents to be Received on Non-cancelable Operating Leases	The following is a schedule of future minimum rents to be received on non-cancelable operating leases from consolidated properties as of September 30, 2015 (in thousands): Remaining 2015 $ 53,053 2016 196,630 2017 188,190 2018 174,713 2019 159,801 Thereafter 663,682 $ 1,436,069

Equity Incentive Plan and Per31

Equity Incentive Plan and Performance Bonus Plan (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following table summarizes the assumptions utilized in the Monte Carlo simulation pricing model: Assumptions Fair value per unit at March 13, 2015 $ 6.00 Expected share price volatility 22.0 % Dividend yield 6.0 % Risk-free interest rate 0.99 % Remaining expected life 2.8 years
Summary of Time-Based Restricted Common Shares	A summary of our Time-Based Restricted Common Shares from January 1, 2015 through September 30, 2015 is presented below: Nonvested Restricted Common Shares Common Shares Weighted-Average Grant Date Fair Value per Share Outstanding at January 1, 2015 800,699 $ 8.68 Granted (1) 200,000 8.10 Vested (1)(2) (766,463 ) 8.58 Forfeited (1,202 ) 8.37 Outstanding at September 30, 2015 233,034 $ 8.30 __________ (1) Shares granted to Mr. Cuneo were fully vested upon his retirement. (2) Total shares vested include 336,041 common shares that were tendered in accordance with the terms of our 2013 Equity Incentive Plan to satisfy minimum state tax withholding requirements related to the restricted common shares that have vested. We accept the return of shares at the current quoted closing share price of the Company's common shares on the NYSE to satisfy tax obligations.
Summary of Time-Based Restricted Share Units	A summary of our Time-Based RSUs from January 1, 2015 through September 30, 2015 is presented below: Nonvested RSUs Amount Weighted-Average Grant Date Fair Value Per Share Vested RSUs Total RSUs Outstanding at January 1, 2015 — $ — — — Granted 237,422 7.78 — 237,422 Vested (75,000 ) 7.78 75,000 — Forfeited (397 ) 7.78 — (397 ) Settled (1) — — (75,000 ) (75,000 ) Outstanding at September 30, 2015 162,025 $ 7.78 — 162,025 __________ (1) Represents vested RSUs that were settled in shares of the Company's common shares. Total shares settled include 38,806 shares that were tendered in accordance with the terms of our 2013 Equity Incentive Plan to satisfy minimum state tax withholding requirements related to the RSU settled. We accept the return of shares at the current quoted closing share price of the Company's common shares on the NYSE to satisfy tax obligations.
Summary of Performance Share Units	A summary of our PSUs from January 1, 2015 through September 30, 2015 is presented below: Nonvested PSUs Amount Weighted-Average Grant Date Fair Value Per Share Vested PSUs Total PSUs Outstanding at January 1, 2015 — $ — — — Granted 237,440 6.56 — 237,440 Vested (75,000 ) 7.78 75,000 — Forfeited (397 ) 6.00 — (397 ) Settled (1) — — (75,000 ) (75,000 ) Outstanding at September 30, 2015 162,043 $ 6.00 — 162,043 __________ (1) Represents vested PSUs that were settled in shares of the Company's common shares. Total shares settled include 38,888 shares that were tendered in accordance with the terms of our 2013 Equity Incentive Plan to satisfy minimum state tax withholding requirements related to the PSU settled. We accept the return of shares at the current quoted closing share price of the Company's common shares on the NYSE to satisfy tax obligations.
Summary of Compensation Expense and Details	2015 2014 (in thousands, except share data) Compensation Expense Recorded During the Nine Months Ended September 30 (1) $ 5,285 $ 1,924 Unamortized Compensation Costs $ 3,058 $ 7,351 Shares Available for the Future Awards (2) 3,323,441 4,041,992 __________ (1) 2015 compensation expense includes severance expense totaling $3.3 million . (2) Shares available for the future awards includes units under our 2013 Equity Incentive Plan.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Components of Accumulated Other Comprehensive Income	The following presents the changes in the balances of each component of accumulated other comprehensive income (loss) for the nine months ended September 30, 2015 and 2014 (in thousands): Foreign Currency Translation Gain (Loss) Swap Fair Value Adjustment Accumulated Other Comprehensive Income (Loss) Balance at January 1, 2015 $ (17,513 ) $ (5,756 ) $ (23,269 ) Other Comprehensive Loss Before Reclassifications (12,573 ) (15,671 ) (28,244 ) Amounts Reclassified from Accumulated Other Comprehensive Income to Interest Expense — 6,456 6,456 Balance at September 30, 2015 $ (30,086 ) $ (14,971 ) $ (45,057 ) Foreign Currency Translation Gain Swap Fair Value Adjustment Accumulated Other Comprehensive Income (Loss) Balance at January 1, 2014 $ 1,670 $ 2,926 $ 4,596 Other Comprehensive Income (Loss) Before Reclassifications (13,793 ) (11,041 ) (24,834 ) Amounts reclassified from Accumulated Other Comprehensive Income to Interest Expense — 6,955 6,955 Balance at September 30, 2014 $ (12,123 ) $ (1,160 ) $ (13,283 )

Fair Value of Financial Instr33

Fair Value of Financial Instruments and Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis	The following items are measured at fair value on a recurring basis and non-recurring basis at September 30, 2015 and December 31, 2014 (in thousands): As of September 30, 2015 Fair Value Measurements Using: Quoted Markets Prices (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets (Liabilities) Cash and Cash Equivalents $ 6,583 $ — $ — $ 6,583 Interest Rate Swaps Designated as Cash Flow Hedges - Assets — — — — Interest Rate Swaps Designated as Cash Flow Hedges - Liabilities — (15,115 ) — (15,115 ) Investment in CBRE Strategic Partners Asia — — 5,194 5,194 As of December 31, 2014 Fair Value Measurements Using: Quoted Markets Prices (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Assets (Liabilities) Cash and Cash Equivalents $ 1,573 $ — $ — $ 1,573 Interest Rate Swaps Designated as Cash Flow Hedges - Assets — 1,733 — 1,733 Interest Rate Swaps Designated as Cash Flow Hedges - Liabilities — (7,699 ) — (7,699 ) Investment in CBRE Strategic Partners Asia — — 6,870 6,870 Fair Value of Real Estate at Impairment (1) — — 94,000 94,000 __________ (1) Represents a non-recurring fair value measurement.
Investment in CBRE Strategic Partners Asia Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)	The following table presents our activity for our investment in CBRE Strategic Partners Asia measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2015 and 2014 , respectively (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Investment in CBRE Strategic Partners Asia Balance at January 1, 2015 $ 6,870 Distributions (1,385 ) Total Income on Fair Value Adjustment 762 Unrealized Loss in Fair Value Adjustment (1,053 ) Balance at September 30, 2015 $ 5,194 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Investment in CBRE Strategic Partners Asia Balance at January 1, 2014 $ 9,676 Distributions (2,724 ) Total Loss on Fair Value Adjustment (13 ) Balance at September 30, 2014 $ 6,939
Summary of Notes Payable and Estimated Fair Value	For disclosure purposes only, the following table summarizes our notes payable and their estimated fair value at September 30, 2015 and December 31, 2014 (in thousands): September 30, 2015 December 31, 2014 Financial Instrument Carrying Value Fair Value Carrying Value Fair Value Secured Notes Payable (1) $ 478,739 $ 495,673 $ 610,608 $ 628,194 Unsecured Term Loan Facilities (1) $ 570,000 $ 589,771 $ 570,000 $ 577,196 Unsecured Revolving Credit Facility (1) $ 290,044 $ 290,044 $ 200,044 $ 200,044 __________ (1) Items are measured using Level 2 inputs.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Minimum Commitment Under Ground Lease	The minimum commitment under the ground lease as of September 30, 2015 and thereafter is as follows (in thousands): Remaining 2015 $ 68 2016 273 2017 273 2018 276 2019 308 Thereafter 4,474 $ 5,672

Segment Disclosure (Tables)

Segment Disclosure (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Comparison of Net Operating Income	The following table compares the net operating income for the three and nine months ended September 30, 2015 and 2014 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Industrial Properties Revenues: Rental $ 18,493 $ 15,116 $ 55,448 $ 43,241 Tenant Reimbursements 4,787 3,997 14,667 11,967 Other Property Income 1,072 537 1,520 537 Total Revenues 24,352 19,650 71,635 55,745 Property and Related Expenses: Property Operating 1,345 1,355 4,576 4,061 Real Estate Taxes 3,758 3,370 11,474 10,100 Total Property and Related Expenses 5,103 4,725 16,050 14,161 Net Operating Income $ 19,249 $ 14,925 $ 55,585 $ 41,584 Office Properties Revenues: Rental $ 36,422 $ 37,022 $ 110,572 $ 110,737 Tenant Reimbursements 10,859 11,243 32,250 33,019 Other Property Income — — — 1,069 Total Revenues 47,281 48,265 142,822 144,825 Property and Related Expenses: Property Operating 7,143 7,615 21,828 22,714 Real Estate Taxes 6,936 6,692 20,576 20,228 Total Property and Related Expenses 14,079 14,307 42,404 42,942 Net Operating Income $ 33,202 $ 33,958 $ 100,418 $ 101,883 Non-Reportable Properties Revenues: Rental $ — $ 253 $ — $ 2,322 Tenant Reimbursements — (21 ) — 48 Total Revenues — 232 — 2,370 Property and Related Expenses: Property Operating — 8 — 148 Real Estate Taxes — — — — Total Property and Related Expenses — 8 — 148 Net Operating Income $ — $ 224 $ — $ 2,222
Reconciliation to Consolidated Net Income (Loss)	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Reconciliation to Consolidated Net Income Total Segment Net Operating Income $ 52,451 $ 49,107 $ 156,003 $ 145,689 Expenses: General and Administrative 9,935 7,230 31,505 20,047 Acquisition-Related — 265 — 555 Depreciation and Amortization 28,489 27,208 84,342 81,572 Total Expenses 38,424 34,703 115,847 102,174 Income Before Other (Expenses) Income 14,027 14,404 40,156 43,515 Other Expenses and Income Interest and Other Income 52 255 144 573 Interest Expense (12,352 ) (13,685 ) (38,397 ) (41,653 ) Interest Expense and Net Change in Fair Value of Non-Qualifying Derivative Financial Instruments 23 68 66 80 Gain on Sale of Real Estate — 13,175 5,844 13,175 Income Before Provision for Income Taxes and Equity in Income of Unconsolidated Entities 1,750 14,217 7,813 15,690 Benefit (Provision) for Income Taxes 42 (140 ) (521 ) (579 ) Equity in Income of Unconsolidated Entities 4,238 4,391 14,419 11,829 Net Income $ 6,030 $ 18,468 $ 21,711 $ 26,940
Condensed Assets	September 30, December 31, Assets 2015 2014 Industrial Properties $ 885,496 $ 916,038 Office Properties 1,442,978 1,504,285 Non-Segment Assets (1) 417,816 449,485 Total Assets $ 2,746,290 $ 2,869,808 _________ (1) Non-segment assets primarily include our investments in unconsolidated entities.

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the numerator and denominator in computing the Company's basic and diluted per-share computations for net income for the three and nine months ended September 30, 2015 and 2014 (in thousands except share data): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Numerator: Net Income $ 6,030 $ 18,468 $ 21,711 $ 26,940 Allocation to Participating Securities (Nonvested Restricted Shares and Vested RSUs) (36 ) (101 ) (116 ) (353 ) Numerator for Basic and Diluted Net Income $ 5,994 $ 18,367 $ 21,595 $ 26,587 Denominator: Basic Weighted Average Shares Outstanding 236,902,841 236,954,218 236,915,614 236,847,551 Effect of Dilutive Securities - Non-Vested Time-Based RSUs and PSUs 10,453 — 35,923 — Diluted Weighted Average Shares Outstanding 236,913,294 236,954,218 236,951,537 236,847,551 Basic and Diluted Earnings Per Share: Net Income per Share $ 0.03 $ 0.08 $ 0.09 $ 0.11

Organization and Nature of Bu37

Organization and Nature of Business - Narrative (Details) ft² in Millions	Sep. 30, 2015ft²PropertycountryentityState$ / shares	Dec. 31, 2014Property$ / shares
Schedule of Equity Method Investments [Line Items]
Common shares, par value (in usd per share) | $ / shares	$ 0.01	$ 0.01
Number of real estate properties	27	29
Equity method investments, unconsolidated entities, number | entity	4
Number of countries in which unconsolidated properties located | country	3
Unconsolidated Properties
Schedule of Equity Method Investments [Line Items]
Number of real estate properties	25
Net rentable area | ft²	12.3
Percentage of area leased property	99.90%
Number of states In which unconsolidated properties located | State	7
Triple Net Lease, Single Tenant Properties | Unconsolidated Properties
Schedule of Equity Method Investments [Line Items]
Net rentable area | ft²	11.5
Property subject to or available for operating lease, number of units	20
CSP OP
Schedule of Equity Method Investments [Line Items]
Interest owned	100.00%
Consolidated Entities
Schedule of Equity Method Investments [Line Items]
Number of real estate properties	100
Number of states In which consolidated properties located | State	18
Net rentable area | ft²	24.9
Percentage of area leased property	97.60%
Consolidated Entities | Triple Net Lease, Single Tenant Properties
Schedule of Equity Method Investments [Line Items]
Net rentable area | ft²	20.2
Property subject to or available for operating lease, number of units	76

Basis of Presentation and Sum38

Basis of Presentation and Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)$ / €$ / £	Sep. 30, 2014USD ($)$ / €$ / £	Sep. 30, 2015USD ($)segment$ / €$ / £	Sep. 30, 2014USD ($)$ / €$ / £	Dec. 31, 2014USD ($)$ / €$ / £
Schedule of Equity Method Investments [Line Items]
Number of reportable segments | segment			2
Irrevocable stand-by letters of credit	$ 20,600		$ 20,600		$ 20,300
Allowance for uncollectible rent receivable	108		108		$ 62
Income tax expense (benefit)	$ (42)	$ 140	$ 521	$ 579
United Kingdom
Schedule of Equity Method Investments [Line Items]
Exchange rate | $ / £	1.5129		1.5129		1.5576
Profit and loss weighted average exchange rate | $ / £	1.5559	1.6862	1.5354	1.6737
Deferred tax assets	$ 300		$ 300
Valuation allowance	$ 300		$ 300
European
Schedule of Equity Method Investments [Line Items]
Exchange rate | $ / €	1.1178		1.1178		1.2099
Profit and loss weighted average exchange rate | $ / €	1.1114	1.3402	1.1197	1.3611
Foreign Tax Authority
Schedule of Equity Method Investments [Line Items]
Statutory tax rate on real property operating results			20.00%
Accounts Payable and Accrued Liabilities
Schedule of Equity Method Investments [Line Items]
Reclassification adjustment			$ 1,100
Prepaid Expenses and Other Current Assets
Schedule of Equity Method Investments [Line Items]
Reclassification adjustment			$ 0

Investment in Real Estate Act39

Investment in Real Estate Activity - Narrative (Details) $ in Thousands, a in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)ft²a	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)ft²a	Sep. 30, 2014USD ($)	Apr. 30, 2015USD ($)	Jan. 23, 2015USD ($)	Dec. 31, 2014USD ($)
Real Estate Properties [Line Items]
Real estate investment property acquired	$ 2,294,851		$ 2,294,851				$ 2,329,163
Gross sales price of investment real estate					$ 42,200	$ 20,600
Gain on sale of real estate	$ 0	$ 13,175	$ 5,844	$ 13,175
Undeveloped Parcel in Phoenix, AZ
Real Estate Properties [Line Items]
Area of land | a	11.8		11.8
Real estate investment property acquired	$ 1,700		$ 1,700
300 Constitution Drive
Real Estate Properties [Line Items]
Area of land | ft²	330,000		330,000
Gross sales price of investment real estate	$ 20,300		$ 20,300
Gain on sale of real estate			$ 3,500
225 Summit Avenue
Real Estate Properties [Line Items]
Area of land | ft²	142,500		142,500
Gross sales price of investment real estate	$ 37,000		$ 37,000
Gain on sale of real estate			$ 2,300

Investments in Unconsolidated40

Investments in Unconsolidated Entities - Narrative (Details) - USD ($) $ in Thousands	Apr. 30, 2015	Jan. 23, 2015	Sep. 30, 2015	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]
Gross sales price of investment real estate	$ 42,200	$ 20,600
Sales of real estate property	$ 1,400	16,400
Gain on sale of real estate		$ 2,400	$ 5,844	$ 13,175

Investments in Unconsolidated41

Investments in Unconsolidated Entities - Properties (Details) - Property	Sep. 30, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Number of Properties	27	29
Duke Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Number of Properties	13	14
European JV
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Number of Properties	9	9
UK JV
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Number of Properties	3	3
CBRE Strategic Partners Asia
Schedule of Equity Method Investments [Line Items]
Ownership %	5.07%
Number of Properties	2	3

Investments in Unconsolidated42

Investments in Unconsolidated Entities - Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 385,220	$ 423,693	$ 514,802
Duke Joint Venture
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	221,716	239,376
European JV
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	127,135	144,141
UK JV
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	31,175	33,189
Afton Ridge Joint Venture
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	0	117
CBRE Strategic Partners Asia
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 5,194	$ 6,870

Investments in Unconsolidated43

Investments in Unconsolidated Entities - Investments Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Investments in Unconsolidated Entities [Roll Forward]
Investment Balance, January 1			$ 423,693	$ 514,802	$ 514,802
Contributions			0		7,625
Company's Equity in Net Income (including adjustments for basis differences)	$ 4,238	$ 4,391	14,419	$ 11,829	28,823
Other Comprehensive Loss of Unconsolidated Entities			(12,038)		(22,342)
Distributions			(40,854)		(105,215)
Investment Balance, End of Period	$ 385,220		$ 385,220		$ 423,693

Investments in Unconsolidated44

Investments in Unconsolidated Entities - Consolidated Balance Sheet (Details) - USD ($) $ in Thousands		Sep. 30, 2015		Dec. 31, 2014
Assets
Assets		$ 790,907		$ 894,416
Liabilities and Equity
Liabilities		210,115		234,763
CSP Equity		385,220		423,693
Other Investors' Equity		195,572		235,960
Total Liabilities and Equity		790,907		894,416
Investments in Real Estate
Assets
Assets		708,344	[1]	783,724	[2]
Real Estate Investments and Other Assets Held-for-Sale
Assets
Assets				17,230
Other Assets
Assets
Assets		82,563		93,462
Liabilities Related to Real Estate Investments Held-for-Sale
Liabilities and Equity
Liabilities				11,048
Secured Note Payable, net
Liabilities and Equity
Liabilities		181,274		192,395
Other Liabilities
Liabilities and Equity
Liabilities		28,841		31,320
Duke Joint Venture
Assets
Assets		341,017		372,940
Liabilities and Equity
Liabilities		64,415		74,283
CSP Equity		221,716		239,376
Other Investors' Equity		54,886		59,281
Total Liabilities and Equity		341,017		372,940
Duke Joint Venture | Investments in Real Estate
Assets
Assets		312,494	[1]	323,236	[2]
Duke Joint Venture | Real Estate Investments and Other Assets Held-for-Sale
Assets
Assets				17,230
Duke Joint Venture | Other Assets
Assets
Assets		28,523		32,474
Duke Joint Venture | Liabilities Related to Real Estate Investments Held-for-Sale
Liabilities and Equity
Liabilities				11,048
Duke Joint Venture | Secured Note Payable, net
Liabilities and Equity
Liabilities		56,390		57,222
Duke Joint Venture | Other Liabilities
Liabilities and Equity
Liabilities		8,025		6,013
European JV
Assets
Assets		288,334		323,563
Liabilities and Equity
Liabilities		129,415		143,387
CSP Equity		127,135		144,141
Other Investors' Equity		31,784		36,035
Total Liabilities and Equity		288,334		323,563
European JV | Investments in Real Estate
Assets
Assets		248,204	[1]	274,128	[2]
European JV | Real Estate Investments and Other Assets Held-for-Sale
Assets
Assets				0
European JV | Other Assets
Assets
Assets		40,130		49,435
European JV | Liabilities Related to Real Estate Investments Held-for-Sale
Liabilities and Equity
Liabilities				0
European JV | Secured Note Payable, net
Liabilities and Equity
Liabilities		124,884		135,173
European JV | Other Liabilities
Liabilities and Equity
Liabilities		4,531		8,214
Other
Assets
Assets		161,556	[3]	197,913	[4]
Liabilities and Equity
Liabilities		16,285	[3]	17,093	[4]
CSP Equity		36,369	[3]	40,176	[4]
Other Investors' Equity		108,902	[3]	140,644	[4]
Total Liabilities and Equity		161,556	[3]	197,913	[4]
Other | Investments in Real Estate
Assets
Assets		147,646	[1],[3]	186,360	[2],[4]
Other | Real Estate Investments and Other Assets Held-for-Sale
Assets
Assets	[4]			0
Other | Other Assets
Assets
Assets		13,910	[3]	11,553	[4]
Other | Liabilities Related to Real Estate Investments Held-for-Sale
Liabilities and Equity
Liabilities	[4]			0
Other | Secured Note Payable, net
Liabilities and Equity
Liabilities		0	[3]	0	[4]
Other | Other Liabilities
Liabilities and Equity
Liabilities		$ 16,285	[3]	$ 17,093	[4]
[1]	Includes REIT Basis Adjustments for costs incurred by the Company outside of the Duke/Hulfish, LLC joint venture (the "Duke JV") that are directly capitalizable to its investment in real estate assets acquired, including acquisition costs paid to our former investment advisor prior to January 1, 2009.
[2]	Includes REIT Basis Adjustments for costs incurred by the Company outside of the Duke JV that are directly capitalizable to its investment in real estate assets acquired, including acquisition costs paid to our former investment advisor prior to January 1, 2009.
[3]	Includes the Goodman Princeton Holdings (Jersey) Limited joint venture (the "UK JV") and CBRE Strategic Partners Asia.
[4]	Includes UK JV, Afton Ridge, and CBRE Strategic Partners Asia.

Investments in Unconsolidated45

Investments in Unconsolidated Entities - Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended				12 Months Ended
	Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014		Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Total Revenue	$ 17,644		$ 25,840		$ 53,920		$ 71,175
Operating Expenses	4,874		5,522		14,473		18,323
Net Operating Income	12,770		20,318		39,447		52,852
Depreciation and Amortization	7,833		10,204		24,261		31,470
Interest Expense	1,697		2,170		5,120		6,543
Gain on Sale of Real Estate	(145)		0		2,894		0
Loss on Extinguishment of Debt					(73)		0
Net Income (Loss)	3,095		7,944		12,887		14,839
Company Share in Net Income	4,264		4,412		14,498		11,912
Adjustments for REIT basis	(26)		(21)		(79)		(83)
Income (Loss) from Equity Method Investments	4,238		4,391		14,419		11,829		$ 28,823
Duke Joint Venture
Schedule of Equity Method Investments [Line Items]
Total Revenue	12,016		14,331		35,806		43,684
Operating Expenses	3,106		3,980		9,653		13,302
Net Operating Income	8,910		10,351		26,153		30,382
Depreciation and Amortization	4,960		6,611		15,393		20,810
Interest Expense	751		1,031		2,300		3,106
Gain on Sale of Real Estate	(145)		0		2,894		0
Loss on Extinguishment of Debt					(73)		0
Net Income (Loss)	3,054		2,709		11,281		6,466
Company Share in Net Income	2,443		2,168		9,024		5,179
Adjustments for REIT basis	(26)		(21)		(79)		(83)
Income (Loss) from Equity Method Investments	2,417		2,147		8,945		5,096
European JV
Schedule of Equity Method Investments [Line Items]
Total Revenue	6,515		7,114		19,188		22,233
Operating Expenses	1,170		722		3,041		2,714
Net Operating Income	5,345		6,392		16,147		19,519
Depreciation and Amortization	2,383		3,061		7,416		9,077
Interest Expense	946		1,139		2,820		3,437
Gain on Sale of Real Estate	0				0		0
Loss on Extinguishment of Debt					0		0
Net Income (Loss)	2,016		2,192		5,911		7,005
Company Share in Net Income	1,613		1,754		4,729		5,604
Adjustments for REIT basis	0		0		0		0
Income (Loss) from Equity Method Investments	1,613		1,754		4,729		5,604
Other
Schedule of Equity Method Investments [Line Items]
Total Revenue	(887)	[1]	4,395	[2]	(1,074)	[1]	5,258	[2]
Operating Expenses	598	[1]	820	[2]	1,779	[1]	2,307	[2]
Net Operating Income	(1,485)	[1]	3,575	[2]	(2,853)	[1]	2,951	[2]
Depreciation and Amortization	490	[1]	532	[2]	1,452	[1]	1,583	[2]
Interest Expense	0	[1]	0	[2]	0	[1]	0	[2]
Gain on Sale of Real Estate	0	[1]	0	[2]	0	[1]	0	[2]
Loss on Extinguishment of Debt					0	[1]	0	[2]
Net Income (Loss)	(1,975)	[1]	3,043	[2]	(4,305)	[1]	1,368	[2]
Company Share in Net Income	208	[1]	490	[2]	745	[1]	1,129	[2]
Adjustments for REIT basis	0	[1]	0	[2]	0	[1]	0	[2]
Income (Loss) from Equity Method Investments	$ 208	[1]	$ 490	[2]	$ 745	[1]	$ 1,129	[2]
[1]	Includes UK JV and CBRE Strategic Partners Asia.
[2]	Includes UK JV, Afton Ridge, and CBRE Strategic Partners Asia.

Deferred Leasing Costs and In46

Deferred Leasing Costs and Intangible Assets and Liabilities - Summary of Deferred Leasing Costs and Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Intangible Assets, net:
Total Deferred Leasing Costs and Intangible Assets, Net	$ 194,109	$ 220,490
Intangible Liabilities, net:
Below Market Lease, Gross	46,766	51,653
Below Market Lease, Accumulated Amortization	(26,223)	(26,675)
Acquired Intangible Liabilities, Net	20,543	24,978
Above-Market Ground Lease Obligation	1,501	1,501
Above Market Ground Leases Obligation Accumulated Amortization	(285)	(231)
Above Market Ground Lease Obligation, Net	1,216	1,270
Intangible Liabilities, Net	21,759	26,248
Deferred Leasing Costs
Intangible Assets, net:
Deferred Leasing Costs and Intangible Assets, Gross	36,098	22,481
Accumulated Amortization	(6,687)	(4,218)
Total Deferred Leasing Costs and Intangible Assets, Net	29,411	18,263
Above-Market Leases
Intangible Assets, net:
Deferred Leasing Costs and Intangible Assets, Gross	63,566	63,566
Accumulated Amortization	(36,686)	(30,311)
Total Deferred Leasing Costs and Intangible Assets, Net	26,880	33,255
Acquired In-Place Leases
Intangible Assets, net:
Deferred Leasing Costs and Intangible Assets, Gross	290,758	300,124
Accumulated Amortization	(154,095)	(132,414)
Total Deferred Leasing Costs and Intangible Assets, Net	136,663	167,710
Other Intangible Assets
Intangible Assets, net:
Deferred Leasing Costs and Intangible Assets, Gross	1,425	1,425
Accumulated Amortization	(270)	(163)
Total Deferred Leasing Costs and Intangible Assets, Net	$ 1,155	$ 1,262

Deferred Leasing Costs and In47

Deferred Leasing Costs and Intangible Assets and Liabilities - Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Deferred Leasing Costs
Intangible Assets Goodwill And Other Assets [Line Items]
Amortization leases	[1]	$ 932	$ 423	$ 2,473	$ 1,141
Above-Market Leases
Intangible Assets Goodwill And Other Assets [Line Items]
Amortization leases	[2]	2,110	2,250	6,375	7,198
Acquired In-Place Leases
Intangible Assets Goodwill And Other Assets [Line Items]
Amortization leases	[1]	8,953	9,162	27,564	27,915
Other Intangible Assets
Intangible Assets Goodwill And Other Assets [Line Items]
Amortization leases	[1]	36	127	108	127
Below-Market Lease Value
Intangible Assets Goodwill And Other Assets [Line Items]
Amortization leases	[2]	(1,091)	(1,077)	(3,443)	(3,142)
Above-Market Ground Lease Obligations
Intangible Assets Goodwill And Other Assets [Line Items]
Amortization leases	[3]	$ (18)	$ (18)	$ (53)	$ (53)
[1]	The amortization of deferred leasing costs, in-place leases and other intangible assets are recorded to depreciation and amortization expense in the consolidated statements of operations for the periods presented.
[2]	The amortization of above-market leases and below-market leases are recorded as reductions and additions to rental income, respectively, in the consolidated statements of operations for the periods presented
[3]	The amortization of the above-market ground lease obligation is recorded as a decrease to property operating expense in the consolidated statements of operations for the periods presented.

Deferred Leasing Costs and In48

Deferred Leasing Costs and Intangible Assets and Liabilities - Schedule of Future Amortization of Acquisition Related Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Acquired Indefinite-lived Intangible Assets [Line Items]
Total Deferred Leasing Costs and Intangible Assets, Net	$ 194,109	$ 220,490
Deferred Leasing Costs
Acquired Indefinite-lived Intangible Assets [Line Items]
Remaining 2,015	671
2,016	2,630
2,017	2,476
2,018	2,376
2,019	2,173
Thereafter	19,085
Total Deferred Leasing Costs and Intangible Assets, Net	29,411	18,263
Acquired Above-Market Leases
Acquired Indefinite-lived Intangible Assets [Line Items]
Remaining 2,015	2,090
2,016	5,557
2,017	4,466
2,018	3,862
2,019	3,300
Thereafter	7,605
Total Deferred Leasing Costs and Intangible Assets, Net	26,880
Acquired In-Place Leases
Acquired Indefinite-lived Intangible Assets [Line Items]
Remaining 2,015	8,663
2,016	29,075
2,017	24,603
2,018	20,399
2,019	16,633
Thereafter	37,290
Total Deferred Leasing Costs and Intangible Assets, Net	136,663	167,710
Other Intangible Assets
Acquired Indefinite-lived Intangible Assets [Line Items]
Remaining 2,015	36
2,016	144
2,017	144
2,018	144
2,019	144
Thereafter	543
Total Deferred Leasing Costs and Intangible Assets, Net	1,155	$ 1,262
Acquired Below-Market Leases
Acquired Indefinite-lived Intangible Assets [Line Items]
Remaining 2,015	993
2,016	3,404
2,017	2,912
2,018	2,639
2,019	2,418
Thereafter	8,177
Total Deferred Leasing Costs and Intangible Assets, Net	20,543
Above-Market Ground Lease Obligations
Acquired Indefinite-lived Intangible Assets [Line Items]
Remaining 2,015	18
2,016	71
2,017	71
2,018	71
2,019	71
Thereafter	914
Total Deferred Leasing Costs and Intangible Assets, Net	$ 1,216

Debt - Notes Payable Secured by

Debt - Notes Payable Secured by Real Property (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Outstanding Balance		$ 478,739	$ 610,608
Total Secured Notes Payable		467,879	596,008
Plus Premium		11,587	15,494
Less Discount		(727)	(894)
Total Secured Notes Payable, Net		$ 478,739	610,608
70 Hudson Street
Debt Instrument [Line Items]
Stated Interest Rate	[1]	5.65%
Effective Interest Rate	[1],[2]	5.15%
Maturity Date	[1]	Apr. 11, 2016
Outstanding Balance	[1]	$ 112,543	114,108
Point West I
Debt Instrument [Line Items]
Stated Interest Rate		3.41%
Effective Interest Rate	[2]	3.41%
Maturity Date		Dec. 6, 2016
Outstanding Balance		$ 10,472	10,716
100 Tice Blvd 1
Debt Instrument [Line Items]
Stated Interest Rate		5.97%
Effective Interest Rate	[2]	4.38%
Maturity Date		Sep. 15, 2017
Outstanding Balance		$ 18,499	18,960
100 Tice Blvd 2
Debt Instrument [Line Items]
Stated Interest Rate		5.97%
Effective Interest Rate	[2]	4.38%
Maturity Date		Sep. 15, 2017
Outstanding Balance		$ 18,499	18,960
4701 Gold Spike Drive
Debt Instrument [Line Items]
Stated Interest Rate	[3]	4.45%
Effective Interest Rate	[2],[3]	4.45%
Maturity Date	[3]	Mar. 1, 2018
Outstanding Balance	[3]	$ 9,806	9,958
1985 International Way
Debt Instrument [Line Items]
Stated Interest Rate	[3]	4.45%
Effective Interest Rate	[2],[3]	4.45%
Maturity Date	[3]	Mar. 1, 2018
Outstanding Balance	[3]	$ 6,813	6,920
3660 Deerpark Blvd
Debt Instrument [Line Items]
Stated Interest Rate	[3]	4.45%
Effective Interest Rate	[2],[3]	4.45%
Maturity Date	[3]	Mar. 1, 2018
Outstanding Balance	[3]	$ 7,043	7,153
Tolleson Commerce Park II
Debt Instrument [Line Items]
Stated Interest Rate	[3]	4.45%
Effective Interest Rate	[2],[3]	4.45%
Maturity Date	[3]	Mar. 1, 2018
Outstanding Balance	[3]	$ 4,235	4,301
20000 S Diamond Lake Road
Debt Instrument [Line Items]
Stated Interest Rate	[3]	4.45%
Effective Interest Rate	[2],[3]	4.45%
Maturity Date	[3]	Mar. 1, 2018
Outstanding Balance	[3]	$ 6,169	6,265
Atrium I
Debt Instrument [Line Items]
Stated Interest Rate		3.78%
Effective Interest Rate	[2]	3.78%
Maturity Date		May 31, 2018
Outstanding Balance		$ 20,878	21,580
McAuley Place
Debt Instrument [Line Items]
Stated Interest Rate		3.98%
Effective Interest Rate	[2]	3.50%
Maturity Date		Sep. 1, 2018
Outstanding Balance		$ 12,582	12,865
Easton III
Debt Instrument [Line Items]
Stated Interest Rate		3.95%
Effective Interest Rate	[2]	3.95%
Maturity Date		Jan. 31, 2019
Outstanding Balance		$ 6,141	6,280
90 Hudson Street
Debt Instrument [Line Items]
Stated Interest Rate		5.66%
Effective Interest Rate	[2]	5.26%
Maturity Date		May 1, 2019
Outstanding Balance		$ 102,165	103,301
Fairforest Bldg. 6
Debt Instrument [Line Items]
Stated Interest Rate		5.42%
Effective Interest Rate	[2]	6.50%
Maturity Date		Jun. 1, 2019
Outstanding Balance		$ 1,488	1,751
North Rhett I
Debt Instrument [Line Items]
Stated Interest Rate		5.65%
Effective Interest Rate	[2]	6.50%
Maturity Date		Aug. 1, 2019
Outstanding Balance		$ 1,606	1,958
Kings Mountain II
Debt Instrument [Line Items]
Stated Interest Rate		5.47%
Effective Interest Rate	[2]	6.50%
Maturity Date		Jan. 1, 2020
Outstanding Balance		$ 3,014	3,467
One Rocket Road
Debt Instrument [Line Items]
Stated Interest Rate		6.60%
Effective Interest Rate	[2]	4.00%
Maturity Date		Aug. 1, 2020
Outstanding Balance		$ 18,213	18,516
North Rhett II
Debt Instrument [Line Items]
Stated Interest Rate		5.20%
Effective Interest Rate	[2]	6.50%
Maturity Date		Oct. 1, 2020
Outstanding Balance		$ 1,265	1,425
Mt Holly Bldg.
Debt Instrument [Line Items]
Stated Interest Rate		5.20%
Effective Interest Rate	[2]	6.50%
Maturity Date		Oct. 1, 2020
Outstanding Balance		$ 1,265	1,425
Orangeburg Park Bldg.
Debt Instrument [Line Items]
Stated Interest Rate		5.20%
Effective Interest Rate	[2]	6.50%
Maturity Date		Oct. 1, 2020
Outstanding Balance		$ 1,286	1,449
Kings Mountain I
Debt Instrument [Line Items]
Stated Interest Rate		5.27%
Effective Interest Rate	[2]	6.50%
Maturity Date		Oct. 1, 2020
Outstanding Balance		$ 1,096	1,235
Ten Parkway North
Debt Instrument [Line Items]
Stated Interest Rate		4.75%
Effective Interest Rate	[2]	4.75%
Maturity Date		Jan. 1, 2021
Outstanding Balance		$ 11,226	11,469
Union Cross Bldg. II
Debt Instrument [Line Items]
Stated Interest Rate		5.53%
Effective Interest Rate	[2]	6.50%
Maturity Date		Jun. 1, 2021
Outstanding Balance		$ 5,192	5,755
Union Cross Bldg. I
Debt Instrument [Line Items]
Stated Interest Rate		5.50%
Effective Interest Rate	[2]	6.50%
Maturity Date		Jul. 1, 2021
Outstanding Balance		$ 1,709	1,892
Norman Pointe I
Debt Instrument [Line Items]
Stated Interest Rate		5.24%
Effective Interest Rate	[2]	3.50%
Maturity Date		Oct. 1, 2021
Outstanding Balance		$ 19,914	20,177
Norman Pointe II
Debt Instrument [Line Items]
Stated Interest Rate		5.24%
Effective Interest Rate	[2]	3.50%
Maturity Date		Oct. 1, 2021
Outstanding Balance		$ 21,924	22,214
The Landings I
Debt Instrument [Line Items]
Stated Interest Rate		5.24%
Effective Interest Rate	[2]	3.50%
Maturity Date		Oct. 1, 2021
Outstanding Balance		$ 14,987	15,185
The Landings II
Debt Instrument [Line Items]
Stated Interest Rate		5.24%
Effective Interest Rate	[2]	3.50%
Maturity Date		Oct. 1, 2021
Outstanding Balance		$ 13,219	13,393
Fairforest Bldg. 5
Debt Instrument [Line Items]
Stated Interest Rate		6.33%
Effective Interest Rate	[2]	6.50%
Maturity Date		Feb. 1, 2024
Outstanding Balance		$ 7,203	7,678
North Rhett IV
Debt Instrument [Line Items]
Stated Interest Rate		5.80%
Effective Interest Rate	[2]	6.50%
Maturity Date		Feb. 1, 2025
Outstanding Balance		$ 7,427	7,862
One Wayside Road 1
Debt Instrument [Line Items]
Stated Interest Rate	[4]	5.66%
Effective Interest Rate	[2],[4]	5.25%
Maturity Date	[4]	Aug. 1, 2015
Outstanding Balance	[4]	$ 0	12,938
One Wayside Road 2
Debt Instrument [Line Items]
Stated Interest Rate	[4]	5.92%
Effective Interest Rate	[2],[4]	5.25%
Maturity Date	[4]	Aug. 1, 2015
Outstanding Balance	[4]	$ 0	10,854
Lakeside Office Center
Debt Instrument [Line Items]
Stated Interest Rate	[5]	6.03%
Effective Interest Rate	[2],[5]	6.03%
Maturity Date	[5]	Sep. 1, 2015
Outstanding Balance	[5]	$ 0	8,617
Celebration Office Center
Debt Instrument [Line Items]
Stated Interest Rate	[6]	4.25%
Effective Interest Rate	[2],[6]	2.50%
Maturity Date	[6]	Dec. 1, 2015
Outstanding Balance	[6]	$ 0	8,817
22535 Colonial Pkwy
Debt Instrument [Line Items]
Stated Interest Rate	[6]	4.25%
Effective Interest Rate	[2],[6]	2.50%
Maturity Date	[6]	Dec. 1, 2015
Outstanding Balance	[6]	$ 0	7,889
Northpoint III
Debt Instrument [Line Items]
Stated Interest Rate	[6]	4.25%
Effective Interest Rate	[2],[6]	2.50%
Maturity Date	[6]	Dec. 1, 2015
Outstanding Balance	[6]	$ 0	10,209
Goodyear Crossing Ind. Park II
Debt Instrument [Line Items]
Stated Interest Rate	[6]	4.25%
Effective Interest Rate	[2],[6]	2.50%
Maturity Date	[6]	Dec. 1, 2015
Outstanding Balance	[6]	$ 0	19,489
3900 North Paramount Parkway
Debt Instrument [Line Items]
Stated Interest Rate	[6]	4.25%
Effective Interest Rate	[2],[6]	2.50%
Maturity Date	[6]	Dec. 1, 2015
Outstanding Balance	[6]	$ 0	7,656
3900 South Paramount Parkway
Debt Instrument [Line Items]
Stated Interest Rate	[6]	4.25%
Effective Interest Rate	[2],[6]	2.50%
Maturity Date	[6]	Dec. 1, 2015
Outstanding Balance	[6]	$ 0	7,656
1400 Perimeter Park Drive
Debt Instrument [Line Items]
Stated Interest Rate	[6]	4.25%
Effective Interest Rate	[2],[6]	2.50%
Maturity Date	[6]	Dec. 1, 2015
Outstanding Balance	[6]	$ 0	2,320
Miramar I
Debt Instrument [Line Items]
Stated Interest Rate	[6]	4.25%
Effective Interest Rate	[2],[6]	2.50%
Maturity Date	[6]	Dec. 1, 2015
Outstanding Balance	[6]	$ 0	9,095
Miramar II
Debt Instrument [Line Items]
Stated Interest Rate	[6]	4.25%
Effective Interest Rate	[2],[6]	2.50%
Maturity Date	[6]	Dec. 1, 2015
Outstanding Balance	[6]	$ 0	$ 12,250
[1]	In accordance with the provisions of this loan, beginning in February 2015, the property's excess cash proceeds after the payment of debt service, impounds and budgeted operating expenses are being held by the lender until the loan is repaid or the property is re-leased to the existing tenant under terms described in the loan agreement.
[2]	Represents the rate at which interest expense is recorded for financial reporting purposes, which reflects the amortization of any discounts/premiums, excluding debt issuance costs.
[3]	These five loans are cross-collaterialized.
[4]	This loan was paid off in full on February 2, 2015 prior to the maturity date.
[5]	This loan was paid off in full on June 3, 2015 prior to the maturity date.
[6]	These loans were paid off in full on September 2, 2015, prior to their maturity date

Debt - Notes Payable Secured 50

Debt - Notes Payable Secured by Real Property (Footnotes) (Details)	Sep. 30, 2015SecurityLoan
Loan Group Maturity Date March 1, 2018
Debt Instrument [Line Items]
Number of loan cross-collateralized by properties	5

Debt - Notes Payable - Unsecure

Debt - Notes Payable - Unsecured Term Loan Facilities (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Outstanding borrowings		$ 570,000	$ 570,000
WF Term Loans
Debt Instrument [Line Items]
LIBOR rate		0.197%	0.156%
WF Term Loan 2
Debt Instrument [Line Items]
Commitment fee percentage		1.50%
Interest rate	[1],[2]	2.49%
Outstanding borrowings	[1]	$ 200,000	$ 200,000
WF Term Loan 3
Debt Instrument [Line Items]
Commitment fee percentage		1.50%
Interest rate	[1],[2]	3.12%
Outstanding borrowings	[1]	$ 200,000	200,000
TD Term Loan
Debt Instrument [Line Items]
Commitment fee percentage		1.75%
Interest rate	[2],[3]	3.28%
Outstanding borrowings	[3]	$ 50,000	$ 50,000
LIBOR rate		0.197%	0.155%
Capital One Term Loan
Debt Instrument [Line Items]
Commitment fee percentage		1.75%
Interest rate	[1],[2]	4.32%
Outstanding borrowings	[1]	$ 120,000	$ 120,000
[1]	As of September 30, 2015 and December 31, 2014, the applicable LIBOR rate was 0.197% and 0.156%, respectively, for these loans.
[2]	Represents the rate at which interest expense is recorded for financial reporting purposes, which reflects the effect of the interest rate swaps, excluding debt issuance costs.
[3]	As of September 30, 2015 and December 31, 2014, the applicable LIBOR rate was 0.197% and 0.155%, respectively, for this loan.

Debt - Notes Payable - Unsecu52

Debt - Notes Payable - Unsecured Credit Facility (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Line of Credit Facility [Line Items]
Outstanding borrowings		$ 570,000		$ 570,000
Revolving credit facility
Line of Credit Facility [Line Items]
Outstanding borrowings		290,044		200,044
Remaining borrowing capacity		559,956		649,956
Total borrowing capacity		$ 850,000		$ 850,000
Interest rate	[1]	1.50%		1.46%
Facility Fee	[2]	0.30%	0.30%
Basis spread on variable rate		1.30%	1.30%
[1]	Calculated based on one-month LIBOR plus 1.30% as of September 30, 2015 and December 31, 2014.
[2]	The facility fee is based on the unsecured revolving credit facility's total borrowing capacity.

Debt - Notes Payable - Debt Cov

Debt - Notes Payable - Debt Covenants and Restrictions (Details)	9 Months Ended
	Sep. 30, 2015USD ($)eligible_property
Debt Instrument [Line Items]
Leverage ratio on credit facility	0.60
Fixed charge coverage ratio	1.50
Unencumbered leverage ratio	0.60
Minimum tangible net worth value	$ 1,500,000,000
Percentage of net proceeds from future equity issuances	85.00%
Unencumbered asset value	$ 400,000,000
Minimum number of eligible properties | eligible_property	10
Revolving credit facility
Debt Instrument [Line Items]
Secured leverage ratio	0.40

Debt - Minimum Principal Paymen

Debt - Minimum Principal Payments Due for Notes Payable (Details) $ in Thousands	Sep. 30, 2015USD ($)
Debt Disclosure [Abstract]
Remaining 2,015	$ 3,588
2,016	134,612
2,017	46,822
2,018	562,612
2,019	308,768
Thereafter	271,521
Total	$ 1,327,923

Risk Management and Use of Fi55

Risk Management and Use of Financial Instruments - Schedule of Interest Rate Swap Derivative Instruments (Details) - LIBOR - Interest Rate Swap - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Qualifying Interest Rate Swap on Point West I Debt
Derivative [Line Items]
Notional Amount	[1]	$ 10,472	$ 10,716
Fair Value	[1]	$ (118)	$ (135)
Rate	[1]	1.20%	1.30%
Index	[1]	LIBOR
Maturity Date	[1]	Dec. 6, 2016
Qualifying Interest Rate Swap on Wells Fargo Term Loan - Two
Derivative [Line Items]
Notional Amount	[2]	$ 200,000	$ 200,000
Fair Value	[2]	$ (1,143)	$ 1,467
Rate	[2]	0.80%	0.80%
Index	[2]	LIBOR
Maturity Date	[2]	Mar. 7, 2018
Qualifying Interest Rate Swap on Atrium I Debt
Derivative [Line Items]
Notional Amount	[1]	$ 20,878	$ 21,580
Fair Value	[1]	$ (508)	$ (354)
Rate	[1]	1.60%	1.60%
Index	[1]	LIBOR
Maturity Date	[1]	May 31, 2018
Qualifying Interest Rate Swap on Wells Fargo Term Loan - Three
Derivative [Line Items]
Notional Amount		$ 200,000	$ 200,000
Fair Value		$ (4,467)	$ (1,540)
Rate		1.40%	1.50%
Index		LIBOR
Maturity Date		Jan. 15, 2019
Qualifying Interest Rate Swap on Easton III Debt
Derivative [Line Items]
Notional Amount	[1]	$ 6,141	$ 6,280
Fair Value	[1]	$ (194)	$ (127)
Rate	[1]	1.70%	1.80%
Index	[1]	LIBOR
Maturity Date	[1]	Jan. 31, 2019
Qualifying Interest Rate Swap on TD Term Loan
Derivative [Line Items]
Notional Amount	[2]	$ 50,000	$ 50,000
Fair Value	[2]	$ (866)	$ 266
Rate	[2]	1.30%	1.40%
Index	[2]	LIBOR
Maturity Date	[2]	Mar. 6, 2020
Qualifying Interest Rate Swap on Capital I Debt
Derivative [Line Items]
Notional Amount		$ 120,000	$ 120,000
Fair Value		$ (7,819)	$ (5,543)
Rate		2.40%	2.40%
Index		LIBOR
Maturity Date		Jan. 31, 2021
[1]	We assumed this swap in connection with the purchase of the Duke Portfolio on March 1, 2013. This swap is considered a hedging instrument under ASC 815-20 as of September 30, 2015. The swap was not considered a hedging instrument under ASC 815-20 during the period from March 1, 2013 to March 31, 2013.
[2]	We entered into these swaps in connection with the origination of the TD Term Loan and WF Term Loan #1 in March 2013. These swaps are considered hedging instruments under ASC 815-20 as of September 30, 2015. These swaps were not considered hedging instruments under ASC 815-20 during the period from March 11, 2013 and March 12, 2013, respectively, to May 29, 2013.

Risk Management and Use of Fi56

Risk Management and Use of Financial Instruments - Balance Sheet Location (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 0	$ 1,733
Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 15,115	$ 7,699

Risk Management and Use of Fi57

Risk Management and Use of Financial Instruments - Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			$ 7,200
Cash Flow Hedging | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
(Loss) Gain Recognized in Other Comprehensive Income (OCI) (Effective Portion)	$ (8,708)	$ 1,545	(15,671)	$ (11,041)
Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2,159)	(2,260)	(6,456)	(6,955)
Gain (Loss) on Components Excluded from Assessment of Interest Rate Fair Value Hedge Effectiveness	$ 23	$ 68	$ 66	$ 80

Future Minimum Rents - Schedule

Future Minimum Rents - Schedule of Minimum Future Rents to be Received on Non-cancelable Operating Leases (Details) $ in Thousands	Sep. 30, 2015USD ($)
Leases [Abstract]
Remaining 2,015	$ 53,053
2,016	196,630
2,017	188,190
2,018	174,713
2,019	159,801
Thereafter	663,682
Total	$ 1,436,069

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2015
Related Party Transactions [Abstract]
Acquisition consulting fee percentage		0.75%
Sub advisory fees paid by former investment advisor	$ 0.2
Percentage of business, assets or voting securities to trigger agreement		10.00%
Transaction financial advisory fee due as percent of consideration in transaction		0.25%

Equity Incentive Plan and Per60

Equity Incentive Plan and Performance Bonus Plan - Narrative (Details) $ / shares in Units, $ in Thousands	Sep. 04, 2015$ / sharesshares	Mar. 05, 2015USD ($)shares	Jan. 09, 2015$ / sharesshares	Mar. 15, 2014employee$ / sharesshares	Feb. 26, 2014shares	Jan. 29, 2014$ / sharesshares	Mar. 15, 2013	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service vesting period							3 years
Number of employees granted restricted common shares | employee				25
Vesting description				One-third of the restricted shares granted to our named executive officers and employees will vest on each of the first three anniversaries of grant if the grantee is employed by the Company on such anniversary
Percentage of restricted shares to vest on each anniversary of grant date				33.33%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discounted grant date fair value | $ / shares			$ 7.13
Remaining term			2 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)										237,440
Grant date fair value (in usd per share) | $ / shares										$ 6.56
Time-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)										237,422
Grant date fair value (in usd per share) | $ / shares										$ 7.78
Martin Reid
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common shares (in shares)					90,000
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash compensation | $		$ 187
Non-cash compensation | $		$ 3,300
Chief Executive Officer | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)		75,000
Chief Executive Officer | Time-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)		75,000
Executive Officers and Other Senior Management | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of restricted common shares granted to employees (in shares)				401,875
Grant date fair value, per share | $ / shares				$ 7.74
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of restricted common shares granted to employees (in shares)				143,450
Named Executive Officers and Our Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense | $								$ 170	$ 563	$ 510	$ 968
2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares available for grant (in shares)								3,323,441		3,323,441
Common shares granted (in shares)						33,100
Grant date fair value, per share | $ / shares						$ 7.87
2013 Equity Incentive Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount percent			12.50%
Grant date fair value (in usd per share) | $ / shares			$ 8.15
Aggregate number of restricted common shares granted to employees (in shares)				474,862
2013 Equity Incentive Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of restricted common shares granted to employees (in shares)				237,440
Service vesting period				3 years
Maximum number of shares of common stock issued to an employee, percent				150.00%
2013 Equity Incentive Plan | Time-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of restricted common shares granted to employees (in shares)				237,422
2013 Equity Incentive Plan | Charles Black
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)						20,000
2013 Equity Incentive Plan | Charles Black | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)			20,000
2013 Equity Incentive Plan | Louis Salvatore
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)						5,000
2013 Equity Incentive Plan | Louis Salvatore | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)			5,000
2013 Equity Incentive Plan | James Orphanides
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)						5,000
2013 Equity Incentive Plan | James Orphanides | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)			5,000
2013 Equity Incentive Plan | James Francis
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)						1,550
2013 Equity Incentive Plan | James Francis | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)			5,000
2013 Equity Incentive Plan | Mark Brugger
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)						1,550
2013 Equity Incentive Plan | Mark Brugger | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)	9,186
Discounted grant date fair value | $ / shares	$ 6.13
Discount percent	7.50%
Grant date fair value (in usd per share) | $ / shares	$ 6.63

Equity Incentive Plan and Per61

Equity Incentive Plan and Performance Bonus Plan - Fair Value Assumptions (Details) - Performance Shares - $ / shares	9 Months Ended
	Sep. 30, 2015	Mar. 13, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value per unit at March 13, 2015		$ 6
Expected share price volatility	22.00%
Dividend yield	6.00%
Risk-free interest rate	0.99%
Remaining expected life	2 years 9 months 18 days

Equity Incentive Plan and Per62

Equity Incentive Plan and Performance Bonus Plan - Summary of Time-Based Restricted Common Shares (Details) - $ / shares		Jan. 29, 2014	Sep. 30, 2015
2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Granted Shares		33,100
Time-Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Beginning Balance Shares			800,699
Nonvested, Granted Shares	[1]		200,000
Nonvested, Vested Shares	[1],[2]		(766,463)
Nonvested, Forfeited Shares			(1,202)
Nonvested, Ending Balance Shares			233,034
Weighted Average Grant Date Fair Value [Abstract]
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Beginning Balance			$ 8.68
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Granted	[1]		8.10
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Vested	[1],[2]		8.58
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Forfeited			8.37
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Ending Balance			$ 8.30
Time-Based Restricted Stock | 2013 Equity Incentive Plan
Weighted Average Grant Date Fair Value [Abstract]
Shares tendered to satisfy tax withholding requirements			336,041
[1]	Shares granted to Mr. Cuneo were fully vested upon his retirement.
[2]	Total shares vested include 336,041 common shares that were tendered in accordance with the terms of our 2013 Equity Incentive Plan to satisfy minimum state tax withholding requirements related to the restricted common shares that have vested. We accept the return of shares at the current quoted closing share price of the Company's common shares on the NYSE to satisfy tax obligations.

Equity Incentive Plan and Per63

Equity Incentive Plan and Performance Bonus Plan - Summary of Time-Based Restricted Share Units (Details) - Time-Based Restricted Share Units	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Beginning Balance Shares	0
Nonvested, Granted Shares	237,422
Nonvested, Vested Shares	(75,000)
Nonvested, Forfeited Shares	(397)
Nonvested, Settled Shares	0	[1]
Nonvested, Ending Balance Shares	162,025
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Beginning Balance | $ / shares	$ 0
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares	7.78
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Vested | $ / shares	7.78
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Forfeited | $ / shares	7.78
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Settled | $ / shares	0	[1]
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Ending Balance | $ / shares	$ 7.78
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Vested, Outstanding [Roll Forward]
Beginning Balance	0
Granted	0
Vested	75,000
Forfeited	0
Settled	(75,000)	[1]
Ending Balance	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning Balance	0
Granted	237,422
Vested	0
Forfeited	(397)
Settled	(75,000)	[1]
Ending Balance	162,025
2015 Equity Incentive Award
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Shares tendered to satisfy tax withholding requirements	38,806
[1]	Represents vested RSUs that were settled in shares of the Company's common shares. Total shares settled include 38,806 shares that were tendered in accordance with the terms of our 2013 Equity Incentive Plan to satisfy minimum state tax withholding requirements related to the RSU settled. We accept the return of shares at the current quoted closing share price of the Company's common shares on the NYSE to satisfy tax obligations.

Equity Incentive Plan and Per64

Equity Incentive Plan and Performance Bonus Plan - Summary of Performance Share Units (Details) - Performance Shares	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Beginning Balance Shares	0
Nonvested, Granted Shares	237,440
Nonvested, Vested Shares	(75,000)
Nonvested, Forfeited Shares	(397)
Nonvested, Settled Shares	0	[1]
Nonvested, Ending Balance Shares	162,043
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Beginning Balance | $ / shares	$ 0
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares	6.56
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Vested | $ / shares	7.78
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Forfeited | $ / shares	6
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Settled | $ / shares	0	[1]
Nonvested, Weighted-Average Grant Date Fair Value Per Share, Ending Balance | $ / shares	$ 6
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Vested, Outstanding [Roll Forward]
Beginning Balance	0
Granted	0
Vested	75,000
Forfeited	0
Settled	(75,000)	[1]
Ending Balance	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning Balance	0
Granted	237,440
Vested	0
Forfeited	(397)
Settled	(75,000)	[1]
Ending Balance	162,043
2015 Equity Incentive Award
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Shares tendered to satisfy tax withholding requirements	38,888
[1]	Represents vested PSUs that were settled in shares of the Company's common shares. Total shares settled include 38,888 shares that were tendered in accordance with the terms of our 2013 Equity Incentive Plan to satisfy minimum state tax withholding requirements related to the PSU settled. We accept the return of shares at the current quoted closing share price of the Company's common shares on the NYSE to satisfy tax obligations.

Equity Incentive Plan and Per65

Equity Incentive Plan and Performance Bonus Plan - Summary of Compensation Expense and Details (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense Recorded During the Three Months Ended March 31	[1]	$ 5,285	$ 1,924
Unamortized Compensation Costs		$ 3,058	$ 7,351
Units available for the future awards	[2]	3,323,441	4,041,992
Severance Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Expense Recorded During the Three Months Ended March 31		$ 3,300
[1]	2015 compensation expense includes severance expense totaling $3.3 million.
[2]	Shares available for the future awards includes units under our 2013 Equity Incentive Plan.

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Nov. 06, 2013
Equity [Abstract]
Authorized aggregate number of shares	1,000,000,000
Common shares of beneficial interest, shares authorized	990,000,000	990,000,000
Common shares, par value (in usd per share)	$ 0.01	$ 0.01
Preferred shares under beneficial interest	10,000,000
Par value of preferred stock	$ 0.01
Preferred stock issued	0	0
Preferred stock outstanding	0	0
Common stock, at the market offering, offering price			$ 250,000,000

Shareholders' Equity - Componen

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ (23,269)	$ 4,596
Other Comprehensive Income (Loss) Before Reclassifications	(28,244)	(24,834)
Ending balance	(45,057)	(13,283)
Reclassified From Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Amounts Reclassified from Accumulated Other Comprehensive Income to Interest Expense	6,456	6,955
Foreign Currency Translation Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(17,513)	1,670
Other Comprehensive Income (Loss) Before Reclassifications	(12,573)	(13,793)
Ending balance	(30,086)	(12,123)
Foreign Currency Translation Loss | Reclassified From Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Amounts Reclassified from Accumulated Other Comprehensive Income to Interest Expense	0	0
Swap Fair Value Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(5,756)	2,926
Other Comprehensive Income (Loss) Before Reclassifications	(15,671)	(11,041)
Ending balance	(14,971)	(1,160)
Swap Fair Value Adjustment | Reclassified From Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Amounts Reclassified from Accumulated Other Comprehensive Income to Interest Expense	$ 6,456	$ 6,955

Fair Value of Financial Instr68

Fair Value of Financial Instruments and Investments - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Period to reset variable rate on derivative	90 days
Impairment of real estate		$ 27,600
Fair value of real estate at impairment	$ 2,010,272	$ 2,089,190
Discount rate		12.00%
Terminal cap rate		6.50%
Expense growth rate		3.00%
70 Hudson Street
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of real estate at impairment		$ 94,000
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term revenue growth rate		3.00%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term revenue growth rate		3.40%

Fair Value of Financial Instr69

Fair Value of Financial Instruments and Investments - Schedule of Fair Value of Assets and Liabilities Measured On Recurring Basis (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Quoted Markets Prices (Level 1) | Fair Value, Measurements, Recurring
Financial Assets (Liabilities)
Cash and Cash Equivalents		$ 6,583	$ 1,573
Interest Rate Swaps Designated as Cash Flow Hedges - Assets		0	0
Interest Rate Swaps Designated as Cash Flow Hedges - Liabilities		0	0
Investment in CBRE Strategic Partners Asia		0	0
Significant Observable Inputs (Level 2) | Fair Value, Measurements, Recurring
Financial Assets (Liabilities)
Cash and Cash Equivalents		0	0
Interest Rate Swaps Designated as Cash Flow Hedges - Assets		0	1,733
Interest Rate Swaps Designated as Cash Flow Hedges - Liabilities		(15,115)	(7,699)
Investment in CBRE Strategic Partners Asia		0	0
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring
Financial Assets (Liabilities)
Cash and Cash Equivalents		0	0
Interest Rate Swaps Designated as Cash Flow Hedges - Assets		0	0
Interest Rate Swaps Designated as Cash Flow Hedges - Liabilities		0	0
Investment in CBRE Strategic Partners Asia		5,194	6,870
Fair Value | Fair Value, Measurements, Recurring
Financial Assets (Liabilities)
Cash and Cash Equivalents		6,583	1,573
Interest Rate Swaps Designated as Cash Flow Hedges - Assets		0	1,733
Interest Rate Swaps Designated as Cash Flow Hedges - Liabilities		(15,115)	(7,699)
Investment in CBRE Strategic Partners Asia		$ 5,194	6,870
Real Estate Investment | Quoted Markets Prices (Level 1) | Fair Value, Measurements, Nonrecurring
Financial Assets (Liabilities)
Fair value of real estate at impairment	[1]		0
Real Estate Investment | Significant Observable Inputs (Level 2) | Fair Value, Measurements, Nonrecurring
Financial Assets (Liabilities)
Fair value of real estate at impairment	[1]		0
Real Estate Investment | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Nonrecurring
Financial Assets (Liabilities)
Fair value of real estate at impairment	[1]		94,000
Real Estate Investment | Fair Value | Fair Value, Measurements, Nonrecurring
Financial Assets (Liabilities)
Fair value of real estate at impairment	[1]		$ 94,000
[1]	Represents a non-recurring fair value measurement.

Fair Value of Financial Instr70

Fair Value of Financial Instruments and Investments - Investment in CBRE Strategic Partners Asia Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Investment in CBRE Strategic Partners Asia
Beginning Balance, Investment in CBRE Strategic Partners Asia	$ 6,870	$ 9,676
Unrealized Loss in Fair Value Adjustment	(1,053)
Distributions	(1,385)	(2,724)
Total Income (Loss) on Fair Value Adjustment, Investment in CBRE Strategic Partners Asia	762	(13)
Ending Balance, Investment in CBRE Strategic Partners Asia	$ 5,194	$ 6,939

Fair Value of Financial Instr71

Fair Value of Financial Instruments and Investments - Summary of Notes Payable and Estimated Fair Value (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Notes Payable, Net		$ 478,739	$ 610,608
Unsecured Term Loan Facilities		570,000	570,000
Unsecured Revolving Credit Facility		570,000	570,000
Book Value | Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Notes Payable, Net	[1]	478,739	610,608
Book Value | Unsecured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured Term Loan Facilities	[1]	570,000	570,000
Unsecured Revolving Credit Facility	[1]	290,044	200,044
Fair Value | Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Notes Payable, Net	[1]	495,673	628,194
Fair Value | Unsecured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured Term Loan Facilities	[1]	589,771	577,196
Unsecured Revolving Credit Facility	[1]	$ 290,044	$ 200,044
[1]	Items are measured using Level 2 inputs.

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	Jul. 01, 2015USD ($)$ / shares	Sep. 30, 2015claimrenewal_option$ / shares	Dec. 31, 2014$ / shares
Loss Contingencies [Line Items]
Number of lease renewal options | renewal_option		3
Lease agreement period		10 years
Common shares, par value (in usd per share) | $ / shares		$ 0.01	$ 0.01
Gramercy Merger | Pending Litigation
Loss Contingencies [Line Items]
Number of class action lawsuits | claim		2
Gramercy Property Trust Inc
Loss Contingencies [Line Items]
Common shares, par value (in usd per share) | $ / shares	$ 0.01
Termination fee, due to Gramercy Trust Inc.	$ 61,198,934
Termination fee, due to Company	43,505,889
Additional reimbursement due in event of termination	$ 20,000,000
Gramercy Merger Agreement | Gramercy Property Trust Inc
Loss Contingencies [Line Items]
Exchange ratio	3.1898
Series B Cumulative Redeemable Preferred Stock | Gramercy Property Trust Inc
Loss Contingencies [Line Items]
Dividend rate on preferred stock	7.125%
Series A Cumulative Redeemable Preferred Stock | Gramercy Property Trust Inc
Loss Contingencies [Line Items]
Dividend rate on preferred stock	7.125%
Exchangeable Senior Notes | Gramercy Property Trust Inc
Loss Contingencies [Line Items]
Stated Interest Rate	3.75%

Commitments and Contingencies73

Commitments and Contingencies - Maturity of Ground Lease (Details) $ in Thousands	Sep. 30, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining 2,015	$ 68
2,016	273
2,017	273
2,018	276
2,019	308
Thereafter	4,474
Total	$ 5,672

Segment Disclosure - Narrative

Segment Disclosure - Narrative (Details)	9 Months Ended
	Sep. 30, 2015segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of nonreportable segments	1

Segment Disclosure - Comparison

Segment Disclosure - Comparison of Net Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Rental	$ 54,915	$ 52,391	$ 166,020	$ 156,300
Tenant Reimbursements	15,646	15,219	46,917	45,034
Other Property Income	1,072	537	1,520	1,606
Total Revenues	71,633	68,147	214,457	202,940
Property and Related Expenses:
Real Estate Taxes	10,694	9,927	32,050	30,193
Total Expenses	57,606	53,743	174,301	159,425
Income Before Other (Expenses) Income	14,027	14,404	40,156	43,515
Operating Segments
Property and Related Expenses:
Income Before Other (Expenses) Income	52,451	49,107	156,003	145,689
Operating Segments | Domestic Industrial Properties
Segment Reporting, Asset Reconciling Item [Line Items]
Rental	18,493	15,116	55,448	43,241
Tenant Reimbursements	4,787	3,997	14,667	11,967
Other Property Income	1,072	537	1,520	537
Total Revenues	24,352	19,650	71,635	55,745
Property and Related Expenses:
Operating and Maintenance	1,345	1,355	4,576	4,061
Real Estate Taxes	3,758	3,370	11,474	10,100
Total Expenses	5,103	4,725	16,050	14,161
Income Before Other (Expenses) Income	19,249	14,925	55,585	41,584
Operating Segments | Domestic Office Properties
Segment Reporting, Asset Reconciling Item [Line Items]
Rental	36,422	37,022	110,572	110,737
Tenant Reimbursements	10,859	11,243	32,250	33,019
Other Property Income	0	0	0	1,069
Total Revenues	47,281	48,265	142,822	144,825
Property and Related Expenses:
Operating and Maintenance	7,143	7,615	21,828	22,714
Real Estate Taxes	6,936	6,692	20,576	20,228
Total Expenses	14,079	14,307	42,404	42,942
Income Before Other (Expenses) Income	33,202	33,958	100,418	101,883
Operating Segments | Non-Reportable Properties
Segment Reporting, Asset Reconciling Item [Line Items]
Rental	0	253	0	2,322
Tenant Reimbursements	0	(21)	0	48
Total Revenues	0	232	0	2,370
Property and Related Expenses:
Operating and Maintenance	0	8	0	148
Real Estate Taxes	0	0	0	0
Total Expenses	0	8	0	148
Income Before Other (Expenses) Income	$ 0	$ 224	$ 0	$ 2,222

Segment Disclosure - Reconcilia

Segment Disclosure - Reconciliation to Consolidated Net Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Reconciliation to Consolidated Net Income (Loss)
Total Segment Net Operating Income	$ 14,027	$ 14,404	$ 40,156	$ 43,515
EXPENSES
General and Administrative	9,935	7,230	31,505	20,047
Acquisition-Related	0	265	0	555
Depreciation and Amortization	28,489	27,208	84,342	81,572
Total Expenses	38,424	34,703	115,847	102,174
Gross Loss	14,027	14,404	40,156	43,515
OTHER EXPENSES AND INCOME
Interest and Other Income	52	255	144	573
Interest Expense	(12,352)	(13,685)	(38,397)	(41,653)
Interest Expense and Net Change in Fair Value of Non-Qualifying Derivative Financial Instruments	23	68	66	80
Gain on sale of real estate	0	13,175	5,844	13,175
Income Before Provision for Income Taxes and Equity in Income of Unconsolidated Entities	1,750	14,217	7,813	15,690
Benefit (Provision) For Income Taxes	42	(140)	(521)	(579)
Equity in Income of Unconsolidated Entities	4,238	4,391	14,419	11,829	$ 28,823
NET INCOME	6,030	18,468	21,711	26,940
Operating Segments
Reconciliation to Consolidated Net Income (Loss)
Total Segment Net Operating Income	$ 52,451	$ 49,107	$ 156,003	$ 145,689

Segment Disclosure - Condensed

Segment Disclosure - Condensed Assets (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets		$ 2,746,290	$ 2,869,808
Operating Segments | Domestic Industrial Properties
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets		885,496	916,038
Operating Segments | Domestic Office Properties
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets		1,442,978	1,504,285
Corporate, Non-Segment | Non-Segment Assets
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	[1]	$ 417,816	$ 449,485
[1]	Non-segment assets primarily include our investments in unconsolidated entities.

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net Income	$ 6,030	$ 18,468	$ 21,711	$ 26,940
Allocation to Participating Securities (Nonvested Restricted Shares and Vested RSUs)	(36)	(101)	(116)	(353)
Numerator for Basic and Diluted Net Income	$ 5,994	$ 18,367	$ 21,595	$ 26,587
Basic Weighted Average Shares Outstanding	236,902,841	236,954,218	236,915,614	236,847,551
Effect of Dilutive Securities - Non-Vested Time-Based RSUs and PSUs	10,453	0	35,923	0
Diluted Weighted Average Shares Outstanding	236,913,294	236,954,218	236,951,537	236,847,551
Earnings Per Share, Basic and Diluted [Abstract]
Net Income per Share (in usd per share)	$ 0.03	$ 0.08	$ 0.09	$ 0.11

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - $ / shares	Oct. 20, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Subsequent Event [Line Items]
Distributions declared		$ 0.128	$ 0.126	$ 0.384	$ 0.378000
Subsequent Event
Subsequent Event [Line Items]
Distributions declared	$ 0.0425