GTJ Reit (GTTJ) 10-K 24 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 17, 2020	Jun. 30, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Trading Symbol	CK0001368757
Entity Registrant Name	GTJ REIT, INC.
Entity Central Index Key	0001368757
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Annual Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		13,537,856
Entity Public Float			$ 0
Entity Tax Identification Number	20-5188065
Entity File Number	333-136110
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	60 Hempstead Avenue
Entity Address, City or Town	West Hempstead
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11552
City Area Code	516
Local Phone Number	693-5500

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real estate, at cost:
Land	$ 197,745	$ 197,745
Buildings and improvements	300,063	297,152
Total real estate, at cost	497,808	494,897
Less: accumulated depreciation and amortization	(64,950)	(55,401)
Net real estate held for investment	432,858	439,496
Cash and cash equivalents	26,853	21,175
Restricted cash	2,232	3,895
Rental income in excess of amount billed	15,253	15,520
Acquired lease intangible assets, net	9,713	11,982
Investment in unconsolidated affiliate	4,096	5,255
Other assets	13,804	10,047
Total assets	504,809	507,370
Liabilities:
Mortgage notes payable, net	361,332	361,217
Secured revolving credit facility	40,000	40,000
Accounts payable and accrued expenses	4,306	4,417
Dividends payable	1,353	1,357
Acquired lease intangible liabilities, net	4,120	4,994
Other liabilities	8,049	5,670
Total liabilities	419,160	417,655
Commitments and contingencies (Note 9)
Equity:
Common stock, $.0001 par value; 100,000,000 shares authorized; 13,537,856 and 13,569,664 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	1	1
Additional paid-in capital	160,308	161,219
Distributions in excess of net income	(109,889)	(107,730)
Total stockholders’ equity	50,420	53,490
Noncontrolling interest	35,229	36,225
Total equity	85,649	89,715
Total liabilities and equity	504,809	507,370
Series A Preferred Stock [Member]
Equity:
Preferred stock, value
Series B Preferred Stock, Non-Voting [Member]
Equity:
Preferred stock, value

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	13,537,856	13,569,664
Common stock, shares outstanding	13,537,856	13,569,664
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock, Non-Voting [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	6,500,000	6,500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Rental income	$ 56,553	$ 56,901
Total revenues	56,553	56,901
Operating Expenses:
Property operating expenses	12,246	12,319
General and administrative	7,537	7,479
Depreciation and amortization	12,854	13,947
Write down of carrying value relating to demolished property		7,489
Total operating expenses	32,637	41,234
Operating income before gain on sale of real estate	23,916	15,667
Gain on sale of real estate		2,299
Operating income	23,916	17,966
Interest expense	(17,829)	(18,294)
Equity in earnings of unconsolidated affiliate	166	2,463
Other income	426	297
Net income	6,679	2,432
Less: Net income attributable to noncontrolling interest	2,199	619
Net income attributable to common stockholders	$ 4,480	$ 1,813
Net income per common share attributable to common stockholders-basic and diluted earnings per share	$ 0.33	$ 0.13
Weighted average common shares outstanding-basic	13,545,242	13,578,515
Weighted average common shares outstanding-diluted	13,582,690	13,599,602

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional-Paid-In-Capital [Member]	Distributions in Excess of Net Income [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2017	$ 97,586	$ 1	$ 161,812	$ (103,025)	$ 58,788	$ 38,798
Beginning Balance (in shares) at Dec. 31, 2017		13,594,125
Common stock dividends	(6,518)			(6,518)	(6,518)
Repurchases – common stock	(1,035)		(1,035)		(1,035)
Stock-based compensation	672		672		672
Issuance of shares		57,938
Retirement of Shares (in shares)		(82,399)
Distributions to noncontrolling interest	(3,422)					(3,422)
Net income	2,432			1,813	1,813	619
Reallocation of equity			(230)		(230)	230
Ending Balance at Dec. 31, 2018	89,715	$ 1	161,219	(107,730)	53,490	36,225
Ending Balance (in shares) at Dec. 31, 2018		13,569,664
Common stock dividends	(6,639)			(6,639)	(6,639)
Repurchases – common stock	(1,322)		(1,322)		(1,322)
Stock-based compensation	728		728		728
Issuance of shares		79,739
Retirement of Shares (in shares)		(111,547)
Distributions to noncontrolling interest	(3,512)					(3,512)
Net income	6,679			4,480	4,480	2,199
Reallocation of equity			(317)		(317)	317
Ending Balance at Dec. 31, 2019	$ 85,649	$ 1	$ 160,308	$ (109,889)	$ 50,420	$ 35,229
Ending Balance (in shares) at Dec. 31, 2019		13,537,856

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 6,679	$ 2,432
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of real estate		(2,299)
Depreciation	9,641	10,470
Amortization of intangible assets and deferred charges	3,775	4,008
Stock-based compensation	728	672
Rental income in excess of amount billed	284	(922)
Write-down of carrying value related to demolished asset		7,489
(Income) from equity investment in unconsolidated affiliate	(166)	(2,463)
Distributions from unconsolidated affiliate	171	1,842
Changes in operating assets and liabilities:
Other assets	(3,939)	(1,546)
Accounts payable and accrued expenses	553	(298)
Other liabilities	2,089	(680)
Net cash provided by operating activities	19,815	18,705
CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures for improvements to real estate	(4,538)	(5,123)
Investment in unconsolidated affiliate		(5,250)
Proceeds from the disposition of properties, net		19,753
Return on capital from unconsolidated affiliate	1,154	1,825
Net cash (used in) provided by investing activities	(3,384)	11,205
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from mortgage notes payable		33,000
Loan costs from mortgage notes payable		(795)
Proceeds from revolving credit facility		19,143
Loan costs from revolving credit facility	(154)
Payment of revolving credit facility		(15,000)
Payment of mortgage principal	(789)	(42,108)
Repurchases of common stock	(1,322)	(1,035)
Cash distributions to noncontrolling interests	(3,508)	(3,420)
Cash dividends paid	(6,643)	(6,519)
Net cash (used in) financing activities	(12,416)	(16,734)
Net increase in cash, cash equivalents and restricted cash	4,015	13,176
Cash and cash equivalents including restricted cash of $3,895 and $3,471, respectively, at the beginning of period	25,070	11,894
Cash and cash equivalents including restricted cash of $2,232 and $3,895, respectively, at the end of period	29,085	25,070
SUPPLEMENTAL DISCLOSURE CASH FLOW INFORMATION:
Cash paid for interest, net of amount capitalized of $206 for 2019 and $141 for 2018	16,819	17,098
Non-cash expenditures for real estate	444	1,121
Cash paid for income taxes	$ 73	$ 42

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statement Of Cash Flows [Abstract]
Restricted cash, at the beginning of period	$ 3,895	$ 3,471
Restricted cash, at the end of period	2,232	3,895
Cash paid for interest, capitalized amount	$ 206	$ 141

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Description of Business	1. ORGANIZATION AND DESCRIPTION OF BUSINESS: GTJ REIT, Inc. (the “Company” or “GTJ REIT”) was incorporated on June 26, 2006, under the Maryland General Corporation Law. The Company is focused primarily on the acquisition, ownership, management, and operation of commercial real estate located in New York, New Jersey, Connecticut and Delaware. The Company has elected to be treated as a real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended (the “Code”) and elected December 31 as its fiscal year end. Under the REIT operating structure, the Company is permitted to deduct the dividends paid to its stockholders when determining its taxable income. Assuming dividends equal or exceed the Company’s taxable income, the Company generally will not be required to pay federal corporate income taxes on such income. On January 17, 2013, the Company closed on a transaction with Wu/Lighthouse Portfolio, LLC, in which a limited partnership (the “Operating Partnership”) owned and controlled by the Company, acquired all outstanding ownership interests of a portfolio consisting of 25 commercial properties (the “Acquired Properties”) located in New York, New Jersey and Connecticut, in exchange for 33.29% of the outstanding limited partnership interest in the Operating Partnership. The outstanding limited partnership interest in the Operating Partnership exchanged for the Acquired Properties was increased to 33.78% due to post-closing adjustments, and to 34.67% due to the redemption of certain shares of GTJ REIT, Inc. common stock. The acquisition was recorded as a business combination and, accordingly, the purchase price was allocated to the assets acquired and liabilities assumed at fair value. As a result of this acquisition and the subsequent acquisition of seventeen properties and the sale of one property from 2014 through 2019, the Company currently beneficially owns a 65.33% interest in a total of 48 properties consisting of approximately 5.8 million square feet (unaudited) of primarily industrial properties on approximately 389 acres of land (unaudited) in New York, New Jersey, Connecticut and Delaware. At December 31, 2019, subject to certain anti-dilutive and other provisions contained in the governing agreements, the limited partnership interest in the Operating Partnership may be converted in the aggregate, into approximately 1.9 million shares of the Company’s common stock and approximately 5.3 million shares of the Company’s Series B preferred stock.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation: The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the financial statements of the Company, its wholly owned subsidiaries, and the Operating Partnership, as the Company makes all operating and financial decisions for (i.e., exercises control over) the Operating Partnership. All material intercompany transactions have been eliminated in consolidation. The ownership interests of the other investors in the Operating Partnership are recorded as noncontrolling interests. The Company has determined that redemptions of Company shares result in a reallocation between the Operating Partnership’s non-controlling interest (“OP NCI”) and Additional Paid-in-Capital (“APIC”). For the year ended December 31, 2019, the Company decreased its APIC with an offsetting increase to OP NCI of approximately $0.3 million. Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. Use of Estimates: The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, and related disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. All of these estimates reflect management’s best judgment about current economic and market conditions and their effects based on information available as of the date of these consolidated financial statements. If such conditions persist longer or deteriorate further than expected, it is reasonably possible that the judgments and estimates could change, which may result in impairments of certain assets. Significant estimates include the useful lives of long- lived assets including property, equipment and intangible assets, impairment of assets, collectability of receivables, contingencies, stock-based compensation, and fair value of assets and liabilities acquired in business combinations. Real Estate: Real estate assets are stated at cost, less accumulated depreciation and amortization. All costs related to the improvement or replacement of real estate properties, including interest expense on development properties, are capitalized. Acquisition related costs are capitalized for asset acquisitions. Additions, renovations, and improvements that enhance and/or extend the useful life of a property are also capitalized. Expenditures for ordinary maintenance, repairs, and improvements that do not materially prolong the normal useful life of an asset, are charged to operations as incurred. The Company capitalizes all direct costs of real estate under development until the end of the development period. In addition, the Company capitalizes the indirect cost of insurance and real estate taxes allocable to real estate under development during the development period. The Company also capitalizes interest using the avoided cost method for real estate under development during the development period. The Company will cease the capitalization of these costs when development activities are substantially completed and the property is available for occupancy by tenants, but no later than one year from the completion of major construction activity at which time the property is placed in service and depreciation commences. If the Company suspends substantially all activities related to development of a qualifying asset, the Company will cease capitalization of these costs until activities are resumed. Real estate under development was $5.6 million and $2.6 million as of December 31, 2019 and 2018, respectively, and is included in buildings and improvements on the Company’s balance sheet. Upon the acquisition of real estate properties, the relative fair value of the real estate purchased is allocated to the acquired tangible assets (generally consisting of land, buildings and building improvements, and tenant improvements) and identified intangible assets and liabilities (generally consisting of above-market and below-market leases and the origination value of in-place leases) in accordance with GAAP. We utilize methods similar to those used by independent appraisers in estimating the fair value of acquired assets and liabilities. The fair value of the tangible assets of an acquired property considers the value of the property “as-if-vacant.” In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above-market and below-market leases is estimated based on the differences between contractual rentals and the estimated market rents over the applicable lease term discounted back to the date of acquisition utilizing a discount rate adjusted for the credit risk associated with the respective tenants. The aggregate value of in-place leases is measured based on the avoided costs associated with lack of revenue over a market oriented lease-up period, the avoided leasing commissions, and other avoided costs common in similar leasing transactions. Mortgage notes payable assumed in connection with acquisitions are recorded at their fair value using current market interest rates for similar debt at the time of acquisitions. The capitalized above-market lease values are amortized as a reduction of rental revenue over the remaining term of the respective leases and the capitalized below-market lease values are amortized as an increase to rental revenue over the remaining term of the respective leases. The value of in-place leases is based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors considered include estimates of carrying costs during expected lease-up periods, current market conditions, and costs to execute similar leases. The values of in-place leases are amortized over the remaining term of the respective leases. If a tenant vacates its space prior to its contractual expiration date, any unamortized balance of the related intangible assets or liabilities is recorded as income or expense in the period. The total net impact to rental revenues due to the amortization of above-market and below-market leases was a net increase in rental revenue of approximately $0.6 million and $0.6 million for the years ended December 31, 2019 and December 31, 2018, respectively. As of December 31, 2019, approximately $0.8 million and $8.9 million (net of accumulated amortization) relating to above-market and in-place leases, respectively, are included in acquired lease intangible assets, net in the accompanying consolidated balance sheets. As of December 31, 2018, approximately $1.1 million and $10.9 million (net of accumulated amortization) relating to above-market and in-place leases, respectively, are included in acquired lease intangible assets, net in the accompanying consolidated balance sheets. As of December 31, 2019 and 2018, approximately $4.1 million and $5.0 million (net of accumulated amortization), respectively, relating to below-market leases is included in acquired lease intangible liabilities, net in the accompanying consolidated balance sheets. The following table presents the projected increase to rental revenue from the amortization of the acquired above-market and below-market lease intangibles and the increase to amortization expense of the in-place lease intangibles for properties owned at December 31, 2019, over the next five years and thereafter (in thousands): Increase to Net amortization rental revenues expense 2020 $ 660 $ 1,627 2021 510 1,400 2022 533 1,344 2023 635 1,189 2024 497 903 Thereafter 477 2,442 $ 3,312 $ 8,905 Depreciation and Amortization: The Company uses the straight-line method for depreciation and amortization. Properties and property improvements are depreciated over their estimated useful lives, which range from 5 to 40 years. Furniture, fixtures, and equipment are depreciated over estimated useful lives that range from 5 to 10 years. Tenant improvements are amortized over the shorter of the remaining non-cancellable term of the related leases or their useful lives. Deferred Charges: Deferred charges consist principally of leasing commissions, which are amortized over the life of the related tenant leases, and financing costs relating to our revolving credit facility, which are amortized over the terms of the respective debt agreements. These deferred charges are included in other assets on the consolidated balance sheets. If leases are terminated, the unamortized charges are expensed. Asset Impairment: Management reviews each real estate investment for impairment whenever events or circumstances indicate that the carrying value of a real estate investment may not be recoverable. The review of recoverability is based on an estimate of the undiscounted future cash flows that are expected to result from the real estate investment’s use and eventual disposition. Such cash flow analyses consider factors such as expected future operating income, trends and prospects, as well as the effects of leasing demand, competition and other factors. If an impairment event exists due to the projected inability to recover the carrying value of a real estate investment, an impairment loss is recorded to the extent that the carrying value exceeds estimated fair value. Management is required to make subjective assessments as to whether there are impairments in the value of the Company’s real estate holdings. These assessments could have a direct impact on net income, because an impairment loss is recognized in the period that the assessment is made. Management has determined that, based upon the demolition of its property located at 35 Executive Boulevard, Orange, Connecticut, and plans to construct a 41,000 square foot industrial building, an accelerated depreciation of $7.5 million was recorded during 2018. Management has determined that there was no impairment relating to its remaining long-lived assets during the year ended December 31, 2019. Reportable Segments: As of December 31, 2019, the Company primarily operated in one reportable segment, commercial real estate. Revenue Recognition: Rental income includes the base rent that each tenant is required to pay in accordance with the terms of their respective leases reported on a straight-line basis over the term of the lease. In order for management to determine, in its judgment, that the unbilled rent receivable applicable to each specific property is collectible, management reviews billed and unbilled rent receivables on a quarterly basis and takes into consideration the tenant’s payment history and financial condition. Beginning in 2019, if the Company determines that the collectability of a tenant’s lease payments is not probable, the write-off of the entire tenant receivable, including straight-line rent receivable, is presented as a reduction of revenue rather than an operating expense on the statement of operations. Rental income related to tenants where the collectability of lease payments is not deemed probable will be recorded on a cash basis. Some of the leases provide for additional contingent rental revenue in the form of percentage rents and increases based on the consumer price index, subject to certain maximums and minimums. Substantially all of the Company’s properties are subject to long-term net leases under which the tenant is typically responsible to pay for its pro rata share of real estate taxes, insurance, and ordinary maintenance and repairs for the property. Property operating expense recoveries from tenants of common area maintenance, real estate taxes, and other recoverable costs are recognized as revenues in the period that the related expenses are incurred. Earnings Per Share: The Company presents both basic and diluted earnings per share. Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, where such exercise or conversion would result in a lower per share amount. Restricted stock was included in the computation of basic and diluted earnings per share. Stock option awards were included in the computation of diluted earnings per share in 2019 and 2018 because the option awards were dilutive. Cash and Cash Equivalents: The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Restricted Cash: Restricted cash includes reserves used to pay real estate taxes, repairs, leasing costs and capital improvements. Restricted cash for prior periods included additional reserves to pay for insurance costs and a construction bond. Fair Value Measurement: The Company determines fair value in accordance with Accounting Standards Codification (“ASC”) 820-10-05 for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are applied. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or market and the instruments’ complexity. Assets and liabilities disclosed at fair values are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, which are defined by ASC 820-10-35, are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities. Determining which category an asset or liability falls within the hierarchy requires significant judgment, and the Company evaluates its hierarchy disclosures each quarter. The three-tier fair value hierarchy is as follows: Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 — Valuations based on unobservable inputs reflecting management’s own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. Income Taxes: The Company is organized and conducts its operations to qualify as a REIT for Federal income tax purposes. Accordingly, the Company is generally not subject to Federal income taxation on the portion of its distributable income that qualifies as REIT taxable income, to the extent that it distributes at least 90% of its REIT taxable income to its stockholders and complies with certain other requirements as defined in the Code. The Company also participates in certain activities conducted by entities which elected to be treated as taxable subsidiaries under the Code. As such, the Company is subject to federal, state, and local taxes on the income from these activities. The Company accounts for income taxes of the taxable subsidiaries under the asset and liability method as required by the provisions of ASC 740-10-30. Under this method, deferred tax assets and liabilities are established based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance for deferred tax assets for which it does not consider realization of such assets to be more likely than not. ASC 740-10-65 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10-65, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. ASC 740-10-65 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. As of December 31, 2019 and 2018, the Company had determined that no liabilities are required in connection with unrecognized tax positions. As of December 31, 2019, the Company’s tax returns for the prior three years are subject to review by the Internal Revenue Service. Any interest and penalties would be expensed as incurred. The Tax Cuts and Jobs Act (the “Act”) enacted in 2017 is a complex revision to the U.S. federal income tax laws with impacts on different categories of taxpayers and industries, and will require subsequent rulemaking and interpretation in a number of areas. The Act may impact certain of our tenants’ operating results, financial condition, and future business plans. There can be no assurance that the Act will not impact our operating results, financial condition, and future business operations. Concentrations of Credit Risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, which from time-to-time exceed the federal depository insurance coverage. All noninterest bearing transaction accounts deposited at an insured depository institution are insured by the Federal Deposit Insurance Corporation up to the standard maximum deposit insurance amount of $250,000. Management believes that the Company is not exposed to any significant credit risk due to the credit worthiness of the financial institutions. Rental income of $9.5 million, derived from five leases with the City of New York, represented 17% of the Company’s total rental income for the year ended December 31, 2019. Rental income of $9.6 million, derived from five leases with the City of New York, represented 17% of the Company’s total rental income for the year ended December 31, 2018. Stock-Based Compensation: The Company has a stock-based compensation plan, which is described below in Note 6. The Company accounts for stock-based compensation in accordance with ASC 718, which establishes accounting for stock-based awards. Under the provisions of ASC 718, share-based compensation cost is measured at the grant date, based on the fair value of the award, and is expensed at the grant date (for the portion that vests immediately) or ratably over the respective vesting periods. New Accounting Pronouncements: Lease Accounting In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, “Leases (Topic No. 842).” ASU 2016-02 requires lessees to recognize, at the commencement date, a lease liability for all leases with a term greater than 12 months, which is the lessee’s obligation to make lease payments arising from a lease and measure it on a discounted basis. A lessee must recognize an asset when it represents a lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged but updated to align with certain changes to the lessee model and the new revenue recognition standard. In addition, under the new guidance, if the Company determines that collectability of lease payments is not probable, the write-off of the entire tenant receivable, including straight-line rent receivable, is presented as a reduction of revenue rather than an operating expense on the statement of operations. Rental income related to tenants where the collectability of lease payments is not probable will be recorded on a cash basis. The new lease accounting permits companies to utilize certain practical expedients in the implementation of the new standard. The Company has elected to utilize a package of three practical expedients for all leases which includes, (i) not reassessing expired or existing contracts as to whether they are or contain leases; (ii) not reassessing lease classification of existing leases; and (iii) not reassessing the amount of capitalized initial direct costs for existing leases. ASU 2016-02 also specifies that upon adoption, lessors will no longer be able to capitalize and amortize certain leasing related costs and instead will only be permitted to capitalize and amortize incremental direct leasing costs. As a result, we have concluded that subsequent to adoption, there will be no change in the capitalization of costs as compared to what we have historically capitalized. ASU 2016-02 initially provided for one retrospective transition method for lessors; however, a second transition method was subsequently provided by ASU 2018-11 as described below. In July 2018, the FASB issued ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements,” which amended ASU 2016-02 to provide entities with an additional optional transition method to adopt ASU 2016-02. ASU 2018-11 simplifies transition requirements and, for lessors, provides a practical expedient for the separation of non-lease components from lease components. Specifically, ASU 2018-11 provides an option to apply the transition provisions of the new standard at its adoption date instead of at the earliest comparative period presented in the financial statements. In addition, ASU 2018-11 provides a practical expedient, by class of underlying asset, that permits lessors to make a policy election not to separate non-lease components from the associated lease component, and, instead, to account for those components as a single component if the non-lease components would otherwise be accounted for under the new revenue guidance (Topic 606). If certain conditions are met, the single component will be accounted for under either Topic 842 or Topic 606 depending on which component(s) are predominant. In July 2018, the FASB issued ASU No. 2018-10, “Codification Improvements to Topic 842, Leases.” These amendments provide clarifications and corrections to ASU 2016-02, Leases (Topic 842). In December 2018, the FASB issued ASU No. 2018-20, “Leases, (Topic 842): Narrow-Scope Improvements for Lessors”. These amendments clarify or simplify certain narrow aspects of ASC 842 for lessors. This ASU modifies ASU No. 2016-02 to permit lessors, as an accounting policy election, not to evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. Instead, those lessors will account for those costs as if they are lessee costs. Consequently, a lessor making this election will exclude from the consideration in the contract and from variable payments not included in the consideration in the contract all collections from lessees of taxes within the scope of the election and will provide certain disclosures (the accounting policy election includes sales, use, value added, and some excise taxes but excludes real estate taxes). The Company has elected not to evaluate whether the aforementioned costs are lessor or lessee costs. This ASU also provides that certain lessor costs require lessors to exclude from variable payments, and therefore revenue, specifically lessor costs paid by lessees directly to third parties. The amendments also require lessors to account for costs excluded from the consideration of a contract that are paid by the lessor and reimbursed by the lessee as variable payments. A lessor will record those reimbursed costs as revenue. The adoption of ASU 2018-20 did not have a material impact on the Company’s consolidated financial statements. ASU 2016-02 is effective for fiscal periods and interim periods within those fiscal periods beginning after December 15, 2018. The Company adopted ASU 2016-02 (as amended by subsequent ASUs) effective January 1, 2019 utilizing the new transition method described in ASU 2018-11 and the package of three practical expedients provided by ASU 2016-02 as described above. As lessor, the Company has more than sixty (60) leases primarily with industrial tenants and a significant majority of its leases are on a triple-net basis. The Company’s leases will continue to be classified as operating leases and the adoption of ASU 2016-02 did not have a material impact on Company’s financial position or results from operations. The Company has elected to use the practical expedient related to the separation of lease and non-lease components provided by ASU 2018-11. The Company has determined that the effect of electing this lessor practical expedient is that revenues related to leases will be reported on one line in the presentation within the consolidated statement of operations. The timing of revenue recognition is expected to be the same for the majority of the Company’s new leases as compared to similar existing leases. As lessee, the Company has elected to utilize the practical expedients in the implementation of ASU 2016-02 related to not separating non-lease components from the associated lease component. As lessee, the Company is a party to an office lease with future lease obligations aggregating to approximately $289,000 and $568,000 as of December 31, 2019 and December 31, 2018, respectively. The Company has recorded a right-of-use asset and corresponding right-of use liability at the present value of the remaining minimum rental payments, based upon an incremental borrowing rate of 5.256%, of approximately $541,000 as of January 1, 2019. The Company did not record any cumulative effect of change in accounting principle upon the adoption of ASC Topic 842 as lessor or lessee. However, in the consolidated statement of operations, tenant reimbursements for the prior reporting period have been included in rental income to conform with the presentation for the current reporting period. Other Accounting Topics In June 2018, the FASB issued ASU No. 2018-07, “Compensation - Stock Compensation (Topic 718) – Improvements to Nonemployee Share-Based Payment Accounting.” These amendments provide specific guidance for transactions for acquiring goods and services from nonemployees and specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (i) financing to the issuer or (ii) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. This guidance is effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The adoption of ASU 2018-07 did not have a material impact on the Company’s consolidated financial statements.

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Real Estate	3. REAL ESTATE: The changes in real estate for the years ended December 31, 2019 and 2018 are as follows (in thousands): 2019 2018 Balance at beginning of year $ 494,897 $ 522,186 Property disposition - (23,625 ) Property acquisitions - - Property demolished (1) - (9,171 ) Improvements, net 2,911 5,507 Balance at end of year $ 497,808 $ 494,897 (1) Due to the demolition of the property located at 35 Executive Boulevard, Orange, Connecticut. The changes in accumulated depreciation, exclusive of amounts relating to equipment, transportation equipment, and furniture and fixtures, for the years ended December 31, 2019 and 2018 are as follows (in thousands): 2019 2018 Balance at beginning of year $ 55,401 $ 55,136 Property disposition - (8,462 ) Property demolished - (1,682 ) Depreciation for year 9,549 10,409 Balance at end of year $ 64,950 $ 55,401 Farmington, Connecticut On July 16, 2018, the Company (through its Operating Partnership) sold the property located at 8 Farm Springs Road, Farmington, Connecticut for approximately $20.4 million, resulting in a net gain of approximately $2.3 million, net of $0.6 million in closing costs, $1.7 million of rental income in excess of amount billed and $0.6 million of unamortized deferred leasing charges. In connection with the sale of the property, the Operating Partnership reduced its outstanding borrowings under its secured revolving credit facility with Key Bank by $15.0 million. Piscataway, New Jersey On February 28, 2018, the Company (through its Operating Partnership) purchased an ownership interest in Two CPS Developers LLC (the “Joint Venture”) for $5.25 million. The Joint Venture owns a 132,650 square foot (unaudited) vacant office building located at 2 Corporate Place South, Piscataway, New Jersey, which was demolished and was replaced with a 150,325 square foot (unaudited) state-of-the-art 36-foot clear industrial building. The Operating Partnership financed the acquisition from funds available from its secured revolving credit facility with Key Bank.

Mortgage Notes Payable

Mortgage Notes Payable	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Mortgage Notes Payable	4. MORTGAGE NOTES PAYABLE: The following table sets forth a summary of the Company’s mortgage notes payable (in thousands): Principal Principal Outstanding as of Outstanding as of Loan Interest Rate December 31, 2019 December 31, 2018 Maturity Hartford Accident & Indemnity Company 5.20 % 6,000 6,000 3/1/2020 People’s United Bank 5.23 % 2,089 2,171 10/1/2020 People’s United Bank 4.18 % 15,500 15,500 10/15/2024 American International Group 4.05 % 233,100 233,100 3/1/2025 Allstate Life Insurance Company 4.00 % 37,937 38,644 4/1/2025 United States Life Insurance Company 3.82 % 39,000 39,000 1/1/2028 United States Life Insurance Company 4.25 % 33,000 33,000 4/1/2028 Subtotal 366,626 367,415 Unamortized loan costs (5,294 ) (6,198 ) Total $ 361,332 $ 361,217 People’s United Bank Loan Agreement: In connection with the acquisition in 2014 of an 84,000 square foot (unaudited) parking lot in Long Island City, Queens, NY, a wholly owned subsidiary of the Operating Partnership entered into a mortgage loan agreement with People’s United Bank in the aggregate amount of $15.5 million. The loan has a ten-year term and bears interest at 4.18%. Payments for the first seven years are interest only. Payments over the remaining three years of the term are based on a 25-year amortization schedule, with a balloon payment of $14.4 million due at maturity. American International Group Loan Agreement: On February 20, 2015, the Operating Partnership refinanced the current outstanding debt on certain properties and placed new financing on others by entering into a loan agreement (the “AIG Loan Agreement”) with American General Life Insurance Company, the Variable Life Insurance Company, The United States Life Insurance Company in the City of New York, American Home Assurance Company and Commerce and Industry Insurance Company. The AIG Loan Agreement provides a secured loan in the principal amount of $233.1 million (the “AIG Loan”). The AIG Loan is a 10-year term loan that requires interest only payments at the rate of 4.05% per annum. During the period from April 1, 2015, to February 1, 2025, payments of interest only will be payable in arrears with the entire principal balance plus any accrued and unpaid interest due and payable on March 1, 2025. The Operating Partnership’s obligation to pay the interest, principal and other amounts under the Loan Agreement are evidenced by the secured promissory notes executed on February 20, 2015 (the “AIG Notes”). The AIG Notes are secured by certain mortgages encumbering 28 properties in New York, New Jersey and Connecticut. Allstate Life Insurance Company Loan Agreement: On March 13, 2015, in connection with the acquisition of six properties in Piscataway, NJ, the Operating Partnership closed on a $39.1 million cross-collateralized mortgage (the “Allstate Loan”) from Allstate Life Insurance Company, Allstate Life Insurance Company of New York and American Heritage Life Insurance Company. The Allstate Loan Agreement provided a secured facility with a 10-year term loan. During the first three years of the term of the loan, it required interest only payments at the rate of 4% per annum. Following this period until the loan matures on April 1, 2025, payments will be based on a 30-year amortization schedule. United States Life Insurance Company Loan Agreement: On December 20, 2017, (the “Closing Date”) four wholly owned subsidiaries of the Operating Partnership (collectively, the “U.S. Life Borrowers”) entered in a loan agreement (the “U.S. Life Loan Agreement”) with the United States Life Insurance Company in the City of New York (the “Lender”). The U.S. Life Loan Agreement provides for a secured loan facility in the principal amount of $39.0 million (the “Loan Facility”). The Loan Facility is a 10-year term loan that requires interest only payments at the rate of 3.82% per annum. During the period from February 1, 2018 to December 1, 2027, payments of interest only on the principal balance of the Note (as defined below) will be payable in arrears, with the entire principal balance due and payable on January 1, 2028, the loan maturity date. Subject to certain conditions, the U.S Life Borrowers may prepay the outstanding loan amount in whole on or after January 1, 2023, by providing advance notice of the prepayment to the Lender and remitting a prepayment premium equal to the greater of 1% of the then outstanding principal amount of the Loan Facility or the then present value of the Note. The U.S Life Borrowers paid the Lender a one-time application fee of $50,000 in connection with the Loan Facility. The U.S. Life Borrowers’ obligation to pay the principal, interest and other amounts under the Loan Facility are evidenced by the secured promissory note executed by the U.S. Life Borrowers as of the Closing Date (the “Note”). The Note is secured by certain mortgages encumbering the U.S Life Borrowers’ properties (a total of four properties) located in New York, New Jersey and Delaware. In the event of default, the initial rate of interest on the Note will increase to the greatest of (i) 18% per annum, (ii) a per annum rate equal to 4% over the prime established rate, or (iii) a per annum rate equal to 5% over the original interest rate, all subject to the applicable state or federal laws. The Note contains other terms and provisions that are customary for instruments of this nature. Approximately $37.5 million from the loan proceeds were used to reduce the Company’s obligation under its secured revolving credit facility with Key Bank. United States Life Insurance Company Loan Agreement: On March 21, 2018, four wholly owned subsidiaries of the Operating Partnership refinanced the current outstanding debt on certain properties by entering into a loan agreement with the United States Life Insurance Company in the City of New York. The loan agreement provides for a secured loan facility in the principal amount of $33.0 million. The loan facility is a ten-year term loan that requires interest only payments at the rate of 4.25% per annum on the principal balance for the first five (5) years of the term and principal and interest payments (amortized over a 30-year period) during the second five (5) years of the term. The entire principal balance is due and payable on April 1, 2028, the loan maturity date. The Company used a portion of the proceeds from the loan facility to repay the remaining balance of a mortgage loan from Genworth Life Insurance Company Assumption of Loans: Certain of the Company’s acquired properties were encumbered by certain mortgage indebtedness. Concurrent with the acquisition of these properties, the Company, the Operating Partnership and the entity owners of the properties acquired entered into certain loan assumption and modification documents to facilitate the acquisition of the properties acquired. Below is a summary of the material terms of the arrangement with each lender. Hartford Accident & Indemnity Loan: In connection with the April 2014 acquisition of the Windsor Locks, CT property, a wholly owned subsidiary of the Operating Partnership assumed a $9.0 million mortgage that bore interest at 6.07%. A principal payment of $3.0 million was made in February 2017, and the interest rate was reduced to 5.20%. On February 25, 2020, the Company paid the remaining mortgage balance of $6.0 million from its existing cash balances. People’s United Bank Loan: Wu/LH 15 Progress Drive L.L.C., a wholly owned subsidiary of the Operating Partnership, entered into a $2.7 million mortgage loan with the bank, on September 30, 2010. The loan is secured by the properties located at 15 Progress Road and 30 Commerce Drive, Shelton, Connecticut and bears interest at a rate of 5.23%. The Operating Partnership is required to make monthly payments of principal and interest until the loan matures on October 1, 2020. The obligations under this loan agreement are also guaranteed by GTJ REIT. In connection with the loan agreements, the Company is required to comply with certain covenants. As of December 31, 2019, the Company was in compliance with all covenants. Principal Repayments: Scheduled principal repayments during the next five years and thereafter are as follows (in thousands): 2020 $ 8,825 2021 852 2022 1,157 2023 1,573 2024 16,115 Thereafter 338,104 Total $ 366,626

Secured Revolving Credit Facili

Secured Revolving Credit Facility	12 Months Ended
	Dec. 31, 2019
Line Of Credit Facility [Abstract]
Secured Revolving Credit Facility	5. SECURED REVOLVING CREDIT FACILITY: Key Bank Loan Agreement : On December 2, 2015, the Operating Partnership entered into a Credit Agreement (the “Key Bank Credit Agreement”) with Keybank National Association and Keybanc Capital Markets Inc., as lead arranger (collectively, “Key Bank”). The Key Bank Credit Agreement contemplated a $50.0 million revolving line of credit facility, with an initial term of two years, with a one-year extension option, subject to certain other customary conditions. Loans drawn down by the Operating Partnership under the facility will need to specify, at the Operating Partnership’s option, whether they are base-rate loans or LIBOR-rate loans. The base-rate loans initially bore a base rate of interest calculated as the sum of (i) the greater of: (a) the fluctuating annual rate of interest announced from time to time by Key Bank as its “prime rate,” (b) 0.5% above the rate announced by the Federal Reserve Bank of Cleveland (or Federal Funds Effective Rate), or (c) LIBOR plus 100 basis points (bps); plus (ii) 200 to 250 basis points (bps), depending on the overall leverage of the properties. The LIBOR-rate loans initially bore interest at a rate of LIBOR rate plus 300 to 350 bps, depending upon the overall leverage of the properties. Each revolving credit loan under the facility will be evidenced by separate promissory note(s). The Operating Partnership agreed to pay to Key Bank a facility unused fee in the amount calculated as 0.30% for usage less than 50% and 0.20% for usage 50% or greater, calculated as a per diem rate, multiplied by the excess of the total commitment over the outstanding principal amount of the loans under the facility at the time of the calculation. Key Bank has the right to reduce the amount of loan commitments under the facility provided that, among other things, they give an advance written notice of such reductions and that in no event the total commitment under the facility is less than $25.0 million. The Operating Partnership may at its option convert any of the revolving credit loans into a revolving credit loan of another type which loan will then bear interest as a base-rate loan or a LIBOR-rate loan, subject to certain conversion conditions. In addition, Key Bank also agreed to extend, from time to time, as the Operating Partnership may request, upon an advance written notice, swing loans in the total amount not to exceed $5.0 million. Such loans, if and when extended, will also be evidenced by separate promissory note(s). Due to the revolving nature of the facility, amounts prepaid under the facility may be borrowed again. The Key Bank Credit Agreement contemplates (i) mandatory prepayments by the Operating Partnership of any borrowings under the facility in excess of the total allowable commitment, among other events, and (ii) optional prepayments, without any penalty or premium, in whole or in part, subject to payments of any amounts due associated with the prepayment of LIBOR rate contracts. The Operating Partnership’s obligations under the facility are secured by a first priority lien and security interest to be held by the agents for Key Bank, in certain of the property, rights and interests of the Operating Partnership, the Guarantors (as defined below) and their subsidiaries now existing and as may be acquired (collectively, the “Collateral”). GTJ REIT, Inc., and each party to the Guaranty are collectively referred to as the “Guarantors.” The parties to the Key Bank Credit Agreement also entered into several side agreements, including, the Joinder Agreements, the Assignment of Interests, the Acknowledgments, the Mortgages, the Guaranty, and other agreements and instruments to facilitate the transactions contemplated under the Key Bank Credit Agreement. Such agreements contain terms and provisions that are customary for instruments of this nature. The Operating Partnership’s continuing ability to borrow under the facility will be subject to its ongoing compliance with various affirmative and negative covenants, including, among others, with respect to liquidity, minimum occupancy, total indebtedness and minimum net worth. The Credit Agreement contains events of default and remedies customary for loan transactions of this sort including, among others, those related to a default in the payment of principal or interest, a material inaccuracy of a representation or warranty, and a default with regard to performance of certain covenants. The Key Bank Credit Agreement also includes customary events of default (in certain cases subject to customary cure), in the event of which, amounts outstanding under the facility may be accelerated. The Key Bank Credit Agreement includes customary representations and warranties of the Operating Partnership which must continue to be true and correct in all material respects as a condition to future draws. On July 27, 2017, the Operating Partnership increased its line of credit facility with Key Bank from $50.0 million to $88.0 million. The $38.0 million increase could only be used for the acquisition of certain properties specified in the second amendment to the Key Bank Credit Agreement (including earnest money deposits) and the payment of customary closing costs. In addition, the maturity date under the Key Bank Credit Agreement was extended from December 1, 2017 to February 28, 2018, with an additional extension option to June 30, 2019, subject to the satisfaction of certain conditions. On December 20, 2017, the Operating Partnership refinanced certain properties acquired with its secured line of credit facility with Key Bank. As of result, the secured line of credit facility with Key Bank was reduced to $50.5 million, with the excess over $50.0 million only available for the purchase of a specified property. On February 27, 2018, the Operating Partnership increased its secured line of credit facility with Key Bank from $50.5 million to $55.0 million. In addition, the Operating Partnership exercised its option to extend the maturity date of the secured revolving line of credit facility with Key Bank to June 30, 2019. On July 31, 2018, the Operating Partnership reduced its line of credit facility with Key Bank from $55.0 million to $50.0 million. In addition, the maturity date of the secured revolving credit facility with Key Bank was extended from June 30, 2019 to June 30, 2020 and the applicable margin for LIBOR-rate loans and base-rate loans applicable to the secured revolving credit facility with Key Bank was reduced by 50 bps. The base rate loans bore a base rate of interest calculated as the sum of (i) the greater of: (a) the fluctuating annual rate of interest announced from time to time by Key Bank as its “prime rate,” (b) 50 bps above the rate announced by the Federal Reserve Bank of Cleveland (or Federal Funds Effective Rate), or (c) LIBOR plus 100 bps; plus (ii) 150 to 200 bps, depending on the overall leverage of the properties. The LIBOR rate loans bore interest at a rate of LIBOR plus 250 to 300 bps, depending upon the overall leverage of the properties. On September 11, 2019, the Operating Partnership entered into an amendment to the Key Bank Credit Agreement which reduced the applicable margin for LIBOR-rate loans and base-rate loans by 10 bps. The base-rate loans will bear a base rate of interest calculated as the sum of (i) the greater of: (a) the fluctuating annual rate of interest announced from time to time by Key Bank as its “prime rate,” (b) 50 bps above the rate announced by the Federal Reserve Bank of Cleveland (or Federal Funds Effective Rate), or (c) LIBOR plus 100 bps; plus (ii) 140 to 190 bps, depending on the overall leverage of the properties. The LIBOR-rate loans will bear interest at a rate of LIBOR plus 240 to 290 bps, depending upon the overall leverage of the properties. In addition, the maturity date of the secured revolving credit facility with Key Bank was extended from June 30, 2020 to June 30, 2022. The contemplated uses of proceeds under the Key Bank Credit Agreement include, among others, repayment of indebtedness, funding of acquisitions, development and capital improvements, as well as working capital expenditures. Outstanding borrowings under the secured revolving credit facility with Key Bank as of December 31, 2019 and December 31, 2018 were $40.0 million for both periods which are considered LIBOR-rate loans. As of December 31, 2019, the Operating Partnership was in compliance with all covenants required in connection with the Key Bank Credit Agreement.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Stockholders' Equity	6. STOCKHOLDERS’ EQUITY: Preferred Stock: The Company is authorized to issue 10,000,000 shares of preferred stock, $.0001 par value per share. Voting and other rights and preferences may be determined from time to time by the Board of Directors (the “Board of Directors” or “Board”) of the Company. The Company has designated 500,000 shares of preferred stock as Series A preferred stock, $.0001 par value per share. In addition, the Company has designated 6,500,000 shares of preferred stock as Series B preferred stock, $.0001 par value per share. There are no voting rights associated with the Series B preferred stock. There was no Series A preferred stock or Series B preferred stock outstanding as of December 31, 2019 and December 31, 2018. Common Stock: The Company is authorized to issue 100,000,000 shares of common stock, $.0001 par value per share. As of December 31, 2019, and 2018, the Company had a total of 13,537,856 and 13,569,664 shares issued and outstanding, respectively. Dividend Distributions: The following table presents dividends declared by the Company on its common stock during 2019 and 2018: Record Payment Dividend Declaration Date Date Date Per Share March 22, 2018 March 31, 2018 April 13, 2018 0.10 March 22, 2018 March 31, 2018 April 16, 2018 0.08 (1) June 7, 2018 June 30, 2018 July 13, 2018 0.10 August 7, 2018 September 30, 2018 October 15, 2018 0.10 November 6, 2018 December 31, 2018 January 14, 2019 0.10 March 18, 2019 March 31, 2019 April 12, 2019 0.09 (2) March 18, 2019 March 31, 2019 April 15, 2019 0.10 June 5, 2019 June 30, 2019 July 12, 2019 0.10 August 6, 2019 September 30, 2019 October 11, 2019 0.10 November 5, 2019 December 31, 2019 January 10, 2020 0.10 (1) Represents a supplemental 2017 dividend. (2) Represents a supplemental 2018 dividend. In order to qualify as a REIT, the Company must distribute at least 90% of its taxable income and must distribute 100% of its taxable income in order not to be subject to corporate federal income taxes on retained income. The Company anticipates it will distribute all of its taxable income to its stockholders. Because taxable income differs from cash flow from operations due to non-cash revenues or expenses (such as depreciation), in certain circumstances, the Company may generate operating cash flow in excess of its distributions or, alternatively, may be required to borrow to make sufficient distribution payments. Stock Based Compensation: On June 11, 2007, the Board of Directors approved the Company’s 2007 Incentive Award Plan (the “2007 Plan”). The 2007 Plan covered directors, officers, key employees and consultants of the Company. The purposes of the 2007 Plan was to further the growth, development, and financial success of the Company and to obtain and retain the services of the individuals considered essential to the long-term success of the Company. The 2007 Plan provided for awards in the form of restricted shares, incentive stock options, non-qualified stock options and stock appreciation rights. The aggregate number of shares of common stock which may have been awarded under the 2007 Plan was 1,000,000 shares. The 2007 Plan expired by its terms on June 11, 2017. The 2017 Incentive Award Plan (the “2017 Plan”) was adopted by the Board and became effective on April 24, 2017, subject to the approval of the Company’s stockholders which was obtained on June 8, 2017. The 2017 Plan has intended purposes to further the growth, development, and financial success of the Company and to obtain and retain the services of those individuals considered essential to the long-term success of the Company. The 2017 Plan provides for awards in the form of stock, stock units, incentive stock options, non-qualified stock options and stock appreciation rights. The aggregate number of shares of common stock which may be awarded under the 2017 Plan is 2,000,000 shares. As of December 31, 2019, the Company had 1,862,323 shares available for future issuance under the 2017 Plan. Dividends paid on restricted shares are recorded as dividends on shares of the Company’s common stock whether or not they are vested. In accordance with ASC 718-10-35, the Company measures the compensation costs for these shares as of the date of the grant and the expense is recognized in earnings, at the grant date (for the portion that vest immediately) and then ratably over the respective vesting periods. On February 7, 2008, 55,000 options were granted to non-employee directors and vested immediately and 200,000 options were granted to key officers of the Company which had a three-year vesting period. On June 9, 2011, the Company granted 10,000 options to a non-employee director which vested immediately. In 2017, the 200,000 options granted to key officers of the Company were exercised. The 55,000 options granted to non-employee directors expired in 2018. On November 8, 2016, 200,000 non-qualified stock options were granted to key officers of the Company and had a three-year vesting period. For this grant, the exercise price was $10.40 per share and was equal to the value per share based upon a valuation of the shares conducted by an independent third party for the purpose of valuing shares of the Company’s common stock. The fair value of these stock options was based upon the Black-Scholes option pricing model, calculated at the grant date. All options expire ten years from the date of grant. The stock compensation expense relating to these stock options was approximately $94,000 and $110,000 for the years ended December 31, 2019 and 2018, respectively. The following table presents shares issued by the Company under the 2007 Plan and the 2017 Plan: Shares Issued Under the 2007 Plan Grant Total Value Approximate Date Shares Issued Per Share Value of Shares Vesting Period April 30, 2012 55,149 $ 6.80 $ 375,000 3 Years (2) June 7, 2012 5,884 $ 6.80 $ 40,000 Immediately (1) March 21, 2013 46,876 $ 6.40 $ 300,000 3 Years (2) March 21, 2013 3,126 $ 6.40 $ 20,000 Immediately (1) June 6, 2013 9,378 $ 6.40 $ 60,000 Immediately (1) June 4, 2014 44,704 $ 6.80 $ 304,000 5 years (2) June 19, 2014 8,820 $ 6.80 $ 60,000 Immediately (1) March 26, 2015 43,010 $ 9.30 $ 400,000 5 years (2) June 19, 2015 16,436 $ 10.65 $ 175,000 Immediately (1) March 24, 2016 47,043 $ 10.40 $ 489,000 5 years (2) June 9, 2016 14,424 $ 10.40 $ 150,000 Immediately (1) May 22, 2017 34,482 $ 11.60 $ 400,000 9 years (2) May 31, 2017 7,929 $ 11.60 $ 92,000 Immediately (3) June 8, 2017 15,516 $ 11.60 $ 180,000 Immediately (1) Shares Issued Under the 2017 Plan Grant Total Value Approximate Date Shares Issued Per Share Value of Shares Vesting Period June 7, 2018 42,918 $ 11.65 $ 500,000 9 Years (2) June 7, 2018 15,020 $ 11.65 $ 175,000 Immediately (1) June 5, 2019 64,654 $ 11.60 $ 750,000 9 Years (2) June 5, 2019 15,085 $ 11.60 $ 175,000 Immediately (1) (1) Shares issued to non-management members of the Board of Directors. (2) Shares issued to certain executives of the Company. (3) Shares issued to current and former executives of the Company in connection with the exercise of previously issued options The Board of Directors has determined the value of a share of common stock to be $12.70 based on a valuation completed March 13, 2020, with the assistance of an independent third-party for the purpose of valuing shares of the Company’s common stock pursuant to the 2017 Plan. This value is not necessarily indicative of the fair market value of a share of the Company’s common stock. For the years ended December 31, 2019 and 2018, the Company’s total stock compensation expense was approximately $728,000 and $672,000, respectively. As of December 31, 2019, there was approximately $836,000 of unamortized stock compensation related to restricted stock. The cost is expected to be recognized over a weighted average period of 2.5 years. At December 31, 2019, 210,000 stock options were outstanding, 210,000 of which were exercisable, and 580,464 shares of restricted stock were outstanding, 508,158 of which were vested. The following is a summary of restricted stock activity: Weighted Average Grant Date Fair Shares Value Non-vested shares outstanding as of December 31, 2018 48,135 $ 11.35 New shares issued through December 31, 2019 79,739 11.60 Vested (55,568 ) 11.45 Non-vested shares outstanding as of December 31, 2019 72,306 $ 11.57 The following is a vesting schedule of the non-vested shares of restricted stock outstanding as of December 31, 2019: Number of Shares 2020 22,478 2021 15,368 2022 11,389 2023 8,571 2024 6,266 2025 4,258 Thereafter 3,976 Total Non-vested Shares 72,306

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings per Share	7. EARNINGS PER SHARE: Basic earnings per common share (“Basic EPS”) is computed by dividing the net income attributable to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per common share (“Diluted EPS”) is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares and dilutive common share equivalents then outstanding. There were 37,448 and 21,087 common share equivalents in 2019 and 2018, respectively, presented in diluted earnings per share. The following table sets forth the computation of basic and diluted earnings per share information for the years ended December 31, 2019 and 2018 (in thousands, except share and per share data): 2019 2018 Numerator: Net income attributable to common stockholders $ 4,480 $ 1,813 Denominator: Weighted average common shares outstanding – basic 13,545,242 13,578,515 Weighted average common shares outstanding – diluted 13,582,690 13,599,602 Basic and Diluted Per Share Information: Net income per share – basic and diluted $ 0.33 $ 0.13

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	8. RELATED PARTY TRANSACTIONS: Paul Cooper, the Chairman and Chief Executive Officer of the Company, and Louis Sheinker, the President, Secretary and Chief Operating Officer of the Company, each hold passive, minority ownership interests in a real estate brokerage firm, The Rochlin Organization. The firm acted as the exclusive broker for one of the Company’s properties. In 2013, the firm introduced a new tenant to the property, resulting in the execution of a lease agreement and a subsequent lease modification. The firm earned aggregate brokerage cash commissions of approximately $60,000 based on a total lease value of $1,015,000. In January 2014, the new tenant expanded its square footage which resulted in approximately $95,000 of brokerage commissions on the additional lease modification value of $2,100,000. In November 2015, the tenant concluded negotiations to expand its square footage which resulted in approximately $12,000 of brokerage commissions on the additional lease modification value of $200,000. In December 2016, the tenant concluded negotiations to expand its square footage which resulted in approximately $10,000 of brokerage commissions on the additional lease modification value of $332,000. In March 2018, the tenant exercised its option to renew its lease for the premises resulting in approximately $107,000 of brokerage commissions on the additional lease modification value of $3,600,000. In November 2018, the tenant concluded negotiations to expand its square footage which resulted in approximately $40,000 of brokerage commissions on the additional lease modification value of $670,000. The Company’s executive and administrative offices, located at 60 Hempstead Avenue, West Hempstead, New York, are being leased from Lighthouse Sixty, L.P., a partnership of which Paul Cooper and Louis Sheinker are managing members of the general partner. The lease agreement expires in 2020 and has a current annual base rent of approximately $289,000 with aggregate lease payments totaling $1.8 million during the term of the lease. On November 4, 2014, the Company invested $1.8 million for a limited partnership interest in Garden 1101 Stewart, L.P. (“Garden 1101”). Garden 1101 was formed for the purposes of acquiring an office building in Garden City, NY that was converted to a medical office building. The general partner of Garden 1101 is partially owned by Paul Cooper and Louis Sheinker. The investment is included in investment in unconsolidated affiliate on the consolidated balance sheets. On February 9, 2018, the property acquired by Garden 1101 was sold and the Company received a distribution from the partnership of $3.7 million which resulted in a gain from unconsolidated affiliate of $2.5 million in 2018. A gain of approximately $108,000 is included in income of unconsolidated affiliate on the consolidated statement of operations for the year ended December 31, 2019.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. COMMITMENTS AND CONTINGENCIES: Legal Matters: The Company is involved in lawsuits and other disputes which arise in the ordinary course of business. However, management believes that these matters will not have a material adverse effect, individually or in the aggregate, on the Company’s financial position or results of operations. Divestiture: On February 16, 2012, the Company received a notice from the Joint Industry Board of the Electrical Industry claiming a pension withdrawal liability in the amount of $1.5 million in connection with the divestiture of Shelter Electric. The Company determined the liability was probable and the Company agreed to pay the obligation in monthly installments of approximately $8,100 over a twenty-year term. As of December 31, 2019 and 2018, the present value of this obligation was approximately $1.0 million and $1.1 million, respectively, and is included in other liabilities on the accompanying consolidated balance sheets. Environmental Matters: As of December 31, 2019, three of the Company’s six former bus depot sites have received final regulatory closure, satisfying outstanding clean-up obligations related to legacy site contamination issues. Three sites continue with on-going cleanup, monitoring and reporting activities. The Company has determined that there is no liability needed for these on-going activities on the accompanying consolidated balance sheets.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value	10. FAIR VALUE: Fair Value of Financial Instruments: The fair value of the Company’s financial instruments is determined based upon applicable accounting guidance. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance requires disclosure of the level within the fair value hierarchy in which the fair value measurements fall, including measurements using quoted prices in active markets for identical assets or liabilities (Level 1), quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active (Level 2), and significant valuation assumptions that are not readily observable in the market (Level 3). The fair values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses approximated their carrying value because of the short-term nature based on Level 1 inputs. The fair values of mortgage notes payable and pension withdrawal liability are based on borrowing rates available to the Company, which are Level 2 inputs. The following table summarizes the carrying values and the estimated fair values of the financial instruments (in thousands): December 31, 2019 December 31, 2018 Carrying Estimated Carrying Estimated Value Value Value Value Financial assets: Cash and cash equivalents $ 26,853 $ 26,853 $ 21,175 $ 21,175 Restricted cash 2,232 2,232 3,895 3,895 Accounts receivable 517 517 415 415 Financial liabilities: Accounts payable and accrued expenses $ 4,306 $ 4,306 $ 4,417 $ 4,417 Secured revolving credit facility 40,000 40,000 40,000 40,000 Mortgage notes payable 366,626 367,856 367,415 358,949 Pension withdrawal liability 996 1,051 1,065 1,054

Other Retirement Benefits

Other Retirement Benefits	12 Months Ended
	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Other Retirement Benefits	11. OTHER RETIREMENT BENEFITS: Other Retirement Benefits: The Company sponsors retirement benefits under a defined contribution 401(k) plan which covers all employees who have completed one year of service and are at least 21 years of age. Contributions to this plan and charged to benefit costs for the years ended December 31, 2019 and 2018 were approximately $68,000 and $67,000, respectively. In November 2016, the Board of Directors of the Company approved the implementation of a profit-sharing contribution component to its existing 401(k) plan. Contributions to this component of the plan and charged to benefits costs for the years ended December 31, 2019 and 2018 were approximately $7,000 and $78,000, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	12. INCOME TAXES: The Company elected to be taxed as a REIT under the Code. A REIT will generally not be subject to federal income taxation on that portion of its income that qualifies as REIT taxable income, to the extent that it distributes at least 90% of its taxable income to its stockholders and complies with certain other requirements. It is management’s intention to adhere to these requirements and maintain the Company’s REIT status. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates (including any applicable minimum tax and may not be able to qualify as a REIT for four subsequent taxable years). Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income and federal income and excise taxes on its undistributed taxable income. In addition, taxable income from non-REIT activities managed through taxable REIT subsidiaries are subject to federal, state, and local income taxes. Income from “qualified dividends” payable to U.S. stockholders that are individuals, trusts and estates are generally subject to tax at preferential rates. Dividends payable by REITs, however, generally are not eligible for the preferential tax rates applicable to qualified dividend income. Although these rules do not adversely affect the taxation of REITs or dividends payable by REITs, to the extent that the preferential rates continue to apply to regular corporate qualified dividends, investors who are individuals, trusts and estates may perceive investments in REITs to be relatively less attractive than investments in the stocks of non-REIT corporations that pay dividends, which could materially and adversely affect the value of the shares of REITs, including the value of our common stock. Reconciliation between GAAP Net Income and Federal Taxable Income: The following table reconciles GAAP income from continuing operations to taxable income for the years ended December 31, 2019 and 2018 (in thousands): 2019 2018 Net income $ 6,679 $ 2,432 GAAP net (income) of taxable subsidiaries (337 ) (637 ) GAAP net income from REIT operations 6,342 1,795 Operating expense book deductions greater than tax 224 998 Book depreciation in excess of tax depreciation 953 3,757 GAAP amortization of intangibles in excess of tax amortization 1,395 1,721 Straightline rent adjustments 183 (874 ) Gain on sale of real estate - (4,577 ) Write down of carrying value relating to demolished property - 7,489 (Income) allocable to noncontrolling interest (3,154 ) (3,555 ) Estimated taxable income subject to the dividend requirement $ 5,943 $ 6,754 We have determined for income tax purposes that the 2019 regular dividends were considered both ordinary dividends and non-dividend distributions and the 2018 regular dividends were considered both ordinary dividends and capital gain distributions. The total distributions paid in 2019 were the result of cash flow from operations. The total distributions paid in 2018 were the result of cash flow from operations and investing activities. Taxable REIT Subsidiaries: The Company is subject to federal, state, and local income taxes on the income from its Taxable REIT subsidiaries (“TRS”) activities, which include all the discontinued operations of Shelter Express, Inc. and subsidiaries. There were no provisions for (benefit from) income taxes from discontinued operations for the years ended December 31, 2019 and 2018. The TRS entities have approximately $20.0 million of net operating loss carry-forwards at December 31, 2019. The Company has recorded a full valuation allowable against the deferred income tax assets as it does not consider realization of such assets to be more likely than not. The Company has determined that any changes in the value of the deferred income tax assets would have no impact on the Company’s consolidated financial statements inasmuch as it would be offset by a full valuation allowance.

Future Minimum Rent Schedule

Future Minimum Rent Schedule	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Future Minimum Rent Schedule	13. FUTURE MINIMUM RENT SCHEDULE: Future minimum contractual lease payments to be received by the Company (without taking into account straight-line rent or amortization of intangibles) as of December 31, 2019, under operating leases for the next five years and thereafter are as follows (in thousands): 2020 $ 45,611 2021 43,071 2022 38,467 2023 35,330 2024 29,154 Thereafter 84,050 Total $ 275,683 The lease agreements generally contain provisions for the reimbursement of real estate taxes and operating expenses, as well as fixed increases in rent.

Selected Quarterly Data

Selected Quarterly Data	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Data	14. SELECTED QUARTERLY DATA (Unaudited): The summarized selected quarterly data for the years ended December 31, 2019 and 2018 are as follows (in thousands except per share data). Year March 31 June 30 September 30 December 31 2019 Revenues $ 14,160 $ 13,974 $ 14,351 $ 14,068 Net income attributable to common stockholders 1,101 815 1,310 1,254 Per common share (basic and diluted)(a) 0.08 0.06 0.10 0.09 2018 Revenues 14,398 14,296 14,042 14,165 Net income (loss) attributable to common stockholders 2,434 665 (2,325 ) 1,039 Per common share (basic and diluted)(a) $ 0.18 $ 0.05 $ (0.17 ) $ 0.08 (a) Differences between the sum of the four quarterly per share amounts and the annual per share amount are attributable to the effect of the weighted average outstanding share calculations for the respective periods.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	15. SUBSEQUENT EVENTS: Purchase of Securities On February 13, 2020, GTJ REIT, Inc. (the “Company”) commenced a self-tender offer to purchase up to 425,531 shares of the Company’s common stock, par value $0.0001 per share (the “Shares”), or an aggregate of $4,999,989.25 of Shares, for cash at a purchase price equal to $11.75 per Share. The offer is scheduled to expire at 12:00 midnight, New York City Time, on March 31 , Recently, the outbreak of a novel strain of coronavirus (COVID-19) has adversely impacted global commercial activity and contributed to significant declines and volatility in financial markets. The COVID-19 pandemic and government responses are creating disruption in global supply chains and adversely impacting many industries. The outbreak could have a continued material adverse impact on economic and market conditions and trigger a period of global economic slowdown. The rapid development and fluidity of this situation precludes any prediction as to the ultimate material adverse impact of COVID-19. Nevertheless, COVID-19 presents uncertainty and risk with respect to the Company’s tenants, which could adversely affect the Company’s financial performance.

Schedule III- Consolidated Real

Schedule III- Consolidated Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2019
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III- Consolidated Real Estate and Accumulated Depreciation	GTJ REIT, Inc Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at Which Carried at December 31, 2019 Property Encumbrances Land Buildings & Improvements Improvements Land Buildings & Improvements Total Accumulated Depreciation Date of Construction Date Acquired New York Industrial: 103 Fairview Park Drive, Elmsford, NY G 3,416 9,972 375 3,416 10,347 13,763 2,070 1988 1/17/2013 412 Fairview Park Drive, Elmsford, NY D 3,237 572 — 3,237 572 3,809 100 n/a 1/17/2013 401 Fieldcrest Drive, Elmsford, NY D 3,008 7,097 — 3,008 7,097 10,105 1,279 n/a 1/17/2013 404 Fieldcrest Drive, Elmsford, NY G 2,275 7,822 306 2,275 8,128 10,403 1,534 1996 1/17/2013 36 Midland Ave, Port Chester, NY D 2,428 6,409 391 2,428 6,800 9,228 1,331 1979 1/17/2013 100-110 Midland Ave, Port Chester, NY D 5,390 16,463 320 5,390 16,783 22,173 3,069 1979 1/17/2013 199 Ridgewood Drive, Elmsford, NY D 827 1,916 — 827 1,916 2,743 381 1992 1/17/2013 203 Ridgewood Drive, Elmsford, NY D 948 2,265 — 948 2,265 3,213 443 1986 1/17/2013 8 Slater Street, Port Chester, NY D 1,997 4,640 413 1,997 5,053 7,050 1,078 1984 1/17/2013 612 Wortman Ave, Brooklyn, NY D 8,907 117 4,284 8,907 4,401 13,308 3,668 1965 3/26/2007 165-25 147th Ave, Jamaica, NY D 360 3,821 856 360 4,677 5,037 4,677 1952 3/26/2007 114-15 Guy Brewer Blvd, Jamaica, NY D 23,100 6 2,067 23,100 2,073 25,173 2,073 1965 3/26/2007 49-19 Rockaway Beach Blvd, Far Rockaway, NY D 74 783 31 74 814 888 814 1931 3/26/2007 85-01 24th Ave, East Elmhurst, NY D 38,210 937 2,343 38,210 3,280 41,490 3,146 1954 3/26/2007 23-85 87th Street, East Elmhurst, NY D 14,506 323 1,168 14,637 1,360 15,997 1,123 1966 3/26/2007 28-20 Borden Ave, Long Island City, NY A 26,678 98 214 26,678 312 26,990 111 1992 7/2/2014 606 Cozine Ave, Brooklyn, NY F 3,304 6,469 - 3,304 6,469 9,773 1,581 1969 5/10/2016 201 Neelytown Road, Montgomery, NY F 4,751 27,906 - 4,751 27,906 32,657 2,020 2017 8/31/2017 Retail: 112 Midland Ave, Port Chester, NY D 786 422 — 786 422 1,208 107 1980 3/26/2007 Total NY: 144,202 98,038 12,768 144,333 110,675 255,008 30,605 New Jersey Industrial: 100 American Road, Morris Plains, NJ D 2,275 12,538 696 2,275 13,234 15,509 2,575 1986 1/17/2013 200 American Road, Morris Plains, NJ D 725 5,361 50 725 5,411 6,136 1,015 2004 1/17/2013 300 American Road, Morris Plains, NJ G 1,466 6,628 47 1,466 6,675 8,141 1,279 1987 1/17/2013 400 American Road, Morris Plains, NJ D 1,724 9,808 345 1,724 10,153 11,877 2,071 1990 1/17/2013 500 American Road, Morris Plains, NJ G 1,711 8,111 — 1,711 8,111 9,822 1,539 1988 1/17/2013 20 East Halsey Road, Parsippany, NJ 1,898 1,402 5,830 1,898 7,232 9,130 970 1970 4/23/2014 1110 Centennial Ave, Piscataway, NJ E 790 1,937 75 790 2,012 2,802 313 1979 3/13/2015 11 Constitution Ave, Piscataway, NJ E 1,780 8,999 179 1,780 9,178 10,958 1,199 1989 3/13/2015 21 Constitution Ave, Piscataway, NJ E 6,187 18,855 - 6,187 18,855 25,042 2,724 2004 3/13/2015 4 Corporate Place, Piscataway, NJ E 2,145 1,744 144 2,145 1,888 4,033 383 1974 3/13/2015 8 Corporate Place, Piscataway, NJ E 2,666 4,381 - 2,666 4,381 7,047 802 1977 3/13/2015 1938 Olney Avenue, Cherry Hill, NJ F 1,176 5,357 - 1,176 5,357 6,533 659 1966 7/27/2017 Office/Data Center: 25 Corporate Place, Piscataway, NJ E 2,269 8,343 - 2,269 8,343 10,612 1,245 1985 3/13/2015 Total NJ: 26,812 93,464 7,366 26,812 100,830 127,642 16,774 Connecticut Industrial: 466 Bridgeport Ave, Shelton, CT 833 867 3,235 833 4,102 4,935 883 1982 1/17/2013 470 Bridgeport Ave, Shelton, CT D 2,660 4,807 250 4,156 5,057 9,213 1,181 1973 1/17/2013 15 Progress Drive, Shelton, CT C 984 3,411 — 984 3,411 4,395 719 1980 1/17/2013 33 Platt Road, Shelton, CT D 3,196 5,402 — 3,196 5,402 8,598 1,909 1972 10/15/2014 950-974 Bridgeport Ave, Milford, CT D 1,551 3,524 48 1,551 3,572 5,123 686 1946 1/17/2013 12 Cascade Blvd, Orange, CT D 1,688 3,742 2 1,688 3,744 5,432 678 1987 1/17/2013 15 Executive Blvd., Orange, CT D 1,974 5,357 1,027 1,974 6,384 8,358 1,568 1983 1/17/2013 25 Executive Blvd., Orange, CT D 438 1,481 59 438 1,540 1,978 268 1983 1/17/2013 22 Marsh Hill Rd, Orange, CT D 1,462 2,915 575 1,462 3,490 4,952 766 1989 1/17/2013 269 Lambert Rd, Orange, CT D 1,666 3,516 230 1,666 3,746 5,412 909 1986 1/17/2013 110 Old County Circle, Windsor Locks, CT B 1,572 11,797 60 1,572 11,857 13,429 2,855 2003 4/8/2014 112 Old County Road, Windsor Locks, CT 200 — 5,678 200 5,678 5,878 293 2018 4/8/2014 4 Meadow Street, Norwalk, CT D 856 3,034 530 856 3,564 4,420 687 1992 8/22/2014 777 Brook Street, Rocky Hill, CT D 2,456 8,658 415 2,456 9,073 11,529 1,542 1969 1/14/2015 35 Executive Blvd., Orange, CT (1) D 1,080 8,909 (4,407 ) 1,080 4,502 5,582 - 2020 1/17/2013 Total CT: 22,616 67,420 7,702 24,112 75,122 99,234 14,944 Delaware Industrial: 300 McIntire Drive, Newark, DE F 2,488 13,033 403 2,488 13,436 15,924 2,627 1999 6/1/2016 Total DE: 2,488 13,033 403 2,488 13,436 15,924 2,627 Grand Total: 196,118 271,955 28,239 197,745 300,063 497,808 64,950 Lender Principal Outstanding A—People’s United Bank $ 15,500 B—Hartford Accident 6,000 C—People’s United Bank 2,089 D—American International Group 233,100 E—Allstate Corporation 37,937 F—United States Life Insurance Company 39,000 G—United States Life Insurance Company 33,000 Total $ 366,626

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the financial statements of the Company, its wholly owned subsidiaries, and the Operating Partnership, as the Company makes all operating and financial decisions for (i.e., exercises control over) the Operating Partnership. All material intercompany transactions have been eliminated in consolidation. The ownership interests of the other investors in the Operating Partnership are recorded as noncontrolling interests. The Company has determined that redemptions of Company shares result in a reallocation between the Operating Partnership’s non-controlling interest (“OP NCI”) and Additional Paid-in-Capital (“APIC”). For the year ended December 31, 2019, the Company decreased its APIC with an offsetting increase to OP NCI of approximately $0.3 million. Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.
Use of Estimates	Use of Estimates: The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, and related disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. All of these estimates reflect management’s best judgment about current economic and market conditions and their effects based on information available as of the date of these consolidated financial statements. If such conditions persist longer or deteriorate further than expected, it is reasonably possible that the judgments and estimates could change, which may result in impairments of certain assets. Significant estimates include the useful lives of long- lived assets including property, equipment and intangible assets, impairment of assets, collectability of receivables, contingencies, stock-based compensation, and fair value of assets and liabilities acquired in business combinations.
Real Estate	Real Estate: Real estate assets are stated at cost, less accumulated depreciation and amortization. All costs related to the improvement or replacement of real estate properties, including interest expense on development properties, are capitalized. Acquisition related costs are capitalized for asset acquisitions. Additions, renovations, and improvements that enhance and/or extend the useful life of a property are also capitalized. Expenditures for ordinary maintenance, repairs, and improvements that do not materially prolong the normal useful life of an asset, are charged to operations as incurred. The Company capitalizes all direct costs of real estate under development until the end of the development period. In addition, the Company capitalizes the indirect cost of insurance and real estate taxes allocable to real estate under development during the development period. The Company also capitalizes interest using the avoided cost method for real estate under development during the development period. The Company will cease the capitalization of these costs when development activities are substantially completed and the property is available for occupancy by tenants, but no later than one year from the completion of major construction activity at which time the property is placed in service and depreciation commences. If the Company suspends substantially all activities related to development of a qualifying asset, the Company will cease capitalization of these costs until activities are resumed. Real estate under development was $5.6 million and $2.6 million as of December 31, 2019 and 2018, respectively, and is included in buildings and improvements on the Company’s balance sheet. Upon the acquisition of real estate properties, the relative fair value of the real estate purchased is allocated to the acquired tangible assets (generally consisting of land, buildings and building improvements, and tenant improvements) and identified intangible assets and liabilities (generally consisting of above-market and below-market leases and the origination value of in-place leases) in accordance with GAAP. We utilize methods similar to those used by independent appraisers in estimating the fair value of acquired assets and liabilities. The fair value of the tangible assets of an acquired property considers the value of the property “as-if-vacant.” In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above-market and below-market leases is estimated based on the differences between contractual rentals and the estimated market rents over the applicable lease term discounted back to the date of acquisition utilizing a discount rate adjusted for the credit risk associated with the respective tenants. The aggregate value of in-place leases is measured based on the avoided costs associated with lack of revenue over a market oriented lease-up period, the avoided leasing commissions, and other avoided costs common in similar leasing transactions. Mortgage notes payable assumed in connection with acquisitions are recorded at their fair value using current market interest rates for similar debt at the time of acquisitions. The capitalized above-market lease values are amortized as a reduction of rental revenue over the remaining term of the respective leases and the capitalized below-market lease values are amortized as an increase to rental revenue over the remaining term of the respective leases. The value of in-place leases is based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors considered include estimates of carrying costs during expected lease-up periods, current market conditions, and costs to execute similar leases. The values of in-place leases are amortized over the remaining term of the respective leases. If a tenant vacates its space prior to its contractual expiration date, any unamortized balance of the related intangible assets or liabilities is recorded as income or expense in the period. The total net impact to rental revenues due to the amortization of above-market and below-market leases was a net increase in rental revenue of approximately $0.6 million and $0.6 million for the years ended December 31, 2019 and December 31, 2018, respectively. As of December 31, 2019, approximately $0.8 million and $8.9 million (net of accumulated amortization) relating to above-market and in-place leases, respectively, are included in acquired lease intangible assets, net in the accompanying consolidated balance sheets. As of December 31, 2018, approximately $1.1 million and $10.9 million (net of accumulated amortization) relating to above-market and in-place leases, respectively, are included in acquired lease intangible assets, net in the accompanying consolidated balance sheets. As of December 31, 2019 and 2018, approximately $4.1 million and $5.0 million (net of accumulated amortization), respectively, relating to below-market leases is included in acquired lease intangible liabilities, net in the accompanying consolidated balance sheets. The following table presents the projected increase to rental revenue from the amortization of the acquired above-market and below-market lease intangibles and the increase to amortization expense of the in-place lease intangibles for properties owned at December 31, 2019, over the next five years and thereafter (in thousands): Increase to Net amortization rental revenues expense 2020 $ 660 $ 1,627 2021 510 1,400 2022 533 1,344 2023 635 1,189 2024 497 903 Thereafter 477 2,442 $ 3,312 $ 8,905
Depreciation and Amortization	Depreciation and Amortization: The Company uses the straight-line method for depreciation and amortization. Properties and property improvements are depreciated over their estimated useful lives, which range from 5 to 40 years. Furniture, fixtures, and equipment are depreciated over estimated useful lives that range from 5 to 10 years. Tenant improvements are amortized over the shorter of the remaining non-cancellable term of the related leases or their useful lives.
Deferred Charges	Deferred Charges: Deferred charges consist principally of leasing commissions, which are amortized over the life of the related tenant leases, and financing costs relating to our revolving credit facility, which are amortized over the terms of the respective debt agreements. These deferred charges are included in other assets on the consolidated balance sheets. If leases are terminated, the unamortized charges are expensed.
Asset Impairment	Asset Impairment: Management reviews each real estate investment for impairment whenever events or circumstances indicate that the carrying value of a real estate investment may not be recoverable. The review of recoverability is based on an estimate of the undiscounted future cash flows that are expected to result from the real estate investment’s use and eventual disposition. Such cash flow analyses consider factors such as expected future operating income, trends and prospects, as well as the effects of leasing demand, competition and other factors. If an impairment event exists due to the projected inability to recover the carrying value of a real estate investment, an impairment loss is recorded to the extent that the carrying value exceeds estimated fair value. Management is required to make subjective assessments as to whether there are impairments in the value of the Company’s real estate holdings. These assessments could have a direct impact on net income, because an impairment loss is recognized in the period that the assessment is made. Management has determined that, based upon the demolition of its property located at 35 Executive Boulevard, Orange, Connecticut, and plans to construct a 41,000 square foot industrial building, an accelerated depreciation of $7.5 million was recorded during 2018. Management has determined that there was no impairment relating to its remaining long-lived assets during the year ended December 31, 2019.
Reportable Segments	Reportable Segments: As of December 31, 2019, the Company primarily operated in one reportable segment, commercial real estate.
Revenue Recognition	Revenue Recognition: Rental income includes the base rent that each tenant is required to pay in accordance with the terms of their respective leases reported on a straight-line basis over the term of the lease. In order for management to determine, in its judgment, that the unbilled rent receivable applicable to each specific property is collectible, management reviews billed and unbilled rent receivables on a quarterly basis and takes into consideration the tenant’s payment history and financial condition. Beginning in 2019, if the Company determines that the collectability of a tenant’s lease payments is not probable, the write-off of the entire tenant receivable, including straight-line rent receivable, is presented as a reduction of revenue rather than an operating expense on the statement of operations. Rental income related to tenants where the collectability of lease payments is not deemed probable will be recorded on a cash basis. Some of the leases provide for additional contingent rental revenue in the form of percentage rents and increases based on the consumer price index, subject to certain maximums and minimums. Substantially all of the Company’s properties are subject to long-term net leases under which the tenant is typically responsible to pay for its pro rata share of real estate taxes, insurance, and ordinary maintenance and repairs for the property. Property operating expense recoveries from tenants of common area maintenance, real estate taxes, and other recoverable costs are recognized as revenues in the period that the related expenses are incurred.
Earnings Per Share	Earnings Per Share: The Company presents both basic and diluted earnings per share. Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, where such exercise or conversion would result in a lower per share amount. Restricted stock was included in the computation of basic and diluted earnings per share. Stock option awards were included in the computation of diluted earnings per share in 2019 and 2018 because the option awards were dilutive.
Cash and Cash Equivalents	Cash and Cash Equivalents: The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents.
Restricted Cash	Restricted Cash: Restricted cash includes reserves used to pay real estate taxes, repairs, leasing costs and capital improvements. Restricted cash for prior periods included additional reserves to pay for insurance costs and a construction bond.
Fair Value Measurement	Fair Value Measurement: The Company determines fair value in accordance with Accounting Standards Codification (“ASC”) 820-10-05 for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are applied. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or market and the instruments’ complexity. Assets and liabilities disclosed at fair values are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, which are defined by ASC 820-10-35, are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities. Determining which category an asset or liability falls within the hierarchy requires significant judgment, and the Company evaluates its hierarchy disclosures each quarter. The three-tier fair value hierarchy is as follows: Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 — Valuations based on unobservable inputs reflecting management’s own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.
Income Taxes	Income Taxes: The Company is organized and conducts its operations to qualify as a REIT for Federal income tax purposes. Accordingly, the Company is generally not subject to Federal income taxation on the portion of its distributable income that qualifies as REIT taxable income, to the extent that it distributes at least 90% of its REIT taxable income to its stockholders and complies with certain other requirements as defined in the Code. The Company also participates in certain activities conducted by entities which elected to be treated as taxable subsidiaries under the Code. As such, the Company is subject to federal, state, and local taxes on the income from these activities. The Company accounts for income taxes of the taxable subsidiaries under the asset and liability method as required by the provisions of ASC 740-10-30. Under this method, deferred tax assets and liabilities are established based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance for deferred tax assets for which it does not consider realization of such assets to be more likely than not. ASC 740-10-65 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10-65, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. ASC 740-10-65 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. As of December 31, 2019 and 2018, the Company had determined that no liabilities are required in connection with unrecognized tax positions. As of December 31, 2019, the Company’s tax returns for the prior three years are subject to review by the Internal Revenue Service. Any interest and penalties would be expensed as incurred. The Tax Cuts and Jobs Act (the “Act”) enacted in 2017 is a complex revision to the U.S. federal income tax laws with impacts on different categories of taxpayers and industries, and will require subsequent rulemaking and interpretation in a number of areas. The Act may impact certain of our tenants’ operating results, financial condition, and future business plans. There can be no assurance that the Act will not impact our operating results, financial condition, and future business operations.
Concentrations of Credit Risk	Concentrations of Credit Risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, which from time-to-time exceed the federal depository insurance coverage. All noninterest bearing transaction accounts deposited at an insured depository institution are insured by the Federal Deposit Insurance Corporation up to the standard maximum deposit insurance amount of $250,000. Management believes that the Company is not exposed to any significant credit risk due to the credit worthiness of the financial institutions. Rental income of $9.5 million, derived from five leases with the City of New York, represented 17% of the Company’s total rental income for the year ended December 31, 2019. Rental income of $9.6 million, derived from five leases with the City of New York, represented 17% of the Company’s total rental income for the year ended December 31, 2018.
Stock-Based Compensation	Stock-Based Compensation: The Company has a stock-based compensation plan, which is described below in Note 6. The Company accounts for stock-based compensation in accordance with ASC 718, which establishes accounting for stock-based awards. Under the provisions of ASC 718, share-based compensation cost is measured at the grant date, based on the fair value of the award, and is expensed at the grant date (for the portion that vests immediately) or ratably over the respective vesting periods.
New Accounting Pronouncements	New Accounting Pronouncements: Lease Accounting In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, “Leases (Topic No. 842).” ASU 2016-02 requires lessees to recognize, at the commencement date, a lease liability for all leases with a term greater than 12 months, which is the lessee’s obligation to make lease payments arising from a lease and measure it on a discounted basis. A lessee must recognize an asset when it represents a lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged but updated to align with certain changes to the lessee model and the new revenue recognition standard. In addition, under the new guidance, if the Company determines that collectability of lease payments is not probable, the write-off of the entire tenant receivable, including straight-line rent receivable, is presented as a reduction of revenue rather than an operating expense on the statement of operations. Rental income related to tenants where the collectability of lease payments is not probable will be recorded on a cash basis. The new lease accounting permits companies to utilize certain practical expedients in the implementation of the new standard. The Company has elected to utilize a package of three practical expedients for all leases which includes, (i) not reassessing expired or existing contracts as to whether they are or contain leases; (ii) not reassessing lease classification of existing leases; and (iii) not reassessing the amount of capitalized initial direct costs for existing leases. ASU 2016-02 also specifies that upon adoption, lessors will no longer be able to capitalize and amortize certain leasing related costs and instead will only be permitted to capitalize and amortize incremental direct leasing costs. As a result, we have concluded that subsequent to adoption, there will be no change in the capitalization of costs as compared to what we have historically capitalized. ASU 2016-02 initially provided for one retrospective transition method for lessors; however, a second transition method was subsequently provided by ASU 2018-11 as described below. In July 2018, the FASB issued ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements,” which amended ASU 2016-02 to provide entities with an additional optional transition method to adopt ASU 2016-02. ASU 2018-11 simplifies transition requirements and, for lessors, provides a practical expedient for the separation of non-lease components from lease components. Specifically, ASU 2018-11 provides an option to apply the transition provisions of the new standard at its adoption date instead of at the earliest comparative period presented in the financial statements. In addition, ASU 2018-11 provides a practical expedient, by class of underlying asset, that permits lessors to make a policy election not to separate non-lease components from the associated lease component, and, instead, to account for those components as a single component if the non-lease components would otherwise be accounted for under the new revenue guidance (Topic 606). If certain conditions are met, the single component will be accounted for under either Topic 842 or Topic 606 depending on which component(s) are predominant. In July 2018, the FASB issued ASU No. 2018-10, “Codification Improvements to Topic 842, Leases.” These amendments provide clarifications and corrections to ASU 2016-02, Leases (Topic 842). In December 2018, the FASB issued ASU No. 2018-20, “Leases, (Topic 842): Narrow-Scope Improvements for Lessors”. These amendments clarify or simplify certain narrow aspects of ASC 842 for lessors. This ASU modifies ASU No. 2016-02 to permit lessors, as an accounting policy election, not to evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. Instead, those lessors will account for those costs as if they are lessee costs. Consequently, a lessor making this election will exclude from the consideration in the contract and from variable payments not included in the consideration in the contract all collections from lessees of taxes within the scope of the election and will provide certain disclosures (the accounting policy election includes sales, use, value added, and some excise taxes but excludes real estate taxes). The Company has elected not to evaluate whether the aforementioned costs are lessor or lessee costs. This ASU also provides that certain lessor costs require lessors to exclude from variable payments, and therefore revenue, specifically lessor costs paid by lessees directly to third parties. The amendments also require lessors to account for costs excluded from the consideration of a contract that are paid by the lessor and reimbursed by the lessee as variable payments. A lessor will record those reimbursed costs as revenue. The adoption of ASU 2018-20 did not have a material impact on the Company’s consolidated financial statements. ASU 2016-02 is effective for fiscal periods and interim periods within those fiscal periods beginning after December 15, 2018. The Company adopted ASU 2016-02 (as amended by subsequent ASUs) effective January 1, 2019 utilizing the new transition method described in ASU 2018-11 and the package of three practical expedients provided by ASU 2016-02 as described above. As lessor, the Company has more than sixty (60) leases primarily with industrial tenants and a significant majority of its leases are on a triple-net basis. The Company’s leases will continue to be classified as operating leases and the adoption of ASU 2016-02 did not have a material impact on Company’s financial position or results from operations. The Company has elected to use the practical expedient related to the separation of lease and non-lease components provided by ASU 2018-11. The Company has determined that the effect of electing this lessor practical expedient is that revenues related to leases will be reported on one line in the presentation within the consolidated statement of operations. The timing of revenue recognition is expected to be the same for the majority of the Company’s new leases as compared to similar existing leases. As lessee, the Company has elected to utilize the practical expedients in the implementation of ASU 2016-02 related to not separating non-lease components from the associated lease component. As lessee, the Company is a party to an office lease with future lease obligations aggregating to approximately $289,000 and $568,000 as of December 31, 2019 and December 31, 2018, respectively. The Company has recorded a right-of-use asset and corresponding right-of use liability at the present value of the remaining minimum rental payments, based upon an incremental borrowing rate of 5.256%, of approximately $541,000 as of January 1, 2019. The Company did not record any cumulative effect of change in accounting principle upon the adoption of ASC Topic 842 as lessor or lessee. However, in the consolidated statement of operations, tenant reimbursements for the prior reporting period have been included in rental income to conform with the presentation for the current reporting period. Other Accounting Topics In June 2018, the FASB issued ASU No. 2018-07, “Compensation - Stock Compensation (Topic 718) – Improvements to Nonemployee Share-Based Payment Accounting.” These amendments provide specific guidance for transactions for acquiring goods and services from nonemployees and specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (i) financing to the issuer or (ii) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. This guidance is effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The adoption of ASU 2018-07 did not have a material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of Projected Impact of Above Market Below Market and In-Place Lease Intangibles	The following table presents the projected increase to rental revenue from the amortization of the acquired above-market and below-market lease intangibles and the increase to amortization expense of the in-place lease intangibles for properties owned at December 31, 2019, over the next five years and thereafter (in thousands): Increase to Net amortization rental revenues expense 2020 $ 660 $ 1,627 2021 510 1,400 2022 533 1,344 2023 635 1,189 2024 497 903 Thereafter 477 2,442 $ 3,312 $ 8,905

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Schedule of Changes in Real Estate	The changes in real estate for the years ended December 31, 2019 and 2018 are as follows (in thousands): 2019 2018 Balance at beginning of year $ 494,897 $ 522,186 Property disposition - (23,625 ) Property acquisitions - - Property demolished (1) - (9,171 ) Improvements, net 2,911 5,507 Balance at end of year $ 497,808 $ 494,897 (1) Due to the demolition of the property located at 35 Executive Boulevard, Orange, Connecticut.
Schedule of Changes in Accumulated Depreciation, Exclusive of Amounts Relating to Equipment, Transportation Equipment, and Furniture and Fixtures	The changes in accumulated depreciation, exclusive of amounts relating to equipment, transportation equipment, and furniture and fixtures, for the years ended December 31, 2019 and 2018 are as follows (in thousands): 2019 2018 Balance at beginning of year $ 55,401 $ 55,136 Property disposition - (8,462 ) Property demolished - (1,682 ) Depreciation for year 9,549 10,409 Balance at end of year $ 64,950 $ 55,401

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Summary of Company's Mortgage Notes Payable	The following table sets forth a summary of the Company’s mortgage notes payable (in thousands): Principal Principal Outstanding as of Outstanding as of Loan Interest Rate December 31, 2019 December 31, 2018 Maturity Hartford Accident & Indemnity Company 5.20 % 6,000 6,000 3/1/2020 People’s United Bank 5.23 % 2,089 2,171 10/1/2020 People’s United Bank 4.18 % 15,500 15,500 10/15/2024 American International Group 4.05 % 233,100 233,100 3/1/2025 Allstate Life Insurance Company 4.00 % 37,937 38,644 4/1/2025 United States Life Insurance Company 3.82 % 39,000 39,000 1/1/2028 United States Life Insurance Company 4.25 % 33,000 33,000 4/1/2028 Subtotal 366,626 367,415 Unamortized loan costs (5,294 ) (6,198 ) Total $ 361,332 $ 361,217
Schedule of Principal Repayments	Scheduled principal repayments during the next five years and thereafter are as follows (in thousands): 2020 $ 8,825 2021 852 2022 1,157 2023 1,573 2024 16,115 Thereafter 338,104 Total $ 366,626

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Schedule of Dividends Declared on Common Stock	The following table presents dividends declared by the Company on its common stock during 2019 and 2018: Record Payment Dividend Declaration Date Date Date Per Share March 22, 2018 March 31, 2018 April 13, 2018 0.10 March 22, 2018 March 31, 2018 April 16, 2018 0.08 (1) June 7, 2018 June 30, 2018 July 13, 2018 0.10 August 7, 2018 September 30, 2018 October 15, 2018 0.10 November 6, 2018 December 31, 2018 January 14, 2019 0.10 March 18, 2019 March 31, 2019 April 12, 2019 0.09 (2) March 18, 2019 March 31, 2019 April 15, 2019 0.10 June 5, 2019 June 30, 2019 July 12, 2019 0.10 August 6, 2019 September 30, 2019 October 11, 2019 0.10 November 5, 2019 December 31, 2019 January 10, 2020 0.10 (1) Represents a supplemental 2017 dividend. (2) Represents a supplemental 2018 dividend.
Schedule of Shares Issued Under the 2007 Plan and 2017 Plan	The following table presents shares issued by the Company under the 2007 Plan and the 2017 Plan: Shares Issued Under the 2007 Plan Grant Total Value Approximate Date Shares Issued Per Share Value of Shares Vesting Period April 30, 2012 55,149 $ 6.80 $ 375,000 3 Years (2) June 7, 2012 5,884 $ 6.80 $ 40,000 Immediately (1) March 21, 2013 46,876 $ 6.40 $ 300,000 3 Years (2) March 21, 2013 3,126 $ 6.40 $ 20,000 Immediately (1) June 6, 2013 9,378 $ 6.40 $ 60,000 Immediately (1) June 4, 2014 44,704 $ 6.80 $ 304,000 5 years (2) June 19, 2014 8,820 $ 6.80 $ 60,000 Immediately (1) March 26, 2015 43,010 $ 9.30 $ 400,000 5 years (2) June 19, 2015 16,436 $ 10.65 $ 175,000 Immediately (1) March 24, 2016 47,043 $ 10.40 $ 489,000 5 years (2) June 9, 2016 14,424 $ 10.40 $ 150,000 Immediately (1) May 22, 2017 34,482 $ 11.60 $ 400,000 9 years (2) May 31, 2017 7,929 $ 11.60 $ 92,000 Immediately (3) June 8, 2017 15,516 $ 11.60 $ 180,000 Immediately (1) Shares Issued Under the 2017 Plan Grant Total Value Approximate Date Shares Issued Per Share Value of Shares Vesting Period June 7, 2018 42,918 $ 11.65 $ 500,000 9 Years (2) June 7, 2018 15,020 $ 11.65 $ 175,000 Immediately (1) June 5, 2019 64,654 $ 11.60 $ 750,000 9 Years (2) June 5, 2019 15,085 $ 11.60 $ 175,000 Immediately (1) (1) Shares issued to non-management members of the Board of Directors. (2) Shares issued to certain executives of the Company. (3) Shares issued to current and former executives of the Company in connection with the exercise of previously issued options
Summary of Restricted Stock Activity	The following is a summary of restricted stock activity: Weighted Average Grant Date Fair Shares Value Non-vested shares outstanding as of December 31, 2018 48,135 $ 11.35 New shares issued through December 31, 2019 79,739 11.60 Vested (55,568 ) 11.45 Non-vested shares outstanding as of December 31, 2019 72,306 $ 11.57
Summary of Vesting Schedule of Non-vested Shares of Restricted Stock Outstanding	The following is a vesting schedule of the non-vested shares of restricted stock outstanding as of December 31, 2019: Number of Shares 2020 22,478 2021 15,368 2022 11,389 2023 8,571 2024 6,266 2025 4,258 Thereafter 3,976 Total Non-vested Shares 72,306

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings per Share Information	The following table sets forth the computation of basic and diluted earnings per share information for the years ended December 31, 2019 and 2018 (in thousands, except share and per share data): 2019 2018 Numerator: Net income attributable to common stockholders $ 4,480 $ 1,813 Denominator: Weighted average common shares outstanding – basic 13,545,242 13,578,515 Weighted average common shares outstanding – diluted 13,582,690 13,599,602 Basic and Diluted Per Share Information: Net income per share – basic and diluted $ 0.33 $ 0.13

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets and Liabilities	The following table summarizes the carrying values and the estimated fair values of the financial instruments (in thousands): December 31, 2019 December 31, 2018 Carrying Estimated Carrying Estimated Value Value Value Value Financial assets: Cash and cash equivalents $ 26,853 $ 26,853 $ 21,175 $ 21,175 Restricted cash 2,232 2,232 3,895 3,895 Accounts receivable 517 517 415 415 Financial liabilities: Accounts payable and accrued expenses $ 4,306 $ 4,306 $ 4,417 $ 4,417 Secured revolving credit facility 40,000 40,000 40,000 40,000 Mortgage notes payable 366,626 367,856 367,415 358,949 Pension withdrawal liability 996 1,051 1,065 1,054

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Reconciliation of GAAP Income (Loss) from Continuing Operations to Taxable Income (Loss)	The following table reconciles GAAP income from continuing operations to taxable income for the years ended December 31, 2019 and 2018 (in thousands): 2019 2018 Net income $ 6,679 $ 2,432 GAAP net (income) of taxable subsidiaries (337 ) (637 ) GAAP net income from REIT operations 6,342 1,795 Operating expense book deductions greater than tax 224 998 Book depreciation in excess of tax depreciation 953 3,757 GAAP amortization of intangibles in excess of tax amortization 1,395 1,721 Straightline rent adjustments 183 (874 ) Gain on sale of real estate - (4,577 ) Write down of carrying value relating to demolished property - 7,489 (Income) allocable to noncontrolling interest (3,154 ) (3,555 ) Estimated taxable income subject to the dividend requirement $ 5,943 $ 6,754

Future Minimum Rent Schedule (T

Future Minimum Rent Schedule (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Future Minimum Contractual Lease Payments to be Received by Company under Operating Leases	Future minimum contractual lease payments to be received by the Company (without taking into account straight-line rent or amortization of intangibles) as of December 31, 2019, under operating leases for the next five years and thereafter are as follows (in thousands): 2020 $ 45,611 2021 43,071 2022 38,467 2023 35,330 2024 29,154 Thereafter 84,050 Total $ 275,683

Selected Quarterly Data (Tables

Selected Quarterly Data (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Summary of Selected Quarterly Data	The summarized selected quarterly data for the years ended December 31, 2019 and 2018 are as follows (in thousands except per share data). Year March 31 June 30 September 30 December 31 2019 Revenues $ 14,160 $ 13,974 $ 14,351 $ 14,068 Net income attributable to common stockholders 1,101 815 1,310 1,254 Per common share (basic and diluted)(a) 0.08 0.06 0.10 0.09 2018 Revenues 14,398 14,296 14,042 14,165 Net income (loss) attributable to common stockholders 2,434 665 (2,325 ) 1,039 Per common share (basic and diluted)(a) $ 0.18 $ 0.05 $ (0.17 ) $ 0.08 (a) Differences between the sum of the four quarterly per share amounts and the annual per share amount are attributable to the effect of the weighted average outstanding share calculations for the respective periods.

Organization and Description _2

Organization and Description of Business - Additional Information (Detail) - Operating Partnership [Member] - Wu/Lighthouse Portfolio, LLC [Member] shares in Millions, ft² in Millions	Jan. 17, 2013Property	Dec. 31, 2019ft²aPropertyshares	Dec. 31, 2013
Organization And Description Of Business [Line Items]
Number of commercial properties acquired	25	17
Ownership interest in partnership units (as a percent)	33.29%	65.33%	33.78%
Number of real estate properties sold		1
Number of properties owned		48
Leasable area owned by the company | ft²		5.8
Area of land in New York, New Jersey, Connecticut, and Delaware | a		389
Number of shares of common stock that can be issued on conversion of interest in limited partnership | shares		1.9
Series B Preferred Stock, Non-Voting [Member]
Organization And Description Of Business [Line Items]
Number of shares of preferred stock that can be issued on conversion of interest in limited partnership | shares		5.3
Due to redemption of certain shares [Member]
Organization And Description Of Business [Line Items]
Ownership interest in partnership units (as a percent)		34.67%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)SegmentLease	Dec. 31, 2018USD ($)ft²Lease	Jan. 01, 2019USD ($)
Summary of Significant Accounting Policies [Line Items]
Offsetting increase to operating partnership's non-controlling interest	$ 300,000
Net impact to rental revenues due to the amortization of above market and below market leases	600,000	$ 600,000
Amortization to below market leases	4,120,000	4,994,000
Write-down of costs related to demolished property and construction of industrial building		7,489,000
Impairment related to remaining long-lived assets	$ 0
Number of reportable segments | Segment	1
Income Tax Holiday, Description	The Company is organized and conducts its operations to qualify as a REIT for Federal income tax purposes. Accordingly, the Company is generally not subject to Federal income taxation on the portion of its distributable income that qualifies as REIT taxable income, to the extent that it distributes at least 90% of its REIT taxable income to its stockholders and complies with certain other requirements as defined in the Code.
Unrecognized tax positions	$ 0	0
Standard maximum deposit insurance amount	250,000
Incremental borrowing rate			5.256%
Operating lease, right-of-use asset			$ 541,000
Operating lease, right-of-use liability			$ 541,000
Accounting Standards Update 2016-02 [Member]
Summary of Significant Accounting Policies [Line Items]
Aggregate future lease obligations	$ 289,000	$ 568,000
Customer Concentration Risk [Member] | Sales Revenue Net [Member]
Summary of Significant Accounting Policies [Line Items]
Number of operating leases | Lease	5	5
Annual rental lease rent	$ 9,500,000	$ 9,600,000
Percentage of rental income	17.00%	17.00%
Industrial Building [Member]
Summary of Significant Accounting Policies [Line Items]
Area of building to be constructed | ft²		41,000
Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Proportion Of Taxable Income Distributed to stockholders	90.00%	90.00%
Minimum [Member] | Accounting Standards Update 2016-02 [Member]
Summary of Significant Accounting Policies [Line Items]
Number of leases as lessor | Lease	60
Minimum [Member] | Properties and Property Improvements [Member]
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	5 years
Minimum [Member] | Furniture, Fixtures and Equipment [Member]
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	5 years
Maximum [Member] | Properties and Property Improvements [Member]
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	40 years
Maximum [Member] | Furniture, Fixtures and Equipment [Member]
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	10 years
Above Market Lease [Member]
Summary of Significant Accounting Policies [Line Items]
Acquired lease intangible assets, net	$ 800,000	$ 1,100,000
In-place Lease [Member]
Summary of Significant Accounting Policies [Line Items]
Acquired lease intangible assets, net	8,905,000	10,900,000
Buildings and Improvements [Member]
Summary of Significant Accounting Policies [Line Items]
Real estate under development	$ 5,600,000	$ 2,600,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Projected Impact of Above Market Below Market and In-Place Lease Intangibles (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Net increase to rental revenues:
2020	$ 660
2021	510
2022	533
2023	635
2024	497
Thereafter	477
Net increase to rental revenues	3,312
In-place Lease [Member]
Increase to amortization expense:
2020	1,627
2021	1,400
2022	1,344
2023	1,189
2024	903
Thereafter	2,442
Increase to amortization expense	$ 8,905	$ 10,900

Real Estate - Schedule of Chang

Real Estate - Schedule of Changes in Real Estate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Balance at beginning of year	$ 494,897	$ 522,186
Property disposition		(23,625)
Property demolished		(9,171)
Improvements, net	2,911	5,507
Balance at end of year	$ 497,808	$ 494,897

Real Estate - Schedule of Cha_2

Real Estate - Schedule of Changes in Accumulated Depreciation, Exclusive of Amounts Relating to Equipment, Transportation Equipment, and Furniture and Fixtures (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Balance at beginning of year	$ 55,401	$ 55,136
Property disposition		(8,462)
Property demolished		(1,682)
Depreciation for year	9,549	10,409
Balance at end of year	$ 64,950	$ 55,401

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) $ in Thousands	Jul. 16, 2018USD ($)	Feb. 28, 2018USD ($)ft²	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Real Estate [Line Items]
Net gain on sale of real estate				$ 2,299
Rental income in excess of amount billed			$ (284)	$ 922
Operating Partnership [Member] | Two CPS Developers LLC [Member] | Piscataway, NJ [Member]
Real Estate [Line Items]
Date of acquisition				Feb. 28, 2018
Business combination, consideration transferred		$ 5,250
Area of joint venture owned office building demolished | ft²		132,650
Area of joint venture owned clear industrial building replaced with | ft²		150,325
8 Farm Springs Road, Farmington, Connecticut [Member] | Operating Partnership [Member]
Real Estate [Line Items]
Sale of real estate	$ 20,400
Net gain on sale of real estate	2,300
Rental income in excess of amount billed	1,700
Unamortized deferred leasing charges	600
8 Farm Springs Road, Farmington, Connecticut [Member] | Operating Partnership [Member] | Real Estate [Member]
Real Estate [Line Items]
Net of closing cost on sale of real estate	600
8 Farm Springs Road, Farmington, Connecticut [Member] | Operating Partnership [Member] | Key Bank [Member]
Real Estate [Line Items]
Outstanding borrowings, reduced	$ 15,000

Mortgage Notes Payable - Summar

Mortgage Notes Payable - Summary of Company's Mortgage Notes Payable (Detail) - USD ($) $ in Thousands	Dec. 20, 2017	Dec. 31, 2019	Dec. 31, 2018	Mar. 21, 2018
Debt Instrument [Line Items]
Mortgage notes payable		$ 366,626	$ 367,415
Unamortized loan costs		(5,294)	(6,198)
Mortgage notes payable, net		361,332	361,217
Hartford Accident and Indemnity Company, Loan [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,000	6,000
Interest Rate		5.20%
Maturity		Mar. 1, 2020
5.23% People's United Bank, Loan [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 2,089	2,171
Interest Rate		5.23%
Maturity		Oct. 1, 2020
4.18% People's United Bank, Loan [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 15,500	15,500
Interest Rate		4.18%
Maturity		Oct. 15, 2024
American International Group, Loan [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 233,100	233,100
Interest Rate		4.05%
Maturity		Mar. 1, 2025
Allstate Life Insurance Company, Loan [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 37,937	38,644
Interest Rate		4.00%
Maturity		Apr. 1, 2025
3.82 % United States Life Insurance Company, Loan [Member]
Debt Instrument [Line Items]
Mortgage notes payable	$ 39,000	$ 39,000	39,000
Interest Rate	3.82%	3.82%
Maturity	Jan. 1, 2028	Jan. 1, 2028
4.25 % United States Life Insurance Company, Loan [member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 33,000	$ 33,000	$ 33,000
Interest Rate		4.25%
Maturity		Apr. 1, 2028

Mortgage Notes Payable - Additi

Mortgage Notes Payable - Additional Information (Detail)

Feb. 25, 2020USD ($)

Mar. 21, 2018USD ($)Item

Dec. 20, 2017USD ($)PropertyItem

Mar. 13, 2015

Feb. 20, 2015USD ($)Property

Sep. 30, 2010USD ($)

Feb. 28, 2017USD ($)

Apr. 30, 2014USD ($)

Dec. 31, 2019USD ($)Property

Dec. 31, 2014USD ($)ft²

Dec. 31, 2018USD ($)

Dec. 31, 2017

Debt Instrument [Line Items]

Mortgage notes payable

$ 366,626,000

$ 367,415,000

Number of wholly-owned subsidiaries of the UPREIT | Item

4

4

Allstate Life Insurance Company, Loan [Member]

Debt Instrument [Line Items]

Mortgage notes payable

$ 37,937,000

38,644,000

Interest Rate

4.00%

Maturity

Apr. 1, 2025

3.82 % United States Life Insurance Company, Loan [Member]

Debt Instrument [Line Items]

Mortgage notes payable

$ 39,000,000

$ 39,000,000

39,000,000

Permanent financing period

10 years

Debt instrument, payment terms

During the period from February 1, 2018 to December 1, 2027, payments of interest only on the principal balance of the Note (as defined below) will be payable in arrears, with the entire principal balance due and payable on January 1, 2028, the loan maturity date.

Number of collateralized properties | Property

4

Interest Rate

3.82%

3.82%

Maturity

Jan. 1, 2028

Jan. 1, 2028

Application fee to lender

$ 50,000

Event of default, description

In the event of default, the initial rate of interest on the Note will increase to the greatest of (i) 18% per annum, (ii) a per annum rate equal to 4% over the prime established rate, or (iii) a per annum rate equal to 5% over the original interest rate, all subject to the applicable state or federal laws.

3.82 % United States Life Insurance Company, Loan [Member] | Key Bank [Member] | Secured Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Repayments of outstanding indebtedness

$ 37,500,000

3.82 % United States Life Insurance Company, Loan [Member] | Minimum [Member]

Debt Instrument [Line Items]

Loan Prepayment Premium Percentage,upon providing advance notice of prepayment

1.00%

3.82 % United States Life Insurance Company, Loan [Member] | Minimum [Member] | Event of Default [Member]

Debt Instrument [Line Items]

Increase in debt instrument interest rate upon default

18.00%

3.82 % United States Life Insurance Company, Loan [Member] | Prime Rate [Member] | Event of Default [Member]

Debt Instrument [Line Items]

Debt instrument Interest rate upon default

4.00%

3.82 % United States Life Insurance Company, Loan [Member] | Original Interest Rate [Member] | Event of Default [Member]

Debt Instrument [Line Items]

Debt instrument interest rate over original interest rate upon default

5.00%

4.25 % United States Life Insurance Company, Loan [member]

Debt Instrument [Line Items]

Mortgage notes payable

$ 33,000,000

$ 33,000,000

$ 33,000,000

Permanent financing interest rate

4.25%

Permanent financing period

10 years

Debt instrument, payment terms

the principal balance for the first five (5) years of the term and principal and interest payments (amortized over a 30-year period) during the second five (5) years of the term. The entire principal balance is due and payable on April 1, 2028, the loan maturity date.

Interest Rate

4.25%

Maturity

Apr. 1, 2028

Piscataway, NJ [Member]

Debt Instrument [Line Items]

Number of properties acquired | Property

6

Piscataway, NJ [Member] | Allstate Life Insurance Company, Loan [Member]

Debt Instrument [Line Items]

Mortgage notes payable

$ 39,100,000

Permanent financing period

10 years

Payment term based on amortization schedule

30 years

Interest Rate

4.00%

Maturity

Apr. 1, 2025

AIG Loan [Member]

Debt Instrument [Line Items]

Mortgage notes payable

$ 233,100,000

Permanent financing interest rate

4.05%

Permanent financing period

10 years

Debt instrument, payment terms

During the period from April 1, 2015, to February 1, 2025, payments of interest only will be payable in arrears with the entire principal balance plus any accrued and unpaid interest due and payable on March 1, 2025.

Number of collateralized properties | Property

28

People's United Bank Loan Agreement [Member]

Debt Instrument [Line Items]

Leasable area owned by the company | ft²

84,000

Mortgage notes payable

$ 15,500,000

Permanent financing interest rate

4.18%

Permanent financing period

10 years

Payment term based on amortization schedule

25 years

Debt instrument, payment terms

Payments for the first seven years are interest only. Payments over the remaining three years of the term are based on a 25-year amortization schedule, with a balloon payment of $14.4 million due at maturity

Debt Instrument, balloon payment due upon maturity

$ 14,400,000

Hartford Accident & Indemnity Loan [Member]

Debt Instrument [Line Items]

Repayments of outstanding indebtedness

$ 3,000,000

Business acquisition, assumed mortgage

$ 9,000,000

Mortgage, bears interest rate

5.20%

6.07%

Mortgage, maturity date

Feb. 25, 2020

Hartford Accident & Indemnity Loan [Member] | Subsequent Event [Member]

Debt Instrument [Line Items]

Repayments of outstanding indebtedness

$ 6,000,000

People's United Bank Loan [Member]

Debt Instrument [Line Items]

Interest Rate

5.23%

Maturity

Oct. 1, 2020

New borrowings

$ 2,700,000

Mortgage Notes Payable - Schedu

Mortgage Notes Payable - Schedule of Principal Repayments (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 8,825
2021	852
2022	1,157
2023	1,573
2024	16,115
Thereafter	338,104
Total	$ 366,626	$ 367,415

Secured Revolving Credit Faci_2

Secured Revolving Credit Facility - Additional Information (Detail) - USD ($)	Sep. 11, 2019	Jul. 31, 2018	Feb. 27, 2018	Jul. 27, 2017	Dec. 02, 2015	Dec. 31, 2019	Dec. 31, 2018	Dec. 20, 2017
Line Of Credit Facility [Line Items]
Credit facility, outstanding						$ 40,000,000	$ 40,000,000
Key Bank [Member] | Operating Partnership [Member]
Line Of Credit Facility [Line Items]
Line of Credit facility, maximum borrowing capacity		$ 50,000,000	$ 55,000,000	$ 88,000,000	$ 50,000,000			$ 50,500,000
Line of Credit facility term					2 years
Line of Credit facility extended maturity period					1 year
Line Of Credit facility description						Line of credit facility, with an initial term of two years, with a one-year extension option, subject to certain other customary conditions.
Minimum principal amount						$ 25,000,000
Increase in line of credit facility available for property acquisition				$ 38,000,000
Line of credit facility, maturity date	Jun. 30, 2022	Jun. 30, 2020	Jun. 30, 2019	Feb. 28, 2018
Line of credit facility, additional extension option maturity date						Jun. 30, 2019
Key Bank [Member] | Operating Partnership [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Applicable margin range on credit facility	1.40%	150.00%			2.00%
Key Bank [Member] | Operating Partnership [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Applicable margin range on credit facility	1.90%	200.00%			2.50%
Swing loan						$ 5,000,000
Key Bank [Member] | Operating Partnership [Member] | Federal Reserve Bank Of Cleveland [Member]
Line Of Credit Facility [Line Items]
Applicable margin range on credit facility	0.50%	0.50%			0.50%
Key Bank [Member] | Operating Partnership [Member] | LIBOR [Member]
Line Of Credit Facility [Line Items]
Applicable margin range on credit facility	1.00%	1.00%			1.00%
Reduction of applicable margin on credit facility	0.10%
Credit facility, outstanding						$ 40,000,000	$ 40,000,000
Key Bank [Member] | Operating Partnership [Member] | LIBOR [Member] | Secured Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Reduction of applicable margin on credit facility		0.50%
Key Bank [Member] | Operating Partnership [Member] | LIBOR [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Applicable margin range on credit facility	2.40%	2.50%			3.00%
Key Bank [Member] | Operating Partnership [Member] | LIBOR [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Applicable margin range on credit facility	2.90%	3.00%			3.50%
Key Bank [Member] | Operating Partnership [Member] | If less than 50% of facility used [Member]
Line Of Credit Facility [Line Items]
Line of Credit facility, commitment fee percentage						0.30%
Key Bank [Member] | Operating Partnership [Member] | If more than 50% of facility used [Member]
Line Of Credit Facility [Line Items]
Line of Credit facility, commitment fee percentage						0.20%
Key Bank [Member] | Operating Partnership [Member] | Base Rate [Member]
Line Of Credit Facility [Line Items]
Reduction of applicable margin on credit facility	0.10%
Key Bank [Member] | Operating Partnership [Member] | Base Rate [Member] | Secured Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Reduction of applicable margin on credit facility		0.50%

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Nov. 08, 2016	Jun. 09, 2011	Feb. 07, 2008	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Mar. 13, 2020
Stockholders' Equity Note [Line Items]
Shares of preferred stock authorized				10,000,000	10,000,000
Par value per share (in dollars per share)				$ 0.0001	$ 0.0001
Shares of common stock authorized for issuance				100,000,000	100,000,000
Common stock, par value (in dollars per share)				$ 0.0001	$ 0.0001
Shares of common stock issued				13,537,856	13,569,664
Shares of common stock outstanding				13,537,856	13,569,664
Percentage of taxable income which should be distributed to be qualified as REIT				90.00%
Options expiration period				10 years
Stock options exercised						200,000
Stock compensation expense				$ 728,000	$ 672,000
Unamortized stock compensation				$ 836,000
Outstanding at the end of the period (in shares)				580,464
Vested (in shares)				508,158
Stock Options [Member]
Stockholders' Equity Note [Line Items]
Stock options outstanding				210,000
Stock options exercisable				210,000
Subsequent Event [Member]
Stockholders' Equity Note [Line Items]
Common stock value per share							$ 12.70
Restricted Stock [Member]
Stockholders' Equity Note [Line Items]
Weighted average period for recognition				2 years 6 months
Vested (in shares)				55,568
Non-employee Directors and Key Officers [Member]
Stockholders' Equity Note [Line Items]
Stock compensation expense				$ 94,000	$ 110,000
Non-employee Directors [Member]
Stockholders' Equity Note [Line Items]
Stock options granted		10,000	55,000
Stock options expired					55,000
Key Officers [Member]
Stockholders' Equity Note [Line Items]
Stock options granted			200,000
Vesting period			3 years
Key Officers [Member] | Non-qualified Stock Options [Member]
Stockholders' Equity Note [Line Items]
Stock options granted	200,000
Vesting period	3 years
Stock options granted exercise price	$ 10.40
2007 Incentive Award Plan [Member]
Stockholders' Equity Note [Line Items]
Number of shares of common stock which may be awarded				1,000,000
Share-based compensation award plan , expiration date				Jun. 11, 2017
2017 Incentive Award Plan [Member]
Stockholders' Equity Note [Line Items]
Number of shares of common stock which may be awarded				2,000,000
Plan effective date				Apr. 24, 2017
Number of shares available for future issuance				1,862,323
Federal Income Taxes [Member]
Stockholders' Equity Note [Line Items]
Percentage of taxable income which should be distributed in order not to be subject to corporate federal income taxes on retained income				100.00%
Series A Preferred Stock [Member]
Stockholders' Equity Note [Line Items]
Shares of preferred stock authorized				500,000	500,000
Par value per share (in dollars per share)				$ 0.0001	$ 0.0001
Preferred stock, shares outstanding				0	0
Series B Preferred Stock, Non-Voting [Member]
Stockholders' Equity Note [Line Items]
Shares of preferred stock authorized				6,500,000	6,500,000
Par value per share (in dollars per share)				$ 0.0001	$ 0.0001
Preferred stock, voting rights				There are no voting rights associated with the Series B preferred stock.
Preferred stock, shares outstanding				0	0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Dividends Declared on Common Stock (Detail) - $ / shares	Nov. 05, 2019	Aug. 06, 2019	Jun. 05, 2019	Mar. 18, 2019	Nov. 06, 2018	Aug. 07, 2018	Jun. 07, 2018	Mar. 22, 2018
3 Months Ended 3/31/18 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date								Mar. 22, 2018
Record Date								Mar. 31, 2018
Payment Date								Apr. 13, 2018
Dividend Per Share								$ 0.10
12 Months Ended 12/31/17 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date								Mar. 22, 2018
Record Date								Mar. 31, 2018
Payment Date								Apr. 16, 2018
Dividend Per Share								$ 0.08
3 Months Ended 06/30/18 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date							Jun. 7, 2018
Record Date							Jun. 30, 2018
Payment Date							Jul. 13, 2018
Dividend Per Share							$ 0.10
3 Months Ended 09/30/18 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date						Aug. 7, 2018
Record Date						Sep. 30, 2018
Payment Date						Oct. 15, 2018
Dividend Per Share						$ 0.10
3 Months Ended 12/31/18 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date					Nov. 6, 2018
Record Date					Dec. 31, 2018
Payment Date					Jan. 14, 2019
Dividend Per Share					$ 0.10
12 Months Ended 12/31/18 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date				Mar. 18, 2019
Record Date				Mar. 31, 2019
Payment Date				Apr. 12, 2019
Dividend Per Share				$ 0.09
3 Months Ended 3/31/19 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date				Mar. 18, 2019
Record Date				Mar. 31, 2019
Payment Date				Apr. 15, 2019
Dividend Per Share				$ 0.10
3 Months Ended 6/30/19 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date			Jun. 5, 2019
Record Date			Jun. 30, 2019
Payment Date			Jul. 12, 2019
Dividend Per Share			$ 0.10
3 Months Ended 9/30/19 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date		Aug. 6, 2019
Record Date		Sep. 30, 2019
Payment Date		Oct. 11, 2019
Dividend Per Share		$ 0.10
3 Months Ended 12/31/19 [Member]
Stockholders' Equity Note [Line Items]
Declaration Date	Nov. 5, 2019
Record Date	Dec. 31, 2019
Payment Date	Jan. 10, 2020
Dividend Per Share	$ 0.10

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Shares Issued under 2007 and 2017 Plan (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
2007 Plan | Award Granted on April 30, 2012 [Member] | Certain Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Apr. 30, 2012
Total Shares Issued | shares	55,149
Value Per Share | $ / shares	$ 6.80
Approximate Value of Shares | $	$ 375,000
Vesting period	3 years
2007 Plan | Award Granted on June 7, 2012 [Member] | Non-management Members of Board of Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 7, 2012
Total Shares Issued | shares	5,884
Value Per Share | $ / shares	$ 6.80
Approximate Value of Shares | $	$ 40,000
Vesting Period	Immediately
2007 Plan | Award Granted on March 21, 2013 [Member] | Certain Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Mar. 21, 2013
Total Shares Issued | shares	46,876
Value Per Share | $ / shares	$ 6.40
Approximate Value of Shares | $	$ 300,000
Vesting period	3 years
2007 Plan | Award Granted on March 21, 2013 [Member] | Non-management Members of Board of Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Mar. 21, 2013
Total Shares Issued | shares	3,126
Value Per Share | $ / shares	$ 6.40
Approximate Value of Shares | $	$ 20,000
Vesting Period	Immediately
2007 Plan | Award Granted on June 6, 2013 [Member] | Non-management Members of Board of Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 6, 2013
Total Shares Issued | shares	9,378
Value Per Share | $ / shares	$ 6.40
Approximate Value of Shares | $	$ 60,000
Vesting Period	Immediately
2007 Plan | Award Granted on June 4, 2014 [Member] | Certain Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 4, 2014
Total Shares Issued | shares	44,704
Value Per Share | $ / shares	$ 6.80
Approximate Value of Shares | $	$ 304,000
Vesting period	5 years
2007 Plan | Award Granted on June 19, 2014 [Member] | Non-management Members of Board of Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 19, 2014
Total Shares Issued | shares	8,820
Value Per Share | $ / shares	$ 6.80
Approximate Value of Shares | $	$ 60,000
Vesting Period	Immediately
2007 Plan | Award Granted on March 26, 2015 [Member] | Certain Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Mar. 26, 2015
Total Shares Issued | shares	43,010
Value Per Share | $ / shares	$ 9.30
Approximate Value of Shares | $	$ 400,000
Vesting period	5 years
2007 Plan | Award Granted on June 19, 2015 [Member] | Non-management Members of Board of Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 19, 2015
Total Shares Issued | shares	16,436
Value Per Share | $ / shares	$ 10.65
Approximate Value of Shares | $	$ 175,000
Vesting Period	Immediately
2007 Plan | Award Granted on March 24, 2016 [Member] | Certain Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Mar. 24, 2016
Total Shares Issued | shares	47,043
Value Per Share | $ / shares	$ 10.40
Approximate Value of Shares | $	$ 489,000
Vesting period	5 years
2007 Plan | Award Granted on June 9, 2016 [Member] | Non-management Members of Board of Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 9, 2016
Total Shares Issued | shares	14,424
Value Per Share | $ / shares	$ 10.40
Approximate Value of Shares | $	$ 150,000
Vesting Period	Immediately
2007 Plan | Award Granted on May 22, 2017 [Member] | Certain Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	May 22, 2017
Total Shares Issued | shares	34,482
Value Per Share | $ / shares	$ 11.60
Approximate Value of Shares | $	$ 400,000
Vesting period	9 years
2007 Plan | Award Granted on May 31, 2017 [Member] | Current and Former Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	May 31, 2017
Total Shares Issued | shares	7,929
Value Per Share | $ / shares	$ 11.60
Approximate Value of Shares | $	$ 92,000
Vesting Period	Immediately
2007 Plan | Award Granted on June 8, 2017 [Member] | Non-management Members of Board of Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 8, 2017
Total Shares Issued | shares	15,516
Value Per Share | $ / shares	$ 11.60
Approximate Value of Shares | $	$ 180,000
Vesting Period	Immediately
2017 Plan | Award Granted on June 7, 2018 [Member] | Certain Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 7, 2018
Total Shares Issued | shares	42,918
Value Per Share | $ / shares	$ 11.65
Approximate Value of Shares | $	$ 500,000
Vesting period	9 years
2017 Plan | Award Granted on June 7, 2018 [Member] | Non-management Members of Board of Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 7, 2018
Total Shares Issued | shares	15,020
Value Per Share | $ / shares	$ 11.65
Approximate Value of Shares | $	$ 175,000
Vesting Period	Immediately
2017 Plan | Award Granted on June 5, 2019 [Member] | Certain Executives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 5, 2019
Total Shares Issued | shares	64,654
Value Per Share | $ / shares	$ 11.60
Approximate Value of Shares | $	$ 750,000
Vesting period	9 years
2017 Plan | Award Granted on June 5, 2019 [Member] | Non-management Members of Board of Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Issued, Grant Date	Jun. 5, 2019
Total Shares Issued | shares	15,085
Value Per Share | $ / shares	$ 11.60
Approximate Value of Shares | $	$ 175,000
Vesting Period	Immediately

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Restricted Stock Activity (Detail)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested, Shares	(508,158)
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested at beginning of period, Shares	48,135
New shares issued through December 31, 2019	79,739
Vested, Shares	(55,568)
Non-vested at end of period, Shares	72,306
Non-vested at beginning of period, Weighted Average Grant Date Fair Value | $ / shares	$ 11.35
New shares issued through December 31, 2019, Weighted Average Grant Date Fair Value | $ / shares	11.60
Vested, Weighted Average Grant Date Fair Value | $ / shares	11.45
Non-vested at end of period, Weighted Average Grant Date Fair Value | $ / shares	$ 11.57

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Vesting Schedule of Non-vested Shares of Restricted Stock Outstanding (Detail) - Restricted Stock [Member] - shares	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
2020	22,478
2021	15,368
2022	11,389
2023	8,571
2024	6,266
2025	4,258
Thereafter	3,976
Total Non-vested Shares	72,306	48,135

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Number of common share equivalents	37,448	21,087

Earnings per Share - Schedule o

Earnings per Share - Schedule of Computation of Basic and Diluted Earnings per Share Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net income attributable to common stockholders	$ 1,254	$ 1,310	$ 815	$ 1,101	$ 1,039	$ (2,325)	$ 665	$ 2,434	$ 4,480	$ 1,813
Denominator:
Weighted average common shares outstanding – basic									13,545,242	13,578,515
Weighted average common shares outstanding – diluted									13,582,690	13,599,602
Basic and Diluted Per Share Information:
Net income per share – basic and diluted	$ 0.09	$ 0.10	$ 0.06	$ 0.08	$ 0.08	$ (0.17)	$ 0.05	$ 0.18	$ 0.33	$ 0.13

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Feb. 09, 2018	Nov. 04, 2014	Nov. 30, 2018	Mar. 31, 2018	Dec. 31, 2016	Nov. 30, 2015	Jan. 31, 2014	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2013
Related Party Transactions [Line Items]
Gain from unconsolidated affiliate								$ 166,000	$ 2,463,000
Rochlin Organization ("TRO") [Member]
Related Party Transactions [Line Items]
Brokerage cash commissions			$ 40,000	$ 107,000	$ 10,000	$ 12,000	$ 95,000			$ 60,000
Lease value, total			$ 670,000	$ 3,600,000	$ 332,000	$ 200,000	$ 2,100,000			$ 1,015,000
Lighthouse Sixty, LP [Member]
Related Party Transactions [Line Items]
Current annual base rent under lease agreement								289,000
Aggregate lease payments								$ 1,800,000
Lease expiration year								2020
Garden 1101 [Member]
Related Party Transactions [Line Items]
Investment in limited partnership		$ 1,800,000
Initial distribution received from partnership, sale of the partnership assets	$ 3,700,000
Gain from unconsolidated affiliate	$ 2,500,000
Gain from equity investment in limited partnership								$ 108,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)Bus_Depot	Dec. 31, 2018USD ($)	Feb. 16, 2012USD ($)
Commitments and Contingencies [Line Items]
Number of bus depot sites received final regulatory closure | Bus_Depot	3
Number of former bus depot sites | Bus_Depot	6
Number of bus depot sites continuing monitoring and reporting activities associated with environmental cleanup efforts | Bus_Depot	3
Environmental matters liability on-going activities | $	$ 0
Divestiture [Member] | Shelter Electric [Member]
Commitments and Contingencies [Line Items]
Pension withdrawal liability | $	1,000,000	$ 1,100,000	$ 1,500,000
Monthly installment payment for pension withdrawal liability | $	$ 8,100
Term of payment	20 years

Fair Value - Schedule of Fair V

Fair Value - Schedule of Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial assets:
Cash and cash equivalents	$ 26,853	$ 21,175
Restricted cash	2,232	3,895	$ 3,471
Accounts receivable	517	415
Financial liabilities:
Accounts payable and accrued expenses	4,306	4,417
Secured revolving credit facility	40,000	40,000
Mortgage notes payable	366,626	367,415
Pension withdrawal liability	996	1,065
Estimate of Fair Value Measurement [Member]
Financial assets:
Cash and cash equivalents	26,853	21,175
Restricted cash	2,232	3,895
Accounts receivable	517	415
Financial liabilities:
Accounts payable and accrued expenses	4,306	4,417
Secured revolving credit facility	40,000	40,000
Pension withdrawal liability	1,051	1,054
Mortgages [Member]
Financial liabilities:
Mortgage notes payable	366,626	367,415
Mortgages [Member] | Estimate of Fair Value Measurement [Member]
Financial liabilities:
Mortgage notes payable	$ 367,856	$ 358,949

Other Retirement Benefits - Add

Other Retirement Benefits - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Contributions to the plan and charged to benefit costs	$ 68,000	$ 67,000
Defined Contribution 401(k) Plan for Non-Union Employees [Member]
Defined Contribution Plan Disclosure [Line Items]
Minimum period of service of employees to be eligible to participate in plan	1 year
Minimum age of employees to be eligible to participate in plan	21 years
Profit Sharing Contribution Component 401(k) Plan [Member]
Defined Contribution Plan Disclosure [Line Items]
Contributions to the plan and charged to benefit costs	$ 7,000	$ 78,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Taxable years not able to qualify as REIT if company fails in any taxable year	4 years
Provisions for (benefit from) income taxes	$ 0	$ 0
Net operating loss carry-forwards	$ 20,000,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of GAAP Income (Loss) from Continuing Operations to Taxable Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Net income	$ 6,679	$ 2,432
GAAP net (income) of taxable subsidiaries	(337)	(637)
GAAP net income from REIT operations	6,342	1,795
Operating expense book deductions greater than tax	224	998
Book depreciation in excess of tax depreciation	953	3,757
GAAP amortization of intangibles in excess of tax amortization	1,395	1,721
Straightline rent adjustments	183	(874)
Gain on sale of real estate		(4,577)
Write down of carrying value relating to demolished property		7,489
(Income) allocable to noncontrolling interest	(3,154)	(3,555)
Estimated taxable income subject to the dividend requirement	$ 5,943	$ 6,754

Future Minimum Rent Schedule -

Future Minimum Rent Schedule - Schedule of Future Minimum Contractual Lease Payments to be Received by Company under Operating Leases (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Lessor Operating Lease Payments Fiscal Year Maturity [Abstract]
2020	$ 45,611
2021	43,071
2022	38,467
2023	35,330
2024	29,154
Thereafter	84,050
Total	$ 275,683

Selected Quarterly Data - Summa

Selected Quarterly Data - Summary of Selected Quarterly Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Selected Quarterly Financial Information [Abstract]
Revenues	$ 14,068	$ 14,351	$ 13,974	$ 14,160	$ 14,165	$ 14,042	$ 14,296	$ 14,398	$ 56,553	$ 56,901
Net income (loss) attributable to common stockholders	$ 1,254	$ 1,310	$ 815	$ 1,101	$ 1,039	$ (2,325)	$ 665	$ 2,434	$ 4,480	$ 1,813
Per common share (basic and diluted)	$ 0.09	$ 0.10	$ 0.06	$ 0.08	$ 0.08	$ (0.17)	$ 0.05	$ 0.18	$ 0.33	$ 0.13

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Feb. 13, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Subsequent Event [Member] | Self-Tender Offer [Member]
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)	$ 0.0001
Aggregate of common stock	$ 4,999,989.25
Share price	$ 11.75
Offer expiration date	Mar. 31, 2020
Subsequent Event [Member] | Share Redemption Program [Member]
Subsequent Event [Line Items]
Number of shares tendered	0
Maximum [Member] | Subsequent Event [Member] | Self-Tender Offer [Member]
Subsequent Event [Line Items]
Number of common stock offered	425,531

Schedule III - Consolidated Rea

Schedule III - Consolidated Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 196,118
Initial Cost to Company, Buildings & Improvements		271,955
Cost Capitalized Subsequent to Acquisition, Improvements		28,239
Gross Carrying Value of Land, Buildings & Improvements, Total		497,808	$ 494,897	$ 522,186
Gross Carrying Value, Land		197,745
Gross Carrying Value, Buildings & Improvements		300,063
Accumulated Depreciation		64,950	$ 55,401	$ 55,136
New York [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		144,202
Initial Cost to Company, Buildings & Improvements		98,038
Cost Capitalized Subsequent to Acquisition, Improvements		12,768
Gross Carrying Value of Land, Buildings & Improvements, Total		255,008
Gross Carrying Value, Land		144,333
Gross Carrying Value, Buildings & Improvements		110,675
Accumulated Depreciation		30,605
New York [Member] | 103 Fairview Park Drive, Elmsford, NY [Member] | United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		3,416
Initial Cost to Company, Buildings & Improvements		9,972
Cost Capitalized Subsequent to Acquisition, Improvements		375
Gross Carrying Value of Land, Buildings & Improvements, Total		13,763
Gross Carrying Value, Land		3,416
Gross Carrying Value, Buildings & Improvements		10,347
Accumulated Depreciation		$ 2,070
Date of Construction		1988
Date Acquired		Jan. 17, 2013
New York [Member] | 412 Fairview Park Drive, Elmsford, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 3,237
Initial Cost to Company, Buildings & Improvements		572
Gross Carrying Value of Land, Buildings & Improvements, Total		3,809
Gross Carrying Value, Land		3,237
Gross Carrying Value, Buildings & Improvements		572
Accumulated Depreciation		$ 100
Date Acquired		Jan. 17, 2013
New York [Member] | 401 Fieldcrest Drive, Elmsford, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 3,008
Initial Cost to Company, Buildings & Improvements		7,097
Gross Carrying Value of Land, Buildings & Improvements, Total		10,105
Gross Carrying Value, Land		3,008
Gross Carrying Value, Buildings & Improvements		7,097
Accumulated Depreciation		$ 1,279
Date Acquired		Jan. 17, 2013
New York [Member] | 404 Fieldcrest Drive, Elmsford, NY [Member] | United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 2,275
Initial Cost to Company, Buildings & Improvements		7,822
Cost Capitalized Subsequent to Acquisition, Improvements		306
Gross Carrying Value of Land, Buildings & Improvements, Total		10,403
Gross Carrying Value, Land		2,275
Gross Carrying Value, Buildings & Improvements		8,128
Accumulated Depreciation		$ 1,534
Date of Construction		1996
Date Acquired		Jan. 17, 2013
New York [Member] | 36 Midland Ave, Port Chester, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 2,428
Initial Cost to Company, Buildings & Improvements		6,409
Cost Capitalized Subsequent to Acquisition, Improvements		391
Gross Carrying Value of Land, Buildings & Improvements, Total		9,228
Gross Carrying Value, Land		2,428
Gross Carrying Value, Buildings & Improvements		6,800
Accumulated Depreciation		$ 1,331
Date of Construction		1979
Date Acquired		Jan. 17, 2013
New York [Member] | 100-110 Midland Ave, Port Chester, NY | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 5,390
Initial Cost to Company, Buildings & Improvements		16,463
Cost Capitalized Subsequent to Acquisition, Improvements		320
Gross Carrying Value of Land, Buildings & Improvements, Total		22,173
Gross Carrying Value, Land		5,390
Gross Carrying Value, Buildings & Improvements		16,783
Accumulated Depreciation		$ 3,069
Date of Construction		1979
Date Acquired		Jan. 17, 2013
New York [Member] | 199 Ridgewood Drive, Elmsford, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 827
Initial Cost to Company, Buildings & Improvements		1,916
Gross Carrying Value of Land, Buildings & Improvements, Total		2,743
Gross Carrying Value, Land		827
Gross Carrying Value, Buildings & Improvements		1,916
Accumulated Depreciation		$ 381
Date of Construction		1992
Date Acquired		Jan. 17, 2013
New York [Member] | 203 Ridgewood Drive, Elmsford, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 948
Initial Cost to Company, Buildings & Improvements		2,265
Gross Carrying Value of Land, Buildings & Improvements, Total		3,213
Gross Carrying Value, Land		948
Gross Carrying Value, Buildings & Improvements		2,265
Accumulated Depreciation		$ 443
Date of Construction		1986
Date Acquired		Jan. 17, 2013
New York [Member] | 8 Slater Street, Port Chester, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,997
Initial Cost to Company, Buildings & Improvements		4,640
Cost Capitalized Subsequent to Acquisition, Improvements		413
Gross Carrying Value of Land, Buildings & Improvements, Total		7,050
Gross Carrying Value, Land		1,997
Gross Carrying Value, Buildings & Improvements		5,053
Accumulated Depreciation		$ 1,078
Date of Construction		1984
Date Acquired		Jan. 17, 2013
New York [Member] | 612 Wortman Ave, Brooklyn, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 8,907
Initial Cost to Company, Buildings & Improvements		117
Cost Capitalized Subsequent to Acquisition, Improvements		4,284
Gross Carrying Value of Land, Buildings & Improvements, Total		13,308
Gross Carrying Value, Land		8,907
Gross Carrying Value, Buildings & Improvements		4,401
Accumulated Depreciation		$ 3,668
Date of Construction		1965
Date Acquired		Mar. 26, 2007
New York [Member] | 165-25 147th Ave, Jamaica, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 360
Initial Cost to Company, Buildings & Improvements		3,821
Cost Capitalized Subsequent to Acquisition, Improvements		856
Gross Carrying Value of Land, Buildings & Improvements, Total		5,037
Gross Carrying Value, Land		360
Gross Carrying Value, Buildings & Improvements		4,677
Accumulated Depreciation		$ 4,677
Date of Construction		1952
Date Acquired		Mar. 26, 2007
New York [Member] | 114-15 Guy Brewer Blvd, Jamaica, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 23,100
Initial Cost to Company, Buildings & Improvements		6
Cost Capitalized Subsequent to Acquisition, Improvements		2,067
Gross Carrying Value of Land, Buildings & Improvements, Total		25,173
Gross Carrying Value, Land		23,100
Gross Carrying Value, Buildings & Improvements		2,073
Accumulated Depreciation		$ 2,073
Date of Construction		1965
Date Acquired		Mar. 26, 2007
New York [Member] | 49-19 Rockaway Beach Blvd, Far Rockaway, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 74
Initial Cost to Company, Buildings & Improvements		783
Cost Capitalized Subsequent to Acquisition, Improvements		31
Gross Carrying Value of Land, Buildings & Improvements, Total		888
Gross Carrying Value, Land		74
Gross Carrying Value, Buildings & Improvements		814
Accumulated Depreciation		$ 814
Date of Construction		1931
Date Acquired		Mar. 26, 2007
New York [Member] | 85-01 24th Ave, East Elmhurst, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 38,210
Initial Cost to Company, Buildings & Improvements		937
Cost Capitalized Subsequent to Acquisition, Improvements		2,343
Gross Carrying Value of Land, Buildings & Improvements, Total		41,490
Gross Carrying Value, Land		38,210
Gross Carrying Value, Buildings & Improvements		3,280
Accumulated Depreciation		$ 3,146
Date of Construction		1954
Date Acquired		Mar. 26, 2007
New York [Member] | 23-85 87th Street, East Elmhurst, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 14,506
Initial Cost to Company, Buildings & Improvements		323
Cost Capitalized Subsequent to Acquisition, Improvements		1,168
Gross Carrying Value of Land, Buildings & Improvements, Total		15,997
Gross Carrying Value, Land		14,637
Gross Carrying Value, Buildings & Improvements		1,360
Accumulated Depreciation		$ 1,123
Date of Construction		1966
Date Acquired		Mar. 26, 2007
New York [Member] | 28-20 Borden Ave, Long Island City, NY [Member] | People's United Bank [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 26,678
Initial Cost to Company, Buildings & Improvements		98
Cost Capitalized Subsequent to Acquisition, Improvements		214
Gross Carrying Value of Land, Buildings & Improvements, Total		26,990
Gross Carrying Value, Land		26,678
Gross Carrying Value, Buildings & Improvements		312
Accumulated Depreciation		$ 111
Date of Construction		1992
Date Acquired		Jul. 2, 2014
New York [Member] | 606 Cozine Ave, Brooklyn, NY [Member] | United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 3,304
Initial Cost to Company, Buildings & Improvements		6,469
Gross Carrying Value of Land, Buildings & Improvements, Total		9,773
Gross Carrying Value, Land		3,304
Gross Carrying Value, Buildings & Improvements		6,469
Accumulated Depreciation		$ 1,581
Date of Construction		1969
Date Acquired		May 10, 2016
New York [Member] | 201 Neelytown Road, Montgomery, NY [Member] | United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 4,751
Initial Cost to Company, Buildings & Improvements		27,906
Gross Carrying Value of Land, Buildings & Improvements, Total		32,657
Gross Carrying Value, Land		4,751
Gross Carrying Value, Buildings & Improvements		27,906
Accumulated Depreciation		$ 2,020
Date of Construction		2017
Date Acquired		Aug. 31, 2017
New York [Member] | 112 Midland Ave, Port Chester, NY [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 786
Initial Cost to Company, Buildings & Improvements		422
Gross Carrying Value of Land, Buildings & Improvements, Total		1,208
Gross Carrying Value, Land		786
Gross Carrying Value, Buildings & Improvements		422
Accumulated Depreciation		$ 107
Date of Construction		1980
Date Acquired		Mar. 26, 2007
New Jersey [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 26,812
Initial Cost to Company, Buildings & Improvements		93,464
Cost Capitalized Subsequent to Acquisition, Improvements		7,366
Gross Carrying Value of Land, Buildings & Improvements, Total		127,642
Gross Carrying Value, Land		26,812
Gross Carrying Value, Buildings & Improvements		100,830
Accumulated Depreciation		16,774
New Jersey [Member] | 100 American Road, Morris Plains, NJ [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		2,275
Initial Cost to Company, Buildings & Improvements		12,538
Cost Capitalized Subsequent to Acquisition, Improvements		696
Gross Carrying Value of Land, Buildings & Improvements, Total		15,509
Gross Carrying Value, Land		2,275
Gross Carrying Value, Buildings & Improvements		13,234
Accumulated Depreciation		$ 2,575
Date of Construction		1986
Date Acquired		Jan. 17, 2013
New Jersey [Member] | 200 American Road, Morris Plains, NJ [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 725
Initial Cost to Company, Buildings & Improvements		5,361
Cost Capitalized Subsequent to Acquisition, Improvements		50
Gross Carrying Value of Land, Buildings & Improvements, Total		6,136
Gross Carrying Value, Land		725
Gross Carrying Value, Buildings & Improvements		5,411
Accumulated Depreciation		$ 1,015
Date of Construction		2004
Date Acquired		Jan. 17, 2013
New Jersey [Member] | 300 American Road, Morris Plains, NJ [Member] | United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,466
Initial Cost to Company, Buildings & Improvements		6,628
Cost Capitalized Subsequent to Acquisition, Improvements		47
Gross Carrying Value of Land, Buildings & Improvements, Total		8,141
Gross Carrying Value, Land		1,466
Gross Carrying Value, Buildings & Improvements		6,675
Accumulated Depreciation		$ 1,279
Date of Construction		1987
Date Acquired		Jan. 17, 2013
New Jersey [Member] | 400 American Road, Morris Plains, NJ [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,724
Initial Cost to Company, Buildings & Improvements		9,808
Cost Capitalized Subsequent to Acquisition, Improvements		345
Gross Carrying Value of Land, Buildings & Improvements, Total		11,877
Gross Carrying Value, Land		1,724
Gross Carrying Value, Buildings & Improvements		10,153
Accumulated Depreciation		$ 2,071
Date of Construction		1990
Date Acquired		Jan. 17, 2013
New Jersey [Member] | 500 American Road, Morris Plains, NJ [Member] | United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,711
Initial Cost to Company, Buildings & Improvements		8,111
Gross Carrying Value of Land, Buildings & Improvements, Total		9,822
Gross Carrying Value, Land		1,711
Gross Carrying Value, Buildings & Improvements		8,111
Accumulated Depreciation		$ 1,539
Date of Construction		1988
Date Acquired		Jan. 17, 2013
New Jersey [Member] | 20 East Halsey Road, Parsippany, NJ [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,898
Initial Cost to Company, Buildings & Improvements		1,402
Cost Capitalized Subsequent to Acquisition, Improvements		5,830
Gross Carrying Value of Land, Buildings & Improvements, Total		9,130
Gross Carrying Value, Land		1,898
Gross Carrying Value, Buildings & Improvements		7,232
Accumulated Depreciation		$ 970
Date of Construction		1970
Date Acquired		Apr. 23, 2014
New Jersey [Member] | 1110 Centennial Ave, Piscataway, NJ [Member] | Allstate Corporation [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 790
Initial Cost to Company, Buildings & Improvements		1,937
Cost Capitalized Subsequent to Acquisition, Improvements		75
Gross Carrying Value of Land, Buildings & Improvements, Total		2,802
Gross Carrying Value, Land		790
Gross Carrying Value, Buildings & Improvements		2,012
Accumulated Depreciation		$ 313
Date of Construction		1979
Date Acquired		Mar. 13, 2015
New Jersey [Member] | 11 Constitution Ave, Piscataway, NJ [Member] | Allstate Corporation [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,780
Initial Cost to Company, Buildings & Improvements		8,999
Cost Capitalized Subsequent to Acquisition, Improvements		179
Gross Carrying Value of Land, Buildings & Improvements, Total		10,958
Gross Carrying Value, Land		1,780
Gross Carrying Value, Buildings & Improvements		9,178
Accumulated Depreciation		$ 1,199
Date of Construction		1989
Date Acquired		Mar. 13, 2015
New Jersey [Member] | 21 Constitution Ave, Piscataway, NJ [Member] | Allstate Corporation [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 6,187
Initial Cost to Company, Buildings & Improvements		18,855
Gross Carrying Value of Land, Buildings & Improvements, Total		25,042
Gross Carrying Value, Land		6,187
Gross Carrying Value, Buildings & Improvements		18,855
Accumulated Depreciation		$ 2,724
Date of Construction		2004
Date Acquired		Mar. 13, 2015
New Jersey [Member] | 4 Corporate Place, Piscataway, NJ [Member] | Allstate Corporation [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 2,145
Initial Cost to Company, Buildings & Improvements		1,744
Cost Capitalized Subsequent to Acquisition, Improvements		144
Gross Carrying Value of Land, Buildings & Improvements, Total		4,033
Gross Carrying Value, Land		2,145
Gross Carrying Value, Buildings & Improvements		1,888
Accumulated Depreciation		$ 383
Date of Construction		1974
Date Acquired		Mar. 13, 2015
New Jersey [Member] | 8 Corporate Place, Piscataway, NJ [Member] | Allstate Corporation [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 2,666
Initial Cost to Company, Buildings & Improvements		4,381
Gross Carrying Value of Land, Buildings & Improvements, Total		7,047
Gross Carrying Value, Land		2,666
Gross Carrying Value, Buildings & Improvements		4,381
Accumulated Depreciation		$ 802
Date of Construction		1977
Date Acquired		Mar. 13, 2015
New Jersey [Member] | 1938 Olney Avenue, Cherry Hill, NJ [Member] | United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,176
Initial Cost to Company, Buildings & Improvements		5,357
Gross Carrying Value of Land, Buildings & Improvements, Total		6,533
Gross Carrying Value, Land		1,176
Gross Carrying Value, Buildings & Improvements		5,357
Accumulated Depreciation		$ 659
Date of Construction		1966
Date Acquired		Jul. 27, 2017
New Jersey [Member] | 25 Corporate Place, Piscataway, NJ [Member] | Allstate Corporation [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 2,269
Initial Cost to Company, Buildings & Improvements		8,343
Gross Carrying Value of Land, Buildings & Improvements, Total		10,612
Gross Carrying Value, Land		2,269
Gross Carrying Value, Buildings & Improvements		8,343
Accumulated Depreciation		$ 1,245
Date of Construction		1985
Date Acquired		Mar. 13, 2015
Connecticut [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 22,616
Initial Cost to Company, Buildings & Improvements		67,420
Cost Capitalized Subsequent to Acquisition, Improvements		7,702
Gross Carrying Value of Land, Buildings & Improvements, Total		99,234
Gross Carrying Value, Land		24,112
Gross Carrying Value, Buildings & Improvements		75,122
Accumulated Depreciation		14,944
Connecticut [Member] | 466 Bridgeport Ave, Shelton, CT [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		833
Initial Cost to Company, Buildings & Improvements		867
Cost Capitalized Subsequent to Acquisition, Improvements		3,235
Gross Carrying Value of Land, Buildings & Improvements, Total		4,935
Gross Carrying Value, Land		833
Gross Carrying Value, Buildings & Improvements		4,102
Accumulated Depreciation		$ 883
Date of Construction		1982
Date Acquired		Jan. 17, 2013
Connecticut [Member] | 470 Bridgeport Ave, Shelton, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 2,660
Initial Cost to Company, Buildings & Improvements		4,807
Cost Capitalized Subsequent to Acquisition, Improvements		250
Gross Carrying Value of Land, Buildings & Improvements, Total		9,213
Gross Carrying Value, Land		4,156
Gross Carrying Value, Buildings & Improvements		5,057
Accumulated Depreciation		$ 1,181
Date of Construction		1973
Date Acquired		Jan. 17, 2013
Connecticut [Member] | 15 Progress Drive, Shelton, CT [Member] | People's United Bank [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 984
Initial Cost to Company, Buildings & Improvements		3,411
Gross Carrying Value of Land, Buildings & Improvements, Total		4,395
Gross Carrying Value, Land		984
Gross Carrying Value, Buildings & Improvements		3,411
Accumulated Depreciation		$ 719
Date of Construction		1980
Date Acquired		Jan. 17, 2013
Connecticut [Member] | 33 Platt Road, Shelton, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 3,196
Initial Cost to Company, Buildings & Improvements		5,402
Gross Carrying Value of Land, Buildings & Improvements, Total		8,598
Gross Carrying Value, Land		3,196
Gross Carrying Value, Buildings & Improvements		5,402
Accumulated Depreciation		$ 1,909
Date of Construction		1972
Date Acquired		Oct. 15, 2014
Connecticut [Member] | 950-974 Bridgeport Ave, Milford, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,551
Initial Cost to Company, Buildings & Improvements		3,524
Cost Capitalized Subsequent to Acquisition, Improvements		48
Gross Carrying Value of Land, Buildings & Improvements, Total		5,123
Gross Carrying Value, Land		1,551
Gross Carrying Value, Buildings & Improvements		3,572
Accumulated Depreciation		$ 686
Date of Construction		1946
Date Acquired		Jan. 17, 2013
Connecticut [Member] | 12 Cascade Blvd, Orange, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,688
Initial Cost to Company, Buildings & Improvements		3,742
Cost Capitalized Subsequent to Acquisition, Improvements		2
Gross Carrying Value of Land, Buildings & Improvements, Total		5,432
Gross Carrying Value, Land		1,688
Gross Carrying Value, Buildings & Improvements		3,744
Accumulated Depreciation		$ 678
Date of Construction		1987
Date Acquired		Jan. 17, 2013
Connecticut [Member] | 15 Executive Blvd., Orange, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,974
Initial Cost to Company, Buildings & Improvements		5,357
Cost Capitalized Subsequent to Acquisition, Improvements		1,027
Gross Carrying Value of Land, Buildings & Improvements, Total		8,358
Gross Carrying Value, Land		1,974
Gross Carrying Value, Buildings & Improvements		6,384
Accumulated Depreciation		$ 1,568
Date of Construction		1983
Date Acquired		Jan. 17, 2013
Connecticut [Member] | 25 Executive Blvd., Orange, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 438
Initial Cost to Company, Buildings & Improvements		1,481
Cost Capitalized Subsequent to Acquisition, Improvements		59
Gross Carrying Value of Land, Buildings & Improvements, Total		1,978
Gross Carrying Value, Land		438
Gross Carrying Value, Buildings & Improvements		1,540
Accumulated Depreciation		$ 268
Date of Construction		1983
Date Acquired		Jan. 17, 2013
Connecticut [Member] | 22 Marsh Hill Rd, Orange, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,462
Initial Cost to Company, Buildings & Improvements		2,915
Cost Capitalized Subsequent to Acquisition, Improvements		575
Gross Carrying Value of Land, Buildings & Improvements, Total		4,952
Gross Carrying Value, Land		1,462
Gross Carrying Value, Buildings & Improvements		3,490
Accumulated Depreciation		$ 766
Date of Construction		1989
Date Acquired		Jan. 17, 2013
Connecticut [Member] | 269 Lambert Rd, Orange, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,666
Initial Cost to Company, Buildings & Improvements		3,516
Cost Capitalized Subsequent to Acquisition, Improvements		230
Gross Carrying Value of Land, Buildings & Improvements, Total		5,412
Gross Carrying Value, Land		1,666
Gross Carrying Value, Buildings & Improvements		3,746
Accumulated Depreciation		$ 909
Date of Construction		1986
Date Acquired		Jan. 17, 2013
Connecticut [Member] | 110 Old County Circle, Windsor Locks, CT [Member] | Hartford Accident [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,572
Initial Cost to Company, Buildings & Improvements		11,797
Cost Capitalized Subsequent to Acquisition, Improvements		60
Gross Carrying Value of Land, Buildings & Improvements, Total		13,429
Gross Carrying Value, Land		1,572
Gross Carrying Value, Buildings & Improvements		11,857
Accumulated Depreciation		$ 2,855
Date of Construction		2003
Date Acquired		Apr. 8, 2014
Connecticut [Member] | 112 Old County Road, Windsor Locks, CT [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 200
Cost Capitalized Subsequent to Acquisition, Improvements		5,678
Gross Carrying Value of Land, Buildings & Improvements, Total		5,878
Gross Carrying Value, Land		200
Gross Carrying Value, Buildings & Improvements		5,678
Accumulated Depreciation		$ 293
Date of Construction		2018
Date Acquired		Apr. 8, 2014
Connecticut [Member] | 4 Meadow Street, Norwalk, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 856
Initial Cost to Company, Buildings & Improvements		3,034
Cost Capitalized Subsequent to Acquisition, Improvements		530
Gross Carrying Value of Land, Buildings & Improvements, Total		4,420
Gross Carrying Value, Land		856
Gross Carrying Value, Buildings & Improvements		3,564
Accumulated Depreciation		$ 687
Date of Construction		1992
Date Acquired		Aug. 22, 2014
Connecticut [Member] | 777 Brook Street, Rocky Hill, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 2,456
Initial Cost to Company, Buildings & Improvements		8,658
Cost Capitalized Subsequent to Acquisition, Improvements		415
Gross Carrying Value of Land, Buildings & Improvements, Total		11,529
Gross Carrying Value, Land		2,456
Gross Carrying Value, Buildings & Improvements		9,073
Accumulated Depreciation		$ 1,542
Date of Construction		1969
Date Acquired		Jan. 14, 2015
Connecticut [Member] | 35 Executive Blvd., Orange, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	[1]	$ 1,080
Initial Cost to Company, Buildings & Improvements	[1]	8,909
Cost Capitalized Subsequent to Acquisition, Improvements	[1]	(4,407)
Gross Carrying Value of Land, Buildings & Improvements, Total	[1]	5,582
Gross Carrying Value, Land	[1]	1,080
Gross Carrying Value, Buildings & Improvements	[1]	$ 4,502
Date of Construction	[1]	2020
Date Acquired	[1]	Jan. 17, 2013
Delaware [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 2,488
Initial Cost to Company, Buildings & Improvements		13,033
Cost Capitalized Subsequent to Acquisition, Improvements		403
Gross Carrying Value of Land, Buildings & Improvements, Total		15,924
Gross Carrying Value, Land		2,488
Gross Carrying Value, Buildings & Improvements		13,436
Accumulated Depreciation		2,627
Delaware [Member] | 300 McIntire Drive, Newark, DE [Member] | United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		2,488
Initial Cost to Company, Buildings & Improvements		13,033
Cost Capitalized Subsequent to Acquisition, Improvements		403
Gross Carrying Value of Land, Buildings & Improvements, Total		15,924
Gross Carrying Value, Land		2,488
Gross Carrying Value, Buildings & Improvements		13,436
Accumulated Depreciation		$ 2,627
Date of Construction		1999
Date Acquired		Jun. 1, 2016
[1]	Due to the demolition of the property located at 35 Executive Boulevard, Orange, Connecticut, a $7.5 million write down was recorded during 2018. This property was formerly classified as Office but subsequently changed to Industrial due to the construction of a new Industrial building.

Schedule III - Consolidated R_2

Schedule III - Consolidated Real Estate and Accumulated Depreciation (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Write-down of carrying value related to demolished asset	$ 7,489
Principal Outstanding		$ 366,626
People's United Bank [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Principal Outstanding		15,500
Hartford Accident [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Principal Outstanding		6,000
People's United Bank [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Principal Outstanding		2,089
American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Principal Outstanding		233,100
Allstate Corporation [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Principal Outstanding		37,937
United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Principal Outstanding		39,000
United States Life Insurance Company [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Principal Outstanding		$ 33,000
Connecticut [Member] | 35 Executive Blvd., Orange, CT [Member] | American International Group [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Write-down of carrying value related to demolished asset	$ 7,500