Strategic Realty Trust (SGIC) 10-K 18 Mar 20 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 16, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	000-54376
Entity Registrant Name	STRATEGIC REALTY TRUST, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	90-0413866
Entity Address, Address Line One	P.O. Box 5049
Entity Address, City or Town	San Mateo,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94402
City Area Code	650
Local Phone Number	343-9300
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,759,721
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001446371
Current Fiscal Year End Date	--12-31
Entity Voluntary Filers	No
Entity Public Float			$ 0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2019		Dec. 31, 2018
Investments in real estate
Land		$ 13,536		$ 15,217
Building and improvements		23,732		31,697
Tenant improvements		1,264		1,479
Investments in real estate, gross		38,532		48,393
Accumulated depreciation		(3,308)		(3,917)
Investments in real estate, net		35,224		44,476
Properties under development and development costs
Land		25,851		25,851
Buildings		554		570
Development costs		20,813		13,813
Properties under development and development costs		47,218		40,234
Cash, cash equivalents and restricted cash		7,241		3,347
Prepaid expenses and other assets, net		114		137
Tenant receivables, net of $14 and $40 bad debt reserve		727		1,084
Investments in unconsolidated joint ventures		0		2,701
Lease intangibles, net		1,321		1,890
Assets held for sale		9,216		0
Deferred financing costs, net		105		736
TOTAL ASSETS (1)		101,166	[1]	94,605
LIABILITIES
Notes payable, net		33,927		34,536
Accounts payable and accrued expenses		2,404		1,224
Amounts due to affiliates		140		30
Other liabilities		180		375
Liabilities related to assets held for sale		8,939		0
Below-market lease liabilities, net		296		370
TOTAL LIABILITIES (1)		45,886		36,535
Commitments and contingencies (Note 13)
EQUITY
Preferred stock, $0.01 par value; 50,000,000 shares authorized, none issued and outstanding		0		0
Common stock, $0.01 par value; 400,000,000 shares authorized; 10,759,721 and 10,863,299 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively		110		110
Additional paid-in capital		94,719		95,336
Accumulated deficit		(40,571)		(38,546)
Total stockholders’ equity		54,258		56,900
Non-controlling interests		1,022		1,170
TOTAL EQUITY		55,280		58,070
TOTAL LIABILITIES AND EQUITY		101,166		94,605
Variable Interest Entity, Primary Beneficiary [Member]
Properties under development and development costs
Land		25,851		25,851
Buildings		554		570
Development costs		20,813		13,813
Properties under development and development costs		47,218		40,234
Cash, cash equivalents and restricted cash		2,154		276
Prepaid expenses and other assets, net		7		9
Lease intangibles, net		4		4
TOTAL ASSETS (1)	[2]	49,383		40,523
LIABILITIES
Notes payable, net	[3]	16,713		17,166
Accounts payable and accrued expenses		1,702		132
Amounts due to affiliates		111		8
Other liabilities		5		9
TOTAL LIABILITIES (1)		$ 18,531		$ 17,315
[1]	As of December 31, 2019 and December 31, 2018 , includes approximately $49.4 million and $40.5 million , respectively, of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and approximately $18.5 million and $17.3 million , respectively, of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. Refer to Note 5. “Variable Interest Entities”.
[2]	The assets of the Sunset & Gardner Joint Venture and Wilshire Joint Venture can be used only to settle obligations of the respective consolidated joint ventures.
[3]	As of December 31, 2019 and December 31, 2018 , includes reclassification of approximately $0.5 million and $0.3 million , respectively, of deferred financing costs, net, as a contra-liability. The creditors of the consolidated joint ventures do not have recourse to the general credit of the Company. The notes payable of the Wilshire Joint Venture is partially guaranteed by the Company, refer to Note 8, “Notes Payable, Net”. The notes payable of the Sunset & Gardner Joint Venture is not guaranteed by the Company.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding		0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	10,759,721	10,863,299
Common stock, shares outstanding	10,759,721	10,863,299
Bad debt reserve	$ 14	$ 40

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Rental and reimbursements	$ 3,892	$ 6,751
Expense:
Operating and maintenance	1,450	2,426
General and administrative	1,681	1,748
Depreciation and amortization	1,390	1,560
Transaction expense	2	39
Interest expense	667	887
Total expense	5,190	6,660
Operating income (loss)	(1,298)	91
Other income:
Equity in income of unconsolidated joint ventures	27	229
Net gain on sale of unconsolidated joint venture interests	1,417	0
Net gain on disposal of real estate	13	7,932
Income before income taxes	159	8,252
Income taxes	(21)	75
Net income	138	8,327
Net income attributable to non-controlling interests	3	175
Net income attributable to common stockholders	$ 135	$ 8,152
Earnings per common share - basic and diluted	$ 0.01	$ 0.74
Weighted average shares outstanding used to calculate earnings per common share - basic and diluted	10,818,686	10,962,716

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Non-controlling Interests	Total Stockholders' Equity
BALANCE at Dec. 31, 2017	$ 52,518,000	$ 111,000	$ 96,097,000	$ (44,741,000)	$ 1,051,000	$ 51,467,000
BALANCE (in shares) at Dec. 31, 2017		10,988,438
Stock Issued During Period, Value, Conversion of Units			0
Redemption of common shares, value	(762,000)	$ (1,000)	(761,000)	0	0	(762,000)
Redemption of common shares (in shares)		(125,139)
Quarterly distributions	(2,681,000)	$ 0	0	(2,625,000)	(56,000)	(2,625,000)
Stock Dividends, Shares		0
Cumulative effect from change in accounting principle	668,000	$ 0	0	668,000	0	668,000
Net income (loss)	8,327,000	0	0	8,152,000	175,000	8,152,000
BALANCE at Dec. 31, 2018	58,070,000	$ 110,000	95,336,000	(38,546,000)	1,170,000	56,900,000
BALANCE (in shares) at Dec. 31, 2018		10,863,299
Stock Issued During Period, Value, Conversion of Units	0	$ 0	105,000	0	(105,000)	105,000
Stock Issued During Period, Shares, Conversion of Units		17,719
Redemption of common shares, value	(722,000)	$ 0	(722,000)	0	0	(722,000)
Redemption of common shares (in shares)		(121,297)
Quarterly distributions	(2,206,000)	$ 0	0	(2,160,000)	(46,000)	(2,160,000)
Stock Dividends, Shares		0
Cumulative effect from change in accounting principle	0
Net income (loss)	138,000	$ 0	0	135,000	3,000	135,000
BALANCE at Dec. 31, 2019	$ 55,280,000	$ 110,000	$ 94,719,000	$ (40,571,000)	$ 1,022,000	$ 54,258,000
BALANCE (in shares) at Dec. 31, 2019		10,759,721

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 138	$ 8,327
Adjustments to reconcile net income to net cash provided by operating activities:
Net gain on disposal of real estate	(13)	(7,932)
Net gain on sale of joint venture interests	(1,417)	0
Equity in income of unconsolidated joint ventures	(27)	(229)
Straight-line rent	(98)	(139)
Amortization of deferred costs	631	600
Depreciation and amortization	1,390	1,560
Amortization of above and below-market leases	(23)	(21)
Bad debt expense	282	54
Changes in operating assets and liabilities:
Prepaid expenses and other assets	23	63
Tenant receivables	65	(3)
Accounts payable and accrued expenses	(62)	(428)
Amounts due to affiliates	110	9
Other liabilities	(195)	(12)
Net cash provided by operating activities	804	1,849
Cash flows from investing activities:
Net proceeds from the sale of real estate	13	24,735
Net proceeds from sale of unconsolidated joint venture interests	4,150	0
Investment in properties under development and development costs	(4,884)	(3,987)
Improvements, capital expenditures, and leasing costs	(709)	(872)
Investments in unconsolidated joint ventures	(38)	(248)
Distributions from unconsolidated joint ventures	33	481
Net cash provided by (used in) investing activities	(1,435)	20,109
Cash flows from financing activities:
Redemption of common shares	(722)	(762)
Quarterly distributions	(2,652)	(2,688)
Proceeds from notes payable	39,545	27,550
Repayment of notes payable	(30,244)	(45,786)
Payment of loan fees from investments in consolidated variable interest entities	(617)	(748)
Payment of loan fees and financing costs	(785)	(79)
Net cash provided by (used in) financing activities	4,525	(22,513)
Net increase (decrease) in cash, cash equivalents and restricted cash	3,894	(555)
Cash, cash equivalents and restricted cash – beginning of period	3,347	3,902
Cash, cash equivalents and restricted cash – end of period	7,241	3,347
Supplemental disclosure of non-cash investing and financing activities and other cash flow information:
Distributions declared but not paid	220	666
Change in accrued liabilities capitalized to investment in development	1,692	(269)
Change to accrued mortgage note payable interest capitalized to investment in development	(11)	(77)
Amortization of deferred loan fees capitalized to investment in development	419	549
Conversion of OP units to common shares	0
Changes in capital improvements, accrued but not paid	7	0
Cumulative effect from change in accounting principle	0	668
Cash paid for interest, net of amounts capitalized	86	366
Additional Paid-in Capital
Cash flows from operating activities:
Net income	0	0
Supplemental disclosure of non-cash investing and financing activities and other cash flow information:
Conversion of OP units to common shares	$ 105	0
Cumulative effect from change in accounting principle		$ 0

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	ORGANIZATION AND BUSINESS Strategic Realty Trust, Inc. (the “Company”) was formed on September 18, 2008, as a Maryland corporation. Effective August 22, 2013, the Company changed its name from TNP Strategic Retail Trust, Inc. to Strategic Realty Trust, Inc. The Company believes it qualifies as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), and has elected REIT status beginning with the taxable year ended December 31, 2009, the year in which the Company began material operations. Since the Company’s inception, its business has been managed by an external advisor. The Company has no direct employees and all management and administrative personnel responsible for conducting the Company’s business are employed by its advisor. Currently, the Company is externally managed and advised by SRT Advisor, LLC, a Delaware limited liability company (the “Advisor”) pursuant to an advisory agreement with the Advisor (the “Advisory Agreement”) initially executed on August 10, 2013, and subsequently renewed every year through 2019. The current term of the Advisory Agreement terminates on August 9, 2020 . The Advisor is an affiliate of Glenborough, LLC (together with its affiliates, “Glenborough”), a privately held full-service real estate investment and management company focused on the acquisition, management and leasing of commercial properties. Substantially all of the Company’s business is conducted through Strategic Realty Operating Partnership, L.P. (the “OP”). During the Company’s initial public offering (“Offering”), as the Company accepted subscriptions for shares of its common stock, it transferred substantially all of the net proceeds of the Offering to the OP as a capital contribution. The Company is the sole general partner of the OP. As of December 31, 2019 and December 31, 2018 , the Company owned 98.0% and 97.9% , respectively, of the limited partnership interests in the OP. The Company’s principal demand for funds has been for the acquisition of real estate assets, the payment of operating expenses, interest on outstanding indebtedness, the payment of distributions to stockholders, and investments in unconsolidated joint ventures as well as development of properties. Substantially all of the proceeds of the completed Offering have been used to fund investments in real properties and other real estate-related assets, for payment of operating expenses, for payment of interest, for payment of various fees and expenses, such as acquisition fees and management fees, and for payment of distributions to stockholders. The Company’s available capital resources, cash and cash equivalents on hand and sources of liquidity are currently limited. The Company expects its future cash needs will be funded using cash from operations, future asset sales, debt financing and the proceeds to the Company from any sale of equity that it may conduct in the future. The Company invests in and manages a portfolio of income-producing retail properties, located in the United States, real estate-owning entities and real estate-related assets. The Company has invested directly, and indirectly through joint ventures, in a portfolio of income-producing retail properties located throughout the United States, with a focus on grocery anchored multi-tenant retail centers, including neighborhood, community and lifestyle shopping centers, multi-tenant shopping centers and free standing single-tenant retail properties. During the first quarter of 2016, the Company invested, through joint ventures, in two significant retail projects under development. As of December 31, 2019 , in addition to the development projects, the Company’s portfolio of properties was comprised of 8 properties, including one property held for sale, with approximately 86,000 rentable square feet of retail space located in two states. As of December 31, 2019 , the rentable space at the Company’s retail properties was 90% leased.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-K and Regulation S-X. The consolidated financial statements include the accounts of the Company, the OP, their direct and indirect owned subsidiaries, and the accounts of joint ventures that are determined to be variable interest entities for which the Company is the primary beneficiary. All significant intercompany balances and transactions are eliminated in consolidation. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the Company’s consolidated financial position, results of operations and cash flows have been included. The Company evaluates the need to consolidate joint ventures and variable interest entities based on standards set forth in ASC Topic 810, Consolidation (“ASC 810”). In determining whether the Company has a controlling interest in a joint venture or a variable interest entity and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the partners/members, as well as whether the entity is a variable interest entity for which the Company is the primary beneficiary. As of December 31, 2018 , the Company held ownership interests in two unconsolidated joint ventures. During 2019, the Company sold its interests in these unconsolidated joint ventures. Refer to Note 4. “Investments in Unconsolidated Joint Ventures” for additional information. As of December 31, 2019 and December 31, 2018 , the Company held variable interests in two variable interest entities and consolidated those entities. Refer to Note 5. “Variable Interest Entities” for additional information. Non-Controlling Interests The Company’s non-controlling interests are comprised of common units in the OP (“Common Units”). The Company accounts for non-controlling interests in accordance with ASC 810. In accordance with ASC 810, the Company reports non-controlling interests in subsidiaries within equity in the consolidated financial statements, but separate from stockholders’ equity. Net income attributable to non-controlling interests is presented as a reduction from net income in calculating net income attributable to common stockholders on the consolidated statement of operations. Acquisitions or dispositions of non-controlling interests that do not result in a change of control are accounted for as equity transactions. In addition, ASC 810 requires that a parent company recognize a gain or loss in the Company’s results of operations when a subsidiary is deconsolidated upon a change in control. In accordance with ASC 480-10, Distinguishing Liabilities from Equity , non-controlling interests that are determined to be redeemable are carried at their fair value or redemption value as of the balance sheet date and reported as liabilities or temporary equity depending on their terms. The Company periodically evaluates individual non-controlling interests for the ability to continue to recognize the non-controlling interest as permanent equity in the consolidated balance sheets. Any non-controlling interest that fails to qualify as permanent equity will be reclassified as liabilities or temporary equity. All non-controlling interests at December 31, 2019 and 2018, qualified as permanent equity. Use of Estimates The preparation of the Company’s consolidated financial statements requires significant management judgments, assumptions and estimates about matters that are inherently uncertain. These judgments affect the reported amounts of assets and liabilities and the Company’s disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. With different estimates or assumptions, materially different amounts could be reported in the Company’s consolidated financial statements, and actual results could differ from the estimates or assumptions used by management. Additionally, other companies may utilize different estimates that may impact the comparability of the Company’s consolidated results of operations to those of companies in similar businesses. The Company considers significant estimates to include the carrying amounts and recoverability of investments in real estate, impairments, real estate acquisition purchase price allocations, allowance for doubtful accounts, estimated useful lives to determine depreciation and amortization and fair value determinations, among others. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents represent current bank accounts and other bank deposits free of encumbrances and having maturity dates of three months or less from the respective dates of deposit. The Company limits cash investments to financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk in cash. Restricted cash includes escrow accounts for real property taxes, insurance, capital expenditures and tenant improvements, debt service and leasing costs held by lenders. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the consolidated balance sheets that sum to the total of the same such amounts shown on the consolidated statement of cash flows (amounts in thousands): December 31, 2019 December 31, 2018 Cash and cash equivalents $ 6,119 $ 3,347 Restricted cash 1,122 — Total cash, cash equivalents, and restricted cash $ 7,241 $ 3,347 Revenue Recognition Revenues include minimum rents, expense recoveries and percentage rental payments. Minimum rents are recognized on an accrual basis over the terms of the related leases on a straight-line basis when collectability is reasonably assured and the tenant has taken possession or controls the physical use of the leased property. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. For leases with minimum scheduled rent increases, the Company recognizes income on a straight-line basis over the lease term when collectability is reasonably assured. Recognizing rental income on a straight-line basis for leases results in recognized revenue amounts which differ from those that are contractually due from tenants on a cash basis. If the Company determines the collectability of straight-line rents is not reasonably assured, the Company limits future recognition to amounts contractually owed and paid, and, when appropriate, establishes an allowance for estimated losses. The Company maintains an allowance for doubtful accounts, including an allowance for straight-line rent receivables, for estimated losses resulting from tenant defaults or the inability of tenants to make contractual rent and tenant recovery payments. The Company monitors the liquidity and creditworthiness of its tenants on an ongoing basis. For straight-line rent amounts, the Company’s assessment is based on amounts estimated to be recoverable over the term of the lease. The Company’s straight-line rent receivable (excluding properties held for sale), which is included in tenant receivables, net, on the consolidated balance sheets, was approximately $0.6 million at each December 31, 2019 and 2018. Certain leases contain provisions that require the payment of additional rents based on the respective tenants’ sales volume (contingent or percentage rent) and substantially all contain provisions that require reimbursement of the tenants’ allocable real estate taxes, insurance and common area maintenance costs (“CAM”). Revenue based on percentage of tenants’ sales is recognized only after the tenant exceeds its sales breakpoint. Revenue from tenant reimbursements of taxes, insurance and CAM is recognized in the period that the applicable costs are incurred in accordance with the lease agreement. In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers , which was added to the ASC under Topic 606 (“ASC 606”) (“ASU 2014-09”). ASC 606 outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers. As the Company’s revenues are primarily generated through leasing arrangements, and the Company has elected the lessor practical expedient to not separate common area maintenance and reimbursement of real estate taxes from the associated lease for all existing and new leases under ASC 842, the Company’s revenues fall outside the scope of this standard. As part of ASU 2014-09, ASC 610-20, Gains and Losses from Derecognition of Nonfinancial Assets , (“ASC 610-20”) was issued. ASC 610-20 provided guidance for recognizing gains and losses from the transfer of nonfinancial assets, which includes the sale of real estate. In February 2017, the FASB issued ASU No. 2017-05, Other Income-Gains and Losses for the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”). ASU 2017-05 amends the guidance on nonfinancial assets in ASC 610-20. The amendments clarify that (i) a financial asset is within the scope of ASC 610-20 if it meets the definition of an in-substance nonfinancial asset and may include nonfinancial assets transferred within a legal entity to a counter-party, (ii) an entity should identify each distinct nonfinancial asset or in substance nonfinancial asset promised to a counter-party and de-recognize each asset when a counter-party obtains control of it, and (iii) an entity should allocate consideration to each distinct asset by applying the guidance in ASC 606 on allocating the transaction price to performance obligations. Further, ASU 2017-05 provides guidance on accounting for partial sales of nonfinancial assets. Effective January 1, 2018, the Company applied the provisions of ASC 610-20, for gains on sale of real estate, and recognizes any gains at the time control of a property is transferred and when it is probable that substantially all of the related consideration will be collected. As a result of adopting ASC 610-20, using the modified retrospective method, the sales criteria in ASC 360, Property, Plant, and Equipment , no longer applied. As such, the Company recognized $0.7 million of deferred gains related to sales of properties to the SGO Retail Acquisitions Venture, LLC, through a cumulative effect adjustment to accumulated deficit. Other than the cumulative effect adjustment relating to such deferred gains, the adoption of ASC 606 and ASC 610-20 did not have an impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires entities to recognize lease assets and lease liabilities on the consolidated balance sheet and disclose key information about leasing arrangements. The guidance retains a distinction between finance leases and operating leases. The recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed from previous guidance. However, the principal difference from previous guidance is that the lease assets and lease liabilities arising from operating leases should be recognized in the statement of financial position. The accounting applied by a lessor is largely unchanged from that applied under ASC Topic 840, Leases (“ASC 840”). Lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using the modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply under ASC Topic 842, Leases (“ASC 842”). The amendments in this guidance are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company adopted ASU 2016-02 (as amended by subsequent ASUs) effective January 1, 2019, utilizing the practical expedients described in ASU 2018-11. The Company has elected the lessor practical expedient to not separate common area maintenance and reimbursement of real estate taxes from the associated lease for all existing and new leases as the timing and pattern of payments and associated lease payments are the same. The timing of revenue recognition remains the same for the Company’s existing leases and new leases. Revenues related to the Company’s leases continue to be reported on one line in the presentation within the statement of operations as a result of electing this lessor practical expedient. The Company continues to capitalize its direct leasing costs. These costs are incurred as a result of obtaining new leases, and renewing leases, and are paid to the Company’s Advisor. Additionally, the Company is not a lessee of real estate or equipment, as it is externally managed by its Advisor. Valuation of Accounts Receivable The Company makes estimates of the collectability of its tenant receivables related to base rents, including deferred rents receivable, expense reimbursements and other revenue or income. The Company analyzes tenant receivables, deferred rent receivable, historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In addition, with respect to tenants in bankruptcy, the Company will make estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, the Company will record a bad debt reserve for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments. Concentration of Credit Risk A concentration of credit risk arises in the Company’s business when a tenant occupies a substantial amount of space in properties owned by the Company or accounts for a substantial amount of annual revenue. In that event, if the tenant suffers a significant downturn in its business, it may become unable to make its contractual rent payments to the Company, exposing the Company to potential losses in rental revenue, expense recoveries, and percentage rent. Generally, the Company does not obtain security deposits from the nationally-based or regionally-based tenants in support of their lease obligations to the Company. The Company regularly monitors its tenant base to assess potential concentrations of credit risk. As of December 31, 2019, in other than the Company’s properties classified as held for sale, Clover Juice, Connor Concepts, Inc., and A Mano each accounted for more than 10% of the Company’s annual minimum rent. As of December 31, 2019, $35 thousand and $10 thousand was outstanding from Clover Juice and A Mano, respectively. There were no amounts outstanding from Connor Concepts, Inc. As of December 31, 2018, Clover Juice, Connor Concepts, Inc., and Western Sizzling each accounted for more than 10% of the Company’s annual minimum rent. As of December 31, 2018, $46 thousand was outstanding from Clover Juice. There were no amounts outstanding from Connor Concepts, Inc., or Western Sizzling. Reportable Segments ASC 280, Segment Reporting , establishes standards for reporting financial and descriptive information about an enterprise’s reportable segments. The Company has one reportable segment, income-producing retail properties, which consists of activities related to investing in real estate. The retail properties are geographically diversified throughout the United States, and the Company evaluates operating performance on an overall portfolio level. Investments in Real Estate The Company applies the provisions of ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”) to account for property acquisitions. ASU No. 2017-01 clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework establishes a screen for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. Evaluation of business combination or asset acquisition: The Company evaluates each acquisition of real estate to determine if the integrated set of assets and activities acquired meet the definition of a business and need to be accounted for as a business combination. If either of the following criteria is met, the integrated set of assets and activities acquired would not qualify as a business: • Substantially all of the fair value of the gross assets acquired is concentrated in either a single identifiable asset or a group of similar identifiable assets; or • The integrated set of assets and activities is lacking, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs (i.e. revenue generated before and after the transaction). An acquired process is considered substantive if: • The process includes an organized workforce (or includes an acquired contract that provides access to an organized workforce), that is skilled, knowledgeable, and experienced in performing the process; • The process cannot be replaced without significant cost, effort, or delay; or • The process is considered unique or scarce. Generally, the Company expects that acquisitions of real estate will not meet the revised definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets), or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. In asset acquisitions, the purchase consideration, including acquisition costs, is allocated to the individual assets acquired and liabilities assumed on a relative fair value basis. As a result, asset acquisitions do not result in the recognition of goodwill or a bargain purchase gain. Depreciation and amortization is computed using a straight-line method over the estimated useful lives of the assets as follows: Years Buildings and improvements 5 - 30 years Tenant improvements 1 - 15 years Tenant improvement costs recorded as capital assets are depreciated over the tenant’s remaining lease term, which the Company has determined approximates the useful life of the improvement. Expenditures for ordinary maintenance and repairs are expensed to operations as incurred. Significant renovations and improvements that improve or extend the useful lives of assets are capitalized. Acquisition costs related to asset acquisitions are capitalized in the consolidated balance sheets. Properties Under Development The initial cost of properties under development includes the acquisition cost of the property, direct development costs and borrowing costs directly attributable to the development. Borrowing costs associated with direct expenditures on properties under development are capitalized. The amount of capitalized borrowing costs is determined by reference to borrowings specific to the project, where relevant. Borrowing costs are capitalized from the commencement of the development until the date of practical completion. Practical completion is when the property is capable of operating in the manner intended by management. Capitalization of borrowing costs is suspended if there are prolonged periods when development activity is interrupted. Capitalized costs are reduced by any profits from incidental operations. Interest on projects is based on interest rates in place during the development period, and is capitalized until the project is ready for its intended use. The amount of interest capitalized during the years ended December 31, 2019 and 2018, was approximately $2.7 million and $3.5 million , respectively. Impairment of Long-lived Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its investments in real estate and related intangible assets may not be recoverable. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets through its undiscounted future cash flows (excluding interest) and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the investments in real estate and related intangible assets. Key inputs that the Company estimates in this analysis include projected rental rates, capital expenditures, property sale capitalization rates, and expected holding period of the property. The Company evaluates its equity investments for impairment in accordance with ASC 320, Investments – Debt and Securities (“ASC 320”). ASC 320 provides guidance for determining when an investment is considered impaired, whether impairment is other-than-temporary, and measurement of an impairment loss. The Company continually monitors its properties under development for impairment. Estimates of future cash flows used to test the recoverability of properties under development are based on their expected service potential when development is substantially complete. Those estimates include cash flows associated with all future expenditures necessary to develop the properties under development, including interest payments that will be capitalized as part of the cost of the properties under development. The Company did not record any impairment losses during the years ended December 31, 2019 and 2018. Assets Held for Sale and Discontinued Operations When certain criteria are met, long-lived assets are classified as held for sale and are reported at the lower of their carrying value or their fair value, less costs to sell, and are no longer depreciated. Refer to Note 3. “Real Estate Investments” for a discussion of property sales. Fair Value Measurements Under GAAP, the Company is required to measure or disclose certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired real estate loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3: prices or valuation techniques where little or no market data is available for inputs that are significant to the fair value measurement. When available, the Company utilizes quoted market prices or other observable inputs (Level 2 inputs), such as interest rates or yield curves, from independent third-party sources to determine fair value and classify such items in Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to use significant judgment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third-party may rely more on models with inputs based on information available only to that independent third party. When the Company determines the market for an asset owned by it to be illiquid or when market transactions for similar instruments do not appear orderly, the Company uses several valuation sources (including internal valuations, discounted cash flow analysis and external appraisals) and establishes a fair value by assigning weights to the various valuation sources. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities when traded as assets; or (ii) a present value technique that considers the future cash flows based on contractual obligations discounted by observed or estimated market rates of comparable liabilities. The use of contractual cash flows with regard to amount and timing significantly reduces the judgment applied in arriving at fair value. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument. The Company considers the following factors to be indicators of an inactive market: (1) there are few recent transactions; (2) price quotations are not based on current information; (3) price quotations vary substantially either over time or among market makers (for example, some brokered markets); (4) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability; (5) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability; (6) there is a wide bid-ask spread or significant increase in the bid-ask spread; (7) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities; and (8) little information is released publicly (for example, a principal-to-principal market). The Company considers the following factors to be indicators of non-orderly transactions: (1) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions; (2) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant; (3) the seller is in or near bankruptcy or receivership (that is, distressed), or the seller was required to sell to meet regulatory or legal requirements (that is, forced); and (4) the transaction price is an outlier when compared with other recent transactions for the same or similar assets or liabilities. Deferred Financing Costs Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing. These costs are amortized over the terms of the respective financing agreements using the straight-line method which approximates the effective interest method. Unamortized deferred financing costs are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financings that do not close are expensed in the period in which it is determined that the financing will not close. The Company presents deferred financing costs, net of accumulated amortization, as a contra-liability that reduces the carrying amount of the associated note payable, rather than as a deferred asset. Deferred financing costs related to a line-of-credit arrangement are presented on the balance sheet as a deferred asset, regardless of whether there were any outstanding borrowings at period-end. Accounting for Investments in Unconsolidated Joint Ventures The Company accounts for its investments in unconsolidated joint ventures under the equity method of accounting. Under the equity method of accounting, the Company records its initial investment in a joint venture at cost and subsequently adjusts the cost for the Company’s share of the joint venture’s income or loss and cash contributions and distributions each period. Refer to Note 4. “Investments in Unconsolidated Joint Ventures” for a discussion of the Company’s investments in joint ventures. The Company monitors its investments in unconsolidated joint ventures periodically for impairment. No impairment indicators were identified and no impairment losses were recorded during the years ended December 31, 2019 and 2018. As of December 31, 2019, the Company sold its interests in the unconsolidated joint ventures. Refer to Note 4. “Investments in Unconsolidated Joint Ventures” for more information. Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during wh

REAL ESTATE INVESTMENTS REAL ES

REAL ESTATE INVESTMENTS REAL ESTATE INVESTMENTS	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
REAL ESTATE INVESTMENTS	REAL ESTATE INVESTMENTS Assets Held for Sale and Liabilities Related to Assets Held for Sale At December 31, 2019 , Topaz Marketplace, located in Hesperia, CA, was classified as held for sale in the consolidated balance sheets. Since the sale of this property does not represent a strategic shift that will have a major effect on the Company’s operations and financial results, the results of operations of this property were not reported as discontinued operations in the Company’s consolidated financial statements. Initially, the Company intends to use the net proceeds from the sale of this property to repay a portion of the outstanding balance on its line of credit. The Company’s consolidated statements of operations include net operating income of approximately $0.6 million and $0.5 million for the years ended December 31, 2019 and 2018 , related to the assets held for sale. There were no assets classified as held for sale at December 31, 2018 . The major classes of assets and liabilities related to assets held for sale included in the consolidated balance sheets are as follows (amounts in thousands): December 31, 2019 ASSETS Investments in real estate Land $ 1,680 Building and improvements 7,966 Tenant improvements 898 10,544 Accumulated depreciation (1,709 ) Investments in real estate, net 8,835 Tenant receivables, net 108 Lease intangibles, net 273 Assets held for sale $ 9,216 LIABILITIES Notes payable $ 8,927 Below-market lease intangibles, net 12 Liabilities related to assets held for sale $ 8,939 Amounts above are being presented at their carrying value, which the Company believes to be lower than their estimated fair value less costs to sell.

INVESTMENTS IN UNCONSOLIDATED J

INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES To increase liquidity, in anticipation of the impending maturity of the Company’s line credit in February 2020, on December 27, 2019, the Company entered into the Membership Interest Purchase Agreement with an affiliate of the SGO and SGO MN Joint Ventures and the Advisor. Under the Membership Interest Purchase Agreement, the Company sold and transferred all of its remaining interests in the SGO Joint Venture and SGO MN Joint Venture for a total sales price of approximately $4.2 million . At the time of sale, these joint ventures owned, in aggregate, five properties comprising approximately 494,000 square feet, down from the acquisition size of 18 properties and approximately 1,447,000 square feet. At the request of the Audit Committee of the Board of Directors, the Company received a fairness opinion from a third-party financial advisory and valuation firm that opined that the purchase price was fair to the Company from a financial point of view. After the transfer, Oaktree continues to own an 80% interest in both SGO and SGO MN Joint Ventures and GPP owns a 20% interest in these joint ventures. The Company has no remaining performance obligations following the sale of its interests in these joint ventures. The sale of the interests in the above joint ventures resulted in a total gain of approximately $1.4 million , which was included on the Company’s consolidated statement of operations. SGO Joint Venture Entry into SGO Joint Venture Agreement On March 11, 2015, the Company, through a wholly-owned subsidiary, entered into the Limited Liability Company Agreement of SGO Retail Acquisition Venture, LLC (the “SGO Agreement”) to form a joint venture with Grocery Retail Grand Avenue Partners, LLC, a subsidiary of Oaktree Real Estate Opportunities Fund VI, L.P. (“Oaktree”), and GLB SGO, LLC, a wholly-owned subsidiary of GPP (together with the Company and Oaktree, the “SGO Members”). GPP is an affiliate of the Company’s property manager, Glenborough, and an affiliate of the Advisor. The joint venture obtained a $34.0 million non-recourse mortgage loan from an unaffiliated third-party lender to purchase the properties. The SGO Agreement provided for the ownership and operation of SGO Retail Acquisition Venture, LLC (the “SGO Joint Venture”), in which the Company owned a 19% interest, GPP owned a 1% interest, and Oaktree owned an 80% interest. In exchange for ownership in the SGO Joint Venture, the Company contributed $4.5 million to the SGO Joint Venture, which amount was credited against the sale of the Initial SGO Properties (as defined below) to the Joint Venture (as described below), GPP contributed $0.2 million to the SGO Joint Venture, and Oaktree contributed $19.1 million to the SGO Joint Venture. Pursuant to the SGO Agreement, GPP manages and conducts the day-to-day operations and affairs of the SGO Joint Venture, subject to certain major decisions set forth in the SGO Agreement that require the consent of at least two members, one of whom must be Oaktree. Income, losses and distributions will generally be allocated based on the members’ respective ownership interests. Additionally, in certain circumstances described in the SGO Agreement, the SGO Members may be required to make additional capital contributions to the SGO Joint Venture, in proportion to the SGO Members’ respective ownership interests. Pursuant to the SGO Agreement, the SGO Joint Venture pays GPP a monthly asset management fee equal to a percentage of the aggregate investment value of the property owned by the SGO Joint Venture in the preceding month. In addition, if Oaktree has received a 12% internal rate of return on its capital contribution, then promptly following the sale of the last of the Initial SGO Properties, the SGO Joint Venture will pay GPP a disposition fee equal to 1% of the aggregate net sales proceeds received by the SGO Joint Venture from the sales of the Initial SGO Properties. The SGO Joint Venture may make distributions of net cash flow to the SGO Members no less than quarterly, if appropriate. Distributions are pro rata to the SGO Members in proportion to their respective ownership interests in the SGO Joint Venture until the SGO Members have received a 12% internal rate of return on their capital contribution. Thereafter distributions will be 5% to the Company, 5% to GPP and the balance to the Company, GPP and Oaktree pro rata in proportion to each SGO Member’s respective ownership interests in the SGO Joint Venture until Oaktree has received aggregate distributions in an amount necessary to provide Oaktree with the greater of a 17% internal rate of return on its capital contribution and a 1.5 equity multiple on its capital contribution. Distributions will then be 12.5% to the Company, 5% to GPP and the balance to the Company, GPP and Oaktree pro rata in proportion to each SGO Member’s respective ownership interests in the SGO Joint Venture until Oaktree has received aggregate distributions in an amount necessary to provide Oaktree with the greater of a 22% internal rate of return on its capital contribution and a 1.75 equity multiple on its capital contribution (the “SGO Promoted Returns”). Distributions will then be 20% to the Company, 5% to GPP and the balance to the Company, GPP and Oaktree pro rata in proportion to each SGO Member’s respective ownership interests in the SGO Joint Venture. The portion of the SGO Promoted Returns payable to GPP are referred to herein as the “GPP SGO Incentive Fee.” The portion of the SGO Promoted Returns payable to the Company are referred to herein as the Company’s “SGO Earn Out.” As a part of the negotiations for the SGO Joint Venture, Glenborough agreed to reduce certain property management and related charges payable by the SGO Joint Venture from levels that were in place for these assets when held by the Company; the GPP SGO Incentive Fee was implemented in order to provide GPP and its affiliates with an opportunity to recoup those reductions should the SGO Joint Venture assets perform well financially. Sale of Initial Properties to SGO Joint Venture On March 11, 2015, as part of the formation of the SGO Joint Venture, the Company entered into a Purchase and Sale Agreement to sell Osceola Village, Constitution Trail and Aurora Commons to the SGO Joint Venture. The closing of the sale was conditioned on the SGO Joint Venture issuing the Company a 19% membership interest and GPP a 1% membership interest in the SGO Joint Venture. Due to the related party membership interests in the SGO Joint Venture, the sale of the Initial Properties was considered a partial sale in accordance with ASC Subtopic 360-20, Property, Plant, and Equipment – Real Estate Sales . The related party interests consist of the Company’s 19% and GPP’s 1% membership interests in the SGO Joint Venture. As a result, the Company deferred $1.2 million , representing 20% , of the total realized gain from the sale of the Initial Properties to the SGO Joint Venture. During the year ended December 31, 2017, the SGO Joint Venture completed the sales of the Aurora Common property and a portion of Osceola Village. As a result of the sales, during the year ended December 31, 2017, the Company recognized approximately $0.5 million , of the previously deferred gain. Effective January 1, 2018, the Company applied the provisions of ASC 610-20, for gains on sale of real estate, and recognizes any gains at the time control of a property is transferred and when it is probable that substantially all of the related consideration will be collected. As a result of adopting ASC 610-20, using the modified retrospective method, the sales criteria in ASC 360, Property, Plant, and Equipment , no longer applied. As such, the Company recognized $0.7 million of deferred gains related to sales of properties to the SGO Joint Venture, through a cumulative effect adjustment to accumulated deficit. SGO MN Joint Venture On September 30, 2015, the Company, through wholly-owned subsidiaries, entered into the Limited Liability Company Agreement of SGO MN Retail Acquisitions Venture, LLC (the “SGO MN Agreement”) to form a joint venture with MN Retail Grand Avenue Partners, LLC, a subsidiary of Oaktree, and GLB SGO MN, LLC, a wholly-owned subsidiary of GPP (together with the Company and Oaktree, the “SGO MN Members”). The SGO MN Agreement provides for the ownership and operation of SGO MN Retail Acquisition Venture, LLC (the “SGO MN Joint Venture”), in which the Company owned a 10% interest, GPP owned a 10% interest, and Oaktree owned an 80% interest. In exchange for ownership in the SGO MN Joint Venture, the Company contributed cash in the amount of $2.8 million to the SGO MN Joint Venture, GPP contributed $2.8 million to the SGO MN Joint Venture, and Oaktree contributed $22.7 million to the SGO MN Joint Venture. On September 30, 2015, the SGO MN Joint Venture used the capital contributions of the SGO MN Members, together with the proceeds of a loan from Bank of America, NA in the amount of $50.5 million , to acquire 14 retail properties located in Minnesota, North Dakota and Nebraska (the “SGO MN Properties”) from a subsidiary of IRET Properties, L.P., a subsidiary of Investors Real Estate Trust (“IRET”), for a total purchase price of $79.0 million . Subsequently, the SGO MN Joint Venture purchased an additional two retail properties in Minnesota from IRET for a purchase price of $1.6 million , one transaction closed on December 23, 2015 and the other on January 8, 2016. In 2016, the SGO MN Joint Venture sold six of the properties and distributed the net sales proceeds, after required reduction of debt, to the SGO MN Members. In 2018 and 2017, the SGO MN Joint Venture sold three and two of the SGO MN Properties, respectively, and distributed the net sales proceeds, after required reduction of debt, to the SGO MN Members. Pursuant to the SGO MN Agreement, GPP manages and conducts the day-to-day operations and affairs of the SGO MN Joint Venture, subject to certain major decisions set forth in the SGO MN Agreement that require the consent of at least two of the SGO MN Members, one of whom must be Oaktree. Income, losses and distributions are generally allocated based on the SGO MN Members’ respective ownership interests. Additionally, in certain circumstances described in the SGO MN Agreement, the SGO MN Members may be required to make additional capital contributions to the SGO MN Joint Venture, in proportion to the Members’ respective ownership interests. Pursuant to the SGO MN Agreement, the SGO MN Joint Venture pays GPP a monthly asset management fee equal to a percentage of the aggregate investment value of the property owned by the SGO MN Joint Venture in the preceding month. In addition, if Oaktree has received a 12% internal rate of return on its capital contribution, then promptly following the sale of the last of the SGO MN Properties, the SGO MN Joint Venture will pay GPP a disposition fee equal to one percent of the aggregate net sales proceeds received by the SGO MN Joint Venture from the sales of the SGO MN Properties. The SGO MN Joint Venture makes distributions of net cash flow to the SGO MN Members no less than quarterly, if appropriate. Distributions are pro rata to the SGO MN Members in proportion to their respective ownership interests in the SGO MN Joint Venture until the SGO MN Members have received a 12% internal rate of return on their capital contribution. Thereafter distributions will be 10% to GPP and the balance to the Company, GPP and Oaktree pro rata in proportion to each SGO MN Member’s respective ownership interests in the SGO MN Joint Venture until Oaktree has received aggregate distributions in an amount necessary to provide Oaktree with the greater of a 17% internal rate of return on its capital contribution and a 1.5 equity multiple on its capital contribution. Distributions will then be 17.5% to GPP and the balance to the Company, GPP and Oaktree pro rata in proportion to each SGO MN Member’s respective ownership interests in the SGO MN Joint Venture until Oaktree has received aggregate distributions in an amount necessary to provide Oaktree with the greater of a 22% internal rate of return on its capital contribution and a 1.75 equity multiple on its capital contribution (the “Promoted Returns”). Distributions will then be 25% to GPP and the balance to the Company, GPP and Oaktree pro rata in proportion to each SGO MN Member’s respective ownership interests in the SGO MN Joint Venture. The portion of the Promoted Returns payable to GPP are referred to herein as the “GPP Incentive Fee.” As a part of the negotiations for the SGO MN Joint Venture, Glenborough agreed to certain reduced property management and related charges payable by the SGO MN Joint Venture; the GPP Incentive Fee was implemented in order to provide GPP and its affiliates with an opportunity to recoup those reductions should the SGO MN Joint Venture assets perform well financially. The following table summarizes the Company’s investments in unconsolidated joint ventures as of December 31, 2019 and December 31, 2018 (amounts in thousands): Ownership Interest Investment Joint Venture Date of Investment Date of Sale December 31, December 31, December 31, December 31, SGO Retail Acquisitions Venture, LLC 3/11/2015 12/27/2019 — % 19 % $ — $ 1,128 SGO MN Retail Acquisitions Venture, LLC 9/30/2015 12/27/2019 — % 10 % — 1,573 Total $ — $ 2,701 Year Ended December 31, December 31, Equity in income of unconsolidated joint ventures $ 27 $ 229 A summary of the aggregate balance sheets and results of operations of the SGO Joint Venture and the SGO MN Joint Venture is presented below (amounts in thousands): December 31, 2019 2018 ASSETS Investments in real estate, net $ 52,551 $ 51,944 Other assets 3,177 3,123 Assets held for sale 6,814 9,361 Total assets $ 62,542 $ 64,428 LIABILITIES AND MEMBERS’ CAPITAL Notes payable $ 34,693 $ 34,441 Other liabilities 1,498 2,224 Liabilities held for sale 5,336 6,094 Total liabilities 41,527 42,759 Members’ capital 21,015 21,669 Total liabilities and members’ capital $ 62,542 $ 64,428 Year Ended December 31, 2019 2018 RESULTS OF OPERATIONS Revenue $ 8,080 $ 8,688 Expenses (8,246 ) (8,893 ) Operating loss (166 ) (205 ) Other income 739 2,867 Net income $ 573 $ 2,662 The Company’s off-balance sheet arrangements consisted primarily of investments in the joint ventures as set forth in the table above. The joint ventures typically fund their cash needs through secured debt financings obtained by and in the name of the joint venture entity. The joint ventures’ debts are secured by a first mortgage, are without recourse to the joint venture members, and do not represent a liability of the members other than carve-out guarantees for certain matters such as environmental conditions, misuse of funds and material misrepresentations. As of December 31, 2018, the Company provided carve-out guarantees in connection with the two unconsolidated joint ventures; in connection with those carve-out guarantees the Company has certain rights of recovery from the joint venture partners. As of December 31, 2019 , post the sale of the Company’s interests in the two unconsolidated joint ventures, referenced above, the Company continues to provide carve-out guarantees in connection with these joint ventures, and have retained certain rights of recovery, as described above.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company has variable interests in, and is the primary beneficiary of, variable interest entities (“VIEs”) through its investments in (i) the Sunset & Gardner Joint Venture (formerly known as Gelson’s Joint Venture) and (ii) the 3032 Wilshire Joint Venture. The Company has consolidated the accounts of these variable interest entities. Sunset & Gardner Joint Venture On January 7, 2016, the Company, through wholly-owned subsidiaries, entered into the Limited Liability Company Agreement of Sunset & Gardner Investors, LLC (the “Sunset & Gardner Joint Venture Agreement”) to form a joint venture (the” Sunset & Gardner Joint Venture”) with Sunset & Gardner LA, LLC (“S&G LA” and, together with the Company, the “Sunset & Gardner Members”), a subsidiary of Cadence Capital Investments, LLC (“Cadence”). The Sunset & Gardner Joint Venture Agreement provides for the ownership and operation of certain real property by the Sunset & Gardner Joint Venture, in which the Company owns a 100% capital interest and a 50% profits interest. In exchange for ownership in the Sunset & Gardner Joint Venture, the Company contributed cash in an amount of $5.3 million in initial capital contributions and has agreed to contribute a minimum of $0.7 million in subsequent capital contributions to the Sunset & Gardner Joint Venture. S&G LA contributed its rights to acquire the real property and agreed to provide certain management and development services. On January 28, 2016, the Sunset & Gardner Joint Venture used the capital contributions of the Company, together with the proceeds of a loan in the amount of $10.7 million , to purchase property located at the corner of Sunset Boulevard and Gardner in Hollywood, California from a third party seller, for a total purchase price of approximately $13.0 million . Pursuant to the Sunset & Gardner Joint Venture Agreement, S&G LA manages and conducts the day-to-day operations and affairs of the Sunset & Gardner Joint Venture, subject to certain major decisions set forth in the Sunset & Gardner Joint Venture Agreement that require the consent of all the Sunset & Gardner Members. The Company has the power to direct the activities of the Sunset & Gardner Joint Venture through its approval process of the activities that most significantly impact the economic performance of the Sunset & Gardner Joint Venture. Such activities include the budgeting, leasing, financings, and ultimately, the sale of the property. Income, losses and distributions are generally allocated based on the Sunset & Gardner Members’ respective capital and profits interests. Through the Company’s commitment to contribute 100% of capital to develop and operate the property through the life of the Sunset & Gardner Joint Venture, the Company has an obligation to absorb losses of the Sunset & Gardner Joint Venture. Additionally, in certain circumstances described in the Sunset & Gardner Joint Venture Agreement, the Company may be required to make additional capital contributions to the Joint Venture, in proportion to the Sunset & Gardner Members’ respective ownership interests. Until the Company has received back its capital contribution and specified preferred returns, all distributions go to the Company; thereafter, the Sunset & Gardner Joint Venture will distribute the profits 50% to the Company and 50% to S&G LA. Additionally, the Company has the ability to buy out S&G LA upon certain conditions per the Operating Agreement. Through December 31, 2019, the Company made additional capital contributions totaling $6.2 million to the Sunset & Gardner Joint Venture. 3032 Wilshire Joint Venture On December 21, 2015, the Company, through wholly-owned subsidiaries, entered into the Limited Liability Company Agreement of 3032 Wilshire Investors, LLC (the “Wilshire Joint Venture Agreement”) to form a joint venture (the “Wilshire Joint Venture”) with 3032 Wilshire SM, LLC, a subsidiary of Cadence (together with the Company, the “Wilshire Members”). On December 14, 2015, and January 5, 2016, the Company paid deposits in the amounts of $0.5 million and $0.1 million , respectively, toward the acquisition of certain property located at 3032 Wilshire Boulevard and 1210 Berkeley Street in Santa Monica, California (the “Wilshire Property”). On March 7, 2016, the Company contributed $5.7 million to the Wilshire Joint Venture. The Wilshire Joint Venture Agreement provides for the ownership and operation of certain real property by the Wilshire Joint Venture, in which the Company owns a 100% capital interest and a 50% profits interest. On March 8, 2016, the Wilshire Joint Venture used the deposits and capital contribution of the Company, together with the proceeds of a loan in the amount of $8.5 million , to acquire the Wilshire Property from a third-party seller, for a total purchase price of $13.5 million . The Wilshire Joint Venture is repositioning, and intends to re-lease, the existing improvements on the property. Pursuant to the Wilshire Joint Venture Agreement, 3032 Wilshire SM manages and conducts the day-to-day operations and affairs of the Wilshire Joint Venture, subject to certain major decisions set forth in the Wilshire Joint Venture Agreement that require the consent of all the Wilshire Members. The Company has the power to direct the activities of the Wilshire Joint Venture through its approval process of the activities that most significantly impact the economic performance of the Wilshire Joint Venture. Such activities include the budgeting, leasing, financings, and ultimately, the sale of the property. Income, losses and distributions are generally allocated based on the Wilshire Members’ respective capital and profits interests. Through the Company’s commitment to contribute 100% of capital to develop and operate the property through the life of the Wilshire Joint Venture, the Company has an obligation to absorb losses of the Wilshire Joint Venture. Additionally, in certain circumstances described in the Wilshire Joint Venture Agreement, the Company may be required to make additional capital contributions to the Wilshire Joint Venture, in proportion to the Wilshire Members’ respective ownership interests. Until the Company has received back its capital contribution and specified preferred returns, all distributions go to the Company; thereafter, the Wilshire Joint Venture will distribute the profits 50% to the Company and 50% to 3032 Wilshire SM. Additionally, the Company has the ability to buy out 3032 Wilshire SM upon certain conditions per the Operating Agreement. Through December 31, 2019, the Company made additional capital contributions totaling $8.1 million to the Wilshire Joint Venture. The following reflects the aggregate assets and liabilities of the Sunset & Gardner Joint Venture and the Wilshire Joint Venture, which were consolidated by the Company, as of December 31, 2019 and December 31, 2018 (amounts in thousands): December 31, 2019 2018 ASSETS Properties under development and development costs: Land $ 25,851 $ 25,851 Buildings 554 570 Development costs 20,813 13,813 Properties under development and development costs 47,218 40,234 Cash, cash equivalents and restricted cash 2,154 276 Prepaid expenses and other assets, net 7 9 Lease intangibles, net 4 4 TOTAL ASSETS (1) $ 49,383 $ 40,523 LIABILITIES Notes payable, net (2) $ 16,713 $ 17,166 Accounts payable and accrued expenses 1,702 132 Amounts due to affiliates 111 8 Other liabilities 5 9 TOTAL LIABILITIES $ 18,531 $ 17,315 (1) The assets of the Sunset & Gardner Joint Venture and Wilshire Joint Venture can be used only to settle obligations of the respective consolidated joint ventures. (2) As of December 31, 2019 and December 31, 2018 , includes reclassification of approximately $0.5 million and $0.3 million , respectively, of deferred financing costs, net, as a contra-liability. The creditors of the consolidated joint ventures do not have recourse to the general credit of the Company. The notes payable of the Wilshire Joint Venture is partially guaranteed by the Company, refer to Note 8, “Notes Payable, Net”. The notes payable of the Sunset & Gardner Joint Venture is not guaranteed by the Company.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2019
Operating Leases, Future Minimum Payments Receivable [Abstract]
FUTURE MINIMUM RENTAL INCOME	LEASES Operating Leases The Company’s real estate properties are leased to tenants under operating leases for which the terms and expirations vary. As of December 31, 2019 , the leases at the Company’s properties, excluding properties classified as held for sale, have remaining terms (excluding options to extend) of up to 11.9 years with a weighted-average remaining term (excluding options to extend) of approximately 6.8 years . The leases may have provisions to extend the lease agreements, options for early termination after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. Generally, upon the execution of a lease, the Company requires security deposits from tenants in the form of a cash deposit and/or a letter of credit. Amounts required as security deposits vary depending upon the terms of the respective leases and the creditworthiness of the tenant, but generally are not significant amounts. Therefore, exposure to credit risk exists to the extent that a receivable from a tenant exceeds the amount of its security deposit. Security deposits received in cash related to tenant leases are included in other liabilities in the accompanying condensed consolidated balance sheets and totaled approximately $0.2 million as of both December 31, 2019 and December 31, 2018 . The following table presents the components of income from real estate operations for the three and nine months ended December 31, 2019 (amounts in thousands): Year Ended Lease income - operating leases $ 2,983 Variable lease income (1) 909 Rental and reimbursements income $ 3,892 (1) Primarily includes tenant reimbursements for real estate taxes, insurance and common area maintenance. As of December 31, 2019 , the future minimum rental income from the Company’s properties under non-cancelable operating leases, excluding properties classified as held for sale, was as follows (amounts in thousands): 2020 $ 1,957 2021 1,952 2022 1,966 2023 1,989 2024 1,939 Thereafter 5,595 Total $ 15,398

LEASE INTANGIBLES AND BELOW-MAR

LEASE INTANGIBLES AND BELOW-MARKET LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2019
Finite-Lived Intangible Assets, Net [Abstract]
ACQUIRED LEASE INTANGIBLES AND BELOW-MARKET LEASE LIABILITIES	LEASE INTANGIBLES AND BELOW-MARKET LEASE LIABILITIES, NET As of December 31, 2019 and December 31, 2018 , the Company’s acquired lease intangibles and below-market lease liabilities, excluding intangibles and below-market lease liabilities classified as held for sale, were as follows (amounts in thousands): Lease Intangibles Below-Market Lease Liabilities December 31, December 31, December 31, December 31, Cost $ 2,084 $ 3,030 $ (492 ) $ (526 ) Accumulated amortization (763 ) (1,140 ) 196 156 Total $ 1,321 $ 1,890 $ (296 ) $ (370 ) The Company’s amortization of lease intangibles and below-market lease liabilities for the three and nine months ended December 31, 2019 and 2018 , were as follows (amounts in thousands): Lease Intangibles Below-Market Lease Liabilities Year Ended Year Ended 2019 2018 2019 2018 Amortization $ (329 ) $ (402 ) $ 62 $ 67 The scheduled future amortization of lease intangibles and below-market lease liabilities, excluding intangibles and below-market lease liabilities classified as held for sale, as of December 31, 2019 , was as follows (amounts in thousands): Lease Intangibles Below-Market Lease Intangibles 2020 $ 220 $ (50 ) 2021 186 (34 ) 2022 185 (34 ) 2023 182 (34 ) 2024 173 (34 ) Thereafter 375 (110 ) Total $ 1,321 $ (296 )

NOTES PAYABLE, NET

NOTES PAYABLE, NET	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE, NET Multi-Property Secured Financing On December 24th, the Company entered into a Loan Agreement (the “SRT Loan Agreement”) with PFP Holding Company, LLC (the “SRT Lender”) for a non-recourse secured loan (the “SRT Loan”). The SRT Loan is secured by first deeds of trust on the Company’s five San Francisco assets (Fulton Shops, 8 Octavia, 400 Grove, 450 Hayes and 388 Fulton Street) as well as the Company’s Silverlake Collection located in Los Angeles. Proceeds from the SRT Loan were used by the Company to pay down the Company’s credit facility and in connection with such payment, the properties referenced above were released from liens related to that credit facility. The SRT Loan matures on January 9, 2023 . The Company has an option to extend the term of the loan for two additional twelve-month periods, subject to the satisfaction of certain covenants and conditions contained in the SRT Loan Agreement. The Company has the right to prepay the SRT Loan in whole at any time or in part from time to time, subject to the payment of yield maintenance payments if such prepayment occurs in the first 18 months of the loan term, calculated through the 18th monthly payment date, as well as certain expenses, costs or liabilities potentially incurred by the SRT Lender as a result of the prepayment and subject to certain other conditions contained in the loan documents. Individual properties may be released from the SRT Loan collateral in connection with bona fide third-party sales, subject to compliance with certain covenants and conditions contained in the SRT Loan Agreement. Any prepayment or repayment on or before the first 12 months of the loan term in connection with a bona fide third-party sale of a property securing the SRT Loan shall only require the payment of yield maintenance payments calculated through the 12th monthly payment date. As of December 31, 2019 , the SRT Loan had a principal balance of approximately $18.0 million . The SRT Loan is a floating LIBOR rate loan which bears interest at 30-day LIBOR (with a floor of 1.50% ) plus 2.80% . The default rate is equal to 5% above the rate that otherwise would be in effect. Monthly payments are interest-only with the entire principal balance and all outstanding interest due at maturity. Pursuant to the SRT Loan, the Company must comply with certain matters contained in the loan documents including but not limited to, (i) requirements to deliver audited and unaudited financial statements, SEC filings, tax returns, pro forma budgets, and quarterly compliance certificates, and (ii) minimum limits on the Company’s liquidity and tangible net worth. The SRT Loan contains customary covenants, including, without limitation, covenants with respect to maintenance of properties and insurance, compliance with laws and environmental matters, covenants limiting or prohibiting the creation of liens, and transactions with affiliates. At December 31, 2019 , the Company was in compliance with the covenants in effect as of that date. In connection with the SRT Loan, the Company executed customary non-recourse carveout and environmental guaranties, together with limited additional assurances with regard to the condominium structures of the San Francisco assets. Line of Credit The Company’s line of credit is a revolving credit facility with an initial maximum aggregate commitment of $30.0 million . Effective February 15, 2017, the Company’s line of credit was refinanced to increase the maximum aggregate commitment under the credit facility from $30.0 million to $60.0 million . The credit facility matures on February 15, 2020 . Each loan made pursuant to the credit facility will be either a LIBOR loan or a base rate loan, at the election of the Company, plus an applicable margin, as defined. Monthly payments are interest only with the entire principal balance and all outstanding interest due at maturity. The Company will pay the lender an unused commitment fee, quarterly in arrears, which will accrue at 0.30% per annum, if the usage under the Company’s line of credit is less than or equal to 50% of the line of credit amount, and 0.20% per annum if the usage under the Company’s line of credit is greater than 50% of the line of credit amount. The Company is providing a guaranty of all of its obligations under the Company’s line of credit. Effective November 7, 2019, the Company elected to permanently reduce the maximum aggregate commitment under its line of credit from $60.0 million to $30.0 million . All other terms of the credit facility remain the same. As of December 31, 2019 , the Company’s line of credit had an outstanding principal balance of approximately $8.9 million . This entire balance has been classified as held for sale as of December 31, 2019 . As of December 31, 2018, the Company’s line of credit had an outstanding principal balance of $17.4 million . As of December 31, 2019 , the Company’s line of credit was secured by Topaz Marketplace and The Shops at Turkey Creek. As of December 31, 2018, the Company’s line of credit was secured by Topaz Marketplace, 8 Octavia Street, 400 Grove Street, the Fulton Shops, 450 Hayes, 388 Fulton, Silver Lake, and The Shops at Turkey Creek. Refer to Note 14. “Subsequent Events”, for subsequent payoff of the Company’s line of credit. Loans Secured by Properties Under Development On May 7, 2019, the Company refinanced and repaid its financing from Loan Oak Fund, LLC (outstanding balance of $8.8 million at the time of refinancing) with a new construction loan from ReadyCap Commercial, LLC (the “Lender”) (the “Wilshire Construction Loan”). As of December 31, 2019 , the Wilshire Construction Loan had a principal balance of approximately $8.5 million , with future funding availability up to a total of approximately $13.9 million , and bears an interest rate of 1-month LIBOR plus an interest margin of 4.25% per annum, payable monthly. The Wilshire Loan is scheduled to mature on May 10, 2022 , with options to extend for two additional twelve-month periods, subject to certain conditions as stated in the loan agreement. The Wilshire Construction Loan is secured by a first Deed of Trust on the property. The Company executed a guaranty that guaranties that the loan interest reserve amounts are kept in compliance with the terms of the loan agreement. The Lender also required that a principal in the upstream owner of the Company’s joint venture partner in the Wilshire Joint Venture (the “Guarantor”), guarantees performance of borrower’s obligations under the loan agreement with respect to the completion of capital improvements to the property. The Company executed an Indemnity Agreement in favor of the Guarantor against liability under that completion guaranty except to the extent caused by gross negligence or willful misconduct, as well as for liabilities incurred under the Environmental Indemnity Agreement executed by the Guarantor in favor of the Lender. The Company used working capital funds of approximately $3.1 million to repay the difference between the Wilshire Construction Loan initial advance and the prior loan, to pay transaction costs, as well as to fund certain required interest and construction reserves. On October 29, 2018, the Company refinanced and repaid its financing with a new loan from Lone Oak Fund, LLC (the “Sunset & Gardner Loan”). The Sunset & Gardner Loan has a principal balance of approximately $8.7 million , and bears an interest rate of 6.9% per annum. The Sunset & Gardner Loan was scheduled to mature on October 31, 2019 . The Company extended the Sunset & Gardner Loan for an additional twelve month period under the same terms. The new maturity date is October 31, 2020 . The Sunset & Gardner Loan is secured by a first Deed of Trust on the property. The following is a schedule of future principal payments for all of the Company’s notes payable outstanding as of December 31, 2019 (amounts in thousands): 2020 $ 17,627 2021 — 2022 8,495 2023 18,000 Total (1) $ 44,122 (1) Total future principal payments reflect actual amounts due to creditors, and excludes reclassification of $1.3 million deferred financing costs, net. During the year ended December 31, 2019 , the Company incurred and expensed approximately $0.7 million of interest costs, which primarily consisted of amortization of deferred financing costs. During the year ended December 31, 2018 , the Company incurred and expensed approximately $0.9 million of interest costs, which included the amortization of deferred financing costs of approximately $0.6 million . Also during the years ended December 31, 2019 and 2018 , the Company incurred and capitalized approximately $2.7 million and $3.5 million , respectively, of interest expense related to the variable interest entities, which included amortization of deferred financing costs of approximately $0.4 million and $0.3 million , respectively, for each period. As of both December 31, 2019 and December 31, 2018 , interest expense payable was approximately $0.2 million , including an amount related to the variable interest entities of approximately $0.1 million , for each period.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES The Company believes the total carrying values reflected on its consolidated balance sheets for cash, cash equivalents and restricted cash, accounts receivable, accounts payable and accrued expenses, amounts due to affiliates, mortgage loan and construction loan secured by properties under development, and the Company’s line of credit reasonably approximated their fair values based on their nature, terms, and interest rates that approximate current market rates at December 31, 2019. As part of the Company’s ongoing evaluation of the Company’s real estate portfolio, the Company estimates the fair value of its investments in real estate by obtaining outside independent appraisals on all of the operating properties. The appraised values are compared with the carrying values of its real estate portfolio to determine if there are indications of impairment. For both the years ended December 31, 2019 and 2018 , the Company did not record any impairment losses.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
EQUITY	EQUITY Common Stock Under the Company’s Articles of Amendment and Restatement (the “Charter”), the Company has the authority to issue 400,000,000 shares of common stock. All shares of common stock have a par value of $0.01 per share. On February 7, 2013, the Company terminated the Offering and ceased offering its securities. The Company sold 10,688,940 shares of common stock in its primary offering for gross operating proceeds of $104.7 million , 391,182 shares of common stock under the distribution reinvestment plan (“DRIP”) for gross offering proceeds of $3.6 million , granted 50,000 shares of restricted stock and issued 273,729 common shares to pay a portion of a special distribution on November 4, 2015. Cumulatively, through December 31, 2019 , pursuant to the Original Share Redemption Program and the Amended and Restated Share Redemption Program (the “SRP”), the Company has redeemed 858,551 shares sold in the Offering and/or the DRIP for $6.0 million . Common Units of the OP On May 26, 2011, in connection with the acquisition of Pinehurst Square East, a retail property located in Bismarck, North Dakota, the OP issued 287,472 Common Units to certain of the sellers of Pinehurst Square East who elected to receive Common Units for an aggregate value of approximately $2.6 million , or $9.00 per Common Unit. On March 12, 2012, in connection with the acquisition of Turkey Creek, a retail property located in Knoxville, Tennessee, the OP issued 144,324 Common Units to certain of the sellers of Turkey Creek who elected to receive Common Units for an aggregate value of approximately $1.4 million , or $9.50 per Common Unit. During the year ended December 31, 2019 , 17,719 of Common Units were converted into the Company’s common shares for an aggregate basis of approximately $0.1 million . Pursuant to the Advisory Agreement, in April 2014 the Company caused the OP to issue to the Advisor a separate series of limited partnership interests of the OP in exchange for a capital contribution to the OP of $1 thousand (the “Special Units”). The terms of the Special Units entitle the Advisor to (i) 15% of the Company’s net sale proceeds upon disposition of its assets after the Company’s stockholders receive a return of their investment plus a 7% cumulative, non-compounded rate of return or (ii) an equivalent amount in the event that the Company lists its shares of common stock on a national securities exchange or upon certain terminations of the Advisory Agreement after the Company’s stockholders are deemed to have received a return of their investment plus a 7% cumulative, non-compounded rate of return.The holders of Common Units, other than the Company and the holder of the Special Units, generally have the right to cause the OP to redeem all or a portion of their Common Units for, at the Company’s sole discretion, shares of the Company’s common stock, cash or a combination of both. If the Company elects to redeem Common Units for shares of common stock, the Company will generally deliver one share of common stock for each Common Unit redeemed. Holders of Common Units, other than the Company and the holders of the Special Units, may exercise their redemption rights at any time after one year following the date of issuance of their Common Units; provided, however, that a holder of Common Units may not deliver more than two redemption notices in a single calendar year and may not exercise a redemption right for less than 1,000 Common Units, unless such holder holds less than 1,000 Common Units, in which case, it must exercise its redemption right for all of its Common Units. Preferred Stock The Charter authorizes the Company to issue 50,000,000 shares of $0.01 par value preferred stock. As of December 31, 2019 and 2018, no shares of preferred stock were issued and outstanding. Share Redemption Program On April 1, 2015, the Company’s board of directors approved the reinstatement of the share redemption program (which had been suspended since January 15, 2013) and adopted the SRP. Under the SRP, only shares submitted for repurchase in connection with the death or “qualifying disability” (as defined in the SRP) of a stockholder are eligible for repurchase by the Company. Under the current SRP, as amended to date, the number of shares to be redeemed is limited to the lesser of (i) a total of $3.5 million for redemptions sought upon a stockholder’s death and a total of $1.0 million for redemptions sought upon a stockholder’s qualifying disability, and (ii) 5% of the weighted-average number of shares of the Company’s common stock outstanding during the prior calendar year. Share repurchases pursuant to the SRP are made at the sole discretion of the Company. The Company reserves the right to reject any redemption request for any reason or no reason or to amend or terminate the share redemption program at any time subject to the notice requirements in the SRP. The redemption price for shares that are redeemed is 100% of the Company’s most recent estimated net asset value per share as of the applicable redemption date. A redemption request must be made within one year after the stockholder’s death or disability. The SRP provides that any request to redeem less than $5,000 worth of shares will be treated as a request to redeem all of the stockholder’s shares. If the Company cannot honor all redemption requests received in a given quarter, all requests, including death and disability redemptions, will be honored on a pro rata basis. If the Company does not completely satisfy a redemption request in one quarter, it will treat the unsatisfied portion as a request for redemption in the next quarter when funds are available for redemption, unless the request is withdrawn. The Company may increase or decrease the amount of funding available for redemptions under the SRP on ten business days’ notice to stockholders. Shares submitted for redemption during any quarter will be redeemed on the penultimate business day of such quarter. The record date for quarterly distributions has historically been and is expected to continue to be the last business day of each quarter; therefore, shares that are redeemed during any quarter are expected to be redeemed prior to the record date and thus would not be eligible to receive the distribution declared for such quarter. On August 8, 2019, the Company’s board of directors approved an additional $0.3 million of funds for the redemption of shares in connection with the death of a stockholder and $0.2 million of funds for redemption of shares in connection with the disability of a stockholder. The following table summarizes share redemption activity during the years ended December 31, 2019 and 2018 (amounts in thousands, except shares): Year Ended 2019 2018 Shares of common stock redeemed 121,297 125,139 Purchase price $ 722 $ 762 As stated above, cumulatively, through December 31, 2019 , pursuant to the Original Share Redemption Program and the Amended and Restated SRP, the Company has redeemed 858,551 shares sold in the Offering and/or its dividend reinvestment plan for $6.0 million . Quarterly Distributions In order to qualify as a REIT, the Company is required to distribute at least 90% of its annual REIT taxable income, subject to certain adjustments, to its stockholders. Some or all of the Company’s distributions have been paid, and in the future may continue to be paid from sources other than cash flows from operations. Under the terms of the amended credit facility, the Company may pay distributions to its investors so long as the total amount paid does not exceed 100% of the cumulative Adjusted Funds From Operations plus up to an additional $2.0 million of the Company’s net proceeds from property dispositions, as defined in the amended Company’s line of credit; provided, however, that the Company is not restricted from making any distributions necessary in order to maintain its status as a REIT. The Company’s board of directors evaluates the Company’s ability to make quarterly distributions based on the Company’s operational cash needs. The following tables set forth the quarterly distributions declared to the Company’s common stockholders and Common Unit holders for the years ended December 31, 2019 and 2018 (amounts in thousands, except per share amounts): Distribution Record Date Distribution Payable Date Distribution Per Share of Common Stock / Common Unit Total Common Stockholders Distribution Total Common Unit Holders Distribution Total Distribution First Quarter 2019 3/31/2019 4/30/2019 $ 0.06 $ 651 $ 14 $ 665 Second Quarter 2019 6/30/2019 7/31/2019 0.06 648 14 662 Third Quarter 2019 9/30/2019 10/31/2019 0.06 646 13 659 Fourth Quarter 2019 12/31/2019 1/31/2020 0.02 215 5 220 Total $ 2,160 $ 46 $ 2,206 Distribution Record Date Distribution Payable Date Distribution Per Share of Common Stock / Common Unit Total Common Stockholders Distribution Total Common Unit Holders Distribution Total Distribution First Quarter 2018 3/31/2018 4/30/2018 $ 0.06 $ 659 $ 14 $ 673 Second Quarter 2018 6/30/2018 7/31/2018 0.06 658 14 672 Third Quarter 2018 9/30/2018 10/31/2018 0.06 656 14 670 Fourth Quarter 2018 12/31/2018 1/31/2019 0.06 652 14 666 Total $ 2,625 $ 56 $ 2,681

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE EPS is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed after adjusting the basic EPS computation for the effect of potentially dilutive securities outstanding during the period. The effect of non-vested shares, if dilutive, is computed using the treasury stock method. The Company applies the two-class method for determining EPS as its outstanding shares of non-vested restricted stock are considered participating securities as dividend payments are not forfeited even if the underlying award does not vest. There was no unvested stock as of December 31, 2019 . The Company’s excess of distributions over earnings related to participating securities are shown as a reduction in income (loss) attributable to common stockholders in the Company’s computation of EPS. The following table sets forth the computation of the Company’s basic and diluted earnings per share for the years ended December 31, 2019 and 2018 (amounts in thousands, except shares and per share amounts): Year Ended 2019 2018 Numerator - basic and diluted Net income $ 138 $ 8,327 Net income attributable to non-controlling interests 3 175 Net income attributable to common shares $ 135 $ 8,152 Denominator - basic and diluted Basic weighted average common shares 10,818,686 10,962,716 Common Units (1) — — Diluted weighted average common shares 10,818,686 10,962,716 Earnings per common share - basic and diluted Net earnings attributable to common shares $ 0.01 $ 0.74 (1) The effect of 217,475 convertible Common Units pursuant to the redemption rights outlined in the Company’s registration statement on Form S-11 have not been included as they would not be dilutive.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
Related Party Transaction, Due from (to) Related Party [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS On August 7, 2013, the Company entered into the Advisory Agreement with the Advisor, which has been renewed for successive terms with a current expiration date of August 9, 2020 . The Advisor manages the Company’s business as the Company’s external advisor pursuant to the Advisory Agreement. Pursuant to the Advisory Agreement, the Company will pay the Advisor specified fees for services related to the investment of funds in real estate and real estate-related investments, management of the Company’s investments and for other services. On March 11, 2015, the Company, through a wholly-owned subsidiary, entered into the Limited Liability Company Agreement of SGO Retail Acquisitions Venture, LLC to form the SGO Joint Venture. On September 30, 2015, the Company, through wholly-owned subsidiaries, entered into the Limited Liability Company Agreement of SGO MN Retail Acquisitions Venture, LLC to form the SGO MN Joint Venture. To increase liquidity, in anticipation of the impending maturity of the Company’s line credit in February 2020, on December 27, 2019, the Company entered into the Membership Interest Purchase Agreement with an affiliate of the SGO and SGO MN Joint Ventures and the Advisor. Under the Membership Interest Purchase Agreement, the Company sold and transferred all of its remaining interests in the SGO Joint Venture and SGO MN Joint Venture for a total sales price of approximately $4.2 million . At the time of sale, these joint ventures owned, in aggregate, five properties comprising approximately 494,000 square feet, down from the acquisition size of 18 properties and approximately 1,447,000 square feet. At the request of the Audit Committee of the Board of Directors, the Company received a fairness opinion from a third-party financial advisory and valuation firm that opined that the purchase price was fair to the Company from a financial point of view. After the transfer, Oaktree continues to own an 80% interest in both SGO and SGO MN Joint Ventures and GPP owns a 20% interest in these joint ventures. The Company has no remaining performance obligations following the sale of its interests in these joint ventures. For additional information regarding the SGO Joint Venture and the SGO MN Joint Venture, refer to Note 4. “Investments in Unconsolidated Joint Ventures.” Summary of Related Party Fees The following table sets forth the Advisor related party costs incurred and payable by the Company for the periods presented (amounts in thousands): Incurred Payable as of Year Ended December 31, Expensed 2019 2018 2019 2018 Financing coordination fees $ — $ 30 $ — $ — Asset management fees 647 750 — — Reimbursement of operating expenses 35 164 — — Property management fees 126 269 7 30 Disposition fees 2 336 — — Total $ 810 $ 1,549 $ 7 $ 30 Capitalized Acquisition fees $ 46 $ 60 $ — $ — Leasing fees — 4 — — Legal leasing fees — 39 — — Construction management fees 174 39 111 — Financing coordination fees 179 269 22 — Total $ 399 $ 411 $ 133 $ — Acquisition Fees Under the Advisory Agreement, the Advisor is entitled to receive an acquisition fee equal to 1% of (1) the cost of each investment acquired directly by the Company or (2) the Company’s allocable cost of an investment acquired pursuant to a joint venture, in each case including purchase price, acquisition expenses and any debt attributable to such investments. An acquisition fee is capitalized by the Company when the related transaction does not qualify as a business combination; otherwise an acquisition fee is expensed. Financing Coordination Fees Under the Advisory Agreement, the Advisor is entitled to receive a financing coordination fee equal to 1% of the amount made available and/or outstanding under any (1) financing obtained or assumed, directly or indirectly, by the Company or the OP and used to acquire or originate investments, or (2) the refinancing of any financing obtained or assumed, directly or indirectly, by the Company or the OP. Asset Management Fees Under the Advisory Agreement, the Advisor is entitled to receive an asset management fee equal to a monthly fee of one-twelfth (1/12th) of 0.6% of the higher of (1) aggregate cost on a GAAP basis (before non-cash reserves and depreciation) of all investments the Company owns, including any debt attributable to such investments, or (2) the fair market value of the Company’s investments (before non-cash reserves and depreciation) if the board of directors has authorized the estimate of a fair market value of the Company’s investments; provided, however, that the asset management fee will not be less than $250,000 in the aggregate during any one calendar year. Reimbursement of Operating Expenses The Company reimburses the Advisor for all expenses paid or incurred by the Advisor in connection with the services provided to the Company, subject to the limitation that the Company will not reimburse the Advisor for any amount by which the Company’s total operating expenses (including the asset management fee described below) at the end of the four preceding fiscal quarters exceeded the greater of (1) 2% of its average invested assets (as defined in the Company’s Articles of Amendment and Restatement (the “Charter”)); or (2) 25% of its net income (as defined in the Charter) determined without reduction for any additions to depreciation, bad debts or other similar non-cash expenses and excluding any gain from the sale of the Company’s assets for that period (the “2%/25% Guideline”). The Advisor is required to reimburse the Company quarterly for any amounts by which total operating expenses exceed the 2%/25% Guideline in the previous expense year that the independent directors do not approve. The Company will not reimburse the Advisor for any of its personnel costs or other overhead costs except for customary reimbursements for personnel costs under property management agreements entered into between the OP and the Advisor or its affiliates. Notwithstanding the above, the Company may reimburse the Advisor for expenses in excess of the 2%/25% Guideline if a majority of the independent directors determine that such excess expenses are justified based on unusual and non-recurring factors. Pursuant to an amendment to the Advisory Agreement entered on August 2, 2018, the board of directors, including a majority of the independent directors identified certain unusual and non-recurring factors that would justify reimbursement to the Advisor of amounts in excess of the 2%/25% Guidelines and confirmed that the Advisor would not be obligated to reimburse the Company for these excess amounts to the extent the excess was caused by such factors. For the years ended December 31, 2019 and 2018 , the Company’s total operating expenses (as defined in the Charter) did not exceed the 2%/25% Guideline. Property Management Fees Under the property management agreements between the Company and Glenborough, Glenborough is entitled to receive property management fees calculated at a maximum of up to 4% of the properties’ gross revenue. The property management agreements with Glenborough have been renewed for an additional 12 months, beginning on August 10, 2019. Property management agreements with Glenborough automatically renew every year, unless expressly terminated. Disposition Fees Under the Advisory Agreement, if the Advisor or its affiliates provide a substantial amount of services, as determined by the Company’s independent directors, in connection with the sale of a real property, the Advisor or its affiliates may be paid disposition fees up to 50% of a customary and competitive real estate commission, but not to exceed 3% of the contract sales price of each property sold. Leasing Fees Under the property management agreements, Glenborough is entitled to receive a separate fee for the leases of new tenants, and for expansions, extensions and renewals of existing tenants in an amount not to exceed the fee customarily charged by similarly situated parties rendering similar services in the same geographic area for similar properties. Legal Leasing Fees Under the property management agreements, Glenborough is entitled to receive a market-based legal leasing fee for the negotiation and production of new leases, renewals, and amendments. Construction Management Fees In connection with the construction or repair in or about a property, the property manager is responsible for coordinating and facilitating the planning and the performance of all construction and is entitled to receive a fee equal to 5% of the hard costs for the project in question. Related-Party Fees Paid by the Unconsolidated Joint Ventures The unconsolidated joint ventures are party to certain agreements with Glenborough for services related to the investment of funds and management of the joint ventures’ investments, as well as the day-to-day management, operation and maintenance of the properties owned by the joint ventures. The joint ventures pay fees to Glenborough for these services. The following table sets forth related-party fees paid by the unconsolidated joint ventures to Glenborough for the periods presented (amounts in thousands): Year Ended 2019 2018 SGO Joint Venture $ 286 $ 247 SGO MN Joint Venture 1,001 727 The related-party amounts consist of property management, asset management, leasing commission, legal leasing, construction management fees and salary reimbursements.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Economic Dependency The Company is dependent on the Advisor and its affiliates for certain services that are essential to the Company, including the identification, evaluation, negotiation, purchase, and disposition of real estate and real estate-related investments, management of the daily operations of the Company’s real estate and real estate-related investment portfolio, and other general and administrative responsibilities. In the event that the Advisor is unable to provide such services to the Company, the Company will be required to obtain such services from other sources. Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. The Company is not aware of any environmental liability that could have a material adverse effect on its condensed consolidated financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities.

SUBSEQUENT EVENTS SUBSEQUENT EV

SUBSEQUENT EVENTS SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS Distributions On December 18, 2019 , the Company’s board of directors declared a fourth quarter distribution in the amount of $0.02 per share/unit to common stockholders and holders of common units of record as of December 31, 2019 . The distribution was paid on January 31, 2020 . Assets Held for Sale On January 10, 2020, the Company, through an indirect subsidiary, entered into a Purchase and Sale Agreement with an unrelated third party purchaser (the “Purchaser”) for the sale of a retail property located in Knoxville, Tennessee (“Shops at Turkey Creek”). The contractual sale price for Shops at Turkey Creek is approximately $5.2 million . Pursuant to the Purchase and Sale Agreement, the Purchaser would be obligated to purchase the property and the Company would be obligated to sell the property only after satisfaction of agreed upon closing conditions. There can be no assurance that the Company will complete the sale. As a result of the executed Purchase and Sales Agreement, Shops at Turkey Creek was classified as held for sale in the consolidated balance sheets as of January 31, 2020. Sale of Property On February 10, 2020, the Company consummated the disposition of a significant portion of Topaz Marketplace, located in Hesperia, California, for approximately $10.5 million in cash. The Company used the net proceeds from the sale to repay the line of credit in its entirety. The disposition of Topaz Marketplace resulted in a gain of $1.0 million , which was included in the Company’s consolidated statement of operations. Line of Credit Effective January 8, 2020, the Company elected to permanently reduce the maximum aggregate commitment under its line of credit from $30.0 million to $10.5 million . All other terms of the credit facility remained the same. The line of credit expired of its own accord on February 15, 2020, with no balance outstanding. As part of the payoff, Shops at Turkey Creek was released from the line of credit.

SCHEDULE III - REAL ESTATE OPER

SCHEDULE III - REAL ESTATE OPERATING PROPERTIES AND ACCUMULATED DEPRECIATION SCHEDULE III - REAL ESTATE OPERATING PROPERTIES AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]	STRATEGIC REALTY TRUST, INC. AND SUBSIDIARIES SCHEDULE III — REAL ESTATE OPERATING PROPERTIES AND ACCUMULATED DEPRECIATION December 31, 2019 (amounts in thousands) Initial Cost to Company Cost Capitalized Subsequent to Acquisition (1) Gross Amount of Which Carried at Close of Period Life on which Depreciation in Latest Statement of Operations is Computed (3) Land Building & Improvements Land Building & Improvements Total (2) Accumulated Depreciation Acquisition Date Shops at Turkey Creek $ 1,416 $ 2,398 $ (32 ) $ 1,416 $ 2,366 $ 3,782 $ (601 ) 12/3/2012 5-30 400 Grove Street 1,009 1,813 — 1,009 1,813 2,822 (212 ) 5/16/2012 5-30 8 Octavia Street 728 1,847 84 728 1,931 2,659 (244 ) 6/14/2016 5-30 Fulton Shops 1,187 3,254 — 1,187 3,254 4,441 (412 ) 6/14/2016 5-30 450 Hayes 2,324 5,009 367 2,324 5,376 7,700 (576 ) 12/22/2016 5-30 388 Fulton 1,109 2,943 319 1,112 3,259 4,371 (379 ) 01/04/2017 5-30 Silver Lake 5,747 6,646 364 5,760 6,997 12,757 (884 ) 01/11/2017 5-30 Total $ 13,520 $ 23,910 $ 1,102 $ 13,536 $ 24,996 $ 38,532 $ (3,308 ) (1) The cost capitalized subsequent to acquisition may include negative balances resulting from the write-off and impairment of real estate assets, and parcel sales. (2) The aggregate net tax basis of land and buildings, excluding properties held for sale, for federal income tax purposes is $36.7 million . (3) Buildings and building improvements are depreciated over their useful lives as shown. Tenant improvements are amortized over the life of the related lease, which with our current portfolio can vary from 1 year to over 15 years. (in thousands) Year Ended December 31, 2019 2018 Real Estate: Balance at the beginning of the year $ 48,393 $ 46,033 Improvements 683 769 Dispositions — (22,366 ) Balances associated with changes in reporting presentation (1) (10,544 ) 23,957 Balance at the end of the year $ 38,532 $ 48,393 Accumulated Depreciation: Balance at the beginning of the year $ 3,917 $ 2,579 Depreciation expense 1,100 1,205 Dispositions — (5,045 ) Balances associated with changes in reporting presentation (1) (1,709 ) 5,178 Balance at the end of the year $ 3,308 $ 3,917 (1) The balances associated with changes in reporting presentation represent real estate and accumulated depreciation reclassified as assets held for sale. See accompanying report of independent registered public accounting firm.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-K and Regulation S-X. The consolidated financial statements include the accounts of the Company, the OP, their direct and indirect owned subsidiaries, and the accounts of joint ventures that are determined to be variable interest entities for which the Company is the primary beneficiary. All significant intercompany balances and transactions are eliminated in consolidation. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the Company’s consolidated financial position, results of operations and cash flows have been included. The Company evaluates the need to consolidate joint ventures and variable interest entities based on standards set forth in ASC Topic 810, Consolidation (“ASC 810”). In determining whether the Company has a controlling interest in a joint venture or a variable interest entity and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the partners/members, as well as whether the entity is a variable interest entity for which the Company is the primary beneficiary. As of December 31, 2018 , the Company held ownership interests in two unconsolidated joint ventures. During 2019, the Company sold its interests in these unconsolidated joint ventures. Refer to Note 4. “Investments in Unconsolidated Joint Ventures” for additional information. As of December 31, 2019 and December 31, 2018 , the Company held variable interests in two variable interest entities and consolidated those entities. Refer to Note 5. “Variable Interest Entities” for additional information.
NonControllingInterestsPolicyTextBlockPolicyTextBlock [Policy Text Block]	Non-Controlling Interests The Company’s non-controlling interests are comprised of common units in the OP (“Common Units”). The Company accounts for non-controlling interests in accordance with ASC 810. In accordance with ASC 810, the Company reports non-controlling interests in subsidiaries within equity in the consolidated financial statements, but separate from stockholders’ equity. Net income attributable to non-controlling interests is presented as a reduction from net income in calculating net income attributable to common stockholders on the consolidated statement of operations. Acquisitions or dispositions of non-controlling interests that do not result in a change of control are accounted for as equity transactions. In addition, ASC 810 requires that a parent company recognize a gain or loss in the Company’s results of operations when a subsidiary is deconsolidated upon a change in control. In accordance with ASC 480-10, Distinguishing Liabilities from Equity , non-controlling interests that are determined to be redeemable are carried at their fair value or redemption value as of the balance sheet date and reported as liabilities or temporary equity depending on their terms. The Company periodically evaluates individual non-controlling interests for the ability to continue to recognize the non-controlling interest as permanent equity in the consolidated balance sheets. Any non-controlling interest that fails to qualify as permanent equity will be reclassified as liabilities or temporary equity. All non-controlling interests at December 31, 2019 and 2018, qualified as permanent equity.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the Company’s consolidated financial statements requires significant management judgments, assumptions and estimates about matters that are inherently uncertain. These judgments affect the reported amounts of assets and liabilities and the Company’s disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. With different estimates or assumptions, materially different amounts could be reported in the Company’s consolidated financial statements, and actual results could differ from the estimates or assumptions used by management. Additionally, other companies may utilize different estimates that may impact the comparability of the Company’s consolidated results of operations to those of companies in similar businesses. The Company considers significant estimates to include the carrying amounts and recoverability of investments in real estate, impairments, real estate acquisition purchase price allocations, allowance for doubtful accounts, estimated useful lives to determine depreciation and amortization and fair value determinations, among others.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents represent current bank accounts and other bank deposits free of encumbrances and having maturity dates of three months or less from the respective dates of deposit. The Company limits cash investments to financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk in cash. Restricted cash includes escrow accounts for real property taxes, insurance, capital expenditures and tenant improvements, debt service and leasing costs held by lenders. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the consolidated balance sheets that sum to the total of the same such amounts shown on the consolidated statement of cash flows (amounts in thousands): December 31, 2019 December 31, 2018 Cash and cash equivalents $ 6,119 $ 3,347 Restricted cash 1,122 — Total cash, cash equivalents, and restricted cash $ 7,241 $ 3,347
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Revenues include minimum rents, expense recoveries and percentage rental payments. Minimum rents are recognized on an accrual basis over the terms of the related leases on a straight-line basis when collectability is reasonably assured and the tenant has taken possession or controls the physical use of the leased property. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. For leases with minimum scheduled rent increases, the Company recognizes income on a straight-line basis over the lease term when collectability is reasonably assured. Recognizing rental income on a straight-line basis for leases results in recognized revenue amounts which differ from those that are contractually due from tenants on a cash basis. If the Company determines the collectability of straight-line rents is not reasonably assured, the Company limits future recognition to amounts contractually owed and paid, and, when appropriate, establishes an allowance for estimated losses. The Company maintains an allowance for doubtful accounts, including an allowance for straight-line rent receivables, for estimated losses resulting from tenant defaults or the inability of tenants to make contractual rent and tenant recovery payments. The Company monitors the liquidity and creditworthiness of its tenants on an ongoing basis. For straight-line rent amounts, the Company’s assessment is based on amounts estimated to be recoverable over the term of the lease. The Company’s straight-line rent receivable (excluding properties held for sale), which is included in tenant receivables, net, on the consolidated balance sheets, was approximately $0.6 million at each December 31, 2019 and 2018. Certain leases contain provisions that require the payment of additional rents based on the respective tenants’ sales volume (contingent or percentage rent) and substantially all contain provisions that require reimbursement of the tenants’ allocable real estate taxes, insurance and common area maintenance costs (“CAM”). Revenue based on percentage of tenants’ sales is recognized only after the tenant exceeds its sales breakpoint. Revenue from tenant reimbursements of taxes, insurance and CAM is recognized in the period that the applicable costs are incurred in accordance with the lease agreement. In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers , which was added to the ASC under Topic 606 (“ASC 606”) (“ASU 2014-09”). ASC 606 outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers. As the Company’s revenues are primarily generated through leasing arrangements, and the Company has elected the lessor practical expedient to not separate common area maintenance and reimbursement of real estate taxes from the associated lease for all existing and new leases under ASC 842, the Company’s revenues fall outside the scope of this standard. As part of ASU 2014-09, ASC 610-20, Gains and Losses from Derecognition of Nonfinancial Assets , (“ASC 610-20”) was issued. ASC 610-20 provided guidance for recognizing gains and losses from the transfer of nonfinancial assets, which includes the sale of real estate. In February 2017, the FASB issued ASU No. 2017-05, Other Income-Gains and Losses for the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”). ASU 2017-05 amends the guidance on nonfinancial assets in ASC 610-20. The amendments clarify that (i) a financial asset is within the scope of ASC 610-20 if it meets the definition of an in-substance nonfinancial asset and may include nonfinancial assets transferred within a legal entity to a counter-party, (ii) an entity should identify each distinct nonfinancial asset or in substance nonfinancial asset promised to a counter-party and de-recognize each asset when a counter-party obtains control of it, and (iii) an entity should allocate consideration to each distinct asset by applying the guidance in ASC 606 on allocating the transaction price to performance obligations. Further, ASU 2017-05 provides guidance on accounting for partial sales of nonfinancial assets. Effective January 1, 2018, the Company applied the provisions of ASC 610-20, for gains on sale of real estate, and recognizes any gains at the time control of a property is transferred and when it is probable that substantially all of the related consideration will be collected. As a result of adopting ASC 610-20, using the modified retrospective method, the sales criteria in ASC 360, Property, Plant, and Equipment , no longer applied. As such, the Company recognized $0.7 million of deferred gains related to sales of properties to the SGO Retail Acquisitions Venture, LLC, through a cumulative effect adjustment to accumulated deficit. Other than the cumulative effect adjustment relating to such deferred gains, the adoption of ASC 606 and ASC 610-20 did not have an impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires entities to recognize lease assets and lease liabilities on the consolidated balance sheet and disclose key information about leasing arrangements. The guidance retains a distinction between finance leases and operating leases. The recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed from previous guidance. However, the principal difference from previous guidance is that the lease assets and lease liabilities arising from operating leases should be recognized in the statement of financial position. The accounting applied by a lessor is largely unchanged from that applied under ASC Topic 840, Leases (“ASC 840”). Lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using the modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply under ASC Topic 842, Leases (“ASC 842”). The amendments in this guidance are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company adopted ASU 2016-02 (as amended by subsequent ASUs) effective January 1, 2019, utilizing the practical expedients described in ASU 2018-11. The Company has elected the lessor practical expedient to not separate common area maintenance and reimbursement of real estate taxes from the associated lease for all existing and new leases as the timing and pattern of payments and associated lease payments are the same. The timing of revenue recognition remains the same for the Company’s existing leases and new leases. Revenues related to the Company’s leases continue to be reported on one line in the presentation within the statement of operations as a result of electing this lessor practical expedient. The Company continues to capitalize its direct leasing costs. These costs are incurred as a result of obtaining new leases, and renewing leases, and are paid to the Company’s Advisor. Additionally, the Company is not a lessee of real estate or equipment, as it is externally managed by its Advisor.
Receivables, Policy [Policy Text Block]	Valuation of Accounts Receivable The Company makes estimates of the collectability of its tenant receivables related to base rents, including deferred rents receivable, expense reimbursements and other revenue or income. The Company analyzes tenant receivables, deferred rent receivable, historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In addition, with respect to tenants in bankruptcy, the Company will make estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, the Company will record a bad debt reserve for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk A concentration of credit risk arises in the Company’s business when a tenant occupies a substantial amount of space in properties owned by the Company or accounts for a substantial amount of annual revenue. In that event, if the tenant suffers a significant downturn in its business, it may become unable to make its contractual rent payments to the Company, exposing the Company to potential losses in rental revenue, expense recoveries, and percentage rent. Generally, the Company does not obtain security deposits from the nationally-based or regionally-based tenants in support of their lease obligations to the Company. The Company regularly monitors its tenant base to assess potential concentrations of credit risk. As of December 31, 2019, in other than the Company’s properties classified as held for sale, Clover Juice, Connor Concepts, Inc., and A Mano each accounted for more than 10% of the Company’s annual minimum rent. As of December 31, 2019, $35 thousand and $10 thousand was outstanding from Clover Juice and A Mano, respectively. There were no amounts outstanding from Connor Concepts, Inc. As of December 31, 2018, Clover Juice, Connor Concepts, Inc., and Western Sizzling each accounted for more than 10% of the Company’s annual minimum rent. As of December 31, 2018, $46 thousand was outstanding from Clover Juice. There were no amounts outstanding from Connor Concepts, Inc., or Western Sizzling.
Segment Reporting, Policy [Policy Text Block]	Reportable Segments ASC 280, Segment Reporting , establishes standards for reporting financial and descriptive information about an enterprise’s reportable segments. The Company has one reportable segment, income-producing retail properties, which consists of activities related to investing in real estate. The retail properties are geographically diversified throughout the United States, and the Company evaluates operating performance on an overall portfolio level.
Property, Plant and Equipment, Policy [Policy Text Block]	Investments in Real Estate The Company applies the provisions of ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”) to account for property acquisitions. ASU No. 2017-01 clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework establishes a screen for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. Evaluation of business combination or asset acquisition: The Company evaluates each acquisition of real estate to determine if the integrated set of assets and activities acquired meet the definition of a business and need to be accounted for as a business combination. If either of the following criteria is met, the integrated set of assets and activities acquired would not qualify as a business: • Substantially all of the fair value of the gross assets acquired is concentrated in either a single identifiable asset or a group of similar identifiable assets; or • The integrated set of assets and activities is lacking, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs (i.e. revenue generated before and after the transaction). An acquired process is considered substantive if: • The process includes an organized workforce (or includes an acquired contract that provides access to an organized workforce), that is skilled, knowledgeable, and experienced in performing the process; • The process cannot be replaced without significant cost, effort, or delay; or • The process is considered unique or scarce. Generally, the Company expects that acquisitions of real estate will not meet the revised definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets), or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. In asset acquisitions, the purchase consideration, including acquisition costs, is allocated to the individual assets acquired and liabilities assumed on a relative fair value basis. As a result, asset acquisitions do not result in the recognition of goodwill or a bargain purchase gain. Depreciation and amortization is computed using a straight-line method over the estimated useful lives of the assets as follows: Years Buildings and improvements 5 - 30 years Tenant improvements 1 - 15 years Tenant improvement costs recorded as capital assets are depreciated over the tenant’s remaining lease term, which the Company has determined approximates the useful life of the improvement. Expenditures for ordinary maintenance and repairs are expensed to operations as incurred. Significant renovations and improvements that improve or extend the useful lives of assets are capitalized. Acquisition costs related to asset acquisitions are capitalized in the consolidated balance sheets.
Real Estate Held for Development and Sale, Policy [Policy Text Block]	Properties Under Development The initial cost of properties under development includes the acquisition cost of the property, direct development costs and borrowing costs directly attributable to the development. Borrowing costs associated with direct expenditures on properties under development are capitalized. The amount of capitalized borrowing costs is determined by reference to borrowings specific to the project, where relevant. Borrowing costs are capitalized from the commencement of the development until the date of practical completion. Practical completion is when the property is capable of operating in the manner intended by management. Capitalization of borrowing costs is suspended if there are prolonged periods when development activity is interrupted. Capitalized costs are reduced by any profits from incidental operations. Interest on projects is based on interest rates in place during the development period, and is capitalized until the project is ready for its intended use. The amount of interest capitalized during the years ended December 31, 2019 and 2018, was approximately $2.7 million and $3.5 million , respectively.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-lived Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its investments in real estate and related intangible assets may not be recoverable. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets through its undiscounted future cash flows (excluding interest) and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the investments in real estate and related intangible assets. Key inputs that the Company estimates in this analysis include projected rental rates, capital expenditures, property sale capitalization rates, and expected holding period of the property. The Company evaluates its equity investments for impairment in accordance with ASC 320, Investments – Debt and Securities (“ASC 320”). ASC 320 provides guidance for determining when an investment is considered impaired, whether impairment is other-than-temporary, and measurement of an impairment loss. The Company continually monitors its properties under development for impairment. Estimates of future cash flows used to test the recoverability of properties under development are based on their expected service potential when development is substantially complete. Those estimates include cash flows associated with all future expenditures necessary to develop the properties under development, including interest payments that will be capitalized as part of the cost of the properties under development. The Company did not record any impairment losses during the years ended December 31, 2019 and 2018.
Assets Held for Sale and Discontinued Operations [Policy Text Block]	Assets Held for Sale and Discontinued Operations When certain criteria are met, long-lived assets are classified as held for sale and are reported at the lower of their carrying value or their fair value, less costs to sell, and are no longer depreciated. Refer to Note 3. “Real Estate Investments” for a discussion of property sales.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements Under GAAP, the Company is required to measure or disclose certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired real estate loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3: prices or valuation techniques where little or no market data is available for inputs that are significant to the fair value measurement. When available, the Company utilizes quoted market prices or other observable inputs (Level 2 inputs), such as interest rates or yield curves, from independent third-party sources to determine fair value and classify such items in Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to use significant judgment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third-party may rely more on models with inputs based on information available only to that independent third party. When the Company determines the market for an asset owned by it to be illiquid or when market transactions for similar instruments do not appear orderly, the Company uses several valuation sources (including internal valuations, discounted cash flow analysis and external appraisals) and establishes a fair value by assigning weights to the various valuation sources. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities when traded as assets; or (ii) a present value technique that considers the future cash flows based on contractual obligations discounted by observed or estimated market rates of comparable liabilities. The use of contractual cash flows with regard to amount and timing significantly reduces the judgment applied in arriving at fair value. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument. The Company considers the following factors to be indicators of an inactive market: (1) there are few recent transactions; (2) price quotations are not based on current information; (3) price quotations vary substantially either over time or among market makers (for example, some brokered markets); (4) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability; (5) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability; (6) there is a wide bid-ask spread or significant increase in the bid-ask spread; (7) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities; and (8) little information is released publicly (for example, a principal-to-principal market). The Company considers the following factors to be indicators of non-orderly transactions: (1) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions; (2) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant; (3) the seller is in or near bankruptcy or receivership (that is, distressed), or the seller was required to sell to meet regulatory or legal requirements (that is, forced); and (4) the transaction price is an outlier when compared with other recent transactions for the same or similar assets or liabilities.
Deferred Charges, Policy [Policy Text Block]	Deferred Financing Costs Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing. These costs are amortized over the terms of the respective financing agreements using the straight-line method which approximates the effective interest method. Unamortized deferred financing costs are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financings that do not close are expensed in the period in which it is determined that the financing will not close. The Company presents deferred financing costs, net of accumulated amortization, as a contra-liability that reduces the carrying amount of the associated note payable, rather than as a deferred asset. Deferred financing costs related to a line-of-credit arrangement are presented on the balance sheet as a deferred asset, regardless of whether there were any outstanding borrowings at period-end.
Equity Method Investments [Policy Text Block]	Accounting for Investments in Unconsolidated Joint Ventures The Company accounts for its investments in unconsolidated joint ventures under the equity method of accounting. Under the equity method of accounting, the Company records its initial investment in a joint venture at cost and subsequently adjusts the cost for the Company’s share of the joint venture’s income or loss and cash contributions and distributions each period. Refer to Note 4. “Investments in Unconsolidated Joint Ventures” for a discussion of the Company’s investments in joint ventures. The Company monitors its investments in unconsolidated joint ventures periodically for impairment. No impairment indicators were identified and no impairment losses were recorded during the years ended December 31, 2019 and 2018. As of December 31, 2019, the Company sold its interests in the unconsolidated joint ventures. Refer to Note 4. “Investments in Unconsolidated Joint Ventures” for more information.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and operates in such a manner as to qualify for treatment as a REIT. Even if the Company qualifies as a REIT, it may be subject to certain state or local income taxes, and to U.S. federal income and excise taxes on its undistributed income. The Company evaluates tax positions taken in the consolidated financial statements under the interpretation for accounting for uncertainty in income taxes. As a result of this evaluation, the Company may recognize a 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 taxing authorities. When necessary, deferred income taxes are recognized in certain taxable entities. Deferred income tax is generally a function of the period’s temporary differences (items that are treated differently for tax purposes than for financial reporting purposes). A valuation allowance for deferred income tax assets is provided if all or some portion of the deferred income tax asset may not be realized. Any increase or decrease in the valuation allowance is generally included in deferred income tax expense. The Company’s tax returns remain subject to examination and consequently, the taxability of the distributions is subject to change.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed after adjusting the basic EPS computation for the effect of potentially dilutive securities outstanding during the period. The effect of non-vested shares, if dilutive, is computed using the treasury stock method. The Company accounts for non-vested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) as participating securities, which are included in the computation of earnings per share pursuant to the two-class method. The Company’s excess of distributions over earnings related to participating securities are shown as a reduction in income (loss) attributable to common stockholders in the Company’s computation of EPS.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The FASB issued the following ASUs, which could have potential impact to the Company’s consolidated financial statements: In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13 modifies the disclosure requirements on fair value measurements in Topic 820. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures upon issuance of ASU 2018-13 and delayed adoption of the additional disclosures until the effective date. The adoption of ASU 2018-13 will not have an impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (“ASU 2016-13”). ASU 2016-13 requires a financial asset, measured at amortized cost basis to be presented at the net amount expected to be collected. ASU 2016-13 was effective for fiscal years beginning after December 15, 2019, with adoption permitted for fiscal years beginning after December 15, 2018. Adjustments resulting from adopting ASU 2016-13 shall be applied through a cumulative-effect adjustment to retained earnings. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) Effective Dates (“ASU 2019-10”). ASU 2019-10 extended the mandatory effective date for smaller reporting companies to beginning after December 15, 2022. The adoption of Financial Instruments - Credit Losses will not have an impact on the Company’s consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract [Abstract]
Cash, Cash Equivalents and Restricted Cash [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the consolidated balance sheets that sum to the total of the same such amounts shown on the consolidated statement of cash flows (amounts in thousands): December 31, 2019 December 31, 2018 Cash and cash equivalents $ 6,119 $ 3,347 Restricted cash 1,122 — Total cash, cash equivalents, and restricted cash $ 7,241 $ 3,347
Property, Plant and Equipment [Table Text Block]	Depreciation and amortization is computed using a straight-line method over the estimated useful lives of the assets as follows: Years Buildings and improvements 5 - 30 years Tenant improvements 1 - 15 years

REAL ESTATE INVESTMENTS REAL _2

REAL ESTATE INVESTMENTS REAL ESTATE INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	The major classes of assets and liabilities related to assets held for sale included in the consolidated balance sheets are as follows (amounts in thousands): December 31, 2019 ASSETS Investments in real estate Land $ 1,680 Building and improvements 7,966 Tenant improvements 898 10,544 Accumulated depreciation (1,709 ) Investments in real estate, net 8,835 Tenant receivables, net 108 Lease intangibles, net 273 Assets held for sale $ 9,216 LIABILITIES Notes payable $ 8,927 Below-market lease intangibles, net 12 Liabilities related to assets held for sale $ 8,939

INVESTMENTS IN UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES (Tables)	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investment in Unconsolidated Joint Ventures	The following table summarizes the Company’s investments in unconsolidated joint ventures as of December 31, 2019 and December 31, 2018 (amounts in thousands): Ownership Interest Investment Joint Venture Date of Investment Date of Sale December 31, December 31, December 31, December 31, SGO Retail Acquisitions Venture, LLC 3/11/2015 12/27/2019 — % 19 % $ — $ 1,128 SGO MN Retail Acquisitions Venture, LLC 9/30/2015 12/27/2019 — % 10 % — 1,573 Total $ — $ 2,701 Year Ended December 31, December 31, Equity in income of unconsolidated joint ventures $ 27 $ 229
Condensed Balance Sheet [Table Text Block]	A summary of the aggregate balance sheets and results of operations of the SGO Joint Venture and the SGO MN Joint Venture is presented below (amounts in thousands): December 31, 2019 2018 ASSETS Investments in real estate, net $ 52,551 $ 51,944 Other assets 3,177 3,123 Assets held for sale 6,814 9,361 Total assets $ 62,542 $ 64,428 LIABILITIES AND MEMBERS’ CAPITAL Notes payable $ 34,693 $ 34,441 Other liabilities 1,498 2,224 Liabilities held for sale 5,336 6,094 Total liabilities 41,527 42,759 Members’ capital 21,015 21,669 Total liabilities and members’ capital $ 62,542 $ 64,428
Condensed Income Statement [Table Text Block]	Year Ended December 31, 2019 2018 RESULTS OF OPERATIONS Revenue $ 8,080 $ 8,688 Expenses (8,246 ) (8,893 ) Operating loss (166 ) (205 ) Other income 739 2,867 Net income $ 573 $ 2,662

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following reflects the aggregate assets and liabilities of the Sunset & Gardner Joint Venture and the Wilshire Joint Venture, which were consolidated by the Company, as of December 31, 2019 and December 31, 2018 (amounts in thousands): December 31, 2019 2018 ASSETS Properties under development and development costs: Land $ 25,851 $ 25,851 Buildings 554 570 Development costs 20,813 13,813 Properties under development and development costs 47,218 40,234 Cash, cash equivalents and restricted cash 2,154 276 Prepaid expenses and other assets, net 7 9 Lease intangibles, net 4 4 TOTAL ASSETS (1) $ 49,383 $ 40,523 LIABILITIES Notes payable, net (2) $ 16,713 $ 17,166 Accounts payable and accrued expenses 1,702 132 Amounts due to affiliates 111 8 Other liabilities 5 9 TOTAL LIABILITIES $ 18,531 $ 17,315 (1) The assets of the Sunset & Gardner Joint Venture and Wilshire Joint Venture can be used only to settle obligations of the respective consolidated joint ventures. (2) As of December 31, 2019 and December 31, 2018 , includes reclassification of approximately $0.5 million and $0.3 million , respectively, of deferred financing costs, net, as a contra-liability. The creditors of the consolidated joint ventures do not have recourse to the general credit of the Company. The notes payable of the Wilshire Joint Venture is partially guaranteed by the Company, refer to Note 8, “Notes Payable, Net”. The notes payable of the Sunset & Gardner Joint Venture is not guaranteed by the Company.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2019
Operating Leased Assets [Line Items]
Operating Lease, Lease Income [Table Text Block]	The following table presents the components of income from real estate operations for the three and nine months ended December 31, 2019 (amounts in thousands): Year Ended Lease income - operating leases $ 2,983 Variable lease income (1) 909 Rental and reimbursements income $ 3,892 (1) Primarily includes tenant reimbursements for real estate taxes, insurance and common area maintenance.
Schedule of Future Minimum Rental Receivable For Operating Leases	As of December 31, 2019 , the future minimum rental income from the Company’s properties under non-cancelable operating leases, excluding properties classified as held for sale, was as follows (amounts in thousands): 2020 $ 1,957 2021 1,952 2022 1,966 2023 1,989 2024 1,939 Thereafter 5,595 Total $ 15,398

LEASE INTANGIBLES AND BELOW-M_2

LEASE INTANGIBLES AND BELOW-MARKET LEASE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Finite-Lived Intangible Assets, Net [Abstract]
Acquired Lease Intangibles and Below Market Lease Liabilities	As of December 31, 2019 and December 31, 2018 , the Company’s acquired lease intangibles and below-market lease liabilities, excluding intangibles and below-market lease liabilities classified as held for sale, were as follows (amounts in thousands): Lease Intangibles Below-Market Lease Liabilities December 31, December 31, December 31, December 31, Cost $ 2,084 $ 3,030 $ (492 ) $ (526 ) Accumulated amortization (763 ) (1,140 ) 196 156 Total $ 1,321 $ 1,890 $ (296 ) $ (370 )
Amortization Of Finite Lease Intangibles and Below-Market Lease Liabilities	The Company’s amortization of lease intangibles and below-market lease liabilities for the three and nine months ended December 31, 2019 and 2018 , were as follows (amounts in thousands): Lease Intangibles Below-Market Lease Liabilities Year Ended Year Ended 2019 2018 2019 2018 Amortization $ (329 ) $ (402 ) $ 62 $ 67
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	The scheduled future amortization of lease intangibles and below-market lease liabilities, excluding intangibles and below-market lease liabilities classified as held for sale, as of December 31, 2019 , was as follows (amounts in thousands): Lease Intangibles Below-Market Lease Intangibles 2020 $ 220 $ (50 ) 2021 186 (34 ) 2022 185 (34 ) 2023 182 (34 ) 2024 173 (34 ) Thereafter 375 (110 ) Total $ 1,321 $ (296 )

NOTES PAYABLE, NET (Tables)

NOTES PAYABLE, NET (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of maturities for notes payable outstanding	The following is a schedule of future principal payments for all of the Company’s notes payable outstanding as of December 31, 2019 (amounts in thousands): 2020 $ 17,627 2021 — 2022 8,495 2023 18,000 Total (1) $ 44,122 (1) Total future principal payments reflect actual amounts due to creditors, and excludes reclassification of $1.3 million deferred financing costs, net.

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Share Redemption Program	The following table summarizes share redemption activity during the years ended December 31, 2019 and 2018 (amounts in thousands, except shares): Year Ended 2019 2018 Shares of common stock redeemed 121,297 125,139 Purchase price $ 722 $ 762
Distributions declared and paid	The following tables set forth the quarterly distributions declared to the Company’s common stockholders and Common Unit holders for the years ended December 31, 2019 and 2018 (amounts in thousands, except per share amounts): Distribution Record Date Distribution Payable Date Distribution Per Share of Common Stock / Common Unit Total Common Stockholders Distribution Total Common Unit Holders Distribution Total Distribution First Quarter 2019 3/31/2019 4/30/2019 $ 0.06 $ 651 $ 14 $ 665 Second Quarter 2019 6/30/2019 7/31/2019 0.06 648 14 662 Third Quarter 2019 9/30/2019 10/31/2019 0.06 646 13 659 Fourth Quarter 2019 12/31/2019 1/31/2020 0.02 215 5 220 Total $ 2,160 $ 46 $ 2,206 Distribution Record Date Distribution Payable Date Distribution Per Share of Common Stock / Common Unit Total Common Stockholders Distribution Total Common Unit Holders Distribution Total Distribution First Quarter 2018 3/31/2018 4/30/2018 $ 0.06 $ 659 $ 14 $ 673 Second Quarter 2018 6/30/2018 7/31/2018 0.06 658 14 672 Third Quarter 2018 9/30/2018 10/31/2018 0.06 656 14 670 Fourth Quarter 2018 12/31/2018 1/31/2019 0.06 652 14 666 Total $ 2,625 $ 56 $ 2,681

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Company's basic and diluted (loss)earnings per share	The following table sets forth the computation of the Company’s basic and diluted earnings per share for the years ended December 31, 2019 and 2018 (amounts in thousands, except shares and per share amounts): Year Ended 2019 2018 Numerator - basic and diluted Net income $ 138 $ 8,327 Net income attributable to non-controlling interests 3 175 Net income attributable to common shares $ 135 $ 8,152 Denominator - basic and diluted Basic weighted average common shares 10,818,686 10,962,716 Common Units (1) — — Diluted weighted average common shares 10,818,686 10,962,716 Earnings per common share - basic and diluted Net earnings attributable to common shares $ 0.01 $ 0.74 (1) The effect of 217,475 convertible Common Units pursuant to the redemption rights outlined in the Company’s registration statement on Form S-11 have not been included as they would not be dilutive.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transaction, Due from (to) Related Party [Abstract]
Related Party Transactions	The following table sets forth the Advisor related party costs incurred and payable by the Company for the periods presented (amounts in thousands): Incurred Payable as of Year Ended December 31, Expensed 2019 2018 2019 2018 Financing coordination fees $ — $ 30 $ — $ — Asset management fees 647 750 — — Reimbursement of operating expenses 35 164 — — Property management fees 126 269 7 30 Disposition fees 2 336 — — Total $ 810 $ 1,549 $ 7 $ 30 Capitalized Acquisition fees $ 46 $ 60 $ — $ — Leasing fees — 4 — — Legal leasing fees — 39 — — Construction management fees 174 39 111 — Financing coordination fees 179 269 22 — Total $ 399 $ 411 $ 133 $ — The following table sets forth related-party fees paid by the unconsolidated joint ventures to Glenborough for the periods presented (amounts in thousands): Year Ended 2019 2018 SGO Joint Venture $ 286 $ 247 SGO MN Joint Venture 1,001 727

ORGANIZATION AND BUSINESS (Deta

ORGANIZATION AND BUSINESS (Details Textual) ft² in Thousands	12 Months Ended
	Dec. 31, 2019ft²	Dec. 31, 2018
Real Estate Properties [Line Items]
Partnership Interest Ownership Percentage	98.00%	97.90%
Number of Real Estate Properties	8
Net Rentable Area	86
Number of States in which Entity Operates	2
Percent of Real Estate Properties Leased	90.00%
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number of Real Estate Properties	1

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and Cash Equivalents	$ 6,119	$ 3,347
Restricted Cash	1,122	0
Total cash, cash equivalents and restricted cash	$ 7,241	$ 3,347	$ 3,902

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Deferred Rent Receivables, Net	$ 600	$ 600
Cumulative effect from change in accounting principle	$ 0	668
Retained Earnings [Member]
Cumulative effect from change in accounting principle		$ 668

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Concentration of Credit Risk (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Clover Juice [Member]
Concentration Risk [Line Items]
Fair Value, Concentration of Risk, Accounts Receivable	$ 35,000	$ 46,000
A Mano [Member]
Concentration Risk [Line Items]
Fair Value, Concentration of Risk, Accounts Receivable	10,000
Connor Concepts [Member]
Concentration Risk [Line Items]
Fair Value, Concentration of Risk, Accounts Receivable	$ 0	0
Western Sizzling [Member]
Concentration Risk [Line Items]
Fair Value, Concentration of Risk, Accounts Receivable		$ 0

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Investments in Real Estate (Details)	12 Months Ended
	Dec. 31, 2019
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	30 years
Tenant Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	1 year
Tenant Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Properties Under Development (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Interest Costs Capitalized	$ 2.7	$ 3.5

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting for Investments in Unconsolidated Joint Ventures (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Equity Method Investment, Other than Temporary Impairment	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Income Taxes (Details)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
RequiredDistributionRateToMaintainREITStatus	90.00%

REAL ESTATE INVESTMENTS ASSETS

REAL ESTATE INVESTMENTS ASSETS HELD FOR SALE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating Income (Loss)	$ (1,298)	$ 91
Land	13,536	15,217
Building and improvements	23,732	31,697
Tenant improvements	1,264	1,479
Real Estate Investment Property, at Cost	38,532	48,393
Real Estate Investment Property, Accumulated Depreciation	(3,308)	(3,917)
Investments in real estate, net	35,224	44,476
Accounts Receivable, Net	727	1,084
Lease intangibles, net	1,321	1,890
Assets held for sale	9,216	0
Notes payable	33,927	34,536
Below-market lease liabilities, net	296	370
Liabilities related to assets held for sale	8,939	0
Held-for-sale [Member] | Topaz Marketplace [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating Income (Loss)	600	$ 500
Land	1,680
Building and improvements	7,966
Tenant improvements	898
Real Estate Investment Property, at Cost	10,544
Real Estate Investment Property, Accumulated Depreciation	(1,709)
Investments in real estate, net	8,835
Accounts Receivable, Net	108
Lease intangibles, net	273
Assets held for sale	9,216
Notes payable	8,927
Below-market lease liabilities, net	12
Liabilities related to assets held for sale	$ 8,939

INVESTMENTS IN UNCONSOLIDATED_3

INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES Unconsolidated Joint Ventures Summary (Details) $ in Thousands	Dec. 27, 2019USD ($)ft²	Dec. 31, 2019USD ($)ft²	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016ft²	Sep. 30, 2015	Mar. 11, 2015
Schedule of Equity Method Investments [Line Items]
Document Period End Date		Dec. 31, 2019
Gross Proceeds from Sale of Equity Method Investments	$ 4,200
Net Rentable Area | ft²		86,000
Number of Real Estate Properties		8
Net gain on sale of unconsolidated joint venture interests		$ 1,417	$ 0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		$ 0	$ 2,701
Unconsolidated Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Net Rentable Area | ft²	494,000				1,447,000
Number of Real Estate Properties	5				18
SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Net gain on sale of unconsolidated joint venture interests				$ 500
Equity Method Investment, Ownership Percentage		0.00%	19.00%
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		$ 0	$ 1,128
SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
Number of Real Estate Properties						14
Equity Method Investment, Ownership Percentage		0.00%	10.00%
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		$ 0	$ 1,573
Oaktree [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage		80.00%
Oaktree [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage							80.00%
Oaktree [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage						80.00%
Glenborough Property Partners LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage		20.00%
Glenborough Property Partners LLC [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage							1.00%
Glenborough Property Partners LLC [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage						10.00%

INVESTMENTS IN UNCONSOLIDATED_4

INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES SGO Joint Venture (Details) - USD ($) $ in Thousands	Mar. 11, 2015	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2015
Schedule of Equity Method Investments [Line Items]
Notes payable		$ 33,927	$ 34,536
Payments to Acquire Interest in Joint Venture		38	248
InvestmentsInJointVentureInternalRateOfReturn					12.00%
Net gain on sale of unconsolidated joint venture interests		1,417	0
Cumulative effect from change in accounting principle		$ 0	$ 668
SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage		0.00%	19.00%
InvestmentsInJointVentureInternalRateOfReturn	12.00%
Deferred Gain on Sale of Property	$ 1,200
RealizedGainDeferredpercentage	20.00%
Net gain on sale of unconsolidated joint venture interests				$ 500
Mortgages [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Notes payable	$ 34,000
Strategic Realty Trust [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	19.00%
Payments to Acquire Interest in Joint Venture	$ 4,500
Glenborough Property Partners LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage		20.00%
Glenborough Property Partners LLC [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	1.00%
Payments to Acquire Interest in Joint Venture	$ 200
DispositonFeePercentage	1.00%
Oaktree [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage		80.00%
Oaktree [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	80.00%
Payments to Acquire Interest in Joint Venture	$ 19,100
More than Twelve Percent of Return [Member] | Strategic Realty Trust [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureDistributionsMadePercentage	5.00%
More than Twelve Percent of Return [Member] | Glenborough Property Partners LLC [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureDistributionsMadePercentage	5.00%
More Than Seventeen Perecent Internal Rate of Return [Member] | Strategic Realty Trust [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureDistributionsMadePercentage	12.50%
More Than Seventeen Perecent Internal Rate of Return [Member] | Glenborough Property Partners LLC [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureDistributionsMadePercentage	5.00%
More Than Seventeen Perecent Internal Rate of Return [Member] | Oaktree [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureInternalRateOfReturn	17.00%
EquityMultipleonCapitalContribution	1.5
More Than Twenty Two Percent Internal Rate of Return [Member] | Strategic Realty Trust [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureInternalRateOfReturn	20.00%
More Than Twenty Two Percent Internal Rate of Return [Member] | Glenborough Property Partners LLC [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureDistributionsMadePercentage	5.00%
More Than Twenty Two Percent Internal Rate of Return [Member] | Oaktree [Member] | SGO Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureInternalRateOfReturn	22.00%
EquityMultipleonCapitalContribution	1.75
Retained Earnings [Member]
Schedule of Equity Method Investments [Line Items]
Cumulative effect from change in accounting principle			$ 668

INVESTMENTS IN UNCONSOLIDATED_5

INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES SGO MN Joint Venture (Details) $ in Thousands	Jan. 08, 2016USD ($)	Dec. 23, 2015USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017	Dec. 31, 2016	Mar. 11, 2015
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Interest in Joint Venture				$ 38	$ 248
Notes payable				$ 33,927	$ 34,536
Number of Real Estate Properties				8
InvestmentsInJointVentureInternalRateOfReturn			12.00%
SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage				0.00%	10.00%
Number of Real Estate Properties			14
Payments to Acquire Real Estate	$ 1,600	$ 79,000
SGO MN Retail Acquisition Venture LLC [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Schedule of Equity Method Investments [Line Items]
Number of Real Estate Properties					3	2	6
Oaktree [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage				80.00%
Oaktree [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage			80.00%
Payments to Acquire Interest in Joint Venture			$ 22,700
InvestmentsInJointVentureInternalRateOfReturn			12.00%
Strategic Realty Trust [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage			10.00%
Payments to Acquire Interest in Joint Venture			$ 2,800
Glenborough Property Partners LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage				20.00%
Glenborough Property Partners LLC [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage			10.00%
Payments to Acquire Interest in Joint Venture			$ 2,800
Mortgages [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
Notes payable			$ 50,500
More than Twelve Percent of Return [Member] | Glenborough Property Partners LLC [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureDistributionsMadePercentage			10.00%
More Than Seventeen Perecent Internal Rate of Return [Member] | Oaktree [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureInternalRateOfReturn			17.00%
EquityMultipleonCapitalContribution			1.5
More Than Seventeen Perecent Internal Rate of Return [Member] | Glenborough Property Partners LLC [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureDistributionsMadePercentage			17.50%
More Than Twenty Two Percent Internal Rate of Return [Member] | Oaktree [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureInternalRateOfReturn			22.00%
EquityMultipleonCapitalContribution			1.75
More Than Twenty Two Percent Internal Rate of Return [Member] | Glenborough Property Partners LLC [Member] | SGO MN Retail Acquisition Venture LLC [Member]
Schedule of Equity Method Investments [Line Items]
InvestmentsInJointVentureInternalRateOfReturn								25.00%

INVESTMENTS IN UNCONSOLIDATED_6

INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES Condensed Financials (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019		Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 35,224		$ 44,476
Assets held for sale	9,216		0
Total assets	101,166	[1]	94,605
Notes payable	33,927		34,536
Other liabilities	180		375
Liabilities held for sale	8,939		0
TOTAL LIABILITIES (1)	45,886		36,535
Expenses	(5,190)		(6,660)
Unconsolidated Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	52,551		51,944
Other assets	3,177		3,123
Assets held for sale	6,814		9,361
Total assets	62,542		64,428
Notes payable	34,693		34,441
Other liabilities	1,498		2,224
Liabilities held for sale	5,336		6,094
TOTAL LIABILITIES (1)	41,527		42,759
Members’ capital	21,015		21,669
Total liabilities and members’ capital	62,542		64,428
Revenue	8,080		8,688
Expenses	(8,246)		(8,893)
Operating loss	(166)		(205)
Other income	739		2,867
Net income	$ 573		$ 2,662
[1]	As of December 31, 2019 and December 31, 2018 , includes approximately $49.4 million and $40.5 million , respectively, of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and approximately $18.5 million and $17.3 million , respectively, of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. Refer to Note 5. “Variable Interest Entities”.

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands		May 07, 2019	Mar. 07, 2016	Jan. 07, 2016	Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Payments to Acquire Interest in Joint Venture					$ 38		$ 248
Properties under development and development costs:
Land					25,851		25,851
Buildings					554		570
Development costs					20,813		13,813
Properties under development and development costs					47,218		40,234
Cash, cash equivalents and restricted cash					7,241		3,347	$ 3,902
Prepaid expenses and other assets, net					114		137
Lease intangibles, net					1,321		1,890
Total assets					101,166	[1]	94,605
LIABILITIES
Notes payable					33,927		34,536
Accounts payable and accrued expenses					2,404		1,224
Amounts due to affiliates					140		30
Other liabilities					180		375
TOTAL LIABILITIES (1)					45,886		36,535
Deferred Costs					1,300
Sunset and Gardner Joint Venture [Member]
Payments to Acquire Interest in Joint Venture				$ 5,300
Wilshire Joint Venture [Member]
Payments to Acquire Interest in Joint Venture			$ 5,700
Variable Interest Entity, Primary Beneficiary [Member]
Properties under development and development costs:
Land					25,851		25,851
Buildings					554		570
Development costs					20,813		13,813
Properties under development and development costs					47,218		40,234
Cash, cash equivalents and restricted cash					2,154		276
Prepaid expenses and other assets, net					7		9
Lease intangibles, net					4		4
Total assets	[2]				49,383		40,523
LIABILITIES
Notes payable	[3]				16,713		17,166
Accounts payable and accrued expenses					1,702		132
Amounts due to affiliates					111		8
Other liabilities					5		9
TOTAL LIABILITIES (1)					18,531		17,315
Deferred Costs					500		$ 300
Subsequent Contribution [Member] | Sunset and Gardner Joint Venture [Member]
Payments to Acquire Interest in Joint Venture					6,200
Subsequent Contribution [Member] | Wilshire Joint Venture [Member]
Payments to Acquire Interest in Joint Venture		$ 3,100			$ 8,100
[1]	As of December 31, 2019 and December 31, 2018 , includes approximately $49.4 million and $40.5 million , respectively, of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and approximately $18.5 million and $17.3 million , respectively, of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. Refer to Note 5. “Variable Interest Entities”.
[2]	The assets of the Sunset & Gardner Joint Venture and Wilshire Joint Venture can be used only to settle obligations of the respective consolidated joint ventures.
[3]	As of December 31, 2019 and December 31, 2018 , includes reclassification of approximately $0.5 million and $0.3 million , respectively, of deferred financing costs, net, as a contra-liability. The creditors of the consolidated joint ventures do not have recourse to the general credit of the Company. The notes payable of the Wilshire Joint Venture is partially guaranteed by the Company, refer to Note 8, “Notes Payable, Net”. The notes payable of the Sunset & Gardner Joint Venture is not guaranteed by the Company.

VARIABLE INTEREST ENTITIES Vari

VARIABLE INTEREST ENTITIES Variable Interest Entities Sunset and Gardner (Details) - USD ($) $ in Thousands	Jan. 28, 2016	Jan. 07, 2016	Dec. 31, 2019	Dec. 31, 2018
Document Period End Date			Dec. 31, 2019
Payments to Acquire Interest in Joint Venture			$ 38	$ 248
Sunset and Gardner Joint Venture [Member]
CapitalInterestPercentageInJointVenture			100.00%
ProfitSharingRatioOfJointVenture			50.00%
Payments to Acquire Interest in Joint Venture		$ 5,300
Proceeds from Loan Originations	$ 10,700
Payments to Acquire Real Estate	$ 13,000
Subsequent Contribution [Member] | Sunset and Gardner Joint Venture [Member]
Payments to Acquire Interest in Joint Venture			$ 6,200
Minimum [Member] | Sunset and Gardner Joint Venture [Member]
Payments to Acquire Interest in Joint Venture		$ 700
Strategic Realty Trust [Member] | Sunset and Gardner Joint Venture [Member]
ProfitSharingRatioOfJointVenture			50.00%
Sunset Gardner LA, LLC [Member] | Sunset and Gardner Joint Venture [Member]
ProfitSharingRatioOfJointVenture			50.00%

VARIABLE INTEREST ENTITIES Va_2

VARIABLE INTEREST ENTITIES Variable Interest Entities Wilshire (Details) - USD ($) $ in Thousands	May 07, 2019	Mar. 08, 2016	Mar. 07, 2016	Dec. 31, 2019	Dec. 31, 2018	Jan. 05, 2016	Dec. 14, 2015
Payments to Acquire Interest in Joint Venture				$ 38	$ 248
Wilshire Joint Venture [Member]
ProfitSharingRatioOfJointVenture				50.00%
Proceeds from Loan Originations		$ 8,500
Payments to Acquire Real Estate		$ 13,500
Payments to Acquire Interest in Joint Venture			$ 5,700
CapitalInterestPercentageInJointVenture				100.00%
Deposits Assets, Current						$ 100	$ 500
Subsequent Contribution [Member] | Wilshire Joint Venture [Member]
Payments to Acquire Interest in Joint Venture	$ 3,100			$ 8,100
Strategic Realty Trust [Member] | Wilshire Joint Venture [Member]
ProfitSharingRatioOfJointVenture				50.00%
3032 Wilshire SM [Member] | Wilshire Joint Venture [Member]
ProfitSharingRatioOfJointVenture				50.00%

LEASES (Details Textual)

LEASES (Details Textual) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Lessee, Operating Lease, Term of Contract	11 years 10 months 24 days
Operating Leases Weighted Average Remaining Term	6 years 9 months 18 days
Security Deposit	$ 0.2	$ 0.2

LEASES LEASES (Income from Real

LEASES LEASES (Income from Real Estate Operations) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Lease income - operating leases		$ 2,983
Variable lease income (1)	[1]	909
Rental and reimbursements income		$ 3,892	$ 6,751
[1]	Primarily includes tenant reimbursements for real estate taxes, insurance and common area maintenance.

LEASES (Future Minimum Lease Pa

LEASES (Future Minimum Lease Payments) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2020	$ 1,957
2021	1,952
2022	1,966
2023	1,989
2024	1,939
Thereafter	5,595
Total	$ 15,398

LEASE INTANGIBLES AND BELOW-M_3

LEASE INTANGIBLES AND BELOW-MARKET LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Lease Intangibles, Cost	$ 2,084	$ 3,030
Lease Intangibles, Accumulated amortization	(763)	(1,140)
Lease intangibles, net	1,321	1,890
Below - Market Lease Liabilities, Cost	(492)	(526)
Below - Market Lease Liabilities, Accumulated amortization	196	156
Below Market Lease, Net	$ (296)	$ (370)

LEASE INTANGIBLES AND BELOW-M_4

LEASE INTANGIBLES AND BELOW-MARKET LEASE LIABILITIES LEASE INTANGIBLE AND BELOW-MARKET LEASE AMORTIZATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Amortization [Abstract]
Amortization of Intangible Assets	$ (329)	$ (402)
Amortization of Below-Market Lease Liabilities	$ 62	$ 67

LEASE INTANGIBLES AND BELOW-M_5

LEASE INTANGIBLES AND BELOW-MARKET LEASE LIABILITIES FUTURE LEASE AMORTIZATION (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2020	$ 220
2021	186
2022	185
2023	182
2024	173
Thereafter	375
Lease intangibles, net	1,321	$ 1,890
Below Market Lease, Amortization Income, Maturity Schedule [Abstract]
2020	(50)
2021	(34)
2022	(34)
2023	(34)
2024	(34)
Thereafter	(110)
Below Market Lease, Net	$ (296)	$ (370)

NOTES PAYABLE, NET NOTES PAYABL

NOTES PAYABLE, NET NOTES PAYABLE, NET (Multi-Property Secured Financing) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Secured Debt	$ 18
Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date	Jan. 9, 2023
Debt Instrument, Description of Variable Rate Basis	30-day LIBOR
Debt Instrument, Basis Spread on Variable Rate	2.80%
Secured Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Measurement Input, Default Rate [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	5.00%

NOTES PAYABLE, NET (Line Of Cre

NOTES PAYABLE, NET (Line Of Credit) (Details) - USD ($) $ in Millions	Feb. 15, 2017	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Amortization of Debt Issuance Costs			$ 0.6
Secured Line of Credit [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 17.4
Line of Credit Facility, Fair Value of Amount Outstanding		$ 8.9
Secured Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 60
Line of Credit Facility, Maximum Borrowing Capacity	$ 30
Line of Credit Facility, Expiration Date	Feb. 15, 2020
Usage Under Credit Facility		50.00%
Secured Line of Credit [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.20%
Secured Line of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.30%

NOTES PAYABLE, NET (Loans Secur

NOTES PAYABLE, NET (Loans Secured by Properties Under Development) (Details) - USD ($) $ in Thousands	May 07, 2019	Mar. 08, 2016	Mar. 07, 2016	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Short-term Debt [Line Items]
Payments to Acquire Interest in Joint Venture					$ 38	$ 248
Wilshire Joint Venture [Member]
Short-term Debt [Line Items]
Proceeds from Loan Originations		$ 8,500
Payments to Acquire Interest in Joint Venture			$ 5,700
Wilshire Joint Venture [Member]
Short-term Debt [Line Items]
Proceeds from Loan Originations				$ 8,800	$ 8,500
Debt Instrument, Description of Variable Rate Basis					1-month LIBOR
Debt Instrument, Basis Spread on Variable Rate					4.25%
Debt Instrument, Maturity Date					May 10, 2022
Sunset and Gardner Joint Venture [Member]
Short-term Debt [Line Items]
Proceeds from Loan Originations					$ 8,700
Interest Rate					6.90%
Debt Instrument, Maturity Date					Oct. 31, 2020
Maximum [Member] | Wilshire Joint Venture [Member]
Short-term Debt [Line Items]
Proceeds from Loan Originations	$ 13,900
Subsequent Contribution [Member] | Wilshire Joint Venture [Member]
Short-term Debt [Line Items]
Payments to Acquire Interest in Joint Venture	$ 3,100				$ 8,100

NOTES PAYABLE, NET (Future Prin

NOTES PAYABLE, NET (Future Principal Payments) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Debt Disclosure [Abstract]
Deferred Costs	$ 1,300
Schedule of maturities for notes payable outstanding
2020	17,627
2021	0
2022	8,495
2022	18,000
Total (1)	$ 44,122

NOTES PAYABLE, NET NOTES PAYA_2

NOTES PAYABLE, NET NOTES PAYABLE, NET (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Short-term Debt [Line Items]
Interest expense		$ 667	$ 887
Amortization of Debt Issuance Costs			600
Interest Costs Capitalized		2,700	3,500
Interest Payable	$ 200	200	200
Variable Interest Entity, Primary Beneficiary [Member]
Short-term Debt [Line Items]
Amortization of Debt Issuance Costs	200	400	300
Interest Costs Capitalized		2,700	3,500
Interest Payable	$ 100	$ 100	$ 100

EQUITY EQUITY (Common Stock) (D

EQUITY EQUITY (Common Stock) (Details) - USD ($) $ / shares in Units, $ in Millions	Nov. 04, 2015	Feb. 07, 2013	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Common Stock, Shares Authorized			400,000,000	400,000,000
Common stock par value (in dollars per share)			$ 0.01	$ 0.01
Common Stock, Shares, Issued			10,759,721	10,863,299
Common Stock
Class of Stock [Line Items]
Common Stock, Shares, Issued		10,688,940
Proceeds from Issuance of Common Stock		$ 104.7
Stock Issued During Period, Value, Dividend Reinvestment Plan		391,182
Proceeds from Issuance of Common Stock, Dividend Reinvestment Plan		$ 3.6
SpecialDistributionSharesIssuedToStockholders	273,729
Cumulative stock redeemed to date, shares			858,551
Cumulative stock redeemed to date, value			$ 6
Restricted Stock [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period		50,000

EQUITY EQUITY (Common Units of

EQUITY EQUITY (Common Units of the OP) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2014	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Mar. 12, 2012	May 26, 2011
Class of Stock [Line Items]
Stock Issued During Period, Value, Conversion of Units			$ 0
Pinehurst [Member]
Class of Stock [Line Items]
Common Unit, Issued						287,472
Common Unit, Issuance Value						$ 2,600
Commonunitissuancevalueperunit						$ 9
Shops at Turkey Creek [Member]
Class of Stock [Line Items]
Common Unit, Issued					144,324
Common Unit, Issuance Value					$ 1,400
Commonunitissuancevalueperunit					$ 9.50
Affiliated Entity [Member]
Class of Stock [Line Items]
Proceeds from Contributed Capital	$ 1
Operating Partnership Interest	15.00%
Cumulative Rate of Return	7.00%
Common Stock
Class of Stock [Line Items]
Stock Issued During Period, Value, Conversion of Units			$ 0
Stock Issued During Period, Shares, Conversion of Units			17,719
Antidiluted Convertible Common Units Of Redemption	1,000
Additional Paid-in Capital
Class of Stock [Line Items]
Stock Issued During Period, Value, Conversion of Units		$ 105	$ 105	$ 0

EQUITY EQUITY (Preferred Stock)

EQUITY EQUITY (Preferred Stock) (Details) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Issued	0	0

EQUITY (Share Redemption) (Deta

EQUITY (Share Redemption) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Apr. 01, 2015
Class of Stock [Line Items]
Stock Redeemed or Called During Period, Value	$ 722,000	$ 762,000
Common Stock Outstanding Percentage	5.00%
Redemption Price for Shares Percentage	100.00%
Share Redemption Amount Minimum Limit	$ 5,000
Common Stock
Class of Stock [Line Items]
Stock Redeemed or Called During Period, Shares	121,297	125,139
Stock Redeemed or Called During Period, Value	$ 722,000	$ 762,000
Cumulative stock redeemed to date, shares	858,551
Cumulative stock redeemed to date, value	$ 6,000,000
Death of a shareholder [Member]
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 3,500,000
Additional Amounts Authorized for Share Repurchase Program	300,000
Disability of a Shareholder [Member]
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 1,000,000
Additional Amounts Authorized for Share Repurchase Program	$ 200,000

EQUITY EQUITY (Quarterly Distri

EQUITY EQUITY (Quarterly Distribution (Details) - 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
Dividends [Line Items]
Minimum Percentage of Taxable Income Distributed to Shareholders									90.00%
Dividends Payable, Date Declared	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Dividends Payable, Date to be Paid	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018
Common Stock, Dividends, Per Share, Declared	$ 0.02	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06
Total Common Stockholders Distribution	$ 215	$ 646	$ 648	$ 651	$ 652	$ 656	$ 658	$ 659	$ 2,160	$ 2,625
Total Common Unit Holders Distribution	5	13	14	14	14	14	14	14	46	56
Total Distribution	$ 220	$ 659	$ 662	$ 665	$ 666	$ 670	$ 672	$ 673	$ 2,206	$ 2,681
Maximum [Member]
Dividends [Line Items]
Distribution Limit, percentage									100.00%
Distribution Limit, value									$ 2,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Numerator - basic and diluted
Net income		$ 138	$ 8,327
Net income attributable to non-controlling interests		3	175
Net income attributable to common shares		$ 135	$ 8,152
Denominator - basic and diluted
Basic weighted average common shares		10,818,686	10,962,716
Common Units (1)	[1]	0	0
Diluted weighted average common shares		10,818,686	10,962,716
Earnings per common share - basic and diluted
Net earnings attributable to common shares		$ 0.01	$ 0.74
[1]	The effect of 217,475 convertible Common Units pursuant to the redemption rights outlined in the Company’s registration statement on Form S-11 have not been included as they would not be dilutive.

EARNINGS PER SHARE (Details Tex

EARNINGS PER SHARE (Details Textual)	12 Months Ended
	Dec. 31, 2019shares
Earnings Per Share [Abstract]
Antidiluted Convertible Common Units of Redemption	217,475

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Advisor Fees [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Financing Fees, Expensed [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	$ 0	$ 30
Related-party costs, Payable	0	0
Expensed Asset management Fees [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	647	750
Related-party costs, Payable	0	0
Expensed Reimbursement Of Operating Expenses [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	35	164
Related-party costs, Payable	0	0
Expensed Property Management Fees [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	126	269
Related-party costs, Payable	7	30
Expensed Disposition Fees [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	2	336
Related-party costs, Payable	0	0
Capitalized Acquisition Fees [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	46	60
Related-party costs, Payable	0	0
Capitalized Leasing Fees [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	0	4
Related-party costs, Payable	0	0
Capitalized Legal Leasing Fees [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	0	39
Related-party costs, Payable	0	0
Capitalized Construction Management Fees [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	174	39
Related-party costs, Payable	111	0
Financing Coordination Fees, Capitalized [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	179	269
Related-party costs, Payable	22	0
Expensed [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	810	1,549
Related-party costs, Payable	7	30
Capitalized [Member]
Summarized below are the related-party transactions
Related-party costs, Incurred	399	411
Related-party costs, Payable	$ 133	$ 0

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details) (Narrative)	Dec. 27, 2019USD ($)ft²	Dec. 31, 2019USD ($)ft²	Dec. 31, 2016ft²
Related Party Transaction [Line Items]
Gross Proceeds from Sale of Equity Method Investments | $	$ 4,200,000
Number of Real Estate Properties		8
Net Rentable Area | ft²		86,000
Advisor Fees [Member]
Related Party Transaction [Line Items]
Company pays Advisor an acquisition and origination fee for cost of investments acquired		1.00%
Financing Coordination Fee, percentage		1.00%
Company pays Advisor a monthly asset management fee on all real estate investments		0.60%
Percentage of Average Invested Assets		2.00%
Percent of Net Income		25.00%
Advisor or its affiliates also will be paid disposition fees of a customary and competitive real estate commission		50.00%
SRT Manager [Member]
Related Party Transaction [Line Items]
Property Management Fee, Percent Fee		4.00%
Construction Management Fee, percentage		5.00%
Asset Management [Member]
Related Party Transaction [Line Items]
Asset Management Fees | $		$ 250,000
Maximum [Member] | Advisor Fees [Member]
Related Party Transaction [Line Items]
Advisor or its affiliates also will be paid disposition fees of the contract price		3.00%
Oaktree [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage		80.00%
Glenborough Property Partners LLC [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage		20.00%
Unconsolidated Joint Ventures [Member]
Related Party Transaction [Line Items]
Number of Real Estate Properties	5		18
Net Rentable Area | ft²	494,000		1,447,000

RELATED PARTY TRANSACTIONS RELA

RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS (Details) (Fees paid by Unconsolidated Joint Ventures) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
SGO Retail Acquisition Venture LLC [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 286	$ 247
SGO MN Retail Acquisition Venture LLC [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 1,001	$ 727

SUBSEQUENT EVENTS SUBSEQUENT _2

SUBSEQUENT EVENTS SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Thousands

Feb. 10, 2020

Jan. 31, 2020

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

Jan. 10, 2020

Jan. 08, 2020

Feb. 15, 2017

Subsequent Event [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.02

$ 0.06

$ 0.06

$ 0.06

$ 0.06

$ 0.06

$ 0.06

$ 0.06

Net gain on disposal of real estate

$ 13

$ 7,932

Subsequent Event [Member]

Subsequent Event [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.02

Secured Line Of Credit [Member]

Subsequent Event [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 30,000

Line of Credit Facility, Current Borrowing Capacity

$ 60,000

Secured Line Of Credit [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 30,000

Line of Credit Facility, Current Borrowing Capacity

$ 10,500

Shops at Turkey Creek [Member] | Held-for-sale [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Disposal Group, Including Discontinued Operation, Consideration

$ 5,200

Topaz Marketplace [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Disposal Group, Including Discontinued Operation, Consideration

$ 10,500

Net gain on disposal of real estate

$ 1,000

SCHEDULE III - REAL ESTATE OP_2

SCHEDULE III - REAL ESTATE OPERATING PROPERTIES AND ACCUMULATED DEPRECIATION Real Estate Operating Properties and Accumulated Depreciation Schedule of Real Estate Properties (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Land		$ 13,520
Building and Improvements		23,910
Cost Capitalized Subsequent to Acquisition(1)	[1]	1,102
Land		13,536
Building and Improvements		24,996
Total (2)		38,532	[2]	$ 48,393	$ 46,033
Accumulated Depreciation		(3,308)		$ (3,917)	$ (2,579)
Federal Income Tax Basis		36,700
Shops at Turkey Creek [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Land		1,416
Building and Improvements		2,398
Cost Capitalized Subsequent to Acquisition(1)	[1]	(32)
Land		1,416
Building and Improvements		2,366
Total (2)	[2]	3,782
Accumulated Depreciation		(601)
400 Grove [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Land		1,009
Building and Improvements		1,813
Cost Capitalized Subsequent to Acquisition(1)	[1]	0
Land		1,009
Building and Improvements		1,813
Total (2)	[2]	2,822
Accumulated Depreciation		(212)
8 Octavia [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Land		728
Building and Improvements		1,847
Cost Capitalized Subsequent to Acquisition(1)	[1]	84
Land		728
Building and Improvements		1,931
Total (2)	[2]	2,659
Accumulated Depreciation		(244)
Fulton Shops [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Land		1,187
Building and Improvements		3,254
Cost Capitalized Subsequent to Acquisition(1)	[1]	0
Land		1,187
Building and Improvements		3,254
Total (2)	[2]	4,441
Accumulated Depreciation		(412)
450 Hayes [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Land		2,324
Building and Improvements		5,009
Cost Capitalized Subsequent to Acquisition(1)	[1]	367
Land		2,324
Building and Improvements		5,376
Total (2)	[2]	7,700
Accumulated Depreciation		(576)
388 Fulton [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Land		1,109
Building and Improvements		2,943
Cost Capitalized Subsequent to Acquisition(1)	[1]	319
Land		1,112
Building and Improvements		3,259
Total (2)	[2]	4,371
Accumulated Depreciation		(379)
Silver Lake [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Land		5,747
Building and Improvements		6,646
Cost Capitalized Subsequent to Acquisition(1)	[1]	364
Land		5,760
Building and Improvements		6,997
Total (2)	[2]	12,757
Accumulated Depreciation		$ (884)
Minimum [Member] | Shops at Turkey Creek [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	5 years
Minimum [Member] | 400 Grove [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	5 years
Minimum [Member] | 8 Octavia [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	5 years
Minimum [Member] | Fulton Shops [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	5 years
Minimum [Member] | 450 Hayes [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	5 years
Minimum [Member] | 388 Fulton [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	5 years
Minimum [Member] | Silver Lake [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	5 years
Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	30 years
Maximum [Member] | 400 Grove [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	30 years
Maximum [Member] | 8 Octavia [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	30 years
Maximum [Member] | Fulton Shops [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	30 years
Maximum [Member] | 450 Hayes [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	30 years
Maximum [Member] | 388 Fulton [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	30 years
Maximum [Member] | Silver Lake [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation	[3]	30 years
[1]	The cost capitalized subsequent to acquisition may include negative balances resulting from the write-off and impairment of real estate assets, and parcel sales.
[2]	The aggregate net tax basis of land and buildings, excluding properties held for sale, for federal income tax purposes is $36.7 million .
[3]	Buildings and building improvements are depreciated over their useful lives as shown. Tenant improvements are amortized over the life of the related lease, which with our current portfolio can vary from 1 year to over 15 years.

SCHEDULE III - REAL ESTATE OP_3

SCHEDULE III - REAL ESTATE OPERATING PROPERTIES AND ACCUMULATED DEPRECIATION Real Estate Operating Properties and Accumulated Depreciation (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019		Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at the beginning of the year		$ 48,393		$ 46,033
Improvements		683		769
Dispositions		0		(22,366)
Balances associated with changes in reporting presentation (1)	[1]	(10,544)		23,957
Balance at the end of the year		38,532	[2]	48,393
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at the beginning of the year		3,917		2,579
Depreciation expense		1,100		1,205
Dispositions		0		(5,045)
Balances associated with changes in reporting presentation (1)	[1]	(1,709)		5,178
Balance at the end of the year		$ 3,308		$ 3,917
[1]	The balances associated with changes in reporting presentation represent real estate and accumulated depreciation reclassified as assets held for sale.
[2]	The aggregate net tax basis of land and buildings, excluding properties held for sale, for federal income tax purposes is $36.7 million .