STAG Industrial (STAG) 10-K 16 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Feb. 14, 2017	Jun. 30, 2016
Document and Entity Information
Entity Registrant Name	STAG Industrial, Inc.
Entity Central Index Key	1,479,094
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 1,618
Entity Common Stock, Shares Outstanding		82,051,501
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Rental Property:
Land	$ 272,162	$ 228,919
Building and improvements, net of accumulated depreciation	1,550,141	1,334,776
Intangible Assets, Net (Excluding Goodwill)	294,533	276,272
Total rental property, net	2,116,836	1,839,967
Cash and cash equivalents	12,192	12,011
Restricted cash	9,613	8,395
Tenant accounts receivable, net	25,223	21,478
Prepaid expenses and other assets	20,821	18,064
Interest rate swaps	1,471	1,867
Total assets	2,186,156	1,901,782
Liabilities:
Unsecured credit facility	28,000	56,000
Unsecured term loans	446,608	296,618
Unsecured notes	397,966	397,720
Mortgage notes	163,565	229,910
Accounts payable, accrued expenses and other liabilities	35,389	25,662
Interest rate swaps	2,438	3,766
Tenant prepaid rent and security deposits	15,195	14,628
Dividends and distributions payable	9,728	8,234
Deferred leasing intangibles, net of accumulated amortization of $10,132 and $8,536, respectively	20,341	11,387
Total liabilities	1,119,230	1,043,925
Commitments and contingencies
Equity:
Common stock, par value $0.01 per share, 150,000,000 shares authorized, 72,460,009 and 68,077,333 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	804	681
Additional paid-in capital	1,293,706	1,017,397
Common stock dividends in excess of earnings	(410,978)	(332,271)
Accumulated other comprehensive loss	(1,496)	(2,350)
Total stockholders’ equity	1,027,036	822,457
Noncontrolling interest	39,890	35,400
Total equity	1,066,926	857,857
Total liabilities and equity	2,186,156	1,901,782
Series A Preferred Stock
Equity:
Preferred stock	0	69,000
Series B Preferred Stock
Equity:
Preferred stock	70,000	70,000
Series C Preferred Stock [Member]
Equity:
Preferred stock	$ 75,000	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Building and building, accumulated amortization	$ 187,413	$ 147,917
Deferred leasing intangibles assets, accumulated amortization	237,456	200,758
Deferred leasing intangibles liabilities, accumulated amortization	$ 10,450	$ 8,536
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	100,000,000
Common Stock, shares issued	80,352,304	68,077,333
Common stock, shares outstanding	80,352,304	68,077,333
Series A Preferred Stock
Preferred stock, shares issued	0	2,760,000
Preferred stock, shares outstanding	0	2,760,000
Preferred stock, liquidation preference (in dollars per share)	$ 0	$ 25
Series B Preferred Stock
Preferred stock, shares issued	2,800,000	2,800,000
Preferred stock, shares outstanding	2,800,000	2,800,000
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Series C Preferred Stock [Member]
Preferred stock, shares issued	3,000,000	0
Preferred stock, shares outstanding	3,000,000	0
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue
Rental income	$ 212,741	$ 186,463	$ 149,470
Tenant recoveries	37,107	31,666	23,607
Other income	395	504	739
Total revenue	250,243	218,633	173,816
Expenses
Property	48,904	42,627	33,388
General and administrative	33,395	28,750	26,396
Property acquisition costs	4,567	4,757	4,390
Depreciation and amortization	125,444	110,421	87,703
Loss on impairments	16,845	29,272	2,840
Other expenses	1,149	1,048	803
Total expenses	230,304	216,875	155,520
Other income (expense)
Interest Income, Deposits with Financial Institutions	10	9	15
Interest expense	(42,923)	(36,098)	(25,109)
Loss on extinguishment of debt	(3,261)	0	(686)
Gain on sales of rental property	61,823	4,986	2,799
Total other income (expense)	15,649	(31,103)	(22,981)
Net income (loss)	35,588	(29,345)	(4,685)
Less: loss attributable to noncontrolling interest after preferred stock dividends	1,069	(1,962)	(992)
Net loss attributable to STAG Industrial, Inc.	34,519	(27,383)	(3,693)
Less: preferred stock dividends	13,897	10,848	10,848
Less: amount allocated to unvested restricted stockholders	384	385	345
Net loss attributable to common stockholders	$ 20,238	$ (38,616)	$ (14,886)
Weighted Average Number of Shares Outstanding, Basic	70,637,185	66,307,972	54,086,345
Weighted Average Number of Shares Outstanding, Diluted	70,852,548	66,307,972	54,086,345
Loss per share - basic and diluted
Income (loss) from continuing operations attributable to common stockholders (in dollars per share)	$ 0.29	$ (0.58)	$ (0.28)
Income (Loss) from Continuing Operations, Per Diluted Share	$ 0.29	$ (0.58)	$ (0.28)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 35,588	$ (29,345)	$ (4,685)
Other comprehensive income (loss):
Income (loss) on interest rate swaps	898	(1,956)	(4,197)
Other comprehensive income (loss)	898	(1,956)	(4,197)
Comprehensive income (loss)	36,486	(31,301)	(8,882)
Net loss attributable to noncontrolling interest after preferred stock dividends	(1,069)	1,962	992
Other comprehensive (income) loss attributable to noncontrolling interest	(44)	95	268
Comprehensive income (loss) attributable to STAG Industrial, Inc.	$ 35,373	$ (29,244)	$ (7,622)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Series C Preferred Stock [Member]	Series A Preferred Stock	Preferred Stock	Common Stock	Additional Paid-in Capital	Common Stock Dividends in excess of Earnings	Accumulated Other Comprehensive Income (Loss)	Total Stockholders' Equity	Total Stockholders' EquitySeries C Preferred Stock [Member]	Total Stockholders' EquitySeries A Preferred Stock	Noncontrolling Interest - Unit holders in Operating Partnership
Balance at Dec. 31, 2013	$ 674,564			$ 139,000	$ 447	$ 577,039	$ (116,877)	$ 3,440	$ 603,049			$ 71,515
Balance (in shares) at Dec. 31, 2013					44,764,377
Increase (Decrease) in Stockholders' Equity
Proceeds from sales of common stock	316,692				$ 144	316,548			316,692
Proceeds from sales of common stock (in shares)					14,406,376
Offering costs	(8,899)					(8,899)			(8,899)
Issuance of restricted stock, net					$ 1	(1)
Issuance of restricted stock, net (in shares)					101,412
Issuance of common stock (in shares)					13,446
Issuance of equity pursuant to outperformance program	(475)				$ 1	(1,491)			(1,490)			1,015
Issuance of equity pursuant to outperformance program (in shares)					43,657
Dividends and distributions, net	(86,700)			(10,848)			(71,491)		(82,339)			(4,361)
Non-cash compensation	7,279					1,924			1,924			5,355
Redemption of common units to common stock					$ 51	54,681			54,732			(54,732)
Redemption of common units to common stock (in shares)					5,105,584
Redemption of operating partnership units for cash	(1,701)											(1,701)
Rebalancing of noncontrolling interest						(11,550)			(11,550)			11,550
Other comprehensive income (loss)	(4,197)							(3,929)	(3,929)			(268)
Net income (loss)	(4,685)			10,848			(14,541)		(3,693)			(992)
Balance at Dec. 31, 2014	891,878			139,000	$ 644	928,251	(202,909)	(489)	864,497			27,381
Balance (in shares) at Dec. 31, 2014					64,434,852
Increase (Decrease) in Stockholders' Equity
Proceeds from sales of common stock	74,892				$ 35	74,857			74,892
Proceeds from sales of common stock (in shares)					3,456,403
Offering costs	(1,229)					(1,229)			(1,229)
Issuance of restricted stock, net					$ 1	(1)
Issuance of restricted stock, net (in shares)					79,384
Issuance of common stock (in shares)					15,870
Dividends and distributions, net	(106,751)			(10,848)			(91,131)		(101,979)			(4,772)
Non-cash compensation	7,579					2,805			2,805			4,774
Issuance of units	22,853											22,853
Redemption of common units to common stock					$ 1	1,002			1,003			(1,003)
Redemption of common units to common stock (in shares)					90,824
Redemption of operating partnership units for cash	(64)											(64)
Rebalancing of noncontrolling interest						11,712			11,712			(11,712)
Other comprehensive income (loss)	(1,956)							(1,861)	(1,861)			(95)
Net income (loss)	(29,345)			10,848			(38,231)		(27,383)			(1,962)
Balance at Dec. 31, 2015	857,857			139,000	$ 681	1,017,397	(332,271)	(2,350)	822,457			35,400
Balance (in shares) at Dec. 31, 2015					68,077,333
Increase (Decrease) in Stockholders' Equity
Proceeds from sales of common stock	282,669	$ 75,000		75,000	$ 121	282,548			282,669	$ 75,000
Proceeds from sales of common stock (in shares)		3,000,000			12,090,038
Offering costs	(6,928)					(6,928)			(6,928)
Issuance of restricted stock, net					$ 1	(1)
Issuance of restricted stock, net (in shares)					99,968
Issuance of common stock (in shares)					16,473
Dividends and distributions, net	(118,933)			(13,897)			(99,329)		(113,226)			(5,707)
Non-cash compensation	9,775					3,691			3,691			6,084
Stock Redeemed or Called During Period, Value			$ (69,000)	(69,000)							$ (69,000)
Redemption of common units to common stock					$ 1	616			617			(617)
Redemption of common units to common stock (in shares)					68,492
Rebalancing of noncontrolling interest						(3,617)			(3,617)			3,617
Other comprehensive income (loss)	898							854	854			44
Net income (loss)	35,588			13,897			20,622		34,519			1,069
Balance at Dec. 31, 2016	$ 1,066,926			$ 145,000	$ 804	$ 1,293,706	$ (410,978)	$ (1,496)	$ 1,027,036			$ 39,890
Balance (in shares) at Dec. 31, 2016					80,352,304

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income (loss)	$ 35,588	$ (29,345)	$ (4,685)
Adjustment to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	125,444	110,421	87,703
Loss on impairments	16,845	29,272	2,840
Non-cash portion of interest expense	1,632	1,262	1,337
Intangible amortization in rental income, net	6,213	8,526	6,253
Straight-line rent adjustments, net	(1,817)	(3,134)	(3,347)
Restricted Stock Award, Forfeitures, Dividends	3	25	128
Loss on extinguishment of debt	3,261	0	686
Gain on sales of rental property	(61,823)	(4,986)	(2,799)
Non-cash compensation expense	9,729	7,578	7,314
Change in assets and liabilities:
Tenant accounts receivable, net	(1,435)	(1,334)	435
Restricted cash	(365)	(40)	(127)
Prepaid expenses and other assets	(4,580)	(3,155)	(2,588)
Accounts payable, accrued expenses and other liabilities	6,161	3,469	1,018
Tenant prepaid rent and security deposits	567	3,148	2,508
Total adjustments	99,835	151,052	101,361
Net cash provided by operating activities	135,423	121,707	96,676
Cash flows from investing activities:
Acquisitions of land and buildings and improvements	(377,559)	(291,949)	(333,983)
Additions of land and building improvements	(30,485)	(16,329)	(11,891)
Acquisitions of other assets	(158)	(565)	0
Proceeds from sale of rental property, net	152,079	22,163	12,980
Restricted cash	(853)	(1,449)	27
Acquisition deposits, net	(560)	1,420	(2,020)
Additions to lease intangibles	(89,576)	(85,329)	(86,826)
Net cash used in investing activities	(347,112)	(372,038)	(421,713)
Cash flows from financing activities:
Proceeds from sale of Series C Preferred stock	75,000	0	0
Redemption of Series A Preferred Stock	(69,000)	0	0
Redemption of common units for cash	0	(64)	(1,701)
Proceeds from unsecured credit facility	513,000	300,750	426,500
Repayment of unsecured credit facility	(541,000)	(375,750)	(376,000)
Proceeds from unsecured term loans	150,000	150,000	200,000
Repayment of unsecured term loans	0	0	(300,000)
Proceeds from unsecured notes	0	220,000	180,000
Repayment of mortgage notes	(70,444)	(20,571)	(4,463)
Settlement of forward swap contracts	0	0	(358)
Payment of loan fees and costs	(715)	(3,672)	(4,431)
Payments of Debt Extinguishment Costs	(3,278)	0	0
Dividends and distributions	(117,441)	(105,892)	(84,640)
Proceeds from sales of common stock	282,669	74,892	316,692
Offering costs	(6,921)	(1,229)	(8,899)
Withholding taxes for net settlement of outperformance program	0	0	(475)
Net cash provided by financing activities	211,870	238,464	342,225
Increase (decrease) in cash and cash equivalents	181	(11,867)	17,188
Cash and cash equivalents-beginning of period	12,011	23,878	6,690
Cash and cash equivalents-end of period	12,192	12,011	23,878
Supplemental disclosure:
Cash paid for interest	39,367	32,440	22,675
Supplemental schedule of non-cash investing and financing activities
Issuance of units for acquisitions of land and building and improvements and deferred leasing intangibles	0	(22,853)	0
Contingent consideration for acquisition of land and building and improvements	0	(216)	0
Contingent consideration for acquisition of deferred leasing intangibles	0	(84)	0
Contingent consideration liability acquired	0	300	0
Contribution of Property	1,175	565	0
Transfer of other assets to building and other capital improvements	(3,572)	(38,339)	(3,743)
Transfer of other assets to building and other capital improvements	0	(565)	0
Acquisitions of deferred leasing intangibles	(1,008)	(11,199)	(593)
Partial Disposal of Building Due to Involuntary Conversion	779	0	0
Investing Other Receivables Due to Involuntary Conversion	(779)	0	0
Change in additions of land and building and improvements included in accounts payable, accrued expenses, and other liabilities	(1,455)	(182)	(1,716)
Capital Expenditures Incurred Through Issuance of Non-Cash Compensation	(18)	0	0
Assumption of mortgage notes	4,037	26,267	4,198
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed)	75	418	138
Change in loan fees and costs and offering costs included in accounts payable, accrued expenses, and other liabilities	26	24	(84)
Dividends and distributions declared but not paid	$ 9,728	$ 8,234	$ 7,355

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business STAG Industrial, Inc. (the “Company”) is an industrial real estate operating company focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. The Company was formed as a Maryland corporation and has elected to be treated and intends to continue to qualify as a real estate investment trust (“REIT”) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”). The Company is structured as an umbrella partnership REIT, commonly called an UPREIT, and owns substantially all of its assets and conducts substantially all of its business through its operating partnership, STAG Industrial Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”). As of December 31, 2016 and December 31, 2015 , the Company owned a 95.7% and 95.1% , respectively, common equity interest in the Operating Partnership. The Company, through its wholly owned subsidiary, is the sole general partner of the Operating Partnership. As used herein, the “Company” refers to STAG Industrial, Inc. and its consolidated subsidiaries and partnerships, including the Operating Partnership, except where context otherwise requires. As of December 31, 2016 , the Company owned 314 buildings in 37 states with approximately 60.9 million rentable square feet (square feet unaudited herein and throughout Notes), consisting of 243 warehouse/distribution buildings, 54 light manufacturing buildings, 16 flex/office buildings, and one building in redevelopment. The Company’s buildings were approximately 94.7% leased to 275 tenants as of December 31, 2016 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The Company’s consolidated financial statements include the accounts of the Company, the Operating Partnership and their subsidiaries. Interests in the Operating Partnership not owned by the Company are referred to as “Noncontrolling Common Units.” These Noncontrolling Common Units are held by other limited partners in the form of common units ("Other Common Units") and long term incentive plan units (“LTIP units”) issued pursuant to the STAG Industrial, Inc. 2011 Equity Incentive Plan, as amended (the “2011 Plan”). All significant intercompany balances and transactions have been eliminated in the consolidation of entities. The financial statements of the Company are presented on a consolidated basis for all periods presented. Revision of Previously Reported Consolidated Financial Statements In connection with the preparation of the Company's consolidated financial statements for the year ended December 31, 2016, the Company identified an error in the estimated useful life of a building acquired in the fourth quarter of 2014. As a result of the error, depreciation expense had been overstated and thereby rental property, net and equity were understated. The Company concluded that the amounts were not material to any of its previously issued consolidated financial statements. Accordingly, the Company revised these balances in the accompanying consolidated financial statements as of and for the years ended December 31, 2015 and December 31, 2014 as outlined below. These adjustments do not impact the Company’s cash balances for any of the reporting periods. The effects of this revision to the consolidated financial statements are as follows (in thousands, except for per share data). Effect of Revision As of and For the Year Ended December 31, 2015 As Previously Reported Adjustment As Revised Consolidated Balance Sheet, December 31, 2015 Building and improvements, net of accumulated depreciation $ 1,332,298 $ 2,478 $ 1,334,776 Total assets (1) $ 1,899,304 $ 2,478 $ 1,901,782 Total equity $ 855,379 $ 2,478 $ 857,857 Consolidated Statement of Operations, Year Ended December 31, 2015 Depreciation and amortization $ 112,545 $ (2,124 ) $ 110,421 Total expenses $ 218,999 $ (2,124 ) $ 216,875 Net loss $ (31,469 ) $ 2,124 $ (29,345 ) Net loss attributable to STAG Industrial, Inc. $ (29,403 ) $ 2,020 $ (27,383 ) Net loss attributable to common stockholders $ (40,636 ) $ 2,020 $ (38,616 ) Loss per share attributable to common stockholders — basic and diluted $ (0.61 ) $ 0.03 $ (0.58 ) Consolidated Statement of Comprehensive Income (Loss), Year Ended December 31, 2015 Comprehensive loss $ (33,425 ) $ 2,124 $ (31,301 ) (1) The as previously reported balance for total assets has been retrospectively adjusted to include the effect of the change in accounting principle for the adoption of ASU 2015-03, as discussed in "New Accounting Pronouncements" below. Effect of Revision As of and For the Year Ended December 31, 2014 As Previously Reported Adjustment As Revised Consolidated Balance Sheet, December 31, 2014 Total assets (1) $ 1,623,448 $ 354 $ 1,623,802 Total equity $ 891,524 $ 354 $ 891,878 Consolidated Statement of Operations, Year Ended December 31, 2014 Depreciation and amortization $ 88,057 $ (354 ) $ 87,703 Total expenses $ 155,874 $ (354 ) $ 155,520 Net loss $ (5,039 ) $ 354 $ (4,685 ) Net loss attributable to STAG Industrial, Inc. $ (4,025 ) $ 332 $ (3,693 ) Net loss attributable to common stockholders $ (15,218 ) $ 332 $ (14,886 ) Loss per share attributable to common stockholders — basic and diluted $ (0.28 ) $ — $ (0.28 ) Consolidated Statement of Comprehensive Income (Loss), Year Ended December 31, 2014 Comprehensive loss $ (9,236 ) $ 354 $ (8,882 ) (1) The as previously reported balance for total assets has been retrospectively adjusted to include the effect of the change in accounting principle for the adoption of ASU 2015-03, as discussed in "New Accounting Pronouncements" below. New Accounting Pronouncements In January of 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The new standard removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This standard is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted for interim or goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of ASU 2017-04 is not expected to materially impact the Company’s consolidated financial statements. In January of 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . The new standard provides a screen to determine when a set of assets and activities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired or disposed of is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This standard is effective for annual periods beginning after December 15, 2017 and interim periods within those periods, with early adoption permitted, and should be applied prospectively on or after the effective date. Upon the adoption of ASU 2017-01, it is expected that the majority of the Company's acquisitions will be accounted for as asset acquisitions, whereas under the current guidance the majority of the Company's acquisitions have been accounted for as business combinations. The most significant difference between the two accounting models that will impact the Company's consolidated financial statements is that in an asset acquisition, property acquisition costs are generally a component of the consideration transferred to acquire a group of assets and are capitalized as a component of the cost of the assets, whereas in a business combination, property acquisition costs are expensed and not included as part of the consideration transferred. The Company plans to adopt this standard effective January 1, 2018. In November of 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . The new standard requires that the statement of cash flows explain the changes during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This standard is effective for fiscal years beginning after December 15, 2017 and interim periods within those years, with early adoption permitted, and should be applied using a retrospective transition method to each period presented. Upon the adoption of ASU 2016-18, the Company will reconcile both cash and cash equivalents and restricted cash in the accompanying Statements of Cash Flows, whereas under the current guidance the Company explains the changes during the period for cash and cash equivalents only. In August of 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which provides clarified guidance on the presentation and classification of certain cash receipts and cash payments in the statement of cash flows. This standard is effective for fiscal years beginning after December 15, 2017, and interim periods within those years, with early adoption permitted. The Company has elected to early adopt this standard effective July 1, 2016, and the effects of this standard were applied retrospectively to all prior periods presented. The effect of the change in accounting principle was an increase in net cash provided by operating activities of approximately $2.0 million for the six months ended June 30, 2016 and a corresponding increase in net cash used in financing activities for the six months ended June 30, 2016 related to the payment of loan prepayment fees and costs. In March of 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718) , which addresses certain aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, forfeitures, and classification on the statement of cash flows. This standard is effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted. The Company has elected to early adopt this standard effective January 1, 2016. As a result, the Company's policy is to recognize forfeitures in the period which they occur, whereas the former guidance required the Company to estimate expected forfeitures. The adoption of this standard did not have a material effect on the consolidated financial statements. In February of 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). Topic 842 supersedes the previous leases standard, Topic 840, Leases . The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASU 2016-02 is expected to impact the Company’s consolidated financial statements as the Company has certain operating and land lease arrangements for which it is the lessee, which will result in the recording of a right of use asset and the related lease liability. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The new standard must be adopted using a modified retrospective transition and will require application of the new guidance at the beginning of the earliest comparative period. The Company is currently in the process of evaluating the impact the adoption of ASU 2016-02 will have on the Company’s financial position or results of operations, and expects to adopt the standard effective January 1, 2019. In January of 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10) . The amendments in ASU 2016-01 address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The standard primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for the annual periods beginning after December 31, 2017 and for annual periods and interim periods within those years. Early adoption is permitted for all financial statements of fiscal years and interim periods that have not yet been issued. The adoption of ASU 2016-01 is not expected to materially impact the Company’s consolidated financial statements. In April of 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30) . ASU 2015-03 requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability. In August of 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (Subtopic 835-30) , which clarified that debt issuance costs related to line-of-credit arrangements may be presented as an asset and amortized over the term of the line-of-credit arrangement regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The Company adopted this standard effective January 1, 2016. As a result, debt issuance costs related to the debt liabilities that are not line-of-credit arrangements are included as a direct deduction from the related debt liability and those related to line-of-credit arrangements continue to be included as an asset within prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. The effects of this standard were applied retrospectively to all prior periods presented. The effect of the change in accounting principle was the reduction of unsecured term loans by approximately $3.4 million , unsecured notes by approximately $2.3 million , and mortgage notes by approximately $1.3 million and a corresponding reduction of prepaid expenses and other assets by approximately $6.9 million as of December 31, 2015. In February of 2015, the FASB issued ASU 2015-02, Amendments to Consolidation Analysis (Topic 810) , which amends the current consolidation model. On January 1, 2016, the Company adopted this standard, modifying the analysis it must perform to determine whether it should consolidate certain types of legal entities. The guidance does not amend the existing disclosure requirements for variable interest entities or voting interest model entities. The guidance, however, modified the requirements to qualify under the voting interest model. Under the revised guidance, the Operating Partnership will be a variable interest entity of the Company. As the Operating Partnership is already consolidated in the financial statements of the Company, the identification of this entity as a variable interest entity had no impact on the consolidated financial statements of the Company. There were no other legal entities qualifying under the scope of the revised guidance that were consolidated as a result of the adoption. In addition, there were no voting interest entities under prior existing guidance determined to be variable interest entities under the revised guidance. In August of 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . ASU 2014-15 requires management to evaluate whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern, and to provide certain disclosures when it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. ASU 2014-15 is effective for the annual period ending December 31, 2016 and for annual periods and interim periods thereafter with early adoption permitted. The Company adopted this standard effective for the annual period ended December 31, 2016 and this standard did not have a material effect on the consolidated financial statements. In May of 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. While lease contracts with customers, which constitute a vast majority of the Company's revenues, are a specific scope exception, certain of the Company's revenue streams may be impacted by the new guidance. Once the new guidance setting forth principles for the recognition, measurement, presentation and disclosure of leases (ASU 2016-02, as discussed above) goes into effect, the new revenue standard may apply to executory costs and other components of revenue due under leases that are deemed to be non-lease components (such as common area maintenance and provision of utilities), even when the revenue for such activities is not separately stipulated in the lease. In that case, revenue from these items previously recognized on a straight-line basis under current lease guidance would be recognized under the new revenue guidance as the related services are delivered. As a result, while the total revenue recognized over time would not differ under the new guidance, the recognition pattern would be different. The Company is in the process of evaluating the significance of the difference in the recognition pattern that would result from this change. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. The Company has not decided which method of adoption it will use. Additionally, this guidance requires improved disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for the first interim period within annual reporting periods beginning after December 15, 2017. Early adoption is permitted for the first interim period within annual reporting periods beginning after December 15, 2016. The Company is currently in the process of evaluating the impact the adoption of ASU 2014-09 will have on the Company’s financial position or results of operations, and expects that it will adopt the standard effective January 1, 2018. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Rental Property and Deferred Leasing Intangibles Rental property is carried at cost less accumulated depreciation and amortization. Expenditures for maintenance and repairs are expensed as incurred. Significant renovations and betterments that extend the economic useful lives of assets are capitalized. The Company capitalizes costs directly and indirectly related to the development, pre-development, redevelopment, or improvement of rental property. Real estate taxes, compensation costs of development personnel, insurance, interest, and other directly related costs during construction periods are capitalized as incurred and depreciated commencing with the date the property is substantially completed. Such costs begin to be capitalized to the development projects from the point the Company is undergoing the necessary activities to get the development project ready for its intended use and cease when the development projects are substantially completed and held available for occupancy. Interest is capitalized based on actual capital expenditures from the period when development or redevelopment commences until the asset is ready for its intended use, at the weighted average borrowing rate of the Company's unsecured indebtedness during the period. For properties classified as held for sale, the Company ceases depreciating and amortizing the rental property and values the rental property at the lower of depreciated and amortized cost or fair value, less costs to dispose. The Company presents those properties classified as held for sale with any qualifying assets and liabilities associated with those properties as held for sale in the accompanying Consolidated Balance Sheets. The Company allocates the purchase price of business combinations of properties based upon the fair value of the assets and liabilities acquired, which generally consist of land, buildings, tenant improvements, mortgage debt assumed, and deferred leasing intangibles, which includes in-place leases, above market and below market leases, and tenant relationships. The portion of the purchase price that is allocated to above and below market leases is valued based on the present value of the difference between prevailing market rates and the in-place rates measured over a period equal to the remaining term of the lease term plus the term of any bargain renewal options. The above and below market lease values are amortized into rental income over the remaining term plus the terms of bargain renewal options or assumed exercise of early termination options of the respective leases. The purchase price is further allocated to in-place lease values and tenant relationships based on the Company's evaluation of the specific characteristics of each tenant’s lease and its overall relationship with the respective tenant. The value of in-place lease intangibles and tenant relationships, which are included as components of deferred leasing intangibles, are amortized over the remaining lease term (and expected renewal periods of the respective lease for tenant relationships or assumed exercise of early termination options for in-place lease intangibles) as increases or decreases to depreciation and amortization expense. If a tenant terminates its lease, the unamortized portion of above and below market leases is accelerated into rental income and the in-place lease value and tenant relationships are accelerated into depreciation or amortization expense over the shortened lease term. The purchase price allocated to deferred leasing intangible assets are included in rental property on the accompanying Consolidated Balance Sheets and the purchase price allocated to deferred leasing intangible liabilities are included in deferred leasing intangibles on the accompanying Consolidated Balance Sheets under the liabilities section. In determining the fair value of the debt assumed, the Company discounts the spread between the future contractual interest payments and hypothetical future interest payments on mortgage debt based on a current market rate. The associated fair market value debt adjustment is amortized through interest expense over the life of the debt on a basis which approximates the effective interest method. Using information available at the time of acquisition, the Company allocates the total consideration to tangible assets and liabilities and identified intangible assets and liabilities. The Company may adjust the preliminary purchase price allocations after obtaining more information about asset valuations and liabilities assumed. The Company evaluates the carrying value of all tangible and intangible rental property assets held for use for possible impairment when an event or change in circumstance has occurred that indicates their carrying value may not be recoverable. The evaluation includes estimating and reviewing anticipated future undiscounted cash flows to be derived from the asset and the ultimate sale of the asset. If such cash flows are less than the asset’s carrying value, an impairment charge is recognized to the extent by which the asset’s carrying value exceeds the estimated fair value. Estimating future cash flows is highly subjective and such estimates could differ from actual results. Depreciation and amortization expense is computed using the straight-line method based on the following lives. Building 40 Years Building and land improvements Up to 20 years Tenant improvements Shorter of useful life or terms of related lease Above and below market leases and other deferred leasing intangibles Terms of the related lease plus terms of bargain renewal options or assumed exercise of early termination options Tenant relationships Terms of the related lease plus estimated renewal period Assumed debt fair value premium/discount Terms of the related loan Fully depreciated or amortized assets or liabilities and the associated accumulated depreciation or amortization are written-off. The Company wrote-off tenant improvements, deferred leasing intangible assets, and deferred leasing intangible liabilities of $2.6 million , $17.9 million , $0 , respectively, for the year ended December 31, 2016 and $1.2 million , $10.3 million , $0.8 million , respectively, for the year ended December 31, 2015 . Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid short-term investments with original maturities of three months or less. The Company maintains cash and cash equivalents in United States banking institutions that may exceed amounts insured by the Federal Deposit Insurance Corporation. While the Company monitors the cash balances in its operating accounts, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts, and mitigates this risk by using nationally recognized banking institutions. Restricted Cash Restricted cash may include tenant security deposits and cash held in escrow for real estate taxes and capital improvements as required in various mortgage loan agreements. Restricted cash also may include amounts held by the Company’s transfer agent for preferred stock dividends that are distributed subsequent to period end. Tenant Accounts Receivable, net Tenant accounts receivable, net on the accompanying Consolidated Balance Sheets includes both tenant accounts receivable, net and accrued rental income, net. The Company provides an allowance for doubtful accounts against the portion of tenant accounts receivable that is estimated to be uncollectible. As of December 31, 2016 and December 31, 2015 , the Company had an allowance for doubtful accounts of approximately $0.2 million and $0.1 million , respectively. The Company accrues rental income earned, but not yet receivable, in accordance with GAAP. As of December 31, 2016 and December 31, 2015 , the Company had accrued rental income of approximately $18.4 million and $16.1 million , respectively. The Company maintains an allowance for estimated losses that may result from those revenues. As of December 31, 2016 and December 31, 2015 , the Company had an allowance on accrued rental income of $0 and $0 , respectively. As of December 31, 2016 and December 31, 2015 , the Company had approximately $9.0 million and $6.1 million , respectively, of total lease security deposits available in the form of existing letters of credit, which are not reflected on the accompanying Consolidated Balance Sheets. As of December 31, 2016 and December 31, 2015 , the Company had approximately $5.4 million and $4.1 million , respectively, of lease security deposits available in cash, which are included in cash and cash equivalents on the accompanying Consolidated Balance Sheets, and approximately $0.4 million and $0.4 million , respectively, of lease security deposits available in cash, which are included in restricted cash on the accompanying Consolidated Balance Sheets. These funds may be used to settle tenant accounts receivables in the event of a default under the related lease. As of December 31, 2016 and December 31, 2015 , the Company's total liability associated with these lease security deposits was approximately $5.8 million and $4.5 million , respectively, which is included in tenant prepaid rent and security deposits on the accompanying Consolidated Balance Sheets. Deferred Costs Deferred financing fees and debt issuance costs include costs incurred in obtaining debt that are capitalized and are presented as a direct deduction from the carry amount of the associated debt liability that is not a line-of-credit arrangement on the accompanying Consolidated Balance Sheets. Deferred financing fees and debt issuance costs related to line-of-credit arrangements are presented as an asset in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. The deferred financing fees and debt issuance costs are amortized through interest expense over the life of the respective loans on a basis which approximates the effective interest method. Any unamortized amounts upon early repayment of debt are written off in the period of repayment as a loss on extinguishment of debt. Fully amortized deferred financing fees and debt issuance costs are removed from the books upon maturity of the underlying debt. Leasing commissions include commissions, compensation costs of leasing personnel, and other direct and incremental costs incurred to obtain new tenant leases as well as to renew existing tenant leases, and are presented in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. Leasing commission are capitalized and amortized over the terms of the related leases (and bargain renewal terms or assumed exercise of early termination options) using the straight-line method. If a lease terminates prior to the expiration of its initial term, any unamortized costs related to the lease are accelerated into amortization expense. Changes in leasing commissions are presented in the cash flows from operating activities section of the accompanying Consolidated Statements of Cash Flows. Goodwill The excess of the cost of an acquired business over the net of the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed is recorded as goodwill. Goodwill of the Company of $4.9 million represents amounts allocated to the assembled workforce from the acquired management company, and is presented in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. The Company’s goodwill has an indeterminate life and is not amortized, but is tested for impairment on an annual basis at December 31, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company takes a qualitative approach to consider whether an impairment of goodwill exists prior to quantitatively determining the fair value of the reporting unit in step one of the impairment test. The Company has recorded no impairments to goodwill through December 31, 2016 . Use of Derivative Financial Instruments The Company records all derivatives on the accompanying Consolidated Balance Sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. In accordance with fair value measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting arrangements on a net basis by counterparty portfolio. Credit risk is the risk of failure of the counterparty to perform under the terms of the contract. The Company minimizes the credit risk in the interest rate swaps by entering into transactions with various high-quality counterparties. The Company’s exposure to credit risk at any point is generally limited to amounts recorded as assets on the accompanying Consolidated Balance Sheets. Fair Value of Financial Instruments Financial instruments include cash and cash equiva

Rental Property

Rental Property	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Real Estate	Rental Property The following table summarizes the components of rental property, net as of December 31, 2016 and December 31, 2015 . Rental Property, net (in thousands) December 31, 2016 December 31, 2015 Land $ 272,162 $ 228,919 Buildings, net of accumulated depreciation of $125,971 and $101,819, respectivel y 1,408,406 1,234,838 Tenant improvements, net of accumulated depreciation of $28,388 and $26,283, respectively 24,974 23,586 Building and land improvements, net of accumulated depreciation of $33,054 and $19,815, respectivel y 107,463 74,694 Construction in progress 9,298 1,658 Deferred leasing intangibles, net of accumulated amortization of $237,456 and $200,758, respectively 294,533 276,272 Total rental property, net $ 2,116,836 $ 1,839,967 Acquisitions The following tables summarize the acquisitions of the Company during the years ended December 31, 2016 and December 31, 2015 . Year ended December 31, 2016 Location of Property Square Feet Buildings Purchase Price (in thousands) Biddeford, ME 265,126 2 $ 12,452 Fairfield, OH 206,448 1 5,330 Mascot, TN 130,560 1 4,500 Erlanger, KY 108,620 1 5,600 Three months ended March 31, 2016 710,754 5 27,882 West Chicago, IL 249,470 1 8,663 Visalia, CA 635,281 1 27,921 Norcross, GA 152,036 1 5,508 Reading, PA 248,000 1 9,594 Charlotte, NC 104,852 1 6,517 Three months ended June 30, 2016 1,389,639 5 58,203 Columbia, SC 185,600 1 7,300 Graniteville, SC 450,000 1 15,675 Fountain Inn, SC 168,087 1 7,025 Langhorne, PA 217,000 2 11,250 Warren, MI 268,000 1 18,700 New Castle, DE 485,987 1 27,500 Westborough, MA 121,700 1 7,885 Cedar Hill, TX 420,000 1 19,100 Forest Park, GA 799,200 2 24,915 Rock Hill, SC 315,520 1 9,850 Gardiner, ME 265,000 1 16,800 Three months ended September 30, 2016 3,696,094 13 166,000 Langhorne, PA 172,647 1 9,500 Grove City, OH 175,512 1 5,400 Olathe, KS 496,373 1 23,194 Houston, TX 223,599 1 13,444 Itasca, IL 202,000 1 20,641 Kenosha, WI 175,052 1 5,975 Oklahoma City, OK 80,400 1 3,400 San Antonio, TX 247,861 1 12,050 Wood Dale, IL 137,607 1 8,565 Hartland, WI 121,050 1 7,400 Earth City, MO 116,783 1 5,450 Spartanburg, SC 572,038 1 20,762 West Columbia, SC 119,852 1 5,725 West Chicago, IL 305,874 5 10,400 DeForest, WI 254,431 1 7,800 Montgomery, AL 332,000 1 8,750 West Chester, OH 269,868 1 11,150 West Columbia, SC 176,400 1 11,850 Brooklyn Park, MN 200,720 1 20,532 East Windsor, CT 126,111 1 7,725 Three months ended December 31, 2016 4,506,178 24 219,713 Year ended December 31, 2016 10,302,665 47 $ 471,798 Year ended December 31, 2015 Location of Property Square Feet Buildings Purchase Price (in thousands) Burlington, NJ 503,490 1 $ 34,883 Greenville, SC 157,500 1 4,800 North Haven, CT 824,727 3 57,400 Three months ended March 31, 2015 1,485,717 5 97,083 Plymouth, MI 125,214 1 6,000 Oakwood Village, OH 75,000 1 4,398 Stoughton, MA 250,213 2 10,675 Oklahoma City, OK 223,340 1 12,135 Clinton, TN 166,000 1 5,000 Knoxville, TN 108,400 1 4,750 Fairborn, OH 258,680 1 9,100 El Paso, TX 126,456 1 9,700 Phoenix, AZ 102,747 1 9,500 Charlotte, NC 123,333 1 7,500 Machesney Park, IL 80,000 1 5,050 Three months ended June 30, 2015 1,639,383 12 83,808 Macedonia, OH 201,519 1 12,192 Novi, MI 125,060 1 8,716 Grand Junction, CO 82,800 1 5,254 Tulsa, OK 175,000 1 13,000 Chattanooga, TN 646,200 3 21,160 Libertyville, IL 287,102 2 11,121 Greer, SC 290,000 4 9,025 Piedmont, SC 400,000 3 12,000 Belvidere, IL 100,000 1 5,938 Conyers, GA 201,403 1 9,880 Three months ended September 30, 2015 2,509,084 18 108,286 Durham, NC 80,600 1 4,200 Charlotte, NC 124,680 1 5,423 Shreveport, LA 420,259 1 11,000 Dayton, OH 205,761 1 8,803 West Allis, WI 241,977 4 9,900 Loudon, TN 104,000 1 5,375 Garland, TX 164,914 1 7,600 Laurens, SC 125,000 1 5,535 Lancaster, PA 240,529 1 9,350 Grand Rapids, MI 301,317 1 9,400 Burlington, NJ 1,048,631 1 61,500 Three months ended December 31, 2015 3,057,668 14 138,086 Year ended December 31, 2015 8,691,852 49 $ 427,263 The following table summarizes the allocation of the consideration paid at the date of acquisition during the years ended December 31, 2016 and December 31, 2015 , respectively, for the acquired assets and liabilities in connection with the acquisitions identified in the tables above. Year ended December 31, 2016 Year ended December 31, 2015 Acquired Assets and Liabilities Purchase price (in thousands) Weighted average amortization period (years) of intangibles at acquisition Purchase price (in thousands) Weighted average amortization period (years) of intangibles at acquisition Land $ 59,630 N/A $ 45,117 N/A Buildings 283,758 N/A 256,970 N/A Tenant improvements 8,670 N/A 7,705 N/A Building and land improvements 29,073 N/A 20,712 N/A Deferred leasing intangibles - In-place leases 62,533 8.2 58,109 5.6 Deferred leasing intangibles - Tenant relationships 30,446 10.4 31,390 8.0 Deferred leasing intangibles - Above market leases 10,576 9.2 11,135 7.3 Deferred leasing intangibles - Below market leases (12,971 ) 8.5 (4,022 ) 5.2 Above market assumed debt adjustment (75 ) 7.2 (418 ) 1.4 Other assets 158 N/A 565 N/A Total purchase price 471,798 427,263 Less: Mortgage notes assumed (4,037 ) (26,267 ) Less: Contingent consideration — (300 ) (1) Net assets acquired $ 467,761 $ 400,696 (1) In connection with the acquisition of the property located in West Allis, WI, the Company withheld $0.3 million that was otherwise due and payable to the seller. Under the terms of the purchase and sale agreement, the Company will pay the full amount to the seller by December 4, 2020, subject to the performance of the tenant under the in-place lease agreement. On September 29, 2016, the Company assumed a mortgage note of approximately $4.0 million in connection with the acquisition of the property located in Rock Hill, SC. On September 29, 2015, the Company assumed a mortgage note of approximately $5.7 million in connection with the acquisition of the property located in Conyers, GA. On June 25, 2015, the Company assumed a mortgage note of approximately $4.9 million in connection with the acquisition of the property located in Charlotte, NC. For a discussion of the method used to determine the fair value of the mortgage notes, see Note 4. On January 22, 2015, the Company acquired a property located in Burlington, NJ for approximately $34.9 million . As consideration for the property acquired, the Company (i) granted 812,676 Other Common Units with a fair value of approximately $21.9 million , (ii) paid approximately $1.2 million in cash, (iii) and assumed an approximately $11.8 million mortgage note. The mortgage note was paid in full immediately subsequent to the acquisition. On December 11, 2015, the Company acquired a property located in Laurens, SC for approximately $5.5 million . As consideration for the property acquired, the Company (i) granted 51,607 Other Common Units with a fair value of approximately $1.0 million , (ii) paid approximately $0.6 million in cash, (iii) and assumed an approximately $3.9 million mortgage note. The mortgage note was paid in full immediately subsequent to the acquisition. For a discussion of the method used to determine the fair value of the Other Common Units issued, see Note 7. The table below sets forth the results of operations for the years ended December 31, 2016 and December 31, 2015 for the properties acquired during the years ended December 31, 2016 and December 31, 2015 , respectively, included in the Company’s Consolidated Statements of Operations from the date of acquisition. Results of Operations (in thousands) Year ended December 31, 2016 Year ended December 31, 2015 Revenue $ 13,105 $ 17,879 Property acquisition costs $ 4,386 $ 4,382 Net loss $ 3,560 $ 3,052 The following tables set forth pro forma information for the years ended December 31, 2016 and December 31, 2015 . The below pro forma information does not purport to represent what the actual results of operations of the Company would have been had the acquisitions outlined above occurred on the first day of the applicable reporting period, nor do they purport to predict the results of operations of future periods. The pro forma information has not been adjusted for property sales. Pro Forma (in thousands) (1) Year ended December 31, 2016 Total revenue $ 277,811 Net income $ 46,139 (2) Net income attributable to common stockholders $ 30,269 Pro Forma (in thousands) (3) Year ended December 31, 2015 Total revenue $ 282,235 Net loss $ 42,617 (2) Net loss attributable to common stockholders $ 53,850 (1) The unaudited pro forma information for the year ended December 31, 2016 is presented as if the properties acquired during the year ended December 31, 2016 had occurred at January 1, 2015 , the beginning of the reporting period prior to acquisition. (2) The net loss for the year ended December 31, 2016 excludes approximately $4.4 million of property acquisition costs related to the acquisition of buildings that closed during the year ended December 31, 2016 , and the net loss for the year ended December 31, 2015 was adjusted to include these acquisition costs. Net loss for the year ended December 31, 2015 excludes approximately $4.4 million of property acquisition costs related to the acquisition of buildings that closed during the year ended December 31, 2015 . (3) The unaudited pro forma information for the year ended December 31, 2015 is presented as if the properties acquired during the year ended December 31, 2016 and the properties acquired during the year ended December 31, 2015 had occurred at January 1, 2015 and January 1, 2014 , respectively, the beginning of the reporting period prior to acquisition. Dispositions During the year ended December 31, 2016 , the Company sold 24 buildings comprised of approximately 4.2 million square feet with a net book value of approximately $90.3 million to third parties. These buildings contributed approximately $11.2 million to revenue (exclusive of termination income and acceleration of straight line rent) and approximately $1.3 million to net income (exclusive of termination income, acceleration of straight line rent, loss on impairments, loss on extinguishment of debt, and gain on the sales of rental property, net) for the year ended December 31, 2016 . Net proceeds from the sales of rental property were approximately $152.1 million and the Company recognized a gain on the sales of rental property, net of approximately $61.8 million for the year ended December 31, 2016 . All of the dispositions were accounted for under the full accrual method. During the year ended December 31, 2015 , the Company sold six buildings comprised of approximately 0.8 million square feet with a net book value of approximately $17.2 million to third parties. These buildings contributed approximately $2.0 million to revenue (exclusive of termination income and acceleration of straight line rent and above market rent) and approximately $0.8 million to net income (exclusive of loss on impairments, gain on the sales of rental property, net, termination income, and acceleration of straight line rent and lease intangibles) for the year ended December 31, 2015 . Net proceeds from the sales of rental property were approximately $22.2 million and the Company recognized a gain on the sales of rental property, net of approximately $5.0 million for the year ended December 31, 2015 . All of the dispositions were accounted for under the full accrual method. During the year ended December 31, 2014 , the Company sold four buildings comprised of approximately 0.4 million square feet with a net book value of approximately $10.2 million to third parties. These buildings contributed approximately $1.2 million to revenue (exclusive of termination income and acceleration of straight line rent and above market rent) and approximately $0.2 million to net income (exclusive of gain on the sales of rental property, net, loss on impairments, termination income and acceleration of straight line rent and above market rent) for the year ended December 31, 2014 . Net proceeds from the sales of rental property were approximately $13.0 million and the Company recognized a gain on the sales of rental property, net of approximately $2.8 million for the year ended December 31, 2014 . All of the dispositions were accounted for under the full accrual method. Loss on Impairments The Company regularly reviews its portfolio and identifies properties for potential disposition. The Company reviews its current properties for disposition to realize value created in the portfolio and enhance the quality of the portfolio by disposing of underperforming assets. As a result of this regular review, several properties were tested for impairment due to the change in the Company's estimated hold period of those properties. The following table summarizes the Company's loss on impairments for assets held and used during the year ended December 31, 2016 . Property Location Buildings Event or Change in Circumstance Leading to Impairment Evaluation (1) Valuation technique utilized to estimate fair value Fair Value (2) Loss on Impairments (in thousands) Fairfield, VA 1 Change in estimated hold period (3) Executed purchase and sale agreement Jackson, MS 1 Change in estimated hold period (3) Executed purchase and sale agreement Jackson, MS 1 Change in estimated hold period (3) Executed purchase and sale agreement Mishawaka, IN 1 Market leasing conditions (3) Discounted cash flows (4) Newark, DE 1 Market leasing conditions Discounted cash flows (4) Seville, OH 2 Market leasing conditions Discounted cash flows (4) Sparks, MD 2 Change in estimated hold period Discounted cash flows (4) Three months ended June 30, 2016 $ 10,598 $ 11,231 Boardman, OH 1 Change in estimated hold period Discounted cash flows (5) Holland, MI 1 Change in estimated hold period (3) Discounted cash flows (5) Pensacola, FL 1 Change in estimated hold period (3) Discounted cash flows (5) Three months ended December 31, 2016 $ 4,360 $ 5,614 Year ended December 31, 2016 $ 14,958 $ 16,845 (1) The Company tested the asset group for impairment utilizing a probability weighted recovery analysis of certain scenarios, and it was determined that the carrying value of the property and intangibles were not recoverable from the estimated future undiscounted cash flows. (2) The estimated fair value of the property is based on Level 3 inputs and is a non-recurring fair value measurement. (3) This property was sold during the year ended December 31, 2016. (4) Level 3 inputs used to determine fair value for the properties impaired for the three months ended June 30, 2016: discount rates ranged from 8.5% to 13.0% and exit capitalization rates ranged from 8.5% to 12.0% . (5) Level 3 inputs used to determine fair value for the properties impaired for the three months ended December 31, 2016 : discount rate of 12.0% and exit capitalization rates ranging from 10.0% to 12.0% . The following table summarizes the Company's loss on impairments for assets held and used during the year ended December 31, 2015 . Property Location Buildings Event or Change in Circumstance Leading to Impairment Evaluation (1) Valuation technique utilized to estimate fair value Fair Value (2) Loss on Impairments (in thousands) Hazelwood, MO 1 Change in estimated hold period (3) Executed purchase and sale agreement Three months ended June 30, 2015 $ 4,400 $ 2,645 Canton, OH 1 Change in estimated hold period (4) Discounted cash flows (5) Jefferson, NC 1 Change in estimated hold period (3) Market transactions for comparable properties Milwaukee, WI 1 Change in estimated hold period (3) Market transactions for comparable properties Three months ended September 30, 2015 6,515 5,733 Canton, OH 1 Change in estimated hold period (6) Market transactions for comparable properties (7) Cincinnati, OH 1 Change in estimated hold period Discounted cash flows (8) Dayton, OH 1 Change in estimated hold period (6) Discounted cash flows (8) Gloversville, NY 1 Change in estimated hold period (6) Discounted cash flows (8) Jackson, MS 1 Change in estimated hold period (6) Discounted cash flows (8) Jackson, MS 1 Change in estimated hold period (6) Discounted cash flows (8) Rapid City, SD 1 Change in estimated hold period Discounted cash flows (8) Sergeant Bluff, IA 1 Change in estimated hold period Discounted cash flows (8) Sparks, MD 2 Change in estimated hold period Discounted cash flows (8) Three months ended December 31, 2015 22,238 20,894 Year ended December 31, 2015 $ 33,153 $ 29,272 (1) The Company tested the asset group for impairment utilizing a probability weighted recovery analysis of certain scenarios, and it was determined that the carrying value of the property and intangibles were not recoverable from the estimated future undiscounted cash flows. (2) The estimated fair value of the property is based on Level 3 inputs and is a non-recurring fair value measurement. (3) This property was sold during the year ended December 31, 2015. (4) The letter of intent for the property included various contingencies, and was terminated subsequent to September 30, 2015. (5) Level 3 inputs used to determine fair value: discount rate of 9.0% and exit capitalization rate of 12.0% (6) This property was sold during the year ended December 31, 2016. (7) The future cash flows of the existing building were not estimated to generate a net positive cash flow. Accordingly, the property was valued at its highest and best use as a vacant/developable land parcel. Market transactions for comparable properties were utilized to estimate a land value. Estimated fair market value of the property represents the land value, less estimated expense of demolition of the building, plus estimated salvage value. (8) Level 3 inputs used to determine fair value for the properties impaired for the three months ended December 31, 2015: discount rates ranged from 8.5% to 16.0% and exit capitalization rates ranged from 8.0% to 14.0% . On October 29, 2014, the Company entered into a lease termination agreement with the tenant located at the Tavares, FL property. The agreement provided that the tenant’s lease termination was contingent upon the sale of the property and required the tenant to pay a termination fee of approximately $2.4 million , including reimbursement of costs related to the sale of the property. The tenant’s termination, which was effective December 30, 2014, triggered the Company to test the property for impairment. The Company tested the asset group for impairment utilizing a probability weighted recovery analysis of certain scenarios, and it was determined that the carrying value of the property and intangibles were not recoverable from the estimated future undiscounted cash flows. Accordingly, the property was written down to its estimated fair value of approximately $2.5 million based on pricing obtained from third party market participants and the Company recorded an impairment loss of approximately $2.8 million . This loss was recorded in loss on impairments on the accompanying Consolidated Statements of Operations for the three months ended December 31, 2014. The fair value of the property is based on Level 3 inputs and this is a non-recurring fair value measurement. Involuntary Conversion On September 1, 2016 the Company had an involuntary conversion event, and the Company recorded an estimated loss on involuntary conversion of approximately $2.8 million for the year ended December 31, 2016. The Company's insurance policy provides coverage for these losses, and accordingly the loss on involuntary conversion was fully offset by the expected insurance proceeds. As of December 31, 2016, the remaining proceeds receivable from the insurance company are estimated to be approximately $1.4 million , which are included in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. Deferred Leasing Intangibles The following table summarizes the deferred leasing intangibles on the accompanying Consolidated Balance Sheets as of December 31, 2016 and December 31, 2015 . December 31, 2016 December 31, 2015 Deferred Leasing Intangibles (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Above market leases $ 70,668 $ (32,868 ) $ 37,800 $ 69,815 $ (31,554 ) $ 38,261 Other intangible lease assets 461,321 (204,588 ) 256,733 407,215 (169,204 ) 238,011 Total deferred leasing intangible assets $ 531,989 $ (237,456 ) $ 294,533 $ 477,030 $ (200,758 ) $ 276,272 Below market leases $ 30,791 $ (10,450 ) $ 20,341 $ 19,923 $ (8,536 ) $ 11,387 Total deferred leasing intangible liabilities $ 30,791 $ (10,450 ) $ 20,341 $ 19,923 $ (8,536 ) $ 11,387 The following table sets forth the amortization expense and the net decrease to rental income for the amortization of deferred leasing intangibles during the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 . Year ended December 31, Deferred Leasing Intangibles Amortization (in thousands) 2016 2015 2014 Net decrease to rental income related to above and below market lease amortization $ 6,213 $ 8,526 $ 6,254 Amortization expense related to other intangible lease assets $ 66,291 $ 60,834 $ 50,319 The following table sets forth the amortization of deferred leasing intangibles over the next five years as of December 31, 2016 . Year Amortization Expense Related to Other Intangible Lease Assets (in thousands) Net Decrease to Rental Income Related to Above and Below Market Lease Amortization (in thousands) 2017 $ 63,474 $ 4,514 2018 $ 50,375 $ 3,383 2019 $ 38,258 $ 2,813 2020 $ 29,681 $ 2,402 2021 $ 20,915 $ 1,288

Debt

Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt The following table sets forth a summary of the Company’s outstanding indebtedness, including borrowings under the Company’s unsecured credit facility, unsecured term loans, unsecured notes and mortgage notes as of December 31, 2016 and December 31, 2015 . Loan Principal outstanding as of December 31, 2016 (in thousands) Principal outstanding as of December 31, 2015 (in thousands) Interest (1) Current Maturity Prepayment Terms (2) Unsecured credit facility: Unsecured Credit Facility (3) $ 28,000 $ 56,000 L + 1.15% Dec-18-2019 i Total unsecured credit facility 28,000 56,000 Unsecured term loans: Unsecured Term Loan C 150,000 — L + 1.30% Sep-29-2020 i Unsecured Term Loan B 150,000 150,000 L + 1.30% Mar-21-2021 i Unsecured Term Loan A 150,000 150,000 L + 1.30% Mar-31-2022 i Total unsecured term loans 450,000 300,000 Less: Total unamortized deferred financing fees and debt issuance costs (3,392 ) (3,382 ) Total carrying value unsecured term loans 446,608 296,618 Unsecured notes: Series F Unsecured Notes 100,000 100,000 3.98 % Jan-05-2023 ii Series A Unsecured Notes 50,000 50,000 4.98 % Oct-1-2024 ii Series D Unsecured Notes 100,000 100,000 4.32 % Feb-20-2025 ii Series B Unsecured Notes 50,000 50,000 4.98 % Jul-1-2026 ii Series C Unsecured Notes 80,000 80,000 4.42 % Dec-30-2026 ii Series E Unsecured Notes 20,000 20,000 4.42 % Feb-20-2027 ii Total unsecured notes 400,000 400,000 Less: Total unamortized deferred financing fees and debt issuance costs (2,034 ) (2,280 ) Total carrying value unsecured notes 397,966 397,720 Mortgage notes (secured debt): Sun Life Assurance Company of Canada (U.S.) — 3,229 6.05 % Jun-1-2016 iii Webster Bank, National Association — 5,513 4.22 % Aug-4-2016 iii National Life Insurance Company — 4,775 5.75 % Aug-10-2016 iii Union Fidelity Life Insurance Co. 5,384 5,754 5.81 % Apr-30-2017 iv Principal Life Insurance Company — 5,676 5.73 % May-05-2017 iii Webster Bank, National Association 2,853 2,945 3.66 % May-29-2017 iii Webster Bank, National Association 3,073 3,172 3.64 % May-31-2017 iii Wells Fargo, National Association 4,043 4,115 5.90 % Aug-1-2017 v Connecticut General Life Insurance Company -1 Facility 35,320 57,171 6.50 % Feb-1-2018 vi Connecticut General Life Insurance Company -2 Facility 36,892 58,085 5.75 % Feb-1-2018 vi Connecticut General Life Insurance Company -3 Facility 16,141 16,401 5.88 % Feb-1-2018 vi Wells Fargo, National Association CMBS Loan 56,608 63,897 4.31 % Dec-1-2022 vii Thrivent Financial for Lutherans 4,012 — 4.78 % Dec-15-2023 iii Total mortgage notes 164,326 230,733 Total unamortized fair market value premiums 112 447 Less: Total unamortized deferred financing fees and debt issuance costs (873 ) (1,270 ) Total carrying value mortgage notes 163,565 229,910 Total / weighted average interest rate (4) $ 1,036,139 $ 980,248 3.75 % (1) Current interest rate as of December 31, 2016 . At December 31, 2016 and December 31, 2015 , the one-month LIBOR (“L”) was 0.77167% and 0.42950% , respectively. The current interest rate is not adjusted to include the amortization of deferred financing fees or debt issuance costs incurred in obtaining debt or any unamortized fair market value premiums. (2) Prepayment terms consist of (i) pre-payable with no penalty; (ii) pre-payable with penalty; (iii) pre-payable without penalty three months prior to the maturity date; (iv) pre-payable without penalty two months prior to the maturity date; (v) pre-payable without penalty three months prior to the maturity date; however, can be defeased; (vi) pre-payable without penalty six months prior to the maturity date; and (vii) pre-payable without penalty three months prior to the maturity date; however, can be defeased beginning January 1, 2016. (3) The capacity of the unsecured credit facility is currently $450.0 million . (4) The weighted average interest rate was calculated using the fixed interest rate swapped on the current notional amount of $450.0 million of debt, and is not adjusted to include the amortization of deferred financing fees or debt issuance costs incurred in obtaining debt or any unamortized fair market value premiums. The aggregate undrawn nominal commitments on the unsecured credit facility as of December 31, 2016 was approximately $418.5 million , including issued letters of credit. The Company's actual borrowing capacity at any given point in time may be less and is restricted to a maximum amount based on the Company's debt covenant compliance. Total accrued interest for the Company's indebtedness was approximately $5.7 million and $3.8 million as of December 31, 2016 and December 31, 2015 , respectively, and is included in accounts payable, accrued expenses and other liabilities on the accompanying Consolidated Balance Sheets. Deferred financing fees and debt issuance costs, net of accumulated amortization included in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets were approximately $2.3 million and $3.0 million as of December 31, 2016 and December 31, 2015 , respectively. Deferred financing fees and debt issuance costs, net of accumulated amortization included as a direct deduction from the related debt liability on the accompanying Consolidated Balance Sheets were approximately $6.3 million and $6.9 million as of December 31, 2016 and December 31, 2015 , respectively. For the years ended December 31, 2016 , December 31, 2015 , and December 31, 2014 , amortization of deferred financing fees and debt issuance costs included in interest expense in the accompanying Consolidated Statements of Operations was approximately $1.9 million , $1.5 million and $1.3 million , respectively. Also included in interest expense is approximately $1.0 million , $0.7 million , and $0.1 million of facility fees related to the Company's unsecured credit facility for the years ended December 31, 2016 , December 31, 2015 , and December 31, 2014 , respectively. 2016 Debt Activity On December 29, 2016, the Company drew the unsecured term loan with Wells Fargo, National Association and other lenders ("Unsecured Term Loan C") in the amount of $150.0 million . The Company incurred approximately $0.3 million and $26,000 in unused fees related to the Unsecured Term Loan C for the years ended December 31, 2016 and December 31, 2015, respectively. On December 20, 2016, the Company amended and restated the unsecured term loans with Wells Fargo, National Association and other lenders ("Unsecured Term Loan A" and "Unsecured Term Loan B"). The transaction reduced the spread over the applicable rate, which is based on the Company's consolidated leverage ratio, as defined in the loan agreement, with no changes to maturity dates or other material terms of the loan. The spread over the LIBOR for the Unsecured Term Loan A was reduced from 1.65% to 1.30%, and the spread over the LIBOR for the Unsecured Term Loan B was reduced from 1.70% to 1.30%, assuming the most recently reported consolidated leverage ratios. On December 8, 2016, the mortgage note held with Connecticut General Life Insurance Company (Facility 2) was partially paid in the amount of approximately $3.6 million in connection with the sale of the Georgetown, KY property, which had served as partial collateral for the mortgage note. The prepayment fees and associated unamortized deferred financing fees and debt issuance costs of approximately $0.1 million were written off to loss on extinguishment of debt in the accompanying Consolidated Statements of Operations during the year ended December 31, 2016 . On November 14, 2016, the mortgage note held with Connecticut General Life Insurance Company (Facility 2) was partially paid in the amount of approximately $6.2 million in connection with the sale of the Conyers, GA property, which had served as partial collateral for the mortgage note. The prepayment fees and associated unamortized deferred financing fees and debt issuance costs of approximately $0.2 million were written off to loss on extinguishment of debt in the accompanying Consolidated Statements of Operations during the year ended December 31, 2016 . On November 14, 2016, the mortgage note held with Connecticut General Life Insurance Company (Facility 1) was partially paid in the amount of approximately $21.0 million in connection with the sale of the Charlotte, NC property, which had served as partial collateral for the mortgage note. The prepayment fees and associated unamortized deferred financing fees and debt issuance costs of approximately $0.9 million were written off to loss on extinguishment of debt in the accompanying Consolidated Statements of Operations during the year ended December 31, 2016 . On November 14, 2016, the mortgage note held with Principal Life Insurance Company, for which the property located in Conyers, GA served as collateral for the mortgage note, was paid in full. The prepayment fees and associated unamortized deferred financing fees and debt issuance costs of approximately $0.1 million were written off to loss on extinguishment of debt in the accompanying Consolidated Statements of Operations during the year ended December 31, 2016 . On September 29, 2016, the Company assumed a mortgage note held with Thrivent Financial for Lutherans of approximately $4.0 million in connection with the acquisition of the property located in Rock Hill, SC, which serves as collateral for the debt. The debt matures on December 15, 2023 and bears interest at 4.78% per annum. The assumed debt was recorded at fair value and a fair value premium of approximately $0.1 million was recorded. The fair value of debt was determined by discounting the future cash flows using the then current rate of approximately 4.45% at which loans would be made to borrowers with similar credit ratings for loans with similar remaining maturities, similar terms, and similar loan-to-value ratios. The fair value of the debt is based on Level 3 inputs and is a nonrecurring fair value measurement. On June 22, 2016, the mortgage note held with Wells Fargo, National Association (CMBS loan) was partially defeased in the amount of approximately $1.5 million in connection with the sale of the Gloversville, NY property, which had served as partial collateral for the mortgage note. The associated defeasance fees and unamortized deferred financing fees and debt issuance costs of approximately $0.3 million were written off to loss on extinguishment of debt in the accompanying Consolidated Statement of Operations for the year ended December 31, 2016 . On May 18, 2016, the mortgage note held with National Life Insurance Company, for which the property located in Charlotte, NC served as collateral, was paid in full. On May 5, 2016, the mortgage note held with Webster Bank, National Association, for which the property located in Norton, MA served as collateral, was paid in full. On April 26, 2016, the mortgage note held with Wells Fargo, National Association (CMBS loan) was partially defeased in the amount of approximately $1.7 million in connection with the sale of the Parsons, KS property, which had served as partial collateral for the mortgage note. The associated defeasance fees and unamortized deferred financing fees and debt issuance costs of approximately $0.2 million were written off to loss on extinguishment of debt in the accompanying Consolidated Statement of Operations for the year ended December 31, 2016 . On April 26, 2016, the mortgage note held with Wells Fargo, National Association (CMBS loan) was partially defeased in the amount of approximately $1.8 million in connection with the sale of the Kansas City, KS property, which had served as partial collateral for the mortgage note. The associated defeasance fees and unamortized deferred financing fees and debt issuance costs of approximately $0.3 million were written off to loss on extinguishment of debt in the accompanying Consolidated Statement of Operations for the year ended December 31, 2016 . On March 17, 2016, the mortgage note held with Connecticut General Life Insurance Company (Facility 2) was partially paid in the amount of approximately $10.5 million in connection with the sale of the Gresham, OR property, which had served as partial collateral for the mortgage note. The prepayment fees and associated unamortized deferred financing fees and debt issuance costs of approximately $0.9 million were written off to loss on extinguishment of debt in the accompanying Consolidated Statement of Operations during the year ended December 31, 2016 . On March 3, 2016, the mortgage note held with Wells Fargo, National Association (CMBS loan) was partially defeased in the amount of approximately $1.2 million in connection with the sale of the Wichita, KS property, which had served as partial collateral for the mortgage note. The associated defeasance fees and unamortized deferred financing fees and debt issuance costs of approximately $0.2 million were written off to loss on extinguishment of debt in the accompanying Consolidated Statement of Operations during the year ended December 31, 2016 . On March 1, 2016 the mortgage note held with Sun Life Assurance Company of Canada (U.S.), for which the property located in Gahanna, OH served as collateral, was paid in full. 2015 Debt Activity On January 22, 2015, the Company assumed a mortgage note of approximately $11.8 million in connection with the acquisition of the Burlington, NJ property. The mortgage note was paid in full immediately subsequent to the acquisition. On February 20, 2015, the Company issued $100 million of its 4.32% Series D 10 -year unsecured notes ("Series D Unsecured Notes") and $20 million of its 4.42% Series E 12 -year unsecured notes ("Series E Unsecured Notes"). On June 25, 2015, the Company assumed a mortgage note with National Life Insurance Company of approximately $4.9 million in connection with the acquisition of the property located in Charlotte, NC, which serves as collateral for the debt. The debt matures on August 10, 2016 and bears interest at 5.75% per annum. The assumed debt was recorded at fair value and a fair value premium of approximately $0.1 million was recorded. The fair value of debt was determined by discounting the future cash flows using the then current rate of approximately 3.05% at which loans would be made to borrowers with similar credit ratings for loans with similar remaining maturities, similar terms, and similar loan-to-value ratios. The fair value of the debt is based on Level 3 inputs and is a non-recurring fair value measurement. On September 29, 2015, the Company assumed a mortgage note with Principal Life Insurance Company of approximately $5.7 million in connection with the acquisition of the property located in Conyers, GA, which serves as collateral for the debt. The debt matures on May 5, 2017 and bears interest at 5.73% per annum. The assumed debt was recorded at fair value and a fair value premium of approximately $0.3 million was recorded. The fair value of debt was determined by discounting the future cash flows using the then current rate of approximately 2.64% at which loans would be made to borrowers with similar credit ratings for loans with similar remaining maturities, similar terms, and similar loan-to-value ratios. The fair value of the debt is based on Level 3 inputs and is a non-recurring fair value measurement. On September 29, 2015, the Company entered into an amendment to the current unsecured credit facility with Wells Fargo, N.A. ("Unsecured Credit Facility") to increase the capacity thereunder to $450.0 million . Additionally, the accordion feature that allows the Company to request an increase in the aggregate commitments (subject to satisfaction of conditions and lender consent) was increased, such that if the accordion were exercised in full, total capacity would be $800.0 million . The material terms of the agreement, including the financial covenants, were unchanged. The Company incurred approximately $1.0 million in deferred financing fees, which are amortized over the remaining term of the Unsecured Credit Facility. On September 29, 2015, the Company closed the $150.0 million Unsecured Term Loan C with the following terms. Applicable Terms Unsecured Term Loan C Maturity Date: Sep-29-2020 Eurodollar Rate (1) : L + 130.0 bps - 190.0 bps Base Rate (1) : Base rate + 30.0 bps - 90.0 bps Unused Fees (2) : 17.5 bps Annual Fee: $50,000 (1) The spread over the applicable rate is currently based on the Company's consolidated leverage ratio, as defined in the loan agreement. (2) The unused fees began to accrue on November 29, 2015 and were due and payable monthly until all commitments were drawn. The Unsecured Term Loan C has an accordion feature that allows the Company to increase its borrowing capacity to $250.0 million , subject to the satisfaction of certain conditions and lender consents. The Company incurred $1.0 million in deferred financing fees associated with the closing of the Unsecured Term Loan C, which are amortized over its five year term. The agreement includes a delayed draw feature that allowed the Company to draw up to six advances of at least $25.0 million each. As noted above, the Company drew the full $150.0 million of the Unsecured Term Loan C on December 29, 2016. The Company and certain wholly owned subsidiaries of the Operating Partnership are guarantors of the Unsecured Term Loan C. The agreement also contains financial covenants substantially similar to the financial covenants in the Unsecured Credit Facility. On December 1, 2015, the Company entered into a Note Purchase Agreement (“NPA”) for a $100.0 million private placement by the Operating Partnership of $100.0 million senior unsecured notes (“Series F Unsecured Notes”). Pursuant to the NPA, borrowings under the Series F Unsecured Notes bear interest at a fixed rate of 3.98% . The Series F Unsecured Notes were issued on December 15, 2015. Upon all the funds being drawn, the Company paid a placement fee equal to 0.50% of the principal amount of the securities purchased by investors. The Company and certain wholly owned subsidiaries of the Operating Partnership are guarantors of the Series F Unsecured Note and the obligations under the Series F Unsecured Notes rank pari passu to the Company’s unsecured senior indebtedness, which includes the Wells Fargo Unsecured Credit Facility and unsecured term loans. The Company incurred approximately $0.6 million in deferred financing fees associated with the Series F Unsecured Notes, which are amortized over the seven year term. On December 1, 2015, the Company amended the terms of the NPAs entered into on April 16, 2014 and December 18, 2014. The second amendment to the April 16, 2014 NPA and the first amendment to the December 18, 2014 NPA amended certain provisions to conform them to the provisions in the NPA entered into on December 1, 2015. On December 11, 2015, the Company assumed a mortgage note of approximately $3.9 million in connection with the acquisition of the Laurens, SC property. The mortgage note was paid in full immediately subsequent to the acquisition. On December 16, 2015, the Company drew the Unsecured Term Loan B in the amount of $150.0 million . Financial Covenant Considerations The Company’s ability to borrow under the unsecured credit facility, unsecured term loans, and unsecured notes are subject to its ongoing compliance with a number of customary financial covenants, including: • a maximum consolidated leverage ratio of not greater than 0.60 :1.00; • a maximum secured leverage ratio of not greater than 0.40 :1.00; • a maximum unencumbered leverage ratio of not greater than 0.60 :1.00; • a maximum secured recourse debt level of not greater than 0.075 :1.00; • a minimum fixed charge ratio of not less than 1.50 :1.00; • a minimum unsecured interest coverage ratio of not less than 1.75 :1.00; and • a minimum tangible net worth covenant test. The unsecured notes are also subject to a minimum interest coverage ratio of not less than 1.50 :1.00. The Company was in compliance with all such applicable restrictions and financial covenants as of December 31, 2016 and December 31, 2015 . In the event of a default under the unsecured credit facility or the unsecured term loans, the Company’s dividend distributions are limited to the minimum amount necessary for the Company to maintain its status as a REIT. Each of the Company’s mortgage notes has specific properties and assignments of rents and leases that are collateral for these loans. These debt facilities contain certain financial and other covenants. The Company was in compliance with all such applicable restrictions and financial covenants as of December 31, 2016 and December 31, 2015 . The real estate net book value of the properties that are collateral for the Company’s mortgage notes was approximately $229.9 million and $268.8 million at December 31, 2016 and December 31, 2015 , respectively, and is limited to senior, property-level secured debt financing arrangements. The 17 properties held as collateral for the facilities with Connecticut General Life Insurance Company are cross-defaulted and cross-collateralized among the respective facilities. Fair Value of Debt The fair value of the Company’s debt is determined by discounting the future cash flows using the current rates at which loans would be made to borrowers with similar credit ratings for loans with similar remaining maturities, similar terms, and similar loan-to-value ratios. The discount rates ranged from approximately 1.92% to 4.85% and 1.58% to 4.82% at December 31, 2016 and December 31, 2015 , respectively, and were applied to each individual debt instrument. The applicable fair value guidance establishes a three tier value hierarchy, which prioritizes the inputs used in measuring fair value. The fair value of the Company’s debt is based on Level 3 inputs. The following table presents the aggregate principal outstanding of the Company’s debt and the corresponding estimate of fair value as of December 31, 2016 and December 31, 2015 (in thousands). December 31, 2016 December 31, 2015 Principal Outstanding Fair Value Principal Outstanding Fair Value Unsecured credit facility $ 28,000 $ 28,000 $ 56,000 $ 56,000 Unsecured term loans 450,000 450,000 300,000 303,457 Unsecured notes 400,000 399,091 400,000 392,054 Mortgage notes 164,326 166,099 230,733 237,327 Total principal amount 1,042,326 $ 1,043,190 986,733 $ 988,838 Add: Total unamortized fair market value premiums 112 447 Less: Total unamortized deferred financing fees and debt issuance costs (6,299 ) (6,932 ) Total carrying value $ 1,036,139 $ 980,248 Future Principal Payments of Debt The following table reflects the Company’s aggregate future principal payments of the Company’s debt at December 31, 2016 . Year Future Principal Payments of Debt (in thousands) 2017 $ 18,737 2018 88,578 2019 29,926 2020 152,006 2021 152,103 Thereafter 600,976 Total aggregate principal payments 1,042,326 Total unamortized fair market value premiums 112 Less: Total unamortized deferred financing fees and debt issuance costs (6,299 ) Total carrying value $ 1,036,139

Use of Derivative Financial Ins

Use of Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Use of Derivative Financial Instruments	Use of Derivative Financial Instruments Risk Management Objective of Using Derivatives The Company’s use of derivative instruments is limited to the utilization of interest rate swaps to manage interest rate risk exposure on existing and future liabilities and not for speculative purposes. The principal objective of such arrangements is to minimize the risks and related costs associated with the Company’s operating and financial structure. The following table details the Company’s outstanding interest rate swaps as of December 31, 2016 . Interest Rate Trade Date Effective Date Notional Amount Fair Value Pay Fixed Interest Rate Receive Variable Interest Rate Maturity Date PNC Bank, N.A. Sep-14-2012 Oct-10-2012 $ 10,000 $ 6 0.7945 % One-month L Sep-10-2017 Bank of America, N.A. Sep-14-2012 Oct-10-2012 $ 10,000 $ 6 0.7945 % One-month L Sep-10-2017 UBS AG Sep-14-2012 Oct-10-2012 $ 10,000 $ 6 0.7945 % One-month L Sep-10-2017 Royal Bank of Canada Sep-14-2012 Oct-10-2012 $ 10,000 $ 6 0.7945 % One-month L Sep-10-2017 RJ Capital Services, Inc. Sep-14-2012 Oct-10-2012 $ 10,000 $ 5 0.7975 % One-month L Sep-10-2017 Bank of America, N.A. Sep-20-2012 Oct-10-2012 $ 25,000 $ 21 0.7525 % One-month L Sep-10-2017 RJ Capital Services, Inc. Sep-24-2012 Oct-10-2012 $ 25,000 $ 26 0.7270 % One-month L Sep-10-2017 Regions Bank Mar-01-2013 Mar-01-2013 $ 25,000 $ 131 1.3300 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Jul-01-2013 $ 50,000 $ (274 ) 1.6810 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Aug-01-2013 $ 25,000 $ (154 ) 1.7030 % One-month L Feb-14-2020 Regions Bank Sep-30-2013 Feb-03-2014 $ 25,000 $ (378 ) 1.9925 % One-month L Feb-14-2020 The Toronto-Dominion Bank Oct-14-2015 Sep-29-2016 $ 25,000 $ 217 1.3830 % One-month L Sep-29-2020 PNC Bank, N.A. Oct-14-2015 Sep-29-2016 $ 50,000 $ 421 1.3906 % One-month L Sep-29-2020 Regions Bank Oct-14-2015 Sep-29-2016 $ 35,000 $ 292 1.3858 % One-month L Sep-29-2020 U.S. Bank, N.A. Oct-14-2015 Sep-29-2016 $ 25,000 $ 207 1.3950 % One-month L Sep-29-2020 Capital One, N.A. Oct-14-2015 Sep-29-2016 $ 15,000 $ 123 1.3950 % One-month L Sep-29-2020 Royal Bank of Canada Jan-08-2015 Mar-20-2015 $ 25,000 $ (16 ) 1.7090 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Mar-20-2015 $ 25,000 $ (18 ) 1.7105 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Sep-10-2017 $ 100,000 $ (1,240 ) 2.2255 % One-month L Mar-21-2021 Wells Fargo, N.A. Jan-08-2015 Mar-20-2015 $ 25,000 $ 4 1.8280 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jan-08-2015 Feb-14-2020 $ 25,000 $ (50 ) 2.4535 % One-month L Mar-31-2022 Regions Bank Jan-08-2015 Feb-14-2020 $ 50,000 $ (133 ) 2.4750 % One-month L Mar-31-2022 Capital One, N.A. Jan-08-2015 Feb-14-2020 $ 50,000 $ (175 ) 2.5300 % One-month L Mar-31-2022 On October 24, 2014, the Company entered into two forward starting interest rate swap agreements for a total notional amount of $170.0 million to hedge the risk of changes in the interest-related cash flows associated with the potential issuance of long-term debt. The forward starting swaps were designated as cash flow hedges of interest rate risk and were terminated on November 21, 2014. The Company paid a termination payment of approximately $0.4 million to the two counterparties. The forward starting interest rate swaps effectively removed the exposure to the variability in future cash flows of the Series D Unsecured Notes, and the $80 million series C 12 -year unsecured notes ("Series C Unsecured Notes") and Series E Unsecured Notes at 2.452% and 2.615% , respectively. The settlement value of approximately $0.4 million was recorded in accumulated other comprehensive loss in the Consolidated Balance Sheets and will be amortized through interest expense over the life of the respective unsecured notes. The Series C Unsecured Notes were issued on December 30, 2014 and the Series D Unsecured Notes and the Series E Unsecured Notes were issued on February 20, 2015 (refer to Note 4 for further details). The fair value of the interest rate swaps outstanding as of December 31, 2016 and December 31, 2015 was as follows. Balance Sheet Line Item (in thousands) Notional Amount December 31, 2016 Fair Value December 31, 2016 Notional Amount December 31, 2015 Fair Value December 31, 2015 Interest rate swaps-Asset $ 300,000 $ 1,471 $ 275,000 $ 1,867 Interest rate swaps-Liability $ 375,000 $ (2,438 ) $ 400,000 $ (3,766 ) Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate swaps are to add stability to interest expense and to manage its exposure to interest rate movements. The Company uses interest rate swaps to fix the rate of its long term variable rate debt. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The effective portion of changes in the fair value of derivatives designated and qualified as cash flow hedges is recorded in accumulated other comprehensive loss and will be reclassified to interest expense in the period that the hedged forecasted transaction affects earnings on the Company’s variable rate debt. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings into interest expense. For the year ended December 31, 2016 , the Company recorded a gain of $0.1 million of hedge ineffectiveness in interest expense due to short-term, partial mismatches in notional amounts. For the years ended December 31, 2015 and December 31, 2014 , the Company did not record any hedge ineffectiveness related to the hedged derivatives. The Company estimates that approximately $2.4 million will be reclassified from accumulated other comprehensive loss as an increase to interest expense over the next 12 months. The table below details the location in the financial statements of the gain or loss recognized on interest rate swaps designated as cash flow hedges for the years ended December 31, 2016 , December 31, 2015 , and December 31, 2014 , (in thousands). Year ended December 31, 2016 2015 2014 Amount of loss recognized in accumulated other comprehensive loss on interest rate swaps (effective portion) $ 2,244 $ 5,387 $ 6,705 Amount of loss reclassified from accumulated other comprehensive loss into income (loss) as interest expense (effective portion) $ 3,142 $ 3,431 $ 2,508 Amount of gain recognized in interest expense (ineffective portion and amount excluded from effectiveness testing) $ 66 $ — $ — Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision where the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company's default on the indebtedness. As of December 31, 2016 , the fair values of 13 of the 23 of the Company’s interest rate swaps were in an asset position of approximately $1.5 million and 10 interest rate swaps were in a liability position of approximately $2.5 million , excluding any adjustment for nonperformance risk related to these agreements. The adjustment for nonperformance risk included in the fair value of the Company’s net asset position and net liability position was approximately $13,000 and $0.1 million , respectively, as of December 31, 2016 . Accrued interest expense for the Company's interest rate swaps was approximately $40,000 as of December 31, 2016 and is included in accounts payable, accrued expenses and other liabilities on the accompanying Consolidated Balance Sheets. As of December 31, 2016 , the Company has not posted any collateral related to these agreements. If the Company had breached any of its provisions at December 31, 2016 , it could have been required to settle its obligations under the agreement of the interest rate swaps in a liability position plus accrued interest for approximately $2.6 million . Fair Value of Interest Rate Swaps The Company’s valuation of the interest rate swaps is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs including interest rate curves. The fair values of interest rate swaps are determined by using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of December 31, 2016 and December 31, 2015 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. The following sets forth the Company’s financial instruments that are accounted for at fair value on a recurring basis as of December 31, 2016 and December 31, 2015 . Fair Value Measurements as of Balance Sheet Line Item (in thousands) Fair Value December 31, 2016 Level 1 Level 2 Level 3 Interest rate swaps-Asset $ 1,471 $ — $ 1,471 $ — Interest rate swaps-Liability $ (2,438 ) $ — $ (2,438 ) $ — Fair Value Measurements as of Balance Sheet Line Item (in thousands) Fair Value December 31, 2015 Level 1 Level 2 Level 3 Interest rate swaps-Asset $ 1,867 $ — $ 1,867 $ — Interest rate swaps-Liability $ (3,766 ) $ — $ (3,766 ) $ —

Equity

Equity	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Equity	Equity Preferred Stock Pursuant to its charter, the Company is authorized to issue 15,000,000 shares of preferred stock, par value $0.01 per share. On March 17, 2016, the Company completed an underwritten public offering of 3,000,000 shares of the Series C Preferred Stock, $0.01 par value per share, at a price to the public of $25.00 per share. On November 2, 2016, the Company redeemed all of the Series A Preferred Stock. The table below sets forth the Company’s outstanding preferred stock issuances as of December 31, 2016 . Preferred Stock Issuances Issuance Date Number of Shares Price and Liquidation Value Per Share Interest Rate Series B Cumulative Redeemable Preferred Stock April 16, 2013 2,800,000 $ 25.00 6.625 % Series C Cumulative Redeemable Preferred Stock March 17, 2016 3,000,000 $ 25.00 6.875 % Dividends on the Series A Preferred Stock, Series B Preferred Stock, and Series C Preferred Stock (collectively, the "Preferred Stock Issuances") are payable quarterly in arrears on or about the last day of March, June, September, and December of each year. The Preferred Stock Issuances rank on parity with each other and rank senior to the Company’s common stock with respect to dividend rights and rights upon the liquidation, dissolution or winding up of the Company. The Preferred Stock Issuances have no stated maturity date and are not subject to mandatory redemption or any sinking fund. Generally, the Company is not permitted to redeem the Series B Preferred Stock or the Series C Preferred Stock prior to April 16, 2018 and March 17, 2021, respectively, except in limited circumstances relating to the Company’s ability to qualify as a REIT and in certain other circumstances related to a change of control. The tables below set forth the dividends attributable to the Preferred Stock Issuances during the years ended December 31, 2016 and December 31, 2015 . Quarter Ended 2016 Declaration Date Series A Series B Series C Payment Date December 31 November 2, 2016 (1) $ 0.19375 (1) $ 0.4140625 $ 0.4296875 December 30, 2016 September 30 August 1, 2016 0.56250 0.4140625 0.4296875 September 30, 2016 June 30 May 2, 2016 0.56250 0.4140625 0.4965300 (2) June 30, 2016 March 31 February 22, 2016 0.56250 0.4140625 — March 31, 2016 Total $ 1.88125 $ 1.6562500 $ 1.3559050 (1) On September 26, 2016 the board of directors approved the redemption of the Series A Preferred Stock. On November 2, 2016 the Company redeemed all of the Series A Preferred Stock, at a cash redemption price of $25.00 per share, plus accrued and unpaid dividends to but excluding the redemption date, without interest. (2) Dividends for the Series C Preferred Stock were accrued and cumulative from and including March 17, 2016 to the first payment date on June 30, 2016. Quarter Ended 2015 Declaration Date Series A Series B Payment Date December 31 October 22, 2015 $ 0.5625 $ 0.4140625 December 31, 2015 September 30 July 21, 2015 0.5625 0.4140625 September 30, 2015 June 30 May 4, 2015 0.5625 0.4140625 June 30, 2015 March 31 February 20, 2015 0.5625 0.4140625 March 31, 2015 Total $ 2.2500 $ 1.6562500 On February 15, 2017 , the Company’s board of directors declared the Series B Preferred Stock and the Series C Preferred Stock dividend for the quarter ending March 31, 2017 at a quarterly rate of $0.4140625 per share and $0.4296875 per share, respectively. Common Stock The following sets forth the Company’s at-the market ("ATM") common stock offering programs as of December 31, 2016 . ATM Stock Offering Program (in thousands) Date Maximum Aggregate Offering Price Aggregate Common Stock Available as of December 31, 2016 (in thousands) 2016 $228 million ATM November 8, 2016 $ 228,218 $ 117,331 The tables below set forth the activity for the ATM common stock offering programs during the years ended December 31, 2016 and December 31, 2015 (in thousands, except share data). Year ended December 31, 2016 ATM Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2016 $228 million ATM 4,763,838 $ 23.28 $ 110,887 $ 1,550 $ 109,337 2016 $200 million ATM (1) 7,326,200 $ 23.45 171,782 2,429 169,353 Total/weighted average 12,090,038 $ 23.38 $ 282,669 $ 3,979 $ 278,690 (1) This program ended before December 31, 2016 . Year ended December 31, 2015 ATM Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2014 $200 million ATM (1) 2,661,403 $ 21.63 $ 57,571 $ 864 $ 56,707 2014 $150 million ATM (1) 795,000 $ 21.79 17,321 260 17,061 Total/weighted average 3,456,403 $ 21.67 $ 74,892 $ 1,124 $ 73,768 (1) This program ended before December 31, 2016 . Dividends The tables below set forth the dividends attributable to the common stock that were declared or paid during the years ended December 31, 2016 and December 31, 2015 , respectively. Month Ended 2016 Declaration Date Record Date Per Share Payment Date December 31 August 1, 2016 December 30, 2016 $ 0.115833 January 17, 2017 November 30 August 1, 2016 November 30, 2016 0.115833 December 15, 2016 October 31 August 1, 2016 October 31, 2016 0.115833 November 15, 2016 September 30 May 2, 2016 September 30, 2016 0.115833 October 17, 2016 August 31 May 2, 2016 August 31, 2016 0.115833 September 15, 2016 July 31 May 2, 2016 July 29, 2016 0.115833 August 15, 2016 June 30 February 22, 2016 June 30, 2016 0.115833 July 15, 2016 May 31 February 22, 2016 May 31, 2016 0.115833 June 15, 2016 April 30 February 22, 2016 April 29, 2016 0.115833 May 16, 2016 March 31 October 22, 2015 March 31, 2016 0.115833 April 15, 2016 February 29 October 22, 2015 February 29, 2016 0.115833 March 15, 2016 January 31 October 22, 2015 January 29, 2016 0.115833 February 16, 2016 Total $ 1.389996 Month Ended 2015 Declaration Date Record Date Per Share Payment Date December 31 July 21, 2015 December 31, 2015 $ 0.1150 January 15, 2016 November 30 July 21, 2015 November 30, 2015 0.1150 December 15, 2015 October 31 July 21, 2015 October 30, 2015 0.1150 November 16, 2015 September 30 May 4, 2015 September 30, 2015 0.1150 October 15, 2015 August 31 May 4, 2015 August 31, 2015 0.1150 September 15, 2015 July 31 May 4, 2015 July 31, 2015 0.1150 August 17, 2015 June 30 February 20, 2015 June 30, 2015 0.1125 July 15, 2015 May 31 February 20, 2015 May 29, 2015 0.1125 June 15, 2015 April 30 February 20, 2015 April 30, 2015 0.1125 May 15, 2015 March 31 October 30, 2014 March 31, 2015 0.1125 April 15, 2015 February 28 October 30, 2014 February 27, 2015 0.1125 March 16, 2015 January 31 October 30, 2014 January 31, 2015 0.1125 February 17, 2015 Total $ 1.3650 On November 2, 2016 , the Company’s board of directors declared the common stock dividend for the months ending January 31, 2017 , February 28, 2017 and March 31, 2017 at a monthly rate of $0.116667 per share of common stock. On February 15, 2017 , the Company’s board of directors declared the common stock dividend for the months ending April 30, 2017 , May 31, 2017 and June 30, 2017 at a monthly rate of $0.116667 per share of common stock. Restricted Stock-Based Compensation Pursuant to the 2011 Plan, the Company grants restricted shares of common stock to certain employees of the Company. The restricted shares of common stock are subject to time-based vesting. Restricted shares of common stock granted on January 8, 2016, subject to the recipient’s continued employment, will vest in four equal installments on January 1 of each year beginning in 2017. Refer to Note 14 for details on restricted shares of common stock granted on January 6, 2017. Holders of restricted shares of common stock have voting rights and rights to receive dividends. Restricted shares of common stock may not be sold, assigned, transferred, pledged or otherwise disposed of and are subject to a risk of forfeiture prior to the expiration of the applicable vesting period. The following table summarizes activity related to the Company’s unvested restricted shares of common stock for the years ended December 31, 2016 and December 31, 2015 . Unvested Restricted Shares of Common Stock Shares Balance at December 31, 2014 263,916 Granted 94,290 (1) Vested (72,185 ) Forfeited (14,906 ) Balance at December 31, 2015 271,115 Granted 101,289 (2) Vested (98,746 ) Forfeited (1,321 ) Balance at December 31, 2016 272,337 (1) The grant date fair value per share was $26.17 . (2) The grant date fair value per share was $17.98 . The unrecognized compensation expense associated with the Company’s restricted shares of common stock at December 31, 2016 was approximately $3.3 million and is expected to be recognized over a weighted average period of approximately 2.1 years . The following table summarizes the fair value at vesting date for the restricted shares of common stock vested during the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 . Year ended December 31, 2016 2015 2014 Vested restricted shares of common stock 98,746 72,185 51,885 Fair value of vested restricted shares of common stock (in thousands) $ 1,813 $ 1,751 $ 1,123

Noncontrolling Interest

Noncontrolling Interest	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest The Company is structured as an UPREIT, and owns substantially all of its assets and conducts substantially all of its business through its Operating Partnership. The Company’s consolidated financial statements include the accounts of the Company, the Operating Partnership and their subsidiaries. The table below summarizes the activity for noncontrolling interest in the Company for the years ended December 31, 2016 and December 31, 2015 . LTIP Units Other Common Units Total Noncontrolling Common Units Noncontrolling Interest Balance at December 31, 2014 1,307,036 1,124,813 2,431,849 3.6 % Granted/Issued 323,069 864,283 1,187,352 N/A Forfeitures — — — N/A Conversions from LTIP units to Other Common Units (20,000 ) 20,000 — N/A Redemptions from Other Common Units to common stock — (90,824 ) (90,824 ) N/A Redemption of Other Common Units for cash — (2,400 ) (2,400 ) N/A Balance at December 31, 2015 1,610,105 1,915,872 3,525,977 4.9 % Granted/Issued 176,396 — 176,396 N/A Forfeitures — — — N/A Conversions from LTIP units to Other Common Units (209,985 ) 209,985 — N/A Redemptions from Other Common Units to common stock — (68,492 ) (68,492 ) N/A Balance at December 31, 2016 1,576,516 2,057,365 3,633,881 4.3 % The Company adjusts the carrying value of noncontrolling interest to reflect its share of the book value of the Operating Partnership when there has been a change in the Company’s ownership of the Operating Partnership. Such adjustments are recorded to additional paid-in capital as a rebalancing of noncontrolling interest on the accompanying Consolidated Statements of Equity. LTIP Units LTIP units are granted to certain executive officers and senior employees of the Company as part of their compensation, and to independent directors for their service. LTIP units are valued by reference to the value of the Company’s common stock and are subject to such conditions and restrictions as the compensation committee of the board of directors may determine, including continued employment or service. LTIP units granted on January 6, 2016 to independent directors, subject to the recipient’s continued service, will vest on January 1, 2017. LTIP units granted on January 8, 2016 to certain senior executive officers and senior employees, subject to the recipient’s continued employment, will vest quarterly over four years, with the first vesting date being March 31, 2016. LTIP units granted on February 22, 2016 to certain senior executive officers, subject to the recipient’s continued employment, will vest quarterly over four years, with the first vesting date being March 31, 2016. Refer to Note 14 for details on the LTIP units granted on January 6, 2017.Vested LTIP units can be converted to Other Common Units on a one-for-one basis once a material equity transaction has occurred that results in the accretion of the member’s capital account to the economic equivalent of an Other Common Unit. All LTIP units, whether vested or not, will receive the same monthly per unit distributions as Other Common Units, which equal per share dividends on common stock. On January 25, 2016, the Company and Geoffrey G. Jervis, the Company’s Chief Financial Officer, Executive Vice President and Treasurer, agreed that Mr. Jervis’s employment with the Company would terminate effective February 25, 2016. Pursuant to the terms and conditions of the executive employment agreement and LTIP unit agreements between the Company and Mr. Jervis, and the Company’s 2015 Outperformance Program ("OPP"), Mr. Jervis received a lump sum cash payment, the continuation of certain insurance benefits, immediate vesting of outstanding LTIP units, and eligibility to receive a pro-rated award payment under the OPP. Accordingly, the Company accelerated the expense recognition of Mr. Jervis's unvested LTIP units in the amount of approximately $1.6 million , which is included in general and administrative expenses for the year ended December 31, 2016 on the accompanying Consolidated Statements of Operations. Additionally, the unrecognized compensation expense associated with Mr. Jervis's participation in the OPP after February 25, 2016 will not be recognized. The Company also incurred approximately $1.5 million related to the lump sum cash payment and continuation of certain insurance benefits, which is included in general and administrative expenses during the year ended December 31, 2016 on the accompanying Consolidated Statements of Operations. On May 4, 2015, the Company and the Operating Partnership and Benjamin S. Butcher, the Company’s Chief Executive Officer, President and Chairman of the Board, entered into an amended and restated employment agreement. The amended and restated agreement is for an initial term of three years . The agreement automatically extends for successive one year terms unless, not fewer than 60 days before the term’s end, either party provides a notice of non-renewal to the other party. In connection with the amended and restated agreement, the compensation committee of the board of directors granted Mr. Butcher a retention award of 100,000 LTIP units that vest one-half on the third anniversary of the grant and one-sixth on the fourth, fifth and sixth anniversaries. On September 8, 2014, the Company executed an employment agreement, effective October 27, 2014, with Jeffrey M. Sullivan to serve as the Company’s Executive Vice President, General Counsel, and Secretary for a term of three years commencing on January 1, 2015. During the period October 27, 2014 to December 31, 2014, Mr. Sullivan acted as a special legal advisor to the Company. On October 27, 2014, pursuant to the 2011 Plan, the Company awarded an initial LTIP unit grant equal in value to approximately $0.1 million , which equated to 4,006 LTIP units that will vest over five years in equal installments on a quarterly basis beginning on December 31, 2014 . Additionally on October 27, 2014, pursuant to the 2011 Plan, Mr. Sullivan was granted LTIP units equal in value to $0.6 million , which equated to 26,596 LTIP units, which will vest at the end of the initial term of the employment agreement on December 31, 2017. On September 8, 2014, Kathryn Arnone, Executive Vice President, General Counsel and Secretary of the Company, informed the board of directors of her decision to resign from the Company effective December 31, 2014 . On December 15, 2014, Ms. Arnone informed the board of directors that she was resigning immediately. In connection with her resignation, and pursuant to the terms of the LTIP unit agreements (which terms provide for acceleration of vesting in the case of employment termination due to illness), her outstanding unvested LTIP units vested immediately upon her resignation. The Company accelerated the expense recognition of Ms. Arnone’s unvested LTIP units in the amount of approximately $0.9 million , which is included in general and administrative expenses for the year ended December 31, 2014 on the accompanying Consolidated Statements of Operations. On May 12, 2014, the Company executed an employment agreement with Geoffrey G. Jervis to serve as the Company’s Chief Financial Officer, Executive Vice President and Treasurer for a term of three years. On July 1, 2014, pursuant to the 2011 Plan, the Company awarded an initial LTIP unit grant equal in value to approximately $0.3 million , which equated to 14,850 LTIP units that will vest over five years in equal installments on a quarterly basis beginning on September 30, 2014. Additionally on July 1, 2014, pursuant to the 2011 Plan, Mr. Jervis was granted LTIP units equal in value to $1.2 million , which equated to 52,106 LTIP units, which will vest at the end of a three years term, running concurrently with the initial term of the employment agreement, which ends on June 30, 2017. Subsequent to December 31, 2015, the Company and Mr. Jervis agreed that Mr. Jervis’s employment with the Company would terminate effective February 25, 2016; as discussed above. On February 7, 2014, Gregory W. Sullivan, the Company’s former Chief Financial Officer, Executive Vice President and Treasurer, notified the Company of his intention not to renew his contract at its expiration on April 20, 2014 and he tendered his resignation from his position on April 21, 2014. On April 21, 2014, Mr. Sullivan and the Company executed a consulting agreement, which had an effective date of April 29, 2014, pursuant to which Mr. Sullivan would act as a senior financial advisor to the Company for one year . The consulting agreement modified the vesting terms of Mr. Sullivan’s LTIP units previously granted to him as well as the vesting provisions of his share of the Company’s 2011 Outperformance Program (“2011 OPP”) (refer to Note 12 for further details on the 2011 OPP) that was measured on September 19, 2014. At the time of Mr. Sullivan’s contract expiration, he had 82,804 unvested LTIP units and a 14% allocation of the 2011 OPP. The modification to the terms of Mr. Sullivan’s LTIP units and his share of the previously unrecognized compensation expense associated with the 2011 OPP were considered a Type III modification, with non-substantive services, in accordance with GAAP. Accordingly, his unvested LTIP units and his share of the previously unrecognized compensation expense associated with 2011 OPP were valued on the effective date of the consulting agreement for approximately $2.0 million and $0.2 million , respectively, and these amounts were expensed upon the effective date of the consulting agreement and included in general and administrative expenses during the year ended December 31, 2014 on the accompanying Consolidated Statements of Operations. The Company expensed dividends in the amount of approximately $0.1 million previously paid to Mr. Sullivan on the unvested LTIP units and this amount is also included in general and administrative expenses during the year ended December 31, 2014 on the accompanying Consolidated Statements of Operations. Additionally the Company incurred approximately $0.7 million of general and administrative expenses during the year ended December 31, 2014 related to his salary, bonus and other benefits that will be received over the term of the consulting agreement. The LTIP units issued under the 2011 Plan were valued using the Monte Carlo lattice binomial option-pricing model at the grant date. The fair value of the LTIP units are based on Level 3 inputs and are non-recurring fair value measurements. The table below sets forth the assumptions used in valuing such LTIP units for the years ended December 31, 2016 and December 31, 2015 . LTIP Units Assumptions Grant date February 22, 2016 January 8, 2016 January 6, 2016 May 4, 2015 January 12, 2015 October 27, 2014 July 1, 2014 January 2, 2014 Expected term (years) 10 10 10 10 10 10 10 10 Expected volatility 22.0 % 22.0 % 22.0 % 20.0 % 20.0 % 20 % 40 % 40 % Expected dividend yield 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Risk-free interest rate 1.01 % 1.28 % 1.36 % 0.66 % 0.62 % 0.48 % 0.79 % 0.79 % Fair value of LTIP units at issuance (in thousands) $ 277 $ 2,254 $ 390 $ 2,038 $ 5,450 $ 690 $ 1,542 $ 4,329 LTIP units at issuance 18,386 135,546 22,464 100,000 223,069 30,602 66,956 224,424 Fair value unit price per LTIP unit at issuance $ 15.07 $ 16.63 $ 17.36 $ 20.38 $ 24.43 $ 22.56 $ 23.03 $ 19.29 The following table summarizes activity related to the Company’s unvested LTIP units for the years ended December 31, 2016 and December 31, 2015 . Unvested LTIP Units LTIP Units Balance at December 31, 2014 448,887 Granted 323,069 Vested (237,046 ) Forfeited — Balance at December 31, 2015 534,910 Granted 176,396 Vested (307,883 ) Forfeited — Balance at December 31, 2016 403,423 The unrecognized compensation expense associated with the Company’s LTIP units at December 31, 2016 was approximately $6.6 million and is expected to be recognized over a weighted average period of approximately 2.5 years . The following table summarizes the fair value at vesting date for the LTIP units vested during years ended December 31, 2016 , December 31, 2015 , and December 31, 2014 . Year ended December 31, 2016 2015 2014 Vested LTIP units 307,883 237,046 639,445 Fair value of vested LTIP units (in thousands) $ 6,393 $ 4,853 $ 14,063 Other Common Units Other Common Units and shares of the Company’s common stock have essentially the same economic characteristics in that Other Common Units directly, and shares of the Company’s common stock indirectly, through the Company’s interest in the Operating Partnership, share equally in the total net income or loss distributions of the Operating Partnership. Subject to certain restrictions, investors who own Other Common Units have the right to cause the Operating Partnership to redeem any or all of their Other Common Units for cash equal to the then-current value of one share of the Company’s common stock, or, at the Company’s election, shares of common stock on a one-for-one basis. The value of a share of common stock is calculated as the average common stock closing price on the NYSE for the 10 trading days immediately preceding the redemption notice date. Each Other Common Unit will receive the same monthly distribution as a share of common stock. As partial consideration for a property acquired on January 22, 2015, the Company granted 812,676 Other Common Units with a fair value of approximately $21.9 million based on the Company’s NYSE closing stock price on January 22, 2015. As partial consideration for another property acquired on December 11, 2015, the Company granted 51,607 Other Common Units with a fair value of approximately $1.0 million based on the Company’s NYSE closing stock price on December 11, 2015. The number of Other Common Units granted was calculated based on the trailing 10 -day average common stock closing price ending on the business day that immediately preceded the grant date. The fair value of the shares of the Other Common Units granted was calculated based on the closing stock price per the NYSE on the grant date multiplied by the number of Other Common Units granted. The issuance of the Other Common Units was effected in reliance upon an exemption from registration provided by Section 4(2) under the Securities Act of 1933, as amended. The Company relied on the exemption based on representations given by the holders of the Other Common Units.

Equity Incentive Plan

Equity Incentive Plan	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Incentive Plan	Equity Incentive Plan On April 1, 2011, the Company adopted, and the Company’s stockholders approved, the 2011 Plan. The 2011 Plan provides for the issuance of equity-based awards, including stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock awards and other awards based on shares of the Company’s common stock, such as LTIP units in the Operating Partnership, that may be made by the Company directly to the executive officers, directors, employees and other individuals providing bona fide services to or for the Company. Subject to certain adjustments identified within the 2011 Plan, the aggregate number of shares of the Company’s common stock that may be awarded under the 2011 Plan is 3,642,461 shares. Under the 2011 Plan, each LTIP unit awarded will be equivalent to an award of one share of common stock reserved under the 2011 Plan, thereby reducing the number of shares of common stock available for other equity awards on a one-for-one basis. The 2011 Plan may be terminated, amended, modified or suspended at any time by the board of directors, subject to stockholder approval as required by law or stock exchange rules. The 2011 Plan expires on March 31, 2021. On September 20, 2011, the compensation committee of the Company’s board of directors approved the 2011 OPP under the 2011 Plan to provide key employees of the Company or its affiliates with incentives to contribute to the growth and financial success of the Company. On September 19, 2014, the Company’s three year measurement period pursuant to the 2011 OPP concluded. It was determined that the Company’s total stockholder return exceeded the threshold percentage and return hurdle and the maximum pool amount of $10.0 million was awarded to the participants. The compensation committee of the Company’s board of directors approved the issuance of 397,590 vested LTIP units and 43,657 vested shares of common stock to participants of the 2011 OPP. On March 8, 2016, the Company granted performance units, approved by the compensation committee of the board of directors, under the 2011 Plan to provide certain key employees of the Company with incentives designed to align those key employees' interests more closely with those of the stockholders. The ultimate value of the performance units depends on the Company’s total stockholder return ("TSR") over a three -year period commencing January 1, 2016 and ending on December 31, 2018 (the "measuring period"). At the end of the measuring period, the performance units convert into shares of common stock, or, at the Company's election and with the award recipient's consent, LTIP units or other securities, at a rate depending on the Company’s TSR over the measuring period as compared to three different benchmarks and on the absolute amount of the Company’s TSR. A recipient of performance units may receive as few as zero shares or as many as 250% of the number of target units, plus deemed dividends. The target amount of the performance units is nominally allocated as: (i) 25% to the Company’s TSR compared to the TSR of an industry peer group; (ii) 25% to the Company’s TSR compared to the TSR of a size-based peer group; and (iii) 50% to the Company’s TSR compared to the TSR of the companies in the MSCI US REIT index. No dividends are paid to the recipient during the measuring period. At the end of the measuring period, if the Company’s TSR is such that the recipient earns shares of common stock or, at the Company's election and with the award recipient's consent, LTIP units or other securities (“Award Shares”), the recipient will receive additional Award Shares relating to dividends deemed to have been paid and reinvested on the Award Shares. The Company, in the discretion of the compensation committee of the board of directors, may pay the cash value of the deemed dividends instead of issuing additional Award Shares. The number of Award Shares is determined at the end of the measuring period, and one-half of the Award Shares and all dividend shares vest immediately. The other one-half of the Award Shares will be restricted (subject to forfeiture) and vest one year after the end of the measuring period. The fair value of the performance units at the date of grant was approximately $2.6 million , as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation using a weighted average volatility factor of 23.0% , a weighted average risk-free interest rate of 1.0849% , and a weighted average expected dividend yield of 6.0% . The performance unit equity compensation expense is recognized into earnings ratably from the grant date over the respective vesting periods. Refer to Note 14 for details on performance units granted on January 6, 2017. On January 12, 2015, the compensation committee of the board of directors of the Company approved the 2015 Outperformance Program (the “2015 OPP”) under the 2011 Plan, to provide certain key employees of the Company or its affiliates with incentives to contribute to the growth and financial success of the Company and its affiliates. Recipients of awards under the 2015 OPP will share in an outperformance pool if the Company’s total stockholder return, including both share appreciation and dividends, exceeds an absolute hurdle over a three year measurement period from January 1, 2015 to January 1, 2018 (the “measurement period”), based on a beginning value of $24.49 per share of the Company’s common stock, as well as a relative hurdle based on the MSCI US REIT Index. Provided the Company’s increase in cumulative absolute total stockholder return over the measurement period equals or exceeds 25% (the “threshold percentage”), the outperformance pool consists of 10% of the excess total stockholder return above an absolute total stockholder return hurdle. The hurdle is equal to the total return of the MSCI US REIT Index plus five percentage points over the measurement period. The aggregate reward for all recipients collectively is capped at the lesser of (i) 0.24% of the product of the total number of shares of common stock and Noncontrolling Common Units outstanding on January 1, 2018 and the average common stock price of the Company for the 20 trading days ending immediately prior to January 1, 2018, and (ii) $15.4 million . Each participant’s award under the 2015 OPP is designated as a specified percentage of the aggregate outperformance pool. If the threshold percentage and return hurdle were achieved at the end of the measurement period, the outperformance pool will be calculated and then allocated to the award recipients. The 2015 OPP provides that awards will be paid in the form of fully vested shares of the Company’s common stock, or, at the Company's election and with the award recipient’s consent, other securities or cash. The 2015 OPP awards were valued at approximately $1.6 million utilizing a Monte Carlo simulation to estimate the probability of the conditions being satisfied. The Monte Carlo simulation used a statistical formula underlying the Black-Scholes and binomial formulas and such simulation was run approximately 500,000 times. For each simulation, the payoff is calculated at the settlement date, which is then discounted to the award date at a risk-free interest rate. The average of the values over all simulations is the expected value of the award on the award date. Assumptions used in the valuations included (i) factors associated with the underlying performance of the Company’s stock price and total stockholder return over the term of the awards including total stock return volatility and risk-free interest and (ii) factors associated with the relative performance of the Company’s stock price and total stockholder return when compared to the MSCI US REIT Index. The valuation was performed in a risk-neutral framework, so no assumption was made with respect to an equity risk premium. The fair value of the 2015 OPP awards was estimated on the date of grant using the following assumptions in the Monte Carlo valuation: expected price volatility for the Company and the MSCI US REIT Index of 20% and 13.6% , respectively, and a risk free rate of 0.9814% . The expense associated with the value of the 2015 OPP awards will be amortized ratably over the measurement period. The unrecognized compensation expense associated with the 2015 OPP and the performance units at December 31, 2016 was approximately $0.5 million and $1.9 million , respectively, and is expected to be recognized over a weighted average period of approximately 1.0 year and 2.4 years , respectively. Equity Non-cash Compensation Expense The following table summarizes the amount recorded in general and administrative expenses in the accompanying Consolidated Statement of Operations for the amortization of restricted shares of common stock, LTIP units, the 2015 OPP, the 2011 OPP, performance units, and the Company’s board of directors’ compensation. Year ended December 31, Non-cash compensation expense (in thousands) 2016 2015 2014 Restricted stock $ 2,157 $ 1,932 $ 1,164 LTIP units 6,089 (1) 4,774 5,353 (2) Outperformance programs 465 523 456 (3) Performance units 672 — — Board of directors compensation (4) 346 349 341 Total non-cash compensation expense $ 9,729 $ 7,578 $ 7,314 (1) Inclusive of approximately $1.6 million of non-cash compensation expense during the year ended December 31, 2016 associated with the severance cost of an executive officer as discussed Note 7. (2) Inclusive of approximately $2.0 million of non-cash compensation during the year ended December 31, 2014 associated with the accounting for a consulting agreement with a former executive officer discussed in Note 7. Inclusive of approximately $0.9 million of non-cash compensation during the year ended December 31, 2014 associated with the accounting for a former executive officer's acceleration of LTIP units discussed in Note 7. (3) Inclusive of approximately $0.2 million of non-cash compensation during the year ended December 31, 2014 associated with the accounting for a consulting agreement with a former executive officer discussed in Note 7. (4) All of the Company’s independent directors elected to receive shares of common stock in lieu of cash for their service during the years ended December 31, 2016 , December 31, 2015 , and December 31, 2014 . The number of shares of common stock granted is calculated based on the trailing 10 days average common stock price ending on the third business day preceding the grant date. At December 31, 2016 and December 31, 2015 , the number of shares available for issuance under the 2011 Plan were 1,156,578 and 1,449,415 , respectively. The number of shares available for issuance under the 2011 Plan do not include an allocation for the performance units or the 2015 OPP as the awards were not determinable as of December 31, 2016 or December 31, 2015 .

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company uses the two-class method of computing earnings per common share, which is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. Unvested restricted stock awards are considered participating securities as these stock-based awards contain non-forfeitable rights to dividends, unless and until a forfeiture occurs, and these awards must be included in the computation of earnings per share pursuant to the two-class method. During the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 , there were 276,367 ; 280,839 ; and 268,894 , respectively, unvested shares of restricted stock on a weighted average basis that were considered participating securities. During the year ended December 31, 2016 , there were 92,251 and 123,112 of unvested shares of restricted stock and performance units, respectively, on a weighted average basis that were dilutive. There were no dilutive shares during the years ended December 31, 2015 and December 31, 2014 . During the years ended December 31, 2015 and December 31, 2014 , there were 70,149 and 110,048 shares of unvested restricted common stock on a weighted average basis, respectively, that could potentially dilute basic EPS in the future that were not included in the computation of diluted EPS because to do so would have been antidilutive for those periods. The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 . Year ended December 31, Earnings Per Share (in thousands, except share data) 2016 2015 2014 Numerator Net income (loss) $ 35,588 $ (29,345 ) $ (4,685 ) Less: preferred stock dividends 13,897 10,848 10,848 Less: amount allocated to participating securities 384 385 345 Less: income (loss) attributable to noncontrolling interest after preferred stock dividends 1,069 (1,962 ) (992 ) Net income (loss) attributable to common stockholders $ 20,238 $ (38,616 ) $ (14,886 ) Denominator Weighted average common shares outstanding — basic 70,637,185 66,307,972 54,086,345 Weighted average common shares outstanding — diluted 70,852,548 66,307,972 54,086,345 Net income (loss) per share — basic and diluted Net income (loss) per share attributable to common stockholders — basic $ 0.29 $ (0.58 ) $ (0.28 ) Net income (loss) per share attributable to common stockholders — diluted $ 0.29 $ (0.58 ) $ (0.28 )

Future Minimum Rents

Future Minimum Rents	12 Months Ended
	Dec. 31, 2016
Leases, Operating [Abstract]
Future Minimum Rents	Future Minimum Rents The Company’s properties are leased to tenants under triple net, modified, and gross leases. Minimum contractual lease payments receivable, excluding tenant reimbursement of expenses, under non-cancelable operating leases in effect as of December 31, 2016 are approximately as follows. Year Future Minimum Rents (in thousands) 2017 $ 223,309 2018 $ 187,615 2019 $ 149,273 2020 $ 120,461 2021 $ 87,797 Thereafter $ 301,177

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are generally covered by insurance subject to deductible requirements. Management believes that the ultimate settlement of these actions will not have a material adverse effect on the Company’s financial position, results of operations or cash flows. On April 18, 2012, the Company entered into an agreement with affiliates of Columbus Nova Real Estate Acquisition Group, Inc. ("Columbus Nova") to source sale leaseback transactions for potential acquisitions by the Company. The agreement called for various fees to be paid to Columbus Nova for its services including acquisition fees, credit monitoring fees, and a one-time incentive fee if certain performance thresholds are met. As of December 31, 2016 and December 31, 2015 , respectively, the fair value of the incentive fee was zero . The fair value was calculated using the following key Level 3 inputs: discount rate of 8.0% to 12.0% and 9.5% as of December 31, 2016 and December 31, 2015 , respectively, and exit capitalization rate of 7.0% to 12.0% and 9.8% as of December 31, 2016 and December 31, 2015 , respectively. The Company has letters of credit of approximately $3.5 million related to development projects and its corporate office lease as of December 31, 2016 . Ground and Operating Lease Agreements Future minimum rental payments under the terms of the fixed non-cancelable ground leases and operating leases, including any bargain renewal terms, under which the Company is the lessee as of December 31, 2016 are as follows. Year Future Minimum Rental Payments (1) (in thousands) 2017 $ 1,427 2018 $ 1,539 2019 $ 1,577 2020 $ 1,588 2021 $ 681 Thereafter $ 6,336 (1) Future minimum rental payments do not include estimates of CPI rent changes required by certain lease agreements. Therefore, actual minimum rental payments may differ than those presented.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans Effective April 20, 2011, the Company adopted a 401(k) Defined Contribution Savings Plan (the “Plan”) for its employees. Under the Plan, as amended, employees, as defined, are eligible to participate in the Plan after they have completed three months of service. The Company provides a discretionary match of 50% of the employee’s contributions annually up to 6.0% of the employee’s annual compensation, subject to a cap imposed by federal tax law. The Company’s aggregate matching contribution for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 was approximately $0.4 million , $0.2 million and $0.2 million , respectively. The Company’s contribution is subject to a three year vesting schedule, such that employees who have been with the Company for three years are fully vested in past and future contributions.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions The Company’s initial public offering (“IPO”) on April 20, 2011, represented the roll-up of the substantial majority of the assets of several private, externally-advised real estate funds investing in single-tenant industrial real estate in the United States, including the fund identified below as Fund III. The roll-up included the affiliated management companies that advised the funds and excluded the assets of another affiliated real estate fund that also invested in industrial real estate; including the fund identified below as Fund II. In connection with the IPO, a wholly owned subsidiary of the Company, STAG Industrial Management, LLC (the “Manager”), entered into service agreements with the funds that participated in the IPO and remained in existence and the fund that did not participate in the IPO. The Manager is performing certain asset management services for STAG Investments II, LLC (“Fund II”), a private, fully-invested fund that is an affiliate of the Company and owned seven buildings with approximately 2.2 million rentable square feet as of December 31, 2016 . The Manager is paid an annual asset management fee based on the equity investment in the Fund II assets, which is 1.25% of the equity investment. In June 2013, Fund II and the Company amended the service agreement to exclude disposition services from the asset management services to be performed by the Company and results in a concomitant reduction in the asset management fee. The Company recognized asset management fee income of approximately $0.2 million , $0.4 million and $0.6 million for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 , respectively, which is included in other income on the accompanying Consolidated Statements of Operations. As of December 31, 2016 and December 31, 2015 , the Company had a receivable in the amount of approximately $48,000 and $0.1 million , respectively, related to the asset management fee income included within prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. The Company’s “predecessor” for accounting purposes is STAG Predecessor Group, which is not a legal entity, but a collection of real estate entities that were owned by STAG Investments III, LLC (“Fund III”) prior to the Company’s IPO. At the time of the formation transactions in connection with the IPO, three vacant properties owned by Fund III were not contributed to the Company (the “Option Properties”). The Manager had entered into a services agreement with Fund III pursuant to which it would manage the Option Properties for an annual fee of $30,000 per property, and would provide the limited administrative services (including preparation of reports for the Fund III lender and investors, bookkeeping, tax and accounting services) that Fund III will require, for an annual fee of $20,000 . As the last remaining Option Property was sold in 2013, the Manager only received the annual fee of $20,000 until Fund III’s liquidation. Fund III ceased operations and was liquidated on December 31, 2014 and, as a result, the Manager no longer receives an annual fee.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events GAAP requires an entity to disclose certain events that occur after the balance sheet date but before financial statements are issued or are available to be issued (“subsequent events”). There are two types of subsequent events. The first type consists of events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements (“recognized subsequent events”). No significant recognized subsequent events were noted. The second type consists of events that provide evidence about conditions that did not exist at the date of the balance sheet but arose subsequent to that date (“non-recognized subsequent events”). The following non-recognized subsequent events are noted. On January 6, 2017, the Company granted 75,001 restricted shares of common stock to certain employees of the Company pursuant to the 2011 Plan. The restricted shares of common stock granted will vest in four equal installments on January 1 of each year beginning in 2018. The fair value of the restricted shares of common stock at the date of grant was $24.41 per share. On January 6, 2017, the Company granted 16,836 LTIP units to non-employee, independent directors, and 109,403 LTIP units to certain executive officers and senior employees pursuant to the 2011 Plan. The LTIP units granted to non-employee, independent directors will vest on January 1, 2018. The LTIP units granted to certain executive officers and senior employees will vest quarterly over four years , with the first vesting date being March 31, 2017. The fair value of the LTIP units at the date of grant was approximately $2.9 million , as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation using an expected term of ten years, a weighted average volatility factor of 23.0% , a weighted average expected dividend yield of 6.0% , and a weighted average risk-free interest rate of 1.61% . The fair value of the LTIP units are based on Level 3 inputs and are non-recurring fair value measurements. On January 6, 2017, the Company granted performance units to certain executive officers and senior employees pursuant to the 2011 Plan. The terms of the January 6, 2017 performance units grant is substantially the same as the March 8, 2016 performance units grant as discussed in Note 8, except that the measuring period commences on January 1, 2017 and ends on December 31, 2019. The fair value of the performance units at the date of grant was approximately $2.9 million , as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation using a weighted average volatility factor of 23.0% , a weighted average expected dividend yield of 6.0% , and a weighted average risk-free interest rate of 1.61% . The fair value of the performance units are based on Level 3 inputs and are non-recurring fair value measurements.

Schedule 2 - Valuation and Qual

Schedule 2 - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2016
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	STAG Industrial, Inc. Schedule II—Valuation and Qualifying Accounts December 31, 2016 (in thousands) Allowance for Doubtful Receivables and Accrued Rent Reserves STAG Industrial, Inc. Beginning of Period Costs and Expenses Amounts Written Off Balance at End of Period December 31, 2016 $ 106 $ 125 $ (43 ) $ 188 December 31, 2015 $ 104 $ 190 $ (188 ) $ 106 December 31, 2014 $ 19 $ 104 $ (19 ) $ 104

Schedule 3 - Real Estate and Ac

Schedule 3 - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SEC Schedule III - Real Estate and Accumulated Depreciation Disclosure	STAG Industrial, Inc. Schedule III—Real Estate and Accumulated Depreciation December 31, 2016 (in thousands) Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2016 City/State Encumbrances (1) Building & Improvements (2) Land Costs Capitalized Subsequent to Acquisition and Valuation Provision Building & Improvements Land Total Accumulated Depreciation (3) Acq Date Albion, IN $ — 93 67 $ — $ 93 $ 67 $ 160 $ (24 ) 2006 Albion, IN — 932 103 — 932 $ 103 $ 1,035 (246 ) 2006 Albion, IN — 1,107 55 — 1,107 $ 55 $ 1,162 (292 ) 2006 Albion, IN — 970 332 — 970 $ 332 $ 1,302 (256 ) 2006 Albion, IN — 1,397 52 — 1,397 $ 52 $ 1,449 (368 ) 2006 Albion, IN — 1,528 126 — 1,528 $ 126 $ 1,654 (403 ) 2006 Kendallville, IN — 1,510 142 — 1,510 $ 142 $ 1,652 (398 ) 2006 Albion, IN — 710 187 — 710 $ 187 $ 897 (187 ) 2006 Alexandria, MN — 5,855 960 151 6,006 $ 960 $ 6,966 (900 ) 2011 Allentown, PA — 7,336 1,962 783 8,119 $ 1,962 $ 10,081 (865 ) 2014 Appleton, WI — 3,765 495 360 4,125 $ 495 $ 4,620 (1,030 ) 2007 Arlington, TX — 2,374 413 304 2,678 $ 413 $ 3,091 (589 ) 2007 Arlington, TX — 6,151 1,246 — 6,151 $ 1,246 $ 7,397 (837 ) 2012 Avon, CT — 2,750 336 — 2,750 $ 336 $ 3,086 (369 ) 2012 Belfast, ME — 10,331 1,883 487 10,818 $ 1,883 $ 12,701 (1,641 ) 2011 Belvidere, IL — 4,176 442 — 4,176 $ 442 $ 4,618 (224 ) 2015 Belvidere, IL — 3,956 733 — 3,956 $ 733 $ 4,689 (428 ) 2013 Belvidere, IL — 3,436 1,310 — 3,436 $ 1,310 $ 4,746 (514 ) 2013 Belvidere, IL — 3,517 538 114 3,631 $ 538 $ 4,169 (325 ) 2013 Belvidere, IL — 6,899 670 — 6,899 $ 670 $ 7,569 (690 ) 2013 Belvidere, IL — 4,321 668 — 4,321 $ 668 $ 4,989 (493 ) 2013 Belvidere, IL — 3,730 866 — 3,730 $ 866 $ 4,596 (450 ) 2013 Belvidere, IL — 2,808 586 22 2,830 $ 586 $ 3,416 (375 ) 2013 Belvidere, IL — 8,340 1,542 552 8,892 $ 1,542 $ 10,434 (1,043 ) 2013 Belvidere, IL — 71 216 — 71 $ 216 $ 287 (71 ) 2013 Biddeford, ME — 8,164 1,369 3,916 12,080 $ 1,369 $ 13,449 (179 ) 2016 Boardman, OH — 3,473 282 773 4,246 $ 282 $ 4,528 (1,033 ) 2007 Boardman, OH — 841 49 149 990 $ 49 $ 1,039 (531 ) 2007 Brooklyn Park, MN — 11,988 1,926 — 11,988 $ 1,926 $ 13,914 (33 ) 2016 Buena Vista, VA — 2,500 534 635 3,135 $ 534 $ 3,669 (417 ) 2012 Buffalo, NY — 2,924 146 — 2,924 $ 146 $ 3,070 (373 ) 2012 Burlington, NJ — 42,652 5,135 55 42,707 $ 5,135 $ 47,842 (1,980 ) 2015 Burlington, NJ — 19,577 4,030 1,231 20,808 $ 4,030 $ 24,838 (1,268 ) 2015 Calhoun, GA — 2,764 388 — 2,764 $ 388 $ 3,152 (216 ) 2014 Camarillo, CA — 10,785 7,242 237 11,022 $ 7,242 $ 18,264 (943 ) 2014 Camarillo, CA — 19,857 7,989 25 19,882 $ 7,989 $ 27,871 (1,589 ) 2014 Catoosa, OK — 3,937 — — 3,937 $ — $ 3,937 (450 ) 2013 Cedar Hill, TX — 11,971 4,066 — 11,971 $ 4,066 $ 16,037 (222 ) 2016 Charlotte, NC (10,291 ) 9,461 3,535 1,197 10,658 $ 3,535 $ 14,193 (2,199 ) 2011 Charlotte, NC — 2,443 805 4 2,447 $ 805 $ 3,252 (244 ) 2014 Charlotte, NC — 3,554 386 19 3,573 $ 386 $ 3,959 (341 ) 2014 Charlotte, NC — 3,961 515 — 3,961 $ 515 $ 4,476 (157 ) 2015 Charlotte, NC — 4,445 678 — 4,445 $ 678 $ 5,123 (112 ) 2016 Chattanooga, TN — 2,321 187 — 2,321 $ 187 $ 2,508 (155 ) 2015 Chattanooga, TN — 4,730 380 13 4,743 $ 380 $ 5,123 (316 ) 2015 Chattanooga, TN — 8,459 424 — 8,459 $ 424 $ 8,883 (645 ) 2015 Cheektowaga, NY — 2,757 216 793 3,550 $ 216 $ 3,766 (599 ) 2011 Chesterfield, MI — 1,169 207 62 1,231 $ 207 $ 1,438 (390 ) 2007 Chesterfield, MI — 798 150 89 887 $ 150 $ 1,037 (206 ) 2007 Chesterfield, MI — 802 151 224 1,026 $ 151 $ 1,177 (261 ) 2007 Chesterfield, MI — 5,304 942 1,952 7,256 $ 942 $ 8,198 (1,821 ) 2007 Chester, VA — 3,402 775 — 3,402 $ 775 $ 4,177 (448 ) 2014 Chicopee, MA — 5,867 504 — 5,867 $ 504 $ 6,371 (825 ) 2012 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2016 City/State Encumbrances (1) Building & Improvements (2) Land Costs Capitalized Subsequent to Acquisition and Valuation Provision Building & Improvements Land Total Accumulated Depreciation (3) Acq Date Chippewa Falls, WI — 2,303 133 — 2,303 $ 133 $ 2,436 (347 ) 2011 Chippewa Falls, WI — 544 44 — 544 44 588 (80 ) 2011 Cincinnati, OH — 3,637 238 1,412 5,049 238 5,287 (1,785 ) 2007 Cleveland, TN (2,464 ) 3,161 554 84 3,245 554 3,799 (543 ) 2011 Clinton, TN — 3,302 403 — 3,302 403 3,705 (307 ) 2015 Columbus, OH — 3,123 489 167 3,290 489 3,779 (433 ) 2014 Columbia, SC — 5,171 783 — 5,171 783 5,954 (122 ) 2016 West Columbia, SC — 6,988 715 401 7,389 715 8,104 (792 ) 2013 Dallas, GA — 1,712 475 — 1,712 475 2,187 (252 ) 2012 LaGrange, GA — 3,175 240 331 3,506 240 3,746 (619 ) 2011 Danville, KY — 11,814 965 3,644 15,458 965 16,423 (2,273 ) 2011 Daytona Beach, FL — 875 1,237 1,704 2,579 1,237 3,816 (630 ) 2007 Dayton, OH — 5,896 331 375 6,271 331 6,602 (319 ) 2015 DeForest, WI — 5,402 1,131 — 5,402 1,131 6,533 (20 ) 2016 DeKalb, IL — 4,568 489 — 4,568 489 5,057 (530 ) 2013 De Pere, WI — 6,144 525 — 6,144 525 6,669 (861 ) 2012 Duncan, SC — 11,258 1,002 726 11,984 1,002 12,986 (1,635 ) 2012 Duncan, SC — 6,739 709 71 6,810 709 7,519 (833 ) 2012 Durham, SC — 2,700 753 31 2,731 753 3,484 (161 ) 2015 Earth City, MO — 2,806 1,123 — 2,806 1,123 3,929 (25 ) 2016 Edgefield, SC — 938 220 750 1,688 220 1,908 (255 ) 2012 Elizabethtown, PA — 5,363 1,000 — 5,363 1,000 6,363 (414 ) 2014 Elkhart, IN — 210 25 143 353 25 378 (58 ) 2007 Elkhart, IN — 3,567 422 452 4,019 422 4,441 (931 ) 2007 El Paso, TX — 9,099 1,248 — 9,099 1,248 10,347 (733 ) 2014 El Paso, TX — 7,905 1,124 — 7,905 1,124 9,029 (767 ) 2014 El Paso, TX — 14,159 1,854 91 14,250 1,854 16,104 (1,205 ) 2014 El Paso, TX — 9,897 1,581 — 9,897 1,581 11,478 (767 ) 2014 El Paso, TX — 5,893 1,136 — 5,893 1,136 7,029 (340 ) 2015 El Paso, TX — 3,096 — 1,006 4,102 — 4,102 (567 ) 2012 Erlanger, KY — 3,826 635 6 3,832 635 4,467 (132 ) 2016 East Troy, WI — 4,962 304 — 4,962 304 5,266 (382 ) 2014 East Windsor, CT — 5,711 400 — 5,711 400 6,111 (22 ) 2016 East Windsor, CT (3,073 ) 4,713 348 528 5,241 348 5,589 (1,088 ) 2012 Fairborn, OH — 5,650 867 — 5,650 867 6,517 (477 ) 2015 Fairfield, OH — 2,842 948 — 2,842 948 3,790 (142 ) 2016 Farmington, NY — 5,342 410 20 5,362 410 5,772 (1,312 ) 2007 Forest Park, GA — 9,527 1,733 35 9,562 1,733 11,295 (142 ) 2016 Forest Park, GA — 8,189 1,715 — 8,189 1,715 9,904 (106 ) 2016 Fort Wayne, IN — 3,142 112 — 3,142 112 3,254 (245 ) 2014 Franklin, IN — 12,042 2,479 13 12,055 2,479 14,534 (1,940 ) 2012 Fort Worth, TX (1,889 ) 2,965 389 709 3,674 389 4,063 (563 ) 2011 Gahanna, OH — 4,191 1,265 1,258 5,449 1,265 6,714 (1,055 ) 2011 Gardiner, ME — 8,983 948 — 8,983 948 9,931 (141 ) 2016 Garland, TX — 5,425 1,344 294 5,719 1,344 7,063 (644 ) 2014 Garland, TX — 6,058 1,542 536 6,594 1,542 8,136 (296 ) 2015 Germantown, WI — 6,035 1,186 — 6,035 1,186 7,221 (660 ) 2014 Gloversville, NY (736 ) 1,299 117 — 1,299 117 1,416 (169 ) 2012 Gloversville, NY (1,189 ) 2,613 151 — 2,613 151 2,764 (359 ) 2012 Gloversville, NY (849 ) 1,514 154 13 1,527 154 1,681 (220 ) 2012 Golden, CO — 6,164 742 67 6,231 742 6,973 (669 ) 2013 Goshen, IN (5,224 ) 6,509 1,442 415 6,924 1,442 8,366 (1,186 ) 2011 Grand Junction, CO — 4,002 314 — 4,002 314 4,316 (196 ) 2015 Grand Rapids, MI — 7,532 169 5 7,537 169 7,706 (383 ) 2015 Graniteville, SC — 8,389 1,629 — 8,389 1,629 10,018 (228 ) 2016 Greenwood, SC (1,529 ) 1,848 166 — 1,848 166 2,014 (236 ) 2012 Greenwood, SC (1,302 ) 1,232 169 4 1,236 169 1,405 (198 ) 2012 Greenville, SC — 3,379 309 — 3,379 309 3,688 (220 ) 2015 Greer, SC — 1,434 129 144 1,578 129 1,707 (78 ) 2015 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2016 City/State Encumbrances (1) Building & Improvements (2) Land Costs Capitalized Subsequent to Acquisition and Valuation Provision Building & Improvements Land Total Accumulated Depreciation (3) Acq Date Greer, SC — 1,748 128 39 1,787 128 1,915 (95 ) 2015 Greer, SC — 471 153 10 481 153 634 (31 ) 2015 Greer, SC — 3,016 306 99 3,115 306 3,421 (180 ) 2015 Fountain Inn, SC — 4,438 719 — 4,438 719 5,157 (152 ) 2016 Grove City, OH — 3,974 730 — 3,974 730 4,704 (60 ) 2016 Gurnee, IL — 11,380 1,716 19 11,399 1,716 13,115 (845 ) 2014 Gurnee, IL — 4,902 1,337 468 5,370 1,337 6,707 (935 ) 2012 Hampstead, MD — 34,969 780 — 34,969 780 35,749 (3,588 ) 2013 Harrisonburg, VA — 11,179 1,455 144 11,323 1,455 12,778 (1,285 ) 2012 Hartland, WI — 4,634 1,526 — 4,634 1,526 6,160 (36 ) 2016 Harvard, IL — 2,980 1,157 — 2,980 1,157 4,137 (637 ) 2013 Hazelwood, MO (5,384 ) 5,815 1,382 1,207 7,022 1,382 8,404 (1,292 ) 2011 Hebron, KY — 4,601 370 — 4,601 370 4,971 (446 ) 2014 Holland, MI (3,159 ) 3,475 279 60 3,535 279 3,814 (580 ) 2012 Holland, MI — 2,176 224 229 2,405 224 2,629 (925 ) 2007 Houston, TX — 7,790 2,255 9 7,799 2,255 10,054 (886 ) 2013 Houston, TX — 4,906 1,428 17 4,923 1,428 6,351 (594 ) 2014 Houston, TX — 5,019 565 750 5,769 565 6,334 (671 ) 2014 Houston, TX — 8,448 2,546 — 8,448 2,546 10,994 (53 ) 2016 Huntersville, NC — 3,123 1,061 39 3,162 1,061 4,223 (390 ) 2012 Idaho Falls, ID — 2,735 356 — 2,735 356 3,091 (380 ) 2013 Independence, VA (1,421 ) 2,212 226 83 2,295 226 2,521 (415 ) 2012 Itasca, IL — 12,216 2,428 — 12,216 2,428 14,644 (95 ) 2016 Jackson, TN — 2,374 230 213 2,587 230 2,817 (374 ) 2012 Janesville, WI — 17,477 828 245 17,722 828 18,550 (2,115 ) 2013 Jefferson City, TN — 8,494 1,350 — 8,494 1,350 9,844 (1,365 ) 2014 Johnstown, NY (736 ) 1,304 178 — 1,304 178 1,482 (184 ) 2012 Johnstown, NY (1,076 ) 1,592 216 — 1,592 216 1,808 (185 ) 2012 Johnstown, NY (878 ) 978 151 — 978 151 1,129 (171 ) 2012 Johnstown, NY (1,642 ) 1,467 140 — 1,467 140 1,607 (208 ) 2012 Kansas City, MO — 5,539 703 92 5,631 703 6,334 (584 ) 2012 Kenosha, WI — 3,991 797 — 3,991 797 4,788 (36 ) 2016 Kentwood, MI — 2,478 407 — 2,478 407 2,885 (309 ) 2013 Knoxville, TN — 3,201 447 — 3,201 447 3,648 (263 ) 2015 Lafayette, IN (1,217 ) 2,205 295 36 2,241 295 2,536 (267 ) 2012 Lafayette, IN (2,067 ) 3,554 410 38 3,592 410 4,002 (540 ) 2012 Lafayette, IN (4,246 ) 8,135 906 252 8,387 906 9,293 (1,182 ) 2012 Lancaster, PA — 5,480 1,520 — 5,480 1,520 7,000 (527 ) 2015 Langhorne, PA — 3,868 1,370 — 3,868 1,370 5,238 (86 ) 2016 Langhorne, PA — 3,105 1,308 — 3,105 1,308 4,413 (84 ) 2016 Langhorne, PA — 6,372 1,884 — 6,372 1,884 8,256 (61 ) 2016 Lansing, MI (7,263 ) 8,164 501 — 8,164 501 8,665 (1,353 ) 2011 Lansing, MI — 4,077 580 — 4,077 580 4,657 (564 ) 2012 Lansing, MI (5,662 ) 7,162 429 — 7,162 429 7,591 (936 ) 2012 Lansing, MI — 5,209 907 — 5,209 907 6,116 (619 ) 2013 Laurens, SC — 4,254 151 — 4,254 151 4,405 (181 ) 2015 Lenexa, KS — 7,610 2,368 — 7,610 2,368 9,978 (938 ) 2014 Lewiston, ME — 5,515 173 1,318 6,833 173 7,006 (1,769 ) 2007 Lexington, NC — 3,968 232 633 4,601 232 4,833 (717 ) 2011 Libertyville, IL — 6,455 421 80 6,535 421 6,956 (377 ) 2015 Libertyville, IL — 770 143 9 779 143 922 (155 ) 2015 Londonderry, NH — 6,683 730 — 6,683 730 7,413 (767 ) 2013 Longmont, CO — 9,647 1,529 350 9,997 1,529 11,526 (859 ) 2014 Loudon, TN — 3,751 170 — 3,751 170 3,921 (181 ) 2015 Louisville, KY (3,354 ) 3,875 386 520 4,395 386 4,781 (866 ) 2011 Louisville, KY (5,351 ) 6,182 616 632 6,814 616 7,430 (1,336 ) 2011 Macedonia, OH — 8,195 1,690 10 8,205 1,690 9,895 (487 ) 2015 Machesney Park, IL — 3,742 300 — 3,742 300 4,042 (261 ) 2015 Madison, TN (5,688 ) 6,159 1,655 1,681 7,840 1,655 9,495 (1,488 ) 2011 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2016 City/State Encumbrances (1) Building & Improvements (2) Land Costs Capitalized Subsequent to Acquisition and Valuation Provision Building & Improvements Land Total Accumulated Depreciation (3) Acq Date Malden, MA — 2,817 366 — 2,817 366 3,183 (691 ) 2007 Malden, MA — 3,961 507 — 3,961 507 4,468 (972 ) 2007 Marion, IA — 2,257 691 49 2,306 691 2,997 (338 ) 2013 Marion, IN (2,887 ) 2,934 243 563 3,497 243 3,740 (391 ) 2012 Marshall, MI — 1,051 199 — 1,051 199 1,250 (181 ) 2013 Mascot, TN — 3,228 284 — 3,228 284 3,512 (178 ) 2016 Mascot, TN — 3,452 385 65 3,517 385 3,902 (525 ) 2013 Salem, OH — 7,674 858 252 7,926 858 8,784 (1,761 ) 2006 Mason, OH — 4,730 673 — 4,730 673 5,403 (476 ) 2014 Mayville, WI — 4,118 547 330 4,448 547 4,995 (1,142 ) 2007 Mebane, NC — 4,570 481 457 5,027 481 5,508 (596 ) 2012 Mebane, NC — 4,148 443 — 4,148 443 4,591 (548 ) 2012 Mebane, NC — 4,999 358 — 4,999 358 5,357 (577 ) 2013 Mechanicsburg, PA — 5,172 1,482 635 5,807 1,482 7,289 (648 ) 2014 Mechanicsburg, PA — 7,144 1,800 — 7,144 1,800 8,944 (654 ) 2014 New Kingston, PA — 8,687 2,041 — 8,687 2,041 10,728 (786 ) 2014 Mechanicsburg, PA — 8,008 1,452 — 8,008 1,452 9,460 (719 ) 2014 Milwaukee, WI — 4,090 456 46 4,136 456 4,592 (978 ) 2007 Montgomery, AL — 7,523 418 — 7,523 418 7,941 (25 ) 2016 Montgomery, IL — 12,485 2,190 1,755 14,240 2,190 16,430 (1,573 ) 2012 Mooresville, NC (5,888 ) 7,411 701 216 7,627 701 8,328 (1,312 ) 2011 Mountain Home, NC — 2,472 523 — 2,472 523 2,995 (230 ) 2014 Murfreesboro, TN — 2,863 722 — 2,863 722 3,585 (338 ) 2014 Nashua, NH — 8,682 1,431 — 8,682 1,431 10,113 (942 ) 2014 Nashville, TN — 3,601 547 — 3,601 547 4,148 (391 ) 2013 Newark, DE — 1,478 197 392 1,870 197 2,067 (480 ) 2007 Newark, DE — 1,891 232 194 2,085 232 2,317 (612 ) 2007 New Berlin, WI — 6,500 1,068 141 6,641 1,068 7,709 (886 ) 2013 New Castle, DE — 17,767 2,616 — 17,767 2,616 20,383 (338 ) 2016 New Hope, MN — 1,970 1,919 — 1,970 1,919 3,889 (345 ) 2013 Lopatcong, NJ — 9,154 1,554 193 9,347 1,554 10,901 (476 ) 2011 Piscataway, NJ — 5,655 640 620 6,275 640 6,915 (1,480 ) 2011 Newton, NC — 3,814 732 86 3,900 732 4,632 (573 ) 2011 North Haven, CT — 39,911 4,086 1,384 41,295 4,086 45,381 (3,132 ) 2015 North Jackson, OH — 4,427 1,528 — 4,427 1,528 5,955 (469 ) 2013 North Jackson, OH (7,435 ) 5,795 486 170 5,965 486 6,451 (734 ) 2011 Norcorss, GA — 2,586 1,589 — 2,586 1,589 4,175 (132 ) 2016 Norton, MA — 6,740 2,839 — 6,740 2,839 9,579 (1,192 ) 2011 Novi, MI (2,774 ) 3,879 252 — 3,879 252 4,131 (659 ) 2012 Novi, MI — 6,035 626 — 6,035 626 6,661 (310 ) 2015 Oakwood Village, OH — 3,091 343 — 3,091 343 3,434 (254 ) 2015 Ocala, FL — 13,296 731 952 14,248 731 14,979 (1,409 ) 2013 O'Fallon, MO (2,634 ) 2,676 1,242 266 2,942 1,242 4,184 (500 ) 2011 O'Hara, PA (15,909 ) 18,875 1,435 4,999 23,874 1,435 25,309 (3,036 ) 2012 Oklahoma City, OK — 2,211 746 — 2,211 746 2,957 (23 ) 2016 Oklahoma City, OK — 9,199 1,614 1,354 10,553 1,614 12,167 (488 ) 2015 Olathe, KS — 20,763 2,431 — 20,763 2,431 23,194 (195 ) 2016 Orlando, FL — 4,839 1,339 — 4,839 1,339 6,178 (588 ) 2013 Orlando, FL — 1,996 721 — 1,996 721 2,717 (292 ) 2012 Pensacola, FL — 2,989 145 111 3,100 145 3,245 (1,215 ) 2007 Phenix City, AL (1,585 ) 1,493 276 140 1,633 276 1,909 (249 ) 2012 Phoenix, AZ — 5,770 1,653 — 5,770 1,653 7,423 (340 ) 2015 Piedmont, SC — 4,152 231 — 4,152 231 4,383 (216 ) 2015 Piedmont, SC — 2,127 158 — 2,127 158 2,285 (115 ) 2015 Piedmont, SC — 2,302 204 — 2,302 204 2,506 (195 ) 2015 Pineville, NC — 1,380 392 — 1,380 392 1,772 (227 ) 2012 Plymouth, MI — 4,670 365 — 4,670 365 5,035 (339 ) 2015 Pocatello, ID — 3,472 399 135 3,607 399 4,006 (1,064 ) 2007 Portage, IN — 5,416 — — 5,416 — 5,416 (613 ) 2012 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2016 City/State Encumbrances (1) Building & Improvements (2) Land Costs Capitalized Subsequent to Acquisition and Valuation Provision Building & Improvements Land Total Accumulated Depreciation (3) Acq Date Portland, TN — 8,353 1,662 66 8,419 1,662 10,081 (1,387 ) 2012 Portland, ME (2,853 ) 3,727 891 — 3,727 891 4,618 (507 ) 2012 Rapid City, SD — 10,662 2,071 836 11,498 2,071 13,569 (3,477 ) 2007 Reading, PA — 5,401 1,708 67 5,468 1,708 7,176 (176 ) 2016 Muhlenberg TWP, PA — 14,064 843 132 14,196 843 15,039 (1,982 ) 2012 Reno, NV — 3,461 1,372 — 3,461 1,372 4,833 (357 ) 2014 Rock Hill, SC (4,012 ) 6,297 1,411 — 6,297 1,411 7,708 (114 ) 2016 Rogers, MN (10,014 ) 11,787 1,671 238 12,025 1,671 13,696 (2,925 ) 2011 Rogers, AR — 8,280 1,072 99 8,379 1,072 9,451 (1,391 ) 2011 Rural Hall, NC — 5,664 439 147 5,811 439 6,250 (1,103 ) 2011 Salem, OR (2,741 ) 3,150 599 640 3,790 599 4,389 (603 ) 2011 Salem, OR (1,231 ) 1,452 266 433 1,885 266 2,151 (340 ) 2011 San Antonio, TX — 10,395 1,568 — 10,395 1,568 11,963 (61 ) 2016 Sauk Village, IL — 5,405 877 64 5,469 877 6,346 (621 ) 2013 Savage, MN — 3,996 3,194 493 4,489 3,194 7,683 (662 ) 2014 Savannah, GA — 13,219 439 — 13,219 439 13,658 (1,193 ) 2014 Sergeant Bluff, IA — 6,188 247 273 6,461 247 6,708 (3,667 ) 2007 Seville, OH — 4,536 766 171 4,707 766 5,473 (949 ) 2011 Shannon, GA — 12,969 393 — 12,969 393 13,362 (1,150 ) 2013 South Holland, IL — 3,900 714 — 3,900 714 4,614 (652 ) 2013 Shreveport, LA — 6,265 1,804 136 6,401 1,804 8,205 (460 ) 2015 Simpsonville, SC — 2,960 957 117 3,077 957 4,034 (442 ) 2012 Simpsonville, SC — 3,418 470 127 3,545 470 4,015 (462 ) 2012 Smithfield, NC — 4,694 613 12 4,706 613 5,319 (706 ) 2011 Smyrna, GA — 3,286 264 — 3,286 264 3,550 (485 ) 2012 South Bend, IN — 4,834 411 — 4,834 411 5,245 (666 ) 2012 Sparks, MD — 1,945 358 65 2,010 358 2,368 (751 ) 2007 Spartanburg, SC — 15,100 1,867 — 15,100 1,867 16,967 (122 ) 2016 Spartanburg, SC — 3,694 342 — 3,694 342 4,036 (370 ) 2014 Spartanburg, SC — 5,797 493 294 6,091 493 6,584 (728 ) 2012 Springfield, OH — 6,432 574 — 6,432 574 7,006 (745 ) 2013 Statham, GA — 6,130 588 200 6,330 588 6,918 (747 ) 2012 Sterling Heights, MI (1,529 ) 4,197 513 415 4,612 513 5,125 (548 ) 2012 Stoughton, MA — 2,613 2,256 824 3,437 2,256 5,693 (606 ) 2015 Stoughton, MA — 1,216 538 — 1,216 538 1,754 (174 ) 2015 Streetsboro, OH (5,493 ) 5,481 2,161 214 5,695 2,161 7,856 (1,340 ) 2011 Strongsville, OH — 5,853 491 23 5,876 491 6,367 (573 ) 2014 Sun Prairie, WI — 5,809 2,360 2,377 8,186 2,360 10,546 (1,176 ) 2011 Toledo, OH — 6,831 213 — 6,831 213 7,044 (976 ) 2012 Burlington, NJ — — 3,267 167 167 3,267 3,434 — 2015 Libertyville, IL — — 369 2 2 369 371 — 2015 Libertyville, IL — — 397 2 2 397 399 — 2015 Tulsa, OK — 8,242 966 — 8,242 966 9,208 (405 ) 2015 Twinsburg, OH — 8,027 590 — 8,027 590 8,617 (1,590 ) 2007 Visalia, CA — 21,839 4,346 — 21,839 4,346 26,185 (646 ) 2016 Vonore, TN (7,707 ) 8,243 2,355 85 8,328 2,355 10,683 (1,571 ) 2011 Waco, TX — 1,394 — 274 1,668 — 1,668 (244 ) 2011 West Allis, WI — 1,905 462 — 1,905 462 2,367 (97 ) 2015 West Allis, WI — 1,860 444 — 1,860 444 2,304 (91 ) 2015 West Allis, WI — 929 252 — 929 252 1,181 (48 ) 2015 West Allis, WI — 1,039 251 — 1,039 251 1,290 (51 ) 2015 Walker, MI (3,685 ) 4,872 855 118 4,990 855 5,845 (949 ) 2011 Ware Shoals, SC (251 ) 197 133 — 197 133 330 (29 ) 2012 Warren, MI — 14,473 1,290 — 14,473 1,290 15,763 (234 ) 2016 West Chester, OH — 8,868 936 — 8,868 936 9,804 (27 ) 2016 West Chicago, IL — 2,036 768 — 2,036 768 2,804 (8 ) 2016 West Chicago, IL — 674 382 — 674 382 1,056 (6 ) 2016 West Chicago, IL — 768 450 — 768 450 1,218 (5 ) 2016 West Chicago, IL — 895 369 — 895 369 1,264 (6 ) 2016 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2016 City/State Encumbrances (1) Building & Improvements (2) Land Costs Capitalized Subsequent to Acquisition and Valuation Provision Building & Improvements Land Total Accumulated Depreciation (3) Acq Date West Chicago, IL — 904 216 — 904 216 1,120 (4 ) 2016 West Chicago, IL — 6,247 915 59 6,306 915 7,221 (225 ) 2016 West Columbia, SC — 9,570 488 — 9,570 488 10,058 (29 ) 2016 West Columbia, SC — 4,646 551 — 4,646 551 5,197 (33 ) 2016 Westborough, MA — 5,808 661 — 5,808 661 6,469 (68 ) 2016 Hamilton, OH — 8,585 1,046 — 8,585 1,046 9,631 (1,290 ) 2014 Wichita, KS (1,529 ) 1,815 88 11 1,826 88 1,914 (214 ) 2012 Wichita, KS (1,671 ) 1,839 107 57 1,896 107 2,003 (257 ) 2012 Wichita, KS (764 ) 833 76 131 964 76 1,040 (109 ) 2012 Williamsport, PA — 9,059 688 — 9,059 688 9,747 (1,150 ) 2013 Winston-Salem, NC — 11,054 610 16 11,070 610 11,680 (949 ) 2014 Wood Dale, IL — 5,042 1,226 — 5,042 1,226 6,268 (30 ) 2016 Woodstock, IL — 3,796 496 — 3,796 496 4,292 (520 ) 2012 Yorkville, WI (4,044 ) 4,915 416 — 4,915 416 5,331 (339 ) 2014 Bardstown, KY — 2,398 379 — 2,398 379 2,777 (617 ) 2007 Total $ (164,326 ) $ 1,673,800 $ 272,162 $ 63,754 $ 1,737,554 $ 272,162 $ 2,009,716 $ (187,413 ) (1) Balance excludes the unamortized balance of fair market value premiums of approximately $0.1 million and unamortized deferred financing fees and debt issuance costs of approximately $6.3 million . (2) The initial costs of building and improvements is the acquisition costs less asset impairment write-downs and disposals of building and tenant improvements. (3) Depreciation expense is computed using the straight-line method based on the following lives: Building 40 Years Building and land improvements Up to 20 years Tenant improvements Shorter of useful life or terms of related lease As of December 31, 2016 , the aggregate cost for federal income tax purposes of investments in real estate was approximately $2.6 billion . Year ended December 31, 2016 2015 2014 Real Estate: Balance at beginning of period $ 1,711,612 $ 1,415,965 $ 1,079,046 Additions during period Other acquisitions 381,131 330,504 337,726 Improvements, etc. 33,133 16,851 13,608 Other additions — — — Deductions during period Cost of real estate sold (97,342 ) (21,443 ) (10,539 ) Write-off of tenant improvements (2,585 ) (1,205 ) (1,036 ) Asset impairments and involuntary conversion (16,233 ) (29,060 ) (2,840 ) Balance at the end of the period $ 2,009,716 $ 1,711,612 $ 1,415,965 Accumulated Depreciation: Balance at beginning of period $ 147,917 $ 105,435 $ 71,653 Additions during period Depreciation and amortization expense 57,391 48,186 36,356 Other additions — — — Deductions during period Disposals (17,895 ) (5,704 ) (2,574 ) Balance at the end of the period $ 187,413 $ 147,917 $ 105,435

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Related-Party Transactions	Related-Party Transactions The Company’s initial public offering (“IPO”) on April 20, 2011, represented the roll-up of the substantial majority of the assets of several private, externally-advised real estate funds investing in single-tenant industrial real estate in the United States, including the fund identified below as Fund III. The roll-up included the affiliated management companies that advised the funds and excluded the assets of another affiliated real estate fund that also invested in industrial real estate; including the fund identified below as Fund II. In connection with the IPO, a wholly owned subsidiary of the Company, STAG Industrial Management, LLC (the “Manager”), entered into service agreements with the funds that participated in the IPO and remained in existence and the fund that did not participate in the IPO. The Manager is performing certain asset management services for STAG Investments II, LLC (“Fund II”), a private, fully-invested fund that is an affiliate of the Company and owned seven buildings with approximately 2.2 million rentable square feet as of December 31, 2016 . The Manager is paid an annual asset management fee based on the equity investment in the Fund II assets, which is 1.25% of the equity investment. In June 2013, Fund II and the Company amended the service agreement to exclude disposition services from the asset management services to be performed by the Company and results in a concomitant reduction in the asset management fee. The Company recognized asset management fee income of approximately $0.2 million , $0.4 million and $0.6 million for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 , respectively, which is included in other income on the accompanying Consolidated Statements of Operations. As of December 31, 2016 and December 31, 2015 , the Company had a receivable in the amount of approximately $48,000 and $0.1 million , respectively, related to the asset management fee income included within prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. The Company’s “predecessor” for accounting purposes is STAG Predecessor Group, which is not a legal entity, but a collection of real estate entities that were owned by STAG Investments III, LLC (“Fund III”) prior to the Company’s IPO. At the time of the formation transactions in connection with the IPO, three vacant properties owned by Fund III were not contributed to the Company (the “Option Properties”). The Manager had entered into a services agreement with Fund III pursuant to which it would manage the Option Properties for an annual fee of $30,000 per property, and would provide the limited administrative services (including preparation of reports for the Fund III lender and investors, bookkeeping, tax and accounting services) that Fund III will require, for an annual fee of $20,000 . As the last remaining Option Property was sold in 2013, the Manager only received the annual fee of $20,000 until Fund III’s liquidation. Fund III ceased operations and was liquidated on December 31, 2014 and, as a result, the Manager no longer receives an annual fee.
Basis of Presentation	Basis of Presentation The Company’s consolidated financial statements include the accounts of the Company, the Operating Partnership and their subsidiaries. Interests in the Operating Partnership not owned by the Company are referred to as “Noncontrolling Common Units.” These Noncontrolling Common Units are held by other limited partners in the form of common units ("Other Common Units") and long term incentive plan units (“LTIP units”) issued pursuant to the STAG Industrial, Inc. 2011 Equity Incentive Plan, as amended (the “2011 Plan”). All significant intercompany balances and transactions have been eliminated in the consolidation of entities. The financial statements of the Company are presented on a consolidated basis for all periods presented.
Accounting Changes and Error Corrections [Text Block]	Revision of Previously Reported Consolidated Financial Statements In connection with the preparation of the Company's consolidated financial statements for the year ended December 31, 2016, the Company identified an error in the estimated useful life of a building acquired in the fourth quarter of 2014. As a result of the error, depreciation expense had been overstated and thereby rental property, net and equity were understated. The Company concluded that the amounts were not material to any of its previously issued consolidated financial statements. Accordingly, the Company revised these balances in the accompanying consolidated financial statements as of and for the years ended December 31, 2015 and December 31, 2014 as outlined below. These adjustments do not impact the Company’s cash balances for any of the reporting periods. The effects of this revision to the consolidated financial statements are as follows (in thousands, except for per share data). Effect of Revision As of and For the Year Ended December 31, 2015 As Previously Reported Adjustment As Revised Consolidated Balance Sheet, December 31, 2015 Building and improvements, net of accumulated depreciation $ 1,332,298 $ 2,478 $ 1,334,776 Total assets (1) $ 1,899,304 $ 2,478 $ 1,901,782 Total equity $ 855,379 $ 2,478 $ 857,857 Consolidated Statement of Operations, Year Ended December 31, 2015 Depreciation and amortization $ 112,545 $ (2,124 ) $ 110,421 Total expenses $ 218,999 $ (2,124 ) $ 216,875 Net loss $ (31,469 ) $ 2,124 $ (29,345 ) Net loss attributable to STAG Industrial, Inc. $ (29,403 ) $ 2,020 $ (27,383 ) Net loss attributable to common stockholders $ (40,636 ) $ 2,020 $ (38,616 ) Loss per share attributable to common stockholders — basic and diluted $ (0.61 ) $ 0.03 $ (0.58 ) Consolidated Statement of Comprehensive Income (Loss), Year Ended December 31, 2015 Comprehensive loss $ (33,425 ) $ 2,124 $ (31,301 ) (1) The as previously reported balance for total assets has been retrospectively adjusted to include the effect of the change in accounting principle for the adoption of ASU 2015-03, as discussed in "New Accounting Pronouncements" below. Effect of Revision As of and For the Year Ended December 31, 2014 As Previously Reported Adjustment As Revised Consolidated Balance Sheet, December 31, 2014 Total assets (1) $ 1,623,448 $ 354 $ 1,623,802 Total equity $ 891,524 $ 354 $ 891,878 Consolidated Statement of Operations, Year Ended December 31, 2014 Depreciation and amortization $ 88,057 $ (354 ) $ 87,703 Total expenses $ 155,874 $ (354 ) $ 155,520 Net loss $ (5,039 ) $ 354 $ (4,685 ) Net loss attributable to STAG Industrial, Inc. $ (4,025 ) $ 332 $ (3,693 ) Net loss attributable to common stockholders $ (15,218 ) $ 332 $ (14,886 ) Loss per share attributable to common stockholders — basic and diluted $ (0.28 ) $ — $ (0.28 ) Consolidated Statement of Comprehensive Income (Loss), Year Ended December 31, 2014 Comprehensive loss $ (9,236 ) $ 354 $ (8,882 ) (1) The as previously reported balance for total assets has been retrospectively adjusted to include the effect of the change in accounting principle for the adoption of ASU 2015-03, as discussed in "New Accounting Pronouncements" below.
Adoption of New Accounting Pronouncements	New Accounting Pronouncements In January of 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The new standard removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This standard is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted for interim or goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of ASU 2017-04 is not expected to materially impact the Company’s consolidated financial statements. In January of 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . The new standard provides a screen to determine when a set of assets and activities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired or disposed of is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This standard is effective for annual periods beginning after December 15, 2017 and interim periods within those periods, with early adoption permitted, and should be applied prospectively on or after the effective date. Upon the adoption of ASU 2017-01, it is expected that the majority of the Company's acquisitions will be accounted for as asset acquisitions, whereas under the current guidance the majority of the Company's acquisitions have been accounted for as business combinations. The most significant difference between the two accounting models that will impact the Company's consolidated financial statements is that in an asset acquisition, property acquisition costs are generally a component of the consideration transferred to acquire a group of assets and are capitalized as a component of the cost of the assets, whereas in a business combination, property acquisition costs are expensed and not included as part of the consideration transferred. The Company plans to adopt this standard effective January 1, 2018. In November of 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . The new standard requires that the statement of cash flows explain the changes during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This standard is effective for fiscal years beginning after December 15, 2017 and interim periods within those years, with early adoption permitted, and should be applied using a retrospective transition method to each period presented. Upon the adoption of ASU 2016-18, the Company will reconcile both cash and cash equivalents and restricted cash in the accompanying Statements of Cash Flows, whereas under the current guidance the Company explains the changes during the period for cash and cash equivalents only. In August of 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which provides clarified guidance on the presentation and classification of certain cash receipts and cash payments in the statement of cash flows. This standard is effective for fiscal years beginning after December 15, 2017, and interim periods within those years, with early adoption permitted. The Company has elected to early adopt this standard effective July 1, 2016, and the effects of this standard were applied retrospectively to all prior periods presented. The effect of the change in accounting principle was an increase in net cash provided by operating activities of approximately $2.0 million for the six months ended June 30, 2016 and a corresponding increase in net cash used in financing activities for the six months ended June 30, 2016 related to the payment of loan prepayment fees and costs. In March of 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718) , which addresses certain aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, forfeitures, and classification on the statement of cash flows. This standard is effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted. The Company has elected to early adopt this standard effective January 1, 2016. As a result, the Company's policy is to recognize forfeitures in the period which they occur, whereas the former guidance required the Company to estimate expected forfeitures. The adoption of this standard did not have a material effect on the consolidated financial statements. In February of 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). Topic 842 supersedes the previous leases standard, Topic 840, Leases . The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASU 2016-02 is expected to impact the Company’s consolidated financial statements as the Company has certain operating and land lease arrangements for which it is the lessee, which will result in the recording of a right of use asset and the related lease liability. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The new standard must be adopted using a modified retrospective transition and will require application of the new guidance at the beginning of the earliest comparative period. The Company is currently in the process of evaluating the impact the adoption of ASU 2016-02 will have on the Company’s financial position or results of operations, and expects to adopt the standard effective January 1, 2019. In January of 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10) . The amendments in ASU 2016-01 address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The standard primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for the annual periods beginning after December 31, 2017 and for annual periods and interim periods within those years. Early adoption is permitted for all financial statements of fiscal years and interim periods that have not yet been issued. The adoption of ASU 2016-01 is not expected to materially impact the Company’s consolidated financial statements. In April of 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30) . ASU 2015-03 requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability. In August of 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (Subtopic 835-30) , which clarified that debt issuance costs related to line-of-credit arrangements may be presented as an asset and amortized over the term of the line-of-credit arrangement regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The Company adopted this standard effective January 1, 2016. As a result, debt issuance costs related to the debt liabilities that are not line-of-credit arrangements are included as a direct deduction from the related debt liability and those related to line-of-credit arrangements continue to be included as an asset within prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. The effects of this standard were applied retrospectively to all prior periods presented. The effect of the change in accounting principle was the reduction of unsecured term loans by approximately $3.4 million , unsecured notes by approximately $2.3 million , and mortgage notes by approximately $1.3 million and a corresponding reduction of prepaid expenses and other assets by approximately $6.9 million as of December 31, 2015. In February of 2015, the FASB issued ASU 2015-02, Amendments to Consolidation Analysis (Topic 810) , which amends the current consolidation model. On January 1, 2016, the Company adopted this standard, modifying the analysis it must perform to determine whether it should consolidate certain types of legal entities. The guidance does not amend the existing disclosure requirements for variable interest entities or voting interest model entities. The guidance, however, modified the requirements to qualify under the voting interest model. Under the revised guidance, the Operating Partnership will be a variable interest entity of the Company. As the Operating Partnership is already consolidated in the financial statements of the Company, the identification of this entity as a variable interest entity had no impact on the consolidated financial statements of the Company. There were no other legal entities qualifying under the scope of the revised guidance that were consolidated as a result of the adoption. In addition, there were no voting interest entities under prior existing guidance determined to be variable interest entities under the revised guidance. In August of 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . ASU 2014-15 requires management to evaluate whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern, and to provide certain disclosures when it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. ASU 2014-15 is effective for the annual period ending December 31, 2016 and for annual periods and interim periods thereafter with early adoption permitted. The Company adopted this standard effective for the annual period ended December 31, 2016 and this standard did not have a material effect on the consolidated financial statements. In May of 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. While lease contracts with customers, which constitute a vast majority of the Company's revenues, are a specific scope exception, certain of the Company's revenue streams may be impacted by the new guidance. Once the new guidance setting forth principles for the recognition, measurement, presentation and disclosure of leases (ASU 2016-02, as discussed above) goes into effect, the new revenue standard may apply to executory costs and other components of revenue due under leases that are deemed to be non-lease components (such as common area maintenance and provision of utilities), even when the revenue for such activities is not separately stipulated in the lease. In that case, revenue from these items previously recognized on a straight-line basis under current lease guidance would be recognized under the new revenue guidance as the related services are delivered. As a result, while the total revenue recognized over time would not differ under the new guidance, the recognition pattern would be different. The Company is in the process of evaluating the significance of the difference in the recognition pattern that would result from this change. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. The Company has not decided which method of adoption it will use. Additionally, this guidance requires improved disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for the first interim period within annual reporting periods beginning after December 15, 2017. Early adoption is permitted for the first interim period within annual reporting periods beginning after December 15, 2016. The Company is currently in the process of evaluating the impact the adoption of ASU 2014-09 will have on the Company’s financial position or results of operations, and expects that it will adopt the standard effective January 1, 2018.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Rental Property	Rental Property and Deferred Leasing Intangibles Rental property is carried at cost less accumulated depreciation and amortization. Expenditures for maintenance and repairs are expensed as incurred. Significant renovations and betterments that extend the economic useful lives of assets are capitalized. The Company capitalizes costs directly and indirectly related to the development, pre-development, redevelopment, or improvement of rental property. Real estate taxes, compensation costs of development personnel, insurance, interest, and other directly related costs during construction periods are capitalized as incurred and depreciated commencing with the date the property is substantially completed. Such costs begin to be capitalized to the development projects from the point the Company is undergoing the necessary activities to get the development project ready for its intended use and cease when the development projects are substantially completed and held available for occupancy. Interest is capitalized based on actual capital expenditures from the period when development or redevelopment commences until the asset is ready for its intended use, at the weighted average borrowing rate of the Company's unsecured indebtedness during the period.
Discontinued Operations	For properties classified as held for sale, the Company ceases depreciating and amortizing the rental property and values the rental property at the lower of depreciated and amortized cost or fair value, less costs to dispose. The Company presents those properties classified as held for sale with any qualifying assets and liabilities associated with those properties as held for sale in the accompanying Consolidated Balance Sheets.
Business Combinations	The Company allocates the purchase price of business combinations of properties based upon the fair value of the assets and liabilities acquired, which generally consist of land, buildings, tenant improvements, mortgage debt assumed, and deferred leasing intangibles, which includes in-place leases, above market and below market leases, and tenant relationships. The portion of the purchase price that is allocated to above and below market leases is valued based on the present value of the difference between prevailing market rates and the in-place rates measured over a period equal to the remaining term of the lease term plus the term of any bargain renewal options. The above and below market lease values are amortized into rental income over the remaining term plus the terms of bargain renewal options or assumed exercise of early termination options of the respective leases. The purchase price is further allocated to in-place lease values and tenant relationships based on the Company's evaluation of the specific characteristics of each tenant’s lease and its overall relationship with the respective tenant. The value of in-place lease intangibles and tenant relationships, which are included as components of deferred leasing intangibles, are amortized over the remaining lease term (and expected renewal periods of the respective lease for tenant relationships or assumed exercise of early termination options for in-place lease intangibles) as increases or decreases to depreciation and amortization expense. If a tenant terminates its lease, the unamortized portion of above and below market leases is accelerated into rental income and the in-place lease value and tenant relationships are accelerated into depreciation or amortization expense over the shortened lease term. The purchase price allocated to deferred leasing intangible assets are included in rental property on the accompanying Consolidated Balance Sheets and the purchase price allocated to deferred leasing intangible liabilities are included in deferred leasing intangibles on the accompanying Consolidated Balance Sheets under the liabilities section. In determining the fair value of the debt assumed, the Company discounts the spread between the future contractual interest payments and hypothetical future interest payments on mortgage debt based on a current market rate. The associated fair market value debt adjustment is amortized through interest expense over the life of the debt on a basis which approximates the effective interest method. Using information available at the time of acquisition, the Company allocates the total consideration to tangible assets and liabilities and identified intangible assets and liabilities. The Company may adjust the preliminary purchase price allocations after obtaining more information about asset valuations and liabilities assumed.
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets	The Company evaluates the carrying value of all tangible and intangible rental property assets held for use for possible impairment when an event or change in circumstance has occurred that indicates their carrying value may not be recoverable. The evaluation includes estimating and reviewing anticipated future undiscounted cash flows to be derived from the asset and the ultimate sale of the asset. If such cash flows are less than the asset’s carrying value, an impairment charge is recognized to the extent by which the asset’s carrying value exceeds the estimated fair value. Estimating future cash flows is highly subjective and such estimates could differ from actual results.
Depreciation and Amortization	Depreciation and amortization expense is computed using the straight-line method based on the following lives. Building 40 Years Building and land improvements Up to 20 years Tenant improvements Shorter of useful life or terms of related lease Above and below market leases and other deferred leasing intangibles Terms of the related lease plus terms of bargain renewal options or assumed exercise of early termination options Tenant relationships Terms of the related lease plus estimated renewal period Assumed debt fair value premium/discount Terms of the related loan Fully depreciated or amortized assets or liabilities and the associated accumulated depreciation or amortization are written-off.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid short-term investments with original maturities of three months or less. The Company maintains cash and cash equivalents in United States banking institutions that may exceed amounts insured by the Federal Deposit Insurance Corporation. While the Company monitors the cash balances in its operating accounts, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts, and mitigates this risk by using nationally recognized banking institutions. Restricted Cash Restricted cash may include tenant security deposits and cash held in escrow for real estate taxes and capital improvements as required in various mortgage loan agreements. Restricted cash also may include amounts held by the Company’s transfer agent for preferred stock dividends that are distributed subsequent to period end.
Tenant Accounts Receivable, net	Tenant Accounts Receivable, net Tenant accounts receivable, net on the accompanying Consolidated Balance Sheets includes both tenant accounts receivable, net and accrued rental income, net. The Company provides an allowance for doubtful accounts against the portion of tenant accounts receivable that is estimated to be uncollectible.
Deferred Costs	Deferred Costs Deferred financing fees and debt issuance costs include costs incurred in obtaining debt that are capitalized and are presented as a direct deduction from the carry amount of the associated debt liability that is not a line-of-credit arrangement on the accompanying Consolidated Balance Sheets. Deferred financing fees and debt issuance costs related to line-of-credit arrangements are presented as an asset in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. The deferred financing fees and debt issuance costs are amortized through interest expense over the life of the respective loans on a basis which approximates the effective interest method. Any unamortized amounts upon early repayment of debt are written off in the period of repayment as a loss on extinguishment of debt. Fully amortized deferred financing fees and debt issuance costs are removed from the books upon maturity of the underlying debt. Leasing commissions include commissions, compensation costs of leasing personnel, and other direct and incremental costs incurred to obtain new tenant leases as well as to renew existing tenant leases, and are presented in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. Leasing commission are capitalized and amortized over the terms of the related leases (and bargain renewal terms or assumed exercise of early termination options) using the straight-line method. If a lease terminates prior to the expiration of its initial term, any unamortized costs related to the lease are accelerated into amortization expense. Changes in leasing commissions are presented in the cash flows from operating activities section of the accompanying Consolidated Statements of Cash Flows.
Goodwill	Goodwill The excess of the cost of an acquired business over the net of the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed is recorded as goodwill. Goodwill of the Company of $4.9 million represents amounts allocated to the assembled workforce from the acquired management company, and is presented in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. The Company’s goodwill has an indeterminate life and is not amortized, but is tested for impairment on an annual basis at December 31, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company takes a qualitative approach to consider whether an impairment of goodwill exists prior to quantitatively determining the fair value of the reporting unit in step one of the impairment test. The Company has recorded no impairments to goodwill through December 31, 2016 .
Use of Derivative Financial Instruments	Use of Derivative Financial Instruments The Company records all derivatives on the accompanying Consolidated Balance Sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. In accordance with fair value measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting arrangements on a net basis by counterparty portfolio. Credit risk is the risk of failure of the counterparty to perform under the terms of the contract. The Company minimizes the credit risk in the interest rate swaps by entering into transactions with various high-quality counterparties. The Company’s exposure to credit risk at any point is generally limited to amounts recorded as assets on the accompanying Consolidated Balance Sheets.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial instruments include cash and cash equivalents, restricted cash, tenant accounts receivable, interest rate swaps, accounts payable, accrued expenses, unsecured credit facility, unsecured term loans, unsecured notes and mortgage notes. The fair values of the cash and cash equivalents, restricted cash, tenant accounts receivable, accounts payable and accrued expenses approximate their carrying or contract values because of the short term maturity of these instruments. See Note 4 for the fair values of the Company’s debt. See Note 5 for the fair values of the Company’s interest rate swaps. The Company adopted fair value measurement provisions for its financial instruments recorded at fair value. The guidance establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
Offering Costs	Offering Costs Underwriting commissions and direct offering costs have been reflected as a reduction of additional paid-in capital. Indirect costs associated with equity offerings are expensed as incurred and included in general and administrative expenses on the accompanying Consolidated Statements of Operations.
Dividends	Dividends Earnings and profits, which determine the taxability of dividends to stockholders, will differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of gains on the sale of real property, revenue and expense recognition, and in the estimated useful lives and basis used to compute depreciation. In addition, the Company's distributions include a return of capital. To the extent that the Company makes distributions in excess of its current and accumulated earnings and profits, such distributions would generally be considered a return of capital for federal income tax purposes to the extent of the holder’s adjusted tax basis in its shares. A return of capital is not taxable, but it has the effect of reducing the holder’s adjusted tax basis in its investment.
Revenue Recognition	Revenue Recognition All current leases are classified as operating leases and rental income is recognized on a straight-line basis over the term of the lease (and expected bargain renewal terms or assumed exercise of early termination options) when collectability is reasonably assured. Differences between rental income earned and amounts due under the lease are charged or credited, as applicable, to accrued rental income. Additional rents from expense reimbursements for insurance, real estate taxes and certain other expenses are recognized in the period in which the related expenses are incurred. The Company earns revenue from asset management fees, which are included on the accompanying Consolidated Statements of Operations in other income. The Company recognizes revenue from asset management fees when the related fees are earned and are realized or realizable. Tenant Recoveries By the terms of their leases, certain tenants are obligated to pay directly the costs of their properties’ insurance, real estate taxes, ground lease payments, and certain other expenses, and these costs are not reflected on the Company’s consolidated financial statements. The Company does not recognize recovery revenue related to leases where the tenant has assumed the cost for real estate taxes, insurance, ground lease payments and certain other expenses. To the extent any tenant is responsible for these costs under its respective lease defaults on its lease or it is deemed probable that the tenant will fail to pay for such costs, the Company will record a liability for such obligation. The Company estimates that real estate taxes, which are the responsibility of these certain tenants, were approximately $10.9 million for the year ended December 31, 2016 , $10.2 million for the year ended December 31, 2015 , and $10.2 million for the year ended December 31, 2014 . These amounts would have been the maximum real estate tax expense of the Company, excluding any penalties or interest, had the tenants not met their contractual obligations for these periods. Termination Income Early lease termination fees are recorded in rental income on a straight-line basis from the notification date of such termination to the then remaining (not the original) lease term, if any, or upon collection if collection is not reasonably assured.
Gain on Sales of Rental Property	Gain on the Sales of Rental Property, net The timing of the recognition of gain on the sales of rental property, net is measured against various criteria related to the terms of the transaction and continuing involvement in the form of management or financial assistance associated with the properties. If the sales criteria for the full accrual method are not met, the Company defers some or all of the gain recognition and accounts for the continued operations of the property by applying the finance, leasing, profit sharing, deposit, installment or cost recovery methods, as appropriate, until the sales criteria are met.
Incentive and Equity-Based Employee Compensation Plans	Incentive and Equity-Based Employee Compensation Plans The Company grants equity-based compensation awards to its employees and directors in the form of restricted shares of common stock, LTIP units, outperformance programs, and performance units. See Notes 6, 7 and 8 for further discussion of restricted shares of common stock, LTIP units, and the outperformance programs and performance units, respectively. The Company measures equity-based compensation expense based on the fair value of the awards on the grant date and recognizes the expense ratably over the vesting period, and forfeitures are recognized in the period in which they occur.
Taxes	Taxes Federal Income Taxes The Company elected to be taxed as a REIT under the Code commencing with its taxable year ended December 31, 2011 and intends to continue to qualify as a REIT. The Company is generally not subject to corporate level income tax on the earnings distributed currently to its stockholders that it derives from its REIT qualifying activities. As a REIT, the Company is required to distribute at least 90% of its REIT taxable income to its stockholders and meet the various other requirements imposed by the Code relating to such matters as operating results, asset holdings, distribution levels and diversity of stock ownership. The Company will not be required to make distributions with respect to income derived from the activities conducted through subsidiaries that the Company elects to treat as taxable REIT subsidiaries (“TRS”) for federal income tax purposes, nor will it have to comply with income, assets, or ownership restrictions inside of the TRS. Certain activities that the Company undertakes must or should be conducted by a TRS, such as performing non-customary services for its tenants and holding assets that it cannot hold directly. A TRS is subject to federal and state income taxes. On June 24, 2016, the Operating Partnership, through its wholly owned subsidiary, transferred a vacant land parcel located in Burlington, NJ to the Company's TRS. On August 25, 2015, the Company's TRS acquired two vacant land parcels in connection with the Libertyville, IL acquisition. The Company's TRS recognized a net loss of approximately $0.1 million and $25,000 , for the years ended December 31, 2016 and December 31, 2015 , respectively, which has been included on the accompanying Consolidated Statements of Operations. The TRS did not have any activity during the year ended December 31, 2014 . The following table reconciles net income (loss) to taxable income for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 . Year ended December 31, Reconciliation of Net Income (Loss) to Taxable Income (in thousands) 2016 2015 2014 Net income (loss) $ 35,588 $ (29,345 ) $ (4,685 ) Book/tax differences from depreciation and amortization 66,763 60,959 49,672 Above/below market lease amortization 6,213 8,526 6,253 Loss on impairments 16,845 29,272 2,840 Book/tax difference on termination income 678 (1,815 ) 1,994 Book/tax difference on property acquisition costs 4,498 4,400 4,279 Loss on extinguishment of debt (17 ) — 686 Book/tax difference on accrued bonus payment 1,170 (337 ) 941 Book/tax difference on bad debt expense 83 2 104 Book/tax difference on non-cash compensation 7,188 4,662 4,706 Book/tax difference on gain on the sales of rental property, net (53,580 ) (10,653 ) (4,695 ) Straight-line rent adjustments, net (2,495 ) (3,405 ) (3,255 ) Book/tax difference on non-cash portion of interest expense 1,631 1,266 979 Book/tax difference on prepaid rent of Sec. 467 leases (274 ) 1,887 — Other book/tax differences, net 284 180 78 Loss attributable to noncontrolling interest (4,069 ) (3,011 ) (3,414 ) Taxable income subject to distribution requirement (1) $ 80,506 $ 62,588 $ 56,483 (1) The Company distributed in excess of 100% of its taxable income to its stockholders during the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 , respectively. State and Local Income, Excise, and Franchise Tax The Company and certain of its subsidiaries are subject to certain state and local income, excise and franchise taxes. Taxes in the amount of $1.0 million , $0.9 million and $0.6 million have been recorded in other expenses on the accompanying Consolidated Statements of Operations for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 , respectively. Uncertain Tax Positions Tax benefits of uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained based solely on its technical merits, with the taxing authority having full knowledge of all relevant information. The measurement of a tax benefit for an uncertain tax position that meets the “more likely than not” threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority having full knowledge of all the relevant information. As of December 31, 2016 , December 31, 2015 and December 31, 2014 , there were no liabilities for uncertain tax positions.
Earnings Per Share	Earnings Per Share The Company uses the two-class method of computing earnings per common share, which is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. Under the two-class method, basic earnings per common share are computed by dividing the sum of distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur from shares issuable in connection with awards under incentive and equity-based compensation plans.
Segment Reporting	Segment Reporting The Company manages its operations on an aggregated, single segment basis for purposes of assessing performance and making operating decisions and, accordingly, has only one reporting and operating segment.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of error correction and prior period adjustments	The Company concluded that the amounts were not material to any of its previously issued consolidated financial statements. Accordingly, the Company revised these balances in the accompanying consolidated financial statements as of and for the years ended December 31, 2015 and December 31, 2014 as outlined below. These adjustments do not impact the Company’s cash balances for any of the reporting periods. The effects of this revision to the consolidated financial statements are as follows (in thousands, except for per share data). Effect of Revision As of and For the Year Ended December 31, 2015 As Previously Reported Adjustment As Revised Consolidated Balance Sheet, December 31, 2015 Building and improvements, net of accumulated depreciation $ 1,332,298 $ 2,478 $ 1,334,776 Total assets (1) $ 1,899,304 $ 2,478 $ 1,901,782 Total equity $ 855,379 $ 2,478 $ 857,857 Consolidated Statement of Operations, Year Ended December 31, 2015 Depreciation and amortization $ 112,545 $ (2,124 ) $ 110,421 Total expenses $ 218,999 $ (2,124 ) $ 216,875 Net loss $ (31,469 ) $ 2,124 $ (29,345 ) Net loss attributable to STAG Industrial, Inc. $ (29,403 ) $ 2,020 $ (27,383 ) Net loss attributable to common stockholders $ (40,636 ) $ 2,020 $ (38,616 ) Loss per share attributable to common stockholders — basic and diluted $ (0.61 ) $ 0.03 $ (0.58 ) Consolidated Statement of Comprehensive Income (Loss), Year Ended December 31, 2015 Comprehensive loss $ (33,425 ) $ 2,124 $ (31,301 ) (1) The as previously reported balance for total assets has been retrospectively adjusted to include the effect of the change in accounting principle for the adoption of ASU 2015-03, as discussed in "New Accounting Pronouncements" below. Effect of Revision As of and For the Year Ended December 31, 2014 As Previously Reported Adjustment As Revised Consolidated Balance Sheet, December 31, 2014 Total assets (1) $ 1,623,448 $ 354 $ 1,623,802 Total equity $ 891,524 $ 354 $ 891,878 Consolidated Statement of Operations, Year Ended December 31, 2014 Depreciation and amortization $ 88,057 $ (354 ) $ 87,703 Total expenses $ 155,874 $ (354 ) $ 155,520 Net loss $ (5,039 ) $ 354 $ (4,685 ) Net loss attributable to STAG Industrial, Inc. $ (4,025 ) $ 332 $ (3,693 ) Net loss attributable to common stockholders $ (15,218 ) $ 332 $ (14,886 ) Loss per share attributable to common stockholders — basic and diluted $ (0.28 ) $ — $ (0.28 ) Consolidated Statement of Comprehensive Income (Loss), Year Ended December 31, 2014 Comprehensive loss $ (9,236 ) $ 354 $ (8,882 ) (1) The as previously reported balance for total assets has been retrospectively adjusted to include the effect of the change in accounting principle for the adoption of ASU 2015-03, as discussed in "New Accounting Pronouncements" below.
Schedule of estimated useful lives of PP&E	Depreciation and amortization expense is computed using the straight-line method based on the following lives. Building 40 Years Building and land improvements Up to 20 years Tenant improvements Shorter of useful life or terms of related lease Above and below market leases and other deferred leasing intangibles Terms of the related lease plus terms of bargain renewal options or assumed exercise of early termination options Tenant relationships Terms of the related lease plus estimated renewal period Assumed debt fair value premium/discount Terms of the related loan
Schedule of estimated useful lives of finite-lived intangible assets	Depreciation and amortization expense is computed using the straight-line method based on the following lives. Building 40 Years Building and land improvements Up to 20 years Tenant improvements Shorter of useful life or terms of related lease Above and below market leases and other deferred leasing intangibles Terms of the related lease plus terms of bargain renewal options or assumed exercise of early termination options Tenant relationships Terms of the related lease plus estimated renewal period Assumed debt fair value premium/discount Terms of the related loan
Schedule of tax treatment of common dividends per share for federal income tax	The tax treatment of common dividends per share for federal income tax purposes is as follows. Year ended December 31, 2016 2015 2014 Per Share % Per Share % Per Share % Ordinary income $ 0.944038 68.0 % $ 0.777244 57.2 % $ 0.843245 65.9 % Return of capital 0.445125 32.0 % 0.582756 42.8 % 0.436755 34.1 % Total (1) $ 1.389163 100.0 % $ 1.36000 100.0 % $ 1.280000 100.0 % (1) The December 2014 monthly common stock dividend of $0.11 per share was included in the stockholder’s 2015 tax year. The December 2015 monthly common stock dividend of $0.115 per share was included in the stockholder’s 2016 tax year. The December 2016 monthly common stock dividend of $0.115833 per share will be included in the stockholder’s 2017 tax year. The tables below set forth the dividends attributable to the common stock that were declared or paid during the years ended December 31, 2016 and December 31, 2015 , respectively. Month Ended 2016 Declaration Date Record Date Per Share Payment Date December 31 August 1, 2016 December 30, 2016 $ 0.115833 January 17, 2017 November 30 August 1, 2016 November 30, 2016 0.115833 December 15, 2016 October 31 August 1, 2016 October 31, 2016 0.115833 November 15, 2016 September 30 May 2, 2016 September 30, 2016 0.115833 October 17, 2016 August 31 May 2, 2016 August 31, 2016 0.115833 September 15, 2016 July 31 May 2, 2016 July 29, 2016 0.115833 August 15, 2016 June 30 February 22, 2016 June 30, 2016 0.115833 July 15, 2016 May 31 February 22, 2016 May 31, 2016 0.115833 June 15, 2016 April 30 February 22, 2016 April 29, 2016 0.115833 May 16, 2016 March 31 October 22, 2015 March 31, 2016 0.115833 April 15, 2016 February 29 October 22, 2015 February 29, 2016 0.115833 March 15, 2016 January 31 October 22, 2015 January 29, 2016 0.115833 February 16, 2016 Total $ 1.389996 Month Ended 2015 Declaration Date Record Date Per Share Payment Date December 31 July 21, 2015 December 31, 2015 $ 0.1150 January 15, 2016 November 30 July 21, 2015 November 30, 2015 0.1150 December 15, 2015 October 31 July 21, 2015 October 30, 2015 0.1150 November 16, 2015 September 30 May 4, 2015 September 30, 2015 0.1150 October 15, 2015 August 31 May 4, 2015 August 31, 2015 0.1150 September 15, 2015 July 31 May 4, 2015 July 31, 2015 0.1150 August 17, 2015 June 30 February 20, 2015 June 30, 2015 0.1125 July 15, 2015 May 31 February 20, 2015 May 29, 2015 0.1125 June 15, 2015 April 30 February 20, 2015 April 30, 2015 0.1125 May 15, 2015 March 31 October 30, 2014 March 31, 2015 0.1125 April 15, 2015 February 28 October 30, 2014 February 27, 2015 0.1125 March 16, 2015 January 31 October 30, 2014 January 31, 2015 0.1125 February 17, 2015 Total $ 1.3650 The tables below set forth the dividends attributable to the Preferred Stock Issuances during the years ended December 31, 2016 and December 31, 2015 . Quarter Ended 2016 Declaration Date Series A Series B Series C Payment Date December 31 November 2, 2016 (1) $ 0.19375 (1) $ 0.4140625 $ 0.4296875 December 30, 2016 September 30 August 1, 2016 0.56250 0.4140625 0.4296875 September 30, 2016 June 30 May 2, 2016 0.56250 0.4140625 0.4965300 (2) June 30, 2016 March 31 February 22, 2016 0.56250 0.4140625 — March 31, 2016 Total $ 1.88125 $ 1.6562500 $ 1.3559050 (1) On September 26, 2016 the board of directors approved the redemption of the Series A Preferred Stock. On November 2, 2016 the Company redeemed all of the Series A Preferred Stock, at a cash redemption price of $25.00 per share, plus accrued and unpaid dividends to but excluding the redemption date, without interest. (2) Dividends for the Series C Preferred Stock were accrued and cumulative from and including March 17, 2016 to the first payment date on June 30, 2016. Quarter Ended 2015 Declaration Date Series A Series B Payment Date December 31 October 22, 2015 $ 0.5625 $ 0.4140625 December 31, 2015 September 30 July 21, 2015 0.5625 0.4140625 September 30, 2015 June 30 May 4, 2015 0.5625 0.4140625 June 30, 2015 March 31 February 20, 2015 0.5625 0.4140625 March 31, 2015 Total $ 2.2500 $ 1.6562500
Schedule of reconciliation of net income (loss) to taxable income	The following table reconciles net income (loss) to taxable income for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 . Year ended December 31, Reconciliation of Net Income (Loss) to Taxable Income (in thousands) 2016 2015 2014 Net income (loss) $ 35,588 $ (29,345 ) $ (4,685 ) Book/tax differences from depreciation and amortization 66,763 60,959 49,672 Above/below market lease amortization 6,213 8,526 6,253 Loss on impairments 16,845 29,272 2,840 Book/tax difference on termination income 678 (1,815 ) 1,994 Book/tax difference on property acquisition costs 4,498 4,400 4,279 Loss on extinguishment of debt (17 ) — 686 Book/tax difference on accrued bonus payment 1,170 (337 ) 941 Book/tax difference on bad debt expense 83 2 104 Book/tax difference on non-cash compensation 7,188 4,662 4,706 Book/tax difference on gain on the sales of rental property, net (53,580 ) (10,653 ) (4,695 ) Straight-line rent adjustments, net (2,495 ) (3,405 ) (3,255 ) Book/tax difference on non-cash portion of interest expense 1,631 1,266 979 Book/tax difference on prepaid rent of Sec. 467 leases (274 ) 1,887 — Other book/tax differences, net 284 180 78 Loss attributable to noncontrolling interest (4,069 ) (3,011 ) (3,414 ) Taxable income subject to distribution requirement (1) $ 80,506 $ 62,588 $ 56,483 (1) The Company distributed in excess of 100% of its taxable income to its stockholders during the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 , respectively.

Rental Property (Tables)

Rental Property (Tables)	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Schedule of components of rental property	The following table summarizes the components of rental property, net as of December 31, 2016 and December 31, 2015 . Rental Property, net (in thousands) December 31, 2016 December 31, 2015 Land $ 272,162 $ 228,919 Buildings, net of accumulated depreciation of $125,971 and $101,819, respectivel y 1,408,406 1,234,838 Tenant improvements, net of accumulated depreciation of $28,388 and $26,283, respectively 24,974 23,586 Building and land improvements, net of accumulated depreciation of $33,054 and $19,815, respectivel y 107,463 74,694 Construction in progress 9,298 1,658 Deferred leasing intangibles, net of accumulated amortization of $237,456 and $200,758, respectively 294,533 276,272 Total rental property, net $ 2,116,836 $ 1,839,967
Schedule of real estate properties acquired	The following tables summarize the acquisitions of the Company during the years ended December 31, 2016 and December 31, 2015 . Year ended December 31, 2016 Location of Property Square Feet Buildings Purchase Price (in thousands) Biddeford, ME 265,126 2 $ 12,452 Fairfield, OH 206,448 1 5,330 Mascot, TN 130,560 1 4,500 Erlanger, KY 108,620 1 5,600 Three months ended March 31, 2016 710,754 5 27,882 West Chicago, IL 249,470 1 8,663 Visalia, CA 635,281 1 27,921 Norcross, GA 152,036 1 5,508 Reading, PA 248,000 1 9,594 Charlotte, NC 104,852 1 6,517 Three months ended June 30, 2016 1,389,639 5 58,203 Columbia, SC 185,600 1 7,300 Graniteville, SC 450,000 1 15,675 Fountain Inn, SC 168,087 1 7,025 Langhorne, PA 217,000 2 11,250 Warren, MI 268,000 1 18,700 New Castle, DE 485,987 1 27,500 Westborough, MA 121,700 1 7,885 Cedar Hill, TX 420,000 1 19,100 Forest Park, GA 799,200 2 24,915 Rock Hill, SC 315,520 1 9,850 Gardiner, ME 265,000 1 16,800 Three months ended September 30, 2016 3,696,094 13 166,000 Langhorne, PA 172,647 1 9,500 Grove City, OH 175,512 1 5,400 Olathe, KS 496,373 1 23,194 Houston, TX 223,599 1 13,444 Itasca, IL 202,000 1 20,641 Kenosha, WI 175,052 1 5,975 Oklahoma City, OK 80,400 1 3,400 San Antonio, TX 247,861 1 12,050 Wood Dale, IL 137,607 1 8,565 Hartland, WI 121,050 1 7,400 Earth City, MO 116,783 1 5,450 Spartanburg, SC 572,038 1 20,762 West Columbia, SC 119,852 1 5,725 West Chicago, IL 305,874 5 10,400 DeForest, WI 254,431 1 7,800 Montgomery, AL 332,000 1 8,750 West Chester, OH 269,868 1 11,150 West Columbia, SC 176,400 1 11,850 Brooklyn Park, MN 200,720 1 20,532 East Windsor, CT 126,111 1 7,725 Three months ended December 31, 2016 4,506,178 24 219,713 Year ended December 31, 2016 10,302,665 47 $ 471,798 Year ended December 31, 2015 Location of Property Square Feet Buildings Purchase Price (in thousands) Burlington, NJ 503,490 1 $ 34,883 Greenville, SC 157,500 1 4,800 North Haven, CT 824,727 3 57,400 Three months ended March 31, 2015 1,485,717 5 97,083 Plymouth, MI 125,214 1 6,000 Oakwood Village, OH 75,000 1 4,398 Stoughton, MA 250,213 2 10,675 Oklahoma City, OK 223,340 1 12,135 Clinton, TN 166,000 1 5,000 Knoxville, TN 108,400 1 4,750 Fairborn, OH 258,680 1 9,100 El Paso, TX 126,456 1 9,700 Phoenix, AZ 102,747 1 9,500 Charlotte, NC 123,333 1 7,500 Machesney Park, IL 80,000 1 5,050 Three months ended June 30, 2015 1,639,383 12 83,808 Macedonia, OH 201,519 1 12,192 Novi, MI 125,060 1 8,716 Grand Junction, CO 82,800 1 5,254 Tulsa, OK 175,000 1 13,000 Chattanooga, TN 646,200 3 21,160 Libertyville, IL 287,102 2 11,121 Greer, SC 290,000 4 9,025 Piedmont, SC 400,000 3 12,000 Belvidere, IL 100,000 1 5,938 Conyers, GA 201,403 1 9,880 Three months ended September 30, 2015 2,509,084 18 108,286 Durham, NC 80,600 1 4,200 Charlotte, NC 124,680 1 5,423 Shreveport, LA 420,259 1 11,000 Dayton, OH 205,761 1 8,803 West Allis, WI 241,977 4 9,900 Loudon, TN 104,000 1 5,375 Garland, TX 164,914 1 7,600 Laurens, SC 125,000 1 5,535 Lancaster, PA 240,529 1 9,350 Grand Rapids, MI 301,317 1 9,400 Burlington, NJ 1,048,631 1 61,500 Three months ended December 31, 2015 3,057,668 14 138,086 Year ended December 31, 2015 8,691,852 49 $ 427,263
Summary of allocation of the consideration paid for the acquired assets and liabilities in connection with the acquisition of buildings at the date of acquisition	The following table summarizes the allocation of the consideration paid at the date of acquisition during the years ended December 31, 2016 and December 31, 2015 , respectively, for the acquired assets and liabilities in connection with the acquisitions identified in the tables above. Year ended December 31, 2016 Year ended December 31, 2015 Acquired Assets and Liabilities Purchase price (in thousands) Weighted average amortization period (years) of intangibles at acquisition Purchase price (in thousands) Weighted average amortization period (years) of intangibles at acquisition Land $ 59,630 N/A $ 45,117 N/A Buildings 283,758 N/A 256,970 N/A Tenant improvements 8,670 N/A 7,705 N/A Building and land improvements 29,073 N/A 20,712 N/A Deferred leasing intangibles - In-place leases 62,533 8.2 58,109 5.6 Deferred leasing intangibles - Tenant relationships 30,446 10.4 31,390 8.0 Deferred leasing intangibles - Above market leases 10,576 9.2 11,135 7.3 Deferred leasing intangibles - Below market leases (12,971 ) 8.5 (4,022 ) 5.2 Above market assumed debt adjustment (75 ) 7.2 (418 ) 1.4 Other assets 158 N/A 565 N/A Total purchase price 471,798 427,263 Less: Mortgage notes assumed (4,037 ) (26,267 ) Less: Contingent consideration — (300 ) (1) Net assets acquired $ 467,761 $ 400,696 (1) In connection with the acquisition of the property located in West Allis, WI, the Company withheld $0.3 million that was otherwise due and payable to the seller. Under the terms of the purchase and sale agreement, the Company will pay the full amount to the seller by December 4, 2020, subject to the performance of the tenant under the in-place lease agreement.
Schedule of pro forma information for acquired properties	The table below sets forth the results of operations for the years ended December 31, 2016 and December 31, 2015 for the properties acquired during the years ended December 31, 2016 and December 31, 2015 , respectively, included in the Company’s Consolidated Statements of Operations from the date of acquisition. Results of Operations (in thousands) Year ended December 31, 2016 Year ended December 31, 2015 Revenue $ 13,105 $ 17,879 Property acquisition costs $ 4,386 $ 4,382 Net loss $ 3,560 $ 3,052 The following tables set forth pro forma information for the years ended December 31, 2016 and December 31, 2015 . The below pro forma information does not purport to represent what the actual results of operations of the Company would have been had the acquisitions outlined above occurred on the first day of the applicable reporting period, nor do they purport to predict the results of operations of future periods. The pro forma information has not been adjusted for property sales. Pro Forma (in thousands) (1) Year ended December 31, 2016 Total revenue $ 277,811 Net income $ 46,139 (2) Net income attributable to common stockholders $ 30,269 Pro Forma (in thousands) (3) Year ended December 31, 2015 Total revenue $ 282,235 Net loss $ 42,617 (2) Net loss attributable to common stockholders $ 53,850 (1) The unaudited pro forma information for the year ended December 31, 2016 is presented as if the properties acquired during the year ended December 31, 2016 had occurred at January 1, 2015 , the beginning of the reporting period prior to acquisition. (2) The net loss for the year ended December 31, 2016 excludes approximately $4.4 million of property acquisition costs related to the acquisition of buildings that closed during the year ended December 31, 2016 , and the net loss for the year ended December 31, 2015 was adjusted to include these acquisition costs. Net loss for the year ended December 31, 2015 excludes approximately $4.4 million of property acquisition costs related to the acquisition of buildings that closed during the year ended December 31, 2015 . (3) The unaudited pro forma information for the year ended December 31, 2015 is presented as if the properties acquired during the year ended December 31, 2016 and the properties acquired during the year ended December 31, 2015 had occurred at January 1, 2015 and January 1, 2014 , respectively, the beginning of the reporting period prior to acquisition.
Schedule of Finite-Lived Intangible Assets and Below Market Leases	December 31, 2016 December 31, 2015 Deferred Leasing Intangibles (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Above market leases $ 70,668 $ (32,868 ) $ 37,800 $ 69,815 $ (31,554 ) $ 38,261 Other intangible lease assets 461,321 (204,588 ) 256,733 407,215 (169,204 ) 238,011 Total deferred leasing intangible assets $ 531,989 $ (237,456 ) $ 294,533 $ 477,030 $ (200,758 ) $ 276,272 Below market leases $ 30,791 $ (10,450 ) $ 20,341 $ 19,923 $ (8,536 ) $ 11,387 Total deferred leasing intangible liabilities $ 30,791 $ (10,450 ) $ 20,341 $ 19,923 $ (8,536 ) $ 11,387 The following table sets forth the amortization expense and the net decrease to rental income for the amortization of deferred leasing intangibles during the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 . Year ended December 31, Deferred Leasing Intangibles Amortization (in thousands) 2016 2015 2014 Net decrease to rental income related to above and below market lease amortization $ 6,213 $ 8,526 $ 6,254 Amortization expense related to other intangible lease assets $ 66,291 $ 60,834 $ 50,319
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	December 31, 2016 . Year Amortization Expense Related to Other Intangible Lease Assets (in thousands) Net Decrease to Rental Income Related to Above and Below Market Lease Amortization (in thousands) 2017 $ 63,474 $ 4,514 2018 $ 50,375 $ 3,383 2019 $ 38,258 $ 2,813 2020 $ 29,681 $ 2,402 2021 $ 20,915 $ 1,288
Below Market Lease, Future Amortization Income	December 31, 2016 . Year Amortization Expense Related to Other Intangible Lease Assets (in thousands) Net Decrease to Rental Income Related to Above and Below Market Lease Amortization (in thousands) 2017 $ 63,474 $ 4,514 2018 $ 50,375 $ 3,383 2019 $ 38,258 $ 2,813 2020 $ 29,681 $ 2,402 2021 $ 20,915 $ 1,288

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	On September 29, 2015, the Company closed the $150.0 million Unsecured Term Loan C with the following terms. Applicable Terms Unsecured Term Loan C Maturity Date: Sep-29-2020 Eurodollar Rate (1) : L + 130.0 bps - 190.0 bps Base Rate (1) : Base rate + 30.0 bps - 90.0 bps Unused Fees (2) : 17.5 bps Annual Fee: $50,000 (1) The spread over the applicable rate is currently based on the Company's consolidated leverage ratio, as defined in the loan agreement. (2) The unused fees began to accrue on November 29, 2015 and were due and payable monthly until all commitments were drawn.
Summary of the mortgage notes payable, unsecured term loans and credit facility	The following table sets forth a summary of the Company’s outstanding indebtedness, including borrowings under the Company’s unsecured credit facility, unsecured term loans, unsecured notes and mortgage notes as of December 31, 2016 and December 31, 2015 . Loan Principal outstanding as of December 31, 2016 (in thousands) Principal outstanding as of December 31, 2015 (in thousands) Interest (1) Current Maturity Prepayment Terms (2) Unsecured credit facility: Unsecured Credit Facility (3) $ 28,000 $ 56,000 L + 1.15% Dec-18-2019 i Total unsecured credit facility 28,000 56,000 Unsecured term loans: Unsecured Term Loan C 150,000 — L + 1.30% Sep-29-2020 i Unsecured Term Loan B 150,000 150,000 L + 1.30% Mar-21-2021 i Unsecured Term Loan A 150,000 150,000 L + 1.30% Mar-31-2022 i Total unsecured term loans 450,000 300,000 Less: Total unamortized deferred financing fees and debt issuance costs (3,392 ) (3,382 ) Total carrying value unsecured term loans 446,608 296,618 Unsecured notes: Series F Unsecured Notes 100,000 100,000 3.98 % Jan-05-2023 ii Series A Unsecured Notes 50,000 50,000 4.98 % Oct-1-2024 ii Series D Unsecured Notes 100,000 100,000 4.32 % Feb-20-2025 ii Series B Unsecured Notes 50,000 50,000 4.98 % Jul-1-2026 ii Series C Unsecured Notes 80,000 80,000 4.42 % Dec-30-2026 ii Series E Unsecured Notes 20,000 20,000 4.42 % Feb-20-2027 ii Total unsecured notes 400,000 400,000 Less: Total unamortized deferred financing fees and debt issuance costs (2,034 ) (2,280 ) Total carrying value unsecured notes 397,966 397,720 Mortgage notes (secured debt): Sun Life Assurance Company of Canada (U.S.) — 3,229 6.05 % Jun-1-2016 iii Webster Bank, National Association — 5,513 4.22 % Aug-4-2016 iii National Life Insurance Company — 4,775 5.75 % Aug-10-2016 iii Union Fidelity Life Insurance Co. 5,384 5,754 5.81 % Apr-30-2017 iv Principal Life Insurance Company — 5,676 5.73 % May-05-2017 iii Webster Bank, National Association 2,853 2,945 3.66 % May-29-2017 iii Webster Bank, National Association 3,073 3,172 3.64 % May-31-2017 iii Wells Fargo, National Association 4,043 4,115 5.90 % Aug-1-2017 v Connecticut General Life Insurance Company -1 Facility 35,320 57,171 6.50 % Feb-1-2018 vi Connecticut General Life Insurance Company -2 Facility 36,892 58,085 5.75 % Feb-1-2018 vi Connecticut General Life Insurance Company -3 Facility 16,141 16,401 5.88 % Feb-1-2018 vi Wells Fargo, National Association CMBS Loan 56,608 63,897 4.31 % Dec-1-2022 vii Thrivent Financial for Lutherans 4,012 — 4.78 % Dec-15-2023 iii Total mortgage notes 164,326 230,733 Total unamortized fair market value premiums 112 447 Less: Total unamortized deferred financing fees and debt issuance costs (873 ) (1,270 ) Total carrying value mortgage notes 163,565 229,910 Total / weighted average interest rate (4) $ 1,036,139 $ 980,248 3.75 % (1) Current interest rate as of December 31, 2016 . At December 31, 2016 and December 31, 2015 , the one-month LIBOR (“L”) was 0.77167% and 0.42950% , respectively. The current interest rate is not adjusted to include the amortization of deferred financing fees or debt issuance costs incurred in obtaining debt or any unamortized fair market value premiums. (2) Prepayment terms consist of (i) pre-payable with no penalty; (ii) pre-payable with penalty; (iii) pre-payable without penalty three months prior to the maturity date; (iv) pre-payable without penalty two months prior to the maturity date; (v) pre-payable without penalty three months prior to the maturity date; however, can be defeased; (vi) pre-payable without penalty six months prior to the maturity date; and (vii) pre-payable without penalty three months prior to the maturity date; however, can be defeased beginning January 1, 2016. (3) The capacity of the unsecured credit facility is currently $450.0 million . (4) The weighted average interest rate was calculated using the fixed interest rate swapped on the current notional amount of $450.0 million of debt, and is not adjusted to include the amortization of deferred financing fees or debt issuance costs incurred in obtaining debt or any unamortized fair market value premiums.
Schedule of aggregate carrying value of the debt and the corresponding estimate of fair value	December 31, 2016 and December 31, 2015 (in thousands). December 31, 2016 December 31, 2015 Principal Outstanding Fair Value Principal Outstanding Fair Value Unsecured credit facility $ 28,000 $ 28,000 $ 56,000 $ 56,000 Unsecured term loans 450,000 450,000 300,000 303,457 Unsecured notes 400,000 399,091 400,000 392,054 Mortgage notes 164,326 166,099 230,733 237,327 Total principal amount 1,042,326 $ 1,043,190 986,733 $ 988,838 Add: Total unamortized fair market value premiums 112 447 Less: Total unamortized deferred financing fees and debt issuance costs (6,299 ) (6,932 ) Total carrying value $ 1,036,139 $ 980,248
Schedule of aggregate future principal payments of debt	The following table reflects the Company’s aggregate future principal payments of the Company’s debt at December 31, 2016 . Year Future Principal Payments of Debt (in thousands) 2017 $ 18,737 2018 88,578 2019 29,926 2020 152,006 2021 152,103 Thereafter 600,976 Total aggregate principal payments 1,042,326 Total unamortized fair market value premiums 112 Less: Total unamortized deferred financing fees and debt issuance costs (6,299 ) Total carrying value $ 1,036,139

Use of Derivative Financial I28

Use of Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments [Table Text Block]	The following table details the Company’s outstanding interest rate swaps as of December 31, 2016 . Interest Rate Trade Date Effective Date Notional Amount Fair Value Pay Fixed Interest Rate Receive Variable Interest Rate Maturity Date PNC Bank, N.A. Sep-14-2012 Oct-10-2012 $ 10,000 $ 6 0.7945 % One-month L Sep-10-2017 Bank of America, N.A. Sep-14-2012 Oct-10-2012 $ 10,000 $ 6 0.7945 % One-month L Sep-10-2017 UBS AG Sep-14-2012 Oct-10-2012 $ 10,000 $ 6 0.7945 % One-month L Sep-10-2017 Royal Bank of Canada Sep-14-2012 Oct-10-2012 $ 10,000 $ 6 0.7945 % One-month L Sep-10-2017 RJ Capital Services, Inc. Sep-14-2012 Oct-10-2012 $ 10,000 $ 5 0.7975 % One-month L Sep-10-2017 Bank of America, N.A. Sep-20-2012 Oct-10-2012 $ 25,000 $ 21 0.7525 % One-month L Sep-10-2017 RJ Capital Services, Inc. Sep-24-2012 Oct-10-2012 $ 25,000 $ 26 0.7270 % One-month L Sep-10-2017 Regions Bank Mar-01-2013 Mar-01-2013 $ 25,000 $ 131 1.3300 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Jul-01-2013 $ 50,000 $ (274 ) 1.6810 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Aug-01-2013 $ 25,000 $ (154 ) 1.7030 % One-month L Feb-14-2020 Regions Bank Sep-30-2013 Feb-03-2014 $ 25,000 $ (378 ) 1.9925 % One-month L Feb-14-2020 The Toronto-Dominion Bank Oct-14-2015 Sep-29-2016 $ 25,000 $ 217 1.3830 % One-month L Sep-29-2020 PNC Bank, N.A. Oct-14-2015 Sep-29-2016 $ 50,000 $ 421 1.3906 % One-month L Sep-29-2020 Regions Bank Oct-14-2015 Sep-29-2016 $ 35,000 $ 292 1.3858 % One-month L Sep-29-2020 U.S. Bank, N.A. Oct-14-2015 Sep-29-2016 $ 25,000 $ 207 1.3950 % One-month L Sep-29-2020 Capital One, N.A. Oct-14-2015 Sep-29-2016 $ 15,000 $ 123 1.3950 % One-month L Sep-29-2020 Royal Bank of Canada Jan-08-2015 Mar-20-2015 $ 25,000 $ (16 ) 1.7090 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Mar-20-2015 $ 25,000 $ (18 ) 1.7105 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Sep-10-2017 $ 100,000 $ (1,240 ) 2.2255 % One-month L Mar-21-2021 Wells Fargo, N.A. Jan-08-2015 Mar-20-2015 $ 25,000 $ 4 1.8280 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jan-08-2015 Feb-14-2020 $ 25,000 $ (50 ) 2.4535 % One-month L Mar-31-2022 Regions Bank Jan-08-2015 Feb-14-2020 $ 50,000 $ (133 ) 2.4750 % One-month L Mar-31-2022 Capital One, N.A. Jan-08-2015 Feb-14-2020 $ 50,000 $ (175 ) 2.5300 % One-month L Mar-31-2022
Schedule of interest rate swaps	The fair value of the interest rate swaps outstanding as of December 31, 2016 and December 31, 2015 was as follows. Balance Sheet Line Item (in thousands) Notional Amount December 31, 2016 Fair Value December 31, 2016 Notional Amount December 31, 2015 Fair Value December 31, 2015 Interest rate swaps-Asset $ 300,000 $ 1,471 $ 275,000 $ 1,867 Interest rate swaps-Liability $ 375,000 $ (2,438 ) $ 400,000 $ (3,766 )
Schedule of the location in the financial statements of the gain or loss recognized on interest rate swaps	The table below details the location in the financial statements of the gain or loss recognized on interest rate swaps designated as cash flow hedges for the years ended December 31, 2016 , December 31, 2015 , and December 31, 2014 , (in thousands). Year ended December 31, 2016 2015 2014 Amount of loss recognized in accumulated other comprehensive loss on interest rate swaps (effective portion) $ 2,244 $ 5,387 $ 6,705 Amount of loss reclassified from accumulated other comprehensive loss into income (loss) as interest expense (effective portion) $ 3,142 $ 3,431 $ 2,508 Amount of gain recognized in interest expense (ineffective portion and amount excluded from effectiveness testing) $ 66 $ — $ —
Schedule of financial instruments accounted for at fair value on a recurring basis	The following sets forth the Company’s financial instruments that are accounted for at fair value on a recurring basis as of December 31, 2016 and December 31, 2015 . Fair Value Measurements as of Balance Sheet Line Item (in thousands) Fair Value December 31, 2016 Level 1 Level 2 Level 3 Interest rate swaps-Asset $ 1,471 $ — $ 1,471 $ — Interest rate swaps-Liability $ (2,438 ) $ — $ (2,438 ) $ — Fair Value Measurements as of Balance Sheet Line Item (in thousands) Fair Value December 31, 2015 Level 1 Level 2 Level 3 Interest rate swaps-Asset $ 1,867 $ — $ 1,867 $ — Interest rate swaps-Liability $ (3,766 ) $ — $ (3,766 ) $ —

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class	The table below sets forth the Company’s outstanding preferred stock issuances as of December 31, 2016 . Preferred Stock Issuances Issuance Date Number of Shares Price and Liquidation Value Per Share Interest Rate Series B Cumulative Redeemable Preferred Stock April 16, 2013 2,800,000 $ 25.00 6.625 % Series C Cumulative Redeemable Preferred Stock March 17, 2016 3,000,000 $ 25.00 6.875 %
Schedule of dividends	The tax treatment of common dividends per share for federal income tax purposes is as follows. Year ended December 31, 2016 2015 2014 Per Share % Per Share % Per Share % Ordinary income $ 0.944038 68.0 % $ 0.777244 57.2 % $ 0.843245 65.9 % Return of capital 0.445125 32.0 % 0.582756 42.8 % 0.436755 34.1 % Total (1) $ 1.389163 100.0 % $ 1.36000 100.0 % $ 1.280000 100.0 % (1) The December 2014 monthly common stock dividend of $0.11 per share was included in the stockholder’s 2015 tax year. The December 2015 monthly common stock dividend of $0.115 per share was included in the stockholder’s 2016 tax year. The December 2016 monthly common stock dividend of $0.115833 per share will be included in the stockholder’s 2017 tax year. The tables below set forth the dividends attributable to the common stock that were declared or paid during the years ended December 31, 2016 and December 31, 2015 , respectively. Month Ended 2016 Declaration Date Record Date Per Share Payment Date December 31 August 1, 2016 December 30, 2016 $ 0.115833 January 17, 2017 November 30 August 1, 2016 November 30, 2016 0.115833 December 15, 2016 October 31 August 1, 2016 October 31, 2016 0.115833 November 15, 2016 September 30 May 2, 2016 September 30, 2016 0.115833 October 17, 2016 August 31 May 2, 2016 August 31, 2016 0.115833 September 15, 2016 July 31 May 2, 2016 July 29, 2016 0.115833 August 15, 2016 June 30 February 22, 2016 June 30, 2016 0.115833 July 15, 2016 May 31 February 22, 2016 May 31, 2016 0.115833 June 15, 2016 April 30 February 22, 2016 April 29, 2016 0.115833 May 16, 2016 March 31 October 22, 2015 March 31, 2016 0.115833 April 15, 2016 February 29 October 22, 2015 February 29, 2016 0.115833 March 15, 2016 January 31 October 22, 2015 January 29, 2016 0.115833 February 16, 2016 Total $ 1.389996 Month Ended 2015 Declaration Date Record Date Per Share Payment Date December 31 July 21, 2015 December 31, 2015 $ 0.1150 January 15, 2016 November 30 July 21, 2015 November 30, 2015 0.1150 December 15, 2015 October 31 July 21, 2015 October 30, 2015 0.1150 November 16, 2015 September 30 May 4, 2015 September 30, 2015 0.1150 October 15, 2015 August 31 May 4, 2015 August 31, 2015 0.1150 September 15, 2015 July 31 May 4, 2015 July 31, 2015 0.1150 August 17, 2015 June 30 February 20, 2015 June 30, 2015 0.1125 July 15, 2015 May 31 February 20, 2015 May 29, 2015 0.1125 June 15, 2015 April 30 February 20, 2015 April 30, 2015 0.1125 May 15, 2015 March 31 October 30, 2014 March 31, 2015 0.1125 April 15, 2015 February 28 October 30, 2014 February 27, 2015 0.1125 March 16, 2015 January 31 October 30, 2014 January 31, 2015 0.1125 February 17, 2015 Total $ 1.3650 The tables below set forth the dividends attributable to the Preferred Stock Issuances during the years ended December 31, 2016 and December 31, 2015 . Quarter Ended 2016 Declaration Date Series A Series B Series C Payment Date December 31 November 2, 2016 (1) $ 0.19375 (1) $ 0.4140625 $ 0.4296875 December 30, 2016 September 30 August 1, 2016 0.56250 0.4140625 0.4296875 September 30, 2016 June 30 May 2, 2016 0.56250 0.4140625 0.4965300 (2) June 30, 2016 March 31 February 22, 2016 0.56250 0.4140625 — March 31, 2016 Total $ 1.88125 $ 1.6562500 $ 1.3559050 (1) On September 26, 2016 the board of directors approved the redemption of the Series A Preferred Stock. On November 2, 2016 the Company redeemed all of the Series A Preferred Stock, at a cash redemption price of $25.00 per share, plus accrued and unpaid dividends to but excluding the redemption date, without interest. (2) Dividends for the Series C Preferred Stock were accrued and cumulative from and including March 17, 2016 to the first payment date on June 30, 2016. Quarter Ended 2015 Declaration Date Series A Series B Payment Date December 31 October 22, 2015 $ 0.5625 $ 0.4140625 December 31, 2015 September 30 July 21, 2015 0.5625 0.4140625 September 30, 2015 June 30 May 4, 2015 0.5625 0.4140625 June 30, 2015 March 31 February 20, 2015 0.5625 0.4140625 March 31, 2015 Total $ 2.2500 $ 1.6562500
Schedule of stock sale activity	The following sets forth the Company’s at-the market ("ATM") common stock offering programs as of December 31, 2016 . ATM Stock Offering Program (in thousands) Date Maximum Aggregate Offering Price Aggregate Common Stock Available as of December 31, 2016 (in thousands) 2016 $228 million ATM November 8, 2016 $ 228,218 $ 117,331 The tables below set forth the activity for the ATM common stock offering programs during the years ended December 31, 2016 and December 31, 2015 (in thousands, except share data). Year ended December 31, 2016 ATM Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2016 $228 million ATM 4,763,838 $ 23.28 $ 110,887 $ 1,550 $ 109,337 2016 $200 million ATM (1) 7,326,200 $ 23.45 171,782 2,429 169,353 Total/weighted average 12,090,038 $ 23.38 $ 282,669 $ 3,979 $ 278,690 (1) This program ended before December 31, 2016 . Year ended December 31, 2015 ATM Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2014 $200 million ATM (1) 2,661,403 $ 21.63 $ 57,571 $ 864 $ 56,707 2014 $150 million ATM (1) 795,000 $ 21.79 17,321 260 17,061 Total/weighted average 3,456,403 $ 21.67 $ 74,892 $ 1,124 $ 73,768 (1) This program ended before December 31, 2016 .
Schedule of activity related to unvested restricted stock awards	The following table summarizes activity related to the Company’s unvested restricted shares of common stock for the years ended December 31, 2016 and December 31, 2015 . Unvested Restricted Shares of Common Stock Shares Balance at December 31, 2014 263,916 Granted 94,290 (1) Vested (72,185 ) Forfeited (14,906 ) Balance at December 31, 2015 271,115 Granted 101,289 (2) Vested (98,746 ) Forfeited (1,321 ) Balance at December 31, 2016 272,337 (1) The grant date fair value per share was $26.17 . (2) The grant date fair value per share was $17.98 .
Schedule of fair value at vesting date for awards vesting during the period	The following table summarizes the fair value at vesting date for the restricted shares of common stock vested during the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 . Year ended December 31, 2016 2015 2014 Vested restricted shares of common stock 98,746 72,185 51,885 Fair value of vested restricted shares of common stock (in thousands) $ 1,813 $ 1,751 $ 1,123

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Noncontrolling interest activity	The table below summarizes the activity for noncontrolling interest in the Company for the years ended December 31, 2016 and December 31, 2015 . LTIP Units Other Common Units Total Noncontrolling Common Units Noncontrolling Interest Balance at December 31, 2014 1,307,036 1,124,813 2,431,849 3.6 % Granted/Issued 323,069 864,283 1,187,352 N/A Forfeitures — — — N/A Conversions from LTIP units to Other Common Units (20,000 ) 20,000 — N/A Redemptions from Other Common Units to common stock — (90,824 ) (90,824 ) N/A Redemption of Other Common Units for cash — (2,400 ) (2,400 ) N/A Balance at December 31, 2015 1,610,105 1,915,872 3,525,977 4.9 % Granted/Issued 176,396 — 176,396 N/A Forfeitures — — — N/A Conversions from LTIP units to Other Common Units (209,985 ) 209,985 — N/A Redemptions from Other Common Units to common stock — (68,492 ) (68,492 ) N/A Balance at December 31, 2016 1,576,516 2,057,365 3,633,881 4.3 %
Schedule of assumptions for valuing units issued	The LTIP units issued under the 2011 Plan were valued using the Monte Carlo lattice binomial option-pricing model at the grant date. The fair value of the LTIP units are based on Level 3 inputs and are non-recurring fair value measurements. The table below sets forth the assumptions used in valuing such LTIP units for the years ended December 31, 2016 and December 31, 2015 . LTIP Units Assumptions Grant date February 22, 2016 January 8, 2016 January 6, 2016 May 4, 2015 January 12, 2015 October 27, 2014 July 1, 2014 January 2, 2014 Expected term (years) 10 10 10 10 10 10 10 10 Expected volatility 22.0 % 22.0 % 22.0 % 20.0 % 20.0 % 20 % 40 % 40 % Expected dividend yield 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Risk-free interest rate 1.01 % 1.28 % 1.36 % 0.66 % 0.62 % 0.48 % 0.79 % 0.79 % Fair value of LTIP units at issuance (in thousands) $ 277 $ 2,254 $ 390 $ 2,038 $ 5,450 $ 690 $ 1,542 $ 4,329 LTIP units at issuance 18,386 135,546 22,464 100,000 223,069 30,602 66,956 224,424 Fair value unit price per LTIP unit at issuance $ 15.07 $ 16.63 $ 17.36 $ 20.38 $ 24.43 $ 22.56 $ 23.03 $ 19.29
Schedule of activity related to share-based compensation	The following table summarizes activity related to the Company’s unvested LTIP units for the years ended December 31, 2016 and December 31, 2015 . Unvested LTIP Units LTIP Units Balance at December 31, 2014 448,887 Granted 323,069 Vested (237,046 ) Forfeited — Balance at December 31, 2015 534,910 Granted 176,396 Vested (307,883 ) Forfeited — Balance at December 31, 2016 403,423 The following table summarizes the fair value at vesting date for the LTIP units vested during years ended December 31, 2016 , December 31, 2015 , and December 31, 2014 . Year ended December 31, 2016 2015 2014 Vested LTIP units 307,883 237,046 639,445 Fair value of vested LTIP units (in thousands) $ 6,393 $ 4,853 $ 14,063

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Equity Compensation Expense	Year ended December 31, Non-cash compensation expense (in thousands) 2016 2015 2014 Restricted stock $ 2,157 $ 1,932 $ 1,164 LTIP units 6,089 (1) 4,774 5,353 (2) Outperformance programs 465 523 456 (3) Performance units 672 — — Board of directors compensation (4) 346 349 341 Total non-cash compensation expense $ 9,729 $ 7,578 $ 7,314 (1) Inclusive of approximately $1.6 million of non-cash compensation expense during the year ended December 31, 2016 associated with the severance cost of an executive officer as discussed Note 7. (2) Inclusive of approximately $2.0 million of non-cash compensation during the year ended December 31, 2014 associated with the accounting for a consulting agreement with a former executive officer discussed in Note 7. Inclusive of approximately $0.9 million of non-cash compensation during the year ended December 31, 2014 associated with the accounting for a former executive officer's acceleration of LTIP units discussed in Note 7. (3) Inclusive of approximately $0.2 million of non-cash compensation during the year ended December 31, 2014 associated with the accounting for a consulting agreement with a former executive officer discussed in Note 7. (4) All of the Company’s independent directors elected to receive shares of common stock in lieu of cash for their service during the years ended December 31, 2016 , December 31, 2015 , and December 31, 2014 . The number of shares of common stock granted is calculated based on the trailing 10 days average common stock price ending on the third business day preceding the grant date.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per common share	The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 . Year ended December 31, Earnings Per Share (in thousands, except share data) 2016 2015 2014 Numerator Net income (loss) $ 35,588 $ (29,345 ) $ (4,685 ) Less: preferred stock dividends 13,897 10,848 10,848 Less: amount allocated to participating securities 384 385 345 Less: income (loss) attributable to noncontrolling interest after preferred stock dividends 1,069 (1,962 ) (992 ) Net income (loss) attributable to common stockholders $ 20,238 $ (38,616 ) $ (14,886 ) Denominator Weighted average common shares outstanding — basic 70,637,185 66,307,972 54,086,345 Weighted average common shares outstanding — diluted 70,852,548 66,307,972 54,086,345 Net income (loss) per share — basic and diluted Net income (loss) per share attributable to common stockholders — basic $ 0.29 $ (0.58 ) $ (0.28 ) Net income (loss) per share attributable to common stockholders — diluted $ 0.29 $ (0.58 ) $ (0.28 )

Future Minimum Rents (Tables)

Future Minimum Rents (Tables)	12 Months Ended
	Dec. 31, 2016
Leases, Operating [Abstract]
Schedule of minimum lease payments receivable	Minimum contractual lease payments receivable, excluding tenant reimbursement of expenses, under non-cancelable operating leases in effect as of December 31, 2016 are approximately as follows. Year Future Minimum Rents (in thousands) 2017 $ 223,309 2018 $ 187,615 2019 $ 149,273 2020 $ 120,461 2021 $ 87,797 Thereafter $ 301,177 Future minimum rental payments under the terms of the fixed non-cancelable ground leases and operating leases, including any bargain renewal terms, under which the Company is the lessee as of December 31, 2016 are as follows. Year Future Minimum Rental Payments (1) (in thousands) 2017 $ 1,427 2018 $ 1,539 2019 $ 1,577 2020 $ 1,588 2021 $ 681 Thereafter $ 6,336 (1) Future minimum rental payments do not include estimates of CPI rent changes required by certain lease agreements. Therefore, actual minimum rental payments may differ than those presented.

Commitments and Contingencies C

Commitments and Contingencies Commitment and Contingencies - (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of minimum lease payments receivable	Minimum contractual lease payments receivable, excluding tenant reimbursement of expenses, under non-cancelable operating leases in effect as of December 31, 2016 are approximately as follows. Year Future Minimum Rents (in thousands) 2017 $ 223,309 2018 $ 187,615 2019 $ 149,273 2020 $ 120,461 2021 $ 87,797 Thereafter $ 301,177 Future minimum rental payments under the terms of the fixed non-cancelable ground leases and operating leases, including any bargain renewal terms, under which the Company is the lessee as of December 31, 2016 are as follows. Year Future Minimum Rental Payments (1) (in thousands) 2017 $ 1,427 2018 $ 1,539 2019 $ 1,577 2020 $ 1,588 2021 $ 681 Thereafter $ 6,336 (1) Future minimum rental payments do not include estimates of CPI rent changes required by certain lease agreements. Therefore, actual minimum rental payments may differ than those presented.

Organization and Description 35

Organization and Description of Business (Details) ft² in Millions	12 Months Ended
	Dec. 31, 2016ft²tenantstatebuilding	Dec. 31, 2015
Real Estate Properties [Line Items]
Ownership interest in Operating Partnership (as a percent)	95.70%	95.10%
Number of properties	314
Number of states in which the entity owned buildings | state	37
Area (in square feet) | ft²	60.9
Percentage of buildings leased to tenants	94.70%
Number of tenants | tenant	275
Warehouse - Distribution buildings
Real Estate Properties [Line Items]
Number of properties	243
Light Manufacturing buildings
Real Estate Properties [Line Items]
Number of properties	54
Office/Flex buildings
Real Estate Properties [Line Items]
Number of properties	16
Redevelopment Property
Real Estate Properties [Line Items]
Number of properties	1

Summary of Significant Accoun36

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Effects of Revision (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Building and improvements, net of accumulated depreciation	$ 1,550,141	$ 1,334,776
Total assets	2,186,156	1,901,782	$ 1,623,802
Total equity	1,066,926	857,857	891,878	$ 674,564
Depreciation and amortization	125,444	110,421	87,703
Total expenses	230,304	216,875	155,520
Net loss	35,588	(29,345)	(4,685)
Net loss attributable to STAG Industrial, Inc.	34,519	(27,383)	(3,693)
Net loss attributable to common stockholders	20,238	$ (38,616)	$ (14,886)
Loss per share attributable to common stockholders — basic and diluted (in dollars per share)		$ (580)	$ (280)
Comprehensive loss	$ 36,486	$ (31,301)	$ (8,882)
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Building and improvements, net of accumulated depreciation		1,332,298
Total assets		1,899,304	1,623,448
Total equity		855,379	891,524
Depreciation and amortization		112,545	88,057
Total expenses		218,999	155,874
Net loss		(31,469)	(5,039)
Net loss attributable to STAG Industrial, Inc.		(29,403)	(4,025)
Net loss attributable to common stockholders		$ (40,636)	$ (15,218)
Loss per share attributable to common stockholders — basic and diluted (in dollars per share)		$ (610)	$ (280)
Comprehensive loss		$ (33,425)	$ (9,236)
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Building and improvements, net of accumulated depreciation		2,478
Total assets		2,478	354
Total equity		2,478	354
Depreciation and amortization		(2,124)	(354)
Total expenses		(2,124)	(354)
Net loss		2,124	354
Net loss attributable to STAG Industrial, Inc.		2,020	332
Net loss attributable to common stockholders		$ 2,020	$ 332
Loss per share attributable to common stockholders — basic and diluted (in dollars per share)		$ 30	$ 0
Comprehensive loss		$ 2,124	$ 354

Summary of Significant Accoun37

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - New Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net Cash Provided by (Used in) Financing Activities	$ 211,870	$ 238,464	$ 342,225
Net income (loss)	35,588	(29,345)	(4,685)
Net Cash Provided by (Used in) Operating Activities	135,423	121,707	$ 96,676
Debt Issuance Costs, Net	6,299	6,900
Prepaid Expenses and Other Assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Issuance Costs, Net	2,300	3,000
ASU 2015-03 | Secured Debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Issuance Costs, Net		1,270
ASU 2015-03 | Loans Payable [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Issuance Costs, Net		3,382
ASU 2015-03 | Notes Payable [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Issuance Costs, Net		2,280
ASU 2015-03 | Prepaid Expenses and Other Assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Issuance Costs, Net		$ (6,932)
New Accounting Pronouncement, Early Adoption, Effect [Member] | Accounting Standards Update 2016-15 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net Cash Provided by (Used in) Financing Activities	1,973
Net Cash Provided by (Used in) Operating Activities	$ 1,973

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Real Estate and Deferred Lease Intangibles (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)
Rental Property and Depreciation
Number of operating segments | segment	1
Write-off of tenant improvements	$ 2,585	$ 1,205
Write-off of deferred leasing intangible assets	17,900	10,300
Write-off of deferred leasing intangible liabilities	$ 0	$ 800
Building
Rental Property and Depreciation
Useful life	40 years
Building and land improvements | Maximum
Rental Property and Depreciation
Useful life	20 years

Summary of Significant Accoun39

Summary of Significant Accounting Policies - Tenant Accounts Receivable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 21, 2016	Dec. 31, 2015
Tenant Accounts Receivable, net
Lease security deposits available in existing letters of credit	$ 9		$ 6.1
Cash and Cash Equivalents
Tenant Accounts Receivable, net
Security deposit	5.4		4.1
Restricted Cash
Tenant Accounts Receivable, net
Security deposit	0.4		0.4
Security Deposits
Tenant Accounts Receivable, net
Lease security deposits available in cash	5.8		4.5
Accrued Income Receivable [Member]
Tenant Accounts Receivable, net
Allowance for doubtful accounts	0.2		0.1
Accrued Rental Income
Tenant Accounts Receivable, net
Allowance for doubtful accounts	0		0
Accrued rental revenue	18.4		$ 16.1
Golden, CO, Q1 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Lease Termination Fee Receivable		$ 0.9
Rental income | Golden, CO, Q1 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain (Loss) on Contract Termination	$ 0.1

Summary of Significant Accoun40

Summary of Significant Accounting Policies - Goodwill (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Goodwill [Line Items]
Goodwill impairment loss	$ 0
Prepaid Expenses and Other Assets
Goodwill [Line Items]
Goodwill	$ 4,900,000

Summary of Significant Accoun41

Summary of Significant Accounting Policies - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Dividends, Common Stock [Abstract]
Ordinary income (in dollars per share)											$ 0.944038	$ 0.777244	$ 0.8432
Return of capital (in dollars per share)											0.445125	0.582756	0.4368
Total (in dollars per share)											$ 1.38916	$ 1.360000	$ 1.2800
Ordinary income (as a percent)											68.00%	57.20%	65.90%
Return of capital (as a percent)											32.00%	42.80%	34.10%
Tax Year 2015
Dividends, Common Stock [Abstract]
Dividend declared (in dollars per share)										$ 0.11
Tax Year 2016
Dividends, Common Stock [Abstract]
Dividend declared (in dollars per share)									$ 0.115
Tax Year 2017 [Member]
Dividends, Common Stock [Abstract]
Dividend declared (in dollars per share)											$ 0.116
Series A Preferred Stock
Dividends, Preferred Stock [Abstract]
Series A Preferred stock dividends paid											$ 5.2	$ 6.2	$ 6.2
Dividend paid on preferred stock (in dollars per share)	$ 0.19375	$ 0.56250	$ 0.56250	$ 0.56250	$ 0.5625	$ 0.5625	$ 0.5625	$ 0.5625			$ 1.88125	$ 2.2500	$ 2.25
Series B Preferred Stock
Dividends, Preferred Stock [Abstract]
Series A Preferred stock dividends paid											$ 4.6	$ 4.6	$ 4.6
Dividend paid on preferred stock (in dollars per share)	0.4140625	0.4140625	0.4140625	0.4140625	$ 0.4140625	$ 0.4140625	$ 0.4140625	$ 0.4140625			$ 1.6562500	$ 1.6562500	$ 1.656250
Series C Preferred Stock [Member]
Dividends, Preferred Stock [Abstract]
Series A Preferred stock dividends paid											$ 4.1
Dividend paid on preferred stock (in dollars per share)	$ 0.4296875	$ 0.4296875	$ 0.4965300	$ 0							$ 1.3559050

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Revenue Recognition (Details) $ in Millions	May 18, 2015ft²	Dec. 17, 2014USD ($)ft²	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Oct. 20, 2015USD ($)	Oct. 19, 2015USD ($)	Oct. 29, 2014USD ($)
Revenue Recognition
Estimated amount of real estate taxes, which are the responsibility of tenants			$ 10.9	$ 10.2	$ 10.2
Dayton, OH, Q4 2007
Revenue Recognition
Lease Termination Fee Receivable						$ 0.2
Dayton, OH, Q4 2007 | Rental income
Revenue Recognition
Gain (Loss) on Contract Termination			$ 0.2	0.1
Southfield, MI, Q2 2013
Revenue Recognition
Lease Termination Fee Receivable							$ 0.9
Belfast, ME, Q4 2008
Revenue Recognition
Area (in square feet) | ft²		90,051
Square feet terminated under amendment effective November 30, 2015 | ft²	193,633	228,928
Lease Termination Fee Receivable		$ 2.1
Operating Leases of Lessor, Lease Area, Accelerated Early Termination | ft²	35,295
Belfast, ME, Q4 2008 | Rental income
Revenue Recognition
Gain (Loss) on Contract Termination				$ 2	$ 0.1
Tavares, FL, Q2 2011
Revenue Recognition
Lease Termination Fee Receivable								$ 2.4

Summary of Significant Accoun43

Summary of Significant Accounting Policies - Taxes (Details)	Aug. 25, 2015parcel	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Net income (loss)		$ 35,588,000	$ (29,345,000)	$ (4,685,000)
Reconciliation of net loss to taxable income
Net income (loss)		35,588,000	(29,345,000)	(4,685,000)
Book/Tax differences from depreciation and amortization		66,763,000	60,959,000	49,672,000
Above/Below market lease amortization		6,213,000	8,526,000	6,253,000
Loss on Impairments		16,845,000	29,272,000	2,840,000
Formation transaction costs		678,000	(1,815,000)	1,994,000
Book/Tax difference on property acquisition costs		4,498,000	4,400,000	4,279,000
Loss on extinguishment of debt		(17,000)	0	686,000
Accrued bonus payment		1,170,000	(337,000)	941,000
Book/Tax difference on bad debt expense		83,000	2,000	104,000
Book/Tax difference on non-cash compensation		7,188,000	4,662,000	4,706,000
Book/Tax difference on gain on sale of real estate		(53,580,000)	(10,653,000)	(4,695,000)
Straight-line rent adjustments, net		(2,495,000)	(3,405,000)	(3,255,000)
Book/Tax difference on non-cash portion of interest expense		1,631,000	1,266,000	979,000
Book/tax difference on prepaid rent of Sec. 467 leases		(274,000)	1,887,000	0
Other book/tax differences, net		284,000	180,000	78,000
Loss attributable to noncontrolling interest		(4,069,000)	(3,011,000)	(3,414,000)
Taxable income subject to distribution requirement		$ 80,506,000	$ 62,588,000	$ 56,483,000
Distribution of taxable income (as a percent), in excess of		100.00%	100.00%	100.00%
State and local income, excise and franchise taxes		$ 1,000,000	$ 900,000	$ 600,000
Liabilities for uncertain tax positions		$ 0	0	$ 0
Segment Reporting
Number of reportable segments | segment		1
Number of operating segments | segment		1
Libertyville, IL, Q3 2015
Business Acquisition [Line Items]
Number of vacant land parcels acquired | parcel	2
Taxable Real Estate Investment Trust Subsidy [Member]
Business Acquisition [Line Items]
Net income (loss)		$ (100,000)	(25,000)
Reconciliation of net loss to taxable income
Net income (loss)		$ (100,000)	$ (25,000)

Rental Property - Summary (Deta

Rental Property - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	$ 2,116,836	$ 1,839,967
Deferred leasing intangibles assets, accumulated amortization	(237,456)	(200,758)
Land
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	272,162	228,919
Building
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	1,408,406	1,234,838
Rental property, accumulated depreciation	125,971	101,819
Tenant improvements
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	24,974	23,586
Rental property, accumulated depreciation	28,388	26,283
Building and land improvements
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	107,463	74,694
Rental property, accumulated depreciation	33,054	19,815
Construction in Progress [Member]
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	9,298	1,658
Deferred leasing intangibles
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	$ 294,533	$ 276,272

Rental Property - Acquisitions

Rental Property - Acquisitions (Details) $ in Thousands	Dec. 11, 2015USD ($)	Jan. 22, 2015USD ($)	Dec. 31, 2016USD ($)ft²building	Sep. 30, 2016USD ($)ft²building	Jun. 30, 2016USD ($)ft²abuilding	Mar. 31, 2016USD ($)ft²abuilding	Dec. 31, 2015USD ($)ft²building	Sep. 30, 2015USD ($)ft²building	Jun. 30, 2015USD ($)ft²building	Mar. 31, 2015USD ($)ft²building	Dec. 31, 2016USD ($)ft²building	Dec. 31, 2015USD ($)ft²building
Business Acquisition [Line Items]
Area (in square feet) | ft²			60,900,000								60,900,000
Acquisitions 2,016
Business Acquisition [Line Items]
Area (in square feet) | ft²			10,302,665								10,302,665
Number of buildings acquired | building											47
Purchase price | $											$ 471,798
Acquisitions Q1 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | a						710,754
Number of buildings acquired | building						5
Purchase price | $						$ 27,882
Fairfield, OH, Q1 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²						206,448
Number of buildings acquired | building						1
Purchase price | $						$ 5,330
Mascot, TN, Q1 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²						130,560
Number of buildings acquired | building						1
Purchase price | $						$ 4,500
Erlanger, KY, Q1 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²						108,620
Number of buildings acquired | building						1
Purchase price | $						$ 5,600
Biddeford, ME, Q1 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²						265,126
Number of buildings acquired | building						2
Purchase price | $						$ 12,452
Acquisitions Q2 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | a					1,389,639
Number of buildings acquired | building					5
Purchase price | $					$ 58,203
Reading, PA, Q2 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					248,000
Number of buildings acquired | building					1
Purchase price | $					$ 9,594
Charlotte, NC, Q2 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					104,852
Number of buildings acquired | building					1
Purchase price | $					$ 6,517
West Chicago, IL, Q2 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					249,470
Number of buildings acquired | building					1
Purchase price | $					$ 8,663
Visalia, CA Q2 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					635,281
Number of buildings acquired | building					1
Purchase price | $					$ 27,921
Norcross, GA, Q2 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					152,036
Number of buildings acquired | building					1
Purchase price | $					$ 5,508
Acquisitions Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				3,696,094
Number of buildings acquired | building				13
Purchase price | $				$ 166,000
Columbia, SC, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				185,600
Number of buildings acquired | building				1
Purchase price | $				$ 7,300
Graniteville, SC, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				450,000
Number of buildings acquired | building				1
Purchase price | $				$ 15,675
Fountain Inn, SC, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				168,087
Number of buildings acquired | building				1
Purchase price | $				$ 7,025
Langhorne, PA, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				217,000
Number of buildings acquired | building				2
Purchase price | $				$ 11,250
Warren, MI, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				268,000
Number of buildings acquired | building				1
Purchase price | $				$ 18,700
New Castle, DE, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				485,987
Number of buildings acquired | building				1
Purchase price | $				$ 27,500
Westborough, MA, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				121,700
Number of buildings acquired | building				1
Purchase price | $				$ 7,885
Cedar Hill, TX, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				420,000
Number of buildings acquired | building				1
Purchase price | $				$ 19,100
Forest Park, GA, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				799,200
Number of buildings acquired | building				2
Purchase price | $				$ 24,915
Rock Hill, SC, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				315,520
Number of buildings acquired | building				1
Purchase price | $				$ 9,850
Gardiner, ME, Q3 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				265,000
Number of buildings acquired | building				1
Purchase price | $				$ 16,800
Acquisitions Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			4,506,178								4,506,178
Number of buildings acquired | building			24
Purchase price | $			$ 219,713
Langhorne, PA, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			172,647								172,647
Number of buildings acquired | building			1
Purchase price | $			$ 9,500
Grove City, OH, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			175,512								175,512
Number of buildings acquired | building			1
Purchase price | $			$ 5,400
Olathe, KS, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			496,373								496,373
Number of buildings acquired | building			1
Purchase price | $			$ 23,194
Houston, TX, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			223,599								223,599
Number of buildings acquired | building			1
Purchase price | $			$ 13,444
Itasca, IL, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			202,000								202,000
Number of buildings acquired | building			1
Purchase price | $			$ 20,641
Kenosha, WI, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			175,052								175,052
Number of buildings acquired | building			1
Purchase price | $			$ 5,975
Oklahoma City, OK, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			80,400								80,400
Number of buildings acquired | building			1
Purchase price | $			$ 3,400
San Antonio, TX, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			247,861								247,861
Number of buildings acquired | building			1
Purchase price | $			$ 12,050
Wood Dale, IL, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			137,607								137,607
Number of buildings acquired | building			1
Purchase price | $			$ 8,565
Hartland, WI, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			121,050								121,050
Number of buildings acquired | building			1
Purchase price | $			$ 7,400
Earth City, MO, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			116,783								116,783
Number of buildings acquired | building			1
Purchase price | $			$ 5,450
Spartanburg, SC, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			572,038								572,038
Number of buildings acquired | building			1
Purchase price | $			$ 20,762
West Columbia, SC, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			119,852								119,852
Number of buildings acquired | building			1
Purchase price | $			$ 5,725
West Chicago, IL, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			305,874								305,874
Number of buildings acquired | building			5
Purchase price | $			$ 10,400
Deforest, WI, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			254,431								254,431
Number of buildings acquired | building			1
Purchase price | $			$ 7,800
Montgomery, AL, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			332,000								332,000
Number of buildings acquired | building			1
Purchase price | $			$ 8,750
West Chester, OH, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			269,868								269,868
Number of buildings acquired | building			1
Purchase price | $			$ 11,150
West Columbia2, SC, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			176,400								176,400
Number of buildings acquired | building			1
Purchase price | $			$ 11,850
Brooklyn Park, MN, Q4 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			200,720								200,720
Number of buildings acquired | building			1
Purchase price | $			$ 20,532
East Windsor, Q4, 2016 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			126,111								126,111
Number of buildings acquired | building			1
Purchase price | $			$ 7,725
2015 Acquisitions
Business Acquisition [Line Items]
Area (in square feet) | ft²							8,691,852					8,691,852
Number of buildings acquired | building												49
Purchase price | $												$ 427,263
Acquisitions Q1 2015 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²										1,485,717
Number of buildings acquired | building										5
Purchase price | $										$ 97,083
Burlington, NJ, Q1 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²										503,490
Number of buildings acquired | building										1
Purchase price | $		$ 34,900								$ 34,883
Greenville, SC, Q1 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²										157,500
Number of buildings acquired | building										1
Purchase price | $										$ 4,800
North Haven, CT, Q1 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²										824,727
Number of buildings acquired | building										3
Purchase price | $										$ 57,400
Acquisitions Q2 2015 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²									1,639,383
Number of buildings acquired | building									12
Purchase price | $									$ 83,808
Plymouth, MI, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									125,214
Number of buildings acquired | building									1
Purchase price | $									$ 6,000
Oakwood Village, OH, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									75,000
Number of buildings acquired | building									1
Purchase price | $									$ 4,398
Stoughton, MA, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									250,213
Number of buildings acquired | building									2
Purchase price | $									$ 10,675
Oklahoma City, OK, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									223,340
Number of buildings acquired | building									1
Purchase price | $									$ 12,135
Clinton, TN, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									166,000
Number of buildings acquired | building									1
Purchase price | $									$ 5,000
Knoxville, TN, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									108,400
Number of buildings acquired | building									1
Purchase price | $									$ 4,750
Fairborn, OH, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									258,680
Number of buildings acquired | building									1
Purchase price | $									$ 9,100
El Paso, TX, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									126,456
Number of buildings acquired | building									1
Purchase price | $									$ 9,700
Phoenix, AZ, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									102,747
Number of buildings acquired | building									1
Purchase price | $									$ 9,500
Charlotte, NC, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									123,333
Number of buildings acquired | building									1
Purchase price | $									$ 7,500
Machesney Park, IL, Q2 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²									80,000
Number of buildings acquired | building									1
Purchase price | $									$ 5,050
Acquisitions Q3 2015 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²								2,509,084
Number of buildings acquired | building								18
Purchase price | $								$ 108,286
Macedonia, OH, Q3 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²								201,519
Number of buildings acquired | building								1
Purchase price | $								$ 12,192
Novi, MI, Q3 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²								125,060
Number of buildings acquired | building								1
Purchase price | $								$ 8,716
Grand Junction, CO, Q3 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²								82,800
Number of buildings acquired | building								1
Purchase price | $								$ 5,254
Tulsa, OK, Q3 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²								175,000
Number of buildings acquired | building								1
Purchase price | $								$ 13,000
Chattanooga, TN, Q3 2015 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²								646,200
Number of buildings acquired | building								3
Purchase price | $								$ 21,160
Libertyville, IL, Q3 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²								287,102
Number of buildings acquired | building								2
Purchase price | $								$ 11,121
Greer, SC, Q3 2015 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²								290,000
Number of buildings acquired | building								4
Purchase price | $								$ 9,025
Piedmont, SC, Q3 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²								400,000
Number of buildings acquired | building								3
Purchase price | $								$ 12,000
Belvidere, IL, Q3 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²								100,000
Number of buildings acquired | building								1
Purchase price | $								$ 5,938
Conyers, GA, Q3 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²								201,403
Number of buildings acquired | building								1
Purchase price | $								$ 9,880
Acquisitions Q4 2015 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²							3,057,668					3,057,668
Number of buildings acquired | building							14
Purchase price | $							$ 138,086
Durham, NC, Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							80,600					80,600
Number of buildings acquired | building							1
Purchase price | $							$ 4,200
Charlotte, NC, Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							124,680					124,680
Number of buildings acquired | building							1
Purchase price | $							$ 5,423
Shreveport, LA, Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							420,259					420,259
Number of buildings acquired | building							1
Purchase price | $							$ 11,000
Dayton, OH, Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							205,761					205,761
Number of buildings acquired | building							1
Purchase price | $							$ 8,803
West Allis, WI, Q4 2015 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²							241,977					241,977
Number of buildings acquired | building							4
Purchase price | $							$ 9,900
Loudon, TN, Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							104,000					104,000
Number of buildings acquired | building							1
Purchase price | $							$ 5,375
Garland, TX Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							164,914					164,914
Number of buildings acquired | building							1
Purchase price | $							$ 7,600
Laurens, SC, Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							125,000					125,000
Number of buildings acquired | building							1
Purchase price | $	$ 5,500						$ 5,535
Lancaster, PA, Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							240,529					240,529
Number of buildings acquired | building							1
Purchase price | $							$ 9,350
Grand Rapids, MI, Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							301,317					301,317
Number of buildings acquired | building							1
Purchase price | $							$ 9,400
Burlington, NJ, Q4 2015
Business Acquisition [Line Items]
Area (in square feet) | ft²							1,048,631					1,048,631
Number of buildings acquired | building							1
Purchase price | $							$ 61,500

Rental Property - Acquisition46

Rental Property - Acquisitions - Allocation of Consideration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
In-place leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ 62,533	$ 58,109
Acquisitions 2,016
Allocation of the consideration paid for the acquired assets and liabilities
Land	59,630
Buildings	283,758
Tenant improvements	8,670
Building and land Improvements	29,073
Below market leases	$ (12,971)
Acquired Below Market Leases, Weighted Average Useful Life	8 years 5 months 18 days
Above market assumed debt adjustment	$ (75)
Other assets	158
Total purchase price	471,798
Less: Mortgage notes assumed	(4,037)
Less: Contingent consideration	0
Net assets acquired	$ 467,761
Weighted average amortization period of above market debt adjustment	7 years 2 months
Acquisitions 2016 | In-place leases
Allocation of the consideration paid for the acquired assets and liabilities
Weighted average amortization period of lease intangibles	8 years 2 months 18 days
Acquisitions 2016 | Tenant relationships
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ 30,446
Weighted average amortization period of lease intangibles	10 years 4 months 18 days
Acquisitions 2016 | Above market leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ 10,576
Weighted average amortization period of lease intangibles	9 years 2 months
2015 Acquisitions
Allocation of the consideration paid for the acquired assets and liabilities
Land		45,117
Buildings		256,970
Tenant improvements		7,705
Building and land Improvements		20,712
Below market leases		$ (4,022)
Acquired Below Market Leases, Weighted Average Useful Life		5 years 2 months 12 days
Above market assumed debt adjustment		$ (418)
Other assets		565
Total purchase price		427,263
Less: Mortgage notes assumed		(26,267)
Less: Contingent consideration		(300)
Net assets acquired		$ 400,696
Weighted average amortization period of above market debt adjustment		1 year 4 months 18 days
2015 Acquisitions | In-place leases
Allocation of the consideration paid for the acquired assets and liabilities
Weighted average amortization period of lease intangibles		5 years 6 months 20 days
2015 Acquisitions | Tenant relationships
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles		$ 31,390
Weighted average amortization period of lease intangibles		8 years
2015 Acquisitions | Above market leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles		$ 11,135
Weighted average amortization period of lease intangibles		7 years 3 months 18 days

Rental Property - Narrative (De

Rental Property - Narrative (Details) - USD ($) $ in Thousands

Sep. 29, 2016

Dec. 11, 2015

Sep. 29, 2015

Jun. 25, 2015

Jan. 22, 2015

Sep. 30, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Business Acquisition [Line Items]

Property acquisition costs

$ 4,567

$ 4,757

$ 4,390

2015 Acquisitions

Business Acquisition [Line Items]

Revenue

17,879

Fair value of incentive fee

$ 300

300

Purchase price

427,263

Property acquisition costs

4,382

Net income (loss)

$ (3,052)

Rock Hill, SC, Q3 2016 [Member]

Business Acquisition [Line Items]

Purchase price

$ 9,850

Mortgage note assumed

$ 4,000

Burlington, NJ, Q1 2015

Business Acquisition [Line Items]

Purchase price

$ 34,900

$ 34,883

Other common units issued for property acquisition (in units)

812,676

Other common units issued for property acquisition, fair value

$ 21,900

Purchase price paid in cash

1,200

Mortgage note assumed

$ 11,800

Laurens, SC, Q4 2015

Business Acquisition [Line Items]

Purchase price

$ 5,500

$ 5,535

Other common units issued for property acquisition (in units)

51,607

Other common units issued for property acquisition, fair value

$ 1,000

Purchase price paid in cash

600

Mortgage note assumed

$ 3,900

Charlotte, NC, Q2 2015

Business Acquisition [Line Items]

Purchase price

$ 7,500

Mortgage note assumed

$ 4,900

Conyers, GA, Q3 2015

Business Acquisition [Line Items]

Purchase price

$ 9,880

Mortgage note assumed

$ 5,700

Other Common Units | Burlington, NJ, Q1 2015

Business Acquisition [Line Items]

Other common units issued for property acquisition (in units)

812,676

Other common units issued for property acquisition, fair value

$ 21,900

Other Common Units | Laurens, SC, Q4 2015

Business Acquisition [Line Items]

Other common units issued for property acquisition (in units)

51,607

Other common units issued for property acquisition, fair value

$ 1,000

Rental Property - Acquisition48

Rental Property - Acquisitions - Pro Forma (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Property acquisition costs	$ 4,567	$ 4,757	$ 4,390
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Property acquisition costs	4,386	4,400
Acquisitions 2,016
Business Acquisition [Line Items]
Revenue	13,105
Property acquisition costs	4,386
Net income (loss)	(3,560)
Pro forma information
Total revenue	277,811	282,235
Net loss (2)	46,139	(42,617)
Net loss attributable to common stockholders	$ (30,269)	(53,850)
2015 Acquisitions
Business Acquisition [Line Items]
Revenue		17,879
Property acquisition costs		4,382
Net income (loss)		$ (3,052)

Rental Property - Disposals (De

Rental Property - Disposals (Details) $ in Thousands, ft² in Millions	12 Months Ended
	Dec. 31, 2016USD ($)ft²building	Dec. 31, 2015USD ($)ft²building	Dec. 31, 2014USD ($)ft²building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area (in square feet) | ft²	60.9
Carrying value of property sold	$ 2,116,836	$ 1,839,967
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area (in square feet) | ft²	4.2	0.8	0.4
Number of buildings disposed | building	24	6	4
Carrying value of property sold	$ 90,300	$ 17,200	$ 10,200
Net proceeds from sales of rental property	152,079	22,163	12,980
Gain (Loss) on Sale	61,823	4,986	2,799
Contribution to revenue	11,200	2,000	1,200
Net income (loss) before gain on sale of rental property	$ 1,300	$ 800	$ 200

Rental Property - Loss on Impai

Rental Property - Loss on Impairments (Details)	3 Months Ended					12 Months Ended
	Dec. 31, 2016USD ($)Rate	Jun. 30, 2016USD ($)Rate	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2014USD ($)	Oct. 29, 2014USD ($)
2016 Impairments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment						$ 16,845,000
2016 Impairments [Member] | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value	$ 14,958,000					14,958,000
Q2 2016 Impairments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment		$ 11,231,000
Q2 2016 Impairments [Member] | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value		$ 10,598,000
Q2 2016 Impairments [Member] | Level 3 Inputs | Income Approach Valuation Technique | Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate at which cash flows are discounted (as a percent) | Rate		8.50%
Fair value inputs, exit capitalization rate (as a percent) | Rate		8.50%
Q2 2016 Impairments [Member] | Level 3 Inputs | Income Approach Valuation Technique | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate at which cash flows are discounted (as a percent) | Rate		13.00%
Fair value inputs, exit capitalization rate (as a percent) | Rate		12.00%
stag_FairfieldVAQ32007 [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired		1
stag_FairfieldVAQ32007 [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Tavares, FL, Q2 2011 | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment							$ 2,800,000
Termination fee payable by tenant								$ 2,400,000
Fair value of impaired property							$ 2,500,000
stag_JacksonMSOne [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired		1
stag_JacksonMSOne [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
stag_JacksonMSTwo [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired		1
stag_JacksonMSTwo [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
stag_MishawakaINQ22013 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired		1
stag_MishawakaINQ22013 [Member] | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Newark, DE, Q4 2007, Two
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired		1
Newark, DE, Q4 2007, Two | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Seville, OH, Q4 2007
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired		2
Seville, OH, Q4 2007 | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
stag_SparksMDQ42007 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired		2
stag_SparksMDQ42007 [Member] | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Q4 2016 Impairments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment	5,614,000
Q4 2016 Impairments [Member] | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value	$ 4,360,000					4,360,000
Q4 2016 Impairments [Member] | Level 3 Inputs | Income Approach Valuation Technique | Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value inputs, exit capitalization rate (as a percent) | Rate	10.00%
Q4 2016 Impairments [Member] | Level 3 Inputs | Income Approach Valuation Technique | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate at which cash flows are discounted (as a percent) | Rate	12.00%
Fair value inputs, exit capitalization rate (as a percent) | Rate	12.00%
Boardman, OH, Q4 2007, Two
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired	1
Boardman, OH, Q4 2007, Two | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Holland, MI, Q4 2007
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired	1
Holland, MI, Q4 2007 | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Pensacola, FL, Q4 2007, One
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired	1
Pensacola, FL, Q4 2007, One | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
2015 Impairments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment		$ 29,272,000
2015 Impairments | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value			$ 33,153,000
Q2 2015 Impairment | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value					$ 4,400,000
Loss on impairment					2,645,000
St. Louis, MO, Q3 2011 | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired					1
St. Louis, MO, Q3 2011 | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Q3 2015 Impairments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment				$ 5,733,000
Q3 2015 Impairments | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value				6,515,000
Jefferson, NC, Q2 2011 | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired				1
Jefferson, NC, Q2 2011 | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Milwaukee, WI, Q2 2011 | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired				1
Milwaukee, WI, Q2 2011 | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Q4 2015 Impairments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment			20,894,000
Q4 2015 Impairments | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value			22,238,000
Q4 2015 Impairments | Level 3 Inputs | Income Approach Valuation Technique | Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate at which cash flows are discounted (as a percent)		8.50%
Fair value inputs, exit capitalization rate (as a percent)		8.00%
Q4 2015 Impairments | Level 3 Inputs | Income Approach Valuation Technique | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate at which cash flows are discounted (as a percent)		16.00%
Fair value inputs, exit capitalization rate (as a percent)		14.00%
Canton, OH, Q4 2007 | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate at which cash flows are discounted (as a percent)				9.00%
Fair value inputs, exit capitalization rate (as a percent)				12.00%
Canton, OH, Q4 2007 | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired				1
Canton, OH, Q4 2007 | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Canton, OH, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired			1
Canton, OH, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Cincinnati, OH, Q3 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired			1
Cincinnati, OH, Q3 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Dayton, OH, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired			1
Dayton, OH, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Gloversville, NY, Q4 2012, Three | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired			1
Gloversville, NY, Q4 2012, Three | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Jackson, MS, One | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired			1
Jackson, MS, One | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Jackson, MS, Two | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired			1
Jackson, MS, Two | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Rapid City, SD, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired			1
Rapid City, SD, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Sergeant Bluff, IA, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired			1
Sergeant Bluff, IA, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Sparks, MD, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment
Number of Buildings Impaired			2
Sparks, MD, Q4 2007 | Disposal Group, Held-for-sale, Not Discontinued Operations | Level 3 Inputs | Income Approach Valuation Technique
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value
Involuntary Conversion [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss Contingency, Loss in Period						2,800,000
Insurance Settlements Receivable, Current	$ 1,400,000					$ 1,400,000

Rental Property - Deferred Leas

Rental Property - Deferred Leasing Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Above market lease, gross	$ 531,989	$ 477,030
Deferred leasing intangibles assets, accumulated amortization	(237,456)	(200,758)
Above market lease, net	294,533	276,272
Below market lease, gross	30,791	19,923
Below market lease, accumulated amortization	(10,450)	(8,536)
Below market lease, net	20,341	11,387
Net decrease to rental revenue related to above and below market lease amortization	6,213	8,526	$ 6,254
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
Above and Below Market Leases, Amortization Income (Expense), Next 12 months	4,514
2,018	3,383
2,019	2,813
2,020	2,402
2,021	1,288
Above market leases
Finite-Lived Intangible Assets [Line Items]
Above market lease, gross	70,668	69,815
Deferred leasing intangibles assets, accumulated amortization	(32,868)	(31,554)
Above market lease, net	37,800	38,261
Other intangible lease assets
Finite-Lived Intangible Assets [Line Items]
Above market lease, gross	461,321	407,215
Deferred leasing intangibles assets, accumulated amortization	(204,588)	(169,204)
Above market lease, net	256,733	238,011
Amortization expense related to other intangible lease assets	66,291	$ 60,834	$ 50,319
Estimated Net Amortization of In-Place Leases, Leasing Commissions and Tenant Relationships
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	63,474
2,018	50,375
2,019	38,258
2,020	29,681
2,021	$ 20,915

Debt - Summary (Details)

Debt - Summary (Details) - USD ($)	Dec. 29, 2016	Dec. 20, 2016	Dec. 19, 2016	Dec. 16, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 01, 2015	Sep. 29, 2015	Feb. 20, 2015	Dec. 18, 2014	Oct. 24, 2014
Debt Instrument [Line Items]
Principal outstanding					$ 1,036,139,000	$ 980,248,000
Long-term Debt, Gross					1,042,326,000
Unamortized fair market value premium					$ 112,000
Weighted average interest rate					3.75%
Remaining borrowing capacity					$ 418,500,000
Debt Issuance Costs, Net					6,299,000	6,900,000
Amortization of deferred financing fees					1,900,000	1,500,000	$ 1,300,000
Proceeds from unsecured notes					0	220,000,000	180,000,000
Accounts Payable, Accrued Expenses and Other Liabilities [Member]
Debt Instrument [Line Items]
Interest payable					5,700,000	3,800,000
Prepaid Expenses and Other Assets
Debt Instrument [Line Items]
Debt Issuance Costs, Net					2,300,000	$ 3,000,000
Interest Rate Swaps
Debt Instrument [Line Items]
Notional amount					$ 450,000,000							$ 170,000,000
One Month Libor [Member]
Debt Instrument [Line Items]
Variable rate basis reference rate (as a percent)					0.77167%	0.4295%
Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding					$ 446,608,000
Secured Debt
Debt Instrument [Line Items]
Principal outstanding					163,565,000	$ 229,910,000
Long-term Debt, Gross					164,326,000	230,733,000
Unamortized fair market value premium					112,000	447,000
Debt Issuance Costs, Net					873,000	1,270,000
Term Loan [Member] | Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding						296,618,000
Long-term Debt, Gross					450,000,000	300,000,000
Debt Issuance Costs, Net					3,392,000	3,382,000
$150 Million Wells Fargo Unsecured Term Loan A [Member] | Unsecured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross					$ 150,000,000	150,000,000
$150 Million Wells Fargo Unsecured Term Loan A [Member] | Unsecured Debt | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)		1.30%	1.65%		1.30%
$150 Million Wells Fargo Unsecured Term Loan B [Member] | Unsecured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross					$ 150,000,000	150,000,000
Proceeds from unsecured notes				$ 150,000,000
$150 Million Wells Fargo Unsecured Term Loan B [Member] | Unsecured Debt | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)		1.30%	1.70%		1.30%
$150 Million Wells Fargo Unsecured Term Loan C [Member] | Unsecured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross					$ 150,000,000	0
Face amount of debt									$ 150,000,000
Proceeds from unsecured notes	$ 150,000,000
Debt Instrument, Unused Borrowing Capacity, Fee					$ 300,000	26,000
$150 Million Wells Fargo Unsecured Term Loan C [Member] | Unsecured Debt | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)					1.30%
Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding					$ 397,966,000	397,720,000
Long-term Debt, Gross					400,000,000	400,000,000
Debt Issuance Costs, Net					$ 2,034,000	2,280,000
$50 Million Series A Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate					4.98%
Long-term Debt, Gross					$ 50,000,000	50,000,000
$50 Million Series B Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate					4.98%
Long-term Debt, Gross					$ 50,000,000	50,000,000
$80 Million Series C Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding											$ 80,000,000
Stated interest rate					4.42%
Long-term Debt, Gross					$ 80,000,000	80,000,000
$100 Million Series D Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate					4.32%					4.32%
Long-term Debt, Gross					$ 100,000,000	100,000,000
Face amount of debt										$ 100,000,000
$20 Million Series E Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate					4.42%					4.42%
Long-term Debt, Gross					$ 20,000,000	20,000,000
Face amount of debt										$ 20,000,000
$100 Million Series F Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate					3.98%			3.98%
Long-term Debt, Gross					$ 100,000,000	100,000,000
Face amount of debt								$ 100,000,000
Sun Life Assurance Company of Canada (U.S) Due June 1, 2016 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					6.05%
Long-term Debt, Gross					$ 0	3,229,000
Webster Bank, National Association due August 4, 2016 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					4.22%
Long-term Debt, Gross					$ 0	5,513,000
National Life Insurance Company Due August 10, 2016 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					5.75%
Long-term Debt, Gross					$ 0	4,775,000
Union Fidelity Life Insurance Co Due April 30, 2017 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					5.81%
Long-term Debt, Gross					$ 5,384,000	5,754,000
Penalty free prepayment period					2 months
Principal Life Insurance Company Due May 05, 2017 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					5.73%
Long-term Debt, Gross					$ 0	5,676,000
Webster Bank, National Association due May 29, 2017 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					3.66%
Long-term Debt, Gross					$ 2,853,000	2,945,000
Webster Bank, National Association due May 31, 2017 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					3.64%
Long-term Debt, Gross					$ 3,073,000	3,172,000
Wells Fargo, National Association Due August 1, 2017 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					5.90%
Long-term Debt, Gross					$ 4,043,000	4,115,000
Penalty free prepayment period					3 months
Connecticut General Life Insurance Company - Facility 1 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					6.50%
Long-term Debt, Gross					$ 35,320,000	57,171,000
Connecticut General Life Insurance Company - Facility 2 | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					5.75%
Long-term Debt, Gross					$ 36,892,000	58,085,000
Connecticut Genereal Life Insurance Company - Facility 3 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					5.88%
Long-term Debt, Gross					$ 16,141,000	16,401,000
Wells Fargo Bank, National Association CMBS Loan [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					4.31%
Long-term Debt, Gross					$ 56,608,000	63,897,000
Penalty free prepayment period					3 months
Sun Life Assurance Company Of Canada, Webster Bank National Association, and Principal LIfe Insurance Company [Member] | Secured Debt
Debt Instrument [Line Items]
Penalty free prepayment period					3 months
Connecticut General Life Insurance Company Facilities [Member] | Secured Debt
Debt Instrument [Line Items]
Penalty free prepayment period					6 months
Thrivent Financial for Lutherans Due December 15, 2023 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					4.78%
Long-term Debt, Gross					$ 4,012,000	0
Line of Credit [Member] | Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding					28,000,000	56,000,000
Line of Credit [Member] | $450 Million Wells Fargo Unsecured Credit Facility [Member] | Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding					28,000,000	56,000,000
Maximum borrowing capacity					$ 450,000,000				$ 450,000,000
Line of Credit [Member] | $450 Million Wells Fargo Unsecured Credit Facility [Member] | Unsecured Debt | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)					1.15%
Interest Expense [Member] | Line of Credit [Member] | $450 Million Wells Fargo Unsecured Credit Facility [Member] | Unsecured Debt
Debt Instrument [Line Items]
Facility fee					$ 1,000,000	$ 700,000	$ 100,000

Debt - 2016 Activity (Details)

Debt - 2016 Activity (Details)

Dec. 29, 2016USD ($)

Dec. 20, 2016Rate

Dec. 19, 2016Rate

Dec. 08, 2016USD ($)

Nov. 14, 2016USD ($)

Sep. 29, 2016USD ($)

Jun. 22, 2016USD ($)

Apr. 26, 2016USD ($)

Mar. 17, 2016USD ($)

Mar. 03, 2016USD ($)

Dec. 16, 2015USD ($)

Dec. 11, 2015USD ($)

Dec. 01, 2015USD ($)

Sep. 29, 2015USD ($)advance

Jun. 25, 2015USD ($)

Feb. 20, 2015USD ($)

Jan. 22, 2015USD ($)

Dec. 31, 2016USD ($)

Jun. 30, 2016

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Debt Instrument [Line Items]

Assumption of mortgage notes

$ 4,037,000

$ 26,267,000

$ 4,198,000

Proceeds from unsecured notes

0

220,000,000

180,000,000

Debt Issuance Costs, Net

$ 6,299,000

6,299,000

6,900,000

Amortization of deferred financing fees

$ 1,900,000

1,500,000

1,300,000

Unsecured Debt

Debt Instrument [Line Items]

Deferred finance costs

600,000

Unsecured Debt | $150 Million Wells Fargo Unsecured Term Loan A [Member] | LIBOR

Debt Instrument [Line Items]

Interest rate margin (as a percent)

1.30%

1.65%

1.30%

Unsecured Debt | $100 Million Series D Unsecured Notes [Member]

Debt Instrument [Line Items]

Face amount of debt

$ 100,000,000

Stated interest rate

4.32%

4.32%

4.32%

Debt instrument maturity term

10 years

Unsecured Debt | $20 Million Series E Unsecured Notes [Member]

Debt Instrument [Line Items]

Face amount of debt

$ 20,000,000

Stated interest rate

4.42%

4.42%

4.42%

Debt instrument maturity term

12 years

Unsecured Debt | $450 Million Wells Fargo Unsecured Credit Facility [Member] | Line of Credit [Member]

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 450,000,000

$ 450,000,000

$ 450,000,000

Debt instrument, increase limit

800,000,000

Deferred finance costs

1,000,000

Unsecured Debt | $450 Million Wells Fargo Unsecured Credit Facility [Member] | Line of Credit [Member] | LIBOR

Debt Instrument [Line Items]

Interest rate margin (as a percent)

1.15%

Unsecured Debt | $450 Million Wells Fargo Unsecured Credit Facility [Member] | Line of Credit [Member] | Interest Expense [Member]

Debt Instrument [Line Items]

Facility fee

$ 1,000,000

700,000

$ 100,000

Unsecured Debt | $150 Million Wells Fargo Unsecured Term Loan C [Member]

Debt Instrument [Line Items]

Face amount of debt

$ 150,000,000

Debt instrument maturity term

5 years

Deferred finance costs

$ 1,000,000

Unused commitment fee (as a percent)

0.175%

Line of credit, accordion feature, increase limit

$ 250,000,000

Line of Credit Facility, Accordion Feature, Number of Advances | advance

6

Debt instrument, accordion feature, increase limit, minimum advance amount

$ 25,000,000

Proceeds from unsecured notes

$ 150,000,000

Annual fee

$ 50,000

Unsecured Debt | $150 Million Wells Fargo Unsecured Term Loan C [Member] | LIBOR

Debt Instrument [Line Items]

Interest rate margin (as a percent)

1.30%

Unsecured Debt | $150 Million Wells Fargo Unsecured Term Loan C [Member] | Minimum | Eurodollar [Member]

Debt Instrument [Line Items]

Interest rate margin (as a percent)

1.30%

Unsecured Debt | $150 Million Wells Fargo Unsecured Term Loan C [Member] | Minimum | Base Rate

Debt Instrument [Line Items]

Interest rate margin (as a percent)

0.30%

Unsecured Debt | $150 Million Wells Fargo Unsecured Term Loan C [Member] | Maximum | Eurodollar [Member]

Debt Instrument [Line Items]

Interest rate margin (as a percent)

1.90%

Unsecured Debt | $150 Million Wells Fargo Unsecured Term Loan C [Member] | Maximum | Base Rate

Debt Instrument [Line Items]

Interest rate margin (as a percent)

0.90%

Unsecured Debt | $100 Million Series F Unsecured Notes [Member]

Debt Instrument [Line Items]

Face amount of debt

$ 100,000,000

Stated interest rate

3.98%

3.98%

3.98%

Debt instrument maturity term

7 years

Placement fee (as a percent)

0.50%

Unsecured Debt | $150 Million Wells Fargo Unsecured Term Loan B [Member]

Debt Instrument [Line Items]

Proceeds from unsecured notes

$ 150,000,000

Unsecured Debt | $150 Million Wells Fargo Unsecured Term Loan B [Member] | LIBOR

Debt Instrument [Line Items]

Interest rate margin (as a percent)

1.30%

1.70%

1.30%

Secured Debt

Debt Instrument [Line Items]

Debt Issuance Costs, Net

$ 873,000

$ 873,000

$ 1,270,000

Secured Debt | National Life Insurance Company Due August 10, 2016 [Member]

Debt Instrument [Line Items]

Stated interest rate

5.75%

5.75%

Secured Debt | Principal Life Insurance Company Due May 05, 2017 [Member]

Debt Instrument [Line Items]

Stated interest rate

5.73%

5.73%

Write off of Deferred Debt Issuance Cost

$ 100,000

Secured Debt | Thrivent Financial for Lutherans Due December 15, 2023 [Member]

Debt Instrument [Line Items]

Stated interest rate

4.78%

4.78%

Secured Debt | Wells Fargo Bank, National Association CMBS Loan [Member]

Debt Instrument [Line Items]

Stated interest rate

4.31%

4.31%

Extinguishment of Debt, Amount

$ 1,500,000

$ 1,200,000

Write off of Deferred Debt Issuance Cost

$ 200,000

Secured Debt | Connecticut General Life Insurance Company - Facility 2

Debt Instrument [Line Items]

Stated interest rate

5.75%

5.75%

Extinguishment of Debt, Amount

$ 3,600,000

$ 6,200,000

$ 10,500,000

Write off of Deferred Debt Issuance Cost

$ 900,000

Secured Debt | Connecticut General Life Insurance Company - Facility 1 [Member]

Debt Instrument [Line Items]

Stated interest rate

6.50%

6.50%

Extinguishment of Debt, Amount

$ 21,000,000

Write off of Deferred Debt Issuance Cost

$ 900,000

Rock Hill, SC, Q3 2016 [Member]

Debt Instrument [Line Items]

Mortgage note assumed

$ 4,000,000

Rock Hill, SC, Q3 2016 [Member] | Secured Debt | Thrivent Financial for Lutherans Due December 15, 2023 [Member]

Debt Instrument [Line Items]

Assumption of mortgage notes

$ 4,000,000

Stated interest rate

4.78%

Liability, fair value adjustment

$ 100,000

Discount rate at which cash flows are discounted (as a percent)

4.45%

Burlington, NJ, Q1 2015

Debt Instrument [Line Items]

Mortgage note assumed

$ 11,800,000

Burlington, NJ, Q1 2015 | Mortgages [Member]

Debt Instrument [Line Items]

Assumption of mortgage notes

$ 11,800,000

Charlotte, NC, Q2 2015

Debt Instrument [Line Items]

Mortgage note assumed

$ 4,900,000

Charlotte, NC, Q2 2015 | Secured Debt | National Life Insurance Company Due August 10, 2016 [Member]

Debt Instrument [Line Items]

Assumption of mortgage notes

$ 4,900,000

Stated interest rate

5.75%

Liability, fair value adjustment

$ 100,000

Discount rate at which cash flows are discounted (as a percent)

3.05%

Conyers, GA, Q3 2015

Debt Instrument [Line Items]

Mortgage note assumed

$ 5,700,000

Conyers, GA, Q3 2015 | Secured Debt | Principal Life Insurance Company Due May 05, 2017 [Member]

Debt Instrument [Line Items]

Assumption of mortgage notes

$ 5,700,000

Stated interest rate

5.73%

Liability, fair value adjustment

$ 300,000

Discount rate at which cash flows are discounted (as a percent)

2.64%

Laurens, SC, Q4 2015

Debt Instrument [Line Items]

Mortgage note assumed

$ 3,900,000

Georgetown, KY, Q4 2011 | Secured Debt | Connecticut General Life Insurance Company - Facility 2

Debt Instrument [Line Items]

Write off of Deferred Debt Issuance Cost

100,000

Parsons, KS, Q4 2012 | Secured Debt | Wells Fargo Bank, National Association CMBS Loan [Member]

Debt Instrument [Line Items]

Extinguishment of Debt, Amount

$ 1,700,000

Write off of Deferred Debt Issuance Cost

200,000

Kansas City, KS, Q4 2012 | Secured Debt | Wells Fargo Bank, National Association CMBS Loan [Member]

Debt Instrument [Line Items]

Extinguishment of Debt, Amount

$ 1,800,000

Write off of Deferred Debt Issuance Cost

300,000

Conyers, GA, Q3 2011 | Secured Debt | Connecticut General Life Insurance Company - Facility 2

Debt Instrument [Line Items]

Write off of Deferred Debt Issuance Cost

$ 200,000

Gloversville, NY, Q4 2012, Three | Secured Debt | Wells Fargo Bank, National Association CMBS Loan [Member]

Debt Instrument [Line Items]

Write off of Deferred Debt Issuance Cost

$ 300,000

Debt - 2015 Activity (Details)

Debt - 2015 Activity (Details) - USD ($) $ in Thousands	Dec. 01, 2015	Feb. 20, 2015	Dec. 18, 2014	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Sep. 29, 2015
Debt Instrument [Line Items]
Assumption of mortgage notes					$ 4,037	$ 26,267	$ 4,198
Unamortized fair market value premium					112
Amortization of deferred financing fees					1,900	1,500	$ 1,300
Debt Issuance Costs, Net					6,299	6,900
Principal outstanding					1,036,139	980,248
Secured Debt
Debt Instrument [Line Items]
Unamortized fair market value premium					112	447
Debt Issuance Costs, Net					873	1,270
Principal outstanding					163,565	229,910
Unsecured Debt
Debt Instrument [Line Items]
Deferred finance costs						600
Principal outstanding					446,608
Unsecured Debt | Line of Credit [Member]
Debt Instrument [Line Items]
Principal outstanding					$ 28,000	56,000
$80 Million Series C Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument maturity term			12 years
Stated interest rate					4.42%
Principal outstanding			$ 80,000
$100 Million Series D Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Face amount of debt		$ 100,000
Debt instrument maturity term		10 years
Stated interest rate		4.32%			4.32%
$20 Million Series E Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Face amount of debt		$ 20,000
Debt instrument maturity term		12 years
Stated interest rate		4.42%			4.42%
$50 Million Series A Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate					4.98%
$50 Million Series B Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate					4.98%
Wells Fargo, National Association Due August 1, 2017 [Member] | Secured Debt
Debt Instrument [Line Items]
Stated interest rate					5.90%
$450 Million Wells Fargo Unsecured Credit Facility [Member] | Unsecured Debt | Line of Credit [Member]
Debt Instrument [Line Items]
Deferred finance costs								$ 1,000
Principal outstanding					$ 28,000	$ 56,000
$100 Million Series F Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Face amount of debt	$ 100,000
Debt instrument maturity term				7 years
Stated interest rate	3.98%				3.98%
Placement fee (as a percent)	0.50%

Debt - Financial Covenants (Det

Debt - Financial Covenants (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)
Covenant and other disclosures
Net book value of properties that are collateral for debt arrangements | $	$ 229.9	$ 268.8
Credit Facility and Term Loans [Member] | Unsecured Debt
Covenant and other disclosures
Consolidated leverage ratio	0.60
Secured leverage ratio	0.40
Unencumbered leverage ratio	0.60
Secured recourse debt level	0.075
Fixed charge ratio	1.50
Unsecured interest ratio	1.75
Interest coverage ratio	1.50
Connecticut General Life Insurance Company Facilities [Member] | Secured Debt
Covenant and other disclosures
Number of properties serving as collateral | property	17

Debt - Fair Value (Details)

Debt - Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 1,042,326
Unamortized fair market value premium	112
Debt Issuance Costs, Net	6,299	$ 6,900
Principal outstanding	1,036,139	980,248
Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding	446,608
Unsecured Debt | Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	450,000	300,000
Debt Issuance Costs, Net	3,392	3,382
Principal outstanding		296,618
Unsecured Debt | Unsecured Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	400,000	400,000
Debt Issuance Costs, Net	2,034	2,280
Principal outstanding	397,966	397,720
Unsecured Debt | Line of Credit [Member]
Debt Instrument [Line Items]
Principal outstanding	28,000	56,000
Secured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross	164,326	230,733
Unamortized fair market value premium	112	447
Debt Issuance Costs, Net	873	1,270
Principal outstanding	163,565	229,910
Carrying Amount
Debt Instrument [Line Items]
Long-term Debt, Gross	1,042,326	986,733
Unamortized fair market value premium	112	447
Debt Issuance Costs, Net	6,299	6,932
Principal outstanding	1,036,139	980,248
Carrying Amount | Unsecured Debt | Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	450,000	300,000
Carrying Amount | Unsecured Debt | Unsecured Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	400,000	400,000
Carrying Amount | Unsecured Debt | Line of Credit [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	28,000	56,000
Carrying Amount | Secured Debt | Mortgages [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	164,326	230,733
Level 3 Inputs | Fair Value
Debt Instrument [Line Items]
Long-term Debt, Fair Value	1,043,190	988,838
Level 3 Inputs | Fair Value | Unsecured Debt | Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	450,000	303,457
Level 3 Inputs | Fair Value | Unsecured Debt | Unsecured Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	399,091	392,054
Level 3 Inputs | Fair Value | Unsecured Debt | Line of Credit [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	28,000	56,000
Level 3 Inputs | Fair Value | Secured Debt | Mortgages [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 166,099	$ 237,327
Minimum | Level 3 Inputs | Long-term Debt [Member] | Income Approach Valuation Technique
Debt Instrument [Line Items]
Discount rate at which cash flows are discounted (as a percent)	1.92%	1.58%
Maximum | Level 3 Inputs | Long-term Debt [Member] | Income Approach Valuation Technique
Debt Instrument [Line Items]
Discount rate at which cash flows are discounted (as a percent)	4.85%	4.82%

Debt - Future Principal Payment

Debt - Future Principal Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Aggregate future principal payments of mortgage notes payable, Unsecured credit facility
2,017	$ 18,737
2,018	88,578
2,019	29,926
2,020	152,006
2,021	152,103
Thereafter	600,976
Total aggregate principal payments	1,042,326
Unamortized fair market value premium	112
Debt Issuance Costs, Net	$ (6,299)	$ (6,900)

Use of Derivative Financial I58

Use of Derivative Financial Instruments - Risk Management and Unsecured Loan Swaps (Details) $ in Thousands	Dec. 18, 2014USD ($)	Nov. 21, 2014USD ($)itemRate	Dec. 31, 2016USD ($)derivative	Dec. 31, 2015USD ($)	Oct. 24, 2014USD ($)derivative
Derivatives - other information
Principal outstanding			$ 1,036,139	$ 980,248
Unsecured Debt
Derivatives - other information
Principal outstanding			446,608
Interest Rate Swaps
Unsecured Term Loan Swaps
Notional amount			$ 450,000		$ 170,000
Derivatives - other information
Total number of interest rate swaps | derivative			23		2
Termination fee		$ 400
Number of counterparties to whom termination fees is paid | item		2
Settlement value		$ 400
Interest Rate Swaps | Series D Unsecured Notes
Unsecured Term Loan Swaps
Fixed Interest Rate (as a percent) | Rate		2.452%
Interest Rate Swaps | Series C Unsecured Notes
Unsecured Term Loan Swaps
Fixed Interest Rate (as a percent) | Rate		2.615%
Interest Rate Derivative, PNC Bank, October 10, 2012 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 10,000
Fair value			$ 6
Fixed Interest Rate (as a percent)			0.7945%
Interest Rate Derivative, Bank of America, October 10, 2012 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 10,000
Fair value			$ 6
Fixed Interest Rate (as a percent)			0.7945%
Interest Rate Derivative, UBS AG, October 10, 2012 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 10,000
Fair value			$ 6
Fixed Interest Rate (as a percent)			0.7945%
Interest Rate Derivative, Royal Bank of Canada, October 10, 2012 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 10,000
Fair value			$ 6
Fixed Interest Rate (as a percent)			0.7945%
Interest Rate Derivative, RJ Capital Services, Inc, October 10, 2012, One [Member]
Unsecured Term Loan Swaps
Notional amount			$ 10,000
Fair value			$ 5
Fixed Interest Rate (as a percent)			0.7975%
Interest Rate Derivative, Bank of America, October 10, 2012, Two [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ 21
Fixed Interest Rate (as a percent)			0.7525%
Interest Rate Derivative, RJ Capital Services, October 10, 2012, Two [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ 26
Fixed Interest Rate (as a percent)			0.727%
Interest Rate Derivative, Regions Bank, March 01, 2013 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ 131
Fixed Interest Rate (as a percent)			1.33%
Interest Rate Derivative, Capital One, June 01, 2013 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 50,000
Fair value			$ (274)
Fixed Interest Rate (as a percent)			1.681%
Interest Rate Derivative, Capital One, August 01, 2013 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ (154)
Fixed Interest Rate (as a percent)			1.703%
Interest Rate Derivative, Regions Bank, February 03, 2014 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ (378)
Fixed Interest Rate (as a percent)			1.9925%
Interest Rate Derivative, Royal Bank of Canada, March 20, 2015 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ (16)
Fixed Interest Rate (as a percent)			1.709%
Interest Rate Derivative, The Toronto-Dominion Bank, March 20, 2015 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ (18)
Fixed Interest Rate (as a percent)			1.7105%
Interest Rate Derivative, Wells Fargo Bank, March 20, 2015 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ 4
Fixed Interest Rate (as a percent)			1.828%
Interest Rate Derivative, The Toronto-Dominion Bank, September 10, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 100,000
Fair value			$ (1,240)
Fixed Interest Rate (as a percent)			2.2255%
Interest Rate Derivative, The Toronto-Dominion Bank, February 14, 2020 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ (50)
Fixed Interest Rate (as a percent)			2.4535%
Interest Rate Derivative, Regions Bank, February 14, 2020 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 50,000
Fair value			$ (133)
Fixed Interest Rate (as a percent)			2.475%
Interest Rate Derivative, Capital One, February 14, 2020 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 50,000
Fair value			$ (175)
Fixed Interest Rate (as a percent)			2.53%
Interest Rate Derivative, The Toronto-Dominion Bank, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ 217
Fixed Interest Rate (as a percent)			1.383%
Interest Rate Derivative, PNC Bank, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 50,000
Fair value			$ 421
Fixed Interest Rate (as a percent)			1.3906%
Interest Rate Derivative, Regions Bank, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 35,000
Fair value			$ 292
Fixed Interest Rate (as a percent)			1.3858%
Interest Rate Derivative, US Bank, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 25,000
Fair value			$ 207
Fixed Interest Rate (as a percent)			1.395%
Interest Rate Derivative, Capital One, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount			$ 15,000
Fair value			$ 123
Fixed Interest Rate (as a percent)			1.395%
$80 Million Series C Unsecured Notes [Member] | Unsecured Debt
Derivatives - other information
Principal outstanding	$ 80,000
Debt instrument maturity term	12 years

Use of Derivative Financial I59

Use of Derivative Financial Instruments - FV of Interest Rate Swaps (Details) - Interest Rate Swaps - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair value of the interest rate swaps outstanding
Gain (loss) on cash flow hedge ineffectiveness, net	$ 66
Notional amount assets	300,000	$ 275,000
Fair value - assets	1,471	1,867
Notional amount liabilities	375,000	400,000
Fair Value - liabilities	$ (2,438)	$ (3,766)

Use of Derivative Financial I60

Use of Derivative Financial Instruments - Cash Flow Hedges and Contingent Features (Details) - Interest Rate Swaps	12 Months Ended
	Dec. 31, 2016USD ($)derivative	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Oct. 24, 2014derivative
Cash Flow Hedges of Interest Rate Risk
Gain (loss) on cash flow hedge ineffectiveness, net	$ 66,000
Additional amount reclassified from accumulated other comprehensive income (loss) as an increase to interest expense over the next twelve months	2,400,000
Amount of income (loss) recognized in accumulated other comprehensive income (loss) on interest rate swaps (effective portion)	2,244,000	$ 5,387,000	$ 6,705,000
Amount of loss reclassified from accumulated other comprehensive income (loss) into income (loss) as interest expense (effective portion)	3,142,000	3,431,000	2,508,000
Amount of gain (loss) recognized in interest expense (ineffective portion and amount excluded from effectiveness testing)	$ 66,000	$ 0	$ 0
Credit-risk-related Contingent Features
Number of interest rate swaps in asset position | derivative	13
Total number of interest rate swaps | derivative	23			2
Fair values of the interest rate swaps in a net asset position	$ 1,500,000
Number of interest rate swaps in liability position | derivative	10
Fair values of the interest rate swaps in a net liability position	$ 2,500,000
Value of adjustment for nonperformance risk related to net asset position	(13,000)
Value of adjustment for nonperformance risk related to net liability position	100,000
Termination value required to settle obligations under agreements	2,600,000
Accounts Payable, Accrued Expenses and Other Liabilities [Member]
Credit-risk-related Contingent Features
Accrued interest on interest rate swaps	$ 40,000

Use of Derivative Financial I61

Use of Derivative Financial Instruments - FV on Recurring Basis (Details) - Interest Rate Swaps - Fair value on recurring basis - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets (liabilities):
Interest Rate Swaps - Asset	$ 1,471	$ 1,867
Interest Rate Swaps - Liabilities	(2,438)	(3,766)
Level 1
Assets (liabilities):
Interest Rate Swaps - Asset	0	0
Interest Rate Swaps - Liabilities	0	0
Level 2
Assets (liabilities):
Interest Rate Swaps - Asset	1,471	1,867
Interest Rate Swaps - Liabilities	(2,438)	(3,766)
Level 3
Assets (liabilities):
Interest Rate Swaps - Asset	0	0
Interest Rate Swaps - Liabilities	$ 0	$ 0

Equity - Preferred Stock (Detai

Equity - Preferred Stock (Details) - $ / shares	Feb. 15, 2017	Dec. 30, 2016	Nov. 02, 2016	Sep. 30, 2016	Aug. 01, 2016	Jun. 30, 2016	May 02, 2016	Mar. 31, 2016	Mar. 17, 2016	Feb. 22, 2016	Dec. 31, 2015	Oct. 22, 2015	Sep. 30, 2015	Jul. 21, 2015	Jun. 30, 2015	May 04, 2015	Mar. 31, 2015	Feb. 20, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Preferred stock, shares authorized											10,000,000								15,000,000	10,000,000
Preferred stock, par value (in dollars per share)											$ 0.01								$ 0.01	$ 0.01
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)									$ 0.01
Number of shares sold									3,000,000										3,000,000
Issue price (in dollars per share)									$ 25										$ 25
Dividend rate (as a percent)																			6.875%
Dividend declared (in dollars per share)			$ 0.4296875		$ 0.4296875		$ 0.4965300												$ 1.3559050
Dividend paid on preferred stock (in dollars per share)		$ 0.4296875		$ 0.4296875		$ 0.4965300		$ 0											1.3559050
Series C Preferred Stock [Member] | Non-recognized Subsequent Event
Class of Stock [Line Items]
Dividend declared (in dollars per share)	$ 0.4296875
Series A Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Redemption Price Per Share			25
Dividend declared (in dollars per share)			0.19375		0.56250		0.56250			$ 0.56250		$ 0.5625		$ 0.5625		$ 0.5625		$ 0.5625	1.88125	2.2500
Dividend paid on preferred stock (in dollars per share)		0.19375		0.56250		0.56250		0.56250			0.5625		$ 0.5625		$ 0.5625		$ 0.5625		$ 1.88125	2.2500	$ 2.25
Series B Preferred Stock
Class of Stock [Line Items]
Number of shares sold																			2,800,000
Issue price (in dollars per share)																			$ 25
Dividend rate (as a percent)																			6.625%
Dividend declared (in dollars per share)			$ 0.4140625		$ 0.4140625		$ 0.4140625			$ 0.4140625		$ 0.4140625		$ 0.4140625		$ 0.4140625		$ 0.4140625	$ 1.6562500	1.6562500
Dividend paid on preferred stock (in dollars per share)		$ 0.4140625		$ 0.4140625		$ 0.4140625		$ 0.4140625			$ 0.4140625		$ 0.4140625		$ 0.4140625		$ 0.4140625		$ 1.6562500	$ 1.6562500	$ 1.656250
Series B Preferred Stock | Non-recognized Subsequent Event
Class of Stock [Line Items]
Dividend declared (in dollars per share)	$ 0.4140625

Equity - Common Stock (Details)

Equity - Common Stock (Details) - USD ($)	Feb. 15, 2017	Jan. 17, 2017	Dec. 15, 2016	Nov. 15, 2016	Nov. 02, 2016	Oct. 17, 2016	Sep. 15, 2016	Aug. 15, 2016	Aug. 01, 2016	Jul. 15, 2016	Jun. 15, 2016	May 16, 2016	May 02, 2016	Apr. 15, 2016	Mar. 15, 2016	Feb. 22, 2016	Feb. 16, 2016	Jan. 15, 2016	Dec. 15, 2015	Nov. 16, 2015	Oct. 22, 2015	Oct. 15, 2015	Sep. 15, 2015	Aug. 17, 2015	Jul. 21, 2015	Jul. 15, 2015	Jun. 15, 2015	May 15, 2015	May 04, 2015	Apr. 15, 2015	Mar. 16, 2015	Feb. 20, 2015	Feb. 17, 2015	Oct. 30, 2014	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Proceeds from sales of common stock																																				$ 282,669,000	$ 74,892,000	$ 316,692,000
Common Stock
Class of Stock [Line Items]
Dividends paid (in dollars per share)			$ 0.115833	$ 0.115833		$ 0.115833	$ 0.115833	$ 0.115833		$ 0.115833	$ 0.115833	$ 0.115833		$ 0.115833	$ 0.115833		$ 0.115833	$ 0.1150	$ 0.1150	$ 0.1150		$ 0.1150	$ 0.1150	$ 0.1150		$ 0.1125	$ 0.1125	$ 0.1125		$ 0.1125	$ 0.1125		$ 0.1125			$ 1.389996	$ 1.3650
Dividend declared (in dollars per share)					$ 0.116667				$ 0.115833				$ 0.115833			$ 0.115833					$ 0.115833				$ 0.1150				$ 0.1150			$ 0.1125		$ 0.1125		$ 1.389996	$ 1.3650
At The Market Program 2016 $228 Million [Member] | Common Stock
Class of Stock [Line Items]
Number of shares sold																																				4,763,838
Maximum aggregate offering price under at-the-market program																																				$ 228,218,000
Aggregate value of common stock available to be sold under the ATM																																				117,331,000
Proceeds from sales of common stock																																				110,887,000
Sales agents' fee																																				1,550,000
Net proceeds																																				$ 109,337,000
At The Market Program 2016 $200 Million [Member] | Common Stock
Class of Stock [Line Items]
Number of shares sold																																				7,326,200
Proceeds from sales of common stock																																				$ 171,782,000
Sales agents' fee																																				2,429,000
Net proceeds																																				$ 169,353,000
2014 $200 million ATM | Common Stock
Class of Stock [Line Items]
Number of shares sold																																					2,661,403
Proceeds from sales of common stock																																					$ 57,571,000
Sales agents' fee																																					864,000
Net proceeds																																					$ 56,707,000
2014 $150 million ATM | Common Stock
Class of Stock [Line Items]
Number of shares sold																																					795,000
Proceeds from sales of common stock																																					$ 17,321,000
Sales agents' fee																																					260,000
Net proceeds																																					$ 17,061,000
At The Market (ATM) Program
Class of Stock [Line Items]
Number of shares sold																																				12,090,038
Proceeds from sales of common stock																																				$ 282,669,000
Sales agents' fee																																				3,979,000
Net proceeds																																				$ 278,690,000
At The Market (ATM) Program | Common Stock
Class of Stock [Line Items]
Number of shares sold																																			3,456,403
Proceeds from sales of common stock																																			$ 74,892,000
Sales agents' fee																																			1,124,000
Net proceeds																																			$ 73,768,000
Weighted Average [Member] | At The Market Program 2016 $228 Million [Member] | Common Stock
Class of Stock [Line Items]
Issue price (in dollars per share)																																				$ 23.28
Weighted Average [Member] | At The Market Program 2016 $200 Million [Member] | Common Stock
Class of Stock [Line Items]
Issue price (in dollars per share)																																				23.45
Weighted Average [Member] | 2014 $200 million ATM | Common Stock
Class of Stock [Line Items]
Issue price (in dollars per share)																																					$ 21.63
Weighted Average [Member] | 2014 $150 million ATM | Common Stock
Class of Stock [Line Items]
Issue price (in dollars per share)																																					21.79
Weighted Average [Member] | At The Market (ATM) Program | Common Stock
Class of Stock [Line Items]
Issue price (in dollars per share)																																				$ 23.38	$ 21.67
Non-recognized Subsequent Event | Common Stock
Class of Stock [Line Items]
Dividends paid (in dollars per share)		$ 0.115833
Dividend declared (in dollars per share)	$ 0.116667

Equity - Restricted Stock (Deta

Equity - Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Shares
Unvested at beginning of period (in shares)	534,910
Unvested at end of period (in shares)	403,423	534,910
2011 Equity Incentive Plan | Restricted stock
Shares
Unvested at beginning of period (in shares)	271,115	263,916
Granted (in shares)	101,289	94,290
Vested (in shares)	(98,746)	(72,185)	(51,885)
Forfeited (in shares)	(1,321)	(14,906)
Unvested at end of period (in shares)	272,337	271,115	263,916
Grant date fair value (in dollars per share)	$ 17.98	$ 26.17
Unrecognized compensation costs	$ 3,300
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 1 month 13 days
Number of shares vested	98,746	72,185	51,885
Fair value of shares vested	$ 1,813	$ 1,751	$ 1,123
Granted on January 8, 2016 [Member] | 2011 Equity Incentive Plan | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years

Noncontrolling Interest (Detail

Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Noncontrolling interest
Noncontrolling interest ownership percentage	4.30%	4.90%	3.60%
Summary of nonvested share-based compensation activity
Unvested at beginning of period (in shares)	534,910
Unvested at end of period (in shares)	403,423	534,910
2011 Equity Incentive Plan | LTIP Units
Summary of nonvested share-based compensation activity
Unvested at beginning of period (in shares)		448,887
Granted (in shares)	176,396	323,069
Vested (in shares)	(307,883)	(237,046)	(639,445)
Unvested at end of period (in shares)			448,887
Fair value of shares vested	$ 6,393	$ 4,853	$ 14,063
Noncontrolling Interest - Unit holders in Operating Partnership
Noncontrolling interest
Units outstanding, balance at beginning of period (in units)	3,525,977	2,431,849
Granted/Issued (in units)	176,396	1,187,352
Forfeitures (in units)	0	0
Conversions from LTIP units to Other Common Units (in units)	0	0
Redemptions from Other Common Units to common stock (in units)	(68,492)	(90,824)
Redemption of Other Common Units for cash (in units)		(2,400)
Units outstanding, balance at end of period (in units)	3,633,881	3,525,977	2,431,849
LTIP Units | Noncontrolling Interest - Unit holders in Operating Partnership
Noncontrolling interest
Units outstanding, balance at beginning of period (in units)	1,610,105	1,307,036
Granted/Issued (in units)	176,396	323,069
Forfeitures (in units)	0	0
Conversions from LTIP units to Other Common Units (in units)	(209,985)	(20,000)
Redemptions from Other Common Units to common stock (in units)	0	0
Redemption of Other Common Units for cash (in units)		0
Units outstanding, balance at end of period (in units)	1,576,516	1,610,105	1,307,036
Other Common Units | Noncontrolling Interest - Unit holders in Operating Partnership
Noncontrolling interest
Units outstanding, balance at beginning of period (in units)	1,915,872	1,124,813
Granted/Issued (in units)	0	864,283
Forfeitures (in units)	0	0
Conversions from LTIP units to Other Common Units (in units)	209,985	20,000
Redemptions from Other Common Units to common stock (in units)	(68,492)	(90,824)
Redemption of Other Common Units for cash (in units)		(2,400)
Units outstanding, balance at end of period (in units)	2,057,365	1,915,872	1,124,813

Noncontrolling Interest - LTIP

Noncontrolling Interest - LTIP Units Narrative (Details) $ in Thousands	Feb. 22, 2016shares	Jan. 08, 2016shares	May 04, 2015shares	Oct. 27, 2014USD ($)shares	Jul. 01, 2014USD ($)shares	May 12, 2014	Apr. 21, 2014	Apr. 20, 2014shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares outstanding (in shares) | shares									403,423	534,910
General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation									$ 9,729	$ 7,578	$ 7,314
Benjamin S. Butcher
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of contract extension			1 year
Nonrenewal notice period			60 days
Contract term			3 years
Benjamin S. Butcher | Vest on 3rd anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			50.00%
Benjamin S. Butcher | Vest on 4th anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			16.67%
Benjamin S. Butcher | Vest on 5th anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			16.67%
Benjamin S. Butcher | Vest on 6th anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			16.67%
Executive Vice President [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contract term				3 years
Gregory W. Sullivan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contract term						3 years
Gregory W. Sullivan | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salary, bonus and other benefits									1,500
Former Chief Financial Officer 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of which the former CFO will provide consultation services							1 year
Former Chief Financial Officer 2014 [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salary, bonus and other benefits											700
Kathryn Arnone | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation											900
LTIP Units | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation									$ 6,089	$ 4,774	5,353
LTIP Units | Benjamin S. Butcher
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares			100,000
LTIP Units | Former Chief Financial Officer 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount of dividend paid											$ 100
2011 Equity Incentive Plan | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares									0	0
Granted (in shares) | shares									176,396	323,069
Unvested shares outstanding (in shares) | shares											448,887
Unrecognized compensation costs									$ 6,600
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition									2 years 5 months 20 days
2011 Equity Incentive Plan | LTIP Units | Executive officers | Awards vest over five years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit conversion ratio									1
2011 Equity Incentive Plan | LTIP Units | Executive Vice President [Member] | Awards vest over five years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				5 years
Granted (in shares) | shares				4,006
Stock Issued During Period, Value, Share-based Compensation, Gross				$ 100
2011 Equity Incentive Plan | LTIP Units | Executive Vice President [Member] | Awards vest over three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares				26,596
Stock Issued During Period, Value, Share-based Compensation, Gross				$ 600
2011 Equity Incentive Plan | LTIP Units | Gregory W. Sullivan | Awards vest over five years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)					3 years
Granted (in shares) | shares					14,850
Stock Issued During Period, Value, Share-based Compensation, Gross					$ 1,200
2011 Equity Incentive Plan | LTIP Units | Gregory W. Sullivan | Awards vest over three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)					5 years
Granted (in shares) | shares					52,106
Stock Issued During Period, Value, Share-based Compensation, Gross					$ 300
2011 Equity Incentive Plan | LTIP Units | Gregory W. Sullivan | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation									$ 1,600
2011 Equity Incentive Plan | LTIP Units | Former Chief Financial Officer 2014 [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation											$ 2,000
2011 Equity Incentive Plan | LTIP Units | Kathryn Arnone | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation											900
2011 Outperformance Program | LTIP Units | Former Chief Financial Officer 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares outstanding (in shares) | shares								82,804
2011 Outperformance Program | LTIP Units | Former Chief Financial Officer 2014 [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation											2,000
2011 Outperformance Program | Performance Shares [Member] | Former Chief Financial Officer 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of interests in the OPP awarded								14.00%
2011 Outperformance Program | Performance Shares [Member] | Former Chief Financial Officer 2014 [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation											200
Grant Date January 8, 2016 [Member] | 2011 Equity Incentive Plan | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares		135,546
Grant Date January 8, 2016 [Member] | 2011 Equity Incentive Plan | LTIP Units | Executive officers | Awards vest over five years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)									4 years
Grant Date February 22, 2016 [Member] | 2011 Equity Incentive Plan | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares	18,386
Grant Date February 22, 2016 [Member] | 2011 Equity Incentive Plan | LTIP Units | Executive officers | Awards vest over three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)									4 years
Awarded in 2015 [Member] | Performance Shares [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation									$ 465	$ 523	$ 456
Awarded in 2015 [Member] | 2011 Equity Incentive Plan | LTIP Units | Gregory W. Sullivan | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation									1,600
Awarded in 2015 [Member] | 2011 Equity Incentive Plan | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs									$ 500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition									1 year 18 days

Noncontrolling Interest Noncont

Noncontrolling Interest Noncontrolling Interest - FV Assumptions (Details) - LTIP Units - 2011 Equity Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	Feb. 22, 2016	Jan. 08, 2016	Jan. 06, 2016	May 04, 2015	Jan. 12, 2015	Dec. 31, 2016	Dec. 31, 2015
Assumptions
Units at issuance (in shares)						176,396	323,069
Grant Date February 22, 2016 [Member]
Assumptions
Expected term	10 years
Expected volatility (as a percent)	22.00%
Expected dividend yield (as a percent)	6.00%
Risk-free interest rate (as a percent)	1.01%
Fair value of units at issuance	$ 277
Units at issuance (in shares)	18,386
Fair value share price per unit (in dollars per share)	$ 15.07
Grant Date May 04, 2015
Assumptions
Expected term				10 years
Expected volatility (as a percent)				20.00%
Expected dividend yield (as a percent)				6.00%
Risk-free interest rate (as a percent)				0.66%
Fair value of units at issuance				$ 2,038
Units at issuance (in shares)				100,000
Fair value share price per unit (in dollars per share)				$ 20.38
Grant Date January 02 2014
Assumptions
Expected term					10 years
Expected volatility (as a percent)					20.00%
Expected dividend yield (as a percent)					6.00%
Risk-free interest rate (as a percent)					0.62%
Fair value of units at issuance					$ 5,450
Units at issuance (in shares)					223,069
Fair value share price per unit (in dollars per share)					$ 24.43
Grant Date October 27, 2014 [Member]
Assumptions
Expected term	10 years
Expected volatility (as a percent)	20.00%
Expected dividend yield (as a percent)	6.00%
Risk-free interest rate (as a percent)	0.48%
Fair value of units at issuance	$ 690
Units at issuance (in shares)	30,602
Fair value share price per unit (in dollars per share)	$ 22.56
Grant Date July 01, 2014 [Member]
Assumptions
Expected term	10 years
Expected volatility (as a percent)	40.00%
Expected dividend yield (as a percent)	6.00%
Risk-free interest rate (as a percent)	0.79%
Fair value of units at issuance	$ 1,542
Units at issuance (in shares)	66,956
Fair value share price per unit (in dollars per share)	$ 23.03
Grant Date January 02, 2014 [Member]
Assumptions
Expected term	10 years
Expected volatility (as a percent)	40.00%
Expected dividend yield (as a percent)	6.00%
Risk-free interest rate (as a percent)	0.79%
Fair value of units at issuance	$ 4,329
Units at issuance (in shares)	224,424
Fair value share price per unit (in dollars per share)	$ 19.29
Grant Date January 8, 2016 [Member]
Assumptions
Expected term		10 years
Expected volatility (as a percent)		22.00%
Expected dividend yield (as a percent)		6.00%
Risk-free interest rate (as a percent)		1.28%
Fair value of units at issuance		$ 2,254
Units at issuance (in shares)		135,546
Fair value share price per unit (in dollars per share)		$ 16.63
Grant Date January 6, 2016 [Member]
Assumptions
Expected term			10 years
Expected volatility (as a percent)			22.00%
Expected dividend yield (as a percent)			6.00%
Risk-free interest rate (as a percent)			1.36%
Fair value of units at issuance			$ 390
Units at issuance (in shares)			22,464
Fair value share price per unit (in dollars per share)			$ 17.36

Noncontrolling Interest - Other

Noncontrolling Interest - Other Common Units (Details) $ in Millions	Dec. 11, 2015USD ($)shares	Jan. 22, 2015USD ($)shares	Dec. 31, 2016shares
Other Common Units
Noncontrolling Interest [Line Items]
Redemption right of investor to cause the Operating Partnership to redeem its units equivalent to current market value of number of shares of entity's common stock (in shares)			1
Unit conversion ratio			1
Burlington, NJ, Q1 2015
Noncontrolling Interest [Line Items]
Other common units issued for property acquisition (in units)		812,676
Other common units issued for property acquisition, fair value | $		$ 21.9
Burlington, NJ, Q1 2015 | Other Common Units
Noncontrolling Interest [Line Items]
Other common units issued for property acquisition (in units)		812,676
Other common units issued for property acquisition, fair value | $		$ 21.9
Laurens, SC, Q4 2015
Noncontrolling Interest [Line Items]
Other common units issued for property acquisition (in units)	51,607
Other common units issued for property acquisition, fair value | $	$ 1
Laurens, SC, Q4 2015 | Other Common Units
Noncontrolling Interest [Line Items]
Other common units issued for property acquisition (in units)	51,607
Other common units issued for property acquisition, fair value | $	$ 1
Laurens, SC, Q4 2015 and Burlington, NJ, Q1 2015 [Member]
Noncontrolling Interest [Line Items]
Average common stock closing price, trailing period		10 days
2011 Equity Incentive Plan | LTIP Units | Awards vest over five years | Executive officers
Noncontrolling Interest [Line Items]
Unit conversion ratio			1
2011 Equity Incentive Plan | LTIP Units | Awards vest over five years | Executive officers | Other Common Units
Noncontrolling Interest [Line Items]
Vesting period (in years)			10 days

Equity Incentive Plan - Summary

Equity Incentive Plan - Summary (Details) $ / shares in Units, $ in Thousands	Mar. 08, 2016USD ($)benchmark	Jan. 12, 2015USD ($)simulation$ / shares	Sep. 19, 2014USD ($)shares	Apr. 01, 2011shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)	May 06, 2013shares
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock that are available for issuance | shares					1,156,578	1,449,415
Maximum number of common stock that can be awarded | shares								3,642,461
Ratio by which number of shares available for grant is reduced for each LTIP unit awarded				1
2011 Equity Incentive Plan | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock equivalent to each LTIP unit (in shares) | shares				1
Fair value of shares vested					$ 6,393	$ 4,853	$ 14,063
Assumptions
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options					$ 6,600
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years 5 months 20 days
2011 Equity Incentive Plan | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested					$ 1,813	$ 1,751	$ 1,123
Assumptions
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options					$ 3,300
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years 1 month 13 days
2011 Outperformance Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of total stockholder return considered for performance measurement			3 years
Fair value of shares vested			$ 10,000
2011 Outperformance Program | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested shares issued | shares			397,590
2011 Outperformance Program | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested shares issued | shares			43,657
2015 Outperformance Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Measurement period for outperformance pool plan threshold		3 years
Beginning value of the company's common stock (in dollars per share) | $ / shares		$ 24.49
Percentage of excess total stockholder return above relative total stockholder return hurdle		10.00%
Number of trading days used to calculate average common stock price		20 days
Assumptions
Value of awards		$ 1,600
Number of simulations run to determine the fair value of awards | simulation		500,000
Expected volatility (as a percent)		20.00%
Risk-free interest rate (as a percent)		0.9814%
2015 Outperformance Program | Msci Us Reit Index
Assumptions
Expected volatility (as a percent)		13.60%
2015 Outperformance Program | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold percentage of increase in cumulative absolute total stockholder return		25.00%
Percent added to index to calculate total return threshold		5.00%
2015 Outperformance Program | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate reward available to all recipients as a percent of total shares of common stock and noncontrolling common units outstanding		0.24%
Aggregate reward available to all recipients		$ 15,400
Awarded in 2016 [Member] | 2011 Equity Incentive Plan | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation by Share-based Payment Award, Number of Benchmarks | benchmark	3
Share-based Compensation Arrangement by Share-based Payment Award, Allocation for Total Stockholder Return Compared to Industry Peer Group	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Allocation for Total Stockholder Return Compared to Size-Based Peer Group	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Allocation for Total Stockholder Return Compared to Index	50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	3 years
Assumptions
Value of awards	$ 2,600
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options					$ 1,900
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years 4 months 18 days
Awarded in 2016 [Member] | 2011 Equity Incentive Plan | Performance Shares [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percent of Target Units Awarded	0.00%
Awarded in 2016 [Member] | 2011 Equity Incentive Plan | Performance Shares [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percent of Target Units Awarded	250.00%
Awarded in 2016 [Member] | 2011 Equity Incentive Plan | Performance Shares [Member] | Weighted Average [Member]
Assumptions
Expected volatility (as a percent)	23.00%
Risk-free interest rate (as a percent)	1.0849%
Expected dividend yield (as a percent)	6.00%
Awarded in 2015 [Member] | 2011 Equity Incentive Plan | Performance Shares [Member]
Assumptions
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options					$ 500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					1 year 18 days
Vest on 4th anniversary | Awarded in 2016 [Member] | 2011 Equity Incentive Plan | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Assumptions
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%
Vest on 3rd anniversary | Awarded in 2016 [Member] | 2011 Equity Incentive Plan | Performance Shares [Member]
Assumptions
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%

Equity Incentive Plan - Amortiz

Equity Incentive Plan - Amortization of Restricted Stock (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
General and Administrative Expenses
Equity Incentive Plan
Share-based compensation	$ 9,729	$ 7,578	$ 7,314
General and Administrative Expenses | Restricted stock
Equity Incentive Plan
Share-based compensation	2,157	1,932	1,164
General and Administrative Expenses | LTIP Units
Equity Incentive Plan
Share-based compensation	6,089	4,774	5,353
Independent Director | General and Administrative Expenses
Equity Incentive Plan
Share-based compensation	346	349	341
Kathryn Arnone | General and Administrative Expenses
Equity Incentive Plan
Share-based compensation			900
Awarded in 2015 [Member] | General and Administrative Expenses | Performance Shares [Member]
Equity Incentive Plan
Share-based compensation	465	523	456
Awarded in 2016 [Member] | General and Administrative Expenses | Performance Shares [Member]
Equity Incentive Plan
Share-based compensation	$ 672	$ 0	0
2011 Equity Incentive Plan
Equity Incentive Plan
Number of shares of common stock that are available for issuance	1,156,578	1,449,415
2011 Equity Incentive Plan | Gregory W. Sullivan | General and Administrative Expenses | LTIP Units
Equity Incentive Plan
Share-based compensation	$ 1,600
2011 Equity Incentive Plan | Kathryn Arnone | General and Administrative Expenses | LTIP Units
Equity Incentive Plan
Share-based compensation			900
2011 Equity Incentive Plan | Former Chief Financial Officer 2014 [Member] | General and Administrative Expenses | LTIP Units
Equity Incentive Plan
Share-based compensation			2,000
2011 Equity Incentive Plan | Awarded in 2015 [Member] | Gregory W. Sullivan | General and Administrative Expenses | LTIP Units
Equity Incentive Plan
Share-based compensation	$ 1,600
2011 Outperformance Program | Former Chief Financial Officer 2014 [Member] | General and Administrative Expenses | LTIP Units
Equity Incentive Plan
Share-based compensation			2,000
2011 Outperformance Program | Former Chief Financial Officer 2014 [Member] | General and Administrative Expenses | Performance Shares [Member]
Equity Incentive Plan
Share-based compensation			$ 200
Common Stock | 2011 Equity Incentive Plan
Equity Incentive Plan
Share-based Compensation Arrangement by Share-baed Payment Award, Equity Instruments Other Than Options, Trailing Average Common Stock Price, Period	10 days

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Antidilutive participating securities
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements		0	0
Restricted stock
Antidilutive participating securities
Incremental Common Shares Attributable to Participating Nonvested Shares with Non-forfeitable Dividend Rights	276,367	280,839	268,894
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	92,251
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		70,149	110,048
Awarded in 2016 [Member] | Performance Shares [Member]
Antidilutive participating securities
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	123,112

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Numerator and Denominator (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator
Net income (loss) from continuing operations	$ 35,588	$ (29,345)	$ (4,685)
Less: preferred stock dividends	13,897	10,848	10,848
Less: amount allocated to unvested restricted stockholders	384	385	345
Less: loss attributable to noncontrolling interest after preferred stock dividends	1,069	(1,962)	(992)
Net loss attributable to common stockholders	$ 20,238	$ (38,616)	$ (14,886)
Denominator
Weighted average common shares outstanding - basic and diluted	70,637,185	66,307,972	54,086,345
Weighted Average Number of Shares Outstanding, Diluted	70,852,548	66,307,972	54,086,345
Income (loss) from continuing operations attributable to common stockholders (in dollars per share)	$ 0.29	$ (0.58)	$ (0.28)
Income (Loss) from Continuing Operations, Per Diluted Share	$ 0.29	$ (0.58)	$ (0.28)

Future Minimum Rents (Details)

Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2016USD ($)
Leases, Operating [Abstract]
2,016	$ 223,309
2,017	187,615
2,018	149,273
2,019	120,461
2,020	87,797
Thereafter	$ 301,177

Commitments and Contingencies -

Commitments and Contingencies - Agreements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition, Contingent Consideration [Line Items]
Letters of Credit Outstanding, Amount	$ 3,500,000
Property Acquisition under Agreement with Columbus Nova [Member] | Incentive Fee [Member]
Business Acquisition, Contingent Consideration [Line Items]
Fair value of incentive fee	$ 0	$ 0
Property Acquisition under Agreement with Columbus Nova [Member] | Incentive Fee [Member] | Level 3 Inputs | Market And Income Approach Valuation Technique [Member] | Contingent Consideration [Member]
Business Acquisition, Contingent Consideration [Line Items]
Discount rate at which cash flows are discounted (as a percent)		9.50%
Fair value inputs, exit capitalization rate (as a percent)		9.80%
Minimum | Property Acquisition under Agreement with Columbus Nova [Member] | Incentive Fee [Member] | Level 3 Inputs | Market And Income Approach Valuation Technique [Member] | Contingent Consideration [Member]
Business Acquisition, Contingent Consideration [Line Items]
Discount rate at which cash flows are discounted (as a percent)	8.00%
Fair value inputs, exit capitalization rate (as a percent)	7.00%
Maximum | Property Acquisition under Agreement with Columbus Nova [Member] | Incentive Fee [Member] | Level 3 Inputs | Market And Income Approach Valuation Technique [Member] | Contingent Consideration [Member]
Business Acquisition, Contingent Consideration [Line Items]
Discount rate at which cash flows are discounted (as a percent)	12.00%
Fair value inputs, exit capitalization rate (as a percent)	12.00%

Commitments and Contingencies75

Commitments and Contingencies - Future Minimum Rental Payments (Details) $ in Thousands	Dec. 31, 2016USD ($)
Future minimum rental payments
2,016	$ 1,427
2,017	1,539
2,018	1,577
2,019	1,588
2,020	681
Thereafter	$ 6,336

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Period of service for employees to be eligible to participate in the defined contribution plan	3 months
Discretionary match (as a percent)	50.00%
Maximum percentage of employee's annual salary that the entity can contribute	6.00%
Aggregate matching contribution	$ 0.4	$ 0.2	$ 0.2
Vesting period	3 years

Related Party Transactions (Det

Related Party Transactions (Details) ft² in Millions	Apr. 20, 2011USD ($)property	Dec. 31, 2016USD ($)ft²building	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Related party transactions
Number of buildings owned | building		314
Affiliated Entity [Member]
Related party transactions
Due from related parties		$ 0	$ 100,000
Affiliated Entity [Member] | S T A G Industrial Management L L C
Related party transactions
Annual asset management fee based on the equity investment (as a percent)		1.25%
S T A G Investments I I I L L C | S T A G Investments I I I L L C
Related party transactions
Number of Vacant Real Estate Properties | property	3
Fund II | Affiliated Entity [Member]
Related party transactions
Number of buildings owned | building		7
Net rentable square feet | ft²		2.2
Property Management Fee [Member] | S T A G Investments I I I L L C | Affiliated Entity [Member] | S T A G Industrial Management L L C
Related party transactions
Annual management fee per property	$ 30,000
Administrative Services Fee [Member] | S T A G Investments I I I L L C | Affiliated Entity [Member] | S T A G Industrial Management L L C
Related party transactions
Annual management fee per property	$ 20,000				$ 20,000
Other Income [Member] | Affiliated Entity [Member]
Related party transactions
Asset management fees recognized		$ 200,000	$ 400,000	$ 600,000

Subsequent Events - LTIP and Ou

Subsequent Events - LTIP and Outperformance Program (Details) - 2011 Equity Incentive Plan $ / shares in Units, $ in Thousands	Jan. 06, 2017USD ($)installment$ / sharesshares	Dec. 31, 2016$ / sharesshares	Dec. 31, 2015$ / sharesshares
LTIP Units
Incentive Plans
Granted (in shares)		176,396	323,069
Restricted stock
Incentive Plans
Granted (in shares)		101,289	94,290
Grant date fair value (in dollars per share) | $ / shares		$ 17.98	$ 26.17
Non-recognized Subsequent Event | LTIP Units | Nonemployee, Independent Directors
Incentive Plans
Granted (in shares)	16,836
Non-recognized Subsequent Event | LTIP Units | Executive Officers and Senior Employees
Incentive Plans
Granted (in shares)	109,403
Vesting period (in years)	4 years
Non-recognized Subsequent Event | Restricted stock
Incentive Plans
Grant date fair value (in dollars per share) | $ / shares	$ 24.41
Non-recognized Subsequent Event | Restricted stock | Certain Employees
Incentive Plans
Granted (in shares)	75,001
Number of vesting installments | installment	4
Awarded in 2017 [Member] | Non-recognized Subsequent Event | Performance Shares [Member]
Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	10 years
Value of awards | $	$ 2,900
Granted on January 6, 2017 [Member] | Non-recognized Subsequent Event | LTIP Units
Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value | $	$ 2,900
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	10 years
Weighted Average [Member] | Awarded in 2017 [Member] | Non-recognized Subsequent Event | Performance Shares [Member]
Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	23.00%
Expected dividend yield (as a percent)	6.00%
Risk-free interest rate (as a percent)	1.61%
Weighted Average [Member] | Granted on January 6, 2017 [Member] | Non-recognized Subsequent Event | LTIP Units
Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	23.00%
Expected dividend yield (as a percent)	6.00%
Risk-free interest rate (as a percent)	1.61%

Schedule 2 - Valuation and Qu79

Schedule 2 - Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Receivables and Accrued Rent Reserves - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Valuation and Qualifying Accounts
Beginning of Period	$ 106	$ 104	$ 19
Costs and Expenses	125	190	104
Amounts Written Off	(43)	(188)	(19)
Balance at End of Period	$ 188	$ 106	$ 104

Schedule 3 - Real Estate and 80

Schedule 3 - Real Estate and Accumulated Depreciation - Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real Estate and Accumulated Depreciation
Encumbrances	$ (164,326)
Building and Tenant Improvements (initial cost)	1,673,800
Land	272,162
Costs Capitalized Subsequent to Acquisition and Valuation Provision	63,754
Building & Improvements	1,737,554
Land	272,162
Total	2,009,716	$ 1,711,612	$ 1,415,965	$ 1,079,046
Accumulated Depreciation	(187,413)	(147,917)	$ (105,435)	$ (71,653)
Unamortized balance of historical fair value adjustments	112
Debt Issuance Costs, Net	6,299	6,900
Secured Debt
Real Estate and Accumulated Depreciation
Unamortized balance of historical fair value adjustments	112	447
Debt Issuance Costs, Net	873	$ 1,270
Albion, IN, Q3 2006, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	93
Land	67
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	93
Land	67
Total	160
Accumulated Depreciation	(24)
Albion, IN, Q3 2006, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	932
Land	103
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	932
Land	103
Total	1,035
Accumulated Depreciation	(246)
Albion, IN, Q3 2006, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,107
Land	55
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,107
Land	55
Total	1,162
Accumulated Depreciation	(292)
Albion, IN, Q3 2006, Four
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	970
Land	332
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	970
Land	332
Total	1,302
Accumulated Depreciation	(256)
Albion, IN, Q3 2006, Five
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,397
Land	52
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,397
Land	52
Total	1,449
Accumulated Depreciation	(368)
Albion, IN, Q3 2006, Six
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,528
Land	126
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,528
Land	126
Total	1,654
Accumulated Depreciation	(403)
Kendallville, IN, Q3 2006
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,510
Land	142
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,510
Land	142
Total	1,652
Accumulated Depreciation	(398)
Albion, IN, Q3 2006, Seven
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	710
Land	187
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	710
Land	187
Total	897
Accumulated Depreciation	(187)
Alexandria, MN, Q1 2008
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,855
Land	960
Costs Capitalized Subsequent to Acquisition and Valuation Provision	151
Building & Improvements	6,006
Land	960
Total	6,966
Accumulated Depreciation	(900)
Allentown, PA, Q1 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,336
Land	1,962
Costs Capitalized Subsequent to Acquisition and Valuation Provision	783
Building & Improvements	8,119
Land	1,962
Total	10,081
Accumulated Depreciation	(865)
Appleton, WI, Q3 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,765
Land	495
Costs Capitalized Subsequent to Acquisition and Valuation Provision	360
Building & Improvements	4,125
Land	495
Total	4,620
Accumulated Depreciation	(1,030)
Arlington, TX, Q2 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,374
Land	413
Costs Capitalized Subsequent to Acquisition and Valuation Provision	304
Building & Improvements	2,678
Land	413
Total	3,091
Accumulated Depreciation	(589)
Arlington, TX, Q2 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,151
Land	1,246
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,151
Land	1,246
Total	7,397
Accumulated Depreciation	(837)
Avon, CT, Q2 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,750
Land	336
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,750
Land	336
Total	3,086
Accumulated Depreciation	(369)
Belfast, ME, Q4 2008
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,331
Land	1,883
Costs Capitalized Subsequent to Acquisition and Valuation Provision	487
Building & Improvements	10,818
Land	1,883
Total	12,701
Accumulated Depreciation	(1,641)
Belvidere, IL, Q3 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,176
Land	442
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,176
Land	442
Total	4,618
Accumulated Depreciation	(224)
Belvidere, IL, Q2 2013, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,956
Land	733
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,956
Land	733
Total	4,689
Accumulated Depreciation	(428)
Belvidere, IL, Q2 2013, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,436
Land	1,310
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,436
Land	1,310
Total	4,746
Accumulated Depreciation	(514)
Belvidere, IL, Q2 2013, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,517
Land	538
Costs Capitalized Subsequent to Acquisition and Valuation Provision	114
Building & Improvements	3,631
Land	538
Total	4,169
Accumulated Depreciation	(325)
Belvidere, IL, Q2 2013, Four
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,899
Land	670
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,899
Land	670
Total	7,569
Accumulated Depreciation	(690)
Belvidere, IL, Q2 2013, Five
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,321
Land	668
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,321
Land	668
Total	4,989
Accumulated Depreciation	(493)
Belvidere, IL, Q2 2013, Six
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,730
Land	866
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,730
Land	866
Total	4,596
Accumulated Depreciation	(450)
Belvidere, IL, Q2 2013, Seven
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,808
Land	586
Costs Capitalized Subsequent to Acquisition and Valuation Provision	22
Building & Improvements	2,830
Land	586
Total	3,416
Accumulated Depreciation	(375)
Belvidere, IL, Q2 2013, Eight
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,340
Land	1,542
Costs Capitalized Subsequent to Acquisition and Valuation Provision	552
Building & Improvements	8,892
Land	1,542
Total	10,434
Accumulated Depreciation	(1,043)
Belvidere, IL, Q2 2013, Nine
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	71
Land	216
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	71
Land	216
Total	287
Accumulated Depreciation	(71)
Biddeford, ME, Q1 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,164
Land	1,369
Costs Capitalized Subsequent to Acquisition and Valuation Provision	3,916
Building & Improvements	12,080
Land	1,369
Total	13,449
Accumulated Depreciation	(179)
Boardman, OH, Q4 2007, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,473
Land	282
Costs Capitalized Subsequent to Acquisition and Valuation Provision	773
Building & Improvements	4,246
Land	282
Total	4,528
Accumulated Depreciation	(1,033)
Boardman, OH, Q4 2007, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	841
Land	49
Costs Capitalized Subsequent to Acquisition and Valuation Provision	149
Building & Improvements	990
Land	49
Total	1,039
Accumulated Depreciation	(531)
Brooklyn Park, MN, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	11,988
Land	1,926
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	11,988
Land	1,926
Total	13,914
Accumulated Depreciation	(33)
Buena Vista, VA, Q3 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,500
Land	534
Costs Capitalized Subsequent to Acquisition and Valuation Provision	635
Building & Improvements	3,135
Land	534
Total	3,669
Accumulated Depreciation	(417)
Buffalo, NY, Q2 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,924
Land	146
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,924
Land	146
Total	3,070
Accumulated Depreciation	(373)
Burlington, NJ, Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	42,652
Land	5,135
Costs Capitalized Subsequent to Acquisition and Valuation Provision	55
Building & Improvements	42,707
Land	5,135
Total	47,842
Accumulated Depreciation	(1,980)
Burlington, NJ, Q1 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	19,577
Land	4,030
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,231
Building & Improvements	20,808
Land	4,030
Total	24,838
Accumulated Depreciation	(1,268)
Calhoun, GA, Q2 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,764
Land	388
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,764
Land	388
Total	3,152
Accumulated Depreciation	(216)
Camarillo, CA, Q4 2014, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,785
Land	7,242
Costs Capitalized Subsequent to Acquisition and Valuation Provision	237
Building & Improvements	11,022
Land	7,242
Total	18,264
Accumulated Depreciation	(943)
Camarillo, CA, Q4 2014, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	19,857
Land	7,989
Costs Capitalized Subsequent to Acquisition and Valuation Provision	25
Building & Improvements	19,882
Land	7,989
Total	27,871
Accumulated Depreciation	(1,589)
Catoosa, OK, Q3 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,937
Land	0
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,937
Land	0
Total	3,937
Accumulated Depreciation	(450)
Cedar Hill, TX, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	11,971
Land	4,066
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	11,971
Land	4,066
Total	16,037
Accumulated Depreciation	(222)
Charlotte, NC, Q3 2010, One
Real Estate and Accumulated Depreciation
Encumbrances	(10,291)
Building and Tenant Improvements (initial cost)	9,461
Land	3,535
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,197
Building & Improvements	10,658
Land	3,535
Total	14,193
Accumulated Depreciation	(2,199)
Charlotte, NC, Q3 2014, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,443
Land	805
Costs Capitalized Subsequent to Acquisition and Valuation Provision	4
Building & Improvements	2,447
Land	805
Total	3,252
Accumulated Depreciation	(244)
Charlotte, NC, Q3 2014, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,554
Land	386
Costs Capitalized Subsequent to Acquisition and Valuation Provision	19
Building & Improvements	3,573
Land	386
Total	3,959
Accumulated Depreciation	(341)
Charlotte, NC, Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,961
Land	515
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,961
Land	515
Total	4,476
Accumulated Depreciation	(157)
Charlotte, NC, Q2 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,445
Land	678
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,445
Land	678
Total	5,123
Accumulated Depreciation	(112)
Chattanooga, TN, Q3 2015, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,321
Land	187
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,321
Land	187
Total	2,508
Accumulated Depreciation	(155)
Chattanooga, TN, Q3 2015, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,730
Land	380
Costs Capitalized Subsequent to Acquisition and Valuation Provision	13
Building & Improvements	4,743
Land	380
Total	5,123
Accumulated Depreciation	(316)
Chattanooga, TN, Q3 2015, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,459
Land	424
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,459
Land	424
Total	8,883
Accumulated Depreciation	(645)
Cheektowaga, NY, Q3 2008
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,757
Land	216
Costs Capitalized Subsequent to Acquisition and Valuation Provision	793
Building & Improvements	3,550
Land	216
Total	3,766
Accumulated Depreciation	(599)
Chesterfield, MI, Q2 2007, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,169
Land	207
Costs Capitalized Subsequent to Acquisition and Valuation Provision	62
Building & Improvements	1,231
Land	207
Total	1,438
Accumulated Depreciation	(390)
Chesterfield, MI, Q2 2007, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	798
Land	150
Costs Capitalized Subsequent to Acquisition and Valuation Provision	89
Building & Improvements	887
Land	150
Total	1,037
Accumulated Depreciation	(206)
Chesterfield, MI, Q2 2007, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	802
Land	151
Costs Capitalized Subsequent to Acquisition and Valuation Provision	224
Building & Improvements	1,026
Land	151
Total	1,177
Accumulated Depreciation	(261)
Chesterfield, MI, Q2 2007, Four
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,304
Land	942
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,952
Building & Improvements	7,256
Land	942
Total	8,198
Accumulated Depreciation	(1,821)
Chester, VA, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,402
Land	775
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,402
Land	775
Total	4,177
Accumulated Depreciation	(448)
Chicopee, MA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,867
Land	504
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,867
Land	504
Total	6,371
Accumulated Depreciation	(825)
Chippewa Falls, WI, Q4 2011, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,303
Land	133
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,303
Land	133
Total	2,436
Accumulated Depreciation	(347)
Chippewa Falls, WI, Q4 2011, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	544
Land	44
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	544
Land	44
Total	588
Accumulated Depreciation	(80)
Cincinnati, OH, Q3 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,637
Land	238
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,412
Building & Improvements	5,049
Land	238
Total	5,287
Accumulated Depreciation	(1,785)
Cleveland, TN, Q2 2011
Real Estate and Accumulated Depreciation
Encumbrances	(2,464)
Building and Tenant Improvements (initial cost)	3,161
Land	554
Costs Capitalized Subsequent to Acquisition and Valuation Provision	84
Building & Improvements	3,245
Land	554
Total	3,799
Accumulated Depreciation	(543)
Clinton, TN, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,302
Land	403
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,302
Land	403
Total	3,705
Accumulated Depreciation	(307)
Columbus, OH, Q1 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,123
Land	489
Costs Capitalized Subsequent to Acquisition and Valuation Provision	167
Building & Improvements	3,290
Land	489
Total	3,779
Accumulated Depreciation	(433)
Columbia, SC, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,171
Land	783
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,171
Land	783
Total	5,954
Accumulated Depreciation	(122)
West Columbia, SC, Q1 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,988
Land	715
Costs Capitalized Subsequent to Acquisition and Valuation Provision	401
Building & Improvements	7,389
Land	715
Total	8,104
Accumulated Depreciation	(792)
Dallas, GA, Q3 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,712
Land	475
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,712
Land	475
Total	2,187
Accumulated Depreciation	(252)
LaGrange, GA, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,175
Land	240
Costs Capitalized Subsequent to Acquisition and Valuation Provision	331
Building & Improvements	3,506
Land	240
Total	3,746
Accumulated Depreciation	(619)
Danville, KY, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	11,814
Land	965
Costs Capitalized Subsequent to Acquisition and Valuation Provision	3,644
Building & Improvements	15,458
Land	965
Total	16,423
Accumulated Depreciation	(2,273)
Daytona Beach, FL, Q1 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	875
Land	1,237
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,704
Building & Improvements	2,579
Land	1,237
Total	3,816
Accumulated Depreciation	(630)
Dayton, OH, Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,896
Land	331
Costs Capitalized Subsequent to Acquisition and Valuation Provision	375
Building & Improvements	6,271
Land	331
Total	6,602
Accumulated Depreciation	(319)
Deforest, WI, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,402
Land	1,131
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,402
Land	1,131
Total	6,533
Accumulated Depreciation	(20)
DeKalb, IL, Q1 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,568
Land	489
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,568
Land	489
Total	5,057
Accumulated Depreciation	(530)
De Pere, WI, Q3 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,144
Land	525
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,144
Land	525
Total	6,669
Accumulated Depreciation	(861)
Duncan, SC, Q3 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	11,258
Land	1,002
Costs Capitalized Subsequent to Acquisition and Valuation Provision	726
Building & Improvements	11,984
Land	1,002
Total	12,986
Accumulated Depreciation	(1,635)
Duncan, SC, Q3 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,739
Land	709
Costs Capitalized Subsequent to Acquisition and Valuation Provision	71
Building & Improvements	6,810
Land	709
Total	7,519
Accumulated Depreciation	(833)
Durham, NC, Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,700
Land	753
Costs Capitalized Subsequent to Acquisition and Valuation Provision	31
Building & Improvements	2,731
Land	753
Total	3,484
Accumulated Depreciation	(161)
Earth City, MO, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,806
Land	1,123
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,806
Land	1,123
Total	3,929
Accumulated Depreciation	(25)
Edgefield, SC, Q2 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	938
Land	220
Costs Capitalized Subsequent to Acquisition and Valuation Provision	750
Building & Improvements	1,688
Land	220
Total	1,908
Accumulated Depreciation	(255)
Elizabethtown, PA, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,363
Land	1,000
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,363
Land	1,000
Total	6,363
Accumulated Depreciation	(414)
Elkhart, IN, Q3, 2007, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	210
Land	25
Costs Capitalized Subsequent to Acquisition and Valuation Provision	143
Building & Improvements	353
Land	25
Total	378
Accumulated Depreciation	(58)
Elkhart, IN, Q3 2007, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,567
Land	422
Costs Capitalized Subsequent to Acquisition and Valuation Provision	452
Building & Improvements	4,019
Land	422
Total	4,441
Accumulated Depreciation	(931)
El Paso, TX, Q3 2014, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,099
Land	1,248
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	9,099
Land	1,248
Total	10,347
Accumulated Depreciation	(733)
El Paso, TX, Q3 2014, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,905
Land	1,124
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	7,905
Land	1,124
Total	9,029
Accumulated Depreciation	(767)
El Paso, TX, Q3 2014, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	14,159
Land	1,854
Costs Capitalized Subsequent to Acquisition and Valuation Provision	91
Building & Improvements	14,250
Land	1,854
Total	16,104
Accumulated Depreciation	(1,205)
El Paso, TX, Q3 2014, Four
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,897
Land	1,581
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	9,897
Land	1,581
Total	11,478
Accumulated Depreciation	(767)
El Paso, TX, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,893
Land	1,136
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,893
Land	1,136
Total	7,029
Accumulated Depreciation	(340)
El Paso, TX, Q4, 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,096
Land	0
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,006
Building & Improvements	4,102
Land	0
Total	4,102
Accumulated Depreciation	(567)
Erlanger, KY, Q1 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,826
Land	635
Costs Capitalized Subsequent to Acquisition and Valuation Provision	6
Building & Improvements	3,832
Land	635
Total	4,467
Accumulated Depreciation	(132)
East Troy, WI, Q2 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,962
Land	304
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,962
Land	304
Total	5,266
Accumulated Depreciation	(382)
East Windsor, Q4, 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,711
Land	400
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,711
Land	400
Total	6,111
Accumulated Depreciation	(22)
East Windsor, CT, Q1 2012
Real Estate and Accumulated Depreciation
Encumbrances	(3,073)
Building and Tenant Improvements (initial cost)	4,713
Land	348
Costs Capitalized Subsequent to Acquisition and Valuation Provision	528
Building & Improvements	5,241
Land	348
Total	5,589
Accumulated Depreciation	(1,088)
Fairborn, OH, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,650
Land	867
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,650
Land	867
Total	6,517
Accumulated Depreciation	(477)
Fairfield, OH, Q1 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,842
Land	948
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,842
Land	948
Total	3,790
Accumulated Depreciation	(142)
Farmington, NY, Q3 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,342
Land	410
Costs Capitalized Subsequent to Acquisition and Valuation Provision	20
Building & Improvements	5,362
Land	410
Total	5,772
Accumulated Depreciation	(1,312)
Forest Park1, GA, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,527
Land	1,733
Costs Capitalized Subsequent to Acquisition and Valuation Provision	35
Building & Improvements	9,562
Land	1,733
Total	11,295
Accumulated Depreciation	(142)
Forest Park2, GA, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,189
Land	1,715
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,189
Land	1,715
Total	9,904
Accumulated Depreciation	(106)
Fort Wayne, IN, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,142
Land	112
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,142
Land	112
Total	3,254
Accumulated Depreciation	(245)
Franklin, IN, Q2 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	12,042
Land	2,479
Costs Capitalized Subsequent to Acquisition and Valuation Provision	13
Building & Improvements	12,055
Land	2,479
Total	14,534
Accumulated Depreciation	(1,940)
Fort Worth, TX, Q2 2011
Real Estate and Accumulated Depreciation
Encumbrances	(1,889)
Building and Tenant Improvements (initial cost)	2,965
Land	389
Costs Capitalized Subsequent to Acquisition and Valuation Provision	709
Building & Improvements	3,674
Land	389
Total	4,063
Accumulated Depreciation	(563)
Gahanna, OH, Q4 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,191
Land	1,265
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,258
Building & Improvements	5,449
Land	1,265
Total	6,714
Accumulated Depreciation	(1,055)
Gardiner, ME, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,983
Land	948
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,983
Land	948
Total	9,931
Accumulated Depreciation	(141)
Garland, TX, Q2 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,425
Land	1,344
Costs Capitalized Subsequent to Acquisition and Valuation Provision	294
Building & Improvements	5,719
Land	1,344
Total	7,063
Accumulated Depreciation	(644)
Garland, TX Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,058
Land	1,542
Costs Capitalized Subsequent to Acquisition and Valuation Provision	536
Building & Improvements	6,594
Land	1,542
Total	8,136
Accumulated Depreciation	(296)
Germantown, WI, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,035
Land	1,186
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,035
Land	1,186
Total	7,221
Accumulated Depreciation	(660)
Gloversville, NY, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(736)
Building and Tenant Improvements (initial cost)	1,299
Land	117
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,299
Land	117
Total	1,416
Accumulated Depreciation	(169)
Gloversville, NY, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,189)
Building and Tenant Improvements (initial cost)	2,613
Land	151
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,613
Land	151
Total	2,764
Accumulated Depreciation	(359)
Gloversville, NY, Q4 2012, Four
Real Estate and Accumulated Depreciation
Encumbrances	(849)
Building and Tenant Improvements (initial cost)	1,514
Land	154
Costs Capitalized Subsequent to Acquisition and Valuation Provision	13
Building & Improvements	1,527
Land	154
Total	1,681
Accumulated Depreciation	(220)
Golden, CO, Q1 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,164
Land	742
Costs Capitalized Subsequent to Acquisition and Valuation Provision	67
Building & Improvements	6,231
Land	742
Total	6,973
Accumulated Depreciation	(669)
Goshen, IN, Q3 2010
Real Estate and Accumulated Depreciation
Encumbrances	(5,224)
Building and Tenant Improvements (initial cost)	6,509
Land	1,442
Costs Capitalized Subsequent to Acquisition and Valuation Provision	415
Building & Improvements	6,924
Land	1,442
Total	8,366
Accumulated Depreciation	(1,186)
Grand Junction, CO, Q3 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,002
Land	314
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,002
Land	314
Total	4,316
Accumulated Depreciation	(196)
Grand Rapids, MI, Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,532
Land	169
Costs Capitalized Subsequent to Acquisition and Valuation Provision	5
Building & Improvements	7,537
Land	169
Total	7,706
Accumulated Depreciation	(383)
Graniteville, SC, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,389
Land	1,629
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,389
Land	1,629
Total	10,018
Accumulated Depreciation	(228)
Greenwood, SC, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(1,529)
Building and Tenant Improvements (initial cost)	1,848
Land	166
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,848
Land	166
Total	2,014
Accumulated Depreciation	(236)
Greenwood, SC, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,302)
Building and Tenant Improvements (initial cost)	1,232
Land	169
Costs Capitalized Subsequent to Acquisition and Valuation Provision	4
Building & Improvements	1,236
Land	169
Total	1,405
Accumulated Depreciation	(198)
Greenville, SC, Q1 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,379
Land	309
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,379
Land	309
Total	3,688
Accumulated Depreciation	(220)
Greer, SC Q3 2015, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,434
Land	129
Costs Capitalized Subsequent to Acquisition and Valuation Provision	144
Building & Improvements	1,578
Land	129
Total	1,707
Accumulated Depreciation	(78)
Greer, SC Q3 2015, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,748
Land	128
Costs Capitalized Subsequent to Acquisition and Valuation Provision	39
Building & Improvements	1,787
Land	128
Total	1,915
Accumulated Depreciation	(95)
Greer, SC Q3 2015, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	471
Land	153
Costs Capitalized Subsequent to Acquisition and Valuation Provision	10
Building & Improvements	481
Land	153
Total	634
Accumulated Depreciation	(31)
Greer, SC Q3 2015, Four
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,016
Land	306
Costs Capitalized Subsequent to Acquisition and Valuation Provision	99
Building & Improvements	3,115
Land	306
Total	3,421
Accumulated Depreciation	(180)
Fountain Inn, SC, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,438
Land	719
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,438
Land	719
Total	5,157
Accumulated Depreciation	(152)
Grove City, OH, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,974
Land	730
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,974
Land	730
Total	4,704
Accumulated Depreciation	(60)
Gurnee, IL, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	11,380
Land	1,716
Costs Capitalized Subsequent to Acquisition and Valuation Provision	19
Building & Improvements	11,399
Land	1,716
Total	13,115
Accumulated Depreciation	(845)
Gurnee, IL, Q3 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,902
Land	1,337
Costs Capitalized Subsequent to Acquisition and Valuation Provision	468
Building & Improvements	5,370
Land	1,337
Total	6,707
Accumulated Depreciation	(935)
Hampstead, MD, Q3 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	34,969
Land	780
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	34,969
Land	780
Total	35,749
Accumulated Depreciation	(3,588)
Harrisonburg, VA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	11,179
Land	1,455
Costs Capitalized Subsequent to Acquisition and Valuation Provision	144
Building & Improvements	11,323
Land	1,455
Total	12,778
Accumulated Depreciation	(1,285)
Hartland, WI, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,634
Land	1,526
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,634
Land	1,526
Total	6,160
Accumulated Depreciation	(36)
Harvard, IL, Q4 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,980
Land	1,157
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,980
Land	1,157
Total	4,137
Accumulated Depreciation	(637)
Hazelwood, MO, Q3 2011
Real Estate and Accumulated Depreciation
Encumbrances	(5,384)
Building and Tenant Improvements (initial cost)	5,815
Land	1,382
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,207
Building & Improvements	7,022
Land	1,382
Total	8,404
Accumulated Depreciation	(1,292)
Hebron, KY, Q2 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,601
Land	370
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,601
Land	370
Total	4,971
Accumulated Depreciation	(446)
Holland, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(3,159)
Building and Tenant Improvements (initial cost)	3,475
Land	279
Costs Capitalized Subsequent to Acquisition and Valuation Provision	60
Building & Improvements	3,535
Land	279
Total	3,814
Accumulated Depreciation	(580)
Holland, MI, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,176
Land	224
Costs Capitalized Subsequent to Acquisition and Valuation Provision	229
Building & Improvements	2,405
Land	224
Total	2,629
Accumulated Depreciation	(925)
Houston, TX, Q2 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,790
Land	2,255
Costs Capitalized Subsequent to Acquisition and Valuation Provision	9
Building & Improvements	7,799
Land	2,255
Total	10,054
Accumulated Depreciation	(886)
Houston, TX, Q2 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,906
Land	1,428
Costs Capitalized Subsequent to Acquisition and Valuation Provision	17
Building & Improvements	4,923
Land	1,428
Total	6,351
Accumulated Depreciation	(594)
Houston, TX, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,019
Land	565
Costs Capitalized Subsequent to Acquisition and Valuation Provision	750
Building & Improvements	5,769
Land	565
Total	6,334
Accumulated Depreciation	(671)
Houston, TX, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,448
Land	2,546
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,448
Land	2,546
Total	10,994
Accumulated Depreciation	(53)
Huntersville, NC, Q3 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,123
Land	1,061
Costs Capitalized Subsequent to Acquisition and Valuation Provision	39
Building & Improvements	3,162
Land	1,061
Total	4,223
Accumulated Depreciation	(390)
Idaho Falls, ID, Q2 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,735
Land	356
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,735
Land	356
Total	3,091
Accumulated Depreciation	(380)
Independence, VA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(1,421)
Building and Tenant Improvements (initial cost)	2,212
Land	226
Costs Capitalized Subsequent to Acquisition and Valuation Provision	83
Building & Improvements	2,295
Land	226
Total	2,521
Accumulated Depreciation	(415)
Itasca, IL, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	12,216
Land	2,428
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	12,216
Land	2,428
Total	14,644
Accumulated Depreciation	(95)
Jackson, TN, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,374
Land	230
Costs Capitalized Subsequent to Acquisition and Valuation Provision	213
Building & Improvements	2,587
Land	230
Total	2,817
Accumulated Depreciation	(374)
Janesville, WI, Q4 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	17,477
Land	828
Costs Capitalized Subsequent to Acquisition and Valuation Provision	245
Building & Improvements	17,722
Land	828
Total	18,550
Accumulated Depreciation	(2,115)
Jefferson City, TN, Q2 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,494
Land	1,350
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,494
Land	1,350
Total	9,844
Accumulated Depreciation	(1,365)
Johnstown, NY, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(736)
Building and Tenant Improvements (initial cost)	1,304
Land	178
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,304
Land	178
Total	1,482
Accumulated Depreciation	(184)
Johnstown, NY, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,076)
Building and Tenant Improvements (initial cost)	1,592
Land	216
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,592
Land	216
Total	1,808
Accumulated Depreciation	(185)
Johnstown, NY, Q4 2012, Three
Real Estate and Accumulated Depreciation
Encumbrances	(878)
Building and Tenant Improvements (initial cost)	978
Land	151
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	978
Land	151
Total	1,129
Accumulated Depreciation	(171)
Johnstown, NY, Q4 2012, Four
Real Estate and Accumulated Depreciation
Encumbrances	(1,642)
Building and Tenant Improvements (initial cost)	1,467
Land	140
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,467
Land	140
Total	1,607
Accumulated Depreciation	(208)
Kansas City, MO, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,539
Land	703
Costs Capitalized Subsequent to Acquisition and Valuation Provision	92
Building & Improvements	5,631
Land	703
Total	6,334
Accumulated Depreciation	(584)
Kenosha, WI, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,991
Land	797
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,991
Land	797
Total	4,788
Accumulated Depreciation	(36)
Langhorne, PA, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,372
Land	1,884
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,372
Land	1,884
Total	8,256
Accumulated Depreciation	(61)
Kentwood, MI, Q2 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,478
Land	407
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,478
Land	407
Total	2,885
Accumulated Depreciation	(309)
Knoxville, TN, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,201
Land	447
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,201
Land	447
Total	3,648
Accumulated Depreciation	(263)
Lafayette, IN, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(1,217)
Building and Tenant Improvements (initial cost)	2,205
Land	295
Costs Capitalized Subsequent to Acquisition and Valuation Provision	36
Building & Improvements	2,241
Land	295
Total	2,536
Accumulated Depreciation	(267)
Lafayette, IN, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(2,067)
Building and Tenant Improvements (initial cost)	3,554
Land	410
Costs Capitalized Subsequent to Acquisition and Valuation Provision	38
Building & Improvements	3,592
Land	410
Total	4,002
Accumulated Depreciation	(540)
Lafayette, IN, Q4 2012, Three
Real Estate and Accumulated Depreciation
Encumbrances	(4,246)
Building and Tenant Improvements (initial cost)	8,135
Land	906
Costs Capitalized Subsequent to Acquisition and Valuation Provision	252
Building & Improvements	8,387
Land	906
Total	9,293
Accumulated Depreciation	(1,182)
Lancaster, PA, Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,480
Land	1,520
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,480
Land	1,520
Total	7,000
Accumulated Depreciation	(527)
Langhorne1, PA, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,868
Land	1,370
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,868
Land	1,370
Total	5,238
Accumulated Depreciation	(86)
Langhorne2, PA, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,105
Land	1,308
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,105
Land	1,308
Total	4,413
Accumulated Depreciation	(84)
Lansing, MI, Q2 2011
Real Estate and Accumulated Depreciation
Encumbrances	(7,263)
Building and Tenant Improvements (initial cost)	8,164
Land	501
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,164
Land	501
Total	8,665
Accumulated Depreciation	(1,353)
Lansing, MI, Q1 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,077
Land	580
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,077
Land	580
Total	4,657
Accumulated Depreciation	(564)
Lansing, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(5,662)
Building and Tenant Improvements (initial cost)	7,162
Land	429
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	7,162
Land	429
Total	7,591
Accumulated Depreciation	(936)
Lansing, MI, Q4 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,209
Land	907
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,209
Land	907
Total	6,116
Accumulated Depreciation	(619)
Laurens, SC, Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,254
Land	151
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,254
Land	151
Total	4,405
Accumulated Depreciation	(181)
Lenexa, KS, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,610
Land	2,368
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	7,610
Land	2,368
Total	9,978
Accumulated Depreciation	(938)
Lewiston, ME, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,515
Land	173
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,318
Building & Improvements	6,833
Land	173
Total	7,006
Accumulated Depreciation	(1,769)
Lexington, NC, Q1 2008
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,968
Land	232
Costs Capitalized Subsequent to Acquisition and Valuation Provision	633
Building & Improvements	4,601
Land	232
Total	4,833
Accumulated Depreciation	(717)
Libertyville, IL, Q3 2015, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,455
Land	421
Costs Capitalized Subsequent to Acquisition and Valuation Provision	80
Building & Improvements	6,535
Land	421
Total	6,956
Accumulated Depreciation	(377)
Libertyville, IL, Q3 2015, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	770
Land	143
Costs Capitalized Subsequent to Acquisition and Valuation Provision	9
Building & Improvements	779
Land	143
Total	922
Accumulated Depreciation	(155)
Londonderry, NH, Q1 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,683
Land	730
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,683
Land	730
Total	7,413
Accumulated Depreciation	(767)
Longmont, CO, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,647
Land	1,529
Costs Capitalized Subsequent to Acquisition and Valuation Provision	350
Building & Improvements	9,997
Land	1,529
Total	11,526
Accumulated Depreciation	(859)
Loudon, TN, Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,751
Land	170
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,751
Land	170
Total	3,921
Accumulated Depreciation	(181)
Louisville, KY, Q3 2011, One
Real Estate and Accumulated Depreciation
Encumbrances	(3,354)
Building and Tenant Improvements (initial cost)	3,875
Land	386
Costs Capitalized Subsequent to Acquisition and Valuation Provision	520
Building & Improvements	4,395
Land	386
Total	4,781
Accumulated Depreciation	(866)
Louisville, KY, Q3 2011, Two
Real Estate and Accumulated Depreciation
Encumbrances	(5,351)
Building and Tenant Improvements (initial cost)	6,182
Land	616
Costs Capitalized Subsequent to Acquisition and Valuation Provision	632
Building & Improvements	6,814
Land	616
Total	7,430
Accumulated Depreciation	(1,336)
Macedonia, OH, Q3 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,195
Land	1,690
Costs Capitalized Subsequent to Acquisition and Valuation Provision	10
Building & Improvements	8,205
Land	1,690
Total	9,895
Accumulated Depreciation	(487)
Machesney Park, IL, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,742
Land	300
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,742
Land	300
Total	4,042
Accumulated Depreciation	(261)
Madison, TN, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	(5,688)
Building and Tenant Improvements (initial cost)	6,159
Land	1,655
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,681
Building & Improvements	7,840
Land	1,655
Total	9,495
Accumulated Depreciation	(1,488)
Malden, MA, Q2 2007, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,817
Land	366
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,817
Land	366
Total	3,183
Accumulated Depreciation	(691)
Malden, MA, Q2 2007, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,961
Land	507
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,961
Land	507
Total	4,468
Accumulated Depreciation	(972)
Marion, IA, Q1 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,257
Land	691
Costs Capitalized Subsequent to Acquisition and Valuation Provision	49
Building & Improvements	2,306
Land	691
Total	2,997
Accumulated Depreciation	(338)
Marion, IN, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(2,887)
Building and Tenant Improvements (initial cost)	2,934
Land	243
Costs Capitalized Subsequent to Acquisition and Valuation Provision	563
Building & Improvements	3,497
Land	243
Total	3,740
Accumulated Depreciation	(391)
Marshall, MI, Q2 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,051
Land	199
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,051
Land	199
Total	1,250
Accumulated Depreciation	(181)
Mascot, TN, Q1 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,228
Land	284
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,228
Land	284
Total	3,512
Accumulated Depreciation	(178)
Mascot, TN, Q4 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,452
Land	385
Costs Capitalized Subsequent to Acquisition and Valuation Provision	65
Building & Improvements	3,517
Land	385
Total	3,902
Accumulated Depreciation	(525)
Salem, OH, Q3 2006
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,674
Land	858
Costs Capitalized Subsequent to Acquisition and Valuation Provision	252
Building & Improvements	7,926
Land	858
Total	8,784
Accumulated Depreciation	(1,761)
Mason, OH, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,730
Land	673
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,730
Land	673
Total	5,403
Accumulated Depreciation	(476)
Mayville, WI, Q3 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,118
Land	547
Costs Capitalized Subsequent to Acquisition and Valuation Provision	330
Building & Improvements	4,448
Land	547
Total	4,995
Accumulated Depreciation	(1,142)
Mebane, NC, Q3 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,570
Land	481
Costs Capitalized Subsequent to Acquisition and Valuation Provision	457
Building & Improvements	5,027
Land	481
Total	5,508
Accumulated Depreciation	(596)
Mebane, NC, Q3 2014, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,148
Land	443
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,148
Land	443
Total	4,591
Accumulated Depreciation	(548)
Mebane, NC, Q4 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,999
Land	358
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,999
Land	358
Total	5,357
Accumulated Depreciation	(577)
Mechanicsburg, PA, Q3 2014, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,172
Land	1,482
Costs Capitalized Subsequent to Acquisition and Valuation Provision	635
Building & Improvements	5,807
Land	1,482
Total	7,289
Accumulated Depreciation	(648)
Mechanicsburg, PA, Q3 2014, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,144
Land	1,800
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	7,144
Land	1,800
Total	8,944
Accumulated Depreciation	(654)
New Kingston, PA, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,687
Land	2,041
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,687
Land	2,041
Total	10,728
Accumulated Depreciation	(786)
Mechanicsburg, PA, Q3 2014, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,008
Land	1,452
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,008
Land	1,452
Total	9,460
Accumulated Depreciation	(719)
Milwaukee, WI, Q3 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,090
Land	456
Costs Capitalized Subsequent to Acquisition and Valuation Provision	46
Building & Improvements	4,136
Land	456
Total	4,592
Accumulated Depreciation	(978)
Montgomery, AL, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,523
Land	418
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	7,523
Land	418
Total	7,941
Accumulated Depreciation	(25)
Montgomery, IL, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	12,485
Land	2,190
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,755
Building & Improvements	14,240
Land	2,190
Total	16,430
Accumulated Depreciation	(1,573)
Mooresville, NC, Q1 2011
Real Estate and Accumulated Depreciation
Encumbrances	(5,888)
Building and Tenant Improvements (initial cost)	7,411
Land	701
Costs Capitalized Subsequent to Acquisition and Valuation Provision	216
Building & Improvements	7,627
Land	701
Total	8,328
Accumulated Depreciation	(1,312)
Mountain Home, NC, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,472
Land	523
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,472
Land	523
Total	2,995
Accumulated Depreciation	(230)
Murfreesboro, TN, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,863
Land	722
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,863
Land	722
Total	3,585
Accumulated Depreciation	(338)
Nashua, NH, Q1 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,682
Land	1,431
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,682
Land	1,431
Total	10,113
Accumulated Depreciation	(942)
Nashville, TN, Q3 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,601
Land	547
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,601
Land	547
Total	4,148
Accumulated Depreciation	(391)
Newark, DE, Q4 2007, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,478
Land	197
Costs Capitalized Subsequent to Acquisition and Valuation Provision	392
Building & Improvements	1,870
Land	197
Total	2,067
Accumulated Depreciation	(480)
Newark, DE, Q4 2007, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,891
Land	232
Costs Capitalized Subsequent to Acquisition and Valuation Provision	194
Building & Improvements	2,085
Land	232
Total	2,317
Accumulated Depreciation	(612)
New Berlin, WI, Q3 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,500
Land	1,068
Costs Capitalized Subsequent to Acquisition and Valuation Provision	141
Building & Improvements	6,641
Land	1,068
Total	7,709
Accumulated Depreciation	(886)
New Castle, DE, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	17,767
Land	2,616
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	17,767
Land	2,616
Total	20,383
Accumulated Depreciation	(338)
New Hope, MN, Q3 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,970
Land	1,919
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,970
Land	1,919
Total	3,889
Accumulated Depreciation	(345)
Lopatcong, NJ, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,154
Land	1,554
Costs Capitalized Subsequent to Acquisition and Valuation Provision	193
Building & Improvements	9,347
Land	1,554
Total	10,901
Accumulated Depreciation	(476)
Piscataway, NJ, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,655
Land	640
Costs Capitalized Subsequent to Acquisition and Valuation Provision	620
Building & Improvements	6,275
Land	640
Total	6,915
Accumulated Depreciation	(1,480)
Newton, NC, Q2 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,814
Land	732
Costs Capitalized Subsequent to Acquisition and Valuation Provision	86
Building & Improvements	3,900
Land	732
Total	4,632
Accumulated Depreciation	(573)
North Haven, CT, Q1 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	39,911
Land	4,086
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,384
Building & Improvements	41,295
Land	4,086
Total	45,381
Accumulated Depreciation	(3,132)
North Jackson, OH, Q4 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,427
Land	1,528
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,427
Land	1,528
Total	5,955
Accumulated Depreciation	(469)
North Jackson, OH, Q4 2011
Real Estate and Accumulated Depreciation
Encumbrances	(7,435)
Building and Tenant Improvements (initial cost)	5,795
Land	486
Costs Capitalized Subsequent to Acquisition and Valuation Provision	170
Building & Improvements	5,965
Land	486
Total	6,451
Accumulated Depreciation	(734)
Norcross, GA, Q2 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,586
Land	1,589
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,586
Land	1,589
Total	4,175
Accumulated Depreciation	(132)
Norton, MA, Q3 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,740
Land	2,839
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,740
Land	2,839
Total	9,579
Accumulated Depreciation	(1,192)
Novi, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(2,774)
Building and Tenant Improvements (initial cost)	3,879
Land	252
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,879
Land	252
Total	4,131
Accumulated Depreciation	(659)
Novi, MI, Q3 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,035
Land	626
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,035
Land	626
Total	6,661
Accumulated Depreciation	(310)
Oakwood Village, OH, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,091
Land	343
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,091
Land	343
Total	3,434
Accumulated Depreciation	(254)
Ocala, FL, Q1 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	13,296
Land	731
Costs Capitalized Subsequent to Acquisition and Valuation Provision	952
Building & Improvements	14,248
Land	731
Total	14,979
Accumulated Depreciation	(1,409)
O'fallen, MO, Q3 2010
Real Estate and Accumulated Depreciation
Encumbrances	(2,634)
Building and Tenant Improvements (initial cost)	2,676
Land	1,242
Costs Capitalized Subsequent to Acquisition and Valuation Provision	266
Building & Improvements	2,942
Land	1,242
Total	4,184
Accumulated Depreciation	(500)
O'hara, PA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(15,909)
Building and Tenant Improvements (initial cost)	18,875
Land	1,435
Costs Capitalized Subsequent to Acquisition and Valuation Provision	4,999
Building & Improvements	23,874
Land	1,435
Total	25,309
Accumulated Depreciation	(3,036)
Oklahoma City, OK, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,211
Land	746
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,211
Land	746
Total	2,957
Accumulated Depreciation	(23)
Oklahoma City, OK, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,199
Land	1,614
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,354
Building & Improvements	10,553
Land	1,614
Total	12,167
Accumulated Depreciation	(488)
Olathe, KS, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	20,763
Land	2,431
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	20,763
Land	2,431
Total	23,194
Accumulated Depreciation	(195)
Orlando, FL, Q4 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,839
Land	1,339
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,839
Land	1,339
Total	6,178
Accumulated Depreciation	(588)
Orlando, FL, Q2 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,996
Land	721
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,996
Land	721
Total	2,717
Accumulated Depreciation	(292)
Pensacola, FL, Q4 2007, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,989
Land	145
Costs Capitalized Subsequent to Acquisition and Valuation Provision	111
Building & Improvements	3,100
Land	145
Total	3,245
Accumulated Depreciation	(1,215)
Phenix City, AL, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(1,585)
Building and Tenant Improvements (initial cost)	1,493
Land	276
Costs Capitalized Subsequent to Acquisition and Valuation Provision	140
Building & Improvements	1,633
Land	276
Total	1,909
Accumulated Depreciation	(249)
Phoenix, AZ, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,770
Land	1,653
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,770
Land	1,653
Total	7,423
Accumulated Depreciation	(340)
Piedmont, SC, Q3 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,152
Land	231
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,152
Land	231
Total	4,383
Accumulated Depreciation	(216)
Piedmont, SC, Q3 2015, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,127
Land	158
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,127
Land	158
Total	2,285
Accumulated Depreciation	(115)
Piedmont, SC, Q3 2015, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,302
Land	204
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,302
Land	204
Total	2,506
Accumulated Depreciation	(195)
Pineville, NC, Q2, 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,380
Land	392
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,380
Land	392
Total	1,772
Accumulated Depreciation	(227)
Plymouth, MI, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,670
Land	365
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,670
Land	365
Total	5,035
Accumulated Depreciation	(339)
Pocatello, ID, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,472
Land	399
Costs Capitalized Subsequent to Acquisition and Valuation Provision	135
Building & Improvements	3,607
Land	399
Total	4,006
Accumulated Depreciation	(1,064)
Portage, IN, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,416
Land	0
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,416
Land	0
Total	5,416
Accumulated Depreciation	(613)
Portland, TN, Q1 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,353
Land	1,662
Costs Capitalized Subsequent to Acquisition and Valuation Provision	66
Building & Improvements	8,419
Land	1,662
Total	10,081
Accumulated Depreciation	(1,387)
Portland, ME, Q1 2012
Real Estate and Accumulated Depreciation
Encumbrances	(2,853)
Building and Tenant Improvements (initial cost)	3,727
Land	891
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,727
Land	891
Total	4,618
Accumulated Depreciation	(507)
Rapid City, SD, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,662
Land	2,071
Costs Capitalized Subsequent to Acquisition and Valuation Provision	836
Building & Improvements	11,498
Land	2,071
Total	13,569
Accumulated Depreciation	(3,477)
Reading, PA, Q2 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,401
Land	1,708
Costs Capitalized Subsequent to Acquisition and Valuation Provision	67
Building & Improvements	5,468
Land	1,708
Total	7,176
Accumulated Depreciation	(176)
Muhlenberg TWP, PA, Q2 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	14,064
Land	843
Costs Capitalized Subsequent to Acquisition and Valuation Provision	132
Building & Improvements	14,196
Land	843
Total	15,039
Accumulated Depreciation	(1,982)
Reno, NV, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,461
Land	1,372
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,461
Land	1,372
Total	4,833
Accumulated Depreciation	(357)
Rock Hill, SC, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	(4,012)
Building and Tenant Improvements (initial cost)	6,297
Land	1,411
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,297
Land	1,411
Total	7,708
Accumulated Depreciation	(114)
Rogers, MN, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	(10,014)
Building and Tenant Improvements (initial cost)	11,787
Land	1,671
Costs Capitalized Subsequent to Acquisition and Valuation Provision	238
Building & Improvements	12,025
Land	1,671
Total	13,696
Accumulated Depreciation	(2,925)
Rogers, AR, Q4 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,280
Land	1,072
Costs Capitalized Subsequent to Acquisition and Valuation Provision	99
Building & Improvements	8,379
Land	1,072
Total	9,451
Accumulated Depreciation	(1,391)
Rural Hall, NC, Q3 2008
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,664
Land	439
Costs Capitalized Subsequent to Acquisition and Valuation Provision	147
Building & Improvements	5,811
Land	439
Total	6,250
Accumulated Depreciation	(1,103)
Salem, OR, Q4 2010, One
Real Estate and Accumulated Depreciation
Encumbrances	(2,741)
Building and Tenant Improvements (initial cost)	3,150
Land	599
Costs Capitalized Subsequent to Acquisition and Valuation Provision	640
Building & Improvements	3,790
Land	599
Total	4,389
Accumulated Depreciation	(603)
Salem, OR, Q4 2010, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,231)
Building and Tenant Improvements (initial cost)	1,452
Land	266
Costs Capitalized Subsequent to Acquisition and Valuation Provision	433
Building & Improvements	1,885
Land	266
Total	2,151
Accumulated Depreciation	(340)
San Antonio, TX, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,395
Land	1,568
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	10,395
Land	1,568
Total	11,963
Accumulated Depreciation	(61)
Sauk Village, IL, Q4 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,405
Land	877
Costs Capitalized Subsequent to Acquisition and Valuation Provision	64
Building & Improvements	5,469
Land	877
Total	6,346
Accumulated Depreciation	(621)
Savage, MN, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,996
Land	3,194
Costs Capitalized Subsequent to Acquisition and Valuation Provision	493
Building & Improvements	4,489
Land	3,194
Total	7,683
Accumulated Depreciation	(662)
Savannah, GA Q2 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	13,219
Land	439
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	13,219
Land	439
Total	13,658
Accumulated Depreciation	(1,193)
Sergeant Bluff, IA, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,188
Land	247
Costs Capitalized Subsequent to Acquisition and Valuation Provision	273
Building & Improvements	6,461
Land	247
Total	6,708
Accumulated Depreciation	(3,667)
Seville, OH, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,536
Land	766
Costs Capitalized Subsequent to Acquisition and Valuation Provision	171
Building & Improvements	4,707
Land	766
Total	5,473
Accumulated Depreciation	(949)
Shannon, GA, Q4, 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	12,969
Land	393
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	12,969
Land	393
Total	13,362
Accumulated Depreciation	(1,150)
South Holland, IL, Q4 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,900
Land	714
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,900
Land	714
Total	4,614
Accumulated Depreciation	(652)
Shreveport, LA, Q4 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,265
Land	1,804
Costs Capitalized Subsequent to Acquisition and Valuation Provision	136
Building & Improvements	6,401
Land	1,804
Total	8,205
Accumulated Depreciation	(460)
Simpsonville, SC, Q3 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,960
Land	957
Costs Capitalized Subsequent to Acquisition and Valuation Provision	117
Building & Improvements	3,077
Land	957
Total	4,034
Accumulated Depreciation	(442)
Simpsonville, SC, Q3 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,418
Land	470
Costs Capitalized Subsequent to Acquisition and Valuation Provision	127
Building & Improvements	3,545
Land	470
Total	4,015
Accumulated Depreciation	(462)
Smithfield, NC, Q4 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,694
Land	613
Costs Capitalized Subsequent to Acquisition and Valuation Provision	12
Building & Improvements	4,706
Land	613
Total	5,319
Accumulated Depreciation	(706)
Smyrna, GA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,286
Land	264
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,286
Land	264
Total	3,550
Accumulated Depreciation	(485)
South Bend, IN, Q1 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,834
Land	411
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,834
Land	411
Total	5,245
Accumulated Depreciation	(666)
Sparks, MD, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,945
Land	358
Costs Capitalized Subsequent to Acquisition and Valuation Provision	65
Building & Improvements	2,010
Land	358
Total	2,368
Accumulated Depreciation	(751)
Spartanburg, SC, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	15,100
Land	1,867
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	15,100
Land	1,867
Total	16,967
Accumulated Depreciation	(122)
Spartanburg, SC, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,694
Land	342
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,694
Land	342
Total	4,036
Accumulated Depreciation	(370)
Spartanburg, SC, Q2 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,797
Land	493
Costs Capitalized Subsequent to Acquisition and Valuation Provision	294
Building & Improvements	6,091
Land	493
Total	6,584
Accumulated Depreciation	(728)
Springfield, OH, Q3 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,432
Land	574
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,432
Land	574
Total	7,006
Accumulated Depreciation	(745)
Statham, GA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,130
Land	588
Costs Capitalized Subsequent to Acquisition and Valuation Provision	200
Building & Improvements	6,330
Land	588
Total	6,918
Accumulated Depreciation	(747)
Sterling Heights, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(1,529)
Building and Tenant Improvements (initial cost)	4,197
Land	513
Costs Capitalized Subsequent to Acquisition and Valuation Provision	415
Building & Improvements	4,612
Land	513
Total	5,125
Accumulated Depreciation	(548)
Stoughton, MA, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,613
Land	2,256
Costs Capitalized Subsequent to Acquisition and Valuation Provision	824
Building & Improvements	3,437
Land	2,256
Total	5,693
Accumulated Depreciation	(606)
Stoughton, MA, Q2 2015, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,216
Land	538
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,216
Land	538
Total	1,754
Accumulated Depreciation	(174)
Streetsboro, OH, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	(5,493)
Building and Tenant Improvements (initial cost)	5,481
Land	2,161
Costs Capitalized Subsequent to Acquisition and Valuation Provision	214
Building & Improvements	5,695
Land	2,161
Total	7,856
Accumulated Depreciation	(1,340)
Strongsville, OH, Q1 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,853
Land	491
Costs Capitalized Subsequent to Acquisition and Valuation Provision	23
Building & Improvements	5,876
Land	491
Total	6,367
Accumulated Depreciation	(573)
Sun Prairie, WI, Q3 2008
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,809
Land	2,360
Costs Capitalized Subsequent to Acquisition and Valuation Provision	2,377
Building & Improvements	8,186
Land	2,360
Total	10,546
Accumulated Depreciation	(1,176)
Toledo, OH, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,831
Land	213
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,831
Land	213
Total	7,044
Accumulated Depreciation	(976)
Burlington, NJ, Vacant Land [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	0
Land	3,267
Costs Capitalized Subsequent to Acquisition and Valuation Provision	167
Building & Improvements	167
Land	3,267
Total	3,434
Accumulated Depreciation	0
Libertyville, IL, Q3 2015, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	0
Land	369
Costs Capitalized Subsequent to Acquisition and Valuation Provision	2
Building & Improvements	2
Land	369
Total	371
Accumulated Depreciation	0
Libertyville, IL, Q3 2015, Four
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	0
Land	397
Costs Capitalized Subsequent to Acquisition and Valuation Provision	2
Building & Improvements	2
Land	397
Total	399
Accumulated Depreciation	0
Tulsa, OK, Q3 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,242
Land	966
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,242
Land	966
Total	9,208
Accumulated Depreciation	(405)
Twinsburg, OH, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,027
Land	590
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,027
Land	590
Total	8,617
Accumulated Depreciation	(1,590)
Visalia, CA Q2 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	21,839
Land	4,346
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	21,839
Land	4,346
Total	26,185
Accumulated Depreciation	(646)
Vonore, TN, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	(7,707)
Building and Tenant Improvements (initial cost)	8,243
Land	2,355
Costs Capitalized Subsequent to Acquisition and Valuation Provision	85
Building & Improvements	8,328
Land	2,355
Total	10,683
Accumulated Depreciation	(1,571)
Waco, TX, Q2 2008
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,394
Land	0
Costs Capitalized Subsequent to Acquisition and Valuation Provision	274
Building & Improvements	1,668
Land	0
Total	1,668
Accumulated Depreciation	(244)
West Allis, WI, Q4 2015, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,905
Land	462
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,905
Land	462
Total	2,367
Accumulated Depreciation	(97)
West Allis, WI, Q4 2015, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,860
Land	444
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,860
Land	444
Total	2,304
Accumulated Depreciation	(91)
West Allis, WI, Q4 2015, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	929
Land	252
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	929
Land	252
Total	1,181
Accumulated Depreciation	(48)
West Allis, WI, Q4 2015, Four
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,039
Land	251
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	1,039
Land	251
Total	1,290
Accumulated Depreciation	(51)
Walker, MI, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	(3,685)
Building and Tenant Improvements (initial cost)	4,872
Land	855
Costs Capitalized Subsequent to Acquisition and Valuation Provision	118
Building & Improvements	4,990
Land	855
Total	5,845
Accumulated Depreciation	(949)
Ware Shoals, SC, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(251)
Building and Tenant Improvements (initial cost)	197
Land	133
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	197
Land	133
Total	330
Accumulated Depreciation	(29)
Warren, MI, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	14,473
Land	1,290
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	14,473
Land	1,290
Total	15,763
Accumulated Depreciation	(234)
West Chester, OH, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,868
Land	936
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,868
Land	936
Total	9,804
Accumulated Depreciation	(27)
West Chicago1, IL, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,036
Land	768
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,036
Land	768
Total	2,804
Accumulated Depreciation	(8)
West Chicago2, IL, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	674
Land	382
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	674
Land	382
Total	1,056
Accumulated Depreciation	(6)
West Chicago3, IL, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	768
Land	450
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	768
Land	450
Total	1,218
Accumulated Depreciation	(5)
West Chicago4, IL, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	895
Land	369
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	895
Land	369
Total	1,264
Accumulated Depreciation	(6)
West Chicago5, IL, Q4 2016 [Member] [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	904
Land	216
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	904
Land	216
Total	1,120
Accumulated Depreciation	(4)
West Chicago, IL, Q2 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,247
Land	915
Costs Capitalized Subsequent to Acquisition and Valuation Provision	59
Building & Improvements	6,306
Land	915
Total	7,221
Accumulated Depreciation	(225)
West Columbia1, SC, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,570
Land	488
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	9,570
Land	488
Total	10,058
Accumulated Depreciation	(29)
West Columbia2, SC, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,646
Land	551
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,646
Land	551
Total	5,197
Accumulated Depreciation	(33)
Westborough, MA, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,808
Land	661
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,808
Land	661
Total	6,469
Accumulated Depreciation	(68)
Hamilton, OH, Q2 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,585
Land	1,046
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,585
Land	1,046
Total	9,631
Accumulated Depreciation	(1,290)
Wichita, KS, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(1,529)
Building and Tenant Improvements (initial cost)	1,815
Land	88
Costs Capitalized Subsequent to Acquisition and Valuation Provision	11
Building & Improvements	1,826
Land	88
Total	1,914
Accumulated Depreciation	(214)
Wichita, KS, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,671)
Building and Tenant Improvements (initial cost)	1,839
Land	107
Costs Capitalized Subsequent to Acquisition and Valuation Provision	57
Building & Improvements	1,896
Land	107
Total	2,003
Accumulated Depreciation	(257)
Wichita, KS, Q4 2012, Four
Real Estate and Accumulated Depreciation
Encumbrances	(764)
Building and Tenant Improvements (initial cost)	833
Land	76
Costs Capitalized Subsequent to Acquisition and Valuation Provision	131
Building & Improvements	964
Land	76
Total	1,040
Accumulated Depreciation	(109)
Williamsport, PA, Q2 2013
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,059
Land	688
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	9,059
Land	688
Total	9,747
Accumulated Depreciation	(1,150)
Winston-Salem, NC, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	11,054
Land	610
Costs Capitalized Subsequent to Acquisition and Valuation Provision	16
Building & Improvements	11,070
Land	610
Total	11,680
Accumulated Depreciation	(949)
Wood Dale, IL, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,042
Land	1,226
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,042
Land	1,226
Total	6,268
Accumulated Depreciation	(30)
Woodstock, IL, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,796
Land	496
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,796
Land	496
Total	4,292
Accumulated Depreciation	(520)
Yorkville, WI, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	(4,044)
Building and Tenant Improvements (initial cost)	4,915
Land	416
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,915
Land	416
Total	5,331
Accumulated Depreciation	(339)
Bardstown, KY, Q2 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,398
Land	379
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,398
Land	379
Total	2,777
Accumulated Depreciation	$ (617)

Schedule 3 - Real Estate and 81

Schedule 3 - Real Estate and Accumulated Depreciation - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2016
Building
Real Estate and Accumulated Depreciation
Useful life	40 years
Building and land improvements | Maximum
Real Estate and Accumulated Depreciation
Useful life	20 years

Schedule 3 - Real Estate and 82

Schedule 3 - Real Estate and Accumulated Depreciation - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SEC Schedule III, Real Estate, Federal Income Tax Basis	$ 2,600,000
RealEstate:
Balance at beginning of period	1,711,612	$ 1,415,965	$ 1,079,046
Additions during period
Other acquisitions	381,131	330,504	337,726
Improvements etc.	33,133	16,851	13,608
Deductions during period
Cost of real estate sold	(97,342)	(21,443)	(10,539)
Write-off of tenant improvements	(2,585)	(1,205)	(1,036)
Asset Impairments	(16,233)	(29,060)	(2,840)
Balance at the end of the period	2,009,716	1,711,612	1,415,965
Accumulated Depreciation:
Balance at beginning of period	147,917	105,435	71,653
Additions during period
Depreciation and amortization expense	57,391	48,186	36,356
Other additions	0	0	0
Deductions during period
Disposals	(17,895)	(5,704)	(2,574)
Balance at the end of the period	$ 187,413	$ 147,917	$ 105,435