STAG Industrial (STAG) 10-K 15 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Feb. 13, 2018	Jun. 30, 2017
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, 2017
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			$ 2,517
Entity Common Stock, Shares Outstanding		97,234,720
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Rental Property:
Land	$ 321,560	$ 272,162
Buildings and improvements, net of accumulated depreciation of $249,057 and $187,413, respectively	1,932,764	1,550,141
Deferred leasing intangibles, net of accumulated amortization of $280,642 and $237,456, respectively	313,253	294,533
Total rental property, net	2,567,577	2,116,836
Cash and cash equivalents	24,562	12,192
Restricted cash	3,567	9,613
Tenant accounts receivable, net	33,602	25,223
Prepaid expenses and other assets	25,364	20,821
Interest rate swaps	6,079	1,471
Assets held for sale, net	19,916	0
Total assets	2,680,667	2,186,156
Liabilities:
Unsecured credit facility	271,000	28,000
Unsecured term loans, net	446,265	446,608
Unsecured notes, net	398,234	397,966
Mortgage notes, net	58,282	163,565
Accounts payable, accrued expenses and other liabilities	43,216	35,389
Interest rate swaps	1,217	2,438
Tenant prepaid rent and security deposits	19,045	15,195
Dividends and distributions payable	11,880	9,728
Deferred leasing intangibles, net of accumulated amortization of $13,555 and $10,450, respectively	21,221	20,341
Total liabilities	1,270,360	1,119,230
Commitments and contingencies (Note 11)
Equity:
Common stock, par value $0.01 per share, 150,000,000 shares authorized, 97,012,543 and 80,352,304 shares issued and outstanding at December 31, 2017 and December 31, 2016, respectively	970	804
Additional paid-in capital	1,725,825	1,293,706
Common stock dividends in excess of earnings	(516,691)	(410,978)
Accumulated other comprehensive income (loss)	3,936	(1,496)
Total stockholders’ equity	1,359,040	1,027,036
Noncontrolling interest	51,267	39,890
Total equity	1,410,307	1,066,926
Total liabilities and equity	2,680,667	2,186,156
Series B, 2,800,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2017 and December 31, 2016
Equity:
Preferred stock, par value $0.01 per share, 15,000,000 shares authorized,	70,000	70,000
Series C, 3,000,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2017 and December 31, 2016
Equity:
Preferred stock, par value $0.01 per share, 15,000,000 shares authorized,	$ 75,000	$ 75,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Building and building, accumulated amortization	$ 249,057	$ 187,413
Deferred leasing intangibles assets, accumulated amortization	280,642	237,456
Deferred leasing intangibles liabilities, accumulated amortization	$ 13,555	$ 10,450
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common Stock, shares issued	97,012,543	80,352,304
Common stock, shares outstanding	97,012,543	80,352,304
Series B, 2,800,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2017 and December 31, 2016
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, 3,000,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2017 and December 31, 2016
Preferred stock, shares issued	3,000,000	3,000,000
Preferred stock, shares outstanding	3,000,000	3,000,000
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue
Rental income	$ 255,831	$ 212,741	$ 186,463
Tenant recoveries	45,005	37,107	31,666
Other income	251	395	504
Total revenue	301,087	250,243	218,633
Expenses
Property	57,701	48,904	42,627
General and administrative	33,349	33,395	28,750
Property acquisition costs	5,386	4,567	4,757
Depreciation and amortization	150,881	125,444	110,421
Loss on impairments	1,879	16,845	29,272
Gain on involuntary conversion	(325)	0	0
Other expenses	1,786	1,149	1,048
Total expenses	250,657	230,304	216,875
Other income (expense)
Interest income	12	10	9
Interest expense	(42,469)	(42,923)	(36,098)
Loss on extinguishment of debt	(15)	(3,261)	0
Gain on the sales of rental property, net	24,242	61,823	4,986
Total other income (expense)	(18,230)	15,649	(31,103)
Net income (loss)	32,200	35,588	(29,345)
Less: income (loss) attributable to noncontrolling interest after preferred stock dividends	941	1,069	(1,962)
Net income (loss) attributable to STAG Industrial, Inc.	31,259	34,519	(27,383)
Less: preferred stock dividends	9,794	13,897	10,848
Less: amount allocated to participating securities	334	384	385
Net income (loss) attributable to common stockholders	$ 21,131	$ 20,238	$ (38,616)
Weighted average common shares outstanding — basic	89,537,714	70,637,185	66,307,972
Weighted average common shares outstanding — diluted	90,003,559	70,852,548	66,307,972
Net income (loss) per share — basic and diluted
Net income (loss) per share attributable to common stockholders — basic	$ 0.24	$ 0.29	$ (0.58)
Net income (loss) per share attributable to common stockholders — diluted	$ 0.23	$ 0.29	$ (0.58)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 32,200	$ 35,588	$ (29,345)
Other comprehensive income (loss):
Income (loss) on interest rate swaps	5,670	898	(1,956)
Other comprehensive income (loss)	5,670	898	(1,956)
Comprehensive income (loss)	37,870	36,486	(31,301)
(Income) loss attributable to noncontrolling interest after preferred stock dividends	(941)	(1,069)	1,962
Other comprehensive (income) loss attributable to noncontrolling interest	(238)	(44)	95
Comprehensive income (loss) attributable to STAG Industrial, Inc.	$ 36,691	$ 35,373	$ (29,244)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Series C Preferred Stock	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	Total Stockholders' EquitySeries A Preferred Stock	Noncontrolling Interest - Unit holders in Operating Partnership
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
Dividends and distributions, net	(106,751)			(10,848)			(91,131)		(101,979)			(4,772)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures					95,254
Non-cash compensation	7,579					2,804			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)					12,090,038
Offering costs	(6,928)					(6,928)			(6,928)
Issuance of restricted stock, net					$ 1
Dividends and distributions, net	(118,933)			(13,897)			(99,329)		(113,226)			(5,707)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures					116,441
Non-cash compensation	9,775					3,690			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
Increase (Decrease) in Stockholders' Equity
Proceeds from sales of common stock	427,542				$ 163	427,379			427,542
Proceeds from sales of common stock (in shares)		3,000,000			16,262,375
Offering costs	(6,053)					(6,053)			(6,053)
Dividends and distributions, net	(143,156)			(9,794)			(126,984)		(136,778)			(6,378)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures					46,604
Non-cash compensation	8,620					4,138			3,944			4,676
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures							194
Issuance of units	18,558											18,558
Redemption of common units to common stock					$ 3	3,929			3,932			(3,932)
Redemption of common units to common stock (in shares)					351,260
Rebalancing of noncontrolling interest						2,726			2,726			(2,726)
Other comprehensive income (loss)	5,670							5,432	5,432			238
Net income (loss)	32,200			9,794			21,465		31,259			941
Balance at Dec. 31, 2017	$ 1,410,307			$ 145,000	$ 970	$ 1,725,825	$ (516,691)	$ 3,936	$ 1,359,040			$ 51,267
Balance (in shares) at Dec. 31, 2017					97,012,543

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ 32,200	$ 35,588	$ (29,345)
Adjustment to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	150,881	125,444	110,421
Loss on impairments	1,879	16,845	29,272
Gain on involuntary conversion	(325)	0	0
Non-cash portion of interest expense	1,897	1,632	1,262
Intangible amortization in rental income, net	4,583	6,213	8,526
Straight-line rent adjustments, net	(7,475)	(1,817)	(3,134)
Dividends on forfeited equity compensation	2	3	25
Loss on extinguishment of debt	15	3,261	0
Gain on the sales of rental property, net	(24,242)	(61,823)	(4,986)
Non-cash compensation expense	9,547	9,729	7,578
Change in assets and liabilities:
Tenant accounts receivable, net	(2,125)	(1,435)	(1,334)
Restricted cash	464	(365)	(40)
Prepaid expenses and other assets	(9,103)	(4,580)	(3,155)
Accounts payable, accrued expenses and other liabilities	514	6,161	3,469
Tenant prepaid rent and security deposits	3,850	567	3,148
Total adjustments	130,362	99,835	151,052
Net cash provided by operating activities	162,562	135,423	121,707
Cash flows from investing activities:
Acquisitions of land and buildings and improvements	(497,264)	(377,559)	(291,949)
Additions of land and building and improvements	(45,790)	(30,485)	(16,329)
Acquisitions of other assets	0	(158)	(565)
Proceeds from sales of rental property, net	65,075	152,079	22,163
Proceeds from insurance on involuntary conversion	1,796	0	0
Restricted cash	5,582	(853)	(1,449)
Acquisition deposits, net	255	(560)	1,420
Acquisitions of deferred leasing intangibles	(95,707)	(89,576)	(85,329)
Net cash used in investing activities	(566,053)	(347,112)	(372,038)
Cash flows from financing activities:
Proceeds from sale of series C preferred stock	0	75,000	0
Redemption of series A preferred stock	0	(69,000)	0
Redemption of common units for cash	0	0	(64)
Proceeds from unsecured credit facility	677,500	513,000	300,750
Repayment of unsecured credit facility	(434,500)	(541,000)	(375,750)
Proceeds from unsecured term loans	0	150,000	150,000
Proceeds from unsecured notes	0	0	220,000
Repayment of mortgage notes	(105,470)	(70,444)	(20,571)
Payment of loan fees and costs	(1,209)	(715)	(3,672)
Payment of loan prepayment fees and costs	(15)	(3,278)	0
Dividends and distributions	(141,006)	(117,441)	(105,892)
Proceeds from sales of common stock	427,542	282,669	74,892
Repurchase and retirement of restricted stock	(969)	0	0
Offering costs	(6,012)	(6,921)	(1,229)
Net cash provided by financing activities	415,861	211,870	238,464
Increase (decrease) in cash and cash equivalents	12,370	181	(11,867)
Cash and cash equivalents—beginning of period	12,192	12,011	23,878
Cash and cash equivalents—end of period	24,562	12,192	12,011
Supplemental disclosure:
Cash paid for interest, net of capitalized interest	40,685	39,367	32,440
Supplemental schedule of non-cash investing and financing activities
Issuance of units for acquisitions of land and building and improvements and deferred leasing intangibles	(18,558)	0	(22,853)
Contingent consideration for acquisition of land and building and improvements	0	0	(216)
Contingent consideration for acquisition of deferred leasing intangibles	0	0	(84)
Contingent consideration liability acquired	0	0	300
Additions to building and other capital improvements	158	1,175	565
Transfer of other assets to building and other capital improvements	(158)	0	(565)
Acquisitions of land and buildings and improvements	(17,461)	(3,572)	(38,339)
Acquisitions of deferred leasing intangibles	(2,079)	(1,008)	(11,199)
Partial disposal of building due to involuntary conversion of building	363	779	0
Investing other receivables due to involuntary conversion of building	(363)	(779)	0
Change in additions of land, building, and improvements included in accounts payable, accrued expenses, and other liabilities	(7,125)	(1,455)	(182)
Additions to building and other capital improvements from non-cash compensation	(26)	(18)	0
Assumption of mortgage notes	0	4,037	26,267
Fair market value adjustment to mortgage notes acquired	0	75	418
Change in loan fees, costs, and offering costs included in accounts payable, accrued expenses, and other liabilities	(15)	26	24
Dividends and distributions accrued	$ 11,880	$ 9,728	$ 8,234

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2017
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, ownership, 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 properties 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, 2017 and 2016 , the Company owned a 95.9% and 95.7% , 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, 2017 , the Company owned 356 buildings in 37 states with approximately 70.2 million rentable square feet (square feet unaudited herein and throughout the Notes), consisting of 288 warehouse/distribution buildings, 52 light manufacturing buildings, 14 flex/office buildings, and two buildings classified as held for sale. The Company’s buildings were approximately 95.3% leased to 312 tenants as of December 31, 2017 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
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. Reclassifications and New Accounting Pronouncements Certain prior year amounts have been reclassified to conform to the current year presentation. In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. This standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those years, with early adoption permitted, and should be applied using a modified retrospective transition method to each period presented. This adoption method will require the Company to recognize the cumulative effect of initially applying the ASU as an adjustment to accumulated other comprehensive income (loss) with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year that an entity adopts the update. The adoption of ASU 2017-12 is not expected to materially impact the Company’s consolidated financial statements. The Company plans to adopt this standard effective January 1, 2018. In May 2017, the FASB issued ASU 2017-09, Stock Compensation (Topic 718): Scope of Modification Accounting , which provides updated guidance about which changes to the terms or conditions of a share-based payment award would require an entity to apply modification accounting under the topic. 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 prospectively to an award modified on or after the adoption date. The adoption of ASU 2017-09 is not expected to materially impact the Company’s consolidated financial statements. The Company plans to adopt this standard effective January 1, 2018. In February 2017, the FASB issued ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets , which provides guidance for recognizing gains and losses from the transfer of nonfinancial assets in contracts with non-customers. The new standard was issued as part of the new revenue standard (ASU 2014-09, as discussed below), and defines “in substance nonfinancial asset,” unifies guidance related to partial sales of nonfinancial assets, eliminates rules specifically addressing sales of real estate, removes exceptions to the financial asset derecognition model, and clarifies the accounting for contributions of nonfinancial assets to joint ventures. As a result of the new guidance, the guidance specific to real estate sales in Subtopic 360-20 will be eliminated, and sales and partial sales of real estate assets will now be subject to the same derecognition model as all other nonfinancial assets. This standard is effective at the same time an entity adopts ASU 2014-09, and either the full retrospective approach or the modified retrospective approach may be used. The adoption of ASU 2017-05 is not expected to materially impact the Company’s consolidated financial statements. The Company plans to adopt this standard effective January 1, 2018 using the modified retrospective approach. In January 2017, the FASB issued 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. The Company elected to early adopt this standard effective January 1, 2017. The adoption of this standard did not have a material effect on the Company's consolidated financial statements. In January 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 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. The Company plans to adopt this standard effective January 1, 2018. In February 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 plans to adopt this standard effective January 1, 2019. In January 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. The Company plans to adopt this standard effective January 1, 2018. In May 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 specifically excluded from the model's scope, 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 upon the adoption of ASU 2016-02 on January 1, 2019. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. 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 adoption of ASU 2014-09 is not expected to materially impact the Company’s consolidated financial statements. The Company plans to adopt this standard effective January 1, 2018 using the modified retrospective approach. 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 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 above and below market lease values are amortized into rental income over the remaining lease term. The value of in-place lease intangibles and tenant relationships are amortized over the remaining lease term (and expected renewal period of the respective lease for tenant relationships) as increases to depreciation and amortization expense. The remaining lease terms are adjusted for bargain renewal options or assumed exercises of early termination options, as applicable. If a tenant subsequently terminates its lease, any 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 and amortization expense over the shortened lease term. The purchase price allocated to deferred leasing intangible assets are included in rental property, net on the accompanying Consolidated Balance Sheets and the purchase price allocated to deferred leasing intangible liabilities are included in deferred leasing intangibles, net 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 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 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 approximately $2.2 million , $30.0 million , $1.5 million , respectively, for the year ended December 31, 2017 and approximately $2.6 million , $17.9 million , $0 , respectively, for the year ended December 31, 2016 . 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. 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, 2017 and 2016 , the Company had an allowance for doubtful accounts of approximately $0.1 million and $0.2 million , respectively. The Company accrues rental income earned, but not yet receivable, in accordance with GAAP. As of December 31, 2017 and 2016 , the Company had accrued rental income, net of allowance of approximately $24.7 million and $18.4 million , respectively. The Company maintains an allowance for estimated losses that may result from those revenues, which as of December 31, 2017 and 2016 , was approximately $0.2 million and $0 , respectively. As of December 31, 2017 and 2016 , the Company had approximately $12.7 million and $9.0 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, 2017 and 2016 , the Company had approximately $7.4 million and $5.4 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 $0.7 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, 2017 and 2016 , the Company's total liability associated with these lease security deposits was approximately $8.1 million and $5.8 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 approximately $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, 2017 . 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 its derivative financial instruments 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 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, and 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 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 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. The Company paid approximately $5.2 million ( $1.88125 per share) and $6.2 million ( $2.25 per share) of the 9.0% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") dividends for the years ended December 31, 2016 and 2015 , respectively, that were treated as ordinary income for tax purposes. The Company paid approximately $4.6 million ( $1.65625 per share), $4.6 million ( $1.65625 per share) and $4.6 million ( $1.65625 per share) of the 6.625% Series B Cumulative Redeemable Preferred Stock ("Series B Preferred Stock") dividends for the years ended December 31, 2017 , 2016 and 2015 , respectively, that were treated as ordinary income for tax purposes. The Company paid approximately $5.2 million ( $1.71875 per share) and $4.1 million ( $1.355905 per share) of the 6.875% Series C Cumulative Redeemable Preferred Stock ("Series C Preferred Stock") dividends for the years ended December 31, 2017 and 2016 , respectively, that were treated as ordinary income for tax purposes The tax treatment of common dividends per share for federal income tax purposes is as follows. Year ended December 31, 2017 2016 2015 Per Share % Per Share % Per Share % Ordinary income $ 0.965483 68.8 % $ 0.944038 68.0 % $ 0.777244 57.2 % Return of capital 0.437852 31.2 % 0.445125 32.0 % 0.582756 42.8 % Total (1) $ 1.403335 100.0 % $ 1.389163 100.0 % $ 1.360000 100.0 % (1) 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 was included in the stockholder’s 2017 tax year. The December 2017 monthly common stock dividend of $0.1175 per share will be included in the stockholder’s 2018 tax year. 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. Rental income recognition commences when the tenant takes possession of or controls the physical use of the leased space and the leased space is substantially complete and ready for its intended use. In order to determine whether the leased space is substantially complete and ready for its intended use, the Company determines whether the Company or the tenant own the tenant improvements. When it is determined that the Company is the owner of the tenant improvements, rental income recognition begins when the tenant takes possession of or controls the physical use of the finished space, which is generally when the Company owned tenant improvements are completed. In instances when it is determined that the tenant is the owner of tenant improvements, rental income recognition begins when the tenant takes possession of or controls the physical use of the leased space. When the Company is the owner of tenant improvements or other capital items, the cost to construct the tenant improvements or other capital items, including costs paid for or reimbursed by the tenants, is recorded as capital assets. For these tenant improvements or other capital items, the amount funded by or reimbursed by the tenants are recorded as de

Rental Property

Rental Property	12 Months Ended
	Dec. 31, 2017
Real Estate [Abstract]
Real Estate	Rental Property The following table summarizes the components of rental property, net as of December 31, 2017 and 2016 . Rental Property, net (in thousands) December 31, 2017 December 31, 2016 Land $ 321,560 $ 272,162 Buildings, net of accumulated depreciation of $160,281 and $125,971, respectivel y 1,756,579 1,408,406 (1) Tenant improvements, net of accumulated depreciation of $32,714 and $28,388, respectively 30,138 24,974 Building and land improvements, net of accumulated depreciation of $56,062 and $33,054, respectivel y 143,170 107,463 Construction in progress 2,877 9,298 Deferred leasing intangibles, net of accumulated amortization of $280,642 and $237,456, respectively 313,253 294,533 Total rental property, net $ 2,567,577 $ 2,116,836 (1) Includes one building in redevelopment. Acquisitions The following tables summarize the acquisitions of the Company during the years ended December 31, 2017 and 2016 . Year ended December 31, 2017 Location of Property Square Feet Buildings Purchase Price Jacksonville, FL 1,025,720 4 $ 34,264 Sparks, NV 174,763 1 8,380 Salisbury, NC 288,000 1 8,250 Franklin Township, NJ 183,000 1 12,800 Milford, CT 200,000 1 12,762 Bedford Heights, OH 173,034 1 7,622 Redford, MI 135,728 1 7,769 Warren, MI 154,377 1 7,940 Three months ended March 31, 2017 2,334,622 11 99,787 Waukegan, IL 261,075 2 13,850 Gaffney, SC 226,968 1 7,200 Dayton, OH 569,966 1 29,750 Belvidere, IL 336,204 1 22,867 San Diego, CA 205,440 1 19,362 Edwardsville, KS 270,869 1 16,270 Pedricktown, NJ 245,749 1 16,000 Walton, KY 224,921 1 11,450 Rock Hill, SC 275,000 1 6,675 Laredo, TX 206,810 1 13,500 Clinton, PA 297,200 1 23,650 Batavia, IL 102,500 1 5,900 Wallingford, CT 105,000 1 8,200 Rockwall, TX 389,546 1 28,600 Houston, TX 232,800 3 25,000 Lebanon, PA 211,358 1 7,950 Maple Grove, MN 108,628 1 10,031 Romulus, MI 303,760 1 19,351 Three months ended June 30, 2017 4,573,794 21 285,606 Stone Mountain, GA 78,000 1 4,175 York, PA 382,886 1 18,981 Pittston, PA 437,446 1 23,950 O'Fallon, MO 109,854 1 5,740 Belleville, MI 160,464 1 8,641 Columbus, OH 147,645 1 6,954 Groveport, OH 320,657 1 13,643 Las Vegas, NV 34,916 1 4,642 Mooresville, NC 499,200 1 25,750 Swedesboro, NJ 123,962 1 7,250 Three months ended September 30, 2017 2,295,030 10 119,726 Council Bluffs, IA 90,000 1 6,600 Hilliard, OH 237,500 1 8,717 Fountain Inn, SC 264,385 1 18,200 West Columbia, SC 200,000 1 10,000 Avondale, AZ 186,643 1 16,500 El Paso, TX 498,382 2 16,850 Stafford, TX 68,300 1 8,100 South Easton, MA 86,000 1 8,125 Madison, WI 283,000 2 14,300 Three months ended December 31, 2017 1,914,210 11 107,392 Year ended December 31, 2017 11,117,656 53 $ 612,511 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 The following table summarizes the allocation of the consideration paid at the date of acquisition during the years ended December 31, 2017 and 2016 , respectively, for the acquired assets and liabilities in connection with the acquisitions identified in the tables above. Year ended December 31, 2017 Year ended December 31, 2016 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 $ 59,004 N/A $ 59,630 N/A Buildings 413,829 N/A 283,758 N/A Tenant improvements 10,044 N/A 8,670 N/A Building and land improvements 31,848 N/A 29,073 N/A Deferred leasing intangibles - In-place leases 62,493 8.3 62,533 8.2 Deferred leasing intangibles - Tenant relationships 27,056 10.8 30,446 10.4 Deferred leasing intangibles - Above market leases 14,375 10.6 10,576 9.2 Deferred leasing intangibles - Below market leases (5,222 ) 8.5 (12,971 ) 8.5 Deferred leasing intangibles - Above market ground leases (916 ) 49.0 — N/A Above market assumed debt adjustment — N/A (75 ) 7.2 Other assets — N/A 158 N/A Total purchase price 612,511 471,798 Less: Mortgage note assumed — (4,037 ) Net assets acquired $ 612,511 $ 467,761 On May 31, 2017, the Company acquired a property located in San Diego, CA for approximately $19.4 million . As partial consideration for the property acquired, the Company granted 687,827 Other Common Units with a fair value of approximately $18.6 million . For a discussion of the method used to determine the fair value of the Other Common Units issued, see Note 7. 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. For a discussion of the method used to determine the fair value of the mortgage notes, see Note 4. The table below sets forth the results of operations for the years ended December 31, 2017 and 2016 for the properties acquired during the years ended December 31, 2017 and 2016 , respectively, included in the Company’s Consolidated Statements of Operations from the date of acquisition. Results of Operations (in thousands) Year ended December 31, 2017 Year ended December 31, 2016 Total revenue $ 27,918 $ 13,105 Property acquisition costs $ 5,181 $ 4,386 Net loss $ 1,473 $ 3,560 The following table sets forth pro forma information for the years ended December 31, 2017 and 2016 . 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, 2017 Year ended December 31, 2016 Total revenue $ 326,994 $ 321,512 Net income (2) $ 40,519 $ 24,520 Net income attributable to common stockholders $ 29,101 $ 9,715 (1) The unaudited pro forma information for the years ended December 31, 2017 and 2016 is presented as if the properties acquired during the years ended December 31, 2017 and 2016 were completed on January 1, 2016 and January 1, 2015 , respectively. (2) The net income for the year ended December 31, 2017 excludes approximately $5.2 million of property acquisition costs related to the acquisition of buildings that closed during the year ended December 31, 2017 , and the net income for the year ended December 31, 2016 was adjusted to include these acquisition costs. Net income 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 . Dispositions During the year ended December 31, 2017 , the Company sold 11 buildings comprised of approximately 1.9 million square feet with a net book value of approximately $40.9 million to third parties. These buildings contributed approximately $3.8 million , $7.0 million and $6.9 million to revenue for the years ended December 31, 2017 , 2016 and 2015 , respectively. These buildings contributed approximately $1.5 million , $1.5 million and $1.7 million to net income (exclusive of loss on impairment and gain on the sales of rental property, net) for the years ended December 31, 2017 , 2016 and 2015 , respectively. Net proceeds from the sales of rental property were approximately $65.1 million and the Company recognized a gain on the sales of rental property, net of approximately $24.2 million for the year ended December 31, 2017 . All of the dispositions were accounted for under the full accrual method. 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 and $15.6 million to revenue (exclusive of termination income and acceleration of straight line rent) for the years ended December 31, 2016 and 2015 , respectively. These buildings contributed approximately $1.3 million and $1.3 million to net income (exclusive of loss on impairments, loss on extinguishment of debt, gain on the sales of rental property, net, termination income, and acceleration of straight line rent and lease intangibles) for the years ended December 31, 2016 and 2015 , respectively. 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) for the year ended December 31, 2015 . These buildings contributed approximately $0.8 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, 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. Assets Held for Sale, net As of December 31, 2017 , the related land, building and improvements, net, and deferred leasing intangibles, net, of approximately $4.2 million , $13.6 million , and $2.1 million , respectively, for two buildings located in Charlotte, NC were classified as assets held for sale, net on the accompanying Consolidated Balance Sheets. These buildings contributed approximately $2.9 million , $2.6 million and $2.2 million to revenue for the years ended December 31, 2017 , 2016 and 2015 , respectively. These buildings contributed approximately $0.9 million , $0.3 million and $0.3 million to net income (exclusive of gain on involuntary conversion) for the years ended December 31, 2017 , 2016 and 2015 , respectively. Involuntary Conversion During the year ended December 31, 2017 , the Company wrote down a building in the amount of approximately $0.8 million , related to the involuntary conversion event that occurred on September 1, 2016. The cumulative write down of the building since the involuntary conversion event was approximately $1.5 million as of December 31, 2017 . The Company recognized a gain on involuntary conversion of approximately $0.3 million , $0 and $0 during the years ended December 31, 2017 , 2016 and 2015 , respectively. Loss on Impairments The following table summarizes the Company's loss on impairments for assets held and used during the year ended December 31, 2017. 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) Cincinnati, OH 1 Market leasing conditions (3) Discounted cash flows Three months ended December 31, 2017 $ 1,543 $ 1,879 Year ended December 31, 2017 $ 1,543 $ 1,879 (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) Level 3 inputs used to determine fair value for the property impaired for the three months ended December 31, 2017: discount rate of 10.0% and exit capitalization rate of 10.0% . 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 (5) Newark, DE 1 Market leasing conditions Discounted cash flows (5) Seville, OH 2 Market leasing conditions Discounted cash flows (5) Sparks, MD 2 Change in estimated hold period (4) Discounted cash flows (5) Three months ended June 30, 2016 $ 10,598 $ 11,231 Boardman, OH 1 Change in estimated hold period (4) Discounted cash flows (6) Holland, MI 1 Change in estimated hold period (4) Discounted cash flows (6) Pensacola, FL 1 Change in estimated hold period (3) Discounted cash flows (6) 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) This property was sold during the year ended December 31, 2017. (5) 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% . (6) 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 (6) 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 (4) 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 (4) Discounted cash flows (8) Gloversville, NY 1 Change in estimated hold period (4) Discounted cash flows (8) Jackson, MS 1 Change in estimated hold period (4) Discounted cash flows (8) Jackson, MS 1 Change in estimated hold period (4) 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 (5) 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) This property was sold during the year ended December 31, 2016. (5) This property was sold during the year ended December 31, 2017. (6) Level 3 inputs used to determine fair value: discount rate of 9.0% and exit capitalization rate of 12.0% (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% . Deferred Leasing Intangibles The following table summarizes the deferred leasing intangibles on the accompanying Consolidated Balance Sheets as of December 31, 2017 and 2016 . December 31, 2017 December 31, 2016 Deferred Leasing Intangibles (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Above market leases $ 78,558 $ (36,810 ) $ 41,748 $ 70,668 $ (32,868 ) $ 37,800 Other intangible lease assets 515,337 (243,832 ) 271,505 461,321 (204,588 ) 256,733 Total deferred leasing intangible assets $ 593,895 $ (280,642 ) $ 313,253 $ 531,989 $ (237,456 ) $ 294,533 Below market leases $ 34,776 $ (13,555 ) $ 21,221 $ 30,791 $ (10,450 ) $ 20,341 Total deferred leasing intangible liabilities $ 34,776 $ (13,555 ) $ 21,221 $ 30,791 $ (10,450 ) $ 20,341 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, 2017 , 2016 and 2015 . Year ended December 31, Deferred Leasing Intangibles Amortization (in thousands) 2017 2016 2015 Net decrease to rental income related to above and below market lease amortization $ 4,583 $ 6,213 $ 8,526 Amortization expense related to other intangible lease assets $ 72,936 $ 66,291 $ 60,834 The following table sets forth the amortization of deferred leasing intangibles over the next five years as of December 31, 2017 . 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) 2018 $ 63,957 $ 4,475 2019 $ 49,758 $ 3,881 2020 $ 39,765 $ 3,466 2021 $ 29,093 $ 2,140 2022 $ 22,037 $ 1,172

Debt

Debt	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016 . Loan Principal Outstanding as of December 31, 2017 (in thousands) Principal Outstanding as of December 31, 2016 Interest (1) Maturity Date Prepayment Terms (2) Unsecured credit facility: Unsecured Credit Facility (3) $ 271,000 $ 28,000 L + 1.15% Dec-18-2019 i Total unsecured credit facility 271,000 28,000 Unsecured term loans: Unsecured Term Loan C 150,000 150,000 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 Unsecured Term Loan D (4) — — L + 1.30% Jan-04-2023 i Total unsecured term loans 450,000 450,000 Less: Total unamortized deferred financing fees and debt issuance costs (3,735 ) (3,392 ) Total carrying value unsecured term loans, net 446,265 446,608 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 (1,766 ) (2,034 ) Total carrying value unsecured notes, net 398,234 397,966 Mortgage notes (secured debt): Union Fidelity Life Insurance Company — 5,384 5.81 % Apr-30-2017 iii Webster Bank, National Association — 2,853 3.66 % May-29-2017 iv Webster Bank, National Association — 3,073 3.64 % May-31-2017 iv Wells Fargo, National Association — 4,043 5.90 % Aug-1-2017 v Connecticut General Life Insurance Company -1 Facility — 35,320 6.50 % Feb-1-2018 vi Connecticut General Life Insurance Company -2 Facility — 36,892 5.75 % Feb-1-2018 vi Connecticut General Life Insurance Company -3 Facility — 16,141 5.88 % Feb-1-2018 vi Wells Fargo Bank, National Association CMBS Loan 54,949 56,608 4.31 % Dec-1-2022 vii Thrivent Financial for Lutherans 3,906 4,012 4.78 % Dec-15-2023 iv Total mortgage notes 58,855 164,326 Total unamortized fair market value premiums 61 112 Less: Total unamortized deferred financing fees and debt issuance costs (634 ) (873 ) Total carrying value mortgage notes, net 58,282 163,565 Total / weighted average interest rate (5) $ 1,173,781 $ 1,036,139 3.53 % (1) Current interest rate as of December 31, 2017 . At December 31, 2017 and 2016 , the one-month LIBOR (“L”) was 1.56425% and 0.77167% , 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 two months prior to the maturity date; (iv) pre-payable without penalty three 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 $450.0 million . Deferred financing fees and debt issuance costs, net of accumulated amortization related to the unsecured credit facility of approximately $1.5 million and $2.3 million are included in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets as of December 31, 2017 and 2016 , respectively. (4) Capacity of $150.0 million , which the Company has until July 27, 2018 to draw. (5) The weighted average interest rate was calculated using the fixed interest rate swapped on the current notional amount of $600.0 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 commitment on the unsecured credit facility and term loans as of December 31, 2017 was approximately $323.1 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 $5.6 million and $5.7 million as of December 31, 2017 and 2016 , respectively, and is included in accounts payable, accrued expenses and other liabilities on the accompanying Consolidated Balance Sheets. The table below sets forth the costs included in interest expense related to the Company's debt arrangements on the accompanying Consolidated Statement of Operations for the years ended December 31, 2017 , 2016 and 2015 . Year ended December 31, Costs Included in Interest Expense (in thousands) 2017 2016 2015 Amortization of deferred financing fees and debt issuance costs and fair market value premiums $ 2,087 $ 1,698 $ 1,262 Facility fees and unused fees 1,169 1,380 1,202 2017 Debt Activity On August 1, 2017, the three mortgage notes held with Connecticut General Life Insurance Company, in which multiple properties served as collateral for the mortgage notes, were paid in full. On July 28, 2017, the Company entered into a $150.0 million unsecured term loan agreement ("Unsecured Term Loan D"). As of December 31, 2017, the interest rate on the Unsecured Term Loan D was LIBOR plus a spread of 1.3% based on the Company's consolidated leverage ratio, as defined in the loan agreement. Unless otherwise terminated pursuant to the loan agreement, the Unsecured Term Loan D will mature on January 4, 2023. The Unsecured Term Loan D 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 agreement includes a delayed draw feature that allows the Company to draw up to six advances of at least $25.0 million each until July 27, 2018. To the extent that the Company does not request advances of the $150.0 million of aggregate commitments by July 27, 2018, the unadvanced commitments terminate. The Company incurred approximately $1.0 million in deferred financing fees associated with the Unsecured Term Loan D, which will begin to be amortized through the maturity date on the date that the Company draws on the Unsecured Term Loan D. The Company also is required to pay an annual fee of $35,000 . The Unsecured Term Loan D has an unused commitment fee equal to 0.15% of its unused commitments, which began to accrue on October 26, 2017 and are due and payable monthly until the earlier of (i) the date that commitments of $150.0 million have been fully advanced, (ii) July 27, 2018, and (iii) the date that commitments of $150.0 million have been reduced to zero pursuant to the Company's ability to terminate the aggregate commitments at any time upon notice. The Company and certain wholly owned subsidiaries of the Operating Partnership are guarantors of the Unsecured Term Loan D. The agreement also contains financial and other covenants substantially similar to the covenants in the Company's unsecured credit facility. On July 28, 2017, the Company entered into an amendment to its unsecured credit facility agreement and amendments to its unsecured term loan agreements to conform certain provisions to the Unsecured Term Loan D agreement. On May 30, 2017, the mortgage note held with Wells Fargo, National Association, in which the property located in Yorkville, WI served as collateral for the mortgage note, was paid in full. On March 3, 2017, the mortgage note held with Webster Bank, National Association, in which the property located in East Windsor, CT served as collateral for the mortgage note, was paid in full. On March 1, 2017, the mortgage note held with Webster Bank, National Association, in which the property located in Portland, ME served as collateral for the mortgage note, was paid in full. On March 1, 2017, the mortgage note held with Union Fidelity Life Insurance Company, in which the property located in Hazelwood, MO served as collateral for the mortgage note, was paid in full. 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 . 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. 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, 2017 and 2016 . 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, 2017 and 2016 . The real estate net book value of the properties that are collateral for the Company’s mortgage notes was approximately $90.9 million and $229.9 million at December 31, 2017 and 2016 , respectively, and is limited to senior, property-level secured debt financing arrangements. 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 2.61% to 4.40% and 1.92% to 4.85% at December 31, 2017 and 2016 , 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, 2017 and 2016 (in thousands). December 31, 2017 December 31, 2016 Principal Outstanding Fair Value Principal Outstanding Fair Value Unsecured credit facility $ 271,000 $ 271,528 $ 28,000 $ 28,000 Unsecured term loans 450,000 451,463 450,000 450,000 Unsecured notes 400,000 415,599 400,000 399,091 Mortgage notes 58,855 59,769 164,326 166,099 Total principal amount 1,179,855 $ 1,198,359 1,042,326 $ 1,043,190 Add: Total unamortized fair market value premiums 61 112 Less: Total unamortized deferred financing fees and debt issuance costs (6,135 ) (6,299 ) Total carrying value $ 1,173,781 $ 1,036,139 Future Principal Payments of Debt The following table reflects the Company’s aggregate future principal payments of the Company’s debt at December 31, 2017 . Year Future Principal Payments of Debt (in thousands) 2018 $ 1,844 2019 272,926 2020 152,006 2021 152,103 2022 197,681 Thereafter 403,295 Total aggregate principal payments 1,179,855 Add: Total unamortized fair market value premiums 61 Less: Total unamortized deferred financing fees and debt issuance costs (6,135 ) Total carrying value $ 1,173,781

Use of Derivative Financial Ins

Use of Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2017
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, 2017 . All of the Company's interest rate swaps are designated as qualifying cash flow hedges. Interest Rate Trade Date Effective Date Notional Amount Fair Value Pay Fixed Interest Rate Receive Variable Interest Rate Maturity Date Regions Bank Mar-01-2013 Mar-01-2013 $ 25,000 $ 331 1.3300 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Jul-01-2013 $ 50,000 $ 293 1.6810 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Aug-01-2013 $ 25,000 $ 135 1.7030 % One-month L Feb-14-2020 Regions Bank Sep-30-2013 Feb-03-2014 $ 25,000 $ (18 ) 1.9925 % One-month L Feb-14-2020 The Toronto-Dominion Bank Oct-14-2015 Sep-29-2016 $ 25,000 $ 427 1.3830 % One-month L Sep-29-2020 PNC Bank, N.A. Oct-14-2015 Sep-29-2016 $ 50,000 $ 845 1.3906 % One-month L Sep-29-2020 Regions Bank Oct-14-2015 Sep-29-2016 $ 35,000 $ 596 1.3858 % One-month L Sep-29-2020 U.S. Bank, N.A. Oct-14-2015 Sep-29-2016 $ 25,000 $ 421 1.3950 % One-month L Sep-29-2020 Capital One, N.A. Oct-14-2015 Sep-29-2016 $ 15,000 $ 252 1.3950 % One-month L Sep-29-2020 Royal Bank of Canada Jan-08-2015 Mar-20-2015 $ 25,000 $ 266 1.7090 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Mar-20-2015 $ 25,000 $ 263 1.7105 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Sep-10-2017 $ 100,000 $ (566 ) 2.2255 % One-month L Mar-21-2021 Wells Fargo, N.A. Jan-08-2015 Mar-20-2015 $ 25,000 $ 276 1.8280 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jan-08-2015 Feb-14-2020 $ 25,000 $ (107 ) 2.4535 % One-month L Mar-31-2022 Regions Bank Jan-08-2015 Feb-14-2020 $ 50,000 $ (236 ) 2.4750 % One-month L Mar-31-2022 Capital One, N.A. Jan-08-2015 Feb-14-2020 $ 50,000 $ (290 ) 2.5300 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jul-20-2017 Oct-30-2017 $ 25,000 $ 327 1.8485 % One-month L Jan-04-2023 Royal Bank of Canada Jul-20-2017 Oct-30-2017 $ 25,000 $ 329 1.8505 % One-month L Jan-04-2023 Wells Fargo, N.A. Jul-20-2017 Oct-30-2017 $ 25,000 $ 329 1.8505 % One-month L Jan-04-2023 PNC Bank, N.A. Jul-20-2017 Oct-30-2017 $ 25,000 $ 329 1.8485 % One-month L Jan-04-2023 PNC Bank, N.A. Jul-20-2017 Oct-30-2017 $ 50,000 $ 660 1.8475 % One-month L Jan-04-2023 The fair value of the interest rate swaps outstanding as of December 31, 2017 and 2016 was as follows. Balance Sheet Line Item (in thousands) Notional Amount December 31, 2017 Fair Value December 31, 2017 Notional Amount December 31, 2016 Fair Value December 31, 2016 Interest rate swaps-Asset $ 475,000 $ 6,079 $ 300,000 $ 1,471 Interest rate swaps-Liability $ 250,000 $ (1,217 ) $ 375,000 $ (2,438 ) 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 as qualifying cash flow hedges is recorded in accumulated other comprehensive income (loss) and will be reclassified to interest expense in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings into interest expense. For the years ended December 31, 2017 and 2016 , the Company recorded a gain of $0.2 million and $0.1 million , respectively, of hedge ineffectiveness in interest expense due to short-term, partial mismatches in notional amounts. For the year ended December 31, 2015 , the Company did not record any hedge ineffectiveness related to the hedged derivatives. Amounts reported in accumulated other comprehensive income (loss) related to derivatives designated as qualifying cash flow hedges will be reclassified to interest expense as interest payments are made on the Company's variable rate debt. The Company estimates that approximately $0.1 million will be reclassified from accumulated other comprehensive income (loss) as a decrease 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, 2017 , 2016 and 2015 , (in thousands). Year ended December 31, 2017 2016 2015 Amount of gain (loss) recognized in accumulated other comprehensive income (loss) on interest rate swaps (effective portion) $ 3,597 $ (2,244 ) $ (5,387 ) Amount of loss reclassified from accumulated other comprehensive income (loss) into income (loss) as interest expense (effective portion) $ 2,073 $ 3,142 $ 3,431 Amount of gain recognized in interest expense (ineffective portion) $ 190 $ 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, 2017 , the Company had not breached the provisions of these agreements and has not posted any collateral related to these agreements. As of December 31, 2017 , the Company had no derivatives that were in a net liability position by counterparty. 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, 2017 and 2016 , 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 tables set forth the Company’s financial instruments that are accounted for at fair value on a recurring basis as of December 31, 2017 and 2016 . Fair Value Measurements as of Balance Sheet Line Item (in thousands) Fair Value December 31, 2017 Level 1 Level 2 Level 3 Interest rate swaps-Asset $ 6,079 $ — $ 6,079 $ — Interest rate swaps-Liability $ (1,217 ) $ — $ (1,217 ) $ — 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 ) $ —

Equity

Equity	12 Months Ended
	Dec. 31, 2017
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. The following table sets forth the Company's outstanding preferred stock issuances as of December 31, 2017 . Preferred Stock Issuances Issuance Date Number of Shares 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 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 Company's outstanding preferred stock issuances during the years ended December 31, 2017 and 2016 . Quarter Ended 2017 Declaration Date Series B Series C Payment Date December 31 November 2, 2017 $ 0.4140625 $ 0.4296875 December 29, 2017 September 30 July 31, 2017 0.4140625 0.4296875 September 29, 2017 June 30 May 1, 2017 0.4140625 0.4296875 June 30, 2017 March 31 February 15, 2017 0.4140625 0.4296875 March 31, 2017 Total $ 1.6562500 $ 1.7187500 Quarter Ended 2016 Declaration Date Series A Preferred Stock Per Share Series B Preferred Stock Per Share Series C Preferred Stock Per Share 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 November 2, 2016, the Company redeemed all of the outstanding shares 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. On February 14, 2018 , the Company’s board of directors declared the Series B Preferred Stock and Series C Preferred Stock dividend for the quarter ending March 31, 2018 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 program as of December 31, 2017 . ATM Common Stock Offering Program Date Maximum Aggregate Offering Price (in thousands) Aggregate Common Stock Available as of 2017 $500 million ATM November 13, 2017 $ 500,000 $ 489,674 The table below sets forth the activity for the ATM common stock offering programs during the years ended December 31, 2017 and 2016 (in thousands, except share data). Year ended December 31, 2017 ATM Common Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2017 $500 million ATM 363,843 $ 28.38 $ 10,326 $ 129 $ 10,197 2017 $300 million ATM (1) 11,098,748 $ 27.03 $ 300,000 $ 3,637 $ 296,363 2016 $228 million ATM (1) 4,799,784 $ 24.42 $ 117,216 $ 1,604 $ 115,612 Total/weighted average 16,262,375 $ 26.29 $ 427,542 $ 5,370 $ 422,172 (1) This program ended before December 31, 2017 . Year ended December 31, 2016 ATM Common Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2016 $228 million ATM (1) 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) These programs ended before December 31, 2017 . Dividends The tables below set forth the dividends attributable to the common stock that were declared or paid during the years ended December 31, 2017 and 2016 . The Company's board of directors may alter the amounts of dividends paid or suspend dividend payments at any time and therefore dividend payments are not assured. Month Ended 2017 Declaration Date Record Date Per Share Payment Date December 31 July 31, 2017 December 29, 2017 $ 0.117500 January 16, 2018 November 30 July 31, 2017 November 30, 2017 0.117500 December 15, 2017 October 31 July 31, 2017 October 31, 2017 0.117500 November 15, 2017 September 30 May 1, 2017 September 29, 2017 0.117500 October 16, 2017 August 31 May 1, 2017 August 31, 2017 0.117500 September 15, 2017 July 31 May 1, 2017 July 31, 2017 0.117500 August 15, 2017 June 30 February 15, 2017 June 30, 2017 0.116667 July 17, 2017 May 31 February 15, 2017 May 31, 2017 0.116667 June 15, 2017 April 30 February 15, 2017 April 28, 2017 0.116667 May 15, 2017 March 31 November 2, 2016 March 31, 2017 0.116667 April 17, 2017 February 28 November 2, 2016 February 28, 2017 0.116667 March 15, 2017 January 31 November 2, 2016 January 31, 2017 0.116667 February 15, 2017 Total $ 1.405002 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 On November 2, 2017 , the Company’s board of directors declared the common stock dividend for the months ending January 31, 2018 , February 28, 2018 and March 31, 2018 at a monthly rate of $0.118333 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 12, 2015, subject to the recipient’s continued employment, will vest in three equal installments on each anniversary date of the grant. Restricted shares of common stock granted on January 8, 2016 and January 6, 2017, subject to the recipient’s continued employment, will vest in four equal installments on January 1 of each year beginning in 2017 and 2018, respectively. Refer to Note 14 for details on restricted shares of common stock granted on January 5, 2018 . 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, 2017 , 2016 and 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 Granted 75,001 (3) Vested (109,209 ) Forfeited (922 ) Balance at December 31, 2017 237,207 (1) The grant date fair value per share was $26.17 . (2) The grant date fair value per share was $17.98 . (3) The grant date fair value per share was $24.41 . The unrecognized compensation expense associated with the Company’s restricted shares of common stock at December 31, 2017 was approximately $2.7 million and is expected to be recognized over a weighted average period of approximately 2.4 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, 2017 , 2016 and 2015 . Year ended December 31, 2017 2016 2015 Vested restricted shares of common stock 109,209 98,746 72,185 Fair value of vested restricted shares of common stock (in thousands) $ 2,591 $ 1,813 $ 1,751

Noncontrolling Interest

Noncontrolling Interest	12 Months Ended
	Dec. 31, 2017
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, 2017 , 2016 and 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 % Granted/Issued 126,239 687,827 814,066 N/A Forfeitures — — — N/A Conversions from LTIP units to Other Common Units (245,685 ) 245,685 — N/A Redemptions from Other Common Units to common stock — (351,260 ) (351,260 ) N/A Balance at December 31, 2017 1,457,070 2,639,617 4,096,687 4.1 % 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 12, 2015 to certain executive officers and senior employees, subject to the recipient’s continued employment, will vest quarterly over three years, with the first vesting date being March 31, 2015. LTIP units granted on January 12, 2015 to independent directors, subject to the recipient’s continued service, will vest on January 12, 2016. LTIP units granted on January 6, 2017, January 8, 2016, and February 22, 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, 2017, March 31, 2016, and March 31, 2016, respectively. LTIP units granted on January 6, 2017 and January 6, 2016 to independent directors, subject to the recipient’s continued service, will vest on January 1, 2018 and January 1, 2017, respectively. Refer to Note 14 for details on the LTIP units granted on January 5, 2018 . 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. 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, 2017 , 2016 and 2015 . LTIP Units Assumptions Grant date January 6, 2017 February 22, 2016 January 8, 2016 January 6, 2016 May 4, 2015 January 12, 2015 Expected term (years) 10 10 10 10 10 10 Expected volatility 23.0 % 22.0 % 22.0 % 22.0 % 20.0 % 20.0 % Expected dividend yield 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Risk-free interest rate 1.61 % 1.01 % 1.28 % 1.36 % 0.66 % 0.62 % Fair value of LTIP units at issuance (in thousands) $ 2,924 $ 277 $ 2,254 $ 390 $ 2,038 $ 5,450 LTIP units at issuance 126,239 18,386 135,546 22,464 100,000 223,069 Fair value unit price per LTIP unit at issuance $ 23.16 $ 15.07 $ 16.63 $ 17.36 $ 20.38 $ 24.43 The following table summarizes activity related to the Company’s unvested LTIP units for the years ended December 31, 2017 , 2016 and 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 Granted 126,239 Vested (229,355 ) Forfeited — Balance at December 31, 2017 300,307 The unrecognized compensation expense associated with the Company’s LTIP units at December 31, 2017 was approximately $4.8 million and is expected to be recognized over a weighted average period of approximately 2.6 years . The following table summarizes the fair value at vesting date for the LTIP units vested during years ended December 31, 2017 , 2016 and 2015 . Year ended December 31, 2017 2016 2015 Vested LTIP units 229,355 307,883 237,046 Fair value of vested LTIP units (in thousands) $ 6,101 $ 6,393 $ 4,853 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. When redeeming the Other Common Unit for cash, 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 May 31, 2017 , the Company granted 687,827 Other Common Units with a fair value of approximately $18.6 million . The number of Other Common Units granted was calculated based on the trailing five -day average common stock closing price ending on the second business day that immediately preceded the grant date. As partial consideration for a 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. 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. The number of Other Common Units granted for the 2015 transactions 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, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Incentive Plan	Equity Incentive 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 January 6, 2017, 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 terms of the January 6, 2017 performance units grant is substantially the same as the March 8, 2016 performance units grant as discussed below, except that the measuring period commences on January 1, 2017 and ends on December 31, 2019. Refer to Note 14 for details on the performance units granted on January 5, 2018 . 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 determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation. The fair value of the performance units are based on Level 3 inputs and are non-recurring fair value measurements. The performance unit equity compensation expense is recognized into earnings ratably from the grant date over the respective vesting periods. The table below sets forth the assumptions used in valuing the performance units granted during the years ended December 31, 2017 and 2016 . Performance Units Assumptions Grant date January 6, 2017 March 8, 2016 Expected volatility 23.0 % 23.0 % Expected dividend yield 6.0 % 6.0 % Risk-free interest rate 1.61 % 1.08 % Fair value of performance units grant (in thousands) $ 2,882 $ 2,614 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. On January 1, 2018, the Company’s three year measurement period pursuant to the 2015 OPP concluded; refer to Note 14 for details. Recipients of awards under the 2015 OPP will share in an outperformance pool if the Company’s TSR, 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 TSR over the measurement period equals or exceeds 25% (the “threshold percentage”), the outperformance pool consists of 10% of the excess TSR above an absolute TSR 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 Level 3 inputs 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 Company's Performance-based Compensation Plans at December 31, 2017 was approximately $3.1 million and is expected to be recognized over a weighted average period of approximately 2.1 years . Non-cash Compensation Expense The following table summarizes the amount recorded in general and administrative expenses in the accompanying Consolidated Statements of Operations for the amortization of restricted shares of common stock, LTIP units, Performance-based Compensation Plans, and the Company’s board of directors’ compensation for the years ended December 31, 2017 , 2016 and 2015 . Year ended December 31, Non-Cash Compensation Expense (in thousands) 2017 2016 2015 Restricted shares of common stock $ 2,373 $ 2,157 $ 1,932 LTIP units 4,675 6,089 (1) 4,774 Performance-based Compensation Plans 2,147 1,137 523 Board of directors compensation (2) 352 346 349 Total non-cash compensation expense $ 9,547 $ 9,729 $ 7,578 (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) 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, 2017 , 2016 and 2015 . 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, 2017 and 2016 , the number of shares available for issuance under the 2011 Plan were 983,735 and 1,156,578 , respectively. The number of shares available for issuance under the 2011 Plan do not include an allocation for the Performance-based Compensation Plans as the awards were not determinable as of December 31, 2017 and 2016 . On January 1, 2018, the Company’s three year measurement period pursuant to the 2015 OPP concluded; refer to Note 14 for details.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2017
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, 2017 , 2016 and 2015 , there were 237,896 , 276,367 and 280,839 , respectively, unvested shares of restricted stock on a weighted average basis that were considered participating securities. Participating securities are included in the computation of diluted EPS using the treasury stock method if the impact is dilutive. Other potentially dilutive common shares from the Company's Performance-based Compensation Plans are considered when calculating diluted EPS. The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2017 , 2016 and 2015 . Year ended December 31, Earnings Per Share (in thousands, except share data) 2017 2016 2015 Numerator Net income (loss) $ 32,200 $ 35,588 $ (29,345 ) Less: preferred stock dividends 9,794 13,897 10,848 Less: amount allocated to participating securities 334 384 385 Less: income (loss) attributable to noncontrolling interest after preferred stock dividends 941 1,069 (1,962 ) Net income (loss) attributable to common stockholders $ 21,131 $ 20,238 $ (38,616 ) Denominator Weighted average common shares outstanding — basic 89,537,714 70,637,185 66,307,972 Effect of dilutive securities (1) Share-based compensation 465,845 215,363 — Weighted average common shares outstanding — diluted 90,003,559 70,852,548 66,307,972 Net income (loss) per share — basic and diluted Net income (loss) per share attributable to common stockholders — basic $ 0.24 $ 0.29 $ (0.58 ) Net income (loss) per share attributable to common stockholders — diluted $ 0.23 $ 0.29 $ (0.58 ) (1) During the years ended December 31, 2017 , 2016 and 2015 , there were 237,896 , 276,367 , and 280,839 , unvested shares of restricted common stock, respectively, on a weighted average basis that were not included in the computation of diluted earnings per share because to do so would have been antidilutive for the period. During the year ended December 31, 2015 , there were no unvested shares of Performance-based Compensation Plans on a weighted average basis that were included in the computation of diluted earnings per share because to do so would have been antidilutive for the period.

Future Minimum Rents

Future Minimum Rents	12 Months Ended
	Dec. 31, 2017
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, 2017 are approximately as follows. Year Future Minimum Rents (in thousands) 2018 $ 263,703 2019 $ 235,967 2020 $ 203,058 2021 $ 158,243 2022 $ 126,990 Thereafter $ 442,259

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
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 were met. The measurement period for the incentive fee ended on May 31, 2017. The incentive fee was settled in cash during the year ended December 31, 2017 and an incentive fee loss of approximately $0.7 million for the year ended December 31, 2017 is included in other expenses on the accompanying Consolidated Statements of Operations. As of December 31, 2016 , the fair value of the incentive fee was zero . The estimated fair value as of December 31, 2016 was calculated using the discounted cash flow method under the income approach using the following Level 3 inputs: discount rates of 8.0% to 12.0% and exit capitalization rates of 7.0% to 12.0% . The Company has letters of credit of approximately $5.9 million as of December 31, 2017 related to development projects and certain other agreements. 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, 2017 are as follows. To the extent any tenant is responsible for those costs under its respective lease, those costs have been excluded from the table below. Year Future Minimum Rental Payments (1) (in thousands) 2018 $ 1,962 2019 $ 2,000 2020 $ 2,015 2021 $ 1,120 2022 $ 817 Thereafter $ 31,488 (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, 2017
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, 2017 , 2016 and 2015 was approximately $0.3 million , $0.4 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, 2017
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions STAG Industrial Management, LLC ("Manager"), a wholly owned subsidiary of the Company, was performing certain asset management services for STAG Investments II, LLC (“Fund II”), a private, fully-invested fund that was an affiliate of the Company, that as of December 31, 2017 was legally dissolved. The Manager was paid an annual asset management fee based on the equity investment in the Fund II assets, which was 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. As of December 31, 2017, the Company no longer earned asset management fees. The Company recognized asset management fee income of approximately $0.1 million , $0.2 million and $0.4 million for the years ended December 31, 2017 , 2016 and 2015 , respectively, which is included in other income on the accompanying Consolidated Statements of Operations. As of December 31, 2017 and 2016 , the Company had a receivable in the amount of approximately $0 and $48,000 , respectively, related to the asset management fee income included within prepaid expenses and other assets on the accompanying Consolidated Balance Sheets.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2017
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 5, 2018 , the Company granted 76,659 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 2019. The fair value of the restricted shares of common stock at the date of grant was $26.40 per share. On January 5, 2018 , the Company granted 21,552 LTIP units to non-employee, independent directors, and 116,064 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, 2019. 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, 2018. The fair value of the LTIP units at the date of grant was approximately $3.4 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 22.0% , a weighted average expected dividend yield of 6.0% , and a weighted average risk-free interest rate of 2.09% . The fair value of the LTIP units are based on Level 3 inputs and are non-recurring fair value measurements. On January 5, 2018 , the Company granted performance units to certain executive officers and senior employees pursuant to the 2011 Plan. The terms of the January 5, 2018 performance units grant is substantially the same as the January 6, 2017 performance units grant as discussed in Note 8, except that the measuring period commences on January 1, 2018 and ends on December 31, 2020. The fair value of the performance units at the date of grant was approximately $5.5 million , as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation using a weighted average volatility factor of 22.0% , a weighted average expected dividend yield of 6.0% , and a weighted average risk-free interest rate of 2.09% . The fair value of the performance units are based on Level 3 inputs and are non-recurring fair value measurements. On January 1, 2018, the Company’s three year measurement period pursuant to the 2015 OPP concluded. It was determined that the Company's TSR exceeded the threshold percentage and return hurdle and a pool of approximately $6.2 million was awarded to the participants. The compensation committee of the board of directors approved the issuance of 183,256 vested LTIP units and 53,722 vested shares of common stock (of which 15,183 shares of common stock were repurchased and retired) to the participants, which were issued on January 5, 2018 .

Schedule 2 - Valuation and Qual

Schedule 2 - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2017
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	STAG Industrial, Inc. Schedule II—Valuation and Qualifying Accounts (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, 2017 $ 188 $ 123 $ — $ 311 December 31, 2016 $ 106 $ 125 $ (43 ) $ 188 December 31, 2015 $ 104 $ 190 $ (188 ) $ 106

Schedule 3 - Real Estate and Ac

Schedule 3 - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2017
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, 2017 (in thousands) Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2017 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 $ (27 ) 2006 Albion, IN — 932 103 — 932 103 1,035 (271 ) 2006 Albion, IN — 1,107 55 — 1,107 55 1,162 (322 ) 2006 Albion, IN — 970 332 — 970 332 1,302 (282 ) 2006 Albion, IN — 1,397 52 — 1,397 52 1,449 (407 ) 2006 Albion, IN — 1,528 126 — 1,528 126 1,654 (445 ) 2006 Kendallville, IN — 1,510 142 — 1,510 142 1,652 (440 ) 2006 Albion, IN — 710 187 — 710 187 897 (207 ) 2006 Alexandria, MN — 5,855 960 151 6,006 960 6,966 (1,077 ) 2008 Allentown, PA — 7,336 1,962 783 8,119 1,962 10,081 (1,196 ) 2014 Arlington, TX — 2,374 413 304 2,678 413 3,091 (664 ) 2007 Arlington, TX — 6,151 1,246 913 7,064 1,246 8,310 (1,042 ) 2012 Avon, CT — 2,750 336 483 3,233 336 3,569 (460 ) 2012 Avondale, AZ — 13,163 1,674 — 13,163 1,674 14,837 (37 ) 2017 Batavia, IL — 4,273 618 — 4,273 618 4,891 (110 ) 2017 Bedford Heights, OH — 5,279 837 520 5,799 837 6,636 (190 ) 2017 Belfast, ME — 10,331 1,883 487 10,818 1,883 12,701 (1,958 ) 2008 Belvidere, IL — 4,083 442 255 4,338 442 4,780 (347 ) 2015 Belvidere, IL — 16,914 2,341 — 16,914 2,341 19,255 (397 ) 2017 Belvidere, IL — 3,956 733 36 3,992 733 4,725 (528 ) 2013 Belvidere, IL — 3,436 1,310 — 3,436 1,310 4,746 (595 ) 2013 Belvidere, IL — 3,517 538 114 3,631 538 4,169 (433 ) 2013 Belvidere, IL — 6,899 670 — 6,899 670 7,569 (868 ) 2013 Belvidere, IL — 4,299 668 — 4,299 668 4,967 (577 ) 2013 Belvidere, IL — 3,711 866 159 3,870 866 4,736 (566 ) 2013 Belvidere, IL — 2,808 586 22 2,830 586 3,416 (446 ) 2013 Belvidere, IL — 8,303 1,542 591 8,894 1,542 10,436 (1,270 ) 2013 Belvidere, IL — 71 216 — 71 216 287 (71 ) 2013 Belleville, MI — 6,524 724 — 6,524 724 7,248 (96 ) 2017 Biddeford, ME — 8,164 1,369 3,916 12,080 1,369 13,449 (827 ) 2016 Boardman, OH — 3,473 282 834 4,307 282 4,589 (1,172 ) 2007 Brooklyn Park, MN — 11,988 1,926 — 11,988 1,926 13,914 (427 ) 2016 Buena Vista, VA — 2,500 534 635 3,135 534 3,669 (567 ) 2012 Buffalo, NY — 2,924 146 — 2,924 146 3,070 (455 ) 2012 Burlington, NJ — 42,652 5,135 79 42,731 5,135 47,866 (3,810 ) 2015 Burlington, NJ — 19,577 4,030 1,238 20,815 4,030 24,845 (1,957 ) 2015 Calhoun, GA — 2,764 388 — 2,764 388 3,152 (297 ) 2014 Camarillo, CA — 10,785 7,242 237 11,022 7,242 18,264 (1,394 ) 2014 Camarillo, CA — 19,857 7,989 25 19,882 7,989 27,871 (2,324 ) 2014 Cedar Hill, TX — 11,971 4,066 — 11,971 4,066 16,037 (886 ) 2016 Charlotte, NC — 8,768 3,535 3,306 12,074 3,535 15,609 (2,630 ) 2010 Charlotte, NC — 2,443 805 4 2,447 805 3,252 (345 ) 2014 Charlotte, NC — 3,554 386 287 3,841 386 4,227 (452 ) 2014 Charlotte, NC — 3,961 515 — 3,961 515 4,476 (283 ) 2015 Charlotte, NC — 4,445 678 — 4,445 678 5,123 (257 ) 2016 Chattanooga, TN — 2,321 187 — 2,321 187 2,508 (265 ) 2015 Chattanooga, TN — 4,730 380 13 4,743 380 5,123 (540 ) 2015 Chattanooga, TN — 8,459 424 — 8,459 424 8,883 (1,100 ) 2015 Cheektowaga, NY — 2,757 216 808 3,565 216 3,781 (713 ) 2008 Chesterfield, MI — 1,169 207 62 1,231 207 1,438 (420 ) 2007 Chesterfield, MI — 798 150 128 926 150 1,076 (232 ) 2007 Chesterfield, MI — 802 151 224 1,026 151 1,177 (301 ) 2007 Chesterfield, MI — 5,304 942 2,150 7,454 942 8,396 (2,054 ) 2007 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2017 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 Chester, VA — 3,402 775 — 3,402 775 4,177 (613 ) 2014 Chicopee, MA — 5,867 504 77 5,944 504 6,448 (1,020 ) 2012 Chippewa Falls, WI — 2,303 133 — 2,303 133 2,436 (416 ) 2011 Chippewa Falls, WI — 544 44 — 544 44 588 (96 ) 2011 Cincinnati, OH — 2,395 119 895 3,290 119 3,409 (1,866 ) 2007 Cleveland, TN — 3,161 554 84 3,245 554 3,799 (638 ) 2011 Clinton, PA — 19,339 — — 19,339 — 19,339 (382 ) 2017 Clinton, TN — 3,302 403 78 3,380 403 3,783 (493 ) 2015 Columbus, OH — 5,222 337 — 5,222 337 5,559 (76 ) 2017 Columbus, OH — 3,123 489 167 3,290 489 3,779 (594 ) 2014 Columbia, SC — 5,171 783 — 5,171 783 5,954 (367 ) 2016 West Columbia, SC — 6,988 715 868 7,856 715 8,571 (1,006 ) 2013 Council Bluffs, IA — 4,438 414 — 4,438 414 4,852 (38 ) 2017 Dallas, GA — 1,712 475 — 1,712 475 2,187 (311 ) 2012 LaGrange, GA — 3,175 240 331 3,506 240 3,746 (711 ) 2007 Danville, KY — 11,772 965 3,699 15,471 965 16,436 (2,722 ) 2007 Daytona Beach, FL — 875 1,237 1,711 2,586 1,237 3,823 (760 ) 2007 Dayton, OH — 5,896 331 391 6,287 331 6,618 (598 ) 2015 Dayton, OH — 23,725 2,465 — 23,725 2,465 26,190 (707 ) 2017 DeForest, WI — 5,402 1,131 151 5,553 1,131 6,684 (262 ) 2016 DeKalb, IL — 4,568 489 — 4,568 489 5,057 (669 ) 2013 De Pere, WI — 6,144 525 — 6,144 525 6,669 (1,056 ) 2012 Duncan, SC — 11,258 1,002 745 12,003 1,002 13,005 (2,070 ) 2012 Duncan, SC — 6,739 709 81 6,820 709 7,529 (1,028 ) 2012 Durham, NC — 2,700 753 31 2,731 753 3,484 (291 ) 2015 Earth City, MO — 2,806 1,123 60 2,866 1,123 3,989 (176 ) 2016 Edgefield, SC — 938 220 750 1,688 220 1,908 (325 ) 2012 Edwardsville, KS — 13,224 1,360 — 13,224 1,360 14,584 (300 ) 2017 Elizabethtown, PA — 5,357 1,000 152 5,509 1,000 6,509 (605 ) 2014 Elkhart, IN — 210 25 143 353 25 378 (71 ) 2007 Elkhart, IN — 3,519 422 571 4,090 422 4,512 (1,005 ) 2007 El Paso, TX — 3,674 — — 3,674 — 3,674 (17 ) 2017 El Paso, TX — 10,398 — — 10,398 — 10,398 (49 ) 2017 El Paso, TX — 9,099 1,248 26 9,125 1,248 10,373 (1,048 ) 2014 El Paso, TX — 7,905 1,124 — 7,905 1,124 9,029 (1,096 ) 2014 El Paso, TX — 14,159 1,854 812 14,971 1,854 16,825 (1,685 ) 2014 El Paso, TX — 9,897 1,581 99 9,996 1,581 11,577 (1,102 ) 2014 El Paso, TX — 5,893 1,136 — 5,893 1,136 7,029 (554 ) 2015 El Paso, TX — 3,096 — 1,088 4,184 — 4,184 (721 ) 2012 Erlanger, KY — 3,826 635 6 3,832 635 4,467 (291 ) 2016 East Troy, WI — 4,962 304 — 4,962 304 5,266 (530 ) 2014 East Windsor, CT — 5,711 400 72 5,783 400 6,183 (284 ) 2016 East Windsor, CT — 4,713 348 614 5,327 348 5,675 (1,264 ) 2012 Fairborn, OH — 5,650 867 — 5,650 867 6,517 (779 ) 2015 Fairfield, OH — 2,842 948 17 2,859 948 3,807 (298 ) 2016 Farmington, NY — 5,342 410 20 5,362 410 5,772 (1,447 ) 2007 Forest Park, GA — 9,527 1,733 744 10,271 1,733 12,004 (590 ) 2016 Forest Park, GA — 8,189 1,715 127 8,316 1,715 10,031 (431 ) 2016 Fort Wayne, IN — 3,142 112 — 3,142 112 3,254 (359 ) 2014 Fort Worth, TX — 2,965 389 752 3,717 389 4,106 (700 ) 2011 Gaffney, SC — 4,712 1,233 85 4,797 1,233 6,030 (173 ) 2017 Gahanna, OH — 4,191 1,265 1,258 5,449 1,265 6,714 (1,290 ) 2011 Gardiner, ME — 8,983 948 — 8,983 948 9,931 (565 ) 2016 Garland, TX — 5,425 1,344 294 5,719 1,344 7,063 (889 ) 2014 Garland, TX — 6,058 1,542 586 6,644 1,542 8,186 (577 ) 2015 Germantown, WI — 6,035 1,186 — 6,035 1,186 7,221 (964 ) 2014 Gloversville, NY (714 ) 1,299 117 — 1,299 117 1,416 (208 ) 2012 Gloversville, NY (1,154 ) 2,603 151 — 2,603 151 2,754 (420 ) 2012 Gloversville, NY (824 ) 1,486 154 36 1,522 154 1,676 (238 ) 2012 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2017 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 Golden, CO — 6,164 742 261 6,425 742 7,167 (844 ) 2013 Goshen, IN — 6,509 1,442 1,768 8,277 1,442 9,719 (1,446 ) 2010 Grand Junction, CO — 4,002 314 — 4,002 314 4,316 (334 ) 2015 Grand Rapids, MI — 7,532 169 34 7,566 169 7,735 (739 ) 2015 Graniteville, SC — 8,389 1,629 — 8,389 1,629 10,018 (685 ) 2016 Greenwood, SC (1,484 ) 1,848 166 — 1,848 166 2,014 (285 ) 2012 Greenwood, SC (1,264 ) 1,232 169 290 1,522 169 1,691 (241 ) 2012 Fountain Inn, SC — 13,511 1,878 — 13,511 1,878 15,389 (85 ) 2017 Greenville, SC — 3,379 309 35 3,414 309 3,723 (342 ) 2015 Greer, SC — 1,434 129 303 1,737 129 1,866 (148 ) 2015 Greer, SC — 1,748 128 64 1,812 128 1,940 (162 ) 2015 Greer, SC — 460 153 25 485 153 638 (43 ) 2015 Greer, SC — 3,016 306 99 3,115 306 3,421 (305 ) 2015 Fountain Inn, SC — 4,438 719 95 4,533 719 5,252 (458 ) 2016 Groveport, OH — 10,920 642 84 11,004 642 11,646 (149 ) 2017 Grove City, OH — 3,974 730 — 3,974 730 4,704 (300 ) 2016 Gurnee, IL — 11,380 1,716 211 11,591 1,716 13,307 (1,241 ) 2014 Gurnee, IL — 4,902 1,337 954 5,856 1,337 7,193 (1,109 ) 2012 Hampstead, MD — 34,969 780 — 34,969 780 35,749 (4,607 ) 2013 Harrisonburg, VA — 11,179 1,455 144 11,323 1,455 12,778 (1,603 ) 2012 Hartland, WI — 4,634 1,526 — 4,634 1,526 6,160 (249 ) 2016 Harvard, IL — 2,980 1,157 — 2,980 1,157 4,137 (778 ) 2013 Hazelwood, MO — 5,815 1,382 1,391 7,206 1,382 8,588 (1,594 ) 2011 Hebron, KY — 4,601 370 — 4,601 370 4,971 (607 ) 2014 Hilliard, OH — 7,412 550 8 7,420 550 7,970 (52 ) 2017 Holland, MI (3,067 ) 3,475 279 60 3,535 279 3,814 (715 ) 2012 Houston, TX — 7,790 2,255 9 7,799 2,255 10,054 (1,123 ) 2013 Houston, TX — 4,906 1,428 17 4,923 1,428 6,351 (817 ) 2014 Houston, TX — 5,019 565 780 5,799 565 6,364 (1,009 ) 2014 Houston, TX — 8,448 2,546 158 8,606 2,546 11,152 (374 ) 2016 Houston, TX — 5,037 1,502 — 5,037 1,502 6,539 (219 ) 2017 Houston, TX — 5,564 953 — 5,564 953 6,517 (197 ) 2017 Houston, TX — 7,052 927 — 7,052 927 7,979 (152 ) 2017 Huntersville, NC — 3,123 1,061 109 3,232 1,061 4,293 (483 ) 2012 Idaho Falls, ID — 2,735 356 — 2,735 356 3,091 (450 ) 2013 Independence, VA (1,379 ) 2,212 226 110 2,322 226 2,548 (524 ) 2012 Itasca, IL — 12,216 2,428 5 12,221 2,428 14,649 (668 ) 2016 Jackson, TN — 2,374 230 337 2,711 230 2,941 (473 ) 2012 Jacksonville, FL — 3,438 451 410 3,848 451 4,299 (164 ) 2017 Jacksonville, FL — 7,867 650 161 8,028 650 8,678 (328 ) 2017 Jacksonville, FL — 8,195 674 1,557 9,752 674 10,426 (399 ) 2017 Jacksonville, FL — 7,266 596 1,016 8,282 596 8,878 (327 ) 2017 Janesville, WI — 17,477 828 530 18,007 828 18,835 (2,758 ) 2013 Jefferson City, TN — 8,494 1,350 — 8,494 1,350 9,844 (1,893 ) 2014 Johnstown, NY (714 ) 1,304 178 — 1,304 178 1,482 (227 ) 2012 Johnstown, NY (1,044 ) 1,592 216 — 1,592 216 1,808 (228 ) 2012 Johnstown, NY (852 ) 978 151 — 978 151 1,129 (206 ) 2012 Johnstown, NY (1,594 ) 1,467 140 — 1,467 140 1,607 (257 ) 2012 Kansas City, MO — 5,539 703 92 5,631 703 6,334 (730 ) 2012 Kenosha, WI — 3,991 797 — 3,991 797 4,788 (253 ) 2016 Kentwood, MI — 2,478 407 — 2,478 407 2,885 (377 ) 2013 Knoxville, TN — 3,201 447 — 3,201 447 3,648 (421 ) 2015 Lafayette, IN (1,182 ) 2,205 295 79 2,284 295 2,579 (328 ) 2012 Lafayette, IN (2,006 ) 3,405 410 123 3,528 410 3,938 (487 ) 2012 Lafayette, IN (4,122 ) 8,135 906 261 8,396 906 9,302 (1,428 ) 2012 Lancaster, PA — 5,480 1,520 — 5,480 1,520 7,000 (1,014 ) 2015 Langhorne, PA — 3,868 1,370 36 3,904 1,370 5,274 (294 ) 2016 Langhorne, PA — 3,105 1,308 33 3,138 1,308 4,446 (287 ) 2016 Langhorne, PA — 6,372 1,884 1 6,373 1,884 8,257 (305 ) 2016 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2017 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 Lansing, MI — 8,164 501 — 8,164 501 8,665 (1,592 ) 2011 Lansing, MI — 4,077 580 — 4,077 580 4,657 (681 ) 2012 Lansing, MI (5,496 ) 7,162 429 — 7,162 429 7,591 (1,149 ) 2012 Lansing, MI — 5,209 907 — 5,209 907 6,116 (809 ) 2013 Laredo, TX — 10,195 1,535 — 10,195 1,535 11,730 (238 ) 2017 Las Vegas, NV — 3,259 770 — 3,259 770 4,029 (40 ) 2017 Laurens, SC — 4,254 151 — 4,254 151 4,405 (349 ) 2015 Lebanon, PA — 5,235 1,380 — 5,235 1,380 6,615 (509 ) 2017 Lenexa, KS — 7,610 2,368 — 7,610 2,368 9,978 (1,340 ) 2014 Lewiston, ME — 5,515 173 1,525 7,040 173 7,213 (2,067 ) 2007 Lexington, NC — 3,968 232 688 4,656 232 4,888 (851 ) 2008 Libertyville, IL — 6,455 421 80 6,535 421 6,956 (649 ) 2015 Libertyville, IL — 770 143 9 779 143 922 (264 ) 2015 Londonderry, NH — 6,683 730 — 6,683 730 7,413 (967 ) 2013 Longmont, CO — 9,647 1,529 581 10,228 1,529 11,757 (1,243 ) 2014 Loudon, TN — 3,751 170 — 3,751 170 3,921 (348 ) 2015 Louisville, KY — 3,875 386 520 4,395 386 4,781 (982 ) 2011 Louisville, KY — 6,182 616 632 6,814 616 7,430 (1,512 ) 2011 Macedonia, OH — 8,195 1,690 44 8,239 1,690 9,929 (813 ) 2015 Machesney Park, IL — 3,742 300 — 3,742 300 4,042 (426 ) 2015 Madison, WI — 6,365 609 — 6,365 609 6,974 (21 ) 2017 Madison, WI — 4,518 444 — 4,518 444 4,962 (14 ) 2017 Madison, TN — 5,758 1,655 1,786 7,544 1,655 9,199 (1,319 ) 2010 Malden, MA — 2,817 366 — 2,817 366 3,183 (764 ) 2007 Malden, MA — 3,961 507 — 3,961 507 4,468 (1,073 ) 2007 Maple Grove, MN — 6,634 969 — 6,634 969 7,603 (161 ) 2017 Marion, IA — 2,257 691 49 2,306 691 2,997 (428 ) 2013 Marion, IN (2,803 ) 2,934 243 718 3,652 243 3,895 (521 ) 2012 Marshall, MI — 1,051 199 — 1,051 199 1,250 (207 ) 2013 Mascot, TN — 3,228 284 — 3,228 284 3,512 (373 ) 2016 Mascot, TN — 3,452 385 65 3,517 385 3,902 (664 ) 2013 Salem, OH — 7,674 858 252 7,926 858 8,784 (1,986 ) 2006 Mason, OH — 4,731 673 — 4,731 673 5,404 (680 ) 2014 Mayville, WI — 4,118 547 330 4,448 547 4,995 (1,275 ) 2007 Mebane, NC — 4,570 481 457 5,027 481 5,508 (750 ) 2012 Mebane, NC — 4,148 443 — 4,148 443 4,591 (675 ) 2012 Mebane, NC — 4,999 358 9 5,008 358 5,366 (717 ) 2013 Mechanicsburg, PA — 5,143 1,482 770 5,913 1,482 7,395 (933 ) 2014 Mechanicsburg, PA — 7,144 1,800 — 7,144 1,800 8,944 (935 ) 2014 New Kingston, PA — 8,687 2,041 — 8,687 2,041 10,728 (1,121 ) 2014 Mechanicsburg, PA — 8,008 1,452 — 8,008 1,452 9,460 (1,027 ) 2014 Milford, CT — 10,040 1,264 300 10,340 1,264 11,604 (378 ) 2017 Montgomery, AL — 7,523 418 1,329 8,852 418 9,270 (326 ) 2016 Montgomery, IL — 12,485 2,190 1,934 14,419 2,190 16,609 (2,047 ) 2012 Mooresville, NC — 18,010 4,195 — 18,010 4,195 22,205 (196 ) 2017 Mooresville, NC — 7,411 701 216 7,627 701 8,328 (1,541 ) 2011 Mountain Home, NC — 2,472 523 — 2,472 523 2,995 (325 ) 2014 Murfreesboro, TN — 2,863 722 9 2,872 722 3,594 (487 ) 2014 Nashua, NH — 8,682 1,431 — 8,682 1,431 10,113 (1,266 ) 2014 Nashville, TN — 3,601 547 — 3,601 547 4,148 (503 ) 2013 Newark, DE — 1,478 197 392 1,870 197 2,067 (539 ) 2007 Newark, DE — 1,891 232 205 2,096 232 2,328 (671 ) 2007 New Berlin, WI — 6,500 1,068 141 6,641 1,068 7,709 (1,093 ) 2013 New Castle, DE — 17,767 2,616 — 17,767 2,616 20,383 (1,151 ) 2016 New Hope, MN — 1,970 1,919 — 1,970 1,919 3,889 (448 ) 2013 Lopatcong, NJ — 9,822 1,554 1,599 11,421 1,554 12,975 (736 ) 2010 Newton, NC — 7,568 732 1,283 8,851 732 9,583 (718 ) 2010 North Haven, CT — 39,911 4,086 1,387 41,298 4,086 45,384 (4,893 ) 2015 North Jackson, OH — 4,427 1,528 — 4,427 1,528 5,955 (617 ) 2013 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2017 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 North Jackson, OH — 7,681 486 — 7,681 486 8,167 (835 ) 2011 Norcorss, GA — 2,586 1,589 — 2,586 1,589 4,175 (331 ) 2016 Norton, MA — 6,740 2,839 — 6,740 2,839 9,579 (1,412 ) 2011 Novi, MI (2,693 ) 3,879 252 13 3,892 252 4,144 (761 ) 2012 Novi, MI — 6,035 626 — 6,035 626 6,661 (516 ) 2015 Oakwood Village, OH — 3,091 343 — 3,091 343 3,434 (399 ) 2015 Ocala, FL — 13,296 731 952 14,248 731 14,979 (1,810 ) 2013 O'Fallon, MO — 3,632 1,233 — 3,632 1,233 4,865 (69 ) 2017 O'Fallon, MO — 2,676 1,242 266 2,942 1,242 4,184 (587 ) 2010 O'Hara, PA (15,443 ) 18,875 1,435 7,468 26,343 1,435 27,778 (3,936 ) 2012 Oklahoma City, OK — 2,211 746 5 2,216 746 2,962 (159 ) 2016 Oklahoma City, OK — 9,199 1,614 1,373 10,572 1,614 12,186 (827 ) 2015 Olathe, KS — 20,763 2,431 156 20,919 2,431 23,350 (987 ) 2016 Orlando, FL — 4,839 1,339 — 4,839 1,339 6,178 (768 ) 2013 Orlando, FL — 1,996 721 — 1,996 721 2,717 (356 ) 2012 Pedricktown, NJ — 10,696 2,414 — 10,696 2,414 13,110 (263 ) 2017 Pensacola, FL — 2,989 145 343 3,332 145 3,477 (1,293 ) 2007 Phenix City, AL (1,539 ) 1,493 276 252 1,745 276 2,021 (306 ) 2012 Phoenix, AZ — 5,770 1,653 — 5,770 1,653 7,423 (554 ) 2015 Piedmont, SC — 4,152 231 86 4,238 231 4,469 (372 ) 2015 Piedmont, SC — 2,127 158 — 2,127 158 2,285 (196 ) 2015 Piedmont, SC — 2,302 204 — 2,302 204 2,506 (333 ) 2015 Pineville, NC — 1,380 392 — 1,380 392 1,772 (277 ) 2012 Pittston, PA — 19,959 677 — 19,959 677 20,636 (283 ) 2017 Plymouth, MI — 4,670 365 — 4,670 365 5,035 (533 ) 2015 Pocatello, ID — 3,472 399 363 3,835 399 4,234 (1,147 ) 2007 Portage, IN — 5,416 — — 5,416 — 5,416 (758 ) 2012 Portland, TN — 8,353 1,662 66 8,419 1,662 10,081 (1,678 ) 2012 Portland, ME — 3,727 891 10 3,737 891 4,628 (611 ) 2012 Rapid City, SD — 10,662 2,071 1,020 11,682 2,071 13,753 (3,858 ) 2007 Reading, PA — 5,401 1,708 67 5,468 1,708 7,176 (442 ) 2016 Muhlenberg TWP, PA — 13,866 843 232 14,098 843 14,941 (2,181 ) 2012 Redford, MI — 6,114 728 368 6,482 728 7,210 (359 ) 2017 Reno, NV — 3,461 1,372 — 3,461 1,372 4,833 (511 ) 2014 Rock Hill, SC (3,906 ) 6,297 1,411 351 6,648 1,411 8,059 (456 ) 2016 Rock Hill, SC — 4,512 1,095 — 4,512 1,095 5,607 (151 ) 2017 Rockwall, TX — 16,066 2,683 — 16,066 2,683 18,749 (363 ) 2017 Rogers, MN — 11,787 1,671 238 12,025 1,671 13,696 (3,198 ) 2011 Rogers, AR — 8,280 1,072 287 8,567 1,072 9,639 (1,665 ) 2011 Romulus, MI — 15,043 1,080 — 15,043 1,080 16,123 (372 ) 2017 Rural Hall, NC — 5,664 439 366 6,030 439 6,469 (1,250 ) 2008 Salem, OR — 3,150 599 640 3,790 599 4,389 (716 ) 2010 Salem, OR — 1,452 266 433 1,885 266 2,151 (404 ) 2010 Salisbury, NC — 5,284 1,535 28 5,312 1,535 6,847 (288 ) 2017 San Antonio, TX — 10,395 1,568 35 10,430 1,568 11,998 (428 ) 2016 Sauk Village, IL — 5,405 877 105 5,510 877 6,387 (787 ) 2013 Savage, MN — 3,996 3,194 546 4,542 3,194 7,736 (943 ) 2014 Savannah, GA — 13,219 439 — 13,219 439 13,658 (1,626 ) 2014 San Diego, CA — 15,016 2,290 22 15,038 2,290 17,328 (389 ) 2017 South Easton, MA — 5,880 403 — 5,880 403 6,283 (17 ) 2017 Sergeant Bluff, IA — 6,188 247 450 6,638 247 6,885 (3,800 ) 2007 Seville, OH — 4,536 766 171 4,707 766 5,473 (1,074 ) 2007 Shannon, GA — 12,969 393 — 12,969 393 13,362 (1,513 ) 2013 South Holland, IL — 3,900 714 — 3,900 714 4,614 (765 ) 2013 Shreveport, LA — 6,265 1,804 145 6,410 1,804 8,214 (834 ) 2015 Simpsonville, SC — 2,960 957 848 3,808 957 4,765 (549 ) 2012 Simpsonville, SC — 3,418 470 938 4,356 470 4,826 (576 ) 2012 Smithfield, NC — 10,657 613 12 10,669 613 11,282 (857 ) 2011 Smyrna, GA — 3,286 264 — 3,286 264 3,550 (603 ) 2012 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2017 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 South Bend, IN — 4,834 411 — 4,834 411 5,245 (804 ) 2012 Franklin Township, NJ — 8,322 2,272 — 8,322 2,272 10,594 (446 ) 2017 Sparks, NV — 6,328 938 934 7,262 938 8,200 (327 ) 2017 Spartanburg, SC — 15,100 1,867 166 15,266 1,867 17,133 (862 ) 2016 Spartanburg, SC — 3,694 342 — 3,694 342 4,036 (547 ) 2014 Spartanburg, SC — 5,797 493 432 6,229 493 6,722 (963 ) 2012 Stafford, TX — 6,570 339 — 6,570 339 6,909 (19 ) 2017 Statham, GA — 6,130 588 1,151 7,281 588 7,869 (965 ) 2012 Sterling Heights, MI (1,484 ) 4,191 513 415 4,606 513 5,119 (683 ) 2012 Stone Mountain, GA — 2,738 612 645 3,383 612 3,995 (63 ) 2017 Stoughton, MA — 2,613 2,256 824 3,437 2,256 5,693 (904 ) 2015 Stoughton, MA — 1,216 538 — 1,216 538 1,754 (268 ) 2015 Streetsboro, OH — 5,481 2,161 214 5,695 2,161 7,856 (1,473 ) 2010 Strongsville, OH — 5,853 491 94 5,947 491 6,438 (761 ) 2014 Sun Prairie, WI — 5,809 2,360 2,377 8,186 2,360 10,546 (1,454 ) 2008 Swedesboro, NJ — 5,129 1,212 — 5,129 1,212 6,341 (74 ) 2017 Toledo, OH — 6,831 213 — 6,831 213 7,044 (1,215 ) 2012 Burlington, NJ — — 3,267 248 248 3,267 3,515 — 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 (691 ) 2015 Twinsburg, OH — 8,027 590 — 8,027 590 8,617 (1,793 ) 2007 Visalia, CA — 21,839 4,346 — 21,839 4,346 26,185 (1,616 ) 2016 Vonore, TN — 8,243 2,355 85 8,328 2,355 10,683 (1,771 ) 2011 Waco, TX — 1,394 — 619 2,013 — 2,013 (299 ) 2008 West Allis, WI — 1,905 462 371 2,276 462 2,738 (191 ) 2015 West Allis, WI — 1,860 444 24 1,884 444 2,328 (170 ) 2015 West Allis, WI — 929 252 176 1,105 252 1,357 (97 ) 2015 West Allis, WI — 1,039 251 — 1,039 251 1,290 (97 ) 2015 Walker, MI — 4,872 855 136 5,008 855 5,863 (1,097 ) 2010 Wallingford, CT — 6,111 585 — 6,111 585 6,696 (149 ) 2017 Walton, KY — 6,244 2,105 — 6,244 2,105 8,349 (191 ) 2017 Ware Shoals, SC (244 ) 197 133 — 197 133 330 (35 ) 2012 Warren, MI — 6,111 502 10 6,121 502 6,623 (247 ) 2017 Warren, MI — 16,035 1,290 — 16,035 1,290 17,325 (813 ) 2016 Waukegan, IL — 5,140 1,004 — 5,140 1,004 6,144 (166 ) 2017 Waukegan, IL — 5,547 914 — 5,547 914 6,461 (80 ) 2017 West Chester, OH — 8,868 936 — 8,868 936 9,804 (356 ) 2016 West Chicago, IL — 2,036 768 772 2,808 768 3,576 (119 ) 2016 West Chicago, IL — 674 382 286 960 382 1,342 (71 ) 2016 West Chicago, IL — 768 450 272 1,040 450 1,490 (71 ) 2016 West Chicago, IL — 895 369 269 1,164 369 1,533 (84 ) 2016 West Chicago, IL — 904 216 276 1,180 216 1,396 (57 ) 2016 West Chicago, IL — 6,247 915 969 7,216 915 8,131 (546 ) 2016 West Columbia, SC — 9,570 488 — 9,570 488 10,058 (380 ) 2016 West Columbia, SC — 9,151 240 7 9,158 240 9,398 (47 ) 2017 West Columbia, SC — 4,646 551 2,301 6,947 551 7,498 (286 ) 2016 Westborough, MA — 5,808 661 — 5,808 661 6,469 (271 ) 2016 Hamilton, OH — 8,585 1,046 598 9,183 1,046 10,229 (1,661 ) 2014 Wichita, KS (1,484 ) 1,815 88 11 1,826 88 1,914 (263 ) 2012 Wichita, KS (1,621 ) 1,839 107 131 1,970 107 2,077 (323 ) 2012 Wichita, KS (742 ) 833 76 181 1,014 76 1,090 (168 ) 2012 Williamsport, PA — 9,059 688 — 9,059 688 9,747 (1,404 ) 2013 Winston-Salem, NC — 11,054 610 16 11,070 610 11,680 (1,387 ) 2014 Wood Dale, IL — 5,042 1,226 — 5,042 1,226 6,268 (205 ) 2016 Woodstock, IL — 3,796 496 — 3,796 496 4,292 (645 ) 2012 York, PA — 14,538 2,152 96 14,634 2,152 16,786 (195 ) 2017 Yorkville, WI — 4,893 416 — 4,893 416 5,309 (454 ) 2014 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2017 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 Bardstown, KY — 2,398 379 — 2,398 379 2,777 (680 ) 2007 Total $ (58,855 ) $ 2,099,229 $ 325,773 $ 99,110 $ 2,198,339 $ 325,773 $ 2,524,112 $ (251,943 ) (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 0.6 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, 2017 , the aggregate cost for federal income tax purposes of investments in real estate was approximately $3.2 billion . Year ended December 31, 2017 2016 2015 Real Estate: Balance at beginning of period $ 2,009,716 $ 1,711,612 $ 1,415,965 Additions during period Other acquisitions 514,725 381,131 330,504 Improvements, etc. 53,099 33,133 16,851 Other additions — — — Deductions during period Cost of real estate sold (48,674 ) (97,342 ) (21,443 ) Write-off of tenant improvements (2,166 ) (2,585 ) (1,205 ) Asset impairments and involuntary conversion (2,588 ) (16,233 ) (29,060 ) Balance at the end of the period including assets held for sale $ 2,524,112 $ 2,009,716 $ 1,711,612 Assets held for sale (20,731 ) — — Balance at the end of the period excluding assets held for sale 2,503,381 2,009,716 1,711,612 Accumulated Depreciation: Balance at beginning of period $ 187,413 $ 147,917 $ 105,435 Additions during period Depreciation and amortization expense 75,314 57,391 48,186 Other additions — — — Deductions during period Disposals (10,784 ) (17,895 ) (5,704 ) Balance at the end of the period including assets held for sale $ 251,943 $ 187,413 $ 147,917 Assets held for sale (2,886 ) — — Balance at the end of the period excluding assets held for sale $ 249,057 $ 187,413 $ 147,917

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
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.
Reclassification	Certain prior year amounts have been reclassified to conform to the current year presentation.
Adoption of New Accounting Pronouncements	In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. This standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those years, with early adoption permitted, and should be applied using a modified retrospective transition method to each period presented. This adoption method will require the Company to recognize the cumulative effect of initially applying the ASU as an adjustment to accumulated other comprehensive income (loss) with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year that an entity adopts the update. The adoption of ASU 2017-12 is not expected to materially impact the Company’s consolidated financial statements. The Company plans to adopt this standard effective January 1, 2018. In May 2017, the FASB issued ASU 2017-09, Stock Compensation (Topic 718): Scope of Modification Accounting , which provides updated guidance about which changes to the terms or conditions of a share-based payment award would require an entity to apply modification accounting under the topic. 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 prospectively to an award modified on or after the adoption date. The adoption of ASU 2017-09 is not expected to materially impact the Company’s consolidated financial statements. The Company plans to adopt this standard effective January 1, 2018. In February 2017, the FASB issued ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets , which provides guidance for recognizing gains and losses from the transfer of nonfinancial assets in contracts with non-customers. The new standard was issued as part of the new revenue standard (ASU 2014-09, as discussed below), and defines “in substance nonfinancial asset,” unifies guidance related to partial sales of nonfinancial assets, eliminates rules specifically addressing sales of real estate, removes exceptions to the financial asset derecognition model, and clarifies the accounting for contributions of nonfinancial assets to joint ventures. As a result of the new guidance, the guidance specific to real estate sales in Subtopic 360-20 will be eliminated, and sales and partial sales of real estate assets will now be subject to the same derecognition model as all other nonfinancial assets. This standard is effective at the same time an entity adopts ASU 2014-09, and either the full retrospective approach or the modified retrospective approach may be used. The adoption of ASU 2017-05 is not expected to materially impact the Company’s consolidated financial statements. The Company plans to adopt this standard effective January 1, 2018 using the modified retrospective approach. In January 2017, the FASB issued 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. The Company elected to early adopt this standard effective January 1, 2017. The adoption of this standard did not have a material effect on the Company's consolidated financial statements. In January 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 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. The Company plans to adopt this standard effective January 1, 2018. In February 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 plans to adopt this standard effective January 1, 2019. In January 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. The Company plans to adopt this standard effective January 1, 2018. In May 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 specifically excluded from the model's scope, 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 upon the adoption of ASU 2016-02 on January 1, 2019. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. 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 adoption of ASU 2014-09 is not expected to materially impact the Company’s consolidated financial statements. The Company plans to adopt this standard effective January 1, 2018 using the modified retrospective approach.
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 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 above and below market lease values are amortized into rental income over the remaining lease term. The value of in-place lease intangibles and tenant relationships are amortized over the remaining lease term (and expected renewal period of the respective lease for tenant relationships) as increases to depreciation and amortization expense. The remaining lease terms are adjusted for bargain renewal options or assumed exercises of early termination options, as applicable. If a tenant subsequently terminates its lease, any 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 and amortization expense over the shortened lease term. The purchase price allocated to deferred leasing intangible assets are included in rental property, net on the accompanying Consolidated Balance Sheets and the purchase price allocated to deferred leasing intangible liabilities are included in deferred leasing intangibles, net 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 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 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.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents	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.
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 approximately $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, 2017 .
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 its derivative financial instruments 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, and 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. Rental income recognition commences when the tenant takes possession of or controls the physical use of the leased space and the leased space is substantially complete and ready for its intended use. In order to determine whether the leased space is substantially complete and ready for its intended use, the Company determines whether the Company or the tenant own the tenant improvements. When it is determined that the Company is the owner of the tenant improvements, rental income recognition begins when the tenant takes possession of or controls the physical use of the finished space, which is generally when the Company owned tenant improvements are completed. In instances when it is determined that the tenant is the owner of tenant improvements, rental income recognition begins when the tenant takes possession of or controls the physical use of the leased space. When the Company is the owner of tenant improvements or other capital items, the cost to construct the tenant improvements or other capital items, including costs paid for or reimbursed by the tenants, is recorded as capital assets. For these tenant improvements or other capital items, the amount funded by or reimbursed by the tenants are recorded as deferred revenue, which is amortized on a straight-line basis as rental income over the shorter of the useful life of the capital asset or the term of the related lease. The Company earned revenue from asset management fees, which are included on the accompanying Consolidated Statements of Operations in other income. The Company recognized revenue from asset management fees when the related fees were earned and were realized or realizable. As of December 31, 2017, the Company no longer earned revenue from asset management fees. 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 $12.4 million , $10.9 million and $10.2 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. 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, and outperformance programs and performance units ( outperformance programs and performance units are collectively, "Performance-based Compensation Plans") . See Notes 6, 7 and 8 for further discussion of restricted shares of common stock, LTIP units, and Performance-based Compensation Plans , 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. The Company's TRS recognized a net loss of approximately $0.4 million , $0.1 million and $25,000 , for the years ended December 31, 2017 , 2016 and 2015 , respectively, which has been included on the accompanying Consolidated Statements of Operations. The following table reconciles net income (loss) to taxable income for the years ended December 31, 2017 , 2016 and 2015 . Year ended December 31, Reconciliation of Net Income (Loss) to Taxable Income (in thousands) 2017 2016 2015 Net income (loss) $ 32,200 $ 35,588 $ (29,345 ) Book/tax differences from depreciation and amortization 80,416 66,763 60,959 Above/below market lease amortization 4,583 6,213 8,526 Loss on impairments 1,879 16,845 29,272 Book/tax difference on termination income (786 ) 678 (1,815 ) Book/tax difference on property acquisition costs 5,262 4,498 4,400 Book/tax difference on extinguishment of debt 15 (17 ) — Book/tax difference on accrued bonus payment 745 1,170 (337 ) Book/tax difference on bad debt expense (91 ) 83 2 Book/tax difference on non-cash compensation 6,270 7,188 4,662 Book/tax difference on gain on the sales of rental property, net (26,134 ) (53,580 ) (10,653 ) Straight-line rent adjustments, net (6,689 ) (2,495 ) (3,405 ) Book/tax difference on non-cash portion of interest expense 1,897 1,631 1,266 Book/tax difference on prepaid rent of Sec. 467 leases (122 ) (274 ) 1,887 Book/tax difference on gain on involuntary conversion (325 ) — — Other book/tax differences, net 465 284 180 Loss attributable to noncontrolling interest (4,572 ) (4,069 ) (3,011 ) Taxable income subject to distribution requirement (1) $ 95,013 $ 80,506 $ 62,588 (1) The Company distributed in excess of 100% of its taxable income to its stockholders during the years ended December 31, 2017 , 2016 and 2015 , 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 approximately $1.0 million , $1.0 million and $0.9 million have been recorded in other expenses on the accompanying Consolidated Statements of Operations for the years ended December 31, 2017 , 2016 and 2015 , 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, 2017 , 2016 and 2015 , 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.
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, 2017
Accounting Policies [Abstract]
Schedule of estimated useful lives of PP&E	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
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, 2017 2016 2015 Per Share % Per Share % Per Share % Ordinary income $ 0.965483 68.8 % $ 0.944038 68.0 % $ 0.777244 57.2 % Return of capital 0.437852 31.2 % 0.445125 32.0 % 0.582756 42.8 % Total (1) $ 1.403335 100.0 % $ 1.389163 100.0 % $ 1.360000 100.0 % (1) 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 was included in the stockholder’s 2017 tax year. The December 2017 monthly common stock dividend of $0.1175 per share will be included in the stockholder’s 2018 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, 2017 and 2016 . The Company's board of directors may alter the amounts of dividends paid or suspend dividend payments at any time and therefore dividend payments are not assured. Month Ended 2017 Declaration Date Record Date Per Share Payment Date December 31 July 31, 2017 December 29, 2017 $ 0.117500 January 16, 2018 November 30 July 31, 2017 November 30, 2017 0.117500 December 15, 2017 October 31 July 31, 2017 October 31, 2017 0.117500 November 15, 2017 September 30 May 1, 2017 September 29, 2017 0.117500 October 16, 2017 August 31 May 1, 2017 August 31, 2017 0.117500 September 15, 2017 July 31 May 1, 2017 July 31, 2017 0.117500 August 15, 2017 June 30 February 15, 2017 June 30, 2017 0.116667 July 17, 2017 May 31 February 15, 2017 May 31, 2017 0.116667 June 15, 2017 April 30 February 15, 2017 April 28, 2017 0.116667 May 15, 2017 March 31 November 2, 2016 March 31, 2017 0.116667 April 17, 2017 February 28 November 2, 2016 February 28, 2017 0.116667 March 15, 2017 January 31 November 2, 2016 January 31, 2017 0.116667 February 15, 2017 Total $ 1.405002 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 On November 2, 2017 , the Company’s board of directors declared the common stock dividend for the months ending January 31, 2018 , February 28, 2018 and March 31, 2018 at a monthly rate of $0.118333 per share of common stock. The tables below set forth the dividends attributable to the Company's outstanding preferred stock issuances during the years ended December 31, 2017 and 2016 . Quarter Ended 2017 Declaration Date Series B Series C Payment Date December 31 November 2, 2017 $ 0.4140625 $ 0.4296875 December 29, 2017 September 30 July 31, 2017 0.4140625 0.4296875 September 29, 2017 June 30 May 1, 2017 0.4140625 0.4296875 June 30, 2017 March 31 February 15, 2017 0.4140625 0.4296875 March 31, 2017 Total $ 1.6562500 $ 1.7187500 Quarter Ended 2016 Declaration Date Series A Preferred Stock Per Share Series B Preferred Stock Per Share Series C Preferred Stock Per Share 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 November 2, 2016, the Company redeemed all of the outstanding shares 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.
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, 2017 , 2016 and 2015 . Year ended December 31, Reconciliation of Net Income (Loss) to Taxable Income (in thousands) 2017 2016 2015 Net income (loss) $ 32,200 $ 35,588 $ (29,345 ) Book/tax differences from depreciation and amortization 80,416 66,763 60,959 Above/below market lease amortization 4,583 6,213 8,526 Loss on impairments 1,879 16,845 29,272 Book/tax difference on termination income (786 ) 678 (1,815 ) Book/tax difference on property acquisition costs 5,262 4,498 4,400 Book/tax difference on extinguishment of debt 15 (17 ) — Book/tax difference on accrued bonus payment 745 1,170 (337 ) Book/tax difference on bad debt expense (91 ) 83 2 Book/tax difference on non-cash compensation 6,270 7,188 4,662 Book/tax difference on gain on the sales of rental property, net (26,134 ) (53,580 ) (10,653 ) Straight-line rent adjustments, net (6,689 ) (2,495 ) (3,405 ) Book/tax difference on non-cash portion of interest expense 1,897 1,631 1,266 Book/tax difference on prepaid rent of Sec. 467 leases (122 ) (274 ) 1,887 Book/tax difference on gain on involuntary conversion (325 ) — — Other book/tax differences, net 465 284 180 Loss attributable to noncontrolling interest (4,572 ) (4,069 ) (3,011 ) Taxable income subject to distribution requirement (1) $ 95,013 $ 80,506 $ 62,588 (1) The Company distributed in excess of 100% of its taxable income to its stockholders during the years ended December 31, 2017 , 2016 and 2015 , respectively.

Rental Property (Tables)

Rental Property (Tables)	12 Months Ended
	Dec. 31, 2017
Real Estate [Abstract]
Schedule of components of rental property	The following table summarizes the components of rental property, net as of December 31, 2017 and 2016 . Rental Property, net (in thousands) December 31, 2017 December 31, 2016 Land $ 321,560 $ 272,162 Buildings, net of accumulated depreciation of $160,281 and $125,971, respectivel y 1,756,579 1,408,406 (1) Tenant improvements, net of accumulated depreciation of $32,714 and $28,388, respectively 30,138 24,974 Building and land improvements, net of accumulated depreciation of $56,062 and $33,054, respectivel y 143,170 107,463 Construction in progress 2,877 9,298 Deferred leasing intangibles, net of accumulated amortization of $280,642 and $237,456, respectively 313,253 294,533 Total rental property, net $ 2,567,577 $ 2,116,836 (1) Includes one building in redevelopment.
Schedule of real estate properties acquired	The following tables summarize the acquisitions of the Company during the years ended December 31, 2017 and 2016 . Year ended December 31, 2017 Location of Property Square Feet Buildings Purchase Price Jacksonville, FL 1,025,720 4 $ 34,264 Sparks, NV 174,763 1 8,380 Salisbury, NC 288,000 1 8,250 Franklin Township, NJ 183,000 1 12,800 Milford, CT 200,000 1 12,762 Bedford Heights, OH 173,034 1 7,622 Redford, MI 135,728 1 7,769 Warren, MI 154,377 1 7,940 Three months ended March 31, 2017 2,334,622 11 99,787 Waukegan, IL 261,075 2 13,850 Gaffney, SC 226,968 1 7,200 Dayton, OH 569,966 1 29,750 Belvidere, IL 336,204 1 22,867 San Diego, CA 205,440 1 19,362 Edwardsville, KS 270,869 1 16,270 Pedricktown, NJ 245,749 1 16,000 Walton, KY 224,921 1 11,450 Rock Hill, SC 275,000 1 6,675 Laredo, TX 206,810 1 13,500 Clinton, PA 297,200 1 23,650 Batavia, IL 102,500 1 5,900 Wallingford, CT 105,000 1 8,200 Rockwall, TX 389,546 1 28,600 Houston, TX 232,800 3 25,000 Lebanon, PA 211,358 1 7,950 Maple Grove, MN 108,628 1 10,031 Romulus, MI 303,760 1 19,351 Three months ended June 30, 2017 4,573,794 21 285,606 Stone Mountain, GA 78,000 1 4,175 York, PA 382,886 1 18,981 Pittston, PA 437,446 1 23,950 O'Fallon, MO 109,854 1 5,740 Belleville, MI 160,464 1 8,641 Columbus, OH 147,645 1 6,954 Groveport, OH 320,657 1 13,643 Las Vegas, NV 34,916 1 4,642 Mooresville, NC 499,200 1 25,750 Swedesboro, NJ 123,962 1 7,250 Three months ended September 30, 2017 2,295,030 10 119,726 Council Bluffs, IA 90,000 1 6,600 Hilliard, OH 237,500 1 8,717 Fountain Inn, SC 264,385 1 18,200 West Columbia, SC 200,000 1 10,000 Avondale, AZ 186,643 1 16,500 El Paso, TX 498,382 2 16,850 Stafford, TX 68,300 1 8,100 South Easton, MA 86,000 1 8,125 Madison, WI 283,000 2 14,300 Three months ended December 31, 2017 1,914,210 11 107,392 Year ended December 31, 2017 11,117,656 53 $ 612,511 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
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, 2017 and 2016 , respectively, for the acquired assets and liabilities in connection with the acquisitions identified in the tables above. Year ended December 31, 2017 Year ended December 31, 2016 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 $ 59,004 N/A $ 59,630 N/A Buildings 413,829 N/A 283,758 N/A Tenant improvements 10,044 N/A 8,670 N/A Building and land improvements 31,848 N/A 29,073 N/A Deferred leasing intangibles - In-place leases 62,493 8.3 62,533 8.2 Deferred leasing intangibles - Tenant relationships 27,056 10.8 30,446 10.4 Deferred leasing intangibles - Above market leases 14,375 10.6 10,576 9.2 Deferred leasing intangibles - Below market leases (5,222 ) 8.5 (12,971 ) 8.5 Deferred leasing intangibles - Above market ground leases (916 ) 49.0 — N/A Above market assumed debt adjustment — N/A (75 ) 7.2 Other assets — N/A 158 N/A Total purchase price 612,511 471,798 Less: Mortgage note assumed — (4,037 ) Net assets acquired $ 612,511 $ 467,761
Schedule of pro forma information for acquired properties	The table below sets forth the results of operations for the years ended December 31, 2017 and 2016 for the properties acquired during the years ended December 31, 2017 and 2016 , respectively, included in the Company’s Consolidated Statements of Operations from the date of acquisition. Results of Operations (in thousands) Year ended December 31, 2017 Year ended December 31, 2016 Total revenue $ 27,918 $ 13,105 Property acquisition costs $ 5,181 $ 4,386 Net loss $ 1,473 $ 3,560 The following table sets forth pro forma information for the years ended December 31, 2017 and 2016 . 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, 2017 Year ended December 31, 2016 Total revenue $ 326,994 $ 321,512 Net income (2) $ 40,519 $ 24,520 Net income attributable to common stockholders $ 29,101 $ 9,715
Schedule of Finite-Lived Intangible Assets and Below Market Leases	December 31, 2017 December 31, 2016 Deferred Leasing Intangibles (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Above market leases $ 78,558 $ (36,810 ) $ 41,748 $ 70,668 $ (32,868 ) $ 37,800 Other intangible lease assets 515,337 (243,832 ) 271,505 461,321 (204,588 ) 256,733 Total deferred leasing intangible assets $ 593,895 $ (280,642 ) $ 313,253 $ 531,989 $ (237,456 ) $ 294,533 Below market leases $ 34,776 $ (13,555 ) $ 21,221 $ 30,791 $ (10,450 ) $ 20,341 Total deferred leasing intangible liabilities $ 34,776 $ (13,555 ) $ 21,221 $ 30,791 $ (10,450 ) $ 20,341 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, 2017 , 2016 and 2015 . Year ended December 31, Deferred Leasing Intangibles Amortization (in thousands) 2017 2016 2015 Net decrease to rental income related to above and below market lease amortization $ 4,583 $ 6,213 $ 8,526 Amortization expense related to other intangible lease assets $ 72,936 $ 66,291 $ 60,834
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	December 31, 2017 . 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) 2018 $ 63,957 $ 4,475 2019 $ 49,758 $ 3,881 2020 $ 39,765 $ 3,466 2021 $ 29,093 $ 2,140 2022 $ 22,037 $ 1,172
Below Market Lease, Future Amortization Income	December 31, 2017 . 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) 2018 $ 63,957 $ 4,475 2019 $ 49,758 $ 3,881 2020 $ 39,765 $ 3,466 2021 $ 29,093 $ 2,140 2022 $ 22,037 $ 1,172

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
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, 2017 and 2016 . Loan Principal Outstanding as of December 31, 2017 (in thousands) Principal Outstanding as of December 31, 2016 Interest (1) Maturity Date Prepayment Terms (2) Unsecured credit facility: Unsecured Credit Facility (3) $ 271,000 $ 28,000 L + 1.15% Dec-18-2019 i Total unsecured credit facility 271,000 28,000 Unsecured term loans: Unsecured Term Loan C 150,000 150,000 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 Unsecured Term Loan D (4) — — L + 1.30% Jan-04-2023 i Total unsecured term loans 450,000 450,000 Less: Total unamortized deferred financing fees and debt issuance costs (3,735 ) (3,392 ) Total carrying value unsecured term loans, net 446,265 446,608 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 (1,766 ) (2,034 ) Total carrying value unsecured notes, net 398,234 397,966 Mortgage notes (secured debt): Union Fidelity Life Insurance Company — 5,384 5.81 % Apr-30-2017 iii Webster Bank, National Association — 2,853 3.66 % May-29-2017 iv Webster Bank, National Association — 3,073 3.64 % May-31-2017 iv Wells Fargo, National Association — 4,043 5.90 % Aug-1-2017 v Connecticut General Life Insurance Company -1 Facility — 35,320 6.50 % Feb-1-2018 vi Connecticut General Life Insurance Company -2 Facility — 36,892 5.75 % Feb-1-2018 vi Connecticut General Life Insurance Company -3 Facility — 16,141 5.88 % Feb-1-2018 vi Wells Fargo Bank, National Association CMBS Loan 54,949 56,608 4.31 % Dec-1-2022 vii Thrivent Financial for Lutherans 3,906 4,012 4.78 % Dec-15-2023 iv Total mortgage notes 58,855 164,326 Total unamortized fair market value premiums 61 112 Less: Total unamortized deferred financing fees and debt issuance costs (634 ) (873 ) Total carrying value mortgage notes, net 58,282 163,565 Total / weighted average interest rate (5) $ 1,173,781 $ 1,036,139 3.53 % (1) Current interest rate as of December 31, 2017 . At December 31, 2017 and 2016 , the one-month LIBOR (“L”) was 1.56425% and 0.77167% , 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 two months prior to the maturity date; (iv) pre-payable without penalty three 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 $450.0 million . Deferred financing fees and debt issuance costs, net of accumulated amortization related to the unsecured credit facility of approximately $1.5 million and $2.3 million are included in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets as of December 31, 2017 and 2016 , respectively. (4) Capacity of $150.0 million , which the Company has until July 27, 2018 to draw. (5) The weighted average interest rate was calculated using the fixed interest rate swapped on the current notional amount of $600.0 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.
Interest Income and Interest Expense Disclosure [Table Text Block]	The table below sets forth the costs included in interest expense related to the Company's debt arrangements on the accompanying Consolidated Statement of Operations for the years ended December 31, 2017 , 2016 and 2015 . Year ended December 31, Costs Included in Interest Expense (in thousands) 2017 2016 2015 Amortization of deferred financing fees and debt issuance costs and fair market value premiums $ 2,087 $ 1,698 $ 1,262 Facility fees and unused fees 1,169 1,380 1,202
Schedule of aggregate carrying value of the debt and the corresponding estimate of fair value	December 31, 2017 and 2016 (in thousands). December 31, 2017 December 31, 2016 Principal Outstanding Fair Value Principal Outstanding Fair Value Unsecured credit facility $ 271,000 $ 271,528 $ 28,000 $ 28,000 Unsecured term loans 450,000 451,463 450,000 450,000 Unsecured notes 400,000 415,599 400,000 399,091 Mortgage notes 58,855 59,769 164,326 166,099 Total principal amount 1,179,855 $ 1,198,359 1,042,326 $ 1,043,190 Add: Total unamortized fair market value premiums 61 112 Less: Total unamortized deferred financing fees and debt issuance costs (6,135 ) (6,299 ) Total carrying value $ 1,173,781 $ 1,036,139
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, 2017 . Year Future Principal Payments of Debt (in thousands) 2018 $ 1,844 2019 272,926 2020 152,006 2021 152,103 2022 197,681 Thereafter 403,295 Total aggregate principal payments 1,179,855 Add: Total unamortized fair market value premiums 61 Less: Total unamortized deferred financing fees and debt issuance costs (6,135 ) Total carrying value $ 1,173,781

Use of Derivative Financial I28

Use of Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 . All of the Company's interest rate swaps are designated as qualifying cash flow hedges. Interest Rate Trade Date Effective Date Notional Amount Fair Value Pay Fixed Interest Rate Receive Variable Interest Rate Maturity Date Regions Bank Mar-01-2013 Mar-01-2013 $ 25,000 $ 331 1.3300 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Jul-01-2013 $ 50,000 $ 293 1.6810 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Aug-01-2013 $ 25,000 $ 135 1.7030 % One-month L Feb-14-2020 Regions Bank Sep-30-2013 Feb-03-2014 $ 25,000 $ (18 ) 1.9925 % One-month L Feb-14-2020 The Toronto-Dominion Bank Oct-14-2015 Sep-29-2016 $ 25,000 $ 427 1.3830 % One-month L Sep-29-2020 PNC Bank, N.A. Oct-14-2015 Sep-29-2016 $ 50,000 $ 845 1.3906 % One-month L Sep-29-2020 Regions Bank Oct-14-2015 Sep-29-2016 $ 35,000 $ 596 1.3858 % One-month L Sep-29-2020 U.S. Bank, N.A. Oct-14-2015 Sep-29-2016 $ 25,000 $ 421 1.3950 % One-month L Sep-29-2020 Capital One, N.A. Oct-14-2015 Sep-29-2016 $ 15,000 $ 252 1.3950 % One-month L Sep-29-2020 Royal Bank of Canada Jan-08-2015 Mar-20-2015 $ 25,000 $ 266 1.7090 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Mar-20-2015 $ 25,000 $ 263 1.7105 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Sep-10-2017 $ 100,000 $ (566 ) 2.2255 % One-month L Mar-21-2021 Wells Fargo, N.A. Jan-08-2015 Mar-20-2015 $ 25,000 $ 276 1.8280 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jan-08-2015 Feb-14-2020 $ 25,000 $ (107 ) 2.4535 % One-month L Mar-31-2022 Regions Bank Jan-08-2015 Feb-14-2020 $ 50,000 $ (236 ) 2.4750 % One-month L Mar-31-2022 Capital One, N.A. Jan-08-2015 Feb-14-2020 $ 50,000 $ (290 ) 2.5300 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jul-20-2017 Oct-30-2017 $ 25,000 $ 327 1.8485 % One-month L Jan-04-2023 Royal Bank of Canada Jul-20-2017 Oct-30-2017 $ 25,000 $ 329 1.8505 % One-month L Jan-04-2023 Wells Fargo, N.A. Jul-20-2017 Oct-30-2017 $ 25,000 $ 329 1.8505 % One-month L Jan-04-2023 PNC Bank, N.A. Jul-20-2017 Oct-30-2017 $ 25,000 $ 329 1.8485 % One-month L Jan-04-2023 PNC Bank, N.A. Jul-20-2017 Oct-30-2017 $ 50,000 $ 660 1.8475 % One-month L Jan-04-2023
Schedule of interest rate swaps	The fair value of the interest rate swaps outstanding as of December 31, 2017 and 2016 was as follows. Balance Sheet Line Item (in thousands) Notional Amount December 31, 2017 Fair Value December 31, 2017 Notional Amount December 31, 2016 Fair Value December 31, 2016 Interest rate swaps-Asset $ 475,000 $ 6,079 $ 300,000 $ 1,471 Interest rate swaps-Liability $ 250,000 $ (1,217 ) $ 375,000 $ (2,438 )
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, 2017 , 2016 and 2015 , (in thousands). Year ended December 31, 2017 2016 2015 Amount of gain (loss) recognized in accumulated other comprehensive income (loss) on interest rate swaps (effective portion) $ 3,597 $ (2,244 ) $ (5,387 ) Amount of loss reclassified from accumulated other comprehensive income (loss) into income (loss) as interest expense (effective portion) $ 2,073 $ 3,142 $ 3,431 Amount of gain recognized in interest expense (ineffective portion) $ 190 $ 66 $ —
Schedule of financial instruments accounted for at fair value on a recurring basis	The following tables set forth the Company’s financial instruments that are accounted for at fair value on a recurring basis as of December 31, 2017 and 2016 . Fair Value Measurements as of Balance Sheet Line Item (in thousands) Fair Value December 31, 2017 Level 1 Level 2 Level 3 Interest rate swaps-Asset $ 6,079 $ — $ 6,079 $ — Interest rate swaps-Liability $ (1,217 ) $ — $ (1,217 ) $ — 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 ) $ —

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class	Preferred Stock Issuances Issuance Date Number of Shares 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, 2017 2016 2015 Per Share % Per Share % Per Share % Ordinary income $ 0.965483 68.8 % $ 0.944038 68.0 % $ 0.777244 57.2 % Return of capital 0.437852 31.2 % 0.445125 32.0 % 0.582756 42.8 % Total (1) $ 1.403335 100.0 % $ 1.389163 100.0 % $ 1.360000 100.0 % (1) 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 was included in the stockholder’s 2017 tax year. The December 2017 monthly common stock dividend of $0.1175 per share will be included in the stockholder’s 2018 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, 2017 and 2016 . The Company's board of directors may alter the amounts of dividends paid or suspend dividend payments at any time and therefore dividend payments are not assured. Month Ended 2017 Declaration Date Record Date Per Share Payment Date December 31 July 31, 2017 December 29, 2017 $ 0.117500 January 16, 2018 November 30 July 31, 2017 November 30, 2017 0.117500 December 15, 2017 October 31 July 31, 2017 October 31, 2017 0.117500 November 15, 2017 September 30 May 1, 2017 September 29, 2017 0.117500 October 16, 2017 August 31 May 1, 2017 August 31, 2017 0.117500 September 15, 2017 July 31 May 1, 2017 July 31, 2017 0.117500 August 15, 2017 June 30 February 15, 2017 June 30, 2017 0.116667 July 17, 2017 May 31 February 15, 2017 May 31, 2017 0.116667 June 15, 2017 April 30 February 15, 2017 April 28, 2017 0.116667 May 15, 2017 March 31 November 2, 2016 March 31, 2017 0.116667 April 17, 2017 February 28 November 2, 2016 February 28, 2017 0.116667 March 15, 2017 January 31 November 2, 2016 January 31, 2017 0.116667 February 15, 2017 Total $ 1.405002 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 On November 2, 2017 , the Company’s board of directors declared the common stock dividend for the months ending January 31, 2018 , February 28, 2018 and March 31, 2018 at a monthly rate of $0.118333 per share of common stock. The tables below set forth the dividends attributable to the Company's outstanding preferred stock issuances during the years ended December 31, 2017 and 2016 . Quarter Ended 2017 Declaration Date Series B Series C Payment Date December 31 November 2, 2017 $ 0.4140625 $ 0.4296875 December 29, 2017 September 30 July 31, 2017 0.4140625 0.4296875 September 29, 2017 June 30 May 1, 2017 0.4140625 0.4296875 June 30, 2017 March 31 February 15, 2017 0.4140625 0.4296875 March 31, 2017 Total $ 1.6562500 $ 1.7187500 Quarter Ended 2016 Declaration Date Series A Preferred Stock Per Share Series B Preferred Stock Per Share Series C Preferred Stock Per Share 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 November 2, 2016, the Company redeemed all of the outstanding shares 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.
Schedule of stock sale activity	The following sets forth the Company’s at-the market ("ATM") common stock offering program as of December 31, 2017 . ATM Common Stock Offering Program Date Maximum Aggregate Offering Price (in thousands) Aggregate Common Stock Available as of 2017 $500 million ATM November 13, 2017 $ 500,000 $ 489,674 The table below sets forth the activity for the ATM common stock offering programs during the years ended December 31, 2017 and 2016 (in thousands, except share data). Year ended December 31, 2017 ATM Common Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2017 $500 million ATM 363,843 $ 28.38 $ 10,326 $ 129 $ 10,197 2017 $300 million ATM (1) 11,098,748 $ 27.03 $ 300,000 $ 3,637 $ 296,363 2016 $228 million ATM (1) 4,799,784 $ 24.42 $ 117,216 $ 1,604 $ 115,612 Total/weighted average 16,262,375 $ 26.29 $ 427,542 $ 5,370 $ 422,172 (1) This program ended before December 31, 2017 . Year ended December 31, 2016 ATM Common Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2016 $228 million ATM (1) 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) These programs ended before December 31, 2017 .
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, 2017 , 2016 and 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 Granted 75,001 (3) Vested (109,209 ) Forfeited (922 ) Balance at December 31, 2017 237,207 (1) The grant date fair value per share was $26.17 . (2) The grant date fair value per share was $17.98 . (3) The grant date fair value per share was $24.41 .
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, 2017 , 2016 and 2015 . Year ended December 31, 2017 2016 2015 Vested restricted shares of common stock 109,209 98,746 72,185 Fair value of vested restricted shares of common stock (in thousands) $ 2,591 $ 1,813 $ 1,751 The table below sets forth the assumptions used in valuing the performance units granted during the years ended December 31, 2017 and 2016 . Performance Units Assumptions Grant date January 6, 2017 March 8, 2016 Expected volatility 23.0 % 23.0 % Expected dividend yield 6.0 % 6.0 % Risk-free interest rate 1.61 % 1.08 % Fair value of performance units grant (in thousands) $ 2,882 $ 2,614

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	12 Months Ended
	Dec. 31, 2017
Noncontrolling Interest [Abstract]
Noncontrolling interest activity	The table below summarizes the activity for noncontrolling interest in the Company for the years ended December 31, 2017 , 2016 and 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 % Granted/Issued 126,239 687,827 814,066 N/A Forfeitures — — — N/A Conversions from LTIP units to Other Common Units (245,685 ) 245,685 — N/A Redemptions from Other Common Units to common stock — (351,260 ) (351,260 ) N/A Balance at December 31, 2017 1,457,070 2,639,617 4,096,687 4.1 %
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, 2017 , 2016 and 2015 . LTIP Units Assumptions Grant date January 6, 2017 February 22, 2016 January 8, 2016 January 6, 2016 May 4, 2015 January 12, 2015 Expected term (years) 10 10 10 10 10 10 Expected volatility 23.0 % 22.0 % 22.0 % 22.0 % 20.0 % 20.0 % Expected dividend yield 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Risk-free interest rate 1.61 % 1.01 % 1.28 % 1.36 % 0.66 % 0.62 % Fair value of LTIP units at issuance (in thousands) $ 2,924 $ 277 $ 2,254 $ 390 $ 2,038 $ 5,450 LTIP units at issuance 126,239 18,386 135,546 22,464 100,000 223,069 Fair value unit price per LTIP unit at issuance $ 23.16 $ 15.07 $ 16.63 $ 17.36 $ 20.38 $ 24.43
Schedule of activity related to share-based compensation	The following table summarizes the fair value at vesting date for the LTIP units vested during years ended December 31, 2017 , 2016 and 2015 . Year ended December 31, 2017 2016 2015 Vested LTIP units 229,355 307,883 237,046 Fair value of vested LTIP units (in thousands) $ 6,101 $ 6,393 $ 4,853 The following table summarizes activity related to the Company’s unvested LTIP units for the years ended December 31, 2017 , 2016 and 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 Granted 126,239 Vested (229,355 ) Forfeited — Balance at December 31, 2017 300,307

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
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, 2017 , 2016 and 2015 . Year ended December 31, 2017 2016 2015 Vested restricted shares of common stock 109,209 98,746 72,185 Fair value of vested restricted shares of common stock (in thousands) $ 2,591 $ 1,813 $ 1,751 The table below sets forth the assumptions used in valuing the performance units granted during the years ended December 31, 2017 and 2016 . Performance Units Assumptions Grant date January 6, 2017 March 8, 2016 Expected volatility 23.0 % 23.0 % Expected dividend yield 6.0 % 6.0 % Risk-free interest rate 1.61 % 1.08 % Fair value of performance units grant (in thousands) $ 2,882 $ 2,614
Summary of Equity Compensation Expense	The following table summarizes the amount recorded in general and administrative expenses in the accompanying Consolidated Statements of Operations for the amortization of restricted shares of common stock, LTIP units, Performance-based Compensation Plans, and the Company’s board of directors’ compensation for the years ended December 31, 2017 , 2016 and 2015 . Year ended December 31, Non-Cash Compensation Expense (in thousands) 2017 2016 2015 Restricted shares of common stock $ 2,373 $ 2,157 $ 1,932 LTIP units 4,675 6,089 (1) 4,774 Performance-based Compensation Plans 2,147 1,137 523 Board of directors compensation (2) 352 346 349 Total non-cash compensation expense $ 9,547 $ 9,729 $ 7,578 (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) 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, 2017 , 2016 and 2015 . 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, 2017
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, 2017 , 2016 and 2015 . Year ended December 31, Earnings Per Share (in thousands, except share data) 2017 2016 2015 Numerator Net income (loss) $ 32,200 $ 35,588 $ (29,345 ) Less: preferred stock dividends 9,794 13,897 10,848 Less: amount allocated to participating securities 334 384 385 Less: income (loss) attributable to noncontrolling interest after preferred stock dividends 941 1,069 (1,962 ) Net income (loss) attributable to common stockholders $ 21,131 $ 20,238 $ (38,616 ) Denominator Weighted average common shares outstanding — basic 89,537,714 70,637,185 66,307,972 Effect of dilutive securities (1) Share-based compensation 465,845 215,363 — Weighted average common shares outstanding — diluted 90,003,559 70,852,548 66,307,972 Net income (loss) per share — basic and diluted Net income (loss) per share attributable to common stockholders — basic $ 0.24 $ 0.29 $ (0.58 ) Net income (loss) per share attributable to common stockholders — diluted $ 0.23 $ 0.29 $ (0.58 )

Future Minimum Rents (Tables)

Future Minimum Rents (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 are approximately as follows. Year Future Minimum Rents (in thousands) 2018 $ 263,703 2019 $ 235,967 2020 $ 203,058 2021 $ 158,243 2022 $ 126,990 Thereafter $ 442,259 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, 2017 are as follows. To the extent any tenant is responsible for those costs under its respective lease, those costs have been excluded from the table below. Year Future Minimum Rental Payments (1) (in thousands) 2018 $ 1,962 2019 $ 2,000 2020 $ 2,015 2021 $ 1,120 2022 $ 817 Thereafter $ 31,488 (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, 2017
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, 2017 are approximately as follows. Year Future Minimum Rents (in thousands) 2018 $ 263,703 2019 $ 235,967 2020 $ 203,058 2021 $ 158,243 2022 $ 126,990 Thereafter $ 442,259 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, 2017 are as follows. To the extent any tenant is responsible for those costs under its respective lease, those costs have been excluded from the table below. Year Future Minimum Rental Payments (1) (in thousands) 2018 $ 1,962 2019 $ 2,000 2020 $ 2,015 2021 $ 1,120 2022 $ 817 Thereafter $ 31,488 (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, 2017ft²tenantstatebuilding	Dec. 31, 2016
Real Estate Properties [Line Items]
Ownership interest in Operating Partnership (as a percent)	95.90%	95.70%
Number of properties	356
Number of states in which the entity owned buildings | state	37
Area (in square feet) | ft²	70.2
Percentage of buildings leased to tenants	95.30%
Number of tenants | tenant	312
Warehouse - Distribution buildings
Real Estate Properties [Line Items]
Number of properties	288
Light Manufacturing buildings
Real Estate Properties [Line Items]
Number of properties	52
Office/Flex buildings
Real Estate Properties [Line Items]
Number of properties	14
Held For Sale Property
Real Estate Properties [Line Items]
Number of properties	2

Summary of Significant Accoun36

Summary of Significant Accounting Policies - Real Estate and Deferred Lease Intangibles (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Rental Property and Depreciation
Write-off of tenant improvements	$ 2.2	$ 2.6
Write-off of deferred leasing intangible assets	30	17.9
Write-off of deferred leasing intangible liabilities	$ 1.5	$ 0
Building
Rental Property and Depreciation
Useful life	40 years	40 years
Building and land improvements | Maximum
Rental Property and Depreciation
Useful life	20 years	20 years

Summary of Significant Accoun37

Summary of Significant Accounting Policies - Tenant Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Tenant Accounts Receivable, net
Lease security deposits available in existing letters of credit	$ 12.7	$ 9
Cash and Cash Equivalents
Tenant Accounts Receivable, net
Security deposit	7.4	5.4
Restricted Cash
Tenant Accounts Receivable, net
Security deposit	0.7	0.4
Security Deposits
Tenant Accounts Receivable, net
Lease security deposits available in cash	8.1	5.8
Trade Accounts Receivable [Member]
Tenant Accounts Receivable, net
Allowance for doubtful accounts	0.1	0.2
Accrued Rental Income [Member]
Tenant Accounts Receivable, net
Allowance for doubtful accounts	0.2	0
Accrued rental revenue	$ 24.7	$ 18.4

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Goodwill (Details)	12 Months Ended
	Dec. 31, 2017USD ($)
Goodwill [Line Items]
Goodwill impairment loss	$ 0
Prepaid Expenses and Other Assets
Goodwill [Line Items]
Goodwill	$ 4,900,000

Summary of Significant Accoun39

Summary of Significant Accounting Policies - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 29, 2017	Sep. 29, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Dividends, Common Stock [Abstract]
Ordinary income (in dollars per share)												$ 0.965483	$ 0.944038	$ 0.777244
Return of capital (in dollars per share)												0.437852	0.445125	0.582756
Total (in dollars per share)												$ 1.403335	$ 1.389163	$ 1.360000
Ordinary income (as a percent)												68.80%	68.00%	57.20%
Return of capital (as a percent)												31.20%	32.00%	42.80%
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)									$ 0.1175	$ 0.115833
Series A Preferred Stock
Dividends, Preferred Stock [Abstract]
Series A Preferred stock dividends paid													$ 5.2	$ 6.2
Dividend paid on preferred stock (in dollars per share)					$ 0.19375	$ 0.56250	$ 0.56250	$ 0.56250					$ 1.88125	$ 2.25
Series B, 2,800,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2017 and December 31, 2016
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	$ 1.65625
Series C Preferred Stock
Dividends, Preferred Stock [Abstract]
Series A Preferred stock dividends paid												$ 5.2	$ 4.1
Dividend paid on preferred stock (in dollars per share)	$ 0.4296875	$ 0.4296875	$ 0.4296875	$ 0.4296875	$ 0.4296875	$ 0.4296875	$ 0.4965300	$ 0				$ 1.7187500	$ 1.3559050

Summary of Significant Accoun40

Summary of Significant Accounting Policies - Revenue Recognition (Details)	May 18, 2015ft²	Dec. 17, 2014USD ($)ft²	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Mar. 27, 2017USD ($)	Feb. 09, 2017USD ($)	Dec. 21, 2016USD ($)	Oct. 20, 2015USD ($)	Oct. 19, 2015USD ($)
Revenue Recognition
Estimated amount of real estate taxes, which are the responsibility of tenants			$ 12,400,000	$ 10,900,000	$ 10,200,000
Buena Vista, VA, Q3 2012
Revenue Recognition
Lease Termination Fee Receivable						$ 500,000
Buena Vista, VA, Q3 2012 | Rental income
Revenue Recognition
Gain (Loss) on Contract Termination			400,000
Dayton, OH, Q4 2007
Revenue Recognition
Lease Termination Fee Receivable									$ 200,000
Dayton, OH, Q4 2007 | Rental income
Revenue Recognition
Gain (Loss) on Contract Termination				200,000	100,000
Southfield, MI, Q2 2013
Revenue Recognition
Lease Termination Fee Receivable										$ 900,000
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		$ 2,100,000
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					$ 2,000,000
Belvidere, IL, Q2 2013, Six
Revenue Recognition
Lease Termination Fee Receivable							$ 54,000
Golden, CO, Q1 2013
Revenue Recognition
Lease Termination Fee Receivable								$ 900,000
Golden, CO, Q1 2013 | Rental income
Revenue Recognition
Gain (Loss) on Contract Termination			$ 800,000	$ 100,000

Summary of Significant Accoun41

Summary of Significant Accounting Policies - Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Net income (loss)	$ 32,200,000	$ 35,588,000	$ (29,345,000)
Reconciliation of net loss to taxable income
Net income (loss)	32,200,000	35,588,000	(29,345,000)
Book/Tax differences from depreciation and amortization	80,416,000	66,763,000	60,959,000
Above/Below market lease amortization	4,583,000	6,213,000	8,526,000
Loss on Impairments	1,879,000	16,845,000	29,272,000
Formation transaction costs	(786,000)	678,000	(1,815,000)
Book/Tax difference on property acquisition costs	5,262,000	4,498,000	4,400,000
Loss on extinguishment of debt	15,000	(17,000)	0
Accrued bonus payment	745,000	1,170,000	(337,000)
Book/Tax difference on bad debt expense	(91,000)	83,000	2,000
Book/Tax difference on non-cash compensation	6,270,000	7,188,000	4,662,000
Book/Tax difference on gain on sale of real estate	(26,134,000)	(53,580,000)	(10,653,000)
Straight-line rent adjustments, net	(6,689,000)	(2,495,000)	(3,405,000)
Book/Tax difference on non-cash portion of interest expense	1,897,000	1,631,000	1,266,000
Book/tax difference on prepaid rent of Sec. 467 leases	(122,000)	(274,000)	1,887,000
Reconciliation of Net Income (Loss) to Taxable Income Gain on Involuntary Conversion	(325,000)	0	0
Other book/tax differences, net	465,000	284,000	180,000
Loss attributable to noncontrolling interest	(4,572,000)	(4,069,000)	(3,011,000)
Taxable income subject to distribution requirement	$ 95,013,000	$ 80,506,000	$ 62,588,000
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	$ 1,000,000	$ 900,000
Liabilities for uncertain tax positions	0	0	0
Taxable Real Estate Investment Trust Subsidy [Member]
Business Acquisition [Line Items]
Net income (loss)	(400,000)	(100,000)	(25,000)
Reconciliation of net loss to taxable income
Net income (loss)	$ (400,000)	$ (100,000)	$ (25,000)

Summary of Significant Accoun42

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Segments (Details)	12 Months Ended
	Dec. 31, 2017segment	Dec. 31, 2016segment	Dec. 31, 2015segment
Segment Reporting [Abstract]
Number of Reportable Segments	1	1	1
Number of Operating Segments	1	1	1

Rental Property - Summary (Deta

Rental Property - Summary (Details) $ in Thousands	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)building
Property Subject to or Available for Operating Lease [Line Items]
Number of Properties in Redevelopment | building		1
Rental property, net	$ 2,567,577	$ 2,116,836
Deferred leasing intangibles assets, accumulated amortization	280,642	237,456
Land
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	321,560	272,162
Building
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	1,756,579	1,408,406
Rental property, accumulated depreciation	160,281	125,971
Tenant improvements
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	30,138	24,974
Rental property, accumulated depreciation	32,714	28,388
Building and land improvements
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	143,170	107,463
Rental property, accumulated depreciation	56,062	33,054
Construction in Progress [Member]
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	2,877	9,298
Deferred leasing intangibles
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	313,253	294,533
Deferred leasing intangibles assets, accumulated amortization	$ 280,642	$ 237,456

Rental Property - Acquisitions

Rental Property - Acquisitions (Details) $ in Thousands	May 31, 2017USD ($)	Dec. 31, 2017USD ($)ft²building	Sep. 30, 2017USD ($)ft²building	Jun. 30, 2017USD ($)ft²building	Mar. 31, 2017USD ($)ft²building	Dec. 31, 2016USD ($)ft²building	Sep. 30, 2016USD ($)ft²building	Jun. 30, 2016USD ($)ft²abuilding	Mar. 31, 2016USD ($)ft²abuilding	Dec. 31, 2017USD ($)ft²building	Dec. 31, 2016USD ($)ft²building
Business Acquisition [Line Items]
Area (in square feet) | ft²		70,200,000								70,200,000
Acquisitions 2,017
Business Acquisition [Line Items]
Area (in square feet) | ft²		11,117,656								11,117,656
Number of buildings acquired | building										53
Purchase price | $										$ 612,511
Acquisitions Q1 2017
Business Acquisition [Line Items]
Area (in square feet) | ft²					2,334,622
Number of buildings acquired | building					11
Purchase price | $					$ 99,787
Sparks, NV, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					174,763
Number of buildings acquired | building					1
Purchase price | $					$ 8,380
Salisbury, NC, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					288,000
Number of buildings acquired | building					1
Purchase price | $					$ 8,250
Franklin Township, NJ, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					183,000
Number of buildings acquired | building					1
Purchase price | $					$ 12,800
Milford, CT, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					200,000
Number of buildings acquired | building					1
Purchase price | $					$ 12,762
Bedford Heights, OH, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					173,034
Number of buildings acquired | building					1
Purchase price | $					$ 7,622
Redford, MI, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					135,728
Number of buildings acquired | building					1
Purchase price | $					$ 7,769
Warren, MI, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					154,377
Number of buildings acquired | building					1
Purchase price | $					$ 7,940
Jacksonville, FL, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²					1,025,720
Number of buildings acquired | building					4
Purchase price | $					$ 34,264
Acquisitions Q2 2017
Business Acquisition [Line Items]
Area (in square feet) | ft²				4,573,794
Number of buildings acquired | building				21
Purchase price | $				$ 285,606
Waukegan, IL, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				261,075
Number of buildings acquired | building				2
Purchase price | $				$ 13,850
Gaffney, SC, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				226,968
Number of buildings acquired | building				1
Purchase price | $				$ 7,200
Dayton, OH, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				569,966
Number of buildings acquired | building				1
Purchase price | $				$ 29,750
Belvidere, IL, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				336,204
Number of buildings acquired | building				1
Purchase price | $				$ 22,867
San Diego, CA, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				205,440
Number of buildings acquired | building				1
Purchase price | $	$ 19,362			$ 19,362
Edwardsville, KS, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				270,869
Number of buildings acquired | building				1
Purchase price | $				$ 16,270
Pedricktown, NJ, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				245,749
Number of buildings acquired | building				1
Purchase price | $				$ 16,000
Walton, KY, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				224,921
Number of buildings acquired | building				1
Purchase price | $				$ 11,450
Rock HIll, SC, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				275,000
Number of buildings acquired | building				1
Purchase price | $				$ 6,675
Laredo, TX, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				206,810
Number of buildings acquired | building				1
Purchase price | $				$ 13,500
Clinton, PA, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				297,200
Number of buildings acquired | building				1
Purchase price | $				$ 23,650
Batavia, IL, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				102,500
Number of buildings acquired | building				1
Purchase price | $				$ 5,900
Wallingford, CT, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				105,000
Number of buildings acquired | building				1
Purchase price | $				$ 8,200
Rockwall, TX, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				389,546
Number of buildings acquired | building				1
Purchase price | $				$ 28,600
Houston, TX, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				232,800
Number of buildings acquired | building				3
Purchase price | $				$ 25,000
Lebanon, PA, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				211,358
Number of buildings acquired | building				1
Purchase price | $				$ 7,950
Maple Grove, MN, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				108,628
Number of buildings acquired | building				1
Purchase price | $				$ 10,031
Romulus, MI, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²				303,760
Number of buildings acquired | building				1
Purchase price | $				$ 19,351
Acquisitions Q3 2017
Business Acquisition [Line Items]
Area (in square feet) | ft²			2,295,030
Number of buildings acquired | building			10
Purchase price | $			$ 119,726
Stone Mountain, GA, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			78,000
Number of buildings acquired | building			1
Purchase price | $			$ 4,175
York, PA, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			382,886
Number of buildings acquired | building			1
Purchase price | $			$ 18,981
Pittston, PA, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			437,446
Number of buildings acquired | building			1
Purchase price | $			$ 23,950
O'Fallon, MO, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			109,854
Number of buildings acquired | building			1
Purchase price | $			$ 5,740
Belleville, MI, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			160,464
Number of buildings acquired | building			1
Purchase price | $			$ 8,641
Columbus, OH, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			147,645
Number of buildings acquired | building			1
Purchase price | $			$ 6,954
Groveport, OH, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			320,657
Number of buildings acquired | building			1
Purchase price | $			$ 13,643
Las Vegas, NV, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			34,916
Number of buildings acquired | building			1
Purchase price | $			$ 4,642
Mooresville, NC, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			499,200
Number of buildings acquired | building			1
Purchase price | $			$ 25,750
Swedesboro, NJ, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²			123,962
Number of buildings acquired | building			1
Purchase price | $			$ 7,250
Acquisitions Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		1,914,210								1,914,210
Number of buildings acquired | building		11
Purchase price | $		$ 107,392
Council Bluffs, IA, Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		90,000								90,000
Number of buildings acquired | building		1
Purchase price | $		$ 6,600
Hilliard, OH, Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		237,500								237,500
Number of buildings acquired | building		1
Purchase price | $		$ 8,717
Fountain Inn, SC, Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		264,385								264,385
Number of buildings acquired | building		1
Purchase price | $		$ 18,200
West Columbia, SC, Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		200,000								200,000
Number of buildings acquired | building		1
Purchase price | $		$ 10,000
Avondale, AZ, Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		186,643								186,643
Number of buildings acquired | building		1
Purchase price | $		$ 16,500
El Paso, TX, Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		498,382								498,382
Number of buildings acquired | building		2
Purchase price | $		$ 16,850
Stafford, TX, Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		68,300								68,300
Number of buildings acquired | building		1
Purchase price | $		$ 8,100
South Easton, MA, Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		86,000								86,000
Number of buildings acquired | building		1
Purchase price | $		$ 8,125
Madison, WI, Q4 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet) | ft²		283,000								283,000
Number of buildings acquired | building		2
Purchase price | $		$ 14,300
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

Rental Property - Acquisition45

Rental Property - Acquisitions - Allocation of Consideration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
In-place leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ 62,493	$ 62,533
Acquisitions 2,016
Business Acquisition [Line Items]
Purchase price		471,798
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
Deferred leasing intangibles - 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 note assumed		(4,037)
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
Acquisitions 2016 | Leases, Acquired-in-Place, Market Adjustment [Member]
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles		$ 0
Acquisitions 2,017
Business Acquisition [Line Items]
Purchase price	612,511
Allocation of the consideration paid for the acquired assets and liabilities
Land	59,004
Buildings	413,829
Tenant improvements	10,044
Building and land improvements	31,848
Deferred leasing intangibles - Below market leases	$ (5,222)
Acquired Below Market Leases, Weighted Average Useful Life	8 years 6 months
Above market assumed debt adjustment	$ 0
Other assets	0
Total purchase price	612,511
Less: Mortgage note assumed	0
Net assets acquired	$ 612,511
Acquisitions 2017 | In-place leases
Allocation of the consideration paid for the acquired assets and liabilities
Weighted average amortization period of lease intangibles	8 years 3 months
Acquisitions 2017 | Tenant relationships
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ 27,056
Weighted average amortization period of lease intangibles	10 years 9 months
Acquisitions 2017 | Above market leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ 14,375
Weighted average amortization period of lease intangibles	10 years 7 months
Acquisitions 2017 | Leases, Acquired-in-Place, Market Adjustment [Member]
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ (916)
Weighted average amortization period of lease intangibles	49 years

Rental Property - Narrative (De

Rental Property - Narrative (Details) - USD ($) $ in Thousands	May 31, 2017	Sep. 29, 2016	Jun. 30, 2017	Sep. 30, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Property acquisition costs					$ 5,386	$ 4,567	$ 4,757
San Diego, CA, Q2 2017 [Member]
Business Acquisition [Line Items]
Purchase price	$ 19,362		$ 19,362
Other common units issued for property acquisition (in units)	687,827
Other common units issued for property acquisition, fair value	$ 18,600
Rock Hill, SC, Q3 2016 [Member]
Business Acquisition [Line Items]
Purchase price				$ 9,850
Mortgage note assumed		$ 4,000
Other Common Units | San Diego, CA, Q2 2017 [Member]
Business Acquisition [Line Items]
Other common units issued for property acquisition (in units)	687,827
Other common units issued for property acquisition, fair value	$ 18,600

Rental Property - Acquisition47

Rental Property - Acquisitions - Pro Forma (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Property acquisition costs	$ 5,386	$ 4,567	$ 4,757
Acquisitions 2,017
Business Acquisition [Line Items]
Revenue	27,918
Property acquisition costs	5,181
Net income (loss)	(1,473)
Pro forma information
Total revenue	326,994	321,512
Net loss (2)	40,519	24,520
Net loss attributable to common stockholders	29,101	9,715
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Property acquisition costs	$ 5,200	4,400
Acquisitions 2,016
Business Acquisition [Line Items]
Revenue		13,105
Property acquisition costs		4,386
Net income (loss)		$ (3,560)

Rental Property - Disposals (De

Rental Property - Disposals (Details) $ in Thousands, ft² in Millions	12 Months Ended
	Dec. 31, 2017USD ($)ft²buildingproperty	Dec. 31, 2016USD ($)ft²building	Dec. 31, 2015USD ($)ft²building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area (in square feet) | ft²	70.2
Carrying value of property sold	$ 2,567,577	$ 2,116,836
Assets held for sale, net	19,916	0
Deferred leasing intangibles, net of accumulated amortization of $280,642 and $237,456, respectively	$ 313,253	294,533
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2017 Disposals [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area (in square feet) | ft²	1.9
Number of buildings disposed | building	11
Carrying value of property sold	$ 40,900
Net proceeds from sales of rental property	65,100
Gain (Loss) on Sale	24,200
Contribution to revenue	3,800	7,000	$ 6,900
Net income (loss) before gain on sale of rental property	1,500	$ 1,500	1,700
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2016 Disposals [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area (in square feet) | ft²		4.2
Number of buildings disposed | building		24
Carrying value of property sold		$ 90,300
Net proceeds from sales of rental property		152,079
Gain (Loss) on Sale		61,823
Contribution to revenue		11,200	15,600
Net income (loss) before gain on sale of rental property		1,300	$ 1,300
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2015 Disposals [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area (in square feet) | ft²			0.8
Number of buildings disposed | building			6
Carrying value of property sold			$ 17,200
Net proceeds from sales of rental property			22,163
Gain (Loss) on Sale			4,986
Contribution to revenue			2,000
Net income (loss) before gain on sale of rental property			800
Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contribution to revenue	2,900	2,600	2,200
Net income (loss) before gain on sale of rental property	900	$ 300	$ 300
Deferred leasing intangibles, net of accumulated amortization of $280,642 and $237,456, respectively	2,100
Land [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net	4,200
Building and Building Improvements [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale, net	$ 13,600
Held For Sale Property | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties Held-for-sale | property	2

Rental Property - Loss on Impai

Rental Property - Loss on Impairments (Details) $ in Thousands	3 Months Ended						12 Months Ended
	Dec. 31, 2017USD ($)buildingRate	Dec. 31, 2016USD ($)buildingRate	Jun. 30, 2016USD ($)buildingRate	Dec. 31, 2015USD ($)building	Sep. 30, 2015USD ($)building	Jun. 30, 2015USD ($)building	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Partial disposal of building due to involuntary conversion of building							$ 363	$ 779	$ 0
2017 Impairments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment							1,879
2017 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	$ 1,543						1,543
Q4 2017 Impairments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment	1,879
Q4 2017 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	$ 1,543						1,543
Discount rate at which cash flows are discounted (as a percent) | Rate	10.00%
Fair value inputs, exit capitalization rate (as a percent) | Rate	10.00%
2016 Impairments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment								16,845
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						14,958
Q2 2016 Impairments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment			$ 11,231
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
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 | building			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
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 | building			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 | building			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 | building			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 | building			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 | building			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 | building			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
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						4,360
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 | building		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 | building		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 | building		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
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					33,153
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
Loss on impairment						2,645
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 | building						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
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
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 | building					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 | building					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
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					22,238
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 | building					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 | building				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
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired | building	1
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 | building				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 | building				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 | building				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 | building				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 | building				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 | building				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 | building				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 | building				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]
Partial disposal of building due to involuntary conversion of building							800
Cumulative Partial Disposal of Building Due to Involuntary Conversion	$ 1,500						1,500
Loss Contingency, Loss in Period							$ 300	$ 0

Rental Property - Deferred Leas

Rental Property - Deferred Leasing Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Above market lease, gross	$ 593,895	$ 531,989
Deferred leasing intangibles assets, accumulated amortization	(280,642)	(237,456)
Above market lease, net	313,253	294,533
Below market lease, gross	34,776	30,791
Below market lease, accumulated amortization	(13,555)	(10,450)
Below market lease, net	21,221	20,341
Net decrease to rental income related to above and below market lease amortization	4,583	6,213	$ 8,526
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
Above and Below Market Leases, Amortization Income (Expense), Next 12 months	4,475
2,018	3,881
2,019	3,466
2,020	2,140
2,021	1,172
Above market leases
Finite-Lived Intangible Assets [Line Items]
Above market lease, gross	78,558	70,668
Deferred leasing intangibles assets, accumulated amortization	(36,810)	(32,868)
Above market lease, net	41,748	37,800
Other intangible lease assets
Finite-Lived Intangible Assets [Line Items]
Above market lease, gross	515,337	461,321
Deferred leasing intangibles assets, accumulated amortization	(243,832)	(204,588)
Above market lease, net	271,505	256,733
Amortization expense related to other intangible lease assets	72,936	$ 66,291	$ 60,834
Estimated Net Amortization of In-Place Leases, Leasing Commissions and Tenant Relationships
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	63,957
2,018	49,758
2,019	39,765
2,020	29,093
2,021	$ 22,037

Debt - Summary (Details)

Debt - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jul. 28, 2017
Debt Instrument [Line Items]
Principal outstanding		$ 1,173,781	$ 1,036,139
Long-term Debt, Gross		1,179,855
Unamortized fair market value premium		$ 61
Weighted average interest rate		3.53%
Remaining borrowing capacity		$ 323,100
Debt Issuance Costs, Net		6,135
Amortization of deferred financing fees		2,087	1,698	$ 1,262
Proceeds from unsecured notes		0	$ 0	220,000
Interest Rate Swaps
Debt Instrument [Line Items]
Notional amount fixed and used to calculate interest		$ 600,000
One Month Libor [Member]
Debt Instrument [Line Items]
Variable rate basis reference rate (as a percent)		1.56425%	0.77167%
Secured Debt
Debt Instrument [Line Items]
Principal outstanding		$ 58,282	$ 163,565
Long-term Debt, Gross		58,855	164,326
Unamortized fair market value premium		61	112
Debt Issuance Costs, Net		634	873
Line of Credit [Member] | Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding		271,000	28,000
Line of Credit [Member] | Unsecured Credit Facility (3) | Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding		271,000	$ 28,000
Maximum borrowing capacity		$ 450,000
Line of Credit [Member] | Unsecured Credit Facility (3) | Unsecured Debt | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)		1.15%	1.15%
Term Loan [Member] | Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding		$ 446,265	$ 446,608
Long-term Debt, Gross		450,000	450,000
Debt Issuance Costs, Net		3,735	3,392
Unsecured Term Loan A | Unsecured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 150,000	$ 150,000
Unsecured Term Loan A | Unsecured Debt | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)		1.30%	1.30%
Unsecured Term Loan B | Unsecured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 150,000	$ 150,000
Unsecured Term Loan B | Unsecured Debt | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)		1.30%	1.30%
Unsecured Term Loan C | Unsecured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 150,000	$ 150,000
Unsecured Term Loan C | Unsecured Debt | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)		1.30%	1.30%
Unsecured Term Loan D (4) | Unsecured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 0	$ 0
Remaining borrowing capacity		$ 150,000			$ 150,000
Unsecured Term Loan D (4) | Unsecured Debt | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.30%	1.30%	0.00%
Unsecured Notes [Member] | Unsecured Debt
Debt Instrument [Line Items]
Principal outstanding		$ 398,234	$ 397,966
Long-term Debt, Gross		400,000	400,000
Debt Issuance Costs, Net		$ 1,766	2,034
Series F Unsecured Notes | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate		3.98%
Long-term Debt, Gross		$ 100,000	100,000
Series A Unsecured Notes | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate		4.98%
Long-term Debt, Gross		$ 50,000	50,000
Series D Unsecured Notes | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate		4.32%
Long-term Debt, Gross		$ 100,000	100,000
Series C Unsecured Notes | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate		4.42%
Long-term Debt, Gross		$ 80,000	80,000
Series B Unsecured Notes | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate		4.98%
Long-term Debt, Gross		$ 50,000	50,000
Series E Unsecured Notes | Unsecured Debt
Debt Instrument [Line Items]
Stated interest rate		4.42%
Long-term Debt, Gross		$ 20,000	20,000
Union Fidelity Life Insurance Company | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		5.81%
Long-term Debt, Gross		$ 0	5,384
Penalty free prepayment period		2 months
Webster Bank, National Association [Member] | Secured Debt
Debt Instrument [Line Items]
Penalty free prepayment period		3 months
Webster Bank, National Association | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		3.66%
Long-term Debt, Gross		$ 0	2,853
Webster Bank, National Association | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		3.64%
Long-term Debt, Gross		$ 0	3,073
Wells Fargo, National Association | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		5.90%
Long-term Debt, Gross		$ 0	4,043
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
Connecticut General Life Insurance Company -1 Facility | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		5.88%
Long-term Debt, Gross		$ 0	16,141
Connecticut General Life Insurance Company -2 Facility | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		5.75%
Long-term Debt, Gross		$ 0	36,892
Connecticut General Life Insurance Company -3 Facility | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		6.50%
Long-term Debt, Gross		$ 0	35,320
Wells Fargo Bank, National Association CMBS Loan | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		4.31%
Long-term Debt, Gross		$ 54,949	56,608
Penalty free prepayment period		3 months
Thrivent Financial for Lutherans | Secured Debt
Debt Instrument [Line Items]
Stated interest rate		4.78%
Long-term Debt, Gross		$ 3,906	4,012
Prepaid Expenses and Other Assets
Debt Instrument [Line Items]
Debt Issuance Costs, Net		1,500	2,300
Accounts Payable, Accrued Expenses and Other Liabilities [Member]
Debt Instrument [Line Items]
Interest payable		5,600	5,700
Interest Expense [Member] | Line of Credit [Member] | Unsecured Debt
Debt Instrument [Line Items]
Facility fee		$ 1,169	$ 1,380	$ 1,202

Debt Debt - 2017 Activity (Deta

Debt Debt - 2017 Activity (Details)	Sep. 30, 2017	Aug. 01, 2017Mortgage_Notes	Jul. 28, 2017USD ($)	Dec. 31, 2017USD ($)advance	Dec. 31, 2016
Debt Instrument [Line Items]
Remaining borrowing capacity				$ 323,100,000
Secured Debt | Connecticut General Life Insurance Company Facilities [Member]
Debt Instrument [Line Items]
Mortgage Loans on Real Estate, Number of Loans | Mortgage_Notes		3
Unsecured Debt | Unsecured Term Loan D (4)
Debt Instrument [Line Items]
Remaining borrowing capacity			$ 150,000,000	$ 150,000,000
Line of credit, accordion feature, increase limit			250,000,000
Debt Instrument, Accordion Feature, Number of Advances, Maximum | advance				6
Debt instrument, accordion feature, increase limit, minimum advance amount				$ 25,000,000
Debt Issuance Costs, Gross			1,000,000
Annual fee			$ 35,000
Unused commitment fee (as a percent)			0.15%
Unsecured Debt | Unsecured Term Loan D (4) | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.30%			1.30%	0.00%

Debt - 2016 Activity (Details)

Debt - 2016 Activity (Details) - USD ($) $ in Thousands

Dec. 29, 2016

Dec. 20, 2016

Dec. 19, 2016

Dec. 08, 2016

Nov. 14, 2016

Sep. 29, 2016

Jun. 22, 2016

Apr. 26, 2016

Mar. 17, 2016

Mar. 03, 2016

Dec. 31, 2016

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Debt Instrument [Line Items]

Assumption of mortgage notes

$ 0

$ 4,037

$ 26,267

Proceeds from unsecured notes

0

0

220,000

Debt Issuance Costs, Net

6,135

Amortization of deferred financing fees

2,087

1,698

1,262

Unsecured Debt | Line of Credit [Member] | Interest Expense [Member]

Debt Instrument [Line Items]

Facility fee

1,169

$ 1,380

$ 1,202

Unsecured Debt | Unsecured Term Loan A | LIBOR

Debt Instrument [Line Items]

Interest rate margin (as a percent)

1.30%

1.65%

Unsecured Debt | Unsecured Credit Facility (3) | Line of Credit [Member]

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 450,000

Unsecured Debt | Unsecured Credit Facility (3) | Line of Credit [Member] | LIBOR

Debt Instrument [Line Items]

Interest rate margin (as a percent)

1.15%

1.15%

Unsecured Debt | Unsecured Term Loan C

Debt Instrument [Line Items]

Proceeds from unsecured notes

$ 150,000

Unsecured Debt | Unsecured Term Loan B | LIBOR

Debt Instrument [Line Items]

Interest rate margin (as a percent)

1.30%

1.70%

Secured Debt

Debt Instrument [Line Items]

Debt Issuance Costs, Net

$ 873

$ 634

$ 873

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

Debt Instrument [Line Items]

Write off of Deferred Debt Issuance Cost

100

Secured Debt | Wells Fargo Bank, National Association CMBS Loan

Debt Instrument [Line Items]

Extinguishment of Debt, Amount

$ 1,500

$ 1,200

Write off of Deferred Debt Issuance Cost

200

Secured Debt | Connecticut General Life Insurance Company -2 Facility

Debt Instrument [Line Items]

Extinguishment of Debt, Amount

$ 3,600

$ 6,200

$ 10,500

Write off of Deferred Debt Issuance Cost

900

Secured Debt | Connecticut General Life Insurance Company -3 Facility

Debt Instrument [Line Items]

Extinguishment of Debt, Amount

$ 21,000

Write off of Deferred Debt Issuance Cost

900

Rock Hill, SC, Q3 2016 [Member]

Debt Instrument [Line Items]

Mortgage note assumed

$ 4,000

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

Debt Instrument [Line Items]

Assumption of mortgage notes

$ 4,000

Stated interest rate

4.78%

Liability, fair value adjustment

$ 100

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

4.45%

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

Debt Instrument [Line Items]

Write off of Deferred Debt Issuance Cost

100

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

Debt Instrument [Line Items]

Extinguishment of Debt, Amount

$ 1,700

Write off of Deferred Debt Issuance Cost

200

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

Debt Instrument [Line Items]

Extinguishment of Debt, Amount

$ 1,800

Write off of Deferred Debt Issuance Cost

300

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

Debt Instrument [Line Items]

Write off of Deferred Debt Issuance Cost

$ 200

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

Debt Instrument [Line Items]

Write off of Deferred Debt Issuance Cost

$ 300

Debt - Financial Covenants (Det

Debt - Financial Covenants (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Covenant and other disclosures
Net book value of properties that are collateral for debt arrangements	$ 90.9	$ 229.9
Unsecured Notes [Member] | Unsecured Debt
Covenant and other disclosures
Interest coverage ratio	1.50	1.50
Credit Facility, Term Loans & Notes | Unsecured Debt
Covenant and other disclosures
Consolidated leverage ratio	0.60	0.60
Secured leverage ratio	0.40	0.40
Unencumbered leverage ratio	0.60	0.60
Secured recourse debt level	0.075	0.075
Fixed charge ratio	1.50	1.50
Unsecured interest ratio	1.75	1.75

Debt - Fair Value (Details)

Debt - Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 1,179,855
Unamortized fair market value premium	61
Debt Issuance Costs, Net	6,135
Principal outstanding	1,173,781	$ 1,036,139
Unsecured Debt | Line of Credit [Member]
Debt Instrument [Line Items]
Principal outstanding	271,000	28,000
Unsecured Debt | Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	450,000	450,000
Debt Issuance Costs, Net	3,735	3,392
Principal outstanding	446,265	446,608
Unsecured Debt | Unsecured Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	400,000	400,000
Debt Issuance Costs, Net	1,766	2,034
Principal outstanding	398,234	397,966
Secured Debt
Debt Instrument [Line Items]
Long-term Debt, Gross	58,855	164,326
Unamortized fair market value premium	61	112
Debt Issuance Costs, Net	634	873
Principal outstanding	58,282	163,565
Carrying Amount
Debt Instrument [Line Items]
Long-term Debt, Gross	1,179,855	1,042,326
Unamortized fair market value premium	61	112
Debt Issuance Costs, Net	6,135	6,299
Principal outstanding	1,173,781	1,036,139
Carrying Amount | Unsecured Debt | Line of Credit [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	271,000	28,000
Carrying Amount | Unsecured Debt | Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	450,000	450,000
Carrying Amount | Unsecured Debt | Unsecured Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	400,000	400,000
Carrying Amount | Secured Debt | Mortgages [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	58,855	164,326
Level 3 Inputs | Fair Value
Debt Instrument [Line Items]
Long-term Debt, Fair Value	1,198,359	1,043,190
Level 3 Inputs | Fair Value | Unsecured Debt | Line of Credit [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	271,528	28,000
Level 3 Inputs | Fair Value | Unsecured Debt | Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	451,463	450,000
Level 3 Inputs | Fair Value | Unsecured Debt | Unsecured Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	415,599	399,091
Level 3 Inputs | Fair Value | Secured Debt | Mortgages [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 59,769	$ 166,099
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)	2.61%	1.92%
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)	4.40%	4.85%

Debt - Future Principal Payment

Debt - Future Principal Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Aggregate future principal payments of mortgage notes payable, Unsecured credit facility
2,018	$ 1,844
2,019	272,926
2,020	152,006
2,021	152,103
2,022	197,681
Thereafter	403,295
Total aggregate principal payments	1,179,855
Unamortized fair market value premium	61
Debt Issuance Costs, Net	(6,135)
Principal outstanding	$ 1,173,781	$ 1,036,139

Use of Derivative Financial I57

Use of Derivative Financial Instruments - Risk Management and Unsecured Loan Swaps (Details) $ in Thousands	Dec. 31, 2017USD ($)
Interest Rate Swaps
Unsecured Term Loan Swaps
Notional amount	$ 600,000
Interest Rate Derivative, Regions Bank, March 01, 2013 [Member]
Unsecured Term Loan Swaps
Notional amount	25,000
Fair value	$ 331
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	$ 293
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	$ 135
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	$ (18)
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	$ 266
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	$ 263
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	$ 276
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	$ (566)
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	$ (107)
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	$ (236)
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	$ (290)
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	$ 427
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	$ 845
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	$ 596
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	$ 421
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	$ 252
Fixed Interest Rate (as a percent)	1.395%
Interest Rate Derivative, The Toronto-Dominion Bank, October 30, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount	$ 25,000
Fair value	$ 327
Fixed Interest Rate (as a percent)	1.8485%
Interest Rate Derivative, Royal Bank of Canada, October 30, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount	$ 25,000
Fair value	$ 329
Fixed Interest Rate (as a percent)	1.8505%
Interest Rate Derivative, Wells Fargo Bank, October 30, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount	$ 25,000
Fair value	$ 329
Fixed Interest Rate (as a percent)	1.8505%
Interest Rate Derivative, PNC Bank, $25m, October 30, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount	$ 25,000
Fair value	$ 329
Fixed Interest Rate (as a percent)	1.8485%
Interest Rate Derivative, PNC Bank, $50m, October 30, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount	$ 50,000
Fair value	$ 660
Fixed Interest Rate (as a percent)	1.8475%

Use of Derivative Financial I58

Use of Derivative Financial Instruments - FV of Interest Rate Swaps (Details) - Interest Rate Swaps - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair value of the interest rate swaps outstanding
Notional amount assets	$ 475,000	$ 300,000
Fair value - assets	6,079	1,471
Notional amount liabilities	250,000	375,000
Fair Value - liabilities	$ (1,217)	$ (2,438)

Use of Derivative Financial I59

Use of Derivative Financial Instruments - Cash Flow Hedges and Contingent Features (Details) - Interest Rate Swaps - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash Flow Hedges of Interest Rate Risk
Gain (loss) on cash flow hedge ineffectiveness, net	$ 190	$ 66
Additional amount reclassified from accumulated other comprehensive income (loss) as an increase to interest expense over the next twelve months	100
Amount of income (loss) recognized in accumulated other comprehensive income (loss) on interest rate swaps (effective portion)	3,597	(2,244)	$ (5,387)
Amount of loss reclassified from accumulated other comprehensive income (loss) into income (loss) as interest expense (effective portion)	2,073	3,142	3,431
Amount of gain recognized in interest expense (ineffective portion)	$ 190	$ 66	$ 0

Use of Derivative Financial I60

Use of Derivative Financial Instruments - FV on Recurring Basis (Details) - Interest Rate Swaps - Fair value on recurring basis - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets (liabilities):
Interest Rate Swaps - Asset	$ 6,079	$ 1,471
Interest Rate Swaps - Liabilities	(1,217)	(2,438)
Level 1
Assets (liabilities):
Interest Rate Swaps - Asset	0	0
Interest Rate Swaps - Liabilities	0	0
Level 2
Assets (liabilities):
Interest Rate Swaps - Asset	6,079	1,471
Interest Rate Swaps - Liabilities	(1,217)	(2,438)
Level 3
Assets (liabilities):
Interest Rate Swaps - Asset	0	0
Interest Rate Swaps - Liabilities	$ 0	$ 0

Equity Equity - Preferred Stock

Equity Equity - Preferred Stock (Details) - $ / shares	Feb. 14, 2018	Dec. 29, 2017	Nov. 02, 2017	Sep. 29, 2017	Jul. 31, 2017	Jun. 30, 2017	May 01, 2017	Mar. 31, 2017	Feb. 15, 2017	Dec. 30, 2016	Nov. 02, 2016	Sep. 30, 2016	Aug. 01, 2016	Jun. 30, 2016	May 02, 2016	Mar. 31, 2016	Feb. 22, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Preferred stock, shares authorized																		15,000,000	15,000,000
Preferred stock, par value (in dollars per share)																		$ 0.01	$ 0.01
Series C Preferred Stock
Class of Stock [Line Items]
Number of shares sold																		3,000,000
Issue price (in dollars per share)																		$ 25
Dividend rate (as a percent)																		6.875%
Dividend declared (in dollars per share)			$ 0.4296875		$ 0.4296875		$ 0.4296875		$ 0.4296875		$ 0.4296875		$ 0.4296875		$ 0.4965300		$ 0	$ 1.7187500	1.3559050
Dividend paid on preferred stock (in dollars per share)		$ 0.4296875		$ 0.4296875		$ 0.4296875		$ 0.4296875		$ 0.4296875		$ 0.4296875		$ 0.4965300		$ 0		$ 1.7187500	1.3559050
Series C Preferred Stock | Subsequent Event [Member]
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		1.88125
Dividend paid on preferred stock (in dollars per share)										0.19375		0.56250		0.56250		0.56250			1.88125	$ 2.25
Series B, 2,800,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2017 and December 31, 2016
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	$ 1.65625
Series B, 2,800,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2017 and December 31, 2016 | Subsequent Event [Member]
Class of Stock [Line Items]
Dividend declared (in dollars per share)	$ 0.4140625

Equity Equity - Common Stock (D

Equity Equity - Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 16, 2018	Dec. 15, 2017	Nov. 15, 2017	Nov. 02, 2017	Oct. 16, 2017	Sep. 15, 2017	Aug. 15, 2017	Jul. 31, 2017	Jul. 17, 2017	Jun. 15, 2017	May 15, 2017	May 01, 2017	Apr. 17, 2017	Mar. 15, 2017	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	Oct. 22, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Proceeds from sales of common stock																																	$ 427,542	$ 282,669	$ 74,892
Common Stock
Class of Stock [Line Items]
Dividends paid (in dollars per share)		$ 0.117500	$ 0.117500		$ 0.117500	$ 0.117500	$ 0.117500		$ 0.116667	$ 0.116667	$ 0.116667		$ 0.116667	$ 0.116667	$ 0.116667	$ 0.115833	$ 0.115833	$ 0.115833		$ 0.115833	$ 0.115833	$ 0.115833		$ 0.115833	$ 0.115833	$ 0.115833		$ 0.115833	$ 0.115833		$ 0.115833		$ 1.405002	$ 1.389996
Dividend declared (in dollars per share)				$ 0.118333				$ 0.117500				$ 0.117500			$ 0.116667				$ 0.116667				$ 0.115833				$ 0.115833			$ 0.115833		$ 0.115833		$ 1.405002	$ 1.389996
At The Market Program 2017 $500 Million [Member] | Common Stock
Class of Stock [Line Items]
Number of shares sold																																	363,843
Maximum aggregate offering price under at-the-market program																																	$ 500,000
Aggregate value of common stock available to be sold under the ATM																																	489,674
Proceeds from sales of common stock																																	10,326
Sales agents' fee																																	129
Net proceeds																																	$ 10,197
At The Market Program 2017 $300 Million [Member] | Common Stock
Class of Stock [Line Items]
Number of shares sold																																	11,098,748
Proceeds from sales of common stock																																	$ 300,000
Sales agents' fee																																	3,637
Net proceeds																																	$ 296,363
At The Market Program 2016 $228 Million [Member] | Common Stock
Class of Stock [Line Items]
Number of shares sold																																	4,799,784	4,763,838
Proceeds from sales of common stock																																	$ 117,216	$ 110,887
Sales agents' fee																																	1,604	1,550
Net proceeds																																	$ 115,612	$ 109,337
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
Sales agents' fee																																		2,429
Net proceeds																																		$ 169,353
At The Market (ATM) Program | Common Stock
Class of Stock [Line Items]
Number of shares sold																																	16,262,375	12,090,038
Proceeds from sales of common stock																																	$ 427,542	$ 282,669
Sales agents' fee																																	5,370	3,979
Net proceeds																																	$ 422,172	$ 278,690
Weighted Average [Member] | At The Market Program 2017 $500 Million [Member] | Common Stock
Class of Stock [Line Items]
Issue price (in dollars per share)																																	$ 28.38
Weighted Average [Member] | At The Market Program 2017 $300 Million [Member] | Common Stock
Class of Stock [Line Items]
Issue price (in dollars per share)																																	27.03
Weighted Average [Member] | At The Market Program 2016 $228 Million [Member] | Common Stock
Class of Stock [Line Items]
Issue price (in dollars per share)																																	24.42	$ 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] | At The Market (ATM) Program | Common Stock
Class of Stock [Line Items]
Issue price (in dollars per share)																																	$ 26.29	$ 23.38
Subsequent Event [Member] | Common Stock
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.117500

Equity Equity - Restricted Stoc

Equity Equity - Restricted Stock (Details) - 2011 Equity Incentive Plan - Restricted stock - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Shares
Unvested at beginning of period (in shares)	272,337	271,115	263,916
Granted (in shares)	75,001	101,289	94,290
Vested (in shares)	(109,209)	(98,746)	(72,185)
Forfeited (in shares)	(922)	(1,321)	(14,906)
Unvested at end of period (in shares)	237,207	272,337	271,115
Grant date fair value (in dollars per share)	$ 24.41	$ 17.98	$ 26.17
Unrecognized compensation costs	$ 2,700
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 4 months 29 days
Vested (in shares)	(109,209)	(98,746)	(72,185)
Fair value of shares vested	$ 2,591	$ 1,813	$ 1,751
Granted on January 12, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Granted on January 6, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Granted on January 8, 2016 [Member]
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, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Noncontrolling interest
Noncontrolling interest ownership percentage	4.10%	4.30%	4.90%	3.60%
2011 Equity Incentive Plan | LTIP Units
Summary of nonvested share-based compensation activity
Unvested at beginning of period (in shares)	403,423	534,910	448,887
Granted (in shares)	126,239	176,396	323,069
Vested (in shares)	(229,355)	(307,883)	(237,046)
Unvested at end of period (in shares)	300,307	403,423	534,910
Fair value of shares vested	$ 6,101	$ 6,393	$ 4,853
Noncontrolling Interest - Unit holders in Operating Partnership
Noncontrolling interest
Units outstanding, balance at beginning of period (in units)	3,633,881	3,525,977	2,431,849
Granted/Issued (in units)	814,066	176,396	1,187,352
Forfeitures (in units)	0	0	0
Conversions from LTIP units to Other Common Units (in units)	0	0	0
Redemptions from Other Common Units to common stock (in units)	(351,260)	(68,492)	(90,824)
Redemption of Other Common Units for cash (in units)			(2,400)
Units outstanding, balance at end of period (in units)	4,096,687	3,633,881	3,525,977
LTIP Units | Noncontrolling Interest - Unit holders in Operating Partnership
Noncontrolling interest
Units outstanding, balance at beginning of period (in units)	1,576,516	1,610,105	1,307,036
Granted/Issued (in units)	126,239	176,396	323,069
Forfeitures (in units)	0	0	0
Conversions from LTIP units to Other Common Units (in units)	(245,685)	(209,985)	(20,000)
Redemptions from Other Common Units to common stock (in units)	0	0	0
Redemption of Other Common Units for cash (in units)			0
Units outstanding, balance at end of period (in units)	1,457,070	1,576,516	1,610,105
Other Common Units | Noncontrolling Interest - Unit holders in Operating Partnership
Noncontrolling interest
Units outstanding, balance at beginning of period (in units)	2,057,365	1,915,872	1,124,813
Granted/Issued (in units)	687,827	0	864,283
Forfeitures (in units)	0	0	0
Conversions from LTIP units to Other Common Units (in units)	245,685	209,985	20,000
Redemptions from Other Common Units to common stock (in units)	(351,260)	(68,492)	(90,824)
Redemption of Other Common Units for cash (in units)			(2,400)
Units outstanding, balance at end of period (in units)	2,639,617	2,057,365	1,915,872

Noncontrolling Interest - LTIP

Noncontrolling Interest - LTIP Units Narrative (Details) $ in Thousands	Jan. 06, 2017shares	Feb. 22, 2016shares	Jan. 08, 2016shares	May 04, 2015shares	Jan. 12, 2015shares	Mar. 31, 2017	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014shares
General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation | $							$ 9,547	$ 9,729	$ 7,578
Former Chief Financial Officer [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salary, bonus and other benefits | $								1,500
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%
LTIP Units | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation | $							4,675	6,089	4,774
LTIP Units | Benjamin S. Butcher
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				100,000
Performance Shares [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation | $							$ 2,147	$ 1,137	$ 523
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							0	0	0
Granted (in shares)							126,239	176,396	323,069
Vested (in shares)							(229,355)	(307,883)	(237,046)
Unvested shares outstanding (in shares)							300,307	403,423	534,910	448,887
Unrecognized compensation costs | $							$ 4,800
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition							2 years 6 months 29 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 | Former Chief Financial Officer [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation | $								$ 1,600
2011 Equity Incentive Plan | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs | $							$ 3,100
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition							2 years 1 month
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)			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
Granted on January 12, 2015 [Member] | 2011 Equity Incentive Plan | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)					223,069
Granted on January 12, 2015 [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)							3 years
Granted on January 6, 2017 [Member] | 2011 Equity Incentive Plan | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	126,239
Granted on January 6, 2017 [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)		18,386
Grant Date February 22, 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
Awarded in 2015 [Member] | 2011 Equity Incentive Plan | LTIP Units | Former Chief Financial Officer [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation | $								$ 1,600

Noncontrolling Interest Noncont

Noncontrolling Interest Noncontrolling Interest - FV Assumptions (Details) - LTIP Units - 2011 Equity Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	Jan. 06, 2017	Feb. 22, 2016	Jan. 08, 2016	Jan. 06, 2016	May 04, 2015	Jan. 12, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assumptions
Units at issuance (in shares)							126,239	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
Granted on January 12, 2015 [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)						0.62%
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
Granted on January 6, 2017 [Member]
Assumptions
Expected term	10 years
Expected volatility (as a percent)	23.00%
Expected dividend yield (as a percent)	6.00%
Risk-free interest rate (as a percent)	1.61%
Fair value of units at issuance	$ 2,924
Units at issuance (in shares)	126,239
Fair value share price per unit (in dollars per share)	$ 23.16
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	May 31, 2017USD ($)shares	Dec. 11, 2015USD ($)shares	Jan. 22, 2015USD ($)shares	Mar. 31, 2017	Dec. 31, 2017shares	Dec. 31, 2016
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
San Diego, CA, Q2 2017 [Member]
Noncontrolling Interest [Line Items]
Other common units issued for property acquisition (in units)	687,827
Other common units issued for property acquisition, fair value | $	$ 18.6
Average common stock closing price, trailing period	5 days
San Diego, CA, Q2 2017 [Member] | Other Common Units
Noncontrolling Interest [Line Items]
Other common units issued for property acquisition (in units)	687,827
Other common units issued for property acquisition, fair value | $	$ 18.6
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
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 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	Jan. 06, 2017USD ($)benchmark	Mar. 08, 2016USD ($)	Jan. 12, 2015USD ($)simulation$ / shares	Apr. 01, 2011shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)	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					983,735	1,156,578
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					$ 6,101	$ 6,393	$ 4,853
Assumptions
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options					$ 4,800
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years 6 months 29 days
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					$ 3,100
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years 1 month
2011 Equity Incentive Plan | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested					$ 2,591	$ 1,813	$ 1,751
Assumptions
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options					$ 2,700
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years 4 months 29 days
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 2017 [Member] | 2011 Equity Incentive Plan | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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	$ 2,882
Awarded in 2017 [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 2017 [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 2017 [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)	1.61%
Expected dividend yield (as a percent)	6.00%
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
Assumptions
Value of awards		$ 2,614
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)		1.08%
Expected dividend yield (as a percent)		6.00%
Vest on 4th anniversary | Awarded in 2017 [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
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 ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Equity Incentive Plan
Net income (loss) from continuing operations	$ 32,200	$ 35,588	$ (29,345)
Less: preferred stock dividends	9,794	13,897	10,848
Less: amount allocated to participating securities	334	384	385
Less: loss attributable to noncontrolling interest after preferred stock dividends	941	1,069	(1,962)
Net Income (Loss) Available to Common Stockholders, Basic	$ 21,131	$ 20,238	$ (38,616)
Weighted average common shares outstanding — basic	89,537,714	70,637,185	66,307,972
Weighted average common shares outstanding — diluted	90,003,559	70,852,548	66,307,972
Net income (loss) per share attributable to common stockholders — basic	$ 0.24	$ 0.29	$ (0.58)
Net income (loss) per share attributable to common stockholders — diluted	$ 0.23	$ 0.29	$ (0.58)
General and Administrative Expenses
Equity Incentive Plan
Share-based compensation	$ 9,547	$ 9,729	$ 7,578
General and Administrative Expenses | Restricted stock
Equity Incentive Plan
Share-based compensation	2,373	2,157	1,932
General and Administrative Expenses | LTIP Units
Equity Incentive Plan
Share-based compensation	4,675	6,089	4,774
General and Administrative Expenses | Performance Shares [Member]
Equity Incentive Plan
Share-based compensation	2,147	1,137	523
Independent Director | General and Administrative Expenses
Equity Incentive Plan
Share-based compensation	$ 352	$ 346	$ 349
2011 Equity Incentive Plan
Equity Incentive Plan
Number of shares of common stock that are available for issuance	983,735	1,156,578
2011 Equity Incentive Plan | Former Chief Financial Officer [Member] | General and Administrative Expenses | LTIP Units
Equity Incentive Plan
Share-based compensation		$ 1,600
2011 Equity Incentive Plan | Awarded in 2015 [Member] | Former Chief Financial Officer [Member] | General and Administrative Expenses | LTIP Units
Equity Incentive Plan
Share-based compensation		$ 1,600
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	10 days	10 days

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted stock
Antidilutive participating securities
Incremental Common Shares Attributable to Participating Nonvested Shares with Non-forfeitable Dividend Rights	237,896	276,367	280,839

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Numerator and Denominator (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Numerator
Net income (loss) from continuing operations	$ 32,200	$ 35,588	$ (29,345)
Less: preferred stock dividends	9,794	13,897	10,848
Less: amount allocated to participating securities	334	384	385
Less: loss attributable to noncontrolling interest after preferred stock dividends	941	1,069	(1,962)
Net income (loss) attributable to common stockholders	$ 21,131	$ 20,238	$ (38,616)
Denominator
Weighted average common shares outstanding — basic	89,537,714	70,637,185	66,307,972
Weighted average common shares outstanding — diluted	90,003,559	70,852,548	66,307,972
Net income (loss) per share — basic and diluted
Net income (loss) per share attributable to common stockholders — basic	$ 0.24	$ 0.29	$ (0.58)
Net income (loss) per share attributable to common stockholders — diluted	$ 0.23	$ 0.29	$ (0.58)
Restricted stock
Net income (loss) per share — basic and diluted
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	237,896	276,367	280,839
Share-based Compensation
Denominator
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	465,845	215,363	0

Future Minimum Rents (Details)

Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2017USD ($)
Leases, Operating [Abstract]
2,018	$ 263,703
2,019	235,967
2,020	203,058
2,021	158,243
2,022	126,990
Thereafter	$ 442,259

Commitments and Contingencies -

Commitments and Contingencies - Agreements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition, Contingent Consideration [Line Items]
Other expenses	$ 1,786,000	$ 1,149,000	$ 1,048,000
Letters of Credit Outstanding, Amount	5,900,000
Minimum | Property Acquisition under Agreement with Columbus Nova [Member] | Level 3 Inputs | Market And Income Approach Valuation Technique [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] | Level 3 Inputs | Market And Income Approach Valuation Technique [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%
Other Expense [Member] | Property Acquisition under Agreement with Columbus Nova [Member]
Business Acquisition, Contingent Consideration [Line Items]
Other expenses	$ 700,000
Accounts Payable and Accrued Liabilities [Member] | Property Acquisition under Agreement with Columbus Nova [Member]
Business Acquisition, Contingent Consideration [Line Items]
Other Liabilities		$ 0

Commitments and Contingencies74

Commitments and Contingencies - Future Minimum Rental Payments (Details) $ in Thousands	Dec. 31, 2017USD ($)
Future minimum rental payments
2,018	$ 1,962
2,019	2,000
2,020	2,015
2,021	1,120
2,022	817
Thereafter	$ 31,488

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
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	$ 0.3	$ 0.4	$ 0.2
Vesting period	3 years

Related Party Transactions (Det

Related Party Transactions (Details) - Affiliated Entity [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related party transactions
Due from related parties	$ 0	$ 0
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%
Other Income [Member]
Related party transactions
Asset management fees recognized	$ 0.1	$ 0.2	$ 0.4

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events - Restricted Stock (Details) - 2011 Equity Incentive Plan - Restricted stock - $ / shares	Jan. 05, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Granted (in shares)		75,001	101,289	94,290
Grant date fair value (in dollars per share)		$ 24.41	$ 17.98	$ 26.17
Non-recognized Subsequent Event
Subsequent Event [Line Items]
Grant date fair value (in dollars per share)	$ 26.40
Specified Employees [Member] | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Granted (in shares)	76,659
Vesting period (in years)	4 years

Subsequent Events Subsequent 78

Subsequent Events Subsequent Events - LTIP (Details) - 2011 Equity Incentive Plan - LTIP Units - USD ($) $ in Millions	Jan. 05, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Granted (in shares)		126,239	176,396	323,069
Nonemployee Director [Member] | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Granted (in shares)	21,552
Executive Officers And Senior Employees [Member] | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Granted (in shares)	116,064
Vesting period (in years)	4 years
Awarded in 2018 [Member] | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value	$ 3.4
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	10 years
Weighted Average [Member] | Awarded in 2018 [Member] | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	22.00%
Expected dividend yield (as a percent)	6.00%
Risk-free interest rate (as a percent)	2.09%

Subsequent Events Subsequent 79

Subsequent Events Subsequent Events - Performance Units (Details) - 2011 Equity Incentive Plan - Awarded in 2018 [Member] - Performance Shares [Member] - Non-recognized Subsequent Event $ in Millions	Jan. 05, 2018USD ($)
Subsequent Event [Line Items]
Value of awards	$ 5.5
Weighted Average [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	22.00%
Expected dividend yield (as a percent)	6.00%
Risk-free interest rate (as a percent)	2.09%

Subsequent Events Subsequent 80

Subsequent Events Subsequent Events - OPP Payout (Details) - 2015 Outperformance Program - USD ($) $ in Millions	Jan. 01, 2018	Jan. 12, 2015
Subsequent Event [Line Items]
Measurement period for outperformance pool plan threshold		3 years
Non-recognized Subsequent Event
Subsequent Event [Line Items]
Measurement period for outperformance pool plan threshold	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 6.2
LTIP Units | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross	183,256
Common Stock | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross	53,722
Stock Repurchased and Retired During Period, Shares	15,183

Schedule 2 - Valuation and Qu81

Schedule 2 - Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Receivables and Accrued Rent Reserves - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Valuation and Qualifying Accounts
Beginning of Period	$ 188	$ 106	$ 104
Costs and Expenses	123	125	190
Amounts Written Off	0	(43)	(188)
Balance at End of Period	$ 311	$ 188	$ 106

Schedule 3 - Real Estate and 82

Schedule 3 - Real Estate and Accumulated Depreciation - Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate and Accumulated Depreciation
Encumbrances	$ (58,855)
Building and Tenant Improvements (initial cost)	2,099,229
Land	325,773
Costs Capitalized Subsequent to Acquisition and Valuation Provision	99,110
Building & Improvements	2,198,339
Land	325,773
Total	2,524,112	$ 2,009,716	$ 1,711,612	$ 1,415,965
Accumulated Depreciation	(251,943)	(187,413)	$ (147,917)	$ (105,435)
Unamortized balance of historical fair value adjustments	61
Debt Issuance Costs, Net	6,135
Secured Debt
Real Estate and Accumulated Depreciation
Unamortized balance of historical fair value adjustments	61	112
Debt Issuance Costs, Net	634	$ 873
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	(27)
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	(271)
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	(322)
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	(282)
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	(407)
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	(445)
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	(440)
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	(207)
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	(1,077)
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	(1,196)
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	(664)
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	913
Building & Improvements	7,064
Land	1,246
Total	8,310
Accumulated Depreciation	(1,042)
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	483
Building & Improvements	3,233
Land	336
Total	3,569
Accumulated Depreciation	(460)
Avondale, AZ, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	13,163
Land	1,674
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	13,163
Land	1,674
Total	14,837
Accumulated Depreciation	(37)
Batavia, IL, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,273
Land	618
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,273
Land	618
Total	4,891
Accumulated Depreciation	(110)
Bedford Heights, OH, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,279
Land	837
Costs Capitalized Subsequent to Acquisition and Valuation Provision	520
Building & Improvements	5,799
Land	837
Total	6,636
Accumulated Depreciation	(190)
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	(1,958)
Belvidere, IL, Q3 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,083
Land	442
Costs Capitalized Subsequent to Acquisition and Valuation Provision	255
Building & Improvements	4,338
Land	442
Total	4,780
Accumulated Depreciation	(347)
Belvidere, IL, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	16,914
Land	2,341
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	16,914
Land	2,341
Total	19,255
Accumulated Depreciation	(397)
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	36
Building & Improvements	3,992
Land	733
Total	4,725
Accumulated Depreciation	(528)
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	(595)
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	(433)
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	(868)
Belvidere, IL, Q2 2013, Five
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,299
Land	668
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,299
Land	668
Total	4,967
Accumulated Depreciation	(577)
Belvidere, IL, Q2 2013, Six
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,711
Land	866
Costs Capitalized Subsequent to Acquisition and Valuation Provision	159
Building & Improvements	3,870
Land	866
Total	4,736
Accumulated Depreciation	(566)
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	(446)
Belvidere, IL, Q2 2013, Eight
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,303
Land	1,542
Costs Capitalized Subsequent to Acquisition and Valuation Provision	591
Building & Improvements	8,894
Land	1,542
Total	10,436
Accumulated Depreciation	(1,270)
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)
Belleville, MI, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,524
Land	724
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,524
Land	724
Total	7,248
Accumulated Depreciation	(96)
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	(827)
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	834
Building & Improvements	4,307
Land	282
Total	4,589
Accumulated Depreciation	(1,172)
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	(427)
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	(567)
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	(455)
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	79
Building & Improvements	42,731
Land	5,135
Total	47,866
Accumulated Depreciation	(3,810)
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	1,238
Building & Improvements	20,815
Land	4,030
Total	24,845
Accumulated Depreciation	(1,957)
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	(297)
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	(1,394)
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	(2,324)
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	(886)
Charlotte, NC, Q3 2010, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,768
Land	3,535
Costs Capitalized Subsequent to Acquisition and Valuation Provision	3,306
Building & Improvements	12,074
Land	3,535
Total	15,609
Accumulated Depreciation	(2,630)
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	(345)
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	287
Building & Improvements	3,841
Land	386
Total	4,227
Accumulated Depreciation	(452)
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	(283)
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	(257)
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	(265)
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	(540)
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	(1,100)
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	808
Building & Improvements	3,565
Land	216
Total	3,781
Accumulated Depreciation	(713)
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	(420)
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	128
Building & Improvements	926
Land	150
Total	1,076
Accumulated Depreciation	(232)
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	(301)
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	2,150
Building & Improvements	7,454
Land	942
Total	8,396
Accumulated Depreciation	(2,054)
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	(613)
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	77
Building & Improvements	5,944
Land	504
Total	6,448
Accumulated Depreciation	(1,020)
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	(416)
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	(96)
Cincinnati, OH, Q3 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,395
Land	119
Costs Capitalized Subsequent to Acquisition and Valuation Provision	895
Building & Improvements	3,290
Land	119
Total	3,409
Accumulated Depreciation	(1,866)
Cleveland, TN, Q2 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(638)
Clinton, PA, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	19,339
Land	0
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	19,339
Land	0
Total	19,339
Accumulated Depreciation	(382)
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	78
Building & Improvements	3,380
Land	403
Total	3,783
Accumulated Depreciation	(493)
Columbus, OH, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,222
Land	337
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,222
Land	337
Total	5,559
Accumulated Depreciation	(76)
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	(594)
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	(367)
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	868
Building & Improvements	7,856
Land	715
Total	8,571
Accumulated Depreciation	(1,006)
Council Bluffs, IA, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,438
Land	414
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,438
Land	414
Total	4,852
Accumulated Depreciation	(38)
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	(311)
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	(711)
Danville, KY, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	11,772
Land	965
Costs Capitalized Subsequent to Acquisition and Valuation Provision	3,699
Building & Improvements	15,471
Land	965
Total	16,436
Accumulated Depreciation	(2,722)
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	1,711
Building & Improvements	2,586
Land	1,237
Total	3,823
Accumulated Depreciation	(760)
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	391
Building & Improvements	6,287
Land	331
Total	6,618
Accumulated Depreciation	(598)
Dayton, OH, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	23,725
Land	2,465
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	23,725
Land	2,465
Total	26,190
Accumulated Depreciation	(707)
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	151
Building & Improvements	5,553
Land	1,131
Total	6,684
Accumulated Depreciation	(262)
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	(669)
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	(1,056)
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	745
Building & Improvements	12,003
Land	1,002
Total	13,005
Accumulated Depreciation	(2,070)
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	81
Building & Improvements	6,820
Land	709
Total	7,529
Accumulated Depreciation	(1,028)
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	(291)
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	60
Building & Improvements	2,866
Land	1,123
Total	3,989
Accumulated Depreciation	(176)
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	(325)
Edwardsville, KS, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	13,224
Land	1,360
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	13,224
Land	1,360
Total	14,584
Accumulated Depreciation	(300)
Elizabethtown, PA, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,357
Land	1,000
Costs Capitalized Subsequent to Acquisition and Valuation Provision	152
Building & Improvements	5,509
Land	1,000
Total	6,509
Accumulated Depreciation	(605)
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	(71)
Elkhart, IN, Q3 2007, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,519
Land	422
Costs Capitalized Subsequent to Acquisition and Valuation Provision	571
Building & Improvements	4,090
Land	422
Total	4,512
Accumulated Depreciation	(1,005)
El Paso 1, TX, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,674
Land	0
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,674
Land	0
Total	3,674
Accumulated Depreciation	(17)
El Paso 2, TX, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,398
Land	0
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	10,398
Land	0
Total	10,398
Accumulated Depreciation	(49)
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	26
Building & Improvements	9,125
Land	1,248
Total	10,373
Accumulated Depreciation	(1,048)
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	(1,096)
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	812
Building & Improvements	14,971
Land	1,854
Total	16,825
Accumulated Depreciation	(1,685)
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	99
Building & Improvements	9,996
Land	1,581
Total	11,577
Accumulated Depreciation	(1,102)
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	(554)
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	1,088
Building & Improvements	4,184
Land	0
Total	4,184
Accumulated Depreciation	(721)
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	(291)
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	(530)
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	72
Building & Improvements	5,783
Land	400
Total	6,183
Accumulated Depreciation	(284)
East Windsor, CT, Q1 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,713
Land	348
Costs Capitalized Subsequent to Acquisition and Valuation Provision	614
Building & Improvements	5,327
Land	348
Total	5,675
Accumulated Depreciation	(1,264)
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	(779)
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	17
Building & Improvements	2,859
Land	948
Total	3,807
Accumulated Depreciation	(298)
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	(1,447)
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	744
Building & Improvements	10,271
Land	1,733
Total	12,004
Accumulated Depreciation	(590)
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	127
Building & Improvements	8,316
Land	1,715
Total	10,031
Accumulated Depreciation	(431)
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	(359)
Fort Worth, TX, Q2 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,965
Land	389
Costs Capitalized Subsequent to Acquisition and Valuation Provision	752
Building & Improvements	3,717
Land	389
Total	4,106
Accumulated Depreciation	(700)
Gaffney, SC, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,712
Land	1,233
Costs Capitalized Subsequent to Acquisition and Valuation Provision	85
Building & Improvements	4,797
Land	1,233
Total	6,030
Accumulated Depreciation	(173)
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	(1,290)
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	(565)
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	(889)
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	586
Building & Improvements	6,644
Land	1,542
Total	8,186
Accumulated Depreciation	(577)
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	(964)
Gloversville, NY, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(714)
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	(208)
Gloversville, NY, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,154)
Building and Tenant Improvements (initial cost)	2,603
Land	151
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,603
Land	151
Total	2,754
Accumulated Depreciation	(420)
Gloversville, NY, Q4 2012, Four
Real Estate and Accumulated Depreciation
Encumbrances	(824)
Building and Tenant Improvements (initial cost)	1,486
Land	154
Costs Capitalized Subsequent to Acquisition and Valuation Provision	36
Building & Improvements	1,522
Land	154
Total	1,676
Accumulated Depreciation	(238)
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	261
Building & Improvements	6,425
Land	742
Total	7,167
Accumulated Depreciation	(844)
Goshen, IN, Q3 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,509
Land	1,442
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,768
Building & Improvements	8,277
Land	1,442
Total	9,719
Accumulated Depreciation	(1,446)
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	(334)
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	34
Building & Improvements	7,566
Land	169
Total	7,735
Accumulated Depreciation	(739)
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	(685)
Greenwood, SC, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(1,484)
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	(285)
Greenwood, SC, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,264)
Building and Tenant Improvements (initial cost)	1,232
Land	169
Costs Capitalized Subsequent to Acquisition and Valuation Provision	290
Building & Improvements	1,522
Land	169
Total	1,691
Accumulated Depreciation	(241)
Fountain Inn, SC, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	13,511
Land	1,878
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	13,511
Land	1,878
Total	15,389
Accumulated Depreciation	(85)
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	35
Building & Improvements	3,414
Land	309
Total	3,723
Accumulated Depreciation	(342)
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	303
Building & Improvements	1,737
Land	129
Total	1,866
Accumulated Depreciation	(148)
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	64
Building & Improvements	1,812
Land	128
Total	1,940
Accumulated Depreciation	(162)
Greer, SC Q3 2015, Three
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	460
Land	153
Costs Capitalized Subsequent to Acquisition and Valuation Provision	25
Building & Improvements	485
Land	153
Total	638
Accumulated Depreciation	(43)
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	(305)
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	95
Building & Improvements	4,533
Land	719
Total	5,252
Accumulated Depreciation	(458)
Groveport, OH, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,920
Land	642
Costs Capitalized Subsequent to Acquisition and Valuation Provision	84
Building & Improvements	11,004
Land	642
Total	11,646
Accumulated Depreciation	(149)
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	(300)
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	211
Building & Improvements	11,591
Land	1,716
Total	13,307
Accumulated Depreciation	(1,241)
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	954
Building & Improvements	5,856
Land	1,337
Total	7,193
Accumulated Depreciation	(1,109)
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	(4,607)
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	(1,603)
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	(249)
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	(778)
Hazelwood, MO, Q3 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,815
Land	1,382
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,391
Building & Improvements	7,206
Land	1,382
Total	8,588
Accumulated Depreciation	(1,594)
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	(607)
Hilliard, OH, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,412
Land	550
Costs Capitalized Subsequent to Acquisition and Valuation Provision	8
Building & Improvements	7,420
Land	550
Total	7,970
Accumulated Depreciation	(52)
Holland, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(3,067)
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	(715)
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	(1,123)
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	(817)
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	780
Building & Improvements	5,799
Land	565
Total	6,364
Accumulated Depreciation	(1,009)
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	158
Building & Improvements	8,606
Land	2,546
Total	11,152
Accumulated Depreciation	(374)
Houston, TX, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,037
Land	1,502
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,037
Land	1,502
Total	6,539
Accumulated Depreciation	(219)
Houston 2, TX, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,564
Land	953
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,564
Land	953
Total	6,517
Accumulated Depreciation	(197)
Houston 3, TX, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,052
Land	927
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	7,052
Land	927
Total	7,979
Accumulated Depreciation	(152)
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	109
Building & Improvements	3,232
Land	1,061
Total	4,293
Accumulated Depreciation	(483)
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	(450)
Independence, VA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(1,379)
Building and Tenant Improvements (initial cost)	2,212
Land	226
Costs Capitalized Subsequent to Acquisition and Valuation Provision	110
Building & Improvements	2,322
Land	226
Total	2,548
Accumulated Depreciation	(524)
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	5
Building & Improvements	12,221
Land	2,428
Total	14,649
Accumulated Depreciation	(668)
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	337
Building & Improvements	2,711
Land	230
Total	2,941
Accumulated Depreciation	(473)
Jacksonville, FL, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,438
Land	451
Costs Capitalized Subsequent to Acquisition and Valuation Provision	410
Building & Improvements	3,848
Land	451
Total	4,299
Accumulated Depreciation	(164)
Jacksonville 2, FL, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,867
Land	650
Costs Capitalized Subsequent to Acquisition and Valuation Provision	161
Building & Improvements	8,028
Land	650
Total	8,678
Accumulated Depreciation	(328)
Jacksonville 3, FL, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,195
Land	674
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,557
Building & Improvements	9,752
Land	674
Total	10,426
Accumulated Depreciation	(399)
Jacksonville 4, FL, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,266
Land	596
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,016
Building & Improvements	8,282
Land	596
Total	8,878
Accumulated Depreciation	(327)
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	530
Building & Improvements	18,007
Land	828
Total	18,835
Accumulated Depreciation	(2,758)
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	(1,893)
Johnstown, NY, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(714)
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	(227)
Johnstown, NY, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,044)
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	(228)
Johnstown, NY, Q4 2012, Three
Real Estate and Accumulated Depreciation
Encumbrances	(852)
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	(206)
Johnstown, NY, Q4 2012, Four
Real Estate and Accumulated Depreciation
Encumbrances	(1,594)
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	(257)
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	(730)
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	(253)
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	1
Building & Improvements	6,373
Land	1,884
Total	8,257
Accumulated Depreciation	(305)
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	(377)
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	(421)
Lafayette, IN, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(1,182)
Building and Tenant Improvements (initial cost)	2,205
Land	295
Costs Capitalized Subsequent to Acquisition and Valuation Provision	79
Building & Improvements	2,284
Land	295
Total	2,579
Accumulated Depreciation	(328)
Lafayette, IN, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(2,006)
Building and Tenant Improvements (initial cost)	3,405
Land	410
Costs Capitalized Subsequent to Acquisition and Valuation Provision	123
Building & Improvements	3,528
Land	410
Total	3,938
Accumulated Depreciation	(487)
Lafayette, IN, Q4 2012, Three
Real Estate and Accumulated Depreciation
Encumbrances	(4,122)
Building and Tenant Improvements (initial cost)	8,135
Land	906
Costs Capitalized Subsequent to Acquisition and Valuation Provision	261
Building & Improvements	8,396
Land	906
Total	9,302
Accumulated Depreciation	(1,428)
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	(1,014)
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	36
Building & Improvements	3,904
Land	1,370
Total	5,274
Accumulated Depreciation	(294)
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	33
Building & Improvements	3,138
Land	1,308
Total	4,446
Accumulated Depreciation	(287)
Lansing, MI, Q2 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(1,592)
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	(681)
Lansing, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(5,496)
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	(1,149)
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	(809)
Laredo, TX, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,195
Land	1,535
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	10,195
Land	1,535
Total	11,730
Accumulated Depreciation	(238)
Las Vegas, NV, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,259
Land	770
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,259
Land	770
Total	4,029
Accumulated Depreciation	(40)
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	(349)
Lebanon, PA, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,235
Land	1,380
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,235
Land	1,380
Total	6,615
Accumulated Depreciation	(509)
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	(1,340)
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	1,525
Building & Improvements	7,040
Land	173
Total	7,213
Accumulated Depreciation	(2,067)
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	688
Building & Improvements	4,656
Land	232
Total	4,888
Accumulated Depreciation	(851)
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	(649)
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	(264)
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	(967)
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	581
Building & Improvements	10,228
Land	1,529
Total	11,757
Accumulated Depreciation	(1,243)
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	(348)
Louisville, KY, Q3 2011, One
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(982)
Louisville, KY, Q3 2011, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(1,512)
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	44
Building & Improvements	8,239
Land	1,690
Total	9,929
Accumulated Depreciation	(813)
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	(426)
Madison, WI, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,365
Land	609
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,365
Land	609
Total	6,974
Accumulated Depreciation	(21)
Madison 2, WI, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,518
Land	444
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,518
Land	444
Total	4,962
Accumulated Depreciation	(14)
Madison, TN, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,758
Land	1,655
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,786
Building & Improvements	7,544
Land	1,655
Total	9,199
Accumulated Depreciation	(1,319)
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	(764)
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	(1,073)
Maple Grove, MN, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,634
Land	969
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,634
Land	969
Total	7,603
Accumulated Depreciation	(161)
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	(428)
Marion, IN, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(2,803)
Building and Tenant Improvements (initial cost)	2,934
Land	243
Costs Capitalized Subsequent to Acquisition and Valuation Provision	718
Building & Improvements	3,652
Land	243
Total	3,895
Accumulated Depreciation	(521)
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	(207)
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	(373)
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	(664)
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	(1,986)
Mason, OH, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,731
Land	673
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,731
Land	673
Total	5,404
Accumulated Depreciation	(680)
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	(1,275)
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	(750)
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	(675)
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	9
Building & Improvements	5,008
Land	358
Total	5,366
Accumulated Depreciation	(717)
Mechanicsburg, PA, Q3 2014, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,143
Land	1,482
Costs Capitalized Subsequent to Acquisition and Valuation Provision	770
Building & Improvements	5,913
Land	1,482
Total	7,395
Accumulated Depreciation	(933)
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	(935)
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	(1,121)
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	(1,027)
Milford, CT, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,040
Land	1,264
Costs Capitalized Subsequent to Acquisition and Valuation Provision	300
Building & Improvements	10,340
Land	1,264
Total	11,604
Accumulated Depreciation	(378)
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	1,329
Building & Improvements	8,852
Land	418
Total	9,270
Accumulated Depreciation	(326)
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	1,934
Building & Improvements	14,419
Land	2,190
Total	16,609
Accumulated Depreciation	(2,047)
Mooresville, NC, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	18,010
Land	4,195
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	18,010
Land	4,195
Total	22,205
Accumulated Depreciation	(196)
Mooresville, NC, Q1 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(1,541)
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	(325)
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	9
Building & Improvements	2,872
Land	722
Total	3,594
Accumulated Depreciation	(487)
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	(1,266)
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	(503)
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	(539)
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	205
Building & Improvements	2,096
Land	232
Total	2,328
Accumulated Depreciation	(671)
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	(1,093)
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	(1,151)
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	(448)
Lopatcong, NJ, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,822
Land	1,554
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,599
Building & Improvements	11,421
Land	1,554
Total	12,975
Accumulated Depreciation	(736)
Newton, NC, Q2 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,568
Land	732
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,283
Building & Improvements	8,851
Land	732
Total	9,583
Accumulated Depreciation	(718)
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	1,387
Building & Improvements	41,298
Land	4,086
Total	45,384
Accumulated Depreciation	(4,893)
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	(617)
North Jackson, OH, Q4 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,681
Land	486
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	7,681
Land	486
Total	8,167
Accumulated Depreciation	(835)
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	(331)
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	(1,412)
Novi, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(2,693)
Building and Tenant Improvements (initial cost)	3,879
Land	252
Costs Capitalized Subsequent to Acquisition and Valuation Provision	13
Building & Improvements	3,892
Land	252
Total	4,144
Accumulated Depreciation	(761)
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	(516)
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	(399)
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	(1,810)
O'Fallon, MO, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,632
Land	1,233
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,632
Land	1,233
Total	4,865
Accumulated Depreciation	(69)
O'fallen, MO, Q3 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(587)
O'hara, PA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(15,443)
Building and Tenant Improvements (initial cost)	18,875
Land	1,435
Costs Capitalized Subsequent to Acquisition and Valuation Provision	7,468
Building & Improvements	26,343
Land	1,435
Total	27,778
Accumulated Depreciation	(3,936)
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	5
Building & Improvements	2,216
Land	746
Total	2,962
Accumulated Depreciation	(159)
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	1,373
Building & Improvements	10,572
Land	1,614
Total	12,186
Accumulated Depreciation	(827)
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	156
Building & Improvements	20,919
Land	2,431
Total	23,350
Accumulated Depreciation	(987)
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	(768)
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	(356)
Pedricktown, NJ, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,696
Land	2,414
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	10,696
Land	2,414
Total	13,110
Accumulated Depreciation	(263)
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	343
Building & Improvements	3,332
Land	145
Total	3,477
Accumulated Depreciation	(1,293)
Phenix City, AL, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(1,539)
Building and Tenant Improvements (initial cost)	1,493
Land	276
Costs Capitalized Subsequent to Acquisition and Valuation Provision	252
Building & Improvements	1,745
Land	276
Total	2,021
Accumulated Depreciation	(306)
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	(554)
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	86
Building & Improvements	4,238
Land	231
Total	4,469
Accumulated Depreciation	(372)
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	(196)
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	(333)
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	(277)
Pittston, PA, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	19,959
Land	677
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	19,959
Land	677
Total	20,636
Accumulated Depreciation	(283)
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	(533)
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	363
Building & Improvements	3,835
Land	399
Total	4,234
Accumulated Depreciation	(1,147)
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	(758)
Portland, ME, Q1 2012, 1 [Member]
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	(1,678)
Portland, ME, Q1 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,727
Land	891
Costs Capitalized Subsequent to Acquisition and Valuation Provision	10
Building & Improvements	3,737
Land	891
Total	4,628
Accumulated Depreciation	(611)
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	1,020
Building & Improvements	11,682
Land	2,071
Total	13,753
Accumulated Depreciation	(3,858)
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	(442)
Muhlenberg TWP, PA, Q2 2012
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	13,866
Land	843
Costs Capitalized Subsequent to Acquisition and Valuation Provision	232
Building & Improvements	14,098
Land	843
Total	14,941
Accumulated Depreciation	(2,181)
Redford, MI, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,114
Land	728
Costs Capitalized Subsequent to Acquisition and Valuation Provision	368
Building & Improvements	6,482
Land	728
Total	7,210
Accumulated Depreciation	(359)
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	(511)
Rock Hill, SC, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	(3,906)
Building and Tenant Improvements (initial cost)	6,297
Land	1,411
Costs Capitalized Subsequent to Acquisition and Valuation Provision	351
Building & Improvements	6,648
Land	1,411
Total	8,059
Accumulated Depreciation	(456)
Rock HIll, SC, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,512
Land	1,095
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,512
Land	1,095
Total	5,607
Accumulated Depreciation	(151)
Rockwall, TX, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	16,066
Land	2,683
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	16,066
Land	2,683
Total	18,749
Accumulated Depreciation	(363)
Rogers, MN, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(3,198)
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	287
Building & Improvements	8,567
Land	1,072
Total	9,639
Accumulated Depreciation	(1,665)
Romulus, MI, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	15,043
Land	1,080
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	15,043
Land	1,080
Total	16,123
Accumulated Depreciation	(372)
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	366
Building & Improvements	6,030
Land	439
Total	6,469
Accumulated Depreciation	(1,250)
Salem, OR, Q4 2010, One
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(716)
Salem, OR, Q4 2010, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(404)
Salisbury, NC, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,284
Land	1,535
Costs Capitalized Subsequent to Acquisition and Valuation Provision	28
Building & Improvements	5,312
Land	1,535
Total	6,847
Accumulated Depreciation	(288)
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	35
Building & Improvements	10,430
Land	1,568
Total	11,998
Accumulated Depreciation	(428)
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	105
Building & Improvements	5,510
Land	877
Total	6,387
Accumulated Depreciation	(787)
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	546
Building & Improvements	4,542
Land	3,194
Total	7,736
Accumulated Depreciation	(943)
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	(1,626)
San Diego, CA, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	15,016
Land	2,290
Costs Capitalized Subsequent to Acquisition and Valuation Provision	22
Building & Improvements	15,038
Land	2,290
Total	17,328
Accumulated Depreciation	(389)
South Easton, MA, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,880
Land	403
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,880
Land	403
Total	6,283
Accumulated Depreciation	(17)
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	450
Building & Improvements	6,638
Land	247
Total	6,885
Accumulated Depreciation	(3,800)
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	(1,074)
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	(1,513)
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	(765)
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	145
Building & Improvements	6,410
Land	1,804
Total	8,214
Accumulated Depreciation	(834)
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	848
Building & Improvements	3,808
Land	957
Total	4,765
Accumulated Depreciation	(549)
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	938
Building & Improvements	4,356
Land	470
Total	4,826
Accumulated Depreciation	(576)
Smithfield, NC, Q4 2011
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,657
Land	613
Costs Capitalized Subsequent to Acquisition and Valuation Provision	12
Building & Improvements	10,669
Land	613
Total	11,282
Accumulated Depreciation	(857)
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	(603)
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	(804)
Franklin Township, NJ, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,322
Land	2,272
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,322
Land	2,272
Total	10,594
Accumulated Depreciation	(446)
Sparks, NV, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,328
Land	938
Costs Capitalized Subsequent to Acquisition and Valuation Provision	934
Building & Improvements	7,262
Land	938
Total	8,200
Accumulated Depreciation	(327)
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	166
Building & Improvements	15,266
Land	1,867
Total	17,133
Accumulated Depreciation	(862)
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	(547)
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	432
Building & Improvements	6,229
Land	493
Total	6,722
Accumulated Depreciation	(963)
Stafford, TX, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,570
Land	339
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,570
Land	339
Total	6,909
Accumulated Depreciation	(19)
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	1,151
Building & Improvements	7,281
Land	588
Total	7,869
Accumulated Depreciation	(965)
Sterling Heights, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(1,484)
Building and Tenant Improvements (initial cost)	4,191
Land	513
Costs Capitalized Subsequent to Acquisition and Valuation Provision	415
Building & Improvements	4,606
Land	513
Total	5,119
Accumulated Depreciation	(683)
Stone Mountain, GA, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,738
Land	612
Costs Capitalized Subsequent to Acquisition and Valuation Provision	645
Building & Improvements	3,383
Land	612
Total	3,995
Accumulated Depreciation	(63)
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	(904)
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	(268)
Streetsboro, OH, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(1,473)
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	94
Building & Improvements	5,947
Land	491
Total	6,438
Accumulated Depreciation	(761)
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	(1,454)
Swedesboro, NJ, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,129
Land	1,212
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,129
Land	1,212
Total	6,341
Accumulated Depreciation	(74)
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	(1,215)
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	248
Building & Improvements	248
Land	3,267
Total	3,515
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	(691)
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	(1,793)
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	(1,616)
Vonore, TN, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
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	(1,771)
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	619
Building & Improvements	2,013
Land	0
Total	2,013
Accumulated Depreciation	(299)
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	371
Building & Improvements	2,276
Land	462
Total	2,738
Accumulated Depreciation	(191)
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	24
Building & Improvements	1,884
Land	444
Total	2,328
Accumulated Depreciation	(170)
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	176
Building & Improvements	1,105
Land	252
Total	1,357
Accumulated Depreciation	(97)
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	(97)
Walker, MI, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,872
Land	855
Costs Capitalized Subsequent to Acquisition and Valuation Provision	136
Building & Improvements	5,008
Land	855
Total	5,863
Accumulated Depreciation	(1,097)
Wallingford, CT, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,111
Land	585
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,111
Land	585
Total	6,696
Accumulated Depreciation	(149)
Walton, KY, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,244
Land	2,105
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,244
Land	2,105
Total	8,349
Accumulated Depreciation	(191)
Ware Shoals, SC, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(244)
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	(35)
Warren, MI, Q1 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,111
Land	502
Costs Capitalized Subsequent to Acquisition and Valuation Provision	10
Building & Improvements	6,121
Land	502
Total	6,623
Accumulated Depreciation	(247)
Warren, MI, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	16,035
Land	1,290
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	16,035
Land	1,290
Total	17,325
Accumulated Depreciation	(813)
Waukegan, IL, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,140
Land	1,004
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,140
Land	1,004
Total	6,144
Accumulated Depreciation	(166)
Waukegan 2, IL, Q2 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,547
Land	914
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,547
Land	914
Total	6,461
Accumulated Depreciation	(80)
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	(356)
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	772
Building & Improvements	2,808
Land	768
Total	3,576
Accumulated Depreciation	(119)
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	286
Building & Improvements	960
Land	382
Total	1,342
Accumulated Depreciation	(71)
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	272
Building & Improvements	1,040
Land	450
Total	1,490
Accumulated Depreciation	(71)
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	269
Building & Improvements	1,164
Land	369
Total	1,533
Accumulated Depreciation	(84)
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	276
Building & Improvements	1,180
Land	216
Total	1,396
Accumulated Depreciation	(57)
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	969
Building & Improvements	7,216
Land	915
Total	8,131
Accumulated Depreciation	(546)
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	(380)
West Columbia, SC, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,151
Land	240
Costs Capitalized Subsequent to Acquisition and Valuation Provision	7
Building & Improvements	9,158
Land	240
Total	9,398
Accumulated Depreciation	(47)
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	2,301
Building & Improvements	6,947
Land	551
Total	7,498
Accumulated Depreciation	(286)
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	(271)
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	598
Building & Improvements	9,183
Land	1,046
Total	10,229
Accumulated Depreciation	(1,661)
Wichita, KS, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(1,484)
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	(263)
Wichita, KS, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,621)
Building and Tenant Improvements (initial cost)	1,839
Land	107
Costs Capitalized Subsequent to Acquisition and Valuation Provision	131
Building & Improvements	1,970
Land	107
Total	2,077
Accumulated Depreciation	(323)
Wichita, KS, Q4 2012, Four
Real Estate and Accumulated Depreciation
Encumbrances	(742)
Building and Tenant Improvements (initial cost)	833
Land	76
Costs Capitalized Subsequent to Acquisition and Valuation Provision	181
Building & Improvements	1,014
Land	76
Total	1,090
Accumulated Depreciation	(168)
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	(1,404)
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	(1,387)
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	(205)
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	(645)
York, PA, Q3 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	14,538
Land	2,152
Costs Capitalized Subsequent to Acquisition and Valuation Provision	96
Building & Improvements	14,634
Land	2,152
Total	16,786
Accumulated Depreciation	(195)
Yorkville, WI, Q4 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,893
Land	416
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,893
Land	416
Total	5,309
Accumulated Depreciation	(454)
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	$ (680)

Schedule 3 - Real Estate and 83

Schedule 3 - Real Estate and Accumulated Depreciation - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Building
Real Estate and Accumulated Depreciation
Useful life	40 years	40 years
Building and land improvements | Maximum
Real Estate and Accumulated Depreciation
Useful life	20 years	20 years

Schedule 3 - Real Estate and 84

Schedule 3 - Real Estate and Accumulated Depreciation - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SEC Schedule III, Real Estate, Federal Income Tax Basis	$ 3,200,000
Real Estate:
Balance at beginning of period	2,009,716	$ 1,711,612	$ 1,415,965
Additions during period
Other acquisitions	514,725	381,131	330,504
Improvements, etc.	53,099	33,133	16,851
Other additions	0	0	0
Deductions during period
Cost of real estate sold	(48,674)	(97,342)	(21,443)
Write-off of tenant improvements	(2,166)	(2,585)	(1,205)
Asset impairments and involuntary conversion	(2,588)	(16,233)	(29,060)
Balance at the end of the period including assets held for sale	2,524,112	2,009,716	1,711,612
Assets held for sale	(20,731)	0	0
Balance at the end of the period excluding assets held for sale	2,503,381	2,009,716	1,711,612
Accumulated Depreciation:
Balance at beginning of period	187,413	147,917	105,435
Additions during period
Depreciation and amortization expense	75,314	57,391	48,186
Other additions	0	0	0
Deductions during period
Disposals	(10,784)	(17,895)	(5,704)
Balance at the end of the period including assets held for sale	251,943	187,413	147,917
Assets held for sale	(2,886)	0	0
Balance at the end of the period excluding assets held for sale	$ 249,057	$ 187,413	$ 147,917