STAG Industrial (STAG) 10-K 13 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Feb. 11, 2019	Jun. 29, 2018
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, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 2,832
Entity Common Stock, Shares Outstanding		112,502,759
Entity Shell Company	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Rental Property:
Land	$ 364,023	$ 321,560
Buildings and improvements, net of accumulated depreciation of $316,930 and $249,057, respectively	2,285,663	1,932,764
Deferred leasing intangibles, net of accumulated amortization of $246,502 and $280,642, respectively	342,015	313,253
Total rental property, net	2,991,701	2,567,577
Cash and cash equivalents	7,968	24,562
Restricted cash	14,574	3,567
Tenant accounts receivable, net	42,236	33,602
Prepaid expenses and other assets	36,902	25,364
Interest rate swaps	9,151	6,079
Assets held for sale, net	0	19,916
Total assets	3,102,532	2,680,667
Liabilities:
Unsecured credit facility	100,500	271,000
Unsecured term loans, net	596,360	446,265
Unsecured notes, net	572,488	398,234
Mortgage notes, net	56,560	58,282
Accounts payable, accrued expenses and other liabilities	45,507	43,216
Interest rate swaps	4,011	1,217
Tenant prepaid rent and security deposits	22,153	19,045
Dividends and distributions payable	13,754	11,880
Deferred leasing intangibles, net of accumulated amortization of $12,764 and $13,555, respectively	21,567	21,221
Total liabilities	1,432,900	1,270,360
Commitments and contingencies (Note 11)
Equity:
Common stock, par value $0.01 per share, 150,000,000 shares authorized, 112,165,786 and 97,012,543 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively	1,122	970
Additional paid-in capital	2,118,179	1,725,825
Cumulative dividends in excess of earnings	(584,979)	(516,691)
Accumulated other comprehensive income	4,481	3,936
Total stockholders’ equity	1,613,803	1,359,040
Noncontrolling interest	55,829	51,267
Total equity	1,669,632	1,410,307
Total liabilities and equity	3,102,532	2,680,667
Series B, -0- and 2,800,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2018 and December 31, 2017, respectively
Equity:
Preferred stock, par value $0.01 per share, 15,000,000 shares authorized,	0	70,000
Series C, 3,000,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2018 and December 31, 2017
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, 2018	Dec. 31, 2017
Building and building, accumulated amortization	$ 316,930	$ 249,057
Deferred leasing intangibles assets, accumulated amortization	246,502	280,642
Deferred leasing intangibles liabilities, accumulated amortization	$ 12,764	$ 13,555
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	112,165,786	97,012,543
Common stock, shares outstanding	112,165,786	97,012,543
Series B, -0- and 2,800,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2018 and December 31, 2017, respectively
Preferred stock, shares issued	0	2,800,000
Preferred stock, shares outstanding	0	2,800,000
Preferred stock, liquidation preference (in dollars per share)	$ 0	$ 25
Series C, 3,000,000 shares (liquidation preference of $25.00 per share) issued and outstanding at December 31, 2018 and December 31, 2017
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 ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue
Rental income	$ 295,654	$ 255,831	$ 212,741
Tenant recoveries	54,039	45,005	37,107
Other income	1,300	251	395
Total revenue	350,993	301,087	250,243
Expenses
Property	69,021	57,701	48,904
General and administrative	34,052	33,349	33,395
Property acquisition costs	0	5,386	4,567
Depreciation and amortization	167,617	150,881	125,444
Loss on impairments	6,182	1,879	16,845
Gain on involuntary conversion	0	(325)	0
Other expenses	1,277	1,786	1,149
Total expenses	278,149	250,657	230,304
Other income (expense)
Interest and other income	20	12	10
Interest expense	(48,817)	(42,469)	(42,923)
Loss on extinguishment of debt	(13)	(15)	(3,261)
Gain on the sales of rental property, net	72,211	24,242	61,823
Total other income (expense)	23,401	(18,230)	15,649
Net income	96,245	32,200	35,588
Less: income attributable to noncontrolling interest after preferred stock dividends	3,319	941	1,069
Net income attributable to STAG Industrial, Inc.	92,926	31,259	34,519
Less: preferred stock dividends	7,604	9,794	13,897
Less: redemption of preferred stock	2,661	0	0
Less: amount allocated to participating securities	276	334	384
Net income attributable to common stockholders	$ 82,385	$ 21,131	$ 20,238
Weighted average common shares outstanding — basic	103,401	89,538	70,637
Weighted average common shares outstanding — diluted	103,807	90,004	70,853
Net income per share — basic and diluted
Net income per share attributable to common stockholders — basic	$ 0.80	$ 0.24	$ 0.29
Net income per share attributable to common stockholders — diluted	$ 0.79	$ 0.23	$ 0.29

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 96,245	$ 32,200	$ 35,588
Other comprehensive income:
Income on interest rate swaps	310	5,670	898
Other comprehensive income	310	5,670	898
Comprehensive income	96,555	37,870	36,486
Income attributable to noncontrolling interest after preferred stock dividends	(3,319)	(941)	(1,069)
Other comprehensive income attributable to noncontrolling interest	(12)	(238)	(44)
Comprehensive income attributable to STAG Industrial, Inc.	$ 93,224	$ 36,691	$ 35,373

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Series C Preferred Stock	Preferred Stock	Preferred StockSeries C Preferred Stock	Common Stock	Additional Paid-in Capital	Cumulative Dividends in Excess of Earnings	Accumulated Other Comprehensive Income (Loss)	Total Stockholders' Equity	Total Stockholders' EquitySeries C Preferred Stock	Noncontrolling Interest - Unit holders in Operating Partnership
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
Redemption of preferred stock	(69,000)
Offering costs	(6,928)					(6,928)			(6,928)
Dividends, Common Stock							113,226
Dividends									113,226
Distribution Made to Limited Partner, Cash Distributions Declared											5,707
Dividends and distributions, net	(118,933)
Non-cash compensation activity, net	9,775					3,690			3,691		6,084
Non-cash compensation activity (in shares)					116,441
Non-cash compensation activity (in excess of earnings)					$ 1
Redemption of common units to common stock					$ 1	616			617		$ (617)
Redemption of common units to common stock (in shares)					68,492						0
Rebalancing of noncontrolling interest						(3,617)			(3,617)		$ 3,617
Other comprehensive income	898							854	854		44
Net income	35,588						34,519		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)					16,262,375
Offering costs	(6,053)					(6,053)			(6,053)
Dividends, Common Stock							136,778
Dividends									136,778
Distribution Made to Limited Partner, Cash Distributions Declared											6,378
Dividends and distributions, net	(143,156)
Non-cash compensation activity, net	8,620					4,138			3,944		4,676
Non-cash compensation activity (in shares)					46,604
Non-cash compensation activity (in excess of earnings)					$ 0		194
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						0
Issuance of units	18,558										$ 18,558
Rebalancing of noncontrolling interest						2,726			2,726		(2,726)
Other comprehensive income	5,670							5,432	5,432		238
Net income	32,200						31,259		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
Increase (Decrease) in Stockholders' Equity
Cash flow hedging instruments cumulative effect adjustment (Note 2)							(258)	247	(11)		11
Proceeds from sales of common stock	390,447				$ 148	390,299			390,447
Proceeds from sales of common stock (in shares)					14,724,614
Redemption of preferred stock	(70,017)		(70,000)			(5,141)	(5,158)		(70,017)
Offering costs	(4,348)					(4,348)			(4,348)
Dividends, Common Stock							155,261
Dividends									155,261
Distribution Made to Limited Partner, Cash Distributions Declared											5,481
Dividends and distributions, net	(160,742)
Non-cash compensation activity, net	7,430					3,194			2,658		4,772
Non-cash compensation activity (in shares)					76,574
Non-cash compensation activity (in excess of earnings)					$ 1		537
Redemption of common units to common stock					$ 3	4,398			4,401		$ (4,401)
Redemption of common units to common stock (in shares)					352,055						0
Rebalancing of noncontrolling interest						(6,330)			(6,330)		$ 6,330
Other comprehensive income	310							298	298		12
Net income	96,245						92,926		92,926		3,319
Balance at Dec. 31, 2018	$ 1,669,632		$ 75,000		$ 1,122	$ 2,118,179	$ (584,979)	$ 4,481	$ 1,613,803		$ 55,829
Balance (in shares) at Dec. 31, 2018					112,165,786

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income	$ 96,245	$ 32,200	$ 35,588
Adjustment to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	167,617	150,881	125,444
Loss on impairments	6,182	1,879	16,845
Gain on involuntary conversion	0	(325)	0
Non-cash portion of interest expense	2,316	1,897	1,632
Intangible amortization in rental income, net	4,164	4,583	6,213
Straight-line rent adjustments, net	(11,163)	(7,475)	(1,817)
Dividends on forfeited equity compensation	15	2	3
Loss on extinguishment of debt	13	15	3,261
Gain on the sales of rental property, net	(72,211)	(24,242)	(61,823)
Non-cash compensation expense	8,922	9,547	9,729
Change in assets and liabilities:
Tenant accounts receivable, net	(903)	(2,125)	(1,435)
Prepaid expenses and other assets	(8,921)	(9,103)	(4,580)
Accounts payable, accrued expenses and other liabilities	2,385	514	6,161
Tenant prepaid rent and security deposits	3,108	3,850	567
Total adjustments	101,524	129,898	100,200
Net cash provided by operating activities	197,769	162,098	135,788
Cash flows from investing activities:
Acquisitions of land and buildings and improvements	(564,805)	(497,264)	(377,559)
Additions of land and building and improvements	(34,584)	(45,790)	(30,485)
Acquisitions of other assets	(794)	0	(158)
Proceeds from sales of rental property, net	207,943	65,075	152,079
Proceeds from insurance on involuntary conversion	0	1,796	0
Acquisitions of other liabilities	242	0	0
Acquisition deposits, net	(4,916)	255	(560)
Acquisitions of deferred leasing intangibles	(110,287)	(95,707)	(89,576)
Net cash used in investing activities	(507,201)	(571,635)	(346,259)
Cash flows from financing activities:
Proceeds from unsecured credit facility	894,500	677,500	513,000
Repayment of unsecured credit facility	(1,065,000)	(434,500)	(541,000)
Proceeds from unsecured term loans	150,000	0	150,000
Proceeds from unsecured notes	175,000	0	0
Repayment of mortgage notes	(1,843)	(105,470)	(70,444)
Proceeds from sale of preferred stock	0	0	75,000
Redemption of preferred stock	(70,000)	0	(69,000)
Payment of loan fees and costs	(4,465)	(1,209)	(715)
Payment of loan prepayment fees and costs	0	(15)	(3,278)
Dividends and distributions	(158,869)	(141,006)	(117,441)
Proceeds from sales of common stock	390,447	427,542	282,669
Repurchase and retirement of share-based compensation	(1,524)	(969)	0
Offering costs	(4,401)	(6,012)	(6,921)
Net cash provided by financing activities	303,845	415,861	211,870
Increase (decrease) in cash and cash equivalents and restricted cash	(5,587)	6,324	1,399
Cash and cash equivalents and restricted cash—beginning of period	28,129	21,805	20,406
Cash and cash equivalents and restricted cash—end of period	22,542	28,129	21,805
Supplemental disclosure:
Cash paid for interest, net of capitalized interest	46,364	40,685	39,367
Supplemental schedule of non-cash investing and financing activities
Issuance of units for acquisitions of land and building and improvements and deferred leasing intangibles	0	(18,558)	0
Additions to building and other capital improvements	0	158	1,175
Transfer of other assets to building and other capital improvements	0	(158)	0
Acquisitions of land and buildings and improvements	(840)	(17,461)	(3,572)
Acquisitions of deferred leasing intangibles	(48)	(2,079)	(1,008)
Partial disposal of building due to involuntary conversion of building	0	363	779
Investing other receivables due to involuntary conversion of building	0	(363)	(779)
Change in additions of land, building, and improvements included in accounts payable, accrued expenses, and other liabilities	147	(7,125)	(1,455)
Additions to building and other capital improvements from non-cash compensation	(25)	(26)	(18)
Assumption of mortgage notes	0	0	4,037
Fair market value adjustment to mortgage notes acquired	0	0	75
Change in loan fees, costs, and offering costs included in accounts payable, accrued expenses, and other liabilities	40	(15)	26
Reclassification of preferred stock called for redemption to liability	70,000	0	0
Dividends and distributions accrued	$ 13,754	$ 11,880	$ 9,728

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017 , the Company owned a 96.5% and 95.9% , 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, 2018 , the Company owned 390 buildings in 37 states with approximately 76.8 million rentable square feet (square feet unaudited herein and throughout the Notes), consisting of 323 warehouse/distribution buildings, 58 light manufacturing buildings, and nine flex/office buildings. The Company’s buildings were approximately 95.5% leased (unaudited) to 349 tenants (unaudited) as of December 31, 2018 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
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. New Accounting Standards Adopted 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 the Company adopted this standard effective January 1, 2018 using the modified retrospective transition method. The adoption of this standard resulted in a cumulative effect adjustment of approximately $0.3 million recorded as an increase to cumulative dividends in excess of earnings and an increase to accumulated other comprehensive income as of January 1, 2018 in the accompanying Consolidated Statements of Equity. 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, and the Company adopted this standard prospectively effective January 1, 2018. The adoption of this standard did not have a material effect on the Company's consolidated financial statements. 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 was 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, which the Company adopted effective January 1, 2018. The Company adopted this standard effective January 1, 2018 using the modified retrospective approach. 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, and the Company adopted this standard prospectively effective January 1, 2018. As a result, it is expected that the majority of the Company's acquisitions will be accounted for as asset acquisitions, whereas under the former guidance the majority of the Company's acquisitions had been accounted for as business combinations. The most significant difference between the two accounting models that impacts 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. 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 the Company adopted this standard effective January 1, 2018. As a result, the Company has included restricted cash with cash and cash equivalents when reconciling the beginning and end of period total amounts on the accompanying Consolidated Statements of Cash Flows. The effects of this standard were applied retrospectively to all prior periods presented. For the year ended December 31, 2017 , the effect of the change in accounting principle was a decrease in cash provided by operating activities of approximately $0.5 million and an increase in cash used in investing activities of approximately $5.6 million on the accompanying Consolidated Statements of Cash Flows. For the year ended December 31, 2016 , the effect of the change in accounting principle was an increase in cash provided by operating activities of approximately $0.4 million and a decrease in cash used in investing activities of approximately $0.9 million on the accompanying Consolidated Statements of Cash Flows. 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, and the Company adopted this standard prospectively effective January 1, 2018. The adoption of this standard did not have a material effect on the Company's consolidated financial statements, as its only effect was related to certain disclosures in the notes to the consolidated financial statements. 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. Additionally, the new revenue guidance requires improved disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted this standard effective January 1, 2018 using the modified retrospective approach. The adoption of this standard did not have a material effect on the Company's consolidated financial statements. New Accounting Standards Issued but not yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , and various subsequent ASU’s, 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 the modified retrospective transition method by recognizing a cumulative effect adjustment to the opening balance of cumulative dividends in excess of earnings, by either applying the new guidance at the beginning of the earliest comparative period or by applying the new guidance at the adoption date. The Company intends to adopt available practical expedients which allows the Company to 1) not reassess whether any expired or existing contracts are or contain leases; 2) not reassess the lease classification for any expired or existing leases; and 3) not reassess initial direct costs for any existing leases. Upon the Company's adoption of ASU 2016-02 on January 1, 2019, the Company expects to record a right of use asset of approximately $16 million and a related lease liability of approximately $18 million on the accompanying Consolidated Balance Sheets. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which the Company adopted on January 1, 2018, as discussed in “New Accounting Standards Adopted” above. Lease contracts with customers, which constitute a vast majority of the Company’s revenues, are specifically excluded from the model’s scope. However, once the new leases standard under ASU 2016-02 is adopted by the Company, 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 may be different. In July 2018, the FASB issued ASU 2018-11 which amends Topic 842, Leases , and provides lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component and, instead, to account for those components as a single component if the non-lease components otherwise would be accounted for under the new revenue guidance and both of the following are met: i) the timing and pattern of transfer of the non-lease component(s) and associated lease component are the same; and ii) the lease component, if accounted for separately, would be classified as an operating lease. Under this new expedient, if the non-lease components associated with the lease component are the predominant component of the combined component, a company should account for the combined component in accordance with Topic 606. Otherwise, the company should account for the combined component as an operating lease in accordance with Topic 842. In December 2018, the FASB issued ASU 2018-20 which amends Topic 842, Leases , and allows lessors to continue to exclude from revenue the lessor costs that are paid by lessees directly to third parties. The Company plans to adopt the standard using the practical expedient, and the adoption of ASU 2016-02 on January 1, 2019 is not expected to materially impact the Company's consolidated financial statements. 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, with depreciation 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 or asset acquisitions 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 fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. 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 and deferred leasing intangible liabilities 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 is based in part on assumptions regarding anticipated hold period, future occupancy, rental rates, capital requirements, and exit capitalization rates that could differ from actual results. The discount rate used to present value the cash flows for determining fair value is also subjective. Depreciation expense is computed using the straight-line method based on the following estimated useful lives. Description Estimated Useful Life 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 fully depreciated or amortized tenant improvements, deferred leasing intangible assets, and deferred leasing intangible liabilities of approximately $1.3 million , $113.1 million , $4.3 million , respectively, for the year ended December 31, 2018 and approximately $2.2 million , $30.0 million , $1.5 million , respectively, for the year ended December 31, 2017 . 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, cash held in escrow for real estate taxes and capital improvements as required in various mortgage note agreements, and cash held by the Company’s transfer agent for preferred stock dividends that are distributed subsequent to period end. Restricted cash may also include cash held by qualified intermediaries to facilitate a like-kind exchange of real estate under Section 1031 of the Code. The following table presents a reconciliation of cash and cash equivalents and restricted cash reported on the accompanying Consolidated Balance Sheets to amounts reported on the accompanying Consolidated Statements of Cash Flows. Reconciliation of cash and cash equivalents and restricted cash (in thousands) December 31, 2018 December 31, 2017 Cash and cash equivalents $ 7,968 $ 24,562 Restricted cash 14,574 3,567 Total cash and cash equivalents and restricted cash $ 22,542 $ 28,129 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, 2018 and 2017 , the Company had an allowance for doubtful accounts of approximately $0.8 million and $0.1 million , respectively. The Company accrues rental income earned, but not yet receivable, in accordance with GAAP. As of December 31, 2018 and 2017 , the Company had accrued rental income, net of allowance of approximately $32.4 million and $24.7 million , respectively. The Company maintains an allowance for estimated losses that may result from those revenues, which as of December 31, 2018 and 2017 , was approximately $0 and $0.2 million , respectively. As of December 31, 2018 and 2017 , the Company had approximately $18.3 million and $12.7 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, 2018 and 2017 , the Company had approximately $0.7 million and $0.7 million , respectively, of lease security deposits available in cash, which are included in restricted cash on the accompanying Consolidated Balance Sheets. The Company's remaining lease security deposits are commingled in cash and cash equivalents. These funds may be used to settle tenant accounts receivables in the event of a default under the related lease. As of December 31, 2018 and December 31, 2017 , the Company's total liability associated with these lease security deposits was approximately $8.4 million and $8.1 million , respectively, and 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 carrying 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 written off 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, 2018 . 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. See Note 4 for the fair value of the Company’s indebtedness. See Note 5 for the fair value 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 on the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity. 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 may not be taxable. A return of capital has the effect of reducing the holder's adjusted tax basis in its investment, which may or may not be taxable to the holder. The Company paid approximately $5.2 million ( $1.88125 per share) of the 9.0% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") dividends for the year ended December 31, 2016, that were treated as ordinary income for tax purposes. The Company paid approximately $2.4 million ( $0.87413 per share) of the 6.625% Series B Cumulative Redeemable Preferred Stock ("Series B Preferred Stock") dividends, of which $0.71493 per share was treated as ordinary income for tax purposes, $0.07521 per share was treated as unrecaptured section 1250 capital gain for tax purposes, and $0.08399 per share was treated as other capital gain for income tax purposes for the year ended December 31, 2018 . The Company paid approximately $4.6 million ( $1.65625 per share) and $4.6 million ( $1.65625 per share) of the Series B Preferred Stock dividends for the years ended December 31, 2017 and 2016, respectively, that were treated as ordinary income for tax purposes. The Company paid approximately $5.2 million ( $1.71875 per share) of the 6.875% Series C Cumulative Redeemable Preferred Stock ("Series C Preferred Stock") dividends, of which $1.40573 per share was treated as ordinary income for tax purposes, $0.14789 per share was treated as unrecaptured section 1250 capital gain for tax purposes, and $0.16513 per share was treated as other capital gain for income tax purposes for the year ended December 31, 2018 . The Company paid approximately $5.2 million ( $1.71875 per share) and $4.1 million ( $1.355905 per share) of the 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 dividends per common share

Rental Property

Rental Property	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Real Estate	Rental Property The following table summarizes the components of rental property, net as of December 31, 2018 and 2017 . Rental Property, net (in thousands) December 31, 2018 December 31, 2017 Land $ 364,023 $ 321,560 Buildings, net of accumulated depreciation of $199,497 and $160,281, respectivel y 2,082,781 1,756,579 Tenant improvements, net of accumulated depreciation of $36,450 and $32,714, respectively 30,704 30,138 Building and land improvements, net of accumulated depreciation of $80,983 and $56,062, respectivel y 168,229 143,170 Construction in progress 3,949 2,877 Deferred leasing intangibles, net of accumulated amortization of $246,502 and $280,642, respectively 342,015 313,253 Total rental property, net $ 2,991,701 $ 2,567,577 Acquisitions The following tables summarize the acquisitions of the Company during the years ended December 31, 2018 and 2017 . Year ended December 31, 2018 Market (1) Date Acquired Square Feet Buildings Purchase Price Greenville/Spartanburg, SC January 11, 2018 203,000 1 $ 10,755 Minneapolis/St Paul, MN January 26, 2018 145,351 1 13,538 Philadelphia, PA February 1, 2018 278,582 1 18,277 Houston, TX February 22, 2018 242,225 2 22,478 Greenville/Spartanburg, SC March 30, 2018 222,710 1 13,773 Three months ended March 31, 2018 1,091,868 6 78,821 Chicago, IL April 23, 2018 169,311 2 10,975 Milwaukee/Madison, WI April 26, 2018 53,680 1 4,316 Pittsburgh, PA April 30, 2018 175,000 1 15,380 Detroit, MI May 9, 2018 274,500 1 19,328 Minneapolis/St Paul, MN May 15, 2018 509,910 2 26,983 Cincinnati/Dayton, OH May 23, 2018 158,500 1 7,317 Baton Rouge, LA May 31, 2018 279,236 1 21,379 Las Vegas, NV June 12, 2018 122,472 1 17,920 Greenville/Spartanburg, SC June 15, 2018 131,805 1 5,621 Denver, CO June 18, 2018 64,750 1 7,044 Cincinnati/Dayton, OH June 25, 2018 465,136 1 16,421 Charlotte, NC June 29, 2018 69,200 1 5,446 Houston, TX June 29, 2018 252,662 1 27,170 Three months ended June 30, 2018 2,726,162 15 185,300 Knoxville, TN July 10, 2018 106,000 1 6,477 Pittsburgh, PA August 2, 2018 265,568 1 19,186 Raleigh/Durham, NC August 2, 2018 365,000 1 21,067 Detroit, MI August 6, 2018 439,150 1 21,077 Des Moines, IA August 8, 2018 121,922 1 6,053 McAllen/Edinburg/Pharr, TX August 9, 2018 270,084 1 18,523 Pittsburgh, PA August 15, 2018 200,500 1 11,327 Minneapolis/St Paul, MN August 24, 2018 120,606 1 8,422 Milwaukee/Madison, WI September 28, 2018 100,800 1 7,484 Milwaukee/Madison, WI September 28, 2018 174,633 2 13,288 Chicago, IL September 28, 2018 105,637 1 6,368 Indianapolis, IN September 28, 2018 478,721 1 29,085 Augusta/Richmond County, GA September 28, 2018 203,726 1 9,379 Charlotte, NC September 28, 2018 301,000 1 16,807 Three months ended September 30, 2018 3,253,347 15 194,543 Greensboro/Winston-Salem, NC October 22, 2018 128,287 1 8,376 Minneapolis/St Paul, MN October 22, 2018 109,444 1 8,064 Baltimore, MD October 23, 2018 60,000 1 7,538 Greenville/Spartanburg, SC November 7, 2018 210,891 1 11,289 Philadelphia, PA November 19, 2018 101,869 1 7,074 Detroit, MI (2) November 26, 2018 — — 620 Milwaukee/Madison, WI December 3, 2018 162,230 1 14,132 Pittsburgh, PA December 11, 2018 119,161 1 15,502 Tucson, AZ December 13, 2018 129,047 1 10,075 Detroit, MI December 14, 2018 285,306 2 20,095 Greenville/Spartanburg, SC December 17, 2018 726,500 1 28,995 Milwaukee/Madison, WI December 18, 2018 288,201 2 14,586 Milwaukee/Madison, WI December 19, 2018 112,144 1 5,349 Chicago, IL December 19, 2018 195,415 1 16,134 Indianapolis, IN December 20, 2018 446,500 1 33,314 Pittsburgh, PA December 20, 2018 179,394 1 16,725 Three months ended December 31, 2018 3,254,389 17 217,868 Year ended December 31, 2018 10,325,766 53 $ 676,532 (1) As defined by CoStar Realty Information Inc. If the building is located outside of a CoStar defined market, the city and state is reflected. (2) The Company acquired a vacant land parcel. Year ended December 31, 2017 Market (1) Date Acquired Square Feet Buildings Purchase Price Jacksonville, FL January 17, 2017 1,025,720 4 $ 34,264 Reno/Sparks, NV January 20, 2017 174,763 1 8,380 Charlotte, NC January 26, 2017 288,000 1 8,250 Northern New Jersey, NJ January 31, 2017 183,000 1 12,800 Westchester/So Connecticut, NY/CT February 23, 2017 200,000 1 12,762 Cleveland, OH March 10, 2017 173,034 1 7,622 Detroit, MI March 20, 2017 290,105 2 15,709 Three months ended March 31, 2017 2,334,622 11 99,787 Chicago, IL April 11, 2017 261,075 2 13,850 Greenville/Spartanburg, SC April 20, 2017 226,968 1 7,200 Cincinnati/Dayton, OH May 4, 2017 569,966 1 29,750 Chicago, IL May 10, 2017 336,204 1 22,867 San Diego, CA May 31, 2017 205,440 1 19,362 Kansas City, MO June 1, 2017 270,869 1 16,270 Philadelphia, PA June 6, 2017 245,749 1 16,000 Cincinnati/Dayton, OH June 6, 2017 224,921 1 11,450 Charlotte, NC June 8, 2017 275,000 1 6,675 Laredo, TX June 13, 2017 206,810 1 13,500 Pittsburgh, PA June 16, 2017 297,200 1 23,650 Chicago, IL June 26, 2017 102,500 1 5,900 Westchester/So Connecticut, NY/CT June 27, 2017 105,000 1 8,200 Dallas/Ft Worth, TX June 28, 2017 389,546 1 28,600 Houston, TX June 29, 2017 232,800 3 25,000 Philadelphia, PA June 29, 2017 211,358 1 7,950 Minneapolis/St Paul, MN June 29, 2017 108,628 1 10,031 Detroit, MI June 30, 2017 303,760 1 19,351 Three months ended June 30, 2017 4,573,794 21 285,606 Atlanta, GA August 2, 2017 78,000 1 4,175 Philadelphia, PA September 6, 2017 382,886 1 18,981 Philadelphia, PA September 7, 2017 437,446 1 23,950 St. Louis, MO September 25, 2017 109,854 1 5,740 Detroit, MI September 29, 2017 160,464 1 8,641 Columbus, OH September 29, 2017 468,302 2 20,597 Las Vegas, NV September 29, 2017 34,916 1 4,642 Charlotte, NC September 29, 2017 499,200 1 25,750 Philadelphia, PA September 29, 2017 123,962 1 7,250 Three months ended September 30, 2017 2,295,030 10 119,726 Omaha/Council Bluffs, NE-IA October 23, 2017 90,000 1 6,600 Columbus, OH November 2, 2017 237,500 1 8,717 Greenville/Spartanburg, SC November 22, 2017 264,385 1 18,200 Columbia, SC November 29, 2017 200,000 1 10,000 Phoenix, AZ December 11, 2017 186,643 1 16,500 El Paso, TX December 18, 2017 498,382 2 16,850 Houston, TX December 18, 2017 68,300 1 8,100 Boston, MA December 27, 2017 86,000 1 8,125 Milwaukee/Madison, WI December 28, 2017 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 (1) As defined by CoStar Realty Information Inc. If the building is located outside of a CoStar defined market, the city and state is reflected. The following table summarizes the allocation of the consideration paid at the date of acquisition during the years ended December 31, 2018 and 2017 , for the acquired assets and liabilities in connection with the acquisitions identified in the tables above. Year ended December 31, 2018 Year ended December 31, 2017 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 $ 59,974 N/A $ 59,004 N/A Buildings 465,272 N/A 413,829 N/A Tenant improvements 6,684 N/A 10,044 N/A Building and land improvements 33,715 N/A 31,848 N/A Deferred leasing intangibles - In-place leases 77,803 9.0 62,493 8.3 Deferred leasing intangibles - Tenant relationships 32,448 11.9 27,056 10.8 Deferred leasing intangibles - Above market leases 10,372 10.6 14,375 10.6 Deferred leasing intangibles - Below market leases (10,110 ) 8.1 (5,222 ) 8.5 Deferred leasing intangibles - Above market ground leases (178 ) 48.1 (916 ) 49.0 Other assets 794 N/A — N/A Other liabilities (242 ) N/A — N/A Total purchase price $ 676,532 $ 612,511 On May 31, 2017, the Company acquired a property located in San Diego, CA. 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. The table below sets forth the results of operations for the years ended December 31, 2018 and 2017 for the properties acquired during the years ended December 31, 2018 and 2017 , included in the Company’s Consolidated Statements of Operations from the date of acquisition. Results of Operations (in thousands) Year ended December 31, 2018 Year ended December 31, 2017 Total revenue $ 22,099 $ 27,918 Property acquisition costs $ — $ 5,181 Net income (loss) $ 4,245 $ (1,473 ) Dispositions During the year ended December 31, 2018 , the Company sold 19 buildings comprised of approximately 3.9 million square feet with a net book value of approximately $135.7 million to third parties. These buildings contributed approximately $12.0 million , $18.6 million and $15.4 million to revenue for the years ended December 31, 2018 , 2017 and 2016 , respectively. These buildings contributed approximately $3.7 million , $5.0 million and $2.7 million to net income (exclusive of gain on involuntary conversion, loss on impairments, and gain on the sales of rental property, net) for the years ended December 31, 2018 , 2017 and 2016 , respectively. Net proceeds from the sales of rental property were approximately $207.9 million and the Company recognized the full gain on the sales of rental property, net of approximately $72.2 million for the year ended December 31, 2018 . 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 and $7.0 million to revenue for the years ended December 31, 2017 and 2016 , respectively. These buildings contributed approximately $1.5 million and $1.5 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 and 2016 , 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 to revenue (exclusive of termination income and acceleration of straight line rent) for the year ended December 31, 2016 . These buildings contributed approximately $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) for the year ended December 31, 2016 . Net proceeds from the sales of rental property were approximately $152.1 million and the Company recognized a gain on the sales of rental property, net of approximately $61.8 million for the year ended December 31, 2016 . All of the dispositions were accounted for under the full accrual method. 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 an 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 , $0.3 million , and $0 during the years ended December 31, 2018 , 2017 and 2016 , respectively. Loss on Impairments The following table summarizes the Company's loss on impairments for assets held and used during the year s ended December 31, 2018 , 2017 and 2016 . Market (1) Buildings Event or Change in Circumstance Leading to Impairment Evaluation (2) Valuation technique utilized to estimate fair value Fair Value (3) Loss on Impairments (in thousands) Buena Vista, VA 1 Change in estimated hold period (4) Discounted cash flows (5) Sergeant Bluff, IA 1 Change in estimated hold period (4) Discounted cash flows (5) Three months ended March 31, 2018 $ 3,176 $ 2,934 Chicago, IL 1 Change in estimated hold period Discounted cash flows (6) Cleveland, OH 1 Change in estimated hold period Discounted cash flows (6) Three months ended December 31, 2018 $ 4,322 $ 3,248 Year ended December 31, 2018 $ 7,498 $ 6,182 Cincinnati/Dayton, OH 1 Market leasing conditions (4) Discounted cash flows (7) Three months ended December 31, 2017 $ 1,543 $ 1,879 Year ended December 31, 2017 $ 1,543 $ 1,879 Fairfield, VA 1 Change in estimated hold period (8) Purchase and sale agreement Jackson, MS 1 Change in estimated hold period (8) Purchase and sale agreement Jackson, MS 1 Change in estimated hold period (8) Purchase and sale agreement South Bend/Mishawaka, IN 1 Market leasing conditions (8) Discounted cash flows (10) Philadelphia, PA 1 Market leasing conditions (4) Discounted cash flows (10) Cleveland, OH 2 Market leasing conditions Discounted cash flows (10) Baltimore, MD 2 Change in estimated hold period (9) Discounted cash flows (10) Three months ended June 30, 2016 $ 10,598 $ 11,231 Youngstown/Warren/Boardman, OH-PA 1 Change in estimated hold period (9) Discounted cash flows (11) West Michigan, MI 1 Change in estimated hold period (9) Discounted cash flows (11) Pensacola, FL 1 Change in estimated hold period Discounted cash flows (11) Three months ended December 31, 2016 $ 4,360 $ 5,614 Year ended December 31, 2016 $ 14,958 $ 16,845 (1) As defined by CoStar Realty Information Inc. If the building is located outside of a CoStar defined market, the city and state is reflected. (2) 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. (3) The estimated fair value of the property is based on Level 3 inputs and is a non-recurring fair value measurement. (4) This property was sold during the year ended December 31, 2018. (5) Level 3 inputs used to determine fair value for the properties impaired for the three months ended March 31, 2018: discount rates ranged from 11.0% to 14.5% and exit capitalization rates ranged from 11.0% to 13.0% . (6) Level 3 inputs used to determine fair value for the properties impaired for the three months ended December 31, 2018: discount rate of 12.0% and exit capitalization rates ranged from 8.3% to 12.0% . (7) 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% . (8) This property was sold during the year ended December 31, 2016 (9) This property was sold during the year ended December 31, 2017. (10) 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% . (11) 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% . Deferred Leasing Intangibles The following table summarizes the deferred leasing intangibles on the accompanying Consolidated Balance Sheets as of December 31, 2018 and 2017 . December 31, 2018 December 31, 2017 Deferred Leasing Intangibles (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Above market leases $ 73,122 $ (31,059 ) $ 42,063 $ 78,558 $ (36,810 ) $ 41,748 Other intangible lease assets 515,395 (215,443 ) 299,952 515,337 (243,832 ) 271,505 Total deferred leasing intangible assets $ 588,517 $ (246,502 ) $ 342,015 $ 593,895 $ (280,642 ) $ 313,253 Below market leases $ 34,331 $ (12,764 ) $ 21,567 $ 34,776 $ (13,555 ) $ 21,221 Total deferred leasing intangible liabilities $ 34,331 $ (12,764 ) $ 21,567 $ 34,776 $ (13,555 ) $ 21,221 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, 2018 , 2017 and 2016 . Year ended December 31, Deferred Leasing Intangibles Amortization (in thousands) 2018 2017 2016 Net decrease to rental income related to above and below market lease amortization $ 4,164 $ 4,583 $ 6,213 Amortization expense related to other intangible lease assets $ 74,370 $ 72,936 $ 66,291 The following table sets forth the amortization of deferred leasing intangibles over the next five years as of December 31, 2018 . 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) 2019 $ 61,253 $ 3,853 2020 $ 51,241 $ 3,519 2021 $ 40,381 $ 2,194 2022 $ 32,486 $ 1,368 2023 $ 26,352 $ 1,413

Debt

Debt	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017 . Loan Principal Outstanding as of December 31, 2018 (in thousands) Principal Outstanding as of December 31, 2017 Interest (1) Maturity Date Prepayment Terms (2) Unsecured credit facility: Unsecured Credit Facility (3) $ 100,500 $ 271,000 L + 0.90% Jan-15-2023 i Total unsecured credit facility 100,500 271,000 Unsecured term loans: Unsecured Term Loan C 150,000 150,000 L + 1.00% Sep-29-2020 i Unsecured Term Loan B 150,000 150,000 L + 1.00% Mar-21-2021 i Unsecured Term Loan A 150,000 150,000 L + 1.00% Mar-31-2022 i Unsecured Term Loan D 150,000 — L + 1.00% Jan-04-2023 i Unsecured Term Loan E (4) — — L + 1.00% Jan-15-2024 i Total unsecured term loans 600,000 450,000 Less: Total unamortized deferred financing fees and debt issuance costs (3,640 ) (3,735 ) Total carrying value unsecured term loans, net 596,360 446,265 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 G Unsecured Notes 75,000 — 4.10 % Jun-13-2025 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 Series H Unsecured Notes 100,000 — 4.27 % Jun-13-2028 ii Total unsecured notes 575,000 400,000 Less: Total unamortized deferred financing fees and debt issuance costs (2,512 ) (1,766 ) Total carrying value unsecured notes, net 572,488 398,234 Mortgage notes (secured debt): Wells Fargo Bank, National Association CMBS Loan 53,216 54,949 4.31 % Dec-1-2022 iii Thrivent Financial for Lutherans 3,795 3,906 4.78 % Dec-15-2023 iv Total mortgage notes 57,011 58,855 Add: Total unamortized fair market value premiums 50 61 Less: Total unamortized deferred financing fees and debt issuance costs (501 ) (634 ) Total carrying value mortgage notes, net 56,560 58,282 Total / weighted average interest rate (5) $ 1,325,908 $ 1,173,781 3.56 % (1) Current interest rate as of December 31, 2018 . At December 31, 2018 , the one-month LIBOR (“L”) was 2.50269% . 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. The spread over the applicable rate for the Company's unsecured credit facility and unsecured term loans is based on the Company's debt rating, as defined in the respective loan agreements. (2) Prepayment terms consist of (i) pre-payable with no penalty; (ii) pre-payable with penalty; (iii) pre-payable without penalty three months prior to the maturity date, however can be defeased; and (iv) pre-payable without penalty three months prior to the maturity date. (3) The capacity of the unsecured credit facility is $500.0 million . Deferred financing fees and debt issuance costs, net of accumulated amortization related to the unsecured credit facility of approximately $3.2 million and $1.5 million are included in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets as of December 31, 2018 and 2017 , respectively. (4) Capacity of $175.0 million , which the Company has until July 25, 2019 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, 2018 was approximately $568.9 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 $5.9 million and $5.6 million as of December 31, 2018 and 2017 , 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, 2018 , 2017 and 2016 . Year ended December 31, Costs Included in Interest Expense (in thousands) 2018 2017 2016 Amortization of deferred financing fees and debt issuance costs and fair market value premiums $ 2,316 $ 2,087 $ 1,698 Facility, unused, and other fees $ 1,246 $ 1,169 $ 1,380 2018 Debt Activity On December 20, 2018, upon the Company obtaining its second investment grade rating, the spread over the applicable rate on the Company's unsecured credit facility and unsecured term loans changed from being based upon the Company's consolidated leverage ratio, as defined in the respective loan agreements, to being based upon the Company's debt rating, as defined in the respective loan agreements. On July 26, 2018 , the Company closed on the refinancing of its unsecured credit facility. The refinancing transaction included extending the maturity date to January 15, 2023 , increasing the capacity to $500.0 million , and reducing the annual interest rate. As of December 31, 2018 , the interest rate on the unsecured credit facility was LIBOR plus a spread of 0.90% based on the Company’s debt rating, as defined in the credit agreement. The Company recognized a loss of approximately $13,000 as a result of the acceleration of unamortized deferred financing fees, which is included in loss on extinguishment of debt in the accompanying Consolidated Statements of Operations. The remaining unamortized deferred financing fees were carried over and are being amortized with new deferred financing fees through the new maturity date of the unsecured credit facility. As of December 31, 2018 , the unsecured credit facility has an annual facility fee of 0.20% based on the Company’s debt rating, as defined in the credit agreement, of total commitments that is due and payable quarterly. The Company is required to pay an annual fee of $50,000 . On July 26, 2018 , the Company entered into a $175.0 million unsecured term loan agreement ("Unsecured Term Loan E"). As of December 31, 2018 , the interest rate on the Unsecured Term Loan E was LIBOR plus a spread of 1.00% based on the Company's debt rating, as defined in the loan agreement. Unless otherwise terminated pursuant to the loan agreement, the Unsecured Term Loan E will mature on January 15, 2024 . The Unsecured Term Loan E has an accordion feature that allows the Company to increase its borrowing capacity to $350.0 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 25, 2019. To the extent that the Company does not request advances of the $175.0 million of aggregate commitments by July 25, 2019, the unadvanced commitments terminate. The Unsecured Term Loan E has an unused commitment fee equal to 0.15% of its unused commitments, which began to accrue on October 24, 2018 and is due and payable monthly until the earlier of (i) the date that commitments of $175.0 million have been fully advanced, (ii) July 26, 2019, and (iii) the date that commitments of $175.0 million have been reduced to zero pursuant to the terms of the agreement. The Company is required to pay an annual fee of $35,000 . The Company and certain wholly owned subsidiaries of the Operating Partnership are guarantors of the Unsecured Term Loan E. The agreement also contains financial and other covenants substantially similar to the covenants in the Company's unsecured credit facility. On July 26, 2018, the Company entered into amendments to its unsecured term loan agreements to conform certain provisions to the Unsecured Term Loan E agreement and the new unsecured credit facility agreement. On April 10, 2018 , the Company entered into a note purchase agreement (“NPA”) for the private placement by the Operating Partnership of $75.0 million senior unsecured notes (“Series G Unsecured Notes”) maturing June 13, 2025 with a fixed annual interest rate of 4.10% , and $100.0 million senior unsecured notes (“Series H Unsecured Notes”) maturing June 13, 2028 with a fixed annual interest rate of 4.27% . The NPA contains a number of financial covenants substantially similar to the financial covenants contained in the Company’s unsecured credit facility and other unsecured notes. The Operating Partnership issued the Series G Unsecured Notes and the Series H Unsecured Notes on June 13, 2018. In addition, on April 10, 2018, the Company entered into amendments to the note purchase agreements related to the Company’s outstanding unsecured notes to conform certain provisions in the agreements to the provisions in the NPA. The Company and certain wholly owned subsidiaries of the Operating Partnership are guarantors of the unsecured notes. On March 28, 2018, the Company drew $75.0 million of the $150.0 million unsecured term loan that was entered into on July 28, 2017 ("Unsecured Term Loan D"). On July 27, 2018, the Company drew the remaining $75.0 million of the Unsecured Term Loan D. 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 the Unsecured Term Loan D. As of December 31, 2018 , the interest rate on the Unsecured Term Loan D was LIBOR plus a spread of 1.0% based on the Company's debt rating, 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 are being amortized through the maturity date. The Company 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 is 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. 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 minimum fixed charge ratio of not less than or equal to 1.50 :1.00; and • a minimum unsecured interest coverage ratio of not less than or equal to 1.75 :1.00. 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, 2018 and 2017 . 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, 2018 and 2017 . The real estate net book value of the properties that are collateral for the Company’s mortgage notes was approximately $88.2 million and $90.9 million at December 31, 2018 and 2017 , respectively, and is limited to senior, property-level secured debt financing arrangements. Fair Value of Debt The following table presents the aggregate principal outstanding of the Company’s debt and the corresponding estimate of fair value as of December 31, 2018 and 2017 (in thousands). The fair value of the Company’s debt is based on Level 3 inputs. December 31, 2018 December 31, 2017 Principal Outstanding Fair Value Principal Outstanding Fair Value Unsecured credit facility $ 100,500 $ 100,500 $ 271,000 $ 271,528 Unsecured term loans 600,000 600,000 450,000 451,463 Unsecured notes 575,000 585,292 400,000 415,599 Mortgage notes 57,011 57,289 58,855 59,769 Total principal amount 1,332,511 $ 1,343,081 1,179,855 $ 1,198,359 Add: Total unamortized fair market value premiums 50 61 Less: Total unamortized deferred financing fees and debt issuance costs (6,653 ) (6,135 ) Total carrying value $ 1,325,908 $ 1,173,781 Future Principal Payments of Debt The following table reflects the Company’s aggregate future principal payments of the Company’s debt at December 31, 2018 . Year Future Principal Payments of Debt (in thousands) 2019 $ 1,926 2020 152,006 2021 152,103 2022 197,681 2023 353,795 Thereafter 475,000 Total aggregate principal payments $ 1,332,511

Use of Derivative Financial Ins

Use of Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2018
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, 2018 . 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 $ 337 1.3300 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Jul-01-2013 $ 50,000 $ 478 1.6810 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Aug-01-2013 $ 25,000 $ 233 1.7030 % One-month L Feb-14-2020 Regions Bank Sep-30-2013 Feb-03-2014 $ 25,000 $ 152 1.9925 % One-month L Feb-14-2020 The Toronto-Dominion Bank Oct-14-2015 Sep-29-2016 $ 25,000 $ 480 1.3830 % One-month L Sep-29-2020 PNC Bank, N.A. Oct-14-2015 Sep-29-2016 $ 50,000 $ 954 1.3906 % One-month L Sep-29-2020 Regions Bank Oct-14-2015 Sep-29-2016 $ 35,000 $ 671 1.3858 % One-month L Sep-29-2020 U.S. Bank, N.A. Oct-14-2015 Sep-29-2016 $ 25,000 $ 476 1.3950 % One-month L Sep-29-2020 Capital One, N.A. Oct-14-2015 Sep-29-2016 $ 15,000 $ 285 1.3950 % One-month L Sep-29-2020 Royal Bank of Canada Jan-08-2015 Mar-20-2015 $ 25,000 $ 408 1.7090 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Mar-20-2015 $ 25,000 $ 407 1.7105 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Sep-10-2017 $ 100,000 $ 506 2.2255 % One-month L Mar-21-2021 Wells Fargo, N.A. Jan-08-2015 Mar-20-2015 $ 25,000 $ 469 1.8280 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jan-08-2015 Feb-14-2020 $ 25,000 $ (46 ) 2.4535 % One-month L Mar-31-2022 Regions Bank Jan-08-2015 Feb-14-2020 $ 50,000 $ (115 ) 2.4750 % One-month L Mar-31-2022 Capital One, N.A. Jan-08-2015 Feb-14-2020 $ 50,000 $ (171 ) 2.5300 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jul-20-2017 Oct-30-2017 $ 25,000 $ 549 1.8485 % One-month L Jan-04-2023 Royal Bank of Canada Jul-20-2017 Oct-30-2017 $ 25,000 $ 549 1.8505 % One-month L Jan-04-2023 Wells Fargo, N.A. Jul-20-2017 Oct-30-2017 $ 25,000 $ 547 1.8505 % One-month L Jan-04-2023 PNC Bank, N.A. Jul-20-2017 Oct-30-2017 $ 25,000 $ 549 1.8485 % One-month L Jan-04-2023 PNC Bank, N.A. Jul-20-2017 Oct-30-2017 $ 50,000 $ 1,101 1.8475 % One-month L Jan-04-2023 The Toronto-Dominion Bank Jul-24-2018 Jul-26-2019 $ 50,000 $ (1,050 ) 2.9180 % One-month L Jan-12-2024 PNC Bank, N.A. Jul-24-2018 Jul-26-2019 $ 50,000 $ (1,055 ) 2.9190 % One-month L Jan-12-2024 Bank of Montreal Jul-24-2018 Jul-26-2019 $ 50,000 $ (1,050 ) 2.9190 % One-month L Jan-12-2024 U.S. Bank, N.A. Jul-24-2018 Jul-26-2019 $ 25,000 $ (524 ) 2.9190 % One-month L Jan-12-2024 The fair value of the interest rate swaps outstanding as of December 31, 2018 and 2017 was as follows. Balance Sheet Line Item (in thousands) Notional Amount December 31, 2018 Fair Value December 31, 2018 Notional Amount December 31, 2017 Fair Value December 31, 2017 Interest rate swaps-Asset $ 600,000 $ 9,151 $ 475,000 $ 6,079 Interest rate swaps-Liability $ 300,000 $ (4,011 ) $ 250,000 $ (1,217 ) 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. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive income and subsequently reclassified into interest expense in the same period during which the hedged transaction affects earnings. 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 $4.4 million will be reclassified from accumulated other comprehensive income as a decrease to interest expense over the next 12 months. The table below presents the effect of cash flow hedge accounting and the location in the consolidated financial statements for the years ended December 31, 2018 , 2017 and 2016 . Year ended December 31, Effect of Cash Flow Hedge Accounting (in thousands) 2018 2017 2016 Income (loss) recognized in accumulated other comprehensive income on interest rate swaps $ 1,687 $ 3,597 $ (2,244 ) Income (loss) reclassified from accumulated other comprehensive income into income as interest expense $ 1,377 $ (2,073 ) $ (3,142 ) Total interest expense presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded $ 48,817 $ 42,469 $ 42,923 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, 2018 , the Company had not breached the provisions of these agreements and has not posted any collateral related to these agreements. As of December 31, 2018 , derivatives that were in a net liability position by counterparty and subject to credit-risk-related contingent features had a termination value of approximately $1.1 million , which includes accrued interest but excludes any adjustment for nonperformance risk. As of December 31, 2018 , the Company had not breached the provisions of these agreements and has not posted any collateral related to these agreements. If the Company had breached any of its provisions at December 31, 2018 , it could have been required to settle its obligations under the agreement of the interest rate swaps in a liability position plus accrued interest for approximately $1.1 million . Fair Value of Interest Rate Swaps The Company’s valuation of the interest rate swaps is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs including interest rate curves. The fair values of interest rate swaps are determined by using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of December 31, 2018 and 2017 , 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, 2018 and 2017 . Fair Value Measurements as of Balance Sheet Line Item (in thousands) Fair Value December 31, 2018 Level 1 Level 2 Level 3 Interest rate swaps-Asset $ 9,151 $ — $ 9,151 $ — Interest rate swaps-Liability $ (4,011 ) $ — $ (4,011 ) $ — 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 ) $ —

Equity

Equity	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Equity	Equity Preferred Stock Pursuant to its charter, the Company is authorized to issue 15,000,000 shares of preferred stock, par value $0.01 per share. On June 11, 2018, the Company gave notice to redeem all 2,800,000 issued and outstanding shares of the Series B Preferred Stock. The Company recognized a deemed dividend to the holders of the Series B Preferred Stock of approximately $2.7 million on the accompanying Consolidated Statements of Operations for the year ended December 31, 2018 related to redemption costs and the original issuance costs of the Series B Preferred Stock. On July 11, 2018, the Company redeemed all of the Series B Preferred Stock. The following table sets forth the Company's outstanding preferred stock issuances as of December 31, 2018 . Preferred Stock Issuances Issuance Date Number of Shares Liquidation Value Per Share Interest Rate Series C Preferred Stock March 17, 2016 3,000,000 $ 25.00 6.875 % Dividends on the Series C Preferred Stock are payable quarterly in arrears on or about the last day of March, June, September, and December of each year. The Series C Preferred Stock ranks 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 Series C Preferred Stock has no stated maturity date and is not subject to mandatory redemption or any sinking fund. Generally, the Company is not permitted to redeem the Series C Preferred Stock prior to March 17, 2021, 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 preferred stock issuances during the years ended December 31, 2018 and 2017 . Quarter Ended 2018 Declaration Date Series B Series C Payment Date December 31 October 10, 2018 $ — $ 0.4296875 December 31, 2018 September 30 July 11, 2018 0.0460069 (1) 0.4296875 October 1, 2018 June 30 April 10, 2018 0.4140625 0.4296875 July 2, 2018 March 31 February 14, 2018 0.4140625 0.4296875 April 2, 2018 Total $ 0.8741319 $ 1.7187500 (1) On June 11, 2018, the Company gave notice to redeem all 2,800,000 issued and outstanding shares of the Series B Preferred Stock. On July 11, 2018, the Company redeemed all of the Series B 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. Quarter Ended 2017 Declaration Date Series B Preferred Stock Per Share Series C Preferred Stock Per Share 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 On January 10, 2019 , the Company’s board of directors declared the Series C Preferred Stock dividend for the quarter ending March 31, 2019 at a quarterly rate of $0.4296875 per share. Common Stock The following table sets forth the terms of the Company’s at-the market (“ATM”) common stock offering program as of December 31, 2018 . 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 $ 99,227 The table below sets forth the activity for the ATM common stock offering programs during the years ended December 31, 2018 and 2017 (in thousands, except share data). Year ended December 31, 2018 ATM Common Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2017 $500 million ATM 14,724,614 $ 26.52 $ 390,447 $ 4,040 $ 386,407 Total/weighted average 14,724,614 $ 26.52 $ 390,447 $ 4,040 $ 386,407 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) These programs ended before December 31, 2017 . Dividends The tables below set forth the dividends attributable to the Company's outstanding shares of common stock that were declared during the years ended December 31, 2018 and 2017 . 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 2018 Declaration Date Record Date Per Share Payment Date December 31 October 10, 2018 December 31, 2018 $ 0.118333 January 15, 2019 November 30 October 10, 2018 November 30, 2018 0.118333 December 17, 2018 October 31 October 10, 2018 October 31, 2018 0.118333 November 15, 2018 September 30 July 11, 2018 September 28, 2018 0.118333 October 15, 2018 August 31 July 11, 2018 August 31, 2018 0.118333 September 17, 2018 July 31 July 11, 2018 July 31, 2018 0.118333 August 15, 2018 June 30 April 10, 2018 June 29, 2018 0.118333 July 16, 2018 May 31 April 10, 2018 May 31, 2018 0.118333 June 15, 2018 April 30 April 10, 2018 April 30, 2018 0.118333 May 15, 2018 March 31 November 2, 2017 March 29, 2018 0.118333 April 16, 2018 February 28 November 2, 2017 February 28, 2018 0.118333 March 15, 2018 January 31 November 2, 2017 January 31, 2018 0.118333 February 15, 2018 Total $ 1.419996 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 On January 10, 2019 , the Company’s board of directors declared the common stock dividends for the months ending January 31, 2019, February 28, 2019 and March 31, 2019 at a monthly rate of $0.119167 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 5, 2018, January 6, 2017, and January 8, 2016, subject to the recipient’s continued employment, will vest in four equal installments on January 1 of each year beginning in 2019, 2018, and 2017, respectively. Refer to Note 14 for details on restricted shares of common stock granted on January 7, 2019 . 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, 2018 , 2017 and 2016 . Unvested Restricted Shares of Common Stock Shares Balance at December 31, 2015 271,115 Granted 101,289 (1) Vested (98,746 ) (2) Forfeited (1,321 ) Balance at December 31, 2016 272,337 Granted 75,001 (1) Vested (109,209 ) (2) Forfeited (922 ) Balance at December 31, 2017 237,207 Granted 76,659 (1) Vested (112,405 ) (2) Forfeited (10,999 ) Balance at December 31, 2018 190,462 (1) The fair value per share on the grant date of January 5, 2018, January 6, 2017, and January 8, 2016 was $26.40 , $24.41 , and $17.98 , respectively. (2) The Company repurchased and retired 41,975 and 40,836 restricted shares of common stock that vested during the years ended December 31, 2018 and 2017 , respectively. The Company did not repurchase and retire any restricted shares of common stock during the year ended December 31, 2016. The unrecognized compensation expense associated with the Company’s restricted shares of common stock at December 31, 2018 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, 2018 , 2017 and 2016 . Year ended December 31, Vested Restricted Shares of Common Stock 2018 2017 2016 Vested restricted shares of common stock 112,405 109,209 98,746 Fair value of vested restricted shares of common stock (in thousands) $ 3,002 $ 2,591 $ 1,813

Noncontrolling Interest

Noncontrolling Interest	12 Months Ended
	Dec. 31, 2018
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest The table below summarizes the activity for noncontrolling interest in the Company for the years ended December 31, 2018 , 2017 and 2016 . Noncontrolling Interest LTIP Units Other Common Units Total Noncontrolling Common Units Noncontrolling Interest Percentage Balance at December 31, 2015 1,610,105 1,915,872 3,525,977 4.9 % Granted/Issued 176,396 — 176,396 N/A Forfeited — — — 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 Forfeited — — — 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 % Granted/Issued 324,802 — 324,802 N/A Forfeited — — — N/A Conversions from LTIP units to Other Common Units (165,672 ) 165,672 — N/A Redemptions from Other Common Units to common stock — (352,055 ) (352,055 ) N/A Balance at December 31, 2018 1,616,200 2,453,234 4,069,434 3.5 % 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. 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. LTIP units granted on January 5, 2018, 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 having been March 31, 2018, March 31, 2017, March 31, 2016, and March 31, 2016, respectively. LTIP units granted on January 5, 2018, January 6, 2017, and January 6, 2016 to independent directors, subject to the recipient’s continued service, will vest on January 1, 2019, January 1, 2018, and January 1, 2017, respectively. On March 12, 2018 , the Company's board of directors appointed Michelle Dilley to serve as director of the Company. On March 12, 2018 , Ms. Dilley was granted 3,930 LTIP units which vested on January 1, 2019. Refer to Note 14 for details on the LTIP units granted on January 7, 2019 . Refer to Note 8 for a discussion of vested LTIP units granted on January 5, 2018 pursuant to the 2015 Outperformance Program (the “2015 OPP”). 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 2015 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 2015 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 2015 OPP after February 25, 2016 was not 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. The fair value of the LTIP 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 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 granted during years ended December 31, 2018 , 2017 and 2016 (excluding those vested LTIP units granted pursuant to the 2015 OPP; refer to Note 8 for details). LTIP Units Assumptions Grant date March 12, 2018 January 5, 2018 January 6, 2017 February 22, 2016 January 8, 2016 January 6, 2016 Expected term (years) 10 10 10 10 10 10 Expected volatility 22.0 % 22.0 % 23.0 % 22.0 % 22.0 % 22.0 % Expected dividend yield 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Risk-free interest rate 2.46 % 2.09 % 1.61 % 1.01 % 1.28 % 1.36 % Fair value of LTIP units at issuance (in thousands) $ 90 $ 3,447 $ 2,924 $ 277 $ 2,254 $ 390 LTIP units at issuance 3,930 137,616 126,239 18,386 135,546 22,464 Fair value unit price per LTIP unit at issuance $ 22.90 $ 25.05 $ 23.16 $ 15.07 $ 16.63 $ 17.36 The following table summarizes activity related to the Company’s unvested LTIP units for the years ended December 31, 2018 , 2017 and 2016 . Unvested LTIP Units Units 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 Granted 324,802 Vested (373,893 ) Forfeited — Balance at December 31, 2018 251,216 The unrecognized compensation expense associated with the Company’s LTIP units at December 31, 2018 was approximately $4.8 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 LTIP units vested during years ended December 31, 2018 , 2017 and 2016 . Year ended December 31, Vested LTIP units 2018 2017 2016 Vested LTIP units 373,893 229,355 307,883 Fair value of vested LTIP units (in thousands) $ 9,772 $ 6,101 $ 6,393 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. 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, 2018
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 6,642,461 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. Under the 2011 Plan the Company grants performance units to certain key employees of the Company. The ultimate value of the performance units depends on the Company’s total stockholder return ("TSR") over a three -year period (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. On January 5, 2018 , January 6, 2017, and March 8, 2016, the Company granted performance units approved by the compensation committee of the board of directors, under the 2011 Plan to certain key employees of the Company. The measuring period commenced on January 1, 2018, 2017, and 2016, respectively, and ends on December 31, 2020, 2019, and 2018, respectively. Refer to Note 14 for details on the settlement of the 2016 performance units and the performance units granted on January 7, 2019 . 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, 2018 , 2017 and 2016 . Performance Units Assumptions Grant date January 5, 2018 January 6, 2017 March 8, 2016 Expected volatility 22.0 % 23.0 % 23.0 % Expected dividend yield 6.0 % 6.0 % 6.0 % Risk-free interest rate 2.09 % 1.61 % 1.08 % Fair value of performance units grant (in thousands) $ 5,456 $ 2,882 $ 2,614 On January 1, 2018, the Company’s three year measuring period pursuant to the 2015 OPP concluded. It was determined that the Company's total stockholder return 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, all of which were issued on January 5, 2018 . The unrecognized compensation expense associated with the Company's performance units at December 31, 2018 was approximately $5.3 million and is expected to be recognized over a weighted average period of approximately 2.2 years . At December 31, 2018 and 2017 , the number of shares available for issuance under the 2011 Plan were 3,276,125 and 983,735 , respectively. The number of shares available for issuance under the 2011 Plan as of December 31, 2018 do not include an allocation for the January 5, 2018 and January 6, 2017 performance units as the awards were not determinable as of December 31, 2018 . The number of shares available for issuance under the 2011 Plan as December 31, 2017 do not include an allocation for the Performance-based Compensation Plans as the awards were not determinable as of December 31, 2017 . 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 director compensation for the years ended December 31, 2018 , 2017 and 2016 . Year ended December 31, Non-Cash Compensation Expense (in thousands) 2018 2017 2016 Restricted shares of common stock $ 1,698 $ 2,373 $ 2,157 LTIP units 3,546 4,675 6,089 (1) Performance-based Compensation Plans 3,298 2,147 1,137 Board of directors compensation (2) 380 352 346 Total non-cash compensation expense $ 8,922 $ 9,547 $ 9,729 (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, 2018 , 2017 and 2016 . 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

Earnings Per Share	12 Months Ended
	Dec. 31, 2018
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. Basic net income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income per common share is computed by dividing net income available to common stockholders by the sum of the weighted average number of common shares outstanding and any dilutive securities for the period. Restricted shares of common stock 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, 2018 , 2017 and 2016 , there were 195,281 , 237,896 and 276,367 , 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, 2018 , 2017 and 2016 . Year ended December 31, Earnings Per Share (in thousands, except per share data) 2018 2017 2016 Numerator Net income $ 96,245 $ 32,200 $ 35,588 Less: preferred stock dividends 7,604 9,794 13,897 Less: redemption of preferred stock 2,661 — — Less: amount allocated to participating securities 276 334 384 Less: income attributable to noncontrolling interest after preferred stock dividends 3,319 941 1,069 Net income attributable to common stockholders $ 82,385 $ 21,131 $ 20,238 Denominator Weighted average common shares outstanding — basic 103,401 89,538 70,637 Effect of dilutive securities (1) Share-based compensation 406 466 216 Weighted average common shares outstanding — diluted 103,807 90,004 70,853 Net income per share — basic and diluted Net income per share attributable to common stockholders — basic $ 0.80 $ 0.24 $ 0.29 Net income per share attributable to common stockholders — diluted $ 0.79 $ 0.23 $ 0.29 (1) During the years ended December 31, 2018 , 2017 , and 2016 , there were 195 , 238 , and 276 , 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 the allocation of income under the two-class method was more dilutive.

Future Minimum Rents

Future Minimum Rents	12 Months Ended
	Dec. 31, 2018
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, 2018 are approximately as follows. Year Future Minimum Rents (in thousands) 2019 $ 299,978 2020 $ 271,936 2021 $ 226,970 2022 $ 188,707 2023 $ 152,814 Thereafter $ 535,192

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
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. The Company has letters of credit of approximately $5.6 million as of December 31, 2018 related to construction 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, 2018 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) 2019 $ 2,110 2020 $ 2,122 2021 $ 1,227 2022 $ 935 2023 $ 944 Thereafter $ 45,580 (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. Rental expense recognized related to the Company's ground leases and operating leases was approximately $2.1 million , $1.5 million , and $1.5 million for the years ended December 31, 2018 , 2017 and 2016 , respectively.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [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, 2018 , 2017 and 2016 was approximately $0.3 million , $0.3 million and $0.4 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, 2018
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. Before dissolution, 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. The Company recognized asset management fee income of approximately $0.1 million and $0.2 million for the years ended December 31, 2017 and 2016 , respectively, which is included in other income on the accompanying Consolidated Statements of Operations. As of December 31, 2018 and 2017 , the Company had a receivable in the amount of approximately $0 and $0 , 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, 2018
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 7, 2019 , the Company granted 88,152 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 2020 . The fair value of the restricted shares of common stock at the date of grant was $24.85 per share. On January 7, 2019 , the Company granted 26,796 LTIP units to non-employee, independent directors, and 127,853 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, 2020. 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, 2019. The fair value of the LTIP units at the date of grant was approximately $3.6 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 19.0% , a weighted average expected dividend yield of 6.0% , and a weighted average risk-free interest rate of 2.57% . The fair value of the LTIP units are based on Level 3 inputs and are non-recurring fair value measurements. On January 7, 2019 , the Company granted performance units to certain executive officers and senior employees pursuant to the 2011 Plan. The terms of the January 7, 2019 performance units grant is substantially the same as the performance units grants discussed in Note 8, except that the measuring period commences on January 1, 2019 and ends on December 31, 2021, and the Award Shares are immediately vested at the end of the measuring period. The fair value of the performance units at the date of grant was approximately $5.6 million , as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation using a weighted average volatility factor of 20.7% , a weighted average expected dividend yield of 6.0% , and a weighted average risk-free interest rate of 2.56% . The fair value of the performance units are based on Level 3 inputs and are non-recurring fair value measurements. As discussed in Note 8, on December 31, 2018 the measuring period pursuant to the March 8, 2016 performance units concluded and it was determined that the Company's TSR exceeded the threshold percentage and return hurdle. The compensation committee of the board of directors approved the issuance of 102,216 vested LTIP units and 74,032 vested shares of common stock (of which 30,193 shares of common stock were repurchased and retired) to the participants, which were issued on January 7, 2019 . The compensation committee of the board of directors also approved the issuance of 107,308 LTIP units and 22,678 restricted shares of common stock that will vest on December 31, 2019, which were issued on January 7, 2019 .

Schedule 2 - Valuation and Qual

Schedule 2 - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, 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, 2018 $ 311 $ 1,050 $ (603 ) $ 758 December 31, 2017 $ 188 $ 123 $ — $ 311 December 31, 2016 $ 106 $ 125 $ (43 ) $ 188

Schedule 3 - Real Estate and Ac

Schedule 3 - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in 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, 2018 (in thousands) Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2018 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 $ (30 ) 2006 Albion, IN — 932 103 — 932 103 1,035 (297 ) 2006 Albion, IN — 1,107 55 — 1,107 55 1,162 (353 ) 2006 Albion, IN — 970 332 — 970 332 1,302 (309 ) 2006 Albion, IN — 1,397 52 — 1,397 52 1,449 (445 ) 2006 Albion, IN — 1,528 126 — 1,528 126 1,654 (487 ) 2006 Albion, IN — 710 187 — 710 187 897 (226 ) 2006 Alexandria, MN — 5,855 960 151 6,006 960 6,966 (1,254 ) 2011 Allentown, PA — 7,336 1,962 783 8,119 1,962 10,081 (1,528 ) 2014 Arlington, TX — 2,374 413 304 2,678 413 3,091 (738 ) 2007 Arlington, TX — 6,151 1,246 913 7,064 1,246 8,310 (1,270 ) 2012 Augusta, GA — 6,249 937 — 6,249 937 7,186 (91 ) 2018 Avon, CT — 2,750 336 483 3,233 336 3,569 (564 ) 2012 Avondale, AZ — 13,163 1,674 — 13,163 1,674 14,837 (481 ) 2017 Batavia, IL — 4,273 618 — 4,273 618 4,891 (298 ) 2017 Baton Rouge, LA — 15,402 1,962 — 15,402 1,962 17,364 (349 ) 2018 Bedford Heights, OH — 5,279 837 917 6,196 837 7,033 (444 ) 2017 Belfast, ME — 10,331 1,883 616 10,947 1,883 12,830 (2,278 ) 2011 Belvidere, IL — 4,083 442 255 4,338 442 4,780 (515 ) 2015 Belvidere, IL — 16,914 2,341 — 16,914 2,341 19,255 (993 ) 2017 Belvidere, IL — 3,956 733 36 3,992 733 4,725 (632 ) 2013 Belvidere, IL — 2,524 1,310 — 2,524 1,310 3,834 (675 ) 2013 Belvidere, IL — 3,517 538 114 3,631 538 4,169 (540 ) 2013 Belvidere, IL — 6,899 670 — 6,899 670 7,569 (1,046 ) 2013 Belvidere, IL — 4,291 668 — 4,291 668 4,959 (675 ) 2013 Belvidere, IL — 3,711 866 159 3,870 866 4,736 (681 ) 2013 Belvidere, IL — 2,808 586 83 2,891 586 3,477 (519 ) 2013 Belvidere, IL — 8,303 1,542 591 8,894 1,542 10,436 (1,539 ) 2013 Belvidere, IL — 71 216 — 71 216 287 (71 ) 2013 Belleville, MI — 6,524 724 9 6,533 724 7,257 (385 ) 2017 Biddeford, ME — 8,164 1,369 3,916 12,080 1,369 13,449 (1,474 ) 2016 Bloomington, MN — 8,582 1,702 — 8,582 1,702 10,284 (347 ) 2018 Boardman, OH — 3,473 282 854 4,327 282 4,609 (1,315 ) 2007 Brooklyn Park, MN — 11,988 1,926 — 11,988 1,926 13,914 (821 ) 2016 Buffalo, NY — 2,924 146 — 2,924 146 3,070 (536 ) 2012 Burlington, NJ — 42,652 5,135 170 42,822 5,135 47,957 (5,648 ) 2015 Burlington, NJ — 378 3,267 223 601 3,267 3,868 — 2015 Burlington, NJ — 19,577 4,030 1,238 20,815 4,030 24,845 (2,647 ) 2015 Caledonia, WI — 3,339 225 — 3,339 225 3,564 (87 ) 2018 Calhoun, GA — 2,764 388 — 2,764 388 3,152 (378 ) 2014 Camarillo, CA — 10,807 7,242 237 11,044 7,242 18,286 (1,842 ) 2014 Camarillo, CA — 19,857 7,989 25 19,882 7,989 27,871 (3,057 ) 2014 Cedar Hill, TX — 11,971 4,066 309 12,280 4,066 16,346 (1,558 ) 2016 Charlotte, NC — 2,444 805 4 2,448 805 3,253 (445 ) 2014 Charlotte, NC — 3,474 386 634 4,108 386 4,494 (511 ) 2014 Charlotte, NC — 3,961 515 — 3,961 515 4,476 (409 ) 2015 Charlotte, NC — 3,654 913 — 3,654 913 4,567 (70 ) 2018 Charleroi, PA — 10,539 935 — 10,539 935 11,474 (33 ) 2018 Chattanooga, TN — 2,321 187 — 2,321 187 2,508 (374 ) 2015 Chattanooga, TN — 4,730 380 13 4,743 380 5,123 (764 ) 2015 Chattanooga, TN — 8,459 424 — 8,459 424 8,883 (1,555 ) 2015 Cheektowaga, NY — 2,757 216 1,004 3,761 216 3,977 (833 ) 2011 Chesterfield, MI — 1,169 207 62 1,231 207 1,438 (450 ) 2007 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2018 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 Chesterfield, MI — 798 150 128 926 150 1,076 (260 ) 2007 Chesterfield, MI — 802 151 224 1,026 151 1,177 (340 ) 2007 Chesterfield, MI — 5,304 942 2,150 7,454 942 8,396 (2,286 ) 2007 Chester, VA — 3,402 775 — 3,402 775 4,177 (769 ) 2014 Chicopee, MA — 5,867 504 77 5,944 504 6,448 (1,218 ) 2012 Chippewa Falls, WI — 2,303 133 — 2,303 133 2,436 (484 ) 2011 Chippewa Falls, WI — 544 44 — 544 44 588 (112 ) 2011 Cleveland, TN — 3,161 554 84 3,245 554 3,799 (732 ) 2011 Clinton, PA — 19,339 — — 19,339 — 19,339 (1,036 ) 2017 Clinton, PA — 12,390 — — 12,390 — 12,390 (309 ) 2018 Clinton, PA — 16,840 — — 16,840 — 16,840 (211 ) 2018 Clinton, TN — 3,302 403 165 3,467 403 3,870 (643 ) 2015 Columbus, OH — 5,222 337 11 5,233 337 5,570 (304 ) 2017 Columbus, OH — 3,123 489 167 3,290 489 3,779 (754 ) 2014 Columbia, SC — 5,171 783 — 5,171 783 5,954 (612 ) 2016 West Columbia, SC — 6,988 715 1,543 8,531 715 9,246 (1,275 ) 2013 Council Bluffs, IA — 4,438 414 — 4,438 414 4,852 (191 ) 2017 Croydon, PA — 4,655 829 — 4,655 829 5,484 (29 ) 2018 Dallas, GA — 1,712 475 — 1,712 475 2,187 (369 ) 2012 LaGrange, GA — 3,175 240 1,152 4,327 240 4,567 (810 ) 2011 Danville, KY — 11,772 965 3,699 15,471 965 16,436 (3,201 ) 2011 Daytona Beach, FL — 875 1,237 2,232 3,107 1,237 4,344 (893 ) 2007 Dayton, OH — 5,896 331 391 6,287 331 6,618 (878 ) 2015 Dayton, OH — 23,725 2,465 — 23,725 2,465 26,190 (1,769 ) 2017 DeForest, WI — 5,402 1,131 151 5,553 1,131 6,684 (497 ) 2016 DeKalb, IL — 4,568 489 — 4,568 489 5,057 (807 ) 2013 De Pere, WI — 6,144 525 101 6,245 525 6,770 (1,238 ) 2012 Des Moines, IA — 4,477 556 — 4,477 556 5,033 (72 ) 2018 Duncan, SC — 11,258 1,002 835 12,093 1,002 13,095 (2,506 ) 2012 Duncan, SC — 6,739 709 1,118 7,857 709 8,566 (1,241 ) 2012 Durham, NC — 2,700 753 31 2,731 753 3,484 (421 ) 2015 Earth City, MO — 2,806 1,123 60 2,866 1,123 3,989 (332 ) 2016 Edgefield, SC — 938 220 750 1,688 220 1,908 (395 ) 2012 Edwardsville, KS — 13,224 1,360 16 13,240 1,360 14,600 (816 ) 2017 Elizabethtown, PA — 5,357 1,000 208 5,565 1,000 6,565 (829 ) 2014 Elkhart, IN — 210 25 143 353 25 378 (83 ) 2007 Elkhart, IN — 3,519 422 571 4,090 422 4,512 (1,123 ) 2007 El Paso, TX — 3,674 — — 3,674 — 3,674 (217 ) 2017 El Paso, TX — 10,398 — — 10,398 — 10,398 (639 ) 2017 El Paso, TX — 9,099 1,248 320 9,419 1,248 10,667 (1,363 ) 2014 El Paso, TX — 7,905 1,124 10 7,915 1,124 9,039 (1,425 ) 2014 El Paso, TX — 14,159 1,854 812 14,971 1,854 16,825 (2,218 ) 2014 El Paso, TX — 9,897 1,581 881 10,778 1,581 12,359 (1,451 ) 2014 El Paso, TX — 5,893 1,136 — 5,893 1,136 7,029 (769 ) 2015 El Paso, TX — 3,096 — 1,088 4,184 — 4,184 (878 ) 2012 Erlanger, KY — 3,826 635 346 4,172 635 4,807 (458 ) 2016 East Troy, WI — 4,962 304 — 4,962 304 5,266 (678 ) 2014 East Windsor, CT — 5,711 400 72 5,783 400 6,183 (551 ) 2016 East Windsor, CT — 4,713 348 614 5,327 348 5,675 (1,391 ) 2012 Fairborn, OH — 5,569 867 70 5,639 867 6,506 (1,029 ) 2015 Fairfield, OH — 2,842 948 104 2,946 948 3,894 (454 ) 2016 Fairfield, OH — 5,337 1,086 — 5,337 1,086 6,423 (150 ) 2018 Farmington, NY — 5,342 410 20 5,362 410 5,772 (1,581 ) 2007 Florence, KY — 10,934 3,109 40 10,974 3,109 14,083 (311 ) 2018 Forest Park, GA — 9,527 1,733 883 10,410 1,733 12,143 (1,057 ) 2016 Forest Park, GA — 8,189 1,715 127 8,316 1,715 10,031 (760 ) 2016 Fort Wayne, IN — 3,142 112 — 3,142 112 3,254 (472 ) 2014 Fountain Inn, SC — 8,386 766 — 8,386 766 9,152 (362 ) 2018 Gaffney, SC — 4,712 1,233 548 5,260 1,233 6,493 (425 ) 2017 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2018 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 Gahanna, OH — 4,191 1,265 1,258 5,449 1,265 6,714 (1,463 ) 2011 Gardiner, ME — 8,983 948 — 8,983 948 9,931 (988 ) 2016 Garland, TX — 5,425 1,344 842 6,267 1,344 7,611 (1,136 ) 2014 Germantown, WI — 6,023 442 — 6,023 442 6,465 (70 ) 2018 Germantown, WI — 3,296 359 — 3,296 359 3,655 (44 ) 2018 Germantown, WI — 10,908 1,175 — 10,908 1,175 12,083 (31 ) 2018 Germantown, WI — 6,035 1,186 — 6,035 1,186 7,221 (1,269 ) 2014 Gloversville, NY (692 ) 1,299 117 — 1,299 117 1,416 (248 ) 2012 Gloversville, NY (1,118 ) 2,603 151 20 2,623 151 2,774 (493 ) 2012 Gloversville, NY (798 ) 1,486 154 36 1,522 154 1,676 (285 ) 2012 Goshen, IN — 6,509 1,442 1,800 8,309 1,442 9,751 (1,738 ) 2011 Grand Junction, CO — 4,002 314 — 4,002 314 4,316 (473 ) 2015 Grand Rapids, MI — 7,532 169 34 7,566 169 7,735 (1,093 ) 2015 Graniteville, SC — 8,389 1,629 — 8,389 1,629 10,018 (1,141 ) 2016 Greenwood, SC (1,437 ) 1,848 166 — 1,848 166 2,014 (335 ) 2012 Greenwood, SC (1,224 ) 1,232 169 290 1,522 169 1,691 (289 ) 2012 Fountain Inn, SC — 14,984 1,878 81 15,065 1,878 16,943 (607 ) 2017 Greenwood, IN — 22,032 2,585 — 22,032 2,585 24,617 (53 ) 2018 Greenville, SC — 3,379 309 35 3,414 309 3,723 (448 ) 2015 Greer, SC — 10,841 1,126 — 10,841 1,126 11,967 (297 ) 2018 Greer, SC — 4,939 681 364 5,303 681 5,984 (124 ) 2018 Greer, SC — 1,434 129 303 1,737 129 1,866 (220 ) 2015 Greer, SC — 1,748 128 64 1,812 128 1,940 (227 ) 2015 Greer, SC — 460 153 45 505 153 658 (66 ) 2015 Greer, SC — 3,016 306 99 3,115 306 3,421 (411 ) 2015 Greensboro, NC — 6,383 691 19 6,402 691 7,093 (52 ) 2018 Fountain Inn, SC — 4,438 719 95 4,533 719 5,252 (767 ) 2016 Groveport, OH — 10,920 642 105 11,025 642 11,667 (604 ) 2017 Grove City, OH — 3,745 730 78 3,823 730 4,553 (434 ) 2016 Gurnee, IL — 11,380 1,716 984 12,364 1,716 14,080 (1,659 ) 2014 Gurnee, IL — 4,902 1,337 954 5,856 1,337 7,193 (1,294 ) 2012 Hampstead, MD — 34,969 780 — 34,969 780 35,749 (5,465 ) 2013 Harrisonburg, VA — 11,179 1,455 1,180 12,359 1,455 13,814 (1,935 ) 2012 Hartland, WI — 4,634 1,526 — 4,634 1,526 6,160 (463 ) 2016 Harvard, IL — 2,980 1,157 324 3,304 1,157 4,461 (861 ) 2013 Hazelwood, MO — 5,815 1,382 1,391 7,206 1,382 8,588 (1,888 ) 2011 Hebron, KY — 4,601 370 — 4,601 370 4,971 (769 ) 2014 Hilliard, OH — 7,412 550 — 7,412 550 7,962 (361 ) 2017 Holland, MI (2,970 ) 3,475 279 60 3,535 279 3,814 (801 ) 2012 Houston, TX — 8,435 1,048 — 8,435 1,048 9,483 (266 ) 2018 Conroe, TX — 20,995 1,853 — 20,995 1,853 22,848 (351 ) 2018 Houston, TX — 7,790 2,255 9 7,799 2,255 10,054 (1,359 ) 2013 Houston, TX — 4,906 1,428 808 5,714 1,428 7,142 (1,053 ) 2014 Houston, TX — 5,019 565 780 5,799 565 6,364 (1,267 ) 2014 Houston, TX — 8,448 2,546 158 8,606 2,546 11,152 (702 ) 2016 Houston, TX — 5,037 1,502 — 5,037 1,502 6,539 (595 ) 2017 Houston, TX — 5,564 953 — 5,564 953 6,517 (535 ) 2017 Houston, TX — 7,052 927 — 7,052 927 7,979 (413 ) 2017 Houston, TX — 9,371 809 — 9,371 809 10,180 (261 ) 2018 Huntersville, NC — 3,123 1,061 182 3,305 1,061 4,366 (577 ) 2012 Idaho Falls, ID — 2,735 356 71 2,806 356 3,162 (518 ) 2013 Independence, VA (1,336 ) 2,212 226 110 2,322 226 2,548 (619 ) 2012 Itasca, IL — 12,216 2,428 1,170 13,386 2,428 15,814 (1,272 ) 2016 Jackson, TN — 2,374 230 337 2,711 230 2,941 (580 ) 2012 Jacksonville, FL — 3,438 451 410 3,848 451 4,299 (342 ) 2017 Jacksonville, FL — 7,867 650 321 8,188 650 8,838 (658 ) 2017 Jacksonville, FL — 8,195 674 1,557 9,752 674 10,426 (856 ) 2017 Jacksonville, FL — 7,266 596 1,024 8,290 596 8,886 (697 ) 2017 Janesville, WI — 17,477 828 798 18,275 828 19,103 (3,242 ) 2013 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2018 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 Johnstown, NY (692 ) 1,304 178 — 1,304 178 1,482 (270 ) 2012 Johnstown, NY (1,011 ) 1,592 216 47 1,639 216 1,855 (274 ) 2012 Johnstown, NY (825 ) 978 151 — 978 151 1,129 (241 ) 2012 Johnstown, NY (1,544 ) 1,467 140 — 1,467 140 1,607 (307 ) 2012 Kendallville, IN — 1,510 142 — 1,510 142 1,652 (481 ) 2006 Kenosha, WI — 3,991 797 591 4,582 797 5,379 (473 ) 2016 Kentwood, MI — 2,478 407 120 2,598 407 3,005 (439 ) 2013 Knoxville, TN — 3,201 447 46 3,247 447 3,694 (580 ) 2015 Knoxville, TN — 4,919 472 — 4,919 472 5,391 (96 ) 2018 Lafayette, IN (1,144 ) 2,205 295 59 2,264 295 2,559 (389 ) 2012 Lafayette, IN (1,943 ) 3,405 410 123 3,528 410 3,938 (587 ) 2012 Lafayette, IN (3,992 ) 8,107 906 301 8,408 906 9,314 (1,649 ) 2012 Lancaster, PA — 5,480 1,520 650 6,130 1,520 7,650 (1,406 ) 2015 Langhorne, PA — 3,868 1,370 341 4,209 1,370 5,579 (518 ) 2016 Langhorne, PA — 3,105 1,308 535 3,640 1,308 4,948 (486 ) 2016 Langhorne, PA — 6,372 1,884 129 6,501 1,884 8,385 (557 ) 2016 Lansing, MI — 8,164 501 — 8,164 501 8,665 (1,831 ) 2011 Lansing, MI — 4,077 580 — 4,077 580 4,657 (793 ) 2012 Lansing, MI (5,322 ) 7,162 429 100 7,262 429 7,691 (1,365 ) 2012 Lansing, MI — 5,209 907 — 5,209 907 6,116 (960 ) 2013 Laredo, TX — 10,195 1,535 — 10,195 1,535 11,730 (645 ) 2017 Las Vegas, NV — 12,390 2,615 — 12,390 2,615 15,005 (272 ) 2018 Las Vegas, NV — 3,259 770 — 3,259 770 4,029 (160 ) 2017 Laurens, SC — 4,254 151 — 4,254 151 4,405 (516 ) 2015 Lebanon, IN — 21,160 1,654 — 21,160 1,654 22,814 (231 ) 2018 Lebanon, PA — 5,235 1,380 100 5,335 1,380 6,715 (1,381 ) 2017 Lenexa, KS — 7,610 2,368 — 7,610 2,368 9,978 (1,742 ) 2014 Lewiston, ME — 5,515 173 1,541 7,056 173 7,229 (2,330 ) 2007 Lexington, NC — 3,968 232 1,388 5,356 232 5,588 (1,008 ) 2011 Libertyville, IL — 6,455 421 80 6,535 421 6,956 (922 ) 2015 Libertyville, IL — 770 143 53 823 143 966 (341 ) 2015 Livonia, MI — 7,123 1,390 — 7,123 1,390 8,513 (28 ) 2018 Livonia, MI — 8,967 848 — 8,967 848 9,815 (25 ) 2018 Londonderry, NH — 6,683 730 — 6,683 730 7,413 (1,167 ) 2013 Longmont, CO — 5,345 734 — 5,345 734 6,079 (113 ) 2018 Loudon, TN — 3,751 170 — 3,751 170 3,921 (515 ) 2015 Louisville, KY — 3,875 386 520 4,395 386 4,781 (1,098 ) 2011 Louisville, KY — 6,182 616 632 6,814 616 7,430 (1,688 ) 2011 Macedonia, OH — 8,195 1,690 143 8,338 1,690 10,028 (1,140 ) 2015 Machesney Park, IL — 3,742 300 — 3,742 300 4,042 (591 ) 2015 Madison, WI — 6,365 609 — 6,365 609 6,974 (273 ) 2017 Madison, WI — 4,518 444 — 4,518 444 4,962 (184 ) 2017 Madison, TN — 5,758 1,655 1,786 7,544 1,655 9,199 (1,552 ) 2011 Malden, MA — 2,817 366 — 2,817 366 3,183 (836 ) 2007 Malden, MA — 3,961 507 — 3,961 507 4,468 (1,175 ) 2007 Maple Grove, MN — 6,634 969 212 6,846 969 7,815 (446 ) 2017 Marion, IA — 2,257 691 49 2,306 691 2,997 (503 ) 2013 Marion, IN (2,714 ) 2,934 243 718 3,652 243 3,895 (650 ) 2012 Marshall, MI — 1,051 199 80 1,131 199 1,330 (232 ) 2013 Mascot, TN — 3,228 284 — 3,228 284 3,512 (568 ) 2016 Mascot, TN — 3,452 385 65 3,517 385 3,902 (746 ) 2013 Salem, OH — 7,674 858 1,077 8,751 858 9,609 (2,211 ) 2006 Mason, OH — 4,731 673 — 4,731 673 5,404 (884 ) 2014 Mayville, WI — 4,118 547 330 4,448 547 4,995 (1,409 ) 2007 McHenry, IL — 3,818 576 75 3,893 576 4,469 (123 ) 2018 McHenry, IL — 4,010 448 14 4,024 448 4,472 (118 ) 2018 Mebane, NC — 4,570 481 457 5,027 481 5,508 (903 ) 2012 Mebane, NC — 4,148 443 — 4,148 443 4,591 (802 ) 2012 Mebane, NC — 4,999 358 677 5,676 358 6,034 (859 ) 2013 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2018 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 Mechanicsburg, PA — 5,143 1,482 795 5,938 1,482 7,420 (1,225 ) 2014 Mechanicsburg, PA — 7,144 1,800 25 7,169 1,800 8,969 (1,215 ) 2014 New Kingstown, PA — 8,625 2,041 335 8,960 2,041 11,001 (1,384 ) 2014 Mechanicsburg, PA — 8,008 1,452 — 8,008 1,452 9,460 (1,335 ) 2014 Mendota Heights, MN — 3,492 1,494 187 3,679 1,494 5,173 (116 ) 2018 Milford, CT — 10,040 1,264 385 10,425 1,264 11,689 (813 ) 2017 Mission, TX — 12,623 1,882 — 12,623 1,882 14,505 (205 ) 2018 Montgomery, AL — 7,523 418 1,789 9,312 418 9,730 (703 ) 2016 Montgomery, IL — — 173 — — 173 173 — 2018 Montgomery, IL — 12,485 2,190 1,934 14,419 2,190 16,609 (2,529 ) 2012 Mooresville, NC — 18,010 4,195 — 18,010 4,195 22,205 (783 ) 2017 Mooresville, NC — 7,411 701 359 7,770 701 8,471 (1,778 ) 2011 Mountain Home, NC — 2,472 523 — 2,472 523 2,995 (405 ) 2014 Murfreesboro, TN — 2,863 722 9 2,872 722 3,594 (628 ) 2014 Nashua, NH — 8,682 1,431 449 9,131 1,431 10,562 (1,606 ) 2014 Nashville, TN — 3,601 547 — 3,601 547 4,148 (615 ) 2013 New Berlin, WI — 6,500 1,068 141 6,641 1,068 7,709 (1,260 ) 2013 New Castle, DE — 17,767 2,616 175 17,942 2,616 20,558 (1,963 ) 2016 New Hope, MN — 1,970 1,919 — 1,970 1,919 3,889 (509 ) 2013 Lopatcong, NJ — 10,054 1,554 1,599 11,653 1,554 13,207 (1,056 ) 2011 New Kensington, PA — 9,145 177 — 9,145 177 9,322 (128 ) 2018 Newton, NC — 7,338 732 1,283 8,621 732 9,353 (988 ) 2011 North Haven, CT — 39,911 4,086 1,387 41,298 4,086 45,384 (6,631 ) 2015 North Jackson, OH — 4,427 1,528 5 4,432 1,528 5,960 (766 ) 2013 North Jackson, OH — 7,681 486 67 7,748 486 8,234 (1,057 ) 2011 Norcorss, GA — 2,586 1,589 — 2,586 1,589 4,175 (529 ) 2016 Norton, MA — 6,740 2,839 78 6,818 2,839 9,657 (1,633 ) 2011 Novi, MI (2,608 ) 3,879 252 336 4,215 252 4,467 (872 ) 2012 Novi, MI — 6,035 626 — 6,035 626 6,661 (722 ) 2015 Novi, MI — 16,918 1,381 — 16,918 1,381 18,299 (241 ) 2018 Oak Creek, WI — 4,350 526 — 4,350 526 4,876 (16 ) 2018 Oak Creek, WI — 6,125 805 250 6,375 805 7,180 (70 ) 2018 Oakdale, MN — 5,028 1,396 — 5,028 1,396 6,424 (50 ) 2018 Oakwood Village, OH — 3,067 343 — 3,067 343 3,410 (510 ) 2015 Ocala, FL — 13,296 731 1,252 14,548 731 15,279 (2,212 ) 2013 O'Fallon, MO — 3,632 1,233 186 3,818 1,233 5,051 (281 ) 2017 O'Fallon, MO — 2,676 1,242 332 3,008 1,242 4,250 (678 ) 2011 O'Hara Township, PA (14,956 ) 18,875 1,435 7,652 26,527 1,435 27,962 (4,923 ) 2012 Oklahoma City, OK — 2,211 746 22 2,233 746 2,979 (295 ) 2016 Oklahoma City, OK — 9,199 1,614 1,373 10,572 1,614 12,186 (1,166 ) 2015 Olathe, KS — 20,763 2,431 2,105 22,868 2,431 25,299 (1,892 ) 2016 Orlando, FL — 4,839 1,339 — 4,839 1,339 6,178 (906 ) 2013 Orlando, FL — 1,996 721 — 1,996 721 2,717 (419 ) 2012 Pedricktown, NJ — 10,696 2,414 — 10,696 2,414 13,110 (715 ) 2017 Pensacola, FL — 2,989 145 435 3,424 145 3,569 (1,378 ) 2007 Pewaukee, WI — 6,678 841 — 6,678 841 7,519 (27 ) 2018 Pewaukee, WI — 4,586 439 — 4,586 439 5,025 (18 ) 2018 Phenix City, AL (1,490 ) 1,493 276 252 1,745 276 2,021 (365 ) 2012 Piedmont, SC — 4,152 231 86 4,238 231 4,469 (528 ) 2015 Piedmont, SC — 2,127 158 — 2,127 158 2,285 (277 ) 2015 Piedmont, SC — 2,302 204 — 2,302 204 2,506 (471 ) 2015 Piedmont, SC — 9,260 797 — 9,260 797 10,057 (48 ) 2018 Pineville, NC — 1,380 392 — 1,380 392 1,772 (326 ) 2012 Pittston, PA — 19,959 677 — 19,959 677 20,636 (1,133 ) 2017 Pleasant Prairie, WI — 12,341 2,297 — 12,341 2,297 14,638 (36 ) 2018 Pleasant Prairie, WI — 4,949 523 — 4,949 523 5,472 (70 ) 2018 Plymouth, MI — 4,670 365 — 4,670 365 5,035 (716 ) 2015 Plymouth, MN — 4,978 1,599 — 4,978 1,599 6,577 (115 ) 2018 Portage, IN — 5,416 — — 5,416 — 5,416 (902 ) 2012 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2018 City/State Encumbrances (1) Building & Improvements (2) Land Costs Capitalized Subsequent to Acquisition and Valuation Provision Building & Improvements Land Total Accumulated Depreciation (3) Acq Date Portland, TN — 8,353 1,662 66 8,419 1,662 10,081 (1,937 ) 2012 Portland, ME — 3,727 891 86 3,813 891 4,704 (706 ) 2012 Rapid City, SD — 10,662 2,071 1,161 11,823 2,071 13,894 (4,157 ) 2007 Reading, PA — 5,401 1,708 223 5,624 1,708 7,332 (710 ) 2016 Muhlenberg Township, PA — 13,866 843 396 14,262 843 15,105 (2,569 ) 2012 Redford, MI — 6,114 728 405 6,519 728 7,247 (838 ) 2017 Reno, NV — 3,461 1,372 — 3,461 1,372 4,833 (664 ) 2014 Rock Hill, SC (3,795 ) 6,297 1,411 351 6,648 1,411 8,059 (766 ) 2016 Rock Hill, SC — 4,512 1,095 772 5,284 1,095 6,379 (424 ) 2017 Rockwall, TX — 16,066 2,683 — 16,066 2,683 18,749 (984 ) 2017 Rogers, MN — 11,787 1,671 238 12,025 1,671 13,696 (3,476 ) 2011 Rogers, AR — 8,280 1,072 1,574 9,854 1,072 10,926 (1,923 ) 2011 Romulus, MI — 14,942 1,254 — 14,942 1,254 16,196 (378 ) 2018 Romulus, MI — 15,043 1,080 32 15,075 1,080 16,155 (1,009 ) 2017 Rural Hall, NC — 5,664 439 1,007 6,671 439 7,110 (1,456 ) 2011 Salem, OR — 3,150 599 640 3,790 599 4,389 (830 ) 2011 Salem, OR — 1,452 266 433 1,885 266 2,151 (469 ) 2011 Salisbury, NC — 5,284 1,535 134 5,418 1,535 6,953 (580 ) 2017 Sauk Village, IL — 5,405 877 105 5,510 877 6,387 (927 ) 2013 Savage, MN — 3,996 3,194 989 4,985 3,194 8,179 (1,202 ) 2014 Savannah, GA — 13,219 439 — 13,219 439 13,658 (2,054 ) 2014 San Diego, CA — 15,016 2,290 78 15,094 2,290 17,384 (974 ) 2017 South Easton, MA — 5,880 403 — 5,880 403 6,283 (218 ) 2017 Seville, OH — 1,591 273 61 1,652 273 1,925 (418 ) 2011 Seville, OH — 1,219 492 110 1,329 492 1,821 (781 ) 2011 Shannon, GA — 12,969 393 102 13,071 393 13,464 (1,873 ) 2013 South Holland, IL — 3,900 714 — 3,900 714 4,614 (853 ) 2013 Shreveport, LA — 6,265 1,804 145 6,410 1,804 8,214 (1,208 ) 2015 Simpsonville, SC — 2,960 957 1,063 4,023 957 4,980 (691 ) 2012 Simpsonville, SC — 3,418 470 948 4,366 470 4,836 (719 ) 2012 Simpsonville, SC — 24,200 1,454 — 24,200 1,454 25,654 (65 ) 2018 Smithfield, NC — 10,657 613 72 10,729 613 11,342 (1,147 ) 2011 Smyrna, GA — 3,286 264 45 3,331 264 3,595 (723 ) 2012 South Bend, IN — 4,834 411 294 5,128 411 5,539 (937 ) 2012 Franklin Township, NJ — 8,322 2,272 — 8,322 2,272 10,594 (891 ) 2017 Sparks, NV — 6,328 938 977 7,305 938 8,243 (697 ) 2017 Spartanburg, SC — 15,100 1,867 166 15,266 1,867 17,133 (1,603 ) 2016 Spartanburg, SC — 3,694 342 685 4,379 342 4,721 (728 ) 2014 Spartanburg, SC — 5,797 493 685 6,482 493 6,975 (1,202 ) 2012 Stafford, TX — 6,570 339 — 6,570 339 6,909 (242 ) 2017 Statham, GA — 6,130 588 1,151 7,281 588 7,869 (1,213 ) 2012 Sterling Heights, MI (1,437 ) 4,191 1,133 415 4,606 1,133 5,739 (818 ) 2012 Stone Mountain, GA — 2,738 612 658 3,396 612 4,008 (240 ) 2017 Stoughton, MA — 2,613 2,256 824 3,437 2,256 5,693 (1,012 ) 2015 Stoughton, MA — 1,216 538 — 1,216 538 1,754 (345 ) 2015 South Saint Paul, MN — 14,975 2,378 329 15,304 2,378 17,682 (368 ) 2018 Streetsboro, OH — 5,481 2,161 214 5,695 2,161 7,856 (1,607 ) 2011 Strongsville, OH — 5,853 491 574 6,427 491 6,918 (962 ) 2014 Sun Prairie, WI — 5,809 2,360 2,499 8,308 2,360 10,668 (1,732 ) 2011 Swedesboro, NJ — 5,129 1,212 — 5,129 1,212 6,341 (297 ) 2017 Toledo, OH — 6,831 213 — 6,831 213 7,044 (1,418 ) 2012 Troutman, NC — 13,392 802 — 13,392 802 14,194 (171 ) 2018 Libertyville, IL — — 369 2 2 369 371 — 2015 Libertyville, IL — — 397 2 2 397 399 — 2015 Tucson, AZ — 8,037 996 — 8,037 996 9,033 (28 ) 2018 Tulsa, OK — 8,242 966 — 8,242 966 9,208 (976 ) 2015 Twinsburg, OH — 8,027 590 — 8,027 590 8,617 (1,996 ) 2007 Initial Cost to STAG Industrial, Inc. Gross Amounts at Which Carried at December 31, 2018 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 Vonore, TN — 8,243 2,355 85 8,328 2,355 10,683 (1,971 ) 2011 Waco, TX — 1,394 — 619 2,013 — 2,013 (382 ) 2011 West Allis, WI — 1,905 462 371 2,276 462 2,738 (402 ) 2015 West Allis, WI — 1,860 444 24 1,884 444 2,328 (248 ) 2015 West Allis, WI — 929 252 176 1,105 252 1,357 (208 ) 2015 West Allis, WI — 1,039 251 — 1,039 251 1,290 (201 ) 2015 Walker, MI — 4,872 855 169 5,041 855 5,896 (1,220 ) 2011 Wallingford, CT — 6,111 585 — 6,111 585 6,696 (403 ) 2017 Walton, KY — 6,244 2,105 — 6,244 2,105 8,349 (517 ) 2017 Warrendale, PA — 12,111 1,853 — 12,111 1,853 13,964 (35 ) 2018 Ware Shoals, SC (236 ) 197 133 — 197 133 330 (40 ) 2012 Warren, MI — 6,111 502 10 6,121 502 6,623 (543 ) 2017 Warren, MI — 16,035 1,290 — 16,035 1,290 17,325 (1,415 ) 2016 Waukegan, IL — 5,140 1,004 — 5,140 1,004 6,144 (386 ) 2017 West Chester, OH — 8,868 936 — 8,868 936 9,804 (685 ) 2016 West Chicago, IL — 2,036 768 772 2,808 768 3,576 (266 ) 2016 West Chicago, IL — 674 382 282 956 382 1,338 (113 ) 2016 West Chicago, IL — 768 450 272 1,040 450 1,490 (131 ) 2016 West Chicago, IL — 895 369 269 1,164 369 1,533 (160 ) 2016 West Chicago, IL — 904 216 276 1,180 216 1,396 (114 ) 2016 West Chicago, IL — 6,247 915 969 7,216 915 8,131 (912 ) 2016 West Columbia, SC — 9,570 488 — 9,570 488 10,058 (732 ) 2016 West Columbia, SC — 9,151 240 348 9,499 240 9,739 (347 ) 2017 West Columbia, SC — 4,646 551 2,301 6,947 551 7,498 (641 ) 2016 Westborough, MA — 5,808 661 23 5,831 661 6,492 (474 ) 2016 White Marsh, MD — 4,601 963 — 4,601 963 5,564 (53 ) 2018 Wichita, KS (1,438 ) 1,815 88 11 1,826 88 1,914 (315 ) 2012 Wichita, KS (1,570 ) 1,839 107 131 1,970 107 2,077 (382 ) 2012 Wichita, KS (719 ) 833 76 181 1,014 76 1,090 (230 ) 2012 Williamsport, PA — 9,059 688 — 9,059 688 9,747 (1,632 ) 2013 Winston-Salem, NC — 11,054 610 16 11,070 610 11,680 (1,827 ) 2014 Wood Dale, IL — 5,042 1,226 — 5,042 1,226 6,268 (383 ) 2016 Woodstock, IL — 3,796 496 — 3,796 496 4,292 (774 ) 2012 York, PA — 14,538 2,152 207 14,745 2,152 16,897 (790 ) 2017 York, PA — 15,049 966 — 15,049 966 16,015 (474 ) 2018 Yorkville, WI — 4,893 416 323 5,216 416 5,632 (609 ) 2014 Bardstown, KY — 2,398 379 — 2,398 379 2,777 (745 ) 2007 Youngsville, NC — 16,150 1,832 — 16,150 1,832 17,982 (215 ) 2018 Total $ (57,011 ) $ 2,481,484 $ 364,023 $ 121,109 $ 2,602,593 $ 364,023 $ 2,966,616 $ (316,930 ) (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 $0.5 million . (2) The initial costs of building and improvements is the acquisition costs less asset impairment write-downs, building expansions and disposals of building and tenant improvements. (3) Depreciation expense is computed using the straight-line method based on the following estimated useful lives: Description Estimated Useful Life 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, 2018 , the aggregate cost for federal income tax purposes of investments in real estate was approximately $3.7 billion . Year ended December 31, 2018 2017 2016 Real Estate: Balance at beginning of period $ 2,524,112 $ 2,009,716 $ 1,711,612 Additions during period Other acquisitions 565,645 514,725 381,131 Improvements, etc. 34,458 53,099 33,133 Other additions — — — Deductions during period Cost of real estate sold (150,692 ) (48,674 ) (97,342 ) Write-off of tenant improvements (1,334 ) (2,166 ) (2,585 ) Asset impairments and involuntary conversion (5,573 ) (2,588 ) (16,233 ) Balance at the end of the period including assets held for sale $ 2,966,616 $ 2,524,112 $ 2,009,716 Assets held for sale — (20,731 ) — Balance at the end of the period excluding assets held for sale 2,966,616 2,503,381 2,009,716 Accumulated Depreciation: Balance at beginning of period $ 251,943 $ 187,413 $ 147,917 Additions during period Depreciation and amortization expense 90,320 75,314 57,391 Other additions — — — Deductions during period Disposals (25,333 ) (10,784 ) (17,895 ) Balance at the end of the period including assets held for sale $ 316,930 $ 251,943 $ 187,413 Assets held for sale — (2,886 ) — Balance at the end of the period excluding assets held for sale $ 316,930 $ 249,057 $ 187,413

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
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	New Accounting Standards Adopted 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 the Company adopted this standard effective January 1, 2018 using the modified retrospective transition method. The adoption of this standard resulted in a cumulative effect adjustment of approximately $0.3 million recorded as an increase to cumulative dividends in excess of earnings and an increase to accumulated other comprehensive income as of January 1, 2018 in the accompanying Consolidated Statements of Equity. 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, and the Company adopted this standard prospectively effective January 1, 2018. The adoption of this standard did not have a material effect on the Company's consolidated financial statements. 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 was 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, which the Company adopted effective January 1, 2018. The Company adopted this standard effective January 1, 2018 using the modified retrospective approach. 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, and the Company adopted this standard prospectively effective January 1, 2018. As a result, it is expected that the majority of the Company's acquisitions will be accounted for as asset acquisitions, whereas under the former guidance the majority of the Company's acquisitions had been accounted for as business combinations. The most significant difference between the two accounting models that impacts 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. 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 the Company adopted this standard effective January 1, 2018. As a result, the Company has included restricted cash with cash and cash equivalents when reconciling the beginning and end of period total amounts on the accompanying Consolidated Statements of Cash Flows. The effects of this standard were applied retrospectively to all prior periods presented. For the year ended December 31, 2017 , the effect of the change in accounting principle was a decrease in cash provided by operating activities of approximately $0.5 million and an increase in cash used in investing activities of approximately $5.6 million on the accompanying Consolidated Statements of Cash Flows. For the year ended December 31, 2016 , the effect of the change in accounting principle was an increase in cash provided by operating activities of approximately $0.4 million and a decrease in cash used in investing activities of approximately $0.9 million on the accompanying Consolidated Statements of Cash Flows. 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, and the Company adopted this standard prospectively effective January 1, 2018. The adoption of this standard did not have a material effect on the Company's consolidated financial statements, as its only effect was related to certain disclosures in the notes to the consolidated financial statements. 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. Additionally, the new revenue guidance requires improved disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted this standard effective January 1, 2018 using the modified retrospective approach. The adoption of this standard did not have a material effect on the Company's consolidated financial statements. New Accounting Standards Issued but not yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , and various subsequent ASU’s, 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 the modified retrospective transition method by recognizing a cumulative effect adjustment to the opening balance of cumulative dividends in excess of earnings, by either applying the new guidance at the beginning of the earliest comparative period or by applying the new guidance at the adoption date. The Company intends to adopt available practical expedients which allows the Company to 1) not reassess whether any expired or existing contracts are or contain leases; 2) not reassess the lease classification for any expired or existing leases; and 3) not reassess initial direct costs for any existing leases. Upon the Company's adoption of ASU 2016-02 on January 1, 2019, the Company expects to record a right of use asset of approximately $16 million and a related lease liability of approximately $18 million on the accompanying Consolidated Balance Sheets. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which the Company adopted on January 1, 2018, as discussed in “New Accounting Standards Adopted” above. Lease contracts with customers, which constitute a vast majority of the Company’s revenues, are specifically excluded from the model’s scope. However, once the new leases standard under ASU 2016-02 is adopted by the Company, 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 may be different. In July 2018, the FASB issued ASU 2018-11 which amends Topic 842, Leases , and provides lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component and, instead, to account for those components as a single component if the non-lease components otherwise would be accounted for under the new revenue guidance and both of the following are met: i) the timing and pattern of transfer of the non-lease component(s) and associated lease component are the same; and ii) the lease component, if accounted for separately, would be classified as an operating lease. Under this new expedient, if the non-lease components associated with the lease component are the predominant component of the combined component, a company should account for the combined component in accordance with Topic 606. Otherwise, the company should account for the combined component as an operating lease in accordance with Topic 842. In December 2018, the FASB issued ASU 2018-20 which amends Topic 842, Leases , and allows lessors to continue to exclude from revenue the lessor costs that are paid by lessees directly to third parties. The Company plans to adopt the standard using the practical expedient, and the adoption of ASU 2016-02 on January 1, 2019 is not expected to materially impact the Company's consolidated financial statements.
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, with depreciation 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.
Rental Property Held for Sale	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 or asset acquisitions 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 fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. 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 and deferred leasing intangible liabilities 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 is based in part on assumptions regarding anticipated hold period, future occupancy, rental rates, capital requirements, and exit capitalization rates that could differ from actual results. The discount rate used to present value the cash flows for determining fair value is also subjective.
Depreciation and Amortization	Depreciation expense is computed using the straight-line method based on the following estimated useful lives. Description Estimated Useful Life 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, cash held in escrow for real estate taxes and capital improvements as required in various mortgage note agreements, and cash held by the Company’s transfer agent for preferred stock dividends that are distributed subsequent to period end. Restricted cash may also include cash held by qualified intermediaries to facilitate a like-kind exchange of real estate under Section 1031 of the Code. The following table presents a reconciliation of cash and cash equivalents and restricted cash reported on the accompanying Consolidated Balance Sheets to amounts reported on the accompanying Consolidated Statements of Cash Flows. Reconciliation of cash and cash equivalents and restricted cash (in thousands) December 31, 2018 December 31, 2017 Cash and cash equivalents $ 7,968 $ 24,562 Restricted cash 14,574 3,567 Total cash and cash equivalents and restricted cash $ 22,542 $ 28,129
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 carrying 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 written off 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, 2018 .
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. See Note 4 for the fair value of the Company’s indebtedness. See Note 5 for the fair value 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 on the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity. 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 may not be taxable.
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 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 $15.0 million , $12.4 million and $10.9 million for the years ended December 31, 2018 , 2017 and 2016 , 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 derecognition of a rental property and the corresponding recognition of gain on the sales of rental property, net is measured by various criteria related to the terms of the sale transaction, and if the Company has lost control of the property and the acquirer has gained control of the property after the transaction. If the derecognition criteria is met, the full gain is recognized.
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. As a REIT, the Company is generally not subject to corporate level federal 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 $0.1 million , $0.4 million and $0.1 million , for the years ended December 31, 2018 , 2017 and 2016 , respectively, which has been included on the accompanying Consolidated Statements of Operations. The following table reconciles net income to taxable income for the years ended December 31, 2018 , 2017 and 2016 . Year ended December 31, Reconciliation of Net Income to Taxable Income (in thousands) 2018 2017 2016 Net income $ 96,245 $ 32,200 $ 35,588 Book/tax differences from depreciation and amortization 82,392 80,416 66,763 Above/below market lease amortization 4,164 4,583 6,213 Loss on impairments 6,182 1,879 16,845 Book/tax difference on termination income (134 ) (786 ) 678 Book/tax difference on property acquisition costs — 5,262 4,498 Book/tax difference on extinguishment of debt — 15 (17 ) Book/tax difference on accrued bonus payment (50 ) 745 1,170 Book/tax difference on bad debt expense 660 (91 ) 83 Book/tax difference on non-cash compensation 3,857 6,270 7,188 Book/tax difference on gain on the sales of rental property, net (43,471 ) (26,134 ) (53,580 ) Straight-line rent adjustments, net (11,029 ) (6,689 ) (2,495 ) Book/tax difference on non-cash portion of interest expense 2,316 1,897 1,631 Book/tax difference on prepaid rent of Sec. 467 leases 545 (122 ) (274 ) Book/tax difference on gain on involuntary conversion — (325 ) — Other book/tax differences, net 257 465 284 Loss attributable to noncontrolling interest (5,286 ) (4,572 ) (4,069 ) Taxable income subject to distribution requirement (1) $ 136,648 $ 95,013 $ 80,506 (1) The Company distributed in excess of 100% of its taxable income to its stockholders during the years ended December 31, 2018 , 2017 and 2016 , 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 $0.9 million , $1.0 million and $1.0 million have been recorded in other expenses on the accompanying Consolidated Statements of Operations for the years ended December 31, 2018 , 2017 and 2016 , 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, 2018 , 2017 and 2016 , 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. Basic net income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income per common share is computed by dividing net income available to common stockholders by the sum of the weighted average number of common shares outstanding and any dilutive securities for the period.
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.
Concentrations of Credit Risk	Concentrations of Credit Risk Concentrations of credit risk relevant to the Company may arise when a number of financing arrangements, including revolving credit facilities or derivatives, are entered into with the same lenders or counterparties, and have similar economic features that would cause their inability to meet contractual obligations. The Company mitigates the concentration of credit risk as it relates to financing arrangements by entering into loan syndications with multiple, reputable financial institutions and diversifying its debt counterparties. The Company also reduces exposure by diversifying its derivatives across multiple counterparties who meet established credit and capital guidelines. Concentrations of credit risk may also arise when the Company enters into leases with multiple tenants concentrated in the same industry, or into a significant lease or multiple leases with a single tenant, or tenants are located in the same geographic region, or have similar economic features that would cause their inability to meet contractual obligations, including those to the Company, to be similarly affected. The Company regularly monitors its tenant base to assess potential concentrations of credit risk through financial statement review, tenant management calls, and press releases. Management believes the current credit risk portfolio is reasonably well diversified and does not contain any unusual concentration of credit risk.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of estimated useful lives of PP&E	Depreciation expense is computed using the straight-line method based on the following estimated useful lives. Description Estimated Useful Life Building 40 Years Building and land improvements Up to 20 years Tenant improvements Shorter of useful life or terms of related lease
Schedule of Cash, Cash Equivalents and Restricted Cash	The following table presents a reconciliation of cash and cash equivalents and restricted cash reported on the accompanying Consolidated Balance Sheets to amounts reported on the accompanying Consolidated Statements of Cash Flows. Reconciliation of cash and cash equivalents and restricted cash (in thousands) December 31, 2018 December 31, 2017 Cash and cash equivalents $ 7,968 $ 24,562 Restricted cash 14,574 3,567 Total cash and cash equivalents and restricted cash $ 22,542 $ 28,129
Schedule of tax treatment of common dividends per share for federal income tax	The tax treatment of dividends per common share for federal income tax purposes is as follows. Year ended December 31, 2018 2017 2016 Federal Income Tax Treatment of Dividends per Common Share Per Share % Per Share % Per Share % Ordinary income $ 1.051783 74.1 % $ 0.965483 68.8 % $ 0.944038 68.0 % Return of capital 0.133170 9.4 % 0.437852 31.2 % 0.445125 32.0 % Unrecaptured section 1250 capital gain 0.110647 7.8 % — — % — — % Other capital gain 0.123563 8.7 % — — % — — % Total (1) $ 1.419163 100.0 % $ 1.403335 100.0 % $ 1.389163 100.0 % (1) 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 was included in the stockholder’s 2018 tax year. The December 2018 monthly common stock dividend of $0.118333 per share will be included in the stockholder’s 2019 tax year. The tables below set forth the dividends attributable to the Company's outstanding shares of common stock that were declared during the years ended December 31, 2018 and 2017 . 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 2018 Declaration Date Record Date Per Share Payment Date December 31 October 10, 2018 December 31, 2018 $ 0.118333 January 15, 2019 November 30 October 10, 2018 November 30, 2018 0.118333 December 17, 2018 October 31 October 10, 2018 October 31, 2018 0.118333 November 15, 2018 September 30 July 11, 2018 September 28, 2018 0.118333 October 15, 2018 August 31 July 11, 2018 August 31, 2018 0.118333 September 17, 2018 July 31 July 11, 2018 July 31, 2018 0.118333 August 15, 2018 June 30 April 10, 2018 June 29, 2018 0.118333 July 16, 2018 May 31 April 10, 2018 May 31, 2018 0.118333 June 15, 2018 April 30 April 10, 2018 April 30, 2018 0.118333 May 15, 2018 March 31 November 2, 2017 March 29, 2018 0.118333 April 16, 2018 February 28 November 2, 2017 February 28, 2018 0.118333 March 15, 2018 January 31 November 2, 2017 January 31, 2018 0.118333 February 15, 2018 Total $ 1.419996 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 On January 10, 2019 , the Company’s board of directors declared the common stock dividends for the months ending January 31, 2019, February 28, 2019 and March 31, 2019 at a monthly rate of $0.119167 per share of common stock. The tables below set forth the dividends attributable to the Company's preferred stock issuances during the years ended December 31, 2018 and 2017 . Quarter Ended 2018 Declaration Date Series B Series C Payment Date December 31 October 10, 2018 $ — $ 0.4296875 December 31, 2018 September 30 July 11, 2018 0.0460069 (1) 0.4296875 October 1, 2018 June 30 April 10, 2018 0.4140625 0.4296875 July 2, 2018 March 31 February 14, 2018 0.4140625 0.4296875 April 2, 2018 Total $ 0.8741319 $ 1.7187500 (1) On June 11, 2018, the Company gave notice to redeem all 2,800,000 issued and outstanding shares of the Series B Preferred Stock. On July 11, 2018, the Company redeemed all of the Series B 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. Quarter Ended 2017 Declaration Date Series B Preferred Stock Per Share Series C Preferred Stock Per Share 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 On January 10, 2019 , the Company’s board of directors declared the Series C Preferred Stock dividend for the quarter ending March 31, 2019 at a quarterly rate of $0.4296875 per share.
Schedule of reconciliation of net income (loss) to taxable income	The following table reconciles net income to taxable income for the years ended December 31, 2018 , 2017 and 2016 . Year ended December 31, Reconciliation of Net Income to Taxable Income (in thousands) 2018 2017 2016 Net income $ 96,245 $ 32,200 $ 35,588 Book/tax differences from depreciation and amortization 82,392 80,416 66,763 Above/below market lease amortization 4,164 4,583 6,213 Loss on impairments 6,182 1,879 16,845 Book/tax difference on termination income (134 ) (786 ) 678 Book/tax difference on property acquisition costs — 5,262 4,498 Book/tax difference on extinguishment of debt — 15 (17 ) Book/tax difference on accrued bonus payment (50 ) 745 1,170 Book/tax difference on bad debt expense 660 (91 ) 83 Book/tax difference on non-cash compensation 3,857 6,270 7,188 Book/tax difference on gain on the sales of rental property, net (43,471 ) (26,134 ) (53,580 ) Straight-line rent adjustments, net (11,029 ) (6,689 ) (2,495 ) Book/tax difference on non-cash portion of interest expense 2,316 1,897 1,631 Book/tax difference on prepaid rent of Sec. 467 leases 545 (122 ) (274 ) Book/tax difference on gain on involuntary conversion — (325 ) — Other book/tax differences, net 257 465 284 Loss attributable to noncontrolling interest (5,286 ) (4,572 ) (4,069 ) Taxable income subject to distribution requirement (1) $ 136,648 $ 95,013 $ 80,506 (1) The Company distributed in excess of 100% of its taxable income to its stockholders during the years ended December 31, 2018 , 2017 and 2016 , respectively.

Rental Property (Tables)

Rental Property (Tables)	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Schedule of components of rental property	The following table summarizes the components of rental property, net as of December 31, 2018 and 2017 . Rental Property, net (in thousands) December 31, 2018 December 31, 2017 Land $ 364,023 $ 321,560 Buildings, net of accumulated depreciation of $199,497 and $160,281, respectivel y 2,082,781 1,756,579 Tenant improvements, net of accumulated depreciation of $36,450 and $32,714, respectively 30,704 30,138 Building and land improvements, net of accumulated depreciation of $80,983 and $56,062, respectivel y 168,229 143,170 Construction in progress 3,949 2,877 Deferred leasing intangibles, net of accumulated amortization of $246,502 and $280,642, respectively 342,015 313,253 Total rental property, net $ 2,991,701 $ 2,567,577
Schedule of rental property acquired	The following tables summarize the acquisitions of the Company during the years ended December 31, 2018 and 2017 . Year ended December 31, 2018 Market (1) Date Acquired Square Feet Buildings Purchase Price Greenville/Spartanburg, SC January 11, 2018 203,000 1 $ 10,755 Minneapolis/St Paul, MN January 26, 2018 145,351 1 13,538 Philadelphia, PA February 1, 2018 278,582 1 18,277 Houston, TX February 22, 2018 242,225 2 22,478 Greenville/Spartanburg, SC March 30, 2018 222,710 1 13,773 Three months ended March 31, 2018 1,091,868 6 78,821 Chicago, IL April 23, 2018 169,311 2 10,975 Milwaukee/Madison, WI April 26, 2018 53,680 1 4,316 Pittsburgh, PA April 30, 2018 175,000 1 15,380 Detroit, MI May 9, 2018 274,500 1 19,328 Minneapolis/St Paul, MN May 15, 2018 509,910 2 26,983 Cincinnati/Dayton, OH May 23, 2018 158,500 1 7,317 Baton Rouge, LA May 31, 2018 279,236 1 21,379 Las Vegas, NV June 12, 2018 122,472 1 17,920 Greenville/Spartanburg, SC June 15, 2018 131,805 1 5,621 Denver, CO June 18, 2018 64,750 1 7,044 Cincinnati/Dayton, OH June 25, 2018 465,136 1 16,421 Charlotte, NC June 29, 2018 69,200 1 5,446 Houston, TX June 29, 2018 252,662 1 27,170 Three months ended June 30, 2018 2,726,162 15 185,300 Knoxville, TN July 10, 2018 106,000 1 6,477 Pittsburgh, PA August 2, 2018 265,568 1 19,186 Raleigh/Durham, NC August 2, 2018 365,000 1 21,067 Detroit, MI August 6, 2018 439,150 1 21,077 Des Moines, IA August 8, 2018 121,922 1 6,053 McAllen/Edinburg/Pharr, TX August 9, 2018 270,084 1 18,523 Pittsburgh, PA August 15, 2018 200,500 1 11,327 Minneapolis/St Paul, MN August 24, 2018 120,606 1 8,422 Milwaukee/Madison, WI September 28, 2018 100,800 1 7,484 Milwaukee/Madison, WI September 28, 2018 174,633 2 13,288 Chicago, IL September 28, 2018 105,637 1 6,368 Indianapolis, IN September 28, 2018 478,721 1 29,085 Augusta/Richmond County, GA September 28, 2018 203,726 1 9,379 Charlotte, NC September 28, 2018 301,000 1 16,807 Three months ended September 30, 2018 3,253,347 15 194,543 Greensboro/Winston-Salem, NC October 22, 2018 128,287 1 8,376 Minneapolis/St Paul, MN October 22, 2018 109,444 1 8,064 Baltimore, MD October 23, 2018 60,000 1 7,538 Greenville/Spartanburg, SC November 7, 2018 210,891 1 11,289 Philadelphia, PA November 19, 2018 101,869 1 7,074 Detroit, MI (2) November 26, 2018 — — 620 Milwaukee/Madison, WI December 3, 2018 162,230 1 14,132 Pittsburgh, PA December 11, 2018 119,161 1 15,502 Tucson, AZ December 13, 2018 129,047 1 10,075 Detroit, MI December 14, 2018 285,306 2 20,095 Greenville/Spartanburg, SC December 17, 2018 726,500 1 28,995 Milwaukee/Madison, WI December 18, 2018 288,201 2 14,586 Milwaukee/Madison, WI December 19, 2018 112,144 1 5,349 Chicago, IL December 19, 2018 195,415 1 16,134 Indianapolis, IN December 20, 2018 446,500 1 33,314 Pittsburgh, PA December 20, 2018 179,394 1 16,725 Three months ended December 31, 2018 3,254,389 17 217,868 Year ended December 31, 2018 10,325,766 53 $ 676,532 (1) As defined by CoStar Realty Information Inc. If the building is located outside of a CoStar defined market, the city and state is reflected. (2) The Company acquired a vacant land parcel. Year ended December 31, 2017 Market (1) Date Acquired Square Feet Buildings Purchase Price Jacksonville, FL January 17, 2017 1,025,720 4 $ 34,264 Reno/Sparks, NV January 20, 2017 174,763 1 8,380 Charlotte, NC January 26, 2017 288,000 1 8,250 Northern New Jersey, NJ January 31, 2017 183,000 1 12,800 Westchester/So Connecticut, NY/CT February 23, 2017 200,000 1 12,762 Cleveland, OH March 10, 2017 173,034 1 7,622 Detroit, MI March 20, 2017 290,105 2 15,709 Three months ended March 31, 2017 2,334,622 11 99,787 Chicago, IL April 11, 2017 261,075 2 13,850 Greenville/Spartanburg, SC April 20, 2017 226,968 1 7,200 Cincinnati/Dayton, OH May 4, 2017 569,966 1 29,750 Chicago, IL May 10, 2017 336,204 1 22,867 San Diego, CA May 31, 2017 205,440 1 19,362 Kansas City, MO June 1, 2017 270,869 1 16,270 Philadelphia, PA June 6, 2017 245,749 1 16,000 Cincinnati/Dayton, OH June 6, 2017 224,921 1 11,450 Charlotte, NC June 8, 2017 275,000 1 6,675 Laredo, TX June 13, 2017 206,810 1 13,500 Pittsburgh, PA June 16, 2017 297,200 1 23,650 Chicago, IL June 26, 2017 102,500 1 5,900 Westchester/So Connecticut, NY/CT June 27, 2017 105,000 1 8,200 Dallas/Ft Worth, TX June 28, 2017 389,546 1 28,600 Houston, TX June 29, 2017 232,800 3 25,000 Philadelphia, PA June 29, 2017 211,358 1 7,950 Minneapolis/St Paul, MN June 29, 2017 108,628 1 10,031 Detroit, MI June 30, 2017 303,760 1 19,351 Three months ended June 30, 2017 4,573,794 21 285,606 Atlanta, GA August 2, 2017 78,000 1 4,175 Philadelphia, PA September 6, 2017 382,886 1 18,981 Philadelphia, PA September 7, 2017 437,446 1 23,950 St. Louis, MO September 25, 2017 109,854 1 5,740 Detroit, MI September 29, 2017 160,464 1 8,641 Columbus, OH September 29, 2017 468,302 2 20,597 Las Vegas, NV September 29, 2017 34,916 1 4,642 Charlotte, NC September 29, 2017 499,200 1 25,750 Philadelphia, PA September 29, 2017 123,962 1 7,250 Three months ended September 30, 2017 2,295,030 10 119,726 Omaha/Council Bluffs, NE-IA October 23, 2017 90,000 1 6,600 Columbus, OH November 2, 2017 237,500 1 8,717 Greenville/Spartanburg, SC November 22, 2017 264,385 1 18,200 Columbia, SC November 29, 2017 200,000 1 10,000 Phoenix, AZ December 11, 2017 186,643 1 16,500 El Paso, TX December 18, 2017 498,382 2 16,850 Houston, TX December 18, 2017 68,300 1 8,100 Boston, MA December 27, 2017 86,000 1 8,125 Milwaukee/Madison, WI December 28, 2017 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 (1) As defined by CoStar Realty Information Inc. If the building is located outside of a CoStar defined market, the city and state is reflected.
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, 2018 and 2017 , for the acquired assets and liabilities in connection with the acquisitions identified in the tables above. Year ended December 31, 2018 Year ended December 31, 2017 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 $ 59,974 N/A $ 59,004 N/A Buildings 465,272 N/A 413,829 N/A Tenant improvements 6,684 N/A 10,044 N/A Building and land improvements 33,715 N/A 31,848 N/A Deferred leasing intangibles - In-place leases 77,803 9.0 62,493 8.3 Deferred leasing intangibles - Tenant relationships 32,448 11.9 27,056 10.8 Deferred leasing intangibles - Above market leases 10,372 10.6 14,375 10.6 Deferred leasing intangibles - Below market leases (10,110 ) 8.1 (5,222 ) 8.5 Deferred leasing intangibles - Above market ground leases (178 ) 48.1 (916 ) 49.0 Other assets 794 N/A — N/A Other liabilities (242 ) N/A — N/A Total purchase price $ 676,532 $ 612,511
Schedule of pro forma information for acquired properties	The table below sets forth the results of operations for the years ended December 31, 2018 and 2017 for the properties acquired during the years ended December 31, 2018 and 2017 , included in the Company’s Consolidated Statements of Operations from the date of acquisition. Results of Operations (in thousands) Year ended December 31, 2018 Year ended December 31, 2017 Total revenue $ 22,099 $ 27,918 Property acquisition costs $ — $ 5,181 Net income (loss) $ 4,245 $ (1,473 )
Impaired Assets to be Disposed of by Method Other than Sale [Table Text Block]	The following table summarizes the Company's loss on impairments for assets held and used during the year s ended December 31, 2018 , 2017 and 2016 . Market (1) Buildings Event or Change in Circumstance Leading to Impairment Evaluation (2) Valuation technique utilized to estimate fair value Fair Value (3) Loss on Impairments (in thousands) Buena Vista, VA 1 Change in estimated hold period (4) Discounted cash flows (5) Sergeant Bluff, IA 1 Change in estimated hold period (4) Discounted cash flows (5) Three months ended March 31, 2018 $ 3,176 $ 2,934 Chicago, IL 1 Change in estimated hold period Discounted cash flows (6) Cleveland, OH 1 Change in estimated hold period Discounted cash flows (6) Three months ended December 31, 2018 $ 4,322 $ 3,248 Year ended December 31, 2018 $ 7,498 $ 6,182 Cincinnati/Dayton, OH 1 Market leasing conditions (4) Discounted cash flows (7) Three months ended December 31, 2017 $ 1,543 $ 1,879 Year ended December 31, 2017 $ 1,543 $ 1,879 Fairfield, VA 1 Change in estimated hold period (8) Purchase and sale agreement Jackson, MS 1 Change in estimated hold period (8) Purchase and sale agreement Jackson, MS 1 Change in estimated hold period (8) Purchase and sale agreement South Bend/Mishawaka, IN 1 Market leasing conditions (8) Discounted cash flows (10) Philadelphia, PA 1 Market leasing conditions (4) Discounted cash flows (10) Cleveland, OH 2 Market leasing conditions Discounted cash flows (10) Baltimore, MD 2 Change in estimated hold period (9) Discounted cash flows (10) Three months ended June 30, 2016 $ 10,598 $ 11,231 Youngstown/Warren/Boardman, OH-PA 1 Change in estimated hold period (9) Discounted cash flows (11) West Michigan, MI 1 Change in estimated hold period (9) Discounted cash flows (11) Pensacola, FL 1 Change in estimated hold period Discounted cash flows (11) Three months ended December 31, 2016 $ 4,360 $ 5,614 Year ended December 31, 2016 $ 14,958 $ 16,845 (1) As defined by CoStar Realty Information Inc. If the building is located outside of a CoStar defined market, the city and state is reflected. (2) 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. (3) The estimated fair value of the property is based on Level 3 inputs and is a non-recurring fair value measurement. (4) This property was sold during the year ended December 31, 2018. (5) Level 3 inputs used to determine fair value for the properties impaired for the three months ended March 31, 2018: discount rates ranged from 11.0% to 14.5% and exit capitalization rates ranged from 11.0% to 13.0% . (6) Level 3 inputs used to determine fair value for the properties impaired for the three months ended December 31, 2018: discount rate of 12.0% and exit capitalization rates ranged from 8.3% to 12.0% . (7) 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% . (8) This property was sold during the year ended December 31, 2016 (9) This property was sold during the year ended December 31, 2017. (10) 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% . (11) 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% .
Schedule of Finite-Lived Intangible Assets and Below Market Leases	The following table summarizes the deferred leasing intangibles on the accompanying Consolidated Balance Sheets as of December 31, 2018 and 2017 . December 31, 2018 December 31, 2017 Deferred Leasing Intangibles (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Above market leases $ 73,122 $ (31,059 ) $ 42,063 $ 78,558 $ (36,810 ) $ 41,748 Other intangible lease assets 515,395 (215,443 ) 299,952 515,337 (243,832 ) 271,505 Total deferred leasing intangible assets $ 588,517 $ (246,502 ) $ 342,015 $ 593,895 $ (280,642 ) $ 313,253 Below market leases $ 34,331 $ (12,764 ) $ 21,567 $ 34,776 $ (13,555 ) $ 21,221 Total deferred leasing intangible liabilities $ 34,331 $ (12,764 ) $ 21,567 $ 34,776 $ (13,555 ) $ 21,221 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, 2018 , 2017 and 2016 . Year ended December 31, Deferred Leasing Intangibles Amortization (in thousands) 2018 2017 2016 Net decrease to rental income related to above and below market lease amortization $ 4,164 $ 4,583 $ 6,213 Amortization expense related to other intangible lease assets $ 74,370 $ 72,936 $ 66,291
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table sets forth the amortization of deferred leasing intangibles over the next five years as of December 31, 2018 . 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) 2019 $ 61,253 $ 3,853 2020 $ 51,241 $ 3,519 2021 $ 40,381 $ 2,194 2022 $ 32,486 $ 1,368 2023 $ 26,352 $ 1,413
Below Market Lease, Future Amortization Income	The following table sets forth the amortization of deferred leasing intangibles over the next five years as of December 31, 2018 . 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) 2019 $ 61,253 $ 3,853 2020 $ 51,241 $ 3,519 2021 $ 40,381 $ 2,194 2022 $ 32,486 $ 1,368 2023 $ 26,352 $ 1,413

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017 . Loan Principal Outstanding as of December 31, 2018 (in thousands) Principal Outstanding as of December 31, 2017 Interest (1) Maturity Date Prepayment Terms (2) Unsecured credit facility: Unsecured Credit Facility (3) $ 100,500 $ 271,000 L + 0.90% Jan-15-2023 i Total unsecured credit facility 100,500 271,000 Unsecured term loans: Unsecured Term Loan C 150,000 150,000 L + 1.00% Sep-29-2020 i Unsecured Term Loan B 150,000 150,000 L + 1.00% Mar-21-2021 i Unsecured Term Loan A 150,000 150,000 L + 1.00% Mar-31-2022 i Unsecured Term Loan D 150,000 — L + 1.00% Jan-04-2023 i Unsecured Term Loan E (4) — — L + 1.00% Jan-15-2024 i Total unsecured term loans 600,000 450,000 Less: Total unamortized deferred financing fees and debt issuance costs (3,640 ) (3,735 ) Total carrying value unsecured term loans, net 596,360 446,265 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 G Unsecured Notes 75,000 — 4.10 % Jun-13-2025 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 Series H Unsecured Notes 100,000 — 4.27 % Jun-13-2028 ii Total unsecured notes 575,000 400,000 Less: Total unamortized deferred financing fees and debt issuance costs (2,512 ) (1,766 ) Total carrying value unsecured notes, net 572,488 398,234 Mortgage notes (secured debt): Wells Fargo Bank, National Association CMBS Loan 53,216 54,949 4.31 % Dec-1-2022 iii Thrivent Financial for Lutherans 3,795 3,906 4.78 % Dec-15-2023 iv Total mortgage notes 57,011 58,855 Add: Total unamortized fair market value premiums 50 61 Less: Total unamortized deferred financing fees and debt issuance costs (501 ) (634 ) Total carrying value mortgage notes, net 56,560 58,282 Total / weighted average interest rate (5) $ 1,325,908 $ 1,173,781 3.56 % (1) Current interest rate as of December 31, 2018 . At December 31, 2018 , the one-month LIBOR (“L”) was 2.50269% . 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. The spread over the applicable rate for the Company's unsecured credit facility and unsecured term loans is based on the Company's debt rating, as defined in the respective loan agreements. (2) Prepayment terms consist of (i) pre-payable with no penalty; (ii) pre-payable with penalty; (iii) pre-payable without penalty three months prior to the maturity date, however can be defeased; and (iv) pre-payable without penalty three months prior to the maturity date. (3) The capacity of the unsecured credit facility is $500.0 million . Deferred financing fees and debt issuance costs, net of accumulated amortization related to the unsecured credit facility of approximately $3.2 million and $1.5 million are included in prepaid expenses and other assets on the accompanying Consolidated Balance Sheets as of December 31, 2018 and 2017 , respectively. (4) Capacity of $175.0 million , which the Company has until July 25, 2019 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, 2018 , 2017 and 2016 . Year ended December 31, Costs Included in Interest Expense (in thousands) 2018 2017 2016 Amortization of deferred financing fees and debt issuance costs and fair market value premiums $ 2,316 $ 2,087 $ 1,698 Facility, unused, and other fees $ 1,246 $ 1,169 $ 1,380
Schedule of aggregate carrying value of the debt and the corresponding estimate of fair value	December 31, 2018 and 2017 (in thousands). The fair value of the Company’s debt is based on Level 3 inputs. December 31, 2018 December 31, 2017 Principal Outstanding Fair Value Principal Outstanding Fair Value Unsecured credit facility $ 100,500 $ 100,500 $ 271,000 $ 271,528 Unsecured term loans 600,000 600,000 450,000 451,463 Unsecured notes 575,000 585,292 400,000 415,599 Mortgage notes 57,011 57,289 58,855 59,769 Total principal amount 1,332,511 $ 1,343,081 1,179,855 $ 1,198,359 Add: Total unamortized fair market value premiums 50 61 Less: Total unamortized deferred financing fees and debt issuance costs (6,653 ) (6,135 ) Total carrying value $ 1,325,908 $ 1,173,781
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, 2018 . Year Future Principal Payments of Debt (in thousands) 2019 $ 1,926 2020 152,006 2021 152,103 2022 197,681 2023 353,795 Thereafter 475,000 Total aggregate principal payments $ 1,332,511

Use of Derivative Financial I_2

Use of Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 . 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 $ 337 1.3300 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Jul-01-2013 $ 50,000 $ 478 1.6810 % One-month L Feb-14-2020 Capital One, N.A. Jun-13-2013 Aug-01-2013 $ 25,000 $ 233 1.7030 % One-month L Feb-14-2020 Regions Bank Sep-30-2013 Feb-03-2014 $ 25,000 $ 152 1.9925 % One-month L Feb-14-2020 The Toronto-Dominion Bank Oct-14-2015 Sep-29-2016 $ 25,000 $ 480 1.3830 % One-month L Sep-29-2020 PNC Bank, N.A. Oct-14-2015 Sep-29-2016 $ 50,000 $ 954 1.3906 % One-month L Sep-29-2020 Regions Bank Oct-14-2015 Sep-29-2016 $ 35,000 $ 671 1.3858 % One-month L Sep-29-2020 U.S. Bank, N.A. Oct-14-2015 Sep-29-2016 $ 25,000 $ 476 1.3950 % One-month L Sep-29-2020 Capital One, N.A. Oct-14-2015 Sep-29-2016 $ 15,000 $ 285 1.3950 % One-month L Sep-29-2020 Royal Bank of Canada Jan-08-2015 Mar-20-2015 $ 25,000 $ 408 1.7090 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Mar-20-2015 $ 25,000 $ 407 1.7105 % One-month L Mar-21-2021 The Toronto-Dominion Bank Jan-08-2015 Sep-10-2017 $ 100,000 $ 506 2.2255 % One-month L Mar-21-2021 Wells Fargo, N.A. Jan-08-2015 Mar-20-2015 $ 25,000 $ 469 1.8280 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jan-08-2015 Feb-14-2020 $ 25,000 $ (46 ) 2.4535 % One-month L Mar-31-2022 Regions Bank Jan-08-2015 Feb-14-2020 $ 50,000 $ (115 ) 2.4750 % One-month L Mar-31-2022 Capital One, N.A. Jan-08-2015 Feb-14-2020 $ 50,000 $ (171 ) 2.5300 % One-month L Mar-31-2022 The Toronto-Dominion Bank Jul-20-2017 Oct-30-2017 $ 25,000 $ 549 1.8485 % One-month L Jan-04-2023 Royal Bank of Canada Jul-20-2017 Oct-30-2017 $ 25,000 $ 549 1.8505 % One-month L Jan-04-2023 Wells Fargo, N.A. Jul-20-2017 Oct-30-2017 $ 25,000 $ 547 1.8505 % One-month L Jan-04-2023 PNC Bank, N.A. Jul-20-2017 Oct-30-2017 $ 25,000 $ 549 1.8485 % One-month L Jan-04-2023 PNC Bank, N.A. Jul-20-2017 Oct-30-2017 $ 50,000 $ 1,101 1.8475 % One-month L Jan-04-2023 The Toronto-Dominion Bank Jul-24-2018 Jul-26-2019 $ 50,000 $ (1,050 ) 2.9180 % One-month L Jan-12-2024 PNC Bank, N.A. Jul-24-2018 Jul-26-2019 $ 50,000 $ (1,055 ) 2.9190 % One-month L Jan-12-2024 Bank of Montreal Jul-24-2018 Jul-26-2019 $ 50,000 $ (1,050 ) 2.9190 % One-month L Jan-12-2024 U.S. Bank, N.A. Jul-24-2018 Jul-26-2019 $ 25,000 $ (524 ) 2.9190 % One-month L Jan-12-2024
Schedule of interest rate swaps	The fair value of the interest rate swaps outstanding as of December 31, 2018 and 2017 was as follows. Balance Sheet Line Item (in thousands) Notional Amount December 31, 2018 Fair Value December 31, 2018 Notional Amount December 31, 2017 Fair Value December 31, 2017 Interest rate swaps-Asset $ 600,000 $ 9,151 $ 475,000 $ 6,079 Interest rate swaps-Liability $ 300,000 $ (4,011 ) $ 250,000 $ (1,217 )
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	the years ended December 31, 2018 , 2017 and 2016 . Year ended December 31, Effect of Cash Flow Hedge Accounting (in thousands) 2018 2017 2016 Income (loss) recognized in accumulated other comprehensive income on interest rate swaps $ 1,687 $ 3,597 $ (2,244 ) Income (loss) reclassified from accumulated other comprehensive income into income as interest expense $ 1,377 $ (2,073 ) $ (3,142 ) Total interest expense presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded $ 48,817 $ 42,469 $ 42,923
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, 2018 and 2017 . Fair Value Measurements as of Balance Sheet Line Item (in thousands) Fair Value December 31, 2018 Level 1 Level 2 Level 3 Interest rate swaps-Asset $ 9,151 $ — $ 9,151 $ — Interest rate swaps-Liability $ (4,011 ) $ — $ (4,011 ) $ — 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 ) $ —

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class	The following table sets forth the Company's outstanding preferred stock issuances as of December 31, 2018 . Preferred Stock Issuances Issuance Date Number of Shares Liquidation Value Per Share Interest Rate Series C Preferred Stock March 17, 2016 3,000,000 $ 25.00 6.875 %
Schedule of dividends	The tax treatment of dividends per common share for federal income tax purposes is as follows. Year ended December 31, 2018 2017 2016 Federal Income Tax Treatment of Dividends per Common Share Per Share % Per Share % Per Share % Ordinary income $ 1.051783 74.1 % $ 0.965483 68.8 % $ 0.944038 68.0 % Return of capital 0.133170 9.4 % 0.437852 31.2 % 0.445125 32.0 % Unrecaptured section 1250 capital gain 0.110647 7.8 % — — % — — % Other capital gain 0.123563 8.7 % — — % — — % Total (1) $ 1.419163 100.0 % $ 1.403335 100.0 % $ 1.389163 100.0 % (1) 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 was included in the stockholder’s 2018 tax year. The December 2018 monthly common stock dividend of $0.118333 per share will be included in the stockholder’s 2019 tax year. The tables below set forth the dividends attributable to the Company's outstanding shares of common stock that were declared during the years ended December 31, 2018 and 2017 . 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 2018 Declaration Date Record Date Per Share Payment Date December 31 October 10, 2018 December 31, 2018 $ 0.118333 January 15, 2019 November 30 October 10, 2018 November 30, 2018 0.118333 December 17, 2018 October 31 October 10, 2018 October 31, 2018 0.118333 November 15, 2018 September 30 July 11, 2018 September 28, 2018 0.118333 October 15, 2018 August 31 July 11, 2018 August 31, 2018 0.118333 September 17, 2018 July 31 July 11, 2018 July 31, 2018 0.118333 August 15, 2018 June 30 April 10, 2018 June 29, 2018 0.118333 July 16, 2018 May 31 April 10, 2018 May 31, 2018 0.118333 June 15, 2018 April 30 April 10, 2018 April 30, 2018 0.118333 May 15, 2018 March 31 November 2, 2017 March 29, 2018 0.118333 April 16, 2018 February 28 November 2, 2017 February 28, 2018 0.118333 March 15, 2018 January 31 November 2, 2017 January 31, 2018 0.118333 February 15, 2018 Total $ 1.419996 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 On January 10, 2019 , the Company’s board of directors declared the common stock dividends for the months ending January 31, 2019, February 28, 2019 and March 31, 2019 at a monthly rate of $0.119167 per share of common stock. The tables below set forth the dividends attributable to the Company's preferred stock issuances during the years ended December 31, 2018 and 2017 . Quarter Ended 2018 Declaration Date Series B Series C Payment Date December 31 October 10, 2018 $ — $ 0.4296875 December 31, 2018 September 30 July 11, 2018 0.0460069 (1) 0.4296875 October 1, 2018 June 30 April 10, 2018 0.4140625 0.4296875 July 2, 2018 March 31 February 14, 2018 0.4140625 0.4296875 April 2, 2018 Total $ 0.8741319 $ 1.7187500 (1) On June 11, 2018, the Company gave notice to redeem all 2,800,000 issued and outstanding shares of the Series B Preferred Stock. On July 11, 2018, the Company redeemed all of the Series B 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. Quarter Ended 2017 Declaration Date Series B Preferred Stock Per Share Series C Preferred Stock Per Share 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 On January 10, 2019 , the Company’s board of directors declared the Series C Preferred Stock dividend for the quarter ending March 31, 2019 at a quarterly rate of $0.4296875 per share.
Schedule of stock sale activity	The following table sets forth the terms of the Company’s at-the market (“ATM”) common stock offering program as of December 31, 2018 . 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 $ 99,227 The table below sets forth the activity for the ATM common stock offering programs during the years ended December 31, 2018 and 2017 (in thousands, except share data). Year ended December 31, 2018 ATM Common Stock Offering Program Shares Weighted Average Price Per Share Gross Sales Net 2017 $500 million ATM 14,724,614 $ 26.52 $ 390,447 $ 4,040 $ 386,407 Total/weighted average 14,724,614 $ 26.52 $ 390,447 $ 4,040 $ 386,407 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) 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, 2018 , 2017 and 2016 . Unvested Restricted Shares of Common Stock Shares Balance at December 31, 2015 271,115 Granted 101,289 (1) Vested (98,746 ) (2) Forfeited (1,321 ) Balance at December 31, 2016 272,337 Granted 75,001 (1) Vested (109,209 ) (2) Forfeited (922 ) Balance at December 31, 2017 237,207 Granted 76,659 (1) Vested (112,405 ) (2) Forfeited (10,999 ) Balance at December 31, 2018 190,462 (1) The fair value per share on the grant date of January 5, 2018, January 6, 2017, and January 8, 2016 was $26.40 , $24.41 , and $17.98 , respectively. (2) The Company repurchased and retired 41,975 and 40,836 restricted shares of common stock that vested during the years ended December 31, 2018 and 2017 , respectively. The Company did not repurchase and retire any restricted shares of common stock during the year ended December 31, 2016.
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, 2018 , 2017 and 2016 . Year ended December 31, Vested Restricted Shares of Common Stock 2018 2017 2016 Vested restricted shares of common stock 112,405 109,209 98,746 Fair value of vested restricted shares of common stock (in thousands) $ 3,002 $ 2,591 $ 1,813 The table below sets forth the assumptions used in valuing the performance units granted during the years ended December 31, 2018 , 2017 and 2016 . Performance Units Assumptions Grant date January 5, 2018 January 6, 2017 March 8, 2016 Expected volatility 22.0 % 23.0 % 23.0 % Expected dividend yield 6.0 % 6.0 % 6.0 % Risk-free interest rate 2.09 % 1.61 % 1.08 % Fair value of performance units grant (in thousands) $ 5,456 $ 2,882 $ 2,614

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	12 Months Ended
	Dec. 31, 2018
Noncontrolling Interest [Abstract]
Noncontrolling interest activity	The table below summarizes the activity for noncontrolling interest in the Company for the years ended December 31, 2018 , 2017 and 2016 . Noncontrolling Interest LTIP Units Other Common Units Total Noncontrolling Common Units Noncontrolling Interest Percentage Balance at December 31, 2015 1,610,105 1,915,872 3,525,977 4.9 % Granted/Issued 176,396 — 176,396 N/A Forfeited — — — 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 Forfeited — — — 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 % Granted/Issued 324,802 — 324,802 N/A Forfeited — — — N/A Conversions from LTIP units to Other Common Units (165,672 ) 165,672 — N/A Redemptions from Other Common Units to common stock — (352,055 ) (352,055 ) N/A Balance at December 31, 2018 1,616,200 2,453,234 4,069,434 3.5 %
Schedule of share-based payment award, LTIP unit awards, valuation assumptions	The table below sets forth the assumptions used in valuing such LTIP units granted during years ended December 31, 2018 , 2017 and 2016 (excluding those vested LTIP units granted pursuant to the 2015 OPP; refer to Note 8 for details). LTIP Units Assumptions Grant date March 12, 2018 January 5, 2018 January 6, 2017 February 22, 2016 January 8, 2016 January 6, 2016 Expected term (years) 10 10 10 10 10 10 Expected volatility 22.0 % 22.0 % 23.0 % 22.0 % 22.0 % 22.0 % Expected dividend yield 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Risk-free interest rate 2.46 % 2.09 % 1.61 % 1.01 % 1.28 % 1.36 % Fair value of LTIP units at issuance (in thousands) $ 90 $ 3,447 $ 2,924 $ 277 $ 2,254 $ 390 LTIP units at issuance 3,930 137,616 126,239 18,386 135,546 22,464 Fair value unit price per LTIP unit at issuance $ 22.90 $ 25.05 $ 23.16 $ 15.07 $ 16.63 $ 17.36
Schedule of activity related to unvested LTIP unit awards	The following table summarizes activity related to the Company’s unvested LTIP units for the years ended December 31, 2018 , 2017 and 2016 . Unvested LTIP Units Units 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 Granted 324,802 Vested (373,893 ) Forfeited — Balance at December 31, 2018 251,216
Schedule of vested LTIP unit award activity	The following table summarizes the fair value at vesting date for the LTIP units vested during years ended December 31, 2018 , 2017 and 2016 . Year ended December 31, Vested LTIP units 2018 2017 2016 Vested LTIP units 373,893 229,355 307,883 Fair value of vested LTIP units (in thousands) $ 9,772 $ 6,101 $ 6,393

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 , 2017 and 2016 . Year ended December 31, Vested Restricted Shares of Common Stock 2018 2017 2016 Vested restricted shares of common stock 112,405 109,209 98,746 Fair value of vested restricted shares of common stock (in thousands) $ 3,002 $ 2,591 $ 1,813 The table below sets forth the assumptions used in valuing the performance units granted during the years ended December 31, 2018 , 2017 and 2016 . Performance Units Assumptions Grant date January 5, 2018 January 6, 2017 March 8, 2016 Expected volatility 22.0 % 23.0 % 23.0 % Expected dividend yield 6.0 % 6.0 % 6.0 % Risk-free interest rate 2.09 % 1.61 % 1.08 % Fair value of performance units grant (in thousands) $ 5,456 $ 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 director compensation for the years ended December 31, 2018 , 2017 and 2016 . Year ended December 31, Non-Cash Compensation Expense (in thousands) 2018 2017 2016 Restricted shares of common stock $ 1,698 $ 2,373 $ 2,157 LTIP units 3,546 4,675 6,089 (1) Performance-based Compensation Plans 3,298 2,147 1,137 Board of directors compensation (2) 380 352 346 Total non-cash compensation expense $ 8,922 $ 9,547 $ 9,729 (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, 2018 , 2017 and 2016 . 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, 2018
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, 2018 , 2017 and 2016 . Year ended December 31, Earnings Per Share (in thousands, except per share data) 2018 2017 2016 Numerator Net income $ 96,245 $ 32,200 $ 35,588 Less: preferred stock dividends 7,604 9,794 13,897 Less: redemption of preferred stock 2,661 — — Less: amount allocated to participating securities 276 334 384 Less: income attributable to noncontrolling interest after preferred stock dividends 3,319 941 1,069 Net income attributable to common stockholders $ 82,385 $ 21,131 $ 20,238 Denominator Weighted average common shares outstanding — basic 103,401 89,538 70,637 Effect of dilutive securities (1) Share-based compensation 406 466 216 Weighted average common shares outstanding — diluted 103,807 90,004 70,853 Net income per share — basic and diluted Net income per share attributable to common stockholders — basic $ 0.80 $ 0.24 $ 0.29 Net income per share attributable to common stockholders — diluted $ 0.79 $ 0.23 $ 0.29

Future Minimum Rents (Tables)

Future Minimum Rents (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 are approximately as follows. Year Future Minimum Rents (in thousands) 2019 $ 299,978 2020 $ 271,936 2021 $ 226,970 2022 $ 188,707 2023 $ 152,814 Thereafter $ 535,192 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, 2018 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) 2019 $ 2,110 2020 $ 2,122 2021 $ 1,227 2022 $ 935 2023 $ 944 Thereafter $ 45,580 (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, 2018
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, 2018 are approximately as follows. Year Future Minimum Rents (in thousands) 2019 $ 299,978 2020 $ 271,936 2021 $ 226,970 2022 $ 188,707 2023 $ 152,814 Thereafter $ 535,192 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, 2018 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) 2019 $ 2,110 2020 $ 2,122 2021 $ 1,227 2022 $ 935 2023 $ 944 Thereafter $ 45,580 (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 _2

Organization and Description of Business (Details) ft² in Millions	12 Months Ended
	Dec. 31, 2018ft²tenantstatebuilding	Dec. 31, 2017
Real Estate Properties [Line Items]
Ownership interest in Operating Partnership (as a percent)	96.50%	95.90%
Number of properties	390
Number of states in which the entity owned buildings | state	37
Area (in square feet) | ft²	76.8
Percentage of buildings leased to tenants	95.50%
Number of tenants | tenant	349
Warehouse - Distribution buildings
Real Estate Properties [Line Items]
Number of properties	323
Light Manufacturing buildings
Real Estate Properties [Line Items]
Number of properties	58
Office/Flex buildings
Real Estate Properties [Line Items]
Number of properties	9

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - New Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2019	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to accumulated other comprehensive income (loss)	$ 4,481	$ 3,936
Decrease in cash provided by operating activities	(197,769)	(162,098)	$ (135,788)
Increase in cash provided by operating activities	197,769	162,098	135,788
Decrease in cash used in investing activities	$ (507,201)	(571,635)	(346,259)
Accounting Standards Update 2016-18 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in cash provided by operating activities		500	(400)
Increase in cash provided by operating activities		(500)	400
Decrease in cash used in investing activities		$ (5,600)	$ 900
New Accounting Pronouncement, Early Adoption, Effect [Member] | Accounting Standards Update 2017-12 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to accumulated other comprehensive income (loss)					$ 300
Scenario, Forecast [Member] | Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance Lease, Right-of-Use Asset				$ 16,000
Finance Lease, Right-of-Use Liability				$ 18,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Rental Property and Deferred Lease Intangibles (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Rental Property and Depreciation
Write-off of fully amortized deferred leasing intangible assets	$ 113.1	$ 30
Write-off of fully amortized deferred leasing intangible liabilities	$ 4.3	1.5
Buildings, net of accumulated depreciation of $199,497 and $160,281, respectively
Rental Property and Depreciation
Useful life	40 years
Building and land improvements | Maximum
Rental Property and Depreciation
Useful life	20 years
Leasehold Improvements [Member]
Rental Property and Depreciation
Write-off of fully depreciated real estate	$ 1.3	$ 2.2

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 7,968	$ 24,562
Restricted cash	14,574	3,567
Cash and cash equivalents and restricted cash—end of period	$ 22,542	$ 28,129	$ 21,805	$ 20,406

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Tenant Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Tenant Accounts Receivable, net
Lease security deposits available in existing letters of credit	$ 18.3	$ 12.7
Security deposit	0.7	0.7
Lease security deposits available in cash	8.4	8.1
Trade Accounts Receivable [Member]
Tenant Accounts Receivable, net
Allowance for doubtful accounts	0.8	0.1
Accrued Income Receivable [Member]
Tenant Accounts Receivable, net
Allowance for doubtful accounts	0	0.2
Accrued rental income, net	$ 32.4	$ 24.7

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Goodwill (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Goodwill [Line Items]
Goodwill impairment loss	$ 0
Prepaid Expenses and Other Assets
Goodwill [Line Items]
Goodwill	$ 4,900,000

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Dividends, Common Stock [Abstract]
Ordinary income (in dollars per share)				$ 1.051783	$ 0.965483	$ 0.944038
Ordinary income (as a percent)				74.10%	68.80%	68.00%
Return of capital (in dollars per share)				$ 0.133170	$ 0.437852	$ 0.445125
Return of capital (as a percent)				9.40%	31.20%	32.00%
Unrecaptured section 1250 capital gain (in dollars per share)				$ 0.110647	$ 0	$ 0
Unrecaptured section 1250 capital gain (as percent)				7.80%	0.00%	0.00%
Other capital gain (in dollars per share)				$ 0.123563	$ 0	$ 0
Other capital gain (as percent)				8.70%	0.00%	0.00%
Total (in dollars per share)				$ 1.419163	$ 1.403335	$ 1.389163
Tax Year 2019 [Member]
Dividends, Common Stock [Abstract]
Dividend declared (in dollars per share)	$ 0.118333
Tax Year 2018 [Member]
Dividends, Common Stock [Abstract]
Dividend declared (in dollars per share)		$ 0.1175
Tax Year 2017 [Member]
Dividends, Common Stock [Abstract]
Dividend declared (in dollars per share)			$ 0.115833
Series A Preferred Stock
Dividends, Preferred Stock [Abstract]
Series A Preferred stock dividends paid						$ 5.2
Dividend paid on preferred stock (in dollars per share)						$ 1.88125
Series B Preferred Stock
Dividends, Preferred Stock [Abstract]
Series A Preferred stock dividends paid				$ 2.4	$ 4.6	$ 4.6
Dividend paid on preferred stock (in dollars per share)				$ 0.87413	$ 1.65625	$ 1.65625
Dividends, Common Stock [Abstract]
Ordinary income (in dollars per share)				0.714930
Unrecaptured section 1250 capital gain (in dollars per share)				0.075210
Other capital gain (in dollars per share)				$ 0.08399
Series C Preferred Stock
Dividends, Preferred Stock [Abstract]
Series A Preferred stock dividends paid				$ 5.2	$ 5.2	$ 4.1
Dividend paid on preferred stock (in dollars per share)				$ 1.718750	$ 1.718750	$ 1.355905
Dividends, Common Stock [Abstract]
Ordinary income (in dollars per share)				1.405730
Unrecaptured section 1250 capital gain (in dollars per share)				0.147890
Other capital gain (in dollars per share)				$ 0.16513

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 21, 2016
Revenue Recognition
Estimated amount of real estate taxes, which are the responsibility of tenants	$ 15	$ 12.4	$ 10.9
Golden, CO, Q1 2013
Revenue Recognition
Lease Termination Fee Receivable				$ 0.9
Golden, CO, Q1 2013 | Rental income
Revenue Recognition
Gain (Loss) on Contract Termination		$ 0.8	$ 0.1

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Net income	$ 96,245,000	$ 32,200,000	$ 35,588,000
Reconciliation of net loss to taxable income
Net income	96,245,000	32,200,000	35,588,000
Book/tax differences from depreciation and amortization	82,392,000	80,416,000	66,763,000
Above/below market lease amortization	4,164,000	4,583,000	6,213,000
Loss on impairments	6,182,000	1,879,000	16,845,000
Book/tax difference on termination income	(134,000)	(786,000)	678,000
Book/tax difference on property acquisition costs	0	5,262,000	4,498,000
Book/tax difference on extinguishment of debt	0	15,000	(17,000)
Book/tax difference on accrued bonus payment	(50,000)	745,000	1,170,000
Book/tax difference on bad debt expense	660,000	(91,000)	83,000
Book/tax difference on non-cash compensation	3,857,000	6,270,000	7,188,000
Book/tax difference on gain on the sales of rental property, net	(43,471,000)	(26,134,000)	(53,580,000)
Straight-line rent adjustments, net	(11,029,000)	(6,689,000)	(2,495,000)
Book/tax difference on non-cash portion of interest expense	2,316,000	1,897,000	1,631,000
Book/tax difference on prepaid rent of Sec. 467 leases	545,000	(122,000)	(274,000)
Book/tax difference on gain on involuntary conversion	0	(325,000)	0
Other book/tax differences, net	257,000	465,000	284,000
Loss attributable to noncontrolling interest	(5,286,000)	(4,572,000)	(4,069,000)
Taxable income subject to distribution requirement	$ 136,648,000	$ 95,013,000	$ 80,506,000
Distribution of taxable income (as a percent), in excess of	100.00%	100.00%	100.00%
State and local income, excise and franchise taxes	$ 900,000		$ 1,000,000
Liabilities for uncertain tax positions	0	$ 0
Taxable Real Estate Investment Trust Subsidy [Member]
Business Acquisition [Line Items]
Net income	(100,000)	(400,000)	(100,000)
Reconciliation of net loss to taxable income
Net income	$ (100,000)	$ (400,000)	$ (100,000)

Summary of Significant Accou_12

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Segments (Details)	12 Months Ended
	Dec. 31, 2018segment	Dec. 31, 2017segment	Dec. 31, 2016segment
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) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	$ 2,991,701	$ 2,567,577
Deferred leasing intangibles assets, accumulated amortization	246,502	280,642
Land
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	364,023	321,560
Buildings, net of accumulated depreciation of $199,497 and $160,281, respectively
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	2,082,781	1,756,579
Rental property, accumulated depreciation	199,497	125,971
Tenant improvements, net of accumulated depreciation of $36,450 and $32,714, respectively
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	30,704	30,138
Rental property, accumulated depreciation	36,450	28,388
Building and land improvements, net of accumulated depreciation of $80,983 and $56,062, respectively
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	168,229	143,170
Rental property, accumulated depreciation	80,983	33,054
Construction in progress
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	3,949	2,877
Deferred leasing intangibles, net of accumulated amortization of $246,502 and $280,642, respectively
Property Subject to or Available for Operating Lease [Line Items]
Rental property, net	342,015	313,253
Deferred leasing intangibles assets, accumulated amortization	$ 246,502	$ 237,456

Rental Property - Acquisitions

Rental Property - Acquisitions (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018USD ($)ft²building	Sep. 30, 2018USD ($)ft²building	Jun. 30, 2018USD ($)ft²building	Mar. 31, 2018USD ($)ft²building	Dec. 31, 2017USD ($)ft²building	Sep. 30, 2017USD ($)ft²building	Jun. 30, 2017USD ($)ft²building	Mar. 31, 2017USD ($)ft²building	Dec. 31, 2017USD ($)ft²building
Business Acquisition [Line Items]
Area (in square feet)	76,800,000
Acquisitions 2,018
Business Acquisition [Line Items]
Area (in square feet)	10,325,766
Number of buildings acquired | building	53
Purchase price | $	$ 676,532
Acquisitions Q1 2018
Business Acquisition [Line Items]
Area (in square feet)				1,091,868
Number of buildings acquired | building				6
Purchase price | $				$ 78,821
Fountain Inn, SC, Q1 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)				203,000
Number of buildings acquired | building				1
Purchase price | $				$ 10,755
Bloomington, MN, Q1 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)				145,351
Number of buildings acquired | building				1
Purchase price | $				$ 13,538
York, PA, Q1 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)				278,582
Number of buildings acquired | building				1
Purchase price | $				$ 18,277
Houston, TX, Q1 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)				242,225
Number of buildings acquired | building				2
Purchase price | $				$ 22,478
Greer, SC, Q1 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)				222,710
Number of buildings acquired | building				1
Purchase price | $				$ 13,773
Acquisitions Q2 2018
Business Acquisition [Line Items]
Area (in square feet)			2,726,162
Number of buildings acquired | building			15
Purchase price | $			$ 185,300
McHenry, IL, Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			169,311
Number of buildings acquired | building			2
Purchase price | $			$ 10,975
Caledonia, WI, Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			53,680
Number of buildings acquired | building			1
Purchase price | $			$ 4,316
Clinton, PA, Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			175,000
Number of buildings acquired | building			1
Purchase price | $			$ 15,380
Romulus, MI, Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			274,500
Number of buildings acquired | building			1
Purchase price | $			$ 19,328
Mendota Heights, MN, Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			509,910
Number of buildings acquired | building			2
Purchase price | $			$ 26,983
Fairfield, OH, Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			158,500
Number of buildings acquired | building			1
Purchase price | $			$ 7,317
Baton Rouge, LA , Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			279,236
Number of buildings acquired | building			1
Purchase price | $			$ 21,379
Las Vegas, NV , Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			122,472
Number of buildings acquired | building			1
Purchase price | $			$ 17,920
Greer, SC , Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			131,805
Number of buildings acquired | building			1
Purchase price | $			$ 5,621
Longmont, CO , Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			64,750
Number of buildings acquired | building			1
Purchase price | $			$ 7,044
Florence, KY , Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			465,136
Number of buildings acquired | building			1
Purchase price | $			$ 16,421
Charlotte, NC , Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			69,200
Number of buildings acquired | building			1
Purchase price | $			$ 5,446
Conroe, TX , Q2 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)			252,662
Number of buildings acquired | building			1
Purchase price | $			$ 27,170
Acquisitions Q3 2018
Business Acquisition [Line Items]
Area (in square feet)		3,253,347
Number of buildings acquired | building		15
Purchase price | $		$ 194,543
Knoxville, TN, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		106,000
Number of buildings acquired | building		1
Purchase price | $		$ 6,477
Pittsburgh, PA, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		265,568
Number of buildings acquired | building		1
Purchase price | $		$ 19,186
Raleigh/Durham, NC, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		365,000
Number of buildings acquired | building		1
Purchase price | $		$ 21,067
Detroit, MI, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		439,150
Number of buildings acquired | building		1
Purchase price | $		$ 21,077
Des Moines, IA, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		121,922
Number of buildings acquired | building		1
Purchase price | $		$ 6,053
McAllen/Edinburg/Pharr, TX, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		270,084
Number of buildings acquired | building		1
Purchase price | $		$ 18,523
Pittsburgh, PA2, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		200,500
Number of buildings acquired | building		1
Purchase price | $		$ 11,327
Minneapolis/St Paul, MN, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		120,606
Number of buildings acquired | building		1
Purchase price | $		$ 8,422
Milwaukee/Madison, WI, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		100,800
Number of buildings acquired | building		1
Purchase price | $		$ 7,484
Milwaukee/Madison, WI2, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		174,633
Number of buildings acquired | building		2
Purchase price | $		$ 13,288
Chicago, IL, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		105,637
Number of buildings acquired | building		1
Purchase price | $		$ 6,368
Indianapolis, IN, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		478,721
Number of buildings acquired | building		1
Purchase price | $		$ 29,085
Augusta/Richmond County, GA, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		203,726
Number of buildings acquired | building		1
Purchase price | $		$ 9,379
Charlotte, NC, Q3 2018 [Member]
Business Acquisition [Line Items]
Area (in square feet)		301,000
Number of buildings acquired | building		1
Purchase price | $		$ 16,807
Acquisitions Q4 2018
Business Acquisition [Line Items]
Area (in square feet)	3,254,389
Number of buildings acquired | building	17
Purchase price | $	$ 217,868
Greensboro/Winston-Salem, NC 10/22/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	128,287
Number of buildings acquired | building	1
Purchase price | $	$ 8,376
Minneapolis/St Paul, MN 10/22/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	109,444
Number of buildings acquired | building	1
Purchase price | $	$ 8,064
Baltimore, MD 10/23/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	60,000
Number of buildings acquired | building	1
Purchase price | $	$ 7,538
Greenville/Spartanburg, SC 11/7/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	210,891
Number of buildings acquired | building	1
Purchase price | $	$ 11,289
Philadelphia, PA 11/19/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	101,869
Number of buildings acquired | building	1
Purchase price | $	$ 7,074
Detroit, MI [Member]
Business Acquisition [Line Items]
Area (in square feet)	0
Number of buildings acquired | building	0
Purchase price | $	$ 620
Milwaukee/Madison, WI 12/3/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	162,230
Number of buildings acquired | building	1
Purchase price | $	$ 14,132
Pittsburgh, PA 12/11/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	119,161
Number of buildings acquired | building	1
Purchase price | $	$ 15,502
Tucson, AZ 12/13/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	129,047
Number of buildings acquired | building	1
Purchase price | $	$ 10,075
Detroit, MI, 12/14/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	285,306
Number of buildings acquired | building	2
Purchase price | $	$ 20,095
Greenville/Spartanburg, SC 12/17/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	726,500
Number of buildings acquired | building	1
Purchase price | $	$ 28,995
Milwaukee/Madison, WI 12/18/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	288,201
Number of buildings acquired | building	2
Purchase price | $	$ 14,586
Milwaukee/Madison, WI 12/19/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	112,144
Number of buildings acquired | building	1
Purchase price | $	$ 5,349
Chicago, IL 12/19/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	195,415
Number of buildings acquired | building	1
Purchase price | $	$ 16,134
Indianapolis, IN 12/20/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	446,500
Number of buildings acquired | building	1
Purchase price | $	$ 33,314
Pittsburgh, PA 12/20/18 [Member]
Business Acquisition [Line Items]
Area (in square feet)	179,394
Number of buildings acquired | building	1
Purchase price | $	$ 16,725
Acquisitions 2,017
Business Acquisition [Line Items]
Area (in square feet)					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)								2,334,622
Number of buildings acquired | building								11
Purchase price | $								$ 99,787
Jacksonville, FL, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet)								1,025,720
Number of buildings acquired | building								4
Purchase price | $								$ 34,264
Sparks, NV, Q1 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet)								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)								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)								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)								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)								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)								290,105
Number of buildings acquired | building								2
Purchase price | $								$ 15,709
Acquisitions Q2 2017
Business Acquisition [Line Items]
Area (in square feet)							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)							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)							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)							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)							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)							205,440
Number of buildings acquired | building							1
Purchase price | $							$ 19,362
Edwardsville, KS, Q2 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet)							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)							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)							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)							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)							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)							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)							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)							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)							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)							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)							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)							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)							303,760
Number of buildings acquired | building							1
Purchase price | $							$ 19,351
Acquisitions Q3 2017
Business Acquisition [Line Items]
Area (in square feet)						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)						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)						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)						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)						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)						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)						468,302
Number of buildings acquired | building						2
Purchase price | $						$ 20,597
Las Vegas, NV, Q3 2017 [Member]
Business Acquisition [Line Items]
Area (in square feet)						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)						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)						123,962
Number of buildings acquired | building						1
Purchase price | $						$ 7,250
Acquisitions Q4 2017
Business Acquisition [Line Items]
Area (in square feet)					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)					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)					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)					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)					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)					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)					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)					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)					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)					283,000				283,000
Number of buildings acquired | building					2
Purchase price | $					$ 14,300

Rental Property - Acquisition_2

Rental Property - Acquisitions - Allocation of Consideration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
In-place leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles		$ (62,493)
Acquisitions 2,018
Allocation of the consideration paid for the acquired assets and liabilities
Land	$ 59,974
Buildings	465,272
Tenant improvements	6,684
Building and land improvements	33,715
Other assets	794
Other liabilities	(242)
Total purchase price	676,532
Acquisitions 2018 | In-place leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ (77,803)
Weighted average amortization period of lease intangibles	9 years
Acquisitions 2018 | Tenant relationships
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ (32,448)
Weighted average amortization period of lease intangibles	11 years 10 months 10 days
Acquisitions 2018 | Above market leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ (10,372)
Weighted average amortization period of lease intangibles	10 years 6 months 25 days
Acquisitions 2018 | Below market leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ 10,110
Weighted average amortization period of lease intangibles	8 years 1 month
Acquisitions 2018 | Above market ground leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles	$ (178)
Weighted average amortization period of lease intangibles	48 years 1 month
Acquisitions 2,017
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
Other assets		0
Other liabilities		0
Total purchase price		$ 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 | Below market leases
Allocation of the consideration paid for the acquired assets and liabilities
Deferred leasing intangibles		$ 5,222
Weighted average amortization period of lease intangibles		8 years 6 months
Acquisitions 2017 | Above market ground leases
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) - San Diego, CA, Q2 2017 [Member] $ in Millions	May 31, 2017USD ($)shares
Business Acquisition [Line Items]
Other common units issued for property acquisition (in units) | shares	687,827
Other common units issued for property acquisition, fair value | $	$ 18.6
Other Common Units
Business Acquisition [Line Items]
Other common units issued for property acquisition (in units) | shares	687,827
Other common units issued for property acquisition, fair value | $	$ 18.6

Rental Property - Acquisition_3

Rental Property - Acquisitions - Results of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Property acquisition costs	$ 0	$ 5,386	$ 4,567
Acquisitions 2,018
Business Acquisition [Line Items]
Revenue	22,099
Property acquisition costs	0
Net income (loss)	$ 4,245
Acquisitions 2,017
Business Acquisition [Line Items]
Revenue		27,918
Property acquisition costs		5,181
Net income (loss)		$ (1,473)

Rental Property - Disposals (De

Rental Property - Disposals (Details) $ in Thousands, ft² in Millions	12 Months Ended
	Dec. 31, 2018USD ($)ft²building	Dec. 31, 2017USD ($)ft²building	Dec. 31, 2016USD ($)ft²building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Real Estate Properties | building	390
Area (in square feet) | ft²	76.8
Carrying value of property sold	$ 2,991,701	$ 2,567,577
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2018 Disposals [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Real Estate Properties | building	19
Area (in square feet) | ft²	3.9
Carrying value of property sold	$ 135,700
Contribution to revenue	12,000	18,600	$ 15,400
Contribution to net income (loss)	3,700	$ 5,000	2,700
Net proceeds from sales of rental property	207,900
Gain (Loss) on Sale	$ 72,200
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]
Number of Real Estate Properties | building		11
Area (in square feet) | ft²		1.9
Carrying value of property sold		$ 40,900
Contribution to revenue		3,800	7,000
Contribution to net income (loss)		1,500	$ 1,500
Net proceeds from sales of rental property		65,100
Gain (Loss) on Sale		$ 24,200
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]
Number of Real Estate Properties | building			24
Area (in square feet) | ft²			4.2
Carrying value of property sold			$ 90,300
Contribution to revenue			11,200
Contribution to net income (loss)			1,300
Net proceeds from sales of rental property			152,100
Gain (Loss) on Sale			$ 61,800

Rental Property Rental Property

Rental Property Rental Property - Involuntary Conversion (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Loss Contingencies [Line Items]
Partial disposal of building due to involuntary conversion of building	$ 0	$ 363,000	$ 779,000
Involuntary Conversion [Member]
Loss Contingencies [Line Items]
Partial disposal of building due to involuntary conversion of building		800,000
Cumulative Partial Disposal of Building Due to Involuntary Conversion		1,500,000
Loss Contingency, Loss in Period	$ 0	$ 300,000	$ 0

Rental Property - Loss on Impai

Rental Property - Loss on Impairments (Details) $ in Thousands	3 Months Ended					12 Months Ended
	Dec. 31, 2018USD ($)buildingRate	Mar. 31, 2018buildingRate	Dec. 31, 2017USD ($)buildingRate	Dec. 31, 2016USD ($)buildingRate	Jun. 30, 2016buildingRate	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
2018 Impairments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on impairment | $						$ 6,182
2018 Impairments [Member] | Income Approach Valuation Technique | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value | $	$ 7,498					$ 7,498
2018 Impairments [Member] | Income Approach Valuation Technique | Minimum | Level 3 Inputs
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	8.30%	11.00%
2018 Impairments [Member] | Income Approach Valuation Technique | Maximum | Level 3 Inputs
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	12.00%	13.00%
Buena Vista, VA, Q3 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired		1
Sergeant Bluff, IA, Q4 2007
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired		1
Belvidere, IL, Q2 2013, Two
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired	1
Seville, OH, Q4 2007
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired	1
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] | Income Approach Valuation Technique | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value | $			$ 1,543				$ 1,543
2017 Impairments [Member] | Income Approach Valuation Technique | Maximum | Level 3 Inputs
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%
Cincinnati, OH, Q3 2007
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired			1
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] | Income Approach Valuation Technique | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value | $				$ 14,958				$ 14,958
2016 Impairments [Member] | Income Approach Valuation Technique | Minimum | Level 3 Inputs
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%	8.50%
2016 Impairments [Member] | Income Approach Valuation Technique | Maximum | Level 3 Inputs
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				12.00%	12.00%
stag_FairfieldVAQ32007 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired					1
stag_JacksonMSOne [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired					1
stag_JacksonMSTwo [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired					1
stag_MishawakaINQ22013 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired					1
Newark, DE, Q4 2007, Two
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired					1
Seville, OH, Q4 2017 two [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired					2
stag_SparksMDQ42007 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired					2
Boardman, OH, Q4 2007, Two
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired				1
Holland, MI, Q4 2007
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired				1
Pensacola, FL, Q4 2007, One
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Buildings Impaired				1
Measurement Input, Discount Rate [Member] | 2018 Impairments [Member] | Income Approach Valuation Technique | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair Value Inputs, Discount Rates | Rate	12.00%
Measurement Input, Discount Rate [Member] | 2018 Impairments [Member] | Income Approach Valuation Technique | Minimum | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair Value Inputs, Discount Rates | Rate		11.00%
Measurement Input, Discount Rate [Member] | 2018 Impairments [Member] | Income Approach Valuation Technique | Maximum | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair Value Inputs, Discount Rates | Rate		14.50%
Measurement Input, Discount Rate [Member] | 2017 Impairments [Member] | Income Approach Valuation Technique | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair Value Inputs, Discount Rates | Rate			10.00%
Measurement Input, Discount Rate [Member] | 2016 Impairments [Member] | Income Approach Valuation Technique | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair Value Inputs, Discount Rates | Rate				12.00%
Measurement Input, Discount Rate [Member] | 2016 Impairments [Member] | Income Approach Valuation Technique | Minimum | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair Value Inputs, Discount Rates | Rate					8.50%
Measurement Input, Discount Rate [Member] | 2016 Impairments [Member] | Income Approach Valuation Technique | Maximum | Level 3 Inputs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair Value Inputs, Discount Rates | Rate					13.00%

Rental Property - Deferred Leas

Rental Property - Deferred Leasing Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Deferred leasing intangibles, gross	$ 588,517	$ 593,895
Deferred leasing intangibles assets, accumulated amortization	(246,502)	(280,642)
Deferred leasing intangibles, net	342,015	313,253
Below market lease, gross	34,331	34,776
Below market lease, accumulated amortization	(12,764)	(13,555)
Below market lease, net	21,567	21,221
Net decrease to rental income related to above and below market lease amortization	4,164	4,583	$ 6,213
Above market leases
Finite-Lived Intangible Assets [Line Items]
Deferred leasing intangibles, gross	73,122	78,558
Deferred leasing intangibles assets, accumulated amortization	(31,059)	(36,810)
Deferred leasing intangibles, net	42,063	41,748
Other intangible lease assets
Finite-Lived Intangible Assets [Line Items]
Deferred leasing intangibles, gross	515,395	515,337
Deferred leasing intangibles assets, accumulated amortization	(215,443)	(243,832)
Deferred leasing intangibles, net	299,952	271,505
Amortization expense related to other intangible lease assets	74,370	$ 72,936	$ 66,291
Estimated Net Amortization of In-Place Leases, Leasing Commissions and Tenant Relationships
2,019	61,253
2,020	51,241
2,021	40,381
2,022	32,486
2,023	26,352
Above And Below Market Leases [Member]
Estimated Net Amortization of In-Place Leases, Leasing Commissions and Tenant Relationships
2,019	3,853
2,020	3,519
2,021	2,194
2,022	1,368
2,023	$ 1,413

Debt - Summary (Details)

Debt - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jul. 26, 2018	Apr. 10, 2018
Debt Instrument [Line Items]
Principal outstanding	$ 1,325,908	$ 1,173,781
Long-term Debt, Gross	1,332,511	1,179,855
Debt Issuance Costs, Net	$ 6,653	6,135
Weighted average interest rate	3.56%
Remaining borrowing capacity	$ 568,900
Amortization of deferred financing fees and debt issuance costs and fair market value premiums	2,316	2,087	$ 1,698
Interest Rate Swaps
Debt Instrument [Line Items]
Notional amount fixed and used to calculate interest	600,000
Interest Expense [Member]
Debt Instrument [Line Items]
Facility, unused, and other fees	1,246	1,169	$ 1,380
Accounts Payable and Accrued Liabilities [Member]
Debt Instrument [Line Items]
Interest payable	$ 5,900	5,600
LIBOR
Debt Instrument [Line Items]
Stated interest rate	2.50269%
Unsecured Term Loan E (4)
Debt Instrument [Line Items]
Remaining borrowing capacity	$ 175,000
Unsecured Credit Facility
Debt Instrument [Line Items]
Principal outstanding	100,500	271,000
Maximum borrowing capacity	500,000			$ 500,000
Unsecured Credit Facility | Prepaid Expenses and Other Assets
Debt Instrument [Line Items]
Debt Issuance Costs, Net	$ 3,200	1,500
Unsecured Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)	0.90%
Unsecured Term Loans
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 600,000	450,000
Debt Issuance Costs, Net	3,640	3,735
Unsecured Term Loans | Term Loan [Member]
Debt Instrument [Line Items]
Principal outstanding	596,360	446,265
Unsecured Term Loans | Unsecured Term Loan C
Debt Instrument [Line Items]
Long-term Debt, Gross	150,000	150,000
Unsecured Term Loans | Unsecured Term Loan B
Debt Instrument [Line Items]
Long-term Debt, Gross	150,000	150,000
Unsecured Term Loans | Unsecured Term Loan A
Debt Instrument [Line Items]
Long-term Debt, Gross	150,000	150,000
Unsecured Term Loans | Unsecured Term Loan D
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 150,000	0
Unsecured Term Loans | Unsecured Term Loan D | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.00%
Unsecured Term Loans | Unsecured Term Loan E (4)
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0	0
Remaining borrowing capacity				$ 175,000
Unsecured Term Loans | Unsecured Term Loan E (4) | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.00%
Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 575,000	400,000
Debt Issuance Costs, Net	$ 2,512	$ 1,766
Unsecured Notes | Unsecured Term Loan C | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.30%	1.30%
Unsecured Notes | Unsecured Term Loan B | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.30%	1.30%
Unsecured Notes | Unsecured Term Loan A | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.30%	1.30%
Unsecured Notes | Unsecured Term Loan D | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)		1.30%
Unsecured Notes | Unsecured Notes [Member]
Debt Instrument [Line Items]
Principal outstanding	$ 572,488	$ 398,234
Unsecured Notes | Series F Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 100,000	100,000
Stated interest rate	3.98%
Unsecured Notes | Series A Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 50,000	50,000
Stated interest rate	4.98%
Unsecured Notes | Series D Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 100,000	100,000
Stated interest rate	4.32%
Unsecured Notes | Series G Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 75,000	0
Stated interest rate	4.10%				4.10%
Unsecured Notes | Series B Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 50,000	50,000
Stated interest rate	4.98%
Unsecured Notes | Series C Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 80,000	80,000
Stated interest rate	4.42%
Unsecured Notes | Series E Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 20,000	20,000
Stated interest rate	4.42%
Unsecured Notes | Series H Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 100,000	0
Stated interest rate	4.27%				4.27%
Mortgage Loans Payable
Debt Instrument [Line Items]
Principal outstanding	$ 56,560	58,282
Long-term Debt, Gross	57,011	58,855
Debt Issuance Costs, Net	500	634
Unamortized fair market value premium	50	61
Mortgage Loans Payable | Wells Fargo Bank, National Association CMBS Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 53,216	54,949
Stated interest rate	4.31%
Penalty free prepayment period	3 months
Mortgage Loans Payable | Thrivent Financial for Lutherans
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 3,795	$ 3,906
Stated interest rate	4.78%
Penalty free prepayment period	3 months
$450 Million Wells Fargo Unsecured Credit Facility [Member] | Unsecured Notes | Unsecured Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)		1.15%

Debt - 2018 Activity (Details)

Debt - 2018 Activity (Details)	Jul. 27, 2018USD ($)	Mar. 28, 2018USD ($)	Jul. 28, 2017USD ($)	Dec. 31, 2018USD ($)advanceRate	Dec. 31, 2017USD ($)advance	Jul. 26, 2018USD ($)	Apr. 10, 2018USD ($)Rate
Debt Instrument [Line Items]
Remaining borrowing capacity				$ 568,900,000
LIBOR
Debt Instrument [Line Items]
Stated interest rate				2.50269%
Unsecured Term Loan E
Debt Instrument [Line Items]
Remaining borrowing capacity				$ 175,000,000
Unsecured Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				500,000,000		$ 500,000,000
Write off of Deferred Debt Issuance Cost				$ 13,000
Line of Credit Facility, Commitment Fee Percentage | Rate				0.20%
Annual fee				$ 50,000
Unsecured Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)				0.90%
Unsecured Term Loans | Unsecured Term Loan E
Debt Instrument [Line Items]
Annual fee				$ 35,000
Remaining borrowing capacity						$ 175,000,000
Line of credit, accordion feature, increase limit				$ 350,000,000
Debt Instrument, Accordion Feature, Number of Advances, Maximum | advance				6
Debt instrument, accordion feature, increase limit, minimum advance amount				$ 25,000,000
Unused commitment fee (as a percent) | Rate				0.15%
Unsecured Term Loans | Unsecured Term Loan E | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent) | Rate				1.00%
Unsecured Term Loans | Unsecured Term Loan D
Debt Instrument [Line Items]
Annual fee			$ 35,000
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
Unused commitment fee (as a percent)			0.15%
Proceeds from Issuance of Debt	$ 75,000,000	$ 75,000,000
Unsecured Term Loans | Unsecured Term Loan D | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)				1.00%
Unsecured Notes | Series G Unsecured Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount							$ 75,000,000
Stated interest rate				4.10%			4.10%
Unsecured Notes | Series H Unsecured Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount							$ 100,000,000
Stated interest rate				4.27%			4.27%
Unsecured Notes | Unsecured Term Loan D | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)					1.30%

Debt Debt - 2017 Activity (Deta

Debt Debt - 2017 Activity (Details)	Aug. 01, 2017Mortgage_Notes	Jul. 28, 2017USD ($)	May 30, 2017USD ($)	Mar. 03, 2017USD ($)	Mar. 01, 2017USD ($)	Dec. 31, 2018	Dec. 31, 2017USD ($)advance
Mortgage Loans Payable | Connecticut General Life Insurance Company Facilities [Member]
Debt Instrument [Line Items]
Number of mortgage notes | Mortgage_Notes	3
Mortgage Loans Payable | Wells Fargo, National Association | Yorkville, WI, Q4 2014
Debt Instrument [Line Items]
Repayments of Debt			$ 1
Mortgage Loans Payable | Webster Bank, National Association | East Windsor, Q4, 2016 [Member]
Debt Instrument [Line Items]
Repayments of Debt				$ 1
Mortgage Loans Payable | Webster Bank, National Association | Portland, ME, Q1 2012, 1 [Member]
Debt Instrument [Line Items]
Repayments of Debt					$ 1
Mortgage Loans Payable | Union Fidelity Life Insurance Company | Hazelwood, MO, Q3 2011
Debt Instrument [Line Items]
Repayments of Debt					$ 1
Unsecured Term Loans | Unsecured Term Loan D
Debt Instrument [Line Items]
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 Term Loans | Unsecured Term Loan D | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)						1.00%

Debt - Financial Covenants (Det

Debt - Financial Covenants (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Covenant and other disclosures
Net book value of properties that are collateral for debt arrangements	$ 88.2	$ 90.9
Unsecured Debt
Covenant and other disclosures
Interest coverage ratio	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
Fixed charge ratio	1.50	1.50
Unsecured interest ratio	1.75	1.75
Secured recourse debt level		0.075
Unsecured Notes [Member] | Unsecured Debt
Covenant and other disclosures
Interest coverage ratio		1.50

Debt - Fair Value (Details)

Debt - Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 1,332,511	$ 1,179,855
Debt Issuance Costs, Net	6,653	6,135
Principal outstanding	1,325,908	1,173,781
Unsecured Credit Facility
Debt Instrument [Line Items]
Principal outstanding	100,500	271,000
Long-term Debt, Fair Value	100,500	271,528
Unsecured Term Loans
Debt Instrument [Line Items]
Long-term Debt, Gross	600,000	450,000
Debt Issuance Costs, Net	3,640	3,735
Long-term Debt, Fair Value	600,000	451,463
Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	575,000	400,000
Debt Issuance Costs, Net	2,512	1,766
Long-term Debt, Fair Value	585,292	415,599
Mortgage Loans Payable
Debt Instrument [Line Items]
Long-term Debt, Gross	57,011	58,855
Unamortized fair market value premium	50	61
Debt Issuance Costs, Net	500	634
Principal outstanding	56,560	58,282
Long-term Debt, Fair Value	57,289	59,769
Level 3 Inputs
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 1,343,081	$ 1,198,359

Debt - Future Principal Payment

Debt - Future Principal Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Aggregate future principal payments of mortgage notes payable, Unsecured credit facility
2,019	$ 1,926
2,020	152,006
2,021	152,103
2,022	197,681
2,023	353,795
Thereafter	475,000
Total aggregate principal payments	$ 1,332,511	$ 1,179,855

Use of Derivative Financial I_3

Use of Derivative Financial Instruments - Risk Management and Unsecured Loan Swaps (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Interest Rate Swaps
Unsecured Term Loan Swaps
Notional amount assets	$ 600,000	$ 475,000
Notional amount liabilities	300,000	$ 250,000
Interest Rate Derivative, Regions Bank, March 01, 2013 [Member]
Unsecured Term Loan Swaps
Notional amount assets	25,000
Derivative Asset, Fair Value, Gross Asset	$ 337
Fixed Interest Rate (as a percent)	1.33%
Interest Rate Derivative, Capital One, June 01, 2013 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 50,000
Derivative Asset, Fair Value, Gross Asset	$ 478
Fixed Interest Rate (as a percent)	1.681%
Interest Rate Derivative, Capital One, August 01, 2013 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 233
Fixed Interest Rate (as a percent)	1.703%
Interest Rate Derivative, Regions Bank, February 03, 2014 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 152
Fixed Interest Rate (as a percent)	1.9925%
Interest Rate Derivative, The Toronto-Dominion Bank, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 480
Fixed Interest Rate (as a percent)	1.383%
Interest Rate Derivative, PNC Bank, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 50,000
Derivative Asset, Fair Value, Gross Asset	$ 954
Fixed Interest Rate (as a percent)	1.3906%
Interest Rate Derivative, Regions Bank, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 35,000
Derivative Asset, Fair Value, Gross Asset	$ 671
Fixed Interest Rate (as a percent)	1.3858%
Interest Rate Derivative, US Bank, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 476
Fixed Interest Rate (as a percent)	1.395%
Interest Rate Derivative, Capital One, September 29, 2016 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 15,000
Derivative Asset, Fair Value, Gross Asset	$ 285
Fixed Interest Rate (as a percent)	1.395%
Interest Rate Derivative, Royal Bank of Canada, March 20, 2015 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 408
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 assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 407
Fixed Interest Rate (as a percent)	1.7105%
Interest Rate Derivative, The Toronto-Dominion Bank, September 10, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 100,000
Derivative Asset, Fair Value, Gross Asset	$ 506
Fixed Interest Rate (as a percent)	2.2255%
Interest Rate Derivative, Wells Fargo Bank, March 20, 2015 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 469
Fixed Interest Rate (as a percent)	1.828%
Interest Rate Derivative, The Toronto-Dominion Bank, February 14, 2020 [Member]
Unsecured Term Loan Swaps
Notional amount liabilities	$ 25,000
Derivative Liability, Fair Value, Gross Liability	$ (46)
Fixed Interest Rate (as a percent)	2.4535%
Interest Rate Derivative, Regions Bank, February 14, 2020 [Member]
Unsecured Term Loan Swaps
Notional amount liabilities	$ 50,000
Derivative Liability, Fair Value, Gross Liability	$ (115)
Fixed Interest Rate (as a percent)	2.475%
Interest Rate Derivative, Capital One, February 14, 2020 [Member]
Unsecured Term Loan Swaps
Notional amount liabilities	$ 50,000
Derivative Liability, Fair Value, Gross Liability	$ (171)
Fixed Interest Rate (as a percent)	2.53%
Interest Rate Derivative, The Toronto-Dominion Bank, October 30, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 549
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 assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 549
Fixed Interest Rate (as a percent)	1.8505%
Interest Rate Derivative, Wells Fargo Bank, October 30, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 547
Fixed Interest Rate (as a percent)	1.8505%
Interest Rate Derivative, PNC Bank, $25m, October 30, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 25,000
Derivative Asset, Fair Value, Gross Asset	$ 549
Fixed Interest Rate (as a percent)	1.8485%
Interest Rate Derivative, PNC Bank, $50m, October 30, 2017 [Member]
Unsecured Term Loan Swaps
Notional amount assets	$ 50,000
Derivative Asset, Fair Value, Gross Asset	$ 1,101
Fixed Interest Rate (as a percent)	1.8475%
Interest Rate Derivative, The Toronto-Dominion Bank, July 26, 2019 [Member]
Unsecured Term Loan Swaps
Notional amount liabilities	$ 50,000
Derivative Liability, Fair Value, Gross Liability	$ (1,050)
Fixed Interest Rate (as a percent)	2.918%
Interest Rate Derivative, PNC Bank, July 26, 2019 [Member]
Unsecured Term Loan Swaps
Notional amount liabilities	$ 50,000
Derivative Liability, Fair Value, Gross Liability	$ (1,055)
Fixed Interest Rate (as a percent)	2.919%
Interest Rate Derivative, Bank of Montreal, July 26, 2019 [Member]
Unsecured Term Loan Swaps
Notional amount liabilities	$ 50,000
Derivative Liability, Fair Value, Gross Liability	$ (1,050)
Fixed Interest Rate (as a percent)	2.919%
Interest Rate Derivative, US Bank, July 26, 2019 [Member]
Unsecured Term Loan Swaps
Notional amount liabilities	$ 25,000
Derivative Liability, Fair Value, Gross Liability	$ (524)
Fixed Interest Rate (as a percent)	2.919%

Use of Derivative Financial I_4

Use of Derivative Financial Instruments - FV of Interest Rate Swaps (Details) - Interest Rate Swaps - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair value of the interest rate swaps outstanding
Notional amount assets	$ 600,000	$ 475,000
Fair value - assets	9,151	6,079
Notional amount liabilities	300,000	250,000
Fair Value - liabilities	$ (4,011)	$ (1,217)

Use of Derivative Financial I_5

Use of Derivative Financial Instruments - Cash Flow Hedges and Contingent Features (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Risk Management Objective of Using Derivatives
Assets Needed for Immediate Settlement, Aggregate Fair Value	$ 1,100
Cash Flow Hedges of Interest Rate Risk
Total interest expense presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded	48,817	$ 42,469	$ 42,923
Interest Rate Swaps
Cash Flow Hedges of Interest Rate Risk
Additional amount reclassified from accumulated other comprehensive income (loss) as an decrease to interest expense over the next twelve months	(4,400)
Income (loss) recognized in accumulated other comprehensive income on interest rate swaps	(1,687)	(3,597)	(2,244)
Income (loss) reclassified from accumulated other comprehensive income into income as interest expense	1,377	(2,073)	(3,142)
Total interest expense presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded	$ 48,817	$ 42,469	$ 42,923

Use of Derivative Financial I_6

Use of Derivative Financial Instruments - FV on Recurring Basis (Details) - Interest Rate Swaps - Fair value on recurring basis - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets (liabilities):
Interest Rate Swaps - Asset	$ 9,151	$ 6,079
Interest Rate Swaps - Liabilities	(4,011)	(1,217)
Level 1
Assets (liabilities):
Interest Rate Swaps - Asset	0	0
Interest Rate Swaps - Liabilities	0	0
Level 2
Assets (liabilities):
Interest Rate Swaps - Asset	9,151	6,079
Interest Rate Swaps - Liabilities	(4,011)	(1,217)
Level 3 Inputs
Assets (liabilities):
Interest Rate Swaps - Asset	0	0
Interest Rate Swaps - Liabilities	$ 0	$ 0

Equity - Preferred Stock (Detai

Equity - Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 10, 2019	Jun. 11, 2018	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jul. 11, 2018
Class of Stock [Line Items]
Preferred stock, shares authorized			15,000,000				15,000,000					15,000,000	15,000,000
Preferred stock, par value (in dollars per share)			$ 0.01				$ 0.01					$ 0.01	$ 0.01
Preferred Stock Redemption Premium												$ 2,661	$ 0	$ 0
Series B Preferred Stock
Class of Stock [Line Items]
Stock Redeemed or Called During Period, Shares		2,800,000
Preferred Stock Redemption Premium											$ 2,700
Preferred stock, shares issued			0				2,800,000					0	2,800,000
Preferred stock, liquidation preference (in dollars per share)			$ 0				$ 25					$ 0	$ 25
Dividends Payable, Date Declared			Oct. 10, 2018	Jul. 11, 2018	Apr. 10, 2018	Feb. 14, 2018	Nov. 2, 2017	Jul. 31, 2017	May 1, 2017	Feb. 15, 2017
Dividend declared (in dollars per share)			$ 0	$ 0.0460069	$ 0.4140625	$ 0.4140625	$ 0.4140625	$ 0.4140625	$ 0.4140625	$ 0.4140625		$ 0.8741319	$ 1.6562500
Dividends Payable, Date to be Paid			Dec. 31, 2018	Oct. 1, 2018	Jul. 2, 2018	Apr. 2, 2018	Dec. 29, 2017	Sep. 29, 2017	Jun. 30, 2017	Mar. 31, 2017
Preferred Stock, Redemption Price Per Share															$ 25
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued			3,000,000				3,000,000					3,000,000	3,000,000
Preferred stock, liquidation preference (in dollars per share)			$ 25				$ 25					$ 25	$ 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	$ 0.4296875	$ 0.4296875		$ 1.7187500	$ 1.7187500
Scenario, Forecast [Member] | Series C Preferred Stock
Class of Stock [Line Items]
Dividend declared (in dollars per share)	$ 0.4296875

Equity Equity - Common Stock AT

Equity Equity - Common Stock ATM (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Proceeds from sales of common stock	$ 390,447	$ 427,542	$ 282,669
At The Market Program 2017 $500 Million [Member] | Common Stock
Class of Stock [Line Items]
Maximum aggregate offering price under at-the-market program	500,000
Aggregate value of common stock available to be sold under the ATM	$ 99,227
Number of shares sold	14,724,614	363,843
Proceeds from sales of common stock	$ 390,447	$ 10,326
Sales agents' fee	4,040	129
Net proceeds	$ 386,407	$ 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
Proceeds from sales of common stock		$ 117,216
Sales agents' fee		1,604
Net proceeds		$ 115,612
At The Market (ATM) Program | Common Stock
Class of Stock [Line Items]
Number of shares sold	14,724,614	16,262,375
Proceeds from sales of common stock	$ 390,447	$ 427,542
Sales agents' fee	4,040	5,370
Net proceeds	$ 386,407	$ 422,172
Weighted Average [Member] | At The Market Program 2017 $500 Million [Member] | Common Stock
Class of Stock [Line Items]
Sale of Stock, Price Per Share	$ 26.52	$ 28.38
Weighted Average [Member] | At The Market Program 2017 $300 Million [Member] | Common Stock
Class of Stock [Line Items]
Sale of Stock, Price Per Share		27.03
Weighted Average [Member] | At The Market Program 2016 $228 Million [Member] | Common Stock
Class of Stock [Line Items]
Sale of Stock, Price Per Share		24.42
Weighted Average [Member] | At The Market (ATM) Program | Common Stock
Class of Stock [Line Items]
Sale of Stock, Price Per Share	$ 26.52	$ 26.29

Equity - Common Stock Dividends

Equity - Common Stock Dividends (Details) - Common Stock - $ / shares	Jan. 15, 2019	Jan. 10, 2019	Dec. 17, 2018	Nov. 15, 2018	Oct. 15, 2018	Oct. 10, 2018	Sep. 17, 2018	Aug. 15, 2018	Jul. 16, 2018	Jul. 11, 2018	Jun. 15, 2018	May 15, 2018	Apr. 16, 2018	Apr. 10, 2018	Mar. 15, 2018	Feb. 15, 2018	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	Nov. 02, 2016	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Common Stock, Dividends, Per Share, Cash Paid			$ 0.118333	$ 0.118333	$ 0.118333		$ 0.118333	$ 0.118333	$ 0.118333		$ 0.118333	$ 0.118333	$ 0.118333		$ 0.118333	$ 0.118333	$ 0.117500	$ 0.117500	$ 0.117500		$ 0.117500	$ 0.117500	$ 0.117500		$ 0.116667	$ 0.116667	$ 0.116667		$ 0.116667	$ 0.116667	$ 0.116667		$ 1.419996	$ 1.405002
Common Stock, Dividends, Per Share, Declared						$ 0.118333				$ 0.118333				$ 0.118333						$ 0.118333				$ 0.117500				$ 0.117500			$ 0.116667	$ 0.116667	$ 1.419996	$ 1.405002
Scenario, Forecast [Member]
Class of Stock [Line Items]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.118333
Common Stock, Dividends, Per Share, Declared		$ 0.119167

Equity - Restricted Stock (Deta

Equity - Restricted Stock (Details) - Restricted stock - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchased and Retired During Period, Shares	41,975	40,836
Shares
Unvested at beginning of period (in shares)	237,207	272,337	271,115
Granted (in shares)	76,659	75,001	101,289
Vested (in shares)	(112,405)	(109,209)	(98,746)
Forfeited (in shares)	(10,999)	(922)	(1,321)
Unvested at end of period (in shares)	190,462	237,207	272,337
Unrecognized compensation costs	$ 2,700
Unrecognized compensation costs, period for recognition	2 years 4 months 20 days
Vested (in shares)	(112,405)	(109,209)	(98,746)
Fair value of shares vested	$ 3,002	$ 2,591	$ 1,813
Granted on January 5, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 26.40
Granted on January 6, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		4 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 24.41	$ 17.98
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 - Summa

Noncontrolling Interest - Summary (Details) - shares	Jan. 05, 2018	Jan. 06, 2017	Jan. 06, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Noncontrolling interest
Noncontrolling interest ownership percentage				3.50%	4.10%	4.30%	4.90%
Award vesting period | Director [Member] | Granted on January 5, 2018 [Member] | LTIP Units
Noncontrolling Interest [Line Items]
Vesting period	1 year
Award vesting period | Director [Member] | Granted on January 6, 2017 [Member] | LTIP Units
Noncontrolling Interest [Line Items]
Vesting period		1 year
Award vesting period | Director [Member] | Grant Date January 6, 2016 [Member] | LTIP Units
Noncontrolling Interest [Line Items]
Vesting period			1 year
Noncontrolling Interest - Unit holders in Operating Partnership
Noncontrolling interest
Units outstanding, balance at beginning of period (in units)				4,096,687	3,633,881	3,525,977
Granted/Issued				324,802	814,066	176,396
Forfeited				0	0	0
Conversions from LTIP units to Other Common Units				0	0	0
Redemptions from Other Common Units to common stock				(352,055)	(351,260)	(68,492)
Units outstanding, balance at end of period (in units)				4,069,434	4,096,687	3,633,881
LTIP Units | Noncontrolling Interest - Unit holders in Operating Partnership
Noncontrolling interest
Units outstanding, balance at beginning of period (in units)				1,457,070	1,576,516	1,610,105
Granted/Issued				324,802	126,239	176,396
Forfeited				0	0	0
Conversions from LTIP units to Other Common Units				(165,672)	(245,685)	(209,985)
Redemptions from Other Common Units to common stock				0	0	0
Units outstanding, balance at end of period (in units)				1,616,200	1,457,070	1,576,516
Other Common Units | Award vesting period
Noncontrolling Interest [Line Items]
Vesting period				10 days
Other Common Units | Noncontrolling Interest - Unit holders in Operating Partnership
Noncontrolling interest
Units outstanding, balance at beginning of period (in units)				2,639,617	2,057,365	1,915,872
Granted/Issued				0	687,827	0
Forfeited				0	0	0
Conversions from LTIP units to Other Common Units				165,672	245,685	209,985
Redemptions from Other Common Units to common stock				(352,055)	(351,260)	(68,492)
Units outstanding, balance at end of period (in units)				2,453,234	2,639,617	2,057,365

Noncontrolling Interest - LTIP

Noncontrolling Interest - LTIP Units Narrative (Details) $ in Thousands	Jan. 05, 2018	Jan. 06, 2017	Feb. 22, 2016	Jan. 08, 2016	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation					$ 8,922	$ 9,547	$ 9,729
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
LTIP Units | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation					$ 3,546	$ 4,675	6,089
LTIP Units | Executive officers | Award vesting period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit conversion ratio					1
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
Granted on January 5, 2018 [Member] | LTIP Units | Executive officers | Award vesting period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Granted on January 6, 2017 [Member] | LTIP Units | Executive officers | Award vesting period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		4 years
Grant Date February 22, 2016 [Member] | LTIP Units | Executive officers | Award vesting period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			4 years
Grant Date January 8, 2016 [Member] | LTIP Units | Executive officers | Award vesting period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				4 years
Awarded in 2015 [Member] | 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 - FV As

Noncontrolling Interest - FV Assumptions (Details) - LTIP Units - USD ($) $ / shares in Units, $ in Thousands	Mar. 12, 2018	Jan. 05, 2018	Jan. 06, 2017	Feb. 22, 2016	Jan. 08, 2016	Jan. 06, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assumptions
Granted							324,802	126,239	176,396
Granted on March 12, 2018 [Member]
Assumptions
Expected term (years)	10 years
Expected volatility	22.00%
Expected dividend yield	6.00%
Risk-free interest rate	2.46%
Fair value of LTIP units at issuance (in thousands)	$ 90
Granted	3,930
Fair value unit price per LTIP unit at issuance	$ 22.90
Granted on January 5, 2018 [Member]
Assumptions
Expected term (years)		10 years
Expected volatility		22.00%
Expected dividend yield		6.00%
Risk-free interest rate		2.09%
Fair value of LTIP units at issuance (in thousands)		$ 3,447
Granted		137,616
Fair value unit price per LTIP unit at issuance		$ 25.05
Grant Date February 22, 2016 [Member]
Assumptions
Expected term (years)				10 years
Expected volatility				22.00%
Expected dividend yield				6.00%
Risk-free interest rate				1.01%
Fair value of LTIP units at issuance (in thousands)				$ 277
Granted				18,386
Fair value unit price per LTIP unit at issuance				$ 15.07
Grant Date January 8, 2016 [Member]
Assumptions
Expected term (years)			10 years		10 years
Expected volatility			23.00%		22.00%
Expected dividend yield			6.00%		6.00%
Risk-free interest rate			1.61%		1.28%
Fair value of LTIP units at issuance (in thousands)			$ 2,924		$ 2,254
Granted			126,239		135,546
Fair value unit price per LTIP unit at issuance			$ 23.16		$ 16.63
Grant Date January 6, 2016 [Member]
Assumptions
Expected term (years)						10 years
Expected volatility						22.00%
Expected dividend yield						6.00%
Risk-free interest rate						1.36%
Fair value of LTIP units at issuance (in thousands)						$ 390
Granted						22,464
Fair value unit price per LTIP unit at issuance						$ 17.36

Noncontrolling Interest - LTI_2

Noncontrolling Interest - LTIP Units (Details) - LTIP Units - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 4,800
Unrecognized compensation costs, period for recognition	2 years 4 months 20 days
Shares
Unvested at beginning of period (in shares)	300,307	403,423	534,910
Granted	324,802	126,239	176,396
Vested	373,893	229,355	307,883
Forfeited	0	0	0
Unvested at end of period (in shares)	251,216	300,307	403,423
Fair value of shares vested	$ 9,772	$ 6,101	$ 6,393

Noncontrolling Interest - Other

Noncontrolling Interest - Other Common Units (Details) $ in Millions	May 31, 2017USD ($)shares	Dec. 31, 2018shares
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
Average common stock closing price 10 days preceding redemption notice date | Other Common Units
Noncontrolling Interest [Line Items]
Vesting period		10 days

Equity Incentive Plan - Summary

Equity Incentive Plan - Summary (Details) - 2011 Equity Incentive Plan	12 Months Ended
	Dec. 31, 2018benchmarkshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of common stock that can be awarded	6,642,461
Ratio by which number of shares available for grant is reduced for each LTIP unit awarded	1
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)	1
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	3 years
Number of Benchmarks | benchmark	3
Share-based Compensation Arrangement by Share-based Payment Award, Allocation for Total Stockholder Return Compared to Industry Peer Group	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Allocation for Total Stockholder Return Compared to Size-Based Peer Group	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Allocation for Total Stockholder Return Compared to Index	50.00%
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%
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%
Vest on 3rd anniversary | Performance Shares [Member]
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%
Vesting period	1 day
Vest on 4th anniversary | Performance Shares [Member]
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%
Vesting period	1 year

Equity Incentive Plan - Perform

Equity Incentive Plan - Performance Plan Assumptions (Details) - Performance Shares [Member] - USD ($) $ in Thousands	Jan. 05, 2018	Jan. 06, 2017	Mar. 08, 2016
Awarded in 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	22.00%
Expected dividend yield	6.00%
Risk-free interest rate	2.09%
Fair value of performance units grant (in thousands)	$ 5,456
Awarded in 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility		23.00%
Expected dividend yield		6.00%
Risk-free interest rate		1.61%
Fair value of performance units grant (in thousands)		$ 2,882
Awarded in 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility			23.00%
Expected dividend yield			6.00%
Risk-free interest rate			1.08%
Fair value of performance units grant (in thousands)			$ 2,614

Equity Incentive Plan - 2018 Ac

Equity Incentive Plan - 2018 Activity (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		3,276,125	983,735
Outperformance Program2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 6,200
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs		$ 5,300
Unrecognized compensation costs, period for recognition		2 years 2 months 20 days
Common Stock | Outperformance Program2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross	53,722
Stock Repurchased and Retired During Period, Shares	15,183
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, Vested in Period, Fair Value		$ 9,772	$ 6,101	$ 6,393
Unrecognized compensation costs		$ 4,800
Unrecognized compensation costs, period for recognition		2 years 4 months 20 days
LTIP Units | Outperformance Program2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross	183,256

Equity Incentive Plan - Non-cas

Equity Incentive Plan - Non-cash Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	$ 8,922	$ 9,547	$ 9,729
Restricted stock | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	1,698	2,373	2,157
LTIP Units | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	3,546	4,675	6,089
Performance Shares [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	3,298	2,147	1,137
Former Chief Financial Officer [Member] | LTIP Units | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense			1,600
Director [Member] | General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	$ 380	$ 352	$ 346
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-baed Payment Award, Equity Instruments Other Than Options, Trailing Average Common Stock Price, Period	10 days
2011 Equity Incentive Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-baed Payment Award, Equity Instruments Other Than Options, Trailing Average Common Stock Price, Period		10 days	10 days

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Participating securities	195,281	237,896	276,367

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Numerator and Denominator (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Numerator
Net income	$ 96,245	$ 32,200	$ 35,588
Less: preferred stock dividends	7,604	9,794	13,897
Less: redemption of preferred stock	2,661	0	0
Less: amount allocated to participating securities	276	334	384
Less: income attributable to noncontrolling interest after preferred stock dividends	3,319	941	1,069
Net income attributable to common stockholders	$ 82,385	$ 21,131	$ 20,238
Denominator
Weighted average common shares outstanding — basic	103,401	89,538	70,637
Share-based compensation	406	466	216
Weighted average common shares outstanding — diluted	103,807	90,004	70,853
Net income per share — basic and diluted
Net income per share attributable to common stockholders — basic	$ 0.80	$ 0.24	$ 0.29
Net income per share attributable to common stockholders — diluted	$ 0.79	$ 0.23	$ 0.29
Restricted stock
Net income per share — basic and diluted
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	195	238	276

Future Minimum Rents (Details)

Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases, Operating [Abstract]
2,019	$ 299,978
2,020	271,936
2,021	226,970
2,022	188,707
2,023	152,814
Thereafter	$ 535,192

Commitments and Contingencies -

Commitments and Contingencies - Agreements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition, Contingent Consideration [Line Items]
Other expenses	$ 1,277	$ 1,786	$ 1,149
Letters of Credit Outstanding, Amount	$ 5,600
Other Expense [Member] | Property Acquisition under Agreement with Columbus Nova [Member]
Business Acquisition, Contingent Consideration [Line Items]
Other expenses		$ 700

Commitments and Contingencies_2

Commitments and Contingencies - Future Minimum Rental Payments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Operating Leases, Rent Expense, Net	$ 2,100	$ 1,500	$ 1,500
Future minimum rental payments
2,019	2,110
2,020	2,122
2,021	1,227
2,022	935
2,023	944
Thereafter	$ 45,580

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Retirement Benefits [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	$ 0.3	$ 0.4
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, 2018
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

Subsequent Events - Restricted

Subsequent Events - Restricted Stock (Details) - Restricted stock - $ / shares	Jan. 07, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Granted (in shares)		76,659	75,001	101,289
Non-recognized Subsequent Event
Subsequent Event [Line Items]
Granted (in shares)	88,152
Vesting period	4 years
Grant date fair value (in dollars per share)	$ 24.85

Subsequent Events - LTIP (Detai

Subsequent Events - LTIP (Details) - LTIP Units - USD ($) $ in Millions	Jan. 07, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Granted		324,802	126,239	176,396
Director [Member] | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Granted	26,796
Vesting period	1 year
Executive officers | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Granted	127,853
Vesting period	4 years
Awarded in 2019 [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	$ 3.6
Expected term (years)	10 years
Expected volatility	19.00%
Expected dividend yield	6.00%
Risk-free interest rate	2.57%

Subsequent Events - Performance

Subsequent Events - Performance Units (Details) - Awarded in 2019 [Member] - Performance Shares [Member] - Non-recognized Subsequent Event $ in Millions	Jan. 07, 2019USD ($)
Subsequent Event [Line Items]
Fair value of performance units grant (in thousands)	$ 5.6
Expected volatility	20.70%
Expected dividend yield	6.00%
Risk-free interest rate	2.56%

Subsequent Events - Performan_2

Subsequent Events - Performance Unit Payout (Details) - USD ($) $ in Thousands	Jan. 07, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
LTIP Units
Subsequent Event [Line Items]
Vested		373,893	229,355	307,883
Fair value of shares vested		$ 9,772	$ 6,101	$ 6,393
Granted		324,802	126,239	176,396
LTIP Units | Performance Units Granted in 2016 [Member] | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Vesting period	1 year
Vested	102,216
Granted	107,308
Common Stock | Performance Units Granted in 2016 [Member] | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Vested	74,032
Stock Repurchased and Retired During Period, Shares	30,193
Restricted stock
Subsequent Event [Line Items]
Vested		112,405	109,209	98,746
Fair value of shares vested		$ 3,002	$ 2,591	$ 1,813
Stock Repurchased and Retired During Period, Shares		41,975	40,836
Granted		76,659	75,001	101,289
Restricted stock | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Vesting period	4 years
Granted	88,152
Restricted stock | Performance Units Granted in 2016 [Member] | Non-recognized Subsequent Event
Subsequent Event [Line Items]
Vesting period	1 year
Granted	22,678

Schedule 2 - Valuation and Qu_2

Schedule 2 - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Valuation and Qualifying Accounts
Beginning of Period	$ 311	$ 188	$ 106
Costs and Expenses	1,050	123	125
Amounts Written Off	(603)	0	(43)
Balance at End of Period	$ 758	$ 311	$ 188

Schedule 3 - Real Estate and _2

Schedule 3 - Real Estate and Accumulated Depreciation - Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Real Estate and Accumulated Depreciation
Encumbrances	$ (57,011)
Building and Tenant Improvements (initial cost)	2,481,484
Land	364,023
Costs Capitalized Subsequent to Acquisition and Valuation Provision	121,109
Building & Improvements	2,602,593
Land	364,023
Total	2,966,616	$ 2,524,112	$ 2,009,716	$ 1,711,612
Accumulated Depreciation	(316,930)	(251,943)	$ (187,413)	$ (147,917)
Debt Issuance Costs, Net	6,653	$ 6,135
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	(30)
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	(297)
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	(353)
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	(309)
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	(445)
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	(487)
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	(481)
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	(226)
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	(1,254)
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	(1,528)
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	(738)
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	(1,270)
Augusta/Richmond County, GA, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,249
Land	937
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,249
Land	937
Total	7,186
Accumulated Depreciation	(91)
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	(564)
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	(481)
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	(298)
Baton Rouge, LA , Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	15,402
Land	1,962
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	15,402
Land	1,962
Total	17,364
Accumulated Depreciation	(349)
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	917
Building & Improvements	6,196
Land	837
Total	7,033
Accumulated Depreciation	(444)
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	616
Building & Improvements	10,947
Land	1,883
Total	12,830
Accumulated Depreciation	(2,278)
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	(515)
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	(993)
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	(632)
Belvidere, IL, Q2 2013, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,524
Land	1,310
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	2,524
Land	1,310
Total	3,834
Accumulated Depreciation	(675)
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	(540)
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	(1,046)
Belvidere, IL, Q2 2013, Five
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,291
Land	668
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,291
Land	668
Total	4,959
Accumulated Depreciation	(675)
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	(681)
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	83
Building & Improvements	2,891
Land	586
Total	3,477
Accumulated Depreciation	(519)
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	(1,539)
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	9
Building & Improvements	6,533
Land	724
Total	7,257
Accumulated Depreciation	(385)
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	(1,474)
Bloomington, MN, Q1 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,582
Land	1,702
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,582
Land	1,702
Total	10,284
Accumulated Depreciation	(347)
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	854
Building & Improvements	4,327
Land	282
Total	4,609
Accumulated Depreciation	(1,315)
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	(821)
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	(536)
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	170
Building & Improvements	42,822
Land	5,135
Total	47,957
Accumulated Depreciation	(5,648)
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	(2,647)
Caledonia, WI, Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,339
Land	225
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,339
Land	225
Total	3,564
Accumulated Depreciation	(87)
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	(378)
Camarillo, CA, Q4 2014, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,807
Land	7,242
Costs Capitalized Subsequent to Acquisition and Valuation Provision	237
Building & Improvements	11,044
Land	7,242
Total	18,286
Accumulated Depreciation	(1,842)
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	(3,057)
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	309
Building & Improvements	12,280
Land	4,066
Total	16,346
Accumulated Depreciation	(1,558)
Charlotte, NC, Q3 2014, One
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	2,444
Land	805
Costs Capitalized Subsequent to Acquisition and Valuation Provision	4
Building & Improvements	2,448
Land	805
Total	3,253
Accumulated Depreciation	(445)
Charlotte, NC, Q3 2014, Two
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,474
Land	386
Costs Capitalized Subsequent to Acquisition and Valuation Provision	634
Building & Improvements	4,108
Land	386
Total	4,494
Accumulated Depreciation	(511)
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	(409)
Charlotte, NC , Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,654
Land	913
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,654
Land	913
Total	4,567
Accumulated Depreciation	(70)
Pittsburgh, PA 12/11/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,539
Land	935
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	10,539
Land	935
Total	11,474
Accumulated Depreciation	(33)
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	(374)
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	(764)
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	(1,555)
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	1,004
Building & Improvements	3,761
Land	216
Total	3,977
Accumulated Depreciation	(833)
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	(450)
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	(260)
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	(340)
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	(2,286)
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	(769)
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	(1,218)
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	(484)
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	(112)
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	(732)
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	(1,036)
Clinton, PA, Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	12,390
Land	0
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	12,390
Land	0
Total	12,390
Accumulated Depreciation	(309)
Pittsburgh, PA, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	16,840
Land	0
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	16,840
Land	0
Total	16,840
Accumulated Depreciation	(211)
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	165
Building & Improvements	3,467
Land	403
Total	3,870
Accumulated Depreciation	(643)
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	11
Building & Improvements	5,233
Land	337
Total	5,570
Accumulated Depreciation	(304)
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	(754)
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	(612)
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	1,543
Building & Improvements	8,531
Land	715
Total	9,246
Accumulated Depreciation	(1,275)
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	(191)
Philadelphia, PA 11/19/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,655
Land	829
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,655
Land	829
Total	5,484
Accumulated Depreciation	(29)
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	(369)
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	1,152
Building & Improvements	4,327
Land	240
Total	4,567
Accumulated Depreciation	(810)
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	(3,201)
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	2,232
Building & Improvements	3,107
Land	1,237
Total	4,344
Accumulated Depreciation	(893)
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	(878)
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	(1,769)
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	(497)
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	(807)
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	101
Building & Improvements	6,245
Land	525
Total	6,770
Accumulated Depreciation	(1,238)
Des Moines, IA, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,477
Land	556
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,477
Land	556
Total	5,033
Accumulated Depreciation	(72)
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	835
Building & Improvements	12,093
Land	1,002
Total	13,095
Accumulated Depreciation	(2,506)
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	1,118
Building & Improvements	7,857
Land	709
Total	8,566
Accumulated Depreciation	(1,241)
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	(421)
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	(332)
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	(395)
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	16
Building & Improvements	13,240
Land	1,360
Total	14,600
Accumulated Depreciation	(816)
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	208
Building & Improvements	5,565
Land	1,000
Total	6,565
Accumulated Depreciation	(829)
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	(83)
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	(1,123)
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	(217)
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	(639)
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	320
Building & Improvements	9,419
Land	1,248
Total	10,667
Accumulated Depreciation	(1,363)
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	10
Building & Improvements	7,915
Land	1,124
Total	9,039
Accumulated Depreciation	(1,425)
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	(2,218)
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	881
Building & Improvements	10,778
Land	1,581
Total	12,359
Accumulated Depreciation	(1,451)
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	(769)
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	(878)
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	346
Building & Improvements	4,172
Land	635
Total	4,807
Accumulated Depreciation	(458)
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	(678)
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	(551)
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	(1,391)
Fairborn, OH, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,569
Land	867
Costs Capitalized Subsequent to Acquisition and Valuation Provision	70
Building & Improvements	5,639
Land	867
Total	6,506
Accumulated Depreciation	(1,029)
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	104
Building & Improvements	2,946
Land	948
Total	3,894
Accumulated Depreciation	(454)
Fairfield, OH, Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,337
Land	1,086
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,337
Land	1,086
Total	6,423
Accumulated Depreciation	(150)
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	(1,581)
Florence, KY , Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,934
Land	3,109
Costs Capitalized Subsequent to Acquisition and Valuation Provision	40
Building & Improvements	10,974
Land	3,109
Total	14,083
Accumulated Depreciation	(311)
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	883
Building & Improvements	10,410
Land	1,733
Total	12,143
Accumulated Depreciation	(1,057)
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	(760)
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	(472)
Fountain Inn, SC, Q1 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,386
Land	766
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,386
Land	766
Total	9,152
Accumulated Depreciation	(362)
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	548
Building & Improvements	5,260
Land	1,233
Total	6,493
Accumulated Depreciation	(425)
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	(1,463)
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	(988)
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	842
Building & Improvements	6,267
Land	1,344
Total	7,611
Accumulated Depreciation	(1,136)
Milwaukee/Madison, WI2, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,125
Land	805
Costs Capitalized Subsequent to Acquisition and Valuation Provision	250
Building & Improvements	6,375
Land	805
Total	7,180
Accumulated Depreciation	(70)
Milwaukee/Madison, WI, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,023
Land	442
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,023
Land	442
Total	6,465
Accumulated Depreciation	(70)
Milwaukee/Madison, WI, Q3 2018 (2) [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,296
Land	359
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,296
Land	359
Total	3,655
Accumulated Depreciation	(44)
Minneapolis/St Paul, MN 10/22/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,028
Land	1,396
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,028
Land	1,396
Total	6,424
Accumulated Depreciation	(50)
Milwaukee/Madison, WI 12/3/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,908
Land	1,175
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	10,908
Land	1,175
Total	12,083
Accumulated Depreciation	(31)
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	(1,269)
Gloversville, NY, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(692)
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	(248)
Gloversville, NY, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,118)
Building and Tenant Improvements (initial cost)	2,603
Land	151
Costs Capitalized Subsequent to Acquisition and Valuation Provision	20
Building & Improvements	2,623
Land	151
Total	2,774
Accumulated Depreciation	(493)
Gloversville, NY, Q4 2012, Four
Real Estate and Accumulated Depreciation
Encumbrances	(798)
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	(285)
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	1,800
Building & Improvements	8,309
Land	1,442
Total	9,751
Accumulated Depreciation	(1,738)
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	(473)
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	(1,093)
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	(1,141)
Greenwood, SC, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(1,437)
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	(335)
Greenwood, SC, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,224)
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	(289)
Fountain Inn, SC, Q4 2017 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	14,984
Land	1,878
Costs Capitalized Subsequent to Acquisition and Valuation Provision	81
Building & Improvements	15,065
Land	1,878
Total	16,943
Accumulated Depreciation	(607)
Indianapolis, IN 12/20/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	22,032
Land	2,585
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	22,032
Land	2,585
Total	24,617
Accumulated Depreciation	(53)
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	(448)
Greer, SC, Q1 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,841
Land	1,126
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	10,841
Land	1,126
Total	11,967
Accumulated Depreciation	(297)
Greer, SC , Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,939
Land	681
Costs Capitalized Subsequent to Acquisition and Valuation Provision	364
Building & Improvements	5,303
Land	681
Total	5,984
Accumulated Depreciation	(124)
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	(220)
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	(227)
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	45
Building & Improvements	505
Land	153
Total	658
Accumulated Depreciation	(66)
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	(411)
Greensboro/Winston-Salem, NC 10/22/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,383
Land	691
Costs Capitalized Subsequent to Acquisition and Valuation Provision	19
Building & Improvements	6,402
Land	691
Total	7,093
Accumulated Depreciation	(52)
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	(767)
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	105
Building & Improvements	11,025
Land	642
Total	11,667
Accumulated Depreciation	(604)
Grove City, OH, Q4 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,745
Land	730
Costs Capitalized Subsequent to Acquisition and Valuation Provision	78
Building & Improvements	3,823
Land	730
Total	4,553
Accumulated Depreciation	(434)
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	984
Building & Improvements	12,364
Land	1,716
Total	14,080
Accumulated Depreciation	(1,659)
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	(1,294)
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	(5,465)
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	1,180
Building & Improvements	12,359
Land	1,455
Total	13,814
Accumulated Depreciation	(1,935)
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	(463)
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	324
Building & Improvements	3,304
Land	1,157
Total	4,461
Accumulated Depreciation	(861)
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	(1,888)
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	(769)
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	0
Building & Improvements	7,412
Land	550
Total	7,962
Accumulated Depreciation	(361)
Holland, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(2,970)
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	(801)
Houston, TX, Q1 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,435
Land	1,048
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,435
Land	1,048
Total	9,483
Accumulated Depreciation	(266)
Conroe, TX , Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	20,995
Land	1,853
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	20,995
Land	1,853
Total	22,848
Accumulated Depreciation	(351)
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	(1,359)
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	808
Building & Improvements	5,714
Land	1,428
Total	7,142
Accumulated Depreciation	(1,053)
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	(1,267)
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	(702)
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	(595)
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	(535)
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	(413)
Houston, TX, Q1 2018 (2) [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,371
Land	809
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	9,371
Land	809
Total	10,180
Accumulated Depreciation	(261)
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	182
Building & Improvements	3,305
Land	1,061
Total	4,366
Accumulated Depreciation	(577)
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	71
Building & Improvements	2,806
Land	356
Total	3,162
Accumulated Depreciation	(518)
Independence, VA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(1,336)
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	(619)
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	1,170
Building & Improvements	13,386
Land	2,428
Total	15,814
Accumulated Depreciation	(1,272)
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	(580)
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	(342)
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	321
Building & Improvements	8,188
Land	650
Total	8,838
Accumulated Depreciation	(658)
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	(856)
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	1,024
Building & Improvements	8,290
Land	596
Total	8,886
Accumulated Depreciation	(697)
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	798
Building & Improvements	18,275
Land	828
Total	19,103
Accumulated Depreciation	(3,242)
Johnstown, NY, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(692)
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	(270)
Johnstown, NY, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,011)
Building and Tenant Improvements (initial cost)	1,592
Land	216
Costs Capitalized Subsequent to Acquisition and Valuation Provision	47
Building & Improvements	1,639
Land	216
Total	1,855
Accumulated Depreciation	(274)
Johnstown, NY, Q4 2012, Three
Real Estate and Accumulated Depreciation
Encumbrances	(825)
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	(241)
Johnstown, NY, Q4 2012, Four
Real Estate and Accumulated Depreciation
Encumbrances	(1,544)
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	(307)
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	591
Building & Improvements	4,582
Land	797
Total	5,379
Accumulated Depreciation	(473)
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	129
Building & Improvements	6,501
Land	1,884
Total	8,385
Accumulated Depreciation	(557)
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	120
Building & Improvements	2,598
Land	407
Total	3,005
Accumulated Depreciation	(439)
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	46
Building & Improvements	3,247
Land	447
Total	3,694
Accumulated Depreciation	(580)
Knoxville, TN, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,919
Land	472
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,919
Land	472
Total	5,391
Accumulated Depreciation	(96)
Lafayette, IN, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(1,144)
Building and Tenant Improvements (initial cost)	2,205
Land	295
Costs Capitalized Subsequent to Acquisition and Valuation Provision	59
Building & Improvements	2,264
Land	295
Total	2,559
Accumulated Depreciation	(389)
Lafayette, IN, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,943)
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	(587)
Lafayette, IN, Q4 2012, Three
Real Estate and Accumulated Depreciation
Encumbrances	(3,992)
Building and Tenant Improvements (initial cost)	8,107
Land	906
Costs Capitalized Subsequent to Acquisition and Valuation Provision	301
Building & Improvements	8,408
Land	906
Total	9,314
Accumulated Depreciation	(1,649)
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	650
Building & Improvements	6,130
Land	1,520
Total	7,650
Accumulated Depreciation	(1,406)
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	341
Building & Improvements	4,209
Land	1,370
Total	5,579
Accumulated Depreciation	(518)
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	535
Building & Improvements	3,640
Land	1,308
Total	4,948
Accumulated Depreciation	(486)
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	(1,831)
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	(793)
Lansing, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(5,322)
Building and Tenant Improvements (initial cost)	7,162
Land	429
Costs Capitalized Subsequent to Acquisition and Valuation Provision	100
Building & Improvements	7,262
Land	429
Total	7,691
Accumulated Depreciation	(1,365)
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	(960)
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	(645)
Las Vegas, NV , Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	12,390
Land	2,615
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	12,390
Land	2,615
Total	15,005
Accumulated Depreciation	(272)
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	(160)
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	(516)
Indianapolis, IN, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	21,160
Land	1,654
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	21,160
Land	1,654
Total	22,814
Accumulated Depreciation	(231)
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	100
Building & Improvements	5,335
Land	1,380
Total	6,715
Accumulated Depreciation	(1,381)
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	(1,742)
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	1,541
Building & Improvements	7,056
Land	173
Total	7,229
Accumulated Depreciation	(2,330)
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	1,388
Building & Improvements	5,356
Land	232
Total	5,588
Accumulated Depreciation	(1,008)
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	(922)
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	53
Building & Improvements	823
Land	143
Total	966
Accumulated Depreciation	(341)
Detroit, MI, 12/14/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,123
Land	1,390
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	7,123
Land	1,390
Total	8,513
Accumulated Depreciation	(28)
Detroit, MI, 2, 12/14/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,967
Land	848
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,967
Land	848
Total	9,815
Accumulated Depreciation	(25)
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	(1,167)
Longmont, CO , Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	5,345
Land	734
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	5,345
Land	734
Total	6,079
Accumulated Depreciation	(113)
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	(515)
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	(1,098)
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	(1,688)
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	143
Building & Improvements	8,338
Land	1,690
Total	10,028
Accumulated Depreciation	(1,140)
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	(591)
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	(273)
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	(184)
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	(1,552)
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	(836)
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	(1,175)
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	212
Building & Improvements	6,846
Land	969
Total	7,815
Accumulated Depreciation	(446)
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	(503)
Marion, IN, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(2,714)
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	(650)
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	80
Building & Improvements	1,131
Land	199
Total	1,330
Accumulated Depreciation	(232)
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	(568)
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	(746)
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	1,077
Building & Improvements	8,751
Land	858
Total	9,609
Accumulated Depreciation	(2,211)
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	(884)
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	(1,409)
McHenry, IL, Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,818
Land	576
Costs Capitalized Subsequent to Acquisition and Valuation Provision	75
Building & Improvements	3,893
Land	576
Total	4,469
Accumulated Depreciation	(123)
McHenry, IL, 2, Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,010
Land	448
Costs Capitalized Subsequent to Acquisition and Valuation Provision	14
Building & Improvements	4,024
Land	448
Total	4,472
Accumulated Depreciation	(118)
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	(903)
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	(802)
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	677
Building & Improvements	5,676
Land	358
Total	6,034
Accumulated Depreciation	(859)
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	795
Building & Improvements	5,938
Land	1,482
Total	7,420
Accumulated Depreciation	(1,225)
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	25
Building & Improvements	7,169
Land	1,800
Total	8,969
Accumulated Depreciation	(1,215)
New Kingston, PA, Q3 2014
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,625
Land	2,041
Costs Capitalized Subsequent to Acquisition and Valuation Provision	335
Building & Improvements	8,960
Land	2,041
Total	11,001
Accumulated Depreciation	(1,384)
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	(1,335)
Mendota Heights, MN, Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,492
Land	1,494
Costs Capitalized Subsequent to Acquisition and Valuation Provision	187
Building & Improvements	3,679
Land	1,494
Total	5,173
Accumulated Depreciation	(116)
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	385
Building & Improvements	10,425
Land	1,264
Total	11,689
Accumulated Depreciation	(813)
McAllen/Edinburg/Pharr, TX, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	12,623
Land	1,882
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	12,623
Land	1,882
Total	14,505
Accumulated Depreciation	(205)
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	1,789
Building & Improvements	9,312
Land	418
Total	9,730
Accumulated Depreciation	(703)
Chicago, IL, Q3 2018 (2) [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	0
Land	173
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	0
Land	173
Total	173
Accumulated Depreciation	0
Chicago, IL, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,949
Land	523
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,949
Land	523
Total	5,472
Accumulated Depreciation	(70)
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	(2,529)
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	(783)
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	359
Building & Improvements	7,770
Land	701
Total	8,471
Accumulated Depreciation	(1,778)
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	(405)
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	(628)
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	449
Building & Improvements	9,131
Land	1,431
Total	10,562
Accumulated Depreciation	(1,606)
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	(615)
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	(1,260)
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	175
Building & Improvements	17,942
Land	2,616
Total	20,558
Accumulated Depreciation	(1,963)
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	(509)
Lopatcong, NJ, Q4 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	10,054
Land	1,554
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,599
Building & Improvements	11,653
Land	1,554
Total	13,207
Accumulated Depreciation	(1,056)
Pittsburgh, PA2, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,145
Land	177
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	9,145
Land	177
Total	9,322
Accumulated Depreciation	(128)
Newton, NC, Q2 2010
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	7,338
Land	732
Costs Capitalized Subsequent to Acquisition and Valuation Provision	1,283
Building & Improvements	8,621
Land	732
Total	9,353
Accumulated Depreciation	(988)
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	(6,631)
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	5
Building & Improvements	4,432
Land	1,528
Total	5,960
Accumulated Depreciation	(766)
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	67
Building & Improvements	7,748
Land	486
Total	8,234
Accumulated Depreciation	(1,057)
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	(529)
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	78
Building & Improvements	6,818
Land	2,839
Total	9,657
Accumulated Depreciation	(1,633)
Novi, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(2,608)
Building and Tenant Improvements (initial cost)	3,879
Land	252
Costs Capitalized Subsequent to Acquisition and Valuation Provision	336
Building & Improvements	4,215
Land	252
Total	4,467
Accumulated Depreciation	(872)
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	(722)
Detroit, MI, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	16,918
Land	1,381
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	16,918
Land	1,381
Total	18,299
Accumulated Depreciation	(241)
Milwaukee/Madison, WI 12/19/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,350
Land	526
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,350
Land	526
Total	4,876
Accumulated Depreciation	(16)
Oakwood Village, OH, Q2 2015
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	3,067
Land	343
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	3,067
Land	343
Total	3,410
Accumulated Depreciation	(510)
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	1,252
Building & Improvements	14,548
Land	731
Total	15,279
Accumulated Depreciation	(2,212)
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	186
Building & Improvements	3,818
Land	1,233
Total	5,051
Accumulated Depreciation	(281)
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	332
Building & Improvements	3,008
Land	1,242
Total	4,250
Accumulated Depreciation	(678)
O'hara, PA, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(14,956)
Building and Tenant Improvements (initial cost)	18,875
Land	1,435
Costs Capitalized Subsequent to Acquisition and Valuation Provision	7,652
Building & Improvements	26,527
Land	1,435
Total	27,962
Accumulated Depreciation	(4,923)
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	22
Building & Improvements	2,233
Land	746
Total	2,979
Accumulated Depreciation	(295)
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	(1,166)
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	2,105
Building & Improvements	22,868
Land	2,431
Total	25,299
Accumulated Depreciation	(1,892)
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	(906)
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	(419)
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	(715)
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	435
Building & Improvements	3,424
Land	145
Total	3,569
Accumulated Depreciation	(1,378)
Milwaukee/Madison, WI 12/18/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	6,678
Land	841
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	6,678
Land	841
Total	7,519
Accumulated Depreciation	(27)
Milwaukee/Madison, WI 12/18/18 (2) [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,586
Land	439
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,586
Land	439
Total	5,025
Accumulated Depreciation	(18)
Phenix City, AL, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(1,490)
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	(365)
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	(528)
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	(277)
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	(471)
Greenville/Spartanburg, SC 11/7/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	9,260
Land	797
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	9,260
Land	797
Total	10,057
Accumulated Depreciation	(48)
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	(326)
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	(1,133)
Chicago, IL 12/19/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	12,341
Land	2,297
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	12,341
Land	2,297
Total	14,638
Accumulated Depreciation	(36)
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	(716)
Minneapolis/St Paul, MN, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,978
Land	1,599
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,978
Land	1,599
Total	6,577
Accumulated Depreciation	(115)
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	(902)
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	(1,937)
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	86
Building & Improvements	3,813
Land	891
Total	4,704
Accumulated Depreciation	(706)
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	1,161
Building & Improvements	11,823
Land	2,071
Total	13,894
Accumulated Depreciation	(4,157)
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	223
Building & Improvements	5,624
Land	1,708
Total	7,332
Accumulated Depreciation	(710)
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	396
Building & Improvements	14,262
Land	843
Total	15,105
Accumulated Depreciation	(2,569)
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	405
Building & Improvements	6,519
Land	728
Total	7,247
Accumulated Depreciation	(838)
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	(664)
Rock Hill, SC, Q3 2016 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	(3,795)
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	(766)
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	772
Building & Improvements	5,284
Land	1,095
Total	6,379
Accumulated Depreciation	(424)
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	(984)
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	(3,476)
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	1,574
Building & Improvements	9,854
Land	1,072
Total	10,926
Accumulated Depreciation	(1,923)
Romulus, MI, Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	14,942
Land	1,254
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	14,942
Land	1,254
Total	16,196
Accumulated Depreciation	(378)
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	32
Building & Improvements	15,075
Land	1,080
Total	16,155
Accumulated Depreciation	(1,009)
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	1,007
Building & Improvements	6,671
Land	439
Total	7,110
Accumulated Depreciation	(1,456)
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	(830)
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	(469)
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	134
Building & Improvements	5,418
Land	1,535
Total	6,953
Accumulated Depreciation	(580)
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	(927)
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	989
Building & Improvements	4,985
Land	3,194
Total	8,179
Accumulated Depreciation	(1,202)
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	(2,054)
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	78
Building & Improvements	15,094
Land	2,290
Total	17,384
Accumulated Depreciation	(974)
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	(218)
Seville, OH, Q4 2007
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,591
Land	273
Costs Capitalized Subsequent to Acquisition and Valuation Provision	61
Building & Improvements	1,652
Land	273
Total	1,925
Accumulated Depreciation	(418)
Seville, OH, Q4 2007 (2) [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	1,219
Land	492
Costs Capitalized Subsequent to Acquisition and Valuation Provision	110
Building & Improvements	1,329
Land	492
Total	1,821
Accumulated Depreciation	(781)
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	102
Building & Improvements	13,071
Land	393
Total	13,464
Accumulated Depreciation	(1,873)
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	(853)
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	(1,208)
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	1,063
Building & Improvements	4,023
Land	957
Total	4,980
Accumulated Depreciation	(691)
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	948
Building & Improvements	4,366
Land	470
Total	4,836
Accumulated Depreciation	(719)
Greenville/Spartanburg, SC 12/17/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	24,200
Land	1,454
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	24,200
Land	1,454
Total	25,654
Accumulated Depreciation	(65)
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	72
Building & Improvements	10,729
Land	613
Total	11,342
Accumulated Depreciation	(1,147)
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	45
Building & Improvements	3,331
Land	264
Total	3,595
Accumulated Depreciation	(723)
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	294
Building & Improvements	5,128
Land	411
Total	5,539
Accumulated Depreciation	(937)
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	(891)
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	977
Building & Improvements	7,305
Land	938
Total	8,243
Accumulated Depreciation	(697)
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	(1,603)
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	685
Building & Improvements	4,379
Land	342
Total	4,721
Accumulated Depreciation	(728)
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	685
Building & Improvements	6,482
Land	493
Total	6,975
Accumulated Depreciation	(1,202)
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	(242)
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	(1,213)
Sterling Heights, MI, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(1,437)
Building and Tenant Improvements (initial cost)	4,191
Land	1,133
Costs Capitalized Subsequent to Acquisition and Valuation Provision	415
Building & Improvements	4,606
Land	1,133
Total	5,739
Accumulated Depreciation	(818)
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	658
Building & Improvements	3,396
Land	612
Total	4,008
Accumulated Depreciation	(240)
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	(1,012)
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	(345)
South Saint Paul, MA, Q2 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	14,975
Land	2,378
Costs Capitalized Subsequent to Acquisition and Valuation Provision	329
Building & Improvements	15,304
Land	2,378
Total	17,682
Accumulated Depreciation	(368)
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	(1,607)
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	574
Building & Improvements	6,427
Land	491
Total	6,918
Accumulated Depreciation	(962)
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	2,499
Building & Improvements	8,308
Land	2,360
Total	10,668
Accumulated Depreciation	(1,732)
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	(297)
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	(1,418)
Charlotte, NC, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	13,392
Land	802
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	13,392
Land	802
Total	14,194
Accumulated Depreciation	(171)
Burlington, NJ, Vacant Land [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	378
Land	3,267
Costs Capitalized Subsequent to Acquisition and Valuation Provision	223
Building & Improvements	601
Land	3,267
Total	3,868
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
Tucson, AZ 12/13/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	8,037
Land	996
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	8,037
Land	996
Total	9,033
Accumulated Depreciation	(28)
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	(976)
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	(1,996)
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	(1,971)
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	(382)
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	(402)
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	(248)
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	(208)
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	(201)
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	169
Building & Improvements	5,041
Land	855
Total	5,896
Accumulated Depreciation	(1,220)
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	(403)
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	(517)
Pittsburgh, PA 12/20/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	12,111
Land	1,853
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	12,111
Land	1,853
Total	13,964
Accumulated Depreciation	(35)
Ware Shoals, SC, Q4 2012
Real Estate and Accumulated Depreciation
Encumbrances	(236)
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	(40)
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	(543)
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	(1,415)
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	(386)
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	(685)
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	(266)
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	282
Building & Improvements	956
Land	382
Total	1,338
Accumulated Depreciation	(113)
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	(131)
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	(160)
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	(114)
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	(912)
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	(732)
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	348
Building & Improvements	9,499
Land	240
Total	9,739
Accumulated Depreciation	(347)
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	(641)
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	23
Building & Improvements	5,831
Land	661
Total	6,492
Accumulated Depreciation	(474)
Baltimore, MD 10/23/18 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	4,601
Land	963
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	4,601
Land	963
Total	5,564
Accumulated Depreciation	(53)
Wichita, KS, Q4 2012, One
Real Estate and Accumulated Depreciation
Encumbrances	(1,438)
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	(315)
Wichita, KS, Q4 2012, Two
Real Estate and Accumulated Depreciation
Encumbrances	(1,570)
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	(382)
Wichita, KS, Q4 2012, Four
Real Estate and Accumulated Depreciation
Encumbrances	(719)
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	(230)
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	(1,632)
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	(1,827)
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	(383)
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	(774)
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	207
Building & Improvements	14,745
Land	2,152
Total	16,897
Accumulated Depreciation	(790)
York, PA, Q1 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	15,049
Land	966
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	15,049
Land	966
Total	16,015
Accumulated Depreciation	(474)
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	323
Building & Improvements	5,216
Land	416
Total	5,632
Accumulated Depreciation	(609)
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	(745)
Raleigh/Durham, NC, Q3 2018 [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Building and Tenant Improvements (initial cost)	16,150
Land	1,832
Costs Capitalized Subsequent to Acquisition and Valuation Provision	0
Building & Improvements	16,150
Land	1,832
Total	17,982
Accumulated Depreciation	$ (215)

Schedule 3 - Real Estate and _3

Schedule 3 - Real Estate and Accumulated Depreciation - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2018
Buildings, net of accumulated depreciation of $199,497 and $160,281, respectively
Real Estate and Accumulated Depreciation
Useful life	40 years
Building and land improvements | Maximum
Real Estate and Accumulated Depreciation
Useful life	20 years

Schedule 3 - Real Estate and _4

Schedule 3 - Real Estate and Accumulated Depreciation - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Federal Income Tax Basis	$ 3,700,000
Real Estate:
Balance at beginning of period	2,524,112	$ 2,009,716	$ 1,711,612
Additions during period
Other acquisitions	565,645	514,725	381,131
Improvements, etc.	34,458	53,099	33,133
Other additions	0	0	0
Deductions during period
Cost of real estate sold	(150,692)	(48,674)	(97,342)
Write-off of tenant improvements	(1,334)	(2,166)	(2,585)
Asset impairments and involuntary conversion	(5,573)	(2,588)	(16,233)
Balance at the end of the period including assets held for sale	2,966,616	2,524,112	2,009,716
Assets held for sale	0	(20,731)	0
Balance at the end of the period excluding assets held for sale	2,966,616	2,503,381	2,009,716
Accumulated Depreciation:
Balance at beginning of period	251,943	187,413	147,917
Additions during period
Depreciation and amortization expense	90,320	75,314	57,391
Other additions	0	0	0
Deductions during period
Disposals	(25,333)	(10,784)	(17,895)
Balance at the end of the period including assets held for sale	316,930	251,943	187,413
Assets held for sale	0	(2,886)	0
Balance at the end of the period excluding assets held for sale	$ 316,930	$ 249,057	$ 187,413