Inland Real Estate Income Trust (INRE) 10-K 23 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Mar. 22, 2023	Jun. 30, 2021
Cover [Abstract]
Entity Registrant Name	Inland Real Estate Income Trust, Inc.
Entity Central Index Key	0001528985
Document Type	10-K
Document Period End Date	Dec. 31, 2022
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		36,226,045
Entity Public Float			$ 0
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Entity Interactive Data Current	Yes
Entity File Number	000-55146
Entity Tax Identification Number	45-3079597
Entity Address, Address Line One	2901 Butterfield Road
Entity Address, City or Town	Oak Brook
Entity Address, State or Province	IL
Entity Address, Country	US
Entity Incorporation, State or Country Code	MD
Entity Address, Postal Zip Code	60523
City Area Code	630
Local Phone Number	218-8000
Title of 12(g) Security	Common Stock, $0.001 par value per share
Trading Symbol	ck1528985
Document Annual Report	true
Document Transition Report	false
Auditor Name	KPMG LLP
Auditor Location	Chicago, IL
Auditor Firm ID	185

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Investment properties held and used:
Land	$ 330,456	$ 267,946
Building and other improvements	1,198,309	993,129
Total	1,528,765	1,261,075
Less accumulated depreciation	(288,863)	(245,532)
Net investment properties held and used	1,239,902	1,015,543
Cash and cash equivalents	4,857	8,229
Restricted cash	477	5,154
Accounts and rent receivable	20,114	18,560
Acquired lease intangible assets, net	76,961	58,203
Operating lease right-of-use asset, net	14,153	14,570
Other assets	42,774	6,448
Total assets	1,399,238	1,126,707
Liabilities:
Mortgages and credit facility payable, net	852,345	595,542
Accounts payable and accrued expenses	10,265	9,089
Operating lease liability	24,716	24,396
Distributions payable	4,907	4,888
Acquired intangible liabilities, net	43,339	37,918
Due to related parties	4,034	2,537
Other liabilities	8,574	14,414
Total liabilities	948,180	688,784
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $.001 par value, 40,000,000 shares authorized, none outstanding
Common stock, $.001 par value, 1,460,000,000 shares authorized, 36,184,058 and 36,040,928 shares issued and outstanding as of December 31, 2022 and 2021, respectively	36	36
Additional paid in capital	814,949	811,233
Accumulated distributions and net loss	(398,097)	(365,877)
Accumulated other comprehensive income (loss)	34,170	(7,469)
Total stockholders’ equity	451,058	437,923
Total liabilities and stockholders’ equity	$ 1,399,238	$ 1,126,707

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,460,000,000	1,460,000,000
Common stock, shares issued	36,184,058	36,040,928
Common stock, shares outstanding	36,184,058	36,040,928

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income:
Rental income	$ 133,432	$ 118,957	$ 115,527
Other property income	214	183	162
Total income	133,646	119,140	115,689
Cost and Expenses:
Property operating expenses	25,073	21,649	19,416
Real estate tax expense	17,210	14,388	14,505
General and administrative expenses	5,400	4,784	5,206
Business management fee	10,212	8,950	8,924
Depreciation and amortization	55,319	48,906	52,834
Total expenses	113,214	98,677	100,885
Other Income (Expense):
Interest expense	(33,069)	(23,240)	(25,349)
Interest and other income	(19)	(274)	(157)
Net loss	$ (12,618)	$ (2,503)	$ (10,388)
Net loss per common share, basic	$ (0.35)	$ (0.07)	$ (0.29)
Net loss per common share, diluted	$ (0.35)	$ (0.07)	$ (0.29)
Weighted average number of common shares outstanding, basic	36,134,801	36,031,088	36,021,040
Weighted average number of common shares outstanding, diluted	36,134,801	36,031,088	36,021,040
Comprehensive income (loss):
Net loss	$ (12,618)	$ (2,503)	$ (10,388)
Unrealized gain (loss) on derivatives	40,902	2,445	(16,497)
Reclassification adjustment for amounts included in net loss	737	7,654	5,837
Comprehensive income (loss)	$ 29,021	$ 7,596	$ (21,048)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Accumulated Distributions and Net Loss [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2019	$ 460,519	$ 36	$ 805,722	$ (338,331)	$ (6,908)
Balance, shares at Dec. 31, 2019		35,799,388
Distributions declared	(8,173)			(8,173)
Rescission of Q1 2020 distribution (see Note 9)	8,173			8,173
Proceeds from distribution reinvestment plan	4,547		4,547
Proceeds from distribution reinvestment plan, shares		225,940
Shares repurchased	(127)		(127)
Shares repurchased, shares		(6,730)
Unrealized gain (loss) on derivatives	(16,497)				(16,497)
Reclassification adjustment for amounts included in net loss	5,837				5,837
Equity based compensation	68		68
Equity based compensation, shares		3,770
Net loss	(10,388)			(10,388)
Balance at Dec. 31, 2020	443,959	$ 36	810,210	(348,719)	(17,568)
Balance, shares at Dec. 31, 2020		36,022,368
Distributions declared	(14,655)			(14,655)
Proceeds from distribution reinvestment plan	3,749		3,749
Proceeds from distribution reinvestment plan, shares		207,373
Shares repurchased	(2,777)		(2,777)
Shares repurchased, shares		(192,023)
Unrealized gain (loss) on derivatives	2,445				2,445
Reclassification adjustment for amounts included in net loss	7,654				7,654
Equity based compensation	51		51
Equity based compensation, shares		3,210
Net loss	(2,503)			(2,503)
Balance at Dec. 31, 2021	$ 437,923	$ 36	811,233	(365,877)	(7,469)
Balance, shares at Dec. 31, 2021	36,040,928	36,040,928
Distributions declared	$ (19,602)			(19,602)
Proceeds from distribution reinvestment plan	7,287		7,287
Proceeds from distribution reinvestment plan, shares		371,457
Shares repurchased	(3,645)		(3,645)
Shares repurchased, shares		(232,273)
Unrealized gain (loss) on derivatives	40,902				40,902
Reclassification adjustment for amounts included in net loss	737				737
Equity based compensation	74		74
Equity based compensation, shares		3,946
Net loss	(12,618)			(12,618)
Balance at Dec. 31, 2022	$ 451,058	$ 36	$ 814,949	$ (398,097)	$ 34,170
Balance, shares at Dec. 31, 2022	36,184,058	36,184,058

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement Of Stockholders Equity [Abstract]
Distributions declared per share	$ 0.542400	$ 0.406800	$ 0.226875

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (12,618)	$ (2,503)	$ (10,388)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	55,319	48,906	52,834
Amortization of debt issuance costs and mortgage premiums, net	2,966	898	614
Amortization of acquired market leases, net	(818)	(773)	(2,073)
Amortization of equity based compensation	74	51	68
Reduction in the carrying amount of the right-of-use asset	417	443	465
Straight-line income, net	(705)	(442)	(1,769)
Other non-cash adjustments	122	103	55
Changes in assets and liabilities:
Accounts payable and accrued expenses	721	112	328
Accounts and rent receivable	(849)	3,733	(2,158)
Other assets	(3,697)	(983)	(1,067)
Due to related parties	1,452	(2,807)	339
Operating lease liability	320	361	339
Other liabilities	2,083	1,051	(447)
Net cash flows provided by operating activities	44,787	48,150	37,140
Cash flows from investing activities:
Purchase of investment properties	(277,880)
Proceeds from sale of investment properties			37,255
Capital expenditures	(12,404)	(5,883)	(4,021)
Other assets	(221)
Net cash flows (used in) provided by investing activities	(290,505)	(5,883)	33,234
Cash flows from financing activities:
Payment of credit facility	(24,444)	(8,097)	(83,022)
Proceeds from credit facility	422,444	72,097	31,000
Payment of mortgages payable	(138,250)	(98,074)	(928)
Proceeds from the distribution reinvestment plan	7,287	3,749	4,547
Shares repurchased	(3,645)	(2,777)	(2,405)
Distributions paid	(19,583)	(9,767)	(10,841)
Payment of debt issuance costs	(5,913)		(273)
Early termination of interest rate swap agreements, net	(227)
Net cash flows provided by (used in) financing activities	237,669	(42,869)	(61,922)
Net (decrease) increase in cash, cash equivalents and restricted cash	(8,049)	(602)	8,452
Cash, cash equivalents and restricted cash, at beginning of the year	13,383	13,985	5,533
Cash, cash equivalents and restricted cash, at end of the year	5,334	13,383	13,985
In conjunction with the purchase of investment property, the Company acquired assets and assumed liabilities as follows:
Land	62,510
Building and improvements	192,722
Acquired lease intangible assets	33,285
Acquired intangible liabilities	(9,654)
Assumed liabilities, net	(983)
Purchase of investment properties	277,880
Cash paid for interest, net of amounts capitalized	27,421	22,456	24,651
Supplemental schedule of non-cash investing and financing activities:
Accrued capital expenditures	$ 253	$ 199	$ 96

Organization

Organization	12 Months Ended
	Dec. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	NOTE 1 – OR GANIZATION Inland Real Estate Income Trust, Inc. (the “Company”) was formed on August 24, 2011 to acquire and manage a portfolio of commercial real estate investments located in the United States. The Company is primarily focused on acquiring and owning retail properties and targets a portfolio substantially all of would be comprised of grocery-anchored properties. The Company has invested in joint ventures and may continue to invest in additional joint ventures or acquire other real estate assets if its management believes the expected returns from those investments exceed that of retail properties. The Company also may invest in real estate-related equity securities of both publicly traded and private real estate companies, as well as commercial mortgage-backed securities. The Company has no employees. The Company is managed by IREIT Business Manager & Advisor, Inc. (the “Business Manager”), an indirect wholly owned subsidiary of Inland Real Estate Investment Corporation (the “Sponsor”), pursuant to a Business Management Agreement with the Business Manager. On February 11, 2019, the Company’s board of directors approved a strategic plan with the goals of providing future liquidity to investors and creating long-term stockholder value. The strategic plan centers around owning a portfolio of grocery-anchored properties with lower exposure to big box retailers. As part of this strategy, the Company's management team continually evaluates possibilities for the opportunistic sale of certain assets with the goal of redeploying capital into the acquisition of strategically located grocery-anchored centers. As part of this strategy, the Company’s management team and board sold three properties in January 2020, as further described in Note 5 – “Dispositions,” using the proceeds to pay down the Revolving Credit Facility. On May 17, 2022, the Company purchased a portfolio of eight properties from certain subsidiaries of Inland Retail Property Fund, LP as described in Note 4 – "Acquisitions." Seven of the eight properties are grocery-anchored. In connection with the strategic plan, the Company’s share repurchase program (as amended, the “SRP”) was amended and restated, effective March 21, 2019, and the Business Management Agreement with the Business Manager was amended and restated on February 11, 2019 to, among other things, eliminate all future acquisition and disposition fees. On March 3, 2020, the Company’s SRP was amended and restated (the “Third A&R SRP”), which became effective on April 10, 2020, as further described below in Note 3 – “Equity”. The Board considered the Company’s strategic initiatives and believed that the change in the Third A&R SRP that lowered the price paid for “Exceptional Repurchases” would permit the Company to preserve and deploy capital and help to position the Company to achieve its objective of maximizing stockholder value over the long term. The strategic plan may further evolve or change over time. Although the Company is not actively pursuing any new acquisitions as of the date of this annual report, if the Company were to have the requisite capital and financing available to it, it may opportunistically acquire retail properties that management believes complement its existing portfolio in terms of relevant characteristics such as tenant mix, demographics and geography and are consistent with the Company's plan to own a portfolio substantially all of which is comprised of grocery-anchored or shadow-anchored properties. Management may also consider other transactions, such as redeveloping certain properties or portions of certain properties, for example, big-box spaces, to repurpose them for alternative commercial or multifamily residential uses. The timing of the completion of the strategic plan has already extended beyond the management's original expectations and cannot be predicted with certainty. There is no assurance the Company will be able to successfully implement its strategic plan, for example by making strategic sales or purchases of properties or listing the Company’s common stock, within any timeframe the Company might prefer or at all. On March 6, 2023, as reported in the Company’s Form 8-K filed with the Securities and Exchange Commission on the same date, the Company announced that the Company’s board of directors unanimously approved: (i) an estimated per share net asset value (the “Estimated Per Share NAV”) as of December 31, 2022; (ii) the same per share purchase price for shares issued under the Company’s distribution reinvestment plan (as amended, the “DRP”) beginning with the first distribution payment to stockholders upon resumption of distributions and the DRP until the Company announces a new Estimated Per Share NAV, and (iii) that, in accordance with the SRP, beginning with repurchases in April 2023 and until the Company announces a new Estimated Per Share NAV, any shares accepted for ordinary repurchases and “exceptional repurchases” will be repurchased at 80 % of the Estimated Per Share NAV. Due to the uncertainty surrounding the COVID-19 pandemic and the need to preserve cash for the payment of operating and other expenses, such as debt payments, the Company’s board of directors had suspended distributions, rescinded the first quarter distribution that was previously declared and suspended the Company’s DRP and SRP until further notice. The suspension of the DRP was effective on June 6, 2020 and the suspension of the SRP was effective on June 26, 2020 . On June 29, 2021 , the Company announced the reinstatement, and lifting of the suspension, of its DRP. The effective date of the DRP reinstatement was July 22, 2021 . The Company also announced the reinstatement and lifting of the suspension of its SRP and its adoption of the fourth amendment and restatement of the SRP, with the first repurchase having occurred on August 16, 2021 . See Note 3 – “Equity” for additional details. At December 31, 2022, the Company owned 52 retail properties, totaling 7,168,022 square feet. The properties are located in 24 states. At December 31, 2022, the portfolio had a weighted average physical occupancy of 93.0 % and economic occupancy of 93.5 %.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General The consolidated financial statements have been prepared in accordance with GAAP and require 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. In the opinion of management, all adjustments necessary for a fair statement, in all material respects, of the financial position and results of operations for the periods are presented. Actual results could differ from those estimates. Information with respect to square footage and occupancy is unaudited. Significant Risks and Uncertainties related to COVID-19 Pandemic Due to the COVID-19 pandemic, a number of the Company's tenants had temporarily closed their stores during 2020 and requested rent deferral or rent abatement. The Company has been collecting this deferred rent during the years ended December 31, 2021 and 2022. The Company’s deferred rent balance is $ 35 at December 31, 2022, which is significantly lower than the deferred rent balance of $ 399 at December 31, 2021 due primarily to collections during the year ended December 31, 2022. The extent to which the COVID-19 pandemic further impacts the Company’s operations and those of the Company's tenants will depend on future developments, including the impact of the Delta, Omicron or other variants of COVID-19 in the U.S. The impact cannot be predicted with confidence, including the scope, severity and duration of the pandemic’s variants, the actions taken to contain the pandemic’s variants or mitigate their impact, and the direct and indirect economic effects of the pandemic’s variants and containment measures, among others. Consolidation The consolidated financial statements include the accounts of the Company, as well as all wholly owned subsidiaries. Wholly owned subsidiaries generally consist of limited liability companies (“LLCs”). All intercompany balances and transactions have been eliminated in consolidation. Each property is owned by a separate legal entity which maintains its own books and financial records and each entity’s assets are not available to satisfy the liabilities of other affiliated entities. The fiscal year-end of the Company is December 31. Acquisitions Upon acquisition of real estate investment properties, the Company allocates the total purchase price of each property that is accounted for as an asset acquisition based on the relative fair value of the tangible and intangible assets acquired and liabilities assumed based on Level 3 inputs, such as comparable sales values, discount rates, capitalization rates, revenue and expense growth rates and lease-up assumptions, from a third party appraisal or other market sources. The acquisition date is the date on which the Company obtains control of the real estate investment property and transaction costs are capitalized. Assets and liabilities acquired typically include land, building and site improvements and identified intangible assets and liabilities, consisting of the value of above market and below market leases and the value of in-place leases. The portion of the purchase price allocated to above market lease values is included in acquired lease intangible assets, net and is amortized on a straight-line basis over the term of the related lease as a reduction to rental income. The portion allocated to below market lease values is included in acquired intangible liabilities, net and is amortized as an increase to rental income over the term of the lease including any renewal periods with fixed rate renewals. The portion of the purchase price allocated to acquired in-place lease value is included in acquired lease intangible assets, net and is amortized on a straight-line basis over the acquired leases’ weighted average remaining term. The Company determines the fair value of the tangible assets consisting of land and buildings by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land and buildings. The Company determines the fair value of assumed debt by calculating the net present value of the mortgage payments using interest rates for debt with similar terms and maturities. Differences between the fair value and the stated value is recorded as a discount or premium and amortized over the remaining term using the effective interest method. Certain of the Company’s properties included earnout components to the purchase price, meaning the Company did not pay a portion of the purchase price of the property at closing, although the Company owns the entire property. The Company is not obligated to settle the contingent portion of the purchase price unless space which was vacant at the time of acquisition is later leased by the seller within the time limits and parameters set forth in the related acquisition agreements. The Company’s policy is to record earnout components when estimable and probable. At December 31, 2022, there is no earnout liability outstanding. Impairment of Investment Properties The Company assesses the carrying values of its respective long-lived assets whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. Recoverability of the assets is measured by comparison of the carrying amount of the asset to the estimated future undiscounted cash flows. In order to review its assets for recoverability, the Company considers current market conditions, as well as its intent with respect to holding or disposing of the asset. If the Company’s analysis indicates that the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, the Company recognizes an impairment charge for the amount by which the carrying value exceeds the current estimated fair value of the real estate property. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third party appraisals, where considered necessary (Level 3 inputs). The Company estimates the future undiscounted cash flows based on management’s intent as follows: (i) for real estate properties that the Company intends to hold long-term, including land held for development, properties currently under development and operating buildings, recoverability is assessed based on the estimated future net rental income from operating the property and termination value; and (ii) for real estate properties that the Company intends to sell, including land parcels, properties currently under development and operating buildings, recoverability is assessed based on estimated net proceeds, including net rental income during the holding period, from disposition that are estimated based on future net rental income of the property and utilizing expected market capitalization rates. The use of projected future cash flows is based on assumptions that are consistent with management's estimates of future expectations and the strategic plan the Company uses to manage its underlying business. However, assumptions and estimates about future cash flows, including comparable sales values, discount rates, capitalization rates, revenue and expense growth rates and lease-up assumptions which impact the discounted cash flow approach to determining value are complex and subjective. Changes in economic and operating conditions and the Company’s ultimate investment intent that occur subsequent to the impairment analysis could impact these assumptions and result in future impairment charges of real estate properties. On a quarterly basis, management assesses whether there are any indicators that the carrying value of the Company’s investment in unconsolidated entities and notes receivable may be other than temporarily impaired as a loss in value that is other than a temporary decline is required to be recognized. Indicators include significant delays in construction, significant costs over budget and financial concerns. To the extent indicators suggest that a loss in value may have occurred, the Company will evaluate both quantitative and qualitative factors to determine if the loss in value is other than temporary. If a potential loss in value is determined to be other than temporary, the Company will recognize an impairment loss based on the estimated fair value of the investment. During the years ended December 31, 2022, 2021 and 2020 the Company did no t record any impairment charges. REIT Status The Company elected to be taxed as a real estate investment trust (“REIT”) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, for federal income tax purposes commencing with the tax year ended December 31, 2013. Commencing with such taxable year, the Company was organized and began operating in such a manner as to qualify for taxation as a REIT under the Internal Revenue Code and believes it has so qualified. As a result, the Company generally will not be subject to federal income tax on taxable income that is distributed to stockholders. A REIT is subject to a number of organizational and operational requirements, including a requirement that it currently distributes at least 90% of its REIT taxable income (subject to certain adjustments and excluding any net capital gain) to its stockholders. The Company will monitor the business and transactions that may potentially impact its REIT status. If the Company fails to qualify as a REIT in any taxable year, without the benefit of certain statutory relief provisions, the Company will be subject to tax as a “C corporation.” Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income, property or net worth and federal income and excise taxes. Any taxable REIT subsidiaries generally will be subject to federal income tax applicable to “C corporations.” Cash and Cash Equivalents The Company considers all demand deposits, money market accounts and all short-term investments with a maturity of three months or less, at the date of purchase, to be cash equivalents. The account balance may exceed the Federal Deposit Insurance Corporation (“FDIC”) insurance coverage and, as a result, there could be a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. The Company believes that the risk will not be significant, as the Company does not anticipate the financial institutions’ non-performance. Restricted Cash Amounts included in restricted cash represent those required to be set aside by lenders for real estate taxes, insurance, capital expenditures and tenant improvements on the Company's existing properties. These amounts also include post close escrows for tenant improvements, leasing commissions, master lease, general repairs and maintenance, and are classified as restricted cash on the Company’s consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Company’s consolidated balance sheets to such amounts shown on the Company’s consolidated statements of cash flows: December 31, 2022 2021 Cash and cash equivalents $ 4,857 $ 8,229 Restricted cash 477 5,154 Total cash, cash equivalents, and restricted cash $ 5,334 $ 13,383 Accounts and Rents Receivable The Company takes into consideration certain factors that require judgments to be made as to the collectability of receivables. Collectability factors taken into consideration are the amounts outstanding and payment history of the tenant. The Company includes both billed and accrued charges in its evaluation of the collectability of a tenant’s receivable balance. For tenant receivables that the Company determines to be uncollectable, the Company records an offset for uncollectable tenant revenues directly to rental income. Capitalization and Depreciation Real estate properties held and used are recorded at cost less accumulated depreciation. Real estate properties held for sale are recorded at the lesser of their carrying value or fair value less selling costs. Improvement and betterment costs are capitalized, and ordinary repairs and maintenance are expensed as incurred. Real estate properties are classified as held for sale when the Company concludes that a sale is likely. Criteria that may be considered in this determination include obtaining a signed purchase and sale agreement, the completion and waiving of due diligence by the seller, and the receipt of non-refundable earnest money from the seller. Cost capitalization and the estimate of useful lives require judgment and include significant estimates that can and do change. Depreciation expense is computed using the straight-line method. The Company anticipates the estimated useful lives of its assets by class to be generally: Building and other improvements 30 years Site improvements 5 - 15 years Furniture, fixtures and equipment 5 - 15 years Tenant improvements Shorter of the life of the asset or the term of the related lease Leasing fees Term of the related lease Depreciation expense was $ 43,331 , $ 37,806 and $ 37,495 for the years ended December 31, 2022, 2021 and 2020, respectively. Amortization of leasing fees were $ 876 , $ 731 , and $ 615 for the years ended December 31, 2022, 2021 and 2020, respectively. Debt Issuance Costs Debt issuance costs are amortized on a straight-line basis, which approximates the effective interest method, over the term, or anticipated repayment date, of the related agreements as a component of interest expense. These costs are reported as a direct deduction to the Company’s outstanding mortgages and credit facility payable. Fair Value Measurements The Company has estimated fair value using available market information and valuation methodologies the Company believes to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that would be realized upon disposition. The Company defines fair value based on the price that it believes would be received upon sale of an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value. The fair value hierarchy consists of three broad levels, which are described below: Level 1 − Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. Level 2 − Observable inputs, other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 − Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Company’s cash equivalents, accounts receivable and payables and accrued expenses all approximate fair value due to the short term nature of these financial instruments. The Company’s financial instruments measured on a recurring basis include derivative interest rate instruments. Derivatives The Company uses derivative instruments, such as interest rate swaps, primarily to manage exposure to interest rate risks inherent in variable rate debt. The Company may also enter into forward starting swaps or treasury lock agreements to set the effective interest rate on a planned fixed-rate financing. The Company’s interest rate swaps involve the receipt of variable-rate 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. In a forward starting swap or treasury lock agreement that the Company cash settles in anticipation of a fixed rate financing or refinancing, the Company will receive or pay an amount equal to the present value of future cash flow payments based on the difference between the contract rate and market rate on the settlement date. The Company does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated as hedging instruments under the accounting requirements for derivatives and hedging. Revenue Recognition The Company commences revenue recognition for its operating leases on the commencement date of the lease, which the Company considers is the date on which it makes the leased space available to the lessee. The determination of who is the owner, for accounting purposes, of the tenant improvements determines the nature of the leased asset. If the Company is the owner, for accounting purposes, of the tenant improvements, then the tenant improvements are capitalized and depreciated over the life of the lease. If the Company concludes it is not the owner, for accounting purposes, of the tenant improvements (the lessee is the owner), then the leased asset is the unimproved space and any tenant improvement allowances funded by the Company under the lease are treated as lease incentives which reduce revenue recognized over the term of the lease. The Company considers a number of different factors to evaluate whether it or the lessee is the owner of the tenant improvements for accounting purposes. Rental income is recognized on a straight-line basis over the term of each lease. The difference between rental income earned on a straight-line basis and the cash rent due under the provisions of the lease agreements is recorded as deferred rent receivable and is included as a component of accounts and rent receivable on the consolidated balance sheets. Due to the impact of the straight-line basis, rental income generally will be greater than the cash collected in the early years and will decrease in the later years of a lease. Reimbursements from tenants for recoverable real estate tax and operating expenses are accrued as revenue in the period the applicable expenses are incurred. The Company makes certain assumptions and judgments in estimating the reimbursements at the end of each reporting period. The Company does not expect the actual results to materially differ from the estimated reimbursement. The Company made the election for these reimbursements, which are non-lease components, to be combined with rental income. The Company records lease termination income if there is a signed termination agreement, all of the conditions of the agreement have been met and amounts due are considered collectable. Such termination fees are recognized on a straight-line basis over the remaining lease term in rental income. As a lessor, the Company defers the recognition of contingent rental income, such as percentage rent, until the specified target that triggered the contingent rental income is achieved. Equity-Based Compensation The Company has restricted shares and units outstanding at December 31, 2022 and 2021. The Company recognizes expense related to the fair value of equity-based compensation awards as general and administrative expense on the consolidated statements of operations and comprehensive loss. The Company primarily recognizes expense based on the fair value at the grant date on a straight-line basis over the vesting period representing the requisite service period and adjusts expense for forfeitures as they occur. See Note 8 – "Equity-Based Compensation" for further information. Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) . ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, the Company has elected to apply the hedge accounting expedients related to probability and the assessments of the effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A grants relief to entities, allowing them an election to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under Topic 842, Leases. An entity that makes this election can then elect whether to apply the modification guidance (i.e. assume the relief was always contemplated by the contract or assume the relief was not contemplated by the contract). Both lessees and lessors may make this election. The Company has elected to apply such relief and will avail itself of the election to avoid performing a lease by lease analysis.

Equity

Equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Equity	NOTE 3 – EQUITY The Company commenced an initial public “best efforts” offering (the “Offering”) on October 18, 2012, which concluded on October 16, 2015. The Company sold 33,534,022 shares of common stock generating gross proceeds of $ 834,399 from the Offering. On March 2, 2023, the Company’s board of directors determined an estimated per share NAV of the Company’s common stock as of December 31, 2022. The previously estimated per share NAV of the Company’s common stock as of December 31, 2021 was established on March 4, 2022. The Company provides the following programs to facilitate additional investment in the Company’s shares and to provide limited liquidity for stockholders. Distribution Reinvestment Plan On October 19, 2015, the Company registered 25,000,000 shares of common stock to be issued under its distribution reinvestment plan (“DRP”) pursuant to a registration statement on Form S-3D. The Company provides stockholders with the option to purchase additional shares from the Company by automatically reinvesting cash distributions through the DRP, subject to certain share ownership restrictions. The Company does not pay any selling commissions or a marketing contribution and due diligence expense allowance in connection with the DRP. Pursuant to the DRP, the price per share for shares of common stock purchased under the DRP is equal to the estimated value of a share, as determined by the Company’s board of directors and reported by the Company from time to time, until the shares become listed for trading, if a listing occurs, assuming that the DRP has not been terminated or suspended in connection with such listing. Distributions reinvested through the DRP were $ 7,287 , $ 3,749 and $ 4,547 for the years ended December 31, 2022, 2021 and 2020, respectively. The DRP was suspended during a majority of 2020 and the first half of 2021 as discussed in Note 1 – “Organization.” Share Repurchase Program The Company adopted a share repurchase program (as amended, “SRP”) effective October 18, 2012, under which the Company is authorized to purchase shares from stockholders who purchased their shares from the Company or received their shares through a non-cash transfer and who have held their shares for at least one year . Purchases are in the Company’s sole discretion. In the case of repurchases made upon the death of a stockholder or qualifying disability (“Exceptional Repurchases”), as defined in the SRP, the one year holding period does not apply. The SRP was amended and restated effective January 1, 2018 to change the processing of repurchase requests from a monthly to a quarterly basis to align with the move to quarterly distributions. On February 11, 2019, the Company’s board of directors adopted a second amended and restated SRP, effective March 21, 2019. On March 3, 2020 the Company’s board of directors adopted the Third A&R SRP. Under the Third A&R SRP, the Company is authorized to make ordinary repurchases and Exceptional Repurchases at a price equal to 80.0 % of the “share price,” which is defined in the Third A&R SRP as an amount equal to the lesser of: (A) $ 25 , as adjusted under certain circumstances, including, among other things, if the applicable shares were purchased from the Company at a discounted price; or (B) the most recently disclosed estimated value per share. Prior to the amendment, the Company was authorized to make Exceptional Repurchases at a price equal to 100 % of the “share price.” The Third A&R SRP provides the Company’s board of directors with the discretion to reduce the funding for share repurchases. The Third A&R SRP limits the dollar amount for any repurchases made by the Company each calendar quarter to an amount equal to a percentage of the net proceeds from the DRP during the applicable quarter determined in the sole discretion of the board on a quarterly basis but that will not be less than 50 %. The Company continues to limit the number of shares repurchased during any calendar year to 5 % of the number of shares outstanding on December 31st of the previous calendar year, as adjusted for any stock splits or other combinations. The Company’s board of directors suspended the SRP effective June 26, 2020. On June 29, 2021, the Company announced the lifting of the suspension of its share repurchase program and adopted the fourth amendment and restatement of the SRP. The effective date of the reinstatement and the Fourth Amended and Restated Share Repurchase Program (the “Fourth SRP”) was August 12, 2021. Pursuant to the Fourth SRP, any written request for treatment as an Exceptional Repurchase due to the death or qualifying disability of an owner that occurred between June 1, 2019 and May 31, 2020 (inclusive) was timely if received by the Company no later than January 31, 2022, and any written request for treatment as an Exceptional Repurchase due to the death or qualifying disability of an owner that occurred between June 1, 2020 and July 31, 2021, (inclusive) was timely if received by the Company no later than July 31, 2022. If either or both of the repurchase limitations prevent the Company from repurchasing all of the shares offered for repurchase during a calendar quarter, the Company will repurchase shares, on a pro rata basis within each category below, in accordance with the repurchase limitations in the following order: (a) first, all Exceptional Repurchases and (b) second, all ordinary repurchases. The SRP will immediately terminate if the Company’s shares become listed for trading on a national securities exchange. In addition, the Company’s board of directors, in its sole discretion, may, at any time, amend, suspend or terminate the SRP. For any quarter ended, unfulfilled repurchase requests will be included in the list of requests for the following quarter unless the request is withdrawn in accordance with the SRP. However, each stockholder who has submitted a repurchase request must submit an acknowledgment annually after the Company publishes a new estimated value per share acknowledging, among other things, that the stockholder wishes to maintain the request. If the Company does not receive the acknowledgment prior to the repurchase date, it will deem the request to have been withdrawn. Repurchases through the SRP were $ 3,645 , $ 2,777 and $ 127 for the years ended December 31, 2022, 2021 and 2020, respectively. At December 31, 2022 and 2021, the liability related to the SRP was $ 0 . See Note 1 – “Organization” for further discussion on the suspension during 2020 and resumption during 2021 of the SRP.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Acquisition	NOTE 4 – ACQUISITIONS 2022 Acquisitions On May 17, 2022, the Company acquired a portfolio of eight properties (the “IRPF Properties”) from certain subsidiaries of Inland Retail Property Fund, LP (the “Seller”). The acquisition of the IRPF Properties is referred to herein as the “Transaction.” The IRPF Properties are leased primarily to grocery, retail and restaurant tenants. More specifically, seven of the IRPF Properties are grocery-anchored. The IRPF Properties are located across seven states and aggregate approximately 686,851 square feet. The Seller is a fund managed by an affiliate of the Company’s sponsor and business manager. Because the Transaction was a related party transaction, it was approved by all of the Company’s independent directors. The following table provides further details of the properties acquired during the year ended December 31, 2022: Date Property Name Number of Transactions Number of Properties Square Purchase 5/17/2022 IRPF Properties 1 8 686,851 $ 278,153 686,851 $ 278,153 (a) Contractual purchase price excluding closing credits . The above acquisition was accounted for as an asset acquisition. For the year ended December 31, 2022, the Company incurred $ 710 of total acquisition costs. All of the acquisition costs are capitalized in the accompanying consolidated balance sheets. These costs include third party due diligence costs such as appraisals, environmental studies, and legal fees as well as time and travel expense reimbursements to the Sponsor and its affiliates. For properties acquired during the year ended December 31, 2022, the Company recorded total income of $ 14,640 and property net income of $ 9,286 . The following table presents certain additional information regarding the Company’s acquisitions during the year ended December 31, 2022. The amounts recognized for major assets acquired and liabilities assumed as of the acquisition date are as follows: Year Ended December 31, 2022 Land $ 62,510 Building and improvements 192,722 Acquired lease intangible assets 33,285 Acquired intangible liabilities ( 9,654 ) Assumed liabilities, net ( 983 ) Total $ 277,880

Dispositions

Dispositions	12 Months Ended
	Dec. 31, 2022
Assets Of Disposal Group Including Discontinued Operation [Abstract]
Dispositions	NOTE 5 – DISPOSITIONS In connection with the strategic plan, the Company completed the sale of three properties in January 2020, generating proceeds of $ 37,255 net of selling costs.

Acquired Intangible Assets and

Acquired Intangible Assets and Liabilities	12 Months Ended
	Dec. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Acquired Intangible Assets and Liabilities	NOTE 6 – ACQUIRED INTANGIBLE ASSETS AND LIABILITIES The following table summarizes the Company’s identified intangible assets and liabilities as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Intangible assets: Acquired in-place lease value $ 183,305 $ 156,918 Acquired above market lease value 52,640 45,742 Accumulated amortization ( 158,984 ) ( 144,457 ) Acquired lease intangibles, net $ 76,961 $ 58,203 Intangible liabilities: Acquired below market lease value $ 79,914 $ 70,260 Accumulated amortization ( 36,575 ) ( 32,342 ) Acquired below market lease intangibles, net $ 43,339 $ 37,918 The portion of the purchase price allocated to acquired above market lease value and acquired below market lease value is amortized on a straight-line basis over the term of the related lease as an adjustment to rental income. For below market lease values, the amortization period includes any renewal periods with fixed rate renewals. The portion of the purchase price allocated to acquired in-place lease value is amortized on a straight-line basis over the acquired leases’ weighted average remaining term. Amortization pertaining to acquired in-place lease value, above market ground lease, above market lease value and below market lease value is summarized below: Amortization recorded as amortization expense: 2022 2021 2020 Acquired in-place lease value $ 11,112 $ 10,369 $ 14,724 Amortization recorded as a (reduction) increase to rental Acquired above market leases $ ( 3,415 ) $ ( 2,966 ) $ ( 3,089 ) Acquired below market leases 4,233 3,739 5,162 Net rental income increase $ 818 $ 773 $ 2,073 Estimated amortization of the respective intangible lease assets and liabilities as of December 31, 2022 for each of the five succeeding years and thereafter is as follows: Acquired Above Below 2023 $ 10,861 $ 3,561 $ 3,639 2024 9,273 3,323 3,509 2025 6,873 2,937 3,263 2026 5,121 2,510 3,125 2027 3,666 1,860 2,895 Thereafter 16,823 10,153 26,908 Total $ 52,617 $ 24,344 $ 43,339

Debt and Derivative Instruments

Debt and Derivative Instruments	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt and Derivative Instruments	NOTE 7 – DEBT AND DERIVATIVE INSTRUMENTS As of December 31, 2022 and 2021, the Company had the following mortgages and credit facility payable: December 31, 2022 December 31, 2021 Type of Debt Principal Weighted Principal Weighted Fixed rate mortgages payable $ 112,345 3.84 % $ 118,463 3.88 % Variable rate mortgages payable with swap agreements 67,348 3.71 % 198,796 3.42 % Variable rate mortgages payable — 0.00 % 684 1.70 % Mortgages payable $ 179,693 3.79 % $ 317,943 3.59 % Credit facility payable 677,000 4.56 % 279,000 3.03 % Total debt before unamortized mortgage premiums and $ 856,693 4.40 % $ 596,943 3.33 % Add: Unamortized mortgage premiums — 17 Less: Unamortized debt issuance costs ( 4,348 ) ( 1,418 ) Total debt $ 852,345 $ 595,542 The Company’s indebtedness bore interest at a weighted average interest rate of 4.40 % per annum at December 31, 2022, which includes the effects of interest rate swaps. The Company estimates the fair value of its total debt by discounting the future cash flows of each instrument at rates currently offered for similar debt instruments of comparable maturities by the Company’s lenders using Level 3 inputs. The carrying value of the Company’s debt excluding mortgage premium and unamortized debt issuance costs was $ 856,693 and $ 596,943 as of December 31, 2022 and 2021, respectively, and its estimated fair value was $ 847,652 and $ 591,089 as of December 31, 2022 and 2021, respectively. As of December 31, 2022, scheduled principal payments and maturities on the Company’s debt were as follows: December 31, 2022 Scheduled Principal Payments and Maturities by Year: Scheduled Maturities of Maturity Total 2023 $ 326 $ 41,348 $ — $ 41,674 2024 341 — — 341 2025 295 92,656 — 92,951 2026 — 44,727 102,000 146,727 2027 — — 575,000 575,000 Thereafter — — — — Total $ 962 $ 178,731 $ 677,000 $ 856,693 Credit Facility Payable On February 3, 2022, the Company entered into a second amended and restated credit agreement (the “Credit Agreement”) with KeyBank National Association, individually and as administrative agent, KeyBanc Capital Markets Inc., PNC Capital Markets LLC and BofA Securities, Inc., as joint lead arrangers, and other lenders from time to time parties to the Credit Agreement (the “Credit Facility”). Pursuant to the Credit Agreement, the aggregate total commitments under the Credit Facility were increased from $ 350,000 to $ 475,000 . The Company’s Credit Facility consists of the “Revolving Credit Facility” providing revolving credit commitments in an aggregate amount of $ 200,000 and a term loan facility (the term loans funded under such commitments, the “Term Loan”) providing term loan commitments in an aggregate amount of $ 275,000 (increased from $ 150,000 ). On May 17, 2022, the Company entered into a First Amendment to Credit Agreement Regarding Incremental Term Loans (the “First Amendment”), amending the terms of the Credit Agreement primarily to draw an additional $ 300,000 to fund the acquisition of investment properties during May 2022 discussed in “Note 4 – Acquisitions.” The Credit Agreement provides the Company with the ability from time to time to increase the size of the Credit Facility up to a total of $ 1,200,000 , subject to certain conditions. At December 31, 2022, the Company had $ 102,000 outstanding under the Revolving Credit Facility and $ 575,000 outstanding under the Term Loan. At December 31, 2022 the interest rates on the Revolving Credit Facility and the Term Loan were 6.12 % and 4.28 %, respectively. The Revolving Credit Facility matures on February 3, 2026 , and the Company has the option to extend the maturity date for one additional year subject to the payment of an extension fee and certain other conditions. The Term Loan matures on February 3, 2027 . As of December 31, 2022 the Company had a maximum amount of $ 98,000 available for borrowing under the Revolving Credit Facility, subject to the terms and conditions of the Credit Agreement that governs the Credit Facility, including compliance with the covenants which could further limit the amount available. Although all of the amount available under the Revolving Credit Facility is available to pay off existing mortgages, due to the covenant limitations, the Company expects to have substantially less than all $ 98,000 available to draw or otherwise undertake as additional debt as a result of, among other things, completing the aforementioned Transaction and increasing the amount of the Term Loan. The Company’s performance of the obligations under the Credit Facility, including the payment of any outstanding indebtedness under the Credit Facility, is guaranteed by certain subsidiaries of the Company, including each of the subsidiaries of the Company which owns or leases any of the properties included in the pool of unencumbered properties comprising the borrowing base. Additional properties will be added to and removed from the pool from time to time to support amounts borrowed under the Credit Facility so long as at any time there are at least fifteen unencumbered properties with an unencumbered pool value of $ 300,000 or more. At December 31, 2022, there were 46 properties included in the pool of unencumbered properties. The Credit Facility requires compliance with certain covenants, including a minimum tangible net worth requirement, a limitation on the use of leverage, a distribution limitation, restrictions on indebtedness and investment restrictions, as defined. It also contains customary default provisions including the failure to comply with the Company's covenants and the failure to pay when amounts outstanding under the Credit Facility become due. As of December 31, 2022, the Company is in compliance with all financial covenants related to the Credit Facility as amended. Mortgages Payable The mortgage loans require compliance with certain covenants, such as debt service ratios, investment restrictions and distribution limitations. As of December 31, 2022, the Company was current on all of its debt service payments and in compliance with all financial covenants. All of the Company’s mortgage loans are secured by first mortgages on the respective real estate assets. As of December 31, 2022, the weighted average years to maturity for the Company’s mortgages payable was 2.4 years. For mortgage loans maturing in the next twelve months, the Company intends to repay amounts due with cash flows from operating activities, cash on hand or proceeds available under the Revolving Credit Facility. Interest Rate Swap Agreements The Company entered into interest rate swaps to fix certain of its floating LIBOR and SOFR based debt under variable rate loans to a fixed rate to manage its risk exposure to interest rate fluctuations. The Company will generally match the maturity of the underlying variable rate debt with the maturity date on the interest swap. See Note 15 – "Fair Value Measurements" for further information. The following table summarizes the Company’s interest rate swap contracts outstanding as of December 31, 2022. Date Effective Maturity Receive Floating Rate Index (a) Pay Notional Fair Value at 31, Assets June 7, 2016 July 1, 2016 July 1, 2023 1-month LIBOR 1.42 % 41,348 694 December 5, 2022 December 1, 2022 January 1, 2026 1-month Term SOFR 2.25 % 26,000 1,291 February 3, 2022 March 1, 2022 February 3, 2027 1-month Term SOFR 1.69 % 90,000 7,127 February 3, 2022 March 1, 2022 February 3, 2027 1-month Term SOFR 1.85 % 100,000 7,320 February 3, 2022 March 1, 2022 February 3, 2027 1-month Term SOFR 1.72 % 85,000 6,673 May 17, 2022 June 1, 2022 February 3, 2027 1-month Term SOFR 2.71 % 60,000 2,467 May 17, 2022 June 1, 2022 February 3, 2027 1-month Term SOFR 2.71 % 60,000 2,465 May 17, 2022 June 1, 2022 February 3, 2027 1-month Term SOFR 2.71 % 75,000 3,083 May 17, 2022 June 1, 2022 February 3, 2027 1-month Term SOFR 2.77 % 55,000 2,154 $ 592,348 $ 33,274 (a) At December 31, 2022, the one-month LIBOR and the one-month term SOFR were 4.39 % and 4.36 %, respectively. The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and comprehensive loss for the years ended December 31, 2022, 2021 and 2020. Year Ended December 31, Derivatives in Cash Flow Hedging Relationships: 2022 2021 2020 Effective portion of derivatives $ 40,902 $ 2,445 $ ( 16,497 ) Reclassification adjustment for amounts included in net gain or loss (effective portion) $ 737 $ 7,654 $ 5,837 The total amount of interest expense presented on the consolidated statements of comprehensive loss was $ 33,069 , $ 23,240 and $ 25,349 for the years ended December 31, 2022, 2021 and 2020, respectively. The location of the net gain or loss reclassified into income from accumulated other comprehensive loss is reported in interest expense on the consolidated statements of comprehensive loss. The amount that is expected to be reclassified from accumulated other comprehensive loss into income in the next 12 months is $ 13,712 .

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-Based Compensation	NOTE 8 – EQUITY-BASED COMPENSATION Under the Company’s Employee and Director Restricted Share Plan (“RSP”), restricted shares and restricted share units generally vest over a one to three year vesting period from the date of the grant, subject to the specific terms of the grant. On November 8, 2022, the Company issued 4,752 restricted shares to its independent directors pursuant to the automatic grant provisions of the RSP, which become vested in equal installments of 33-1/3 % on each of the first three anniversaries of November 8, 2022, subject to certain exceptions. In accordance with the RSP, restricted shares were issued to non-employee directors as compensation. Each restricted share and restricted share unit entitles the holder to receive one common share when it vests. Restricted shares and restricted share units are included in common stock outstanding on the date of the vesting. The grant-date value of the restricted shares and restricted share units is amortized over the vesting period representing the requisite service period. Compensation expense associated with the restricted shares and restricted share units issued to the non-employee directors was $ 74 , $ 51 and $ 68 in the aggregate, for the years ended December 31, 2022, 2021 and 2020, respectively. As of December 31, 2022, the Company had $ 119 of unrecognized compensation expense related to the unvested restricted shares and restricted share units, in the aggregate. The weighted average remaining period that compensation expense related to unvested restricted shares and restricted share units will be recognized is 1.7 years. The total fair value at the vesting date for restricted shares and restricted share units that vested during the years ended December 31, 2022, 2021 and 2020 was $ 80 , $ 58 and $ 48 , respectively. A summary of the Company’s restricted share and restricted share unit activity during the years ended December 31, 2022, 2021 and 2020 is as follows: Restricted Restricted Outstanding at December 31, 2019 3,906 1,480 Granted (at grant date fair value of $ 18.15 per share) 4,408 — Vested ( 1,857 ) ( 797 ) Outstanding at December 31, 2020 6,457 683 Granted (at grant date fair value of $ 18.08 per share) 4,425 4 Vested ( 2,774 ) ( 435 ) Outstanding at December 31, 2021 8,108 252 Granted (at grant date fair value of $ 20.20 per share) 4,752 4 Vested ( 3,688 ) ( 256 ) Outstanding at December 31, 2022 9,172 —

Income Tax and Distributions

Income Tax and Distributions	12 Months Ended
	Dec. 31, 2022
Income Tax And Distributions [Abstract]
Income Tax and Distributions	NOTE 9 – INCOME TAX AND DISTRIBUTIONS The Company qualifies as a REIT under the Internal Revenue Code of 1986, as amended, for federal income tax purposes. In order to maintain the Company’s status as a REIT, the Company must annually distribute at least 90 % of its REIT taxable income, subject to certain adjustments and excluding any net capital gain, to its stockholders. For the years ended December 31, 2022, 2021 and 2020, the Company’s REIT taxable income (loss) was $ 59 (unaudited), $ 4,154 (unaudited) and $( 11,950 ) (unaudited), respectively. The Company had no uncertain tax positions as of December 31, 2022 or 2021. The Company expects no significant increases or decreases in uncertain tax positions due to changes in tax positions within one year of December 31, 2022. The Company had no interest or penalties relating to income taxes recognized on the consolidated statements of operations and comprehensive loss for the years ended December 31, 2022, 2021 or 2020. As of December 31, 2022, returns for the calendar years 2019 , 2020, 2021 and 2022 remain subject to examination by U.S. and various state and local tax jurisdictions. During the year ended December 31, 2018, the Company recorded a $ 15,405 impairment for the Mainstreet JV recorded on its consolidated statement of operations and comprehensive loss. The Company’s investment in Mainstreet JV was held through a taxable REIT subsidiary. Based on an effective tax rate of 28.51 %, which is calculated by combining a 21 % Federal tax rate and an IL tax rate of 7.51 % ( 9.5 % state rate net of the Federal benefit), the deferred tax benefit related to the impairment was approximately $ 4,400 . Since the taxable REIT subsidiary did not conduct any activities outside the investment in Mainstreet JV, management concluded it was not more likely than not that the taxable REIT subsidiary would be able to utilize these losses in future tax periods and recorded a full valuation allowance of $ 4,400 during the year ended December 31, 2018. The Mainstreet JV was liquidated for income tax purposes in 2019, resulting in a $ 1,560 reduction in the deferred tax asset and valuation allowance. Since the taxable REIT subsidiary has no other activity, a valuation allowance has been maintained on the remaining $ 2,840 deferred tax asset. No income tax expense or benefit was recorded during the years ended December 31, 2022, 2021 or 2020. The taxable REIT subsidiary has $ 9,931 of capital loss carryforwards that expire in 2024 . CARES Act and CAA On March 27, 2020 and December 27, 2020, the President of the United States signed and enacted into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Consolidated Appropriations Act, 2021 (CAA). Among other provisions, the CARES Act and the CAA provide relief to U.S. federal corporate taxpayers through temporary adjustments to net operating loss rules, changes to limitations on interest expense deductibility, and the acceleration of available refunds for minimum tax credit carryforwards. The CARES Act and the CAA did not have a material effect on the Company’s consolidated financial statements. Distributions In 2020, due to the uncertainty surrounding the COVID-19 pandemic and the need to preserve cash for the payment of operating and other expenses, during the second quarter the Company’s board of directors rescinded the first quarter distribution and suspended distributions until June 29, 2021 , when the Company declared a distribution to stockholders of record as of June 30, 2021 in the amount of $ 0.135600 per share, that was paid on or about July 26, 2021 . On or about October 7, 2021 , the Company paid a distribution to stockholders of record as of September 30, 2021 in the amount of $ 0.135600 per share. On or about January 7, 2022 , the Company paid a distribution to stockholders of record as of December 31, 2021 in the amount of $ 0.135600 per share. In 2022, the Company paid quarterly distributions in an amount equal to $ 0.135600 per share, which represented an annualized rate of 3 % based on the previously estimated per share NAV as of December 31, 2021, payable in arrears the following quarter. The table below presents the distributions declared and paid or rescinded during the years ended December 31, 2022, 2021 and 2020. December 31, 2022 2021 2020 Distributions paid $ 19,583 $ 9,767 $ 10,841 Distributions declared $ 19,602 $ 14,655 $ 8,173 Distributions rescinded $ — $ — $ ( 8,173 ) For federal income tax purposes, distributions may consist of ordinary dividend income, qualified dividend income, non-taxable return of capital, capital gains or a combination thereof. Distributions to the extent of the Company’s current and accumulated earnings and profits for federal income tax purposes are taxable to the recipient as either ordinary dividend income or, if so declared by the Company, qualified dividend income or capital gain dividends. Distributions in excess of these earnings and profits (calculated for income tax purposes) constitute a non-taxable return of capital rather than ordinary dividend income or a capital gain dividend and reduce the recipient’s tax basis in the shares to the extent thereof. Distributions in excess of earnings and profits that reduce a recipient’s tax basis in the shares have the effect of deferring taxation of the amount of the distribution until the sale of the stockholder’s shares. If the recipient's tax basis is reduced to zero, distributions in excess of the aforementioned earnings and profits (calculated for income tax purposes) constitute taxable gain. The following table sets forth the taxability of distributions on common shares, on a per share basis, paid in 2022, 2021 and 2020: 2022 2021 2020 Ordinary income $ — $ 0.12 $ — Capital gain $ — $ — $ — Nontaxable return of capital $ 0.54 $ 0.15 $ 0.30

Earnings (Loss) per Share

Earnings (Loss) per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings (Loss) per Share	NOTE 10 – EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period (the “common shares”). Diluted EPS is computed by dividing net income (loss) by the common shares plus common share equivalents. The Company excludes antidilutive restricted shares and units from the calculation of weighted-average shares for diluted EPS. As a result of a net loss for the years ended December 31, 2022, 2021 and 2020, 7,664 shares, 4,304 shares and 4,287 shares, respectively, were excluded from the computations of diluted EPS, because they would have been antidilutive.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 11 – COMMITMENTS AND CONTINGENCIES The Company may be subject, from time to time, to various legal proceedings and claims that arise in the ordinary course of business. While the resolution of these matters cannot be predicted with certainty, management believes, based on currently available information, that the final outcome of such matters will not have a material adverse effect on the consolidated financial statements of the Company.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Reporting	NOTE 12 – SEGMENT REPORTING The Company has one reportable segment, retail real estate, as defined by GAAP for the years ended December 31, 2022, 2021 and 2020.

Transactions with Related Parti

Transactions with Related Parties	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Transactions With Related Parties	NOTE 13 – TRANSACTIONS WITH RELATED PARTIES The following table summarizes the Company’s related party transactions for the years ended December 31, 2022, 2021 and 2020. Certain compensation and fees payable to the Business Manager for services provided to the Company are limited to maximum amounts. Year ended December 31, Unpaid amounts (f) as of 2022 2021 2020 December 31, 2022 December 31, 2021 General and administrative reimbursements (a) $ 1,664 $ 1,409 $ 1,505 $ 241 $ 209 Loan costs (b) $ 42 $ — $ — $ — $ — Acquisition related costs (c) $ 19 $ — $ — $ — $ — Real estate management fees $ 5,127 $ 4,734 $ 4,168 $ — $ — Property operating expenses 1,446 1,321 1,585 24 — Construction management fees 82 66 44 45 — Leasing fees 440 284 238 132 87 Total real estate management related costs (d) $ 7,095 $ 6,405 $ 6,035 $ 201 $ 87 Business management fees (e) $ 10,212 $ 8,950 $ 8,924 $ 2,713 $ 2,241 (a) The Business Manager and its related parties are entitled to reimbursement for certain general and administrative expenses incurred by the Business Manager or its related parties relating to the Company’s administration. Such costs are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties on the consolidated balance sheets. (b) The Business Manager and its related parties are entitled to reimbursement for certain legal costs related to securing financing for the Company. Such costs are capitalized as debt issuance costs on the consolidated balance sheets and amortized into interest expense on the consolidated statements of operations and comprehensive income over the term of the related financing. Unpaid amounts are included in due to related parties in the consolidated balance sheets. (c) The Business Manager and its related parties are reimbursed for acquisition and transaction related costs of the Business Manager and its related partied relating to the Company’s acquisition activities, regardless of whether the Company acquires the real estate assets. All of the $ 19 related party acquisition costs incurred during the year ended December 31, 2022 are capitalized in the accompanying consolidated balance sheets. See Note 4 – “Acquisitions” for further information. (d) For each property that is managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”) (and its predecessor), the Company pays a monthly real estate management fee of up to 1.9 % of the gross income from any single-tenant, net-leased property, and up to 3.9 % of the gross income from any other property type. The Real Estate Manager determines, in its sole discretion, the amount of the fee with respect to a particular property, subject to the limitations. For each property that is managed directly by the Real Estate Manager or its affiliates, the Company pays the Real Estate Manager a separate leasing fee. Further, in the event that the Company engages its Real Estate Manager to provide construction management services for a property, the Company pays a separate construction management fee. Leasing fees are included in deferred costs, net and construction management fees are included in building and other improvements in the consolidated balance sheets. The Company also reimburses the Real Estate Manager and its affiliates for property-level expenses that they pay or incur on the Company’s behalf, including the salaries, bonuses and benefits of persons performing services for the Real Estate Manager and its affiliates except for the salaries, bonuses and benefits of persons who also serve as an executive officer of the Real Estate Manager or the Company. Real estate management fees and reimbursable expenses are included in property operating expenses in the consolidated statements of operations and comprehensive loss. (e) The Company pays the Business Manager an annual business management fee equal to 0.65 % of its “average invested assets”. The fee is payable quarterly in an amount equal to 0.1625 % of its average invested assets as of the last day of the immediately preceding quarter. “Average invested assets” means, for any period, the average of the aggregate book value of the Company’s assets, including all intangibles and goodwill, invested, directly or indirectly, in equity interests in, and loans secured by, properties, as well as amounts invested in securities and consolidated and unconsolidated joint ventures or other partnerships, before reserves for amortization and depreciation or bad debts, impairments or other similar non-cash reserves, computed by taking the average of these values at the end of each month during the relevant calendar quarter. Unpaid amounts are included in due to related parties on the consolidated balance sheets. (f) In this table, unpaid amounts as of December 31, 2022 does not reflect $ 879 due to IRPF related to annual tenant reconciliations for the eight properties acquired during 2022.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	NOTE 14 –LEASES The Company is lessor on approximately 800 retail operating leases. The remaining lease terms for the Company’s leases range from less than one year to 15 years . The Company considers the date on which it makes a leased space available to a lessee as the commencement date of the lease. At commencement, the Company determines the lease classification utilizing the classification tests under ASC 842. Options to extend a lease are included in the lease term when it is reasonably certain that the tenant will exercise its option to extend. Termination penalties are included in income when there is a termination agreement, all the conditions of the agreement have been met and amounts due are considered collectable. Such termination fees are recognized on a straight-line basis over the remaining lease term in rental income. If an operating lease is modified and the modification is not accounted for as a separate contract, the Company accounts for the modification as if it were a termination of the existing lease and the creation of a new lease. The Company considers any prepaid or accrued rentals relating to the original lease as part of the lease payments for the modified lease. The Company includes options to modify the original lease term when it is reasonably certain that the tenant will exercise its option to extend. Lease Income Most of the revenue from the Company’s properties consists of rents received under long-term operating leases. Most leases require the tenant to pay fixed base rent paid monthly in advance, and to reimburse the Company for the tenant’s pro rata share of certain operating expenses including real estate taxes, special assessments, insurance, utilities, common area maintenance, management fees, and certain building repairs paid by the Company and recoverable under the terms of the lease. Under these leases, the Company pays all expenses and is reimbursed by the tenant for the tenant’s pro rata share of recoverable expenses paid. Certain other tenants are subject to net leases which provide that the tenant is responsible for fixed base rent as well as all costs and expenses associated with occupancy. Under net leases where all expenses are paid directly by the tenant rather than the landlord, such expenses are not included on the consolidated statements of operations and comprehensive loss. Under leases where all expenses are paid by the Company, subject to reimbursement by the tenant, the expenses are included within property operating expenses. Reimbursements for common area maintenance are considered non-lease components that are permitted to be combined with rental income. The combined lease component and reimbursements for insurance and taxes are reported as rental income on the consolidated statements of operations and comprehensive loss. Rental income related to the Company's operating leases is comprised of the following for the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, 2022 2021 2020 Rental income - fixed payments $ 106,422 $ 95,157 $ 90,808 Rental income - variable payments (a) 26,192 23,027 22,646 Amortization of acquired market leases, net 818 773 2,073 Rental income $ 133,432 $ 118,957 $ 115,527 (a) Primarily includes tenant recovery income for real estate taxes, common area maintenance and insurance . The future base rent payments to be received under operating leases including ground leases as of December 31, 2022 for the years indicated, assuming no expiring leases are renewed, are as follows: Lease 2023 $ 106,105 2024 95,037 2025 77,032 2026 65,074 2027 49,975 Thereafter 148,281 Total $ 541,504 Lease Expense The Company is the lessee under one ground lease. The ground lease, which commenced on July 1, 2007, was assumed as part of a property purchased in October 2015 and extends through June 30, 2037 with six 5 -year renewal options which the Company assumes will be exercised. When the Company acquired the lease, the Company considered the lease terms and lease classification. As reassessment was not required under practical expedients accorded in ASC 842, the Company has continued to account for the ground lease as an operating lease with an established lease term and payment schedule. The lease liability was based on the present value of the ground lease’s future lease payments using an interest rate of 6.225 % which the Company considers reasonable and within the range of the Company’s incremental borrowing rate. For the years ended December 31, 2022, 2021 and 2020, total rent expense was $ 1,944 , $ 1,944 and $ 1,944 , respectively, recorded in property operating expenses on the consolidated statements of operations and comprehensive loss . Lease payments for the ground lease as of December 31, 2022 for each of the five succeeding years and thereafter is as follows: Lease 2023 $ 1,264 2024 1,264 2025 1,264 2026 1,264 2027 1,332 Thereafter 83,253 Total undiscounted lease payments 89,641 Less: Amount representing interest ( 64,925 ) Present value of lease liability $ 24,716 As of December 31, 2022, the Company’s accounts and rent receivable, net balance was $ 20,114 , which was net of an allowance for bad debts of $ 1,119 and included $ 35 of deferred rent receivable related to COVID-19 agreements negotiated with tenants. As of December 31, 2021, the Company’s accounts and rent receivable, net balance is $ 18,560 , which is net of an allowance for bad debts of $ 1,259 and included $ 399 of deferred rent receivable related to COVID-19 agreements negotiated with tenants. Such agreements generally allow tenants to defer the payment of a portion of rent with no substantive changes to the consideration in the original lease. Consistent with the guidance in the Lease Modification Q&A issued by the FASB, such deferrals affect the timing, but not the amount, of the lease payments. The Company is accounting for these deferrals as if no changes to the lease were made. Under this accounting, the Company increases its rent receivable as tenant obligations accrue and continues to recognize rental income.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 15 – FAIR VALUE MEASUREMENTS Fair Value Hierarchy The Company defines fair value based on the price that it believes would be received upon sale of an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value. The fair value hierarchy consists of three broad levels, which are described below: Level 1 − Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. Level 2 − Observable inputs, other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 − Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Company has estimated the fair value of its financial and non-financial instruments using available market information and valuation methodologies the Company believes to be appropriate for these purposes. Recurring Fair Value Measurements For assets and liabilities measured at fair value on a recurring basis, the table below presents the fair value of the Company’s cash flow hedges as well as their classification on the consolidated balance sheets as of December 31, 2021 and 2020, respectively. Fair Value Level 1 Level 2 Level 3 Total December 31, 2022 Interest rate swap agreements - Other assets $ — $ 33,274 $ — $ 33,274 Interest rate swap agreements - Other liabilities $ — $ — $ — $ — December 31, 2021 Interest rate swap agreements - Other assets $ — $ — $ — $ — Interest rate swap agreements - Other liabilities $ — $ 7,469 $ — $ 7,469 The fair value of derivative instruments was estimated based on data observed in the forward yield curve which is widely observed in the marketplace. The Company also incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the counterparty's nonperformance risk in the fair value measurements which utilize Level 3 inputs, such as estimates of current credit spreads. The Company has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative interest rate swap agreements and therefore has classified these in Level 2 of the hierarchy.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	NOTE 16 – SUBSEQUENT EVENTS Announcement of the Company’s Estimated Per Share NAV On March 6, 2023, the Company announced that the Company’s board of directors unanimously approved: (i) an Estimated Per Share NAV as of December 31, 2022; (ii) the same per share purchase price for shares issued under the DRP beginning with the first distribution payment to stockholders upon resumption of distributions and the DRP until the Company announces a new Estimated Per Share NAV, and (iii) that, in accordance with the Fourth SRP, beginning with repurchases in April 2023 and until the Company announces a new Estimated Per Share NAV, any shares accepted for ordinary repurchases and Exceptional Repurchases will be repurchased at 80 % of the Estimated Per Share NAV. Third Amended and Restated Business Management Agreement (Note: capitalized terms used below but not defined in this Annual Report have the definitions ascribed to them in the applicable business management agreement) On March 23, 2023, the Company entered into a Third Amended and Restated Business Management Agreement (the “Third Business Management Agreement”) with the Business Manager effective April 1, 2023, which amends and restates the existing Second Amended and Restated Business Management Agreement dated October 15, 2021 (the “Second Business Management Agreement”) to make the following changes, among others: • decrease the annual business management fee (the “Business Management Fee”) payable to the Business Manager by the Company from 0.65 % of Average Invested Assets to 0.55 % of Average Invested Assets; • change the term of the agreement such that it ends on March 31, 2027, and remove the provisions regarding one-year renewal terms; • delete the provision, formerly included to conform to provisions in the Company’s Second Articles of Amendment and Restatement, which has since been amended and restated, requiring the Business Manager to reimburse the Company, subject to certain exceptions, for any amount by which the Total Operating Expenses (including the Business Management Fee and other fees payable hereunder) of the Company for the Fiscal Year just ended exceeded the greater of (i) two percent ( 2 %) of the total of the Average Invested Assets for the just ended Fiscal Year; or (ii) twenty-five percent ( 25 %) of the Net Income for the just ended Fiscal Year; • amend the indemnification section to remove certain conditions to, and limitations on, the Company’s ability to indemnify the Business Manager and the Business Manager’s officers, directors, employees and agents, which conditions and limitations were formerly included to conform to provisions in the Company’s Second Articles of Amendment and Restatement that has since been amended and restated, and to provide that indemnification will be provided to the full extent permitted by law; • add a definition for “Cause Event” that includes, for example, certain bad acts by, or the insolvency of, the Business Manager and provide that the Third Business Management Agreement may be terminated by the Company with the affirmative vote of a majority of its Independent Directors; • provide that if the Third Business Management Agreement is terminated pursuant to Section 14(b) (Termination by Company for a Cause Event), the Business Manager will not be entitled to compensation after the date of termination, provided that the Business Manager will be paid the Business Management Fee payable under Section 7(a) through the date of termination; and • provide that if the Third Business Management Agreement is terminated pursuant to any of Sections 14(c) (Termination by the Company for Convenience), 14(d) (Termination by the Business Manager) or 14(e) (Termination Pursuant to a Qualifying Internalization), the Business Manager will be entitled to payment of the Business Management Fee payable under Section 7(a) for the remainder of the Term using the calculations made for the quarter in which the agreement was terminated, which payment will be made within 30 days of the termination. The above description is qualified by reference to the Third Business Management Agreement in its entirety, a copy of which is included with this Annual Report as exhibit 10.25.

Schedule - Schedule III Real Es

Schedule - Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2022
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III Real Estate and Accumulated Depreciation	INLAND REAL ESTATE INCOME TRUST, INC. Schedule III Real Estate and Accumulated Depreciation December 31, 2022 (Dollar amounts in thousands) Initial cost (A) Gross amount carried Property Name Encum- Land Buildings Cost Land(D) Buildings Total Accumu- Date Date Depre-ciable Blossom Valley Plaza $ — $ 9,515 $ 11,142 $ 797 $ 9,515 $ 11,939 $ 21,454 $ ( 3,352 ) 1988 2015 15 - 30 Turlock, CA Branson Hills Plaza — $ 3,787 $ 6,039 $ 174 3,787 6,213 10,000 $ ( 1,905 ) 2005 2014 15 - 30 Branson, MO CityPlace — $ 16,609 $ 54,245 $ 39 16,609 54,284 70,893 $ ( 1,388 ) 2016 - 2018 2022 15 - 30 Woodbury, MN Coastal North Town Center 41,348 $ 13,725 $ 49,673 $ ( 1,115 ) 13,725 48,558 62,283 $ ( 11,873 ) 2014 2016 15 - 30 Myrtle Beach, SC Coastal North Town Center - Phase II — $ 365 $ 3,034 $ - 365 3,034 3,399 $ ( 598 ) 2016 2017 15 - 30 Myrtle Beach, SC Denton Village — $ 1,312 $ 15,308 $ - 1,312 15,308 16,620 $ ( 374 ) 2016 2022 15 - 30 Denton, TX Dixie Valley — $ 2,807 $ 9,053 $ 2,239 2,807 11,292 14,099 $ ( 3,332 ) 1988 2014 15 - 30 Louisville, KY Dogwood Festival — $ 4,500 $ 41,865 $ 3,916 4,500 45,781 50,281 $ ( 14,425 ) 2002 2014 5 - 30 Flowood, MO Eastside Junction — $ 2,411 $ 8,393 $ 120 2,411 8,513 10,924 $ ( 2,562 ) 2008 2015 15 - 30 Athens, AL Fairgrounds Crossing — $ 6,069 $ 22,637 $ 1,117 6,069 23,754 29,823 $ ( 6,781 ) 2008 2015 15 - 30 Hot Springs, AR Fox Point Plaza — $ 3,518 $ 12,681 $ 2,858 3,518 15,539 19,057 $ ( 4,549 ) 2008 2014 15 - 30 Neenah, WI Frisco Marketplace — $ 6,618 $ 3,315 $ - 6,618 3,315 9,933 $ ( 1,182 ) 2002 2015 15 - 30 Frisco, TX Green Tree Shopping Center — $ 7,218 $ 17,846 $ 1,059 7,218 18,905 26,123 $ ( 5,219 ) 1997 2015 5 - 30 Katy, TX Harris Plaza — $ 6,500 $ 19,403 $ 2,306 6,500 21,709 28,209 $ ( 7,210 ) 2001 - 2008 2014 15 - 30 Layton, UT Harvest Square — $ 2,186 $ 9,330 $ 186 2,186 9,516 11,702 $ ( 3,040 ) 2008 2014 15 - 30 Harvest, AL Heritage Square — $ 2,028 $ 5,538 $ 364 2,028 5,902 7,930 $ ( 1,852 ) 2010 2014 15 - 30 Conyers, AL Kroger - Copps Grocery — $ 1,440 $ 11,799 $ - 1,440 11,799 13,239 $ ( 3,480 ) 2012 2014 15 - 30 Stevens Point, WI Kroger - Pick n Save Center — $ 3,150 $ 14,283 $ 2,848 3,150 17,131 20,281 $ ( 5,138 ) 2011 2014 15 - 30 West Bend, WI Lakeside Crossing — $ 1,460 $ 16,999 $ 432 1,460 17,431 18,891 $ ( 5,526 ) 2013 2014 15 - 30 Lynchburg, VA Landing at Ocean Isle Beach — $ 3,053 $ 7,081 $ 147 3,053 7,228 10,281 $ ( 2,427 ) 2009 2014 15 - 30 Ocean Isle, NC Lower Makefield Shopping Center — $ 6,559 $ 18,351 $ - 6,559 18,351 24,910 $ ( 503 ) 1986 / 2000 2022 15 - 30 Lower Makefield, PA Mansfield Pointe — $ 5,350 $ 20,002 $ 890 5,350 20,892 26,242 $ ( 6,843 ) 2008 2014 15 - 30 Mansfield, TX Marketplace at El Paseo — $ 16,390 $ 46,971 $ ( 452 ) 16,390 46,519 62,909 $ ( 12,147 ) 2014 2015 15 - 30 Fresno, CA Marketplace at Tech Center $ 10,684 $ 68,580 $ 3,112 10,684 71,692 82,376 $ ( 17,014 ) 2015 2015 15 - 30 Newport News, VA - MidTowne Shopping Center — $ 8,810 $ 29,699 $ 754 8,810 30,453 39,263 $ ( 9,934 ) 2005 / 2008 2014 5 - 30 Little Rock, AR Milford Marketplace 18,727 $ - $ 35,867 $ 1,125 — 36,992 36,992 $ ( 9,819 ) 2007 2015 15 - 30 Milford, CT Newington Fair — $ 7,833 $ 8,329 $ 576 7,833 8,905 16,738 $ ( 4,056 ) 1994 / 2009 2012 15 - 30 Newington, CT New Town Village — $ 2,106 $ 3,216 $ - 2,106 3,216 5,322 $ ( 152 ) 1996 2022 15-30 Owings Mills, MD North Hills Square — $ 4,800 $ 5,493 $ 652 4,800 6,145 10,945 $ ( 1,953 ) 1997 2014 15 - 30 Coral Springs, FL Northpark Village Square — $ 15,806 $ 41,201 $ 138 15,806 41,339 57,145 $ ( 1,085 ) 1996 2022 15 - 30 Santa Clarita, CA Northville Park Place — $ 6,440 $ 27,635 $ 305 6,440 27,940 34,380 $ ( 739 ) 2014 2022 15 - 30 Northville, MI Olde Ivy Village — $ 5,034 $ 12,104 $ - 5,034 12,104 17,138 $ ( 292 ) 2015 2022 15 - 30 Smyrna, GA Oquirrh Mountain Marketplace — $ 4,254 $ 14,467 $ 411 4,254 14,878 19,132 $ ( 3,731 ) 2014 - 2015 2015 15 - 30 Jordan, UT Initial cost (A) Gross amount carried Property Name Encum- Land Buildings Cost Land(D) Buildings Total Accumu- Date Date Depre-ciable Oquirrh Mountain Marketplace — $ 1,403 $ 3,727 $ ( 50 ) 1,403 3,677 5,080 $ ( 902 ) 2014 - 2015 2016 15 - 30 Jordan, UT Park Avenue Shopping Center — $ 5,500 $ 16,365 $ 3,901 5,500 20,266 25,766 $ ( 6,202 ) 2012 2014 15 - 30 Little Rock, AR Pentucket Shopping Center — $ 5,993 $ 11,251 $ 1,757 5,993 13,008 19,001 $ ( 2,733 ) 1986 2017 15 - 30 Plaistow, NH Plaza at Prairie Ridge — $ 618 $ 2,305 $ - 618 2,305 2,923 $ ( 647 ) 2008 2015 15 - 30 Pleasant Prairie, WI Prattville Town Center — $ 5,336 $ 27,672 $ 217 5,336 27,889 33,225 $ ( 7,994 ) 2007 2015 15 - 30 Prattville, AL Regal Court 26,000 $ 5,873 $ 41,181 $ 2,496 5,873 43,677 49,550 $ ( 12,362 ) 2008 2015 5 - 30 Shreveport, LA Rusty Leaf Plaza — $ 8,643 $ 20,638 $ - 8,643 20,638 29,281 $ ( 515 ) 1966 2022 15 - 30 Orange, CA Settlers Ridge 76,533 $ 25,962 $ 98,157 $ 891 25,962 99,048 125,010 $ ( 26,958 ) 2011 2015 15 - 30 Pittsburgh, PA Shoppes at Lake Park — $ 2,285 $ 8,527 $ 90 2,285 8,617 10,902 $ ( 2,479 ) 2008 2015 15 - 30 West Valley City. UT Shoppes at Market Pointe — $ 12,499 $ 8,388 $ 998 12,499 9,386 21,885 $ ( 3,553 ) 2006 - 2007 2015 15 - 30 Papillion, NE Shoppes at Prairie Ridge — $ 7,521 $ 22,468 $ 971 7,521 23,439 30,960 $ ( 6,843 ) 2009 2014 15 - 30 Pleasant Prairie, WI The Shoppes at Branson Hills — $ 4,418 $ 37,229 $ 2,601 4,418 39,830 44,248 $ ( 11,241 ) 2005 2014 15 - 30 Branson, MO Shops at Hawk Ridge — $ 1,329 $ 10,341 $ 299 1,329 10,640 11,969 $ ( 3,046 ) 2009 2015 5 - 30 St. Louis, MO Village at Burlington Creek 17,085 $ 10,789 $ 19,385 $ 2,592 10,789 21,977 32,766 $ ( 5,890 ) 2007 & 2015 2015 5 - 30 Kansas City, MO Walgreens Plaza — $ 2,624 $ 9,683 $ 410 2,624 10,093 12,717 $ ( 3,066 ) 2011 2015 15 - 30 Jacksonville, NC Wedgewood Commons — $ 2,220 $ 26,577 $ 2,491 2,220 29,068 31,288 $ ( 8,755 ) 2009 - 2013 2013 5 - 30 Olive Branch, MS White City — $ 18,961 $ 70,423 $ 3,636 18,961 74,059 93,020 $ ( 20,364 ) 2013 2015 15 - 30 Shrewsbury, MA Wilson Marketplace — $ 11,155 $ 27,498 $ 1,758 11,155 29,256 40,411 $ ( 6,279 ) 2007 2017 15 - 30 Wilson, NC Yorkville Marketplace — $ 4,990 $ 13,928 $ 931 4,990 14,859 19,849 $ ( 4,553 ) 2002 & 2007 2015 15 - 30 Yorkville, IL Total: $ 179,693 $ 330,456 $ 1,147,322 $ 50,987 $ 330,456 $ 1,198,309 $ 1,528,765 $ ( 288,863 ) Notes: (a) The initial cost to the Company represents the original purchase price of the property. (b) The aggregate cost of real estate owned at December 31, 2022 for federal income tax purposes was $ 1,683,379 . (c) As applicable, some amounts include write-offs (d) Reconciliation of real estate owned: 2022 2021 2020 Balance at January 1, $ 1,261,075 $ 1,255,127 $ 1,251,869 Acquisitions $ 255,080 — — Improvements, net of master lease 12,610 5,948 3,258 Balance at December 31, $ 1,528,765 $ 1,261,075 $ 1,255,127 (e) Reconciliation of accumulated depreciation: Balance at January 1, $ 245,532 $ 207,764 $ 170,269 Depreciation expense 43,331 37,768 37,495 Balance at December 31, $ 288,863 $ 245,532 $ 207,764

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
General	General The consolidated financial statements have been prepared in accordance with GAAP and require 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. In the opinion of management, all adjustments necessary for a fair statement, in all material respects, of the financial position and results of operations for the periods are presented. Actual results could differ from those estimates. Information with respect to square footage and occupancy is unaudited.
Significant Risks and Uncertainties related to COVID-19 Pandemic	Significant Risks and Uncertainties related to COVID-19 Pandemic Due to the COVID-19 pandemic, a number of the Company's tenants had temporarily closed their stores during 2020 and requested rent deferral or rent abatement. The Company has been collecting this deferred rent during the years ended December 31, 2021 and 2022. The Company’s deferred rent balance is $ 35 at December 31, 2022, which is significantly lower than the deferred rent balance of $ 399 at December 31, 2021 due primarily to collections during the year ended December 31, 2022. The extent to which the COVID-19 pandemic further impacts the Company’s operations and those of the Company's tenants will depend on future developments, including the impact of the Delta, Omicron or other variants of COVID-19 in the U.S. The impact cannot be predicted with confidence, including the scope, severity and duration of the pandemic’s variants, the actions taken to contain the pandemic’s variants or mitigate their impact, and the direct and indirect economic effects of the pandemic’s variants and containment measures, among others.
Consolidation	Consolidation The consolidated financial statements include the accounts of the Company, as well as all wholly owned subsidiaries. Wholly owned subsidiaries generally consist of limited liability companies (“LLCs”). All intercompany balances and transactions have been eliminated in consolidation. Each property is owned by a separate legal entity which maintains its own books and financial records and each entity’s assets are not available to satisfy the liabilities of other affiliated entities. The fiscal year-end of the Company is December 31.
Acquisitions	Acquisitions Upon acquisition of real estate investment properties, the Company allocates the total purchase price of each property that is accounted for as an asset acquisition based on the relative fair value of the tangible and intangible assets acquired and liabilities assumed based on Level 3 inputs, such as comparable sales values, discount rates, capitalization rates, revenue and expense growth rates and lease-up assumptions, from a third party appraisal or other market sources. The acquisition date is the date on which the Company obtains control of the real estate investment property and transaction costs are capitalized. Assets and liabilities acquired typically include land, building and site improvements and identified intangible assets and liabilities, consisting of the value of above market and below market leases and the value of in-place leases. The portion of the purchase price allocated to above market lease values is included in acquired lease intangible assets, net and is amortized on a straight-line basis over the term of the related lease as a reduction to rental income. The portion allocated to below market lease values is included in acquired intangible liabilities, net and is amortized as an increase to rental income over the term of the lease including any renewal periods with fixed rate renewals. The portion of the purchase price allocated to acquired in-place lease value is included in acquired lease intangible assets, net and is amortized on a straight-line basis over the acquired leases’ weighted average remaining term. The Company determines the fair value of the tangible assets consisting of land and buildings by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land and buildings. The Company determines the fair value of assumed debt by calculating the net present value of the mortgage payments using interest rates for debt with similar terms and maturities. Differences between the fair value and the stated value is recorded as a discount or premium and amortized over the remaining term using the effective interest method. Certain of the Company’s properties included earnout components to the purchase price, meaning the Company did not pay a portion of the purchase price of the property at closing, although the Company owns the entire property. The Company is not obligated to settle the contingent portion of the purchase price unless space which was vacant at the time of acquisition is later leased by the seller within the time limits and parameters set forth in the related acquisition agreements. The Company’s policy is to record earnout components when estimable and probable. At December 31, 2022, there is no earnout liability outstanding.
Impairment of Investment Properties	Impairment of Investment Properties The Company assesses the carrying values of its respective long-lived assets whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. Recoverability of the assets is measured by comparison of the carrying amount of the asset to the estimated future undiscounted cash flows. In order to review its assets for recoverability, the Company considers current market conditions, as well as its intent with respect to holding or disposing of the asset. If the Company’s analysis indicates that the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, the Company recognizes an impairment charge for the amount by which the carrying value exceeds the current estimated fair value of the real estate property. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third party appraisals, where considered necessary (Level 3 inputs). The Company estimates the future undiscounted cash flows based on management’s intent as follows: (i) for real estate properties that the Company intends to hold long-term, including land held for development, properties currently under development and operating buildings, recoverability is assessed based on the estimated future net rental income from operating the property and termination value; and (ii) for real estate properties that the Company intends to sell, including land parcels, properties currently under development and operating buildings, recoverability is assessed based on estimated net proceeds, including net rental income during the holding period, from disposition that are estimated based on future net rental income of the property and utilizing expected market capitalization rates. The use of projected future cash flows is based on assumptions that are consistent with management's estimates of future expectations and the strategic plan the Company uses to manage its underlying business. However, assumptions and estimates about future cash flows, including comparable sales values, discount rates, capitalization rates, revenue and expense growth rates and lease-up assumptions which impact the discounted cash flow approach to determining value are complex and subjective. Changes in economic and operating conditions and the Company’s ultimate investment intent that occur subsequent to the impairment analysis could impact these assumptions and result in future impairment charges of real estate properties. On a quarterly basis, management assesses whether there are any indicators that the carrying value of the Company’s investment in unconsolidated entities and notes receivable may be other than temporarily impaired as a loss in value that is other than a temporary decline is required to be recognized. Indicators include significant delays in construction, significant costs over budget and financial concerns. To the extent indicators suggest that a loss in value may have occurred, the Company will evaluate both quantitative and qualitative factors to determine if the loss in value is other than temporary. If a potential loss in value is determined to be other than temporary, the Company will recognize an impairment loss based on the estimated fair value of the investment. During the years ended December 31, 2022, 2021 and 2020 the Company did no t record any impairment charges.
REIT Status	REIT Status The Company elected to be taxed as a real estate investment trust (“REIT”) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, for federal income tax purposes commencing with the tax year ended December 31, 2013. Commencing with such taxable year, the Company was organized and began operating in such a manner as to qualify for taxation as a REIT under the Internal Revenue Code and believes it has so qualified. As a result, the Company generally will not be subject to federal income tax on taxable income that is distributed to stockholders. A REIT is subject to a number of organizational and operational requirements, including a requirement that it currently distributes at least 90% of its REIT taxable income (subject to certain adjustments and excluding any net capital gain) to its stockholders. The Company will monitor the business and transactions that may potentially impact its REIT status. If the Company fails to qualify as a REIT in any taxable year, without the benefit of certain statutory relief provisions, the Company will be subject to tax as a “C corporation.” Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income, property or net worth and federal income and excise taxes. Any taxable REIT subsidiaries generally will be subject to federal income tax applicable to “C corporations.”
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all demand deposits, money market accounts and all short-term investments with a maturity of three months or less, at the date of purchase, to be cash equivalents. The account balance may exceed the Federal Deposit Insurance Corporation (“FDIC”) insurance coverage and, as a result, there could be a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. The Company believes that the risk will not be significant, as the Company does not anticipate the financial institutions’ non-performance.
Restricted Cash	Restricted Cash Amounts included in restricted cash represent those required to be set aside by lenders for real estate taxes, insurance, capital expenditures and tenant improvements on the Company's existing properties. These amounts also include post close escrows for tenant improvements, leasing commissions, master lease, general repairs and maintenance, and are classified as restricted cash on the Company’s consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Company’s consolidated balance sheets to such amounts shown on the Company’s consolidated statements of cash flows: December 31, 2022 2021 Cash and cash equivalents $ 4,857 $ 8,229 Restricted cash 477 5,154 Total cash, cash equivalents, and restricted cash $ 5,334 $ 13,383
Accounts and Rents Receivable	Accounts and Rents Receivable The Company takes into consideration certain factors that require judgments to be made as to the collectability of receivables. Collectability factors taken into consideration are the amounts outstanding and payment history of the tenant. The Company includes both billed and accrued charges in its evaluation of the collectability of a tenant’s receivable balance. For tenant receivables that the Company determines to be uncollectable, the Company records an offset for uncollectable tenant revenues directly to rental income.
Capitalization and Depreciation	Capitalization and Depreciation Real estate properties held and used are recorded at cost less accumulated depreciation. Real estate properties held for sale are recorded at the lesser of their carrying value or fair value less selling costs. Improvement and betterment costs are capitalized, and ordinary repairs and maintenance are expensed as incurred. Real estate properties are classified as held for sale when the Company concludes that a sale is likely. Criteria that may be considered in this determination include obtaining a signed purchase and sale agreement, the completion and waiving of due diligence by the seller, and the receipt of non-refundable earnest money from the seller. Cost capitalization and the estimate of useful lives require judgment and include significant estimates that can and do change. Depreciation expense is computed using the straight-line method. The Company anticipates the estimated useful lives of its assets by class to be generally: Building and other improvements 30 years Site improvements 5 - 15 years Furniture, fixtures and equipment 5 - 15 years Tenant improvements Shorter of the life of the asset or the term of the related lease Leasing fees Term of the related lease Depreciation expense was $ 43,331 , $ 37,806 and $ 37,495 for the years ended December 31, 2022, 2021 and 2020, respectively. Amortization of leasing fees were $ 876 , $ 731 , and $ 615 for the years ended December 31, 2022, 2021 and 2020, respectively.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs are amortized on a straight-line basis, which approximates the effective interest method, over the term, or anticipated repayment date, of the related agreements as a component of interest expense. These costs are reported as a direct deduction to the Company’s outstanding mortgages and credit facility payable.
Fair Value Measurements	Fair Value Measurements The Company has estimated fair value using available market information and valuation methodologies the Company believes to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that would be realized upon disposition. The Company defines fair value based on the price that it believes would be received upon sale of an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value. The fair value hierarchy consists of three broad levels, which are described below: Level 1 − Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. Level 2 − Observable inputs, other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 − Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Company’s cash equivalents, accounts receivable and payables and accrued expenses all approximate fair value due to the short term nature of these financial instruments. The Company’s financial instruments measured on a recurring basis include derivative interest rate instruments.
Derivatives	Derivatives The Company uses derivative instruments, such as interest rate swaps, primarily to manage exposure to interest rate risks inherent in variable rate debt. The Company may also enter into forward starting swaps or treasury lock agreements to set the effective interest rate on a planned fixed-rate financing. The Company’s interest rate swaps involve the receipt of variable-rate 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. In a forward starting swap or treasury lock agreement that the Company cash settles in anticipation of a fixed rate financing or refinancing, the Company will receive or pay an amount equal to the present value of future cash flow payments based on the difference between the contract rate and market rate on the settlement date. The Company does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated as hedging instruments under the accounting requirements for derivatives and hedging.
Revenue Recognition	Revenue Recognition The Company commences revenue recognition for its operating leases on the commencement date of the lease, which the Company considers is the date on which it makes the leased space available to the lessee. The determination of who is the owner, for accounting purposes, of the tenant improvements determines the nature of the leased asset. If the Company is the owner, for accounting purposes, of the tenant improvements, then the tenant improvements are capitalized and depreciated over the life of the lease. If the Company concludes it is not the owner, for accounting purposes, of the tenant improvements (the lessee is the owner), then the leased asset is the unimproved space and any tenant improvement allowances funded by the Company under the lease are treated as lease incentives which reduce revenue recognized over the term of the lease. The Company considers a number of different factors to evaluate whether it or the lessee is the owner of the tenant improvements for accounting purposes. Rental income is recognized on a straight-line basis over the term of each lease. The difference between rental income earned on a straight-line basis and the cash rent due under the provisions of the lease agreements is recorded as deferred rent receivable and is included as a component of accounts and rent receivable on the consolidated balance sheets. Due to the impact of the straight-line basis, rental income generally will be greater than the cash collected in the early years and will decrease in the later years of a lease. Reimbursements from tenants for recoverable real estate tax and operating expenses are accrued as revenue in the period the applicable expenses are incurred. The Company makes certain assumptions and judgments in estimating the reimbursements at the end of each reporting period. The Company does not expect the actual results to materially differ from the estimated reimbursement. The Company made the election for these reimbursements, which are non-lease components, to be combined with rental income. The Company records lease termination income if there is a signed termination agreement, all of the conditions of the agreement have been met and amounts due are considered collectable. Such termination fees are recognized on a straight-line basis over the remaining lease term in rental income. As a lessor, the Company defers the recognition of contingent rental income, such as percentage rent, until the specified target that triggered the contingent rental income is achieved.
Equity-Based Compensation	Equity-Based Compensation The Company has restricted shares and units outstanding at December 31, 2022 and 2021. The Company recognizes expense related to the fair value of equity-based compensation awards as general and administrative expense on the consolidated statements of operations and comprehensive loss. The Company primarily recognizes expense based on the fair value at the grant date on a straight-line basis over the vesting period representing the requisite service period and adjusts expense for forfeitures as they occur. See Note 8 – "Equity-Based Compensation" for further information.
Recently Adopted Accounting and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) . ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, the Company has elected to apply the hedge accounting expedients related to probability and the assessments of the effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A grants relief to entities, allowing them an election to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under Topic 842, Leases. An entity that makes this election can then elect whether to apply the modification guidance (i.e. assume the relief was always contemplated by the contract or assume the relief was not contemplated by the contract). Both lessees and lessors may make this election. The Company has elected to apply such relief and will avail itself of the election to avoid performing a lease by lease analysis.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Company’s consolidated balance sheets to such amounts shown on the Company’s consolidated statements of cash flows: December 31, 2022 2021 Cash and cash equivalents $ 4,857 $ 8,229 Restricted cash 477 5,154 Total cash, cash equivalents, and restricted cash $ 5,334 $ 13,383
Schedule of Estimated Useful Lives of Assets	Cost capitalization and the estimate of useful lives require judgment and include significant estimates that can and do change. Depreciation expense is computed using the straight-line method. The Company anticipates the estimated useful lives of its assets by class to be generally: Building and other improvements 30 years Site improvements 5 - 15 years Furniture, fixtures and equipment 5 - 15 years Tenant improvements Shorter of the life of the asset or the term of the related lease Leasing fees Term of the related lease

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Schedule of Properties Acquired	The following table provides further details of the properties acquired during the year ended December 31, 2022: Date Property Name Number of Transactions Number of Properties Square Purchase 5/17/2022 IRPF Properties 1 8 686,851 $ 278,153 686,851 $ 278,153 (a) Contractual purchase price excluding closing credits .
Schedule of Major Assets Acquired and Liabilities Assumed	The following table presents certain additional information regarding the Company’s acquisitions during the year ended December 31, 2022. The amounts recognized for major assets acquired and liabilities assumed as of the acquisition date are as follows: Year Ended December 31, 2022 Land $ 62,510 Building and improvements 192,722 Acquired lease intangible assets 33,285 Acquired intangible liabilities ( 9,654 ) Assumed liabilities, net ( 983 ) Total $ 277,880

Acquired Intangible Assets an_2

Acquired Intangible Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Liabilities	The following table summarizes the Company’s identified intangible assets and liabilities as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Intangible assets: Acquired in-place lease value $ 183,305 $ 156,918 Acquired above market lease value 52,640 45,742 Accumulated amortization ( 158,984 ) ( 144,457 ) Acquired lease intangibles, net $ 76,961 $ 58,203 Intangible liabilities: Acquired below market lease value $ 79,914 $ 70,260 Accumulated amortization ( 36,575 ) ( 32,342 ) Acquired below market lease intangibles, net $ 43,339 $ 37,918
Schedule of Amortization of Acquired In Place Lease Value, Above Market Ground Lease, Above and Below Market Lease Values	Amortization pertaining to acquired in-place lease value, above market ground lease, above market lease value and below market lease value is summarized below: Amortization recorded as amortization expense: 2022 2021 2020 Acquired in-place lease value $ 11,112 $ 10,369 $ 14,724 Amortization recorded as a (reduction) increase to rental Acquired above market leases $ ( 3,415 ) $ ( 2,966 ) $ ( 3,089 ) Acquired below market leases 4,233 3,739 5,162 Net rental income increase $ 818 $ 773 $ 2,073
Schedule of Estimated Amortization of Intangible Lease Assets and Liabilities	Estimated amortization of the respective intangible lease assets and liabilities as of December 31, 2022 for each of the five succeeding years and thereafter is as follows: Acquired Above Below 2023 $ 10,861 $ 3,561 $ 3,639 2024 9,273 3,323 3,509 2025 6,873 2,937 3,263 2026 5,121 2,510 3,125 2027 3,666 1,860 2,895 Thereafter 16,823 10,153 26,908 Total $ 52,617 $ 24,344 $ 43,339

Debt and Derivative Instrumen_2

Debt and Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Mortgages and Credit Facilities Payable	As of December 31, 2022 and 2021, the Company had the following mortgages and credit facility payable: December 31, 2022 December 31, 2021 Type of Debt Principal Weighted Principal Weighted Fixed rate mortgages payable $ 112,345 3.84 % $ 118,463 3.88 % Variable rate mortgages payable with swap agreements 67,348 3.71 % 198,796 3.42 % Variable rate mortgages payable — 0.00 % 684 1.70 % Mortgages payable $ 179,693 3.79 % $ 317,943 3.59 % Credit facility payable 677,000 4.56 % 279,000 3.03 % Total debt before unamortized mortgage premiums and $ 856,693 4.40 % $ 596,943 3.33 % Add: Unamortized mortgage premiums — 17 Less: Unamortized debt issuance costs ( 4,348 ) ( 1,418 ) Total debt $ 852,345 $ 595,542
Schedule of Principal Payments and Maturities of Company's Debt	As of December 31, 2022, scheduled principal payments and maturities on the Company’s debt were as follows: December 31, 2022 Scheduled Principal Payments and Maturities by Year: Scheduled Maturities of Maturity Total 2023 $ 326 $ 41,348 $ — $ 41,674 2024 341 — — 341 2025 295 92,656 — 92,951 2026 — 44,727 102,000 146,727 2027 — — 575,000 575,000 Thereafter — — — — Total $ 962 $ 178,731 $ 677,000 $ 856,693
Summary of Interest Rate Swap Contracts Outstanding	The following table summarizes the Company’s interest rate swap contracts outstanding as of December 31, 2022. Date Effective Maturity Receive Floating Rate Index (a) Pay Notional Fair Value at 31, Assets June 7, 2016 July 1, 2016 July 1, 2023 1-month LIBOR 1.42 % 41,348 694 December 5, 2022 December 1, 2022 January 1, 2026 1-month Term SOFR 2.25 % 26,000 1,291 February 3, 2022 March 1, 2022 February 3, 2027 1-month Term SOFR 1.69 % 90,000 7,127 February 3, 2022 March 1, 2022 February 3, 2027 1-month Term SOFR 1.85 % 100,000 7,320 February 3, 2022 March 1, 2022 February 3, 2027 1-month Term SOFR 1.72 % 85,000 6,673 May 17, 2022 June 1, 2022 February 3, 2027 1-month Term SOFR 2.71 % 60,000 2,467 May 17, 2022 June 1, 2022 February 3, 2027 1-month Term SOFR 2.71 % 60,000 2,465 May 17, 2022 June 1, 2022 February 3, 2027 1-month Term SOFR 2.71 % 75,000 3,083 May 17, 2022 June 1, 2022 February 3, 2027 1-month Term SOFR 2.77 % 55,000 2,154 $ 592,348 $ 33,274 (a) At December 31, 2022, the one-month LIBOR and the one-month term SOFR were 4.39 % and 4.36 %, respectively.
Schedule of Effect of Derivatives on Consolidated Statements of Operations and Other Comprehensive Loss	The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and comprehensive loss for the years ended December 31, 2022, 2021 and 2020. Year Ended December 31, Derivatives in Cash Flow Hedging Relationships: 2022 2021 2020 Effective portion of derivatives $ 40,902 $ 2,445 $ ( 16,497 ) Reclassification adjustment for amounts included in net gain or loss (effective portion) $ 737 $ 7,654 $ 5,837

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Restricted Shares and Restricted Share Units	A summary of the Company’s restricted share and restricted share unit activity during the years ended December 31, 2022, 2021 and 2020 is as follows: Restricted Restricted Outstanding at December 31, 2019 3,906 1,480 Granted (at grant date fair value of $ 18.15 per share) 4,408 — Vested ( 1,857 ) ( 797 ) Outstanding at December 31, 2020 6,457 683 Granted (at grant date fair value of $ 18.08 per share) 4,425 4 Vested ( 2,774 ) ( 435 ) Outstanding at December 31, 2021 8,108 252 Granted (at grant date fair value of $ 20.20 per share) 4,752 4 Vested ( 3,688 ) ( 256 ) Outstanding at December 31, 2022 9,172 —

Income Tax and Distributions (T

Income Tax and Distributions (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax And Distributions [Abstract]
Schedule of Distributions Declared and Paid or Rescinded	The table below presents the distributions declared and paid or rescinded during the years ended December 31, 2022, 2021 and 2020. December 31, 2022 2021 2020 Distributions paid $ 19,583 $ 9,767 $ 10,841 Distributions declared $ 19,602 $ 14,655 $ 8,173 Distributions rescinded $ — $ — $ ( 8,173 )
Tax Character of Distributions to Common Stockholders	The following table sets forth the taxability of distributions on common shares, on a per share basis, paid in 2022, 2021 and 2020: 2022 2021 2020 Ordinary income $ — $ 0.12 $ — Capital gain $ — $ — $ — Nontaxable return of capital $ 0.54 $ 0.15 $ 0.30

Transactions with Related Par_2

Transactions with Related Parties (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the Company’s related party transactions for the years ended December 31, 2022, 2021 and 2020. Certain compensation and fees payable to the Business Manager for services provided to the Company are limited to maximum amounts. Year ended December 31, Unpaid amounts (f) as of 2022 2021 2020 December 31, 2022 December 31, 2021 General and administrative reimbursements (a) $ 1,664 $ 1,409 $ 1,505 $ 241 $ 209 Loan costs (b) $ 42 $ — $ — $ — $ — Acquisition related costs (c) $ 19 $ — $ — $ — $ — Real estate management fees $ 5,127 $ 4,734 $ 4,168 $ — $ — Property operating expenses 1,446 1,321 1,585 24 — Construction management fees 82 66 44 45 — Leasing fees 440 284 238 132 87 Total real estate management related costs (d) $ 7,095 $ 6,405 $ 6,035 $ 201 $ 87 Business management fees (e) $ 10,212 $ 8,950 $ 8,924 $ 2,713 $ 2,241 (a) The Business Manager and its related parties are entitled to reimbursement for certain general and administrative expenses incurred by the Business Manager or its related parties relating to the Company’s administration. Such costs are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties on the consolidated balance sheets. (b) The Business Manager and its related parties are entitled to reimbursement for certain legal costs related to securing financing for the Company. Such costs are capitalized as debt issuance costs on the consolidated balance sheets and amortized into interest expense on the consolidated statements of operations and comprehensive income over the term of the related financing. Unpaid amounts are included in due to related parties in the consolidated balance sheets. (c) The Business Manager and its related parties are reimbursed for acquisition and transaction related costs of the Business Manager and its related partied relating to the Company’s acquisition activities, regardless of whether the Company acquires the real estate assets. All of the $ 19 related party acquisition costs incurred during the year ended December 31, 2022 are capitalized in the accompanying consolidated balance sheets. See Note 4 – “Acquisitions” for further information. (d) For each property that is managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”) (and its predecessor), the Company pays a monthly real estate management fee of up to 1.9 % of the gross income from any single-tenant, net-leased property, and up to 3.9 % of the gross income from any other property type. The Real Estate Manager determines, in its sole discretion, the amount of the fee with respect to a particular property, subject to the limitations. For each property that is managed directly by the Real Estate Manager or its affiliates, the Company pays the Real Estate Manager a separate leasing fee. Further, in the event that the Company engages its Real Estate Manager to provide construction management services for a property, the Company pays a separate construction management fee. Leasing fees are included in deferred costs, net and construction management fees are included in building and other improvements in the consolidated balance sheets. The Company also reimburses the Real Estate Manager and its affiliates for property-level expenses that they pay or incur on the Company’s behalf, including the salaries, bonuses and benefits of persons performing services for the Real Estate Manager and its affiliates except for the salaries, bonuses and benefits of persons who also serve as an executive officer of the Real Estate Manager or the Company. Real estate management fees and reimbursable expenses are included in property operating expenses in the consolidated statements of operations and comprehensive loss. (e) The Company pays the Business Manager an annual business management fee equal to 0.65 % of its “average invested assets”. The fee is payable quarterly in an amount equal to 0.1625 % of its average invested assets as of the last day of the immediately preceding quarter. “Average invested assets” means, for any period, the average of the aggregate book value of the Company’s assets, including all intangibles and goodwill, invested, directly or indirectly, in equity interests in, and loans secured by, properties, as well as amounts invested in securities and consolidated and unconsolidated joint ventures or other partnerships, before reserves for amortization and depreciation or bad debts, impairments or other similar non-cash reserves, computed by taking the average of these values at the end of each month during the relevant calendar quarter. Unpaid amounts are included in due to related parties on the consolidated balance sheets. (f) In this table, unpaid amounts as of December 31, 2022 does not reflect $ 879 due to IRPF related to annual tenant reconciliations for the eight properties acquired during 2022.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Summary of Rental Income Related to Operating Leases	Rental income related to the Company's operating leases is comprised of the following for the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, 2022 2021 2020 Rental income - fixed payments $ 106,422 $ 95,157 $ 90,808 Rental income - variable payments (a) 26,192 23,027 22,646 Amortization of acquired market leases, net 818 773 2,073 Rental income $ 133,432 $ 118,957 $ 115,527 (a) Primarily includes tenant recovery income for real estate taxes, common area maintenance and insurance .
Schedule of Future Base Rent Payments to be Received Under Operating Leases	The future base rent payments to be received under operating leases including ground leases as of December 31, 2022 for the years indicated, assuming no expiring leases are renewed, are as follows: Lease 2023 $ 106,105 2024 95,037 2025 77,032 2026 65,074 2027 49,975 Thereafter 148,281 Total $ 541,504
Summary of Future Ground Lease Payments	Lease payments for the ground lease as of December 31, 2022 for each of the five succeeding years and thereafter is as follows: Lease 2023 $ 1,264 2024 1,264 2025 1,264 2026 1,264 2027 1,332 Thereafter 83,253 Total undiscounted lease payments 89,641 Less: Amount representing interest ( 64,925 ) Present value of lease liability $ 24,716

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on a Recurring Basis	For assets and liabilities measured at fair value on a recurring basis, the table below presents the fair value of the Company’s cash flow hedges as well as their classification on the consolidated balance sheets as of December 31, 2021 and 2020, respectively. Fair Value Level 1 Level 2 Level 3 Total December 31, 2022 Interest rate swap agreements - Other assets $ — $ 33,274 $ — $ 33,274 Interest rate swap agreements - Other liabilities $ — $ — $ — $ — December 31, 2021 Interest rate swap agreements - Other assets $ — $ — $ — $ — Interest rate swap agreements - Other liabilities $ — $ 7,469 $ — $ 7,469

Organization (Narrative) (Detai

Organization (Narrative) (Details)	1 Months Ended	12 Months Ended
	Jan. 31, 2020 Property	Dec. 31, 2022 ft² Property State	Mar. 06, 2023	May 17, 2022 Property
Organization [Line Items]
Number of properties sold	3
Number of properties acquired				8
Number of grocery-anchored properties				7
Number of retail properties owned		52
Square footage of real estate properties owned | ft²		7,168,022
Number of states in which company owns real estate properties | State		24
Weighted average physical occupancy rate of property portfolio		93%
Weighted average economic occupancy rate of property portfolio		93.50%
Share Repurchase Program [Member]
Organization [Line Items]
Suspension effective date		Jun. 26, 2020
Announcement date for reinstatement of Share Repurchase Program		Jun. 29, 2021
First share repurchase following the reinstatement of Share Repurchase Program occurred		Aug. 16, 2021
Subsequent Event [Member] | Share Repurchase Program [Member]
Organization [Line Items]
Percentage of share price on repurchase of shares			80%
DRP [Member]
Organization [Line Items]
Suspension effective date		Jun. 06, 2020
Announcement date for reinstatement of DRP		Jun. 29, 2021
Effective date of reinstatement of DRP		Jul. 22, 2021

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Earnout liability outstanding	$ 0
Provision for asset impairment	0	$ 0	$ 0
Depreciation expense	43,331,000	37,806,000	37,495,000
Amortization of leasing fees	876,000	731,000	$ 615,000
COVID-19 [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Deferred rent receivable	$ 35,000	$ 399,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Reconciliation of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 4,857	$ 8,229
Restricted cash	477	5,154
Total cash, cash equivalents, and restricted cash	$ 5,334	$ 13,383	$ 13,985	$ 5,533

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Schedule of Estimated Useful Lives of Assets ) (Details)	12 Months Ended
	Dec. 31, 2022
Building and other improvements [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	30 years
Site improvements [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	5 years
Site improvements [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	15 years
Furniture, fixtures and equipment [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	5 years
Furniture, fixtures and equipment [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	15 years
Tenant Improvements [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives, description	Shorter of the life of the asset or the term of the related lease
Leasing fees [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives, description	Term of the related lease

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($)		12 Months Ended			36 Months Ended
	Oct. 19, 2015	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Oct. 16, 2015	Mar. 03, 2020
Equity [Line Items]
Common stock, shares sold		36,184,058	36,040,928		33,534,022
Proceeds from offering					$ 834,399,000
Distribution reinvested		$ 7,287,000	$ 3,749,000	$ 4,547,000
Stock repurchase program, amount		3,645,000	2,777,000	127,000
Other liabilities		$ 8,574,000	14,414,000
Third Amended and Restated Share Repurchase Program [Member]
Equity [Line Items]
Stock repurchase program per share amount						$ 25
Limit on share repurchases as a percentage of proceeds of the distribution reinvestment program		50%
Description of share repurchase program		Under the Third A&R SRP, the Company is authorized to make ordinary repurchases and Exceptional Repurchases at a price equal to 80.0% of the “share price,” which is defined in the Third A&R SRP as an amount equal to the lesser of: (A) $25, as adjusted under certain circumstances, including, among other things, if the applicable shares were purchased from the Company at a discounted price; or (B) the most recently disclosed estimated value per share. Prior to the amendment, the Company was authorized to make Exceptional Repurchases at a price equal to 100% of the “share price.”The Third A&R SRP provides the Company’s board of directors with the discretion to reduce the funding for share repurchases. The Third A&R SRP limits the dollar amount for any repurchases made by the Company each calendar quarter to an amount equal to a percentage of the net proceeds from the DRP during the applicable quarter determined in the sole discretion of the board on a quarterly basis but that will not be less than 50%. The Company continues to limit the number of shares repurchased during any calendar year to 5% of the number of shares outstanding on December 31st of the previous calendar year, as adjusted for any stock splits or other combinations. The Company’s board of directors suspended the SRP effective June 26, 2020.
Third Amended and Restated Share Repurchase Program [Member] | Exceptional Repurchases [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares						80%
Fourth Amended and Restated Share Repurchase Program [Member]
Equity [Line Items]
Description of share repurchase program		On June 29, 2021, the Company announced the lifting of the suspension of its share repurchase program and adopted the fourth amendment and restatement of the SRP. The effective date of the reinstatement and the Fourth Amended and Restated Share Repurchase Program (the “Fourth SRP”) was August 12, 2021. Pursuant to the Fourth SRP, any written request for treatment as an Exceptional Repurchase due to the death or qualifying disability of an owner that occurred between June 1, 2019 and May 31, 2020 (inclusive) was timely if received by the Company no later than January 31, 2022, and any written request for treatment as an Exceptional Repurchase due to the death or qualifying disability of an owner that occurred between June 1, 2020 and July 31, 2021, (inclusive) was timely if received by the Company no later than July 31, 2022. If either or both of the repurchase limitations prevent the Company from repurchasing all of the shares offered for repurchase during a calendar quarter, the Company will repurchase shares, on a pro rata basis within each category below, in accordance with the repurchase limitations in the following order: (a) first, all Exceptional Repurchases and (b) second, all ordinary repurchases.
Prior Share Repurchase Agreement [Member] | Exceptional Repurchases [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares						100%
Stock Repurchase Program [Member]
Equity [Line Items]
Other liabilities		$ 0	0
Minimum [Member]
Equity [Line Items]
Stock repurchase program, to be held		1 year
Maximum [Member] | Third Amended and Restated Share Repurchase Program [Member]
Equity [Line Items]
Percentage of prior fiscal year end outstanding shares that may be repurchased		5%
DRP [Member]
Equity [Line Items]
Number of shares available to be issued under the DRP	25,000,000
Distribution reinvested		$ 7,287,000	$ 3,749,000	$ 4,547,000

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	May 17, 2022 ft² Property State
Business Combinations [Abstract]
Number of properties acquired | Property		8
Number of grocery-anchored properties | Property		7
Number of states in which property acquired | State		7
Square footage of properties acquired | ft²		686,851
Acquisition costs	$ 710
Income from acquired property	14,640
Income from acquired property, net	$ 9,286

Acquisitions - Schedule of Prop

Acquisitions - Schedule of Properties Acquired (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) ft² Transaction Property	May 17, 2022 Property
Business Acquisition [Line Items]
Number of Properties | Property		8
Square Footage | ft²	686,851
Purchase Price | $	$ 278,153
IRPF Properties [Member]
Business Acquisition [Line Items]
Date Acquired	May 17, 2022
Number of Transactions | Transaction	1
Number of Properties | Property	8
Square Footage | ft²	686,851
Purchase Price | $	$ 278,153

Acquisitions - Schedule of Majo

Acquisitions - Schedule of Major Assets Acquired and Liabilities Assumed (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Business Combinations [Abstract]
Land	$ 62,510
Building and improvements	192,722
Acquired lease intangible assets	33,285
Acquired intangible liabilities	(9,654)
Assumed liabilities, net	(983)
Total	$ 277,880

Dispositions - Additional Infor

Dispositions - Additional Information (Details)	1 Months Ended	12 Months Ended
	Jan. 31, 2020 USD ($) Property	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Assets Of Disposal Group Including Discontinued Operation [Abstract]
Number of properties sold | Property	3
Cash proceeds from sale of property	$ 37,255,000			$ 37,255,000
Provision for asset impairment		$ 0	$ 0	0
Number of additional properties sold | Property	3
Proceeds from sale of investment properties	$ 37,255,000			$ 37,255,000

Acquired Intangible Assets an_3

Acquired Intangible Assets and Liabilities (Schedule of Intangible Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Intangible assets:
Accumulated amortization	$ (158,984)	$ (144,457)
Acquired lease intangibles, net	76,961	58,203
Intangible liabilities:
Acquired below market lease value	79,914	70,260
Accumulated amortization	(36,575)	(32,342)
Acquired below market lease intangibles, net	43,339	37,918
Acquired in-place lease value [Member]
Intangible assets:
Acquired intangible assets	183,305	156,918
Acquired lease intangibles, net	52,617
Acquired above market lease value [Member]
Intangible assets:
Acquired intangible assets	52,640	$ 45,742
Acquired lease intangibles, net	$ 24,344

Acquired Intangible Assets an_4

Acquired Intangible Assets and Liabilities (Schedule of Amortization of Acquired In Place Lease Value, Above Market Ground Lease, Above and Below Market Lease Values) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ 818	$ 773	$ 2,073
Acquired in-place lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as amortization expense	11,112	10,369	14,724
Acquired above market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	(3,415)	(2,966)	(3,089)
Acquired below market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ 4,233	$ 3,739	$ 5,162

Acquired Intangible Assets an_5

Acquired Intangible Assets and Liabilities (Schedule of Estimated Amortization of Intangible Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Future amortization for acquired in-place and above market lease assets:
Acquired lease intangibles, net	$ 76,961	$ 58,203
Future amortization for below market lease liabilities:
2023	3,639
2024	3,509
2025	3,263
2026	3,125
2027	2,895
Thereafter	26,908
Total	43,339
Acquired in-place lease value [Member]
Future amortization for acquired in-place and above market lease assets:
2023	10,861
2024	9,273
2025	6,873
2026	5,121
2027	3,666
Thereafter	16,823
Acquired lease intangibles, net	52,617
Above Market Leases [Member]
Future amortization for acquired in-place and above market lease assets:
2023	3,561
2024	3,323
2025	2,937
2026	2,510
2027	1,860
Thereafter	10,153
Acquired lease intangibles, net	$ 24,344

Debt and Derivative Instrumen_3

Debt and Derivative Instruments (Schedule of Mortgages and Credit Facility Payable) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 179,693	$ 317,943
Credit facility payable	677,000	279,000
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	856,693	596,943
Add: Unamortized mortgage premiums		17
Less: Unamortized debt issuance costs	(4,348)	(1,418)
Total debt	$ 852,345	$ 595,542
Mortgages Payable, Weighted Average Interest Rate	3.79%	3.59%
Credit Facilities Payable, Weighted Average Interest Rate	4.56%	3.03%
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps, Weighted Average Interest Rate	4.40%	3.33%
Fixed rate mortgages payable [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 112,345	$ 118,463
Mortgages Payable, Weighted Average Interest Rate	3.84%	3.88%
Variable rate mortgages payable with swap agreements [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 67,348	$ 198,796
Mortgages Payable, Weighted Average Interest Rate	3.71%	3.42%
Variable rate mortgages payable [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable		$ 684
Mortgages Payable, Weighted Average Interest Rate	0%	1.70%

Debt and Derivative Instrumen_4

Debt and Derivative Instruments (Narrative) (Details) $ in Thousands			12 Months Ended
	May 17, 2022 USD ($)	Feb. 03, 2022 USD ($)	Dec. 31, 2022 USD ($) Property	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Indebtedness includes effects of interest rate swap, weighted average interest rate			4.40%
Carrying value of debt			$ 856,693	$ 596,943
Estimated fair value of debt			847,652	591,089
Outstanding line of credit			677,000	279,000
Interest expense			33,069	$ 23,240	$ 25,349
Amount expected to be reclassified from accumulated other comprehensive loss into income in the next twelve months			$ 13,712
Mortgages Payable [Member]
Debt Instrument [Line Items]
Debt, covenant compliance			the Company was current on all of its debt service payments and in compliance with all financial covenants.
Weighted Average Years to Maturity			2 years 4 months 24 days
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Outstanding line of credit			$ 102,000
Credit facility, interest rate			6.12%
Credit facility, maturity date		Feb. 03, 2026
Line of credit facility, expiration date, extension period		1 year
Credit facility available for borrowing			$ 98,000
Revolving Credit Facility [Member] | Lenders [Member]
Debt Instrument [Line Items]
Aggregate amount of commitments		$ 200,000
Term Loan [Member]
Debt Instrument [Line Items]
Incremental amount borrowed under the term loan	$ 300,000
Outstanding line of credit			$ 575,000
Credit facility, interest rate			4.28%
Credit facility, maturity date		Feb. 03, 2027
Credit Facility [Member]
Debt Instrument [Line Items]
Carrying value of debt			$ 677,000
Number of properties pledged as collateral | Property			46
Debt, covenant compliance			the Company is in compliance with all financial covenants related to the Credit Facility as amended.
Minimum [Member] | Revolving Credit Facility [Member] | Lenders [Member]
Debt Instrument [Line Items]
Increase in aggregate total commitments under credit facility		$ 350,000
Number of unencumbered properties | Property			15
Unencumbered pool value			$ 300,000
Minimum [Member] | Term Loan [Member] | Lenders [Member]
Debt Instrument [Line Items]
Aggregate amount of term loan commitments		150,000
Maximum [Member] | Revolving Credit Facility [Member] | Lenders [Member]
Debt Instrument [Line Items]
Increase in aggregate total commitments under credit facility		475,000
Time to time increasing size of credit facility		1,200,000
Maximum [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Credit facility available for borrowing			$ 98,000
Maximum [Member] | Term Loan [Member] | Lenders [Member]
Debt Instrument [Line Items]
Aggregate amount of term loan commitments		$ 275,000

Debt and Derivative Instrumen_5

Debt and Derivative Instruments (Schedule of Principal Payments and Maturities of Company's Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2023	$ 41,674
2024	341
2025	92,951
2026	146,727
2027	575,000
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	856,693	$ 596,943
Maturity of Credit Facility [Member]
Debt Instrument [Line Items]
2026	102,000
2027	575,000
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	677,000
Maturities of Mortgage Loans [Member]
Debt Instrument [Line Items]
2023	41,348
2024
2025	92,656
2026	44,727
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	178,731
Scheduled Principal Payments [Member]
Debt Instrument [Line Items]
2023	326
2024	341
2025	295
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	$ 962

Debt and Derivative Instrumen_6

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Derivative assets, notional amount	$ 592,348
Fair value of derivative assets measured on recurring basis	$ 33,274
Interest Rate Swap One [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jun. 07, 2016
Derivative instrument, effective date	Jul. 01, 2016
Derivative instrument, maturity date	Jul. 01, 2023
Derivative instrument, receive floating rate index	1-month LIBOR	[1]
Derivative instrument, pay fixed interest rate	1.42%
Derivative assets, notional amount	$ 41,348
Fair value of derivative assets measured on recurring basis	$ 694
Interest Rate Swap Two [Member]
Derivative [Line Items]
Derivative instrument, date entered	Dec. 05, 2022
Derivative instrument, effective date	Dec. 01, 2022
Derivative instrument, maturity date	Jan. 01, 2026
Derivative instrument, receive floating rate index	1-month Term SOFR	[1]
Derivative instrument, pay fixed interest rate	2.25%
Derivative assets, notional amount	$ 26,000
Fair value of derivative assets measured on recurring basis	$ 1,291
Interest Rate Swap Three [Member]
Derivative [Line Items]
Derivative instrument, date entered	Feb. 03, 2022
Derivative instrument, effective date	Mar. 01, 2022
Derivative instrument, maturity date	Feb. 03, 2027
Derivative instrument, receive floating rate index	1-month Term SOFR	[1]
Derivative instrument, pay fixed interest rate	1.69%
Derivative assets, notional amount	$ 90,000
Fair value of derivative assets measured on recurring basis	$ 7,127
Interest Rate Swap Four [Member]
Derivative [Line Items]
Derivative instrument, date entered	Feb. 03, 2022
Derivative instrument, effective date	Mar. 01, 2022
Derivative instrument, maturity date	Feb. 03, 2027
Derivative instrument, receive floating rate index	1-month Term SOFR	[1]
Derivative instrument, pay fixed interest rate	1.85%
Derivative assets, notional amount	$ 100,000
Fair value of derivative assets measured on recurring basis	$ 7,320
Interest Rate Swap Five [Member]
Derivative [Line Items]
Derivative instrument, date entered	Feb. 03, 2022
Derivative instrument, effective date	Mar. 01, 2022
Derivative instrument, maturity date	Feb. 03, 2027
Derivative instrument, receive floating rate index	1-month Term SOFR	[1]
Derivative instrument, pay fixed interest rate	1.72%
Derivative assets, notional amount	$ 85,000
Fair value of derivative assets measured on recurring basis	$ 6,673
Interest Rate Swap Six [Member]
Derivative [Line Items]
Derivative instrument, date entered	May 17, 2022
Derivative instrument, effective date	Jun. 01, 2022
Derivative instrument, maturity date	Feb. 03, 2027
Derivative instrument, receive floating rate index	1-month Term SOFR
Derivative instrument, pay fixed interest rate	2.71%
Derivative assets, notional amount	$ 60,000
Fair value of derivative assets measured on recurring basis	$ 2,467
Interest Rate Swap Seven [Member]
Derivative [Line Items]
Derivative instrument, date entered	May 17, 2022
Derivative instrument, effective date	Jun. 01, 2022
Derivative instrument, maturity date	Feb. 03, 2027
Derivative instrument, receive floating rate index	1-month Term SOFR	[1]
Derivative instrument, pay fixed interest rate	2.71%
Derivative assets, notional amount	$ 60,000
Fair value of derivative assets measured on recurring basis	$ 2,465
Interest Rate Swap Eight [Member]
Derivative [Line Items]
Derivative instrument, date entered	May 17, 2022
Derivative instrument, effective date	Jun. 01, 2022
Derivative instrument, maturity date	Feb. 03, 2027
Derivative instrument, receive floating rate index	1-month Term SOFR	[1]
Derivative instrument, pay fixed interest rate	2.71%
Derivative assets, notional amount	$ 75,000
Fair value of derivative assets measured on recurring basis	$ 3,083
Interest Rate Swap Nine [Member]
Derivative [Line Items]
Derivative instrument, date entered	May 17, 2022
Derivative instrument, effective date	Jun. 01, 2022
Derivative instrument, maturity date	Feb. 03, 2027
Derivative instrument, receive floating rate index	1-month Term SOFR	[1]
Derivative instrument, pay fixed interest rate	2.77%
Derivative assets, notional amount	$ 55,000
Fair value of derivative assets measured on recurring basis	$ 2,154
[1] At December 31, 2022, the one-month LIBOR and the one-month term SOFR were 4.39 % and 4.36 %, respectively.

Debt and Derivative Instrumen_7

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2022
LIBOR [Member]
Derivative [Line Items]
Derivative instrument, receive floating rate index	one-month LIBOR
One month floating rate	4.39%
SOFR
Derivative [Line Items]
Derivative instrument, receive floating rate index	one-month term SOFR
One month floating rate	4.36%

Debt and Derivative Instrumen_8

Debt and Derivative Instruments (Schedule of Effect of Derivatives on Consolidated Statements of Operations and Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment for amounts included in net gain or loss (effective portion)	$ 737	$ 7,654	$ 5,837
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion of derivatives	40,902	2,445	(16,497)
Reclassification adjustment for amounts included in net gain or loss (effective portion)	$ 737	$ 7,654	$ 5,837

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 02, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting percentage	33.33%
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares issued upon vesting		1
Share-based compensation shares issued		4,752
Restricted Stock [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting period		3 years
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining period unrecognized compensation expense related to non-vested		1 year 8 months 12 days
Common stock shares issued upon vesting		1
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting period		3 years
Restricted Shares and Restricted Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense of unvested share-based awards		$ 119
Total fair value at vesting date		80	$ 58	$ 48
Non-Employee Directors [Member] | Restricted Shares and Restricted Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense		$ 74	$ 51	$ 68

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary of the Restricted Shares and Restricted Share Units) (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares	8,108	6,457	3,906
Granted, Shares	4,752	4,425	4,408
Vested, Shares	(3,688)	(2,774)	(1,857)
Outstanding, Shares	9,172	8,108	6,457
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares	252	683	1,480
Granted, Shares	4	4
Vested, Shares	(256)	(435)	(797)
Outstanding, Shares		252	683

Equity-Based Compensation (Su_2

Equity-Based Compensation (Summary of the Restricted Shares and Restricted Share Units) (Parenthetical) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Granted, Grant Date Fair Value	$ 20.20	$ 18.08	$ 18.15

Income Tax and Distributions (N

Income Tax and Distributions (Narrative) (Details) - USD ($)				12 Months Ended
	Jan. 07, 2022	Oct. 07, 2021	Jun. 29, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2021	Jun. 30, 2021
Income Tax And Distributions [Line Items]
REIT taxable income (loss)				$ 59,000	$ 4,154,000	$ (11,950,000)
Uncertain tax positions				0	0
Increases or decreases in uncertain tax positions due to changes in tax positions				0
Interest or penalties recognized				$ 0	$ 0	$ 0
Tax examination year				2019 2020 2021 2022
Amount per share of distributions				$ 0.135600	$ 0.135600				$ 0.135600	$ 0.135600
Dividends payable, date declared			Jun. 29, 2021
Dividends payable, date of record	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021
Dividends payable, date to be paid	Jan. 07, 2022	Oct. 07, 2021	Jul. 26, 2021
Annualized rate on Estimated Per Share NAV				3%
Mainstreet Texas Development Fund, LLC ("Mainstreet JV") [Member]
Income Tax And Distributions [Line Items]
Provision for asset impairment								$ 15,405,000
Effective income tax rate						28.51%
Federal tax rate						21%
Deferred tax benefit related to impairment								4,400,000
Full valuation allowance								$ 4,400,000
Reduction in the valuation allowance							$ 1,560,000
Reduction in the deferred tax asset							1,560,000
Deferred tax asset							$ 2,840,000
Income tax expense (benefit)				$ 0	$ 0	$ 0
Capital loss carryforwards				$ 9,931,000
Capital loss carryforwards expiration date				2024
Mainstreet Texas Development Fund, LLC ("Mainstreet JV") [Member] | ILLINOIS [Member]
Income Tax And Distributions [Line Items]
State rate						9.50%
IL tax rate						7.51%
Minimum [Member]
Income Tax And Distributions [Line Items]
Percentage of adjusted REIT taxable income require to distribute among shareholders				90%

Income Tax and Distributions (S

Income Tax and Distributions (Schedule of Distributions Declared and Paid or Rescinded) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax And Distributions [Abstract]
Distributions paid	$ 19,583	$ 9,767	$ 10,841
Distributions declared	$ 19,602	$ 14,655	8,173
Distributions rescinded			$ (8,173)

Income Tax and Distributions -

Income Tax and Distributions - (Tax Character of Distributions to Common Stockholders) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax And Distributions [Abstract]
Ordinary income		$ 0.12
Nontaxable return of capital	$ 0.54	$ 0.15	$ 0.30

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Additional shares excluded from the computation of diluted earnings per share	7,664	4,304	4,287

Segment Reporting (Details)

Segment Reporting (Details) - Segment	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
Number of reportable segments	1	1	1

Transactions with Related Par_3

Transactions with Related Parties (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Due to related parties		$ 4,034	$ 2,537
General and Administrative Reimbursements [Member]
Related Party Transaction [Line Items]
General and administrative expenses incurred with related party	[1]	1,664	1,409	$ 1,505
Due to related parties	[1],[2]	241	209
Loan Costs [Member]
Related Party Transaction [Line Items]
Loan costs with related party	[3]	42
Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Acquisition costs with related party	[4]	19
Real Estate Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		5,127	4,734	4,168
Property Operating Expenses [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		1,446	1,321	1,585
Due to related parties	[2]	24
Construction Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		82	66	44
Due to related parties	[2]	45
Leasing fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		440	284	238
Due to related parties	[2]	132	87
Real Estate Management Costs [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party	[5]	7,095	6,405	6,035
Due to related parties	[2],[5]	201	87
Business Management Fee [Member]
Related Party Transaction [Line Items]
Acquisition costs with related party	[6]	10,212	8,950	$ 8,924
Due to related parties	[2],[6]	$ 2,713	$ 2,241
[1] The Business Manager and its related parties are entitled to reimbursement for certain general and administrative expenses incurred by the Business Manager or its related parties relating to the Company’s administration. Such costs are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties on the consolidated balance sheets. In this table, unpaid amounts as of December 31, 2022 does not reflect $ 879 due to IRPF related to annual tenant reconciliations for the eight properties acquired during 2022. The Business Manager and its related parties are entitled to reimbursement for certain legal costs related to securing financing for the Company. Such costs are capitalized as debt issuance costs on the consolidated balance sheets and amortized into interest expense on the consolidated statements of operations and comprehensive income over the term of the related financing. Unpaid amounts are included in due to related parties in the consolidated balance sheets. The Business Manager and its related parties are reimbursed for acquisition and transaction related costs of the Business Manager and its related partied relating to the Company’s acquisition activities, regardless of whether the Company acquires the real estate assets. All of the $ 19 related party acquisition costs incurred during the year ended December 31, 2022 are capitalized in the accompanying consolidated balance sheets. See Note 4 – “Acquisitions” for further information. For each property that is managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”) (and its predecessor), the Company pays a monthly real estate management fee of up to 1.9 % of the gross income from any single-tenant, net-leased property, and up to 3.9 % of the gross income from any other property type. The Real Estate Manager determines, in its sole discretion, the amount of the fee with respect to a particular property, subject to the limitations. For each property that is managed directly by the Real Estate Manager or its affiliates, the Company pays the Real Estate Manager a separate leasing fee. Further, in the event that the Company engages its Real Estate Manager to provide construction management services for a property, the Company pays a separate construction management fee. Leasing fees are included in deferred costs, net and construction management fees are included in building and other improvements in the consolidated balance sheets. The Company also reimburses the Real Estate Manager and its affiliates for property-level expenses that they pay or incur on the Company’s behalf, including the salaries, bonuses and benefits of persons performing services for the Real Estate Manager and its affiliates except for the salaries, bonuses and benefits of persons who also serve as an executive officer of the Real Estate Manager or the Company. Real estate management fees and reimbursable expenses are included in property operating expenses in the consolidated statements of operations and comprehensive loss. The Company pays the Business Manager an annual business management fee equal to 0.65 % of its “average invested assets”. The fee is payable quarterly in an amount equal to 0.1625 % of its average invested assets as of the last day of the immediately preceding quarter. “Average invested assets” means, for any period, the average of the aggregate book value of the Company’s assets, including all intangibles and goodwill, invested, directly or indirectly, in equity interests in, and loans secured by, properties, as well as amounts invested in securities and consolidated and unconsolidated joint ventures or other partnerships, before reserves for amortization and depreciation or bad debts, impairments or other similar non-cash reserves, computed by taking the average of these values at the end of each month during the relevant calendar quarter. Unpaid amounts are included in due to related parties on the consolidated balance sheets.

Transactions with Related Par_4

Transactions with Related Parties (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Property	May 17, 2022 Property	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Related party acquisition costs	$ 19
Annual business management fee to its average invested assets, percentage	0.65%
Quarterly payable business management fee to its average invested assets, percentage	0.1625%
Due to related parties	$ 4,034		$ 2,537
Number of properties acquired | Property		8
IRPF Properties [Member]
Related Party Transaction [Line Items]
Due to related parties	$ 879
Number of properties acquired | Property	8
Monthly Real Estate Management Fee Of Single Tenant Property [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Property management fee, percentage of gross income	1.90%
Monthly Real Estate Management Fee Of Any Other Property [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Property management fee, percentage of gross income	3.90%

Leases - Additional Information

Leases - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) OperatingLease	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jul. 01, 2007 RenewalOption GroundLease
Operating Leased Assets [Line Items]
Number of retail operating leases | OperatingLease	800
Number of ground leases | GroundLease				1
Number of lessee renewal options | RenewalOption				6
Lessee, operating lease, renewal term				5 years
Operating lease liability	$ 24,716	$ 24,396
Operating lease right-of-use asset, net	$ 14,153	14,570
Interest rate	6.225%
Accounts and rent receivable	$ 20,114	18,560
COVID-19 [Member]
Operating Leased Assets [Line Items]
Accounts and rent receivable	20,114	18,560
Allowance for bad debts	1,119	1,259
Deferred rent receivable	35	399
Property Operating Expenses [Member]
Operating Leased Assets [Line Items]
Total rent expense	$ 1,944	$ 1,944	$ 1,944
Minimum [Member]
Operating Leased Assets [Line Items]
Lessor, operating leases, remaining lease term	1 year
Maximum [Member]
Operating Leased Assets [Line Items]
Lessor, operating leases, remaining lease term	15 years

Leases - Summary of Rental Inco

Leases - Summary of Rental Income Related to Operating Leases (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Leases Lease Income [Abstract]
Rental income - fixed payments		$ 106,422	$ 95,157	$ 90,808
Rental income - variable payments	[1]	26,192	23,027	22,646
Amortization of acquired market leases, net		818	773	2,073
Rental income		$ 133,432	$ 118,957	$ 115,527
[1] Primarily includes tenant recovery income for real estate taxes, common area maintenance and insurance

Leases - Schedule of Future Bas

Leases - Schedule of Future Base Rent Payments to be Received Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 106,105
2024	95,037
2025	77,032
2026	65,074
2027	49,975
Thereafter	148,281
Total	$ 541,504

Leases - Summary of Future Grou

Leases - Summary of Future Ground Lease Payments (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Leases Future Minimum Payments Due [Abstract]
2023	$ 1,264
2024	1,264
2025	1,264
2026	1,264
2027	1,332
Thereafter	83,253
Total undiscounted lease payments	89,641
Less: Amount representing interest	(64,925)
Present value of lease liability	$ 24,716	$ 24,396

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Fair Value Assets and Liabilities Measured on a Recurring Basis) (Details) - Recurring [Member] - Interest Rate Swap Agreements [Member] - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Assets [Member]
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other assets	$ 33,274
Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other liabilities		$ 7,469
Level 2 [Member] | Other Assets [Member]
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other assets	$ 33,274
Level 2 [Member] | Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other liabilities		$ 7,469

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details)		1 Months Ended	12 Months Ended
	Mar. 23, 2023	Mar. 22, 2023	Dec. 31, 2022	Mar. 06, 2023
Subsequent Event [Line Items]
Annual business management fee to its average invested assets, percentage			0.65%
Subsequent Event [Member] | Business Management Agreement [Member]
Subsequent Event [Line Items]
Annual business management fee to its average invested assets, percentage	0.55%	0.65%
Percentage of minimum operating expense to average invested assets	2%
Percentage of minimum operating expense to net income	25%
Subsequent Event [Member] | Share Repurchase Program [Member]
Subsequent Event [Line Items]
Percentage of share price on repurchase of shares				80%

Schedule - Schedule III Real _2

Schedule - Schedule III Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands				12 Months Ended
		Dec. 31, 2022		Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 179,693		$ 179,693
Initial cost, Land	[1]	330,456		330,456
Initial cost, Buildings and Improvements	[1]	1,147,322		1,147,322
Cost Capitalized Subsequent to Acquisitions	[2]	50,987		50,987
Gross amount carried at end of period, Land	[3],[4]	330,456		330,456
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	1,198,309		1,198,309
Gross amount carried at end of period, Total		1,528,765	[3],[4]	1,528,765	[3],[4]	$ 1,261,075	$ 1,255,127	$ 1,251,869
Accumulated Depreciation		(288,863)	[5]	(288,863)	[5]	$ (245,532)	$ (207,764)	$ (170,269)
Blossom Valley Plaza [Member] | Turlock, CA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	9,515		9,515
Initial cost, Buildings and Improvements	[1]	11,142		11,142
Cost Capitalized Subsequent to Acquisitions	[2]	797		797
Gross amount carried at end of period, Land	[3],[4]	9,515		9,515
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	11,939		11,939
Gross amount carried at end of period, Total	[3],[4]	21,454		21,454
Accumulated Depreciation	[5]	(3,352)		$ (3,352)
Date Constructed				1988
Date Acquired				2015
Blossom Valley Plaza [Member] | Turlock, CA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Blossom Valley Plaza [Member] | Turlock, CA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Branson Hills Plaza [Member] | Branson, MO [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	3,787		$ 3,787
Initial cost, Buildings and Improvements	[1]	6,039		6,039
Cost Capitalized Subsequent to Acquisitions	[2]	174		174
Gross amount carried at end of period, Land	[3],[4]	3,787		3,787
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	6,213		6,213
Gross amount carried at end of period, Total	[3],[4]	10,000		10,000
Accumulated Depreciation	[5]	(1,905)		$ (1,905)
Date Constructed				2005
Date Acquired				2014
Branson Hills Plaza [Member] | Branson, MO [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Branson Hills Plaza [Member] | Branson, MO [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
CityPlace [Member] | Woodbury, MN [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	16,609		$ 16,609
Initial cost, Buildings and Improvements	[1]	54,245		54,245
Cost Capitalized Subsequent to Acquisitions	[2]	39		39
Gross amount carried at end of period, Land	[3],[4]	16,609		16,609
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	54,284		54,284
Gross amount carried at end of period, Total	[3],[4]	70,893		70,893
Accumulated Depreciation	[5]	(1,388)		$ (1,388)
Date Acquired				2022
CityPlace [Member] | Woodbury, MN [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2016
Depreciable Lives				15 years
CityPlace [Member] | Woodbury, MN [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2018
Depreciable Lives				30 years
Coastal North Town Center [Member] | Myrtle Beach, SC [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		41,348		$ 41,348
Initial cost, Land	[1]	13,725		13,725
Initial cost, Buildings and Improvements	[1]	49,673		49,673
Cost Capitalized Subsequent to Acquisitions	[2]	(1,115)		(1,115)
Gross amount carried at end of period, Land	[3],[4]	13,725		13,725
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	48,558		48,558
Gross amount carried at end of period, Total	[3],[4]	62,283		62,283
Accumulated Depreciation	[5]	(11,873)		$ (11,873)
Date Constructed				2014
Date Acquired				2016
Coastal North Town Center [Member] | Myrtle Beach, SC [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Coastal North Town Center [Member] | Myrtle Beach, SC [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Coastal North Town Center Phase II [Member] | Myrtle Beach, SC [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	365		$ 365
Initial cost, Buildings and Improvements	[1]	3,034		3,034
Gross amount carried at end of period, Land	[3],[4]	365		365
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	3,034		3,034
Gross amount carried at end of period, Total	[3],[4]	3,399		3,399
Accumulated Depreciation	[5]	(598)		$ (598)
Date Constructed				2016
Date Acquired				2017
Coastal North Town Center Phase II [Member] | Myrtle Beach, SC [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Coastal North Town Center Phase II [Member] | Myrtle Beach, SC [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Denton Village [Member] | Denton TX [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	1,312		$ 1,312
Initial cost, Buildings and Improvements	[1]	15,308		15,308
Gross amount carried at end of period, Land	[3],[4]	1,312		1,312
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	15,308		15,308
Gross amount carried at end of period, Total	[3],[4]	16,620		16,620
Accumulated Depreciation	[5]	(374)		$ (374)
Date Constructed				2016
Date Acquired				2022
Denton Village [Member] | Denton TX [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Denton Village [Member] | Denton TX [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Dixie Valley [Member] | Louisville, KY [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	2,807		$ 2,807
Initial cost, Buildings and Improvements	[1]	9,053		9,053
Cost Capitalized Subsequent to Acquisitions	[2]	2,239		2,239
Gross amount carried at end of period, Land	[3],[4]	2,807		2,807
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	11,292		11,292
Gross amount carried at end of period, Total	[3],[4]	14,099		14,099
Accumulated Depreciation	[5]	(3,332)		$ (3,332)
Date Constructed				1988
Date Acquired				2014
Dixie Valley [Member] | Louisville, KY [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Dixie Valley [Member] | Louisville, KY [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Dogwood Festival [Member] | Flowood, MO [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	4,500		$ 4,500
Initial cost, Buildings and Improvements	[1]	41,865		41,865
Cost Capitalized Subsequent to Acquisitions	[2]	3,916		3,916
Gross amount carried at end of period, Land	[3],[4]	4,500		4,500
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	45,781		45,781
Gross amount carried at end of period, Total	[3],[4]	50,281		50,281
Accumulated Depreciation	[5]	(14,425)		$ (14,425)
Date Constructed				2002
Date Acquired				2014
Dogwood Festival [Member] | Flowood, MO [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				5 years
Dogwood Festival [Member] | Flowood, MO [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Eastside Junction [Member] | Athens, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	2,411		$ 2,411
Initial cost, Buildings and Improvements	[1]	8,393		8,393
Cost Capitalized Subsequent to Acquisitions	[2]	120		120
Gross amount carried at end of period, Land	[3],[4]	2,411		2,411
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	8,513		8,513
Gross amount carried at end of period, Total	[3],[4]	10,924		10,924
Accumulated Depreciation	[5]	(2,562)		$ (2,562)
Date Constructed				2008
Date Acquired				2015
Eastside Junction [Member] | Athens, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Eastside Junction [Member] | Athens, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Fairgrounds Crossing [Member] | Hot Springs, AR [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	6,069		$ 6,069
Initial cost, Buildings and Improvements	[1]	22,637		22,637
Cost Capitalized Subsequent to Acquisitions	[2]	1,117		1,117
Gross amount carried at end of period, Land	[3],[4]	6,069		6,069
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	23,754		23,754
Gross amount carried at end of period, Total	[3],[4]	29,823		29,823
Accumulated Depreciation	[5]	(6,781)		$ (6,781)
Date Constructed				2008
Date Acquired				2015
Fairgrounds Crossing [Member] | Hot Springs, AR [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Fairgrounds Crossing [Member] | Hot Springs, AR [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Fox Point Plaza [Member] | Neenah, WI [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	3,518		$ 3,518
Initial cost, Buildings and Improvements	[1]	12,681		12,681
Cost Capitalized Subsequent to Acquisitions	[2]	2,858		2,858
Gross amount carried at end of period, Land	[3],[4]	3,518		3,518
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	15,539		15,539
Gross amount carried at end of period, Total	[3],[4]	19,057		19,057
Accumulated Depreciation	[5]	(4,549)		$ (4,549)
Date Constructed				2008
Date Acquired				2014
Fox Point Plaza [Member] | Neenah, WI [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Fox Point Plaza [Member] | Neenah, WI [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Frisco Marketplace [Member] | Frisco, TX [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	6,618		$ 6,618
Initial cost, Buildings and Improvements	[1]	3,315		3,315
Gross amount carried at end of period, Land	[3],[4]	6,618		6,618
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	3,315		3,315
Gross amount carried at end of period, Total	[3],[4]	9,933		9,933
Accumulated Depreciation	[5]	(1,182)		$ (1,182)
Date Constructed				2002
Date Acquired				2015
Frisco Marketplace [Member] | Frisco, TX [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Frisco Marketplace [Member] | Frisco, TX [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Green Tree Shopping Center [Member] | Katy, TX [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	7,218		$ 7,218
Initial cost, Buildings and Improvements	[1]	17,846		17,846
Cost Capitalized Subsequent to Acquisitions	[2]	1,059		1,059
Gross amount carried at end of period, Land	[3],[4]	7,218		7,218
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	18,905		18,905
Gross amount carried at end of period, Total	[3],[4]	26,123		26,123
Accumulated Depreciation	[5]	(5,219)		$ (5,219)
Date Constructed				1997
Date Acquired				2015
Green Tree Shopping Center [Member] | Katy, TX [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				5 years
Green Tree Shopping Center [Member] | Katy, TX [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Harris Plaza [Member] | Layton, UT [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	6,500		$ 6,500
Initial cost, Buildings and Improvements	[1]	19,403		19,403
Cost Capitalized Subsequent to Acquisitions	[2]	2,306		2,306
Gross amount carried at end of period, Land	[3],[4]	6,500		6,500
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	21,709		21,709
Gross amount carried at end of period, Total	[3],[4]	28,209		28,209
Accumulated Depreciation	[5]	(7,210)		$ (7,210)
Date Acquired				2014
Harris Plaza [Member] | Layton, UT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2001
Depreciable Lives				15 years
Harris Plaza [Member] | Layton, UT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2008
Depreciable Lives				30 years
Harvest Square [Member] | Harvest, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	2,186		$ 2,186
Initial cost, Buildings and Improvements	[1]	9,330		9,330
Cost Capitalized Subsequent to Acquisitions	[2]	186		186
Gross amount carried at end of period, Land	[3],[4]	2,186		2,186
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	9,516		9,516
Gross amount carried at end of period, Total	[3],[4]	11,702		11,702
Accumulated Depreciation	[5]	(3,040)		$ (3,040)
Date Constructed				2008
Date Acquired				2014
Harvest Square [Member] | Harvest, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Harvest Square [Member] | Harvest, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Heritage Square [Member] | Conyers, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	2,028		$ 2,028
Initial cost, Buildings and Improvements	[1]	5,538		5,538
Cost Capitalized Subsequent to Acquisitions	[2]	364		364
Gross amount carried at end of period, Land	[3],[4]	2,028		2,028
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	5,902		5,902
Gross amount carried at end of period, Total	[3],[4]	7,930		7,930
Accumulated Depreciation	[5]	(1,852)		$ (1,852)
Date Constructed				2010
Date Acquired				2014
Heritage Square [Member] | Conyers, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Heritage Square [Member] | Conyers, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Kroger - Copps Grocery Store [Member] | Stevens Point, WI [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1],[3]	1,440		$ 1,440
Initial cost, Buildings and Improvements	[1],[3]	11,799		11,799
Gross amount carried at end of period, Land	[3],[4]	1,440		1,440
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	11,799		11,799
Gross amount carried at end of period, Total	[3],[4]	13,239		13,239
Accumulated Depreciation	[3],[5]	(3,480)		$ (3,480)
Date Constructed	[3]			2012
Date Acquired	[3]			2014
Kroger - Copps Grocery Store [Member] | Stevens Point, WI [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[3]			15 years
Kroger - Copps Grocery Store [Member] | Stevens Point, WI [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[3]			30 years
Kroger - Pick n Save Center [Member] | West Bend, WI [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	3,150		$ 3,150
Initial cost, Buildings and Improvements	[1]	14,283		14,283
Cost Capitalized Subsequent to Acquisitions	[2]	2,848		2,848
Gross amount carried at end of period, Land	[3],[4]	3,150		3,150
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	17,131		17,131
Gross amount carried at end of period, Total	[3],[4]	20,281		20,281
Accumulated Depreciation	[5]	(5,138)		$ (5,138)
Date Constructed				2011
Date Acquired				2014
Kroger - Pick n Save Center [Member] | West Bend, WI [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Kroger - Pick n Save Center [Member] | West Bend, WI [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Lakeside Crossing [Member] | Lynchburg, VA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	1,460		$ 1,460
Initial cost, Buildings and Improvements	[1]	16,999		16,999
Cost Capitalized Subsequent to Acquisitions	[2]	432		432
Gross amount carried at end of period, Land	[3],[4]	1,460		1,460
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	17,431		17,431
Gross amount carried at end of period, Total	[3],[4]	18,891		18,891
Accumulated Depreciation	[5]	(5,526)		$ (5,526)
Date Constructed				2013
Date Acquired				2014
Lakeside Crossing [Member] | Lynchburg, VA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Lakeside Crossing [Member] | Lynchburg, VA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Landing at Ocean Isle Beach [Member] | Ocean Isle, NC [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	3,053		$ 3,053
Initial cost, Buildings and Improvements	[1]	7,081		7,081
Cost Capitalized Subsequent to Acquisitions	[2]	147		147
Gross amount carried at end of period, Land	[3],[4]	3,053		3,053
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	7,228		7,228
Gross amount carried at end of period, Total	[3],[4]	10,281		10,281
Accumulated Depreciation	[5]	(2,427)		$ (2,427)
Date Constructed				2009
Date Acquired				2014
Landing at Ocean Isle Beach [Member] | Ocean Isle, NC [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Landing at Ocean Isle Beach [Member] | Ocean Isle, NC [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Lower Makefield Shopping Center [Member] | Lower Makefield, PA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	6,559		$ 6,559
Initial cost, Buildings and Improvements	[1]	18,351		18,351
Gross amount carried at end of period, Land	[3],[4]	6,559		6,559
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	18,351		18,351
Gross amount carried at end of period, Total	[3],[4]	24,910		24,910
Accumulated Depreciation	[5]	(503)		$ (503)
Date Acquired				2022
Lower Makefield Shopping Center [Member] | Lower Makefield, PA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				1986
Depreciable Lives				15 years
Lower Makefield Shopping Center [Member] | Lower Makefield, PA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2000
Depreciable Lives				30 years
Mansfield Pointe [Member] | Mansfield, TX [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	5,350		$ 5,350
Initial cost, Buildings and Improvements	[1]	20,002		20,002
Cost Capitalized Subsequent to Acquisitions	[2]	890		890
Gross amount carried at end of period, Land	[3],[4]	5,350		5,350
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	20,892		20,892
Gross amount carried at end of period, Total	[3],[4]	26,242		26,242
Accumulated Depreciation	[5]	(6,843)		$ (6,843)
Date Constructed				2008
Date Acquired				2014
Mansfield Pointe [Member] | Mansfield, TX [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Mansfield Pointe [Member] | Mansfield, TX [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Marketplace at El Paseo [Member] | Fresno, CA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	16,390		$ 16,390
Initial cost, Buildings and Improvements	[1]	46,971		46,971
Cost Capitalized Subsequent to Acquisitions	[2]	(452)		(452)
Gross amount carried at end of period, Land	[3],[4]	16,390		16,390
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	46,519		46,519
Gross amount carried at end of period, Total	[3],[4]	62,909		62,909
Accumulated Depreciation	[5]	(12,147)		$ (12,147)
Date Constructed				2014
Date Acquired				2015
Marketplace at El Paseo [Member] | Fresno, CA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Marketplace at El Paseo [Member] | Fresno, CA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Marketplace at Tech Center [Member] | Newport News, VA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	10,684		$ 10,684
Initial cost, Buildings and Improvements	[1]	68,580		68,580
Cost Capitalized Subsequent to Acquisitions	[2]	3,112		3,112
Gross amount carried at end of period, Land	[3],[4]	10,684		10,684
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	71,692		71,692
Gross amount carried at end of period, Total	[3],[4]	82,376		82,376
Accumulated Depreciation	[5]	(17,014)		$ (17,014)
Date Constructed				2015
Date Acquired				2015
Marketplace at Tech Center [Member] | Newport News, VA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Marketplace at Tech Center [Member] | Newport News, VA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
MidTowne Shopping Center [Member] | Little Rock, AR [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	8,810		$ 8,810
Initial cost, Buildings and Improvements	[1]	29,699		29,699
Cost Capitalized Subsequent to Acquisitions	[2]	754		754
Gross amount carried at end of period, Land	[3],[4]	8,810		8,810
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	30,453		30,453
Gross amount carried at end of period, Total	[3],[4]	39,263		39,263
Accumulated Depreciation	[5]	(9,934)		$ (9,934)
Date Acquired				2014
MidTowne Shopping Center [Member] | Little Rock, AR [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2005
Depreciable Lives				5 years
MidTowne Shopping Center [Member] | Little Rock, AR [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2008
Depreciable Lives				30 years
Milford Marketplace [Member] | Milford, CT [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		18,727		$ 18,727
Initial cost, Buildings and Improvements	[1]	35,867		35,867
Cost Capitalized Subsequent to Acquisitions	[2]	1,125		1,125
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	36,992		36,992
Gross amount carried at end of period, Total	[3],[4]	36,992		36,992
Accumulated Depreciation	[5]	(9,819)		$ (9,819)
Date Constructed				2007
Date Acquired				2015
Milford Marketplace [Member] | Milford, CT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Milford Marketplace [Member] | Milford, CT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
New Town [Member] | Owings Mills, MD [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	2,106		$ 2,106
Initial cost, Buildings and Improvements	[1]	3,216		3,216
Gross amount carried at end of period, Land	[3],[4]	2,106		2,106
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	3,216		3,216
Gross amount carried at end of period, Total	[3],[4]	5,322		5,322
Accumulated Depreciation	[5]	(152)		$ (152)
Date Constructed				1996
Date Acquired				2022
Newington Fair [Member] | Newington, CT [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	7,833		$ 7,833
Initial cost, Buildings and Improvements	[1]	8,329		8,329
Cost Capitalized Subsequent to Acquisitions	[2]	576		576
Gross amount carried at end of period, Land	[3],[4]	7,833		7,833
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	8,905		8,905
Gross amount carried at end of period, Total	[3],[4]	16,738		16,738
Accumulated Depreciation	[5]	(4,056)		$ (4,056)
Date Acquired				2012
Newington Fair [Member] | Newington, CT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				1994
Depreciable Lives				15 years
Newington Fair [Member] | Newington, CT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2009
Depreciable Lives				30 years
North Hills Square [Member] | Coral Springs, FL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	4,800		$ 4,800
Initial cost, Buildings and Improvements	[1]	5,493		5,493
Cost Capitalized Subsequent to Acquisitions	[2]	652		652
Gross amount carried at end of period, Land	[3],[4]	4,800		4,800
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	6,145		6,145
Gross amount carried at end of period, Total	[3],[4]	10,945		10,945
Accumulated Depreciation	[5]	(1,953)		$ (1,953)
Date Constructed				1997
Date Acquired				2014
North Hills Square [Member] | Coral Springs, FL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
North Hills Square [Member] | Coral Springs, FL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Northpark Village Square [Member] | Santa Clarita, CA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	15,806		$ 15,806
Initial cost, Buildings and Improvements	[1]	41,201		41,201
Cost Capitalized Subsequent to Acquisitions	[2]	138		138
Gross amount carried at end of period, Land	[3],[4]	15,806		15,806
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	41,339		41,339
Gross amount carried at end of period, Total	[3],[4]	57,145		57,145
Accumulated Depreciation	[5]	(1,085)		$ (1,085)
Date Constructed				1996
Date Acquired				2022
Northpark Village Square [Member] | Santa Clarita, CA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Northpark Village Square [Member] | Santa Clarita, CA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Northville Park Place [Member] | Northville, MI [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	6,440		$ 6,440
Initial cost, Buildings and Improvements	[1]	27,635		27,635
Cost Capitalized Subsequent to Acquisitions	[2]	305		305
Gross amount carried at end of period, Land	[3],[4]	6,440		6,440
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	27,940		27,940
Gross amount carried at end of period, Total	[3],[4]	34,380		34,380
Accumulated Depreciation	[5]	$ (739)		$ (739)
Date Constructed		2014
Date Acquired				2022
Northville Park Place [Member] | Northville, MI [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Northville Park Place [Member] | Northville, MI [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Olde Ivy Village [Member] | Smyrna, GA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	$ 5,034		$ 5,034
Initial cost, Buildings and Improvements	[1]	12,104		12,104
Gross amount carried at end of period, Land	[3],[4]	5,034		5,034
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	12,104		12,104
Gross amount carried at end of period, Total	[3],[4]	17,138		17,138
Accumulated Depreciation	[5]	$ (292)		$ (292)
Date Constructed		2015
Date Acquired				2022
Olde Ivy Village [Member] | Smyrna, GA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Olde Ivy Village [Member] | Smyrna, GA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Oquirrh Mountain Marketplace [Member] | Jordan, UT [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	$ 4,254		$ 4,254
Initial cost, Buildings and Improvements	[1]	14,467		14,467
Cost Capitalized Subsequent to Acquisitions	[2]	411		411
Gross amount carried at end of period, Land	[3],[4]	4,254		4,254
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	14,878		14,878
Gross amount carried at end of period, Total	[3],[4]	19,132		19,132
Accumulated Depreciation	[5]	(3,731)		$ (3,731)
Date Acquired				2015
Oquirrh Mountain Marketplace [Member] | Jordan, UT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2014
Depreciable Lives				15 years
Oquirrh Mountain Marketplace [Member] | Jordan, UT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2015
Depreciable Lives				30 years
Oquirrh Mountain Marketplace Phase I I Member | Jordan, UT [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	1,403		$ 1,403
Initial cost, Buildings and Improvements	[1]	3,727		3,727
Cost Capitalized Subsequent to Acquisitions	[2]	(50)		(50)
Gross amount carried at end of period, Land	[3],[4]	1,403		1,403
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	3,677		3,677
Gross amount carried at end of period, Total	[3],[4]	5,080		5,080
Accumulated Depreciation	[5]	(902)		$ (902)
Date Acquired				2016
Oquirrh Mountain Marketplace Phase I I Member | Jordan, UT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2014
Depreciable Lives				15 years
Oquirrh Mountain Marketplace Phase I I Member | Jordan, UT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2015
Depreciable Lives				30 years
Park Avenue Shopping Center Member | Little Rock, AR [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	5,500		$ 5,500
Initial cost, Buildings and Improvements	[1]	16,365		16,365
Cost Capitalized Subsequent to Acquisitions	[2]	3,901		3,901
Gross amount carried at end of period, Land	[3],[4]	5,500		5,500
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	20,266		20,266
Gross amount carried at end of period, Total	[3],[4]	25,766		25,766
Accumulated Depreciation	[5]	(6,202)		$ (6,202)
Date Constructed				2012
Date Acquired				2014
Park Avenue Shopping Center Member | Little Rock, AR [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Park Avenue Shopping Center Member | Little Rock, AR [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Pentucket Shopping Center [Member] | Plaistow, NH [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	5,993		$ 5,993
Initial cost, Buildings and Improvements	[1]	11,251		11,251
Cost Capitalized Subsequent to Acquisitions	[2]	1,757		1,757
Gross amount carried at end of period, Land	[3],[4]	5,993		5,993
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	13,008		13,008
Gross amount carried at end of period, Total	[3],[4]	19,001		19,001
Accumulated Depreciation	[5]	(2,733)		$ (2,733)
Date Constructed				1986
Date Acquired				2017
Pentucket Shopping Center [Member] | Plaistow, NH [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Pentucket Shopping Center [Member] | Plaistow, NH [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Plaza At Prairie Ridge [Member] | Pleasant Prairie, WI [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	618		$ 618
Initial cost, Buildings and Improvements	[1]	2,305		2,305
Gross amount carried at end of period, Land	[3],[4]	618		618
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	2,305		2,305
Gross amount carried at end of period, Total	[3],[4]	2,923		2,923
Accumulated Depreciation	[5]	(647)		$ (647)
Date Constructed				2008
Date Acquired				2015
Plaza At Prairie Ridge [Member] | Pleasant Prairie, WI [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Plaza At Prairie Ridge [Member] | Pleasant Prairie, WI [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Prattville Town Center [Member] | Prattville, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	5,336		$ 5,336
Initial cost, Buildings and Improvements	[1]	27,672		27,672
Cost Capitalized Subsequent to Acquisitions	[2]	217		217
Gross amount carried at end of period, Land	[3],[4]	5,336		5,336
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	27,889		27,889
Gross amount carried at end of period, Total	[3],[4]	33,225		33,225
Accumulated Depreciation	[5]	(7,994)		$ (7,994)
Date Constructed				2007
Date Acquired				2015
Prattville Town Center [Member] | Prattville, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Prattville Town Center [Member] | Prattville, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Regal Court [Member] | Shreveport, LA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		26,000		$ 26,000
Initial cost, Land	[1]	5,873		5,873
Initial cost, Buildings and Improvements	[1]	41,181		41,181
Cost Capitalized Subsequent to Acquisitions	[2]	2,496		2,496
Gross amount carried at end of period, Land	[3],[4]	5,873		5,873
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	43,677		43,677
Gross amount carried at end of period, Total	[3],[4]	49,550		49,550
Accumulated Depreciation	[5]	(12,362)		$ (12,362)
Date Constructed				2008
Date Acquired				2015
Regal Court [Member] | Shreveport, LA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				5 years
Regal Court [Member] | Shreveport, LA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Rusty Leaf Plaza [Member] | Orange, CA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	8,643		$ 8,643
Initial cost, Buildings and Improvements	[1]	20,638		20,638
Gross amount carried at end of period, Land	[3],[4]	8,643		8,643
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	20,638		20,638
Gross amount carried at end of period, Total	[3],[4]	29,281		29,281
Accumulated Depreciation	[5]	(515)		$ (515)
Date Constructed				1966
Date Acquired				2022
Rusty Leaf Plaza [Member] | Orange, CA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Rusty Leaf Plaza [Member] | Orange, CA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Settlers Ridge [Member] | Pittsburgh, PA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		76,533		$ 76,533
Initial cost, Land	[1]	25,962		25,962
Initial cost, Buildings and Improvements	[1]	98,157		98,157
Cost Capitalized Subsequent to Acquisitions	[2]	891		891
Gross amount carried at end of period, Land	[3],[4]	25,962		25,962
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	99,048		99,048
Gross amount carried at end of period, Total	[3],[4]	125,010		125,010
Accumulated Depreciation	[5]	(26,958)		$ (26,958)
Date Constructed				2011
Date Acquired				2015
Settlers Ridge [Member] | Pittsburgh, PA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Settlers Ridge [Member] | Pittsburgh, PA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Shoppes at Lake Park [Member] | West Valley City. UT [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	2,285		$ 2,285
Initial cost, Buildings and Improvements	[1]	8,527		8,527
Cost Capitalized Subsequent to Acquisitions	[2]	90		90
Gross amount carried at end of period, Land	[3],[4]	2,285		2,285
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	8,617		8,617
Gross amount carried at end of period, Total	[3],[4]	10,902		10,902
Accumulated Depreciation	[5]	(2,479)		$ (2,479)
Date Constructed				2008
Date Acquired				2015
Shoppes at Lake Park [Member] | West Valley City. UT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Shoppes at Lake Park [Member] | West Valley City. UT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Shoppes at Market Pointe [Member] | Papillion, NE [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	12,499		$ 12,499
Initial cost, Buildings and Improvements	[1]	8,388		8,388
Cost Capitalized Subsequent to Acquisitions	[2]	998		998
Gross amount carried at end of period, Land	[3],[4]	12,499		12,499
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	9,386		9,386
Gross amount carried at end of period, Total	[3],[4]	21,885		21,885
Accumulated Depreciation	[5]	(3,553)		$ (3,553)
Date Acquired				2015
Shoppes at Market Pointe [Member] | Papillion, NE [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2006
Depreciable Lives				15 years
Shoppes at Market Pointe [Member] | Papillion, NE [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2007
Depreciable Lives				30 years
Shoppes at Prairie Ridge [Member] | Pleasant Prairie, WI [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	7,521		$ 7,521
Initial cost, Buildings and Improvements	[1]	22,468		22,468
Cost Capitalized Subsequent to Acquisitions	[2]	971		971
Gross amount carried at end of period, Land	[3],[4]	7,521		7,521
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	23,439		23,439
Gross amount carried at end of period, Total	[3],[4]	30,960		30,960
Accumulated Depreciation	[5]	(6,843)		$ (6,843)
Date Constructed				2009
Date Acquired				2014
Shoppes at Prairie Ridge [Member] | Pleasant Prairie, WI [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Shoppes at Prairie Ridge [Member] | Pleasant Prairie, WI [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
The Shoppes at Branson Hills [Member] | Branson, MO [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	4,418		$ 4,418
Initial cost, Buildings and Improvements	[1]	37,229		37,229
Cost Capitalized Subsequent to Acquisitions	[2]	2,601		2,601
Gross amount carried at end of period, Land	[3],[4]	4,418		4,418
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	39,830		39,830
Gross amount carried at end of period, Total	[3],[4]	44,248		44,248
Accumulated Depreciation	[5]	(11,241)		$ (11,241)
Date Constructed				2005
Date Acquired				2014
The Shoppes at Branson Hills [Member] | Branson, MO [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
The Shoppes at Branson Hills [Member] | Branson, MO [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Shops at Hawk Ridge [Member] | St. Louis, MO [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	1,329		$ 1,329
Initial cost, Buildings and Improvements	[1]	10,341		10,341
Cost Capitalized Subsequent to Acquisitions	[2]	299		299
Gross amount carried at end of period, Land	[3],[4]	1,329		1,329
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	10,640		10,640
Gross amount carried at end of period, Total	[3],[4]	11,969		11,969
Accumulated Depreciation	[5]	(3,046)		$ (3,046)
Date Constructed				2009
Date Acquired				2015
Shops at Hawk Ridge [Member] | St. Louis, MO [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				5 years
Shops at Hawk Ridge [Member] | St. Louis, MO [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Village at Burlington Creek [Member] | Kansas City, MO [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		17,085		$ 17,085
Initial cost, Land	[1]	10,789		10,789
Initial cost, Buildings and Improvements	[1]	19,385		19,385
Cost Capitalized Subsequent to Acquisitions	[2]	2,592		2,592
Gross amount carried at end of period, Land	[3],[4]	10,789		10,789
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	21,977		21,977
Gross amount carried at end of period, Total	[3],[4]	32,766		32,766
Accumulated Depreciation	[5]	(5,890)		$ (5,890)
Date Acquired				2015
Village at Burlington Creek [Member] | Kansas City, MO [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2007
Depreciable Lives				5 years
Village at Burlington Creek [Member] | Kansas City, MO [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2015
Depreciable Lives				30 years
Walgreens Plaza [Member] | Jacksonville, NC [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	2,624		$ 2,624
Initial cost, Buildings and Improvements	[1]	9,683		9,683
Cost Capitalized Subsequent to Acquisitions	[2]	410		410
Gross amount carried at end of period, Land	[3],[4]	2,624		2,624
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	10,093		10,093
Gross amount carried at end of period, Total	[3],[4]	12,717		12,717
Accumulated Depreciation	[5]	(3,066)		$ (3,066)
Date Constructed				2011
Date Acquired				2015
Walgreens Plaza [Member] | Jacksonville, NC [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Walgreens Plaza [Member] | Jacksonville, NC [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Wedgewood Commons [Member] | Olive Branch, MS [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	2,220		$ 2,220
Initial cost, Buildings and Improvements	[1]	26,577		26,577
Cost Capitalized Subsequent to Acquisitions	[2]	2,491		2,491
Gross amount carried at end of period, Land	[3],[4]	2,220		2,220
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	29,068		29,068
Gross amount carried at end of period, Total	[3],[4]	31,288		31,288
Accumulated Depreciation	[5]	(8,755)		$ (8,755)
Date Acquired				2013
Wedgewood Commons [Member] | Olive Branch, MS [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2009
Depreciable Lives				5 years
Wedgewood Commons [Member] | Olive Branch, MS [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2013
Depreciable Lives				30 years
White City [Member] | Shrewsbury, MA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	18,961		$ 18,961
Initial cost, Buildings and Improvements	[1]	70,423		70,423
Cost Capitalized Subsequent to Acquisitions	[2]	3,636		3,636
Gross amount carried at end of period, Land	[3],[4]	18,961		18,961
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	74,059		74,059
Gross amount carried at end of period, Total	[3],[4]	93,020		93,020
Accumulated Depreciation	[5]	(20,364)		$ (20,364)
Date Constructed				2013
Date Acquired				2015
White City [Member] | Shrewsbury, MA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
White City [Member] | Shrewsbury, MA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Wilson Marketplace [Member] | Wilson, NC [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	11,155		$ 11,155
Initial cost, Buildings and Improvements	[1]	27,498		27,498
Cost Capitalized Subsequent to Acquisitions	[2]	1,758		1,758
Gross amount carried at end of period, Land	[3],[4]	11,155		11,155
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	29,256		29,256
Gross amount carried at end of period, Total	[3],[4]	40,411		40,411
Accumulated Depreciation	[5]	(6,279)		$ (6,279)
Date Constructed				2007
Date Acquired				2017
Wilson Marketplace [Member] | Wilson, NC [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				15 years
Wilson Marketplace [Member] | Wilson, NC [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives				30 years
Yorkville Marketplace [Member] | Yorkville, IL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	4,990		$ 4,990
Initial cost, Buildings and Improvements	[1]	13,928		13,928
Cost Capitalized Subsequent to Acquisitions	[2]	931		931
Gross amount carried at end of period, Land	[3],[4]	4,990		4,990
Gross amount carried at end of period, Buildings and Improvements	[3],[4]	14,859		14,859
Gross amount carried at end of period, Total	[3],[4]	19,849		19,849
Accumulated Depreciation	[5]	$ (4,553)		$ (4,553)
Date Acquired				2015
Yorkville Marketplace [Member] | Yorkville, IL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2002
Depreciable Lives				15 years
Yorkville Marketplace [Member] | Yorkville, IL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed				2007
Depreciable Lives				30 years
[1] The initial cost to the Company represents the original purchase price of the property. As applicable, some amounts include write-offs Reconciliation of real estate owned: The aggregate cost of real estate owned at December 31, 2022 for federal income tax purposes was $ 1,683,379 . Reconciliation of accumulated depreciation:

Schedule - Schedule III Real _3

Schedule - Schedule III Real Estate and Accumulated Depreciation (Narrative) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of real estate owned for federal income tax purpose	$ 1,683,379

Schedule - Schedule III Real _4

Schedule - Schedule III Real Estate and Accumulated Depreciation - Reconciliation of Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020
Reconciliation Of Carrying Amount Of Real Estate Investments Roll Forward
Balance at January 1,	$ 1,261,075		$ 1,255,127	$ 1,251,869
Acquisitions	255,080
Improvements, net of master lease	12,610		5,948	3,258
Balance at December 31,	$ 1,528,765	[1],[2]	$ 1,261,075	$ 1,255,127
[1] Reconciliation of real estate owned: The aggregate cost of real estate owned at December 31, 2022 for federal income tax purposes was $ 1,683,379 .

Schedule - Schedule III Real _5

Schedule - Schedule III Real Estate and Accumulated Depreciation - Reconciliation of Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020
Reconciliation Of Real Estate Accumulated Depreciation Roll Forward
Balance at January 1,	$ 245,532		$ 207,764	$ 170,269
Depreciation expense	43,331		37,768	37,495
Balance at December 31,	$ 288,863	[1]	$ 245,532	$ 207,764
[1] Reconciliation of accumulated depreciation: