Inland Real Estate Income Trust (INRE) 10-K 15 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 04, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	Inland Real Estate Income Trust, Inc.
Entity Central Index Key	1,528,985
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 710,989,778
Entity Common Stock, Shares Outstanding		86,808,619
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investment properties:
Land	$ 247,082	$ 83,250
Building and other improvements	914,355	331,213
Total	1,161,437	414,463
Less accumulated depreciation	(27,545)	(6,236)
Net investment properties	1,133,892	408,227
Cash and cash equivalents	83,843	105,871
Investment in unconsolidated entity		118
Accounts and rent receivable	7,313	1,977
Acquired lease intangible assets, net	164,773	51,691
Deferred costs, net	4,705	1,694
Other assets	11,309	1,908
Total assets	1,405,835	571,486
Liabilities:
Mortgages and credit facility payable	588,966	186,034
Accounts payable and accrued expenses	13,926	2,734
Distributions payable	4,397	2,025
Acquired intangible liabilities, net	65,194	18,676
Deferred investment property acquisition obligations	18,871	3,646
Due to related parties	8,595	2,694
Other liabilities	15,042	4,218
Total liabilities	$ 714,991	$ 220,027
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, 86,229,018 and 41,996,913 shares issued and outstanding as of December 31, 2015 and 2014, respectively	$ 86	$ 42
Additional paid in capital (net of offering costs of $87,059 and $43,566 as of December 31, 2015 and 2014, respectively)	774,359	374,608
Accumulated distributions and net loss	(80,007)	(21,663)
Accumulated other comprehensive loss	(3,594)	(1,528)
Total stockholders’ equity	690,844	351,459
Total liabilities and stockholders’ equity	$ 1,405,835	$ 571,486

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
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	86,229,018	41,996,913
Common stock, shares outstanding	86,229,018	41,996,913
Additional paid in capital, offering costs	$ 87,059	$ 43,566

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income:
Rental income	$ 60,912	$ 14,932	$ 2,482
Tenant recovery income	15,482	3,959	343
Other property income	148	55
Total income	76,542	18,946	2,825
Expenses:
Property operating expenses	11,850	2,699	178
Real estate tax expense	8,938	2,068	277
General and administrative expenses	4,961	2,427	1,601
Acquisition related costs	13,903	5,139	666
Business management fee	5,501	773	226
Depreciation and amortization	34,573	7,679	1,004
Total expenses	79,726	20,785	3,952
Operating loss	(3,184)	(1,839)	(1,127)
Interest expense	(10,339)	(2,622)	(1,408)
Interest income	205	95	1
Equity in (loss) earnings of unconsolidated entity	(118)	10	7
Net loss	$ (13,436)	$ (4,356)	$ (2,527)
Net loss per common share, basic and diluted	$ (0.19)	$ (0.21)	$ (1.18)
Weighted average number of common shares outstanding, basic and diluted	69,343,253	20,565,940	2,147,947
Comprehensive loss:
Net loss	$ (13,436)	$ (4,356)	$ (2,527)
Unrealized loss on derivatives	(4,612)	(1,810)
Reclassification adjustment for amounts recognized in net loss	2,546	282
Comprehensive loss	$ (15,502)	$ (5,884)	$ (2,527)

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 Loss [Member]
Balance at Dec. 31, 2012	$ (980)		$ 193	$ (1,173)
Balance at Dec. 31, 2012		276,239
Distributions declared	(1,289)			(1,289)
Proceeds from offering	63,363	$ 7	63,356
Proceeds from offering, shares		6,418,741
Offering costs	(6,664)		(6,664)
Proceeds from distribution reinvestment plan	481		481
Proceeds from distribution reinvestment plan, shares		50,635
Shares repurchased	0
Discount on shares to related parties	369		369
Net loss	(2,527)			(2,527)
Balance at Dec. 31, 2013	52,753	$ 7	57,735	(4,989)
Balance at Dec. 31, 2013		6,745,615
Distributions declared	(12,318)			(12,318)
Proceeds from offering	345,554	$ 35	345,519
Proceeds from offering, shares		34,711,753
Offering costs	(34,571)		(34,571)
Proceeds from distribution reinvestment plan	5,395		5,395
Proceeds from distribution reinvestment plan, shares		567,896
Shares repurchased	(260)		(260)
Shares repurchased, shares		(28,351)
Discount on shares to related parties	150		150
Unrealized loss on derivatives	(1,810)				$ (1,810)
Reclassification adjustment for amounts included in net loss	282				282
Sponsor contribution	640		640
Net loss	(4,356)			(4,356)
Balance at Dec. 31, 2014	$ 351,459	$ 42	374,608	(21,663)	(1,528)
Balance at Dec. 31, 2014	41,996,913	41,996,913
Distributions declared	$ (44,908)			(44,908)
Proceeds from offering	422,959	$ 42	422,917
Proceeds from offering, shares		42,428,322
Offering costs	(43,493)		(43,493)
Proceeds from distribution reinvestment plan	20,828	$ 2	20,826
Proceeds from distribution reinvestment plan, shares		2,192,444
Shares repurchased	(3,810)		(3,810)
Shares repurchased, shares		(388,661)
Discount on shares to related parties	28		28
Unrealized loss on derivatives	(4,612)				(4,612)
Reclassification adjustment for amounts included in net loss	2,546				2,546
Sponsor contribution	3,283		3,283
Net loss	(13,436)			(13,436)
Balance at Dec. 31, 2015	$ 690,844	$ 86	$ 774,359	$ (80,007)	$ (3,594)
Balance at Dec. 31, 2015	86,229,018	86,229,018

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	$ (13,436)	$ (4,356)	$ (2,527)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	34,573	7,679	1,004
Amortization of loan fees and mortgage premiums, net	5	210	212
Amortization of acquired market leases, net	(652)	(59)	(24)
Straight-line income, net	(1,736)	(314)	(15)
Discount on shares issued to related parties	28	150	370
Equity in (losses) earnings of unconsolidated entity	118	(10)	(7)
Payment of leasing fees	(315)	(5)
Other non-cash adjustments	(385)	5
Changes in assets and liabilities:
Accounts payable and accrued expenses	3,723	869	(11)
Accounts and rents receivable	(3,392)	(1,521)	(81)
Due to related parties	7,559	(493)	748
Other liabilities	2,185	1,072	(51)
Other assets	(1,195)	(305)	(579)
Net cash flows provided by (used in) operating activities	27,080	2,922	(961)
Cash flows from investing activities:
Purchase of investment properties	(734,331)	(310,120)	(29,982)
Capital expenditures	(4,326)	(131)	(316)
Investment in unconsolidated entity			(100)
Other assets and restricted escrows	(1,885)	(234)	23
Net cash flows used in investing activities	(740,542)	(310,485)	(30,375)
Cash flows from financing activities:
Proceeds from offering	422,959	345,554	63,363
Proceeds from the distribution reinvestment plan	20,828	5,395	481
Shares repurchased	(3,333)	(260)
Payment of offering costs	(43,828)	(34,337)	(6,826)
Distributions paid	(42,537)	(10,597)	(998)
Sponsor contribution	3,283	640
Due to related parties, net	(1,630)		1
Deferred investment property acquisition obligation payments	(3,061)	(2,728)
Proceeds from credit facility payable	100,000
Proceeds from mortgages payable	242,377	94,531	15,260
Payment of mortgages payable	(145)	(9,790)	(15,407)
Payment of loan fees	(3,479)	(1,608)	(141)
Net cash flows provided by financing activities	691,434	386,800	55,733
Net (decrease) increase in cash and cash equivalents	(22,028)	79,237	24,397
Cash and cash equivalents at beginning of the period	105,871	26,634	2,237
Cash and cash equivalents at end of the period	83,843	105,871	26,634
Supplemental disclosure of cash flow information:
Land	163,832	70,828	2,220
Building and improvements	580,061	285,326	26,577
Acquired in place lease intangibles	98,062	43,067	2,438
Acquired above market lease intangibles	30,524	5,264	311
Acquired below market lease intangibles	(44,359)	(18,386)	(391)
Acquired above market ground lease liability	(5,169)
Other receivables	792
Assumption of mortgage debt at acquisition	(58,026)	(67,466)
Non-cash mortgage premium	(3,430)	(1,297)
Non-cash fair value of interest rate swaps		(528)
Deferred investment property acquisition obligations	(18,211)	(5,511)	(723)
Assumed liabilities	(9,745)	(1,177)	(450)
Purchase of investment properties	734,331	310,120	29,982
Supplemental schedule of non-cash investing and financing activities:
Cash paid for interest	9,397	2,346	1,235,597
Distributions payable	4,397	2,025	304,863
Accrued offering costs payable	$ 252	$ 535	$ 300,807

Organization

Organization	12 Months Ended
	Dec. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	NOTE 1 – ORGANIZATION 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. To date, the Company has focused on acquiring retail properties. The Company entered into a Business Management Agreement with IREIT Business Manager & Advisor, Inc. (the “Business Manager”), an affiliate of Inland Real Estate Investment Corporation (the “Sponsor”), to be the Business Manager to the Company. At December 31, 2015, the Company owned 54 retail properties, totaling 6,025,330 square feet. The properties are located in 22 states. At December 31, 2015, the portfolio had a weighted average physical occupancy of 96.2% and economic occupancy of 97.2%. Economic occupancy excludes square footage associated with an earnout component.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General The accompanying consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. 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. Certain amounts in the prior period consolidated financial statements have been reclassified to conform with the current year presentation. Information with respect to square footage and occupancy is unaudited. Consolidation The accompanying 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, the Company determines the total purchase price of each property (see Note 4 – “Acquisitions”), which includes the estimated contingent consideration to be paid or received in future periods, if any. The Company allocates the total purchase price of properties based on the 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. Assets and liabilities acquired typically include land, building and personal property 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 are 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 are 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. 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 earnout payments are based on a predetermined formula applied to rental income to be received. The earnout agreements have a limited obligation period from the date of acquisition, as defined. If at the end of the time period certain space has not been leased, occupied and rent producing, the Company will have no further obligation to pay additional purchase price consideration and will retain ownership of that entire property. Based on its best estimate, the Company has recorded a liability for the potential future earnout payments using estimated fair value at the date of acquisition using Level 3 inputs including market rents ranging from $14.00 to $42.00 per square foot, probability of occupancy ranging from 0% to 100% based on leasing activity and utilizing a discount rate of 6.50% to 8.25%. The Company has recorded this earnout amount as additional purchase price of the related property and as a liability included in deferred investment property acquisition obligations on the accompanying consolidated balance sheets. Fair value adjustments may be deemed necessary but generally, the liability increases as the anticipated payment date draws near based on a present value; such increases in the liability are recorded as amortization expense on the accompanying consolidated statements of operations and comprehensive loss. The Company records the effect of changes in the underlying liability assumptions in acquisition related costs on the accompanying consolidated statements of operations and comprehensive loss. Capitalization and Depreciation Real estate acquisitions are recorded at cost less accumulated depreciation. Improvement and betterment costs are capitalized, and ordinary repairs and maintenance are expensed as incurred. Transaction costs in connection with the acquisition of real estate properties and businesses are expensed as incurred and included in acquisition related costs. 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 approximately $21,319, $5,428 and $776 for the years ended December 31, 2015, 2014 and 2013, respectively. 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. For assets and liabilities measured at fair value on a recurring basis, quantitative disclosure of the fair value for each major category of assets and liabilities is presented below: Fair Value Measurements at December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Derivative interest rate swap agreements $ — $ (3,791 ) $ — Total liabilities $ — $ (3,791 ) $ — 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. Partially-Owned Entities The Company will consolidate the operations of a joint venture if the Company determines that it is either the primary beneficiary of a variable interest entity (VIE) or has substantial influence and control of the entity. In instances where the Company determines that it is not the primary beneficiary of a VIE or the Company does not control the joint venture but can exercise influence over the entity with respect to its operations and major decisions, the Company will use the equity method of accounting. Under the equity method, the operations of a joint venture will not be consolidated with the Company’s operations but instead its share of operations will be reflected as equity in earnings (loss) of unconsolidated entity on its consolidated statements of operations and comprehensive loss. Additionally, the Company’s net investment in the joint venture will be reflected as investment in unconsolidated entity on the consolidated balance sheets. Offering and Organization Costs Costs associated with the Offering (as defined below) are deferred and charged against the gross proceeds of the Offering upon the sale of shares. Formation and organizational costs were expensed as incurred. 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 Company maintains its cash and cash equivalents at financial institutions. 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. REIT Status The Company has qualified and 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. 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 relief provisions, the Company will be subject to federal (including any applicable alternative minimum tax) and state income tax on its taxable income at regular corporate tax rates. 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 on its undistributed income. 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 proceeds, including net rental income during the holding period, from disposition that are estimated based on future net rental income of the property and expected market capitalization rates. The use of projected future cash flows is based on assumptions that are consistent with our 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 the real estate properties. During the years ended December 31, 2015, 2014 and 2013 no Deferred Loan Fees Direct financing costs are deferred and 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 included in deferred costs, net. Revenue Recognition The Company commences revenue recognition on its leases based on a number of factors. In most cases, revenue recognition under a lease begins when the lessee takes possession of, or controls the physical use of, the leased asset. Generally, this occurs on the lease commencement date. The determination of who is the owner, for accounting purposes, of the tenant improvements determines the nature of the leased asset and when revenue recognition under a lease begins. If the Company is the owner, for accounting purposes, of the tenant improvements, then the leased asset is the finished space and revenue recognition begins when the lessee takes possession of the finished space, typically when the improvements are substantially complete. 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. In these circumstances, the Company begins revenue recognition when the lessee takes possession of the unimproved space for the lessee to construct their own improvements. 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. The determination of who owns the tenant improvements, for accounting purposes, is subject to significant judgment. 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 rents receivable in the accompanying 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. The Company periodically reviews the collectability of outstanding receivables. Allowances are taken for those balances that the Company deems to be uncollectible, including any amounts relating to straight-line income receivables. 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 records lease termination income if there is a signed termination agreement, all of the conditions of the agreement have been met, the tenant is no longer occupying the property and amounts due are considered collectible. Upon early lease termination, the Company provides for gains or losses related to unrecovered intangibles and other assets. 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. Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842). In September 2015, the FASB issued ASU No. 2015-16, Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. As of December 31, 2015, the amount of total debt issuance costs was approximately $4,400 and was classified as deferred costs, net in the Company’s consolidated balance sheet. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers

Equity

Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
EQUITY	NOTE 3 – EQUITY The Company was authorized to sell up to 150,000,000 shares of common stock at $10 each in an initial public “best efforts” offering (the “Offering”) which commenced on October 18, 2012 and to issue 30,000,000 shares at $9.50 each issuable pursuant to the Company’s distribution reinvestment plan (“DRP”). The Offering concluded on October 16, 2015. Effective November 2, 2015, the Company amended its DRP. The Company is offering up to 25,000,000 shares of its common stock at a price of $9.50 per share to stockholders who elect to participate in the amended DRP. As of December 31, 2015 the Company issued 83,835,055 shares of common stock generating gross proceeds of $834,399, excluding the DRP. The Company provides the following programs to facilitate future investment in the Company’s shares and to provide limited liquidity for stockholders. Distribution Reinvestment Plan The Company provides existing 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. Shares are sold at a price equal to $9.50 per share until such time as the Company reports an estimated value of its shares (the “Valuation Date”). On and after the Valuation Date, the price per share under the DRP will be 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. Distributions reinvested through the DRP were approximately $20,828, $5,395 and $481 for the years ended December 31, 2015, 2014 and 2013, respectively. Share Repurchase Program Under the share repurchase program (“SRP”), 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, if requested, if the Company chooses to purchase them. Subject to funds being available, the Company limits the number of shares repurchased during any calendar year to 5% of the number of shares outstanding on December 31 st Pursuant to the SRP, the Company may repurchase shares at prices ranging from 92.5% of the “share price,” as defined in the SRP, for stockholders who have owned shares for at least one year to 100% of the “share price” for stockholders who have owned shares for at least four years. For repurchases sought upon a stockholder’s death or qualifying disability, the Company may repurchase shares at a price equal to 100% of the “share price.” As used in the SRP, “share price” means: (1) prior to the Valuation Date, the offering price of the Company’s shares in the Offering (unless the shares were purchased at a discount from that price, and then that purchase price), reduced by any distributions of net sale proceeds that the Company designates as constituting a return of capital; and (2) on and after the Valuation Date, the lesser of: (A) the share price determined in (1); or (B) the most recently disclosed estimated value per share. Repurchases through the SRP were approximately $3,810, $260 and $0 for the years ended December 31, 2015, 2014 and 2013, respectively.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Acquisitions	NOTE 4 – ACQUISITIONS 2015 Acquisitions During the year ended December 31, 2015 and Date Acquired Property Name Location Property Type Square Footage Purchase Price 1st Quarter 1/29/15 Shoppes at Lake Park West Valley City, UT Multi-Tenant Retail 52,997 $ 11,559 2/19/15 Plaza at Prairie Ridge Pleasant Prairie, WI Multi-Tenant Retail 9,035 3,400 3/13/15 Green Tree Center Katy, TX Multi-Tenant Retail 147,621 26,244 3/16/15 Eastside Junction Athens, AL Multi-Tenant Retail 79,700 12,278 3/16/15 Fairgrounds Crossing Hot Springs, AR Multi-Tenant Retail 155,127 29,197 3/16/15 Prattville Town Center Prattville, AL Multi-Tenant Retail 168,842 33,329 3/16/15 Regal Court Shreveport, LA Multi-Tenant Retail 362,961 50,364 3/16/15 Shops at Hawk Ridge St. Louis, MO Multi-Tenant Retail 75,951 12,721 3/16/15 Walgreens Plaza Jacksonville, NC Multi-Tenant Retail 42,219 13,663 3/16/15 Whispering Ridge Omaha, NE Multi-Tenant Retail 69,676 15,803 3/31/15 Frisco Marketplace (a) Frisco, TX Multi-Tenant Retail 112,024 11,040 2nd Quarter 4/08/15 White City Shrewsbury, MA Multi-Tenant Retail 257,080 96,750 4/21/15 Treasure Valley (b) Nampa, ID Multi-Tenant Retail 133,292 17,931 4/28/15 Yorkville Marketplace Yorkville, IL Multi-Tenant Retail 111,591 24,500 5/27/15 Shoppes at Market Pointe Papillion, NE Multi-Tenant Retail 253,903 27,200 3rd Quarter 9/17/15 2727 Iowa Street Lawrence, KS Multi-Tenant Retail 84,981 18,622 4th Quarter 10/1/15 Settlers Ridge Pittsburgh, PA Multi-Tenant Retail 472,572 139,054 10/1/15 Milford Marketplace Milford, CT Multi-Tenant Retail 112,257 33,971 10/16/15 Marketplace at El Paseo Fresno, CA Multi-Tenant Retail 224,683 70,000 10/19/15 Blossom Valley Plaza Turlock, CA Multi-Tenant Retail 111,558 21,704 10/22/15 The Village at Burlington Creek Kansas City, MO Multi-Tenant Retail 158,118 35,366 10/29/15 Oquirrh Mountain Marketplace South Jordan, UT Multi-Tenant Retail 71,750 22,092 12/24/15 Marketplace at Tech Center Newport News, VA Multi-Tenant Retail 210,584 72,525 3,478,522 $ 799,313 (a) Includes 4,481 square feet which was acquired on 4/1/15 for $2,080. (b) Includes 21,000 square feet which was acquired on 12/9/15 for $2,731. 2014 Acquisitions During the year ended December 31, 2014 and Date Acquired Property Name Location Property Type Square Footage Purchase Price 1st Quarter 2/21/14 Park Avenue Shopping Center (a) Little Rock, AR Multi-Tenant Retail 69,381 $ 23,368 2/27/14 North Hills Square Coral Springs, FL Multi-Tenant Retail 63,829 11,050 2nd Quarter 4/8/14 Mansfield Pointe Mansfield, TX Multi-Tenant Retail 148,529 28,100 5/13/14 MidTowne Shopping Center Little Rock, AR Multi-Tenant Retail 126,288 41,450 5/23/14 Lakeside Crossing Lynchburg, VA Multi-Tenant Retail 62,706 16,967 6/27/14 Dogwood Festival Flowood, MS Multi-Tenant Retail 187,610 48,689 3rd Quarter 7/11/14 Pick N Save Center West Bend, WI Multi-Tenant Retail 86,800 19,123 8/4/14 Harris Plaza Layton, UT Multi-Tenant Retail 123,890 27,019 4th Quarter 11/5/14 Dixie Valley Louisville, KY Multi-Tenant Retail 119,981 12,220 11/21/14 Landing at Ocean Isle Ocean Isle, NC Multi-Tenant Retail 53,220 10,895 12/16/14 Shoppes at Prairie Ridge Pleasant Prairie, WI Multi-Tenant Retail 232,606 32,527 12/16/14 Harvest Square Harvest, AL Multi-Tenant Retail 70,590 13,018 12/16/14 Heritage Square Conyers, GA Multi-Tenant Retail 22,385 9,011 12/16/14 & 12/19/14 The Shoppes at Branson Hills Branson, MO Multi-Tenant Retail 256,017 42,803 12/16/14 & 12/22/14 Branson Hills Plaza Branson, MO Multi-Tenant Retail 210,201 9,667 12/16/14 Copps Grocery Store Stevens Point, WI Multi-Tenant Retail 69,911 15,544 12/16/14 Fox Point Plaza Neenah, WI Multi-Tenant Retail 171,121 17,312 2,075,065 $ 378,763 (a) Excludes 7,986 square feet which was acquired on 12/29/15 for $2,788. The Company incurred $13,903, $ and $666 December 31, 2015, 2014 and 2013 For properties acquired during the year ended December 31, 2015, the Company recorded total income of $33,687 and property net income of $5,640, which excludes expensed acquisition related costs. For properties acquired during the year ended December 31, 2014, the Company recorded total income of $13,054 and property net income of $2,552, which excludes expensed acquisition related costs. The following table presents certain additional information regarding the Company’s acquisitions during the year ended December 31, 2015 and 2014. The amounts recognized for major assets acquired and liabilities assumed as of the acquisition date are as follows: For the Year Ended December 31, 2015 2014 Land $ 163,832 $ 70,828 Building and improvements 580,061 285,326 Acquired lease intangible assets, net 128,586 48,331 Acquired intangible liabilities, net (49,528 ) (18,386 ) Fair value adjustment related to the assumption of mortgages payable (3,430 ) (1,825 ) Deferred investment property acquisition obligations (18,211 ) (5,511 ) Total (a) $ 801,310 $ 378,763 (a) Total for the year ended December 31, 2015 includes $2,788 for 7,986 square feet acquired at Park Avenue Shopping Center and excludes other assets of $791. Pro Forma Disclosures (Unaudited) The following condensed pro forma consolidated financial statements for the years ended December 31, 2015 and 2014 include pro forma adjustments related to the acquisitions and financings during 2015 and 2014. The 2015 acquisitions are presented assuming the acquisitions occurred as of January 1, 2014. The 2014 acquisitions are presented assuming the acquisitions occurred as of January 1, 2013. Acquisition expenses for the years ended December 31, 2015 and 2014 of $13,178 and $4,871, respectively, related to each acquisition are not expected to have a continuing impact and, therefore, have been excluded from these pro forma results. For the Year Ended December 31, (unaudited) 2015 2014 Pro forma total income $ 106,658 $ 98,174 Pro forma net income $ (2,674 ) $ 5,451 Earnings per share (a) $ (0.03 ) $ 0.06 (a) Based on number of common shares outstanding as of December 31, 2015.

Acquired Intangible Assets and

Acquired Intangible Assets and Liabilities	12 Months Ended
	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Acquired Intangible Assets and Liabilities	NOTE 5 – ACQUIRED INTANGIBLE ASSETS AND LIABILITIES The following table summarizes the Company’s identified intangible assets and liabilities as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Intangible assets: Acquired in place lease value $ 146,910 $ 48,848 Acquired above market lease value 36,099 5,575 Accumulated amortization (18,236 ) (2,732 ) Acquired lease intangibles, net $ 164,773 $ 51,691 Intangible liabilities: Acquired below market lease value $ 63,529 $ 19,170 Above market ground lease 5,169 — Accumulated amortization (3,504 ) (494 ) Acquired below market lease intangibles, net $ 65,194 $ 18,676 As of December 31, 2015, the weighted average amortization periods for acquired in place lease, above market lease intangibles, below market lease intangibles and above market ground lease are 10, 13, 18 and 55 years, respectively. The portion of the purchase price allocated to acquired above market lease value and acquired below market lease value are 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 acquired above market ground lease is amortized on a straight-line basis as an adjustment to property operating expense over the term of the lease and includes renewal periods. 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: 2015 2014 2013 Acquired in place lease value $ 13,170 $ 2,083 $ 228 Amortization recorded as a reduction to property operating expense: Above market ground lease $ 24 $ — $ — Amortization recorded as a (reduction) increase to rental income: Acquired above market leases $ (2,334 ) $ (411 ) $ — Acquired below market leases 2,986 470 24 Net rental income increase $ 652 $ 59 $ 24 Estimated amortization of the respective intangible lease assets and liabilities as of December 31, 2015 for each of the five succeeding years and thereafter is as follows: Acquired In-Place Leases Above Market Leases Below Market Leases Above Market Ground Lease 2016 $ 20,121 $ 3,946 $ (4,540 ) $ (94 ) 2017 19,181 3,742 (4,387 ) (94 ) 2018 17,241 3,187 (4,205 ) (94 ) 2019 15,430 2,751 (4,022 ) (94 ) 2020 12,720 2,470 (3,789 ) (94 ) Thereafter 46,727 17,257 (39,105 ) (4,676 ) Total $ 131,420 $ 33,353 $ (60,048 ) $ (5,146 )

Debt and Derivative Instruments

Debt and Derivative Instruments	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt and Derivative Instruments	NOTE 6 – DEBT AND DERIVATIVE INSTRUMENTS As of December 31, 2015 and December 31, 2014, the Company had the following mortgages and credit facility payable: December 31, 2015 December 31, 2014 Type of Debt Principal Amount Weighted Average Interest Rate Principal Amount Weighted Average Interest Rate Fixed rate mortgages payable $ 162,692 4.37 % $ 28,279 5.06 % Variable rate mortgages payable with swap agreements 238,617 3.64 % 128,876 2.79 % Variable rate mortgages payable 83,686 2.99 % 27,582 2.01 % Mortgages payable $ 484,995 3.77 % $ 184,737 3.02 % Credit facility payable $ 100,000 1.65 % $ — — Unamortized debt premiums 3,971 1,297 Total debt $ 588,966 $ 186,034 The Company’s indebtedness bore interest at a weighted average interest rate of 3.41% per annum at December 31, 2015, 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 was $588,966 and $186,034 as of December 31, 2015 and December 31, 2014, respectively, and its estimated fair value was $587,437 and $185,260 as of December 31, 2015 and December 31, 2014, respectively. As of December 31, 2015, scheduled principal payments and maturities on the Company’s debt were as follows: December 31, 2015 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Maturities of Mortgage Loans Maturity of Credit Facility Total 2016 $ 108 $ 58,359 $ — $ 58,467 2017 239 6,264 — 6,503 2018 205 15,260 — 15,465 2019 215 142,625 — 142,840 2020 898 — 100,000 100,898 Thereafter 3,108 257,714 — 260,822 Total $ 4,773 $ 480,222 $ 100,000 $ 584,995 Credit Facility Payable On September 30, 2015, the Company entered into a credit agreement (“Credit Facility”) with KeyBanc Capital Markets Inc. for a $100,000 revolving Credit Facility. The Company has an accordion feature to increase available borrowings up to $400,000, one 0.15% Subsequent to December 31, 2015, the Company amended its Credit Facility to, among other matters, increase the aggregate commitment under the Credit Facility by $10,000 to $110,000. In February 2016, the Company paid $85,000 towards the principal on the Credit Facility reducing the outstanding balance to $15,000. As of December 31, 2015, the terms of the Credit Facility stipulate: · monthly interest-only payments at a rate of one month LIBOR plus a margin ranging from 1.40% 2.25% · quarterly unused fees based on an annual rate of 0.15% 0.25% · the requirement for a pool of unencumbered assets to support the Credit Facility, subject to certain covenants and minimum requirements related to the value and number of properties included in the collateral pool. The Credit Facility requires compliance with certain covenants including a minimum tangible net worth requirement, 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. The Company is in compliance with all financial covenants related to the Credit Facility. Mortgages Payable The mortgage loans require compliance with certain covenants, such as debt service ratios, investment restrictions and distribution limitations. As of December 31, 2015, the Company was current on all of the 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 or were guaranteed by the Sponsor. No fees were paid in connection with any guarantees issued by the Sponsor. As of December 31, 2015, the weighted average years to maturity for the Company’s mortgages payable was approximately 5 years. Interest Rate Swap Agreements The following table summarizes the Company’s interest rate swap contracts outstanding as of December 31, 2015. Date Entered Effective Date Maturity Date Pay Fixed Rate (a) Notional Amount Fair Value December 2015 March 28, 2014 March 1, 2015 March 28, 2019 2.22 % $ 5,525 $ (167 ) May 8, 2014 May 5, 2015 May 7, 2019 2.10 % 14,200 (379 ) May 23, 2014 May 1, 2015 May 22, 2019 2.00 % 8,484 (199 ) June 6, 2014 June 1, 2015 May 8, 2019 2.15 % 11,684 (332 ) June 26, 2014 July 5, 2015 July 5, 2019 2.11 % 20,725 (568 ) June 27, 2014 July 1, 2014 July 1, 2019 1.85 % 24,352 (446 ) July 31, 2014 July 31, 2014 July 31, 2019 1.94 % 9,561 (206 ) December 16, 2014 December 16, 2014 June 22, 2016 1.97 % 13,359 (92 ) December 16, 2014 December 16, 2014 October 21, 2016 1.50 % 10,837 (77 ) December 16, 2014 December 16, 2014 May 9, 2017 1.13 % 10,150 (46 ) February 11, 2015 March 2, 2015 March 1, 2022 2.02 % 6,114 (127 ) April 7, 2015 April 7, 2015 April 7, 2022 1.74 % 49,400 (209 ) July 8, 2015 August 1, 2015 May 22, 2019 1.43 % 1,426 (7 ) September 17, 2015 September 17, 2015 September 17, 2022 1.90 % 13,700 (143 ) October 2, 2015 November 1, 2015 November 1, 2015 1.79 % 13,100 (41 ) December 23, 2015 December 23, 2015 January 2, 2026 2.30 % 26,000 (752 ) $ 238,617 $ (3,791 ) (a) Receive floating rate index based upon one month LIBOR. At December 31, 2015, the one month LIBOR equaled 0.43%. 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, 2015 and 2014, respectively. December 31, 2015 December 31, 2014 Balance Location Fair Value Balance Location Fair Value Derivatives designated as cash flow hedges: Interest rate swap agreements Other $ 3,791 Other $ 2,089 For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the unrealized gain or loss on the derivative is reported as a component of comprehensive loss (“OCL”). The ineffective portion of the change in fair value, if any, is recognized directly in earnings. 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, 2015, 2014, and 2013. Year Ended December 31, Derivatives in Cash Flow Hedging Relationships 2015 2014 2013 Amount of loss recognized in OCL on derivative (effective portion) $ (4,612 ) $ (1,810 ) $ — Amount of loss reclassified from accumulated OCL into income (effective portion) $ 2,546 $ 282 $ — Amount of loss recognized in income on derivative (ineffective portion) $ 365 $ — $ — Year Ended December 31, Derivatives Not Designated as Hedging Instruments 2015 2014 2013 Amount of loss recognized in income on derivative (ineffective portion) $ (1 ) $ (33 ) $ — The amount that is expected to be reclassified from Accumulated OCL into income in the next twelve months is approximately $2,650.

Distributions

Distributions	12 Months Ended
	Dec. 31, 2015
Distributions [Abstract]
Distributions	NOTE 7 – DISTRIBUTIONS The Company paid distributions based on daily record dates, payable in arrears the following month, equal to a daily amount of $0.001643836 per share based upon a 365-day period for 2015, 2014 and 2013, respectively. The table below presents the distributions paid and declared for the years ended December 31, 2015, 2014 and 2013. December 31, 2015 2014 2013 Distributions paid $ 42,537 $ 10,597 $ 998 Distributions declared $ 44,908 $ 12,318 $ 1,289 For federal income tax purposes, distributions may consist of ordinary 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 capital gain distributions. 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 distribution and reduce the recipient’s basis in the shares to the extent thereof. Distributions in excess of earnings and profits that reduce a recipient’s 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 basis is reduced to zero, distributions in excess of the aforementioned earnings and profits (calculated for income tax purposes) constitute taxable gain. 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, 2015, 2014 and 2013, the Company’s taxable income (loss) was $12,720 (unaudited), $3,283 (unaudited) and $(1,397) (unaudited), respectively The following table sets forth the taxability of distributions on common shares, on a per share basis, paid in 2015, 2014 and 2013 2015 (a) 2014 2013 Ordinary income $ 0.20 $ 0.19 $ — Nontaxable return of capital $ 0.47 $ 0.41 $ 0.60 (a) On February 19, 2015, the Company paid an aggregate special distribution of $3,283 to stockholders of record as of January 30, 2015 ($0.07 per share).

Earnings (Loss) per Share

Earnings (Loss) per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings (Loss) per Share	NOTE 8 – EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share (“EPS”) are 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 potential common shares issuable upon exercising options or other contracts. As of December 31, 2015, 2014 and 2013, the Company did not have any dilutive common share equivalents outstanding.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9 – COMMITMENTS AND CONTINGENCIES The acquisition of certain of the Company’s properties included an earnout component to the purchase price that was recorded as a deferred investment property acquisition obligation (“Earnout liability”). The maximum potential earnout payment was $23,243 at December 31, 2015. The table below presents the change in the Company’s Earnout liability for the years ended December 31, 2015 and 2014. December 31, 2015 2014 Earnout liability-beginning of period $ 3,646 $ 723 Increases: Acquisitions 18,211 5,511 Amortization expense 83 167 Decreases: Earnout payments (3,095 ) (2,790 ) Other: Adjustments to acquisition related costs 26 35 Earnout liability – end of period $ 18,871 $ 3,646 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, 2015
Segment Reporting [Abstract]
Segment Reporting	NOTE 10 – SEGMENT REPORTING The Company has one reportable segment, retail real estate, as defined by U.S. GAAP for the years ended December 31, 2015, 2014 and 2013. Concentration of credit risk with respect to accounts receivable currently exists due to the small number of tenants currently comprising the Company's rental revenue. The concentration of revenues for these tenants increases the Company’s risk associated with nonpayment by these tenants. In an effort to reduce risk, the Company performs ongoing credit evaluations of its larger tenants.

Transactions with Related Parti

Transactions with Related Parties	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Transactions With Related Parties	NOTE 11 – TRANSACTIONS WITH RELATED PARTIES The Company is a member of a limited liability company formed as an insurance association captive (“Captive”), which is owned by the Company, Inland Real Estate Corporation, InvenTrust Properties Corp. and Retail Properties of America, Inc. This amount is recorded in investment in unconsolidated entity in the accompanying consolidated balance sheets. The Company owns 1,000 shares of common stock in The Inland Real Estate Group of Companies, Inc. with a recorded value of $1 at December 31, 2015 and December 31, 2014. This amount is included in other assets in the accompanying consolidated balance sheets. The following table summarizes the Company’s related party transactions for the years ended December 31, 2015, 2014 and 2013. Year ended December 31, Unpaid amounts as of 2015 2014 2013 December 31, 2015 December 31, 2014 General and administrative reimbursements (a) $ 1,367 $ 466 $ 268 $ 287 $ 139 Affiliate share purchase discounts (b) 28 150 369 — — Total general and administrative expenses $ 1,395 $ 616 $ 637 $ 287 $ 139 Acquisition related costs $ 1,388 $ 744 $ 86 $ 165 $ 157 Acquisition fees 9,580 3,465 458 6,010 Total acquisition costs and fees (c) $ 10,968 $ 4,209 $ 544 $ 6,175 $ 157 Real estate management fees $ 2,762 $ 631 $ 81 $ — $ — Construction management fees 135 15 — 80 — Leasing fees 40 — — 40 — Total real estate management related costs (d) $ 2,937 $ 646 $ 81 $ 120 $ — Offering costs (e) $ 41,180 $ 33,141 $ 5,785 $ 63 $ 210 Sponsor non-interest bearing advances (f) $ — $ — $ — $ — $ 1,630 Business management fees (g) $ 5,501 $ 773 $ 226 $ 1,950 $ 558 Sponsor contribution (h) $ 3,283 $ 640 $ — $ — $ — (a) The Business Manager and its related parties are entitled to reimbursement for certain general and administrative expenses of the Business Manager and its related parties relating to the Company’s administration. Such costs are included in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. (b) The Company established a discount stock purchase policy for related parties and related parties of the Business Manager that enabled the related parties to purchase shares of common stock at $9.00 per share in the Offering. The Company sold 28,129, 150,426 and 369,526 shares to related parties during the years ended December 31, 2015, 2014 and 2013, respectively. (c) The Company pays the Business Manager or its affiliates a fee equal to 1.5% of the “contract purchase price,” as defined, of each asset acquired. The Business Manager and its related parties are also reimbursed for acquisition and transaction related costs of the Business Manager and its related parties relating to the Company’s acquisition of real estate assets, regardless of whether the Company acquires the real estate assets. Such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. For the years ended December 31, 2015 and 2014, the Business Manager permanently waived acquisition fees of $2,510 and $2,262, respectively. (d) For each property that is managed by Inland National Real Estate Services, LLC or Inland Commercial Real Estate Services LLC (collectively, the “Real Estate Managers”), 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. Each 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 one of the Real Estate Managers 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 Managers 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 accompanying consolidated balance sheets. The Company also reimburses each 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 Managers and their affiliates except for the salaries, bonuses and benefits of persons who also serve as an executive officer of any of the Real Estate Managers. Real estate management fees and reimbursable expenses are included in property operating expenses in the accompanying consolidated statements of operations and comprehensive loss. (e) A related party of the Business Manager received selling commissions equal to 7.0% of the sale price for each share sold and a marketing contribution equal to 3.0% of the gross offering proceeds from shares sold in the Offering, the majority of which was re-allowed (paid) to third party soliciting dealers. The Company also reimbursed a related party of the Business Manager and the soliciting dealers for bona fide, out-of-pocket itemized and detailed due diligence expenses in amounts up to 0.5% of the gross offering proceeds. The expenses were reimbursed from amounts paid or re-allowed to these entities as a marketing contribution. The Company reimbursed the Sponsor, its affiliates and third parties for costs and other expenses of the Offering that they paid on the Company’s behalf, in an amount not to exceed 1.5% of the gross offering proceeds from shares sold in the “best efforts” Offering. The Company does not pay selling commissions or the marketing contribution or reimburse issuer costs in connection with shares of common stock issued through the DRP. Offering costs are offset against the stockholders’ equity accounts. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. (f) As of December 31, 2014, the Sponsor advanced $1,630 to pay offering and organizational costs, all of which has been repaid as of December 31, 2015. (g) The Company pays the Business Manager an annual business management fee equal to 0.65% of its “average invested assets,” as defined in the business management agreement, 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. For the year ended December 31, 2014, the Business Manager was entitled to a business management fee in the amount equal to $1,433, of which $433 was permanently waived. The Business Manager also permanently waived business management fees of $226 incurred for the year ended December 31, 2013 which was included as a reduction of due to related parties in the accompanying balance sheets as of December 31, 2014. No fees were waived for the year ended December 31, 2015. (h) During the years ended December 31, 2015 and 2014, the Sponsor contributed $3,283 and $640, respectively, to the Company. The Sponsor has not received, and will not receive, any additional shares of the Company’s common stock for making these contributions. There is no assurance that the Sponsor will continue to contribute any additional monies.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Operating Leases	NOTE 12 – OPERATING LEASES Minimum lease payments to be received under operating leases including ground leases, as of December 31, 2015 Minimum Payments 2016 $ 83,080 2017 78,427 2018 71,229 2019 62,021 2020 55,550 Thereafter 278,524 Total $ 628,831 The remaining lease terms range from less than one year to 21 years. 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 in 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 and reimbursements are included in tenant recovery income on the consolidated statements of operations and comprehensive loss.

Quarterly Supplemental Financia

Quarterly Supplemental Financial Information	12 Months Ended
	Dec. 31, 2015
Notes To Financial Statements [Abstract]
Quarterly Supplemental Financial Information	NOTE 13 – QUARTERLY SUPPLEMENTAL FINANCIAL INFORMATION (UNAUDITED) The following represents the results of operations, for each quarterly period, during 2015 and 2014. 2015 Dec 31 Sept 30 Jun 30 Mar 31 Total income $ 26,826 $ 19,762 $ 18,282 $ 11,672 Net loss $ (9,051 ) $ (262 ) $ (3,500 ) $ (623 ) Net loss per common share, basic and diluted (1) $ (0.11 ) $ — $ (0.05 ) $ (0.01 ) Weighted average number of common shares outstanding, basic and diluted (1) 85,564,146 76,111,571 66,130,000 49,092,127 2014 Dec 31 Sept 30 Jun 30 Mar 31 Total income $ 7,659 $ 6,042 $ 3,511 $ 1,734 Net loss $ (612 ) $ (817 ) $ (2,363 ) $ (564 ) Net loss per common share, basic and diluted (1) $ (0.02 ) $ (0.03 ) $ (0.18 ) $ (0.06 ) Weighted average number of common shares outstanding, basic and diluted (1) 36,112,929 23,733,441 13,377,773 8,703,608 (1) Quarterly net loss per common share amounts may not total the annual amounts due to rounding and the changes in the number of weighted common shares outstanding.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	NOTE 14 – SUBSEQUENT EVENTS Distributions The Company’s board of directors declared distributions payable to stockholders of record each day beginning on the close of business on January 1, 2016 through the close of business on April 30, 2016. Through that date, distributions were declared in a daily amount equal to $0.001639344 per share, based upon a 366-day period, which equates to $0.60 per share or a 6% annualized rate based on a purchase price of $10.00 per share. Distributions were paid monthly in arrears, as follows: Distribution Month Month Distribution Paid Gross Amount of Distribution Paid Distribution Reinvested through DRP Shares Issued Net Cash Distribution December 2015 January 2016 $ 4,397 $ 2,362 248,629 $ 2,035 January 2016 February 2016 $ 4,393 $ 2,358 248,177 $ 2,036 February 2016 March 2016 $ 4,120 $ 2,204 232,019 $ 1,916 The Company entered into the following financings subsequent to December 31, 2015. Date Property Interest Rate (stated) Principal Amount Maturity Date 1/25/2016 Marketplace at El Paseo 2.95% $ 38,000 2/1/2021 1/28/2016 Milford Marketplace 4.02% $ 18,727 2/1/2026 In January 2016, the Company amended its Credit Facility to, among other matters, increase the aggregate commitment under the Credit Facility by $10,000 to $110,000. In February 2016, the Company paid $85,000 towards the principal on the Credit Facility reducing the outstanding balance to $15,000. Additionally, in January 2016, the Company paid in full the $11,926 mortgage principal plus accrued interest balance on the Oquirrh Mountain Marketplace short-term loan. Real Estate Manager Contract Assignment Due to a corporate reorganization, Inland National Real Estate Services, LLC (“Inland National”), the Company’s real estate manager and an indirect wholly-owned subsidiary of the Sponsor, is transitioning its management responsibilities to Inland Commercial Real Estate Services LLC (“Inland Commercial”), which is also an indirect wholly-owned subsidiary of the Sponsor. As part of the reorganization, Inland National assigned its interest in the master real estate management agreement with the Company to Inland Commercial on January 1, 2016. All terms of the real estate management agreement remain the same. Certain of the Company’s properties are managed by Inland Commercial, effective as of January 1, 2016. The remaining properties are still managed by Inland National, and their property management functions are expected to be transferred to Inland Commercial, effective as of April 1, 2016. Investment in unconsolidated entity In March 2016, the Captive was notified by Inland Real Estate Corporation of its intention to dissociate. Previously, InvenTrust Properties Corp. and Retail Properties of America, Inc. terminated their future participation effective December 1, 2015 and December 1, 2014, respectively. Based upon this notice and regulatory requirements, it is expected the Captive will terminate its operations in accordance with the applicable rules and regulations for an insurance association captive in 2016. As a result, the Company will need to obtain separate property and general liability insurance once the Captive is unable to provide the Company coverage. As of the date of this report, the Company is unable to determine if it would be liable for any proportional cost associated with the termination of the Captive.

Schedule III Real Estate and Ac

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
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, 2015 (Dollar amounts in thousands) Initial Gross amount carried at end of period (B) Property Name Encum- brance Land Buildings and Improve- ments Cost Capita- lized Subse- quent to Acquisi- tions Land(C) Buildings and Improve- ments (C) Total (C) Accumu- lated Deprecia- tion (E) Date Con- structed Date Acquired Depre- ciable Lives 2727 Iowa St (D) $ — $ 2,154 $ 16,079 $ (37 ) $ 2,154 $ 16,042 $ 18,196 $ (145 ) 2014-2015 2015 15-30 Lawrence, KS Blossom Valley Plaza — 9,515 11,142 — 9,515 11,142 20,657 (70 ) 1988 2015 15-30 Turlock, CA Branson Hills Plaza 2,955 3,787 6,039 — 3,787 6,039 9,826 (231 ) 2005 2014 15-30 Branson, MO Dixie Valley 6,798 2,807 9,053 454 2,807 9,507 12,314 (405 ) 1988 2014 15-30 Louisville, KY Dogwood Festival 24,352 4,500 41,865 142 4,500 42,007 46,507 (2,263 ) 2002 2014 5-30 Flowood, MO Dollar General 592 159 857 — 159 857 1,016 (96 ) 2012 2012 15-30 Brooks, GA Dollar General 482 69 761 — 69 761 830 (85 ) 2012 2012 15-30 Daleville, AL Dollar General 521 148 780 — 148 780 928 (92 ) 2012 2012 15-30 East Brewton, AL Dollar General (Hamilton) 621 100 986 — 100 986 1,086 (110 ) 2012 2012 15-30 LaGrange, GA Dollar General (Wares Cross) 681 248 943 — 248 943 1,191 (106 ) 2012 2012 15-30 LaGrange, GA Dollar General 695 273 939 — 273 939 1,212 (111 ) 2012 2012 15-30 Madisonville, TN Dollar General 631 249 841 — 249 841 1,090 (94 ) 2012 2012 15-30 Maryville, TN Dollar General 601 208 836 — 208 836 1,044 (94 ) 2012 2012 15-30 Mobile, AL Dollar General 586 200 818 — 200 818 1,018 (91 ) 2012 2012 15-30 Newport, TN Dollar General 847 324 1,178 — 324 1,178 1,502 (139 ) 2012 2012 15-30 Robertsdale, AL Dollar General 531 119 805 — 119 805 924 (90 ) 2012 2012 15-30 Valley, AL Dollar General 692 272 939 — 272 939 1,211 (111 ) 2012 2012 15-30 Wetumpka, AL Eastside Junction 6,270 2,411 8,393 — 2,411 8,393 10,804 (244 ) 2008 2015 15-30 Athens, AL Fairgrounds Crossing 13,453 6,069 22,637 — 6,069 22,637 28,706 (615 ) 2008 2015 15-30 Hot Springs, AR Fox Point Plaza 10,837 3,518 12,680 — 3,518 12,680 16,198 (458 ) 2008 2014 15-30 Neenah, WI Frisco Marketplace (D) — 6,618 3,315 — 6,618 3,315 9,933 (111 ) 2002 2015 15-30 Frisco, TX Green Tree Shopping Center 13,100 7,218 17,846 (209 ) 7,218 17,637 24,855 (474 ) 1997 2015 15-30 Katy, TX Harris Plaza (D) — 6,500 19,403 108 6,500 19,511 26,011 (1,003 ) 2001-2008 2014 15-30 Layton, UT Harvest Square 6,800 2,186 9,330 — 2,186 9,330 11,516 (361 ) 2008 2014 15-30 Harvest, AL Heritage Square 4,460 2,028 5,538 16 2,028 5,554 7,582 (202 ) 2010 2014 15-30 Conyers, AL Kroger - Copps Grocery Store (D) — 1,440 11,799 — 1,440 11,799 13,239 (435 ) 2012 2014 15-30 Stevens Point, WI Kroger - Pick n Save Center 9,561 3,150 14,283 — 3,150 14,283 17,433 (752 ) 2011 2014 15-30 West Bend, WI Lakeside Crossing 9,910 1,460 16,999 — 1,460 16,999 18,459 (979 ) 2013 2014 15-30 Lynchburg, VA Landing at Ocean Isle Beach (D) — 3,053 7,081 39 3,053 7,120 10,173 (314 ) 2009 2014 15-30 Ocean Isle, NC Mansfield Pointe 14,200 5,350 20,002 — 5,350 20,002 25,352 (1,300 ) 2008 2014 15-30 Mansfield, TX Marketplace at El Paseo — 16,390 46,971 — 16,390 46,971 63,361 (281 ) 2014 2015 15-30 Fresno, CA Marketplace at Tech Center 43,500 10,684 68,580 — 10,684 68,580 79,264 — 2015 2015 15-30 Newport News, VA MidTowne Shopping Center 20,725 8,810 29,699 111 8,810 29,810 38,620 (1,839 ) 2005/2008 2014 5-30 Little Rock, AR Milford Marketplace — — 35,867 — — 35,867 35,867 (320 ) 2007 2015 15-30 Milford, CT Newington Fair (D) — 7,833 8,329 331 7,833 8,660 16,493 (1,175 ) 1994/2009 2012 15-30 Newington, CT North Hills Square 5,525 4,800 5,493 — 4,800 5,493 10,293 (374 ) 1997 2014 15-30 Coral Springs, FL Oquirrh Mountain Marketplace 11,920 4,254 14,467 — 4,254 14,467 18,721 (84 ) 2014-2015 2015 15-30 Jordan, UT Park Avenue Shopping Center 11,684 5,500 16,365 2,383 5,500 18,748 24,248 (1,109 ) 2012 2014 15-30 Little Rock, AR Plaza at Prairie Ridge (D) — 618 2,305 — 618 2,305 2,923 (69 ) 2008 2015 15-30 Pleasant Prairie, WI Prattville Town Center 15,930 5,336 27,648 24 5,336 27,672 33,008 (763 ) 2007 2015 15-30 Prattville, AL Regal Court 26,000 5,873 41,181 352 5,873 41,533 47,406 (1,109 ) 2008 2015 15-30 Shreveport, LA Settlers Ridge 76,533 25,961 98,157 — 25,961 98,157 124,118 (921 ) 2011 2015 15-30 Pittsburgh, PA Shoppes at Lake Park (D) — 2,285 8,527 — 2,285 8,527 10,812 (284 ) 2008 2015 15-30 West Valley City. UT Shoppes at Market Pointe 13,700 12,499 8,388 333 12,499 8,721 21,220 (245 ) 2006-2007 2015 15-30 Papillion, NE Shoppes at Prairie Ridge 15,591 7,521 22,468 39 7,521 22,507 30,028 (804 ) 2009 2014 15-30 Pleasant Prairie, WI The Shoppes at Branson Hills 26,678 4,418 37,229 121 4,418 37,350 41,768 (1,328 ) 2005 2014 15-30 Branson, MO Shops at Hawk Ridge (D) — 1,328 10,341 228 1,328 10,569 11,897 (278 ) 2009 2015 5-30 St. Louis, MO Treasure Valley (D) — 3,133 12,000 — 3,133 12,000 15,133 (256 ) 2014 2015 15-30 Nampa, ID Village at Burlington Creek 17,723 10,791 19,384 57 10,791 19,441 30,232 (121 ) 2007 & 2015 2015 15-30 Kansas City, MO Walgreens Plaza 4,650 2,624 9,683 162 2,624 9,845 12,469 (271 ) 2011 2015 15-30 Jacksonville, NC Wedgewood Commons 15,260 2,220 26,577 — 2,220 26,577 28,797 (1,870 ) 2009-2013 2013 15-30 Olive Branch, MS Whispering Ridge (D) — 4,121 10,418 — 4,121 10,418 14,539 (255 ) 2007 2015 15-30 Omaha, NE White City 49,400 18,960 70,423 1,106 18,960 71,529 90,489 (1,862 ) 2013 2015 15-30 Shrewsbury, MA Yorkville Marketplace (D) — 4,990 13,928 — 4,990 13,928 18,918 (346 ) 2002 & 2007 2015 15-30 Yorkville, IL Total: $ 484,995 $ 247,082 $ 908,595 $ 5,760 $ 247,082 $ 914,355 $ 1,161,437 $ (27,545 ) 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, 2015 and 2014 for federal income tax purposes was approximately $1,271,000 and $450,600, respectively (unaudited). (C) Reconciliation of real estate owned: 2015 2014 2013 Balance at January 1, $ 414,463 $ 58,327 $ 29,214 Acquisitions 743,893 356,154 28,797 Improvements, net of master lease 3,081 (18 ) 316 Balance at December 31, $ 1,161,437 $ 414,463 $ 58,327 (D) These properties serve as security for our Credit Facility. (E) Reconciliation of accumulated depreciation: Balance at January 1, $ 6,236 $ 808 $ 32 Depreciation expense 21,309 5,428 776 Balance at December 31, $ 27,545 $ 6,236 $ 808

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
General	General The accompanying consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. 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.
Consolidation	Consolidation The accompanying 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, the Company determines the total purchase price of each property (see Note 4 – “Acquisitions”), which includes the estimated contingent consideration to be paid or received in future periods, if any. The Company allocates the total purchase price of properties based on the 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. Assets and liabilities acquired typically include land, building and personal property 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 are 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 are 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. 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 earnout payments are based on a predetermined formula applied to rental income to be received. The earnout agreements have a limited obligation period from the date of acquisition, as defined. If at the end of the time period certain space has not been leased, occupied and rent producing, the Company will have no further obligation to pay additional purchase price consideration and will retain ownership of that entire property. Based on its best estimate, the Company has recorded a liability for the potential future earnout payments using estimated fair value at the date of acquisition using Level 3 inputs including market rents ranging from $14.00 to $42.00 per square foot, probability of occupancy ranging from 0% to 100% based on leasing activity and utilizing a discount rate of 6.50% to 8.25%. The Company has recorded this earnout amount as additional purchase price of the related property and as a liability included in deferred investment property acquisition obligations on the accompanying consolidated balance sheets. Fair value adjustments may be deemed necessary but generally, the liability increases as the anticipated payment date draws near based on a present value; such increases in the liability are recorded as amortization expense on the accompanying consolidated statements of operations and comprehensive loss. The Company records the effect of changes in the underlying liability assumptions in acquisition related costs on the accompanying consolidated statements of operations and comprehensive loss.
Capitalization and Depreciation	Capitalization and Depreciation Real estate acquisitions are recorded at cost less accumulated depreciation. Improvement and betterment costs are capitalized, and ordinary repairs and maintenance are expensed as incurred. Transaction costs in connection with the acquisition of real estate properties and businesses are expensed as incurred and included in acquisition related costs. 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 approximately $21,319, $5,428 and $776 for the years ended December 31, 2015, 2014 and 2013, respectively.
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. For assets and liabilities measured at fair value on a recurring basis, quantitative disclosure of the fair value for each major category of assets and liabilities is presented below: Fair Value Measurements at December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Derivative interest rate swap agreements $ — $ (3,791 ) $ — Total liabilities $ — $ (3,791 ) $ — 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.
Partially-Owned Entities	Partially-Owned Entities The Company will consolidate the operations of a joint venture if the Company determines that it is either the primary beneficiary of a variable interest entity (VIE) or has substantial influence and control of the entity. In instances where the Company determines that it is not the primary beneficiary of a VIE or the Company does not control the joint venture but can exercise influence over the entity with respect to its operations and major decisions, the Company will use the equity method of accounting. Under the equity method, the operations of a joint venture will not be consolidated with the Company’s operations but instead its share of operations will be reflected as equity in earnings (loss) of unconsolidated entity on its consolidated statements of operations and comprehensive loss. Additionally, the Company’s net investment in the joint venture will be reflected as investment in unconsolidated entity on the consolidated balance sheets.
Offering And Organization Costs	Offering and Organization Costs Costs associated with the Offering (as defined below) are deferred and charged against the gross proceeds of the Offering upon the sale of shares. Formation and organizational costs were expensed as incurred.
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 Company maintains its cash and cash equivalents at financial institutions. 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.
REIT Status	REIT Status The Company has qualified and 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. 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 relief provisions, the Company will be subject to federal (including any applicable alternative minimum tax) and state income tax on its taxable income at regular corporate tax rates. 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 on its undistributed income.
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 proceeds, including net rental income during the holding period, from disposition that are estimated based on future net rental income of the property and expected market capitalization rates. The use of projected future cash flows is based on assumptions that are consistent with our 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 the real estate properties. During the years ended December 31, 2015, 2014 and 2013 no
Deferred Loan Fees	Deferred Loan Fees Direct financing costs are deferred and 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 included in deferred costs, net.
Revenue Recognition	Revenue Recognition The Company commences revenue recognition on its leases based on a number of factors. In most cases, revenue recognition under a lease begins when the lessee takes possession of, or controls the physical use of, the leased asset. Generally, this occurs on the lease commencement date. The determination of who is the owner, for accounting purposes, of the tenant improvements determines the nature of the leased asset and when revenue recognition under a lease begins. If the Company is the owner, for accounting purposes, of the tenant improvements, then the leased asset is the finished space and revenue recognition begins when the lessee takes possession of the finished space, typically when the improvements are substantially complete. 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. In these circumstances, the Company begins revenue recognition when the lessee takes possession of the unimproved space for the lessee to construct their own improvements. 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. The determination of who owns the tenant improvements, for accounting purposes, is subject to significant judgment. 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 rents receivable in the accompanying 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. The Company periodically reviews the collectability of outstanding receivables. Allowances are taken for those balances that the Company deems to be uncollectible, including any amounts relating to straight-line income receivables. 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 records lease termination income if there is a signed termination agreement, all of the conditions of the agreement have been met, the tenant is no longer occupying the property and amounts due are considered collectible. Upon early lease termination, the Company provides for gains or losses related to unrecovered intangibles and other assets. 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842). In September 2015, the FASB issued ASU No. 2015-16, Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. As of December 31, 2015, the amount of total debt issuance costs was approximately $4,400 and was classified as deferred costs, net in the Company’s consolidated balance sheet. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
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
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	For assets and liabilities measured at fair value on a recurring basis, quantitative disclosure of the fair value for each major category of assets and liabilities is presented below: Fair Value Measurements at December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Derivative interest rate swap agreements $ — $ (3,791 ) $ — Total liabilities $ — $ (3,791 ) $ —

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2015
Business Acquisition [Line Items]
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, 2015 and 2014. The amounts recognized for major assets acquired and liabilities assumed as of the acquisition date are as follows: For the Year Ended December 31, 2015 2014 Land $ 163,832 $ 70,828 Building and improvements 580,061 285,326 Acquired lease intangible assets, net 128,586 48,331 Acquired intangible liabilities, net (49,528 ) (18,386 ) Fair value adjustment related to the assumption of mortgages payable (3,430 ) (1,825 ) Deferred investment property acquisition obligations (18,211 ) (5,511 ) Total (a) $ 801,310 $ 378,763 (a) Total for the year ended December 31, 2015 includes $2,788 for 7,986 square feet acquired at Park Avenue Shopping Center and excludes other assets of $791.
Schedule of Pro Forma Financial Information for Acquisitions	For the Year Ended December 31, (unaudited) 2015 2014 Pro forma total income $ 106,658 $ 98,174 Pro forma net income $ (2,674 ) $ 5,451 Earnings per share (a) $ (0.03 ) $ 0.06 (a) Based on number of common shares outstanding as of December 31, 2015.
2015 Acquisitions [Member]
Business Acquisition [Line Items]
Schedule of Acquisitions	2015 Acquisitions During the year ended December 31, 2015 and Date Acquired Property Name Location Property Type Square Footage Purchase Price 1st Quarter 1/29/15 Shoppes at Lake Park West Valley City, UT Multi-Tenant Retail 52,997 $ 11,559 2/19/15 Plaza at Prairie Ridge Pleasant Prairie, WI Multi-Tenant Retail 9,035 3,400 3/13/15 Green Tree Center Katy, TX Multi-Tenant Retail 147,621 26,244 3/16/15 Eastside Junction Athens, AL Multi-Tenant Retail 79,700 12,278 3/16/15 Fairgrounds Crossing Hot Springs, AR Multi-Tenant Retail 155,127 29,197 3/16/15 Prattville Town Center Prattville, AL Multi-Tenant Retail 168,842 33,329 3/16/15 Regal Court Shreveport, LA Multi-Tenant Retail 362,961 50,364 3/16/15 Shops at Hawk Ridge St. Louis, MO Multi-Tenant Retail 75,951 12,721 3/16/15 Walgreens Plaza Jacksonville, NC Multi-Tenant Retail 42,219 13,663 3/16/15 Whispering Ridge Omaha, NE Multi-Tenant Retail 69,676 15,803 3/31/15 Frisco Marketplace (a) Frisco, TX Multi-Tenant Retail 112,024 11,040 2nd Quarter 4/08/15 White City Shrewsbury, MA Multi-Tenant Retail 257,080 96,750 4/21/15 Treasure Valley (b) Nampa, ID Multi-Tenant Retail 133,292 17,931 4/28/15 Yorkville Marketplace Yorkville, IL Multi-Tenant Retail 111,591 24,500 5/27/15 Shoppes at Market Pointe Papillion, NE Multi-Tenant Retail 253,903 27,200 3rd Quarter 9/17/15 2727 Iowa Street Lawrence, KS Multi-Tenant Retail 84,981 18,622 4th Quarter 10/1/15 Settlers Ridge Pittsburgh, PA Multi-Tenant Retail 472,572 139,054 10/1/15 Milford Marketplace Milford, CT Multi-Tenant Retail 112,257 33,971 10/16/15 Marketplace at El Paseo Fresno, CA Multi-Tenant Retail 224,683 70,000 10/19/15 Blossom Valley Plaza Turlock, CA Multi-Tenant Retail 111,558 21,704 10/22/15 The Village at Burlington Creek Kansas City, MO Multi-Tenant Retail 158,118 35,366 10/29/15 Oquirrh Mountain Marketplace South Jordan, UT Multi-Tenant Retail 71,750 22,092 12/24/15 Marketplace at Tech Center Newport News, VA Multi-Tenant Retail 210,584 72,525 3,478,522 $ 799,313 (a) Includes 4,481 square feet which was acquired on 4/1/15 for $2,080. (b) Includes 21,000 square feet which was acquired on 12/9/15 for $2,731.
2014 Acquisitions [Member]
Business Acquisition [Line Items]
Schedule of Acquisitions	2014 Acquisitions During the year ended December 31, 2014 and Date Acquired Property Name Location Property Type Square Footage Purchase Price 1st Quarter 2/21/14 Park Avenue Shopping Center (a) Little Rock, AR Multi-Tenant Retail 69,381 $ 23,368 2/27/14 North Hills Square Coral Springs, FL Multi-Tenant Retail 63,829 11,050 2nd Quarter 4/8/14 Mansfield Pointe Mansfield, TX Multi-Tenant Retail 148,529 28,100 5/13/14 MidTowne Shopping Center Little Rock, AR Multi-Tenant Retail 126,288 41,450 5/23/14 Lakeside Crossing Lynchburg, VA Multi-Tenant Retail 62,706 16,967 6/27/14 Dogwood Festival Flowood, MS Multi-Tenant Retail 187,610 48,689 3rd Quarter 7/11/14 Pick N Save Center West Bend, WI Multi-Tenant Retail 86,800 19,123 8/4/14 Harris Plaza Layton, UT Multi-Tenant Retail 123,890 27,019 4th Quarter 11/5/14 Dixie Valley Louisville, KY Multi-Tenant Retail 119,981 12,220 11/21/14 Landing at Ocean Isle Ocean Isle, NC Multi-Tenant Retail 53,220 10,895 12/16/14 Shoppes at Prairie Ridge Pleasant Prairie, WI Multi-Tenant Retail 232,606 32,527 12/16/14 Harvest Square Harvest, AL Multi-Tenant Retail 70,590 13,018 12/16/14 Heritage Square Conyers, GA Multi-Tenant Retail 22,385 9,011 12/16/14 & 12/19/14 The Shoppes at Branson Hills Branson, MO Multi-Tenant Retail 256,017 42,803 12/16/14 & 12/22/14 Branson Hills Plaza Branson, MO Multi-Tenant Retail 210,201 9,667 12/16/14 Copps Grocery Store Stevens Point, WI Multi-Tenant Retail 69,911 15,544 12/16/14 Fox Point Plaza Neenah, WI Multi-Tenant Retail 171,121 17,312 2,075,065 $ 378,763 (a) Excludes 7,986 square feet which was acquired on 12/29/15 for $2,788.

Acquired Intangible Assets an25

Acquired Intangible Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 and 2014: December 31, 2015 December 31, 2014 Intangible assets: Acquired in place lease value $ 146,910 $ 48,848 Acquired above market lease value 36,099 5,575 Accumulated amortization (18,236 ) (2,732 ) Acquired lease intangibles, net $ 164,773 $ 51,691 Intangible liabilities: Acquired below market lease value $ 63,529 $ 19,170 Above market ground lease 5,169 — Accumulated amortization (3,504 ) (494 ) Acquired below market lease intangibles, net $ 65,194 $ 18,676
Schedule of Amortization of Acquired In Place Lease Value, Above Market Ground Lease, Above and Below Market Lease Value	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: 2015 2014 2013 Acquired in place lease value $ 13,170 $ 2,083 $ 228 Amortization recorded as a reduction to property operating expense: Above market ground lease $ 24 $ — $ — Amortization recorded as a (reduction) increase to rental income: Acquired above market leases $ (2,334 ) $ (411 ) $ — Acquired below market leases 2,986 470 24 Net rental income increase $ 652 $ 59 $ 24
Schedule of Estimated Amortization of Intangible Lease Assets and Liabilities	Estimated amortization of the respective intangible lease assets and liabilities as of December 31, 2015 for each of the five succeeding years and thereafter is as follows: Acquired In-Place Leases Above Market Leases Below Market Leases Above Market Ground Lease 2016 $ 20,121 $ 3,946 $ (4,540 ) $ (94 ) 2017 19,181 3,742 (4,387 ) (94 ) 2018 17,241 3,187 (4,205 ) (94 ) 2019 15,430 2,751 (4,022 ) (94 ) 2020 12,720 2,470 (3,789 ) (94 ) Thereafter 46,727 17,257 (39,105 ) (4,676 ) Total $ 131,420 $ 33,353 $ (60,048 ) $ (5,146 )

Debt and Derivative Instrumen26

Debt and Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Mortgages and Credit Facilities Payable	As of December 31, 2015 and December 31, 2014, the Company had the following mortgages and credit facility payable: December 31, 2015 December 31, 2014 Type of Debt Principal Amount Weighted Average Interest Rate Principal Amount Weighted Average Interest Rate Fixed rate mortgages payable $ 162,692 4.37 % $ 28,279 5.06 % Variable rate mortgages payable with swap agreements 238,617 3.64 % 128,876 2.79 % Variable rate mortgages payable 83,686 2.99 % 27,582 2.01 % Mortgages payable $ 484,995 3.77 % $ 184,737 3.02 % Credit facility payable $ 100,000 1.65 % $ — — Unamortized debt premiums 3,971 1,297 Total debt $ 588,966 $ 186,034
Schedule of Principal Payments and Maturities of Company's Debt	As of December 31, 2015, scheduled principal payments and maturities on the Company’s debt were as follows: December 31, 2015 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Maturities of Mortgage Loans Maturity of Credit Facility Total 2016 $ 108 $ 58,359 $ — $ 58,467 2017 239 6,264 — 6,503 2018 205 15,260 — 15,465 2019 215 142,625 — 142,840 2020 898 — 100,000 100,898 Thereafter 3,108 257,714 — 260,822 Total $ 4,773 $ 480,222 $ 100,000 $ 584,995
Summary of Interest Rate Swap Contracts Outstanding	The following table summarizes the Company’s interest rate swap contracts outstanding as of December 31, 2015. Date Entered Effective Date Maturity Date Pay Fixed Rate (a) Notional Amount Fair Value December 2015 March 28, 2014 March 1, 2015 March 28, 2019 2.22 % $ 5,525 $ (167 ) May 8, 2014 May 5, 2015 May 7, 2019 2.10 % 14,200 (379 ) May 23, 2014 May 1, 2015 May 22, 2019 2.00 % 8,484 (199 ) June 6, 2014 June 1, 2015 May 8, 2019 2.15 % 11,684 (332 ) June 26, 2014 July 5, 2015 July 5, 2019 2.11 % 20,725 (568 ) June 27, 2014 July 1, 2014 July 1, 2019 1.85 % 24,352 (446 ) July 31, 2014 July 31, 2014 July 31, 2019 1.94 % 9,561 (206 ) December 16, 2014 December 16, 2014 June 22, 2016 1.97 % 13,359 (92 ) December 16, 2014 December 16, 2014 October 21, 2016 1.50 % 10,837 (77 ) December 16, 2014 December 16, 2014 May 9, 2017 1.13 % 10,150 (46 ) February 11, 2015 March 2, 2015 March 1, 2022 2.02 % 6,114 (127 ) April 7, 2015 April 7, 2015 April 7, 2022 1.74 % 49,400 (209 ) July 8, 2015 August 1, 2015 May 22, 2019 1.43 % 1,426 (7 ) September 17, 2015 September 17, 2015 September 17, 2022 1.90 % 13,700 (143 ) October 2, 2015 November 1, 2015 November 1, 2015 1.79 % 13,100 (41 ) December 23, 2015 December 23, 2015 January 2, 2026 2.30 % 26,000 (752 ) $ 238,617 $ (3,791 ) (a) Receive floating rate index based upon one month LIBOR. At December 31, 2015, the one month LIBOR equaled 0.43%.
Schedule of Cash Flow Hedges and Classification on Consolidated Balance Sheets	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, 2015 and 2014, respectively. December 31, 2015 December 31, 2014 Balance Location Fair Value Balance Location Fair Value Derivatives designated as cash flow hedges: Interest rate swap agreements Other $ 3,791 Other $ 2,089
Schedule of Derivative Financial Instruments 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, 2015, 2014, and 2013. Year Ended December 31, Derivatives in Cash Flow Hedging Relationships 2015 2014 2013 Amount of loss recognized in OCL on derivative (effective portion) $ (4,612 ) $ (1,810 ) $ — Amount of loss reclassified from accumulated OCL into income (effective portion) $ 2,546 $ 282 $ — Amount of loss recognized in income on derivative (ineffective portion) $ 365 $ — $ — Year Ended December 31, Derivatives Not Designated as Hedging Instruments 2015 2014 2013 Amount of loss recognized in income on derivative (ineffective portion) $ (1 ) $ (33 ) $ —

Distributions (Tables)

Distributions (Tables)	12 Months Ended
	Dec. 31, 2015
Distributions [Abstract]
Schedule of Distributions Paid and Declared	The table below presents the distributions paid and declared for the years ended December 31, 2015, 2014 and 2013. December 31, 2015 2014 2013 Distributions paid $ 42,537 $ 10,597 $ 998 Distributions declared $ 44,908 $ 12,318 $ 1,289
Declared monthly distribution to its common stockholders	The following table sets forth the taxability of distributions on common shares, on a per share basis, paid in 2015, 2014 and 2013 2015 (a) 2014 2013 Ordinary income $ 0.20 $ 0.19 $ — Nontaxable return of capital $ 0.47 $ 0.41 $ 0.60 (a) On February 19, 2015, the Company paid an aggregate special distribution of $3,283 to stockholders of record as of January 30, 2015 ($0.07 per share).

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Schedule of Change in Earnout Liability for Acquisition of Certain Properties	The table below presents the change in the Company’s Earnout liability for the years ended December 31, 2015 and 2014. December 31, 2015 2014 Earnout liability-beginning of period $ 3,646 $ 723 Increases: Acquisitions 18,211 5,511 Amortization expense 83 167 Decreases: Earnout payments (3,095 ) (2,790 ) Other: Adjustments to acquisition related costs 26 35 Earnout liability – end of period $ 18,871 $ 3,646

Transactions with Related Par29

Transactions with Related Parties (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015, 2014 and 2013. Year ended December 31, Unpaid amounts as of 2015 2014 2013 December 31, 2015 December 31, 2014 General and administrative reimbursements (a) $ 1,367 $ 466 $ 268 $ 287 $ 139 Affiliate share purchase discounts (b) 28 150 369 — — Total general and administrative expenses $ 1,395 $ 616 $ 637 $ 287 $ 139 Acquisition related costs $ 1,388 $ 744 $ 86 $ 165 $ 157 Acquisition fees 9,580 3,465 458 6,010 Total acquisition costs and fees (c) $ 10,968 $ 4,209 $ 544 $ 6,175 $ 157 Real estate management fees $ 2,762 $ 631 $ 81 $ — $ — Construction management fees 135 15 — 80 — Leasing fees 40 — — 40 — Total real estate management related costs (d) $ 2,937 $ 646 $ 81 $ 120 $ — Offering costs (e) $ 41,180 $ 33,141 $ 5,785 $ 63 $ 210 Sponsor non-interest bearing advances (f) $ — $ — $ — $ — $ 1,630 Business management fees (g) $ 5,501 $ 773 $ 226 $ 1,950 $ 558 Sponsor contribution (h) $ 3,283 $ 640 $ — $ — $ — (a) The Business Manager and its related parties are entitled to reimbursement for certain general and administrative expenses of the Business Manager and its related parties relating to the Company’s administration. Such costs are included in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. (b) The Company established a discount stock purchase policy for related parties and related parties of the Business Manager that enabled the related parties to purchase shares of common stock at $9.00 per share in the Offering. The Company sold 28,129, 150,426 and 369,526 shares to related parties during the years ended December 31, 2015, 2014 and 2013, respectively. (c) The Company pays the Business Manager or its affiliates a fee equal to 1.5% of the “contract purchase price,” as defined, of each asset acquired. The Business Manager and its related parties are also reimbursed for acquisition and transaction related costs of the Business Manager and its related parties relating to the Company’s acquisition of real estate assets, regardless of whether the Company acquires the real estate assets. Such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. For the years ended December 31, 2015 and 2014, the Business Manager permanently waived acquisition fees of $2,510 and $2,262, respectively. (d) For each property that is managed by Inland National Real Estate Services, LLC or Inland Commercial Real Estate Services LLC (collectively, the “Real Estate Managers”), 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. Each 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 one of the Real Estate Managers 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 Managers 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 accompanying consolidated balance sheets. The Company also reimburses each 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 Managers and their affiliates except for the salaries, bonuses and benefits of persons who also serve as an executive officer of any of the Real Estate Managers. Real estate management fees and reimbursable expenses are included in property operating expenses in the accompanying consolidated statements of operations and comprehensive loss. (e) A related party of the Business Manager received selling commissions equal to 7.0% of the sale price for each share sold and a marketing contribution equal to 3.0% of the gross offering proceeds from shares sold in the Offering, the majority of which was re-allowed (paid) to third party soliciting dealers. The Company also reimbursed a related party of the Business Manager and the soliciting dealers for bona fide, out-of-pocket itemized and detailed due diligence expenses in amounts up to 0.5% of the gross offering proceeds. The expenses were reimbursed from amounts paid or re-allowed to these entities as a marketing contribution. The Company reimbursed the Sponsor, its affiliates and third parties for costs and other expenses of the Offering that they paid on the Company’s behalf, in an amount not to exceed 1.5% of the gross offering proceeds from shares sold in the “best efforts” Offering. The Company does not pay selling commissions or the marketing contribution or reimburse issuer costs in connection with shares of common stock issued through the DRP. Offering costs are offset against the stockholders’ equity accounts. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. (f) As of December 31, 2014, the Sponsor advanced $1,630 to pay offering and organizational costs, all of which has been repaid as of December 31, 2015. (g) The Company pays the Business Manager an annual business management fee equal to 0.65% of its “average invested assets,” as defined in the business management agreement, 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. For the year ended December 31, 2014, the Business Manager was entitled to a business management fee in the amount equal to $1,433, of which $433 was permanently waived. The Business Manager also permanently waived business management fees of $226 incurred for the year ended December 31, 2013 which was included as a reduction of due to related parties in the accompanying balance sheets as of December 31, 2014. No fees were waived for the year ended December 31, 2015. (h) During the years ended December 31, 2015 and 2014, the Sponsor contributed $3,283 and $640, respectively, to the Company. The Sponsor has not received, and will not receive, any additional shares of the Company’s common stock for making these contributions. There is no assurance that the Sponsor will continue to contribute any additional monies.

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Schedule of Future Minimum Lease Payments to be Received Under Operating Leases	Minimum lease payments to be received under operating leases including ground leases, as of December 31, 2015 Minimum Payments 2016 $ 83,080 2017 78,427 2018 71,229 2019 62,021 2020 55,550 Thereafter 278,524 Total $ 628,831

Quarterly Supplemental Financ31

Quarterly Supplemental Financial Information (Tables)	12 Months Ended
	Dec. 31, 2015
Notes To Financial Statements [Abstract]
Quarterly supplemental financial information - unaudited	The following represents the results of operations, for each quarterly period, during 2015 and 2014. 2015 Dec 31 Sept 30 Jun 30 Mar 31 Total income $ 26,826 $ 19,762 $ 18,282 $ 11,672 Net loss $ (9,051 ) $ (262 ) $ (3,500 ) $ (623 ) Net loss per common share, basic and diluted (1) $ (0.11 ) $ — $ (0.05 ) $ (0.01 ) Weighted average number of common shares outstanding, basic and diluted (1) 85,564,146 76,111,571 66,130,000 49,092,127 2014 Dec 31 Sept 30 Jun 30 Mar 31 Total income $ 7,659 $ 6,042 $ 3,511 $ 1,734 Net loss $ (612 ) $ (817 ) $ (2,363 ) $ (564 ) Net loss per common share, basic and diluted (1) $ (0.02 ) $ (0.03 ) $ (0.18 ) $ (0.06 ) Weighted average number of common shares outstanding, basic and diluted (1) 36,112,929 23,733,441 13,377,773 8,703,608 (1) Quarterly net loss per common share amounts may not total the annual amounts due to rounding and the changes in the number of weighted common shares outstanding.

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Schedule of Dividend Distributions	Distributions were paid monthly in arrears, as follows Distribution Month Month Distribution Paid Gross Amount of Distribution Paid Distribution Reinvested through DRP Shares Issued Net Cash Distribution December 2015 January 2016 $ 4,397 $ 2,362 248,629 $ 2,035 January 2016 February 2016 $ 4,393 $ 2,358 248,177 $ 2,036 February 2016 March 2016 $ 4,120 $ 2,204 232,019 $ 1,916
Financing for Purchased Properties	The Company entered into the following financings subsequent to December 31, 2015. Date Property Interest Rate (stated) Principal Amount Maturity Date 1/25/2016 Marketplace at El Paseo 2.95% $ 38,000 2/1/2021 1/28/2016 Milford Marketplace 4.02% $ 18,727 2/1/2026

Organization (Narrative) (Detai

Organization (Narrative) (Details)	Dec. 31, 2015ft²PropertyState
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of retail properties owned | Property	54
Square footage of real estate properties owned | ft²	6,025,330
Number of states in which company owns real estate properties | State	22
Weighted average physical occupancy rate of property portfolio	96.20%
Weighted average economic occupancy rate of property portfolio	97.20%

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Acquisitions Narrative) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)$ / ft²	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Acquired Finite Lived Intangible Assets [Line Items]
Depreciation expense	$ 21,319,000	$ 5,428,000	$ 776,000
Impairment charges	0	0	$ 0
Debt issuance cost classified as deferred costs, net	$ 4,400,000	$ 1,700,000
Fair Value, Inputs, Level 3 [Member] | Minimum [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Fair value inputs, market rents (price per square foot) | $ / ft²	14
Fair value inputs, probability of occupancy	0.00%
Fair value inputs, discount rate	6.50%
Fair Value, Inputs, Level 3 [Member] | Maximum [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Fair value inputs, market rents (price per square foot) | $ / ft²	42
Fair value inputs, probability of occupancy	100.00%
Fair value inputs, discount rate	8.25%

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Schedule of Estimated Useful Lives of Assets ) (Details)	12 Months Ended
	Dec. 31, 2015
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

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Fair Value of Financial Instruments) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of liabilities measured on recurring basis	$ (3,791)
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of liabilities measured on recurring basis	(3,791)
Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Swap Agreements [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of liabilities measured on recurring basis	$ (3,791)

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity [Line Items]
Common stock, shares authorized	1,460,000,000	1,460,000,000	1,460,000,000
Common stock shares issued excluding DRP	83,835,055	83,835,055
Proceeds from issuance of common stock excluding DRP		$ 834,399
Proceeds from distribution reinvestment plan	$ 2,362,000	20,828,000	$ 5,395,000	$ 481,000
Stock repurchase program, amount		$ 3,810,000	260,000	0
Repurchase of Shares Owned for One Year [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares	92.50%	92.50%
Repurchase of Shares Owned for Four Years [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares	100.00%	100.00%
Repurchase of Shares Owned upon Death and Qualifying Disability [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares	100.00%	100.00%
Minimum [Member]
Equity [Line Items]
Stock repurchase program, to be held		1 year
Maximum [Member]
Equity [Line Items]
Stock repurchase program shares issued in percentage		5.00%
DRP [Member]
Equity [Line Items]
Common stock, shares authorized	30,000,000	30,000,000
Price of each common share	$ 9.50	$ 9.50
Proceeds from distribution reinvestment plan		$ 20,828,000	$ 5,395,000	$ 481,000
Amended DRP [Member]
Equity [Line Items]
Common stock, shares authorized	25,000,000	25,000,000
Price of each common share	$ 9.50	$ 9.50
IPO [Member]
Equity [Line Items]
Common stock, shares authorized	150,000,000	150,000,000
Price of each common share	$ 10	$ 10

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Assumption of mortgage debt at acquisition									$ 58,026	$ 67,466
Proceeds from offering									422,959	345,554	$ 63,363
Proceeds from credit facility									100,000
Acquisition related costs incurred during the period									13,903	5,139	666
Total acquisition fees waived by business manager during period									2,510	2,262
Total income	$ 26,826	$ 19,762	$ 18,282	$ 11,672	$ 7,659	$ 6,042	$ 3,511	$ 1,734	76,542	18,946	2,825
Net income (loss)	$ (9,051)	$ (262)	$ (3,500)	$ (623)	$ (612)	$ (817)	$ (2,363)	$ (564)	(13,436)	(4,356)	$ (2,527)
Acquisition expense									13,178	4,871
2015 Acquisitions [Member]
Business Acquisition [Line Items]
Assumption of mortgage debt at acquisition									300,403
Proceeds from offering									398,900
Proceeds from credit facility									100,000
2014 Acquisitions [Member]
Business Acquisition [Line Items]
Assumption of mortgage debt at acquisition										161,997
Total Acquisitions [Member]
Business Acquisition [Line Items]
Total income									33,687	13,054
Net income (loss)									$ 5,640	$ 2,552

Acquisitions (Schedule of 2015

Acquisitions (Schedule of 2015 Acquisitions) (Details) $ in Thousands		Dec. 09, 2015USD ($)ft²	Mar. 31, 2015USD ($)ft²	Dec. 31, 2015USD ($)ft²	Dec. 31, 2014USD ($)ft²
Business Acquisition [Line Items]
Property acquisition, Square Footage				6,025,330
Shoppes at Lake Park [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Jan. 29, 2015
Property acquisition, Location				West Valley City, UT
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				52,997
Property acquisition, Purchase Price | $				$ 11,559
Plaza at Prairie Ridge [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Feb. 19, 2015
Property acquisition, Location				Pleasant Prairie, WI
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				9,035
Property acquisition, Purchase Price | $				$ 3,400
Green Tree Center [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Mar. 13, 2015
Property acquisition, Location				Katy, TX
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				147,621
Property acquisition, Purchase Price | $				$ 26,244
Eastside Junction [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Mar. 16, 2015
Property acquisition, Location				Athens, AL
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				79,700
Property acquisition, Purchase Price | $				$ 12,278
Fairgrounds Crossing [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Mar. 16, 2015
Property acquisition, Location				Hot Springs, AR
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				155,127
Property acquisition, Purchase Price | $				$ 29,197
Prattville Town Center [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Mar. 16, 2015
Property acquisition, Location				Prattville, AL
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				168,842
Property acquisition, Purchase Price | $				$ 33,329
Regal Court [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Mar. 16, 2015
Property acquisition, Location				Shreveport, LA
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				362,961
Property acquisition, Purchase Price | $				$ 50,364
Shops at Hawk Ridge [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Mar. 16, 2015
Property acquisition, Location				St. Louis, MO
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				75,951
Property acquisition, Purchase Price | $				$ 12,721
Walgreens Plaza [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Mar. 16, 2015
Property acquisition, Location				Jacksonville, NC
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				42,219
Property acquisition, Purchase Price | $				$ 13,663
Whispering Ridge [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Mar. 16, 2015
Property acquisition, Location				Omaha, NE
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				69,676
Property acquisition, Purchase Price | $				$ 15,803
Frisco Marketplace [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired	[1]			Mar. 31, 2015
Property acquisition, Location	[1]			Frisco, TX
Property acquisition, Property Type	[1]			Multi-Tenant Retail
Property acquisition, Square Footage	[1]			112,024
Property acquisition, Purchase Price | $	[1]			$ 11,040
White City [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Apr. 8, 2015
Property acquisition, Location				Shrewsbury, MA
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				257,080
Property acquisition, Purchase Price | $				$ 96,750
Treasure Valley [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired	[2]			Apr. 21, 2015
Property acquisition, Location	[2]			Nampa, ID
Property acquisition, Property Type	[2]			Multi-Tenant Retail
Property acquisition, Square Footage	[2]			133,292
Property acquisition, Purchase Price | $	[2]			$ 17,931
Yorkville Marketplace [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Apr. 28, 2015
Property acquisition, Location				Yorkville, IL
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				111,591
Property acquisition, Purchase Price | $				$ 24,500
Shoppes at Market Pointe [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				May 27, 2015
Property acquisition, Location				Papillion, NE
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				253,903
Property acquisition, Purchase Price | $				$ 27,200
2727 lowa Street [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Sep. 17, 2015
Property acquisition, Location				Lawrence, KS
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				84,981
Property acquisition, Purchase Price | $				$ 18,622
Settlers Ridge [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Oct. 1, 2015
Property acquisition, Location				Pittsburgh, PA
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				472,572
Property acquisition, Purchase Price | $				$ 139,054
Milford Marketplace [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Oct. 1, 2015
Property acquisition, Location				Milford, CT
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				112,257
Property acquisition, Purchase Price | $				$ 33,971
Marketplace at El Paseo [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Oct. 16, 2015
Property acquisition, Location				Fresno, CA
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				224,683
Property acquisition, Purchase Price | $				$ 70,000
Blossom Valley Plaza [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Oct. 19, 2015
Property acquisition, Location				Turlock, CA
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				111,558
Property acquisition, Purchase Price | $				$ 21,704
Village at Burlington Creek [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Oct. 22, 2015
Property acquisition, Location				Kansas City, MO
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				158,118
Property acquisition, Purchase Price | $				$ 35,366
Oquirrh Mountain Marketplace [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Oct. 29, 2015
Property acquisition, Location				South Jordan, UT
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				71,750
Property acquisition, Purchase Price | $				$ 22,092
Marketplace at Tech Center [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Dec. 24, 2015
Property acquisition, Location				Newport News, VA
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				210,584
Property acquisition, Purchase Price | $				$ 72,525
Total Acquisitions [Member]
Business Acquisition [Line Items]
Property acquisition, Square Footage				3,478,522	2,075,065
Property acquisition, Purchase Price | $				$ 799,313	$ 378,763
Frisco Marketplace [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Apr. 1, 2015
Property acquisition, Square Footage			4,481
Property acquisition, Purchase Price | $			$ 2,080
Treasure Valley TJ Maxx [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Dec. 9, 2015
Property acquisition, Square Footage		21,000
Property acquisition, Purchase Price | $		$ 2,731
[1]	Includes 4,481 square feet which was acquired on 4/1/15 for $2,080.
[2]	Includes 21,000 square feet which was acquired on 12/9/15 for $2,731.

Acquisitions (Schedule of 2014

Acquisitions (Schedule of 2014 Acquisitions) (Details) $ in Thousands		Dec. 29, 2015USD ($)ft²	Dec. 31, 2015USD ($)ft²	Dec. 31, 2014USD ($)ft²
Business Acquisition [Line Items]
Property acquisition, Square Footage			6,025,330
Park Avenue Shopping Center [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired	[1]			Feb. 21, 2014
Property acquisition, Location	[1]			Little Rock, AR
Property acquisition, Property Type	[1]			Multi-Tenant Retail
Property acquisition, Square Footage			7,986	69,381	[1]
Property acquisition, Purchase Price | $			$ 2,788	$ 23,368	[1]
North Hills Square [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Feb. 27, 2014
Property acquisition, Location				Coral Springs, FL
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				63,829
Property acquisition, Purchase Price | $				$ 11,050
Mansfield Pointe [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Apr. 8, 2014
Property acquisition, Location				Mansfield, TX
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				148,529
Property acquisition, Purchase Price | $				$ 28,100
MidTowne Shopping Center [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				May 13, 2014
Property acquisition, Location				Little Rock, AR
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				126,288
Property acquisition, Purchase Price | $				$ 41,450
Lakeside Crossing [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				May 23, 2014
Property acquisition, Location				Lynchburg, VA
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				62,706
Property acquisition, Purchase Price | $				$ 16,967
Dogwood Festival [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Jun. 27, 2014
Property acquisition, Location				Flowood, MS
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				187,610
Property acquisition, Purchase Price | $				$ 48,689
Pick N Save Center [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Jul. 11, 2014
Property acquisition, Location				West Bend, WI
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				86,800
Property acquisition, Purchase Price | $				$ 19,123
Harris Plaza [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Aug. 4, 2014
Property acquisition, Location				Layton, UT
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				123,890
Property acquisition, Purchase Price | $				$ 27,019
Dixie Valley [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Nov. 5, 2014
Property acquisition, Location				Louisville, KY
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				119,981
Property acquisition, Purchase Price | $				$ 12,220
Landing at Ocean Isle [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Nov. 21, 2014
Property acquisition, Location				Ocean Isle, NC
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				53,220
Property acquisition, Purchase Price | $				$ 10,895
Shoppes at Prairie Ridge [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Dec. 16, 2014
Property acquisition, Location				Pleasant Prairie, WI
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				232,606
Property acquisition, Purchase Price | $				$ 32,527
Harvest Square [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Dec. 16, 2014
Property acquisition, Location				Harvest, AL
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				70,590
Property acquisition, Purchase Price | $				$ 13,018
Heritage Square [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Dec. 16, 2014
Property acquisition, Location				Conyers, GA
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				22,385
Property acquisition, Purchase Price | $				$ 9,011
The Shoppes at Branson Hills [Member]
Business Acquisition [Line Items]
Business Acquired Dates.				Dec. NaN, 2014
Property acquisition, Location				Branson, MO
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				256,017
Property acquisition, Purchase Price | $				$ 42,803
Branson Hills Plaza [Member]
Business Acquisition [Line Items]
Business Acquired Dates.				Dec. NaN, 2014
Property acquisition, Location				Branson, MO
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				210,201
Property acquisition, Purchase Price | $				$ 9,667
Copps Grocery Store [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Dec. 16, 2014
Property acquisition, Location				Stevens Point, WI
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				69,911
Property acquisition, Purchase Price | $				$ 15,544
Fox Point Plaza [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Dec. 16, 2014
Property acquisition, Location				Neenah, WI
Property acquisition, Property Type				Multi-Tenant Retail
Property acquisition, Square Footage				171,121
Property acquisition, Purchase Price | $				$ 17,312
Total Acquisitions [Member]
Business Acquisition [Line Items]
Property acquisition, Square Footage			3,478,522	2,075,065
Property acquisition, Purchase Price | $			$ 799,313	$ 378,763
Park Avenue Shopping Center, Additional Property [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired				Dec. 29, 2015
Property acquisition, Square Footage		7,986
Property acquisition, Purchase Price | $		$ 2,788
[1]	Excludes 7,986 square feet which was acquired on 12/29/15 for $2,788.

Acquisitions (Schedule of Major

Acquisitions (Schedule of Major Assets Acquired and Liabilities Assumed) (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2015USD ($)ft²	Dec. 31, 2014USD ($)ft²
Business Acquisition [Line Items]
Land		$ 163,832	$ 70,828
Building and improvements		580,061	285,326
Acquired lease intangible assets, net		128,586	48,331
Acquired intangible liabilities, net		(49,528)	(18,386)
Fair value adjustment related to the assumption of mortgages payable		(3,430)	(1,825)
Deferred investment property acquisition obligations		(18,211)	(5,511)
Total	[1]	$ 801,310	378,763
Property acquisition, Square Footage | ft²		6,025,330
Park Avenue Shopping Center [Member]
Business Acquisition [Line Items]
Property acquisition, Purchase Price		$ 2,788	$ 23,368	[2]
Property acquisition, Square Footage | ft²		7,986	69,381	[2]
Property acquisition, other assets		$ 791
[1]	Total for the year ended December 31, 2015 includes $2,788 for 7,986 square feet acquired at Park Avenue Shopping Center and excludes other assets of $791.
[2]	Excludes 7,986 square feet which was acquired on 12/29/15 for $2,788.

Acquisitions (Schedule of Pro F

Acquisitions (Schedule of Pro Forma Financial Information for Acquisitions) (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Pro forma total income		$ 106,658	$ 98,174
Pro forma net income		$ (2,674)	$ 5,451
Earnings per share	[1]	$ (0.03)	$ 0.06
[1]	Based on number of common shares outstanding as of December 31, 2015.

Schedule of Intangible Assets a

Schedule of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Intangible assets:
Accumulated amortization	$ (18,236)	$ (2,732)
Acquired lease intangibles, net	164,773	51,691
Intangible liabilities:
Above market ground lease	5,169
Accumulated amortization	(3,504)	(494)
Acquired below market lease intangibles, net	65,194	18,676
Acquired in-place lease value [Member]
Intangible assets:
Acquired intangible assets	146,910	48,848
Acquired lease intangibles, net	131,420
Acquired above market lease value [Member]
Intangible assets:
Acquired intangible assets	36,099	5,575
Acquired lease intangibles, net	33,353
Acquired below market lease value [Member]
Intangible liabilities:
Acquired intangible assets	$ 63,529	$ 19,170

Acquired Intangible Assets an44

Acquired Intangible Assets and Liabilities - Narrative (Details)	12 Months Ended
	Dec. 31, 2015
Acquired in-place lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	10 years
Acquired above market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	13 years
Acquired below market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	18 years
Above market ground lease [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	55 years

Schedule of Amortization Pertai

Schedule of Amortization Pertaining to Acquired in Place Lease Value, Above Market Ground Lease and Market Lease Values (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ 652	$ 59	$ 24
Acquired in-place lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as amortization expense	13,170	2,083	228
Above market ground lease [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a reduction to property operating expense	24
Acquired above market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	(2,334)	(411)
Acquired below market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ 2,986	$ 470	$ 24

Schedule of Estimated Amortizat

Schedule of Estimated Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Future amortization for acquired in-place and above market lease assets:
Acquired lease intangibles, net	$ 164,773	$ 51,691
Future amortization for below market lease liabilities:
2,016	(4,540)
2,017	(4,387)
2,018	(4,205)
2,019	(4,022)
2,020	(3,789)
Thereafter	(39,105)
Total	(60,048)
Future amortization for above market ground lease liabilities:
2,016	(94)
2,017	(94)
2,018	(94)
2,019	(94)
2,020	(94)
Thereafter	(4,676)
Total	(5,146)
Acquired in-place lease value [Member]
Future amortization for acquired in-place and above market lease assets:
2,016	20,121
2,017	19,181
2,018	17,241
2,019	15,430
2,020	12,720
Thereafter	46,727
Acquired lease intangibles, net	131,420
Acquired above market lease value [Member]
Future amortization for acquired in-place and above market lease assets:
2,016	3,946
2,017	3,742
2,018	3,187
2,019	2,751
2,020	2,470
Thereafter	17,257
Acquired lease intangibles, net	$ 33,353

Debt and Derivative Instrumen47

Debt and Derivative Instruments (Schedule of Mortgages and Credit Facility Payable) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 484,995	$ 184,737
Credit facility payable	100,000
Unamortized debt premiums	3,971	1,297
Total debt	$ 588,966	$ 186,034
Mortgages Payable, Weighted Average Interest Rate	3.77%	3.02%
Credit Facilities Payable, Weighted Average Interest Rate	1.65%
Fixed rate mortgages payable [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 162,692	$ 28,279
Mortgages Payable, Weighted Average Interest Rate	4.37%	5.06%
Variable rate mortgages payable with swap agreements [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 238,617	$ 128,876
Mortgages Payable, Weighted Average Interest Rate	3.64%	2.79%
Variable rate mortgages payable [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 83,686	$ 27,582
Mortgages Payable, Weighted Average Interest Rate	2.99%	2.01%

Debt and Derivative Instrumen48

Debt and Derivative Instruments (Narrative) (Details) - USD ($)	1 Months Ended			12 Months Ended
	Feb. 29, 2016	Jan. 31, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Indebtedness includes effects of interest rate swap, weighted average interest rate				3.41%
Carrying value of debt				$ 588,966,000	$ 186,034,000
Estimated fair value of debt				587,437,000	$ 185,260,000
Line of credit facility, outstanding balance				100,000,000
Amount expected to be reclassified from accumulated OCL into income in the next twelve months				$ 2,650,000
Fixed Rate Mortgages Payable [Member]
Debt Instrument [Line Items]
Weighted Average Years to Maturity				5 years
Mortgages payable, covenant compliance				The Company was current on all of the payments and in compliance with all financial covenants.
KeyBanc Capital Markets, Inc. [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 100,000,000
Line of credit accordion feature to increase available borrowings			$ 400,000,000
Credit facility, maturity date			Sep. 30, 2019
Extension fee percentage			0.15%
Line of credit facility, outstanding balance			$ 100,000,000
Credit facility, interest rate				1.65%
Line of credit facility, interest rate description				Monthly interest-only payments at a rate of one month LIBOR plus a margin ranging from 1.40% to 2.25% on the outstanding balance of the Credit Facility depending on leverage levels or the alternative base rate plus a margin ranging from 0.40% to 1.25% of the outstanding balance of the Credit Facility depending on leverage levels
Line of credit facility, commitment fee description				Quarterly unused fees based on an annual rate of 0.15% or 0.25%, depending on the undrawn amount
Line of credit facility, unused capacity, commitment fee percentage, scenario one				0.15%
Line of credit facility, unused capacity, commitment fee percentage, scenario two				0.25%
Line of credit facility, covenant compliance				The Company is in compliance with all financial covenants related to the Credit Facility.
KeyBanc Capital Markets, Inc. [Member] | Revolving Credit Facility [Member] | Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Variable rate basis spread				1.40%
KeyBanc Capital Markets, Inc. [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Variable rate basis spread				0.40%
KeyBanc Capital Markets, Inc. [Member] | Revolving Credit Facility [Member] | Maximum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Variable rate basis spread				2.25%
KeyBanc Capital Markets, Inc. [Member] | Revolving Credit Facility [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Variable rate basis spread				1.25%
KeyBanc Capital Markets, Inc. [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 110,000,000
Line of credit facility, outstanding balance	$ 15,000,000
Line of credit facility increase in aggregate commitments		$ 10,000,000
Line of credit facility, principal payment	$ 85,000,000

Debt and Derivative Instrumen49

Debt and Derivative Instruments (Schedule of Principal Payments and Maturities of Company's Debt) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
2,016	$ 58,467
2,017	6,503
2,018	15,465
2,019	142,840
2,020	100,898
Thereafter	260,822
Total	584,995
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
2,020	100,000
Total	100,000
Scheduled Principal Payments [Member]
Debt Instrument [Line Items]
2,016	108
2,017	239
2,018	205
2,019	215
2,020	898
Thereafter	3,108
Total	4,773
Maturities of Mortgage Loans [Member]
Debt Instrument [Line Items]
2,016	58,359
2,017	6,264
2,018	15,260
2,019	142,625
Thereafter	257,714
Total	$ 480,222

Debt and Derivative Instrumen50

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Derivative [Line Items]
Derivative instrument, notional amount	$ 238,617
Fair value of derivative liabilities measured on recurring basis	$ (3,791)
Interest Rate Swap [Member] | Interest Rate Swap One [Member]
Derivative [Line Items]
Derivative instrument, date entered	Mar. 28, 2014
Derivative instrument, effective date	Mar. 1, 2015
Derivative instrument, maturity date	Mar. 28, 2019
Derivative instrument, pay fixed interest rate	2.22%	[1]
Derivative instrument, notional amount	$ 5,525
Fair value of derivative liabilities measured on recurring basis	$ (167)
Interest Rate Swap [Member] | Interest Rate Swap Two [Member]
Derivative [Line Items]
Derivative instrument, date entered	May 8, 2014
Derivative instrument, effective date	May 5, 2015
Derivative instrument, maturity date	May 7, 2019
Derivative instrument, pay fixed interest rate	2.10%	[1]
Derivative instrument, notional amount	$ 14,200
Fair value of derivative liabilities measured on recurring basis	$ (379)
Interest Rate Swap [Member] | Interest Rate Swap Three [Member]
Derivative [Line Items]
Derivative instrument, date entered	May 23, 2014
Derivative instrument, effective date	May 1, 2015
Derivative instrument, maturity date	May 22, 2019
Derivative instrument, pay fixed interest rate	2.00%	[1]
Derivative instrument, notional amount	$ 8,484
Fair value of derivative liabilities measured on recurring basis	$ (199)
Interest Rate Swap [Member] | Interest Rate Swap Four [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jun. 6, 2014
Derivative instrument, effective date	Jun. 1, 2015
Derivative instrument, maturity date	May 8, 2019
Derivative instrument, pay fixed interest rate	2.15%	[1]
Derivative instrument, notional amount	$ 11,684
Fair value of derivative liabilities measured on recurring basis	$ (332)
Interest Rate Swap [Member] | Interest Rate Swap Five [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jun. 26, 2014
Derivative instrument, effective date	Jul. 5, 2015
Derivative instrument, maturity date	Jul. 5, 2019
Derivative instrument, pay fixed interest rate	2.11%	[1]
Derivative instrument, notional amount	$ 20,725
Fair value of derivative liabilities measured on recurring basis	$ (568)
Interest Rate Swap [Member] | Interest Rate Swap Six [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jun. 27, 2014
Derivative instrument, effective date	Jul. 1, 2014
Derivative instrument, maturity date	Jul. 1, 2019
Derivative instrument, pay fixed interest rate	1.85%	[1]
Derivative instrument, notional amount	$ 24,352
Fair value of derivative liabilities measured on recurring basis	$ (446)
Interest Rate Swap [Member] | Interest Rate Swap Seven [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jul. 31, 2014
Derivative instrument, effective date	Jul. 31, 2014
Derivative instrument, maturity date	Jul. 31, 2019
Derivative instrument, pay fixed interest rate	1.94%	[1]
Derivative instrument, notional amount	$ 9,561
Fair value of derivative liabilities measured on recurring basis	$ (206)
Interest Rate Swap [Member] | Interest Rate Swap Eight [Member]
Derivative [Line Items]
Derivative instrument, date entered	Dec. 16, 2014
Derivative instrument, effective date	Dec. 16, 2014
Derivative instrument, maturity date	Jun. 22, 2016
Derivative instrument, pay fixed interest rate	1.97%	[1]
Derivative instrument, notional amount	$ 13,359
Fair value of derivative liabilities measured on recurring basis	$ (92)
Interest Rate Swap [Member] | Interest Rate Swap Nine [Member]
Derivative [Line Items]
Derivative instrument, date entered	Dec. 16, 2014
Derivative instrument, effective date	Dec. 16, 2014
Derivative instrument, maturity date	Oct. 21, 2016
Derivative instrument, pay fixed interest rate	1.50%	[1]
Derivative instrument, notional amount	$ 10,837
Fair value of derivative liabilities measured on recurring basis	$ (77)
Interest Rate Swap [Member] | Interest Rate Swap Ten [Member]
Derivative [Line Items]
Derivative instrument, date entered	Dec. 16, 2014
Derivative instrument, effective date	Dec. 16, 2014
Derivative instrument, maturity date	May 9, 2017
Derivative instrument, pay fixed interest rate	1.13%	[1]
Derivative instrument, notional amount	$ 10,150
Fair value of derivative liabilities measured on recurring basis	$ (46)
Interest Rate Swap [Member] | Interest Rate Swap Eleven [Member]
Derivative [Line Items]
Derivative instrument, date entered	Feb. 11, 2015
Derivative instrument, effective date	Mar. 2, 2015
Derivative instrument, maturity date	Mar. 1, 2022
Derivative instrument, pay fixed interest rate	2.02%	[1]
Derivative instrument, notional amount	$ 6,114
Fair value of derivative liabilities measured on recurring basis	$ (127)
Interest Rate Swap [Member] | Interest Rate Swap Twelve [Member]
Derivative [Line Items]
Derivative instrument, date entered	Apr. 7, 2015
Derivative instrument, effective date	Apr. 7, 2015
Derivative instrument, maturity date	Apr. 7, 2022
Derivative instrument, pay fixed interest rate	1.74%	[1]
Derivative instrument, notional amount	$ 49,400
Fair value of derivative liabilities measured on recurring basis	$ (209)
Interest Rate Swap [Member] | Interest Rate Swap Thirteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jul. 8, 2015
Derivative instrument, effective date	Aug. 1, 2015
Derivative instrument, maturity date	May 22, 2019
Derivative instrument, pay fixed interest rate	1.43%	[1]
Derivative instrument, notional amount	$ 1,426
Fair value of derivative liabilities measured on recurring basis	$ (7)
Interest Rate Swap [Member] | Interest Rate Swap Fourteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Sep. 17, 2015
Derivative instrument, effective date	Sep. 17, 2015
Derivative instrument, maturity date	Sep. 17, 2022
Derivative instrument, pay fixed interest rate	1.90%	[1]
Derivative instrument, notional amount	$ 13,700
Fair value of derivative liabilities measured on recurring basis	$ (143)
Interest Rate Swap [Member] | Interest Rate Swap Fifteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Oct. 2, 2015
Derivative instrument, effective date	Nov. 1, 2015
Derivative instrument, maturity date	Nov. 1, 2015
Derivative instrument, pay fixed interest rate	1.79%	[1]
Derivative instrument, notional amount	$ 13,100
Fair value of derivative liabilities measured on recurring basis	$ (41)
Interest Rate Swap [Member] | Interest Rate Swap Sixteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Dec. 23, 2015
Derivative instrument, effective date	Dec. 23, 2015
Derivative instrument, maturity date	Jan. 2, 2026
Derivative instrument, pay fixed interest rate	2.30%	[1]
Derivative instrument, notional amount	$ 26,000
Fair value of derivative liabilities measured on recurring basis	$ (752)
[1]	Receive floating rate index based upon one month LIBOR. At December 31, 2015, the one month LIBOR equaled 0.43%.

Debt and Derivative Instrumen51

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2015
Derivative [Line Items]
Derivative instrument, receive floating rate index	one month LIBOR
LIBOR [Member]
Derivative [Line Items]
One month floating rate	0.43%

Debt and Derivative Instrumen52

Debt and Derivative Instruments (Schedule of Cash Flow Hedges and Classification on Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow hedges - interest rate swap agreements	$ 3,791	$ 2,089

Debt and Derivative Instrumen53

Debt and Derivative Instruments (Derivatives on Consolidated Statements of Operations and Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss recognized in OCL on derivative (effective portion)	$ (4,612)	$ (1,810)
Amount of loss reclassified from accumulated OCL into income (effective portion)	2,546	282
Amount of loss recognized in income on derivative (ineffective portion)	365
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss recognized in income on derivative (ineffective portion)	$ (1)	$ (33)

Distributions (Narrative) (Deta

Distributions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Distributions [Line Items]
Amount per share of distributions	$ 0.001643836	$ 0.001643836	$ 0.001643836
Taxable income (loss)	$ 12,720	$ 3,283	$ (1,397)
Minimum [Member]
Distributions [Line Items]
Percentage of adjusted REIT taxable income require to distribute among shareholders	90.00%

Distributions (Schedule of Dist

Distributions (Schedule of Distributions Paid and Declared) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Distributions [Abstract]
Distributions paid		$ 42,537	$ 10,597	$ 998
Distributions declared	$ 4,397	$ 44,908	$ 12,318	$ 1,289

Distributions - Schedule of Tax

Distributions - Schedule of Taxability of Distributions on Common Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 19, 2015	Dec. 31, 2015	[1]	Dec. 31, 2014	Dec. 31, 2013
Distributions [Abstract]
Ordinary income		$ 0.20		$ 0.19
Nontaxable return of capital		$ 0.47		$ 0.41	$ 0.60
Special distribution	$ 3,283
Special distribution, per share	$ 0.07
[1]	On February 19, 2015, the Company paid an aggregate special distribution of $3,283 to stockholders of record as of January 30, 2015 ($0.07 per share).

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Dilutive common share equivalents outstanding	0	0	0

Commitments and Contingencies58

Commitments and Contingencies (Narrative) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Commitments And Contingencies Disclosure [Abstract]
The maximum potential earnout payment for acquisitions made during period	$ 23,243

Commitments and Contingencies59

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Commitments And Contingencies Disclosure [Abstract]
Earnout liability-beginning of period	$ 3,646	$ 723
Increases:
Acquisitions	18,211	5,511
Amortization expense	83	167
Decreases:
Earnout payments	(3,095)	(2,790)
Other:
Adjustments to acquisition related costs	26	35
Earnout liability – end of period	$ 18,871	$ 3,646

Segment Reporting (Details)

Segment Reporting (Details) - Segment	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting [Abstract]
Number of reportable segments	1	1	1

Transactions with Related Par61

Transactions with Related Parties (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]
Number of common stock shares owned in related party	1,000	1,000
Value of common stock shares owned in related party	$ 1,000	$ 1,000
Price per share of common stock sold to related parties during period	$ 9	$ 9	$ 9
Common stock shares sold to related party during period	28,129	150,426	369,526
Total acquisition fees waived by business manager during period	$ 2,510,000	$ 2,262,000
Amount of advances received from Sponsor, repaid during period	$ 1,630,000
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%
Business management fee before waiver		1,433,000
Business management fees waived during period	$ 0	433,000	$ 226,000
Expenses incurred with related party	$ 3,283,000	$ 640,000

Transactions with Related Par62

Transactions with Related Parties (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Expenses incurred with related party		$ 3,283	$ 640
Due to related parties		8,595	2,694
General and Administrative Reimbursements [Member]
Related Party Transaction [Line Items]
General and administrative expenses incurred with related party	[1]	1,367	466	$ 268
Due to related parties	[1]	287	139
Affiliate Share Purchase Discounts [Member]
Related Party Transaction [Line Items]
General and administrative expenses incurred with related party	[2]	28	150	369
Total General and Administrative Expenses [Member]
Related Party Transaction [Line Items]
General and administrative expenses incurred with related party		1,395	616	637
Due to related parties		287	139
Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[3]	1,388	744	86
Acquisition related costs		165	157
Acquisition Fees [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[3]	9,580	3,465	458
Acquisition related costs		6,010
Total Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[3]	10,968	4,209	544
Acquisition related costs	[3]	6,175	157
Real Estate Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		2,762	631	81
Construction Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		135	15
Due to related parties		80
Leasing fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		40
Due to related parties		40
Real Estate Management Costs
Related Party Transaction [Line Items]
Real estate management related costs with related party	[4]	2,937	646	81
Due to related parties	[4]	120
Offering Costs [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[5]	41,180	33,141	5,785
Due to related parties	[5]	63	210
Sponsor Non-interest Bearing Advances [Member]
Related Party Transaction [Line Items]
Due to related parties	[6]		1,630
Business Management Fee [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[7]	5,501	773	$ 226
Due to related parties	[7]	1,950	558
Sponsor Contribution [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[8]	$ 3,283	$ 640
[1]	The Business Manager and its related parties are entitled to reimbursement for certain general and administrative expenses of the Business Manager and its related parties relating to the Company’s administration. Such costs are included in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets.
[2]	The Company established a discount stock purchase policy for related parties and related parties of the Business Manager that enabled the related parties to purchase shares of common stock at $9.00 per share in the Offering. The Company sold 28,129, 150,426 and 369,526 shares to related parties during the years ended December 31, 2015, 2014 and 2013, respectively.
[3]	The Company pays the Business Manager or its affiliates a fee equal to 1.5% of the “contract purchase price,” as defined, of each asset acquired.  The Business Manager and its related parties are also reimbursed for acquisition and transaction related costs of the Business Manager and its related parties relating to the Company’s acquisition of real estate assets, regardless of whether the Company acquires the real estate assets.  Such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss.  Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets.  For the years ended December 31, 2015 and 2014, the Business Manager permanently waived acquisition fees of $2,510 and $2,262, respectively.
[4]	For each property that is managed by Inland National Real Estate Services, LLC or Inland Commercial Real Estate Services LLC (collectively, the “Real Estate Managers”), 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. Each 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 one of the Real Estate Managers 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 Managers 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 accompanying consolidated balance sheets. The Company also reimburses each 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 Managers and their affiliates except for the salaries, bonuses and benefits of persons who also serve as an executive officer of any of the Real Estate Managers. Real estate management fees and reimbursable expenses are included in property operating expenses in the accompanying consolidated statements of operations and comprehensive loss.
[5]	A related party of the Business Manager received selling commissions equal to 7.0% of the sale price for each share sold and a marketing contribution equal to 3.0% of the gross offering proceeds from shares sold in the Offering, the majority of which was re-allowed (paid) to third party soliciting dealers. The Company also reimbursed a related party of the Business Manager and the soliciting dealers for bona fide, out-of-pocket itemized and detailed due diligence expenses in amounts up to 0.5% of the gross offering proceeds. The expenses were reimbursed from amounts paid or re-allowed to these entities as a marketing contribution.  The Company reimbursed the Sponsor, its affiliates and third parties for costs and other expenses of the Offering that they paid on the Company’s behalf, in an amount not to exceed 1.5% of the gross offering proceeds from shares sold in the “best efforts” Offering. The Company does not pay selling commissions or the marketing contribution or reimburse issuer costs in connection with shares of common stock issued through the DRP. Offering costs are offset against the stockholders’ equity accounts. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets.
[6]	As of December 31, 2014, the Sponsor advanced $1,630 to pay offering and organizational costs, all of which has been repaid as of December 31, 2015.
[7]	The Company pays the Business Manager an annual business management fee equal to 0.65% of its “average invested assets,” as defined in the business management agreement, 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. For the year ended December 31, 2014, the Business Manager was entitled to a business management fee in the amount equal to $1,433, of which $433 was permanently waived. The Business Manager also permanently waived business management fees of $226 incurred for the year ended December 31, 2013 which was included as a reduction of due to related parties in the accompanying balance sheets as of December 31, 2014. No fees were waived for the year ended December 31, 2015.
[8]	During the years ended December 31, 2015 and 2014, the Sponsor contributed $3,283 and $640, respectively, to the Company. The Sponsor has not received, and will not receive, any additional shares of the Company’s common stock for making these contributions. There is no assurance that the Sponsor will continue to contribute any additional monies.

Operating Leases (Details)

Operating Leases (Details) $ in Thousands	Dec. 31, 2015USD ($)
Leases [Abstract]
2,016	$ 83,080
2,017	78,427
2,018	71,229
2,019	62,021
2,020	55,550
Thereafter	278,524
Total	$ 628,831

Operating Leases (Narrative) (D

Operating Leases (Narrative) (Details)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Remaining lease terms range description	from less than one year to 21 years

Quarterly Supplemental Financ65

Quarterly Supplemental Financial Information - Schedule of Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Total income	$ 26,826		$ 19,762		$ 18,282		$ 11,672		$ 7,659		$ 6,042		$ 3,511		$ 1,734		$ 76,542	$ 18,946	$ 2,825
Net loss	$ (9,051)		$ (262)		$ (3,500)		$ (623)		$ (612)		$ (817)		$ (2,363)		$ (564)		$ (13,436)	$ (4,356)	$ (2,527)
Net loss per common share, basic and diluted	$ (0.11)	[1]			$ (0.05)	[1]	$ (0.01)	[1]	$ (0.02)	[1]	$ (0.03)	[1]	$ (0.18)	[1]	$ (0.06)	[1]	$ (0.19)	$ (0.21)	$ (1.18)
Weighted average number of common shares outstanding, basic and diluted	85,564,146	[1]	76,111,571	[1]	66,130,000	[1]	49,092,127	[1]	36,112,929	[1]	23,733,441	[1]	13,377,773	[1]	8,703,608	[1]	69,343,253	20,565,940	2,147,947
[1]	Quarterly net loss per common share amounts may not total the annual amounts due to rounding and the changes in the number of weighted common shares outstanding.

Subsequent Events (Distribution

Subsequent Events (Distributions Narrative) (Details) - $ / shares	4 Months Ended	12 Months Ended
	Apr. 30, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsequent Event [Line Items]
Amount per share of distributions		$ 0.001643836	$ 0.001643836	$ 0.001643836
Scenario, Forecast [Member]
Subsequent Event [Line Items]
Amount per share of distributions	$ 0.001639344
Annualized dividend per share	$ 0.60
Annualized dividend rate	6.00%
Purchase price per share	$ 10
Minimum [Member]
Subsequent Event [Line Items]
Dividends payable, record date		Jan. 1, 2016
Maximum [Member]
Subsequent Event [Line Items]
Dividends payable, record date		Apr. 30, 2016

Subsequent Events (Schedule of

Subsequent Events (Schedule of Dividend Distributions) (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	Feb. 29, 2016	Jan. 31, 2016	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsequent Event [Line Items]
Month Distribution Paid			2016-01	2016-01
Gross Amount of Distribution Paid			$ 4,397	$ 44,908	$ 12,318	$ 1,289
Proceeds from distribution reinvestment plan			$ 2,362	$ 20,828	$ 5,395	$ 481
Shares Issued			248,629
Net Cash Distribution			$ 2,035
Subsequent Event [Member]
Subsequent Event [Line Items]
Month Distribution Paid	2016-03	2016-02
Gross Amount of Distribution Paid	$ 4,120	$ 4,393
Proceeds from distribution reinvestment plan	$ 2,204	$ 2,358
Shares Issued	232,019	248,177
Net Cash Distribution	$ 1,916	$ 2,036

Subsequent Events (Financing fo

Subsequent Events (Financing for Purchased Properties) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Marketplace at El Paseo [Member]
Subsequent Event [Line Items]
Date	Jan. 25, 2016
Property	Marketplace at El Paseo
Interest Rate (stated)	2.95%
Principal Amount	$ 38,000
Maturity Date	Feb. 1, 2021
Milford Marketplace [Member]
Subsequent Event [Line Items]
Date	Jan. 28, 2016
Property	Milford Marketplace
Interest Rate (stated)	4.02%
Principal Amount	$ 18,727
Maturity Date	Feb. 1, 2026

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - USD ($)	1 Months Ended
	Feb. 29, 2016	Jan. 31, 2016	Dec. 31, 2015	Sep. 30, 2015
Subsequent Event [Line Items]
Line of credit facility, outstanding balance			$ 100,000,000
Subsequent Event [Member] | Oquirrh Mountain Marketplace [Member]
Subsequent Event [Line Items]
Payment of short-term loan		$ 11,926,000
KeyBanc Capital Markets, Inc. [Member] | Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Aggregate commitment, credit facility				$ 100,000,000
Line of credit facility, outstanding balance				$ 100,000,000
KeyBanc Capital Markets, Inc. [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Aggregate commitment, credit facility		110,000,000
Line of credit facility increase in aggregate commitments		$ 10,000,000
Line of credit facility, principal payment	$ 85,000,000
Line of credit facility, outstanding balance	$ 15,000,000

Schedule III Real Estate and 70

Schedule III Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 484,995
Initial cost, Land	[1]	247,082
Initial cost, Buildings and Improvements	[1]	908,595
Cost Capitalized Subsequent to Acquisitions		5,760
Gross amount carried at end of period, Land	[2],[3]	247,082
Gross amount carried at end of period, Building and Improvements	[2],[3]	914,355
Gross amount carried at end of period, Total		1,161,437	[2],[3]	$ 414,463	$ 58,327	$ 29,214
Accumulated Depreciation		(27,545)	[3],[4]	$ (6,236)	$ (808)	$ (32)
2727 lowa Street [Member] | Lawrence, KS [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1],[5]	2,154
Initial cost, Buildings and Improvements	[1],[5]	16,079
Cost Capitalized Subsequent to Acquisitions	[5]	(37)
Gross amount carried at end of period, Land	[2],[3],[5]	2,154
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	16,042
Gross amount carried at end of period, Total	[2],[3],[5]	18,196
Accumulated Depreciation	[3],[4],[5]	$ (145)
Date Acquired	[5]	2,015
2727 lowa Street [Member] | Lawrence, KS [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed	[5]	2,014
Depreciable Lives	[5]	15 years
2727 lowa Street [Member] | Lawrence, KS [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed	[5]	2,015
Depreciable Lives	[5]	30 years
Blossom Valley Plaza [Member] | Turlock, CA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1]	$ 9,515
Initial cost, Buildings and Improvements	[1]	11,142
Gross amount carried at end of period, Land	[2],[3]	9,515
Gross amount carried at end of period, Building and Improvements	[2],[3]	11,142
Gross amount carried at end of period, Total	[2],[3]	20,657
Accumulated Depreciation	[3],[4]	$ (70)
Date Constructed		1,988
Date Acquired		2,015
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]
Encumbrance		$ 2,955
Initial cost, Land	[1]	3,787
Initial cost, Buildings and Improvements	[1]	6,039
Gross amount carried at end of period, Land	[2],[3]	3,787
Gross amount carried at end of period, Building and Improvements	[2],[3]	6,039
Gross amount carried at end of period, Total	[2],[3]	9,826
Accumulated Depreciation	[3],[4]	$ (231)
Date Constructed		2,005
Date Acquired		2,014
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
Dixie Valley [Member] | Louisville, KY [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 6,798
Initial cost, Land	[1]	2,807
Initial cost, Buildings and Improvements	[1]	9,053
Cost Capitalized Subsequent to Acquisitions		454
Gross amount carried at end of period, Land	[2],[3]	2,807
Gross amount carried at end of period, Building and Improvements	[2],[3]	9,507
Gross amount carried at end of period, Total	[2],[3]	12,314
Accumulated Depreciation	[3],[4]	$ (405)
Date Constructed		1,988
Date Acquired		2,014
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]
Encumbrance		$ 24,352
Initial cost, Land	[1]	4,500
Initial cost, Buildings and Improvements	[1]	41,865
Cost Capitalized Subsequent to Acquisitions		142
Gross amount carried at end of period, Land	[2],[3]	4,500
Gross amount carried at end of period, Building and Improvements	[2],[3]	42,007
Gross amount carried at end of period, Total	[2],[3]	46,507
Accumulated Depreciation	[3],[4]	$ (2,263)
Date Constructed		2,002
Date Acquired		2,014
Dogwood Festival [Member] | Flowood, MO [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dogwood Festival [Member] | Flowood, MO [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | Brooks, GA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 592
Initial cost, Land	[1]	159
Initial cost, Buildings and Improvements	[1]	857
Gross amount carried at end of period, Land	[2],[3]	159
Gross amount carried at end of period, Building and Improvements	[2],[3]	857
Gross amount carried at end of period, Total	[2],[3]	1,016
Accumulated Depreciation	[3],[4]	$ (96)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | Brooks, GA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		5 years
Dollar General [Member] | Brooks, GA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | Daleville, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 482
Initial cost, Land	[1]	69
Initial cost, Buildings and Improvements	[1]	761
Gross amount carried at end of period, Land	[2],[3]	69
Gross amount carried at end of period, Building and Improvements	[2],[3]	761
Gross amount carried at end of period, Total	[2],[3]	830
Accumulated Depreciation	[3],[4]	$ (85)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | Daleville, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General [Member] | Daleville, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | East Brewton, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 521
Initial cost, Land	[1]	148
Initial cost, Buildings and Improvements	[1]	780
Gross amount carried at end of period, Land	[2],[3]	148
Gross amount carried at end of period, Building and Improvements	[2],[3]	780
Gross amount carried at end of period, Total	[2],[3]	928
Accumulated Depreciation	[3],[4]	$ (92)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | East Brewton, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General [Member] | East Brewton, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | Madisonville, TN [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 695
Initial cost, Land	[1]	273
Initial cost, Buildings and Improvements	[1]	939
Gross amount carried at end of period, Land	[2],[3]	273
Gross amount carried at end of period, Building and Improvements	[2],[3]	939
Gross amount carried at end of period, Total	[2],[3]	1,212
Accumulated Depreciation	[3],[4]	$ (111)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | Madisonville, TN [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General [Member] | Madisonville, TN [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | Maryville, TN [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 631
Initial cost, Land	[1]	249
Initial cost, Buildings and Improvements	[1]	841
Gross amount carried at end of period, Land	[2],[3]	249
Gross amount carried at end of period, Building and Improvements	[2],[3]	841
Gross amount carried at end of period, Total	[2],[3]	1,090
Accumulated Depreciation	[3],[4]	$ (94)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | Maryville, TN [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General [Member] | Maryville, TN [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | Mobile, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 601
Initial cost, Land	[1]	208
Initial cost, Buildings and Improvements	[1]	836
Gross amount carried at end of period, Land	[2],[3]	208
Gross amount carried at end of period, Building and Improvements	[2],[3]	836
Gross amount carried at end of period, Total	[2],[3]	1,044
Accumulated Depreciation	[3],[4]	$ (94)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | Mobile, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General [Member] | Mobile, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | Newport, TN [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 586
Initial cost, Land	[1]	200
Initial cost, Buildings and Improvements	[1]	818
Gross amount carried at end of period, Land	[2],[3]	200
Gross amount carried at end of period, Building and Improvements	[2],[3]	818
Gross amount carried at end of period, Total	[2],[3]	1,018
Accumulated Depreciation	[3],[4]	$ (91)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | Newport, TN [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General [Member] | Newport, TN [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | Robertsdale, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 847
Initial cost, Land	[1]	324
Initial cost, Buildings and Improvements	[1]	1,178
Gross amount carried at end of period, Land	[2],[3]	324
Gross amount carried at end of period, Building and Improvements	[2],[3]	1,178
Gross amount carried at end of period, Total	[2],[3]	1,502
Accumulated Depreciation	[3],[4]	$ (139)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | Robertsdale, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General [Member] | Robertsdale, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | Valley, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 531
Initial cost, Land	[1]	119
Initial cost, Buildings and Improvements	[1]	805
Gross amount carried at end of period, Land	[2],[3]	119
Gross amount carried at end of period, Building and Improvements	[2],[3]	805
Gross amount carried at end of period, Total	[2],[3]	924
Accumulated Depreciation	[3],[4]	$ (90)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | Valley, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General [Member] | Valley, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General [Member] | Wetumpka, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 692
Initial cost, Land	[1]	272
Initial cost, Buildings and Improvements	[1]	939
Gross amount carried at end of period, Land	[2],[3]	272
Gross amount carried at end of period, Building and Improvements	[2],[3]	939
Gross amount carried at end of period, Total	[2],[3]	1,211
Accumulated Depreciation	[3],[4]	$ (111)
Date Constructed		2,012
Date Acquired		2,012
Dollar General [Member] | Wetumpka, AL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General [Member] | Wetumpka, AL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General (Hamilton) [Member] | LaGrange, GA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 621
Initial cost, Land	[1]	100
Initial cost, Buildings and Improvements	[1]	986
Gross amount carried at end of period, Land	[2],[3]	100
Gross amount carried at end of period, Building and Improvements	[2],[3]	986
Gross amount carried at end of period, Total	[2],[3]	1,086
Accumulated Depreciation	[3],[4]	$ (110)
Date Constructed		2,012
Date Acquired		2,012
Dollar General (Hamilton) [Member] | LaGrange, GA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General (Hamilton) [Member] | LaGrange, GA [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		30 years
Dollar General (Wares Cross) [Member] | LaGrange, GA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 681
Initial cost, Land	[1]	248
Initial cost, Buildings and Improvements	[1]	943
Gross amount carried at end of period, Land	[2],[3]	248
Gross amount carried at end of period, Building and Improvements	[2],[3]	943
Gross amount carried at end of period, Total	[2],[3]	1,191
Accumulated Depreciation	[3],[4]	$ (106)
Date Constructed		2,012
Date Acquired		2,012
Dollar General (Wares Cross) [Member] | LaGrange, GA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Dollar General (Wares Cross) [Member] | LaGrange, GA [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]
Encumbrance		$ 6,270
Initial cost, Land	[1]	2,411
Initial cost, Buildings and Improvements	[1]	8,393
Gross amount carried at end of period, Land	[2],[3]	2,411
Gross amount carried at end of period, Building and Improvements	[2],[3]	8,393
Gross amount carried at end of period, Total	[2],[3]	10,804
Accumulated Depreciation	[3],[4]	$ (244)
Date Constructed		2,008
Date Acquired		2,015
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]
Encumbrance		$ 13,453
Initial cost, Land	[1]	6,069
Initial cost, Buildings and Improvements	[1]	22,637
Gross amount carried at end of period, Land	[2],[3]	6,069
Gross amount carried at end of period, Building and Improvements	[2],[3]	22,637
Gross amount carried at end of period, Total	[2],[3]	28,706
Accumulated Depreciation	[3],[4]	$ (615)
Date Constructed		2,008
Date Acquired		2,015
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]
Encumbrance		$ 10,837
Initial cost, Land	[1]	3,518
Initial cost, Buildings and Improvements	[1]	12,680
Gross amount carried at end of period, Land	[2],[3]	3,518
Gross amount carried at end of period, Building and Improvements	[2],[3]	12,680
Gross amount carried at end of period, Total	[2],[3]	16,198
Accumulated Depreciation	[3],[4]	$ (458)
Date Constructed		2,008
Date Acquired		2,014
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],[5]	$ 6,618
Initial cost, Buildings and Improvements	[1],[5]	3,315
Gross amount carried at end of period, Land	[2],[3],[5]	6,618
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	3,315
Gross amount carried at end of period, Total	[2],[3],[5]	9,933
Accumulated Depreciation	[3],[4],[5]	$ (111)
Date Constructed	[5]	2,002
Date Acquired	[5]	2,015
Frisco Marketplace [Member] | Frisco, TX [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	15 years
Frisco Marketplace [Member] | Frisco, TX [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	30 years
Green Tree Shopping Center [Member] | Katy, TX [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 13,100
Initial cost, Land	[1]	7,218
Initial cost, Buildings and Improvements	[1]	17,846
Cost Capitalized Subsequent to Acquisitions		(209)
Gross amount carried at end of period, Land	[2],[3]	7,218
Gross amount carried at end of period, Building and Improvements	[2],[3]	17,637
Gross amount carried at end of period, Total	[2],[3]	24,855
Accumulated Depreciation	[3],[4]	$ (474)
Date Constructed		1,997
Date Acquired		2,015
Green Tree Shopping Center [Member] | Katy, TX [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 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],[5]	$ 6,500
Initial cost, Buildings and Improvements	[1],[5]	19,403
Cost Capitalized Subsequent to Acquisitions	[5]	108
Gross amount carried at end of period, Land	[2],[3],[5]	6,500
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	19,511
Gross amount carried at end of period, Total	[2],[3],[5]	26,011
Accumulated Depreciation	[3],[4],[5]	$ (1,003)
Date Acquired	[5]	2,014
Harris Plaza [Member] | Layton, UT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed	[5]	2,001
Depreciable Lives	[5]	15 years
Harris Plaza [Member] | Layton, UT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed	[5]	2,008
Depreciable Lives	[5]	30 years
Harvest Square [Member] | Harvest, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 6,800
Initial cost, Land	[1]	2,186
Initial cost, Buildings and Improvements	[1]	9,330
Gross amount carried at end of period, Land	[2],[3]	2,186
Gross amount carried at end of period, Building and Improvements	[2],[3]	9,330
Gross amount carried at end of period, Total	[2],[3]	11,516
Accumulated Depreciation	[3],[4]	$ (361)
Date Constructed		2,008
Date Acquired		2,014
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]
Encumbrance		$ 4,460
Initial cost, Land	[1]	2,028
Initial cost, Buildings and Improvements	[1]	5,538
Cost Capitalized Subsequent to Acquisitions		16
Gross amount carried at end of period, Land	[2],[3]	2,028
Gross amount carried at end of period, Building and Improvements	[2],[3]	5,554
Gross amount carried at end of period, Total	[2],[3]	7,582
Accumulated Depreciation	[3],[4]	$ (202)
Date Constructed		2,010
Date Acquired		2,014
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],[5]	$ 1,440
Initial cost, Buildings and Improvements	[1],[5]	11,799
Gross amount carried at end of period, Land	[2],[3],[5]	1,440
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	11,799
Gross amount carried at end of period, Total	[2],[3],[5]	13,239
Accumulated Depreciation	[3],[4],[5]	$ (435)
Date Constructed	[5]	2,012
Date Acquired	[5]	2,014
Kroger - Copps Grocery Store [Member] | Stevens Point, WI [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	15 years
Kroger - Copps Grocery Store [Member] | Stevens Point, WI [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	30 years
Kroger - Pick n Save Center [Member] | West Bend, WI [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 9,561
Initial cost, Land	[1]	3,150
Initial cost, Buildings and Improvements	[1]	14,283
Gross amount carried at end of period, Land	[2],[3]	3,150
Gross amount carried at end of period, Building and Improvements	[2],[3]	14,283
Gross amount carried at end of period, Total	[2],[3]	17,433
Accumulated Depreciation	[3],[4]	$ (752)
Date Constructed		2,011
Date Acquired		2,014
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]
Encumbrance		$ 9,910
Initial cost, Land	[1]	1,460
Initial cost, Buildings and Improvements	[1]	16,999
Gross amount carried at end of period, Land	[2],[3]	1,460
Gross amount carried at end of period, Building and Improvements	[2],[3]	16,999
Gross amount carried at end of period, Total	[2],[3]	18,459
Accumulated Depreciation	[3],[4]	$ (979)
Date Constructed		2,013
Date Acquired		2,014
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],[5]	$ 3,053
Initial cost, Buildings and Improvements	[1],[5]	7,081
Cost Capitalized Subsequent to Acquisitions	[5]	39
Gross amount carried at end of period, Land	[2],[3],[5]	3,053
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	7,120
Gross amount carried at end of period, Total	[2],[3],[5]	10,173
Accumulated Depreciation	[3],[4],[5]	$ (314)
Date Constructed	[5]	2,009
Date Acquired	[5]	2,014
Landing at Ocean Isle Beach [Member] | Ocean Isle, NC [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	15 years
Landing at Ocean Isle Beach [Member] | Ocean Isle, NC [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	30 years
Mansfield Pointe [Member] | Mansfield, TX [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 14,200
Initial cost, Land	[1]	5,350
Initial cost, Buildings and Improvements	[1]	20,002
Gross amount carried at end of period, Land	[2],[3]	5,350
Gross amount carried at end of period, Building and Improvements	[2],[3]	20,002
Gross amount carried at end of period, Total	[2],[3]	25,352
Accumulated Depreciation	[3],[4]	$ (1,300)
Date Constructed		2,008
Date Acquired		2,014
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
Initial cost, Buildings and Improvements	[1]	46,971
Gross amount carried at end of period, Land	[2],[3]	16,390
Gross amount carried at end of period, Building and Improvements	[2],[3]	46,971
Gross amount carried at end of period, Total	[2],[3]	63,361
Accumulated Depreciation	[3],[4]	$ (281)
Date Constructed		2,014
Date Acquired		2,015
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]
Encumbrance		$ 43,500
Initial cost, Land	[1]	10,684
Initial cost, Buildings and Improvements	[1]	68,580
Gross amount carried at end of period, Land	[2],[3]	10,684
Gross amount carried at end of period, Building and Improvements	[2],[3]	68,580
Gross amount carried at end of period, Total	[2],[3]	$ 79,264
Date Constructed		2,015
Date Acquired		2,015
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]
Encumbrance		$ 20,725
Initial cost, Land	[1]	8,810
Initial cost, Buildings and Improvements	[1]	29,699
Cost Capitalized Subsequent to Acquisitions		111
Gross amount carried at end of period, Land	[2],[3]	8,810
Gross amount carried at end of period, Building and Improvements	[2],[3]	29,810
Gross amount carried at end of period, Total	[2],[3]	38,620
Accumulated Depreciation	[3],[4]	$ (1,839)
Date Acquired		2,014
MidTowne Shopping Center [Member] | Little Rock, AR [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,005
Depreciable Lives		5 years
MidTowne Shopping Center [Member] | Little Rock, AR [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,008
Depreciable Lives		30 years
Milford Marketplace [Member] | Milford, CT [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Buildings and Improvements	[1]	$ 35,867
Gross amount carried at end of period, Building and Improvements	[2],[3]	35,867
Gross amount carried at end of period, Total	[2],[3]	35,867
Accumulated Depreciation	[3],[4]	$ (320)
Date Constructed		2,007
Date Acquired		2,015
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
Newington Fair [Member] | Newington, CT [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1],[5]	$ 7,833
Initial cost, Buildings and Improvements	[1],[5]	8,329
Cost Capitalized Subsequent to Acquisitions	[5]	331
Gross amount carried at end of period, Land	[2],[3],[5]	7,833
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	8,660
Gross amount carried at end of period, Total	[2],[3],[5]	16,493
Accumulated Depreciation	[3],[4],[5]	$ (1,175)
Date Acquired	[5]	2,012
Newington Fair [Member] | Newington, CT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed	[5]	1,994
Depreciable Lives	[5]	15 years
Newington Fair [Member] | Newington, CT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed	[5]	2,009
Depreciable Lives	[5]	30 years
North Hills Square [Member] | Coral Springs, FL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 5,525
Initial cost, Land	[1]	4,800
Initial cost, Buildings and Improvements	[1]	5,493
Gross amount carried at end of period, Land	[2],[3]	4,800
Gross amount carried at end of period, Building and Improvements	[2],[3]	5,493
Gross amount carried at end of period, Total	[2],[3]	10,293
Accumulated Depreciation	[3],[4]	$ (374)
Date Constructed		1,997
Date Acquired		2,014
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
Oquirrh Mountain Marketplace [Member] | Jordan, UT [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 11,920
Initial cost, Land	[1]	4,254
Initial cost, Buildings and Improvements	[1]	14,467
Gross amount carried at end of period, Land	[2],[3]	4,254
Gross amount carried at end of period, Building and Improvements	[2],[3]	14,467
Gross amount carried at end of period, Total	[2],[3]	18,721
Accumulated Depreciation	[3],[4]	$ (84)
Date Acquired		2,015
Oquirrh Mountain Marketplace [Member] | Jordan, UT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,014
Depreciable Lives		15 years
Oquirrh Mountain Marketplace [Member] | Jordan, UT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,015
Depreciable Lives		30 years
Park Avenue Shopping Center [Member] | Little Rock, AR [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 11,684
Initial cost, Land	[1]	5,500
Initial cost, Buildings and Improvements	[1]	16,365
Cost Capitalized Subsequent to Acquisitions		2,383
Gross amount carried at end of period, Land	[2],[3]	5,500
Gross amount carried at end of period, Building and Improvements	[2],[3]	18,748
Gross amount carried at end of period, Total	[2],[3]	24,248
Accumulated Depreciation	[3],[4]	$ (1,109)
Date Constructed		2,012
Date Acquired		2,014
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
Plaza at Prairie Ridge [Member] | Pleasant Prairie, WI [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1],[5]	$ 618
Initial cost, Buildings and Improvements	[1],[5]	2,305
Gross amount carried at end of period, Land	[2],[3],[5]	618
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	2,305
Gross amount carried at end of period, Total	[2],[3],[5]	2,923
Accumulated Depreciation	[3],[4],[5]	$ (69)
Date Constructed	[5]	2,008
Date Acquired	[5]	2,015
Plaza at Prairie Ridge [Member] | Pleasant Prairie, WI [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	15 years
Plaza at Prairie Ridge [Member] | Pleasant Prairie, WI [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	30 years
Prattville Town Center [Member] | Prattville, AL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 15,930
Initial cost, Land	[1]	5,336
Initial cost, Buildings and Improvements	[1]	27,648
Cost Capitalized Subsequent to Acquisitions		24
Gross amount carried at end of period, Land	[2],[3]	5,336
Gross amount carried at end of period, Building and Improvements	[2],[3]	27,672
Gross amount carried at end of period, Total	[2],[3]	33,008
Accumulated Depreciation	[3],[4]	$ (763)
Date Constructed		2,007
Date Acquired		2,015
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
Initial cost, Land	[1]	5,873
Initial cost, Buildings and Improvements	[1]	41,181
Cost Capitalized Subsequent to Acquisitions		352
Gross amount carried at end of period, Land	[2],[3]	5,873
Gross amount carried at end of period, Building and Improvements	[2],[3]	41,533
Gross amount carried at end of period, Total	[2],[3]	47,406
Accumulated Depreciation	[3],[4]	$ (1,109)
Date Constructed		2,008
Date Acquired		2,015
Regal Court [Member] | Shreveport, LA [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Regal Court [Member] | Shreveport, LA [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
Initial cost, Land	[1]	25,961
Initial cost, Buildings and Improvements	[1]	98,157
Gross amount carried at end of period, Land	[2],[3]	25,961
Gross amount carried at end of period, Building and Improvements	[2],[3]	98,157
Gross amount carried at end of period, Total	[2],[3]	124,118
Accumulated Depreciation	[3],[4]	$ (921)
Date Constructed		2,011
Date Acquired		2,015
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],[5]	$ 2,285
Initial cost, Buildings and Improvements	[1],[5]	8,527
Gross amount carried at end of period, Land	[2],[3],[5]	2,285
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	8,527
Gross amount carried at end of period, Total	[2],[3],[5]	10,812
Accumulated Depreciation	[3],[4],[5]	$ (284)
Date Constructed	[5]	2,008
Date Acquired	[5]	2,015
Shoppes at Lake Park [Member] | West Valley City. UT [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	15 years
Shoppes at Lake Park [Member] | West Valley City. UT [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	30 years
Shoppes at Market Pointe [Member] | Papillion, NE [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 13,700
Initial cost, Land	[1]	12,499
Initial cost, Buildings and Improvements	[1]	8,388
Cost Capitalized Subsequent to Acquisitions		333
Gross amount carried at end of period, Land	[2],[3]	12,499
Gross amount carried at end of period, Building and Improvements	[2],[3]	8,721
Gross amount carried at end of period, Total	[2],[3]	21,220
Accumulated Depreciation	[3],[4]	$ (245)
Date Acquired		2,015
Shoppes at Market Pointe [Member] | Papillion, NE [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,006
Depreciable Lives		15 years
Shoppes at Market Pointe [Member] | Papillion, NE [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,007
Depreciable Lives		30 years
Shoppes at Prairie Ridge [Member] | Pleasant Prairie, WI [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 15,591
Initial cost, Land	[1]	7,521
Initial cost, Buildings and Improvements	[1]	22,468
Cost Capitalized Subsequent to Acquisitions		39
Gross amount carried at end of period, Land	[2],[3]	7,521
Gross amount carried at end of period, Building and Improvements	[2],[3]	22,507
Gross amount carried at end of period, Total	[2],[3]	30,028
Accumulated Depreciation	[3],[4]	$ (804)
Date Constructed		2,009
Date Acquired		2,014
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]
Encumbrance		$ 26,678
Initial cost, Land	[1]	4,418
Initial cost, Buildings and Improvements	[1]	37,229
Cost Capitalized Subsequent to Acquisitions		121
Gross amount carried at end of period, Land	[2],[3]	4,418
Gross amount carried at end of period, Building and Improvements	[2],[3]	37,350
Gross amount carried at end of period, Total	[2],[3]	41,768
Accumulated Depreciation	[3],[4]	$ (1,328)
Date Constructed		2,005
Date Acquired		2,014
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],[5]	$ 1,328
Initial cost, Buildings and Improvements	[1],[5]	10,341
Cost Capitalized Subsequent to Acquisitions	[5]	228
Gross amount carried at end of period, Land	[2],[3],[5]	1,328
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	10,569
Gross amount carried at end of period, Total	[2],[3],[5]	11,897
Accumulated Depreciation	[3],[4],[5]	$ (278)
Date Constructed	[5]	2,009
Date Acquired	[5]	2,015
Shops at Hawk Ridge [Member] | St. Louis, MO [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	5 years
Shops at Hawk Ridge [Member] | St. Louis, MO [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	30 years
Treasure Valley [Member] | Nampa, ID [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1],[5]	$ 3,133
Initial cost, Buildings and Improvements	[1],[5]	12,000
Gross amount carried at end of period, Land	[2],[3],[5]	3,133
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	12,000
Gross amount carried at end of period, Total	[2],[3],[5]	15,133
Accumulated Depreciation	[3],[4],[5]	$ (256)
Date Constructed	[5]	2,014
Date Acquired	[5]	2,015
Treasure Valley [Member] | Nampa, ID [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	15 years
Treasure Valley [Member] | Nampa, ID [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	30 years
Village at Burlington Creek [Member] | Kansas City, MO [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 17,723
Initial cost, Land	[1]	10,791
Initial cost, Buildings and Improvements	[1]	19,384
Cost Capitalized Subsequent to Acquisitions		57
Gross amount carried at end of period, Land	[2],[3]	10,791
Gross amount carried at end of period, Building and Improvements	[2],[3]	19,441
Gross amount carried at end of period, Total	[2],[3]	30,232
Accumulated Depreciation	[3],[4]	$ (121)
Date Acquired		2,015
Village at Burlington Creek [Member] | Kansas City, MO [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,007
Depreciable Lives		15 years
Village at Burlington Creek [Member] | Kansas City, MO [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,015
Depreciable Lives		30 years
Walgreens Plaza [Member] | Jacksonville, NC [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 4,650
Initial cost, Land	[1]	2,624
Initial cost, Buildings and Improvements	[1]	9,683
Cost Capitalized Subsequent to Acquisitions		162
Gross amount carried at end of period, Land	[2],[3]	2,624
Gross amount carried at end of period, Building and Improvements	[2],[3]	9,845
Gross amount carried at end of period, Total	[2],[3]	12,469
Accumulated Depreciation	[3],[4]	$ (271)
Date Constructed		2,011
Date Acquired		2,015
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]
Encumbrance		$ 15,260
Initial cost, Land	[1]	2,220
Initial cost, Buildings and Improvements	[1]	26,577
Gross amount carried at end of period, Land	[2],[3]	2,220
Gross amount carried at end of period, Building and Improvements	[2],[3]	26,577
Gross amount carried at end of period, Total	[2],[3]	28,797
Accumulated Depreciation	[3],[4]	$ (1,870)
Date Acquired		2,013
Wedgewood Commons [Member] | Olive Branch, MS [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,009
Depreciable Lives		15 years
Wedgewood Commons [Member] | Olive Branch, MS [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed		2,013
Depreciable Lives		30 years
Whispering Ridge [Member] | Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1],[5]	$ 4,121
Initial cost, Buildings and Improvements	[1],[5]	10,418
Gross amount carried at end of period, Land	[2],[3],[5]	4,121
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	10,418
Gross amount carried at end of period, Total	[2],[3],[5]	14,539
Accumulated Depreciation	[3],[4],[5]	$ (255)
Date Constructed	[5]	2,007
Date Acquired	[5]	2,015
Whispering Ridge [Member] | Omaha, NE [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	15 years
Whispering Ridge [Member] | Omaha, NE [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives	[5]	30 years
White City [Member] | Shrewsbury, MA [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrance		$ 49,400
Initial cost, Land	[1]	18,960
Initial cost, Buildings and Improvements	[1]	70,423
Cost Capitalized Subsequent to Acquisitions		1,106
Gross amount carried at end of period, Land	[2],[3]	18,960
Gross amount carried at end of period, Building and Improvements	[2],[3]	71,529
Gross amount carried at end of period, Total	[2],[3]	90,489
Accumulated Depreciation	[3],[4]	$ (1,862)
Date Constructed		2,013
Date Acquired		2,015
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
Yorkville Marketplace [Member] | Yorkville, IL [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost, Land	[1],[5]	$ 4,990
Initial cost, Buildings and Improvements	[1],[5]	13,928
Gross amount carried at end of period, Land	[2],[3],[5]	4,990
Gross amount carried at end of period, Building and Improvements	[2],[3],[5]	13,928
Gross amount carried at end of period, Total	[2],[3],[5]	18,918
Accumulated Depreciation	[3],[4],[5]	$ (346)
Date Acquired	[5]	2,015
Yorkville Marketplace [Member] | Yorkville, IL [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed	[5]	2,002
Depreciable Lives	[5]	15 years
Yorkville Marketplace [Member] | Yorkville, IL [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date Constructed	[5]	2,007
Depreciable Lives	[5]	30 years
[1]	The initial cost to the Company represents the original purchase price of the property.
[2]	Reconciliation of real estate owned:
[3]	The aggregate cost of real estate owned at December 31, 2015 and 2014 for federal income tax purposes was approximately $1,271,000 and $450,600, respectively (unaudited).
[4]	Reconciliation of accumulated depreciation:
[5]	These properties serve as security for our Credit Facility.

Schedule III Real Estate and 71

Schedule III Real Estate and Accumulated Depreciation (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of real estate owned for federal income tax purpose	$ 1,271,000	$ 450,600

Schedule III Real Estate and 72

Schedule III Real Estate and Accumulated Depreciation - Reconciliation of Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Balance at January 1,	$ 414,463		$ 58,327	$ 29,214
Acquisitions	743,893		356,154	28,797
Improvements, net of master lease	3,081		(18)	316
Balance at December 31,	$ 1,161,437	[1],[2]	$ 414,463	$ 58,327
[1]	Reconciliation of real estate owned:
[2]	The aggregate cost of real estate owned at December 31, 2015 and 2014 for federal income tax purposes was approximately $1,271,000 and $450,600, respectively (unaudited).

Schedule III Real Estate and 73

Schedule III Real Estate and Accumulated Depreciation - Reconciliation of Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Balance at January 1,	$ 6,236		$ 808	$ 32
Depreciation expense	21,309		5,428	776
Balance at December 31,	$ 27,545	[1],[2]	$ 6,236	$ 808
[1]	Reconciliation of accumulated depreciation:
[2]	The aggregate cost of real estate owned at December 31, 2015 and 2014 for federal income tax purposes was approximately $1,271,000 and $450,600, respectively (unaudited).