Cole Office & Industrial REIT 10-K 30 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Mar. 25, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	Cole Office & Industrial REIT (CCIT II), Inc.
Entity Central Index Key	1572758
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		26,524,946
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$75

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investment in real estate assets:
Land	$50,549	$0
Buildings and improvements, less accumulated depreciation of $4,574 and $0, respectively	523,705	0
Acquired intangible lease assets, less accumulated amortization of $1,726 and $0, respectively	74,272	0
Total investment in real estate assets, net	648,526	0
Cash and cash equivalents	11,141	138
Rents and tenant receivables	3,421	0
Prepaid expenses and other assets	301	0
Deferred financing costs, less accumulated amortization of $602 and $0, respectively	4,439	1
Total assets	667,828	139
LIABILITIES & STOCKHOLDERS’ EQUITY
Credit facility and notes payable	400,916	0
Line of credit with affiliates	30,000	0
Accounts payable and accrued expenses	2,548	39
Due to affiliates	23,086	0
Acquired below market lease intangibles, less accumulated amortization of $88 and $0, respectively	8,222	0
Distributions payable	1,314	0
Deferred rental income and other liabilities	1,427	0
Total liabilities	467,513	39
Commitments and contingencies
Redeemable common stock	2,816	0
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value; 490,000,000 shares authorized, 24,650,094 and 20,000 shares issued and outstanding	246	0
Capital in excess of par value	216,491	200
Accumulated distributions in excess of earnings	-19,238	-100
Total stockholders’ equity	197,499	100
Total liabilities and stockholders’ equity	$667,828	$139

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Accumulated depreciation of building and improvements	$4,574	$0
Accumulated amortization of acquired intangible lease assets	1,726	0
Accumulated amortization of deferred financing costs	602	0
Accumulated amortization of acquired below market lease intangible	$88	$0
Preferred Stock, par value (in usd per share)	$0.01	$0
Preferred stock, shares authorized	10,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized (in shares)	490,000,000	490,000,000
Common stock, shares issued (in shares)	24,650,094	20,000
Common stock, shares outstanding	24,650,094	20,000

Consolidated_Statement_of_Oper

Consolidated Statement of Operations (USD $)	10 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2014
Income Statement [Abstract]
Rental and other property income	$0	$15,781
Tenant reimbursement income	0	2,065
Total revenue	0	17,846
Expenses:
General and administrative expenses	100	1,325
Property operating expenses	0	2,381
Advisory fees and expenses	0	1,638
Acquisition related expenses	0	14,726
Depreciation	0	4,574
Amortization	0	1,726
Total operating expenses	100	26,370
Operating loss	-100	-8,524
Interest and other income	0	1
Interest expense	0	-4,193
Total other expense	0	-4,192
Net loss	($100)	($12,716)
Weighted average number of common shares outstanding:
Basic and diluted (in shares)	18,576	10,174,511
Net loss per common share:
Basic and diluted (in dollars per share)	($5.38)	($1.25)

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholder's Equity (USD $)	Total	Common Stock	Capital in Excess of Par Value	Accumulated Distributions in Excess of Earnings
In Thousands, except Share data, unless otherwise specified
Balance at Feb. 25, 2013		$0
Balance, shares at Feb. 25, 2013		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		20,000
Issuance of common stock		200
Balance at Feb. 26, 2013	0	0	0	0
Balance, shares at Feb. 26, 2013		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		20,000
Issuance of common stock	200	0	200
Net loss	-100			-100
Balance at Dec. 31, 2013	100	0	200	-100
Balance, shares at Dec. 31, 2013	20,000	20,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		24,631,770
Issuance of common stock	244,906	246	244,660
Distributions to investors	-6,422			-6,422
Commissions on stock sales and related dealer manager fees	-20,638		-20,638
Other offering costs	-4,898		-4,898
Redemptions of common stock (in shares)		-1,676
Redemptions of common stock	-17	-17	-17
Changes in redeemable common stock	-2,816		-2,816
Net loss	-12,716			-12,716
Balance at Dec. 31, 2014	$197,499	$246	$216,491	($19,238)
Balance, shares at Dec. 31, 2014	24,650,094	24,650,094

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	10 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2014
Cash flows from operating activities:
Net loss	($100)	($12,716)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	0	4,574
Amortization of intangible lease assets and below market lease intangibles, net	0	1,638
Amortization of deferred financing costs	0	602
Changes in assets and liabilities:
Rents and tenant receivables	0	-3,421
Prepaid expenses and other assets	0	-251
Accounts payable and accrued expenses	39	2,509
Deferred rental income and other liabilities	0	1,427
Due to affiliates	0	4,734
Net cash used in operating activities	-61	-904
Cash flows from investing activities:
Investment in real estate assets	0	-628,164
Escrowed funds for acquisition of real estate investments	0	-60,378
Release of escrowed funds for acquisition of real estate investments	0	60,378
Net cash used in investing activities	0	-628,164
Cash flows from financing activities:
Proceeds from issuance of common stock	200	242,073
Offering costs on issuance of common stock	0	-25,536
Redemptions of common stock	0	-17
Proceeds from credit facility and notes payable	0	462,831
Repayment of credit facility and notes payable	0	-61,915
Proceeds from line of credit with affiliates	0	94,800
Repayment of line of credit with affiliates	0	-64,800
Distributions to investors	0	-2,275
Deferred financing costs paid	-1	-5,040
Payment of loan deposit	0	-401
Refund of loan deposit	0	-351
Net cash provided by financing activities	199	640,071
Net increase in cash and cash equivalents	138	11,003
Cash and cash equivalents, beginning of period	0	138
Cash and cash equivalents, end of period	138	11,141
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Distributions payable	0	1,314
Escrow deposit due to affiliate on acquired real estate assets	0	18,352
Common stock issued through distribution reinvestment plan	0	2,833
Supplemental Cash Flow Disclosures:
Interest paid	$0	$3,031

Organization_and_Business

Organization and Business	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	ORGANIZATION AND BUSINESS
	Cole Office & Industrial REIT (CCIT II), Inc. (the “Company,” “we,” “our” or “us”) is a Maryland corporation that was formed on February 26, 2013, our date of inception, that intends to elect and qualify as a real estate investment trust (“REIT”) for federal income tax purposes. We are the sole general partner of, and own, directly or indirectly, 100% of the partnership interest in Cole Corporate Income Operating Partnership II, LP, a Delaware limited partnership (“CCI II OP”). We are externally managed by Cole Corporate Income Advisors II, LLC, a Delaware limited liability company (“CCI II Advisors”), which was, prior to the ARCP Merger (as defined below), indirectly owned by Cole Real Estate Investments, Inc. (“Cole”, formerly known as Cole Credit Property Trust III, Inc.) as a result of Cole acquiring Cole Holdings Corporation (“CHC”) on April 5, 2013 pursuant to a transaction whereby CHC merged with and into CREInvestments, LLC (“CREI”), a wholly-owned subsidiary of Cole. On February 7, 2014, American Realty Capital Properties, Inc. (“ARCP”) acquired Cole pursuant to a transaction whereby Cole merged with and into Clark Acquisition, LLC, a wholly owned subsidiary of ARCP (“Merger Sub”), with Merger Sub surviving as a wholly owned subsidiary of ARCP (the “ARCP Merger”). ARCP is a self-managed publicly traded Maryland corporation listed on The NASDAQ Global Select Market, focused on acquiring and owning single tenant freestanding commercial properties subject to net leases with high credit quality tenants. As a result of the ARCP Merger, ARCP indirectly owns and/or controls our external advisor, CCI II Advisors, our dealer manager, Cole Capital Corporation (“CCC”), our property manager, CREI Advisors, LLC (“CREI Advisors”), and our sponsor, Cole Capital®, and such entities are expected to continue to serve in their respective capacities to the Company, as discussed in Note 8 to these consolidated financial statements in this Annual Report on Form 10-K.
	Our sponsor, Cole Capital, which is comprised of a group of affiliated entities, including CCI II Advisors, has sponsored various real estate investment programs. CCI II Advisors, pursuant to an advisory agreement with us, is responsible for managing our affairs on a day-to-day basis and for identifying and making acquisitions and investments on our behalf. Pursuant to the advisory agreement, CCI II Advisors has fiduciary obligations to us and our stockholders. Our charter provides that our independent directors are responsible for reviewing the performance of CCI II Advisors and determining whether the compensation paid to CCI II Advisors and its affiliates is reasonable. The advisory agreement with CCI II Advisors is for a one-year term and is reconsidered on an annual basis by our board of directors.
	Pursuant to a registration statement on Form S-11 filed with the Securities and Exchange Commission (“SEC”) under the Securities Act of 1933, as amended (“Securities Act”) (Registration No. 333-187470) and declared effective by the SEC on September 17, 2013, we commenced our initial public offering on a “best efforts” basis of up to a maximum of 250.0 million shares of our common stock at a price of $10.00 per share, and up to 50.0 million additional shares pursuant to a distribution reinvestment plan (the “DRIP”) under which our stockholders may elect to have distributions reinvested in additional shares at a price of $9.50 per share (collectively, the “Offering”).
	We were initially capitalized on February 26, 2013 when CREI acquired 20,000 shares of common stock for $200,000. On January 10, 2014, CREI deposited $2.5 million for the purchase of shares of common stock in the Offering into escrow. As a result, we satisfied the conditions of our escrow agreement and on January 13, 2014, we broke escrow and issued the initial 275,000 shares of common stock in the Offering, resulting in gross proceeds of approximately $2.5 million and commenced principal operations. On February 7, 2014, the ownership of the shares held by CREI was transferred to ARC Properties Operating Partnership, L.P. (“ARCP OP”). Pursuant to our charter, ARCP OP is prohibited from selling the 20,000 shares of our common stock that represents the initial investment in us for so long as Cole Capital remains our sponsor; provided, however, that ARCP OP may transfer ownership of all or a portion of these 20,000 shares of our common stock to other affiliates of our sponsor. As of December 31, 2014, we had issued approximately 24.6 million shares of common stock in the Offering for gross offering proceeds of $244.9 million before offering costs and selling commissions of $25.5 million.
	The Company intends to use substantially all of the net proceeds from the Offering to acquire and operate a diversified portfolio of commercial real estate investments primarily consisting of single-tenant, income-producing necessity office and industrial properties, which are leased to creditworthy tenants under long-term leases, including distribution facilities, warehouses, manufacturing plants and corporate or regional headquarters in strategic locations. The Company expects that most of its properties will be subject to “net” leases, whereby the tenant will be primarily responsible for the property’s cost of repairs, maintenance, property taxes, utilities, insurance and other operating costs. As of December 31, 2014, the Company owned 23 properties, comprising 7.2 million rentable square feet of income-producing necessity corporate office and industrial properties located in 15 states. As of December 31, 2014, the rentable space at these properties was 100% leased.
	Effective as of December 12, 2014, Nicholas S. Schorsch resigned as a director, the chairman of the board of directors of the Company (the “Board”), the chief executive officer and the president of the Company. In addition, effective as of December 12, 2014, Mr. Schorsch resigned as the chief executive officer of CCI II Advisors, as the executive chairman of ARCP and as director of CCC. Effective December 17, 2014, Michael T. Ezzell was appointed as a director, the chief executive officer and the president of the Company by the Board. Effective September 5, 2014, Simon J. Misselbrook was appointed chief financial officer and treasurer of the Company by the Board, and effective March 25, 2015, Christine T. Brown was appointed principal accounting officer of the Company by the Board.
	An affiliate of ARCP entered into a definitive agreement (the “RCAP Agreement”), dated as of September 30, 2014, with RCS Capital Corporation (“RCAP”) pursuant to which RCAP would have acquired Cole Capital. The acquisition would have included CCI II Advisors and CCC. Additionally, the parties entered into a strategic arrangement by which an indirect wholly-owned subsidiary of ARCP would have acted as sub-advisor to the non-traded REITs sponsored by Cole Capital (the “Managed Funds”), including the Company, and would have acquired property and managed real estate assets for the Managed Funds.
	On November 3, 2014, RCAP publicly announced that it had notified ARCP of its purported termination of the RCAP Agreement. On November 11, 2014, ARCP filed a complaint in the Court of Chancery of the State of Delaware against RCAP alleging that RCAP’s attempt to terminate the RCAP Agreement constituted a breach of the RCAP Agreement and seeking, among other things, specific performance of the RCAP Agreement or, in the alternative, money damages. On December 4, 2014, ARCP announced that it had entered into a settlement agreement with RCAP that resolved the dispute over RCAP’s attempt to terminate the RCAP Agreement. ARCP received $60.0 million in the settlement.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements.
	Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	Investment in and Valuation of Real Estate Assets
	Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, excluding acquisition related expenses, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets and leasing costs. All repairs and maintenance are expensed as incurred.
	The Company is required to make subjective assessments as to the useful lives of its depreciable assets. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life of the assets. Real estate assets, other than land, are depreciated or amortized on a straight-line basis. The estimated useful lives of the Company’s real estate assets by class are generally as follows:
	Buildings	40 years
	Tenant improvements	Lesser of useful life or lease term
	Intangible lease assets	Lease term
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate-related assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates, or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value will be determined using a discounted cash flow analysis and recent comparable sales transactions. No impairment indicators were identified and no impairment losses were recorded during the year ended December 31, 2014 or for the period from February 13, 2013 to December 31, 2013.
	When developing estimates of expected future cash flows, the Company makes certain assumptions regarding future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, terminal capitalization and discount rates, the expected number of months it takes to re-lease a property, required tenant improvements and the number of years the property will be held for investment. The use of alternative assumptions in estimating expected future cash flows could result in a different determination of the property’s expected future cash flows and a different conclusion regarding the existence of an impairment, the extent of such loss, if any, as well as the fair value of the real estate assets.
	When a real estate asset is identified by the Company as being held for sale, the Company will cease depreciation and amortization of the assets related to the property, and will estimate the fair value, net of selling costs. If, in management’s opinion, the fair value, net of selling costs, of the asset is less than the carrying amount of the asset, an adjustment to the carrying amount would be recorded to reflect the estimated fair value of the property, net of selling costs. There were no assets identified as held for sale as of December 31, 2014 or for the period from February 13, 2013 to December 31, 2013.
	Allocation of Purchase Price of Real Estate Assets
	Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and identified intangible assets and liabilities, consisting of the value of above market and below market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition related expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The Company obtains an independent appraisal for each real property acquisition. The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information.
	The fair values of above market and below market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including any bargain renewal periods, with respect to a below market lease. The above market and below market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above market or below market leases relating to that lease would be recorded as an adjustment to rental income.
	The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include commissions and other direct costs and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed.
	The Company may acquire certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrow funds to the Company or the seller or a combination thereof. Contingent consideration arrangements will be based on a predetermined formula and have set time periods regarding the obligation to make future payments, including funds released to the seller from escrow accounts, or the right to receive escrowed funds as set forth in the respective purchase and sale agreement. Contingent consideration arrangements, including amounts funded through an escrow account, will be recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value, subsequent to acquisition, will be reflected in the accompanying consolidated statements of operations. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management.
	The Company will estimate the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable will initially be recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance will be amortized to interest expense over the term of the respective mortgage note payable.
	The determination of the fair values of the real estate assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, capitalization and discount rates, interest rates and other variables. The use of alternative estimates may result in a different allocation of the Company’s purchase price, which could impact the Company’s results of operations.
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with maturities when purchased of three months or less to be cash equivalents. The Company considers investments in highly liquid money market accounts to be cash equivalents.
	Rents and Tenant Receivables
	Rents and tenant receivables primarily include amounts to be collected in future periods related to the recognition of rental income on a straight-line basis over the lease term and cost recoveries due from tenants. The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy, if any, are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company’s reported net income or loss is directly affected by management’s estimate of the collectability of accounts receivable. The Company records allowances for those balances that the Company deems to be uncollectible, including any amounts relating to straight-line rent receivables. As of December 31, 2014 and 2013, no balances were deemed uncollectible and no allowance was recorded.
	Prepaid Expenses
	Prepaid expenses include expenses paid as of the balance sheet date that relate to future periods and will be expensed or reclassified to another account during the period to which the costs relate. Any amounts with no future economic benefit are charged to earnings when identified.
	Concentration of Credit Risk
	As of December 31, 2014, the Company had cash on deposit at two financial institutions, in both of which the Company had deposits in excess of federally insured levels, totaling $10.6 million; however, the Company has not experienced any losses in such accounts. The Company limits significant cash deposits to accounts held by financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits.
	As of December 31, 2014, two of the Company’s tenants accounted for 18% and 13%, respectively, of the Company’s 2014 gross annualized rental revenues. The Company also had certain geographic concentrations in its property holdings. In particular, as of December 31, 2014, four of the Company’s properties were located in Ohio, one property was located in Arizona, and two properties were located in Alabama, which accounted for 21%, 18%, and 11%, respectively, of the Company’s 2014 total gross annualized rental revenues. In addition, the Company had tenants in the manufacturing, mining and natural resources, logistics and government and non-profit industries, which comprised 31%, 18%, 11%, and 10%, respectively, of the Company’s 2014 gross annualized rental revenues.
	Deferred Financing Costs
	Deferred financing costs are capitalized and amortized on a straight-line basis over the term of the related financing agreement, which approximates the effective interest method. If a note payable is prepaid, any unamortized deferred financing costs related to the note payable would be expensed. Amortization of deferred financing costs, including any write-offs, for the year ended December 31, 2014 was $602,000 and was recorded in interest expense in the consolidated statements of operations.
	Offering and Related Costs
	CCI II Advisors funds all of the organization and offering costs on the Company’s behalf (excluding selling commissions and dealer manager fees) and may be reimbursed for such costs up to 2.0% of aggregate gross proceeds from the Offering. A portion of the other organization and offering expenses may be underwriting compensation. As of December 31, 2014, CCI II Advisors had paid organization and offering costs in excess of the 2.0% in connection with the Offering. These excess costs were not included in the Company’s financial statements because such costs were not a liability to the Company as they exceeded 2.0% of gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess costs may become payable.
	Interest
	Interest is charged to interest expense as it accrues. No interest costs were capitalized during the years ended December 31, 2014, or for the period from February 13, 2013 to December 31, 2013.
	Due to Affiliates
	Certain affiliates of CCI II Advisors received fees, reimbursements, and compensation in connection with services provided relating to the Offering and the acquisition, management, financing, and leasing of the properties of the Company. As of December 31, 2014, $23.1 million was due to CCI II Advisors and its affiliates for such services, as discussed in Note 9 to these consolidated financial statements.
	Stockholder’s Equity
	As of December 31, 2014, the Company was authorized to issue 490.0 million shares of common stock and 10.0 million shares of preferred stock. All shares of such stock have a par value of $0.01 per share. The Board may amend the charter to authorize the issuance of additional shares of capital stock without obtaining shareholder approval. The par value of investor proceeds raised from the Offering will be classified as common stock, with the remainder allocated to capital in excess of par value. As of December 31, 2014, the Company had 24.6 million shares of common stock outstanding and no shares of preferred stock outstanding.
	Distributions Payable and Distribution Policy
	In order to qualify and maintain its status as a REIT, the Company is required to, among other things, make distributions each taxable year equal to at least 90% of its taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). To the extent that funds are available, the Company intends to pay regular distributions to stockholders. Distributions are paid to stockholders of record as of applicable record dates.
	The Board authorized a daily distribution, based on 365 days in the calendar year, of $0.001643836 per share (which equates to approximately 6.00% on an annualized basis calculated at the current rate, assuming a $10.00 per share purchase price) for stockholders of record as of the close of business on each day of the period commencing on January 14, 2014 and ending on March 31, 2014. In addition, the Board authorized a daily distribution, based on 365 days in the calendar year, of $0.0017260274 per share (which equates to approximately 6.30% on an annualized basis calculated at the current rate, assuming a $10.00 per share purchase price) for stockholders of record as of the close of business on each day of the period commencing on April 1, 2014 and ending on June 30, 2015. As of December 31, 2014, the Company had distributions payable of $1.3 million.
	Redeemable Common Stock
	Under the Company’s share redemption program, the Company’s requirement to redeem shares of its outstanding common stock is limited, among other things, to the net proceeds received by the Company from the sale of shares under the DRIP, net of shares redeemed to date. The Company records amounts that are redeemable under the share redemption program as redeemable common stock outside of permanent equity in its consolidated balance sheets. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value.
	Reportable Segment
	The Company’s commercial real estate investments consist primarily of single-tenant, income-producing necessity office and industrial properties, which are leased to creditworthy tenants under long-term net leases. The commercial properties are geographically diversified throughout the United States and have similar economic characteristics. The Company evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
	Revenue Recognition
	Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred.
	Income Taxes
	The Company intends to elect to be taxed as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, commencing with its taxable year ending December 31, 2014, as it did not commence principal operations until January 13, 2014. If the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal corporate income tax to the extent it distributes its taxable income to its stockholders, and so long as it, among other things, distributes at least 90% of its annual taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). REITs are subject to a number of other organizational and operational requirements. Even if the Company qualifies for taxation as a REIT, it or its subsidiaries may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.
	Earnings (Loss) Per Share
	Earnings (loss) per share are calculated based on the weighted average number of common shares outstanding during each period presented. Diluted loss per share considers the effect of any potentially dilutive share equivalents, of which the Company had none for the year ended December 31, 2014, or the period from February 26, 2013 (date of inception) to December 31, 2013.
	Recent Accounting Pronouncements
	In April 2014, the U.S. Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), which amends the reporting requirements for discontinued operations by updating the definition of a discontinued operation to be a component of an entity that represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results, resulting in fewer disposals that qualify for discontinued operations reporting; yet, the pronouncement also requires expanded disclosures for discontinued operations. The adoption of ASU 2014-08 did not have a material impact on the Company’s consolidated financial statements because the Company did not have any discontinued operations.
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes the revenue recognition requirements in Revenue Recognition (Topic 605), and requires an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers, including real estate sales, in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company does not believe ASU 2014-09, when effective, will have a material impact on the Company’s consolidated financial statements.
	In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which requires management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. ASU 2014-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early application permitted. The Company does not believe ASU 2014-15, when effective, will have a material impact on the Company’s consolidated financial statements because the Company currently does not have any conditions that give rise to substantial doubt about its ability to continue as a going concern.
	In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis ("ASU 2015-02"), which eliminates the deferral of FAS 167 and makes changes to both the variable interest model and the voting model. These changes will require re-evaluation of certain entities for consolidation and will require the Company to revise its documentation regarding the consolidation or deconsolidation of such entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The Company does not believe ASU 2015-02, when effective, will have material impact on the Company’s financial statements.

Fair_Value_Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS
	GAAP defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. GAAP emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement.
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate the fair value. Assets and liabilities are measured using inputs from three levels of the fair value hierarchy, as follows:
	Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
	Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs).
	Level 3 - Unobservable inputs, which are only used to the extent that observable inputs are not available, reflect the Company’s assumptions about the pricing of an asset or liability.
	The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities:
	Cash and cash equivalents and restricted cash - The Company considers the amount of these financial assets to approximate fair value because of the short period of time between their origination and their expected realization. These financial assets are considered Level 1.
	Credit facility, notes payable and line of credit with affiliate - The fair value is estimated by discounting the expected cash flows based on estimated borrowing rates available to the Company as of the measurement date. The estimated fair value of the Company’s debt was $431.3 million as of December 31, 2014, compared to the carrying value on that date of $430.9 million. The fair value of the Company’s debt is estimated using Level 2 inputs.
	Considerable judgment is necessary to develop estimated fair values of financial assets and liabilities. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize, or be liable for, on disposition of the financial assets and liabilities. As of December 31, 2014, there have been no transfers of financial assets or liabilities between fair value hierarchy levels.

Real_Estate_Acquisitions

Real Estate Acquisitions	12 Months Ended
	Dec. 31, 2014
Real Estate [Abstract]
REAL ESTATE ACQUISITIONS	REAL ESTATE ACQUISITIONS
	2014 Property Acquisitions
	During the year ended December 31, 2014, the Company acquired 23 commercial properties for an aggregate purchase price of $646.5 million (the “2014 Acquisitions”). The Company purchased the 2014 Acquisitions with net proceeds from the Offering and available borrowings. The Company allocated the purchase price of these properties to the fair value of the assets acquired and liabilities assumed. The following table summarizes the purchase price allocation (in thousands):
		December 31, 2014
	Land	$	50,549
	Building and improvements	528,279
	Acquired in-place leases	74,436
	Acquired above-market leases	1,562
	Acquired below-market leases	(8,310		)
	Total purchase price	$	646,516
	The Company recorded revenue for the year ended December 31, 2014 of $17.8 million and a net loss for the year ended December 31, 2014 of $12.7 million related to the 2014 Acquisitions. In addition, the Company recorded $14.7 million of acquisition related expenses for the year ended December 31, 2014.
	The following table summarizes selected financial information of the Company as if the 2014 Acquisitions were completed on January 13, 2014, the date the Company commenced principal operations. The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the year ended December 31, 2014 (in thousands):
		Period from January 13, 2014 to December 31, 2014
	Pro forma basis (unaudited):
	Revenue	$	53,440
	Net income	$	13,618
	The unaudited pro forma information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2014, nor does it purport to represent the results of future operations.

Intangible_Lease_Assets

Intangible Lease Assets	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
INTANGIBLE LEASE ASSETS	INTANGIBLE LEASE ASSETS
	The intangible lease assets consisted of the following (in thousands, except weighted average life remaining amounts):
		As of December 31,
		2014		2013
	In-place leases, net (with accumulated amortization of $1,726 and $0, respectively and a weighted average life remaining of 11.4 and 0 years, respectively)	$	72,710	$	—
	Acquired above market lease, (with a weighted average life remaining of 12.3 and 0 years, respectively)	1,562		—
	Amortization expense related to the in-place lease assets for the year ended December 31, 2014 was $1.7 million, which also represents accumulated amortization. No amortization expense was recorded related to the acquired above market lease for the year ended December 31, 2014. In addition, no amortization expense was incurred or recorded related to intangible lease assets for the period from February 13, 2013 to December 31, 2013.
	Estimated amortization expense related to the intangible lease assets as of December 31, 2014, for each of the five succeeding fiscal years is a follows (in thousands):
		Amortization
	Years Ending December 31,	In-Place Leases		Above Market Leases
	2015	$	6,482	$	125
	2016	6,482		125
	2017	6,482		125
	2018	6,482		125
	2019	6,482		125

Credit_Facilities_and_Notes_Pa

Credit Facilities and Notes Payable	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
CREDIT FACILITIES AND NOTES PAYABLE	CREDIT FACILITIES AND NOTES PAYABLE
	As of December 31, 2014, the Company had $430.9 million of debt outstanding with a weighted average interest rate of 2.74% and a weighted average remaining term of 4.4 years.
	The following table summarizes the debt activity for the year ended December 31, 2014 (in thousands):
						During the Year Ended December 31, 2014
		Balance as of				Debt Issuance		Repayments			Balance as of December 31, 2014
		December 31, 2013
	Fixed rate debt	$	—			$	35,100	$	—		$	35,100
	Credit facility	—				427,731		(61,915		)	365,816
	Line of credit with affiliates	—				94,800		(64,800		)	30,000
	Total	$	—			$	557,631	$	(126,715	)	$	430,916
	As of December 31, 2014, the fixed rate debt had an interest rate of 4.08%, and a maturity date of November 1, 2021. The mortgage note payable is secured by the respective properties on which the debt was placed. The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the fixed rate debt was $56.9 million as of December 31, 2014, and the assets securing the Amended Credit Facility’s (as defined below) underlying collateral pool was $591.4 million as of December 31, 2014.
	During the year ended December 31, 2014, the Company entered into a secured revolving credit facility (the “Credit Facility”) with JPMorgan Chase Bank, N.A. (“JPMorgan Chase”) as administrative agent. The Credit Facility allowed the Company to borrow up to $100.0 million in revolving loans (the “Revolving Loans”). In November 2014, the Company then entered into an accordion increase agreement with JPMorgan Chase, which allowed the Company to borrow up to $225.0 million in Revolving Loans.
	In December 2014, the Company entered into an amended and restated credit agreement (the “Amended Credit Agreement”) with JPMorgan Chase, as administrative agent, swing line lender and letter of credit issuer, Regions Bank and U.S. Bank National Association as co-syndication agents, and other lending institutions that are or may become parties to the Amended Credit Agreement, which are not affiliated with the Company, its advisor, or their affiliates. The Amended Credit Agreement allows the Company to borrow up to $200.0 million in Revolving Loans and includes a $200.0 million term loan (the “Term Loan”), with the maximum amount outstanding not to exceed the borrowing base (the “Borrowing Base”), calculated as 65% of the aggregate value allocated to each qualified property comprising eligible collateral, as defined in the Amended Credit Agreement (the “Amended Credit Facility”). Up to 15% of the Revolving Loans may be used for issuing letters of credit and up to 10% of the Revolving Loans, not to exceed $50.0 million, may be used for issuing short term (ten day or less) advances. Subject to meeting certain conditions described in the Amended Credit Agreement and the payment of certain fees, aggregate borrowings under the Amended Credit Facility may be increased up to a maximum of $1.25 billion. The Revolving Loans mature on December 12, 2018; however, the Borrower may elect to extend the maturity dates of such loans to December 12, 2019, subject to satisfying certain conditions described in the Amended Credit Agreement. The Term Loan matures on December 12, 2019. If the Borrower does not reach $1.0 billion in total asset value prior to March 31, 2016, both the Revolving Loans and Term Loan will mature on September 30, 2017.
	The Revolving Loans and Term Loan will bear interest at rates depending upon the type of loan specified by the Borrower. For a eurodollar rate loan (as defined in the Amended Credit Agreement), the interest rate will be equal to the one-month, two-month, three-month or six-month LIBOR for the interest period, as elected by the Borrower, multiplied by the Statutory Reserve Rate (as defined in the Amended Credit Agreement), plus 2.45%. For base rate committed loans (as defined in the Amended Credit Agreement), the interest rate will be a per annum amount equal to the greatest of: (i) JPMorgan Chase’s Prime Rate; (ii) the Federal Funds Effective Rate (as defined in the Amended Credit Agreement) plus 0.50%; and (iii) one-month LIBOR multiplied by the Statutory Reserve Rate plus 2.45%. The Amended Credit Agreement also includes interest rate structures should the Company convert to an unsecured revolving credit facility, or should the Company obtain an investment grade rating, subject to meeting certain conditions described in the Amended Credit Agreement. As of December 31, 2014, the Revolving Loans had $18.6 million available for borrowing and the Revolving Loans and Term Loan had a weighted average interest rate of 2.64%.
	The Amended Credit Agreement contains customary representations, warranties, borrowing conditions and affirmative, negative and financial covenants, including minimum net worth, debt service coverage and leverage ratio requirements and dividend payout and REIT status requirements. In particular, the Amended Credit Agreement required the Company to maintain a minimum consolidated net worth of at least $194.9 million as of December 31, 2014, a leverage ratio less than or equal to 70.0% and a fixed charge coverage ratio equal to or greater than 1.50. Based on the Company’s analysis and review of its results of operations and financial condition, the Company believes it was in compliance with the covenants of the Amended Credit Agreement as of December 31, 2014.
	In addition, during the year ended December 31, 2014, the Company entered into a modification agreement with Series C, LLC (“Series C”), an affiliate of the Company’s advisor, in order to increase the maximum principal amount of the Company’s original subordinate revolving line of credit to $60.0 million (the “Series C Line of Credit”). The Series C Line of Credit bears interest at a rate per annum equal to the one-month LIBOR plus 2.20% with accrued interest payable monthly in arrears and principal due upon maturity on January 13, 2016. The Series C Line of Credit had an interest rate of 2.36% as of December 31, 2014. In the event the Series C Line of Credit is not paid off on the maturity date, the loan includes usual and customary default provisions. The Series C Line of Credit was approved by a majority of the Board (including a majority of the independent directors) not otherwise interested in the transactions as fair, competitive and commercially reasonable and no less favorable to the Company than comparable loans between unaffiliated parties under the same circumstances. As of December 31, 2014, the Company had $30.0 million available for borrowing under the Series C Line of Credit.
	Maturities
	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt for the five years and thereafter subsequent to year ended December 31, 2014 (in thousands):
	Annual Maturities			Principal Repayments
	2015			$	—
	2016			30,000
	2017			—
	2018			165,816
	2019			200,000
	Thereafter			35,100
	Total			$	430,916

Acquired_Below_Market_Lease_In

Acquired Below Market Lease Intangibles	12 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Liabilities Disclosure [Text Block]	ACQUIRED BELOW MARKET LEASE INTANGIBLES
	Acquired below market lease intangibles consisted of the following (in thousands, except weighted average life remaining amounts):
		As of December 31,		As of December 31,
		2014		2013
	Acquired below market lease intangibles, less accumulated amortization of $88 and $0, respectively (with a weighted average life remaining of 12.4 and 0 years, respectively)	$	8,222	$	—
	Amortization of the intangible lease liabilities during the year ended December 31, 2014 was $88,000 and was recorded as an addition to rental and other property income in the consolidated statements of operations.
	Estimated amortization of the intangible lease liabilities as of December 31, 2014 for each of the five succeeding fiscal years is as follows (in thousands):
	Year ended December 31,	Amortization of Below Market Leases
	2015	$	717
	2016	717
	2017	717
	2018	717
	2019	717

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES
	Litigation
	In the ordinary course of business, the Company may become subject to litigation or claims. The Company is not aware of any pending legal proceedings of which the outcome is reasonably possible to have a material effect on its results of operations, financial condition or liquidity.
	Environmental Matters
	In connection with the ownership and operation of real estate, the Company potentially may be liable for costs and damages related to environmental matters. In addition, the Company may acquire certain properties that are subject to environmental remediation. The Company carries environmental liability insurance on its properties that provides limited coverage for remediation liability and pollution liability for third-party bodily injury and property damage claims. The Company is not aware of any environmental matters which it believes are reasonably possible to have a material effect on its results of operations, financial condition or liquidity.

RelatedParty_Transactions_and_

Related-Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS
	The Company has incurred, and will continue to incur, commissions, fees and expenses payable to CCI II Advisors and certain of its affiliates in connection with the Offering and the acquisition, management and disposition of its assets.
	Offering
	In connection with the Offering, CCC, the Company’s dealer manager, receives a commission of up to 7.0% of gross offering proceeds before reallowance of commissions earned by participating broker-dealers. CCC intends to reallow 100% of commissions earned to participating broker-dealers. In addition, up to 2.0% of gross offering proceeds from the primary portion of the Offering before reallowance to participating broker-dealers is paid and will continue to be paid to CCC as a dealer manager fee. CCC, in its sole discretion, may reallow all or a portion of its dealer manager fee to such participating broker-dealers. No selling commissions or dealer manager fees are paid to CCC or other broker-dealers with respect to shares sold pursuant to the DRIP.
	All organization and offering expenses (excluding selling commissions and the dealer manager fees) are paid by CCI II Advisors or its affiliates and can be reimbursed by the Company up to 2.0% of aggregate gross offering proceeds. A portion of the other organization and offering expenses may be underwriting compensation. As of December 31, 2014, CCI II Advisors had paid organization and offering costs in excess of the 2.0% in connection with the Offering. These excess costs were not included in the financial statements of the Company because such costs were not a liability of the Company as they exceeded 2.0% of gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess costs may become payable.
	The Company incurred fees and expense reimbursements as shown in the table below (in thousands) for services provided by CCI II Advisors and its affiliates related to the services described above for the periods indicated.
		2014		2013
	Offering:
	Selling commissions	$	15,829	$	—
	Selling commissions reallowed by CCC	$	15,829	$	—
	Dealer manager fees	$	4,809	$	—
	Dealer manager fees reallowed by CCC	$	2,358	$	—
	Other offering costs	$	4,898	$	—
	As of December 31, 2014, all of the amounts shown above had been paid to CCI II Advisors and its affiliates. As the Company did not commence principal operations until January 13, 2014, the Company did not incur any selling commissions, dealer manager fees or expense reimbursements in connection with the offering stage of the Offering for the period from February 13, 2013 to December 31, 2013.
	Acquisitions and Operations
	CCI II Advisors, or its affiliates, receives acquisition fees of up to 2.0% of: (1) the contract purchase price of each property or asset the Company acquires; (2) the amount paid in respect of the development, construction or improvement of each asset the Company acquires; (3) the purchase price of any loan the Company acquires; and (4) the principal amount of any loan the Company originates. In addition, the Company reimburses CCI II Advisors or its affiliates for acquisition related expenses incurred in the process of acquiring a property or the origination or acquisition of a loan, so long as the total acquisition fees and expenses relating to the transaction do not exceed 6.0% of the contract purchase price.
	The Company pays CCI II Advisors a monthly advisory fee based upon the Company’s monthly average invested assets, which is equal to the following amounts: (1) an annualized rate of 0.75% paid on the Company’s average invested assets that are between $0 to $2.0 billion; (2) an annualized rate of 0.70% paid on the Company’s average invested assets that are between $2 billion and $4.0 billion; and (3) an annualized rate of 0.65% paid on the Company’s average invested assets that are over $4.0 billion.
	The Company reimburses CCI II Advisors for the operating expenses it paid or incurred in connection with the services provided to the Company, subject to the limitation that the Company will not reimburse for any amount by which its operating expenses (including the advisory fee) at the end of the four preceding fiscal quarters exceeds the greater of (1) 2.0% of average invested assets, or (2) 25.0% of net income other than any additions to reserves for depreciation, bad debts or other similar non-cash reserves and excluding any gain from the sale of assets for that period. The Company will not reimburse CCI II Advisors for personnel costs in connection with the services for which CCI II Advisors receives acquisition or disposition fees. The Company recorded fees and expense reimbursements as shown in the table below (in thousands) for services provided by CCI II Advisors and its affiliates related to the services described above during the periods indicated:
		2014		2013
	Acquisition and Operations:
	Acquisition fees and expenses	$	13,170	$	—
	Advisory fees and expenses	$	1,630	$	—
	Operating expenses	$	411	$	—
	As of December 31, 2014, $4.7 million of the amounts shown above had been incurred, but not yet paid for services provided by CCI II Advisors or its affiliates in connection with the acquisitions and operations stage and was a liability to the Company. As the Company did not commence principal operations until January 13, 2014, the Company did not incur any fees or expense reimbursements in connection with the acquisitions and operations stage during the year ended December 31, 2013. During the year ended December 31, 2014, CCI II Advisors permanently waived its rights to expense reimbursements totaling approximately $1.5 million, and thus the Company is not responsible for this amount.
	Liquidation/Listing
	If CCI II Advisors or its affiliates provide a substantial amount of services (as determined by a majority of the Company’s independent directors) in connection with the sale of properties, the Company will pay CCI II Advisors or its affiliates a disposition fee in an amount equal to up to one-half of the brokerage commission paid on the sale of the property, not to exceed 1.0% of the contract price of each property sold; provided, however, in no event may the disposition fee paid to CCI II Advisors or its affiliates, when added to the real estate commissions paid to unaffiliated third parties, exceed the lesser of the customary competitive real estate commission or an amount equal to 6.0% of the contract sales price. In addition, if CCI II Advisors or its affiliates provides a substantial amount of services (as determined by a majority of the Company’s independent directors) in connection with the sale of one or more assets other than properties, the Company may separately compensate CCI II Advisors at such rates and in such amounts as the Board, including a majority of the Company’s independent directors, and CCI II Advisors agree upon, not to exceed an amount equal to 1.0% of the contract price of the asset sold.
	If the Company is sold or its assets are liquidated, CCI II Advisors will be entitled to receive a subordinated performance fee equal to 15.0% of the net sale proceeds remaining after investors have received a return of their net capital invested and an 8.0% annual cumulative, non-compounded return. Alternatively, if the Company’s shares are listed on a national securities exchange, CCI II Advisors will be entitled to a subordinated performance fee equal to 15.0% of the amount by which the market value of the Company’s outstanding stock plus all distributions paid by the Company prior to listing exceeds the sum of the total amount of capital raised from investors and the amount of distributions necessary to generate an 8.0% annual cumulative, non-compounded return to investors. As an additional alternative, upon termination of the advisory agreement, CCI II Advisors may be entitled to a subordinated performance fee similar to the fee to which it would have been entitled had the portfolio been liquidated (based on an independent appraised value of the portfolio) on the date of termination.
	During each of the years ended December 31, 2014 and 2013, no commissions or fees were incurred for any such services provided by CCI II Advisors and its affiliates related to the liquidation/listing stage.
	Due to Affiliates
	As of December 31, 2014, $23.1 million had been incurred by CCI II Advisors or its affiliates, but had not been reimbursed by the Company, and was included in “due to affiliates” on the consolidated balance sheets. This amount primarily relates to property escrow deposits and acquisition costs due to CCI II Advisors or its affiliates for properties that the Company purchased during the year ended December 31, 2014.
	Transactions
	In connection with the real estate assets acquired during the year ended December 31, 2014, the Company entered into the Series C Line of Credit. Refer to Note 6 to these consolidated financial statements for the terms of the Series Line of Credit. As of December 31, 2014, the Company had $30.0 million outstanding under the Series C Line of Credit. The Company incurred $280,000 of interest expense due to an affiliate of CCI II Advisors related to the Series C Line of Credit during the twelve months ended December 31, 2014. During the year ended December 31, 2013, the Company did not enter into any loan agreements with affiliates of CCI II Advisors.

Economic_Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2014
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	ECONOMIC DEPENDENCY
	Under various agreements, the Company has engaged or will engage CCI II Advisors and its affiliates to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, the sale of shares of the Company’s common stock available for issuance, as well as other administrative responsibilities for the Company including accounting services and investor relations. As a result of these relationships, the Company is dependent upon CCI II Advisors and its affiliates. In the event that these companies are unable to provide the Company with these services, the Company would be required to find alternative providers of these services.

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY
	As of December 31, 2014, the Company was authorized to issue 490.0 million shares of common stock and 10.0 million shares of preferred stock. All shares of such stock have a par value of $0.01 per share. On February 26, 2013 CREI acquired 20,000 shares of common stock, at $10.00 per share. On February 7, 2014, the ownership of such shares was transferred to ARCP OP. Pursuant to the Company’s charter, ARCP OP is prohibited from selling the 20,000 shares of the common stock that represents the initial investment in the Company for so long as Cole Capital remains the Company’s sponsor; provided, however, that ARCP OP may transfer ownership of all or a portion of these 20,000 shares of the Company’s common stock to other affiliates of the Company’s sponsor.
	Distribution Reinvestment Plan
	Pursuant to the DRIP, the Company allows stockholders to elect to have their distributions reinvested in additional shares of the Company’s common stock. The purchase price per share under the DRIP is $9.50 per share. The Board may terminate or amend the DRIP at the Company’s discretion at any time upon ten days prior written notice to the stockholders. During the year ended December 31, 2014, approximately 298,000 shares were purchased under the DRIP for $2.8 million, which were recorded as redeemable common stock on the consolidated balance sheet, net of redemptions paid of $17,000. During the year ended December 31, 2013, no shares were purchased under the DRIP.
	Share Redemption Program
	The Company’s share redemption program permits its stockholders to sell their shares back to the Company after they have held them for at least one year, subject to the significant conditions and limitations described below.
	The share redemption program provides that the Company will redeem shares of its common stock from requesting stockholders, subject to the terms and conditions of the share redemption program. The Company will limit the number of shares redeemed pursuant to the share redemption program as follows: (1) the Company will not redeem in excess of 5% of the weighted average number of shares outstanding during the trailing 12 months prior to the end of the fiscal quarter for which the redemptions are being paid; and (2) funding for the redemption of shares will be limited to the net proceeds the Company receives from the sale of shares under the DRIP. In an effort to accommodate redemption requests throughout the calendar year, the Company intends to limit quarterly redemptions to approximately one-fourth of 5% (1.25%) of the weighted average number of shares outstanding during the trailing 12-month period ending on the last day of the fiscal quarter, and funding for redemptions for each quarter generally will be limited to the net proceeds the Company receives from the sale of shares in the respective quarter under the DRIP.
	During the term of the Offering, and until such time as the board of directors determines a reasonable estimate of the value of the Company’s shares, the redemption price per share (other than for shares purchased pursuant to the DRIP) will depend on the price paid for the shares and the length of time the stockholder has held such shares as follows: after one year from the purchase date, 95% of the amount paid for each share; after two years from the purchase date, 97.5% of the amount paid for each share; and after three years from the purchase date, 100% of the amount paid for each share. During this time period, the redemption price for shares purchased pursuant to the DRIP will be the amount paid for such shares. (In each case, the redemption price will be adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to the Company’s common stock.) Accordingly, the redemption price will reflect a stockholder’s reduced purchase price if such stockholder received discounted or waived selling commissions and/or a waived dealer manager fee. At any time the Company is engaged in an offering of shares, the per share price for shares purchased under the redemption program will always be equal to or lower than the applicable per share offering price.
	Upon receipt of a request for redemption, the Company may conduct a Uniform Commercial Code search to ensure that no liens are held against the shares. If the Company cannot purchase all shares presented for redemption in any fiscal quarter, based upon insufficient cash available and/or the limit on the number of shares the Company may redeem during any quarter or year, the Company will give priority to the redemption of deceased stockholders’ shares. The Company next will give priority to requests for full redemption of accounts with a balance of 250 shares or less at the time the Company receives the request, in order to reduce the expense of maintaining small accounts. Thereafter, the Company will honor the remaining redemption requests on a pro rata basis. Following such quarterly redemption period, the unsatisfied portion of the prior redemption request must be resubmitted, prior to the last day of the new quarter. Unfulfilled requests for redemption will not be carried over automatically to subsequent redemption periods.
	The Company redeems shares no later than the end of the month following the end of each fiscal quarter. Requests for redemption must be received on or prior to the end of the fiscal quarter in order for the Company to repurchase the shares in the month following the end of that fiscal quarter. The Board may amend, suspend or terminate the share redemption program at any time upon 30 days’ notice to the stockholders. During the year ended December 31, 2014, the Company redeemed approximately 1,700 shares under the share redemption program for approximately $17,000.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES
	For federal income tax purposes, distributions to stockholders are characterized as ordinary dividends, capital gain distributions, or nontaxable distributions. Nontaxable distributions will reduce U.S stockholders’ basis (but not below zero) in their shares. The following table shows the character of the distributions paid on a percentage basis for the year ended December 31, 2014.
		Year Ended December 31,
	Character of Distributions (unaudited):	2014
	Ordinary dividends	55	%
	Nontaxable distributions	45	%
	Total	100	%
	As of December 31, 2014, the tax basis carrying value of the Company’s land and depreciable real estate assets was $641.9 million. During the year ended December 31, 2014, the Company distributed as dividends to its shareholders 100% of its taxable income for federal income tax purposes. Accordingly, no provision for federal income taxes related to such taxable income was recorded on the Company’s financial statements. During the year ended December 31, 2014, the Company incurred state and local income and franchise taxes of $110,000, which were recorded in general and administrative expenses in the consolidated statements of operations.
	The Company had no unrecognized tax benefits as of or during the year ended December 31, 2014. Any interest and penalties related to unrecognized tax benefits would be recognized within the provision for income taxes in the accompanying consolidated statements of operations. The Company files income tax returns in the U.S. federal jurisdiction, as well as various state jurisdictions, and is subject to routine examinations by the respective tax authorities.

Operating_Leases

Operating Leases	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
OPERATING LEASES	OPERATING LEASES
	The Company’s real estate properties are leased to tenants under operating leases for which the terms and expirations vary. As of December 31, 2014, the leases had a weighted-average remaining term of 11.2 years. The leases may have provisions to extend the lease agreements, options for early termination after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2014 is as follows (in thousands):
	Year ending December 31,	Future Minimum Rental Income
	2015	$	48,986
	2016	48,986
	2017	48,986
	2018	48,986
	2019	48,986
	Thereafter	304,670
	Total	$	549,600

Quarterly_Results_Unaudited

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	QUARTERLY RESULTS (UNAUDITED)
	Presented below is a summary of the unaudited quarterly financial information for the year ended December 31, 2014 (in thousands, except per share amounts). In the opinion of management, the information for the interim period presented includes all adjustments, which are of a normal and recurring nature, necessary to present a fair presentation of the results for each period.
		December 31, 2013
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	—		$	—		$	—		$	—
	Operating loss	$	—		$	—		$	(18	)	$	(82	)
	Net loss	$	—		$	—		$	(18	)	$	(82	)
	Basic and diluted net loss per common share (1)	$	—		$	—		$	(0.99	)	$	(4.39	)
	Distributions declared per common share	$	—		$	—		$	—		$	—
		December 31, 2014
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	458		$	1,428		$	5,589		$	10,371
	Operating loss	$	(523	)	$	(3,927	)	$	(187	)	$	(3,887	)
	Net loss	$	(803	)	$	(4,304	)	$	(1,305	)	$	(6,304	)
	Basic and diluted net loss per common share (1)	$	(0.08	)	$	(0.42	)	$	(0.13	)	$	(0.62	)
	Distributions declared per common share	$	0.15		$	0.16		$	0.16		$	0.18
	(1) Based on the weighted average number of shares outstanding as of December 31, 2013 and December 31, 2014, respectively.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS
	Status of the Offering
	As of March 25, 2015, the Company had received $263.7 million in gross offering proceeds through the issuance of approximately 26.5 million shares of its common stock in the Offering.
	Investment in Real Estate Assets
	Subsequent to December 31, 2014, the Company did not acquire any real estate properties.
	Credit Facility and Notes Payable
	In connection with the Amended Credit Facility, the Company executed an interest rate swap agreement subsequent to December 31, 2014 that effectively fixed the variable interest rate of the Term Loan at 3.79% based on the applicable margin at the current leverage ratio. The Company also entered into three notes payable agreements totaling $135.4 million, including two note payables subject to swap agreements that effectively fixed the variable interest rate at 3.35% and 3.29%, respectively.
	Officer Appointment
	Effective March 25, 2015, Christine T. Brown was appointed principal accounting officer of the Company by the Board, replacing Simon J. Misselbrook as principal accounting officer of the Company. Mr. Misselbrook remains the chief financial officer, treasurer and principal financial officer of the Company.

Schedule_III

Schedule III	12 Months Ended
	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III
														Gross Amount
														at Which
							Initial Costs to Company					Total		Carried At		Accumulated
										Buildings &		Adjustment		31-Dec-14		Depreciation		Date	Date
	Description (a)			Encumbrances			Land			Improvements		to Basis		(b) (c)		(d) (e)		Acquired	Constructed
	Real Estate Held for Investment the Company has Invested in Under Operating Leases
	3 Phoenix, Inc.:
		Wake Forest, NC		(f)			$	973		$	8,330	$	—	$	9,303	$	62	9/30/14	2014
	3D Systems:
		Rock Hill, SC		(f)			780			8,082		—		8,862		63		9/30/14	1992
	Amazon.com, Inc.:
		Petersburg, VA		(f)			3,866			48,404		—		52,270		302		10/15/14	2012
	Amcor Rigid Plastics USA, Inc.:
		Franklin, IN		(f)			1,373			16,530		—		17,903		233		6/27/14	1973
		Bellevue, OH		(f)			611			9,171		—		9,782		72		9/26/14	1998
		Bellevue, OH		(f)			498			7,960		—		8,458		62		9/26/14	1998
	Avnet, Inc.:
		San Antonio, TX		(f)			1,619			9,611		—		11,230		13		12/19/14	2014
	BTS Procter & Gamble Distributing:
		Union, OH		(f)			3,537			68,961		—		72,498		74		12/23/14	2014
	County of Santa Clara:
		San Jose, CA		14,314			4,561			17,508		—		22,069		471		1/13/14	1997
	E.I. DuPont de Nemours and Company:
		Johnston, CO		(f)			1,587			33,027		—		34,614		39		12/19/14	2014
	FedEx Ground Package System, Inc.:
		St. Joseph, MO		(f)			414			4,304		—		4,718		70		5/30/14	2014
		Fort Dodge, IA		(f)			123			2,414		—		2,537		34		6/2/14	2014
		Las Vegas, NV		11,541			1,838			16,439		—		18,277		248		6/5/14	2010
		Johnstown, CO		(f)			1,285			12,182		—		13,467		98		9/30/14	2014
	Freeport-McMoRan Inc.:
		Phoenix, AZ		(f)			—			96,553		—		96,553		330		11/4/14	2010
	Green Mountain Coffee:
		Burlington, MA		(f)			4,612			31,175		—		35,787		495		6/30/14	2013
	ODW:
		Columbus, OH		(f)			3,052			22,096		—		25,148		325		6/30/14	1992
	Owens Corning:
		Fuera Bush, NY		(f)			1,134			10,218		—		11,352		129		7/29/14	1986
	Protein Simple:
		San Jose, CA		(f)			10,797			21,611		—		32,408		138		10/23/14	1982
	RF Micro Devices:
		Greensboro, NC		9,245			865			11,155		—		12,020		156		6/12/14	1999
	State of Alabama:
		Birmingham, AL		(f)			1,950			26,831		—		28,781		503		4/30/14	2010
	Subaru of America :
		Lebanon, IN		(f)			3,041			27,333		—		30,374		396		6/23/14	2014
	Wyle CAS Group:
		Huntsville, AL		(f)			2,033			18,384		—		20,417		261		7/9/14	2013
	TOTAL:			$	35,100		$	50,549		$	528,279	$	—	$	578,828	$	4,574
	(a) As of December 31, 2014, we owned 22 single-tenant properties and one multi-tenant commercial property.
	(b) The aggregate cost for federal income tax purposes was approximately $641.9 million.
	(c) The following is a reconciliation of total real estate carrying value for the years ended December 31, 2014 and December 31, 2013:
					Year Ended			Year Ended
					December 31, 2014			December 31, 2013
	Balance, beginning of period				$	—		$	—
		Additions
			Acquisitions		578,828			—
			Improvements		—			—
		Total additions			578,828			—
			Deductions		—
			Cost of real estate sold		—			—
		Total deductions			—			—
	Balance, end of period				$	578,828		$	—
	(d) The following is a reconciliation of accumulated depreciation for the years ended December 31, 2014 and December 31, 2013:
				Year Ended			Year Ended
				December 31, 2014			December 31, 2013
Balance, beginning of period				$	—		$	—
	Additions
		Acquisitions - Depreciation Expense for Building & Tenant Improvements Acquired		4,574			—
		Improvements - Depreciation Expense for Tenant Improvements & Building Equipment		—			—
	Total additions			4,574			—
		Deductions		—			—
		Cost of real estate sold		—			—
	Total deductions			—			—
Balance, end of period				$	4,574		$	—
(e) The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, tenant improvements are amortized over the respective lease term and buildings are depreciated over 40 years.
(f) Part of the Amended Credit Facility’s unencumbered borrowing base. As of December 31, 2014, the Company had $365.8 million outstanding under the Amended Credit Facility.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Basis of presentation	The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements.
Principles of consolidation	Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Investment in and valuation of real estate assets	Investment in and Valuation of Real Estate Assets
	Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, excluding acquisition related expenses, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets and leasing costs. All repairs and maintenance are expensed as incurred.
	The Company is required to make subjective assessments as to the useful lives of its depreciable assets. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life of the assets. Real estate assets, other than land, are depreciated or amortized on a straight-line basis. The estimated useful lives of the Company’s real estate assets by class are generally as follows:
	Buildings	40 years
	Tenant improvements	Lesser of useful life or lease term
	Intangible lease assets	Lease term
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate-related assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates, or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value will be determined using a discounted cash flow analysis and recent comparable sales transactions. No impairment indicators were identified and no impairment losses were recorded during the year ended December 31, 2014 or for the period from February 13, 2013 to December 31, 2013.
	When developing estimates of expected future cash flows, the Company makes certain assumptions regarding future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, terminal capitalization and discount rates, the expected number of months it takes to re-lease a property, required tenant improvements and the number of years the property will be held for investment. The use of alternative assumptions in estimating expected future cash flows could result in a different determination of the property’s expected future cash flows and a different conclusion regarding the existence of an impairment, the extent of such loss, if any, as well as the fair value of the real estate assets.
	When a real estate asset is identified by the Company as being held for sale, the Company will cease depreciation and amortization of the assets related to the property, and will estimate the fair value, net of selling costs. If, in management’s opinion, the fair value, net of selling costs, of the asset is less than the carrying amount of the asset, an adjustment to the carrying amount would be recorded to reflect the estimated fair value of the property, net of selling costs.
Allocation of purchase price of real estate assets	Allocation of Purchase Price of Real Estate Assets
	Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and identified intangible assets and liabilities, consisting of the value of above market and below market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition related expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The Company obtains an independent appraisal for each real property acquisition. The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information.
	The fair values of above market and below market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including any bargain renewal periods, with respect to a below market lease. The above market and below market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above market or below market leases relating to that lease would be recorded as an adjustment to rental income.
	The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include commissions and other direct costs and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed.
	The Company may acquire certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrow funds to the Company or the seller or a combination thereof. Contingent consideration arrangements will be based on a predetermined formula and have set time periods regarding the obligation to make future payments, including funds released to the seller from escrow accounts, or the right to receive escrowed funds as set forth in the respective purchase and sale agreement. Contingent consideration arrangements, including amounts funded through an escrow account, will be recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value, subsequent to acquisition, will be reflected in the accompanying consolidated statements of operations. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management.
	The Company will estimate the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable will initially be recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance will be amortized to interest expense over the term of the respective mortgage note payable.
	The determination of the fair values of the real estate assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, capitalization and discount rates, interest rates and other variables. The use of alternative estimates may result in a different allocation of the Company’s purchase price, which could impact the Company’s results of operations.
Cash and cash equivalents	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with maturities when purchased of three months or less to be cash equivalents. The Company considers investments in highly liquid money market accounts to be cash equivalents.
Rents and tenant receivables	Rents and Tenant Receivables
	Rents and tenant receivables primarily include amounts to be collected in future periods related to the recognition of rental income on a straight-line basis over the lease term and cost recoveries due from tenants. The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy, if any, are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company’s reported net income or loss is directly affected by management’s estimate of the collectability of accounts receivable. The Company records allowances for those balances that the Company deems to be uncollectible, including any amounts relating to straight-line rent receivables.
Prepaid expenses	Prepaid Expenses
	Prepaid expenses include expenses paid as of the balance sheet date that relate to future periods and will be expensed or reclassified to another account during the period to which the costs relate. Any amounts with no future economic benefit are charged to earnings when identified.
Concentration of credit risk	Concentration of Credit Risk
	As of December 31, 2014, the Company had cash on deposit at two financial institutions, in both of which the Company had deposits in excess of federally insured levels, totaling $10.6 million; however, the Company has not experienced any losses in such accounts. The Company limits significant cash deposits to accounts held by financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits.
	As of December 31, 2014, two of the Company’s tenants accounted for 18% and 13%, respectively, of the Company’s 2014 gross annualized rental revenues. The Company also had certain geographic concentrations in its property holdings. In particular, as of December 31, 2014, four of the Company’s properties were located in Ohio, one property was located in Arizona, and two properties were located in Alabama, which accounted for 21%, 18%, and 11%, respectively, of the Company’s 2014 total gross annualized rental revenues. In addition, the Company had tenants in the manufacturing, mining and natural resources, logistics and government and non-profit industries, which comprised 31%, 18%, 11%, and 10%, respectively, of the Company’s 2014 gross annualized rental revenues.
Deferred financing costs	Deferred Financing Costs
	Deferred financing costs are capitalized and amortized on a straight-line basis over the term of the related financing agreement, which approximates the effective interest method. If a note payable is prepaid, any unamortized deferred financing costs related to the note payable would be expensed. Amortization of deferred financing costs, including any write-offs, for the year ended December 31, 2014 was $602,000 and was recorded in interest expense in the consolidated statements of operations.
Offering and related costs	Offering and Related Costs
	CCI II Advisors funds all of the organization and offering costs on the Company’s behalf (excluding selling commissions and dealer manager fees) and may be reimbursed for such costs up to 2.0% of aggregate gross proceeds from the Offering. A portion of the other organization and offering expenses may be underwriting compensation. As of December 31, 2014, CCI II Advisors had paid organization and offering costs in excess of the 2.0% in connection with the Offering. These excess costs were not included in the Company’s financial statements because such costs were not a liability to the Company as they exceeded 2.0% of gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess costs may become payable.
Interest	Interest
	Interest is charged to interest expense as it accrues. No interest costs were capitalized during the years ended December 31, 2014, or for the period from February 13, 2013 to December 31, 2013.
Stockholder's equity	Stockholder’s Equity
	As of December 31, 2014, the Company was authorized to issue 490.0 million shares of common stock and 10.0 million shares of preferred stock. All shares of such stock have a par value of $0.01 per share. The Board may amend the charter to authorize the issuance of additional shares of capital stock without obtaining shareholder approval. The par value of investor proceeds raised from the Offering will be classified as common stock, with the remainder allocated to capital in excess of par value.
Distributions payable and distribution policy	Distributions Payable and Distribution Policy
	In order to qualify and maintain its status as a REIT, the Company is required to, among other things, make distributions each taxable year equal to at least 90% of its taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). To the extent that funds are available, the Company intends to pay regular distributions to stockholders. Distributions are paid to stockholders of record as of applicable record dates.
	The Board authorized a daily distribution, based on 365 days in the calendar year, of $0.001643836 per share (which equates to approximately 6.00% on an annualized basis calculated at the current rate, assuming a $10.00 per share purchase price) for stockholders of record as of the close of business on each day of the period commencing on January 14, 2014 and ending on March 31, 2014. In addition, the Board authorized a daily distribution, based on 365 days in the calendar year, of $0.0017260274 per share (which equates to approximately 6.30% on an annualized basis calculated at the current rate, assuming a $10.00 per share purchase price) for stockholders of record as of the close of business on each day of the period commencing on April 1, 2014 and ending on June 30, 2015. As of December 31, 2014, the Company had distributions payable of $1.3 million.
Redeemable common stock	Redeemable Common Stock
	Under the Company’s share redemption program, the Company’s requirement to redeem shares of its outstanding common stock is limited, among other things, to the net proceeds received by the Company from the sale of shares under the DRIP, net of shares redeemed to date. The Company records amounts that are redeemable under the share redemption program as redeemable common stock outside of permanent equity in its consolidated balance sheets. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value.
Reportable segment	Reportable Segment
	The Company’s commercial real estate investments consist primarily of single-tenant, income-producing necessity office and industrial properties, which are leased to creditworthy tenants under long-term net leases. The commercial properties are geographically diversified throughout the United States and have similar economic characteristics. The Company evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
Revenue recognition	Revenue Recognition
	Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred.
Income taxes	Income Taxes
	The Company intends to elect to be taxed as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, commencing with its taxable year ending December 31, 2014, as it did not commence principal operations until January 13, 2014. If the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal corporate income tax to the extent it distributes its taxable income to its stockholders, and so long as it, among other things, distributes at least 90% of its annual taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). REITs are subject to a number of other organizational and operational requirements. Even if the Company qualifies for taxation as a REIT, it or its subsidiaries may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.
Earnings (loss) per share	Earnings (Loss) Per Share
	Earnings (loss) per share are calculated based on the weighted average number of common shares outstanding during each period presented. Diluted loss per share considers the effect of any potentially dilutive share equivalents, of which the Company had none for the year ended December 31, 2014, or the period from February 26, 2013 (date of inception) to December 31, 2013.
Recent accounting pronouncements	Recent Accounting Pronouncements
	In April 2014, the U.S. Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), which amends the reporting requirements for discontinued operations by updating the definition of a discontinued operation to be a component of an entity that represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results, resulting in fewer disposals that qualify for discontinued operations reporting; yet, the pronouncement also requires expanded disclosures for discontinued operations. The adoption of ASU 2014-08 did not have a material impact on the Company’s consolidated financial statements because the Company did not have any discontinued operations.
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes the revenue recognition requirements in Revenue Recognition (Topic 605), and requires an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers, including real estate sales, in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company does not believe ASU 2014-09, when effective, will have a material impact on the Company’s consolidated financial statements.
	In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which requires management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. ASU 2014-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early application permitted. The Company does not believe ASU 2014-15, when effective, will have a material impact on the Company’s consolidated financial statements because the Company currently does not have any conditions that give rise to substantial doubt about its ability to continue as a going concern.
	In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis ("ASU 2015-02"), which eliminates the deferral of FAS 167 and makes changes to both the variable interest model and the voting model. These changes will require re-evaluation of certain entities for consolidation and will require the Company to revise its documentation regarding the consolidation or deconsolidation of such entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The Company does not believe ASU 2015-02, when effective, will have material impact on the Company’s financial statements.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Investment in and valuation of real estate	The estimated useful lives of the Company’s real estate assets by class are generally as follows:
	Buildings	40 years
	Tenant improvements	Lesser of useful life or lease term
	Intangible lease assets	Lease term

Real_Estate_Acquisitions_Table

Real Estate Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2014
Real Estate [Abstract]
Schedule of purchase price allocation	The following table summarizes the purchase price allocation (in thousands):
		December 31, 2014
	Land	$	50,549
	Building and improvements	528,279
	Acquired in-place leases	74,436
	Acquired above-market leases	1,562
	Acquired below-market leases	(8,310		)
	Total purchase price	$	646,516
Business acquisition, pro forma information	The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the year ended December 31, 2014 (in thousands):
		Period from January 13, 2014 to December 31, 2014
	Pro forma basis (unaudited):
	Revenue	$	53,440
	Net income	$	13,618

Intangible_Lease_Assets_Tables

Intangible Lease Assets (Tables)	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Schedule of finite-lived intangible assets	The intangible lease assets consisted of the following (in thousands, except weighted average life remaining amounts):
		As of December 31,
		2014		2013
	In-place leases, net (with accumulated amortization of $1,726 and $0, respectively and a weighted average life remaining of 11.4 and 0 years, respectively)	$	72,710	$	—
	Acquired above market lease, (with a weighted average life remaining of 12.3 and 0 years, respectively)	1,562		—
Schedule of finite-lived intangible assets, future amortization expense	Estimated amortization expense related to the intangible lease assets as of December 31, 2014, for each of the five succeeding fiscal years is a follows (in thousands):
		Amortization
	Years Ending December 31,	In-Place Leases		Above Market Leases
	2015	$	6,482	$	125
	2016	6,482		125
	2017	6,482		125
	2018	6,482		125
	2019	6,482		125

Credit_Facilities_and_Notes_Pa1

Credit Facilities and Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Schedule of maturities long-term debt	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt for the five years and thereafter subsequent to year ended December 31, 2014 (in thousands):
	Annual Maturities			Principal Repayments
	2015			$	—
	2016			30,000
	2017			—
	2018			165,816
	2019			200,000
	Thereafter			35,100
	Total			$	430,916
Schedule of debt	The following table summarizes the debt activity for the year ended December 31, 2014 (in thousands):
						During the Year Ended December 31, 2014
		Balance as of				Debt Issuance		Repayments			Balance as of December 31, 2014
		December 31, 2013
	Fixed rate debt	$	—			$	35,100	$	—		$	35,100
	Credit facility	—				427,731		(61,915		)	365,816
	Line of credit with affiliates	—				94,800		(64,800		)	30,000
	Total	$	—			$	557,631	$	(126,715	)	$	430,916

Acquired_Below_Market_Lease_In1

Acquired Below Market Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible liabilities	Acquired below market lease intangibles consisted of the following (in thousands, except weighted average life remaining amounts):
		As of December 31,		As of December 31,
		2014		2013
	Acquired below market lease intangibles, less accumulated amortization of $88 and $0, respectively (with a weighted average life remaining of 12.4 and 0 years, respectively)	$	8,222	$	—
Schedule of finite-lived intangible assets, future amortization expense	Estimated amortization of the intangible lease liabilities as of December 31, 2014 for each of the five succeeding fiscal years is as follows (in thousands):
	Year ended December 31,	Amortization of Below Market Leases
	2015	$	717
	2016	717
	2017	717
	2018	717
	2019	717

RelatedParty_Transactions_and_1

Related-Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Schedule of related party transactions	The Company incurred fees and expense reimbursements as shown in the table below (in thousands) for services provided by CCI II Advisors and its affiliates related to the services described above for the periods indicated.
		2014		2013
	Offering:
	Selling commissions	$	15,829	$	—
	Selling commissions reallowed by CCC	$	15,829	$	—
	Dealer manager fees	$	4,809	$	—
	Dealer manager fees reallowed by CCC	$	2,358	$	—
	Other offering costs	$	4,898	$	—
	The Company recorded fees and expense reimbursements as shown in the table below (in thousands) for services provided by CCI II Advisors and its affiliates related to the services described above during the periods indicated:
		2014		2013
	Acquisition and Operations:
	Acquisition fees and expenses	$	13,170	$	—
	Advisory fees and expenses	$	1,630	$	—
	Operating expenses	$	411	$	—

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Schedule of dividends and distributions	The following table shows the character of the distributions paid on a percentage basis for the year ended December 31, 2014.
		Year Ended December 31,
	Character of Distributions (unaudited):	2014
	Ordinary dividends	55	%
	Nontaxable distributions	45	%
	Total	100	%

Operating_Leases_Tables

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Schedule of future minimum rental payments for operating leases	The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2014 is as follows (in thousands):
	Year ending December 31,	Future Minimum Rental Income
	2015	$	48,986
	2016	48,986
	2017	48,986
	2018	48,986
	2019	48,986
	Thereafter	304,670
	Total	$	549,600

Quarterly_Results_Unaudited_Ta

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	In the opinion of management, the information for the interim period presented includes all adjustments, which are of a normal and recurring nature, necessary to present a fair presentation of the results for each period.
		December 31, 2013
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	—		$	—		$	—		$	—
	Operating loss	$	—		$	—		$	(18	)	$	(82	)
	Net loss	$	—		$	—		$	(18	)	$	(82	)
	Basic and diluted net loss per common share (1)	$	—		$	—		$	(0.99	)	$	(4.39	)
	Distributions declared per common share	$	—		$	—		$	—		$	—
		December 31, 2014
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	458		$	1,428		$	5,589		$	10,371
	Operating loss	$	(523	)	$	(3,927	)	$	(187	)	$	(3,887	)
	Net loss	$	(803	)	$	(4,304	)	$	(1,305	)	$	(6,304	)
	Basic and diluted net loss per common share (1)	$	(0.08	)	$	(0.42	)	$	(0.13	)	$	(0.62	)
	Distributions declared per common share	$	0.15		$	0.16		$	0.16		$	0.18
	(1) Based on the weighted average number of shares outstanding as of December 31, 2013 and December 31, 2014, respectively.

Organization_and_Business_Deta

Organization and Business (Details) (USD $)	10 Months Ended	12 Months Ended	0 Months Ended
	Dec. 31, 2013	Dec. 31, 2014	Feb. 26, 2013	Dec. 04, 2014	Jan. 13, 2013	Apr. 01, 2014	Jan. 14, 2014	Mar. 20, 2013	Sep. 17, 2013	Jan. 13, 2014	Jan. 10, 2014
		states
Organization and business [Line Items]
Due to affiliates	$0	$23,086,000
Common stock, shares authorized (in shares)	490,000,000	490,000,000
Share price (in dollars per share)						$10	$10
Common stock shares issued	20,000	24,650,094
Issuance of common stock	200,000	244,906,000
Number of states in which entity owns properties		15
Percentage of rentable space leased		100.00%
Common Stock
Organization and business [Line Items]
Share price (in dollars per share)								$10
Issuance of common stock, shares (in shares)	20,000	24,631,770	20,000
Issuance of common stock	0	246,000	200,000
CCI II OP
Organization and business [Line Items]
General partner partnership interest percentage		100.00%
Consolidated Properties
Organization and business [Line Items]
Number of real estate properties		23
Gross rentable square feet		7,200,000
RCAP Agreement Case | ARCP
Organization and business [Line Items]
Amount received from settlement				60,000,000
Initial public offering
Organization and business [Line Items]
Common stock, shares authorized (in shares)									250,000,000
Share price (in dollars per share)									$10
Common stock shares issued		24,600,000
Initial public offering | Common Stock
Organization and business [Line Items]
Issuance of common stock		244,900,000
Organization and offering costs, selling commissions and dealer manager fees		25,500,000
Initial public offering | Escrow deposits | Common Stock
Organization and business [Line Items]
Issuance of common stock, shares (in shares)					275,000
Initial public offering | Distribution reinvestment plan
Organization and business [Line Items]
Common stock, shares authorized (in shares)									50,000,000
Share price (in dollars per share)		$9.50							$9.50
Initial public offering | Distribution reinvestment plan | Escrow deposits
Organization and business [Line Items]
Common stock, value, subscriptions										$2,500,000	$2,500,000

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Narrative) (Details) (USD $)	0 Months Ended		10 Months Ended	12 Months Ended
	Apr. 01, 2014	Jan. 14, 2014	Dec. 31, 2013	Dec. 31, 2014	Apr. 01, 2014	Jan. 14, 2014
				financial_institutions
Class of Stock [Line Items]
Allowance for doubtful accounts receivable			$0	$0
Number of financial institutions				2
Amortization of deferred financing costs			0	602,000
Common stock, shares authorized (in shares)			490,000,000	490,000,000
Preferred stock, shares authorized			0	10,000,000
Common stock, par value			$0.01	$0.01
Preferred stock, par value (in usd per share)			$0	$0.01
Common stock, shares outstanding			20,000	24,650,094
Dividend, common stock and preferred stock, number of days in the calendar year for the daily distribution	365 days	365 days
Daily distributions payable amount per share	$0.00	$0.00
Dividends, Yield	6.30%	6.00%
Share price (in dollars per share)	$10	$10			$10	$10
Distributions payable			0	1,314,000
Maximum | Advisors | Other organization and offering expenses
Class of Stock [Line Items]
Organization and offering expense limit, percent				2.00%
Buildings
Class of Stock [Line Items]
Acquired real estate asset, useful life				40 years
Demand Deposits | Credit concentration risk
Class of Stock [Line Items]
Deposits in excess of federally insured levels				$10,600,000
Sales Revenue, Services, Net | Customer concentration risk
Class of Stock [Line Items]
Number of tenants				2
Tenant One | Sales Revenue, Services, Net | Customer concentration risk
Class of Stock [Line Items]
Concentration risk percentage				18.00%
Tenant Two | Sales Revenue, Services, Net | Customer concentration risk
Class of Stock [Line Items]
Concentration risk percentage				13.00%
ALABAMA | Sales Revenue, Services, Net | Geographic concentration risk
Class of Stock [Line Items]
Concentration risk percentage				11.00%
Number of real estate properties				2
ARIZONA | Sales Revenue, Services, Net | Geographic concentration risk
Class of Stock [Line Items]
Concentration risk percentage				18.00%
Number of real estate properties				1
OHIO | Sales Revenue, Services, Net | Geographic concentration risk
Class of Stock [Line Items]
Concentration risk percentage				21.00%
Number of real estate properties				4
Government and Not-for-profit Industry | Sales Revenue, Services, Net | Credit concentration risk
Class of Stock [Line Items]
Concentration risk percentage				10.00%
Logistics Industry [Member] | Sales Revenue, Services, Net | Credit concentration risk
Class of Stock [Line Items]
Concentration risk percentage				11.00%
Manufacturing Industry [Member] | Sales Revenue, Services, Net | Credit concentration risk
Class of Stock [Line Items]
Concentration risk percentage				31.00%
Mining and Natural Resources Industry | Sales Revenue, Services, Net | Credit concentration risk
Class of Stock [Line Items]
Concentration risk percentage				18.00%

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Fair value, inputs, level 2, Affiliated entity, USD $)	Dec. 31, 2014
In Millions, unless otherwise specified
Estimate of fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$431.30
Carrying (reported) amount, fair value disclosure
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$430.90

Real_Estate_Acquisitions_Detai

Real Estate Acquisitions (Details) (USD $)	3 Months Ended								10 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2014
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Total purchase price	$646,516,000									$646,516,000	$646,516,000
Revenues	10,371,000	5,589,000	1,428,000	458,000	0	0	0	0	0	17,846,000
Acquisition related expenses									0	14,726,000
Pro forma basis
Escrowed funds for acquisition of real estate investments									0	60,378,000
Acquisitions, 2014
Business Acquisition [Line Items]
Number of businesses acquired (in properties)										23
Aggregate purchase price										646,500,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	50,549,000									50,549,000	50,549,000
Building and improvements	528,279,000									528,279,000	528,279,000
Revenue since acquisition date										12,700,000
Acquisition related expenses										14,700,000
Pro forma basis
Revenue											53,440,000
Net income											13,618,000
Acquisitions, 2014 | Acquired in-place leases
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Acquired in-place leases	74,436,000									74,436,000	74,436,000
Acquisitions, 2014 | Acquired above-market leases
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Acquired in-place leases	1,562,000									1,562,000	1,562,000
Acquisitions, 2014 | Acquired below-market leases
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Acquired below-market leases	($8,310,000)									($8,310,000)	($8,310,000)

Intangible_Lease_Assets_Detail

Intangible Lease Assets (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets, Net [Abstract]
In-place leases, less accumulated amortization of $1,726 and $0, respectively	$74,272,000	$0
In-place leases, accumulated amortization	1,726,000	0
Acquired in-place leases
Finite-Lived Intangible Assets, Net [Abstract]
In-place leases, less accumulated amortization of $1,726 and $0, respectively	72,710,000	0
In-place leases, accumulated amortization	1,726,000	0
In-place leases, useful life	11 years 4 months 24 days
Amortization of intangible assets	1,700,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2015	6,482,000
2016	6,482,000
2017	6,482,000
2018	6,482,000
2019	6,482,000
Above Market Leases
Finite-Lived Intangible Assets, Net [Abstract]
In-place leases, less accumulated amortization of $1,726 and $0, respectively	1,562,000	0
In-place leases, accumulated amortization	0	0
In-place leases, useful life	12 years 3 months 18 days
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2015	125,000
2016	125,000
2017	125,000
2018	125,000
2019	$125,000

Credit_Facilities_and_Notes_Pa2

Credit Facilities and Notes Payable (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Oct. 31, 2014	Nov. 30, 2013
Debt Instrument [Line Items]
Total debt, ending balance	$430,916,000
Debt, weighted average interest rate	2.74%
Weighted average remaining term	4 years 4 months 24 days
Debt
Fixed rate debt, beginning balance	0
Debt issuance	557,631,000
Debt instrument, decrease, repayments	-126,715,000
Fixed rate debt, ending balance	430,916,000
Line of credit with affiliates, ending balance	30,000,000	0
Underlying collateral pool	591,400,000
Long-term Debt, Fiscal Year Maturity [Abstract]
2015	0
2016	30,000,000
2017	0
2018	165,816,000
2019	200,000,000
Thereafter	35,100,000
Loans Payable | Fixed rate debt
Debt
Fixed rate debt, beginning balance	0
Debt issuance	35,100,000
Debt instrument, decrease, repayments	0
Fixed rate debt, ending balance	35,100,000
Effective interest rate	4.08%
Loans Payable | JPMorgan Chase, Revolving Credit Facility | Term Loan
Debt
Line of credit facility, maximum borrowing capacity	200,000,000
Line of credit
Debt
Fixed rate debt, ending balance	365,800,000
Line of credit facilities, borrowing base calculation, percentage applied to the value of qualified properties	65.00%
Line of credit | JPMorgan Chase, credit facility
Debt
Line of credit facility minimum value of total assets required to avoid early repayment	1,000,000,000
Line of credit | JPMorgan Chase, credit facility | Revolving credit facility
Debt
Fixed rate debt, beginning balance	0
Debt issuance	427,731,000
Debt instrument, decrease, repayments	-61,915,000
Fixed rate debt, ending balance	365,816,000
Line of credit facility, maximum borrowing capacity	200,000,000		100,000,000	225,000,000
Maximum percentage reserved for letters of credit	15.00%
Maximum percentage reserved for short term advances	10.00%
Maximum amount reserved for short term advances	50,000,000
Maximum days outstanding for short term advance	10 days
Line of credit facility potential borrowing capacity	1,250,000,000
Line of credit facility, remaining borrowing capacity	18,600,000
Line of credit | JPMorgan Chase, credit facility | Term Loan and Revolving Line of Credit
Debt
Minimum consolidated net worth required by debt covenant	194,900,000
Line of credit | JPMorgan Chase, credit facility, base rate committed loan
Debt Instrument [Line Items]
Debt, weighted average interest rate	2.64%
Line of credit | JPMorgan Chase, credit facility, base rate committed loan | LIBOR
Debt
Debt instrument, basis spread on variable rate	2.45%
Line of credit | JPMorgan Chase, credit facility, base rate committed loan | Federal Funds Effective Swap Rate
Debt
Debt instrument, basis spread on variable rate	0.50%
Line of credit | Affiliated Line of Credit, Series C, LLC Loan | Revolving credit facility
Debt
Fixed rate debt, beginning balance	0
Debt issuance	94,800,000
Debt instrument, decrease, repayments	-64,800,000
Fixed rate debt, ending balance	30,000,000
Line of credit with affiliates, ending balance	30,000,000
Line of credit facility, current borrowing capacity	60,000,000
Line of credit facility, remaining borrowing capacity	30,000,000
Stated interest rate	2.36%
Line of credit | Affiliated Line of Credit, Series C, LLC Loan | Revolving credit facility | LIBOR
Debt
Debt instrument, basis spread on variable rate	2.20%
Line of credit | JPMorgan Chase, Revolving Credit Facility
Debt
Gross real estate assets, net of gross intangible lease liabilities	$56,900,000
Minimum | Line of credit | JPMorgan Chase, credit facility | Term Loan and Revolving Line of Credit
Debt
Debt covenant leverage ratio	70.00%
Maximum | Line of credit | JPMorgan Chase, credit facility | Term Loan and Revolving Line of Credit
Debt
Debt covenant fixed charge coverage ratio	1.5

Acquired_Below_Market_Lease_In2

Acquired Below Market Lease Intangibles (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible liabilities, net	$8,222	$0
Acquired below-market leases
Finite-Lived Intangible Assets, Net [Abstract]
Finite-lived intangible liabilities, accumulated amortization	0	0
Finite-live intangible liabilities, useful life	12 years 4 months 24 days
Amortization of intangible liabilities	88
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2015	717
2016	717
2017	717
2018	717
2019	$717

RelatedParty_Transactions_and_2

Related-Party Transactions and Arrangements (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Due to affiliates	$23,086,000	$0
Line of credit with affiliates	30,000,000	0
Average invested assets between $0 to $2 billion
Related Party Transaction [Line Items]
Annualized rate percentage paid on average invested asset	0.75%
Average invested assets between $2 billion to $4 billion
Related Party Transaction [Line Items]
Annualized rate percentage paid on average invested asset	0.70%
Average invested assets over $4 bilion
Related Party Transaction [Line Items]
Annualized rate percentage paid on average invested asset	0.65%
Maximum | Average invested assets between $0 to $2 billion
Related Party Transaction [Line Items]
Average invested assets	2,000,000,000
Maximum | Average invested assets between $2 billion to $4 billion
Related Party Transaction [Line Items]
Average invested assets	4,000,000,000
Minimum | Average invested assets between $0 to $2 billion
Related Party Transaction [Line Items]
Average invested assets	0
Minimum | Average invested assets between $2 billion to $4 billion
Related Party Transaction [Line Items]
Average invested assets	2,000,000,000
Minimum | Average invested assets over $4 bilion
Related Party Transaction [Line Items]
Average invested assets	4,000,000,000
Advisors
Related Party Transaction [Line Items]
Cumulative noncompounded annual return	8.00%
Advisors | Minimum
Related Party Transaction [Line Items]
Operating expense reimbursement percent	2.00%
Operating expense reimbursement percent of net income	25.00%
Selling commissions | Dealer manager commission | Maximum
Related Party Transaction [Line Items]
Commissions percentage on stock sales and related dealer manager fees	7.00%
Selling commissions | Advisors
Related Party Transaction [Line Items]
Fees and expense reimbursements from related party services	15,829,000	0
Selling commissions reallowed by cole capital | Dealer manager commission reallowed
Related Party Transaction [Line Items]
Commissions percentage on stock sales and related dealer manager fees	100.00%
Selling commissions reallowed by cole capital | Advisors
Related Party Transaction [Line Items]
Fees and expense reimbursements from related party services	15,829,000	0
Dealer manager fee | Dealer manager
Related Party Transaction [Line Items]
Commissions percentage on stock sales and related dealer manager fees	2.00%
Dealer manager fee | Advisors
Related Party Transaction [Line Items]
Fees and expense reimbursements from related party services	4,809,000	0
Other organization and offering expenses | Advisors
Related Party Transaction [Line Items]
Fees and expense reimbursements from related party services	4,898,000	0
Other organization and offering expenses | Advisors | Maximum
Related Party Transaction [Line Items]
Organization and offering expense limit, percent	2.00%
Acquisition fees and expenses | Advisors
Related Party Transaction [Line Items]
Fees and expense reimbursements from related party services	13,170,000	0
Acquisition fees and expenses | Advisors | Maximum
Related Party Transaction [Line Items]
Acquisition and advisory fee	6.00%
Acquisition fees and expenses | Advisors | Maximum | Contract purchase price of each asset
Related Party Transaction [Line Items]
Acquisition and advisory fee	2.00%
Acquisitions and operations costs | Advisors
Related Party Transaction [Line Items]
Due to affiliate	4,700,000
Property sales commission | Advisors | Contract sale price of each property | Gross revenue for single-tenant properties
Related Party Transaction [Line Items]
Commissions performance and other fees percent	1.00%
Property portfolio | Advisors | Maximum
Related Party Transaction [Line Items]
Commissions performance and other fees percent	6.00%
Performance fee | Advisors
Related Party Transaction [Line Items]
Commissions performance and other fees percent	15.00%
Performance fee | Advisors | Listing commission
Related Party Transaction [Line Items]
Commissions performance and other fees percent	15.00%
Brokerage commission fee | Advisors | Maximum
Related Party Transaction [Line Items]
Commissions performance and other fees percent	50.00%
Dealer manager fee reallowed by cole capital | Advisors
Related Party Transaction [Line Items]
Fees and expense reimbursements from related party services	2,358,000	0
Advisory Fees and Expenses | Advisors
Related Party Transaction [Line Items]
Fees and expense reimbursements from related party services	1,630,000	0
Operating expenses | Advisors
Related Party Transaction [Line Items]
Fees and expense reimbursements from related party services	411,000	0
Revolving credit facility | Affiliated Line of Credit, Series C, LLC Loan | Line of credit
Related Party Transaction [Line Items]
Line of credit with affiliates	30,000,000
Revolving credit facility | Affiliated Line of Credit, Series C, LLC Loan | Line of credit | Series C, LLC
Related Party Transaction [Line Items]
Interest expense due	280,000
Waived fees and expense reimbursements | Advisors
Related Party Transaction [Line Items]
Fees and expense reimbursements from related party services	$1,500,000

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	10 Months Ended	12 Months Ended	0 Months Ended	10 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2014	Feb. 26, 2013	Dec. 31, 2013	Dec. 31, 2013	Apr. 01, 2014	Jan. 14, 2014	Sep. 17, 2013	Mar. 20, 2013
Equity, Class of Treasury Stock [Line Items]
Common stock, shares authorized (in shares)	490,000,000	490,000,000		490,000,000	490,000,000
Preferred stock, shares authorized	0	10,000,000		0	0
Common stock, par value	$0.01	$0.01		0.01	0.01
Share price (in dollars per share)						$10	$10
Preferred stock, par value (in usd per share)	$0	$0.01		0	0
Dividend reinvestment plan, termination notice period		10 days
Common stock issued through distribution reinvestment plan	$0	$2,833
Stock Repurchased and Retired During Period, Value		17
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding		5.00%
Stock redemption program, redemption price per share, percentage of amount paid per share, after one year		95.00%
Stock redemption program, plan redemption price per share, percentage of amount paid per share, after two year		97.50%
Stock redemption program, plan redemption price per share, percentage of amount paid per share, after three year		100.00%
Stock redemption program, termination notice period		30 days
Maximum
Equity, Class of Treasury Stock [Line Items]
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding		1.25%
Stock redemption program, redemption priority, shares		250
Initial public offering
Equity, Class of Treasury Stock [Line Items]
Common stock, shares authorized (in shares)								250,000,000
Share price (in dollars per share)								$10
Initial public offering | Distribution reinvestment plan
Equity, Class of Treasury Stock [Line Items]
Common stock, shares authorized (in shares)								50,000,000
Share price (in dollars per share)		$9.50						$9.50
Common Stock
Equity, Class of Treasury Stock [Line Items]
Issuance of common stock, shares (in shares)		24,631,770	20,000	20,000
Share price (in dollars per share)									$10
Stock Issued During Period, Shares, Dividend Reinvestment Plan		298,000			0
Common stock issued through distribution reinvestment plan		2,800
Stock Repurchased and Retired During Period, Value		$17
Stock Repurchased and Retired During Period, Shares		1,676

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Ordinary dividends	55.00%
Nontaxable distributions	45.00%
Dividends, Percentage	100.00%
Property, plant and equipment, land and real estate assets, net tax basis	$641,900,000
State and local income tax and franchise tax expense	$110,000

Operating_Leases_Details

Operating Leases (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Leases [Abstract]
Operating Leases of lessor, weighted average remaining lease term	11 years 2 months 12 days
2015	$48,986
2016	48,986
2017	48,986
2018	48,986
2019	48,986
Thereafter	304,670
Total	$549,600

Quarterly_Results_Unaudited_De

Quarterly Results (Unaudited) (Details) (USD $)	3 Months Ended																10 Months Ended		12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2013		Sep. 30, 2013		Jun. 30, 2013		Mar. 31, 2013		Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenues	$10,371		$5,589		$1,428		$458		$0		$0		$0		$0			$0	$17,846
Operating loss	-3,887		-187		-3,927		-523		-82		-18		0		0			-100	-8,524
Net loss	($6,304)		($1,305)		($4,304)		($803)		($82)		($18)		$0		$0		($100)	($100)	($12,716)
Basic and diluted net loss per common share (in dollars per share)	($0.62)	[1]	($0.13)	[1]	($0.42)	[1]	($0.08)	[1]	($4.39)	[1]	($0.99)	[1]	$0	[1]	$0	[1]		($5.38)	($1.25)
Distributions declared per common share (in dollars per share)	$0.18		$0.16		$0.16		$0.15		$0		$0		$0		$0
[1]	Based on the weighted average number of shares outstanding as of December 31, 2013 and December 31, 2014, respectively.

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	10 Months Ended	12 Months Ended	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2014	Mar. 25, 2015	Mar. 27, 2015
Subsequent Event [Line Items]
Issuance of common stock	$200	$244,906
Notes payable	0	430,916
Subsequent Event | Loans Payable | JPMorgan Chase, Revolving Credit Facility | Term Loan
Subsequent Event [Line Items]
Effective interest rate				3.79%
Subsequent Event | Loans Payable | Two Notes Payable Established in Early 2015
Subsequent Event [Line Items]
Notes payable				135,400
Subsequent Event | Loans Payable | Note payable one established in early 2015
Subsequent Event [Line Items]
Effective interest rate				3.35%
Subsequent Event | Loans Payable | Note payable two established in early 2015
Subsequent Event [Line Items]
Effective interest rate				3.29%
Initial public offering | Subsequent Event
Subsequent Event [Line Items]
Issuance of common stock			$263,700
Issuance of common stock (in shares)			26,500,000

Schedule_III_Details

Schedule III (Details) (USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
	single_tenant_property
	multi-tenant_property
Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$35,100,000
Initial Costs to Company
Land	50,549,000
Buildings and Improvements	528,279,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	578,828,000	[1],[2]	0
Accumulated Depreciation	4,574,000	[3],[4]	0
Number of single-tenant commercial properties owned	22
Number of multi-tenant commercial properties owned	1
Aggregate cost for federal income tax purposes	641,900,000
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of period	0		0
Additions
Acquisitions	578,828,000		0
Improvements	0		0
Total additions	578,828,000		0
Deductions
Deductions	0
Cost of real estate sold	0		0
Total deductions	0		0
Balance, end of period	578,828,000	[1],[2]	0
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, beginning of period	0		0
Additions
Acquisitions - Depreciation Expense for Building & Tenant Improvements Acquired	4,574,000		0
Improvements - Depreciation Expense for Tenant Improvements & Building Equipment	0		0
Total additions	4,574,000		0
Deductions
Deductions	0		0
Cost of real estate sold	0		0
Total deductions	0		0
Balance, end of period	4,574,000	[3],[4]	0
Debt, Long-term and Short-term, Combined Amount	430,916,000		0
3 Phoenix, Inc | Wake Forest, NC
Initial Costs to Company
Land	973,000
Buildings and Improvements	8,330,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	9,303,000	[1],[2]
Accumulated Depreciation	62,000	[3],[4]
Deductions
Balance, end of period	9,303,000	[1],[2]
Deductions
Balance, end of period	62,000	[3],[4]
3D Systems | Rock Hill, SC
Initial Costs to Company
Land	780,000
Buildings and Improvements	8,082,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	8,862,000	[1],[2]
Accumulated Depreciation	63,000	[3],[4]
Deductions
Balance, end of period	8,862,000	[1],[2]
Deductions
Balance, end of period	63,000	[3],[4]
Amazon.com, Inc | Petersburg, VA
Initial Costs to Company
Land	3,866,000
Buildings and Improvements	48,404,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	52,270,000	[1],[2]
Accumulated Depreciation	302,000	[3],[4]
Deductions
Balance, end of period	52,270,000	[1],[2]
Deductions
Balance, end of period	302,000	[3],[4]
Amcor Rigid Plastics USA, Inc | Franklin, IN
Initial Costs to Company
Land	1,373,000
Buildings and Improvements	16,530,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	17,903,000	[1],[2]
Accumulated Depreciation	233,000	[3],[4]
Deductions
Balance, end of period	17,903,000	[1],[2]
Deductions
Balance, end of period	233,000	[3],[4]
Amcor Rigid Plastics USA, Inc | Bellevue, OH 1
Initial Costs to Company
Land	611,000
Buildings and Improvements	9,171,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	9,782,000	[1],[2]
Accumulated Depreciation	72,000	[3],[4]
Deductions
Balance, end of period	9,782,000	[1],[2]
Deductions
Balance, end of period	72,000	[3],[4]
Amcor Rigid Plastics USA, Inc | Bellevue, OH 2
Initial Costs to Company
Land	498,000
Buildings and Improvements	7,960,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	8,458,000	[1],[2]
Accumulated Depreciation	62,000	[3],[4]
Deductions
Balance, end of period	8,458,000	[1],[2]
Deductions
Balance, end of period	62,000	[3],[4]
Avnet, Inc | San Antonio, TX
Initial Costs to Company
Land	1,619,000
Buildings and Improvements	9,611,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	11,230,000	[1],[2]
Accumulated Depreciation	13,000	[3],[4]
Deductions
Balance, end of period	11,230,000	[1],[2]
Deductions
Balance, end of period	13,000	[3],[4]
BTS Procter & Gamble Distributing | Union, OH
Initial Costs to Company
Land	3,537,000
Buildings and Improvements	68,961,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	72,498,000	[1],[2]
Accumulated Depreciation	74,000	[3],[4]
Deductions
Balance, end of period	72,498,000	[1],[2]
Deductions
Balance, end of period	74,000	[3],[4]
County of Santa Clara | San Jose, CA
Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	14,314,000
Initial Costs to Company
Land	4,561,000
Buildings and Improvements	17,508,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	22,069,000	[1],[2]
Accumulated Depreciation	471,000	[3],[4]
Deductions
Balance, end of period	22,069,000	[1],[2]
Deductions
Balance, end of period	471,000	[3],[4]
E.I. Dupont de Nemours and Company | Johnston, CO
Initial Costs to Company
Land	1,587,000
Buildings and Improvements	33,027,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	34,614,000	[1],[2]
Accumulated Depreciation	39,000	[3],[4]
Deductions
Balance, end of period	34,614,000	[1],[2]
Deductions
Balance, end of period	39,000	[3],[4]
FedEx Ground Package System, Inc | Johnston, CO
Initial Costs to Company
Land	1,285,000
Buildings and Improvements	12,182,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	13,467,000	[1],[2]
Accumulated Depreciation	98,000	[3],[4]
Deductions
Balance, end of period	13,467,000	[1],[2]
Deductions
Balance, end of period	98,000	[3],[4]
FedEx Ground Package System, Inc | St. Joseph, MO
Initial Costs to Company
Land	414,000
Buildings and Improvements	4,304,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	4,718,000	[1],[2]
Accumulated Depreciation	70,000	[3],[4]
Deductions
Balance, end of period	4,718,000	[1],[2]
Deductions
Balance, end of period	70,000	[3],[4]
FedEx Ground Package System, Inc | Fort Dodge, IA
Initial Costs to Company
Land	123,000
Buildings and Improvements	2,414,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	2,537,000	[1],[2]
Accumulated Depreciation	34,000	[3],[4]
Deductions
Balance, end of period	2,537,000	[1],[2]
Deductions
Balance, end of period	34,000	[3],[4]
FedEx Ground Package System, Inc | Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	11,541,000
Initial Costs to Company
Land	1,838,000
Buildings and Improvements	16,439,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	18,277,000	[1],[2]
Accumulated Depreciation	248,000	[3],[4]
Deductions
Balance, end of period	18,277,000	[1],[2]
Deductions
Balance, end of period	248,000	[3],[4]
Freeport-Mcmoran Corporation | Phoenix, AZ
Initial Costs to Company
Land	0
Buildings and Improvements	96,553,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	96,553,000	[1],[2]
Accumulated Depreciation	330,000	[3],[4]
Deductions
Balance, end of period	96,553,000	[1],[2]
Deductions
Balance, end of period	330,000	[3],[4]
Green Mountain Coffee | Burlington, MA
Initial Costs to Company
Land	4,612,000
Buildings and Improvements	31,175,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	35,787,000	[1],[2]
Accumulated Depreciation	495,000	[3],[4]
Deductions
Balance, end of period	35,787,000	[1],[2]
Deductions
Balance, end of period	495,000	[3],[4]
ODW | Columbus, OH
Initial Costs to Company
Land	3,052,000
Buildings and Improvements	22,096,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	25,148,000	[1],[2]
Accumulated Depreciation	325,000	[3],[4]
Deductions
Balance, end of period	25,148,000	[1],[2]
Deductions
Balance, end of period	325,000	[3],[4]
Owens Corning | Fuera Bush, NY
Initial Costs to Company
Land	1,134,000
Buildings and Improvements	10,218,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	11,352,000	[1],[2]
Accumulated Depreciation	129,000	[3],[4]
Deductions
Balance, end of period	11,352,000	[1],[2]
Deductions
Balance, end of period	129,000	[3],[4]
Protein Simple | San Jose, CA
Initial Costs to Company
Land	10,797,000
Buildings and Improvements	21,611,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	32,408,000	[1],[2]
Accumulated Depreciation	138,000	[3],[4]
Deductions
Balance, end of period	32,408,000	[1],[2]
Deductions
Balance, end of period	138,000	[3],[4]
RF Micro Devices | Greensboro, NC
Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	9,245,000
Initial Costs to Company
Land	865,000
Buildings and Improvements	11,155,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	12,020,000	[1],[2]
Accumulated Depreciation	156,000	[3],[4]
Deductions
Balance, end of period	12,020,000	[1],[2]
Deductions
Balance, end of period	156,000	[3],[4]
State of Alabama | Birmingham, AL
Initial Costs to Company
Land	1,950,000
Buildings and Improvements	26,831,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	28,781,000	[1],[2]
Accumulated Depreciation	503,000	[3],[4]
Deductions
Balance, end of period	28,781,000	[1],[2]
Deductions
Balance, end of period	503,000	[3],[4]
Subaru of America | Lebanon, IN
Initial Costs to Company
Land	3,041,000
Buildings and Improvements	27,333,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	30,374,000	[1],[2]
Accumulated Depreciation	396,000	[3],[4]
Deductions
Balance, end of period	30,374,000	[1],[2]
Deductions
Balance, end of period	396,000	[3],[4]
Wyle CAS Group | Huntsville, AL
Initial Costs to Company
Land	2,033,000
Buildings and Improvements	18,384,000
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2014	20,417,000	[1],[2]
Accumulated Depreciation	261,000	[3],[4]
Deductions
Balance, end of period	20,417,000	[1],[2]
Deductions
Balance, end of period	261,000	[3],[4]
Buildings
Deductions
Acquired real estate asset, useful life	40 years
Line of credit
Deductions
Debt, Long-term and Short-term, Combined Amount	$365,800,000
[1]	The following is a reconciliation of total real estate carrying value for the years ended December 31, 2014 and December 31, 2013: Year Ended Year Ended December 31, 2014 December 31, 2013Balance, beginning of period $— $— Additions Acquisitions 578,828 — Improvements — — Total additions 578,828 — Deductions — Cost of real estate sold — — Total deductions — —Balance, end of period $578,828 $—
[2]	The aggregate cost for federal income tax purposes was approximately $641.9 million.
[3]	The following is a reconciliation of accumulated depreciation for the years ended December 31, 2014 and December 31, 2013: Year Ended Year Ended December 31, 2014 December 31, 2013Balance, beginning of period $— $— Additions Acquisitions - Depreciation Expense for Building & Tenant Improvements Acquired 4,574 — Improvements - Depreciation Expense for Tenant Improvements & Building Equipment — — Total additions 4,574 — Deductions — — Cost of real estate sold — — Total deductions — —Balance, end of period $4,574 $—
[4]	The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, tenant improvements are amortized over the respective lease term and buildings are depreciated over 40 years.