Cole Office & Industrial REIT 10-K 30 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2017	Mar. 26, 2018	Jun. 30, 2017
Entity Information [Line Items]
Entity Registrant Name	Cole Office & Industrial REIT (CCIT II), Inc.
Entity Central Index Key	1,572,758
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 700.1
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		64.9
Class T Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2.5

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Real estate assets:
Land	$ 102,055	$ 92,248
Buildings and improvements	997,738	912,830
Intangible lease assets	124,952	114,183
Total real estate assets, at cost	1,224,745	1,119,261
Less: accumulated depreciation and amortization	(99,882)	(61,939)
Total real estate assets, net	1,124,863	1,057,322
Cash and cash equivalents	4,845	6,993
Restricted cash	1,431	3,443
Rents and tenant receivables	23,321	18,124
Derivative assets, prepaid expenses and other assets	3,679	1,665
Deferred costs, net	760	1,537
Total assets	1,158,899	1,089,084
LIABILITIES AND STOCKHOLDERS’ EQUITY
Credit facility and notes payable, net	599,771	501,152
Accounts payable and accrued expenses	6,897	6,146
Due to affiliates	1,274	2,490
Intangible lease liabilities, net	23,783	26,112
Distributions payable	3,589	3,566
Deferred rental income and other liabilities	4,231	4,364
Total liabilities	639,545	543,830
Commitments and contingencies
Redeemable common stock	27,765	25,001
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized, none issued and outstanding	0	0
Capital in excess of par value	583,279	583,297
Accumulated distributions in excess of earnings	(95,306)	(64,609)
Accumulated other comprehensive income	2,942	894
Total stockholders’ equity	491,589	520,253
Total liabilities, redeemable common stock and stockholders’ equity	1,158,899	1,089,084
Class A Common Stock
STOCKHOLDERS’ EQUITY
Common stock	649	647
Class T Common Stock
STOCKHOLDERS’ EQUITY
Common stock	$ 25	$ 24

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	245,000,000	245,000,000
Common stock, shares issued (in shares)	64,884,543	64,688,321
Common stock, shares outstanding (in shares)	64,884,543	64,688,321
Class T Common Stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	245,000,000	245,000,000
Common stock, shares issued (in shares)	2,515,860	2,447,532
Common stock, shares outstanding (in shares)	2,515,860	2,447,532

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Rental income	$ 92,349	$ 77,390	$ 55,415
Tenant reimbursement income	11,313	9,821	5,833
Assignment fee income	0	0	12,767
Total revenues	103,662	87,211	74,015
Operating expenses:
General and administrative	4,760	5,023	4,126
Property operating	5,875	5,088	3,432
Real estate tax	7,954	7,109	4,694
Advisory fees and expenses	10,292	8,527	5,929
Acquisition-related	2,215	4,824	7,561
Depreciation and amortization	37,990	31,994	23,380
Total operating expenses	69,086	62,565	49,122
Operating income	34,576	24,646	24,893
Other income (expense):
Interest expense and other, net	(22,826)	(20,642)	(18,053)
Net income	11,750	4,004	6,840
Class A Common Stock
Other income (expense):
Net income	$ 11,509	$ 4,011	$ 6,840
Net income (loss) per common share:
Basic and diluted weighted average number of common shares outstanding(in shares)	65,204,087	57,105,755	31,204,356
Basic and diluted net income (loss) per common share (in dollars per share)	$ 0.18	$ 0.07	$ 0.22
Distributions declared per common share (in dollars per share)	$ 0.63	$ 0.63	$ 0.63
Class T Common Stock
Other income (expense):
Net income	$ 241	$ (7)	$ 0
Net income (loss) per common share:
Basic and diluted weighted average number of common shares outstanding(in shares)	2,489,306	999,019	0
Basic and diluted net income (loss) per common share (in dollars per share)	$ 0.10	$ (0.01)	$ 0
Distributions declared per common share (in dollars per share)	$ 0.63	$ 0.40	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 11,750	$ 4,004	$ 6,840
Other comprehensive income (loss):
Unrealized gain (loss) on interest rate swaps	1,319	(1,669)	(2,283)
Amount of loss reclassified from other comprehensive income into income as interest expense	729	2,278	2,568
Total other comprehensive income	2,048	609	285
Total comprehensive income	$ 13,798	$ 4,613	$ 7,125

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Capital in Excess of Par Value	Accumulated Distributions in Excess of Earnings	Accumulated Other Comprehensive Income	Class A Common Stock	Class A Common StockCommon Stock	Class T Common Stock	Class T Common StockCommon Stock
Balance (in shares) at Dec. 31, 2014						24,650,094
Balance at Dec. 31, 2014	$ 197,499	$ 216,491	$ (19,238)	$ 0		$ 246
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)						17,324,511
Issuance of common stock	171,829	171,655				$ 174
Distributions declared	(19,672)		(19,672)
Commissions on stock sales and related dealer manager fees	(13,729)	(13,729)
Other offering costs	$ (3,479)	(3,479)
Redemptions of common stock (in shares)	(193,000)					(193,086)
Redemptions of common stock	$ (1,888)	(1,886)				$ (2)
Changes in redeemable common stock	(8,704)	(8,704)
Comprehensive income	7,125		6,840	285
Balance (in share) at Dec. 31, 2015						41,781,519		0
Balance at Dec. 31, 2015	328,981	360,348	(32,070)	285		$ 418		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)						23,459,386		2,447,532
Issuance of common stock	266,484	266,225				$ 235		$ 24
Distributions declared	(36,543)		(36,543)
Commissions on stock sales and related dealer manager fees	(18,150)	(18,150)
Other offering costs	$ (5,301)	(5,301)
Redemptions of common stock (in shares)	(553,000)					(552,584)
Redemptions of common stock	$ (5,331)	(5,325)				$ (6)
Changes in redeemable common stock	(13,481)	(13,481)
Distribution and stockholder servicing fees	(1,019)	(1,019)
Comprehensive income	4,613		4,004	609
Balance (in share) at Dec. 31, 2016					64,688,321	64,688,321	2,447,532	2,447,532
Balance at Dec. 31, 2016	520,253	583,297	(64,609)	894		$ 647		$ 24
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)						2,080,202		82,060
Issuance of common stock	22,138	22,117				$ 20		$ 1
Distributions declared	$ (42,447)		(42,447)
Redemptions of common stock (in shares)	(1,900,000)					(1,883,980)		(13,732)
Redemptions of common stock	$ (19,389)	(19,371)				$ (18)		$ 0
Changes in redeemable common stock	(2,764)	(2,764)
Comprehensive income	13,798		11,750	2,048
Balance (in share) at Dec. 31, 2017					64,884,543	64,884,543	2,515,860	2,515,860
Balance at Dec. 31, 2017	$ 491,589	$ 583,279	$ (95,306)	$ 2,942		$ 649		$ 25

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 11,750	$ 4,004	$ 6,840
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization, net	35,786	29,866	22,851
Amortization of deferred financing costs	1,409	1,344	1,212
Straight-line rental income	(5,777)	(5,553)	(5,674)
Changes in assets and liabilities:
Rents and tenant receivables	580	(1,217)	(2,259)
Prepaid expenses and other assets	(30)	(13)	(443)
Accounts payable and accrued expenses	1,043	517	2,789
Deferred rental income and other liabilities	(69)	1,135	2,858
Due to affiliates	(1,018)	82	(3,266)
Net cash provided by operating activities	43,674	30,165	24,908
Cash flows from investing activities:
Investment in real estate assets	(93,465)	(197,669)	(237,674)
Real estate developments and capital expenditures	(12,476)	(738)	(25,609)
Earnout liability paid	0	0	(1,120)
Payment of property escrow deposits	(1,600)	(4,932)	(1,868)
Refund of property escrow deposits	1,600	5,432	1,368
Net cash used in investing activities	(105,941)	(197,907)	(264,903)
Cash flows from financing activities:
Proceeds from issuance of common stock	0	247,663	161,237
Redemptions of common stock	(19,389)	(5,331)	(1,888)
Distribution and stockholder servicing fees paid	(198)	(79)	0
Offering costs on issuance of common stock	0	(23,493)	(17,166)
Distributions to stockholders	(20,286)	(16,314)	(8,236)
Proceeds from credit facility and notes payable	131,600	194,980	382,280
Repayment of credit facility and notes payable	(33,600)	(207,749)	(266,882)
Repayment of line of credit with affiliate	0	(30,000)	0
Escrowed investor proceeds	0	(238)	238
Deferred financing costs paid	(20)	(861)	(1,179)
Payment of loan deposits	0	(80)	(1,693)
Refund of loan deposits	0	80	1,743
Net cash provided by financing activities	58,107	158,578	248,454
Net (decrease) increase in cash and cash equivalents and restricted cash	(4,160)	(9,164)	8,459
Cash and cash equivalents and restricted cash, beginning of period	10,436	19,600	11,141
Cash and cash equivalents and restricted cash, end of period	$ 6,276	$ 10,436	$ 19,600

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	ORGANIZATION AND BUSINESS Cole Office & Industrial REIT (CCIT II), Inc. (the “Company”) is a Maryland corporation, incorporated on February 26, 2013, that elected to be taxed, and currently qualifies, as a real estate investment trust (“REIT”) for U.S. federal income tax purposes beginning with its taxable year ended December 31, 2014. The Company is the sole general partner of, and owns, directly or indirectly, 100% of the partnership interests in Cole Corporate Income Operating Partnership II, LP, a Delaware limited partnership. On November 13, 2017, VEREIT Operating Partnership, L.P. (“VEREIT OP”), a former affiliated entity of the Company’s sponsor, CCO Group (as defined below), entered into a Purchase and Sale Agreement with CCA Acquisition, LLC (“CCA”), a newly-formed affiliate of CIM Group, LLC (“CIM”), pursuant to which CCA agreed to acquire all of the issued and outstanding shares of common stock of Cole Capital Advisors, Inc., the direct or indirect owner of Cole Corporate Income Advisors II, LLC (“CCI II Advisors”), Cole Capital Corporation and CREI Advisors, LLC (“CREI Advisors”), the Company’s external advisor, dealer manager and property manager, respectively (the “Transaction”). On February 1, 2018, the Transaction was completed. Immediately following the completion of the Transaction, Cole Capital Advisors, Inc. and the Company’s dealer manager were each converted into Delaware limited liability companies, Cole Capital Advisors, Inc.’s name was changed to CCO Group, LLC, and the Company’s dealer manager’s name was changed to CCO Capital, LLC (“CCO Capital”). As a result of the Transaction, CIM owns and/or controls CCO Group, LLC and its subsidiaries (collectively, “CCO Group”), and CCO Group, LLC owns and controls CCI II Advisors, CCO Capital and CREI Advisors, the Company’s external advisor, dealer manager for the Offering (as defined below) and property manager, respectively. In addition, as part of the Transaction, VEREIT OP and CCO Group, LLC entered into a services agreement (the “Services Agreement”) pursuant to which VEREIT OP will continue to provide certain services to CCO Group and to the Company, Cole Credit Property Trust IV, Inc. (“CCPT IV”), Cole Credit Property Trust V, Inc. (“CCPT V”), Cole Office & Industrial (CCIT III), Inc. (“CCIT III”) and Cole Real Estate Income Strategy (Daily NAV), Inc. (“Cole Income NAV Strategy”) (CCPT IV, CCPT V, CCIT III, Cole Income NAV Strategy and the Company collectively, the “Cole REITs ® ”), including operational real estate support. VEREIT OP will continue to provide such services through March 31, 2019 (or, if later, the date of the last government filing other than a tax filing made by any of the Cole REITs with respect to its 2018 fiscal year) (the “Initial Services Term”) and will provide consulting and research services through December 31, 2023 as requested by CCO Group, LLC. Despite the indirect change of ownership and control of the Company’s advisor, dealer manager, property manager and sponsor, the Company expects that, during the Initial Services Term of the Services Agreement, the advisory, dealer manager and property management services it receives will continue without any material changes in personnel (except as supplemented by the management oversight of CIM personnel) or material change in service procedures. During the Initial Services Term of the Services Agreement, CCO Group, LLC intends to evaluate and effectuate an appropriate transition of VEREIT OP’s services under the Services Agreement to other CIM affiliates or third parties with the goal of ensuring continuity and minimizing disruption. Pursuant to a Registration Statement on Form S-11 (Registration No. 333-187470) (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Securities Act”), and declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 17, 2013, the Company commenced its initial public offering (the “Offering”) on a “best efforts” basis, initially offering up to a maximum of $2.5 billion in shares of a single class of common stock (now referred to as Class A Shares, as defined below) in the primary offering at a price of $10.00 per share, as well as up to $475.0 million in additional shares pursuant to a distribution reinvestment plan (the “Original DRIP”) at a price of $9.50 per share. Effective as of March 4, 2016, the Company changed the designation of its common stock to Class A common stock (the “Class A Shares”) and then reclassified a portion of its Class A Shares as Class T common stock (the “Class T Shares”) pursuant to filings of Articles of Amendment (“Articles of Amendment”) and Articles Supplementary (“Articles Supplementary”) to the Company’s Articles of Amendment and Restatement (collectively, the Articles of Amendment and Restatement, the Articles of Amendment and the Articles Supplementary, as amended and supplemented from time to time, are referred to herein as the “Charter”). All shares of common stock issued and outstanding prior to the filing of the Articles of Amendment and the Articles Supplementary were designated as Class A Shares following the filing of the Articles of Amendment and the Articles Supplementary. The Class A Shares and Class T Shares have similar voting rights, although the amount of the distributions are expected to differ due to the distribution and stockholder servicing fees, as defined in the Charter, that are payable in connection with the Class T Shares. In addition, the Charter provides that, in the event of a liquidation of the Company’s assets, distributions will be allocated between the share classes pursuant to the portion of the aggregate assets available for distribution to each class. Each holder of shares of a particular class of common stock will be entitled to receive, ratably with each other holder of shares of the same class, that portion of such aggregate cash available for distribution as the number of outstanding shares of such class held by such holder as compared to the total number of outstanding shares of such class then outstanding. On March 28, 2016, the Company’s board of directors (the “Board”) adopted an Amended and Restated Distribution Reinvestment Plan (the “Amended and Restated DRIP” and collectively with the Original DRIP, the “DRIP”) in connection with the reinvestment of distributions paid on Class A and Class T Shares. Distributions on Class A Shares are reinvested in Class A Shares and distributions on Class T Shares are reinvested in Class T Shares. The Amended and Restated DRIP became effective as of May 1, 2016. On April 11, 2016, the Company announced that the Board established an estimated per share net asset value (“NAV”) of the Company’s common stock, as of February 29, 2016, of $10.00 per share for purposes of assisting broker-dealers that participated in the Offering in meeting their customer account statement reporting obligations under National Association of Securities Dealers Conduct Rule 2340. As a result, effective April 11, 2016, the Company revised the offering price for Class A Shares pursuant to the primary offering portion of the Offering to be $10.99 per share (representing the $10.00 estimated per share NAV plus applicable selling commissions and dealer manager fees) and revised the offering price of Class A Shares pursuant to the Original DRIP to be $10.00 per share (the estimated per share NAV). In connection with Post-Effective Amendment No. 6 to the Registration Statement, which was declared effective by the SEC on April 29, 2016, the Company began offering up to $1.0 billion , of the $2.5 billion in shares that made up the primary portion of the Offering, in Class T Shares at a price of $10.53 per share in the primary portion of the Offering (representing the $10.00 estimated per share NAV plus selling commissions and dealer manager fees applicable to the Class T Shares), along with up to $1.5 billion in Class A Shares at a price of $10.99 per share in the primary portion of the Offering. The Company also began offering Class T Shares pursuant to the DRIP at a price of $10.00 per share, along with Class A Shares pursuant to the DRIP at a price of $10.00 per share. The Company ceased issuing shares in the Offering on September 17, 2016. The unsold Class A Shares and Class T Shares of $2.3 billion in the aggregate were subsequently deregistered. In addition, the Company registered an aggregate of $120.0 million of Class A Shares and Class T Shares under the DRIP pursuant to a Registration Statement on Form S-3 (Registration No. 333-213306), which was filed with the SEC on August 25, 2016 and automatically became effective with the SEC upon filing (the “DRIP Offering” and collectively with the Offering, the “Offerings”). The Company has continued to issue Class A Shares and Class T Shares under the DRIP Offering. On March 22, 2017, the Board established an estimated per share NAV of the Company’s common stock, as of December 31, 2016, of $10.32 per share for both Class A Shares and Class T Shares. Effective from March 28, 2017 to March 27, 2018, distributions were reinvested under the DRIP Offering at a price of $10.32 per share for both Class A Shares and Class T Shares, the estimated per share NAV as of December 31, 2016, as determined by the Board. No distributions were reinvested in shares of the Company’s common stock under the DRIP between the Board’s establishment of the estimated per share NAV on March 22, 2017 and the March 28, 2017 commencement date. On March 28, 2018 , the Board established an updated estimated per share NAV of our common stock, as of December 31, 2017, of $10.58 per share for both Class A Shares and Class T Shares. As a result, commencing on March 28, 2018, distributions are reinvested under the DRIP Offering at a price of $10.58 per share for both Class A Shares and Class T Shares, the estimated per share NAV as of December 31, 2017, as determined by the Board. In determining the estimated per share NAVs as of February 29, 2016, December 31, 2016 and December 31, 2017, the Board considered information and analysis, including valuation materials that were provided by a third-party valuation expert, information provided by CCI II Advisors, and the estimated per share NAV recommendation made by the valuation committee of the Board, which committee is comprised entirely of independent directors. The Company's estimated per share NAVs are not audited or reviewed by its independent registered public accounting firm. As of December 31, 2017 , the Company had issued approximately 70.0 million shares of common stock in the Offerings for gross offering proceeds of $705.4 million ( $678.8 million in Class A Shares and $26.6 million in Class T Shares) before offering costs, selling commissions and dealer manager fees of $66.2 million . In addition, as of December 31, 2017 , the Company paid distribution and stockholder servicing fees for Class T Shares sold in the primary portion of the Offering of $277,000 and accrued an estimated liability for future distribution and stockholder servicing fees payable of $742,000 . As of December 31, 2017 , the Company owned 36 properties, comprising approximately 11.4 million rentable square feet of income-producing necessity corporate office and industrial properties located in 19 states. As of December 31, 2017 , the rentable square feet at these properties was 100% leased.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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. Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. The Company has chosen to break out real estate developments and capital expenditures of $738,000 from investment in real estate assets of $197.7 million , which was previously reported in total as $198.4 million in the Company’s consolidated statements of cash flows for the year ended December 31, 2016 . In addition, the Company has chosen to break out distribution and stockholder servicing fees paid of $79,000 from offering costs on issuance of common stock of $23.5 million , which was previously reported in total as $23.6 million in the Company’s consolidated statements of cash flows for the year ended December 31, 2016 . These reclassifications had no effect on previously reported totals or subtotals. Additionally, in connection with the adoption of Accounting Standards Update (“ASU”) 2016-15, as defined in “Recent Accounting Pronouncements,” the Company reclassified $1.1 million in contingent consideration payments made after a business combination from cash flows from operating activities to cash flows from investing activities for the year ended December 31, 2015. In connection with the adoption of ASU 2016-18, as defined in “Recent Accounting Pronouncements,” transfers to or from restricted cash which have previously been shown in the Company’s investing activities section of the consolidated statements of cash flows are now required to be shown as part of the total change in cash, cash equivalents and restricted cash in the consolidated statements of cash flows. This change resulted in a decrease in cash flows from investing activities of $1.9 million and $1.5 million during the years ended December 31, 2016 and 2015 , respectively. 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. Real Estate Assets Real estate assets are stated at cost, less accumulated depreciation and amortization. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life. The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Site improvements 15 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term Recoverability of Real Estate Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate 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 years ended December 31, 2017 , 2016 or 2015 . Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease depreciation and amortization of the assets related to the property and 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, 2017 or 2016 . 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 to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases, based in each case on their respective fair values. 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 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- 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, for below-market leases, any bargain renewal periods. 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 lease intangibles 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 leasing commissions, legal and other related expenses 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. Prior to the adoption of ASU 2017-01 (as defined below) in April 2017, contingent consideration arrangements, including amounts funded through an escrow account, were recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value subsequent to acquisition were reflected in the accompanying consolidated statements of operations in acquisition-related fees and expenses. Upon adoption of ASU 2017-01 in April 2017, contingent consideration arrangements for asset acquisitions are recognized when the contingency is resolved. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management. The Company estimates 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 are initially 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 is amortized or accreted 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 materially impact the Company’s results of operations. In April 2017, the Company elected to early adopt ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which clarifies the definition of a business by adding guidance to assist entities in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The Company expects its future acquisitions to qualify as asset acquisitions, and as such, the Company will allocate the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases, based in each case on a relative fair value basis. Additionally, acquisition-related fees and certain acquisition-related expenses related to these asset acquisitions will be capitalized and allocated to tangible and intangible assets and liabilities as described above. Prior to the adoption of ASU 2017-01 in April 2017, all of the Company’s real estate acquisitions were accounted for as business combinations, and as such, acquisition-related expenses related to these business combination acquisitions were expensed as incurred. Prior to April 2017, acquisition-related expenses in the Company’s consolidated statements of operations primarily consisted of legal, deed transfer and other costs related to real estate purchase transactions, including costs incurred for deals that were not consummated. Development Activities Project costs and expenses, including interest incurred, associated with the development, construction and lease-up of a real estate project are capitalized as construction in progress. Once the development and construction of the building is substantially completed, the amounts capitalized to construction in progress are transferred to (i) land and (ii) buildings and improvements, and are depreciated over their respective useful lives. During the year ended December 31, 2017 , the Company capitalized $160,000 of interest expense associated with a completed expansion project. No interest expense associated with the expansion project was capitalized for the year ended December 31, 2016. Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds. The Company deposits cash with several high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit of $250,000. At times, the Company’s cash and cash equivalents may exceed federally insured levels. Although the Company bears risk on amounts in excess of those insured by the FDIC, it has not experienced and does not anticipate any losses due to the high quality of the institutions where the deposits are held. The Company had $1.4 million and $3.4 million in restricted cash as of December 31, 2017 and 2016 , respectively. Included in restricted cash was $1.2 million and $3.3 million held by lenders in lockbox accounts as of December 31, 2017 and 2016 , respectively. As part of certain debt agreements, rents from certain encumbered properties are deposited directly into a lockbox account, from which the monthly debt service payment is disbursed to the lender and the excess is disbursed to the Company. Restricted cash also included $165,000 and $120,000 held by a lender in an escrow account for a certain property in accordance with the associated loan agreement as of December 31, 2017 and 2016 , respectively. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying consolidated balance sheets to the combined amounts shown on the accompanying consolidated statements of cash flows (in thousands): As of December 31, 2017 2016 2015 Cash and cash equivalents $ 4,845 $ 6,993 $ 18,060 Restricted cash 1,431 3,443 1,540 Total cash and cash equivalents and restricted cash shown in the statement of cash flows $ 6,276 $ 10,436 $ 19,600 Distribution and Stockholder Servicing Fees The Company pays CCO Capital a distribution and stockholder servicing fee for Class T Shares that is calculated on a daily basis in the amount of 1/365th of 0.8% of the per share NAV of the Class T Shares that were sold in the primary portion of the Offering. The distribution and stockholder servicing fee is paid monthly in arrears. The aggregate distribution and stockholder servicing fee for Class T Shares will not exceed an amount equal to 4.0% of the total gross offering proceeds of Class T Shares sold in the primary portion of the Offering. The Company will cease paying the distribution and stockholder servicing fee with respect to Class T Shares sold in the Offering at the earliest of: (i) the end of the month in which the transfer agent, on the Company’s behalf, determines that total selling commissions and distribution and stockholder servicing fees paid by a stockholder within his or her individual account would be equal to 7.0% of the stockholder’s total gross investment amount at the time of the purchase of the primary Class T Shares held in such account; (ii) the date on which the aggregate underwriting compensation from all sources equals 10.0% of the gross offering proceeds (i.e., excluding proceeds from sales pursuant to the DRIP portion of the Offering); (iii) the fifth anniversary of the last day of the month in which such Class T Shares were purchased (excluding the offering of shares pursuant to DRIP portion of the Offering) terminates; (iv) the date such Class T Share is no longer outstanding; and (v) the date the Company effects a liquidity event (such as the sale of the Company, the sale of all or substantially all of the Company’s assets, a merger or similar transaction, the listing of the Company’s shares of common stock for trading on a national securities exchange or an alternative strategy that would result in a significant increase in the opportunities for stockholders to dispose of their shares). CCO Capital may, in its discretion, reallow to participating broker-dealers all or a portion of the distribution and stockholder servicing fee for services that such participating broker-dealers perform in connection with the distribution of Class T Shares. An estimated liability for future distribution and stockholder servicing fees payable to CCO Capital was recognized at the time each Class T Share was sold and included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value. Deferred Financing Costs Deferred financing costs represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These costs are amortized to interest expense over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are written off when the associated debt is refinanced or repaid before maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facility, are classified such that the debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. Debt issuance costs related to securing a revolving line of credit are presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facility and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2017 and 2016 , the Company had $760,000 and $1.5 million , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined the financing will not close. Due to Affiliates CCI II Advisors, and certain of its affiliates, received and will continue to receive fees, reimbursements, and compensation in connection with services provided relating to the Offerings and the acquisition, management, financing, and leasing of the properties of the Company. Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the effective portion of the derivative instrument that is designated as a hedge is recorded as other comprehensive income. The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations. Redeemable Common Stock Under the Company’s share redemption program, the Company’s obligation 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 portion of the Offering and the DRIP Offering, 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. 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 earned and collectability is reasonably assured. 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. The Company continually reviews receivables related to rent, including any straight-line rent, and current and future operating expense reimbursement from tenants and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is uncertain, the Company will record an increase in the allowance for uncollectible accounts. As of December 31, 2017 and 2016 , the Company did not have an allowance for uncollectible accounts. Income Taxes The Company elected to be taxed and qualified 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 ended December 31, 2014. The Company will generally 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 maintains its qualification 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) and Distributions Per Share The Company has two classes of common stock. Accordingly, the Company utilizes the two-class method to determine its earnings per share, which results in different earnings per share for each of the classes. Under the two-class method, earnings per share of each class of common stock are computed by dividing the sum of the distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average number of shares for each class of common stock for the respective period. The distributed earnings to Class T Share common stockholders represents distributions declared less the distribution and stockholder servicing fees. Diluted income (loss) per share considers the effect of any potentially dilutive share equivalents, of which the Company had none for each of the years ended December 31, 2017 , 2016 or 2015 . Distributions per share is calculated based on the authorized daily distribution rate. Reportable Segment The Company’s commercial real estate assets 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’s management evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by various standard setting bodies that may have an impact on the Company’s accounting and reporting. Except as otherwise stated below, the Company is currently evaluating the effect that certain of these new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which supersedes the revenue recognition requirements in Revenue Recognition, Accounting Standards Codification (“ASC”) (Topic 605) and will require an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For public business entities, the guidance should be applied to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Companies may use either a full retrospective or a modified retrospective approach to adopt ASU 2014-09. In accordance with the Company’s plan for the adoption of ASU 2014-09, the Company’s implementation team has identified all of the Company’s revenue streams and real estate sales and concluded that upon adoption, there will not be a material impact on the Company’s consolidated financial statements and disclosures. The Company plans to adopt ASU 2014-09 effective January 1, 2018 using the modified retrospective approach. In addition, the Company evaluated controls around the implementation of ASU 2014-09 and has concluded there will be no significant impact on the Company’s control structure. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which will require that a lessee recognize assets and liabilities on the balance sheet for all leases with a lease term of more than 12 months, with the result being the recognition of a right of use asset and a lease liability and the disclosure of key information about the entity’s leasing arrangements. The lessor accounting model under ASU 2016-02 is similar to current guidance; however it limits the capitalization of initial direct leasing costs, such as internally generated costs. ASU 2016-02 retains a distinction between finance leases (i.e., capital leases under current GAAP) and operating leases. The amendments in ASU 2016-02 are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. A modified retrospective approach is required for existing leases that have not expired upon adoption and provides for certain practical expedients. The Company is still evaluating the full impact of ASU 2016-02 on its consolidated financial statements; however, the Company plans to adopt ASU 2016-02 as of January 1, 2019 and anticipates that it will elect a practical expedient offered in ASU 2016-02 that allows an entity to not reassess the following upon adoption (elected as a group): (i) whether an expired or existing contract contains a lease arrangement; (ii) lease classification related to expired or existing lease arrangements; or (iii) whether costs incurred on expired or existing leases qualify as initial direct costs. As a result of the adoption, all leases for which we are the lessee, including ground leases (if any), will be recorded on the Company’s consolidated financial statements as either financing leases or operating leases with a related right of use asset and lease liability. In addition, certain executory and non-lease components, such as common area maintenance, may need to be accounted for separately from the lease component of the lease. Lease components will continue to be recognized on a straight-line basis over the lease term and certain non-lease components will be accounted for under the new revenue recognition guidance in ASU 2014-09 as mentioned above. In January 2018, the FASB proposed amending Topic 842 to allow lessors the option to combine lease and non-lease components when certain criteria are met. ASU No. 2016-01, Financial Instruments (Subtopic 825-10) (“ASU 2016-01”) — The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income (loss), the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the consolidated balance sheets or the accompanying notes to the consolidated financial statements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company will adopt ASU 2016-01 during the first quarter of fiscal year 2018 and does not expect it will have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) (“ASU 2016-13”). ASU 2016-13 is intended to improve financial reporting requiring more timely recognition of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other such commitments. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets and eliminates the “incurred loss” methodology under current GAAP. ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company is currently evaluating the impact this amendment will have on the Company’s consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which is intended to address diversity in practice related to how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted, and requires retrospective adoption unless it is impracticable to apply, in which case it is to be applied prospectively as of the earliest date practicable. The Company adopted ASU 2016-15 during the fourth quarter of fiscal year 2017 and has determined that this standard is releva

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2017
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 under current market conditions. 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: Credit facility and notes payable — 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. Current and prior period liabilities’ carrying and fair values exclude net deferred financing costs. These financial instruments are valued using Level 2 inputs. As of December 31, 2017 , the estimated fair value of the Company’s debt was $603.0 million , compared to the carrying value of $601.5 million . The estimated fair value of the Company’s debt was $503.0 million as of December 31, 2016 , compared to the carrying value on that date of $503.5 million . Derivative instruments — The Company’s derivative instruments are comprised of interest rate swaps. All derivative instruments are carried at fair value and are valued using Level 2 inputs. The fair value of these instruments is determined using interest rate market pricing models. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company’s potential nonperformance risk and the performance risk of the respective counterparties. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. However, as of December 31, 2017 and 2016 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Other financial instruments — The Company considers the carrying values of its cash and cash equivalents, restricted cash, tenant receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable to approximate their fair values because of the short period of time between their origination and their expected realization as well as their highly-liquid nature. Due to the short-term maturities of these instruments, Level 1 inputs are utilized to estimate the fair value of these financial instruments. 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, upon disposition of the financial assets and liabilities. As of December 31, 2017 and 2016 , there have been no transfers of financial assets or liabilities between fair value hierarchy levels. In accordance with the fair value hierarchy described above, the following tables show the fair value of the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of December 31, 2017 and 2016 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2017 (Level 1) (Level 2) (Level 3) Financial assets: Interest rate swaps $ 2,942 $ — $ 2,942 $ — Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2016 (Level 1) (Level 2) (Level 3) Financial asset: Interest rate swap $ 958 $ — $ 958 $ — Financial liabilities: Interest rate swaps $ (64 ) $ — $ (64 ) $ —

Real Estate Assets

Real Estate Assets	12 Months Ended
	Dec. 31, 2017
Real Estate [Abstract]
REAL ESTATE ASSETS	REAL ESTATE ASSETS 2017 Property Acquisitions During the year ended December 31, 2017 , the Company acquired three properties for an aggregate purchase price of $93.5 million (the “ 2017 Acquisitions”). The 2017 Acquisitions were all acquired prior to the adoption of ASU 2017-01 in April 2017 and thus were accounted for as business combinations. The Company funded the 2017 Acquisitions with net proceeds from the Offerings and available borrowings. The Company allocated the purchase price of these properties to the fair value of the assets acquired. The following table summarizes the purchase price allocation for the 2017 Acquisitions (in thousands): 2017 Acquisitions Land $ 9,807 Buildings and improvements 73,379 Acquired in-place leases and other intangibles (1) 10,279 Total purchase price $ 93,465 ___________________________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles is 14.1 years for the 2017 Acquisitions. The Company recorded revenue for the year ended December 31, 2017 of $7.5 million and net income for the year ended December 31, 2017 of $1.5 million related to the 2017 Acquisitions. In addition, the Company recorded $2.1 million of acquisition-related fees and expenses for the year ended December 31, 2017 related to the 2017 Acquisitions. The following table summarizes selected financial information of the Company as if the 2017 Acquisitions were completed on January 1, 2016 , for each period presented below. The table below presents the Company’s estimated revenue and net income, on a pro forma basis, for the years ended December 31, 2017 and 2016 (in thousands): Year Ended December 31, 2017 2016 Pro forma basis (unaudited): Revenue $ 104,646 $ 95,744 Net income $ 14,853 $ 3,542 The unaudited pro forma information for the year ended December 31, 2017 was adjusted to exclude $2.1 million of acquisition-related fees and expenses recorded during such period related to the 2017 Acquisitions. These expenses were instead recognized in the unaudited pro forma information for the year ended December 31, 2016 . 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 2016, nor does it purport to represent the results of future operations. Development Project During the year ended December 31, 2017 , the Company capitalized expenses of $10.5 million as construction in progress associated with a completed expansion project. When the development project was substantially complete in September 2017, the amounts capitalized to construction in progress during the construction period were transferred to buildings and improvements and began depreciating over their respective useful lives. 2016 Property Acquisitions During the year ended December 31, 2016 , the Company acquired four properties for an aggregate purchase price of $197.7 million (the “ 2016 Acquisitions”). The Company accounted for the 2016 Acquisitions as business combinations. The Company funded the 2016 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 for the 2015 Acquisitions (in thousands): 2016 Acquisitions Land $ 23,850 Buildings and improvements 164,528 Acquired in-place leases and other intangibles (1) 14,935 Intangible lease liabilities (2) (5,644 ) Total purchase price $ 197,669 ___________________________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 12.9 years for acquisitions completed during the year ended December 31, 2016 . (2) The weighted average amortization period for acquired intangible lease liabilities was 9.9 years for acquisitions completed during the year ended December 31, 2016 . The Company recorded revenue for the year ended December 31, 2016 of $7.2 million and a net loss for the year ended December 31, 2016 of $1.0 million related to the 2016 Acquisitions. In addition, the Company recorded $4.2 million of acquisition-related fees and expenses for the year ended December 31, 2016 related to the 2016 Acquisitions. The following table summarizes selected financial information of the Company as if the 2016 Acquisitions were completed on January 1, 2015. The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the year ended December 31, 2016 and 2015 (in thousands): Year Ended December 31, 2016 2015 Pro forma basis (unaudited): Revenue $ 98,345 $ 92,384 Net income $ 10,461 $ 8,087 The unaudited pro forma information for the year ended December 31, 2016 was adjusted to exclude $4.2 million of acquisition-related fees and expenses recorded during such period related to the 2016 Acquisitions. These expenses were instead recognized in the unaudited pro forma information for the year ended December 31, 2015 . 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 2015 , nor does it purport to represent the results of future operations. 2015 Property Acquisitions During the year ended December 31, 2015 , the Company acquired seven properties for an aggregate purchase price of $237.7 million (the “ 2015 Acquisitions”). The Company accounted for the 2015 Acquisitions as business combinations. The Company funded the 2015 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 for the 2015 Acquisitions (in thousands): 2015 Acquisitions Land $ 17,849 Buildings and improvements 212,036 Acquired in-place leases and other intangibles (1) 22,956 Intangible lease liabilities (2) (15,167 ) Total purchase price $ 237,674 ___________________________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 13.0 years for acquisitions completed during the year ended December 31, 2015 . (2) The weighted average amortization period for acquired intangible lease liabilities was 14.1 years for acquisitions completed during the year ended December 31, 2015 . The Company recorded revenue for the year ended December 31, 2015 of $5.4 million and a net loss for the year ended December 31, 2015 of $5.1 million related to the 2015 Acquisitions. In addition, the Company recorded $6.7 million of acquisition-related fees and expenses for the year ended December 31, 2015 related to the 2015 Acquisitions. The following table summarizes selected financial information of the Company as if the 2015 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, 2015 and for the period from January 13, 2014 to December 31, 2014 (in thousands): December 31, 2015 Period from January 13, 2014 to December 31, 2014 Pro forma basis (unaudited): Revenue $ 86,999 $ 36,244 Net income (loss) $ 20,700 $ (10,666 ) The unaudited pro forma information for the year ended December 31, 2015 was adjusted to exclude $6.7 million of acquisition–related fees and expenses recorded during such period related to the 2015 Acquisitions. These expenses were instead recognized in the unaudited pro forma information for the year ended December 31, 2014. 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. Assignment of Purchase and Sales Agreement During the year ended December 31, 2015 , the Company, through an assignment from an affiliate of CCI II Advisors, became a party to a purchase and sale agreement (the “PSA”) with a seller to acquire the right to purchase a property. During the same period, the Company assigned its rights in the PSA to a non-affiliated third party and recognized assignment fee income of $12.8 million , net of $520,000 in transaction expenses. Additional Consideration During the year ended December 31, 2015 , the Company paid additional amounts to sellers in conjunction with contingent consideration arrangements related to two properties. The contingent consideration of $1.6 million is included within acquisition-related fees and expenses in the accompanying consolidated statements of operations. Property Concentrations As of December 31, 2017 , three of the Company’s tenants, Keurig Green Mountain , Amazon and Freeport-McMoRan accounted for 13% , 12% and 10% , respectively, of the Company’s 2017 annualized rental income. The Company also had certain geographic concentrations in its property holdings. In particular, as of December 31, 2017 , two of the Company’s properties were located in Arizona , two properties were located in Massachusetts and three properties were located in Ohio , which accounted for 13% , 13% and 12% , respectively, of the Company’s 2017 total annualized rental income. In addition, the Company had tenants in the manufacturing, logistics, wholesale, retail - internet and mining and natural resources industries, which comprised 31% , 13% , 13% , 12% and 10% , respectively, of the Company’s 2017 annualized rental income.

Intangible Lease Assets

Intangible Lease Assets	12 Months Ended
	Dec. 31, 2017
Leases [Abstract]
INTANGIBLE LEASE ASSETS	INTANGIBLE LEASE ASSETS Intangible lease assets consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2017 2016 In-place leases and other intangibles, net of accumulated amortization of $27,932 and $17,682, respectively (with a weighted average life remaining of 9.7 and 10.3 years, respectively) $ 95,459 $ 94,939 Acquired above-market leases, net of accumulated amortization of $391 and $266, respectively (with a weighted average life remaining of 9.3 and 10.4 years, respectively) 1,170 1,296 $ 96,629 $ 96,235 Amortization of the above-market leases is recorded as a reduction to rental revenue, and amortization expense for the in-place leases and other intangibles is included in depreciation and amortization in the accompanying consolidated statements of operations. The following table summarizes the amortization expense related to the intangible lease assets for the years ended December 31, 2017 , 2016 and 2015 (in thousands): Year Ended December 31, 2017 2016 2015 In-place lease and other intangible amortization $ 10,423 $ 8,904 $ 7,052 Above-market lease amortization $ 125 $ 125 $ 141 Estimated amortization expense related to the intangible lease assets as of December 31, 2017 for each of the five succeeding fiscal years is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases 2018 $ 10,416 $ 125 2019 $ 10,416 $ 125 2020 $ 10,416 $ 125 2021 $ 10,416 $ 125 2022 $ 10,416 $ 125

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, the Company uses certain types of derivative instruments for the purpose of managing or hedging its interest rate risk. The Company did not enter into any interest rate swap agreements during the year ended December 31, 2017 . As of December 31, 2017 , the Company had three interest rate swap agreements. The following table summarizes the terms of the Company’s executed interest rate swap agreements designated as hedging instruments as of December 31, 2017 and 2016 (in thousands): Outstanding Notional Amounts as of December 31, 2017 Fair Value of Assets as of Balance Sheet Location Interest Rates (1) Effective Dates Maturity Dates December 31, 2017 December 31, 2016 Interest Rate Swaps Derivative assets, prepaid expenses and other assets (2) $ 254,070 3.29% to 3.35% 2/10/2015 to 3/19/2015 12/12/2019 to 4/1/2020 $ 2,942 $ 958 ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2017 . (2) As of December 31, 2016 , two of the interest rate swaps with an aggregate outstanding notional amount of $54.1 million were in a liability position with an aggregate fair value balance of $64,000 and are included in deferred rental income and other liabilities in the accompanying consolidated balance sheets. Additional disclosures related to the fair value of the Company’s derivative instruments are included in Note 3 — Fair Value Measurements. The notional amount under the interest rate swap agreements is an indication of the extent of the Company’s involvement in each instrument, but does not represent exposure to credit, interest rate or market risks. Accounting for changes in the fair value of a derivative instrument depends on the intended use and designation of the derivative instrument. The Company designated the interest rate swaps as cash flow hedges in order to hedge the variability of the anticipated cash flows on its variable rate debt. The change in fair value of the effective portion of the derivative instruments that are designated as hedges is recorded in other comprehensive income, with a portion of the amount subsequently reclassified to interest expense as interest payments are made on the Company’s variable rate debt. For the years ended December 31, 2017 , 2016 and 2015 , the amounts reclassified were $729,000 , $2.3 million , and $2.6 million , respectively. During the next 12 months, the Company estimates that an additional $1.0 million will be reclassified from other comprehensive income as an increase to interest expense. Any ineffective portion of the change in fair value of the derivative instruments is recorded in interest expense. There were no portions of the change in the fair value of the interest rate swaps that were considered ineffective during the year ended December 31, 2017 . The Company has agreements with each of its derivative counterparties that contain provisions whereby, if the Company defaults on certain of its unsecured indebtedness, the Company could also be declared in default on its derivative obligations, resulting in an acceleration of payment. If the Company breaches any of these provisions, it could be required to settle its obligations under these agreements at the aggregate termination value of the derivative instruments, inclusive of interest payments and accrued interest. As of December 31, 2017 , all derivative instruments were in an asset position. Therefore, there was no termination value as of December 31, 2017 . In addition, the Company is exposed to credit risk in the event of non-performance by its derivative counterparties. The Company believes it mitigates its credit risk by entering into agreements with creditworthy counterparties. The Company records credit risk valuation adjustments on its interest rate swaps based on the credit quality of the Company and the respective counterparty. There were no termination events or events of default related to the interest rate swaps as of December 31, 2017 .

Notes Payable and Credit Facili

Notes Payable and Credit Facility	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
NOTES PAYABLE AND CREDIT FACILITY	NOTES PAYABLE AND CREDIT FACILITY As of December 31, 2017 , the Company had $599.8 million of debt outstanding, including net deferred financing costs, with a weighted average interest rate of 3.7% and weighted average years to maturity of 2.4 years. The weighted average years to maturity is computed using the scheduled repayment date as specified in each loan agreement where applicable. The weighted average interest rate is computed using the interest rate in effect until the scheduled repayment date. Should a loan not be repaid by its scheduled repayment date, the applicable interest rate will increase as specified in the respective loan agreement until the extended maturity date. The following table summarizes the debt balances as of December 31, 2017 and 2016 , and the debt activity for the year ended December 31, 2017 (in thousands): During the Year Ended December 31, 2017 Balance as of Debt Issuances, Net Repayments Accretion Balance as of December 31, 2017 Fixed rate debt $ 295,545 $ — $ — $ — $ 295,545 Credit facility 208,000 131,600 (33,600 ) — 306,000 Total debt 503,545 131,600 (33,600 ) — 601,545 Deferred costs (1) (2,393 ) — — 619 (1,774 ) Total debt, net $ 501,152 $ 131,600 $ (33,600 ) $ 619 $ 599,771 ____________________________________ (1) Deferred costs relate to mortgage notes payable and the term portion of the credit facility, as discussed in Note 2 — Summary of Significant Accounting Policies. As of December 31, 2017 , the fixed rate debt outstanding of $295.5 million included $54.1 million of variable rate debt that is fixed through interest rate swap agreements, which has the effect of fixing the variable interest rate per annum through the maturity date of the variable rate debt. The fixed rate debt has interest rates ranging from 3.3% to 4.8% per annum and matures on various dates from March 2020 to October 2023. As of December 31, 2017 , the fixed rate debt had a weighted average interest rate of 4.1% . The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the fixed rate debt was $488.5 million as of December 31, 2017 . Each of the mortgage notes payable, comprising the fixed rate debt, is secured by the respective properties on which the debt was placed. The Company has an amended, unsecured credit facility (the “Credit Facility”) with JPMorgan Chase Bank, N.A. (“JPMorgan Chase”), as administrative agent, and the lenders under the credit agreement (the “Credit Agreement”), that provides for borrowings of up to $400.0 million , which includes a $200.0 million unsecured term loan (the “Term Loan”) and up to $200.0 million in unsecured revolving loans (the “Revolving Loans”). The Revolving Loans mature on December 12, 2018; however, the Company may elect to extend the maturity date of such loans to December 12, 2019, subject to satisfying certain conditions described in the Credit Agreement. These conditions include providing notice of the election and paying an extension fee of 0.2% of the maximum amount of Revolving Loans. With respect to the Company’s $106.0 million of Revolving Loans maturing within the next year, the Company expects to extend the maturity date or enter into new financing arrangements in order to meet its debt obligations. The Term Loan matures on December 12, 2019. Depending upon the type of loan specified and overall leverage ratio, the Credit Facility bears interest at (i) the one-month, two-month, three-month or six-month London Interbank Offered Rate (“LIBOR”), multiplied by the statutory reserve rate (the “Eurodollar Rate”), plus an interest rate spread ranging from 1.60% to 2.20% , or (ii) a base rate, ranging from 0.60% to 1.20% , plus the greater of: (a) JPMorgan Chase’s Prime Rate; (b) the Federal Funds Effective Rate (as defined in the Credit Agreement) plus 0.50% ; or (c) the one-month LIBOR multiplied by the statutory reserve rate plus 1.00% . As of December 31, 2017 , the amount outstanding under the Revolving Loans totaled $106.0 million at a weighted average interest rate of 3.5% , and the amount outstanding under the Term Loan totaled $200.0 million , which was subject to an interest rate swap agreement (the “Swapped Term Loan”). The interest rate swap agreement had the effect of fixing the Eurodollar Rate per annum of the Swapped Term Loan. As of December 31, 2017 , the all-in rate for the Swapped Term Loan was 3.3% . The Company had $89.1 million in unused capacity, subject to borrowing availability, as of December 31, 2017 . The Credit Agreement contains provisions with respect to covenants, events of default and remedies customary for facilities of this nature. In particular, the Credit Agreement requires the Company to maintain a minimum consolidated net worth greater than or equal to the sum of (i) $194.0 million plus (ii) 75% of the equity issued from the date of the Credit Agreement, a leverage ratio less than or equal to 60% , a fixed charge coverage ratio equal to or greater than 1.50 , an unsecured debt to unencumbered asset value ratio equal to or less than 60% , an unsecured debt service coverage ratio greater than 1.75 , a secured debt ratio equal to or less than 40% , and recourse debt at less than or equal to 15% of total asset value. The Company believes it was in compliance with the financial covenants of the Credit Agreement, as well as the financial covenants under the Company’s various fixed and variable rate debt agreements, as of December 31, 2017 . On January 27, 2016, Moody’s Investors Services, Inc. downgraded the debt of Freeport Mineral Corporation (“Freeport”), a wholly-owned subsidiary of Freeport-McMoRan Inc. and one of the Company’s tenants at a multi-tenant commercial property that is 99.8% leased to Freeport (the “Freeport Property”). The Freeport Property collateralizes a loan in the principal amount of $71.5 million (the “Freeport Loan”). The Freeport Loan originally provided that in the event Freeport’s credit rating is downgraded below certain thresholds, the Company’s cash flow in excess of approved operating expenses, management fees and debt service payments from Freeport’s lease payments would be swept to a cash management account to be held in reserve for approved leasing expenses. On February 5, 2016, the Company entered into a modification agreement to the Freeport Loan to provide that the lender would accept a letter of credit in lieu of any cash sweep related to the Freeport Loan, and the Company issued a letter of credit for $4.9 million (the “Letter of Credit”). Pursuant to the Letter of Credit, Freeport’s credit rating must be upgraded above certain thresholds before the Company can be released from the Letter of Credit. As of December 31, 2017, the Letter of Credit was still outstanding. The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2017 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2018 $ 106,000 2019 200,000 2020 203,465 2021 35,100 2022 — Thereafter 56,980 Total $ 601,545

Intangible Lease Liabilities

Intangible Lease Liabilities	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE LEASE LIABILITIES	INTANGIBLE LEASE LIABILITIES Intangible lease liabilities consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2017 2016 Acquired below-market lease intangibles, net of accumulated amortization of $5,317 and $3,009, respectively (with a weighted average life remaining of 10.5 and 11.5 years, respectively) $ 23,783 $ 26,112 Amortization of below-market leases is recorded as an increase to rental revenue in the accompanying consolidated statements of operations. The following table summarizes the amortization of the intangible lease liabilities for the years ended December 31, 2017 , 2016 and 2015 (in thousands): Year Ended December 31, 2017 2016 2015 Below-market lease amortization $ 2,329 $ 2,253 $ 669 Estimated amortization of the intangible lease liabilities as of December 31, 2017 for each of the five succeeding fiscal years is as follows (in thousands): Year Ending December 31, Amortization of Below-Market Leases 2018 $ 2,314 2019 $ 2,314 2020 $ 2,314 2021 $ 2,314 2022 $ 2,314

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	12 Months Ended
	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the years ended December 31, 2017 , 2016 and 2015 are as follows (in thousands): Year Ended December 31, 2017 2016 2015 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Distributions declared and unpaid $ 3,589 $ 3,566 $ 2,158 Accrued deferred financing costs $ — $ 7 $ 4 Change in fair value of interest rate swaps $ 2,048 $ 609 $ 285 Change in accrued distribution and stockholder servicing fees $ — $ 1,019 $ — Common stock issued through distribution reinvestment plan $ 22,138 $ 18,821 $ 10,592 Accrued other offering costs due to affiliate $ — $ — $ 42 Accrued capital expenditures $ — $ 285 $ 75 Supplemental Cash Flow Disclosures: Interest paid, net of amounts capitalized $ 21,233 $ 19,323 $ 15,916

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
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 and claims. The Company is not aware of any material pending legal proceedings, other than ordinary routine litigation incidental to the Company’s business, to which the Company is a party or of which the Company’s properties are the subject. Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. In addition, the Company may own or acquire certain properties that are subject to environmental remediation. Generally, the seller of the property, the tenant of the property and/or another third party is responsible for environmental remediation costs related to a property. Additionally, in connection with the purchase of certain properties, the respective sellers and/or tenants may agree to indemnify the Company against future remediation costs. The Company also carries environmental liability insurance on its properties that provides limited coverage for any remediation liability and/or pollution liability for third-party bodily injury and/or property damage claims for which the Company may be liable. The Company is not aware of any environmental matters which it believes are reasonably likely to have a material effect on its results of operations, financial condition or liquidity.

Related-Party Transactions and

Related-Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS The Company has incurred 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. Selling commissions and dealer manager fees In connection with the Offering, which was terminated on September 17, 2016, CCO Capital, the Company’s dealer manager, which is affiliated with CCI II Advisors, received selling commissions of up to 7.0% and 3.0% of gross offering proceeds from the primary portion of the Offering for Class A Shares and Class T Shares, respectively, and before reallowance of selling commissions earned by participating broker-dealers. CCO Capital reallowed 100% of selling commissions earned to participating broker-dealers. In addition, 2.0% of gross offering proceeds from the primary portion of the Offering for both Class A Shares and Class T Shares before reallowance to participating broker-dealers was paid to CCO Capital as a dealer manager fee, all or a portion of which was reallowed to participating broker-dealers in CCO Capital’s sole discretion. No selling commissions or dealer manager fees were paid to CCO Capital or other participating broker-dealers with respect to shares sold pursuant to the DRIP portion of the Offering. Other organization and offering expenses All other organization and offering expenses associated with the sale of the Company’s common stock (excluding selling commissions, dealer manager fees and distribution and stockholder servicing fees) were paid by CCI II Advisors or its affiliates and were reimbursed by the Company up to 2.0% of aggregate gross offering proceeds. A portion of the other organization and offering expenses may be considered to be underwriting compensation. Distribution and stockholder servicing fees The Company pays CCO Capital a distribution and stockholder servicing fee for Class T Shares that is calculated on a daily basis in the amount of 1/365th of 0.8% of the per share NAV of the Class T Shares that were sold in the primary portion of the Offering. The distribution and stockholder servicing fee is paid monthly in arrears from cash flow from operations or, if the Company’s cash flow from operations is not sufficient to pay the distribution and stockholder servicing fee, from borrowings in anticipation of future cash flow. An estimated liability for future distribution and stockholder servicing fees payable to CCC was recognized at the time each Class T Share was sold and included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value. The Company will cease paying the distribution and stockholder servicing fee with respect to Class T Shares at the earliest of (i) the end of the month in which the transfer agent, on behalf of the Company, determines that total selling commissions and distribution and stockholder servicing fees paid by a stockholder within his or her individual account would be equal to 7.0% of the stockholder’s total gross investment amount at the time of the purchase of the primary Class T Shares held in such account; (ii) the date on which the aggregate underwriting compensation from all sources equals 10.0% of the gross proceeds from the sale of the Company’s shares in the Offering, excluding shares sold pursuant to the DRIP portion of the Offering; (iii) the fifth anniversary of the last day of the month in which the Offering (excluding the offering of shares pursuant to the DRIP portion of the Offering) terminates; (iv) the date such Class T Share is no longer outstanding; and (v) the date the Company effects a liquidity event. CCO Capital may, in its discretion, reallow to participating broker-dealers all or a portion of the distribution and stockholder servicing fee for services that such participating broker-dealers perform. No distribution and stockholder servicing fees are paid to CCO Capital or other participating broker-dealers with respect to shares sold pursuant to the DRIP portion of the Offering or the DRIP Offering. Acquisition fees and expenses The Company pays CCI II Advisors or its affiliates acquisition fees of up to 2.0% of: (i) the contract purchase price of each property or asset the Company acquires; (ii) the amount paid in respect of the development, construction or improvement of each asset the Company acquires; (iii) the purchase price of any loan the Company acquires; and (iv) 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, unless otherwise approved by a majority of the Board, including a majority of the Company’s independent directors, as commercially competitive, fair and reasonable to the Company. Advisory fees and expenses The Company pays CCI II Advisors a monthly advisory fee based upon the Company’s monthly average invested assets, which, for those assets acquired prior to January 1, 2017, is based on the estimated market value of such assets used to determine the Company’s estimated per share NAV as of December 31, 2016, as discussed in Note 1 — Organization and Business, and for those assets acquired subsequent to December 31, 2016, is based on the purchase price. The monthly advisory fee is equal to the following amounts: (i) an annualized rate of 0.75% paid on the Company’s average invested assets that are between $0 and $2.0 billion ; (ii) an annualized rate of 0.70% paid on the Company’s average invested assets that are between $2.0 billion and $4.0 billion ; and (iii) an annualized rate of 0.65% paid on the Company’s average invested assets that are over $4.0 billion . Operating expenses The Company reimburses CCI II Advisors or its affiliates for the operating expenses they paid or incurred in connection with the services provided to the Company, subject to the limitation that the Company will not reimburse CCI II Advisors or its affiliates for any amount by which the operating expenses (including the advisory fee) at the end of the four preceding fiscal quarters exceed the greater of (i) 2.0% of average invested assets, or (ii) 25.0% of net income, excluding 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 or its affiliates for the salaries and benefits paid to personnel in connection with the services for which CCI II Advisors or its affiliates receive acquisition fees, and the Company will not reimburse CCI II Advisors for salaries and benefits paid to the Company’s executive officers. Disposition fees 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 one or more properties (or the Company’s entire portfolio), the Company will pay CCI II Advisors or its affiliates a disposition fee in an amount equal to up to one-half of the real estate or brokerage commission paid by the Company to third parties on the sale of such property, not to exceed 1.0% of the contract price of the property sold; provided, however, in no event may the total disposition fees paid to CCI II Advisors, its affiliates, and 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 or its affiliates 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 assets sold. During the years ended December 31, 2017 , 2016 and 2015 , no disposition fees were incurred for any such services provided by CCI II Advisors or its affiliates. Subordinated performance fees 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 stockholders have received, from regular distributions plus special distributions paid from proceeds of such sale, 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 stockholders and the amount of distributions necessary to generate an 8.0% annual cumulative, non-compounded return to stockholders. 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 the years ended December 31, 2017 , 2016 and 2015 , no subordinated performance fees were incurred related to any such events. The Company incurred commissions, fees and expense reimbursements as shown in the table below for services provided by CCI II Advisors and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2017 2016 2015 Selling commissions $ — $ 13,130 $ 10,491 Dealer manager fees $ — $ 5,012 $ 3,238 Other organization and offering costs $ — $ 5,301 $ 3,479 Distribution and stockholder servicing fees (1) $ 198 $ 79 $ — Acquisition fees and expenses (2) $ 2,202 $ 4,415 $ 5,089 Advisory fees and expenses (2) $ 10,292 $ 8,527 $ 5,929 Operating expenses (2) $ 1,520 $ 2,010 $ 1,966 ______________________ (1) Amounts are calculated in accordance with the dealer manager agreement and exclude the estimated liability for future distribution and stockholder servicing fees payable to CCO Capital of $742,000 , which is included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value, as described in Note 2 — Summary of Significant Accounting Policies. (2) During the year ended December 31, 2015 , CCI II Advisors permanently waived its rights to expense reimbursements totaling $297,000 , which is excluded from the table above as the Company is not responsible for these sums. No expense reimbursements were waived during the years ended December 31, 2017 and 2016 . Services Agreement Pursuant to the Services Agreement, VEREIT OP will continue to provide certain services to CCO Group and to the Company, including operational real estate support. VEREIT OP will continue to provide such services through March 31, 2019 (or, if later, the date of the last government filing other than a tax filing made by any of the Cole REITs with respect to its 2018 fiscal year) and will provide consulting and research services through December 31, 2023 as requested by CCO Group, LLC. Despite the indirect change of ownership and control of our advisor, dealer manager, property manager and sponsor, the Company expects that, during the Initial Services Term of the Services Agreement, the advisory, dealer manager and property management services the Company receives will continue without any material changes in personnel (except as supplemented by the management oversight of CIM personnel) or material change in service procedures. During the Initial Services Term of the Services Agreement, CCO Group, LLC intends to evaluate and effectuate an appropriate transition of VEREIT OP’s services under the Services Agreement to other CIM affiliates or third parties with the goal of ensuring continuity and minimizing disruption. Due to Affiliates As of December 31, 2017 and 2016 , $1.3 million and $2.5 million , respectively, was recorded for services and expenses incurred, but not yet reimbursed to CCI II Advisors, or its affiliates. These amounts are primarily for advisory and operating fees and expenses and distribution and stockholder servicing fees payable to CCO Capital. These amounts were included in due to affiliates in the consolidated balance sheets for such periods. Transactions The Company incurred $197,000 and $726,000 of interest expense related to the Series C Loan during the years ended December 31, 2016 and 2015 , respectively. The Company did not incur any interest expense related to the Series C Loan during the year ended December 31, 2017 , as the Series C Loan was repaid in full on its maturity date of June 30, 2016.

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2017
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	ECONOMIC DEPENDENCY Under various agreements, the Company has engaged and may in the future engage CCI II Advisors or 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, as well as other administrative responsibilities for the Company including accounting services and stockholder relations. As a result of these relationships, the Company is dependent upon CCI II Advisors or 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, 2017
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY As of December 31, 2017 and 2016 , the Company was authorized to issue 490.0 million shares of common stock pursuant to the primary offering, consisting of two classes of shares ( 245.0 million Class A Shares and 245.0 million Class T Shares) and 10.0 million shares of preferred stock. As of December 31, 2015 , the Company was authorized to issue 490.0 million shares of common stock (now referred to as Class A Shares) 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, CREInvestments, LLC acquired 20,000 Class A Shares at $10.00 per share. On February 7, 2014, the ownership of such shares was transferred to VEREIT OP. On February 1, 2018, the ownership of such shares was transferred to CCI II Advisors. Pursuant to the Company’s Charter, CCI II Advisors is prohibited from selling the 20,000 Class A Shares that represents the initial investment in the Company for so long as CCO Group remains the Company’s sponsor; provided, however, that CCI II Advisors may transfer ownership of all or a portion of these 20,000 Class A Shares 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. Distributions on Class A Shares are reinvested in Class A Shares and distributions on Class T Shares are reinvested in Class T Shares. Prior to April 11, 2016, the purchase price per share under the DRIP portion of the Offering was $9.50 for Class A Shares. From April 11, 2016 to March 27, 2017, the purchase price per share for both Class A Shares and Class T Shares under the DRIP portion of the Offering and the DRIP Offering was $10.00 per share. On March 22, 2017, the Board established an updated estimated per share NAV of the Company’s common stock, as of December 31, 2016, of $10.32 per share. Therefore, from March 28, 2017 to March 27, 2018, distributions were reinvested in shares of the Company’s common stock pursuant to the DRIP Offering at a price of $10.32 per share for both Class A Shares and Class T Shares, the estimated per share NAV as of December 31, 2016, as determined by the Board. On March 28, 2018 , the Board established an updated estimated per share NAV of the Company’s common stock, as of December 31, 2017, of $10.58 per share. Therefore, commencing March 28, 2018 , distributions will be reinvested in shares of the Company’s common stock pursuant to the DRIP Offering at a price of $10.58 per share for both Class A Shares and Class T Shares, the updated estimated per share NAV as of December 31, 2017, as determined by the Board. 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 years ended December 31, 2017 , 2016 and 2015 , approximately 2.2 million , 1.9 million and 1.1 million shares, respectively, were purchased under the DRIP portion of the Offering or DRIP Offering for $22.1 million , $18.8 million and $10.6 million , respectively, which were recorded as redeemable common stock on the consolidated balance sheets. 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 portion of the Offering and the DRIP Offering. In an effort to accommodate redemption requests throughout the calendar year, the Company intends to limit quarterly redemptions to approximately 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 portion of the Offering and the DRIP Offering. The redemption price per share (other than for shares purchased pursuant to the DRIP portion of the Offering and the DRIP Offering) will depend on the length of time the stockholder has held such shares as follows: after one year from the purchase date, 95% of the most recent estimated per share NAV as determined by the Board; after two years from the purchase date, 97.5% of the most recent estimated per share NAV as determined by the Board; and after three years from the purchase date, 100% of the most recent estimated per share NAV as determined by the Board. The redemption price for shares purchased pursuant to the DRIP portion of the Offering and the DRIP Offering will be 100% of the most recently determined estimated per share NAV. Prior to April 11, 2016, the purchase price paid for each share in the primary portion of the Offering served as the most recent estimated per share value for purposes of the share redemption program. From April 11, 2016 to March 27, 2017, $10.00 per share served as the estimated per share NAV for purposes of the share redemption program. From March 28, 2017 to March 27, 2018, $10.32 per share served as the estimated per share NAV for purposes of the share redemption program. As a result of the Board’s determination of an updated estimated value of the Company’s shares of common stock, the updated estimated per share NAV of $10.58 , as of December 31, 2017 , will serve as the most recent estimated per share NAV for purposes of the share redemption program, effective March 28, 2018 , until such time as the Board determines a new estimated per share NAV. See the discussion of the updated estimated per share NAV of the Company’s common stock effective March 28, 2018 in Note 17 — Subsequent Events. 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 quarterly 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 years ended December 31, 2017 , 2016 and 2015 , the Company redeemed approximately 1.9 million , 553,000 and 193,000 shares under the share redemption program for $19.4 million , $5.3 million and $1.9 million , respectively. During the year ended December 31, 2017 , redemption requests relating to approximately 108,000 shares went unfulfilled. Distributions Payable and Distribution Policy The Board authorized a daily distribution, based on 365 days in the calendar year, of $0.001726027 per Class A Share for stockholders of record as of the close of business on each day of the period commencing on January 1, 2017 and ending on June 30, 2018. The Board authorized a daily distribution on Class T Shares for stockholders of record of such class of shares as of the close of business on each day of the period commencing on January 1, 2017 and ending on June 30, 2018, equal to $0.001726027 per Class T Share, less the per share distribution and stockholder servicing fees that are payable with respect to the Class T Shares (as calculated on a daily basis). As of December 31, 2017 , the Company had distributions payable of $3.6 million .

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
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 nondividend distributions. Nondividend distributions will reduce U.S stockholders’ basis (but not below zero) in their shares. The following table shows the character of the distributions the Company paid on a percentage basis for the years ended December 31, 2017 , 2016 and 2015 : Year Ended December 31, Character of Distributions: 2017 2016 2015 Ordinary dividends 40 % 30 % 87 % Nondividend distributions 60 % 70 % 13 % Total 100 % 100 % 100 % During the years ended December 31, 2017 , 2016 and 2015 , the Company distributed as dividends to its stockholders 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 years ended December 31, 2017 , 2016 and 2015 , the Company incurred state and local income and franchise taxes of $235,000 , $85,000 and $223,000 , respectively, 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 years ended December 31, 2017 , 2016 and 2015 . 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. In December 2017, the Tax Cuts and Jobs Act was signed into law which, in addition to reducing corporate and individual tax rates, eliminates or restricts various deductions. The Tax Cuts and Jobs Act makes numerous large and small changes to the tax rules that do not affect the Company’s REIT qualification rules directly.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2017
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, 2017 , the leases had a weighted-average remaining term of 9.9 years. Certain leases include 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 real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2017 , was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2018 $ 86,012 2019 87,317 2020 88,667 2021 89,867 2022 91,534 Thereafter 468,785 Total $ 912,182

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	QUARTERLY RESULTS (UNAUDITED) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2017 and 2016 (in thousands, except for per share amounts). In the opinion of management, the information for the interim periods 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, 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 25,144 $ 25,282 $ 26,796 $ 26,440 Acquisition-related expenses $ 2,186 $ 28 $ — $ 1 Operating income $ 6,633 $ 8,922 $ 9,785 $ 9,236 Net income $ 1,240 $ 3,208 $ 4,052 $ 3,250 Basic and diluted net income per share - Class A common stock (1) $ 0.02 $ 0.05 $ 0.06 $ 0.05 Distributions declared per common share - Class A common stock $ 0.15 $ 0.16 $ 0.16 $ 0.16 Basic and diluted net (loss) income per share - Class T common stock (1) $ (0.00 ) $ 0.03 $ 0.04 $ 0.03 Distributions declared per common share - Class T common stock $ 0.15 $ 0.16 $ 0.16 $ 0.16 ____________________________________ (1) The Company calculates net income (loss) per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. December 31, 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 20,120 $ 20,749 $ 22,241 $ 24,101 Acquisition-related expenses $ 148 $ 3,162 $ 177 $ 1,337 Operating income $ 6,727 $ 3,633 $ 7,076 $ 7,210 Net income (loss) $ 1,488 $ (1,372 ) $ 1,754 $ 2,134 Basic and diluted net income (loss) per share - Class A common stock (1) $ 0.03 $ (0.02 ) $ 0.03 $ 0.03 Distributions declared per common share - Class A common stock $ 0.15 $ 0.16 $ 0.16 $ 0.16 Basic and diluted net (loss) income per share - Class T common stock (1), (2) $ — $ (0.04 ) $ 0.01 $ 0.01 Distributions declared per common share - Class T common stock (2) $ — $ 0.08 $ 0.16 $ 0.16 ____________________________________ (1) The Company calculates net income (loss) per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. (2) In connection with Post-Effective Amendment No. 6 to the Company’s Registration Statement, which was declared effective by the SEC on April 29, 2016, the Company began offering up to $1.0 billion , of the $2.5 billion in shares that make up the primary portion of the Offering, in Class T Shares, along with up to $1.5 billion in Class A Shares.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The following events occurred subsequent to December 31, 2017 : Redemption of Shares of Common Stock Subsequent to December 31, 2017 , the Company redeemed approximately 529,000 shares for $5.4 million at an average per share price of $10.27 pursuant to the Company’s share redemption program. Management, in its discretion, limited the amount of shares redeemed for the three months ended December 31, 2017 to an amount equal to net proceeds the Company received from the sale of shares pursuant to the DRIP Offering during the respective period. The remaining redemption requests received during the three months ended December 31, 2017 totaling approximately 108,000 shares went unfulfilled. Sale of Cole Capital As described in Note 1 — Organization and Business, on February 1, 2018, the Transaction was completed. Immediately following the completion of the Transaction, Cole Capital Advisors, Inc. and the Company’s dealer manager were each converted into Delaware limited liability companies, Cole Capital Advisors, Inc.’s name was changed to CCO Group, LLC, and the Company’s dealer manager’s name was changed to CCO Capital, LLC. As a result of the Transaction, CIM owns and/or controls CCO Group, LLC and its subsidiaries, and CCO Group, LLC owns and controls CCI II Advisors, CCO Capital and CREI Advisors, the Company’s external advisor, dealer manager for the Offering and property manager, respectively. In addition, as part of the Transaction, VEREIT OP and CCO Group, LLC entered into the Services Agreement pursuant to which VEREIT OP will continue to provide certain services to CCO Group and to the Cole REITs, including operational real estate support. VEREIT OP will continue to provide such services through March 31, 2019 (or, if later, the date of the last government filing other than a tax filing made by any of the Cole REITs with respect to its 2018 fiscal year) and will provide consulting and research services through December 31, 2023 as requested by CCO Group, LLC. Estimated Per Share NAV On March 28, 2018 , the Board established an estimated per share NAV of the Company’s common stock as of December 31, 2017 , of $10.58 per share for both Class A Shares and Class T Shares. Commencing on March 28, 2018 , distributions will be reinvested in shares of the Company’s common stock under the DRIP at a price of $10.58 per share for both Class A Shares and Class T Shares. Distributions on Class A Shares are reinvested in Class A Shares and distributions on Class T Shares are reinvested in Class T Shares. Pursuant to the terms of the Company’s share redemption program, commencing on March 28, 2018 , the updated estimated per share NAV of $10.58 for both Class A Shares and Class T Shares, as of December 31, 2017 , will serve as the most recent estimated value for purposes of the share redemption program, until such time as the Board determines a new estimated per share NAV.

Schedule III - Real Estate Asse

Schedule III - Real Estate Assets And Accumulated Depreciation	12 Months Ended
	Dec. 31, 2017
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION	Gross Amount at Initial Costs to Company Total Which Carried At Accumulated Buildings & Adjustment December 31, 2017 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (d) (e) (f) Acquired Constructed Real Estate Held for Investment the Company has Invested in Under Operating Leases 3 Phoenix, Inc.: Wake Forest, NC (g) $ 973 $ 8,330 $ 2 $ 9,305 $ 700 9/30/2014 2014 3D Systems: Rock Hill, SC (g) 780 8,082 — 8,862 711 9/30/2014 1992 Amazon.com, Inc.: Petersburg, VA $ 32,400 3,866 48,404 — 52,270 4,589 10/15/2014 2012 Ruskin, FL 56,980 13,484 83,455 — 96,939 3,348 6/21/2016 2014 Amcor Rigid Plastics USA, Inc.: Franklin, IN (g) 1,373 16,530 — 17,903 1,521 6/27/2014 1973 Bellevue, OH (g) 1,109 17,131 10,514 28,754 1,592 9/26/2014 1998 Amesbury Truth: Sioux Falls, SD (g) 2,030 14,453 — 16,483 341 2/7/2017 2016 Avnet, Inc.: Phoenix, AZ (g) 4,037 28,738 1,235 34,010 1,216 10/14/2016 1997 San Antonio, TX (g) 1,619 9,611 — 11,230 974 12/19/2014 2014 BTS Procter & Gamble Distributing: Union, OH (g) 3,537 68,961 — 72,498 5,435 12/23/2014 2014 Cott Beverages: Greer, SC (g) 666 11,184 — 11,850 649 11/5/2015 2015 Joplin, MO (g) 571 11,161 — 11,732 740 7/21/2015 2014 County of Santa Clara: San Jose, CA 14,314 4,561 17,508 — 22,069 1,944 1/13/2014 1997 Dometic: Goshen, IN (g) 871 8,794 — 9,665 505 10/1/2015 2005 Dow Chemical: Lake Jackson, TX (g) 1,679 52,140 — 53,819 1,473 1/31/2017 2015 E.I. DuPont de Nemours and Company: Johnston, CO (g) 1,587 33,027 — 34,614 2,869 12/19/2014 2014 Express Scripts: Lincoln Hill, PA (g) 2,873 14,064 — 16,937 1,197 11/9/2015 2015 FedEx Ground Package System, Inc.: St. Joseph, MO (g) 414 4,304 — 4,718 407 5/30/2014 2014 Fort Dodge, IA (g) 123 2,414 — 2,537 223 6/2/2014 2014 Las Vegas, NV 11,541 1,838 16,439 — 18,277 1,619 6/5/2014 2010 Johnstown, CO (g) 1,285 12,182 — 13,467 1,109 9/30/2014 2014 Freeport-McMoRan Corporation: Phoenix, AZ 71,500 — 96,553 — 96,553 8,177 11/4/2014 2010 Fresenius Regional Call Center: Tyler, TX (g) 2,637 16,759 — 19,396 488 12/20/2016 2016 Keurig Green Mountain Coffee: Burlington, MA 21,670 4,612 31,175 — 35,787 3,234 6/30/2014 2013 Burlington, MA 77,895 5,190 116,453 — 121,643 7,766 8/18/2015 2014 Lennar Homes: Houston, TX (g) 1,368 15,045 — 16,413 939 12/9/2015 2015 ODW: Columbus, OH (g) 3,052 22,096 — 25,148 2,123 6/30/2014 1992 Owens Corning: Fuera Bush, NY (g) 1,134 10,218 281 11,633 982 7/29/2014 1986 Gross Amount at Initial Costs to Company Total Which Carried At Accumulated Buildings & Adjustment December 31, 2017 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (d) (e) (f) Acquired Constructed Protein Simple: San Jose, CA (g) $ 10,798 $ 21,611 $ 25 $ 32,434 $ 2,134 10/23/2014 1982 RF Micro Devices: Greensboro, NC $ 9,245 865 11,155 — 12,020 1,018 6/12/2014 1999 SKF USA, Inc.: St. Louis, MO (g) 3,692 35,575 — 39,267 1,519 4/22/2016 2015 State of Alabama: Birmingham, AL (g) 1,950 26,831 144 28,925 2,639 4/30/2014 2010 Subaru of America: Lebanon, IN (g) 3,041 27,333 7,272 37,646 2,960 6/23/2014 2014 Traveler's Insurance: Walnut Creek, CA (g) 6,098 6,786 42 12,926 209 3/24/2017 1983 UPS: Londonderry, NH (g) 6,309 35,337 — 41,646 2,242 9/30/2015 2015 Wyle CAS Group: Huntsville, AL (g) 2,033 18,384 — 20,417 1,967 7/9/2014 2013 TOTAL: $ 295,545 $ 102,055 $ 978,223 $ 19,515 $ 1,099,793 $ 71,559 ____________________________________ (a) As of December 31, 2017 , the Company owned 19 industrial and distribution properties and 17 office properties. (b) The aggregate cost for federal income tax purposes was approximately $1.2 billion . (c) The following is a reconciliation of total real estate carrying value for the years ended December 31, 2017 , December 31, 2016 and December 31, 2015 : Year Ended December 31, 2017 2016 2015 Balance, beginning of period $ 1,005,078 $ 815,755 $ 578,829 Additions Acquisitions 83,186 188,378 229,885 Improvements 11,529 945 7,041 Total additions 94,715 189,323 236,926 Deductions — — — Cost of real estate sold — — — Total deductions — — — Balance, end of period $ 1,099,793 $ 1,005,078 $ 815,755 (d) Gross intangible lease assets of $125.0 million and the associated accumulated amortization of $28.3 million are not reflected in the table above. (e) The following is a reconciliation of accumulated depreciation for the years ended December 31, 2017 , December 31, 2016 and December 31, 2015 : Year Ended December 31, 2017 2016 2014 Balance, beginning of period $ 43,992 $ 20,901 $ 4,574 Additions Acquisitions - Depreciation Expense for Building & Tenant Improvements Acquired 27,384 23,091 16,327 Improvements - Depreciation Expense for Tenant Improvements & Building Equipment 183 — — Total additions 27,567 23,091 16,327 Deductions — — — Cost of real estate sold — — — Total deductions — — — Balance, end of period $ 71,559 $ 43,992 $ 20,901 (f) The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, buildings are depreciated over 40 years, site improvements are amortized over 15 years , and tenant improvements are amortized over the remaining life of the lease or the useful life, whichever is shorter. (g) Part of the Credit Facility’s unencumbered borrowing base. As of December 31, 2017 , the Company had $306.0 million outstanding under the Credit Facility.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
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 and Basis of Presentation	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
Reclassifications	Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. The Company has chosen to break out real estate developments and capital expenditures of $738,000 from investment in real estate assets of $197.7 million , which was previously reported in total as $198.4 million in the Company’s consolidated statements of cash flows for the year ended December 31, 2016 . In addition, the Company has chosen to break out distribution and stockholder servicing fees paid of $79,000 from offering costs on issuance of common stock of $23.5 million , which was previously reported in total as $23.6 million in the Company’s consolidated statements of cash flows for the year ended December 31, 2016 . These reclassifications had no effect on previously reported totals or subtotals. Additionally, in connection with the adoption of Accounting Standards Update (“ASU”) 2016-15, as defined in “Recent Accounting Pronouncements,” the Company reclassified $1.1 million in contingent consideration payments made after a business combination from cash flows from operating activities to cash flows from investing activities for the year ended December 31, 2015. In connection with the adoption of ASU 2016-18, as defined in “Recent Accounting Pronouncements,” transfers to or from restricted cash which have previously been shown in the Company’s investing activities section of the consolidated statements of cash flows are now required to be shown as part of the total change in cash, cash equivalents and restricted cash in the consolidated statements of cash flows. This change resulted in a decrease in cash flows from investing activities of $1.9 million and $1.5 million during the years ended December 31, 2016 and 2015 , respectively.
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.
Real Estate Assets, Recoverability of Real Estate Assets, and Assets Held for Sale	Real Estate Assets Real estate assets are stated at cost, less accumulated depreciation and amortization. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life. The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Site improvements 15 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term Recoverability of Real Estate Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate 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 years ended December 31, 2017 , 2016 or 2015 . Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease depreciation and amortization of the assets related to the property and 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 to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases, based in each case on their respective fair values. 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 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- 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, for below-market leases, any bargain renewal periods. 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 lease intangibles 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 leasing commissions, legal and other related expenses 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. Prior to the adoption of ASU 2017-01 (as defined below) in April 2017, contingent consideration arrangements, including amounts funded through an escrow account, were recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value subsequent to acquisition were reflected in the accompanying consolidated statements of operations in acquisition-related fees and expenses. Upon adoption of ASU 2017-01 in April 2017, contingent consideration arrangements for asset acquisitions are recognized when the contingency is resolved. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management. The Company estimates 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 are initially 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 is amortized or accreted 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 materially impact the Company’s results of operations. In April 2017, the Company elected to early adopt ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which clarifies the definition of a business by adding guidance to assist entities in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The Company expects its future acquisitions to qualify as asset acquisitions, and as such, the Company will allocate the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases, based in each case on a relative fair value basis. Additionally, acquisition-related fees and certain acquisition-related expenses related to these asset acquisitions will be capitalized and allocated to tangible and intangible assets and liabilities as described above. Prior to the adoption of ASU 2017-01 in April 2017, all of the Company’s real estate acquisitions were accounted for as business combinations, and as such, acquisition-related expenses related to these business combination acquisitions were expensed as incurred. Prior to April 2017, acquisition-related expenses in the Company’s consolidated statements of operations primarily consisted of legal, deed transfer and other costs related to real estate purchase transactions, including costs incurred for deals that were not consummated.
Development Activities	Development Activities Project costs and expenses, including interest incurred, associated with the development, construction and lease-up of a real estate project are capitalized as construction in progress. Once the development and construction of the building is substantially completed, the amounts capitalized to construction in progress are transferred to (i) land and (ii) buildings and improvements, and are depreciated over their respective useful lives.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds. The Company deposits cash with several high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit of $250,000. At times, the Company’s cash and cash equivalents may exceed federally insured levels. Although the Company bears risk on amounts in excess of those insured by the FDIC, it has not experienced and does not anticipate any losses due to the high quality of the institutions where the deposits are held. The Company had $1.4 million and $3.4 million in restricted cash as of December 31, 2017 and 2016 , respectively. Included in restricted cash was $1.2 million and $3.3 million held by lenders in lockbox accounts as of December 31, 2017 and 2016 , respectively. As part of certain debt agreements, rents from certain encumbered properties are deposited directly into a lockbox account, from which the monthly debt service payment is disbursed to the lender and the excess is disbursed to the Company.
Distribution and Stockholder Servicing Fees	Distribution and Stockholder Servicing Fees The Company pays CCO Capital a distribution and stockholder servicing fee for Class T Shares that is calculated on a daily basis in the amount of 1/365th of 0.8% of the per share NAV of the Class T Shares that were sold in the primary portion of the Offering. The distribution and stockholder servicing fee is paid monthly in arrears. The aggregate distribution and stockholder servicing fee for Class T Shares will not exceed an amount equal to 4.0% of the total gross offering proceeds of Class T Shares sold in the primary portion of the Offering. The Company will cease paying the distribution and stockholder servicing fee with respect to Class T Shares sold in the Offering at the earliest of: (i) the end of the month in which the transfer agent, on the Company’s behalf, determines that total selling commissions and distribution and stockholder servicing fees paid by a stockholder within his or her individual account would be equal to 7.0% of the stockholder’s total gross investment amount at the time of the purchase of the primary Class T Shares held in such account; (ii) the date on which the aggregate underwriting compensation from all sources equals 10.0% of the gross offering proceeds (i.e., excluding proceeds from sales pursuant to the DRIP portion of the Offering); (iii) the fifth anniversary of the last day of the month in which such Class T Shares were purchased (excluding the offering of shares pursuant to DRIP portion of the Offering) terminates; (iv) the date such Class T Share is no longer outstanding; and (v) the date the Company effects a liquidity event (such as the sale of the Company, the sale of all or substantially all of the Company’s assets, a merger or similar transaction, the listing of the Company’s shares of common stock for trading on a national securities exchange or an alternative strategy that would result in a significant increase in the opportunities for stockholders to dispose of their shares). CCO Capital may, in its discretion, reallow to participating broker-dealers all or a portion of the distribution and stockholder servicing fee for services that such participating broker-dealers perform in connection with the distribution of Class T Shares. An estimated liability for future distribution and stockholder servicing fees payable to CCO Capital was recognized at the time each Class T Share was sold and included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These costs are amortized to interest expense over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are written off when the associated debt is refinanced or repaid before maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facility, are classified such that the debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. Debt issuance costs related to securing a revolving line of credit are presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facility and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2017 and 2016 , the Company had $760,000 and $1.5 million , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined the financing will not close.
Due to Affiliates	Due to Affiliates CCI II Advisors, and certain of its affiliates, received and will continue to receive fees, reimbursements, and compensation in connection with services provided relating to the Offerings and the acquisition, management, financing, and leasing of the properties of the Company.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the effective portion of the derivative instrument that is designated as a hedge is recorded as other comprehensive income. The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations.
Redeemable Common Stock	Redeemable Common Stock Under the Company’s share redemption program, the Company’s obligation 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 portion of the Offering and the DRIP Offering, 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.
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 earned and collectability is reasonably assured. 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. The Company continually reviews receivables related to rent, including any straight-line rent, and current and future operating expense reimbursement from tenants and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is uncertain, the Company will record an increase in the allowance for uncollectible accounts.
Income Taxes	Income Taxes The Company elected to be taxed and qualified 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 ended December 31, 2014. The Company will generally 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 maintains its qualification 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) and Distribution Per Share	Earnings (Loss) and Distributions Per Share The Company has two classes of common stock. Accordingly, the Company utilizes the two-class method to determine its earnings per share, which results in different earnings per share for each of the classes. Under the two-class method, earnings per share of each class of common stock are computed by dividing the sum of the distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average number of shares for each class of common stock for the respective period. The distributed earnings to Class T Share common stockholders represents distributions declared less the distribution and stockholder servicing fees. Diluted income (loss) per share considers the effect of any potentially dilutive share equivalents, of which the Company had none for each of the years ended December 31, 2017 , 2016 or 2015 . Distributions per share is calculated based on the authorized daily distribution rate.
Reportable Segment	Reportable Segment The Company’s commercial real estate assets 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’s management evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by various standard setting bodies that may have an impact on the Company’s accounting and reporting. Except as otherwise stated below, the Company is currently evaluating the effect that certain of these new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which supersedes the revenue recognition requirements in Revenue Recognition, Accounting Standards Codification (“ASC”) (Topic 605) and will require an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For public business entities, the guidance should be applied to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Companies may use either a full retrospective or a modified retrospective approach to adopt ASU 2014-09. In accordance with the Company’s plan for the adoption of ASU 2014-09, the Company’s implementation team has identified all of the Company’s revenue streams and real estate sales and concluded that upon adoption, there will not be a material impact on the Company’s consolidated financial statements and disclosures. The Company plans to adopt ASU 2014-09 effective January 1, 2018 using the modified retrospective approach. In addition, the Company evaluated controls around the implementation of ASU 2014-09 and has concluded there will be no significant impact on the Company’s control structure. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which will require that a lessee recognize assets and liabilities on the balance sheet for all leases with a lease term of more than 12 months, with the result being the recognition of a right of use asset and a lease liability and the disclosure of key information about the entity’s leasing arrangements. The lessor accounting model under ASU 2016-02 is similar to current guidance; however it limits the capitalization of initial direct leasing costs, such as internally generated costs. ASU 2016-02 retains a distinction between finance leases (i.e., capital leases under current GAAP) and operating leases. The amendments in ASU 2016-02 are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. A modified retrospective approach is required for existing leases that have not expired upon adoption and provides for certain practical expedients. The Company is still evaluating the full impact of ASU 2016-02 on its consolidated financial statements; however, the Company plans to adopt ASU 2016-02 as of January 1, 2019 and anticipates that it will elect a practical expedient offered in ASU 2016-02 that allows an entity to not reassess the following upon adoption (elected as a group): (i) whether an expired or existing contract contains a lease arrangement; (ii) lease classification related to expired or existing lease arrangements; or (iii) whether costs incurred on expired or existing leases qualify as initial direct costs. As a result of the adoption, all leases for which we are the lessee, including ground leases (if any), will be recorded on the Company’s consolidated financial statements as either financing leases or operating leases with a related right of use asset and lease liability. In addition, certain executory and non-lease components, such as common area maintenance, may need to be accounted for separately from the lease component of the lease. Lease components will continue to be recognized on a straight-line basis over the lease term and certain non-lease components will be accounted for under the new revenue recognition guidance in ASU 2014-09 as mentioned above. In January 2018, the FASB proposed amending Topic 842 to allow lessors the option to combine lease and non-lease components when certain criteria are met. ASU No. 2016-01, Financial Instruments (Subtopic 825-10) (“ASU 2016-01”) — The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income (loss), the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the consolidated balance sheets or the accompanying notes to the consolidated financial statements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company will adopt ASU 2016-01 during the first quarter of fiscal year 2018 and does not expect it will have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) (“ASU 2016-13”). ASU 2016-13 is intended to improve financial reporting requiring more timely recognition of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other such commitments. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets and eliminates the “incurred loss” methodology under current GAAP. ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company is currently evaluating the impact this amendment will have on the Company’s consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which is intended to address diversity in practice related to how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted, and requires retrospective adoption unless it is impracticable to apply, in which case it is to be applied prospectively as of the earliest date practicable. The Company adopted ASU 2016-15 during the fourth quarter of fiscal year 2017 and has determined that this standard is relevant to its presentation of debt prepayment and debt extinguishment costs and contingent consideration payments made after a business combination. Following the retrospective adoption of this standard, the Company determined these items did not have a material impact on the consolidated statements of cash flows. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”), which provides guidance on the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. In accordance with ASU 2016-18, restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statements of cash flows. The amendments of ASU 2016-18 are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. The Company adopted ASU 2016-18 during the fourth quarter of 2017 and applied the standard retrospectively for all periods presented. Accordingly, for the years ended December 31, 2017, 2016 and 2015, the Company included restricted cash within cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statements of cash flows and removed the change in restricted cash from cash flows from investing activities. This change resulted in a decrease in cash flows from investing activities of $1.9 million during the year ended December 31, 2016 and a decrease of $1.5 million in cash flows from investing activities during the year ended December 31, 2015. In February 2017, the FASB issued ASU No. 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”), which clarifies the following: (1) nonfinancial assets within the scope of Subtopic 610-20 may include nonfinancial assets transferred within a legal entity to a counterparty; (2) an entity should allocate consideration to each distinct asset by applying the guidance in Topic 606 on allocating the transaction price to performance obligations; and (3) entities are required to derecognize a distinct nonfinancial asset or distinct in substance nonfinancial asset in a partial sale transaction when it (a) does not have (or ceases to have) a controlling financial interest in the legal entity that holds the asset in accordance with Subtopic 810 and (b) transfers control of the asset in accordance with Topic 606. The adoption of this standard may result in higher gains on the sale of partial real estate interests, including contributions of nonfinancial assets to a joint venture or other noncontrolling investee, due to recognizing the full gain when the derecognition criteria are met and recording the retained noncontrolling interest at its fair value. ASU 2017-05 is effective for annual periods, and interim periods therein, beginning after December 15, 2017. Early adoption is permitted. The standard is applied prospectively to sales of nonfinancial assets on or after the adoption date. The Company plans to adopt ASU 2017-05 effective January 1, 2018 using the modified retrospective approach and does not expect it will have a material impact on the Company’s consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”). The targeted amendments in this ASU help simplify certain aspects of hedge accounting and result in a more accurate portrayal of the economics of an entity’s risk management activities in its financial statements. This ASU applies to the Company’s interest rate swaps designated as cash flow hedges. Upon adoption of this ASU, all changes in the fair value of highly effective cash flow hedges will be recorded in accumulated other comprehensive income rather than recognized directly in earnings. Under current GAAP, the ineffective portion of the change in fair value of cash flow hedges is recognized directly in earnings. This eliminates the requirement to separately measure and disclose ineffectiveness for qualifying cash flow hedges. ASU 2017-12 is effective for public entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The ASU is required to be adopted using a modified retrospective approach with early adoption permitted. The Company plans to adopt ASU 2017-12 during the first quarter of fiscal year 2018 and does not expect that it will have a material impact on the Company’s consolidated financial statements.
Fair Value Measurement	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 under current market conditions. 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.
Fair Value of Financial Instruments	The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities: Credit facility and notes payable — 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. Current and prior period liabilities’ carrying and fair values exclude net deferred financing costs. These financial instruments are valued using Level 2 inputs. As of December 31, 2017 , the estimated fair value of the Company’s debt was $603.0 million , compared to the carrying value of $601.5 million . The estimated fair value of the Company’s debt was $503.0 million as of December 31, 2016 , compared to the carrying value on that date of $503.5 million . Derivative instruments — The Company’s derivative instruments are comprised of interest rate swaps. All derivative instruments are carried at fair value and are valued using Level 2 inputs. The fair value of these instruments is determined using interest rate market pricing models. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company’s potential nonperformance risk and the performance risk of the respective counterparties. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. However, as of December 31, 2017 and 2016 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Other financial instruments — The Company considers the carrying values of its cash and cash equivalents, restricted cash, tenant receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable to approximate their fair values because of the short period of time between their origination and their expected realization as well as their highly-liquid nature. Due to the short-term maturities of these instruments, Level 1 inputs are utilized to estimate the fair value of these financial instruments.
Environmental Matters	Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. In addition, the Company may own or acquire certain properties that are subject to environmental remediation. Generally, the seller of the property, the tenant of the property and/or another third party is responsible for environmental remediation costs related to a property. Additionally, in connection with the purchase of certain properties, the respective sellers and/or tenants may agree to indemnify the Company against future remediation costs. The Company also carries environmental liability insurance on its properties that provides limited coverage for any remediation liability and/or pollution liability for third-party bodily injury and/or property damage claims for which the Company may be liable. The Company is not aware of any environmental matters which it believes are reasonably likely to have a material effect on its results of operations, financial condition or liquidity.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of reconciliation of cash and cash equivalents and restricted cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying consolidated balance sheets to the combined amounts shown on the accompanying consolidated statements of cash flows (in thousands): As of December 31, 2017 2016 2015 Cash and cash equivalents $ 4,845 $ 6,993 $ 18,060 Restricted cash 1,431 3,443 1,540 Total cash and cash equivalents and restricted cash shown in the statement of cash flows $ 6,276 $ 10,436 $ 19,600
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 Site improvements 15 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of fair value of Company's financial assets and liabilities required to be measured on a recurring basis	In accordance with the fair value hierarchy described above, the following tables show the fair value of the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of December 31, 2017 and 2016 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2017 (Level 1) (Level 2) (Level 3) Financial assets: Interest rate swaps $ 2,942 $ — $ 2,942 $ — Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2016 (Level 1) (Level 2) (Level 3) Financial asset: Interest rate swap $ 958 $ — $ 958 $ — Financial liabilities: Interest rate swaps $ (64 ) $ — $ (64 ) $ —

Real Estate Assets (Tables)

Real Estate Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Real Estate [Abstract]
Schedule of purchase price allocation	The following table summarizes the purchase price allocation for the 2017 Acquisitions (in thousands): 2017 Acquisitions Land $ 9,807 Buildings and improvements 73,379 Acquired in-place leases and other intangibles (1) 10,279 Total purchase price $ 93,465 ___________________________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles is 14.1 years for the 2017 Acquisitions. The following table summarizes the purchase price allocation for the 2015 Acquisitions (in thousands): 2016 Acquisitions Land $ 23,850 Buildings and improvements 164,528 Acquired in-place leases and other intangibles (1) 14,935 Intangible lease liabilities (2) (5,644 ) Total purchase price $ 197,669 ___________________________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 12.9 years for acquisitions completed during the year ended December 31, 2016 . (2) The weighted average amortization period for acquired intangible lease liabilities was 9.9 years for acquisitions completed during the year ended December 31, 2016 .
Business acquisition, pro forma information	The table below presents the Company’s estimated revenue and net income, on a pro forma basis, for the years ended December 31, 2017 and 2016 (in thousands): Year Ended December 31, 2017 2016 Pro forma basis (unaudited): Revenue $ 104,646 $ 95,744 Net income $ 14,853 $ 3,542 The following table summarizes selected financial information of the Company as if the 2015 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, 2015 and for the period from January 13, 2014 to December 31, 2014 (in thousands): December 31, 2015 Period from January 13, 2014 to December 31, 2014 Pro forma basis (unaudited): Revenue $ 86,999 $ 36,244 Net income (loss) $ 20,700 $ (10,666 )

Intangible Lease Assets (Tables

Intangible Lease Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Leases [Abstract]
Schedule of finite-lived intangible assets	Intangible lease assets consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2017 2016 In-place leases and other intangibles, net of accumulated amortization of $27,932 and $17,682, respectively (with a weighted average life remaining of 9.7 and 10.3 years, respectively) $ 95,459 $ 94,939 Acquired above-market leases, net of accumulated amortization of $391 and $266, respectively (with a weighted average life remaining of 9.3 and 10.4 years, respectively) 1,170 1,296 $ 96,629 $ 96,235
Schedule of finite-lived intangible assets amortization expense	The following table summarizes the amortization expense related to the intangible lease assets for the years ended December 31, 2017 , 2016 and 2015 (in thousands): Year Ended December 31, 2017 2016 2015 In-place lease and other intangible amortization $ 10,423 $ 8,904 $ 7,052 Above-market lease amortization $ 125 $ 125 $ 141
Schedule of finite-lived intangible assets, future amortization expense	Estimated amortization expense related to the intangible lease assets as of December 31, 2017 for each of the five succeeding fiscal years is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases 2018 $ 10,416 $ 125 2019 $ 10,416 $ 125 2020 $ 10,416 $ 125 2021 $ 10,416 $ 125 2022 $ 10,416 $ 125

Derivative Instruments and He31

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	The following table summarizes the terms of the Company’s executed interest rate swap agreements designated as hedging instruments as of December 31, 2017 and 2016 (in thousands): Outstanding Notional Amounts as of December 31, 2017 Fair Value of Assets as of Balance Sheet Location Interest Rates (1) Effective Dates Maturity Dates December 31, 2017 December 31, 2016 Interest Rate Swaps Derivative assets, prepaid expenses and other assets (2) $ 254,070 3.29% to 3.35% 2/10/2015 to 3/19/2015 12/12/2019 to 4/1/2020 $ 2,942 $ 958 ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2017 . (2) As of December 31, 2016 , two of the interest rate swaps with an aggregate outstanding notional amount of $54.1 million were in a liability position with an aggregate fair value balance of $64,000 and are included in deferred rental income and other liabilities in the accompanying consolidated balance sheets.

Notes Payable and Credit Faci32

Notes Payable and Credit Facility (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of debt	The following table summarizes the debt balances as of December 31, 2017 and 2016 , and the debt activity for the year ended December 31, 2017 (in thousands): During the Year Ended December 31, 2017 Balance as of Debt Issuances, Net Repayments Accretion Balance as of December 31, 2017 Fixed rate debt $ 295,545 $ — $ — $ — $ 295,545 Credit facility 208,000 131,600 (33,600 ) — 306,000 Total debt 503,545 131,600 (33,600 ) — 601,545 Deferred costs (1) (2,393 ) — — 619 (1,774 ) Total debt, net $ 501,152 $ 131,600 $ (33,600 ) $ 619 $ 599,771 ____________________________________ (1) Deferred costs relate to mortgage notes payable and the term portion of the credit facility, as discussed in Note 2 — Summary of Significant Accounting Policies.
Schedule of maturities of long-term debt	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2017 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2018 $ 106,000 2019 200,000 2020 203,465 2021 35,100 2022 — Thereafter 56,980 Total $ 601,545

Intangible Lease Liabilities (T

Intangible Lease Liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible liabilities	Intangible lease liabilities consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2017 2016 Acquired below-market lease intangibles, net of accumulated amortization of $5,317 and $3,009, respectively (with a weighted average life remaining of 10.5 and 11.5 years, respectively) $ 23,783 $ 26,112
Schedule of amortization expense of below market lease	The following table summarizes the amortization of the intangible lease liabilities for the years ended December 31, 2017 , 2016 and 2015 (in thousands): Year Ended December 31, 2017 2016 2015 Below-market lease amortization $ 2,329 $ 2,253 $ 669
Schedule of finite-lived intangible liabilities, future amortization expense	Estimated amortization of the intangible lease liabilities as of December 31, 2017 for each of the five succeeding fiscal years is as follows (in thousands): Year Ending December 31, Amortization of Below-Market Leases 2018 $ 2,314 2019 $ 2,314 2020 $ 2,314 2021 $ 2,314 2022 $ 2,314

Supplemental Cash Flow Disclo34

Supplemental Cash Flow Disclosures (Tables)	12 Months Ended
	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow disclosures	Supplemental cash flow disclosures for the years ended December 31, 2017 , 2016 and 2015 are as follows (in thousands): Year Ended December 31, 2017 2016 2015 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Distributions declared and unpaid $ 3,589 $ 3,566 $ 2,158 Accrued deferred financing costs $ — $ 7 $ 4 Change in fair value of interest rate swaps $ 2,048 $ 609 $ 285 Change in accrued distribution and stockholder servicing fees $ — $ 1,019 $ — Common stock issued through distribution reinvestment plan $ 22,138 $ 18,821 $ 10,592 Accrued other offering costs due to affiliate $ — $ — $ 42 Accrued capital expenditures $ — $ 285 $ 75 Supplemental Cash Flow Disclosures: Interest paid, net of amounts capitalized $ 21,233 $ 19,323 $ 15,916

Related-Party Transactions an35

Related-Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Schedule of related party transactions	The Company incurred commissions, fees and expense reimbursements as shown in the table below for services provided by CCI II Advisors and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2017 2016 2015 Selling commissions $ — $ 13,130 $ 10,491 Dealer manager fees $ — $ 5,012 $ 3,238 Other organization and offering costs $ — $ 5,301 $ 3,479 Distribution and stockholder servicing fees (1) $ 198 $ 79 $ — Acquisition fees and expenses (2) $ 2,202 $ 4,415 $ 5,089 Advisory fees and expenses (2) $ 10,292 $ 8,527 $ 5,929 Operating expenses (2) $ 1,520 $ 2,010 $ 1,966 ______________________ (1) Amounts are calculated in accordance with the dealer manager agreement and exclude the estimated liability for future distribution and stockholder servicing fees payable to CCO Capital of $742,000 , which is included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value, as described in Note 2 — Summary of Significant Accounting Policies. (2) During the year ended December 31, 2015 , CCI II Advisors permanently waived its rights to expense reimbursements totaling $297,000 , which is excluded from the table above as the Company is not responsible for these sums. No expense reimbursements were waived during the years ended December 31, 2017 and 2016 .

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of dividends and distributions	The following table shows the character of the distributions the Company paid on a percentage basis for the years ended December 31, 2017 , 2016 and 2015 : Year Ended December 31, Character of Distributions: 2017 2016 2015 Ordinary dividends 40 % 30 % 87 % Nondividend distributions 60 % 70 % 13 % Total 100 % 100 % 100 %

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2017
Leases [Abstract]
Schedule of future minimum rental payments for operating leases	The future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2017 , was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2018 $ 86,012 2019 87,317 2020 88,667 2021 89,867 2022 91,534 Thereafter 468,785 Total $ 912,182

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	In the opinion of management, the information for the interim periods 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, 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 25,144 $ 25,282 $ 26,796 $ 26,440 Acquisition-related expenses $ 2,186 $ 28 $ — $ 1 Operating income $ 6,633 $ 8,922 $ 9,785 $ 9,236 Net income $ 1,240 $ 3,208 $ 4,052 $ 3,250 Basic and diluted net income per share - Class A common stock (1) $ 0.02 $ 0.05 $ 0.06 $ 0.05 Distributions declared per common share - Class A common stock $ 0.15 $ 0.16 $ 0.16 $ 0.16 Basic and diluted net (loss) income per share - Class T common stock (1) $ (0.00 ) $ 0.03 $ 0.04 $ 0.03 Distributions declared per common share - Class T common stock $ 0.15 $ 0.16 $ 0.16 $ 0.16 ____________________________________ (1) The Company calculates net income (loss) per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. December 31, 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 20,120 $ 20,749 $ 22,241 $ 24,101 Acquisition-related expenses $ 148 $ 3,162 $ 177 $ 1,337 Operating income $ 6,727 $ 3,633 $ 7,076 $ 7,210 Net income (loss) $ 1,488 $ (1,372 ) $ 1,754 $ 2,134 Basic and diluted net income (loss) per share - Class A common stock (1) $ 0.03 $ (0.02 ) $ 0.03 $ 0.03 Distributions declared per common share - Class A common stock $ 0.15 $ 0.16 $ 0.16 $ 0.16 Basic and diluted net (loss) income per share - Class T common stock (1), (2) $ — $ (0.04 ) $ 0.01 $ 0.01 Distributions declared per common share - Class T common stock (2) $ — $ 0.08 $ 0.16 $ 0.16 ____________________________________ (1) The Company calculates net income (loss) per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. (2) In connection with Post-Effective Amendment No. 6 to the Company’s Registration Statement, which was declared effective by the SEC on April 29, 2016, the Company began offering up to $1.0 billion , of the $2.5 billion in shares that make up the primary portion of the Offering, in Class T Shares, along with up to $1.5 billion in Class A Shares.

Organization and Business (Shar

Organization and Business (Shares offerings) (Details) - USD ($)	Mar. 28, 2017	Feb. 26, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 28, 2018	Sep. 17, 2016	Apr. 29, 2016	Apr. 11, 2016	Apr. 10, 2016	Feb. 29, 2016	Dec. 31, 2014	Sep. 17, 2013
Organization and business [Line Items]
Shares authorized, value								$ 2,500,000,000
Distributions reinvested in common stock	$ 0
Proceeds from issuance of common stock			$ 0	$ 247,663,000	$ 161,237,000
Distribution and servicing fees			277,000
Distribution and stockholder fees payable			$ 742,000
CCI II OP
Organization and business [Line Items]
General partner partnership interest percentage			100.00%
Common Stock
Organization and business [Line Items]
Share price (in dollars per share)		$ 10							$ 10.99
Net asset value per share (in dollars per share)									10		$ 10
Initial public offering | Common Stock
Organization and business [Line Items]
Shares authorized, value								2,500,000,000
Shares deregistered, value							$ 2,300,000,000
Common stock, shares outstanding (in shares)			70,000,000
Proceeds from issuance of common stock			$ 705,400,000
Offering costs and selling commissions			$ 66,200,000
Distribution reinvestment plan
Organization and business [Line Items]
Share price (in dollars per share)	$ 10.32								10	$ 9.50
Distribution reinvestment plan | Common Stock
Organization and business [Line Items]
Shares authorized, value							$ 120,000,000
Share price (in dollars per share)									$ 10
Class A Common Stock
Organization and business [Line Items]
Shares authorized, value								1,500,000,000
Common stock, shares outstanding (in shares)			64,884,543	64,688,321
Class A Common Stock | Common Stock
Organization and business [Line Items]
Issuance of common stock, shares (in shares)		20,000	2,080,202	23,459,386	17,324,511
Common stock, shares outstanding (in shares)			64,884,543	64,688,321	41,781,519							24,650,094
Class A Common Stock | Initial public offering | Common Stock
Organization and business [Line Items]
Shares authorized, value								$ 1,500,000,000					$ 2,500,000,000
Share price (in dollars per share)								$ 10.99					$ 10
Proceeds from issuance of common stock			$ 678,800,000
Class A Common Stock | Distribution reinvestment plan | Common Stock
Organization and business [Line Items]
Shares authorized, value													$ 475,000,000
Share price (in dollars per share)								$ 10					$ 9.50
Net asset value per share (in dollars per share)	10.32			$ 10.32
Class T Common Stock
Organization and business [Line Items]
Shares authorized, value								$ 1,000,000,000
Common stock, shares outstanding (in shares)			2,515,860	2,447,532
Class T Common Stock | Common Stock
Organization and business [Line Items]
Net asset value per share (in dollars per share)								$ 10
Issuance of common stock, shares (in shares)			82,060	2,447,532
Common stock, shares outstanding (in shares)			2,515,860	2,447,532	0
Class T Common Stock | Initial public offering | Common Stock
Organization and business [Line Items]
Shares authorized, value								$ 1,000,000,000
Share price (in dollars per share)								$ 10.53
Proceeds from issuance of common stock			$ 26,600,000
Class T Common Stock | Distribution reinvestment plan | Common Stock
Organization and business [Line Items]
Share price (in dollars per share)								$ 10
Net asset value per share (in dollars per share)	$ 10.32			$ 10.32
Subsequent Event | Class A Common Stock | Distribution reinvestment plan | Common Stock
Organization and business [Line Items]
Share price (in dollars per share)						$ 10.58
Net asset value per share (in dollars per share)						10.58
Subsequent Event | Class T Common Stock | Common Stock
Organization and business [Line Items]
Share price (in dollars per share)						10.58
Net asset value per share (in dollars per share)						10.58
Subsequent Event | Class T Common Stock | Distribution reinvestment plan | Common Stock
Organization and business [Line Items]
Share price (in dollars per share)						10.58
Net asset value per share (in dollars per share)						$ 10.58

Organization and Business (Real

Organization and Business (Real Estate) (Details) ft² in Millions	Dec. 31, 2017ft²statesproperty
Real Estate Properties [Line Items]
Number of states in which entity owns properties | states	19
Percentage of rentable space leased	100.00%
Consolidated Properties
Real Estate Properties [Line Items]
Number of real estate properties | property	36
Net rentable square feet | ft²	11.4

Summary of Significant Accoun41

Summary of Significant Accounting Policies (Reclassifications) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Payments to develop real estate assets	$ 12,476	$ 738	$ 25,609
Payments to acquire real estate	93,465	197,669	237,674
Distribution and stockholder servicing fees paid	198	79	0
Offering costs paid	0	23,493	17,166
Reclassification adjustment relating to adoption of new accounting pronouncement, cash provided by (used in) operating activities	(43,674)	(30,165)	(24,908)
Reclassification adjustment relating to adoption of new accounting pronouncement, cash provided by (used in) financing activities	$ (105,941)	(197,907)	(264,903)
Accounting Standards Update 2016-15
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reclassification adjustment relating to adoption of new accounting pronouncement, cash provided by (used in) operating activities			1,100
Reclassification adjustment relating to adoption of new accounting pronouncement, cash provided by (used in) financing activities			1,100
Accounting Standards Update 2016-18
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reclassification adjustment relating to adoption of new accounting pronouncement, cash provided by (used in) financing activities		(1,900)	$ (1,500)
As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Payments to acquire and develop real estate		198,400
Payments of stock issuance costs		$ 23,600

Summary of Significant Accoun42

Summary of Significant Accounting Policies (Real Estate) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Real Estate Properties [Line Items]
Impairment	$ 0	$ 0	$ 0
Assets held for sale	$ 0	0
Buildings
Real Estate Properties [Line Items]
Acquired real estate asset, useful life (in years)	40 years
Interest costs capitalized	$ 160,000	$ 0
Site improvements
Real Estate Properties [Line Items]
Acquired real estate asset, useful life (in years)	15 years

Summary of Significant Accoun43

Summary of Significant Accounting Policies (Restricted Cash) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 4,845	$ 6,993	$ 18,060
Restricted cash	1,431	3,443	1,540
Total cash and cash equivalents and restricted cash shown in the statement of cash flows	6,276	10,436	$ 19,600	$ 11,141
Restricted Lockbox Accounts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	1,200	3,300
Escrow Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 165	$ 120

Summary of Significant Accoun44

Summary of Significant Accounting Policies (Distribution and Stockholder Servicing Fees) (Details) - Advisors	12 Months Ended
	Dec. 31, 2017
Distribution and stockholder servicing fees
Related Party Transaction [Line Items]
Related party transaction, daily distribution and servicing fee, termination of payments threshold, percentage of total gross investment	7.00%
Related party transaction, daily distribution and servicing fee, termination of payments threshold, percentage of gross proceeds from shares in offering	10.00%
Class T Common Stock
Related Party Transaction [Line Items]
Net asset value, daily accrual rate	0.00219%
Class T Common Stock | Distribution and stockholder servicing fees | Maximum
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	4.00%

Summary of Significant Accoun45

Summary of Significant Accounting Policies (Other Narrative) (Details)	12 Months Ended
	Dec. 31, 2017USD ($)class_of_stocksegmentshares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred costs, net	$ 760,000	$ 1,537,000
Allowance for uncollectible accounts	$ 0	$ 0
Classes of common stock | class_of_stock	2
Antidilutive securities (in shares) | shares	0	0	0
Number of reportable segments | segment	1
Accounting Standards Update 2016-18
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in restricted cash		$ 1,900,000	$ 1,500,000

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - Affiliated entity - Fair value, inputs, level 2 - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Estimate of fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 603	$ 503
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 601.5	$ 503.5

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of fair value of financial assets and liabilities) (Details) - Interest rate swaps - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset	$ 2,942	$ 958
Financial liability		(64)
Fair value, inputs, level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset	0	0
Financial liability		0
Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset	2,942	958
Financial liability		(64)
Fair value, inputs, level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset	$ 0	0
Financial liability		$ 0

Real Estate Assets (Narrative)

Real Estate Assets (Narrative) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2017USD ($)property	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)property
Business Acquisition [Line Items]
Acquisition-related expenses	$ 1	$ 0	$ 28	$ 2,186	$ 1,337	$ 177	$ 3,162	$ 148	$ 2,215	$ 4,824	$ 7,561
Inventory, real estate, land and land development costs capitalized	$ 10,500								10,500
Assignment fee income									$ 0	$ 0	12,767
Transaction expenses related to assignment fee											$ 520
Acquisitions, 2017
Business Acquisition [Line Items]
Number of businesses acquired (in properties) | property									3
Aggregate purchase price									$ 93,500
Revenues									7,500
Net income (loss) since acquisition date									1,500
Acquisition-related expenses									$ 2,100
Acquisitions, 2016
Business Acquisition [Line Items]
Number of businesses acquired (in properties) | property										4
Aggregate purchase price										$ 197,700
Revenues										7,200
Net income (loss) since acquisition date										(1,000)
Acquisition-related expenses										$ 4,200
Acquisitions, 2015
Business Acquisition [Line Items]
Number of businesses acquired (in properties) | property											7
Aggregate purchase price											$ 237,700
Revenues											5,400
Net income (loss) since acquisition date											(5,100)
Acquisition-related expenses											6,700
Contingent acquisitions
Business Acquisition [Line Items]
Acquisition-related expenses											$ 1,600
Number of properties related to contingent consideration arrangements | property											2

Real Estate Assets (Purchase Pr

Real Estate Assets (Purchase Price Allocation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Below market lease, weighted average useful life	10 years 6 months	11 years 6 months
Acquisitions, 2017
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	$ 9,807
Buildings and improvements	73,379
Total purchase price	93,465
Acquisitions, 2017 | Acquired in-place leases
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Acquired leases	$ 10,279
Weighted average useful life	14 years 1 month
Acquisitions, 2016
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land		$ 23,850
Buildings and improvements		164,528
Intangible lease liabilities		(5,644)
Total purchase price		$ 197,669
Below market lease, weighted average useful life		9 years 10 months 25 days
Acquisitions, 2016 | Acquired in-place leases
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Acquired leases		$ 14,935
Weighted average useful life		12 years 10 months 25 days
Acquisitions, 2015
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land			$ 17,849
Buildings and improvements			212,036
Intangible lease liabilities			(15,167)
Total purchase price			$ 237,674
Below market lease, weighted average useful life			14 years 1 month
Acquisitions, 2015 | Acquired in-place leases
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Acquired leases			$ 22,956
Weighted average useful life			13 years

Real Estate Assets (Pro forma B

Real Estate Assets (Pro forma Basis) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Acquisitions, 2017
Pro forma basis
Revenue	$ 104,646	$ 95,744
Net income	$ 14,853	3,542
Acquisitions, 2016
Pro forma basis
Revenue		98,345	$ 92,384
Net income		$ 10,461	8,087
Acquisitions, 2015
Pro forma basis
Revenue			86,999	$ 36,244
Net income			$ 20,700	$ (10,666)

Real Estate Assets (Property Co

Real Estate Assets (Property Concentrations) (Details) - Sales revenue, services, net	12 Months Ended
	Dec. 31, 2017
Keurig Green Mountain | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Amazon | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	12.00%
Freeport-McMoRan | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	10.00%
Arizona | Geographic concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Massachusetts | Geographic concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Ohio | Geographic concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	12.00%
Manufacturing industry | Industry Concentration
Concentration Risk [Line Items]
Concentration risk percentage	31.00%
Logistics industry | Industry Concentration
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Wholesale industry | Industry Concentration
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Retail internet | Industry Concentration
Concentration Risk [Line Items]
Concentration risk percentage	12.00%
Mining and natural resources industry | Industry Concentration
Concentration Risk [Line Items]
Concentration risk percentage	10.00%

Intangible Lease Assets (Detail

Intangible Lease Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Liabilities, Net [Abstract]
Intangible lease assets	$ 96,629	$ 96,235
Accumulated amortization	28,300
Acquired in-place leases
Finite-Lived Intangible Liabilities, Net [Abstract]
Intangible lease assets	95,459	94,939
Accumulated amortization	$ 27,932	$ 17,682
Useful life	9 years 8 months 11 days	10 years 3 months 18 days
Amortization expense	$ 10,423	$ 8,904	$ 7,052
Acquired above-market leases
Finite-Lived Intangible Liabilities, Net [Abstract]
Intangible lease assets	1,170	1,296
Accumulated amortization	$ 391	$ 266
Useful life	9 years 3 months 18 days	10 years 4 months 24 days
Amortization expense	$ 125	$ 125	$ 141

Intangible Lease Assets (Estima

Intangible Lease Assets (Estimated Amortization of Intangible lease assets) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Acquired in-place leases
Finite-Lived Intangible Liabilities, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,018	$ 10,416
2,019	10,416
2,020	10,416
2,021	10,416
2,022	10,416
Acquired above-market leases
Finite-Lived Intangible Liabilities, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,018	125
2,019	125
2,020	125
2,021	125
2,022	$ 125

Derivative Instruments and He54

Derivative Instruments and Hedging Activities (Narrative) (Details)	12 Months Ended
	Dec. 31, 2017USD ($)swap_agreementderivative	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Derivative [Line Items]
Amount of loss reclassified from other comprehensive income into income as interest expense	$ 729,000	$ 2,278,000	$ 2,568,000
Portion of change in fair value of derivative considered ineffective	$ 0
Number of interest rate derivatives terminated | derivative	0
Interest rate swaps
Derivative [Line Items]
Number of instruments held | swap_agreement	3
Cash Flow Hedging | Interest rate swaps
Derivative [Line Items]
Derivative agreement entered during period (in derivatives) | derivative	0
Interest rate cash flow hedge gain (loss) to be reclassified during next twelve months	$ 1,000,000
Derivative liability, event of default, termination amount	$ 0

Derivative Instruments and He55

Derivative Instruments and Hedging Activities (Schedule of derivative instruments) (Details) - Cash Flow Hedging - Interest rate swaps $ in Thousands	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)derivative
Derivative asset, prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Outstanding notional amount	$ 254,070
Fair Value of Asset	$ 2,942	$ 958
Deferred rental income, derivative liabilities and other liabilities
Derivatives, Fair Value [Line Items]
Number of instruments held | derivative		2
Outstanding notional amount		$ 54,100
Fair Value of (Liabilities)		$ (64)
Minimum | Derivative asset, prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Interest rate (percentage)	3.29%
Maximum | Derivative asset, prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Interest rate (percentage)	3.35%

Notes Payable and Credit Faci56

Notes Payable and Credit Facility (Schedule of Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt, weighted average interest rate	3.70%
Weighted average remaining term	2 years 5 months
Debt [Roll Forward]
Long-term debt, gross, beginning balance	$ 503,545
Deferred costs, beginning of period	(2,393)
Total debt, net, beginning of period	501,152
Debt issuances, net	131,600	$ 194,980	$ 382,280
Payments of debt issuance costs	0
Proceeds from debt, net of issuance costs	131,600
Repayments	(33,600)
Accretion	619
Accretion	619
Long-term debt, gross, ending balance	601,545	503,545
Deferred costs, end of period	(1,774)	(2,393)
Total debt, net, end of period	$ 599,771	501,152
Fixed rate debt
Debt Instrument [Line Items]
Debt, weighted average interest rate	4.10%
Debt [Roll Forward]
Long-term debt, gross, beginning balance	$ 295,545
Debt issuances, net	0
Repayments	0
Long-term debt, gross, ending balance	295,545	295,545
Line of credit
Debt [Roll Forward]
Long-term debt, gross, beginning balance	208,000
Debt issuances, net	131,600
Repayments	(33,600)
Long-term debt, gross, ending balance	$ 306,000	$ 208,000

Notes Payable and Credit Faci57

Notes Payable and Credit Facility (Fixed rate debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt outstanding	$ 601,545	$ 503,545
Debt, weighted average interest rate	3.70%
Fixed rate debt
Debt Instrument [Line Items]
Long-term debt outstanding	$ 295,545	$ 295,545
Debt, weighted average interest rate	4.10%
Gross real estate assets, net of gross intangible lease liabilities	$ 488,500
Fixed rate debt | Minimum
Debt Instrument [Line Items]
Interest rate (percentage)	3.285%
Fixed rate debt | Maximum
Debt Instrument [Line Items]
Interest rate (percentage)	4.766%
Variable rate debt | Interest rate swaps
Debt Instrument [Line Items]
Long-term debt outstanding	$ 54,100

Notes Payable and Credit Faci58

Notes Payable and Credit Facility (Credit facility) (Details)	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Line of Credit Facility [Line Items]
Credit facility and notes payable, net	$ 599,771,000	$ 501,152,000
Debt, weighted average interest rate	3.70%
JPMorgan Chase Bank, N.A. | Line of credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 400,000,000
Line of credit facility, remaining available borrowing capacity	89,100,000
Minimum consolidated net worth required by debt covenant	$ 194,000,000
Line of credit facility, covenant, minimum consolidated net worth (percentage)	75.00%
Line of credit facility, covenant, unsecured debt to unencumbered asset value, maximum	60.00%
Line of credit facility, covenant, unsecured debt service coverage ratio, minimum	1.75
JPMorgan Chase Bank, N.A. | Line of credit | Term Loan
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 200,000,000
Credit facility and notes payable, net	$ 200,000,000
Effective interest rate	3.30%
JPMorgan Chase Bank, N.A. | Line of credit | Revolving credit facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 200,000,000
Credit facility, extension of maturity date, extension fee, percent	0.20%
Credit facility and notes payable, net	$ 106,000,000
Debt, weighted average interest rate	3.50%
JPMorgan Chase Bank, N.A. | Minimum | Line of credit
Line of Credit Facility [Line Items]
Interest rate (percentage)	0.60%
Debt covenant fixed charge coverage ratio	1.50
JPMorgan Chase Bank, N.A. | Maximum | Line of credit
Line of Credit Facility [Line Items]
Interest rate (percentage)	1.20%
Debt covenant leverage ratio	60.00%
Line of credit facility, covenant, secured debt ratio	40.00%
Line of credit facility, covenant, recourse debt coverage ratio	15.00%
JPMorgan Chase Bank, N.A. | LIBOR | Minimum | Line of credit
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.60%
JPMorgan Chase Bank, N.A. | LIBOR | Maximum | Line of credit
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2.20%
JPMorgan Chase Bank, N.A. | Federal Funds Effective Rate | Line of credit
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.50%
JPMorgan Chase Bank, N.A. | Statutory Reserve Rate | Line of credit
Line of Credit Facility [Line Items]
Interest rate (percentage)	1.00%

Notes Payable and Credit Faci59

Notes Payable and Credit Facility (Freeport Loan) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Feb. 05, 2016	Jan. 27, 2016
Debt Instrument [Line Items]
Percentage of rentable space leased	100.00%
Credit facility and notes payable, net	$ 599,771,000	$ 501,152,000
Secured Debt
Debt Instrument [Line Items]
Percentage of rentable space leased				99.80%
Principal amount	$ 71,500,000
Letter of Credit | Secured Debt
Debt Instrument [Line Items]
Credit facility and notes payable, net			$ 4,900,000

Notes Payable and Credit Faci60

Notes Payable and Credit Facility (Future Debt Repayments Schedule) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Long-term Debt, Fiscal Year Maturity [Abstract]
2,018	$ 106,000
2,019	200,000
2,020	203,465
2,021	35,100
2,022	0
Thereafter	56,980
Total	$ 601,545	$ 503,545

Intangible Lease Liabilities (S

Intangible Lease Liabilities (Schedule of lease liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Leases [Abstract]
Acquired below-market lease intangibles	$ 23,783	$ 26,112
Below market lease, accumulated amortization	$ 5,317	$ 3,009
Below market lease, weighted average useful life	10 years 6 months	11 years 6 months
Amortization of intangible liabilities	$ 2,329	$ 2,253	$ 669

Supplemental Cash Flow Disclo62

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Distributions declared and unpaid	$ 3,589	$ 3,566	$ 2,158
Accrued deferred financing costs	0	7	4
Change in fair value of interest rate swaps	2,048	609	285
Common stock issued through distribution reinvestment plan	22,138	18,821	10,592
Accrued capital expenditures	0	285	75
Related Party Transaction [Line Items]
Accrued related party costs due to affiliate	1,274	2,490
Supplemental Cash Flow Disclosures:
Interest paid, net of amounts capitalized	21,233	19,323	15,916
Distribution and stockholder servicing fees
Related Party Transaction [Line Items]
Accrued related party costs due to affiliate	0	1,019	0
Offering Costs
Related Party Transaction [Line Items]
Accrued related party costs due to affiliate	$ 0	$ 0	$ 42

Intangible Lease Liabilities 63

Intangible Lease Liabilities (Schedule of future amortization expense) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Finite-Lived Intangible Liabilities, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,018	$ 2,314
2,019	2,314
2,020	2,314
2,021	2,314
2,022	$ 2,314

Related-Party Transactions an64

Related-Party Transactions and Arrangements (Selling commissions and dealer manager fees) (Details) - Dealer manager	Dec. 31, 2017
Selling commissions
Related Party Transaction [Line Items]
Expense reallowed	100.00%
Class A Common Stock | Dealer manager fee
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	2.00%
Class T Common Stock | Dealer manager fee
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	2.00%
Maximum | Class A Common Stock | Selling commissions
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	7.00%
Maximum | Class T Common Stock | Selling commissions
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	3.00%

Related-Party Transactions an65

Related-Party Transactions and Arrangements (Other organization and offering expenses) (Details)	Dec. 31, 2017
Advisors | Other organization and offering expenses
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	2.00%

Related-Party Transactions an66

Related-Party Transactions and Arrangements (Distribution and stockholder servicing fees) (Details) - Advisors	12 Months Ended
	Dec. 31, 2017
Distribution and stockholder servicing fees
Related Party Transaction [Line Items]
Related party transaction, daily distribution and servicing fee, termination of payments threshold, percentage of total gross investment	7.00%
Related party transaction, daily distribution and servicing fee, termination of payments threshold, percentage of gross proceeds from shares in offering	10.00%
Class T Common Stock
Related Party Transaction [Line Items]
Net asset value, daily accrual rate	0.00219%

Related-Party Transactions an67

Related-Party Transactions and Arrangements (Acquisition fees and expenses) (Details) - Maximum - Advisors - Acquisition Fees and Expenses	Dec. 31, 2017
Related Party Transaction [Line Items]
Acquisition and expenses percentage	2.00%
Acquisition fees and expenses, reimbursement, percentage	6.00%

Related-Party Transactions an68

Related-Party Transactions and Arrangements (Advisory fees and expenses) (Details)	Dec. 31, 2017USD ($)
Average invested assets between $0 to $2 billion | Advisors | Advisory Fees and Expenses
Related Party Transaction [Line Items]
Asset management or advisory fees percent	0.75%
Average invested assets between $2 billion to $4 billion | Advisors | Advisory Fees and Expenses
Related Party Transaction [Line Items]
Asset management or advisory fees percent	0.70%
Average invested assets over $4 billion | Advisors | Advisory Fees and Expenses
Related Party Transaction [Line Items]
Asset management or advisory fees percent	0.65%
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 billion
Related Party Transaction [Line Items]
Average invested assets	4,000,000,000
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

Related-Party Transactions an69

Related-Party Transactions and Arrangements (Operating expenses) (Details) - Minimum - Advisors	Dec. 31, 2017
Related Party Transaction [Line Items]
Operating expense reimbursement percent	2.00%
Operating expense reimbursement percent of net income	25.00%

Related-Party Transactions an70

Related-Party Transactions and Arrangements (Disposition fees) (Details) - Advisors - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property sales commission
Related Party Transaction [Line Items]
Commissions performance and other fees percent	1.00%
Related party transaction, expenses from transactions with related party	$ 0	$ 0	$ 0
Maximum | Brokerage commission fee
Related Party Transaction [Line Items]
Related party transaction, expense from transactions, percent	50.00%
Maximum | Property Portfolio
Related Party Transaction [Line Items]
Commissions performance and other fees percent	6.00%

Related-Party Transactions an71

Related-Party Transactions and Arrangements (Subordinated performance fees) (Details) - Advisors - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Cumulative noncompounded annual return	8.00%
Subordinate performance fees on event of sale of company
Related Party Transaction [Line Items]
Commissions performance and other fees percent	15.00%
Subordinate fees for listing
Related Party Transaction [Line Items]
Commissions performance and other fees percent	15.00%
Subordinated performance fees
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 0	$ 0	$ 0

Related-Party Transactions an72

Related-Party Transactions and Arrangements (Offering schedule of related party transactions) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Distribution and stockholder fees payable	$ 742,000
Selling commissions | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	$ 13,130,000	$ 10,491,000
Dealer manager fee | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	5,012,000	3,238,000
Other organization and offering costs | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	5,301,000	3,479,000
Distribution and stockholder servicing fees | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	198,000	79,000	0
Acquisition Fees and Expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	2,202,000	4,415,000	5,089,000
Advisory Fees and Expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	10,292,000	8,527,000	5,929,000
Operating expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	1,520,000	2,010,000	1,966,000
Waived fees and expense reimbursements | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 0	$ 0	$ 297,000

Related-Party Transactions an73

Related-Party Transactions and Arrangements (Due to Affiliates and Transactions) (Details) - Affiliated entity - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Due to affiliates	$ 1,300,000	$ 2,500,000
Related party, interest expense	$ 0	$ 197,000	$ 726,000

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details)	Feb. 26, 2013$ / sharesshares	Dec. 31, 2017class_of_stock$ / sharesshares	Dec. 31, 2016$ / sharesshares	Dec. 31, 2015$ / sharesshares	Apr. 11, 2016$ / shares
Class of Stock [Line Items]
Classes of common stock | class_of_stock		2
Preferred stock, shares authorized (in shares)		10,000,000	10,000,000	10,000,000
Common stock, par value (in usd per share) | $ / shares				$ 0.01
Preferred stock, par value (in usd per share) | $ / shares		$ 0.01	$ 0.01
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		245,000,000	245,000,000
Common stock, par value (in usd per share) | $ / shares		$ 0.01	$ 0.01
Class T Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		245,000,000	245,000,000
Common stock, par value (in usd per share) | $ / shares		$ 0.01	$ 0.01
Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		490,000,000	490,000,000	490,000,000
Share price (in dollars per share) | $ / shares	$ 10				$ 10.99
Common Stock | Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		245,000,000	245,000,000
Issuance of common stock (in shares)	20,000	2,080,202	23,459,386	17,324,511
Common Stock | Class T Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		245,000,000	245,000,000
Issuance of common stock (in shares)		82,060	2,447,532

Stockholders' Equity (Distribut

Stockholders' Equity (Distribution reinvestment plan) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 28, 2018	Mar. 28, 2017	Apr. 29, 2016	Apr. 11, 2016	Apr. 10, 2016	Feb. 29, 2016	Sep. 17, 2013	Feb. 26, 2013
Class of Stock [Line Items]
Common stock issued through distribution reinvestment plan	$ 22,138	$ 18,821	$ 10,592
Distribution reinvestment plan
Class of Stock [Line Items]
Share price (in dollars per share)					$ 10.32		$ 10	$ 9.50
Dividend reinvestment plan, termination notice period	10 days
Stock issued during period, distribution reinvestment plan (in shares)	2.2	1.9	1.1
Common stock issued through distribution reinvestment plan	$ 22,100	$ 18,800	$ 10,600
Common Stock
Class of Stock [Line Items]
Share price (in dollars per share)							10.99				$ 10
Net asset value per share (in dollars per share)							10		$ 10
Common Stock | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (in dollars per share)							$ 10
Class A Common Stock | Common Stock | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (in dollars per share)						$ 10				$ 9.50
Net asset value per share (in dollars per share)		$ 10.32			10.32
Class T Common Stock | Common Stock
Class of Stock [Line Items]
Net asset value per share (in dollars per share)						10
Class T Common Stock | Common Stock | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (in dollars per share)						$ 10
Net asset value per share (in dollars per share)		$ 10.32			$ 10.32
Subsequent Event | Class A Common Stock | Common Stock | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (in dollars per share)				$ 10.58
Net asset value per share (in dollars per share)				10.58
Subsequent Event | Class T Common Stock | Common Stock
Class of Stock [Line Items]
Share price (in dollars per share)				10.58
Net asset value per share (in dollars per share)				10.58
Subsequent Event | Class T Common Stock | Common Stock | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (in dollars per share)				10.58
Net asset value per share (in dollars per share)				$ 10.58

Stockholders' Equity (Share red

Stockholders' Equity (Share redemption program) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 28, 2017	Apr. 11, 2016	Apr. 10, 2016
Class of Stock [Line Items]
Stock repurchase program, required holding period		1 year
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding		1.25%
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
Redemptions of common stock (in shares)		1,900,000	553,000	193,000
Common stock, redemption, value		$ 19,389	$ 5,331	$ 1,888
Share redemption requests unfulfilled (shares)	108,000
Maximum
Class of Stock [Line Items]
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding		5.00%
Stock redemption program, redemption priority (in shares)		250
Distribution reinvestment plan
Class of Stock [Line Items]
Share price (in dollars per share)					$ 10.32	$ 10	$ 9.50

Stockholders' Equity (Distrib77

Stockholders' Equity (Distribution payable and distributions policy) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Dividend, common stock and preferred stock, number of days in the calendar year for the daily distribution	365 days
Distributions payable	$ 3,589	$ 3,566	$ 2,158
Class A Common Stock
Class of Stock [Line Items]
Daily distributions payable amount per share (in usd per share)	$ 0.001726027
Class T Common Stock
Class of Stock [Line Items]
Daily distributions payable amount per share (in usd per share)	$ 0.001726027

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Ordinary dividends	40.00%	30.00%	87.00%
Nontaxable distributions	60.00%	70.00%	13.00%
Total dividends	100.00%	100.00%	100.00%
Percentage of total income distributed as dividends	100.00%	100.00%	100.00%
Provision for taxes	$ 0	$ 0	$ 0
State and local income tax and franchise tax expense	235,000	85,000	223,000
Unrecognized tax benefits	$ 0	$ 0	$ 0

Operating Leases (Details)

Operating Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Leases [Abstract]
Operating Leases of lessor, weighted average remaining lease term	9 years 10 months 24 days
2,018	$ 86,012
2,019	87,317
2,020	88,667
2,021	89,867
2,022	91,534
Thereafter	468,785
Total	$ 912,182

Quarterly Results (Unaudited)80

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Apr. 29, 2016
Class of Stock [Line Items]
Revenues	$ 26,440	$ 26,796	$ 25,282	$ 25,144	$ 24,101	$ 22,241	$ 20,749	$ 20,120	$ 103,662	$ 87,211	$ 74,015
Acquisition-related expenses	1	0	28	2,186	1,337	177	3,162	148	2,215	4,824	7,561
Operating income	9,236	9,785	8,922	6,633	7,210	7,076	3,633	6,727	34,576	24,646	24,893
Net income (loss)	$ 3,250	$ 4,052	$ 3,208	$ 1,240	$ 2,134	$ 1,754	$ (1,372)	$ 1,488	11,750	4,004	6,840
Shares authorized, value												$ 2,500,000
Class A Common Stock
Class of Stock [Line Items]
Net income (loss)									$ 11,509	$ 4,011	$ 6,840
Basic and diluted net income (loss) per common share (in dollars per share)	$ 0.05	$ 0.06	$ 0.05	$ 0.02	$ 0.03	$ 0.03	$ (0.02)	$ 0.03	$ 0.18	$ 0.07	$ 0.22
Distributions declared per common share (in dollars per share)	0.16	0.16	0.16	0.15	0.16	0.16	0.16	0.15	$ 0.63	$ 0.63	$ 0.63
Shares authorized, value												1,500,000
Class T Common Stock
Class of Stock [Line Items]
Net income (loss)									$ 241	$ (7)	$ 0
Basic and diluted net income (loss) per common share (in dollars per share)	0.03	0.04	0.03	0	0.01	0.01	(0.04)	0	$ 0.10	$ (0.01)	$ 0
Distributions declared per common share (in dollars per share)	$ 0.16	$ 0.16	$ 0.16	$ 0.15	$ 0.16	$ 0.16	$ 0.08	$ 0	$ 0.63	$ 0.40	$ 0
Shares authorized, value												$ 1,000,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 29, 2018

Dec. 31, 2017

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Mar. 28, 2018

Mar. 28, 2017

Apr. 29, 2016

Apr. 11, 2016

Apr. 10, 2016

Feb. 29, 2016

Sep. 17, 2013

Feb. 26, 2013

Subsequent Event [Line Items]

Redemptions of common stock (in shares)

1,900,000

553,000

193,000

Common stock, redemption, value

$ 19,389

$ 5,331

$ 1,888

Share redemption requests unfulfilled (shares)

108,000

Subsequent Event

Subsequent Event [Line Items]

Redemptions of common stock (in shares)

529,000

Common stock, redemption, value

$ 5,400

Common stock, redemption, average per share price (USD per share)

$ 10.27

Common Stock

Subsequent Event [Line Items]

Net asset value per share (in dollars per share)

$ 10

$ 10

Share price (in dollars per share)

10.99

$ 10

Common Stock | Class A Common Stock

Subsequent Event [Line Items]

Redemptions of common stock (in shares)

1,883,980

552,584

193,086

Common stock, redemption, value

$ 18

$ 6

$ 2

Common Stock | Class T Common Stock

Subsequent Event [Line Items]

Redemptions of common stock (in shares)

13,732

Common stock, redemption, value

$ 0

Net asset value per share (in dollars per share)

$ 10

Common Stock | Class T Common Stock | Subsequent Event

Subsequent Event [Line Items]

Net asset value per share (in dollars per share)

$ 10.58

Share price (in dollars per share)

10.58

Distribution reinvestment plan

Subsequent Event [Line Items]

Share price (in dollars per share)

$ 10.32

10

$ 9.50

Distribution reinvestment plan | Common Stock

Subsequent Event [Line Items]

Share price (in dollars per share)

$ 10

Distribution reinvestment plan | Common Stock | Class A Common Stock

Subsequent Event [Line Items]

Net asset value per share (in dollars per share)

$ 10.32

10.32

Share price (in dollars per share)

10

$ 9.50

Distribution reinvestment plan | Common Stock | Class A Common Stock | Subsequent Event

Subsequent Event [Line Items]

Net asset value per share (in dollars per share)

10.58

Share price (in dollars per share)

10.58

Distribution reinvestment plan | Common Stock | Class T Common Stock

Subsequent Event [Line Items]

Net asset value per share (in dollars per share)

$ 10.32

$ 10.32

Share price (in dollars per share)

$ 10

Distribution reinvestment plan | Common Stock | Class T Common Stock | Subsequent Event

Subsequent Event [Line Items]

Net asset value per share (in dollars per share)

10.58

Share price (in dollars per share)

$ 10.58

Schedule III - Real Estate As82

Schedule III - Real Estate Assets And Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)multi-tenant_propertysingle_tenant_property	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 295,545
Initial Costs to Company
Land	102,055
Buildings & Improvements	978,223
Total Adjustments to Basis	19,515
Gross Amount at Which Carried at December 31, 2017	1,099,793	$ 1,005,078	$ 815,755	$ 578,829
Accumulated Depreciation	$ 71,559	43,992	$ 20,901	$ 4,574
Number of single-tenant commercial properties owned | single_tenant_property	19
Number of multi-tenant commercial properties owned | multi-tenant_property	17
Aggregate cost for federal income tax purposes	$ 1,200,000
Intangible lease assets	124,952	$ 114,183
Accumulated amortization	28,300
Line of credit
Initial Costs to Company
Credit facility, amount outstanding	$ 306,000
Buildings
Initial Costs to Company
Acquired real estate asset, useful life (in years)	40 years
3 Phoenix, Inc | Wake Forest, NC
Initial Costs to Company
Land	$ 973
Buildings & Improvements	8,330
Total Adjustments to Basis	2
Gross Amount at Which Carried at December 31, 2017	9,305
Accumulated Depreciation	700
3D Systems | Rock Hill, SC
Initial Costs to Company
Land	780
Buildings & Improvements	8,082
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	8,862
Accumulated Depreciation	711
Amazon.com, Inc | Petersburg, VA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	32,400
Initial Costs to Company
Land	3,866
Buildings & Improvements	48,404
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	52,270
Accumulated Depreciation	4,589
Amazon.com, Inc | Ruskin, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	56,980
Initial Costs to Company
Land	13,484
Buildings & Improvements	83,455
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	96,939
Accumulated Depreciation	3,348
Amcor Rigid Plastics USA, Inc | Franklin, IN
Initial Costs to Company
Land	1,373
Buildings & Improvements	16,530
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	17,903
Accumulated Depreciation	1,521
Amcor Rigid Plastics USA, Inc | Bellevue, OH 1
Initial Costs to Company
Land	1,109
Buildings & Improvements	17,131
Total Adjustments to Basis	10,514
Gross Amount at Which Carried at December 31, 2017	28,754
Accumulated Depreciation	1,592
Amesbury Truth | Sioux Falls, SD
Initial Costs to Company
Land	2,030
Buildings & Improvements	14,453
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	16,483
Accumulated Depreciation	341
Avnet, Inc | Phoenix, AZ
Initial Costs to Company
Land	4,037
Buildings & Improvements	28,738
Total Adjustments to Basis	1,235
Gross Amount at Which Carried at December 31, 2017	34,010
Accumulated Depreciation	1,216
Avnet, Inc | San Antonio, TX
Initial Costs to Company
Land	1,619
Buildings & Improvements	9,611
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	11,230
Accumulated Depreciation	974
BTS Procter & Gamble Distributing | Union, OH
Initial Costs to Company
Land	3,537
Buildings & Improvements	68,961
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	72,498
Accumulated Depreciation	5,435
Cott Beverages | Greer, SC
Initial Costs to Company
Land	666
Buildings & Improvements	11,184
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	11,850
Accumulated Depreciation	649
Cott Beverages | Joplin, MO
Initial Costs to Company
Land	571
Buildings & Improvements	11,161
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	11,732
Accumulated Depreciation	740
County of Santa Clara | San Jose, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	14,314
Initial Costs to Company
Land	4,561
Buildings & Improvements	17,508
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	22,069
Accumulated Depreciation	1,944
Dometic | Goshen, IN
Initial Costs to Company
Land	871
Buildings & Improvements	8,794
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	9,665
Accumulated Depreciation	505
Dow Chemical | Lake Jackson, TX
Initial Costs to Company
Land	1,679
Buildings & Improvements	52,140
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	53,819
Accumulated Depreciation	1,473
E.I. Dupont de Nemours and Company | Johnston, CO
Initial Costs to Company
Land	1,587
Buildings & Improvements	33,027
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	34,614
Accumulated Depreciation	2,869
Express Scripts | Lincoln Hill, PA
Initial Costs to Company
Land	2,873
Buildings & Improvements	14,064
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	16,937
Accumulated Depreciation	1,197
FedEx Ground Package System, Inc | St. Joseph, MO
Initial Costs to Company
Land	414
Buildings & Improvements	4,304
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	4,718
Accumulated Depreciation	407
FedEx Ground Package System, Inc | Fort Dodge, IA
Initial Costs to Company
Land	123
Buildings & Improvements	2,414
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	2,537
Accumulated Depreciation	223
FedEx Ground Package System, Inc | Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,541
Initial Costs to Company
Land	1,838
Buildings & Improvements	16,439
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	18,277
Accumulated Depreciation	1,619
FedEx Ground Package System, Inc | Johnstown, CO
Initial Costs to Company
Land	1,285
Buildings & Improvements	12,182
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	13,467
Accumulated Depreciation	1,109
Freeport-Mcmoran Corporation | Phoenix, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	71,500
Initial Costs to Company
Land	0
Buildings & Improvements	96,553
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	96,553
Accumulated Depreciation	8,177
Fresenius Regional Call Center | Tyler, TX
Initial Costs to Company
Land	2,637
Buildings & Improvements	16,759
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	19,396
Accumulated Depreciation	488
Keurig Green Mountain Coffee | Burlington, MA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	21,670
Initial Costs to Company
Land	4,612
Buildings & Improvements	31,175
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	35,787
Accumulated Depreciation	3,234
Keurig Green Mountain Coffee | Burlington, MA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	77,895
Initial Costs to Company
Land	5,190
Buildings & Improvements	116,453
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	121,643
Accumulated Depreciation	7,766
Lennar Homes | Houston, TX
Initial Costs to Company
Land	1,368
Buildings & Improvements	15,045
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	16,413
Accumulated Depreciation	939
ODW | Columbus, OH
Initial Costs to Company
Land	3,052
Buildings & Improvements	22,096
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	25,148
Accumulated Depreciation	2,123
Owens Corning | Fuera Bush, NY
Initial Costs to Company
Land	1,134
Buildings & Improvements	10,218
Total Adjustments to Basis	281
Gross Amount at Which Carried at December 31, 2017	11,633
Accumulated Depreciation	982
Protein Simple | San Jose, CA
Initial Costs to Company
Land	10,798
Buildings & Improvements	21,611
Total Adjustments to Basis	25
Gross Amount at Which Carried at December 31, 2017	32,434
Accumulated Depreciation	2,134
RF Micro Devices | Greensboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	9,245
Initial Costs to Company
Land	865
Buildings & Improvements	11,155
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	12,020
Accumulated Depreciation	1,018
SKF USA, Inc. | St. Louis, MO
Initial Costs to Company
Land	3,692
Buildings & Improvements	35,575
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	39,267
Accumulated Depreciation	1,519
State of Alabama | Birmingham, AL
Initial Costs to Company
Land	1,950
Buildings & Improvements	26,831
Total Adjustments to Basis	144
Gross Amount at Which Carried at December 31, 2017	28,925
Accumulated Depreciation	2,639
Subaru of America | Lebanon, IN
Initial Costs to Company
Land	3,041
Buildings & Improvements	27,333
Total Adjustments to Basis	7,272
Gross Amount at Which Carried at December 31, 2017	37,646
Accumulated Depreciation	2,960
Traveler's Insurance | Walnut Creek, CA
Initial Costs to Company
Land	6,098
Buildings & Improvements	6,786
Total Adjustments to Basis	42
Gross Amount at Which Carried at December 31, 2017	12,926
Accumulated Depreciation	209
UPS | Londonderry, NH
Initial Costs to Company
Land	6,309
Buildings & Improvements	35,337
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	41,646
Accumulated Depreciation	2,242
Wyle CAS Group | Huntsville, AL
Initial Costs to Company
Land	2,033
Buildings & Improvements	18,384
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31, 2017	20,417
Accumulated Depreciation	$ 1,967

Schedule III - Reconciliation o

Schedule III - Reconciliation of total real estate carrying value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of period	$ 1,005,078	$ 815,755	$ 578,829
Additions
Acquisitions	83,186	188,378	229,885
Improvements	11,529	945	7,041
Total additions	94,715	189,323	236,926
Deductions
Deductions	0	0	0
Cost of real estate sold	0	0	0
Total deductions	0	0	0
Balance, end of period	$ 1,099,793	$ 1,005,078	$ 815,755

Schedule III - Reconciliation84

Schedule III - Reconciliation of accumulated depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, beginning of period	$ 43,992	$ 20,901	$ 4,574
Additions
Acquisitions - Depreciation Expense for Building & Tenant Improvements Acquired	27,384	23,091	16,327
Improvements - Depreciation Expense for Tenant Improvements & Building Equipment	183	0	0
Total additions	27,567	23,091	16,327
Deductions
Deductions	0	0	0
Cost of real estate sold	0	0	0
Total deductions	0	0	0
Balance, end of period	$ 71,559	$ 43,992	$ 20,901