Cole Office & Industrial REIT 10-K 25 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018	Mar. 14, 2019	Jun. 29, 2018
Entity Information [Line Items]
Entity Registrant Name	Cole Office & Industrial REIT (CCIT II), Inc.
Entity Central Index Key	0001572758
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2018
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			$ 709.2
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		64.8
Class T Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2.6

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Real estate assets:
Land	$ 103,418	$ 102,055
Buildings and improvements	1,006,222	997,738
Intangible lease assets	124,964	124,952
Total real estate assets, at cost	1,234,604	1,224,745
Less: accumulated depreciation and amortization	(138,566)	(99,882)
Total real estate assets, net	1,096,038	1,124,863
Cash and cash equivalents	4,231	4,845
Restricted cash	1,631	1,431
Rents and tenant receivables, net	27,131	23,321
Derivative assets, prepaid expenses and other assets	3,537	3,679
Deferred costs, net	412	760
Total assets	1,132,980	1,158,899
LIABILITIES AND STOCKHOLDERS’ EQUITY
Credit facility and notes payable, net	603,891	599,771
Accrued expenses and accounts payable	7,361	6,897
Due to affiliates	1,433	1,274
Intangible lease liabilities, net	21,470	23,783
Distributions payable	3,588	3,589
Deferred rental income and other liabilities	5,000	4,231
Total liabilities	642,743	639,545
Commitments and contingencies
Redeemable common stock	27,624	27,765
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	583,304	583,279
Accumulated distributions in excess of earnings	(124,308)	(95,306)
Accumulated other comprehensive income	2,944	2,942
Total stockholders’ equity	462,613	491,589
Total liabilities, redeemable common stock and stockholders’ equity	1,132,980	1,158,899
Class A Common Stock
STOCKHOLDERS’ EQUITY
Common stock	648	649
Class T Common Stock
STOCKHOLDERS’ EQUITY
Common stock	$ 25	$ 25

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Preferred stock, par value (in dollars 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 dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	245,000,000	245,000,000
Common stock, shares issued (in shares)	64,838,403	64,884,543
Common stock, shares outstanding (in shares)	64,838,403	64,884,543
Class T Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	245,000,000	245,000,000
Common stock, shares issued (in shares)	2,548,436	2,515,860
Common stock, shares outstanding (in shares)	2,548,436	2,515,860

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Total revenues	$ 106,612	$ 103,662	$ 87,211
Operating expenses:
General and administrative	4,730	4,760	5,023
Property operating	6,572	5,875	5,088
Real estate tax	8,528	7,954	7,109
Advisory fees and expenses	10,547	10,292	8,527
Transaction-related	164	2,215	4,824
Depreciation and amortization	38,559	37,990	31,994
Total operating expenses	69,100	69,086	62,565
Operating income	37,512	34,576	24,646
Other expense:
Interest expense and other, net	(24,259)	(22,826)	(20,642)
Net income (loss)	13,253	11,750	4,004
Class A Common Stock
Other expense:
Net income (loss)	$ 12,947	$ 11,509	$ 4,011
Net income (loss) per common share:
Basic and diluted weighted average number of common shares outstanding (in shares)	64,855,809	65,204,087	57,105,755
Basic and diluted net income (loss) per common share (in dollars per share)	$ 0.20	$ 0.18	$ 0.07
Class T Common Stock
Other expense:
Net income (loss)	$ 306	$ 241	$ (7)
Net income (loss) per common share:
Basic and diluted weighted average number of common shares outstanding (in shares)	2,537,693	2,489,306	999,019
Basic and diluted net income (loss) per common share (in dollars per share)	$ 0.12	$ 0.10	$ (0.01)
Rental income
Revenues:
Rental income	$ 93,785	$ 92,349	$ 77,390
Tenant reimbursement income
Revenues:
Rental income	$ 12,827	$ 11,313	$ 9,821

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 13,253	$ 11,750	$ 4,004
Other comprehensive income
Unrealized gain (loss) on interest rate swaps	1,596	1,319	(1,669)
Amount of (gain) loss reclassified from other comprehensive income into income as interest expense and other, net	(1,594)	729	2,278
Total other comprehensive income	2	2,048	609
Total comprehensive income	$ 13,255	$ 13,798	$ 4,613

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, 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 on common stock — $0.63 per Class A Share and $0.40 per Class T Share	(36,543)		(36,543)
Commissions on stock sales and related dealer manager fees	(18,150)	(18,150)
Other offering costs	(5,301)	(5,301)
Distribution and stockholder servicing fees	$ (1,019)	(1,019)
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)
Comprehensive income	4,613		4,004	609
Balance (in shares) at Dec. 31, 2016						64,688,321		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 on common stock — $0.63 per Class A Share and $0.40 per Class T Share	$ (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)
Changes in redeemable common stock	(2,764)	(2,764)
Comprehensive income	13,798		11,750	2,048
Balance (in shares) 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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)						1,949,488		79,395
Issuance of common stock	21,330	21,310				$ 19		$ 1
Distributions declared on common stock — $0.63 per Class A Share and $0.40 per Class T Share	$ (42,255)		(42,255)
Redemptions of common stock (in shares)	(2,100,000)					(2,008,033)		(46,819)
Redemptions of common stock	$ (21,480)	(21,459)				$ (20)		$ (1)
Changes in redeemable common stock	141	141
Equity based compensation (in shares)						12,405
Equity-based compensation	33	33
Comprehensive income	13,255		13,253	2
Balance (in shares) at Dec. 31, 2018					64,838,403	64,838,403	2,548,436	2,548,436
Balance at Dec. 31, 2018	$ 462,613	$ 583,304	$ (124,308)	$ 2,944		$ 648		$ 25

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - Common Stock - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Distributions declared (dollars per share)	$ 0.63	$ 0.63
Class A Common Stock
Distributions declared (dollars per share)			$ 0.63
Class T Common Stock
Distributions declared (dollars per share)			$ 0.40

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Cash flows from operating activities:
Net income	$ 13,253	$ 11,750	$ 4,004
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, net	36,371	35,786	29,866
Amortization of deferred financing costs	1,398	1,409	1,344
Straight-line rental income	(4,377)	(5,777)	(5,553)
Equity-based compensation	33	0	0
Changes in assets and liabilities:
Rents and tenant receivables	567	580	(1,217)
Prepaid expenses and other assets	(91)	(30)	(13)
Accrued expenses and accounts payable	382	1,043	517
Deferred rental income and other liabilities	769	(69)	1,135
Due to affiliates	360	(1,018)	82
Net cash provided by operating activities	48,665	43,674	30,165
Cash flows from investing activities:
Investment in real estate assets	(1,363)	(93,465)	(197,669)
Real estate developments and capital expenditures	(8,423)	(12,476)	(738)
Payment of property escrow deposits	(50)	(1,600)	(4,932)
Refund of property escrow deposits	50	1,600	5,432
Proceeds from the settlement of insurance claims	235	0	0
Net cash used in investing activities	(9,551)	(105,941)	(197,907)
Cash flows from financing activities:
Proceeds from issuance of common stock	0	0	247,663
Redemptions of common stock	(21,480)	(19,389)	(5,331)
Distribution and stockholder servicing fees paid	(201)	(198)	(79)
Offering costs on issuance of common stock	0	0	(23,493)
Distributions to stockholders	(20,926)	(20,286)	(16,314)
Proceeds from credit facility and notes payable	38,500	131,600	194,980
Repayments of credit facility and notes payable	(35,000)	(33,600)	(207,749)
Repayments of line of credit with former affiliate	0	0	(30,000)
Change in escrowed stockholder proceeds liability	0	0	(238)
Deferred financing costs paid	(421)	(20)	(861)
Payment of loan deposit	0	0	(80)
Refund of loan deposit	0	0	80
Net cash (used in) provided by financing activities	(39,528)	58,107	158,578
Net decrease in cash and cash equivalents and restricted cash	(414)	(4,160)	(9,164)
Cash and cash equivalents and restricted cash, beginning of period	6,276	10,436	19,600
Cash and cash equivalents and restricted cash, end of period	5,862	6,276	10,436
Cash and cash equivalents	4,231	4,845	6,993
Restricted cash	$ 1,631	$ 1,431	$ 3,443

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2018
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 non-exchange traded real estate investment trust (“REIT”) formed as a Maryland corporation, incorporated on February 26, 2013, that elected to be taxed, and currently qualifies, as a REIT for U.S. federal income tax purposes beginning with its taxable year ended December 31, 2014. The Company primarily acquires commercial real estate assets primarily consisting of single-tenant, income-producing necessity office and industrial properties, which are leased to creditworthy tenants under long-term “net leases”, including distribution facilities, warehouses, manufacturing plants and corporate or regional headquarters in strategic locations. As of December 31, 2018 , the Company owned 36 properties, comprising approximately 11.5 million rentable square feet of commercial space located in 19 states. As of December 31, 2018 , the rentable square feet at these properties was 100% leased. Substantially all of the Company’s business is conducted through Cole Corporate Income Operating Partnership II, LP, a Delaware limited partnership (“CCI II OP”), of which the Company is the sole general partner and owns, directly or indirectly, 100% of the partnership interests. The Company is externally managed by Cole Corporate Income Management II, LLC (“CCI II Management”) (formerly known as Cole Corporate Income Advisors II, LLC), an affiliate of CIM Group, LLC (“CIM”), a vertically-integrated owner and operator of real assets with multidisciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and asset management capabilities headquartered in Los Angeles, California with offices in Oakland, California; Bethesda, Maryland; Dallas, Texas; New York, New York; Chicago, Illinois; and Phoenix, Arizona. On February 1, 2018, CIM acquired CCO Group, LLC and its subsidiaries (collectively, “CCO Group”) from VEREIT Operating Partnership, L.P. (“VEREIT OP”), a subsidiary of VEREIT, Inc. (“VEREIT”) (the “Transaction”). CCO Group, LLC owns and controls CCI II Management, the Company’s advisor, and is the indirect owner of CCO Capital, LLC (“CCO Capital”), the Company’s dealer manager, and CREI Advisors, LLC (“CREI Advisors”), the Company’s property manager. CCO Group serves as the Company’s sponsor and as a sponsor to Cole Credit Property Trust IV, Inc. (“CCPT IV”), Cole Credit Property Trust V, Inc. (“CCPT V”), Cole Office & Industrial REIT (CCIT III), Inc. (“CCIT III”), and CIM Income NAV, Inc. (formerly known as Cole Real Estate Income Strategy (Daily NAV), Inc.) (“CIM Income NAV”). 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 (referred to as Class A Shares) 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. In March 2016, the Company reclassified a portion of its unissued Class A common stock (the “Class A Shares”) as Class T common stock (the “Class T Shares”) and commenced sales of Class T Shares thereafter upon receipt of the required regulatory approvals. 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 Amended and Restated Distribution Reinvestment Plan (the “Amended and Restated DRIP” and collectively with the Original DRIP, 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. The Company’s board of directors (the “Board”) establishes an updated estimated per share net asset value (“NAV”) of the Company’s common stock for purposes of assisting broker-dealers that participated in the Offering in meeting their customer account reporting obligations under National Association of Securities Dealers Conduct Rule 2340. Distributions are reinvested in shares of the Company’s common stock under the DRIP Offering at the estimated per share NAV as determined by the Board. Additionally, the estimated per share NAV as determined by the Board serves as the per share redemption price for the purposes of the share redemption program. As of December 31, 2018 , the estimated per share NAV was $10.58 per share for both Class A Shares and Class T Shares, which was established on March 28, 2018 using a valuation date of December 31, 2017. On March 19, 2019 , the Board established an updated estimated per share NAV of the Company’s common stock, as of December 31, 2018 , of $11.03 per share for both Class A Shares and Class T Shares. As a result, commencing on March 25, 2019 , distributions are reinvested under the DRIP Offering at a price of $11.03 per share for both Class A Shares and Class T Shares, the estimated per share NAV as of December 31, 2018 , as determined by the Board. Additionally, $11.03 per share will serve as the most recent estimated per share NAV for purposes of the share redemption program. The Board establishes an updated per share NAV of the Company’s common stock on an annual basis, having previously established a per share NAV as of February 29, 2016, December 31, 2016, and December 31, 2017. The Company's estimated per share NAVs are not audited or reviewed by its independent registered public accounting firm. As of December 31, 2018 , the Company had issued approximately 72.1 million shares of common stock in the Offerings, including 7.5 million shares issued in the DRIP Offering, for gross offering proceeds of $726.7 million ( $699.3 million in Class A Shares and $27.4 million in Class T Shares) before offering costs, selling commissions and dealer manager fees of $66.2 million . In addition, as of December 31, 2018 , the Company paid distribution and stockholder servicing fees for Class T Shares sold in the primary portion of the Offering of $478,000 and accrued an estimated liability for future distribution and stockholder servicing fees payable of $541,000 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements. Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 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; changes in anticipated holding periods; 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, 2018 , 2017 or 2016 . The Company’s assessment of impairment as of December 31, 2018 was based on the most current information available to the Company, including expected holding periods. If the Company’s expected holding period for assets change, subsequent tests for impairment could result in impairment charges in the future. The Company can provide no assurance that material impairment charges with respect to the Company’s real estate assets will not occur in 2019 or future periods. Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease recording depreciation and amortization of the assets related to the property and estimate its 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 is then 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, 2018 or 2017 . Disposition of Real Estate Assets Gains and losses from dispositions are recognized once the various criteria relating to the terms of sale and any subsequent involvement by the Company with the asset sold are met. A discontinued operation includes only the disposal of a component of an entity and represents a strategic shift that has (or will have) a major effect on an entity’s financial results. The expected disposition of the Company’s individual properties subsequent to December 31, 2018 will not qualify for discontinued operations presentation, and thus, the results of operations that will be sold will remain in income from continuing operations, and any associated gains or losses from the disposition will be included in gain on disposition of real estate, net. See Note 16 — Subsequent Events to our consolidated financial statements in this Annual Report on Form 10-K for a discussion of the expected disposition of individual properties subsequent to December 31, 2018 . 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, and other intangibles, 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- 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, the 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- 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. Upon adoption of ASU 2017-01 (as defined below) 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 will initially be recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance will be amortized 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 Accounting Standards Update (“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. Beginning in April 2017, all real estate acquisitions qualified as asset acquisitions, and as such, acquisition-related fees and certain acquisition-related expenses related to these asset acquisitions are now capitalized and allocated to tangible and intangible assets and liabilities as described above. Other acquisition-related expenses, such as advisor reimbursements, continue to be expensed as incurred and are included in transaction-related expenses on the accompanying consolidated statements of operations. 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 included within transaction-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. 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 and identified intangible assets and liabilities on a relative fair value basis. 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 years ended December 31, 2018 and 2017 , the Company capitalized $73,000 and $160,000 , respectively, of interest expense associated with development projects. 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 $1.6 million and $1.4 million in restricted cash as of December 31, 2018 and 2017 , respectively. Included in restricted cash was $1.4 million and $1.2 million held by lenders in lockbox accounts as of December 31, 2018 and 2017 , 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 $212,000 and $165,000 held by a lender in an escrow account for a certain property in accordance with the associated loan agreement as of December 31, 2018 and 2017 , respectively. 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 financing 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, 2018 and 2017 , the Company had $412,000 and $760,000 , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financing 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 Management, 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 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 the maximum amount that is 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 the minimum rental payment increases 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. Effective January 1, 2018, the Company adopted 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 Topic 605 and requires 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. The Company records revenue for real estate taxes and insurance reimbursed by its tenants on the leased properties, with offsetting expenses in real estate taxes and property operating expenses, respectively, within the consolidated statements of operations as the Company has concluded it is the primary obligor. The Company has identified its revenue streams as rental income from leasing arrangements and tenant reimbursement income, which are outside of the scope of Topic 606. The Company adopted ASU 2014-09 using the modified retrospective approach and determined it did not have a material impact on the Company’s consolidated financial statements. The Company continually reviews receivables related to rent, including any straight-line rent, and current and future operating expense reimbursements from tenants, and determines their 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, 2018 and 2017 , 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 can result 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 per share, when applicable, considers the effect of any potentially dilutive share equivalents, of which the Company had none for each of the years ended December 31, 2018 , 2017 or 2016 . Distributions per share are 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 new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements. In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The amendments in this update require that most lease obligations be recognized as a right of use asset with a corresponding liability on the balance sheet. The guidance also requires additional qualitative and quantitative disclosures to assess the amount, timing and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The FASB has subsequently issued other related ASU, which amend ASU 2016-02 to provide transition practical expedients that an entity may elect to apply and other guidance. In July 2018, the FASB issued ASU No. 2018-11, Leases: Targeted Improvements, which provides companies with an additional transition option that would permit the application of ASU 2016-02 as of the adoption date rather than to all periods presented. The Company will use this transition option upon adoption of the new standard on January 1, 2019 and use the effective date as the date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. The Company has finalized its assessment of its inventory of leases that will be impacted by adoption of the new guidance. The Company will elect the “package of practical expedients,” which permits the Company to not reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. The accounting for lease components will largely be unchanged from existing GAAP and the Company will elect the practical expedient to not separate non-lease components from lease components. The Company does not expect the adoption of ASU 2016-02 to have a material impact on the accounting treatment and disclosure of the Company’s net leases, which are the primary source of the Company’s revenues. The Company does not have material leases where it is the lessee. 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 its 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 are designed to 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. ASU 2017-12 applies to the Company’s interest rate swaps designated as cash flow hedges. ASU 2017-12 requires all changes in the fair value of highly effective cash flow hedges to be recorded in accumulated other comprehensive income. Under 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. ASU 2017-12 is required to be adopted using a modified retrospective approach with early adoption permitted. The Company early adopted ASU 2017-12 during the first quarter of fiscal year 2018 and determined there was no material impact on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This ASU amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. ASU 2018-13 also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU 2018-13 are effective January 1, 2020 using a prospective transition method for amendments effecting changes in unrealized gains and losses, significant unobservable inputs used to develop Level 3 fair value measurements and narrative description on uncertainty of measurements. The remaining provisions of the ASU are to be applied retrospectively, and early adoption is permitted. The Company is evaluating the impact of this ASU’s adoption, and does not believe this ASU will have a material impact on its consolidated financial statements. In October 2018, the FASB issued ASU No. 2018-16, Inclusion of the Secured Overnight Financing Rate (“SOFR”) Overnight Index Swap (“OIS”) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes (“ASU 2018-16”). The amendments in this ASU permit the use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes. The SOFR is a volume-weighted median interest rate that is calculated daily based on overnight transactions from the prior day’s activity in specified segments of the U.S. Treasury repo market. It has been selected as the preferred replacement for the U.S. dollar London Interbank Offered Rate (“LIBOR”), which will be phased out by the end of 2021. ASU 2018-16 is effective for public entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2018-16 is required to be adopted on a prospective basis for qualifying new or redesignated hedging relationships entered into on or after the date of adoption. The Company currently uses LIBOR as its benchmark interest rate in the Company’s interest rate swaps associated with the Company’s LIBOR-based variable rate borrowings. The Company has not entered into any new or redesignated hedging relationships on or after t

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
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, 2018 , the estimated fair value of the Company’s debt was $605.1 million , compared to a carrying value of $605.0 million . The estimated fair value of the Company’s debt was $603.0 million as of December 31, 2017 , compared to a carrying value on that date of $601.5 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, 2018 and 2017 , 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, accrued expenses and accounts payable , 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, 2018 and 2017 , 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, 2018 and 2017 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2018 (Level 1) (Level 2) (Level 3) Financial assets: Interest rate swaps $ 2,944 $ — $ 2,944 $ — 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 $ —

Real Estate Assets

Real Estate Assets	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
REAL ESTATE ASSETS	REAL ESTATE ASSETS 2018 Property Acquisitions During the year ended December 31, 2018 , the Company did not acquire any properties. 2018 Development Project During the year ended December 31, 2018 , the Company acquired one land parcel, upon which a 120,000 square foot expansion of an existing property was constructed. The land was acquired for an aggregate cost of $1.4 million and is included in land on the accompanying consolidated balance sheet. During the year ended December 31, 2018 , the Company capitalized expenses totaling $8.0 million as construction in progress associated with the completed expansion, consisting of $7.9 million of capitalized expenses and $73,000 of capitalized interest. When the development project was substantially complete in December 2018, 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. 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 allocations 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 was 14.1 years. 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 expenses for the year ended December 31, 2017 related to the 2017 Acquisitions, which is included in transaction-related expenses on the consolidated statements of operations. 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 $10.3 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 2016 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. (2) The weighted average amortization period for acquired intangible lease liabilities was 9.9 years. 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 expenses for the year ended December 31, 2016 related to the 2016 Acquisitions, which is included in transaction-related expenses on the consolidated statements of operations. 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, 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. Property Concentrations As of December 31, 2018 , three of the Company’s tenants, Keurig Green Mountain , Amazon and Freeport-McMoRan accounted for 13% , 12% and 10% , respectively, of the Company’s 2018 annualized rental income. The Company also had certain geographic concentrations in its property holdings. In particular, as of December 31, 2018 , 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 2018 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 32% , 13% , 13% , 12% and 10% , respectively, of the Company’s 2018 annualized rental income.

Intangible Lease Assets and Lia

Intangible Lease Assets and Liabilities	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
INTANGIBLE LEASE ASSETS AND LIABILITIES	INTANGIBLE LEASE ASSETS AND LIABILITIES Intangible lease assets and liabilities consisted of the following (in thousands, except weighted average life remaining): As of December 31, 2018 2017 Intangible lease assets: In-place leases and other intangibles, net of accumulated amortization of $38,349 and $27,932, respectively (with a weighted average life remaining of 8.8 years and 9.7 years, respectively) $ 85,054 $ 95,459 Acquired above-market leases, net of accumulated amortization of $516 and $391, respectively (with a weighted average life remaining of 8.4 years and 9.3 years, respectively) 1,045 1,170 Total intangible lease assets, net $ 86,099 $ 96,629 Intangible lease liabilities: Acquired below-market lease intangibles, net of accumulated amortization of $7,630 and $5,317, respectively (with a weighted average life remaining of 9.5 years and 10.5 years, respectively) $ 21,470 $ 23,783 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. 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 related to the intangible lease assets and liabilities for the years ended December 31, 2018 , 2017 and 2016 (in thousands): Year Ended December 31, 2018 2017 2016 In-place lease and other intangible amortization $ 10,417 $ 10,423 $ 8,904 Above-market lease amortization $ 125 $ 125 $ 125 Below-market lease amortization $ 2,313 $ 2,329 $ 2,253 As of December 31, 2018 , the estimated amortization relating to the intangible lease assets and liabilities 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 Below-Market Leases 2019 $ 10,417 $ 125 $ 2,313 2020 $ 10,417 $ 125 $ 2,313 2021 $ 10,417 $ 125 $ 2,313 2022 $ 10,417 $ 125 $ 2,313 2023 $ 10,089 $ 125 $ 2,313

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2018
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, 2018 . As of December 31, 2018 , 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, 2018 and 2017 (dollar amounts in thousands): Outstanding Notional Amount as of December 31, 2018 Fair Value of Assets as of Balance Sheet Location Interest Rates (1) Effective Dates Maturity Dates December 31, 2018 December 31, 2017 Interest Rate Swaps Derivative assets, prepaid expenses and other assets $ 254,070 3.29% to 3.35% 2/10/2015 to 3/19/2015 12/12/2019 to 4/1/2020 $ 2,944 $ 2,942 ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2018 . 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 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, 2018 , 2017 and 2016 , the amounts reclassified were a gain of $1.6 million , and losses of $729,000 and $2.3 million , respectively. During the next 12 months, the Company estimates that an additional $2.8 million will be reclassified from other comprehensive income as a decrease to interest expense. The Company includes cash flows from interest rate swap agreements in cash flows provided by operating activities on its consolidated statements of cash flows, as the Company’s accounting policy is to present cash flows from hedging instruments in the same category in its consolidated statements of cash flows as the category for cash flows from the hedged items. 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, 2018 , all derivative instruments were in an asset position. Therefore, there was no termination value as of December 31, 2018 . 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, 2018 .

Credit Facility and Notes Payab

Credit Facility and Notes Payable	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
CREDIT FACILITY AND NOTES PAYABLE	CREDIT FACILITY AND NOTES PAYABLE As of December 31, 2018 , the Company had $603.9 million of debt outstanding, including net deferred financing costs, with a weighted average interest rate of 3.9% and a weighted average years to maturity of 1.6 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, 2018 and 2017 , and the debt activity for the year ended December 31, 2018 (in thousands): During the Year Ended December 31, 2018 Balance as of Debt Issuances, Net Repayments Accretion Balance as of December 31, 2018 Fixed rate debt $ 295,545 $ — $ — $ — $ 295,545 Credit facility 306,000 38,500 (35,000 ) — 309,500 Total debt 601,545 38,500 (35,000 ) — 605,045 Deferred costs - credit facility (1) (561 ) — — 287 (274 ) Deferred costs - fixed rate debt (1,213 ) — — 333 (880 ) Total debt, net $ 599,771 $ 38,500 $ (35,000 ) $ 620 $ 603,891 ____________________________________ (1) Deferred costs relate to the term portion of the credit facility, as discussed in Note 2 — Summary of Significant Accounting Policies. As of December 31, 2018 , 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, 2018 , 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 $488.6 million as of December 31, 2018 . Each of the mortgage notes payable, comprising the fixed rate debt, is secured by the respective properties on which the debt was placed. Credit Facility 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 Term Loan matures on December 12, 2019. The Revolving Loans were due to mature on December 12, 2018; however, the Company extended the maturity date of such loans to December 12, 2019, subject to satisfying certain conditions described in the Credit Agreement. These conditions included 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 $309.5 million maturing on the Credit Facility within the next year, the Company believes cash proceeds from real estate asset dispositions, net cash provided by operations and entering into new financing arrangements will be sufficient to meet its debt obligations as they become due. 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 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, 2018 , the amount outstanding under the Revolving Loans totaled $109.5 million at a weighted average interest rate of 4.5% , 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 at an all-in rate of 3.3% . The Company had $85.6 million in unused capacity, subject to borrowing availability, as of December 31, 2018 . 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, 2018 . The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2018 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2019 $ 309,500 2020 203,465 2021 35,100 2022 — 2023 56,980 Thereafter — Total $ 605,045

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the years ended December 31, 2018 , 2017 and 2016 are as follows (in thousands): Year Ended December 31, 2018 2017 2016 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Distributions declared and unpaid $ 3,588 $ 3,589 $ 3,566 Accrued deferred financing costs $ 9 $ — $ 7 Change in fair value of interest rate swaps $ 2 $ 2,048 $ 609 Change in accrued distribution and stockholder servicing fees $ — $ — $ 1,019 Common stock issued through distribution reinvestment plan $ 21,330 $ 22,138 $ 18,821 Accrued capital expenditures $ 233 $ 160 $ 285 Supplemental Cash Flow Disclosures: Interest paid $ 23,051 $ 21,233 $ 19,323 Cash paid for income taxes $ 263 $ 193 $ 263

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
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, 2018
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 Management 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 Management, 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 or the DRIP 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 Management 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 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. 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 Management 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 Management 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 Management a monthly advisory fee based upon the Company’s monthly average invested assets, which, for those assets acquired prior to January 1, 2018 , is based on the estimated market value of such assets used to determine the Company’s estimated per share NAV as of December 31, 2017 , as discussed in Note 1 — Organization and Business, and for those assets acquired subsequent to December 31, 2017 , 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 Management 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 Management 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 Management or its affiliates for the salaries and benefits paid to personnel in connection with the services for which CCI II Management or its affiliates receive acquisition fees, and the Company will not reimburse CCI II Management for salaries and benefits paid to the Company’s executive officers. Disposition fees If CCI II Management 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 Management 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 Management, 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 Management 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 Management 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 Management 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, 2018 , 2017 and 2016 , no disposition fees were incurred for any such services provided by CCI II Management or its affiliates. Subordinated performance fees If the Company is sold or its assets are liquidated, CCI II Management 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 Management 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 Management 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, 2018 , 2017 and 2016 , 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 Management and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2018 2017 2016 Selling commissions $ — $ — $ 13,130 Dealer manager fees $ — $ — $ 5,012 Other organization and offering costs $ — $ — $ 5,301 Distribution and stockholder servicing fees (1) $ 201 $ 198 $ 79 Acquisition fees and expenses $ 164 $ 2,202 $ 4,415 Advisory fees and expenses $ 10,547 $ 10,292 $ 8,527 Operating expenses $ 1,522 $ 1,520 $ 2,010 ______________________ (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 $541,000 and $742,000 for the years ended December 31, 2018 and 2017 , respectively, 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. Due to Affiliates As of December 31, 2018 and 2017 , $1.4 million and $1.3 million , respectively, was recorded for services and expenses incurred, but not yet reimbursed to CCI II Management, or its affiliates. These amounts are primarily for 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.

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2018
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	ECONOMIC DEPENDENCY Under various agreements, the Company has engaged and may in the future engage CCI II Management 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 Management 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. Services Agreement VEREIT OP, a former affiliated entity of the Company’s sponsor, is obligated to provide certain services to CCO Group and to the Company, including operational real estate support (the “Services Agreement”) through March 31, 2019 (or, if later, the date of the last government filing other than a tax filing made by us, CCPT IV, CCPT V, CCIT III, and/or CIM Income NAV with respect to its 2018 fiscal year) (the “Initial Services Term”), and is obligated to provide consulting and research services through December 31, 2023 as requested by CCO Group, LLC. The services provided by VEREIT OP during the Initial Services Term, including but not limited to any advisory, dealer manager and property management services, have been, or by March 31, 2019, will be, transitioned to, and will be provided directly by, our sponsor, advisor, dealer manager or an affiliate thereof.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY As of December 31, 2018 and 2017 , 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. 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 Management. Pursuant to the Company’s Charter, CCI II Management 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 Management 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 most recent common stock at the most recent estimated per share NAV. Distributions on Class A Shares are reinvested in Class A Shares and distributions on Class T Shares are reinvested in Class T Shares. 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, 2018 , 2017 and 2016 , approximately 2.0 million , 2.2 million and 1.9 million shares, respectively, were purchased under the DRIP portion of the Offering or DRIP Offering for $21.3 million , $22.1 million and $18.8 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 two years from the purchase date, 97.5% of the most recent estimated per share NAV; and after three years from the purchase date, 100% of the most recent estimated per share NAV. 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, as determined by the Board. See the discussion of the updated estimated per share NAV of the Company’s common stock effective March 25, 2019 in Note 16 — 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, 2018 , 2017 and 2016 , the Company redeemed approximately 2.1 million , 1.9 million and 553,000 shares under the share redemption program for $21.5 million , $19.4 million and $5.3 million , respectively. During the year ended December 31, 2018 , redemption requests relating to approximately 2.3 million 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, 2018 and ending on June 30, 2019 . 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, 2018 and ending on June 30, 2019 , 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, 2018 , the Company had distributions payable of $3.6 million . Equity Based Compensation On August 9, 2018 , the Board approved the adoption of the Cole Office & Industrial REIT (CCIT II), Inc. 2018 Equity Incentive Plan (the “Plan”), under which 400,000 of the Company’s common shares were reserved for issuance and share awards of 388,000 are available for future grant at December 31, 2018 . Under the Plan, the Board or a committee designated by the Board has the authority to grant restricted stock awards or deferred stock awards to non-employee directors of the Company, which will further align such directors’ interests with the interests of the Company’s stockholders. The Board or committee also has the authority to determine the terms of any award granted pursuant to the Plan, including vesting schedules, restrictions and acceleration of any restrictions. The Plan may be amended or terminated by the Board at any time. The Plan expires on August 8, 2028 . On October 1, 2018, the Company granted awards of approximately 3,000 restricted Class A Shares to each of the independent members of the Board (approximately 12,000 restricted shares in aggregate) under the Plan, which fully vest on October 1, 2019 based on one year of continuous service. As of December 31, 2018 , none of the restricted Class A Shares had vested or been forfeited. The fair value of the Company’s share awards is determined using the Company’s NAV per share on the date of grant. Compensation expense related to these restricted Class A Shares is recognized over the vesting period. The Company recorded compensation expense of $33,000 for the year ended December 31, 2018 related to these restricted Class A Shares included in general and administrative expenses on the accompanying consolidated statements of operations. As of December 31, 2018 , there was $98,000 of total unrecognized compensation expense related to these restricted Class A Shares which will be recognized ratably over the remaining period of service prior to October 1, 2019.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
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, 2018 , 2017 and 2016 : Year Ended December 31, Character of Distributions: 2018 2017 2016 Ordinary dividends 41 % 40 % 30 % Nondividend distributions 59 % 60 % 70 % Total 100 % 100 % 100 % During the years ended December 31, 2018 , 2017 and 2016 , the Company incurred state and local income and franchise taxes of $242,000 , $235,000 and $85,000 , 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, 2018 , 2017 and 2016 . Any interest and penalties related to unrecognized tax benefits would be recognized within the provision for income taxes in the accompanying consolidated statements of operations. The Company files income tax returns in the U.S. federal jurisdiction, as well as various state jurisdictions, and is subject to routine examinations by the respective tax authorities.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2018
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, 2018 , the leases had a weighted-average remaining term of 9.2 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, 2018 , was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2019 $ 88,057 2020 89,356 2021 90,568 2022 92,246 2023 90,332 Thereafter 407,391 Total $ 857,950

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017 (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, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 26,658 $ 26,256 $ 26,577 $ 27,121 Net income $ 3,735 $ 2,917 $ 3,209 $ 3,392 Basic and diluted net income per share - Class A common stock (1) $ 0.06 $ 0.04 $ 0.05 $ 0.05 Basic and diluted net income per share - Class T common stock (1) $ 0.04 $ 0.02 $ 0.03 $ 0.03 ____________________________________ (1) The Company calculates net income 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, 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 25,144 $ 25,282 $ 26,796 $ 26,440 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 Basic and diluted net (loss) income per share - Class T common stock (1) $ (0.00 ) $ 0.03 $ 0.04 $ 0.03 ____________________________________ (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.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The following events occurred subsequent to December 31, 2018 : Redemption of Shares of Common Stock Subsequent to December 31, 2018 , the Company redeemed approximately 490,000 shares for $5.2 million at an average per share price of $10.55 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, 2018 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, 2018 totaling approximately 823,000 shares went unfulfilled. Disposition of Real Estate Assets Subsequent to December 31, 2018 , certain wholly owned subsidiaries (collectively, the “Seller”) of CCI II OP entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”) with Industrial Logistics Properties Trust (the “Purchaser”), an unaffiliated Maryland REIT, to sell to the Purchaser 18 properties, for which the Seller will receive, in the aggregate, $625.3 million in total consideration at closing, including $568.3 million in cash and the assumption by the Purchaser of a loan on a property in Ruskin, Florida. The Board has unanimously approved the Seller entering into the Purchase and Sale Agreement. The Purchase and Sale Agreement contains covenants, representations and warranties, indemnifications, and other provisions that are customary for real estate purchase and sale agreements. Pursuant to the Purchase and Sale Agreement, the Purchaser has the right to exclude up to two of the 18 properties from the sale due to a casualty or condemnation of a property. We anticipate closing this sale during the second quarter of 2019; however, we can give no assurance that the closing will occur within this timeframe, or at all. See our Current Report on Form 8-K filed with the SEC on February 15, 2019 for additional information regarding this transaction and the Purchase and Sale Agreement. Estimated Per Share NAV On March 19, 2019 , the Board established an estimated per share NAV of the Company’s common stock as of December 31, 2018 , of $11.03 per share for both Class A Shares and Class T Shares. Commencing on March 25, 2019 , distributions will be reinvested in shares of the Company’s common stock under the DRIP Offering at a price of $11.03 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 25, 2019 , the updated estimated per share NAV of $11.03 for both Class A Shares and Class T Shares, as of December 31, 2018 , 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, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in 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, 2018 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (f) (g) Acquired Constructed Real Estate Held for Investment: 3 Phoenix, Inc.: Wake Forest, NC (h) $ 973 $ 8,330 $ — $ 9,303 $ 912 9/30/2014 2014 3D Systems: Rock Hill, SC (h) 780 8,082 — 8,862 927 9/30/2014 1992 Amazon.com, Inc.: Petersburg, VA $ 32,400 3,866 48,404 — 52,270 6,019 10/15/2014 2012 Ruskin, FL 56,980 13,484 83,455 — 96,939 5,519 6/21/2016 2014 Amcor Rigid Plastics USA, Inc.: Franklin, IN (h) 1,373 16,530 — 17,903 1,950 6/27/2014 1973 Bellevue, OH (h) 1,109 17,131 10,354 28,594 2,311 9/26/2014 1998 Amesbury Truth: Sioux Falls, SD (h) 2,030 14,453 — 16,483 732 2/7/2017 2016 Avnet, Inc.: Phoenix, AZ (h) 4,037 28,738 1,235 34,010 2,359 10/14/2016 1997 San Antonio, TX (h) 1,619 9,611 — 11,230 1,295 12/19/2014 2014 BTS Procter & Gamble Distributing: Union, OH (h) 3,537 68,961 — 72,498 7,222 12/23/2014 2014 Cott Beverages: Greer, SC (h) 666 11,184 — 11,850 954 11/5/2015 2015 Joplin, MO (h) 571 11,161 — 11,732 1,040 7/21/2015 2014 County of Santa Clara: San Jose, CA 14,314 4,561 17,508 46 22,115 2,436 1/13/2014 1997 Dometic: Goshen, IN (h) 871 8,794 — 9,665 734 10/1/2015 2005 Dow Chemical: Lake Jackson, TX (h) 1,679 52,140 — 53,819 3,010 1/31/2017 2015 E.I. DuPont de Nemours and Company: Johnston, CO (h) 1,587 33,027 — 34,614 3,812 12/19/2014 2014 Express Scripts: Lincoln Hill, PA (h) 2,873 14,064 — 16,937 1,761 11/9/2015 2015 FedEx Ground Package System, Inc.: St. Joseph, MO (h) 414 4,304 — 4,718 519 5/30/2014 2014 Fort Dodge, IA (h) 123 2,414 — 2,537 286 6/2/2014 2014 Las Vegas, NV 11,541 1,838 16,439 — 18,277 2,076 6/5/2014 2010 Johnstown, CO (h) 1,285 12,182 — 13,467 1,446 9/30/2014 2014 Freeport-McMoRan Corporation: Phoenix, AZ 71,500 — 96,553 — 96,553 10,793 11/4/2014 2010 Fresenius Regional Call Center: Tyler, TX (h) 2,637 16,759 — 19,396 956 12/20/2016 2016 Keurig Green Mountain Coffee: Burlington, MA 21,670 4,612 31,175 — 35,787 4,148 6/30/2014 2013 Burlington, MA 77,895 5,190 116,453 112 121,755 11,035 8/18/2015 2014 Lennar Homes: Houston, TX (h) 1,368 15,045 — 16,413 1,399 12/9/2015 2015 ODW: Columbus, OH (h) 3,052 22,096 — 25,148 2,723 6/30/2014 1992 Owens Corning: Fuera Bush, NY (h) 1,134 10,218 281 11,633 1,269 7/29/2014 1986 Gross Amount at Initial Costs to Company Total Which Carried At Accumulated Buildings & Adjustment December 31, 2018 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (f) (g) Acquired Constructed Protein Simple: San Jose, CA (h) $ 10,798 $ 21,611 $ 25 $ 32,434 $ 2,799 10/23/2014 1982 RF Micro Devices: Greensboro, NC $ 9,245 865 11,155 — 12,020 1,305 6/12/2014 1999 SKF USA, Inc.: St. Louis, MO (h) 3,692 35,575 9,519 48,786 2,493 4/22/2016 2015 State of Alabama: Birmingham, AL (h) 1,950 26,831 476 29,257 3,357 4/30/2014 2010 Subaru of America: Lebanon, IN (h) 3,041 27,333 7,272 37,646 3,874 6/23/2014 2014 Traveler's Insurance: Walnut Creek, CA (h) 6,098 6,786 42 12,926 474 3/24/2017 1983 UPS: Londonderry, NH (h) 6,309 35,337 — 41,646 3,221 9/30/2015 2015 Wyle CAS Group: Huntsville, AL (h) 2,033 18,384 — 20,417 2,535 7/9/2014 2013 TOTAL: $ 295,545 $ 102,055 $ 978,223 $ 29,362 $ 1,109,640 $ 99,701 ____________________________________ (a) As of December 31, 2018 , the Company owned 19 industrial and distribution properties and 17 office properties. (b) Consists of capital expenditures and real estate development costs, including one land parcel acquired during the year ended December 31, 2018 for an aggregate cost of $1.4 million , upon which an expansion of an existing property was constructed. (c) Gross intangible lease assets of $125.0 million and the associated accumulated amortization of $38.9 million are not reflected in the table above. (d) The aggregate cost for federal income tax purposes was approximately $1.2 billion . (e) The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): 2018 2017 2016 Balance, beginning of period $ 1,099,793 $ 1,005,078 $ 815,755 Additions Acquisitions — 83,186 188,378 Improvements 9,847 11,529 945 Total additions 9,847 94,715 189,323 Deductions — — — Cost of real estate sold — — — Total deductions — — — Balance, end of period $ 1,109,640 $ 1,099,793 $ 1,005,078 (f) The following is a reconciliation of accumulated depreciation for the years ended December 31 (in thousands): 2018 2017 2016 Balance, beginning of period $ 71,559 $ 43,992 $ 20,901 Additions Acquisitions - Depreciation Expense for Building & Tenant Improvements Acquired 27,811 27,384 23,091 Improvements - Depreciation Expense for Tenant Improvements & Building Equipment 331 183 — Total additions 28,142 27,567 23,091 Deductions — — — Cost of real estate sold — — — Total deductions — — — Balance, end of period $ 99,701 $ 71,559 $ 43,992 (g) 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. (h) Part of the Credit Facility’s unencumbered borrowing base. As of December 31, 2018 , the Company had $309.5 million outstanding under the Credit Facility.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
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
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; changes in anticipated holding periods; 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, 2018 , 2017 or 2016 . The Company’s assessment of impairment as of December 31, 2018 was based on the most current information available to the Company, including expected holding periods. If the Company’s expected holding period for assets change, subsequent tests for impairment could result in impairment charges in the future. The Company can provide no assurance that material impairment charges with respect to the Company’s real estate assets will not occur in 2019 or future periods. Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease recording depreciation and amortization of the assets related to the property and estimate its 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 is then 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, 2018 or 2017 .
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, and other intangibles, 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- 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, the 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- 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. Upon adoption of ASU 2017-01 (as defined below) 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 will initially be recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance will be amortized 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 Accounting Standards Update (“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. Beginning in April 2017, all real estate acquisitions qualified as asset acquisitions, and as such, acquisition-related fees and certain acquisition-related expenses related to these asset acquisitions are now capitalized and allocated to tangible and intangible assets and liabilities as described above. Other acquisition-related expenses, such as advisor reimbursements, continue to be expensed as incurred and are included in transaction-related expenses on the accompanying consolidated statements of operations. 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 included within transaction-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. 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 and identified intangible assets and liabilities on a relative fair value basis.
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 $1.6 million and $1.4 million in restricted cash as of December 31, 2018 and 2017 , respectively. Included in restricted cash was $1.4 million and $1.2 million held by lenders in lockbox accounts as of December 31, 2018 and 2017 , 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 financing 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, 2018 and 2017 , the Company had $412,000 and $760,000 , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financing 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 Management, 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 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 the maximum amount that is 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 the minimum rental payment increases 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. Effective January 1, 2018, the Company adopted 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 Topic 605 and requires 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. The Company records revenue for real estate taxes and insurance reimbursed by its tenants on the leased properties, with offsetting expenses in real estate taxes and property operating expenses, respectively, within the consolidated statements of operations as the Company has concluded it is the primary obligor. The Company has identified its revenue streams as rental income from leasing arrangements and tenant reimbursement income, which are outside of the scope of Topic 606. The Company adopted ASU 2014-09 using the modified retrospective approach and determined it did not have a material impact on the Company’s consolidated financial statements. The Company continually reviews receivables related to rent, including any straight-line rent, and current and future operating expense reimbursements from tenants, and determines their 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, 2018 and 2017 , the Company did not have an 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 Distributions 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 can result 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 per share, when applicable, considers the effect of any potentially dilutive share equivalents, of which the Company had none for each of the years ended December 31, 2018 , 2017 or 2016 . Distributions per share are 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 new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements. In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The amendments in this update require that most lease obligations be recognized as a right of use asset with a corresponding liability on the balance sheet. The guidance also requires additional qualitative and quantitative disclosures to assess the amount, timing and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The FASB has subsequently issued other related ASU, which amend ASU 2016-02 to provide transition practical expedients that an entity may elect to apply and other guidance. In July 2018, the FASB issued ASU No. 2018-11, Leases: Targeted Improvements, which provides companies with an additional transition option that would permit the application of ASU 2016-02 as of the adoption date rather than to all periods presented. The Company will use this transition option upon adoption of the new standard on January 1, 2019 and use the effective date as the date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. The Company has finalized its assessment of its inventory of leases that will be impacted by adoption of the new guidance. The Company will elect the “package of practical expedients,” which permits the Company to not reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. The accounting for lease components will largely be unchanged from existing GAAP and the Company will elect the practical expedient to not separate non-lease components from lease components. The Company does not expect the adoption of ASU 2016-02 to have a material impact on the accounting treatment and disclosure of the Company’s net leases, which are the primary source of the Company’s revenues. The Company does not have material leases where it is the lessee. 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 its 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 are designed to 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. ASU 2017-12 applies to the Company’s interest rate swaps designated as cash flow hedges. ASU 2017-12 requires all changes in the fair value of highly effective cash flow hedges to be recorded in accumulated other comprehensive income. Under 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. ASU 2017-12 is required to be adopted using a modified retrospective approach with early adoption permitted. The Company early adopted ASU 2017-12 during the first quarter of fiscal year 2018 and determined there was no material impact on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This ASU amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. ASU 2018-13 also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU 2018-13 are effective January 1, 2020 using a prospective transition method for amendments effecting changes in unrealized gains and losses, significant unobservable inputs used to develop Level 3 fair value measurements and narrative description on uncertainty of measurements. The remaining provisions of the ASU are to be applied retrospectively, and early adoption is permitted. The Company is evaluating the impact of this ASU’s adoption, and does not believe this ASU will have a material impact on its consolidated financial statements. In October 2018, the FASB issued ASU No. 2018-16, Inclusion of the Secured Overnight Financing Rate (“SOFR”) Overnight Index Swap (“OIS”) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes (“ASU 2018-16”). The amendments in this ASU permit the use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes. The SOFR is a volume-weighted median interest rate that is calculated daily based on overnight transactions from the prior day’s activity in specified segments of the U.S. Treasury repo market. It has been selected as the preferred replacement for the U.S. dollar London Interbank Offered Rate (“LIBOR”), which will be phased out by the end of 2021. ASU 2018-16 is effective for public entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2018-16 is required to be adopted on a prospective basis for qualifying new or redesignated hedging relationships entered into on or after the date of adoption. The Company currently uses LIBOR as its benchmark interest rate in the Company’s interest rate swaps associated with the Company’s LIBOR-based variable rate borrowings. The Company has not entered into any new or redesignated hedging relationships on or after the date of adoption of ASU 2018-16; as such, the Company is currently evaluating the potential effect this new benchmark interest rate option will have on its 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, 2018 , the estimated fair value of the Company’s debt was $605.1 million , compared to a carrying value of $605.0 million . The estimated fair value of the Company’s debt was $603.0 million as of December 31, 2017 , compared to a carrying value on that date of $601.5 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, 2018 and 2017 , 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, accrued expenses and accounts payable , 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.
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 Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Investment in and valuation of real estate	The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years 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, 2018
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, 2018 and 2017 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2018 (Level 1) (Level 2) (Level 3) Financial assets: Interest rate swaps $ 2,944 $ — $ 2,944 $ — 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 $ —

Real Estate Assets (Tables)

Real Estate Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Schedule of purchase price allocation	The following table summarizes the purchase price allocations 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 was 14.1 years. The following table summarizes the purchase price allocation for the 2016 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. (2) The weighted average amortization period for acquired intangible lease liabilities was 9.9 years.
Business acquisition, pro forma information	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, 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 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

Intangible Lease Assets and L_2

Intangible Lease Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Schedule of finite-lived intangible assets and liabilities	Intangible lease assets and liabilities consisted of the following (in thousands, except weighted average life remaining): As of December 31, 2018 2017 Intangible lease assets: In-place leases and other intangibles, net of accumulated amortization of $38,349 and $27,932, respectively (with a weighted average life remaining of 8.8 years and 9.7 years, respectively) $ 85,054 $ 95,459 Acquired above-market leases, net of accumulated amortization of $516 and $391, respectively (with a weighted average life remaining of 8.4 years and 9.3 years, respectively) 1,045 1,170 Total intangible lease assets, net $ 86,099 $ 96,629 Intangible lease liabilities: Acquired below-market lease intangibles, net of accumulated amortization of $7,630 and $5,317, respectively (with a weighted average life remaining of 9.5 years and 10.5 years, respectively) $ 21,470 $ 23,783
Schedule of amortization expense of below market lease	The following table summarizes the amortization related to the intangible lease assets and liabilities for the years ended December 31, 2018 , 2017 and 2016 (in thousands): Year Ended December 31, 2018 2017 2016 In-place lease and other intangible amortization $ 10,417 $ 10,423 $ 8,904 Above-market lease amortization $ 125 $ 125 $ 125 Below-market lease amortization $ 2,313 $ 2,329 $ 2,253
Schedule of finite-lived intangible assets amortization expense	The following table summarizes the amortization related to the intangible lease assets and liabilities for the years ended December 31, 2018 , 2017 and 2016 (in thousands): Year Ended December 31, 2018 2017 2016 In-place lease and other intangible amortization $ 10,417 $ 10,423 $ 8,904 Above-market lease amortization $ 125 $ 125 $ 125 Below-market lease amortization $ 2,313 $ 2,329 $ 2,253
Schedule of below market lease future amortization income	As of December 31, 2018 , the estimated amortization relating to the intangible lease assets and liabilities 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 Below-Market Leases 2019 $ 10,417 $ 125 $ 2,313 2020 $ 10,417 $ 125 $ 2,313 2021 $ 10,417 $ 125 $ 2,313 2022 $ 10,417 $ 125 $ 2,313 2023 $ 10,089 $ 125 $ 2,313
Schedule of finite-lived intangible assets, future amortization expense	As of December 31, 2018 , the estimated amortization relating to the intangible lease assets and liabilities 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 Below-Market Leases 2019 $ 10,417 $ 125 $ 2,313 2020 $ 10,417 $ 125 $ 2,313 2021 $ 10,417 $ 125 $ 2,313 2022 $ 10,417 $ 125 $ 2,313 2023 $ 10,089 $ 125 $ 2,313

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017 (dollar amounts in thousands): Outstanding Notional Amount as of December 31, 2018 Fair Value of Assets as of Balance Sheet Location Interest Rates (1) Effective Dates Maturity Dates December 31, 2018 December 31, 2017 Interest Rate Swaps Derivative assets, prepaid expenses and other assets $ 254,070 3.29% to 3.35% 2/10/2015 to 3/19/2015 12/12/2019 to 4/1/2020 $ 2,944 $ 2,942 ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2018 .

Credit Facility and Notes Pay_2

Credit Facility and Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of debt	The following table summarizes the debt balances as of December 31, 2018 and 2017 , and the debt activity for the year ended December 31, 2018 (in thousands): During the Year Ended December 31, 2018 Balance as of Debt Issuances, Net Repayments Accretion Balance as of December 31, 2018 Fixed rate debt $ 295,545 $ — $ — $ — $ 295,545 Credit facility 306,000 38,500 (35,000 ) — 309,500 Total debt 601,545 38,500 (35,000 ) — 605,045 Deferred costs - credit facility (1) (561 ) — — 287 (274 ) Deferred costs - fixed rate debt (1,213 ) — — 333 (880 ) Total debt, net $ 599,771 $ 38,500 $ (35,000 ) $ 620 $ 603,891 ____________________________________ (1) Deferred costs relate to 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, 2018 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2019 $ 309,500 2020 203,465 2021 35,100 2022 — 2023 56,980 Thereafter — Total $ 605,045

Supplemental Cash Flow Disclo_2

Supplemental Cash Flow Disclosures (Tables)	12 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow disclosures	Supplemental cash flow disclosures for the years ended December 31, 2018 , 2017 and 2016 are as follows (in thousands): Year Ended December 31, 2018 2017 2016 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Distributions declared and unpaid $ 3,588 $ 3,589 $ 3,566 Accrued deferred financing costs $ 9 $ — $ 7 Change in fair value of interest rate swaps $ 2 $ 2,048 $ 609 Change in accrued distribution and stockholder servicing fees $ — $ — $ 1,019 Common stock issued through distribution reinvestment plan $ 21,330 $ 22,138 $ 18,821 Accrued capital expenditures $ 233 $ 160 $ 285 Supplemental Cash Flow Disclosures: Interest paid $ 23,051 $ 21,233 $ 19,323 Cash paid for income taxes $ 263 $ 193 $ 263

Related-Party Transactions an_2

Related-Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2018
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 Management and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2018 2017 2016 Selling commissions $ — $ — $ 13,130 Dealer manager fees $ — $ — $ 5,012 Other organization and offering costs $ — $ — $ 5,301 Distribution and stockholder servicing fees (1) $ 201 $ 198 $ 79 Acquisition fees and expenses $ 164 $ 2,202 $ 4,415 Advisory fees and expenses $ 10,547 $ 10,292 $ 8,527 Operating expenses $ 1,522 $ 1,520 $ 2,010 ______________________ (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 $541,000 and $742,000 for the years ended December 31, 2018 and 2017 , respectively, 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.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 , 2017 and 2016 : Year Ended December 31, Character of Distributions: 2018 2017 2016 Ordinary dividends 41 % 40 % 30 % Nondividend distributions 59 % 60 % 70 % Total 100 % 100 % 100 %

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 , was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2019 $ 88,057 2020 89,356 2021 90,568 2022 92,246 2023 90,332 Thereafter 407,391 Total $ 857,950

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2018 and 2017 (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, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 26,658 $ 26,256 $ 26,577 $ 27,121 Net income $ 3,735 $ 2,917 $ 3,209 $ 3,392 Basic and diluted net income per share - Class A common stock (1) $ 0.06 $ 0.04 $ 0.05 $ 0.05 Basic and diluted net income per share - Class T common stock (1) $ 0.04 $ 0.02 $ 0.03 $ 0.03 ____________________________________ (1) The Company calculates net income 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, 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 25,144 $ 25,282 $ 26,796 $ 26,440 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 Basic and diluted net (loss) income per share - Class T common stock (1) $ (0.00 ) $ 0.03 $ 0.04 $ 0.03 ____________________________________ (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.

Organization and Business (Shar

Organization and Business (Shares offerings) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 25, 2019	Sep. 17, 2016	Dec. 31, 2015	Sep. 17, 2013	Feb. 26, 2013
Organization and business [Line Items]
Proceeds from issuance of common stock	$ 0	$ 0	$ 247,663,000
Distribution and stockholder fees payable	$ 541,000	$ 742,000
Common Stock
Organization and business [Line Items]
Share price (in dollars per share)								$ 10
Common Stock | Initial public offering
Organization and business [Line Items]
Shares deregistered, value					$ 2,300,000,000
Common stock, shares outstanding (in shares)	72,100,000
Proceeds from issuance of common stock	$ 726,700,000
Offering costs and selling commissions	$ 66,200,000
Common Stock | Distribution reinvestment plan
Organization and business [Line Items]
Shares authorized, value					$ 120,000,000
Common stock, shares outstanding (in shares)	7,500,000
Class A Common Stock
Organization and business [Line Items]
Common stock, shares outstanding (in shares)	64,838,403	64,884,543
Class A Common Stock | Common Stock
Organization and business [Line Items]
Net asset value per share (in dollars per share)	$ 11.03	$ 10.58
Common stock, shares outstanding (in shares)	64,838,403	64,884,543	64,688,321			41,781,519
Class A Common Stock | Common Stock | Initial public offering
Organization and business [Line Items]
Shares authorized, value							$ 2,500,000,000
Share price (in dollars per share)							$ 10
Proceeds from issuance of common stock	$ 699,300,000
Class A Common Stock | Common Stock | Distribution reinvestment plan
Organization and business [Line Items]
Shares authorized, value							$ 475,000,000
Share price (in dollars per share)							$ 9.50
Class A Common Stock | Common Stock | Distribution reinvestment plan | Subsequent Event
Organization and business [Line Items]
Share price (in dollars per share)				$ 11.03
Class T Common Stock
Organization and business [Line Items]
Common stock, shares outstanding (in shares)	2,548,436	2,515,860
Class T Common Stock | Common Stock
Organization and business [Line Items]
Net asset value per share (in dollars per share)	$ 11.03	$ 10.58
Common stock, shares outstanding (in shares)	2,548,436	2,515,860	2,447,532			0
Class T Common Stock | Common Stock | Subsequent Event
Organization and business [Line Items]
Share price (in dollars per share)				11.03
Class T Common Stock | Common Stock | Initial public offering
Organization and business [Line Items]
Proceeds from issuance of common stock	$ 27,400,000
Distribution and servicing fees	$ 478,000
Class T Common Stock | Common Stock | Distribution reinvestment plan | Subsequent Event
Organization and business [Line Items]
Share price (in dollars per share)				11.03
CCI II OP
Organization and business [Line Items]
General partner partnership interest percentage	100.00%
The Share Redemption Program | Common Stock | Subsequent Event
Organization and business [Line Items]
Net asset value per share (in dollars per share)				11.03
The Share Redemption Program | Class T Common Stock | Common Stock | Subsequent Event
Organization and business [Line Items]
Net asset value per share (in dollars per share)				$ 11.03

Organization and Business (Real

Organization and Business (Real Estate) (Details) ft² in Millions	Dec. 31, 2018ft²propertystates
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	11.5

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Real Estate) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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	$ 73,000	$ 160,000
Site improvements
Real Estate Properties [Line Items]
Acquired real estate asset, useful life (in years)	15 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Cash and Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,631	$ 1,431	$ 3,443
Restricted Lockbox Accounts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	1,400	1,200
Escrow Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 212	$ 165

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Distribution and Stockholder Servicing Fees) (Details) - Advisors	12 Months Ended
	Dec. 31, 2018
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 Accoun_7

Summary of Significant Accounting Policies (Other Narrative) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)segmentclass_of_stockshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016shares
Accounting Policies [Abstract]
Deferred costs, net	$ 412,000	$ 760,000
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

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - Affiliated entity - Fair value, inputs, level 2 - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Estimate of fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 605.1	$ 603
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 605	$ 601.5

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, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset	$ 2,944	$ 2,942
Fair value, inputs, level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset	0	0
Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset	2,944	2,942
Fair value, inputs, level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset	$ 0	$ 0

Real Estate Assets (Narrative)

Real Estate Assets (Narrative) (Details) ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)ft²propertyland_parcel	Dec. 31, 2017USD ($)property	Dec. 31, 2016USD ($)property
Business Acquisition [Line Items]
Area of land available for development | ft²	120
Inventory, real estate, land and land development costs capitalized		$ 10,300
Acquisition-related expenses	$ 164	2,215	$ 4,824
Acquisitions, 2018
Business Acquisition [Line Items]
Number of properties acquired | property	0
Acquisitions, 2017
Business Acquisition [Line Items]
Aggregate purchase price		$ 93,500
Number of businesses acquired (in properties) | property		3
Revenues		$ 7,500
Net income (loss) since acquisition date		1,500
Acquisition-related expenses		$ 2,100
Acquisitions, 2016
Business Acquisition [Line Items]
Aggregate purchase price			$ 197,700
Number of businesses acquired (in properties) | property			4
Revenues			$ 7,200
Net income (loss) since acquisition date			(1,000)
Acquisition-related expenses			$ 4,200
Land
Business Acquisition [Line Items]
Number of properties acquired | land_parcel	1
Aggregate purchase price	$ 1,400
Construction in Progress
Business Acquisition [Line Items]
Inventory, real estate, land and land development costs capitalized	8,000
Capitalized expenses	7,900
Interest costs capitalized	$ 73

Real Estate Assets (Purchase Pr

Real Estate Assets (Purchase Price Allocation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Below market lease, weighted average useful life	9 years 6 months	10 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 5 days
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 24 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 24 days

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
Acquisitions, 2017
Pro forma basis (unaudited):
Revenue	$ 104,646	$ 95,744
Net income	$ 14,853	3,542
Acquisitions, 2016
Pro forma basis (unaudited):
Revenue		98,345	$ 92,384
Net income		$ 10,461	$ 8,087

Real Estate Assets (Property Co

Real Estate Assets (Property Concentrations) (Details)	12 Months Ended
	Dec. 31, 2018property
Keurig Green Mountain | Sales revenue, services, net | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Amazon | Sales revenue, services, net | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	12.00%
Freeport-McMoRan | Sales revenue, services, net | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	10.00%
Arizona
Concentration Risk [Line Items]
Number of real estate properties	2
Arizona | Sales revenue, services, net | Geographic concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Massachusetts
Concentration Risk [Line Items]
Number of real estate properties	2
Massachusetts | Sales revenue, services, net | Geographic concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Ohio
Concentration Risk [Line Items]
Number of real estate properties	3
Ohio | Sales revenue, services, net | Geographic concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	12.00%
Manufacturing industry | Sales revenue, services, net | Industry concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	32.00%
Logistics industry | Sales revenue, services, net | Industry concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Wholesale industry | Sales revenue, services, net | Industry concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Retail internet | Sales revenue, services, net | Industry concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	12.00%
Mining and natural resources industry | Sales revenue, services, net | Industry concentration risk
Concentration Risk [Line Items]
Concentration risk percentage	10.00%

Intangible Lease Assets and L_3

Intangible Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Liabilities, Net [Abstract]
Intangible lease assets	$ 86,099	$ 96,629
Intangible lease liabilities, net	21,470	23,783
Accumulated amortization	38,900
Below market lease, accumulated amortization	$ 7,630	$ 5,317
Below market lease, weighted average useful life	9 years 6 months	10 years 6 months
Amortization of intangible liabilities	$ 2,313	$ 2,329	$ 2,253
Acquired in-place leases
Finite-Lived Intangible Liabilities, Net [Abstract]
Intangible lease assets	85,054	95,459
Accumulated amortization	$ 38,349	$ 27,932
Useful life	8 years 9 months	9 years 8 months 11 days
Amortization expense	$ 10,417	$ 10,423	8,904
Acquired above-market leases
Finite-Lived Intangible Liabilities, Net [Abstract]
Intangible lease assets	1,045	1,170
Accumulated amortization	$ 516	$ 391
Useful life	8 years 5 months	9 years 3 months 18 days
Amortization expense	$ 125	$ 125	$ 125

Intangible Lease Assets and L_4

Intangible Lease Assets and Liabilities (Estimated Amortization of Intangible lease assets and liabilities) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
2019	$ 2,313
2020	2,313
2021	2,313
2022	2,313
2023	2,313
Acquired in-place leases
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2019	10,417
2020	10,417
2021	10,417
2022	10,417
2023	10,089
Acquired above-market leases
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2019	125
2020	125
2021	125
2022	125
2023	$ 125

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)derivativeswap_agreement	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Derivative [Line Items]
Amount of (gain) loss reclassified from other comprehensive income into income as interest expense and other, net	$ (1,594,000)	$ 729,000	$ 2,278,000
Number of interest rate derivatives terminated	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	$ 2,800,000
Derivative liability, event of default, termination amount	$ 0

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Schedule of derivative instruments) (Details) - Cash Flow Hedging - Interest rate swaps - Derivative asset, prepaid expenses and other assets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Outstanding notional amount	$ 254,070
Fair Value of Asset	$ 2,944	$ 2,942
Minimum
Derivatives, Fair Value [Line Items]
Interest rate (percentage)	3.29%
Maximum
Derivatives, Fair Value [Line Items]
Interest rate (percentage)	3.35%

Credit Facility and Notes Pay_3

Credit Facility and Notes Payable (Schedule of debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt, weighted average interest rate	3.90%
Weighted average remaining term	1 year 7 months
Debt [Roll Forward]
Long-term debt, gross, beginning balance	$ 601,545
Total debt, net, beginning of period	599,771
Debt issuances, net	38,500	$ 131,600	$ 194,980
Proceeds from debt, net of issuance costs	38,500
Repayments	(35,000)
Accretion	620
Long-term debt, gross, ending balance	605,045	601,545
Total debt, net, end of period	$ 603,891	599,771
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
Deferred costs, beginning of period	(1,213)
Debt issuances, net	0
Repayments	0
Accretion	333
Long-term debt, gross, ending balance	295,545	295,545
Deferred costs, end of period	(880)	(1,213)
Line of credit
Debt [Roll Forward]
Long-term debt, gross, beginning balance	306,000
Deferred costs, beginning of period	(561)
Debt issuances, net	38,500
Repayments	(35,000)
Accretion	287
Long-term debt, gross, ending balance	309,500	306,000
Deferred costs, end of period	$ (274)	$ (561)

Credit Facility and Notes Pay_4

Credit Facility and Notes Payable (Fixed rate debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt outstanding	$ 605,045	$ 601,545
Debt, weighted average interest rate	3.90%
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	$ 488,600
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

Credit Facility and Notes Pay_5

Credit Facility and Notes Payable (Credit facility) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Line of Credit Facility [Line Items]
Long-term debt, maturities, repayments of principal in next twelve months	$ 309,500,000
Credit facility and notes payable, net	$ 603,891,000	$ 599,771,000
Debt, weighted average interest rate	3.90%
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	85,600,000
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
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	$ 109,500,000
Debt, weighted average interest rate	4.50%
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]
Debt instrument, basis spread on variable rate	1.00%

Credit Facility and Notes Pay_6

Credit Facility and Notes Payable (Future Debt Repayments Schedule) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Long-term Debt, Fiscal Year Maturity [Abstract]
2019	$ 309,500
2020	203,465
2021	35,100
2022	0
2023	56,980
Thereafter	0
Total	$ 605,045	$ 601,545

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Distributions declared and unpaid	$ 3,588	$ 3,589	$ 3,566
Accrued deferred financing costs	9	0	7
Change in fair value of interest rate swaps	2	2,048	609
Common stock issued through distribution reinvestment plan	21,330	22,138	18,821
Accrued capital expenditures	233	160	285
Related Party Transaction [Line Items]
Change in accrued distribution and stockholder servicing fees	1,433	1,274
Supplemental Cash Flow Disclosures:
Interest paid	23,051	21,233	19,323
Cash paid for income taxes	263	193	263
Distribution and stockholder servicing fees
Related Party Transaction [Line Items]
Change in accrued distribution and stockholder servicing fees	$ 0	$ 0	$ 1,019

Related-Party Transactions an_3

Related-Party Transactions and Arrangements (Selling commissions and dealer manager fees) (Details) - Dealer manager	Dec. 31, 2018
Selling commissions
Related Party Transaction [Line Items]
Expense reallowed	100.00%
Class A Common Stock | Dealer manager fees
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	2.00%
Class T Common Stock | Dealer manager fees
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 an_4

Related-Party Transactions and Arrangements (Other organization and offering expenses) (Details)	Dec. 31, 2018
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 an_5

Related-Party Transactions and Arrangements (Distribution and stockholder servicing fees) (Details) - Advisors	12 Months Ended
	Dec. 31, 2018
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 an_6

Related-Party Transactions and Arrangements (Acquisition fees and expenses) (Details) - Maximum - Advisors - Acquisition fees and expenses	Dec. 31, 2018
Related Party Transaction [Line Items]
Acquisition and expenses percentage	2.00%
Acquisition fees and expenses, reimbursement, percentage	6.00%

Related-Party Transactions an_7

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 an_8

Related-Party Transactions and Arrangements (Operating expenses) (Details) - Minimum - Advisors	Dec. 31, 2018
Related Party Transaction [Line Items]
Operating expense reimbursement percent	2.00%
Operating expense reimbursement percent of net income	25.00%

Related-Party Transactions an_9

Related-Party Transactions and Arrangements (Disposition fees) (Details) - Advisors - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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 a_10

Related-Party Transactions and Arrangements (Subordinated performance fees) (Details) - Advisors - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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 a_11

Related-Party Transactions and Arrangements (Offering schedule of related party transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Distribution and stockholder fees payable	$ 541	$ 742
Selling commissions | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	0	$ 13,130
Dealer manager fees | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	0	5,012
Other organization and offering costs | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	0	5,301
Distribution and stockholder servicing fees | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	201	198	79
Acquisition fees and expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	164	2,202	4,415
Advisory fees and expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	10,547	10,292	8,527
Operating expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 1,522	$ 1,520	$ 2,010

Related-Party Transactions a_12

Related-Party Transactions and Arrangements (Due to affiliates) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Affiliated entity
Related Party Transaction [Line Items]
Due to affiliates	$ 1.4	$ 1.3

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details)	Feb. 26, 2013$ / sharesshares	Dec. 31, 2018class_of_stock$ / sharesshares	Dec. 31, 2017$ / sharesshares	Dec. 31, 2016$ / sharesshares
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
Common stock, par value (in dollars per share) | $ / shares				$ 0.01
Preferred stock, par value (in dollars 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 dollars 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 dollars 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
Share price (in dollars per share) | $ / shares	$ 10
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	1,949,488	2,080,202	23,459,386
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)		79,395	82,060	2,447,532

Stockholders' Equity (Distribut

Stockholders' Equity (Distribution reinvestment plan) (Details) - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Common stock issued through distribution reinvestment plan	$ 21,330	$ 22,138	$ 18,821
Distribution reinvestment plan
Class of Stock [Line Items]
Stock issued during period, distribution reinvestment plan (in shares)	2	2.2	1.9
Common stock issued through distribution reinvestment plan	$ 21,300	$ 22,100	$ 18,800

Stockholders' Equity (Share red

Stockholders' Equity (Share redemption program) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 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, 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)		2,100,000	1,900,000	553,000
Common stock, redemption, value		$ 21,480	$ 19,389	$ 5,331
Share redemption requests unfulfilled (in shares)	823,000	2,300,000
Distribution reinvestment plan
Class of Stock [Line Items]
Stock redemption program, redemption price per share, percentage of amount paid per share, after one year		100.00%
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

Stockholders' Equity (Distrib_2

Stockholders' Equity (Distributions payable and distribution policy) (Details) - USD ($) $ / shares in Units, $ in Thousands	18 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Distributions payable		$ 3,588	$ 3,589	$ 3,566
Class A Common Stock | Subsequent Event
Class of Stock [Line Items]
Daily distributions payable amount per share (in dollars per share)	$ 0.001726027
Class T Common Stock | Subsequent Event
Class of Stock [Line Items]
Daily distributions payable amount per share (in dollars per share)	$ 0.001726027

Stockholders' Equity (Equity ba

Stockholders' Equity (Equity based compensation) (Details) - CCIT II 2018 Equity Incentive Plan - USD ($) $ in Thousands	Oct. 01, 2018	Dec. 31, 2018	Aug. 09, 2018
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)			400,000
Shares available for future grant (in shares)			388,000
Restricted Stock | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period to each independent members of Board of Directors (in shares)	3,000
Grants in period (in shares)	12,000
Requisite service period	1 year
Unrecognized compensation expense		$ 98
Restricted Stock | General and Administrative Expense | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 33

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Ordinary dividends	41.00%	40.00%	30.00%
Nondividend distributions	59.00%	60.00%	70.00%
Total	100.00%	100.00%	100.00%
State and local income tax and franchise tax expense	$ 242,000	$ 235,000	$ 85,000
Unrecognized tax benefits	$ 0	$ 0	$ 0

Operating Leases (Details)

Operating Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Leases [Abstract]
Weighted average remaining lease term	9 years 2 months 11 days
2019	$ 88,057
2020	89,356
2021	90,568
2022	92,246
2023	90,332
Thereafter	407,391
Total	$ 857,950

Quarterly Results (Unaudited)_2

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Revenues	$ 27,121	$ 26,577	$ 26,256	$ 26,658	$ 26,440	$ 26,796	$ 25,282	$ 25,144	$ 106,612	$ 103,662	$ 87,211
Net income	$ 3,392	$ 3,209	$ 2,917	$ 3,735	$ 3,250	$ 4,052	$ 3,208	$ 1,240	13,253	11,750	4,004
Class A Common Stock
Class of Stock [Line Items]
Net income									$ 12,947	$ 11,509	$ 4,011
Basic and diluted net income (loss) per common share (in dollars per share)	$ 0.05	$ 0.05	$ 0.04	$ 0.06	$ 0.05	$ 0.06	$ 0.05	$ 0.02	$ 0.20	$ 0.18	$ 0.07
Class T Common Stock
Class of Stock [Line Items]
Net income									$ 306	$ 241	$ (7)
Basic and diluted net income (loss) per common share (in dollars per share)	$ 0.03	$ 0.03	$ 0.02	$ 0.04	$ 0.03	$ 0.04	$ 0.03	$ 0	$ 0.12	$ 0.10	$ (0.01)

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 25, 2019USD ($)property$ / sharesshares	Dec. 31, 2018$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)shares	Sep. 17, 2013$ / shares	Feb. 26, 2013$ / shares
Subsequent Event [Line Items]
Redemptions of common stock (in shares) | shares			2,100,000	1,900,000	553,000
Common stock, redemption, value | $			$ 21,480	$ 19,389	$ 5,331
Share redemption requests unfulfilled (in shares) | shares		823,000	2,300,000
Subsequent Event
Subsequent Event [Line Items]
Redemptions of common stock (in shares) | shares	490,000
Common stock, redemption, value | $	$ 5,200
Common stock, redemption, average per share price (USD per share)	$ 10.55
Number of properties sold | property	18
Total consideration received | $	$ 625,300
Cash received and loan assumed | $	$ 568,300
Common Stock
Subsequent Event [Line Items]
Share price (in dollars per share)							$ 10
Common Stock | Class T Common Stock
Subsequent Event [Line Items]
Redemptions of common stock (in shares) | shares			46,819	13,732
Common stock, redemption, value | $			$ 1
Net asset value per share (in dollars per share)		$ 11.03	$ 11.03	$ 10.58
Common Stock | Class T Common Stock | Subsequent Event
Subsequent Event [Line Items]
Share price (in dollars per share)	$ 11.03
Common Stock | Class A Common Stock
Subsequent Event [Line Items]
Redemptions of common stock (in shares) | shares			2,008,033	1,883,980	552,584
Common stock, redemption, value | $			$ 20	$ 18	$ 6
Net asset value per share (in dollars per share)		$ 11.03	$ 11.03	$ 10.58
Distribution reinvestment plan | Common Stock | Class T Common Stock | Subsequent Event
Subsequent Event [Line Items]
Share price (in dollars per share)	11.03
Distribution reinvestment plan | Common Stock | Class A Common Stock
Subsequent Event [Line Items]
Share price (in dollars per share)						$ 9.50
Distribution reinvestment plan | Common Stock | Class A Common Stock | Subsequent Event
Subsequent Event [Line Items]
Share price (in dollars per share)	11.03
The Share Redemption Program | Common Stock | Subsequent Event
Subsequent Event [Line Items]
Net asset value per share (in dollars per share)	11.03
The Share Redemption Program | Common Stock | Class T Common Stock | Subsequent Event
Subsequent Event [Line Items]
Net asset value per share (in dollars per share)	$ 11.03

Schedule III - Real Estate As_2

Schedule III - Real Estate Assets And Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)land_parcelmulti-tenant_propertysingle_tenant_property	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	29,362
Gross Amount at Which Carried at December 31	1,109,640	$ 1,099,793	$ 1,005,078	$ 815,755
Accumulated Depreciation	$ 99,701	71,559	$ 43,992	$ 20,901
Number of single-tenant commercial properties owned | single_tenant_property	19
Number of multi-tenant commercial properties owned | multi-tenant_property	17
Intangible lease assets	$ 124,964	$ 124,952
Accumulated amortization	38,900
Aggregate cost for federal income tax purposes	1,200,000
Line of credit
Initial Costs to Company
Credit facility, amount outstanding	309,500
3 Phoenix, Inc | Wake Forest, NC
Initial Costs to Company
Land	973
Buildings & Improvements	8,330
Total Adjustments to Basis	0
Gross Amount at Which Carried at December 31	9,303
Accumulated Depreciation	912
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	8,862
Accumulated Depreciation	927
Amazon.com, Inc | Petersburg, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	52,270
Accumulated Depreciation	6,019
Amazon.com, Inc | Ruskin, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	96,939
Accumulated Depreciation	5,519
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	17,903
Accumulated Depreciation	1,950
Amcor Rigid Plastics USA, Inc | Bellevue, OH
Initial Costs to Company
Land	1,109
Buildings & Improvements	17,131
Total Adjustments to Basis	10,354
Gross Amount at Which Carried at December 31	28,594
Accumulated Depreciation	2,311
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	16,483
Accumulated Depreciation	732
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	34,010
Accumulated Depreciation	2,359
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	11,230
Accumulated Depreciation	1,295
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	72,498
Accumulated Depreciation	7,222
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	11,850
Accumulated Depreciation	954
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	11,732
Accumulated Depreciation	1,040
County of Santa Clara | San Jose, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	46
Gross Amount at Which Carried at December 31	22,115
Accumulated Depreciation	2,436
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	9,665
Accumulated Depreciation	734
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	53,819
Accumulated Depreciation	3,010
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	34,614
Accumulated Depreciation	3,812
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	16,937
Accumulated Depreciation	1,761
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	4,718
Accumulated Depreciation	519
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	2,537
Accumulated Depreciation	286
FedEx Ground Package System, Inc | Las Vegas, NV
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	18,277
Accumulated Depreciation	2,076
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	13,467
Accumulated Depreciation	1,446
Freeport-Mcmoran Corporation | Phoenix, AZ
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	96,553
Accumulated Depreciation	10,793
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	19,396
Accumulated Depreciation	956
Keurig Green Mountain Coffee | Burlington, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	35,787
Accumulated Depreciation	4,148
Keurig Green Mountain Coffee | Burlington, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	112
Gross Amount at Which Carried at December 31	121,755
Accumulated Depreciation	11,035
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	16,413
Accumulated Depreciation	1,399
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	25,148
Accumulated Depreciation	2,723
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	11,633
Accumulated Depreciation	1,269
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	32,434
Accumulated Depreciation	2,799
RF Micro Devices | Greensboro, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	12,020
Accumulated Depreciation	1,305
SKF USA, Inc. | St. Louis, MO
Initial Costs to Company
Land	3,692
Buildings & Improvements	35,575
Total Adjustments to Basis	9,519
Gross Amount at Which Carried at December 31	48,786
Accumulated Depreciation	2,493
State of Alabama | Birmingham, AL
Initial Costs to Company
Land	1,950
Buildings & Improvements	26,831
Total Adjustments to Basis	476
Gross Amount at Which Carried at December 31	29,257
Accumulated Depreciation	3,357
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	37,646
Accumulated Depreciation	3,874
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	12,926
Accumulated Depreciation	474
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	41,646
Accumulated Depreciation	3,221
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	20,417
Accumulated Depreciation	$ 2,535
Land
Initial Costs to Company
Number of properties acquired | land_parcel	1
Aggregate purchase price	$ 1,400

Schedule III - Reconciliation o

Schedule III - Reconciliation of total real estate carrying value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance, beginning of period	$ 1,099,793	$ 1,005,078	$ 815,755
Additions
Acquisitions	0	83,186	188,378
Improvements	9,847	11,529	945
Total additions	9,847	94,715	189,323
Deductions
Deductions	0	0	0
Cost of real estate sold	0	0	0
Total deductions	0	0	0
Balance, end of period	$ 1,109,640	$ 1,099,793	$ 1,005,078

Schedule III - Reconciliation_2

Schedule III - Reconciliation of accumulated depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance, beginning of period	$ 71,559	$ 43,992	$ 20,901
Additions
Acquisitions - Depreciation Expense for Building & Tenant Improvements Acquired	27,811	27,384	23,091
Improvements - Depreciation Expense for Tenant Improvements & Building Equipment	331	183	0
Total additions	28,142	27,567	23,091
Total additions
Deductions	0	0	0
Cost of real estate sold	0	0	0
Total deductions	0	0	0
Balance, end of period	$ 99,701	$ 71,559	$ 43,992
Buildings
Total additions
Acquired real estate asset, useful life (in years)	40 years
Site improvements
Total additions
Acquired real estate asset, useful life (in years)	15 years