Cole Credit Property Trust V 10-K 31 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Mar. 25, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	COLE CREDIT PROPERTY TRUST V, INC.
Entity Central Index Key	1580988
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Entity common stock, shares outstanding		7.3
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$20.70

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investment in real estate assets:
Land	$87,406	$0
Buildings and improvements, less accumulated depreciation of $1,563 and $0, respectively	257,384	0
Acquired intangible lease assets, less accumulated amortization of $823 and $0, respectively	41,539	0
Total investment in real estate assets, net	386,329	0
Cash and cash equivalents	6,907	200
Prepaid expenses and other assets	230	0
Due from affiliates	110	0
Rents and tenant receivables	982	0
Deferred financing costs, less accumulated amortization of $258 and $0, respectively	2,353	0
Total assets	396,911	200
LIABILITIES AND STOCKHOLDERS’ EQUITY
Credit facility and notes payable, net	227,145	0
Line of credit with affiliate	20,000	0
Accounts payable and accrued expenses	2,284	0
Due to affiliates	1,952	0
Acquired below market lease intangibles, less accumulated amortization of $47 and $0, respectively	3,823	0
Distributions payable	929	0
Deferred rental income	986	0
Total liabilities	257,119	0
Commitments and contingencies
Redeemable common stock	1,471	0
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value; 490,000,000 shares authorized, 6,985,877 and 8,000 shares issued and outstanding, respectively	70	0
Capital in excess of par value	153,993	200
Accumulated distributions in excess of earnings	-15,742	0
Total stockholders’ equity	138,321	200
Total liabilities and stockholders’ equity	$396,911	$200

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Accumulated depreciation of building and improvements	$1,563	$0
Accumulated amortization of intangible lease assets	823	0
Accumulated amortization of deferred financing costs	258	0
Accumulated amortization of acquired below market lease intangible	$47	$0
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	490,000,000	490,000,000
Common stock, shares issued	6,985,877	8,000
Common stock, shares outstanding	6,985,877	8,000

Consolidated_Statement_of_Oper

Consolidated Statement of Operations (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014
Revenues:
Rental and other property income	$5,824
Tenant reimbursement income	256
Total revenue	6,080
Expenses:
General and administrative expenses	1,173
Property operating expenses	392
Advisory fees and expenses	751
Acquisition-related expenses	11,955
Depreciation	1,563
Amortization	735
Total operating expenses	16,569
Operating loss	-10,489
Other expense:
Interest expense	-1,628
Net loss	($12,117)
Weighted average number of common shares outstanding:
Basic and diluted (shares)	2,298,800
Net loss per common share:
Basic and diluted (in dollars per share)	($5.27)

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholder's Equity (USD $)	Total	Common Stock	Capital in Excess of Par Value	Accumulated Distributions in Excess of Earnings
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2012	$0	$0	$0	$0
Balance, shares at Dec. 31, 2012		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares		8,000
Issuance of common stock	200		200
Balance at Dec. 31, 2013	200	0	200	0
Balance, shares at Dec. 31, 2013	8,000	8,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares		6,977,877
Issuance of common stock	173,743	70	173,673
Distributions to investors	-3,625			-3,625
Commissions on stock sales and related dealer manager fees	-14,934		-14,934
Other offering costs	-3,475		-3,475
Changes in redeemable common stock	-1,471		-1,471
Net loss	-12,117			-12,117
Balance at Dec. 31, 2014	$138,321	$70	$153,993	($15,742)
Balance, shares at Dec. 31, 2014	6,985,877	6,985,877

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	($12,117)	$0
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	1,563	0
Amortization of intangible lease assets and below market lease intangible, net	776	0
Amortization of deferred financing costs	258	0
Amortization of fair value adjustments of notes payable assumed	-99	0
Changes in assets and liabilities:
Rents and tenant receivables	-982	0
Prepaid expenses and other assets	-230	0
Accounts payable and accrued expenses	2,284	0
Deferred rental income and other liabilities	986	0
Due from affiliates	-110	0
Due to affiliates	605	0
Net cash used in operating activities	-7,066	0
Cash flows from investing activities:
Investment in real estate assets	-339,830	0
Escrowed funds for acquisition of real estate investments	-5,905	0
Release of escrowed funds for acquisition of real estate investments	5,905	0
Net cash used in investing activities	-339,830	0
Cash flows from financing activities:
Proceeds from issuance of common stock	172,272	200
Offering costs on issuance of common stock	-18,333	0
Proceeds from credit facility and notes payable	186,153	0
Repayment of credit facility and notes payable	-2,653	0
Proceeds from line of credit with affiliate	30,700	0
Repayment of line of credit with affiliate	-10,700	0
Distributions to investors	-1,225	0
Deferred financing costs paid	-2,611	0
Net cash provided by financing activities	353,603	200
Net increase in cash and cash equivalents	6,707	200
Cash and cash equivalents, beginning of period	200	0
Cash and cash equivalents, end of period	$6,907	$200

Organization_and_Business

Organization and Business	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	ORGANIZATION AND BUSINESS
	Cole Credit Property Trust V, Inc. (the “Company”, “we”, “our” or “us”) is a Maryland corporation that was formed on December 12, 2012, our date of inception, that intends to elect and qualify as a real estate investment trust (“REIT”) for federal income tax purposes. We are the sole general partner of, and own, directly or indirectly, 100% of the partnership interests in Cole Operating Partnership V, LP, a Delaware limited partnership (“CCPT V OP”). We are externally managed by Cole REIT Advisors V, LLC, a Delaware limited liability company (“CR V Advisors”), which was, prior to the ARCP Merger (as defined below), indirectly owned by Cole Real Estate Investments, Inc. (“Cole”, formerly known as Cole Credit Property Trust III, Inc.) as a result of Cole acquiring Cole Holdings Corporation (“CHC”) on April 5, 2013 pursuant to a transaction whereby CHC merged with and into CREInvestments, LLC (“CREI”), a wholly-owned subsidiary of Cole. On February 7, 2014, American Realty Capital Properties, Inc. (“ARCP”) acquired Cole pursuant to a transaction whereby Cole merged with and into Clark Acquisition, LLC, a wholly owned subsidiary of ARCP (“Merger Sub”), with Merger Sub surviving as a wholly owned subsidiary of ARCP (the “ARCP Merger”). ARCP is a self-managed publicly traded Maryland corporation listed on The NASDAQ Global Select Market, focused on acquiring and owning single tenant freestanding commercial properties subject to net leases with high credit quality tenants. As a result of the ARCP Merger, ARCP indirectly owns and/or controls our external advisor, CR V Advisors, our dealer manager, Cole Capital Corporation (“CCC”), our property manager, CREI Advisors, LLC (“CREI Advisors”), and our sponsor, Cole Capital®, and such entities are expected to continue to serve in their respective capacities to the Company, as discussed in Note 10 to these consolidated financial statements in this Annual Report on Form 10-K.
	Our sponsor, Cole Capital, which is comprised of a group of affiliated entities, including CR V Advisors, has sponsored various real estate investment programs. CR V Advisors, pursuant to an advisory agreement with us, is responsible for managing our affairs on a day-to-day basis and for identifying and making acquisitions and investments on our behalf. Pursuant to the advisory agreement, CR V Advisors has fiduciary obligations to us and our stockholders. Our charter provides that our independent directors are responsible for reviewing the performance of CR V Advisors and determining whether the compensation paid to CR V Advisors and its affiliates is reasonable. The advisory agreement with CR V Advisors is for a one- year term and is reconsidered on an annual basis by our board of directors.
	Pursuant to a registration statement on Form S-11 under the Securities Act of 1933 Registration No. 333-189891 and declared effective by the SEC on March 17, 2014, we commenced our initial public offering on a “best efforts” basis of up to a maximum of $2.975 billion in shares of common stock. On February 7, 2014, we effected a reverse stock split, whereby every two and one-half shares of our common stock issued and outstanding were combined into one share of our common stock, resulting in a price change per share (the “Reverse Stock Split”). As a result of the Reverse Stock Split, the initial public offering offers up to a maximum of approximately 100.0 million shares of its common stock at a price of $25.00 per share, subject to reduction in certain circumstances, and up to approximately 20.0 million additional shares to be issued pursuant to a distribution reinvestment plan (the “DRIP”) under which the Company’s stockholders may elect to have distributions reinvested in additional shares of common stock at a price of $23.75 per share (collectively, the “Offering”).
	On March 18, 2014, the Company satisfied the conditions of the escrow agreement regarding the minimum offering amount under the Offering and issued approximately 110,000 shares of its common stock to ARC Properties Operating Partnership, L.P. (“ARCP OP”), an affiliate of Cole Capital, resulting in gross proceeds of $2.5 million, and commenced principal operations.
	As of December 31, 2014, the Company had issued approximately 7.0 million shares of its common stock in the Offering for gross offering proceeds of $173.7 million before offering costs and selling commissions of $18.4 million.
	On October 29, 2014, ARCP announced that, as a result of preliminary findings of an independent investigation being conducted by its audit committee, certain of ARCP’s financial statements should no longer be relied upon. Subsequently, the dealer manager for the Offering was advised by several of the broker-dealers participating in the Offering that they would suspend their selling dealer agreements with the dealer manager, and by certain prospective broker-dealers that, for a period of time, they would suspend their initial review of the Offering prior to entering into a selling dealer agreement with the dealer manager. As of March 25, 2015, the Company had received $182.1 million in gross offering proceeds through the issuance of approximately 7.3 million shares of common stock in the Offering (including shares issued pursuant to the DRIP).
	The Company intends to use substantially all of the net proceeds from the Offering to acquire and operate a diversified portfolio of commercial real estate investments primarily consisting of necessity retail properties located throughout the United States, including U.S. protectorates. The Company uses the term “core” to describe existing properties currently operating and generating income that are leased to national and regional creditworthy tenants under long-term net leases and are strategically located. The Company’s retail properties primarily will be single-tenant properties and multi-tenant “power centers” anchored by large, creditworthy national or regional retailers. The Company expects that its retail properties will typically be subject to long-term triple net or double net leases, which means the tenant will be obligated to pay for most of the expenses of maintaining the property. As of December 31, 2014, the Company owned 79 properties, comprising 1.9 million rentable square feet of commercial space located in 26 states. As of December 31, 2014, the rentable space at these properties was 99% leased.
	Effective as of December 12, 2014, Nicholas S. Schorsch resigned as a director, the chairman of the board of directors of the Company (the “Board”), the chief executive officer and the president of the Company. In addition, effective as of December 12, 2014, Mr. Schorsch resigned as the chief executive officer of CR V Advisors, as the executive chairman of ARCP and as director of CCC. Effective December 24, 2014, Michael T. Ezzell was appointed as a director, the chief executive officer and the president of the Company by the Board. Effective September 5, 2014, Simon J. Misselbrook was appointed chief financial officer and treasurer of the Company by the Board, and effective March 25, 2014, Christine T. Brown was appointed principal accounting officer of the Company by the Board.
	An affiliate of ARCP entered into a definitive agreement (the “RCAP Agreement”), dated as of September 30, 2014, with RCS Capital Corporation (“RCAP”) pursuant to which RCAP would have acquired Cole Capital. The acquisition would have included CR V Advisors and CCC. Additionally, the parties entered into a strategic arrangement by which an indirect wholly-owned subsidiary of ARCP would have acted as sub-advisor to the non-traded REITs sponsored by Cole Capital (the “Managed Funds”), including the Company, and would have acquired property and managed real estate assets for the Managed Funds.
	On November 3, 2014, RCAP publicly announced that it had notified ARCP of its purported termination of the RCAP Agreement. On November 11, 2014, ARCP filed a complaint in the Court of Chancery of the State of Delaware against RCAP alleging that RCAP’s attempt to terminate the RCAP Agreement constituted a breach of the RCAP Agreement and seeking, among other things, specific performance of the RCAP Agreement or, in the alternative, money damages. On December 4, 2014, ARCP announced that it had entered into a settlement agreement with RCAP that resolved the dispute over RCAP’s attempt to terminate the RCAP Agreement. ARCP received $60.0 million in the settlement.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”), in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements.
	Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Consolidated results of operations for the year ended December 31, 2013 and for the period from December 12, 2012 (Date of Inception) to December 31, 2012 have not been presented because the Company had not begun its principal operations and had no revenue or expenses during those periods.
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	Investment in and Valuation of Real Estate Assets
	Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, excluding acquisition-related expenses, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets and leasing costs. All repairs and maintenance are expensed as incurred.
	The Company is required to make subjective assessments as to the useful lives of its depreciable assets. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life of the assets. Real estate assets, other than land, are depreciated or amortized on a straight-line basis. The estimated useful lives of the Company’s real estate assets by class are generally as follows:
	Buildings	40 years
	Tenant improvements	Lesser of useful life or lease term
	Intangible lease assets	Lease term
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value will be determined using a discounted cash flow analysis and recent comparable sales transactions. No impairment indicators were identified and no impairment losses were recorded during the year ended December 31, 2014.
	When developing estimates of expected future cash flows, the Company makes certain assumptions regarding future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, terminal capitalization and discount rates, the expected number of months it takes to re-lease the property, required tenant improvements and the number of years the property will be held for investment. The use of alternative assumptions in estimating expected future cash flows could result in a different determination of the property’s expected future cash flows and a different conclusion regarding the existence of an impairment, the extent of such loss, if any, as well as the fair value of the real estate assets.
	When a real estate asset is identified by the Company as held for sale, the Company will cease depreciation and amortization of the assets related to the property and estimate the fair value, net of selling costs. If, in management’s opinion, the fair value, net of selling costs, of the asset is less than the carrying amount of the asset, an adjustment to the carrying amount would be recorded to reflect the estimated fair value of the property, net of selling costs. There were no assets identified as held for sale as of December 31, 2014.
	Allocation of Purchase Price of Real Estate Assets
	Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and identified intangible assets and liabilities, consisting of the value of above market and below market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition-related expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The Company obtains an independent appraisal for each real property acquisition. The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information.
	The fair values of above market and below market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including any bargain renewal periods, with respect to a below market lease. The above market and below market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above market or below market 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 commissions and other direct costs and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed.
	The Company may acquire certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrow funds to the Company or the seller or a combination thereof. Contingent consideration arrangements will be based on a predetermined formula and have set time periods regarding the obligation to make future payments, including funds released to the seller from escrow accounts, or the right to receive escrowed funds as set forth in the respective purchase and sale agreement. Contingent consideration arrangements, including amounts funded through an escrow account, will be recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value, subsequent to acquisition, will be reflected in the accompanying condensed consolidated statements of operations. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management.
	The Company estimates the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable are initially recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance is amortized or accreted to interest expense over the term of the respective mortgage note payable.
	The determination of the fair values of the real estate assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, capitalization and discount rates, interest rates and other variables. The use of alternative estimates may result in a different allocation of the Company’s purchase price, which could impact the Company’s results of operations.
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with maturities when purchased of three months or less to be cash equivalents. The Company considers investments in highly liquid money market accounts to be cash equivalents.
	Rents and Tenant Receivables
	Rents and tenant receivables primarily include amounts to be collected in future periods related to the recognition of rental income on a straight-line basis over the lease term and cost recoveries due from tenants. The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy, if any, are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company’s reported net income or loss is directly affected by management’s estimate of the collectability of accounts receivable. The Company records allowances for those balances that the Company deems to be uncollectible, including any amounts relating to straight-line rent receivables. As of December 31, 2014, no balances were deemed uncollectible and no allowance was recorded.
	Deferred Financing Costs
	Deferred financing costs are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method. If a note payable is prepaid, any unamortized deferred financing costs related to the note payable would be expensed. Amortization of deferred financing costs was $258,000 for the year ended December 31, 2014 and was included in interest expense in the consolidated statement of operations.
	Due from Affiliates
	As of December 31, 2014, $110,000 was due from CR V Advisors and its affiliates primarily related to amounts paid by the Company on dead deals which are reimbursable by the advisor. As of December 31, 2013, there was no amount due from CR V Advisors and its affiliates.
	Prepaid Expenses
	Prepaid expenses will include expenses paid as of the balance sheet date that relate to future periods and will be expensed or reclassified to another account during the period to which the costs relate. Any amounts with no future economic benefit will be charged to earnings when identified.
	Concentration of Credit Risk
	As of December 31, 2014, we had cash on deposit, including restricted cash, at one financial institution, in which we had deposits in excess of federally insured levels totaling $6.7 million; however, we have not experienced any losses in such accounts. We limit significant cash deposits to accounts held by financial institutions with high credit standing; therefore, we believe we are not exposed to any significant credit risk on its cash deposits.
	As of December 31, 2014, two tenants accounted for greater than 10% of our 2014 gross annualized rental revenue: Walgreens (24%) and United Oil (13%). We had certain geographic concentrations in its property holdings. In particular, as of December 31, 2014, seven of our properties were located in Texas, 13 were located in California, six were located in Louisiana, and three were located in Oklahoma, which accounted for 14%, 13%, 12%, and 11%, respectively, of our 2014 gross annualized rental revenues. In addition, we had tenants in the drugstore, convenience store, and discount store industries, which comprised 25%, 13%, and 12%, respectively, of our 2014 gross annualized rental revenues.
	Offering and Related Costs
	CR V Advisors funds all of the organization and offering costs on the Company’s behalf (excluding selling commissions and dealer manager fees) and may be reimbursed for such costs up to 2.0% of aggregate gross proceeds from the Offering. As of December 31, 2014, CR V Advisors had paid organization and offering costs in excess of the 2.0% in connection with the Offering. These excess costs were not included in the financial statements of the Company because such costs were not a liability of the Company as they exceeded 2.0% of aggregate gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess costs may become payable. When recorded by the Company, organization costs are expensed as incurred, and offering costs, which include items such as legal and accounting fees, marketing, personnel, promotional and printing costs, are recorded as a reduction of capital in excess of par value along with selling commissions and dealer manager fees in the period in which they become payable.
	Due to Affiliates
	Certain affiliates of CR V Advisors received, and will continue to receive fees, reimbursements and compensation in connection with services provided relating to the Offering and the acquisition, management, financing and leasing of the properties of the Company.
	Redeemable Common Stock
	Under the Company’s share redemption program, the Company’s requirement to redeem shares of its outstanding common stock is limited, among other things, to the net proceeds received by the Company from the sale of shares under the DRIP, net of shares redeemed to date. The Company records amounts that are redeemable under the share redemption program as redeemable common stock outside of permanent equity in its consolidated balance sheets. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value.
	Interest
	Interest is charged to interest expense as it accrues. No interest costs were capitalized during the years ended December 31, 2014 and 2013.
	Distributions Payable and Distribution Policy
	In order to qualify and maintain its status as a REIT, the Company is required to, among other things, make distributions each taxable year equal to at least 90% of its taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). To the extent that funds are available, the Company intends to pay regular distributions to stockholders. Distributions are paid to stockholders of record as of applicable record dates. The Company intends to qualify and elect to be taxed as a REIT for federal income tax purposes commencing with its taxable year ending December 31, 2014; however, the Company has not yet elected, and has not yet qualified, to be taxed as a REIT, as it did not commence principal operations until March 18, 2014.
	The Company’s board of directors authorized a daily distribution, based on 365 days in the calendar year, of $0.0043150685 per share (which equates to 6.30% on an annualized basis calculated at the current rate, assuming a $25.00 per share purchase price) for stockholders of record as of the close of business on each day of the period commencing on March 19, 2014 and ending on June 30, 2015. As of December 31, 2014, the Company had distributions payable of $929,000.
	Stockholders’ Equity
	As of December 31, 2014 and 2013, the Company was authorized to issue 490.0 million shares of common stock and 10.0 million shares of preferred stock. All shares of such stock have a par value of $0.01 per share. On February 15, 2013, the Company sold 100 shares of common stock, at $10.00 per share, to a predecessor of CREI, and on June 19, 2013, the Company sold 19,900 shares of common stock, at $10.00 per share, to CREI, each of which was formerly the indirect owner of CR V Advisors and CCC. Subsequent to December 31, 2013, the ownership of such shares was transferred to ARCP OP. In addition, the shares issued and outstanding, as well as the dollar amount of common stock and capital in excess of par value, as of December 31, 2013 have been retroactively adjusted to reflect the Reverse Stock Split. Pursuant to the Company’s charter, ARCP OP is prohibited from selling the 8,000 shares of the common stock that represents the initial investment in the Company for so long as Cole Capital remains the Company’s sponsor; provided, however, that ARCP OP may transfer ownership of all or a portion of these 8,000 shares of the Company’s common stock to other affiliates of the Company’s sponsor. The Company’s board of directors may amend the Company’s charter from time to time to increase or decrease the aggregate number of shares of stock or the number of shares of stock of any class or series that the Company has authority to issue without obtaining stockholder approval. The par value of investor proceeds raised from the Offering is classified as common stock, with the remainder allocated to capital in excess of par value.
	Reportable Segment
	The Company invests in income-producing necessity retail properties that are single-tenant or multi-tenant “power centers,” which are leased to national and regional creditworthy tenants under long-term net leases, and are strategically located throughout the United States and U.S. protectorates. The commercial properties are geographically diversified and have similar economic characteristics. The Company evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
	Revenue Recognition
	Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred.
	Earnings (Loss) Per Share
	Earnings (loss) per share are calculated based on the weighted average number of common shares outstanding during each period presented. Diluted income (loss) per share considers the effect of any potentially dilutive share equivalents, of which the Company had none for the year ended December 31, 2014.
	Income Taxes
	The Company intends to elect to be taxed as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ending December 31, 2014, as it did not commence principal operations until March 18, 2014. If the Company qualifies for taxation as a REIT, 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 qualifies for taxation as a REIT, it or its subsidiaries may be subject to certain state and local taxes on its income and property and federal income and excise taxes on its undistributed income.
	Recent Accounting Pronouncements
	In April 2014, the U.S. Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), which amends the reporting requirements for discontinued operations by updating the definition of a discontinued operation to be a component of an entity that represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results, resulting in fewer disposals that qualify for discontinued operations reporting; yet, the pronouncement also requires expanded disclosures for discontinued operations. The adoption of ASU 2014-08 did not have a material impact on the Company’s consolidated financial statements because the Company did not have any discontinued operations.
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes the revenue recognition requirements in Revenue Recognition (Topic 605), and requires an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers, including real estate sales, in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company does not believe ASU 2014-09, when effective, will have a material impact on the Company’s consolidated financial statements.
	In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which requires management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. ASU 2014-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early application permitted. The Company does not believe ASU 2014-15, when effective, will have a material impact on the Company’s consolidated financial statements because the Company currently does not have any conditions that give rise to substantial doubt about its ability to continue as a going concern.
	In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”), which eliminates the deferral of FAS 167 and makes changes to both the variable interest model and the voting model. These changes will require re-evaluation of certain entities for consolidation and will require the Company to revise its documentation regarding the consolidation or deconsolidation of such entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The Company does not believe ASU 2015-02, when effective, will have a material impact on the Company’s financial statements.

Fair_Value_Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS
	GAAP defines fair value, establishes a framework for measuring fair value, and requires disclosures about fair value measurements. GAAP emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement.
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate the fair value. Assets and liabilities are measured using inputs from three levels of the fair value hierarchy, as follows:
	Level 1 – Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
	Level 2 – Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e. interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs).
	Level 3 – Unobservable inputs, which are only used to the extent that observable inputs are not available, reflect the Company’s assumptions about the pricing of an asset or liability.
	The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities:
	Cash and cash equivalents – The Company considers the carrying values of these financial assets to approximate fair value because of the short period of time between their origination and their expected realization. These financial assets are considered Level 1.
	Credit facility, notes payable and line of credit with affiliate – The fair value is estimated by discounting the expected cash flows based on estimated borrowing rates available to the Company as of the measurement date. As of December 31, 2014, the estimated fair value of the Company’s debt was $249.7 million compared to the carrying value of $247.1 million. The Company had no debt outstanding as of December 31, 2013. The fair value of the Company’s debt is estimated using Level 2 inputs.
	Considerable judgment is necessary to develop estimated fair values of financial assets and liabilities. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize, or be liable for, on disposition of the financial assets and liabilities. As of December 31, 2014, there have been no transfers of financial assets or liabilities between fair value hierarchy levels.

Real_Estate_Acquisitions

Real Estate Acquisitions	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
REAL ESTATE ACQUISITIONS	REAL ESTATE ACQUISITIONS
	2014 Property Acquisitions
	During the year ended December 31, 2014, the Company acquired 79 commercial properties for an aggregate purchase price of $383.8 million (the “2014 Acquisitions”). The Company purchased the 2014 Acquisitions with net proceeds from the Offering and available borrowings. The Company allocated the purchase price of these properties to the fair value of the assets acquired and liabilities assumed. The following table summarizes the purchase price allocation (in thousands):
		December 31, 2014
	Land	$	87,406
	Building and improvements	258,912
	Acquired in-place leases	36,433
	Acquired above market leases	5,929
	Acquired below market leases	(3,870		)
	Fair value adjustment of assumed notes payable	(994		)
	Total purchase price	$	383,816
	The Company recorded revenue for the year ended December 31, 2014 of $6.1 million and a net loss for the year ended December 31, 2014 of $12.1 million related to the 2014 Acquisitions. In addition, the Company recorded $12.0 million of acquisition-related expenses for the year ended December 31, 2014.
	The following information summarizes selected financial information of the Company as if all of the 2014 Acquisitions were completed on March 18, 2014, the date the Company commenced principal operations. The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the year ended December 31, 2014 (in thousands):
		Period from March 18, 2014 to
		December 31, 2014
	Pro forma basis (unaudited):
	Revenue	$	34,477
	Net income (loss)	$	9,141
	The unaudited pro forma information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2014, nor does it purport to represent the results of future operations.
	Escrowed Funds for Acquisition of Real Estate Investment
	During the year ended December 31, 2014, the Company agreed to purchase a portfolio of properties leased by Arpo, LLC, which includes 14 properties, pursuant to a purchase and sale agreement. During the year ended December 31, 2014, the Company funded all 14 properties, of which the acquisition of 13 of the properties closed. The last property in the portfolio did not close, and the agreement to purchase this property for $5.9 million was terminated. As of December 31, 2014, $5.9 million had been refunded to the company from escrowed funds for acquisition of real estate investment.

Intangible_Lease_Assets

Intangible Lease Assets	12 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE LEASE ASSETS	INTANGIBLE LEASE ASSETS
	Intangible lease assets consisted of the following (in thousands, except weighted average life amounts):
				As of December 31,
				2014
	In-place leases, net of accumulated amortization of $735
		(with a weighted average life remaining of 12.9 years)		$	35,698
	Acquired above market leases, net of accumulated amortization of $88
		(with a weighted average life remaining of 13.6 years)		5,841
				$	41,539
	Amortization expense related to the in place lease assets for the year ended December 31, 2014 was $735,000. Amortization expense related to the acquired above market lease assets for the year ended December 31, 2014 was $88,000 and was recorded as a reduction to rental and other property income in the consolidated statements of operations.
	Estimated amortization expense related to the intangible lease assets as of December 31, 2014 for each of the five succeeding fiscal years is as follows (in thousands):
			Amortization
	Year Ending December 31,		In-Place Leases			Above Market Leases
	2015		$	3,610		$	556
	2016		$	3,388		$	552
	2017		$	3,244		$	529
	2018		$	3,109		$	500
	2019		$	2,972		$	470

Credit_Facility_and_Line_of_Cr

Credit Facility and Line of Credit With Affiliate	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
CREDIT FACILITY AND LINE OF CREDIT WITH AFFILIATE	CREDIT FACILITY AND LINE OF CREDIT WITH AFFILIATE
	As of December 31, 2014, the Company had $247.1 million of debt outstanding, with a weighted average years to maturity of 3.0 years and weighted average interest rate of 3.1%. The following table summarizes the debt balances as of December 31, 2014 and 2013, and the debt activity for the year ended December 31, 2014 (in thousands):
		Balance as of		During The Year Ended December 31, 2014							Balance as of
		31-Dec-13		Debt Issuance		Repayments			Other(1)		31-Dec-14
	Credit facility	$	—	$	161,153	$	(2,653	)	—		$	158,500
	Fixed rate debt	—		67,750		—			895		68,645
	Line of credit with affiliate	—		30,700		(10,700		)	—		20,000
	Total	$	—	$	259,603	$	(13,353	)	$	895	$	247,145
	(1) Represents fair value adjustment of an assumed mortgage note payable, net of accretion.
	The Company has a modified and secured revolving credit facility (the “Credit Facility”) with JPMorgan Chase Bank, N.A. (“JPMorgan Chase”) as administrative agent, and Bank of America, N.A. and Capital One, N.A., as new lenders, which allows the Company to borrow up to $300.0 million in revolving loans (the “Revolving Loans”), with the maximum amount outstanding not to exceed the borrowing base, calculated as 70% of the aggregate value allocated to each qualified property comprising eligible collateral (the “Qualified Properties”). As of December 31, 2014, the Company had $158.5 million of debt outstanding under its secured revolving credit facility with JPMorgan Chase. Under the Credit Facility as of December 31, 2014, $47.8 million was available for borrowing based on the underlying collateral pool of $206.3 million. Subject to meeting certain conditions described in the credit agreement for the Credit Facility (the “Credit Agreement”) and the payment of certain fees, the amount of the Credit Facility may be increased up to a maximum of $750.0 million. Additionally, subject to meeting certain conditions described in the Credit Agreement, including obtaining Qualified Properties with an aggregate value of $500.0 million, the secured Credit Facility may be converted to an unsecured credit facility, at which time certain terms and conditions, including interest rates, will be adjusted as described in the Credit Agreement. The Credit Facility matures on April 25, 2017; however, the Company may elect to extend the maturity dated of certain loans to April 25, 2019 subject to satisfying certain conditions described in the Credit Agreement.
	The Revolving Loans will bear interest at rates depending upon the type of loan specified by the Company. For a eurodollar rate loan, as defined in the Credit Agreement, the interest rate will be equal to the one-month, two-month, three-month or six-month LIBOR for the interest period, as elected by the Company, multiplied by the statutory reserve rate (as defined in the Credit Agreement), plus the applicable rate (the “Eurodollar Applicable Rate”). The Eurodollar Applicable Rate is based upon the overall leverage ratio, generally defined in the Credit Agreement as the total consolidated outstanding indebtedness of the Company divided by the total consolidated asset value of the Company (the “Leverage Ratio”), and ranges from 1.90% at a Leverage Ratio of 50.0% or less to 2.75% at a Leverage Ratio greater than 65.0%. For base rate committed loans, the interest rate will be a per annum amount equal to 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) one-month LIBOR multiplied by the Statutory Reserve Rate (as defined in the Credit Agreement) plus 1.0% plus the applicable rate (the “Base Rate Applicable Rate”). The Base Rate Applicable Rate is based upon the Leverage Ratio, and ranges from 0.90% at a Leverage Ratio of 50.0% or less to 1.75% at a Leverage Ratio greater than 65.0%. As of December 31, 2014, the Revolving Loans had an interest rate of 2.37%.
	The Credit Agreement contains customary representations, warranties, borrowing conditions and affirmative, negative and financial covenants, including minimum net worth, debt service coverage and leverage ratio requirements, maximum variable rate, recourse debt requirements and dividend payout requirements. In particular, the Credit Agreement required the Company to maintain a minimum consolidated net worth of at least $130.1 million as of December 31, 2014, a leverage ratio less than or equal to 70.0% and a fixed charge coverage ratio equal to or greater than 1.50. Based on the Company’s analysis and review of its results of operations and financial condition, the Company believes it was in compliance with the covenants of the Credit Facility as of December 31, 2014.
	Additionally, during the year ended December 31, 2014, in connection with certain property acquisitions with an aggregate purchase price of $52.5 million, the Company assumed two mortgage loan agreements from the sellers, both with Capmark Bank, a Utah Industrial Bank, in the aggregate principal amount of $42.8 million. The loans each bear interest at a fixed rate of 5.66% per annum with interest payments due monthly. The principal amount will be due April 1, 2017, the maturity date. The loans are non-recourse to the Company, but the Company is liable for customary non-recourse carve-outs. The loans contain customary financial, affirmative and negative covenants and other customary events of default.
	In connection with the acquisition of a Walgreens Portfolio, on November 26, 2014, the Company’s operating partnership, through certain of its wholly-owned subsidiaries, entered into a mortgage loan agreement with Ladder Capital Finance LLC (the Walgreens Lender), in the aggregate principal amount of $25.0 million (the “Ladder Loan”). The Ladder Loan is collateralized by the six single-tenant commercial properties of the Walgreens Portfolio, which were purchased for an aggregate collective purchase price of approximately $35.8 million, exclusive of closing costs. The Ladder Loan bears interest at a fixed rate of 4.45% per annum with interest payments due monthly. The principal amount will be due December 6, 2024, the maturity date. The Company generally does not have the right to prepay the Ladder Loan in whole, or in part, prior to October 6, 2024. There is no prepayment penalty due if the Company elects to prepay the Ladder Loan in whole on or after October 6, 2024. The Ladder Loan is non-recourse to the Company and its subsidiaries, but they are each liable for customary non-recourse carve-outs. The Ladder Loan contains customary financial, affirmative and negative covenants and other customary events of default. Upon the occurrence of an event of default, interest on the Ladder Loan will accrue at an annual default interest rate equal to the lesser of 9.45% per annum or the highest rate permitted by the applicable law governing the Ladder Loan and any outstanding principal and interest would be payable on the demand of the Walgreens Lender.
	During the year ended December 31, 2014, the Company entered into a modification agreement with Series C, LLC (“Series C”), an affiliate of CR V Advisors, in order to increase the maximum principal amount and extend the maturity date of the Company’s original subordinate revolving line of credit to $60.0 million (the “Series C Loan”). The Series C Loan bears interest at a rate per annum equal to the one-month LIBOR plus 2.20% with accrued interest payable monthly in arrears and principal due upon maturity on March 17, 2016. The Series C Loan had an interest rate of 2.36% as of December 31, 2014. In the event the Series C Loan is not paid off on the maturity date, the loan includes usual and customary default provisions. The Series C Loan was approved by a majority of the Company’s board of directors (including a majority of the independent directors) not otherwise interested in the transaction as being fair, competitive and commercially reasonable and no less favorable to the Company than a comparable loan between unaffiliated parties under the same circumstances. As of December 31, 2014, the Company had $20.0 million of debt outstanding and $40.0 million available for borrowing under the Series C Loan.
	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2014 for each of the five succeeding fiscal years and the period thereafter (in thousands):
	Year Ending December 31,	Principal Repayments
	2015	$	—
	2016	20,000
	2017	201,250
	2018	—
	2019	—
	Thereafter	25,000
	Total	$	246,250

Acquired_Below_Market_Lease_In

Acquired Below Market Lease Intangibles	12 Months Ended
	Dec. 31, 2014
Intangible Liabilities Disclosure [Abstract]
ACQUIRED BELOW MARKET LEASE INTANGIBLES	ACQUIRED BELOW MARKET LEASE INTANGIBLES
	Acquired below market lease intangibles consisted of the following (in thousands, except weighted average life amounts):
				As of December 31,
				2014
	Acquired below market leases, net of accumulated amortization of $47
		(with a weighted average life remaining of 8.6 years)		$	3,823
	Amortization of the intangible lease liabilities during the year ended December 31, 2014 was $47,000 and was recorded as an addition to rental and other property income in the consolidated statement of operations.
	Estimated amortization of the intangible lease liabilities as of December 31, 2014 for each of the five succeeding fiscal years is as follows (in thousands):
	Year Ending December 31,		Amortization of Below Market Leases
	2015		$	480
	2016		$	443
	2017		$	434
	2018		$	428
	2019		$	389

Supplemental_Cash_Flow_Disclos

Supplemental Cash Flow Disclosures	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES
	Supplemental cash flow disclosures for the year ended December 31, 2014 are as follows (in thousands):
		Year Ended
		December 31, 2014
	Supplemental Disclosures of Non-Cash Investing and Financing Activities:
	Fair value of mortgage notes assumed in real estate acquisitions at date of assumption	$	43,744
	Common stock issued through distribution reinvestment plan	$	1,471
	Escrow deposits due to affiliate on acquired real estate assets	$	1,271
	Distributions declared and unpaid	$	929
	Accrued dealer manager fee and other offering costs	$	76
	Supplemental Cash Flow Disclosures:
	Interest paid	$	1,265

Commitments_and_Contingencies

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

RelatedParty_Transactions_and_

Related-Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS
	The Company has incurred, and will continue to incur, commissions, fees and expenses payable to CR V Advisors and certain of its affiliates in connection with the Offering, and the acquisition, management and disposition of its assets.
	Offering
	In connection with the Offering, CCC, the Company’s dealer manager, which is affiliated with CR V Advisors, receives a selling commission of up to 7.0% of gross offering proceeds from the primary portion of the Offering before reallowance of commissions earned by participating broker-dealers. CCC intends to reallow 100% of selling commissions earned to participating broker-dealers. In addition, CCC receives up to 2.0% of gross offering proceeds before reallowance to participating broker-dealers as a dealer manager fee in connection with the primary portion of the Offering. CCC, in its sole discretion, may reallow all or a portion of its dealer manager fee to such participating broker-dealers. No selling commissions or dealer manager fees are paid to CCC or other broker-dealers with respect to shares sold pursuant to the DRIP.
	All other organization and offering expenses associated with the sale of the Company’s common stock (excluding selling commissions and dealer manager fees) are paid by CR V Advisors or its affiliates and are 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. As of December 31, 2014, CR V Advisors had paid organization and offering costs in excess of the 2.0% in connection with the Offering. These excess costs were not included in the financial statements of the Company because such costs were not a liability of the Company as they exceeded 2.0% of gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess costs may become payable.
	The Company recorded commissions, fees and expense reimbursements as shown in the table below for services provided by CR V Advisors or its affiliates related to the services described above during the period indicated (in thousands):
		Year Ended
		December 31, 2014
	Offering:
	Selling commissions	$	11,532
	Selling commissions reallowed by CCC	$	11,532
	Dealer manager fees	$	3,402
	Dealer manager fees reallowed by CCC	$	1,793
	Other organization and offering expenses	$	3,475
	As of December 31, 2014, $76,000 had been incurred, but not yet paid, for services provided by CR V Advisors or its affiliates in connection with the offering stage. As the Company did not commence principal operations until March 18, 2014, the Company did not incur any selling commissions, dealer manager fees or expense reimbursements in connection with the offering and recorded in the balance sheet as due to affiliates during the year ended December 31, 2013.
	Acquisitions and Operations
	CR V Advisors or its affiliates also receive acquisition fees of up to 2.0% of: (1) the contract purchase price of each property or asset the Company acquires; (2) the amount paid in respect of the development, construction or improvement of each asset the Company acquires; (3) the purchase price of any loan the Company acquires; and (4) the principal amount of any loan the Company originates. In addition, the Company reimburses CR V Advisors or its affiliates for insourced expenses incurred in the process of acquiring a property or the origination or acquisition of a loan, which are fixed on an annual basis to 0.5% of the contract purchase price and 0.5% of the amount advanced for a loan or other investment and for all such loans and investments on an annualized basis. Additionally, CR V Advisors or its affiliates are reimbursed for acquisition-related expenses incurred in the process of acquiring properties, so long as the total acquisition fees and expenses relating to the transaction do not exceed 6.0% of the contract purchase price.
	The Company pays CR V Advisors a monthly advisory fee based upon the Company’s monthly average invested assets, which is equal to the following amounts: (1) an annualized rate of 0.75% paid on the Company’s average invested assets that are between $0 to $2.0 billion; (2) an annualized rate of 0.70% paid on the Company’s average invested assets that are between $2.0 billion to $4.0 billion; and (3) an annualized rate of 0.65% paid on the Company’s average invested assets that are over $4.0 billion.
	The Company reimburses CR V Advisors, or its affiliates, for the expenses they paid or incurred in connection with the advisory and administrative services provided to the Company, subject to the limitation that the Company will not reimburse for any amount by which its operating expenses (including the advisory fee) at the end of the four preceding fiscal quarters exceeds the greater of: (1) 2.0% of average invested assets, or (2) 25.0% of net income other than any additions to reserves for depreciation, bad debts or other similar non-cash reserves and excluding any gain from the sale of assets for that period.
	The Company recorded fees and expense reimbursements as shown in the table below for services provided by CR V Advisors or its affiliates related to the services described above during the period indicated (in thousands):
		Year Ended
		December 31, 2014
	Acquisition and Operations:
	Acquisition fees and expenses	$	9,631
	Advisory fees and expenses	$	751
	Operating expenses	$	344
	As of December 31, 2014, $1.9 million had been incurred, but not yet paid, for services provided by CR V Advisors or its affiliates in connection with the Company’s acquisitions and was a liability to the Company. As the Company did not commence principal operations until March 18, 2014, the Company did not incur any fees or expense reimbursements in connection with the acquisitions and operations and recorded in the balance sheet as due to affiliates during the year ended December 31, 2013. During the year ended December 31, 2014, CR V Advisors permanently waived its rights to expense reimbursements totaling approximately $773,000, and thus the Company is not responsible for this amount.
	Liquidation/Listing
	If CR V Advisors or its affiliates provide a substantial amount of services (as determined by a majority of the Company’s independent directors) in connection with the sale of properties, the Company will pay CR V Advisors or its affiliates a disposition fee in an amount equal to up to one-half of the brokerage commission paid on the sale of the property, not to exceed 1.0% of the contract price of the property sold; provided, however, in no event may the disposition fee paid to CR V Advisors or its affiliates, when added to the real estate commissions paid to unaffiliated third parties, exceed the lesser of the customary competitive real estate commission or an amount equal to 6.0% of the contract sales price. In addition, if CR V Advisors or its affiliates provides a substantial amount of services, as determined by a majority of the Company’s independent directors, in connection with the sale of one or more assets other than properties, the Company may separately compensate CR V Advisors at such rates and in such amounts as the Company’s board of directors, including a majority of the Company’s independent directors, and CR V Advisors agree upon, not to exceed an amount equal to 1.0% of the contract price of the asset sold.
	In addition, the Company will pay a subordinated performance fee under one of the following alternative events: (1) if the Company’s shares are listed on a national securities exchange, CR V Advisors, or its affiliates, will be entitled to a subordinated performance fee equal to 15.0% of the amount, if any, by which (i) the market value of the Company’s outstanding stock plus distributions paid by the Company prior to listing, exceed (ii) the sum of the total amount of capital raised from investors and the amount of distributions necessary to generate a 6.0% annual cumulative, non-compounded return to investors; (2) if the Company is sold or its assets are liquidated, CR V Advisors will be entitled to a subordinated performance fee equal to 15.0% of the net sale proceeds remaining after investors have received a return of their net capital invested and a 6.0% annual cumulative, non-compounded return; or (3) upon termination of the advisory agreement, CR V Advisors may be entitled to a subordinated performance fee similar to which it would have been entitled had the portfolio been liquidated (based on an independent appraised value of the portfolio) on the date of termination.
	During each of the years ended December 31, 2014 and 2013, no commissions or fees were recorded for any services provided by CR V Advisors and its affiliates in connection with the liquidation/listing stage.
	Due to Affiliates
	As of December 31, 2014, approximately $2.0 million had been incurred primarily for advisory, operating and acquisition-related expenses by CR V Advisors or its affiliates, but had not yet been reimbursed by the Company, and was included in due to affiliates in the consolidated balance sheets.
	Transactions
	In connection with the real estate assets acquired from Series C during the year ended December 31, 2014, the Company entered into the Series C Loan. Refer to Note 6 for the terms of the Series C Loan. As of December 31, 2014, the Company had $20.0 million outstanding under the Series C Loan. The Company incurred $131,000 of interest due to an affiliate of CR V Advisors related to the Series C Loan during the year ended December 31, 2014. During the year ended December 31, 2013, the Company did not enter into any loan agreements with affiliates of the CR V Advisors.

Economic_Dependency

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

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY
	As of December 31, 2014 and 2013, the Company was authorized to issue 490.0 million shares of common stock and 10.0 million shares of preferred stock. All shares of such stock have a par value of $0.01 per share. On June 19, 2013, the Company sold 20,000 shares of common stock, at $10.00 per share, to CREI Investments, LLC and its predecessor. The Company’s board of directors may authorize additional shares of capital stock and amend their terms without obtaining shareholder approval. Effective as of February 7, 2014, the Company effected a reverse stock split, whereby every two and one-half shares of its common stock issued and outstanding were combined into one share of common stock, resulting in 8,000 shares of our common stock issued and outstanding. On February 7, 2014, the ownership of such shares was transferred to ARCP. Pursuant to the Company’s charter, ARCP is prohibited from selling the 8,000 shares of the common stock that represents the initial investment in the Company for so long as Cole Capital remains the Company’s sponsor; provided, however, that ARCP may transfer ownership of all or a portion of these 8,000 shares of the Company’s common stock to other affiliates of the Company’s sponsor.
	Distribution Reinvestment Plan
	Pursuant to the DRIP, the Company allows stockholders to elect to have their distributions reinvested in additional shares of the Company’s common stock. The purchase price per share under the DRIP is $23.75 per share. The Company’s board of directors may terminate or amend the DRIP at the Company’s discretion at any time upon ten days prior written notice to the stockholders. During the year ended December 31, 2014, approximately 62,000 shares were purchased under the DRIP for approximately $1.5 million, which were recorded as redeemable common stock on the consolidated balance sheets. There were no shares purchased under the DRIP during the year ended December 31, 2013.
	Share Redemption Program
	The Company’s share redemption program permits its stockholders to sell their shares back to the Company after they have held them for at least one year, subject to the significant conditions and limitations described below.
	The share redemption program provides that the Company will redeem shares of its common stock from requesting stockholders, subject to the terms and conditions of the share redemption program. The Company will limit the number of shares redeemed pursuant to the share redemption program as follows: (1) the Company will not redeem in excess of 5% of the weighted average number of shares outstanding during the trailing 12 months prior to the end of the fiscal quarter for which the redemptions are being paid; and (2) funding for the redemption of shares will be limited to the net proceeds the Company receives from the sale of shares under the DRIP. In an effort to accommodate redemption requests throughout the calendar year, the Company intends to limit quarterly redemptions to approximately 1.25% of the weighted average number of shares outstanding during the trailing 12 month period ending on the last day of the fiscal quarter, and funding for redemptions for each quarter generally will be limited to the net proceeds the Company receives from the sale of shares in the respective quarter under the DRIP.
	During the term of the Offering, and until such time as the board of directors determines a reasonable estimate of the value of the Company’s shares, the redemption price per share (other than for shares purchased pursuant to the DRIP) will depend on the price paid for the shares and the length of time the stockholder has held such shares as follows: after one year from the purchase date, 95% of the amount paid for each share; after two years from the purchase date, 97.5% of the amount paid for each share; and after three years from the purchase date, 100% of the amount paid for each share. During this time period, the redemption price for shares purchased pursuant to the DRIP will be the amount paid for such shares (in each case, the redemption price will be adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to the Company’s common stock). Accordingly, the redemption price will reflect a stockholder’s reduced purchase price if such stockholder received discounted or waived selling commissions and/or a waived dealer manager fee. At any time the Company is engaged in an offering of shares, the per share price for shares purchased under the redemption program will always be equal to or lower than the applicable per share offering price.
	Upon receipt of a request for redemption, the Company may conduct a Uniform Commercial Code search to ensure that no liens are held against the shares. If the Company cannot purchase all shares presented for redemption in any fiscal quarter, based upon insufficient cash available and/or the limit on the number of shares the Company may redeem during any quarter or year, the Company will give priority to the redemption of deceased stockholders’ shares. The Company next will give priority to requests for full redemption of accounts with a balance of 250 shares or less at the time the Company receives the request, in order to reduce the expense of maintaining small accounts. Thereafter, the Company will honor the remaining redemption requests on a pro rata basis. Following such quarterly redemption period, the unsatisfied portion of the prior redemption request must be resubmitted, prior to the last day of the new quarter. Unfulfilled requests for redemption will not be carried over automatically to subsequent redemption periods.
	The Company redeems shares no later than the end of the month following the end of each fiscal quarter. Requests for redemption must be received on or prior to the end of the fiscal quarter in order for the Company to repurchase the shares in the month following the end of that fiscal quarter. The Company’s board of directors may amend, suspend or terminate the share redemption program at any time upon 30 days notice to the stockholders. The Company did not redeem any shares during the year ended December 31, 2014.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
INCOME TAX DISCLOSURE	INCOME TAXES
	For federal income tax purposes, distributions to stockholders are characterized as ordinary dividends, capital gain distributions, or nontaxable distributions. Nontaxable distributions will reduce U.S stockholders’ basis (but not below zero) in their shares. The following table shows the character of the distributions the Company paid on a percentage basis for the year ended December 31, 2014:
		Year Ended
	Character of Distributions (Unaudited):	December 31, 2014
	Ordinary dividends	32	%
	Nontaxable distributions	68	%
	Total	100	%
	As of December 31, 2014, the tax basis carrying value of the Company’s land and depreciable real estate assets was $383.1 million. During the year ended December 31, 2014, the Company distributed as dividends to its shareholders 100% of its taxable income for federal income tax purposes. Accordingly, no provision for federal income taxes related to such taxable income was recorded on the Company’s financial statements. During the year ended December 31, 2014, the Company incurred state and local income and franchise taxes of $96,000, which were recorded in general and administrative expenses in the consolidated statement of operations.
	The Company had no unrecognized tax benefits as of or during the year ended December 31, 2014. Any interest and penalties related to unrecognized tax benefits would be recognized within the provision for income taxes in the accompanying consolidated statement of operations. The Company files income tax returns in the U.S. federal jurisdiction, as well as various state jurisdictions, and is subject to routine examinations by the respective tax authorities.

Operating_Leases

Operating Leases	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
OPERATING LEASES	OPERATING LEASES
	The Company’s real estate properties are leased to tenants under operating leases for which the terms and expirations vary. As of December 31, 2014, the leases had a weighted-average remaining term of 12.7 years. The leases may have provisions to extend the lease agreements, options for early termination after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants.
	The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2014, was as follows (in thousands):
	Year Ending December 31,	Future Minimum Rental Income
	2015	$	27,708
	2016	27,389
	2017	26,818
	2018	26,157
	2019	25,335
	Thereafter	219,581
	Total	$	352,988

Quarterly_Results_Unaudited

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	QUARTERLY RESULTS (UNAUDITED)
	Presented below is a summary of the unaudited quarterly financial information for the year ended December 31, 2014 (in thousands, except 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, 2014
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	6		$	85		$	739		$	5,250
	Acquisition-related expenses	$	159		$	829		$	5,047		$	5,920
	Operating loss	$	(183	)	$	(953	)	$	(5,224	)	$	(4,129	)
	Net loss	$	(183	)	$	(986	)	$	(5,308	)	$	(5,640	)
	Basic and diluted net loss per common share (1)	$	(0.08	)	$	(0.43	)	$	(2.31	)	$	(2.45	)
	Distributions declared per common share	$	0.25		$	0.39		$	0.4		$	0.4
	(1) Based on the weighted average number of shares outstanding as of December 31, 2014.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS
	Status of the Offering
	As of March 25, 2015, the Company had received $182.1 million in gross offering proceeds through the issuance of approximately 7.3 million shares of common stock in the Offering (including shares issued pursuant to the DRIP).
	Credit Facility
	As of March 25, 2015, the Company had $202.0 million outstanding under the Credit Facility.
	Investment in Real Estate Assets
	Subsequent to December 31, 2014 through March 25, 2015, the Company acquired 24 commercial real estate properties for an aggregate purchase price of $48.0 million. The acquisitions were funded with net proceeds from the Offering and available borrowings. Acquisition-related expenses totaling $1.2 million were expensed as incurred. The Company has not completed its initial purchase price allocations with respect to these properties and therefore cannot provide similar disclosures to those included in Note 4 in these consolidated financial statements for these properties.
	Departure and Election of Directors and Officers
	On March 6, 2015, Elizabeth K. Tuppeny and Abby M. Wenzel resigned from the Board effective as of such date. Neither resignation was the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
	On March 12, 2015, the Board appointed Marcus E. Bromley as a director of the Company, filling one of the vacancies created by the resignations of Ms. Tuppeny and Ms. Wenzel. The Board has determined that Mr. Bromley is an independent director. On March 25, 2015, the Board appointed Mr. Bromley as a member and chairman of the audit committee of the Board.
	Marcus E. Bromley, age 65, has served as an independent director since March 12, 2015. Mr. Bromley served as a member of the board of directors of Cole Corporate Income Trust, Inc. (“CCIT”) and as a member of its audit committee from January 2011 until January 2015 when that company merged with Select Income REIT. From May 2005 until its merger with Spirit Realty Capital, Inc. in July 2013, Mr. Bromley served as a member of the board of directors of Cole Credit Property Trust II, Inc. and also served as the chairman of that company’s audit committee. He also served as a member of its audit committee from December 2008 until May 2012. From 1993 through 2005, Mr. Bromley served as a member of the board of trustees of Gables Residential Trust, a $3.0 billion multi-family residential REIT with operations in Texas, Georgia, South Florida, Washington, D.C. and Southern California that was listed on the New York Stock Exchange prior to its sale in 2005. From December 1993 until June 2000, Mr. Bromley was a division partner of Trammell Crow Residential from 1982 until 1993. Mr. Bromley also serves on the board of directors of SG Partners, a multifamily residential company headquartered in Atlanta, Georgia, and on the advisory board of Nancy Creek Capital, an Atlanta-based private equity firm. Mr. Bromley holds a B.S. in Economics from Washington & Lee University and an M.B.A. from the University of North Carolina. The Board selected Mr. Bromley to serve as a director of the Company because of Mr. Bromley’s experience as the chief executive officer of a public real estate company, his general knowledge of the real estate industry and his financing experience, all of which are expected to bring valuable insight to the board of directors and potential resources to the Company.
	The appointment of Mr. Bromley as a director was not made pursuant to any arrangement or understanding between Mr. Bromley and any other person. Mr. Bromley has not had any direct or indirect material interest in any transaction with the Company or to which the Company is a party or in any currently proposed transaction with the Company or to which the Company is a party. Mr. Bromley will serve as a director until the next annual stockholders’ meeting and until his successor is duly elected and qualifies, or until his resignation, removal or inability to serve.
	On March 27, 2015, the Board appointed Robert A. Gary, IV to the Company’s Board, effective as of April 1, 2015, filling the remaining vacancy caused by the resignation of previous board members.
	Robert A. Gary, IV, age 61, is a Founding Partner of Keiter, PC, Certified Public Accountants and Consultants which he co-founded in 1978. Mr. Gary has more than 37 years of experience in public accounting, providing accounting, tax, and consulting services to business organizations and individuals.  His accounting practice focuses on general business consulting, real estate construction, development and management, employee benefits, executive compensation, estate planning and administration. Mr. Gary provides insights and opportunities to clients in a variety of industries, including real estate, estates, trusts and foundations, private venture capital investors, manufacturing, distribution, and professional services.  He previously served as an independent director of Landmark Apartment Trust, Inc. (formerly Grubb & Ellis Apartment REIT Inc.) from December 2005 until May 2014, and of Cornerstone Realty Income Trust from 2003 until its 2005 merger with Colonial Property.  While serving on the boards of both Landmark and Cornerstone, Mr. Gary also served as the chairperson and financial expert for each company’s audit committee.  He received a B.S. in Accounting from Wake Forest University and an M.B.A. from the University of Virginia’s Darden School. Mr. Gary is a Certified Public Accountant, a Certified Information Technology Professional, a Chartered Global Management Accountant, and a member of the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants.
	The appointment of Mr. Gary as a director was not made pursuant to any arrangement or understanding between Mr. Gary and any other person. Mr. Gary has not had any direct or indirect material interest in any transaction with the Company or to which the Company is a party or in any currently proposed transaction with the Company or to which the Company is a party. Mr. Gary will serve as a director until the next annual stockholders’ meeting and until his successor is duly elected and qualifies, or until his earlier resignation, removal or inability to serve.
	Officer Appointment
	Effective as of March 25, 2015, the Board appointed Christine T. Brown principal accounting officer of the Company, replacing Simon J. Misselbrook as principal accounting officer of the Company. Mr. Misselbrook remains the chief financial officer, treasurer and principal financial officer of the Company.

Schedule_III_Real_Estate_Asset

Schedule III - Real Estate Assets and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate Assets and Accumulated Depreciation
							Initial Costs to Company							Gross Amount at
												Total		Which Carried		Accumulated
										Buildings &		Adjustment		At December 31, 2014		Depreciation		Date	Date
		Description (a)		Encumbrances			Land			Improvements		to Basis		(b) (c)		(d) (e)		Acquired	Constructed
	Real Estate Held for Investment the Company Has Invested in Under Operating Leases:
	Aaron Rents:
		Arkadelphia, AR					$	125		$	748	$	—	$	873	$	1	12/12/14	2014
	Academy Sports:
		Cartersville, GA		(f)			1,384			7,427		—		8,811		108		11/5/14	2014
	Advance Auto:
		Fairmont, NC		(f)			56			949		—		1,005		19		3/18/14	2014
	Bass Pro Shop:
		Portage, IN		(f)			1,400			4,044		—		5,444		23		10/22/14	2004
	Blankenbraker Plaza:
		Louisville, KY		(f)			3,557			11,430		—		14,987		64		10/23/14	1999
	Brynwood Sqaure:
		Rockford, IL		(f)			1,194			10,515		—		11,709		78		10/23/14	1983
	Burger King:
		Yukon, OK		(f)			519			587		—		1,106		4		9/30/14	2000
	Burlington Coat Factory:
		Bangor, ME		(f)			1,124			3,890		—		5,014		5		12/22/14	2001
	CVS:
		Riverton, NJ		(f)			699			4,657		—		5,356		66		6/30/14	2007
	Dollar General:
		Braham, MN		(f)			66			906		—		972		5		10/24/14	2014
		Clarion, IA		(f)			128			860		—		988		5		10/24/14	2014
		Collinsville, AL		(f)			139			870		—		1,009		3		11/20/14	2014
		Elmwood, IL		(f)			154			808		—		962		6		9/3/14	2014
		Huntington, WV		(f)			278			989		—		1,267		7		9/29/14	2014
		Junction City, OH		(f)			68			823		—		891		6		9/25/14	2014
		Logansport, IN		(f)			69			942		—		1,011		20		3/31/14	2014
		Moundridge, KS		(f)			190			668		—		858		15		3/18/14	2014
		Oneonta, AL		(f)			93			917		—		1,010		3		11/20/14	2014
		Pipestone, MN		(f)			130			891		—		1,021		7		9/19/14	2014
		Selma, AL		(f)			146			903		—		1,049		3		11/4/14	2014
		Shorter, AL		(f)			91			935		—		1,026		3		11/20/14	2014
		Virden, IL		(f)			65			1,111		—		1,176		4		11/14/14	2014
		Wakarusa, IN		(f)			161			1,038		—		1,199		8		9/3/14	2014
		Willard, MO		(f)			258			904		—		1,162		3		11/14/14	2014
		Wolcottville, IN		(f)			151			910		—		1,061		7		9/3/14	2014
	Family Dollar:
		Hobbs, NM		(f)			350			782		—		1,132		1		12/19/14	2014
		Morgan, UT		(f)			235			858		—		1,093		9		8/18/14	2013
		Roswell, NM		(f)			379			739		—		1,118		6		9/12/14	2014
		Salina, UT		(f)			224			913		—		1,137		10		8/18/14	2014
		San Antonio, TX					345			905		—		1,250		1		12/12/14	2014
		Talladega, AL					186			968		—		1,154		1		12/12/14	2014
		Tennessee Colony, TX		(f)			89			829		—		918		3		11/21/14	2014
							Initial Costs to Company							Gross Amount at
												Total		Which Carried		Accumulated
										Buildings &		Adjustment		At December 31, 2014		Depreciation		Date	Date
		Description (a)		Encumbrances			Land			Improvements		to Basis		(b) (c)		(d) (e)		Acquired	Constructed
	Fresh Thyme Farmers Market:
		Lafayette, IN		(f)			$	410		$	6,208	$	—	$	6,618	$	37	10/17/14	2014
	Houma Crossing:
		Houma, LA		(f)			5,359			17,574		35		22,968		152		9/25/14	2008
	Kroger:
		Bay City, MI		(f)			1,045			5,224		—		6,269		43		9/24/14	2013
	Lawton Marketplace:
		Lawton, OK		(f)			3,169			29,070		—		32,239		108		11/5/14	2012
	Mattress Firm:
		Draper, UT		(f)			651			1,510		—		2,161		2		12/19/14	2014
		Lake City, FL		(f)			656			1,075		—		1,731		1		12/9/14	2014
	Raleigh, NC		(f)			431			1,121		—		1,552		9		9/12/14	2014
O’Reilly Auto Parts:
	Iron Mountain, MI		(f)			121			1,211		—		1,332		4		11/21/14	2014
Raising Canes:
	Murphy, TX		(f)			648			1,960		—		2,608		15		9/30/14	2014
	Reno, NV		(f)			1,119			2,174		—		3,293		2		12/18/14	2013
Shoppes of Gary Farms:
	Bowling Green, KY		(f)			2,039			13,730		—		15,769		47		11/24/14	2013
Shops at Abilene:
	Abilene, TX		(f)			3,414			21,270		—		24,684		27		12/11/14	2004
Stop & Shop:
	Kingstown, RI		(f)			668			998		—		1,666		9		8/6/14	1979
Tractor Supply:
	Midland, NC		(f)			213			2,317		—		2,530		34		6/30/14	2014
United Oil:
	Carson, CA		(f)			3,774			1,892		—		5,666		14		9/30/14	2011
	Fallbrook, CA		(f)			3,037			725		—		3,762		5		9/30/14	2012
	Harbor City, CA		(f)			2,391			1,096		—		3,487		8		9/30/14	2002
	Hawthorne, CA		(f)			1,744			363		—		2,107		3		9/30/14	2002
	Lakewood, CA		(f)			2,457			1,423		—		3,880		10		9/30/14	1997
	Long Beach, CA		(f)			2,129			777		—		2,906		6		9/30/14	2003
	Los Angeles, CA		(f)			2,761			1,235		—		3,996		9		9/30/14	1999
	Los Angeles, CA		(f)			3,499			860		—		4,359		6		9/30/14	2001
	San Clemente, CA		(f)			3,447			985		—		4,432		7		9/30/14	2003
	San Diego, CA		(f)			2,002			284		—		2,286		2		9/30/14	2009
	San Diego, CA		(f)			3,633			783		—		4,416		6		9/30/14	2009
	San Diego, CA		(f)			1,767			705		—		2,472		5		9/30/14	2014
	Santa Ana, CA		(f)			2,090			598		—		2,688		4		9/30/14	2008
Walgreens:
	Baton Rouge, LA		4,494			822			4,257		—		5,079		29		9/30/14	2006
	Clinton Township, MI		4,275			2,399			2,977		—		5,376		10		9/26/14	2006
	Delavan, WI		3,729			245			4,022		—		4,267		29		9/26/14	2006
	Edmond, OK		(f)			889			3,206		—		4,095		30		8/8/14	2007
	Greenville, OH		(f)			953			3,164		—		4,117		3		12/15/14	2006
						Initial Costs to Company							Gross Amount at
											Total		Which Carried		Accumulated
									Buildings &		Adjustment		At December 31, 2014		Depreciation		Date	Date
	Description (a)		Encumbrances			Land			Improvements		to Basis		(b) (c)		(d) (e)		Acquired	Constructed
	Harrison, AR		$	4,825		$	353		$	5,184	$	—	$	5,537	$	17	11/26/14	2005
	Houma, LA		4,022			1,343			3,100		—		4,443		23		9/26/14	2007
	Indianapolis, IN		4,675			1,238			4,734		—		5,972		15		11/26/14	1999
	Kokomo, IN		3,173			204			3,408		—		3,612		25		9/26/14	2006
	Kilgore, TX		(f)			588			5,074		—		5,662		70		9/26/14	2007
	Lees Summit, MO		4,250			1,008			4,270		—		5,278		12		11/26/14	1997
	Lubbock, TX		4,125			845			3,598		—		4,443		26		9/26/14	2006
	Richmond, IN		4,406			138			4,923		—		5,061		36		9/26/14	2006
	Salisbury, NC		3,776			920			3,246		—		4,166		24		9/26/14	2006
	San Antonio, TX		7,536			2,051			6,379		—		8,430		41		9/26/14	2005
	Siloam Springs, AR		3,900			933			4,146		—		5,079		13		11/26/14	2007
	Slidell, LA		3,075			1,557			2,714		—		4,271		9		11/26/14	1996
	Sulphur, LA		3,554			1,019			2,876		—		3,895		21		9/26/14	2006
	Whiteville, NC		3,935			888			3,454		—		4,342		25		9/26/14	2007
Winn-Dixie:
	Amite, LA		(f)			286			2,296		—		2,582		26		9/30/14	1994
			$	67,750		$	87,406		$	258,912	$	35	$	346,353	$	1,563
As of December 31, 2014, the Company owned 73 single-tenant, freestanding retail properties and 6 multi-tenant retail properties.
(b) The aggregate cost for federal income tax purposes was $383.1 million.
(c) The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands):
			2014			2013
Balance, beginning of period				$	—		$	—
	Additions
		Acquisitions		346,318			—
		Improvements		35			—
	Total additions			$	346,353		$	—
	Deductions
		Cost of real estate sold		—			—
		Adjustment to basis		—			—
		Other (including provisions for impairment of real estate assets)		—			—
	Total deductions			—			—
Balance, end of period				$	346,353		$	—
(d) The following is a reconciliation of accumulated depreciation for the years ended December 31 (in thousands):
			2014			2013
Balance, beginning of period				$	—		$	—
	Additions
		Acquisitions - Depreciation Expense for Building, Acquisitions Costs & Tenant Improvements Acquired		1,563			—
		Improvements - Depreciation Expense for Tenant Improvements and Building Equipment		—			—
	Total additions			$	1,563		$	—
	Deductions
		Cost of real estate sold		—			—
		Other (including provisions for impairment of real estate assets)		—			—
	Total deductions			—			—
Balance, end of period				$	1,563		$	—
(e) The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, tenant improvements are amortized over the respective lease term and buildings are depreciated over 40 years.
(f) Property is included in the Credit Facility’s borrowing base. As of December 31, 2014, the Company had $158.5 million outstanding under the Credit Facility.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Basis of accounting	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. Consolidated results of operations for the year ended December 31, 2013 and for the period from December 12, 2012 (Date of Inception) to December 31, 2012 have not been presented because the Company had not begun its principal operations and had no revenue or expenses during those periods.
Use of estimates	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Investment in and valuation of real estate assets	Investment in and Valuation of Real Estate Assets
	Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, excluding acquisition-related expenses, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets and leasing costs. All repairs and maintenance are expensed as incurred.
	The Company is required to make subjective assessments as to the useful lives of its depreciable assets. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life of the assets. Real estate assets, other than land, are depreciated or amortized on a straight-line basis. The estimated useful lives of the Company’s real estate assets by class are generally as follows:
	Buildings	40 years
	Tenant improvements	Lesser of useful life or lease term
	Intangible lease assets	Lease term
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value will be determined using a discounted cash flow analysis and recent comparable sales transactions. No impairment indicators were identified and no impairment losses were recorded during the year ended December 31, 2014.
	When developing estimates of expected future cash flows, the Company makes certain assumptions regarding future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, terminal capitalization and discount rates, the expected number of months it takes to re-lease the property, required tenant improvements and the number of years the property will be held for investment. The use of alternative assumptions in estimating expected future cash flows could result in a different determination of the property’s expected future cash flows and a different conclusion regarding the existence of an impairment, the extent of such loss, if any, as well as the fair value of the real estate assets.
	When a real estate asset is identified by the Company as held for sale, the Company will cease depreciation and amortization of the assets related to the property and estimate the fair value, net of selling costs. If, in management’s opinion, the fair value, net of selling costs, of the asset is less than the carrying amount of the asset, an adjustment to the carrying amount would be recorded to reflect the estimated fair value of the property, net of selling costs.
Allocation of purchase price of real estate assets	Allocation of Purchase Price of Real Estate Assets
	Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and identified intangible assets and liabilities, consisting of the value of above market and below market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition-related expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The Company obtains an independent appraisal for each real property acquisition. The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information.
	The fair values of above market and below market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including any bargain renewal periods, with respect to a below market lease. The above market and below market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above market or below market 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 commissions and other direct costs and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed.
	The Company may acquire certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrow funds to the Company or the seller or a combination thereof. Contingent consideration arrangements will be based on a predetermined formula and have set time periods regarding the obligation to make future payments, including funds released to the seller from escrow accounts, or the right to receive escrowed funds as set forth in the respective purchase and sale agreement. Contingent consideration arrangements, including amounts funded through an escrow account, will be recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value, subsequent to acquisition, will be reflected in the accompanying condensed consolidated statements of operations. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management.
	The Company estimates the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable are initially recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance is amortized or accreted to interest expense over the term of the respective mortgage note payable.
	The determination of the fair values of the real estate assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, capitalization and discount rates, interest rates and other variables. The use of alternative estimates may result in a different allocation of the Company’s purchase price, which could impact the Company’s results of operations.
Cash and cash equivalents	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with maturities when purchased of three months or less to be cash equivalents. The Company considers investments in highly liquid money market accounts to be cash equivalents.
Rents and tenant receivables	Rents and Tenant Receivables
	Rents and tenant receivables primarily include amounts to be collected in future periods related to the recognition of rental income on a straight-line basis over the lease term and cost recoveries due from tenants. The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy, if any, are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company’s reported net income or loss is directly affected by management’s estimate of the collectability of accounts receivable. The Company records allowances for those balances that the Company deems to be uncollectible, including any amounts relating to straight-line rent receivables. As of December 31, 2014, no balances were deemed uncollectible and no allowance was recorded.
Deferred financing costs	Deferred Financing Costs
	Deferred financing costs are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method. If a note payable is prepaid, any unamortized deferred financing costs related to the note payable would be expensed. Amortization of deferred financing costs was $258,000 for the year ended December 31, 2014 and was included in interest expense in the consolidated statement of operations.
Prepaid expenses	Prepaid Expenses
	Prepaid expenses will include expenses paid as of the balance sheet date that relate to future periods and will be expensed or reclassified to another account during the period to which the costs relate. Any amounts with no future economic benefit will be charged to earnings when identified.
Concentration of credit risk	Concentration of Credit Risk
	As of December 31, 2014, we had cash on deposit, including restricted cash, at one financial institution, in which we had deposits in excess of federally insured levels totaling $6.7 million; however, we have not experienced any losses in such accounts. We limit significant cash deposits to accounts held by financial institutions with high credit standing; therefore, we believe we are not exposed to any significant credit risk on its cash deposits.
	As of December 31, 2014, two tenants accounted for greater than 10% of our 2014 gross annualized rental revenue: Walgreens (24%) and United Oil (13%). We had certain geographic concentrations in its property holdings. In particular, as of December 31, 2014, seven of our properties were located in Texas, 13 were located in California, six were located in Louisiana, and three were located in Oklahoma, which accounted for 14%, 13%, 12%, and 11%, respectively, of our 2014 gross annualized rental revenues. In addition, we had tenants in the drugstore, convenience store, and discount store industries, which comprised 25%, 13%, and 12%, respectively, of our 2014 gross annualized rental revenues.
Offering and related costs	Offering and Related Costs
	CR V Advisors funds all of the organization and offering costs on the Company’s behalf (excluding selling commissions and dealer manager fees) and may be reimbursed for such costs up to 2.0% of aggregate gross proceeds from the Offering. As of December 31, 2014, CR V Advisors had paid organization and offering costs in excess of the 2.0% in connection with the Offering. These excess costs were not included in the financial statements of the Company because such costs were not a liability of the Company as they exceeded 2.0% of aggregate gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess costs may become payable. When recorded by the Company, organization costs are expensed as incurred, and offering costs, which include items such as legal and accounting fees, marketing, personnel, promotional and printing costs, are recorded as a reduction of capital in excess of par value along with selling commissions and dealer manager fees in the period in which they become payable.
Due to affiliates	Due to Affiliates
	Certain affiliates of CR V Advisors received, and will continue to receive fees, reimbursements and compensation in connection with services provided relating to the Offering and the acquisition, management, financing and leasing of the properties of the Company.
Redeemable common stock	Redeemable Common Stock
	Under the Company’s share redemption program, the Company’s requirement to redeem shares of its outstanding common stock is limited, among other things, to the net proceeds received by the Company from the sale of shares under the DRIP, net of shares redeemed to date. The Company records amounts that are redeemable under the share redemption program as redeemable common stock outside of permanent equity in its consolidated balance sheets. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value.
Interest	Interest
	Interest is charged to interest expense as it accrues. No interest costs were capitalized during the years ended December 31, 2014 and 2013.
Distributions payable and distribution policy	Distributions Payable and Distribution Policy
	In order to qualify and maintain its status as a REIT, the Company is required to, among other things, make distributions each taxable year equal to at least 90% of its taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). To the extent that funds are available, the Company intends to pay regular distributions to stockholders. Distributions are paid to stockholders of record as of applicable record dates. The Company intends to qualify and elect to be taxed as a REIT for federal income tax purposes commencing with its taxable year ending December 31, 2014; however, the Company has not yet elected, and has not yet qualified, to be taxed as a REIT, as it did not commence principal operations until March 18, 2014.
	The Company’s board of directors authorized a daily distribution, based on 365 days in the calendar year, of $0.0043150685 per share (which equates to 6.30% on an annualized basis calculated at the current rate, assuming a $25.00 per share purchase price) for stockholders of record as of the close of business on each day of the period commencing on March 19, 2014 and ending on June 30, 2015. As of December 31, 2014, the Company had distributions payable of $929,000.
Stockholders' Equity	Stockholders’ Equity
	As of December 31, 2014 and 2013, the Company was authorized to issue 490.0 million shares of common stock and 10.0 million shares of preferred stock. All shares of such stock have a par value of $0.01 per share. On February 15, 2013, the Company sold 100 shares of common stock, at $10.00 per share, to a predecessor of CREI, and on June 19, 2013, the Company sold 19,900 shares of common stock, at $10.00 per share, to CREI, each of which was formerly the indirect owner of CR V Advisors and CCC. Subsequent to December 31, 2013, the ownership of such shares was transferred to ARCP OP. In addition, the shares issued and outstanding, as well as the dollar amount of common stock and capital in excess of par value, as of December 31, 2013 have been retroactively adjusted to reflect the Reverse Stock Split. Pursuant to the Company’s charter, ARCP OP is prohibited from selling the 8,000 shares of the common stock that represents the initial investment in the Company for so long as Cole Capital remains the Company’s sponsor; provided, however, that ARCP OP may transfer ownership of all or a portion of these 8,000 shares of the Company’s common stock to other affiliates of the Company’s sponsor. The Company’s board of directors may amend the Company’s charter from time to time to increase or decrease the aggregate number of shares of stock or the number of shares of stock of any class or series that the Company has authority to issue without obtaining stockholder approval. The par value of investor proceeds raised from the Offering is classified as common stock, with the remainder allocated to capital in excess of par value.
Reportable segments	Reportable Segment
	The Company invests in income-producing necessity retail properties that are single-tenant or multi-tenant “power centers,” which are leased to national and regional creditworthy tenants under long-term net leases, and are strategically located throughout the United States and U.S. protectorates. The commercial properties are geographically diversified and have similar economic characteristics. The Company evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
Revenue recognition	Revenue Recognition
	Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred.
Earnings (loss) Per Share	Earnings (Loss) Per Share
	Earnings (loss) per share are calculated based on the weighted average number of common shares outstanding during each period presented. Diluted income (loss) per share considers the effect of any potentially dilutive share equivalents, of which the Company had none for the year ended December 31, 2014.
Income taxes	Income Taxes
	The Company intends to elect to be taxed as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ending December 31, 2014, as it did not commence principal operations until March 18, 2014. If the Company qualifies for taxation as a REIT, 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 qualifies for taxation as a REIT, it or its subsidiaries may be subject to certain state and local taxes on its income and property and federal income and excise taxes on its undistributed income.
Recent accounting pronouncements	Recent Accounting Pronouncements
	In April 2014, the U.S. Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), which amends the reporting requirements for discontinued operations by updating the definition of a discontinued operation to be a component of an entity that represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results, resulting in fewer disposals that qualify for discontinued operations reporting; yet, the pronouncement also requires expanded disclosures for discontinued operations. The adoption of ASU 2014-08 did not have a material impact on the Company’s consolidated financial statements because the Company did not have any discontinued operations.
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes the revenue recognition requirements in Revenue Recognition (Topic 605), and requires an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers, including real estate sales, in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company does not believe ASU 2014-09, when effective, will have a material impact on the Company’s consolidated financial statements.
	In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which requires management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. ASU 2014-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early application permitted. The Company does not believe ASU 2014-15, when effective, will have a material impact on the Company’s consolidated financial statements because the Company currently does not have any conditions that give rise to substantial doubt about its ability to continue as a going concern.
	In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”), which eliminates the deferral of FAS 167 and makes changes to both the variable interest model and the voting model. These changes will require re-evaluation of certain entities for consolidation and will require the Company to revise its documentation regarding the consolidation or deconsolidation of such entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The Company does not believe ASU 2015-02, when effective, will have a material impact on the Company’s financial statements.

Summary_of_Significant_Account2

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

Real_Estate_Acquisitions_Table

Real Estate Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Schedule of purchase price allocation	The following table summarizes the purchase price allocation (in thousands):
		December 31, 2014
	Land	$	87,406
	Building and improvements	258,912
	Acquired in-place leases	36,433
	Acquired above market leases	5,929
	Acquired below market leases	(3,870		)
	Fair value adjustment of assumed notes payable	(994		)
	Total purchase price	$	383,816
Business acquisition, pro forma information	The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the year ended December 31, 2014 (in thousands):
		Period from March 18, 2014 to
		December 31, 2014
	Pro forma basis (unaudited):
	Revenue	$	34,477
	Net income (loss)	$	9,141

Intangible_Lease_Assets_Tables

Intangible Lease Assets (Tables)	12 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets	Intangible lease assets consisted of the following (in thousands, except weighted average life amounts):
				As of December 31,
				2014
	In-place leases, net of accumulated amortization of $735
		(with a weighted average life remaining of 12.9 years)		$	35,698
	Acquired above market leases, net of accumulated amortization of $88
		(with a weighted average life remaining of 13.6 years)		5,841
				$	41,539
Schedule of finite-lived intangible assets, future amortization expense	Estimated amortization expense related to the intangible lease assets as of December 31, 2014 for each of the five succeeding fiscal years is as follows (in thousands):
			Amortization
	Year Ending December 31,		In-Place Leases			Above Market Leases
	2015		$	3,610		$	556
	2016		$	3,388		$	552
	2017		$	3,244		$	529
	2018		$	3,109		$	500
	2019		$	2,972		$	470

Credit_Facility_and_Line_of_Cr1

Credit Facility and Line of Credit With Affiliate Credit Facility and LIne of Credit With Affiliate (Tables)	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Schedule of debt	The following table summarizes the debt balances as of December 31, 2014 and 2013, and the debt activity for the year ended December 31, 2014 (in thousands):
		Balance as of		During The Year Ended December 31, 2014							Balance as of
		31-Dec-13		Debt Issuance		Repayments			Other(1)		31-Dec-14
	Credit facility	$	—	$	161,153	$	(2,653	)	—		$	158,500
	Fixed rate debt	—		67,750		—			895		68,645
	Line of credit with affiliate	—		30,700		(10,700		)	—		20,000
	Total	$	—	$	259,603	$	(13,353	)	$	895	$	247,145
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, 2014 for each of the five succeeding fiscal years and the period thereafter (in thousands):
	Year Ending December 31,	Principal Repayments
	2015	$	—
	2016	20,000
	2017	201,250
	2018	—
	2019	—
	Thereafter	25,000
	Total	$	246,250

Acquired_Below_Market_Lease_In1

Acquired Below Market Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2014
Intangible Liabilities Disclosure [Abstract]
Schedule of finite-lived intangible liabilities	Acquired below market lease intangibles consisted of the following (in thousands, except weighted average life amounts):
				As of December 31,
				2014
	Acquired below market leases, net of accumulated amortization of $47
		(with a weighted average life remaining of 8.6 years)		$	3,823
Schedule of finite-lived intangible assets, future amortization expense	Estimated amortization of the intangible lease liabilities as of December 31, 2014 for each of the five succeeding fiscal years is as follows (in thousands):
	Year Ending December 31,		Amortization of Below Market Leases
	2015		$	480
	2016		$	443
	2017		$	434
	2018		$	428
	2019		$	389

Supplemental_Cash_Flow_Disclos1

Supplemental Cash Flow Disclosures (Tables)	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
Schedule of cash flow, supplemental disclosures	Supplemental cash flow disclosures for the year ended December 31, 2014 are as follows (in thousands):
		Year Ended
		December 31, 2014
	Supplemental Disclosures of Non-Cash Investing and Financing Activities:
	Fair value of mortgage notes assumed in real estate acquisitions at date of assumption	$	43,744
	Common stock issued through distribution reinvestment plan	$	1,471
	Escrow deposits due to affiliate on acquired real estate assets	$	1,271
	Distributions declared and unpaid	$	929
	Accrued dealer manager fee and other offering costs	$	76
	Supplemental Cash Flow Disclosures:
	Interest paid	$	1,265

RelatedParty_Transactions_and_1

Related-Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Schedule of related party transactions	The Company recorded commissions, fees and expense reimbursements as shown in the table below for services provided by CR V Advisors or its affiliates related to the services described above during the period indicated (in thousands):
		Year Ended
		December 31, 2014
	Offering:
	Selling commissions	$	11,532
	Selling commissions reallowed by CCC	$	11,532
	Dealer manager fees	$	3,402
	Dealer manager fees reallowed by CCC	$	1,793
	Other organization and offering expenses	$	3,475
	The Company recorded fees and expense reimbursements as shown in the table below for services provided by CR V Advisors or its affiliates related to the services described above during the period indicated (in thousands):
		Year Ended
		December 31, 2014
	Acquisition and Operations:
	Acquisition fees and expenses	$	9,631
	Advisory fees and expenses	$	751
	Operating expenses	$	344

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Schedule of dividends and distributions	The following table shows the character of the distributions the Company paid on a percentage basis for the year ended December 31, 2014:
		Year Ended
	Character of Distributions (Unaudited):	December 31, 2014
	Ordinary dividends	32	%
	Nontaxable distributions	68	%
	Total	100	%

Operating_Leases_Operating_Lea

Operating Leases Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Schedule of future minimum rental payments for operating leases	The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2014, was as follows (in thousands):
	Year Ending December 31,	Future Minimum Rental Income
	2015	$	27,708
	2016	27,389
	2017	26,818
	2018	26,157
	2019	25,335
	Thereafter	219,581
	Total	$	352,988

Quarterly_Results_Unaudited_Ta

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	Presented below is a summary of the unaudited quarterly financial information for the year ended December 31, 2014 (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, 2014
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	6		$	85		$	739		$	5,250
	Acquisition-related expenses	$	159		$	829		$	5,047		$	5,920
	Operating loss	$	(183	)	$	(953	)	$	(5,224	)	$	(4,129	)
	Net loss	$	(183	)	$	(986	)	$	(5,308	)	$	(5,640	)
	Basic and diluted net loss per common share (1)	$	(0.08	)	$	(0.43	)	$	(2.31	)	$	(2.45	)
	Distributions declared per common share	$	0.25		$	0.39		$	0.4		$	0.4
	(1) Based on the weighted average number of shares outstanding as of December 31, 2014.

Organization_and_Business_Deta

Organization and Business (Details) (USD $)	12 Months Ended		0 Months Ended	9 Months Ended	0 Months Ended			12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 18, 2014	Dec. 31, 2014	Feb. 07, 2014	Jun. 19, 2013	Dec. 04, 2014	Mar. 25, 2015	Mar. 17, 2014
	states
	Property
	sqft
Organization and business [Line Items]
Common stock, shares authorized (in shares)	490,000,000	490,000,000		490,000,000
Share price (in dollars per share)	$25			$25
Issuance of common stock	$173,743,000	$200,000
Number of owned properties (in number of properties)	79			79
Rentable square feet (in square feet)	1,900,000			1,900,000
Number of states in which entity owns properties (in number of states)	26			26
Percentage of rentable space leased	99.00%			99.00%
Initial public offering
Organization and business [Line Items]
Common stock, shares issued									2,975,000,000
Share price (in dollars per share)									$25
Issuance of common stock, shares (in shares)			110,000	7,000,000
Issuance of common stock			2,500,000	173,700,000
Offering costs, selling commissions, and dealer management fees				18,400,000
Distribution reinvestment plan | Initial public offering
Organization and business [Line Items]
Common stock, shares authorized (in shares)									20,000,000
Share price (in dollars per share)									$23.75
Maximum | Initial public offering
Organization and business [Line Items]
Common stock, shares authorized (in shares)									100,000,000
CCPT IV OP
Organization and business [Line Items]
General partner partnership interest percentage	100.00%
Common Stock
Organization and business [Line Items]
Stock split, conversion ratio					2.5
Share price (in dollars per share)						$10
Issuance of common stock, shares (in shares)						20,000
RCAP Purchase Agreement | ARCP
Organization and business [Line Items]
Litigation settlement amount							60,000,000
Subsequent event | Initial public offering
Organization and business [Line Items]
Issuance of common stock, shares (in shares)								7,300,000
Issuance of common stock								$182,100,000

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Narrative (Details) (USD $)	12 Months Ended		0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Jun. 19, 2013	Feb. 15, 2013
	segment
Valuation of real estate and related assets [Line Items]
Amortization of deferred financing costs	$258	$0
Due from affiliates	110	0
Dividend, common stock and preferred stock, number of days in the calendar year for the daily distribution	365 days
Common stock and preferred stock, dividends, daily amount per share authorized (in dollars per share)	$0.00
Dividends, yield	6.30%
Share price (in dollars per share)	$25
Distributions payable	929	0
Common stock, shares authorized	490,000,000	490,000,000
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Common stock, par value (in dollars per share)	$0.01	$0.01
Number of reportable segments	1
Advisors
Valuation of real estate and related assets [Line Items]
Due from affiliates	$110	$0
Advisors | Other organization and offering expenses | Maximum
Valuation of real estate and related assets [Line Items]
Organization and offering expense	2.00%
Common Stock
Valuation of real estate and related assets [Line Items]
Issuance of common stock, shares	6,977,877	8,000
Common Stock | CREInvestments, LLC
Valuation of real estate and related assets [Line Items]
Share price (in dollars per share)			$10	$10
Issuance of common stock, shares			19,900	100
Common Stock | American Realty Capital Properties OP
Valuation of real estate and related assets [Line Items]
Issuance of common stock, shares		8,000
Building
Valuation of real estate and related assets [Line Items]
Acquired real estate asset, useful life	40 years

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Concentration of credit risk (Details) (USD $)	12 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014
	Property
	financial_institutions
Concentration Risk [Line Items]
Cash on deposit, number of financial institutions	1
Concentration risk, credit risk, financial instrument, maximum exposure	$6.70
Number of owned properties (in number of properties)	79
Gross annualized rental revenue | Customer concentration risk
Concentration Risk [Line Items]
Number of tenants	2
Gross annualized rental revenue | Customer concentration risk | Drugstore industry
Concentration Risk [Line Items]
Concentration risk, percentage	25.00%
Gross annualized rental revenue | Customer concentration risk | Convenience Store Industry
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%
Gross annualized rental revenue | Customer concentration risk | Discount store industry
Concentration Risk [Line Items]
Concentration risk, percentage	12.00%
TEXAS | Gross annualized rental revenue | Credit concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	14.00%
TEXAS | Gross annualized rental revenue | Geographic Concentration Risk
Concentration Risk [Line Items]
Number of owned properties (in number of properties)	7
CALIFORNIA | Gross annualized rental revenue | Credit concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%
CALIFORNIA | Gross annualized rental revenue | Geographic Concentration Risk
Concentration Risk [Line Items]
Number of owned properties (in number of properties)	13
LOUISIANA | Gross annualized rental revenue | Credit concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	12.00%
LOUISIANA | Gross annualized rental revenue | Geographic Concentration Risk
Concentration Risk [Line Items]
Number of owned properties (in number of properties)	6
OKLAHOMA | Gross annualized rental revenue | Credit concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%
OKLAHOMA | Gross annualized rental revenue | Geographic Concentration Risk
Concentration Risk [Line Items]
Number of owned properties (in number of properties)	3
Walgreens | Tenant One | Gross annualized rental revenue | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	24.00%
United Oil | Tenant Two | Gross annualized rental revenue | Customer concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage		13.00%

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets and liabilities, transfers amount	$0
Estimate of fair value | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of credit, fair value disclosure	249,700,000	0
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of credit, fair value disclosure	$247,100,000

Real_Estate_Acquisitions_Detai

Real Estate Acquisitions (Details) (USD $)	3 Months Ended				12 Months Ended	9 Months Ended		1 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2014	Sep. 30, 2014	Nov. 30, 2014
							Property
Pro forma basis (unaudited)
Acquisition-related expenses	$5,920,000	$5,047,000	$829,000	$159,000	$11,955,000
2014 Acquisitions
Business Acquisition [Line Items]
Number of businesses acquired (in properties)					79
Aggregate purchase price					383,800,000
Business Acquisition, Purchase Price Allocation [Abstract]
Land	87,406,000				87,406,000	87,406,000
Building and improvements	258,912,000				258,912,000	258,912,000
Fair value adjustment of assumed notes payable	-994,000				-994,000	-994,000
Total purchase price	383,816,000				383,816,000	383,816,000
Pro forma basis (unaudited)
Revenue of acquiree since acquisition date					6,100,000
Loss of acquiree since acquisition date					-12,100,000
Revenue						34,477,000
Net income (loss)						9,141,000
Acquisition-related expenses					12,000,000
2014 Acquisitions | Acquired in-place leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases	36,433,000				36,433,000	36,433,000
2014 Acquisitions | Acquired above market leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases	5,929,000				5,929,000	5,929,000
2014 Acquisitions | Acquired below market leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired below market leases	-3,870,000				-3,870,000	-3,870,000
Arpo, LLC Portfolio
Business Acquisition [Line Items]
Number of businesses acquired (in properties)							13
Pro forma basis (unaudited)
Number of properties acquired							14
Arpo, LLC Portfolio, One Property
Pro forma basis (unaudited)
Payment to acquire final property in portfolio								5,900,000
Escrow deposit		$5,900,000					5,900,000

Intangible_Lease_Assets_Detail

Intangible Lease Assets (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets, Net [Abstract]
Acquired intangible lease assets	$41,539
Accumulated amortization of intangible lease assets	823	0
In-place leases
Finite-Lived Intangible Assets, Net [Abstract]
Acquired intangible lease assets	35,698
Accumulated amortization of intangible lease assets	735
Finite-lived intangible asset, useful life	12 years 11 months 0 days
Amortization of intangible assets	735
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2015	3,610
2016	3,388
2017	3,244
2018	3,109
2019	2,972
Above market leases
Finite-Lived Intangible Assets, Net [Abstract]
Acquired intangible lease assets	5,841
Accumulated amortization of intangible lease assets	88
Finite-lived intangible asset, useful life	13 years 7 months 0 days
Amortization of intangible assets	88
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2015	556
2016	552
2017	529
2018	500
2019	$470

Credit_Facility_and_Line_of_Cr2

Credit Facility and Line of Credit With Affiliate Credit Facility and LIne of Credit With Affiliate (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Line of Credit Facility [Line Items]
Debt, Weighted Average Interest Rate	3.10%
Credit facility and notes payable	$247,145,000	$0
Debt instrument, weighted average years to maturity	3 years
Line of credit | JPMorgan Chase, Revolving credit facility
Line of Credit Facility [Line Items]
Credit facility and notes payable	158,500,000	0
Line of credit | Revolving credit facility | Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	300,000,000
Line of Credit Facility, Current Borrowing Capacity, Percentage of Collateral Pool Unencumbered Assets	70.00%
Line of Credit Facility, Qualified Properties Obtained to Convert Into Unsecured Credit Facility			500,000,000
Line of credit | Revolving credit facility | Secured Revolving Credit Facility, Base Rate
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate at Period End	2.37%
Line of credit | Revolving credit facility | JPMorgan Chase, Revolving credit facility
Line of Credit Facility [Line Items]
Credit facility and notes payable	158,500,000
Line of Credit Facility, Maximum Borrowing Capacity	750,000,000
Line of Credit Facility, Current Borrowing Capacity	47,800,000
Debt Instrument, Collateral Pledged	$206,300,000
Leverage Ratio Less than or Equal to Fifty Percent | Line of credit | Revolving credit facility | Secured Revolving Credit Facility, Base Rate
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.90%
Leverage Ratio	50.00%
Leverage Ratio Less than or Equal to Fifty Percent | Line of credit | Revolving credit facility | Secured Revolving Credit Facility, Eurodollar Rate
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.90%
Leverage Ratio	50.00%
Leverage Ratio Greater than Sixty-Five Percent | Line of credit | Revolving credit facility | Secured Revolving Credit Facility, Base Rate
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.75%
Leverage Ratio	65.00%
Leverage Ratio Greater than Sixty-Five Percent | Line of credit | Revolving credit facility | Secured Revolving Credit Facility, Eurodollar Rate
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.75%
Leverage Ratio	65.00%
Federal Funds Effective Rate | Line of credit | Revolving credit facility | Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Statutory Reserve Rate | Line of credit | Revolving credit facility | Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%

Recovered_Sheet1

Credit Facility and LIne of Credit With Affiliate - Additional Information (Details) (USD $)	0 Months Ended	12 Months Ended
	Nov. 26, 2014	Dec. 31, 2014	Dec. 31, 2013
		loan
Debt Instrument [Line Items]
Line of credit with affiliate		$20,000,000	$0
Mortgages
Debt Instrument [Line Items]
Debt Instrument, Face Amount		42,800,000
Mortgages | Ladder Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount	25,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.45%
Debt Instrument, Interest Rate In Event Of Default	9.45%
Revolving credit facility | Line of credit | JPMorgan Chase, Revolving credit facility
Debt Instrument [Line Items]
Line of Credit Facility, Covenant, Minimum Consolidated Net Worth		130,100,000
Line of Credit Facility, Current Borrowing Capacity		47,800,000
Revolving credit facility | Minimum | Line of credit | Secured Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Covenant, Fixed Charge Coverage Ratio1		1.5
Revolving credit facility | Maximum | Line of credit | Secured Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Covenant, Leverage Ratio		70.00%
Capmark Bank
Debt Instrument [Line Items]
Aggregate purchase price		52,500,000
Mortgage Loans on Real Estate, Number of Loans		2
Capmark Bank | Mortgages
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.66%
Walgreens
Debt Instrument [Line Items]
Payment to acquire final property in portfolio	35,800,000
Walgreens | Mortgages | Ladder Loan
Debt Instrument [Line Items]
Number of Single-Tenant Commercial Properties Held as Collateral	6
Series C, Llc | Subordinate Revolving Line of Credit | Line of credit | Affliate Line of Credit
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		2.20%
Line of Credit Facility, Current Borrowing Capacity		60,000,000
Affiliated Entity | Revolving credit facility | Line of credit | Subordinate Revolving Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate at Period End		2.36%
Line of credit with affiliate		20,000,000
Line of Credit Facility, Remaining Borrowing Capacity		$40,000,000

Recovered_Sheet2

Credit Facility and LIne of Credit With Affiliate - Debt Summary (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Debt [Roll Forward]
Beginning Balance	$0
Proceeds from Issuance of Debt	259,603
Repayments of Debt	-13,353
Debt Instrument, Increase (Decrease), Other, Net	895
Ending Balance	247,145
Line of credit | JPMorgan Chase, Revolving credit facility
Debt [Roll Forward]
Beginning Balance	0
Proceeds from Issuance of Debt	161,153
Repayments of Debt	-2,653
Ending Balance	158,500
Line of credit | Subordinate Revolving Line of Credit
Debt [Roll Forward]
Beginning Balance	0
Proceeds from Issuance of Debt	30,700
Repayments of Debt	-10,700
Ending Balance	20,000
Notes Payable, Other Payables | Fixed Rate Debt
Debt [Roll Forward]
Beginning Balance	0
Proceeds from Issuance of Debt	67,750
Repayments of Debt	0
Debt Instrument, Increase (Decrease), Other, Net	895
Ending Balance	68,645
Revolving credit facility | Line of credit | JPMorgan Chase, Revolving credit facility
Debt [Roll Forward]
Debt Instrument, Increase (Decrease), Other, Net	0
Ending Balance	158,500
Revolving credit facility | Line of credit | Subordinate Revolving Line of Credit
Debt [Roll Forward]
Debt Instrument, Increase (Decrease), Other, Net	$0

Recovered_Sheet3

Credit Facility and LIne of Credit With Affiliate - Future Payments (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Disclosure [Abstract]
2015	$0
2016	20,000
2017	201,250
2018	0
2019	0
Thereafter	25,000
Total	$246,250

Acquired_Below_Market_Lease_In2

Acquired Below Market Lease Intangibles (Details) (Acquired below market leases, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Acquired below market leases
Finite-Lived Intangible Liabilities, Net [Abstract]
Acquired below-market leases, net of accumulated amortization	$3,823
Amortization of intangible liabilities	47
Accumulated amortization	47
Useful life	8 years 7 months 6 days
Finite-Lived Intangible Liabilities, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2015	480
2016	443
2017	434
2018	428
2019	$389

Supplemental_Cash_Flow_Disclos2

Supplemental Cash Flow Disclosures (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
Fair value of mortgage notes assumed in real estate acquisitions at date of assumption	$43,744
Common stock issued through distribution reinvestment plan	1,471
Escrow deposits due to affiliate on acquired real estate assets	1,271
Distributions declared and unpaid	929
Accrued dealer manager fee and other offering costs	76
Supplemental Cash Flow Disclosures:
Interest paid	$1,265

RelatedParty_Transactions_and_2

Related-Party Transactions and Arrangements (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Due to affiliates	$1,952,000	$0
Interest expense	1,628,000
Line of credit with affiliate	20,000,000	0
Advisors
Related Party Transaction [Line Items]
Cumulative non-compounded annual return	6.00%
Minimum | Advisors
Related Party Transaction [Line Items]
Operating expense reimbursement percent	2.00%
Operating expense reimbursement percent of net income	25.00%
Average Invested Assets between $0 to $2 Billion | Advisors
Related Party Transaction [Line Items]
Asset management or advisory fee, percent	0.75%
Average Invested Assets between $0 to $2 Billion | Maximum | Advisors
Related Party Transaction [Line Items]
Average invested assets	2,000,000,000
Average Invested Assets between $0 to $2 Billion | Minimum | Advisors
Related Party Transaction [Line Items]
Average invested assets	0
Average Invested Assets Between $2 Billion to $4 Billion | Advisors
Related Party Transaction [Line Items]
Asset management or advisory fee, percent	0.70%
Average Invested Assets Between $2 Billion to $4 Billion | Maximum | Advisors
Related Party Transaction [Line Items]
Average invested assets	4,000,000,000
Average Invested Assets Between $2 Billion to $4 Billion | Minimum | Advisors
Related Party Transaction [Line Items]
Average invested assets	2,000,000,000
Average Invested Assets Over $4 Billion | Advisors
Related Party Transaction [Line Items]
Asset management or advisory fee, percent	0.65%
Average Invested Assets Over $4 Billion | Minimum | Advisors
Related Party Transaction [Line Items]
Average invested assets	4,000,000,000
Listing Commission | Advisors
Related Party Transaction [Line Items]
Commissions performance and other fees percent	15.00%
Line of credit | Revolving credit facility | Series C, Llc
Related Party Transaction [Line Items]
Interest expense		131,000
Selling commissions | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	11,532,000
Selling commissions | Maximum | Dealer Manager Commission
Related Party Transaction [Line Items]
Commissions percentage on stock sales and related dealer manager fees	7.00%
Selling commissions reallowed by cole capital | Dealer Manager Commission Reallowed
Related Party Transaction [Line Items]
Commissions percentage on stock sales and related dealer manager fees	100.00%
Selling commissions reallowed by cole capital | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	11,532,000
Dealer Manager Fee | Dealer Manager
Related Party Transaction [Line Items]
Commissions percentage on stock sales and related dealer manager fees	2.00%
Dealer Manager Fee | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	3,402,000
Other organization and offering expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	3,475,000
Other organization and offering expenses | Maximum | Advisors
Related Party Transaction [Line Items]
Organization and offering expense	2.00%
Offering Costs | Advisors
Related Party Transaction [Line Items]
Due to affiliates	76,000
Acquisition Fees and Expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	9,631,000
Acquisition Fees and Expenses | Maximum | Advisors
Related Party Transaction [Line Items]
Acquisition and advisory fees	6.00%
Acquisition Fees and Expenses | Contract purchase price of each asset | Maximum | Advisors
Related Party Transaction [Line Items]
Acquisition and advisory fees	2.00%
Reimbursement fixed annual percentage of the contract purchase price	0.50%
Acquisitions and Operations Costs | Advisors
Related Party Transaction [Line Items]
Due to affiliates	1,900,000
Property sales commission | Contract sale price of each property | Advisors
Related Party Transaction [Line Items]
Commissions performance and other fees percent	1.00%
Property Portfolio | Maximum | Advisors
Related Party Transaction [Line Items]
Commissions performance and other fees percent	6.00%
Performance fee | Advisors
Related Party Transaction [Line Items]
Commissions performance and other fees percent	15.00%
Subordinate Revolving Line of Credit | Line of credit | Revolving credit facility | Affiliated Entity
Related Party Transaction [Line Items]
Line of credit with affiliate	20,000,000
Waived Fees and Expense Reimbursements | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$800,000

Related_Party_Transactions_and

Related Party Transactions and Arrangements Related Party Transaction and Arrangements - Additional Information (Details) (Advisors, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Selling commissions
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$11,532
Acquisition Fees and Expenses
Related Party Transaction [Line Items]
Expenses from transactions with related parties	9,631
Advisory Fees and Expenses
Related Party Transaction [Line Items]
Expenses from transactions with related parties	751
Operating expenses
Related Party Transaction [Line Items]
Expenses from transactions with related parties	344
Selling commissions reallowed by cole capital
Related Party Transaction [Line Items]
Expenses from transactions with related parties	11,532
Dealer Manager Fee
Related Party Transaction [Line Items]
Expenses from transactions with related parties	3,402
Dealer manager fee reallowed by cole capital
Related Party Transaction [Line Items]
Expenses from transactions with related parties	1,793
Other organization and offering expenses
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$3,475

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Feb. 07, 2014	Jun. 19, 2013
Equity, Class of Treasury Stock [Line Items]
Common stock, shares authorized (in shares)	490,000,000	490,000,000
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Share price (in dollars per share)	$25
Common stock, shares outstanding	6,985,877	8,000	8,000
Stock repurchase program, required holding period	1 year
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding	1.25%
Stock redemption program, redemption price per share, percentage of amount paid per share, after one year	95.00%
Stock redemption program, plan redemption price per share, percentage of amount paid per share, after two year	97.50%
Stock redemption program, plan redemption price per share, percentage of amount paid per share, after three year	100.00%
Stock repurchase program, termination notice period	30 days
Distribution reinvestment plan
Equity, Class of Treasury Stock [Line Items]
Dividend reinvestment plan, reinvestment share price	$23.75
Dividend reinvestment plan, termination notice period	10 days
Shares issued pursuant to a distribution reinvestment plan (in shares)	62,000
Common stock issued through distribution reinvestment plan	$1,500,000
Redemptions of common stock		$0
Maximum
Equity, Class of Treasury Stock [Line Items]
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding	5.00%
Stock redemption program, redemption priority, shares	250
Common Stock
Equity, Class of Treasury Stock [Line Items]
Issuance of common stock, shares (in shares)				20,000
Share price (in dollars per share)				$10
Stock split, conversion ratio			2.5

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Ordinary dividends	32.00%
Nontaxable distributions	68.00%
Total	100.00%
Property, plant and equipment, land and real estate assets, net tax basis	$383,100,000
State and local income tax and franchise tax expense (benefit), continuing operations	$96,000

Operating_Leases_Operating_Lea1

Operating Leases Operating Leases (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Leases [Abstract]
Operating leases of lessor, weighted average remaining lease term	12 years 8 months 12 days
2015	$27,708
2016	27,389
2017	26,818
2018	26,157
2019	25,335
Thereafter	219,581
Total future minimum rental income	$352,988

Quarterly_Results_Unaudited_De

Quarterly Results (Unaudited) (Details) (USD $)	3 Months Ended				12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues	$5,250	$739	$85	$6	$6,080
Acquisition-related expenses	5,920	5,047	829	159	11,955
Operating loss	-4,129	-5,224	-953	-183	-10,489
Net loss	($5,640)	($5,308)	($986)	($183)	($12,117)	$0
Basic and diluted net loss per common share (in dollars per share)	($2.45)	($2.31)	($0.43)	($0.08)	($5.27)
Distributions declared per common share (in dollars per share)	$0.40	$0.40	$0.39	$0.25

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended				12 Months Ended		3 Months Ended	0 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Mar. 25, 2015	Mar. 18, 2014	Dec. 31, 2014	Mar. 25, 2015
							Property
Subsequent Event
Issuance of common stock					$173,743,000	$200,000
Credit facility and notes payable	247,145,000				247,145,000	0			247,145,000
Acquisition-related expenses	5,920,000	5,047,000	829,000	159,000	11,955,000
Line of credit | JPMorgan Chase, Revolving credit facility
Subsequent Event
Credit facility and notes payable	158,500,000				158,500,000	0			158,500,000
Line of credit | JPMorgan Chase, Revolving credit facility | Revolving credit facility
Subsequent Event
Credit facility and notes payable	158,500,000				158,500,000				158,500,000
Subsequent event
Subsequent Event
Number of businesses acquired (in properties)							24
Aggregate purchase price							48,000,000
Acquisition-related expenses							1,200,000
Subsequent event | Line of credit | JPMorgan Chase, Revolving credit facility | Revolving credit facility
Subsequent Event
Credit facility and notes payable							202,000,000			202,000,000
Initial public offering
Subsequent Event
Issuance of common stock								2,500,000	173,700,000
Issuance of common stock, shares (in shares)								110,000	7,000,000
Initial public offering | Subsequent event
Subsequent Event
Issuance of common stock										$182,100,000
Issuance of common stock, shares (in shares)										7,300,000

Schedule_III_Real_Estate_Asset1

Schedule III - Real Estate Assets and Accumulated Depreciation (Details) (USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
	Property
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$67,750,000
Initial Costs to Company
Land	87,406,000
Buildings and Improvements	258,912,000
Total Adjustment to Basis	35,000
Gross Amount at Which Carried At December 31, 2014	346,353,000	[1],[2]	0
Accumulated Depreciation	1,563,000	[3],[4]	0
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of period	0		0
Additions
Acquisitions	346,318,000		0
Improvements	35,000		0
Total additions	346,353,000		0
Deductions
Cost of real estate sold	0		0
Adjustment to basis	0		0
Other (including provisions for impairment of real estate assets)	0		0
Total deductions	0		0
Balance, end of period	346,353,000	[1],[2]	0
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, beginning of period	0		0
Additions
Acquisitions - Depreciation Expense for Building, Acquisitions Costs & Tenant Improvements Acquired	1,563,000		0
Improvements - Depreciation Expense for Tenant Improvements and Building Equipment	0		0
Total additions	1,563,000		0
Deductions
Cost of real estate sold	0		0
Other (including provisions for impairment of real estate assets)	0		0
Total deductions	0		0
Balance, end of period	1,563,000	[3],[4]	0
Number of single-tenant freestanding retail properties, owned	73
Number of multi-tenant retail properties, owned	6
Property, plant and equipment, land and real estate assets, net tax basis	383,100,000
Credit facility and notes payable	247,145,000		0
Line of credit | JPMorgan Chase, Revolving credit facility
Deductions
Credit facility and notes payable	158,500,000		0
Line of credit | Revolving credit facility | JPMorgan Chase, Revolving credit facility
Deductions
Credit facility and notes payable	158,500,000
Arkadelphia, AR | Aaron Rents:
Initial Costs to Company
Land	125,000
Buildings and Improvements	748,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	873,000	[1],[2]
Accumulated Depreciation	1,000	[3],[4]
Deductions
Balance, end of period	873,000	[1],[2]
Deductions
Balance, end of period	1,000	[3],[4]
Cartersville, GA | Academy Sports:
Initial Costs to Company
Land	1,384,000
Buildings and Improvements	7,427,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	8,811,000	[1],[2]
Accumulated Depreciation	108,000	[3],[4]
Deductions
Balance, end of period	8,811,000	[1],[2]
Deductions
Balance, end of period	108,000	[3],[4]
Fairmont, NC | Advance Auto:
Initial Costs to Company
Land	56,000
Buildings and Improvements	949,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,005,000	[1],[2]
Accumulated Depreciation	19,000	[3],[4]
Deductions
Balance, end of period	1,005,000	[1],[2]
Deductions
Balance, end of period	19,000	[3],[4]
Portage, IN | Bass Pro Shop:
Initial Costs to Company
Land	1,400,000
Buildings and Improvements	4,044,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,444,000	[1],[2]
Accumulated Depreciation	23,000	[3],[4]
Deductions
Balance, end of period	5,444,000	[1],[2]
Deductions
Balance, end of period	23,000	[3],[4]
Louisville, KY | Blankenbraker Plaza:
Initial Costs to Company
Land	3,557,000
Buildings and Improvements	11,430,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	14,987,000	[1],[2]
Accumulated Depreciation	64,000	[3],[4]
Deductions
Balance, end of period	14,987,000	[1],[2]
Deductions
Balance, end of period	64,000	[3],[4]
Rockford, IL | Brynwood Sqaure:
Initial Costs to Company
Land	1,194,000
Buildings and Improvements	10,515,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	11,709,000	[1],[2]
Accumulated Depreciation	78,000	[3],[4]
Deductions
Balance, end of period	11,709,000	[1],[2]
Deductions
Balance, end of period	78,000	[3],[4]
Yukon, OK | Burger King:
Initial Costs to Company
Land	519,000
Buildings and Improvements	587,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,106,000	[1],[2]
Accumulated Depreciation	4,000	[3],[4]
Deductions
Balance, end of period	1,106,000	[1],[2]
Deductions
Balance, end of period	4,000	[3],[4]
Bangor, ME | Burlington Coat Factory:
Initial Costs to Company
Land	1,124,000
Buildings and Improvements	3,890,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,014,000	[1],[2]
Accumulated Depreciation	5,000	[3],[4]
Deductions
Balance, end of period	5,014,000	[1],[2]
Deductions
Balance, end of period	5,000	[3],[4]
Riverton, NJ | CVS:
Initial Costs to Company
Land	699,000
Buildings and Improvements	4,657,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,356,000	[1],[2]
Accumulated Depreciation	66,000	[3],[4]
Deductions
Balance, end of period	5,356,000	[1],[2]
Deductions
Balance, end of period	66,000	[3],[4]
Braham, MN | Dollar General:
Initial Costs to Company
Land	66,000
Buildings and Improvements	906,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	972,000	[1],[2]
Accumulated Depreciation	5,000	[3],[4]
Deductions
Balance, end of period	972,000	[1],[2]
Deductions
Balance, end of period	5,000	[3],[4]
Clarion, IA | Dollar General:
Initial Costs to Company
Land	128,000
Buildings and Improvements	860,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	988,000	[1],[2]
Accumulated Depreciation	5,000	[3],[4]
Deductions
Balance, end of period	988,000	[1],[2]
Deductions
Balance, end of period	5,000	[3],[4]
Collinsville, AL | Dollar General:
Initial Costs to Company
Land	139,000
Buildings and Improvements	870,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,009,000	[1],[2]
Accumulated Depreciation	3,000	[3],[4]
Deductions
Balance, end of period	1,009,000	[1],[2]
Deductions
Balance, end of period	3,000	[3],[4]
Elmwood, IL | Dollar General:
Initial Costs to Company
Land	154,000
Buildings and Improvements	808,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	962,000	[1],[2]
Accumulated Depreciation	6,000	[3],[4]
Deductions
Balance, end of period	962,000	[1],[2]
Deductions
Balance, end of period	6,000	[3],[4]
Huntington, WV | Dollar General:
Initial Costs to Company
Land	278,000
Buildings and Improvements	989,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,267,000	[1],[2]
Accumulated Depreciation	7,000	[3],[4]
Deductions
Balance, end of period	1,267,000	[1],[2]
Deductions
Balance, end of period	7,000	[3],[4]
Junction City, OH | Dollar General:
Initial Costs to Company
Land	68,000
Buildings and Improvements	823,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	891,000	[1],[2]
Accumulated Depreciation	6,000	[3],[4]
Deductions
Balance, end of period	891,000	[1],[2]
Deductions
Balance, end of period	6,000	[3],[4]
Logansport, IN | Dollar General:
Initial Costs to Company
Land	69,000
Buildings and Improvements	942,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,011,000	[1],[2]
Accumulated Depreciation	20,000	[3],[4]
Deductions
Balance, end of period	1,011,000	[1],[2]
Deductions
Balance, end of period	20,000	[3],[4]
Moundridge, KS | Dollar General:
Initial Costs to Company
Land	190,000
Buildings and Improvements	668,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	858,000	[1],[2]
Accumulated Depreciation	15,000	[3],[4]
Deductions
Balance, end of period	858,000	[1],[2]
Deductions
Balance, end of period	15,000	[3],[4]
Oneonta, AL | Dollar General:
Initial Costs to Company
Land	93,000
Buildings and Improvements	917,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,010,000	[1],[2]
Accumulated Depreciation	3,000	[3],[4]
Deductions
Balance, end of period	1,010,000	[1],[2]
Deductions
Balance, end of period	3,000	[3],[4]
Pipestone, MN | Dollar General:
Initial Costs to Company
Land	130,000
Buildings and Improvements	891,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,021,000	[1],[2]
Accumulated Depreciation	7,000	[3],[4]
Deductions
Balance, end of period	1,021,000	[1],[2]
Deductions
Balance, end of period	7,000	[3],[4]
Selma, AL | Dollar General:
Initial Costs to Company
Land	146,000
Buildings and Improvements	903,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,049,000	[1],[2]
Accumulated Depreciation	3,000	[3],[4]
Deductions
Balance, end of period	1,049,000	[1],[2]
Deductions
Balance, end of period	3,000	[3],[4]
Shorter, AL | Dollar General:
Initial Costs to Company
Land	91,000
Buildings and Improvements	935,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,026,000	[1],[2]
Accumulated Depreciation	3,000	[3],[4]
Deductions
Balance, end of period	1,026,000	[1],[2]
Deductions
Balance, end of period	3,000	[3],[4]
Virden, IL | Dollar General:
Initial Costs to Company
Land	65,000
Buildings and Improvements	1,111,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,176,000	[1],[2]
Accumulated Depreciation	4,000	[3],[4]
Deductions
Balance, end of period	1,176,000	[1],[2]
Deductions
Balance, end of period	4,000	[3],[4]
Wakarusa, IN | Dollar General:
Initial Costs to Company
Land	161,000
Buildings and Improvements	1,038,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,199,000	[1],[2]
Accumulated Depreciation	8,000	[3],[4]
Deductions
Balance, end of period	1,199,000	[1],[2]
Deductions
Balance, end of period	8,000	[3],[4]
Willard, MO | Dollar General:
Initial Costs to Company
Land	258,000
Buildings and Improvements	904,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,162,000	[1],[2]
Accumulated Depreciation	3,000	[3],[4]
Deductions
Balance, end of period	1,162,000	[1],[2]
Deductions
Balance, end of period	3,000	[3],[4]
Wolcottville, IN | Dollar General:
Initial Costs to Company
Land	151,000
Buildings and Improvements	910,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,061,000	[1],[2]
Accumulated Depreciation	7,000	[3],[4]
Deductions
Balance, end of period	1,061,000	[1],[2]
Deductions
Balance, end of period	7,000	[3],[4]
Hobbs, NM | Family Dollar:
Initial Costs to Company
Land	350,000
Buildings and Improvements	782,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,132,000	[1],[2]
Accumulated Depreciation	1,000	[3],[4]
Deductions
Balance, end of period	1,132,000	[1],[2]
Deductions
Balance, end of period	1,000	[3],[4]
Morgan, UT | Family Dollar:
Initial Costs to Company
Land	235,000
Buildings and Improvements	858,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,093,000	[1],[2]
Accumulated Depreciation	9,000	[3],[4]
Deductions
Balance, end of period	1,093,000	[1],[2]
Deductions
Balance, end of period	9,000	[3],[4]
Roswell, NM | Family Dollar:
Initial Costs to Company
Land	379,000
Buildings and Improvements	739,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,118,000	[1],[2]
Accumulated Depreciation	6,000	[3],[4]
Deductions
Balance, end of period	1,118,000	[1],[2]
Deductions
Balance, end of period	6,000	[3],[4]
Salina, UT | Family Dollar:
Initial Costs to Company
Land	224,000
Buildings and Improvements	913,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,137,000	[1],[2]
Accumulated Depreciation	10,000	[3],[4]
Deductions
Balance, end of period	1,137,000	[1],[2]
Deductions
Balance, end of period	10,000	[3],[4]
San Antonio, TX | Family Dollar:
Initial Costs to Company
Land	345,000
Buildings and Improvements	905,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,250,000	[1],[2]
Accumulated Depreciation	1,000	[3],[4]
Deductions
Balance, end of period	1,250,000	[1],[2]
Deductions
Balance, end of period	1,000	[3],[4]
San Antonio, TX | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,536,000
Initial Costs to Company
Land	2,051,000
Buildings and Improvements	6,379,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	8,430,000	[1],[2]
Accumulated Depreciation	41,000	[3],[4]
Deductions
Balance, end of period	8,430,000	[1],[2]
Deductions
Balance, end of period	41,000	[3],[4]
Talladega, AL | Family Dollar:
Initial Costs to Company
Land	186,000
Buildings and Improvements	968,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,154,000	[1],[2]
Accumulated Depreciation	1,000	[3],[4]
Deductions
Balance, end of period	1,154,000	[1],[2]
Deductions
Balance, end of period	1,000	[3],[4]
Tennessee Colony, TX | Family Dollar:
Initial Costs to Company
Land	89,000
Buildings and Improvements	829,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	918,000	[1],[2]
Accumulated Depreciation	3,000	[3],[4]
Deductions
Balance, end of period	918,000	[1],[2]
Deductions
Balance, end of period	3,000	[3],[4]
Lafayette, IN | Fresh Thyme Farmers Market:
Initial Costs to Company
Land	410,000
Buildings and Improvements	6,208,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	6,618,000	[1],[2]
Accumulated Depreciation	37,000	[3],[4]
Deductions
Balance, end of period	6,618,000	[1],[2]
Deductions
Balance, end of period	37,000	[3],[4]
Houma, LA | Houma Crossing:
Initial Costs to Company
Land	5,359,000
Buildings and Improvements	17,574,000
Total Adjustment to Basis	35,000
Gross Amount at Which Carried At December 31, 2014	22,968,000	[1],[2]
Accumulated Depreciation	152,000	[3],[4]
Deductions
Balance, end of period	22,968,000	[1],[2]
Deductions
Balance, end of period	152,000	[3],[4]
Houma, LA | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,022,000
Initial Costs to Company
Land	1,343,000
Buildings and Improvements	3,100,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,443,000	[1],[2]
Accumulated Depreciation	23,000	[3],[4]
Deductions
Balance, end of period	4,443,000	[1],[2]
Deductions
Balance, end of period	23,000	[3],[4]
Bay City, MI | Kroger:
Initial Costs to Company
Land	1,045,000
Buildings and Improvements	5,224,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	6,269,000	[1],[2]
Accumulated Depreciation	43,000	[3],[4]
Deductions
Balance, end of period	6,269,000	[1],[2]
Deductions
Balance, end of period	43,000	[3],[4]
Lawton, OK | Lawton Marketplace:
Initial Costs to Company
Land	3,169,000
Buildings and Improvements	29,070,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	32,239,000	[1],[2]
Accumulated Depreciation	108,000	[3],[4]
Deductions
Balance, end of period	32,239,000	[1],[2]
Deductions
Balance, end of period	108,000	[3],[4]
Draper, UT | Mattress Firm:
Initial Costs to Company
Land	651,000
Buildings and Improvements	1,510,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	2,161,000	[1],[2]
Accumulated Depreciation	2,000	[3],[4]
Deductions
Balance, end of period	2,161,000	[1],[2]
Deductions
Balance, end of period	2,000	[3],[4]
Lake City, FL | Mattress Firm:
Initial Costs to Company
Land	656,000
Buildings and Improvements	1,075,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,731,000	[1],[2]
Accumulated Depreciation	1,000	[3],[4]
Deductions
Balance, end of period	1,731,000	[1],[2]
Deductions
Balance, end of period	1,000	[3],[4]
Raleigh, NC | Mattress Firm:
Initial Costs to Company
Land	431,000
Buildings and Improvements	1,121,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,552,000	[1],[2]
Accumulated Depreciation	9,000	[3],[4]
Deductions
Balance, end of period	1,552,000	[1],[2]
Deductions
Balance, end of period	9,000	[3],[4]
Iron Mountain, MI | O’Reilly Auto Parts:
Initial Costs to Company
Land	121,000
Buildings and Improvements	1,211,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,332,000	[1],[2]
Accumulated Depreciation	4,000	[3],[4]
Deductions
Balance, end of period	1,332,000	[1],[2]
Deductions
Balance, end of period	4,000	[3],[4]
Murphy, TX | Raising Canes:
Initial Costs to Company
Land	648,000
Buildings and Improvements	1,960,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	2,608,000	[1],[2]
Accumulated Depreciation	15,000	[3],[4]
Deductions
Balance, end of period	2,608,000	[1],[2]
Deductions
Balance, end of period	15,000	[3],[4]
Reno, NV | Raising Canes:
Initial Costs to Company
Land	1,119,000
Buildings and Improvements	2,174,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	3,293,000	[1],[2]
Accumulated Depreciation	2,000	[3],[4]
Deductions
Balance, end of period	3,293,000	[1],[2]
Deductions
Balance, end of period	2,000	[3],[4]
Bowling Green, KY | Shoppes of Gary Farms:
Initial Costs to Company
Land	2,039,000
Buildings and Improvements	13,730,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	15,769,000	[1],[2]
Accumulated Depreciation	47,000	[3],[4]
Deductions
Balance, end of period	15,769,000	[1],[2]
Deductions
Balance, end of period	47,000	[3],[4]
Abilene, TX | Shops at Abilene:
Initial Costs to Company
Land	3,414,000
Buildings and Improvements	21,270,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	24,684,000	[1],[2]
Accumulated Depreciation	27,000	[3],[4]
Deductions
Balance, end of period	24,684,000	[1],[2]
Deductions
Balance, end of period	27,000	[3],[4]
Kingstown, RI | Stop & Shop:
Initial Costs to Company
Land	668,000
Buildings and Improvements	998,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	1,666,000	[1],[2]
Accumulated Depreciation	9,000	[3],[4]
Deductions
Balance, end of period	1,666,000	[1],[2]
Deductions
Balance, end of period	9,000	[3],[4]
Midland, NC | Tractor Supply:
Initial Costs to Company
Land	213,000
Buildings and Improvements	2,317,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	2,530,000	[1],[2]
Accumulated Depreciation	34,000	[3],[4]
Deductions
Balance, end of period	2,530,000	[1],[2]
Deductions
Balance, end of period	34,000	[3],[4]
Carson, CA | United Oil:
Initial Costs to Company
Land	3,774,000
Buildings and Improvements	1,892,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,666,000	[1],[2]
Accumulated Depreciation	14,000	[3],[4]
Deductions
Balance, end of period	5,666,000	[1],[2]
Deductions
Balance, end of period	14,000	[3],[4]
Fallbrook, CA | United Oil:
Initial Costs to Company
Land	3,037,000
Buildings and Improvements	725,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	3,762,000	[1],[2]
Accumulated Depreciation	5,000	[3],[4]
Deductions
Balance, end of period	3,762,000	[1],[2]
Deductions
Balance, end of period	5,000	[3],[4]
Harbor City, CA | United Oil:
Initial Costs to Company
Land	2,391,000
Buildings and Improvements	1,096,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	3,487,000	[1],[2]
Accumulated Depreciation	8,000	[3],[4]
Deductions
Balance, end of period	3,487,000	[1],[2]
Deductions
Balance, end of period	8,000	[3],[4]
Hawthorne, CA | United Oil:
Initial Costs to Company
Land	1,744,000
Buildings and Improvements	363,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	2,107,000	[1],[2]
Accumulated Depreciation	3,000	[3],[4]
Deductions
Balance, end of period	2,107,000	[1],[2]
Deductions
Balance, end of period	3,000	[3],[4]
Lakewood, CA | United Oil:
Initial Costs to Company
Land	2,457,000
Buildings and Improvements	1,423,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	3,880,000	[1],[2]
Accumulated Depreciation	10,000	[3],[4]
Deductions
Balance, end of period	3,880,000	[1],[2]
Deductions
Balance, end of period	10,000	[3],[4]
Long Beach, CA | United Oil:
Initial Costs to Company
Land	2,129,000
Buildings and Improvements	777,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	2,906,000	[1],[2]
Accumulated Depreciation	6,000	[3],[4]
Deductions
Balance, end of period	2,906,000	[1],[2]
Deductions
Balance, end of period	6,000	[3],[4]
Los Angeles, CA | United Oil:
Initial Costs to Company
Land	2,761,000
Buildings and Improvements	1,235,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	3,996,000	[1],[2]
Accumulated Depreciation	9,000	[3],[4]
Deductions
Balance, end of period	3,996,000	[1],[2]
Deductions
Balance, end of period	9,000	[3],[4]
Los Angeles, CA | United Oil:
Initial Costs to Company
Land	3,499,000
Buildings and Improvements	860,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,359,000	[1],[2]
Accumulated Depreciation	6,000	[3],[4]
Deductions
Balance, end of period	4,359,000	[1],[2]
Deductions
Balance, end of period	6,000	[3],[4]
San Clemente, CA | United Oil:
Initial Costs to Company
Land	3,447,000
Buildings and Improvements	985,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,432,000	[1],[2]
Accumulated Depreciation	7,000	[3],[4]
Deductions
Balance, end of period	4,432,000	[1],[2]
Deductions
Balance, end of period	7,000	[3],[4]
San Diego, CA | United Oil:
Initial Costs to Company
Land	2,002,000
Buildings and Improvements	284,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	2,286,000	[1],[2]
Accumulated Depreciation	2,000	[3],[4]
Deductions
Balance, end of period	2,286,000	[1],[2]
Deductions
Balance, end of period	2,000	[3],[4]
San Diego, CA | United Oil:
Initial Costs to Company
Land	3,633,000
Buildings and Improvements	783,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,416,000	[1],[2]
Accumulated Depreciation	6,000	[3],[4]
Deductions
Balance, end of period	4,416,000	[1],[2]
Deductions
Balance, end of period	6,000	[3],[4]
San Diego, CA | United Oil:
Initial Costs to Company
Land	1,767,000
Buildings and Improvements	705,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	2,472,000	[1],[2]
Accumulated Depreciation	5,000	[3],[4]
Deductions
Balance, end of period	2,472,000	[1],[2]
Deductions
Balance, end of period	5,000	[3],[4]
Santa Ana, CA | United Oil:
Initial Costs to Company
Land	2,090,000
Buildings and Improvements	598,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	2,688,000	[1],[2]
Accumulated Depreciation	4,000	[3],[4]
Deductions
Balance, end of period	2,688,000	[1],[2]
Deductions
Balance, end of period	4,000	[3],[4]
Baton Rouge, LA | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,494,000
Initial Costs to Company
Land	822,000
Buildings and Improvements	4,257,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,079,000	[1],[2]
Accumulated Depreciation	29,000	[3],[4]
Deductions
Balance, end of period	5,079,000	[1],[2]
Deductions
Balance, end of period	29,000	[3],[4]
Clinton Township, MI | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,275,000
Initial Costs to Company
Land	2,399,000
Buildings and Improvements	2,977,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,376,000	[1],[2]
Accumulated Depreciation	10,000	[3],[4]
Deductions
Balance, end of period	5,376,000	[1],[2]
Deductions
Balance, end of period	10,000	[3],[4]
Delavan, WI | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,729,000
Initial Costs to Company
Land	245,000
Buildings and Improvements	4,022,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,267,000	[1],[2]
Accumulated Depreciation	29,000	[3],[4]
Deductions
Balance, end of period	4,267,000	[1],[2]
Deductions
Balance, end of period	29,000	[3],[4]
Edmond, OK | Walgreens:
Initial Costs to Company
Land	889,000
Buildings and Improvements	3,206,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,095,000	[1],[2]
Accumulated Depreciation	30,000	[3],[4]
Deductions
Balance, end of period	4,095,000	[1],[2]
Deductions
Balance, end of period	30,000	[3],[4]
Greenville, OH | Walgreens:
Initial Costs to Company
Land	953,000
Buildings and Improvements	3,164,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,117,000	[1],[2]
Accumulated Depreciation	3,000	[3],[4]
Deductions
Balance, end of period	4,117,000	[1],[2]
Deductions
Balance, end of period	3,000	[3],[4]
Harrison, AR | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,825,000
Initial Costs to Company
Land	353,000
Buildings and Improvements	5,184,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,537,000	[1],[2]
Accumulated Depreciation	17,000	[3],[4]
Deductions
Balance, end of period	5,537,000	[1],[2]
Deductions
Balance, end of period	17,000	[3],[4]
Indianapolis, IN | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,675,000
Initial Costs to Company
Land	1,238,000
Buildings and Improvements	4,734,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,972,000	[1],[2]
Accumulated Depreciation	15,000	[3],[4]
Deductions
Balance, end of period	5,972,000	[1],[2]
Deductions
Balance, end of period	15,000	[3],[4]
Kokomo, IN | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,173,000
Initial Costs to Company
Land	204,000
Buildings and Improvements	3,408,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	3,612,000	[1],[2]
Accumulated Depreciation	25,000	[3],[4]
Deductions
Balance, end of period	3,612,000	[1],[2]
Deductions
Balance, end of period	25,000	[3],[4]
Kilgore, TX | Walgreens:
Initial Costs to Company
Land	588,000
Buildings and Improvements	5,074,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,662,000	[1],[2]
Accumulated Depreciation	70,000	[3],[4]
Deductions
Balance, end of period	5,662,000	[1],[2]
Deductions
Balance, end of period	70,000	[3],[4]
Lees Summit, MO | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,250,000
Initial Costs to Company
Land	1,008,000
Buildings and Improvements	4,270,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,278,000	[1],[2]
Accumulated Depreciation	12,000	[3],[4]
Deductions
Balance, end of period	5,278,000	[1],[2]
Deductions
Balance, end of period	12,000	[3],[4]
Lubbock, TX | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,125,000
Initial Costs to Company
Land	845,000
Buildings and Improvements	3,598,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,443,000	[1],[2]
Accumulated Depreciation	26,000	[3],[4]
Deductions
Balance, end of period	4,443,000	[1],[2]
Deductions
Balance, end of period	26,000	[3],[4]
Richmond, IN | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,406,000
Initial Costs to Company
Land	138,000
Buildings and Improvements	4,923,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,061,000	[1],[2]
Accumulated Depreciation	36,000	[3],[4]
Deductions
Balance, end of period	5,061,000	[1],[2]
Deductions
Balance, end of period	36,000	[3],[4]
Salisbury, NC | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,776,000
Initial Costs to Company
Land	920,000
Buildings and Improvements	3,246,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,166,000	[1],[2]
Accumulated Depreciation	24,000	[3],[4]
Deductions
Balance, end of period	4,166,000	[1],[2]
Deductions
Balance, end of period	24,000	[3],[4]
Siloam Springs, AR | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,900,000
Initial Costs to Company
Land	933,000
Buildings and Improvements	4,146,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	5,079,000
Accumulated Depreciation	13,000
Deductions
Balance, end of period	5,079,000
Deductions
Balance, end of period	13,000
Slidell, LA | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,075,000
Initial Costs to Company
Land	1,557,000
Buildings and Improvements	2,714,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,271,000	[1],[2]
Accumulated Depreciation	9,000	[3],[4]
Deductions
Balance, end of period	4,271,000	[1],[2]
Deductions
Balance, end of period	9,000	[3],[4]
Sulphur, LA | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,554,000
Initial Costs to Company
Land	1,019,000
Buildings and Improvements	2,876,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	3,895,000
Accumulated Depreciation	21,000
Deductions
Balance, end of period	3,895,000
Deductions
Balance, end of period	21,000
Whiteville, NC | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,935,000
Initial Costs to Company
Land	888,000
Buildings and Improvements	3,454,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	4,342,000	[1],[2]
Accumulated Depreciation	25,000	[3],[4]
Deductions
Balance, end of period	4,342,000	[1],[2]
Deductions
Balance, end of period	25,000	[3],[4]
Amite, LA | Winn-Dixie:
Initial Costs to Company
Land	286,000
Buildings and Improvements	2,296,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2014	2,582,000	[1],[2]
Accumulated Depreciation	26,000	[3],[4]
Deductions
Balance, end of period	2,582,000	[1],[2]
Deductions
Balance, end of period	$26,000	[3],[4]
Building
Deductions
Acquired real estate asset, useful life	40 years
[1]	The aggregate cost for federal income tax purposes was $383.1 million.
[2]	The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): 20142013Balance, beginning of period $— $— Additions Acquisitions 346,318 — Improvements 35 — Total additions $346,353 $— Deductions Cost of real estate sold — — Adjustment to basis — — Other (including provisions for impairment of real estate assets) — — Total deductions — —Balance, end of period $346,353 $—
[3]	The following is a reconciliation of accumulated depreciation for the years ended December 31 (in thousands): 20142013Balance, beginning of period $— $— Additions Acquisitions - Depreciation Expense for Building, Acquisitions Costs & Tenant Improvements Acquired 1,563 — Improvements - Depreciation Expense for Tenant Improvements and Building Equipment — — Total additions $1,563 $— Deductions Cost of real estate sold — — Other (including provisions for impairment of real estate assets) — — Total deductions — —Balance, end of period $1,563 $—
[4]	The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, tenant improvements are amortized over the respective lease term and buildings are depreciated over 40 years.