Phillips Edison Grocery Center REIT II 10-K 5 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	Feb. 28, 2015	Jun. 30, 2014
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2014
Entity Registrant Name	Phillips Edison Grocery Center REIT II, Inc.
Entity Central Index Key	1581405
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		25.7
Entity Public Float			$219.30

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS
Land and improvements	$103,612	$0
Building and improvements	204,860	0
Acquired intangible lease assets	33,082	0
Total investment in real estate assets	341,554	0
Accumulated depreciation and amortization	-3,689	0
Total investment in real estate assets, net	337,865	0
Cash and cash equivalents	179,117	100
Restricted cash	236	0
Deferred financing expense, net of accumulated amortization of $379 and $0, respectively	3,073	0
Other assets, net	6,345	2,248
Total assets	526,636	2,348
Liabilities:
Mortgages and loans payable	29,928	0
Notes payable	0	296
Acquired below market lease intangibles, less accumulated amortization of $330 and $0, respectively	16,919	0
Accounts payable – affiliates	3,386	1,988
Accounts payable and other liabilities	7,902	9
Total liabilities	58,135	2,293
Commitments and contingencies (Note 9)	0	0
Equity:
Preferred stock, $0.01 par value per share, 10,000 shares authorized, zero shares issued and outstanding at December 31, 2014 and 2013	0	0
Common stock, $0.01 par value per share, 1,000,000 shares authorized, 22,548 and 9 shares issued and outstanding at December 31, 2014 and 2013, respectively	225	0
Additional paid-in capital	490,996	200
Accumulated deficit	-22,720	-145
Total equity	468,501	55
Total liabilities and equity	$526,636	$2,348

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]
Deferred financing expense, accumulated amortization	$379	$0
Below Market Lease, Accumulated Amortization	$330	$0
Preferred stock, par value	$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	$0.01	$0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares outstanding	22,548,000	9,000

Consolidated_Statements_Of_Ope

Consolidated Statements Of Operations and Comprehensive Loss (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Rental income	$6,434	$0
Tenant recovery income	1,973	0
Other property income	38	0
Total revenues	8,445	0
Expenses:
Property operating	1,651	0
Real estate taxes	966	0
General and administrative	1,606	145
Acquisition expenses	5,449	0
Depreciation and amortization	3,516	0
Total expenses	13,188	145
Other income (expense):
Interest expense, net	-1,206	0
Other income	116	0
Net loss	-5,833	-145
Per share information - basic and diluted:
Loss per share - basic and diluted	($0.57)	($16.31)
Weighted-average common shares outstanding - basic and diluted	10,302	9
Comprehensive loss:
Net loss	-5,833	-145
Other comprehensive income	0	0
Comprehensive loss	($5,833)	($145)

Consolidated_Statements_Of_Equ

Consolidated Statements Of Equity (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Jun. 05, 2013
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, value	$468,501	$55	$0
Issuance of common stock, value	553,131	200
Share repurchases, value	-115
Distribution reinvestment plan (DRIP), value	7,162	0
Common distributions declared, $1.49 per share	-16,742
Offering costs	-69,157
Net loss	-5,833	-145
Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, value	225	0	0
Balance, shares	22,548,000	9,000	0
Issuance of common stock, value	222	0
Issuance of common stock, shares	22,238,000	9,000
Share repurchases, value	0
Share repurchases, shares	-1,000
Distribution reinvestment plan (DRIP), value	3
Dividend reinvestment plan (DRIP), shares	302,000
Additional Paid-In Capital [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, value	490,996	200	0
Issuance of common stock, value	552,909	200
Share repurchases, value	-115
Distribution reinvestment plan (DRIP), value	7,159
Offering costs	-69,157
Accumulated Deficit [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, value	-22,720	-145	0
Common distributions declared, $1.49 per share	-16,742
Net loss	($5,833)	($145)

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Equity (Parenthetical) (USD $)	12 Months Ended
	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Common distributions declared, per share	$1.49

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	($5,833)	($145)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,475	0
Net amortization of above- and below-market leases	-152	0
Amortization of deferred financing expense	379	0
Straight-line rental income	-256	0
Changes in operating assets and liabilities:
Other assets	-3,235	-390
Accounts payable and other liabilities	4,258	9
Accounts payable – affiliates	53	130
Net cash used in operating activities	-1,311	-396
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate acquisitions	-295,451	0
Capital expenditures	-638	0
Change in restricted cash	-236	0
Net cash used in investing activities	-296,325	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	553,131	200
Payment of offering costs	-65,954	0
Distributions paid, net of DRIP	-6,535	0
Repurchases of common stock	-33	0
Payments on mortgages and loans payable	-208	0
Proceeds from notes payable	0	296
Payments on notes payable	-296	0
Payments of deferred financing expenses	-3,452	0
Net cash provided by financing activities	476,653	496
NET INCREASE IN CASH AND CASH EQUIVALENTS	179,017	100
CASH AND CASH EQUIVALENTS:
Beginning of period	100	0
End of period	179,117	100
SUPPLEMENTAL CASHFLOW DISCLOSURE, INCLUDING NON-CASH INVESTING AND FINANCING ACTIVITIES:
Cash paid for interest	524	0
Fair value of assumed debt	30,177	0
Accrued capital expenditures	508	0
Change in offering costs payable to sponsor(s)	1,345	1,858
Reclassification of deferred offering costs to additional paid-in capital	1,858	0
Change in distributions payable	3,045	0
Change in accrued share repurchase obligation	82	0
Distributions reinvested	$7,162	$0

Organization_Notes

Organization (Notes)	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	ORGANIZATION
	Phillips Edison Grocery Center REIT II, Inc., formerly known as Phillips Edison—ARC Grocery Center REIT II, Inc., (“we”, the “Company”, “our”, or “us”) was formed as a Maryland corporation on June 5, 2013. Substantially all of our business is conducted through Phillips Edison—Grocery Center Operating Partnership II, L.P., formerly known as Phillips Edison—ARC Grocery Center Operating Partnership II, L.P., (the “Operating Partnership”), a Delaware limited partnership formed on June 4, 2013. We are a limited partner of the Operating Partnership, and our wholly owned subsidiary, PE-Grocery Center OP GP II LLC, formerly known as PE-ARC Grocery Center OP GP II LLC, is the sole general partner of the Operating Partnership. As we accept subscriptions for shares in our continuous public offering, we will transfer all of the net proceeds of the offering to the Operating Partnership as a capital contribution in exchange for units of limited partnership interest; however, we are deemed to have made capital contributions in the amount of the gross offering proceeds received from investors.
	We are offering to the public, pursuant to a registration statement filed on Form S-11 with the Securities and Exchange Commission and deemed effective on November 25, 2013, $2.475 billion in shares of common stock on a “reasonable best efforts” basis in our initial public offering (“our initial public offering”). Our initial public offering consists of a primary offering of $2.0 billion in shares offered to investors at a price of $25.00 per share, with discounts available for certain categories of purchasers, and $0.475 billion in shares offered to stockholders pursuant to a distribution reinvestment plan (the “DRIP”) at a price of $23.75 per share. We have the right to reallocate the shares of common stock offered between the primary offering and the DRIP. On January 22, 2015, our board of directors made the determination to close the primary portion of our initial public offering upon the earlier of (i) June 30, 2015 or (ii) the sale of $1.6 billion in shares of our common stock.
	Our advisor is American Realty Capital PECO II Advisors, LLC (the “Advisor”), a newly organized limited liability company that was formed in the State of Delaware on July 9, 2013 and is under common control with AR Capital LLC (the “AR Capital sponsor”). We have entered into an advisory agreement with the Advisor which makes the Advisor responsible for the management of our day-to-day activities and the implementation of our investment strategy. The Advisor has delegated certain duties under the advisory agreement, including the management of our day-to-day operations and our portfolio of real estate assets, to Phillips Edison NTR II LLC (the “Sub-advisor”), which is directly or indirectly owned by Phillips Edison Limited Partnership (the “Phillips Edison sponsor”), and Michael Phillips and Jeffrey Edison, principals of our Phillips Edison sponsor. Notwithstanding such delegation to the Sub-advisor, the Advisor retains ultimate responsibility for the performance of all the matters entrusted to it under the advisory agreement.
	We invest primarily in well-occupied grocery-anchored neighborhood and community shopping centers having a mix of creditworthy national and regional retailers selling necessity-based goods and services in strong demographic markets throughout the United States. In addition, we may invest in other retail properties including power and lifestyle shopping centers, multi-tenant shopping centers, free-standing single-tenant retail properties, and other real estate and real estate-related loans and securities depending on real estate market conditions and investment opportunities that we determine are in the best interests of our stockholders. We expect that retail properties primarily would underlie or secure the real estate-related loans and securities in which we may invest.
	As of December 31, 2014, we owned fee simple interests in 20 real estate properties, acquired from third parties unaffiliated with us, the Advisor, or the Sub-advisor.

Summary_Of_Significant_Account

Summary Of Significant Accounting Policies (Notes)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation and Principles of Consolidation—The accompanying consolidated financial statements include our accounts and the accounts of the Operating Partnership and its wholly-owned subsidiaries (over which we exercise financial and operating control). The financial statements of the Operating Partnership are prepared using accounting policies consistent with our accounting policies. All intercompany balances and transactions are eliminated upon consolidation.
	Use of Estimates—The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. For example, significant estimates and assumptions have been made with respect to the useful lives of assets; recoverable amounts of receivables; initial valuations of tangible and intangible assets and liabilities and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions and other fair value measurement assessments required for the preparation of consolidated financial statements. Actual results could differ from those estimates.
	Cash and Cash Equivalents—We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value and may consist of investments in money market accounts and money market funds. The cash and cash equivalent balances at one or more of our financial institutions exceeds the Federal Depository Insurance Corporation (FDIC) insurance coverage.
	Restricted Cash—Restricted cash primarily consists of escrowed tenant improvement funds, real estate taxes, capital improvement funds, insurance premiums, and other amounts required to be escrowed pursuant to loan agreements.
	Organizational and Offering Costs—The Advisor and Sub-advisor have paid offering expenses on our behalf. Pursuant to the terms of our advisory agreement with the Advisor, we will reimburse the Advisor and the Sub-advisor on a monthly basis for these costs and future offering costs it, they or any of their respective affiliates may incur on our behalf but only to the extent that the reimbursement would not exceed 2.0% of gross offering proceeds raised in all primary offerings measured at the completion of such primary offering or cause the selling commissions, the dealer manager fee and the other organization and offering expenses borne by us to exceed 15.0% of gross offering proceeds as of the date of the reimbursement. Organization and offering expenses include all expenses (other than selling commissions and the dealer manager fee) incurred by or on behalf of us in connection with or in preparing for the registration of and subsequently offering and distributing our shares of common stock to the public, which may include, but are not limited to, expenses for printing, engraving and mailing; compensation of employees while engaged in sales activity; charges of transfer agents, registrars, trustees, escrow holders, depositaries and experts; third-party due diligence fees as set forth in detailed and itemized invoices; and expenses of qualification of the sale of the securities under federal and state laws, including taxes and fees, accountants’ and attorneys’ fees. Pursuant to the terms of the sub-advisory agreement between the Advisor and Sub-advisor, this organization and offering expense limitation of 2.0% is apportioned as follows: 1.5% to our Sub-advisor; and 0.5% to our Advisor. Organizational costs are expensed as incurred by us, the Advisor, Sub-advisor or their respective affiliates on behalf of us. Offering costs are recorded as additional paid-in capital in the consolidated statements of equity.
	Investment in Property and Lease Intangibles—Real estate assets we have acquired are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method. The estimated useful lives for computing depreciation are generally 5-7 years for furniture, fixtures and equipment, 15 years for land improvements and 30 years for buildings and building improvements. Tenant improvements are amortized over the shorter of the respective lease term or the expected useful life of the asset. Major replacements that extend the useful lives of the assets are capitalized, and maintenance and repair costs are expensed as incurred.
	Real estate assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the individual property may not be recoverable. In such an event, a comparison will be made of the projected operating cash flows of each property on an undiscounted basis to the carrying amount of such property. Such carrying amount would be adjusted, if necessary, to estimated fair values to reflect impairment in the value of the asset. We recorded no impairments for the year ended December 31, 2014 and for the period from June 5, 2013 (formation) to December 31, 2013.
	The results of operations of acquired properties are included in our results of operations from their respective dates of acquisition. We assess the acquisition-date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers (e.g., discounted cash flow analysis and replacement cost) and that utilize appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it was vacant. Acquisition-related costs are expensed as incurred.
	The fair values of buildings and improvements are determined on an as-if-vacant basis.  The estimated fair value of acquired in-place leases is the cost we would have incurred to lease the properties to the occupancy level of the properties at the date of acquisition. Such estimates include leasing commissions, legal costs and other direct costs that would be incurred to lease the properties to such occupancy levels. Additionally, we evaluate the time period over which such occupancy levels would be achieved. Such evaluation includes an estimate of the net market-based rental revenues and net operating costs (primarily consisting of real estate taxes, insurance and utilities) that would be incurred during the lease-up period. Acquired in-place leases as of the date of acquisition are amortized over the weighted-average remaining lease terms.
	Acquired above- and below-market lease values are recorded based on the present value (using interest rates that reflect the risks associated with the leases acquired) of the difference between the contractual amounts to be paid pursuant to the in-place leases and management’s estimate of the market lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized as adjustments to rental income over the remaining terms of the respective leases.  We also consider fixed rate renewal options in our calculation of the fair value of below-market leases and the periods over which such leases are amortized.  If a tenant has a unilateral option to renew a below-market lease and we determine that the tenant has a financial incentive to exercise such option, we include such an option in the calculation of the fair value of such lease and the period over which the lease is amortized.
	Management estimates the fair value of assumed mortgage notes payable based upon indications of then-current market pricing for similar types of debt with similar maturities. Assumed mortgage notes payable are initially recorded at their estimated fair value as of the assumption date, and the difference between such estimated fair value and the note’s outstanding principal balance is amortized over the life of the mortgage note payable as an adjustment to interest expense.
	Deferred Financing Expenses—Deferred financing expenses are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method. Deferred financing expenses incurred during the year ended December 31, 2014 were approximately $3.5 million. Amortization of deferred financing expenses for the year ended December 31, 2014 was approximately $0.4 million and was recorded in interest expense in the consolidated statements of operations and comprehensive loss.
	Fair Value Measurement—ASC 820, Fair Value Measurement (“ASC 820”) defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosures about fair value measurements. ASC 820 emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement. Fair value is defined by ASC 820 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 we have 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, only used to the extent that observable inputs are not available, reflect our assumptions about the pricing of an asset or liability.
	Revenue Recognition—We commence revenue recognition on our leases based on a number of factors. In most cases, revenue recognition under a lease begins when the lessee takes possession of or controls the physical use of the leased asset. Generally, this occurs on the lease commencement date. The determination of who is the owner, for accounting purposes, of the tenant improvements determines the nature of the leased asset and when revenue recognition under a lease begins. If we are the owner, for accounting purposes, of the tenant improvements, then the leased asset is the finished space, and revenue recognition begins when the lessee takes possession of the finished space, typically when the improvements are substantially complete.
	If we conclude that we are not the owner, for accounting purposes, of the tenant improvements (the lessee is the owner), then the leased asset is the unimproved space and any tenant improvement allowances funded under the lease are treated as lease incentives, which reduce revenue recognized over the term of the lease. In these circumstances, we begin revenue recognition when the lessee takes possession of the unimproved space to construct their own improvements. We consider a number of different factors in evaluating whether we or the lessee is the owner of the tenant improvements for accounting purposes. These factors include:
	•	whether the lease stipulates how and on what a tenant improvement allowance may be spent;
	•	whether the tenant or landlord retains legal title to the improvements;
	•	the uniqueness of the improvements;
	•	the expected economic life of the tenant improvements relative to the length of the lease; and
	•	who constructs or directs the construction of the improvements.
	We recognize rental income on a straight-line basis over the term of each lease. The difference between rental income earned on a straight-line basis and the cash rent due under the provisions of the lease agreements is recorded as deferred rent receivable and is included as a component of other assets, net. Due to the impact of the straight-line basis, rental income generally will be greater than the cash collected in the early years and will be less than the cash collected in the later years of a lease. Our policy for percentage rental income is to defer recognition of contingent rental income until the specified target (i.e. breakpoint) that triggers the contingent rental income is achieved.
	Reimbursements from tenants for recoverable real estate tax and operating expenses are accrued as revenue in the period in which the applicable expenses are incurred. We make certain assumptions and judgments in estimating the reimbursements at the end of each reporting period. We do not expect the actual results to materially differ from the estimated reimbursements.
	We periodically review the collectability of outstanding receivables. Allowances will be taken for those balances that we deem to be uncollectible, including any amounts relating to straight-line rent receivables and/or receivables for recoverable expenses. As of December 31, 2014 the bad debt reserve was $4,000. There was no bad debt reserve as of December 31, 2013, as we had not commenced operations.
	We record lease termination income if there is a signed termination agreement, all of the conditions of the agreement have been met, collectability is reasonably assured and the tenant is no longer occupying the property. Upon early lease termination, we provide for losses related to unrecovered tenant-specific intangibles and other assets.
	Income Taxes—We have elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). Our qualification and taxation as a REIT depends on our ability, on a continuing basis, to meet certain organizational and operational qualification requirements imposed upon REITs by the Code. If we fail to qualify as a REIT for any reason in a taxable year, we will be subject to tax on our taxable income at regular corporate rates. We would not be able to deduct distributions paid to stockholders in any year in which we fail to qualify as a REIT. We will also be disqualified for the four taxable years following the year during which qualification was lost unless we are entitled to relief under specific statutory provisions. Even if we qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income, property or net worth, respectively, and to federal income and excise taxes on our undistributed income. Additionally, GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition of a tax position taken, or expected to be taken, in a tax return. A tax position may only be recognized in the consolidated financial statements if it is more likely than not that the tax position will be sustained upon examination. We believe it is more likely than not that our tax positions will be sustained in any tax examinations.
	The tax composition of our distributions declared for the year ended December 31, 2014 was as follows:
		2014
	Ordinary Income	14.71	%
	Return of Capital	85.29	%
	Total	100	%
	Repurchase of Common Stock—We offer a share repurchase program which may allow certain stockholders to have their shares repurchased subject to approval and certain limitations and restrictions (see Note 3). We account for those financial instruments that represent our mandatory obligation to repurchase shares as liabilities to be reported at settlement value. When shares are presented for repurchase, we will reclassify such obligations from redeemable common stock to a liability based upon their respective settlement values.
	Under our share repurchase program, the maximum amount of common stock that we are required to redeem, at the shareholder’s election, during any calendar year is limited, among other things, to 5% of the weighted-average number of shares outstanding during the prior calendar year. The maximum amount is reduced each reporting period by the current year share redemptions to date. We record amounts that are redeemable under the share repurchase program as redeemable common stock outside of permanent equity in our consolidated balance sheets because redemptions are at the option of the holders and are not solely within our control. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value. As of December 31, 2014 and 2013, we did not have any redeemable common stock, as there were no shares that met the requirements for redemption.
	Class B Units—Under the terms of the Agreement of Limited Partnership of the Operating Partnership, we will issue to the Advisor and Sub-advisor units of the Operating Partnership designated as “Class B units” in connection with the asset management services provided by the Advisor and Sub-advisor.
	The Class B units will vest, and will no longer be subject to forfeiture, at such time as all of the following events occur: (x) the value of the Operating Partnership’s assets plus all distributions made equals or exceeds the total amount of capital contributed by investors plus a 6% cumulative, pre-tax, non-compounded, annual return thereon (the “economic hurdle” or the “market condition”); (y) any one of the following occurs: (1) the termination of the advisory agreement by an affirmative vote of a majority of our independent directors without cause, provided that we do not engage the Sub-advisor or an affiliate of the Advisor or Sub-advisor as our new external adviser following such termination; (2) a listing event; or (3) another liquidity event; and (z) the Advisor is still providing advisory services to us (the “service condition”). Such Class B units will be forfeited immediately if: (a) the advisory agreement is terminated for cause; or (b) the advisory agreement is terminated by an affirmative vote of a majority of our independent directors without cause before the economic hurdle has been met, provided that we do not engage the Sub-advisor or an affiliate of the Advisor or Sub-advisor as our new external adviser following such termination.
	We have concluded that the Advisor and Sub-advisor’s performance under the advisory agreement and the sub-advisory agreement is not complete until they have served as the Advisor and Sub-advisor through the date of a Liquidity Event because, prior to such date, the Class B units are subject to forfeiture by the Advisor and Sub-advisor. A Liquidity Event is defined as being the first to occur of the following: (i) a listing, (ii) a termination without cause (as discussed above), or (iii) another Liquidity Event. Additionally, the Advisor and Sub-advisor have no disincentive for nonperformance other than the forfeiture of Class B units, which is not a sufficiently large disincentive for nonperformance and, accordingly, no performance commitment exists. As a result, we have concluded the measurement date occurs when a Liquidity Event has occurred and at such time the Advisor and Sub-advisor have continued providing advisory services, and that the Class B units are not considered issued until such a Liquidity Event.
	The Class B units have both a market condition and a service condition up to and through a Liquidity Event. We intend to recognize costs during periods prior to the final measurement date in accordance with GAAP. As a result, the vesting of Class B units occurs only upon completion of both a market condition and service condition.  The satisfaction of the market or service condition is not probable and thus no compensation will be recognized unless the market condition or service condition becomes probable.
	Because the Advisor and Sub-advisor can be terminated without cause before a Liquidity Event occurs and at such time the market condition and service condition may not be met, the Class B units may be forfeited.  Additionally, if the market condition and service condition had been met and a Liquidity Event had not occurred, the Advisor and Sub-advisor could not control the Liquidity Event because each of the aforementioned events that represent a Liquidity Event must be approved by our independent directors. As a result, we have concluded that the service condition is not probable.
	Based on our conclusion of the market condition and service condition not being probable, the Class B Units will be treated as unissued for accounting purposes until the market condition, service condition and Liquidity Event have been achieved.  Distributions paid to the Advisor and Sub-advisor will be treated as compensation expense. This expense is calculated as the product of the number of unvested units issued to date and the stated distribution rate, which is same rate used for the distributions paid to our common stockholders, at the time such distribution is authorized.
	Earnings Per Share—Earnings per share are calculated based on the weighted-average number of common shares outstanding during each period. Diluted income per share considers the effect of any potentially dilutive share equivalents for the year ended December 31, 2014.
	There were 17,515 Class B units of the Operating Partnership outstanding and held by the Advisor and the Sub-advisor as of December 31, 2014. The vesting of the Class B units is contingent upon a market condition and service condition. The satisfaction of the market or service condition was not probable as of December 31, 2014, and, therefore, the Class B units are not included in earnings per share.
	Segment Reporting—We assess and measure operating results of our properties based on net property operations. We internally evaluate the operating performance of our portfolio of properties and do not differentiate properties by geography, size or type. Each of our investment properties is considered a separate operating segment, and as each property earns revenue and incurs expenses, individual operating results are reviewed and discrete financial information is available. However, the properties are aggregated into one reportable segment as they have similar economic characteristics, we provide similar services to the tenants at each of our properties, and we evaluate the collective performance of our properties. Accordingly, we did not report any other segment disclosures in 2014.
	Impact of Recently Issued Accounting Pronouncements—The following table provides a brief description of recent accounting pronouncements that could have a material effect on our financial statements:
	Standard		Description	Date of Adoption	Effect on the Financial Statements or Other Significant Matters
	ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.		The amendments in this update raise the threshold for a property disposal to qualify as a discontinued operation and require new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation.	1-Jan-15	The adoption of this pronouncement may result in property disposals not qualifying for discontinued operations presentation, and thus the results of those disposals will remain in income from continuing operations.
	Reclassification—Deferred offering costs were reclassified to other assets, net on our consolidated balance sheet as of December 31, 2013 to conform to the current year presentation.

Equity_Notes

Equity (Notes)	12 Months Ended
	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Equity	EQUITY
	General—We have the authority to issue a total of 1 billion shares of common stock with a par value of $0.01 per share and 10 million shares of preferred stock, $0.01 par value per share. As of December 31, 2014, we had issued 22.5 million shares of common stock, generating gross proceeds of $560.5 million. As of December 31, 2014, we had issued no shares of preferred stock. The holders of common stock are entitled to one vote per share on all matters voted on by stockholders, including election of the board of directors. Our charter does not provide for cumulative voting in the election of directors.
	Distribution Reinvestment Plan—We have adopted the DRIP that allows stockholders to invest distributions in additional shares of our common stock at a price equal to $23.75 per share. Stockholders who elect to participate in the DRIP, and who are subject to U.S. federal income taxation laws, will incur a tax liability on an amount equal to the fair value on the relevant distribution date of the shares of our common stock purchased with reinvested distributions, even though such stockholders have elected not to receive the distributions used to purchase those shares of common stock in cash. Distributions reinvested through the DRIP for the year ended December 31, 2014 were $7.2 million.
	Share Repurchase Program—Our share repurchase program may provide a limited opportunity for stockholders to have shares of common stock repurchased, subject to certain restrictions and limitations, at a price equal to or at a discount from the stockholders’ original purchase prices paid for the shares being repurchased.
	Repurchase of shares of common stock will be made at least quarterly upon written notice received by us by 4:00 p.m. Eastern time on the last business day prior to a quarterly financial filing. Stockholders may withdraw their repurchase request at any time before 4:00 p.m. Eastern time on the last business day prior to a quarterly financial filing.
	The board of directors may, in its sole discretion, amend, suspend, or terminate the share repurchase program at any time. If the board of directors decides to amend, suspend or terminate the share repurchase program, stockholders will be provided with no less than 30 days’ written notice.
	No repurchases of shares were made pursuant to our share repurchase program during the year ended December 31, 2014, as there were not sufficient shares of our common stock outstanding during the year ended December 31, 2013 to allow for share repurchases under the terms of our share repurchase program. However, our board of directors authorized the repurchase of a certain number of shares outside of our share repurchase program during the year ended December 31, 2014. The following table presents information regarding the shares repurchased during the year ended December 31, 2014:
		2014
	Shares repurchased	1,300
	Cost of repurchases	$	32,500
	Average repurchase price	$	25
	There were no shares repurchased during the period from June 5, 2013 (formation) to December 31, 2013.
	We record a liability representing our obligation to repurchase shares of common stock submitted for repurchase as of year end but not yet repurchased. Below is a summary of our obligation to repurchase shares of common stock recorded as a component of accounts payable and other liabilities on our consolidated balance sheet as of December 31, 2014:
		2014
	Shares submitted for repurchase	3,300
	Liability recorded	$	82,500

Fair_Value_Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENT
	The following describes the methods we use to estimate the fair value of our financial and non-financial assets and liabilities:
	Cash and cash equivalents and restricted cash—We consider the carrying values of these financial instruments to approximate fair value because of the short period of time between origination of the instruments and their expected realization. Included in cash and cash equivalents as of December 31, 2014, we had $30.0 million money market fund for which we consider the carrying value to approximate fair value based on Level 1 inputs.
	Accounts receivable and accounts payable—We consider the carrying values of these financial instruments to approximate fair value because of the short period of time between origination of the instruments and their expected realization.
	Real estate investments—The purchase prices of the investment properties, including related lease intangible assets and liabilities, were allocated at estimated fair value based on Level 3 inputs, such as discount rates, capitalization rates, comparable sales, replacement costs, income and expense growth rates and current market rents and allowances as determined
	by management.
	Mortgages and loans payable —We estimate the fair value of our debt by discounting the future cash flows of each instrument at rates currently offered for similar debt instruments of comparable maturities by our lenders using Level 3 inputs.  The discount rate used approximates current lending rates for loans or groups of loans with similar maturities and credit quality, assuming the debt is outstanding through maturity and considering the debt’s collateral (if applicable).  Such discount rate was 4.30% for secured fixed-rate debt as of December 31, 2014. We did not have any mortgage loans as of December 31, 2013. We have utilized market information, as available, or present value techniques to estimate the amounts required to be disclosed.  The fair value and recorded value of our borrowings as of December 31, 2014, were $31.1 million and $29.9 million, respectively.

Real_Estate_Acquisitions_Notes

Real Estate Acquisitions (Notes)	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Real Estate Acquisitions	REAL ESTATE ACQUISITIONS
	For the year ended December 31, 2014, we acquired 20 grocery-anchored retail centers for a combined purchase price of approximately $323.4 million, including $28.5 million of assumed debt with a fair value of $30.2 million. The following tables present certain additional information regarding our acquisitions. We allocated the purchase price of these acquisitions to the fair value of the assets acquired and liabilities assumed as follows (in thousands):
	Acquisition		Land and Improvements				Building and Improvements				Acquired In-Place Leases				Acquired Above-Market Leases		Acquired Below-Market Leases			Total Assets and Lease Liabilities Acquired		Debt Assumed		Net Assets Acquired
	Bethany Village Shopping Center		$	4,833			$	5,474			$	844			$	—	$	—		$	11,151	$	—	$	11,151
	Staunton Plaza		4,311				10,035				1,310				1,905		(46		)	17,515		12,934		4,581
	Northpark Village		1,467				6,212				632				20		(131		)	8,200		—		8,200
	Spring Cypress Village		8,219				11,731				1,385				65		—			21,400		—		21,400
	Kipling Marketplace		3,108				8,547				1,347				136		(788		)	12,350		—		12,350
	Lake Washington Crossing		3,617				9,121				1,596				—		(934		)	13,400		—		13,400
	MetroWest Village		4,665				12,528				1,417				42		(36		)	18,616		—		18,616
	Kings Crossing		4,064				8,918				986				32		—			14,000		—		14,000
	Commonwealth Square		6,811				12,962				1,342				244		(1,805		)	19,554		7,355		12,199
	Colonial Promenade		9,132				21,733				3,294				93		(975		)	33,277		—		33,277
	Point Loomis Shopping Center		4,380				8,145				1,518				—		(3,694		)	10,349		—		10,349
	DDR Portfolio(1)		3,147				8,397				1,873				22		(1,886		)	11,553		—		11,553
	Laguna 99 Plaza		5,264				12,298				1,581				179		(72		)	19,250		—		19,250
	Southfield Center		5,307				12,781				1,666				64		(944		)	18,874		—		18,874
	Shasta Crossroads		5,818				19,148				1,917				521		(1,629		)	25,775		—		25,775
	Spivey Junction		4,359				7,179				1,108				28		(979		)	11,695		—		11,695
	Quivira Crossings		6,104				9,305				1,817				52		(1,628		)	15,650		9,888		5,762
	Plaza Farmington		8,564				6,074				1,383				433		(739		)	15,715		—		15,715
	Crossroads of Shakopee		10,180				13,602				2,088				142		(962		)	25,050		—		25,050
	Total		$	103,350			$	204,190			$	29,104			$	3,978	$	(17,248	)	$	323,374	$	30,177	$	293,197
	(1) The DDR Portfolio consists of the acquisition of two properties (Hilander Village and Milan Plaza) in a single transaction on October 22, 2014.
	The amounts recognized for revenues, acquisition expenses and net income (loss) from the acquisition date to December 31, 2014 related to the operating activities of our acquisitions are as follows (in thousands):
	Acquisition		Acquisition Date		Revenues				Acquisition Expenses				Net Income (Loss)
	Bethany Village Shopping Center		3/14/14		$	917			$	185			$	96
	Staunton Plaza		4/30/14		986				361				(461		)
	Northpark Village		7/25/14		367				157				(92		)
	Spring Cypress Village		7/30/14		866				327				(114		)
	Kipling Marketplace		8/7/14		797				188				15
	Lake Washington Crossing		8/15/14		700				247				(83		)
	MetroWest Village		8/20/14		656				325				(258		)
	Kings Crossing		8/26/14		427				224				(143		)
	Commonwealth Square		10/2/14		477				313				(323		)
	Colonial Promenade		10/10/14		610				477				(335		)
	Point Loomis Shopping Center		10/21/14		334				176				(85		)
	DDR Portfolio(1)		10/22/14		350				216				(182		)
	Laguna 99 Plaza		11/10/14		246				285				(273		)
	Southfield Shopping Center		11/18/14		242				320				(216		)
	Shasta Crossroads		11/25/14		246				417				(323		)
	Spivey Junction		12/5/14		72				187				(174		)
	Quivira Crossings		12/16/14		54				243				(198		)
	Plaza Farmington		12/22/14		36				233				(202		)
	Crossroads of Shakopee		12/22/14		62				344				(305		)
	Total				$	8,445			$	5,225			$	(3,656	)
	(1) The DDR Portfolio consists of the acquisition of two properties (Hilander Village and Milan Plaza) in a single transaction on October 22, 2014.
	The following unaudited pro forma information summarizes selected financial information from our combined results of operations, as if the acquisitions had been acquired on July 1, 2013 (date of capitalization). This 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 the period, nor does it purport to represent the results of future operations.
	(in thousands)	For the Year Ended December 31, 2014
	Pro forma revenues	$	32,780
	Pro forma net income	5,367

Acquired_Intangible_Assets_Not

Acquired Intangible Assets (Notes)	12 Months Ended
	Dec. 31, 2014
Finite Lived Intangible Assets Disclosure [Abstract]
Acquired Intangible Assets	ACQUIRED INTANGIBLE LEASE ASSETS
	Acquired intangible lease assets consisted of the following amounts as of December 31, 2014 (in thousands):
		2014
	Acquired in-place leases	$	29,104
	Acquired above-market leases	3,978
	Total acquired intangible lease assets	33,082
	Accumulated amortization	(1,237		)
	Net acquired intangible lease assets	$	31,845
	There were no acquired intangible lease assets as of December 31, 2013.
	Summarized below is the amortization recorded on the intangible assets for the year ended December 31, 2014 (in thousands):
		2014
	Acquired in-place leases(1)	$	1,059
	Acquired above-market leases(1)	178
	Total	$	1,237
	(1) Amortization recorded on acquired in-place leases was included in depreciation and amortization in the consolidated statements of operations. Amortization recorded on acquired above-market leases was an adjustment to rental revenue in the consolidated statements of operations.
	There was no amortization on intangible lease assets during the period from June 5, 2013 (formation) to December 31, 2013.
	Estimated future amortization of the respective acquired intangible lease assets as of December 31, 2014 for each of the five succeeding calendar years and thereafter is as follows (in thousands):
	Year	In-Place Leases			Above-Market Leases
	2015	$	3,835		$	576
	2016	3,835			563
	2017	3,828			512
	2018	3,050			434
	2019	2,347			379
	2020 and thereafter	11,150			1,336
	Total	$	28,045		$	3,800
	The weighted-average amortization periods for acquired in-place lease intangibles and acquired above-market lease intangibles, all of which were acquired in 2014, are 11 years and nine years, respectively.

Mortgage_and_Loans_Payable_Not

Mortgage and Loans Payable (Notes)	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Mortgage and Loans Payable	MORTGAGES AND LOANS PAYABLE
	As of December 31, 2014, we had approximately $28.3 million of outstanding mortgage notes payable, excluding fair value of debt adjustments. We did not have any outstanding mortgage notes payable as of December 31, 2013. Each mortgage note payable is secured by the respective property on which the debt was placed.
	As of December 31, 2014, we had access to a $200 million revolving credit facility, which may be expanded to $700 million, from which we may draw funds to pay certain long-term debt obligations as they mature. The interest rate on the revolving credit facility is variable, based on either the prime rate, one-month LIBOR, or the federal funds rate and is affected by other factors, such as company size and leverage. The credit facility matures on July 2, 2018, with two six-month extension options to extend the maturity to July 2, 2019 that we may exercise upon payment of an extension fee equal to 0.075% of the total commitments under the facility at the time of each extension. There were no outstanding borrowings under this facility as of December 31, 2014, nor did we have any borrowing capacity under the facility, as we had not yet designated any of our properties as being included in the calculation of the borrowing base as defined by the terms of the credit facility.
	Of the amounts outstanding on our mortgages and loans payable at December 31, 2014, there are no loans maturing in 2015. As of December 31, 2014, the weighted-average interest rate for the loans was 5.8%.
	As of December 31, 2013, we had a note payable of $0.3 million related to financing for our annual directors and officers insurance premiums, pursuant to which we made monthly payments of principal and interest. In April 2014, we used the proceeds from our initial public offering to pay the remaining balance of the note payable.
	The table below summarizes our loan assumptions in conjunction with property acquisitions for the year ended December 31, 2014 (dollars in thousands):
			2014
	Number of properties acquired with loan assumptions		3
	Carrying value of assumed debt		$	28,528
	Fair value of assumed debt		30,177
	The assumed debt market adjustment will be amortized over the remaining life of the loans, and this amortization is classified as interest expense. The amortization recorded on the assumed below-market debt adjustment was $40,000 for the year ended December 31, 2014.
	The following is a summary of our debt obligations as of December 31, 2014 and 2013 (in thousands):
		31-Dec-14						31-Dec-13
		Outstanding Principal Balance			Maximum Borrowing Capacity			Outstanding Principal Balance			Maximum Borrowing Capacity
	Fixed rate mortgages payable(1)	$	28,320		$	28,320		$	—		$	—
	Fixed rate note payable	—			—			296			296
	Assumed below-market debt adjustment	1,608			N/A			—			N/A
	Total	$	29,928		$	28,320		$	296		$	296
	(1) Due to the non-recourse nature of certain mortgages, the assets and liabilities of the following properties are neither available to pay the debts of the consolidated limited liability companies nor constitute obligations of the consolidated limited liability companies: Staunton Plaza, Commonwealth Square, and Quivira Crossings.
	Below is a listing of our maturity schedule with the respective principal payment obligations (in thousands) and weighted-average interest rates:
		2015			2016			2017			2018			2019			Thereafter			Total
	Maturing debt:(1)
	Fixed-rate mortgages payable	$	589		$	619		$	660		$	8,769		$	547		$	17,136		$	28,320
	Weighted-average interest rate on debt:
	Fixed-rate mortgages payable	5.6		%	5.6		%	5.7		%	6.6		%	5.3		%	5.4		%	5.8		%
	(1)	The debt maturity table does not include any below-market debt adjustments, of which $1.6 million, net of accumulated amortization, was outstanding as of December 31, 2014.

Acquired_Below_Market_Lease_In

Acquired Below Market Lease Intangibles (Notes)	12 Months Ended
	Dec. 31, 2014
Below Market Lease [Abstract]
Acquired Below-Market Lease Intangibles	ACQUIRED BELOW-MARKET LEASE INTANGIBLES
	Summarized below is the amortization recorded on the below-market lease intangible liabilities for the year ended December 31, 2014 (in thousands):
			2014
	Acquired below-market leases(1)		$	330
	(1) Amortization recorded on acquired below-market leases was an adjustment to rental revenue in the consolidated statements of operations.
	There was no amortization of below-market lease intangible liabilities during the period from June 5, 2013 (formation) to December 31, 2013.
	Estimated future amortization income of the intangible lease liabilities as of December 31, 2014 for each of the five succeeding calendar years and thereafter is as follows (in thousands):
	Year	Below-Market Leases
	2015	$	1,415
	2016	1,415
	2017	1,209
	2018	1,081
	2019	975
	2020 and thereafter	10,824
	Total	$	16,919
	The weighted-average amortization period for below-market lease intangibles, all of which were acquired in 2014, is 17 years.

Commitments_And_Contingencies_

Commitments And Contingencies (Notes)	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES
	Litigation
	In the ordinary course of business, we may become subject to litigation or claims. There are no material legal proceedings pending or known to be contemplated against us.
	Environmental Matters
	In connection with the ownership and operation of real estate, we may be potentially liable for costs and damages related to environmental matters. We record liabilities as they arise related to environmental obligations. We have not been notified by any governmental authority of any other material non-compliance, liability or other claim, nor are we aware of any other environmental condition that we believe will have a material impact on our consolidated financial statements.

Related_Party_Transactions_Not

Related Party Transactions (Notes)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS
	Economic Dependency—We are dependent on the Advisor, the Sub-advisor, Phillips Edison & Company Ltd. (the “Property Manager”), the Dealer Manager and their respective affiliates for certain services that are essential to us, including the sale of our shares of common stock, asset acquisition and disposition decisions, asset management, operating and leasing of our properties, and other general and administrative responsibilities. In the event that the Advisor, the Sub-advisor, the Property Manager and/or the Dealer Manager are unable to provide such services, we would be required to find alternative service providers or sources of capital, which could result in higher costs and expenses.
	Advisory Agreement—Pursuant to our advisory agreement, the Advisor is entitled to specified fees for certain services, including managing our day-to-day activities and implementing our investment strategy. The Advisor has entered into a sub-advisory agreement with the Sub-advisor, which manages our day-to-day affairs and our portfolio of real estate investments, on behalf of the Advisor, subject to the board’s supervision and certain major decisions requiring the consent of both the Advisor and Sub-advisor. The expenses to be reimbursed to the Advisor and Sub-advisor will be reimbursed in proportion to the amount of expenses incurred on our behalf by the Advisor and Sub-advisor, respectively.
	Organization and Offering Costs—Under the terms of the advisory agreement, we are to reimburse on a monthly basis the Advisor, the Sub-advisor or their respective affiliates (the “Advisor Entities”) for cumulative organization and offering costs and future organization and offering costs they may incur on our behalf but only to the extent that the reimbursement would not exceed 2.0% of gross proceeds raised in all primary offerings measured at the completion of such primary offering.
	Summarized below are the organization and offering costs charged by and the costs reimbursed to the Advisor, the Sub-advisor and their affiliates for the year ended December 31, 2014 and the period from June 5, 2013 (formation) to December 31, 2013, and any related amounts unpaid as of December 31, 2014 and 2013 (in thousands):
		2014		2013
	Total Organization and Offering costs charged	$	16,381	$	1,858
	Total Organization and Offering costs reimbursed	13,178		—
	Total unpaid Organization and Offering costs	$	3,203	$	1,858
	Acquisition Fee—We pay our Advisor Entities or their assignees an acquisition fee related to services provided in connection with the selection and purchase or origination of real estate and real estate-related investments. The acquisition fee is equal to 1.0% of the contract purchase price of each property we acquire, including acquisition or origination expenses and any debt attributable to such investments.
	Acquisition Expenses—We reimburse the Sub-advisor for expenses actually incurred related to selecting, evaluating and acquiring assets on our behalf.  During the year ended December 31, 2014, we reimbursed the Sub-advisor for personnel costs related to due diligence services for assets we acquired during the period.
	Asset Management Subordinated Participation—Within 60 days after the end of each calendar quarter (subject to the approval of our board of directors), we will pay an asset management subordinated participation by issuing a number of restricted operating partnership units designated as Class B Units to the Advisor and Sub-advisor equal to: (i) 0.25% multiplied by (a) prior to the NAV pricing date, the cost of assets and (b) on and after the date on which we calculate an estimated NAV per share, the lower of the cost of assets and the applicable quarterly NAV divided by (ii) (a) prior to the date on which we calculate an estimated NAV per share, the value of one share of common stock as of the last day of such calendar quarter, which is equal initially to $22.50 (the primary offering price minus selling commissions and dealer manager fees) and (b) on and after the date on which we calculate an estimated NAV per share, the per share NAV.
	The Advisor and Sub-advisor are entitled to receive distributions on the vested and unvested Class B units they receive in connection with their asset management subordinated participation at the same rate as distributions are paid to common stockholders. Such distributions are in addition to the incentive fees that the Advisor and Sub-advisor and their affiliates may receive from us. During the year ended December 31, 2014, the Operating Partnership issued 17,515 Class B units to the Advisor and the Sub-advisor under the advisory agreement for the asset management services performed by the Advisor and the Sub-advisor during the period from January 1, 2014 to September 30, 2014. These Class B units will not vest until an economic hurdle has been met. The Advisor and Sub-advisor must continue to provide advisory services through the date that such economic hurdle is met. The economic hurdle will be met when the value of the Operating Partnership’s assets plus all distributions made equal or exceed the total amount of capital contributed by investors plus a 6.0% cumulative, pre-tax, non-compounded annual return thereon.
	Financing Coordination Fee—When our Advisor Entities provide services in connection with the origination or refinancing of any debt that we obtain and use to finance properties or other permitted investments, we pay the Advisor Entities a financing fee equal to 0.75% of all amounts made available under any such loan or line of credit.
	Disposition Fee—For substantial assistance in connection with the sale of properties or other investments, we will pay our Advisor Entities or their respective affiliates up to the lesser of: (i) 2.0% of the contract sales price of each property or other investment sold; or (ii) one-half of the total brokerage commissions paid if a non-affiliated broker is also involved in the sale, provided that total real estate commissions paid (to our Advisor Entities and others) in connection with the sale may not exceed the lesser of a competitive real estate commission and 6.0% of the contract sales price. The Conflicts Committee will determine whether our Advisor Entities or their affiliates have provided substantial assistance to us in connection with the sale of an asset. Substantial assistance in connection with the sale of a property includes our Advisor Entities’ preparation of an investment package for the property (including an investment analysis, rent rolls, tenant information regarding credit, a property title report, an environmental report, a structural report and exhibits) or such other substantial services performed by our Advisor Entities in connection with a sale.
	General and Administrative Expenses—As of December 31, 2014 and 2013, we owed both the Advisor and the Sub-advisor and their affiliates $11,000 and $130,000, respectively, for general and administrative expenses paid on our behalf. As of December 31, 2014, neither the Advisor nor the Sub-advisor has allocated any portion of their employees’ salaries to general and administrative expenses.
	Summarized below are the fees earned by and the expenses reimbursable to the Advisor and the Sub-advisor, except for organization and offering costs and general and administrative expenses, which we disclose above, for the year ended December 31, 2014 and the period from June 5, 2013 (formation) to December 31, 2013, and any related amounts unpaid as of December 31, 2014 and 2013 (in thousands):
		For the Period Ended				Unpaid Amount as of
		December 31,				December 31,
		2014		2013		2014		2013
	Acquisition fees	$	3,221	$	—	$	—	$	—
	Acquisition expenses	403		—		—		—
	Class B unit distribution(1)	5		—		3		—
	Financing fees	1,714		—		—		—
	Disposition fees	—		—		—		—
	(1)	Represents the distributions paid to the Advisor and the Sub-advisor as holders of Class B units of the Operating Partnership.
	Annual Subordinated Performance Fee—We may pay our Advisor Entities or their respective affiliates an annual subordinated performance fee calculated on the basis of our total return to stockholders, payable annually in arrears, such that for any year in which our total return on stockholders’ capital exceeds 6.0% per annum, our Advisor Entities will be entitled to 15.0% of the amount in excess of such 6.0% per annum, provided that the amount paid to the Advisor Entities does not exceed 10.0% of the aggregate total return for that year. No such amounts have been incurred or payable to date.
	Subordinated Participation in Net Sales Proceeds—The Operating Partnership may pay to Phillips Edison Special Limited Partner II LLC (the “Special Limited Partner”) a subordinated participation in the net sales proceeds of the sale of real estate assets equal to 15.0% of remaining net sales proceeds after return of capital contributions to stockholders plus payment to investors of a 6.0% cumulative, pre-tax, non-compounded return on the capital contributed by stockholders. Generally, the Advisor has a 15.0% interest and the Sub-advisor has an 85.0% interest in the Special Limited Partner. No sales of real estate assets have occurred to date.
	Subordinated Incentive Listing Distribution—The Operating Partnership may pay to the Special Limited Partner a subordinated incentive listing distribution upon the listing of our common stock on a national securities exchange. Such incentive listing distribution is equal to 15.0% of the amount by which the market value of all of our issued and outstanding common stock plus distributions exceeds the aggregate capital contributed by stockholders plus an amount equal to a 6.0% cumulative, pre-tax non-compounded annual return to stockholders.
	Neither the Special Limited Partner nor any of its affiliates can earn both the subordinated participation in the net sales proceeds and the subordinated incentive listing distribution. No subordinated incentive listing distribution has been earned to date.
	Subordinated Distribution Upon Termination of the Advisor Agreement—Upon termination or non-renewal of the advisory agreement and provided that we do not engage the Sub-advisor or an affiliate of the Advisor or Sub-advisor as our new external advisor following such termination or non-renewal, the Special Limited Partner shall be entitled to a subordinated termination distribution in the form of a non-interest bearing promissory note equal to 15.0% of the amount by which the sum of our market value plus distributions exceeds the aggregate capital contributed by stockholders plus an amount equal to a 6.0% cumulative, pre-tax non-compounded annual return to stockholders.  In addition, the Special Limited Partner may elect to defer its right to receive a subordinated distribution upon termination until either a listing on a national securities exchange or other liquidity event occurs. No such termination has been occurred to date.
	Property Manager—All of our real properties are managed and leased by the Property Manager. The Property Manager is wholly owned by our Phillips Edison sponsor and was organized on September 15, 1999. The Property Manager also manages real properties acquired by the Phillips Edison affiliates or other third parties.
	Commencing June 1, 2014, the amount we pay to the Property Manager in monthly property management fees decreased from 4.5% to 4.0% of the monthly gross cash receipts from the properties managed by the Property Manager. In the event that we contract directly with a non-affiliated third-party property manager with respect to a property, we will pay the Property Manager a monthly oversight fee equal to 1.0% of the gross revenues of the property managed. In addition to the property management fee or oversight fee, if the Property Manager provides leasing services with respect to a property, we pay the Property Manager leasing fees in an amount equal to the leasing fees charged by unaffiliated persons rendering comparable services based on national market rates. The Property Manager shall be paid a leasing fee in connection with a tenant’s exercise of an option to extend an existing lease, and the leasing fees payable to the Property Manager may be increased by up to 50% in the event that the Property Manager engages a co-broker to lease a particular vacancy. We reimburse the costs and expenses incurred by the Property Manager on our behalf, including employee compensation, legal, travel and other out-of-pocket expenses that are directly related to the management of specific properties, as well as fees and expenses of third-party accountants.
	If we engage the Property Manager to provide construction management services with respect to a particular property, we pay a construction management fee in an amount that is usual and customary for comparable services rendered to similar projects in the geographic market of the property.
	The Property Manager hires, directs and establishes policies for employees who have direct responsibility for the operations of each real property it manages, which may include, but is not limited to, on-site managers and building and maintenance personnel. Certain employees of the Property Manager may be employed on a part-time basis and may also be employed by the Sub-advisor or certain of its affiliates. The Property Manager also directs the purchase of equipment and supplies and will supervise all maintenance activity.
	Summarized below are the fees earned by and the expenses reimbursable to the Property Manager for the year ended December 31, 2014 and the period from June 5, 2013 (formation) to December 31, 2013 and any related amounts unpaid as of December 31, 2014 and 2013 (in thousands):
		For the Period Ended				Unpaid Amount as of
		December 31,				December 31,
		2014		2013		2014		2013
	Property management fees	$	273	$	—	$	97	$	—
	Leasing commissions	245		—		43		—
	Construction management fees	26		—		5		—
	Other fees and reimbursements	251		—		24		—
	Total	$	795	$	—	$	169	$	—
	Dealer Manager—Our dealer manager is Realty Capital Securities, LLC (the “Dealer Manager”). The Dealer Manager is a member firm of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and was organized on August 29, 2007. The Dealer Manager is under common control with our AR Capital sponsor and will provide certain sales, promotional and marketing services in connection with the distribution of the shares of common stock offered under our offering. Excluding shares sold pursuant to the “friends and family” program, the Dealer Manager will generally be paid a sales commission equal to 7.0% of the gross proceeds from the sale of shares of the common stock sold in the primary offering and a dealer manager fee equal to 3.0% of the gross proceeds from the sale of shares of the common stock sold in the primary offering.
	The Dealer Manager typically reallows 100% of the selling commissions and a portion of the dealer manager fee to participating broker-dealers. Alternatively, a participating broker-dealer may elect to receive a commission based upon the proceeds from the sale of shares by such participating broker-dealer, with a portion of such fee being paid at the time of such sale and the remaining amounts paid on each anniversary of the closing of such sale up to and including the fifth anniversary of the closing of such sale, in which event, a portion of the dealer manager fee will be reallowed such that the combined selling commission and dealer manager fee do not exceed 10% of the gross proceeds of our primary offering.
	Starting with the commencement of our public offering, we utilized transfer agent services provided by an affiliate of the Dealer Manager. Fees incurred from the transfer agent represent amounts paid by our Sub-advisor to the affiliate of the Dealer Manager for such services. We reimburse our Sub-advisor for these fees through the payment of organization and offering costs. The following table details total selling commissions, dealer manager fees, and service fees paid to the Dealer Manager and its affiliated transfer agent related to the sale of common stock for the year ended December 31, 2014 and the period from June 5, 2013 (formation) to December 31, 2013, and any related amounts unpaid, which are included as a component of total unpaid organization and offering costs, as of December 31, 2014 and 2013 (in thousands):
		For the Period Ended				Unpaid Amount as of
		December 31,				December 31,
		2014		2013		2014		2013
	Total commissions and fees incurred from Dealer Manager	$	52,744	$	—	$	—	$	—
	Fees incurred from the transfer agent	659		—		220		—
	Share Purchases by Sub-advisor and AR Capital sponsor—Our Sub-advisor made an initial investment in us through the purchase of 8,888 shares of our common stock. The Sub-advisor may not sell any of these shares while serving as the Sub-advisor. Our AR Capital sponsor has also purchased 17,778 shares of our common stock. The Sub-advisor and AR Capital sponsor purchased shares at a purchase price of $22.50 per share, reflecting no dealer manager fee or selling commissions paid on such shares.

Operating_Leases_Notes

Operating Leases (Notes)	12 Months Ended
	Dec. 31, 2014
Leases, Operating [Abstract]
Leases of Lessor Disclosure	OPERATING LEASES
	The terms and expirations of our operating leases with our tenants vary. The lease agreements frequently contain options to extend the terms of leases and other terms and conditions as negotiated. We retain substantially all of the risks and benefits of ownership of the real estate assets leased to tenants.
	Approximate future rentals to be received under non-cancelable operating leases in effect at December 31 of the following years, assuming no new or renegotiated leases or option extensions on lease agreements, are as follows (in thousands):
	Year	Amount
	2015	$	22,936
	2016	20,878
	2017	18,819
	2018	16,026
	2019	12,602
	2020 and thereafter	48,470
	Total	$	139,731
	No single tenant comprised 10.0% or more of our aggregate annualized effective rent as of December 31, 2014.

Quarterly_Financial_Data_Unaud

Quarterly Financial Data (Unaudited) (Notes)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Data [Abstract]
Quarterly Financial Data (Unaudited)	QUARTERLY FINANCIAL DATA (UNAUDITED)
	The following is a summary of the unaudited quarterly financial information for year ended December 31, 2014. We believe that all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to present fairly, and in accordance with GAAP, the selected quarterly information. For the period from June 5, 2013 (formation) to December 31, 2013, we did not commence significant operations or enter into any arrangements to acquire any specific investments. See the consolidated balance sheets, consolidated statements of operations and comprehensive loss, consolidated statements of equity, and consolidated statements of cash flows included in the accompanying consolidated financial statements for financial data for the period prior to January 1, 2014.
		2014
		First			Second			Third			Fourth
	(in thousands, except per share amounts)	Quarter			Quarter			Quarter			Quarter
	Total revenue	$	54		$	539		$	1,955		$	5,897
	Net loss	(349		)	(759		)	(1,921		)	(2,804		)
	Net loss per share - basic and diluted	(0.26		)	(0.13		)	(0.15		)	(0.14		)

Subsequent_Events_Notes

Subsequent Events (Notes)	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS
	Sale of Shares of Common Stock
	From January 1, 2015 through February 28, 2015, we raised gross proceeds of approximately $78.1 million through the issuance of 3.0 million shares of common stock under our offering. We have raised $638.6 million since inception through February 28, 2015, inclusive of shares sold under our DRIP.
	Distributions to Stockholders
	Distributions equal to a daily amount of $0.00445210 per share of common stock outstanding were paid subsequent to December 31, 2014 to the stockholders of record from December 1, 2014 through February 28, 2015 as follows (in thousands):
	Distribution Period	Date Distribution Paid	Gross Amount of Distribution Paid			Distribution Reinvested through the DRIP		Net Cash Distribution
	December 1, 2014 through December 31, 2014	1/2/15	$	3,045		$	1,588	$	1,457
	January 1, 2015 through January 31, 2015	2/2/15	3,210			1,674		1,536
	February 1, 2015 through February 28, 2015	3/2/15	3,089			1,621		1,468
	On January 22, 2015, our board of directors authorized distributions to the stockholders of record at the close of business each day in the period commencing March 1, 2015 through and including March 31, 2015. The authorized distributions equal an amount of $0.00445210 per share of common stock, par value $0.01 per share. We expect to pay these distributions on April 1, 2015. On March 4, 2015, our board of directors authorized distributions to the stockholders of record at the close of business each day in the period commencing April 1, 2015 through and including April 30, 2015. The authorized distributions equal an amount of $0.00445210 per share of common stock, par value $0.01 per share. We expect to pay these distributions on May 1, 2015. A portion of each distribution is expected to constitute a return of capital for tax purposes.
	New Advisory Agreement
	On January 22, 2015, we entered into a new advisory agreement (the “New Advisory Agreement”) with the Advisor. The term of the New Advisory Agreement is one year and we have the ability to terminate the New Advisory Agreement without cause or penalty upon 30 days’ written notice to the Advisor; provided, however, that we may accelerate the termination of the New Advisory Agreement if an earlier termination is necessary to allow us to draw funds from any Company-level credit facility. In the event that termination is accelerated, we will still be obligated to pay to the Advisor the fees contemplated under the New Advisory Agreement for the 30 days after delivery of the initial termination notice. All other terms are materially consistent with the prior advisory agreement.
	Amended Sub-Advisory Agreement
	On January 22, 2015, the Advisor and the Sub-advisor entered into an Amended and Restated Sub-advisory Agreement (the “Amended Sub-advisory Agreement”). The Amended Sub-advisory Agreement provides that the Advisor will generally assign to the Sub-advisor 85% of the fees we pay to the Advisor in connection with advisory services provided after January 21, 2015. The Advisor will assign to the Sub-advisor 77.5% of the fees we pay to the Advisor in connection with advisory services provided on or before January 21, 2015. All other terms are materially consistent with the sub-advisory agreement in effect through January 21, 2015.
	Amended Operating Partnership Agreement
	On January 22, 2015, we amended the agreement of limited partnership (the “Amended Partnership Agreement”) of the Operating Partnership so that (i) a termination without cause of the New Advisory Agreement will not trigger determination as to whether the Class B units issued by the Operating Partnership to the Advisor and Sub-advisor have vested if our new advisor is the Sub-advisor or an affiliate of the Advisor or the Sub-advisor, and (ii) a termination of the New Advisory Agreement will not trigger determination as to whether the Special Limited Partner is entitled to receive a subordinated distribution from the Operating Partnership if the Company’s new advisor is the Sub-advisor or an affiliate of the Advisor or the Sub-advisor. All other terms are materially consistent with the agreement of limited partnership in effect through January 21, 2015.
	Acquisitions
	Subsequent to December 31, 2014, we acquired a 100% ownership interest in the following properties (dollars in thousands):
	Property Name	Location	Anchor		Acquisition Date	Purchase Price		Square Footage		Leased % Rentable Square Feet at Acquisition
	Willimantic Plaza	Willimantic, CT	BJ’s		1/30/15	$	12,400	128,766		99	%
	Harvest Plaza	Akron, OH	Giant Eagle		2/9/15	7,960		75,866		100	%
	North Point Landing	Modesto, CA	Walmart		2/11/15	30,910		152,767		94.6	%
	Oakhurst Plaza	Seminole, FL	Publix		2/27/15	6,310		51,502		84	%
	The supplemental purchase accounting disclosures required by GAAP relating to the recent acquisitions of the aforementioned properties have not been presented as the initial accounting for these acquisitions was incomplete at the time this Annual Report on Form 10-K was filed with the SEC. The initial accounting was incomplete due to the late closing dates of the acquisitions.
	Appointment of Chief Accounting Officer
	On March 4, 2015, our board of directors appointed Jennifer L. Robison to serve as our Chief Accounting Officer.

Schedule_III_Real_Estate_Asset

Schedule III - Real Estate Assets and Accumulated Depreciation (Notes)	12 Months Ended
	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation Disclosure [Text Block]
	SCHEDULE III—REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
	As of December 31, 2014
	(in thousands)
								Initial Cost (1)				Cost Capitalized Subsequent to Acquisition		Gross Amount Carried at End of Period(2)
	Property Name	City, State		Encumbrances				Land and Improvements		Buildings and Improvements				Land and Improvements		Buildings and Improvements		Total(3)		Accumulated Depreciation(4)		Date Constructed/ Renovated	Date Acquired
	Bethany Village Shopping Center	Alpharetta, GA		$	—			$	4,833	$	5,474	$	86	$	4,892	$	5,501	$	10,393	$	215	2001	3/14/14
	Staunton Plaza	Staunton, VA		12,451				4,311		10,035		82		4,355		10,073		14,428		293		2006	4/30/14
	Northpark Village	Lubbock, TX		—				1,467		6,212		172		1,564		6,287		7,851		110		1990	7/25/14
	Spring Cypress Village	Houston, TX		—				8,219		11,731		266		8,235		11,981		20,216		237		1982/2007	7/30/14
	Kipling Marketplace	Littleton, CO		—				3,108		8,547		144		3,131		8,668		11,799		162		1983/2009	8/7/14
	Lake Washington Crossing	Melbourne, FL		—				3,617		9,121		6		3,623		9,121		12,744		164		1987/2012	8/15/14
	MetroWest Village	Orlando, FL		—				4,665		12,528		28		4,665		12,556		17,221		193		1990	8/20/14
	Kings Crossing	Sun City Center, FL		—				4,064		8,918		17		4,080		8,919		12,999		138		2000	8/26/14
	Commonwealth Square	Folsom, CA		7,143				6,811		12,962		37		6,811		12,999		19,810		191		1987	10/2/14
	Colonial Promenade	Winter Haven, FL		—				9,132		21,733		59		9,132		21,792		30,924		293		1986/2008	10/10/14
	Point Loomis Shopping Center	Milwaukee, WI		—				4,380		8,145		—		4,380		8,145		12,525		67		1965/1991	10/21/14
	Hilander Village	Roscoe, IL		—				2,293		6,637		—		2,294		6,636		8,930		85		1994	10/22/14
	Milan Plaza	Milan, MI		—				854		1,760		33		854		1,793		2,647		49		1960/1975	10/22/14
	Laguna 99 Plaza	Elk Grove, CA		—				5,264		12,298		1		5,264		12,299		17,563		99		1992	11/10/14
	Southfield Shopping Center	St. Louis, MO		—				5,307		12,781		—		5,307		12,781		18,088		54		1987	11/18/14
	Shasta Crossroads	Redding, CA		—				5,818		19,148		1		5,818		19,149		24,967		70		1989	11/25/14
	Spivey Junction	Stockbridge, GA		—				4,359		7,179		—		4,359		7,179		11,538		32		1998	12/5/14
	Quivira Crossings	Overland Park, KS		8,726				6,104		9,305		—		6,104		9,305		15,409		—		1996	12/16/14
	Plaza Farmington	Farmington, NM		—				8,564		6,074		—		8,564		6,074		14,638		—		2004	12/22/14
	Crossroads of Shakopee	Shakopee, MN		—				10,180		13,602		—		10,180		13,602		23,782		—		1998	12/22/14
	Totals			$	28,320			$	103,350	$	204,190	$	932	$	103,612	$	204,860	$	308,472	$	2,452
	(1) The initial cost to us represents the original purchase price of the property, including amounts incurred subsequent to acquisition which were contemplated at the time the property was acquired.
	(2) The aggregate cost of real estate owned at December 31, 2014.
	(3) Reconciliation of real estate owned:
		2014				2013
	Balance at January 1	$	—			$	—
	Real estate acquisitions	307,540				—
	Additions to/improvements of real estate	932				—
	Balance at December 31	$	308,472			$	—
	(4) Reconciliation of accumulated depreciation:
		2014				2013
	Balance at January 1	—				$	—
	Depreciation expense	2,452				—
	Balance at December 31	$	2,452			$	—
	* * * * *

Summary_Of_Significant_Account1

Summary Of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation—The accompanying consolidated financial statements include our accounts and the accounts of the Operating Partnership and its wholly-owned subsidiaries (over which we exercise financial and operating control). The financial statements of the Operating Partnership are prepared using accounting policies consistent with our accounting policies. All intercompany balances and transactions are eliminated upon consolidation.
Use of Estimates	Use of Estimates—The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. For example, significant estimates and assumptions have been made with respect to the useful lives of assets; recoverable amounts of receivables; initial valuations of tangible and intangible assets and liabilities and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions and other fair value measurement assessments required for the preparation of consolidated financial statements. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents—We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value and may consist of investments in money market accounts and money market funds.
Restricted Cash	Restricted Cash—Restricted cash primarily consists of escrowed tenant improvement funds, real estate taxes, capital improvement funds, insurance premiums, and other amounts required to be escrowed pursuant to loan agreements.
Organizational and Offering Costs	Organizational and Offering Costs—The Advisor and Sub-advisor have paid offering expenses on our behalf. Pursuant to the terms of our advisory agreement with the Advisor, we will reimburse the Advisor and the Sub-advisor on a monthly basis for these costs and future offering costs it, they or any of their respective affiliates may incur on our behalf but only to the extent that the reimbursement would not exceed 2.0% of gross offering proceeds raised in all primary offerings measured at the completion of such primary offering or cause the selling commissions, the dealer manager fee and the other organization and offering expenses borne by us to exceed 15.0% of gross offering proceeds as of the date of the reimbursement. Organization and offering expenses include all expenses (other than selling commissions and the dealer manager fee) incurred by or on behalf of us in connection with or in preparing for the registration of and subsequently offering and distributing our shares of common stock to the public, which may include, but are not limited to, expenses for printing, engraving and mailing; compensation of employees while engaged in sales activity; charges of transfer agents, registrars, trustees, escrow holders, depositaries and experts; third-party due diligence fees as set forth in detailed and itemized invoices; and expenses of qualification of the sale of the securities under federal and state laws, including taxes and fees, accountants’ and attorneys’ fees. Pursuant to the terms of the sub-advisory agreement between the Advisor and Sub-advisor, this organization and offering expense limitation of 2.0% is apportioned as follows: 1.5% to our Sub-advisor; and 0.5% to our Advisor. Organizational costs are expensed as incurred by us, the Advisor, Sub-advisor or their respective affiliates on behalf of us. Offering costs are recorded as additional paid-in capital in the consolidated statements of equity.
Investment Property and Lease Intangibles	Investment in Property and Lease Intangibles—Real estate assets we have acquired are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method. The estimated useful lives for computing depreciation are generally 5-7 years for furniture, fixtures and equipment, 15 years for land improvements and 30 years for buildings and building improvements. Tenant improvements are amortized over the shorter of the respective lease term or the expected useful life of the asset. Major replacements that extend the useful lives of the assets are capitalized, and maintenance and repair costs are expensed as incurred.
	Real estate assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the individual property may not be recoverable. In such an event, a comparison will be made of the projected operating cash flows of each property on an undiscounted basis to the carrying amount of such property. Such carrying amount would be adjusted, if necessary, to estimated fair values to reflect impairment in the value of the asset. We recorded no impairments for the year ended December 31, 2014 and for the period from June 5, 2013 (formation) to December 31, 2013.
	The results of operations of acquired properties are included in our results of operations from their respective dates of acquisition. We assess the acquisition-date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers (e.g., discounted cash flow analysis and replacement cost) and that utilize appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it was vacant. Acquisition-related costs are expensed as incurred.
	The fair values of buildings and improvements are determined on an as-if-vacant basis.  The estimated fair value of acquired in-place leases is the cost we would have incurred to lease the properties to the occupancy level of the properties at the date of acquisition. Such estimates include leasing commissions, legal costs and other direct costs that would be incurred to lease the properties to such occupancy levels. Additionally, we evaluate the time period over which such occupancy levels would be achieved. Such evaluation includes an estimate of the net market-based rental revenues and net operating costs (primarily consisting of real estate taxes, insurance and utilities) that would be incurred during the lease-up period. Acquired in-place leases as of the date of acquisition are amortized over the weighted-average remaining lease terms.
	Acquired above- and below-market lease values are recorded based on the present value (using interest rates that reflect the risks associated with the leases acquired) of the difference between the contractual amounts to be paid pursuant to the in-place leases and management’s estimate of the market lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized as adjustments to rental income over the remaining terms of the respective leases.  We also consider fixed rate renewal options in our calculation of the fair value of below-market leases and the periods over which such leases are amortized.  If a tenant has a unilateral option to renew a below-market lease and we determine that the tenant has a financial incentive to exercise such option, we include such an option in the calculation of the fair value of such lease and the period over which the lease is amortized.
	Management estimates the fair value of assumed mortgage notes payable based upon indications of then-current market pricing for similar types of debt with similar maturities. Assumed mortgage notes payable are initially recorded at their estimated fair value as of the assumption date, and the difference between such estimated fair value and the note’s outstanding principal balance is amortized over the life of the mortgage note payable as an adjustment to interest expense.
Deferred Financing Expenses	Deferred Financing Expenses—Deferred financing expenses are capitalized and amortized on a straight-line basis over the term of the related financing arrangement, which approximates the effective interest method.
Fair Value Measurement	Fair Value Measurement—ASC 820, Fair Value Measurement (“ASC 820”) defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosures about fair value measurements. ASC 820 emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement. Fair value is defined by ASC 820 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 we have 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, only used to the extent that observable inputs are not available, reflect our assumptions about the pricing of an asset or liability.
Revenue Recognition	Revenue Recognition—We commence revenue recognition on our leases based on a number of factors. In most cases, revenue recognition under a lease begins when the lessee takes possession of or controls the physical use of the leased asset. Generally, this occurs on the lease commencement date. The determination of who is the owner, for accounting purposes, of the tenant improvements determines the nature of the leased asset and when revenue recognition under a lease begins. If we are the owner, for accounting purposes, of the tenant improvements, then the leased asset is the finished space, and revenue recognition begins when the lessee takes possession of the finished space, typically when the improvements are substantially complete.
	If we conclude that we are not the owner, for accounting purposes, of the tenant improvements (the lessee is the owner), then the leased asset is the unimproved space and any tenant improvement allowances funded under the lease are treated as lease incentives, which reduce revenue recognized over the term of the lease. In these circumstances, we begin revenue recognition when the lessee takes possession of the unimproved space to construct their own improvements. We consider a number of different factors in evaluating whether we or the lessee is the owner of the tenant improvements for accounting purposes. These factors include:
	•	whether the lease stipulates how and on what a tenant improvement allowance may be spent;
	•	whether the tenant or landlord retains legal title to the improvements;
	•	the uniqueness of the improvements;
	•	the expected economic life of the tenant improvements relative to the length of the lease; and
	•	who constructs or directs the construction of the improvements.
	We recognize rental income on a straight-line basis over the term of each lease. The difference between rental income earned on a straight-line basis and the cash rent due under the provisions of the lease agreements is recorded as deferred rent receivable and is included as a component of other assets, net. Due to the impact of the straight-line basis, rental income generally will be greater than the cash collected in the early years and will be less than the cash collected in the later years of a lease. Our policy for percentage rental income is to defer recognition of contingent rental income until the specified target (i.e. breakpoint) that triggers the contingent rental income is achieved.
	Reimbursements from tenants for recoverable real estate tax and operating expenses are accrued as revenue in the period in which the applicable expenses are incurred. We make certain assumptions and judgments in estimating the reimbursements at the end of each reporting period. We do not expect the actual results to materially differ from the estimated reimbursements.
	We periodically review the collectability of outstanding receivables. Allowances will be taken for those balances that we deem to be uncollectible, including any amounts relating to straight-line rent receivables and/or receivables for recoverable expenses. As of December 31, 2014 the bad debt reserve was $4,000. There was no bad debt reserve as of December 31, 2013, as we had not commenced operations.
	We record lease termination income if there is a signed termination agreement, all of the conditions of the agreement have been met, collectability is reasonably assured and the tenant is no longer occupying the property. Upon early lease termination, we provide for losses related to unrecovered tenant-specific intangibles and other assets.
Income Taxes	Income Taxes—We have elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). Our qualification and taxation as a REIT depends on our ability, on a continuing basis, to meet certain organizational and operational qualification requirements imposed upon REITs by the Code. If we fail to qualify as a REIT for any reason in a taxable year, we will be subject to tax on our taxable income at regular corporate rates. We would not be able to deduct distributions paid to stockholders in any year in which we fail to qualify as a REIT. We will also be disqualified for the four taxable years following the year during which qualification was lost unless we are entitled to relief under specific statutory provisions. Even if we qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income, property or net worth, respectively, and to federal income and excise taxes on our undistributed income. Additionally, GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition of a tax position taken, or expected to be taken, in a tax return. A tax position may only be recognized in the consolidated financial statements if it is more likely than not that the tax position will be sustained upon examination. We believe it is more likely than not that our tax positions will be sustained in any tax examinations.
Repurchase of Common Stock	Repurchase of Common Stock—We offer a share repurchase program which may allow certain stockholders to have their shares repurchased subject to approval and certain limitations and restrictions (see Note 3). We account for those financial instruments that represent our mandatory obligation to repurchase shares as liabilities to be reported at settlement value. When shares are presented for repurchase, we will reclassify such obligations from redeemable common stock to a liability based upon their respective settlement values.
	Under our share repurchase program, the maximum amount of common stock that we are required to redeem, at the shareholder’s election, during any calendar year is limited, among other things, to 5% of the weighted-average number of shares outstanding during the prior calendar year. The maximum amount is reduced each reporting period by the current year share redemptions to date. We record amounts that are redeemable under the share repurchase program as redeemable common stock outside of permanent equity in our consolidated balance sheets because redemptions are at the option of the holders and are not solely within our control. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value. As of December 31, 2014 and 2013, we did not have any redeemable common stock, as there were no shares that met the requirements for redemption.
Class B Units	Class B Units—Under the terms of the Agreement of Limited Partnership of the Operating Partnership, we will issue to the Advisor and Sub-advisor units of the Operating Partnership designated as “Class B units” in connection with the asset management services provided by the Advisor and Sub-advisor.
	The Class B units will vest, and will no longer be subject to forfeiture, at such time as all of the following events occur: (x) the value of the Operating Partnership’s assets plus all distributions made equals or exceeds the total amount of capital contributed by investors plus a 6% cumulative, pre-tax, non-compounded, annual return thereon (the “economic hurdle” or the “market condition”); (y) any one of the following occurs: (1) the termination of the advisory agreement by an affirmative vote of a majority of our independent directors without cause, provided that we do not engage the Sub-advisor or an affiliate of the Advisor or Sub-advisor as our new external adviser following such termination; (2) a listing event; or (3) another liquidity event; and (z) the Advisor is still providing advisory services to us (the “service condition”). Such Class B units will be forfeited immediately if: (a) the advisory agreement is terminated for cause; or (b) the advisory agreement is terminated by an affirmative vote of a majority of our independent directors without cause before the economic hurdle has been met, provided that we do not engage the Sub-advisor or an affiliate of the Advisor or Sub-advisor as our new external adviser following such termination.
	We have concluded that the Advisor and Sub-advisor’s performance under the advisory agreement and the sub-advisory agreement is not complete until they have served as the Advisor and Sub-advisor through the date of a Liquidity Event because, prior to such date, the Class B units are subject to forfeiture by the Advisor and Sub-advisor. A Liquidity Event is defined as being the first to occur of the following: (i) a listing, (ii) a termination without cause (as discussed above), or (iii) another Liquidity Event. Additionally, the Advisor and Sub-advisor have no disincentive for nonperformance other than the forfeiture of Class B units, which is not a sufficiently large disincentive for nonperformance and, accordingly, no performance commitment exists. As a result, we have concluded the measurement date occurs when a Liquidity Event has occurred and at such time the Advisor and Sub-advisor have continued providing advisory services, and that the Class B units are not considered issued until such a Liquidity Event.
	The Class B units have both a market condition and a service condition up to and through a Liquidity Event. We intend to recognize costs during periods prior to the final measurement date in accordance with GAAP. As a result, the vesting of Class B units occurs only upon completion of both a market condition and service condition.  The satisfaction of the market or service condition is not probable and thus no compensation will be recognized unless the market condition or service condition becomes probable.
	Because the Advisor and Sub-advisor can be terminated without cause before a Liquidity Event occurs and at such time the market condition and service condition may not be met, the Class B units may be forfeited.  Additionally, if the market condition and service condition had been met and a Liquidity Event had not occurred, the Advisor and Sub-advisor could not control the Liquidity Event because each of the aforementioned events that represent a Liquidity Event must be approved by our independent directors. As a result, we have concluded that the service condition is not probable.
	Based on our conclusion of the market condition and service condition not being probable, the Class B Units will be treated as unissued for accounting purposes until the market condition, service condition and Liquidity Event have been achieved.  Distributions paid to the Advisor and Sub-advisor will be treated as compensation expense. This expense is calculated as the product of the number of unvested units issued to date and the stated distribution rate, which is same rate used for the distributions paid to our common stockholders, at the time such distribution is authorized.
Earnings Per Share	Earnings Per Share—Earnings per share are calculated based on the weighted-average number of common shares outstanding during each period. Diluted income per share considers the effect of any potentially dilutive share equivalents for the year ended December 31, 2014
Segment Reporting	Segment Reporting—We assess and measure operating results of our properties based on net property operations. We internally evaluate the operating performance of our portfolio of properties and do not differentiate properties by geography, size or type. Each of our investment properties is considered a separate operating segment, and as each property earns revenue and incurs expenses, individual operating results are reviewed and discrete financial information is available. However, the properties are aggregated into one reportable segment as they have similar economic characteristics, we provide similar services to the tenants at each of our properties, and we evaluate the collective performance of our properties. Accordingly, we did not report any other segment disclosures in 2014.
Impact of Recently Issued Accounting Pronouncements	Impact of Recently Issued Accounting Pronouncements—The following table provides a brief description of recent accounting pronouncements that could have a material effect on our financial statements:
	Standard		Description	Date of Adoption	Effect on the Financial Statements or Other Significant Matters
	ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.		The amendments in this update raise the threshold for a property disposal to qualify as a discontinued operation and require new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation.	1-Jan-15	The adoption of this pronouncement may result in property disposals not qualifying for discontinued operations presentation, and thus the results of those disposals will remain in income from continuing operations.
Reclassification	Reclassification—Deferred offering costs were reclassified to other assets, net on our consolidated balance sheet as of December 31, 2013 to conform to the current year presentation.

Summary_Of_Significant_Account2

Summary Of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Schedule of Tax Treatment of Distributions	The tax composition of our distributions declared for the year ended December 31, 2014 was as follows:
		2014
	Ordinary Income	14.71	%
	Return of Capital	85.29	%
	Total	100	%
New Accounting Pronouncements and Changes in Accounting Principles	The following table provides a brief description of recent accounting pronouncements that could have a material effect on our financial statements:
	Standard		Description	Date of Adoption	Effect on the Financial Statements or Other Significant Matters
	ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.		The amendments in this update raise the threshold for a property disposal to qualify as a discontinued operation and require new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation.	1-Jan-15	The adoption of this pronouncement may result in property disposals not qualifying for discontinued operations presentation, and thus the results of those disposals will remain in income from continuing operations.

Equity_Tables

Equity (Tables)	12 Months Ended
	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Share repurchase program	The following table presents information regarding the shares repurchased during the year ended December 31, 2014:
		2014
	Shares repurchased	1,300
	Cost of repurchases	$	32,500
	Average repurchase price	$	25
Share repurchase program, repurchase obligations	We record a liability representing our obligation to repurchase shares of common stock submitted for repurchase as of year end but not yet repurchased. Below is a summary of our obligation to repurchase shares of common stock recorded as a component of accounts payable and other liabilities on our consolidated balance sheet as of December 31, 2014:
		2014
	Shares submitted for repurchase	3,300
	Liability recorded	$	82,500

Real_Estate_Acquisitions_Table

Real Estate Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	We allocated the purchase price of these acquisitions to the fair value of the assets acquired and liabilities assumed as follows (in thousands):
	Acquisition		Land and Improvements				Building and Improvements				Acquired In-Place Leases				Acquired Above-Market Leases		Acquired Below-Market Leases			Total Assets and Lease Liabilities Acquired		Debt Assumed		Net Assets Acquired
	Bethany Village Shopping Center		$	4,833			$	5,474			$	844			$	—	$	—		$	11,151	$	—	$	11,151
	Staunton Plaza		4,311				10,035				1,310				1,905		(46		)	17,515		12,934		4,581
	Northpark Village		1,467				6,212				632				20		(131		)	8,200		—		8,200
	Spring Cypress Village		8,219				11,731				1,385				65		—			21,400		—		21,400
	Kipling Marketplace		3,108				8,547				1,347				136		(788		)	12,350		—		12,350
	Lake Washington Crossing		3,617				9,121				1,596				—		(934		)	13,400		—		13,400
	MetroWest Village		4,665				12,528				1,417				42		(36		)	18,616		—		18,616
	Kings Crossing		4,064				8,918				986				32		—			14,000		—		14,000
	Commonwealth Square		6,811				12,962				1,342				244		(1,805		)	19,554		7,355		12,199
	Colonial Promenade		9,132				21,733				3,294				93		(975		)	33,277		—		33,277
	Point Loomis Shopping Center		4,380				8,145				1,518				—		(3,694		)	10,349		—		10,349
	DDR Portfolio(1)		3,147				8,397				1,873				22		(1,886		)	11,553		—		11,553
	Laguna 99 Plaza		5,264				12,298				1,581				179		(72		)	19,250		—		19,250
	Southfield Center		5,307				12,781				1,666				64		(944		)	18,874		—		18,874
	Shasta Crossroads		5,818				19,148				1,917				521		(1,629		)	25,775		—		25,775
	Spivey Junction		4,359				7,179				1,108				28		(979		)	11,695		—		11,695
	Quivira Crossings		6,104				9,305				1,817				52		(1,628		)	15,650		9,888		5,762
	Plaza Farmington		8,564				6,074				1,383				433		(739		)	15,715		—		15,715
	Crossroads of Shakopee		10,180				13,602				2,088				142		(962		)	25,050		—		25,050
	Total		$	103,350			$	204,190			$	29,104			$	3,978	$	(17,248	)	$	323,374	$	30,177	$	293,197
	(1) The DDR Portfolio consists of the acquisition of two properties (Hilander Village and Milan Plaza) in a single transaction on October 22, 2014.
Real Estate Acquisitions [Table Text Block]	The amounts recognized for revenues, acquisition expenses and net income (loss) from the acquisition date to December 31, 2014 related to the operating activities of our acquisitions are as follows (in thousands):
	Acquisition		Acquisition Date		Revenues				Acquisition Expenses				Net Income (Loss)
	Bethany Village Shopping Center		3/14/14		$	917			$	185			$	96
	Staunton Plaza		4/30/14		986				361				(461		)
	Northpark Village		7/25/14		367				157				(92		)
	Spring Cypress Village		7/30/14		866				327				(114		)
	Kipling Marketplace		8/7/14		797				188				15
	Lake Washington Crossing		8/15/14		700				247				(83		)
	MetroWest Village		8/20/14		656				325				(258		)
	Kings Crossing		8/26/14		427				224				(143		)
	Commonwealth Square		10/2/14		477				313				(323		)
	Colonial Promenade		10/10/14		610				477				(335		)
	Point Loomis Shopping Center		10/21/14		334				176				(85		)
	DDR Portfolio(1)		10/22/14		350				216				(182		)
	Laguna 99 Plaza		11/10/14		246				285				(273		)
	Southfield Shopping Center		11/18/14		242				320				(216		)
	Shasta Crossroads		11/25/14		246				417				(323		)
	Spivey Junction		12/5/14		72				187				(174		)
	Quivira Crossings		12/16/14		54				243				(198		)
	Plaza Farmington		12/22/14		36				233				(202		)
	Crossroads of Shakopee		12/22/14		62				344				(305		)
	Total				$	8,445			$	5,225			$	(3,656	)
	(1) The DDR Portfolio consists of the acquisition of two properties (Hilander Village and Milan Plaza) in a single transaction on October 22, 2014.
Business Acquisition, Pro Forma Information [Table Text Block]	The following unaudited pro forma information summarizes selected financial information from our combined results of operations, as if the acquisitions had been acquired on July 1, 2013 (date of capitalization). This 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 the period, nor does it purport to represent the results of future operations.
	(in thousands)	For the Year Ended December 31, 2014
	Pro forma revenues	$	32,780
	Pro forma net income	5,367

Acquired_Intangible_Assets_Tab

Acquired Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2014
Finite Lived Intangible Assets Disclosure [Abstract]
Acquired Intangible Assets	Acquired intangible lease assets consisted of the following amounts as of December 31, 2014 (in thousands):
		2014
	Acquired in-place leases	$	29,104
	Acquired above-market leases	3,978
	Total acquired intangible lease assets	33,082
	Accumulated amortization	(1,237		)
	Net acquired intangible lease assets	$	31,845
Finite-lived Intangible Assets Amortization Expense	Summarized below is the amortization recorded on the intangible assets for the year ended December 31, 2014 (in thousands):
		2014
	Acquired in-place leases(1)	$	1,059
	Acquired above-market leases(1)	178
	Total	$	1,237
	(1) Amortization recorded on acquired in-place leases was included in depreciation and amortization in the consolidated statements of operations. Amortization recorded on acquired above-market leases was an adjustment to rental revenue in the consolidated statements of operations.
Schedule of Acquired Intangible Assets, Future Amortization Expense	Estimated future amortization of the respective acquired intangible lease assets as of December 31, 2014 for each of the five succeeding calendar years and thereafter is as follows (in thousands):
	Year	In-Place Leases			Above-Market Leases
	2015	$	3,835		$	576
	2016	3,835			563
	2017	3,828			512
	2018	3,050			434
	2019	2,347			379
	2020 and thereafter	11,150			1,336
	Total	$	28,045		$	3,800

Mortgage_and_Loans_Payable_Tab

Mortgage and Loans Payable (Tables)	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Schedule of Assumed Debt [Table Text Block]	The table below summarizes our loan assumptions in conjunction with property acquisitions for the year ended December 31, 2014 (dollars in thousands):
			2014
	Number of properties acquired with loan assumptions		3
	Carrying value of assumed debt		$	28,528
	Fair value of assumed debt		30,177
Schedule of Debt Obligations [Table Text Block]	The following is a summary of our debt obligations as of December 31, 2014 and 2013 (in thousands):
		31-Dec-14						31-Dec-13
		Outstanding Principal Balance			Maximum Borrowing Capacity			Outstanding Principal Balance			Maximum Borrowing Capacity
	Fixed rate mortgages payable(1)	$	28,320		$	28,320		$	—		$	—
	Fixed rate note payable	—			—			296			296
	Assumed below-market debt adjustment	1,608			N/A			—			N/A
	Total	$	29,928		$	28,320		$	296		$	296
	(1) Due to the non-recourse nature of certain mortgages, the assets and liabilities of the following properties are neither available to pay the debts of the consolidated limited liability companies nor constitute obligations of the consolidated limited liability companies: Staunton Plaza, Commonwealth Square, and Quivira Crossings.
Schedule of Maturities of Long-term Debt [Table Text Block]	Below is a listing of our maturity schedule with the respective principal payment obligations (in thousands) and weighted-average interest rates:
		2015			2016			2017			2018			2019			Thereafter			Total
	Maturing debt:(1)
	Fixed-rate mortgages payable	$	589		$	619		$	660		$	8,769		$	547		$	17,136		$	28,320
	Weighted-average interest rate on debt:
	Fixed-rate mortgages payable	5.6		%	5.6		%	5.7		%	6.6		%	5.3		%	5.4		%	5.8		%
	(1)	The debt maturity table does not include any below-market debt adjustments, of which $1.6 million, net of accumulated amortization, was outstanding as of December 31, 2014.

Acquired_Below_Market_Lease_In1

Acquired Below Market Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2014
Below Market Lease [Abstract]
Below Market Lease, Amortization	Summarized below is the amortization recorded on the below-market lease intangible liabilities for the year ended December 31, 2014 (in thousands):
			2014
	Acquired below-market leases(1)		$	330
	(1) Amortization recorded on acquired below-market leases was an adjustment to rental revenue in the consolidated statements of operations.
Below Market Lease, Future Amortization Income	Estimated future amortization income of the intangible lease liabilities as of December 31, 2014 for each of the five succeeding calendar years and thereafter is as follows (in thousands):
	Year	Below-Market Leases
	2015	$	1,415
	2016	1,415
	2017	1,209
	2018	1,081
	2019	975
	2020 and thereafter	10,824
	Total	$	16,919

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Summary of Organization and Offering Costs	Summarized below are the organization and offering costs charged by and the costs reimbursed to the Advisor, the Sub-advisor and their affiliates for the year ended December 31, 2014 and the period from June 5, 2013 (formation) to December 31, 2013, and any related amounts unpaid as of December 31, 2014 and 2013 (in thousands):
		2014		2013
	Total Organization and Offering costs charged	$	16,381	$	1,858
	Total Organization and Offering costs reimbursed	13,178		—
	Total unpaid Organization and Offering costs	$	3,203	$	1,858
Advisor Transactions	Summarized below are the fees earned by and the expenses reimbursable to the Advisor and the Sub-advisor, except for organization and offering costs and general and administrative expenses, which we disclose above, for the year ended December 31, 2014 and the period from June 5, 2013 (formation) to December 31, 2013, and any related amounts unpaid as of December 31, 2014 and 2013 (in thousands):
		For the Period Ended				Unpaid Amount as of
		December 31,				December 31,
		2014		2013		2014		2013
	Acquisition fees	$	3,221	$	—	$	—	$	—
	Acquisition expenses	403		—		—		—
	Class B unit distribution(1)	5		—		3		—
	Financing fees	1,714		—		—		—
	Disposition fees	—		—		—		—
	(1)	Represents the distributions paid to the Advisor and the Sub-advisor as holders of Class B units of the Operating Partnership.
Property Manager Transactions	Summarized below are the fees earned by and the expenses reimbursable to the Property Manager for the year ended December 31, 2014 and the period from June 5, 2013 (formation) to December 31, 2013 and any related amounts unpaid as of December 31, 2014 and 2013 (in thousands):
		For the Period Ended				Unpaid Amount as of
		December 31,				December 31,
		2014		2013		2014		2013
	Property management fees	$	273	$	—	$	97	$	—
	Leasing commissions	245		—		43		—
	Construction management fees	26		—		5		—
	Other fees and reimbursements	251		—		24		—
	Total	$	795	$	—	$	169	$	—
Dealer Manager Transactions	The following table details total selling commissions, dealer manager fees, and service fees paid to the Dealer Manager and its affiliated transfer agent related to the sale of common stock for the year ended December 31, 2014 and the period from June 5, 2013 (formation) to December 31, 2013, and any related amounts unpaid, which are included as a component of total unpaid organization and offering costs, as of December 31, 2014 and 2013 (in thousands):
		For the Period Ended				Unpaid Amount as of
		December 31,				December 31,
		2014		2013		2014		2013
	Total commissions and fees incurred from Dealer Manager	$	52,744	$	—	$	—	$	—
	Fees incurred from the transfer agent	659		—		220		—

Operating_Leases_Tables

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2014
Leases, Operating [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Approximate future rentals to be received under non-cancelable operating leases in effect at December 31 of the following years, assuming no new or renegotiated leases or option extensions on lease agreements, are as follows (in thousands):
	Year	Amount
	2015	$	22,936
	2016	20,878
	2017	18,819
	2018	16,026
	2019	12,602
	2020 and thereafter	48,470
	Total	$	139,731

Quarterly_Financial_Data_Unaud1

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	The following is a summary of the unaudited quarterly financial information for year ended December 31, 2014. We believe that all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to present fairly, and in accordance with GAAP, the selected quarterly information. For the period from June 5, 2013 (formation) to December 31, 2013, we did not commence significant operations or enter into any arrangements to acquire any specific investments. See the consolidated balance sheets, consolidated statements of operations and comprehensive loss, consolidated statements of equity, and consolidated statements of cash flows included in the accompanying consolidated financial statements for financial data for the period prior to January 1, 2014.
		2014
		First			Second			Third			Fourth
	(in thousands, except per share amounts)	Quarter			Quarter			Quarter			Quarter
	Total revenue	$	54		$	539		$	1,955		$	5,897
	Net loss	(349		)	(759		)	(1,921		)	(2,804		)
	Net loss per share - basic and diluted	(0.26		)	(0.13		)	(0.15		)	(0.14		)

Subsequent_Events_Tables

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Dividends Paid	Distributions equal to a daily amount of $0.00445210 per share of common stock outstanding were paid subsequent to December 31, 2014 to the stockholders of record from December 1, 2014 through February 28, 2015 as follows (in thousands):
	Distribution Period	Date Distribution Paid	Gross Amount of Distribution Paid			Distribution Reinvested through the DRIP		Net Cash Distribution
	December 1, 2014 through December 31, 2014	1/2/15	$	3,045		$	1,588	$	1,457
	January 1, 2015 through January 31, 2015	2/2/15	3,210			1,674		1,536
	February 1, 2015 through February 28, 2015	3/2/15	3,089			1,621		1,468
Schedule of Business Acquisitions, by Acquisition	Subsequent to December 31, 2014, we acquired a 100% ownership interest in the following properties (dollars in thousands):
	Property Name	Location	Anchor		Acquisition Date	Purchase Price		Square Footage		Leased % Rentable Square Feet at Acquisition
	Willimantic Plaza	Willimantic, CT	BJ’s		1/30/15	$	12,400	128,766		99	%
	Harvest Plaza	Akron, OH	Giant Eagle		2/9/15	7,960		75,866		100	%
	North Point Landing	Modesto, CA	Walmart		2/11/15	30,910		152,767		94.6	%
	Oakhurst Plaza	Seminole, FL	Publix		2/27/15	6,310		51,502		84	%

Organization_Details

Organization (Details) (USD $)	0 Months Ended
	Jan. 22, 2015	Dec. 31, 2014
		Properties
Organization [Line Items]
Offering total shares value		$2,475,000,000
Number of Real Estate Properties		20
IPO [Member]
Organization [Line Items]
Offering total shares value		2,000,000,000
Sale of Stock, Price Per Share		$25
Initial Public Offering Dividend Reinvestment Plan [Member]
Organization [Line Items]
Offering total shares value		475,000,000
Sale of Stock, Price Per Share		$23.75
Subsequent Event [Member]
Organization [Line Items]
Event to close the primary portion of IPO, common stock sold	$1,600,000,000

Summary_Of_Significant_Account3

Summary Of Significant Accounting Policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Cash and cash equivalents maximum original maturity	3 months
Offering costs maximum reimbursement percentage	2.00%
Organization and offering costs maximum percentage of gross proceeds	15.00%
Maximum % of offering proceeds payable to Sub-advisor	1.50%
Maximum % of offering proceeds payable to Advisor	0.50%
Impairment of real estate	$0	$0
Deferred financing expenses incurred	3,500,000
Amortization of financing expenses	379,000	0
Bad debt reserve	$4,000	$0
Ordinary income percentage of distributions	14.71%
Return of capital percentage of distributions	85.29%
Stock repurchase program, number of shares authorized to be repurchased, percentage of weighted-average shares	5.00%
Operating partnership return for class B to vest	6.00%
Class B units outstanding	17,515
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	30 years

Equity_Details

Equity (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, par value (in usd per share)	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$0.01	$0.01
Common stock, shares issued	22,550,000
Common stock, including additional paid in capital	$560,500,000
Preferred stock, shares issued	0	0
Common stock, voting rights	The holders of common stock are entitled to one vote per share on all matters voted on by stockholders, including election of the board of directors. Our charter does not provide for cumulative voting in the election of directors.
Distributions reinvested	7,162,000	0
Dividend Reinvestment Plan [Member]
Class of Stock [Line Items]
Common stock, price per share for DRIP	$23.75
Distributions reinvested	7,200,000
Share Repurchase Program [Member]
Class of Stock [Line Items]
Common stock, share repurchase plan termination notice days	30 days
Common stock, shares repurchased	1,300	0
Common stock, cost of repurchases	32,500
Common stock, average repurchase price	$25
Share repurchase program, shares submitted for repurchases	3,300
Share repurchase program, liability recorded	$82,500

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Inputs Discount Rate Fixed Rate Debt	4.30%
Mortgage loans payable, fair value disclosure	$31,100,000
Mortgages and loans payable	29,928,000	0
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market fund, fair value disclosure	$30,000,000

Real_Estate_Acquisitions_Detai

Real Estate Acquisitions (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
	Properties
Business Combinations [Abstract]
Number of properties acquired during period	20
Business acquisition, cost of acquired entities, purchase price	$323,400,000
Business acquisition, cost of acquired entities, debt assumed	28,528,000
Fair value of assumed debt	$30,177,000

Real_Estate_Acquisitions_Detai1

Real Estate Acquisitions (Details) - Allocation (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Bethany Village [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	$4,833
Purchase price allocation, building and improvements	5,474
Purchase price allocation, in-place leases	844
Purchase price allocation, above-market leases	0
Purchase price allocation, below-market leases	0
Purchase price allocation, assets and lease liabilities acquired	11,151
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	11,151
Staunton Plaza [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	4,311
Purchase price allocation, building and improvements	10,035
Purchase price allocation, in-place leases	1,310
Purchase price allocation, above-market leases	1,905
Purchase price allocation, below-market leases	-46
Purchase price allocation, assets and lease liabilities acquired	17,515
Purchase price allocation, debt assumed	12,934
Purchase price allocation, net assets acquired	4,581
Northpark Village [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	1,467
Purchase price allocation, building and improvements	6,212
Purchase price allocation, in-place leases	632
Purchase price allocation, above-market leases	20
Purchase price allocation, below-market leases	-131
Purchase price allocation, assets and lease liabilities acquired	8,200
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	8,200
Spring Cypress Village [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	8,219
Purchase price allocation, building and improvements	11,731
Purchase price allocation, in-place leases	1,385
Purchase price allocation, above-market leases	65
Purchase price allocation, below-market leases	0
Purchase price allocation, assets and lease liabilities acquired	21,400
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	21,400
Kipling Marketplace [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	3,108
Purchase price allocation, building and improvements	8,547
Purchase price allocation, in-place leases	1,347
Purchase price allocation, above-market leases	136
Purchase price allocation, below-market leases	-788
Purchase price allocation, assets and lease liabilities acquired	12,350
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	12,350
Lake Washington Crossing [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	3,617
Purchase price allocation, building and improvements	9,121
Purchase price allocation, in-place leases	1,596
Purchase price allocation, above-market leases	0
Purchase price allocation, below-market leases	-934
Purchase price allocation, assets and lease liabilities acquired	13,400
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	13,400
MetroWest Village [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	4,665
Purchase price allocation, building and improvements	12,528
Purchase price allocation, in-place leases	1,417
Purchase price allocation, above-market leases	42
Purchase price allocation, below-market leases	-36
Purchase price allocation, assets and lease liabilities acquired	18,616
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	18,616
Kings Crossing [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	4,064
Purchase price allocation, building and improvements	8,918
Purchase price allocation, in-place leases	986
Purchase price allocation, above-market leases	32
Purchase price allocation, below-market leases	0
Purchase price allocation, assets and lease liabilities acquired	14,000
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	14,000
Commonwealth Square [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	6,811
Purchase price allocation, building and improvements	12,962
Purchase price allocation, in-place leases	1,342
Purchase price allocation, above-market leases	244
Purchase price allocation, below-market leases	-1,805
Purchase price allocation, assets and lease liabilities acquired	19,554
Purchase price allocation, debt assumed	7,355
Purchase price allocation, net assets acquired	12,199
Colonial Promenade [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	9,132
Purchase price allocation, building and improvements	21,733
Purchase price allocation, in-place leases	3,294
Purchase price allocation, above-market leases	93
Purchase price allocation, below-market leases	-975
Purchase price allocation, assets and lease liabilities acquired	33,277
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	33,277
Point Loomis [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	4,380
Purchase price allocation, building and improvements	8,145
Purchase price allocation, in-place leases	1,518
Purchase price allocation, above-market leases	0
Purchase price allocation, below-market leases	-3,694
Purchase price allocation, assets and lease liabilities acquired	10,349
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	10,349
DDR Portfolio [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	3,147	[1]
Purchase price allocation, building and improvements	8,397	[1]
Purchase price allocation, in-place leases	1,873	[1]
Purchase price allocation, above-market leases	22	[1]
Purchase price allocation, below-market leases	-1,886
Purchase price allocation, assets and lease liabilities acquired	11,553	[1]
Purchase price allocation, debt assumed	0	[1]
Purchase price allocation, net assets acquired	11,553	[1]
Laguna 99 Plaza [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	5,264
Purchase price allocation, building and improvements	12,298
Purchase price allocation, in-place leases	1,581
Purchase price allocation, above-market leases	179
Purchase price allocation, below-market leases	-72
Purchase price allocation, assets and lease liabilities acquired	19,250
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	19,250
Southfield Center [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	5,307
Purchase price allocation, building and improvements	12,781
Purchase price allocation, in-place leases	1,666
Purchase price allocation, above-market leases	64
Purchase price allocation, below-market leases	-944
Purchase price allocation, assets and lease liabilities acquired	18,874
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	18,874
Shasta Crossroads [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	5,818
Purchase price allocation, building and improvements	19,148
Purchase price allocation, in-place leases	1,917
Purchase price allocation, above-market leases	521
Purchase price allocation, below-market leases	-1,629
Purchase price allocation, assets and lease liabilities acquired	25,775
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	25,775
Spivey Junction [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	4,359
Purchase price allocation, building and improvements	7,179
Purchase price allocation, in-place leases	1,108
Purchase price allocation, above-market leases	28
Purchase price allocation, below-market leases	-979
Purchase price allocation, assets and lease liabilities acquired	11,695
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	11,695
Quivira Crossings [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	6,104
Purchase price allocation, building and improvements	9,305
Purchase price allocation, in-place leases	1,817
Purchase price allocation, above-market leases	52
Purchase price allocation, below-market leases	-1,628
Purchase price allocation, assets and lease liabilities acquired	15,650
Purchase price allocation, debt assumed	9,888
Purchase price allocation, net assets acquired	5,762
Plaza Farmington [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	8,564
Purchase price allocation, building and improvements	6,074
Purchase price allocation, in-place leases	1,383
Purchase price allocation, above-market leases	433
Purchase price allocation, below-market leases	-739
Purchase price allocation, assets and lease liabilities acquired	15,715
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	15,715
Crossroads of Shakopee [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	10,180
Purchase price allocation, building and improvements	13,602
Purchase price allocation, in-place leases	2,088
Purchase price allocation, above-market leases	142
Purchase price allocation, below-market leases	-962
Purchase price allocation, assets and lease liabilities acquired	25,050
Purchase price allocation, debt assumed	0
Purchase price allocation, net assets acquired	25,050
Acquisitions in 2014 [Member]
Business Acquisition [Line Items]
Purchase price allocation, land and improvements	103,350
Purchase price allocation, building and improvements	204,190
Purchase price allocation, in-place leases	29,104
Purchase price allocation, above-market leases	3,978
Purchase price allocation, below-market leases	-17,248
Purchase price allocation, assets and lease liabilities acquired	323,374
Purchase price allocation, debt assumed	30,177
Purchase price allocation, net assets acquired	$293,197
[1]	The DDR Portfolio consists of the acquisition of two properties (Hilander Village and Milan Plaza) in a single transaction on October 22, 2014.

Real_Estate_Acquisitions_Detai2

Real Estate Acquisitions (Details) - Operations (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Business Acquisition [Line Items]
Revenues	$8,445		$0
Acquisition expenses	5,449		0
Bethany Village [Member]
Business Acquisition [Line Items]
Revenues	917
Acquisition expenses	185
Net income (loss)	96
Staunton Plaza [Member]
Business Acquisition [Line Items]
Revenues	986
Acquisition expenses	361
Net income (loss)	-461
Northpark Village [Member]
Business Acquisition [Line Items]
Revenues	367
Acquisition expenses	157
Net income (loss)	-92
Spring Cypress Village [Member]
Business Acquisition [Line Items]
Revenues	866
Acquisition expenses	327
Net income (loss)	-114
Kipling Marketplace [Member]
Business Acquisition [Line Items]
Revenues	797
Acquisition expenses	188
Net income (loss)	15
Lake Washington Crossing [Member]
Business Acquisition [Line Items]
Revenues	700
Acquisition expenses	247
Net income (loss)	-83
MetroWest Village [Member]
Business Acquisition [Line Items]
Revenues	656
Acquisition expenses	325
Net income (loss)	-258
Kings Crossing [Member]
Business Acquisition [Line Items]
Revenues	427
Acquisition expenses	224
Net income (loss)	-143
Commonwealth Square [Member]
Business Acquisition [Line Items]
Revenues	477
Acquisition expenses	313
Net income (loss)	-323
Colonial Promenade [Member]
Business Acquisition [Line Items]
Revenues	610
Acquisition expenses	477
Net income (loss)	-335
Point Loomis [Member]
Business Acquisition [Line Items]
Revenues	334
Acquisition expenses	176
Net income (loss)	-85
DDR Portfolio [Member]
Business Acquisition [Line Items]
Revenues	350	[1]
Acquisition expenses	216	[1]
Net income (loss)	-182	[1]
Laguna 99 Plaza [Member]
Business Acquisition [Line Items]
Revenues	246
Acquisition expenses	285
Net income (loss)	-273
Southfield Center [Member]
Business Acquisition [Line Items]
Revenues	242
Acquisition expenses	320
Net income (loss)	-216
Shasta Crossroads [Member]
Business Acquisition [Line Items]
Revenues	246
Acquisition expenses	417
Net income (loss)	-323
Spivey Junction [Member]
Business Acquisition [Line Items]
Revenues	72
Acquisition expenses	187
Net income (loss)	-174
Quivira Crossings [Member]
Business Acquisition [Line Items]
Revenues	54
Acquisition expenses	243
Net income (loss)	-198
Plaza Farmington [Member]
Business Acquisition [Line Items]
Revenues	36
Acquisition expenses	233
Net income (loss)	-202
Crossroads of Shakopee [Member]
Business Acquisition [Line Items]
Revenues	62
Acquisition expenses	344
Net income (loss)	-305
Acquisitions in 2014 [Member]
Business Acquisition [Line Items]
Revenues	8,445
Acquisition expenses	5,225
Net income (loss)	($3,656)
[1]	The DDR Portfolio consists of the acquisition of two properties (Hilander Village and Milan Plaza) in a single transaction on October 22, 2014.

Real_Estate_Acquisitions_Detai3

Real Estate Acquisitions (Details) - Pro Forma (Acquisitions in 2014 [Member], USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Acquisitions in 2014 [Member]
Business Acquisition [Line Items]
Business Acquisition, pro forma revenue	$32,780
Business acquisition, pro forma net income (loss)	$5,367

Acquired_Intangible_Assets_Det

Acquired Intangible Assets (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible lease assets	$33,082	$0
Acquired intangible assets, accumulated amortization	-1,237
Acquired intangible assets, net of accumulated amortization	31,845
Acquired in-place leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible lease assets	29,104
Acquired intangible assets, net of accumulated amortization	28,045
Acquired above-market leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible lease assets	3,978
Acquired intangible assets, net of accumulated amortization	$3,800

Acquired_Intangible_Assets_Det1

Acquired Intangible Assets (Details) - Amortization Expense (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Intangible Assets, Amortization Expense	$1,237
Acquired in-place leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Intangible Assets, Amortization Expense	1,059	[1]
Acquired above-market leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Intangible Assets, Amortization Expense	$178	[1]
[1]	Amortization recorded on acquired in-place leases was included in depreciation and amortization in the consolidated statements of operations. Amortization recorded on acquired above-market leases was an adjustment to rental revenue in the consolidated statements of operations.

Acquired_Intangible_Assets_Det2

Acquired Intangible Assets (Details) - Five Succeeding Calendar Years (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, net of accumulated amortization	$31,845
Acquired in-place leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
2015	3,835
2016	3,835
2017	3,828
2018	3,050
2019	2,347
2020 and thereafter	11,150
Acquired intangible assets, net of accumulated amortization	28,045
Acquired Intangible Assets, Weighted-Average Amortization Period	11 years
Acquired above-market leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
2015	576
2016	563
2017	512
2018	434
2019	379
2020 and thereafter	1,336
Acquired intangible assets, net of accumulated amortization	$3,800
Acquired Intangible Assets, Weighted-Average Amortization Period	9 years

Mortgage_and_Loans_Payable_Det

Mortgage and Loans Payable (Details) (USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
	Properties
Debt Instrument [Line Items]
Outstanding mortgage notes payable maturing in 2015	$0
Weighted-average interest rate on debt	5.80%
Notes payable	0		296,000
Number of properties acquired with loan assumptions	3
Carrying value of assumed debt	28,528,000
Fair value of assumed debt	30,177,000
Amortization on assumed below-market debt adjustment	40,000
Fixed Rate Mortgages Payable [Member]
Debt Instrument [Line Items]
Outstanding principal balance	28,320,000	[1]	0	[1]
Fixed rate note payable [Member]
Debt Instrument [Line Items]
Outstanding principal balance	0		296,000
Revolving Credit Facility [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity	200,000,000
Credit facility, maximum potential borrowing capacity	$700,000,000
Debt instrument, number of extension options	2
Debt instrument, extension fee percentage	0.08%
[1]	Due to the non-recourse nature of certain mortgages, the assets and liabilities of the following properties are neither available to pay the debts of the consolidated limited liability companies nor constitute obligations of the consolidated limited liability companies: Staunton Plaza, Commonwealth Square, and Quivira Crossings.

Mortgage_and_Loans_Payable_Det1

Mortgage and Loans Payable (Details) - Debt Obligations (USD $)	Dec. 31, 2014		Dec. 31, 2013
Debt Instrument [Line Items]
Outstanding principal balance, total long-term debt	$29,928,000		$0
Fixed Rate Mortgages Payable [Member]
Debt Instrument [Line Items]
Outstanding principal balance	28,320,000	[1]	0	[1]
Maximum borrowing capacity	28,320,000	[1]	0	[1]
Fixed rate note payable [Member]
Debt Instrument [Line Items]
Outstanding principal balance	0		296,000
Maximum borrowing capacity	0		296,000
Assumed Below-Market Debt Adjustment [Member]
Debt Instrument [Line Items]
Outstanding principal balance, assumed below-market debt adjustment	1,608,000		0
Long-term Debt [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	28,320,000		296,000
Outstanding principal balance, total long-term debt	$29,928,000		$296,000
[1]	Due to the non-recourse nature of certain mortgages, the assets and liabilities of the following properties are neither available to pay the debts of the consolidated limited liability companies nor constitute obligations of the consolidated limited liability companies: Staunton Plaza, Commonwealth Square, and Quivira Crossings.

Mortgage_and_Loans_Payable_Det2

Mortgage and Loans Payable (Details) - Principal Payment Obiligations (USD $)	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Weighted-average interest rate on debt	5.80%
Fixed Rate Mortgages Payable [Member]
Debt Instrument [Line Items]
Mortgage principal payment obligation, 2015	$589,000
Mortgage principal payment obligation, 2016	619,000
Mortgage principal payment obligation, 2017	660,000
Mortgage principal payment obligation, 2018	8,769,000
Mortgage principal payment obligation, 2019	547,000
Mortgage principal payment obligation, thereafter	17,136,000
Total Debt	28,320,000
Weighted-average interest rate on debt, 2015	5.60%
Weighted-average interest rate on debt, 2016	5.60%
Weighted-average interest rate on debt, 2017	5.70%
Weighted-average interest rate on debt, 2018	6.60%
Weighted-average interest rate on debt, 2019	5.30%
Weighted-average interest rate on debt, thereafter	5.40%
Assumed Below-Market Debt Adjustment [Member]
Debt Instrument [Line Items]
Below-market assumed debt adjustment	$1,608,000	$0

Acquired_Below_Market_Lease_In2

Acquired Below Market Lease Intangibles (Details) - Amortization Expense (USD $)	7 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2014
Below Market Lease [Abstract]
Acquired below-market leases, amortization	$0	[1]	$330	[1]
[1]	Amortization recorded on acquired below-market leases was an adjustment to rental revenue in the consolidated statements of operations.

Acquired_Below_Market_Lease_In3

Acquired Below Market Lease Intangibles (Details) - Five Succeeding Calendar Years (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
Below Market Lease, Amortization Income, 2015	$1,415
Below Market Lease, Amortization Income, 2016	1,415
Below Market Lease, Amortization Income, 2017	1,209
Below Market Lease, Amortization Income, 2018	1,081
Below Market Lease, Amortization Income, 2019	975
Below Market Lease, Amortization Income, 2020 and thereafter	10,824
Below Market Lease, Net	$16,919
Below Market Lease, Weighted Average Amortization Period	17 years

Related_Party_Transactions_Det

Related Party Transactions (Details) - Advisor (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Related Party Transactions [Abstract]
Offering costs maximum reimbursement percentage	2.00%
Total organization and offering costs charged	$16,381		$1,858
Total organization and offering costs reimbursed	13,178		0
Total unpaid organization and offering costs	3,203		1,858
Acquisition fee percentage	1.00%
Class B units issuance due date	60 days
Class B units issued	17,515
Operating partnership return for class B to vest	6.00%
Financing fee percentage	0.75%
Disposition fee percentage	2.00%
Real estate commission, percent of sales price, max	6.00%
General and administrative expenses payable to related parties	11		130
Acquisition fees	3,221		0
Acquisition expenses	403		0
Class B unit distribution	5	[1]	0	[1]
Financing fees	1,714		0
Disposition fees	0		0
Acquisition fees, unpaid amount	0		0
Acquisition expenses, unpaid amount	0		0
Class B distribution, unpaid amount	3	[1]	0	[1]
Financing fees, unpaid amount	0		0
Disposition fees, unpaid amount	$0		$0
Investor Return Before Subordinated Performance Participation	6.00%
Subordinated Performance Fee Percentage	15.00%
Limit on Performance Fee, Percent of Total Return, Max	10.00%
Subordinated Participation in Net Sales Proceeds Percentage	15.00%
Investor Return Before Subordinated Participation in Net Sales Proceeds	6.00%
Advisor Interest in Special Limited Partner	15.00%
Sub-Advisor Interest in Special Limited Partner	85.00%
Subordinated Incentive Listing Fee Percentage	15.00%
Investor Return Before Subordinated Listing Incentive Fee	6.00%
Subordinated Distribution Upon Termination of Advisor Agreement Percentage	15.00%
Investor Return Before Subordinated Distribution Upon Termination of Advisor Agreement	6.00%
[1]	Represents the distributions paid to the Advisor and the Sub-advisor as holders of Class B units of the Operating Partnership.

Related_Party_Transactions_Det1

Related Party Transactions (Details) - Property Manager Transactions (USD $)	5 Months Ended	7 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	31-May-14	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]
Property management fee, percent fee	4.50%	4.00%
Property management oversight fee, percent fee			1.00%
Allowed percentage increase to leasing fee payable			50.00%
Property management fees			$273	$0
Leasing commissions			245	0
Construction management fees			26	0
Other fees and reimbursements			251	0
Property manager fees and reimbursements			795	0
Property management fees, unpaid amount		97	97	0
Leasing commissions, unpaid amount		43	43	0
Construction management fees, unpaid amount		5	5	0
Other fees and reimbursements, unpaid amount		24	24	0
Property manager fees and reimbursements, unpaid amount		$169	$169	$0

Related_Party_Transactions_Det2

Related Party Transactions (Details) - Other (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]
Dealer manager selling commission percentage	7.00%
Dealer manager fee percentage	3.00%
Percentage of dealer manager selling commissions typically reallowed	100.00%
Selling commission & dealer manager fee, percent offering, max	10.00%
Total commissions and fees incurred from Dealer Manager	$52,744	$0
Total commissions and fees incurred from Dealer Manager, unpaid amount	0	0
Fees incurred from transfer agent	659	0
Fees incurred from the transfer agent, unpaid amount	$220	$0
Shares owned by Sub-Advisor	8,888
Shares owned by AR Capital Sponsor	17,778
Advisor and Sub-Advisor share purchase price	$22.50

Operating_Leases_Details

Operating Leases (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Leases, Operating [Abstract]
2015	22,936
2016	20,878
2017	18,819
2018	16,026
2019	12,602
2020 and thereafter	48,470
Total	139,731
Other Tenants Maximum [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Aggregate Annualized Effective Rent [Member] | Tenant Concentration Risk [Member]
Concentration Risk [Line Items]
Number of tenants accounting for 10% or more of aggregate annualized effective rent	0

Quarterly_Financial_Data_Unaud2

Quarterly Financial Data (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 Data [Abstract]
Total revenue	$5,897	$1,955	$539	$54
Net loss	($2,804)	($1,921)	($759)	($349)	($5,833)	($145)
Net loss per share - basic and diluted	($0.14)	($0.15)	($0.13)	($0.26)	($0.57)	($16.31)

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	12 Months Ended		2 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Feb. 28, 2015
Subsequent Event [Line Items]
Issuance of common stock, value	$553,131	$200
Common stock, value, raised since inception	225	0
Subsequent Event [Member]
Subsequent Event [Line Items]
Issuance of common stock, value			78,100
Issuance of common stock, shares			3,000
Common stock, value, raised since inception			$638,600

Subsequent_Events_Details_Dist

Subsequent Events (Details) - Distributions (USD $)	12 Months Ended		0 Months Ended			3 Months Ended	1 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Mar. 02, 2015	Feb. 02, 2015	Jan. 02, 2015	Feb. 28, 2015	Apr. 30, 2015	Mar. 31, 2015
Subsequent Event [Line Items]
Gross amount of distribution paid	$16,742
Distribution reinvestment plan (DRIP), value	7,162	0
Net cash distribution	6,535	0
Common stock, par value	$0.01	$0.01
Dividend Paid [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Gross amount of distribution paid			3,089	3,210	3,045
Distribution reinvestment plan (DRIP), value			1,621	1,674	1,588
Net cash distribution			$1,468	$1,536	$1,457
Common stock, distributions per share daily rate						$0.00
Dividend Declared [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock, distributions per share daily rate							$0.00	$0.00
Common stock, par value							$0.01	$0.01

Subsequent_Events_Details_Agre

Subsequent Events (Details) - Agreements (Subsequent Event [Member])	0 Months Ended	1 Months Ended
	Jan. 22, 2015	Jan. 21, 2015
Subsequent Event [Member]
Subsequent Event [Line Items]
New advisory agreement, termination notice, days	30 days
Assignment of fees to Sub-advisor for advisory services, percentage	85.00%	77.50%

Subsequent_Events_Details_Acqu

Subsequent Events (Details) - Acquisitions (Subsequent Event [Member], USD $)	0 Months Ended
In Thousands, unless otherwise specified	Jan. 30, 2015	Feb. 09, 2015	Feb. 11, 2015	Feb. 27, 2015
Wllimantic Plaza [Member]
Business Acquisition [Line Items]
Purchase price	$12,400
Square footage	128,766
Lease % rentable square feet at acquisition	99.00%
Harvest Plaza [Member]
Business Acquisition [Line Items]
Purchase price		7,960
Square footage		75,866
Lease % rentable square feet at acquisition		100.00%
North Point Landing [Member]
Business Acquisition [Line Items]
Purchase price			30,910
Square footage			152,767
Lease % rentable square feet at acquisition			94.60%
Oakhurst Plaza [Member]
Business Acquisition [Line Items]
Purchase price				$6,310
Square footage				51,502
Lease % rentable square feet at acquisition				84.00%

Schedule_III_Real_Estate_Asset1

Schedule III - Real Estate Assets and Accumulated Depreciation (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$28,320
Initial Cost, Land and Improvements	103,350	[1]
Initial Cost, Buildings and Improvements	204,190	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	932
Carrying Amount, Land and Improvements	103,612	[2]
Carrying Amount, Buildings and Improvements	204,860	[2]
Carrying Amount, Total	308,472	[2],[3]	0	0
Accumulated Depreciation	2,452	[4]	0	0
Bethany Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	4,833	[1]
Initial Cost, Buildings and Improvements	5,474	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	86
Carrying Amount, Land and Improvements	4,892	[2]
Carrying Amount, Buildings and Improvements	5,501	[2]
Carrying Amount, Total	10,393	[2],[3]
Accumulated Depreciation	215	[4]
Date Acquired	14-Mar-14
Staunton Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,451
Initial Cost, Land and Improvements	4,311	[1]
Initial Cost, Buildings and Improvements	10,035	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	82
Carrying Amount, Land and Improvements	4,355	[2]
Carrying Amount, Buildings and Improvements	10,073	[2]
Carrying Amount, Total	14,428	[2],[3]
Accumulated Depreciation	293	[4]
Date Acquired	30-Apr-14
Northpark Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	1,467	[1]
Initial Cost, Buildings and Improvements	6,212	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	172
Carrying Amount, Land and Improvements	1,564	[2]
Carrying Amount, Buildings and Improvements	6,287	[2]
Carrying Amount, Total	7,851	[2],[3]
Accumulated Depreciation	110	[4]
Date Acquired	25-Jul-14
Spring Cypress Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	8,219	[1]
Initial Cost, Buildings and Improvements	11,731	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	266
Carrying Amount, Land and Improvements	8,235	[2]
Carrying Amount, Buildings and Improvements	11,981	[2]
Carrying Amount, Total	20,216	[2],[3]
Accumulated Depreciation	237	[4]
Date Acquired	30-Jul-14
Kipling Marketplace [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	3,108	[1]
Initial Cost, Buildings and Improvements	8,547	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	144
Carrying Amount, Land and Improvements	3,131	[2]
Carrying Amount, Buildings and Improvements	8,668	[2]
Carrying Amount, Total	11,799	[2],[3]
Accumulated Depreciation	162	[4]
Date Acquired	7-Aug-14
Lake Washington Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	3,617	[1]
Initial Cost, Buildings and Improvements	9,121	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	6
Carrying Amount, Land and Improvements	3,623	[2]
Carrying Amount, Buildings and Improvements	9,121	[2]
Carrying Amount, Total	12,744	[2],[3]
Accumulated Depreciation	164	[4]
Date Acquired	15-Aug-14
MetroWest Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	4,665	[1]
Initial Cost, Buildings and Improvements	12,528	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	28
Carrying Amount, Land and Improvements	4,665	[2]
Carrying Amount, Buildings and Improvements	12,556	[2]
Carrying Amount, Total	17,221	[2],[3]
Accumulated Depreciation	193	[4]
Date Acquired	20-Aug-14
Kings Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	4,064	[1]
Initial Cost, Buildings and Improvements	8,918	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	17
Carrying Amount, Land and Improvements	4,080	[2]
Carrying Amount, Buildings and Improvements	8,919	[2]
Carrying Amount, Total	12,999	[2],[3]
Accumulated Depreciation	138	[4]
Date Acquired	26-Aug-14
Commonwealth Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,143
Initial Cost, Land and Improvements	6,811	[1]
Initial Cost, Buildings and Improvements	12,962	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	37
Carrying Amount, Land and Improvements	6,811	[2]
Carrying Amount, Buildings and Improvements	12,999	[2]
Carrying Amount, Total	19,810	[2],[3]
Accumulated Depreciation	191	[4]
Date Acquired	2-Oct-14
Colonial Promenade [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	9,132	[1]
Initial Cost, Buildings and Improvements	21,733	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	59
Carrying Amount, Land and Improvements	9,132	[2]
Carrying Amount, Buildings and Improvements	21,792	[2]
Carrying Amount, Total	30,924	[2],[3]
Accumulated Depreciation	293	[4]
Date Acquired	10-Oct-14
Point Loomis [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	4,380	[1]
Initial Cost, Buildings and Improvements	8,145	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	0
Carrying Amount, Land and Improvements	4,380	[2]
Carrying Amount, Buildings and Improvements	8,145	[2]
Carrying Amount, Total	12,525	[2],[3]
Accumulated Depreciation	67	[4]
Date Acquired	21-Oct-14
Hilander Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	2,293	[1]
Initial Cost, Buildings and Improvements	6,637	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	0
Carrying Amount, Land and Improvements	2,294	[2]
Carrying Amount, Buildings and Improvements	6,636	[2]
Carrying Amount, Total	8,930	[2],[3]
Accumulated Depreciation	85	[4]
Date Acquired	22-Oct-14
Milan Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	854	[1]
Initial Cost, Buildings and Improvements	1,760	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	33
Carrying Amount, Land and Improvements	854	[2]
Carrying Amount, Buildings and Improvements	1,793	[2]
Carrying Amount, Total	2,647	[2],[3]
Accumulated Depreciation	49	[4]
Date Acquired	22-Oct-14
Laguna 99 Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	5,264	[1]
Initial Cost, Buildings and Improvements	12,298	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	1
Carrying Amount, Land and Improvements	5,264	[2]
Carrying Amount, Buildings and Improvements	12,299	[2]
Carrying Amount, Total	17,563	[2],[3]
Accumulated Depreciation	99	[4]
Date Acquired	10-Nov-14
Southfield Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	5,307	[1]
Initial Cost, Buildings and Improvements	12,781	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	0
Carrying Amount, Land and Improvements	5,307	[2]
Carrying Amount, Buildings and Improvements	12,781	[2]
Carrying Amount, Total	18,088	[2],[3]
Accumulated Depreciation	54	[4]
Date Acquired	18-Nov-14
Shasta Crossroads [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	5,818	[1]
Initial Cost, Buildings and Improvements	19,148	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	1
Carrying Amount, Land and Improvements	5,818	[2]
Carrying Amount, Buildings and Improvements	19,149	[2]
Carrying Amount, Total	24,967	[2],[3]
Accumulated Depreciation	70	[4]
Date Acquired	25-Nov-14
Spivey Junction [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	4,359	[1]
Initial Cost, Buildings and Improvements	7,179	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	0
Carrying Amount, Land and Improvements	4,359	[2]
Carrying Amount, Buildings and Improvements	7,179	[2]
Carrying Amount, Total	11,538	[2],[3]
Accumulated Depreciation	32	[4]
Date Acquired	5-Dec-14
Quivira Crossings [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,726
Initial Cost, Land and Improvements	6,104	[1]
Initial Cost, Buildings and Improvements	9,305	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	0
Carrying Amount, Land and Improvements	6,104	[2]
Carrying Amount, Buildings and Improvements	9,305	[2]
Carrying Amount, Total	15,409	[2],[3]
Accumulated Depreciation	0	[4]
Date Acquired	16-Dec-14
Plaza Farmington [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	8,564	[1]
Initial Cost, Buildings and Improvements	6,074	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	0
Carrying Amount, Land and Improvements	8,564	[2]
Carrying Amount, Buildings and Improvements	6,074	[2]
Carrying Amount, Total	14,638	[2],[3]
Accumulated Depreciation	0	[4]
Date Acquired	22-Dec-14
Crossroads of Shakopee [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost, Land and Improvements	10,180	[1]
Initial Cost, Buildings and Improvements	13,602	[1]
Costs Capitalized Subsequent to Acquisition, Improvements	0
Carrying Amount, Land and Improvements	10,180	[2]
Carrying Amount, Buildings and Improvements	13,602	[2]
Carrying Amount, Total	23,782	[2],[3]
Accumulated Depreciation	$0	[4]
Date Acquired	22-Dec-14
[1]	The initial cost to us represents the original purchase price of the property, including amounts incurred subsequent to acquisition which were contemplated at the time the property was acquired.
[2]	The aggregate cost of real estate owned at December 31, 2014.
[3]	Reconciliation of real estate owned:
[4]	Reconciliation of accumulated depreciation:

Schedule_III_Real_Estate_Asset2

Schedule III - Real Estate Assets and Accumulated Depreciation (Details) - Schedule III, Reconciliation of Real Estate Owned (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at January 1	$0		$0
Real estate acquisitions	307,540		0
Additions to/improvements of real estate	932		0
Balance at December 31	$308,472	[1],[2]	$0
[1]	Reconciliation of real estate owned:
[2]	The aggregate cost of real estate owned at December 31, 2014.

Schedule_III_Real_Estate_Asset3

Schedule III - Real Estate Assets and Accumulated Depreciation Reconciliation of Real Estate Accumulated Depreciation (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at January 1	$0		$0
Depreciation expense	2,452		0
Balance at December 31	$2,452	[1]	$0
[1]	Reconciliation of accumulated depreciation: