City Office REIT (CIO) 10-K 1 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Feb. 23, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Trading Symbol	CIO
Entity Registrant Name	City Office REIT, Inc.
Entity Central Index Key	1,593,222
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		36,118,163
Entity Public Float			$ 374.5

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Real estate properties
Land	$ 188,110	$ 115,634
Building and improvement	534,473	423,707
Tenant improvement	53,427	49,813
Furniture, fixtures and equipment	291	222
Real estate properties, gross	776,301	589,376
Accumulated depreciation	(48,234)	(39,052)
Real estate properties, net	728,067	550,324
Cash and cash equivalents	12,301	13,703
Restricted cash	22,713	15,948
Rents receivable, net	20,087	17,257
Deferred leasing costs, net	7,793	5,422
Acquired lease intangible assets, net	65,088	56,214
Prepaid expenses and other assets	2,013	2,626
Assets held for sale	38,427
Total Assets	896,489	661,494
Liabilities:
Debt	489,509	370,057
Accounts payable and accrued liabilities	17,605	12,976
Deferred rent	4,223	5,558
Tenant rent deposits	3,523	2,621
Acquired lease intangible liabilities, net	8,649	4,302
Dividend distributions payable	10,318	7,521
Earn-out liability		2,400
Liabilities related to assets held for sale	2,830
Total Liabilities	536,657	405,435
Commitments and Contingencies (Note 10)
Equity:
6.625% Series A Preferred stock, $0.01 par value per share, 5,600,000 and 4,600,000 shares authorized as of December 31, 2017 and 2016, respectively, 4,480,000 issued and outstanding	112,000	112,000
Common stock, $0.01 par value, 100,000,000 shares authorized, 36,012,086 and 24,382,226 shares issued and outstanding as of December 31, 2017 and December 31, 2016 respectively	360	244
Additional paid-in capital	334,241	195,566
Accumulated deficit	(86,977)	(53,608)
Total Stockholders' Equity	359,624	254,202
Operating Partnership unitholders' non-controlling interests		108
Non-controlling interests in properties	208	1,749
Total Equity	359,832	256,059
Total Liabilities and Equity	$ 896,489	$ 661,494

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, Dividend rate percentage	6.625%	6.625%
Preferred stock, par value per share	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,600,000	4,600,000
Preferred stock, shares issued	4,480,000	4,480,000
Preferred stock, shares outstanding	4,480,000	4,480,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	36,012,086	24,382,226
Common stock, shares outstanding	36,012,086	24,382,226

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Rental income	$ 92,357	$ 63,702	$ 48,009
Expense reimbursement	11,164	7,140	5,808
Other	2,966	1,619	1,235
Total Revenues	106,487	72,461	55,052
Operating Expenses:
Property operating expenses	42,886	28,305	20,420
General and administrative	6,792	6,429	3,728
Base management fee		109	1,302
External advisor acquisition		7,045	492
Acquisition costs		692	2,959
Depreciation and amortization	41,594	30,178	21,624
Total Operating Expenses	91,272	72,758	50,525
Operating income/(loss)	15,215	(297)	4,527
Interest Expense:
Contractual interest expense	(18,721)	(13,804)	(10,607)
Amortization of deferred financing costs	(1,452)	(957)	(746)
Interest expense, net	(20,173)	(14,761)	(11,353)
Change in fair value of earn-out		(500)	(841)
Change in fair value of contingent consideration	2,000
Net gain on sale of real estate property	12,116	15,934
Net income/(loss)	9,158	376	(7,667)
Net income attributable to non-controlling interests in properties	(3,402)	(354)	(500)
Net (income)/loss attributable to Operating Partnership unitholders' non-controlling interests		(865)	1,576
Net income/(loss) attributable to the Company	5,756	(843)	(6,591)
Preferred stock distributions	(7,411)	(1,781)
Net loss attributable to common stockholders	$ (1,655)	$ (2,624)	$ (6,591)
Net loss per common share and unit:
Basic and diluted	$ (0.05)	$ (0.13)	$ (0.53)
Weighted average common shares outstanding:
Basic and diluted	30,198	20,460	12,409
Dividend distributions declared per common share and unit	$ 0.940	$ 0.940	$ 0.940

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total stockholders' equity [Member]	Operating Partnership Unitholders' Non-controlling Interests [Member]	Non-controlling Interests in Properties [Member]
Beginning balance at Dec. 31, 2014	$ 91,235		$ 123	$ 91,308	$ (11,320)	$ 80,111	$ 11,878	$ (754)
Beginning balance, shares at Dec. 31, 2014			12,279,000
Conversion of OP units to shares, values				47		47	(47)
Conversion of OP units to shares, shares			12,000
Restricted stock award grants and vesting, values	1,907		$ 1	1,906		1,907
Restricted stock award grants and vesting, shares			137,000
Earn out payment in shares, values	3,163		$ 1	2,057		2,058	1,105
Earn out payment in shares, shares			90,000
Common stock dividend distributions declared	(14,497)				(11,687)	(11,687)	(2,810)
Distributions	(421)							(421)
Net (loss)/income	(7,667)				(6,591)	(6,591)	(1,576)	500
Ending balance at Dec. 31, 2015	73,720		$ 125	95,318	(29,598)	65,845	8,550	(675)
Ending balance, shares at Dec. 31, 2015			12,518,000
Conversion of OP units to shares, values			$ 32	10,754		10,786	(10,786)
Conversion of OP units to shares, shares			3,206,000
Restricted stock award grants and vesting, values	2,436		$ 2	2,434		2,436
Restricted stock award grants and vesting, shares			164,000
Internalization payment in shares, values	3,464		$ 3	3,461		3,464
Internalization payment in shares, shares			297,000
Earn out payment in shares, values	3,778		$ 2	767		769	3,009
Earn out payment in shares, shares			147,000
Net proceeds from sale of common stock, values	86,785		$ 80	86,705		86,785
Net proceeds from sale of common stock, shares			8,050,000
Net proceeds from sale of preferred stock, values	108,127	$ 112,000		(3,873)		108,127
Net proceeds from sale of preferred stock, shares		4,480,000
Common stock dividend distributions declared	(22,916)				(21,386)	(21,386)	(1,530)
Preferred stock dividend distributions declared	(1,781)				(1,781)	(1,781)
Contributions	2,525							2,525
Distributions	(455)							(455)
Net (loss)/income	376				(843)	(843)	865	354
Ending balance at Dec. 31, 2016	$ 256,059	$ 112,000	$ 244	195,566	(53,608)	254,202	108	1,749
Ending balance, shares at Dec. 31, 2016	24,382,226	4,480,000	24,382,000
Conversion of OP units to shares, values				108		108	$ (108)
Conversion of OP units to shares, shares			40,000
Restricted stock award grants and vesting, values	$ 1,671		$ 1	1,741	(71)	1,671
Restricted stock award grants and vesting, shares			90,000
Net proceeds from sale of common stock, values	136,941		$ 115	136,826		136,941
Net proceeds from sale of common stock, shares			11,500,000
Common stock dividend distributions declared	(31,148)				(31,148)	(31,148)
Preferred stock dividend distributions declared	(7,906)				(7,906)	(7,906)
Distributions	(4,943)							(4,943)
Net (loss)/income	9,158				5,756	5,756		3,402
Ending balance at Dec. 31, 2017	$ 359,832	$ 112,000	$ 360	$ 334,241	$ (86,977)	$ 359,624		$ 208
Ending balance, shares at Dec. 31, 2017	36,012,086	4,480,000	36,012,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash Flows from Operating Activities:
Net income/(loss)	$ 9,158	$ 376	$ (7,667)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Depreciation and amortization	41,594	30,178	21,624
Amortization of deferred financing costs	1,452	957	746
Amortization of above/below market leases	(337)	299	349
Increase in straight-line rent	(2,820)	(3,751)	(1,895)
Non-cash stock compensation	1,671	2,436	1,907
Earn-out termination payment	(2,400)	500	841
Internalization shares issued		3,464
Net gain on sale of real estate property	(12,116)	(15,934)
Changes in non-cash working capital:
Rents receivable, net	(1,647)	(4,331)	(4,506)
Prepaid expenses and other assets	349	(587)	(648)
Accounts payable and accrued liabilities	670	3,135	2,988
Deferred rent	324	2,743	440
Tenant rent deposits	655	(338)	(16)
Net Cash Provided By Operating Activities	36,553	19,147	14,163
Cash Flows to Investing Activities:
Additions to real estate properties	(8,189)	(8,729)	(5,466)
Acquisition of real estate	(249,299)	(248,957)	(166,788)
Net proceeds from sale of real estate	16,993	42,984
Deferred leasing costs	(4,289)	(2,074)	(3,217)
Net Cash Used In Investing Activities	(244,784)	(216,776)	(175,471)
Cash Flows from Financing Activities:
Net proceeds from sale of preferred stock		108,127
Net proceeds from sale of common stock	136,941	86,785
Debt issuance and extinguishment costs	(1,716)	(2,414)	(1,239)
Proceeds from mortgage loans payable	166,340	47,938	105,813
Repayment of mortgage loans payable	(27,772)	(20,199)	(1,082)
Proceeds from Secured Credit Facility	226,000	95,500	51,600
Repayment of Secured Credit Facility	(245,000)	(93,000)	(1,600)
Contributions from non-controlling interests in properties		2,525
Distributions to non-controlling interests in properties	(4,943)	(455)	(421)
Dividend distributions paid to stockholders and Operating Partnership unitholders	(36,256)	(20,841)	(14,404)
Change in restricted cash	(6,765)	(772)	(4,083)
Net Cash Provided By Financing Activities	206,829	203,194	134,584
Net (Decrease)/Increase in Cash and Cash Equivalents	(1,402)	5,565	(26,724)
Cash and Cash Equivalents, Beginning of Year	13,703	8,138	34,862
Cash and Cash Equivalents, End of Year	12,301	13,703	8,138
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	18,408	13,621	10,030
Earn-out payment in common stock		3,778	3,163
Purchases of additions in real estate properties included in accounts payable	2,616	1,565	$ 1,289
Purchases of deferred leasing costs included in accounts payable	$ 815	$ 19

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business City Office REIT, Inc. (the “Company”) was organized in the state of Maryland on November 26, 2013. On April 21, 2014, the Company completed its initial public offering (“IPO”) of shares of the Company’s common stock. The Company contributed the net proceeds of the IPO to City Office REIT Operating Partnership, L.P., a Maryland limited partnership (the “Operating Partnership”), in exchange for common units of limited partnership interest in the Operating Partnership (“common units”). The Company’s interest in the Operating Partnership entitles the Company to share in distributions from, and allocations of profits and losses of, the Operating Partnership in proportion to the Company’s percentage ownership of common units. As the sole general partner of the Operating Partnership, the Company has the exclusive power under the Operating Partnership’s partnership agreement to manage and conduct the Operating Partnership’s business, subject to limited approval and voting rights of the limited partners. The Company has elected to be taxed and will continue to operate in a manner that will allow it to continue to qualify as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). Subject to qualification as a REIT, the Company will be permitted to deduct dividend distributions paid to its stockholders, eliminating the U.S. federal taxation of income represented by such distributions at the Company level. REITs are subject to a number of organizational and operational requirements. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal and state income tax on its taxable income at regular corporate tax rates and any applicable alternative minimum tax. On February 1, 2016, the Company closed on the previously announced management internalization (“the Internalization”). The Company had previously entered into a Stock Purchase Agreement (“Stock Purchase Agreement”) with certain stockholders of the Company’s former external advisor, City Office Real Estate Management Inc. (the “Former Advisor”), pursuant to which the Company acquired all of the outstanding stock of the Former Advisor. Pursuant to this Stock Purchase Agreement, at closing, the Company issued 297,321 shares of its common stock with a fair market value of $3.5 million to the stockholders of the Former Advisor (the “Sellers”). The Company paid an additional $3.5 million in cash in the first quarter of 2016 representing payments to be made to the Sellers upon reaching certain fully diluted market capitalization thresholds prior to December 31, 2016, which, together with the initial payment, resulted in a total cost of $7.0 million in the year ended December 31, 2016. The amount was recorded as an expense in the consolidated statements of operations as it represented the cost of terminating the relationship. In connection with the closing of the Internalization, the Company entered into an amendment to the Advisory Agreement between the Company, the Operating Partnership and the Former Advisor (“Advisory Agreement”) that eliminates the payment of acquisition fees by the Company to the Former Advisor. In addition, each of the Company’s executive officers entered into an employment agreement with the Company and became employees of the Company, and, at the same time, approximately eleven additional former employees of the Former Advisor and its affiliates became employees of the Company. In connection with the closing of the transactions under the Stock Purchase Agreement, a subsidiary of the Company entered into an Administrative Services Agreement (the “Administrative Services Agreement”) with Second City Capital II Corporation and Second City Real Estate II Corporation (“Second City”). The Administrative Services Agreement has a three year term and pursuant to the agreement, the Company will provide various administrative services and support to the related entities managing the Second City funds. The Company’s subsidiary will receive annual payments for these services under the Administrative Services Agreement as follows: first 12 months—$1.5 million, second 12 months—$1.15 million and third 12 months—$0.625 million, for a total of $3.275 million over the three-year term.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Preparation and Summary of Significant Accounting Policies The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the financial position and results of operations of the Company, the Operating Partnership and its subsidiaries. All significant intercompany transactions and balances have been eliminated on consolidation. Use of Estimates The Company has made a number of significant estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses to prepare these consolidated financial statements in conformity with GAAP. Significant estimates made include the recoverability of accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, the determination of impairment of long-lived assets and the useful lives of long-lived assets. These estimates and assumptions are based on our best estimates and judgment. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management adjusts such estimates when facts and circumstances dictate. Actual results could differ materially from those estimates. Cash and Cash Equivalents Cash and cash equivalents include unrestricted cash and short-term investments with a maturity date of less than three months when acquired. Restricted Cash Restricted cash consists of cash held in escrow by lenders pursuant to certain lender agreements and cash received from contracted building sales. Rent Receivable, Net The Company continuously monitors collections from tenants and makes a provision for estimated losses based upon historical experience and any specific tenant collection issues that the Company has identified. Business Combinations When a property is acquired, management considers the substance of the agreement in determining whether the acquisition represents an asset acquisition or a business combination. Upon acquisitions of properties that constitutes a business, the fair value of the real estate acquired, which includes the impact of fair value adjustments for assumed mortgage debt related to property acquisitions, is allocated to the acquired tangible assets, consisting of land, buildings and improvements and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place non-controlling The fair value of the tangible assets of an acquired property (which includes land, buildings and improvements and fixtures and equipment) is determined by valuing the property as if it were vacant. The “as-if-vacant” lease-up lease-up The fair value of above-market and below-market lease values are recorded based on the difference between the current in-place non-cancelable non-cancelable The fair value of acquired in-place lease-up in-place Revenue Recognition The Company recognizes lease revenue on a straight-line basis over the term of the lease. Certain leases allow for the tenant to terminate the lease, but the tenant must make a termination payment as stipulated in the lease. If the termination payment is in such an amount that continuation of the lease appears, at the time of lease inception, to be reasonably assured, then the Company recognizes revenue over the term of the lease. The Company has determined that for these leases, the termination payment is in such an amount that continuation of the lease appears, at the time of inception, to be reasonably assured. The Company recognizes lease termination fees as revenue in the period received and writes off unamortized lease-related intangible and other lease-related account balances, provided there are no further Company obligations under the lease. Otherwise, such fees and balances are recognized on a straight-line basis over the remaining obligation period with the termination payments being recorded as a component of rent receivable-deferred or deferred revenue on the consolidated balance sheets. If the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. If the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. The lease incentive is recorded as a deferred expense and amortized as a reduction of revenue on a straight-line basis over the respective lease term. Recoveries from tenants for real estate taxes, insurance and other operating expenses are recognized as revenues in the period that the applicable costs are incurred. The Company recognizes differences between estimated recoveries and the final billed amounts in the subsequent year. Final billings to tenants for real estate taxes, insurance and other operating expenses did not vary significantly as compared to the estimated receivable balances. Real Estate Properties Real estate properties are stated at cost less accumulated depreciation, except land. Depreciation is computed on the straight-line basis over estimated useful lives of: Years Buildings and improvement 29-50 Site improvement 4-23 Furniture, fixtures and equipment 4-7 Expenditures for maintenance and repairs are charged to operations as incurred. Impairment of Real Estate Properties Long-lived assets currently in use are reviewed periodically for possible impairment and will be written down to fair value if considered impaired. Long-lived assets, to be disposed of, are written down to the lower of cost or fair value less the estimated cost to sell. The Company reviews its real estate properties for impairment when there is an event or a change in circumstances that indicates that the carrying amount may not be recoverable. The Company measures and records impairment losses and reduces the carrying value of properties when indicators of impairment are present and the expected undiscounted cash flows related to those properties are less than their carrying amounts. In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying costs to fair value. Variable Interest Entities The Company consolidates variable interest entities (“VIE”) if the Company determines that it is the primary beneficiary of the entity. When evaluating the accounting for a VIE, the Company considers the purpose for which the VIE was created, the importance of each of the activities in which it is engaged and our decision-making role, if any, in those activities that significantly determine the entity’s economic performance relative to other economic interest holders. The Company determines the rights, if any, to receive benefits or the obligation to absorb losses that could potentially be significant to the VIE by considering the economic interest in the entity, regardless of form, which may include debt, equity, management and servicing fees, or other contractual arrangements. The Company considers other relevant factors including each entity’s capital structure, contractual rights to earnings (losses), subordination of the Company’s interests relative to those of other investors, contingent payments, and other contractual arrangements that may be economically significant. Concentration of Credit Risk The Company places its temporary cash investments in high credit financial institutions. However, a portion of temporary cash investments may exceed FDIC insured levels from time to time. The Company has never experienced any losses related to these balances. Income Taxes The Company has elected to be taxed, and intends to continue to operate in a manner that will allow it to continue to qualify, as a REIT. To qualify as a REIT, the Company is required to distribute dividends equal to at least 90% of its REIT taxable income (computed without regard to the deduction for dividends paid and excluding net capital gains) to its stockholders, and meet the various other requirements imposed by the Code relating to matters such as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided the Company qualifies for taxation as a REIT, it is generally not subject to U.S. federal corporate-level income tax on the earnings distributed currently to its stockholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal and state income tax on its taxable income at regular corporate tax rates and any applicable alternative minimum tax. In addition, the Company may not be able to re-elect Non-controlling The Company follows the provisions pertaining to non-controlling non-controlling non-controlling non-controlling As of December 31, 2017, and 2016, the Company held a 100% and 99.8% interest, respectively, in the Operating Partnership. As the sole general partner and the majority interest holder, the Company consolidates the financial position and results of operations of the Operating Partnership. Equity-Based Compensation The Company accounts for equity-based compensation, including shares of restricted stock units, in accordance with ASC Topic 718 Compensation – Stock Compensation, which requires the Company to recognize an expense for the fair value of equity-based awards. The estimated fair value of restricted stock units is amortized over their respective vesting periods. Earnings per Common Share The Company calculates net income per common share based upon the weighted average shares outstanding for the years ended December 31, 2017, December 31, 2016 and December 31, 2015. Diluted earnings per share is calculated after giving effect to all potential dilutive shares outstanding during the period. There were 0, 40,001, and 3,070,405 potentially dilutive shares outstanding related to the issuance of common units held by non-controlling Derivative Instruments and Hedging Activities The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. The Company has not elected to designate any instruments as a hedge. Fair Value of Financial Instruments ASC 820-10, 820-10”) Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, which is typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Deferred Leasing Costs Fees and costs paid in the successful negotiation of leases are deferred and amortized on a straight-line basis over the terms of the respective leases. Segment Reporting The Company operates in one industry segment, commercial real estate. New Accounting Pronouncements Adopted in the Current Year In January of 2017, the FASB issued ASU 2017-01, To Be Adopted in Future Years In May 2014, the FASB issued ASU 2014-09, In January 2016, the FASB issued ASU 2016-01, 825-10). 2016-01 2016-01 In February 2016, the FASB issued ASU 2016-02, 2016-02 2016-02 non-lease non-lease non-lease In August 2016, the FASB issued ASU 2016-15, In November 2016, the FASB issued ASU 2016-18,

Rents Receivable, Net

Rents Receivable, Net	12 Months Ended
	Dec. 31, 2017
Text Block [Abstract]
Rents Receivable, Net	3. Rents Receivable, Net The Company’s rents receivable is comprised of the following components (in thousands): December 31, December 31, Billed receivables $ 1,905 $ 2,024 Straight-line receivables 18,182 15,233 Total rents receivable $ 20,087 $ 17,257 As of December 31, 2017, and 2016, the Company’s allowance for doubtful accounts was not significant.

Real Estate Investments

Real Estate Investments	12 Months Ended
	Dec. 31, 2017
Real Estate [Abstract]
Real Estate Investments	4. Real Estate Investments Acquisitions During the years ended December 31, 2017, December 31, 2016 and December 31, 2015 the Company acquired the following properties: Property Date Acquired Percentage Owned Papago Tech October 2017 100 % Mission City and Sorrento Mesa September 2017 100 % 2525 McKinnon January 2017 100 % SanTan December 2016 100 % 5090 N 40th St November 2016 100 % Park Tower November 2016 95 % FRP Collection July 2016 95 % Carillon Point June 2016 100 % Intellicenter September 2015 100 % 190 Office Center September 2015 100 % DTC Crossroads June 2015 100 % Superior Pointe June 2015 100 % Logan Tower February 2015 100 % Papago Tech, Mission City, Sorrento Mesa, and 2525 McKinnon have been accounted for as asset acquisitions. SanTan, 5090 N 40th St, Park Tower, FRP Collection, Carillon Point, Intellicenter, 190 Office Center, DTC Crossroads, Superior Pointe and Logan Tower were accounted for as business combinations. The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the year ended December 31, 2017 (in thousands): 2525 Mission Papago Total December 31, Land $ 10,629 $ 66,097 $ 10,746 $ 87,472 Buildings and improvements 33,357 78,072 17,469 128,898 Tenant improvements 1,158 8,393 2,293 11,844 Acquired intangible assets 3,267 22,846 2,816 28,929 Prepaid expenses and other assets — 140 10 150 Accounts payable and other liabilities (190 ) (1,507 ) (246 ) (1,943 ) Lease intangible liabilities (2,186 ) (3,766 ) (99 ) (6,051 ) Total Consideration $ 46,035 $ 170,275 $ 32,989 $ 249,299 Consideration paid on acquisitions was in the form of cash and debt. The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the year ended December 31, 2016 (in thousands): Carillon FRP Park 5090 N SanTan Total Land $ 5,172 $ 7,031 $ 3,484 $ 6,696 $ 6,803 $ 29,186 Buildings and improvements 14,500 36,480 66,967 31,465 35,202 184,614 Tenant improvements 2,816 2,219 1,689 658 1,984 9,366 Acquired intangible assets 3,851 3,932 8,324 3,616 10,284 30,007 Prepaid expenses and other assets 73 101 307 — — 481 Accounts payable and other liabilities (217 ) (532 ) (296 ) (448 ) (544 ) (2,037 ) Lease intangible liabilities (353 ) — (773 ) (604 ) (930 ) (2,660 ) Total Consideration $ 25,842 $ 49,231 $ 79,702 $ 41,383 $ 52,799 $ 248,957 The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the year ended December 31, 2015 (in thousands): Logan Superior DTC 190 Intellicenter Total December 31, Land $ 1,306 $ 3,153 $ 7,137 $ 7,162 $ 5,244 $ 24,002 Buildings and improvements 7,844 19,250 22,545 39,367 31,359 120,365 Tenant improvements 353 584 638 323 2,919 4,817 Acquired intangible assets 1,274 2,866 4,152 5,673 7,742 21,707 Prepaid expenses and other assets — 24 — 64 — 88 Accounts payable and other liabilities (48 ) (316 ) (605 ) (720 ) (321 ) (2,010 ) Lease intangible liabilities (306 ) (53 ) (353 ) (805 ) (664 ) (2,181 ) Total Consideration $ 10,423 $ 25,508 $ 33,514 $ 51,064 $ 46,279 $ 166,788 The operating results of acquired properties meeting the definition of a business, during the years ended December 31, 2016 and December 31, 2015, since the date of acquisition have been included in the Company’s consolidated financial statements. Properties acquired in 2017 were accounted for as asset acquisitions pursuant to ASU 2017-01. Year ended Year ended Operating revenues $ 7,215 $ 10,047 Operating expenses (7,433 ) (9,957 ) Interest (589 ) (1,192 ) $ (807 ) $ (1,102 ) Sale of Real Estate Property On May 2, 2017, the Company sold the 1400 and 1600 buildings at the AmberGlen property in Portland, Oregon, and its related assets and liabilities, for a sales price of $18.9 million, resulting in an aggregate net gain of $12.1 million, net of $2.0 million in costs, which has been classified as net gain on sale of real estate property in the consolidated statements of operations. In connection with the sale of the property, certain debt repayments were made. In accordance with ASU 2014-08, On June 15, 2016, the Company sold the Corporate Parkway property in Allentown, Pennsylvania, and its related assets and liabilities, for a sales price of $44.9 million, resulting in an aggregate net gain of $15.9 million, net of $2.0 million in costs, which has been classified as net gain on sale of real estate property in the consolidated statements of operations. In connection with the sale of the property, certain debt repayments were made. In accordance with ASU 2014-08, tax-deferred Assets Held for Sale On September 21, 2016, we entered into a Purchase and Sale agreement to sell the Washington Group Plaza property for $86.5 million. The transaction is anticipated to close in March 2018, subject to customary closing conditions. In accordance with ASU 2014-08, non-refundable The property has been classified as held for sale as of December 31, 2017 (in thousands): December 31, 2017 Washington Real estate properties, net $ 34,543 Deferred leasing costs, net 1,295 Acquired lease intangible assets, net 817 Rents receivable, prepaid expenses and other assets 1,772 Assets held for sale $ 38,427 Acquired lease intangibles liabilities, net (2 ) Accounts payable, accrued expenses, deferred rent and tenant rent deposits (2,828 ) Liabilities related to assets held for sale $ (2,830 ) Variable Interest Entities As of December 31, 2017, the Company had entered into a purchase and sale transaction in accordance with Section 1031 of the Internal Revenue Code of 1986, as amended, for the exchange of like-kind property to defer taxable gains on the sale of properties (“1031 Exchange”). For reverse transactions under a 1031 Exchange in which the Company purchases new properties prior to selling the property to be matched in the like-kind exchange, legal title to the new properties is held by a Qualified Intermediary engaged to execute the 1031 Exchange until the sale transaction and the 1031 Exchange is completed. The Company retains essentially all of the legal and economic benefits and obligations related to Mission City, Sorrento Mesa and Papago Tech prior to completion of the 1031 Exchanges. As such, Mission City, Sorrento Mesa and Papago Tech is included in our Consolidated Balance Sheets and Consolidated Statements of Operations as a VIE until legal title is transferred to us upon completion of the 1031 Exchange.

Lease Intangibles

Lease Intangibles	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Lease Intangibles	5. Lease Intangibles Lease intangibles and the value of assumed lease obligations as of December 31, 2017 and December 31, 2016 were comprised as follows (in thousands): Lease Intangible Assets Lease Intangible Liabilities December 31, 2017 Above In Place Leasing Total Below Below Total Cost $ 9,082 $ 71,426 $ 27,706 $ 108,214 $ (11,608 ) $ (138 ) $ (11,746 ) Accumulated amortization (3,215 ) (30,613 ) (9,298 ) (43,126 ) 3,065 32 3,097 $ 5,867 $ 40,813 $ 18,408 $ 65,088 $ (8,543 ) $ (106 ) $ (8,649 ) December 31, 2016 Above In Place Leasing Total Below Below Total Cost $ 7,796 $ 59,370 $ 25,693 $ 92,859 $ (5,587 ) $ (138 ) $ (5,725 ) Accumulated amortization (3,779 ) (24,384 ) (8,482 ) (36,645 ) 1,395 28 1,423 $ 4,017 $ 34,986 $ 17,211 $ 56,214 $ (4,192 ) $ (110 ) $ (4,302 ) The estimated aggregate amortization expense for lease intangibles for the five succeeding years and in the aggregate are as follows (in thousands): 2018 $ 15,984 2019 13,505 2020 11,585 2021 9,478 2022 3,187 Thereafter 2,700 $ 56,439

Debt

Debt	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt	6. Debt The following table summarizes the secured indebtedness as of December 31, 2017 and 2016 (in thousands): Property December 31, December 31, Interest Rate as of Maturity Secured Credit Facility (1) $ 33,500 $ 52,500 LIBOR +2.25 % (2) June 2018 Midland Life Insurance (3) 88,582 90,124 4.34 May 2021 Mission City 47,000 — 3.78 November 2027 190 Office Center (4) 41,250 41,250 4.79 October 2025 SanTan (4) 35,100 — 4.56 March 2027 Intellicenter (4) 33,563 33,563 4.65 October 2025 Washington Group Plaza (5) 32,290 32,995 3.85 July 2018 FRP Collection (4) 30,174 30,737 3.85 September 2023 2525 McKinnon 27,000 — 4.24 April 2027 5090 N 40 th 22,000 — 3.92 January 2027 AmberGlen (4) 20,000 — 3.69 May 2027 Lake Vista Pointe (5) 18,358 18,460 4.28 August 2024 FRP Ingenuity Drive (5)(6) 17,000 17,000 4.44 December 2024 Plaza 25 (4)(5) 16,882 17,000 4.10 July 2025 Carillon Point (4) 16,671 17,000 3.50 October 2023 Central Fairwinds (4) 15,107 — 4.00 June 2024 AmberGlen Mortgage Loan (7) — 24,280 — — Total Principal 494,477 374,909 Deferred financing costs, net (4,968 ) (4,852 ) Total $ 489,509 $ 370,057 All interest rates are fixed interest rates with the exception of the secured credit facility (“Secured Credit Facility”) as explained in footnote 1 below. (1) At December 31, 2017 the Secured Credit Facility had $150 million authorized and $33.5 million drawn. The Credit Agreement has a maturity date of June 26, 2018, which may be extended to June 26, 2019 at the Company’s option upon meeting certain conditions. The Secured Credit Facility requires the Company to maintain a fixed charge coverage ratio of no less than 1.60x. At December 31, 2017, the Secured Credit Facility was cross-collateralized by Logan Tower, Superior Pointe, Park Tower and Sorrento Mesa. On September 1, 2017, the Company exercised its option under the Secured Credit Facility to utilize the accordion feature to increase the authorized borrowing capacity under the Secured Credit Facility from $100 million to $150 million. During 2016 the authorized borrowing capacity was increased from $75 million to $100 million. (2) As of December 31, 2017, the one month LIBOR rate was 1.56%. (3) The mortgage loan is cross-collateralized by DTC Crossroads, Cherry Creek and City Center. Interest on mortgage loan is payable monthly plus principal based on 360 months of amortization. The loan bears a fixed interest rate of 4.34% and matures on May 6, 2021. Upon the sale of Corporate Parkway on June 15, 2016, $4 million of the loan was paid down and DTC Crossroads was substituted in as collateral property. (4) The Company has various covenants including debt service coverage ratios that under certain conditions must be maintained no less than 1.15x, 1.20x, 1.20x, 1.40x, 1.15x, 1.45x, 1.35x and 1.35x respectively for each of 190 Office Center, SanTan, Intellicenter, FRP Collection, AmberGlen, Plaza 25, Carillon Point and Central Fairwinds. The debt service coverage ratio covenants contained in the loan agreements for Plaza 25, which have not been met at December 31, 2017, allow for temporary relief from the debt service coverage ratio test if certain conditions are met or prepayment of debt service occurs according to a specified schedule. (5) Interest on mortgage loan is payable monthly plus principal based on 360 months of amortization. (6) The Company is required to maintain a minimum net worth of $17 million, minimum liquidity of $1.7 million and a debt service coverage ratio of no less than 1.15x. (7) On May 2, 2017, in conjunction with the sale of the 1400 and 1600 buildings at the AmberGlen property, the Company repaid the outstanding debt secured on the property of $24.1 million plus closing costs and subsequently closed on a $20 million loan secured by a first mortgage lien on the remaining buildings. The scheduled principal repayments of mortgage payable as of December 31, 2017 are as follows (in thousands): 2018 $ 69,705 2019 5,049 2020 6,086 2021 88,110 2022 4,772 Thereafter 320,755 Total $ 494,477

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	7. Fair Value of Financial Instruments Fair value measurements are based on assumptions that market participants would use in pricing an asset or a liability. The hierarchy for inputs used in measuring fair value is as follows: Level 1 Inputs – quoted prices in active markets for identical assets or liabilities Level 2 Inputs – observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3 Inputs – unobservable inputs As of December 31, 2017 and 2016, the Company did not have any hedges or derivatives. On February 15, 2017, the Company entered into a Termination and Mutual Release Agreement with Second City that terminated our obligation to make any future earn-out earn-out Cash and Cash Equivalents, Restricted Cash, Rents Receivable, Accounts Payable and Accrued Liabilities The Company estimates that the fair value approximates carrying value due to the relatively short-term nature of these instruments. Fair Value of Financial Instruments Not Carried at Fair Value With the exception of fixed rate mortgage loans payable, the carrying amounts of the Company’s financial instruments approximate their fair value. The Company determines the fair value of its fixed rate mortgage loan payable based on a discounted cash flow analysis using a discount rate that approximates the current borrowing rates for instruments of similar maturities. Based on this, the Company has determined that the fair value of these instruments was $462.3 million and $323.7 million as of December 31, 2017 and December 31, 2016, respectively. Accordingly, the fair value of mortgage loans payable have been classified as Level 3 fair value measurements.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions Administrative Services Agreement During the years ended December 31, 2017, 2016, and 2015, the Company earned $1.2 million, $1.4 million, and $0, respectively, in administrative services performed for Second City. Earn-Out During the years ended December 31, 2017 and 2016, payments of approximately $2.4 million and $3.8 million, respectively, were made to Second City under the Earn-Out Equity Transactions On February 1, 2016, the Company closed on the previously announced Internalization. The Company had previously entered into a Stock Purchase Agreement with certain stockholders of the Company’s Former Advisor pursuant to which the Company acquired all of the outstanding stock of the Former Advisor (see Note 1). On July 15, 2016, the Company issued a total of 3,126,084 shares of its common stock to certain limited partners of the Operating Partnership. The shares of common stock were issued in connection with Second City’s redemption of a total of 3,126,084 common units pursuant to the terms of the Operating Partnership’s amended and restated limited partnership agreement, as amended. Advisory and Transaction Fees During the years ended December 31, 2017, 2016, and 2015, the Company incurred $0, $0.1 million, and $3.0 million, respectively, in advisory and transaction fees payable to the Former Advisor for asset and property management services.

Future Minimum Rent Schedule

Future Minimum Rent Schedule	12 Months Ended
	Dec. 31, 2017
Leases [Abstract]
Future Minimum Rent Schedule	9. Future Minimum Rent Schedule Future minimum lease payments to be received as of December 31, 2017 under noncancellable operating leases for the next five years and thereafter are as follows (in thousands): 2018 $ 95,653 2019 85,981 2020 75,929 2021 66,196 2022 52,405 Thereafter 98,214 $ 474,378 The above minimum lease payments to be received do not include reimbursements from tenants for certain operating expenses and real estate taxes and do not include early termination payments provided for in certain leases. Eleven state government tenants currently have the exercisable right to terminate their lease if the state does not appropriate rent in its annual budgets. The Company has determined that the occurrence of the government tenant not appropriating the rent in its annual budget is a remote contingency and accordingly recognizes lease revenue on a straight-line basis over the respective lease term. These tenants represent approximately 11.7% of the Company’s total future minimum lease payments as of December 31, 2017.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies The Company is obligated under certain tenant leases to fund tenant improvements and the expansion of the underlying leased properties. Under various federal, state and local laws, ordinances and regulations relating to the protection of the environment, a current or previous owner or operator of real estate may be liable for the cost of removal or remediation of certain hazardous or toxic substances disposed, stored, generated, released, manufactured or discharged from, on, at, under, or in a property. As such, the Company may be potentially liable for costs associated with any potential environmental remediation at any of its formerly or currently owned properties. The Company believes that it is in compliance in all material respects with all federal, state and local ordinances and regulations regarding hazardous or toxic substances. Management is not aware of any environmental liability that it believes would have a material adverse impact on the Company’s financial position or results of operations. Management is unaware of any instances in which the Company would incur significant environmental costs if any or all properties were sold, disposed of or abandoned. However, there can be no assurance that any such non-compliance, The Company is involved from time to time in lawsuits and other disputes which arise in the ordinary course of business. As of December 31, 2017 management believes that these matters will not have a material adverse effect, individually or in the aggregate, on the Company’s financial position or results of operations.

Stockholder's Equity

Stockholder's Equity	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Stockholder's Equity	11. Stockholder’s Equity On February 1, 2016, the Company closed on the Internalization. Upon closing of the Internalization, the Company and certain of its subsidiaries acquired all of the outstanding stock of the Former Advisor. Pursuant to the Stock Purchase Agreement, at closing, the Company issued 297,321 shares of its common stock to the sellers. In addition, the Company recorded $3.5 million in the first quarter of 2016 in payments to the sellers upon reaching certain fully diluted market capitalization thresholds. On April 5, 2016, the Company completed a follow-on On October 4, 2016, the Company completed a public preferred stock offering pursuant to which the Company sold 4,000,000 shares of our 6.625% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”), par value $0.01 per share to the public at a price of $25.00 per share. The Company raised $100.0 million in gross proceeds, resulting in net proceeds to the Company of approximately $96.5 million after deducting $3.5 million in underwriting discounts and expenses related to the offering. On October 28, 2016, the Company issued an additional 480,000 shares of Series A Preferred Stock pursuant to the partial exercise of the underwriters’ overallotment option, raising an additional $12.0 million in gross proceeds before underwriting discounts and expenses. The preferred stock is perpetual and from October 4, 2021, the Company may at its option redeem the Preferred Stock in whole or in part at a redemption price equal to $25.00 per share, plus any accrued and unpaid dividends (whether or not declared) to, but not including, the date of redemption. During the year ended December 31, 2016, a pro-rated On January 13, 2017, the Company completed a public offering pursuant to which the Company sold 5,750,000 shares of its common stock to the public at a price of $12.40 per share, inclusive of the overallotment option. The Company raised $71.3 million in gross proceeds, resulting in net proceeds to us of approximately $68.0 million after deducting $3.3 million in underwriting discounts and other expenses related to the offering. On June 16, 2017, the Company and the Operating Partnership entered into separate equity distribution agreements (the “Sales Agreements”) with each of KeyBanc Capital Markets Inc., Raymond James & Associates, Inc. and BMO Capital Markets Corp. (collectively, the “Sales Agents”), pursuant to which the Company may issue and sell from time to time up to 6,000,000 shares of its common stock, $0.01 par value per share, and up to 1,000,000 shares of its 6.625% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share (collectively, the “Shares”), through the Sales Agents, acting as agents or principals (the “ATM Program”). Pursuant to the Sales Agreements, the Shares may be offered and sold through the Sales Agents in transactions that are deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act including sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange or, with the prior consent of the Company, in privately negotiated transactions. The Sales Agents will be entitled to compensation of up to 2.0% of the gross proceeds of Shares sold through the Sales Agents from time to time under the Sales Agreements. The Company has no obligation to sell any of the Shares under the Sales Agreements and may at any time suspend solicitations and offers under, or terminate, the Sales Agreements. During the year ended December 31, 2017, we did not sell any Shares under the ATM Program. On December 21, 2017, the Company completed a public offering pursuant to which the Company sold 5,750,000 shares of its common stock to the public at a price of $12.60 per share, inclusive of the overallotment option. The Company raised $72.5 million in gross proceeds, resulting in net proceeds to us of approximately $69.0 million after deducting $3.5 million in underwriting discounts and other expenses related to the offering. Non-controlling Non-controlling non-controlling one-for-one During the year ended December 31, 2017, 40,000 common units were redeemed for shares of common stock. The following table summarizes the non-controlling December 31, 2017 December 31, 2016 City Center $ (140 ) $ (65 ) Central Fairwinds (764 ) 571 AmberGlen (1,375 ) (1,240 ) FRP Collection 842 995 Park Tower 1,645 1,488 $ 208 $ 1,749 Common Stock and Common Unit Distributions During the year ended December 31, 2017, the Company declared aggregate cash distributions to common stockholders and common unitholders of $29.8 million. The Company paid aggregate cash distributions of $28.4 million for the year-ended December 31, 2017 and $8.5 million was payable as of December 31, 2017. During the year ended December 31, 2017, the Company declared the following distributions per share and unit: Period Distribution per Unit Declaration Date Record Date Payment Date January 1, 2017 – March 31, 2017 $ 0.235 March 21, 2017 April 11, 2017 April 25, 2017 April 1, 2017 – June 30, 2017 0.235 June 27, 2017 July 11, 2017 July 25, 2017 July 1, 2017 – September 30, 2017 0.235 September 15, 2017 October 11, 2017 October 25, 2017 October 1, 2017 – December 31, 2017 0.235 December 15, 2017 January 11, 2018 January 25, 2018 Total $ 0.940 Preferred Stock Distributions During the year ended December 31, 2017, the Company declared aggregate cash distributions to preferred stockholders of $7.4 million. The Company paid aggregate cash distributions of $7.8 million for the year-ended December 31, 2017 and $1.9 million was payable as of December 31, 2017. Restricted Stock Units The Company has an equity incentive plan (“Equity Incentive Plan”) for certain officers, directors, advisors and personnel, and, with approval of the board of directors, for subsidiaries and their respective affiliates. The Equity Incentive Plan provides for grants of restricted common stock, restricted stock units, phantom shares, stock options, dividend equivalent rights and other equity-based awards (including LTIP Units), subject to the total number of shares available for issuance under the plan. The Equity Incentive Plan is administered by the compensation committee of the board of directors (the “plan administrator”). The maximum number of shares of common stock that may be issued under the Equity Incentive Plan is 1,263,580 shares. To the extent an award granted under the Equity Incentive Plan expires or terminates, the shares subject to any portion of the award that expires or terminates without having been exercised or paid, as the case may be, will again become available for the issuance of additional awards. During the year ended December 31, 2017, 117,478 restricted stock units (“RSUs”) were granted to directors, executive officers and non-executive A RSU award represents the right to receive shares of the Company’s common stock in the future, after the applicable vesting criteria, determined by the plan administrator, has been satisfied. The holder of an award of RSU has no rights as a stockholder until shares of common stock are issued in settlement of vested restricted stock units. The plan administrator may provide for a grant of dividend equivalent rights in connection with the grant of RSU; provided, however, that if the restricted stock units do not vest solely upon satisfaction of continued employment or service, any payment in respect to the related dividend equivalent rights will be held by the Company and paid when, and only to the extent that, the related RSU vest.

Quarterly Financial Information

Quarterly Financial Information	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	12. Quarterly Financial Information (unaudited): The following tables summarize certain selected quarterly financial data for 2017 and 2016 (in thousands, except per share data): 2017 Quarters Fourth Third Second First Revenue $ 31,181 $ 24,750 $ 25,157 $ 25,399 Net (loss)/income (987 ) (1,723 ) 13,167 (1,299 ) Net (loss)/income attributable to common stockholders (2,920 ) (3,630 ) 8,208 (3,313 ) Net (loss)/income per share (0.09 ) (0.12 ) 0.27 (0.11 ) 2016 Quarters Fourth Third Second First Revenue $ 21,304 $ 18,791 $ 16,092 $ 16,274 Net (loss)/income (3,193 ) (1,882 ) 14,244 (8,793 ) Net (loss)/income attributable to common stockholders (5,080 ) (1,945 ) 11,522 (7,121 ) Net (loss)/income per share (0.21 ) (0.08 ) 0.56 (0.56 )

Schedule III - Real Estate Prop

Schedule III - Real Estate Properties and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2017
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate Properties and Accumulated Depreciation	City Office REIT, Inc. SCHEDULE III – REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION December 31, 2017 (In Thousands) Intial Costs to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried as of December 31, 2017 (1) Description Encumbrances (2) Land Buildings and Improvements Improvements Land Building and Improvements Total (3 ) Accumulated Amortization Date of Construction Date Acquired Depreciation Life For Latest Income Statement AmberGlen 20,000 $ 6,546 $ 3,490 $ 1,793 $ 6,546 $ 5,283 $ 11,829 $ 2,272 1984-1998 December 2009 50 Years City Center 23,850 3,123 10,656 8,190 3,123 18,846 21,969 6,032 1984 December 2010 40 Years Central Fairwinds 15,107 1,747 9,751 5,352 1,747 15,103 16,850 2,929 1982 May 2012 40 Years Cherry Creek 48,675 25,745 20,144 926 25,745 21,070 46,815 5,089 1962-1980 January 2014 36 Years Plaza 25 16,882 1,764 20,563 1,085 1,764 21,648 23,412 3,470 1981 June 2014 30 Years Lake Vista Pointe 18,358 4,115 20,600 55 4,115 20,655 24,770 3,272 2007 July 2014 45 Years FRP Ingenuity Drive 17,000 4,415 17,775 35 4,415 17,810 22,225 2,142 1999 November 2014 40 Years Logan Tower — 1,306 8,197 384 1,306 8,581 9,887 1,000 1983 February 2015 33 Years Superior Pointe — 3,153 19,834 1,137 3,153 20,971 24,124 2,085 2000 June 2015 40 Years DTC Crossroads 16,057 7,137 23,184 378 7,137 23,562 30,699 2,242 1999 June 2015 33 Years 190 Office Center 41,250 7,162 39,690 749 7,162 40,439 47,601 2,614 2001 September 2015 45 Years Intellicenter 33,563 5,244 34,278 8 5,244 34,286 39,530 2,570 2008 September 2015 50 Years Carillon Point 16,671 5,172 17,316 17 5,172 17,333 22,505 1,351 2007 June 2016 39 Years FRP Collection 30,174 7,031 38,700 58 7,031 38,758 45,789 2,661 1986-1999 July 2016 40 Years Park Tower — 3,479 68,656 3,282 3,479 71,938 75,417 3,178 1973 November 2016 30 Years 5090 N 40th St 22,000 6,696 32,123 395 6,696 32,518 39,214 1,008 1988 November 2016 45 Years SanTan 35,100 6,803 37,187 356 6,803 37,543 44,346 1,672 2000-2003 December 2016 41 Years 2525 McKinnon 27,000 10,629 34,515 680 10,629 35,195 45,824 955 2003 January 2017 50 Years Mission City 47,000 25,741 41,474 78 25,741 41,552 67,293 684 1990-2007 September 2017 29 Years Sorrento Mesa — 40,356 44,991 236 40,356 45,227 85,583 765 1985-2001 September 2017 33 Years Papago Tech — 10,746 19,762 — 10,746 19,762 30,508 203 1993-1995 October 2017 40 Years Corporate 33,500 — 111 — — 111 111 40 Total $ 462,187 $ 188,110 $ 562,997 $ 25,194 $ 188,110 $ 588,191 $ 776,301 $ 48,234 (1) The aggregate cost for federal tax purposes as of December 31, 2017 of our real estate assets was $669,562. (2) Encumbrances exclude Washington Group Plaza for $32,290 as the property was held for sale at December 31, 2017 and net deferred financing costs of $4,968. The combined impact of these adjustments were $27,322. (3) Properties identified as held for sale at December 31, 2017 are excluded. A summary of activity for real estate and accumulated depreciation for the year ended December 31, 2017 and 2016 is as follows: 2017 2016 Real Estate Properties Balance, beginning of year $ 589,376 $ 381,789 Acquisitions 228,214 223,167 Dispositions (11,683 ) (24,309 ) Capital improvements 10,804 8,729 Assets held for sale (40,410 ) — Balance, end of year $ 776,301 $ 589,376 Accumulated depreciation Balance, beginning of year $ 39,052 $ 26,909 Depreciation 22,424 30,178 Depreciation on dispositions (7,374 ) (18,035 ) Depreciation on assets held for sale (5,868 ) — Balance, end of year $ 48,234 $ 39,052

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Preparation and Summary of Significant Accounting Policies	Basis of Preparation and Summary of Significant Accounting Policies The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the financial position and results of operations of the Company, the Operating Partnership and its subsidiaries. All significant intercompany transactions and balances have been eliminated on consolidation.
Use of Estimates	Use of Estimates The Company has made a number of significant estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses to prepare these consolidated financial statements in conformity with GAAP. Significant estimates made include the recoverability of accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, the determination of impairment of long-lived assets and the useful lives of long-lived assets. These estimates and assumptions are based on our best estimates and judgment. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management adjusts such estimates when facts and circumstances dictate. Actual results could differ materially from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include unrestricted cash and short-term investments with a maturity date of less than three months when acquired.
Restricted Cash	Restricted Cash Restricted cash consists of cash held in escrow by lenders pursuant to certain lender agreements and cash received from contracted building sales.
Rent Receivable, Net	Rent Receivable, Net The Company continuously monitors collections from tenants and makes a provision for estimated losses based upon historical experience and any specific tenant collection issues that the Company has identified.
Business Combinations	Business Combinations When a property is acquired, management considers the substance of the agreement in determining whether the acquisition represents an asset acquisition or a business combination. Upon acquisitions of properties that constitutes a business, the fair value of the real estate acquired, which includes the impact of fair value adjustments for assumed mortgage debt related to property acquisitions, is allocated to the acquired tangible assets, consisting of land, buildings and improvements and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place non-controlling The fair value of the tangible assets of an acquired property (which includes land, buildings and improvements and fixtures and equipment) is determined by valuing the property as if it were vacant. The “as-if-vacant” lease-up lease-up The fair value of above-market and below-market lease values are recorded based on the difference between the current in-place non-cancelable non-cancelable The fair value of acquired in-place lease-up in-place
Revenue Recognition	Revenue Recognition The Company recognizes lease revenue on a straight-line basis over the term of the lease. Certain leases allow for the tenant to terminate the lease, but the tenant must make a termination payment as stipulated in the lease. If the termination payment is in such an amount that continuation of the lease appears, at the time of lease inception, to be reasonably assured, then the Company recognizes revenue over the term of the lease. The Company has determined that for these leases, the termination payment is in such an amount that continuation of the lease appears, at the time of inception, to be reasonably assured. The Company recognizes lease termination fees as revenue in the period received and writes off unamortized lease-related intangible and other lease-related account balances, provided there are no further Company obligations under the lease. Otherwise, such fees and balances are recognized on a straight-line basis over the remaining obligation period with the termination payments being recorded as a component of rent receivable-deferred or deferred revenue on the consolidated balance sheets. If the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. If the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. The lease incentive is recorded as a deferred expense and amortized as a reduction of revenue on a straight-line basis over the respective lease term. Recoveries from tenants for real estate taxes, insurance and other operating expenses are recognized as revenues in the period that the applicable costs are incurred. The Company recognizes differences between estimated recoveries and the final billed amounts in the subsequent year. Final billings to tenants for real estate taxes, insurance and other operating expenses did not vary significantly as compared to the estimated receivable balances.
Real Estate Properties	Real Estate Properties Real estate properties are stated at cost less accumulated depreciation, except land. Depreciation is computed on the straight-line basis over estimated useful lives of: Years Buildings and improvement 29-50 Site improvement 4-23 Furniture, fixtures and equipment 4-7 Expenditures for maintenance and repairs are charged to operations as incurred.
Impairment of Real Estate Properties	Impairment of Real Estate Properties Long-lived assets currently in use are reviewed periodically for possible impairment and will be written down to fair value if considered impaired. Long-lived assets, to be disposed of, are written down to the lower of cost or fair value less the estimated cost to sell. The Company reviews its real estate properties for impairment when there is an event or a change in circumstances that indicates that the carrying amount may not be recoverable. The Company measures and records impairment losses and reduces the carrying value of properties when indicators of impairment are present and the expected undiscounted cash flows related to those properties are less than their carrying amounts. In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying costs to fair value.
Variable Interest Entities	Variable Interest Entities The Company consolidates variable interest entities (“VIE”) if the Company determines that it is the primary beneficiary of the entity. When evaluating the accounting for a VIE, the Company considers the purpose for which the VIE was created, the importance of each of the activities in which it is engaged and our decision-making role, if any, in those activities that significantly determine the entity’s economic performance relative to other economic interest holders. The Company determines the rights, if any, to receive benefits or the obligation to absorb losses that could potentially be significant to the VIE by considering the economic interest in the entity, regardless of form, which may include debt, equity, management and servicing fees, or other contractual arrangements. The Company considers other relevant factors including each entity’s capital structure, contractual rights to earnings (losses), subordination of the Company’s interests relative to those of other investors, contingent payments, and other contractual arrangements that may be economically significant.
Concentration of Credit Risk	Concentration of Credit Risk The Company places its temporary cash investments in high credit financial institutions. However, a portion of temporary cash investments may exceed FDIC insured levels from time to time. The Company has never experienced any losses related to these balances.
Income Taxes	Income Taxes The Company has elected to be taxed, and intends to continue to operate in a manner that will allow it to continue to qualify, as a REIT. To qualify as a REIT, the Company is required to distribute dividends equal to at least 90% of its REIT taxable income (computed without regard to the deduction for dividends paid and excluding net capital gains) to its stockholders, and meet the various other requirements imposed by the Code relating to matters such as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided the Company qualifies for taxation as a REIT, it is generally not subject to U.S. federal corporate-level income tax on the earnings distributed currently to its stockholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal and state income tax on its taxable income at regular corporate tax rates and any applicable alternative minimum tax. In addition, the Company may not be able to re-elect
Non-controlling Interests	Non-controlling The Company follows the provisions pertaining to non-controlling non-controlling non-controlling non-controlling As of December 31, 2017, and 2016, the Company held a 100% and 99.8% interest, respectively, in the Operating Partnership. As the sole general partner and the majority interest holder, the Company consolidates the financial position and results of operations of the Operating Partnership.
Equity-Based Compensation	Equity-Based Compensation The Company accounts for equity-based compensation, including shares of restricted stock units, in accordance with ASC Topic 718 Compensation – Stock Compensation, which requires the Company to recognize an expense for the fair value of equity-based awards. The estimated fair value of restricted stock units is amortized over their respective vesting periods.
Earnings per Common Share	Earnings per Common Share The Company calculates net income per common share based upon the weighted average shares outstanding for the years ended December 31, 2017, December 31, 2016 and December 31, 2015. Diluted earnings per share is calculated after giving effect to all potential dilutive shares outstanding during the period. There were 0, 40,001, and 3,070,405 potentially dilutive shares outstanding related to the issuance of common units held by non-controlling
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. The Company has not elected to designate any instruments as a hedge.
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 820-10, 820-10”) Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, which is typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.
Deferred Leasing Costs	Deferred Leasing Costs Fees and costs paid in the successful negotiation of leases are deferred and amortized on a straight-line basis over the terms of the respective leases.
Segment Reporting	Segment Reporting The Company operates in one industry segment, commercial real estate.
New Accounting Pronouncements	New Accounting Pronouncements Adopted in the Current Year In January of 2017, the FASB issued ASU 2017-01, To Be Adopted in Future Years In May 2014, the FASB issued ASU 2014-09, In January 2016, the FASB issued ASU 2016-01, 825-10). 2016-01 2016-01 In February 2016, the FASB issued ASU 2016-02, 2016-02 2016-02 non-lease non-lease non-lease In August 2016, the FASB issued ASU 2016-15, In November 2016, the FASB issued ASU 2016-18,

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Real Estate Properties	Real estate properties are stated at cost less accumulated depreciation, except land. Depreciation is computed on the straight-line basis over estimated useful lives of: Years Buildings and improvement 29-50 Site improvement 4-23 Furniture, fixtures and equipment 4-7

Rents Receivable, Net (Tables)

Rents Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2017
Text Block [Abstract]
Components of Rents Receivable	The Company’s rents receivable is comprised of the following components (in thousands): December 31, December 31, Billed receivables $ 1,905 $ 2,024 Straight-line receivables 18,182 15,233 Total rents receivable $ 20,087 $ 17,257

Real Estate Investments (Tables

Real Estate Investments (Tables)	12 Months Ended
	Dec. 31, 2017
Real Estate [Abstract]
Schedule of Acquired Properties	During the years ended December 31, 2017, December 31, 2016 and December 31, 2015 the Company acquired the following properties: Property Date Acquired Percentage Owned Papago Tech October 2017 100 % Mission City and Sorrento Mesa September 2017 100 % 2525 McKinnon January 2017 100 % SanTan December 2016 100 % 5090 N 40th St November 2016 100 % Park Tower November 2016 95 % FRP Collection July 2016 95 % Carillon Point June 2016 100 % Intellicenter September 2015 100 % 190 Office Center September 2015 100 % DTC Crossroads June 2015 100 % Superior Pointe June 2015 100 % Logan Tower February 2015 100 %
Schedule of Allocation of Purchase Price of Assets Acquired and Liabilities Assumed	The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the year ended December 31, 2017 (in thousands): 2525 Mission Papago Total December 31, Land $ 10,629 $ 66,097 $ 10,746 $ 87,472 Buildings and improvements 33,357 78,072 17,469 128,898 Tenant improvements 1,158 8,393 2,293 11,844 Acquired intangible assets 3,267 22,846 2,816 28,929 Prepaid expenses and other assets — 140 10 150 Accounts payable and other liabilities (190 ) (1,507 ) (246 ) (1,943 ) Lease intangible liabilities (2,186 ) (3,766 ) (99 ) (6,051 ) Total Consideration $ 46,035 $ 170,275 $ 32,989 $ 249,299 Consideration paid on acquisitions was in the form of cash and debt. The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the year ended December 31, 2016 (in thousands): Carillon FRP Park 5090 N SanTan Total Land $ 5,172 $ 7,031 $ 3,484 $ 6,696 $ 6,803 $ 29,186 Buildings and improvements 14,500 36,480 66,967 31,465 35,202 184,614 Tenant improvements 2,816 2,219 1,689 658 1,984 9,366 Acquired intangible assets 3,851 3,932 8,324 3,616 10,284 30,007 Prepaid expenses and other assets 73 101 307 — — 481 Accounts payable and other liabilities (217 ) (532 ) (296 ) (448 ) (544 ) (2,037 ) Lease intangible liabilities (353 ) — (773 ) (604 ) (930 ) (2,660 ) Total Consideration $ 25,842 $ 49,231 $ 79,702 $ 41,383 $ 52,799 $ 248,957 The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the year ended December 31, 2015 (in thousands): Logan Superior DTC 190 Intellicenter Total December 31, Land $ 1,306 $ 3,153 $ 7,137 $ 7,162 $ 5,244 $ 24,002 Buildings and improvements 7,844 19,250 22,545 39,367 31,359 120,365 Tenant improvements 353 584 638 323 2,919 4,817 Acquired intangible assets 1,274 2,866 4,152 5,673 7,742 21,707 Prepaid expenses and other assets — 24 — 64 — 88 Accounts payable and other liabilities (48 ) (316 ) (605 ) (720 ) (321 ) (2,010 ) Lease intangible liabilities (306 ) (53 ) (353 ) (805 ) (664 ) (2,181 ) Total Consideration $ 10,423 $ 25,508 $ 33,514 $ 51,064 $ 46,279 $ 166,788
Schedule of Operating Results Relating to Acquired Entities	The following table represents the results of the properties’ operations from the date of acquisition for properties acquired during the year that is presented (in thousands): Year ended Year ended Operating revenues $ 7,215 $ 10,047 Operating expenses (7,433 ) (9,957 ) Interest (589 ) (1,192 ) $ (807 ) $ (1,102 )
Schedule of Property Classified as Held for Sale	The property has been classified as held for sale as of December 31, 2017 (in thousands): December 31, 2017 Washington Real estate properties, net $ 34,543 Deferred leasing costs, net 1,295 Acquired lease intangible assets, net 817 Rents receivable, prepaid expenses and other assets 1,772 Assets held for sale $ 38,427 Acquired lease intangibles liabilities, net (2 ) Accounts payable, accrued expenses, deferred rent and tenant rent deposits (2,828 ) Liabilities related to assets held for sale $ (2,830 )

Lease Intangibles (Tables)

Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Lease Intangibles and Value of Assumed Lease Obligations	Lease intangibles and the value of assumed lease obligations as of December 31, 2017 and December 31, 2016 were comprised as follows (in thousands): Lease Intangible Assets Lease Intangible Liabilities December 31, 2017 Above In Place Leasing Total Below Below Total Cost $ 9,082 $ 71,426 $ 27,706 $ 108,214 $ (11,608 ) $ (138 ) $ (11,746 ) Accumulated amortization (3,215 ) (30,613 ) (9,298 ) (43,126 ) 3,065 32 3,097 $ 5,867 $ 40,813 $ 18,408 $ 65,088 $ (8,543 ) $ (106 ) $ (8,649 ) December 31, 2016 Above In Place Leasing Total Below Below Total Cost $ 7,796 $ 59,370 $ 25,693 $ 92,859 $ (5,587 ) $ (138 ) $ (5,725 ) Accumulated amortization (3,779 ) (24,384 ) (8,482 ) (36,645 ) 1,395 28 1,423 $ 4,017 $ 34,986 $ 17,211 $ 56,214 $ (4,192 ) $ (110 ) $ (4,302 )
Estimated Aggregate Amortization Expense for Lease Intangibles	The estimated aggregate amortization expense for lease intangibles for the five succeeding years and in the aggregate are as follows (in thousands): 2018 $ 15,984 2019 13,505 2020 11,585 2021 9,478 2022 3,187 Thereafter 2,700 $ 56,439

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Summary of Secured Indebtedness	The following table summarizes the secured indebtedness as of December 31, 2017 and 2016 (in thousands): Property December 31, December 31, Interest Rate as of Maturity Secured Credit Facility (1) $ 33,500 $ 52,500 LIBOR +2.25 % (2) June 2018 Midland Life Insurance (3) 88,582 90,124 4.34 May 2021 Mission City 47,000 — 3.78 November 2027 190 Office Center (4) 41,250 41,250 4.79 October 2025 SanTan (4) 35,100 — 4.56 March 2027 Intellicenter (4) 33,563 33,563 4.65 October 2025 Washington Group Plaza (5) 32,290 32,995 3.85 July 2018 FRP Collection (4) 30,174 30,737 3.85 September 2023 2525 McKinnon 27,000 — 4.24 April 2027 5090 N 40 th 22,000 — 3.92 January 2027 AmberGlen (4) 20,000 — 3.69 May 2027 Lake Vista Pointe (5) 18,358 18,460 4.28 August 2024 FRP Ingenuity Drive (5)(6) 17,000 17,000 4.44 December 2024 Plaza 25 (4)(5) 16,882 17,000 4.10 July 2025 Carillon Point (4) 16,671 17,000 3.50 October 2023 Central Fairwinds (4) 15,107 — 4.00 June 2024 AmberGlen Mortgage Loan (7) — 24,280 — — Total Principal 494,477 374,909 Deferred financing costs, net (4,968 ) (4,852 ) Total $ 489,509 $ 370,057 All interest rates are fixed interest rates with the exception of the secured credit facility (“Secured Credit Facility”) as explained in footnote 1 below. (1) At December 31, 2017 the Secured Credit Facility had $150 million authorized and $33.5 million drawn. The Credit Agreement has a maturity date of June 26, 2018, which may be extended to June 26, 2019 at the Company’s option upon meeting certain conditions. The Secured Credit Facility requires the Company to maintain a fixed charge coverage ratio of no less than 1.60x. At December 31, 2017, the Secured Credit Facility was cross-collateralized by Logan Tower, Superior Pointe, Park Tower and Sorrento Mesa. On September 1, 2017, the Company exercised its option under the Secured Credit Facility to utilize the accordion feature to increase the authorized borrowing capacity under the Secured Credit Facility from $100 million to $150 million. During 2016 the authorized borrowing capacity was increased from $75 million to $100 million. (2) As of December 31, 2017, the one month LIBOR rate was 1.56%. (3) The mortgage loan is cross-collateralized by DTC Crossroads, Cherry Creek and City Center. Interest on mortgage loan is payable monthly plus principal based on 360 months of amortization. The loan bears a fixed interest rate of 4.34% and matures on May 6, 2021. Upon the sale of Corporate Parkway on June 15, 2016, $4 million of the loan was paid down and DTC Crossroads was substituted in as collateral property. (4) The Company has various covenants including debt service coverage ratios that under certain conditions must be maintained no less than 1.15x, 1.20x, 1.20x, 1.40x, 1.15x, 1.45x, 1.35x and 1.35x respectively for each of 190 Office Center, SanTan, Intellicenter, FRP Collection, AmberGlen, Plaza 25, Carillon Point and Central Fairwinds. The debt service coverage ratio covenants contained in the loan agreements for Plaza 25, which have not been met at December 31, 2017, allow for temporary relief from the debt service coverage ratio test if certain conditions are met or prepayment of debt service occurs according to a specified schedule. (5) Interest on mortgage loan is payable monthly plus principal based on 360 months of amortization. (6) The Company is required to maintain a minimum net worth of $17 million, minimum liquidity of $1.7 million and a debt service coverage ratio of no less than 1.15x. (7) On May 2, 2017, in conjunction with the sale of the 1400 and 1600 buildings at the AmberGlen property, the Company repaid the outstanding debt secured on the property of $24.1 million plus closing costs and subsequently closed on a $20 million loan secured by a first mortgage lien on the remaining buildings.
Schedule of Principal Repayments of Mortgage Payable	The scheduled principal repayments of mortgage payable as of December 31, 2017 are as follows (in thousands): 2018 $ 69,705 2019 5,049 2020 6,086 2021 88,110 2022 4,772 Thereafter 320,755 Total $ 494,477

Future Minimum Rent Schedule (T

Future Minimum Rent Schedule (Tables)	12 Months Ended
	Dec. 31, 2017
Leases [Abstract]
Schedule of Future Minimum Lease Payments under Noncancellable Operating Leases	Future minimum lease payments to be received as of December 31, 2017 under noncancellable operating leases for the next five years and thereafter are as follows (in thousands): 2018 $ 95,653 2019 85,981 2020 75,929 2021 66,196 2022 52,405 Thereafter 98,214 $ 474,378

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Summary of Noncontrolling Interests	The following table summarizes the non-controlling December 31, 2017 December 31, 2016 City Center $ (140 ) $ (65 ) Central Fairwinds (764 ) 571 AmberGlen (1,375 ) (1,240 ) FRP Collection 842 995 Park Tower 1,645 1,488 $ 208 $ 1,749
Schedule of Distributions Declared per Share and Unit	During the year ended December 31, 2017, the Company declared the following distributions per share and unit: Period Distribution per Unit Declaration Date Record Date Payment Date January 1, 2017 – March 31, 2017 $ 0.235 March 21, 2017 April 11, 2017 April 25, 2017 April 1, 2017 – June 30, 2017 0.235 June 27, 2017 July 11, 2017 July 25, 2017 July 1, 2017 – September 30, 2017 0.235 September 15, 2017 October 11, 2017 October 25, 2017 October 1, 2017 – December 31, 2017 0.235 December 15, 2017 January 11, 2018 January 25, 2018 Total $ 0.940

Quarterly Financial Informati28

Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Summary of Selected Quarterly Financial Data	The following tables summarize certain selected quarterly financial data for 2017 and 2016 (in thousands, except per share data): 2017 Quarters Fourth Third Second First Revenue $ 31,181 $ 24,750 $ 25,157 $ 25,399 Net (loss)/income (987 ) (1,723 ) 13,167 (1,299 ) Net (loss)/income attributable to common stockholders (2,920 ) (3,630 ) 8,208 (3,313 ) Net (loss)/income per share (0.09 ) (0.12 ) 0.27 (0.11 ) 2016 Quarters Fourth Third Second First Revenue $ 21,304 $ 18,791 $ 16,092 $ 16,274 Net (loss)/income (3,193 ) (1,882 ) 14,244 (8,793 ) Net (loss)/income attributable to common stockholders (5,080 ) (1,945 ) 11,522 (7,121 ) Net (loss)/income per share (0.21 ) (0.08 ) 0.56 (0.56 )

Organization and Description 29

Organization and Description of Business - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 01, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Description And Basis Of Presentation [Line Items]
Company formation date			Nov. 26, 2013
Operation commencement date			Apr. 21, 2014
Total cost of business acquisition				$ 7,045	$ 492
Second City Funds [Member] | Administrative Services Agreement [Member]
Business Description And Basis Of Presentation [Line Items]
Annual payment receivable for services				$ 3,275
Administrative service agreement, term				3 years
Second City Funds [Member] | First 12 months [Member] | Administrative Services Agreement [Member]
Business Description And Basis Of Presentation [Line Items]
Annual payment receivable for services				$ 1,500
Second City Funds [Member] | Second 12 months [Member] | Administrative Services Agreement [Member]
Business Description And Basis Of Presentation [Line Items]
Annual payment receivable for services				1,150
Second City Funds [Member] | Third 12 months [Member] | Administrative Services Agreement [Member]
Business Description And Basis Of Presentation [Line Items]
Annual payment receivable for services				$ 625
External Advisor, City Office Real Estate Management, Inc [Member] | Stock Purchase Agreement [Member]
Business Description And Basis Of Presentation [Line Items]
Common stock acquired, shares issued	297,321
Common stock, fair market value	$ 3,500
Additional cash payment for business acquisition	$ 3,500	$ 3,500

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Real Estate Properties (Detail)	12 Months Ended
	Dec. 31, 2017
Minimum [Member] | Buildings and Improvement [Member]
Property, Plant and Equipment [Line Items]
Real estate properties estimated useful lives	29 years
Minimum [Member] | Site Improvement [Member]
Property, Plant and Equipment [Line Items]
Real estate properties estimated useful lives	4 years
Minimum [Member] | Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Real estate properties estimated useful lives	4 years
Maximum [Member] | Buildings and Improvement [Member]
Property, Plant and Equipment [Line Items]
Real estate properties estimated useful lives	50 years
Maximum [Member] | Site Improvement [Member]
Property, Plant and Equipment [Line Items]
Real estate properties estimated useful lives	23 years
Maximum [Member] | Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Real estate properties estimated useful lives	7 years

Summary of Significant Accoun31

Summary of Significant Accounting Policies - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Percentage of REIT taxable income distributed to stockholders	90.00%
Potentially dilutive shares outstanding	0	40,001	3,070,405
Operating Partnership [Member]
Summary Of Significant Accounting Policies [Line Items]
Percent of ownership interest acquired in properties	100.00%	99.80%

Rents Receivable, Net - Compone

Rents Receivable, Net - Components of Rents Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts Receivable, Net, Current [Abstract]
Billed receivables	$ 1,905	$ 2,024
Straight-line receivables	18,182	15,233
Total rents receivable	$ 20,087	$ 17,257

Real Estate Investments - Sched

Real Estate Investments - Schedule of Acquired Properties through Operating Partnership (Detail)	12 Months Ended
	Dec. 31, 2017
Papago Tech [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions	2017-10
Real estate property, percentage owned, asset acquisitions	100.00%
Mission City and Sorrento Mesa [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions	2017-09
Real estate property, percentage owned, asset acquisitions	100.00%
2525 McKinnon [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions	2017-01
Real estate property, percentage owned, asset acquisitions	100.00%
SanTan [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2016-12
Real estate property, percentage owned, business combinations	100.00%
5090 N 40th St [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2016-11
Real estate property, percentage owned, business combinations	100.00%
Park Tower [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2016-11
Real estate property, percentage owned, business combinations	95.00%
FRP Collection [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2016-07
Real estate property, percentage owned, business combinations	95.00%
Carillon Point [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2016-06
Real estate property, percentage owned, business combinations	100.00%
Intellicenter [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2015-09
Real estate property, percentage owned, business combinations	100.00%
190 Office Center [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2015-09
Real estate property, percentage owned, business combinations	100.00%
DTC Crossroads [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2015-06
Real estate property, percentage owned, business combinations	100.00%
Superior Pointe [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2015-06
Real estate property, percentage owned, business combinations	100.00%
Logan Tower [Member]
Acquisitions [Line Items]
Real estate property, date acquired, business combinations	2015-02
Real estate property, percentage owned, business combinations	100.00%

Real Estate Investments - Sch34

Real Estate Investments - Schedule of Allocation of Purchase Price of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Acquisitions [Line Items]
Land, asset acquisitions	$ 87,472
Buildings and improvements, asset acquisitions	128,898
Tenant improvements, asset acquisitions	11,844
Acquired intangible assets, asset acquisitions	28,929
Prepaid expenses and other assets, asset acquisitions	150
Accounts payable and other liabilities, asset acquisitions	(1,943)
Lease intangible liabilities, asset acquisitions	(6,051)
Total Consideration, asset acquisitions	249,299
Land, business combinations		$ 29,186	$ 24,002
Buildings and improvements, business combinations		184,614	120,365
Tenant improvements, business combinations		9,366	4,817
Acquired intangible assets, business combinations		30,007	21,707
Prepaid expenses and other assets, business combinations		481	88
Accounts payable and other liabilities, business combinations		(2,037)	(2,010)
Lease intangible liabilities, business combinations		(2,660)	(2,181)
Total Consideration, business combinations		248,957	166,788
2525 McKinnon [Member]
Acquisitions [Line Items]
Land, asset acquisitions	10,629
Buildings and improvements, asset acquisitions	33,357
Tenant improvements, asset acquisitions	1,158
Acquired intangible assets, asset acquisitions	3,267
Accounts payable and other liabilities, asset acquisitions	(190)
Lease intangible liabilities, asset acquisitions	(2,186)
Total Consideration, asset acquisitions	46,035
Mission City and Sorrento Mesa [Member]
Acquisitions [Line Items]
Land, asset acquisitions	66,097
Buildings and improvements, asset acquisitions	78,072
Tenant improvements, asset acquisitions	8,393
Acquired intangible assets, asset acquisitions	22,846
Prepaid expenses and other assets, asset acquisitions	140
Accounts payable and other liabilities, asset acquisitions	(1,507)
Lease intangible liabilities, asset acquisitions	(3,766)
Total Consideration, asset acquisitions	170,275
Papago Tech [Member]
Acquisitions [Line Items]
Land, asset acquisitions	10,746
Buildings and improvements, asset acquisitions	17,469
Tenant improvements, asset acquisitions	2,293
Acquired intangible assets, asset acquisitions	2,816
Prepaid expenses and other assets, asset acquisitions	10
Accounts payable and other liabilities, asset acquisitions	(246)
Lease intangible liabilities, asset acquisitions	(99)
Total Consideration, asset acquisitions	$ 32,989
Carillon Point [Member]
Acquisitions [Line Items]
Land, business combinations		5,172
Buildings and improvements, business combinations		14,500
Tenant improvements, business combinations		2,816
Acquired intangible assets, business combinations		3,851
Prepaid expenses and other assets, business combinations		73
Accounts payable and other liabilities, business combinations		(217)
Lease intangible liabilities, business combinations		(353)
Total Consideration, business combinations		25,842
FRP Collection [Member]
Acquisitions [Line Items]
Land, business combinations		7,031
Buildings and improvements, business combinations		36,480
Tenant improvements, business combinations		2,219
Acquired intangible assets, business combinations		3,932
Prepaid expenses and other assets, business combinations		101
Accounts payable and other liabilities, business combinations		(532)
Total Consideration, business combinations		49,231
Park Tower [Member]
Acquisitions [Line Items]
Land, business combinations		3,484
Buildings and improvements, business combinations		66,967
Tenant improvements, business combinations		1,689
Acquired intangible assets, business combinations		8,324
Prepaid expenses and other assets, business combinations		307
Accounts payable and other liabilities, business combinations		(296)
Lease intangible liabilities, business combinations		(773)
Total Consideration, business combinations		79,702
5090 N 40th St [Member]
Acquisitions [Line Items]
Land, business combinations		6,696
Buildings and improvements, business combinations		31,465
Tenant improvements, business combinations		658
Acquired intangible assets, business combinations		3,616
Accounts payable and other liabilities, business combinations		(448)
Lease intangible liabilities, business combinations		(604)
Total Consideration, business combinations		41,383
SanTan [Member]
Acquisitions [Line Items]
Land, business combinations		6,803
Buildings and improvements, business combinations		35,202
Tenant improvements, business combinations		1,984
Acquired intangible assets, business combinations		10,284
Accounts payable and other liabilities, business combinations		(544)
Lease intangible liabilities, business combinations		(930)
Total Consideration, business combinations		$ 52,799
Logan Tower [Member]
Acquisitions [Line Items]
Land, business combinations			1,306
Buildings and improvements, business combinations			7,844
Tenant improvements, business combinations			353
Acquired intangible assets, business combinations			1,274
Accounts payable and other liabilities, business combinations			(48)
Lease intangible liabilities, business combinations			(306)
Total Consideration, business combinations			10,423
Superior Pointe [Member]
Acquisitions [Line Items]
Land, business combinations			3,153
Buildings and improvements, business combinations			19,250
Tenant improvements, business combinations			584
Acquired intangible assets, business combinations			2,866
Prepaid expenses and other assets, business combinations			24
Accounts payable and other liabilities, business combinations			(316)
Lease intangible liabilities, business combinations			(53)
Total Consideration, business combinations			25,508
DTC Crossroads [Member]
Acquisitions [Line Items]
Land, business combinations			7,137
Buildings and improvements, business combinations			22,545
Tenant improvements, business combinations			638
Acquired intangible assets, business combinations			4,152
Accounts payable and other liabilities, business combinations			(605)
Lease intangible liabilities, business combinations			(353)
Total Consideration, business combinations			33,514
190 Office Center [Member]
Acquisitions [Line Items]
Land, business combinations			7,162
Buildings and improvements, business combinations			39,367
Tenant improvements, business combinations			323
Acquired intangible assets, business combinations			5,673
Prepaid expenses and other assets, business combinations			64
Accounts payable and other liabilities, business combinations			(720)
Lease intangible liabilities, business combinations			(805)
Total Consideration, business combinations			51,064
Intellicenter [Member]
Acquisitions [Line Items]
Land, business combinations			5,244
Buildings and improvements, business combinations			31,359
Tenant improvements, business combinations			2,919
Acquired intangible assets, business combinations			7,742
Accounts payable and other liabilities, business combinations			(321)
Lease intangible liabilities, business combinations			(664)
Total Consideration, business combinations			$ 46,279

Real Estate Investments - Sch35

Real Estate Investments - Schedule of Operating Results Relating to Acquired Entities (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Operating revenues	$ 31,181	$ 24,750	$ 25,157	$ 25,399	$ 21,304	$ 18,791	$ 16,092	$ 16,274	$ 106,487	$ 72,461	$ 55,052
Operating expenses									(42,886)	(28,305)	(20,420)
Interest									$ (20,173)	(14,761)	(11,353)
Carillon Point, FRP Collection, Park Tower, 5090 N 40th St., and SanTan [Member]
Business Acquisition [Line Items]
Operating revenues										7,215
Operating expenses										(7,433)
Interest										(589)
Total										$ (807)
Logan Tower, Superior Pointe, DTC Crossroads, Intellicenter, and 190 Office Center [Member]
Business Acquisition [Line Items]
Operating revenues											10,047
Operating expenses											(9,957)
Interest											(1,192)
Total											$ (1,102)

Real Estate Investments - Addit

Real Estate Investments - Additional Information (Detail) - USD ($) $ in Thousands	May 02, 2017	Jun. 15, 2016	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate [Line Items]
Net gain on sale of real estate property				$ 12,116	$ 15,934
Washington Group Plaza [Member]
Real Estate [Line Items]
Non-refundable deposit received				10,000
Earnest money deposit received				250
Irrevocable letter of credit received				$ 9,750
Scenario, Forecast [Member] | Washington Group Plaza [Member]
Real Estate [Line Items]
Proceeds of sale of property			$ 86,500
Portland Oregon [Member]
Real Estate [Line Items]
Proceeds of sale of property	$ 18,900
Net gain on sale of real estate property	12,100
Cost incurred on property sold	$ 2,000
Allentown Pa [Member]
Real Estate [Line Items]
Proceeds of sale of property		$ 44,900
Net gain on sale of real estate property		15,900
Cost incurred on property sold		$ 2,000

Real Estate Investments - Sch37

Real Estate Investments - Schedule of Property Classified as Held for Sale (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	$ 38,427
Liabilities related to assets held for sale	(2,830)
Washington Group Plaza [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	38,427
Liabilities related to assets held for sale	(2,830)
Washington Group Plaza [Member] | Real Estate Properties, Net [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	34,543
Washington Group Plaza [Member] | Deferred Leasing Costs, Net [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	1,295
Washington Group Plaza [Member] | Acquired Lease Intangible Assets, Net [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	817
Washington Group Plaza [Member] | Rents Receivable, Prepaid Expenses and Other Assets [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	1,772
Washington Group Plaza [Member] | Acquired Lease Intangibles Liabilities, Net [Member]
Long Lived Assets Held-for-sale [Line Items]
Liabilities related to assets held for sale	(2)
Washington Group Plaza [Member] | Accounts Payable, Accrued Expenses, Deferred Rent and Tenant Rent Deposits [Member]
Long Lived Assets Held-for-sale [Line Items]
Liabilities related to assets held for sale	$ (2,828)

Lease Intangibles - Schedule of

Lease Intangibles - Schedule of Lease Intangibles and Value of Assumed Lease Obligations (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Assets	$ 108,214	$ 92,859
Accumulated amortization, Lease Intangible Assets	(43,126)	(36,645)
Total, Lease Intangible Assets	65,088	56,214
Cost, Lease Intangible Liabilities	(11,746)	(5,725)
Accumulated amortization, Lease Intangible Liabilities	3,097	1,423
Total, Lease Intangible Liabilities	(8,649)	(4,302)
Above Market Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Assets	9,082	7,796
Accumulated amortization, Lease Intangible Assets	(3,215)	(3,779)
Total, Lease Intangible Assets	5,867	4,017
In Place Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Assets	71,426	59,370
Accumulated amortization, Lease Intangible Assets	(30,613)	(24,384)
Total, Lease Intangible Assets	40,813	34,986
Leasing Commissions [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Assets	27,706	25,693
Accumulated amortization, Lease Intangible Assets	(9,298)	(8,482)
Total, Lease Intangible Assets	18,408	17,211
Below Market Tenant Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Liabilities	(11,608)	(5,587)
Accumulated amortization, Lease Intangible Liabilities	3,065	1,395
Total, Lease Intangible Liabilities	(8,543)	(4,192)
Below Market Ground Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Liabilities	(138)	(138)
Accumulated amortization, Lease Intangible Liabilities	32	28
Total, Lease Intangible Liabilities	$ (106)	$ (110)

Lease Intangibles - Estimated A

Lease Intangibles - Estimated Aggregate Amortization Expense for Lease Intangibles (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,018	$ 15,984
2,019	13,505
2,020	11,585
2,021	9,478
2,022	3,187
Thereafter	2,700
Total	$ 56,439

Debt - Summary of Secured Indeb

Debt - Summary of Secured Indebtedness (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total	$ 489,509	$ 370,057
Secured Credit Facility [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 33,500	52,500
Maturity	2018-06
London Interbank Offered Rate (LIBOR) [Member] | Secured Credit Facility [Member]
Debt Instrument [Line Items]
Interest Rate, Description	2.25%
Secured Debt [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 494,477	374,909
Deferred financing costs, net	(4,968)	(4,852)
Total	489,509	370,057
Secured Debt [Member] | Midland Life Insurance [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 88,582	90,124
Interest Rate	4.34%
Maturity	2021-05
Secured Debt [Member] | FRP Ingenuity Drive [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 17,000	17,000
Interest Rate	4.44%
Maturity	2024-12
Secured Debt [Member] | Washington Group Plaza [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 32,290	32,995
Interest Rate	3.85%
Maturity	2018-07
Secured Debt [Member] | AmberGlen Mortgage Loan [Member]
Debt Instrument [Line Items]
Secured indebtedness		24,280
Secured Debt [Member] | Lake Vista Pointe [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 18,358	18,460
Interest Rate	4.28%
Maturity	2024-08
Secured Debt [Member] | Plaza 25 [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 16,882	17,000
Interest Rate	4.10%
Maturity	2025-07
Secured Debt [Member] | 190 Office Center [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 41,250	41,250
Interest Rate	4.79%
Maturity	2025-10
Secured Debt [Member] | Intellicenter [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 33,563	33,563
Interest Rate	4.65%
Maturity	2025-10
Secured Debt [Member] | FRP Collection [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 30,174	30,737
Interest Rate	3.85%
Maturity	2023-09
Secured Debt [Member] | Carillon Point [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 16,671	$ 17,000
Interest Rate	3.50%
Maturity	2023-10
Secured Debt [Member] | 5090 N 40th St [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 22,000
Interest Rate	3.92%
Maturity	2027-01
Secured Debt [Member] | SanTan [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 35,100
Interest Rate	4.56%
Maturity	2027-03
Secured Debt [Member] | 2525 McKinnon [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 27,000
Interest Rate	4.24%
Maturity	2027-04
Secured Debt [Member] | AmberGlen Property [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 20,000
Interest Rate	3.69%
Maturity	2027-05
Secured Debt [Member] | Central Fairwinds [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 15,107
Interest Rate	4.00%
Maturity	2024-06
Secured Debt [Member] | Mission City [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 47,000
Interest Rate	3.78%
Maturity	2027-11

Debt - Summary of Secured Ind41

Debt - Summary of Secured Indebtedness (Parenthetical) (Detail) - USD ($)	May 02, 2017	Jun. 15, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Aug. 31, 2017
Debt Instrument [Line Items]
Repayment of mortgage loans payable			$ 27,772,000	$ 20,199,000	$ 1,082,000
Midland Life Insurance [Member]
Debt Instrument [Line Items]
Repayment of mortgage loans payable		$ 4,000,000
AmberGlen Mortgage Loan [Member]
Debt Instrument [Line Items]
Repayment of mortgage loans payable	$ 24,100,000
Secured Debt [Member] | Midland Life Insurance [Member]
Debt Instrument [Line Items]
Loan maturity date			May 6, 2021
Amortization period			360 months
Effective interest rate of loan			4.34%
Secured Debt [Member] | FRP Ingenuity Drive [Member]
Debt Instrument [Line Items]
Amortization period			360 months
Effective interest rate of loan			4.44%
Minimum net worth required			$ 17,000,000
Minimum liquidity requirements			$ 1,700,000
Secured Debt [Member] | FRP Ingenuity Drive [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			115.00%
Secured Debt [Member] | Washington Group Plaza [Member]
Debt Instrument [Line Items]
Amortization period			360 months
Effective interest rate of loan			3.85%
Secured Debt [Member] | Lake Vista Pointe [Member]
Debt Instrument [Line Items]
Amortization period			360 months
Effective interest rate of loan			4.28%
Secured Debt [Member] | Plaza 25 [Member]
Debt Instrument [Line Items]
Amortization period			360 months
Effective interest rate of loan			4.10%
Secured Debt [Member] | Plaza 25 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			145.00%
Secured Debt [Member] | 190 Office Center [Member]
Debt Instrument [Line Items]
Effective interest rate of loan			4.79%
Secured Debt [Member] | 190 Office Center [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			115.00%
Secured Debt [Member] | Intellicenter [Member]
Debt Instrument [Line Items]
Effective interest rate of loan			4.65%
Secured Debt [Member] | Intellicenter [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			120.00%
Secured Debt [Member] | FRP Collection [Member]
Debt Instrument [Line Items]
Effective interest rate of loan			3.85%
Secured Debt [Member] | FRP Collection [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			140.00%
Secured Debt [Member] | Carillon Point [Member]
Debt Instrument [Line Items]
Effective interest rate of loan			3.50%
Secured Debt [Member] | Carillon Point [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			135.00%
Secured Debt [Member] | SanTan [Member]
Debt Instrument [Line Items]
Effective interest rate of loan			4.56%
Secured Debt [Member] | SanTan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			120.00%
Secured Debt [Member] | AmberGlen Property [Member]
Debt Instrument [Line Items]
Effective interest rate of loan			3.69%
Secured indebtedness closed	$ 20,000,000
Secured Debt [Member] | AmberGlen Property [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			115.00%
Secured Debt [Member] | Central Fairwinds [Member]
Debt Instrument [Line Items]
Effective interest rate of loan			4.00%
Secured Debt [Member] | Central Fairwinds [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			135.00%
Secured Credit Facility [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, authorized amount			$ 150,000,000	$ 100,000,000	$ 75,000,000	$ 100,000,000
Revolving Credit Facility, outstanding amount			$ 33,500,000
Loan maturity date			Jun. 26, 2018
Loan expected extended maturity date			Jun. 26, 2019
Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
One month LIBOR rate			1.56%
Secured Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			160.00%

Debt - Schedule of Principal Re

Debt - Schedule of Principal Repayments of Mortgage Payable (Detail) - Secured Debt [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2,018	$ 69,705
2,019	5,049
2,020	6,086
2,021	88,110
2,022	4,772
Thereafter	320,755
Total	$ 494,477	$ 374,909

Fair Value of Financial Instr43

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	Feb. 21, 2017	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Hedges or derivatives		$ 0	$ 0
Earn-out payment	$ 2,400,000	2,400,000	3,800,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans payable, fair value		$ 462,300,000	$ 323,700,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	Feb. 21, 2017	Jul. 15, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Earn-out payment	$ 2.4		$ 2.4	$ 3.8
Common Stock [Member]
Related Party Transaction [Line Items]
Common stock, shares issued			40,000	3,206,000	12,000
Second City Funds [Member] | Administrative Services Agreement [Member]
Related Party Transaction [Line Items]
Revenue for services			$ 1.2	$ 1.4	$ 0
Limited Partner [Member] | Common Stock [Member]
Related Party Transaction [Line Items]
Redemption of common units		3,126,084
Common stock, shares issued		3,126,084
Former Advisor [Member]
Related Party Transaction [Line Items]
Advisory and transaction fees incurred			$ 0	$ 0.1	$ 3

Future Minimum Rent Schedule -

Future Minimum Rent Schedule - Schedule of Future Minimum Lease Payments under Noncancellable Operating Leases (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Leases [Abstract]
2,018	$ 95,653
2,019	85,981
2,020	75,929
2,021	66,196
2,022	52,405
Thereafter	98,214
Total future minimum lease payments to be received	$ 474,378

Future Minimum Rent Schedule 46

Future Minimum Rent Schedule - Additional Information (Detail)	Dec. 31, 2017
Sales Revenue, Services, Net [Member] | Government Contracts Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of total future minimum lease payments	11.70%

Stockholder's Equity - Addition

Stockholder's Equity - Additional Information (Detail) $ / shares in Units, $ in Thousands	Dec. 21, 2017USD ($)$ / sharesshares	Jun. 16, 2017$ / sharesshares	Jan. 13, 2017USD ($)$ / sharesshares	Oct. 28, 2016USD ($)shares	Oct. 04, 2016USD ($)$ / sharesshares	Apr. 05, 2016USD ($)$ / sharesshares	Feb. 01, 2016USD ($)shares	Mar. 31, 2016USD ($)	Dec. 31, 2017USD ($)Installment$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares
Class of Stock [Line Items]
Common stock issued | shares									36,012,086	24,382,226
Common stock price per share | $ / shares									$ 0.01	$ 0.01
Net proceeds from issuance of public offering									$ 136,941	$ 86,785
Preferred stock, share issued | shares									4,480,000	4,480,000
Preferred stock price per share | $ / shares									$ 0.01	$ 0.01
Net proceeds from issuance of public offering										$ 108,127
Interest rate									6.625%	6.625%
Common stock, shares authorized | shares									100,000,000	100,000,000
Preferred stock, shares authorized | shares									5,600,000	4,600,000
Operating partnership common units | shares									0
Partnership unit, description									Beginning on or after the date which is 12 months after the date on which a person first became a holder of common units, each limited partner and assignees of limited partners will have the right, subject to the terms and conditions set forth in the partnership agreement, to require the Operating Partnership to redeem all or a portion of the common units held by such limited partner or assignee in exchange for a cash amount per common unit equal to the value of one share of common stock, determined in accordance with and subject to adjustment under the partnership agreement. The Company has the sole option at its discretion to redeem the tendered common units by issuing common stock on a one-for-one basis.
Common units redeemed for shares of common stock | shares									40,000
Aggregate cash distributions declared									$ 29,800
Aggregate cash distributions paid									28,400
Aggregate cash distributions payable									8,500
Preferred stock, aggregate cash distributions declared									7,400
Payment of aggregate cash distributions									$ 7,800
Maximum number of shares issued under Equity Incentive Plan | shares									1,263,580
Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, cash distributions payable									$ 1,900
Sales Agreement [Member]
Class of Stock [Line Items]
Common stock price per share | $ / shares		$ 0.01
Preferred stock price per share | $ / shares		$ 0.01
Interest rate		6.625%
Common stock, shares authorized | shares		6,000,000
Preferred stock, shares authorized | shares		1,000,000
Percentage of compensation from gross proceeds of shares sold		2.00%
Shares sold | shares									0
External Advisor, City Office Real Estate Management, Inc [Member] | Stock Purchase Agreement [Member]
Class of Stock [Line Items]
Business acquisition effective date							Feb. 1, 2016
Common stock acquired, shares issued | shares							297,321
Additional cash payment for business acquisition							$ 3,500	$ 3,500
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Net compensation expense									$ 1,700	$ 2,400
Number of annual installments for award vesting | Installment									3
Restricted Stock Units (RSUs) [Member] | Directors and Non-Executive Employees [Member]
Class of Stock [Line Items]
Restricted stock units granted to executive officers, directors and non-executive employees | shares									117,478
Restricted stock units grant date fair value									$ 1,500
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock price per share | $ / shares					$ 0.01
Follow-on Public Offering [Member]
Class of Stock [Line Items]
Common stock issued | shares						8,050,000
Common stock price per share | $ / shares						$ 11.40
Gross proceeds from issuance of public offering						$ 91,800
Net proceeds from issuance of public offering						86,700
Underwriting discounts and other expenses						$ 5,100
Follow-on Public Offering [Member] | Series A Preferred Stock [Member]
Class of Stock [Line Items]
Underwriting discounts and other expenses					$ 3,500
Preferred stock, share issued | shares				480,000	4,000,000
Preferred stock price per share | $ / shares					$ 25
Gross proceeds from issuance of public offering				$ 12,000	$ 100,000
Net proceeds from issuance of public offering					$ 96,500
Interest rate					6.625%
Preferred Stock, redemption price per share | $ / shares					$ 25
Public Offering [Member]
Class of Stock [Line Items]
Common stock issued | shares	5,750,000		5,750,000
Common stock price per share | $ / shares	$ 12.60		$ 12.40
Gross proceeds from issuance of public offering			$ 71,300
Net proceeds from issuance of public offering	$ 69,000		68,000
Underwriting discounts and other expenses	3,500		$ 3,300
Gross proceeds from issuance of public offering	$ 72,500

Stockholder's Equity - Summary

Stockholder's Equity - Summary of Noncontrolling Interests in Properties (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	$ 208	$ 1,749
City Center [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	(140)	(65)
Central Fairwinds [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	(764)	571
AmberGlen Property [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	(1,375)	(1,240)
FRP Collection [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	842	995
Park Tower [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	$ 1,645	$ 1,488

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of Distributions Declared per Share and Unit (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Dividends Payable [Line Items]
Distribution per Common Share/Unit	$ 0.940	$ 0.940	$ 0.940
January 1, 2017 - March 31, 2017 [Member]
Dividends Payable [Line Items]
Distribution per Common Share/Unit	$ 0.235
January 1, 2017 - March 31, 2017 [Member] | Common Stock [Member]
Dividends Payable [Line Items]
Declaration Date	Mar. 21, 2017
Record Date	Apr. 11, 2017
Payment Date	Apr. 25, 2017
April 1, 2017 - June 30, 2017 [Member]
Dividends Payable [Line Items]
Distribution per Common Share/Unit	$ 0.235
April 1, 2017 - June 30, 2017 [Member] | Common Stock [Member]
Dividends Payable [Line Items]
Declaration Date	Jun. 27, 2017
Record Date	Jul. 11, 2017
Payment Date	Jul. 25, 2017
July 1, 2017 - September 30, 2017 [Member]
Dividends Payable [Line Items]
Distribution per Common Share/Unit	$ 0.235
July 1, 2017 - September 30, 2017 [Member] | Common Stock [Member]
Dividends Payable [Line Items]
Declaration Date	Sep. 15, 2017
Record Date	Oct. 11, 2017
Payment Date	Oct. 25, 2017
October 1, 2017 - December 31, 2017 [Member]
Dividends Payable [Line Items]
Distribution per Common Share/Unit	$ 0.235
October 1, 2017 - December 31, 2017 [Member] | Common Stock [Member]
Dividends Payable [Line Items]
Declaration Date	Dec. 15, 2017
Record Date	Jan. 11, 2018
Payment Date	Jan. 25, 2018

Quarterly Financial Informati50

Quarterly Financial Information - Summary of Selected Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 31,181	$ 24,750	$ 25,157	$ 25,399	$ 21,304	$ 18,791	$ 16,092	$ 16,274	$ 106,487	$ 72,461	$ 55,052
Net (loss)/income	(987)	(1,723)	13,167	(1,299)	(3,193)	(1,882)	14,244	(8,793)	9,158	376	(7,667)
Net (loss)/income attributable to common stockholders	$ (2,920)	$ (3,630)	$ 8,208	$ (3,313)	$ (5,080)	$ (1,945)	$ 11,522	$ (7,121)	$ (1,655)	$ (2,624)	$ (6,591)
Net (loss)/income per share	$ (0.09)	$ (0.12)	$ 0.27	$ (0.11)	$ (0.21)	$ (0.08)	$ 0.56	$ (0.56)	$ (0.05)	$ (0.13)	$ (0.53)

Schedule III - Real Estate Pr51

Schedule III - Real Estate Properties and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 462,187
Initial Costs to Company, Land	188,110
Initial Costs to Company, Buildings and Improvements	562,997
Costs Capitalized Subsequent to Acquisitions, Improvements	25,194
Gross Amount, Land	188,110
Gross Amount, Building and Improvements	588,191
Gross Amount, Total	776,301	$ 589,376	$ 381,789
Accumulated Amortization	48,234	$ 39,052	$ 26,909
AmberGlen Property [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	20,000
Initial Costs to Company, Land	6,546
Initial Costs to Company, Buildings and Improvements	3,490
Costs Capitalized Subsequent to Acquisitions, Improvements	1,793
Gross Amount, Land	6,546
Gross Amount, Building and Improvements	5,283
Gross Amount, Total	11,829
Accumulated Amortization	$ 2,272
Date Acquired	2009-12
Depreciation Life for the Latest Income Statement	50 years
AmberGlen Property [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,984
AmberGlen Property [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,998
City Center Property [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 23,850
Initial Costs to Company, Land	3,123
Initial Costs to Company, Buildings and Improvements	10,656
Costs Capitalized Subsequent to Acquisitions, Improvements	8,190
Gross Amount, Land	3,123
Gross Amount, Building and Improvements	18,846
Gross Amount, Total	21,969
Accumulated Amortization	$ 6,032
Date of Construction	1,984
Date Acquired	2010-12
Depreciation Life for the Latest Income Statement	40 years
Central Fairwinds [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 15,107
Initial Costs to Company, Land	1,747
Initial Costs to Company, Buildings and Improvements	9,751
Costs Capitalized Subsequent to Acquisitions, Improvements	5,352
Gross Amount, Land	1,747
Gross Amount, Building and Improvements	15,103
Gross Amount, Total	16,850
Accumulated Amortization	$ 2,929
Date of Construction	1,982
Date Acquired	2012-05
Depreciation Life for the Latest Income Statement	40 years
Cherry Creek [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 48,675
Initial Costs to Company, Land	25,745
Initial Costs to Company, Buildings and Improvements	20,144
Costs Capitalized Subsequent to Acquisitions, Improvements	926
Gross Amount, Land	25,745
Gross Amount, Building and Improvements	21,070
Gross Amount, Total	46,815
Accumulated Amortization	$ 5,089
Date Acquired	2014-01
Depreciation Life for the Latest Income Statement	36 years
Cherry Creek [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,962
Cherry Creek [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,980
Plaza 25 [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 16,882
Initial Costs to Company, Land	1,764
Initial Costs to Company, Buildings and Improvements	20,563
Costs Capitalized Subsequent to Acquisitions, Improvements	1,085
Gross Amount, Land	1,764
Gross Amount, Building and Improvements	21,648
Gross Amount, Total	23,412
Accumulated Amortization	$ 3,470
Date of Construction	1,981
Date Acquired	2014-06
Depreciation Life for the Latest Income Statement	30 years
Lake Vista Pointe [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 18,358
Initial Costs to Company, Land	4,115
Initial Costs to Company, Buildings and Improvements	20,600
Costs Capitalized Subsequent to Acquisitions, Improvements	55
Gross Amount, Land	4,115
Gross Amount, Building and Improvements	20,655
Gross Amount, Total	24,770
Accumulated Amortization	$ 3,272
Date of Construction	2,007
Date Acquired	2014-07
Depreciation Life for the Latest Income Statement	45 years
FRP Ingenuity Drive [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 17,000
Initial Costs to Company, Land	4,415
Initial Costs to Company, Buildings and Improvements	17,775
Costs Capitalized Subsequent to Acquisitions, Improvements	35
Gross Amount, Land	4,415
Gross Amount, Building and Improvements	17,810
Gross Amount, Total	22,225
Accumulated Amortization	$ 2,142
Date of Construction	1,999
Date Acquired	2014-11
Depreciation Life for the Latest Income Statement	40 years
Logan Tower [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs to Company, Land	$ 1,306
Initial Costs to Company, Buildings and Improvements	8,197
Costs Capitalized Subsequent to Acquisitions, Improvements	384
Gross Amount, Land	1,306
Gross Amount, Building and Improvements	8,581
Gross Amount, Total	9,887
Accumulated Amortization	$ 1,000
Date of Construction	1,983
Date Acquired	2015-02
Depreciation Life for the Latest Income Statement	33 years
Superior Pointe [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs to Company, Land	$ 3,153
Initial Costs to Company, Buildings and Improvements	19,834
Costs Capitalized Subsequent to Acquisitions, Improvements	1,137
Gross Amount, Land	3,153
Gross Amount, Building and Improvements	20,971
Gross Amount, Total	24,124
Accumulated Amortization	$ 2,085
Date of Construction	2,000
Date Acquired	2015-06
Depreciation Life for the Latest Income Statement	40 years
DTC Crossroads [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 16,057
Initial Costs to Company, Land	7,137
Initial Costs to Company, Buildings and Improvements	23,184
Costs Capitalized Subsequent to Acquisitions, Improvements	378
Gross Amount, Land	7,137
Gross Amount, Building and Improvements	23,562
Gross Amount, Total	30,699
Accumulated Amortization	$ 2,242
Date of Construction	1,999
Date Acquired	2015-06
Depreciation Life for the Latest Income Statement	33 years
190 Office Center [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 41,250
Initial Costs to Company, Land	7,162
Initial Costs to Company, Buildings and Improvements	39,690
Costs Capitalized Subsequent to Acquisitions, Improvements	749
Gross Amount, Land	7,162
Gross Amount, Building and Improvements	40,439
Gross Amount, Total	47,601
Accumulated Amortization	$ 2,614
Date of Construction	2,001
Date Acquired	2015-09
Depreciation Life for the Latest Income Statement	45 years
Intellicenter [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 33,563
Initial Costs to Company, Land	5,244
Initial Costs to Company, Buildings and Improvements	34,278
Costs Capitalized Subsequent to Acquisitions, Improvements	8
Gross Amount, Land	5,244
Gross Amount, Building and Improvements	34,286
Gross Amount, Total	39,530
Accumulated Amortization	$ 2,570
Date of Construction	2,008
Date Acquired	2015-09
Depreciation Life for the Latest Income Statement	50 years
Carillon Point [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 16,671
Initial Costs to Company, Land	5,172
Initial Costs to Company, Buildings and Improvements	17,316
Costs Capitalized Subsequent to Acquisitions, Improvements	17
Gross Amount, Land	5,172
Gross Amount, Building and Improvements	17,333
Gross Amount, Total	22,505
Accumulated Amortization	$ 1,351
Date of Construction	2,007
Date Acquired	2016-06
Depreciation Life for the Latest Income Statement	39 years
FRP Collection [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 30,174
Initial Costs to Company, Land	7,031
Initial Costs to Company, Buildings and Improvements	38,700
Costs Capitalized Subsequent to Acquisitions, Improvements	58
Gross Amount, Land	7,031
Gross Amount, Building and Improvements	38,758
Gross Amount, Total	45,789
Accumulated Amortization	$ 2,661
Date Acquired	2016-07
Depreciation Life for the Latest Income Statement	40 years
FRP Collection [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,986
FRP Collection [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,999
Park Tower [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs to Company, Land	$ 3,479
Initial Costs to Company, Buildings and Improvements	68,656
Costs Capitalized Subsequent to Acquisitions, Improvements	3,282
Gross Amount, Land	3,479
Gross Amount, Building and Improvements	71,938
Gross Amount, Total	75,417
Accumulated Amortization	$ 3,178
Date of Construction	1,973
Date Acquired	2016-11
Depreciation Life for the Latest Income Statement	30 years
5090 N 40th St [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 22,000
Initial Costs to Company, Land	6,696
Initial Costs to Company, Buildings and Improvements	32,123
Costs Capitalized Subsequent to Acquisitions, Improvements	395
Gross Amount, Land	6,696
Gross Amount, Building and Improvements	32,518
Gross Amount, Total	39,214
Accumulated Amortization	$ 1,008
Date of Construction	1,988
Date Acquired	2016-11
Depreciation Life for the Latest Income Statement	45 years
SanTan [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 35,100
Initial Costs to Company, Land	6,803
Initial Costs to Company, Buildings and Improvements	37,187
Costs Capitalized Subsequent to Acquisitions, Improvements	356
Gross Amount, Land	6,803
Gross Amount, Building and Improvements	37,543
Gross Amount, Total	44,346
Accumulated Amortization	$ 1,672
Date Acquired	2016-12
Depreciation Life for the Latest Income Statement	41 years
SanTan [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2,000
SanTan [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2,003
2525 McKinnon [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 27,000
Initial Costs to Company, Land	10,629
Initial Costs to Company, Buildings and Improvements	34,515
Costs Capitalized Subsequent to Acquisitions, Improvements	680
Gross Amount, Land	10,629
Gross Amount, Building and Improvements	35,195
Gross Amount, Total	45,824
Accumulated Amortization	$ 955
Date of Construction	2,003
Date Acquired	2017-01
Depreciation Life for the Latest Income Statement	50 years
Mission City [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 47,000
Initial Costs to Company, Land	25,741
Initial Costs to Company, Buildings and Improvements	41,474
Costs Capitalized Subsequent to Acquisitions, Improvements	78
Gross Amount, Land	25,741
Gross Amount, Building and Improvements	41,552
Gross Amount, Total	67,293
Accumulated Amortization	$ 684
Date Acquired	2017-09
Depreciation Life for the Latest Income Statement	29 years
Mission City [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,990
Mission City [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2,007
Sorrento Mesa [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs to Company, Land	$ 40,356
Initial Costs to Company, Buildings and Improvements	44,991
Costs Capitalized Subsequent to Acquisitions, Improvements	236
Gross Amount, Land	40,356
Gross Amount, Building and Improvements	45,227
Gross Amount, Total	85,583
Accumulated Amortization	$ 765
Date Acquired	2017-09
Depreciation Life for the Latest Income Statement	33 years
Sorrento Mesa [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,985
Sorrento Mesa [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2,001
Papago Tech [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs to Company, Land	$ 10,746
Initial Costs to Company, Buildings and Improvements	19,762
Gross Amount, Land	10,746
Gross Amount, Building and Improvements	19,762
Gross Amount, Total	30,508
Accumulated Amortization	$ 203
Date Acquired	2017-10
Depreciation Life for the Latest Income Statement	40 years
Papago Tech [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,993
Papago Tech [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1,995
Corporate [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 33,500
Initial Costs to Company, Buildings and Improvements	111
Gross Amount, Building and Improvements	111
Gross Amount, Total	111
Accumulated Amortization	$ 40

Schedule III - Real Estate Pr52

Schedule III - Real Estate Properties and Accumulated Depreciation (Parenthetical) (Detail) $ in Thousands	Dec. 31, 2017USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Real estate assets, aggregate cost for federal tax purpose	$ 669,562
Asset held for sale	38,427
Asset held for sale , net	27,322
Washington Group Plaza [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Asset held for sale	38,427
Secured Debt [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Deferred financing costs	$ 4,968

Schedule III - Summary of Real

Schedule III - Summary of Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Real Estate Properties
Balance, beginning of year	$ 589,376	$ 381,789
Acquisitions	228,214	223,167
Dispositions	(11,683)	(24,309)
Capital improvements	10,804	8,729
Assets held for sale	(40,410)
Balance, end of year	776,301	589,376
Accumulated depreciation
Balance, beginning of year	39,052	26,909
Depreciation	22,424	30,178
Depreciation on dispositions	(7,374)	(18,035)
Depreciation on assets held for sale	(5,868)
Balance, end of year	$ 48,234	$ 39,052