City Office REIT (CIO) 10-K 26 Feb 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Feb. 24, 2020	Jun. 30, 2019
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Registrant Name	City Office REIT, Inc.
Entity Central Index Key	0001593222
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		54,591,047
Entity Address, State or Province	BC
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 465.7
Common Stock [Member]
Document Information [Line Items]
Trading Symbol	CIO
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock
6.625% Series A Cumulative Redeemable Preferred Stock [Member]
Document Information [Line Items]
Trading Symbol	CIO.PrA
Security Exchange Name	NYSE
Title of 12(b) Security	6.625% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real estate properties
Land	$ 230,034	$ 223,789
Building and improvement	784,636	704,113
Tenant improvement	94,218	77,426
Furniture, fixtures and equipment	285	319
Real estate properties, gross	1,109,173	1,005,647
Accumulated depreciation	(101,835)	(70,484)
Real estate properties, net	1,007,338	935,163
Cash and cash equivalents	70,129	16,138
Restricted cash	17,394	17,007
Rents receivable, net	32,112	26,095
Deferred leasing costs, net	12,393	10,402
Acquired lease intangible assets, net	67,533	75,501
Other assets	17,061	2,755
Assets held for sale	4,514	17,370
Total Assets	1,228,474	1,100,431
Liabilities:
Debt	607,250	645,354
Accounts payable and accrued liabilities	28,786	25,892
Deferred rent	6,593	5,331
Tenant rent deposits	5,658	4,564
Acquired lease intangible liabilities, net	8,194	8,887
Other liabilities	22,794	11,148
Liabilities related to assets held for sale	67	878
Total Liabilities	679,342	702,054
Commitments and Contingencies (Note 10)
Equity:
6.625% Series A Preferred stock, $0.01 par value per share, 5,600,000 shares authorized, 4,480,000 issued and outstanding as of December 31, 2019 and 2018 respectively	112,000	112,000
Common stock, $0.01 par value, 100,000,000 shares authorized, 54,591,047 and 39,544,073 shares issued and outstanding as of December 31, 2019 and 2018 respectively	545	395
Additional paid-in capital	577,131	377,126
Accumulated deficit	(142,383)	(92,108)
Accumulated other comprehensive income	715
Total Stockholders' Equity	548,008	397,413
Non-controlling interests in properties	1,124	964
Total Equity	549,132	398,377
Total Liabilities and Equity	$ 1,228,474	$ 1,100,431

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
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	5,600,000
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	54,591,047	39,544,073
Common stock, shares outstanding	54,591,047	39,544,073

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Rental and other revenues	$ 156,297	$ 129,484	$ 106,487
Operating expenses:
Property operating expenses	57,316	49,872	42,886
General and administrative	11,066	8,137	6,792
Depreciation and amortization	59,159	52,352	41,594
Impairment of real estate		3,497
Total operating expenses	127,541	113,858	91,272
Operating income	28,756	15,626	15,215
Interest expense:
Contractual interest expense	(28,401)	(22,316)	(18,721)
Amortization of deferred financing costs and debt fair value	(1,325)	(1,621)	(1,452)
Interest expense, net	(29,726)	(23,937)	(20,173)
Net gain on sale of real estate property	3,412	46,980	12,116
Change in fair value of contingent consideration			2,000
Net income	2,442	38,669	9,158
Net income attributable to non-controlling interests in properties	(644)	(501)	(3,402)
Net income attributable to the Company	1,798	38,168	5,756
Preferred stock distributions	(7,420)	(7,420)	(7,411)
Net (loss)/income attributable to common stockholders	$ (5,622)	$ 30,748	$ (1,655)
Net (loss)/income per common share:
Basic	$ (0.13)	$ 0.82	$ (0.05)
Diluted	$ (0.13)	$ 0.82	$ (0.05)
Weighted average common shares outstanding:
Basic	43,997	37,321	30,198
Diluted	43,997	37,670	30,198
Dividend distributions declared per common share	$ 0.940	$ 0.940	$ 0.940

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 2,442	$ 38,669	$ 9,158
Unrealized cash flow hedge gains	821
Amounts reclassed from accumulated other comprehensive income to interest expense	(106)
Comprehensive income	3,157	38,669	9,158
Comprehensive income attributable to non-controlling interests in properties	(644)	(501)	(3,402)
Comprehensive income attributable to the Company	2,513	38,168	5,756
Preferred stock distributions	(7,420)	(7,420)	(7,411)
Comprehensive (loss)/income attributable to common stockholders	$ (4,907)	$ 30,748	$ (1,655)

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]	Accumulated Other Comprehensive Income [Member]	Total stockholders' equity [Member]	Operating Partnership Unitholders' Non-controlling Interests [Member]	Non-controlling Interests in Properties [Member]
Beginning balance at Dec. 31, 2016	$ 256,059	$ 112,000	$ 244	$ 195,566	$ (53,608)		$ 254,202	$ 108	$ 1,749
Beginning balance, shares at Dec. 31, 2016		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 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
Restricted stock award grants and vesting, values	$ 1,330		$ 1	1,641	(312)		1,330
Restricted stock award grants and vesting, shares			121,000
Net proceeds from sale of common stock, values	42,902		$ 34	42,868			42,902
Net proceeds from sale of common stock, shares			3,411,000
Common stock dividend distributions declared	(35,567)				(35,567)		(35,567)
Preferred stock dividend distributions declared	(7,420)				(7,420)		(7,420)
Minority interest buyout	(1,139)			(1,624)			(1,624)		485
Contributions	297								297
Distributions	(527)								(527)
Net income	38,669				38,168		38,168		501
Ending balance at Dec. 31, 2018	$ 398,377	$ 112,000	$ 395	377,126	(92,108)		397,413		964
Ending balance, shares at Dec. 31, 2018	39,544,073	4,480,000	39,544,000
Restricted stock award grants and vesting, values	$ 907		$ 1	1,280	(374)		907
Restricted stock award grants and vesting, shares			147,000
Net proceeds from sale of common stock, values	198,874		$ 149	198,725			198,874
Net proceeds from sale of common stock, shares			14,900,000
Common stock dividend distributions declared	(44,279)				(44,279)		(44,279)
Preferred stock dividend distributions declared	(7,420)				(7,420)		(7,420)
Contributions	112								112
Distributions	(596)								(596)
Net income	2,442				1,798		1,798		644
Unrealized cash flow hedge gains	715					$ 715	715
Ending balance at Dec. 31, 2019	$ 549,132	$ 112,000	$ 545	$ 577,131	$ (142,383)	$ 715	$ 548,008		$ 1,124
Ending balance, shares at Dec. 31, 2019	54,591,047	4,480,000	54,591,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net income	$ 2,442	$ 38,669	$ 9,158
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	59,159	52,352	41,594
Amortization of deferred financing costs and debt fair value	1,325	1,621	1,452
Amortization of above/below market leases	(27)	(182)	(337)
Increase in straight-line rent/expense	(5,233)	(4,703)	(2,820)
Non-cash stock compensation	1,742	1,416	1,671
Earn-out termination payment			(2,400)
Net gain on sale of real estate property	(3,412)	(46,980)	(12,116)
Impairment of real estate		3,497
Changes in non-cash working capital:
Rents receivable, net	(1,061)	(1,602)	(1,647)
Other assets	(330)	(353)	349
Accounts payable and accrued liabilities	(5,538)	(910)	670
Deferred rent	1,022	(834)	324
Tenant rent deposits	(590)	196	655
Net Cash Provided By Operating Activities	49,499	42,187	36,553
Cash Flows to Investing Activities:
Additions to real estate properties	(16,002)	(23,586)	(8,189)
Acquisition of real estate	(108,358)	(254,514)	(249,299)
Net proceeds from sale of real estate	46,364	84,839	18,479
Deferred leasing costs	(3,926)	(4,048)	(4,289)
Net Cash Used In Investing Activities	(81,922)	(197,309)	(243,298)
Cash Flows from Financing Activities:
Net proceeds from sale of common stock	198,874	42,902	136,941
Debt issuance and extinguishment costs	(1,008)	(2,963)	(3,202)
Proceeds from borrowings	154,750	398,749	392,340
Repayment of borrowings	(216,336)	(241,820)	(272,772)
Shares withheld for payment of taxes on restricted stock unit vesting	(832)	(87)
Minority interest buyout		(1,140)
Contributions from non-controlling interests in properties	112	297
Distributions to non-controlling interests in properties	(596)	(527)	(4,943)
Dividend distributions paid to stockholders and Operating Partnership unitholders	(48,163)	(42,158)	(36,256)
Net Cash Provided By Financing Activities	86,801	153,253	212,108
Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash	54,378	(1,869)	5,363
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	33,145	35,014	29,651
Cash, Cash Equivalents and Restricted Cash, End of Period	87,523	33,145	35,014
Reconciliation of Cash, Cash Equivalents and Restricted Cash:
Cash and Cash Equivalents, End of Period	70,129	16,138	12,301
Restricted Cash, End of Period	17,394	17,007	22,713
Cash, Cash Equivalents and Restricted Cash, End of Period	87,523	33,145	35,014
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	28,479	22,131	18,408
Purchases of additions in real estate properties included in accounts payable	6,489	6,791	2,616
Purchases of deferred leasing costs included in accounts payable	603	$ 654	$ 815
Debt assumed on acquisition of real estate	$ 22,473

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2019
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”) November 26, 2013 April 21, 2014 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, for years prior to 2019, any applicable alternative minimum tax.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
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. Leases We determine if an arrangement is a lease at inception. Operating and financing right-of-use s Right-of-use Right-of-use Right-of-use non-lease 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 28 50 Site improvement 4 20 Furniture, fixtures and equipment 4 10 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 8 re-elect Non-controlling The Company follows the provisions pertaining to non-controlling non-controlling non-controlling non-controlling 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, 2019 and December 31, 2018 and December 31, 2017. Diluted earnings per share is calculated after giving effect to all potential dilutive shares outstanding during the period. 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. For derivatives that qualify as hedging instruments, a company must designate the instruments as a fair value hedge, a cash flow hedge, or a hedge of a net investment in a foreign operation. 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 February 2016, the Financial Accounting Standards Board, or FASB, established Topic 842, Leases, by issuing Accounting Standards Update (“ASU”) No. 2016-02, on-balance No. 2018-01, No. 2018-10, No. 2018-11, Effective January 1, 2019, the Company adopted FASB ASU 2016-02, • Transition method practical expedient – permits the Company to use the effective date as the date of initial application. Upon adoption, the Company did not have a cumulative-effect adjustment to the opening balance of retained earnings. Financial information and disclosures for periods before January 1, 2019 were not updated. • Package of practical expedients – permits the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs. This allowed the Company to continue classifying its leases at transition in substantially the same manner. • Single component practical expedient – permits the Company to not separate lease and non-lease • Land easement practical expedient – permits the Company not to reassess under the new standard its prior conclusions about land easements. • Short-term lease practical expedient – permits the Company not to recognize leases with a term equal to or less than 12 months. Lessor Accounting The accounting for lessors under the new standard remained relatively unchanged with a few targeted updates impacting the Company, which included: (i) narrower definition of initial direct costs that requires certain costs to be expensed rather than capitalized, and (ii) provisions for uncollectible rents to be recorded as a reduction in revenue rather than as bad debt expense. Lessee Accounting The new standard requires lessees to recognize a right-of-use right-of

Rents Receivable, Net

Rents Receivable, Net	12 Months Ended
	Dec. 31, 2019
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, 2019 December 31, 2018 Billed receivables $ 2,880 $ 2,383 Straight-line receivables 29,232 23,712 Total rents receivable $ 32,112 $ 26,095 As of December 31, 2019, and 2018, the Company’s allowance for doubtful accounts was nomi n

Real Estate Investments

Real Estate Investments	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Real Estate Investments	4. Real Estate Investments Acquisitions During the years ended December 31, 2019, December 31, 2018 and December 31, 2017 the Company acquired the following properties: Property Date Acquired Percentage Owned 7601 Tech (1) September 2019 100 % Cascade Station June 2019 100 % Canyon Park February 2019 100 % Camelback Square December 2018 100 % Greenwood Blvd December 2018 100 % Circle Point Land December 2018 100 % The Quad July 2018 100 % Circle Point July 2018 100 % Pima Center April 2018 100 % Papago Tech October 2017 100 % Mission City and Sorrento Mesa September 2017 100 % 2525 McKinnon January 2017 100 % (1) Denver Tech is comprised of 7601 Tech, which was acquired in September 2019, and 7595 Tech (formerly “DTC Crossroads”). Each of the foregoing acquisitions were accounted for as asset acquisitions. The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the year ended December 31, 2019 (in thousands): Canyon Park Cascade 7601 Tech Total 2019 Land $ 7,098 $ — $ 10,865 $ 17,963 Buildings and improvements 36,619 25,141 25,677 87,437 Tenant improvements 1,797 2,080 3,858 7,735 Lease intangible assets 8,109 3,134 7,401 18,644 Other assets 10 3,164 293 3,467 Debt — (697 ) — (697 ) Accounts payable and other liabilities (1,266 ) (186 ) (668 ) (2,120 ) Lease intangible liabilities (1,297 ) (220 ) (79 ) (1,596 ) Net assets acquired $ 51,070 $ 32,416 $ 47,347 $ 130,833 Consideration paid on acquisitions was in the form of cash and debt. The acquisition of the Cascade Station property was partially funded through an assumption of debt with a pr incipal at closing The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the year ended December 31, 2018 (in thousands): Pima Center Circle Point The Quad Circle Point Greenwood Camelback Total December 31, 2018 Land $ — $ 8,744 $ 8,079 $ 4,937 $ 3,945 $ 11,738 $ 37,443 Buildings and improvements 42,235 33,708 38,060 — 23,741 35,532 173,276 Tenant improvements 2,898 5,393 1,798 — 2,278 2,390 14,757 Lease intangible assets 10,691 10,299 4,209 — 4,578 4,304 34,081 Other assets 95 25 15 — 15 10 160 Accounts payable and other liabilities (337 ) (1,157 ) (527 ) (72 ) (96 ) (421 ) (2,610 ) Lease intangible liabilities (129 ) (390 ) (1,247 ) — — (827 ) (2,593 ) Net assets acquired $ 55,453 $ 56,622 $ 50,387 $ 4,865 $ 34,461 $ 52,726 $ 254,514 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 McKinnon Mission City and Mesa Papago T Total December 31, 2017 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 Lease intangible assets 3,267 22,846 2,816 28,929 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 ) Net assets acquired $ 46,035 $ 170,275 $ 32,989 $ 249,299 Sale of Real Estate Property On December 12, 2019, the Company sold the Logan Tower property in Denver, Colorado for $ 12.6 2.9 On May 7, 2019, the Company sold the 10455 Pacific Center building of the Sorrento Mesa property in San Diego, California for $16.5 million, resulting in an aggregate gain of $0.5 million net of disposal-related costs, which has been classified as net gain on sale of real estate property in the consolidated statements of operations. On February 7, 2019, the Company sold the Plaza 25 property in Denver, Colorado for $17.9 million. No gain or loss was recognized on the sale as the property was carried at fair value less cost to sell on the date of disposition. On March 8, 2018, the Company sold the Washington Group Plaza property in Boise, Idaho for $86.5 million, resulting in an aggregate net gain of $47.0 million, net of $1.7 million in costs, which has been classified as net gain on sale of real estate property in the consolidated statements of operations. 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 12.1 2.0 Assets Held for Sale On May 10, 2019, the Company entered into a p s half non-refundable The property has been classified as held for sale as of December 31, 2019 (in thousands): December 31, 2019 Circle Point Real estate properties, net $ 4,514 Assets held for sale $ 4,514 Accounts payable, accrued expenses, deferred rent and tenant rent deposits (67 ) Liabilities related to assets held for sale $ (67 ) On November 30, 2018, the Company entered into a p s ale 3.5 0.5 non-refundable was O 7, The property was December 31, 2018 Plaza 25 Real estate properties, net $ 16,149 Deferred leasing costs, net 419 Acquired lease intangible assets, net 11 Rents receivable, prepaid expenses and other assets 791 Assets held for sale $ 17,370 Accounts payable, accrued expenses, deferred rent and tenant rent deposits (878 ) Liabilities related to assets held for sale $ ) Variable Interest Entities As of December 31, 2017 , s s As of December 31, 2019 and December 31, 2018 the Company did not have any variable interest entities.

Lease Intangibles

Lease Intangibles	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Lease Intangibles	5. Lease Intangibles Lease intangibles and the value of assumed lease obligations as of December 31, 2019 and December 31, 2018 were comprised as follows (in thousands): Lease Intangible Assets Lease Intangible Liabilities December 31, 2019 Above Market Leases Below Market (1) In Place Leasing Total Below Below Market (1) Total Cost $ 15,242 $ — $ 87,320 $ 36,048 $ 138,610 $ (13,878 ) $ (138 ) $ (14,016 ) Accumulated amortization (6,704 ) — (48,229 ) (16,144 ) (71,077 ) 5,782 40 5,822 $ 8,538 $ — $ 39,091 $ 19,904 $ 67,533 $ (8,096 ) $ (98 ) $ (8,194 ) Lease Intangible Assets Lease Intangible Liabilities December 31, 2018 Above Market Leases Below Market (1) In Place Leasing Total Below Below Market (1) Total Cost $ 10,595 $ 1,855 $ 82,474 $ 31,706 $ 126,630 $ (12,925 ) $ (138 ) $ (13,063 ) Accumulated amortization (4,800 ) (19 ) (34,273 ) (12,037 ) (51,129 ) 4,140 36 4,176 $ 5,795 $ 1,836 $ 48,201 $ 19,669 $ 75,501 $ (8,785 ) $ (102 ) $ (8,887 ) (1) For the below market ground lease asset the Company is the lessee, whereas, for the below market ground lease liability the Company is the lessor. Upon the adoption of Topic 842 on January 1, 2019, the Company derecognized the below market ground lease intangible asset related to one of its lessee ground leases and included the net carrying value of the intangible asset within the right-of-use The estimated aggregate amortization expense for lease intangibles for the five succeeding years and in the aggregate are as follows (in thousands): 2020 $ 18,987 2021 15,894 2022 8,217 2023 5,358 2024 3,190 Thereafter 7,693 $ 59,339

Debt

Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	6. Debt The following table summarizes the o utstanding Property December 31, December 31, Interest Rate as of December 31, (1) Maturity Unsecured Credit Facility (3)(4) $ — $ 147,500 LIBOR + 1.40 % (2) March 2022 Term Loan (4) 50,000 — LIBOR + 1.25 % (2) September 2024 Midland Life Insurance (5) 85,293 86,973 4.34 May 2021 Mission City 47,000 47,000 3.78 November 2027 Canyon Park (6) 40,950 — 4.30 March 2027 190 Office Center 40,854 41,250 4.79 October 2025 Circle Point 39,650 39,650 4.49 September 2028 SanTan 34,053 34,682 4.56 March 2027 Intellicenter 32,971 33,481 4.65 October 2025 The Quad 30,600 30,600 4.20 September 2028 FRP Collection (7) 28,969 29,589 3.10 September 2023 2525 McKinnon 27,000 27,000 4.24 April 2027 Greenwood Blvd (7) 22,425 22,425 3.15 December 2025 Cascade Station 22,304 — 4.55 May 2024 5090 N 40 th 22,000 22,000 3.92 January 2027 AmberGlen 20,000 20,000 3.69 May 2027 Lake Vista Pointe 17,717 18,044 4.28 August 2024 Central Fairwinds (8) 17,534 17,882 3.15 June 2024 FRP Ingenuity Drive 17,000 17,000 4.44 December 2024 Carillon Point (7) 15,972 16,330 3.10 October 2023 Total Principal 612,292 651,406 Deferred financing costs, net (5,660 ) (6,052 ) Unamortized fair value adjustments 618 — Total $ 607,250 $ 645,354 (1) All interest rates are fixed interest rates with the exception of the unsecured credit facility (“Unsecured Credit Facility”) and the term loan (“Term Loan”) as explained in footnotes 3 and 4 below. (2) As of December 31, 2019, the one month LIBOR rate was 1.76 %. (3) In March 2018, the Company entered into the Credit Agreement for our that provides for commitmen ts o f up to $ 250 million, allows million, subject to customary terms and conditions. The Unsecured Credit Facility matures in March 2022 a nd drawn and $7.0 million of letters of credit to satisfy escrow requirements for mortgage lenders. Borrowings under the Unsecured Credit Facility bear interest at a rate equal to the LIBOR rate plus a margin of between 140 to 225 basis points depending upon the Company’s consolidated leverage ratio. The Unsecured Credit Facility requires the Company to maintain a fixed charge coverage ratio of no less than 1.50 x. (4) In September 2019, the Company entered into a five-year under the Unsecured Credit Facility five-year for notional amount $ 50 million Pursuant to the Interest Rate Swap, the Company will pay a fixed rate of approximately 1.27% of the notional amount annually, payable monthly, and receive floating rate 30-day LIBOR payments. (5) The mortgage loan is cross-collateralized by Cherry Creek, City Center and 7595 Tech (formerly “DTC Crossroads”). Interest on mortgage loan is payable monthly plus principal based on 360 4.34 May 6, 2021 (6) The mortgage loan anticipated repayment date (“ARD”) is March 1, 2027. The final scheduled maturity date can be extended up to 5 years beyond the ARD. If the loan is not paid off at ARD, loan’s interest rate shall be adjusted to the greater of (i) the initial interest rate plus 200 basis points or (ii) the yield on the five year “on the run” treasury reported by Bloomberg market data service plus 450 basis points. (7) In August 2019, the Company entered into loan modification agreements for FRP Collection (part of Florida Research Park), Carillon Point and Greenwood Blvd reducing the interest rates from 3.85 % to 3.1 %, 3.5 % to 3.1 % and 4.6 % to 3.15 % respectively. (8) In September 2019, the Company entered into a loan modification agreement for Central Fairwinds reducing the interest rate from 4.0 % to 3.15 %. The scheduled principal repayments of mortgage payable as of December , are as follows (in thousands): 2020 $ 6,279 2021 89,355 2022 6,529 2023 48,529 2024 124,725 Thereafter 336,875 $ 612,292

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2019
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 In September 2019, the Company entered into the five-year Interest Rate Swap for a notional amount of 50.0 million. Pursuant to the Interest Rate Swap, the Company will pay a fixed rate of approximately 1.27 of the notional amount annually, payable monthly, and receive floating rate 30-day The Interest Rate Swap has been designated and qualifies as a cash flow hedge and has been recognized on the consolidated balance sheets at fair value. Gains and losses resulting from changes in the fair value of derivatives that have been designated and qualify as cash flow hedges are reported as a component of other comprehensive income (loss) and reclassified into earnings in the periods during which the hedged forecasted transaction affects earnings. As of December 31, 2019, the Interest Rate Swap was reported as an asset at its fair value of approximately $ 0.7 as $0.1 As of December 31, 2018, the Company did no 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 $ 576.9 503.3

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions Administrative Services Agreement s On October 29, 2018, the Company entered into the First Amendment (the “Amendment”) to the Administrative Services Agreement with real estate investment funds affiliated with Second City Capital II Corporate and Second City Real Estate II Corporation (“SCRE II”). The terms of the Amendment were effective on February 1, 2019 (the “Effective Date”). After February 1, 2019, the annual fees payable to the Company will be $500,000 for the first twelve months following the Effective Date and thereafter an amount equal to 40% of the management fee paid to SCRE II by the fund managed by SCRE II. During the years ended December 31 , 2019 , 2018 , and 2017 , the Company earned $0.5 million, $0.7 million, and $ 1.2 SCRE . Also during the year ended December 31, 2019, the Company was assigned a purchase contract which had been entered into by an entity affiliated with principals of Second City, which principals are also officers of the Company. The Company subsequently assigned the purchase contract to a third party. The Company paid no consideration to the related party for the contract other than return of deposits which the Company subsequently recovered from a third party in addition to an assignment fee. The Company recognized income of $2.6 million on the assignment of the purchase contract to the third party, which was recorded in rental and other revenues on the consolidated statement of operations. On July 31, 2019, an indirect, wholly-owned subsidiary of the Company entered into an administrative services agreement with Clarity Real Estate III GP, Limited Partnership and Clarity Real Estate Ventures GP, Limited Partnership (together, “Clarity”), entities affiliated with principals of Second City and officers of the Company. Pursuant to the Administrative Services Agreement, the Company will provide various administrative services and support to the related entities managing the Clarity funds. During the year ended December 31, 2019 , a e Earn-Out Payment 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 payments associated with the Central Fairwinds property in exchange for a cash payment of $2.4 million, which was made to Second City on February 21, 2017. Minority Interest Buy Out On August 1, 2018, the Company signed an agreement with Second City Capital Partners II, Limited Partnership (“SCCP”) whereby SCCP seven ,

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	9. Leases Lessor Accounting The Company is focused on acquiring, owning and operating high-quality office properties for lease to a stable and diverse tenant base. Our properties have both full-service gross a n non-lease For the year ended December 31, 2019, the Company recognized $153.5 million, respectively, of rental and other revenue related to its operating leases (in thousands): Year ended December 31, 2019 Fixed payments $ 132,540 Variable payments 20,990 $ 153,530 Future minimum lease payments to be received as of December 31, 2019 under noncancellable operating leases for the next five years and thereafter are as follows (in thousands): 2020 $ 116,513 2021 110,491 2022 94,800 2023 73,959 2024 53,905 Thereafter 113,580 $ 563,248 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. The Company’s leases may include various provisions such as scheduled rent increases, renewal options and termination options. The majority of the Company’s leases include defined rent increase rather than variable payments based on an index or unknown rate. One state government tenant currently has 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. This tenant represents approximately 7.3% of the Company’s total future minimum lease payments as of December 31, 2019. Lessee Accounting As a lessee, the Company has ground and office leases classified as operating leases and one office lease classified as a financing lease. Upon adoption of Topic 842, on January 1, 2019, the Company recognized right-of-use right-of-use right-of-use Operating and financing right-of-use assets and lease liabilities have been included within other assets and other liabilities on the Company’s consolidated balance sheet as follows (in thousands): As of December 31, 2019 Right-of-use $ 13,130 Lease liability – operating leases $ 8,033 Right-of-use $ 79 Lease liability – financing leases $ 79 Lease liabilities are measured at the commencement date based on the present value of future lease payments. One of the Company’s operating ground leases includes rental payment increases over the lease term based on increases in the Consumer Price Index (“CPI”). Changes in the CPI were not estimated as part of the measurement of the operating lease liability. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The Company used a weighted average discount rate of 6.3 Right-of-use Operating lease expense for the t welve 0.8 . Future minimum lease payments to be paid by the Company as a lessee as of December 31, 2019 for the next five years and thereafter are as follows (in thousands): Operating Financing 2020 $ 533 $ 27 2021 817 27 2022 798 27 2023 663 4 2024 597 — Thereafter 26,680 — Total future minimum lease payments 30,088 85 Discount (22,055 ) (6 ) Total $ 8,033 $ 79

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
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, 2019 ,

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	11. Earnings per Share The table below is a reconciliation of the numerators and denominators of the basic and diluted EPS computations for the years ended December 31, 2019, 2018, and 2017 (in thousands, except per share amounts): Year ended December 31, 2019 2018 2017 Net income $ 2,442 $ 38,669 $ 9,158 Less: Net income attributable to noncontrolling interests in properties (644 ) (501 ) (3,402 ) Less: Net income attributable to Preferred stockholders (7,420 ) (7,420 ) (7,411 ) Numerator for basic and diluted EPS $ (5,622 ) $ 30,748 $ (1,655) Denominator for basic EPS 43,997 37,321 30,198 Dilutive effect of RSUs — 349 — Denominator for dilutive EPS 43,997 37,670 30,198 Net (loss)/income per common share: Basic $ (0.13 ) $ 0.82 $ (0.05 ) Dilutive $ (0.13 ) $ 0.82 $ (0.05 )

Stockholder's Equity

Stockholder's Equity	12 Months Ended
	Dec. 31, 2019
Federal Home Loan Banks [Abstract]
Stockholder's Equity	12. Stockholder’s Equity On June 16, 2017, the Company and the Operating Partnership previously entered into the equity distribution agreements (collectively, the “ Original 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 shares of common stock and the Company’s 6.625% Series A Preferred Stock (the “Series A Preferred Stock”) through the Sales Agents, acting as agents or principals (the “ATM Program”). On November 1, 2018, the Company and the Operating Partnership entered into amendments (the “Amendments”) to the Original Agreements (as amended by the Amendments, the “EDAs”) with each of the Sales Agents to increase the number of shares of common stock issuable under the ATM Program. Pursuant to the terms of the EDAs, the Company may issue and sell from time to time, up to 8,000,000 shares of common stock and up to 1,000,000 shares of Series A pursuant to pursuant to the Original Agreements . C raised $43.6 million in gross proceeds, resulting in net proceeds to us of approximately $42.9 million after deducting sales commissions and offering expenses. The Company terminated the EDAs effective February 25, 2020. On October 7, 2019, the Company completed a public offering pursuant to which the Company sold 6,900,000 shares of its common stock, inclusive of the overallotment option . The Company raised $95.6 million in aggregate gross proceeds, resulting in aggregate net proceeds to the Company of approximately $94.1 million after deducting underwriting discounts and offering expenses. Non-controlling The following table summarizes the non-controlling December 31, 2019 December 31, 2018 City Center $ (147 ) $ (183 ) Central Fairwinds (314 ) (304 ) AmberGlen (1,141 ) (1,272 ) FRP Collection 851 791 Park Tower 1,875 1,932 $ 1,124 $ 964 Common Stock and Common Unit Distributions During the year ended December 31, 2019, the Company declared aggregate cash distributions to common stockholders and common unitholders of $44.3 million. The Company paid aggregate cash distributions of $40.7 million for the year-ended December 31, 2019 and $12.8 million was payable as of December 31, 2019. During the year ended December 31, 2019, the Company declared the following distributions per share and unit: Period Distribution per Share/Unit Declaration Date Record Date Payment Date January 1, 2019 – March 31, 2019 $ 0.235 March 15, 2019 April 11, 2019 April 25, 2019 April 1, 2019 – June 30, 2019 0.235 June 14, 2019 July 11, 2019 July 25, 2019 July 1, 2019 – September 30, 2019 0.235 September 16, 2019 October 11, 2019 October 25, 2019 October 1, 2019 – December 31, 2019 0.235 December 13, 2019 January 10, 2020 January 24, 20 20 Total $ 0.940 Preferred Stock Distributions During the year ended December 31, 2019, the Company declared aggregate cash distributions to preferred stockholders of $7.4 million. The Company paid aggregate cash distributions of $7.4 million for the year ended December 31, 2019 and $1.9 million was payable as of December 31, 2019. Restricted Stock Units The Company has an equity incentive plan ( as amended, “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”). On May 2, 2019, the Company’s stockholders approved an amendment to the Equity Incentive Plan increasing the maximum number of shares of common stock that may be issued under the Equity Incentive Plan from to 2,263,580 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, 2019, 162,500 restricted stock units (“RSUs”) were granted to directors, executive officers and non-executive During the year ended December 31, 2018, 156,375 RSUs were granted to directors, executive officers and non-executive During the year ended December 31, 2017, 117,478 RSUs were granted to directors, executive officers and non-executive For the year ended December 31, 2019, December 31, 2018 and December 31, 2017, the Company recognized net compensation expense of $1.7 million, $1.4 million and $1.7 million respectively related to the RSUs. 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.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	1 3 Quarterly Financial Information (unaudited):

Quarterly Financial Information

Quarterly Financial Information	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	1 3 Quarterly Financial Information (unaudited): The following tables summarize certain selected quarterly financial data for 2019 and 2018 (in thousands, except per share data). Summation of the individual quarters of net income/(loss) per share may not equal annual totals due to rounding. 2019 Quarters Fourth Third Second First Revenue $ 39,060 $ 38,946 $ 41,171 $ 37,120 Net income/(loss) 2,988 (947 ) 1,321 (920 ) Net income/(loss) attributable to common stockholders 987 (2,966 ) (699 ) (2,944 ) Net income/(loss) per share 0.02 (0.07 ) (0.02 ) (0.07 ) 2018 Quarters Fourth Third Second First Revenue $ 34,167 $ 33,547 $ 30,236 $ 31,534 Net (loss)/income (6,684 ) (1,161 ) (684 ) 47,198 Net (loss)/income attributable to common stockholders (8,656 ) (3,151 ) (2,653 ) 45,208 Net (loss)/income per share (0.22 ) (0.08 ) (0.07 ) 1.25

Schedule III - Real Estate Prop

Schedule III - Real Estate Properties and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in 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, 2019 (In t Intial Costs to Company Costs Capitalized Subsequent to Acquisition Gross Amount at Which Carried as of December 31 , 2019 (1) Description Encumbrances (2) Land Buildings and Improvements Improvements Land Building and Improvements Total (3) Accumulated Amortization Year Construction Year Acquired AmberGlen $ 20,000 $ 6,546 $ 3,490 $ 2,578 $ 6,546 $ 6,068 $ 12,614 $ 2,898 1984 1998 2009 City Center 22,965 3,123 10,656 9,790 3,123 20,446 23,569 7,484 1984 2010 Central Fairwinds 17,534 1,747 9,751 6,927 1,747 16,678 18,425 4,471 1982 2012 Cherry Creek 46,867 25,745 20,144 1,837 25,745 21,981 47,726 6,590 1962- 1980 2014 Lake Vista Pointe 17,717 4,115 20,600 178 4,115 20,778 24,893 5,171 2007 2014 Florida Research Park (4) 45,969 11,446 56,475 3,228 11,446 59,703 71,149 9,100 1999 2014; 2016 Superior Pointe — 3,153 19,834 1,810 3,153 21,644 24,797 3,452 2000 2015 Denver Tech (5) 15,461 18,002 52,719 1,679 18,002 54,398 72,400 4,314 1999; 1997 2015; 2019 190 Office Center 40,854 7,162 39,690 1,596 7,162 41,286 48,448 5,110 2001 2015 Intellicenter 32,971 5,244 34,278 69 5,244 34,347 39,591 4,726 2008 2015 Carillon Point 15,972 5,172 17,316 213 5,172 17,529 22,701 3,160 2007 2016 Park Tower — 3,479 68,656 15,513 3,479 84,169 87,648 9,617 1973 2016 5090 N 40th St 22,000 6,696 32,123 1,633 6,696 33,756 40,452 3,018 1988 2016 SanTan 34,053 6,803 37,187 4,556 6,803 41,743 48,546 5,180 2000 2003 2016 2525 McKinnon 27,000 10,629 34,515 1,778 10,629 36,293 46,922 2,846 2003 2017 Mission City 47,000 25,741 41,474 6,337 25,741 47,811 73,552 6,066 1990 2007 2017 Sorrento Mesa — 34,305 36,726 2,445 34,305 39,171 73,476 4,093 1985 2001 2017 Papago Tech — 10,746 19,762 709 10,746 20,471 31,217 2,169 1993 1995 2017 Pima Center — — 45,133 1,030 — 46,163 46,163 3,345 2006 2008 2018 Circle Point 39,650 9,320 39,101 1,581 9,320 40,682 50,002 3,036 2001 2018 The Quad 30,600 8,079 39,858 93 8,079 39,951 48,030 2,103 1982 2018 Greenwood Blvd 22,425 3,945 26,019 500 3,945 26,519 30,464 915 1997 2018 Camelback Square — 11,738 37,922 1,267 11,738 39,189 50,927 1,325 1978 2018 Canyon Park 40,950 7,098 38,416 2,691 7,098 41,107 48,205 1,046 1993; 1999 2019 Cascade Station 22,304 — 27,220 36 — 27,256 27,256 600 2008-2009 2019 Corporate 50,000 — — — — — — — Total $ 612,292 $ 230,034 $ 809,065 $ 70,074 $ 230,034 $ 879,139 $ 1,109,173 $ 101,835 (1) The aggregate cost for federal tax purposes as of December 31 , 2019 of our real estate assets a pproximately 1.1 billion. (2) Encumbrances exclude net deferred financing costs of $ 5,660 618 (3) Properties identified as held for sale at December 31 , 2019 are excluded. (4) Florida Research Park is ed (5) Denver Tech is d A summary of activity for real estate and accumulated depreciation for the year s ended December 31, 2019 and 2018 is as follows: 2019 2018 Real Estate Properties Balance, beginning of year $ 1,005,647 $ 776,301 Acquisitions 113,134 225,476 Dispositions and impairments (27,585 ) (5,715 ) Capital improvements 22,491 30,378 Assets held for sale (4,514 ) (20,793 ) Balance, end of year $ 1,109,173 $ 1,005,647 Accumulated Depreciation Balance, beginning of year $ 70,484 $ 48,234 Depreciation 35,531 29,196 Dispositions (4,180 ) (2,301 ) Depreciation on assets held for sale — (4,645 ) Balance, end of year $ 101,835 $ 70,484

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
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.
Leases	Leases We determine if an arrangement is a lease at inception. Operating and financing right-of-use s Right-of-use Right-of-use Right-of-use non-lease
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 28 50 Site improvement 4 20 Furniture, fixtures and equipment 4 10 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 8 re-elect
Non-controlling Interests	Non-controlling The Company follows the provisions pertaining to non-controlling non-controlling non-controlling non-controlling
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, 2019 and December 31, 2018 and December 31, 2017. Diluted earnings per share is calculated after giving effect to all potential dilutive shares outstanding during the period.
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. For derivatives that qualify as hedging instruments, a company must designate the instruments as a fair value hedge, a cash flow hedge, or a hedge of a net investment in a foreign operation.
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 February 2016, the Financial Accounting Standards Board, or FASB, established Topic 842, Leases, by issuing Accounting Standards Update (“ASU”) No. 2016-02, on-balance No. 2018-01, No. 2018-10, No. 2018-11, Effective January 1, 2019, the Company adopted FASB ASU 2016-02, • Transition method practical expedient – permits the Company to use the effective date as the date of initial application. Upon adoption, the Company did not have a cumulative-effect adjustment to the opening balance of retained earnings. Financial information and disclosures for periods before January 1, 2019 were not updated. • Package of practical expedients – permits the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs. This allowed the Company to continue classifying its leases at transition in substantially the same manner. • Single component practical expedient – permits the Company to not separate lease and non-lease • Land easement practical expedient – permits the Company not to reassess under the new standard its prior conclusions about land easements. • Short-term lease practical expedient – permits the Company not to recognize leases with a term equal to or less than 12 months. Lessor Accounting The accounting for lessors under the new standard remained relatively unchanged with a few targeted updates impacting the Company, which included: (i) narrower definition of initial direct costs that requires certain costs to be expensed rather than capitalized, and (ii) provisions for uncollectible rents to be recorded as a reduction in revenue rather than as bad debt expense. Lessee Accounting The new standard requires lessees to recognize a right-of-use right-of

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
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 28 50 Site improvement 4 20 Furniture, fixtures and equipment 4 10

Rents Receivable, Net (Tables)

Rents Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Text Block [Abstract]
Components of Rents Receivable	The Company’s rents receivable is comprised of the following components (in thousands): December 31, 2019 December 31, 2018 Billed receivables $ 2,880 $ 2,383 Straight-line receivables 29,232 23,712 Total rents receivable $ 32,112 $ 26,095

Real Estate Investments (Tables

Real Estate Investments (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Schedule of Acquired Properties	During the years ended December 31, 2019, December 31, 2018 and December 31, 2017 the Company acquired the following properties: Property Date Acquired Percentage Owned 7601 Tech (1) September 2019 100 % Cascade Station June 2019 100 % Canyon Park February 2019 100 % Camelback Square December 2018 100 % Greenwood Blvd December 2018 100 % Circle Point Land December 2018 100 % The Quad July 2018 100 % Circle Point July 2018 100 % Pima Center April 2018 100 % Papago Tech October 2017 100 % Mission City and Sorrento Mesa September 2017 100 % 2525 McKinnon January 2017 100 % (1) Denver Tech is comprised of 7601 Tech, which was acquired in September 2019, and 7595 Tech (formerly “DTC Crossroads”).
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, 2019 (in thousands): Canyon Park Cascade 7601 Tech Total 2019 Land $ 7,098 $ — $ 10,865 $ 17,963 Buildings and improvements 36,619 25,141 25,677 87,437 Tenant improvements 1,797 2,080 3,858 7,735 Lease intangible assets 8,109 3,134 7,401 18,644 Other assets 10 3,164 293 3,467 Debt — (697 ) — (697 ) Accounts payable and other liabilities (1,266 ) (186 ) (668 ) (2,120 ) Lease intangible liabilities (1,297 ) (220 ) (79 ) (1,596 ) Net assets acquired $ 51,070 $ 32,416 $ 47,347 $ 130,833 The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the year ended December 31, 2018 (in thousands): Pima Center Circle Point The Quad Circle Point Greenwood Camelback Total December 31, 2018 Land $ — $ 8,744 $ 8,079 $ 4,937 $ 3,945 $ 11,738 $ 37,443 Buildings and improvements 42,235 33,708 38,060 — 23,741 35,532 173,276 Tenant improvements 2,898 5,393 1,798 — 2,278 2,390 14,757 Lease intangible assets 10,691 10,299 4,209 — 4,578 4,304 34,081 Other assets 95 25 15 — 15 10 160 Accounts payable and other liabilities (337 ) (1,157 ) (527 ) (72 ) (96 ) (421 ) (2,610 ) Lease intangible liabilities (129 ) (390 ) (1,247 ) — — (827 ) (2,593 ) Net assets acquired $ 55,453 $ 56,622 $ 50,387 $ 4,865 $ 34,461 $ 52,726 $ 254,514 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 McKinnon Mission City and Mesa Papago T Total December 31, 2017 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 Lease intangible assets 3,267 22,846 2,816 28,929 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 ) Net assets acquired $ 46,035 $ 170,275 $ 32,989 $ 249,299
Schedule of Property Classified as Held for Sale	The property has been classified as held for sale as of December 31, 2019 (in thousands): December 31, 2019 Circle Point Real estate properties, net $ 4,514 Assets held for sale $ 4,514 Accounts payable, accrued expenses, deferred rent and tenant rent deposits (67 ) Liabilities related to assets held for sale $ (67 ) The property was December 31, 2018 Plaza 25 Real estate properties, net $ 16,149 Deferred leasing costs, net 419 Acquired lease intangible assets, net 11 Rents receivable, prepaid expenses and other assets 791 Assets held for sale $ 17,370 Accounts payable, accrued expenses, deferred rent and tenant rent deposits (878 ) Liabilities related to assets held for sale $ )

Lease Intangibles (Tables)

Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 and December 31, 2018 were comprised as follows (in thousands): Lease Intangible Assets Lease Intangible Liabilities December 31, 2019 Above Market Leases Below Market (1) In Place Leasing Total Below Below Market (1) Total Cost $ 15,242 $ — $ 87,320 $ 36,048 $ 138,610 $ (13,878 ) $ (138 ) $ (14,016 ) Accumulated amortization (6,704 ) — (48,229 ) (16,144 ) (71,077 ) 5,782 40 5,822 $ 8,538 $ — $ 39,091 $ 19,904 $ 67,533 $ (8,096 ) $ (98 ) $ (8,194 ) Lease Intangible Assets Lease Intangible Liabilities December 31, 2018 Above Market Leases Below Market (1) In Place Leasing Total Below Below Market (1) Total Cost $ 10,595 $ 1,855 $ 82,474 $ 31,706 $ 126,630 $ (12,925 ) $ (138 ) $ (13,063 ) Accumulated amortization (4,800 ) (19 ) (34,273 ) (12,037 ) (51,129 ) 4,140 36 4,176 $ 5,795 $ 1,836 $ 48,201 $ 19,669 $ 75,501 $ (8,785 ) $ (102 ) $ (8,887 )
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): 2020 $ 18,987 2021 15,894 2022 8,217 2023 5,358 2024 3,190 Thereafter 7,693 $ 59,339

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Summary of Outstanding Indebtness	The following table summarizes the o utstanding Property December 31, December 31, Interest Rate as of December 31, (1) Maturity Unsecured Credit Facility (3)(4) $ — $ 147,500 LIBOR + 1.40 % (2) March 2022 Term Loan (4) 50,000 — LIBOR + 1.25 % (2) September 2024 Midland Life Insurance (5) 85,293 86,973 4.34 May 2021 Mission City 47,000 47,000 3.78 November 2027 Canyon Park (6) 40,950 — 4.30 March 2027 190 Office Center 40,854 41,250 4.79 October 2025 Circle Point 39,650 39,650 4.49 September 2028 SanTan 34,053 34,682 4.56 March 2027 Intellicenter 32,971 33,481 4.65 October 2025 The Quad 30,600 30,600 4.20 September 2028 FRP Collection (7) 28,969 29,589 3.10 September 2023 2525 McKinnon 27,000 27,000 4.24 April 2027 Greenwood Blvd (7) 22,425 22,425 3.15 December 2025 Cascade Station 22,304 — 4.55 May 2024 5090 N 40 th 22,000 22,000 3.92 January 2027 AmberGlen 20,000 20,000 3.69 May 2027 Lake Vista Pointe 17,717 18,044 4.28 August 2024 Central Fairwinds (8) 17,534 17,882 3.15 June 2024 FRP Ingenuity Drive 17,000 17,000 4.44 December 2024 Carillon Point (7) 15,972 16,330 3.10 October 2023 Total Principal 612,292 651,406 Deferred financing costs, net (5,660 ) (6,052 ) Unamortized fair value adjustments 618 — Total $ 607,250 $ 645,354 (1) All interest rates are fixed interest rates with the exception of the unsecured credit facility (“Unsecured Credit Facility”) and the term loan (“Term Loan”) as explained in footnotes 3 and 4 below. (2) As of December 31, 2019, the one month LIBOR rate was 1.76 %. (3) In March 2018, the Company entered into the Credit Agreement for our that provides for commitmen ts o f up to $ 250 million, allows million, subject to customary terms and conditions. The Unsecured Credit Facility matures in March 2022 a nd drawn and $7.0 million of letters of credit to satisfy escrow requirements for mortgage lenders. Borrowings under the Unsecured Credit Facility bear interest at a rate equal to the LIBOR rate plus a margin of between 140 to 225 basis points depending upon the Company’s consolidated leverage ratio. The Unsecured Credit Facility requires the Company to maintain a fixed charge coverage ratio of no less than 1.50 x. (4) In September 2019, the Company entered into a five-year under the Unsecured Credit Facility five-year for notional amount $ 50 million Pursuant to the Interest Rate Swap, the Company will pay a fixed rate of approximately 1.27% of the notional amount annually, payable monthly, and receive floating rate 30-day LIBOR payments. (5) The mortgage loan is cross-collateralized by Cherry Creek, City Center and 7595 Tech (formerly “DTC Crossroads”). Interest on mortgage loan is payable monthly plus principal based on 360 4.34 May 6, 2021 (6) The mortgage loan anticipated repayment date (“ARD”) is March 1, 2027. The final scheduled maturity date can be extended up to 5 years beyond the ARD. If the loan is not paid off at ARD, loan’s interest rate shall be adjusted to the greater of (i) the initial interest rate plus 200 basis points or (ii) the yield on the five year “on the run” treasury reported by Bloomberg market data service plus 450 basis points. (7) In August 2019, the Company entered into loan modification agreements for FRP Collection (part of Florida Research Park), Carillon Point and Greenwood Blvd reducing the interest rates from 3.85 % to 3.1 %, 3.5 % to 3.1 % and 4.6 % to 3.15 % respectively. (8) In September 2019, the Company entered into a loan modification agreement for Central Fairwinds reducing the interest rate from 4.0 % to 3.15 %.
Schedule of Principal Repayments of Mortgage Payable	The scheduled principal repayments of mortgage payable as of December , are as follows (in thousands): 2020 $ 6,279 2021 89,355 2022 6,529 2023 48,529 2024 124,725 Thereafter 336,875 $ 612,292

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Operating Lease Lease Income	For the year ended December 31, 2019, the Company recognized $153.5 million, respectively, of rental and other revenue related to its operating leases (in thousands): Year ended December 31, 2019 Fixed payments $ 132,540 Variable payments 20,990 $ 153,530
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments to be received as of December 31, 2019 under noncancellable operating leases for the next five years and thereafter are as follows (in thousands): 2020 $ 116,513 2021 110,491 2022 94,800 2023 73,959 2024 53,905 Thereafter 113,580 $ 563,248
Schedule Of Supplemental Balance Sheet Information Related To Leases	Operating and financing right-of-use assets and lease liabilities have been included within other assets and other liabilities on the Company’s consolidated balance sheet as follows (in thousands): As of December 31, 2019 Right-of-use $ 13,130 Lease liability – operating leases $ 8,033 Right-of-use $ 79 Lease liability – financing leases $ 79
Schedule future minimum lease payments to be paid	Future minimum lease payments to be paid by the Company as a lessee as of December 31, 2019 for the next five years and thereafter are as follows (in thousands): Operating Financing 2020 $ 533 $ 27 2021 817 27 2022 798 27 2023 663 4 2024 597 — Thereafter 26,680 — Total future minimum lease payments 30,088 85 Discount (22,055 ) (6 ) Total $ 8,033 $ 79

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Summary of Reconciliation of Numerators and Denominators of Basic and Diluted Per-Share Computations	The table below is a reconciliation of the numerators and denominators of the basic and diluted EPS computations for the years ended December 31, 2019, 2018, and 2017 (in thousands, except per share amounts): Year ended December 31, 2019 2018 2017 Net income $ 2,442 $ 38,669 $ 9,158 Less: Net income attributable to noncontrolling interests in properties (644 ) (501 ) (3,402 ) Less: Net income attributable to Preferred stockholders (7,420 ) (7,420 ) (7,411 ) Numerator for basic and diluted EPS $ (5,622 ) $ 30,748 $ (1,655) Denominator for basic EPS 43,997 37,321 30,198 Dilutive effect of RSUs — 349 — Denominator for dilutive EPS 43,997 37,670 30,198 Net (loss)/income per common share: Basic $ (0.13 ) $ 0.82 $ (0.05 ) Dilutive $ (0.13 ) $ 0.82 $ (0.05 )

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Federal Home Loan Banks [Abstract]
Summary of Noncontrolling Interests	The following table summarizes the non-controlling December 31, 2019 December 31, 2018 City Center $ (147 ) $ (183 ) Central Fairwinds (314 ) (304 ) AmberGlen (1,141 ) (1,272 ) FRP Collection 851 791 Park Tower 1,875 1,932 $ 1,124 $ 964
Schedule of Distributions Declared per Share and Unit	During the year ended December 31, 2019, the Company declared the following distributions per share and unit: Period Distribution per Share/Unit Declaration Date Record Date Payment Date January 1, 2019 – March 31, 2019 $ 0.235 March 15, 2019 April 11, 2019 April 25, 2019 April 1, 2019 – June 30, 2019 0.235 June 14, 2019 July 11, 2019 July 25, 2019 July 1, 2019 – September 30, 2019 0.235 September 16, 2019 October 11, 2019 October 25, 2019 October 1, 2019 – December 31, 2019 0.235 December 13, 2019 January 10, 2020 January 24, 20 20 Total $ 0.940

Quarterly Financial Informati_2

Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Summary of Selected Quarterly Financial Data	The following tables summarize certain selected quarterly financial data for 2019 and 2018 (in thousands, except per share data). Summation of the individual quarters of net income/(loss) per share may not equal annual totals due to rounding. 2019 Quarters Fourth Third Second First Revenue $ 39,060 $ 38,946 $ 41,171 $ 37,120 Net income/(loss) 2,988 (947 ) 1,321 (920 ) Net income/(loss) attributable to common stockholders 987 (2,966 ) (699 ) (2,944 ) Net income/(loss) per share 0.02 (0.07 ) (0.02 ) (0.07 ) 2018 Quarters Fourth Third Second First Revenue $ 34,167 $ 33,547 $ 30,236 $ 31,534 Net (loss)/income (6,684 ) (1,161 ) (684 ) 47,198 Net (loss)/income attributable to common stockholders (8,656 ) (3,151 ) (2,653 ) 45,208 Net (loss)/income per share (0.22 ) (0.08 ) (0.07 ) 1.25

Organization and Description _2

Organization and Description of Business - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company formation date	Nov. 26, 2013
Operation commencement date	Apr. 21, 2014

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Real Estate Properties (Detail)	12 Months Ended
	Dec. 31, 2019
Minimum [Member] | Building [Member]
Property, Plant and Equipment [Line Items]
Real estate properties estimated useful lives	28 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] | Building [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	20 years
Maximum [Member] | Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Real estate properties estimated useful lives	10 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019
Summary of Significant Accounting Policies [Line Items]
Percentage of REIT taxable income distributed to stockholders	90.00%

Rents Receivable, Net - Compone

Rents Receivable, Net - Components of Rents Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivable, Net, Current [Abstract]
Billed receivables	$ 2,880	$ 2,383
Straight-line receivables	29,232	23,712
Total rents receivable	$ 32,112	$ 26,095

Real Estate Investments - Sched

Real Estate Investments - Schedule of Acquired Properties through Operating Partnership (Detail)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
7601 Tech [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions	[1]	2019-09
Real estate property, percentage owned, asset acquisitions	[1]	100.00%
Canyon Park [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions		2019-02
Real estate property, percentage owned, asset acquisitions		100.00%
Cascade Station [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions		2019-06
Real estate property, percentage owned, asset acquisitions		100.00%
Camelback Square [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions			2018-12
Real estate property, percentage owned, asset acquisitions			100.00%
Greenwood Blvd [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions			2018-12
Real estate property, percentage owned, asset acquisitions			100.00%
Circle Point Land [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions			2018-12
Real estate property, percentage owned, asset acquisitions			100.00%
The Quad [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions			2018-07
Real estate property, percentage owned, asset acquisitions			100.00%
Circle Point [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions			2018-07
Real estate property, percentage owned, asset acquisitions			100.00%
Pima Center [Member]
Acquisitions [Line Items]
Real estate property, date acquired, asset acquisitions			2018-04
Real estate property, percentage owned, asset acquisitions			100.00%
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%
[1]	Denver Tech is comprised of 7601 Tech, which was acquired in September 2019, and 7595 Tech (formerly “DTC Crossroads”).

Real Estate Investments - Sch_2

Real Estate Investments - Schedule of Allocation of Purchase Price of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Acquisitions [Line Items]
Land	$ 17,963	$ 37,443	$ 87,472
Buildings and improvements	87,437	173,276	128,898
Tenant improvements	7,735	14,757	11,844
Lease intangible assets	18,644	34,081	28,929
Other assets	3,467	160	150
Debt	(697)
Accounts payable and other liabilities	(2,120)	(2,610)	(1,943)
Lease intangible liabilities	(1,596)	(2,593)	(6,051)
Net assets acquired	130,833	254,514	249,299
7601 Tech [Member]
Acquisitions [Line Items]
Land	10,865
Buildings and improvements	25,677
Tenant improvements	3,858
Lease intangible assets	7,401
Other assets	293
Accounts payable and other liabilities	(668)
Lease intangible liabilities	(79)
Net assets acquired	47,347
Canyon Park [Member]
Acquisitions [Line Items]
Land	7,098
Buildings and improvements	36,619
Tenant improvements	1,797
Lease intangible assets	8,109
Other assets	10
Accounts payable and other liabilities	(1,266)
Lease intangible liabilities	(1,297)
Net assets acquired	51,070
Cascade Station [Member]
Acquisitions [Line Items]
Buildings and improvements	25,141
Tenant improvements	2,080
Lease intangible assets	3,134
Other assets	3,164
Debt	(697)
Accounts payable and other liabilities	(186)
Lease intangible liabilities	(220)
Net assets acquired	$ 32,416
Pima Center [Member]
Acquisitions [Line Items]
Buildings and improvements		42,235
Tenant improvements		2,898
Lease intangible assets		10,691
Other assets		95
Accounts payable and other liabilities		(337)
Lease intangible liabilities		(129)
Net assets acquired		55,453
Circle Point [Member]
Acquisitions [Line Items]
Land		8,744
Buildings and improvements		33,708
Tenant improvements		5,393
Lease intangible assets		10,299
Other assets		25
Accounts payable and other liabilities		(1,157)
Lease intangible liabilities		(390)
Net assets acquired		56,622
The Quad [Member]
Acquisitions [Line Items]
Land		8,079
Buildings and improvements		38,060
Tenant improvements		1,798
Lease intangible assets		4,209
Other assets		15
Accounts payable and other liabilities		(527)
Lease intangible liabilities		(1,247)
Net assets acquired		50,387
Circle Point Land [Member]
Acquisitions [Line Items]
Land		4,937
Accounts payable and other liabilities		(72)
Net assets acquired		4,865
Greenwood Blvd [Member]
Acquisitions [Line Items]
Land		3,945
Buildings and improvements		23,741
Tenant improvements		2,278
Lease intangible assets		4,578
Other assets		15
Accounts payable and other liabilities		(96)
Net assets acquired		34,461
Camelback Square [Member]
Acquisitions [Line Items]
Land		11,738
Buildings and improvements		35,532
Tenant improvements		2,390
Lease intangible assets		4,304
Other assets		10
Accounts payable and other liabilities		(421)
Lease intangible liabilities		(827)
Net assets acquired		$ 52,726
2525 McKinnon [Member]
Acquisitions [Line Items]
Land			10,629
Buildings and improvements			33,357
Tenant improvements			1,158
Lease intangible assets			3,267
Accounts payable and other liabilities			(190)
Lease intangible liabilities			(2,186)
Net assets acquired			46,035
Mission City and Sorrento Mesa [Member]
Acquisitions [Line Items]
Land			66,097
Buildings and improvements			78,072
Tenant improvements			8,393
Lease intangible assets			22,846
Other assets			140
Accounts payable and other liabilities			(1,507)
Lease intangible liabilities			(3,766)
Net assets acquired			170,275
Papago Tech [Member]
Acquisitions [Line Items]
Land			10,746
Buildings and improvements			17,469
Tenant improvements			2,293
Lease intangible assets			2,816
Other assets			10
Accounts payable and other liabilities			(246)
Lease intangible liabilities			(99)
Net assets acquired			$ 32,989

Real Estate Investments - Addit

Real Estate Investments - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 12, 2019	May 10, 2019	May 07, 2019	Feb. 07, 2019	Nov. 30, 2018	Mar. 08, 2018	May 02, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Net gain on sale of real estate property								$ 3,412	$ 46,980	$ 12,116
Impairment charge									3,497
Debt Assumed								22,473
Washington Group Plaza [Member]
Real Estate [Line Items]
Proceeds of sale of property						$ 86,500
Net gain on sale of real estate property						47,000
Cost incurred on property sold						$ 1,700
AmberGlen Property [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
Plaza 25 [Member]
Real Estate [Line Items]
Proceeds of sale of property				$ 17,900	$ 17,900
Non-refundable deposit received									500
Impairment charge									$ 3,500
Sorrento Mesa [Member]
Real Estate [Line Items]
Proceeds of sale of property			$ 16,500
Net gain on sale of real estate property			$ 500
Cascade Station [Member]
Real Estate [Line Items]
Debt Assumed								$ 22,500
Circle Point Land [Member]
Real Estate [Line Items]
Proceeds of sale of property		$ 6,500
Logan Tower [Member]
Real Estate [Line Items]
Proceeds of sale of property	$ 12,600
Net gain on sale of real estate property	$ 2,900

Real Estate Investments - Sch_3

Real Estate Investments - Schedule of Property Classified as Held for Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	$ 4,514	$ 17,370
Liabilities related to assets held for sale	(67)	(878)
Plaza 25 [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale		17,370
Liabilities related to assets held for sale		(878)
Plaza 25 [Member] | Real estate properties, net [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale		16,149
Plaza 25 [Member] | Deferred leasing costs, net [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale		419
Plaza 25 [Member] | Acquired lease intangible assets, net [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale		11
Plaza 25 [Member] | Rents receivable, prepaid expenses and other assets [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale		791
Plaza 25 [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		$ (878)
Circle Point Land [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	4,514
Liabilities related to assets held for sale	(67)
Circle Point Land [Member] | Real estate properties, net [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	4,514
Circle Point Land [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	$ (67)

Lease Intangibles - Schedule of

Lease Intangibles - Schedule of Lease Intangibles and Value of Assumed Lease Obligations (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Assets	$ 138,610	$ 126,630
Accumulated amortization, Lease Intangible Assets	(71,077)	(51,129)
Total, Lease Intangible Assets	67,533	75,501
Cost, Lease Intangible Liabilities	(14,016)	(13,063)
Accumulated amortization, Lease Intangible Liabilities	5,822	4,176
Total, Lease Intangible Liabilities	(8,194)	(8,887)
Above Market Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Assets	15,242	10,595
Accumulated amortization, Lease Intangible Assets	(6,704)	(4,800)
Total, Lease Intangible Assets	8,538	5,795
Below Market Ground Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Assets		1,855
Accumulated amortization, Lease Intangible Assets		(19)
Total, Lease Intangible Assets		1,836
In Place Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Assets	87,320	82,474
Accumulated amortization, Lease Intangible Assets	(48,229)	(34,273)
Total, Lease Intangible Assets	39,091	48,201
Leasing Commissions [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Assets	36,048	31,706
Accumulated amortization, Lease Intangible Assets	(16,144)	(12,037)
Total, Lease Intangible Assets	19,904	19,669
Below Market Tenant Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Liabilities	(13,878)	(12,925)
Accumulated amortization, Lease Intangible Liabilities	5,782	4,140
Total, Lease Intangible Liabilities	(8,096)	(8,785)
Below Market Ground Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Cost, Lease Intangible Liabilities	(138)	(138)
Accumulated amortization, Lease Intangible Liabilities	40	36
Total, Lease Intangible Liabilities	$ (98)	$ (102)

Lease Intangibles - Estimated A

Lease Intangibles - Estimated Aggregate Amortization Expense for Lease Intangibles (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 18,987
2021	15,894
2022	8,217
2023	5,358
2024	3,190
Thereafter	7,693
Total	$ 59,339

Debt - Summary of Outstanding I

Debt - Summary of Outstanding Indebtedness (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Indebtedness	$ 612,292	$ 651,406
Deferred financing costs, net	(5,660)	(6,052)
Unamortized fair value adjustments	618
Total	607,250	645,354
Unsecured Debt [Member] | Term loan [Member]
Debt Instrument [Line Items]
Indebtedness	$ 50,000
Interest Rate, spread	1.25%
Maturity	2024-09
Credit Facility [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Indebtedness		147,500
Interest Rate, spread	1.40%
Maturity	2022-03
Midland Life Insurance [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 85,293	86,973
Interest Rate	4.34%
Maturity	2021-05
Mission City [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 47,000	47,000
Interest Rate	3.78%
Maturity	2027-11
190 Office Center [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 40,854	41,250
Interest Rate	4.79%
Maturity	2025-10
Canyon Park [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 40,950
Interest Rate	4.30%
Maturity	2027-03
Circle Point [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 39,650	39,650
Interest Rate	4.49%
Maturity	2028-09
SanTan [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 34,053	34,682
Interest Rate	4.56%
Maturity	2027-03
Intellicenter [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 32,971	33,481
Interest Rate	4.65%
Maturity	2025-10
The Quad [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 30,600	30,600
Interest Rate	4.20%
Maturity	2028-09
FRP Collection [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 28,969	29,589
Interest Rate	3.10%
Maturity	2023-09
2525 McKinnon [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 27,000	27,000
Interest Rate	4.24%
Maturity	2027-04
Cascade Station [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 22,304
Interest Rate	4.55%
Maturity	2024-05
Greenwood Blvd [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 22,425	22,425
Interest Rate	3.15%
Maturity	2025-12
5090 N 40th St [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 22,000	22,000
Interest Rate	3.92%
Maturity	2027-01
AmberGlen Property [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 20,000	20,000
Interest Rate	3.69%
Maturity	2027-05
Lake Vista Pointe [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 17,717	18,044
Interest Rate	4.28%
Maturity	2024-08
Central Fairwinds [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 17,534	17,882
Interest Rate	3.15%
Maturity	2024-06
FRP Ingenuity Drive [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 17,000	17,000
Interest Rate	4.44%
Maturity	2024-12
Carillon Point [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Indebtedness	$ 15,972	$ 16,330
Interest Rate	3.10%
Maturity	2023-10

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Indebtedness (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Sep. 30, 2019	Dec. 31, 2019	Sep. 24, 2019	Aug. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Term loan		$ 50
Minimum [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, authorized amount		250
Maximum [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, authorized amount		$ 300
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt Term		5 years
Debt interest Rate		1.27%
Frequency of Payment		payable monthly
Unsecured Debt [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Term loan			$ 50
Unsecured Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			1.50%
Midland Life Insurance [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Loan maturity date			May 6, 2021
Amortization period			360 months
Interest Rate			4.34%
FRP Collection [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Interest Rate					3.10%	3.85%
Greenwood Blvd [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Interest Rate					3.15%	4.60%
Central Fairwinds [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Interest Rate				3.15%		4.00%
Carillon Point [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Interest Rate					3.10%	3.50%
Canyon Park [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Debt Term			5 years
Canyon Park [Member] | Secured Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest Rate, Description			200.00%
Canyon Park [Member] | Secured Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest Rate, Description			450.00%
Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, outstanding			$ 7
Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest Rate, Description			125.00%
Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest Rate, Description			215.00%
Credit Facility [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, authorized amount	$ 250
Revolving Credit Facility, outstanding			$ 0
Loan maturity date	Mar. 31, 2022
Loan expected extended maturity date	Mar. 31, 2023
Revolving Credit Facility, maximum borrowing capacity	$ 500
Interest Rate, Description			1.40%
Credit Facility [Member] | Unsecured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest Rate, Description			1.50%
One month LIBOR rate			1.76%
Credit Facility [Member] | Unsecured Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio			1.50%
Credit Facility [Member] | Unsecured Debt [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest Rate, Description			140.00%
Credit Facility [Member] | Unsecured Debt [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest Rate, Description			225.00%

Debt - Schedule of Principal Re

Debt - Schedule of Principal Repayments of Mortgage Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 6,279
2021	89,355
2022	6,529
2023	48,529
2024	124,725
Thereafter	336,875
Total	$ 612,292	$ 651,406

Fair Value of Financial Instr_2

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Hedges or derivatives			$ 0
Interest rate swap gain reclassified to interest expense	$ (106,000)
Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount		$ 50,000,000
Fixed interest rate		1.27%
Interest rate swap gain reclassified to interest expense	100,000
Interest Rate Swap [Member] | Other Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets fair value	700,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans payable, fair value	$ 576,900,000		$ 503,300,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Feb. 01, 2019	Oct. 29, 2018	Aug. 01, 2018	Feb. 21, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Percentage minority interest owned, acquired			7.00%
Central Fairwinds Limited Partnership [Member]
Related Party Transaction [Line Items]
Percentage minority interest owned					97.00%
Administrative Services Agreement [Member] | SCRE II [Member]
Related Party Transaction [Line Items]
Agreement entered date		Oct. 29, 2018
Agreement effective date		Feb. 1, 2019
Administrative Services Agreement [Member] | SCRE II [Member] | First Twelve Months [Member]
Related Party Transaction [Line Items]
Annual payment receivable for services	$ 500,000
Administrative Services Agreement [Member] | SCRE II [Member] | Thereafter [Member]
Related Party Transaction [Line Items]
Management fee paid percentage	40.00%
Administrative Services Agreement [Member] | Second City Funds [Member]
Related Party Transaction [Line Items]
Annual payment receivable for services					$ 500,000	$ 700,000	$ 1,200,000
Termination and Mutual Release Agreement - Earn-Out [Member] | Second City Funds [Member]
Related Party Transaction [Line Items]
Purchase from related parties				$ 2,400,000
Central Fairwinds Limited Partnership Minority Interest Purchase Agreements [Member] | Second City Funds [Member]
Related Party Transaction [Line Items]
Related party transaction			$ 1,100,000
Purchase Contracts [Member] | Rental and other revenues [Member]
Related Party Transaction [Line Items]
Annual payment receivable for services					$ 2,600,000

Leases - Additional Information

Leases - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Lease cost	$ 800
Operating Lease, Liability	$ 8,033
Operating Lease, Weighted Average Remaining Lease Term	56 years
Operating Lease, Weighted Average Discount Rate, Percent	6.30%
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset	$ 9,200
Operating Lease, Liability	$ 7,200
Maximum [Member]
Remaining lease terms	69 years
Minimum [Member]
Remaining lease terms	2 years

Leases - Schedule of Operating

Leases - Schedule of Operating Leases (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Fixed payments	$ 132,540
Variable payments	20,990
Operating Lease, Lease Income	$ 153,530

Leases - Schedule of Operatin_2

Leases - Schedule of Operating Leases (Paranthetical) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Operating Lease, Lease Income	$ 153,530

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments under Non-cancellable Operating Leases (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 116,513
2021	110,491
2022	94,800
2023	73,959
2024	53,905
Thereafter	113,580
Total future minimum lease payments to be received	$ 563,248

Leases - Schedule of Operatin_3

Leases - Schedule of Operating Right-of-Use Assets and Lease Liabilities (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Lease liability – operating leases	$ 8,033
Lease liability – financing leases	79
Other Assets [Member]
Right-of-use asset - operating leases	13,130
Right-of-use asset – financing leases	79
Other Liabilities [Member]
Lease liability – operating leases	8,033
Lease liability – financing leases	$ 79

Leases - Schedule Future Minimu

Leases - Schedule Future Minimum Lease Payments To Be Paid (Detail) $ in Thousands	Dec. 31, 2019USD ($)
2020	$ 533
2021	817
2022	798
2023	663
2024	597
Thereafter	26,680
Total future minimum lease payments	30,088
Discount	(22,055)
Total	8,033
2020	27
2021	27
2022	27
2023	4
Total future minimum lease payments	85
Discount	(6)
Total	$ 79

Earnings Per Share - Summary of

Earnings Per Share - Summary of Reconciliation of Numerators and Denominators of Basic and Diluted Per-Share Computations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share Reconciliation [Abstract]
Net income	$ 2,988	$ (947)	$ 1,321	$ (920)	$ (6,684)	$ (1,161)	$ (684)	$ 47,198	$ 2,442	$ 38,669	$ 9,158
Less: Net income attributable to noncontrolling interests in properties									(644)	(501)	(3,402)
Less: Net income attributable to Preferred stockholders									(7,420)	(7,420)	(7,411)
Net (loss)/income attributable to common stockholders	$ 987	$ (2,966)	$ (699)	$ (2,944)	$ (8,656)	$ (3,151)	$ (2,653)	$ 45,208	$ (5,622)	$ 30,748	$ (1,655)
Denominator for basic EPS									43,997	37,321	30,198
Dilutive effect of RSUs										349
Denominator for dilutive EPS									43,997	37,670	30,198
Net (loss)/income per common share:
Basic									$ (0.13)	$ 0.82	$ (0.05)
Dilutive									$ (0.13)	$ 0.82	$ (0.05)

Stockholder's Equity - Addition

Stockholder's Equity - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 07, 2019	Jun. 16, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	May 02, 2019	Mar. 31, 2019	Nov. 01, 2018
Class of Stock [Line Items]
Common stock, shares authorized			100,000,000	100,000,000
Preferred stock, shares authorized			5,600,000	5,600,000
Preferred stock, Dividend rate percentage			6.625%	6.625%
Net proceeds from sale of common stock			$ 198,874	$ 42,902	$ 136,941
Maximum number of shares issued under Equity Incentive Plan						2,263,580	1,263,580
Sales Agreement [Member]
Class of Stock [Line Items]
Common stock, shares authorized								8,000,000
Preferred stock, shares authorized								1,000,000
Net proceeds from sale of common stock			$ 104,800	$ 42,900
Percentage of compensation from gross proceeds of shares sold		2.00%
Sales Agreement [Member] | Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, Dividend rate percentage		6.625%
Public Offering [Member]
Class of Stock [Line Items]
Stock, shares issued	6,900,000
Gross proceeds from sale of stock	$ 95,600
Common Stock [Member]
Class of Stock [Line Items]
Stock, shares issued			14,900,000	3,411,000	11,500,000
Aggregate cash distributions payable			$ 12,800
Common Stock [Member] | Sales Agreement [Member]
Class of Stock [Line Items]
Stock, shares issued			8,000,000	3,410,802
Gross proceeds from sale of stock			$ 106,500	$ 43,600
Net proceeds from sale of common stock	$ 94,100
Common Stock [Member] | Dividend Declared [Member]
Class of Stock [Line Items]
Cash distributions			44,300
Common Stock [Member] | Dividend Paid [Member]
Class of Stock [Line Items]
Cash distributions			40,700
Preferred Stock [Member]
Class of Stock [Line Items]
Aggregate cash distributions payable			1,900
Preferred Stock [Member] | Dividend Declared [Member]
Class of Stock [Line Items]
Cash distributions			7,400
Preferred Stock [Member] | Dividend Paid [Member]
Class of Stock [Line Items]
Cash distributions			7,400
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Net compensation expense			$ 1,700	$ 1,400	$ 1,700
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			162,500	156,375	117,478
Restricted stock units grant date fair value			$ 1,800	$ 1,900	$ 1,500

Stockholder's Equity - Summary

Stockholder's Equity - Summary of Noncontrolling Interests in Properties (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	$ 1,124	$ 964
City Center [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	(147)	(183)
Central Fairwinds [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	(314)	(304)
AmberGlen Property [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	(1,141)	(1,272)
FRP Collection [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	851	791
Park Tower [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests in properties	$ 1,875	$ 1,932

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of Distributions Declared per Share and Unit (Detail) - $ / shares	3 Months Ended				12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Dividends Payable [Line Items]
Distribution per Common Share/Unit	$ 0.235	$ 0.235	$ 0.235	$ 0.235	$ 0.940	$ 0.940	$ 0.940
Common Stock [Member]
Dividends Payable [Line Items]
Declaration Date	Dec. 13, 2019	Sep. 16, 2019	Jun. 14, 2019	Mar. 15, 2019
Record Date	Jan. 10, 2020	Oct. 11, 2019	Jul. 11, 2019	Apr. 11, 2019
Payment Date	Jan. 24, 2020	Oct. 25, 2019	Jul. 25, 2019	Apr. 25, 2019

Quarterly Financial Informati_3

Quarterly Financial Information - Summary of Selected Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 39,060	$ 38,946	$ 41,171	$ 37,120	$ 34,167	$ 33,547	$ 30,236	$ 31,534	$ 156,297	$ 129,484	$ 106,487
Net income/(loss)	2,988	(947)	1,321	(920)	(6,684)	(1,161)	(684)	47,198	2,442	38,669	9,158
Net income/(loss) attributable to common stockholders	$ 987	$ (2,966)	$ (699)	$ (2,944)	$ (8,656)	$ (3,151)	$ (2,653)	$ 45,208	$ (5,622)	$ 30,748	$ (1,655)
Net income/(loss) per share	$ 0.02	$ (0.07)	$ (0.02)	$ (0.07)	$ (0.22)	$ (0.08)	$ (0.07)	$ 1.25

Schedule III - Real Estate Pr_2

Schedule III - Real Estate Properties and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 612,292
Initial Costs to Company, Land	230,034
Initial Costs to Company, Buildings and Improvements	809,065
Costs Capitalized Subsequent to Acquisitions, Improvements	70,074
Gross Amount, Land	230,034
Gross Amount, Building and Improvements	879,139
Gross Amount, Total	1,109,173	$ 1,005,647	$ 776,301
Accumulated Amortization	101,835	$ 70,484	$ 48,234
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	2,578
Gross Amount, Land	6,546
Gross Amount, Building and Improvements	6,068
Gross Amount, Total	12,614
Accumulated Amortization	$ 2,898
Year Acquired	2009
AmberGlen Property [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1984
AmberGlen Property [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1998
City Center Property [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 22,965
Initial Costs to Company, Land	3,123
Initial Costs to Company, Buildings and Improvements	10,656
Costs Capitalized Subsequent to Acquisitions, Improvements	9,790
Gross Amount, Land	3,123
Gross Amount, Building and Improvements	20,446
Gross Amount, Total	23,569
Accumulated Amortization	$ 7,484
Date of Construction	1984
Year Acquired	2010
Central Fairwinds [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 17,534
Initial Costs to Company, Land	1,747
Initial Costs to Company, Buildings and Improvements	9,751
Costs Capitalized Subsequent to Acquisitions, Improvements	6,927
Gross Amount, Land	1,747
Gross Amount, Building and Improvements	16,678
Gross Amount, Total	18,425
Accumulated Amortization	$ 4,471
Date of Construction	1982
Year Acquired	2012
Cherry Creek [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 46,867
Initial Costs to Company, Land	25,745
Initial Costs to Company, Buildings and Improvements	20,144
Costs Capitalized Subsequent to Acquisitions, Improvements	1,837
Gross Amount, Land	25,745
Gross Amount, Building and Improvements	21,981
Gross Amount, Total	47,726
Accumulated Amortization	$ 6,590
Year Acquired	2014
Cherry Creek [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1962
Cherry Creek [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1980
Lake Vista Pointe [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 17,717
Initial Costs to Company, Land	4,115
Initial Costs to Company, Buildings and Improvements	20,600
Costs Capitalized Subsequent to Acquisitions, Improvements	178
Gross Amount, Land	4,115
Gross Amount, Building and Improvements	20,778
Gross Amount, Total	24,893
Accumulated Amortization	$ 5,171
Date of Construction	2007
Year Acquired	2014
Florida Research Park [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 45,969
Initial Costs to Company, Land	11,446
Initial Costs to Company, Buildings and Improvements	56,475
Costs Capitalized Subsequent to Acquisitions, Improvements	3,228
Gross Amount, Land	11,446
Gross Amount, Building and Improvements	59,703
Gross Amount, Total	71,149
Accumulated Amortization	$ 9,100
Date of Construction	1999
Florida Research Park [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Year Acquired	2014
Florida Research Park [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Year Acquired	2016
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	1,810
Gross Amount, Land	3,153
Gross Amount, Building and Improvements	21,644
Gross Amount, Total	24,797
Accumulated Amortization	$ 3,452
Date of Construction	2000
Year Acquired	2015
Denver Tech [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 15,461
Initial Costs to Company, Land	18,002
Initial Costs to Company, Buildings and Improvements	52,719
Costs Capitalized Subsequent to Acquisitions, Improvements	1,679
Gross Amount, Land	18,002
Gross Amount, Building and Improvements	54,398
Gross Amount, Total	72,400
Accumulated Amortization	$ 4,314
Denver Tech [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1999
Year Acquired	2015
Denver Tech [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1997
Year Acquired	2019
190 Office Center [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 40,854
Initial Costs to Company, Land	7,162
Initial Costs to Company, Buildings and Improvements	39,690
Costs Capitalized Subsequent to Acquisitions, Improvements	1,596
Gross Amount, Land	7,162
Gross Amount, Building and Improvements	41,286
Gross Amount, Total	48,448
Accumulated Amortization	$ 5,110
Date of Construction	2001
Year Acquired	2015
Intellicenter [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 32,971
Initial Costs to Company, Land	5,244
Initial Costs to Company, Buildings and Improvements	34,278
Costs Capitalized Subsequent to Acquisitions, Improvements	69
Gross Amount, Land	5,244
Gross Amount, Building and Improvements	34,347
Gross Amount, Total	39,591
Accumulated Amortization	$ 4,726
Date of Construction	2008
Year Acquired	2015
Carillon Point [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 15,972
Initial Costs to Company, Land	5,172
Initial Costs to Company, Buildings and Improvements	17,316
Costs Capitalized Subsequent to Acquisitions, Improvements	213
Gross Amount, Land	5,172
Gross Amount, Building and Improvements	17,529
Gross Amount, Total	22,701
Accumulated Amortization	$ 3,160
Date of Construction	2007
Year Acquired	2016
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	15,513
Gross Amount, Land	3,479
Gross Amount, Building and Improvements	84,169
Gross Amount, Total	87,648
Accumulated Amortization	$ 9,617
Date of Construction	1973
Year Acquired	2016
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	1,633
Gross Amount, Land	6,696
Gross Amount, Building and Improvements	33,756
Gross Amount, Total	40,452
Accumulated Amortization	$ 3,018
Date of Construction	1988
Year Acquired	2016
SanTan [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 34,053
Initial Costs to Company, Land	6,803
Initial Costs to Company, Buildings and Improvements	37,187
Costs Capitalized Subsequent to Acquisitions, Improvements	4,556
Gross Amount, Land	6,803
Gross Amount, Building and Improvements	41,743
Gross Amount, Total	48,546
Accumulated Amortization	$ 5,180
Year Acquired	2016
SanTan [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2000
SanTan [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2003
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	1,778
Gross Amount, Land	10,629
Gross Amount, Building and Improvements	36,293
Gross Amount, Total	46,922
Accumulated Amortization	$ 2,846
Date of Construction	2003
Year Acquired	2017
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	6,337
Gross Amount, Land	25,741
Gross Amount, Building and Improvements	47,811
Gross Amount, Total	73,552
Accumulated Amortization	$ 6,066
Year Acquired	2017
Mission City [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1990
Mission City [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2007
Sorrento Mesa [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs to Company, Land	$ 34,305
Initial Costs to Company, Buildings and Improvements	36,726
Costs Capitalized Subsequent to Acquisitions, Improvements	2,445
Gross Amount, Land	34,305
Gross Amount, Building and Improvements	39,171
Gross Amount, Total	73,476
Accumulated Amortization	$ 4,093
Year Acquired	2017
Sorrento Mesa [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1985
Sorrento Mesa [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2001
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
Costs Capitalized Subsequent to Acquisitions, Improvements	709
Gross Amount, Land	10,746
Gross Amount, Building and Improvements	20,471
Gross Amount, Total	31,217
Accumulated Amortization	$ 2,169
Year Acquired	2017
Papago Tech [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1993
Papago Tech [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1995
Pima Center [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs to Company, Buildings and Improvements	$ 45,133
Costs Capitalized Subsequent to Acquisitions, Improvements	1,030
Gross Amount, Building and Improvements	46,163
Gross Amount, Total	46,163
Accumulated Amortization	$ 3,345
Year Acquired	2018
Pima Center [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2006
Pima Center [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2008
Circle Point [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39,650
Initial Costs to Company, Land	9,320
Initial Costs to Company, Buildings and Improvements	39,101
Costs Capitalized Subsequent to Acquisitions, Improvements	1,581
Gross Amount, Land	9,320
Gross Amount, Building and Improvements	40,682
Gross Amount, Total	50,002
Accumulated Amortization	$ 3,036
Date of Construction	2001
Year Acquired	2018
The Quad [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 30,600
Initial Costs to Company, Land	8,079
Initial Costs to Company, Buildings and Improvements	39,858
Costs Capitalized Subsequent to Acquisitions, Improvements	93
Gross Amount, Land	8,079
Gross Amount, Building and Improvements	39,951
Gross Amount, Total	48,030
Accumulated Amortization	$ 2,103
Date of Construction	1982
Year Acquired	2018
Greenwood Blvd [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 22,425
Initial Costs to Company, Land	3,945
Initial Costs to Company, Buildings and Improvements	26,019
Costs Capitalized Subsequent to Acquisitions, Improvements	500
Gross Amount, Land	3,945
Gross Amount, Building and Improvements	26,519
Gross Amount, Total	30,464
Accumulated Amortization	$ 915
Date of Construction	1997
Year Acquired	2018
Camelback Square [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs to Company, Land	$ 11,738
Initial Costs to Company, Buildings and Improvements	37,922
Costs Capitalized Subsequent to Acquisitions, Improvements	1,267
Gross Amount, Land	11,738
Gross Amount, Building and Improvements	39,189
Gross Amount, Total	50,927
Accumulated Amortization	$ 1,325
Date of Construction	1978
Year Acquired	2018
Canyon Park [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 40,950
Initial Costs to Company, Land	7,098
Initial Costs to Company, Buildings and Improvements	38,416
Costs Capitalized Subsequent to Acquisitions, Improvements	2,691
Gross Amount, Land	7,098
Gross Amount, Building and Improvements	41,107
Gross Amount, Total	48,205
Accumulated Amortization	$ 1,046
Year Acquired	2019
Canyon Park [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1993
Canyon Park [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	1999
Cascade Station [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 22,304
Initial Costs to Company, Buildings and Improvements	27,220
Costs Capitalized Subsequent to Acquisitions, Improvements	36
Gross Amount, Building and Improvements	27,256
Gross Amount, Total	27,256
Accumulated Amortization	$ 600
Year Acquired	2019
Cascade Station [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2008
Cascade Station [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of Construction	2009
Corporate [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 50,000

Schedule III - Real Estate Pr_3

Schedule III - Real Estate Properties and Accumulated Depreciation (Parenthetical) (Detail) $ in Thousands	Dec. 31, 2019USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Real estate assets, aggregate cost for federal tax purpose	$ 1,100,000
Unamortized fair value adjustments	618
Secured Debt [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Deferred financing costs	$ 5,660

Schedule III - Summary of Real

Schedule III - Summary of Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Real Estate Properties
Balance, beginning of year	$ 1,005,647	$ 776,301
Acquisitions	113,134	225,476
Dispositions and impairments	(27,585)	(5,715)
Capital improvements	22,491	30,378
Assets held for sale	(4,514)	(20,793)
Balance, end of year	1,109,173	1,005,647
Accumulated Depreciation
Balance, beginning of year	70,484	48,234
Depreciation	35,531	29,196
Dispositions	(4,180)	(2,301)
Depreciation on assets held for sale		(4,645)
Balance, end of year	$ 101,835	$ 70,484