Peakstone Realty Trust (PKST) 10-K 10 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 04, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Griffin Capital Essential Asset REIT II, Inc.
Entity Central Index Key	1,600,626
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Common Stock, Shares Outstanding		34,948,853
Entity Public Float			$ 142,557,719

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 17,609,981	$ 6,171,317
Land	53,229,574	0
Building	353,083,087	0
Tenant origination and absorption cost	110,652,188	0
Total real estate	516,964,849	0
Less: accumulated depreciation and amortization	(12,060,635)	0
Total real estate, net	504,904,214	0
Real estate acquisition deposits	8,950,000	2,000,000
Deferred financing costs, net	3,573,746	1,902,082
Other assets, net	5,255,778	514,868
Total assets	540,293,719	10,588,267
Total real estate
Revolving Credit Facility	138,557,720	0
AIG Loan	126,970,000	0
Total debt	265,527,720	0
Accounts payable and other liabilities	7,116,194	175,985
Distributions payable	556,246	15,279
Due to affiliates	2,323,696	866,176
Below market leases, net	35,262,532	0
Total liabilities	$ 310,786,388	$ 1,057,440
Commitments and contingencies
Common stock subject to redemption	$ 4,566,044	$ 50,666
AIG Loan
Preferred Stock, $0.001 par value, 200,000,000 shares authorized; no shares outstanding, as of December 31, 2015 and 2014	0	0
Common Stock, $0.001 par value, 700,000,000 shares authorized; 24,724,366 and 1,133,773 Class A shares outstanding, as of December 31, 2015 and December 31, 2014, respectively, and 3,831,804 Class T shares outstanding as of December 31, 2015	28,556	11,335
Additional paid-in capital	250,757,479	9,838,210
Distributions	(8,257,717)	(71,809)
Accumulated deficit	(17,684,220)	(436,616)
Total stockholders' equity	224,844,098	9,341,120
Noncontrolling interests	97,189	139,041
Total equity	224,941,287	9,480,161
Total liabilities and equity	$ 540,293,719	$ 10,588,267

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014	Jul. 31, 2014	Feb. 11, 2014	Nov. 20, 2013
Preferred Stock, par value (in USD per share)	$ 0.001	$ 0.001	$ 0.001
Preferred Stock, number of shares authorized (in shares)	200,000,000	200,000,000	200,000,000
Preferred Stock, number of shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, number of shares authorized (in shares)	700,000,000	700,000,000	700,000,000		30,000
Common stock, number of shares outstanding (in shares)				100
Class A
Common stock, number of shares outstanding (in shares)	24,724,366	1,133,773
Class T
Common stock, number of shares outstanding (in shares)	3,831,804	0

Consolidated Statements of Oper

Consolidated Statements of Operations Statement - USD ($)	11 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Income Statement [Abstract]
Rental income	$ 0	$ 21,215,843
Property expense recovery	0	3,933,180
Total revenue	0	25,149,023
Asset management fees to affiliates	0	2,623,770
Property management fees to affiliates	0	333,016
Property operating	0	1,316,891
Property tax	0	2,713,373
Acquisition fees and expenses to non-affiliates	0	3,058,497
Acquisition fees and expenses to affiliates	0	10,876,098
General and administrative	438,806	3,821,609
Depreciation and amortization	0	12,060,635
Total expenses	438,806	36,803,889
Loss from operations	(438,806)	(11,654,866)
Interest income	0	261
Interest expense	(55,786)	(4,851,048)
Net loss attributable to common stockholders	(494,592)	(16,505,653)
Distributions to redeemable preferred unit holders	0	(397,803)
Preferred units redemption premium	0	(375,000)
Less: Net loss attributable to noncontrolling interests	57,976	30,852
Net loss	$ (436,616)	$ (17,247,604)
Net loss per share, basic and diluted (in USD per share)	$ (2.90)	$ (1.22)
Weighted average number of common shares (in shares)	150,623	14,129,326

Consolidated Statements of Equi

Consolidated Statements of Equity Statement - USD ($)	Total	Common Stock	Additional Paid-In Capital	Cumulative Distributions	Accumulated Deficit	Total Stockholders’ Equity	Non- controlling Interests	Preferred units subject to redemption	Preferred units subject to redemptionAdditional Paid-In Capital	Preferred units subject to redemptionTotal Stockholders’ Equity
Beginning balance (shares) at Feb. 10, 2014		100
Beginning balance at Feb. 10, 2014	$ 201,000	$ 1	$ 999	$ 0	$ 0	$ 1,000	$ 200,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Gross proceeds from issuance of common stock (shares)		1,128,340
Gross proceeds from issuance of common stock	11,283,399	$ 11,283	11,272,116			11,283,399
Discount on issuance of common stock	(279,960)		(279,960)			(279,960)
Offering costs including dealer manager fees to affiliates	(1,154,894)		(1,154,894)			(1,154,894)
Distributions to common stockholders	(21,143)			(21,143)		(21,143)
Issuance of shares for distribution reinvestment plan (shares)		5,333
Issuance of shares for distribution reinvestment plan	50,666	$ 51	50,615	(50,666)
Additions to common stock subject to redemption	(50,666)		(50,666)			(50,666)
Distributions for noncontrolling interest	(2,983)						(2,983)
Net loss	(494,592)				(436,616)	(436,616)	(57,976)
Ending balance (shares) at Dec. 31, 2014		1,133,773
Ending balance at Dec. 31, 2014	9,480,161	$ 11,335	9,838,210	(71,809)	(436,616)	9,341,120	139,041
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Gross proceeds from issuance of common stock (shares)		26,897,208
Gross proceeds from issuance of common stock	268,972,084	$ 167,766	268,804,318			268,972,084
Discount on issuance of common stock	(997,020)		(997,020)			(997,020)
Offering costs including dealer manager fees to affiliates	(27,514,088)		(27,514,088)			(27,514,088)		$ (375,000)	$ (375,000)	$ (375,000)
Distributions to common stockholders	(3,172,832)			(3,172,832)		(3,172,832)
Issuance of shares for distribution reinvestment plan (shares)		477,638
Issuance of shares for distribution reinvestment plan	4,515,378	$ 1,509	4,536,053	(4,537,562)
Additions to common stock subject to redemption	(4,537,562)		(4,537,562)			(4,537,562)
Distributions for noncontrolling interest	(11,000)						(11,000)
Adjustment to par value - common stock (see Note 5)		$ (152,530)	152,530
Issuance of stock dividends (in shares)		47,551
Issuance of stock dividends		$ 476	475,038	(475,514)
Write-off of offering cost on redemption of preferred units								$ 375,000	$ 375,000	$ 375,000
Net loss	(17,278,456)				(17,247,604)	(17,247,604)	(30,852)
Ending balance (shares) at Dec. 31, 2015		28,556,170
Ending balance at Dec. 31, 2015	$ 224,941,287	$ 28,556	$ 250,757,479	$ (8,257,717)	$ (17,684,220)	$ 224,844,098	$ 97,189

Consolidated Statements of Cash

Consolidated Statements of Cash Flows Statement - USD ($)	11 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net loss	$ (494,592)	$ (16,505,653)
Depreciation of building	0	4,915,541
Amortization of intangibles	0	7,145,094
Amortization of below market lease	0	(1,858,029)
Amortization of deferred financing costs	21,064	514,024
Deferred rent	0	(1,500,086)
Change in operating assets and liabilities:
Other assets, net	(514,868)	(2,064,302)
Accounts payable and other liabilities	175,985	6,271,274
Due to affiliates, net	866,176	146,429
Net cash (used in) provided by operating activities	53,765	(2,935,708)
Investing Activities:
Acquisition of properties, net	0	(479,197,536)
Real estate acquisition deposits	(2,000,000)	(6,950,000)
Net cash used in investing activities	(2,000,000)	(486,147,536)
Financing Activities:
Proceeds from borrowings - Credit Facility	0	286,050,000
Proceeds from borrowings - AIG Loan	0	126,970,000
Principal payoff of indebtedness - Credit Facility	0	(147,492,280)
Deferred financing costs	(1,923,146)	(2,185,692)
Issuance of common stock, net of offering costs	9,848,545	240,595,548
Issuance of preferred equity subject to redemption	0	73,260,000
Redemption of preferred units	0	(73,260,000)
Distributions paid to common stockholders	(6,798)	(2,631,865)
Distributions paid to noncontrolling interests	(2,049)	(11,000)
Distributions paid to preferred units subject to redemption	0	(397,803)
Preferred offering cost	0	(375,000)
Net cash provided by financing activities	7,916,552	500,521,908
Net increase in cash and cash equivalents	5,970,317	11,438,664
Cash and cash equivalents at the beginning of the period	201,000	6,171,317
Cash and cash equivalents at the end of the period	6,171,317	17,609,981
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest	0	2,616,311
Supplemental Disclosures of Non-Cash Transactions:
Increase in distributions payable to common stockholders	14,345	540,967
Increase in distributions payable to noncontrolling interest	934	0
Common stock issued pursuant to the distribution reinvestment plan	$ 50,666	$ 4,515,378

Organization

Organization	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Griffin Capital Essential Asset REIT II, Inc., a Maryland corporation (the “Company”), was formed on November 20, 2013 under the Maryland General Corporation Law and intends to qualify as a real estate investment trust (“REIT”) for the year ended December 31, 2015 and for each year thereafter. The Company was organized primarily with the purpose of acquiring single tenant net lease properties that are considered essential to the occupying tenant, and expects to use a substantial amount of the net proceeds from its initial public offering to invest in these properties. The Company’s year end is December 31. Griffin Capital Corporation, a California corporation (the “Sponsor”), is the sponsor of the Company. The Sponsor began operations in 1995, and was incorporated in 1996, to principally engage in acquiring and developing office and industrial properties. Kevin A. Shields, the Company's Chief Executive Officer and Chairman of the Company's board of directors, controls the Sponsor as the trustee of the trust entity that is the sole shareholder of the Sponsor. Griffin Capital Essential Asset Advisor II, LLC, a Delaware limited liability company (the “Advisor”) was formed on November 19, 2013. Griffin Capital Asset Management Company ("GAMCO") is the sole member of the Advisor and is indirectly owned by the Sponsor. The Advisor is responsible for managing the Company’s affairs on a day-to-day basis and identifying and making acquisitions and investments on behalf of the Company under the terms of the advisory agreement dated July 31, 2014, as amended. The officers of the Advisor are also officers of the Sponsor. The Company’s Articles of Incorporation initially authorized 30,000 shares of common stock. On February 11, 2014, the Advisor purchased 100 shares of common stock for $1,000 and became the initial stockholder. Upon the SEC declaring the offering effective on July 31, 2014, the Company’s Articles of Amendment and Restatement were filed with the State of Maryland and authorized 700,000,000 shares of common stock with a par value of $0.001 and 200,000,000 shares of preferred stock with a par value of $0.001 . The Company's registration statement was declared effective on July 31, 2014, pursuant to which the Company registered $2,200,000,000 in shares of Class A common stock and Class T common stock in the initial public offering (“Offering”), consisting of $2,000,000,000 in shares to be offered to the public in the primary public offering (“Primary Offering”) and $200,000,000 in shares for sale pursuant to the distribution reinvestment plan (“DRP”). On December 5, 2014, the Company ceased offering Class T common stock, having sold no shares of Class T common stock at such date. On October 30, 2015, the Company ceased offering Class A common stock in the Offering, having sold approximately $ 240.8 million in shares of Class A common stock, and reallocated the remaining shares, such that, effective November 2, 2015, the Company is offering up to approximately $1,800,000,000 in shares of Class T common stock in the Primary Offering. The Company is offering such Class T shares at a price of $10.00 per share in the Primary Offering and a price of $9.50 per share pursuant to the DRP. (See Note 5, Equity , of the notes to the audited financial statements as of December 31, 2015.) On September 23, 2014, the Company reached the minimum offering amount of $2.0 million in sales of shares as a result of a $2.0 million investment by a private investment program wholly-owned by affiliates of the Sponsor, and the Company commenced operations. Griffin Capital Securities, LLC (formerly known as Griffin Capital Securities, Inc.) (the “Dealer Manager”) is a wholly-owned subsidiary of Griffin Capital, LLC ("GC"), of which the Sponsor is the sole member. The Dealer Manager is responsible for marketing the Company’s shares being offered pursuant to the Offering. As of December 31, 2015 , the Company issued 24,202,509 and 3,823,139 shares of Class A and Class T common stock, respectively, for gross proceeds of approximately $240.8 million and $ 38.2 million , respectively, excluding shares of common stock issued pursuant to the DRP and stock distributions. As of December 31, 2015, 475,520 and 46,336 shares of Class A common stock had been issued pursuant to the DRP and stock distributions, respectively. As of December 31, 2015 , 7,451 and 1,215 shares of Class T common stock had been issued pursuant to the DRP and stock distributions, respectively. The Company’s property manager is Griffin Capital Essential Asset Property Management II, LLC, a Delaware limited liability company (the “Property Manager”), which was formed on November 19, 2013 to manage the Company’s properties, or provide oversight of other property managers engaged by the Company or an affiliate of the Company. The Property Manager will derive substantially all of its income from the property management services it will perform for the Company. Griffin Capital Essential Asset Operating Partnership II, L.P., a Delaware limited partnership (the “Operating Partnership”), was formed on November 21, 2013. On February 11, 2014, the Advisor purchased a 99% limited partnership interest and special limited partnership interest in the Operating Partnership for $200,000 and on February 11, 2014, the Company contributed the initial $1,000 capital contribution it received to the Operating Partnership in exchange for a 1% general partner interest. The special limited partnership interest in the Operating Partnership entitles the Advisor to certain subordinated distributions as defined in the operating partnership agreement and discussed below in Note 7, Related Party Transactions . The Operating Partnership will own, directly or indirectly, all of the properties acquired by the Company. The Operating Partnership will conduct certain activities through the Company’s taxable REIT subsidiary, Griffin Capital Essential Asset TRS II, Inc., a Delaware corporation (the “TRS”) formed on November 22, 2013, which is a wholly-owned subsidiary of the Operating Partnership. The TRS had no activity as of December 31, 2015 .

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying cons olidated financial statements of the Company are prepared by management on the accrual basis of accounting and in accordance with principles generally accepted in the United States (“GAAP”) as contained in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification” or “ASC”), and in conjunction with rules and regulations of the SEC. The consolidated financial statements include accounts of the Company, the Operating Partnership and the TRS, if applicable. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Cash and Cash Equivalents The Company considers all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. There were no cash equivalents, nor were there restrictions on the use of the Company’s cash balance as of December 31, 2015 and 2014 . The Company maintains its cash accounts with major financial institutions. The cash balances consist of business checking accounts. These accounts are insured by the Federal Deposit Insurance Corporation up to $250,000 at each institution. The Company has not experienced any losses with respect to cash balances in excess of government provided insurance. Management believes there was no significant concentration of credit risk with respect to these cash balances at December 31, 2015 . Real Estate Assets Real Estate Purchase Price Allocation The Company applies the provisions in ASC 805-10, Business Combinations , to account for the acquisition of real estate, or real estate related assets, in which a lease, or other contract, is in place representing an active revenue stream, as a business combination. In accordance with the provisions of ASC 805-10, the Company recognizes the assets acquired, the liabilities assumed and any noncontrolling interest in the acquired entity at their fair values as of the acquisition date, on an “as if vacant” basis. Further, the Company recognizes the fair value of assets acquired, liabilities assumed and any noncontrolling interest in acquisitions of less than a 100% interest when the acquisition constitutes a change in control of the acquired entity. The accounting provisions have also established that acquisition-related costs and restructuring costs are considered separate and not a component of a business combination and, therefore, are expensed as incurred. Acquired in-place leases are valued as above-market or below-market as of the date of acquisition. The in-place lease valuation is measured based on the present value (using an interest rate, which reflects the risks associated with the leases acquired) of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) management’s estimate of fair market lease rates for the corresponding in-place leases over a period equal to the remaining non-cancelable term of the lease for above-market leases, taking into consideration below-market extension options for below-market leases. In addition, any renewal options are considered and will be included in the valuation of in-place leases if (1) it is likely that the tenant will exercise the option, and (2) the renewal rent is considered to be sufficiently below a fair market rental rate at the time of renewal. The above-market and below-market lease values are capitalized as intangible lease assets or liabilities and amortized as an adjustment to rental income over the remaining terms of the respective leases, including below market renewal options. The aggregate fair value of in-place leases includes direct costs associated with obtaining a new tenant, opportunity costs associated with lost rentals, which are avoided by acquiring an in-place lease, and tenant relationships. Direct costs associated with obtaining a new tenant include commissions, tenant improvements, and other direct costs and are estimated using methods similar to those used in independent appraisals and management’s consideration of current market costs to execute a similar lease. These direct costs are considered intangible lease assets and will be included with real estate assets on the consolidated balance sheets. The intangible lease assets will be amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid, including real estate taxes, insurance, and other operating expenses, pursuant to the in-place leases over a market lease-up period for a similar lease. Customer relationships are valued based on management’s evaluation of certain characteristics of each tenant’s lease and the Company’s overall relationship with that respective tenant. Characteristics management will consider in allocating these values include the nature and extent of the Company’s existing business relationships with tenants, growth prospects for developing new business with the tenant, the tenant’s credit quality and expectations of lease renewals (including those existing under the terms of the lease agreement), among other factors. These intangibles will be included in intangible lease assets on the consolidated balance sheets and will be amortized to expense over the remaining term of the respective leases. The determination of the fair values of the assets and liabilities acquired requires the use of significant assumptions about current market rental rates, rental growth rates, discount rates and other variables. Depreciation The purchase price of real estate to be acquired and the costs related to the development, construction, and property improvements are capitalized. Repairs and maintenance costs include all costs that do not extend the useful life of the real estate asset and are expensed as incurred. The Company considers the period of future benefit of an asset to determine the appropriate useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Buildings 40 years Building Improvements 5-20 years Land Improvements 15-25 years Tenant Improvements Shorter of estimated useful life or remaining contractual lease term Tenant Origination and Absorption Cost Remaining contractual lease term In-place Lease Valuation Remaining contractual lease term with consideration as to below-market extension options for below-market leases Depreciation expense for buildings and improvements for the year ended December 31, 2015 was $4.9 million . Amortization expense for intangibles, including but not limited to, tenant origination and absorption costs for the year ended December 31, 2015, was $7.1 million . (See Note 3, Real Estate , for amortization related to in-place lease valuations.) Impairment of Real Estate and Related Intangible Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of real estate and related intangible assets may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of real estate and related intangible assets may not be recoverable, management will assess the recoverability of the assets by determining whether the carrying value of the assets will be recovered through the undiscounted future operating cash flows expected from the use of the assets and the eventual disposition. If based on this analysis the Company does not believe that it will be able to recover the carrying value of the asset, the Company will record an impairment loss to the extent the carrying value exceeds the estimated fair value of the asset. Projections of expected future undiscounted cash flows require management to estimate future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, discount rates, the number of months it takes to re-lease the property and the number of years the property is held for investment. As of December 31, 2015 , the Company did not record any impairment charges related to its real estate assets or intangible assets. Real Estate Acquisition Deposits Real estate acquisition deposits include funds held in escrow that will be applied towards the purchase of real estate. On November 4, 2015, the Company, through four wholly-owned subsidiaries of the Company's operating partnership (the "SPEs"), entered into a series of assignment and assumption agreements with the Company's sponsor related to the potential acquisitions of the following four properties: (1) a four -story, Class "A" office building located in Durham, North Carolina and leased in its entirety to Toshiba Tec Corporation (the "Toshiba Tec property") for an initial purchase price of approximately $35.9 million , plus closing costs and acquisition fees; (2) a to-be-built, single-story, Class "A" industrial facility located in North Charleston, South Carolina and leased in its entirety to WABCO North America, LLC (the "WABCO property") for a purchase price of approximately $13.8 million , plus closing costs and acquisition fees; (3) a to-be-built, single-story, Class "A" distribution warehouse located in DeKalb, Illinois and leased in its entirety to 3M Company (the "3M property") for a purchase price of approximately $66.4 million , plus closing costs and acquisition fees; and (4) a to-be-built, single-story, Class "A" fulfillment center located in Etna, Ohio and which will be leased in its entirety to Amazon.com.dedc, LLC (the "Amazon property") for a purchase price of approximately $88.9 million , plus closing costs and acquisition fees. As required by the purchase agreements of Toshiba Tec Corporation, WABCO North America, LLC, 3M Company and Amazon.com.dedc, LLC the Company placed into escrow $1.9 million , $0.1 million , $2.5 million , $4.5 million , respectively, earnest money deposit to be applied towards the purchase of all four properties. In certain circumstances, if the Company fails to complete the acquisitions of the properties, the $9.0 million earnest money deposit may be forfeited. On January 21, 2016, the Company acquired the Toshiba TEC property for approximately $35.8 million . (See Note 11, Subsequent Events ). The remaining properties are expected to close during the third or fourth quarter of 2016. Deferred Financing Costs Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing. These costs are amortized to, and included as a component of, interest expense over the terms of the respective financing agreements. As of December 31, 2015 , the Company’s deferred financing costs, net of accumulated amortization, were $ 3.6 million which represents financing costs incurred for the Revolving Credit Facility and the AIG Loan (as defined herein), discussed in Note 4, Debt . Revenue Recognition Leases associated with the acquisition and contribution of certain real estate assets (see Note 3, Real Estate ) have net minimum rent payment increases during the term of the lease and are recorded to rental revenue on a straight-line basis, commencing as of the contribution or acquisition date. If a lease provides for contingent rental income, the Company will defer the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. The Company recognized deferred rent from tenants of approximately $1.5 million for the year ended December 31, 2015. As of December 31, 2015, the cumulative deferred rent balance was $1.5 million and is included in other assets on the consolidated balance sheet. Tenant reimbursement revenue, which is comprised of additional amounts collected from tenants for the recovery of certain operating expenses, including repair and maintenance, property taxes and insurance, and capital expenditures, to the extent allowed pursuant to the lease (collectively "Recoverable Expenses"), is recognized as revenue when the additional rent is due. Recoverable Expenses to be reimbursed by a tenant are determined based on the Company's estimate of the property's operating expenses for the year, pro rated based on leased square footage of the property, and are collected in equal installments as additional rent from the tenant, pursuant to the terms of the lease. At the end of the calendar year, the Company reconciles the amount of additional rent paid by the tenant during the year to the actual amount of Recoverable Expenses incurred by the Company for the same period. The difference, if any, is either charged or credited to the tenant pursuant to the provisions of the lease. In certain instances the lease may restrict the amount the Company can recover from the tenant such as a cap on certain or all property operating expenses. As of December 31, 2015, the Company estimated that approximately $0.3 million , net, was over collected from tenants throughout the year, and as a result, the Company recorded a liability to accounts payable and other liabilities on the accompanying balance sheet. Organizational and Offering Costs Organizational and offering costs of the Offering were paid by either the Company or the Sponsor, on behalf of the Advisor, for the Company and will be reimbursed from the proceeds of the Offering (effective November 2, 2015, only to the extent such costs exceed 1.0% of gross offering proceeds from the Company's public offering). Organizational and offering costs consist of all expenses (other than sales commissions, dealer manager fees and stockholder servicing fees) to be paid by the Company in connection with the Offering, including legal, accounting, printing, mailing and filing fees, charges from the escrow holder and other accountable offering expenses, including, but not limited to: (i) amounts to reimburse the Advisor for all marketing related costs and expenses such as salaries and direct expenses of employees of the Advisor and its affiliates in connection with registering and marketing the Company’s shares; (ii) technology costs associated with the offering of the Company’s shares; (iii) costs of conducting training and education meetings; (iv) costs of attending seminars conducted by participating broker-dealers; and (v) payment or reimbursement of bona fide due diligence expenses. Pursuant to the Advisory Agreement, in no event will the Company be obligated to reimburse the Advisor for organizational and offering costs (effective November 2, 2015, only to the extent such costs exceed 1.0% of gross offering proceeds from the Company's public offering) incurred in connection with the Offering totaling in excess of (i) 3.5% (excluding sales commissions, dealer manager fees and stockholder servicing fees) of the gross proceeds raised in the Offering (excluding gross proceeds from the distribution reinvestment plan), and (ii) 15% (including sales commissions, dealer manager fees, stockholder servicing fees and non-accountable due diligence expense allowance but excluding acquisition fees and expenses) of the gross proceeds raised in the Offering (excluding gross proceeds from the distribution reinvestment plan). If the organization and offering costs exceeded such limits discussed above, within 60 days after the end of the month in which the Offering terminated or was completed, the Advisor would have been obligated to reimburse the Company for any excess amounts. As long as the Company is subject to the Statement of Policy Regarding Real Estate Investment Trusts published by the North American Securities Administrators Association (“NASAA REIT Guidelines”), such limitations discussed above will also apply to any future public offerings. As of December 31, 2015 and 2014, organizational and offering costs were 1.4% and 13.9% of gross offering proceeds, respectively, excluding sales commissions, dealer manager fees and stockholder servicing fees, and 10.5% and 21.6% of gross offering proceeds, respectively, including sales commissions, dealer manager fees and stockholder servicing fees. As of December 31, 2015 , organizational and offering costs did not exceed the limitations. (See Note 7, Related Party Transactions ). Organizational and offering costs incurred as of December 31, 2015 and 2014, including those incurred by the Company and due to the Advisor, for the Offering are as follows: December 31, 2015 December 31, 2014 Cumulative offering costs $ 28,668,982 $ 2,063,907 Cumulative organizational costs $ 517,841 $ 311,864 Organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback $ 3,534,806 $ 1,527,392 Less payments (3,073,206 ) — Adjustment to organizational and offering costs pursuant to limitations to which the Advisor is subject — (1,142,237 ) Net of payments of organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback $ 461,600 $ 385,155 Contingent Advisor Payment Holdback (1) : Organizational and offering costs advanced by the Advisor 382,314 — Dealer Manager fees advanced by the Advisor 764,628 — Net organizational and offering costs advanced by the Advisor $ 1,608,542 $ 385,155 (1) See Note 7, Related Party Transactions , for discussion on Contingent Advisor Payment Holdback. Stockholder Servicing Fee The Company will pay the dealer manager a stockholder servicing fee with respect to the Class T shares sold as additional compensation to the dealer manager and participating broker-dealers for providing ongoing stockholder services.The stockholder servicing fee will accrue daily equal to 1/365th of 1% of the purchase price per share of the Class T shares sold and will be paid quarterly. The Company will cease paying the stockholder servicing fee with respect to the Class T shares sold in this offering upon the occurrence of certain defined events. The dealer manager will generally re-allow 100% of the stockholder servicing fee to participating broker-dealers; provided, however, that with respect to any individual investment, the dealer manager will not re-allow the related stockholder servicing fee to any participating broker-dealer if such participating broker-dealer ceases to hold the account related to such investment. In addition, the dealer manager will not re-allow the stockholder servicing fee to any participating broker-dealer if such participating broker-dealer does not have a current executed selling agreement with the dealer manager. In any instance in which the dealer manager does not re-allow the stockholder servicing fee to a participating broker-dealer, the dealer manager will return such fee to the Company. As the payment of stockholder servicing fee is contingent upon the continued servicing of the stockholder's account by the participating broker-dealer, the fee is expensed as incurred. Noncontrolling Interests Due to the Company’s control through the general partnership interest in the Operating Partnership and the limited rights of the limited partner, the Operating Partnership, including its wholly-owned subsidiary, is consolidated with the Company and the limited partner interest is reflected as noncontrolling interests in the accompanying consolidated balance sheets. The Company reports noncontrolling interests in subsidiaries within equity in the consolidated balance sheets, but separate from the parent shareholders’ equity. Also, any acquisitions or dispositions of noncontrolling interests that do not result in a change of control will be accounted for as equity transactions. Further, the Company will recognize a gain or loss in net income (loss) when a subsidiary is deconsolidated upon a change in control. Net income (loss) attributable to noncontrolling interests will be shown as a reduction to net income (loss) in calculating net income (loss) attributable to common stockholders. Any future purchase or sale of interest in an entity that results in a change of control may have a material impact on the Company’s financial statements as the Company’s interest in the entity will be recognized at fair value with gains and losses included in net income (loss). Fair Value Measurements The fair value of financial and nonfinancial assets and liabilities is based on a fair value hierarchy established by the FASB that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described as follows: • Level 1. Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets; • Level 2 . Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3. Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Financial instruments as of December 31, 2015 consisted of cash and cash equivalents, accounts receivable, accounts payable and other accrued expenses, mortgage payable and other borrowings. The amounts of the financial instruments presented in the consolidated financial statements substantially approximate their fair value as of December 31, 2015 . The fair value of the mortgage loan is estimated by discounting the loan’s principal balance over the remaining term of the mortgage using current borrowing rates available to the Company for debt instruments with similar terms and maturities. The Company determined that the mortgage loan valuation in its entirety is classified in Level 2 of the fair value hierarchy, as the fair value is based on current pricing for debt with similar terms as the in-place debt, and there were no transfers into and out of fair value measurement levels during the year ended December 31, 2015 . Income Taxes The Company intends to make an election to be taxed as a REIT, under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, and expects to be taxed as such for the taxable year ending December 31, 2015, assuming the Company satisfies the REIT qualification requirements for such year. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to currently distribute at least 90% of the REIT’s ordinary taxable income to stockholders. As a REIT, the Company generally will not be subject to federal income tax on taxable income that is distributed to stockholders. If the Company fails to qualify as a REIT in any taxable year, after the Company initially qualifies to be taxed as a REIT, the Company will then be subject to federal income taxes on the taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially adversely affect net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and will operate in such a manner as to qualify for treatment as a REIT and intends to operate in the foreseeable future in such a manner that it will remain qualified as a REIT for federal income tax purposes. The Company could engage in certain business activities that could have an adverse effect on its REIT qualification. The Company has elected to isolate these business activities in the books and records of the TRS. In general, the TRS may perform additional services for the Company’s tenants and generally may engage in any real estate or non-real estate related business. The TRS will be subject to corporate federal and state income tax. As of December 31, 2015 , the TRS has not commenced operations. Per Share Data The Company reports earnings per share for the period as (1) basic earnings per share computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the period, and (2) diluted earnings per share computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding, including common stock equivalents. As of December 31, 2015 and 2014, there were no common stock equivalents that would have a dilutive effect on earnings (loss) per share for common stockholders. Distributions declared and paid per common share assumes each share was issued and outstanding each day during the three months ended December 31, 2015 . Cash distributions declared per common share was based on daily declaration and record dates selected by the Company’s board of directors of $0.0015068493 2 per day per share on the outstanding shares of common stock. Segment Information ASC Topic 280, Segment Reporting , establishes standards for reporting financial and descriptive information about a public entity’s reportable segments. The Company internally evaluates all of the properties and interests therein as one reportable segment. Unaudited Data Any references to the number of buildings, square footage, number of leases, occupancy, and any amounts derived from these values in the notes to the consolidated financial statements are unaudited and outside the scope of the Company's independent registered public accounting firm's audit of its consolidated financial statements in accordance with the standards of the Public Company Accounting Oversight Board. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases ("ASU 2016-02"). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 will be effective beginning in the first quarter of 2019. Early adoption of ASU 2016-02 as of its issuance is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on the consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement Period Adjustments (“ASU 2015-16”). In a business combination, ASU 2015-16 requires an acquirer to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The acquirer is required to disclose, by financial statement line item, the nature and amount for the adjustments and the current period income statement impact related to prior periods. The amendments in this ASU are effective for fiscal years beginning December 15, 2016 and interim periods beginning after December 15, 2017. Early adoption is permitted. The Company has elected to adopt ASU No. 2015-16 early, beginning with the quarter ended September 30, 2015. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30) (“ASU 2015-03”) to amend the accounting guidance for the presentation of debt issuance costs. The standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for public business entities for fiscal years beginning after December 15, 2015 and retrospective application is required. Early adoption of the guidance is permitted. The Company does not expect the adoption of ASU No. 2015-03 to have a significant impact on its financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation: Amendments to the Consolidation Analysis ("ASU No. 2015-02"), which amended the existing accounting standards for consolidation under both the variable interest model and the voting model. Under ASU No. 2015-02, companies will need to re-evaluate whether an entity meets the criteria to be considered a VIE, whether companies still meet the definition of primary beneficiaries, and whether an entity needs to be consolidated under the voting model. ASU No. 2015-02 may be applied using a modified retrospective approach or retrospectively, and is effective for reporting periods beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of ASU No. 2015-02 to have a significant impact on its financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU No. 2014-15 to have a significant impact on its financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”). ASU No. 2014-09 replaces substantially all industry-specific revenue recognition requirements and converges areas under this topic with International Financial Reporting Standards. ASU No. 2014-09 implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. ASU No. 2014-09 also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows from contracts with customers. Other major provisions in ASU No. 2014-09 include capitalizing and amortizing certain contract costs, ensuring the time value of money is considered in the applicable transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. ASU No. 2014-09 was originally effective for reporting periods beginning after December 31, 2016 (for public entities). On April 1, 2015, the FASB voted to defer the effective date of ASU No. 2014-09 by one year, to annual reporting periods beginning after December 15, 2017. On July 9, 2015, the FASB affirmed its proposal to defer the effective date to annual reporting periods beginning after December 15, 2017, although entities may elect to adopt the standard as of the original effective date. The Company is currently evaluating the potential impact of the pending adoption of this new guidance on its consolidated financial statements.

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Real Estate	Real Estate As of December 31, 2015 , the Company's real estate portfolio consisted of 15 properties ( 19 buildings) in 11 states consisting of office, industrial, distribution, and data center facilities with a combined acquisition value of $ 479.2 million , including the allocation of the purchase price to above and below-market lease valuation, encompassing approximately 3.2 million square feet. All 15 properties ( 19 buildings) in the Company's real estate portfolio were acquired during year ended December 31, 2015 , as shown below: Property Location Tenant/Major Lessee Acquisition Date Purchase Price Square Feet Acquisition Fees and Reimbursable Expenses Paid to the Advisor (2) Revolving Credit Facility (3) Preferred Equity Year of Expiration (for Major Lessee) Owens Corning Concord, NC Owens Corning Sales, LLC 3/9/2015 $ 5,500,000 61,200 $ 246,676 $ — $ — 2024 Westgate II Houston, TX Wood Group Mustang, Inc. 4/1/2015 57,000,000 186,300 1,479,601 30,000,000 — 2024 Administrative Office of Pennsylvania Courts Mechanicsburg, PA Administrative Office of Pennsylvania Courts 4/22/2015 10,115,000 56,600 346,216 6,100,000 — 2024 American Express Center (1)(5) Phoenix, AZ American Express Travel Related Services Company, Inc. 5/11/2015 91,500,000 513,400 1,986,135 45,700,000 — 2023 MGM Corporate Center (1)(6) Las Vegas, NV MGM Resorts International 5/27/2015 30,300,000 168,300 723,939 25,000,000 — 2024 American Showa Columbus, OH American Showa, Inc. 5/28/2015 17,200,000 304,600 405,200 10,300,000 — 2025 Huntington Ingalls (1)(7) Hampton, VA Huntington Ingalls Incorporated 6/26/2015 34,300,000 515,500 796,459 20,500,000 — 2027 Wyndham Parsippany, NJ Wyndham Worldwide Operations 6/26/2015 81,400,000 203,500 1,697,198 48,800,000 32,560,000 2029 Exel Groveport, OH Exel, Inc. 6/30/2015 15,946,200 312,000 461,663 9,500,000 — 2022 Morpho Detection Andover, MA Morpho Detection LLC 7/1/2015 11,500,000 64,200 342,426 6,900,000 2,600,000 2027 FedEx Freight West Jefferson, OH FedEx Freight, Inc. 7/22/2015 28,000,000 160,400 651,197 16,800,000 10,800,000 2024 Aetna Tuscon, AZ Aetna Life Insurance Co. 7/29/2015 21,700,000 100,300 561,974 21,600,000 — 2025 Bank of America I Simi Valley, CA Bank of America, N.A. 8/14/2015 28,400,000 206,900 611,592 17,040,000 11,161,000 2020 Bank of America II Simi Valley, CA Bank of America, N.A. 8/14/2015 28,600,000 273,200 615,899 17,160,000 11,239,000 2020 Atlas Copco Auburn Hills, MI Atlas Copco Assembly Systems LLC 10/1/2015 17,750,000 120,000 511,897 10,650,000 4,900,000 2025 $ 479,211,200 3,246,400 $ 11,438,072 $ 286,050,000 $ 73,260,000 (1) Multi-building property acquisitions are considered one property for portfolio purposes. (2) The Advisor is entitled to receive acquisition fees equal to 2.0% of acquisition value and acquisition expense reimbursement for actual acquisition expenses incurred, estimated to be approximately 1% of acquisition value. Expense reimbursement paid to the Advisor is included in acquisition fees and expenses to affiliates on the consolidated statements of operations or are capitalized as part of the acquisition if the property does not meet the definition of a "business." See Note 2, Basis of Presentation and Summary Accounting Policies. As of December 31, 2015, the Company capitalized $0.6 million of affiliate acquisition expenses related to a sale-lease back transaction of the Aetna property. (See Note 7, Related Party Transactions, for an update regarding certain changes to acquisition fees as of November 2, 2015.) (3) Represents draws from the Revolving Credit Facility which is discussed in Note 4, Debt, in conjunction with the acquisition . The remaining purchase price was funded with net proceeds raised in the Offering with the exception of the Wyndham, Morpho Detection, FedEx Freight, Bank of America I & II properties, and Atlas Copco for which the remaining proceeds were funded from the preferred equity investment which is discussed in Note 5, Equity . (4) Net rent is based on (a) the contractual base rental payments assuming the lease requires the tenant to reimburse the Company for certain operating expenses or the property is self managed by the tenant and the tenant is responsible for all, or substantially all, of the operating expenses; or (b) contractual rent payments less certain operating expenses that are the Company's responsibility for the 12 -month period subsequent to December 31, 2015 and includes assumptions that may not be indicative of the actual future performance of a property, including the assumption that the tenant will perform its obligations under its lease agreement during the next 12 months. Actual base rent, net, for properties acquired for the year ended December 31, 2015 was $17.9 million . (5) The American Express Center property consists of two buildings. (6) The MGM Corporate Center property consists of three buildings. (7) The Huntington Ingalls property consists of two buildings. The following summarizes the purchase price allocation of the 2015 acquisitions through December 31, 2015 : Land Building and Improvements Tenant Origination and Absorption Cost In-Place Lease Valuation Above/(Below) Market Total Owens Corning $ 575,000 $ 4,605,876 $ 560,750 $ (241,626 ) $ 5,500,000 Westgate II 3,732,053 43,596,739 11,504,737 (1,833,529 ) 57,000,000 Administrative Office of Pennsylvania Courts 1,207,000 7,201,000 1,735,000 (28,000 ) 10,115,000 American Express Center 5,750,000 73,750,000 39,920,000 (27,920,000 ) 91,500,000 MGM Corporate Center 4,260,342 21,660,600 7,044,058 (2,665,000 ) 30,300,000 American Showa 1,452,649 13,473,559 2,273,792 — 17,200,000 Huntington Ingalls 5,415,000 23,341,000 6,495,000 (951,000 ) 34,300,000 Wyndham 5,695,816 60,978,739 15,552,851 (827,406 ) 81,400,000 Exel 1,988,200 11,947,000 2,011,000 — 15,946,200 Morpho Detection 2,350,000 5,833,000 3,649,000 (332,000 ) 11,500,000 FedEx Freight 2,774,000 22,640,000 3,273,000 (687,000 ) 28,000,000 Aetna (1) 1,852,514 20,480,574 — — 22,333,088 Bank of America I 5,491,000 17,463,000 6,051,000 (605,000 ) 28,400,000 Bank of America II 9,206,000 13,752,000 6,452,000 (810,000 ) 28,600,000 Atlas Copco 1,480,000 12,360,000 4,130,000 (220,000 ) 17,750,000 Total $ 53,229,574 $ 353,083,087 $ 110,652,188 $ (37,120,561 ) $ 479,844,288 (1) The property was acquired in a sale-leaseback transaction and accounted for as an asset acquisition. Total acquisition costs in the amount of $0.6 million have been included as part of the purchase price of the property. Pro Forma Financial Information (unaudited) The following condensed pro forma operating information is presented as if the Company’s properties acquired in 2015 had been included in operations as of February 11, 2014 (Date of Initial Capitalization). The pro forma operating information excludes certain nonrecurring adjustments, such as acquisition fees and expenses incurred, to reflect the pro forma impact these acquisitions would have on earnings on a continuous basis: Year Ended December 31, 2015 For the Period from February 11, 2014 (Date of Initial Capitalization) through December 31, 2014 Revenue $ 46,822,883 $ 46,981,515 Net income (loss) $ (300,173 ) $ 3,844,343 Net income (loss) attributable to noncontrolling interests $ (1,517 ) $ 450,624 Net income (loss) attributable to common stockholders (1) $ (1,071,459 ) $ 3,393,719 Net income to common stockholders per share, basic and diluted $ (0.08 ) $ 22.53 (1) Amount is net of net income (loss) attributable to noncontrolling interests and distributions to redeemable noncontrolling interests attributable to common stockholders. Future Minimum Contractual Rent Payments The future minimum contractual rent payments pursuant to the lease terms, with lease expirations ranging from 2016 to 2029, are shown in the table below: As of December 31, 2015 2016 $ 33,363,530 2017 33,914,671 2018 34,434,893 2019 35,168,781 2020 35,853,836 Thereafter 149,114,856 Total $ 321,850,567 Tenant and Portfolio Risk The Company monitors the credit of all tenants to stay abreast of any material changes in credit quality by (1) reviewing the credit ratings of tenants (or their parent companies or lease guarantors) that are rated by nationally recognized rating agencies; (2) reviewing financial statements and related metrics and information that are publicly available or that are required to be provided pursuant to the lease; (3) monitoring news reports and press releases regarding the tenants (or their parent companies or lease guarantors) and their underlying business and industry; and (4) monitoring the timeliness of rent collections. Intangibles The Company allocated a portion of the acquired real estate asset value to in-place lease valuation and tenant origination and absorption cost, as discussed above and as shown below. The in-place lease was measured against comparable leasing information and the present value of the difference between the contractual, in-place rent and the fair market rent was calculated using, as the discount rate, the capitalization rate utilized to compute the value of the real estate at acquisition. As of December 31, 2015 In-place lease valuation (below market) $ (37,120,561 ) In-place lease valuation (below market) - accumulated amortization 1,858,029 In-place lease valuation (below market), net $ (35,262,532 ) Tenant origination and absorption cost 110,652,188 Tenant origination and absorption cost - accumulated amortization $ (7,145,094 ) Tenant origination and absorption cost, net $ 103,507,094 The intangible assets are amortized over the remaining lease terms of the respective properties, which on a weighted-average basis, was approximately 8.9 years as of December 31, 2015 . There were no intangible assets as of December 31, 2014. The amortization of the intangible assets and other leasing costs for the year ended December 31, 2015 is as follows: Amortization (income) expense for the year ended December 31, 2015 In-place lease valuation $ (1,858,029 ) Tenant origination and absorption cost $ 7,145,094 The following table sets forth the estimated annual amortization (income) expense for in-place lease valuation, and tenant origination and absorption costs as of December 31, 2015 for the next five years : Year In-Place Lease Valuation Tenant Origination and Absorption Costs 2016 $ (3,039,971 ) $ 12,667,118 2017 $ (3,039,971 ) $ 12,667,118 2018 $ (3,039,971 ) $ 12,667,118 2019 $ (3,039,971 ) $ 12,667,118 2020 $ (3,039,971 ) $ 12,667,118

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt As of December 31, 2015 , the Company’s debt consisted of the following: Balance as of December 31, 2015 Contractual Interest Rate (1) Payment Type Loan Maturity Revolving Credit Facility $ 138,557,720 2.50% Interest Only December 2019 (2) AIG Loan 126,970,000 4.15% Interest Only (3) November 2025 Total $ 265,527,720 (1) The weighted-average interest rate as of December 31, 2015 was approximately 2.53% for the Company's variable-rate debt. The 2.50% contractual interest rate is based on a 360 -day year, pursuant to the Revolving Credit Facility, whereas the 2.53% weighted-average interest rate is based on a 365 -day year. As discussed below, the interest rate on the Revolving Credit Facility is a one-month LIBO Rate + 2.25% . As of December 31, 2015, the LIBO Rate was 0.25% (effective December 31, 2015). The weighted average interest rate as of December 31, 2015 was approximately 3.31% for the Company's fixed-rate and variable-rate debt combined and 4.15% for the Company's fixed-rate debt only. (2) The Revolving Credit Facility has an initial term of four years, maturing on December 12, 2018, and may be extended for a one -year period if certain conditions are met and upon payment of an extension fee. See discussion below. (3) The AIG Loan requires monthly payments of interest only, at a fixed rate, for the first five years and fixed monthly payments of principal and interest thereafter. Revolving Credit Facility On December 12, 2014, the Company, through the Operating Partnership, entered into a revolving credit agreement (the “Revolving Credit Facility”), co-led by KeyBank and JPMorgan Chase Bank, with KeyBank as administrative agent, JPMorgan Chase Bank as syndication agent, and a syndicate of lenders. Pursuant to the Revolving Credit Facility, the Company was provided with an initial commitment of $250.0 million , which commitment may be increased under certain circumstances up to a maximum total commitment of $1.25 billion . The Revolving Credit Facility has an initial term of four years, maturing on December 12, 2018, and may be extended for a one -year period if certain conditions are met. Availability under the Revolving Credit Facility is limited to the lesser of a (i) a specified leverage ratio applied to a portfolio real estate pool value computed as adjusted net operating income divided by a specified capitalization rate; or (ii) debt service coverage ratio ("DSCR") calculation, all as set forth in the credit agreement related to the Revolving Credit Facility. The Revolving Credit Facility has an interest rate based on the consolidated leverage ratio reported with the quarterly compliance certificate and is calculated based on the LIBO Rate plus the applicable LIBO Rate margin, as provided in the credit agreement related to the Revolving Credit Facility, or Base Rate plus the applicable base rate margin, as provided in the credit agreement related to the Revolving Credit Facility. The Base Rate is calculated as the greater of (i) the KeyBank Prime rate or (ii) the Federal Funds rate plus 0.50% . Payments under the Revolving Credit Facility are interest only and are due on the first day of each quarter. The Revolving Credit Facility will initially be secured by a pledge of 100% of the ownership interests in each special purpose entity which owns a pool property. Upon the occurrence of certain conditions set forth in the credit agreement, the security for the Revolving Credit Facility shall be released, at the Company's request, provided there is no event of default then existing, and the facility will then be deemed an unsecured revolver. In order to be compliant with the maximum unhedged variable rate debt covenant, the Company entered into two interest rate cap agreements for a total notional amount of $150.0 million . Both agreements expired on December 31, 2015. The total cost for the two interest rate cap agreements was $16,500 . On August 11, 2015, the Company exercised its right under the credit agreement to increase the total commitments from $250.0 million to $410.0 million . In addition, the Company entered into a Joinder Agreement adding one additional lender. No other participants joined the syndicate and no other terms of the revolving credit agreement were changed. AIG Loan On October 22, 2015, six special purpose entities that are wholly-owned by the Operating Partnership entered into promissory notes with The Variable Annuity Life Insurance Company, American General Life Insurance Company, and the United States Life Insurance Company (collectively, the "Lenders"), pursuant to which the Lenders provided such special purpose entities with a loan in the aggregate amount of approximately $127 million (the "AIG Loan"). The AIG Loan has a term of 10 years , maturing on November 1, 2025 and has a fixed rate of interest of 4.15% . The AIG Loan requires monthly payments of interest only for the first five years and fixed monthly payments of principal and interest thereafter. The AIG Loan is secured by cross-collateralized and cross-defaulted first lien deeds of trust and second lien deeds of trust on the properties with the following tenants: Administrative Offices of Pennsylvania Courts; American Express Travel Related Services Company, Inc.; American Showa, Inc.; MGM Resorts International; Owens Corning Sales, LLC; and Wood Group Mustang, Inc. Commencing October 31, 2017, each of the individual promissory notes comprising the AIG Loan may be prepaid but only if such prepayment is made in full, subject to 30 days' prior notice to the holder and payment of a prepayment premium in addition to all unpaid principal and accrued interest to the date of such prepayment. Pursuant to the terms of the Revolving Credit Facility and AIG Loan, the Company is subject to certain loan compliance covenants. The Company was in compliance with all applicable covenants as of December 31, 2015 .

Equity

Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Equity	Equity Preferred Equity On June 24, 2015, the Company and the Operating Partnership entered into a purchase agreement with a private fund affiliated with the Sponsor (the "Preferred Equity Investor") pursuant to which the Preferred Equity Investor agreed to provide up to an aggregate of $150.0 million of preferred equity investment (the "Preferred Equity Investment") in exchange for up to 15.0 million preferred units of limited partnership interest in the Operating Partnership ("Preferred Units"); provided, however, that the amount of the Preferred Units outstanding at any time was not permitted to exceed $50.0 million in value and provided further, that no Preferred Units were permitted to be issued after December 24, 2015. On October 21, 2015, the Operating Partnership redeemed 7,326,000 Series A Cumulative Redeemable Preferred Units (the "Preferred Units") held by the Preferred Equity Investor, for an aggregate redemption price of approximately $73.3 million (the "Redemption"). As a result, the Company recognized a redemption premium of approximately $0.4 million during the year ended December 31, 2015, which represented the write-off of original issuance costs related to the Preferred Units. After the Redemption, there were no Preferred Units outstanding, and the Preferred Investor no longer had any rights with respect to the Preferred Units. Effective October 22, 2015, the Preferred Equity Investment was terminated. Common Equity Reallocation of Shares in Public Offering The Company initially registered $2,200,000,000 in shares for sale, consisting of Class A common stock and Class T common stock. On December 5, 2014, the Company ceased offering Class T common stock, having sold no shares of Class T common stock at such date. On October 30, 2015, the Company ceased offering Class A common stock, having sold approximately $ 240.8 million in shares of Class A common stock, and reallocated the remaining shares, such that, effective November 2, 2015, the Company is offering up to approximately $1,800,000,000 in shares of Class T common stock in the Primary Offering. The Company determined to cease offering Class A shares and commence offering Class T shares due to recent regulatory developments and trends related to non-traded alternative investment products. Class A shares and Class T shares vote together as a single class, and each share is entitled to one vote on each matter submitted to a vote at a meeting of the Company's stockholders; provided that with respect to any matter that would only have a material adverse effect on the rights of a particular class of common stock, only the holders of such affected class are entitled to vote. Each class of common stock will be entitled to the same distributions as other classes, and the NAV per share will be the same across share classes. (See Note 7, Related Party Transactions, for an update regarding certain changes to fees as of November 2, 2015.) On September 16, 2015, the Company's board of directors declared a stock distribution in the amount of 0.000013699 shares of stock per day on the outstanding share of common stock payable to stockholders of record at the close of business each day of the period commencing on October 1, 2015 through December 31, 2015. As of December 31, 2015 , the Company issued 24,202,509 and 3,823,139 shares for gross proceeds of approximately $240.8 million and $ 38.2 million of Class A and Class T common stock, respectively, excluding shares of common stock issued pursuant to the DRP and stock distributions. As of December 31, 2015, 475,520 and 46,336 shares of Class A common stock had been issued pursuant to the DRP and stock distributions, respectively. As of December 31, 2015 , 7,451 and 1,215 shares of Class T common stock had been issued pursuant to the DRP and stock distributions, respectively. Par Value Adjustment The Company’s par value calculation and related additional paid in capital ("APIC") allocation from the inception of the offering was determined to be calculated incorrectly. The Company assessed the cumulative impact of the reclassification between the par value and APIC from inception, and recorded a reduction to the par value of $0.2 million and a corresponding increase to APIC for the same amount to correct the balances as of December 31, 2015. In accordance with SEC Staff Accounting Bulletin (“SAB”) No. 99, Materiality and SAB No. 108 (“SAB 108”), Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements , the Company assessed the materiality of this correction on its financial statements for the year ended December 31, 2015, using both the roll-over method and iron-curtain method as defined in SAB 108. The Company concluded the effect was not material to its financial statements for any prior period and, as such, those financial statements are not materially misstated. The Company also concluded that recording the correction in 2015 did not have a material effect on its financial statements for the year ended December 31, 2015. Distribution Reinvestment Plan The Company adopted a distribution reinvestment plan ("DRP"), that allows stockholders to have distributions otherwise distributable to them invested in additional shares of common stock. The plan became effective on the effective date of the Company’s Offering, July 31, 2014. No sales commission or dealer manager fee will be paid on shares sold through the DRP. The Company may amend or terminate the DRP for any reason at any time upon 10 days' prior written notice to stockholders. As of December 31, 2015 , and 2014, 482,971 and 5,333 shares, respectively, had been issued under the DRP in the Offering. Share Redemption Program The Company adopted a share redemption program that will enable stockholders to sell their stock to the Company in limited circumstances. As long as the common stock is not listed on a national securities exchange or over-the-counter market, stockholders who have held their stock for at least one year may be able to have all or any portion of their shares of stock redeemed by the Company. The Company may redeem the shares of stock presented for redemption for cash to the extent that there are sufficient funds available to fund such redemptions. In no event shall the Company redeem more than 5.0% of the weighted average shares outstanding during the prior calendar year, and the cash available for redemption will be limited to the proceeds from the sale of shares pursuant to the Company’s DRP. Share redemption requests must be received by the Company no later than the last business day of the calendar quarter, and shares will be redeemed on the last business day of the month following such calendar quarter. The redemption amount is expected to be the redemption rate set forth in the following table which is based upon the number of years the stock is held: Number Years Held Redemption Price Less than 1 No Redemption Allowed 1 or more but less than 2 90.0% of the price paid to acquire the shares from us 2 or more but less than 3 95.0% of the price paid to acquire the shares from us 3 or more but less than 4 97.5% of the price paid to acquire the shares from us 4 or more 100.0% of the price paid to acquire the shares from us The redemption price per share will be reduced by the aggregate amount of net proceeds per share, if any, distributed to the stockholders prior to the repurchase date as a result of a “special distribution.” While the board of directors does not have specific criteria for determining a special distribution, the Company expects that a special distribution will only occur upon the sale of a property and the subsequent distribution of the net sale proceeds. The redemption price per share is subject to adjustment as determined from time to time by the board of directors. As the use of the proceeds from the DRP for redemptions is outside the Company’s control, the net proceeds from the distribution reinvestment plan are considered to be temporary equity and are presented as common stock subject to redemption on the accompanying consolidated balance sheets. The cumulative proceeds from the distribution reinvestment plan, net of any redemptions, will be computed at each reporting date and will be classified as temporary equity on the Company’s consolidated balance sheets. As noted above, the redemption is limited to proceeds from new permanent equity from the sale of shares pursuant to the Company’s distribution reinvestment plan. As of December 31, 2015 , $4.6 million of common stock were available for redemption and $0.02 million of common stock were tendered for redemption and redeemed subsequent to December 31, 2015 .

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2015
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interests Noncontrolling interests represent limited partnership interests in the Operating Partnership in which the Company is the general partner. The Operating Partnership issued 20,000 limited partnership units to the Advisor for $10 per unit on February 11, 2014 in exchange for the initial capitalization of the Operating Partnership. As of December 31, 2015 , noncontrolling interest was approximately 0.1% of total shares outstanding, and approximately 0.1% of weighted average shares outstanding (both measures assuming limited partnership units were converted to common stock). The limited partners of the Operating Partnership will have the right to cause the Operating Partnership to redeem their limited partnership units for cash equal to the value of an equivalent number of shares, or, at the Company’s option, the Company may purchase such limited partners' limited partnership units by issuing one share of common stock for each limited partnership unit redeemed. These rights may not be exercised under certain circumstances which could cause the Company to lose its REIT election. Furthermore, limited partners may exercise their redemption rights only after their limited partnership units have been outstanding for one year . The limited partnership units are reported on the consolidated balance sheets as noncontrolling interests. The following summarizes the activity for noncontrolling interests for the year ended December 31, 2015 , and for the period from February 11, 2014 (Date of Initial Capitalization) through December 31, 2014: For the period from February 11, 2014 (Date of Initial Capitalization) For the year ended through December 31, 2015 December 31, 2014 Beginning balance $ 139,041 $ 200,000 Distributions to noncontrolling interests (11,000 ) (2,983 ) Net loss (30,852 ) (57,976 ) Ending balance $ 97,189 $ 139,041

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The following table summarizes the related party costs and fees incurred, paid and due to affiliates as of December 31, 2015 : As of December 31, 2014 Year Ended December 31, 2015 Payable Incurred Paid Payable Advisor and Property Manager fees Acquisition fees and expenses $ — $ 11,438,072 (3) $ 11,429,397 $ 8,675 Operating expenses — 1,911,387 1,802,849 108,538 Asset management fees — 2,623,770 2,223,650 400,120 Property management fees — 333,016 238,488 94,528 Organization and offering expenses — Organizational expenses 78,641 393,816 470,074 2,383 Offering expenses 306,514 2,755,834 2,603,132 459,216 Other costs advanced by the Advisor 448,213 2,598,100 3,023,284 23,029 Preferred offering costs — 375,000 375,000 — Sales commissions Class A shares 22,966 15,217,341 15,240,307 — Class T shares — 1,085,862 1,045,441 40,421 Dealer Manager fees Class A shares 9,842 6,920,777 6,930,619 — Class T shares — 382,314 367,438 14,876 Stockholder servicing fee — 24,968 — 24,968 Contingent Advisor Payment Holdback: (1) Organization and offering expenses (1) — 382,314 — 382,314 Dealer Manager fees (2) — 764,628 — 764,628 Total $ 866,176 $ 47,207,199 $ 45,749,679 $ 2,323,696 (1) Pursuant to the Advisory Agreement, as amended, commencing November 2, 2015, the Company remains obligated to reimburse the Advisor for organizational and offering costs incurred after such date, but only to the extent that such costs exceed 1.0% of the gross offering proceeds of the Company’s Offering. In addition, the Advisor is entitled to receive an acquisition fee in an amount up to 3.85% of the contract purchase price (as such term is defined in the Advisory Agreement) for each property the Company acquires. The acquisition fee consists of a 2.0% base acquisition fee and up to an additional 1.85% contingent advisor payment (the "Contingent Advisor Payment"); provided, however, that the first $5.0 million of amounts advanced by the Advisor for dealer manager fees and organizational and offering expenses (the "Contingent Advisor Payment Holdback") will be retained by the Company until the later of (a) the termination of the Offering, including any follow-on offerings, or (b) July 31, 2017, at which time such amount shall be paid to the Advisor. In connection with a follow-on offering, the Contingent Advisor Payment Holdback may increase, based upon the maximum offering amount in such follow-on offering and the amount sold in prior offerings. (2) Commencing November 2, 2015, the Dealer Manager Agreement provides that the Dealer Manager is entitled to receive a sales commission up to 3.0% of gross proceeds from Class T shares sold in the Primary Offering and a dealer manager fee equal to 3.0% of gross proceeds from Class T shares sold in the Primary Offering. Pursuant to the Dealer Manager Agreement, of the 3.0% dealer manager fee, 1.0% will be funded by the Company and 2.0% will be funded by the Advisor. (3) Aetna was acquired in a sale-leaseback transaction and accounted for as an asset acquisition. Total acquisition costs in the amount of $0.6 million have been allocated to the property. Advisory Agreement The Company entered into the advisory agreement with the Advisor and the Operating Partnership on July 31, 2014, which was subsequently amended (together with such amendments, the “Advisory Agreement”). The Advisor manages the Company’s day-to-day activities pursuant to the Advisory Agreement. Pursuant to the Advisory Agreement, the Company is obligated to reimburse the Advisor for certain services and payments, including payments made by the Advisor to third parties, including in connection with potential acquisitions. The Advisory Agreement requires, upon termination of the Offering, that any organizational and offering costs, including sales commissions, dealer manager fees, and stockholder servicing fees, incurred above 15% of gross equity raised in the Company’s Offering and that any organizational and offering costs not including sales commissions, dealer manager fees, and stockholder servicing fees, incurred above 3.5% of gross equity raised in the Company’s Offering shall be reimbursed to the Company. As of December 31, 2015, organizational and offering costs did not exceed these limitations. (See Note 2, Basis of Presentation and Summary of Significant Accounting Policies - Organizational and Offering Costs .) The Advisory Agreement provides that the Company shall reimburse the Advisor for organizational and offering costs, subject to the limitations described above. In conjunction with subsequent amendments to the Advisory Agreement, commencing November 2, 2015, the Company remains obligated to reimburse the Advisor for organizational and offering costs incurred after such date, but only to the extent that such costs exceed 1.0% of the gross offering proceeds of the Company’s Offering. In addition, commencing November 2, 2015, the Advisor is entitled to receive an acquisition fee in an amount up to 3.85% of the contract purchase price (as such term is defined in the Advisory Agreement) of each property the Company acquires. The acquisition fee consists of a 2.0% base acquisition fee and up to an additional 1.85% contingent advisor payment (the "Contingent Advisor Payment"); provided, however, that the first $5.0 million of amounts paid by the Advisor for dealer manager fees (as discussed below) and organizational and offering expenses (the "Contingent Advisor Payment Holdback") will be retained by the Company until the later of (a) the termination of the Offering, including any follow-on offerings, or (b) July 31, 2017, at which time such amount shall be paid to the Advisor. In connection with a follow-on offering, the Contingent Advisor Payment Holdback may increase, based upon the maximum offering amount in such follow-on offering and the amount sold in prior offerings. The amount of the Contingent Advisor Payment paid upon the closing of an acquisition will be reviewed on an acquisition by acquisition basis and such payment shall not exceed the then outstanding amounts paid by the Advisor for dealer manager fees and organizational and offering expenses at the time of such closing after taking into account the amount of the Contingent Advisor Payment Holdback described above. For these purposes, the amounts paid by the Advisor and considered as "outstanding" will be reduced by the amount of the Contingent Advisor Payment previously paid. The Advisor may waive or defer all or a portion of the acquisition fee or the Contingent Advisor Payment at any time and from time to time, in the Advisor's sole discretion. Dealer Manager Agreement The Company entered into a dealer manager agreement with the Dealer Manager on June 20, 2014, which was subsequently amended, and has entered and intends to continue to enter into participating dealer agreements with various broker-dealers authorizing them to sell shares of the Company’s stock in the Primary Offering (together with the dealer manager agreement and all amendments, the “Dealer Manager Agreement”). Through October 30, 2015, the Dealer Manager Agreement provided that the Dealer Manager was entitled to receive a sales commission and dealer manager fee equal to 7.0% and 3.0% , respectively, of gross proceeds from Class A shares sold in the Primary Offering. Commencing November 2, 2015, the Dealer Manager Agreement provides that the Dealer Manager is entitled to receive a sales commission equal to up to 3.0% of gross proceeds from Class T shares sold in the Primary Offering and a dealer manager fee equal to 3.0% of gross proceeds from Class T shares sold in the Primary Offering. Pursuant to the Dealer Manager Agreement, of the 3.0% dealer manager fee, 1.0% will be funded by the Company and 2.0% will be funded by the Advisor. In addition, the Dealer Manager is entitled to receive an ongoing stockholder servicing fee with respect to Class T shares that will be payable quarterly and will accrue daily in an amount equal to 1/365th of 1.0% of the purchase price per share (or, once reported, the amount of the estimated NAV) of Class T shares sold in the Primary Offering. The Company will cease paying the stockholder servicing fee with respect to the Class T shares sold in the Offering at the earlier of (i) the date at which the aggregate underwriting compensation from all sources equals 10% of the gross proceeds from the sale of shares in the Primary Offering (i.e., excluding proceeds from sales pursuant to the DRP); (ii) the fourth anniversary of the last day of the fiscal quarter in which the Offering (excluding the DRP offering) terminates; (iii) the date that such Class T share is redeemed or is no longer outstanding; and (iv) the occurrence of a merger, listing on a national securities exchange, or an extraordinary transaction. Because of the contingent nature of the stockholder servicing fee based on the circumstances noted above, the stockholder servicing fee will be recorded as an expense to the Company when incurred. For the year ended December 31, 2015, the Company incurred $0.02 million of stockholder servicing fee expense resulting in a total commitment for the contingent stockholder servicing fee over the next four years of approximately $1.5 million assuming such fees are paid in full. Upon the sale of shares by participating broker-dealers, the Dealer Manager will re-allow all of the selling commissions paid in connection with sales made by these participating broker-dealers and may, in the Dealer Manager’s discretion, re-allow all of the stockholder servicing fees paid in connection with sales of Class T shares made by these participating broker-dealers. In any instance in which the Dealer Manager does not re-allow the stockholder servicing fee to a participating broker-dealer, the Dealer Manager will return such fee to the Company. The Dealer Manager will also generally re-allow to participating broker-dealers a portion of the 3.0% dealer manager fee earned on the proceeds raised by the participating broker-dealers as marketing fees, reimbursement of the costs and expenses of attending training and education meetings sponsored by the Dealer Manager, payment of attendance fees required for employees of the Dealer Manager or other affiliates to attend retail seminars sponsored by participating broker-dealers, or to defray other distribution-related expenses. Asset Management Fee The Advisor will also receive an annual asset management fee for managing the Company’s assets equal to 1.0% of the aggregate asset value of its assets. The fee will be paid monthly. For the year ended December 31, 2015 , total asset management fees were $2.6 million . Property Management Agreement In the event that the Company contracts directly with non-affiliated third party property managers with respect to its individual properties, the Company pays the Property Manager an oversight fee equal to 1.0% of the gross revenues of the property managed, plus reimbursable costs as applicable. Reimbursable costs and expenses include wages and salaries and other expenses of employees engaged in operating, managing and maintaining the Company's properties, as well as certain allocations of office, administrative, and supply costs. In the event that the Company contracts directly with the Property Manager with respect to a particular property, the Company pays the Property Manager aggregate property management fees of up to 3.0% , or greater if the lease so allows, of gross revenues received for management of the Company's properties, plus reimbursable costs as applicable. These property management fees may be paid or re-allowed to third party property managers if the Property Manager contracts with a third party . In no event will the Company pay both a property management fee to the Property Manager and an oversight fee to the Property Manager with respect to a particular property. In addition, the Company may pay the Property Manager or its designees a leasing fee in an amount equal to the fee customarily charged by others rendering similar services in the same geographic area. The Company may also pay the Property Manager or its designees a construction management fee for planning and coordinating the construction of any tenant directed improvements for which the Company is responsible to perform pursuant to lease concessions, including tenant-paid finish-out or improvements. The Property Manager shall also be entitled to a construction management fee of 5.0% of the cost of improvements. In the event that the Property Manager assists with the development or redevelopment of a property, the Company may pay a separate market-based fee for such services. Subordinated Share of Net Sale Proceeds The Advisor may be entitled to a subordinated distribution if the Company sells its properties. Pursuant to certain provisions in the operating partnership agreement, if the Company sells its properties, the Advisor will be entitled to a distribution of 15.0% of remaining net sale proceeds after return of capital plus payment to stockholders of a 6.0% annual, cumulative, non-compounded return. Subordinated Performance Distribution Due Upon Termination of Advisory Agreement The Advisor may be entitled to a subordinated distribution if the Company terminates the advisory agreement. Pursuant to certain provisions contained in the operating partnership agreement, if the Company terminates the advisory agreement, the Advisor will be entitled to a distribution of 15.0% of the amount by which (1) the appraised value of the Company’s properties at the termination date, less the current outstanding amount of liabilities secured by the Company's assets, plus all distributions paid through the termination date exceeds (2) the sum of total stockholder invested capital plus distributions required to be made to generate a 6.0% cumulative, non-compounded return to the stockholders through the termination date. Subordinated Incentive Listing Distribution The Advisor may be entitled to a subordinated distribution if the Company lists its shares of common stock on a national securities exchange. Pursuant to certain provisions contained in the operating partnership agreement, if the Company lists its shares of common stock on a national securities exchange, the Advisor will be entitled to a distribution of 15.0% of the amount by which (1) the average market value of the shares outstanding at listing over a period of 30 trading days commencing after the first day of the sixth month, but no later than the last day of the eighteenth (18th) month, after the shares are first listed, plus all distributions made through the date that the market value of the shares is determined exceeds (2) the sum of total stockholder invested capital plus distributions required to be made to generate a 6.0% cumulative, non-compounded return to the stockholders through the date that the market value of the shares is determined. Subordinated Distribution Due Upon Extraordinary Transaction The advisor may be entitled to a subordinated distribution if the Company merges or engages in a corporate reorganization or other transaction in which substantially all of the business or securities of the Company are transferred. Pursuant to certain provisions contained in the operating partnership agreement, if the Company elects to engage in such an extraordinary transaction, the Advisor will be entitled to a distribution of 15% of the amount by which (1) the transaction amount, as defined in the operating partnership agreement, exceeds (2) the sum of total stockholder invested capital plus distributions required to be made to generate a 6.0% cumulative, non-compounded return to stockholders through the date the transaction amount is determined. Employee and Director Long-Term Incentive Plan The Company’s board of directors and sole stockholder adopted a long term incentive plan (“Plan”), which provides for the grant of awards to the Company's directors and full-time employees (should the Company ever have employees), directors and full-time employees of the Advisor and affiliate entities that provide services to the Company, and certain consultants that provide services to the Company, the Advisor, or affiliate entities. Awards granted under the Plan may consist of stock options, restricted stock, stock appreciation rights, distribution equivalent rights and other equity-based awards. The stock-based payment will be measured at fair value and recognized as compensation expense over the vesting period. The term of the Plan is ten years and the total number of shares of common stock reserved for issuance under the Plan will be equal to 10% of the outstanding shares of stock at any time, not to exceed 10,000,000 shares in the aggregate. As of December 31, 2015, 2,855,617 shares were reserved for issuance under the Plan, however, no awards had been granted under the Plan. Conflicts of Interest The Sponsor, Advisor, Property Manager and their officers and certain of their key personnel and their respective affiliates currently serve as key personnel, advisors, managers, sponsors and co-sponsors to some or all of 11 other real estate programs affiliated with the Sponsor, including Capital Essential Asset REIT, Inc. ("GCEAR") and Griffin-American Healthcare REIT III, Inc. ("GAHR III") each of which are publicly-registered, non-traded real estate investment trusts, and Griffin-American Healthcare REIT IV, Inc. ("GAHR IV"), a non-traded real estate investment trust in registration as of December 31, 2015. The Company's Sponsor is also the sponsor of Griffin-Benefit Street Partners BDC Corp. ("GB-BDC"), a non-diversified, closed-end management investment company that has elected to be regulated as a business development company under the 1940 Act, and Griffin Institutional Access Real Estate Fund ("GIREX"), a non-diversified, closed-end management investment company that is operated as an interval fund under the 1940 Act. Because these persons have competing demands on their time and resources, they may have conflicts of interest in allocating their time between the Company’s business and these other activities. Some of the material conflicts that the Advisor, the Dealer Manager or its affiliates will face are (1) competing demand for time of the Advisor’s executive officers and other key personnel from the Sponsor and other affiliated entities; (2) determining if certain investment opportunities should be recommended to the Company or another program sponsored or co-sponsored by the Sponsor; and (3) influence of the fee structure under the advisory agreement and distribution structure of the operating partnership agreement that could result in actions not necessarily in the long-term best interest of the stockholders. The board of directors has adopted the Sponsor’s acquisition allocation policy as to the allocation of acquisition opportunities among the Company and GCEAR, which is as follows: In the event that an investment opportunity becomes available, the Sponsor will first present the opportunity to GCEAR, who has a right of first refusal on all single tenant net lease real estate assets that fit within the investment objectives of GCEAR until the earlier to occur of (a) the date that is six months after the completion of GCEAR’s last offering of shares of its common stock or (b) the date on which GCEAR has invested all of its available investment equity and achieved a blended loan-to-value ratio of at least 40% across its portfolio of properties. The right of first refusal expired on October 29, 2014. Following the expiration of GCEAR’s right of first refusal, the Sponsor will allocate potential investment opportunities to GCEAR and the Company based on the following factors: • the investment objectives of each program; • the amount of funds available to each program; • the financial impact of the acquisition on each program, including each program’s earnings and distribution ratios; • various strategic considerations that may impact the value of the investment to each program; • the effect of the acquisition on diversification of each program’s investments; and • the income tax effects of the purchase to each program. If, after consideration of these factors, the investment opportunity is suitable for GCEAR and the Company, then: • GCEAR will have priority for investment opportunities of $75 million or greater; and • the Company will have priority for investment opportunities of $35 million or less, until such time as the Company reach $500 million in aggregate assets (based on contract purchase price). In the event all acquisition allocation factors have been exhausted and an investment opportunity remains equally suitable for GCEAR and the Company, the Sponsor will offer the investment opportunity to the REIT that has had the longest period of time elapse since it was offered an investment opportunity. If the Sponsor no longer sponsors GCEAR, then, in the event that an investment opportunity becomes available that is suitable, under all of the factors considered by the Advisor, for both the Company and one or more other entities affiliated with the Sponsor, the Sponsor has agreed to present such investment opportunities to the Company first, prior to presenting such opportunities to any other programs sponsored by or affiliated with the Sponsor. In determining whether or not an investment opportunity is suitable for more than one program, the Advisor, subject to approval by the board of directors, shall examine, among others, the following factors: • anticipated cash flow of the property to be acquired and the cash requirements of each program; • effect of the acquisition on diversification of each program’s investments; • policy of each program relating to leverage of properties; • income tax effects of the purchase to each program; • size of the investment; and • amount of funds available to each program and the length of time such funds have been available for investment. Economic Dependency The Company will be dependent on the Advisor and the Dealer Manager for certain services that are essential to the Company, including the sale of the Company’s shares of common stock available for issue, the identification, evaluation, negotiation, purchase and disposition of properties and other investments, management of the daily operations of the Company’s real estate portfolio, and other general and administrative responsibilities. In the event that these companies are unable to provide the respective services, the Company will be required to obtain such services from other resources.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. The Company is not a party to any material legal proceedings, nor is the Company aware of any pending or threatened litigation that would have a material adverse effect on the Company’s business, operating results, cash flows or financial condition should such litigation be resolved unfavorably.

Declaration of Distributions

Declaration of Distributions	12 Months Ended
	Dec. 31, 2015
Declaration of Distributions [Abstract]
Declaration of Distributions	Declaration of Distributions During the quarter ended December 31, 2015 , the Company paid cash distributions in the amount of $0.00150684932 per day per share on the outstanding shares of common stock payable to stockholders of record at the close of business on each day during the period from October 1, 2015 through December 31, 2015 . Such distributions were paid on a monthly basis, on or about the first day of the month, for the month then-ended. On December 16, 2015, the Company’s board of directors declared cash distributions in the amount of $0.00150273224 per day per share on the outstanding shares of common stock payable to stockholders of record at the close of business on each day during the period from January 1, 2016 through March 31, 2016. Such distributions payable to each stockholder of record during a month will be paid on such date of the following month as the Company’s Chief Executive Officer may determine. During the quarter ended December 31, 2015 , the Company paid stock distributions in the amount of 0.000013699 shares of stock per day on the outstanding shares of common stock payable to stockholders of record at the close of business each day of the period commencing on October 1, 2015 through December 31, 2015. Such distributions were paid on a monthly basis, on or about the first day of the month, for the month then-ended. On December 16, 2015, the Company's board of directors declared a stock distribution in the amount of 0.000013661 shares of stock per day on the outstanding shares of common stock payable to stockholders of record at the close of business each day of the period commencing on January 1, 2016 through March 31, 2016.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (unaudited)	Selected Quarterly Financial Data (Unaudited) Presented below is a summary of the unaudited quarterly financial information for the year ended December 31, 2015 : 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 30,179 $ 3,570,455 $ 9,682,928 $ 11,865,461 Net loss $ (1,026,391 ) $ (9,797,905 ) $ (2,638,219 ) $ (3,043,138 ) Net loss attributable to common stockholders $ (1,019,804 ) $ (9,801,118 ) $ (3,259,242 ) $ (3,167,440 ) Net loss per share $ (0.33 ) $ (0.90 ) $ (0.19 ) $ (0.13 ) 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ — $ — $ — $ — Net loss $ — $ — $ (175,918 ) $ (318,674 ) Net loss attributable to common stockholders $ — $ — $ (89,366 ) $ (306,640 ) Net loss per share $ — $ — $ (4.32 ) $ (0.60 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Status of the Offering As of March 4, 2016 , the Company has received and accepted subscriptions in the Offering for 24,199,759 and 10,030,391 Class A and Class T shares of common stock, or $240,781,691 and $100,163,658 , respectively, excluding Class A and Class T shares of common stock issued pursuant to the DRP. To date, a total of $5,775,711 and $380,211 in distributions of Class A and Class T common stock were reinvested pursuant to the DRP, respectively, and 607,970 and 40,022 Class A and Class T shares of common stock were issued pursuant to the DRP, respectively. Declaration of Distributions On March 2, 2016, the Company’s board of directors declared cash distributions in the amount of $0.00150273224 per day per share on the outstanding shares of common stock payable to stockholders of record at the close of business on each day during the period from April 1, 2016 through June 30, 2016. Such distributions payable to each stockholder of record during a month will be paid on such date of the following month as the Company’s Chief Executive Officer may determine. On March 2, 2016, the Company’s board of directors declared stock distributions in the amount of 0.000013661 per day per share on the outstanding shares of common stock payable to stockholders of record at the close of business on each day during the period from April 1, 2016 through June 30, 2016. Such distributions payable to each stockholder of record during a month will be paid on such date of the following month as the Company’s Chief Executive Officer may determine. Acquisition of Toshiba TEC Property On January 21, 2016, the Company acquired the Toshiba TEC property consisting of a four -story, Class 'A' office property of approximately 200,850 square feet located in Durham, North Carolina. The Toshiba TEC property is leased in its entirety to Toshiba TEC Corporation, which in turn subleased its interest to Toshiba Global Commerce Solutions, Inc. The purchase price of $35.8 million plus closing costs and certain acquisition expenses to third parties (reduced by certain adjustments, credits, and previous deposits) were funded with proceeds from the Company's public offering and a draw of $17.9 million pursuant to the Company's Revolving Credit Facility, as discussed in Note 4, Debt . Amendment No. 4 to Advisory Agreement On February 9, 2016, the Company entered into Amendment No. 4 to Advisory Agreement (the "Amendment") between the Company, the Advisor, and the Operating Partnership, to clarify the definition of the Contingent Advisor Payment Holdback, which consists of the first $5.0 million of amounts paid by the Advisor for dealer manager fees and organizational and offering expenses.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Initial Cost to Company Gross Carrying Amount at December 31, 2015 Life on which depreciation in latest income statement is computed Property Type ST Encumbrances Land Building and Improvements Land Building and Improvements Total (1) Accumulated Depreciation Date of Construction Date of Acquisition Owens Corning Industrial NC $ 3,300,000 $ 575,000 $ 5,166,626 $ 575,000 $ 5,166,626 $ 5,741,626 $ 140,519 N/A 3/9/2015 5-40 years Westgate II Office TX 34,200,000 3,732,053 55,101,476 3,732,053 55,101,476 58,833,529 1,773,562 N/A 4/1/2015 5-40 years Administrative Office of Pennsylvania Courts Office PA 6,070,000 1,207,000 8,936,000 1,207,000 8,936,000 10,143,000 256,311 N/A 4/22/2015 5-40 years American Express Center Data Center/Office AZ 54,900,000 5,750,000 113,670,000 5,750,000 113,670,000 119,420,000 4,308,338 N/A 5/11/2015 5-40 years MGM Corporate Center Office NV 18,180,000 4,260,342 28,704,658 4,260,342 28,704,658 32,965,000 780,283 N/A 5/27/2015 5-40 years American Showa Industrial OH 10,320,000 1,452,649 15,747,351 1,452,649 15,747,351 17,200,000 338,772 N/A 5/28/2015 5-40 years Huntington Ingalls Industrial VA (2) 5,415,000 29,836,000 5,415,000 29,836,000 35,251,000 570,441 N/A 6/26/2015 5-40 years Wyndham Office NJ (2) 5,695,816 76,531,589 5,695,816 76,531,589 82,227,405 1,355,981 N/A 6/26/2015 5-40 years Exel Distribution Center OH (2) 1,988,200 13,958,000 1,988,200 13,958,000 15,946,200 294,978 N/A 6/30/2015 5-40 years Morpho Detection Office MA (2) 2,350,000 9,482,000 2,350,000 9,482,000 11,832,000 227,704 N/A 7/1/2015 5-40 years FedEx Freight Industrial OH (2) 2,774,000 25,913,000 2,774,000 25,913,000 28,687,000 425,075 N/A 7/22/2015 5-40 years Aetna Office AZ (2) 1,852,514 20,480,575 1,852,514 20,480,575 22,333,089 218,684 N/A 7/29/2015 5-40 years Bank of America I Office CA (2) 5,491,000 23,514,000 5,491,000 23,514,000 29,005,000 597,578 N/A 8/14/2015 5-40 years Bank of America II Office CA (2) 9,206,000 20,204,000 9,206,000 20,204,000 29,410,000 590,529 N/A 8/14/2015 5-40 years Atlas Copco Office MI (2) 1,480,000 16,490,000 1,480,000 16,490,000 17,970,000 181,880 N/A 10/1/2015 5-40 years Total $ 126,970,000 $ 53,229,574 $ 463,735,275 $ 53,229,574 $ 463,735,275 $ 516,964,849 $ 12,060,635 (1) As of December 31, 2015, cost capitalized subsequent to acquisition was zero . (2) The acquisitions were funded by the credit facility. Activity for the year ended December 31, 2015 Real estate facilities Balance at beginning of year $ — Acquisitions 516,964,849 Improvements — Construction-in-progress — Balance at end of year $ 516,964,849 Accumulated depreciation Balance at beginning of year $ — Depreciation expense 12,060,635 Balance at end of year $ 12,060,635 Real estate facilities, net $ 504,904,214

Basis of Presentation and Sum19

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. There were no cash equivalents, nor were there restrictions on the use of the Company’s cash balance as of December 31, 2015 and 2014 . The Company maintains its cash accounts with major financial institutions. The cash balances consist of business checking accounts. These accounts are insured by the Federal Deposit Insurance Corporation up to $250,000 at each institution. The Company has not experienced any losses with respect to cash balances in excess of government provided insurance. Management believes there was no significant concentration of credit risk with respect to these cash balances at December 31, 2015 .
Real Estate Assets	Real Estate Assets Real Estate Purchase Price Allocation The Company applies the provisions in ASC 805-10, Business Combinations , to account for the acquisition of real estate, or real estate related assets, in which a lease, or other contract, is in place representing an active revenue stream, as a business combination. In accordance with the provisions of ASC 805-10, the Company recognizes the assets acquired, the liabilities assumed and any noncontrolling interest in the acquired entity at their fair values as of the acquisition date, on an “as if vacant” basis. Further, the Company recognizes the fair value of assets acquired, liabilities assumed and any noncontrolling interest in acquisitions of less than a 100% interest when the acquisition constitutes a change in control of the acquired entity. The accounting provisions have also established that acquisition-related costs and restructuring costs are considered separate and not a component of a business combination and, therefore, are expensed as incurred. Acquired in-place leases are valued as above-market or below-market as of the date of acquisition. The in-place lease valuation is measured based on the present value (using an interest rate, which reflects the risks associated with the leases acquired) of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) management’s estimate of fair market lease rates for the corresponding in-place leases over a period equal to the remaining non-cancelable term of the lease for above-market leases, taking into consideration below-market extension options for below-market leases. In addition, any renewal options are considered and will be included in the valuation of in-place leases if (1) it is likely that the tenant will exercise the option, and (2) the renewal rent is considered to be sufficiently below a fair market rental rate at the time of renewal. The above-market and below-market lease values are capitalized as intangible lease assets or liabilities and amortized as an adjustment to rental income over the remaining terms of the respective leases, including below market renewal options. The aggregate fair value of in-place leases includes direct costs associated with obtaining a new tenant, opportunity costs associated with lost rentals, which are avoided by acquiring an in-place lease, and tenant relationships. Direct costs associated with obtaining a new tenant include commissions, tenant improvements, and other direct costs and are estimated using methods similar to those used in independent appraisals and management’s consideration of current market costs to execute a similar lease. These direct costs are considered intangible lease assets and will be included with real estate assets on the consolidated balance sheets. The intangible lease assets will be amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid, including real estate taxes, insurance, and other operating expenses, pursuant to the in-place leases over a market lease-up period for a similar lease. Customer relationships are valued based on management’s evaluation of certain characteristics of each tenant’s lease and the Company’s overall relationship with that respective tenant. Characteristics management will consider in allocating these values include the nature and extent of the Company’s existing business relationships with tenants, growth prospects for developing new business with the tenant, the tenant’s credit quality and expectations of lease renewals (including those existing under the terms of the lease agreement), among other factors. These intangibles will be included in intangible lease assets on the consolidated balance sheets and will be amortized to expense over the remaining term of the respective leases. The determination of the fair values of the assets and liabilities acquired requires the use of significant assumptions about current market rental rates, rental growth rates, discount rates and other variables.
Depreciation	Depreciation The purchase price of real estate to be acquired and the costs related to the development, construction, and property improvements are capitalized. Repairs and maintenance costs include all costs that do not extend the useful life of the real estate asset and are expensed as incurred. The Company considers the period of future benefit of an asset to determine the appropriate useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Buildings 40 years Building Improvements 5-20 years Land Improvements 15-25 years Tenant Improvements Shorter of estimated useful life or remaining contractual lease term Tenant Origination and Absorption Cost Remaining contractual lease term In-place Lease Valuation Remaining contractual lease term with consideration as to below-market extension options for below-market leases
Impairment of Real Estate and Related Intangible Assets	Impairment of Real Estate and Related Intangible Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of real estate and related intangible assets may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of real estate and related intangible assets may not be recoverable, management will assess the recoverability of the assets by determining whether the carrying value of the assets will be recovered through the undiscounted future operating cash flows expected from the use of the assets and the eventual disposition. If based on this analysis the Company does not believe that it will be able to recover the carrying value of the asset, the Company will record an impairment loss to the extent the carrying value exceeds the estimated fair value of the asset. Projections of expected future undiscounted cash flows require management to estimate future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, discount rates, the number of months it takes to re-lease the property and the number of years the property is held for investment.
Real Estate Acquisition Deposits	Real Estate Acquisition Deposits Real estate acquisition deposits include funds held in escrow that will be applied towards the purchase of real estate.
Deferred Charges	Deferred Financing Costs Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing. These costs are amortized to, and included as a component of, interest expense over the terms of the respective financing agreements.
Revenue Recognition	Revenue Recognition Leases associated with the acquisition and contribution of certain real estate assets (see Note 3, Real Estate ) have net minimum rent payment increases during the term of the lease and are recorded to rental revenue on a straight-line basis, commencing as of the contribution or acquisition date. If a lease provides for contingent rental income, the Company will defer the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. The Company recognized deferred rent from tenants of approximately $1.5 million for the year ended December 31, 2015. As of December 31, 2015, the cumulative deferred rent balance was $1.5 million and is included in other assets on the consolidated balance sheet. Tenant reimbursement revenue, which is comprised of additional amounts collected from tenants for the recovery of certain operating expenses, including repair and maintenance, property taxes and insurance, and capital expenditures, to the extent allowed pursuant to the lease (collectively "Recoverable Expenses"), is recognized as revenue when the additional rent is due. Recoverable Expenses to be reimbursed by a tenant are determined based on the Company's estimate of the property's operating expenses for the year, pro rated based on leased square footage of the property, and are collected in equal installments as additional rent from the tenant, pursuant to the terms of the lease. At the end of the calendar year, the Company reconciles the amount of additional rent paid by the tenant during the year to the actual amount of Recoverable Expenses incurred by the Company for the same period. The difference, if any, is either charged or credited to the tenant pursuant to the provisions of the lease. In certain instances the lease may restrict the amount the Company can recover from the tenant such as a cap on certain or all property operating expenses.
Organizational and Offering Costs	Organizational and Offering Costs Organizational and offering costs of the Offering were paid by either the Company or the Sponsor, on behalf of the Advisor, for the Company and will be reimbursed from the proceeds of the Offering (effective November 2, 2015, only to the extent such costs exceed 1.0% of gross offering proceeds from the Company's public offering). Organizational and offering costs consist of all expenses (other than sales commissions, dealer manager fees and stockholder servicing fees) to be paid by the Company in connection with the Offering, including legal, accounting, printing, mailing and filing fees, charges from the escrow holder and other accountable offering expenses, including, but not limited to: (i) amounts to reimburse the Advisor for all marketing related costs and expenses such as salaries and direct expenses of employees of the Advisor and its affiliates in connection with registering and marketing the Company’s shares; (ii) technology costs associated with the offering of the Company’s shares; (iii) costs of conducting training and education meetings; (iv) costs of attending seminars conducted by participating broker-dealers; and (v) payment or reimbursement of bona fide due diligence expenses. Pursuant to the Advisory Agreement, in no event will the Company be obligated to reimburse the Advisor for organizational and offering costs (effective November 2, 2015, only to the extent such costs exceed 1.0% of gross offering proceeds from the Company's public offering) incurred in connection with the Offering totaling in excess of (i) 3.5% (excluding sales commissions, dealer manager fees and stockholder servicing fees) of the gross proceeds raised in the Offering (excluding gross proceeds from the distribution reinvestment plan), and (ii) 15% (including sales commissions, dealer manager fees, stockholder servicing fees and non-accountable due diligence expense allowance but excluding acquisition fees and expenses) of the gross proceeds raised in the Offering (excluding gross proceeds from the distribution reinvestment plan). If the organization and offering costs exceeded such limits discussed above, within 60 days after the end of the month in which the Offering terminated or was completed, the Advisor would have been obligated to reimburse the Company for any excess amounts. As long as the Company is subject to the Statement of Policy Regarding Real Estate Investment Trusts published by the North American Securities Administrators Association (“NASAA REIT Guidelines”), such limitations discussed above will also apply to any future public offerings. As of December 31, 2015 and 2014, organizational and offering costs were 1.4% and 13.9% of gross offering proceeds, respectively, excluding sales commissions, dealer manager fees and stockholder servicing fees, and 10.5% and 21.6% of gross offering proceeds, respectively, including sales commissions, dealer manager fees and stockholder servicing fees. As of December 31, 2015 , organizational and offering costs did not exceed the limitations. (See Note 7, Related Party Transactions ).
Stockholder Service Fee	Stockholder Servicing Fee The Company will pay the dealer manager a stockholder servicing fee with respect to the Class T shares sold as additional compensation to the dealer manager and participating broker-dealers for providing ongoing stockholder services.The stockholder servicing fee will accrue daily equal to 1/365th of 1% of the purchase price per share of the Class T shares sold and will be paid quarterly. The Company will cease paying the stockholder servicing fee with respect to the Class T shares sold in this offering upon the occurrence of certain defined events. The dealer manager will generally re-allow 100% of the stockholder servicing fee to participating broker-dealers; provided, however, that with respect to any individual investment, the dealer manager will not re-allow the related stockholder servicing fee to any participating broker-dealer if such participating broker-dealer ceases to hold the account related to such investment. In addition, the dealer manager will not re-allow the stockholder servicing fee to any participating broker-dealer if such participating broker-dealer does not have a current executed selling agreement with the dealer manager. In any instance in which the dealer manager does not re-allow the stockholder servicing fee to a participating broker-dealer, the dealer manager will return such fee to the Company. As the payment of stockholder servicing fee is contingent upon the continued servicing of the stockholder's account by the participating broker-dealer, the fee is expensed as incurred.
Noncontrolling Interests	Noncontrolling Interests Due to the Company’s control through the general partnership interest in the Operating Partnership and the limited rights of the limited partner, the Operating Partnership, including its wholly-owned subsidiary, is consolidated with the Company and the limited partner interest is reflected as noncontrolling interests in the accompanying consolidated balance sheets. The Company reports noncontrolling interests in subsidiaries within equity in the consolidated balance sheets, but separate from the parent shareholders’ equity. Also, any acquisitions or dispositions of noncontrolling interests that do not result in a change of control will be accounted for as equity transactions. Further, the Company will recognize a gain or loss in net income (loss) when a subsidiary is deconsolidated upon a change in control. Net income (loss) attributable to noncontrolling interests will be shown as a reduction to net income (loss) in calculating net income (loss) attributable to common stockholders. Any future purchase or sale of interest in an entity that results in a change of control may have a material impact on the Company’s financial statements as the Company’s interest in the entity will be recognized at fair value with gains and losses included in net income (loss).
Fair Value Measurements	Fair Value Measurements The fair value of financial and nonfinancial assets and liabilities is based on a fair value hierarchy established by the FASB that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described as follows: • Level 1. Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets; • Level 2 . Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3. Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Financial instruments as of December 31, 2015 consisted of cash and cash equivalents, accounts receivable, accounts payable and other accrued expenses, mortgage payable and other borrowings. The amounts of the financial instruments presented in the consolidated financial statements substantially approximate their fair value as of December 31, 2015 . The fair value of the mortgage loan is estimated by discounting the loan’s principal balance over the remaining term of the mortgage using current borrowing rates available to the Company for debt instruments with similar terms and maturities. The Company determined that the mortgage loan valuation in its entirety is classified in Level 2 of the fair value hierarchy, as the fair value is based on current pricing for debt with similar terms as the in-place debt, and there were no transfers into and out of fair value measurement levels during the year ended December 31, 2015 .
Income Taxes	Income Taxes The Company intends to make an election to be taxed as a REIT, under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, and expects to be taxed as such for the taxable year ending December 31, 2015, assuming the Company satisfies the REIT qualification requirements for such year. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to currently distribute at least 90% of the REIT’s ordinary taxable income to stockholders. As a REIT, the Company generally will not be subject to federal income tax on taxable income that is distributed to stockholders. If the Company fails to qualify as a REIT in any taxable year, after the Company initially qualifies to be taxed as a REIT, the Company will then be subject to federal income taxes on the taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially adversely affect net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and will operate in such a manner as to qualify for treatment as a REIT and intends to operate in the foreseeable future in such a manner that it will remain qualified as a REIT for federal income tax purposes. The Company could engage in certain business activities that could have an adverse effect on its REIT qualification. The Company has elected to isolate these business activities in the books and records of the TRS. In general, the TRS may perform additional services for the Company’s tenants and generally may engage in any real estate or non-real estate related business. The TRS will be subject to corporate federal and state income tax. As of December 31, 2015 , the TRS has not commenced operations.
Per Share Data	Per Share Data The Company reports earnings per share for the period as (1) basic earnings per share computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the period, and (2) diluted earnings per share computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding, including common stock equivalents.
Segment Information	Segment Information ASC Topic 280, Segment Reporting , establishes standards for reporting financial and descriptive information about a public entity’s reportable segments. The Company internally evaluates all of the properties and interests therein as one reportable segment.
Unaudited Data	Unaudited Data Any references to the number of buildings, square footage, number of leases, occupancy, and any amounts derived from these values in the notes to the consolidated financial statements are unaudited and outside the scope of the Company's independent registered public accounting firm's audit of its consolidated financial statements in accordance with the standards of the Public Company Accounting Oversight Board.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases ("ASU 2016-02"). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 will be effective beginning in the first quarter of 2019. Early adoption of ASU 2016-02 as of its issuance is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on the consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement Period Adjustments (“ASU 2015-16”). In a business combination, ASU 2015-16 requires an acquirer to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The acquirer is required to disclose, by financial statement line item, the nature and amount for the adjustments and the current period income statement impact related to prior periods. The amendments in this ASU are effective for fiscal years beginning December 15, 2016 and interim periods beginning after December 15, 2017. Early adoption is permitted. The Company has elected to adopt ASU No. 2015-16 early, beginning with the quarter ended September 30, 2015. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30) (“ASU 2015-03”) to amend the accounting guidance for the presentation of debt issuance costs. The standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for public business entities for fiscal years beginning after December 15, 2015 and retrospective application is required. Early adoption of the guidance is permitted. The Company does not expect the adoption of ASU No. 2015-03 to have a significant impact on its financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation: Amendments to the Consolidation Analysis ("ASU No. 2015-02"), which amended the existing accounting standards for consolidation under both the variable interest model and the voting model. Under ASU No. 2015-02, companies will need to re-evaluate whether an entity meets the criteria to be considered a VIE, whether companies still meet the definition of primary beneficiaries, and whether an entity needs to be consolidated under the voting model. ASU No. 2015-02 may be applied using a modified retrospective approach or retrospectively, and is effective for reporting periods beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of ASU No. 2015-02 to have a significant impact on its financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU No. 2014-15 to have a significant impact on its financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”). ASU No. 2014-09 replaces substantially all industry-specific revenue recognition requirements and converges areas under this topic with International Financial Reporting Standards. ASU No. 2014-09 implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. ASU No. 2014-09 also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows from contracts with customers. Other major provisions in ASU No. 2014-09 include capitalizing and amortizing certain contract costs, ensuring the time value of money is considered in the applicable transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. ASU No. 2014-09 was originally effective for reporting periods beginning after December 31, 2016 (for public entities). On April 1, 2015, the FASB voted to defer the effective date of ASU No. 2014-09 by one year, to annual reporting periods beginning after December 15, 2017. On July 9, 2015, the FASB affirmed its proposal to defer the effective date to annual reporting periods beginning after December 15, 2017, although entities may elect to adopt the standard as of the original effective date. The Company is currently evaluating the potential impact of the pending adoption of this new guidance on its consolidated financial statements.

Basis of Presentation and Sum20

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Property, Plant and Equipment	The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Buildings 40 years Building Improvements 5-20 years Land Improvements 15-25 years Tenant Improvements Shorter of estimated useful life or remaining contractual lease term Tenant Origination and Absorption Cost Remaining contractual lease term In-place Lease Valuation Remaining contractual lease term with consideration as to below-market extension options for below-market leases
Organizational and Offering Costs Incurred	Organizational and offering costs incurred as of December 31, 2015 and 2014, including those incurred by the Company and due to the Advisor, for the Offering are as follows: December 31, 2015 December 31, 2014 Cumulative offering costs $ 28,668,982 $ 2,063,907 Cumulative organizational costs $ 517,841 $ 311,864 Organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback $ 3,534,806 $ 1,527,392 Less payments (3,073,206 ) — Adjustment to organizational and offering costs pursuant to limitations to which the Advisor is subject — (1,142,237 ) Net of payments of organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback $ 461,600 $ 385,155 Contingent Advisor Payment Holdback (1) : Organizational and offering costs advanced by the Advisor 382,314 — Dealer Manager fees advanced by the Advisor 764,628 — Net organizational and offering costs advanced by the Advisor $ 1,608,542 $ 385,155 (1) See Note 7, Related Party Transactions , for discussion on Contingent Advisor Payment Holdback.

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Aggregate purchase price of the acquisitions	All 15 properties ( 19 buildings) in the Company's real estate portfolio were acquired during year ended December 31, 2015 , as shown below: Property Location Tenant/Major Lessee Acquisition Date Purchase Price Square Feet Acquisition Fees and Reimbursable Expenses Paid to the Advisor (2) Revolving Credit Facility (3) Preferred Equity Year of Expiration (for Major Lessee) Owens Corning Concord, NC Owens Corning Sales, LLC 3/9/2015 $ 5,500,000 61,200 $ 246,676 $ — $ — 2024 Westgate II Houston, TX Wood Group Mustang, Inc. 4/1/2015 57,000,000 186,300 1,479,601 30,000,000 — 2024 Administrative Office of Pennsylvania Courts Mechanicsburg, PA Administrative Office of Pennsylvania Courts 4/22/2015 10,115,000 56,600 346,216 6,100,000 — 2024 American Express Center (1)(5) Phoenix, AZ American Express Travel Related Services Company, Inc. 5/11/2015 91,500,000 513,400 1,986,135 45,700,000 — 2023 MGM Corporate Center (1)(6) Las Vegas, NV MGM Resorts International 5/27/2015 30,300,000 168,300 723,939 25,000,000 — 2024 American Showa Columbus, OH American Showa, Inc. 5/28/2015 17,200,000 304,600 405,200 10,300,000 — 2025 Huntington Ingalls (1)(7) Hampton, VA Huntington Ingalls Incorporated 6/26/2015 34,300,000 515,500 796,459 20,500,000 — 2027 Wyndham Parsippany, NJ Wyndham Worldwide Operations 6/26/2015 81,400,000 203,500 1,697,198 48,800,000 32,560,000 2029 Exel Groveport, OH Exel, Inc. 6/30/2015 15,946,200 312,000 461,663 9,500,000 — 2022 Morpho Detection Andover, MA Morpho Detection LLC 7/1/2015 11,500,000 64,200 342,426 6,900,000 2,600,000 2027 FedEx Freight West Jefferson, OH FedEx Freight, Inc. 7/22/2015 28,000,000 160,400 651,197 16,800,000 10,800,000 2024 Aetna Tuscon, AZ Aetna Life Insurance Co. 7/29/2015 21,700,000 100,300 561,974 21,600,000 — 2025 Bank of America I Simi Valley, CA Bank of America, N.A. 8/14/2015 28,400,000 206,900 611,592 17,040,000 11,161,000 2020 Bank of America II Simi Valley, CA Bank of America, N.A. 8/14/2015 28,600,000 273,200 615,899 17,160,000 11,239,000 2020 Atlas Copco Auburn Hills, MI Atlas Copco Assembly Systems LLC 10/1/2015 17,750,000 120,000 511,897 10,650,000 4,900,000 2025 $ 479,211,200 3,246,400 $ 11,438,072 $ 286,050,000 $ 73,260,000 (1) Multi-building property acquisitions are considered one property for portfolio purposes. (2) The Advisor is entitled to receive acquisition fees equal to 2.0% of acquisition value and acquisition expense reimbursement for actual acquisition expenses incurred, estimated to be approximately 1% of acquisition value. Expense reimbursement paid to the Advisor is included in acquisition fees and expenses to affiliates on the consolidated statements of operations or are capitalized as part of the acquisition if the property does not meet the definition of a "business." See Note 2, Basis of Presentation and Summary Accounting Policies. As of December 31, 2015, the Company capitalized $0.6 million of affiliate acquisition expenses related to a sale-lease back transaction of the Aetna property. (See Note 7, Related Party Transactions, for an update regarding certain changes to acquisition fees as of November 2, 2015.) (3) Represents draws from the Revolving Credit Facility which is discussed in Note 4, Debt, in conjunction with the acquisition . The remaining purchase price was funded with net proceeds raised in the Offering with the exception of the Wyndham, Morpho Detection, FedEx Freight, Bank of America I & II properties, and Atlas Copco for which the remaining proceeds were funded from the preferred equity investment which is discussed in Note 5, Equity . (4) Net rent is based on (a) the contractual base rental payments assuming the lease requires the tenant to reimburse the Company for certain operating expenses or the property is self managed by the tenant and the tenant is responsible for all, or substantially all, of the operating expenses; or (b) contractual rent payments less certain operating expenses that are the Company's responsibility for the 12 -month period subsequent to December 31, 2015 and includes assumptions that may not be indicative of the actual future performance of a property, including the assumption that the tenant will perform its obligations under its lease agreement during the next 12 months. Actual base rent, net, for properties acquired for the year ended December 31, 2015 was $17.9 million . (5) The American Express Center property consists of two buildings. (6) The MGM Corporate Center property consists of three buildings. (7) The Huntington Ingalls property consists of two buildings.
Summary of purchase price allocation	The following summarizes the purchase price allocation of the 2015 acquisitions through December 31, 2015 : Land Building and Improvements Tenant Origination and Absorption Cost In-Place Lease Valuation Above/(Below) Market Total Owens Corning $ 575,000 $ 4,605,876 $ 560,750 $ (241,626 ) $ 5,500,000 Westgate II 3,732,053 43,596,739 11,504,737 (1,833,529 ) 57,000,000 Administrative Office of Pennsylvania Courts 1,207,000 7,201,000 1,735,000 (28,000 ) 10,115,000 American Express Center 5,750,000 73,750,000 39,920,000 (27,920,000 ) 91,500,000 MGM Corporate Center 4,260,342 21,660,600 7,044,058 (2,665,000 ) 30,300,000 American Showa 1,452,649 13,473,559 2,273,792 — 17,200,000 Huntington Ingalls 5,415,000 23,341,000 6,495,000 (951,000 ) 34,300,000 Wyndham 5,695,816 60,978,739 15,552,851 (827,406 ) 81,400,000 Exel 1,988,200 11,947,000 2,011,000 — 15,946,200 Morpho Detection 2,350,000 5,833,000 3,649,000 (332,000 ) 11,500,000 FedEx Freight 2,774,000 22,640,000 3,273,000 (687,000 ) 28,000,000 Aetna (1) 1,852,514 20,480,574 — — 22,333,088 Bank of America I 5,491,000 17,463,000 6,051,000 (605,000 ) 28,400,000 Bank of America II 9,206,000 13,752,000 6,452,000 (810,000 ) 28,600,000 Atlas Copco 1,480,000 12,360,000 4,130,000 (220,000 ) 17,750,000 Total $ 53,229,574 $ 353,083,087 $ 110,652,188 $ (37,120,561 ) $ 479,844,288 (1) The property was acquired in a sale-leaseback transaction and accounted for as an asset acquisition. Total acquisition costs in the amount of $0.6 million have been included as part of the purchase price of the property.
Schedule of pro forma financial information	The pro forma operating information excludes certain nonrecurring adjustments, such as acquisition fees and expenses incurred, to reflect the pro forma impact these acquisitions would have on earnings on a continuous basis: Year Ended December 31, 2015 For the Period from February 11, 2014 (Date of Initial Capitalization) through December 31, 2014 Revenue $ 46,822,883 $ 46,981,515 Net income (loss) $ (300,173 ) $ 3,844,343 Net income (loss) attributable to noncontrolling interests $ (1,517 ) $ 450,624 Net income (loss) attributable to common stockholders (1) $ (1,071,459 ) $ 3,393,719 Net income to common stockholders per share, basic and diluted $ (0.08 ) $ 22.53 (1) Amount is net of net income (loss) attributable to noncontrolling interests and distributions to redeemable noncontrolling interests attributable to common stockholders.
Schedule of future minimum net rent payments	The future minimum contractual rent payments pursuant to the lease terms, with lease expirations ranging from 2016 to 2029, are shown in the table below: As of December 31, 2015 2016 $ 33,363,530 2017 33,914,671 2018 34,434,893 2019 35,168,781 2020 35,853,836 Thereafter 149,114,856 Total $ 321,850,567
Schedule of in-place lease valuation	As of December 31, 2015 In-place lease valuation (below market) $ (37,120,561 ) In-place lease valuation (below market) - accumulated amortization 1,858,029 In-place lease valuation (below market), net $ (35,262,532 ) Tenant origination and absorption cost 110,652,188 Tenant origination and absorption cost - accumulated amortization $ (7,145,094 ) Tenant origination and absorption cost, net $ 103,507,094
Schedule of amortization expense	The amortization of the intangible assets and other leasing costs for the year ended December 31, 2015 is as follows: Amortization (income) expense for the year ended December 31, 2015 In-place lease valuation $ (1,858,029 ) Tenant origination and absorption cost $ 7,145,094
Schedule of amortization (income) expense, future amortization	The following table sets forth the estimated annual amortization (income) expense for in-place lease valuation, and tenant origination and absorption costs as of December 31, 2015 for the next five years : Year In-Place Lease Valuation Tenant Origination and Absorption Costs 2016 $ (3,039,971 ) $ 12,667,118 2017 $ (3,039,971 ) $ 12,667,118 2018 $ (3,039,971 ) $ 12,667,118 2019 $ (3,039,971 ) $ 12,667,118 2020 $ (3,039,971 ) $ 12,667,118
Below market lease, future amortization	The following table sets forth the estimated annual amortization (income) expense for in-place lease valuation, and tenant origination and absorption costs as of December 31, 2015 for the next five years : Year In-Place Lease Valuation Tenant Origination and Absorption Costs 2016 $ (3,039,971 ) $ 12,667,118 2017 $ (3,039,971 ) $ 12,667,118 2018 $ (3,039,971 ) $ 12,667,118 2019 $ (3,039,971 ) $ 12,667,118 2020 $ (3,039,971 ) $ 12,667,118

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt	As of December 31, 2015 , the Company’s debt consisted of the following: Balance as of December 31, 2015 Contractual Interest Rate (1) Payment Type Loan Maturity Revolving Credit Facility $ 138,557,720 2.50% Interest Only December 2019 (2) AIG Loan 126,970,000 4.15% Interest Only (3) November 2025 Total $ 265,527,720 (1) The weighted-average interest rate as of December 31, 2015 was approximately 2.53% for the Company's variable-rate debt. The 2.50% contractual interest rate is based on a 360 -day year, pursuant to the Revolving Credit Facility, whereas the 2.53% weighted-average interest rate is based on a 365 -day year. As discussed below, the interest rate on the Revolving Credit Facility is a one-month LIBO Rate + 2.25% . As of December 31, 2015, the LIBO Rate was 0.25% (effective December 31, 2015). The weighted average interest rate as of December 31, 2015 was approximately 3.31% for the Company's fixed-rate and variable-rate debt combined and 4.15% for the Company's fixed-rate debt only. (2) The Revolving Credit Facility has an initial term of four years, maturing on December 12, 2018, and may be extended for a one -year period if certain conditions are met and upon payment of an extension fee. See discussion below. (3) The AIG Loan requires monthly payments of interest only, at a fixed rate, for the first five years and fixed monthly payments of principal and interest thereafter.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Share redemption price	The redemption amount is expected to be the redemption rate set forth in the following table which is based upon the number of years the stock is held: Number Years Held Redemption Price Less than 1 No Redemption Allowed 1 or more but less than 2 90.0% of the price paid to acquire the shares from us 2 or more but less than 3 95.0% of the price paid to acquire the shares from us 3 or more but less than 4 97.5% of the price paid to acquire the shares from us 4 or more 100.0% of the price paid to acquire the shares from us

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2015
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	The following summarizes the activity for noncontrolling interests for the year ended December 31, 2015 , and for the period from February 11, 2014 (Date of Initial Capitalization) through December 31, 2014: For the period from February 11, 2014 (Date of Initial Capitalization) For the year ended through December 31, 2015 December 31, 2014 Beginning balance $ 139,041 $ 200,000 Distributions to noncontrolling interests (11,000 ) (2,983 ) Net loss (30,852 ) (57,976 ) Ending balance $ 97,189 $ 139,041

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the related party costs and fees incurred, paid and due to affiliates as of December 31, 2015 : As of December 31, 2014 Year Ended December 31, 2015 Payable Incurred Paid Payable Advisor and Property Manager fees Acquisition fees and expenses $ — $ 11,438,072 (3) $ 11,429,397 $ 8,675 Operating expenses — 1,911,387 1,802,849 108,538 Asset management fees — 2,623,770 2,223,650 400,120 Property management fees — 333,016 238,488 94,528 Organization and offering expenses — Organizational expenses 78,641 393,816 470,074 2,383 Offering expenses 306,514 2,755,834 2,603,132 459,216 Other costs advanced by the Advisor 448,213 2,598,100 3,023,284 23,029 Preferred offering costs — 375,000 375,000 — Sales commissions Class A shares 22,966 15,217,341 15,240,307 — Class T shares — 1,085,862 1,045,441 40,421 Dealer Manager fees Class A shares 9,842 6,920,777 6,930,619 — Class T shares — 382,314 367,438 14,876 Stockholder servicing fee — 24,968 — 24,968 Contingent Advisor Payment Holdback: (1) Organization and offering expenses (1) — 382,314 — 382,314 Dealer Manager fees (2) — 764,628 — 764,628 Total $ 866,176 $ 47,207,199 $ 45,749,679 $ 2,323,696 (1) Pursuant to the Advisory Agreement, as amended, commencing November 2, 2015, the Company remains obligated to reimburse the Advisor for organizational and offering costs incurred after such date, but only to the extent that such costs exceed 1.0% of the gross offering proceeds of the Company’s Offering. In addition, the Advisor is entitled to receive an acquisition fee in an amount up to 3.85% of the contract purchase price (as such term is defined in the Advisory Agreement) for each property the Company acquires. The acquisition fee consists of a 2.0% base acquisition fee and up to an additional 1.85% contingent advisor payment (the "Contingent Advisor Payment"); provided, however, that the first $5.0 million of amounts advanced by the Advisor for dealer manager fees and organizational and offering expenses (the "Contingent Advisor Payment Holdback") will be retained by the Company until the later of (a) the termination of the Offering, including any follow-on offerings, or (b) July 31, 2017, at which time such amount shall be paid to the Advisor. In connection with a follow-on offering, the Contingent Advisor Payment Holdback may increase, based upon the maximum offering amount in such follow-on offering and the amount sold in prior offerings. (2) Commencing November 2, 2015, the Dealer Manager Agreement provides that the Dealer Manager is entitled to receive a sales commission up to 3.0% of gross proceeds from Class T shares sold in the Primary Offering and a dealer manager fee equal to 3.0% of gross proceeds from Class T shares sold in the Primary Offering. Pursuant to the Dealer Manager Agreement, of the 3.0% dealer manager fee, 1.0% will be funded by the Company and 2.0% will be funded by the Advisor. (3) Aetna was acquired in a sale-leaseback transaction and accounted for as an asset acquisition. Total acquisition costs in the amount of $0.6 million have been allocated to the property.

Selected Quarterly Financial 26

Selected Quarterly Financial Data (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for the year ended December 31, 2015 : 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 30,179 $ 3,570,455 $ 9,682,928 $ 11,865,461 Net loss $ (1,026,391 ) $ (9,797,905 ) $ (2,638,219 ) $ (3,043,138 ) Net loss attributable to common stockholders $ (1,019,804 ) $ (9,801,118 ) $ (3,259,242 ) $ (3,167,440 ) Net loss per share $ (0.33 ) $ (0.90 ) $ (0.19 ) $ (0.13 ) 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ — $ — $ — $ — Net loss $ — $ — $ (175,918 ) $ (318,674 ) Net loss attributable to common stockholders $ — $ — $ (89,366 ) $ (306,640 ) Net loss per share $ — $ — $ (4.32 ) $ (0.60 )

Organization - Narrative (Detai

Organization - Narrative (Details) - USD ($)	Nov. 02, 2015	Dec. 31, 2015	Oct. 30, 2015	Dec. 31, 2014	Dec. 05, 2014	Sep. 23, 2014	Jul. 31, 2014	Feb. 11, 2014	Nov. 20, 2013
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares authorized (in shares)		700,000,000		700,000,000			700,000,000		30,000
Common stock, number of shares outstanding (in shares)								100
Common stock value purchased by Advisor								$ 1,000
Common stock, par value (in USD per share)		$ 0.001		$ 0.001			$ 0.001
Preferred Stock, number of shares authorized (in shares)		200,000,000		200,000,000			200,000,000
Preferred Stock, par value (in USD per share)		$ 0.001		$ 0.001			$ 0.001
Offering amount in sales of shares							$ 2,200,000,000
Common stock issued		$ 28,556		$ 11,335		$ 2,000,000
Limited liability partnership percentage of interest held								99.00%
Limited partnership, purchase price								$ 200,000
Initial capital contribution								$ 1,000
General partner percentage interest obtained								1.00%
Minimum
Subsidiary, Sale of Stock [Line Items]
Offering amount in sales of shares						$ 2,000,000
Class A
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares outstanding (in shares)		24,724,366		1,133,773
Common stock, shares issued to date excluding DRP and stock distributions (in shares)		24,202,509
Gross proceeds received to date of shares issued		$ 240,800,000	$ 240,800,000
Class T
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares outstanding (in shares)		3,831,804		0
Common stock, shares issued to date excluding DRP and stock distributions (in shares)		3,823,139			0
Gross proceeds received to date of shares issued		$ 38,200,000
Share price offered through the DRP (in usd per share)	$ 9.50
IPO
Subsidiary, Sale of Stock [Line Items]
Offering amount in sales of shares							2,000,000,000
IPO | Class T
Subsidiary, Sale of Stock [Line Items]
Common stock offer price per share (in usd per share)	$ 10
IPO | Class T | Maximum
Subsidiary, Sale of Stock [Line Items]
Offering amount in sales of shares	$ 1,800,000,000
Distribution Reinvestment Plan
Subsidiary, Sale of Stock [Line Items]
Common stock of the Company pursuant to the distribution reinvestment plan (in shares)							$ 200,000,000
Common stock, number of shares issued (in shares)		482,971		5,333
Distribution Reinvestment Plan | Class A
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares issued (in shares)			475,520
Distribution Reinvestment Plan | Class T
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares issued (in shares)		7,451
Share Distribution | Class A
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares issued (in shares)			46,336
Share Distribution | Class T
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares issued (in shares)		1,215

Basis of Presentation and Sum28

Basis of Presentation and Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2015
Building
Property, Plant and Equipment [Line Items]
Estimated life of assets	40 years
Building Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated life of assets	5 years
Building Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated life of assets	20 years
Land Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated life of assets	15 years
Land Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated life of assets	25 years

Basis of Presentation and Sum29

Basis of Presentation and Summary of Significant Accounting Policies - Organizational Costs (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Cumulative offering costs	$ 28,668,982	$ 2,063,907
Cumulative organizational costs	517,841	311,864
Organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback	3,534,806	1,527,392
Less payments	(3,073,206)	0
Adjustment to organizational and offering costs pursuant to limitations to which the Advisor is subject	0	(1,142,237)
Net of payments of organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback	461,600	385,155
Due to affiliates	2,323,696	866,176
Organization and offering expenses
Related Party Transaction [Line Items]
Due to affiliates	382,314	0
Dealer Manager fees
Related Party Transaction [Line Items]
Due to affiliates	764,628	0
Net Organizational and offering costs advanced by the Advisor
Related Party Transaction [Line Items]
Due to affiliates	$ 1,608,542	$ 385,155

Basis of Presentation and Sum30

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details)	Jan. 21, 2016USD ($)story	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)	Dec. 31, 2014USD ($)shares	Dec. 31, 2015USD ($)segmentshares	Nov. 04, 2015USD ($)subsidiarystorycontract	Nov. 02, 2015
Accounting Policies [Abstract]
Cash equivalents		$ 0	$ 0	$ 0	$ 0	$ 0
Amount insured by FDIC		$ 250,000	$ 250,000			$ 250,000
Percentage of ownership interests acquired in acquisitions in which noncontrolling interest is recognized - less than		100.00%	100.00%			100.00%
Depreciation of building					0	$ 4,915,541
Amortization of intangibles					0	7,145,094
Asset impairment charge						0
Number of wholly owned subsidiaries | subsidiary							4
Real Estate Properties [Line Items]
Number of real estate contracts (in contracts) | contract							4
Real estate acquisition deposits		$ 8,950,000	$ 8,950,000	2,000,000	2,000,000	$ 8,950,000
Escrow deposit subject to forfeiture							$ 9,000,000
Number of reportable segments | segment						1
Organizational and offering costs advanced by and due to the Advisor								1.00%
Deferred finance costs		3,573,746	3,573,746	$ 1,902,082	$ 1,902,082	$ 3,573,746
Deferred revenue recognized						1,500,000
Deferred rent		1,500,000	1,500,000			1,500,000
Liability for rent that was over-collected		$ 300,000	$ 300,000			$ 300,000
Percent of costs that are not reimbursed by the offering		1.00%
Percent of gross proceeds reimbursed from organizational and offering costs limit (percent)		3.50%
Percent of organizational and offering costs limit (percent)		15.00%
Days required for reimbursement of excess amounts		60 days
Organizational costs as a percentage of gross offering proceeds, excluding sales commissions and dealer fees						1.40%
Offering costs as a percentage of gross offering proceeds, excluding sales commissions and dealer fees				13.90%
Organizational costs as a percentage of gross offering proceeds						10.50%
Offering costs as a percentage of gross offering proceeds				21.60%
Weighted average diluted shares (in shares) | shares					0	0
Dividends paid (in USD per share) | $ / shares			$ 0.00150684932
Toshiba Tec Property
Real Estate Properties [Line Items]
Number of stories (in story) | story							4
Real estate contract price							$ 35,900,000
Real estate acquisition deposits							1,900,000
WABCO Property
Real Estate Properties [Line Items]
Real estate contract price							13,800,000
Real estate acquisition deposits							100,000
3M Property
Real Estate Properties [Line Items]
Real estate contract price							66,400,000
Real estate acquisition deposits							2,500,000
Amazon Property
Real Estate Properties [Line Items]
Real estate contract price							88,900,000
Real estate acquisition deposits							$ 4,500,000
Subsequent Event | Toshiba Tec Property
Real Estate Properties [Line Items]
Number of stories (in story) | story	4
Payments to acquire real estate	$ 35,800,000
Maximum
Real Estate Properties [Line Items]
Percent of gross proceeds reimbursed from organizational and offering costs limit (percent)						3.50%
Percent of organizational and offering costs limit (percent)						15.00%

Real Estate - Narrative (Detail

Real Estate - Narrative (Details)	12 Months Ended
	Dec. 31, 2015USD ($)ft²propertystatebuilding	Dec. 31, 2014USD ($)
Real Estate [Abstract]
Number of properties (property) | property	15
Number of buildings (building) | building	19
Number of states (state) | state	11
Aggregate purchase price of acquired properties	$ 479,211,200
Area of real estate property (sq ft) | ft²	3,246,400
Amortization period for intangible assets	8 years 10 months 24 days
Finite-lived intangible assets		$ 0

Real Estate - Real Estate Portf

Real Estate - Real Estate Portfolio (Details)	Jun. 24, 2015USD ($)	Dec. 31, 2015USD ($)ft²building
Real Estate Properties [Line Items]
Purchase Price		$ 479,211,200
Square Feet | ft²		3,246,400
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 11,438,072
Revolving Credit Facility		286,050,000
Preferred Equity	$ 150,000,000	$ 73,260,000
Percentage of acquisition fees		2.00%
Percentage of acquisition fees for expense reimbursement		1.00%
Acquisition expense capitalized		$ 600,000
Base rent		$ 17,900,000
Number of buildings (building) | building		19
Owens Corning
Real Estate Properties [Line Items]
Purchase Price		$ 5,500,000
Square Feet | ft²		61,200
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 246,676
Revolving Credit Facility		0
Preferred Equity		0
Westgate II
Real Estate Properties [Line Items]
Purchase Price		$ 57,000,000
Square Feet | ft²		186,300
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 1,479,601
Revolving Credit Facility		30,000,000
Preferred Equity		0
Administrative Office of Pennsylvania Courts
Real Estate Properties [Line Items]
Purchase Price		$ 10,115,000
Square Feet | ft²		56,600
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 346,216
Revolving Credit Facility		6,100,000
Preferred Equity		0
American Express Center
Real Estate Properties [Line Items]
Purchase Price		$ 91,500,000
Square Feet | ft²		513,400
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 1,986,135
Revolving Credit Facility		45,700,000
Preferred Equity		$ 0
Number of buildings (building) | building		2
MGM Corporate Center
Real Estate Properties [Line Items]
Purchase Price		$ 30,300,000
Square Feet | ft²		168,300
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 723,939
Revolving Credit Facility		25,000,000
Preferred Equity		$ 0
Number of buildings (building) | building		3
American Showa
Real Estate Properties [Line Items]
Purchase Price		$ 17,200,000
Square Feet | ft²		304,600
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 405,200
Revolving Credit Facility		10,300,000
Preferred Equity		0
Huntington Ingalls
Real Estate Properties [Line Items]
Purchase Price		$ 34,300,000
Square Feet | ft²		515,500
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 796,459
Revolving Credit Facility		20,500,000
Preferred Equity		$ 0
Number of buildings (building) | building		2
Wyndham
Real Estate Properties [Line Items]
Purchase Price		$ 81,400,000
Square Feet | ft²		203,500
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 1,697,198
Revolving Credit Facility		48,800,000
Preferred Equity		32,560,000
Exel
Real Estate Properties [Line Items]
Purchase Price		$ 15,946,200
Square Feet | ft²		312,000
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 461,663
Revolving Credit Facility		9,500,000
Preferred Equity		0
Morpho Detection
Real Estate Properties [Line Items]
Purchase Price		$ 11,500,000
Square Feet | ft²		64,200
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 342,426
Revolving Credit Facility		6,900,000
Preferred Equity		2,600,000
FedEx Freight
Real Estate Properties [Line Items]
Purchase Price		$ 28,000,000
Square Feet | ft²		160,400
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 651,197
Revolving Credit Facility		16,800,000
Preferred Equity		10,800,000
Aetna
Real Estate Properties [Line Items]
Purchase Price		$ 21,700,000
Square Feet | ft²		100,300
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 561,974
Revolving Credit Facility		21,600,000
Preferred Equity		0
Bank of America I
Real Estate Properties [Line Items]
Purchase Price		$ 28,400,000
Square Feet | ft²		206,900
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 611,592
Revolving Credit Facility		17,040,000
Preferred Equity		11,161,000
Bank of America II
Real Estate Properties [Line Items]
Purchase Price		$ 28,600,000
Square Feet | ft²		273,200
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 615,899
Revolving Credit Facility		17,160,000
Preferred Equity		11,239,000
Atlas Copco
Real Estate Properties [Line Items]
Purchase Price		$ 17,750,000
Square Feet | ft²		120,000
Acquisition Fees and Reimbursable Expenses Paid to the Advisor		$ 511,897
Revolving Credit Facility		10,650,000
Preferred Equity		$ 4,900,000

Real Estate - Purchase Price Al

Real Estate - Purchase Price Allocation (Details) - USD ($)	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Summary of purchase price allocation
Land	$ 53,229,574		$ 0
Building and Improvements	353,083,087		0
Tenant Origination and Absorption Cost	110,652,188		$ 0
In-Place Lease Valuation Above/(Below) Market	(37,120,561)
Total	479,844,288
Owens Corning
Summary of purchase price allocation
Land	575,000
Building and Improvements	4,605,876
Tenant Origination and Absorption Cost	560,750
In-Place Lease Valuation Above/(Below) Market	(241,626)
Total	5,500,000
Westgate II
Summary of purchase price allocation
Land	3,732,053
Building and Improvements	43,596,739
Tenant Origination and Absorption Cost	11,504,737
In-Place Lease Valuation Above/(Below) Market	(1,833,529)
Total	57,000,000
Administrative Office of Pennsylvania Courts
Summary of purchase price allocation
Land	1,207,000
Building and Improvements	7,201,000
Tenant Origination and Absorption Cost	1,735,000
In-Place Lease Valuation Above/(Below) Market	(28,000)
Total	10,115,000
American Express Center
Summary of purchase price allocation
Land	5,750,000
Building and Improvements	73,750,000
Tenant Origination and Absorption Cost	39,920,000
In-Place Lease Valuation Above/(Below) Market	(27,920,000)
Total	91,500,000
MGM Corporate Center
Summary of purchase price allocation
Land	4,260,342
Building and Improvements	21,660,600
Tenant Origination and Absorption Cost	7,044,058
In-Place Lease Valuation Above/(Below) Market	(2,665,000)
Total	30,300,000
American Showa
Summary of purchase price allocation
Land	1,452,649
Building and Improvements	13,473,559
Tenant Origination and Absorption Cost	2,273,792
In-Place Lease Valuation Above/(Below) Market	0
Total	17,200,000
Huntington Ingalls
Summary of purchase price allocation
Land	5,415,000
Building and Improvements	23,341,000
Tenant Origination and Absorption Cost	6,495,000
In-Place Lease Valuation Above/(Below) Market	(951,000)
Total	34,300,000
Wyndham
Summary of purchase price allocation
Land	5,695,816
Building and Improvements	60,978,739
Tenant Origination and Absorption Cost	15,552,851
In-Place Lease Valuation Above/(Below) Market	(827,406)
Total	81,400,000
Exel
Summary of purchase price allocation
Land	1,988,200
Building and Improvements	11,947,000
Tenant Origination and Absorption Cost	2,011,000
In-Place Lease Valuation Above/(Below) Market	0
Total	15,946,200
Morpho Detection
Summary of purchase price allocation
Land	2,350,000
Building and Improvements	5,833,000
Tenant Origination and Absorption Cost	3,649,000
In-Place Lease Valuation Above/(Below) Market	(332,000)
Total	11,500,000
FedEx Freight
Summary of purchase price allocation
Land	2,774,000
Building and Improvements	22,640,000
Tenant Origination and Absorption Cost	3,273,000
In-Place Lease Valuation Above/(Below) Market	(687,000)
Total	28,000,000
Aetna
Summary of purchase price allocation
Land	1,852,514
Building and Improvements	20,480,574
Tenant Origination and Absorption Cost	0
In-Place Lease Valuation Above/(Below) Market	0
Total	22,333,088
Acquisition costs	600,000	$ 600,000
Bank of America I
Summary of purchase price allocation
Land	5,491,000
Building and Improvements	17,463,000
Tenant Origination and Absorption Cost	6,051,000
In-Place Lease Valuation Above/(Below) Market	(605,000)
Total	28,400,000
Bank of America II
Summary of purchase price allocation
Land	9,206,000
Building and Improvements	13,752,000
Tenant Origination and Absorption Cost	6,452,000
In-Place Lease Valuation Above/(Below) Market	(810,000)
Total	28,600,000
Atlas Copco
Summary of purchase price allocation
Land	1,480,000
Building and Improvements	12,360,000
Tenant Origination and Absorption Cost	4,130,000
In-Place Lease Valuation Above/(Below) Market	(220,000)
Total	$ 17,750,000

Real Estate - Pro Forma Operati

Real Estate - Pro Forma Operating Information (Details) - USD ($)	11 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Schedule of pro forma financial information
Revenue	$ 46,981,515	$ 46,822,883
Net income (loss)	3,844,343	(300,173)
Net income (loss) attributable to noncontrolling interests	450,624	(1,517)
Net income attributable to common stockholders	$ 3,393,719	$ (1,071,459)
Net income to common stockholders per Class A share, basic and diluted (in dollars per share)	$ 22.53	$ (0.08)

Real Estate - Future Minimum Co

Real Estate - Future Minimum Contractual Rent Payments (Details)	Dec. 31, 2015USD ($)
Schedule of future minimum net rent payments
2,016	$ 33,363,530
2,017	33,914,671
2,018	34,434,893
2,019	35,168,781
2,020	35,853,836
Thereafter	149,114,856
Total	$ 321,850,567

Real Estate - In-Place Lease Va

Real Estate - In-Place Lease Valuation and Tenant Origination and Absorption Costs (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Below Market Lease, Net [Abstract]
In-place lease valuation (below market)	$ (37,120,561)
In-place lease valuation (below market) - accumulated amortization	1,858,029
In-place lease valuation (below market), net	(35,262,532)
Finite-Lived Intangible Assets, Net [Abstract]
Tenant origination and absorption cost, net		$ 0
Tenant Origination and Absorption Cost
Finite-Lived Intangible Assets, Net [Abstract]
Tenant origination and absorption cost	110,652,188
Tenant origination and absorption cost - accumulated amortization	(7,145,094)
Tenant origination and absorption cost, net	$ 103,507,094

- Amortization of Intangible As

- Amortization of Intangible Assets and Other Leasing Costs (Details) - USD ($)	11 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Schedule of amortization expense
Amortization of below market lease	$ 0	$ (1,858,029)
Tenant origination and absorption cost		$ 7,145,094

Real Estate - Estimated Annual

Real Estate - Estimated Annual Amortization (Income) Expense for In-Place Lease (Details)	Dec. 31, 2015USD ($)
Below Market Lease, Amortization Income, Maturity Schedule [Abstract]
2,016	$ (3,039,971)
2,017	(3,039,971)
2,018	(3,039,971)
2,019	(3,039,971)
2,020	(3,039,971)
Tenant Origination and Absorption Cost
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,016	12,667,118
2,017	12,667,118
2,018	12,667,118
2,019	12,667,118
2,020	$ 12,667,118

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Oct. 22, 2015	Dec. 12, 2014	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt			$ 265,527,720	$ 0
Weighted average interest rate			3.30%
Term to determine contractual rate			360 days
Term to determine weighted average interest rate			365 days
Term of loan		4 years
Revolving credit facility, extension term		1 year
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Base rate			0.25%
Line of Credit | Key Bank Credit Facility
Debt Instrument [Line Items]
Long-term debt			$ 138,557,720
Interest rate			2.50%
Weighted average interest rate			2.53%
Term of loan			4 years
Revolving credit facility, extension term			1 year
Line of Credit | Key Bank Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			2.25%
Notes Payable, Other Payables | AIG Loan
Debt Instrument [Line Items]
Long-term debt	$ 127,000,000		$ 126,970,000
Interest rate	4.15%		4.15%
Weighted average interest rate			4.15%
Term of loan	10 years
Duration monthly payments of interest only	5 years		5 years

Debt - Narrative (Details)

Debt - Narrative (Details)	Oct. 22, 2015USD ($)entity	Dec. 12, 2014USD ($)contract	Dec. 31, 2015USD ($)	Aug. 11, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Term of loan		4 years
Revolving credit facility, extension term		1 year
Number of derivative agreements (contracts) | contract		2
Notional amount		$ 150,000,000
Number of wholly owned SPE | entity	6
Long-term debt			$ 265,527,720		$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity		250,000,000		$ 410,000,000
AIG Loan | Notes Payable, Other Payables
Debt Instrument [Line Items]
Term of loan	10 years
Long-term debt	$ 127,000,000		$ 126,970,000
Interest rate	4.15%		4.15%
Duration monthly payments of interest only	5 years		5 years
Key Bank Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity		250,000,000
Revolving credit facility, maximum borrowing capacity		$ 1,250,000,000
Collateral (percent)		100.00%
Key Bank Credit Facility | Revolving Credit Facility | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		0.50%
Interest Rate Cap
Debt Instrument [Line Items]
Payments for derivatives		$ 16,500

Equity - Narrative (Details)

Equity - Narrative (Details)	Dec. 16, 2015$ / shares	Oct. 21, 2015USD ($)shares	Sep. 16, 2015$ / shares	Jun. 24, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	Dec. 31, 2015USD ($)voteshares	Nov. 02, 2015USD ($)	Oct. 30, 2015USD ($)shares	Dec. 05, 2014shares	Jul. 31, 2014USD ($)
Class of Stock [Line Items]
Preferred Equity				$ 150,000,000		$ 73,260,000
Preferred shares authorized (in shares) | shares				15,000,000
Maximum value of shares outstanding				$ 50,000,000
Redemption of preferred units					$ 0	73,260,000
Preferred units redemption premium					$ 0	$ 375,000
Preferred Stock, number of shares outstanding (in shares) | shares					0	0
Offering amount in sales of shares										$ 2,200,000,000
Dividends declared (usd per share) | $ / shares	$ 0.00150273224		$ 0.000013699
Summary of Redemption Price Per Share [Abstract]
Redemption price per share within 1 year, percent						0.00%
Redemption price per share year 1, percent						90.00%
Redemption price per share year 2, percent						95.00%
Redemption price per share year 3, percent						97.50%
Redemption price per share year 4 and greater, percent						100.00%
Value of shares tendered for redemption						$ 20,000
Common Stock
Class of Stock [Line Items]
Adjustment to par value - common stock						152,530
Additional Paid-In Capital
Class of Stock [Line Items]
Adjustment to par value - common stock						$ (152,530)
IPO
Class of Stock [Line Items]
Offering amount in sales of shares										$ 2,000,000,000
Distribution Reinvestment Plan
Class of Stock [Line Items]
Common stock, number of shares issued (in shares) | shares					5,333	482,971
Number of days to terminate plan						10 days
Preferred units subject to redemption
Class of Stock [Line Items]
Shares redeemed during period (in shares) | shares		7,326,000
Redemption of preferred units		$ 73,300,000
Class A
Class of Stock [Line Items]
Number of votes (in votes) | vote						1
Gross proceeds received to date of shares issued						$ 240,800,000		$ 240,800,000
Common stock, shares issued to date excluding DRP and stock distributions (in shares) | shares						24,202,509
Class A | Distribution Reinvestment Plan
Class of Stock [Line Items]
Common stock, number of shares issued (in shares) | shares								475,520
Class A | Share Distribution
Class of Stock [Line Items]
Common stock, number of shares issued (in shares) | shares								46,336
Class T
Class of Stock [Line Items]
Number of votes (in votes) | vote						1
Gross proceeds received to date of shares issued						$ 38,200,000
Common stock, shares issued to date excluding DRP and stock distributions (in shares) | shares						3,823,139			0
Class T | Distribution Reinvestment Plan
Class of Stock [Line Items]
Common stock, number of shares issued (in shares) | shares						7,451
Class T | Share Distribution
Class of Stock [Line Items]
Common stock, number of shares issued (in shares) | shares						1,215
Class T | Maximum | IPO
Class of Stock [Line Items]
Offering amount in sales of shares							$ 1,800,000,000
Common Stock Subject to Mandatory Redemption
Summary of Redemption Price Per Share [Abstract]
Temporary equity						$ 4,566,044
Share Redemption Program
Class of Stock [Line Items]
Minimum holding period for redemption of stock						1 year
Maximum redemption percentage of weighted average shares outstanding						5.00%

Noncontrolling Interests - Narr

Noncontrolling Interests - Narrative (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Feb. 11, 2014
Noncontrolling Interest [Line Items]
Percentage of ownership interests acquired in acquisitions in which noncontrolling interest is recognized - less than	100.00%
Operating Partnership
Noncontrolling Interest [Line Items]
Percentage of ownership interests acquired in acquisitions in which noncontrolling interest is recognized - less than	0.10%
Percentage of noncontrolling interests based on weighted average shares	0.10%
Operating Partnership | Limited Partner
Noncontrolling Interest [Line Items]
Limited partnership units issued (in shares)		20,000
Price per partnership unit (in USD per share)		$ 10
Partnership unit exchange (in shares)	1
Period of unit outstanding	1 year

Noncontrolling Interests - Sche

Noncontrolling Interests - Schedule of Noncontrolling Interests (Details) - USD ($)	3 Months Ended								11 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance				$ 139,041					$ 200,000	$ 139,041
Distributions for noncontrolling interest									(2,983)	(11,000)
Net loss	$ (3,043,138)	$ (2,638,219)	$ (9,797,905)	$ (1,026,391)	$ (318,674)	$ (175,918)	$ 0	$ 0	(494,592)	(16,505,653)
Ending balance	$ 97,189				$ 139,041				139,041	97,189
Non- controlling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Distributions for noncontrolling interest									(2,983)	$ (11,000)
Net loss									$ (57,976)

Related Party Transactions - Sc

Related Party Transactions - Schedule of Transactions (Details) - USD ($)	2 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Nov. 02, 2015	Sep. 30, 2015
Due to Related Parties [Roll Forward]
Beginning of Period		$ 866,176
Incurred		47,207,199
Paid		45,749,679
End of Period	$ 2,323,696	2,323,696
Percent of costs that are not reimbursed by the offering	1.00%
Advisor acquisition fee for property	3.85%
Advisory fee, base rate	2.00%
Advisory fee, contingent percentage	1.85%
Amount retained subject to conditions			$ 5,000,000
Acquisition fees and expenses
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		11,438,072
Paid		11,429,397
End of Period	$ 8,675	8,675
Operating expenses
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		1,911,387
Paid		1,802,849
End of Period	108,538	108,538
Asset management fees
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		2,623,770
Paid		2,223,650
End of Period	400,120	400,120
Property management fees
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		333,016
Paid		238,488
End of Period	94,528	94,528
Organizational expenses
Due to Related Parties [Roll Forward]
Beginning of Period		78,641
Incurred		393,816
Paid		470,074
End of Period	2,383	2,383
Offering expenses
Due to Related Parties [Roll Forward]
Beginning of Period		306,514
Incurred		2,755,834
Paid		2,603,132
End of Period	459,216	459,216
Other costs advanced by the Advisor
Due to Related Parties [Roll Forward]
Beginning of Period		448,213
Incurred		2,598,100
Paid		3,023,284
End of Period	23,029	23,029
Preferred offering costs
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		375,000
Paid		375,000
End of Period	0	0
Stockholder servicing fee payable
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		24,968
Paid		0
End of Period	24,968	24,968
Organization and offering expenses
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		382,314
Paid		0
End of Period	382,314	382,314
Dealer Manager fees
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		764,628
Paid		0
End of Period	764,628	764,628
Class A | Sales commissions
Due to Related Parties [Roll Forward]
Beginning of Period		22,966
Incurred		15,217,341
Paid		15,240,307
End of Period	0	0
Class A | Dealer Manager fees
Due to Related Parties [Roll Forward]
Beginning of Period		9,842
Incurred		6,920,777
Paid		6,930,619
End of Period	$ 0	0
Class T
Due to Related Parties [Roll Forward]
Sales commission on stock offering	3.00%
Dealer manager fee percentage on stock offering	3.00%
Percent of dealer manager fees funded by company	1.00%
Percent of dealer manager fees funded by advisor	2.00%
Class T | Sales commissions
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		1,085,862
Paid		1,045,441
End of Period	$ 40,421	40,421
Class T | Dealer Manager fees
Due to Related Parties [Roll Forward]
Beginning of Period		0
Incurred		382,314
Paid		367,438
End of Period	14,876	14,876
Aetna
Due to Related Parties [Roll Forward]
Acquisition costs	$ 600,000	$ 600,000		$ 600,000

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)	Nov. 02, 2015USD ($)	Dec. 31, 2015USD ($)shares	Oct. 30, 2015	Dec. 31, 2015USD ($)programshares
Related Party Transaction [Line Items]
Percent of organizational and offering costs limit (percent)		15.00%
Percent of gross proceeds reimbursed from organizational and offering costs limit (percent)		3.50%
Percent of costs that are not reimbursed by the offering		1.00%
Advisor acquisition fee for property		3.85%
Advisory fee, base rate		2.00%
Advisory fee, contingent percentage		1.85%
Amount retained subject to conditions	$ 5,000,000
Organizational and offering costs advanced by and due to the Advisor	1.00%
Stock serving fee				$ 20,000
Period of recognition for shareholder servicing fee				4 years
Expected shareholder servicing fee		$ 1,500,000		$ 1,500,000
Asset management fee percentage of average invested assets				6.00%
Asset management fees				$ 2,600,000
Gross revenue percentage				1.00%
Property management fees percentage				3.00%
Construction management fee percentage				5.00%
Distribution rate				15.00%
Percent added to company's return on capital		6.00%		6.00%
Term for share based compensation plan				10 years
Percentage of common stock reserved for issuance				10.00%
Number of shares authorized (in shares) | shares		10,000,000		10,000,000
Shares reserve for issuance (in shares) | shares		2,855,617		2,855,617
Number of real estate programs (program) | program				11
Investment terms, minimum loan to value ratio				40.00%
Investment opportunity amount, greater than		$ 35,000,000		$ 35,000,000
Investment opportunity aggregate assets required, greater than		$ 500,000,000		$ 500,000,000
Dealer Manager Agreement
Related Party Transaction [Line Items]
Dealer manager fee percentage			3.00%	3.00%
Advisory Agreement
Related Party Transaction [Line Items]
Asset management fee percentage of average invested assets				1.00%
Distribution rate				15.00%
Class A | Dealer Manager Agreement
Related Party Transaction [Line Items]
Sales commissions percentage			7.00%
Class T
Related Party Transaction [Line Items]
Sales commission on stock offering		3.00%
Dealer manager fee percentage on stock offering		3.00%
Percent of dealer manager fees funded by company		1.00%
Percent of dealer manager fees funded by advisor		2.00%
Underwriting compensation, percent of gross proceeds	10.00%
Class T | Dealer Manager Agreement
Related Party Transaction [Line Items]
Daily accrual rate for Class T shares sold				0.00274%
Maximum
Related Party Transaction [Line Items]
Percent of organizational and offering costs limit (percent)				15.00%
Percent of gross proceeds reimbursed from organizational and offering costs limit (percent)				3.50%
Subsidiary of Common Parent
Related Party Transaction [Line Items]
Investment opportunity amount, greater than		$ 75,000,000		$ 75,000,000

Declaration of Distributions (D

Declaration of Distributions (Details) - $ / shares	Dec. 16, 2015	Sep. 16, 2015	Dec. 31, 2015
Declaration of Distributions [Abstract]
Dividends paid (in USD per share)			$ 0.00150684932
Dividends declared (usd per share)	$ 0.00150273224	$ 0.000013699
Stock dividend (in shares)			0.000013699
Stock dividend declared (in shares)	0.0000136612

Selected Quarterly Financial 47

Selected Quarterly Financial Data (unaudited) (Details) - USD ($)	3 Months Ended								11 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 11,865,461	$ 9,682,928	$ 3,570,455	$ 30,179	$ 0	$ 0	$ 0	$ 0	$ 0	$ 25,149,023
Net loss	(3,043,138)	(2,638,219)	(9,797,905)	(1,026,391)	(318,674)	(175,918)	0	0	(494,592)	(16,505,653)
Net loss attributable to common stockholders	$ (3,167,440)	$ (3,259,242)	$ (9,801,118)	$ (1,019,804)	$ (306,640)	$ (89,366)	$ 0	$ 0	$ (436,616)	$ (17,247,604)
Net loss per share, basic and diluted (in USD per share)	$ (0.13)	$ (0.19)	$ (0.90)	$ (0.33)	$ (0.60)	$ (4.32)	$ 0	$ 0	$ (2.90)	$ (1.22)

Subsequent Events (Details)

Subsequent Events (Details)	Mar. 04, 2016USD ($)shares	Mar. 02, 2016$ / sharesshares	Feb. 09, 2016USD ($)	Jan. 21, 2016USD ($)ft²story	Dec. 16, 2015$ / sharesshares	Sep. 16, 2015$ / shares	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Nov. 04, 2015story
Subsequent Event [Line Items]
Issuance of shares for distribution reinvestment plan							$ 50,666	$ 4,515,378
Dividends declared (usd per share) | $ / shares					$ 0.00150273224	$ 0.000013699
Stock dividend declared (in shares) | shares					0.0000136612
Proceeds from borrowings - Credit Facility							$ 0	$ 286,050,000
Subsequent Event
Subsequent Event [Line Items]
Dividends declared (usd per share) | $ / shares		$ 0.00150273224
Stock dividend declared (in shares) | shares		0.000013661
Payments for dealer, organization and offering fees			$ 5,000,000
Class A | Subsequent Event
Subsequent Event [Line Items]
Received and accepted subscription in Offering (in shares) | shares	24,199,759
Value of received and accepted subscriptions	$ 240,781,691
Issuance of shares for distribution reinvestment plan	$ 5,775,711
Issuance of shares for distribution reinvestment plan (shares) | shares	607,970
Class T | Subsequent Event
Subsequent Event [Line Items]
Received and accepted subscription in Offering (in shares) | shares	10,030,391
Value of received and accepted subscriptions	$ 100,163,658
Issuance of shares for distribution reinvestment plan	$ 380,211
Issuance of shares for distribution reinvestment plan (shares) | shares	40,022
Toshiba Tec Property
Subsequent Event [Line Items]
Number of stories (in story) | story									4
Toshiba Tec Property | Subsequent Event
Subsequent Event [Line Items]
Number of stories (in story) | story				4
Rentable square feet | ft²				200,850
Payments to acquire real estate				$ 35,800,000
Key Bank Credit Facility | Line of Credit | Toshiba Tec Property | Subsequent Event
Subsequent Event [Line Items]
Proceeds from borrowings - Credit Facility				$ 17,900,000

Schedule III - Real Estate an49

Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Encumbrances	$ 126,970,000
Land	53,229,574
Building and Improvements	463,735,275
SEC Schedule III, Real Estate, Gross [Abstract]
Land	53,229,574
Building and Improvements	463,735,275
Total	516,964,849	$ 0
Accumulated Depreciation	12,060,635	$ 0
Cost capitalized subsequent to acquisition	0
Owens Corning
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Encumbrances	3,300,000
Land	575,000
Building and Improvements	5,166,626
SEC Schedule III, Real Estate, Gross [Abstract]
Land	575,000
Building and Improvements	5,166,626
Total	5,741,626
Accumulated Depreciation	140,519
Westgate II
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Encumbrances	34,200,000
Land	3,732,053
Building and Improvements	55,101,476
SEC Schedule III, Real Estate, Gross [Abstract]
Land	3,732,053
Building and Improvements	55,101,476
Total	58,833,529
Accumulated Depreciation	1,773,562
Administrative Office of Pennsylvania Courts
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Encumbrances	6,070,000
Land	1,207,000
Building and Improvements	8,936,000
SEC Schedule III, Real Estate, Gross [Abstract]
Land	1,207,000
Building and Improvements	8,936,000
Total	10,143,000
Accumulated Depreciation	256,311
American Express Center
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Encumbrances	54,900,000
Land	5,750,000
Building and Improvements	113,670,000
SEC Schedule III, Real Estate, Gross [Abstract]
Land	5,750,000
Building and Improvements	113,670,000
Total	119,420,000
Accumulated Depreciation	4,308,338
MGM Corporate Center
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Encumbrances	18,180,000
Land	4,260,342
Building and Improvements	28,704,658
SEC Schedule III, Real Estate, Gross [Abstract]
Land	4,260,342
Building and Improvements	28,704,658
Total	32,965,000
Accumulated Depreciation	780,283
American Showa
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Encumbrances	10,320,000
Land	1,452,649
Building and Improvements	15,747,351
SEC Schedule III, Real Estate, Gross [Abstract]
Land	1,452,649
Building and Improvements	15,747,351
Total	17,200,000
Accumulated Depreciation	338,772
Huntington Ingalls
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	5,415,000
Building and Improvements	29,836,000
SEC Schedule III, Real Estate, Gross [Abstract]
Land	5,415,000
Building and Improvements	29,836,000
Total	35,251,000
Accumulated Depreciation	570,441
Wyndham
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	5,695,816
Building and Improvements	76,531,589
SEC Schedule III, Real Estate, Gross [Abstract]
Land	5,695,816
Building and Improvements	76,531,589
Total	82,227,405
Accumulated Depreciation	1,355,981
Exel
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	1,988,200
Building and Improvements	13,958,000
SEC Schedule III, Real Estate, Gross [Abstract]
Land	1,988,200
Building and Improvements	13,958,000
Total	15,946,200
Accumulated Depreciation	294,978
Morpho Detection
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	2,350,000
Building and Improvements	9,482,000
SEC Schedule III, Real Estate, Gross [Abstract]
Land	2,350,000
Building and Improvements	9,482,000
Total	11,832,000
Accumulated Depreciation	227,704
FedEx Freight
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	2,774,000
Building and Improvements	25,913,000
SEC Schedule III, Real Estate, Gross [Abstract]
Land	2,774,000
Building and Improvements	25,913,000
Total	28,687,000
Accumulated Depreciation	425,075
Aetna
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	1,852,514
Building and Improvements	20,480,575
SEC Schedule III, Real Estate, Gross [Abstract]
Land	1,852,514
Building and Improvements	20,480,575
Total	22,333,089
Accumulated Depreciation	218,684
Bank of America I
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	5,491,000
Building and Improvements	23,514,000
SEC Schedule III, Real Estate, Gross [Abstract]
Land	5,491,000
Building and Improvements	23,514,000
Total	29,005,000
Accumulated Depreciation	597,578
Bank of America II
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	9,206,000
Building and Improvements	20,204,000
SEC Schedule III, Real Estate, Gross [Abstract]
Land	9,206,000
Building and Improvements	20,204,000
Total	29,410,000
Accumulated Depreciation	590,529
Atlas Copco
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	1,480,000
Building and Improvements	16,490,000
SEC Schedule III, Real Estate, Gross [Abstract]
Land	1,480,000
Building and Improvements	16,490,000
Total	17,970,000
Accumulated Depreciation	$ 181,880
Minimum | Owens Corning
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Westgate II
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Administrative Office of Pennsylvania Courts
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | American Express Center
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | MGM Corporate Center
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | American Showa
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Huntington Ingalls
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Wyndham
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Exel
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Morpho Detection
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | FedEx Freight
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Aetna
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Bank of America I
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Bank of America II
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Minimum | Atlas Copco
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	5 years
Maximum | Owens Corning
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Westgate II
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Administrative Office of Pennsylvania Courts
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | American Express Center
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | MGM Corporate Center
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | American Showa
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Huntington Ingalls
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Wyndham
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Exel
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Morpho Detection
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | FedEx Freight
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Aetna
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Bank of America I
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Bank of America II
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years
Maximum | Atlas Copco
SEC Schedule III, Real Estate, Gross [Abstract]
Life used for depreciation	40 years

Schedule III - Real Estate an50

Schedule III - Real Estate and Accumulated Depreciation - Rollforward of Accumulated Depreciation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at beginning of year	$ 0
Acquisitions	516,964,849
Improvements	0
Construction-in-progress	0
Balance at end of year	516,964,849
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0
Depreciation expense	12,060,635
Balance at end of year	12,060,635
Total real estate, net	$ 504,904,214	$ 0