Peakstone Realty Trust (PKST) 10-Q 10 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
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-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		65,607,155

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 28,989,171	$ 17,609,981
Land	96,937,781	53,229,574
Building	531,529,150	353,083,087
Tenant origination and absorption cost	170,910,229	110,652,188
Total real estate	799,377,160	516,964,849
Less: accumulated depreciation and amortization	(30,970,822)	(12,060,635)
Total real estate, net	768,406,338	504,904,214
Above market leases, net	232,065	0
Real estate acquisition deposits	13,000,000	8,950,000
Deferred rent	3,960,594	1,500,086
Other assets, net	4,903,404	3,755,692
Total assets	819,491,572	536,719,973
LIABILITIES AND EQUITY
Revolving Credit Facility	99,289,205	135,940,517
AIG Loan	126,087,115	126,013,457
Total debt	225,376,320	261,953,974
Accrued expenses and other liabilities	19,894,471	7,116,194
Distributions payable	1,250,556	556,246
Due to affiliates	20,738,517	2,323,696
Below market leases, net	49,432,293	35,262,532
Total liabilities	316,692,157	307,212,642
Commitments and contingencies
Stockholders' equity:
Preferred Stock, $0.001 par value, 200,000,000 shares authorized; no shares outstanding, as of September 30, 2016 and December 31, 2015	0	0
Common Stock, $0.001 par value, 700,000,000 shares authorized; 62,226,367 and 28,556,170 Class A, Class T and Class I shares outstanding, as of September 30, 2016 and December 31, 2015, respectively.	62,225	28,556
Additional paid-in capital	542,319,897	250,757,479
Cumulative distributions	(28,408,537)	(8,257,717)
Accumulated deficit	(24,384,375)	(17,684,220)
Accumulated other comprehensive loss	(49,585)	0
Total stockholders' equity	489,539,625	224,844,098
Noncontrolling interests	86,011	97,189
Total equity	489,625,636	224,941,287
Total liabilities and equity	819,491,572	536,719,973
Common stock subject to redemption
LIABILITIES AND EQUITY
Common stock subject to redemption	$ 13,173,779	$ 4,566,044

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Preferred Stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred Stock, number of shares authorized (in shares)	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
Common stock, number of shares authorized (in shares)	700,000,000	700,000,000
Common stock, number of shares outstanding (in shares)	62,226,367	28,566,170

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue:
Rental income	$ 13,122,493	$ 8,475,850	$ 34,420,747	$ 11,673,877
Property expense recovery	3,210,929	1,207,078	7,745,296	1,609,685
Total revenue	16,333,422	9,682,928	42,166,043	13,283,562
Expenses:
Asset management fees to affiliates	1,627,034	1,054,094	4,259,379	1,423,053
Property management fees to affiliates	260,188	102,892	659,436	128,915
Property operating	1,157,528	490,542	2,710,786	532,743
Property tax	1,663,871	977,218	4,368,324	1,354,520
Acquisition fees and expenses to non-affiliates	384,406	587,499	880,391	2,865,687
Acquisition fees and expenses to affiliates	3,324,577	2,128,671	6,323,670	9,649,739
General and administrative	689,951	542,844	2,108,884	1,344,533
Corporate operating expenses to affiliates	501,170	189,113	1,492,059	478,057
Depreciation and amortization	7,299,478	4,767,334	18,910,187	6,644,657
Total expenses	16,908,203	10,840,207	41,713,116	24,421,904
Income (loss) from operations	(574,781)	(1,157,279)	452,927	(11,138,342)
Interest income	171	29	1,358	261
Interest expense	(2,162,115)	(1,480,969)	(7,157,334)	(2,324,434)
Net loss	(2,736,725)	(2,638,219)	(6,703,049)	(13,462,515)
Distributions to redeemable preferred unit holders	0	(345,009)	0	(366,202)
Preferred units redemption charge	0	(279,740)	0	(279,740)
Less: Net loss attributable to noncontrolling interests	959	3,726	2,894	28,293
Net loss attributable to common stockholders	$ (2,735,766)	$ (3,259,242)	$ (6,700,155)	$ (14,080,164)
Net loss attributable to common stockholders, basic and diluted (usd per share)	$ (0.05)	$ (0.18)	$ (0.15)	$ (1.30)
Weighted average number of common shares outstanding, basic and diluted (shares)	57,062,151	17,732,284	45,283,343	10,791,168
Dividends declared per common share (usd per share)	$ 0.14	$ 0.14	$ 0.42	$ 0.41

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,736,725)	$ (2,638,219)	$ (6,703,049)	$ (13,462,515)
Other comprehensive loss:
Change in fair value of swap agreement	281,071	0	(49,634)	0
Total comprehensive loss	(2,455,654)	(2,638,219)	(6,752,683)	(13,462,515)
Distributions to redeemable preferred unit holders	0	(345,009)	0	(366,202)
Preferred units redemption charge	0	(279,740)	0	(279,740)
Less: comprehensive loss attributable to noncontrolling interests	860	3,726	2,943	28,293
Comprehensive loss attributable to common stockholders	$ (2,454,794)	$ (3,259,242)	$ (6,749,740)	$ (14,080,164)

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($)	Total	Preferred units subject to redemption	Common Stock	Additional Paid-In Capital	Additional Paid-In CapitalPreferred units subject to redemption	Cumulative Distributions	Accumulated Deficit	Accumulated Other Comprehensive Loss	Total Stockholders’ Equity	Total Stockholders’ EquityPreferred units subject to redemption	Non- controlling Interests
Beginning balance at Dec. 31, 2014	$ 9,480,161		$ 11,335	$ 9,838,210		$ (71,809)	$ (436,616)	$ 0	$ 9,341,120		$ 139,041
Beginning balance (shares) at Dec. 31, 2014			1,133,773
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Gross proceeds from issuance of common stock	268,972,084		$ 167,766	268,804,318					268,972,084
Gross proceeds from issuance of common stock (shares)			26,897,208
Adjustment to par value - common stock			$ (152,530)	152,530
Discount on issuance of common stock	(997,020)			(997,020)					(997,020)
Offering costs including dealer manager fees to affiliates	(27,514,088)	$ (375,000)		(27,514,088)	$ (375,000)				(27,514,088)	$ (375,000)
Distributions to common stockholders	(3,172,832)					(3,172,832)			(3,172,832)
Issuance of shares for distribution reinvestment plan			$ 1,509	4,536,053		(4,537,562)
Issuance of shares for distribution reinvestment plan (shares)			477,638
Additions to common stock subject to redemption	(4,537,562)			(4,537,562)					(4,537,562)
Issuance of stock dividends			$ 476	475,038		(475,514)
Issuance of stock dividends (in shares)			47,551
Distributions to noncontrolling interest	(11,000)										(11,000)
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)
Other comprehensive loss											0
Ending balance at Dec. 31, 2015	$ 224,941,287		$ 28,556	250,757,479		(8,257,717)	(17,684,220)	0	224,844,098		97,189
Ending balance (shares) at Dec. 31, 2015	28,566,170		28,556,170
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Gross proceeds from issuance of common stock	$ 325,349,729		$ 32,575	325,317,154					325,349,729
Gross proceeds from issuance of common stock (shares)			32,574,883
Discount on issuance of common stock	(673,438)			(673,438)					(673,438)
Offering costs including dealer manager fees to affiliates	(34,758,704)			(34,758,704)					(34,758,704)
Distributions to common stockholders	(8,259,996)					(8,259,996)			(8,259,996)
Issuance of shares for distribution reinvestment plan	10,212,324		$ 1,074	10,211,250		(10,212,324)
Issuance of shares for distribution reinvestment plan (shares)			1,074,982
Repurchase of common stock	(1,436,423)		$ (148)	(1,436,275)					(1,436,423)
Repurchase of common stock (in shares)			(147,552)
Additions to common stock subject to redemption	(8,775,901)			(8,775,901)					(8,775,901)
Issuance of stock dividends			$ 168	1,678,332		(1,678,500)
Issuance of stock dividends (in shares)			167,884
Distributions to noncontrolling interest	(8,235)										(8,235)
Net loss	(6,703,049)						(6,700,155)		(6,700,155)		(2,894)
Other comprehensive loss	(49,634)							(49,585)	(49,585)		(49)
Ending balance at Sep. 30, 2016	$ 489,625,636		$ 62,225	$ 542,319,897		$ (28,408,537)	$ (24,384,375)	$ (49,585)	$ 489,539,625		$ 86,011
Ending balance (shares) at Sep. 30, 2016	62,226,367		62,226,367

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities:
Net loss	$ (6,703,049)	$ (13,462,515)
Adjustments to reconcile net loss to net cash provided by (used in) operations:
Depreciation of building	7,700,745	2,692,040
Amortization of tenant origination and absorption cost	11,209,442	3,952,617
Amortization of above and below market leases	(2,654,304)	(1,091,830)
Amortization of deferred financing costs	576,721	328,322
Deferred rent	(2,460,508)	(786,042)
Unrealized gain on interest rate swaps	(167,937)	0
Other assets, net	(955,152)	(2,433,902)
Accrued expenses and other liabilities	1,126,070	4,914,656
Due to affiliates, net	327,528	10,115,172
Net cash provided by operating activities	7,999,556	4,228,518
Investing Activities:
Acquisition of property, net	(254,336,270)	(460,474,220)
Real estate acquisition deposits	(4,050,000)	0
Net cash used in investing activities	(258,386,270)	(460,474,220)
Financing Activities:
Principal payoff of indebtedness - Credit Facility	(55,000,000)	0
Proceeds from borrowings - Credit Facility	17,900,000	275,400,000
Deferred financing costs	(54,375)	(1,198,543)
Issuance of common stock, net of discounts and offering costs	307,930,623	173,133,949
Issuance of preferred equity subject to redemption	0	68,360,000
Redemption of preferred units	0	(54,650,000)
Repurchase of common stock	(1,436,423)	0
Distributions paid to common stockholders	(7,565,653)	(1,356,985)
Distributions paid to noncontrolling interests	(8,268)	(8,258)
Distributions paid to preferred units subject to redemption	0	(21,193)
Net cash provided by financing activities	261,765,904	459,658,970
Net increase (decrease) in cash and cash equivalents	11,379,190	3,413,268
Cash and cash equivalents at the beginning of the period	17,609,981	6,171,317
Cash and cash equivalents at the end of the period	28,989,171	9,584,585
Supplemental Disclosures of Non-Cash Transactions:
Cash paid for interest	7,079,094	686,070
Decrease in fair value of swap agreement	(49,634)	0
Increase in Stock Servicing Fee Payable	14,280,836	24,968
Increase in distributions payable - common stock	694,343	343,787
Common stock issued pursuant to the distribution reinvestment plan	$ 10,212,324	$ 2,596,801

Organization

Organization	9 Months Ended
	Sep. 30, 2016
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 qualified as a real estate investment trust (“REIT”) as of December 31, 2015. 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, LLC, a Delaware limited liability company ("GAMCO") is the sole member of the Advisor and Griffin Capital, LLC, a Delaware limited liability company ("GC") is the sole member of GAMCO. The Sponsor is the sole member of GC. 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 (as defined in Note 10, Related Party Transactions .) The Company's officers are also officers of the Advisor and 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 allocated as 350,000,000 Class A shares and 350,000,000 Class T shares with a par value of $0.001 and 200,000,000 shares of preferred stock with a par value of $0.001 . On April 25, 2016, the Company reclassified (i) 100,000,000 authorized but unissued shares of the Company's Class A common stock, and (ii) 50,000,000 authorized but unissued shares of the Company's Class T common stock, as 150,000,000 shares of Class I common stock. The Company registered $2.2 billion in common shares in its initial public offering (“Offering”), consisting of $2.0 billion in common shares to be offered to the public in the primary public offering (“Primary Offering”) and $200.0 million in common shares for sale pursuant to the distribution reinvestment plan (“DRP”). (See Note 8, Equity, for additional details.) In September 2016, the Company's board of directors approved the close of the Company’s Primary Offering effective January 20, 2017. The Company intends to continue to sell shares of its common stock in the offering pursuant to its DRP following the termination of its Primary Offering. Griffin Capital Securities, LLC (the “Dealer Manager”) is a Delaware limited liability company and is a wholly-owned subsidiary of GC. The Dealer Manager is responsible for marketing the Company’s shares being offered pursuant to the Offering. 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 Operating Partnership owns, and 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 September 30, 2016 .

Summary of Significant Accounti

Summary of Significant Accounting Policies and Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Basis of Presentation	Summary of Significant Accounting Policies and Basis of Presentation There have been no significant changes to the Company’s accounting policies since the Company filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2015 (except as noted below). For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K filed with the SEC. Stockholder Servicing Fee The Company pays the Dealer Manager a stockholder servicing fee with respect to the Class T shares sold as additional compensation to the Dealer Manager, which will be reallocated to the participating broker-dealers. Participating broker-dealers are expected to provide ongoing or regular account or portfolio maintenance for the stockholder, which may include one or more of the following: assisting with recordkeeping, assisting and processing distribution payments, assisting with share repurchase requests, offering to contact the stockholder periodically to provide information about the stockholder’s investment in the Company or to answer questions about the account statement or valuations, or providing other similar services as the stockholder may reasonably require in connection with such stockholder’s investment in Class T shares . The stockholder servicing fee accrues daily equal to 1/365th of 1% of the purchase price per share of the Class T shares sold in the Company's Primary Offering up to a maximum of 4% in the aggregate and is 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. The Company records the stockholder servicing fee as a reduction to paid in capital at the time of sale of the Class T share with a corresponding liability, on an undiscounted basis. From inception through March 31, 2016, the Company recorded the stockholder servicing fee as a general and administrative expense when the fee was paid. The Company’s accounting of stockholder servicing fees of Class T shares sold to the public was determined to not be in compliance with GAAP in prior periods. The Company assessed the cumulative impact of the correction between total equity and total expenses for the year-ended December 31, 2015 and the three months ended March 31, 2016, and as a result, recorded a reduction to equity of approximately $5.6 million and a corresponding increase to Due to Affiliates (as stockholder servicing fee due to the Dealer Manager) of approximately $5.3 million and a decrease of approximately $0.2 million to Corporate Operating Expenses to Affiliates to correct the balances as of June 30, 2016. The effect of the three months ended March 31, 2016 adjustment on income from operations and net loss recorded in the three months ended June 30, 2016 period was $0.2 million and had no impact on earnings per share. 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 and the three months ended March 31, 2016, using both the roll-over method and iron-curtain methods 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 providing for the correction in 2016 did not have a material effect on its financial statements for the quarter ended June 30, 2016. Derivative Instruments and Hedging Activities Accounting Standards Codification ("ASC") Topic 815: Derivatives and Hedgin g ("ASC 815"), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. As required by ASC 815, the Company recorded all derivatives on the consolidated balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, and whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. (See Note 5, Interest Rate Contracts.) The accompanying unaudited consolidated financial statements of the Company were prepared by management on the accrual basis of accounting and in accordance with principles generally accepted in the United States (“GAAP”) for interim financial information as contained in the Financial Accounting Standards Board ("FASB") ASC, and in conjunction with rules and regulations of the SEC. Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The unaudited consolidated financial statements include accounts and related adjustments of the Company, the Operating Partnership and the TRS, if applicable, which are, in the opinion of management, of a normal recurring nature and necessary for a fair presentation of the Company’s financial position for the interim period. All significant intercompany accounts and transactions have been eliminated in consolidation. Operating results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 . Use of Estimates The preparation of the unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Change in Consolidated Financial Statements Presentation Certain amounts in the Company's prior period consolidated financial statements have been reclassified to conform to the current period presentation. Corporate operating expenses to affiliates are presented separately from general and administrative expenses on the consolidated income statement for all periods presented. 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 September 30, 2016 and December 31, 2015 , there were no common stock equivalents that would have a dilutive effect on earnings (loss) per share for common stockholders. The Company retroactively adjusted the number of common shares outstanding in accordance with ASC 260-10, Earnings per Share. ASC 260-10 requires the computations of basic and diluted earnings per share shall be adjusted retroactively for all periods presented to reflect the change in capital structure, if the number of common shares outstanding increases as a result of a stock dividend or stock split or decreases as a result of a reverse stock split. If changes in common stock resulting from stock dividends, stock splits, or reverse stock splits occur after the close of the period but before the consolidated financial statements are issued or are available to be issued, the per-share computations for those and any prior-period consolidated financial statements presented shall be based on the new number of shares. 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. Recently Issued Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments . ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing diversity in practice. The cash flow issues include debt prepayment or debt extinguishment costs and proceeds from the settlement of insurance claims. The ASU is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. The Company is currently evaluating the impact the new standard may have on our consolidated financial statements. 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 standard on the consolidated financial statements. 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. The Company adopted ASU 2015-03, beginning with the quarter ended March 31, 2016. As a result of the adoption of ASU 2015-03, the Company reclassified approximately $3.6 million of net debt issuance costs from an asset (previously recorded in the line item “Deferred financing costs, net” in the consolidated balance sheet) to a reduction in the carrying amount of the Company's debt as of December 31, 2015. ASU 2015-03 also expands disclosure requirements to include the face amount of the debt liability and the effective interest rate in the notes to the consolidated financial statements. (See Note 4, Debt.) 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 adopted ASU No. 2015-02, beginning with the quarter ended March 31, 2016. There was no change to the Company's consolidated financial statements as a result of adoption. In August 2014, the FASB issued ASU No. 2014-15, P resentation 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 the consolidated 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 impact of adopting the standard on the consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) . The amendments clarify how an entity should identify the unit of accounting (i.e., the specified good or service) for the principal versus agent evaluation, and how it should apply the control principle to certain types of arrangements, such as service transactions, by explaining what a principal controls before the specified good or service is transferred to the customer. The effective date and transition requirements for the amendments are the same as the effective date and transition requirements of ASU No. 2014-09. 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 impact of adopting the standard on the consolidated financial statements.

Real Estate

Real Estate	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Real Estate	Real Estate As of September 30, 2016 , the Company's real estate portfolio consisted of 21 properties ( 28 buildings) in 14 states consisting of office, industrial, distribution, and data center facilities with a combined acquisition value of $745.0 million including the allocation of the purchase price to above and below-market lease valuation, encompassing approximately 4.5 million square feet. Depreciation expense for buildings and improvements for the nine months ended September 30, 2016 was $ 7.7 million . Amortization expense for intangibles, including but not limited to, tenant origination and absorption costs for the nine months ended September 30, 2016 , was $ 11.2 million . Total rental income included in the Company's statement of operations from acquisitions in 2016 was approximately $5.2 million for the nine months ended September 30, 2016 . The purchase price and other acquisition items for properties acquired during the nine months ended September 30, 2016 are shown below. Paid to Advisor Property Location Tenant/Major Lessee Acquisition Date Purchase Price Approx. Square Feet Acquisition Fees and Reimbursable Expenses (1) Contingent Advisor Payment (2) Year of Lease Expiration Toshiba TEC Durham, NC Toshiba TEC Corporation 1/21/2016 $ 35,800,748 200,800 $ 870,409 $ — 2028 NETGEAR San Jose, CA NETGEAR, Inc. 5/17/2016 44,000,000 142,700 1,000,411 197,780 2025 Nike Hillsboro, OR Nike, Inc. 6/16/2016 45,500,000 266,800 1,139,376 841,750 2020 Zebra Technologies Lincolnshire, IL Hewitt Associates LLC (3) 8/1/2016 60,150,000 283,300 1,346,120 1,112,775 2017/2026 WABCO North Charleston, SC WABCO Air Compressor Holdings Inc. 9/14/2016 13,834,500 145,200 456,905 255,938 2023 IGT Las Vegas, NV IGT 9/27/2016 66,500,000 222,300 1,521,553 1,230,250 2030 (1) The fee consists of a 2.0% base acquisition fee and acquisition expense reimbursement for actual acquisition expenses incurred, estimated to be approximately 1% of acquisition value. (See Note 10, Related Party Transactions , for additional discussion.) (2) Pursuant to the Advisory Agreement, 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 $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. (3) The property is currently leased to Hewitt Associates LLC ("Hewitt"), a wholly owned subsidiary of Aon PLC, through February 28, 2017, and Zebra Technologies Corporation ("Zebra Technologies") occupies the property under a sublease agreement. On March 1, 2017, immediately following Hewitt's lease expiration, Zebra Technologies' 117-month lease with the Company will commence. Real Estate - Valuation and Purchase Price Allocation The Company allocates the purchase price to the fair value of the tangible assets of a property by valuing the property as if it were vacant. This “as-if vacant” value is estimated using an income, or discounted cash flow, approach that relies upon Level 3 inputs, which are unobservable inputs based on the Company's review of the assumptions a market participant would use. These Level 3 inputs include discount rates, capitalization rates, market rents and comparable sales data for similar properties. Estimates of future cash flows are based on a number of factors including historical operating results, known and anticipated trends, and market and economic conditions. In calculating the “as-if vacant” value for acquisitions completed during the nine months ended September 30, 2016 , the Company used discount rates ranging from 7.00% to 8.50% . In determining the fair value of intangible lease assets or liabilities, the Company also considers Level 3 inputs. Acquired above- and below-market leases are valued based on the present value of the difference between prevailing market rates and the in-place rates measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases, if applicable. The estimated fair value of acquired in-place at-market tenant leases are the costs that would have been incurred to lease the property to the occupancy level of the property at the date of acquisition. Such estimates include the value associated with leasing commissions, legal and other costs, as well as the estimated period necessary to lease such property that would be incurred to lease the property to its occupancy level at the time of its acquisition. Acquisition costs associated with the business combination are expensed in the period they are incurred. The following summarizes the purchase price allocation for the properties acquired during the nine months ended September 30, 2016 : Property Land Building and Improvements Tenant Origination and Absorption Cost In-Place Lease Valuation Above Market In-Place Lease Valuation (Below) Market Total Toshiba TEC $ 4,130,000 $ 28,640,000 $ 8,180,748 $ — $ (5,150,000 ) $ 35,800,748 NETGEAR $ 20,725,500 $ 17,656,000 $ 8,230,500 $ — $ (2,612,000 ) $ 44,000,000 Nike $ 5,988,000 $ 32,535,000 $ 9,862,000 $ — $ (2,885,000 ) $ 45,500,000 Zebra Technologies (1) $ 5,238,441 $ 35,939,000 $ 20,586,559 $ 326,000 $ (1,940,000 ) $ 60,150,000 WABCO (1) $ 1,301,500 $ 10,823,000 $ 1,775,000 $ — $ (65,000 ) $ 13,834,500 IGT (1) $ 6,324,766 $ 52,818,000 $ 11,623,234 $ — $ (4,266,000 ) $ 66,500,000 (1) As of September 30, 2016 , the purchase price allocation for the acquisition has been allocated on a preliminary basis to the respective assets acquired and the liabilities assumed. Pro Forma Financial Information The following condensed pro forma operating information is presented as if the Company’s properties acquired during the three and nine months ended September 30, 2016 , had been included in operations as of January 1, 2015. The pro forma operating information excludes certain nonrecurring adjustments, such as acquisition fees and expenses incurred, to reflect the pro forma impact the acquisition would have on earnings on a continuous basis: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Revenue $ 18,632,938 $ 17,257,323 $ 55,543,077 $ 32,842,868 Net (loss) income $ 1,523,815 $ 2,561,058 $ 3,626,282 $ 3,797,764 Net (loss) income attributable to noncontrolling interests $ 534 $ 2,925 $ 1,604 $ 7,186 Net (loss) income attributable to common stockholders $ 1,523,281 $ 1,933,386 $ 3,624,678 $ 3,144,636 Net (loss) income to common stockholders per share, basic and diluted $ 0.03 $ 0.11 $ 0.08 $ 0.30 Future Minimum Contractual Rent Payments The future minimum contractual rent payments pursuant to the current lease terms are shown in the table below. The Company's current leases have expirations ranging from 2016 to 2030. As of September 30, 2016 Remaining 2016 $ 12,990,074 2017 48,076,879 2018 52,940,065 2019 54,125,860 2020 55,274,579 Thereafter 271,265,567 Total $ 494,673,024 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. September 30, 2016 December 31, 2015 In-place lease valuation (above market) $ 326,000 $ — In-place lease valuation (above market), accumulated amortization (93,935 ) — In-place lease valuation (above market), net $ 232,065 $ — In-place lease valuation (below market) $ (54,038,561 ) $ (37,120,561 ) In-place lease valuation (below market) - accumulated amortization 4,606,268 1,858,029 In-place lease valuation (below market), net $ (49,432,293 ) $ (35,262,532 ) Tenant origination and absorption cost $ 170,910,229 $ 110,652,188 Tenant origination and absorption cost - accumulated amortization (18,354,536 ) (7,145,094 ) Tenant origination and absorption cost, net $ 152,555,693 $ 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 8.8 and 8.9 years as of September 30, 2016 and December 31, 2015 , respectively. The amortization of the intangible assets and other leasing costs for the respective periods is as follows: Amortization (income) expense for the nine months ended September 30, 2016 2015 In-place lease valuation $ (2,654,304 ) $ (1,091,830 ) Tenant origination and absorption cost $ 11,209,442 $ 3,952,616 The following table sets forth the estimated annual amortization (income) expense for in-place lease valuation, and tenant origination and absorption costs as of September 30, 2016 for the next five years : Year In-Place Lease Valuation Tenant Origination and Absorption Costs Remaining 2016 $ (986,000 ) $ 4,739,000 2017 (4,580,000 ) 19,382,000 2018 (4,706,000 ) 19,467,000 2019 (4,706,000 ) 19,467,000 2020 (4,706,000 ) 19,467,000

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt As of September 30, 2016 and December 31, 2015, the Company's debt and related deferred financing costs consisted of the following: Book Value as of September 30, 2016 Book Value as of December 31, 2015 Contractual Interest Rate (1) Payment Type Loan Maturity Effective Interest Rate (4) Revolving Credit Facility $ 101,457,720 $ 138,557,720 2.18% Interest Only December 2019 (2) 2.88% AIG Loan 126,970,000 126,970,000 4.15% Interest Only (3) November 2025 4.23% Unamortized deferred financing costs (3,051,400 ) (3,573,746 ) Total Debt, net $ 225,376,320 $ 261,953,974 (1) The 2.18% contractual interest rate is based on a 360 -day year, pursuant to the Revolving Credit Facility, whereas the 2.21% weighted-average interest rate is based on a 365 -day year. As discussed below, the interest rate on the Revolving Credit Facility (as defined below) is a one-month LIBO Rate + 1.65% . As of September 30, 2016 , the LIBO Rate was 0.53% . Including the effect of an interest rate swap agreement with a notional amount of $100.0 million , the weighted average interest rate as of September 30, 2016 was approximately 3.38% for the Company's fixed-rate and variable-rate debt combined. (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 (as defined below) requires monthly payments of interest only, at a fixed rate, for the first five years and fixed monthly payments of principal and interest thereafter. (4) Reflects the effective interest rate at September 30, 2016 and includes the effect of amortization of deferred financing costs. 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, N.A. ("KeyBank") and JPMorgan Chase Bank, N.A. ("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 . 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 . 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. (See Note 13, Subsequent Events, for an update on the release of the security for the Revolving Credit Facility). 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 $127.0 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 certain properties. 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 September 30, 2016 .

Interest Rate Contracts

Interest Rate Contracts	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Contracts	Interest Rate Contracts Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both business operations and economic conditions. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of debt funding and the use of derivative financial instruments. Specifically, the Company entered into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by expected cash payments principally related to borrowings and interest rates. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company does not use derivatives for trading or speculative purposes. Derivative Instruments On February 25, 2016, the Company entered into an interest rate swap agreement to hedge the variable cash flows associated with the LIBO Rate-based variable-rate debt, on the Company's Revolving Credit Facility. The interest rate swap is effective for the period from April 1, 2016 to December 12, 2018 with a notional amount of $100.0 million . The effective portion of the change in fair value of derivatives designated and qualifying as cash flow hedges is initially recorded in accumulated other comprehensive loss ("AOCL") and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. The following table sets forth a summary of the interest rate swap at September 30, 2016 and December 31, 2015: Fair value (1) Current Effective Notional Amount (2) Derivative Instrument Effective Date Maturity Date Interest Strike Rate September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Assets/(Liabilities): Interest Rate Swap 4/1/2016 12/12/2018 0.74% $ 118,303 $ — $ 100,000,000 $ — (1) The Company records all derivative instruments on a gross basis on the consolidated balance sheets, and accordingly, there are no offsetting amounts that net assets against liabilities. As of September 30, 2016 , the Company's derivative was in an asset position, and as such, the fair value is included in the line item "Other Assets, net" on the consolidated balance sheet. (2) Represents the notional amount of swap that was effective as of the balance sheet date of September 30, 2016 and December 31, 2015 . The following table sets forth the impact of the interest rate swap on the consolidated statements of operations for the periods presented: Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Interest Rate Swap in Cash Flow Hedging Relationship: Amount of (loss) gain recognized in AOCL on derivatives (effective portion) $ 220,293 $ (183,946 ) Amount of (loss) gain reclassified from AOCL into earnings under “Interest expense” (effective portion) $ (60,778 ) $ (134,312 ) Amount of (loss) gain recognized in earnings under “Interest expense” (ineffective portion and amount excluded from effectiveness testing) $ 167,937 $ 167,937 During the next twelve months, the Company estimates that an additional $0.1 million of expense will be recognized from AOCL into earnings. Certain agreements with the derivative counterparties contain a provision where if the Company defaults on any of the Company's indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender within a specified time period, then the Company could also be declared in default on its derivative obligations. As of September 30, 2016 , the fair value of interest rate swap was in an asset position excluding any adjustment for nonperformance risk related to these agreements, which was approximately $0.1 million . As of September 30, 2016 , the Company had not posted any collateral related to these agreements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company is required to disclose fair value information about all financial instruments, whether or not recognized in the consolidated balance sheets, for which it is practicable to estimate fair value. The Company measures and discloses the estimated fair value of financial assets and liabilities utilizing a fair value hierarchy that distinguishes between data obtained from sources independent of the reporting entity and the reporting entity’s own assumptions about market participant assumptions. This hierarchy consists of three broad levels, as follows: (i) quoted prices in active markets for identical assets or liabilities, (ii) "significant other observable inputs," and (iii) "significant unobservable inputs." "Significant other observable inputs" can include quoted prices for similar assets or liabilities in active markets, as well as inputs that are observable for the asset or liability, such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. "Significant unobservable inputs" are typically based on an entity’s own assumptions, since there is little, if any, related market activity. In instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level of input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. There were no transfers between the levels in the fair value hierarchy during the nine months ended September 30, 2016 . The following tables set forth the assets/(liabilities) that the Company measures at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2016 : Total Fair Value Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Interest Rate Swaps at: September 30, 2016 $ 118,303 $ — $ 118,303 $ — Financial instruments as of September 30, 2016 consisted of cash and cash equivalents, accounts receivable, accounts payable and other accrued expenses, fixed rate debt and other borrowings. The amounts of the financial instruments presented in the consolidated financial statements substantially approximate their fair value as of September 30, 2016 . 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 nine months ended September 30, 2016 and year ended December 31, 2015 .

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accrued Liabilities and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following as of September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Prepaid rent $ 8,993,279 $ 2,382,913 Tenant improvement allowance 4,837,685 74,951 Real estate taxes payable 2,336,200 1,118,866 Other liabilities 3,727,307 3,539,464 Total $ 19,894,471 $ 7,116,194

Equity

Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Equity	Equity Reallocation of Shares in Public Offering The Company initially registered $2.2 billion 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 was offering up to approximately $1.8 billion in shares of Class T common stock in the Primary Offering. On March 2, 2016, the Company's board of directors extended the termination date of the Offering from July 31, 2016 until July 31, 2017, which is three years after the effective date of the Offering. The Company's board of directors reserves the right to further extend the Offering, in certain circumstances, or terminate the Offering at any time prior to July 31, 2017. On March 29, 2016, the Company's board of directors approved a reallocation of shares being offered in the Primary Offering and the commencement of offering a new class of common stock, Class I shares. Effective April 25, 2016, the Company is offering up to $1.56 billion in shares of Class T common stock and up to $0.2 billion in shares of Class I common stock in the Primary Offering. Class I shares are sold at a price of $9.30 per share, reflecting the fact that no selling commissions or stockholder servicing fees are payable on such shares. Class I shares are only available to investors who: (1) purchase shares through fee-based programs, also known as wrap accounts, (2) purchase shares through participating broker dealers that have alternative fee arrangements with their clients, (3) purchase shares through certain registered investment advisers, (4) purchase shares through bank trust departments or any other organization or person authorized to act in a fiduciary capacity for its clients or customers, or (5) are an endowment, foundation, pension fund or other institutional investor. In September 2016, the Company's board of directors approved the close of the Company’s Primary Offering effective January 20, 2017. (See Note 1, Organization , for a discussion on the closing of the Company's Primary Offering). The Company determined to cease offering Class A shares and commence offering Class T shares and Class I shares due to recent regulatory developments and trends related to non-traded alternative investment products, which include concerns over the amount of selling commissions paid from offering proceeds and disclosure of the same on customer account statements, and have resulted in many sponsors of alternative investment products electing to utilize share class structures that involve a lower up-front selling commission paid from offering proceeds. Class A shares, Class T shares and Class I shares vote together as a single class, and each share is entitled to one vote on each matter submitted to a vote at meetings 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 is entitled to the same distributions as other classes, and the net asset value, or NAV, per share is the same across share classes. The following table summarizes shares issued and gross proceeds for each share class as of September 30, 2016 : Class A Class T Class I Gross proceeds from Primary Offering $ 240,779,591 $ 357,574,012 $ 5,302,188 Gross proceeds from DRP $ 10,263,557 $ 4,512,631 $ 24,363 Shares issued in Primary Offering 24,199,760 35,830,637 570,134 DRP shares issued 1,080,374 475,014 2,565 Stock distribution shares issued 139,869 75,094 472 Total 25,420,003 36,380,745 573,171 Offering and Organizational Costs 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 Primary Offering) incurred in connection with the Offering totaling in excess of (i) 3.5% (excluding selling commissions, dealer manager fees and stockholder servicing fees) of the gross proceeds raised in the Offering (excluding gross proceeds from the DRP), and (ii) 15% (including selling 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 DRP). 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 September 30, 2016 and December 31, 2015 , organizational and offering costs were 3.2% and 1.4% of gross offering proceeds, respectively, excluding selling commissions, dealer manager fees and stockholder servicing fees, and 10.6% and 10.5% of gross offering proceeds, respectively, including selling commissions, dealer manager fees and stockholder servicing fees. As of September 30, 2016 and December 31, 2015 , organizational and offering costs did not exceed the limitations. Organizational and offering costs incurred as of September 30, 2016 and December 31, 2015 , including those incurred by the Company and due to the Advisor, for the Offering are as follows: September 30, 2016 December 31, 2015 Cumulative offering costs $ 63,427,686 $ 28,668,982 Cumulative organizational costs $ 713,769 $ 517,841 Organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback $ 3,680,398 $ 3,534,806 Less payments (3,680,398 ) (3,073,206 ) Net organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback (1) $ — $ 461,600 Advisor Advances: Organizational and offering costs advanced by the Advisor 2,041,942 382,314 Dealer Manager fees advanced by the Advisor 3,570,883 764,628 Net organizational and offering costs and Dealer Manager fees advanced by the Advisor $ 5,612,825 $ 1,608,542 (1) See Note 10, Related Party Transactions , for discussion on Contingent Advisor Payment Holdback. Distribution Reinvestment Plan The Company adopted a DRP that allows stockholders to have distributions otherwise distributable to them invested in additional shares of common stock. The plan became effective on July 31, 2014, and was amended and restated effective as of May 9, 2016. No selling commission, dealer manager fee or stockholder servicing fee are paid on shares sold through the DRP. Under the DRP, the Company issues shares of common stock at a price of $9.50 for Class A, Class T and Class I shares. The Company may amend or terminate the DRP for any reason at any time upon 10 days' prior written notice to stockholders. 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 a portion consisting of at least 25% of their shares of stock redeemed by the Company. During any calendar year, the Company will not redeem more than 5.0% of the weighted average number of shares outstanding during the prior calendar year. 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 price per share 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 per Share Less than 1 year No Redemption Allowed After one year from the purchase date 90.0% of the Redemption Amount (as defined below) After two years from the purchase date 95.0% of the Redemption Amount After three years from the purchase date 97.5% of the Redemption Amount After four years from the purchase date 100.0% of the Redemption Amount The Redemption Amount for shares purchased under the Company's share redemption program shall be the lesser of (i) the amount the stockholder paid for their shares or (ii) the NAV of the shares. 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 DRP 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 DRP, 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 DRP. As of September 30, 2016 , $ 13.2 million of common stock were available for redemption and $0.2 million of common stock were reclassified from redeemable common stock to accrued expenses and other liabilities in the consolidated balance sheet as of September 30, 2016 . Redemption requests will be honored on or about the last business day of the month following the end of each quarter. Requests for redemption must be received on or prior to the end of the quarter in order for the Company to repurchase the shares as of the end of the following month. As of June 30, 2016, $1.2 million of common stock were tendered and redeemed on August 1, 2016.

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interests Noncontrolling interests represent limited partnership interests in the Operating Partnership. The Operating Partnership issued 20,000 limited partnership units for $10 .00 per unit on February 11, 2014, to the Advisor in exchange for the initial capitalization of the Operating Partnership. As of September 30, 2016 , noncontrolling interests were approximately 0.03% of total shares and 0.04% of weighted average shares outstanding (both measures assuming limited partnership units were converted to common stock). The Company evaluates individual noncontrolling interests for the ability to recognize the noncontrolling interest as permanent equity on the consolidated balance sheets at the time such interests are issued and on a continual basis. Any noncontrolling interest that fails to qualify as permanent equity will be reclassified as temporary equity and adjusted to the greater of (a) the carrying amount, or (b) its redemption value as of the end of the period in which the determination is made. The limited partners of the Operating Partnership will have the right to cause the Operating Partnership to redeem their limited partnership units only after the units have been outstanding for one year. The Company may, in its sole and absolute discretion, elect to acquire the limited partnership units for cash equal to the value of an equivalent number of shares, or, purchase such limited partners' limited partnership units by generally 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. The limited partnership units are reported on the consolidated balance sheets as noncontrolling interests within shareholders' equity. The following summarizes the activity for noncontrolling interests for the nine months ended September 30, 2016 and the year ended December 31, 2015 : Nine Months Ended September 30, 2016 Year Ended December 31, 2015 Beginning balance $ 97,189 $ 139,041 Distributions to noncontrolling interests (8,235 ) (11,000 ) Net loss (2,894 ) (30,852 ) Other comprehensive loss (49 ) — Ending balance $ 86,011 $ 97,189

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 : Year Ended December 31, 2015 Nine Months Ended September 30, 2016 Payable Incurred Paid Payable Advisor and Property Manager fees Acquisition fees and expenses $ 8,675 $ 6,323,670 $ 6,332,345 $ — Operating expenses 108,538 1,517,029 876,305 749,262 Asset management fees 400,120 4,259,380 4,041,041 618,459 Property management fees 94,528 659,436 668,084 85,880 Organization and offering expenses Organizational expenses 2,383 — 2,383 — Offering expenses 459,216 26,371 485,587 — Other costs advanced by the Advisor 23,029 68,405 78,727 12,707 Selling commissions Class T shares 40,421 9,042,878 9,045,145 38,154 Dealer Manager fees Class T and I shares 14,876 3,137,557 3,137,189 15,244 Stockholder servicing fee (1) 24,968 14,280,836 699,818 13,605,986 Advisor Advances: (2) Organization and offering expenses 382,314 2,266,819 607,191 2,041,942 Dealer Manager fees (3) 764,628 6,444,748 3,638,493 3,570,883 Total $ 2,323,696 $ 48,027,129 $ 29,612,308 $ 20,738,517 (1) The Dealer Manager is entitled to receive a 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 up to a maximum of 4% in the aggregate. (2) Pursuant 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 (subject to the limits discussed in Note 8, Equity ). 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; provided, however, 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. (3) The Dealer Manager Agreement (as defined below and commencing on April 25, 2016 to incorporate Class I shares) provides that the Dealer Manager is entitled to receive a selling 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 or Class I shares sold in the Primary Offering. Pursuant to the Dealer Manager Agreement, of the 3.0% dealer manager fee for Class T and Class I shares, 1.0% will be funded by the Company and 2.0% will be funded by the Advisor. Advisory Agreement The Company entered into the advisory agreement with the Advisor and the Operating Partnership on July 31, 2014, as amended by Amendment No. 1 to the Advisory Agreement dated March 18, 2015, Amendment No. 2 to the Advisory Agreement dated November 2, 2015, Amendment No. 3 to the Advisory Agreement dated December 16, 2015 and Amendment No. 4 to the Advisory Agreement dated February 9, 2016 (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 selling 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 selling 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. 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. Acquisition Fees Commencing November 2, 2015, the Advisor is entitled to receive a 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 fee consists of a 2.0% base acquisition fee and up to an additional 1.85% Contingent Advisor Payment; provided, however, that $5.0 million 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. Asset Management Fee The Advisor receives an annual asset management fee for managing the Company’s assets equal to 1.0% of the Average Invested Assets, defined as the aggregate carrying value of the assets invested before reserves for depreciation. The fee will be computed based on the average of these values at the end of each month. The asset management fees are earned monthly. Operating Expenses The Advisor and its affiliates are entitled to reimbursement, for certain expenses incurred on behalf of the Company in connection with providing administrative services, including related personnel costs; provided, however, the Advisor must reimburse the Company for the amount, if any, by which total operating expenses (as defined), including advisory fees, paid during the previous 12 months then ended exceeded the greater of: (i) 2% of the Company’s average invested assets for that 12 months then ended; or (ii) 25% of the Company’s net income, before any additions to reserves for depreciation, bad debts or other expenses connected with the acquisition and disposition of real estate interests and before any gain from the sale of the Company’s assets, for that fiscal year, unless the Company’s board of directors has determined that such excess expenses were justified based on unusual and non-recurring factors. Operating expenses for the three and nine months ended September 30, 2016 included approximately $0.1 million and $0.2 million, respectively, to reimburse the Advisor and its affiliates a portion of the compensation paid by the Advisor and its affiliates for the Company's principal financial officer, Javier F. Bitar, former principal financial officer, Joseph E. Miller and executive vice president, David C. Rupert, for services provided to the Company, for which the Company does not pay the Advisor a fee. In addition, the Company incurred approximately $0.1 million and $0.3 million for reimbursable expenses to the Advisor for services provided to the Company by certain of its other executive officers during the three and nine months ended September 30, 2016 , respectively. The reimbursable expenses include components of salaries, bonuses, benefits and other overhead charges and are based on the percentage of time each executive officer spends on the Company's affairs. Dealer Manager Agreement The Company entered into a dealer manager agreement with the Dealer Manager on June 20, 2014, as amended by Amendment No. 1 to the Dealer Manager Agreement dated November 25, 2014, as amended by Amendment No. 2 to the Dealer Manager Agreement dated October 9, 2015, and Amendment No. 3 to the Dealer Manager Agreement dated April 25, 2016 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 selling 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 provided that the Dealer Manager was entitled to receive a selling 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. Commencing April 25, 2016, the Dealer Manager Agreement provides that the Dealer Manager is entitled to receive a selling commission equal to up to 3.0% of gross proceeds from Class T shares sold in the Primary Offering and an aggregate dealer manager fee equal to 3.0% of gross proceeds from Class T shares and Class I 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 up to a maximum of 4% in the aggregate. 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. 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 for providing ongoing or regular account or portfolio maintenance for the stockholder, assisting with recordkeeping, assisting and processing distribution payments, assisting with share repurchase requests, offering to meet with the stockholder periodically to provide overall guidance on the stockholder’s investment in the Company or to answer questions about the account statement or valuations, or providing other similar services as the stockholder may reasonably require in connection with such stockholder’s investment in Class T Shares; provided, however, that with respect to any individual investment, the Dealer Manager will not re-allow the related stockholder servicing fee to any broker-dealer if such broker-dealer ceases to hold the account related to such investment or fails to provide the aforementioned services . 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. 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. Employee and Director Long-Term Incentive Plan The Company’s board of directors 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 September 30, 2016 , 6,222,637 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 and sponsors or co-sponsors to some or all of ten other programs affiliated with the Sponsor, including Griffin Capital Essential Asset REIT, Inc. ("GCEAR"), Griffin-American Healthcare REIT III, Inc. ("GAHR III"), and Griffin-American Healthcare REIT IV, Inc. ("GAHR IV"), all of which are publicly-registered, non-traded real estate investment trusts, Griffin-Benefit Street Partners BDC Corp. ("GB-BDC"), a non-traded business development company regulated under the Investment Company Act of 1940 (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: 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. 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	9 Months Ended
	Sep. 30, 2016
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	9 Months Ended
	Sep. 30, 2016
Declaration of Distributions [Abstract]
Declaration of Distributions	Declaration of Distributions During the quarter ended September 30, 2016 , the Company paid cash distributions in the amount of $0.0015027322 per day per share per Class A share, Class T share and Class I 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 July 1, 2016 through September 30, 2016 . Such distributions were paid on a monthly basis, on or about the first day of the month, for the month then-ended. During the quarter ended September 30, 2016 , the Company paid stock distributions in the amount of 0.000013661 Class A shares, Class T shares or Class I shares per day per share payable to stockholders of record at the close of business on each day during the period from July 1, 2016 through September 30, 2016 . Such distributions were paid on a monthly basis, on or about the first day of the month, for the month then-ended. On September 14, 2016, the Company's board of directors declared cash distributions in the amount of $0.0015027322 per day per share per Class A share, Class T share and Class I 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, 2016 through December 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. On September 14, 2016, the Company's board of directors declared a stock distribution in the amount of 0.000013661 Class A shares, Class T shares or Class I shares of stock per day per share payable to stockholders of record at the close of business each day of the period from October 1, 2016 through December 31, 2016. Such stock distribution to each stockholder of record during a month will be issued on such date of the following month as the Company's Chief Executive Officer may determine.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Status of the Offering As of November 7, 2016 , the Company has received and accepted subscriptions in the Offering for 63,822,234 shares of common stock, or $635.6 million, excluding shares of common stock issued pursuant to the DRP. To date, a total of $16.4 million in distributions of common stock were reinvested pursuant to the DRP and 1,726,214 shares of common stock were issued pursuant to the DRP. Acquisition of 3M Property On October 25, 2016, the Company, through the Operating Partnership, acquired a single story, Class "A" distribution and warehouse property consisting of 978,120 net rentable square feet situated on a 49.71 -acre site located in DeKalb, Illinois (the "3M property"). The 3M property is currently leased in its entirety to 3M Company ("3M"). The purchase price for the 3M property was approximately $69.4 million , plus closing costs. Security Interest Termination The Revolving Credit Facility was initially secured by a pledge of 100% of the ownership interests in each special purpose entity which owns a pool property. On November 1, 2016, all pledged membership interests were released from the lien of the pledge agreements and subsequently terminated. Adjustments to the applicable rate shall be effective as of January 1, 2017.

Summary of Significant Accoun21

Summary of Significant Accounting Policies and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Stockholder Servicing Fee	Stockholder Servicing Fee The Company pays the Dealer Manager a stockholder servicing fee with respect to the Class T shares sold as additional compensation to the Dealer Manager, which will be reallocated to the participating broker-dealers. Participating broker-dealers are expected to provide ongoing or regular account or portfolio maintenance for the stockholder, which may include one or more of the following: assisting with recordkeeping, assisting and processing distribution payments, assisting with share repurchase requests, offering to contact the stockholder periodically to provide information about the stockholder’s investment in the Company or to answer questions about the account statement or valuations, or providing other similar services as the stockholder may reasonably require in connection with such stockholder’s investment in Class T shares . The stockholder servicing fee accrues daily equal to 1/365th of 1% of the purchase price per share of the Class T shares sold in the Company's Primary Offering up to a maximum of 4% in the aggregate and is 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. The Company records the stockholder servicing fee as a reduction to paid in capital at the time of sale of the Class T share with a corresponding liability, on an undiscounted basis. From inception through March 31, 2016, the Company recorded the stockholder servicing fee as a general and administrative expense when the fee was paid. The Company’s accounting of stockholder servicing fees of Class T shares sold to the public was determined to not be in compliance with GAAP in prior periods. The Company assessed the cumulative impact of the correction between total equity and total expenses for the year-ended December 31, 2015 and the three months ended March 31, 2016, and as a result, recorded a reduction to equity of approximately $5.6 million and a corresponding increase to Due to Affiliates (as stockholder servicing fee due to the Dealer Manager) of approximately $5.3 million and a decrease of approximately $0.2 million to Corporate Operating Expenses to Affiliates to correct the balances as of June 30, 2016. The effect of the three months ended March 31, 2016 adjustment on income from operations and net loss recorded in the three months ended June 30, 2016 period was $0.2 million and had no impact on earnings per share. 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 and the three months ended March 31, 2016, using both the roll-over method and iron-curtain methods 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 providing for the correction in 2016 did not have a material effect on its financial statements for the quarter ended June 30, 2016.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Accounting Standards Codification ("ASC") Topic 815: Derivatives and Hedgin g ("ASC 815"), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. As required by ASC 815, the Company recorded all derivatives on the consolidated balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, and whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. (See Note 5, Interest Rate Contracts.) The accompanying unaudited consolidated financial statements of the Company were prepared by management on the accrual basis of accounting and in accordance with principles generally accepted in the United States (“GAAP”) for interim financial information as contained in the Financial Accounting Standards Board ("FASB") ASC, and in conjunction with rules and regulations of the SEC. Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The unaudited consolidated financial statements include accounts and related adjustments of the Company, the Operating Partnership and the TRS, if applicable, which are, in the opinion of management, of a normal recurring nature and necessary for a fair presentation of the Company’s financial position for the interim period. All significant intercompany accounts and transactions have been eliminated in consolidation. Operating results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 .
Use of Estimates	Use of Estimates The preparation of the unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
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. As of September 30, 2016 and December 31, 2015 , there were no common stock equivalents that would have a dilutive effect on earnings (loss) per share for common stockholders. The Company retroactively adjusted the number of common shares outstanding in accordance with ASC 260-10, Earnings per Share. ASC 260-10 requires the computations of basic and diluted earnings per share shall be adjusted retroactively for all periods presented to reflect the change in capital structure, if the number of common shares outstanding increases as a result of a stock dividend or stock split or decreases as a result of a reverse stock split. If changes in common stock resulting from stock dividends, stock splits, or reverse stock splits occur after the close of the period but before the consolidated financial statements are issued or are available to be issued, the per-share computations for those and any prior-period consolidated financial statements presented shall be based on the new number of shares.
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.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments . ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing diversity in practice. The cash flow issues include debt prepayment or debt extinguishment costs and proceeds from the settlement of insurance claims. The ASU is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. The Company is currently evaluating the impact the new standard may have on our consolidated financial statements. 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 standard on the consolidated financial statements. 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. The Company adopted ASU 2015-03, beginning with the quarter ended March 31, 2016. As a result of the adoption of ASU 2015-03, the Company reclassified approximately $3.6 million of net debt issuance costs from an asset (previously recorded in the line item “Deferred financing costs, net” in the consolidated balance sheet) to a reduction in the carrying amount of the Company's debt as of December 31, 2015. ASU 2015-03 also expands disclosure requirements to include the face amount of the debt liability and the effective interest rate in the notes to the consolidated financial statements. (See Note 4, Debt.) 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 adopted ASU No. 2015-02, beginning with the quarter ended March 31, 2016. There was no change to the Company's consolidated financial statements as a result of adoption. In August 2014, the FASB issued ASU No. 2014-15, P resentation 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 the consolidated 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 impact of adopting the standard on the consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) . The amendments clarify how an entity should identify the unit of accounting (i.e., the specified good or service) for the principal versus agent evaluation, and how it should apply the control principle to certain types of arrangements, such as service transactions, by explaining what a principal controls before the specified good or service is transferred to the customer. The effective date and transition requirements for the amendments are the same as the effective date and transition requirements of ASU No. 2014-09. 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 impact of adopting the standard on the consolidated financial statements.

Real Estate (Tables)

Real Estate (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Aggregate purchase price of the acquisitions	The purchase price and other acquisition items for properties acquired during the nine months ended September 30, 2016 are shown below. Paid to Advisor Property Location Tenant/Major Lessee Acquisition Date Purchase Price Approx. Square Feet Acquisition Fees and Reimbursable Expenses (1) Contingent Advisor Payment (2) Year of Lease Expiration Toshiba TEC Durham, NC Toshiba TEC Corporation 1/21/2016 $ 35,800,748 200,800 $ 870,409 $ — 2028 NETGEAR San Jose, CA NETGEAR, Inc. 5/17/2016 44,000,000 142,700 1,000,411 197,780 2025 Nike Hillsboro, OR Nike, Inc. 6/16/2016 45,500,000 266,800 1,139,376 841,750 2020 Zebra Technologies Lincolnshire, IL Hewitt Associates LLC (3) 8/1/2016 60,150,000 283,300 1,346,120 1,112,775 2017/2026 WABCO North Charleston, SC WABCO Air Compressor Holdings Inc. 9/14/2016 13,834,500 145,200 456,905 255,938 2023 IGT Las Vegas, NV IGT 9/27/2016 66,500,000 222,300 1,521,553 1,230,250 2030 (1) The fee consists of a 2.0% base acquisition fee and acquisition expense reimbursement for actual acquisition expenses incurred, estimated to be approximately 1% of acquisition value. (See Note 10, Related Party Transactions , for additional discussion.) (2) Pursuant to the Advisory Agreement, 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 $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. (3) The property is currently leased to Hewitt Associates LLC ("Hewitt"), a wholly owned subsidiary of Aon PLC, through February 28, 2017, and Zebra Technologies Corporation ("Zebra Technologies") occupies the property under a sublease agreement. On March 1, 2017, immediately following Hewitt's lease expiration, Zebra Technologies' 117-month lease with the Company will commence.
Summary of purchase price allocation	The following summarizes the purchase price allocation for the properties acquired during the nine months ended September 30, 2016 : Property Land Building and Improvements Tenant Origination and Absorption Cost In-Place Lease Valuation Above Market In-Place Lease Valuation (Below) Market Total Toshiba TEC $ 4,130,000 $ 28,640,000 $ 8,180,748 $ — $ (5,150,000 ) $ 35,800,748 NETGEAR $ 20,725,500 $ 17,656,000 $ 8,230,500 $ — $ (2,612,000 ) $ 44,000,000 Nike $ 5,988,000 $ 32,535,000 $ 9,862,000 $ — $ (2,885,000 ) $ 45,500,000 Zebra Technologies (1) $ 5,238,441 $ 35,939,000 $ 20,586,559 $ 326,000 $ (1,940,000 ) $ 60,150,000 WABCO (1) $ 1,301,500 $ 10,823,000 $ 1,775,000 $ — $ (65,000 ) $ 13,834,500 IGT (1) $ 6,324,766 $ 52,818,000 $ 11,623,234 $ — $ (4,266,000 ) $ 66,500,000 (1) As of September 30, 2016 , the purchase price allocation for the acquisition has been allocated on a preliminary basis to the respective assets acquired and the liabilities assumed.
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 the acquisition would have on earnings on a continuous basis: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Revenue $ 18,632,938 $ 17,257,323 $ 55,543,077 $ 32,842,868 Net (loss) income $ 1,523,815 $ 2,561,058 $ 3,626,282 $ 3,797,764 Net (loss) income attributable to noncontrolling interests $ 534 $ 2,925 $ 1,604 $ 7,186 Net (loss) income attributable to common stockholders $ 1,523,281 $ 1,933,386 $ 3,624,678 $ 3,144,636 Net (loss) income to common stockholders per share, basic and diluted $ 0.03 $ 0.11 $ 0.08 $ 0.30
Schedule of future minimum net rent payments	The future minimum contractual rent payments pursuant to the current lease terms are shown in the table below. The Company's current leases have expirations ranging from 2016 to 2030. As of September 30, 2016 Remaining 2016 $ 12,990,074 2017 48,076,879 2018 52,940,065 2019 54,125,860 2020 55,274,579 Thereafter 271,265,567 Total $ 494,673,024
Schedule of in-place lease valuation	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. September 30, 2016 December 31, 2015 In-place lease valuation (above market) $ 326,000 $ — In-place lease valuation (above market), accumulated amortization (93,935 ) — In-place lease valuation (above market), net $ 232,065 $ — In-place lease valuation (below market) $ (54,038,561 ) $ (37,120,561 ) In-place lease valuation (below market) - accumulated amortization 4,606,268 1,858,029 In-place lease valuation (below market), net $ (49,432,293 ) $ (35,262,532 ) Tenant origination and absorption cost $ 170,910,229 $ 110,652,188 Tenant origination and absorption cost - accumulated amortization (18,354,536 ) (7,145,094 ) Tenant origination and absorption cost, net $ 152,555,693 $ 103,507,094
Schedule of amortization expense	The amortization of the intangible assets and other leasing costs for the respective periods is as follows: Amortization (income) expense for the nine months ended September 30, 2016 2015 In-place lease valuation $ (2,654,304 ) $ (1,091,830 ) Tenant origination and absorption cost $ 11,209,442 $ 3,952,616
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 September 30, 2016 for the next five years : Year In-Place Lease Valuation Tenant Origination and Absorption Costs Remaining 2016 $ (986,000 ) $ 4,739,000 2017 (4,580,000 ) 19,382,000 2018 (4,706,000 ) 19,467,000 2019 (4,706,000 ) 19,467,000 2020 (4,706,000 ) 19,467,000

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt	As of September 30, 2016 and December 31, 2015, the Company's debt and related deferred financing costs consisted of the following: Book Value as of September 30, 2016 Book Value as of December 31, 2015 Contractual Interest Rate (1) Payment Type Loan Maturity Effective Interest Rate (4) Revolving Credit Facility $ 101,457,720 $ 138,557,720 2.18% Interest Only December 2019 (2) 2.88% AIG Loan 126,970,000 126,970,000 4.15% Interest Only (3) November 2025 4.23% Unamortized deferred financing costs (3,051,400 ) (3,573,746 ) Total Debt, net $ 225,376,320 $ 261,953,974 (1) The 2.18% contractual interest rate is based on a 360 -day year, pursuant to the Revolving Credit Facility, whereas the 2.21% weighted-average interest rate is based on a 365 -day year. As discussed below, the interest rate on the Revolving Credit Facility (as defined below) is a one-month LIBO Rate + 1.65% . As of September 30, 2016 , the LIBO Rate was 0.53% . Including the effect of an interest rate swap agreement with a notional amount of $100.0 million , the weighted average interest rate as of September 30, 2016 was approximately 3.38% for the Company's fixed-rate and variable-rate debt combined. (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 (as defined below) requires monthly payments of interest only, at a fixed rate, for the first five years and fixed monthly payments of principal and interest thereafter. (4) Reflects the effective interest rate at September 30, 2016 and includes the effect of amortization of deferred financing costs.

Interest Rate Contracts (Tables

Interest Rate Contracts (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table sets forth a summary of the interest rate swap at September 30, 2016 and December 31, 2015: Fair value (1) Current Effective Notional Amount (2) Derivative Instrument Effective Date Maturity Date Interest Strike Rate September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Assets/(Liabilities): Interest Rate Swap 4/1/2016 12/12/2018 0.74% $ 118,303 $ — $ 100,000,000 $ — (1) The Company records all derivative instruments on a gross basis on the consolidated balance sheets, and accordingly, there are no offsetting amounts that net assets against liabilities. As of September 30, 2016 , the Company's derivative was in an asset position, and as such, the fair value is included in the line item "Other Assets, net" on the consolidated balance sheet. (2) Represents the notional amount of swap that was effective as of the balance sheet date of September 30, 2016 and December 31, 2015 .
Impact of Interest Rate Swap on Consolidated Statements of Operation	The following table sets forth the impact of the interest rate swap on the consolidated statements of operations for the periods presented: Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Interest Rate Swap in Cash Flow Hedging Relationship: Amount of (loss) gain recognized in AOCL on derivatives (effective portion) $ 220,293 $ (183,946 ) Amount of (loss) gain reclassified from AOCL into earnings under “Interest expense” (effective portion) $ (60,778 ) $ (134,312 ) Amount of (loss) gain recognized in earnings under “Interest expense” (ineffective portion and amount excluded from effectiveness testing) $ 167,937 $ 167,937

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables set forth the assets/(liabilities) that the Company measures at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2016 : Total Fair Value Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Interest Rate Swaps at: September 30, 2016 $ 118,303 $ — $ 118,303 $ —

Accrued Expenses and Other Li26

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following as of September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Prepaid rent $ 8,993,279 $ 2,382,913 Tenant improvement allowance 4,837,685 74,951 Real estate taxes payable 2,336,200 1,118,866 Other liabilities 3,727,307 3,539,464 Total $ 19,894,471 $ 7,116,194

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of shares issued and gross proceeds for each class	The following table summarizes shares issued and gross proceeds for each share class as of September 30, 2016 : Class A Class T Class I Gross proceeds from Primary Offering $ 240,779,591 $ 357,574,012 $ 5,302,188 Gross proceeds from DRP $ 10,263,557 $ 4,512,631 $ 24,363 Shares issued in Primary Offering 24,199,760 35,830,637 570,134 DRP shares issued 1,080,374 475,014 2,565 Stock distribution shares issued 139,869 75,094 472 Total 25,420,003 36,380,745 573,171
Organizational and Offering Costs Incurred	Organizational and offering costs incurred as of September 30, 2016 and December 31, 2015 , including those incurred by the Company and due to the Advisor, for the Offering are as follows: September 30, 2016 December 31, 2015 Cumulative offering costs $ 63,427,686 $ 28,668,982 Cumulative organizational costs $ 713,769 $ 517,841 Organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback $ 3,680,398 $ 3,534,806 Less payments (3,680,398 ) (3,073,206 ) Net organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback (1) $ — $ 461,600 Advisor Advances: Organizational and offering costs advanced by the Advisor 2,041,942 382,314 Dealer Manager fees advanced by the Advisor 3,570,883 764,628 Net organizational and offering costs and Dealer Manager fees advanced by the Advisor $ 5,612,825 $ 1,608,542 (1) See Note 10, Related Party Transactions , for discussion on Contingent Advisor Payment Holdback
Share redemption price	The redemption price per share 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 per Share Less than 1 year No Redemption Allowed After one year from the purchase date 90.0% of the Redemption Amount (as defined below) After two years from the purchase date 95.0% of the Redemption Amount After three years from the purchase date 97.5% of the Redemption Amount After four years from the purchase date 100.0% of the Redemption Amount

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	The following summarizes the activity for noncontrolling interests for the nine months ended September 30, 2016 and the year ended December 31, 2015 : Nine Months Ended September 30, 2016 Year Ended December 31, 2015 Beginning balance $ 97,189 $ 139,041 Distributions to noncontrolling interests (8,235 ) (11,000 ) Net loss (2,894 ) (30,852 ) Other comprehensive loss (49 ) — Ending balance $ 86,011 $ 97,189

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 : Year Ended December 31, 2015 Nine Months Ended September 30, 2016 Payable Incurred Paid Payable Advisor and Property Manager fees Acquisition fees and expenses $ 8,675 $ 6,323,670 $ 6,332,345 $ — Operating expenses 108,538 1,517,029 876,305 749,262 Asset management fees 400,120 4,259,380 4,041,041 618,459 Property management fees 94,528 659,436 668,084 85,880 Organization and offering expenses Organizational expenses 2,383 — 2,383 — Offering expenses 459,216 26,371 485,587 — Other costs advanced by the Advisor 23,029 68,405 78,727 12,707 Selling commissions Class T shares 40,421 9,042,878 9,045,145 38,154 Dealer Manager fees Class T and I shares 14,876 3,137,557 3,137,189 15,244 Stockholder servicing fee (1) 24,968 14,280,836 699,818 13,605,986 Advisor Advances: (2) Organization and offering expenses 382,314 2,266,819 607,191 2,041,942 Dealer Manager fees (3) 764,628 6,444,748 3,638,493 3,570,883 Total $ 2,323,696 $ 48,027,129 $ 29,612,308 $ 20,738,517 (1) The Dealer Manager is entitled to receive a 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 up to a maximum of 4% in the aggregate. (2) Pursuant 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 (subject to the limits discussed in Note 8, Equity ). 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; provided, however, 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. (3) The Dealer Manager Agreement (as defined below and commencing on April 25, 2016 to incorporate Class I shares) provides that the Dealer Manager is entitled to receive a selling 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 or Class I shares sold in the Primary Offering. Pursuant to the Dealer Manager Agreement, of the 3.0% dealer manager fee for Class T and Class I shares, 1.0% will be funded by the Company and 2.0% will be funded by the Advisor.

Organization - Narrative (Detai

Organization - Narrative (Details) - USD ($)	Sep. 30, 2016	Apr. 25, 2016	Dec. 31, 2015	Nov. 02, 2015	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)	62,226,367		28,566,170			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
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%
IPO
Subsidiary, Sale of Stock [Line Items]
Offering amount in sales of shares					2,000,000,000
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
Class A
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares authorized (in shares)		(100,000,000)			350,000,000
Class T
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares authorized (in shares)		(50,000,000)			350,000,000
Class T | IPO
Subsidiary, Sale of Stock [Line Items]
Offering amount in sales of shares		$ 1,560,000,000		$ 1,800,000,000
Class I
Subsidiary, Sale of Stock [Line Items]
Common stock, number of shares authorized (in shares)		150,000,000
Class I | IPO
Subsidiary, Sale of Stock [Line Items]
Offering amount in sales of shares		$ 200,000,000

Summary of Significant Accoun31

Summary of Significant Accounting Policies and Basis of Presentation - Narrative (Details)	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)$ / shares	Jun. 30, 2016USD ($)$ / shares	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2016USD ($)segment$ / sharesshares	Sep. 30, 2015USD ($)$ / shares	Dec. 31, 2015USD ($)shares	Mar. 31, 2016USD ($)	Nov. 02, 2015	Dec. 31, 2014USD ($)
Real Estate Properties [Line Items]
Organizational and offering costs advanced by and due to the Advisor (percent)	4.00%			4.00%				4.00%
Impact of error correction on equity	$ (489,625,636)			$ (489,625,636)		$ (224,941,287)			$ (9,480,161)
Impact of error correction on Due to affiliates	20,738,517			20,738,517		$ 2,323,696
Impact of error correction on general and administrative expense	(501,170)		$ (189,113)	(1,492,059)	$ (478,057)
Impact of error correction on income from operations	$ (2,736,725)		$ (2,638,219)	$ (6,703,049)	$ (13,462,515)
Impact of error correction on earnings per share (in dollars per share) | $ / shares	$ (0.05)		$ (0.18)	$ (0.15)	$ (1.30)
Common stock equivalents that would have a dilutive effect on earnings (loss) per share (in shares) | shares				0		0
Number of reportable segments | segment				1
Accounting Standards Update 2015-03 | Long-term Debt
Real Estate Properties [Line Items]
Net debt issuance costs							$ 3,600,000
Accounting Standards Update 2015-03 | Deferred finance costs
Real Estate Properties [Line Items]
Net debt issuance costs							$ (3,600,000)
Cumulative Impact of Error Correction
Real Estate Properties [Line Items]
Impact of error correction on equity		$ 5,600,000
Impact of error correction on Due to affiliates		5,300,000
Impact of error correction on general and administrative expense		200,000
Impact of error correction on income from operations		$ 200,000
Impact of error correction on earnings per share (in dollars per share) | $ / shares		$ 0
Class T
Real Estate Properties [Line Items]
Organizational and offering costs advanced by and due to the Advisor (percent)								1.00%
Dealer manager fee percentage of servicing free re-allowed to broker-dealer (percent)				100.00%
Dealer Manager Agreement | Class T
Real Estate Properties [Line Items]
Daily accrual rate for Class T shares sold (percent)				0.00274%

Real Estate - Narrative (Detail

Real Estate - Narrative (Details) ft² in Millions	Nov. 02, 2015USD ($)	Dec. 31, 2015	Sep. 30, 2016USD ($)ft²statePropertybuilding	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)ft²statePropertybuilding	Dec. 31, 2015
Real Estate Properties [Line Items]
Number of properties (property) | Property			21		21
Number of buildings (building) | building			28		28
Number of states (state) | state			14		14
Aggregate purchase price of acquired properties			$ 745,000,000		$ 745,000,000
Area of real estate property (in sqft) | ft²			4.5		4.5
Depreciation of building			$ 7,700,745	$ 2,692,040
Amortization expense			11,200,000
Rental income from acquisitions			$ 5,200,000
Total acquisition fee	3.85%				3.85%
Advisory fee, base rate		2.00%	2.00%		2.00%
Estimate of acquisition value (percent)			1.00%
Advisory fee, contingent percentage	1.85%				1.85%
Amount retained subject to conditions	$ 5,000,000		$ 5,000,000		$ 5,000,000
Amortization period for intangible assets			8 years 9 months 20 days			8 years 10 months 24 days
Minimum
Real Estate Properties [Line Items]
As-if-vacant valuation, discount rate (percent)			7.00%
Maximum
Real Estate Properties [Line Items]
As-if-vacant valuation, discount rate (percent)			8.50%

Real Estate - Real Estate Portf

Real Estate - Real Estate Portfolio (Details)	9 Months Ended
	Sep. 30, 2016USD ($)ft²
Real Estate Properties [Line Items]
Purchase Price	$ 745,000,000
Square Feet (in sqft) | ft²	4,500,000
Toshiba Tec Property
Real Estate Properties [Line Items]
Purchase Price	$ 35,800,748
Square Feet (in sqft) | ft²	200,800
Acquisition fees and reimbursable expenses	$ 870,409
Contingent advisor payment	0
Netgear [Member]
Real Estate Properties [Line Items]
Purchase Price	$ 44,000,000
Square Feet (in sqft) | ft²	142,700
Acquisition fees and reimbursable expenses	$ 1,000,411
Contingent advisor payment	197,780
Nike [Member]
Real Estate Properties [Line Items]
Purchase Price	$ 45,500,000
Square Feet (in sqft) | ft²	266,800
Acquisition fees and reimbursable expenses	$ 1,139,376
Contingent advisor payment	841,750
Zebra Technologies [Member]
Real Estate Properties [Line Items]
Purchase Price	$ 60,150,000
Square Feet (in sqft) | ft²	283,300
Acquisition fees and reimbursable expenses	$ 1,346,120
Contingent advisor payment	1,112,775
WABCO [Member]
Real Estate Properties [Line Items]
Purchase Price	$ 13,834,500
Square Feet (in sqft) | ft²	145,200
Acquisition fees and reimbursable expenses	$ 456,905
Contingent advisor payment	255,938
IGT [Member]
Real Estate Properties [Line Items]
Purchase Price	$ 66,500,000
Square Feet (in sqft) | ft²	222,300
Acquisition fees and reimbursable expenses	$ 1,521,553
Contingent advisor payment	$ 1,230,250

Real Estate - Purchase Price Al

Real Estate - Purchase Price Allocation (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Summary of purchase price allocation
Land	$ 96,937,781	$ 53,229,574
Building and Improvements	531,529,150	353,083,087
Tenant Origination and Absorption Cost	170,910,229	110,652,188
In-Place Lease Valuation Above Market	326,000	$ 0
Toshiba Tec Property
Summary of purchase price allocation
Land	4,130,000
Building and Improvements	28,640,000
Tenant Origination and Absorption Cost	8,180,748
In-Place Lease Valuation Above Market	0
In-Place Lease Valuation (Below) Market	(5,150,000)
Total	35,800,748
Netgear [Member]
Summary of purchase price allocation
Land	20,725,500
Building and Improvements	17,656,000
Tenant Origination and Absorption Cost	8,230,500
In-Place Lease Valuation Above Market	0
In-Place Lease Valuation (Below) Market	(2,612,000)
Total	44,000,000
Nike [Member]
Summary of purchase price allocation
Land	5,988,000
Building and Improvements	32,535,000
Tenant Origination and Absorption Cost	9,862,000
In-Place Lease Valuation Above Market	0
In-Place Lease Valuation (Below) Market	(2,885,000)
Total	45,500,000
Zebra Technologies [Member]
Summary of purchase price allocation
Land	5,238,441
Building and Improvements	35,939,000
Tenant Origination and Absorption Cost	20,586,559
In-Place Lease Valuation Above Market	326,000
In-Place Lease Valuation (Below) Market	(1,940,000)
Total	60,150,000
WABCO [Member]
Summary of purchase price allocation
Land	1,301,500
Building and Improvements	10,823,000
Tenant Origination and Absorption Cost	1,775,000
In-Place Lease Valuation Above Market	0
In-Place Lease Valuation (Below) Market	(65,000)
Total	13,834,500
IGT [Member]
Summary of purchase price allocation
Land	6,324,766
Building and Improvements	52,818,000
Tenant Origination and Absorption Cost	11,623,234
In-Place Lease Valuation Above Market	0
In-Place Lease Valuation (Below) Market	(4,266,000)
Total	$ 66,500,000

Real Estate - Pro Forma Operati

Real Estate - Pro Forma Operating Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of pro forma financial information
Revenue	$ 18,632,938	$ 17,257,323	$ 55,543,077	$ 32,842,868
Net (loss) income	1,523,815	2,561,058	3,626,282	3,797,764
Net (loss) income attributable to noncontrolling interests	534	2,925	1,604	7,186
Net (loss) income attributable to common stockholders	$ 1,523,281	$ 1,933,386	$ 3,624,678	$ 3,144,636
Net (loss) income to common stockholders per share, basic and diluted (in dollars per share)	$ 0.03	$ 0.11	$ 0.08	$ 0.30

Real Estate - Future Minimum Co

Real Estate - Future Minimum Contractual Rent Payments (Details)	Sep. 30, 2016USD ($)
Schedule of future minimum net rent payments
Remaining 2,016	$ 12,990,074
2,017	48,076,879
2,018	52,940,065
2,019	54,125,860
2,020	55,274,579
Thereafter	271,265,567
Total	$ 494,673,024

Real Estate - In-Place Lease Va

Real Estate - In-Place Lease Valuation and Tenant Origination and Absorption Costs (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Above Market Lease [Abstract]
In-place lease valuation (above market)	$ 326,000	$ 0
In-place lease valuation (above market), accumulated amortization	(93,935)	0
In-place lease valuation (above market), net	232,065	0
Below Market Lease, Net [Abstract]
In-place lease valuation (below market)	(54,038,561)	(37,120,561)
In-place lease valuation (below market) - accumulated amortization	4,606,268	1,858,029
In-place lease valuation (below market), net	(49,432,293)	(35,262,532)
Tenant Origination and Absorption Cost
Finite-Lived Intangible Assets, Net [Abstract]
Tenant origination and absorption cost	170,910,229	110,652,188
Tenant origination and absorption cost - accumulated amortization	(18,354,536)	(7,145,094)
Tenant origination and absorption cost, net	$ 152,555,693	$ 103,507,094

Real Estate - Amortization of I

Real Estate - Amortization of Intangible Assets and Other Leasing Costs (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Schedule of amortization expense
Amortization of above and below market leases	$ (2,654,304)	$ (1,091,830)
Tenant origination and absorption cost	$ 11,209,442	$ 3,952,616

Real Estate - Estimated Annual

Real Estate - Estimated Annual Amortization (Income) Expense for In-Place Lease (Details)	Sep. 30, 2016USD ($)
Below Market Lease, Amortization Income, Maturity Schedule [Abstract]
Remaining 2,016	$ (986,000)
2,017	(4,580,000)
2,018	(4,706,000)
2,019	(4,706,000)
2,020	(4,706,000)
Tenant Origination and Absorption Cost
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remaining 2,016	4,739,000
2,017	19,382,000
2,018	19,467,000
2,019	19,467,000
2,020	$ 19,467,000

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Oct. 22, 2015	Dec. 12, 2014	Sep. 30, 2016	Dec. 31, 2015	Feb. 25, 2016
Debt Instrument [Line Items]
Total debt			$ 225,376,320	$ 261,953,974
Term to determine contractual rate				360 days
Weighted average interest rate (percent)			3.38%
Term to determine weighted average interest rate			365 days
Term of loan		4 years
Revolving credit facility, extension term		1 year
Interest Rate Swap
Debt Instrument [Line Items]
Notional amount			$ 100,000,000	$ 0	$ 100,000,000
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Base rate (percent)			0.53%
Line of Credit | Key Bank Credit Facility
Debt Instrument [Line Items]
Book Value as of September 30, 2016			$ 101,457,720	138,557,720
Contractual interest rate			2.18%
Effective interest rate (percent)			2.88%
Weighted average interest rate (percent)			2.21%
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)			1.65%
Notes Payable, Other Payables | AIG Loan
Debt Instrument [Line Items]
Book Value as of September 30, 2016			$ 126,970,000	126,970,000
Unamortized deferred financing costs			$ (3,051,400)	$ (3,573,746)
Total debt	$ 127,000,000
Contractual interest rate	4.15%		4.15%
Effective interest rate (percent)			4.23%
Term of loan	10 years
Duration monthly payments of interest only	5 years		5 years

Debt - Narrative (Details)

Debt - Narrative (Details)	Oct. 22, 2015USD ($)entity	Dec. 12, 2014USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Aug. 11, 2015USD ($)
Debt Instrument [Line Items]
Term of loan		4 years
Revolving credit facility, extension term		1 year
Number of wholly owned SPE | entity	6
Long-term debt			$ 225,376,320	$ 261,953,974
Term to determine contractual rate				360 days
AIG Loan | Notes Payable, Other Payables
Debt Instrument [Line Items]
Term of loan	10 years
Long-term debt	$ 127,000,000
Contractual interest rate	4.15%		4.15%
Duration monthly payments of interest only	5 years		5 years
Revolving Credit Facility | Key Bank Credit Facility
Debt Instrument [Line Items]
Revolving credit facility current borrowing capacity		$ 250,000,000			$ 410,000,000
Revolving credit facility, maximum borrowing capacity		$ 1,250,000,000
Collateral (percent)		100.00%
Revolving Credit Facility | Key Bank Credit Facility | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		0.50%

Interest Rate Contracts - Narra

Interest Rate Contracts - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Feb. 25, 2016	Dec. 31, 2015
Derivative [Line Items]
Loss expected to be reclassified in next 12 months	$ 100,000
Collateral posted	0
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 100,000,000	$ 100,000,000	$ 0
Fair value of derivative instrument			$ 0

Interest Rate Contracts - Swap

Interest Rate Contracts - Swap Details (Details) - Interest Rate Swap - USD ($)	Sep. 30, 2016	Feb. 25, 2016	Dec. 31, 2015
Derivative [Line Items]
Fixed rate on derivative	0.74%
Fair value of derivative instrument			$ 0
Notional amount	$ 100,000,000	$ 100,000,000	$ 0

Interest Rate Contracts - Impac

Interest Rate Contracts - Impact of Interest Rate Swap on Consolidated Statements of Operation (Details) - Interest Rate Swap - Cash Flow Hedging - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (loss) gain recognized in AOCL on derivatives (effective portion)	$ 220,293	$ (183,946)
Amount of (loss) gain reclassified from AOCL into earnings under “Interest expense” (effective portion)	(60,778)	(134,312)
Amount of (loss) gain recognized in earnings under “Interest expense” (ineffective portion and amount excluded from effectiveness testing)	$ 167,937	$ 167,937

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value (Details) - Recurring - Interest Rate Swap	Sep. 30, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 118,303
Quoted Prices in Active Markets for Identical Assets and Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0
Significant Other Observable Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	118,303
Significant Unobservable Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Level 1 to level 2, assets	$ 0	$ 0
Level 2 to level 1, assets	0	0
Level 3 in, assets	0	0
Level 3 out, assets	0	0
Level 1 to level 2, liabilities	0	0
Level 2 to level 1, liabilities	0	0
Level 3 in, liabilities	0	0
Level 3 out, liabilities	$ 0	$ 0

Accrued Expenses and Other Li47

Accrued Expenses and Other Liabilities (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Prepaid rent	$ 8,993,279	$ 2,382,913
Tenant improvement allowance	4,837,685	74,951
Real estate taxes payable	2,336,200	1,118,866
Other liabilities	3,727,307	3,539,464
Accrued expenses and other liabilities	$ 19,894,471	$ 7,116,194

Equity - Narrative (Details)

Equity - Narrative (Details)	2 Months Ended	9 Months Ended	11 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2016USD ($)voteshares	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)shares	Jun. 30, 2016USD ($)	May 09, 2016$ / shares	Apr. 25, 2016USD ($)$ / shares	Nov. 02, 2015USD ($)	Oct. 30, 2015USD ($)	Dec. 05, 2014USD ($)	Jul. 31, 2014USD ($)
Class of Stock [Line Items]
Common stock equivalents that would have a dilutive effect on earnings (loss) per share (in shares) | shares		0		0
Offering amount in sales of shares											$ 2,200,000,000
Percent of costs that are not reimbursed by the offering (percent)		1.00%	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 (percent)	1.40%	3.20%
Organizational costs as a percentage of gross offering proceeds (percent)	10.50%	10.60%
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%
Share Redemption Program
Class of Stock [Line Items]
Minimum holding period for redemption of stock		1 year
Minimum redemption percentage		25.00%
Maximum redemption percentage of weighted average shares outstanding (percent)		5.00%
IPO
Class of Stock [Line Items]
Offering amount in sales of shares											$ 2,000,000,000
Distribution Reinvestment Plan
Class of Stock [Line Items]
Price per partnership unit (in USD per share) | $ / shares						$ 9.50
Summary of Redemption Price Per Share [Abstract]
Value of shares tendered for redemption		$ 200,000	$ 200,000		$ 1,200,000
Class T
Class of Stock [Line Items]
Gross proceeds received to date of shares issued										$ 0
Number of votes (in votes) | vote		1
Class T | IPO
Class of Stock [Line Items]
Offering amount in sales of shares							$ 1,560,000,000	$ 1,800,000,000
Gross proceeds received to date of shares issued		$ 357,574,012	357,574,012
Class T | Distribution Reinvestment Plan
Class of Stock [Line Items]
Gross proceeds received to date of shares issued		$ 4,512,631	4,512,631
Class A
Class of Stock [Line Items]
Gross proceeds received to date of shares issued									$ 240,800,000
Number of votes (in votes) | vote		1
Class A | IPO
Class of Stock [Line Items]
Gross proceeds received to date of shares issued		$ 240,779,591	240,779,591
Class A | Distribution Reinvestment Plan
Class of Stock [Line Items]
Gross proceeds received to date of shares issued		$ 10,263,557	10,263,557
Class I
Class of Stock [Line Items]
Number of votes (in votes) | vote		1
Class I | IPO
Class of Stock [Line Items]
Offering amount in sales of shares							$ 200,000,000
Gross proceeds received to date of shares issued		$ 5,302,188	5,302,188
Price per partnership unit (in USD per share) | $ / shares							$ 9.30
Class I | Distribution Reinvestment Plan
Class of Stock [Line Items]
Gross proceeds received to date of shares issued		24,363	24,363
Common Stock Subject to Mandatory Redemption
Summary of Redemption Price Per Share [Abstract]
Common stock subject to redemption	$ 4,566,044	$ 13,173,779	$ 13,173,779	$ 4,566,044

Equity - Shares Issued and Gros

Equity - Shares Issued and Gross Proceeds (Details) - USD ($)	Sep. 30, 2016	Oct. 30, 2015	Dec. 05, 2014
Class A
Class of Stock [Line Items]
Gross proceeds received to date of shares issued		$ 240,800,000
Common stock, number of shares issued (in shares)	25,420,003
Class T
Class of Stock [Line Items]
Gross proceeds received to date of shares issued			$ 0
Common stock, number of shares issued (in shares)	36,380,745
Class I
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	573,171
IPO | Class A
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 240,779,591
Common stock, number of shares issued (in shares)	24,199,760
IPO | Class T
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 357,574,012
Common stock, number of shares issued (in shares)	35,830,637
IPO | Class I
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 5,302,188
Common stock, number of shares issued (in shares)	570,134
Distribution Reinvestment Plan | Class A
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 10,263,557
Common stock, number of shares issued (in shares)	1,080,374
Distribution Reinvestment Plan | Class T
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 4,512,631
Common stock, number of shares issued (in shares)	475,014
Distribution Reinvestment Plan | Class I
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 24,363
Common stock, number of shares issued (in shares)	2,565
Share Distribution | Class A
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	139,869
Share Distribution | Class T
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	75,094
Share Distribution | Class I
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	472

Equity - Organizational Costs (

Equity - Organizational Costs (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Cumulative offering costs	$ 63,427,686	$ 28,668,982
Cumulative organizational costs	713,769	517,841
Organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback	3,680,398	3,534,806
Less payments	(3,680,398)	(3,073,206)
Net organizational and offering costs advanced by the Advisor, excluding Contingent Advisor Payment Holdback(1)	0	461,600
Due to affiliates	20,738,517	2,323,696
Net organizational and offering costs and Dealer Manager fees advanced by the Advisor	5,612,825	1,608,542
Organizational and offering costs advanced by the Advisor
Related Party Transaction [Line Items]
Due to affiliates	2,041,942	382,314
Dealer Manager fees advanced by the Advisor
Related Party Transaction [Line Items]
Due to affiliates	$ 3,570,883	$ 764,628

Noncontrolling Interests - Narr

Noncontrolling Interests - Narrative (Details) - Operating Partnership - $ / shares	9 Months Ended
	Sep. 30, 2016	Feb. 11, 2014
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners (percent)	0.03%
Ownership percentage by noncontrolling owners based on weighted average shares outstanding (percent)	0.04%
Limited Partner
Noncontrolling Interest [Line Items]
Limited partnership units issued (in shares)		20,000
Price per partnership unit (in USD per share)		$ 10
Period of unit outstanding	1 year
Partnership unit exchange (in shares)	1

Noncontrolling Interests - Sche

Noncontrolling Interests - Schedule of Noncontrolling Interests (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	$ 97,189	$ 139,041
Distributions to noncontrolling interest	(8,235)	(11,000)
Net loss	(6,703,049)	(17,278,456)
Other comprehensive loss	(49,634)
Ending balance	86,011	97,189
Non- controlling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Distributions to noncontrolling interest	(8,235)	(11,000)
Net loss	(2,894)	(30,852)
Other comprehensive loss	$ (49)	$ 0

Related Party Transactions - Sc

Related Party Transactions - Schedule of Transactions (Details) - USD ($)	Nov. 02, 2015	Dec. 31, 2015	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2016
Due to Related Parties [Roll Forward]
Beginning of Period				$ 2,323,696
Incurred				48,027,129
Paid				29,612,308
End of Period		$ 2,323,696	$ 20,738,517	$ 20,738,517	$ 20,738,517
Organizational and offering costs advanced by and due to the Advisor (percent)	4.00%		4.00%	4.00%	4.00%
Percent of costs that are not reimbursed by the offering (percent)				1.00%	1.00%
Total acquisition fee	3.85%				3.85%
Advisory fee, base rate		2.00%		2.00%	2.00%
Advisory fee, contingent percentage	1.85%				1.85%
Amount retained subject to conditions	$ 5,000,000		$ 5,000,000	$ 5,000,000	$ 5,000,000
Acquisition fees and expenses
Due to Related Parties [Roll Forward]
Beginning of Period				8,675
Incurred				6,323,670
Paid				6,332,345
End of Period		$ 8,675	0	0	0
Operating expenses
Due to Related Parties [Roll Forward]
Beginning of Period				108,538
Incurred				1,517,029
Paid				876,305
End of Period		108,538	749,262	749,262	749,262
Asset management fees
Due to Related Parties [Roll Forward]
Beginning of Period				400,120
Incurred				4,259,380
Paid				4,041,041
End of Period		400,120	618,459	618,459	618,459
Property management fees
Due to Related Parties [Roll Forward]
Beginning of Period				94,528
Incurred				659,436
Paid				668,084
End of Period		94,528	85,880	85,880	85,880
Organizational expenses
Due to Related Parties [Roll Forward]
Beginning of Period				2,383
Incurred				0
Paid				2,383
End of Period		2,383	0	0	0
Offering expenses
Due to Related Parties [Roll Forward]
Beginning of Period				459,216
Incurred				26,371
Paid				485,587
End of Period		459,216	0	0	0
Other costs advanced by the Advisor
Due to Related Parties [Roll Forward]
Beginning of Period				23,029
Incurred				68,405
Paid				78,727
End of Period		23,029	12,707	12,707	12,707
Stockholder servicing fee payable
Due to Related Parties [Roll Forward]
Beginning of Period				24,968
Incurred				14,280,836
Paid				699,818
End of Period		24,968	13,605,986	13,605,986	13,605,986
Organizational and offering costs advanced by the Advisor
Due to Related Parties [Roll Forward]
Beginning of Period				382,314
Incurred				2,266,819
Paid				607,191
End of Period		382,314	2,041,942	2,041,942	2,041,942
Dealer Manager fees advanced by the Advisor
Due to Related Parties [Roll Forward]
Beginning of Period				764,628
Incurred				6,444,748
Paid				3,638,493
End of Period		764,628	$ 3,570,883	3,570,883	3,570,883
Class T
Due to Related Parties [Roll Forward]
Organizational and offering costs advanced by and due to the Advisor (percent)	1.00%
Sales commission on stock offering	3.00%		3.00%
Dealer manager fee percentage on stock offering	3.00%		3.00%
Percent of dealer manager fees funded by company	1.00%		1.00%
Percent of dealer manager fees funded by advisor	2.00%		2.00%
Class T | Sales commissions
Due to Related Parties [Roll Forward]
Beginning of Period				40,421
Incurred				9,042,878
Paid				9,045,145
End of Period		40,421	$ 38,154	38,154	38,154
Class T | Dealer Manager fees
Due to Related Parties [Roll Forward]
Beginning of Period				14,876
Incurred				3,137,557
Paid				3,137,189
End of Period		$ 14,876	$ 15,244	$ 15,244	$ 15,244

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)	Nov. 02, 2015USD ($)	Dec. 31, 2015	Sep. 30, 2016USD ($)shares	Sep. 30, 2016USD ($)shares	Sep. 30, 2016USD ($)programshares	Oct. 30, 2015	Sep. 30, 2016USD ($)shares	Dec. 31, 2015
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 (percent)					1.00%		1.00%
Total acquisition fee	3.85%						3.85%
Advisory fee, base rate		2.00%			2.00%		2.00%
Advisory fee, contingent percentage	1.85%						1.85%
Amount retained subject to conditions	$ 5,000,000		$ 5,000,000	$ 5,000,000	$ 5,000,000		$ 5,000,000
Average invested assets for preceding 12 months (percent)					2.00%
Percentage of Company's net income before addition of reserves (percent)					25.00%
Incurred					$ 48,027,129
Organizational and offering costs advanced by and due to the Advisor (percent)	4.00%		4.00%	4.00%	4.00%		4.00%
Gross revenue percentage					1.00%
Property management fees percentage					3.00%
Construction management fee percentage								5.00%
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	10,000,000		10,000,000
Shares reserve for issuance (in shares) | shares			6,222,636.7	6,222,636.7	6,222,636.7		6,222,636.7
Awards granted (in shares) | shares					0
Number of real estate programs (program) | program					10
Class T
Related Party Transaction [Line Items]
Sales commission on stock offering	3.00%			3.00%
Dealer manager fee percentage on stock offering	3.00%			3.00%
Percent of dealer manager fees funded by company	1.00%			1.00%
Percent of dealer manager fees funded by advisor	2.00%			2.00%
Organizational and offering costs advanced by and due to the Advisor (percent)	1.00%
Underwriting compensation, percent of gross proceeds	10.00%
Advisory Agreement
Related Party Transaction [Line Items]
Asset management fee percentage of average invested assets					1.00%
Dealer Manager Agreement
Related Party Transaction [Line Items]
Dealer manager fee percentage						3.00%
Dealer Manager Agreement | Class A
Related Party Transaction [Line Items]
Sales commissions percentage						7.00%
Dealer Manager Agreement | Class T
Related Party Transaction [Line Items]
Daily accrual rate for Class T shares sold (percent)					0.00274%
Reimbursement, Services Provided That Are not Entitled to Advisor Fees | Griffin Capital Essential Asset Advisor, LLC
Related Party Transaction [Line Items]
Incurred			$ 20,000		$ 100,000
Reimbursement, Reimbursible Expenses | Griffin Capital Essential Asset Advisor, LLC
Related Party Transaction [Line Items]
Incurred			$ 100,000		$ 300,000

Declaration of Distributions -

Declaration of Distributions - Narrative (Details) - $ / shares	Sep. 14, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Declaration of Distributions [Abstract]
Dividends paid (in USD per share)		$ 0.0015027322
Stock dividend (in shares)		0.000013661
Dividends declared (usd per share)	$ 0.0015027322	$ 0.14	$ 0.14	$ 0.42	$ 0.41
Stock dividend declared (in shares)	0.0000136612

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details)	Nov. 11, 2016USD ($)shares	Oct. 25, 2016USD ($)ft²a	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Nov. 07, 2016USD ($)shares
Subsequent Event [Line Items]
Issuance of shares for distribution reinvestment plan			$ 10,212,324	$ 2,596,801
Subsequent Event | 3M Property
Subsequent Event [Line Items]
Net rentable area of real estate acquired | ft²		978,120
Area of real estate location | a		49.71
Purchase price (including closing costs)		$ 69,400,000
Subsequent Event | Class A
Subsequent Event [Line Items]
Received and accepted subscription in Offering (in shares) | shares					63,822,234
Value of received and accepted subscriptions					$ 635,609,527
Issuance of shares for distribution reinvestment plan	$ 16,399,024
Issuance of shares for distribution reinvestment plan (shares) | shares	1,726,214