Peakstone Realty Trust (PKST) 10-Q 9 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 07, 2018
Class of Stock [Line Items]
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, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Class T
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		226,811
Class S
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		278
Class D
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		19,214
Class I
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		804,562
Class A
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		25,845,044
Class AA
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		49,961,835
Class AAA
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		991,562

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents		$ 33,786	$ 33,164
Restricted cash		14,642	12,886
Real estate:
Land		122,482	122,482
Building and improvements		819,079	815,721
Tenant origination and absorption cost		240,364	240,364
Construction in progress		132	299
Total real estate		1,182,057	1,178,866
Less: accumulated depreciation and amortization		(117,288)	(83,905)
Total real estate, net		1,064,769	1,094,961
Intangible assets, net		3,016	3,294
Due from affiliates		1,128	686
Deferred rent		29,851	22,733
Other assets, net		6,862	12,224
Total assets		1,154,054	1,179,948
LIABILITIES AND EQUITY
Total debt		481,573	481,848
Restricted reserves		13,310	13,368
Distributions payable		1,772	1,689
Due to affiliates		18,988	16,896
Below market leases, net		47,506	51,295
Accrued expenses and other liabilities		21,765	19,903
Total liabilities		584,914	584,999
Commitments and contingencies
Common stock subject to redemption		37,401	32,405
Stockholders' equity:
Common Stock, $0.001 par value - Authorized:800,000,000; 77,760,266 and 77,175,283 shares outstanding in the aggregate, as of September 30, 2018 and December 31, 2017, respectively	[1]	77	76
Additional paid-in capital		657,756	656,705
Cumulative distributions		(114,510)	(82,590)
Accumulated deficit		(13,102)	(12,672)
Accumulated other comprehensive income		310	949
Total stockholders' equity		530,531	562,468
Noncontrolling interests		1,208	76
Total equity		531,739	562,544
Total liabilities and equity		$ 1,154,054	$ 1,179,948
[1]	See Note 8, Equity, for the number of shares outstanding of each class of common stock as of September 30, 2018 and December 31, 2017.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Common stock, number of shares outstanding (in shares)	77,660,266	77,175,283
Common Stock
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, number of shares authorized (in shares)	800,000,000	800,000,000
Common stock, number of shares outstanding (in shares)	77,760,266	77,175,283

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Rental income	$ 21,928	$ 22,926	$ 65,854	$ 67,211
Property expense recovery	4,785	4,423	13,945	12,671
Total revenue	26,713	27,349	79,799	79,882
Expenses:
Property operating	1,866	1,787	5,598	4,886
Property tax	2,449	2,511	7,521	7,244
Property management fees to affiliates	456	452	1,365	1,347
Asset management fees to affiliates	0	2,485	0	8,026
Advisory fees to affiliates	2,346	273	6,970	273
Performance distribution allocation to affiliates	2,084	213	6,200	213
General and administrative	775	831	2,446	2,736
Corporate operating expenses to affiliates	806	566	2,168	1,679
Depreciation and amortization	11,252	11,236	33,383	32,710
Total expenses	22,034	20,354	65,651	59,114
Income before other income (expenses)	4,679	6,995	14,148	20,768
Other income (expense):
Interest expense	(5,464)	(3,997)	(14,775)	(11,445)
Other income, net	28	101	196	265
Net (loss) income	(757)	3,099	(431)	9,588
Net loss (income) attributable to noncontrolling interests	1	(1)	1	(3)
Net (loss) income attributable to common stockholders	$ (756)	$ 3,098	$ (430)	$ 9,585
Net (loss) income attributable to common stockholders, basic and diluted (usd per share)	$ (0.01)	$ 0.04	$ (0.01)	$ 0.13
Weighted average number of common shares outstanding, basic and diluted (shares)	78,034,852	76,157,963	77,594,234	75,441,620
Dividends declared per common share (usd per share)	$ 0.14	$ 0.14	$ 0.42	$ 0.42

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (757)	$ 3,099	$ (431)	$ 9,588
Other comprehensive (loss) income:
Change in fair value of swap agreement	(348)	(87)	(641)	(17)
Total comprehensive (loss) income	(1,105)	3,012	(1,072)	9,571
Comprehensive loss (income) attributable to noncontrolling interests	2	(1)	3	(3)
Comprehensive (loss) income attributable to common stockholders	$ (1,103)	$ 3,011	$ (1,069)	$ 9,568

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Cumulative Distributions	Accumulated Deficit	Accumulated Other Comprehensive Income	Total Stockholders’ Equity	Non- controlling Interests
Beginning balance at Dec. 31, 2016	$ 554,455	$ 71	$ 615,653	$ (38,406)	$ (23,788)	$ 841	$ 554,371	$ 84
Beginning balance (shares) at Dec. 31, 2016		70,939,647
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Gross proceeds from issuance of common stock	41,826	$ 4	41,822				41,826
Gross proceeds from issuance of common stock (shares)		4,205,673
Discount on issuance of common stock	(16)		(16)				(16)
Stock-based compensation	292		292				292
Stock-based compensation (in shares)		25,500
Offering costs including dealer manager fees and stockholder servicing fees to affiliates	(3,593)		(3,593)				(3,593)
Distributions to common stockholders	(19,427)			(19,427)			(19,427)
Issuance of shares for distribution reinvestment plan		$ 2	22,206	(22,208)
Issuance of shares for distribution reinvestment plan (shares)		2,358,188
Repurchase of common stock	(5,742)	$ (1)	(5,741)				(5,742)
Repurchase of common stock (in shares)		(623,499)
Additions to common stock subject to redemption	(16,467)		(16,467)				(16,467)
Issuance of stock dividends	0	$ 0	2,549	(2,549)
Issuance of stock dividends (in shares)		269,774
Operating partnership units issued								0
Distributions to noncontrolling interest	(11)							(11)
Net (loss)	11,119				11,116		11,116	3
Other comprehensive loss	108					108	108
Ending balance at Dec. 31, 2017	$ 562,544	$ 76	656,705	(82,590)	(12,672)	949	562,468	76
Ending balance (shares) at Dec. 31, 2017	77,175,283	77,175,283
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Gross proceeds from issuance of common stock	$ 7,430	$ 1	7,429				7,430
Changes in redeemable common stock	(5,292)		(5,292)				(5,292)
Gross proceeds from issuance of common stock (shares)		762,537
Discount on issuance of common stock	(1)		(1)				(1)
Stock-based compensation	44		44				44
Stock-based compensation (in shares)		10,500
Offering costs including dealer manager fees and stockholder servicing fees to affiliates	(1,129)		(1,129)				(1,129)
Distributions to common stockholders	(15,498)			(15,498)			(15,498)
Issuance of shares for distribution reinvestment plan	16,422	$ 2	16,420	(16,422)
Issuance of shares for distribution reinvestment plan (shares)		1,712,265
Repurchase of common stock	(18,900)	$ (2)	(18,898)				(18,900)
Repurchase of common stock (in shares)		(2,000,321)
Additions to common stock subject to redemption	2,478		2,478				2,478
Issuance of stock dividends (in shares)		2
Operating partnership units issued	1,185							1,185
Distributions to noncontrolling interest	(50)							(50)
Net (loss)	(431)				(430)		(430)	(1)
Other comprehensive loss	(641)					(639)	(639)	(2)
Ending balance at Sep. 30, 2018	$ 531,739	$ 77	$ 657,756	$ (114,510)	$ (13,102)	$ 310	$ 530,531	$ 1,208
Ending balance (shares) at Sep. 30, 2018	77,660,266	77,660,266

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Operating Activities:
Net (loss) income	$ (757)	$ 3,099	$ (431)	$ 9,588
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation of building and improvements			15,284	15,053
Amortization of tenant origination and absorption costs			18,099	17,657
Amortization of above and below market leases			(3,511)	(3,389)
Amortization of deferred financing costs			981	826
Deferred rent			(7,118)	(13,227)
Stock based compensation			44	267
Unrealized loss on interest rate swap			77	60
Performance distribution allocation (non-cash)			3,607	0
Change in operating assets and liabilities:
Other assets, net			1,714	3,730
Accrued expenses and other liabilities, net			4,197	(629)
Due to affiliates, net			1,749	1,345
Net cash provided by operating activities			34,692	31,281
Investing Activities:
Acquisition of properties, net			0	(44,234)
Restricted reserves			(58)	(20,251)
Payments for construction in progress			(440)	(407)
Real estate acquisition deposits			0	250
Net cash used in investing activities			(498)	(64,642)
Financing Activities:
Proceeds from borrowings - Credit Facility			0	14,300
Proceeds from borrowings - BofA/KeyBank Loan			250,000	0
Proceeds from borrowings - Term Loan			113,000	0
Principal payoff of indebtedness - Credit Facility			(357,673)	0
Deferred financing costs			(6,583)	(30)
Issuance of common stock			7,465	38,923
Offering costs			(3,660)	(6,695)
Repurchase of common stock			(18,900)	(3,798)
Distributions paid to common stockholders			(15,420)	(14,318)
Distributions paid to noncontrolling interests			(45)	(8)
Net cash (used in) provided by financing activities			(31,816)	28,374
Net increase (decrease) in cash, cash equivalents and restricted cash			2,378	(4,987)
Cash, cash equivalents and restricted cash at the beginning of the period			46,050	63,561	$ 63,561
Cash, cash equivalents and restricted cash at the end of the period	48,428	58,574	48,428	58,574	$ 46,050
Supplemental Disclosures of Significant Non-Cash Transactions:
Reclassification from escrow account receivables to building and improvements			2,905	0
Decrease in fair value swap agreement	$ (348)	$ (87)	(641)	(17)
Increase in Stockholder Servicing Fee Payable			174	564
Increase in distribution payable to common stockholders			77	118
Common stock issued pursuant to the distribution reinvestment plan			$ 16,422	$ 16,546

Organization

Organization	9 Months Ended
	Sep. 30, 2018
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”) commencing with the year ended 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 has used a substantial amount of the net proceeds from its initial public offering ("IPO") to invest in such properties. The Company’s year end is December 31. Griffin Capital Company, LLC, a Delaware limited liability company (the “Sponsor”), is the sponsor of the Company. The Sponsor, which was formerly known as Griffin Capital Corporation, began operations in 1995 to engage principally 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. Griffin Capital Essential Asset Advisor II, LLC, a Delaware limited liability company (the “Advisor”), was formed on November 19, 2013. Griffin Capital Real Estate Company, LLC, a Delaware limited liability company ("GRECO"), is the sole member of the Advisor and Griffin Capital, LLC, a Delaware limited liability company ("GC"), is the sole member of GRECO. 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 below). The Company's officers are also officers of the Advisor and officers of the Sponsor. 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 offered pursuant to the Company's public offerings. 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 derives substantially all of its income from the property management services it performs 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 $0.2 million and on February 11, 2014, the Company contributed the initial one thousand dollars 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, 2018 . In 2014, the Company registered $2.2 billion in common shares in its IPO, consisting of $2.0 billion in common shares to be offered to the public in the primary portion of the IPO and $200.0 million in common shares for sale pursuant to the Company's 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 primary portion of the IPO effective January 20, 2017; however, the Company continued to offer shares pursuant to the DRP under the Company's IPO registration statement through May 2017. On April 6, 2017, the Company filed a Registration Statement on Form S-3 with the Securities and Exchange Commission ("SEC") for the registration of 3.0 million shares for sale pursuant to the DRP. The DRP may be terminated at any time upon 10 days’ prior written notice to stockholders, which may be provided through the Company's filings with the SEC. On September 20, 2017, the Company commenced a follow-on offering of up to $2.2 billion of shares (the "Follow-On Offering"), consisting of up to $2.0 billion of shares in the Company's primary offering and $0.2 billion of shares pursuant to the DRP. Pursuant to the Follow-On Offering, the Company offered to the public four new classes of shares of common stock: Class T shares, Class S shares, Class D shares and Class I shares (the “New Shares”) with net asset value (“NAV”) based pricing. The share classes have different selling commissions, dealer manager fees and ongoing distribution fees. In connection with the Follow-On Offering, the Company reclassified all Class T and Class I shares sold in the IPO as "Class AA" and "Class AAA" shares, respectively. On September 20, 2017, the Company entered into an amended and restated advisory agreement (the "Advisory Agreement") with the Advisor and the Operating Partnership, which replaced the original advisory agreement and modified various provisions including the fees and expense reimbursements payable to the Advisor. See Note 10, Related Party Transactions , for additional details. On September 20, 2017, the Company, as general partner of the Operating Partnership, entered into a Third Amended and Restated Limited Partnership Agreement of the Operating Partnership (the "Third Amended and Restated Operating Partnership Agreement") on behalf of itself and the limited partners. The Third Amended and Restated Operating Partnership Agreement is substantially similar to the Company's prior limited partnership agreement, except that it has been updated to reflect changes to the distributions and fees to which the Advisor is entitled, include additional classes of Operating Partnership units, and make other conforming changes. See Note 10, Related Party Transactions , for additional details. In connection with the Follow-On Offering, the Company's board of directors adopted an amended and restated DRP effective as of September 30, 2017 to include the New Shares under the DRP. In connection with the Follow-On Offering, the Company’s board of directors adopted a share redemption program for the New Shares (the “New Share Redemption Program”). Under this program, stockholders of the New Shares are allowed to redeem their shares after a one -year holding period at a redemption price equal to the NAV per share for the applicable class generally on the 13th of the month prior to quarter end. On March 30, 2018, the board of directors of the Company amended the IPO Share Redemption Program (as defined in Note 8, Equity ). The key change to the IPO Share Redemption Program is that after one year from the purchase date, a stockholder will be able to redeem at 100% of the NAV of the applicable share class. The amendment took effect on May 2, 2018. See Note 8, Equity , for additional details. On June 4, 2018, the board of directors of the Company approved the termination of the IPO Share Redemption Program, effective as of July 5, 2018. In addition, effective as of such date, the board of directors amended and restated the New Share Redemption Program in order to allow stockholders of the IPO shares to utilize the New Share Redemption Program. Accordingly, beginning in July 2018, stockholders of IPO shares will be able to continue to redeem at 100% of the NAV of the applicable share class, subject to the other limitations and conditions of the amended and restated New Share Redemption Program. On August 16, 2018, in connection with a potential strategic alternative the Company’s board of directors is contemplating, the board approved the temporary suspension of the primary portion of the Company's Follow-On Offering, effective August 17, 2018, to allow the special committee of the board to evaluate a potential strategic alternative. The board of directors intends to recommence the Follow-On Offering in the retail marketplace, if appropriate and at the appropriate time.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies 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, 2017 . 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, 2017 included in the Company’s Annual Report on Form 10-K filed with the SEC. The accompanying unaudited consolidated financial statements of the Company are prepared by management on the accrual basis of accounting and in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information as contained in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“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, which are, in the opinion of management, of a normal recurring nature and necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim period. Operating results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . 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, 2017 . The consolidated financial statements of the Company include all accounts of the Company, the Operating Partnership, and its subsidiaries. Intercompany transactions are not shown on the consolidated statements. However, each property owning entity is a wholly owned subsidiary which is a special purpose entity ("SPE"), which assets and credit are not available to satisfy the debts or obligations of any other entity, except to the extent required with respect to any co-borrower or guarantor under the same credit facility. 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 During the year ended December 31, 2017, the Company elected to early adopt Accounting Standards Update ("ASU") No. 2016-18, Restricted Cash ("ASU No. 2016-18"). As a result, the Company no longer presents transfers between cash and restricted cash in the consolidated statements of cash flows. Instead, restricted cash is included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the consolidated statements of cash flows. 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, 2018 and December 31, 2017 , there were no material common stock equivalents that would have a dilutive effect on earnings (loss) per share for common stockholders. 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 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging ("ASU No. 2017-12") . The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. For cash flow hedges that are highly effective, the new standard requires all changes (effective and ineffective components) in the fair value of the hedging instrument to be recorded in other comprehensive income and to be reclassified into earnings only when the hedged item impacts earnings. Current guidance requires a periodic recognition of hedge ineffectiveness in earnings. Under existing standards, a quantitative assessment is made on an ongoing basis to determine if a hedge is highly effective in offsetting changes in cash flows associated with the hedged item. Under the new standard, entities will still be required to perform an initial quantitative test. However, the new standard allows entities to elect to subsequently perform only a qualitative assessment unless facts and circumstances change. This ASU is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. The Company elected to early adopt ASU No. 2017-12 for the reporting period ending March 31, 2018. The adoption of ASU No. 2017-12 did not have a material effect on the Company's financial position or statement of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases ("ASU No. 2016-02"). ASU No. 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 No. 2016-02 will direct how the Company accounts for payments from the elements of leases that are generally fixed and determinable at the inception of the lease (“Fixed Lease Payments”) while ASU No. 2014-09 (defined below) will direct how the Company accounts for the non-lease components of lease contracts, primarily expense reimbursements (“Non-Lease Payments”) and the accounting for the disposition of real estate facilities. ASU No. 2016-02 will be effective beginning in the first quarter of 2019. Early adoption of ASU No. 2016-02 as of its issuance is permitted. ASU No. 2016-02 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. Based on the required adoption date of January 1, 2019, the modified retrospective method for ASU No. 2016-02 requires application of the standard to all leases that exist at, or commence after, January 1, 2017 (beginning of the earliest comparative period presented in the 2019 financial statements), with a cumulative adjustment to the opening balance of accumulated earnings (deficit) on January 1, 2017, for the effect of applying the standard at the date of initial application, and restatement of the amounts presented prior to January 1, 2019. The FASB has also issued an amendment to the standard that would provide an entity an optional transition method to initially account for the impact of the adoption of the standard with a cumulative adjustment to accumulated earnings (deficit) on January 1, 2019 (the effective date of ASU No. 2016-02), rather than January 1, 2017, which would eliminate the need to restate amounts presented prior to January 1, 2019. Under ASU No. 2016-02, an entity may elect a practical expedient package, which states that: (a) an entity need not reassess whether any expired or existing contracts are leases or contain leases; (b) an entity need not reassess the lease classification for any expired or existing leases; and (c) an entity need not reassess initial direct costs for any existing leases. These three practical expedients are available as a single election that must be elected as a package and must be consistently applied to all existing leases at the date of adoption. The FASB has also tentatively noted in May 2017 board meeting minutes that lessors that adopt this package of practical expedients are not expected to reassess expired or existing leases at the date of initial application, which is January 1, 2017 under ASU No. 2016-02, or January 1, 2019, if the Company elects the optional transition method. The FASB noted that the transition provisions generally enable entities to “run off” their existing leases for the remainder of the lease term, which would effectively eliminate the need to calculate adjustment to the opening balance of accumulated earnings (deficit). In March 2018, the FASB approved a proposal to the drafting of an amendment to the ASU to allow lessors to elect, as a practical expedient, not to allocate the total consideration to lease and non-lease components based on their relative standalone selling prices. If adopted, this single-lease component practical expedient will allow lessors to elect a combined single-lease component presentation if (i) the timing and pattern of transfer of the lease component and the non-lease component(s) associated with it are the same, and (ii) the lease component would be classified as an operating lease if it were accounted for separately. Non-lease components that do not meet the criteria of this practical expedient and combined components in which the non-lease component is the predominant component will be accounted for under the new revenue recognition ASU. The Company does not expect that ASU No. 2016-02 will impact the Company's accounting for Fixed Lease Payments because the Company's accounting policy is currently consistent with the provisions of the standard. The Company is currently evaluating the impact of the standard as it relates to Non-Lease Payments. If the practical expedient mentioned above is adopted and the Company elects it, the Company expects payments for expense reimbursements that qualify as Non-Lease Payments will be presented under a single lease component presentation. However, without the proposed practical expedient, the Company expects these reimbursements would be separated into Fixed Lease Payments and Non-Lease Payments. Under ASU No. 2016-02, reimbursements relating to property taxes and insurances are Fixed Lease Payments as the payments relates to the right to use the leased assets, while reimbursements relating to maintenance activities and common area expense are Non-Lease Payments and would be accounted under ASU No. 2014-09 upon the adoption of the ASU No. 2016-02 as these payments for goods or services are transferred separately from the right to use the underlying assets. 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 adopted the guidance using the modified retrospective approach for the fiscal year beginning January 1, 2018. The impact was minimal upon adoption of the new accounting guidance on its consolidated financial statements relating to the recognition of gains and losses on the sale of real estate assets as the Company’s current accounting for such transactions is consistent with the new guidance’s core principle. Rental income from leasing arrangements is a substantial portion of the Company’s revenue, is specifically excluded from ASU No. 2014-09 and will be governed by the applicable lease codification ("ASU No. 2016-02"). 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) ("ASU No. 2016-08"). 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 described above. The Company adopted the guidance using the modified retrospective approach for the fiscal year beginning January 1, 2018. The impact was minimal upon adoption of the new accounting guidance on its consolidated financial statements relating to the recognition of reporting revenue gross versus net on its consolidated financial statements as the Company’s current accounting for such transactions is consistent with the new guidance’s core principle.

Real Estate

Real Estate	9 Months Ended
	Sep. 30, 2018
Real Estate [Abstract]
Real Estate	Real Estate As of September 30, 2018 , the Company's real estate portfolio consisted of 27 properties ( 35 buildings) in 17 states consisting of office, industrial, distribution, and data center facilities with a combined acquisition value of $1.1 billion including the allocation of the purchase price to above and below-market lease valuation, encompassing approximately 7.3 million square feet. Depreciation expense for buildings and improvements for the nine months ended September 30, 2018 was $ 15.3 million . Amortization expense for intangibles, including, but not limited to, tenant origination and absorption costs, for the nine months ended September 30, 2018 was $ 18.1 million . 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 2021 to 2044. As of September 30, 2018 Remaining 2018 $ 19,311 2019 78,887 2020 80,492 2021 72,677 2022 73,538 Thereafter 528,803 Total $ 853,708 Intangibles The Company allocated a portion of the acquired real estate asset value to in-place lease valuation and tenant origination and absorption cost. 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, 2018 December 31, 2017 In-place lease valuation (above market) $ 4,046 $ 4,046 In-place lease valuation (above market), accumulated amortization (1,030 ) (752 ) Intangible assets, net $ 3,016 $ 3,294 In-place lease valuation (below market) $ (62,070 ) $ (62,070 ) In-place lease valuation (below market) - accumulated amortization 14,564 10,775 In-place lease valuation (below market), net $ (47,506 ) $ (51,295 ) Tenant origination and absorption cost $ 240,364 $ 240,364 Tenant origination and absorption cost - accumulated amortization (65,264 ) (47,165 ) Tenant origination and absorption cost, net $ 175,100 $ 193,199 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, 2018 for the next five years : Year In-Place Lease Valuation Tenant Origination and Absorption Costs Remaining 2018 $ (1,170 ) $ 6,033 2019 $ (4,695 ) $ 24,198 2020 $ (4,695 ) $ 24,198 2021 $ (3,799 ) $ 19,715 2022 $ (3,799 ) $ 19,597

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt As of September 30, 2018 and December 31, 2017 , the Company's debt and related deferred financing costs consisted of the following: September 30, 2018 December 31, 2017 Contractual Interest Rate (1) Payment Type Loan Maturity Effective Interest Rate (2) BofA/KeyBank Loan $ 250,000 $ — 4.32% Interest Only May 2028 4.36% AIG Loan 126,970 126,970 4.15% Interest Only (3) November 2025 4.22% Total Mortgage Debt 376,970 126,970 Term Loan 113,000 — LIBOR + 1.25% (4) Interest Only June 2023 3.58% Revolving Credit Facility 85 357,758 LIBOR + 1.30% (4)(5) Interest Only June 2023 (6) 3.65% Total Debt 490,055 484,728 Unamortized deferred financing costs (8,482 ) (2,880 ) Total Debt, net $ 481,573 $ 481,848 (1) Including the effect of one interest rate swap agreement with a total notional amount of $100.0 million , the weighted average interest rate as of September 30, 2018 was approximately 3.81% for the Company's fixed-rate and variable-rate debt combined. (2) Includes the effect of amortization of deferred financing costs. (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) The LIBOR as of September 30, 2018 was 2.11% . (5) As discussed below, the Company entered into an amended and restated credit agreement in June 2018. The contractual interest rate on the original revolving credit facility was LIBOR + 1.50% as of March 31, 2018. (6) The Revolving Credit Facility (as defined below) has an initial term of four years, maturing on June 28, 2022, and may be extended for a one -year period if certain conditions are met and upon payment of an extension fee. See discussion below. Amended and Restated Credit Agreement On June 28, 2018, the Company, through the Operating Partnership, entered into an amended and restated credit agreement (the "Amended and Restated Credit Agreement") related to a revolving credit facility and a term loan (collectively, the "Unsecured Credit Facility") with a syndicate of lenders, under which KeyBank, National Association ("KeyBank") serves as administrative agent, and various notes related thereto. In addition, the Company entered into a guaranty agreement. Pursuant to the Amended and Restated Credit Agreement, the Company was provided with a revolving credit facility (the "Revolving Credit Facility") in an initial commitment amount of up to $550 million and a term loan (the "Term Loan") in an initial commitment amount of up to $200 million , which commitments may be increased under certain circumstances up to a maximum total commitment of $1.25 billion . Any increase in the total commitment will be allocated to the Revolving Credit Facility and/or the Term Loan in such amounts as the Operating Partnership and KeyBank may determine.The Revolving Credit Facility may be prepaid and terminated, in whole or in part, at any time without fees or penalty. The Revolving Credit Facility has an initial term of four years , maturing on June 28, 2022. The Revolving Credit Facility may be extended for a one -year period if certain conditions are met and the Operating Partnership pays an extension fee. Payments under the Revolving Credit Facility are interest only and are due on the first day of each quarter. Amounts borrowed under the Revolving Credit Facility may be repaid and reborrowed, subject to the terms of the Amended and Restated Credit Agreement. The Term Loan has an initial term of five years , maturing on June 28, 2023. Payments under the Term Loan are interest only and are due on the first day of each quarter. Amounts borrowed under the Term Loan may not be repaid and reborrowed. The Unsecured Credit Facility has an interest rate calculated based on LIBOR plus the applicable LIBOR margin, as provided in the Amended and Restated Credit Agreement, or the Base Rate plus the applicable base rate margin, as provided in the agreement. The applicable LIBOR margin and base rate margin are dependent on the consolidated leverage ratio of the Operating Partnership, the Company, and the Company's subsidiaries, as disclosed in the periodic compliance certificate provided to the administrative agent each quarter. If the Operating Partnership obtains an investment grade rating of its senior unsecured long term debt from Standard & Poor's Rating Services or Moody's Investors Service, Inc., the applicable LIBOR margin and base rate margin will be dependent on such rating. The Amended and Restated Credit Agreement relating to the Revolving Credit Facility provides that the Operating Partnership must maintain a pool of real properties (each a "Pool Property" and collectively the "Pool Properties") that meet certain requirements contained in the Amended and Restated Credit Agreement. The agreement sets forth certain covenants relating to the Pool Properties, including, without limitation, the following: • there must be no less than 15 Pool Properties; • no greater than 15% of the aggregate pool value may be contributed by a single Pool Property or tenant; • no greater than 15% of the aggregate pool value may be contributed by Pool Properties subject to ground leases; • no greater than 20% of the aggregate pool value may be contributed by Pool Properties which are under development; • the minimum aggregate leasing percentage of all Pool Properties must be no less than 90% ; and • other limitations as determined by KeyBank upon further due diligence of the Pool Properties. Borrowing availability under the Amended and Restated Credit Agreement is limited to the lesser of (i) an asset pool leverage ratio of no greater than 60% , or (ii) an asset pool debt service coverage ratio of no less than 1.35 :1.00. As of September 30, 2018 , the remaining capacity pursuant to the Unsecured Credit Facility was $214.7 million . Bank of America and KeyBank Loan On April 27, 2018, the Company, through four SPEs that own the respective four properties noted below and are owned by the Company's Operating Partnership, entered into a loan agreement (the "Loan Agreement”) with Bank of America, N.A. and KeyBank (together with their successors and assigns, collectively, the "Lender") in which the Company borrowed $250.0 million (the "BofA/KeyBank Loan"). The Company utilized approximately $249.8 million of the proceeds provided by the BofA/KeyBank Loan to pay down a portion of the Company's Revolving Credit Facility. In connection with this pay down of the Company's Revolving Credit Facility, KeyBank released four of the special purpose entities owned by the Company's Operating Partnership from their obligations as guarantors under the Revolving Credit Facility. The BofA/KeyBank Loan is secured by cross-collateralized and cross-defaulted first mortgage liens on the properties with the following tenants: 3M Company, Amazon.com.dedc LLC, Southern Company Services, Inc. and IGT (each, a "Secured Property"). In connection with this transaction, the Company entered into a nonrecourse carve-out guaranty agreement. In addition to their first mortgage lien, the Lender also has a security interest in all other property relating to the ownership, use, maintenance or operation of the improvements on each Secured Property and all rents, profits and revenues from each Secured Property. The BofA/KeyBank Loan has a term of 10 years , maturing on May 1, 2028. The BofA/KeyBank Loan bears interest at an annual rate of 4.32% . Commencing on June 1, 2020, the BofA/KeyBank Loan may be prepaid but only if such prepayment is made in full (with certain exceptions), subject to certain conditions set forth in the Loan Agreement, including 30 days ' prior notice to the Lender and payment of a prepayment premium in addition to all unpaid principal and accrued interest to the date of such prepayment. Commencing on November 1, 2027, the BofA/KeyBank Loan may be prepaid in whole or in part, subject to satisfaction of certain conditions, including 30 days ' prior notice to the Lender, without payment of any prepayment premium. AIG Loan On October 22, 2015, six SPEs 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 SPEs 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. The AIG Loan bears interest at a rate 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. Debt Covenant Compliance Pursuant to the terms of the Unsecured Credit Facility, BofA/KeyBank Loan 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, 2018 .

Interest Rate Contracts

Interest Rate Contracts	9 Months Ended
	Sep. 30, 2018
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 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 . Effective as of November 1, 2017, Griffin Capital Essential Asset Operating Partnership, L.P., an affiliated party of the Sponsor, novated one of its $100.0 million swaps to the Operating Partnership, as a result of the repayment of debt. The terms of the cash flow swap are listed in the table below. On April 30, 2018, the Company settled the $100.0 million cash flow hedge contract purchased from Griffin Capital Essential Asset Operating Partnership, L.P., which resulted in the Company receiving a net settlement of approximately $0.1 million . The change in the fair value of derivatives designated and qualifying as cash flow hedges is initially recorded in AOCI and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Amounts reported in accumulated other comprehensive income ("AOCI") related to derivatives will be reclassified to interest expense as interest payments are made on the Company's variable-rate debt. The following table sets forth a summary of the interest rate swaps at September 30, 2018 and December 31, 2017 : Fair Value (1) Derivative Instruments Effective Date Maturity Date/ Termination Interest Strike Rate September 30, 2018 December 31, 2017 Assets Interest Rate Swap 4/1/2016 12/12/2018 0.74% $ 310 $ 967 Interest Rate Swap (terminated on April 30, 2018) 11/1/2017 4/30/2018 1.50% — 65 $ 310 $ 1,032 (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, 2018 , 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. The following table sets forth the impact of the interest rate swaps on the consolidated financial statements for the nine months ended September 30, 2018 and 2017 : Nine Months Ended September 30, 2018 2017 Interest Rate Swaps in Cash Flow Hedging Relationship: Amount of (gain) recognized in AOCI on derivatives $ (281 ) $ (190 ) Amount of gain reclassified from AOCI into earnings under “Interest expense” $ 922 $ 207 Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 14,775 $ 11,445 During the twelve months subsequent to September 30, 2018 , the Company estimates that an additional $0.3 million of income will be recognized from AOCI into earnings. The Company's 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, 2018 , the fair value of the interest rate swap was in an asset position excluding any adjustment for nonperformance risk related to the Company's derivative counterparty agreement, which was approximately $0.3 million . As of September 30, 2018 , the Company had not posted any collateral related to the Company's derivative counterparty agreements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2018
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, 2018 and the year ended December 31, 2017 . The following tables set forth the assets that the Company measures at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2018 : 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, 2018 $ 310 $ — $ 310 $ — December 31, 2017 $ 1,032 $ — $ 1,032 $ — Financial instruments as of September 30, 2018 and December 31, 2017 consisted of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, other accrued expenses, and borrowings. With the exception of the mortgage loan in the table below, the amounts of the financial instruments presented in the consolidated financial statements substantially approximate their fair value as of September 30, 2018 and December 31, 2017 . 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, 2018 and for the year ended December 31, 2017 . September 30, 2018 December 31, 2017 Fair Value Carrying Value (1) Fair Value Carrying Value (1) AIG Loan $ 119,338 $ 126,970 $ 122,928 $ 126,970 (1) The carrying value of the AIG Loan does not include deferred financing costs as of September 30, 2018 and December 31, 2017 . See Note 4, Debt , for details.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following as of September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 Prepaid rent $ 4,866 $ 4,304 Leasing commission payable 1,900 3,783 Accrued property taxes 3,633 3,490 Interest expense payable 2,661 3,013 Redemptions payable 6,671 2,181 Other liabilities 2,034 3,132 Total $ 21,765 $ 19,903

Equity

Equity	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Equity	Equity Status of Offerings On January 20, 2017, the Company closed the primary portion of the IPO; however, the Company continued to offer shares pursuant to the DRP under the IPO registration statement through May 2017. The Company is currently offering shares pursuant to the DRP. The DRP may be terminated at any time upon 10 days’ prior written notice to stockholders, which may be provided through the Company's filings with the SEC. On September 20, 2017, the Company commenced the Follow-On Offering of up to $2.2 billion of shares, consisting of up to $2.0 billion of shares in the Company's primary offering and $0.2 billion of shares (including Class A, Class AA and Class AAA shares) pursuant to the DRP. The Company reclassified all Class T and Class I shares sold in the IPO as "Class AA" and "Class AAA" shares, respectively. The Company offered Class T shares, Class S shares, Class D shares and Class I shares in its Follow-On Offering. On August 16, 2018, in connection with a potential strategic alternative the Company’s board of directors is contemplating, the board approved the temporary suspension of the primary portion of the Company's Follow-On Offering, effective August 17, 2018, to allow the special committee of the board to evaluate a potential strategic alternative. The board of directors intends to recommence the Follow-On Offering in the retail marketplace, if appropriate and at the appropriate time. Share Classes Class T shares, Class S shares, Class D shares, Class I shares, Class A shares, Class AA shares and Class AAA shares vote together as a single class, and each share is entitled to one vote on each matter submitted to a vote at a meeting of the Company's stockholders; provided that with respect to any matter that would only have a material adverse effect on the rights of a particular class of common stock, only the holders of such affected class are entitled to vote . The following table summarizes shares issued and gross proceeds received for each share class as of September 30, 2018 and outstanding shares as of September 30, 2018 and December 31, 2017 : Class T Class S Class D Class I Class A Class AA Class AAA Total Gross proceeds from primary portion of offerings $ 2,245 $ 3 $ 182 $ 7,538 $ 240,780 $ 474,858 $ 8,381 $ 733,987 Gross proceeds from DRP $ 16 $ — $ 2 $ 158 $ 25,328 $ 32,369 $ 503 $ 58,376 Shares issued in primary portion of offerings 224,647 264 18,921 786,573 24,199,764 47,562,870 901,225 73,694,264 DRP shares issued 1,650 13 236 16,496 2,669,097 3,412,273 53,014 6,152,779 Stock distribution shares issued — — — — 263,642 300,166 4,677 568,485 Restricted stock issued — — — — — — 36,000 36,000 Total redemptions — — — — (1,351,178 ) (1,434,491 ) (5,593 ) (2,791,262 ) Total shares outstanding as of September 30, 2018 226,297 277 19,157 803,069 25,781,325 49,840,818 989,323 77,660,266 Total shares outstanding as of December 31, 2017 4,148 268 268 267,476 25,995,943 49,942,471 964,709 77,175,283 Organizational and Offering Costs Pursuant to the Advisory Agreement, in no event will the Company be obligated to reimburse the Advisor for organizational and offering costs incurred in connection with the Follow-On Offering totaling in excess of 15% (including selling commissions, dealer manager fees, distribution fees and non-accountable due diligence expense allowance, but excluding acquisition expenses or any fees, if ever applicable) of the gross proceeds raised in the Follow-On Offering (excluding gross proceeds from the DRP). If the organizational and offering costs exceed such limits discussed above, within 60 days after the end of the month in which the Follow-On Offering terminates or is completed, the Advisor is 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 limitation discussed above will also apply to any future public offerings. As of September 30, 2018 , organizational and offering costs relating to the Follow-On Offering were 33.3% (approximately $3.3 million ) of gross offering proceeds ( $10.0 million ), including selling commissions, dealer manager fees and distribution fees. Therefore, if the Follow-On Offering had been terminated on September 30, 2018 , the Company would owe the Advisor $1.5 million and the Advisor would be liable for organizational and offering costs incurred by the Company of approximately $1.8 million . Approximately $0.7 million of organizational and offering costs the Advisor is liable for as of September 30, 2018 is deducted from "Due to Affiliates" and the remaining $1.1 million is included in "Other Assets, net" on the consolidated balance sheet. Organizational and offering costs incurred as of September 30, 2018 , including those incurred by the Company and due to the Advisor, for the Follow-On Offering are as follows: September 30, 2018 Cumulative offering costs $ 2,806 Cumulative organizational costs $ 510 Organizational and offering costs advanced by the Advisor $ 1,998 Organizational and offering costs paid by the Company 1,318 Adjustment to organizational and offering costs pursuant to the limitation: Costs in excess of limit (1,820 ) Organizational and offering costs incurred $ 1,496 Distribution Reinvestment Plan (DRP) The Company has adopted the DRP, which allows stockholders to have dividends and other distributions otherwise distributable to them invested in additional shares of common stock. No sales commissions or dealer manager fees are paid on shares sold through the DRP. The Company may amend or terminate the DRP for any reason at any time upon 10 days ' prior written notice to stockholders, which may be provided through the Company's filings with the SEC. IPO Share Redemption Program The Company had a share redemption program for holders of Class A, Class AA, and Class AAA shares ("IPO Shares") who held their shares for less than four years, which enabled IPO stockholders to sell their shares back to the Company in limited circumstances ("IPO Share Redemption Program"). On June 4, 2018, the board of directors of the Company approved the termination of the IPO Share Redemption Program effective as of July 5, 2018. In addition, effective as of such date, the board of directors amended and restated the New Share Redemption Program in order to allow stockholders of the IPO Shares to utilize the New Share Redemption Program. Accordingly, beginning in July 2018, stockholders of IPO Shares are able to continue to redeem at 100% of the NAV of the applicable share class, subject to the other limitations and conditions of the amended and restated New Share Redemption Program, as noted below. Redemption requests must be received by 4:00 p.m. (Eastern time) on the second to last business day of the applicable quarter. During the three and nine months ended September 30, 2018 and 2017 , the Company redeemed shares of its outstanding common stock under the IPO Share Redemption Program as follows: Three Months Ended September 30, Nine Months Ended September 30, Period 2018 2017 2018 2017 Shares of common stock redeemed 585,525 (1) 146,083 1,306,834 413,842 Weighted average price per share $ 9.65 $ 9.06 $ 9.36 $ 9.18 (1) Second quarter requests redeemed in the third quarter. During the nine months ended September 30, 2018 , the Company redeemed 1,306,834 shares of common stock under the IPO Share Redemption Program for approximately $12.2 million at a weighted average price per share of 9.36 . Since inception, the Company has honored all redemption requests related to the IPO Share Redemption Program and has redeemed a total of 2,097,775 shares of common stock for approximately $19.6 million at a weighted average price per share of $9.34 . The Company has funded all redemptions using proceeds from the sale of IPO Shares pursuant to the DRP. For more information regarding the IPO Share Redemption Program, see our Annual Report on Form 10-K for the year ended December 31, 2017. New Share Redemption Program In connection with the Follow-On Offering, the Company’s board of directors adopted the New Share Redemption Program for the New Shares (and IPO Shares that have been held for four years or longer). As noted above, subsequently, on June 4, 2018, the board of directors amended and restated the program to allow stockholders of the IPO Shares to utilize the New Share Redemption Program, effective as of July 5, 2018. Under the New Share Redemption Program, the Company will redeem shares as of the last business day of each quarter. The redemption price will be equal to the NAV per share for the applicable class generally on the 13th of the month prior to quarter end. Redemption requests must be received by 4:00 p.m. (Eastern time) on the second to last business day of the applicable quarter. Redemption requests exceeding the quarterly cap will be filled on a pro rata basis.With respect to any pro rata treatment, redemption requests following the death or qualifying disability of a stockholder will be considered first, as a group, followed by requests where pro rata redemption would result in a stockholder owning less than the minimum balance of $2,500 of shares of the Company's common stock, which will be redeemed in full to the extent there are available funds, with any remaining available funds allocated pro rata among all other redemption requests. All unsatisfied redemption requests must be resubmitted after the start of the next quarter, or upon the recommencement of the New Share Redemption Program, as applicable. There are several restrictions under the New Share Redemption Program. Stockholders generally have to hold their shares for one year before submitting their shares for redemption under the program; however, the Company will waive the one-year holding period in the event of the death or qualifying disability of a stockholder. Shares issued pursuant to the DRP are not subject to the one-year holding period. In addition, the New Share Redemption Program generally imposes a quarterly cap on aggregate redemptions of the Company's shares equal to a value of up to 5% of the aggregate NAV of the outstanding shares as of the last business day of the previous quarter. As the value on the aggregate redemptions of the Company's shares is outside the Company's control, the 5% quarterly cap is considered to be temporary equity and is presented as the common stock subject to redemption on the accompanying consolidated balance sheets. As of September 30, 2018 , the quarterly cap was approximately $37.4 million and $6.7 million of common stock was reclassified from common stock to accrued expenses and other liabilities in the consolidated balance sheet as of September 30, 2018 . During the three and nine months ended September 30, 2018 and 2017 , the Company redeemed shares of its outstanding common stock under the New Share Redemption Program as follows: Three Months Ended September 30, Nine Months Ended September 30, Period 2018 2017 2018 2017 Shares of common stock redeemed 693,487 — 693,487 — Weighted average price per share $ 9.62 — $ 9.62 — Since inception, the Company has honored all redemption requests related to the New Share Redemption Program and has redeemed a total of 693,487 shares of common stock for approximately $6.7 million at a weighted average price per share of $9.62 . The Company’s board of directors has the right to modify or suspend the New Share Redemption Program upon 30 days ' notice at any time if it deems such action to be in the Company’s best interest. Any such modification or suspension will be communicated to stockholders through the Company’s filings with the SEC.

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 30, 2018
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests represent limited partnership interests in the Operating Partnership in which the Company is the general partner. The Operating Partnership issued 20,000 Class A 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. On February 16, 2018, as elected by the Advisor, the Company issued 123,779 Operating Partnership units for $9.57 per unit to the Advisor for the 50% of the 2017 performance distribution allocation that the Advisor elected to receive in Class I limited partnership units. The remaining balance was paid in cash. As of September 30, 2018 , noncontrolling interests were approximately 0.18% of total shares outstanding and 0.16% 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 for cash equal to the value of an equivalent number of shares, or, at the Company’s option, the Company may purchase such limited partners' limited partnership units by issuing one share of common stock for each limited partnership unit redeemed. These rights may not be exercised under certain circumstances which could cause the Company to lose its REIT election. Furthermore, limited partners may generally exercise their redemption rights only after their limited partnership units have been outstanding for one year . The limited partnership units are reported on the consolidated balance sheets as noncontrolling interests. The following summarizes the activity for noncontrolling interests for the nine months ended September 30, 2018 and the year ended December 31, 2017 : Nine Months Ended September 30, 2018 Year Ended December 31, 2017 Beginning balance $ 76 $ 84 Issuance of limited partnership units 1,185 — Distributions to noncontrolling interests (50 ) (11 ) Net (loss) income allocation (1 ) 3 Other comprehensive loss (2 ) — Ending balance $ 1,208 $ 76

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Summarized below are the related party costs incurred by the Company for the nine months ended September 30, 2018 , and 2017 , respectively, and amounts payable as of September 30, 2018 and December 31, 2017 : Incurred for the Nine Months Ended September 30, Payable as of September 30, Payable as of December 31, 2018 2017 2018 2017 Expensed Corporate operating expenses $ 2,168 $ 1,677 $ 806 $ 658 Asset management fees (1) — 8,027 — — Property management fees 1,365 1,347 153 158 Performance distribution allocation 6,200 213 6,224 2,394 Advisory fees 6,970 273 784 762 Capitalized/Offering Acquisition fees and (2) — 1,099 — — Organization and offering expense 1,113 250 1,305 (6) 192 Other costs advanced by the Advisor 938 604 319 285 Selling commissions (3) 66 1,127 — — Dealer Manager fees 11 393 — — Stockholder servicing fee (4) 175 565 9,353 12,377 Advisor advances: (5) Organization and offering 45 136 44 8 Dealer Manager fees — 791 — 62 Total $ 19,051 $ 16,502 $ 18,988 $ 16,896 (1) As part of the Follow-On Offering, the Company's new management compensation structure no longer includes asset management fees. (2) Effective September 20, 2017, the Advisor is not entitled to acquisition fees, disposition fees or financing fees; provided, however, that the Advisor will receive the compensation set forth in the original advisory agreement for the Company’s investment in an approximately 1,000,000 square foot property located at 39000 Amrheim Road, Livonia, Michigan 48150 with a total transaction price of approximately $80.0 million . (3) On September 18, 2017, the Company and the Dealer Manager entered into a dealer manager agreement for the Follow-On Offering. See the "Dealer Manager Agreement" section below for details regarding selling commissions and dealer manager fees. (4) The Dealer Manager continues to receive a stockholder servicing fee with respect to Class AA shares as detailed in the Company's IPO prospectus. The stockholder servicing fee is paid quarterly and accrues daily in an amount equal to 1/365th of 1.0% of the NAV per share of the Class AA shares, up to an aggregate of 4% of the gross proceeds of Class AA shares sold. The Company will cease paying the stockholder servicing fee with respect to the Class AA shares 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 Company's IPO (excluding proceeds from sales pursuant to the related DRP); (ii) the fourth anniversary of the last day of the fiscal quarter in which the Company's IPO terminated; (iii) the date that such Class AA 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. (5) Pursuant to the original advisory agreement, commencing November 2, 2015, the Company remained obligated to reimburse the Advisor for organizational and offering costs incurred after such date. Terms of the organizational and offering costs are included in the Company's 2016 Annual Report on Form 10-K filed on March 15, 2017. (6) Excludes amounts in excess of the 15% organization and offering costs limitation. See Note 8, Equity , for additional details. On September 20, 2017, an affiliated entity of the Sponsor purchased 263,992 New Shares for $2.5 million . As of September 30, 2018 , the total outstanding shares owned by affiliates (including DRP) was 563,440 . Advisory Agreement In connection with the Follow-On Offering, on September 20, 2017, the Company entered into the Advisory Agreement with the Advisor and the Operating Partnership. The Advisory Agreement is substantially similar to the Original Advisory Agreement, except that the Company will not pay the Advisor any acquisition, financing or other similar fees from proceeds raised in the Follow-On Offering in connection with making investments and will instead pay the Advisor an advisory fee that will be payable in arrears on a monthly basis and accrues daily in an amount equal to 1/365th of 1.25% of the NAV for each class of common stock for each day. Performance Distribution Allocation So long as the Advisory Agreement has not been terminated (including by means of non-renewal), the Advisor will hold a special limited partner interest in the Operating Partnership that entitles it to receive a distribution from the Operating Partnership equal to 12.5% of the total return, subject to a 5.5% hurdle amount and a high water mark, with a catch-up (terms of the performance distribution allocation are included in the Company's 2017 Annual Report on Form 10-K filed on March 9, 2018). Such distribution will be made annually and accrue daily. On February 16, 2018, the Company paid in cash approximately $1.2 million and issued approximately $1.2 million in Class I limited partnership units to the Advisor. The Advisor elected to receive 50% in cash and the remaining in Class I limited partnership units. 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. The Advisor may waive or defer all or a portion of these reimbursements or elect to receive Class I shares or Class I units of the Operating Partnership in lieu of these reimbursements at any time and from time to time, in its sole discretion. For the nine months ended September 30, 2018 and 2017 , the Company’s total operating expenses did not exceed the 2%/25% guideline. The Company reimbursed 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, executive vice president, David C. Rupert, and vice president and secretary, Howard S. Hirsch of approximately $0.6 million and $0.5 million , which is partially included in offering costs with the remaining amount included in corporate operating expenses to affiliates for the nine months ended September 30, 2018 and 2017 , respectively, for services provided to the Company, for which the Company does not pay the Advisor a fee. In addition, the Company incurred approximately $0.07 million and $0.1 million in reimbursable expenses to the Advisor for services provided to the Company by certain of its other executive officers for each of the nine months ended September 30, 2018 and 2017 , 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 (the "Dealer Manager Agreement") and associated form of participating dealer agreement with the Dealer Manager. The terms of the Dealer Manager Agreement are substantially similar to the terms of the dealer manager agreement from the Company's IPO, except as it relates to the share classes offered and the fees to be received by the Dealer Manager (terms of the Dealer Manager Agreement are included in the Company's 2017 Annual Report on Form 10-K filed on March 9, 2018). Distribution Fees Subject to Financial Industry Regulatory Authority, Inc.'s limitations on underwriting compensation, under the Dealer Manager Agreement the Company will pay the Dealer Manager a distribution fee for ongoing services rendered to stockholders by participating broker-dealers or broker-dealers servicing investors’ accounts, referred to as servicing broker-dealers. The fee accrues daily and is paid monthly in arrears and is calculated based on the average daily NAV for the applicable month (the “Average NAV”). The distribution fees for the different share classes are as follows: (i) with respect to the outstanding Class T shares equal to 1/365th of 1.0% of the Average NAV of the outstanding Class T shares for each day, consisting of an advisor distribution fee of 1/365th of 0.75% and a dealer distribution fee of 1/365th of 0.25% of the Average NAV of the Class T shares for each day; (ii) with respect to the outstanding Class S shares equal to 1/365th of 1.0% of the Average NAV of the outstanding Class S shares for each day; and (iii) with respect to the outstanding Class D shares equal to 1/365th of 0.25% of the Average NAV of the outstanding Class D shares for each day. The Company will not pay a distribution fee with respect to the outstanding Class I shares. The distribution fees will accrue daily and be paid monthly in arrears. The Dealer Manager will reallow the distribution fees to participating broker-dealers and servicing broker-dealers for ongoing services performed by such broker-dealers, and will retain any such distribution fees to the extent a broker-dealer is not eligible to receive them for failure to provide such services. The Dealer Manager will waive the distribution fees for any purchases by affiliates of the Company. The Company will cease paying the distribution fee with respect to any Class T share, Class S share or Class D share held in a stockholder's account at the end of the month in which the Dealer Manager in conjunction with the transfer agent determines that total selling commissions, dealer manager fees and distribution fees paid with respect to all shares from the Follow-On Offering held by such stockholder within such account would exceed, in the aggregate, 9.0% (or a lower limit as set forth in any applicable agreement between the Dealer Manager and a participating broker-dealer) of the gross proceeds from the sale of such shares (including the gross proceeds of any shares issued under the DRP with respect thereto). At the end of such month, such Class T share, Class S share or Class D share (and any shares issued under the DRP with respect thereto) will convert into a number of Class I shares (including any fractional shares) with an equivalent NAV as such share. In addition, the Company will cease paying the distribution fee on the Class T shares, Class S shares and Class D shares on the earlier to occur of the following: (i) a listing of the Company's shares, (ii) a merger or consolidation with or into another entity, or the sale or other disposition of all or substantially all of the Company's assets, including any liquidation of the Company or (iii) the date following the completion of the primary portion of the Follow-On Offering on which, in the aggregate, underwriting compensation from all sources in connection with the Follow-On Offering, including selling commissions, dealer manager fees, the distribution fee and other underwriting compensation, is equal to 9% of the gross proceeds from the Company's primary offering. 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 12 other programs affiliated with the Sponsor, including Griffin Capital Essential Asset REIT, Inc. ("GCEAR"), Griffin-American Healthcare REIT III, Inc. ("GAHR III"), Griffin-American Healthcare REIT IV, Inc. ("GAHR IV") and Phillips Edison Grocery Center REIT III, Inc. ("PECO III"), all of which are publicly-registered, non-traded real estate investment trusts, and Griffin Institutional Access Real Estate Fund ("GIA Real Estate Fund") and Griffin Institutional Access Credit Fund ("GIA Credit Fund"), both of which are non-diversified, closed-end management investment companies that are operated as interval funds under the Investment Company Act of 1940, as amended (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 Company's 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 the Company and GCEAR 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 concentration/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 the Company and GCEAR, 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; • no significant increase in the cost of financing; 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, 2018
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, 2018
Declaration of Distributions [Abstract]
Declaration of Distributions	Declaration of Distributions During the quarter ended September 30, 2018 , the Company paid cash distributions in the amount of $0.0015068493 per day, before adjustments of class-specific expenses, per Class T share, Class S share, Class D share, Class I share, Class A share, Class AA share and Class AAA 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, 2018 through September 30, 2018. Such distributions payable to each stockholder of record were paid on such date after the end of each month during the period as determined by the Company's Chief Executive Officer. On September 12, 2018 , the Company’s board of directors declared cash distributions in the amount of $0.0015068493 per day, subject to adjustments for class-specific expenses, per Class T share, Class S share, Class D share, Class I share, Class A share, Class AA share, and Class AAA 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, 2018 through December 31, 2018. Such distributions payable to each stockholder of record will be paid on such date after the end of each month during the period as determined by the Company's Chief Executive Officer.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Offering Status As of November 7, 2018, the Company had issued 7,372,224 shares of the Company’s common stock pursuant to the DRP and Follow-On Offering for approximately $70.2 million . Redemptions On October 1, 2018, the Company paid approximately $6.7 million at a weighted average price per share of $9.62 related to redemption payables.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements of the Company are prepared by management on the accrual basis of accounting and in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information as contained in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“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, which are, in the opinion of management, of a normal recurring nature and necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim period. Operating results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . 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, 2017 .
Consolidation	The consolidated financial statements of the Company include all accounts of the Company, the Operating Partnership, and its subsidiaries. Intercompany transactions are not shown on the consolidated statements. However, each property owning entity is a wholly owned subsidiary which is a special purpose entity ("SPE"), which assets and credit are not available to satisfy the debts or obligations of any other entity, except to the extent required with respect to any co-borrower or guarantor under the same credit facility.
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.
Change in Consolidated Financial Statements Presentation	Change in Consolidated Financial Statements Presentation During the year ended December 31, 2017, the Company elected to early adopt Accounting Standards Update ("ASU") No. 2016-18, Restricted Cash ("ASU No. 2016-18"). As a result, the Company no longer presents transfers between cash and restricted cash in the consolidated statements of cash flows. Instead, restricted cash is included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the consolidated statements of cash flows.
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, 2018 and December 31, 2017 , there were no material common stock equivalents that would have a dilutive effect on earnings (loss) per share for common stockholders.
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 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging ("ASU No. 2017-12") . The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. For cash flow hedges that are highly effective, the new standard requires all changes (effective and ineffective components) in the fair value of the hedging instrument to be recorded in other comprehensive income and to be reclassified into earnings only when the hedged item impacts earnings. Current guidance requires a periodic recognition of hedge ineffectiveness in earnings. Under existing standards, a quantitative assessment is made on an ongoing basis to determine if a hedge is highly effective in offsetting changes in cash flows associated with the hedged item. Under the new standard, entities will still be required to perform an initial quantitative test. However, the new standard allows entities to elect to subsequently perform only a qualitative assessment unless facts and circumstances change. This ASU is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. The Company elected to early adopt ASU No. 2017-12 for the reporting period ending March 31, 2018. The adoption of ASU No. 2017-12 did not have a material effect on the Company's financial position or statement of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases ("ASU No. 2016-02"). ASU No. 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 No. 2016-02 will direct how the Company accounts for payments from the elements of leases that are generally fixed and determinable at the inception of the lease (“Fixed Lease Payments”) while ASU No. 2014-09 (defined below) will direct how the Company accounts for the non-lease components of lease contracts, primarily expense reimbursements (“Non-Lease Payments”) and the accounting for the disposition of real estate facilities. ASU No. 2016-02 will be effective beginning in the first quarter of 2019. Early adoption of ASU No. 2016-02 as of its issuance is permitted. ASU No. 2016-02 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. Based on the required adoption date of January 1, 2019, the modified retrospective method for ASU No. 2016-02 requires application of the standard to all leases that exist at, or commence after, January 1, 2017 (beginning of the earliest comparative period presented in the 2019 financial statements), with a cumulative adjustment to the opening balance of accumulated earnings (deficit) on January 1, 2017, for the effect of applying the standard at the date of initial application, and restatement of the amounts presented prior to January 1, 2019. The FASB has also issued an amendment to the standard that would provide an entity an optional transition method to initially account for the impact of the adoption of the standard with a cumulative adjustment to accumulated earnings (deficit) on January 1, 2019 (the effective date of ASU No. 2016-02), rather than January 1, 2017, which would eliminate the need to restate amounts presented prior to January 1, 2019. Under ASU No. 2016-02, an entity may elect a practical expedient package, which states that: (a) an entity need not reassess whether any expired or existing contracts are leases or contain leases; (b) an entity need not reassess the lease classification for any expired or existing leases; and (c) an entity need not reassess initial direct costs for any existing leases. These three practical expedients are available as a single election that must be elected as a package and must be consistently applied to all existing leases at the date of adoption. The FASB has also tentatively noted in May 2017 board meeting minutes that lessors that adopt this package of practical expedients are not expected to reassess expired or existing leases at the date of initial application, which is January 1, 2017 under ASU No. 2016-02, or January 1, 2019, if the Company elects the optional transition method. The FASB noted that the transition provisions generally enable entities to “run off” their existing leases for the remainder of the lease term, which would effectively eliminate the need to calculate adjustment to the opening balance of accumulated earnings (deficit). In March 2018, the FASB approved a proposal to the drafting of an amendment to the ASU to allow lessors to elect, as a practical expedient, not to allocate the total consideration to lease and non-lease components based on their relative standalone selling prices. If adopted, this single-lease component practical expedient will allow lessors to elect a combined single-lease component presentation if (i) the timing and pattern of transfer of the lease component and the non-lease component(s) associated with it are the same, and (ii) the lease component would be classified as an operating lease if it were accounted for separately. Non-lease components that do not meet the criteria of this practical expedient and combined components in which the non-lease component is the predominant component will be accounted for under the new revenue recognition ASU. The Company does not expect that ASU No. 2016-02 will impact the Company's accounting for Fixed Lease Payments because the Company's accounting policy is currently consistent with the provisions of the standard. The Company is currently evaluating the impact of the standard as it relates to Non-Lease Payments. If the practical expedient mentioned above is adopted and the Company elects it, the Company expects payments for expense reimbursements that qualify as Non-Lease Payments will be presented under a single lease component presentation. However, without the proposed practical expedient, the Company expects these reimbursements would be separated into Fixed Lease Payments and Non-Lease Payments. Under ASU No. 2016-02, reimbursements relating to property taxes and insurances are Fixed Lease Payments as the payments relates to the right to use the leased assets, while reimbursements relating to maintenance activities and common area expense are Non-Lease Payments and would be accounted under ASU No. 2014-09 upon the adoption of the ASU No. 2016-02 as these payments for goods or services are transferred separately from the right to use the underlying assets. 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 adopted the guidance using the modified retrospective approach for the fiscal year beginning January 1, 2018. The impact was minimal upon adoption of the new accounting guidance on its consolidated financial statements relating to the recognition of gains and losses on the sale of real estate assets as the Company’s current accounting for such transactions is consistent with the new guidance’s core principle. Rental income from leasing arrangements is a substantial portion of the Company’s revenue, is specifically excluded from ASU No. 2014-09 and will be governed by the applicable lease codification ("ASU No. 2016-02"). 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) ("ASU No. 2016-08"). 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 described above. The Company adopted the guidance using the modified retrospective approach for the fiscal year beginning January 1, 2018. The impact was minimal upon adoption of the new accounting guidance on its consolidated financial statements relating to the recognition of reporting revenue gross versus net on its consolidated financial statements as the Company’s current accounting for such transactions is consistent with the new guidance’s core principle.

Real Estate (Tables)

Real Estate (Tables)	9 Months Ended
	Sep. 30, 2018
Real Estate [Abstract]
Schedule of 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 2021 to 2044. As of September 30, 2018 Remaining 2018 $ 19,311 2019 78,887 2020 80,492 2021 72,677 2022 73,538 Thereafter 528,803 Total $ 853,708
Schedule of allocated real estate asset value	The Company allocated a portion of the acquired real estate asset value to in-place lease valuation and tenant origination and absorption cost. 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, 2018 December 31, 2017 In-place lease valuation (above market) $ 4,046 $ 4,046 In-place lease valuation (above market), accumulated amortization (1,030 ) (752 ) Intangible assets, net $ 3,016 $ 3,294 In-place lease valuation (below market) $ (62,070 ) $ (62,070 ) In-place lease valuation (below market) - accumulated amortization 14,564 10,775 In-place lease valuation (below market), net $ (47,506 ) $ (51,295 ) Tenant origination and absorption cost $ 240,364 $ 240,364 Tenant origination and absorption cost - accumulated amortization (65,264 ) (47,165 ) Tenant origination and absorption cost, net $ 175,100 $ 193,199
Schedule of estimated annual amortization (income) expense	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, 2018 for the next five years : Year In-Place Lease Valuation Tenant Origination and Absorption Costs Remaining 2018 $ (1,170 ) $ 6,033 2019 $ (4,695 ) $ 24,198 2020 $ (4,695 ) $ 24,198 2021 $ (3,799 ) $ 19,715 2022 $ (3,799 ) $ 19,597

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of debt	As of September 30, 2018 and December 31, 2017 , the Company's debt and related deferred financing costs consisted of the following: September 30, 2018 December 31, 2017 Contractual Interest Rate (1) Payment Type Loan Maturity Effective Interest Rate (2) BofA/KeyBank Loan $ 250,000 $ — 4.32% Interest Only May 2028 4.36% AIG Loan 126,970 126,970 4.15% Interest Only (3) November 2025 4.22% Total Mortgage Debt 376,970 126,970 Term Loan 113,000 — LIBOR + 1.25% (4) Interest Only June 2023 3.58% Revolving Credit Facility 85 357,758 LIBOR + 1.30% (4)(5) Interest Only June 2023 (6) 3.65% Total Debt 490,055 484,728 Unamortized deferred financing costs (8,482 ) (2,880 ) Total Debt, net $ 481,573 $ 481,848 (1) Including the effect of one interest rate swap agreement with a total notional amount of $100.0 million , the weighted average interest rate as of September 30, 2018 was approximately 3.81% for the Company's fixed-rate and variable-rate debt combined. (2) Includes the effect of amortization of deferred financing costs. (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) The LIBOR as of September 30, 2018 was 2.11% . (5) As discussed below, the Company entered into an amended and restated credit agreement in June 2018. The contractual interest rate on the original revolving credit facility was LIBOR + 1.50% as of March 31, 2018. (6) The Revolving Credit Facility (as defined below) has an initial term of four years, maturing on June 28, 2022, and may be extended for a one -year period if certain conditions are met and upon payment of an extension fee. See discussion below.

Interest Rate Contracts (Tables

Interest Rate Contracts (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	The following table sets forth a summary of the interest rate swaps at September 30, 2018 and December 31, 2017 : Fair Value (1) Derivative Instruments Effective Date Maturity Date/ Termination Interest Strike Rate September 30, 2018 December 31, 2017 Assets Interest Rate Swap 4/1/2016 12/12/2018 0.74% $ 310 $ 967 Interest Rate Swap (terminated on April 30, 2018) 11/1/2017 4/30/2018 1.50% — 65 $ 310 $ 1,032 (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, 2018 , 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.
Impact of interest rate swap on consolidated statements of operation	The following table sets forth the impact of the interest rate swaps on the consolidated financial statements for the nine months ended September 30, 2018 and 2017 : Nine Months Ended September 30, 2018 2017 Interest Rate Swaps in Cash Flow Hedging Relationship: Amount of (gain) recognized in AOCI on derivatives $ (281 ) $ (190 ) Amount of gain reclassified from AOCI into earnings under “Interest expense” $ 922 $ 207 Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 14,775 $ 11,445

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair value of assets and liabilities measured on recurring basis	The following tables set forth the assets that the Company measures at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2018 : 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, 2018 $ 310 $ — $ 310 $ — December 31, 2017 $ 1,032 $ — $ 1,032 $ — 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, 2018 and for the year ended December 31, 2017 . September 30, 2018 December 31, 2017 Fair Value Carrying Value (1) Fair Value Carrying Value (1) AIG Loan $ 119,338 $ 126,970 $ 122,928 $ 126,970 (1) The carrying value of the AIG Loan does not include deferred financing costs as of September 30, 2018 and December 31, 2017 . See Note 4, Debt , for details.

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
Schedule of accrued expenses and other liabilities	Accrued expenses and other liabilities consisted of the following as of September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 Prepaid rent $ 4,866 $ 4,304 Leasing commission payable 1,900 3,783 Accrued property taxes 3,633 3,490 Interest expense payable 2,661 3,013 Redemptions payable 6,671 2,181 Other liabilities 2,034 3,132 Total $ 21,765 $ 19,903

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Schedule of shares issued and gross proceeds for each class	The following table summarizes shares issued and gross proceeds received for each share class as of September 30, 2018 and outstanding shares as of September 30, 2018 and December 31, 2017 : Class T Class S Class D Class I Class A Class AA Class AAA Total Gross proceeds from primary portion of offerings $ 2,245 $ 3 $ 182 $ 7,538 $ 240,780 $ 474,858 $ 8,381 $ 733,987 Gross proceeds from DRP $ 16 $ — $ 2 $ 158 $ 25,328 $ 32,369 $ 503 $ 58,376 Shares issued in primary portion of offerings 224,647 264 18,921 786,573 24,199,764 47,562,870 901,225 73,694,264 DRP shares issued 1,650 13 236 16,496 2,669,097 3,412,273 53,014 6,152,779 Stock distribution shares issued — — — — 263,642 300,166 4,677 568,485 Restricted stock issued — — — — — — 36,000 36,000 Total redemptions — — — — (1,351,178 ) (1,434,491 ) (5,593 ) (2,791,262 ) Total shares outstanding as of September 30, 2018 226,297 277 19,157 803,069 25,781,325 49,840,818 989,323 77,660,266 Total shares outstanding as of December 31, 2017 4,148 268 268 267,476 25,995,943 49,942,471 964,709 77,175,283
Organizational and offering costs incurred	Organizational and offering costs incurred as of September 30, 2018 , including those incurred by the Company and due to the Advisor, for the Follow-On Offering are as follows: September 30, 2018 Cumulative offering costs $ 2,806 Cumulative organizational costs $ 510 Organizational and offering costs advanced by the Advisor $ 1,998 Organizational and offering costs paid by the Company 1,318 Adjustment to organizational and offering costs pursuant to the limitation: Costs in excess of limit (1,820 ) Organizational and offering costs incurred $ 1,496
Schedule of stock redeemed	During the three and nine months ended September 30, 2018 and 2017 , the Company redeemed shares of its outstanding common stock under the New Share Redemption Program as follows: Three Months Ended September 30, Nine Months Ended September 30, Period 2018 2017 2018 2017 Shares of common stock redeemed 693,487 — 693,487 — Weighted average price per share $ 9.62 — $ 9.62 — During the three and nine months ended September 30, 2018 and 2017 , the Company redeemed shares of its outstanding common stock under the IPO Share Redemption Program as follows: Three Months Ended September 30, Nine Months Ended September 30, Period 2018 2017 2018 2017 Shares of common stock redeemed 585,525 (1) 146,083 1,306,834 413,842 Weighted average price per share $ 9.65 $ 9.06 $ 9.36 $ 9.18 (1) Second quarter requests redeemed in the third quarter.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	9 Months Ended
	Sep. 30, 2018
Noncontrolling Interest [Abstract]
Redeemable noncontrolling interest	The following summarizes the activity for noncontrolling interests for the nine months ended September 30, 2018 and the year ended December 31, 2017 : Nine Months Ended September 30, 2018 Year Ended December 31, 2017 Beginning balance $ 76 $ 84 Issuance of limited partnership units 1,185 — Distributions to noncontrolling interests (50 ) (11 ) Net (loss) income allocation (1 ) 3 Other comprehensive loss (2 ) — Ending balance $ 1,208 $ 76

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Summarized below are the related party costs incurred by the Company for the nine months ended September 30, 2018 , and 2017 , respectively, and amounts payable as of September 30, 2018 and December 31, 2017 : Incurred for the Nine Months Ended September 30, Payable as of September 30, Payable as of December 31, 2018 2017 2018 2017 Expensed Corporate operating expenses $ 2,168 $ 1,677 $ 806 $ 658 Asset management fees (1) — 8,027 — — Property management fees 1,365 1,347 153 158 Performance distribution allocation 6,200 213 6,224 2,394 Advisory fees 6,970 273 784 762 Capitalized/Offering Acquisition fees and (2) — 1,099 — — Organization and offering expense 1,113 250 1,305 (6) 192 Other costs advanced by the Advisor 938 604 319 285 Selling commissions (3) 66 1,127 — — Dealer Manager fees 11 393 — — Stockholder servicing fee (4) 175 565 9,353 12,377 Advisor advances: (5) Organization and offering 45 136 44 8 Dealer Manager fees — 791 — 62 Total $ 19,051 $ 16,502 $ 18,988 $ 16,896 (1) As part of the Follow-On Offering, the Company's new management compensation structure no longer includes asset management fees. (2) Effective September 20, 2017, the Advisor is not entitled to acquisition fees, disposition fees or financing fees; provided, however, that the Advisor will receive the compensation set forth in the original advisory agreement for the Company’s investment in an approximately 1,000,000 square foot property located at 39000 Amrheim Road, Livonia, Michigan 48150 with a total transaction price of approximately $80.0 million . (3) On September 18, 2017, the Company and the Dealer Manager entered into a dealer manager agreement for the Follow-On Offering. See the "Dealer Manager Agreement" section below for details regarding selling commissions and dealer manager fees. (4) The Dealer Manager continues to receive a stockholder servicing fee with respect to Class AA shares as detailed in the Company's IPO prospectus. The stockholder servicing fee is paid quarterly and accrues daily in an amount equal to 1/365th of 1.0% of the NAV per share of the Class AA shares, up to an aggregate of 4% of the gross proceeds of Class AA shares sold. The Company will cease paying the stockholder servicing fee with respect to the Class AA shares 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 Company's IPO (excluding proceeds from sales pursuant to the related DRP); (ii) the fourth anniversary of the last day of the fiscal quarter in which the Company's IPO terminated; (iii) the date that such Class AA 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. (5) Pursuant to the original advisory agreement, commencing November 2, 2015, the Company remained obligated to reimburse the Advisor for organizational and offering costs incurred after such date. Terms of the organizational and offering costs are included in the Company's 2016 Annual Report on Form 10-K filed on March 15, 2017. (6) Excludes amounts in excess of the 15% organization and offering costs limitation. See Note 8, Equity , for additional details.

Organization - Narrative (Detai

Organization - Narrative (Details)	May 02, 2018	Sep. 30, 2018	Jul. 05, 2018	Sep. 20, 2017USD ($)stock_class	Apr. 06, 2017shares	Jul. 31, 2014USD ($)	Feb. 11, 2014USD ($)
Subsidiary, Sale of Stock [Line Items]
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%
Offering amount in sales of shares						$ 2,200,000,000
IPO
Subsidiary, Sale of Stock [Line Items]
Offering amount in sales of shares						2,000,000,000
Follow-on Offering
Subsidiary, Sale of Stock [Line Items]
Offering amount in sales of shares				$ 2,200,000,000
Number of new classes of common stock | stock_class				4
Primary Offering
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		$ 200,000,000
Share registration of stock to be sold (shares) | shares					3,000,000
New Share Redemption Program
Subsidiary, Sale of Stock [Line Items]
Minimum holding period for redemption of stock		1 year
Redemption price as percentage of Net Asset Value of outstanding shares (percent)		100.00%	100.00%
New Share Redemption Program | IPO
Subsidiary, Sale of Stock [Line Items]
Minimum holding period for redemption of stock		4 years
IPO Share Redemption Program
Subsidiary, Sale of Stock [Line Items]
Minimum holding period for redemption of stock	1 year
Redemption price as percentage of Net Asset Value of outstanding shares (percent)	100.00%

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details)	9 Months Ended
	Sep. 30, 2018segment
Accounting Policies [Abstract]
Number of reportable segments	1

Real Estate - Narrative (Detail

Real Estate - Narrative (Details) $ in Thousands, ft² in Millions	9 Months Ended
	Sep. 30, 2018USD ($)ft²statePropertybuilding	Sep. 30, 2017USD ($)
Real Estate [Abstract]
Number of properties (property) | Property	27
Number of buildings (building) | building	35
Number of states (state) | state	17
Aggregate purchase price of acquired properties	$ 1,100,000
Area of real estate property (in sqft) | ft²	7.3
Depreciation of building and improvements	$ 15,284	$ 15,053
Amortization expense	$ 18,100

Real Estate - Future Minimum Co

Real Estate - Future Minimum Contractual Rent Payments (Details) $ in Thousands	Sep. 30, 2018USD ($)
Schedule of future minimum net rent payments
Remaining 2,018	$ 19,311
2,019	78,887
2,020	80,492
2,021	72,677
2,022	73,538
Thereafter	528,803
Total	$ 853,708

Real Estate - In-Place Lease Va

Real Estate - In-Place Lease Valuation and Tenant Origination and Absorption Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Above Market Lease [Abstract]
In-place lease valuation (above market)	$ 4,046	$ 4,046
In-place lease valuation (above market), accumulated amortization	(1,030)	(752)
Intangible assets, net	3,016	3,294
Below Market Lease, Net [Abstract]
In-place lease valuation (below market)	(62,070)	(62,070)
In-place lease valuation (below market) - accumulated amortization	14,564	10,775
In-place lease valuation (below market), net	(47,506)	(51,295)
Tenant Origination and Absorption Cost
Finite-Lived Intangible Assets, Net [Abstract]
Tenant origination and absorption cost	240,364	240,364
Tenant origination and absorption cost - accumulated amortization	(65,264)	(47,165)
Tenant origination and absorption cost, net	$ 175,100	$ 193,199

Real Estate - Estimated Annual

Real Estate - Estimated Annual Amortization (Income) Expense for In-Place Lease (Details) $ in Thousands	Sep. 30, 2018USD ($)
Below Market Lease, Amortization Income, Maturity Schedule [Abstract]
Remaining 2,018	$ (1,170)
2,019	(4,695)
2,020	(4,695)
2,021	(3,799)
2,022	(3,799)
Tenant Origination and Absorption Cost
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remaining 2,018	6,033
2,019	24,198
2,020	24,198
2,021	19,715
2,022	$ 19,597

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Oct. 22, 2015
Debt Instrument [Line Items]
Total Debt		$ 490,055	$ 484,728
Unamortized deferred financing costs		(8,482)	(2,880)
Total debt		481,573	481,848
Mortgage Debt
Debt Instrument [Line Items]
Total Debt		376,970	126,970
Mortgage Debt | BofA / Key Bank Loan
Debt Instrument [Line Items]
Total Debt		$ 250,000	0
Contractual interest rate		4.32%
Effective interest rate (percent)		4.36%
Mortgage Debt | AIG Loan
Debt Instrument [Line Items]
Total Debt		$ 126,970	126,970
Contractual interest rate		4.15%
Effective interest rate (percent)		4.22%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total Debt		$ 85	357,758
Effective interest rate (percent)		3.65%
Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.50%	1.30%
Notes Payable, Other Payables | AIG Loan
Debt Instrument [Line Items]
Total debt				$ 127,000
Contractual interest rate				4.15%
Notes Payable, Other Payables | Term Loan
Debt Instrument [Line Items]
Total Debt		$ 113,000	$ 0
Effective interest rate (percent)		3.58%
Notes Payable, Other Payables | Term Loan | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		1.25%

Debt - Narrative (Details)

Debt - Narrative (Details)	Jun. 28, 2018USD ($)	Apr. 27, 2018USD ($)propertyentity	Mar. 31, 2018	Oct. 22, 2015USD ($)entity	Sep. 30, 2018USD ($)property	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Apr. 01, 2016USD ($)
Debt Instrument [Line Items]
Weighted average interest rate (percent)					3.81%
Number of wholly owned SPE | entity		4		6
Number of properties owned by special purpose entities | property		4
Proceeds used to pay down portion of credit facility					$ 357,673,000	$ 0
Long-term debt					$ 481,573,000		$ 481,848,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Initial term of debt instrument					4 years
Revolving credit facility, extension term					1 year
BofA / Key Bank Loan | Mortgage Debt
Debt Instrument [Line Items]
Contractual interest rate					4.32%
BofA / Key Bank Loan | Term Loan
Debt Instrument [Line Items]
Initial term of debt instrument		10 years
Loan amount borrowed		$ 250,000,000
Contractual interest rate		4.32%
Prior notice period required		30 days
AIG Loan | Mortgage Debt
Debt Instrument [Line Items]
Duration monthly payments of interest only					5 years
Contractual interest rate					4.15%
AIG Loan | Notes Payable, Other Payables
Debt Instrument [Line Items]
Duration monthly payments of interest only				5 years
Initial term of debt instrument				10 years
Contractual interest rate				4.15%
Prior notice period required				30 days
Long-term debt				$ 127,000,000
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Initial term of debt instrument	4 years
Revolving credit facility current borrowing capacity	$ 550,000,000
Revolving credit facility, maximum borrowing capacity	$ 1,250,000,000
Revolving credit facility, extension term	1 year
Number of pool properties called by debt covenant | property					15
Maximum aggregate pool value to be contributed by single pool property or tenant (percent)					15.00%
Maximum aggregate pool value that may be contributed by Pool Properties subject to ground leases (percent)					15.00%
Maximum aggregate pool value that may be contributed by Pool Properties under development (percent)					20.00%
Minimum aggregate leasing percentage of all Pool Properties (percent)					90.00%
Asset pool leverage ratio (percent)					60.00%
Debt service coverage ratio					135.00%
Remaining borrowing capacity					$ 214,700,000
Proceeds used to pay down portion of credit facility		$ 249,800,000
Number of wholly owned SPEs released from guarantor obligations | entity		4
Revolving Credit Facility | Key Bank Term Loan
Debt Instrument [Line Items]
Initial term of debt instrument	5 years
Revolving credit facility current borrowing capacity	$ 200,000,000
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
LIBOR as of the balance sheet date (percent)					2.11%
London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			1.50%		1.30%
Interest Rate Swap
Debt Instrument [Line Items]
Notional amount					$ 100,000,000			$ 100,000,000

Interest Rate Contracts - Narra

Interest Rate Contracts - Narrative (Details) - USD ($)	Apr. 30, 2018	Sep. 30, 2018	Dec. 31, 2017	Nov. 01, 2017	Apr. 01, 2016
Derivative [Line Items]
Income expected to be reclassified in next 12 months		$ 300,000
Interest Rate Swap
Derivative [Line Items]
Notional amount		100,000,000			$ 100,000,000
Derivative asset		310,000	$ 1,032,000
Collateral posted		0
Operating Partnership | Interest Rate Swap
Derivative [Line Items]
Derivative asset		0
Significant Other Observable Inputs | Operating Partnership | Interest Rate Swap
Derivative [Line Items]
Derivative asset			65,000
Recurring | Interest Rate Swap
Derivative [Line Items]
Derivative asset		310,000	1,032,000
Recurring | Significant Other Observable Inputs | Interest Rate Swap
Derivative [Line Items]
Derivative asset		$ 310,000	$ 1,032,000
Recurring | Significant Other Observable Inputs | Operating Partnership | Interest Rate Swap
Derivative [Line Items]
Notional amount of swaps novated				$ 100,000,000
Cash Flow Hedging | Swap
Derivative [Line Items]
Notional amount	$ 100,000,000
Net settlement received	$ 100,000

Interest Rate Contracts - Swap

Interest Rate Contracts - Swap Details (Details) - Interest Rate Swap - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Derivative asset	$ 310	$ 1,032
Recurring
Derivative [Line Items]
Derivative asset	$ 310	1,032
Significant Other Observable Inputs
Derivative [Line Items]
Fixed rate on derivative (percent)	0.74%
Significant Other Observable Inputs | Recurring
Derivative [Line Items]
Derivative asset	$ 310	1,032
Sponsor
Derivative [Line Items]
Derivative asset	310
Sponsor | Significant Other Observable Inputs
Derivative [Line Items]
Derivative asset		967
Operating Partnership
Derivative [Line Items]
Derivative asset	$ 0
Operating Partnership | Significant Other Observable Inputs
Derivative [Line Items]
Fixed rate on derivative (percent)	1.50%
Derivative asset		$ 65

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 ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) recognized in AOCI on derivatives	$ (281)	$ (190)
Amount of gain reclassified from AOCI into earnings under “Interest expense”	922	207
Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded	$ 14,775	$ 11,445

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 310	$ 1,032
Recurring | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	310	1,032
Recurring | Interest Rate Swap | 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	0
Recurring | Interest Rate Swap | Significant Other Observable Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	310	1,032
Recurring | Interest Rate Swap | Significant Unobservable Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Fair Value | AIG Loan | Mortgage Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt fair value	119,338	$ 122,928
Carrying Value | AIG Loan | Mortgage Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt fair value	$ 126,970

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
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 Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Prepaid rent	$ 4,866	$ 4,304
Leasing commission payable	1,900	3,783
Accrued property taxes	3,633	3,490
Interest expense payable	2,661	3,013
Redemptions payable	6,671	2,181
Other liabilities	2,034	3,132
Accrued expenses and other liabilities	$ 21,765	$ 19,903

Equity - Narrative (Details)

Equity - Narrative (Details)	3 Months Ended			9 Months Ended		67 Months Ended
	Sep. 30, 2018USD ($)$ / sharesshares	Sep. 30, 2018USD ($)shares	Sep. 30, 2017$ / sharesshares	Sep. 30, 2018USD ($)vote$ / sharesshares	Sep. 30, 2017$ / sharesshares	Sep. 30, 2018USD ($)$ / sharesshares	Jul. 05, 2018	Dec. 31, 2017USD ($)	Sep. 20, 2017USD ($)	Jul. 31, 2014USD ($)
Class of Stock [Line Items]
Offering amount in sales of shares										$ 2,200,000,000
Number of votes (in votes) | vote				1
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 (percent)				33.30%
Due to related parties	$ 18,988,000	$ 18,988,000		$ 18,988,000		$ 18,988,000		$ 16,896,000
Written notice needed to amend or terminate the DRP				10 days
Shares of common stock redeemed (shares) | shares				2,791,262
Stock redeemed				$ 5,292,000
Common stock subject to redemption	$ 37,401,000	$ 37,401,000		$ 37,401,000		$ 37,401,000		32,405,000
Share Redemption Program
Class of Stock [Line Items]
Shares of common stock redeemed (shares) | shares	585,525		146,083	1,306,834	413,842
Stock redeemed				$ 12,200,000
Weighted average price per share (in dollars per share) | $ / shares	$ 9.65		$ 9.06	$ 9.36	$ 9.18
New Share Redemption Program
Class of Stock [Line Items]
Minimum holding period for redemption of stock				1 year
Redemption price as percentage of Net Asset Value of outstanding shares (percent)	100.00%	100.00%		100.00%		100.00%	100.00%
Shares of common stock redeemed (shares) | shares	693,487	693,487	0	693,487	0
Stock redeemed						$ 6,700,000
Weighted average price per share (in dollars per share) | $ / shares	$ 9.62		$ 0	$ 9.62	$ 0
Average price per share of stock repurchased (in usd per share) | $ / shares						$ 9.62
Minimum ownership percentage under share redemption program (percent)	$ 2,500	$ 2,500		$ 2,500		$ 2,500
Quarterly redemption cap as percentage of Net Asset Value of outstanding shares (percent)				5.00%
Common stock subject to redemption	37,400,000	37,400,000		$ 37,400,000		37,400,000
Written notice required to modify or suspend program				30 days
IPO
Class of Stock [Line Items]
Offering amount in sales of shares										2,000,000,000
IPO | Share Redemption Program
Class of Stock [Line Items]
Minimum holding period for redemption of stock				4 years
IPO | New Share Redemption Program
Class of Stock [Line Items]
Minimum holding period for redemption of stock				4 years
Follow-on Offering
Class of Stock [Line Items]
Offering amount in sales of shares									$ 2,200,000,000
Primary Offering
Class of Stock [Line Items]
Offering amount in sales of shares									2,000,000,000
Distribution Reinvestment Plan
Class of Stock [Line Items]
Common stock of the Company pursuant to the distribution reinvestment plan (in shares)									$ 200,000,000	$ 200,000,000
Common stock reclassified from common stock to accrued expenses and other liabilities	6,700,000	6,700,000		$ 6,700,000		6,700,000
Organizational and offering costs incurred | IPO
Class of Stock [Line Items]
Cumulative organizational costs	3,300,000	3,300,000		3,300,000		3,300,000
Proceeds from offering				10,000,000
Organizational and offering costs advanced by the Advisor
Class of Stock [Line Items]
Cumulative organizational costs	510,000	510,000		510,000		510,000
Due to related parties	1,305,000	1,305,000		1,305,000		1,305,000		$ 192,000
Organizational and offering costs advanced by the Advisor | If Proposed Offering Terminated
Class of Stock [Line Items]
Due to related parties	1,500,000	1,500,000		1,500,000		1,500,000
Due from related parties	1,800,000	1,800,000		1,800,000		1,800,000
Organizational and offering costs advanced by the Advisor | Due to Affiliates
Class of Stock [Line Items]
Due from related parties	700,000	700,000		700,000		700,000
Organizational and offering costs advanced by the Advisor | Other Assets
Class of Stock [Line Items]
Due from related parties	$ 1,100,000	$ 1,100,000		$ 1,100,000		$ 1,100,000
Common Stock | Share Redemption Program
Class of Stock [Line Items]
Shares of common stock redeemed (shares) | shares						2,097,775
Stock redeemed						$ 19,600,000
Average price per share of stock repurchased (in usd per share) | $ / shares						$ 9.34

Equity - Shares Issued and Gros

Equity - Shares Issued and Gross Proceeds (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Total redemptions (shares)	(2,791,262)
Total shares outstanding (in shares)	77,660,266	77,175,283
Class T
Class of Stock [Line Items]
Total redemptions (shares)	0
Total shares outstanding (in shares)	226,297	4,148
Class S
Class of Stock [Line Items]
Total redemptions (shares)	0
Total shares outstanding (in shares)	277	268
Class D
Class of Stock [Line Items]
Total redemptions (shares)	0
Total shares outstanding (in shares)	19,157	268
Class I
Class of Stock [Line Items]
Total redemptions (shares)	0
Total shares outstanding (in shares)	803,069	267,476
Class A
Class of Stock [Line Items]
Total redemptions (shares)	(1,351,178)
Total shares outstanding (in shares)	25,781,325	25,995,943
Class AA
Class of Stock [Line Items]
Total redemptions (shares)	(1,434,491)
Total shares outstanding (in shares)	49,840,818	49,942,471
Class AAA
Class of Stock [Line Items]
Total redemptions (shares)	(5,593)
Total shares outstanding (in shares)	989,323	964,709
IPO
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 733,987
Common stock, number of shares issued (in shares)	73,694,264
IPO | Class T
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 2,245
Common stock, number of shares issued (in shares)	224,647
IPO | Class S
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 3
Common stock, number of shares issued (in shares)	264
IPO | Class D
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 182
Common stock, number of shares issued (in shares)	18,921
IPO | Class I
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 7,538
Common stock, number of shares issued (in shares)	786,573
IPO | Class A
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 240,780
Common stock, number of shares issued (in shares)	24,199,764
IPO | Class AA
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 474,858
Common stock, number of shares issued (in shares)	47,562,870
IPO | Class AAA
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 8,381
Common stock, number of shares issued (in shares)	901,225
Distribution Reinvestment Plan
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 58,376
Common stock, number of shares issued (in shares)	6,152,779
Distribution Reinvestment Plan | Class T
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 16
Common stock, number of shares issued (in shares)	1,650
Distribution Reinvestment Plan | Class S
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 0
Common stock, number of shares issued (in shares)	13
Distribution Reinvestment Plan | Class D
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 2
Common stock, number of shares issued (in shares)	236
Distribution Reinvestment Plan | Class I
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 158
Common stock, number of shares issued (in shares)	16,496
Distribution Reinvestment Plan | Class A
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 25,328
Common stock, number of shares issued (in shares)	2,669,097
Distribution Reinvestment Plan | Class AA
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 32,369
Common stock, number of shares issued (in shares)	3,412,273
Distribution Reinvestment Plan | Class AAA
Class of Stock [Line Items]
Gross proceeds received to date of shares issued	$ 503
Common stock, number of shares issued (in shares)	53,014
Share Distribution
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	568,485
Share Distribution | Class T
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Share Distribution | Class S
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Share Distribution | Class D
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Share Distribution | Class I
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Share Distribution | Class A
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	263,642
Share Distribution | Class AA
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	300,166
Share Distribution | Class AAA
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	4,677
Restricted stock units issued
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	36,000
Restricted stock units issued | Class T
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Restricted stock units issued | Class S
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Restricted stock units issued | Class D
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Restricted stock units issued | Class I
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Restricted stock units issued | Class A
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Restricted stock units issued | Class AA
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	0
Restricted stock units issued | Class AAA
Class of Stock [Line Items]
Common stock, number of shares issued (in shares)	36,000

Equity - Organizational Costs (

Equity - Organizational Costs (Details) - Organizational and offering costs advanced by the Advisor $ in Thousands	Sep. 30, 2018USD ($)
Related Party Transaction [Line Items]
Cumulative offering costs	$ 2,806
Cumulative organizational costs	510
Organizational and offering costs advanced by the Advisor	1,998
Organizational and offering costs paid by the Company	1,318
Costs in excess of limit	(1,820)
Organizational and offering costs incurred	$ 1,496

Equity - Shares Redeemed (Detai

Equity - Shares Redeemed (Details) - $ / shares	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Equity, Class of Treasury Stock [Line Items]
Shares of common stock redeemed (shares)				2,791,262
New Share Redemption Program
Equity, Class of Treasury Stock [Line Items]
Shares of common stock redeemed (shares)	693,487	693,487	0	693,487	0
Weighted average price per share (in dollars per share)	$ 9.62		$ 0	$ 9.62	$ 0
Share Redemption Program
Equity, Class of Treasury Stock [Line Items]
Shares of common stock redeemed (shares)	585,525		146,083	1,306,834	413,842
Weighted average price per share (in dollars per share)	$ 9.65		$ 9.06	$ 9.36	$ 9.18

Noncontrolling Interests - Narr

Noncontrolling Interests - Narrative (Details) - $ / shares	Feb. 16, 2018	Sep. 30, 2018	Feb. 11, 2014
Operating Partnership
Noncontrolling Interest [Line Items]
Number of common shares that can be issued by Operating Partnership upon redemption of each limited partnership units (shares)		1
Duration required prior to which partners can exercise their redemption rights		1 year
Operating Partnership | Limited Partner
Noncontrolling Interest [Line Items]
Limited partnership units issued (in shares)			20,000
Price per partnership unit (in USD per share)			$ 10
Shares Outstanding | Operating Partnership
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners (percent)		0.18%
Weighted Average Shares Outstanding | Operating Partnership
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners (percent)		0.16%
The Advisor
Noncontrolling Interest [Line Items]
Limited partnership units issued (in shares)	123,779
Price per partnership unit (in USD per share)	$ 9.57
Percentage of performance distribution allocation	50.00%

Noncontrolling Interests - Sche

Noncontrolling Interests - Schedule of Noncontrolling Interests (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	$ 76
Issuance of limited partnership units	1,185
Distributions to noncontrolling interest	(50)	$ (11)
Net (loss) income allocation	(431)	11,119
Other comprehensive loss	(641)	108
Ending balance	1,208	76
Non- controlling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	76	84
Issuance of limited partnership units	1,185	0
Distributions to noncontrolling interest	(50)	(11)
Net (loss) income allocation	(1)	3
Other comprehensive loss	(2)
Other comprehensive loss		0
Ending balance	$ 1,208	$ 76

Related Party Transactions - Sc

Related Party Transactions - Schedule of Transactions (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Due to Related Parties [Roll Forward]
Incurred	$ 19,051	$ 16,502
Due to affiliates	18,988		$ 16,896
Corporate operating expenses
Due to Related Parties [Roll Forward]
Incurred	2,168	1,677
Due to affiliates	806		658
Asset management fees
Due to Related Parties [Roll Forward]
Incurred	0	8,027
Due to affiliates	0		0
Property management fees
Due to Related Parties [Roll Forward]
Incurred	1,365	1,347
Due to affiliates	153		158
Performance distribution allocation
Due to Related Parties [Roll Forward]
Incurred	6,200	213
Due to affiliates	6,224		2,394
Advisory fees
Due to Related Parties [Roll Forward]
Incurred	6,970	273
Due to affiliates	784		762
Capitalized Offering - Acquisition fees and expenses
Due to Related Parties [Roll Forward]
Incurred	0	1,099
Due to affiliates	0		0
Capitalized/Offering - Organization and offering expense
Due to Related Parties [Roll Forward]
Incurred	1,113	250
Due to affiliates	1,305		192
Capitalized/Offering - Other costs advanced by the Advisor
Due to Related Parties [Roll Forward]
Incurred	938	604
Due to affiliates	319		285
Capitalized/Offering - Selling commissions
Due to Related Parties [Roll Forward]
Incurred	66	1,127
Due to affiliates	0		0
Capitalized/Offering - Dealer Manager fees
Due to Related Parties [Roll Forward]
Incurred	11	393
Due to affiliates	0		0
Capitalized/Offering - Stockholder servicing fee
Due to Related Parties [Roll Forward]
Incurred	175	565
Due to affiliates	9,353		12,377
Organization and offering expenses
Due to Related Parties [Roll Forward]
Incurred	45	136
Due to affiliates	44		8
Advisor advances - Dealer Manager fees
Due to Related Parties [Roll Forward]
Incurred	0	$ 791
Due to affiliates	$ 0		$ 62

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) $ in Thousands, ft² in Millions	Feb. 16, 2018USD ($)	Sep. 20, 2017USD ($)shares	Sep. 30, 2018USD ($)ft²shares	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Area of real estate property (in sqft) | ft²			7.3
Total transaction price			$ 1,182,057		$ 1,178,866
Percent of organizational and offering costs limit (percent)			15.00%
Incurred			$ 19,051	$ 16,502
Underwriting compensation, percent of gross proceeds			9.00%
Outstanding shares owned by affiliates (shares) | shares			563,440
Class T
Related Party Transaction [Line Items]
Daily accrual rate for shares sold (percent)			0.00274%
Class S
Related Party Transaction [Line Items]
Daily accrual rate for shares sold (percent)			0.00274%
Class D
Related Party Transaction [Line Items]
Daily accrual rate for shares sold (percent)			0.00068%
The Advisor
Related Party Transaction [Line Items]
Shares sold to Advisor (shares) | shares		263,992
Shares sold to Advisor		$ 2,500
Organizational and offering costs advanced by the Advisor
Related Party Transaction [Line Items]
Incurred			$ 1,113	250
Advisory Agreement | Class T
Related Party Transaction [Line Items]
Daily accrual rate for shares sold (percent)			0.00342%
Performance distribution allocation
Related Party Transaction [Line Items]
Performance Distribution, Hurdle Rate, Annualized Rate Of Return On Net Asset Value			5.50%
Related Party Transaction, Amounts of Transaction	$ 1,200
Percentage of performance distribution allocation			12.50%
Incurred			$ 6,200	213
Dealer Manager Agreement
Related Party Transaction [Line Items]
Underwriting compensation, percent of gross proceeds			10.00%
Dealer Manager Agreement | Class T
Related Party Transaction [Line Items]
Daily accrual rate for shares sold (percent)			0.00274%
Dealer Manager Agreement | Class AA
Related Party Transaction [Line Items]
Organizational and offering costs advanced by and due to the Advisor (percent)			4.00%
Dealer Distribution Fee
Related Party Transaction [Line Items]
Underwriting compensation, percent of gross proceeds			9.00%
Dealer Distribution Fee | Class T
Related Party Transaction [Line Items]
Daily accrual rate for shares sold (percent)			0.00068%
Advisor Distribution Fee | Class T
Related Party Transaction [Line Items]
Daily accrual rate for shares sold (percent)			0.00205%
Reimbursement, Services Provided That Are not Entitled to Advisor Fees | The Advisor
Related Party Transaction [Line Items]
Incurred			$ 600	500
Reimbursement, Reimbursible Expenses
Related Party Transaction [Line Items]
Average invested assets for preceding 12 months (percent)			2.00%
Percentage of Company's net income before addition of reserves (percent)			25.00%
Reimbursement, Reimbursible Expenses | The Advisor
Related Party Transaction [Line Items]
Incurred			$ 70	$ 100
Acquisition fees and expenses
Related Party Transaction [Line Items]
Area of real estate property (in sqft) | ft²			1
Total transaction price			$ 80,000
Limited partnership units | Performance distribution allocation
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 1,200
Related Party Transaction, Cash Election	50.00%

Declaration of Distributions -

Declaration of Distributions - Narrative (Details) - $ / shares	Sep. 12, 2018	May 09, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Declaration of Distributions [Abstract]
Dividends paid (in USD per share)			$ 0.0015068493
Distributions declared, daily accrual (usd per share)	$ 0.0015068493	$ 0.0015068493	$ 0.14	$ 0.14	$ 0.42	$ 0.42

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 07, 2018	Oct. 03, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Subsequent Event [Line Items]
Issuance of shares for distribution reinvestment plan					$ 16,422	$ 16,546
Shares of common stock redeemed (shares)					2,791,262
Stock redeemed					$ 5,292
Subsequent Event | Distribution Reinvestment Plan
Subsequent Event [Line Items]
Issuance of shares for distribution reinvestment plan (shares)	7,372,224
Issuance of shares for distribution reinvestment plan	$ 70,200
Share Redemption Program
Subsequent Event [Line Items]
Shares of common stock redeemed (shares)			585,525	146,083	1,306,834	413,842
Stock redeemed					$ 12,200
Weighted average price per share (in dollars per share)			$ 9.65	$ 9.06	$ 9.36	$ 9.18
Share Redemption Program | Subsequent Event
Subsequent Event [Line Items]
Stock redeemed		$ 6,700
Weighted average price per share (in dollars per share)		$ 9.62