Cedar Realty Trust (CDR-PC) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document And Entity Information [Abstract]
Document type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017
Trading Symbol	CDR
Entity Registrant Name	CEDAR REALTY TRUST, INC.
Entity Central Index Key	761,648
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		91,316,792

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Land	$ 304,237,000	$ 301,299,000
Buildings and improvements	1,225,171,000	1,195,130,000
Real estate, gross	1,529,408,000	1,496,429,000
Less accumulated depreciation	(332,893,000)	(313,070,000)
Real estate, net	1,196,515,000	1,183,359,000
Real estate held for sale	1,815,000
Cash and cash equivalents	2,240,000	2,882,000
Restricted cash	2,523,000	2,880,000
Receivables	17,275,000	14,894,000
Other assets and deferred charges, net	35,421,000	29,506,000
TOTAL ASSETS	1,255,789,000	1,233,521,000
LIABILITIES AND EQUITY
Mortgage loans payable	135,815,000	138,243,000
Unsecured revolving credit facility	95,000,000	72,000,000
Unsecured term loans	396,855,000	397,502,000
Accounts payable and accrued liabilities	30,572,000	23,463,000
Unamortized intangible lease liabilities	18,325,000	20,316,000
Total liabilities	676,567,000	651,524,000
Commitments and contingencies
Equity:
Common stock ($.06 par value, 150,000,000 shares authorized, 91,319,000 and 85,316,000 shares, issued and outstanding, respectively)	5,479,000	5,119,000
Treasury stock (3,367,000 and 3,264,000 shares, respectively, at cost)	(18,539,000)	(18,129,000)
Additional paid-in capital	876,121,000	829,526,000
Cumulative distributions in excess of net income	(445,007,000)	(426,864,000)
Accumulated other comprehensive income	2,012,000	427,000
Total Cedar Realty Trust, Inc. shareholders' equity	577,754,000	580,740,000
Noncontrolling interests:
Minority interests in consolidated joint ventures	(739,000)	(1,132,000)
Limited partners' OP Units	2,207,000	2,389,000
Total noncontrolling interests	1,468,000	1,257,000
Total equity	579,222,000	581,997,000
TOTAL LIABILITIES AND EQUITY	1,255,789,000	1,233,521,000
Series B [Member]
Equity:
Preferred stock ($.01 par value, 12,500,000 shares authorized):	82,734,000	$ 190,661,000
Series C [Member]
Equity:
Preferred stock ($.01 par value, 12,500,000 shares authorized):	$ 74,954,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Preferred stock, shares par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	12,500,000	12,500,000
Common stock, shares par value	$ 0.06	$ 0.06
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	91,319,000	85,316,000
Common stock, shares outstanding	91,319,000	85,316,000
Treasury stock, shares	3,367,000	3,264,000
Series B [Member]
Preferred stock, shares authorized	3,450,000	10,000,000
Liquidation preference, per share	$ 25	$ 25
Preferred stock, shares issued	3,450,000	7,950,000
Preferred stock, shares outstanding	3,450,000	7,950,000
Series C [Member]
Preferred stock, shares authorized	6,050,000	0
Liquidation preference, per share	$ 25	$ 25
Preferred stock, shares issued	3,000,000	0
Preferred stock, shares outstanding	3,000,000	0

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
REVENUES
Rents	$ 28,362,000	$ 30,159,000	$ 84,790,000	$ 89,186,000
Expense recoveries	7,436,000	7,523,000	22,796,000	23,952,000
Other	600,000	111,000	1,285,000	778,000
Total revenues	36,398,000	37,793,000	108,871,000	113,916,000
EXPENSES
Operating, maintenance and management	5,578,000	5,555,000	18,084,000	18,346,000
Real estate and other property-related taxes	4,931,000	5,019,000	14,597,000	14,840,000
General and administrative	4,121,000	4,318,000	12,494,000	13,640,000
Acquisition pursuit costs		293,000	156,000	3,417,000
Depreciation and amortization	9,807,000	10,413,000	30,178,000	31,046,000
Total expenses	24,437,000	25,598,000	75,509,000	81,289,000
OTHER
Gain on sale			7,099,000	59,000
Impairment charges		(6,270,000)	(9,850,000)	(6,270,000)
Total other		(6,270,000)	(2,751,000)	(6,211,000)
OPERATING INCOME	11,961,000	5,925,000	30,611,000	26,416,000
NON-OPERATING INCOME AND EXPENSES
Interest expense	(5,544,000)	(6,636,000)	(16,638,000)	(20,769,000)
Early extinguishment of debt costs		(50,000)		(37,000)
Total non-operating income and expenses	(5,544,000)	(6,686,000)	(16,638,000)	(20,806,000)
NET INCOME (LOSS)	6,417,000	(761,000)	13,973,000	5,610,000
Net (income) loss attributable to noncontrolling interests:
Minority interests in consolidated joint ventures	(138,000)	59,000	(393,000)	239,000
Limited partners' interest in Operating Partnership	21,000	15,000	22,000	15,000
Total net (income) loss attributable to noncontrolling interests	(117,000)	74,000	(371,000)	254,000
NET INCOME (LOSS) ATTRIBUTABLE TO CEDAR REALTY TRUST, INC.	6,300,000	(687,000)	13,602,000	5,864,000
Preferred stock dividends	(3,535,000)	(3,602,000)	(10,739,000)	(10,806,000)
Preferred stock redemption costs	(7,890,000)		(7,890,000)
NET (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (5,125,000)	$ (4,289,000)	$ (5,027,000)	$ (4,942,000)
NET (LOSS) PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS (BASIC AND DILUTED)	$ (0.06)	$ (0.05)	$ (0.07)	$ (0.07)
Weighted average number of common shares - basic and diluted	85,642,000	81,676,000	83,049,000	81,670,000

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Loss) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 6,417,000	$ (761,000)	$ 13,973,000	$ 5,610,000
Other comprehensive income - unrealized gain (loss) on change in fair value of cash flow hedges	1,279,000	2,506,000	1,591,000	(7,060,000)
Comprehensive income (loss)	7,696,000	1,745,000	15,564,000	(1,450,000)
Comprehensive (income) loss attributable to noncontrolling interests	(122,000)	59,000	(377,000)	279,000
Comprehensive income (loss) attributable to Cedar Realty Trust, Inc.	$ 7,574,000	$ 1,804,000	$ 15,187,000	$ (1,171,000)

Consolidated Statement Of Equit

Consolidated Statement Of Equity - 9 months ended Sep. 30, 2017 - USD ($)	Total	Limited Partners' Interest In Operating Partnership [Member]	Preferred Stock [Member]Series B [Member]	Preferred Stock [Member]Series C [Member]	Common Stock [Member]	Treasury Stock, At Cost [Member]	Additional Paid-In Capital [Member]	Cumulative Distributions In Excess Of Net Income [Member]	Accumulated Other Comprehensive Income [Member]	Cedar Shopping Centers, Inc. [Member]	Minority Interests In Consolidated Joint Ventures [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2016	$ 581,997,000	$ 2,389,000	$ 190,661,000		$ 5,119,000	$ (18,129,000)	$ 829,526,000	$ (426,864,000)	$ 427,000	$ 580,740,000	$ (1,132,000)	$ 1,257,000
Balance, shares at Dec. 31, 2016			7,950,000		85,316,000
Net income (loss)	13,973,000	(22,000)						13,602,000		13,602,000	393,000	371,000
Unrealized gain on change in fair value of flow hedges	1,591,000	6,000							1,585,000	1,585,000		6,000
Share-based compensation, net	2,589,000				$ 15,000	(410,000)	2,984,000			2,589,000
Share-based compensation, net, shares					251,000
Net proceeds from sales of Series C Shares	72,337,000			$ 74,954,000			(2,617,000)			72,337,000
Net proceeds from sales of Series C Shares, Shares				3,000,000
Redemptions of Series B Shares	(112,510,000)		$ (107,927,000)				3,307,000	(7,890,000)		(112,510,000)
Redemptions of Series B Shares, Shares			(4,500,000)
Common stock sales, net of issuance expenses	43,164,000				$ 345,000		42,819,000			43,164,000
Common stock sales, net of issuance expenses, shares					5,752,000
Preferred stock dividends	(10,739,000)							(10,739,000)		(10,739,000)
Distributions to common shareholders/noncontrolling interests	(13,169,000)	(53,000)						(13,116,000)		(13,116,000)		(53,000)
Redemption of OP Units	(11,000)	(11,000)										(11,000)
Reallocation adjustment of limited partners' interest		(102,000)					102,000			102,000		(102,000)
Balance at Sep. 30, 2017	$ 579,222,000	$ 2,207,000	$ 82,734,000	$ 74,954,000	$ 5,479,000	$ (18,539,000)	$ 876,121,000	$ (445,007,000)	$ 2,012,000	$ 577,754,000	$ (739,000)	$ 1,468,000
Balance, shares at Sep. 30, 2017			3,450,000	3,000,000	91,319,000

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES
Net income	$ 13,973,000	$ 5,610,000
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales	(7,099,000)	(59,000)
Impairment charges	9,850,000	6,270,000
Straight-line rents	(787,000)	73,000
Provision for doubtful accounts	1,215,000	964,000
Depreciation and amortization	30,178,000	31,046,000
Amortization of intangible lease liabilities, net	(1,900,000)	(2,105,000)
Expense relating to share-based compensation, net	2,693,000	2,145,000
Amortization (including accelerated write-off) of deferred financing costs	1,040,000	1,214,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Rents and other receivables	(3,112,000)	(1,833,000)
Prepaid expenses and other	(5,736,000)	(4,549,000)
Accounts payable and accrued liabilities	1,827,000	1,791,000
Net cash provided by operating activities	42,142,000	40,567,000
INVESTING ACTIVITIES
Acquisitions of real estate	(32,442,000)	(31,928,000)
Expenditures for real estate improvements	(17,115,000)	(10,487,000)
Net proceeds from sales of real estate	10,372,000	14,494,000
Construction escrows and other	(303,000)	2,427,000
Net cash (used in) investing activities	(39,488,000)	(25,494,000)
FINANCING ACTIVITIES
Repayments under revolving credit facility	(134,500,000)	(106,000,000)
Advances under revolving credit facility	157,500,000	158,000,000
Advances under term loans		100,000,000
Mortgage borrowing		50,000,000
Mortgage repayments	(2,496,000)	(189,437,000)
Payments of debt financing costs	(2,498,000)	(1,400,000)
Noncontrolling interests:
Distributions to limited partners	(53,000)	(53,000)
Redemptions of OP Units	(11,000)	(8,000)
Net proceeds from sale of preferred stock	72,337,000
Redemptions of preferred stock	(112,510,000)
Common stock sales less issuance expenses, net	43,164,000	(161,000)
Preferred stock dividends	(11,113,000)	(10,806,000)
Distributions to common shareholders	(13,116,000)	(12,783,000)
Net cash (used in) financing activities	(3,296,000)	(12,648,000)
Net (decrease) increase in cash and cash equivalents	(642,000)	2,425,000
Cash and cash equivalents at beginning of period	2,882,000	2,083,000
Cash and cash equivalents at end of period	$ 2,240,000	$ 4,508,000

Business And Organization

Business And Organization	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Business And Organization	Note 1. Business and Organization Cedar Realty Trust, Inc. (the “Company”) is a real estate investment trust (“REIT”) that focuses primarily on ownership, operation and redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington, D.C. to Boston. At September 30, 2017, the Company owned and managed a portfolio of 61 operating properties (excluding properties “held for sale”). Cedar Realty Trust Partnership, L.P. (the “Operating Partnership”) is the entity through which the Company conducts substantially all of its business and owns (either directly or through subsidiaries) substantially all of its assets. At September 30, 2017, the Company owned a 99.6% economic interest in, and was the sole general partner of, the Operating Partnership. The limited partners’ interest in the Operating Partnership (0.4% at September 30, 2017) is represented by Operating Partnership Units (“OP Units”). The carrying amount of such interest is adjusted at the end of each reporting period to an amount equal to the limited partners’ ownership percentage of the Operating Partnership’s net equity. The 349,000 OP Units outstanding at September 30, 2017 are economically equivalent to the Company’s common stock. The holders of OP Units have the right to exchange their OP Units for the same number of shares of the Company’s common stock or, at the Company’s option, for cash. As used herein, the “Company” refers to Cedar Realty Trust, Inc. and its subsidiaries on a consolidated basis, including the Operating Partnership or, where the context so requires, Cedar Realty Trust, Inc. only.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Principles of Consolidation/Basis of Preparation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and include all of the information and disclosures required by U.S. Generally Accepted Accounting Principles (“GAAP”) for interim reporting. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statement disclosures. In the opinion of management, all adjustments necessary for fair presentation (including normal recurring accruals) have been included. The financial statements are prepared on the accrual basis in accordance with GAAP, which requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. Actual results could differ from these estimates. The unaudited consolidated financial statements in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. The unaudited consolidated financial statements include the accounts and operations of the Company, the Operating Partnership, its subsidiaries, and certain joint venture partnerships in which it participates. The Company consolidates all variable interest entities for which it is the primary beneficiary. Supplemental Consolidated Statements of Cash Flows Information Nine months ended September 30, 2017 2016 Supplemental disclosure of cash activities: Cash paid for interest $ 15,945,000 $ 20,872,000 Supplemental disclosure of non-cash activities: Capitalization of interest and financing costs 483,000 541,000 Mortgage loan payable assumed upon acquisition — (8,501,000 ) Recently-Issued Accounting Pronouncements In May 2014, the FASB issued guidance which amends the accounting for revenue recognition. Under the amended guidance, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled to and receive in exchange for those goods or services. Leases are specifically excluded from this guidance and will be governed by the applicable lease codification; however, this update may have implications with respect to certain variable payment terms included in lease agreements. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption not permitted. The Company is in the final stages of evaluating the guidance and has identified non-lease components in its lease agreements. However, these non-lease components are not in the scope of the revenue standard until the lease accounting standard is adopted, and their materiality is currently in the process of being evaluated. Upon the adoption of the revenue standard, the Company does not believe there will be a material effect on its consolidated financial statements. In February 2016, the FASB issued guidance which 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. The guidance requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than twelve months regardless of their classification. Leases with a term of twelve months or less will be accounted for pursuant to existing guidance for operating leases. The guidance is expected to result in the recognition of a right-to-use asset and related liability to account for the Company’s future obligations under its ground lease and executive office lease agreements for which the Company is the lessee. Additionally, the guidance will require that lessees and lessors capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. Under this guidance, allocated payroll costs and other costs that are incurred regardless of whether the lease is obtained will no longer be capitalized as initial direct costs and instead will be expensed as incurred. Lessors will continue to account for leases using an approach that is substantially equivalent to existing guidance for operating and other leases. The new lease accounting guidance requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption being permitted. The Company is currently in the process of evaluating the impact the adoption of the guidance will have on its consolidated financial statements. In March 2016, the FASB issued guidance which amends the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, classification on the statement of cash flows, and the policy election with respect to accounting for forfeitures either as they occur or by estimating forfeitures. The guidance was adopted on January 1, 2017. The Company has elected to account for forfeitures as they occur, and the guidance did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued guidance which enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better calculate credit loss estimates. The guidance will apply to most financial assets measured at amortized cost and certain other instruments, including accounts receivable, straight-line rent receivables, loans, held-to-maturity debt securities, net investments in leases, and off-balance-sheet credit exposures. The guidance will require that the Company estimate the lifetime expected credit loss with respect to these receivables and record allowances that, when deducted from the balance of the receivables, represent the net amounts expected to be collected. The Company will also be required to disclose information about how it developed the allowances, including changes in the factors that influenced the Company’s estimate of expected credit losses and the reasons for those changes. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2019. The Company is currently in the process of evaluating the impact the adoption of the guidance will have on its consolidated financial statements. In August 2016, the FASB issued guidance that clarifies how an entity should classify certain cash receipts and cash payments on its statement of cash flows. The guidance established that an entity will classify cash payments for debt prepayment or extinguishment costs as financing cash flows. In addition, the guidance provides entities with an alternative to consider regarding the nature of the source of distributions that an investor receives from an equity method investment when classifying distributions received in its cash flow statement (the nature of the distribution approach). Alternatively, entities can elect to classify the distributions received from equity method investees based on the cumulative earnings approach. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption being permitted. The Company has evaluated the guidance and does not believe it will have a material impact on the Company’s consolidated financial statements. In November 2016, the FASB issued guidance that will require entities to show the changes in the total of cash, cash equivalents and restricted cash in the statement of cash flows. When cash, cash equivalents and restricted cash are presented in more than one line item on the balance sheet, the new guidance requires a reconciliation of the totals in the statement of cash flows to the related captions on the balance sheet. This reconciliation can be presented either on the face of the statement of cash flows or in the notes to the financial statements. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption being permitted. The Company has evaluated the guidance and does not believe it will have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued guidance which changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The guidance requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset and/or a group of similar identifiable assets; if these criteria are met, the set of transferred assets and activities is not a business. The guidance also requires a business to include at least one substantive process and narrows the definition of outputs by more closely aligning it with how outputs are described in the guidance on revenue from contracts with customers. The guidance is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption being permitted. The Company has elected to early adopt this guidance effective January 1, 2017. The Company believes that most of its typical acquisitions of real estate will not meet the new definition of a business, and accordingly, will result in the capitalization of associated acquisition pursuit costs, as is the case regarding all acquisitions in 2017.

Real Estate

Real Estate	9 Months Ended
	Sep. 30, 2017
Real Estate [Abstract]
Real Estate	Note 3. Real Estate Acquisitions On February 22, 2017, the Company acquired Christina Crossing, located in Wilmington, Delaware. The purchase price for the property, which was unencumbered, was $27.9 million. The purchase price has been allocated to real estate assets acquired and liabilities assumed. On July 6, 2017, the Company acquired a parcel adjacent to its South Philadelphia Shopping Center for future expansion. The purchase price for the property, which was unencumbered, was $3.3 million. The purchase price has been allocated to real estate assets acquired and liabilities assumed. Disposition On February 1, 2017, the Company sold an outparcel building adjacent to Camp Hill, located in Camp Hill, Pennsylvania, for $10.7 million, resulting in a $7.1 million gain which is included in operating income in the accompanying consolidated statement of operations. Real Estate Held for Sale The Company, when applicable, conducts a continuing review of the values for all properties “held for sale” based on final sales prices and sales contracts entered into. Impairment charges/reversals, if applicable, are based on a comparison of the carrying values of the properties with either (1) actual sales prices less costs to sell for properties sold, or contract amounts for properties in the process of being sold, (2) estimated sales prices, less costs to sell, based on discounted cash flow analyses, if no contract amounts are being negotiated (see Note 4 - “Fair Value Measurements”), or (3) with respect to land parcels, estimated sales prices, less costs to sell, based on comparable sales completed in the selected market areas. Prior to the Company’s determination to dispose of properties, which are subsequently reclassified to “held for sale”, the Company performed recoverability analyses based on the estimated undiscounted cash flows that were expected to result from the real estate investments’ use and eventual disposal. The projected undiscounted cash flows of each property reflects that the carrying value of each real estate investment would be recovered. However, as a result of the properties’ meeting the “held for sale” criteria, such properties were written down to the lower of their carrying value and estimated fair values less costs to sell. As of September 30, 2017, Fredericksburg Way, located in Fredericksburg, Virginia, has been classified as “real estate held for sale” on the accompanying consolidated balance sheet. The Company recorded an impairment charge of $9.9 million during 2017, which is included in operating income in the accompanying consolidated statement of operations.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4. Fair Value Measurements The carrying amounts of cash and cash equivalents, restricted cash, rents and other receivables, certain other assets, accounts payable and accrued liabilities, and variable-rate debt approximate their fair value due to their terms and/or short-term nature. The fair value of the Company’s investments and liabilities related to share-based compensation were determined to be Level 1 within the valuation hierarchy, and were based on independent values provided by financial institutions. The fair value of the Company’s fixed rate mortgage loans were estimated using available market information and discounted cash flow analyses based on borrowing rates the Company believes it could obtain with similar terms and maturities. As of September 30, 2017 and December 31, 2016, the aggregate fair values of the Company’s fixed rate mortgage loans payable, which were determined to be Level 3 within the valuation hierarchy, were $138.6 million and $143.2 million, respectively; the carrying values of such loans were $135.8 million and $138.2 million, respectively. As of September 30, 2017 and December 31, 2016, respectively, the aggregate fair values of the Company’s unsecured revolving credit facility and term loans approximated the carrying values. The valuation of the assets and liabilities for the Company’s interest rate swaps, which are measured on a recurring basis, were determined to be Level 2 within the valuation hierarchy, and were based on independent values provided by financial institutions. Such valuations were determined using widely accepted valuation techniques, including discounted cash flow analyses, on the expected cash flows of each derivative. The analyses reflect the contractual terms of the swaps, including the period to maturity, and user-observable market-based inputs, including interest rate curves (“significant other observable inputs”). The fair value calculation also includes an amount for risk of non-performance using “significant unobservable inputs” such as estimates of current credit spreads to evaluate the likelihood of default. The Company has concluded that, as of September 30, 2017, the fair value associated with the “significant unobservable inputs” relating to the Company’s risk of non-performance was insignificant to the overall fair value of the interest rate swap agreements and, as a result, that the relevant inputs for purposes of calculating the fair value of the interest rate swap agreements, in their entirety, were based upon “significant other observable inputs”. Nonfinancial assets and liabilities measured at fair value in the consolidated financial statements consist of real estate held for sale, which, if applicable, are measured on a nonrecurring basis, and have been determined to be (1) Level 2 within the valuation hierarchy, where applicable, based on the respective contracts of sale, adjusted for closing costs and expenses, or (2) Level 3 within the valuation hierarchy, where applicable, based on estimated sales prices, adjusted for closing costs and expenses, determined by discounted cash flow analyses, direct capitalization analyses or a sales comparison approach if no contracts had been concluded. The discounted cash flow and direct capitalization analyses include all estimated cash inflows and outflows over a specific holding period and, where applicable, any estimated debt premiums. These cash flows were composed of unobservable inputs which included forecasted rental revenues and expenses based upon existing in-place leases, market conditions and expectations for growth. Capitalization rates and discount rates utilized in these analyses were based upon observable rates that the Company believed to be within a reasonable range of current market rates for the respective properties. The sales comparison approach is utilized for certain land values and includes comparable sales that were completed in the selected market areas. The comparable sales utilized in these analyses were based upon observable per acre rates that the Company believes to be within a reasonable range of current market rates for the respective properties. Valuations were prepared using internally-developed valuation models. These valuations are reviewed and approved, during each reporting period, by a diverse group of management, as deemed necessary, including personnel from the acquisition, accounting, finance, operations, development and leasing departments, and the valuations are updated as appropriate. In addition, the Company may engage third-party valuation experts to assist with the preparation of certain of its valuations. The following tables show the hierarchy for those assets measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016, respectively: September 30, 2017 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 506,000 $ — $ — $ 506,000 Deferred compensation liabilities (b) $ 506,000 $ — $ — $ 506,000 Interest rate swaps asset (a) $ — $ 3,614,000 $ — $ 3,614,000 Interest rate swaps liability (b) $ — $ 1,392,000 $ — $ 1,392,000 December 31, 2016 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 447,000 $ — $ — $ 447,000 Deferred compensation liabilities (b) $ 435,000 $ — $ — $ 435,000 Interest rate swaps asset (a) $ — $ 3,074,000 $ — $ 3,074,000 Interest rate swaps liability (b) $ — $ 2,321,000 $ — $ 2,321,000 (a) Included in other assets and deferred charges, net in the accompanying consolidated balance sheets. (b) Included in accounts payable and accrued liabilities in the accompanying consolidated balance sheets. The following table shows the hierarchy for the asset measured at fair value on a non-recurring basis as of September 30, 2017: September 30, 2017 Description Level 1 Level 2 Level 3 Total Real estate held for sale $ — $ — $ 1,815,000 $ 1,815,000 There were no assets measured at fair value on a non-recurring basis as of December 31, 2016. The following table details the quantitative information regarding Level 3 assets measured at fair value on a non-recurring basis as of September 30, 2017: September 30, 2017 Valuation Unobservable Description Fair value Technique inputs Rate Vacant commercial property $ 1,815,000 Discounted cash flow Capitalization rate 9.0% Discount rate 13.0%

Mortgage Loans Payable and Cred

Mortgage Loans Payable and Credit Facility	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Mortgage Loans Payable and Credit Facility	Note 5. Mortgage Loans Payable and Credit Facility The Company has a $300 million unsecured credit facility which, as amended and restated on September 8, 2017, consists of (1) a $250 million revolving credit facility, expiring on September 8, 2021, and (2) a $50 million term loan, expiring on September 8, 2022. The revolving credit facility may be extended, at the Company’s option, for an additional one-year period, subject to customary conditions. Under an accordion feature, the facility can be increased to $750 million, subject to customary conditions and lending commitments. Interest on borrowings under the revolving credit facility component can range from LIBOR plus 135 basis points (“bps”) to 195 bps (135 bps at September 30, 2017) and interest on borrowings under the term loan component can range from LIBOR plus 130 to 190 bps (130 bps at September 30, 2017), each based on the Company’s leverage ratio. As of September 30, 2017, the Company had $143.4 million available for additional borrowings under the revolving credit facility. On September 8, 2017, the Company also amended and restated the terms of four of its existing unsecured term loans. Interest on the borrowings are based on the Company’s leverage ratio. The terms are as follows: As amended Previously Amount Maturity date Interest range Maturity date Interest range $ 75,000,000 February 2021 LIBOR + 130 bps to 190 bps February 2021 LIBOR + 170 bps to 230 bps $ 50,000,000 February 2022 LIBOR + 130 bps to 190 bps February 2022 LIBOR + 155 bps to 215 bps $ 50,000,000 September 2022 LIBOR + 130 bps to 190 bps February 2020 LIBOR + 130 bps to 190 bps $ 75,000,000 September 2024 LIBOR + 170 bps to 225 bps February 2019 LIBOR + 130 bps to 190 bps Debt is composed of the following at September 30, 2017: September 30, 2017 Contractual Maturity Balance interest rates Description dates outstanding weighted-average Fixed-rate mortgages 2021-2029 $ 135,888,000 4.6% Unsecured credit facilities: Variable-rate: Revolving credit facility (a) Sep 2021 95,000,000 2.7% Term loan Sep 2022 50,000,000 2.6% Fixed-rate (b): Term loan Feb 2021 75,000,000 3.6% Term loan Feb 2022 50,000,000 3.0% Term loan (c) Sep 2022 50,000,000 2.8% Term loan Apr 2023 100,000,000 3.2% Term loan (d) Sep 2024 75,000,000 3.3% 630,888,000 3.4% Unamortized premium 570,000 Unamortized debt issuance costs (3,788,000 ) $ 627,670,000 (a) The revolving credit facility is subject to a one-year extension at the Company’s option. (b) The interest rates on these term loans consist of the London Interbank Offered Rate (“LIBOR”) plus a credit spread based on the Company’s leverage ratio, for which the Company has interest rate swap agreements which convert the LIBOR rates to fixed rates. Accordingly, these term loans are presented as fixed-rate debt. (c) The current interest rate swap agreement expires in February 2019 at which time a new interest rate swap agreement will begin resulting in an effective interest rate of 3.2%, based on the Company’s current leverage ratio. (d) The current interest rate swap agreement expires in February 2020 at which time a new interest rate swap agreement will begin resulting in an effective interest ratio of 3.7%, based on the Company’s current leverage ratio. The Company’s unsecured credit facility and term loans contain financial covenants including, but not limited to, maximum debt leverage, maximum secured debt, minimum fixed charge coverage, and minimum net worth. In addition, the facility contains restrictions including, but not limited to, limits on indebtedness, certain investments and distributions. Although the credit facility is unsecured, borrowing availability is based on unencumbered property adjusted net operating income, as defined in the agreements. The Company’s failure to comply with the covenants or the occurrence of an event of default under the facilities could result in the acceleration of the related debt and exercise of other lender remedies. As of September 30, 2017, the Company is in compliance with all financial covenants. Interest on borrowings under the unsecured credit facility and term loans are based on the Company’s leverage ratio. Derivative Financial Instruments At September 30, 2017, the Company had $3.6 million included in other assets and deferred charges, net, as well as $1.4 million included in accounts payable and accrued liabilities on the consolidated balance sheet relating to the fair value of the interest rate swaps applicable to the unsecured term loans discussed above. Charges and/or credits relating to the changes in the fair value of the interest rate swaps are made to accumulated other comprehensive income (loss), noncontrolling interests (minority interests in consolidated joint ventures and limited partners’ interest), or operations (included in interest expense), as applicable. Over time, the unrealized gains and losses recorded in accumulated other comprehensive loss will be reclassified into earnings as an increase or reduction to interest expense in the same periods in which the hedged interest payments affect earnings. The Company estimates that approximately $1.2 million of accumulated other comprehensive loss will be reclassified as a charge to earnings within the next twelve months. The following is a summary of the derivative financial instruments held by the Company at September 30, 2017 and December 31, 2016: September 30, 2017 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 5 $ 3,614,000 2020-2024 Other assets and deferred charges, net Qualifying Interest rate swaps 2 $ 1,392,000 2019-2021 Accounts payable and accrued liabilities December 31, 2016 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 3 $ 3,074,000 2020 - 2023 Other assets and deferred charges, net Qualifying Interest rate swaps 2 $ 2,321,000 2019 - 2021 Accounts payable and accrued liabilities The notional values of the interest rate swaps held by the Company at September 30, 2017 and December 30, 2016 were $350.0 million and $350.0 million, respectively. The following presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and the consolidated statements of equity for the three and nine months ended September 30, 2017 and 2016, respectively: Gain (loss) recognized in other comprehensive income (effective portion) Designation/ Three months ended September 30, Nine months ended September 30, Cash flow Derivative 2017 2016 2017 2016 Qualifying Interest rate swaps $ 872,000 $ 1,625,000 $ (332,000 ) $ (9,771,000 ) (Loss) recognized in other comprehensive income reclassified into earnings (effective portion) Three months ended September 30, Nine months ended September 30, Classification 2017 2016 2017 2016 Continuing Operations $ (407,000 ) $ (881,000 ) $ (1,923,000 ) $ (2,711,000 ) As of September 30, 2017 the Company believes it has no significant risk associated with non-performance of the financial institutions which are the counterparties to its derivative contracts.

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	Note 6. Commitments and Contingencies The Company is a party to certain legal actions arising in the normal course of business. Management does not expect there to be adverse consequences from these actions that would be material to the Company’s consolidated financial statements.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2017
Stockholders Equity Note [Abstract]
Shareholders' Equity	Note 7. Shareholders’ Equity Common Stock The Company’s forward sales agreements, entered into on August 1, 2016 for the issuance of 5,750,000 common shares, were settled by August 1, 2017 for net proceeds, after adjustments for dividends paid and other administrative costs, of approximately $43.2 million. Series C Cumulative Redeemable Preferred Stock (“Series C Preferred Stock”) The Company’s 6.50% Series C Preferred Stock has a liquidation preference of $25.00 per share, has no stated maturity, is not convertible into any other security of the Company, and is redeemable at the Company’s option beginning August 24, 2022 at a price of $25.00 per share plus accrued and unpaid distributions. On August 24, 2017, the Company concluded a public offering of 3,000,000 shares of Series C Preferred Stock at $25.00 per share, and realized net proceeds, after offering expenses, of approximately $72.3 million. Series B Cumulative Redeemable Preferred Stock (“Series B Preferred Stock”) The Company’s 7.25% Series B Preferred Stock has a liquidation preference of $25.00 per share, has no stated maturity, is not convertible into any other security of the Company, and became redeemable, in whole or in part, at the Company’s option beginning May 22, 2017 at a price of $25.00 per share plus accrued and unpaid distributions. On August 16, 2017, the Company redeemed 1,500,000 shares of Series B Preferred Stock at a price of $25.00 per share for an aggregate of $37.5 million, plus all accrued and unpaid dividends up to (but excluding) the redemption date. On September 15, 2017, the Company redeemed 3,000,000 shares of Series B Preferred Stock at a price of $25.00 per share for an aggregate of $75.0 million, plus all accrued and unpaid dividends up to (but excluding) the redemption date. Dividends The following table provides a summary of dividends declared and paid per share: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Common stock $ 0.050 $ 0.050 $ 0.150 $ 0.150 7.25% Series B Preferred Stock $ 0.453 $ 0.453 $ 1.359 $ 1.359 On October 16, 2017, the Company’s Board of Directors declared a dividend of $0.05 per share with respect to its common stock. At the same time, the Board declared dividends of $0.453125 and $0.388194 per share with respect to the Company’s Series B Preferred Stock and Series C Preferred Stock, respectively. The distributions are payable on November 20, 2017 to shareholders of record on November 10, 2017.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2017
Revenues [Abstract]
Revenues	Note 8. Revenues Rental revenues for the three and nine months ended September 30, 2017 and 2016, respectively, comprise the following: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Base rents $ 27,187,000 $ 29,147,000 $ 81,398,000 $ 86,734,000 Percentage rent 259,000 160,000 705,000 420,000 Straight-line rents 291,000 157,000 787,000 (73,000 ) Amortization of intangible lease liabilities, net 625,000 695,000 1,900,000 2,105,000 Total rents $ 28,362,000 $ 30,159,000 $ 84,790,000 $ 89,186,000

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2017
Share Based Compensation [Abstract]
Share-Based Compensation	Note 9. Share-Based Compensation The following tables set forth certain share-based compensation information for the three and nine months ended September 30, 2017 and 2016, respectively: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Expense relating to share grants $ 936,000 $ 859,000 $ 2,880,000 $ 2,312,000 (a) Amounts capitalized (76,000 ) (54,000 ) (187,000 ) (167,000 ) Total charged to operations $ 860,000 $ 805,000 $ 2,693,000 $ 2,145,000 (a) Net of an expense reduction of $267,000 relating to a forfeiture of restricted shares in connection with an employment termination On May 2, 2017, the Company’s shareholders approved the 2017 Stock Incentive Plan (the “2017 Plan”), which replaces the Company’s 2012 Stock Incentive Plan (the “2012 Plan”). As of the effective date of the 2017 Plan, the Company may not grant any further awards under the 2012 Plan. The 2017 Plan describes certain terms and conditions governing the grant of, among other things, restricted stock awards. The maximum number of shares initially reserved and available for issuance is 4.0 million shares, which may be subject to adjustment under certain circumstances as described more fully in the 2017 Plan. At September 30, 2017, approximately 4.0 million shares remained available for grants under the 2017 Plan. During the nine months ended September 30, 2017, there were 305,000 restricted shares issued, with a weighted average grant date fair value of $6.20 per share.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Note 10. Earnings Per Share Basic earnings per share (“EPS”) is calculated by dividing net income (loss) attributable to the Company’s common shareholders by the weighted average number of common shares outstanding for the period including participating securities (restricted shares issued pursuant to the Company’s share-based compensation program are considered participating securities, as such shares have non-forfeitable rights to receive dividends). Unvested restricted shares are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the common shareholders. For the three months ended September 30, 2017 and 2016, the Company had 3.8 million and 3.7 million, respectively, of weighted average unvested restricted shares outstanding. For the nine months ended September 30, 2017 and 2016, the Company had 3.8 million and 3.6 million, respectively, of weighted average unvested restricted shares outstanding. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three and nine months ended September 30, 2017 and 2016, respectively: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Numerator Income (loss) from continuing operations $ 6,417,000 $ (761,000 ) $ 13,973,000 $ 5,610,000 Preferred stock dividends (3,535,000 ) (3,602,000 ) (10,739,000 ) (10,806,000 ) Preferred stock redemptions costs (7,890,000 ) - (7,890,000 ) - Net (income) loss attributable to noncontrolling interests (117,000 ) 74,000 (371,000 ) 254,000 Net earnings allocated to unvested shares (190,000 ) (183,000 ) (564,000 ) (533,000 ) Net (loss) attributable to vested common shares outstanding $ (5,315,000 ) $ (4,472,000 ) $ (5,591,000 ) $ (5,475,000 ) Denominator Weighted average number of vested common shares outstanding 85,642,000 81,676,000 83,049,000 81,670,000 Net (loss) per commons share attributable to common shareholders, basic and diluted $ (0.06 ) $ (0.05 ) $ (0.07 ) $ (0.07 ) Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock. For the applicable periods, the 5,750,000 common shares that were subject to the forward sale agreements (see Note 7 - “Shareholders’ Equity”) have been excluded from the denominator prior to their issuance on August 1, 2017, as they were anti-dilutive using the treasury stock method.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Note 11. Subsequent Events In determining subsequent events, management reviewed all activity from October 1, 2017 through the date of filing this Quarterly Report on Form 10-Q.

Summary Of Significant Accoun19

Summary Of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Principles Of Consolidation/Basis of Preparation	Principles of Consolidation/Basis of Preparation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and include all of the information and disclosures required by U.S. Generally Accepted Accounting Principles (“GAAP”) for interim reporting. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statement disclosures. In the opinion of management, all adjustments necessary for fair presentation (including normal recurring accruals) have been included. The financial statements are prepared on the accrual basis in accordance with GAAP, which requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. Actual results could differ from these estimates. The unaudited consolidated financial statements in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. The unaudited consolidated financial statements include the accounts and operations of the Company, the Operating Partnership, its subsidiaries, and certain joint venture partnerships in which it participates. The Company consolidates all variable interest entities for which it is the primary beneficiary.
Supplemental Consolidated Statement Of Cash Flows Information	Supplemental Consolidated Statements of Cash Flows Information Nine months ended September 30, 2017 2016 Supplemental disclosure of cash activities: Cash paid for interest $ 15,945,000 $ 20,872,000 Supplemental disclosure of non-cash activities: Capitalization of interest and financing costs 483,000 541,000 Mortgage loan payable assumed upon acquisition — (8,501,000 )
Recently-Issued Accounting Pronouncements	Recently-Issued Accounting Pronouncements In May 2014, the FASB issued guidance which amends the accounting for revenue recognition. Under the amended guidance, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled to and receive in exchange for those goods or services. Leases are specifically excluded from this guidance and will be governed by the applicable lease codification; however, this update may have implications with respect to certain variable payment terms included in lease agreements. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption not permitted. The Company is in the final stages of evaluating the guidance and has identified non-lease components in its lease agreements. However, these non-lease components are not in the scope of the revenue standard until the lease accounting standard is adopted, and their materiality is currently in the process of being evaluated. Upon the adoption of the revenue standard, the Company does not believe there will be a material effect on its consolidated financial statements. In February 2016, the FASB issued guidance which 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. The guidance requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than twelve months regardless of their classification. Leases with a term of twelve months or less will be accounted for pursuant to existing guidance for operating leases. The guidance is expected to result in the recognition of a right-to-use asset and related liability to account for the Company’s future obligations under its ground lease and executive office lease agreements for which the Company is the lessee. Additionally, the guidance will require that lessees and lessors capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. Under this guidance, allocated payroll costs and other costs that are incurred regardless of whether the lease is obtained will no longer be capitalized as initial direct costs and instead will be expensed as incurred. Lessors will continue to account for leases using an approach that is substantially equivalent to existing guidance for operating and other leases. The new lease accounting guidance requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption being permitted. The Company is currently in the process of evaluating the impact the adoption of the guidance will have on its consolidated financial statements. In March 2016, the FASB issued guidance which amends the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, classification on the statement of cash flows, and the policy election with respect to accounting for forfeitures either as they occur or by estimating forfeitures. The guidance was adopted on January 1, 2017. The Company has elected to account for forfeitures as they occur, and the guidance did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued guidance which enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better calculate credit loss estimates. The guidance will apply to most financial assets measured at amortized cost and certain other instruments, including accounts receivable, straight-line rent receivables, loans, held-to-maturity debt securities, net investments in leases, and off-balance-sheet credit exposures. The guidance will require that the Company estimate the lifetime expected credit loss with respect to these receivables and record allowances that, when deducted from the balance of the receivables, represent the net amounts expected to be collected. The Company will also be required to disclose information about how it developed the allowances, including changes in the factors that influenced the Company’s estimate of expected credit losses and the reasons for those changes. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2019. The Company is currently in the process of evaluating the impact the adoption of the guidance will have on its consolidated financial statements. In August 2016, the FASB issued guidance that clarifies how an entity should classify certain cash receipts and cash payments on its statement of cash flows. The guidance established that an entity will classify cash payments for debt prepayment or extinguishment costs as financing cash flows. In addition, the guidance provides entities with an alternative to consider regarding the nature of the source of distributions that an investor receives from an equity method investment when classifying distributions received in its cash flow statement (the nature of the distribution approach). Alternatively, entities can elect to classify the distributions received from equity method investees based on the cumulative earnings approach. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption being permitted. The Company has evaluated the guidance and does not believe it will have a material impact on the Company’s consolidated financial statements. In November 2016, the FASB issued guidance that will require entities to show the changes in the total of cash, cash equivalents and restricted cash in the statement of cash flows. When cash, cash equivalents and restricted cash are presented in more than one line item on the balance sheet, the new guidance requires a reconciliation of the totals in the statement of cash flows to the related captions on the balance sheet. This reconciliation can be presented either on the face of the statement of cash flows or in the notes to the financial statements. The guidance would be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption being permitted. The Company has evaluated the guidance and does not believe it will have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued guidance which changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The guidance requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset and/or a group of similar identifiable assets; if these criteria are met, the set of transferred assets and activities is not a business. The guidance also requires a business to include at least one substantive process and narrows the definition of outputs by more closely aligning it with how outputs are described in the guidance on revenue from contracts with customers. The guidance is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption being permitted. The Company has elected to early adopt this guidance effective January 1, 2017. The Company believes that most of its typical acquisitions of real estate will not meet the new definition of a business, and accordingly, will result in the capitalization of associated acquisition pursuit costs, as is the case regarding all acquisitions in 2017.

Summary Of Significant Accoun20

Summary Of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Supplemental Consolidated Statements Of Cash Flows Information	Supplemental Consolidated Statements of Cash Flows Information Nine months ended September 30, 2017 2016 Supplemental disclosure of cash activities: Cash paid for interest $ 15,945,000 $ 20,872,000 Supplemental disclosure of non-cash activities: Capitalization of interest and financing costs 483,000 541,000 Mortgage loan payable assumed upon acquisition — (8,501,000 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Schedule Of Assets And Liabilities Measured At A Fair Value On Recurring Basis	The following tables show the hierarchy for those assets measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016, respectively: September 30, 2017 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 506,000 $ — $ — $ 506,000 Deferred compensation liabilities (b) $ 506,000 $ — $ — $ 506,000 Interest rate swaps asset (a) $ — $ 3,614,000 $ — $ 3,614,000 Interest rate swaps liability (b) $ — $ 1,392,000 $ — $ 1,392,000 December 31, 2016 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 447,000 $ — $ — $ 447,000 Deferred compensation liabilities (b) $ 435,000 $ — $ — $ 435,000 Interest rate swaps asset (a) $ — $ 3,074,000 $ — $ 3,074,000 Interest rate swaps liability (b) $ — $ 2,321,000 $ — $ 2,321,000 (a) Included in other assets and deferred charges, net in the accompanying consolidated balance sheets. (b) Included in accounts payable and accrued liabilities in the accompanying consolidated balance sheets.
Schedule Of Asset Measured At A Fair Value On Non-recurring Basis	The following table shows the hierarchy for the asset measured at fair value on a non-recurring basis as of September 30, 2017: September 30, 2017 Description Level 1 Level 2 Level 3 Total Real estate held for sale $ — $ — $ 1,815,000 $ 1,815,000
Nonrecurring Basis [Member] | Level 3 [Member]
Schedule Of Quantitative Information Regarding Level 3 Assets Measured At Fair Value On Non-recurring Basis	The following table details the quantitative information regarding Level 3 assets measured at fair value on a non-recurring basis as of September 30, 2017: September 30, 2017 Valuation Unobservable Description Fair value Technique inputs Rate Vacant commercial property $ 1,815,000 Discounted cash flow Capitalization rate 9.0% Discount rate 13.0%

Mortgage Loans Payable and Cr22

Mortgage Loans Payable and Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Summary of Amended and Restated Terms of Existing Unsecured Term Loans	On September 8, 2017, the Company also amended and restated the terms of four of its existing unsecured term loans. Interest on the borrowings are based on the Company’s leverage ratio. The terms are as follows: As amended Previously Amount Maturity date Interest range Maturity date Interest range $ 75,000,000 February 2021 LIBOR + 130 bps to 190 bps February 2021 LIBOR + 170 bps to 230 bps $ 50,000,000 February 2022 LIBOR + 130 bps to 190 bps February 2022 LIBOR + 155 bps to 215 bps $ 50,000,000 September 2022 LIBOR + 130 bps to 190 bps February 2020 LIBOR + 130 bps to 190 bps $ 75,000,000 September 2024 LIBOR + 170 bps to 225 bps February 2019 LIBOR + 130 bps to 190 bps
Schedule of Debt Related to Continuing Operations	Debt is composed of the following at September 30, 2017: September 30, 2017 Contractual Maturity Balance interest rates Description dates outstanding weighted-average Fixed-rate mortgages 2021-2029 $ 135,888,000 4.6% Unsecured credit facilities: Variable-rate: Revolving credit facility (a) Sep 2021 95,000,000 2.7% Term loan Sep 2022 50,000,000 2.6% Fixed-rate (b): Term loan Feb 2021 75,000,000 3.6% Term loan Feb 2022 50,000,000 3.0% Term loan (c) Sep 2022 50,000,000 2.8% Term loan Apr 2023 100,000,000 3.2% Term loan (d) Sep 2024 75,000,000 3.3% 630,888,000 3.4% Unamortized premium 570,000 Unamortized debt issuance costs (3,788,000 ) $ 627,670,000
Summary of Derivative Financial Instruments Held	The following is a summary of the derivative financial instruments held by the Company at September 30, 2017 and December 31, 2016: September 30, 2017 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 5 $ 3,614,000 2020-2024 Other assets and deferred charges, net Qualifying Interest rate swaps 2 $ 1,392,000 2019-2021 Accounts payable and accrued liabilities December 31, 2016 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 3 $ 3,074,000 2020 - 2023 Other assets and deferred charges, net Qualifying Interest rate swaps 2 $ 2,321,000 2019 - 2021 Accounts payable and accrued liabilities
Effect of Derivative Financial Instruments on Consolidated Statements of Operations and Consolidated Statements of Equity	The following presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and the consolidated statements of equity for the three and nine months ended September 30, 2017 and 2016, respectively: Gain (loss) recognized in other comprehensive income (effective portion) Designation/ Three months ended September 30, Nine months ended September 30, Cash flow Derivative 2017 2016 2017 2016 Qualifying Interest rate swaps $ 872,000 $ 1,625,000 $ (332,000 ) $ (9,771,000 ) (Loss) recognized in other comprehensive income reclassified into earnings (effective portion) Three months ended September 30, Nine months ended September 30, Classification 2017 2016 2017 2016 Continuing Operations $ (407,000 ) $ (881,000 ) $ (1,923,000 ) $ (2,711,000 )

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2017
Stockholders Equity Note [Abstract]
Schedule Of Dividends	The following table provides a summary of dividends declared and paid per share: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Common stock $ 0.050 $ 0.050 $ 0.150 $ 0.150 7.25% Series B Preferred Stock $ 0.453 $ 0.453 $ 1.359 $ 1.359

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2017
Revenues [Abstract]
Schedule Of Rental Revenues	Rental revenues for the three and nine months ended September 30, 2017 and 2016, respectively, comprise the following: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Base rents $ 27,187,000 $ 29,147,000 $ 81,398,000 $ 86,734,000 Percentage rent 259,000 160,000 705,000 420,000 Straight-line rents 291,000 157,000 787,000 (73,000 ) Amortization of intangible lease liabilities, net 625,000 695,000 1,900,000 2,105,000 Total rents $ 28,362,000 $ 30,159,000 $ 84,790,000 $ 89,186,000

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Share Based Compensation [Abstract]
Schedule Of Share-Based Compensation Information	The following tables set forth certain share-based compensation information for the three and nine months ended September 30, 2017 and 2016, respectively: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Expense relating to share grants $ 936,000 $ 859,000 $ 2,880,000 $ 2,312,000 (a) Amounts capitalized (76,000 ) (54,000 ) (187,000 ) (167,000 ) Total charged to operations $ 860,000 $ 805,000 $ 2,693,000 $ 2,145,000 (a) Net of an expense reduction of $267,000 relating to a forfeiture of restricted shares in connection with an employment termination

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share	The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three and nine months ended September 30, 2017 and 2016, respectively: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Numerator Income (loss) from continuing operations $ 6,417,000 $ (761,000 ) $ 13,973,000 $ 5,610,000 Preferred stock dividends (3,535,000 ) (3,602,000 ) (10,739,000 ) (10,806,000 ) Preferred stock redemptions costs (7,890,000 ) - (7,890,000 ) - Net (income) loss attributable to noncontrolling interests (117,000 ) 74,000 (371,000 ) 254,000 Net earnings allocated to unvested shares (190,000 ) (183,000 ) (564,000 ) (533,000 ) Net (loss) attributable to vested common shares outstanding $ (5,315,000 ) $ (4,472,000 ) $ (5,591,000 ) $ (5,475,000 ) Denominator Weighted average number of vested common shares outstanding 85,642,000 81,676,000 83,049,000 81,670,000 Net (loss) per commons share attributable to common shareholders, basic and diluted $ (0.06 ) $ (0.05 ) $ (0.07 ) $ (0.07 )

Business And Organization (Deta

Business And Organization (Details)	9 Months Ended
	Sep. 30, 2017propertyshares
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of properties | property	61
Company's interest in Operating Partnership	99.60%
Limited partners' interest in Operating Partnership	0.40%
OP units outstanding | shares	349,000

Summary Of Significant Accoun28

Summary Of Significant Accounting Policies (Supplemental Consolidated Statements Of Cash Flows Information) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Supplemental disclosure of cash activities:
Cash paid for interest	$ 15,945,000	$ 20,872,000
Supplemental disclosure of non-cash activities:
Capitalization of interest and financing costs	$ 483,000	541,000
Mortgage loan payable assumed upon acquisition		$ (8,501,000)

Real Estate (Narrative) (Detail

Real Estate (Narrative) (Details) - USD ($)	Jul. 06, 2017	Feb. 22, 2017	Feb. 01, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Real Estate Properties [Line Items]
Acquisitions of real estate					$ 32,442,000	$ 31,928,000
Impairment charge				$ 6,270,000	$ 9,850,000	$ 6,270,000
Christina Crossing [Member]
Real Estate Properties [Line Items]
Acquisitions of real estate		$ 27,900,000
South Philadelphia Shopping Center [Member]
Real Estate Properties [Line Items]
Acquisitions of real estate	$ 3,300,000
Camp Hill [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Real Estate Properties [Line Items]
Sales price of real estate sold			$ 10,700,000
Gain on sale of real estate			$ 7,100,000

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of fixed rate mortgage loans payable	$ 138,600,000	$ 143,200,000
Carrying value of fixed rate mortgage payable	$ 135,800,000	138,200,000
Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value		$ 0

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Assets And Liabilities Measured At A Fair Value On Recurring Basis) (Details) - Recurring Basis [Member] - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments related to deferred compensation liabilities	$ 506,000	$ 447,000
Deferred compensation liabilities	506,000	435,000
Interest rate swaps asset	3,614,000	3,074,000
Interest rate swaps liability	1,392,000	2,321,000
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments related to deferred compensation liabilities	506,000	447,000
Deferred compensation liabilities	506,000	435,000
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps asset	3,614,000	3,074,000
Interest rate swaps liability	$ 1,392,000	$ 2,321,000

Fair Value Measurements (Sche32

Fair Value Measurements (Schedule Of Asset Measured At A Fair Value On Non-recurring Basis) (Details)	Sep. 30, 2017USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate held for sale	$ 1,815,000
Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate held for sale	1,815,000
Nonrecurring Basis [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate held for sale	$ 1,815,000

Fair Value Measurements (Sche33

Fair Value Measurements (Schedule Of Quantitative Information Regarding Level 3 Assets Measured At Fair Value On Non-recurring Basis) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)
Fair Value Inputs Assets Quantitative Information [Line Items]
Real estate held for sale	$ 1,815,000
Nonrecurring Basis [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Real estate held for sale	1,815,000
Nonrecurring Basis [Member] | Level 3 [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Real estate held for sale	1,815,000
Nonrecurring Basis [Member] | Level 3 [Member] | Assets [Member] | Vacant Commercial Property [Member] | Discounted Cash Flow Valuation Technique [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Real estate held for sale	$ 1,815,000
Capitalization rate	9.00%
Discount rate	13.00%

Mortgage Loans Payable and Cr34

Mortgage Loans Payable and Credit Facility (Narrative) (Details)	Sep. 08, 2017USD ($)Loan	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Line Of Credit Facility [Line Items]
Number of amended and restated existing unsecured term loans | Loan	4
Other assets and deferred charges, net		$ 35,421,000	$ 29,506,000
Approximate amount of accumulated other comprehensive loss to be reclassified into earnings		1,200,000
Interest Rate Swap [Member]
Line Of Credit Facility [Line Items]
Fair value of interest rate swaps included in accounts payable and accrued liabilities		1,400,000
Derivative, notional amount		350,000,000	$ 350,000,000
Cash Flow Hedging, Count 3 [Member] | Interest Rate Swap [Member]
Line Of Credit Facility [Line Items]
Other assets and deferred charges, net		$ 3,600,000
Unsecured credit facility [Member]
Line Of Credit Facility [Line Items]
Credit facility borrowing capacity	$ 300,000,000
Aggregate borrowing capacity including increase under accordion feature	$ 750,000,000
Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Line of credit facility extension allowed period	1 year	1 year
Basis spread on borrowings variable rate		1.35%
Revolving Credit Facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate	1.35%
Revolving Credit Facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate	1.95%
Revolving Credit Facility [Member] | Unsecured credit facility [Member]
Line Of Credit Facility [Line Items]
Credit facility borrowing capacity	$ 250,000,000
Credit facility expiration date	Sep. 8, 2021
Remaining borrowing capacity		$ 143,400,000
Term loan facility [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate		1.30%
Term loan facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate	1.30%
Term loan facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate	1.90%
Term loan facility [Member] | Unsecured credit facility [Member]
Line Of Credit Facility [Line Items]
Credit facility borrowing capacity	$ 50,000,000
Credit facility expiration date	Sep. 8, 2022

Mortgage Loans Payable and Cr35

Mortgage Loans Payable and Credit Facility (Summary of Amended and Restated Terms of Existing Unsecured Term Loans) (Details) - USD ($)	Sep. 08, 2017	Sep. 30, 2017	Dec. 31, 2016
Line Of Credit Facility [Line Items]
Amount		$ 95,000,000	$ 72,000,000
Term Loan Two [Member] | Unsecured Term Loans [Member]
Line Of Credit Facility [Line Items]
Amount	$ 75,000,000
Maturity date	Feb. 28, 2021
Term Loan Two [Member] | Unsecured Term Loans [Member] | Previously [Member]
Line Of Credit Facility [Line Items]
Maturity date	Feb. 28, 2021
Term Loan Two [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.30%
Term Loan Two [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.90%
Term Loan Two [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Previously [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.70%
Term Loan Two [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Previously [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Interest range	2.30%
Term Loan Three [Member] | Unsecured Term Loans [Member]
Line Of Credit Facility [Line Items]
Amount	$ 50,000,000
Maturity date	Feb. 28, 2022
Term Loan Three [Member] | Unsecured Term Loans [Member] | Previously [Member]
Line Of Credit Facility [Line Items]
Maturity date	Feb. 28, 2022
Term Loan Three [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.30%
Term Loan Three [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.90%
Term Loan Three [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Previously [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.55%
Term Loan Three [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Previously [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Interest range	2.15%
Term Loan Four [Member] | Unsecured Term Loans [Member]
Line Of Credit Facility [Line Items]
Amount	$ 50,000,000
Maturity date	Sep. 30, 2022
Term Loan Four [Member] | Unsecured Term Loans [Member] | Previously [Member]
Line Of Credit Facility [Line Items]
Maturity date	Feb. 29, 2020
Term Loan Four [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.30%
Term Loan Four [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.90%
Term Loan Four [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Previously [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.30%
Term Loan Four [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Previously [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.90%
Term Loan Six [Member] | Unsecured Term Loans [Member]
Line Of Credit Facility [Line Items]
Amount	$ 75,000,000
Maturity date	Sep. 30, 2024
Term Loan Six [Member] | Unsecured Term Loans [Member] | Previously [Member]
Line Of Credit Facility [Line Items]
Maturity date	Feb. 28, 2019
Term Loan Six [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.70%
Term Loan Six [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Interest range	2.25%
Term Loan Six [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Previously [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.30%
Term Loan Six [Member] | Unsecured Term Loans [Member] | LIBOR [Member] | Previously [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Interest range	1.90%

Mortgage Loans Payable and Cr36

Mortgage Loans Payable and Credit Facility (Schedule of Debt Related to Continuing Operations) (Details) - USD ($)	Sep. 08, 2017	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Mortgage loans payable		$ 135,815,000	$ 138,243,000
Unsecured revolving credit facility		95,000,000	$ 72,000,000
Term Loan Two [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Feb. 28, 2021
Unsecured revolving credit facility	$ 75,000,000
Term Loan Three [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Feb. 28, 2022
Unsecured revolving credit facility	$ 50,000,000
Term Loan Four [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Sep. 30, 2022
Unsecured revolving credit facility	$ 50,000,000
Term Loan Six [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Sep. 30, 2024
Unsecured revolving credit facility	$ 75,000,000
Continuing Operations [Member]
Debt Instrument [Line Items]
Total debt gross		630,888,000
Unamortized premium		570,000
Unamortized debt issuance costs		(3,788,000)
Total debt		$ 627,670,000
Weighted average contractual interest rate		3.40%
Continuing Operations [Member] | Fixed-Rate Mortgages [Member]
Debt Instrument [Line Items]
Maturity date range, start		2,021
Maturity date range, end		2,029
Mortgage loans payable		$ 135,888,000
Weighted average contractual interest rate		4.60%
Continuing Operations [Member] | Fixed-Rate Mortgages [Member] | Term Loan Two [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date		Feb. 28, 2021
Unsecured revolving credit facility		$ 75,000,000
Weighted average contractual interest rate		3.60%
Continuing Operations [Member] | Fixed-Rate Mortgages [Member] | Term Loan Three [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date		Feb. 28, 2022
Unsecured revolving credit facility		$ 50,000,000
Weighted average contractual interest rate		3.00%
Continuing Operations [Member] | Fixed-Rate Mortgages [Member] | Term Loan Four [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date		Sep. 30, 2022
Unsecured revolving credit facility		$ 50,000,000
Weighted average contractual interest rate		2.80%
Continuing Operations [Member] | Fixed-Rate Mortgages [Member] | Term Loan Five [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date		Apr. 30, 2023
Unsecured revolving credit facility		$ 100,000,000
Weighted average contractual interest rate		3.20%
Continuing Operations [Member] | Fixed-Rate Mortgages [Member] | Term Loan Six [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date		Sep. 30, 2024
Unsecured revolving credit facility		$ 75,000,000
Weighted average contractual interest rate		3.30%
Continuing Operations [Member] | Variable-Rate Mortgage [Member] | Revolving Credit Facility [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date		Sep. 30, 2021
Unsecured revolving credit facility		$ 95,000,000
Weighted average contractual interest rate		2.70%
Continuing Operations [Member] | Variable-Rate Mortgage [Member] | Term Loan [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date		Sep. 30, 2022
Unsecured revolving credit facility		$ 50,000,000
Weighted average contractual interest rate		2.60%

Mortgage Loans Payable and Cr37

Mortgage Loans Payable and Credit Facility (Schedule of Debt Related to Continuing Operations) (Parenthetical) (Details)	Sep. 08, 2017	Sep. 30, 2017
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility extension allowed period	1 year	1 year
Term Loan Four [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Expiration period		2019-02
Effective interest rate		3.20%
Term Loan Six [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Expiration period		2020-02
Effective interest rate		3.70%

Mortgage Loans Payable and Cr38

Mortgage Loans Payable and Credit Facility (Summary of Derivative Financial Instruments Held) (Details) - Interest Rate Swap [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)contract	Dec. 31, 2016USD ($)contract
Derivatives Fair Value [Line Items]
Count | contract	2	2
Fair value | $	$ 1,392,000	$ 2,321,000
Minimum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2,019	2,019
Maximum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2,021	2,021
Cash Flow Hedging, Count 3 [Member]
Derivatives Fair Value [Line Items]
Count | contract	5	3
Fair value | $	$ 3,614,000	$ 3,074,000
Cash Flow Hedging, Count 3 [Member] | Minimum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2,020	2,020
Cash Flow Hedging, Count 3 [Member] | Maximum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2,024	2,023

Mortgage Loans Payable and Cr39

Mortgage Loans Payable and Credit Facility (Effect of Derivative Financial Instruments On Consolidated Statements of Operations and Consolidated Statements of Equity) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Designation/Cash Flow [Member] | Interest Rate Swap [Member]
Derivative Instruments Gain Loss [Line Items]
Net amount of Gain (loss) recognized in other comprehensive income (effective portion)	$ 872,000	$ 1,625,000	$ (332,000)	$ (9,771,000)
Continuing Operations [Member]
Derivative Instruments Gain Loss [Line Items]
Net amount of (Loss) recognized in other comprehensive income reclassified into earnings (effective portion)	$ (407,000)	$ (881,000)	$ (1,923,000)	$ (2,711,000)

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 16, 2017	Sep. 15, 2017	Aug. 16, 2017	Aug. 01, 2017	Sep. 30, 2017	Aug. 24, 2017	Dec. 31, 2016	Aug. 01, 2016
Class Of Stock [Line Items]
Common stock, shares issued					91,319,000		85,316,000
Dividends payable, date declared					Oct. 16, 2017
Dividends payable, date to be paid					Nov. 20, 2017
Dividends payable, date of record					Nov. 10, 2017
Subsequent Event [Member]
Class Of Stock [Line Items]
Common stock, dividends declared	$ 0.05
Series C Preferred Stock [Member]
Class Of Stock [Line Items]
Dividend rate percentage					6.50%
Liquidation preference, per share					$ 25		$ 25
Redemption price per share					$ 25
Redemption date					Aug. 24, 2022
Preferred stock, shares issued					3,000,000	3,000,000	0
Preferred stock, issued price per share						$ 25
Public offering, realized net proceeds, net offering expenses						$ 72.3
Series C Preferred Stock [Member] | Subsequent Event [Member]
Class Of Stock [Line Items]
Preferred stock dividends declared	0.388194
Series B Preferred Stock [Member]
Class Of Stock [Line Items]
Dividend rate percentage					7.25%
Liquidation preference, per share					$ 25		$ 25
Redemption price per share		$ 25	$ 25		$ 25
Redemption date					May 22, 2017
Preferred stock, shares issued					3,450,000		7,950,000
Preferred stock redeemed, shares		3,000,000	1,500,000
Redemption price plus accrued and unpaid dividends amount		$ 75	$ 37.5
Series B Preferred Stock [Member] | Subsequent Event [Member]
Class Of Stock [Line Items]
Preferred stock dividends declared	$ 0.453125
Forward Sales Agreements [Member]
Class Of Stock [Line Items]
Common stock, shares issued								5,750,000
Public offering, estimated net proceeds				$ 43.2
Settlement date of agreements				Aug. 1, 2017	Aug. 1, 2017

Shareholders' Equity (Schedule

Shareholders' Equity (Schedule Of Dividends) (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Class Of Stock [Line Items]
Common stock	$ 0.050	$ 0.050	$ 0.150	$ 0.150
Series B Preferred Stock [Member]
Class Of Stock [Line Items]
Cumulative Redeemable Preferred Stock	$ 0.453	$ 0.453	$ 1.359	$ 1.359
Dividend rate percentage			7.25%

Revenues (Schedule Of Rental Re

Revenues (Schedule Of Rental Revenues) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues [Abstract]
Base rents	$ 27,187,000	$ 29,147,000	$ 81,398,000	$ 86,734,000
Percentage rent	259,000	160,000	705,000	420,000
Straight-line rents	291,000	157,000	787,000	(73,000)
Amortization of intangible lease liabilities, net	625,000	695,000	1,900,000	2,105,000
Total rents	$ 28,362,000	$ 30,159,000	$ 84,790,000	$ 89,186,000

Share-Based Compensation (Sched

Share-Based Compensation (Schedule Of Share-Based Compensation Information) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share Based Compensation [Abstract]
Expense relating to share grants	$ 936,000	$ 859,000	$ 2,880,000	$ 2,312,000
Amounts capitalized	(76,000)	(54,000)	(187,000)	(167,000)
Total charged to operations	$ 860,000	$ 805,000	$ 2,693,000	$ 2,145,000

Share-Based Compensation (Sch44

Share-Based Compensation (Schedule Of Share-Based Compensation Information) (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)
Share Based Compensation [Abstract]
Expense reduction related to forfeiture of restricted shares	$ 267,000

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2017	May 02, 2017
2012 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant under Stock Incentive Plan		0
Two Thousand Seventeen Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant under Stock Incentive Plan	4,000,000
Number of shares that may be granted under Stock Incentive Plan		4,000,000
Two Thousand Seventeen Plan | Restricted Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued	305,000
Weighted-average grant date fair value per share	$ 6.20

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	Aug. 01, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average nonvested restricted shares outstanding		3,800,000	3,700,000	3,800,000	3,600,000
Anti-dilutive common stock shares excluded from earnings per share amount			5,750,000		5,750,000
Weighted average number of OP units outstanding		349,000	352,000	350,000	352,000
Forward Sales Agreements [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Settlement date of agreements	Aug. 1, 2017			Aug. 1, 2017

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Income (loss) from continuing operations	$ 6,417,000	$ (761,000)	$ 13,973,000	$ 5,610,000
Preferred stock dividends	(3,535,000)	(3,602,000)	(10,739,000)	(10,806,000)
Preferred stock redemptions costs	(7,890,000)		(7,890,000)
Net (income) loss attributable to noncontrolling interests	(117,000)	74,000	(371,000)	254,000
Net earnings allocated to unvested shares	(190,000)	(183,000)	(564,000)	(533,000)
Net (loss) attributable to vested common shares outstanding	$ (5,315,000)	$ (4,472,000)	$ (5,591,000)	$ (5,475,000)
Weighted average number of vested common shares outstanding	85,642,000	81,676,000	83,049,000	81,670,000
Net (loss) per commons share attributable to common shareholders, basic and diluted	$ (0.06)	$ (0.05)	$ (0.07)	$ (0.07)