LXP Industrial Trust (LXP) 10-K 18 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 16, 2021	Jun. 30, 2020
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period Ended Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-12386
Entity Registrant Name	LEXINGTON REALTY TRUST
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	13-3717318
Entity Address, Address Line One	One Penn Plaza
Entity Address, Address Line Two	Suite 4015
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10119-4015
City Area Code	212
Local Phone Number	692-7200
Entity Well-known Seasoned User	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 2,857,720,689
Entity Common Stock, Shares Outstanding (in shares)		277,554,740
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Certain information contained in the Definitive Proxy Statement for Lexington Realty Trust's Annual Meeting of Shareholders, to be held on May 18, 2021, is incorporated by reference in this Annual Report on Form 10-K in response to Part III, Items 10, 11, 12, 13 and 14, which will be filed with the Securities and Exchange Commission not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K.
Entity Central Index Key	0000910108
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Shares of beneficial interest, par value $0.0001 per share, classified as Common Stock
Trading Symbol	LXP
Security Exchange Name	NYSE
Series C
Document Information [Line Items]
Title of 12(b) Security	6.50% Series C Cumulative Convertible Preferred Stock, par value $0.0001 per share
Trading Symbol	LXPPRC
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets:
Real estate, at cost	$ 3,514,564	$ 3,320,574
Real estate - intangible assets	409,293	409,756
Investments in real estate under construction	75,906	13,313
Real estate, gross	3,999,763	3,743,643
Less: accumulated depreciation and amortization	884,465	887,629
Real estate, net	3,115,298	2,856,014
Assets held for sale	16,530	0
Right-of-use assets, net	31,423	38,133
Cash and cash equivalents	178,795	122,666
Restricted cash	626	6,644
Investments in non-consolidated entities	56,464	57,168
Deferred expenses (net of accumulated amortization of $23,171 in 2020 and $23,382 in 2019)	15,901	18,404
Rent receivable - current	2,899	3,229
Rent receivable - deferred	66,959	66,294
Other assets	8,331	11,708
Total assets	3,493,226	3,180,260
Liabilities:
Mortgages and notes payable, net	136,529	390,272
Term loan payable, net	297,943	297,439
Senior notes payable, net	779,275	496,870
Trust preferred securities, net	127,495	127,396
Dividends payable	35,401	32,432
Liabilities held for sale	790	0
Operating lease liabilities	32,515	39,442
Accounts payable and other liabilities	55,208	29,925
Accrued interest payable	6,334	7,897
Deferred revenue - including below market leases (net of accumulated accretion of $12,758 in 2020 and $11,876 in 2019)	17,264	20,350
Prepaid rent	13,335	13,518
Total liabilities	1,502,089	1,455,541
Commitments and contingencies
Equity:
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares, Series C Cumulative Convertible Preferred, liquidation preference $96,770 and 1,935,400 shares issued and outstanding	94,016	94,016
Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 277,152,450 and 254,770,719 shares issued and outstanding in 2020 and 2019, respectively	28	25
Additional paid-in-capital	3,196,315	2,976,670
Accumulated distributions in excess of net income	(1,301,726)	(1,363,676)
Accumulated other comprehensive loss	(17,963)	(1,928)
Total shareholders’ equity	1,970,670	1,705,107
Noncontrolling interests	20,467	19,612
Total equity	1,991,137	1,724,719
Total liabilities and equity	$ 3,493,226	$ 3,180,260

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets:
Accumulated amortization on deferred expenses	$ 23,171	$ 23,382
Liabilities:
Accumulated accretion on deferred revenue	$ 12,758	$ 11,876
Equity:
Preferred shares, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred shares, authorized shares (in shares)	100,000,000	100,000,000
Preferred shares, liquidation preference	$ 96,770	$ 96,770
Preferred shares, convertible preferred, shares issued (in shares)	1,935,400	1,935,400
Preferred shares, redeemable preferred, shares outstanding (in shares)	1,935,400	1,935,400
Common shares, par value (usd per share)	$ 0.0001	$ 0.0001
Common shares, authorized shares (in shares)	400,000,000	400,000,000
Common shares, shares issued (in shares)	277,152,450	254,770,719
Common shares, shares outstanding (in shares)	277,152,450	254,770,719

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gross revenues:
Rental revenue	$ 325,811	$ 320,622	$ 395,339
Total gross revenues	330,448	325,969	396,971
Expense applicable to revenues:
Depreciation and amortization	(161,592)	(147,594)	(168,191)
General and administrative	(30,371)	(30,785)	(31,662)
Non-operating income	743	2,262	1,859
Interest and amortization expense	(55,201)	(65,095)	(79,880)
Debt satisfaction gains (charges), net	21,452	(4,517)	(2,596)
Impairment charges	(14,460)	(5,329)	(95,813)
Gains on sales of properties	139,039	250,889	252,913
Income (loss) before provision for income taxes and equity in earnings of non-consolidated entities	188,144	283,782	230,926
Provision for income taxes	(1,584)	(1,379)	(1,728)
Equity in earnings (losses) of non-consolidated entities	(169)	2,890	1,708
Net income	186,391	285,293	230,906
Less net income attributable to noncontrolling interests	(3,089)	(5,383)	(3,491)
Net income attributable to Lexington Realty Trust shareholders	183,302	279,910	227,415
Dividends attributable to preferred shares - Series C	(6,290)	(6,290)	(6,290)
Allocation to participating securities	(224)	(395)	(287)
Net income attributable to common shareholders	$ 176,788	$ 273,225	$ 220,838
Net income attributable to common shareholders - basic (usd per share)	$ 0.66	$ 1.15	$ 0.93
Weighted-average common shares outstanding - basic (in shares)	266,914,843	237,642,048	236,666,375
Net income attributable to common shareholders - diluted (usd per share)	$ 0.66	$ 1.15	$ 0.93
Weighted-average common shares outstanding - diluted (in shares)	268,182,552	237,934,515	240,810,990
Other
Gross revenues:
Other income	$ 4,637	$ 5,347	$ 1,632
Real Estate
Expense applicable to revenues:
Property operating	$ (41,914)	$ (42,018)	$ (42,675)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net Income	$ 186,391	$ 285,293	$ 230,906
Other comprehensive income (loss):
Change in unrealized loss on interest rate swaps, net	(16,035)	(2,004)
Change in unrealized loss on interest rate swaps, net			(989)
Other comprehensive loss	(16,035)	(2,004)	(989)
Comprehensive income	170,356	283,289	229,917
Comprehensive income attributable to noncontrolling interests	(3,089)	(5,383)	(3,491)
Comprehensive income attributable to Lexington Realty Trust shareholders	$ 167,267	$ 277,906	$ 226,426

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Preferred Shares	Common Shares	Additional Paid-in-Capital	Accumulated Distributions in Excess of Net Income	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2017	$ 1,340,835	$ 94,016	$ 24	$ 2,818,520	$ (1,589,724)	$ 1,065	$ 16,934
Beginning balance (in shares) at Dec. 31, 2017		1,935,400	240,689,081
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of noncontrolling OP units for common shares	0			189			(189)
Redemption of noncontrolling OP units for common shares (in shares)			53,388
Issuance of common shares and deferred compensation amortization, net	6,520			6,520
Issuance of common shares and deferred compensation amortization, net (in shares)			966,791
Repurchase of common shares	(49,858)			(49,858)
Repurchase of common shares (in shares)			(5,851,252)
Repurchase of common shares to settle tax obligations	(2,544)			(2,544)
Repurchase of common shares to settle tax obligations (in shares)			(271,792)
Exercise of employee common share options	115			115
Exercise of employee common share options, net (in shares)			16,390
Forfeiture of employee common shares	(71)			(87)	16
Forfeiture of employee common shares (in shares)			(594,052)
Dividends/distributions	(178,236)				(174,807)		(3,429)
Net Income	230,906				227,415		3,491
Other comprehensive loss	(989)					(989)
Balance at end of period at Dec. 31, 2018	1,346,678	$ 94,016	$ 24	2,772,855	(1,537,100)	76	16,807
Ending balance (in shares) at Dec. 31, 2018		1,935,400	235,008,554
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	867						867
Redemption of noncontrolling OP units for common shares	0			1,655			(1,655)
Redemption of noncontrolling OP units for common shares (in shares)			391,993
Issuance of common shares and deferred compensation amortization, net	209,373		$ 2	209,371
Issuance of common shares and deferred compensation amortization, net (in shares)			20,579,745
Repurchase of common shares	(958)			(958)
Repurchase of common shares (in shares)			(441,581)
Repurchase of common shares to settle tax obligations	(5,281)		$ (1)	(5,280)
Repurchase of common shares to settle tax obligations (in shares)			(712,430)
Forfeiture of employee common shares	15			0	15
Forfeiture of employee common shares (in shares)			(55,562)
Dividends/distributions	(109,264)				(106,501)		(2,763)
Net Income	285,293				279,910		5,383
Reallocation of noncontrolling interests				(973)			973
Other comprehensive loss	(2,004)					(2,004)
Balance at end of period at Dec. 31, 2019	1,724,719	$ 94,016	$ 25	2,976,670	(1,363,676)	(1,928)	19,612
Ending balance (in shares) at Dec. 31, 2019		1,935,400	254,770,719
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	1,285						1,285
Redemption of noncontrolling OP units for common shares	0			1,614			(1,614)
Redemption of noncontrolling OP units for common shares (in shares)			327,453
Issuance of common shares and deferred compensation amortization, net	231,699		$ 3	231,696
Issuance of common shares and deferred compensation amortization, net (in shares)			23,962,696
Repurchase of common shares	(11,042)			(11,042)
Repurchase of common shares (in shares)			(1,329,940)
Repurchase of common shares to settle tax obligations	(2,623)		$ 0	(2,623)
Repurchase of common shares to settle tax obligations (in shares)			(576,011)
Forfeiture of employee common shares	1				1
Forfeiture of employee common shares (in shares)			(2,467)
Dividends/distributions	(123,258)				(121,353)		(1,905)
Net Income	186,391				183,302		3,089
Other comprehensive loss	(16,035)					(16,035)
Balance at end of period at Dec. 31, 2020	$ 1,991,137	$ 94,016	$ 28	$ 3,196,315	$ (1,301,726)	$ (17,963)	$ 20,467
Ending balance (in shares) at Dec. 31, 2020		1,935,400	277,152,450

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 186,391	$ 285,293	$ 230,906
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	164,260	150,440	172,088
Gains on sales of properties	(139,039)	(250,889)	(252,913)
Debt satisfaction (gains) charges, net	(21,452)	4,517	2,596
Impairment charges	14,460	5,329	95,813
Straight-line rents	(13,602)	(14,264)	(20,207)
Amortization of right of use assets	3,763	3,645	0
Other non-cash (income) expense, net	6,210	6,060	(3,060)
Equity in (earnings) losses of non-consolidated entities	169	(2,890)	(1,708)
Distributions of accumulated earnings from non-consolidated entities	0	2,571	2,083
Change in accounts payable and other liabilities	2,859	(270)	(129)
Change in rent receivable and prepaid rent, net	80	3,770	(3,942)
Change in accrued interest payable	1,866	3,368	(891)
Other adjustments, net	(4,130)	(4,496)	(2,825)
Net cash provided by operating activities	201,835	192,184	217,811
Cash flows from investing activities:
Investment in real estate, including intangible assets	(611,754)	(662,010)	(315,959)
Investment in real estate under construction	(53,971)	(11,332)	0
Capital expenditures	(17,250)	(17,829)	(15,506)
Net proceeds from sale of properties	192,560	504,118	898,514
Investments in non-consolidated entities, net	(7,528)	(8,018)	(10,206)
Distributions from non-consolidated entities in excess of accumulated earnings	8,055	17,119	3,330
Payments of deferred leasing costs	(4,841)	(8,196)	(4,522)
Change in real estate deposits	379	(817)	(760)
Net cash provided by (used in) investing activities	(494,350)	(186,965)	554,891
Cash flows from financing activities:
Dividends to common and preferred shareholders	(118,384)	(122,843)	(175,537)
Principal amortization payments	(19,441)	(24,259)	(29,666)
Principal payments on debt, excluding normal amortization	0	(89,242)	(14,599)
Proceeds of mortgages and notes payable	0	0	26,350
Term loan payments	0	0	(300,000)
Revolving credit facility borrowings	170,000	110,000	150,000
Revolving credit facility payments	(170,000)	(110,000)	(310,000)
Proceeds from senior notes	396,932	0	0
Repurchase of senior notes	(112,312)	0	0
Payment for early extinguishment of debt	(11,094)	(3,505)	(5)
Payments of deferred financing costs	(3,803)	(5,456)	(690)
Cash distributions to noncontrolling interests	(1,905)	(2,763)	(3,429)
Cash contributions from noncontrolling interests	1,285	867	0
Repurchase of common shares	(11,042)	(3,598)	(47,217)
Issuance of common shares, net of costs and repurchases to settle tax obligations	222,390	197,643	(2,818)
Net cash provided by (used in) financing activities	342,626	(53,156)	(707,611)
Change in cash, cash equivalents and restricted cash	50,111	(47,937)	65,091
Cash, cash equivalents and restricted cash, at beginning of year	129,310	177,247	112,156
Cash, cash equivalents and restricted cash, at end of year	$ 179,421	$ 129,310	$ 177,247

The Company

The Company	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company Lexington Realty Trust (together with its consolidated subsidiaries, except when the context only applies to the parent entity, the “Company”) is a Maryland real estate investment trust (“REIT”) that owns a portfolio of equity investments focused on single-tenant industrial properties. As of December 31, 2020, the Company had equity ownership interests in approximately 130 consolidated properties located in 29 states. The properties in which the Company has an interest are primarily net leased to tenants in various industries. The Company believes it has qualified as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). Accordingly, the Company will not be subject to federal income tax, provided that distributions to its shareholders equal at least the amount of its REIT taxable income as defined under the Code. The Company is permitted to participate in certain activities from which it was previously precluded in order to maintain its qualification as a REIT, so long as these activities are conducted in entities which elect to be treated as taxable REIT subsidiaries (“TRS”) under the Code. As such, the TRS are subject to federal income taxes on the income from these activities. The Company conducts its operations indirectly through (1) property owner subsidiaries, which are single purpose entities, (2) a wholly-owned TRS, Lexington Realty Advisors, Inc. (“LRA”), and (3) joint ventures. Property owner subsidiaries are landlords under leases for properties in which the Company has an interest and/or borrowers under loan agreements secured by properties in which the Company has an interest and lender subsidiaries are lenders under loan agreements where the Company made an investment in a loan asset, but in all cases are separate and distinct legal entities. Each property owner subsidiary is a separate legal entity that maintains separate books and records. The assets and credit of each property owner subsidiary with a property subject to a mortgage loan are not available to creditors to satisfy the debt and other obligations of any other person, including any other property owner subsidiary or any other affiliate. Consolidated entities that are not property owner subsidiaries do not directly own any of the assets of a property owner subsidiary (or the general partner, member or managing member of such property owner subsidiary), but merely hold partnership, membership or beneficial interest therein, which interests are subordinate to the claims of such property owner subsidiary's (or its general partner's, member's or managing member's) creditors.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation. The Company's consolidated financial statements are prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial statements reflect the accounts of the Company and its consolidated subsidiaries. The Company consolidates its wholly-owned subsidiaries, partnerships and joint ventures which it controls (i) through voting rights or similar rights or (ii) by means other than voting rights if the Company is the primary beneficiary of a variable interest entity ("VIE"). Entities which the Company does not control and entities which are VIEs in which the Company is not the primary beneficiary are accounted for under the equity method of accounting. The Company is the primary beneficiary of certain VIEs as it has a controlling financial interest in these entities. Lepercq Corporate Income Fund L.P. (“LCIF”) and the ATL Fairburn L.P. (“Fairburn JV”) are consolidated and the Company has an approximate 97% and 90% interest, respectively, are VIEs. The assets of each VIE are only available to satisfy such VIE's respective liabilities. As of December 31, 2020 and 2019, the VIEs' mortgages and notes payable were non-recourse to the Company. Below is a summary of selected financial data of consolidated VIEs for which the Company is the primary beneficiary included in the consolidated balance sheets as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 Real estate, net $ 569,461 $ 592,372 Total assets $ 679,786 $ 645,623 Mortgages and notes payable, net $ 25,600 $ 82,978 Total liabilities $ 40,974 $ 101,901 In addition, the Company acquires, from time to time, properties using a reverse like-kind exchange structure pursuant to Section 1031 of the Internal Revenue Code (a "reverse 1031 exchange") and, as such, the properties are in the possession of an Exchange Accommodation Titleholder ("EAT") until the reverse 1031 exchange is completed. The EAT is classified as a VIE as it is a “thinly capitalized” entity. The Company consolidates the EAT because it is the primary beneficiary as it has the ability to control the activities that most significantly impact the EAT's economic performance and can collapse the reverse 1031 exchange structure at any time. The assets of the EAT primarily consist of leased property (net real estate and intangibles). Earnings Per Share . Basic net income (loss) per share is computed by dividing net income (loss) reduced by preferred dividends and amounts allocated to certain non-vested share-based payment awards, if applicable, by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share amounts are similarly computed but include the effect, when dilutive, of in-the-money common share options and non-vested common shares, unsettled common shares sold in forward sales transactions, OP units and put options of certain convertible securities. Use of Estimates. Management has made a number of significant estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses to prepare these consolidated financial statements in conformity with GAAP. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the economic environment. Management adjusts such estimates when facts and circumstances dictate. The most significant estimates made include the recoverability of accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, the determination of VIEs and which entities should be consolidated, the determination of impairment of long-lived assets and equity method investments, valuation of derivative financial instruments, valuation of awards granted under compensation plans, the determination of the incremental borrowing rate for leases where the Company is the lessee and the useful lives of long-lived assets. Actual results could differ materially from those estimates. Revenue Recognition. The Company recognizes lease revenue on a straight-line basis over the term of the lease unless another systematic and rational basis is more representative of the time pattern in which the use benefit is derived from the leased property. Revenue is recognized on a contractual basis for leases with escalations tied to a consumer price index with no floor. The Company evaluates the collectability of its rental payments and recognizes revenue on a cash basis when the Company believes it is no longer probable that it will receive substantially all of the remaining lease payments. Renewal options in leases with rental terms that are lower than those in the primary term are excluded from the calculation of straight-line rent if the renewals are not reasonably assured. If the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. If the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. The lease incentive is recorded as a deferred expense and amortized as a reduction of revenue on a straight-line basis over the respective lease term. The Company recognizes lease termination fees as rental revenue in the period received and writes off unamortized lease-related intangible and other lease-related account balances, provided there are no further Company obligations under the lease. Otherwise, such fees and balances are recognized on a straight-line basis over the remaining obligation period with the termination payments being recorded as a component of rent receivable-deferred on the consolidated balance sheets. Acquisition of Real Estate. The fair value of the real estate acquired, which includes the impact of fair value adjustments for assumed mortgage debt related to property acquisitions, is allocated to the acquired tangible assets, consisting of land, building and improvements and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and value of tenant relationships, based in each case on their fair values. Prior to January 1, 2018, acquisition and pursuit costs were expensed as incurred and were included in property operating expense in the accompanying consolidated statement of operations. Effective January 1, 2018, the Company's acquisitions are primarily considered asset acquisitions and acquisition costs are now capitalized. The fair value of the tangible assets of an acquired property (which includes land, building and improvements and fixtures and equipment) is determined by valuing the property as if it were vacant. The “as-if-vacant” value is then allocated to land and building and improvements based on management's determination of relative fair values of these assets. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions. Management generally retains a third party to assist in the allocations. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market lease values are recorded based on the difference between the current in-place lease rent and management's estimate of current market rents. Below-market lease intangibles are recorded as part of deferred revenue and amortized into rental revenue over the non-cancelable periods and bargain renewal periods of the respective leases. Above-market leases are recorded as part of intangible assets and amortized as a direct charge against rental revenue over the non-cancelable portion of the respective leases. The aggregate value of other acquired intangible assets, consisting of in-place leases and tenant relationship values, is measured by the excess of (1) the purchase price paid for a property over (2) the estimated fair value of the property as if vacant, determined as set forth above. This aggregate value is allocated between in-place lease values and tenant relationship values based on management's evaluation of the specific characteristics of each tenant's lease. The value of in-place leases is amortized to expense over the remaining non-cancelable periods and any bargain renewal periods of the respective leases. The value of tenant relationships is amortized to expense over the applicable lease term plus expected renewal periods. Depreciation is determined by the straight-line method over the remaining estimated economic useful lives of the properties. The Company generally depreciates its real estate assets over periods ranging up to 40 years. Impairment of Real Estate. The Company evaluates the carrying value of all tangible and intangible real estate assets held for investment for possible impairment when an event or change in circumstance has occurred that indicates its carrying value may not be recoverable. The Company considers the strategic decisions regarding the future plans to sell properties and other market factors. The Company regularly updates significant estimates and assumptions including rental rates, capitalization rates and discount rates, which are included in the anticipated future undiscounted cash flows derived from the asset. If such cash flows are less than the asset's carrying value, an impairment charge is recognized to the extent by which the asset's carrying value exceeds its estimated fair value, which may be below the balance of any non-recourse financing. Estimating future cash flows and fair values is highly subjective and such estimates could differ materially from actual results. Investments in Non-Consolidated Entities . The Company accounts for its investments in 50% or less owned entities under the equity method, unless consolidation is required. If the Company's investment in the entity is insignificant and the Company has no influence over the control of the entity then the entity is accounted for under the cost method. Impairment of Equity Method Investments. The Company assesses whether there are indicators that the value of its equity method investments may be impaired. An impairment charge is recognized only if the Company determines that a decline in the value of the investment below its carrying value is other-than-temporary. The assessment of impairment is highly subjective and involves the application of significant assumptions and judgments about the Company's intent and ability to recover its investment given the nature and operations of the underlying investment, including the level of the Company's involvement therein, among other factors. To the extent an impairment is deemed to be other-than-temporary, the loss is measured as the excess of the carrying amount of the investment over the estimated fair value of the investment. Fair Value Measurements. The Company follows the guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures ("Topic 820"), to determine the fair value of financial and non-financial instruments. Topic 820 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. Topic 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 - quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 - observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 - unobservable inputs, which are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as considering counterparty credit risk. The Company has formally elected to apply the portfolio exception within Topic 820 with respect to measuring counterparty risk for all of its derivative transactions subject to master netting arrangements. The Company estimates the fair value of its real estate assets, including non-consolidated real estate assets, by using income and market valuation techniques. The Company may estimate fair values using market information such as recent sale contracts (Level 2 inputs) or recent sale offers or discounted cash flow models, which primarily rely on Level 3 inputs. The cash flow models include estimated cash inflows and outflows over a specified holding period. These cash flows may include contractual rental revenues, projected future rental revenues and expenses and forecasted tenant improvements and lease commissions based upon market conditions determined through discussion with local real estate professionals, experience the Company has with its other owned properties in such markets and expectations for growth. Capitalization rates and discount rates utilized in these models are estimated by management based upon rates that management believes to be within a reasonable range of current market rates for the respective properties based upon an analysis of factors such as property and tenant quality, geographical location and local supply and demand observations. To the extent the Company under-estimates forecasted cash outflows (tenant improvements, lease commissions and operating costs) or over-estimates forecasted cash inflows (rental revenue rates), the estimated fair value of its real estate assets could be overstated. Cost Capitalization. We capitalize interest and direct and indirect project costs associated with the initial construction of a property up to the time the property is substantially complete and ready for its intended use. In addition, we capitalize operating costs, including real estate taxes, insurance and utilities, that have been allocated to vacant space based on the square footage of the portion of the building not held available for immediate occupancy during the extended lease-up periods after the construction of the building shell has been completed if costs are being incurred to ready the vacant space for its intended use. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once necessary work has been completed on a vacant space, project costs are no longer capitalized. Properties Held For Sale. Assets and liabilities of properties that meet various held for sale criteria, including whether it is probable that a sale will occur within 12 months, are presented separately in the consolidated balance sheets. The operating results of these properties are reflected as discontinued operations in the consolidated statements of operations only if the sale of these assets represents a strategic shift in operations; if not, the operating results are included in continuing operations. Properties classified as held for sale are carried at the lower of net carrying value or estimated fair value less costs to sell and depreciation and amortization are no longer recognized. Properties that do not meet the held for sale criteria are accounted for as operating properties. Deferred Expenses. Deferred expenses consist primarily of revolving line of credit debt and leasing costs. Debt costs are amortized using the straight-line method, which approximates the interest method, over the terms of the debt instruments and leasing costs are amortized over the term of the related lease. Derivative Financial Instruments . The Company accounts for its interest rate swap agreements in accordance with FASB ASC Topic 815, Derivatives and Hedging ("Topic 815"). In accordance with Topic 815, these agreements are carried on the balance sheet at their respective fair values, as an asset if fair value is positive, or as a liability if fair value is negative. If the interest rate swap is designated as a cash flow hedge, the portion of the interest rate swap's change in fair value is reported as a component of other comprehensive income (loss). Upon entering into hedging transactions, the Company documents the relationship between the interest rate swap agreement and the hedged item. The Company also documents its risk-management policies, including objectives and strategies, as they relate to its hedging activities. The Company assesses, both at inception of a hedge and on an ongoing basis, whether or not the hedge is highly effective. The Company will discontinue hedge accounting on a prospective basis with changes in the estimated fair value reflected in earnings when (1) it is determined that the derivative is no longer effective in offsetting cash flows of a hedged item (including forecasted transactions), (2) it is no longer probable that the forecasted transaction will occur or (3) it is determined that designating the derivative as an interest rate swap is no longer appropriate. The Company does and may continue to utilize interest rate swap and cap agreements to manage interest rate risk, but does not anticipate entering into derivative transactions for speculative trading purposes. Stock Compensation. The Company maintains an equity participation plan. Non-vested share grants generally vest either based upon (1) time, (2) performance and/or (3) market conditions. All share-based payments to employees are recognized in the consolidated statements of operations based on their fair values. The Company has made an accounting policy election to account for share-based award forfeitures in compensation costs when they occur. Tax Status. The Company has made an election to qualify, and believes it is operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, the Company generally will not be subject to federal income tax, provided that distributions to its shareholders equal at least the amount of its REIT taxable income as defined under Sections 856 through 860 of the Code. The Company is permitted to participate in certain activities from which it was previously precluded in order to maintain its qualification as a REIT, so long as these activities are conducted in entities which elect to be treated as taxable REIT subsidiaries under the Code. As such, the Company is subject to federal and state income taxes on the income from these activities. Income taxes, primarily related to the Company's taxable REIT subsidiaries, are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Cash and Cash Equivalents. The Company considers all highly liquid instruments with maturities of three months or less from the date of purchase to be cash equivalents. Restricted Cash. Restricted cash is comprised primarily of cash balances held in escrow by lender and operating cash reserves held in escrow for one property. Environmental Matters. Under various federal, state and local environmental laws, statutes, ordinances, rules and regulations, an owner of real property may be liable for the costs of removal or remediation of certain hazardous or toxic substances at, on, in or under such property as well as certain other potential costs relating to hazardous or toxic substances. These liabilities may include government fines, penalties and damages for injuries to persons and adjacent property. Such laws often impose liability without regard to whether the owner knew of, or was responsible for, the presence or disposal of such substances. Although most of the tenants of properties in which the Company has an interest are primarily responsible for any environmental damage and claims related to the leased premises, in the event of the bankruptcy or inability of the tenant of such premises to satisfy any obligations with respect to such environmental liability, or if the tenant is not responsible, the Company's property owner subsidiary may be required to satisfy any such obligations, should they exist. In addition, the property owner subsidiary, as the owner of such a property, may be held directly liable for any such damages or claims irrespective of the provisions of any lease. As of December 31, 2020, the Company was not aware of any environmental matter relating to any of its investments that would have a material impact on the consolidated financial statements. Segment Reporting. The Company operates generally in one industry segment, single-tenant real estate assets. Reclassifications . Certain amounts included in prior years' financial statements have been reclassified to conform to the current year's presentation. Upon adoption of ASC 842, the Company reclassified certain amounts on the consolidated statements of operations, primarily the reclassification of tenant reimbursements to rental revenue. As a result, rental revenue increased in 2018 by $30,608 for the reclassification of tenant reimbursements to conform with the 2019 presentation of rental revenue. New Accounting Standards Adopted in 2020. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires that entities use a new forward-looking “expected loss” model that generally will result in the earlier recognition of an allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU No. 2016-13 was effective for fiscal years beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 on a prospective basis. The Company analyzed its accounts receivable using an aging methodology and determined that there have been no historical credit losses related to its outstanding accounts receivable. As a result, the Company's adoption of this guidance did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40). This ASU addresses customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract and also adds certain disclosure requirements related to implementation costs incurred for internal-use software and cloud computing arrangements. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The standard was effective for fiscal years beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 on a prospective basis. The Company's adoption of this guidance on January 1, 2020 did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements. This ASU includes additional disclosures requirements for recurring and nonrecurring Level 3 fair value measurements including disclosure of changes in unrealized gains and losses for the period included in other comprehensive income, disclosure of the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and a narrative description of measurement uncertainty related to Level 3 measurements. This standard was effective for fiscal years beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 on a prospective basis. The adoption of this guidance on January 1, 2020 did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Guidance . In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts that reference the London Interbank Offered Rate, or LIBOR, or another reference rate expected to be discontinued because of reference rate reform. The guidance in ASU 2020-04 is optional, applies for a limited period of time to ease the potential burden in accounting for (or recognizing the effect of) reference rate reform on financial reporting, in response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of LIBOR and may be elected over time as reference rate reform activities occur. As of March 31, 2020, the Company has elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share A significant portion of the Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for each of the years in the three-year period ended December 31, 2020: 2020 2019 2018 BASIC Net income attributable to common shareholders $ 176,788 $ 273,225 $ 220,838 Weighted-average number of common shares outstanding 266,914,843 237,642,048 236,666,375 Net income attributable to common shareholders - per common share basic $ 0.66 $ 1.15 $ 0.93 DILUTED: Net income attributable to common shareholders - basic $ 176,788 $ 273,225 $ 220,838 Impact of assumed conversions — — 2,528 Net income attributable to common shareholders $ 176,788 $ 273,225 $ 223,366 Weighted-average common shares outstanding - basic 266,914,843 237,642,048 236,666,375 Effect of dilutive securities: Unvested share-based payment awards and options 1,267,709 292,467 528,495 Operating Partnership Units — — 3,616,120 Weighted-average common shares outstanding - diluted 268,182,552 237,934,515 240,810,990 Net income attributable to common shareholders - per common share diluted $ 0.66 $ 1.15 $ 0.93 For per common share amounts, all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods.

Investments in Real Estate

Investments in Real Estate	12 Months Ended
	Dec. 31, 2020
Real Estate Investments, Net [Abstract]
Investments in Real Estate	Investments in Real Estate The Company's real estate, net, consists of the following at December 31, 2020 and 2019: 2020 2019 Real estate, at cost: Buildings and building improvements $ 3,144,176 $ 2,962,982 Land, land estates and land improvements 367,272 355,697 Construction in progress 3,116 1,895 Real estate intangibles: In-place lease values 357,640 339,154 Tenant relationships 33,327 42,396 Above-market leases 18,326 28,206 Investments in real estate under construction 75,906 13,313 3,999,763 3,743,643 Accumulated depreciation and amortization (1) (884,465) (887,629) Real estate, net $ 3,115,298 $ 2,856,014 (1) Includes accumulated amortization of real estate intangible assets of $199,997 and $212,033 in 2020 and 2019, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $32,240 in 2021, $30,559 in 2022, $29,560 in 2023, $23,801 in 2024 and $19,802 in 2025. The Company had below-market leases, net of accumulated accretion, which are included in deferred revenue, of $16,531 and $19,090, respectively, as of December 31, 2020 and 2019. The estimated accretion for the next five years is $2,201 in 2021, $1,931 in 2022, $1,931 in 2023, $1,931 in 2024 and $1,865 in 2025. The Company completed the following acquisitions during 2020 and 2019: 2020: Property Type Market Acquisition Date Initial Lease Land Building and Improvements Lease in-place Value Intangible Industrial Chicago, IL January 2020 $ 53,642 11/2029 $ 3,681 $ 45,817 $ 4,144 Industrial Phoenix, AZ January 2020 19,164 12/2025 1,614 16,222 1,328 Industrial Chicago, IL January 2020 39,153 12/2029 1,788 34,301 3,064 Industrial Dallas, TX February 2020 83,495 08/2029 4,500 71,635 7,360 Industrial Savannah, GA April 2020 34,753 07/2027 1,689 30,346 2,718 Industrial Dallas, TX May 2020 10,731 06/2030 1,308 8,466 957 Industrial Savannah, GA June 2020 30,448 06/2025 2,560 25,697 2,191 Industrial Savannah, GA June 2020 9,130 08/2025 1,070 7,448 612 Industrial Houston, TX June 2020 20,949 04/2025 2,202 17,101 1,646 Industrial Ocala, FL June 2020 58,283 08/2030 4,113 49,904 4,266 Industrial DC/Baltimore, MD September 2020 29,143 11/2024 2,818 24,423 1,902 Industrial Savannah, GA September 2020 40,908 07/2026 3,775 34,322 2,811 Industrial Phoenix, AZ November 2020 87,820 03/2033 10,733 69,491 7,596 Industrial Dallas, TX December 2020 44,030 10/2024 3,938 37,185 2,907 Industrial Greenville/Spartanburg, SC December 2020 18,595 02/2031 1,186 15,814 1,595 Industrial Dallas, TX December 2020 31,556 01/2030 3,847 25,038 2,671 $ 611,800 $ 50,822 $ 513,210 $ 47,768 Weighted-average life of intangible assets (years) 8.7 2019: Real Estate Intangibles Property Type Location Acquisition Date Initial Lease Expiration Land Building and Improvements Lease in-place Value Intangible Below Market Lease Intangible Industrial Indianapolis, IN January 2019 $ 20,809 07/2025 $ 1,954 $ 16,820 $ 2,035 $ — Industrial Atlanta, GA February 2019 37,182 10/2023 3,253 30,951 2,978 — Industrial Dallas, TX April 2019 28,201 08/2023 2,420 23,330 2,451 — Industrial Greenville/Spartanburg, SC April 2019 33,253 01/2024 1,615 27,829 3,809 — Industrial Memphis, TN May 2019 49,395 04/2024 2,646 40,452 6,297 — Industrial Memphis, TN May 2019 18,316 05/2023 851 15,465 2,000 — Industrial Atlanta, GA June 2019 45,441 05/2020 3,251 40,023 2,167 — Industrial Atlanta, GA June 2019 27,353 05/2024 2,536 22,825 1,992 — Industrial Cincinnati, OH September 2019 13,762 12/2023 544 12,376 842 — Industrial Cincinnati, OH September 2019 100,288 06/2030 3,950 88,427 7,911 — Industrial Cincinnati, OH September 2019 65,763 08/2027 3,123 60,703 5,392 (3,455) Industrial Greenville/Spartanburg, SC October 2019 16,817 01/2024 1,406 14,272 1,139 — Industrial Greenville/Spartanburg, SC October 2019 15,583 04/2025 1,257 13,252 1,074 — Industrial Phoenix, AZ October 2019 21,020 09/2026 3,311 16,013 1,696 — Industrial Phoenix, AZ November 2019 67,079 09/2030 11,970 48,924 6,185 — Industrial Chicago, IL December 2019 49,348 09/2029 3,432 40,947 4,969 — Industrial Greenville/Spartanburg, SC December 2019 94,233 12/2034 6,959 78,364 8,910 — $ 703,843 $ 54,478 $ 590,973 $ 61,847 $ (3,455) Weighted-average life of intangible assets (years) 8.4 8.0 As of December 31, 2020, the Company's Investments in real estate under construction consisted of two consolidated development projects and one build-to-suit development project. As of December 31, 2020, the Company's aggregate investment in the development arrangements was $75,906, which included capitalized interest of $1,053 for the year ended December 31, 2020 and is presented as investments in real estate under construction in the accompanying consolidated balance sheets. As of December 31, 2019, capitalized interest for the development arrangements was nominal. As of December 31, 2020, the details of the development arrangements outstanding are as follows (in $000's, except square feet): Project (% owned) Market Property Type Estimated Sq. Ft. Estimated Project Cost GAAP Investment Balance as of Amount Funded as of Estimated Completion Date % Leased as of Approximate Lease Term (Years) KeHE Distributors, BTS (100%) Phoenix, AZ Industrial 468,182 $ 72,000 $ 19,609 $ 17,766 3Q 2021 100 % 15 Fairburn JV (90%) (1) Atlanta, GA Industrial 910,000 53,812 39,824 33,195 1Q 2021 0 % TBD Rickenbacker (100%) Columbus, OH Industrial 320,190 20,300 16,473 12,225 2Q 2021 100 % 3 $ 146,112 $ 75,906 $ 63,186

Dispositions and Impairment

Dispositions and Impairment	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Impairment	Dispositions and Impairment For the years ended December 31, 2020, 2019 and 2018, the Company disposed of its interests in various properties for an aggregate gross disposition price of $432,843, $504,118 and $898,514, respectively, which resulted in gains on sales of $139,039, $250,889 and $252,913, respectively, including, in 2018, the disposition of 21 office assets to a newly-formed joint venture, NNN Office JV L.P. (“NNN JV”), with an unaffiliated third-party. See note 7. Included in the 2020 dispositions are three properties which were conveyed to the lenders in forgiveness of the mortgage loan encumbering each property. The balances of the non-recourse mortgage loans were in excess of the value of the property collateral, resulting in aggregate debt satisfaction gains, net of $34,450. For the years ended December 31, 2020, 2019 and 2018, the Company recognized net debt satisfaction charges relating to properties sold of $2,879, $4,415 and $1,698, respectively. The Company had two properties classified as held for sale at December 31, 2020 and no properties classified as held for sale at December 31, 2019. Assets and liabilities of the held for sale properties as of December 31, 2020 consisted of the following: December 31, 2020 Assets: Real estate, at cost $ 32,629 Real estate, intangible assets 7,941 Accumulated depreciation and amortization (24,312) Rent receivable - deferred 79 Other 193 $ 16,530 Liabilities: Other $ 790 $ 790 The Company assesses on a regular basis whether there are any indicators that the carrying value of its real estate assets may be impaired. Potential indicators may include an increase in vacancy at a property, tenant financial instability, change in the estimated holding period of the asset, the potential sale or transfer of the property in the near future and changes in economic conditions. An asset is determined to be impaired if the asset's carrying value is in excess of its estimated fair value and the Company estimates that its cost will not be recovered.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables present the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2020 and 2019, aggregated by the level in the fair value hierarchy within which those measurements fall: Fair Value Measurements Using Description 2020 (Level 1) (Level 2) (Level 3) Interest rate swap liabilities $ (17,963) $ — $ (17,963) $ — Impaired real estate assets (1) $ 21,141 $ — $ 2,480 $ 18,661 (1) Represents non-recurring fair value measurement. The fair value is calculated as of the impairment date. $2,480 was based on an observable contract thus Level 2. The Company measured $18,661 of these fair values based on discounted cash flow analysis, using a hold period of ten years, a discount rate of 9.0% and residual capitalization rates ranging from 8.0% to 9.0%. As significant inputs to the models are unobservable, the Company determined that the value determined for these properties falls within Level 3 of the fair value reporting hierarchy. Fair Value Measurements Using Description 2019 (Level 1) (Level 2) (Level 3) Interest rate swap liabilities $ (1,928) $ — $ (1,928) $ — Impaired real estate assets (1) $ 4,846 $ — $ — $ 4,846 (1) Represents a non-recurring fair value measurement. The fair value is calculated as of the date of impairment. The majority of the inputs used to value the Company's interest rate swaps fall within Level 2 of the fair value hierarchy, such as observable market interest rate curves; however, the credit valuation associated with the interest rate swaps utilizes Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. As of December 31, 2020 and 2019, the Company determined that the credit valuation adjustment relative to the overall interest rate swaps was not significant. As a result, all interest rate swaps have been classified in Level 2 of the fair value hierarchy. The table below sets forth the carrying amounts and estimated fair values of the Company's financial instruments as of December 31, 2020 and 2019: As of December 31, 2020 As of December 31, 2019 Carrying Fair Value Carrying Fair Value Liabilities Debt $ 1,341,242 $ 1,368,151 $ 1,311,977 $ 1,276,589 The fair value of the Company's debt is primarily estimated utilizing Level 3 inputs by using a discounted cash flow analysis, based upon estimates of market interest rates. The Company determines the fair value of its Senior Notes using market prices. The inputs used in determining the fair value of these notes are categorized as Level 1 due to the fact that the Company uses quoted market rates to value these instruments. However, the inputs used in determining the fair value could be categorized as Level 2 if trading volumes are low. Fair values cannot be determined with precision, may not be substantiated by comparison to quoted prices in active markets and may not be realized upon sale. Additionally, there are inherent uncertainties in any fair value measurement technique, and changes in the underlying assumptions used, including discount rates, liquidity risks and estimates of future cash flows, could significantly affect the fair value measurement amounts. Cash Equivalents, Restricted Cash, Accounts Receivable and Accounts Payable . The Company estimates that the fair value of cash equivalents, restricted cash, accounts receivable and accounts payable approximates carrying value due to the relatively short maturity of the instruments.

Investments in Non-Consolidated

Investments in Non-Consolidated Entities	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments in Non-Consolidated Entities	Investments in Non-Consolidated Entities Below is a schedule of the Company's investments in non-consolidated entities: Percentage Ownership at Investment Balance as of Investment December 31, 2020 December 31, 2020 December 31, 2019 NNN JV (1) 20% $ 31,615 $ 39,288 Etna Park 70 LLC (2) 90% 12,514 8,352 Etna Park 70 East LLC (3) 90% 7,484 4,310 BSH Lessee L.P. (4) 25% 4,851 5,218 $ 56,464 $ 57,168 (1) NNN JV is a joint venture formed in 2018 and owns office properties formerly owned by the Company. (2) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. The Company determined that it is not the primary beneficiary. (3) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. The Company determined that it is not the primary beneficiary. (4) A joint venture investment, which owns a single-tenant, net-leased asset. During 2020, NNN JV sold two assets and the Company recognized aggregate gains on the transactions of $557 within equity in earnings (losses) of non-consolidated entities within its consolidated statement of operations. In conjunction with these property sales, NNN JV received aggregate net proceeds of $8,504 after the satisfaction of an aggregate of $40,800 of its non-recourse mortgage indebtedness. The NNN JV distributed $1,701 of the net proceeds to the Company as a result of the property sales. During 2019, NNN JV sold four assets and the Company recognized aggregate gains on the transactions of $3,529 within equity in earnings of non-consolidated entities in its consolidated statement of operations. In conjunction with these property sales, NNN JV received aggregate net proceeds of $45,208 after satisfaction of an aggregate of $101,520 of its non-recourse mortgage indebtedness. The NNN JV distributed $7,549 of the net proceeds to the Company as a result of the property sales. In February 2019, a non-consolidated real estate entity, in which the Company owned a 15% ownership interest, sold its only asset and the Company received $2,317 of proceeds. The Company recognized a gain on the transaction of $824, which is included in equity in earnings of non-consolidated entities in its consolidated statement of operations. In December 2018, the Company received $4,312 from a non-consolidated investment in connection with its sale of a six-property office portfolio. The Company earns advisory fees from certain of these non-consolidated entities for services related to acquisitions, asset management and debt placement. Advisory fees earned from these non-consolidated investments were $3,028, $3,596 and $1,443 for the years ended December 31, 2020, 2019 and 2018.

Mortgages and Notes Payable

Mortgages and Notes Payable	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Mortgages and Notes Payable	Mortgages and Notes Payable The Company had the following mortgages and notes payable outstanding as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 Mortgages and notes payable $ 138,412 $ 393,872 Unamortized debt issuance costs (1,883) (3,600) $ 136,529 $ 390,272 Interest rates, including imputed rates on mortgages and notes payable, ranged from 3.5% to 6.3% and 3.5% to 6.5% at December 31, 2020 and 2019, respectively, and all mortgages and notes payable mature between 2021 and 2032, as of December 31, 2020. The weighted-average interest rate at December 31, 2020 and 2019 was approximately 4.5%. The Company has an unsecured credit agreement with KeyBank National Association, as agent. The maturity dates and interest rates as of December 31, 2020, are as follows: Maturity Date Interest Rate $600,000 Revolving Credit Facility (1) February 2023 LIBOR + 0.90% $300,000 Term Loan (2) January 2025 LIBOR + 1.00% (1) Maturity date of the revolving credit facility can be extended to February 2024 at the Company's option. The interest rate ranges from LIBOR plus 0.775% to 1.45%. At December 31, 2020, the Company had no borrowings outstanding and availability of $600,000, subject to covenant compliance. (2) The LIBOR portion of the interest rate was swapped to obtain a current fixed rate of 2.732% per annum. The aggregate unamortized debt issuance costs for the term loan was $2,057 and $2,561 as of December 31, 2020 and 2019, respectively. The unsecured revolving credit facility and the unsecured term loan are subject to financial covenants, which the Company was in compliance with at December 31, 2020. Mortgages payable and secured loans are generally collateralized by real estate and the related leases. Certain mortgages payable have yield maintenance or defeasance requirements relating to any prepayments. Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows: Year ending Total 2021 $ 24,119 2022 12,224 2023 13,267 2024 6,431 2025 306,576 Thereafter 75,795 438,412 Unamortized debt issuance costs (3,940) $ 434,472 Included in the consolidated statements of operations, the Company recognized debt satisfaction charges, net, of $9 and $898 for the years ended December 31, 2019 and 2018, respectively, due to the satisfaction of mortgages and notes payable other than those disclosed elsewhere in these financial statements. In addition, the Company capitalized $1,745, $410 and $15 in interest for the years ended 2020, 2019 and 2018, respectively.

Senior Notes, Convertible Notes

Senior Notes, Convertible Notes and Trust Preferred Securities	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Senior Notes, Convertible Notes and Trust Preferred Securities	Senior Notes, Convertible Notes and Trust Preferred Securities The Company had the following Senior Notes outstanding as of December 31, 2020 and 2019: Issue Date December 31, 2020 December 31, 2019 Interest Rate Maturity Date Issue Price August 2020 $ 400,000 $ — 2.70 % September 2030 99.233 % May 2014 198,932 250,000 4.40 % June 2024 99.883 % June 2013 188,756 250,000 4.25 % June 2023 99.026 % 787,688 500,000 Unamortized debt discount (3,491) (963) Unamortized debt issuance cost (4,922) (2,167) $ 779,275 $ 496,870 Each series of the Senior Notes is unsecured and pays interest semi-annually in arrears. The Company may redeem the notes at its option at any time prior to maturity in whole or in part by paying the principal amount of the notes being redeemed plus a make-whole premium. In August 2020, the Company issued $400,000 aggregate principal amount of 2.70% Senior Notes due 2030 ("2030 Senior Notes") at an issuance price of 99.233% of the principal amount. The Company issued the 2030 Senior Notes at an initial discount of $3,068 which is being recognized as additional interest expense over the term of the 2030 Senior Notes. During the third quarter of 2020, the Company used a portion of the net proceeds from the offering of the 2030 Senior Notes to repurchase $61,244 and $51,068 aggregate principal balance of its outstanding 4.25% senior notes due 2023 and 4.40% senior notes due 2024, respectively, through a tender offer. The tender offer consideration included $9,531 in prepayment costs and fees and $1,024 of accrued interest. The Company recognized a $10,119 debt satisfaction charge related to the aggregate repurchases, which included a write-off of the proportionate amount of unamortized discount and debt issuance costs related to the 2023 and 2024 senior notes. During 2007, the Company issued $200,000 original principal amount of Trust Preferred Securities. The Trust Preferred Securities, which are classified as debt, are due in 2037, are open for redemption at the Company's option, bore interest at a fixed rate of 6.804% through April 2017 and thereafter bear interest at a variable rate of three month LIBOR plus 170 basis points through maturity. The interest rate at December 31, 2020 was 1.914%. As of December 31, 2020 and 2019, there was $129,120 original principal amount of Trust Preferred Securities outstanding and $1,625 and $1,724, respectively, of unamortized debt issuance costs. Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows: Year ending December 31, Total 2021 $ — 2022 — 2023 188,756 2024 198,932 2025 — Thereafter 529,120 916,808 Unamortized debt discounts (3,491) Unamortized debt issuance costs (6,547) $ 906,770

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Risk Management Objective of Using Derivatives . The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the type, amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company's derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company's known or expected cash receipts and its known or expected cash payments principally related to the Company's investments and borrowings. Cash Flow Hedges of Interest Rate Risk . The Company's objectives in using interest rate derivatives are to add stability to interest expense, to manage its exposure to interest rate movements and therefore manage its cash outflows as it relates to the underlying debt instruments. To accomplish these objectives the Company primarily uses interest rate swaps as part of its interest rate risk management strategy relating to certain of its variable rate debt instruments. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. For 2018, the ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. The Company did not incur any ineffectiveness during 2020 and 2019. During July 2019, the Company entered into four interest rate swap agreements with its counterparties. The swaps were designated as cash flow hedges of the risk of variability attributable to changes in the LIBOR swap rates on its $300,000 LIBOR-indexed variable-rate unsecured term loan. Accordingly, changes in fair value of the swaps are recorded in other comprehensive income (loss) and reclassified to earnings as interest becomes receivable or payable. The swaps expire coterminous with the extended maturity of the term loan in January 2025. During the next 12 months, the Company estimates that an additional $4,848 will be reclassified as an increase to interest expense if the swaps remain outstanding. As of December 31, 2020, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Interest Rate Derivative Number of Instruments Notional Interest Rate Swaps 4 $300,000 The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2020 and 2019. As of December 31, 2020 As of December 31, 2019 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest Rate Swap Liability Other liabilities $ (17,963) Other liabilities $ (1,928) The table below present the effect of the Company's derivative financial instruments on the consolidated statements of operations for 2020 and 2019: Derivatives in Cash Flow Amount of Loss Recognized Location of Amount of (Income) Loss Hedging Relationships 2020 2019 2020 2019 Interest Rate Swap $ (19,422) $ (1,625) Interest expense $ 3,387 $ (379) Total interest expense presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded was $55,201 and $65,095 for 2020 and 2019, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases Lessor Lexington’s lease portfolio as a lessor primarily includes general purpose, single-tenant net-leased real estate assets. Most of the Company’s leases require tenants to pay fixed annual rental payments that escalate on an annual basis and variable payments for other operating expenses, such as real estate taxes, insurance, common area maintenance ("CAM"), and utilities, that are based on the actual expenses incurred. Certain leases allow for the tenant to renew the lease term upon expiration or earlier. Periods covered by a renewal option are included within the lease term only when renewals are deemed to be reasonably certain. Certain leases allow for the tenant to terminate the lease before the expiration of the lease term and certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price upon expiration of the lease term or before. Accounting guidance under Topic 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease and determining the lease term when the contract has renewal, purchase or early termination provisions. The Company analyzes its accounts receivable, customer creditworthiness and current economic trends when evaluating the adequacy of the collectability of the lessee's total accounts receivable balance on a lease by lease basis. In addition, tenants in bankruptcy are analyzed and considerations are made in connection with the expected pre-petition and post-petition claims. If a lessee's accounts receivable balance is considered uncollectable, the Company will write-off the receivable balances associated with the lease to rental revenue and cease to recognize lease income, including straight-line rent, unless cash is received. If the Company subsequently determines that it is probable it will collect substantially all of the lessee's remaining lease payments under the lease term; the Company will reinstate the straight-line balance adjusting for the amount related to the period when the lease was accounted for on a cash basis. In February 2020, the Company wrote off a deferred rent receivable balance of $615 as a reduction of rental revenue related to a tenant that dissolved and surrendered its leased premises in an industrial property located in the Columbus, Ohio market. During 2019, rental revenue was reduced by an aggregate of $352 for accounts receivable deemed uncollectable. Certain tenants have been experiencing financial difficulties as a result of the COVID-19 pandemic. During 2020, the Company wrote off or reserved aggregate deferred rent receivable balances of $1,383, as a reduction of rental revenue, related to certain tenants as the deferred rent receivable balances were deemed uncollectable. In addition, in 2020, the Company also wrote off or reserved an aggregate of $389 accounts receivable relating to certain tenants suffering from the current economic conditions. The Company determined that the lease and non-lease components in its leases are a single lease component, which is, therefore, being recognized as rental revenue in its consolidated statements of operations. The primary non-lease service that is included within rental revenue is CAM services provided as part of the Company’s real estate leases. Topic 842 requires that the Company capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. As of December 31, 2020 and 2019, the Company incurred $67 and $191, respectively, of costs that were not incremental to the execution of leases, which are included in property operating expenses in its consolidated statements of operations. The Company manages the risk associated with the residual value of its leased properties by including contract clauses that make tenants responsible for surrendering the space in good condition upon lease termination, holding a diversified portfolio, and other activities . The Company does not have residual value guarantees on specific properties. The following table presents the Company’s classification of rental revenue for its operating leases for the year ended December 31, 2020 and 2019: Classification December 31, 2020 December 31, 2019 Fixed $ 293,457 $ 291,892 Variable (1) 32,354 28,730 Total $ 325,811 $ 320,622 (1) Primarily comprised of tenant reimbursements. Future fixed rental receipts for leases, assuming no new or re-negotiated leases as of December 31, 2020 were as follows: Year ending December 31, Total 2021 $ 272,621 2022 261,498 2023 262,632 2024 230,083 2025 202,362 Thereafter 1,102,089 Total $ 2,331,285 The above minimum lease payments do not include reimbursements to be received from tenants for certain operating expenses and real estate taxes and do not include early termination payments provided for in certain leases, if not reasonably assured. Certain leases allow for the tenant to terminate the lease if the property is deemed obsolete, as defined, and upon payment of a termination fee to the landlord, as stipulated in the lease. In addition, certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price. Lessee The Company has ground leases, corporate leases for office space, and office equipment leases. All leases were classified as operating leases as of December 31, 2020. The leases have remaining lease terms of up to 42 years, some of which include options to extend the leases in 5 to 10-year increments for up to 52 years. Renewal periods are included in the lease term only when renewal is deemed to be reasonably certain. The lease term also includes periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the termination option. The Company measures its lease payments by including fixed rental payments and variable rental payments that tie to an index or a rate, such as CPI. Minimum lease payments for leases that commenced before the date of adoption of ASC 842 were determined based on previous leases guidance under ASC 840. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term and variable lease expense not included in the lease payment measurement as incurred. The accounting guidance under Topic 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or termination provisions and determining the discount rate. The Company determines whether an arrangement is or includes a lease at contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from and can direct the use of, the identified asset for a period of time, the Company accounts for the contract as a lease. As the Company does not know the rate implicit in the respective leases, the Company used its incremental borrowing rate based on the information available at the transition date for such existing leases. The Company uses the information available at the lease commencement date to determine the discount rate for any new leases. The Company used a portfolio approach to determine its incremental borrowing rate. Lease contracts were grouped based on similar lease terms and economic environments in a manner in which the Company reasonably expects that the outcome from applying a portfolio approach does not differ materially from an individual lease approach. The Company estimated a collateralized discount rate for each portfolio of leases. Supplemental information related to operating leases as of December 31, 2020 and 2019 is as follows: The Year Ended December 31, 2020 December 31, 2019 Weighted-average remaining lease term Operating leases (years) 11.7 12.3 Weighted-average discount rate Operating leases 4.1 % 4.1 % The components of lease expense for the year ended December 31, 2020 and 2019 were as follows: Income Statement Classification Fixed Variable Total 2020: Property operating $ 3,969 $ 2 $ 3,971 General and administrative $ 1,348 105 1,453 Total $ 5,317 $ 107 $ 5,424 2019: Property operating $ 3,982 $ — $ 3,982 General and administrative 1,343 112 1,455 Total $ 5,325 $ 112 $ 5,437 The Company recognized sublease income of $3,756 and $3,764 in 2020 and 2019, respectively. The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2020: Operating Leases 2021 $ 4,843 2022 4,854 2023 4,999 2024 5,021 2025 5,021 Thereafter 17,472 Total lease payments $ 42,210 Less: Imputed interest (9,695) Present value of lease liabilities $ 32,515 The Company leases its corporate headquarters. The lease expires in March 2026. The Company is responsible for its proportionate share of operating expenses and real estate taxes above a base year. In addition, the Company leases office space for its regional office. The minimum rent payments for the Company's offices are $1,325 for 2021, $1,335 for 2022, $1,304 for 2023, $1,304 for 2024 and $1,304 for 2025 and $326 thereafter, which are included in the table above. Rent expense for 2020, 2019 and 2018 was $1,305, $1,312 and $1,274, respectively. Rent expense for the leasehold interests was $597 in 2018.
Leases	Leases Lessor Lexington’s lease portfolio as a lessor primarily includes general purpose, single-tenant net-leased real estate assets. Most of the Company’s leases require tenants to pay fixed annual rental payments that escalate on an annual basis and variable payments for other operating expenses, such as real estate taxes, insurance, common area maintenance ("CAM"), and utilities, that are based on the actual expenses incurred. Certain leases allow for the tenant to renew the lease term upon expiration or earlier. Periods covered by a renewal option are included within the lease term only when renewals are deemed to be reasonably certain. Certain leases allow for the tenant to terminate the lease before the expiration of the lease term and certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price upon expiration of the lease term or before. Accounting guidance under Topic 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease and determining the lease term when the contract has renewal, purchase or early termination provisions. The Company analyzes its accounts receivable, customer creditworthiness and current economic trends when evaluating the adequacy of the collectability of the lessee's total accounts receivable balance on a lease by lease basis. In addition, tenants in bankruptcy are analyzed and considerations are made in connection with the expected pre-petition and post-petition claims. If a lessee's accounts receivable balance is considered uncollectable, the Company will write-off the receivable balances associated with the lease to rental revenue and cease to recognize lease income, including straight-line rent, unless cash is received. If the Company subsequently determines that it is probable it will collect substantially all of the lessee's remaining lease payments under the lease term; the Company will reinstate the straight-line balance adjusting for the amount related to the period when the lease was accounted for on a cash basis. In February 2020, the Company wrote off a deferred rent receivable balance of $615 as a reduction of rental revenue related to a tenant that dissolved and surrendered its leased premises in an industrial property located in the Columbus, Ohio market. During 2019, rental revenue was reduced by an aggregate of $352 for accounts receivable deemed uncollectable. Certain tenants have been experiencing financial difficulties as a result of the COVID-19 pandemic. During 2020, the Company wrote off or reserved aggregate deferred rent receivable balances of $1,383, as a reduction of rental revenue, related to certain tenants as the deferred rent receivable balances were deemed uncollectable. In addition, in 2020, the Company also wrote off or reserved an aggregate of $389 accounts receivable relating to certain tenants suffering from the current economic conditions. The Company determined that the lease and non-lease components in its leases are a single lease component, which is, therefore, being recognized as rental revenue in its consolidated statements of operations. The primary non-lease service that is included within rental revenue is CAM services provided as part of the Company’s real estate leases. Topic 842 requires that the Company capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. As of December 31, 2020 and 2019, the Company incurred $67 and $191, respectively, of costs that were not incremental to the execution of leases, which are included in property operating expenses in its consolidated statements of operations. The Company manages the risk associated with the residual value of its leased properties by including contract clauses that make tenants responsible for surrendering the space in good condition upon lease termination, holding a diversified portfolio, and other activities . The Company does not have residual value guarantees on specific properties. The following table presents the Company’s classification of rental revenue for its operating leases for the year ended December 31, 2020 and 2019: Classification December 31, 2020 December 31, 2019 Fixed $ 293,457 $ 291,892 Variable (1) 32,354 28,730 Total $ 325,811 $ 320,622 (1) Primarily comprised of tenant reimbursements. Future fixed rental receipts for leases, assuming no new or re-negotiated leases as of December 31, 2020 were as follows: Year ending December 31, Total 2021 $ 272,621 2022 261,498 2023 262,632 2024 230,083 2025 202,362 Thereafter 1,102,089 Total $ 2,331,285 The above minimum lease payments do not include reimbursements to be received from tenants for certain operating expenses and real estate taxes and do not include early termination payments provided for in certain leases, if not reasonably assured. Certain leases allow for the tenant to terminate the lease if the property is deemed obsolete, as defined, and upon payment of a termination fee to the landlord, as stipulated in the lease. In addition, certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price. Lessee The Company has ground leases, corporate leases for office space, and office equipment leases. All leases were classified as operating leases as of December 31, 2020. The leases have remaining lease terms of up to 42 years, some of which include options to extend the leases in 5 to 10-year increments for up to 52 years. Renewal periods are included in the lease term only when renewal is deemed to be reasonably certain. The lease term also includes periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the termination option. The Company measures its lease payments by including fixed rental payments and variable rental payments that tie to an index or a rate, such as CPI. Minimum lease payments for leases that commenced before the date of adoption of ASC 842 were determined based on previous leases guidance under ASC 840. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term and variable lease expense not included in the lease payment measurement as incurred. The accounting guidance under Topic 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or termination provisions and determining the discount rate. The Company determines whether an arrangement is or includes a lease at contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from and can direct the use of, the identified asset for a period of time, the Company accounts for the contract as a lease. As the Company does not know the rate implicit in the respective leases, the Company used its incremental borrowing rate based on the information available at the transition date for such existing leases. The Company uses the information available at the lease commencement date to determine the discount rate for any new leases. The Company used a portfolio approach to determine its incremental borrowing rate. Lease contracts were grouped based on similar lease terms and economic environments in a manner in which the Company reasonably expects that the outcome from applying a portfolio approach does not differ materially from an individual lease approach. The Company estimated a collateralized discount rate for each portfolio of leases. Supplemental information related to operating leases as of December 31, 2020 and 2019 is as follows: The Year Ended December 31, 2020 December 31, 2019 Weighted-average remaining lease term Operating leases (years) 11.7 12.3 Weighted-average discount rate Operating leases 4.1 % 4.1 % The components of lease expense for the year ended December 31, 2020 and 2019 were as follows: Income Statement Classification Fixed Variable Total 2020: Property operating $ 3,969 $ 2 $ 3,971 General and administrative $ 1,348 105 1,453 Total $ 5,317 $ 107 $ 5,424 2019: Property operating $ 3,982 $ — $ 3,982 General and administrative 1,343 112 1,455 Total $ 5,325 $ 112 $ 5,437 The Company recognized sublease income of $3,756 and $3,764 in 2020 and 2019, respectively. The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2020: Operating Leases 2021 $ 4,843 2022 4,854 2023 4,999 2024 5,021 2025 5,021 Thereafter 17,472 Total lease payments $ 42,210 Less: Imputed interest (9,695) Present value of lease liabilities $ 32,515 The Company leases its corporate headquarters. The lease expires in March 2026. The Company is responsible for its proportionate share of operating expenses and real estate taxes above a base year. In addition, the Company leases office space for its regional office. The minimum rent payments for the Company's offices are $1,325 for 2021, $1,335 for 2022, $1,304 for 2023, $1,304 for 2024 and $1,304 for 2025 and $326 thereafter, which are included in the table above. Rent expense for 2020, 2019 and 2018 was $1,305, $1,312 and $1,274, respectively. Rent expense for the leasehold interests was $597 in 2018.

Concentration of Risk

Concentration of Risk	12 Months Ended
	Dec. 31, 2020
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of Risk The Company seeks to reduce its operating and leasing risks through the geographic diversification of its properties, tenant industry diversification, avoidance of dependency on a single asset and the creditworthiness of its tenants. For the years ended December 31, 2020, 2019 and 2018, no single tenant represented greater than 10% of rental revenues. Cash and cash equivalent balances at certain institutions may exceed insurable amounts. The Company believes it mitigates this risk by investing in or through major financial institutions.

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Equity	Equity At-The-Market Offering Program. The Company maintains an At-The-Market offering program ("ATM program") under which the Company can issue common shares. The following table summarizes common share issuances under the ATM program for the years ended December 31, 2020 and 2019, respectively: Year ended December 31, 2020 Shares Sold Net Proceeds 2020 ATM Issuances 5,950,882 $60,977 Year ended December 31, 2019 Shares Sold Net Proceeds 2019 ATM Issuances 9,668,748 $102,299 During 2018, the Company did not issue common shares under its ATM Program. Under the ATM program, the Company may also enter into forward sales agreements. The Company entered into forward sales transactions for the sale of 4,990,717 common shares during the year ended December 31, 2020 that have not yet been settled. Subject to the Company's right to elect cash or net share settlement, the Company expects to settle the forward sales transactions by the maturity dates in 2021. The shares had an aggregate settlement price of $55,120 at December 31, 2020, which is subject to adjustment in accordance with the forward sales contracts. The Company did not enter into forward sales contracts in 2019 or 2018. As of December 31, 2020, common shares with an aggregate value of $177,212 remain available for issuance under the ATM program. Underwritten Common Stock Offerings. During 2020, the Company issued 17,250,000 common shares at a public offering price of $9.60 per common share in an underwritten offering and generated net proceeds of approximately $164,000. During 2019, the Company issued 10,000,000 common shares at $10.09 per common share in an underwritten offering and generated net proceeds of $100,749. The net proceeds were used for working capital and for general corporate purposes, including acquisitions. Stock Based Compensation. In addition, during the years ended December 31, 2020, 2019 and 2018, the Company issued 756,380, 896,807 and 965,932 of its common shares, respectively, to certain employees and trustees. Typically, trustee share grants vest immediately. Employee share grants generally vest ratably, on anniversaries of the grant date, however, in certain situations vesting is cliff-based after a specific number of years and/or subject to meeting certain performance criteria (see note 14). Share Repurchase Program. In July 2015, the Company's Board of Trustees authorized the repurchase of up to 10,000,000 common shares and increased this authorization by 10,000,000 in 2018. This share repurchase program has no expiration date. During the years ended December 31, 2020, 2019 and 2018, the Company repurchased and retired 1,329,940, 441,581 and 5,851,252 common shares, respectively, at an average price of $8.28, $8.13 and $8.05, respectively, per common share under the share repurchase program. As of December 31, 2020, 8,976,315 common shares remain available for repurchase under this authorization. The Company records a liability for repurchases that have not yet been settled as of the period end. There were no unsettled repurchases as of December 31, 2020. A summary of the changes in accumulated other comprehensive income (loss) related to the Company's cash flow hedges is as follows: Twelve months ended December 31, 2020 2019 Balance at beginning of period $ (1,928) $ 76 Other comprehensive income (loss) before reclassifications (19,422) (1,625) Amounts of income reclassified from accumulated other comprehensive income (loss) to interest expense 3,387 (379) Balance at end of period $ (17,963) $ (1,928) Noncontrolling Interests: In conjunction with several of the Company's acquisitions in prior years, sellers were issued limited partner interests in LCIF (“OP units”) OP units as a form of consideration. All OP units, other than OP units owned by the Company, are redeemable for common shares at certain times, at the option of the holders, and are generally not otherwise mandatorily redeemable by the Company. The OP units are classified as a component of permanent equity as the Company has determined that the OP units are not redeemable securities as defined by GAAP. Each OP unit is currently redeemable for approximately 1.13 common shares, subject to future adjustments. During 2020, 2019 and 2018, 327,453, 391,993 and 53,388 common shares, respectively, were issued by the Company, in connection with OP unit redemptions, for an aggregate value of $1,614, $1,655 and $189, respectively. As of December 31, 2020, there were approximately 2,538,000 OP units outstanding other than OP units owned by the Company. All OP units receive distributions in accordance with the LCIF partnership agreement. To the extent that the Company's dividend per common share is less than the stated distribution per OP unit per the LCIF partnership agreement, the distributions per OP unit are reduced by the percentage reduction in the Company's dividend per common share. No OP units have a liquidation preference. The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests: Net Income Attributable to Shareholders and Transfers from Noncontrolling Interests 2020 2019 2018 Net income attributable to Lexington Realty Trust shareholders $ 183,302 $ 279,910 $ 227,415 Transfers (to) from noncontrolling interests: Decrease in additional paid-in-capital for reallocation of noncontrolling interests — (973) — Increase in additional paid-in-capital for redemption of noncontrolling OP units 1,614 1,655 189 Change from net income attributable to shareholders and transfers from noncontrolling interests $ 184,916 $ 280,592 $ 227,604

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2020
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]
Benefit Plans	Benefit Plans The Company maintains an equity award plan pursuant to which qualified and non-qualified options may be issued. No common share options were issued in 2020, 2019 and 2018. The Company granted 1,248,501, 1,265,500 and 2,000,000 common share options on December 31, 2010 (“2010 options”), January 8, 2010 (“2009 options”) and December 31, 2008 (“2008 options”), respectively, at an exercise price of $7.95, $6.39 and $5.60, respectively. The 2010 options (1) vested 20% annually on each December 31, 2011 through 2015 and (2) terminated on the earlier of (x) six months of termination of service with the Company and (y) December 31, 2020. The 2009 options (1) vested 20% annually on each December 31, 2010 through 2014 and (2) terminated on the earlier of (x) six months of termination of service with the Company and (y) December 31, 2019. The 2008 options (1) vested 50% following a 20-day trading period where the average closing price of a common share of the Company on the New York Stock Exchange (“NYSE”) was $8.00 or higher and vested 50% following a 20-day trading period where the average closing price of a common share of the Company on the NYSE was $10.00 or higher, and (2) terminated on the earlier of (x) termination of service with the Company or (y) December 31, 2018. As a result of the share dividends paid in 2009, each of the 2008 options were exchangeable for approximately 1.13 common shares at an exercise price of $4.97 per common share. The Company recognized compensation expense relating to these options over an average of 5.0 years for the 2010 options and 2009 options and 3.6 years for the 2008 options. All deferred compensation costs relating to the outstanding options were fully amortized by December 31, 2015. The intrinsic value of an option is the amount by which the market value of the underlying common share at the date the option is exercised exceeds the exercise price of the option. The total intrinsic value of options exercised for the years ended December 31, 2020, 2019 and 2018 were $106, $271 and $26, respectively. Share option activity during the years indicated is as follows: Number of Weighted-Average Balance at December 31, 2018 118,400 $ 7.44 Exercised (84,400) 7.24 Balance at December 31, 2019 34,000 7.95 Exercised (34,000) 7.95 Balance at December 31, 2020 — $ — Non-vested share activity for the years ended December 31, 2020 and 2019, is as follows: Number of Weighted-Average Grant-Date Fair Balance at December 31, 2018 3,455,077 $ 7.34 Granted 829,581 5.97 Vested (151,447) 5.06 Forfeited (1,191,799) 6.76 Balance at December 31, 2019 2,941,412 7.30 Granted 709,250 7.77 Vested (613,504) 8.80 Forfeited (332,429) 5.30 Balance at December 31, 2020 2,704,729 $ 7.27 During 2020 and 2019, the Company granted common shares to certain employees and trustees as follows: 2020 2019 Performance Shares (1) Shares issued: Index 232,993 276,063 Peer 232,987 276,058 Grant date fair value per share: (2) Index $6.59 $5.05 Peer $5.97 $4.67 Non-Vested Common Shares: (3) Shares issued 243,270 277,460 Grant date fair value $2,581 $2,270 (1) The shares vest based on the Company's total shareholder return growth after a three (2) The fair value of grants was determined at the grant date using a Monte Carlo simulation model. (3) The shares vest ratably over a three In addition, during 2020, 2019 and 2018, the Company issued 47,130, 67,226, and 66,318, respectively, of fully vested common shares to non-management members of the Company's Board of Trustees with a fair value of $500, $595, and $599, respectively. As of December 31, 2020, of the remaining 2,704,729 non-vested shares, 1,024,584 are subject to time-based vesting and 1,680,145 are subject to performance-based vesting. At December 31, 2020, there are 2,359,683 awards available for grant. The Company has $6,122 in unrecognized compensation costs relating to the non-vested shares that will be charged to compensation expense over an average of approximately 1.6 years. The Company has established a trust for certain officers in which vested common shares granted for the benefit of the officers are deposited. The officers exert no control over the common shares in the trust and the common shares are available to the general creditors of the Company. As of December 31, 2020 and 2019, there were 130,863 common shares in the trust. The Company sponsors a 401(k) retirement savings plan covering all eligible employees. The Company makes a discretionary matching contribution on a portion of employee participant salaries and, based on its profitability, may make an additional discretionary contribution at each fiscal year end to all eligible employees. These discretionary contributions are subject to vesting under a schedule providing for 25% annual vesting starting with the first year of employment and 100% vesting after four years of employment. Approximately $393, $403 and $397 of contributions are applicable to 2020, 2019 and 2018, respectively. During 2020, 2019 and 2018, the Company recognized $6,185, $5,831 and $6,302, respectively, in expense relating to scheduled vesting of common share grants.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThere were no related party transactions other than those disclosed elsewhere in this Annual Report and the consolidated financial statements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes relates primarily to the taxable income of the Company's taxable REIT subsidiaries. The earnings, other than in taxable REIT subsidiaries, of the Company are not generally subject to federal income taxes at the Company level due to the REIT election made by the Company. Income taxes have been provided for on the asset and liability method. Under the asset and liability method, deferred income taxes are recognized for the temporary differences between the financial reporting basis and the tax basis of assets and liabilities. The Company's provision for income taxes for the years ended December 31, 2020, 2019 and 2018 is summarized as follows: 2020 2019 2018 Current: Federal $ (173) $ (70) $ (60) State and local (1,411) (1,309) (1,668) $ (1,584) $ (1,379) $ (1,728) The income tax provision differs from the amount computed by applying the statutory federal income tax rate to pre-tax operating income as follows: 2020 2019 2018 Federal provision at statutory tax rate (21%) $ (195) $ (73) $ (65) State and local taxes, net of federal benefit (77) (10) (11) Other (1,312) (1,296) (1,652) $ (1,584) $ (1,379) $ (1,728) For the years ended December 31, 2020, 2019 and 2018, the “other” amount is comprised primarily of state franchise taxes of $1,314, $1,289 and $1,679, respectively. A summary of the average taxable nature of the Company's common dividends for each of the years in the three-year period ended December 31, 2020, is as follows: 2020 2019 2018 Total dividends per share $ 0.420 $ 0.485 $ 0.710 Ordinary income 95.10 % 61.07 % 87.89 % Qualifying dividend 0.60 % 0.22 % 0.14 % Capital gain — — — Return of capital 4.30 % 38.71 % 11.97 % 100.00 % 100.00 % 100.00 % A summary of the average taxable nature of the Company's dividend on shares of its Series C Preferred for each of the years in the three-year period ended December 31, 2020, is as follows: 2020 2019 2018 Total dividends per share $ 3.25 $ 3.25 $ 3.25 Ordinary income 99.38 % 99.64 % 99.84 % Qualifying dividend 0.62 % 0.36 % 0.16 Capital gain — — — Return of capital — — — 100.00 % 100.00 % 100.00 %

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In addition to the commitments and contingencies disclosed elsewhere, the Company has the following commitments and contingencies. The Company is obligated under certain tenant leases, including its proportionate share for leases for non-consolidated entities, to fund the expansion of the underlying leased properties. The Company, under certain circumstances, may guarantee to tenants the completion of base building improvements and the payment of tenant improvement allowances and lease commissions on behalf of its subsidiaries. The Company had five development projects as of December 31, 2020, which are described in "Properties" in Part I, Item 2 of this Annual Report. The Company has committed to develop three consolidated development projects and expects to incur approximately $75,985 in 2021 to substantially complete construction of the projects. The remaining two development projects are owned by non-consolidated joint ventures. Due to the early stage of development of each project and the uncertainty of construction schedules at such stage, the Company is unable to estimate the timing of the required fundings for the non-consolidated development projects. The Company and LCIF are parties to a funding agreement under which the Company may be required to fund distributions made on account of LCIF's OP units. Pursuant to the funding agreement, the parties agreed that, if LCIF does not have sufficient cash available to make a quarterly distribution to its limited partners in an amount in accordance with the partnership agreement, Lexington will fund the shortfall. Payments under the agreement will be made in the form of loans to LCIF and will bear interest at prevailing rates as determined by the Company in its discretion but, no less than the applicable federal rate. LCIF's right to receive these loans will expire if no OP units remain outstanding and all such loans are repaid. No amounts have been advanced under this agreement. From time to time, the Company is directly or indirectly involved in legal proceedings arising in the ordinary course of business. Management believes, based on currently available information, and after consultation with legal counsel, that although the outcomes of those normal course proceedings are uncertain, the results of such proceedings, in the aggregate, will not have a material adverse effect on the Company's business, financial condition and results of operations.

Supplemental Disclosure of Stat

Supplemental Disclosure of Statement of Cash Flow Information	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosure of Statement of Cash Flow Information	Supplemental Disclosure of Statement of Cash Flow Information 2020 2019 2018 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents at beginning of period $ 122,666 $ 168,750 $ 107,762 Restricted cash at beginning of period 6,644 8,497 4,394 Cash, cash equivalents and restricted cash at beginning of period $ 129,310 $ 177,247 $ 112,156 Cash and cash equivalents at end of period $ 178,795 $ 122,666 $ 168,750 Restricted cash at end of period 626 6,644 8,497 Cash, cash equivalents and restricted cash at end of period $ 179,421 $ 129,310 $ 177,247 In addition to disclosures discussed elsewhere, during 2020, 2019 and 2018, the Company paid $52,059, $59,018 and $76,562, respectively, for interest and $1,748, $1,482 and $2,025, respectively, for income taxes. As a result of the foreclosure of three office properties located in South Carolina, Kansas and Florida, during 2020, there was an aggregate non-cash charge of $57,356 and $28,078 in mortgages and notes payable, net, and real estate, net, respectively. In 2020, the Company sold its interest in a property, which included the assumption by the buyer of the related non-recourse mortgage debt of $178,662. During 2020, the Company exercised extension options on two ground leases related to parcels of land located in Owensboro, Kentucky and Orlando, Florida. The extensions of the ground lease terms resulted in an aggregate non-cash increase of $719 to the related operating lease liabilities and right of use assets. During 2019, the Company assumed a $41,877 non-recourse mortgage debt upon the acquisition of a property. In addition, in 2019, the Company sold its interest in a property, which included the assumption by the buyer of the related non-recourse mortgage debt of $110,000.

Unaudited Quarterly Financial D

Unaudited Quarterly Financial Data	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Unaudited Quarterly Financial Data	Unaudited Quarterly Financial Data 3/31/2020 6/30/2020 9/30/2020 12/31/2020 Total gross revenues $ 80,827 $ 81,792 $ 84,514 $ 83,315 Net income $ 18,420 $ 19,131 $ 43,618 $ 105,222 Net income attributable to common shareholders $ 16,536 $ 17,254 $ 40,285 $ 102,712 Net income attributable to common shareholders - basic per share $ 0.07 $ 0.07 $ 0.15 $ 0.37 Net income attributable to common shareholders - diluted per share $ 0.06 $ 0.06 $ 0.15 $ 0.37 3/31/2019 6/30/2019 9/30/2019 12/31/2019 Total gross revenues $ 81,248 $ 80,135 $ 81,550 $ 83,036 Net income $ 28,280 $ 23,769 $ 147,821 $ 85,423 Net income attributable to common shareholders $ 26,405 $ 21,721 $ 141,560 $ 83,574 Net income attributable to common shareholders - basic per share $ 0.11 $ 0.09 $ 0.60 $ 0.34 Net income attributable to common shareholders - diluted per share $ 0.11 $ 0.09 $ 0.59 $ 0.33

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent to December 31, 2020 and in addition to disclosures elsewhere in the financial statements, the Company: – acquired three industrial properties for an aggregate cost of approximately $50,800; and

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation and Amortization	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III	Description Location Encumbrances Land and Land Estates Buildings and Improvements Total Accumulated Depreciation and Amortization (1) Date Acquired Date Constructed INDUSTRIAL PROPERTIES Single-tenant Industrial Anniston, AL $ — $ 1,201 $ 16,771 $ 17,972 $ 4,738 Dec-14 Industrial Opelika, AL — 142 31,734 31,876 4,608 Jul-17 2017 Industrial Chandler, AZ — 10,733 69,491 80,224 538 Nov-20 Industrial Goodyear, AZ — 5,247 36,115 41,362 3,438 Nov-18 Industrial Goodyear, AZ 41,877 11,970 48,925 60,895 2,384 Nov-19 Industrial Goodyear, AZ — 1,614 16,222 17,836 658 Jan-20 Industrial Tolleson, AZ — 3,311 16,013 19,324 883 Oct-19 Industrial Ocala, FL — 4,113 49,936 54,049 1,093 Jun-20 Industrial Orlando, FL — 1,030 10,869 11,899 4,290 Dec-06 Industrial Tampa, FL — 2,160 9,125 11,285 7,342 Jul-88 Industrial Austell, GA — 3,251 48,459 51,710 3,238 Jun-19 Industrial McDonough, GA — 5,441 52,790 58,231 7,485 Aug-17 Industrial McDonough, GA — 3,253 30,956 34,209 2,587 Feb-19 Industrial Pooler, GA — 1,690 30,346 32,036 999 Apr-20 Industrial Savannah, GA — 2,560 25,717 28,277 645 Jun-20 Industrial Savannah, GA — 1,070 7,458 8,528 187 Jun-20 Industrial Union City, GA — 2,536 22,830 25,366 1,512 Jun-19 Industrial McDonough, GA — 2,463 24,811 27,274 9,085 Dec-06 Industrial Savannah, GA — 3,775 34,325 38,100 379 Sep-20 Industrial Edwardsville, IL — 4,593 34,362 38,955 5,697 Dec-16 Industrial Edwardsville, IL — 3,649 41,310 44,959 4,660 Jun-18 Industrial Minooka, IL — 1,788 34,301 36,089 1,314 Jan-20 Industrial Minooka, IL — 3,432 40,949 44,381 1,775 Dec-19 Industrial Minooka, IL — 3,681 45,817 49,498 1,936 Jan-20 Industrial Rantoul, IL — 1,304 32,562 33,866 6,263 Jan-14 2014 Industrial Rockford, IL — 371 2,647 3,018 1,021 Dec-06 Industrial Rockford, IL — 509 5,921 6,430 2,077 Dec-06 Industrial Romeoville, IL — 7,524 40,167 47,691 6,778 Dec-16 Industrial Lafayette, IN — 662 15,578 16,240 2,600 Oct-17 Industrial Lebanon, IN — 2,100 29,907 32,007 4,747 Feb-17 Industrial Whitestown, IN — 1,954 16,821 18,775 1,437 Jan-19 Industrial New Century, KS — — 13,330 13,330 2,286 Feb-17 Industrial Dry Ridge, KY — 568 12,553 13,121 6,761 Jun-05 Industrial Elizabethtown, KY — 890 26,868 27,758 14,472 Jun-05 Industrial Elizabethtown, KY — 352 4,862 5,214 2,619 Jun-05 Industrial Hopkinsville, KY — 631 16,154 16,785 9,283 Jun-05 Industrial Owensboro, KY — 393 11,956 12,349 7,468 Jun-05 Industrial Owensboro, KY — 819 2,439 3,258 1,247 Dec-06 Industrial Shreveport, LA — 1,078 10,134 11,212 3,121 Jun-12 2012 Industrial Shreveport, LA — 860 21,840 22,700 7,531 Mar-07 Industrial North Berwick, ME — 1,383 35,659 37,042 12,526 Dec-06 Industrial Detroit, MI — 1,133 25,009 26,142 6,504 Jan-16 Industrial Kalamazoo, MI — 958 4,725 5,683 80 Sep-12 Industrial Marshall, MI — 143 4,302 4,445 3,658 Sep-12 Industrial Plymouth, MI — 2,296 15,772 18,068 7,325 Jun-07 Industrial Romulus, MI — 2,438 33,786 36,224 5,615 Nov-17 Industrial Warren, MI 25,850 972 42,521 43,493 5,628 Nov-17 Industrial Minneapolis, MN — 1,886 1,922 3,808 499 Sep-12 Industrial Byhalia, MS — 1,006 35,795 36,801 8,460 May-11 2011 Industrial Byhalia, MS — 1,751 31,236 32,987 5,913 Sep-17 Industrial Canton, MS — 5,077 71,289 76,366 19,856 Mar-15 Industrial Olive Branch, MS — 2,500 42,556 45,056 5,393 Apr-18 Industrial Olive Branch, MS — 1,958 38,702 40,660 4,920 Apr-18 Industrial Olive Branch, MS — 2,646 40,446 43,092 2,756 May-19 Industrial Olive Branch, MS — 851 15,464 16,315 1,041 May-19 Description Location Encumbrances Land and Land Estates Buildings and Improvements Total Accumulated Depreciation and Amortization (1) Date Acquired Date Constructed Industrial Henderson, NC — 1,488 7,185 8,673 2,846 Nov-01 Industrial Lumberton, NC — 405 12,049 12,454 5,426 Dec-06 Industrial Shelby, NC — 1,421 18,862 20,283 6,713 Jun-11 2011 Industrial Durham, NH — 2,426 6,982 9,408 — Jun-07 Industrial North Las Vegas, NV — 3,244 21,732 24,976 4,214 Jul-13 2014 Industrial Erwin, NY — 1,648 12,514 14,162 4,021 Sep-12 Industrial Long Island City, NY 32,779 — 42,759 42,759 22,280 Mar-13 2013 Industrial Cincinnati, OH — 1,049 8,784 9,833 3,655 Dec-06 Industrial Columbus, OH — 1,990 12,451 14,441 4,904 Dec-06 Industrial Glenwillow, OH — 2,228 24,530 26,758 8,971 Dec-06 Industrial Hebron, OH — 1,063 4,947 6,010 2,383 Dec-97 Industrial Hebron, OH — 1,681 8,179 9,860 4,119 Dec-01 Industrial Morone, OH — 544 12,370 12,914 706 Sep-19 Industrial Morone, OH — 3,123 60,702 63,825 3,612 Sep-19 Industrial Morone, OH — 3,950 88,422 92,372 5,067 Sep-19 Industrial Streetsboro, OH — 2,441 25,282 27,723 11,198 Jun-07 Industrial Wilsonville, OR — 6,815 32,424 39,239 6,025 Sep-16 Industrial Bristol, PA — 2,508 15,863 18,371 8,802 Mar-98 Industrial Chester, SC 4,913 1,629 8,470 10,099 2,578 Sep-12 Industrial Duncan, SC — 1,406 14,272 15,678 775 Oct-19 Industrial Duncan, SC — 1,257 13,252 14,509 722 Oct-19 Industrial Duncan, SC — 1,615 27,830 29,445 2,052 Apr-19 Industrial Duncan, SC — 884 8,755 9,639 3,042 Jun-07 Industrial Greer, SC — 6,959 78,405 85,364 3,331 Dec-19 Industrial Laurens, SC — 5,552 21,908 27,460 9,002 Jun-07 Industrial Spartanburg,SC — 1,447 23,758 25,205 2,987 Aug-18 Industrial Spartanburg, SC — 1,186 15,814 17,000 — Dec-20 Industrial Cleveland, TN — 1,871 29,743 31,614 4,759 May-17 Industrial Crossville, TN — 545 6,999 7,544 5,277 Jan-06 Industrial Franklin, TN — — 5,673 5,673 3,980 Sep-12 Industrial Jackson, TN — 1,454 49,031 50,485 6,823 Sep-17 Industrial Lewisburg, TN — 173 10,865 11,038 2,262 May-14 Industrial Millington, TN — 723 19,383 20,106 14,810 Apr-05 Industrial Smyrna, TN — 1,793 93,940 95,733 13,400 Sep-17 Industrial Arlington, TX — 589 7,739 8,328 2,193 Sep-12 Industrial Brookshire, TX — 2,388 16,614 19,002 4,401 Mar-15 Industrial Carrollton, TX — 3,228 15,784 19,012 2,309 Sep-18 Industrial Dallas, TX — 2,420 23,330 25,750 1,642 Apr-19 Industrial Grand Prairie, TX — 3,166 17,985 21,151 2,730 Jun-17 Industrial Houston, TX — 4,674 19,540 24,214 11,599 Mar-15 Industrial Houston, TX — 15,055 57,949 73,004 13,979 Mar-13 Industrial Hutchins, TX — 1,307 8,466 9,773 220 May-20 Industrial Lancaster, TX — 3,847 25,038 28,885 — Dec-20 Industrial Missouri City, TX — 14,555 5,895 20,450 5,895 Apr-12 Industrial Northlake, TX — 4,500 71,636 76,136 2,552 Feb-20 Industrial Northlake, TX — 3,938 37,185 41,123 139 Dec-20 Industrial Pasadena, TX — 2,202 17,096 19,298 368 Jun-20 Industrial Pasadena, TX — 4,057 17,810 21,867 1,899 Aug-18 Industrial San Antonio, TX — 1,311 36,644 37,955 5,517 Jun-17 Industrial Chester, VA — 8,544 53,067 61,611 5,488 Dec-18 Industrial Winchester, VA — 1,988 32,536 34,524 4,176 Dec-17 Industrial Winchester, VA — 3,823 12,276 16,099 4,918 Jun-07 Industrial Winchester, VA — 2,818 24,423 27,241 357 Sep-20 Industrial Bingen, WA — — 18,075 18,075 6,132 May-14 2014 Multi-tenant/vacant Industrial Statesville, NC — 891 16,771 17,662 6,545 Dec-06 Industrial Chillicothe, OH — 735 10,939 11,674 3,911 Oct-11 Description Location Encumbrances Land and Land Estates Buildings and Improvements Total Accumulated Depreciation and Amortization (1) Date Acquired Date Constructed Industrial Antioch, TN — 3,847 12,659 16,506 4,575 May-07 OFFICE PROPERTIES Single-tenant Office Tucson, AZ — 681 4,037 4,718 1,427 Sep-12 Office Palo Alto, CA 20,176 12,398 16,977 29,375 25,642 Dec-06 Office McDonough, GA — 693 6,405 7,098 1,942 Sep-12 Office Wall, NJ 1,867 8,985 26,961 35,946 17,824 Jan-04 Office Whippany, NJ 10,950 4,063 19,711 23,774 11,449 Nov-06 Office Philadelphia, PA — 13,209 66,071 79,280 45,920 Jun-05 Office Florence, SC — 774 3,629 4,403 938 Feb-12 2012 Office Fort Mill, SC — 1,798 26,964 28,762 20,773 Nov-04 Office Fort Mill, SC — 3,601 16,306 19,907 7,381 Dec-02 Office Arlington, TX — 1,274 15,777 17,051 4,536 Sep-12 Office Mission, TX — 2,556 2,911 5,467 1,270 Sep-12 Office Herndon, VA — 5,127 25,293 30,420 12,789 Dec-99 Multi-tenant/vacant Office Phoenix, AZ — 1,096 6,228 7,324 806 Nov-01 Office Baton Rouge, LA — 340 1,535 1,875 — May-07 OTHER PROPERTIES Single-tenant/Specialty Other Venice, FL — 4,696 11,753 16,449 10,712 Jan-15 Other Baltimore, MD — 4,605 — 4,605 — Dec-06 Other Baltimore, MD — 5,000 — 5,000 — Dec-15 Multi-tenant Other Honolulu, HI — 8,259 7,471 15,730 7,416 Dec-06 Construction in progress — — — 3,116 — Deferred loan costs, net (1,883) — — — — $ 136,529 $ 367,272 $ 3,144,176 $ 3,514,564 $ 684,468 (1) Depreciation and amortization expense is calculated on a straight-line basis over the following lives: Building and improvements Up to 40 years Land estates Up to 51 years Tenant improvements Shorter of useful life or term of related lease The initial cost includes the purchase price paid directly or indirectly by the Company. The total cost basis of the Company's properties at December 31, 2020 for federal income tax purposes was approximately $4.0 billion. 2020 2019 2018 Reconciliation of real estate, at cost: Balance at the beginning of year $ 3,320,574 $ 3,090,134 $ 3,936,459 Additions during year 580,861 663,742 310,207 Properties sold and impaired during the year (354,218) (496,730) (1,091,956) Other reclassifications (32,653) 63,428 (64,576) Balance at end of year $ 3,514,564 $ 3,320,574 $ 3,090,134 Reconciliation of accumulated depreciation and amortization: Balance at the beginning of year $ 675,596 $ 722,644 $ 890,969 Depreciation and amortization expense 127,504 118,525 136,571 Accumulated depreciation and amortization of properties sold and impaired during year (102,261) (177,709) (290,938) Other reclassifications (16,371) 12,136 (13,958) Balance at end of year $ 684,468 $ 675,596 $ 722,644

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation. The Company's consolidated financial statements are prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial statements reflect the accounts of the Company and its consolidated subsidiaries. The Company consolidates its wholly-owned subsidiaries, partnerships and joint ventures which it controls (i) through voting rights or similar rights or (ii) by means other than voting rights if the Company is the primary beneficiary of a variable interest entity ("VIE"). Entities which the Company does not control and entities which are VIEs in which the Company is not the primary beneficiary are accounted for under the equity method of accounting.
Earnings Per Share	Earnings Per Share . Basic net income (loss) per share is computed by dividing net income (loss) reduced by preferred dividends and amounts allocated to certain non-vested share-based payment awards, if applicable, by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share amounts are similarly computed but include the effect, when dilutive, of in-the-money common share options and non-vested common shares, unsettled common shares sold in forward sales transactions, OP units and put options of certain convertible securities.
Use of Estimates	Use of Estimates. Management has made a number of significant estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses to prepare these consolidated financial statements in conformity with GAAP. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the economic environment. Management adjusts such estimates when facts and circumstances dictate. The most significant estimates made include the recoverability of accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, the determination of VIEs and which entities should be consolidated, the determination of impairment of long-lived assets and equity method investments, valuation of derivative financial instruments, valuation of awards granted under compensation plans, the determination of the incremental borrowing rate for leases where the Company is the lessee and the useful lives of long-lived assets. Actual results could differ materially from those estimates.
Revenue Recognition	Revenue Recognition. The Company recognizes lease revenue on a straight-line basis over the term of the lease unless another systematic and rational basis is more representative of the time pattern in which the use benefit is derived from the leased property. Revenue is recognized on a contractual basis for leases with escalations tied to a consumer price index with no floor. The Company evaluates the collectability of its rental payments and recognizes revenue on a cash basis when the Company believes it is no longer probable that it will receive substantially all of the remaining lease payments. Renewal options in leases with rental terms that are lower than those in the primary term are excluded from the calculation of straight-line rent if the renewals are not reasonably assured. If the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. If the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. The lease incentive is recorded as a deferred expense and amortized as a reduction of revenue on a straight-line basis over the respective lease term. The Company recognizes lease termination fees as rental revenue in the period received and writes off unamortized lease-related intangible and other lease-related account balances, provided there are no further Company obligations under the lease. Otherwise, such fees and balances are recognized on a straight-line basis over the remaining obligation period with the termination payments being recorded as a component of rent receivable-deferred on the consolidated balance sheets.
Acquisition of Real Estate	Acquisition of Real Estate. The fair value of the real estate acquired, which includes the impact of fair value adjustments for assumed mortgage debt related to property acquisitions, is allocated to the acquired tangible assets, consisting of land, building and improvements and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and value of tenant relationships, based in each case on their fair values. Prior to January 1, 2018, acquisition and pursuit costs were expensed as incurred and were included in property operating expense in the accompanying consolidated statement of operations. Effective January 1, 2018, the Company's acquisitions are primarily considered asset acquisitions and acquisition costs are now capitalized. The fair value of the tangible assets of an acquired property (which includes land, building and improvements and fixtures and equipment) is determined by valuing the property as if it were vacant. The “as-if-vacant” value is then allocated to land and building and improvements based on management's determination of relative fair values of these assets. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions. Management generally retains a third party to assist in the allocations. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market lease values are recorded based on the difference between the current in-place lease rent and management's estimate of current market rents. Below-market lease intangibles are recorded as part of deferred revenue and amortized into rental revenue over the non-cancelable periods and bargain renewal periods of the respective leases. Above-market leases are recorded as part of intangible assets and amortized as a direct charge against rental revenue over the non-cancelable portion of the respective leases. The aggregate value of other acquired intangible assets, consisting of in-place leases and tenant relationship values, is measured by the excess of (1) the purchase price paid for a property over (2) the estimated fair value of the property as if vacant, determined as set forth above. This aggregate value is allocated between in-place lease values and tenant relationship values based on management's evaluation of the specific characteristics of each tenant's lease. The value of in-place leases is amortized to expense over the remaining non-cancelable periods and any bargain renewal periods of the respective leases. The value of tenant relationships is amortized to expense over the applicable lease term plus expected renewal periods. Depreciation is determined by the straight-line method over the remaining estimated economic useful lives of the properties. The Company generally depreciates its real estate assets over periods ranging up to 40 years.
Impairment of Real Estate	Impairment of Real Estate. The Company evaluates the carrying value of all tangible and intangible real estate assets held for investment for possible impairment when an event or change in circumstance has occurred that indicates its carrying value may not be recoverable. The Company considers the strategic decisions regarding the future plans to sell properties and other market factors. The Company regularly updates significant estimates and assumptions including rental rates, capitalization rates and discount rates, which are included in the anticipated future undiscounted cash flows derived from the asset. If such cash flows are less than the asset's carrying value, an impairment charge is recognized to the extent by which the asset's carrying value exceeds its estimated fair value, which may be below the balance of any non-recourse financing. Estimating future cash flows and fair values is highly subjective and such estimates could differ materially from actual results.
Investments in Non-Consolidated Entities	Investments in Non-Consolidated Entities . The Company accounts for its investments in 50% or less owned entities under the equity method, unless consolidation is required. If the Company's investment in the entity is insignificant and the Company has no influence over the control of the entity then the entity is accounted for under the cost method.
Impairment of Equity Method Investments	Impairment of Equity Method Investments. The Company assesses whether there are indicators that the value of its equity method investments may be impaired. An impairment charge is recognized only if the Company determines that a decline in the value of the investment below its carrying value is other-than-temporary. The assessment of impairment is highly subjective and involves the application of significant assumptions and judgments about the Company's intent and ability to recover its investment given the nature and operations of the underlying investment, including the level of the Company's involvement therein, among other factors. To the extent an impairment is deemed to be other-than-temporary, the loss is measured as the excess of the carrying amount of the investment over the estimated fair value of the investment.
Fair Value Measurements	Fair Value Measurements. The Company follows the guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures ("Topic 820"), to determine the fair value of financial and non-financial instruments. Topic 820 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. Topic 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 - quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 - observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 - unobservable inputs, which are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as considering counterparty credit risk. The Company has formally elected to apply the portfolio exception within Topic 820 with respect to measuring counterparty risk for all of its derivative transactions subject to master netting arrangements. The Company estimates the fair value of its real estate assets, including non-consolidated real estate assets, by using income and market valuation techniques. The Company may estimate fair values using market information such as recent sale contracts (Level 2 inputs) or recent sale offers or discounted cash flow models, which primarily rely on Level 3 inputs. The cash flow models include estimated cash inflows and outflows over a specified holding period. These cash flows may include contractual rental revenues, projected future rental revenues and expenses and forecasted tenant improvements and lease commissions based upon market conditions determined through discussion with local real estate professionals, experience the Company has with its other owned properties in such markets and expectations for growth. Capitalization rates and discount rates utilized in these models are estimated by management based upon rates that management believes to be within a reasonable range of current market rates for the respective properties based upon an analysis of factors such as property and tenant quality, geographical location and local supply and demand observations. To the extent the Company under-estimates forecasted cash outflows (tenant improvements, lease commissions and operating costs) or over-estimates forecasted cash inflows (rental revenue rates), the estimated fair value of its real estate assets could be overstated.
Cost Capitalization	Cost Capitalization. We capitalize interest and direct and indirect project costs associated with the initial construction of a property up to the time the property is substantially complete and ready for its intended use. In addition, we capitalize operating costs, including real estate taxes, insurance and utilities, that have been allocated to vacant space based on the square footage of the portion of the building not held available for immediate occupancy during the extended lease-up periods after the construction of the building shell has been completed if costs are being incurred to ready the vacant space for its intended use. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once necessary work has been completed on a vacant space, project costs are no longer capitalized.
Properties Held For Sale	Properties Held For Sale. Assets and liabilities of properties that meet various held for sale criteria, including whether it is probable that a sale will occur within 12 months, are presented separately in the consolidated balance sheets. The operating results of these properties are reflected as discontinued operations in the consolidated statements of operations only if the sale of these assets represents a strategic shift in operations; if not, the operating results are included in continuing operations. Properties classified as held for sale are carried at the lower of net carrying value or estimated fair value less costs to sell and depreciation and amortization are no longer recognized. Properties that do not meet the held for sale criteria are accounted for as operating properties.
Deferred Expenses	Deferred Expenses. Deferred expenses consist primarily of revolving line of credit debt and leasing costs. Debt costs are amortized using the straight-line method, which approximates the interest method, over the terms of the debt instruments and leasing costs are amortized over the term of the related lease.
Derivative Financial Instruments	Derivative Financial Instruments . The Company accounts for its interest rate swap agreements in accordance with FASB ASC Topic 815, Derivatives and Hedging ("Topic 815"). In accordance with Topic 815, these agreements are carried on the balance sheet at their respective fair values, as an asset if fair value is positive, or as a liability if fair value is negative. If the interest rate swap is designated as a cash flow hedge, the portion of the interest rate swap's change in fair value is reported as a component of other comprehensive income (loss).
Stock Compensation	Stock Compensation. The Company maintains an equity participation plan. Non-vested share grants generally vest either based upon (1) time, (2) performance and/or (3) market conditions. All share-based payments to employees are recognized in the consolidated statements of operations based on their fair values.
Tax Status	Tax Status. The Company has made an election to qualify, and believes it is operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, the Company generally will not be subject to federal income tax, provided that distributions to its shareholders equal at least the amount of its REIT taxable income as defined under Sections 856 through 860 of the Code. The Company is permitted to participate in certain activities from which it was previously precluded in order to maintain its qualification as a REIT, so long as these activities are conducted in entities which elect to be treated as taxable REIT subsidiaries under the Code. As such, the Company is subject to federal and state income taxes on the income from these activities. Income taxes, primarily related to the Company's taxable REIT subsidiaries, are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.
Cash and Cash Equivalents	Cash and Cash Equivalents. The Company considers all highly liquid instruments with maturities of three months or less from the date of purchase to be cash equivalents.
Restricted Cash	Restricted Cash. Restricted cash is comprised primarily of cash balances held in escrow by lender and operating cash reserves held in escrow for one property.
Environmental Matters	Environmental Matters. Under various federal, state and local environmental laws, statutes, ordinances, rules and regulations, an owner of real property may be liable for the costs of removal or remediation of certain hazardous or toxic substances at, on, in or under such property as well as certain other potential costs relating to hazardous or toxic substances. These liabilities may include government fines, penalties and damages for injuries to persons and adjacent property. Such laws often impose liability without regard to whether the owner knew of, or was responsible for, the presence or disposal of such substances. Although most of the tenants of properties in which the Company has an interest are primarily responsible for any environmental damage and claims related to the leased premises, in the event of the bankruptcy or inability of the tenant of such premises to satisfy any obligations with respect to such environmental liability, or if the tenant is not responsible, the Company's property owner subsidiary may be required to satisfy any such obligations, should they exist. In addition, the property owner subsidiary, as the owner of such a property, may be held directly liable for any such damages or claims irrespective of the provisions of any lease.
Segment Reporting	Segment Reporting. The Company operates generally in one industry segment, single-tenant real estate assets.
Reclassification	Reclassifications. Certain amounts included in prior years' financial statements have been reclassified to conform to the current year's presentation.
New Accounting Standards Adopted in 2020 and Recently Issued Accounting Guidance	New Accounting Standards Adopted in 2020. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires that entities use a new forward-looking “expected loss” model that generally will result in the earlier recognition of an allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU No. 2016-13 was effective for fiscal years beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 on a prospective basis. The Company analyzed its accounts receivable using an aging methodology and determined that there have been no historical credit losses related to its outstanding accounts receivable. As a result, the Company's adoption of this guidance did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40). This ASU addresses customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract and also adds certain disclosure requirements related to implementation costs incurred for internal-use software and cloud computing arrangements. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The standard was effective for fiscal years beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 on a prospective basis. The Company's adoption of this guidance on January 1, 2020 did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements. This ASU includes additional disclosures requirements for recurring and nonrecurring Level 3 fair value measurements including disclosure of changes in unrealized gains and losses for the period included in other comprehensive income, disclosure of the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and a narrative description of measurement uncertainty related to Level 3 measurements. This standard was effective for fiscal years beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 on a prospective basis. The adoption of this guidance on January 1, 2020 did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Guidance . In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts that reference the London Interbank Offered Rate, or LIBOR, or another reference rate expected to be discontinued because of reference rate reform. The guidance in ASU 2020-04 is optional, applies for a limited period of time to ease the potential burden in accounting for (or recognizing the effect of) reference rate reform on financial reporting, in response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of LIBOR and may be elected over time as reference rate reform activities occur. As of March 31, 2020, the Company has elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Variable Interest Entities	Below is a summary of selected financial data of consolidated VIEs for which the Company is the primary beneficiary included in the consolidated balance sheets as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 Real estate, net $ 569,461 $ 592,372 Total assets $ 679,786 $ 645,623 Mortgages and notes payable, net $ 25,600 $ 82,978 Total liabilities $ 40,974 $ 101,901

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for each of the years in the three-year period ended December 31, 2020: 2020 2019 2018 BASIC Net income attributable to common shareholders $ 176,788 $ 273,225 $ 220,838 Weighted-average number of common shares outstanding 266,914,843 237,642,048 236,666,375 Net income attributable to common shareholders - per common share basic $ 0.66 $ 1.15 $ 0.93 DILUTED: Net income attributable to common shareholders - basic $ 176,788 $ 273,225 $ 220,838 Impact of assumed conversions — — 2,528 Net income attributable to common shareholders $ 176,788 $ 273,225 $ 223,366 Weighted-average common shares outstanding - basic 266,914,843 237,642,048 236,666,375 Effect of dilutive securities: Unvested share-based payment awards and options 1,267,709 292,467 528,495 Operating Partnership Units — — 3,616,120 Weighted-average common shares outstanding - diluted 268,182,552 237,934,515 240,810,990 Net income attributable to common shareholders - per common share diluted $ 0.66 $ 1.15 $ 0.93

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate Investments, Net [Abstract]
Schedule of Net Real Estate	The Company's real estate, net, consists of the following at December 31, 2020 and 2019: 2020 2019 Real estate, at cost: Buildings and building improvements $ 3,144,176 $ 2,962,982 Land, land estates and land improvements 367,272 355,697 Construction in progress 3,116 1,895 Real estate intangibles: In-place lease values 357,640 339,154 Tenant relationships 33,327 42,396 Above-market leases 18,326 28,206 Investments in real estate under construction 75,906 13,313 3,999,763 3,743,643 Accumulated depreciation and amortization (1) (884,465) (887,629) Real estate, net $ 3,115,298 $ 2,856,014 (1) Includes accumulated amortization of real estate intangible assets of $199,997 and $212,033 in 2020 and 2019, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $32,240 in 2021, $30,559 in 2022, $29,560 in 2023, $23,801 in 2024 and $19,802 in 2025. As of December 31, 2020, the details of the development arrangements outstanding are as follows (in $000's, except square feet): Project (% owned) Market Property Type Estimated Sq. Ft. Estimated Project Cost GAAP Investment Balance as of Amount Funded as of Estimated Completion Date % Leased as of Approximate Lease Term (Years) KeHE Distributors, BTS (100%) Phoenix, AZ Industrial 468,182 $ 72,000 $ 19,609 $ 17,766 3Q 2021 100 % 15 Fairburn JV (90%) (1) Atlanta, GA Industrial 910,000 53,812 39,824 33,195 1Q 2021 0 % TBD Rickenbacker (100%) Columbus, OH Industrial 320,190 20,300 16,473 12,225 2Q 2021 100 % 3 $ 146,112 $ 75,906 $ 63,186
Schedule of Acquired Properties	The Company completed the following acquisitions during 2020 and 2019: 2020: Property Type Market Acquisition Date Initial Lease Land Building and Improvements Lease in-place Value Intangible Industrial Chicago, IL January 2020 $ 53,642 11/2029 $ 3,681 $ 45,817 $ 4,144 Industrial Phoenix, AZ January 2020 19,164 12/2025 1,614 16,222 1,328 Industrial Chicago, IL January 2020 39,153 12/2029 1,788 34,301 3,064 Industrial Dallas, TX February 2020 83,495 08/2029 4,500 71,635 7,360 Industrial Savannah, GA April 2020 34,753 07/2027 1,689 30,346 2,718 Industrial Dallas, TX May 2020 10,731 06/2030 1,308 8,466 957 Industrial Savannah, GA June 2020 30,448 06/2025 2,560 25,697 2,191 Industrial Savannah, GA June 2020 9,130 08/2025 1,070 7,448 612 Industrial Houston, TX June 2020 20,949 04/2025 2,202 17,101 1,646 Industrial Ocala, FL June 2020 58,283 08/2030 4,113 49,904 4,266 Industrial DC/Baltimore, MD September 2020 29,143 11/2024 2,818 24,423 1,902 Industrial Savannah, GA September 2020 40,908 07/2026 3,775 34,322 2,811 Industrial Phoenix, AZ November 2020 87,820 03/2033 10,733 69,491 7,596 Industrial Dallas, TX December 2020 44,030 10/2024 3,938 37,185 2,907 Industrial Greenville/Spartanburg, SC December 2020 18,595 02/2031 1,186 15,814 1,595 Industrial Dallas, TX December 2020 31,556 01/2030 3,847 25,038 2,671 $ 611,800 $ 50,822 $ 513,210 $ 47,768 Weighted-average life of intangible assets (years) 8.7 2019: Real Estate Intangibles Property Type Location Acquisition Date Initial Lease Expiration Land Building and Improvements Lease in-place Value Intangible Below Market Lease Intangible Industrial Indianapolis, IN January 2019 $ 20,809 07/2025 $ 1,954 $ 16,820 $ 2,035 $ — Industrial Atlanta, GA February 2019 37,182 10/2023 3,253 30,951 2,978 — Industrial Dallas, TX April 2019 28,201 08/2023 2,420 23,330 2,451 — Industrial Greenville/Spartanburg, SC April 2019 33,253 01/2024 1,615 27,829 3,809 — Industrial Memphis, TN May 2019 49,395 04/2024 2,646 40,452 6,297 — Industrial Memphis, TN May 2019 18,316 05/2023 851 15,465 2,000 — Industrial Atlanta, GA June 2019 45,441 05/2020 3,251 40,023 2,167 — Industrial Atlanta, GA June 2019 27,353 05/2024 2,536 22,825 1,992 — Industrial Cincinnati, OH September 2019 13,762 12/2023 544 12,376 842 — Industrial Cincinnati, OH September 2019 100,288 06/2030 3,950 88,427 7,911 — Industrial Cincinnati, OH September 2019 65,763 08/2027 3,123 60,703 5,392 (3,455) Industrial Greenville/Spartanburg, SC October 2019 16,817 01/2024 1,406 14,272 1,139 — Industrial Greenville/Spartanburg, SC October 2019 15,583 04/2025 1,257 13,252 1,074 — Industrial Phoenix, AZ October 2019 21,020 09/2026 3,311 16,013 1,696 — Industrial Phoenix, AZ November 2019 67,079 09/2030 11,970 48,924 6,185 — Industrial Chicago, IL December 2019 49,348 09/2029 3,432 40,947 4,969 — Industrial Greenville/Spartanburg, SC December 2019 94,233 12/2034 6,959 78,364 8,910 — $ 703,843 $ 54,478 $ 590,973 $ 61,847 $ (3,455) Weighted-average life of intangible assets (years) 8.4 8.0

Dispositions and Impairment (Ta

Dispositions and Impairment (Tables)	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities of Held for Sale Properties	Assets and liabilities of the held for sale properties as of December 31, 2020 consisted of the following: December 31, 2020 Assets: Real estate, at cost $ 32,629 Real estate, intangible assets 7,941 Accumulated depreciation and amortization (24,312) Rent receivable - deferred 79 Other 193 $ 16,530 Liabilities: Other $ 790 $ 790

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurement Inputs	The following tables present the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2020 and 2019, aggregated by the level in the fair value hierarchy within which those measurements fall: Fair Value Measurements Using Description 2020 (Level 1) (Level 2) (Level 3) Interest rate swap liabilities $ (17,963) $ — $ (17,963) $ — Impaired real estate assets (1) $ 21,141 $ — $ 2,480 $ 18,661 (1) Represents non-recurring fair value measurement. The fair value is calculated as of the impairment date. $2,480 was based on an observable contract thus Level 2. The Company measured $18,661 of these fair values based on discounted cash flow analysis, using a hold period of ten years, a discount rate of 9.0% and residual capitalization rates ranging from 8.0% to 9.0%. As significant inputs to the models are unobservable, the Company determined that the value determined for these properties falls within Level 3 of the fair value reporting hierarchy. Fair Value Measurements Using Description 2019 (Level 1) (Level 2) (Level 3) Interest rate swap liabilities $ (1,928) $ — $ (1,928) $ — Impaired real estate assets (1) $ 4,846 $ — $ — $ 4,846 (1) Represents a non-recurring fair value measurement. The fair value is calculated as of the date of impairment.
Schedule of Carrying Amounts and Fair Value of Financial Instruments	The table below sets forth the carrying amounts and estimated fair values of the Company's financial instruments as of December 31, 2020 and 2019: As of December 31, 2020 As of December 31, 2019 Carrying Fair Value Carrying Fair Value Liabilities Debt $ 1,341,242 $ 1,368,151 $ 1,311,977 $ 1,276,589

Investments in Non-Consolidat_2

Investments in Non-Consolidated Entities Investments in Non-Consolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments in and Advances to Affiliates	Below is a schedule of the Company's investments in non-consolidated entities: Percentage Ownership at Investment Balance as of Investment December 31, 2020 December 31, 2020 December 31, 2019 NNN JV (1) 20% $ 31,615 $ 39,288 Etna Park 70 LLC (2) 90% 12,514 8,352 Etna Park 70 East LLC (3) 90% 7,484 4,310 BSH Lessee L.P. (4) 25% 4,851 5,218 $ 56,464 $ 57,168 (1) NNN JV is a joint venture formed in 2018 and owns office properties formerly owned by the Company. (2) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. The Company determined that it is not the primary beneficiary. (3) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. The Company determined that it is not the primary beneficiary.

Mortgages and Notes Payable (Ta

Mortgages and Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company had the following mortgages and notes payable outstanding as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 Mortgages and notes payable $ 138,412 $ 393,872 Unamortized debt issuance costs (1,883) (3,600) $ 136,529 $ 390,272
Schedule of Line of Credit Facilities	The maturity dates and interest rates as of December 31, 2020, are as follows: Maturity Date Interest Rate $600,000 Revolving Credit Facility (1) February 2023 LIBOR + 0.90% $300,000 Term Loan (2) January 2025 LIBOR + 1.00% (1) Maturity date of the revolving credit facility can be extended to February 2024 at the Company's option. The interest rate ranges from LIBOR plus 0.775% to 1.45%. At December 31, 2020, the Company had no borrowings outstanding and availability of $600,000, subject to covenant compliance. (2) The LIBOR portion of the interest rate was swapped to obtain a current fixed rate of 2.732% per annum. The aggregate unamortized debt issuance costs for the term loan was $2,057 and $2,561 as of December 31, 2020 and 2019, respectively.
Schedule of Maturities of Long-term Debt	Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows: Year ending Total 2021 $ 24,119 2022 12,224 2023 13,267 2024 6,431 2025 306,576 Thereafter 75,795 438,412 Unamortized debt issuance costs (3,940) $ 434,472 Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows: Year ending December 31, Total 2021 $ — 2022 — 2023 188,756 2024 198,932 2025 — Thereafter 529,120 916,808 Unamortized debt discounts (3,491) Unamortized debt issuance costs (6,547) $ 906,770

Senior Notes, Convertible Not_2

Senior Notes, Convertible Notes and Trust Preferred Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt Instrument Redemption	The Company had the following Senior Notes outstanding as of December 31, 2020 and 2019: Issue Date December 31, 2020 December 31, 2019 Interest Rate Maturity Date Issue Price August 2020 $ 400,000 $ — 2.70 % September 2030 99.233 % May 2014 198,932 250,000 4.40 % June 2024 99.883 % June 2013 188,756 250,000 4.25 % June 2023 99.026 % 787,688 500,000 Unamortized debt discount (3,491) (963) Unamortized debt issuance cost (4,922) (2,167) $ 779,275 $ 496,870
Schedule of Maturities of Long-term Debt	Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows: Year ending Total 2021 $ 24,119 2022 12,224 2023 13,267 2024 6,431 2025 306,576 Thereafter 75,795 438,412 Unamortized debt issuance costs (3,940) $ 434,472 Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows: Year ending December 31, Total 2021 $ — 2022 — 2023 188,756 2024 198,932 2025 — Thereafter 529,120 916,808 Unamortized debt discounts (3,491) Unamortized debt issuance costs (6,547) $ 906,770

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of December 31, 2020, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Interest Rate Derivative Number of Instruments Notional Interest Rate Swaps 4 $300,000
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2020 and 2019. As of December 31, 2020 As of December 31, 2019 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest Rate Swap Liability Other liabilities $ (17,963) Other liabilities $ (1,928)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The table below present the effect of the Company's derivative financial instruments on the consolidated statements of operations for 2020 and 2019: Derivatives in Cash Flow Amount of Loss Recognized Location of Amount of (Income) Loss Hedging Relationships 2020 2019 2020 2019 Interest Rate Swap $ (19,422) $ (1,625) Interest expense $ 3,387 $ (379)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Operating Lease, Lease Income	The following table presents the Company’s classification of rental revenue for its operating leases for the year ended December 31, 2020 and 2019: Classification December 31, 2020 December 31, 2019 Fixed $ 293,457 $ 291,892 Variable (1) 32,354 28,730 Total $ 325,811 $ 320,622 (1) Primarily comprised of tenant reimbursements.
Lessor, Operating Lease, Payments to be Received, Maturity	Future fixed rental receipts for leases, assuming no new or re-negotiated leases as of December 31, 2020 were as follows: Year ending December 31, Total 2021 $ 272,621 2022 261,498 2023 262,632 2024 230,083 2025 202,362 Thereafter 1,102,089 Total $ 2,331,285
Lease, Cost	Supplemental information related to operating leases as of December 31, 2020 and 2019 is as follows: The Year Ended December 31, 2020 December 31, 2019 Weighted-average remaining lease term Operating leases (years) 11.7 12.3 Weighted-average discount rate Operating leases 4.1 % 4.1 % The components of lease expense for the year ended December 31, 2020 and 2019 were as follows: Income Statement Classification Fixed Variable Total 2020: Property operating $ 3,969 $ 2 $ 3,971 General and administrative $ 1,348 105 1,453 Total $ 5,317 $ 107 $ 5,424 2019: Property operating $ 3,982 $ — $ 3,982 General and administrative 1,343 112 1,455 Total $ 5,325 $ 112 $ 5,437
Lessee, Operating Lease, Liability, Maturity	The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2020: Operating Leases 2021 $ 4,843 2022 4,854 2023 4,999 2024 5,021 2025 5,021 Thereafter 17,472 Total lease payments $ 42,210 Less: Imputed interest (9,695) Present value of lease liabilities $ 32,515

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Common Share Issuance	The following table summarizes common share issuances under the ATM program for the years ended December 31, 2020 and 2019, respectively: Year ended December 31, 2020 Shares Sold Net Proceeds 2020 ATM Issuances 5,950,882 $60,977 Year ended December 31, 2019 Shares Sold Net Proceeds 2019 ATM Issuances 9,668,748 $102,299
Accumulated Other Comprehensive Income Loss	A summary of the changes in accumulated other comprehensive income (loss) related to the Company's cash flow hedges is as follows: Twelve months ended December 31, 2020 2019 Balance at beginning of period $ (1,928) $ 76 Other comprehensive income (loss) before reclassifications (19,422) (1,625) Amounts of income reclassified from accumulated other comprehensive income (loss) to interest expense 3,387 (379) Balance at end of period $ (17,963) $ (1,928)
Effects of Changes in the Company's Ownership Interests in Noncontrolling Interests	The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests: Net Income Attributable to Shareholders and Transfers from Noncontrolling Interests 2020 2019 2018 Net income attributable to Lexington Realty Trust shareholders $ 183,302 $ 279,910 $ 227,415 Transfers (to) from noncontrolling interests: Decrease in additional paid-in-capital for reallocation of noncontrolling interests — (973) — Increase in additional paid-in-capital for redemption of noncontrolling OP units 1,614 1,655 189 Change from net income attributable to shareholders and transfers from noncontrolling interests $ 184,916 $ 280,592 $ 227,604

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	Share option activity during the years indicated is as follows: Number of Weighted-Average Balance at December 31, 2018 118,400 $ 7.44 Exercised (84,400) 7.24 Balance at December 31, 2019 34,000 7.95 Exercised (34,000) 7.95 Balance at December 31, 2020 — $ —
Schedule of Nonvested Share Activity	Non-vested share activity for the years ended December 31, 2020 and 2019, is as follows: Number of Weighted-Average Grant-Date Fair Balance at December 31, 2018 3,455,077 $ 7.34 Granted 829,581 5.97 Vested (151,447) 5.06 Forfeited (1,191,799) 6.76 Balance at December 31, 2019 2,941,412 7.30 Granted 709,250 7.77 Vested (613,504) 8.80 Forfeited (332,429) 5.30 Balance at December 31, 2020 2,704,729 $ 7.27
Schedule of Share-based Compensation, Activity	During 2020 and 2019, the Company granted common shares to certain employees and trustees as follows: 2020 2019 Performance Shares (1) Shares issued: Index 232,993 276,063 Peer 232,987 276,058 Grant date fair value per share: (2) Index $6.59 $5.05 Peer $5.97 $4.67 Non-Vested Common Shares: (3) Shares issued 243,270 277,460 Grant date fair value $2,581 $2,270 (1) The shares vest based on the Company's total shareholder return growth after a three (2) The fair value of grants was determined at the grant date using a Monte Carlo simulation model. three

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The Company's provision for income taxes for the years ended December 31, 2020, 2019 and 2018 is summarized as follows: 2020 2019 2018 Current: Federal $ (173) $ (70) $ (60) State and local (1,411) (1,309) (1,668) $ (1,584) $ (1,379) $ (1,728)
Statutory Accounting Practices Disclosure	The income tax provision differs from the amount computed by applying the statutory federal income tax rate to pre-tax operating income as follows: 2020 2019 2018 Federal provision at statutory tax rate (21%) $ (195) $ (73) $ (65) State and local taxes, net of federal benefit (77) (10) (11) Other (1,312) (1,296) (1,652) $ (1,584) $ (1,379) $ (1,728)
Summary of Average Taxable Nature of Dividends	A summary of the average taxable nature of the Company's common dividends for each of the years in the three-year period ended December 31, 2020, is as follows: 2020 2019 2018 Total dividends per share $ 0.420 $ 0.485 $ 0.710 Ordinary income 95.10 % 61.07 % 87.89 % Qualifying dividend 0.60 % 0.22 % 0.14 % Capital gain — — — Return of capital 4.30 % 38.71 % 11.97 % 100.00 % 100.00 % 100.00 % A summary of the average taxable nature of the Company's dividend on shares of its Series C Preferred for each of the years in the three-year period ended December 31, 2020, is as follows: 2020 2019 2018 Total dividends per share $ 3.25 $ 3.25 $ 3.25 Ordinary income 99.38 % 99.64 % 99.84 % Qualifying dividend 0.62 % 0.36 % 0.16 Capital gain — — — Return of capital — — — 100.00 % 100.00 % 100.00 %

Supplemental Disclosure of St_2

Supplemental Disclosure of Statement of Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	2020 2019 2018 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents at beginning of period $ 122,666 $ 168,750 $ 107,762 Restricted cash at beginning of period 6,644 8,497 4,394 Cash, cash equivalents and restricted cash at beginning of period $ 129,310 $ 177,247 $ 112,156 Cash and cash equivalents at end of period $ 178,795 $ 122,666 $ 168,750 Restricted cash at end of period 626 6,644 8,497 Cash, cash equivalents and restricted cash at end of period $ 179,421 $ 129,310 $ 177,247

Unaudited Quarterly Financial_2

Unaudited Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	3/31/2020 6/30/2020 9/30/2020 12/31/2020 Total gross revenues $ 80,827 $ 81,792 $ 84,514 $ 83,315 Net income $ 18,420 $ 19,131 $ 43,618 $ 105,222 Net income attributable to common shareholders $ 16,536 $ 17,254 $ 40,285 $ 102,712 Net income attributable to common shareholders - basic per share $ 0.07 $ 0.07 $ 0.15 $ 0.37 Net income attributable to common shareholders - diluted per share $ 0.06 $ 0.06 $ 0.15 $ 0.37 3/31/2019 6/30/2019 9/30/2019 12/31/2019 Total gross revenues $ 81,248 $ 80,135 $ 81,550 $ 83,036 Net income $ 28,280 $ 23,769 $ 147,821 $ 85,423 Net income attributable to common shareholders $ 26,405 $ 21,721 $ 141,560 $ 83,574 Net income attributable to common shareholders - basic per share $ 0.11 $ 0.09 $ 0.60 $ 0.34 Net income attributable to common shareholders - diluted per share $ 0.11 $ 0.09 $ 0.59 $ 0.33

- The Company (Details)

- The Company (Details)	Dec. 31, 2020stateproperty
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of consolidated properties | property	130
Number of states in which entity has interests | state	29

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020segment	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Number of operating segments | segment	1
Cumulative Effect, Period of Adoption, Adjustment
Property, Plant and Equipment [Line Items]
Rental revenue | $		$ 30,608
LCIF | Variable Interest Entity, Primary Beneficiary
Property, Plant and Equipment [Line Items]
VIE, ownership percentage	97.00%
Fairburn JV | Variable Interest Entity, Primary Beneficiary
Property, Plant and Equipment [Line Items]
VIE, ownership percentage	90.00%
Building and Building Improvements
Property, Plant and Equipment [Line Items]
Maximum useful life of PPE (in years)	40 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Variable Interest Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Real estate, net	$ 3,115,298	$ 2,856,014
Total assets	3,493,226	3,180,260
Mortgages and notes payable, net	136,529	390,272
Total liabilities	1,502,089	1,455,541
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Real estate, net	569,461	592,372
Total assets	679,786	645,623
Mortgages and notes payable, net	25,600	82,978
Total liabilities	$ 40,974	$ 101,901

- Earnings Per Share (Details)

- Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
BASIC
Net income attributable to common shareholders	$ 102,712	$ 40,285	$ 17,254	$ 16,536	$ 83,574	$ 141,560	$ 21,721	$ 26,405	$ 176,788	$ 273,225	$ 220,838
Weighted-average common shares outstanding - basic (in shares)									266,914,843	237,642,048	236,666,375
Net income attributable to common shareholders - basic (usd per share)	$ 0.37	$ 0.15	$ 0.07	$ 0.07	$ 0.34	$ 0.60	$ 0.09	$ 0.11	$ 0.66	$ 1.15	$ 0.93
DILUTED:
Impact of assumed conversions									$ 0	$ 0	$ 2,528
Net income attributable to common shareholders									$ 176,788	$ 273,225	$ 223,366
Weighted-average common shares outstanding - basic (in shares)									266,914,843	237,642,048	236,666,375
Effect of dilutive securities:
Unvested share-based payment awards and options (in shares)									1,267,709	292,467	528,495
Operating Partnership Units (in shares)									0	0	3,616,120
Weighted-average common shares outstanding (in shares)									268,182,552	237,934,515	240,810,990
Net income attributable to common shareholders - per common share diluted (usd per share)	$ 0.37	$ 0.15	$ 0.06	$ 0.06	$ 0.33	$ 0.59	$ 0.09	$ 0.11	$ 0.66	$ 1.15	$ 0.93

Investments in Real Estate - Sc

Investments in Real Estate - Schedule of Net Real Estate (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Line Items]
Buildings and building improvements	$ 3,144,176	$ 2,962,982
Land, land estates and land improvements	367,272	355,697
Construction in progress	3,116	1,895
Real estate - intangible assets	409,293	409,756
Investments in real estate under construction	75,906	13,313
Real estate, gross	3,999,763	3,743,643
Accumulated depreciation and amortization	(884,465)	(887,629)
Real estate, net	3,115,298	2,856,014
Accumulated amortization	199,997	212,033
Amortization expense, next 12 months	32,240
Amortization expense, year 2	30,559
Amortization expense, year 3	29,560
Amortization expense, year 4	23,801
Amortization expense, year 5	19,802
In-place lease values
Real Estate [Line Items]
Real estate - intangible assets	357,640	339,154
Tenant relationships
Real Estate [Line Items]
Real estate - intangible assets	33,327	42,396
Above-market leases
Real Estate [Line Items]
Real estate - intangible assets	$ 18,326	$ 28,206

Investments in Real Estate - Ad

Investments in Real Estate - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Abstract]
Below-market leases, net of accretion	$ 16,531	$ 19,090
Future accretion, year 1	2,201
Future accretion, year 2	1,931
Future accretion, year 3	1,931
Future accretion, year 4	1,931
Future accretion, year 5	1,865
Investments in real estate under construction	75,906	$ 13,313
Construction in progress, capitalized interest	$ 1,053

Investments in Real Estate - _2

Investments in Real Estate - Schedule of Acquired Properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Line Items]
Initial Cost Basis	$ 611,800	$ 703,843
Land	50,822	54,478
Building and Improvements	513,210	590,973
Lease in-place Value Intangible	$ 47,768	61,847
Below Market Lease Intangible		$ (3,455)
Lease in-place Value Intangible
Real Estate [Line Items]
Weighted-average life of intangible assets (years)	8 years 8 months 12 days	8 years 4 months 24 days
Below Market Lease Intangible
Real Estate [Line Items]
Weighted-average life of intangible assets (years)		8 years
Chicago, Illinois | Industrial Property | Chicago, IL Industrial Property Expiring Nov 2029
Real Estate [Line Items]
Initial Cost Basis	$ 53,642
Land	3,681
Building and Improvements	45,817
Lease in-place Value Intangible	4,144
Chicago, Illinois | Industrial Property | Chicago, IL Industrial Property Expiring Dec 2029
Real Estate [Line Items]
Initial Cost Basis	39,153
Land	1,788
Building and Improvements	34,301
Lease in-place Value Intangible	3,064
Chicago, Illinois | Industrial Property | Chicago, IL, Industrial Property, Expiring Sept 2029
Real Estate [Line Items]
Initial Cost Basis		$ 49,348
Land		3,432
Building and Improvements		40,947
Lease in-place Value Intangible		4,969
Below Market Lease Intangible		0
Phoenix, Arizona | Industrial Property | Phoenix, AZ, Industrial Property, Expiring Dec 2025
Real Estate [Line Items]
Initial Cost Basis	19,164
Land	1,614
Building and Improvements	16,222
Lease in-place Value Intangible	1,328
Phoenix, Arizona | Industrial Property | Phoenix, AZ Industrial Property Expiring Mar 2033
Real Estate [Line Items]
Initial Cost Basis	87,820
Land	10,733
Building and Improvements	69,491
Lease in-place Value Intangible	7,596
Phoenix, Arizona | Industrial Property | Phoenix, AZ, Industrial Property, Expiring Sept 2026
Real Estate [Line Items]
Initial Cost Basis		21,020
Land		3,311
Building and Improvements		16,013
Lease in-place Value Intangible		1,696
Below Market Lease Intangible		0
Phoenix, Arizona | Industrial Property | Phoenix, AZ, Industrial Property, Expiring Sept 2030
Real Estate [Line Items]
Initial Cost Basis		67,079
Land		11,970
Building and Improvements		48,924
Lease in-place Value Intangible		6,185
Below Market Lease Intangible		0
Dallas, Texas | Industrial Property | Dallas, TX Property Expiring Aug 2029
Real Estate [Line Items]
Initial Cost Basis	83,495
Land	4,500
Building and Improvements	71,635
Lease in-place Value Intangible	7,360
Dallas, Texas | Industrial Property | Dallas, TX, Industrial Property Expiring June 2030
Real Estate [Line Items]
Initial Cost Basis	10,731
Land	1,308
Building and Improvements	8,466
Lease in-place Value Intangible	957
Dallas, Texas | Industrial Property | Dallas, TX, Industrial Property, Expiring Oct 2024
Real Estate [Line Items]
Initial Cost Basis	44,030
Land	3,938
Building and Improvements	37,185
Lease in-place Value Intangible	2,907
Dallas, Texas | Industrial Property | Dallas, TX, Industrial Property Expiring Jan 2030
Real Estate [Line Items]
Initial Cost Basis	31,556
Land	3,847
Building and Improvements	25,038
Lease in-place Value Intangible	2,671
Dallas, Texas | Industrial Property | Dallas, TX Industrial Property Expiring Aug 2023
Real Estate [Line Items]
Initial Cost Basis		28,201
Land		2,420
Building and Improvements		23,330
Lease in-place Value Intangible		2,451
Below Market Lease Intangible		0
Savannah, Georgia | Industrial Property | Savannah, GA, Industrial Property Expiring July 2027
Real Estate [Line Items]
Initial Cost Basis	34,753
Land	1,689
Building and Improvements	30,346
Lease in-place Value Intangible	2,718
Savannah, Georgia | Industrial Property | Savannah, GA, Industrial Property Expiring June 2025
Real Estate [Line Items]
Initial Cost Basis	30,448
Land	2,560
Building and Improvements	25,697
Lease in-place Value Intangible	2,191
Savannah, Georgia | Industrial Property | Savannah, GA, Industrial Property, Expiring Aug 2025
Real Estate [Line Items]
Initial Cost Basis	9,130
Land	1,070
Building and Improvements	7,448
Lease in-place Value Intangible	612
Savannah, Georgia | Industrial Property | Savanna, GA, Industrial Property, Expiring July 2026
Real Estate [Line Items]
Initial Cost Basis	40,908
Land	3,775
Building and Improvements	34,322
Lease in-place Value Intangible	2,811
Houston, Texas | Industrial Property | Houston, Texas, Industrial Property, Expiring April 2025
Real Estate [Line Items]
Initial Cost Basis	20,949
Land	2,202
Building and Improvements	17,101
Lease in-place Value Intangible	1,646
Ocala, Florida | Industrial Property | Ocala, FL, Industrial Property, Expiring July 2030
Real Estate [Line Items]
Initial Cost Basis	58,283
Land	4,113
Building and Improvements	49,904
Lease in-place Value Intangible	4,266
DC/Baltimore, Maryland | Industrial Property | DC/Baltimore, MD, Industrial Property, Expiring Nov 2024
Real Estate [Line Items]
Initial Cost Basis	29,143
Land	2,818
Building and Improvements	24,423
Lease in-place Value Intangible	1,902
Greenville/Spartanburg, South Carolina | Industrial Property | Greenville/Spartanburg, SC, Industrial Property, Expiring Feb 2031
Real Estate [Line Items]
Initial Cost Basis	18,595
Land	1,186
Building and Improvements	15,814
Lease in-place Value Intangible	$ 1,595
Greenville/Spartanburg, South Carolina | Industrial Property | Greenville/Spartanburg, SC Property Expiring Jan 2024
Real Estate [Line Items]
Initial Cost Basis		33,253
Land		1,615
Building and Improvements		27,829
Lease in-place Value Intangible		3,809
Below Market Lease Intangible		0
Greenville/Spartanburg, South Carolina | Industrial Property | Greenville/Spartanburg, SC, Industrial Property, Expiring Jan 2024
Real Estate [Line Items]
Initial Cost Basis		16,817
Land		1,406
Building and Improvements		14,272
Lease in-place Value Intangible		1,139
Below Market Lease Intangible		0
Greenville/Spartanburg, South Carolina | Industrial Property | Greenville/Spartanburg, SC, Industrial Property, Expiring April 2025
Real Estate [Line Items]
Initial Cost Basis		15,583
Land		1,257
Building and Improvements		13,252
Lease in-place Value Intangible		1,074
Below Market Lease Intangible		0
Greenville/Spartanburg, South Carolina | Industrial Property | Greenville/Spartanburg, SC, Industrial Property, Expiring Dec 2034
Real Estate [Line Items]
Initial Cost Basis		94,233
Land		6,959
Building and Improvements		78,364
Lease in-place Value Intangible		8,910
Below Market Lease Intangible		0
Indianapolis, Indiana | Industrial Property | Indianapolis, Indiana, Industrial Property Expiring July 2025
Real Estate [Line Items]
Initial Cost Basis		20,809
Land		1,954
Building and Improvements		16,820
Lease in-place Value Intangible		2,035
Below Market Lease Intangible		0
Atlanta, Georgia | Industrial Property | Atlanta, Georgia, Industrial Property Expiring Oct 2023
Real Estate [Line Items]
Initial Cost Basis		37,182
Land		3,253
Building and Improvements		30,951
Lease in-place Value Intangible		2,978
Below Market Lease Intangible		0
Atlanta, Georgia | Industrial Property | Atlanta, GA Industrial Property Expiring May 2020
Real Estate [Line Items]
Initial Cost Basis		45,441
Land		3,251
Building and Improvements		40,023
Lease in-place Value Intangible		2,167
Below Market Lease Intangible		0
Atlanta, Georgia | Industrial Property | Atlanta, GA Industrial Property Expiring May 2024
Real Estate [Line Items]
Initial Cost Basis		27,353
Land		2,536
Building and Improvements		22,825
Lease in-place Value Intangible		1,992
Below Market Lease Intangible		0
Memphis, Tennessee | Industrial Property | Memphis, Tennessee Industrial Property Expiring April 2024
Real Estate [Line Items]
Initial Cost Basis		49,395
Land		2,646
Building and Improvements		40,452
Lease in-place Value Intangible		6,297
Below Market Lease Intangible		0
Memphis, Tennessee | Industrial Property | Memphis, Tennessee property Expiring May 2023
Real Estate [Line Items]
Initial Cost Basis		18,316
Land		851
Building and Improvements		15,465
Lease in-place Value Intangible		2,000
Below Market Lease Intangible		0
Cincinnati, Ohio | Industrial Property | Cincinnati, OH, Industrial Property, Expiring Dec 2023
Real Estate [Line Items]
Initial Cost Basis		13,762
Land		544
Building and Improvements		12,376
Lease in-place Value Intangible		842
Below Market Lease Intangible		0
Cincinnati, Ohio | Industrial Property | Cincinnati, OH, Industrial Property, Expiring June 2030
Real Estate [Line Items]
Initial Cost Basis		100,288
Land		3,950
Building and Improvements		88,427
Lease in-place Value Intangible		7,911
Below Market Lease Intangible		0
Cincinnati, Ohio | Industrial Property | Cincinnati, OH, Industrial Property, Expiring Aug 2027
Real Estate [Line Items]
Initial Cost Basis		65,763
Land		3,123
Building and Improvements		60,703
Lease in-place Value Intangible		5,392
Below Market Lease Intangible		$ (3,455)

Investments in Real Estate - _3

Investments in Real Estate - Schedule of Real Estate Properties Development (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)ft²	Dec. 31, 2019USD ($)
Real Estate [Line Items]
Estimated Project Cost	$ 3,514,564	$ 3,320,574
GAAP Investment Balance as of 12/31/2020	75,906	$ 13,313
Real Estate Investment
Real Estate [Line Items]
Estimated Project Cost	146,112
GAAP Investment Balance as of 12/31/2020	75,906
Amount Funded as of 12/31/2020	$ 63,186
Phoenix, Arizona
Real Estate [Line Items]
Project ownership percentage	100.00%
Phoenix, Arizona | Real Estate Investment
Real Estate [Line Items]
Estimated Sq. Ft. | ft²	468,182
Estimated Project Cost	$ 72,000
GAAP Investment Balance as of 12/31/2020	19,609
Amount Funded as of 12/31/2020	$ 17,766
% Leased as of 12/31/2020	100.00%
Approximate Lease Term (Years)	15 years
Atlanta, Georgia
Real Estate [Line Items]
Project ownership percentage	90.00%
Atlanta, Georgia | Real Estate Investment
Real Estate [Line Items]
Estimated Sq. Ft. | ft²	910,000
Estimated Project Cost	$ 53,812
GAAP Investment Balance as of 12/31/2020	39,824
Amount Funded as of 12/31/2020	$ 33,195
% Leased as of 12/31/2020	0.00%
Columbus, Ohio
Real Estate [Line Items]
Project ownership percentage	100.00%
Columbus, Ohio | Real Estate Investment
Real Estate [Line Items]
Estimated Sq. Ft. | ft²	320,190
Estimated Project Cost	$ 20,300
GAAP Investment Balance as of 12/31/2020	16,473
Amount Funded as of 12/31/2020	$ 12,225
% Leased as of 12/31/2020	100.00%
Approximate Lease Term (Years)	3 years

Dispositions and Impairment - A

Dispositions and Impairment - Additional Information (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2019USD ($)	Dec. 31, 2018property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)propertybuilding
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gain on sale of properties			$ 139,039	$ 250,889	$ 252,913
Number of real estate properties | property			130
Properties classified as held-for-sale (in number of properties) | property			2	0
Asset impairment charges			$ 14,460	$ 5,329	95,813
Number of impaired properties | property			4
Properties Conveyed to Lenders
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | property			3
Gain (loss) on debt extinguishment on sale of properties			$ 34,450
Disposal Group, Disposed of by Sale, not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property			432,843	504,118	898,514
Aggregate gain on sale of properties			139,039	250,889	252,913
Gain (loss) on debt extinguishment on sale of properties			$ 2,879	4,415	$ 1,698
Office Building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gain on sale of properties	$ 824
Number of properties sold | property		6
Asset impairment charges				2,974
Number of impaired properties | property					2
Impairment of assets held-for-use					$ 23,496
Retail Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Asset impairment charges				$ 2,106
Number of impaired properties | property				2
Properties Held at Fiscal Year End
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of assets held-for-use					$ 36,620
NNN Office Joint Venture Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gain on sale of properties				$ 3,529
NNN Office Joint Venture Properties | Transferred Property | Office Building | Disposal Group, Disposed of by Sale, not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | building					21

Dispositions and Impairment - S

Dispositions and Impairment - Schedule of Properties Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Real estate, at cost	$ 32,629
Real estate, intangible assets	7,941
Accumulated depreciation and amortization	(24,312)
Rent receivable - deferred	79
Other	193
Assets held for sale	16,530	$ 0
Other	790
Liabilities held for sale	$ 790	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Measurements Inputs (Details) $ in Thousands	Dec. 31, 2020USD ($)year	Dec. 31, 2019USD ($)
Expected Term
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property, fair value measurement input | year	10
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap liabilities	$ (17,963)	$ (1,928)
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	$ 21,141	4,846
Fair Value, Nonrecurring | Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property, fair value measurement input | year	0.090
Fair Value, Nonrecurring | Capitalization Rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property, fair value measurement input	0.080
Fair Value, Nonrecurring | Capitalization Rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property, fair value measurement input	0.090
Fair Value Measurements Using Level 1 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap liabilities	$ 0	0
Fair Value Measurements Using Level 1 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	0	0
Fair Value Measurements Using Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap liabilities	(17,963)	(1,928)
Fair Value Measurements Using Level 2 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	2,480	0
Fair Value Measurements Using Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap liabilities	0	0
Fair Value Measurements Using Level 3 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	$ 18,661	$ 4,846

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value, by Balance Sheet Grouping (Details) - Fair Value Measurements Using Level 3 - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Carrying Amount
Liabilities
Carrying Amount	$ 1,341,242	$ 1,311,977
Fair Value
Liabilities
Fair Value	$ 1,368,151	$ 1,276,589

Investments in Non-Consolidat_3

Investments in Non-Consolidated Entities - Schedule of Investments in and Non-consolidated Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 56,464	$ 57,168
NNN JV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	20.00%
Equity method investments	$ 31,615	39,288
Etna Park 70 LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	90.00%
Equity method investments	$ 12,514	8,352
Etna Park 70 East LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	90.00%
Equity method investments	$ 7,484	4,310
BSH Lessee L.P.
Schedule of Equity Method Investments [Line Items]
Ownership percentage	25.00%
Equity method investments	$ 4,851	$ 5,218

Investments in Non-Consolidat_4

Investments in Non-Consolidated Entities - Additional Information (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2019USD ($)	Dec. 31, 2018USD ($)property	Dec. 31, 2020USD ($)officeAsset	Dec. 31, 2019USD ($)officeAsset	Dec. 31, 2018USD ($)
Investments in and Advances to Affiliates [Line Items]
Aggregate gain on sale of properties			$ 139,039	$ 250,889	$ 252,913
Distribution of net proceeds			0	2,571	2,083
Lexington Reality Advisors Inc | Investment Advice
Investments in and Advances to Affiliates [Line Items]
Investment advisory fees			3,028	3,596	$ 1,443
Office Building
Investments in and Advances to Affiliates [Line Items]
Number of properties sold | property		6
Aggregate gain on sale of properties	$ 824
Proceeds from divestiture of interest in joint venture	$ 2,317	$ 4,312
Non-consolidated Real Estate Entity
Investments in and Advances to Affiliates [Line Items]
Co-venture equity ownership percentage	15.00%
NNN Office Joint Venture Properties
Investments in and Advances to Affiliates [Line Items]
Aggregate gain on sale of properties				3,529
NNN JV
Investments in and Advances to Affiliates [Line Items]
Proceeds from sale of property				45,208
Distribution of net proceeds			$ 1,701	$ 7,549
Co-venture equity ownership percentage			20.00%
NNN JV | NNN Office Joint Venture Properties
Investments in and Advances to Affiliates [Line Items]
Number of properties sold | officeAsset			2	4
Aggregate gain on sale of properties			$ 557
Proceeds from sale of property			8,504
NNN JV | Mortgages
Investments in and Advances to Affiliates [Line Items]
Extinguishment of debt			$ 40,800	$ 101,520

Mortgages and Notes Payable - S

Mortgages and Notes Payable - Schedule of Mortgages and Notes Payable (Details) - Mortgages and Notes Payable - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Mortgages and notes payable	$ 138,412	$ 393,872
Unamortized debt issuance costs	(1,883)	(3,600)
Long-term debt	$ 136,529	$ 390,272

Mortgages and Notes Payable - A

Mortgages and Notes Payable - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt satisfaction gains (charges), net	$ 21,452	$ (4,517)	$ (2,596)
Interest paid, capitalized	$ 1,745	$ 410	15
Mortgages and Notes Payable
Debt Instrument [Line Items]
Weighted-average interest rate	4.50%	4.50%
Debt satisfaction gains (charges), net		$ 9	$ 898
Minimum | Mortgages and Notes Payable
Debt Instrument [Line Items]
Interest Rate	3.50%
Effective interest percentage		3.50%
Maximum | Mortgages and Notes Payable
Debt Instrument [Line Items]
Interest Rate	6.30%
Effective interest percentage		6.50%

Mortgages and Notes Payable - C

Mortgages and Notes Payable - Credit Agreement Terms (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Unsecured Term Loan
Debt Instrument [Line Items]
Unamortized debt	$ 2,057,000	$ 2,561,000
Unsecured Revolving Credit Facility, Expiring February 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility borrowings	0
Line of credit remaining borrowing capacity	600,000,000
Unsecured Revolving Credit Facility, Expiring February 2023 | Unsecured Term Loan
Debt Instrument [Line Items]
Revolving credit facility borrowings	600,000,000
Unsecured Term Loan, Expiring January 2025 | Unsecured Term Loan
Debt Instrument [Line Items]
Face amount	$ 300,000,000
Interest Rate	2.732%
London Interbank Offered Rate (LIBOR) | Unsecured Revolving Credit Facility, Expiring February 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%
London Interbank Offered Rate (LIBOR) | Unsecured Revolving Credit Facility, Expiring February 2023 | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.775%
London Interbank Offered Rate (LIBOR) | Unsecured Revolving Credit Facility, Expiring February 2023 | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.45%
London Interbank Offered Rate (LIBOR) | Unsecured Term Loan, Expiring January 2025 | Unsecured Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%

Mortgages and Notes Payable - M

Mortgages and Notes Payable - Maturities of Long-term Debt (Details) - Mortgages, Notes Payable, Credit Facility Borrowings, and Term Loans $ in Thousands	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
2021	$ 24,119
2022	12,224
2023	13,267
2024	6,431
2025	306,576
Thereafter	75,795
Long-term debt, gross	438,412
Unamortized debt issuance costs	(3,940)
Long-term debt	$ 434,472

Senior Notes, Convertible Not_3

Senior Notes, Convertible Notes and Trust Preferred Securities - Schedule of Long-term Debt Instruments (Details) - Senior Notes - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal amount of debt component	$ 787,688,000	$ 500,000,000
Unamortized debt discounts	(3,491,000)	(963,000)
Unamortized debt issuance costs	(4,922,000)	(2,167,000)
Long-term debt	779,275,000	496,870,000
Senior Notes Due 2030
Debt Instrument [Line Items]
Principal amount of debt component	400,000,000	0
Unamortized debt discounts	$ (3,068,000)
Interest Rate	2.70%
Issue Price	99.233%
Senior Notes Due 2024
Debt Instrument [Line Items]
Principal amount of debt component	$ 198,932,000	250,000,000
Interest Rate	4.40%
Issue Price	99.883%
Senior Notes Due 2023
Debt Instrument [Line Items]
Principal amount of debt component	$ 188,756,000	$ 250,000,000
Interest Rate	4.25%
Issue Price	99.026%

Senior Notes, Convertible Not_4

Senior Notes, Convertible Notes and Trust Preferred Securities - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2007
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt satisfaction gains (charges), net		$ 21,452,000	$ (4,517,000)	$ (2,596,000)
Senior Notes Due 2023 and 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Prepayment of costs and fees	$ 9,531,000
Extinguishment of debt, accrued interest	1,024,000
Debt satisfaction gains (charges), net	10,119,000
Senior Notes Due 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Extinguishment of debt	61,244,000
Senior Notes Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Extinguishment of debt	$ 51,068,000
Senior Notes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount		787,688,000	500,000,000
Debt instrument, unamortized discount		3,491,000	963,000
Senior Notes | Senior Notes Due 2030
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount		$ 400,000,000	0
Interest Rate		2.70%
Issue price		99.233%
Debt instrument, unamortized discount		$ 3,068,000
Senior Notes | Senior Notes Due 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount		$ 188,756,000	250,000,000
Interest Rate		4.25%
Issue price		99.026%
Senior Notes | Senior Notes Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount		$ 198,932,000	250,000,000
Interest Rate		4.40%
Issue price		99.883%
6.804% Trust Preferred Securities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount					$ 200,000,000
Interest Rate		1.914%			6.804%
Principal amount outstanding on Trust Preferred Securities		$ 129,120,000	129,120,000
Debt issuance costs, gross		$ 1,625,000	$ 1,724,000
6.804% Trust Preferred Securities | London Interbank Offered Rate (LIBOR)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on variable rate					1.70%

Senior Notes, Convertible Not_5

Senior Notes, Convertible Notes and Trust Preferred Securities - Schedule of Maturities of Long-term Debt (Details) - Senior Notes, Convertible Notes, and Trust Preferred Securities $ in Thousands	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
2021	$ 0
2022	0
2023	188,756
2024	198,932
2025	0
Thereafter	529,120
Unamortized debt discounts	(3,491)
Unamortized debt issuance costs	$ (6,547)

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)financial_instrument	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jul. 31, 2019USD ($)instrument
Derivative [Line Items]
Amount reclassified as increase to interest expense	$ 4,848
Interest expense	55,201	$ 65,095	$ 79,880
Interest Rate Swap | Designated as Hedging Instrument | Other Liabilities
Derivative [Line Items]
Derivative liability	$ (17,963)	(1,928)
Cash Flow Hedging | Interest Rate Swap | Designated as Hedging Instrument
Derivative [Line Items]
Number of derivative instruments held	4			4
Derivative notional amount	$ 300,000			$ 300,000
Cash Flow Hedging | Interest Rate Swap | Designated as Hedging Instrument | Interest Expense
Derivative [Line Items]
Amount of gain (loss) recognized in OCI on derivative	(19,422)	(1,625)
Amount of (Income) Loss Reclassified from AOCI into Income	$ 3,387	$ (379)

Leases - Additional information

Leases - Additional information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 29, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Rent revenue reduced			$ 352
Non incremental costs incurred		$ 67	191
Operating lease, remaining lease term		42 years
Renewal term		52 years
Sublease income		$ 3,756	$ 3,764	$ 597
COVID-19 Pandemic
Lessee, Lease, Description [Line Items]
Deferred rent receivable, writeoff		1,383
Rent revenue reduced		$ 389
Columbus, Ohio
Lessee, Lease, Description [Line Items]
Deferred rent receivable, writeoff	$ 615
Minimum
Lessee, Lease, Description [Line Items]
Renewal term		5 years
Maximum
Lessee, Lease, Description [Line Items]
Renewal term		10 years

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Fixed	$ 293,457	$ 291,892
Variable	32,354	28,730
Total	$ 325,811	$ 320,622

Leases - Future Fixed Rental Re

Leases - Future Fixed Rental Receipts (Details) $ in Thousands	Dec. 31, 2020USD ($)
Leases [Abstract]
2021	$ 272,621
2022	261,498
2023	262,632
2024	230,083
2025	202,362
Thereafter	1,102,089
Total	$ 2,331,285

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term, operating leases (years)	11 years 8 months 12 days	12 years 3 months 18 days
Weighted-average discount rate, operating leases	4.10%	4.10%

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Fixed	$ 5,317	$ 5,325
Variable	107	112
Total	5,424	5,437
Property operating
Lessee, Lease, Description [Line Items]
Fixed	3,969	3,982
Variable	2	0
Total	3,971	3,982
General and administrative
Lessee, Lease, Description [Line Items]
Fixed	1,348	1,343
Variable	105	112
Total	$ 1,453	$ 1,455

Leases - Operating Lease Liabil

Leases - Operating Lease Liabilities Maturity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
2021	$ 4,843
2022	4,854
2023	4,999
2024	5,021
2025	5,021
Thereafter	17,472
Total lease payments	42,210
Less: Imputed interest	(9,695)
Operating lease liabilities	32,515	$ 39,442
Building
Lessee, Lease, Description [Line Items]
2021	1,325
2022	1,335
2023	1,304
2024	1,304
2025	1,304
Thereafter	326
Rent expense	$ 1,305	$ 1,312
Rent expense			$ 1,274

Equity - Schedule of Common Sha

Equity - Schedule of Common Share Issuance (Details) - At The Market Program - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Line Items]
Shares Sold (in shares)	5,950,882	9,668,748	0
Net Proceeds	$ 60,977	$ 102,299

Equity - Additional Information

Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Jul. 31, 2015shares
Equity [Line Items]
Proceeds from issuance of common shares | $	$ 222,390	$ 197,643	$ (2,818)
Shares issued, net of forfeitures (in shares)	756,380	896,807	965,932
Number of shares authorized to be repurchased (in shares)				10,000,000
Remaining authorized repurchase amount (in shares)	8,976,315
OP unit equivalent in common shares (in unit per share)	1.13
Shares issued for units redeemed (in shares)	327,453	391,993	53,388
Partners' capital account, exchanges and conversions | $	$ 1,614	$ 1,655	$ 189
OP units outstanding (in units)	2,538,000
Common Stock
Equity [Line Items]
Number of shares authorized to be repurchased (in shares)			10,000,000
Repurchase of common shares (in shares)	1,329,940	441,581	5,851,252
Average cost per share (in dollars per share) | $ / shares	$ 8.28	$ 8.13	$ 8.05
At The Market
Equity [Line Items]
Sale of stock, amount available for issuance | $	$ 177,212
At The Market | Forward Contracts
Equity [Line Items]
Common stock, number of shares to be settled on forward basis (in shares)	4,990,717	0	0
Common stock, shares to be settled on forward basis, aggregate value | $	$ 55,120
Underwritten Offering
Equity [Line Items]
Sale of stock, number of shares issued (in shares)	17,250,000	10,000,000
Sale of stock (in dollars per share) | $ / shares	$ 9.60	$ 10.09
Proceeds from issuance of common shares | $	$ 164,000	$ 100,749

Equity - Schedule of Changes in

Equity - Schedule of Changes in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Changes in Accumulated Other Comprehensive Income
Balance at beginning of period	$ 1,724,719	$ 1,346,678
Balance at end of period	1,991,137	1,724,719
Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income
Balance at beginning of period	(1,928)	76
Balance at end of period	(17,963)	(1,928)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Changes in Accumulated Other Comprehensive Income
Other comprehensive income (loss) before reclassifications	(19,422)	(1,625)
Amounts of income reclassified from accumulated other comprehensive income (loss) to interest expense	$ 3,387	$ (379)

Equity - Schedule of Effects of

Equity - Schedule of Effects of Changes in Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Net income (loss) attributable to common shareholders	$ 183,302	$ 279,910	$ 227,415
Decrease in additional paid-in-capital for reallocation of noncontrolling interests	0	(973)	0
Increase in additional paid-in-capital for redemption of noncontrolling OP units	1,614	1,655	189
Change from net income attributable to shareholders and transfers from noncontrolling interests	$ 184,916	$ 280,592	$ 227,604

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Details) $ / shares in Units, $ in Thousands	Dec. 31, 2010$ / sharesshares	Jan. 08, 2010$ / sharesshares	Dec. 31, 2008$ / sharesshares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Common share options granted (in shares)				0	0	0
Exercises in period, intrinsic value | $				$ 106	$ 271	$ 26
Shares held in employee trust (in shares)				130,863	130,863
Initial vesting percentage				25.00%
Vesting percentage				100.00%
Vesting period (in years)				4 years
Cost recognized | $				$ 393	$ 403	397
Allocated share-based compensation expense | $				$ 6,185	$ 5,831	$ 6,302
Options 2010
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Common share options granted (in shares)	1,248,501
Common share options exercise price (usd per share) | $ / shares	$ 7.95
Expiration period after termination (in months)	6 months
Recognized compensation expense average period (in years)				5 years
Options 2010 | Share-based Payment Arrangement, Tranche One
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage	20.00%
Options 2010 | Share-based Payment Arrangement, Tranche Two
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage	20.00%
Options 2010 | Share-based Payment Arrangement, Tranche Three
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage	20.00%
Options 2010 | Share-based Compensation Award, Tranche Four
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage	20.00%
Options 2010 | Share-based Compensation Award, Tranche Five
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage	20.00%
Options 2009
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Common share options granted (in shares)		1,265,500
Common share options exercise price (usd per share) | $ / shares		$ 6.39
Expiration period after termination (in months)		6 months
Recognized compensation expense average period (in years)				5 years
Options 2009 | Share-based Payment Arrangement, Tranche One
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage		20.00%
Options 2009 | Share-based Payment Arrangement, Tranche Two
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage		20.00%
Options 2009 | Share-based Payment Arrangement, Tranche Three
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage		20.00%
Options 2009 | Share-based Compensation Award, Tranche Four
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage		20.00%
Options 2009 | Share-based Compensation Award, Tranche Five
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage		20.00%
Options 2008
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Common share options granted (in shares)			2,000,000
Common share options exercise price (usd per share) | $ / shares			$ 5.60
Number of trading period days (in days)			20 days
Options convertible to common shares			1.13
Options converted to common shares exercise price (usd per share) | $ / shares			$ 4.97
Recognized compensation expense average period (in years)				3 years 7 months 6 days
Options 2008 | Minimum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Average closing price, lower limit (usd per share) | $ / shares			8
Options 2008 | Maximum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Average closing price, lower limit (usd per share) | $ / shares			$ 10
Options 2008 | Share Based Compensation Arrangement By Share Based Payment Award Vesting Rate First Vesting Trigger
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Award vesting rights, percentage			50.00%
Non-Management Award Grant
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares issued for services (in shares)				47,130	67,226	66,318
Shares issued for services, value | $				$ 500	$ 595	$ 599
Non-vested Shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares issued for services (in shares)				243,270	277,460
Shares issued for services, value | $				$ 2,581	$ 2,270
Non-options, nonvested, number (in shares)				2,704,729	2,941,412	3,455,077
Number of shares available for grant (in shares)				2,359,683
Compensation cost not yet recognized | $				$ 6,122
Total compensation cost not yet recognized, period for recognition (in years)				1 year 7 months 6 days
Shares Subject to Time
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Non-options, nonvested, number (in shares)				1,024,584
Shares Subject to Performance
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Non-options, nonvested, number (in shares)				1,680,145

Benefit Plans - Share Option Ac

Benefit Plans - Share Option Activity (Details) - Share Options - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of shares outstanding, beginning (in shares)	34,000	118,400
Number of shares exercised (in shares)	(34,000)	(84,400)
Number of shares outstanding, ending (in shares)	0	34,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Price per share outstanding, beginning (usd per share)	$ 7.95	$ 7.44
Price per share exercised (usd per share)	7.95	7.24
Price per share outstanding, ending (usd per share)	$ 0	$ 7.95

Benefit Plans - Non-Vested Shar

Benefit Plans - Non-Vested Share Activity (Details) - Non-vested Shares - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares outstanding, beginning (in shares)	2,941,412	3,455,077
Number of shares granted (in shares)	709,250	829,581
Number of shares vested (in shares)	(613,504)	(151,447)
Number of shares forfeited (in shares)	(332,429)	(1,191,799)
Number of shares outstanding, ending (in shares)	2,704,729	2,941,412
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Value per share outstanding, beginning (usd per share)	$ 7.30	$ 7.34
Value per share granted (usd per share)	7.77	5.97
Value per share vested (usd per share)	8.80	5.06
Value per share forfeited (usd per share)	5.30	6.76
Value per share outstanding, ending (usd per share)	$ 7.27	$ 7.30

Benefit Plans - Shares Granted

Benefit Plans - Shares Granted to Certain Employees and Trustees (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017	Dec. 31, 2016
Index Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued for services (in shares)	232,993	276,063
Value per share granted (usd per share)	$ 6.59	$ 5.05
Peer Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued for services (in shares)	232,987	276,058
Value per share granted (usd per share)	$ 5.97	$ 4.67
Non-vested Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued for services (in shares)	243,270	277,460
Value per share granted (usd per share)	$ 7.77	$ 5.97
Shares issued for services, value	$ 2,581	$ 2,270
Number of shares vested (in shares)	613,504	151,447
Number of shares granted (in shares)	709,250	829,581
Vesting period (in years)	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Measurement period (in years)	3 years
Number of shares vested (in shares)	122,779	713,044
Number of shares granted (in shares)			452,737	808,929

Income Taxes - Components of In

Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ (173)	$ (70)	$ (60)
State and local	(1,411)	(1,309)	(1,668)
Benefit (provision) for income taxes	$ (1,584)	$ (1,379)	$ (1,728)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
State and Local Jurisdiction
Income Taxes [Line Items]
State taxes paid	$ 1,314	$ 1,289	$ 1,679

Income Taxes - Statutory Federa

Income Taxes - Statutory Federal Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation at federal statutory income tax rate, amount	$ (195)	$ (73)	$ (65)
State and local taxes, net of federal benefit	(77)	(10)	(11)
Other	(1,312)	(1,296)	(1,652)
Benefit (provision) for income taxes	$ (1,584)	$ (1,379)	$ (1,728)
Effective income tax rate reconciliation, at federal statutory income tax rate (in percent)	21.00%	21.00%	21.00%

Income Taxes - Summary of Avera

Income Taxes - Summary of Average Taxable Nature of Dividends (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common Stock
Income Tax Contingency [Line Items]
Total dividends per share, common (usd per share)	$ 0.420	$ 0.485	$ 0.710
Taxable percentage allocation on dividends	100.00%	100.00%	100.00%
Common Stock | Ordinary income
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	95.10%	61.07%	87.89%
Common Stock | Qualifying dividend
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.60%	0.22%	0.14%
Common Stock | Capital gain
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.00%	0.00%	0.00%
Common Stock | Return of capital
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	4.30%	38.71%	11.97%
Series C
Income Tax Contingency [Line Items]
Total dividends per share, preferred (usd per share)	$ 3.25	$ 3.25	$ 3.25
Taxable percentage allocation on dividends	100.00%	100.00%	100.00%
Series C | Ordinary income
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	99.38%	99.64%	99.84%
Series C | Qualifying dividend
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.62%	0.36%	0.16%
Series C | Capital gain
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.00%	0.00%	0.00%
Series C | Return of capital
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.00%	0.00%	0.00%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2020USD ($)project
Commitments and Contingencies Disclosure [Abstract]
Number of development projects | project	5
Estimated construction costs | $	$ 75,985

Supplemental Disclosure of St_3

Supplemental Disclosure of Statement of Cash Flow Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Significant Noncash Transactions [Line Items]
Cash and cash equivalents	$ 178,795,000	$ 122,666,000	$ 168,750,000	$ 107,762,000
Restricted cash	626,000	6,644,000	8,497,000	4,394,000
Cash, cash equivalents, and restricted cash	179,421,000	129,310,000	177,247,000	$ 112,156,000
Interest paid	52,059,000	59,018,000	76,562,000
Income taxes paid, net	1,748,000	1,482,000	$ 2,025,000
Non-Recourse Mortgage
Other Significant Noncash Transactions [Line Items]
Face amount	178,662,000	110,000,000
Mortgage debt incurred upon the acquisition of property		$ 41,877,000
South Carolina, Kansas and Florida
Other Significant Noncash Transactions [Line Items]
Transfer mortgage payable	57,356,000
Real estate, net	28,078,000
Owensboro Kentucky and Orlando Florida
Other Significant Noncash Transactions [Line Items]
Lease obligation incurred	719,000
Right-of-use asset obtained	$ 719,000

Unaudited Quarterly Financial_3

Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Total gross revenues	$ 83,315	$ 84,514	$ 81,792	$ 80,827	$ 83,036	$ 81,550	$ 80,135	$ 81,248	$ 330,448	$ 325,969	$ 396,971
Net income	105,222	43,618	19,131	18,420	85,423	147,821	23,769	28,280	186,391	285,293	230,906
Net income attributable to common shareholders	$ 102,712	$ 40,285	$ 17,254	$ 16,536	$ 83,574	$ 141,560	$ 21,721	$ 26,405	$ 176,788	$ 273,225	$ 220,838
Net income attributable to common shareholders - basic (usd per share)	$ 0.37	$ 0.15	$ 0.07	$ 0.07	$ 0.34	$ 0.60	$ 0.09	$ 0.11	$ 0.66	$ 1.15	$ 0.93
Net income attributable to common shareholders - per common share diluted (usd per share)	$ 0.37	$ 0.15	$ 0.06	$ 0.06	$ 0.33	$ 0.59	$ 0.09	$ 0.11	$ 0.66	$ 1.15	$ 0.93

Subsequent Events Narrative (De

Subsequent Events Narrative (Details) $ in Thousands	2 Months Ended	12 Months Ended
	Feb. 18, 2021USD ($)property	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Subsequent Event [Line Items]
Payments to acquire real estate		$ 611,754	$ 662,010	$ 315,959
Subsequent Event | Industrial Property
Subsequent Event [Line Items]
Number of real estate properties acquired | property	3
Payments to acquire real estate	$ 50,800
Subsequent Event | Office Building
Subsequent Event [Line Items]
Number of properties disposed | property	2
Proceeds from sale of productive assets	$ 20,200

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation and Amortization - Schedule III (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate and Accumulated Depreciation [Line Items]
Land and Land Estates	$ 367,272
Buildings and Improvements	3,144,176
Total	3,514,564	$ 3,320,574	$ 3,090,134	$ 3,936,459
Accumulated Depreciation and Amortization	684,468	$ 675,596	$ 722,644	$ 890,969
Deferred loan costs, net	(1,883)
Encumbrances, net of deferred loan costs	$ 136,529
Building and improvements | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Useful life computing depreciation in latest income statement (years)	40 years
Land estates | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Useful life computing depreciation in latest income statement (years)	51 years
Industrial Property | Anniston, Alabama
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land and Land Estates	1,201
Buildings and Improvements	16,771
Total	17,972
Accumulated Depreciation and Amortization	4,738
Industrial Property | Opelika, Alabama
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	142
Buildings and Improvements	31,734
Total	31,876
Accumulated Depreciation and Amortization	4,608
Industrial Property | Chandler, Arizona
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	10,733
Buildings and Improvements	69,491
Total	80,224
Accumulated Depreciation and Amortization	538
Industrial Property | Goodyear, Arizona | Goodyear, AZ Industrial Acquired Nov-18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,247
Buildings and Improvements	36,115
Total	41,362
Accumulated Depreciation and Amortization	3,438
Industrial Property | Goodyear, Arizona | Goodyear, AZ Industrial Acquired Nov-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	41,877
Land and Land Estates	11,970
Buildings and Improvements	48,925
Total	60,895
Accumulated Depreciation and Amortization	2,384
Industrial Property | Goodyear, Arizona | Goodyear, AZ Industrial Acquired Jan-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,614
Buildings and Improvements	16,222
Total	17,836
Accumulated Depreciation and Amortization	658
Industrial Property | Tolleson, Arizona
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,311
Buildings and Improvements	16,013
Total	19,324
Accumulated Depreciation and Amortization	883
Industrial Property | Ocala, Florida
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,113
Buildings and Improvements	49,936
Total	54,049
Accumulated Depreciation and Amortization	1,093
Industrial Property | Orlando, Florida
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,030
Buildings and Improvements	10,869
Total	11,899
Accumulated Depreciation and Amortization	4,290
Industrial Property | Tampa, Florida
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,160
Buildings and Improvements	9,125
Total	11,285
Accumulated Depreciation and Amortization	7,342
Industrial Property | Austell, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,251
Buildings and Improvements	48,459
Total	51,710
Accumulated Depreciation and Amortization	3,238
Industrial Property | McDonough, Georgia | McDonough, GA Industrial Acquired Aug-17
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,441
Buildings and Improvements	52,790
Total	58,231
Accumulated Depreciation and Amortization	7,485
Industrial Property | McDonough, Georgia | McDonough, GA Industrial Acquired Feb-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,253
Buildings and Improvements	30,956
Total	34,209
Accumulated Depreciation and Amortization	2,587
Industrial Property | McDonough, Georgia | McDonough, GA Industrial Acquired Dec-06
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,463
Buildings and Improvements	24,811
Total	27,274
Accumulated Depreciation and Amortization	9,085
Industrial Property | Pooler, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,690
Buildings and Improvements	30,346
Total	32,036
Accumulated Depreciation and Amortization	999
Industrial Property | Savannah, Georgia | Savannah, GA, Industrial Property Acquired Jun-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,560
Buildings and Improvements	25,717
Total	28,277
Accumulated Depreciation and Amortization	645
Industrial Property | Savannah, Georgia | Savannah, GA, Industrial Property Acquired Jun-20, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,070
Buildings and Improvements	7,458
Total	8,528
Accumulated Depreciation and Amortization	187
Industrial Property | Savannah, Georgia | Savannah, GA, Industrial Property Acquired Sept-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,775
Buildings and Improvements	34,325
Total	38,100
Accumulated Depreciation and Amortization	379
Industrial Property | Union City, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,536
Buildings and Improvements	22,830
Total	25,366
Accumulated Depreciation and Amortization	1,512
Industrial Property | Edwardsville, Illinois | Edwardsville, IL Industrial Acquired Dec-16
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,593
Buildings and Improvements	34,362
Total	38,955
Accumulated Depreciation and Amortization	5,697
Industrial Property | Edwardsville, Illinois | Edwardsville, IL Industrial Acquired Jun- 18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,649
Buildings and Improvements	41,310
Total	44,959
Accumulated Depreciation and Amortization	4,660
Industrial Property | Minooka, Illinois | Minooka, Illinois, Industrial Property Acquired Jan-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,788
Buildings and Improvements	34,301
Total	36,089
Accumulated Depreciation and Amortization	1,314
Industrial Property | Minooka, Illinois | Minooka, Illinois, Industrial Property Acquired Dec-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,432
Buildings and Improvements	40,949
Total	44,381
Accumulated Depreciation and Amortization	1,775
Industrial Property | Minooka, Illinois | Minooka, Illinois, Industrial Property Acquired Jan-20, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,681
Buildings and Improvements	45,817
Total	49,498
Accumulated Depreciation and Amortization	1,936
Industrial Property | Rantoul, Illinois
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,304
Buildings and Improvements	32,562
Total	33,866
Accumulated Depreciation and Amortization	6,263
Industrial Property | Rockford, Illinois | Rockford, IL Industrial Acquired Dec-06
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	371
Buildings and Improvements	2,647
Total	3,018
Accumulated Depreciation and Amortization	1,021
Industrial Property | Rockford, Illinois | Rockford, IL Industrial Acquired Dec-06, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	509
Buildings and Improvements	5,921
Total	6,430
Accumulated Depreciation and Amortization	2,077
Industrial Property | Romeoville, Illinois
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	7,524
Buildings and Improvements	40,167
Total	47,691
Accumulated Depreciation and Amortization	6,778
Industrial Property | Lafayette, Indiana
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	662
Buildings and Improvements	15,578
Total	16,240
Accumulated Depreciation and Amortization	2,600
Industrial Property | Lebanon, Indiana
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,100
Buildings and Improvements	29,907
Total	32,007
Accumulated Depreciation and Amortization	4,747
Industrial Property | Whitestown, Indiana
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,954
Buildings and Improvements	16,821
Total	18,775
Accumulated Depreciation and Amortization	1,437
Industrial Property | New Century, Kansas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	0
Buildings and Improvements	13,330
Total	13,330
Accumulated Depreciation and Amortization	2,286
Industrial Property | Dry Ridge, Kentucky
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	568
Buildings and Improvements	12,553
Total	13,121
Accumulated Depreciation and Amortization	6,761
Industrial Property | Elizabethtown, Kentucky | Elizabethtown, KY Industrial Acquired Jun-05
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	890
Buildings and Improvements	26,868
Total	27,758
Accumulated Depreciation and Amortization	14,472
Industrial Property | Elizabethtown, Kentucky | Elizabethtown, KY Industrial Acquired Jun-05, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	352
Buildings and Improvements	4,862
Total	5,214
Accumulated Depreciation and Amortization	2,619
Industrial Property | Hopkinsville, Kentucky
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	631
Buildings and Improvements	16,154
Total	16,785
Accumulated Depreciation and Amortization	9,283
Industrial Property | Owensboro, Kentucky | Owensboro, KY Industrial Acquired Jun-05
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	393
Buildings and Improvements	11,956
Total	12,349
Accumulated Depreciation and Amortization	7,468
Industrial Property | Owensboro, Kentucky | Owensboro, KY Industrial Acquired Dec-06
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	819
Buildings and Improvements	2,439
Total	3,258
Accumulated Depreciation and Amortization	1,247
Industrial Property | Shreveport, Louisiana | Shreveport, LA Industrial Acquired Jun-12
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,078
Buildings and Improvements	10,134
Total	11,212
Accumulated Depreciation and Amortization	3,121
Industrial Property | Shreveport, Louisiana | Shreveport, LA Industrial Acquired Mar-07
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	860
Buildings and Improvements	21,840
Total	22,700
Accumulated Depreciation and Amortization	7,531
Industrial Property | North Berwick, Maine
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,383
Buildings and Improvements	35,659
Total	37,042
Accumulated Depreciation and Amortization	12,526
Industrial Property | Detroit, Michigan
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,133
Buildings and Improvements	25,009
Total	26,142
Accumulated Depreciation and Amortization	6,504
Industrial Property | Kalamazoo, Michigan
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	958
Buildings and Improvements	4,725
Total	5,683
Accumulated Depreciation and Amortization	80
Industrial Property | Marshall, Michigan
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	143
Buildings and Improvements	4,302
Total	4,445
Accumulated Depreciation and Amortization	3,658
Industrial Property | Plymouth, Michigan
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,296
Buildings and Improvements	15,772
Total	18,068
Accumulated Depreciation and Amortization	7,325
Industrial Property | Romulus, Michigan
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,438
Buildings and Improvements	33,786
Total	36,224
Accumulated Depreciation and Amortization	5,615
Industrial Property | Warren, Michigan
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	25,850
Land and Land Estates	972
Buildings and Improvements	42,521
Total	43,493
Accumulated Depreciation and Amortization	5,628
Industrial Property | Minneapolis, Minnesota
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,886
Buildings and Improvements	1,922
Total	3,808
Accumulated Depreciation and Amortization	499
Industrial Property | Byhalia, Mississippi | Byhalia, MS Industrial Property Acquired May-11
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,006
Buildings and Improvements	35,795
Total	36,801
Accumulated Depreciation and Amortization	8,460
Industrial Property | Byhalia, Mississippi | Byhalia, MS Industrial Property Acquired Sep-17
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,751
Buildings and Improvements	31,236
Total	32,987
Accumulated Depreciation and Amortization	5,913
Industrial Property | Canton, Mississippi
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,077
Buildings and Improvements	71,289
Total	76,366
Accumulated Depreciation and Amortization	19,856
Industrial Property | Olive Branch, Mississippi | Olive Branch, MS Industrial Acquired Apr- 18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,500
Buildings and Improvements	42,556
Total	45,056
Accumulated Depreciation and Amortization	5,393
Industrial Property | Olive Branch, Mississippi | Olive Branch, MS Industrial Acquired Apr- 18, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,958
Buildings and Improvements	38,702
Total	40,660
Accumulated Depreciation and Amortization	4,920
Industrial Property | Olive Branch, Mississippi | Olive Branch, MS Industrial Acquired May-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,646
Buildings and Improvements	40,446
Total	43,092
Accumulated Depreciation and Amortization	2,756
Industrial Property | Olive Branch, Mississippi | Olive Branch, MS Industrial Acquired May-19, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	851
Buildings and Improvements	15,464
Total	16,315
Accumulated Depreciation and Amortization	1,041
Industrial Property | Henderson, North Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,488
Buildings and Improvements	7,185
Total	8,673
Accumulated Depreciation and Amortization	2,846
Industrial Property | Lumberton, North Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	405
Buildings and Improvements	12,049
Total	12,454
Accumulated Depreciation and Amortization	5,426
Industrial Property | Shelby, North Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,421
Buildings and Improvements	18,862
Total	20,283
Accumulated Depreciation and Amortization	6,713
Industrial Property | Durham, New Hampshire
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,426
Buildings and Improvements	6,982
Total	9,408
Accumulated Depreciation and Amortization	0
Industrial Property | North Las Vegas, Nevada
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,244
Buildings and Improvements	21,732
Total	24,976
Accumulated Depreciation and Amortization	4,214
Industrial Property | Erwin, New York
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,648
Buildings and Improvements	12,514
Total	14,162
Accumulated Depreciation and Amortization	4,021
Industrial Property | Long Island City, New York
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	32,779
Land and Land Estates	0
Buildings and Improvements	42,759
Total	42,759
Accumulated Depreciation and Amortization	22,280
Industrial Property | Cincinnati, Ohio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,049
Buildings and Improvements	8,784
Total	9,833
Accumulated Depreciation and Amortization	3,655
Industrial Property | Columbus, Ohio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,990
Buildings and Improvements	12,451
Total	14,441
Accumulated Depreciation and Amortization	4,904
Industrial Property | Glenwillow, Ohio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,228
Buildings and Improvements	24,530
Total	26,758
Accumulated Depreciation and Amortization	8,971
Industrial Property | Hebron, Ohio | Hebron, OH Industrial, Acquired Dec-97
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,063
Buildings and Improvements	4,947
Total	6,010
Accumulated Depreciation and Amortization	2,383
Industrial Property | Hebron, Ohio | Hebron, OH Industrial, Acquired Dec-01
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,681
Buildings and Improvements	8,179
Total	9,860
Accumulated Depreciation and Amortization	4,119
Industrial Property | Monroe, Ohio | Monroe, OH Industrial Acquired Sep-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	544
Buildings and Improvements	12,370
Total	12,914
Accumulated Depreciation and Amortization	706
Industrial Property | Monroe, Ohio | Monroe, OH Industrial Acquired Sep-19, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,123
Buildings and Improvements	60,702
Total	63,825
Accumulated Depreciation and Amortization	3,612
Industrial Property | Monroe, Ohio | Monroe, OH Industrial Acquired Sep-19, Property 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,950
Buildings and Improvements	88,422
Total	92,372
Accumulated Depreciation and Amortization	5,067
Industrial Property | Streetsboro, Ohio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,441
Buildings and Improvements	25,282
Total	27,723
Accumulated Depreciation and Amortization	11,198
Industrial Property | Wilsonville, Oregon
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,815
Buildings and Improvements	32,424
Total	39,239
Accumulated Depreciation and Amortization	6,025
Industrial Property | Bristol, Pennsylvania
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,508
Buildings and Improvements	15,863
Total	18,371
Accumulated Depreciation and Amortization	8,802
Industrial Property | Chester, South Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,913
Land and Land Estates	1,629
Buildings and Improvements	8,470
Total	10,099
Accumulated Depreciation and Amortization	2,578
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Oct-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,406
Buildings and Improvements	14,272
Total	15,678
Accumulated Depreciation and Amortization	775
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Oct-19, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,257
Buildings and Improvements	13,252
Total	14,509
Accumulated Depreciation and Amortization	722
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Apr-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,615
Buildings and Improvements	27,830
Total	29,445
Accumulated Depreciation and Amortization	2,052
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Jun-07
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	884
Buildings and Improvements	8,755
Total	9,639
Accumulated Depreciation and Amortization	3,042
Industrial Property | Greer, South Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,959
Buildings and Improvements	78,405
Total	85,364
Accumulated Depreciation and Amortization	3,331
Industrial Property | Laurens, South Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,552
Buildings and Improvements	21,908
Total	27,460
Accumulated Depreciation and Amortization	9,002
Industrial Property | Spartanburg, South Carolina | Spartanburg, SC Industrial Acquired Aug-18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,447
Buildings and Improvements	23,758
Total	25,205
Accumulated Depreciation and Amortization	2,987
Industrial Property | Spartanburg, South Carolina | Spartanburg, SC Industrial Acquired Dec-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,186
Buildings and Improvements	15,814
Total	17,000
Accumulated Depreciation and Amortization	0
Industrial Property | Cleveland, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,871
Buildings and Improvements	29,743
Total	31,614
Accumulated Depreciation and Amortization	4,759
Industrial Property | Crossville, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	545
Buildings and Improvements	6,999
Total	7,544
Accumulated Depreciation and Amortization	5,277
Industrial Property | Franklin, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	0
Buildings and Improvements	5,673
Total	5,673
Accumulated Depreciation and Amortization	3,980
Industrial Property | Jackson, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,454
Buildings and Improvements	49,031
Total	50,485
Accumulated Depreciation and Amortization	6,823
Industrial Property | Lewisburg, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	173
Buildings and Improvements	10,865
Total	11,038
Accumulated Depreciation and Amortization	2,262
Industrial Property | Millington, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	723
Buildings and Improvements	19,383
Total	20,106
Accumulated Depreciation and Amortization	14,810
Industrial Property | Smyrna, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,793
Buildings and Improvements	93,940
Total	95,733
Accumulated Depreciation and Amortization	13,400
Industrial Property | Arlington, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	589
Buildings and Improvements	7,739
Total	8,328
Accumulated Depreciation and Amortization	2,193
Industrial Property | Brookshire, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,388
Buildings and Improvements	16,614
Total	19,002
Accumulated Depreciation and Amortization	4,401
Industrial Property | Carrollton, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,228
Buildings and Improvements	15,784
Total	19,012
Accumulated Depreciation and Amortization	2,309
Industrial Property | Dallas, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,420
Buildings and Improvements	23,330
Total	25,750
Accumulated Depreciation and Amortization	1,642
Industrial Property | Grand Prairie, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,166
Buildings and Improvements	17,985
Total	21,151
Accumulated Depreciation and Amortization	2,730
Industrial Property | Houston, Texas | Houston, TX Industrial Acquired Mar-15
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,674
Buildings and Improvements	19,540
Total	24,214
Accumulated Depreciation and Amortization	11,599
Industrial Property | Houston, Texas | Houston, TX Industrial Acquired Mar-13
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	15,055
Buildings and Improvements	57,949
Total	73,004
Accumulated Depreciation and Amortization	13,979
Industrial Property | Hutchins, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,307
Buildings and Improvements	8,466
Total	9,773
Accumulated Depreciation and Amortization	220
Industrial Property | Lancaster, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,847
Buildings and Improvements	25,038
Total	28,885
Accumulated Depreciation and Amortization	0
Industrial Property | Missouri City, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	14,555
Buildings and Improvements	5,895
Total	20,450
Accumulated Depreciation and Amortization	5,895
Industrial Property | Northlake, Texas | Northlake, TX Industrial Acquired Feb-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,500
Buildings and Improvements	71,636
Total	76,136
Accumulated Depreciation and Amortization	2,552
Industrial Property | Northlake, Texas | Northlake, TX Industrial Acquired Dec-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,938
Buildings and Improvements	37,185
Total	41,123
Accumulated Depreciation and Amortization	139
Industrial Property | Pasadena, Texas | Pasadena, TX Industrial Acquired Jun-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,202
Buildings and Improvements	17,096
Total	19,298
Accumulated Depreciation and Amortization	368
Industrial Property | Pasadena, Texas | Pasadena, TX Industrial Acquired Aug-18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,057
Buildings and Improvements	17,810
Total	21,867
Accumulated Depreciation and Amortization	1,899
Industrial Property | San Antonio, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,311
Buildings and Improvements	36,644
Total	37,955
Accumulated Depreciation and Amortization	5,517
Industrial Property | Chester, Virginia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	8,544
Buildings and Improvements	53,067
Total	61,611
Accumulated Depreciation and Amortization	5,488
Industrial Property | Winchester, Virginia | Winchester, VA Industrial Acquired Dec-17
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,988
Buildings and Improvements	32,536
Total	34,524
Accumulated Depreciation and Amortization	4,176
Industrial Property | Winchester, Virginia | Winchester, VA Industrial Acquired Jun-07
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,823
Buildings and Improvements	12,276
Total	16,099
Accumulated Depreciation and Amortization	4,918
Industrial Property | Winchester, Virginia | Winchester, VA Industrial Acquired Sept-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,818
Buildings and Improvements	24,423
Total	27,241
Accumulated Depreciation and Amortization	357
Industrial Property | Bingen, Washington
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	0
Buildings and Improvements	18,075
Total	18,075
Accumulated Depreciation and Amortization	6,132
Industrial properties, Multi-tenant/vacant properties | Statesville, North Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	891
Buildings and Improvements	16,771
Total	17,662
Accumulated Depreciation and Amortization	6,545
Industrial properties, Multi-tenant/vacant properties | Chillicothe, Ohio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	735
Buildings and Improvements	10,939
Total	11,674
Accumulated Depreciation and Amortization	3,911
Industrial properties, Multi-tenant/vacant properties | Antioch, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,847
Buildings and Improvements	12,659
Total	16,506
Accumulated Depreciation and Amortization	4,575
Office Building | McDonough, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	693
Buildings and Improvements	6,405
Total	7,098
Accumulated Depreciation and Amortization	1,942
Office Building | Arlington, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,274
Buildings and Improvements	15,777
Total	17,051
Accumulated Depreciation and Amortization	4,536
Office Building | Tucson, Arizona
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	681
Buildings and Improvements	4,037
Total	4,718
Accumulated Depreciation and Amortization	1,427
Office Building | Palo Alto, California
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	20,176
Land and Land Estates	12,398
Buildings and Improvements	16,977
Total	29,375
Accumulated Depreciation and Amortization	25,642
Office Building | Wall, New Jersey
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,867
Land and Land Estates	8,985
Buildings and Improvements	26,961
Total	35,946
Accumulated Depreciation and Amortization	17,824
Office Building | Whippany, New Jersey
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	10,950
Land and Land Estates	4,063
Buildings and Improvements	19,711
Total	23,774
Accumulated Depreciation and Amortization	11,449
Office Building | Philadelphia, Pennsylvania | Philadelphia, PA Office, Acquired Jun-05
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	13,209
Buildings and Improvements	66,071
Total	79,280
Accumulated Depreciation and Amortization	45,920
Office Building | Florence, South Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	774
Buildings and Improvements	3,629
Total	4,403
Accumulated Depreciation and Amortization	938
Office Building | Fort Mill, South Carolina | Fort Mill, SC Office, Acquired Nov-04
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,798
Buildings and Improvements	26,964
Total	28,762
Accumulated Depreciation and Amortization	20,773
Office Building | Fort Mill, South Carolina | Fort Mill, SC Office, Acquired Dec-02
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,601
Buildings and Improvements	16,306
Total	19,907
Accumulated Depreciation and Amortization	7,381
Office Building | Mission, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,556
Buildings and Improvements	2,911
Total	5,467
Accumulated Depreciation and Amortization	1,270
Office Building | Herndon, Virginia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,127
Buildings and Improvements	25,293
Total	30,420
Accumulated Depreciation and Amortization	12,789
Office Building, Multi-tenant/vacant properties | Phoenix, Arizona
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,096
Buildings and Improvements	6,228
Total	7,324
Accumulated Depreciation and Amortization	806
Office Building, Multi-tenant/vacant properties | Baton Rouge, Louisiana
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	340
Buildings and Improvements	1,535
Total	1,875
Accumulated Depreciation and Amortization	0
Other Property | Venice, Florida
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,696
Buildings and Improvements	11,753
Total	16,449
Accumulated Depreciation and Amortization	10,712
Other Property | Baltimore, Maryland | Baltimore, MD Other Acquired Dec-06
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,605
Buildings and Improvements	0
Total	4,605
Accumulated Depreciation and Amortization	0
Other Property | Baltimore, Maryland | Baltimore, MD Other Acquired Dec-15
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,000
Buildings and Improvements	0
Total	5,000
Accumulated Depreciation and Amortization	0
Other properties, Multi-tenant properties | Honolulu, Hawaii
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	8,259
Buildings and Improvements	7,471
Total	15,730
Accumulated Depreciation and Amortization	7,416
Construction in Progress
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	0
Buildings and Improvements	0
Total	3,116
Accumulated Depreciation and Amortization	$ 0

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation and Amortization - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Total cost basis for federal income tax purposes	$ 4,000,000
Reconciliation of real estate owned:
Balance at the beginning of year	3,320,574	$ 3,090,134	$ 3,936,459
Additions during year	580,861	663,742	310,207
Properties sold and impaired during the year	(354,218)	(496,730)	(1,091,956)
Other reclassifications	(32,653)	63,428	(64,576)
Balance at end of year	3,514,564	3,320,574	3,090,134
Reconciliation of accumulated depreciation and amortization:
Balance at the beginning of year	675,596	722,644	890,969
Depreciation and amortization expense	127,504	118,525	136,571
Accumulated depreciation and amortization of properties sold, impaired and held for sale during year	(102,261)	(177,709)	(290,938)
Other reclassifications	(16,371)	12,136	(13,958)
Balance at end of year	$ 684,468	$ 675,596	$ 722,644