10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2016

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

COMMISSION FILE NUMBER 001-13777

GETTY REALTY CORP.

(Exact name of registrant as specified in its charter)

Maryland	11-3412575
(State or other jurisdiction of incorporation or organization)	(I.R.S. employer identification no.)
Two Jericho Plaza, Suite 110, Jericho, New York	11753-1681
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (516) 478-5400

Securities registered pursuant to Section 12(b) of the Act:

TITLE OF EACH CLASS	NAME OF EACH EXCHANGE ON WHICH REGISTERED
Common Stock, $0.01 par value	New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

None

(Title of Class)

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ☒    No  ☐

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  ☐    No  ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.    Yes  ☐    No  ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐  (Do not check if a smaller reporting company)	Smaller reporting company	☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒

The aggregate market value of common stock held by non-affiliates (26,578,306 shares of common stock) of the Company was $570,105,000 as of June 30, 2016.

The registrant had outstanding 34,573,340 shares of common stock as of March 2, 2017.

DOCUMENTS INCORPORATED BY REFERENCE

DOCUMENT	PART OF FORM 10-K
Selected Portions of Definitive Proxy Statement for the 2017 Annual Meeting of Stockholders (the “Proxy Statement”), which will be filed by the registrant on or prior to 120 days following the end of the registrant’s year ended December 31, 2016, pursuant to Regulation 14A.	III

TABLE OF CONTENTS

Item	Description	Page
	Cautionary Note Regarding Forward-Looking Statements		3
	PART I
1	Business		4
1A	Risk Factors		7
1B	Unresolved Staff Comments		17
2	Properties		17
3	Legal Proceedings		19
4	Mine Safety Disclosures		22
	PART II
5	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities		23
6	Selected Financial Data		25
7	Management’s Discussion and Analysis of Financial Condition and Results of Operations		26
7A	Quantitative and Qualitative Disclosures About Market Risk		39
8	Financial Statements and Supplementary Data		41
9	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure		68
9A	Controls and Procedures		68
9B	Other Information		68
	PART III
10	Directors, Executive Officers and Corporate Governance		70
11	Executive Compensation		70
12	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters		70
13	Certain Relationships and Related Transactions, and Director Independence		70
14	Principal Accountant Fees and Services		70
	PART IV
15	Exhibits and Financial Statement Schedules		71
	Signatures		91
	Exhibit Index		92

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this Annual Report on Form 10-K may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. When we use the words “believes,” “expects,” “plans,” “projects,” “estimates,” “anticipates,” “predicts” and similar expressions, we intend to identify forward-looking statements. (All capitalized and undefined terms used in this section shall have the same meanings hereafter defined in this Annual Report on Form 10-K.)

Examples of forward-looking statements included in this Annual Report on Form 10-K include, but are not limited to, statements regarding: our network of convenience store and gasoline station properties; substantial compliance of our properties with federal, state and local provisions enacted or adopted pertaining to environmental matters; the impact of existing legislation and regulations on our competitive position; our prospective future environmental liabilities, including those resulting from preexisting unknown environmental contamination; quantifiable trends, which we believe allow us to make reasonable estimates of fair value for the future costs of environmental remediation resulting from the removal and replacement of USTs; the impact of our redevelopment efforts related to certain of our properties; the amount of revenue we expect to realize from our properties; our belief that our owned and leased properties are adequately covered by casualty and liability insurance; AFFO as a measure that best represents our recurring financial performance and its utility in comparing the sustainability of our operating performance with the sustainability of the operating performance of other REITs; corporate-level federal income taxes; the reasonableness of our estimates, judgments, projections and assumptions used regarding our accounting policies and methods; our critical accounting policies; our exposure and liability due to and our accruals, estimates and assumptions regarding our environmental liabilities and remediation costs; loan loss reserves or allowances; our belief that our accruals for environmental and litigation matters including matters related to our former Newark, New Jersey Terminal and the Lower Passaic River and MTBE multi-district litigation cases in the states of New Jersey and Pennsylvania, were appropriate based on the information then available; our claims for reimbursement of monies expended in in the defense and settlement of certain MTBE cases under pollution insurance policies; compliance with federal, state and local provisions enacted or adopted pertaining to environmental matters; our beliefs about the settlement proposals we receive and the probable outcome of litigation or regulatory actions and their impact on us; our expected recoveries from UST funds; our indemnification obligations and the indemnification obligations of others; our investment strategy and its impact on our financial performance; the adequacy of our current and anticipated cash flows from operations, borrowings under our Credit Agreement and available cash and cash equivalents; our continued compliance with the covenants in our Credit Agreement and Restated Prudential Note Purchase Agreement; our belief that certain environmental liabilities can be allocated to others under various agreements; our belief that our real estate assets are not carried at amounts in excess of their estimated net realizable fair value amounts; our beliefs regarding our properties, including their alternative uses and our ability to sell or lease our vacant properties over time; and our ability to maintain our federal tax status as a REIT.

These forward-looking statements are based on our current beliefs and assumptions and information currently available to us, and involve known and unknown risks (including the risks described in “Item 1A. Risk Factors” and in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and other risks that we describe from time to time in this and our other filings with the SEC), uncertainties and other factors which may cause our actual results, performance and achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

These risks include, but are not limited to risks associated with: complying with environmental laws and regulations and the costs associated with complying with such laws and regulations; counterparty risks; the creditworthiness of our tenants; our tenants’ compliance with their lease obligations; renewal of existing leases and our ability to either re-lease or sell properties; our dependence on external sources of capital; the uncertainty of our estimates, judgments, projections and assumptions associated with our accounting policies and methods; our business operations generating sufficient cash for distributions or debt service; potential future acquisitions and redevelopment opportunities; our ability to successfully manage our investment strategy; owning and leasing real estate; adverse developments in general business, economic or political conditions; substantially all of our tenants depending on the same industry for their revenues; property taxes; potential exposure related to pending lawsuits and claims; owning real estate primarily concentrated in the Northeast and Mid-Atlantic regions of the United States; competition in our industry; the adequacy of our insurance coverage and that of our tenants; failure to qualify as a REIT; changes in interest rates and our ability to manage or mitigate this risk effectively; adverse effect of inflation; dilution as a result of future issuances of equity securities; our dividend policy, ability to pay dividends and changes to our dividend policy; changes in market conditions; provisions in our corporate charter and by-laws; Maryland law discouraging a third-party takeover; the loss of a member or members of our management team; changes in accounting standards; future impairment charges; terrorist attacks and other acts of violence and war; and our information systems.

As a result of these and other factors, we may experience material fluctuations in future operating results on a quarterly or annual basis, which could materially and adversely affect our business, financial condition, operating results, ability to pay dividends or stock price. An investment in our stock involves various risks, including those mentioned above and elsewhere in this Annual Report on Form 10-K and those that are described from time to time in our other filings with the SEC.

You should not place undue reliance on forward-looking statements, which reflect our view only as of the date hereof. We undertake no obligation to publicly release revisions to these forward-looking statements that reflect future events or circumstances or reflect the occurrence of unanticipated events.

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PART I

Item 1. Business

Company Profile

Getty Realty Corp., a Maryland corporation, is the leading publicly-traded real estate investment trust (“REIT”) in the United States specializing in the ownership, leasing and financing of convenience store and gasoline station properties. Our 829 properties are located in 23 states across the United States and Washington, D.C. Our properties are operated under a variety of brands including 76, Aloha, BP, Citgo, Conoco, Exxon, Getty, Mobil, RaceTrac, Shell and Valero. We own the Getty^® trademark and trade name in connection with our real estate and the petroleum marketing business in the United States.

We are self-administered and self-managed by our management team, which has extensive experience in owning, leasing and managing convenience store and gasoline station properties. We have invested, and will continue to invest, in real estate and real estate related investments when appropriate opportunities arise. Our company is headquartered in Jericho, New York and as of March 2, 2017, we had 31 employees.

Company Operations

As of December 31, 2016, we owned 740 properties and leased 89 properties from third-party landlords. Our typical property is used as a convenience store and gasoline station, and is located on between one-half and three quarters of an acre of land in a metropolitan area. In addition, many of our properties are located at highly trafficked urban intersections or conveniently close to highway entrances or exit ramps. Our properties are concentrated in the Northeast and Mid-Atlantic regions. We believe our network of convenience store and gasoline station properties across the Northeast and the Mid-Atlantic regions of the United States is unique and that comparable networks of properties are not readily available for purchase or lease from other owners or landlords.

Substantially all of our properties are leased on a triple-net basis primarily to petroleum distributors, convenience store retailers and, to a lesser extent, to individual operators. Generally, our tenants supply fuel and either operate our properties directly or sublet our properties to operators who operate their convenience stores, gasoline stations, automotive repair service facilities or other businesses at our properties. Convenience store and gasoline station properties are an integral component of the transportation infrastructure supported by highly inelastic demand for refined petroleum products, day-to-day consumer goods and convenience foods.

Substantially all of our tenants’ financial results depend on the sale of refined petroleum products, convenience store sales or rental income from their subtenants. As a result, our tenants’ financial results are highly dependent on the performance of the petroleum marketing industry, which is highly competitive and subject to volatility. During the terms of our leases, we monitor the credit quality of our triple-net tenants by reviewing their published credit rating, if available, reviewing publicly available financial statements, or reviewing financial or other operating statements which are delivered to us pursuant to applicable lease agreements, monitoring news reports regarding our tenants and their respective businesses, and monitoring the timeliness of lease payments and the performance of other financial covenants under their leases.

Our Properties

Net Lease. As of December 31, 2016, we leased 808 of our properties to tenants under triple-net leases.

Our net lease properties include 724 properties leased to regional and national fuel distributors under 25 separate unitary or master triple-net leases and 84 properties leased under single unit triple-net leases. These leases generally provide for an initial term of 15 to 20 years with options for successive renewal terms of up to 20 years and periodic rent escalations. As of December 31, 2016, our contractual rent weighted average lease term, excluding renewal options was approximately 11 years. Our triple-net tenants are generally responsible for the payment of all taxes, maintenance, repairs, insurance and other operating expenses relating to our properties, and are also responsible for environmental contamination occurring during the terms of their leases and in certain cases also for environmental contamination that existed before their leases commenced. See Note 5 in “Item 8. Financial Statements and Supplementary Data” in this Form 10-K.

Several of our leases provide for additional rent based on the aggregate volume of fuel sold. For the year ended December 31, 2016, additional rent based on the aggregate volume of fuel sold was not material to our financial results. In addition, certain of our leases require the tenants to make capital expenditures at our properties, substantially all of which are related to the replacement of underground storage tanks (“UST” or “USTs”) that are owned by our tenants. As of December 31, 2016, we have a remaining commitment to fund up to $10.2 million in the aggregate with our tenants for our portion of such capital expenditures. See Note 2 in “Item 8. Financial Statements and Supplementary Data” in this Form 10-K.

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Redevelopment. As of December 31, 2016, we were actively redeveloping six of our former convenience store and gasoline station properties for alternative single-tenant net lease retail uses. See “Redevelopment Strategy and Activity” below for additional detail.

Vacancies. As of December 31, 2016, 15 of our properties were vacant. We expect that we will either sell or enter into new leases on these properties over time.

Investment Strategy and Activity

As part of our overall growth strategy, we regularly review acquisition and financing opportunities to invest in additional convenience store and gasoline station properties, and we expect to continue to pursue investments that we believe will benefit our financial performance. In addition to sale/leaseback and other real estate acquisitions, our investment activities include purchase money financing with respect to properties we sell, and real property loans relating to our leasehold portfolios. Our investment strategy seeks to generate current income and benefit from long-term appreciation in the underlying value of our real estate. To achieve that goal, we seek to invest in high quality individual properties and real estate portfolios that are in strong primary markets that serve high density population centers. A key element of our investment strategy is to invest in properties that will promote our geographic and tenant diversity. We cannot provide any assurance that we will be successful making additional investments, that investments which meet our investment criteria will be available or that our current sources of liquidity will be sufficient to fund such investments.

During the year ended December 31, 2016, we acquired fee simple or leasehold interests in three convenience store and gasoline station properties and an adjacent parcel of land to an existing property for a redevelopment project, in separate transactions, for an aggregate purchase price of $7.7 million. During the year ended December 31, 2015, we acquired fee simple interests in 80 convenience store and gasoline station properties for an aggregate purchase price of $219.2 million.

Over the last five years, we have acquired 138 properties, located in various states, for an aggregate purchase price of $322.9 million. These acquisitions included single property transactions and portfolio transactions ranging in size, the largest of which was the United Oil Transaction in June 2015. For information regarding the United Oil Transaction, see Note 12 in “Item 8. Financial Statements and Supplementary Data” and for selected combined audited financial data of United Oil, see “Item 9B. Other Information” in this Form 10-K.

Redevelopment Strategy and Activity

We believe that a portion of our properties are located in geographic areas, which together with other factors, may make them well-suited for alternative single-tenant net lease retail uses, such as quick service restaurants, automotive parts and service stores, specialty retail stores and bank branch locations. We believe that such alternative types of properties can be leased or sold at higher values than their current use. Accordingly, we are actively engaged in a redevelopment strategy with respect to certain of our properties.

For the year ended December 31, 2016, we spent $0.7 million (of which $0.3 million was previously accrued for at December 31, 2015) of construction-in-progress costs related to our redevelopment activities. For the year ended December 31, 2016, we completed one redevelopment project and $1.0 million of construction-in-progress was transferred to buildings and improvements on our consolidated balance sheet.

As of December 31, 2016, we were actively redeveloping six of our former convenience store and gasoline station properties for alternative single-tenant net lease retail uses. In addition, to the six properties currently classified as redevelopment, we are in various stages of feasibility and planning for the recapture of select properties, from our net lease portfolio, that are suitable for redevelopment to alternative single-tenant net lease retail uses. As of December 31, 2016, we have signed leases on seven properties, that are currently part of our net lease portfolio, which will be recaptured and transferred to redevelopment when the appropriate entitlements, permits and approvals have been secured.

The History of Our Company

Our founders started the business in 1955 with the ownership of one gasoline service station in New York City and combined real estate ownership, leasing and management with service station operation and petroleum distribution. We held our initial public offering in 1971 under the name Power Test Corp. In 1985, we acquired from Texaco the petroleum distribution and marketing assets of Getty Oil Company in the Northeast United States along with the Getty^® name and trademark in connection with our real estate and the petroleum marketing business in the United States.

Getty Petroleum Marketing, Inc. (“Marketing”) was formed to facilitate the spin-off of our petroleum marketing business to our shareholders, which was completed in 1997. Marketing was acquired by a U.S. subsidiary of OAO Lukoil (“Lukoil”) in December 2000. In connection with Lukoil’s acquisition of Marketing, we entered in to a long-term unitary triple-net lease (the “Master Lease”)

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with Marketing. In December 2011, Marketing filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court (the “Bankruptcy Court”). The Master Lease was terminated effective April 30, 2012, and pursuant to a final decree issued by the Bankruptcy Court in October 2015, the Chapter 11 cases pertaining to Marketing were closed, subject to final distributions to creditors which were made in November 2015. As of December 31, 2016, 391 of the properties we own or lease were previously leased to Marketing pursuant to the Master Lease.

We elected to be treated as a REIT under the federal income tax laws beginning January 1, 2001. A REIT is a corporation, or a business trust that would otherwise be taxed as a corporation, which meets certain requirements of the Internal Revenue Code. The Internal Revenue Code permits a qualifying REIT to deduct dividends paid, thereby effectively eliminating corporate level federal income tax and making the REIT a pass-through vehicle for federal income tax purposes. To meet the applicable requirements of the Internal Revenue Code, a REIT must, among other things, invest substantially all of its assets in interests in real estate (including mortgages and other REITs) or cash and government securities, derive most of its income from rents from real property or interest on loans secured by mortgages on real property, and distribute to shareholders annually a substantial portion of its taxable income. As a REIT, we are required to distribute at least 90% of our taxable income to our shareholders each year and would be subject to corporate level federal income taxes on any taxable income that is not distributed.

Major Tenants

As of December 31, 2016, we had three significant tenants by revenue:

• We leased 166 convenience store and gasoline station properties in three separate unitary leases and three stand-alone leases to subsidiaries of Global Partners LP (NYSE: GLP) (“Global Partners”). Two of these leases were assigned to subsidiaries of Global Partners in June 2015 by our former tenants, White Oak Petroleum, LLC and Big Apple Petroleum Realty, LLC (both affiliates of Capitol Petroleum Group, LLC). In the aggregate, our leases with subsidiaries of Global Partners represented 21% of our total revenues for the years ended December 31, 2016 and 2015. All of our unitary leases with subsidiaries of Global Partners are guaranteed by the parent company.

• We leased 77 convenience store and gasoline station properties pursuant to three separate unitary leases to Apro, LLC (d/b/a “United Oil”). In the aggregate, our leases with United Oil represented 15% and 9% of our total revenues for the years ended December 31, 2016 and 2015, respectively. For information regarding the United Oil Transaction see Note 12 in “Item 8. Financial Statements and Supplementary Data” in this Form 10-K. See Item 9B in this Form 10-K for selected combined audited financial data of United Oil.

• We leased 79 convenience store and gasoline station properties pursuant to three separate unitary leases to subsidiaries of Chestnut Petroleum Dist., Inc. (“Chestnut Petroleum”). In the aggregate, our leases with subsidiaries of Chestnut Petroleum represented 15% and 16% of our total revenues for the years ended December 31, 2016 and 2015, respectively. The largest of these unitary leases, covering 57 of our properties, is guaranteed by the parent company, its principals and numerous Chestnut Petroleum affiliates.

Our major tenants are part of larger corporate organizations and the financial distress of one subsidiary or other affiliated companies or businesses in those organizations may negatively impact the ability or willingness of our tenant to perform its obligations under its lease with us. For information regarding factors that could adversely affect us relating to our leases with these tenants, see “Item 1A. Risk Factors”.

Competition

The single-tenant net lease retail sector of the real estate industry in which we operate is highly competitive. In addition, we expect major real estate investors with significant capital will continue to compete with us for attractive acquisition opportunities. These competitors include petroleum manufacturing, distributing and marketing companies, other REITs, public and private investment funds, and other individual and institutional investors.

Trademarks

We own the Getty^® name and trademark in connection with our real estate and the petroleum marketing business in the United States and we permit certain of our tenants to use the Getty^® trademarks at properties that they lease from us.

Regulation

Our properties are subject to numerous federal, state and local laws and regulations including matters related to the protection of the environment such as the remediation of known contamination and the retirement and decommissioning or removal of long-lived assets including buildings containing hazardous materials, USTs and other equipment. These laws include: (i) requirements to report to governmental authorities discharges of petroleum products into the environment and, under certain circumstances, to remediate the

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soil and groundwater contamination, including pursuant to governmental order and directive, (ii) requirements to remove and replace USTs that have exceeded governmental-mandated age limitations and (iii) the requirement to provide a certificate of financial responsibility with respect to potential claims relating to UST failures. Our triple-net lease tenants are directly responsible for compliance with various environmental laws and regulations as the operators of our properties.

We believe that our properties are in substantial compliance with federal, state and local provisions pertaining to environmental matters. Although we are unable to predict what legislation or regulations may be adopted in the future with respect to environmental protection and waste disposal, we do not believe that existing legislation and regulations will have a material adverse effect on our competitive position. For additional information with respect to pending environmental lawsuits and claims see “Item 3. Legal Proceedings”.

Environmental expenses are principally attributable to remediation costs which are incurred for, among other things, removing USTs, excavation of contaminated soil and water, installing, operating, maintaining and decommissioning remediation systems, monitoring contamination and governmental agency compliance reporting required in connection with contaminated properties. We seek reimbursement from state UST remediation funds related to these environmental expenses where available. We enter into leases and various other agreements which allocate between the parties responsibility for known and unknown environmental liabilities at or relating to the subject premises. We are contingently liable for these environmental obligations in the event that our counterparty to the agreement does not satisfy them.

For all of our triple-net leases, our tenants are contractually responsible for compliance with environmental laws and regulations, removal of USTs at the end of their lease term and remediation of any environmental contamination that arises during the term of their tenancy. Under the terms of our leases covering properties previously leased to Marketing (substantially all of which commenced in 2012), we have agreed to be responsible for environmental contamination at the premises that was known at the time the lease commenced, and which existed prior to commencement of the lease and is discovered (other than as a result of a voluntary site investigation) during the first ten years of the lease term (or a shorter period for a minority of such leases). After expiration of such ten-year (or, in certain cases, shorter) period, responsibility for all newly discovered contamination, even if it relates to periods prior to commencement of the lease, is contractually allocated to our tenant. Our tenants at properties previously leased to Marketing are in all cases responsible for the cost of any remediation of contamination that results from their use and occupancy of our properties. Under substantially all of our other triple-net leases, responsibility for remediation of all environmental contamination discovered during the term of the lease (including known and unknown contamination that existed prior to commencement of the lease) is the responsibility of our tenant.

For additional information please refer to “Item 1A. Risk Factors” and to “Liquidity and Capital Resources,” “Environmental Matters” and “Contractual Obligations” in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and to Note 5 in “Item 8. Financial Statements and Supplementary Data” in this Form 10-K.

Additional Information

Our website address is www.gettyrealty.com. Information available on our website shall not be deemed to be a part of this Annual Report on Form 10-K. Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and any amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) are available on our website, free of charge, as soon as reasonably practicable after we electronically file such materials with, or furnish them to, the U.S. Securities and Exchange Commission (“SEC”). The public may read and copy any materials that we file with the SEC at the SEC’s Public Reference Room at 100 F Street, NE, Washington, DC 20549. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.

Our website also contains our business conduct guidelines (“Code of Ethics”), corporate governance guidelines and the charters of the Compensation, Nominating/Corporate Governance and Audit Committees of our Board of Directors. We intend to make available on our website any future amendments or waivers to our Code of Ethics within four business days after any such amendments or waivers become effective.

Item 1A. Risk Factors

We are subject to various risks, many of which are beyond our control. As a result of these and other factors, we may experience material fluctuations in our future operating results on a quarterly or annual basis, which could materially and adversely affect our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price. An investment in our stock involves various risks, including those mentioned below and elsewhere in this Annual Report on Form 10-K and those that are described from time to time in our other filings with the SEC.

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We incur significant operating costs as a result of environmental laws and regulations which costs could significantly rise and reduce our profitability.

We are subject to numerous federal, state and local laws and regulations, including matters relating to the protection of the environment. Under certain environmental laws, a current or previous owner or operator of real estate may be liable for contamination resulting from the presence or discharge of hazardous or toxic substances or petroleum products at, on, or under, such property, and may be required to investigate and clean-up such contamination. Such laws typically impose liability and clean-up responsibility without regard to whether the owner or operator knew of or caused the presence of the contaminants, or the timing or cause of the contamination, and the liability under such laws has been interpreted to be joint and several unless the harm is divisible and there is a reasonable basis for allocation of responsibility. For example, liability may arise as a result of the historical use of a property or from the migration of contamination from adjacent or nearby properties. Any such contamination or liability may also reduce the value of the property. In addition, the owner or operator of a property may be subject to claims by third-parties based on injury, damage and/or costs, including investigation and clean-up costs, resulting from environmental contamination present at or emanating from a property. The properties owned or controlled by us are leased primarily as convenience store and gasoline station properties, and therefore may contain, or may have contained, USTs for the storage of petroleum products and other hazardous or toxic substances, which creates a potential for the release of such products or substances. Some of our properties are subject to regulations regarding the retirement and decommissioning or removal of long-lived assets including buildings containing hazardous materials, USTs and other equipment. Some of the properties may be adjacent to or near properties that have contained or currently contain USTs used to store petroleum products or other hazardous or toxic substances. In addition, certain of the properties are on, adjacent to, or near properties upon which others have engaged or may in the future engage in activities that may release petroleum products or other hazardous or toxic substances. There may be other environmental problems associated with our properties of which we are unaware. These problems may make it more difficult for us to re-let or sell our properties on favorable terms, or at all.

For additional information with respect to pending environmental lawsuits and claims, and environmental remediation obligations and estimates see “Item 3. Legal Proceedings”, “Environmental Matters” in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Notes 3 and 5 in “Item 8. Financial Statements and Supplementary Data” in this Form 10-K.

We enter into leases and various other agreements which contractually allocate responsibility between the parties for known and unknown environmental liabilities at or relating to the subject properties. We are contingently liable for these environmental obligations in the event that our counterparty to the lease or other agreement does not satisfy them. It is possible that our assumptions regarding the ultimate allocation method and share of responsibility that we used to allocate environmental liabilities may change, which may result in material adjustments to the amounts recorded for environmental litigation accruals and environmental remediation liabilities. We are required to accrue for environmental liabilities that we believe are allocable to others under our leases and other agreements if we determine that it is probable that our counterparty will not meet its environmental obligations. We may ultimately be responsible to pay for environmental liabilities as the property owner if the counterparty fails to pay them. We assess whether to accrue for environmental liabilities based upon relevant factors including our tenants’ histories of paying for such obligations, our assessment of their financial ability, and their intent to pay for such obligations. However, there can be no assurance that our assessments are correct or that our tenants who have paid their obligations in the past will continue to do so. The ultimate resolution of these matters could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

For all of our triple-net leases, our tenants are contractually responsible for compliance with environmental laws and regulations, removal of USTs at the end of their lease term (the cost of which in certain cases is partially borne by us) and remediation of any environmental contamination that arises during the term of their tenancy. Under the terms of our leases covering properties previously leased to Marketing (substantially all of which commenced in 2012), we have agreed to be responsible for environmental contamination at the premises that was known at the time the lease commenced, and which existed prior to commencement of the lease and is discovered (other than as a result of a voluntary site investigation) during the first ten years of the lease term (or a shorter period for a minority of such leases). After expiration of such ten-year (or, in certain cases, shorter) period, responsibility for all newly discovered contamination, even if it relates to periods prior to commencement of the lease, is contractually allocated to our tenant. Our tenants at properties previously leased to Marketing are in all cases responsible for the cost of any remediation of contamination that results from their use and occupancy of our properties. Under substantially all of our other triple-net leases, responsibility for remediation of all environmental contamination discovered during the term of the lease (including known and unknown contamination that existed prior to commencement of the lease) is the responsibility of our tenant.

We anticipate that a majority of the USTs at properties previously leased to Marketing will be replaced over the next several years because these USTs are either at or near the end of their useful lives. For long-term, triple-net leases covering sites previously leased to Marketing, our tenants are responsible for the cost of removal and replacement of USTs and for remediation of contamination found during such UST removal and replacement, unless such contamination was found during the first ten years of the lease term and also existed prior to commencement of the lease. In those cases, we are responsible for costs associated with the remediation of

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such contamination. We have also agreed to be responsible for environmental contamination that existed prior to the sale of certain properties assuming the contamination is discovered (other than as a result of a voluntary site investigation) during the first five years after the sale of the properties.

In the course of certain UST removals and replacements at properties previously leased to Marketing where we retained continuing responsibility for preexisting environmental obligations, previously unknown environmental contamination was and continues to be discovered. As a result, we have developed a reasonable estimate of fair value for the prospective future environmental liability resulting from preexisting unknown environmental contamination and accrued for these estimated costs. These estimates are based primarily upon quantifiable trends, which we believe allow us to make reasonable estimates of fair value for the future costs of environmental remediation resulting from the removal and replacement of USTs. Our accrual of the additional liability represents the best estimate of the fair value of cost for each component of the liability, net of estimated recoveries from state UST remediation funds, considering estimated recovery rates developed from prior experience with the funds. In arriving at our accrual, we analyzed the ages of USTs at properties where we would be responsible for preexisting contamination found within ten years after commencement of a lease (for properties subject to long-term triple-net leases) or five years from a sale (for divested properties), and projected a cost to closure for new environmental contamination. Based on these estimates, along with relevant economic and risk factors, at December 31, 2016 and 2015, we have accrued $45.0 million and $45.4 million, respectively, for these future environmental liabilities related to preexisting unknown contamination. Our estimates are based upon facts that are known to us at this time and an assessment of the possible ultimate remedial action outcomes. It is possible that our assumptions, which form the basis of our estimates, regarding our ultimate environmental liabilities may change, which may result in our providing an accrual, or adjustments to the amounts recorded, for environmental remediation liabilities. Among the many uncertainties that impact the estimates are our assumptions, the necessary regulatory approvals for, and potential modifications of remediation plans, the amount of data available upon initial assessment of contamination, changes in costs associated with environmental remediation services and equipment, the availability of state UST remediation funds and the possibility of existing legal claims giving rise to additional claims. Additional environmental liabilities could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Environmental exposures are difficult to assess and estimate for numerous reasons, including the extent of contamination, alternative treatment methods that may be applied, location of the property which subjects it to differing local laws and regulations and their interpretations, as well as the time it takes to remediate contamination and receive regulatory approval. In developing our liability for estimated environmental remediation obligations on a property by property basis, we consider among other things, enacted laws and regulations, assessments of contamination and surrounding geology, quality of information available, currently available technologies for treatment, alternative methods of remediation and prior experience. Environmental accruals are based on estimates which are subject to significant change, and are adjusted as the remediation treatment progresses, as circumstances change and as environmental contingencies become more clearly defined and reasonably estimable. We expect to adjust the accrued liabilities for environmental remediation obligations reflected in our consolidated financial statements as they become probable and a reasonable estimate of fair value can be made.

We measure our environmental remediation liability at fair value based on expected future net cash flows, adjusted for inflation, and then discount them to present value. We adjust our environmental remediation liability quarterly to reflect changes in projected expenditures, changes in present value due to the passage of time and reductions in estimated liabilities as a result of actual expenditures incurred during each quarter. As of December 31, 2016, we had accrued a total of $74.5 million for our prospective environmental remediation liability. This accrual includes (a) $29.5 million, which was our best estimate of reasonably estimable environmental remediation obligations and obligations to remove USTs for which we are the title owner, net of estimated recoveries and (b) $45.0 million for future environmental liabilities related to preexisting unknown contamination.

We cannot predict what environmental legislation or regulations may be enacted in the future, or how existing laws or regulations will be administered or interpreted with respect to products or activities to which they have not previously been applied. We cannot predict if state UST fund programs will be administered and funded in the future in a manner that is consistent with past practices and if future environmental spending will continue to be eligible for reimbursement at historical recovery rates under these programs. Compliance with more stringent laws or regulations, as well as more vigorous enforcement policies of the regulatory agencies or stricter interpretation of existing laws, which may develop in the future, could have an adverse effect on our financial position, or that of our tenants, and could require substantial additional expenditures for future remediation.

As a result of the factors discussed above, or others, compliance with environmental laws and regulations could have a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

We are exposed to counterparty risk and there can be no assurances that we will effectively manage or mitigate this risk.

We regularly interact with counterparties in various industries. The types of counterparties most common to our transactions and agreements include, but are not limited to, landlords, tenants, vendors and lenders. We also enter into agreements to acquire and sell properties which allocate responsibility for certain costs to the counterparty. Our most significant counterparties include, but are not

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limited to, the members of the Bank Syndicate related to our Credit Agreement, the lender that is the counterparty to the Restated Prudential Note Purchase Agreement and our major tenants from whom we derive a significant amount of rental revenue. The default, insolvency or other inability or unwillingness of a significant counterparty to perform its obligations under an agreement or transaction, including, without limitation, as a result of the rejection of an agreement or transaction in bankruptcy proceedings, is likely to have a material adverse effect on us. As of December 31, 2016, we leased 166 convenience store and gasoline station properties pursuant to three separate unitary leases and three stand-alone leases to subsidiaries of Global Partners, LP (NYSE: GLP) (“Global Partners”). Two of these leases were assigned to subsidiaries of Global Partners in June 2015 by our former tenants, White Oak Petroleum, LLC and Big Apple Petroleum Realty, LLC (both affiliates of Capitol Petroleum Group, LLC). In the aggregate, our leases with subsidiaries of Global Partners represented 21% of our total revenues for the years ended December 31, 2016 and 2015. All of our unitary leases with subsidiaries of Global Partners are guaranteed by the parent company. As of December 31, 2016, we leased 77 convenience store and gasoline station properties pursuant to three separate unitary leases to Apro, LLC (d/b/a “United Oil”). In the aggregate, our leases with United Oil represented 15% and 9% of our total revenues for the years ended December 31, 2016 and 2015, respectively. See Item 9B in this Form 10-K for selected combined audited financial data of United Oil. As of December 31, 2016, we leased 79 convenience store and gasoline station properties pursuant to three separate unitary leases to subsidiaries of Chestnut Petroleum Dist. Inc. (“Chestnut Petroleum”). In the aggregate, our leases with subsidiaries of Chestnut Petroleum represented 15% and 16% of our total revenues for the years ended December 31, 2016 and 2015, respectively. The largest of these unitary leases, covering 57 of our properties, is guaranteed by the parent company, its principals and numerous Chestnut Petroleum affiliates. We may also undertake additional transactions with these or other existing tenants which would further concentrate our sources of rental revenues. Many of our tenants, including those noted above, are part of larger corporate organizations and the financial distress of one subsidiary or other affiliated companies or businesses in those organizations may negatively impact the ability or willingness of our tenant to perform its obligations under its lease with us. The failure of a major tenant or their default in their rental and other obligations to us is likely to have a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Because certain of our tenants are not rated and their financial information is not available to you, it may be difficult for our investors to determine their creditworthiness.

The majority of our properties are leased to tenants who are not rated by any nationally recognized statistical rating organizations. In addition, our tenant’s financial information is not generally available to our investors. Additionally, many of our tenants are part of larger corporate organizations and we do not receive financial information for the other entities in those organizations. The financial distress of other affiliated companies or businesses in those organizations may negatively impact the ability or willingness of our tenant to perform its obligations under its lease with us. Because of the lack of financial information or credit ratings it is, therefore, difficult for our investors to assess the creditworthiness of our tenants and to determine the ability of a tenant to meet its obligations to us. It is possible that the assumptions and estimates we make after reviewing publicly and privately obtained information about our tenants are not accurate and that we may be required to increase reserves for bad debts, record allowances for deferred rent receivable or record additional expenses if our tenants are unable or unwilling to meet their obligations to us.

Our future cash flow is dependent on the performance of our tenants of their lease obligations, renewal of existing leases and either re-leasing or selling our properties.

We are subject to risks that financial distress, default or bankruptcy of our tenants may lead to vacancy at our properties or disruption in rent receipts as a result of partial payment or nonpayment of rent or that expiring leases may not be renewed. Under unfavorable general economic conditions, there can be no assurance that our tenants’ level of sales and financial performance generally will not be adversely affected, which in turn, could negatively impact our rental revenues. We are subject to risks that the terms governing renewal or re-leasing of our properties (including, compliance with numerous federal, state and local laws and regulations related to the protection of the environment, such as the remediation of contamination and the retirement and decommissioning or removal of long-lived assets, the cost of required renovations, or replacement of USTs and related equipment) may be less favorable than current lease terms.

We are also subject to the risk that we may receive less net proceeds from the properties we sell as compared to their current carrying value or that the value of our properties may be adversely affected by unfavorable general economic conditions. Unfavorable general economic conditions may also negatively impact our ability to re-lease or sell our properties. Numerous properties compete with our properties in attracting tenants to lease space. The number of available or competitive properties in a particular area could have a material adverse effect on our ability to lease or sell our properties and on the rents we are able to charge. In addition to the risk of disruption in rent receipts, we are subject to the risk of incurring real estate taxes, maintenance, environmental and other expenses at vacant properties. The financial distress, default or bankruptcy of our tenants may also lead to protracted and expensive processes for retaking control of our properties than would otherwise be the case, including, eviction or other legal proceedings related to or resulting from the tenant’s default. These risks are greater with respect to certain of our tenants who lease multiple properties from us.

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If a tenant files for bankruptcy protection it is possible that we would recover substantially less than the full value of our claims against the tenant. If our tenants do not perform their lease obligations; or we are unable to renew existing leases and promptly recapture and re-lease or sell our properties; or if lease terms upon renewal or re-leasing are less favorable than current or historical lease terms; or if the values of properties that we sell are adversely affected by market conditions; or if we incur significant costs or disruption related to or resulting from tenant financial distress, default or bankruptcy; then our cash flow could be significantly adversely affected.

We are dependent on external sources of capital which may not be available on favorable terms, or at all.

We are dependent on external sources of capital to maintain our status as a REIT and must distribute to our shareholders each year at least 90% of our net taxable income, excluding any net capital gain. Because of these distribution requirements, it is not likely that we will be able to fund all future capital needs, including acquisitions, from income from operations. Therefore, we will have to continue to rely on third-party sources of capital, which may or may not be available on favorable terms, or at all. We may need to access the capital markets in order to execute future significant acquisitions. There can be no assurance that sources of capital will be available to us on favorable terms, or at all.

Our principal sources of liquidity are our cash flows from operations, funds available under our $225.0 million Credit Agreement with a group of banks led by Bank of America, N.A. The Credit Agreement consists of a $175.0 million Revolving Facility, which is scheduled to mature in June 2018 and a $50.0 million Term Loan, which is scheduled to mature in June 2020. Subject to the terms of the Credit Agreement and our continued compliance with its provisions, we have the option to (a) extend the term of the Revolving Facility for one additional year to June 2019 and (b) increase by $75.0 million the amount of the Revolving Facility to $250.0 million. On June 2, 2015, we entered into the Restated Prudential Note Purchase Agreement, amending and restating our existing senior secured note purchase agreement with Prudential and an affiliate of Prudential. Pursuant to the Restated Prudential Note Purchase Agreement, among other matters, Prudential and its affiliate, redenominated the existing notes in the aggregate amount of $100.0 million issued under the existing note purchase agreement as senior unsecured Series A Notes, and issued $75.0 million of senior unsecured Series B Notes bearing interest at 5.35% and maturing in June 2023 to Prudential and certain affiliates of Prudential. The Series A Notes continue to bear interest at 6.0% and mature in February 2021. For additional information, please refer to “Credit Agreement” and “Senior Unsecured Notes” in Note 4 in “Item 8. Financial Statements and Supplementary Data” in this Form 10-K.

Each of the Credit Agreement and the Restated Prudential Note Purchase Agreement contains customary financial and other covenants such as leverage and coverage ratios and minimum tangible net worth, as well as limitations on restricted payments, which may limit our ability to incur additional debt or pay dividends. The Credit Agreement contains customary events of default, including default under the Restated Prudential Note Purchase Agreement, change of control and failure to maintain REIT status. The Restated Prudential Note Purchase Agreement contains customary events of default, including default under the Credit Agreement and failure to maintain REIT status. Our ability to meet the terms of the agreements is dependent on our continued ability to meet certain criteria as further described in Note 4 in “Item 8. Financial Statements and Supplementary Data” the performance of our tenants and the other risks described in this section. If we are not in compliance with one or more of our covenants, which could result in an event of default under our Credit Agreement or our Restated Prudential Note Purchase Agreement, there can be no assurance that our lenders would waive such non-compliance. This could have a material adverse effect on our business, financial condition, results of operation, liquidity, ability to pay dividends or stock price.

Our access to third-party sources of capital depends upon a number of factors including general market conditions, the market’s perception of our growth potential, financial stability, our current and potential future earnings and cash distributions, covenants and limitations imposed under our Credit Agreement and Restated Prudential Note Purchase Agreement and the market price of our common stock.

Our accounting policies and methods are fundamental to how we record and report our financial position and results of operations, and they require management to make estimates, judgments and assumptions about matters that are inherently uncertain.

Our accounting policies and methods are fundamental to how we record and report our financial position and results of operations. We have identified several accounting policies as being critical to the presentation of our financial position and results of operations because they require management to make particularly subjective or complex judgments about matters that are inherently uncertain and because of the likelihood that materially different amounts would be recorded under different conditions or using different assumptions. We cannot provide any assurance that we will not make subsequent significant adjustments to our consolidated financial statements. Estimates, judgments and assumptions underlying our consolidated financial statements include, but are not limited to, receivables and related reserves, deferred rent receivable, income under direct financing leases, asset retirement obligations including environmental remediation obligations and future environmental liabilities for pre-existing unknown environmental contamination, real estate, depreciation and amortization, carrying value of our properties, impairment of long-lived assets, litigation,

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accrued liabilities, income taxes and allocation of the purchase price of properties acquired to the assets acquired and liabilities assumed.

If our accounting policies, methods, judgments, assumptions, estimates and allocations prove to be incorrect, or if circumstances change, our business, financial condition, revenues, operating expense, results of operations, liquidity, ability to pay dividends or stock price may be materially adversely affected.

Our business operations may not generate sufficient cash for distributions or debt service.

There is no assurance that our business will generate sufficient cash flow from operations or that future borrowings will be available to us in an amount sufficient to enable us to pay dividends on our common stock, to pay our indebtedness or to fund our other liquidity needs. We may not be able to repay or refinance existing indebtedness on favorable terms, which could force us to dispose of properties on disadvantageous terms (which may also result in losses) or accept financing on unfavorable terms.

We may acquire new properties and this may create risks.

We may acquire or develop properties when we believe that an acquisition or development matches our business and investment strategies. These properties may have characteristics or deficiencies currently unknown to us that affect their value or revenue potential. It is possible that the operating performance of these properties may decline after we acquire them, they may not perform as expected and, if financed by the Company using debt or new equity issuances, may result in shareholder dilution. Our acquisition of properties will expose us to the liabilities of those properties, some of which we may not be aware of at the time of acquisition. We face competition in pursuing these acquisitions and we may not succeed in leasing acquired properties at rents sufficient to cover their costs of acquisition and operations.

Newly acquired properties may require significant management attention that would otherwise be devoted to our ongoing business. We may not succeed in consummating desired acquisitions. Consequences arising from or in connection with any of the foregoing could have a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

We are pursuing redevelopment opportunities and this creates risks to our Company.

We have commenced a program to redevelop certain of our properties and to recapture select properties from our net lease portfolio in order to redevelop such properties for alternative uses. The success at each stage of our redevelopment program is dependent on numerous factors and risks including our ability to identify and extract preferred sites from our portfolio and successfully prepare and market them for alternative uses, and project development issues, including those relating to planning, zoning, licensing, permitting, third party and governmental authorizations, changes in local market conditions, increases in construction costs, the availability and cost of financing, and issues arising from possible discovery of new environmental contamination and the need to conduct environmental remediation. Occupancy rates and rents at any particular redeveloped property may fail to meet our original expectations for a number of reasons beyond our control, including changes in market and economic conditions and the development by competitors of competing properties. We could experience increased and unexpected costs or significant delays or abandonment of some or all of these redevelopment opportunities. For any of the above-described reasons, and others, we may determine to abandon opportunities that we have already begun to explore or with respect to which we have commenced redevelopment efforts and, as a result, we may fail to recover expenses already incurred. We cannot assure you that we will be able to successfully redevelop and lease any of our identified opportunities or that our overall redevelopment program will be successful. Consequences arising from or in connection with any of the foregoing could have a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

We may not be able to successfully implement our investment strategy.

We may not be able to successfully implement our investment strategy. We cannot assure you that our portfolio of properties will expand at all, or if it will expand at any specified rate or to any specified size. As part of our overall growth strategy, we regularly review acquisition, financing and development opportunities, and we expect to continue to pursue investments that we believe will benefit our financial performance. We cannot assure you that investment opportunities will be available which meet our investment criteria. Pursuing our investment opportunities may result in the issuance of new equity securities of the Company that may initially be dilutive to our net income, and such investments may not perform as we expect or produce the returns that we anticipate (including, without limitation, as a result of tenant bankruptcies, tenant concessions, our inability to collect rents and higher than anticipated operating expenses). Further, we may not successfully integrate investments into our existing portfolio without operating disruptions or unanticipated costs. To the extent that our current sources of liquidity are not sufficient to fund such investments, we will require other sources of capital, which may or may not be available on favorable terms or at all. Additionally, to the extent we increase the size of our portfolio, we may not be able to adapt our management, administrative, accounting and

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operational systems, or hire and retain sufficient operational staff to integrate investments into our portfolio or manage any future investments without operating disruptions or unanticipated costs. Moreover, our continued growth will require increased investment in management personnel, professional fees, other personnel, financial and management systems and controls and facilities, which will result in additional operating expenses. Under the circumstances described above, our results of operations, financial condition and growth prospects may be materially adversely affected.

We are subject to risks inherent in owning and leasing real estate.

We are subject to varying degrees of risk generally related to leasing and owning real estate many of which are beyond our control. In addition to general risks applicable to us, our risks include, among others: our liability as a lessee for long-term lease obligations regardless of our revenues; deterioration in national, regional and local economic and real estate market conditions; potential changes in supply of, or demand for, rental properties similar to ours; competition for tenants and declining rental rates; difficulty in selling or re-leasing properties on favorable terms or at all; impairments in our ability to collect rent or other payments due to us when they are due; increases in interest rates and adverse changes in the availability, cost and terms of financing; uninsured property liability; the impact of present or future environmental legislation and compliance with environmental laws; adverse changes in zoning laws and other regulations; acts of terrorism and war; acts of God; the potential risk of functional obsolescence of properties over time the need to periodically renovate and repair our properties; and physical or weather-related damage to our properties.

Certain significant expenditures generally do not change in response to economic or other conditions, including: (i) debt service, (ii) real estate taxes, (iii) environmental remediation costs and (iv) operating and maintenance costs. The combination of variable revenue and relatively fixed expenditures may result, under certain market conditions, in reduced earnings and could have an adverse effect on our financial condition.

Each of the factors listed above could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price. In addition, real estate investments are relatively illiquid, which means that our ability to vary our portfolio of properties in response to changes in economic and other conditions may be limited.

Adverse developments in general business, economic or political conditions could have a material adverse effect on us.

Adverse developments in general business and economic conditions, including through recession, downturn or otherwise, either in the economy generally or in those regions in which a large portion of our business is conducted, could have a material adverse effect on us and significantly increase certain of the risks we are subject to. Among other effects, adverse economic conditions could depress real estate values, impact our ability to re-let or sell our properties and have an adverse effect on our tenants’ level of sales and financial performance generally. Our revenues are dependent on the economic success of our tenants and any factors that adversely impact our tenants could also have a material adverse effect on our business, financial condition and results of operations, liquidity, ability to pay dividends or stock price.

Substantially all of our tenants depend on the same industry for their revenues.

We derive substantially all of our revenues from leasing, primarily on a triple-net basis, and financing convenience store and gasoline station properties to tenants in the petroleum marketing industry. Accordingly, our revenues are substantially dependent on the economic success of the petroleum marketing industry, and any factors that adversely affect that industry, such as disruption in the supply of petroleum or a decrease in the demand for conventional motor fuels due to conservation, technological advancements in petroleum-fueled motor vehicles or an increase in the use of alternative fuel vehicles, or “green technology” could have a material adverse effect on our business, financial condition and results of operations, liquidity, ability to pay dividends or stock price. The success of participants in the petroleum marketing industry depends upon the sale of refined petroleum products at margins in excess of fixed and variable expenses. The petroleum marketing industry is highly competitive and volatile. Petroleum products are commodities, the prices of which depend on numerous factors that affect supply and demand. The prices paid by our tenants and other petroleum marketers for products are affected by global, national and regional factors. A large, rapid increase in wholesale petroleum prices would adversely affect the profitability and cash flows of our tenants if the increased cost of petroleum products could not be passed on to their customers or if automobile consumption of gasoline was to decline significantly. We cannot be certain how these factors will affect petroleum product prices or supply in the future, or how in particular they will affect our tenants.

Property taxes on our properties may increase without notice.

Each of the properties we own or lease is subject to real property taxes. The leases for certain of the properties that we lease from third-parties obligate us to pay real property taxes with regard to those properties. The real property taxes on our properties and any other properties that we acquire or lease in the future may increase as property tax rates change and as those properties are assessed or reassessed by tax authorities. To the extent that our tenants are not responsible for property taxes pursuant to their

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contractual arrangements with us or are unable or unwilling to pay such increase in accordance with their leases, our net operating expenses may increase.

We are defending pending lawsuits and claims and are subject to material losses.

We are subject to various lawsuits and claims, including litigation related to environmental matters, such as those arising from leaking USTs, contamination of groundwater with methyl tertiary butyl ether (a fuel derived from methanol, commonly referred to as “MTBE”) and releases of motor fuel into the environment, and toxic tort claims. For example, we are currently involved in several proceedings described in “Item 3. Legal Proceedings” in this Annual Report on Form 10-K. The ultimate resolution of certain matters cannot be predicted because considerable uncertainty exists both in terms of the probability of loss and the estimate of such loss. Our ultimate liabilities resulting from the lawsuits and claims we face could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price. For additional information with respect to pending environmental lawsuits and claims and environmental remediation obligations and estimates see “Item 3. Legal Proceedings”, “Environmental Matters” in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Notes 3 and 5 in “Item 8. Financial Statements and Supplementary Data” in this Form 10-K.

A significant portion of our properties are concentrated in the Northeast and Mid-Atlantic regions of the United States, and adverse conditions in those regions, in particular, could negatively impact our operations.

A significant portion of the properties we own and lease are located in the Northeast and Mid-Atlantic regions of the United States and 56.5% of our properties are concentrated in three states (New York, Massachusetts and Connecticut). Because of the concentration of our properties in those regions, in the event of adverse economic conditions in those regions, we would likely experience higher risk of default on payment of rent to us than if our properties were more geographically diversified. Additionally, the rents on our properties may be subject to a greater risk of default than other properties in the event of adverse economic, political or business developments or natural hazards that may affect the Northeast or Mid-Atlantic regions of the United States and the ability of our lessees to make rent payments. This lack of geographical diversification could have a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

We are in a competitive business.

The real estate industry is highly competitive. Where we own properties, we compete for tenants with a large number of real estate property owners and other companies that sublet properties. Our principal means of competition are rents we are able to charge in relation to the income producing potential of the location. In addition, we expect other major real estate investors, some with much greater financial resources or more experienced personnel than we have, will compete with us for attractive acquisition opportunities. These competitors include petroleum manufacturing, distributing and marketing companies, convenience store retailers, other REITs, public and private investment funds, and other individual and institutional investors. This competition has increased prices for properties we seek to acquire and may impair our ability to make suitable property acquisitions on favorable terms in the future.

We are subject to losses that may not be covered by insurance.

We, and certain of our tenants, carry insurance against certain risks and in such amounts as we believe are customary for businesses of our kind. However, as the costs and availability of insurance change, we may decide not to be covered against certain losses (such as certain environmental liabilities, earthquakes, hurricanes, floods and civil disorder) where, in the judgment of management, the insurance is not warranted due to cost or availability of coverage or the remoteness of perceived risk. Furthermore, there are certain types of losses, such as losses resulting from wars, terrorism or certain acts of God, that generally are not insured because they are either uninsurable or not economically insurable. There is no assurance that the existing insurance coverages are or will be sufficient to cover actual losses incurred. The destruction of, or significant damage to, or significant liabilities arising out of conditions at, our properties due to an uninsured loss would result in an economic loss and could result in us losing both our investment in, and anticipated profits from, such properties. When a loss is insured, the coverage may be insufficient in amount or duration, or a lessee’s customers may be lost, such that the lessee cannot resume its business after the loss at prior levels or at all, resulting in reduced rent or a default under its lease. Any such loss relating to a large number of properties could have a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Failure to qualify as a REIT under the federal income tax laws would have adverse consequences to our shareholders. Uncertain tax matters may have a significant impact on the results of operations for any single fiscal year or interim period or may cause us to fail to qualify as a REIT.

We elected to be treated as a REIT under the federal income tax laws beginning January 1, 2001. To qualify for taxation as a REIT, we must, among other requirements such as those related to the composition of our assets and gross income, distribute annually to our stockholders at least 90% of our taxable income, including taxable income that is accrued by us without a

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corresponding receipt of cash. Accordingly, we generally will not be subject to federal income tax on qualifying REIT income, provided that distributions to our shareholders equal at least the amount of our taxable income as defined under the Internal Revenue Code.

Many of the REIT requirements are highly technical and complex. If we were to fail to meet the requirements, or if the Internal Revenue Service were to successfully assert that our earnings and profits were greater than the amount distributed, we may be subject to federal income tax, excise taxes, penalties and interest or we may have to pay a deficiency dividend to eliminate any earnings and profits that were not distributed. We may have to borrow money or sell assets to pay such a deficiency dividend.

We cannot guarantee that we will continue to qualify in the future as a REIT. We cannot give any assurance that new legislation, regulations, administrative interpretations or court decisions will not significantly change the requirements relating to our qualification. If we fail to qualify as a REIT, we would not be allowed a deduction for distributions to shareholders in computing our taxable income and will again be subject to federal income tax at regular corporate rates, we could be subject to the federal alternative minimum tax, we could be required to pay significant income taxes and we would have less money available for our operations and distributions to shareholders. This would likely have a significant adverse effect on the value of our securities. We could also be precluded from treatment as a REIT for four taxable years following the year in which we lost the qualification, and all distributions to shareholders would be taxable as regular corporate dividends to the extent of our current and accumulated earnings and profits. Loss of our REIT status could have a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

We are exposed to interest rate risk and there can be no assurances that we will manage or mitigate this risk effectively.

We are exposed to interest rate risk, primarily as a result of our Credit Agreement. Borrowings under our Credit Agreement bear interest at a floating rate. Accordingly, an increase in interest rates will increase the amount of interest we must pay under our Credit Agreement. Our interest rate risk may materially change in the future if we increase our borrowings under the Credit Agreement, or amend our Credit Agreement or Restated Prudential Note Purchase Agreement, seek other sources of debt or equity capital or refinance our outstanding debt. A significant increase in interest rates could also make it more difficult to find alternative financing on desirable terms. For additional information with respect to interest rate risk, see “Item 7A. Quantitative and Qualitative Disclosures About Market Risk” in this Form 10-K.

Inflation may adversely affect our financial condition and results of operations.

Although inflation has not materially impacted our results of operations in the recent past, increased inflation could have a more pronounced negative impact on any variable rate debt we incur in the future and on our results of operations. During times when inflation is greater than increases in rent, as provided for in our leases, rent increases may not keep up with the rate of inflation. Likewise, even though our triple-net leases reduce our exposure to rising property expenses due to inflation, substantial inflationary pressures and increased costs may have an adverse impact on our tenants if increases in their operating expenses exceed increases in revenue, which may adversely affect our tenants’ ability to pay rent.

Future issuances of equity securities could dilute the interest of holders of our equity securities.

Our future growth will depend upon our ability to raise additional capital. If we were to raise additional capital through the issuance of equity securities, we could dilute the interest of holders of our common stock. The interest of our common stockholders could also be diluted by the issuance of shares of common stock pursuant to stock incentive plans. Accordingly, the Board of Directors may authorize the issuance of equity securities that could dilute, or otherwise adversely affect, the interest of holders of our common stock.

We may change our dividend policy and the dividends we pay may be subject to significant volatility.

The decision to declare and pay dividends on our common stock in the future, as well as the timing, amount and composition of any such future dividends, will be at the sole discretion of our Board of Directors and will depend on such factors as the Board of Directors deems relevant. In addition, our Credit Agreement and our Restated Prudential Note Purchase Agreement prohibit the payments of dividends during certain events of default. No assurance can be given that our financial performance in the future will permit our payment of any dividends or that the amount of dividends we pay, if any, will not fluctuate significantly.

Under the Maryland General Corporation Law, our ability to pay dividends would be restricted if, after payment of the dividend, (1) we would not be able to pay indebtedness as it becomes due in the usual course of business or (2) our total assets would be less than the sum of our liabilities plus the amount that would be needed, if we were to be dissolved, to satisfy the rights of any shareholders with liquidation preferences. There currently are no shareholders with liquidation preferences.

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Changes in market conditions could adversely affect the market price of our publicly traded common stock.

As with other publicly traded securities, the market price of our publicly traded common stock depends on various market conditions, which may change from time-to-time. Among the market conditions that may affect the market price of our publicly traded common stock are the following: our financial condition and performance and that of our significant tenants; the market’s perception of our growth potential and potential future earnings; the reputation of REITs generally and the reputation of REITs with portfolios similar to us; the attractiveness of the securities of REITs in comparison to securities issued by other entities (including securities issued by other real estate companies); an increase in market interest rates, which may lead prospective investors to demand a higher distribution rate in relation to the price paid for publicly traded securities; the extent of institutional investor interest in us; and general economic and financial market conditions.

In order to preserve our REIT status, our charter limits the number of shares a person may own, which may discourage a takeover that could result in a premium price for our common stock or otherwise benefit our stockholders.

Our charter, with certain exceptions, authorizes our Board of Directors to take such actions as are necessary and desirable to preserve our qualification as a REIT for federal income tax purposes. Unless exempted by our Board of Directors, no person may actually or constructively own more than 5% (by value or number of shares, whichever is more restrictive) of the outstanding shares of our common stock or the outstanding shares of any class or series of our preferred stock, which may inhibit large investors from desiring to purchase our stock. This restriction may have the effect of delaying, deferring or preventing a change in control, including an extraordinary transaction (such as a merger, tender offer or sale of all or substantially all of our assets) that might provide a premium price for our common stock or otherwise be in the best interest of our stockholders.

Maryland law may discourage a third-party from acquiring us.

We are subject to the provisions of the Maryland Business Combination Act (the “Business Combination Act”) which prohibits transactions between a Maryland corporation and an interested stockholder or an affiliate of an interested stockholder for five years after the most recent date on which the interested stockholder becomes an interested stockholder. Generally, pursuant to the Business Combination Act, an “interested stockholder” is a person who, together with affiliates and associates, beneficially owns, directly or indirectly, 10% or more of a Maryland corporation’s voting stock. These provisions could have the effect of delaying, preventing or deterring a change in control of our Company or reducing the price that certain investors might be willing to pay in the future for shares of our capital stock. Additionally, the Maryland Control Share Acquisition Act may deny voting rights to shares involved in an acquisition of one-tenth or more of the voting stock of a Maryland corporation. In our charter and bylaws, we have elected not to have the Maryland Control Share Acquisition Act apply to any acquisition by any person of shares of stock of our Company. However, in the case of the control share acquisition statute, our Board of Directors may opt to make this statute applicable to us at any time by amending our bylaws, and may do so on a retroactive basis. Finally, the “unsolicited takeovers” provisions of the Maryland General Corporation Law permit our Board of Directors, without stockholder approval and regardless of what is currently provided in our charter or bylaws, to implement certain provisions that may have the effect of inhibiting a third-party from making an acquisition proposal for our Company or of delaying, deferring or preventing a change in control of our Company under circumstances that otherwise could provide the holders of our common stock with the opportunity to realize a premium over the then current market price or that stockholders may otherwise believe is in their best interests.

The loss of certain members of our management team could adversely affect our business.

Our future success and ability to implement our business and investment strategy depends, in part, on our ability to attract and retain key management personnel and on the continued contributions of members of our senior management team, each of whom would be difficult to replace. As a REIT, we employ only 31 employees and have a cost-effective management structure. We do not have any employment agreements with any of our executives. In the event of the loss of key management personnel, or upon unexpected death, disability or retirement, we may not be able to find replacements with comparable skill, ability and industry expertise which could have a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Amendments to the Accounting Standards Codification made by the Financial Accounting Standards Board (the “FASB”) or changes in accounting standards issued by other standard-setting bodies may adversely affect our reported revenues, profitability or financial position.

Our consolidated financial statements are subject to the application of Generally Accepted Accounting Principles (“GAAP”) in accordance with the Accounting Standards Codification, which is periodically amended by the FASB. The application of GAAP is also subject to varying interpretations over time. Accordingly, we are required to adopt amendments to the Accounting Standards Codification or comply with revised interpretations that are issued from time-to-time by recognized authoritative bodies, including the FASB and the SEC. Those changes could adversely affect our reported revenues, profitability or financial position.

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Our assets may be subject to impairment charges.

We periodically evaluate our real estate investments and other assets for impairment indicators. The judgment regarding the existence of impairment indicators is based on GAAP, and includes a variety of factors such as market conditions, the accumulation of asset retirement costs due to changes in estimates associated with our estimated environmental liabilities, the status of significant leases, the financial condition of major tenants and other assumptions and factors that could affect the cash flow from or fair value of our properties. During the years ended December 31, 2016 and 2015, we incurred $12.8 million and $17.4 million, respectively, of impairment charges. We may be required to take similar impairment charges, which could affect the implementation of our current business strategy and have a material adverse effect on our financial condition and results of operations.

Terrorist attacks and other acts of violence or war may affect the market on which our common stock trades, the markets in which we operate, our operations and our results of operations.

Terrorist attacks or other acts of violence or war could affect our business or the businesses of our tenants. The consequences of armed conflicts are unpredictable, and we may not be able to foresee events that could have a material adverse effect on us. More generally, any of these events could cause consumer confidence and spending to decrease or result in increased volatility in the United States and worldwide financial markets and economy. Terrorist attacks also could be a factor resulting in, or a continuation of, an economic recession in the United States or abroad. Any of these occurrences could have a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

We rely on information technology in our operations, and any material failure, inadequacy, interruption or security failure of that technology could harm our business.

We rely on information technology networks and systems, including the Internet, to process, transmit and store electronic information and to manage or support a variety of our business processes, including financial transactions and maintenance of records, which may include personal identifying information of tenants and lease data. We rely on commercially available systems, software, tools and monitoring to provide security for processing, transmitting and storing confidential tenant information, such as individually identifiable information relating to financial accounts. Although we have taken steps to protect the security of the data maintained in our information systems, it is possible that our security measures will not be able to prevent the systems’ improper functioning, or the improper disclosure of personally identifiable information such as in the event of cyberattacks. Security breaches, including physical or electronic break-ins, computer viruses, attacks by hackers and similar breaches, can create system disruptions, shutdowns or unauthorized disclosure of confidential information. Any failure to maintain proper function, security and availability of our information systems could interrupt our operations, damage our reputation, subject us to liability claims or regulatory penalties and could materially and adversely affect us.

Item 1B. Unresolved Staff Comments

None.

Item 2. Properties

Substantially all our properties are leased or subleased to petroleum distributors and convenience store retailers, engaged in the sale of refined petroleum products and convenience store products, who are responsible for the operations conducted at our properties and for the payment of taxes, maintenance, repair, insurance and other operating expenses relating to our properties. In those instances, where we determine that the best use for a property is no longer its existing use, we will seek an alternative tenant or buyer for the property.

We believe that most of our owned and leased properties are adequately covered by casualty and liability insurance. In addition, in almost all cases we require our tenants to provide insurance for properties they lease from us, including casualty, liability, pollution legal liability, fire and extended coverage in amounts and on other terms satisfactory to us.

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The following table summarizes the geographic distribution of our properties at December 31, 2016. The table also identifies the number and location of properties we lease from third-parties. In addition, we lease approximately 8,900 square feet of office space at Two Jericho Plaza, Jericho, New York, which is used for our corporate headquarters, which we believe will remain suitable and adequate for such purposes for the immediate future.

	OWNED BY GETTY REALTY		LEASED BY GETTY REALTY		TOTAL PROPERTIES BY STATE		PERCENT OF TOTAL PROPERTIES
New York		222		47		269		32.5	%
Massachusetts		99		13		112		13.5
Connecticut		74		13		87		10.5
New Jersey		46		8		54		6.5
Virginia		45		1		46		5.6
New Hampshire		44		2		46		5.6
Maryland		41		2		43		5.2
Washington State		31		—		31		3.7
California		29		—		29		3.5
Pennsylvania		23		2		25		3.0
Texas		21		—		21		2.5
Colorado		15		—		15		1.8
Hawaii		10		—		10		1.2
Oregon		10		—		10		1.2
Maine		7		—		7		0.8
Rhode Island		5		—		5		0.6
Ohio		4		—		4		0.5
Arkansas		3		—		3		0.4
Florida		3		—		3		0.4
North Carolina		3		—		3		0.4
Nevada		2		—		2		0.2
Washington, D.C.		2		—		2		0.2
Delaware		—		1		1		0.1
North Dakota		1		—		1		0.1
Total		740		89		829		100.0	%

The properties that we lease from third-parties have a remaining lease term, including renewal and extension option terms, averaging approximately 11 years. The following table sets forth information regarding lease expirations, including renewal and extension option terms, for properties that we lease from third-parties:

CALENDAR YEAR	NUMBER OF LEASES EXPIRING		PERCENT OF TOTAL LEASED PROPERTIES			PERCENT OF TOTAL PROPERTIES
2017		6		6.8	%		0.7	%
2018		4		4.6			0.5
2019		6		6.8			0.7
2020		6		6.8			0.7
2021		8		9.0			1.0
Subtotal		30		34.0			3.6
Thereafter		59		66.0			7.1
Total		89		100.0	%		10.7	%

Revenues from rental properties and tenant reimbursements included in continuing and discontinued operations for the year ended December 31, 2016, were $111.7 million with respect to 836 average rental properties held during the year for an average revenue per rental property of approximately $133,600. Revenues from rental properties and tenant reimbursements included in continuing and discontinued operations for the year ended December 31, 2015, were $107.2 million with respect to 875 average rental properties held during the year for an average revenue per rental property of approximately $122,500.

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Rental property lease expirations and annualized contractual rent as of December 31, 2016, are as follows (in thousands, except for the number of rental units data):

CALENDAR YEAR	NUMBER OF RENTAL PROPERTIES(a)		ANNUALIZED CONTRACTUAL RENT(b)		PERCENTAGE OF TOTAL ANNUALIZED RENT
Redevelopment		6	$	—		0.0	%
Vacant		15		—		0.0
2017		24		2,045		2.2
2018		23		2,595		2.9
2019		54		6,025		6.6
2020		37		4,548		5.0
2021		47		4,140		4.6
2022		31		2,224		2.5
2023		11		1,335		1.5
2024		12		1,084		1.2
2025		13		2,614		2.9
2026		54		10,261		11.3
Thereafter		502		53,875		59.3
Total		829	$	90,746		100.0	%

(a) With respect to a unitary master lease that includes properties that we lease from third-parties, the expiration dates refer to the dates that the leases with the third-parties expire and upon which date our tenant must vacate those properties, not the expiration date of the unitary master lease itself.

(b) Represents the monthly contractual rent due from tenants under existing leases as of December 31, 2016, multiplied by 12.

Item 3. Legal Proceedings

We are subject to various legal proceedings, many of which we consider to be routine and incidental to our business. Many of these legal proceedings involve claims relating to alleged discharges of petroleum into the environment at current and former gasoline stations. We routinely assess our liabilities and contingencies in connection with these matters based upon the latest available information. The following is a description of material legal proceedings, including those involving private parties and governmental authorities under federal, state and local laws regulating the discharge of materials into the environment. We are vigorously defending all of the legal proceedings against us, including each of the legal proceedings listed below. As of December 31, 2016 and 2015, we had accrued $11.8 million and $11.3 million, respectively, for certain of these matters which we believe were appropriate based on information then currently available. It is possible that losses related to these legal proceedings could exceed the amounts accrued as of December 31, 2016, and that such additional losses could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

In 1991, the State of New York commenced an action in the Supreme Court, Albany County, against Kingston Oil Supply Corp. (our former heating oil subsidiary), Charles Baccaro and Amos Post, Inc. The action seeks recovery for reimbursement of investigation and remediating costs incurred by the New York Environmental Protection and Spill Compensation Fund, together with interest and statutory penalties under the New York Navigation Law. We answered the complaint on behalf of Kingston Oil Supply Corp. and Amos Post Inc. Thereafter, from approximately 1993 to November 2011, the case remained dormant except for a brief period in 2002 when the State of New York indicated an intention to prosecute the lawsuit. In November 2011, the State of New York recommenced efforts to pursue its claims for reimbursement of costs, interest and statutory penalties under the Navigation Law. In 2013, we reevaluated this case and determined that Kingston Oil Supply Corp. (ownership of which was transferred in 2009 by Marketing to Lukoil North America LLC), should be defending the action on behalf of itself and its Amos Post division, and we therefore made a demand to Kingston Oil Supply Corp. that it be responsible for the action. Although Kingston Oil Supply Corp.’s law firm was substituted in place of our law firm as the attorneys of record for Kingston Oil Supply Corp. and Amos Post Inc., Kingston Oil Supply Corp. nevertheless continued to dispute our position as to its defense responsibilities. In November 2015, we settled our dispute with Kingston Oil Supply Corp. regarding who, as between the two of us, was responsible for defense and liability (if any) for the underlying action, by agreeing that we would each pay one-half of the costs of defense incurred going forward, and one-half of any award upon settlement or final judgment. Discussions with the State of New York regarding this case are ongoing.

In September 2004, the State of New York commenced an action against us, United Gas Corp., Costa Gas Station, Inc., Vincent Costa, The Ingraham Bedell Corporation, Richard Berger and Exxon Mobil Corporation in New York Supreme Court in Albany County seeking recovery for reimbursement of investigation and remediation costs claimed to have been incurred by the New York Environmental Protection and Spill Compensation Fund relating to contamination it alleges emanated from various gasoline station properties located in the same vicinity in Uniondale, N.Y., including a site formerly owned by us and at which a petroleum release

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and cleanup occurred. The complaint also seeks future costs for remediation, as well as interest and penalties. We have served an answer to the complaint denying responsibility. In 2007, the State of New York commenced action against Shell Oil Company, Shell Oil Products Company, Motiva Enterprises, LLC, and related parties, in New York Supreme court, Albany County seeking basically the same relief sought in the action involving us. We have also filed a third party complaint against Hess Corporation and certain individual defendants based on alleged contribution to the contamination that is the subject of the State’s claims arising from a petroleum discharge at a gasoline station up-gradient from the site formerly owned by us. In 2016, the various actions filed by the State of New York and our third party actions were consolidated for discovery proceedings and trial. Discovery in this case is ongoing.

In September 2008, we received a directive and notice of violation from the New Jersey Department of Environmental Protection (“NJDEP”) calling for a remedial investigation and cleanup, to be conducted by us and Gary and Barbara Galliker (the “Gallikers”), individually and trading as Millstone Auto Service (“Millstone”), Auto Tech and other named parties, of petroleum-related contamination found at a gasoline station property located in Millstone Township, New Jersey. We did not own or lease this property, but in 1985 we did acquire ownership of certain USTs located at the property. In 1986 we tried to remove these USTs and were refused access by the Gallikers to do so. We believe the USTs were transferred to the Gallikers by operation of law not later than 1987 and responded to the NJDEP’s directive and notice by denying liability. In November 2009, the NJDEP issued an Administrative Order and Notice of Civil Administrative Penalty Assessment (the “Order and Assessment”) to us, Marketing and the Gallikers, individually and trading as Millstone. We filed for, and were granted, a hearing to contest the allegations of the Order and Assessment. A case management conference was held by the Administrative Law Judge assigned to hear the case, which is still in early stages of discovery and without a scheduled hearing date. In 2014, the NJDEP issued a notice of violation directed to the Gallikers and Millstone to register and remove the contents of the USTs at the property. Thereafter, the Gallikers made written demand of us to investigate and remediate all contamination at the property. We have rejected the Gallikers’ demand on the basis that we are not responsible for the alleged contamination.

MTBE Litigation – State of New Jersey

We are a party to a case involving a large number of gasoline station sites throughout the State of New Jersey brought by various governmental agencies of the State of New Jersey, including the NJDEP. This New Jersey case (the “New Jersey MDL Proceedings”) is among the more than one hundred cases that were transferred from various state and federal courts throughout the country and consolidated in the United States District Court for the Southern District of New York for coordinated Multi-District Litigation (“MDL”) proceedings. The New Jersey MDL Proceedings allege various theories of liability due to contamination of groundwater with methyl tertiary butyl ether (a fuel derived from methanol, commonly referred to as “MTBE”) as the basis for claims seeking compensatory and punitive damages. New Jersey is seeking reimbursement of significant clean-up and remediation costs arising out of the alleged release of MTBE containing gasoline in the State of New Jersey and is asserting various natural resource damage claims as well as liability against the owners and operators of gasoline station properties from which the releases occurred. The New Jersey MDL Proceedings name us as a defendant along with approximately 50 petroleum refiners, manufacturers, distributors and retailers of MTBE, or gasoline containing MTBE, including Atlantic Richfield Company, BP America, Inc., BP Amoco Chemical Company, BP Products North America, Inc., Chevron Corporation, Chevron U.S.A., Inc., Citgo Petroleum Corporation, ConocoPhillips Company, Cumberland Farms, Inc., Duke Energy Merchants, LLC, ExxonMobil Corporation, ExxonMobil Oil Corporation, Getty Petroleum Marketing, Inc., Gulf Oil Limited Partnership, Hess Corporation, Lyondell Chemical Company, Lyondell-Citgo Refining, LP, Lukoil Americas Corporation, Marathon Oil Corporation, Mobil Corporation, Motiva Enterprises, LLC, Shell Oil Company, Shell Oil Products Company LLC, Sunoco, Inc., Unocal Corporation, Valero Energy Corporation, and Valero Refining & Marketing Company. The majority of the named defendants have already settled the case against them. The remaining cases have been transferred to the United States District Court for the District of New Jersey for pre-trial proceedings and trial, although a trial date has not yet been set. We continue to engage in settlement negotiations and a dialogue with the plaintiff’s counsel to educate them on the unique role of the Company and our business as compared to other defendants in the litigation. Although the ultimate outcome of the New Jersey MDL Proceedings cannot be ascertained at this time, we believe it is probable that this litigation will be resolved in a manner that is unfavorable to us. We are unable to estimate the range of loss in excess of the amount accrued with certainty for the New Jersey MDL Proceedings as we do not believe that plaintiffs’ settlement proposal is realistic and there remains uncertainty as to the allegations in this case as they relate to us, our defenses to the claims, our rights to indemnification or contribution from other parties and the aggregate possible amount of damages for which we may be held liable. It is possible that losses related to the New Jersey MDL Proceedings in excess of the amounts accrued as of December 31, 2016, could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

MTBE Litigation – State of Pennsylvania

On July 7, 2014, our subsidiary, Getty Properties Corp., was served with a complaint filed by the Commonwealth of Pennsylvania (the “State”) in the Court of Common Pleas, Philadelphia County relating to alleged statewide MTBE contamination in Pennsylvania (the “Complaint”). The named plaintiffs are the State, by and through (then) Pennsylvania Attorney General Kathleen G. Kane (as Trustee of the waters of the State), the Pennsylvania Insurance Department (which governs and administers the

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Underground Storage Tank Indemnification Fund), the Pennsylvania Department of Environmental Protection (vested with the authority to protect the environment) and the Pennsylvania Underground Storage Tank Indemnification Fund. The Complaint names us and more than 50 other defendants, including Exxon Mobil, various BP entities, Chevron, Citgo, Gulf, Lukoil Americas, Getty Petroleum Marketing Inc., Marathon, Hess, Shell Oil, Texaco, Valero, as well as other smaller petroleum refiners, manufacturers, distributors and retailers of MTBE or gasoline containing MTBE who are alleged to have distributed, stored and sold MTBE gasoline in Pennsylvania. The Complaint seeks compensation for natural resource damages and for injuries sustained as a result of “defendants’ unfair and deceptive trade practices and act in the marketing of MTBE and gasoline containing MTBE.” The plaintiffs also seek to recover costs paid or incurred by the State to detect, treat and remediate MTBE from public and private water wells and groundwater. The plaintiffs assert causes of action against all defendants based on multiple theories, including strict liability – defective design; strict liability – failure to warn; public nuisance; negligence; trespass; and violation of consumer protection law.

The case was filed in the Court of Common Pleas, Philadelphia County, but was removed by defendants to the United States District Court for the Eastern District of Pennsylvania and then transferred to the United States District Court for the Southern District of New York so that it may be managed as part of the ongoing MTBE MDL. Plaintiffs have recently filed a Second Amended Complaint naming additional defendants and adding factual allegations intended to bolster their claims against the defendants. We have joined with other defendants in the filing of a motion to dismiss the claims against us. This motion is pending with the Court. We intend to defend vigorously the claims made against us. Our ultimate liability, if any, in this proceeding is uncertain and subject to numerous contingencies which cannot be predicted and the outcome of which are not yet known.

Matters related to our former Newark, New Jersey Terminal and the Lower Passaic River

In September 2003, we received a directive (the “Directive”) issued by the NJDEP under the New Jersey Spill Compensation and Control Act. The Directive indicated that we are one of approximately 66 potentially responsible parties for alleged natural resource damages resulting from the discharges of hazardous substances along the lower Passaic River (the “Lower Passaic River”). Other named recipients of the Directive are 360 North Pastoria Environmental Corporation, Amerada Hess Corporation, American Modern Metals Corporation, Apollo Development and Land Corporation, Ashland Inc., AT&T Corporation, Atlantic Richfield Assessment Company, Bayer Corporation, Benjamin Moore & Company, Bristol Myers-Squibb, Chemical Land Holdings, Inc., Chevron Texaco Corporation, Diamond Alkali Company, Diamond Shamrock Chemicals Company, Diamond Shamrock Corporation, Dilorenzo Properties Company, Dilorenzo Properties, L.P., Drum Service of Newark, Inc., E.I. Dupont De Nemours and Company, Eastman Kodak Company, Elf Sanofi, S.A., Fine Organics Corporation, Franklin-Burlington Plastics, Inc., Franklin Plastics Corporation, Freedom Chemical Company, H.D. Acquisition Corporation, Hexcel Corporation, Hilton Davis Chemical Company, Kearny Industrial Associates, L.P., Lucent Technologies, Inc., Marshall Clark Manufacturing Corporation, Maxus Energy Corporation, Monsanto Company, Motor Carrier Services Corporation, Nappwood Land Corporation, Noveon Hilton Davis Inc., Occidental Chemical Corporation, Occidental Electro-Chemicals Corporation, Occidental Petroleum Corporation, Oxy-Diamond Alkali Corporation, Pitt-Consol Chemical Company, Plastics Manufacturing Corporation, PMC Global Inc., Propane Power Corporation, Public Service Electric & Gas Company, Public Service Enterprise Group, Inc., Purdue Pharma Technologies, Inc., RTC Properties, Inc., S&A Realty Corporation, Safety-Kleen Envirosystems Company, Sanofi S.A., SDI Divestiture Corporation, Sherwin Williams Company, SmithKline Beecham Corporation, Spartech Corporation, Stanley Works Corporation, Sterling Winthrop, Inc., STWB Inc., Texaco Inc., Texaco Refining and Marketing Inc., Thomasset Colors, Inc., Tierra Solution, Incorporated, Tierra Solutions, Inc., and Wilson Five Corporation.

The Directive provides, among other things, that the named recipients must conduct an assessment of the natural resources that have been injured by discharges into the Lower Passaic River and must implement interim compensatory restoration for the injured natural resources. The NJDEP alleges that our liability arises from alleged discharges originating from our former Newark, New Jersey Terminal site (which was sold in October 2013). We responded to the Directive by asserting that we are not liable. There has been no material activity and/or communications by the NJDEP with respect to the Directive since early after its issuance.

In May 2007, the United States Environmental Protection Agency (“EPA”) entered into an Administrative Settlement Agreement and Order on Consent (“AOC”) with over 70 parties to perform a Remedial Investigation and Feasibility Study (“RI/FS”) for a 17-mile stretch of the Lower Passaic River in New Jersey. The RI/FS is intended to address the investigation and evaluation of alternative remedial actions with respect to alleged damages to the Lower Passaic River. Most of the parties to the AOC, including us, are also members of a Cooperating Parties Group (“CPG”). The CPG agreed to an interim allocation formula for purposes of allocating the costs to complete the RI/FS among its members, with the understanding that this agreed-upon allocation formula is not binding on the parties in terms of any potential liability for the costs to remediate the Lower Passaic River. The CPG submitted to the EPA its draft RI/FS in 2015. The draft RI/FS set forth various alternatives for remediating the entire 17-mile stretch of the Lower Passaic River, and provides that cost estimate for the preferred remedial action presented therein is in the range of approximately $483 million to $725 million. The EPA has provided comments to the draft RI/FS to the CPG, some of which require proposed additional work to finalize the RI/FS. The CPG is evaluating the EPA’s comments and engaging the EPA in discussions to address the EPA’s comments and to determine a schedule for the completion of the RI/FS.

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In addition to the RI/FS activities, other actions relating to the investigation and/or remediation of the Lower Passaic River have proceeded as follows. First, in June 2012, certain members of the CPG entered into an Administrative Settlement Agreement and Order on Consent (“10.9 AOC”) effective June 18, 2012, to perform certain remediation activities, including removal and capping of sediments at the river mile 10.9 area and certain testing. The EPA also issued a Unilateral Order to Occidental Chemical Corporation (“Occidental”) directing Occidental to participate and contribute to the cost of the river mile 10.9 work. Concurrent with the CPG’s work on the RI/FS, on April 11, 2014, the EPA issued a draft Focused Feasibility Study (“FFS”) with proposed remedial alternatives to remediate the lower 8-miles of the 17-mile stretch of the Lower Passaic River. The FFS was subject to public comments and objections and, on March 4, 2016, the EPA issued its Record of Decision (“ROD”) for the lower 8-miles selecting a remedy that involves bank-to-bank dredging and installing an engineered cap with an estimated cost of $1.38 billion. On March 31, 2016, we and more than 100 other potentially responsible parties received from the EPA a “Notice of Potential Liability and Commencement of Negotiations for Remedial Design” (“Notice”), which informed the recipients that the EPA intends to seek an Administrative Order on Consent and Settlement Agreement with Occidental for remedial design of the remedy selected in the ROD, after which the EPA plans to begin negotiations with “major” potentially responsible parties for implementation and/or payment of the selected remedy. The Notice also stated that the EPA believes that some of the potentially responsible parties and other parties not yet identified as potentially responsible parties will be eligible for a cash out settlement with the EPA. On October 5, 2016, the EPA announced that it had entered into a settlement agreement with Occidental which requires that Occidental perform the remedial design (which is expected to take four years to complete) for the remedy selected for the lower 8-miles of the Lower Passaic River.

On June 16, 2016, Maxus Energy Corporation and Tierra Solutions, Inc., who have contractual liability to Occidental for Occidental’s potential liability related to the Lower Passaic River, filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. In the Chapter 11 proceedings, YPF SA, Maxus and Tierra’s corporate parent, sought bankruptcy approval of a settlement under which YPF would pay $130 million to the bankruptcy estate in exchange for a release in favor of Maxus, Tierra, YPF and YPF’s affiliates of Maxus and Tierra’s contractual environmental liability to Occidental. We and the CPG filed proofs of claims for costs incurred by the CPG relating to the lower Passaic River, although we believe that Occidental is ultimately liable for any costs asserted in the proof of claims that are not satisfied in the bankruptcy. The CPG is a member of the creditors committee and continues to evaluate any action taken in the proceedings that could have a potential impact on the CPG as it relates to the ultimate allocation of liability for remediation of the lower Passaic River. We currently do not anticipate that the bankruptcy filing by Maxus and Tierra will affect our ultimate liability, if any, for clean-up costs related to the Lower Passaic River, however we (through the CPG and independently) will monitor the bankruptcy proceedings for any potential impact.

Many uncertainties remain regarding how the EPA intends to implement the ROD. We anticipate that performance of the EPA’s selected remedy will be subject to future negotiation, potential enforcement proceedings and/or possible litigation. The RI/FS, AOC and 10.9 AOC and Notice do not obligate us to fund or perform remedial action contemplated by either the ROD or RI/FS and do not resolve liability issues for remedial work or the restoration of or compensation for alleged natural resource damages to the Lower Passaic River, which are not known at this time. Our ultimate liability, if any, in the pending and possible future proceedings pertaining to the Lower Passaic River is uncertain and subject to numerous contingencies which cannot be predicted and the outcome of which are not yet known.

We have made a demand upon Chevron/Texaco for indemnity under certain agreements between us and Chevron/Texaco that allocate environmental liabilities for the Newark Terminal site between the parties. In response, Chevron/Texaco has asserted that the proceedings and claims are still not yet developed enough to determine the extent to which indemnities apply. We have engaged in discussions with Chevron/Texaco regarding our demands for indemnification. To facilitate these discussions, in October 2009, the parties entered into a Tolling/Standstill Agreement which tolls all claims by and among Chevron/Texaco and us that relate to the various Lower Passaic River matters, until either party terminates such Tolling/Standstill Agreement.

Lukoil Americas Case

In March 2016, we filed a civil lawsuit in the New York State Supreme Court, New York County, against Lukoil Americas Corporation and certain of its current or former executives, seeking recovery of environmental remediation costs that we have either incurred, or expect to incur, at properties previously leased to Marketing pursuant to the Master Lease. The lawsuit alleges various theories of liability, including claims based on environmental liability statutes in effect in the states in which the properties are located, claims seeking to pierce Marketing’s corporate veil, negligence claims and tortious interference claims. Lukoil Americas Corporation and the other defendants moved to dismiss our complaint. A decision from the Court on that motion has not yet been issued. This case is at an early stage of its proceedings. It is not possible to predict or estimate the potential outcome of this case.

Item 4. Mine Safety Disclosures

None.

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PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Capital Stock

Our common stock is traded on the New York Stock Exchange (symbol: “GTY”). There were approximately 11,130 beneficial holders of our common stock as of March 2, 2017, of which approximately 978 were holders of record. The price range of our common stock and cash dividends declared with respect to each share of common stock during the years ended December 31, 2016 and 2015 was as follows:

	PRICE RANGE				CASH DIVIDENDS
QUARTER ENDED	HIGH		LOW		PER SHARE
March 31, 2015		19.30		17.03		.2200
June 30, 2015		18.59		16.29		.2200
September 30, 2015		17.10		15.16		.2400
December 31, 2015		17.87		15.67		.4700	(a)
March 31, 2016		19.97		16.21		.2500
June 30, 2016		21.54		19.44		.2500
September 30, 2016		24.33		21.27		.2500
December 31, 2016		25.63		21.71		.2800

(a) Includes a $0.22 per share special dividend declared in the quarter ended December 31, 2015.

For a discussion of potential limitations on our ability to pay future dividends see “Item 1A. Risk Factors – We may change our dividend policy and the dividends we pay may be subject to significant volatility” and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources”.

Issuer Purchases of Equity Securities

None.

Sales of Unregistered Securities

None.

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Stock Performance Graph

Comparison of Five-Year Cumulative Total Return*

Source: SNL Financial

	12/31/2011		12/31/2012		12/31/2013		12/31/2014		12/31/2015		12/31/2016
Getty Realty Corp.		100.00		132.20		140.42		146.66		147.67		229.90
Standard & Poors 500		100.00		116.00		153.57		174.60		177.01		198.18
Old Peer Group		100.00		116.91		126.95		164.12		171.49		209.80
New Peer Group		100.00		119.25		128.65		155.90		167.00		203.35

Assumes $100 invested at the close of the last day of trading on the New York Stock Exchange on December 31, 2011 in Getty Realty Corp. common stock, Standard & Poors 500 and Peer Group.

* Cumulative total return assumes reinvestment of dividends.

The above performance graph compares the performance of our common stock during the period beginning December 31, 2011, and ending December 31, 2016, to: (i) the Standard & Poor’s 500, (ii) a peer group for the year ending December 31, 2015 (“Old Peer Group”) and (iii) a peer group for the year ending December 31, 2016 (“New Peer Group”). The Old Peer Group consists of the following companies: EPR Properties (formerly known as Entertainment Properties Trust), Hospitality Properties Trust, National Retail Properties and Realty Income Corporation. From time to time we review the companies included our peer group and add or remove companies as necessary to ensure that our peer group consists of companies that are reasonably comparable to the Company. The changes in our New Peer Group compared to our Old Peer Group were to add Agree Realty Corporation, Spirit Realty Capital, Inc. and STORE Capital Corporation and remove Hospitality Properties Trust. Our New Peer Group, therefore, consists of the following companies: Agree Realty Corporation, EPR Properties (formerly known as Entertainment Properties Trust), National Retail Properties, Realty Income Corporation, Spirit Realty Capital, Inc. and STORE Capital Corporation. As reconstituted, our New Peer Group more accurately reflects our internally-managed structure and market capitalization and continues to include companies where a substantial segment of each of their businesses is owning and leasing commercial properties. We cannot assure you that our stock performance will continue in the future with the same or similar trends depicted in the performance graph above. We do not make or endorse any predictions as to future stock performance.

The above performance graph and related information shall not be deemed filed for the purposes of Section 18 of the Exchange Act or otherwise subject to the liability of that Section and shall not be deemed to be incorporated by reference into any filing that we make under the Securities Act or the Exchange Act.

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Item 6. Selected Financial Data

GETTY REALTY CORP. AND SUBSIDIARIES

SELECTED FINANCIAL DATA

(in thousands, except per share amounts and number of properties)

	FOR THE YEARS ENDED DECEMBER 31,
	2016(a)			2015(b)			2014(c)			2013(d)			2012(e)
OPERATING DATA:
Total revenues	$	115,266		$	110,733		$	99,893		$	102,818		$	96,122
Earnings from continuing operations		42,081			40,370			20,405			27,376			13,728
(Loss) earnings from discontinued operations		(3,670	)		(2,960	)		3,013			42,635			(1,281	)
Net earnings		38,411			37,410			23,418			70,011			12,447
Basic and diluted per share amounts:
Earnings from continuing operations		1.23			1.20			0.60			0.81			0.41
Net earnings		1.12			1.11			0.69			2.08			0.37
Basic and diluted weighted average common shares outstanding		33,806			33,420			33,409			33,397			33,395
Dividends declared per share (f)		1.03			1.15			0.96			0.85			0.375
FUNDS FROM OPERATIONS AND ADJUSTED FUNDS FROM OPERATIONS (g):
Net earnings		38,411			37,410			23,418			70,011			12,447
Depreciation and amortization		19,170			16,974			10,549			9,927			13,700
Gains on dispositions of real estate		(6,213	)		(2,611	)		(10,218	)		(45,505	)		(6,866	)
Impairments		12,814			17,361			21,534			13,425			13,942
Funds from operations		64,182			69,134			45,283			47,858			33,223
Revenue recognition adjustments		(3,417	)		(4,471	)		(5,372	)		(8,379	)		(4,433	)
Allowance for deferred rent/mortgage receivables		—			(93	)		2,331			4,775			—
Non-cash changes in environmental estimates		(7,007	)		(4,639	)		(2,756	)		(2,956	)		(4,215	)
Accretion expense		4,107			4,829			3,046			3,214			3,174
Acquisition costs		86			445			104			480			—
Adjusted funds from operations		57,951			65,205			42,636			44,992			27,749
BALANCE SHEET DATA (AT END OF YEAR):
Real estate before accumulated depreciation and amortization	$	782,166		$	783,233		$	595,959		$	570,275		$	562,316
Total assets		877,306			896,918			687,501			682,402			640,581
Total debt		298,544			317,093			124,425			156,017			171,529
Shareholders’ equity		430,918			406,561			407,024			415,091			372,749
NUMBER OF PROPERTIES:
Owned		740			753			757			840			946
Leased		89			98			106			125			135
Total properties		829			851			863			965			1,081

(a) Includes the effect of a $12.8 million impairment charge.

(b) Includes (from the date of the acquisition) the effect of the $214.5 million acquisition of 77 convenience store and gasoline station properties in the United Oil Transaction on June 3, 2015, a $17.4 million impairment charge and $18.2 million of other income received from the Marketing Estate.

(c) Includes the effect of a $2.2 million allowance for deferred rent receivable and a $21.5 million impairment charge.

(d) Includes (from the date of the acquisition) the effect of the $72.5 million acquisition of 16 Mobil-branded and 20 Exxon- and Shell-branded convenience store and gasoline station properties in two sale/leaseback transactions with subsidiaries of Capitol Petroleum Group, LLC on May 9, 2013, $3.1 million of other revenue for the partial recovery of damages received by us from the settlement of the lawsuit filed by the Marketing Estate against Marketing’s former parent and certain of its affiliates, a $15.2 million net credit for bad debt expense primarily related to receiving funds from the Marketing Estate, a $9.6 million increase in provisions for environmental litigation losses, a $4.3 million allowance for deferred rent receivable and a $3.6 million impairment charge.

(e) Includes the effect of a $12.0 million accounts receivable reserve and a $5.1 million impairment charge.

(f) Includes special dividends of $0.22 per share, $0.14 per share and $0.05 per share for the years ended December 31, 2015, 2014 and 2013, respectively.

(g) See “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – General – Supplemental Non-GAAP Measures”.

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Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis should be read in conjunction with the “Cautionary Note Regarding Forward-Looking Statements”; the sections in Part I entitled “Item 1A. Risk Factors”; the selected financial data in Part II entitled “Item 6. Selected Financial Data”; and the consolidated financial statements and related notes in “Item 8. Financial Statements and Supplementary Data”.

GENERAL

Real Estate Investment Trust

We are a real estate investment trust (“REIT”) specializing in the ownership, leasing and financing of convenience store and gasoline station properties. As of December 31, 2016, we owned 740 properties and leased 89 properties from third-party landlords. As a REIT, we are not subject to federal corporate income tax on the taxable income we distribute to our shareholders. In order to continue to qualify for taxation as a REIT, we are required, among other things, to distribute at least 90% of our ordinary taxable income to our shareholders each year.

Our Triple-Net Leases

Substantially all of our properties are leased on a triple-net basis primarily to petroleum distributors, convenience store retailers and, to a lesser extent, to individual operators. Generally, our tenants supply fuel and either operate our properties directly or sublet our properties to operators who operate their convenience stores, gasoline stations, automotive repair service facilities or other businesses at our properties. Our triple-net tenants are generally responsible for the payment of all taxes, maintenance, repairs, insurance and other operating expenses relating to our properties, and are also responsible for environmental contamination occurring during the terms of their leases and in certain cases also for environmental contamination that existed before their leases commenced.

Substantially all of our tenants’ financial results depend on the sale of refined petroleum products, convenience store sales or rental income from their subtenants. As a result, our tenants’ financial results are highly dependent on the performance of the petroleum marketing industry, which is highly competitive and subject to volatility. During the terms of our leases, we monitor the credit quality of our triple-net tenants by reviewing their published credit rating, if available, reviewing publicly available financial statements, or reviewing financial or other operating statements which are delivered to us pursuant to applicable lease agreements, monitoring news reports regarding our tenants and their respective businesses, and monitoring the timeliness of lease payments and the performance of other financial covenants under their leases. For additional information regarding our real estate business, our properties and environmental matters, see “Item 1. Business — Company Operations”, “Item 2. Properties” and “Environmental Matters” below.

Our Properties

Net Lease. As of December 31, 2016, we leased 808 of our properties to tenants under triple-net leases.

Our net lease properties include 724 properties leased to regional and national fuel distributors under 25 separate unitary or master triple-net leases and 84 properties leased under single unit triple-net leases. These leases generally provide for an initial term of 15 to 20 years with options for successive renewal terms of up to 20 years and periodic rent escalations. Several of our leases provide for additional rent based on the aggregate volume of fuel sold. Certain leases require our tenants to invest capital in our properties.

Redevelopment. As of December 31, 2016, we were actively redeveloping six of our former convenience store and gasoline station properties for alternative single-tenant net lease retail uses.

Vacancies. As of December 31, 2016, 15 of our properties were vacant. We expect that we will either sell or enter into new leases on these properties over time.

Investment Strategy and Activity

As part of our overall growth strategy, we regularly review acquisition and financing opportunities to invest in additional convenience store and gasoline station properties, and we expect to continue to pursue investments that we believe will benefit our financial performance. In addition to sale/leaseback and other real estate acquisitions, our investment activities include purchase money financing with respect to properties we sell, and real property loans relating to our leasehold portfolios. Our investment strategy seeks to generate current income and benefit from long-term appreciation in the underlying value of our real estate. To achieve that goal, we seek to invest in high quality individual properties and real estate portfolios that are in strong primary markets that serve high density population centers. A key element of our investment strategy is to invest in properties that will promote our geographic and tenant diversity. We cannot provide any assurance that we will be successful making additional investments, that

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investments which meet our investment criteria will be available or that our current sources of liquidity will be sufficient to fund such investments.

During the year ended December 31, 2016, we acquired fee simple or leasehold interests in three convenience store and gasoline station properties and an adjacent parcel of land to an existing property for a redevelopment project, in separate transactions, for an aggregate purchase price of $7.7 million.

During the year ended December 31, 2015, we acquired fee simple interests in 80 convenience store and gasoline station properties for an aggregate purchase price of $219.2 million. Included in these acquisitions was our June 3, 2015, acquisition of fee simple interests in 77 convenience store and gasoline station properties from affiliates of Pacific Convenience and Fuels LLC and simultaneously leased the properties to Apro, LLC (d/b/a “United Oil”), a leading regional convenience store and gasoline station operator, under three separate cross-defaulted long-term triple-net unitary leases (the “United Oil Transaction”). The United Oil properties are located across California, Colorado, Nevada, Oregon and Washington State and operate under several well recognized brands including 7-Eleven, 76, Circle K, Conoco and My Goods Market. The total purchase price for the acquisition was $214.5 million, which was funded with proceeds from the Credit Agreement and Restated Prudential Note Purchase Agreement. In addition, in 2015, we acquired fee simple interests in three convenience store and gasoline station properties in separate transactions for an aggregate purchase price of $4.7 million.

Redevelopment Strategy and Activity

We believe that a portion of our properties are located in geographic areas, which together with other factors, may make them well-suited for alternative single-tenant net lease retail uses, such as quick service restaurants, automotive parts and service stores, specialty retail stores and bank branch locations. We believe that such alternative types of properties can be leased or sold at higher values than their current use.

For the year ended December 31, 2016, we spent $0.7 million (of which $0.3 million was previously accrued for at December 31, 2015) of construction-in-progress costs related to our redevelopment activities. For the year ended December 31, 2016, we completed one redevelopment project and $1.0 million of construction-in-progress was transferred to buildings and improvements on our consolidated balance sheet.

As of December 31, 2016, we were actively redeveloping six of our former convenience store and gasoline station properties for alternative single-tenant net lease retail uses. In addition, to the six properties currently classified as redevelopment, we are in various stages of feasibility and planning for the recapture of select properties, from our net lease portfolio, that are suitable for redevelopment to alternative single-tenant net lease retail uses. As of December 31, 2016, we have signed leases on seven properties, that are currently part of our net lease portfolio, which will be recaptured and transferred to redevelopment when the appropriate entitlements, permits and approvals have been secured.

Asset Impairment

We perform an impairment analysis for the carrying amount of our properties in accordance with GAAP when indicators of impairment exist. We reduced the carrying amount to fair value, and recorded in continuing and discontinued operations, impairment charges aggregating $12.8 million and $17.4 million for the years ended December 31, 2016 and 2015, respectively, where the carrying amount of the property exceeds the estimated undiscounted cash flows expected to be received during the assumed holding period which includes the estimated sales value expected to be received at disposition. The impairment charges were attributable to the effect of adding asset retirement costs due to changes in estimates associated with our environmental liabilities, which increased the carrying value of certain properties in excess of their fair value, reductions in estimated undiscounted cash flows expected to be received during the assumed holding period for certain of our properties, and reductions in estimated sales prices from third-party offers based on signed contracts, letters of intent or indicative bids for certain of our properties. The evaluation of and estimates of anticipated cash flows used to conduct our impairment analysis are highly subjective and actual results could vary significantly from our estimates.

Supplemental Non-GAAP Measures

We manage our business to enhance the value of our real estate portfolio and, as a REIT, place particular emphasis on minimizing risk, to the extent feasible, and generating cash sufficient to make required distributions to shareholders of at least 90% of our ordinary taxable income each year. In addition to measurements defined by GAAP, we also focus on funds from operations (“FFO”) and adjusted funds from operations (“AFFO”) to measure our performance. FFO is generally considered to be an appropriate supplemental non-GAAP measure of the performance of REITs. FFO is defined by the National Association of Real Estate Investment Trusts as net earnings before depreciation and amortization of real estate assets, gains or losses on dispositions of real estate, impairment charges and cumulative effect of accounting changes. Our definition of AFFO is defined as FFO less Revenue Recognition Adjustments (net of allowances), acquisition costs, non-cash environmental accretion expense and non-cash changes in

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environmental estimates and other unusual items. Other REITs may use definitions of FFO and/or AFFO that are different from ours and, accordingly, may not be comparable.

FFO and AFFO are not in accordance with, or a substitute for, measures prepared in accordance with GAAP. In addition, FFO and AFFO are not based on any comprehensive set of accounting rules or principles. Neither FFO nor AFFO represent cash generated from operating activities calculated in accordance with GAAP and therefore these measures should not be considered an alternative for GAAP net earnings or as a measure of liquidity. These measures should only be used to evaluate our performance in conjunction with corresponding GAAP measures.

We believe that FFO and AFFO are helpful to investors in measuring our performance because both FFO and AFFO exclude various items included in GAAP net earnings that do not relate to, or are not indicative of, our fundamental operating performance. FFO excludes various items such as depreciation and amortization of real estate assets, gains or losses on dispositions of real estate, and impairment charges. In our case, however, GAAP net earnings and FFO typically include the impact of revenue recognition adjustments comprised of deferred rental revenue (straight-line rental revenue), the net amortization of above-market and below-market leases, adjustments recorded for recognition of rental income recognized from direct financing leases on revenues from rental properties and the amortization of deferred lease incentives, as offset by the impact of related collection reserves. Deferred rental revenue results primarily from fixed rental increases scheduled under certain leases with our tenants. In accordance with GAAP, the aggregate minimum rent due over the current term of these leases is recognized on a straight-line basis rather than when payment is contractually due. The present value of the difference between the fair market rent and the contractual rent for in-place leases at the time properties are acquired is amortized into revenues from rental properties over the remaining lives of the in-place leases. Income from direct financing leases is recognized over the lease terms using the effective interest method which produces a constant periodic rate of return on the net investments in the leased properties. The amortization of deferred lease incentives represents our funding commitment in certain leases, which deferred expense is recognized on a straight-line basis as a reduction of rental revenue. GAAP net earnings and FFO also include non-cash environmental accretion expense and non-cash changes in environmental estimates, which do not impact our recurring cash flow. GAAP net earnings and FFO from time to time may also include property acquisition costs or other unusual items. Property acquisition costs are expensed, generally in the period when properties are acquired, and are not reflective of recurring operations. Other unusual items are not reflective of recurring operations.

We pay particular attention to AFFO, a supplemental non-GAAP performance measure that we believe best represents our recurring financial performance. In our view, AFFO provides a more accurate depiction than FFO of our fundamental operating performance as AFFO removes non-cash revenue recognition adjustments related to: (i) scheduled rent increases from operating leases, net of related collection reserves; (ii) the rental revenue earned from acquired in-place leases; (iii) rent due from direct financing leases; and (iv) the amortization of deferred lease incentives. Our definition of AFFO also excludes non-cash, or non-recurring items such as: (i) environmental accretion expense and changes in environmental estimates; (ii) costs expensed related to property acquisitions; and (iii) other unusual items. By providing AFFO, we believe we are presenting useful information that assists investors and analysts to better assess the sustainability of our operating performance. Further, we believe AFFO is useful in comparing the sustainability of our operating performance with the sustainability of the operating performance of other real estate companies.

RESULTS OF OPERATIONS

Year ended December 31, 2016, compared to year ended December 31, 2015

Revenues from rental properties included in continuing operations increased by $5.0 million to $97.9 million for the year ended December 31, 2016, as compared to $92.9 million for the year ended December 31, 2015. The increase in revenues from rental properties was primarily due to $7.4 million of revenue from the properties acquired in the United Oil Transaction, which closed on June 3, 2015, partially offset by a decrease of $1.1 million of Revenue Recognition Adjustments. Rental income contractually due or received from our tenants included in revenues from rental properties in continuing operations was $94.5 million for the year ended December 31, 2016, as compared to $88.4 million for the year ended December 31, 2015. Tenant reimbursements, which consist of real estate taxes and other municipal charges paid by us which are reimbursable by our tenants pursuant to the terms of triple-net lease agreements, included in continuing operations totaled $13.8 million and $14.1 million for the years ended December 31, 2016 and 2015, respectively. Interest income on notes and mortgages receivable was $3.5 million for the year ended December 31, 2016, as compared to $3.7 million for the year ended December 31, 2015.

In accordance with GAAP, we recognize revenues from rental properties in amounts which vary from the amount of rent contractually due or received during the periods presented. As a result, revenues from rental properties include Revenue Recognition Adjustments comprised of non-cash adjustments recorded for deferred rental revenue due to the recognition of rental income on a straight-line basis over the current lease term, the net amortization of above-market and below-market leases, recognition of rental income under direct financing leases using the effective interest rate method which produces a constant periodic rate of return on the net investments in the leased properties and the amortization of deferred lease incentives. Revenues from rental properties included in

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continuing operations includes Revenue Recognition Adjustments which increased rental revenue by $3.4 million for the year ended December 31, 2016, and $4.5 million for the year ended December 31, 2015.

Property costs included in continuing operations, which are primarily comprised of rent expense, real estate and other state and local taxes, municipal charges, maintenance expense and reimbursable tenant expenses, were $22.7 million for the year ended December 31, 2016, as compared to $23.6 million for the year ended December 31, 2015. The decrease in property costs for the year ended December 31, 2016, was principally due to a decrease in reimbursable tenant expenses and real estate taxes paid by us.

Impairment charges included in continuing operations were $6.9 million for the year ended December 31, 2016, as compared to $11.6 million for the year ended December 31, 2015. Impairment charges are recorded when the carrying value of a property is reduced to fair value. Impairment charges in continuing operations for the years ended December 31, 2016 and 2015, were primarily attributable to the effect of adding asset retirement costs due to changes in estimates associated with our environmental liabilities, which increased the carrying value of certain properties in excess of their fair value, and reductions in estimated undiscounted cash flows expected to be received during the assumed holding period for certain of our properties.

Environmental expenses included in continuing operations for the year ended December 31, 2016, decreased by $3.6 million to $2.6 million, as compared to $6.2 million for the year ended December 31, 2015. The decrease in environmental expenses for the year ended December 31, 2016, was principally due to a $3.4 million decrease in environmental remediation costs and a $0.7 million decrease in professional fees offset by a $0.5 million increase in litigation losses and legal fees. Environmental expenses vary from period to period and, accordingly, undue reliance should not be placed on the magnitude or the direction of change in reported environmental expenses for one period, as compared to prior periods.

General and administrative expenses included in continuing operations decreased by $2.7 million to $14.2 million for the year ended December 31, 2016, as compared to $16.9 million for the year ended December 31, 2015. The decrease in general and administrative expenses for the year ended December 31, 2016, was principally due to a $2.6 million decline in legal and professional fees and a $0.3 million decrease of non-recurring employee related expenses predominantly due to reductions in severance and retirement costs.

Recoveries and allowances for uncollectible accounts included in continuing operations decreased by $1.5 million to a recovery of $0.4 million for the year ended December 31, 2016, as compared to an allowance of $1.1 million for the year ended December 31, 2015. The recoveries from uncollectible accounts were principally due to reversals of previously provided bad debt reserves associated with receiving past due rent from our tenants.

Depreciation and amortization expense included in continuing operations was $19.2 million for the year ended December 31, 2016, as compared to $17.0 million for the year ended December 31, 2015. The increase was primarily due to depreciation charges related to asset retirement costs and properties acquired offset by the effect of certain assets becoming fully depreciated, lease terminations and dispositions of real estate.

Gains on dispositions of real estate included in continuing operations were $6.4 million for the year ended December 31, 2016, as compared to $2.3 million for the year ended December 31, 2015. The gains were the result of the sale of 12 and 70 properties during the years ended December 31, 2016 and 2015, respectively, which did not previously meet the criteria to be held for sale. For the year ended December 31, 2016, the gains were primarily the result of the full recognition of the remaining deferred gain of $3.9 million resulting from the repayment of the entire seller financing mortgage by Ramoco affiliates and the sale of 12 properties.

Other income, net included in continuing operations was $2.0 million for the year ended December 31, 2016, as compared to $18.3 million for the year ended December 31, 2015. For the year ended December 31, 2015, other income was the result of distributions we received from the Marketing Estate of $18.2 million.

Interest expense was $16.6 million for the year ended December 31, 2016, as compared to $14.5 million for the year ended December 31, 2015. The increase for the year ended December 31, 2016, was due to higher average borrowings outstanding and the incurrence of new indebtedness required to fund the United Oil Transaction.

We reported as discontinued operations the results of two properties accounted for as held for sale in accordance with GAAP as of December 31, 2016, and certain properties disposed of during the periods presented that were previously classified as held for sale. Loss from discontinued operations increased by $0.7 million to a loss of $3.7 million for the year ended December 31, 2016, as compared to a loss of $3.0 million for the year ended December 31, 2015. The change was primarily due to lower gains on dispositions of real estate and an increase in loss from operating activities in discontinued operations. Loss on dispositions of real estate included in discontinued operations was $0.2 million for the year ended December 31, 2016, as compared to a gain of $0.3 million for the year ended December 31, 2015. For the years ended December 31, 2016 and 2015, there were two and 14 property dispositions, respectively, recorded in discontinued operations. Impairment charges recorded in discontinued operations during the years ended December 31, 2016 and 2015, of $5.9 million and $5.8 million, respectively, were attributable to reductions in our estimates of value for properties held for sale and the accumulation of asset retirement costs as a result of increases in estimated environmental liabilities which increased the carrying value of certain properties above their fair value. Gains on disposition of real

29

estate and impairment charges vary from period to period and, accordingly, undue reliance should not be placed on the magnitude or the directions of change in reported gains and impairment charges for one period, as compared to prior periods.

For the year ended December 31, 2016, FFO decreased by $4.9 million to $64.2 million, as compared to $69.1 million for the year ended December 31, 2015, and AFFO decreased by $7.2 million to $58.0 million, as compared to $65.2 million for the prior year. FFO and AFFO include the effect of $18.2 million received from the Marketing Estate in 2015, which is included in other income on our consolidated statements of operations. In addition, the decrease in FFO for the year ended December 31, 2016, was due to the changes in net earnings but excludes a $4.6 million decrease in impairment charges, a $2.2 million increase in depreciation and amortization expense and a $3.6 million increase in gains on dispositions of real estate. The decrease in AFFO for the year ended December 31, 2016, also excludes a $0.1 million decrease in the allowance for deferred rent receivable, a $3.1 million increase in non-cash environmental expenses and credits, a $0.3 million decrease in acquisition costs and a $1.1 million decrease in Revenue Recognition Adjustments which cause our reported revenues from rental properties to vary from the amount of rent payments contractually due or received by us during the periods presented (which are included in net earnings and FFO but are excluded from AFFO).

Basic and diluted earnings per share was $1.12 per share for the year ended December 31, 2016, as compared to $1.11 per share for the year ended December 31, 2015. Basic and diluted FFO per share for the year ended December 31, 2016, was $1.87 per share, as compared to $2.04 per share for the year ended December 31, 2015. Basic and diluted AFFO per share for the year ended December 31, 2016, was $1.69 per share, as compared to $1.93 per share for the year ended December 31, 2015.

Year ended December 31, 2015, compared to year ended December 31, 2014

Revenues from rental properties included in continuing operations increased by $9.9 million to $92.9 million for the year ended December 31, 2015, as compared to $83.0 million for the year ended December 31, 2014. The increase in total revenues for the year ended December 31, 2015, was primarily due to $10.2 million of revenue from the properties acquired in the United Oil Transaction, which closed in June 3, 2015. Rental income contractually due or received from our tenants included in revenues from rental properties in continuing operations was $88.4 million for the year ended December 31, 2015, as compared to $77.7 million for the year ended December 31, 2014. Tenant reimbursements, which consist of real estate taxes and other municipal charges paid by us and reimbursable by our tenants pursuant to their triple-net lease agreements, included in continuing operations totaled $14.1 million and $13.8 million for the years ended December 31, 2015 and 2014, respectively. Interest income on notes and mortgages receivable was $3.7 million for the year ended December 31, 2015, as compared to $3.1 million for the year ended December 31, 2014.

In accordance with GAAP, we recognize revenues from rental properties in amounts which vary from the amount of rent contractually due or received during the periods presented. As a result, revenues from rental properties include Revenue Recognition Adjustments comprised of non-cash adjustments recorded for deferred rental revenue due to the recognition of rental income on a straight-line basis over the current lease term, the net amortization of above-market and below-market leases, recognition of rental income under direct financing leases using the effective interest rate method which produces a constant periodic rate of return on the net investments in the leased properties and the amortization of deferred lease incentives. Revenues from rental properties included in continuing operations includes Revenue Recognition Adjustments which increased rental revenue by $4.5 million for the year ended December 31, 2015, and $5.3 million for the year ended December 31, 2014.

Property costs included in continuing operations, which are primarily comprised of rent expense, real estate and other state and local taxes, municipal charges, maintenance expense and reimbursable tenant expenses, were $23.6 million for the year ended December 31, 2015, as compared to $23.8 million for the year ended December 31, 2014. The decrease in property costs is principally due to declines in rent expense and maintenance expenses, offset by an increase in reimbursable tenant expenses paid by us.

Impairment charges included in continuing operations were $11.6 million for the year ended December 31, 2015, as compared to $12.9 million for the year ended December 31, 2014. Impairment charges are recorded when the carrying value of a property is reduced to fair value. Impairment charges in continuing operations for the years ended December 31, 2015 and 2014, were primarily attributable to the effect of adding asset retirement costs due to changes in estimates associated with our environmental liabilities, which increased the carrying value of certain properties in excess of their fair value, and reductions in estimated undiscounted cash flows expected to be received during the assumed holding period for certain of our properties.

Environmental expenses included in continuing operations for the year ended December 31, 2015, increased by $1.6 million to $6.2 million, as compared to $4.6 million for the year ended December 31, 2014. The increase in environmental expenses for the year ended December 31, 2015, was principally due to a $0.5 million increase in litigation losses and legal fees and a $1.1 million increase in environmental remediation costs. Environmental expenses vary from period to period and, accordingly, undue reliance should not be placed on the magnitude or the direction of change in reported environmental expenses for one period, as compared to prior periods.

General and administrative expenses included in continuing operations increased by $1.1 million to $16.9 million for the year ended December 31, 2015, as compared to $15.8 million for the year ended December 31, 2014. The increase in general and

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administrative expenses for the year ended December 31, 2015, was principally due to $1.1 million of non-recurring employee related expenses attributable to severance and retirement costs.

Recoveries and allowances for uncollectible accounts included in continuing operations was an allowance $1.1 million for the year ended December 31, 2015, as compared to an allowance of $3.4 million for the year ended December 31, 2014. The decrease in allowance for uncollectible accounts was principally due to $2.1 million in allowances for deferred rent receivable related to the NECG Lease and Ramoco Lease recorded for the year ended December 31, 2014.

Depreciation and amortization expense included in continuing operations was $17.0 million for the year ended December 31, 2015, as compared to $10.5 million for the year ended December 31, 2014. The increase was primarily due to depreciation charges related to asset retirement costs and properties acquired offset by the effect of certain assets becoming fully depreciated, lease terminations and dispositions of real estate.

Gains on dispositions of real estate included in continuing operations were $2.3 million for the year ended December 31, 2015, as compared to $1.2 million for the year ended December 31, 2014. The gains were the result of the sale of 70 properties and four properties during the years ended December 31, 2015 and 2014, respectively, which did not previously meet the criteria to be held for sale. In addition, we recorded a deferred gain of $3.9 million related to the Ramoco sale during the year ended December 31, 2015. The deferred gain is recorded in accounts payable and accrued liabilities on our balance sheet at December 31, 2015.

Other income, net included in earnings from continuing operations was $18.3 million for the year ended December 31, 2015, as compared to $0.1 million for the year ended December 31, 2014. For the year ended December 31, 2015, other income was the result of distributions we received from the Marketing Estate of $18.2 million.

Interest expense was $14.5 million for the year ended December 31, 2015, as compared to $9.8 million for the year ended December 31, 2014. The increase for the year ended December 31, 2015, was due to higher average borrowings outstanding and the incurrence of new indebtedness required to fund the United Oil Transaction.

We reported as discontinued operations the results of five properties accounted for as held for sale in accordance with GAAP as of December 31, 2015, and certain properties disposed of during the periods presented that were previously classified as held for sale. Earnings from discontinued operations decreased by $6.0 million to a loss of $3.0 million for the year ended December 31, 2015, as compared to earnings of $3.0 million for the year ended December 31, 2014. The decrease in earnings was primarily due to lower gains on dispositions of real estate offset by a decrease in loss from operating activities in discontinued operations. Gains on dispositions of real estate included in discontinued operations were $0.3 million for the year ended December 31, 2015, and $9.0 million for the year ended December 31, 2014. For the year ended December 31, 2015, there were 14 property dispositions recorded in discontinued operations. For the year ended December 31, 2014, there were 89 property dispositions recorded in discontinued operations. Impairment charges recorded in discontinued operations during the years ended December 31, 2015 and 2014, of $5.8 million and $8.6 million, respectively, were attributable to reductions in our estimates of value for properties held for sale and the accumulation of asset retirement costs due to changes in estimates associated with our estimated environmental liabilities which increased the carrying value of certain properties above their fair value. Gains on disposition of real estate and impairment charges vary from period to period and, accordingly, undue reliance should not be placed on the magnitude or the directions of change in reported gains and impairment charges for one period, as compared to prior periods.

For the year ended December 31, 2015, FFO increased by $23.8 million to $69.1 million, as compared to $45.3 million for the year ended December 31, 2014, and AFFO increased by $22.6 million to $65.2 million, as compared to $42.6 million for the prior year. FFO and AFFO include the effect of $18.2 million received from the Marketing Estate in 2015, which is included in other income on our consolidated statements of operations. In addition, the increase in FFO for the year ended December 31, 2015, was due to the changes in net earnings but excludes a $4.1 million decrease in impairment charges, a $6.5 million increase in depreciation and amortization expense and a $7.6 million decrease in gains on dispositions of real estate. The increase in AFFO for the year ended December 31, 2015, also excludes a $2.4 million decrease in the allowance for deferred rent and mortgages receivables, a $0.1 million decrease in non-cash environmental expenses and credits, a $0.3 million increase in acquisition costs and a $0.9 million decrease in Revenue Recognition Adjustments which cause our reported revenues from rental properties to vary from the amount of rent payments contractually due or received by us during the periods presented (which are included in net earnings and FFO but are excluded from AFFO).

Basic and diluted earnings per share was $1.11 per share for the year ended December 31, 2015, as compared to $0.69 per share for the year ended December 31, 2014. Basic and diluted FFO per share for the year ended December 31, 2015, was $2.04 per share, as compared to $1.34 per share for the year ended December 31, 2014. Basic and diluted AFFO per share for the year ended December 31, 2015, was $1.93 per share, as compared to $1.26 per share for the year ended December 31, 2014.

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LIQUIDITY AND CAPITAL RESOURCES

Our principal sources of liquidity are the cash flows from our operations, funds available under our Credit Agreement that matures in June 2018 (described below) and available cash and cash equivalents. Our business operations and liquidity are dependent on our ability to generate cash flow from our properties. We believe that our operating cash needs for the next twelve months can be met by cash flows from operations, borrowings under our Credit Agreement and available cash and cash equivalents.

Our cash flow activities for the years ended December 31, 2016, 2015 and 2014 are summarized as follows (in thousands):

	YEAR ENDED DECEMBER 31,
	2016			2015			2014
Net cash flow provided by operating activities	$	36,874		$	49,688		$	29,237
Net cash flow provided by/(used in) investing activities		12,718			(204,724	)		23,505
Net cash flow (used in)/provided by financing activities	$	(41,011	)	$	155,867		$	(61,666	)

Operating Activities

Net cash flow from operating activities decreased by $12.8 million for the year ended December 31, 2016, to $36.9 million, as compared to $49.7 million for the year ended December 31, 2015. The decrease in net cash flow from operating activities for the year ended December 31, 2016, was primarily the result of the receipt of $18.2 million from the Marketing Estate in 2015, offset by the full year operating results of the United Oil Transaction. Net cash provided by operating activities represents cash received primarily from rental income and interest income less cash used for property costs, environmental expenses, interest expense and general and administrative expenses. The change in net cash flow provided by operating activities for the years ended December 31, 2016, 2015 and 2014, is primarily the result of changes in revenues and expenses as discussed in “Results of Operations” above.

Investing Activities

Our investing activities are primarily real estate-related transactions. Since we generally lease our properties on a triple-net basis, we have not historically incurred significant capital expenditures other than those related to investments in real estate. Net cash flow from investing activities increased by $217.4 million for the year ended December 31, 2016, to $12.7 million, as compared to net cash flow used by investing activities of $204.7 million for the year ended December 31, 2015. The increase in net cash flow from investing activities for the year ended December 31, 2016, was primarily due to a decrease of $211.5 million in expenditures primarily related to the United Oil Transaction during the year ended December 31, 2015, and an increase in the collection of notes and mortgages receivable of $13.9 million, offset by a decrease in deposits for property acquisitions of $5.0 million and a decrease in proceeds from the sale of real estate of $3.0 million.

Financing Activities

Net cash flow from financing activities decreased by $196.9 million for the year ended December 31, 2016, to a use of $41.0 million, as compared to net cash flow provided by financing activities of $155.9 million for the year ended December 31, 2015. The increase in use of net cash flow for financing activities for the year ended December 31, 2016, was primarily due to net repayments under the Credit Agreement of $19.0 million, as compared to net borrowings of $194.0 million for the year ended December 31, 2015, offset by an increase in net proceeds from issuance of common stock of $14.9 million and a decrease in loan origination costs of $2.4 million.

Credit Agreement

On June 2, 2015, we entered into a $225.0 million senior unsecured credit agreement (the “Credit Agreement”) with a group of banks led by Bank of America, N.A. (the “Bank Syndicate”). The Credit Agreement consists of a $175.0 million revolving facility (the “Revolving Facility”), which is scheduled to mature in June 2018 and a $50.0 million term loan (the “Term Loan”), which is scheduled to mature in June 2020. Subject to the terms of the Credit Agreement and our continued compliance with its provisions, we have the option to (a) extend the term of the Revolving Facility for one additional year to June 2019 and (b) increase by $75.0 million the amount of the Revolving Facility to $250.0 million.

The Credit Agreement incurs interest and fees at various rates based on our net debt to EBITDA ratio (as defined in the Credit Agreement) at the end of each quarterly reporting period. The Revolving Facility permits borrowings at an interest rate equal to the sum of a base rate plus a margin of 0.95% to 2.25% or a LIBOR rate plus a margin of 1.95% to 3.25%. The annual commitment fee on the undrawn funds under the Revolving Facility is 0.25% to 0.30%. The Term Loan bears interest at a rate equal to the sum of a base rate plus a margin of 0.90% to 2.20% or a LIBOR rate plus a margin of 1.90% to 3.20%. The Credit Agreement does not provide for scheduled reductions in the principal balance prior to its maturity. As of December 31, 2016, borrowings under the Revolving Facility were $75.0 million and borrowings under the Term Loan were $50.0 million and, as of December 31, 2015, borrowings

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under the Revolving Facility were $94.0 million and borrowings under the Term Loan were $50.0 million. The interest rate on Credit Agreement borrowings at December 31, 2016, was 3.10% per annum.

The Credit Agreement contains customary financial covenants such as availability, leverage and coverage ratios and minimum tangible net worth, as well as limitations on restricted payments, which may limit our ability to incur additional debt or pay dividends. The Credit Agreement contains customary events of default, including cross default provisions under the Restated Prudential Note Purchase Agreement (as defined below), change of control and failure to maintain REIT status. Any event of default, if not cured or waived in a timely manner, would increase by 200 basis points (2.00%) the interest rate we pay under the Credit Agreement and prohibit us from drawing funds against the Credit Agreement and could result in the acceleration of our indebtedness under the Credit Agreement and could also give rise to an event of default and could result in the acceleration of our indebtedness under the Restated Prudential Note Purchase Agreement. We may be prohibited from drawing funds against the Revolving Facility if there is a material adverse effect on our business, assets, prospects or condition.

Senior Unsecured Notes

On June 2, 2015, we entered into an amended and restated note purchase agreement (the “Restated Prudential Note Purchase Agreement”) amending and restating our existing senior secured note purchase agreement with The Prudential Insurance Company of America (“Prudential”) and an affiliate of Prudential. Pursuant to the Restated Prudential Note Purchase Agreement, Prudential and its affiliate released the mortgage liens and other security interests held by Prudential and its affiliate on certain of our properties and assets, redenominated the existing notes in the aggregate amount of $100.0 million issued under the existing note purchase agreement as senior unsecured Series A Notes, and issued $75.0 million of senior unsecured Series B Notes bearing interest at 5.35% and maturing in June 2023 to Prudential and certain affiliates of Prudential. The Series A Notes continue to bear interest at 6.0% and mature in February 2021. The Restated Prudential Note Purchase Agreement does not provide for scheduled reductions in the principal balance of either the Series A Notes or the Series B Notes prior to their respective maturities. As of December 31, 2016 and 2015, borrowings under the Restated Prudential Note Purchase Agreement were $175.0 million.

The Restated Prudential Note Purchase Agreement contains customary financial covenants such as leverage and coverage ratios and minimum tangible net worth, as well as limitations on restricted payments, which may limit our ability to incur additional debt or pay dividends. The Restated Prudential Note Purchase Agreement contains customary events of default, including default under the Credit Agreement and failure to maintain REIT status. Any event of default, if not cured or waived, would increase by 200 basis points (2.00%) the interest rate we pay under the Restated Prudential Note Purchase Agreement and could result in the acceleration of our indebtedness under the Restated Prudential Note Purchase Agreement and could also give rise to an event of default and could result in the acceleration of our indebtedness under our Credit Agreement.

As of December 31, 2016, we are in compliance with all of the material terms of the Credit Agreement and Restated Prudential Note Purchase Agreement, including the various financial covenants described above.

As of December 31, 2016, the maturity date and amounts outstanding under the Credit Agreement and the Restated Prudential Note Purchase Agreement are as follows:

	Maturity Date	Amount
Credit Agreement—Revolving Facility	June 2018	$	75.0 million
Credit Agreement—Term Loan	June 2020	$	50.0 million
Restated Prudential Note Purchase Agreement—Series A Notes	February 2021	$	100.0 million
Restated Prudential Note Purchase Agreement—Series B Notes	June 2023	$	75.0 million

Property Acquisitions and Capital Expenditures

As part of our overall business strategy, we regularly review opportunities to acquire additional properties and we expect to continue to pursue acquisitions that we believe will benefit our financial performance.

During the year ended December 31, 2016, we acquired fee simple or leasehold interests in three convenience store and gasoline station properties and an adjacent parcel of land to an existing property for a redevelopment project, in separate transactions, for an aggregate purchase price of $7.7 million. During the year ended December 31, 2015, we acquired fee simple interests in 80 convenience store and gasoline station properties for an aggregate purchase price of $219.2 million, substantially all of which was for the United Oil Transaction.

We are reviewing select opportunities for capital expenditures, redevelopment and alternative uses for certain of our properties. We are also seeking to recapture select properties from our net lease portfolio to redevelop such properties for alternative single-tenant net lease retail uses. For the year ended December 31, 2016, we spent $0.7 million (of which $0.3 million was previously accrued for at December 31, 2015) of construction-in-progress costs related to our redevelopment activities. For the year ended December 31, 2016, we completed one redevelopment project and $1.0 million of construction-in-progress was transferred to buildings and improvements on our consolidated balance sheet.

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Since we generally lease our properties on a triple-net basis, we have not historically incurred significant capital expenditures other than those related to acquisitions. However, our tenants frequently make improvements to the properties leased from us at their expense. As of December 31, 2016, we have a remaining commitment to fund up to $10.2 million in the aggregate in capital improvements in certain properties previously subject to the Master Lease with Marketing.

To the extent that our sources of liquidity are not sufficient to fund acquisitions, redevelopment projects and capital expenditures, we will require other sources of capital, which may or may not be available on favorable terms or at all.

ATM Program

In June 2016, we established an at-the-market equity offering program (the “ATM Program”), pursuant to which we may issue and sell shares of our common stock with an aggregate sales price of up to $125.0 million through a consortium of banks acting as agents. Sales of the shares of common stock may be made, as needed, from time to time in at-the-market offerings as defined in Rule 415 of the Securities Act of 1933, including by means of ordinary brokers’ transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or as otherwise agreed to with the applicable agent. We incurred $0.4 million of stock issuance costs in the establishment of the ATM Program. Stock issuance costs consisted primarily of underwriters’ fees and legal and accounting fees.

During the year ended December 31, 2016, we issued 653,000 shares and received net proceeds of $14.9 million. Future sales, if any, will depend on a variety of factors to be determined by us from time to time, including among others, market conditions, the trading price of our common stock, determinations by us of the appropriate sources of funding for us and potential uses of funding available to us.

Dividends

We elected to be treated as a REIT under the federal income tax laws with the year beginning January 1, 2001. To qualify for taxation as a REIT, we must, among other requirements such as those related to the composition of our assets and gross income, distribute annually to our stockholders at least 90% of our taxable income, including taxable income that is accrued by us without a corresponding receipt of cash. We cannot provide any assurance that our cash flows will permit us to continue paying dividends.

The Internal Revenue Service (“IRS”) has allowed the use of a procedure, as a result of which we could satisfy the REIT income distribution requirement by making a distribution on our common stock comprised of (i) shares of our common stock having a value of up to 80% of the total distribution and (ii) cash in the remaining amount of the total distribution, in lieu of paying the distribution entirely in cash. In January 2015, we received a private letter ruling from the IRS that allows us to use such a procedure.

It is also possible that instead of distributing 100% of our taxable income on an annual basis, we may decide to retain a portion of our taxable income and to pay taxes on such amounts as permitted by the IRS. Payment of dividends is subject to market conditions, our financial condition, including but not limited to, our continued compliance with the provisions of the Credit Agreement and the Restated Prudential Note Purchase Agreement and other factors, and therefore is not assured. In particular, our Credit Agreement and Restated Prudential Note Purchase Agreement prohibit the payment of dividends during certain events of default.

Cash dividends paid to our shareholders aggregated $36.2 million, $35.2 million and $28.7 million, for the years ended December 31, 2016, 2015 and 2014, respectively. In addition, during the year ended December 31, 2016, we paid $4.4 million in stock dividends as part of a special dividend. There can be no assurance that we will continue to pay dividends at historical rates.

CONTRACTUAL OBLIGATIONS

Our significant contractual obligations and commitments as of December 31, 2016, were comprised of borrowings under the Credit Agreement and the Restated Prudential Note Purchase Agreement, operating and capital lease payments due to landlords, estimated environmental remediation expenditures and our funding commitments for capital improvements at certain properties which were previously leased to Marketing. The aggregate maturity of the Credit Agreement and the Restated Prudential Note Purchase Agreement is as follows: 2018 — $75.0 million, 2020 — $50.0 million, 2021 — $100.0 million and 2023 — $75.0 million.

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In addition, as a REIT, we are required to pay dividends equal to at least 90% of our taxable income in order to continue to qualify as a REIT. Our contractual obligations and commitments as of December 31, 2016, are summarized below (in thousands):

	TOTAL		LESS THAN ONE YEAR		ONE TO THREE YEARS		THREE TO FIVE YEARS		MORE THAN FIVE YEARS
Operating and capital leases	$	25,758	$	6,246	$	10,168	$	6,067	$	3,277
Credit Agreement (a)		125,000		—		75,000		50,000		—
Restated Prudential Note Purchase Agreement (a)		175,000		—		—		100,000		75,000
Estimated environmental remediation expenditures (b)		74,516		19,882		23,190		14,425		17,019
Capital improvements (c)		10,231		—		—		10,231		—
Total	$	410,505	$	26,128	$	108,358	$	180,723	$	95,296

(a) Excludes related interest payments. See “Liquidity and Capital Resources” above and “Item 7A. Quantitative and Qualitative Disclosures About Market Risk” for additional information.

(b) Estimated environmental remediation expenditures have been adjusted for inflation and discounted to present value.

(c) The actual timing of funding of capital improvements is dependent on the timing of such capital improvement projects and the terms of our leases. Our commitments provide us with the option to either reimburse our tenants, or to offset rent when these capital expenditures are made.

Generally, leases with our tenants are triple-net leases with the tenant responsible for the operations conducted at our properties and for the payment of taxes, maintenance, repair, insurance, environmental remediation and other operating expenses.

We have no significant contractual obligations not fully recorded on our consolidated balance sheets or fully disclosed in the notes to our consolidated financial statements. We have no off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K promulgated by the Exchange Act.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The consolidated financial statements included in this Annual Report on Form 10-K have been prepared in conformity with accounting principles generally accepted in the United States of America. The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates, judgments and assumptions that affect the amounts reported in our consolidated financial statements. Although we have made estimates, judgments and assumptions regarding future uncertainties relating to the information included in our consolidated financial statements, giving due consideration to the accounting policies selected and materiality, actual results could differ from these estimates, judgments and assumptions and such differences could be material.

Estimates, judgments and assumptions underlying the accompanying consolidated financial statements include, but are not limited to, real estate, receivables, deferred rent receivable, direct financing leases, depreciation and amortization, impairment of long-lived assets, environmental remediation obligations, litigation, accrued liabilities, income taxes and the allocation of the purchase price of properties acquired to the assets acquired and liabilities assumed. The information included in our consolidated financial statements that is based on estimates, judgments and assumptions is subject to significant change and is adjusted as circumstances change and as the uncertainties become more clearly defined.

Our accounting policies are described in Note 1 in “Item 8. Financial Statements and Supplementary Data”. We believe that the more critical of our accounting policies relate to revenue recognition and deferred rent receivable and related reserves, direct financing leases, impairment of long-lived assets, environmental remediation obligations, litigation, income taxes, and the allocation of the purchase price of properties acquired to the assets acquired and liabilities assumed as described below:

Revenue Recognition

We earn revenue primarily from operating leases with our tenants. We recognize income under leases with our tenants, on the straight-line method, which effectively recognizes contractual lease payments evenly over the current term of the leases. The present value of the difference between the fair market rent and the contractual rent for in-place leases at the time properties are acquired is amortized into revenue from rental properties over the remaining lives of the in-place leases. A critical assumption in applying the straight-line accounting method is that the tenant will make all contractual lease payments during the current lease term and that the net deferred rent receivable balance will be collected when the payment is due, in accordance with the annual rent escalations provided for in the leases. We may be required to reverse, or provide reserves for a portion of the recorded deferred rent receivable if it becomes apparent that the tenant may not make all of its contractual lease payments when due during the current term of the lease.

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Direct Financing Leases

Income under direct financing leases is included in revenues from rental properties and is recognized over the lease terms using the effective interest rate method which produces a constant periodic rate of return on the net investments in the leased properties. The investments in direct financing leases represents the investments in leased assets accounted for as direct financing leases. The investments in direct financing leases are increased for interest income earned and amortized over the life of the leases and reduced by the receipt of lease payments.

Impairment of Long-Lived Assets

Real estate assets represent “long-lived” assets for accounting purposes. We review the recorded value of long-lived assets for impairment in value whenever any events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. We may become aware of indicators of potentially impaired assets upon tenant or landlord lease renewals, upon receipt of notices of potential governmental takings and zoning issues, or upon other events that occur in the normal course of business that would cause us to review the operating results of the property. We believe our real estate assets are not carried at amounts in excess of their estimated net realizable fair value amounts.

Environmental Remediation Obligations

We provide for the estimated fair value of future environmental remediation obligations when it is probable that a liability has been incurred and a reasonable estimate of fair value can be made. See “Environmental Matters” below for additional information. Environmental liabilities net of related recoveries are measured based on their expected future cash flows which have been adjusted for inflation and discounted to present value. Since environmental exposures are difficult to assess and estimate and knowledge about these liabilities is not known upon the occurrence of a single event, but rather is gained over a continuum of events, we believe that it is appropriate that our accrual estimates are adjusted as the remediation treatment progresses, as circumstances change and as environmental contingencies become more clearly defined and reasonably estimable. A critical assumption in accruing for these liabilities is that the state environmental laws and regulations will be administered and enforced in the future in a manner that is consistent with past practices. Environmental liabilities are estimated net of recoveries of environmental costs from state UST remediation funds, with respect to past and future spending based on estimated recovery rates developed from our experience with the funds when such recoveries are considered probable. A critical assumption in accruing for these recoveries is that the state UST fund programs will be administered and funded in the future in a manner that is consistent with past practices and that future environmental spending will be eligible for reimbursement at historical rates under these programs. We accrue environmental liabilities based on our share of responsibility as defined in our lease contracts with our tenants and under various other agreements with others or if circumstances indicate that our counterparty may not have the financial resources to pay its share of the costs. It is possible that our assumptions regarding the ultimate allocation method and share of responsibility that we used to allocate environmental liabilities may change, which may result in material adjustments to the amounts recorded for environmental litigation accruals and environmental remediation liabilities. We may ultimately be responsible to pay for environmental liabilities as the property owner if our tenants or other counterparties fail to pay them. In certain environmental matters the effect on future financial results is not subject to reasonable estimation because considerable uncertainty exists both in terms of the probability of loss and the estimate of such loss. The ultimate liabilities resulting from such lawsuits and claims, if any, may be material to our results of operations in the period in which they are recognized.

Litigation

Legal fees related to litigation are expensed as legal services are performed. We provide for litigation accruals, including certain litigation related to environmental matters (see “Environmental Matters” below for additional information), when it is probable that a liability has been incurred and a reasonable estimate of the liability can be made. If the estimate of the liability can only be identified as a range, and no amount within the range is a better estimate than any other amount, the minimum of the range is accrued for the liability.

Income Taxes

Our financial results generally do not reflect provisions for current or deferred federal income taxes since we elected to be treated as a REIT under the federal income tax laws effective January 1, 2001. Our intention is to operate in a manner that will allow us to continue to be treated as a REIT and, as a result, we do not expect to pay substantial corporate-level federal income taxes. Many of the REIT requirements, however, are highly technical and complex. If we were to fail to meet the requirements, we may be subject to federal income tax, excise taxes, penalties and interest or we may have to pay a deficiency dividend to eliminate any earnings and profits that were not distributed. Certain states do not follow the federal REIT rules and we have included provisions for these taxes in property costs.

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Allocation of the Purchase Price of Properties Acquired

Upon acquisition of real estate and leasehold interests, we estimate the fair value of acquired tangible assets (consisting of land, buildings and improvements) “as if vacant” and identified intangible assets and liabilities (consisting of leasehold interests, above-market and below-market leases, in-place leases and tenant relationships) and assumed debt. Based on these estimates, we allocate the purchase price to the applicable assets and liabilities.

ENVIRONMENTAL MATTERS

General

We are subject to numerous federal, state and local laws and regulations, including matters relating to the protection of the environment such as the remediation of known contamination and the retirement and decommissioning or removal of long-lived assets including buildings containing hazardous materials, USTs and other equipment. Environmental costs are principally attributable to remediation costs which are incurred for, among other things, removing USTs, excavation of contaminated soil and water, installing, operating, maintaining and decommissioning remediation systems, monitoring contamination and governmental agency compliance reporting required in connection with contaminated properties. We seek reimbursement from state UST remediation funds related to these environmental costs where available. In July 2012, we purchased a ten-year pollution legal liability insurance policy covering all of our properties at that time for preexisting unknown environmental liabilities and new environmental events. The policy has a $50.0 million aggregate limit and is subject to various self-insured retentions and other conditions and limitations. Our intention in purchasing this policy is to obtain protection predominantly for significant events. No assurances can be given that we will obtain a net financial benefit from this investment.

The estimated future costs for known environmental remediation requirements are accrued when it is probable that a liability has been incurred and a reasonable estimate of fair value can be made. The accrued liability is the aggregate of the best estimate of the fair value of cost for each component of the liability net of estimated recoveries from state UST remediation funds considering estimated recovery rates developed from prior experience with the funds.

We enter into leases and various other agreements which contractually allocate responsibility between the parties for known and unknown environmental liabilities at or relating to the subject properties. We are contingently liable for these environmental obligations in the event that our counterparty to the lease or other agreement does not satisfy them. It is possible that our assumptions regarding the ultimate allocation method and share of responsibility that we used to allocate environmental liabilities may change, which may result in material adjustments to the amounts recorded for environmental litigation accruals and environmental remediation liabilities. We are required to accrue for environmental liabilities that we believe are allocable to others under our leases and other agreements if we determine that it is probable that our counterparty will not meet its environmental obligations. We may ultimately be responsible to pay for environmental liabilities as the property owner if our counterparty fails to pay them. We assess whether to accrue for environmental liabilities based upon relevant factors including our tenants’ histories of paying for such obligations, our assessment of their financial ability, and their intent to pay for such obligations. However, there can be no assurance that our assessments are correct or that our tenants who have paid their obligations in the past will continue to do so. The ultimate resolution of these matters could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

For all of our triple-net leases, our tenants are contractually responsible for compliance with environmental laws and regulations, removal of USTs at the end of their lease term (the cost of which in certain cases is partially borne by us) and remediation of any environmental contamination that arises during the term of their tenancy. Under the terms of our leases covering properties previously leased to Marketing (substantially all of which commenced in 2012), we have agreed to be responsible for environmental contamination at the premises that was known at the time the lease commenced, and which existed prior to commencement of the lease and is discovered (other than as a result of a voluntary site investigation) during the first ten years of the lease term (or a shorter period for a minority of such leases). After expiration of such ten-year (or, in certain cases, shorter) period, responsibility for all newly discovered contamination, even if it relates to periods prior to commencement of the lease, is contractually allocated to our tenant. Our tenants at properties previously leased to Marketing are in all cases responsible for the cost of any remediation of contamination that results from their use and occupancy of our properties. Under substantially all of our other triple-net leases, responsibility for remediation of all environmental contamination discovered during the term of the lease (including known and unknown contamination that existed prior to commencement of the lease) is the responsibility of our tenant.

We anticipate that a majority of the USTs at properties previously leased to Marketing will be replaced over the next several years because these USTs are either at or near the end of their useful lives. For long-term, triple-net leases covering sites previously leased to Marketing, our tenants are responsible for the cost of removal and replacement of USTs and for remediation of contamination found during such UST removal and replacement, unless such contamination was found during the first ten years of the lease term and also existed prior to commencement of the lease. In those cases, we are responsible for costs associated with the remediation of

37

such contamination. For properties that are vacant, we are responsible for costs associated with UST removals and for the cost of remediation of contamination found during the removal of USTs. We have also agreed to be responsible for environmental contamination that existed prior to the sale of certain properties assuming the contamination is discovered (other than as a result of a voluntary site investigation) during the first five years after the sale of the properties.

In the course of certain UST removals and replacements at properties previously leased to Marketing where we retained continuing responsibility for preexisting environmental obligations, previously unknown environmental contamination was and continues to be discovered. As a result, we have developed a reasonable estimate of fair value for the prospective future environmental liability resulting from preexisting unknown environmental contamination and accrued for these estimated costs. These estimates are based primarily upon quantifiable trends, which we believe allow us to make reasonable estimates of fair value for the future costs of environmental remediation resulting from the removal and replacement of USTs. Our accrual of the additional liability represents the best estimate of the fair value of cost for each component of the liability, net of estimated recoveries from state UST remediation funds, considering estimated recovery rates developed from prior experience with the funds. In arriving at our accrual, we analyzed the ages of USTs at properties where we would be responsible for preexisting contamination found within ten years after commencement of a lease (for properties subject to long-term triple-net leases) or five years from a sale (for divested properties), and projected a cost to closure for new environmental contamination. Based on these estimates, along with relevant economic and risk factors, at December 31, 2016 and 2015, we have accrued $45.0 million and $45.4 million, respectively, for these future environmental liabilities related to preexisting unknown contamination. Our estimates are based upon facts that are known to us at this time and an assessment of the possible ultimate remedial action outcomes. It is possible that our assumptions, which form the basis of our estimates, regarding our ultimate environmental liabilities may change, which may result in our providing an accrual, or adjustments to the amounts recorded, for environmental remediation liabilities. Among the many uncertainties that impact the estimates are our assumptions, the necessary regulatory approvals for, and potential modifications of remediation plans, the amount of data available upon initial assessment of contamination, changes in costs associated with environmental remediation services and equipment, the availability of state UST remediation funds and the possibility of existing legal claims giving rise to additional claims. Additional environmental liabilities could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Environmental exposures are difficult to assess and estimate for numerous reasons, including the extent of contamination, alternative treatment methods that may be applied, location of the property which subjects it to differing local laws and regulations and their interpretations, as well as the time it takes to remediate contamination and receive regulatory approval. In developing our liability for estimated environmental remediation obligations on a property by property basis, we consider among other things, enacted laws and regulations, assessments of contamination and surrounding geology, quality of information available, currently available technologies for treatment, alternative methods of remediation and prior experience. Environmental accruals are based on estimates which are subject to significant change, and are adjusted as the remediation treatment progresses, as circumstances change and as environmental contingencies become more clearly defined and reasonably estimable. We expect to adjust the accrued liabilities for environmental remediation obligations reflected in our consolidated financial statements as they become probable and a reasonable estimate of fair value can be made.

We measure our environmental remediation liability at fair value based on expected future net cash flows, adjusted for inflation (using a range of 2.0% to 2.75%), and then discount them to present value (using a range of 4.0% to 7.0%). We adjust our environmental remediation liability quarterly to reflect changes in projected expenditures, changes in present value due to the passage of time and reductions in estimated liabilities as a result of actual expenditures incurred during each quarter. As of December 31, 2016, we had accrued a total of $74.5 million for our prospective environmental remediation liability. This accrual includes (a) $29.5 million, which was our best estimate of reasonably estimable environmental remediation obligations and obligations to remove USTs for which we are the title owner, net of estimated recoveries and (b) $45.0 million for future environmental liabilities related to preexisting unknown contamination. As of December 31, 2015, we had accrued a total of $84.3 million for our prospective environmental remediation liability. This accrual includes (a) $38.9 million, which was our best estimate of reasonably estimable environmental remediation obligations and obligations to remove USTs for which we are the title owner, net of estimated recoveries and (b) $45.4 million for future environmental liabilities related to preexisting unknown contamination.

Environmental liabilities are accreted for the change in present value due to the passage of time and, accordingly, $4.1 million, $4.8 million and $3.0 million of net accretion expense was recorded for the years ended December 31, 2016, 2015 and 2014, respectively, which is included in environmental expenses. In addition, during the years ended December 31, 2016, 2015 and 2014, we recorded credits to environmental expenses, included in continuing and discontinued operations, aggregating $7.0 million, $4.6 million and $2.8 million, respectively, where decreases in estimated remediation costs exceeded the depreciated carrying value of previously capitalized asset retirement costs. Environmental expenses also include project management fees, legal fees and provisions for environmental litigation losses.

During the years ended December 31, 2016 and 2015, we increased the carrying value of certain of our properties by $11.3 million and $12.3 million, respectively, due to increases in estimated environmental remediation costs. The recognition and

38

subsequent changes in estimates in environmental liabilities and the increase or decrease in carrying value of the properties are non-cash transactions which do not appear on the face of the consolidated statements of cash flows. We recorded impairment charges aggregating $11.7 million (consisting of $11.5 million for known environmental liabilities and $0.2 million for future environmental liabilities) and $12.5 million (consisting of $10.3 million for known environmental liabilities and $2.2 million for future environmental liabilities) for the years ended December 31, 2016 and 2015, respectively, in continuing and discontinued operations for capitalized asset retirement costs. Capitalized asset retirement costs are being depreciated over the estimated remaining life of the UST, a ten-year period if the increase in carrying value is related to environmental remediation obligations or such shorter period if circumstances warrant, such as the remaining lease term for properties we lease from others. Depreciation and amortization expense related to capitalized asset retirement costs included in continuing and discontinued operations for the years ended December 31, 2016, 2015 and 2014 were $5.1 million, $6.0 million and $1.6 million, respectively. Capitalized asset retirement costs were $49.1 million (consisting of $20.6 million of known environmental liabilities and $28.5 million of reserves for future environmental liabilities) and $51.4 million (consisting of $20.9 million of known environmental liabilities and $30.5 million of reserves for future environmental liabilities) as of December 31, 2016 and 2015, respectively.

As part of the triple-net leases for our properties previously leased to Marketing, we transferred title of the USTs to our tenants, and the obligation to pay for the retirement and decommissioning or removal of USTs at the end of their useful life or earlier if circumstances warranted was fully or partially transferred to our new tenants. We remain contingently liable for this obligation in the event that our tenants do not satisfy their responsibilities. Accordingly, through December 31, 2016, we removed $13.8 million of asset retirement obligations and $10.8 million of net asset retirement costs related to USTs from our balance sheet. The cumulative net amount of $3.0 million is recorded as deferred rental revenue and will be recognized on a straight-line basis as additional revenues from rental properties over the terms of the various leases. See Note 2 in “Item 8. Financial Statements and Supplementary Data” in this Form 10-K.

We cannot predict what environmental legislation or regulations may be enacted in the future or how existing laws or regulations will be administered or interpreted with respect to products or activities to which they have not previously been applied. We cannot predict if state UST fund programs will be administered and funded in the future in a manner that is consistent with past practices and if future environmental spending will continue to be eligible for reimbursement at historical recovery rates under these programs. Compliance with more stringent laws or regulations, as well as more vigorous enforcement policies of the regulatory agencies or stricter interpretation of existing laws, which may develop in the future, could have an adverse effect on our financial position, or that of our tenants, and could require substantial additional expenditures for future remediation.

In light of the uncertainties associated with environmental expenditure contingencies, we are unable to estimate ranges in excess of the amount accrued with any certainty; however, we believe it is possible that the fair value of future actual net expenditures could be substantially higher than amounts currently recorded by us. Adjustments to accrued liabilities for environmental remediation obligations will be reflected in our consolidated financial statements as they become probable and a reasonable estimate of fair value can be made. Future environmental expenses could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Environmental Litigation

We are subject to various legal proceedings and claims which arise in the ordinary course of our business. As of December 31, 2016 and 2015, we had accrued an aggregate $11.8 million and $11.3 million, respectively, for certain of these matters which we believe were appropriate based on information then currently available. It is possible that our assumptions regarding the ultimate allocation method and share of responsibility that we used to allocate environmental liabilities may change, which may result in our providing an accrual, or adjustments to the amounts recorded, for environmental litigation accruals. Matters related to our former Newark, New Jersey Terminal and Lower Passaic River and MTBE litigations in the states of New Jersey and Pennsylvania, in particular, could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price. See “Item 3. Legal Proceedings” and Note 3 in “Item 8. Financial Statements and Supplementary Data” in this Form 10-K for additional information with respect to these and other pending environmental lawsuits and claims.

Item 7A. Quantitative and Qualitative Disclosures about Market Risk

We are exposed to interest rate risk, primarily as a result of our $225.0 million senior unsecured credit agreement (the “Credit Agreement”) entered into on June 2, 2015 with a group of commercial banks led by Bank of America, N.A. (the “Bank Syndicate”). The Credit Agreement consists of a $175.0 million revolving facility (the “Revolving Facility”), which is scheduled to mature in June 2018 and a $50.0 million term loan (the “Term Loan”), which is scheduled to mature in June 2020. Subject to the terms of the Credit Agreement and our continued compliance with its provisions, we have the option to (a) extend the term of the Revolving Facility for one additional year to June 2019 and (b) increase by $75.0 million the amount of the Revolving Facility to $250.0 million. The Credit Agreement incurs interest and fees at various rates based on our net debt to EBITDA ratio (as defined in the Credit Agreement) at the end of each quarterly reporting period. The Revolving Facility permits borrowings at an interest rate equal to the sum of a base rate

39

plus a margin of 0.95% to 2.25% or a LIBOR rate plus a margin of 1.95% to 3.25%. The Term Loan bears interest at a rate equal to the sum of a base rate plus a margin of 0.90% to 2.20% or a LIBOR rate plus a margin of 1.90% to 3.20%. The Credit Agreement does not provide for scheduled reductions in the principal balance prior to its maturity. We use borrowings under the Credit Agreement to finance acquisitions and for general corporate purposes. Borrowings outstanding at floating interest rates under the Credit Agreement as of December 31, 2016, were $125.0 million.

We manage our exposure to interest rate risk by minimizing, to the extent feasible, our overall borrowings and monitoring available financing alternatives. We reduced our interest rate risk on June 2, 2015 when we entered into an amended and restated note purchase agreement (the “Restated Prudential Note Purchase Agreement”) with The Prudential Insurance Company of America (“Prudential”) and an affiliate of Prudential. Pursuant to the Restated Prudential Note Purchase Agreement, Prudential and its affiliate redenominated the existing notes in the aggregate amount of $100.0 million issued under the existing note purchase agreement as senior unsecured Series A Notes, and issued $75.0 million of senior unsecured Series B Notes bearing interest at 5.35% and maturing in June 2023 to Prudential and certain affiliates of Prudential. The Series A Notes continue to bear interest at 6.0% and mature in February 2021. The Restated Prudential Note Purchase Agreement does not provide for scheduled reductions in the principal balance of either the Series A Notes or the Series B Notes prior to their respective maturities. Our interest rate risk may materially change in the future if we seek other sources of debt or equity capital or refinance our outstanding debt.

Based on our average outstanding borrowings under the Credit Agreement of $125.0 million for the year ended December 31, 2016, an increase in market interest rates of 1.00% for 2017 would decrease our 2017 net income and cash flows by approximately $1.3 million. This amount was determined by calculating the effect of a hypothetical interest rate change on our borrowings floating at market rates, and assumes that the $125.0 million outstanding borrowings under the Credit Agreement is indicative of our future average floating interest rate borrowings for 2017 before considering additional borrowings required for future acquisitions or repayment of outstanding borrowings from proceeds of future equity offerings. The calculation also assumes that there are no other changes in our financial structure or the terms of our borrowings. Our exposure to fluctuations in interest rates will increase or decrease in the future with increases or decreases in the outstanding amount under our Credit Agreement and with increases or decreases in amounts outstanding under borrowing agreements entered into with interest rates floating at market rates.

In order to minimize our exposure to credit risk associated with financial instruments, we place our temporary cash investments with high-credit-quality institutions. Temporary cash investments, if any, are currently held in an overnight bank time deposit with JPMorgan Chase Bank, N.A.

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Item 8. Financial Statements and Supplementary Data

GETTY REALTY CORP. INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND

SUPPLEMENTARY DATA

	(PAGES)
Consolidated Balance Sheets as of December 31, 2016 and 2015		42
Consolidated Statements of Operations for the years ended December  31, 2016, 2015 and 2014		43
Consolidated Statements of Cash Flows for the years ended December  31, 2016, 2015 and 2014		44
Notes to Consolidated Financial Statements		46
Report of Independent Registered Public Accounting Firm		67

41

GETTY REALTY CORP. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

	DECEMBER 31,
	2016			2015
ASSETS:
Real Estate:
Land	$	474,115		$	475,784
Buildings and improvements		306,980			304,894
Construction in progress		426			955
		781,521			781,633
Less accumulated depreciation and amortization		(120,576	)		(107,109	)
Real estate held for use, net		660,945			674,524
Real estate held for sale, net		645			1,339
Real estate, net		661,590			675,863
Investment in direct financing leases, net		92,097			94,098
Notes and mortgages receivable		32,737			48,455
Cash and cash equivalents		12,523			3,942
Restricted cash		671			409
Deferred rent receivable		29,966			25,450
Accounts receivable, net of allowance of $2,006 and $2,634, respectively		4,118			2,975
Prepaid expenses and other assets		43,604			45,726
Total assets	$	877,306		$	896,918
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Borrowings under credit agreement, net	$	123,801		$	142,100
Senior unsecured notes, net		174,743			174,689
Mortgage payable, net		—			303
Environmental remediation obligations		74,516			84,345
Dividends payable		9,742			15,897
Accounts payable and accrued liabilities		63,586			73,023
Total liabilities		446,388			490,357
Commitments and contingencies (notes 2, 3, 4 and 5)		—			—
Shareholders’ equity:
Preferred stock, $0.01 par value; 20,000,000 shares authorized; unissued		—			—
Common stock, $0.01 par value; 50,000,000 shares authorized; 34,393,114 and 33,422,170 shares issued and outstanding, respectively		344			334
Additional paid-in capital		485,659			464,338
Dividends paid in excess of earnings		(55,085	)		(58,111	)
Total shareholders’ equity		430,918			406,561
Total liabilities and shareholders’ equity	$	877,306		$	896,918

The accompanying notes are an integral part of these consolidated financial statements.

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GETTY REALTY CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

	YEAR ENDED DECEMBER 31,
	2016			2015			2014
Revenues:
Revenues from rental properties	$	97,939		$	92,889		$	82,971
Tenant reimbursements		13,784			14,146			13,777
Interest on notes and mortgages receivable		3,543			3,698			3,145
Total revenues		115,266			110,733			99,893
Operating expenses:
Property costs		22,725			23,649			23,768
Impairments		6,888			11,615			12,938
Environmental		2,578			6,222			4,612
General and administrative		14,154			16,930			15,777
(Recoveries) allowance for uncollectible accounts		(448	)		1,053			3,408
Depreciation and amortization		19,170			16,974			10,549
Total operating expenses		65,067			76,443			71,052
Operating income		50,199			34,290			28,841
Gains on dispositions of real estate		6,418			2,272			1,223
Other income, net		2,025			18,301			147
Interest expense		(16,561	)		(14,493	)		(9,806	)
Earnings from continuing operations		42,081			40,370			20,405
Discontinued operations:
Loss from operating activities		(3,465	)		(3,299	)		(5,982	)
(Loss) gains on dispositions of real estate		(205	)		339			8,995
(Loss) earnings from discontinued operations		(3,670	)		(2,960	)		3,013
Net earnings	$	38,411		$	37,410		$	23,418
Basic and diluted earnings per common share:
Earnings from continuing operations	$	1.23		$	1.20		$	0.60
(Loss) earnings from discontinued operations		(0.11	)		(0.09	)		0.09
Net earnings	$	1.12		$	1.11		$	0.69
Weighted average common shares outstanding:
Basic and diluted		33,806			33,420			33,409

The accompanying notes are an integral part of these consolidated financial statements.

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GETTY REALTY CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

	YEAR ENDED DECEMBER 31,
	2016			2015			2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$	38,411		$	37,410		$	23,418
Adjustments to reconcile net earnings to net cash flow provided by operating activities:
Depreciation and amortization expense		19,170			16,974			10,549
Impairment charges		12,814			17,361			21,534
(Gains) loss on dispositions of real estate
Continuing operations		(6,418	)		(2,272	)		(1,223	)
Discontinued operations		205			(339	)		(8,995	)
Deferred rent receivable, net of allowance		(4,516	)		(4,401	)		(4,156	)
(Recoveries) allowance for uncollectible accounts		(448	)		1,089			1,278
Amortization of above-market and below-market leases		(569	)		(1,496	)		(28	)
Amortization of credit agreement and senior unsecured notes origination costs		851			1,150			1,068
Accretion expense		4,107			4,829			3,046
Stock-based employee compensation expense		1,426			1,090			917
Changes in assets and liabilities:
Accounts receivable		(2,382	)		(1,546	)		(730	)
Prepaid expenses and other assets		445			(189	)		3,934
Environmental remediation obligations		(24,640	)		(23,485	)		(16,368	)
Accounts payable and accrued liabilities		(1,582	)		3,513			(5,007	)
Net cash flow provided by operating activities		36,874			49,688			29,237
CASH FLOWS FROM INVESTING ACTIVITIES:
Property acquisitions		(7,688	)		(219,192	)		(17,098	)
Capital expenditures		(298	)		(334	)		(140	)
Addition to construction in progress		(406	)		(687	)		—
Proceeds from dispositions of real estate
Continuing operations		3,957			5,604			4,776
Discontinued operations		88			1,424			15,289
Deposits for property acquisitions		(2,206	)		2,844			16,226
Change in restricted cash		(262	)		304			287
Amortization of investment in direct financing leases		2,001			1,666			1,382
Collection of notes and mortgages receivable		17,532			3,647			2,783
Net cash flow provided by (used in) investing activities		12,718			(204,724	)		23,505
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under credit agreements		8,000			186,000			3,000
Repayments under credit agreements		(27,000	)		(67,000	)		(36,000	)
Borrowings under senior unsecured notes		—			75,000			—
Payments of capital lease obligations		(236	)		(249	)		(255	)
Repayment of mortgage payable		(400	)		(50	)		(50	)
Payments of cash dividends		(36,231	)		(35,150	)		(28,675	)
Payments of loan origination costs		—			(2,432	)		—
Security deposits received (refunded)		260			(187	)		314
Cash paid in settlement of restricted stock units		(290	)		(65	)		—
Proceeds from issuance of common stock, net		14,886			—			—
Net cash flow (used in) provided by financing activities		(41,011	)		155,867			(61,666	)
Change in cash and cash equivalents		8,581			831			(8,924	)
Cash and cash equivalents at beginning of year		3,942			3,111			12,035
Cash and cash equivalents at end of year	$	12,523		$	3,942		$	3,111

44

	YEAR ENDED DECEMBER 31,
	2016		2015		2014
Supplemental disclosures of cash flow information
Cash paid during the period for:
Interest	$	15,707	$	12,643	$	8,735
Income taxes		368		341		316
Environmental remediation obligations		17,633		19,123		13,448
Non-cash transactions
Issuance of notes and mortgages receivable related to property dispositions		1,814		17,876		8,278
Mortgage payable, net related to property acquisition		—		—		390
Accrued construction in progress	$	—	$	268	$	—

The accompanying notes are an integral part of these consolidated financial statements.

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GETTY REALTY CORP. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1. — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The consolidated financial statements include the accounts of Getty Realty Corp. and its wholly-owned subsidiaries. The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). We do not distinguish our principal business or our operations on a geographical basis for purposes of measuring performance. We manage and evaluate our operations as a single segment. All significant intercompany accounts and transactions have been eliminated.

Use of Estimates, Judgments and Assumptions

The consolidated financial statements have been prepared in conformity with GAAP, which requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and revenues and expenses during the period reported. Estimates, judgments and assumptions underlying the accompanying consolidated financial statements include, but are not limited to, real estate, receivables, deferred rent receivable, direct financing leases, depreciation and amortization, impairment of long-lived assets, environmental remediation costs, environmental remediation obligations, litigation, accrued liabilities, income taxes and the allocation of the purchase price of properties acquired to the assets acquired and liabilities assumed. Application of these estimates and assumptions requires exercise of judgment as to future uncertainties and, as a result, actual results could differ materially from these estimates.

Reclassifications

Beginning in 2016 Tenant reimbursements, which were previously included in Revenue from rental properties, were excluded from Revenue from rental properties. Certain other amounts in prior years’ financial statements have been reclassified to conform to the presentation used in the year ended December 31, 2016.

Real Estate

Real estate assets are stated at cost less accumulated depreciation and amortization. Upon acquisition of real estate and leasehold interests, we estimate the fair value of acquired tangible assets (consisting of land, buildings and improvements) “as if vacant” and identified intangible assets and liabilities (consisting of leasehold interests, above-market and below-market leases, in-place leases and tenant relationships) and assumed debt. Based on these estimates, we allocate the estimated fair value to the applicable assets and liabilities. Fair value is determined based on an exit price approach, which contemplates the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We expense transaction costs associated with business combinations in the period incurred. See Note 12 for additional information regarding property acquisitions.

We capitalize direct costs, including costs such as construction costs and professional services, and indirect costs associated with the development and construction of real estate assets while substantive activities are ongoing to prepare the assets for their intended use. The capitalization period begins when development activities are underway and ends when it is determined that the asset is substantially complete and ready for its intended use.

When real estate assets are sold or retired, the cost and related accumulated depreciation and amortization is eliminated from the respective accounts and any gain or loss is credited or charged to income. We evaluate real estate sale transactions where we provide seller financing to determine sale and gain recognition in accordance with GAAP. Expenditures for maintenance and repairs are charged to income when incurred.

Depreciation and Amortization

Depreciation of real estate is computed on the straight-line method based upon the estimated useful lives of the assets, which generally range from 16 to 25 years for buildings and improvements, or the term of the lease if shorter. Asset retirement costs are depreciated over the shorter of the remaining useful lives of USTs or ten years for asset retirement costs related to environmental remediation obligations, which costs are attributable to the group of assets identified at a property. Leasehold interests and in-place leases are amortized over the remaining term of the underlying lease.

46

Direct Financing Leases

Income under direct financing leases is included in revenues from rental properties and is recognized over the lease terms using the effective interest rate method which produces a constant periodic rate of return on the net investments in the leased properties. The investments in direct financing leases are increased for interest income earned and amortized over the life of the leases and reduced by the receipt of lease payments. We consider direct financing leases to be past-due or delinquent when a contractually required payment is not remitted in accordance with the provisions of the underlying agreement. We evaluate each account individually and set up an allowance when, based upon current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms, and the amount can be reasonably estimated.

We review our direct financing leases at least annually to determine whether there has been an-other-than-temporary decline in the current estimate of residual value of the property. The residual value is our estimate of what we could realize upon the sale of the property at the end of the lease term, based on market information and third-party estimates where available. If this review indicates that a decline in residual value has occurred that is other-than-temporary, we recognize an impairment charge. There were no impairments of any of our direct financing leases during the years ended December 31, 2016 and 2015.

When we enter into a contract to sell properties that are recorded as direct financing leases, we evaluate whether we believe it is probable that the disposition will occur. If we determine that the disposition is probable and therefore the property’s holding period is reduced, we record an allowance for credit losses to reflect the change in the estimate of the undiscounted future rents. Accordingly, the net investment balance is written down to fair value.

Notes and Mortgages Receivable

Notes and mortgages receivable consists of loans originated by us in conjunction with property dispositions and funding provided to tenants in conjunction with property acquisitions. Notes and mortgages receivable are recorded at stated principal amounts. We evaluate the collectability of both interest and principal on each loan to determine whether it is impaired. A loan is considered to be impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due under the existing contractual terms. When a loan is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the fair value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the underlying collateral, if the loan is collateralized. Interest income on performing loans is accrued as earned. Interest income on impaired loans is recognized on a cash basis. We do not provide for an additional allowance for loan losses based on the grouping of loans as we believe the characteristics of the loans are not sufficiently similar to allow an evaluation of these loans as a group for a possible loan loss allowance. As such, all of our loans are evaluated individually for impairment purposes. There were no impairments related to our notes and mortgages receivable during the years ended December 31, 2016 and 2015.

Cash and Cash Equivalents

We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Our cash and cash equivalents are held in the custody of financial institutions, and these balances, at times, exceed federally insurable limits.

Restricted Cash

Restricted cash consists of cash that is contractually restricted or held in escrow pursuant to various agreements with counterparties. At December 31, 2016, restricted cash of $671,000 consisted of security deposits received from our tenants. At December 31, 2015, restricted cash of $409,000 consisted of an escrow account established to guarantee our environmental remediation obligations at several of our properties.

Revenue Recognition and Deferred Rent Receivable

Minimum lease payments from operating leases are recognized on a straight-line basis over the term of the leases. The cumulative difference between lease revenue recognized under this method and the contractual lease payment terms is recorded as deferred rent receivable on our consolidated balance sheets. We reserve for a portion of the recorded deferred rent receivable if circumstances indicate that it is not reasonable to assume that the tenant will make all of its contractual lease payments when due during the current term of the lease. We make estimates of the collectability of our accounts receivable related to revenue from rental properties. We analyze accounts receivable and historical bad debt levels, customer creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. Additionally, with respect to tenants in bankruptcy, we estimate the expected recovery through bankruptcy claims and increase the allowance for amounts deemed uncollectible. If our assumptions regarding the collectability of accounts receivable prove incorrect, we could experience write-offs of the accounts receivable or deferred rent receivable in excess of our allowance for doubtful accounts.

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The present value of the difference between the fair market rent and the contractual rent for above-market and below-market leases at the time properties are acquired is amortized into revenues from rental properties over the remaining terms of the in-place leases. Lease termination fees are recognized as other income when earned upon the termination of a tenant’s lease and relinquishment of space in which we have no further obligation to the tenant.

Impairment of Long-Lived Assets

Assets are written down to fair value when events and circumstances indicate that the assets might be impaired and the projected undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. Assets held for disposal are written down to fair value less estimated disposition costs.

We recorded impairment charges aggregating $12,814,000, $17,361,000 and $21,534,000 for the years ended December 31, 2016, 2015 and 2014, respectively, in continuing and discontinued operations. Our estimated fair values, as they relate to property carrying values were primarily based upon (i) estimated sales prices from third-party offers based on signed contracts, letters of intent or indicative bids, for which we do not have access to the unobservable inputs used to determine these estimated fair values, and/or consideration of the amount that currently would be required to replace the asset, as adjusted for obsolescence (this method was used to determine $3,041,000 of the $12,814,000 in impairments recognized during the year ended December 31, 2016) and (ii) discounted cash flow models (this method was used to determine $1,660,000 of the $12,814,000 in impairments recognized during the year ended December 31, 2016). During the year ended December 31, 2016, we recorded $8,113,000 of the $12,814,000 in impairments recognized due to the accumulation of asset retirement costs as a result of changes in estimates associated with our estimated environmental liabilities which increased the carrying value of certain properties in excess of their fair value.

The impairment charges recorded during the years ended December 31, 2016 and 2015, were attributable to the effect of adding asset retirement costs due to changes in estimates associated with our environmental liabilities, which increased the carrying value of certain properties in excess of their fair value, reductions in estimated undiscounted cash flows expected to be received during the assumed holding period for certain of our properties and reductions in estimated sales prices from third-party offers based on signed contracts, letters of intent or indicative bids for certain of our properties.

The estimated fair value of real estate is based on the price that would be received from the sale of the property in an orderly transaction between market participants at the measurement date. In general, we consider multiple internal valuation techniques when measuring the fair value of a property, all of which are based on unobservable inputs and assumptions that are classified within Level 3 of the Fair Value Hierarchy. These unobservable inputs include assumed holding periods ranging up to 15 years, assumed average rent increases of 2.0% annually, income capitalized at a rate of 8.0% and cash flows discounted at a rate of 7.0%. These assessments have a direct impact on our net income because recording an impairment loss results in an immediate negative adjustment to net income. The evaluation of anticipated cash flows is highly subjective and is based in part on assumptions regarding future rental rates and operating expenses that could differ materially from actual results in future periods. Where properties held for use have been identified as having a potential for sale, additional judgments are required related to the determination as to the appropriate period over which the projected undiscounted cash flows should include the operating cash flows and the amount included as the estimated residual value. This requires significant judgment. In some cases, the results of whether impairment is indicated are sensitive to changes in assumptions input into the estimates, including the holding period until expected sale.

Deferred Gain

On August 3, 2015, we terminated our unitary triple-net lease (the “Ramoco Lease”) with Hanuman Business, Inc. (d/b/a “Ramoco”), and sold to Ramoco affiliates 48 of the 61 properties that had been subject to the Ramoco Lease. The total consideration for the 48 properties we sold to Ramoco affiliates, including a seller financing mortgage of $13,900,000, was $15,000,000. In accordance with ASC 360-20, Property, Plant and Equipment—Real Estate Sales, we evaluated the accounting for the gain on sales of these assets, noting that the buyer’s initial investment did not represent the amount required for recognition of the gain by the full accrual method. Accordingly, we recorded a deferred gain of $3,900,000 related to the Ramoco sale. The deferred gain was recorded in accounts payable and accrued liabilities on our balance sheet at December 31, 2015. On April 28, 2016, Ramoco affiliates repaid the entire seller financing mortgage and, as a result, the deferred gain was recognized in our consolidated statements of operations for the year ended December 31, 2016.

Fair Value Hierarchy

The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates of fair value that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the consolidated financial statements and revenues and expenses during the period reported using a hierarchy (the “Fair Value Hierarchy”) that prioritizes the inputs to valuation techniques used to measure the fair value. The Fair Value Hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The levels of the Fair Value Hierarchy are as follows: “Level 1” – inputs that reflect

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unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date; “Level 2” – inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active; and “Level 3” – inputs that are unobservable. Certain types of assets and liabilities are recorded at fair value either on a recurring or non-recurring basis. Assets required or elected to be marked-to-market and reported at fair value every reporting period are valued on a recurring basis. Other assets not required to be recorded at fair value every period may be recorded at fair value if a specific provision or other impairment is recorded within the period to mark the carrying value of the asset to market as of the reporting date. Such assets are valued on a non-recurring basis.

We have mutual fund assets that are measured at fair value on a recurring basis using Level 1 inputs. We have a Supplemental Retirement Plan for executives. The amounts held in trust under the Supplemental Retirement Plan using Level 2 inputs may be used to satisfy claims of general creditors in the event of our or any of our subsidiaries’ bankruptcy. We have liability to the executives participating in the Supplemental Retirement Plan for the participant account balances equal to the aggregate of the amount invested at the executives’ direction and the income earned in such mutual funds.

We have certain real estate assets that are measured at fair value on a non-recurring basis using Level 3 inputs as of December 31, 2016 and 2015, of $780,000 and $1,264,000, respectively, where impairment charges have been recorded. Due to the subjectivity inherent in the internal valuation techniques used in estimating fair value, the amounts realized from the sale of such assets may vary significantly from these estimates.

The following summarizes as of December 31, 2016, our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	565	$	—	$	—	$	565
Liabilities:
Deferred compensation	$	—	$	565	$	—	$	565

The following summarizes as of December 31, 2015, our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	888	$	—	$	—	$	888
Liabilities:
Deferred compensation	$	—	$	888	$	—	$	888

Fair Value Disclosure of Financial Instruments

All of our financial instruments are reflected in the accompanying consolidated balance sheets at amounts which, in our estimation based upon an interpretation of available market information and valuation methodologies, reasonably approximate their fair values, except those separately disclosed in the notes to our consolidated financial statements.

Environmental Remediation Obligations

We record the fair value of a liability for an environmental remediation obligation as an asset and liability when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. Environmental remediation obligations are estimated based on the level and impact of contamination at each property. The accrued liability is the aggregate of the best estimate of the fair value of cost for each component of the liability. The accrued liability is net of recoveries of environmental costs from state UST remediation funds with respect to both past and future environmental spending based on estimated recovery rates developed from prior experience with the funds. Net environmental liabilities are currently measured based on their expected future cash flows which have been adjusted for inflation and discounted to present value. We accrue for environmental liabilities that we believe are allocable to other potentially responsible parties if it becomes probable that the other parties will not pay their environmental remediation obligations.

Litigation

Legal fees related to litigation are expensed as legal services are performed. We provide for litigation accruals, including certain litigation related to environmental matters, when it is probable that a liability has been incurred and a reasonable estimate of the liability can be made. If the estimate of the liability can only be identified as a range, and no amount within the range is a better estimate than any other amount, the minimum of the range is accrued for the liability. We accrue our share of environmental litigation

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liabilities based on our assumptions of the ultimate allocation method and share that will be used when determining our share of responsibility.

Income Taxes

We and our subsidiaries file a consolidated federal income tax return. Effective January 1, 2001, we elected to qualify, and believe we are operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, we generally will not be subject to federal income tax on qualifying REIT income, provided that distributions to our shareholders equal at least the amount of our taxable income as defined under the Internal Revenue Code. We accrue for uncertain tax matters when appropriate. The accrual for uncertain tax positions is adjusted as circumstances change and as the uncertainties become more clearly defined, such as when audits are settled or exposures expire. Tax returns for the years 2013, 2014 and 2015, and tax returns which will be filed for the year ended 2016, remain open to examination by federal and state tax jurisdictions under the respective statute of limitations.

New Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. ASU 2014-09 was effective for the first interim period within annual reporting periods beginning after December 15, 2016, and early adoption was not permitted. On July 9, 2015, the FASB decided to delay the effective date of ASU 2014-09 by one year making it effective for the first interim period within annual reporting periods beginning after December 15, 2017. Early adoption is permitted as of the original effective date. We are currently evaluating this guidance and do not expect the adoption of ASU 2014-09 will have a material impact on our consolidated financial statements.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. ASU 2014-15 is effective for annual periods ending after December 15, 2016, including interim reporting periods thereafter. We adopted this guidance in 2016 and there was no impact to our consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. Lessor accounting will remain similar to lessor accounting under previous GAAP, while aligning with the FASB’s new revenue recognition guidance. ASU 2016-02 is effective for the Company beginning January 1, 2019. Early adoption of ASU 2016-02 is permitted. The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. We are currently evaluating the impact the adoption of ASU 2016-02 will have on our consolidated financial statements.

On March 30, 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which amends the current stock compensation guidance. The amendments simplify the accounting for taxes related to stock based compensation, including adjustments as to how excess tax benefits and a company’s payments for tax withholdings should be classified. The standard is effective for fiscal periods beginning after December 15, 2016, with early adoption permitted. The adoption of ASU 2016-09 will not have an impact on our consolidated financial statements.

On May 9, 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”), which clarifies and provides practical expedients for certain aspects of ASU 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities may elect to adopt the amendments as of the original effective date; however, adoption is required for annual reporting periods beginning after December 15, 2017. We are currently evaluating the impact the adoption of ASU 2016-12 will have on our consolidated financial statements.

On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurements of Credit Losses on Financial Instruments (“ASU 2016-13”) to amend the accounting for credit losses for certain financial instruments. Under the new guidance, an entity recognizes its estimate of expected credit losses as an allowance, which the FASB believes will result in more timely recognition of such losses. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the impact the adoption of ASU 2016-13 will have on our consolidated financial statements.

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In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 is intended to clarify the presentation of cash receipts and payments in specific situations. The amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods, and early adoption is permitted. We are currently evaluating the impact the adoption of ASU 2016-15 will have on our consolidated financial statements.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”). ASU 2016-18 requires that amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the total beginning and ending amounts for the periods shown on the statement of cash flows. ASU 2016-18 will be effective beginning January 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We early adopted ASU 2016-18 on January 1, 2017. Upon adoption, we will include amounts generally described as restricted cash within the beginning-of-period, change and end-of-period total amounts on the statement of cash flows rather than within an activity on the statement of cash flows.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. We early adopted ASU 2017-01 on January 1, 2017. The adoption of this standard will result in less real estate acquisitions qualifying as businesses and, accordingly, acquisition costs for those acquisitions that are not businesses will be capitalized rather than expensed.

NOTE 2. — LEASES

As of December 31, 2016, we owned 740 properties and leased 89 properties from third-party landlords. Our 829 properties are located in 23 states across the United States and Washington, D.C. Substantially all of our properties are leased on a triple-net basis primarily to petroleum distributors, convenience store retailers and, to a lesser extent, to individual operators. Generally, our tenants supply fuel and either operate our properties directly or sublet our properties to operators who operate their convenience stores, gasoline stations, automotive repair service facilities or other businesses at our properties. Our triple-net tenants are responsible for the payment of all taxes, maintenance, repairs, insurance and other operating expenses relating to our properties, and are also responsible for environmental contamination occurring during the terms of their leases and in certain cases also for environmental contamination that existed before their leases commenced. See Note 5 for additional information regarding environmental obligations. Substantially all of our tenants’ financial results depend on the sale of refined petroleum products and, to a lesser extent, convenience store sales or rental income from their subtenants. As a result, our tenants’ financial results are highly dependent on the performance of the petroleum marketing industry, which is highly competitive and subject to volatility. During the terms of our leases, we monitor the credit quality of our triple-net tenants by reviewing their published credit rating, if available, reviewing publicly available financial statements, or reviewing financial or other operating statements which are delivered to us pursuant to applicable lease agreements, monitoring news reports regarding our tenants and their respective businesses, and monitoring the timeliness of lease payments and the performance of other financial covenants under their leases.

Revenues from rental properties included in continuing operations for the years ended December 31, 2016, 2015 and 2014 were $97,939,000, $92,889,000 and $82,971,000, respectively. Rental income contractually due or received from our tenants in revenues from rental properties included in continuing operations was $94,522,000, $88,358,000 and $77,720,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

In accordance with GAAP, we recognize rental revenue in amounts which vary from the amount of rent contractually due or received during the periods presented. As a result, revenues from rental properties include non-cash adjustments recorded for deferred rental revenue due to the recognition of rental income on a straight-line basis over the current lease term, the net amortization of above-market and below-market leases, rental income recorded under direct financing leases using the effective interest method which produces a constant periodic rate of return on the net investments in the leased properties and the amortization of deferred lease incentives (the “Revenue Recognition Adjustments”). Revenue Recognition Adjustments included in revenues from rental properties in continuing operations were $3,417,000, $4,531,000 and $5,251,000 for the years ended December 2016, 2015 and 2014, respectively. We provide reserves for a portion of the recorded deferred rent receivable if circumstances indicate that a tenant will not make all of its contractual lease payments during the current lease term. Our assessments and assumptions regarding the recoverability of the deferred rent receivable are reviewed on an ongoing basis and such assessments and assumptions are subject to change. There were no deferred rent receivable reserves at December 31, 2016 and 2015, respectively.

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Tenant reimbursements, which consist of real estate taxes and other municipal charges paid by us which were reimbursable by our tenants pursuant to the terms of triple-net lease agreements, included in continuing operations were $13,784,000, $14,146,000 and $13,777,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

We incurred $148,000, $120,000 and $60,000 of lease origination costs for the years ended December 31, 2016, 2015 and 2014, respectively. This deferred expense is recognized on a straight-line basis as amortization expense in our consolidated statements of operations over the terms of the various leases.

The components of the $92,097,000 investment in direct financing leases as of December 31, 2016, are minimum lease payments receivable of $167,064,000 plus unguaranteed estimated residual value of $13,979,000 less unearned income of $88,946,000. The components of the $94,098,000 investment in direct financing leases as of December 31, 2015, are minimum lease payments receivable of $179,372,000 plus unguaranteed estimated residual value of $13,979,000 less unearned income of $99,253,000.

Future contractual minimum annual rentals receivable from our tenants, which have terms in excess of one year as of December 31, 2016, are as follows (in thousands):

YEAR ENDING DECEMBER 31,	OPERATING LEASES		DIRECT FINANCING LEASES		TOTAL
2017	$	81,784	$	12,622	$	94,406
2018		81,508		12,872		94,380
2019		81,346		13,079		94,425
2020		76,936		13,375		90,311
2021		71,523		13,552		85,075
Thereafter	$	569,111	$	101,564	$	670,675

We have obligations to lessors under non-cancelable operating leases which have terms in excess of one year, principally for convenience stores and gasoline stations. The leased properties have a remaining lease term averaging approximately 11 years, including renewal options. Future minimum annual rentals payable under such leases, excluding renewal options, are as follows: 2017 — $6,246,000, 2018 — $5,548,000, 2019 — $4,620,000, 2020 — $3,494,000, 2021 — $2,573,000 and $3,277,000 thereafter.

Rent expense, substantially all of which consists of minimum rentals on non-cancelable operating leases, amounted to $5,376,000, $5,918,000 and $6,088,000 for the years ended December 31, 2016, 2015 and 2014, respectively, and is included in property costs using the straight-line method. Rent received under subleases for the years ended December 31, 2016, 2015 and 2014 was $9,153,000, $9,653,000 and $10,358,000, respectively.

Major Tenants

As of December 31, 2016, we had three significant tenants by revenue:

• We leased 166 convenience store and gasoline station properties in three separate unitary leases and three stand-alone leases to subsidiaries of Global Partners LP (NYSE: GLP) (“Global Partners”). Two of these leases were assigned to subsidiaries of Global Partners in June 2015 by our former tenants, White Oak Petroleum, LLC and Big Apple Petroleum Realty, LLC (both affiliates of Capitol Petroleum Group, LLC). In the aggregate, our leases with subsidiaries of Global Partners represented 21% of our total revenues for the years ended December 31, 2016 and 2015. All of our unitary leases with subsidiaries of Global Partners are guaranteed by the parent company.

• We leased 77 convenience store and gasoline station properties pursuant to three separate unitary leases to Apro, LLC (d/b/a “United Oil”). In the aggregate, our leases with United Oil represented 15% and 9% of our total revenues for the years ended December 31, 2016 and 2015, respectively. See Note 12 for additional information regarding the United Oil Transaction. See Item 9B in this Form 10-K for selected combined audited financial data of United Oil.

• We leased 79 convenience store and gasoline station properties pursuant to three separate unitary leases to subsidiaries of Chestnut Petroleum Dist., Inc. (“Chestnut Petroleum”). In the aggregate, our leases with subsidiaries of Chestnut Petroleum represented 15% and 16% of our total revenues for the years ended December 31, 2016 and 2015, respectively. The largest of these unitary leases, covering 57 of our properties, is guaranteed by the parent company, its principals and numerous Chestnut Petroleum affiliates.

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Marketing and the Master Lease

As of December 31, 2016, 391 of the properties we own or lease, were previously leased to Getty Petroleum Marketing Inc. (“Marketing”) pursuant to a master lease (the “Master Lease”). In December 2011, Marketing filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court. The Master Lease was terminated effective April 30, 2012, and in July 2012, the Bankruptcy Court approved Marketing’s Plan of Liquidation and appointed a trustee (the “Liquidating Trustee”) to oversee liquidation of the Marketing estate (the “Marketing Estate”).

As part of Marketing’s bankruptcy proceeding, we maintained significant pre-petition and post-petition unsecured claims against Marketing. On March 3, 2015, we entered into a settlement agreement with the Liquidating Trustee of the Marketing Estate to resolve claims asserted by us in Marketing’s bankruptcy case (the “Settlement Agreement”). The Settlement Agreement was approved by an order of the U.S. Bankruptcy Court, and, on April 22, 2015, we received a distribution from the Marketing Estate of $6,800,000 on account of our general unsecured claims. The Settlement Agreement also resolved a dispute relating to the balance of payment due to us pursuant to our agreement to fund a lawsuit that was brought by the Liquidating Trustee against Lukoil Americas Corporation and related entities and individuals for the benefit of Marketing’s creditors. As a result, on April 22, 2015, we also received an additional distribution of $550,000 from the Marketing Estate in full resolution of the Litigation Funding Agreement dispute.

On October 19, 2015, the U.S. Bankruptcy Court entered a final decree closing the bankruptcy case of the Marketing Estate. As a result, on November 3, 2015, we received a final distribution from the Marketing Estate of $10,800,000 on account of our general unsecured claims. The $18,177,000 received from the Marketing Estate for the year ended December 31, 2015, is included in other income on our consolidated statements of operations. We do not expect to receive any further distributions from the Marketing Estate.

As of December 31, 2016, we have entered into long-term triple-net leases with petroleum distributors for 15 separate property portfolios comprising 350 properties in the aggregate and 24 properties leased as single unit triple-net leases, that were previously leased to Marketing. The long-term triple-net leases with petroleum distributors are unitary triple-net lease agreements generally with an initial term of 15 to 20 years and options for successive renewal terms of up to 20 years. Rent is scheduled to increase at varying intervals during both the initial and renewal terms of our leases. Several of the leases provide for additional rent based on the aggregate volume of fuel sold. In addition, the majority of the leases require the tenants to make capital expenditures at our properties, substantially all of which are related to the replacement of USTs that are owned by our tenants. As of December 31, 2016, we have a remaining commitment to fund up to $10,231,000 in the aggregate with our tenants for our portion of such capital expenditures. Our commitment provides us with the option to either reimburse our tenants, or to offset rent when these capital expenditures are made. This deferred expense is recognized on a straight-line basis as a reduction of rental revenue in our consolidated statements of operations over the terms of the various leases.

As part of the triple-net leases for properties previously leased to Marketing, we transferred title of the USTs to our tenants, and the obligation to pay for the retirement and decommissioning or removal of USTs at the end of their useful lives or earlier if circumstances warranted was fully or partially transferred to our new tenants. We remain contingently liable for this obligation in the event that our tenants do not satisfy their responsibilities. Accordingly, through December 31, 2016, we removed $13,769,000 of asset retirement obligations and $10,808,000 of net asset retirement costs related to USTs from our balance sheet. The cumulative net amount of $2,961,000 is recorded as deferred rental revenue and will be recognized on a straight-line basis as additional revenues from rental properties over the terms of the various leases.

NECG Lease Restructuring

On May 1, 2012, we entered into a lease with NECG Holdings Corp (“NECG”) covering 84 properties formerly leased to Marketing in Connecticut, Massachusetts and Rhode Island (the “NECG Lease”). Eviction proceedings against a holdover group of former subtenants who continued to occupy properties subject to the NECG Lease had a material adverse impact on NECG’s operations and profitability. On January 27, 2015, the Connecticut Supreme Court, in a written opinion, affirmed the Superior Court rulings in favor of NECG and us. As a result, we or NECG regained possession of all of the locations that were still subject to appeal.

We had previously entered into a lease modification agreement with NECG which deferred a portion of NECG’s rent due to us and allowed us to remove properties from the NECG Lease. As a result, as of December 31, 2016, there were three properties remaining in the NECG Lease. On January 6, 2017, the three remaining properties subject to the NECG Lease were re-leased to an existing tenant and the NECG Lease was terminated.

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NOTE 3. — COMMITMENTS AND CONTINGENCIES

Credit Risk

In order to minimize our exposure to credit risk associated with financial instruments, we place our temporary cash investments, if any, with high credit quality institutions. Temporary cash investments, if any, are currently held in an overnight bank time deposit with JPMorgan Chase Bank, N.A. and these balances, at times, exceed federally insurable limits.

Legal Proceedings

We are subject to various legal proceedings and claims which arise in the ordinary course of our business. As of December 31, 2016 and 2015, we had accrued $11,768,000 and $11,265,000, respectively, for certain of these matters which we believe were appropriate based on information then currently available. We have recorded provisions for litigation losses aggregating $801,000 and $374,000 for certain of these matters during the years ended December 31, 2016 and 2015, respectively. We are unable to estimate ranges in excess of the amount accrued with any certainty for these matters. It is possible that our assumptions regarding the ultimate allocation method and share of responsibility that we used to allocate environmental liabilities may change, which may result in our providing an accrual, or adjustments to the amounts recorded, for environmental litigation accruals. Matters related to our former Newark, New Jersey Terminal and the Lower Passaic River and MTBE litigations in the states of New Jersey and Pennsylvania, in particular, could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Matters related to our former Newark, New Jersey Terminal and the Lower Passaic River

In September 2003, we received a directive (the “Directive”) issued by the New Jersey Department of Environmental Protection (“NJDEP”) under the New Jersey Spill Compensation and Control Act. The Directive indicated that we are one of approximately 66 potentially responsible parties for alleged natural resource damages resulting from the discharges of hazardous substances along the lower Passaic River (the “Lower Passaic River”). The Directive provides, among other things, that the named recipients must conduct an assessment of the natural resources that have been injured by discharges into the Lower Passaic River and must implement interim compensatory restoration for the injured natural resources. The NJDEP alleges that our liability arises from alleged discharges originating from our former Newark, New Jersey Terminal site (which was sold in October 2013). We responded to the Directive by asserting that we are not liable. There has been no material activity and/or communications by the NJDEP with respect to the Directive since early after its issuance.

In May 2007, the United States Environmental Protection Agency (“EPA”) entered into an Administrative Settlement Agreement and Order on Consent (“AOC”) with over 70 parties to perform a Remedial Investigation and Feasibility Study (“RI/FS”) for a 17-mile stretch of the Lower Passaic River in New Jersey. The RI/FS is intended to address the investigation and evaluation of alternative remedial actions with respect to alleged damages to the Lower Passaic River. Most of the parties to the AOC, including us, are also members of a Cooperating Parties Group (“CPG”). The CPG agreed to an interim allocation formula for purposes of allocating the costs to complete the RI/FS among its members, with the understanding that this agreed-upon allocation formula is not binding on the parties in terms of any potential liability for the costs to remediate the Lower Passaic River. The CPG submitted to the EPA its draft RI/FS in 2015. The draft RI/FS set forth various alternatives for remediating the entire 17-mile stretch of the Lower Passaic River, and provides that cost estimate for the preferred remedial action presented therein is in the range of approximately $483,000,000 to $725,000,000. The EPA is still evaluating the draft RI/FS report submitted by the CPG.

In addition to the RI/FS activities, other actions relating to the investigation and/or remediation of the Lower Passaic River have proceeded as follows. First, in June 2012, certain members of the CPG entered into an Administrative Settlement Agreement and Order on Consent (“10.9 AOC”) effective June 18, 2012, to perform certain remediation activities, including removal and capping of sediments at the river mile 10.9 area and certain testing. The EPA also issued a Unilateral Order to Occidental Chemical Corporation (“Occidental”) directing Occidental to participate and contribute to the cost of the river mile 10.9 work. Concurrent with the CPG’s work on the RI/FS, on April 11, 2014, the EPA issued a draft Focused Feasibility Study (“FFS”) with proposed remedial alternatives to remediate the lower 8-miles of the 17-mile stretch of the Lower Passaic River. The FFS was subject to public comments and objections, and on March 4, 2016, the EPA issued its Record of Decision (“ROD”) for the lower 8-miles selecting a remedy that would involve bank-to-bank dredging and installing an engineered cap with an estimated cost of $1,380,000,000. On March 31, 2016, we and more than 100 other potentially responsible parties received from the EPA a “Notice of Potential Liability and Commencement of Negotiations for Remedial Design” (“Notice”), which informed the recipients that the EPA intends to seek an Administrative Order on Consent and Settlement Agreement with Occidental for remedial design of the remedy selected in the ROD, after which the EPA plans to begin negotiations with “major” potentially responsible parties for implementation and/or payment of the selected remedy. The Notice also stated that the EPA believes that some of the potentially responsible parties and other parties not yet identified as potentially responsible parties will be eligible for a cash out settlement with the EPA. On October 5, 2016, the EPA

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announced that it had entered into a settlement agreement with Occidental which requires that Occidental perform the remedial design (which is expected to take four (4) years to complete) for the remedy selected for the lower 8-miles of the Lower Passaic River.

Many uncertainties remain regarding how the EPA intends to implement the ROD. We anticipate that performance of the EPA’s selected remedy will be subject to future negotiations, potential enforcement proceedings and/or possible litigation. The RI/FS, AOC, 10.9 AOC and Notice do not obligate us to fund or perform remedial action contemplated by either the ROD or RI/FS and do not resolve liability issues for remedial work or the restoration of or compensation for alleged natural resource damages to the Lower Passaic River, which are not known at this time. Our ultimate liability, if any, in the pending and possible future proceedings pertaining to the Lower Passaic River is uncertain and subject to numerous contingencies which cannot be predicted and the outcome of which are not yet known.

MTBE Litigation – State of New Jersey

We are defending against a lawsuit brought by various governmental agencies of the State of New Jersey, including the NJDEP alleging various theories of liability due to contamination of groundwater with methyl tertiary butyl ether (a fuel derived from methanol, commonly referred to as “MTBE”) involving multiple locations throughout the State of New Jersey (the “New Jersey MDL Proceedings”). The complaint names as defendants approximately 50 petroleum refiners, manufacturers, distributors and retailers of MTBE or gasoline containing MTBE. The State of New Jersey is seeking reimbursement of significant clean-up and remediation costs arising out of the alleged release of MTBE containing gasoline in the State of New Jersey and is asserting various natural resource damage claims as well as liability against the owners and operators of gasoline station properties from which the releases occurred. Several of the named defendants have already settled the case against them. These cases have been transferred to the United States District Court for the District of New Jersey for pre-trial proceedings and trial, although a trial date has not yet been set. We continue to engage in settlement negotiations and a dialogue with the plaintiff’s counsel to educate them on the unique role of the Company and our business as compared to other defendants in the litigation, and with respect to certain facts applicable to our activities and gasoline stations, and affirmative defenses available to us, which we believe have not been sufficiently developed in the proceedings. In addition, we are pursuing claims for reimbursement of monies expended in the defense and settlement of certain MTBE cases under pollution insurance policies previously obtained by us and Marketing and under which we believe we are entitled to coverage, however, we have not yet confirmed whether and to what extent such coverage may actually be available. Although the ultimate outcome of the New Jersey MDL Proceedings cannot be ascertained at this time, we believe it is probable that this litigation will be resolved in a manner that is unfavorable to us. We are unable to estimate the range of loss in excess of the amount accrued with certainty for the New Jersey MDL Proceedings as we do not believe that plaintiffs’ settlement proposal is realistic and there remains uncertainty as to the allegations in this case as they relate to us, our defenses to the claims, our rights to indemnification or contribution from other parties and the aggregate possible amount of damages for which we may be held liable. It is possible that losses related to the New Jersey MDL Proceedings in excess of the amounts accrued as of December 31, 2016, could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

MTBE Litigation – State of Pennsylvania

On July 7, 2014, our subsidiary, Getty Properties Corp., was served with a complaint filed by the Commonwealth of Pennsylvania (the “State”) in the Court of Common Pleas, Philadelphia County relating to alleged statewide MTBE contamination in Pennsylvania (the “Complaint”). The Complaint names us and more than 50 other defendants, including Exxon Mobil, various BP entities, Chevron, Citgo, Gulf, Lukoil Americas, Getty Petroleum Marketing Inc., Marathon, Hess, Shell Oil, Texaco, Valero, as well as other smaller petroleum refiners, manufacturers, distributors and retailers of MTBE or gasoline containing MTBE. The Complaint seeks compensation for natural resource damages and for injuries sustained as a result of “defendants’ unfair and deceptive trade practices and acts in the marketing of MTBE and gasoline containing MTBE.” The plaintiffs also seek to recover costs paid or incurred by the State to detect, treat and remediate MTBE from public and private water wells and groundwater. The plaintiffs assert causes of action against all defendants based on multiple theories, including strict liability – defective design; strict liability – failure to warn; public nuisance; negligence; trespass; and violation of consumer protection law.

The case was filed in the Court of Common Pleas, Philadelphia County, but was removed by defendants to the United States District Court for the Eastern District of Pennsylvania and then transferred to the United States District Court for the Southern District of New York so that it may be managed as part of the ongoing MTBE MDL. Plaintiffs have recently filed a Second Amended Complaint naming additional defendants and adding factual allegations intended to bolster their claims against the defendants. We have joined with other defendants in the filing of a motion to dismiss the claims against us. This motion is pending with the Court. We intend to defend vigorously the claims made against us. Our ultimate liability, if any, in this proceeding is uncertain and subject to numerous contingencies which cannot be predicted and the outcome of which are not yet known.

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NOTE 4. — CREDIT AGREEMENT AND SENIOR UNSECURED NOTES

Credit Agreement

On June 2, 2015, we entered into a $225,000,000 senior unsecured credit agreement (the “Credit Agreement”) with a group of banks led by Bank of America, N.A. (the “Bank Syndicate”). The Credit Agreement consists of a $175,000,000 revolving facility (the “Revolving Facility”), which is scheduled to mature in June 2018 and a $50,000,000 term loan (the “Term Loan”), which is scheduled to mature in June 2020. Subject to the terms of the Credit Agreement and our continued compliance with its provisions, we have the option to (a) extend the term of the Revolving Facility for one additional year to June 2019 and (b) increase by $75,000,000 the amount of the Revolving Facility to $250,000,000.

The Credit Agreement incurs interest and fees at various rates based on our net debt to EBITDA ratio (as defined in the Credit Agreement) at the end of each quarterly reporting period. The Revolving Facility permits borrowings at an interest rate equal to the sum of a base rate plus a margin of 0.95% to 2.25% or a LIBOR rate plus a margin of 1.95% to 3.25%. The annual commitment fee on the undrawn funds under the Revolving Facility is 0.25% to 0.30%. The Term Loan bears interest at a rate equal to the sum of a base rate plus a margin of 0.90% to 2.20% or a LIBOR rate plus a margin of 1.90% to 3.20%. The Credit Agreement does not provide for scheduled reductions in the principal balance prior to its maturity. As of December 31, 2016 and 2015, borrowings under the Revolving Facility were $75,000,000 and $94,000,000, respectively, and borrowings under the Term Loan were $50,000,000. The interest rate on Credit Agreement borrowings at December 31, 2016, was approximately 3.10% per annum.

In April 2015, the FASB issued guidance ASU 2015-03, which amends Topic 835, Other Presentation Matters. The amendments in ASU 2015-03 require that debt issuance costs be reported on the balance sheet as a direct reduction of the face amount of the debt instrument they relate to, and should not be classified as a deferred charge, as was previously required under the Accounting Standards Codification. We adopted ASU 2015-03 retrospectively as of January 1, 2016. As of December 31, 2016 and 2015, we had $1,199,000 and $1,900,000, respectively, of debt issuance costs included within borrowings under credit agreement.

The Credit Agreement contains customary financial covenants such as availability, leverage and coverage ratios and minimum tangible net worth, as well as limitations on restricted payments, which may limit our ability to incur additional debt or pay dividends. The Credit Agreement contains customary events of default, including cross default provisions under the Restated Prudential Note Purchase Agreement (as defined below), change of control and failure to maintain REIT status. Any event of default, if not cured or waived in a timely manner, would increase by 200 basis points (2.00%) the interest rate we pay under the Credit Agreement and prohibit us from drawing funds against the Credit Agreement and could result in the acceleration of our indebtedness under the Credit Agreement and could also give rise to an event of default and could result in the acceleration of our indebtedness under the Restated Prudential Note Purchase Agreement. We may be prohibited from drawing funds against the Revolving Facility if there is a material adverse effect on our business, assets, prospects or condition.

Senior Unsecured Notes

On June 2, 2015, we entered into an amended and restated note purchase agreement (the “Restated Prudential Note Purchase Agreement”) amending and restating our existing senior secured note purchase agreement with The Prudential Insurance Company of America (“Prudential”) and an affiliate of Prudential. Pursuant to the Restated Prudential Note Purchase Agreement, Prudential and its affiliate released the mortgage liens and other security interests held by Prudential and its affiliate on certain of our properties and assets, redenominated the existing notes in the aggregate amount of $100,000,000 issued under the existing note purchase agreement as senior unsecured Series A Notes, and issued $75,000,000 of senior unsecured Series B Notes bearing interest at 5.35% and maturing in June 2023 to Prudential and certain affiliates of Prudential. The Series A Notes continue to bear interest at 6.0% and mature in February 2021. The Restated Prudential Note Purchase Agreement does not provide for scheduled reductions in the principal balance of either the Series A Notes or the Series B Notes prior to their respective maturities. As of December 31, 2016 and 2015, borrowings under the Restated Prudential Note Purchase Agreement were $175,000,000.

In April 2015, the FASB issued guidance ASU 2015-03, which amends Topic 835, Other Presentation Matters. The amendments in ASU 2015-03 require that debt issuance costs be reported on the balance sheet as a direct reduction of the face amount of the debt instrument they relate to, and should not be classified as a deferred charge, as was previously required under the Accounting Standards Codification. We adopted ASU 2015-03 retrospectively as of January 1, 2016. As of December 31, 2016 and 2015, we had $257,000 and $311,000, respectively, of debt issuance costs included within senior unsecured notes.

The Restated Prudential Note Purchase Agreement contains customary financial covenants such as leverage and coverage ratios and minimum tangible net worth, as well as limitations on restricted payments, which may limit our ability to incur additional debt or pay dividends. The Restated Prudential Note Purchase Agreement contains customary events of default, including default under the Credit Agreement and failure to maintain REIT status. Any event of default, if not cured or waived, would increase by 200 basis points (2.00%) the interest rate we pay under the Restated Prudential Note Purchase Agreement and could result in the acceleration of

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our indebtedness under the Restated Prudential Note Purchase Agreement and could also give rise to an event of default and could result in the acceleration of our indebtedness under our Credit Agreement.

As of December 31, 2016, we are in compliance with all of the material terms of the Credit Agreement and Restated Prudential Note Purchase Agreement, including the various financial covenants described above.

As of December 31, 2016, the maturity dates and amounts outstanding under the Credit Agreement and the Restated Prudential Note Purchase Agreement are as follows:

	Maturity Date		Amount
Credit Agreement—Revolving Facility		June 2018	$	75,000,000
Credit Agreement—Term Loan		June 2020	$	50,000,000
Restated Prudential Note Purchase Agreement—Series A Notes		February 2021	$	100,000,000
Restated Prudential Note Purchase Agreement—Series B Notes		June 2023	$	75,000,000

As of December 31, 2016 and 2015, the carrying value of the borrowings outstanding under the Credit Agreement approximated fair value. As of December 31, 2016, the fair value of the borrowings under the Prudential Series A Notes and Series B Notes were $104,900,000 and $76,100,000, respectively. As of December 31, 2015, the fair value of the borrowings under the Prudential Series A Notes and Series B Notes were $105,800,000 and $76,400,000, respectively.

The fair value of the borrowings outstanding as of December 31, 2016 and 2015, was determined using a discounted cash flow technique that incorporates a market interest yield curve with adjustments for duration, optionality, risk profile and projected average borrowings outstanding or borrowings outstanding, which are based on unobservable inputs within Level 3 of the Fair Value Hierarchy.

NOTE 5. — ENVIRONMENTAL OBLIGATIONS

We are subject to numerous federal, state and local laws and regulations, including matters relating to the protection of the environment such as the remediation of known contamination and the retirement and decommissioning or removal of long-lived assets including buildings containing hazardous materials, USTs and other equipment. Environmental costs are principally attributable to remediation costs which are incurred for, among other things, removing USTs, excavation of contaminated soil and water, installing, operating, maintaining and decommissioning remediation systems, monitoring contamination and governmental agency compliance reporting required in connection with contaminated properties. We seek reimbursement from state UST remediation funds related to these environmental costs where available. In July 2012, we purchased a ten-year pollution legal liability insurance policy covering substantially all of our properties for preexisting unknown environmental liabilities and new environmental events. The policy has a $50,000,000 aggregate limit and is subject to various self-insured retentions and other conditions and limitations. Our intention in purchasing this policy is to obtain protection predominantly for significant events. No assurances can be given that we will obtain a net financial benefit from this investment.

The estimated future costs for known environmental remediation requirements are accrued when it is probable that a liability has been incurred and a reasonable estimate of fair value can be made. The accrued liability is the aggregate of the best estimate of the fair value of cost for each component of the liability net of estimated recoveries from state UST remediation funds considering estimated recovery rates developed from prior experience with the funds.

We enter into leases and various other agreements which contractually allocate responsibility between the parties for known and unknown environmental liabilities at or relating to the subject properties. We are contingently liable for these environmental obligations in the event that our counterparty to the lease or other agreement does not satisfy them. It is possible that our assumptions regarding the ultimate allocation method and share of responsibility that we used to allocate environmental liabilities may change, which may result in material adjustments to the amounts recorded for environmental litigation accruals and environmental remediation liabilities. We are required to accrue for environmental liabilities that we believe are allocable to others under our leases and other agreements if we determine that it is probable that our counterparty will not meet its environmental obligations. We may ultimately be responsible to pay for environmental liabilities as the property owner if our counterparty fails to pay them. We assess whether to accrue for environmental liabilities based upon relevant factors including our tenants’ histories of paying for such obligations, our assessment of their financial ability, and their intent to pay for such obligations. However, there can be no assurance that our assessments are correct or that our tenants who have paid their obligations in the past will continue to do so. The ultimate resolution of these matters could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

For all of our triple-net leases, our tenants are contractually responsible for compliance with environmental laws and regulations, removal of USTs at the end of their lease term (the cost of which in certain cases is partially borne by us) and remediation of any environmental contamination that arises during the term of their tenancy. Under the terms of our leases covering properties previously leased to Marketing (substantially all of which commenced in 2012), we have agreed to be responsible for

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environmental contamination at the premises that was known at the time the lease commenced, and which existed prior to commencement of the lease and is discovered (other than as a result of a voluntary site investigation) during the first ten years of the lease term (or a shorter period for a minority of such leases). After expiration of such ten-year (or, in certain cases, shorter) period, responsibility for all newly discovered contamination, even if it relates to periods prior to commencement of the lease, is contractually allocated to our tenant. Our tenants at properties previously leased to Marketing are in all cases responsible for the cost of any remediation of contamination that results from their use and occupancy of our properties. Under substantially all of our other triple-net leases, responsibility for remediation of all environmental contamination discovered during the term of the lease (including known and unknown contamination that existed prior to commencement of the lease) is the responsibility of our tenant.

We anticipate that a majority of the USTs at properties previously leased to Marketing will be replaced over the next several years because these USTs are either at or near the end of their useful lives. For long-term, triple-net leases covering sites previously leased to Marketing, our tenants are responsible for the cost of removal and replacement of USTs and for remediation of contamination found during such UST removal and replacement, unless such contamination was found during the first ten years of the lease term and also existed prior to commencement of the lease. In those cases, we are responsible for costs associated with the remediation of such contamination. For properties that are vacant, we are responsible for costs associated with UST removals and for the cost of remediation of contamination found during the removal of USTs. We have also agreed to be responsible for environmental contamination that existed prior to the sale of certain properties assuming the contamination is discovered (other than as a result of a voluntary site investigation) during the first five years after the sale of the properties.

In the course of certain UST removals and replacements at properties previously leased to Marketing where we retained continuing responsibility for preexisting environmental obligations, previously unknown environmental contamination was and continues to be discovered. As a result, we have developed a reasonable estimate of fair value for the prospective future environmental liability resulting from preexisting unknown environmental contamination and accrued for these estimated costs. These estimates are based primarily upon quantifiable trends, which we believe allow us to make reasonable estimates of fair value for the future costs of environmental remediation resulting from the removal and replacement of USTs. Our accrual of the additional liability represents the best estimate of the fair value of cost for each component of the liability, net of estimated recoveries from state UST remediation funds, considering estimated recovery rates developed from prior experience with the funds. In arriving at our accrual, we analyzed the ages of USTs at properties where we would be responsible for preexisting contamination found within ten years after commencement of a lease (for properties subject to long-term triple-net leases) or five years from a sale (for divested properties), and projected a cost to closure for new environmental contamination. Based on these estimates, along with relevant economic and risk factors, at December 31, 2016 and 2015, we have accrued $45,009,000 and $45,443,000, respectively, for these future environmental liabilities related to preexisting unknown contamination. Our estimates are based upon facts that are known to us at this time and an assessment of the possible ultimate remedial action outcomes. It is possible that our assumptions, which form the basis of our estimates, regarding our ultimate environmental liabilities may change, which may result in our providing an accrual, or adjustments to the amounts recorded, for environmental remediation liabilities. Among the many uncertainties that impact the estimates are our assumptions, the necessary regulatory approvals for, and potential modifications of remediation plans, the amount of data available upon initial assessment of contamination, changes in costs associated with environmental remediation services and equipment, the availability of state UST remediation funds and the possibility of existing legal claims giving rise to additional claims. Additional environmental liabilities could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Environmental exposures are difficult to assess and estimate for numerous reasons, including the extent of contamination, alternative treatment methods that may be applied, location of the property which subjects it to differing local laws and regulations and their interpretations, as well as the time it takes to remediate contamination and receive regulatory approval. In developing our liability for estimated environmental remediation obligations on a property by property basis, we consider among other things, enacted laws and regulations, assessments of contamination and surrounding geology, quality of information available, currently available technologies for treatment, alternative methods of remediation and prior experience. Environmental accruals are based on estimates which are subject to significant change, and are adjusted as the remediation treatment progresses, as circumstances change and as environmental contingencies become more clearly defined and reasonably estimable. We expect to adjust the accrued liabilities for environmental remediation obligations reflected in our consolidated financial statements as they become probable and a reasonable estimate of fair value can be made.

We measure our environmental remediation liability at fair value based on expected future net cash flows, adjusted for inflation (using a range of 2.0% to 2.75%), and then discount them to present value (using a range of 4.0% to 7.0%). We adjust our environmental remediation liability quarterly to reflect changes in projected expenditures, changes in present value due to the passage of time and reductions in estimated liabilities as a result of actual expenditures incurred during each quarter. As of December 31, 2016, we had accrued a total of $74,516,000 for our prospective environmental remediation liability. This accrual includes (a) $29,507,000, which was our best estimate of reasonably estimable environmental remediation obligations and obligations to remove USTs for which we are the title owner, net of estimated recoveries and (b) $45,009,000 for future environmental liabilities related to preexisting unknown contamination. As of December 31, 2015, we had accrued a total of $84,345,000 for our prospective

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environmental remediation liability. This accrual includes (a) $38,902,000, which was our best estimate of reasonably estimable environmental remediation obligations and obligations to remove USTs for which we are the title owner, net of estimated recoveries and (b) $45,443,000 for future environmental liabilities related to preexisting unknown contamination.

Environmental liabilities are accreted for the change in present value due to the passage of time and, accordingly, $4,107,000, $4,829,000 and $3,046,000 of net accretion expense was recorded for the years ended December 31, 2016, 2015 and 2014, respectively, which is included in environmental expenses. In addition, during the years ended December 31, 2016, 2015 and 2014, we recorded credits to environmental expenses included in continuing and discontinued operations aggregating $7,007,000, $4,639,000 and $2,756,000, respectively, where decreases in estimated remediation costs exceeded the depreciated carrying value of previously capitalized asset retirement costs. Environmental expenses also include project management fees, legal fees and provisions for environmental litigation losses.

During the years ended December 31, 2016 and 2015, we increased the carrying value of certain of our properties by $11,346,000 and $12,285,000, respectively, due to increases in estimated environmental remediation costs. The recognition and subsequent changes in estimates in environmental liabilities and the increase or decrease in carrying values of the properties are non-cash transactions which do not appear on the face of the consolidated statements of cash flows. We recorded impairment charges aggregating $11,658,000 (consisting of $11,467,000 for known environmental liabilities and $191,000 for reserves for future environmental liabilities) and $12,548,000 (consisting of $10,398,000 for known environmental liabilities and $2,150,000 for reserves for future environmental liabilities) for the years ended December 31, 2016 and 2015, respectively, in continuing and discontinued operations for capitalized asset retirement costs. Capitalized asset retirement costs are being depreciated over the estimated remaining life of the UST, a ten-year period if the increase in carrying value is related to environmental remediation obligations or such shorter period if circumstances warrant, such as the remaining lease term for properties we lease from others. Depreciation and amortization expense related to capitalized asset retirement costs included in continuing and discontinued operations in our consolidated statements of operations for the years ended December 31, 2016, 2015 and 2014, were $5,126,000, $5,997,000 and $1,560,000, respectively. Capitalized asset retirement costs were $49,125,000 (consisting of $20,636,000 of known environmental liabilities and $28,489,000 of reserves for future environmental liabilities) and $51,393,000 (consisting of $20,939,000 of known environmental liabilities and $30,454,000 of reserves for future environmental liabilities) as of December 31, 2016 and 2015, respectively.

As part of the triple-net leases for our properties previously leased to Marketing, we transferred title of the USTs to our tenants, and the obligation to pay for the retirement and decommissioning or removal of USTs at the end of their useful lives or earlier if circumstances warranted was fully or partially transferred to our new tenants. We remain contingently liable for this obligation in the event that our tenants do not satisfy their responsibilities. Accordingly, through December 31, 2016, we removed $13,769,000 of asset retirement obligations and $10,808,000 of net asset retirement costs related to USTs from our balance sheet. The cumulative net amount of $2,961,000 is recorded as deferred rental revenue and will be recognized on a straight-line basis as additional revenues from rental properties over the terms of the various leases. See Note 2 for additional information.

We cannot predict what environmental legislation or regulations may be enacted in the future or how existing laws or regulations will be administered or interpreted with respect to products or activities to which they have not previously been applied. We cannot predict if state UST fund programs will be administered and funded in the future in a manner that is consistent with past practices and if future environmental spending will continue to be eligible for reimbursement at historical recovery rates under these programs. Compliance with more stringent laws or regulations, as well as more vigorous enforcement policies of the regulatory agencies or stricter interpretation of existing laws, which may develop in the future, could have an adverse effect on our financial position, or that of our tenants, and could require substantial additional expenditures for future remediation.

In light of the uncertainties associated with environmental expenditure contingencies, we are unable to estimate ranges in excess of the amount accrued with any certainty; however, we believe it is possible that the fair value of future actual net expenditures could be substantially higher than amounts currently recorded by us. Adjustments to accrued liabilities for environmental remediation obligations will be reflected in our consolidated financial statements as they become probable and a reasonable estimate of fair value can be made. Future environmental expenses could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

NOTE 6. — INCOME TAXES

Net cash paid for income taxes for the years ended December 31, 2016, 2015 and 2014 of $368,000, $341,000 and $316,000, respectively, includes amounts related to state and local income taxes for jurisdictions that do not follow the federal tax rules, which are provided for in property costs in our consolidated statements of operations.

Earnings and profits (as defined in the Internal Revenue Code) are used to determine the tax attributes of dividends paid to stockholders and will differ from income reported for consolidated financial statements purposes due to the effect of items which are reported for income tax purposes in years different from that in which they are recorded for consolidated financial statements purposes. The federal tax attributes of the common dividends for the years ended December 31, 2016, 2015 and 2014 were: ordinary

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income of 61.6%, 83.8% and 43.9%, capital gain distributions of 34.4%, 16.2% and 56.1% and non-taxable distributions of 4.0%, 0.0% and 0.0%, respectively.

To qualify for taxation as a REIT, we, among other requirements such as those related to the composition of our assets and gross income, must distribute annually to our stockholders at least 90% of our taxable income, including taxable income that is accrued by us without a corresponding receipt of cash. We cannot provide any assurance that our cash flows will permit us to continue paying cash dividends. Should the Internal Revenue Service (“IRS”) successfully assert that our earnings and profits were greater than the amount distributed, we may fail to qualify as a REIT; however, we may avoid losing our REIT status by paying a deficiency dividend to eliminate any remaining earnings and profits. We may have to borrow money or sell assets to pay such a deficiency dividend. Although tax returns for the years 2013, 2014 and 2015, and tax returns which will be filed for the year ended 2016, remain open to examination by federal and state tax jurisdictions under the respective statute of limitations, we have not currently identified any uncertain tax positions related to those years and, accordingly, have not accrued for uncertain tax positions as of December 31, 2016 or 2015. However, uncertain tax matters may have a significant impact on the results of operations for any single fiscal year or interim period.

In January 2014, we received a favorable ruling from the IRS indicating that a portion of the payments received from the Marketing Estate will be treated as qualifying income and the remainder will be excluded from gross income for the purposes of the REIT qualification gross income tests. Therefore, none of the cash flow received from the Marketing Estate was treated as non-qualifying income for purposes of the REIT qualification gross income tests. During 2015, we received distributions from Marketing Estate in the amount of $18,177,000, which was treated as non-qualifying income for REIT qualification gross income tests.

The IRS has allowed the use of a procedure, as a result of which we could satisfy the REIT income distribution requirement by making a distribution on our common stock comprised of (i) shares of our common stock having a value of up to 80% of the total distribution and (ii) cash in the remaining amount of the total distribution, in lieu of paying the distribution entirely in cash. In January 2015, we received a private letter ruling from the IRS that allows us to use such a procedure.

On November 25, 2015, our Board of Directors declared a special dividend of $0.22 per share (the “Special Dividend”). The Special Dividend was payable in either common stock or cash. The aggregate amount of cash to be distributed by the Company was a minimum of 20% of the total distribution and a maximum of 40% of the total distribution, with the remainder to be paid in shares of common stock. As a result, we issued 255,747 shares of common stock and made cash payments aggregating $2,941,000 to our shareholders.

NOTE 7. — SHAREHOLDERS’ EQUITY

A summary of the changes in shareholders’ equity for the years ended December 31, 2016, 2015 and 2014 is as follows (in thousands, except per share amounts):

	COMMON STOCK				ADDITIONAL PAID-IN		DIVIDENDS PAID IN EXCESS
	SHARES		AMOUNT		CAPITAL		OF EARNINGS			TOTAL
BALANCE, DECEMBER 31, 2013		33,397	$	334	$	462,397	$	(47,640	)	$	415,091
Net earnings								23,418			23,418
Dividends declared — $0.960 per share								(32,402	)		(32,402	)
Stock-based compensation		20		—		917		—			917
BALANCE, DECEMBER 31, 2014		33,417	$	334	$	463,314	$	(56,624	)	$	407,024
Net earnings								37,410			37,410
Dividends declared — $1.15 per share								(38,897	)		(38,897	)
Stock-based compensation		5		—		1,024		—			1,024
BALANCE, DECEMBER 31, 2015		33,422	$	334	$	464,338	$	(58,111	)	$	406,561
Net earnings								38,411			38,411
Dividends declared — $1.03 per share								(35,385	)		(35,385	)
Shares issued pursuant to ATM Program, net		653		7		14,879		—			14,886
Shares issued pursuant to stock dividends		256		3		4,409		—			4,412
Shares issued pursuant to dividend reinvestment		43		—		897		—			897
Stock-based compensation		19		—		1,136		—			1,136
BALANCE, DECEMBER 31, 2016		34,393	$	344	$	485,659	$	(55,085	)	$	430,918

We are authorized to issue 20,000,000 shares of preferred stock, par value $.01 per share, of which none were issued as of December 31, 2016 or December 31, 2015.

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ATM Program

In June 2016, we established an at-the-market equity offering program (the “ATM Program”), pursuant to which we may issue and sell shares of our common stock with an aggregate sales price of up to $125,000,000 through a consortium of banks acting as agents. Sales of the shares of common stock may be made, as needed, from time to time in at-the-market offerings as defined in Rule 415 of the Securities Act of 1933, including by means of ordinary brokers’ transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or as otherwise agreed to with the applicable agent. We incurred $360,000 of stock issuance costs in the establishment of the ATM Program. Stock issuance costs consisted primarily of underwriters’ fees and legal and accounting fees.

During the year ended December 31, 2016, we issued 653,000 shares and received net proceeds of $14,886,000. Future sales, if any, will depend on a variety of factors to be determined by us from time to time, including among others, market conditions, the trading price of our common stock, determinations by us of the appropriate sources of funding for us and potential uses of funding available to us.

Dividends

For the year ended December 31, 2016, we paid dividends of $40,643,000 or $1.22 per share (which consisted of $33,202,000 or $1.00 per share of regular quarterly cash dividends and a $7,441,000 or $0.22 per share special cash and stock dividend). For the year ended December 31, 2015, we paid dividends of $35,150,000 or $1.04 per share (which consisted of $30,425,000 or $0.90 per share of regular quarterly cash dividends and a $4,725,000 or $0.14 per share special cash dividend).

Dividend Reinvestment Plan

Our dividend reinvestment plan provides our common stockholders with a convenient and economical method of acquiring additional shares of common stock by reinvesting all or a portion of their dividend distributions. During the year ended December 31, 2016, we issued 42,681 shares under the dividend reinvestment plan and raised $897,000.

Stock-Based Compensation

Compensation cost for our stock-based compensation plans using the fair value method was $1,426,000, $1,090,000 and $917,000 for the years ended December 31, 2016, 2015 and 2014, respectively, and is included in general and administrative expenses in our consolidated statements of operations.

NOTE 8. — EMPLOYEE BENEFIT PLANS

The Getty Realty Corp. 2004 Omnibus Incentive Compensation Plan (the “2004 Plan”) provided for the grant of restricted stock, restricted stock units (“RSUs”), performance awards, dividend equivalents, stock payments and stock awards to all employees and members of the Board of Directors. In May 2014, an Amended and Restated 2004 Omnibus Incentive Compensation Plan (the “Restated Plan”) was approved at our annual meeting of shareholders. The Restated Plan maintained the 2004 Plan’s authorization to grant awards with respect to an aggregate of 1,000,000 shares of common stock, and extended the term of 2004 Plan to May 2019. The Restated Plan increased the aggregate maximum number of shares of common stock that may be subject to awards granted during any calendar year to 100,000. The Restated Plan also included several updates to the 2004 Plan in order to comply with the current Internal Revenue Code. RSUs awarded under the 2004 Plan vest on a cumulative basis ratably over a five-year period with the first 20% vesting occurring on the first anniversary of the date of the grant.

In addition, in April 2012, the Compensation Committee of the Board of Directors adopted, for 2012 only, a performance-based incentive compensation feature to our compensation program for named executive officers (“NEOs”) and other executives. Under the 2012 performance-based incentive compensation program, the RSUs that were granted, were granted on terms substantially consistent with the 2004 Plan, except for the relative vesting schedules. RSUs granted under the 2012 performance-based incentive compensation program vest on a cumulative basis, with the first 20% vesting occurring on May 1, 2013, and an additional 20% vesting on each May 1 thereafter, through May 1, 2017. In February 2013, the Compensation Committee granted a total of 35,000 RSUs to NEOs and other executives under the 2012 performance-based incentive compensation program. All such RSU grants include related dividend equivalents.

We awarded to employees and directors 86,600, 79,250 and 72,125 RSUs and dividend equivalents in 2016, 2015 and 2014, respectively. RSUs granted before 2009 provide for settlement upon termination of employment with the Company or termination of service from the Board of Directors. RSUs granted in 2009 and thereafter provide for settlement upon the earlier of ten years after grant or termination of employment with the Company. On the settlement date each vested RSU will have a value equal to one share of common stock and may be settled, at the sole discretion of the Compensation Committee, in cash or by the issuance of one share of common stock. The RSUs do not provide voting or other shareholder rights unless and until the RSU is settled for a share of common

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stock. The RSUs vest starting one year from the date of grant, on a cumulative basis at the annual rate of 20% of the total number of RSUs covered by the award. The dividend equivalents represent the value of the dividends paid per common share multiplied by the number of RSUs covered by the award. For the years ended December 31, 2016, 2015 and 2014, dividend equivalents aggregating approximately $445,000, $464,000 and $333,000 respectively, were charged against retained earnings when common stock dividends were declared.

The following is a schedule of the activity relating to RSUs outstanding:

	NUMBER OF RSUs OUTSTANDING			FAIR VALUE
				AMOUNT		AVERAGE PER RSU
RSUs OUTSTANDING AT DECEMBER 31, 2013		295,850
Granted		72,125		$	1,386,000	$	19.21
Settled		(19,550	)	$	360,000	$	18.43
Cancelled		(15,900	)	$	293,000	$	18.44
RSUs OUTSTANDING AT DECEMBER 31, 2014		332,525
Granted		79,250		$	1,429,700	$	18.04
Settled		(8,160	)	$	144,300	$	17.68
Cancelled		(3,240	)	$	55,600	$	17.16
RSUs OUTSTANDING AT DECEMBER 31, 2015		400,375
Granted		86,600		$	1,593,400	$	18.40
Settled		(34,650	)	$	635,800	$	18.35
Cancelled		(22,550	)	$	415,400	$	18.42
RSUs OUTSTANDING AT DECEMBER 31, 2016		429,775

The fair values of the RSUs were determined based on the closing market price of our stock on the date of grant. The fair value of the grants is recognized as compensation expense ratably over the five-year vesting period of the RSUs. Compensation expense related to RSUs for the years ended December 31, 2016, 2015 and 2014, was $1,418,000, $1,083,000 and $910,000, respectively, and is included in general and administrative expenses in our consolidated statements of operations. As of December 31, 2016, there was $2,660,000 of unrecognized compensation cost related to RSUs granted under the 2004 Plan and the 2012 performance-based incentive compensation program, which cost is expected to be recognized over a weighted average period of approximately three years. The aggregate intrinsic value of the 429,775 outstanding RSUs and the 221,819 vested RSUs as of December 31, 2016, was $10,955,000 and $5,654,000, respectively.

The following is a schedule of the vesting activity relating to RSUs outstanding:

	NUMBER OF RSUs VESTED			FAIR VALUE
RSUs VESTED AT DECEMBER 31, 2013		136,135
Vested		38,270		$	697,000
Settled		(19,550	)	$	360,000
RSUs VESTED AT DECEMBER 31, 2014		154,855
Vested		55,649		$	954,400
Settled		(8,160	)	$	144,300
RSUs VESTED AT DECEMBER 31, 2015		202,344
Vested		54,125		$	1,379,600
Settled		(34,650	)	$	635,800
RSUs VESTED AT DECEMBER 31, 2016		221,819

We have a retirement and profit sharing plan with deferred 401(k) savings plan provisions (the “Retirement Plan”) for employees meeting certain service requirements and a supplemental plan for executives (the “Supplemental Plan”). Under the terms of these plans, the annual discretionary contributions to the plans are determined by the Compensation Committee of the Board of Directors.

Also, under the Retirement Plan, employees may make voluntary contributions and we have elected to match an amount equal to fifty percent of such contributions but in no event more than three percent of the employee’s eligible compensation. Under the Supplemental Plan, a participating executive may receive an amount equal to ten percent of eligible compensation, reduced by the amount of any contributions allocated to such executive under the Retirement Plan. Contributions, net of forfeitures, under the

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retirement plans approximated $268,000, $284,000 and $261,000 for the years ended December 31, 2016, 2015 and 2014, respectively. These amounts are included in general and administrative expenses in our consolidated statements of operations. During the year ended December 31, 2016, we distributed $469,000 from the Supplemental Plan to one former officer of the Company. During the year ended December 31, 2014, we distributed $2,690,000 from the Supplemental Plan to two former officers of the Company. There were no distributions from the Supplemental Plan for the year ended December 31, 2015.

We have a stock option plan (the “Stock Option Plan”). Our authorization to grant options to purchase shares of our common stock under the Stock Option Plan has expired. As of December 31, 2016 and 2015, there were 5,000 options outstanding which were exercisable at $27.68 with an expiration date of May 15, 2017. As of December 31, 2016 and 2015, the 5,000 options outstanding had no intrinsic value.

NOTE 9. — EARNINGS PER COMMON SHARE

Basic and diluted earnings per common share gives effect, utilizing the two-class method, to the potential dilution from the issuance of common shares in settlement of restricted stock units (“RSU” or “RSUs”) which provide for non-forfeitable dividend equivalents equal to the dividends declared per common share. Basic and diluted earnings per common share is computed by dividing net earnings less dividend equivalents attributable to RSUs by the weighted-average number of common shares outstanding during the year. Diluted earnings per common share, also gives effect to the potential dilution from the exercise of stock options utilizing the treasury stock method. There were 5,000 stock options excluded from the earnings per share calculations below as they were anti-dilutive as of December 31, 2016, 2015 and 2014, respectively.

	Year ended December 31,
(in thousands):	2016			2015			2014
Earnings from continuing operations	$	42,081		$	40,370		$	20,405
Less dividend equivalents attributable to RSUs outstanding		(482	)		(460	)		(341	)
Earnings from continuing operations attributable to common shareholders		41,599			39,910			20,064
(Loss) earnings from discontinued operations		(3,670	)		(2,960	)		3,013
Less dividend equivalents attributable to RSUs outstanding		—			—			(50	)
(Loss) earnings from discontinued operations attributable to common shareholders		(3,670	)		(2,960	)		2,963
Net earnings attributable to common shareholders used for basic and diluted earnings per share calculation	$	37,929		$	36,950		$	23,027
Weighted average common shares outstanding:
Basic and diluted		33,806			33,420			33,409
RSUs outstanding at the end of the period		430			400			333
Basic and diluted earnings per common share	$	1.12		$	1.11		$	0.69

NOTE 10. — DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE

We report as discontinued operations two properties which met the criteria to be accounted for as held for sale in accordance with GAAP as of June 30, 2014, and certain properties disposed of during the periods presented that were previously classified as held for sale as of June 30, 2014. All results of these discontinued operations are included in a separate component of income on the consolidated statements of operations under the caption discontinued operations. We elected to early adopt ASU 2014-08, Presentation of Financial Statements (Topic 205), effective July 1, 2014 and, as a result, the results of operations for all qualifying disposals and properties classified as held for sale that were not previously reported in discontinued operations as of June 30, 2014, are presented within income from continuing operations in our consolidated statements of income.

During the year ended December 31, 2016, we sold two properties resulting in a loss of $205,000 that were previously classified as held for sale as of June 30, 2014. In addition, during the year ended December 31, 2016, we sold 12 properties resulting in a recognized gain of $2,373,000 that did not meet the criteria to be classified as discontinued operations. We determined that the 12 properties sold did not represent a strategic shift in our operations as defined in ASU 2014-08 and, as a result, the gains on dispositions of real estate for the 12 properties were reflected in our earnings from continuing operations. We also received funds from property condemnations resulting in a gain of $177,000 and recognized the remaining deferred gain of $3,868,000 related to the Ramoco sale.

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Real estate held for sale consisted of the following at December 31, 2016 and 2015:

(in thousands)	Year ended December 31,
	2016		2015
Land	$	117	$	603
Buildings and improvements		528		997
		645		1,600
Accumulated depreciation and amortization		—		(261	)
Real estate held for sale, net	$	645	$	1,339

The revenue from rental properties, impairment charges, other operating expenses and gains/losses from dispositions of real estate related to these properties are as follows:

	Year ended December 31,
(in thousands)	2016			2015			2014
Revenues from rental properties	$	5		$	164		$	2,372
Impairments		(5,926	)		(5,746	)		(8,596	)
Other operating income		2,456			2,283			242
(Loss) from operating activities		(3,465	)		(3,299	)		(5,982	)
(Loss) gains from dispositions of real estate		(205	)		339			8,995
(Loss) earnings from discontinued operations	$	(3,670	)	$	(2,960	)	$	3,013

NOTE 11. — QUARTERLY FINANCIAL DATA

The following is a summary of the quarterly results of operations for the years ended December 31, 2016 and 2015 (unaudited as to quarterly information) (in thousands, except per share amounts):

	THREE MONTHS ENDED
YEAR ENDED DECEMBER 31, 2016	MARCH 31,			JUNE 30,		SEPTEMBER 30,		DECEMBER 31,
Revenues from rental properties	$	24,388		$	24,140	$	24,328	$	25,083
Earnings from continuing operations		7,842			13,583		9,236		11,420
Net earnings	$	7,703		$	13,576	$	8,804	$	8,328
Diluted earnings per common share:
Earnings from continuing operations	$	0.23		$	0.40	$	0.27	$	0.33
Net earnings	$	0.23		$	0.40	$	0.26	$	0.24
YEAR ENDED DECEMBER 31, 2015	MARCH 31,			JUNE 30,		SEPTEMBER 30,		DECEMBER 31,
Revenues from rental properties	$	20,413		$	22,122	$	24,840	$	25,514
(Loss) earnings from continuing operations		(81	)		11,503		8,564		20,384
Net (loss) earnings	$	(1,137	)	$	11,619	$	7,035	$	19,893
Diluted (loss) earnings per common share:
(Loss) earnings from continuing operations	$	(0.01	)	$	0.34	$	0.25	$	0.60
Net (loss) earnings	$	(0.04	)	$	0.34	$	0.21	$	0.59

NOTE 12. — PROPERTY ACQUISITIONS

During the year ended December 31, 2016, we acquired fee simple or leasehold interests in three convenience store and gasoline station properties and an adjacent parcel of land to an existing property for a redevelopment project, in separate transactions, for an aggregate purchase price of $7,688,000. We accounted for the acquisitions of fee simple interests and leasehold title as business combinations. We estimated the fair value of acquired tangible assets (consisting of land, buildings and improvements) “as if vacant.” Based on these estimates, we allocated $1,041,000 of the purchase price to land, $6,111,000 to buildings and improvements and $374,000 to in-place leases. In addition, we purchased an adjacent parcel of land to an existing property for a redevelopment project for $162,000. We incurred transaction costs of $86,000 directly related to these acquisitions which are included in general and administrative expenses in our consolidated statements of operations.

During the year ended December 31, 2015, we acquired fee simple interests in 80 convenience store and gasoline station properties for an aggregate purchase price of $219,200,000.

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On June 3, 2015, we acquired fee simple interests in 77 convenience store and gasoline station properties from affiliates of Pacific Convenience and Fuels LLC which we simultaneously leased to Apro, LLC (d/b/a “United Oil”), a leading regional convenience store and gasoline station operator, under three separate cross-defaulted long-term triple-net unitary leases (the “United Oil Transaction”). The United Oil properties are located across California, Colorado, Nevada, Oregon and Washington State and operate under several well recognized brands including 7-Eleven, 76, Circle K, Conoco and My Goods Market. The total purchase price for the United Oil Transaction was $214,500,000, which was funded with proceeds from our Credit Agreement and Restated Prudential Note Purchase Agreement.

The leases governing the properties are unitary triple-net lease agreements with initial terms of 20 years and options for up to three successive five-year renewal options. The unitary leases require United Oil to pay a fixed annual rent plus all amounts pertaining to the properties including environmental expenses, real estate taxes, assessments, license and permit fees, charges for public utilities and all other governmental charges. Rent is contractually scheduled to increase at various intervals over the course of the initial and renewal terms of the leases.

We accounted for the United Oil Transaction as a business combination. We estimated the fair value of acquired tangible assets (consisting of land, buildings and improvements) “as if vacant.” Based on these estimates, we allocated $140,966,000 of the purchase price to land, $75,119,000 to buildings and improvements, $216,000 to above-market leases, $19,210,000 to below-market leases, which is accounted for as a deferred liability and $17,402,000 to in-place leases and other intangible assets. We incurred transaction costs of $413,000 directly related to the acquisition which are included in general and administrative expenses in our consolidated statements of operations.

In addition, in 2015, we acquired fee simple interests in three convenience store and gasoline station properties in separate transactions for an aggregate purchase price of $4,700,000.

Unaudited Pro Forma Condensed Consolidated Financial Information

The following unaudited pro forma condensed consolidated financial information has been prepared utilizing our historical financial statements and the combined effect of additional revenue and expenses from the properties acquired assuming that the acquisitions had occurred on January 1, 2014, after giving effect to certain adjustments resulting from the straight-lining of scheduled rent increases. The following information also gives effect to the additional interest expense resulting from the assumed increase in borrowings outstanding under the Credit Agreement and the Restated Prudential Note Purchase Agreement to fund the acquisition. The unaudited pro forma condensed financial information is not indicative of the results of operations that would have been achieved had the acquisition reflected herein been consummated on the dates indicated or that will be achieved in the future.

(in thousands, except per share data)	Year ended December 31,
	2015		2014
Revenues from continuing operations	$	118,003	$	117,340
Earnings from continuing operations	$	41,763	$	22,399
Basic and diluted earnings from continuing operations per common share	$	1.24	$	0.66

Total revenues for the United Oil Transaction included in continuing operations were $17,631,000 and $10,177,000 for the years ended December 31, 2016 and 2015, respectively. Net earnings for the United Oil Transaction were $11,762,000 and $6,952,000 for the years ended December 31, 2016 and 2015, respectively.

NOTE 13. — ACQUIRED INTANGIBLE ASSETS

Acquired above-market (when we are a lessor) and below-market leases (when we are a lessee) are included in prepaid expenses and other assets and had a balance of $2,527,000 and $3,021,000 (net of accumulated amortization of $4,210,000 and $3,715,000, respectively) at December 31, 2016 and 2015, respectively. Acquired above-market (when we are lessee) and below-market (when we are lessor) leases are included in accounts payable and accrued liabilities and had a balance of $22,539,000 and $24,534,000 (net of accumulated amortization of $13,619,000 and $11,624,000, respectively) at December 31, 2016 and 2015, respectively. When we are a lessor, above-market and below-market leases are amortized and recorded as either an increase (in the case of below-market leases) or a decrease (in the case of above-market leases) to rental revenue over the remaining term of the associated lease in place at the time of purchase. In-place leases are included in prepaid expenses and other assets and had a balance of $20,984,000 and $22,004,000 (net of accumulated amortization of $5,187,000 and $3,793,000, respectively) at December 31, 2016 and 2015,

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respectively. When we are a lessee, above-market and below-market leases are amortized and recorded as either an increase (in the case of below-market leases) or a decrease (in the case of above-market leases) to rental expense over the remaining term of the associated lease in place at the time of purchase. Rental income included amortization from acquired leases of $1,833,000, $1,426,000 and $1,239,000 for the years ended December 31, 2016, 2015 and 2014, respectively. Rent expense included amortization from acquired leases of $333,000 for the years ended December 31, 2016, 2015 and 2014. The value associated with in-place leases and lease origination costs are amortized into depreciation and amortization expense over the remaining life of the lease. Depreciation and amortization expense included amortization from in-place leases of $1,395,000, $1,019,000 and $518,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

The amortization for acquired intangible assets during the next five years and thereafter, assuming no early lease terminations, is as follows:

	Above-Market Leases		Below-Market Leases		In-Place Leases
As Lessor:
Year ending December 31,
2017	$	148,000	$	1,833,000	$	1,389,000
2018		47,000		1,781,000		1,363,000
2019		30,000		1,701,000		1,342,000
2020		24,000		1,463,000		1,322,000
2021		16,000		1,322,000		1,301,000
Thereafter		179,000		14,439,000		14,267,000
	$	444,000	$	22,539,000	$	20,984,000

	Below-Market Leases
As Lessee:
Year ending December 31,
2017	$	320,000
2018		317,000
2019		312,000
2020		222,000
2021		157,000
Thereafter		755,000
	$	2,083,000

NOTE 14. — SUBSEQUENT EVENTS

We have evaluated events and transactions occurring after December 31, 2016, for recognition or disclosure purposes. On February 21, 2017, we entered into an amended and restated note purchase agreement with Prudential and an affiliate of Prudential. Pursuant to this agreement, Prudential and its affiliate issued $50,000,000 of senior unsecured Series C Notes bearing interest at 4.75% and maturing in February 2025. The proceeds were used to repay borrowings outstanding under our Revolving Facility. There were no other reportable subsequent events or transactions.

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Report of Independent Registered Public Accounting Firm

To the Board of Directors and Shareholders of Getty Realty Corp.

In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of operations and of cash flows present fairly, in all material respects, the financial position of Getty Realty Corp. and its subsidiaries at December 31, 2016 and 2015, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2016, in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2016, based on criteria established in Internal Control—Integrated Framework 2013 issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Company’s management is responsible for these financial statements, for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in Management’s Report on Internal Control over Financial Reporting appearing under Item 9A. Our responsibility is to express opinions on these financial statements and on the Company’s internal control over financial reporting based on our integrated audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ PricewaterhouseCoopers LLP

New York, New York

March 2, 2017

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Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed or furnished pursuant to the Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

As required by the Exchange Act Rule 13a-15(b), we have carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this Annual Report on Form 10-K. Based on the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of December 31, 2016.

Management’s Report on Internal Control Over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f). Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we have conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our assessment under the framework in Internal Control — Integrated Framework, our management concluded that our internal control over financial reporting was effective as of December 31, 2016.

The effectiveness of our internal control over financial reporting as of December 31, 2016, has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which appears in “Item 8. Financial Statements and Supplementary Data”.

Item 9B. Other Information

As of December 31, 2016, we leased 77 convenience store and gasoline station properties pursuant to three separate, cross-defaulted, unitary leases to Apro, LLC (d/b/a “United Oil”). In the aggregate, these leases with United Oil accounted for 15% of our rental revenues for the year ended December 31, 2016. United Oil is wholly owned subsidiary of CF United LLC.

The selected combined audited financial data of CF United LLC, which has been prepared by CF United LLC’s management and audited by a third-party accounting firm, is provided below:

(in thousands)

Operating Data:

	Year ended December 31,
	2016		2015
Total income	$	1,161,150	$	1,160,652
Total costs of operations and operating expenses		1,134,585		1,133,510
Net income	$	24,338	$	23,545

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Balance Sheet Data:

	December 31, 2016		December 31, 2015
Current assets	$	71,836	$	87,195
Noncurrent assets		262,228		265,315
Current liabilities		63,848		63,892
Noncurrent liabilities	$	140,794	$	151,088

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PART III

Item 10. Directors, Executive Officers and Corporate Governance

Information with respect to compliance with Section 16(a) of the Exchange Act is incorporated herein by reference to information under the heading “Section 16(a) Beneficial Ownership Reporting Compliance” in the Proxy Statement. Information with respect to directors, the audit committee and the audit committee financial expert, and procedures by which shareholders may recommend nominees to the board of directors in response to this item is incorporated herein by reference to information under the headings “Election of Directors” and “Directors’ Meetings, Committees and Executive Officers” in the Proxy Statement. The following table lists our executive officers, their respective ages and the offices and positions held.

NAME	AGE	POSITION	OFFICER SINCE
Christopher J. Constant	38	President, Chief Executive Officer and Director	2012
Mark J. Olear	52	Executive Vice President and Chief Operating Officer	2014
Joshua Dicker	56	Senior Vice President, General Counsel and Secretary	2008
Danion Fielding	45	Vice President, Chief Financial Officer and Treasurer	2016

Mr. Constant has served as President, Chief Executive Officer and Director since January 2016. Mr. Constant joined the Company in November 2010 as Director of Planning and Corporate Development and was later promoted to Treasurer in May 2012, Vice President in May 2013 and Chief Financial Officer in December 2013. Prior to joining the Company, Mr. Constant was a Vice President in the corporate finance department at Morgan Joseph & Co. Inc. and began his career in the corporate finance department at ING Barings.

Mr. Olear has served as Executive Vice President since May 2014 and Chief Operating Officer since May 2015 (Chief Investment Officer since May 2014). Prior to joining the Company, Mr. Olear held various positions in real estate with TD Bank, Home Depot, Toys “R” Us and A&P.

Mr. Dicker has served as Senior Vice President, General Counsel and Secretary since 2012. He was Vice President, General Counsel and Secretary since February 2009. Prior to joining the Company in 2008, he was a partner at the law firm Arent Fox, LLP, resident in its New York City office, specializing in corporate and transactional matters.

Mr. Fielding joined the Company in February 2016 as Vice President, Chief Financial Officer and Treasurer. Prior to joining the Company, Mr. Fielding held various positions in real estate and investment banking with Wilbraham Capital, Moinian Group, Nationwide Health Properties, J.P. Morgan, PricewaterhouseCoopers and Daiwa Securities.

There are no family relationships between any of the Company’s directors or executive officers.

The Getty Realty Corp. Business Conduct Guidelines (“Code of Ethics”), which applies to all employees, including our Chief Executive Officer and Chief Financial Officer, is available on our website at www.gettyrealty.com.

Item 11. Executive Compensation

Information in response to this item is incorporated herein by reference to information under the heading “Executive Compensation” in the Proxy Statement.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Information in response to this item is incorporated herein by reference to information under the heading “Beneficial Ownership of Capital Stock” and “Executive Compensation — Compensation Discussion and Analysis — Equity Compensation — Equity Compensation Plan Information” in the Proxy Statement.

Item 13. Certain Relationships and Related Transactions, and Director Independence

There were no such relationships or transactions to report for the year ended December 31, 2016.

Information with respect to director independence is incorporated herein by reference to information under the heading “Directors’ Meetings, Committees and Executive Officers — Independence of Directors” in the Proxy Statement.

Item 14. Principal Accountant Fees and Services

Information in response to this item is incorporated herein by reference to information under the heading “Ratification of Appointment of Independent Registered Public Accounting Firm” in the Proxy Statement.

70

PART IV

Item 15. Exhibits and Financial Statement Schedules

(a) (1) Financial Statements

Information in response to this Item is included in “Item 8. Financial Statements and Supplementary Data”.

(a) (2) Financial Statement Schedules

71

GETTY REALTY CORP.

INDEX TO FINANCIAL STATEMENT SCHEDULES

Item 15(a)(2)

	PAGES
Report of Independent Registered Public Accounting Firm on Financial Statement Schedules		73
Schedule II — Valuation and Qualifying Accounts  and Reserves for the years ended December 31, 2016, 2015 and 2014		73
Schedule III — Real Estate and Accumulated Depreciation and Amortization as of December 31, 2016		74
Schedule IV — Mortgage Loans on Real Estate as of December  31, 2016		88

(a) (3) Exhibits

Information in response to this Item is incorporated herein by reference to the Exhibit Index on page 94 of this Annual Report on Form 10-K.

72

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

ON FINANCIAL STATEMENT SCHEDULES

To the Board of Directors of Getty Realty Corp.:

Our audits of the consolidated financial statements and of the effectiveness of internal control over financial reporting referred to in our report dated March 2, 2017 appearing in the 2016 Annual Report to Shareholders of Getty Realty Corp. (which report and consolidated financial statements are incorporated by reference in this Annual Report on Form 10-K) also included an audit of the financial statement schedules listed in Item 15(a)(2) of this Form 10-K. In our opinion, these financial statement schedules present fairly, in all material respects, the information set forth therein when read in conjunction with the related consolidated financial statements.

/s/ PricewaterhouseCoopers LLP

New York, New York

March 2, 2017

GETTY REALTY CORP. and SUBSIDIARIES

SCHEDULE II — VALUATION and QUALIFYING ACCOUNTS and RESERVES

for the years ended December 31, 2016, 2015 and 2014

(in thousands)

	BALANCE AT BEGINNING OF YEAR		ADDITIONS		DEDUCTIONS		BALANCE AT END OF YEAR
December 31, 2016:
Allowance for deferred rent receivable	$	—	$	—	$	—	$	—
Allowance for accounts receivable	$	2,634	$	855	$	1,483	$	2,006
December 31, 2015:
Allowance for deferred rent receivable	$	7,009	$	—	$	7,009	$	—
Allowance for accounts receivable	$	4,160	$	1,778	$	3,304	$	2,634
December 31, 2014:
Allowance for deferred rent receivable	$	4,775	$	2,234	$	—	$	7,009
Allowance for accounts receivable	$	3,248	$	1,182	$	270	$	4,160

73

GETTY REALTY CORP. and SUBSIDIARIES

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION AND AMORTIZATION

As of December 31, 2016

(in thousands)

The summarized changes in real estate assets and accumulated depreciation are as follows:

	2016			2015			2014
Investment in real estate:
Balance at beginning of year	$	783,233		$	595,959		$	570,275
Acquisitions and capital expenditures		19,097			233,785			79,259
Impairments		(13,590	)		(20,606	)		(24,620	)
Sales and condemnations		(6,379	)		(25,019	)		(25,786	)
Lease expirations/settlements		(195	)		(886	)		(3,169	)
Balance at end of year	$	782,166		$	783,233		$	595,959
Accumulated depreciation and amortization:
Balance at beginning of year	$	107,370		$	100,690		$	103,452
Depreciation and amortization		16,629			15,663			9,777
Impairments		(776	)		(3,246	)		(3,086	)
Sales and condemnations		(2,559	)		(5,313	)		(6,544	)
Lease expirations/settlements		(88	)		(424	)		(2,909	)
Balance at end of year	$	120,576		$	107,370		$	100,690

74

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment		Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
					Land		Building and Improvements		Total Cost		Accumulated Depreciation
Brookland, AR	$	1,468	$	—	$	149	$	1,319	$	1,468	$	508		2007
Jonesboro, AR		868		—		173		695		868		282		2007
Jonesboro, AR		2,985		—		330		2,655		2,985		1,076		2007
Bellflower, CA		1,369		—		910		459		1,369		241		2007
Benicia, CA		2,224		—		1,058		1,166		2,224		639		2007
Chula Vista, CA		2,385		—		889		1,496		2,385		152		2014
Coachella, CA		2,235		—		1,217		1,018		2,235		521		2007
Cotati, CA		6,072		—		4,008		2,064		6,072		180		2015
Fillmore, CA		1,354		—		950		404		1,354		211		2007
Grass Valley, CA		1,485		—		853		632		1,485		57		2015
Hesperia, CA		1,643		—		849		794		1,643		384		2007
Hesperia, CA		2,055		—		492		1,563		2,055		166		2015
Indio, CA		1,250		—		302		948		1,250		89		2015
Indio, CA		2,727		—		1,486		1,241		2,727		122		2015
La Palma, CA		1,971		—		1,389		582		1,971		300		2007
La Puente, CA		7,615		—		6,405		1,210		7,615		125		2015
Lakeside, CA		3,715		—		2,695		1,020		3,715		100		2015
Los Angeles, CA		6,612		—		5,006		1,606		6,612		164		2015
Oakland, CA		5,434		—		4,123		1,311		5,434		132		2015
Ontario, CA		6,613		—		4,523		2,090		6,613		213		2015
Phelan, CA		4,611		—		3,276		1,335		4,611		139		2015
Riverside, CA		2,130		—		1,619		511		2,130		67		2015
Riverside, CA		2,737		—		1,216		1,521		2,737		179		2014
Sacramento, CA		3,193		—		2,207		986		3,193		103		2015
Sacramento, CA		4,247		—		2,604		1,643		4,247		151		2015
Sacramento, CA		5,942		—		4,233		1,709		5,942		168		2015
San Dimas, CA		1,941		—		749		1,192		1,941		528		2007
San Jose, CA		5,412		—		4,219		1,193		5,412		131		2015
San Leandro, CA		5,978		—		5,078		900		5,978		97		2015
Shingle Springs, CA		4,751		—		3,489		1,262		4,751		128		2015
Stockton, CA		1,187		—		627		560		1,187		58		2015
Stockton, CA		3,001		—		1,460		1,541		3,001		145		2015
Boulder, CO		3,900		—		2,875		1,025		3,900		95		2015
Castle Rock, CO		5,269		—		3,269		2,000		5,269		197		2015
Golden, CO		4,641		—		3,247		1,394		4,641		134		2015
Greenwood Village, CO		4,077		—		2,889		1,188		4,077		109		2015
Highlands Ranch, CO		4,356		—		2,921		1,435		4,356		140		2015
Lakewood, CO		2,349		—		1,541		808		2,349		75		2015
Littleton, CO		4,233		—		2,366		1,867		4,233		182		2015
Lone Tree, CO		6,612		—		5,125		1,487		6,612		152		2015
Longmont, CO		3,619		—		2,315		1,304		3,619		133		2015
Louisville, CO		6,605		—		5,228		1,377		6,605		138		2015
Morrison, CO		5,081		—		3,018		2,063		5,081		209		2015
Superior, CO		3,748		—		2,477		1,271		3,748		124		2015
Thornton, CO		5,003		—		2,722		2,281		5,003		223		2015
Westminster, CO		1,457		—		752		705		1,457		67		2015
Wheat Ridge, CO		6,151		—		4,201		1,950		6,151		197		2015
Avon, CT		731		333		403		661		1,064		309		2002

75

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment			Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
						Land		Building and Improvements		Total Cost		Accumulated Depreciation
Bridgeport, CT		346		12			230		128		358		128		1985
Bridgeport, CT		339		22			220		141		361		112		1985
Bridgeport, CT		59		380			24		415		439		196		1982
Bridgeport, CT		313		298			204		407		611		162		1985
Bridgeport, CT		350		330			228		452		680		203		1985
Bridgeport, CT		377		394			246		525		771		254		1985
Bristol, CT		360		—			—		360		360		360		2004
Bristol, CT		365		—			237		128		365		62		2004
Bristol, CT		1,594		—			1,036		558		1,594		272		2004
Brookfield, CT		57		733			20		770		790		288		1985
Cheshire, CT		491		(113	)		267		111		378		46		1985
Cobalt, CT		396		—			—		396		396		396		2004
Darien, CT		667		323			434		556		990		352		1985
Durham, CT		994		—			—		994		994		994		2004
East Hartford, CT		208		224			54		378		432		223		1982
Ellington, CT		1,295		—			842		453		1,295		221		2004
Fairfield, CT		430		51			280		201		481		125		1985
Farmington, CT		466		—			303		163		466		79		2004
Franklin, CT		51		447			20		478		498		257		1982
Hartford, CT		571		—			371		200		571		97		2004
Hartford, CT		665		—			432		233		665		113		2004
Manchester, CT		110		323			50		383		433		147		1987
Meriden, CT		208		339			84		463		547		229		1982
Meriden, CT		1,532		—			989		543		1,532		269		2004
Middletown, CT		132		564			131		565		696		242		1987
Middletown, CT		1,039		—			675		364		1,039		177		2004
Milford, CT		293		45			191		147		338		120		1985
Milford, CT		57		295			30		322		352		103		1985
Montville, CT		57		332			24		365		389		146		1982
New Britain, CT		391		—			254		137		391		67		2004
New Haven, CT		217		297			141		373		514		135		1985
New Haven, CT		539		454			351		642		993		373		1985
New Haven, CT		1,414		(275	)		569		570		1,139		99		1985
Newington, CT		954		—			620		334		954		162		2004
North Haven, CT		405		—			252		153		405		84		2004
Norwalk, CT		511		45			332		224		556		181		1985
Norwalk, CT		—		942			402		540		942		188		1988
Norwich, CT		107		323			44		386		430		172		1982
Old Greenwich, CT		—		1,223			620		603		1,223		194		1969
Plainville, CT		545		—			354		191		545		93		2004
Plymouth, CT		931		—			605		326		931		159		2004
Ridgefield, CT		402		304			167		539		706		324		1985
Ridgefield, CT		536		466			348		654		1,002		318		1985
South Windham, CT		644		1,398			598		1,444		2,042		548		2004
South Windsor, CT		545		—			337		208		545		115		2004
Stamford, CT		507		16			330		193		523		150		1985
Stamford, CT		603		343			393		553		946		265		1985
Stamford, CT		508		476			330		654		984		260		1985
Suffield, CT		237		603			201		639		840		481		2004

76

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment		Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
					Land		Building and Improvements		Total Cost		Accumulated Depreciation
Tolland, CT		108		379		44		443		487		220		1982
Vernon, CT		1,434		—		—		1,434		1,434		1,434		2004
Wallingford, CT		551		—		335		216		551		123		2004
Waterbury, CT		469		—		305		164		469		80		2004
Waterbury, CT		515		—		335		180		515		88		2004
Waterbury, CT		804		—		516		288		804		145		2004
Watertown, CT		352		343		204		491		695		215		1992
Watertown, CT		925		—		567		358		925		201		2004
West Haven, CT		185		322		74		433		507		214		1982
West Haven, CT		1,215		—		790		425		1,215		207		2004
Westbrook, CT		345		—		—		345		345		345		2004
Westport, CT		604		12		393		223		616		172		1985
Wethersfield, CT		447		—		—		447		447		447		2004
Willimantic, CT		717		—		466		251		717		122		2004
Wilton, CT		519		364		338		545		883		242		1985
Windsor Locks, CT		1,031		—		670		361		1,031		176		2004
Windsor Locks, CT		1,434		1,400		1,055		1,779		2,834		1,453		2004
Washington, DC		848		—		418		430		848		79		2013
Washington, DC		941		—		664		277		941		58		2013
Orlando, FL		868		33		401		500		901		333		2000
Haleiwa, HI		1,522		—		1,058		464		1,522		300		2007
Honolulu, HI		1,069		16		981		104		1,085		75		2007
Honolulu, HI		1,539		—		1,219		320		1,539		162		2007
Honolulu, HI		1,769		—		1,192		577		1,769		269		2007
Honolulu, HI		9,211		—		8,194		1,017		9,211		490		2007
Kaneohe, HI		1,364		—		822		542		1,364		295		2007
Kaneohe, HI		1,978		182		1,473		687		2,160		297		2007
Waianae, HI		1,520		—		648		872		1,520		406		2007
Waianae, HI		1,997		—		871		1,126		1,997		527		2007
Waipahu, HI		2,458		—		945		1,513		2,458		676		2007
Arlington, MA		518		28		338		208		546		164		1985
Auburn, MA		174		213		125		262		387		122		1986
Auburn, MA		—		535		388		147		535		29		1996
Auburn, MA		600		—		600		—		600		—		2011
Auburn, MA		625		—		625		—		625		—		2011
Auburn, MA		369		264		240		393		633		182		1991
Auburn, MA		725		—		725		—		725		—		2011
Auburn, MA		800		—		—		800		800		442		2011
Barre, MA		536		12		348		200		548		111		1991
Bedford, MA		1,350		—		1,350		—		1,350		—		2011
Bellingham, MA		734		73		476		331		807		269		1985
Belmont, MA		390		29		254		165		419		132		1985
Bradford, MA		650		—		650		—		650		—		2011
Burlington, MA		600		—		600		—		600		—		2011
Burlington, MA		1,250		—		1,250		—		1,250		—		2011

77

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment			Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
						Land		Building and Improvements		Total Cost		Accumulated Depreciation
Chelmsford, MA		715		—			—		715		715		231		2012
Danvers, MA		400		—			400		—		400		—		2011
Dracut, MA		450		—			450		—		450		—		2011
Falmouth, MA		519		127			458		188		646		121		1988
Fitchburg, MA		390		33			254		169		423		107		1992
Foxborough, MA		427		98			325		200		525		135		1990
Framingham, MA		400		23			260		163		423		100		1991
Gardner, MA		550		—			550		—		550		—		2011
Gardner, MA		1,008		282			657		633		1,290		416		1985
Gardners, MA		787		—			638		149		787		23		2014
Hingham, MA		353		111			243		221		464		152		1989
Hyde Park, MA		499		157			322		334		656		194		1985
Leominster, MA		571		—			199		372		571		89		2012
Lowell, MA		375		9			250		134		384		134		1986
Lowell, MA		361		90			201		250		451		246		1985
Lowell, MA		—		619			429		190		619		37		1996
Lynn, MA		400		—			400		—		400		—		2011
Lynn, MA		850		—			850		—		850		—		2011
Marlborough, MA		550		—			550		—		550		—		2011
Maynard, MA		736		98			479		355		834		219		1985
Melrose, MA		600		—			600		—		600		—		2011
Methuen, MA		300		134			150		284		434		217		1986
Methuen, MA		380		64			246		198		444		166		1985
Methuen, MA		491		97			319		269		588		162		1985
Methuen, MA		650		—			650		—		650		—		2011
Newton, MA		691		124			450		365		815		268		1985
North Andover, MA		394		32			256		170		426		137		1985
Peabody, MA		400		18			252		166		418		166		1986
Peabody, MA		550		—			550		—		550		—		2011
Peabody, MA		650		—			650		—		650		—		2011
Randolph, MA		573		238			430		381		811		228		1985
Revere, MA		1,300		—			1,300		—		1,300		—		2011
Rockland, MA		579		45			377		247		624		198		1985
Salem, MA		600		—			600		—		600		—		2011
Seekonk, MA		1,073		(261	)		576		236		812		88		1985
Shrewsbury, MA		400		—			400		—		400		—		2011
Shrewsbury, MA		450		—			450		—		450		—		2011
Sterling, MA		476		2			309		169		478		94		1991
Sutton, MA		714		62			464		312		776		199		1993
Tewksbury, MA		125		506			75		556		631		170		1986
Tewksbury, MA		1,200		—			1,200		—		1,200		—		2011
Upton, MA		428		115			279		264		543		125		1991
Wakefield, MA		900		—			900		—		900		—		2011
Walpole, MA		450		92			293		249		542		146		1985
Watertown, MA		358		211			321		248		569		142		1985
Webster, MA		1,012		618			659		971		1,630		474		1985
West Boylston, MA		312		29			203		138		341		89		1991

78

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment		Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
					Land		Building and Improvements		Total Cost		Accumulated Depreciation
West Roxbury, MA		491		86		319		258		577		181		1985
Westborough, MA		312		21		203		130		333		81		1991
Westborough, MA		450		—		450		—		450		—		2011
Westford, MA		275		81		175		181		356		142		1986
Wilmington, MA		600		—		600		—		600		—		2011
Wilmington, MA		1,300		—		1,300		—		1,300		—		2011
Woburn, MA		350		63		200		213		413		201		1986
Woburn, MA		508		394		508		394		902		250		1985
Worcester, MA		400		—		400		—		400		—		2011
Worcester, MA		500		—		500		—		500		—		2011
Worcester, MA		550		—		550		—		550		—		2011
Worcester, MA		547		11		356		202		558		115		1991
Worcester, MA		498		330		322		506		828		261		1985
Worcester, MA		979		7		636		350		986		195		1991
Accokeek, MD		692		—		692		—		692		—		2010
Baltimore, MD		802		—		—		802		802		392		2007
Baltimore, MD		2,259		—		722		1,537		2,259		701		2007
Beltsville, MD		525		—		525		—		525		—		2009
Beltsville, MD		731		—		731		—		731		—		2009
Beltsville, MD		1,050		—		1,050		—		1,050		—		2009
Beltsville, MD		1,130		—		1,130		—		1,130		—		2009
Bladensburg, MD		571		—		571		—		571		—		2009
Bowie, MD		1,084		—		1,084		—		1,084		—		2009
Capitol Heights, MD		628		—		628		—		628		—		2009
Clinton, MD		651		—		651		—		651		—		2009
College Park, MD		445		—		445		—		445		—		2009
College Park, MD		536		—		536		—		536		—		2009
District Heights, MD		388		—		388		—		388		—		2009
District Heights, MD		479		—		479		—		479		—		2009
Ellicott City, MD		895		—		—		895		895		460		2007
Emmitsburg, MD		147		191		102		236		338		154		1986
Forestville, MD		1,039		—		1,039		—		1,039		—		2009
Fort Washington, MD		422		—		422		—		422		—		2009
Greenbelt, MD		1,153		—		1,153		—		1,153		—		2009
Hyattsville, MD		491		—		491		—		491		—		2009
Hyattsville, MD		594		—		594		—		594		—		2009
Landover, MD		662		—		662		—		662		—		2009
Landover, MD		753		—		753		—		753		—		2009
Landover Hills, MD		457		—		457		—		457		—		2009
Landover Hills, MD		1,358		—		1,358		—		1,358		—		2009
Lanham, MD		822		—		822		—		822		—		2009
Laurel, MD		696		—		696		—		696		—		2009
Laurel, MD		1,210		—		1,210		—		1,210		—		2009
Laurel, MD		1,267		—		1,267		—		1,267		—		2009
Laurel, MD		1,415		—		1,415		—		1,415		—		2009
Laurel, MD		1,530		—		1,530		—		1,530		—		2009
Laurel, MD		2,523		—		2,523		—		2,523		—		2009
Oxon Hill, MD		1,256		—		1,256		—		1,256		—		2009

79

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment			Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
						Land		Building and Improvements		Total Cost		Accumulated Depreciation
Riverdale, MD		582		—			582		—		582		—		2009
Riverdale, MD		788		—			788		—		788		—		2009
Seat Pleasant, MD		468		—			468		—		468		—		2009
Suitland, MD		377		—			377		—		377		—		2009
Suitland, MD		673		—			673		—		673		—		2009
Temple Hills, MD		331		—			331		—		331		—		2009
Upper Marlboro, MD		845		—			845		—		845		—		2009
Biddeford, ME		618		8			235		391		626		391		1985
Lewiston, ME		342		188			222		308		530		200		1985
Kernersville, NC		449		—			338		111		449		102		2007
Madison, NC		396		—			46		350		396		185		2007
New Bern, NC		350		83			190		243		433		143		2007
Belfield, ND		1,232		—			382		850		1,232		727		2007
Allenstown, NH		1,787		—			467		1,320		1,787		670		2007
Concord, NH		675		—			675		—		675		—		2011
Concord, NH		900		—			900		—		900		—		2011
Derry, NH		418		17			158		277		435		275		1987
Derry, NH		950		—			950		—		950		—		2011
Dover, NH		650		—			650		—		650		—		2011
Dover, NH		1,200		—			1,200		—		1,200		—		2011
Goffstown, NH		1,737		—			697		1,040		1,737		327		2012
Hooksett, NH		1,562		—			824		738		1,562		651		2007
Kingston, NH		1,500		—			1,500		—		1,500		—		2011
Londonderry, NH		703		30			458		275		733		216		1985
Londonderry, NH		1,100		—			1,100		—		1,100		—		2011
Manchester, NH		550		—			550		—		550		—		2011
Milford, NH		190		147			115		222		337		138		1986
Nashua, NH		500		—			500		—		500		—		2011
Nashua, NH		550		—			550		—		550		—		2011
Nashua, NH		750		—			750		—		750		—		2011
Nashua, NH		825		—			825		—		825		—		2011
Nashua, NH		1,750		—			1,750		—		1,750		—		2011
Northwood, NH		500		—			500		—		500		—		2011
Pelham, NH		—		730			317		413		730		69		1996
Plaistow, NH		300		101			245		156		401		155		1987
Portsmouth, NH		525		—			525		—		525		—		2011
Raymond, NH		550		—			550		—		550		—		2011
Rochester, NH		700		—			700		—		700		—		2011
Rochester, NH		939		12			600		351		951		269		1985
Rochester, NH		1,400		—			1,400		—		1,400		—		2011
Rochester, NH		1,600		—			1,600		—		1,600		—		2011
Salem, NH		744		18			484		278		762		215		1985
Salem, NH		450		880			350		980		1,330		43		1986
Basking Ridge, NJ		362		287			200		449		649		221		1986
Bergenfield, NJ		382		331			300		413		713		166		1990
Brick, NJ		1,508		229			1,000		737		1,737		432		2000
Colonia, NJ		720		(297	)		72		351		423		264		1985
Elizabeth, NJ		406		62			227		241		468		149		1985

80

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment			Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
						Land		Building and Improvements		Total Cost		Accumulated Depreciation
Flemington, NJ		708		(251	)		168		289		457		62		1985
Flemington, NJ		547		17			346		218		564		169		1985
Fort Lee, NJ		1,246		362			811		797		1,608		439		1985
Franklin Twp., NJ		683		195			445		433		878		305		1985
Freehold, NJ		494		370			95		769		864		121		1978
Green Village, NJ		277		76			128		225		353		191		1985
Hasbrouck Heights, NJ		641		440			416		665		1,081		350		1985
Hillsborough, NJ		237		487			100		624		724		251		1985
Irvington, NJ		411		(34	)		98		279		377		31		1985
Lake Hopatcong, NJ		1,305		—			800		505		1,305		412		2000
Livingston, NJ		871		294			568		597		1,165		314		1985
Long Branch, NJ		514		437			335		616		951		228		1985
Mcafee, NJ		672		268			437		503		940		240		1985
Midland Park, NJ		200		333			150		383		533		181		1989
Mountainside, NJ		665		(172	)		134		359		493		84		1985
North Bergen, NJ		630		151			410		371		781		265		1985
North Plainfield, NJ		227		576			175		628		803		386		1978
Nutley, NJ		434		199			283		350		633		194		1985
Paramus, NJ		382		68			249		201		450		131		1985
Parlin, NJ		418		157			203		372		575		84		1985
Paterson, NJ		620		16			403		233		636		181		1985
Ridgefield, NJ		55		280			33		302		335		112		1980
Ridgewood, NJ		703		386			458		631		1,089		304		1985
Somerville, NJ		253		124			201		176		377		84		1987
Trenton, NJ		1,303		—			1,146		157		1,303		39		2012
Union, NJ		437		316			239		514		753		103		1985
Washington Township, NJ		912		287			594		605		1,199		318		1985
Watchung, NJ		449		130			226		353		579		71		1985
West Orange, NJ		800		412			521		691		1,212		380		1985
Fernley, NV		1,665		—			221		1,444		1,665		162		2015
Naples, NY		1,257		—			827		430		1,257		186		2006
Perry, NY		1,444		—			1,044		400		1,444		173		2006
Prattsburg, NY		553		—			303		250		553		108		2006
Rochester, NY		853		—			303		550		853		238		2006
Alfred Station, NY		714		—			414		300		714		130		2006
Amherst, NY		222		247			173		296		469		90		2000
Astoria, NY		1,684		—			1,105		579		1,684		122		2013
Avoca, NY		936		(1	)		635		300		935		130		2006
Batavia, NY		684		—			364		320		684		139		2006
Bay Shore, NY		156		356			86		426		512		240		1981
Bayside, NY		470		261			306		425		731		171		1985
Bellaire, NY		330		37			215		152		367		125		1985
Brewster, NY		789		—			789		—		789		—		2011
Briarcliff Manor, NY		652		606			502		756		1,258		418		1976
Bronx, NY		104		226			90		240		330		233		1985
Bronx, NY		423		—			423		—		423		—		2013
Bronx, NY		391		53			251		193		444		160		1985
Bronx, NY		877		—			877		—		877		—		2013

81

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment		Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
					Land		Building and Improvements		Total Cost		Accumulated Depreciation
Bronx, NY		884		—		884		—		884		—		2013
Bronx, NY		953		—		953		—		953		—		2013
Bronx, NY		1,049		—		485		564		1,049		119		2013
Bronx, NY		1,910		—		1,349		561		1,910		124		2013
Bronx, NY		2,408		—		1,712		696		2,408		138		2013
Bronxville, NY		1,232		—		1,232		—		1,232		—		2011
Brooklyn, NY		—		396		—		396		396		195		1970
Brooklyn, NY		100		345		67		378		445		177		1972
Brooklyn, NY		75		384		31		428		459		210		1967
Brooklyn, NY		148		394		104		438		542		238		1972
Brooklyn, NY		237		382		154		465		619		156		1985
Brooklyn, NY		282		457		176		563		739		362		1967
Brooklyn, NY		422		334		275		481		756		249		1985
Brooklyn, NY		478		318		306		490		796		254		1985
Brooklyn, NY		627		313		408		532		940		273		1985
Buffalo, NY		312		242		151		403		554		168		2000
Byron, NY		969		—		669		300		969		130		2006
Chester, NY		1,158		—		1,158		—		1,158		—		2011
Churchville, NY		1,011		—		601		410		1,011		178		2006
Commack, NY		321		26		209		138		347		110		1985
Corona, NY		114		301		113		302		415		302		1965
Corona, NY		2,543		—		1,903		640		2,543		129		2013
Cortland Manor, NY		1,872		—		1,872		—		1,872		—		2011
Dobbs Ferry, NY		670		34		434		270		704		213		1985
Dobbs Ferry, NY		1,345		—		1,345		—		1,345		—		2011
East Hampton, NY		660		39		428		271		699		214		1985
East Islip, NY		89		549		87		551		638		259		1972
East Pembroke, NY		787		—		537		250		787		108		2006
Eastchester, NY		1,724		—		1,724		—		1,724		—		2011
Elmont, NY		389		319		231		477		708		286		1978
Elmsford, NY		—		1,012		581		431		1,012		196		1971
Elmsford, NY		1,453		—		1,453		—		1,453		—		2011
Fishkill, NY		1,793		—		1,793		—		1,793		—		2011
Floral Park, NY		617		175		356		436		792		219		1998
Flushing, NY		516		241		320		437		757		193		1998
Flushing, NY		1,936		—		1,413		523		1,936		110		2013
Flushing, NY		1,947		—		1,405		542		1,947		105		2013
Flushing, NY		2,478		—		1,801		677		2,478		131		2013
Forrest Hill, NY		1,273		—		1,273		—		1,273		—		2013
Franklin Square, NY		153		331		137		347		484		146		1978
Friendship, NY		393		—		43		350		393		152		2006
Garden City, NY		361		243		236		368		604		155		1985
Garnerville, NY		1,508		—		1,508		—		1,508		—		2011
Glen Head, NY		234		219		103		350		453		347		1982
Glen Head, NY		461		284		301		444		745		215		1985
Glendale, NY		369		280		236		413		649		186		1985

82

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment			Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
						Land		Building and Improvements		Total Cost		Accumulated Depreciation
Great Neck, NY		500		252			450		302		752		120		1985
Greigsville, NY		1,018		—			203		815		1,018		449		2008
Hartsdale, NY		1,626		—			1,626		—		1,626		—		2011
Hawthorne, NY		2,084		—			2,084		—		2,084		—		2011
Hopewell Junction, NY		1,163		—			1,163		—		1,163		—		2011
Huntington Station, NY		141		284			84		341		425		155		1978
Hyde Park, NY		990		—			990		—		990		—		2011
Katonah, NY		1,084		—			1,084		—		1,084		—		2011
Lagrangeville, NY		130		1,043			64		1,109		1,173		382		1972
Lakeville, NY		1,028		—			203		825		1,028		458		2008
Levittown, NY		503		42			327		218		545		175		1985
Levittown, NY		546		87			356		277		633		210		1985
Long Island City, NY		2,717		—			1,183		1,534		2,717		269		2013
Mamaroneck, NY		1,429		—			1,429		—		1,429		—		2011
Massapequa, NY		333		285			217		401		618		168		1985
Mastic, NY		313		110			204		219		423		193		1985
Middletown, NY		719		—			719		—		719		—		2011
Middletown, NY		751		274			489		536		1,025		279		1985
Middletown, NY		1,281		—			1,281		—		1,281		—		2011
Millwood, NY		1,448		—			1,448		—		1,448		—		2011
Mount Kisco, NY		1,907		—			1,907		—		1,907		—		2011
Mount Vernon, NY		985		—			985		—		985		—		2011
Nanuet, NY		2,316		—			2,316		—		2,316		—		2011
New Paltz, NY		971		—			971		—		971		—		2011
New Rochelle, NY		188		344			104		428		532		176		1982
New Rochelle, NY		1,887		—			1,887		—		1,887		—		2011
New Windsor, NY		1,084		—			1,084		—		1,084		—		2011
New York, NY		126		399			78		447		525		263		1972
Newburgh, NY		527		—			527		—		527		—		2011
Newburgh, NY		1,192		—			1,192		—		1,192		—		2011
Niskayuna, NY		425		35			275		185		460		185		1986
North Lindenhurst, NY		295		243			192		346		538		145		1998
Ossining, NY		71		300			43		328		371		138		1977
Ossining, NY		231		219			117		333		450		108		1985
Ozone Park, NY		57		367			45		379		424		178		1976
Peekskill, NY		2,207		—			2,207		—		2,207		—		2011
Pelham, NY		1,035		—			1,035		—		1,035		—		2011
Pelham Manor, NY		137		307			75		369		444		183		1985
Pleasant Valley, NY		398		62			240		220		460		204		1986
Port Chester, NY		941		—			—		941		941		332		2011
Port Chester, NY		1,015		—			1,015		—		1,015		—		2011
Port Jefferson, NY		387		294			246		435		681		215		1985
Poughkeepsie, NY		591		—			591		—		591		—		2011
Poughkeepsie, NY		1,020		—			1,020		—		1,020		—		2011
Poughkeepsie, NY		1,231		(31	)		1,200		—		1,200		—		2011
Poughkeepsie, NY		1,306		—			1,306		—		1,306		—		2011
Poughkeepsie, NY		1,340		—			1,340		—		1,340		—		2011

83

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment		Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
					Land		Building and Improvements		Total Cost		Accumulated Depreciation
Poughkeepsie, NY		1,355		—		1,355		—		1,355		—		2011
Rego Park, NY		2,783		—		2,104		679		2,783		138		2013
Riverhead, NY		724		—		432		292		724		216		1998
Rochester, NY		559		—		159		400		559		173		2006
Rochester, NY		595		—		305		290		595		119		2008
Rockaway Beach, NY		111		277		79		309		388		125		1972
Rockville Centre, NY		350		66		201		215		416		189		1985
Rokaway Park, NY		1,605		—		1,605		—		1,605		—		2013
Rye, NY		872		—		872		—		872		—		2011
Sag Harbor, NY		704		35		458		281		739		221		1985
Savona, NY		1,314		—		964		350		1,314		152		2006
Sayville, NY		345		245		300		290		590		82		1998
Scarsdale, NY		1,301		—		1,301		—		1,301		—		2011
Shrub Oak, NY		1,061		508		691		878		1,569		491		1985
Sleepy Hollow, NY		281		332		130		483		613		348		1969
Smithtown, NY		88		287		51		324		375		135		1977
Spring Valley, NY		749		—		749		—		749		—		2011
St. Albans, NY		330		106		215		221		436		166		1985
Staten Island, NY		357		35		230		162		392		132		1985
Staten Island, NY		389		90		254		225		479		192		1985
Staten Island, NY		301		328		196		433		629		207		1985
Staten Island, NY		350		290		228		412		640		185		1985
Stony Brook, NY		176		281		105		352		457		163		1978
Tarrytown, NY		956		—		956		—		956		—		2011
Tuchahoe, NY		1,650		—		1,650		—		1,650		—		2011
Wantagh, NY		640		—		370		270		640		198		1998
Wappingers Falls, NY		452		—		—		452		452		242		2011
Wappingers Falls, NY		1,488		—		1,488		—		1,488		—		2011
Warsaw, NY		990		—		690		300		990		130		2006
Warwick, NY		1,049		—		1,049		—		1,049		—		2011
West Nyack, NY		936		—		936		—		936		—		2011
West Taghkanic, NY		203		442		122		523		645		305		1986
White Plains, NY		—		569		303		266		569		181		1972
White Plains, NY		1,458		—		1,458		—		1,458		—		2011
Yaphank, NY		—		798		375		423		798		103		1993
Yonkers, NY		—		610		—		610		610		251		1970
Yonkers, NY		—		1,040		780		260		1,040		81		1990
Yonkers, NY		1,020		64		665		419		1,084		332		1985
Yonkers, NY		291		1,052		216		1,127		1,343		364		1972
Yonkers, NY		1,907		—		1,907		—		1,907		—		2011
Yorktown Heights, NY		1,700		—		—		1,700		1,700		47		2013
Yorktown Heights, NY		2,365		—		2,365		—		2,365		—		2011
Crestline, OH		1,202		—		285		917		1,202		376		2008
Mansfield, OH		922		—		332		590		922		227		2008
Mansfield, OH		1,950		—		700		1,250		1,950		468		2009
Monroeville, OH		2,580		—		485		2,095		2,580		763		2009

84

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment			Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
						Land		Building and Improvements		Total Cost		Accumulated Depreciation
Banks, OR		498		—			498		—		498		—		2015
Estacada, OR		646		—			84		562		646		48		2015
Pendleton, OR		766		—			122		644		766		61		2015
Portland, OR		4,416		—			3,368		1,048		4,416		94		2015
Salem, OR		1,071		—			399		672		1,071		77		2015
Salem, OR		1,350		—			521		829		1,350		76		2015
Salem, OR		1,408		—			524		884		1,408		84		2015
Salem, OR		4,215		—			3,182		1,033		4,215		100		2015
Salem, OR		4,614		—			3,517		1,097		4,614		99		2015
Springfield, OR		1,398		—			796		602		1,398		67		2015
Allentown, PA		358		31			233		156		389		125		1985
Allison Park, PA		1,500		—			850		650		1,500		343		2010
Harrisburg, PA		399		213			199		413		612		313		1989
Havertown, PA		402		63			254		211		465		146		1985
Lancaster, PA		643		17			300		360		660		360		1989
New Holland, PA		313		24			143		194		337		185		1989
New Kensington, PA		1,375		—			675		700		1,375		207		2010
New Oxford, PA		1,045		(75	)		181		789		970		777		1996
Philadelphia, PA		406		175			264		317		581		244		1985
Philadelphia, PA		1,252		—			814		438		1,252		139		2009
Pottsville, PA		451		2			148		305		453		304		1990
Reading, PA		750		49			—		799		799		799		1989
Ashaway, RI		619		—			402		217		619		105		2004
Barrington, RI		490		180			319		351		670		233		1985
East Providence, RI		2,298		(1,687	)		89		522		611		—		1985
N. Providence, RI		542		159			353		348		701		219		1985
Austin, TX		462		—			274		188		462		119		2007
Austin, TX		2,368		—			738		1,630		2,368		730		2007
Austin, TX		3,511		—			1,595		1,916		3,511		868		2007
Bedford, TX		353		—			113		240		353		164		2007
Ft Worth, TX		2,115		—			866		1,249		2,115		633		2007
Garland, TX		3,296		—			245		3,051		3,296		286		2014
Garland, TX		4,439		—			439		4,000		4,439		392		2014
Harker Heights, TX		2,051		(9	)		579		1,463		2,042		1,081		2007
Houston, TX		1,689		—			224		1,465		1,689		623		2007
Houston, TX		2,803		—			535		2,268		2,803		17		2016
Keller, TX		2,507		—			996		1,511		2,507		719		2007
Lewisville, TX		494		—			110		384		494		204		2008
Midlothian, TX		429		—			72		357		429		208		2007
Port Arthur, TX		2,648		—			505		2,143		2,648		17		2016
San Marcos, TX		1,954		—			251		1,703		1,954		745		2007
Temple, TX		2,406		(11	)		1,205		1,190		2,395		580		2007
The Colony, TX		4,396		—			337		4,059		4,396		1,675		2007
Waco, TX		3,884		—			894		2,990		3,884		1,465		2007
Alexandria, VA		649		—			649		—		649		—		2013
Alexandria, VA		656		—			409		247		656		56		2013
Alexandria, VA		712		—			712		—		712		—		2013
Alexandria, VA		735		—			735		—		735		—		2013
Alexandria, VA		1,327		—			1,327		—		1,327		—		2013
Alexandria, VA		1,388		—			1,020		368		1,388		85		2013

85

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment			Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
						Land		Building and Improvements		Total Cost		Accumulated Depreciation
Alexandria, VA		1,582		—			1,150		432		1,582		91		2013
Alexandria, VA		1,757		—			1,313		444		1,757		99		2013
Annandale, VA		1,718		—			1,718		—		1,718		—		2013
Arlington, VA		1,083		—			1,083		—		1,083		—		2013
Arlington, VA		1,464		—			1,085		379		1,464		81		2013
Arlington, VA		2,014		—			1,516		498		2,014		104		2013
Arlington, VA		2,062		—			1,603		459		2,062		95		2013
Ashland, VA		840		—			840		—		840		—		2005
Chesapeake, VA		780		(186	)		398		196		594		48		1990
Chesapeake, VA		1,004		110			385		729		1,114		647		1990
Fairfax, VA		1,825		—			1,190		635		1,825		132		2013
Fairfax, VA		2,078		—			1,365		713		2,078		128		2013
Fairfax, VA		3,348		—			2,351		997		3,348		195		2013
Fairfax, VA		4,454		—			3,370		1,084		4,454		213		2013
Farmville, VA		1,227		—			622		605		1,227		285		2005
Fredericksburg, VA		1,279		—			469		810		1,279		381		2005
Fredericksburg, VA		1,289		24			798		515		1,313		247		2005
Fredericksburg, VA		1,716		—			996		720		1,716		339		2005
Fredericksburg, VA		3,623		—			2,828		795		3,623		374		2005
Glen Allen, VA		1,037		—			412		625		1,037		294		2005
Glen Allen, VA		1,077		—			322		755		1,077		355		2005
King William, VA		1,688		—			1,068		620		1,688		292		2005
Mechanicsville, VA		903		—			273		630		903		296		2005
Mechanicsville, VA		957		—			324		633		957		323		2005
Mechanicsville, VA		1,043		—			223		820		1,043		386		2005
Mechanicsville, VA		1,125		—			505		620		1,125		292		2005
Mechanicsville, VA		1,476		—			876		600		1,476		282		2005
Mechanicsville, VA		1,677		—			1,157		520		1,677		245		2005
Montpelier, VA		2,481		(114	)		1,612		755		2,367		355		2005
Norfolk, VA		535		6			311		230		541		230		1990
Petersburg, VA		1,441		—			816		625		1,441		294		2005
Portsmouth, VA		562		34			222		374		596		363		1990
Richmond, VA		1,132		(41	)		506		585		1,091		275		2005
Ruther Glen, VA		466		—			31		435		466		205		2005
Sandston, VA		722		—			102		620		722		292		2005
Spotsylvania, VA		1,290		—			490		800		1,290		376		2005
Springfield, VA		4,257		—			2,969		1,288		4,257		250		2013
Auburn, WA		3,022		—			1,965		1,057		3,022		99		2015
Bellevue, WA		1,725		—			886		839		1,725		79		2015
Chehalis, WA		1,176		—			313		863		1,176		89		2015
Colfax, WA		4,800		—			3,611		1,189		4,800		112		2015
Federal Way, WA		4,218		—			2,973		1,245		4,218		126		2015
Fife, WA		1,181		—			414		767		1,181		78		2015
Kent, WA		2,900		—			2,066		834		2,900		85		2015
Monroe, WA		2,792		—			1,556		1,236		2,792		119		2015
Port Orchard, WA		2,019		—			161		1,858		2,019		149		2015
Puyallup, WA		831		—			172		659		831		72		2015
Puyallup, WA		2,035		—			465		1,570		2,035		145		2015
Puyallup, WA		4,050		—			2,394		1,656		4,050		190		2015

86

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment		Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
					Land		Building and Improvements		Total Cost		Accumulated Depreciation
Renton, WA		1,485		—		952		533		1,485		68		2015
Seattle, WA		346		—		346		—		346		—		2015
Seattle, WA		717		—		193		524		717		47		2015
Seattle, WA		1,884		—		1,223		661		1,884		60		2015
Silverdale, WA		2,178		—		1,217		961		2,178		97		2015
Snohomish, WA		955		—		955		—		955		—		2015
South Bend, WA		760		—		121		639		760		56		2015
Spokane, WA		346		—		346		—		346		—		2015
Tacoma, WA		518		—		518		—		518		—		2015
Tacoma, WA		671		—		671		—		671		—		2015
Tenino, WA		937		—		219		718		937		64		2015
Vancouver, WA		1,214		—		163		1,051		1,214		84		2015
Wilbur, WA		629		—		153		476		629		47		2015
Miscellaneous		32,937		11,470		14,749		29,658		44,407		19,388		various
	$	720,099	$	62,067	$	474,232	$	307,934	$	782,166	$	120,576

1) Initial cost of leasehold or acquisition investment to company represents the aggregate of the cost incurred during the year in which we purchased the property for owned properties or purchased a leasehold interest in leased properties. Cost capitalized subsequent to initial investment includes investments made in previously leased properties prior to their acquisition.

2) Depreciation of real estate is computed on the straight-line method based upon the estimated useful lives of the assets, which generally range from 16 to 25 years for buildings and improvements, or the term of the lease if shorter. Leasehold interests are amortized over the remaining term of the underlying lease.

3) The aggregate cost for federal income tax purposes was approximately $617,464,000 at December 31, 2016.

87

GETTY REALTY CORP. and SUBSIDIARIES

SCHEDULE IV—MORTGAGE LOANS ON REAL ESTATE

As of December 31, 2016

(in thousands)

Type of Loan/Borrower	Description		Location(s)	Interest Rate			Final Maturity Date		Periodic Payment Terms (a)		Prior Liens		Face Value at Inception		Amount of Principal Unpaid at Close of Period
Mortgage Loans:
Borrower A		Seller financing	Horsham, PA		10.0	%		7/2024		P & I		—	$	237	$	146
Borrower B		Seller financing	Green Island, NY		11.0	%		8/2018		P & I		—		298		75
Borrower C		Seller financing	Concord, NH		9.5	%		8/2028		P & I		—		210		165
Borrower D		Seller financing	Irvington, NJ		10.0	%		7/2022		P & I		—		300		202
Borrower E		Seller financing	Kernersville/Lexington, NC		8.0	%		7/2026		P & I		—		568		291
Borrower F		Seller financing	Wantagh, NY		9.0	%		5/2032		P & I		—		455		409
Borrower G		Seller financing	Fullerton Hts, MD		9.0	%		5/2019		P & I		—		225		35
Borrower H		Seller financing	Springfield, MA		9.0	%		7/2019		P & I		—		131		108
Borrower I		Seller financing	E. Patchogue, NY		9.0	%		8/2019		P & I		—		200		181
Borrower J		Seller financing	Union City, NJ		9.0	%		9/2019		P & I		—		800		740
Borrower K		Seller financing	Bronx, NY		9.0	%		12/2019		P & I		—		240		121
Borrower L		Seller financing	Seaford, NY		9.0	%		1/2020		P & I		—		488		446
Borrower M		Seller financing	Spotswood, NJ		9.0	%		1/2020		P & I		—		306		280
Borrower N		Seller financing	Freeport, NY		9.0	%		5/2020		P & I		—		206		191
Borrower O		Seller financing	Pleasant Valley, NY		9.0	%		9/2020		P & I		—		230		214
Borrower P		Seller financing	Fairhaven, MA		9.0	%		9/2020		P & I		—		458		427
Borrower Q		Seller financing	Baldwin, NY		9.0	%		9/2020		P & I		—		300		282
Borrower R		Seller financing	Leicester, MA		9.0	%		10/2020		P & I		—		268		251
Borrower S		Seller financing	Valley Cottage, NY		9.0	%		10/2020		P & I		—		431		403
Borrower T		Seller financing	Ephrata, PA		9.0	%		10/2020		P & I		—		265		247
Borrower U		Seller financing	Piscataway, NJ		9.0	%		11/2020		P & I		—		121		103
Borrower V		Seller financing	Westfield, MA		9.0	%		11/2020		P & I		—		165		155
Borrower W		Seller financing	Wilmington, DE		9.0	%		11/2020		P & I		—		84		79
Borrower X		Seller financing	Gettysburg, PA		9.0	%		11/2020		P & I		—		69		64
Borrower Y		Seller financing	Kenmore, NY		9.0	%		12/2020		P & I		—		74		70
Borrower Z		Seller financing	Stafford Springs, CT		9.0	%		1/2021		P & I		—		232		218
Borrower AA		Seller financing	Latham, NY		9.0	%		1/2021		P & I		—		169		159
Borrower AB		Seller financing	Magnolia, NJ		9.0	%		6/2020		P & I		—		53		49
Borrower AC		Seller financing	Colonia, NJ		9.0	%		7/2020		P & I		—		320		297
Borrower AD		Seller financing	Jersey City, NJ		9.0	%		7/2018		P & I		—		500		464
Borrower AE		Seller financing	Elmont, NY		9.0	%		10/2021		P & I		—		450		384
Borrower AF		Seller financing	Leola, PA		9.0	%		3/2020		P & I		—		220		202
Borrower AG		Seller financing	Lititz/Rothsville, PA		9.0	%		3/2020		P & I		—		180		166
Borrower AH		Seller financing	Bayonne, NJ		9.0	%		3/2020		P & I		—		308		283
Borrower AI		Seller financing	Ballston, NY		9.0	%		5/2020		P & I		—		225		208
Borrower AJ		Seller financing	Waterbury, CT		9.0	%		2/2021		P & I		—		171		161
Borrower AK		Seller financing	White Plains, NY		9.0	%		2/2021		P & I		—		444		418
Borrower AL		Seller financing	Scarsdale, NY		9.0	%		11/2025		P & I		—		337		317
Borrower AM		Seller financing	York, PA		9.0	%		2/2021		P & I		—		102		96
Borrower AN		Seller financing	Bristol, CT		9.0	%		3/2021		P & I		—		230		217
Borrower AO		Seller financing	Belleville, NJ		9.0	%		3/2021		P & I		—		315		297
Borrower AP		Seller financing	Southbridge, MA		9.0	%		3/2021		P & I		—		300		283
Borrower AQ		Seller financing	Ridgefield, NJ		9.0	%		4/2021		P & I		—		172		163
Borrower AR		Seller financing	Glenville, NY		9.0	%		4/2021		P & I		—		325		308

88

Type of Loan/Borrower	Description		Location(s)	Interest Rate			Final Maturity Date		Periodic Payment Terms (a)			Prior Liens		Face Value at Inception		Amount of Principal Unpaid at Close of Period
Borrower AS		Seller financing	Great Barrington, MA		9.0	%		4/2021		P & I			—		58		55
Borrower AT		Seller financing	Rockland, MA		9.0	%		4/2021		P & I			—		134		127
Borrower AU		Seller financing	Williamstown, NJ		9.0	%		4/2021		P & I			—		42		40
Borrower AV		Seller financing	Belford, NJ		9.0	%		4/2021		P & I			—		134		127
Borrower AW		Seller financing	Swedesboro, NJ		9.0	%		4/2021		P & I			—		77		72
Borrower AX		Seller financing	Hatboro, PA		9.0	%		4/2021		P & I			—		84		80
Borrower AY		Seller financing	Middlesex, NJ		9.0	%		5/2021		P & I			—		255		242
Borrower AZ		Seller financing	Coxsackie, NY		9.0	%		7/2021		P & I			—		153		146
Borrower BA		Seller financing	Newburgh, NY		9.0	%		9/2021		P & I			—		394		376
Borrower BB		Seller financing	Providence, RI		9.0	%		9/2021		P & I			—		184		175
Borrower BC		Seller financing	Warwick, RI		9.0	%		10/2021		P & I			—		357		342
Borrower BD		Seller financing	New Bedford, MA		9.0	%		10/2021		P & I			—		363		347
Borrower BE		Seller financing	Fitchburg, MA		9.0	%		10/2021		P & I			—		187		179
Borrower BF		Seller financing	Queensbury, NY		9.0	%		11/2021		P & I			—		176		169
Borrower BG		Seller financing	Worcester, MA		9.0	%		11/2021		P & I			—		237		227
Borrower BH		Seller financing	Westfield, MA		9.0	%		11/2021		P & I			—		303		291
Borrower BI		Seller financing	S. Yarmouth, MA		9.0	%		1/2022		P & I			—		275		265
Borrower BJ		Seller financing	Harwich Port, MA		9.0	%		1/2022		P & I			—		293		282
Borrower BK		Seller financing	Nyack, NY		9.0	%		9/2022		P & I			—		253		248
Borrower BL		Seller financing	Norwalk, CT		9.0	%		4/2022		P & I			—		319		308
Borrower BM		Seller financing	Hadley, MA		9.0	%		7/2022		P & I			—		78		75
Borrower BN		Seller financing	Clinton, MA		9.0	%		3/2022		P & I			—		158		140
Borrower BO		Seller financing	Worcester, MA		9.0	%		2/2022		P & I			—		210		202
Borrower BP		Seller financing	Pelham, NH		9.0	%		01/2023		P & I			—		73		71
Borrower BQ		Seller financing	Brewster, NY		9.0	%		10/2022		P & I			—		554		542
Borrower BR		Seller financing	Brewster, NY		9.0	%		8/2022		P & I			—		333		324
Borrower BS		Seller financing	Cranston, RI		9.0	%		8/2022		P & I			—		153		149
Borrower BT		Seller financing	Pawtucket, RI		9.0	%		1/2023		P & I			—		31		30
Borrower BU		Seller financing	E. Providence, RI		9.0	%		2/2022		P & I			—		186		179
Borrower BV		Seller financing	McConnellsburg, PA		9.0	%		1/2023		P & I			—		38		38
Borrower BW		Seller financing	Billerica, MA		9.0	%		03/2023		P & I			—		98		96
Borrower BX		Seller financing	Oxford, MA		9.0	%		03/2023		P & I			—		86		84
Borrower BY		Seller financing	Colonie, NY		9.0	%		08/2023		P & I			—		143		142
Borrower BZ		Seller financing	Malta, NY		9.0	%		03/2023		P & I			—		572		564
Borrower CA		Seller financing	Cairo, NY		9.0	%		08/2023		P & I			—		113		112
Borrower CB		Seller financing	Central Islip, NY		9.0	%		06/2023		P & I			—		780		773
Borrower CC		Seller financing	Pottsville, PA		9.0	%		03/2023		P & I			—		23		23
															20,089		18,017
Note receivable
		Purchase/leaseback	Various-NY		9.5	%		1/2021		I	(b)				18,400		14,720
Total (c)														$	38,489	$	32,737

(a) P & I = Principal and interest paid monthly.

(b) I = Interest only paid monthly with principal deferred.

(c) The aggregate cost for federal income tax purposes approximates the amount of principal unpaid.

We review payment status to identify performing versus non-performing loans. Interest income on performing loans is accrued as earned. A non-performing loan is placed on non-accrual status when it is probable that the borrower may be unable to meet interest

89

payments as they become due. Generally, loans 90 days or more past due are placed on non-accrual status unless there is sufficient collateral to assure collectability of principal and interest. Upon the designation of non-accrual status, all unpaid accrued interest is reserved against through current income. Interest income on non-performing loans is generally recognized on a cash basis. The summarized changes in the carrying amount of mortgage loans are as follows:

	2016			2015			2014
Balance at January 1,	$	48,455		$	34,226		$	28,793
Additions:
New mortgage loans		1,814			17,876			8,278
Deductions:
Loan repayments		(16,714	)		(2,883	)		(2,294	)
Collection of principal		(818	)		(764	)		(489	)
Write-off of loan balance		—			—			(62	)
Balance at December 31,	$	32,737		$	48,455		$	34,226

90

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.

Getty Realty Corp. (Registrant)
By:	/S/ DANION FIELDING
	Danion Fielding
	Vice President, Chief Financial Officer and Treasurer (Principal Financial Officer)
	March 2, 2017
By:	/S/ EUGENE SHNAYDERMAN
	Eugene Shnayderman
	Chief Accounting Officer and Controller (Principal Accounting Officer)
	March 2, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this Annual Report on Form 10-K has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:	/S/ CHRISTOPHER J. CONSTANT	By:	/S/ HOWARD SAFENOWITZ
	Christopher J. Constant President, Chief Executive Officer and Director (Principal Executive Officer) March 2, 2017		Howard Safenowitz Director March 2, 2017
By:	/S/ LEO LIEBOWITZ	By:	/S/ PHILIP E. COVIELLO
	Leo Liebowitz Director and Chairman of the Board March 2, 2017		Philip E. Coviello Director March 2, 2017
By:	/S/ MILTON COOPER	By:	/S/ RICHARD E. MONTAG
	Milton Cooper Director March 2, 2017		Richard E. Montag Director March 2, 2017

91

EXHIBIT INDEX

GETTY REALTY CORP.

Annual Report on Form 10-K

for the year ended December 31, 2016

Exhibit Number	Description of Document	Location of Document
3.1	Articles of Incorporation of Getty Realty Holding Corp. (“Holdings”), now known as Getty Realty Corp., filed December 23, 1997.	Filed as Exhibit 3.1 to Company’s Registration Statement on Form S-4, filed on January 12, 1998 (File No. 333- 44065), included as Appendix D. to the Joint Proxy/Prospectus that is a part thereof, and incorporated herein by reference.
3.2	Articles Supplementary to Articles of Incorporation of Holdings, filed January 21, 1998.	Filed as Exhibit 3.2 to Company’s Annual Report on Form 10-K for the year ended December 31, 2008 (File No. 001-13777) and incorporated herein by reference.
3.3	By-Laws of Getty Realty Corp.	Filed as Exhibit 3.2 to Company’s Current Report on Form 8-K filed November 14, 2011 (File No. 001-13777) and incorporated herein by reference.
3.4	Articles of Amendment of Holdings, changing its name to Getty Realty Corp., filed January 30, 1998.	Filed as Exhibit 3.4 to Company’s Annual Report on Form 10-K for the year ended December 31, 2008 (File No. 001-13777) and incorporated herein by reference.
3.5	Amendment to Articles of Incorporation of Holdings, filed August 1, 2001.	Filed as Exhibit 3.5 to Company’s Annual Report on Form 10-K for the year ended December 31, 2008 (File No. 001-13777) and incorporated herein by reference.
4.1	Dividend Reinvestment/Stock Purchase Plan.	Filed under the heading “Description of Plan” on pages 4 through 17 to Company’s Registration Statement on Form S-3D, filed on April 22, 2004 (File No. 333-114730) and incorporated herein by reference.
10.1*	Retirement and Profit Sharing Plan (restated as of December 1, 2012).	Filed as Exhibit 10.1 to Company’s Annual Report on Form 10-K for the year ended December 31, 2012 (File No. 001-13777) and incorporated herein by reference.
10.2*	1998 Stock Option Plan, effective as of January 30,1998.	Filed as Exhibit 10.1 to Company’s Registration Statement on Form S-4, filed on January 12, 1998 (File No. 333-44065), included as Appendix H to the Joint Proxy Statement/Prospectus that is a part thereof, and incorporated herein by reference.
10.3*	Form of Indemnification Agreement between the Company and its directors.	Filed as Exhibit 10.5 to Company’s Annual Report on Form 10-K for the year ended December 31, 2008 (File No. 001-13777) and incorporated herein by reference.
10.4*	Amended and Restated Supplemental Retirement Plan for Executives of the Getty Realty Corp. and Participating Subsidiaries (adopted by the Company on December 16, 1997 and amended and restated effective January 1, 2009).	Filed as Exhibit 10.6 to Company’s Annual Report on Form 10-K for the year ended December 31, 2008 (File No. 001-13777) and incorporated herein by reference.
10.6*	2004 Getty Realty Corp. Omnibus Incentive Compensation Plan.	Filed as Appendix B to the Definitive Proxy Statement of the Company filed April 9, 2004 (File No. 001-13777) and incorporated herein by reference.

92

Exhibit Number	Description of Document	Location of Document
10.7*	Form of restricted stock unit grant award under the 2004 Getty Realty Corp. Omnibus Incentive Compensation Plan, as amended.	Filed as Exhibit 10.15 to Company’s Annual Report on Form 10-K for the year ended December 31, 2008 (File No. 001-13777) and incorporated herein by reference.
10.8*	Amendment to the 2004 Getty Realty Corp. Omnibus Incentive Compensation Plan dated December 31, 2008.	Filed as Exhibit 10.19 to Company’s Annual Report on Form 10-K for the year ended December 31, 2008 (File No. 001-13777) and incorporated herein by reference.
10.10**	Unitary Net Lease Agreement between GTY NY Leasing, Inc. and CPD NY Energy Corp., dated as of January 13, 2011.	Filed as Exhibit 10.1 to Company’s Quarterly Report on Form 10-Q filed May, 12, 2011 (File No. 001-13777) and incorporated herein by reference.
10.15*	Form of incentive restricted stock unit grant award under the 2004 Getty Realty Corp. Omnibus Incentive Compensation Plan, as amended.	Filed as Exhibit 10.3 to Company’s Quarterly Report on Form 10-Q filed May 10, 2013 (File No. 001-13777) and incorporated herein by reference.
10.18*	Getty Realty Corp. Amended and Restated 2004 Omnibus Incentive Compensation Plan.	Filed as Exhibit 10.18 to the Company’s Annual Report on Form 10-K filed on March 16, 2015 (File No. 001-13777) and incorporated herein by reference.
10.19	Settlement Agreement regarding claims of Getty Properties Corp., GettyMart Inc., and Leemilt’s Petroleum, Inc. dated March 3, 2015.	Filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K filed on March 10, 2015 (File No. 001-13777) and incorporated herein by reference.
10.20**	Credit Agreement, dated as of June 2, 2015, among Getty Realty Corp., certain of its subsidiaries party thereto, Bank of America, N.A. as Administrative Agent, Swing Line Lender, an L/C Issuer and as a Lender, and the other leaders party thereto.	Filed as Exhibit 10.1 to the Company’s Form 10-Q filed on August 10, 2015 (File No. 001-13777) and incorporated herein by reference.
10.21**	Amended and Restated Note Purchase and Guarantee Agreement, dated as of June 2, 2015, among Getty Realty Corp., certain of its subsidiaries party thereto, the Prudential Insurance Company of America, and the Prudential Retirement Insurance and Annuity Company.	Filed as Exhibit 10.2 to the Company’s Form 10-Q filed on August 10, 2015 (File No. 001-13777) and incorporated herein by reference.
10.22**	Master Land and Building Lease (Pool 1) between GTY-Pacific Leasing, LLC and Apro, LLC, dated as of June 3, 2015.	Filed as Exhibit 10.3 to the Company’s Form 10-Q filed on August 10, 2015 (File No. 001-13777) and incorporated herein by reference.
10.23**	Master Land and Building Lease (Pool 2) between GTY-Pacific Leasing, LLC and Apro, LLC, dated as of June 3, 2015.	Filed as Exhibit 10.4 to the Company’s Form 10-Q filed on August 10, 2015 (File No. 001-13777) and incorporated herein by reference.
10.24**	Master Land and Building Lease (Pool 3) between GTY-Pacific Leasing, LLC and Apro, LLC, dated as of June 3, 2015.	Filed as Exhibit 10.5 to the Company’s Form 10-Q filed on August 10, 2015 (File No. 001-13777) and incorporated herein by reference.
10.27	Distribution Agreement by and among Getty Realty Corp., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, KeyBanc Capital Markets Inc., RBC Capital Markets, LLC, Canaccord Genuity Inc. and JMP Securities LLC dated June 6, 2016	Filed as Exhibit 1.1 to the Company’s Form 8-K filed on June 6, 2016 (File No. 001-13777) and incorporated herein by reference.
21	Subsidiaries of the Company.	Filed herewith.
23	Consent of Independent Registered Public Accounting Firm.	Filed herewith.

93

Exhibit Number	Description of Document	Location of Document
31.1	Certification of Christopher J. Constant, President and Chief Executive Officer, pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended.	Filed herewith.
31.2	Certification of Danion Fielding, Vice President, Chief Financial Officer and Treasurer, pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended.	Filed herewith.
32.1	Certification of Christopher J. Constant, President and Chief Executive Officer, pursuant to Rule 13a-14(b) under the Securities Exchange Act of 1934, as amended, and 18 U.S.C. § 1350.	Filed herewith.
32.2	Certification of Danion Fielding, Vice President, Chief Financial Officer and Treasurer, pursuant to Rule 13a-14(b) under the Securities Exchange Act of 1934, as amended, and 18 U.S.C. § 1350.	Filed herewith.
101.INS	XBRL Instance Document	Filed herewith.
101.SCH	XBRL Taxonomy Extension Schema	Filed herewith.
101.CAL	XBRL Taxonomy Extension Calculation Linkbase	Filed herewith.
101.DEF	XBRL Taxonomy Extension Definition Linkbase	Filed herewith.
101.LAB	XBRL Taxonomy Extension Label Linkbase	Filed herewith.
101.PRE	XBRL Taxonomy Extension Presentation Linkbase	Filed herewith.

* Management contract or compensatory plan or arrangement.

** Confidential treatment has been granted for certain portions of this Exhibit pursuant to Rule 24b-2 under the Exchange Act, which portions are omitted and filed separately with the SEC.

The exhibits listed in this Exhibit Index which were filed or furnished with our 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission are available upon payment of a $25 fee per exhibit, upon request from us, by writing to Investor Relations addressed to Getty Realty Corp., Two Jericho Plaza, Suite 110, Jericho, NY 11753-1681. Our website address is www.gettyrealty.com. Our website contains a hyperlink to the EDGAR database of the Securities and Exchange Commission at www.sec.gov where you can access, free-of-charge, each exhibit that was filed or furnished with our 2016 Annual Report on Form 10-K.

94

EX-21

EXHIBIT 21. SUBSIDIARIES OF THE COMPANY

SUBSIDIARY	STATE OF INCORPORATION
AOC Transport, Inc.	Delaware
GettyMart Inc.	Delaware
Getty HI Indemnity, Inc.	New York
Getty Leasing, Inc.	Delaware
Getty Properties Corp.	Delaware
Getty TM Corp.	Maryland
GTY MA/NH Leasing, Inc.	Delaware
GTY MD Leasing, Inc.	Delaware
GTY NY Leasing, Inc.	Delaware
GTY-CPG (VA/DC) Leasing, Inc.	Delaware
GTY-CPG (QNS/BX) Leasing, Inc.	Delaware
GTY-Pacific Leasing, LLC	Delaware
Leemilt’s Petroleum, Inc.	New York
Power Test Realty Company Limited Partnership*	New York
Slattery Group Inc.	New Jersey

* Ninety-nine percent owned by the Company, representing the limited partner units, and one percent owned by Getty Properties Corp., representing the general partner interest.

EX-23

EXHIBIT 23. CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (Nos. 333-115672 and 333-45249) and Form S-3 (No. 333-200913) of Getty Realty Corp. of our report dated March 2, 2017 relating to the financial statements and the effectiveness of internal control over financial reporting, which appears in this Form 10-K.

/s/ PricewaterhouseCoopers LLP

New York, New York

March 2, 2017

EX-31.1

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

I, Christopher J. Constant, certify that:

1. I have reviewed this Annual Report on Form 10-K of Getty Realty Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the consolidated financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting, which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: March 2, 2017
By:	/s/ CHRISTOPHER J. CONSTANT
	Christopher J. Constant
	President and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

I, Danion Fielding, certify that:

1. I have reviewed this Annual Report on Form 10-K of Getty Realty Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the consolidated financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: March 2, 2017
By:	/s/ DANION FIELDING
	Danion Fielding Vice President, Chief Financial Officer and Treasurer

EX-32.1

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

Pursuant to 18 U.S.C. Section 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of Getty Realty Corp. (the “Company”) hereby certifies, to such officer’s knowledge, that:

(i) the Annual Report on Form 10-K of the Company for the annual period ended December 31, 2016 (the “Report”) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

(ii) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: March 2, 2017

By:	/s/ CHRISTOPHER J. CONSTANT
	Christopher J. Constant
	President and Chief Executive Officer

A signed original of this written statement required by Section 906 has been provided to Getty Realty Corp. and will be retained by Getty Realty Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished solely to accompany the Report pursuant to 18 U.S.C. Section 1350, and is not being filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

EX-32.2

Exhibit 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

Pursuant to 18 U.S.C. Section 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of Getty Realty Corp. (the “Company”) hereby certifies, to such officer’s knowledge, that:

(i) the Annual Report on Form 10-K of the Company for the annual period ended December 31, 2016 (the “Report”) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

(ii) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: March 2, 2017

By:	/s/ DANION FIELDING
	Danion Fielding
	Vice President, Chief Financial Officer and Treasurer

A signed original of this written statement required by Section 906 has been provided to Getty Realty Corp. and will be retained by Getty Realty Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished solely to accompany the Report pursuant to 18 U.S.C. Section 1350, and is not being filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

XML

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 02, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Trading Symbol	GTY
Entity Registrant Name	GETTY REALTY CORP /MD/
Entity Central Index Key	0001052752
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		34,573,340
Entity Public Float			$ 570,105,000

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real Estate:
Land	$ 474,115	$ 475,784
Buildings and improvements	306,980	304,894
Construction in progress	426	955
Total real estate held for use, gross	781,521	781,633
Less accumulated depreciation and amortization	(120,576)	(107,109)
Real estate held for use, net	660,945	674,524
Real estate held for sale, net	645	1,339
Real estate, net	661,590	675,863
Investment in direct financing leases, net	92,097	94,098
Notes and mortgages receivable	32,737	48,455
Cash and cash equivalents	12,523	3,942
Restricted cash	671	409
Deferred rent receivable	29,966	25,450
Accounts receivable, net of allowance of $2,006 and $2,634, respectively	4,118	2,975
Prepaid expenses and other assets	43,604	45,726
Total assets	877,306	896,918
LIABILITIES AND SHAREHOLDERS' EQUITY:
Borrowings under credit agreement, net	123,801	142,100
Senior unsecured notes, net	174,743	174,689
Mortgage payable, net		303
Environmental remediation obligations	74,516	84,345
Dividends payable	9,742	15,897
Accounts payable and accrued liabilities	63,586	73,023
Total liabilities	446,388	490,357
Commitments and contingencies (notes 2, 3, 4 and 5)
Shareholders' equity:
Preferred stock, $0.01 par value; 20,000,000 shares authorized; unissued
Common stock, $0.01 par value; 50,000,000 shares authorized; 34,393,114 and 33,422,170 shares issued and outstanding, respectively	344	334
Additional paid-in capital	485,659	464,338
Dividends paid in excess of earnings	(55,085)	(58,111)
Total shareholders' equity	430,918	406,561
Total liabilities and shareholders' equity	$ 877,306	$ 896,918

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance on accounts receivable	$ 2,006	$ 2,634
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	34,393,114	33,422,170
Common stock, shares outstanding	34,393,114	33,422,170

XML

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Revenues from rental properties	$ 97,939	$ 92,889	$ 82,971
Tenant reimbursements	13,784	14,146	13,777
Interest on notes and mortgages receivable	3,543	3,698	3,145
Total revenues	115,266	110,733	99,893
Operating expenses:
Property costs	22,725	23,649	23,768
Impairments	6,888	11,615	12,938
Environmental	2,578	6,222	4,612
General and administrative	14,154	16,930	15,777
(Recoveries) allowance for uncollectible accounts	(448)	1,053	3,408
Depreciation and amortization	19,170	16,974	10,549
Total operating expenses	65,067	76,443	71,052
Operating income	50,199	34,290	28,841
Gains on dispositions of real estate	6,418	2,272	1,223
Other income, net	2,025	18,301	147
Interest expense	(16,561)	(14,493)	(9,806)
Earnings from continuing operations	42,081	40,370	20,405
Discontinued operations:
Loss from operating activities	(3,465)	(3,299)	(5,982)
(Loss) gains on dispositions of real estate	(205)	339	8,995
(Loss) earnings from discontinued operations	(3,670)	(2,960)	3,013
Net earnings	$ 38,411	$ 37,410	$ 23,418
Basic and diluted earnings per common share:
Earnings from continuing operations	$ 1.23	$ 1.20	$ 0.60
(Loss) earnings from discontinued operations	(0.11)	(0.09)	0.09
Net earnings	$ 1.12	$ 1.11	$ 0.69
Weighted average common shares outstanding:
Basic and diluted	33,806	33,420	33,409

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Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 38,411,000	$ 37,410,000	$ 23,418,000
Adjustments to reconcile net earnings to net cash flow provided by operating activities:
Depreciation and amortization expense	19,170,000	16,974,000	10,549,000
Impairment charges	12,814,000	17,361,000	21,534,000
(Gains) loss on dispositions of real estate
Continuing operations	(6,418,000)	(2,272,000)	(1,223,000)
Discontinued operations	205,000	(339,000)	(8,995,000)
Deferred rent receivable, net of allowance	(4,516,000)	(4,401,000)	(4,156,000)
(Recoveries) allowance for uncollectible accounts	(448,000)	1,089,000	1,278,000
Amortization of above-market and below-market leases	(569,000)	(1,496,000)	(28,000)
Amortization of credit agreement and senior unsecured notes origination costs	851,000	1,150,000	1,068,000
Accretion expense	4,107,000	4,829,000	3,046,000
Stock-based employee compensation expense	1,426,000	1,090,000	917,000
Changes in assets and liabilities:
Accounts receivable	(2,382,000)	(1,546,000)	(730,000)
Prepaid expenses and other assets	445,000	(189,000)	3,934,000
Environmental remediation obligations	(24,640,000)	(23,485,000)	(16,368,000)
Accounts payable and accrued liabilities	(1,582,000)	3,513,000	(5,007,000)
Net cash flow provided by operating activities	36,874,000	49,688,000	29,237,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Property acquisitions	(7,688,000)	(219,192,000)	(17,098,000)
Capital expenditures	(298,000)	(334,000)	(140,000)
Addition to construction in progress	(406,000)	(687,000)
Proceeds from dispositions of real estate
Continuing operations	3,957,000	5,604,000	4,776,000
Discontinued operations	88,000	1,424,000	15,289,000
Deposits for property acquisitions	(2,206,000)	2,844,000	16,226,000
Change in restricted cash	(262,000)	304,000	287,000
Amortization of investment in direct financing leases	2,001,000	1,666,000	1,382,000
Collection of notes and mortgages receivable	17,532,000	3,647,000	2,783,000
Net cash flow provided by (used in) investing activities	12,718,000	(204,724,000)	23,505,000
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under credit agreements	8,000,000	186,000,000	3,000,000
Repayments under credit agreements	(27,000,000)	(67,000,000)	(36,000,000)
Borrowings under senior unsecured notes		75,000,000
Payments of capital lease obligations	(236,000)	(249,000)	(255,000)
Repayment of mortgage payable	(400,000)	(50,000)	(50,000)
Payments of cash dividends	(36,231,000)	(35,150,000)	(28,675,000)
Payments of loan origination costs		(2,432,000)
Security deposits received (refunded)	260,000	(187,000)	314,000
Cash paid in settlement of restricted stock units	(290,000)	(65,000)
Proceeds from issuance of common stock, net	14,886,000
Net cash flow (used in) provided by financing activities	(41,011,000)	155,867,000	(61,666,000)
Change in cash and cash equivalents	8,581,000	831,000	(8,924,000)
Cash and cash equivalents at beginning of year	3,942,000	3,111,000	12,035,000
Cash and cash equivalents at end of year	12,523,000	3,942,000	3,111,000
Supplemental disclosures of cash flow information Cash paid during the period for:
Interest	15,707,000	12,643,000	8,735,000
Income taxes	368,000	341,000	316,000
Environmental remediation obligations	17,633,000	19,123,000	13,448,000
Non-cash transactions
Issuance of notes and mortgages receivable related to property dispositions	$ 1,814,000	17,876,000	8,278,000
Mortgage payable, net related to property acquisition			$ 390,000
Accrued construction in progress		$ 268,000

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 1. — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The consolidated financial statements include the accounts of Getty Realty Corp. and its wholly-owned subsidiaries. The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). We do not distinguish our principal business or our operations on a geographical basis for purposes of measuring performance. We manage and evaluate our operations as a single segment. All significant intercompany accounts and transactions have been eliminated.

Use of Estimates, Judgments and Assumptions

The consolidated financial statements have been prepared in conformity with GAAP, which requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and revenues and expenses during the period reported. Estimates, judgments and assumptions underlying the accompanying consolidated financial statements include, but are not limited to, real estate, receivables, deferred rent receivable, direct financing leases, depreciation and amortization, impairment of long-lived assets, environmental remediation costs, environmental remediation obligations, litigation, accrued liabilities, income taxes and the allocation of the purchase price of properties acquired to the assets acquired and liabilities assumed. Application of these estimates and assumptions requires exercise of judgment as to future uncertainties and, as a result, actual results could differ materially from these estimates.

Reclassifications

Beginning in 2016 Tenant reimbursements, which were previously included in Revenue from rental properties, were excluded from Revenue from rental properties. Certain other amounts in prior years’ financial statements have been reclassified to conform to the presentation used in the year ended December 31, 2016.

Real Estate

Real estate assets are stated at cost less accumulated depreciation and amortization. Upon acquisition of real estate and leasehold interests, we estimate the fair value of acquired tangible assets (consisting of land, buildings and improvements) “as if vacant” and identified intangible assets and liabilities (consisting of leasehold interests, above-market and below-market leases, in-place leases and tenant relationships) and assumed debt. Based on these estimates, we allocate the estimated fair value to the applicable assets and liabilities. Fair value is determined based on an exit price approach, which contemplates the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We expense transaction costs associated with business combinations in the period incurred. See Note 12 for additional information regarding property acquisitions.

We capitalize direct costs, including costs such as construction costs and professional services, and indirect costs associated with the development and construction of real estate assets while substantive activities are ongoing to prepare the assets for their intended use. The capitalization period begins when development activities are underway and ends when it is determined that the asset is substantially complete and ready for its intended use.

When real estate assets are sold or retired, the cost and related accumulated depreciation and amortization is eliminated from the respective accounts and any gain or loss is credited or charged to income. We evaluate real estate sale transactions where we provide seller financing to determine sale and gain recognition in accordance with GAAP. Expenditures for maintenance and repairs are charged to income when incurred.

Depreciation and Amortization

Depreciation of real estate is computed on the straight-line method based upon the estimated useful lives of the assets, which generally range from 16 to 25 years for buildings and improvements, or the term of the lease if shorter. Asset retirement costs are depreciated over the shorter of the remaining useful lives of USTs or ten years for asset retirement costs related to environmental remediation obligations, which costs are attributable to the group of assets identified at a property. Leasehold interests and in-place leases are amortized over the remaining term of the underlying lease.

Direct Financing Leases

Income under direct financing leases is included in revenues from rental properties and is recognized over the lease terms using the effective interest rate method which produces a constant periodic rate of return on the net investments in the leased properties. The investments in direct financing leases are increased for interest income earned and amortized over the life of the leases and reduced by the receipt of lease payments. We consider direct financing leases to be past-due or delinquent when a contractually required payment is not remitted in accordance with the provisions of the underlying agreement. We evaluate each account individually and set up an allowance when, based upon current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms, and the amount can be reasonably estimated.

We review our direct financing leases at least annually to determine whether there has been an-other-than-temporary decline in the current estimate of residual value of the property. The residual value is our estimate of what we could realize upon the sale of the property at the end of the lease term, based on market information and third-party estimates where available. If this review indicates that a decline in residual value has occurred that is other-than-temporary, we recognize an impairment charge. There were no impairments of any of our direct financing leases during the years ended December 31, 2016 and 2015.

When we enter into a contract to sell properties that are recorded as direct financing leases, we evaluate whether we believe it is probable that the disposition will occur. If we determine that the disposition is probable and therefore the property’s holding period is reduced, we record an allowance for credit losses to reflect the change in the estimate of the undiscounted future rents. Accordingly, the net investment balance is written down to fair value.

Notes and Mortgages Receivable

Notes and mortgages receivable consists of loans originated by us in conjunction with property dispositions and funding provided to tenants in conjunction with property acquisitions. Notes and mortgages receivable are recorded at stated principal amounts. We evaluate the collectability of both interest and principal on each loan to determine whether it is impaired. A loan is considered to be impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due under the existing contractual terms. When a loan is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the fair value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the underlying collateral, if the loan is collateralized. Interest income on performing loans is accrued as earned. Interest income on impaired loans is recognized on a cash basis. We do not provide for an additional allowance for loan losses based on the grouping of loans as we believe the characteristics of the loans are not sufficiently similar to allow an evaluation of these loans as a group for a possible loan loss allowance. As such, all of our loans are evaluated individually for impairment purposes. There were no impairments related to our notes and mortgages receivable during the years ended December 31, 2016 and 2015.

Cash and Cash Equivalents

We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Our cash and cash equivalents are held in the custody of financial institutions, and these balances, at times, exceed federally insurable limits.

Restricted Cash

Restricted cash consists of cash that is contractually restricted or held in escrow pursuant to various agreements with counterparties. At December 31, 2016, restricted cash of $671,000 consisted of security deposits received from our tenants. At December 31, 2015, restricted cash of $409,000 consisted of an escrow account established to guarantee our environmental remediation obligations at several of our properties.

Revenue Recognition and Deferred Rent Receivable

Minimum lease payments from operating leases are recognized on a straight-line basis over the term of the leases. The cumulative difference between lease revenue recognized under this method and the contractual lease payment terms is recorded as deferred rent receivable on our consolidated balance sheets. We reserve for a portion of the recorded deferred rent receivable if circumstances indicate that it is not reasonable to assume that the tenant will make all of its contractual lease payments when due during the current term of the lease. We make estimates of the collectability of our accounts receivable related to revenue from rental properties. We analyze accounts receivable and historical bad debt levels, customer creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. Additionally, with respect to tenants in bankruptcy, we estimate the expected recovery through bankruptcy claims and increase the allowance for amounts deemed uncollectible. If our assumptions regarding the collectability of accounts receivable prove incorrect, we could experience write-offs of the accounts receivable or deferred rent receivable in excess of our allowance for doubtful accounts.

The present value of the difference between the fair market rent and the contractual rent for above-market and below-market leases at the time properties are acquired is amortized into revenues from rental properties over the remaining terms of the in-place leases. Lease termination fees are recognized as other income when earned upon the termination of a tenant’s lease and relinquishment of space in which we have no further obligation to the tenant.

Impairment of Long-Lived Assets

Assets are written down to fair value when events and circumstances indicate that the assets might be impaired and the projected undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. Assets held for disposal are written down to fair value less estimated disposition costs.

We recorded impairment charges aggregating $12,814,000, $17,361,000 and $21,534,000 for the years ended December 31, 2016, 2015 and 2014, respectively, in continuing and discontinued operations. Our estimated fair values, as they relate to property carrying values were primarily based upon (i) estimated sales prices from third-party offers based on signed contracts, letters of intent or indicative bids, for which we do not have access to the unobservable inputs used to determine these estimated fair values, and/or consideration of the amount that currently would be required to replace the asset, as adjusted for obsolescence (this method was used to determine $3,041,000 of the $12,814,000 in impairments recognized during the year ended December 31, 2016) and (ii) discounted cash flow models (this method was used to determine $1,660,000 of the $12,814,000 in impairments recognized during the year ended December 31, 2016). During the year ended December 31, 2016, we recorded $8,113,000 of the $12,814,000 in impairments recognized due to the accumulation of asset retirement costs as a result of changes in estimates associated with our estimated environmental liabilities which increased the carrying value of certain properties in excess of their fair value.

The impairment charges recorded during the years ended December 31, 2016 and 2015, were attributable to the effect of adding asset retirement costs due to changes in estimates associated with our environmental liabilities, which increased the carrying value of certain properties in excess of their fair value, reductions in estimated undiscounted cash flows expected to be received during the assumed holding period for certain of our properties and reductions in estimated sales prices from third-party offers based on signed contracts, letters of intent or indicative bids for certain of our properties.

The estimated fair value of real estate is based on the price that would be received from the sale of the property in an orderly transaction between market participants at the measurement date. In general, we consider multiple internal valuation techniques when measuring the fair value of a property, all of which are based on unobservable inputs and assumptions that are classified within Level 3 of the Fair Value Hierarchy. These unobservable inputs include assumed holding periods ranging up to 15 years, assumed average rent increases of 2.0% annually, income capitalized at a rate of 8.0% and cash flows discounted at a rate of 7.0%. These assessments have a direct impact on our net income because recording an impairment loss results in an immediate negative adjustment to net income. The evaluation of anticipated cash flows is highly subjective and is based in part on assumptions regarding future rental rates and operating expenses that could differ materially from actual results in future periods. Where properties held for use have been identified as having a potential for sale, additional judgments are required related to the determination as to the appropriate period over which the projected undiscounted cash flows should include the operating cash flows and the amount included as the estimated residual value. This requires significant judgment. In some cases, the results of whether impairment is indicated are sensitive to changes in assumptions input into the estimates, including the holding period until expected sale.

Deferred Gain

On August 3, 2015, we terminated our unitary triple-net lease (the “Ramoco Lease”) with Hanuman Business, Inc. (d/b/a “Ramoco”), and sold to Ramoco affiliates 48 of the 61 properties that had been subject to the Ramoco Lease. The total consideration for the 48 properties we sold to Ramoco affiliates, including a seller financing mortgage of $13,900,000, was $15,000,000. In accordance with ASC 360-20, Property, Plant and Equipment—Real Estate Sales, we evaluated the accounting for the gain on sales of these assets, noting that the buyer’s initial investment did not represent the amount required for recognition of the gain by the full accrual method. Accordingly, we recorded a deferred gain of $3,900,000 related to the Ramoco sale. The deferred gain was recorded in accounts payable and accrued liabilities on our balance sheet at December 31, 2015. On April 28, 2016, Ramoco affiliates repaid the entire seller financing mortgage and, as a result, the deferred gain was recognized in our consolidated statements of operations for the year ended December 31, 2016.

Fair Value Hierarchy

The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates of fair value that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the consolidated financial statements and revenues and expenses during the period reported using a hierarchy (the “Fair Value Hierarchy”) that prioritizes the inputs to valuation techniques used to measure the fair value. The Fair Value Hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The levels of the Fair Value Hierarchy are as follows: “Level 1” – inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date; “Level 2” – inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active; and “Level 3” – inputs that are unobservable. Certain types of assets and liabilities are recorded at fair value either on a recurring or non-recurring basis. Assets required or elected to be marked-to-market and reported at fair value every reporting period are valued on a recurring basis. Other assets not required to be recorded at fair value every period may be recorded at fair value if a specific provision or other impairment is recorded within the period to mark the carrying value of the asset to market as of the reporting date. Such assets are valued on a non-recurring basis.

We have mutual fund assets that are measured at fair value on a recurring basis using Level 1 inputs. We have a Supplemental Retirement Plan for executives. The amounts held in trust under the Supplemental Retirement Plan using Level 2 inputs may be used to satisfy claims of general creditors in the event of our or any of our subsidiaries’ bankruptcy. We have liability to the executives participating in the Supplemental Retirement Plan for the participant account balances equal to the aggregate of the amount invested at the executives’ direction and the income earned in such mutual funds.

We have certain real estate assets that are measured at fair value on a non-recurring basis using Level 3 inputs as of December 31, 2016 and 2015, of $780,000 and $1,264,000, respectively, where impairment charges have been recorded. Due to the subjectivity inherent in the internal valuation techniques used in estimating fair value, the amounts realized from the sale of such assets may vary significantly from these estimates.

The following summarizes as of December 31, 2016, our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	565	$	—	$	—	$	565
Liabilities:
Deferred compensation	$	—	$	565	$	—	$	565

The following summarizes as of December 31, 2015, our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	888	$	—	$	—	$	888
Liabilities:
Deferred compensation	$	—	$	888	$	—	$	888

Fair Value Disclosure of Financial Instruments

All of our financial instruments are reflected in the accompanying consolidated balance sheets at amounts which, in our estimation based upon an interpretation of available market information and valuation methodologies, reasonably approximate their fair values, except those separately disclosed in the notes to our consolidated financial statements.

Environmental Remediation Obligations

We record the fair value of a liability for an environmental remediation obligation as an asset and liability when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. Environmental remediation obligations are estimated based on the level and impact of contamination at each property. The accrued liability is the aggregate of the best estimate of the fair value of cost for each component of the liability. The accrued liability is net of recoveries of environmental costs from state UST remediation funds with respect to both past and future environmental spending based on estimated recovery rates developed from prior experience with the funds. Net environmental liabilities are currently measured based on their expected future cash flows which have been adjusted for inflation and discounted to present value. We accrue for environmental liabilities that we believe are allocable to other potentially responsible parties if it becomes probable that the other parties will not pay their environmental remediation obligations.

Litigation

Legal fees related to litigation are expensed as legal services are performed. We provide for litigation accruals, including certain litigation related to environmental matters, when it is probable that a liability has been incurred and a reasonable estimate of the liability can be made. If the estimate of the liability can only be identified as a range, and no amount within the range is a better estimate than any other amount, the minimum of the range is accrued for the liability. We accrue our share of environmental litigation liabilities based on our assumptions of the ultimate allocation method and share that will be used when determining our share of responsibility.

Income Taxes

We and our subsidiaries file a consolidated federal income tax return. Effective January 1, 2001, we elected to qualify, and believe we are operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, we generally will not be subject to federal income tax on qualifying REIT income, provided that distributions to our shareholders equal at least the amount of our taxable income as defined under the Internal Revenue Code. We accrue for uncertain tax matters when appropriate. The accrual for uncertain tax positions is adjusted as circumstances change and as the uncertainties become more clearly defined, such as when audits are settled or exposures expire. Tax returns for the years 2013, 2014 and 2015, and tax returns which will be filed for the year ended 2016, remain open to examination by federal and state tax jurisdictions under the respective statute of limitations.

New Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. ASU 2014-09 was effective for the first interim period within annual reporting periods beginning after December 15, 2016, and early adoption was not permitted. On July 9, 2015, the FASB decided to delay the effective date of ASU 2014-09 by one year making it effective for the first interim period within annual reporting periods beginning after December 15, 2017. Early adoption is permitted as of the original effective date. We are currently evaluating this guidance and do not expect the adoption of ASU 2014-09 will have a material impact on our consolidated financial statements.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. ASU 2014-15 is effective for annual periods ending after December 15, 2016, including interim reporting periods thereafter. We adopted this guidance in 2016 and there was no impact to our consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. Lessor accounting will remain similar to lessor accounting under previous GAAP, while aligning with the FASB’s new revenue recognition guidance. ASU 2016-02 is effective for the Company beginning January 1, 2019. Early adoption of ASU 2016-02 is permitted. The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. We are currently evaluating the impact the adoption of ASU 2016-02 will have on our consolidated financial statements.

On March 30, 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which amends the current stock compensation guidance. The amendments simplify the accounting for taxes related to stock based compensation, including adjustments as to how excess tax benefits and a company’s payments for tax withholdings should be classified. The standard is effective for fiscal periods beginning after December 15, 2016, with early adoption permitted. The adoption of ASU 2016-09 will not have an impact on our consolidated financial statements.

On May 9, 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”), which clarifies and provides practical expedients for certain aspects of ASU 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities may elect to adopt the amendments as of the original effective date; however, adoption is required for annual reporting periods beginning after December 15, 2017. We are currently evaluating the impact the adoption of ASU 2016-12 will have on our consolidated financial statements.

On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurements of Credit Losses on Financial Instruments (“ASU 2016-13”) to amend the accounting for credit losses for certain financial instruments. Under the new guidance, an entity recognizes its estimate of expected credit losses as an allowance, which the FASB believes will result in more timely recognition of such losses. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the impact the adoption of ASU 2016-13 will have on our consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 is intended to clarify the presentation of cash receipts and payments in specific situations. The amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods, and early adoption is permitted. We are currently evaluating the impact the adoption of ASU 2016-15 will have on our consolidated financial statements.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”). ASU 2016-18 requires that amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the total beginning and ending amounts for the periods shown on the statement of cash flows. ASU 2016-18 will be effective beginning January 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We early adopted ASU 2016-18 on January 1, 2017. Upon adoption, we will include amounts generally described as restricted cash within the beginning-of-period, change and end-of-period total amounts on the statement of cash flows rather than within an activity on the statement of cash flows.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. We early adopted ASU 2017-01 on January 1, 2017. The adoption of this standard will result in less real estate acquisitions qualifying as businesses and, accordingly, acquisition costs for those acquisitions that are not businesses will be capitalized rather than expensed.

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Leases

12 Months Ended

Dec. 31, 2016

Leases [Abstract]

Leases

NOTE 2. — LEASES

As of December 31, 2016, we owned 740 properties and leased 89 properties from third-party landlords. Our 829 properties are located in 23 states across the United States and Washington, D.C. Substantially all of our properties are leased on a triple-net basis primarily to petroleum distributors, convenience store retailers and, to a lesser extent, to individual operators. Generally, our tenants supply fuel and either operate our properties directly or sublet our properties to operators who operate their convenience stores, gasoline stations, automotive repair service facilities or other businesses at our properties. Our triple-net tenants are responsible for the payment of all taxes, maintenance, repairs, insurance and other operating expenses relating to our properties, and are also responsible for environmental contamination occurring during the terms of their leases and in certain cases also for environmental contamination that existed before their leases commenced. See Note 5 for additional information regarding environmental obligations. Substantially all of our tenants’ financial results depend on the sale of refined petroleum products and, to a lesser extent, convenience store sales or rental income from their subtenants. As a result, our tenants’ financial results are highly dependent on the performance of the petroleum marketing industry, which is highly competitive and subject to volatility. During the terms of our leases, we monitor the credit quality of our triple-net tenants by reviewing their published credit rating, if available, reviewing publicly available financial statements, or reviewing financial or other operating statements which are delivered to us pursuant to applicable lease agreements, monitoring news reports regarding our tenants and their respective businesses, and monitoring the timeliness of lease payments and the performance of other financial covenants under their leases.

Revenues from rental properties included in continuing operations for the years ended December 31, 2016, 2015 and 2014 were $97,939,000, $92,889,000 and $82,971,000, respectively. Rental income contractually due or received from our tenants in revenues from rental properties included in continuing operations was $94,522,000, $88,358,000 and $77,720,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

In accordance with GAAP, we recognize rental revenue in amounts which vary from the amount of rent contractually due or received during the periods presented. As a result, revenues from rental properties include non-cash adjustments recorded for deferred rental revenue due to the recognition of rental income on a straight-line basis over the current lease term, the net amortization of above-market and below-market leases, rental income recorded under direct financing leases using the effective interest method which produces a constant periodic rate of return on the net investments in the leased properties and the amortization of deferred lease incentives (the “Revenue Recognition Adjustments”). Revenue Recognition Adjustments included in revenues from rental properties in continuing operations were $3,417,000, $4,531,000 and $5,251,000 for the years ended December 2016, 2015 and 2014, respectively. We provide reserves for a portion of the recorded deferred rent receivable if circumstances indicate that a tenant will not make all of its contractual lease payments during the current lease term. Our assessments and assumptions regarding the recoverability of the deferred rent receivable are reviewed on an ongoing basis and such assessments and assumptions are subject to change. There were no deferred rent receivable reserves at December 31, 2016 and 2015, respectively.

Tenant reimbursements, which consist of real estate taxes and other municipal charges paid by us which were reimbursable by our tenants pursuant to the terms of triple-net lease agreements, included in continuing operations were $13,784,000, $14,146,000 and $13,777,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

We incurred $148,000, $120,000 and $60,000 of lease origination costs for the years ended December 31, 2016, 2015 and 2014, respectively. This deferred expense is recognized on a straight-line basis as amortization expense in our consolidated statements of operations over the terms of the various leases.

The components of the $92,097,000 investment in direct financing leases as of December 31, 2016, are minimum lease payments receivable of $167,064,000 plus unguaranteed estimated residual value of $13,979,000 less unearned income of $88,946,000. The components of the $94,098,000 investment in direct financing leases as of December 31, 2015, are minimum lease payments receivable of $179,372,000 plus unguaranteed estimated residual value of $13,979,000 less unearned income of $99,253,000.

Future contractual minimum annual rentals receivable from our tenants, which have terms in excess of one year as of December 31, 2016, are as follows (in thousands):

YEAR ENDING DECEMBER 31,	OPERATING LEASES		DIRECT FINANCING LEASES		TOTAL
2017	$	81,784	$	12,622	$	94,406
2018		81,508		12,872		94,380
2019		81,346		13,079		94,425
2020		76,936		13,375		90,311
2021		71,523		13,552		85,075
Thereafter	$	569,111	$	101,564	$	670,675

We have obligations to lessors under non-cancelable operating leases which have terms in excess of one year, principally for convenience stores and gasoline stations. The leased properties have a remaining lease term averaging approximately 11 years, including renewal options. Future minimum annual rentals payable under such leases, excluding renewal options, are as follows: 2017 — $6,246,000, 2018 — $5,548,000, 2019 — $4,620,000, 2020 — $3,494,000, 2021 — $2,573,000 and $3,277,000 thereafter.

Rent expense, substantially all of which consists of minimum rentals on non-cancelable operating leases, amounted to $5,376,000, $5,918,000 and $6,088,000 for the years ended December 31, 2016, 2015 and 2014, respectively, and is included in property costs using the straight-line method. Rent received under subleases for the years ended December 31, 2016, 2015 and 2014 was $9,153,000, $9,653,000 and $10,358,000, respectively.

Major Tenants

As of December 31, 2016, we had three significant tenants by revenue:

• We leased 166 convenience store and gasoline station properties in three separate unitary leases and three stand-alone leases to subsidiaries of Global Partners LP (NYSE: GLP) (“Global Partners”). Two of these leases were assigned to subsidiaries of Global Partners in June 2015 by our former tenants, White Oak Petroleum, LLC and Big Apple Petroleum Realty, LLC (both affiliates of Capitol Petroleum Group, LLC). In the aggregate, our leases with subsidiaries of Global Partners represented 21% of our total revenues for the years ended December 31, 2016 and 2015. All of our unitary leases with subsidiaries of Global Partners are guaranteed by the parent company.

• We leased 77 convenience store and gasoline station properties pursuant to three separate unitary leases to Apro, LLC (d/b/a “United Oil”). In the aggregate, our leases with United Oil represented 15% and 9% of our total revenues for the years ended December 31, 2016 and 2015, respectively. See Note 12 for additional information regarding the United Oil Transaction. See Item 9B in this Form 10-K for selected combined audited financial data of United Oil.

• We leased 79 convenience store and gasoline station properties pursuant to three separate unitary leases to subsidiaries of Chestnut Petroleum Dist., Inc. (“Chestnut Petroleum”). In the aggregate, our leases with subsidiaries of Chestnut Petroleum represented 15% and 16% of our total revenues for the years ended December 31, 2016 and 2015, respectively. The largest of these unitary leases, covering 57 of our properties, is guaranteed by the parent company, its principals and numerous Chestnut Petroleum affiliates.

Marketing and the Master Lease

As of December 31, 2016, 391 of the properties we own or lease, were previously leased to Getty Petroleum Marketing Inc. (“Marketing”) pursuant to a master lease (the “Master Lease”). In December 2011, Marketing filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court. The Master Lease was terminated effective April 30, 2012, and in July 2012, the Bankruptcy Court approved Marketing’s Plan of Liquidation and appointed a trustee (the “Liquidating Trustee”) to oversee liquidation of the Marketing estate (the “Marketing Estate”).

As part of Marketing’s bankruptcy proceeding, we maintained significant pre-petition and post-petition unsecured claims against Marketing. On March 3, 2015, we entered into a settlement agreement with the Liquidating Trustee of the Marketing Estate to resolve claims asserted by us in Marketing’s bankruptcy case (the “Settlement Agreement”). The Settlement Agreement was approved by an order of the U.S. Bankruptcy Court, and, on April 22, 2015, we received a distribution from the Marketing Estate of $6,800,000 on account of our general unsecured claims. The Settlement Agreement also resolved a dispute relating to the balance of payment due to us pursuant to our agreement to fund a lawsuit that was brought by the Liquidating Trustee against Lukoil Americas Corporation and related entities and individuals for the benefit of Marketing’s creditors. As a result, on April 22, 2015, we also received an additional distribution of $550,000 from the Marketing Estate in full resolution of the Litigation Funding Agreement dispute.

On October 19, 2015, the U.S. Bankruptcy Court entered a final decree closing the bankruptcy case of the Marketing Estate. As a result, on November 3, 2015, we received a final distribution from the Marketing Estate of $10,800,000 on account of our general unsecured claims. The $18,177,000 received from the Marketing Estate for the year ended December 31, 2015, is included in other income on our consolidated statements of operations. We do not expect to receive any further distributions from the Marketing Estate.

As of December 31, 2016, we have entered into long-term triple-net leases with petroleum distributors for 15 separate property portfolios comprising 350 properties in the aggregate and 24 properties leased as single unit triple-net leases, that were previously leased to Marketing. The long-term triple-net leases with petroleum distributors are unitary triple-net lease agreements generally with an initial term of 15 to 20 years and options for successive renewal terms of up to 20 years. Rent is scheduled to increase at varying intervals during both the initial and renewal terms of our leases. Several of the leases provide for additional rent based on the aggregate volume of fuel sold. In addition, the majority of the leases require the tenants to make capital expenditures at our properties, substantially all of which are related to the replacement of USTs that are owned by our tenants. As of December 31, 2016, we have a remaining commitment to fund up to $10,231,000 in the aggregate with our tenants for our portion of such capital expenditures. Our commitment provides us with the option to either reimburse our tenants, or to offset rent when these capital expenditures are made. This deferred expense is recognized on a straight-line basis as a reduction of rental revenue in our consolidated statements of operations over the terms of the various leases.

As part of the triple-net leases for properties previously leased to Marketing, we transferred title of the USTs to our tenants, and the obligation to pay for the retirement and decommissioning or removal of USTs at the end of their useful lives or earlier if circumstances warranted was fully or partially transferred to our new tenants. We remain contingently liable for this obligation in the event that our tenants do not satisfy their responsibilities. Accordingly, through December 31, 2016, we removed $13,769,000 of asset retirement obligations and $10,808,000 of net asset retirement costs related to USTs from our balance sheet. The cumulative net amount of $2,961,000 is recorded as deferred rental revenue and will be recognized on a straight-line basis as additional revenues from rental properties over the terms of the various leases.

NECG Lease Restructuring

On May 1, 2012, we entered into a lease with NECG Holdings Corp (“NECG”) covering 84 properties formerly leased to Marketing in Connecticut, Massachusetts and Rhode Island (the “NECG Lease”). Eviction proceedings against a holdover group of former subtenants who continued to occupy properties subject to the NECG Lease had a material adverse impact on NECG’s operations and profitability. On January 27, 2015, the Connecticut Supreme Court, in a written opinion, affirmed the Superior Court rulings in favor of NECG and us. As a result, we or NECG regained possession of all of the locations that were still subject to appeal.

We had previously entered into a lease modification agreement with NECG which deferred a portion of NECG’s rent due to us and allowed us to remove properties from the NECG Lease. As a result, as of December 31, 2016, there were three properties remaining in the NECG Lease. On January 6, 2017, the three remaining properties subject to the NECG Lease were re-leased to an existing tenant and the NECG Lease was terminated.

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Commitments and Contingencies

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 3. — COMMITMENTS AND CONTINGENCIES

Credit Risk

In order to minimize our exposure to credit risk associated with financial instruments, we place our temporary cash investments, if any, with high credit quality institutions. Temporary cash investments, if any, are currently held in an overnight bank time deposit with JPMorgan Chase Bank, N.A. and these balances, at times, exceed federally insurable limits.

Legal Proceedings

We are subject to various legal proceedings and claims which arise in the ordinary course of our business. As of December 31, 2016 and 2015, we had accrued $11,768,000 and $11,265,000, respectively, for certain of these matters which we believe were appropriate based on information then currently available. We have recorded provisions for litigation losses aggregating $801,000 and $374,000 for certain of these matters during the years ended December 31, 2016 and 2015, respectively. We are unable to estimate ranges in excess of the amount accrued with any certainty for these matters. It is possible that our assumptions regarding the ultimate allocation method and share of responsibility that we used to allocate environmental liabilities may change, which may result in our providing an accrual, or adjustments to the amounts recorded, for environmental litigation accruals. Matters related to our former Newark, New Jersey Terminal and the Lower Passaic River and MTBE litigations in the states of New Jersey and Pennsylvania, in particular, could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Matters related to our former Newark, New Jersey Terminal and the Lower Passaic River

In September 2003, we received a directive (the “Directive”) issued by the New Jersey Department of Environmental Protection (“NJDEP”) under the New Jersey Spill Compensation and Control Act. The Directive indicated that we are one of approximately 66 potentially responsible parties for alleged natural resource damages resulting from the discharges of hazardous substances along the lower Passaic River (the “Lower Passaic River”). The Directive provides, among other things, that the named recipients must conduct an assessment of the natural resources that have been injured by discharges into the Lower Passaic River and must implement interim compensatory restoration for the injured natural resources. The NJDEP alleges that our liability arises from alleged discharges originating from our former Newark, New Jersey Terminal site (which was sold in October 2013). We responded to the Directive by asserting that we are not liable. There has been no material activity and/or communications by the NJDEP with respect to the Directive since early after its issuance.

In May 2007, the United States Environmental Protection Agency (“EPA”) entered into an Administrative Settlement Agreement and Order on Consent (“AOC”) with over 70 parties to perform a Remedial Investigation and Feasibility Study (“RI/FS”) for a 17-mile stretch of the Lower Passaic River in New Jersey. The RI/FS is intended to address the investigation and evaluation of alternative remedial actions with respect to alleged damages to the Lower Passaic River. Most of the parties to the AOC, including us, are also members of a Cooperating Parties Group (“CPG”). The CPG agreed to an interim allocation formula for purposes of allocating the costs to complete the RI/FS among its members, with the understanding that this agreed-upon allocation formula is not binding on the parties in terms of any potential liability for the costs to remediate the Lower Passaic River. The CPG submitted to the EPA its draft RI/FS in 2015. The draft RI/FS set forth various alternatives for remediating the entire 17-mile stretch of the Lower Passaic River, and provides that cost estimate for the preferred remedial action presented therein is in the range of approximately $483,000,000 to $725,000,000. The EPA is still evaluating the draft RI/FS report submitted by the CPG.

In addition to the RI/FS activities, other actions relating to the investigation and/or remediation of the Lower Passaic River have proceeded as follows. First, in June 2012, certain members of the CPG entered into an Administrative Settlement Agreement and Order on Consent (“10.9 AOC”) effective June 18, 2012, to perform certain remediation activities, including removal and capping of sediments at the river mile 10.9 area and certain testing. The EPA also issued a Unilateral Order to Occidental Chemical Corporation (“Occidental”) directing Occidental to participate and contribute to the cost of the river mile 10.9 work. Concurrent with the CPG’s work on the RI/FS, on April 11, 2014, the EPA issued a draft Focused Feasibility Study (“FFS”) with proposed remedial alternatives to remediate the lower 8-miles of the 17-mile stretch of the Lower Passaic River. The FFS was subject to public comments and objections, and on March 4, 2016, the EPA issued its Record of Decision (“ROD”) for the lower 8-miles selecting a remedy that would involve bank-to-bank dredging and installing an engineered cap with an estimated cost of $1,380,000,000. On March 31, 2016, we and more than 100 other potentially responsible parties received from the EPA a “Notice of Potential Liability and Commencement of Negotiations for Remedial Design” (“Notice”), which informed the recipients that the EPA intends to seek an Administrative Order on Consent and Settlement Agreement with Occidental for remedial design of the remedy selected in the ROD, after which the EPA plans to begin negotiations with “major” potentially responsible parties for implementation and/or payment of the selected remedy. The Notice also stated that the EPA believes that some of the potentially responsible parties and other parties not yet identified as potentially responsible parties will be eligible for a cash out settlement with the EPA. On October 5, 2016, the EPA announced that it had entered into a settlement agreement with Occidental which requires that Occidental perform the remedial design (which is expected to take four (4) years to complete) for the remedy selected for the lower 8-miles of the Lower Passaic River.

Many uncertainties remain regarding how the EPA intends to implement the ROD. We anticipate that performance of the EPA’s selected remedy will be subject to future negotiations, potential enforcement proceedings and/or possible litigation. The RI/FS, AOC, 10.9 AOC and Notice do not obligate us to fund or perform remedial action contemplated by either the ROD or RI/FS and do not resolve liability issues for remedial work or the restoration of or compensation for alleged natural resource damages to the Lower Passaic River, which are not known at this time. Our ultimate liability, if any, in the pending and possible future proceedings pertaining to the Lower Passaic River is uncertain and subject to numerous contingencies which cannot be predicted and the outcome of which are not yet known.

MTBE Litigation – State of New Jersey

We are defending against a lawsuit brought by various governmental agencies of the State of New Jersey, including the NJDEP alleging various theories of liability due to contamination of groundwater with methyl tertiary butyl ether (a fuel derived from methanol, commonly referred to as “MTBE”) involving multiple locations throughout the State of New Jersey (the “New Jersey MDL Proceedings”). The complaint names as defendants approximately 50 petroleum refiners, manufacturers, distributors and retailers of MTBE or gasoline containing MTBE. The State of New Jersey is seeking reimbursement of significant clean-up and remediation costs arising out of the alleged release of MTBE containing gasoline in the State of New Jersey and is asserting various natural resource damage claims as well as liability against the owners and operators of gasoline station properties from which the releases occurred. Several of the named defendants have already settled the case against them. These cases have been transferred to the United States District Court for the District of New Jersey for pre-trial proceedings and trial, although a trial date has not yet been set. We continue to engage in settlement negotiations and a dialogue with the plaintiff’s counsel to educate them on the unique role of the Company and our business as compared to other defendants in the litigation, and with respect to certain facts applicable to our activities and gasoline stations, and affirmative defenses available to us, which we believe have not been sufficiently developed in the proceedings. In addition, we are pursuing claims for reimbursement of monies expended in the defense and settlement of certain MTBE cases under pollution insurance policies previously obtained by us and Marketing and under which we believe we are entitled to coverage, however, we have not yet confirmed whether and to what extent such coverage may actually be available. Although the ultimate outcome of the New Jersey MDL Proceedings cannot be ascertained at this time, we believe it is probable that this litigation will be resolved in a manner that is unfavorable to us. We are unable to estimate the range of loss in excess of the amount accrued with certainty for the New Jersey MDL Proceedings as we do not believe that plaintiffs’ settlement proposal is realistic and there remains uncertainty as to the allegations in this case as they relate to us, our defenses to the claims, our rights to indemnification or contribution from other parties and the aggregate possible amount of damages for which we may be held liable. It is possible that losses related to the New Jersey MDL Proceedings in excess of the amounts accrued as of December 31, 2016, could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

MTBE Litigation – State of Pennsylvania

On July 7, 2014, our subsidiary, Getty Properties Corp., was served with a complaint filed by the Commonwealth of Pennsylvania (the “State”) in the Court of Common Pleas, Philadelphia County relating to alleged statewide MTBE contamination in Pennsylvania (the “Complaint”). The Complaint names us and more than 50 other defendants, including Exxon Mobil, various BP entities, Chevron, Citgo, Gulf, Lukoil Americas, Getty Petroleum Marketing Inc., Marathon, Hess, Shell Oil, Texaco, Valero, as well as other smaller petroleum refiners, manufacturers, distributors and retailers of MTBE or gasoline containing MTBE. The Complaint seeks compensation for natural resource damages and for injuries sustained as a result of “defendants’ unfair and deceptive trade practices and acts in the marketing of MTBE and gasoline containing MTBE.” The plaintiffs also seek to recover costs paid or incurred by the State to detect, treat and remediate MTBE from public and private water wells and groundwater. The plaintiffs assert causes of action against all defendants based on multiple theories, including strict liability – defective design; strict liability – failure to warn; public nuisance; negligence; trespass; and violation of consumer protection law.

The case was filed in the Court of Common Pleas, Philadelphia County, but was removed by defendants to the United States District Court for the Eastern District of Pennsylvania and then transferred to the United States District Court for the Southern District of New York so that it may be managed as part of the ongoing MTBE MDL. Plaintiffs have recently filed a Second Amended Complaint naming additional defendants and adding factual allegations intended to bolster their claims against the defendants. We have joined with other defendants in the filing of a motion to dismiss the claims against us. This motion is pending with the Court. We intend to defend vigorously the claims made against us. Our ultimate liability, if any, in this proceeding is uncertain and subject to numerous contingencies which cannot be predicted and the outcome of which are not yet known.

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Credit Agreement and Senior Unsecured Notes

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Credit Agreement and Senior Unsecured Notes

NOTE 4. — CREDIT AGREEMENT AND SENIOR UNSECURED NOTES

Credit Agreement

On June 2, 2015, we entered into a $225,000,000 senior unsecured credit agreement (the “Credit Agreement”) with a group of banks led by Bank of America, N.A. (the “Bank Syndicate”). The Credit Agreement consists of a $175,000,000 revolving facility (the “Revolving Facility”), which is scheduled to mature in June 2018 and a $50,000,000 term loan (the “Term Loan”), which is scheduled to mature in June 2020. Subject to the terms of the Credit Agreement and our continued compliance with its provisions, we have the option to (a) extend the term of the Revolving Facility for one additional year to June 2019 and (b) increase by $75,000,000 the amount of the Revolving Facility to $250,000,000.

The Credit Agreement incurs interest and fees at various rates based on our net debt to EBITDA ratio (as defined in the Credit Agreement) at the end of each quarterly reporting period. The Revolving Facility permits borrowings at an interest rate equal to the sum of a base rate plus a margin of 0.95% to 2.25% or a LIBOR rate plus a margin of 1.95% to 3.25%. The annual commitment fee on the undrawn funds under the Revolving Facility is 0.25% to 0.30%. The Term Loan bears interest at a rate equal to the sum of a base rate plus a margin of 0.90% to 2.20% or a LIBOR rate plus a margin of 1.90% to 3.20%. The Credit Agreement does not provide for scheduled reductions in the principal balance prior to its maturity. As of December 31, 2016 and 2015, borrowings under the Revolving Facility were $75,000,000 and $94,000,000, respectively, and borrowings under the Term Loan were $50,000,000. The interest rate on Credit Agreement borrowings at December 31, 2016, was approximately 3.10% per annum.

In April 2015, the FASB issued guidance ASU 2015-03, which amends Topic 835, Other Presentation Matters. The amendments in ASU 2015-03 require that debt issuance costs be reported on the balance sheet as a direct reduction of the face amount of the debt instrument they relate to, and should not be classified as a deferred charge, as was previously required under the Accounting Standards Codification. We adopted ASU 2015-03 retrospectively as of January 1, 2016. As of December 31, 2016 and 2015, we had $1,199,000 and $1,900,000, respectively, of debt issuance costs included within borrowings under credit agreement.

The Credit Agreement contains customary financial covenants such as availability, leverage and coverage ratios and minimum tangible net worth, as well as limitations on restricted payments, which may limit our ability to incur additional debt or pay dividends. The Credit Agreement contains customary events of default, including cross default provisions under the Restated Prudential Note Purchase Agreement (as defined below), change of control and failure to maintain REIT status. Any event of default, if not cured or waived in a timely manner, would increase by 200 basis points (2.00%) the interest rate we pay under the Credit Agreement and prohibit us from drawing funds against the Credit Agreement and could result in the acceleration of our indebtedness under the Credit Agreement and could also give rise to an event of default and could result in the acceleration of our indebtedness under the Restated Prudential Note Purchase Agreement. We may be prohibited from drawing funds against the Revolving Facility if there is a material adverse effect on our business, assets, prospects or condition.

Senior Unsecured Notes

On June 2, 2015, we entered into an amended and restated note purchase agreement (the “Restated Prudential Note Purchase Agreement”) amending and restating our existing senior secured note purchase agreement with The Prudential Insurance Company of America (“Prudential”) and an affiliate of Prudential. Pursuant to the Restated Prudential Note Purchase Agreement, Prudential and its affiliate released the mortgage liens and other security interests held by Prudential and its affiliate on certain of our properties and assets, redenominated the existing notes in the aggregate amount of $100,000,000 issued under the existing note purchase agreement as senior unsecured Series A Notes, and issued $75,000,000 of senior unsecured Series B Notes bearing interest at 5.35% and maturing in June 2023 to Prudential and certain affiliates of Prudential. The Series A Notes continue to bear interest at 6.0% and mature in February 2021. The Restated Prudential Note Purchase Agreement does not provide for scheduled reductions in the principal balance of either the Series A Notes or the Series B Notes prior to their respective maturities. As of December 31, 2016 and 2015, borrowings under the Restated Prudential Note Purchase Agreement were $175,000,000.

In April 2015, the FASB issued guidance ASU 2015-03, which amends Topic 835, Other Presentation Matters. The amendments in ASU 2015-03 require that debt issuance costs be reported on the balance sheet as a direct reduction of the face amount of the debt instrument they relate to, and should not be classified as a deferred charge, as was previously required under the Accounting Standards Codification. We adopted ASU 2015-03 retrospectively as of January 1, 2016. As of December 31, 2016 and 2015, we had $257,000 and $311,000, respectively, of debt issuance costs included within senior unsecured notes.

The Restated Prudential Note Purchase Agreement contains customary financial covenants such as leverage and coverage ratios and minimum tangible net worth, as well as limitations on restricted payments, which may limit our ability to incur additional debt or pay dividends. The Restated Prudential Note Purchase Agreement contains customary events of default, including default under the Credit Agreement and failure to maintain REIT status. Any event of default, if not cured or waived, would increase by 200 basis points (2.00%) the interest rate we pay under the Restated Prudential Note Purchase Agreement and could result in the acceleration of our indebtedness under the Restated Prudential Note Purchase Agreement and could also give rise to an event of default and could result in the acceleration of our indebtedness under our Credit Agreement.

As of December 31, 2016, we are in compliance with all of the material terms of the Credit Agreement and Restated Prudential Note Purchase Agreement, including the various financial covenants described above.

As of December 31, 2016, the maturity dates and amounts outstanding under the Credit Agreement and the Restated Prudential Note Purchase Agreement are as follows:

	Maturity Date		Amount
Credit Agreement—Revolving Facility		June 2018	$	75,000,000
Credit Agreement—Term Loan		June 2020	$	50,000,000
Restated Prudential Note Purchase Agreement—Series A Notes		February 2021	$	100,000,000
Restated Prudential Note Purchase Agreement—Series B Notes		June 2023	$	75,000,000

As of December 31, 2016 and 2015, the carrying value of the borrowings outstanding under the Credit Agreement approximated fair value. As of December 31, 2016, the fair value of the borrowings under the Prudential Series A Notes and Series B Notes were $104,900,000 and $76,100,000, respectively. As of December 31, 2015, the fair value of the borrowings under the Prudential Series A Notes and Series B Notes were $105,800,000 and $76,400,000, respectively.

The fair value of the borrowings outstanding as of December 31, 2016 and 2015, was determined using a discounted cash flow technique that incorporates a market interest yield curve with adjustments for duration, optionality, risk profile and projected average borrowings outstanding or borrowings outstanding, which are based on unobservable inputs within Level 3 of the Fair Value Hierarchy.

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Environmental Obligations

12 Months Ended

Dec. 31, 2016

Environmental Remediation Obligations [Abstract]

Environmental Obligations

NOTE 5. — ENVIRONMENTAL OBLIGATIONS

We are subject to numerous federal, state and local laws and regulations, including matters relating to the protection of the environment such as the remediation of known contamination and the retirement and decommissioning or removal of long-lived assets including buildings containing hazardous materials, USTs and other equipment. Environmental costs are principally attributable to remediation costs which are incurred for, among other things, removing USTs, excavation of contaminated soil and water, installing, operating, maintaining and decommissioning remediation systems, monitoring contamination and governmental agency compliance reporting required in connection with contaminated properties. We seek reimbursement from state UST remediation funds related to these environmental costs where available. In July 2012, we purchased a ten-year pollution legal liability insurance policy covering substantially all of our properties for preexisting unknown environmental liabilities and new environmental events. The policy has a $50,000,000 aggregate limit and is subject to various self-insured retentions and other conditions and limitations. Our intention in purchasing this policy is to obtain protection predominantly for significant events. No assurances can be given that we will obtain a net financial benefit from this investment.

The estimated future costs for known environmental remediation requirements are accrued when it is probable that a liability has been incurred and a reasonable estimate of fair value can be made. The accrued liability is the aggregate of the best estimate of the fair value of cost for each component of the liability net of estimated recoveries from state UST remediation funds considering estimated recovery rates developed from prior experience with the funds.

We enter into leases and various other agreements which contractually allocate responsibility between the parties for known and unknown environmental liabilities at or relating to the subject properties. We are contingently liable for these environmental obligations in the event that our counterparty to the lease or other agreement does not satisfy them. It is possible that our assumptions regarding the ultimate allocation method and share of responsibility that we used to allocate environmental liabilities may change, which may result in material adjustments to the amounts recorded for environmental litigation accruals and environmental remediation liabilities. We are required to accrue for environmental liabilities that we believe are allocable to others under our leases and other agreements if we determine that it is probable that our counterparty will not meet its environmental obligations. We may ultimately be responsible to pay for environmental liabilities as the property owner if our counterparty fails to pay them. We assess whether to accrue for environmental liabilities based upon relevant factors including our tenants’ histories of paying for such obligations, our assessment of their financial ability, and their intent to pay for such obligations. However, there can be no assurance that our assessments are correct or that our tenants who have paid their obligations in the past will continue to do so. The ultimate resolution of these matters could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

For all of our triple-net leases, our tenants are contractually responsible for compliance with environmental laws and regulations, removal of USTs at the end of their lease term (the cost of which in certain cases is partially borne by us) and remediation of any environmental contamination that arises during the term of their tenancy. Under the terms of our leases covering properties previously leased to Marketing (substantially all of which commenced in 2012), we have agreed to be responsible for environmental contamination at the premises that was known at the time the lease commenced, and which existed prior to commencement of the lease and is discovered (other than as a result of a voluntary site investigation) during the first ten years of the lease term (or a shorter period for a minority of such leases). After expiration of such ten-year (or, in certain cases, shorter) period, responsibility for all newly discovered contamination, even if it relates to periods prior to commencement of the lease, is contractually allocated to our tenant. Our tenants at properties previously leased to Marketing are in all cases responsible for the cost of any remediation of contamination that results from their use and occupancy of our properties. Under substantially all of our other triple-net leases, responsibility for remediation of all environmental contamination discovered during the term of the lease (including known and unknown contamination that existed prior to commencement of the lease) is the responsibility of our tenant.

We anticipate that a majority of the USTs at properties previously leased to Marketing will be replaced over the next several years because these USTs are either at or near the end of their useful lives. For long-term, triple-net leases covering sites previously leased to Marketing, our tenants are responsible for the cost of removal and replacement of USTs and for remediation of contamination found during such UST removal and replacement, unless such contamination was found during the first ten years of the lease term and also existed prior to commencement of the lease. In those cases, we are responsible for costs associated with the remediation of such contamination. For properties that are vacant, we are responsible for costs associated with UST removals and for the cost of remediation of contamination found during the removal of USTs. We have also agreed to be responsible for environmental contamination that existed prior to the sale of certain properties assuming the contamination is discovered (other than as a result of a voluntary site investigation) during the first five years after the sale of the properties.

In the course of certain UST removals and replacements at properties previously leased to Marketing where we retained continuing responsibility for preexisting environmental obligations, previously unknown environmental contamination was and continues to be discovered. As a result, we have developed a reasonable estimate of fair value for the prospective future environmental liability resulting from preexisting unknown environmental contamination and accrued for these estimated costs. These estimates are based primarily upon quantifiable trends, which we believe allow us to make reasonable estimates of fair value for the future costs of environmental remediation resulting from the removal and replacement of USTs. Our accrual of the additional liability represents the best estimate of the fair value of cost for each component of the liability, net of estimated recoveries from state UST remediation funds, considering estimated recovery rates developed from prior experience with the funds. In arriving at our accrual, we analyzed the ages of USTs at properties where we would be responsible for preexisting contamination found within ten years after commencement of a lease (for properties subject to long-term triple-net leases) or five years from a sale (for divested properties), and projected a cost to closure for new environmental contamination. Based on these estimates, along with relevant economic and risk factors, at December 31, 2016 and 2015, we have accrued $45,009,000 and $45,443,000, respectively, for these future environmental liabilities related to preexisting unknown contamination. Our estimates are based upon facts that are known to us at this time and an assessment of the possible ultimate remedial action outcomes. It is possible that our assumptions, which form the basis of our estimates, regarding our ultimate environmental liabilities may change, which may result in our providing an accrual, or adjustments to the amounts recorded, for environmental remediation liabilities. Among the many uncertainties that impact the estimates are our assumptions, the necessary regulatory approvals for, and potential modifications of remediation plans, the amount of data available upon initial assessment of contamination, changes in costs associated with environmental remediation services and equipment, the availability of state UST remediation funds and the possibility of existing legal claims giving rise to additional claims. Additional environmental liabilities could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

Environmental exposures are difficult to assess and estimate for numerous reasons, including the extent of contamination, alternative treatment methods that may be applied, location of the property which subjects it to differing local laws and regulations and their interpretations, as well as the time it takes to remediate contamination and receive regulatory approval. In developing our liability for estimated environmental remediation obligations on a property by property basis, we consider among other things, enacted laws and regulations, assessments of contamination and surrounding geology, quality of information available, currently available technologies for treatment, alternative methods of remediation and prior experience. Environmental accruals are based on estimates which are subject to significant change, and are adjusted as the remediation treatment progresses, as circumstances change and as environmental contingencies become more clearly defined and reasonably estimable. We expect to adjust the accrued liabilities for environmental remediation obligations reflected in our consolidated financial statements as they become probable and a reasonable estimate of fair value can be made.

We measure our environmental remediation liability at fair value based on expected future net cash flows, adjusted for inflation (using a range of 2.0% to 2.75%), and then discount them to present value (using a range of 4.0% to 7.0%). We adjust our environmental remediation liability quarterly to reflect changes in projected expenditures, changes in present value due to the passage of time and reductions in estimated liabilities as a result of actual expenditures incurred during each quarter. As of December 31, 2016, we had accrued a total of $74,516,000 for our prospective environmental remediation liability. This accrual includes (a) $29,507,000, which was our best estimate of reasonably estimable environmental remediation obligations and obligations to remove USTs for which we are the title owner, net of estimated recoveries and (b) $45,009,000 for future environmental liabilities related to preexisting unknown contamination. As of December 31, 2015, we had accrued a total of $84,345,000 for our prospective environmental remediation liability. This accrual includes (a) $38,902,000, which was our best estimate of reasonably estimable environmental remediation obligations and obligations to remove USTs for which we are the title owner, net of estimated recoveries and (b) $45,443,000 for future environmental liabilities related to preexisting unknown contamination.

Environmental liabilities are accreted for the change in present value due to the passage of time and, accordingly, $4,107,000, $4,829,000 and $3,046,000 of net accretion expense was recorded for the years ended December 31, 2016, 2015 and 2014, respectively, which is included in environmental expenses. In addition, during the years ended December 31, 2016, 2015 and 2014, we recorded credits to environmental expenses included in continuing and discontinued operations aggregating $7,007,000, $4,639,000 and $2,756,000, respectively, where decreases in estimated remediation costs exceeded the depreciated carrying value of previously capitalized asset retirement costs. Environmental expenses also include project management fees, legal fees and provisions for environmental litigation losses.

During the years ended December 31, 2016 and 2015, we increased the carrying value of certain of our properties by $11,346,000 and $12,285,000, respectively, due to increases in estimated environmental remediation costs. The recognition and subsequent changes in estimates in environmental liabilities and the increase or decrease in carrying values of the properties are non-cash transactions which do not appear on the face of the consolidated statements of cash flows. We recorded impairment charges aggregating $11,658,000 (consisting of $11,467,000 for known environmental liabilities and $191,000 for reserves for future environmental liabilities) and $12,548,000 (consisting of $10,398,000 for known environmental liabilities and $2,150,000 for reserves for future environmental liabilities) for the years ended December 31, 2016 and 2015, respectively, in continuing and discontinued operations for capitalized asset retirement costs. Capitalized asset retirement costs are being depreciated over the estimated remaining life of the UST, a ten-year period if the increase in carrying value is related to environmental remediation obligations or such shorter period if circumstances warrant, such as the remaining lease term for properties we lease from others. Depreciation and amortization expense related to capitalized asset retirement costs included in continuing and discontinued operations in our consolidated statements of operations for the years ended December 31, 2016, 2015 and 2014, were $5,126,000, $5,997,000 and $1,560,000, respectively. Capitalized asset retirement costs were $49,125,000 (consisting of $20,636,000 of known environmental liabilities and $28,489,000 of reserves for future environmental liabilities) and $51,393,000 (consisting of $20,939,000 of known environmental liabilities and $30,454,000 of reserves for future environmental liabilities) as of December 31, 2016 and 2015, respectively.

As part of the triple-net leases for our properties previously leased to Marketing, we transferred title of the USTs to our tenants, and the obligation to pay for the retirement and decommissioning or removal of USTs at the end of their useful lives or earlier if circumstances warranted was fully or partially transferred to our new tenants. We remain contingently liable for this obligation in the event that our tenants do not satisfy their responsibilities. Accordingly, through December 31, 2016, we removed $13,769,000 of asset retirement obligations and $10,808,000 of net asset retirement costs related to USTs from our balance sheet. The cumulative net amount of $2,961,000 is recorded as deferred rental revenue and will be recognized on a straight-line basis as additional revenues from rental properties over the terms of the various leases. See Note 2 for additional information.

We cannot predict what environmental legislation or regulations may be enacted in the future or how existing laws or regulations will be administered or interpreted with respect to products or activities to which they have not previously been applied. We cannot predict if state UST fund programs will be administered and funded in the future in a manner that is consistent with past practices and if future environmental spending will continue to be eligible for reimbursement at historical recovery rates under these programs. Compliance with more stringent laws or regulations, as well as more vigorous enforcement policies of the regulatory agencies or stricter interpretation of existing laws, which may develop in the future, could have an adverse effect on our financial position, or that of our tenants, and could require substantial additional expenditures for future remediation.

In light of the uncertainties associated with environmental expenditure contingencies, we are unable to estimate ranges in excess of the amount accrued with any certainty; however, we believe it is possible that the fair value of future actual net expenditures could be substantially higher than amounts currently recorded by us. Adjustments to accrued liabilities for environmental remediation obligations will be reflected in our consolidated financial statements as they become probable and a reasonable estimate of fair value can be made. Future environmental expenses could cause a material adverse effect on our business, financial condition, results of operations, liquidity, ability to pay dividends or stock price.

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Income Taxes

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 6. — INCOME TAXES

Net cash paid for income taxes for the years ended December 31, 2016, 2015 and 2014 of $368,000, $341,000 and $316,000, respectively, includes amounts related to state and local income taxes for jurisdictions that do not follow the federal tax rules, which are provided for in property costs in our consolidated statements of operations.

Earnings and profits (as defined in the Internal Revenue Code) are used to determine the tax attributes of dividends paid to stockholders and will differ from income reported for consolidated financial statements purposes due to the effect of items which are reported for income tax purposes in years different from that in which they are recorded for consolidated financial statements purposes. The federal tax attributes of the common dividends for the years ended December 31, 2016, 2015 and 2014 were: ordinary income of 61.6%, 83.8% and 43.9%, capital gain distributions of 34.4%, 16.2% and 56.1% and non-taxable distributions of 4.0%, 0.0% and 0.0%, respectively.

To qualify for taxation as a REIT, we, among other requirements such as those related to the composition of our assets and gross income, must distribute annually to our stockholders at least 90% of our taxable income, including taxable income that is accrued by us without a corresponding receipt of cash. We cannot provide any assurance that our cash flows will permit us to continue paying cash dividends. Should the Internal Revenue Service (“IRS”) successfully assert that our earnings and profits were greater than the amount distributed, we may fail to qualify as a REIT; however, we may avoid losing our REIT status by paying a deficiency dividend to eliminate any remaining earnings and profits. We may have to borrow money or sell assets to pay such a deficiency dividend. Although tax returns for the years 2013, 2014 and 2015, and tax returns which will be filed for the year ended 2016, remain open to examination by federal and state tax jurisdictions under the respective statute of limitations, we have not currently identified any uncertain tax positions related to those years and, accordingly, have not accrued for uncertain tax positions as of December 31, 2016 or 2015. However, uncertain tax matters may have a significant impact on the results of operations for any single fiscal year or interim period.

In January 2014, we received a favorable ruling from the IRS indicating that a portion of the payments received from the Marketing Estate will be treated as qualifying income and the remainder will be excluded from gross income for the purposes of the REIT qualification gross income tests. Therefore, none of the cash flow received from the Marketing Estate was treated as non-qualifying income for purposes of the REIT qualification gross income tests. During 2015, we received distributions from Marketing Estate in the amount of $18,177,000, which was treated as non-qualifying income for REIT qualification gross income tests.

The IRS has allowed the use of a procedure, as a result of which we could satisfy the REIT income distribution requirement by making a distribution on our common stock comprised of (i) shares of our common stock having a value of up to 80% of the total distribution and (ii) cash in the remaining amount of the total distribution, in lieu of paying the distribution entirely in cash. In January 2015, we received a private letter ruling from the IRS that allows us to use such a procedure.

On November 25, 2015, our Board of Directors declared a special dividend of $0.22 per share (the “Special Dividend”). The Special Dividend was payable in either common stock or cash. The aggregate amount of cash to be distributed by the Company was a minimum of 20% of the total distribution and a maximum of 40% of the total distribution, with the remainder to be paid in shares of common stock. As a result, we issued 255,747 shares of common stock and made cash payments aggregating $2,941,000 to our shareholders.

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Shareholders' Equity

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Shareholders' Equity

NOTE 7. — SHAREHOLDERS’ EQUITY

A summary of the changes in shareholders’ equity for the years ended December 31, 2016, 2015 and 2014 is as follows (in thousands, except per share amounts):

	COMMON STOCK				ADDITIONAL PAID-IN		DIVIDENDS PAID IN EXCESS
	SHARES		AMOUNT		CAPITAL		OF EARNINGS			TOTAL
BALANCE, DECEMBER 31, 2013		33,397	$	334	$	462,397	$	(47,640	)	$	415,091
Net earnings								23,418			23,418
Dividends declared — $0.960 per share								(32,402	)		(32,402	)
Stock-based compensation		20		—		917		—			917
BALANCE, DECEMBER 31, 2014		33,417	$	334	$	463,314	$	(56,624	)	$	407,024
Net earnings								37,410			37,410
Dividends declared — $1.15 per share								(38,897	)		(38,897	)
Stock-based compensation		5		—		1,024		—			1,024
BALANCE, DECEMBER 31, 2015		33,422	$	334	$	464,338	$	(58,111	)	$	406,561
Net earnings								38,411			38,411
Dividends declared — $1.03 per share								(35,385	)		(35,385	)
Shares issued pursuant to ATM Program, net		653		7		14,879		—			14,886
Shares issued pursuant to stock dividends		256		3		4,409		—			4,412
Shares issued pursuant to dividend reinvestment		43		—		897		—			897
Stock-based compensation		19		—		1,136		—			1,136
BALANCE, DECEMBER 31, 2016		34,393	$	344	$	485,659	$	(55,085	)	$	430,918

We are authorized to issue 20,000,000 shares of preferred stock, par value $.01 per share, of which none were issued as of December 31, 2016 or December 31, 2015.

ATM Program

In June 2016, we established an at-the-market equity offering program (the “ATM Program”), pursuant to which we may issue and sell shares of our common stock with an aggregate sales price of up to $125,000,000 through a consortium of banks acting as agents. Sales of the shares of common stock may be made, as needed, from time to time in at-the-market offerings as defined in Rule 415 of the Securities Act of 1933, including by means of ordinary brokers’ transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or as otherwise agreed to with the applicable agent. We incurred $360,000 of stock issuance costs in the establishment of the ATM Program. Stock issuance costs consisted primarily of underwriters’ fees and legal and accounting fees.

During the year ended December 31, 2016, we issued 653,000 shares and received net proceeds of $14,886,000. Future sales, if any, will depend on a variety of factors to be determined by us from time to time, including among others, market conditions, the trading price of our common stock, determinations by us of the appropriate sources of funding for us and potential uses of funding available to us.

Dividends

For the year ended December 31, 2016, we paid dividends of $40,643,000 or $1.22 per share (which consisted of $33,202,000 or $1.00 per share of regular quarterly cash dividends and a $7,441,000 or $0.22 per share special cash and stock dividend). For the year ended December 31, 2015, we paid dividends of $35,150,000 or $1.04 per share (which consisted of $30,425,000 or $0.90 per share of regular quarterly cash dividends and a $4,725,000 or $0.14 per share special cash dividend).

Dividend Reinvestment Plan

Our dividend reinvestment plan provides our common stockholders with a convenient and economical method of acquiring additional shares of common stock by reinvesting all or a portion of their dividend distributions. During the year ended December 31, 2016, we issued 42,681 shares under the dividend reinvestment plan and raised $897,000.

Stock-Based Compensation

Compensation cost for our stock-based compensation plans using the fair value method was $1,426,000, $1,090,000 and $917,000 for the years ended December 31, 2016, 2015 and 2014, respectively, and is included in general and administrative expenses in our consolidated statements of operations.

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Employee Benefit Plans

12 Months Ended

Dec. 31, 2016

Postemployment Benefits [Abstract]

Employee Benefit Plans

NOTE 8. — EMPLOYEE BENEFIT PLANS

The Getty Realty Corp. 2004 Omnibus Incentive Compensation Plan (the “2004 Plan”) provided for the grant of restricted stock, restricted stock units (“RSUs”), performance awards, dividend equivalents, stock payments and stock awards to all employees and members of the Board of Directors. In May 2014, an Amended and Restated 2004 Omnibus Incentive Compensation Plan (the “Restated Plan”) was approved at our annual meeting of shareholders. The Restated Plan maintained the 2004 Plan’s authorization to grant awards with respect to an aggregate of 1,000,000 shares of common stock, and extended the term of 2004 Plan to May 2019. The Restated Plan increased the aggregate maximum number of shares of common stock that may be subject to awards granted during any calendar year to 100,000. The Restated Plan also included several updates to the 2004 Plan in order to comply with the current Internal Revenue Code. RSUs awarded under the 2004 Plan vest on a cumulative basis ratably over a five-year period with the first 20% vesting occurring on the first anniversary of the date of the grant.

In addition, in April 2012, the Compensation Committee of the Board of Directors adopted, for 2012 only, a performance-based incentive compensation feature to our compensation program for named executive officers (“NEOs”) and other executives. Under the 2012 performance-based incentive compensation program, the RSUs that were granted, were granted on terms substantially consistent with the 2004 Plan, except for the relative vesting schedules. RSUs granted under the 2012 performance-based incentive compensation program vest on a cumulative basis, with the first 20% vesting occurring on May 1, 2013, and an additional 20% vesting on each May 1 thereafter, through May 1, 2017. In February 2013, the Compensation Committee granted a total of 35,000 RSUs to NEOs and other executives under the 2012 performance-based incentive compensation program. All such RSU grants include related dividend equivalents.

We awarded to employees and directors 86,600, 79,250 and 72,125 RSUs and dividend equivalents in 2016, 2015 and 2014, respectively. RSUs granted before 2009 provide for settlement upon termination of employment with the Company or termination of service from the Board of Directors. RSUs granted in 2009 and thereafter provide for settlement upon the earlier of ten years after grant or termination of employment with the Company. On the settlement date each vested RSU will have a value equal to one share of common stock and may be settled, at the sole discretion of the Compensation Committee, in cash or by the issuance of one share of common stock. The RSUs do not provide voting or other shareholder rights unless and until the RSU is settled for a share of common stock. The RSUs vest starting one year from the date of grant, on a cumulative basis at the annual rate of 20% of the total number of RSUs covered by the award. The dividend equivalents represent the value of the dividends paid per common share multiplied by the number of RSUs covered by the award. For the years ended December 31, 2016, 2015 and 2014, dividend equivalents aggregating approximately $445,000, $464,000 and $333,000 respectively, were charged against retained earnings when common stock dividends were declared.

The following is a schedule of the activity relating to RSUs outstanding:

	NUMBER OF RSUs OUTSTANDING			FAIR VALUE
				AMOUNT		AVERAGE PER RSU
RSUs OUTSTANDING AT DECEMBER 31, 2013		295,850
Granted		72,125		$	1,386,000	$	19.21
Settled		(19,550	)	$	360,000	$	18.43
Cancelled		(15,900	)	$	293,000	$	18.44
RSUs OUTSTANDING AT DECEMBER 31, 2014		332,525
Granted		79,250		$	1,429,700	$	18.04
Settled		(8,160	)	$	144,300	$	17.68
Cancelled		(3,240	)	$	55,600	$	17.16
RSUs OUTSTANDING AT DECEMBER 31, 2015		400,375
Granted		86,600		$	1,593,400	$	18.40
Settled		(34,650	)	$	635,800	$	18.35
Cancelled		(22,550	)	$	415,400	$	18.42
RSUs OUTSTANDING AT DECEMBER 31, 2016		429,775

The fair values of the RSUs were determined based on the closing market price of our stock on the date of grant. The fair value of the grants is recognized as compensation expense ratably over the five-year vesting period of the RSUs. Compensation expense related to RSUs for the years ended December 31, 2016, 2015 and 2014, was $1,418,000, $1,083,000 and $910,000, respectively, and is included in general and administrative expenses in our consolidated statements of operations. As of December 31, 2016, there was $2,660,000 of unrecognized compensation cost related to RSUs granted under the 2004 Plan and the 2012 performance-based incentive compensation program, which cost is expected to be recognized over a weighted average period of approximately three years. The aggregate intrinsic value of the 429,775 outstanding RSUs and the 221,819 vested RSUs as of December 31, 2016, was $10,955,000 and $5,654,000, respectively.

The following is a schedule of the vesting activity relating to RSUs outstanding:

	NUMBER OF RSUs VESTED			FAIR VALUE
RSUs VESTED AT DECEMBER 31, 2013		136,135
Vested		38,270		$	697,000
Settled		(19,550	)	$	360,000
RSUs VESTED AT DECEMBER 31, 2014		154,855
Vested		55,649		$	954,400
Settled		(8,160	)	$	144,300
RSUs VESTED AT DECEMBER 31, 2015		202,344
Vested		54,125		$	1,379,600
Settled		(34,650	)	$	635,800
RSUs VESTED AT DECEMBER 31, 2016		221,819

We have a retirement and profit sharing plan with deferred 401(k) savings plan provisions (the “Retirement Plan”) for employees meeting certain service requirements and a supplemental plan for executives (the “Supplemental Plan”). Under the terms of these plans, the annual discretionary contributions to the plans are determined by the Compensation Committee of the Board of Directors.

Also, under the Retirement Plan, employees may make voluntary contributions and we have elected to match an amount equal to fifty percent of such contributions but in no event more than three percent of the employee’s eligible compensation. Under the Supplemental Plan, a participating executive may receive an amount equal to ten percent of eligible compensation, reduced by the amount of any contributions allocated to such executive under the Retirement Plan. Contributions, net of forfeitures, under the retirement plans approximated $268,000, $284,000 and $261,000 for the years ended December 31, 2016, 2015 and 2014, respectively. These amounts are included in general and administrative expenses in our consolidated statements of operations. During the year ended December 31, 2016, we distributed $469,000 from the Supplemental Plan to one former officer of the Company. During the year ended December 31, 2014, we distributed $2,690,000 from the Supplemental Plan to two former officers of the Company. There were no distributions from the Supplemental Plan for the year ended December 31, 2015.

We have a stock option plan (the “Stock Option Plan”). Our authorization to grant options to purchase shares of our common stock under the Stock Option Plan has expired. As of December 31, 2016 and 2015, there were 5,000 options outstanding which were exercisable at $27.68 with an expiration date of May 15, 2017. As of December 31, 2016 and 2015, the 5,000 options outstanding had no intrinsic value.

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Earnings Per Common Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Common Share

NOTE 9. — EARNINGS PER COMMON SHARE

Basic and diluted earnings per common share gives effect, utilizing the two-class method, to the potential dilution from the issuance of common shares in settlement of restricted stock units (“RSU” or “RSUs”) which provide for non-forfeitable dividend equivalents equal to the dividends declared per common share. Basic and diluted earnings per common share is computed by dividing net earnings less dividend equivalents attributable to RSUs by the weighted-average number of common shares outstanding during the year. Diluted earnings per common share, also gives effect to the potential dilution from the exercise of stock options utilizing the treasury stock method. There were 5,000 stock options excluded from the earnings per share calculations below as they were anti-dilutive as of December 31, 2016, 2015 and 2014, respectively.

	Year ended December 31,
(in thousands):	2016			2015			2014
Earnings from continuing operations	$	42,081		$	40,370		$	20,405
Less dividend equivalents attributable to RSUs outstanding		(482	)		(460	)		(341	)
Earnings from continuing operations attributable to common shareholders		41,599			39,910			20,064
(Loss) earnings from discontinued operations		(3,670	)		(2,960	)		3,013
Less dividend equivalents attributable to RSUs outstanding		—			—			(50	)
(Loss) earnings from discontinued operations attributable to common shareholders		(3,670	)		(2,960	)		2,963
Net earnings attributable to common shareholders used for basic and diluted earnings per share calculation	$	37,929		$	36,950		$	23,027
Weighted average common shares outstanding:
Basic and diluted		33,806			33,420			33,409
RSUs outstanding at the end of the period		430			400			333
Basic and diluted earnings per common share	$	1.12		$	1.11		$	0.69

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Discontinued Operations and Assets Held For Sale

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Assets Held For Sale

NOTE 10. — DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE

We report as discontinued operations two properties which met the criteria to be accounted for as held for sale in accordance with GAAP as of June 30, 2014, and certain properties disposed of during the periods presented that were previously classified as held for sale as of June 30, 2014. All results of these discontinued operations are included in a separate component of income on the consolidated statements of operations under the caption discontinued operations. We elected to early adopt ASU 2014-08, Presentation of Financial Statements (Topic 205), effective July 1, 2014 and, as a result, the results of operations for all qualifying disposals and properties classified as held for sale that were not previously reported in discontinued operations as of June 30, 2014, are presented within income from continuing operations in our consolidated statements of income.

During the year ended December 31, 2016, we sold two properties resulting in a loss of $205,000 that were previously classified as held for sale as of June 30, 2014. In addition, during the year ended December 31, 2016, we sold 12 properties resulting in a recognized gain of $2,373,000 that did not meet the criteria to be classified as discontinued operations. We determined that the 12 properties sold did not represent a strategic shift in our operations as defined in ASU 2014-08 and, as a result, the gains on dispositions of real estate for the 12 properties were reflected in our earnings from continuing operations. We also received funds from property condemnations resulting in a gain of $177,000 and recognized the remaining deferred gain of $3,868,000 related to the Ramoco sale.

Real estate held for sale consisted of the following at December 31, 2016 and 2015:

(in thousands)	Year ended December 31,
	2016		2015
Land	$	117	$	603
Buildings and improvements		528		997
		645		1,600
Accumulated depreciation and amortization		—		(261	)
Real estate held for sale, net	$	645	$	1,339

The revenue from rental properties, impairment charges, other operating expenses and gains/losses from dispositions of real estate related to these properties are as follows:

	Year ended December 31,
(in thousands)	2016			2015			2014
Revenues from rental properties	$	5		$	164		$	2,372
Impairments		(5,926	)		(5,746	)		(8,596	)
Other operating income		2,456			2,283			242
(Loss) from operating activities		(3,465	)		(3,299	)		(5,982	)
(Loss) gains from dispositions of real estate		(205	)		339			8,995
(Loss) earnings from discontinued operations	$	(3,670	)	$	(2,960	)	$	3,013

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Quarterly Financial Data

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data

NOTE 11. — QUARTERLY FINANCIAL DATA

The following is a summary of the quarterly results of operations for the years ended December 31, 2016 and 2015 (unaudited as to quarterly information) (in thousands, except per share amounts):

	THREE MONTHS ENDED
YEAR ENDED DECEMBER 31, 2016	MARCH 31,			JUNE 30,		SEPTEMBER 30,		DECEMBER 31,
Revenues from rental properties	$	24,388		$	24,140	$	24,328	$	25,083
Earnings from continuing operations		7,842			13,583		9,236		11,420
Net earnings	$	7,703		$	13,576	$	8,804	$	8,328
Diluted earnings per common share:
Earnings from continuing operations	$	0.23		$	0.40	$	0.27	$	0.33
Net earnings	$	0.23		$	0.40	$	0.26	$	0.24
YEAR ENDED DECEMBER 31, 2015	MARCH 31,			JUNE 30,		SEPTEMBER 30,		DECEMBER 31,
Revenues from rental properties	$	20,413		$	22,122	$	24,840	$	25,514
(Loss) earnings from continuing operations		(81	)		11,503		8,564		20,384
Net (loss) earnings	$	(1,137	)	$	11,619	$	7,035	$	19,893
Diluted (loss) earnings per common share:
(Loss) earnings from continuing operations	$	(0.01	)	$	0.34	$	0.25	$	0.60
Net (loss) earnings	$	(0.04	)	$	0.34	$	0.21	$	0.59

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Property Acquisitions

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Property Acquisitions

NOTE 12. — PROPERTY ACQUISITIONS

During the year ended December 31, 2016, we acquired fee simple or leasehold interests in three convenience store and gasoline station properties and an adjacent parcel of land to an existing property for a redevelopment project, in separate transactions, for an aggregate purchase price of $7,688,000. We accounted for the acquisitions of fee simple interests and leasehold title as business combinations. We estimated the fair value of acquired tangible assets (consisting of land, buildings and improvements) “as if vacant.” Based on these estimates, we allocated $1,041,000 of the purchase price to land, $6,111,000 to buildings and improvements and $374,000 to in-place leases. In addition, we purchased an adjacent parcel of land to an existing property for a redevelopment project for $162,000. We incurred transaction costs of $86,000 directly related to these acquisitions which are included in general and administrative expenses in our consolidated statements of operations.

During the year ended December 31, 2015, we acquired fee simple interests in 80 convenience store and gasoline station properties for an aggregate purchase price of $219,200,000.

On June 3, 2015, we acquired fee simple interests in 77 convenience store and gasoline station properties from affiliates of Pacific Convenience and Fuels LLC which we simultaneously leased to Apro, LLC (d/b/a “United Oil”), a leading regional convenience store and gasoline station operator, under three separate cross-defaulted long-term triple-net unitary leases (the “United Oil Transaction”). The United Oil properties are located across California, Colorado, Nevada, Oregon and Washington State and operate under several well recognized brands including 7-Eleven, 76, Circle K, Conoco and My Goods Market. The total purchase price for the United Oil Transaction was $214,500,000, which was funded with proceeds from our Credit Agreement and Restated Prudential Note Purchase Agreement.

The leases governing the properties are unitary triple-net lease agreements with initial terms of 20 years and options for up to three successive five-year renewal options. The unitary leases require United Oil to pay a fixed annual rent plus all amounts pertaining to the properties including environmental expenses, real estate taxes, assessments, license and permit fees, charges for public utilities and all other governmental charges. Rent is contractually scheduled to increase at various intervals over the course of the initial and renewal terms of the leases.

We accounted for the United Oil Transaction as a business combination. We estimated the fair value of acquired tangible assets (consisting of land, buildings and improvements) “as if vacant.” Based on these estimates, we allocated $140,966,000 of the purchase price to land, $75,119,000 to buildings and improvements, $216,000 to above-market leases, $19,210,000 to below-market leases, which is accounted for as a deferred liability and $17,402,000 to in-place leases and other intangible assets. We incurred transaction costs of $413,000 directly related to the acquisition which are included in general and administrative expenses in our consolidated statements of operations.

In addition, in 2015, we acquired fee simple interests in three convenience store and gasoline station properties in separate transactions for an aggregate purchase price of $4,700,000.

Unaudited Pro Forma Condensed Consolidated Financial Information

The following unaudited pro forma condensed consolidated financial information has been prepared utilizing our historical financial statements and the combined effect of additional revenue and expenses from the properties acquired assuming that the acquisitions had occurred on January 1, 2014, after giving effect to certain adjustments resulting from the straight-lining of scheduled rent increases. The following information also gives effect to the additional interest expense resulting from the assumed increase in borrowings outstanding under the Credit Agreement and the Restated Prudential Note Purchase Agreement to fund the acquisition. The unaudited pro forma condensed financial information is not indicative of the results of operations that would have been achieved had the acquisition reflected herein been consummated on the dates indicated or that will be achieved in the future.

(in thousands, except per share data)	Year ended December 31,
	2015		2014
Revenues from continuing operations	$	118,003	$	117,340
Earnings from continuing operations	$	41,763	$	22,399
Basic and diluted earnings from continuing operations per common share	$	1.24	$	0.66

Total revenues for the United Oil Transaction included in continuing operations were $17,631,000 and $10,177,000 for the years ended December 31, 2016 and 2015, respectively. Net earnings for the United Oil Transaction were $11,762,000 and $6,952,000 for the years ended December 31, 2016 and 2015, respectively.

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Acquired Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Acquired Intangible Assets

NOTE 13. — ACQUIRED INTANGIBLE ASSETS

Acquired above-market (when we are a lessor) and below-market leases (when we are a lessee) are included in prepaid expenses and other assets and had a balance of $2,527,000 and $3,021,000 (net of accumulated amortization of $4,210,000 and $3,715,000, respectively) at December 31, 2016 and 2015, respectively. Acquired above-market (when we are lessee) and below-market (when we are lessor) leases are included in accounts payable and accrued liabilities and had a balance of $22,539,000 and $24,534,000 (net of accumulated amortization of $13,619,000 and $11,624,000, respectively) at December 31, 2016 and 2015, respectively. When we are a lessor, above-market and below-market leases are amortized and recorded as either an increase (in the case of below-market leases) or a decrease (in the case of above-market leases) to rental revenue over the remaining term of the associated lease in place at the time of purchase. In-place leases are included in prepaid expenses and other assets and had a balance of $20,984,000 and $22,004,000 (net of accumulated amortization of $5,187,000 and $3,793,000, respectively) at December 31, 2016 and 2015, respectively. When we are a lessee, above-market and below-market leases are amortized and recorded as either an increase (in the case of below-market leases) or a decrease (in the case of above-market leases) to rental expense over the remaining term of the associated lease in place at the time of purchase. Rental income included amortization from acquired leases of $1,833,000, $1,426,000 and $1,239,000 for the years ended December 31, 2016, 2015 and 2014, respectively. Rent expense included amortization from acquired leases of $333,000 for the years ended December 31, 2016, 2015 and 2014. The value associated with in-place leases and lease origination costs are amortized into depreciation and amortization expense over the remaining life of the lease. Depreciation and amortization expense included amortization from in-place leases of $1,395,000, $1,019,000 and $518,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

The amortization for acquired intangible assets during the next five years and thereafter, assuming no early lease terminations, is as follows:

	Above-Market Leases		Below-Market Leases		In-Place Leases
As Lessor:
Year ending December 31,
2017	$	148,000	$	1,833,000	$	1,389,000
2018		47,000		1,781,000		1,363,000
2019		30,000		1,701,000		1,342,000
2020		24,000		1,463,000		1,322,000
2021		16,000		1,322,000		1,301,000
Thereafter		179,000		14,439,000		14,267,000
	$	444,000	$	22,539,000	$	20,984,000

	Below-Market Leases
As Lessee:
Year ending December 31,
2017	$	320,000
2018		317,000
2019		312,000
2020		222,000
2021		157,000
Thereafter		755,000
	$	2,083,000

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Subsequent Events

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

NOTE 14. — SUBSEQUENT EVENTS

We have evaluated events and transactions occurring after December 31, 2016, for recognition or disclosure purposes. On February 21, 2017, we entered into an amended and restated note purchase agreement with Prudential and an affiliate of Prudential. Pursuant to this agreement, Prudential and its affiliate issued $50,000,000 of senior unsecured Series C Notes bearing interest at 4.75% and maturing in February 2025. The proceeds were used to repay borrowings outstanding under our Revolving Facility. There were no other reportable subsequent events or transactions.

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SCHEDULE II - Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2016

Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - Valuation and Qualifying Accounts and Reserves

GETTY REALTY CORP. and SUBSIDIARIES

SCHEDULE II — VALUATION and QUALIFYING ACCOUNTS and RESERVES

for the years ended December 31, 2016, 2015 and 2014

(in thousands)

	BALANCE AT BEGINNING OF YEAR		ADDITIONS		DEDUCTIONS		BALANCE AT END OF YEAR
December 31, 2016:
Allowance for deferred rent receivable	$	—	$	—	$	—	$	—
Allowance for accounts receivable	$	2,634	$	855	$	1,483	$	2,006
December 31, 2015:
Allowance for deferred rent receivable	$	7,009	$	—	$	7,009	$	—
Allowance for accounts receivable	$	4,160	$	1,778	$	3,304	$	2,634
December 31, 2014:
Allowance for deferred rent receivable	$	4,775	$	2,234	$	—	$	7,009
Allowance for accounts receivable	$	3,248	$	1,182	$	270	$	4,160

XML

SCHEDULE III - Real Estate and Accumulated Depreciation and Amortization

12 Months Ended

Dec. 31, 2016

Text Block [Abstract]

SCHEDULE III - Real Estate and Accumulated Depreciation and Amortization

GETTY REALTY CORP. and SUBSIDIARIES

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION AND AMORTIZATION

As of December 31, 2016

(in thousands)

The summarized changes in real estate assets and accumulated depreciation are as follows:

	2016			2015			2014
Investment in real estate:
Balance at beginning of year	$	783,233		$	595,959		$	570,275
Acquisitions and capital expenditures		19,097			233,785			79,259
Impairments		(13,590	)		(20,606	)		(24,620	)
Sales and condemnations		(6,379	)		(25,019	)		(25,786	)
Lease expirations/settlements		(195	)		(886	)		(3,169	)
Balance at end of year	$	782,166		$	783,233		$	595,959
Accumulated depreciation and amortization:
Balance at beginning of year	$	107,370		$	100,690		$	103,452
Depreciation and amortization		16,629			15,663			9,777
Impairments		(776	)		(3,246	)		(3,086	)
Sales and condemnations		(2,559	)		(5,313	)		(6,544	)
Lease expirations/settlements		(88	)		(424	)		(2,909	)
Balance at end of year	$	120,576		$	107,370		$	100,690

	Initial Cost of Leasehold or Acquisition Investment to Company (1)		Cost Capitalized Subsequent to Initial Investment			Gross Amount at Which Carried at Close of Period								Date of Initial Leasehold or Acquisition Investment (1)
						Land		Building and Improvements		Total Cost		Accumulated Depreciation
Brookland, AR	$	1,468	$	—		$	149	$	1,319	$	1,468	$	508		2007
Jonesboro, AR		868		—			173		695		868		282		2007
Jonesboro, AR		2,985		—			330		2,655		2,985		1,076		2007
Bellflower, CA		1,369		—			910		459		1,369		241		2007
Benicia, CA		2,224		—			1,058		1,166		2,224		639		2007
Chula Vista, CA		2,385		—			889		1,496		2,385		152		2014
Coachella, CA		2,235		—			1,217		1,018		2,235		521		2007
Cotati, CA		6,072		—			4,008		2,064		6,072		180		2015
Fillmore, CA		1,354		—			950		404		1,354		211		2007
Grass Valley, CA		1,485		—			853		632		1,485		57		2015
Hesperia, CA		1,643		—			849		794		1,643		384		2007
Hesperia, CA		2,055		—			492		1,563		2,055		166		2015
Indio, CA		1,250		—			302		948		1,250		89		2015
Indio, CA		2,727		—			1,486		1,241		2,727		122		2015
La Palma, CA		1,971		—			1,389		582		1,971		300		2007
La Puente, CA		7,615		—			6,405		1,210		7,615		125		2015
Lakeside, CA		3,715		—			2,695		1,020		3,715		100		2015
Los Angeles, CA		6,612		—			5,006		1,606		6,612		164		2015
Oakland, CA		5,434		—			4,123		1,311		5,434		132		2015
Ontario, CA		6,613		—			4,523		2,090		6,613		213		2015
Phelan, CA		4,611		—			3,276		1,335		4,611		139		2015
Riverside, CA		2,130		—			1,619		511		2,130		67		2015
Riverside, CA		2,737		—			1,216		1,521		2,737		179		2014
Sacramento, CA		3,193		—			2,207		986		3,193		103		2015
Sacramento, CA		4,247		—			2,604		1,643		4,247		151		2015
Sacramento, CA		5,942		—			4,233		1,709		5,942		168		2015
San Dimas, CA		1,941		—			749		1,192		1,941		528		2007
San Jose, CA		5,412		—			4,219		1,193		5,412		131		2015
San Leandro, CA		5,978		—			5,078		900		5,978		97		2015
Shingle Springs, CA		4,751		—			3,489		1,262		4,751		128		2015
Stockton, CA		1,187		—			627		560		1,187		58		2015
Stockton, CA		3,001		—			1,460		1,541		3,001		145		2015
Boulder, CO		3,900		—			2,875		1,025		3,900		95		2015
Castle Rock, CO		5,269		—			3,269		2,000		5,269		197		2015
Golden, CO		4,641		—			3,247		1,394		4,641		134		2015
Greenwood Village, CO		4,077		—			2,889		1,188		4,077		109		2015
Highlands Ranch, CO		4,356		—			2,921		1,435		4,356		140		2015
Lakewood, CO		2,349		—			1,541		808		2,349		75		2015
Littleton, CO		4,233		—			2,366		1,867		4,233		182		2015
Lone Tree, CO		6,612		—			5,125		1,487		6,612		152		2015
Longmont, CO		3,619		—			2,315		1,304		3,619		133		2015
Louisville, CO		6,605		—			5,228		1,377		6,605		138		2015
Morrison, CO		5,081		—			3,018		2,063		5,081		209		2015
Superior, CO		3,748		—			2,477		1,271		3,748		124		2015
Thornton, CO		5,003		—			2,722		2,281		5,003		223		2015
Westminster, CO		1,457		—			752		705		1,457		67		2015
Wheat Ridge, CO		6,151		—			4,201		1,950		6,151		197		2015
Avon, CT		731		333			403		661		1,064		309		2002
Bridgeport, CT		346		12			230		128		358		128		1985
Bridgeport, CT		339		22			220		141		361		112		1985
Bridgeport, CT		59		380			24		415		439		196		1982
Bridgeport, CT		313		298			204		407		611		162		1985
Bridgeport, CT		350		330			228		452		680		203		1985
Bridgeport, CT		377		394			246		525		771		254		1985
Bristol, CT		360		—			—		360		360		360		2004
Bristol, CT		365		—			237		128		365		62		2004
Bristol, CT		1,594		—			1,036		558		1,594		272		2004
Brookfield, CT		57		733			20		770		790		288		1985
Cheshire, CT		491		(113	)		267		111		378		46		1985
Cobalt, CT		396		—			—		396		396		396		2004
Darien, CT		667		323			434		556		990		352		1985
Durham, CT		994		—			—		994		994		994		2004
East Hartford, CT		208		224			54		378		432		223		1982
Ellington, CT		1,295		—			842		453		1,295		221		2004
Fairfield, CT		430		51			280		201		481		125		1985
Farmington, CT		466		—			303		163		466		79		2004
Franklin, CT		51		447			20		478		498		257		1982
Hartford, CT		571		—			371		200		571		97		2004
Hartford, CT		665		—			432		233		665		113		2004
Manchester, CT		110		323			50		383		433		147		1987
Meriden, CT		208		339			84		463		547		229		1982
Meriden, CT		1,532		—			989		543		1,532		269		2004
Middletown, CT		132		564			131		565		696		242		1987
Middletown, CT		1,039		—			675		364		1,039		177		2004
Milford, CT		293		45			191		147		338		120		1985
Milford, CT		57		295			30		322		352		103		1985
Montville, CT		57		332			24		365		389		146		1982
New Britain, CT		391		—			254		137		391		67		2004
New Haven, CT		217		297			141		373		514		135		1985
New Haven, CT		539		454			351		642		993		373		1985
New Haven, CT		1,414		(275	)		569		570		1,139		99		1985
Newington, CT		954		—			620		334		954		162		2004
North Haven, CT		405		—			252		153		405		84		2004
Norwalk, CT		511		45			332		224		556		181		1985
Norwalk, CT		—		942			402		540		942		188		1988
Norwich, CT		107		323			44		386		430		172		1982
Old Greenwich, CT		—		1,223			620		603		1,223		194		1969
Plainville, CT		545		—			354		191		545		93		2004
Plymouth, CT		931		—			605		326		931		159		2004
Ridgefield, CT		402		304			167		539		706		324		1985
Ridgefield, CT		536		466			348		654		1,002		318		1985
South Windham, CT		644		1,398			598		1,444		2,042		548		2004
South Windsor, CT		545		—			337		208		545		115		2004
Stamford, CT		507		16			330		193		523		150		1985
Stamford, CT		603		343			393		553		946		265		1985
Stamford, CT		508		476			330		654		984		260		1985
Suffield, CT		237		603			201		639		840		481		2004
Tolland, CT		108		379			44		443		487		220		1982
Vernon, CT		1,434		—			—		1,434		1,434		1,434		2004
Wallingford, CT		551		—			335		216		551		123		2004
Waterbury, CT		469		—			305		164		469		80		2004
Waterbury, CT		515		—			335		180		515		88		2004
Waterbury, CT		804		—			516		288		804		145		2004
Watertown, CT		352		343			204		491		695		215		1992
Watertown, CT		925		—			567		358		925		201		2004
West Haven, CT		185		322			74		433		507		214		1982
West Haven, CT		1,215		—			790		425		1,215		207		2004
Westbrook, CT		345		—			—		345		345		345		2004
Westport, CT		604		12			393		223		616		172		1985
Wethersfield, CT		447		—			—		447		447		447		2004
Willimantic, CT		717		—			466		251		717		122		2004
Wilton, CT		519		364			338		545		883		242		1985
Windsor Locks, CT		1,031		—			670		361		1,031		176		2004
Windsor Locks, CT		1,434		1,400			1,055		1,779		2,834		1,453		2004
Washington, DC		848		—			418		430		848		79		2013
Washington, DC		941		—			664		277		941		58		2013
Orlando, FL		868		33			401		500		901		333		2000
Haleiwa, HI		1,522		—			1,058		464		1,522		300		2007
Honolulu, HI		1,069		16			981		104		1,085		75		2007
Honolulu, HI		1,539		—			1,219		320		1,539		162		2007
Honolulu, HI		1,769		—			1,192		577		1,769		269		2007
Honolulu, HI		9,211		—			8,194		1,017		9,211		490		2007
Kaneohe, HI		1,364		—			822		542		1,364		295		2007
Kaneohe, HI		1,978		182			1,473		687		2,160		297		2007
Waianae, HI		1,520		—			648		872		1,520		406		2007
Waianae, HI		1,997		—			871		1,126		1,997		527		2007
Waipahu, HI		2,458		—			945		1,513		2,458		676		2007
Arlington, MA		518		28			338		208		546		164		1985
Auburn, MA		174		213			125		262		387		122		1986
Auburn, MA		—		535			388		147		535		29		1996
Auburn, MA		600		—			600		—		600		—		2011
Auburn, MA		625		—			625		—		625		—		2011
Auburn, MA		369		264			240		393		633		182		1991
Auburn, MA		725		—			725		—		725		—		2011
Auburn, MA		800		—			—		800		800		442		2011
Barre, MA		536		12			348		200		548		111		1991
Bedford, MA		1,350		—			1,350		—		1,350		—		2011
Bellingham, MA		734		73			476		331		807		269		1985
Belmont, MA		390		29			254		165		419		132		1985
Bradford, MA		650		—			650		—		650		—		2011
Burlington, MA		600		—			600		—		600		—		2011
Burlington, MA		1,250		—			1,250		—		1,250		—		2011
Chelmsford, MA		715		—			—		715		715		231		2012
Danvers, MA		400		—			400		—		400		—		2011
Dracut, MA		450		—			450		—		450		—		2011
Falmouth, MA		519		127			458		188		646		121		1988
Fitchburg, MA		390		33			254		169		423		107		1992
Foxborough, MA		427		98			325		200		525		135		1990
Framingham, MA		400		23			260		163		423		100		1991
Gardner, MA		550		—			550		—		550		—		2011
Gardner, MA		1,008		282			657		633		1,290		416		1985
Gardners, MA		787		—			638		149		787		23		2014
Hingham, MA		353		111			243		221		464		152		1989
Hyde Park, MA		499		157			322		334		656		194		1985
Leominster, MA		571		—			199		372		571		89		2012
Lowell, MA		375		9			250		134		384		134		1986
Lowell, MA		361		90			201		250		451		246		1985
Lowell, MA		—		619			429		190		619		37		1996
Lynn, MA		400		—			400		—		400		—		2011
Lynn, MA		850		—			850		—		850		—		2011
Marlborough, MA		550		—			550		—		550		—		2011
Maynard, MA		736		98			479		355		834		219		1985
Melrose, MA		600		—			600		—		600		—		2011
Methuen, MA		300		134			150		284		434		217		1986
Methuen, MA		380		64			246		198		444		166		1985
Methuen, MA		491		97			319		269		588		162		1985
Methuen, MA		650		—			650		—		650		—		2011
Newton, MA		691		124			450		365		815		268		1985
North Andover, MA		394		32			256		170		426		137		1985
Peabody, MA		400		18			252		166		418		166		1986
Peabody, MA		550		—			550		—		550		—		2011
Peabody, MA		650		—			650		—		650		—		2011
Randolph, MA		573		238			430		381		811		228		1985
Revere, MA		1,300		—			1,300		—		1,300		—		2011
Rockland, MA		579		45			377		247		624		198		1985
Salem, MA		600		—			600		—		600		—		2011
Seekonk, MA		1,073		(261	)		576		236		812		88		1985
Shrewsbury, MA		400		—			400		—		400		—		2011
Shrewsbury, MA		450		—			450		—		450		—		2011
Sterling, MA		476		2			309		169		478		94		1991
Sutton, MA		714		62			464		312		776		199		1993
Tewksbury, MA		125		506			75		556		631		170		1986
Tewksbury, MA		1,200		—			1,200		—		1,200		—		2011
Upton, MA		428		115			279		264		543		125		1991
Wakefield, MA		900		—			900		—		900		—		2011
Walpole, MA		450		92			293		249		542		146		1985
Watertown, MA		358		211			321		248		569		142		1985
Webster, MA		1,012		618			659		971		1,630		474		1985
West Boylston, MA		312		29			203		138		341		89		1991
West Roxbury, MA		491		86			319		258		577		181		1985
Westborough, MA		312		21			203		130		333		81		1991
Westborough, MA		450		—			450		—		450		—		2011
Westford, MA		275		81			175		181		356		142		1986
Wilmington, MA		600		—			600		—		600		—		2011
Wilmington, MA		1,300		—			1,300		—		1,300		—		2011
Woburn, MA		350		63			200		213		413		201		1986
Woburn, MA		508		394			508		394		902		250		1985
Worcester, MA		400		—			400		—		400		—		2011
Worcester, MA		500		—			500		—		500		—		2011
Worcester, MA		550		—			550		—		550		—		2011
Worcester, MA		547		11			356		202		558		115		1991
Worcester, MA		498		330			322		506		828		261		1985
Worcester, MA		979		7			636		350		986		195		1991
Accokeek, MD		692		—			692		—		692		—		2010
Baltimore, MD		802		—			—		802		802		392		2007
Baltimore, MD		2,259		—			722		1,537		2,259		701		2007
Beltsville, MD		525		—			525		—		525		—		2009
Beltsville, MD		731		—			731		—		731		—		2009
Beltsville, MD		1,050		—			1,050		—		1,050		—		2009
Beltsville, MD		1,130		—			1,130		—		1,130		—		2009
Bladensburg, MD		571		—			571		—		571		—		2009
Bowie, MD		1,084		—			1,084		—		1,084		—		2009
Capitol Heights, MD		628		—			628		—		628		—		2009
Clinton, MD		651		—			651		—		651		—		2009
College Park, MD		445		—			445		—		445		—		2009
College Park, MD		536		—			536		—		536		—		2009
District Heights, MD		388		—			388		—		388		—		2009
District Heights, MD		479		—			479		—		479		—		2009
Ellicott City, MD		895		—			—		895		895		460		2007
Emmitsburg, MD		147		191			102		236		338		154		1986
Forestville, MD		1,039		—			1,039		—		1,039		—		2009
Fort Washington, MD		422		—			422		—		422		—		2009
Greenbelt, MD		1,153		—			1,153		—		1,153		—		2009
Hyattsville, MD		491		—			491		—		491		—		2009
Hyattsville, MD		594		—			594		—		594		—		2009
Landover, MD		662		—			662		—		662		—		2009
Landover, MD		753		—			753		—		753		—		2009
Landover Hills, MD		457		—			457		—		457		—		2009
Landover Hills, MD		1,358		—			1,358		—		1,358		—		2009
Lanham, MD		822		—			822		—		822		—		2009
Laurel, MD		696		—			696		—		696		—		2009
Laurel, MD		1,210		—			1,210		—		1,210		—		2009
Laurel, MD		1,267		—			1,267		—		1,267		—		2009
Laurel, MD		1,415		—			1,415		—		1,415		—		2009
Laurel, MD		1,530		—			1,530		—		1,530		—		2009
Laurel, MD		2,523		—			2,523		—		2,523		—		2009
Oxon Hill, MD		1,256		—			1,256		—		1,256		—		2009
Riverdale, MD		582		—			582		—		582		—		2009
Riverdale, MD		788		—			788		—		788		—		2009
Seat Pleasant, MD		468		—			468		—		468		—		2009
Suitland, MD		377		—			377		—		377		—		2009
Suitland, MD		673		—			673		—		673		—		2009
Temple Hills, MD		331		—			331		—		331		—		2009
Upper Marlboro, MD		845		—			845		—		845		—		2009
Biddeford, ME		618		8			235		391		626		391		1985
Lewiston, ME		342		188			222		308		530		200		1985
Kernersville, NC		449		—			338		111		449		102		2007
Madison, NC		396		—			46		350		396		185		2007
New Bern, NC		350		83			190		243		433		143		2007
Belfield, ND		1,232		—			382		850		1,232		727		2007
Allenstown, NH		1,787		—			467		1,320		1,787		670		2007
Concord, NH		675		—			675		—		675		—		2011
Concord, NH		900		—			900		—		900		—		2011
Derry, NH		418		17			158		277		435		275		1987
Derry, NH		950		—			950		—		950		—		2011
Dover, NH		650		—			650		—		650		—		2011
Dover, NH		1,200		—			1,200		—		1,200		—		2011
Goffstown, NH		1,737		—			697		1,040		1,737		327		2012
Hooksett, NH		1,562		—			824		738		1,562		651		2007
Kingston, NH		1,500		—			1,500		—		1,500		—		2011
Londonderry, NH		703		30			458		275		733		216		1985
Londonderry, NH		1,100		—			1,100		—		1,100		—		2011
Manchester, NH		550		—			550		—		550		—		2011
Milford, NH		190		147			115		222		337		138		1986
Nashua, NH		500		—			500		—		500		—		2011
Nashua, NH		550		—			550		—		550		—		2011
Nashua, NH		750		—			750		—		750		—		2011
Nashua, NH		825		—			825		—		825		—		2011
Nashua, NH		1,750		—			1,750		—		1,750		—		2011
Northwood, NH		500		—			500		—		500		—		2011
Pelham, NH		—		730			317		413		730		69		1996
Plaistow, NH		300		101			245		156		401		155		1987
Portsmouth, NH		525		—			525		—		525		—		2011
Raymond, NH		550		—			550		—		550		—		2011
Rochester, NH		700		—			700		—		700		—		2011
Rochester, NH		939		12			600		351		951		269		1985
Rochester, NH		1,400		—			1,400		—		1,400		—		2011
Rochester, NH		1,600		—			1,600		—		1,600		—		2011
Salem, NH		744		18			484		278		762		215		1985
Salem, NH		450		880			350		980		1,330		43		1986
Basking Ridge, NJ		362		287			200		449		649		221		1986
Bergenfield, NJ		382		331			300		413		713		166		1990
Brick, NJ		1,508		229			1,000		737		1,737		432		2000
Colonia, NJ		720		(297	)		72		351		423		264		1985
Elizabeth, NJ		406		62			227		241		468		149		1985
Flemington, NJ		708		(251	)		168		289		457		62		1985
Flemington, NJ		547		17			346		218		564		169		1985
Fort Lee, NJ		1,246		362			811		797		1,608		439		1985
Franklin Twp., NJ		683		195			445		433		878		305		1985
Freehold, NJ		494		370			95		769		864		121		1978
Green Village, NJ		277		76			128		225		353		191		1985
Hasbrouck Heights, NJ		641		440			416		665		1,081		350		1985
Hillsborough, NJ		237		487			100		624		724		251		1985
Irvington, NJ		411		(34	)		98		279		377		31		1985
Lake Hopatcong, NJ		1,305		—			800		505		1,305		412		2000
Livingston, NJ		871		294			568		597		1,165		314		1985
Long Branch, NJ		514		437			335		616		951		228		1985
Mcafee, NJ		672		268			437		503		940		240		1985
Midland Park, NJ		200		333			150		383		533		181		1989
Mountainside, NJ		665		(172	)		134		359		493		84		1985
North Bergen, NJ		630		151			410		371		781		265		1985
North Plainfield, NJ		227		576			175		628		803		386		1978
Nutley, NJ		434		199			283		350		633		194		1985
Paramus, NJ		382		68			249		201		450		131		1985
Parlin, NJ		418		157			203		372		575		84		1985
Paterson, NJ		620		16			403		233		636		181		1985
Ridgefield, NJ		55		280			33		302		335		112		1980
Ridgewood, NJ		703		386			458		631		1,089		304		1985
Somerville, NJ		253		124			201		176		377		84		1987
Trenton, NJ		1,303		—			1,146		157		1,303		39		2012
Union, NJ		437		316			239		514		753		103		1985
Washington Township, NJ		912		287			594		605		1,199		318		1985
Watchung, NJ		449		130			226		353		579		71		1985
West Orange, NJ		800		412			521		691		1,212		380		1985
Fernley, NV		1,665		—			221		1,444		1,665		162		2015
Naples, NY		1,257		—			827		430		1,257		186		2006
Perry, NY		1,444		—			1,044		400		1,444		173		2006
Prattsburg, NY		553		—			303		250		553		108		2006
Rochester, NY		853		—			303		550		853		238		2006
Alfred Station, NY		714		—			414		300		714		130		2006
Amherst, NY		222		247			173		296		469		90		2000
Astoria, NY		1,684		—			1,105		579		1,684		122		2013
Avoca, NY		936		(1	)		635		300		935		130		2006
Batavia, NY		684		—			364		320		684		139		2006
Bay Shore, NY		156		356			86		426		512		240		1981
Bayside, NY		470		261			306		425		731		171		1985
Bellaire, NY		330		37			215		152		367		125		1985
Brewster, NY		789		—			789		—		789		—		2011
Briarcliff Manor, NY		652		606			502		756		1,258		418		1976
Bronx, NY		104		226			90		240		330		233		1985
Bronx, NY		423		—			423		—		423		—		2013
Bronx, NY		391		53			251		193		444		160		1985
Bronx, NY		877		—			877		—		877		—		2013
Bronx, NY		884		—			884		—		884		—		2013
Bronx, NY		953		—			953		—		953		—		2013
Bronx, NY		1,049		—			485		564		1,049		119		2013
Bronx, NY		1,910		—			1,349		561		1,910		124		2013
Bronx, NY		2,408		—			1,712		696		2,408		138		2013
Bronxville, NY		1,232		—			1,232		—		1,232		—		2011
Brooklyn, NY		—		396			—		396		396		195		1970
Brooklyn, NY		100		345			67		378		445		177		1972
Brooklyn, NY		75		384			31		428		459		210		1967
Brooklyn, NY		148		394			104		438		542		238		1972
Brooklyn, NY		237		382			154		465		619		156		1985
Brooklyn, NY		282		457			176		563		739		362		1967
Brooklyn, NY		422		334			275		481		756		249		1985
Brooklyn, NY		478		318			306		490		796		254		1985
Brooklyn, NY		627		313			408		532		940		273		1985
Buffalo, NY		312		242			151		403		554		168		2000
Byron, NY		969		—			669		300		969		130		2006
Chester, NY		1,158		—			1,158		—		1,158		—		2011
Churchville, NY		1,011		—			601		410		1,011		178		2006
Commack, NY		321		26			209		138		347		110		1985
Corona, NY		114		301			113		302		415		302		1965
Corona, NY		2,543		—			1,903		640		2,543		129		2013
Cortland Manor, NY		1,872		—			1,872		—		1,872		—		2011
Dobbs Ferry, NY		670		34			434		270		704		213		1985
Dobbs Ferry, NY		1,345		—			1,345		—		1,345		—		2011
East Hampton, NY		660		39			428		271		699		214		1985
East Islip, NY		89		549			87		551		638		259		1972
East Pembroke, NY		787		—			537		250		787		108		2006
Eastchester, NY		1,724		—			1,724		—		1,724		—		2011
Elmont, NY		389		319			231		477		708		286		1978
Elmsford, NY		—		1,012			581		431		1,012		196		1971
Elmsford, NY		1,453		—			1,453		—		1,453		—		2011
Fishkill, NY		1,793		—			1,793		—		1,793		—		2011
Floral Park, NY		617		175			356		436		792		219		1998
Flushing, NY		516		241			320		437		757		193		1998
Flushing, NY		1,936		—			1,413		523		1,936		110		2013
Flushing, NY		1,947		—			1,405		542		1,947		105		2013
Flushing, NY		2,478		—			1,801		677		2,478		131		2013
Forrest Hill, NY		1,273		—			1,273		—		1,273		—		2013
Franklin Square, NY		153		331			137		347		484		146		1978
Friendship, NY		393		—			43		350		393		152		2006
Garden City, NY		361		243			236		368		604		155		1985
Garnerville, NY		1,508		—			1,508		—		1,508		—		2011
Glen Head, NY		234		219			103		350		453		347		1982
Glen Head, NY		461		284			301		444		745		215		1985
Glendale, NY		369		280			236		413		649		186		1985
Great Neck, NY		500		252			450		302		752		120		1985
Greigsville, NY		1,018		—			203		815		1,018		449		2008
Hartsdale, NY		1,626		—			1,626		—		1,626		—		2011
Hawthorne, NY		2,084		—			2,084		—		2,084		—		2011
Hopewell Junction, NY		1,163		—			1,163		—		1,163		—		2011
Huntington Station, NY		141		284			84		341		425		155		1978
Hyde Park, NY		990		—			990		—		990		—		2011
Katonah, NY		1,084		—			1,084		—		1,084		—		2011
Lagrangeville, NY		130		1,043			64		1,109		1,173		382		1972
Lakeville, NY		1,028		—			203		825		1,028		458		2008
Levittown, NY		503		42			327		218		545		175		1985
Levittown, NY		546		87			356		277		633		210		1985
Long Island City, NY		2,717		—			1,183		1,534		2,717		269		2013
Mamaroneck, NY		1,429		—			1,429		—		1,429		—		2011
Massapequa, NY		333		285			217		401		618		168		1985
Mastic, NY		313		110			204		219		423		193		1985
Middletown, NY		719		—			719		—		719		—		2011
Middletown, NY		751		274			489		536		1,025		279		1985
Middletown, NY		1,281		—			1,281		—		1,281		—		2011
Millwood, NY		1,448		—			1,448		—		1,448		—		2011
Mount Kisco, NY		1,907		—			1,907		—		1,907		—		2011
Mount Vernon, NY		985		—			985		—		985		—		2011
Nanuet, NY		2,316		—			2,316		—		2,316		—		2011
New Paltz, NY		971		—			971		—		971		—		2011
New Rochelle, NY		188		344			104		428		532		176		1982
New Rochelle, NY		1,887		—			1,887		—		1,887		—		2011
New Windsor, NY		1,084		—			1,084		—		1,084		—		2011
New York, NY		126		399			78		447		525		263		1972
Newburgh, NY		527		—			527		—		527		—		2011
Newburgh, NY		1,192		—			1,192		—		1,192		—		2011
Niskayuna, NY		425		35			275		185		460		185		1986
North Lindenhurst, NY		295		243			192		346		538		145		1998
Ossining, NY		71		300			43		328		371		138		1977
Ossining, NY		231		219			117		333		450		108		1985
Ozone Park, NY		57		367			45		379		424		178		1976
Peekskill, NY		2,207		—			2,207		—		2,207		—		2011
Pelham, NY		1,035		—			1,035		—		1,035		—		2011
Pelham Manor, NY		137		307			75		369		444		183		1985
Pleasant Valley, NY		398		62			240		220		460		204		1986
Port Chester, NY		941		—			—		941		941		332		2011
Port Chester, NY		1,015		—			1,015		—		1,015		—		2011
Port Jefferson, NY		387		294			246		435		681		215		1985
Poughkeepsie, NY		591		—			591		—		591		—		2011
Poughkeepsie, NY		1,020		—			1,020		—		1,020		—		2011
Poughkeepsie, NY		1,231		(31	)		1,200		—		1,200		—		2011
Poughkeepsie, NY		1,306		—			1,306		—		1,306		—		2011
Poughkeepsie, NY		1,340		—			1,340		—		1,340		—		2011
Poughkeepsie, NY		1,355		—			1,355		—		1,355		—		2011
Rego Park, NY		2,783		—			2,104		679		2,783		138		2013
Riverhead, NY		724		—			432		292		724		216		1998
Rochester, NY		559		—			159		400		559		173		2006
Rochester, NY		595		—			305		290		595		119		2008
Rockaway Beach, NY		111		277			79		309		388		125		1972
Rockville Centre, NY		350		66			201		215		416		189		1985
Rokaway Park, NY		1,605		—			1,605		—		1,605		—		2013
Rye, NY		872		—			872		—		872		—		2011
Sag Harbor, NY		704		35			458		281		739		221		1985
Savona, NY		1,314		—			964		350		1,314		152		2006
Sayville, NY		345		245			300		290		590		82		1998
Scarsdale, NY		1,301		—			1,301		—		1,301		—		2011
Shrub Oak, NY		1,061		508			691		878		1,569		491		1985
Sleepy Hollow, NY		281		332			130		483		613		348		1969
Smithtown, NY		88		287			51		324		375		135		1977
Spring Valley, NY		749		—			749		—		749		—		2011
St. Albans, NY		330		106			215		221		436		166		1985
Staten Island, NY		357		35			230		162		392		132		1985
Staten Island, NY		389		90			254		225		479		192		1985
Staten Island, NY		301		328			196		433		629		207		1985
Staten Island, NY		350		290			228		412		640		185		1985
Stony Brook, NY		176		281			105		352		457		163		1978
Tarrytown, NY		956		—			956		—		956		—		2011
Tuchahoe, NY		1,650		—			1,650		—		1,650		—		2011
Wantagh, NY		640		—			370		270		640		198		1998
Wappingers Falls, NY		452		—			—		452		452		242		2011
Wappingers Falls, NY		1,488		—			1,488		—		1,488		—		2011
Warsaw, NY		990		—			690		300		990		130		2006
Warwick, NY		1,049		—			1,049		—		1,049		—		2011
West Nyack, NY		936		—			936		—		936		—		2011
West Taghkanic, NY		203		442			122		523		645		305		1986
White Plains, NY		—		569			303		266		569		181		1972
White Plains, NY		1,458		—			1,458		—		1,458		—		2011
Yaphank, NY		—		798			375		423		798		103		1993
Yonkers, NY		—		610			—		610		610		251		1970
Yonkers, NY		—		1,040			780		260		1,040		81		1990
Yonkers, NY		1,020		64			665		419		1,084		332		1985
Yonkers, NY		291		1,052			216		1,127		1,343		364		1972
Yonkers, NY		1,907		—			1,907		—		1,907		—		2011
Yorktown Heights, NY		1,700		—			—		1,700		1,700		47		2013
Yorktown Heights, NY		2,365		—			2,365		—		2,365		—		2011
Crestline, OH		1,202		—			285		917		1,202		376		2008
Mansfield, OH		922		—			332		590		922		227		2008
Mansfield, OH		1,950		—			700		1,250		1,950		468		2009
Monroeville, OH		2,580		—			485		2,095		2,580		763		2009
Banks, OR		498		—			498		—		498		—		2015
Estacada, OR		646		—			84		562		646		48		2015
Pendleton, OR		766		—			122		644		766		61		2015
Portland, OR		4,416		—			3,368		1,048		4,416		94		2015
Salem, OR		1,071		—			399		672		1,071		77		2015
Salem, OR		1,350		—			521		829		1,350		76		2015
Salem, OR		1,408		—			524		884		1,408		84		2015
Salem, OR		4,215		—			3,182		1,033		4,215		100		2015
Salem, OR		4,614		—			3,517		1,097		4,614		99		2015
Springfield, OR		1,398		—			796		602		1,398		67		2015
Allentown, PA		358		31			233		156		389		125		1985
Allison Park, PA		1,500		—			850		650		1,500		343		2010
Harrisburg, PA		399		213			199		413		612		313		1989
Havertown, PA		402		63			254		211		465		146		1985
Lancaster, PA		643		17			300		360		660		360		1989
New Holland, PA		313		24			143		194		337		185		1989
New Kensington, PA		1,375		—			675		700		1,375		207		2010
New Oxford, PA		1,045		(75	)		181		789		970		777		1996
Philadelphia, PA		406		175			264		317		581		244		1985
Philadelphia, PA		1,252		—			814		438		1,252		139		2009
Pottsville, PA		451		2			148		305		453		304		1990
Reading, PA		750		49			—		799		799		799		1989
Ashaway, RI		619		—			402		217		619		105		2004
Barrington, RI		490		180			319		351		670		233		1985
East Providence, RI		2,298		(1,687	)		89		522		611		—		1985
N. Providence, RI		542		159			353		348		701		219		1985
Austin, TX		462		—			274		188		462		119		2007
Austin, TX		2,368		—			738		1,630		2,368		730		2007
Austin, TX		3,511		—			1,595		1,916		3,511		868		2007
Bedford, TX		353		—			113		240		353		164		2007
Ft Worth, TX		2,115		—			866		1,249		2,115		633		2007
Garland, TX		3,296		—			245		3,051		3,296		286		2014
Garland, TX		4,439		—			439		4,000		4,439		392		2014
Harker Heights, TX		2,051		(9	)		579		1,463		2,042		1,081		2007
Houston, TX		1,689		—			224		1,465		1,689		623		2007
Houston, TX		2,803		—			535		2,268		2,803		17		2016
Keller, TX		2,507		—			996		1,511		2,507		719		2007
Lewisville, TX		494		—			110		384		494		204		2008
Midlothian, TX		429		—			72		357		429		208		2007
Port Arthur, TX		2,648		—			505		2,143		2,648		17		2016
San Marcos, TX		1,954		—			251		1,703		1,954		745		2007
Temple, TX		2,406		(11	)		1,205		1,190		2,395		580		2007
The Colony, TX		4,396		—			337		4,059		4,396		1,675		2007
Waco, TX		3,884		—			894		2,990		3,884		1,465		2007
Alexandria, VA		649		—			649		—		649		—		2013
Alexandria, VA		656		—			409		247		656		56		2013
Alexandria, VA		712		—			712		—		712		—		2013
Alexandria, VA		735		—			735		—		735		—		2013
Alexandria, VA		1,327		—			1,327		—		1,327		—		2013
Alexandria, VA		1,388		—			1,020		368		1,388		85		2013
Alexandria, VA		1,582		—			1,150		432		1,582		91		2013
Alexandria, VA		1,757		—			1,313		444		1,757		99		2013
Annandale, VA		1,718		—			1,718		—		1,718		—		2013
Arlington, VA		1,083		—			1,083		—		1,083		—		2013
Arlington, VA		1,464		—			1,085		379		1,464		81		2013
Arlington, VA		2,014		—			1,516		498		2,014		104		2013
Arlington, VA		2,062		—			1,603		459		2,062		95		2013
Ashland, VA		840		—			840		—		840		—		2005
Chesapeake, VA		780		(186	)		398		196		594		48		1990
Chesapeake, VA		1,004		110			385		729		1,114		647		1990
Fairfax, VA		1,825		—			1,190		635		1,825		132		2013
Fairfax, VA		2,078		—			1,365		713		2,078		128		2013
Fairfax, VA		3,348		—			2,351		997		3,348		195		2013
Fairfax, VA		4,454		—			3,370		1,084		4,454		213		2013
Farmville, VA		1,227		—			622		605		1,227		285		2005
Fredericksburg, VA		1,279		—			469		810		1,279		381		2005
Fredericksburg, VA		1,289		24			798		515		1,313		247		2005
Fredericksburg, VA		1,716		—			996		720		1,716		339		2005
Fredericksburg, VA		3,623		—			2,828		795		3,623		374		2005
Glen Allen, VA		1,037		—			412		625		1,037		294		2005
Glen Allen, VA		1,077		—			322		755		1,077		355		2005
King William, VA		1,688		—			1,068		620		1,688		292		2005
Mechanicsville, VA		903		—			273		630		903		296		2005
Mechanicsville, VA		957		—			324		633		957		323		2005
Mechanicsville, VA		1,043		—			223		820		1,043		386		2005
Mechanicsville, VA		1,125		—			505		620		1,125		292		2005
Mechanicsville, VA		1,476		—			876		600		1,476		282		2005
Mechanicsville, VA		1,677		—			1,157		520		1,677		245		2005
Montpelier, VA		2,481		(114	)		1,612		755		2,367		355		2005
Norfolk, VA		535		6			311		230		541		230		1990
Petersburg, VA		1,441		—			816		625		1,441		294		2005
Portsmouth, VA		562		34			222		374		596		363		1990
Richmond, VA		1,132		(41	)		506		585		1,091		275		2005
Ruther Glen, VA		466		—			31		435		466		205		2005
Sandston, VA		722		—			102		620		722		292		2005
Spotsylvania, VA		1,290		—			490		800		1,290		376		2005
Springfield, VA		4,257		—			2,969		1,288		4,257		250		2013
Auburn, WA		3,022		—			1,965		1,057		3,022		99		2015
Bellevue, WA		1,725		—			886		839		1,725		79		2015
Chehalis, WA		1,176		—			313		863		1,176		89		2015
Colfax, WA		4,800		—			3,611		1,189		4,800		112		2015
Federal Way, WA		4,218		—			2,973		1,245		4,218		126		2015
Fife, WA		1,181		—			414		767		1,181		78		2015
Kent, WA		2,900		—			2,066		834		2,900		85		2015
Monroe, WA		2,792		—			1,556		1,236		2,792		119		2015
Port Orchard, WA		2,019		—			161		1,858		2,019		149		2015
Puyallup, WA		831		—			172		659		831		72		2015
Puyallup, WA		2,035		—			465		1,570		2,035		145		2015
Puyallup, WA		4,050		—			2,394		1,656		4,050		190		2015
Renton, WA		1,485		—			952		533		1,485		68		2015
Seattle, WA		346		—			346		—		346		—		2015
Seattle, WA		717		—			193		524		717		47		2015
Seattle, WA		1,884		—			1,223		661		1,884		60		2015
Silverdale, WA		2,178		—			1,217		961		2,178		97		2015
Snohomish, WA		955		—			955		—		955		—		2015
South Bend, WA		760		—			121		639		760		56		2015
Spokane, WA		346		—			346		—		346		—		2015
Tacoma, WA		518		—			518		—		518		—		2015
Tacoma, WA		671		—			671		—		671		—		2015
Tenino, WA		937		—			219		718		937		64		2015
Vancouver, WA		1,214		—			163		1,051		1,214		84		2015
Wilbur, WA		629		—			153		476		629		47		2015
Miscellaneous		32,937		11,470			14,749		29,658		44,407		19,388		various
	$	720,099	$	62,067		$	474,232	$	307,934	$	782,166	$	120,576

1) Initial cost of leasehold or acquisition investment to company represents the aggregate of the cost incurred during the year in which we purchased the property for owned properties or purchased a leasehold interest in leased properties. Cost capitalized subsequent to initial investment includes investments made in previously leased properties prior to their acquisition.

2) Depreciation of real estate is computed on the straight-line method based upon the estimated useful lives of the assets, which generally range from 16 to 25 years for buildings and improvements, or the term of the lease if shorter. Leasehold interests are amortized over the remaining term of the underlying lease.

3) The aggregate cost for federal income tax purposes was approximately $617,464,000 at December 31, 2016.

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SCHEDULE IV - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2016

Mortgage Loans on Real Estate [Abstract]

SCHEDULE IV - Mortgage Loans on Real Estate

GETTY REALTY CORP. and SUBSIDIARIES

SCHEDULE IV—MORTGAGE LOANS ON REAL ESTATE

As of December 31, 2016

(in thousands)

Type of Loan/Borrower	Description		Location(s)	Interest Rate			Final Maturity Date		Periodic Payment Terms (a)			Prior Liens		Face Value at Inception		Amount of Principal Unpaid at Close of Period
Mortgage Loans:
Borrower A		Seller financing	Horsham, PA		10.0	%		7/2024		P & I			—	$	237	$	146
Borrower B		Seller financing	Green Island, NY		11.0	%		8/2018		P & I			—		298		75
Borrower C		Seller financing	Concord, NH		9.5	%		8/2028		P & I			—		210		165
Borrower D		Seller financing	Irvington, NJ		10.0	%		7/2022		P & I			—		300		202
Borrower E		Seller financing	Kernersville/Lexington, NC		8.0	%		7/2026		P & I			—		568		291
Borrower F		Seller financing	Wantagh, NY		9.0	%		5/2032		P & I			—		455		409
Borrower G		Seller financing	Fullerton Hts, MD		9.0	%		5/2019		P & I			—		225		35
Borrower H		Seller financing	Springfield, MA		9.0	%		7/2019		P & I			—		131		108
Borrower I		Seller financing	E. Patchogue, NY		9.0	%		8/2019		P & I			—		200		181
Borrower J		Seller financing	Union City, NJ		9.0	%		9/2019		P & I			—		800		740
Borrower K		Seller financing	Bronx, NY		9.0	%		12/2019		P & I			—		240		121
Borrower L		Seller financing	Seaford, NY		9.0	%		1/2020		P & I			—		488		446
Borrower M		Seller financing	Spotswood, NJ		9.0	%		1/2020		P & I			—		306		280
Borrower N		Seller financing	Freeport, NY		9.0	%		5/2020		P & I			—		206		191
Borrower O		Seller financing	Pleasant Valley, NY		9.0	%		9/2020		P & I			—		230		214
Borrower P		Seller financing	Fairhaven, MA		9.0	%		9/2020		P & I			—		458		427
Borrower Q		Seller financing	Baldwin, NY		9.0	%		9/2020		P & I			—		300		282
Borrower R		Seller financing	Leicester, MA		9.0	%		10/2020		P & I			—		268		251
Borrower S		Seller financing	Valley Cottage, NY		9.0	%		10/2020		P & I			—		431		403
Borrower T		Seller financing	Ephrata, PA		9.0	%		10/2020		P & I			—		265		247
Borrower U		Seller financing	Piscataway, NJ		9.0	%		11/2020		P & I			—		121		103
Borrower V		Seller financing	Westfield, MA		9.0	%		11/2020		P & I			—		165		155
Borrower W		Seller financing	Wilmington, DE		9.0	%		11/2020		P & I			—		84		79
Borrower X		Seller financing	Gettysburg, PA		9.0	%		11/2020		P & I			—		69		64
Borrower Y		Seller financing	Kenmore, NY		9.0	%		12/2020		P & I			—		74		70
Borrower Z		Seller financing	Stafford Springs, CT		9.0	%		1/2021		P & I			—		232		218
Borrower AA		Seller financing	Latham, NY		9.0	%		1/2021		P & I			—		169		159
Borrower AB		Seller financing	Magnolia, NJ		9.0	%		6/2020		P & I			—		53		49
Borrower AC		Seller financing	Colonia, NJ		9.0	%		7/2020		P & I			—		320		297
Borrower AD		Seller financing	Jersey City, NJ		9.0	%		7/2018		P & I			—		500		464
Borrower AE		Seller financing	Elmont, NY		9.0	%		10/2021		P & I			—		450		384
Borrower AF		Seller financing	Leola, PA		9.0	%		3/2020		P & I			—		220		202
Borrower AG		Seller financing	Lititz/Rothsville, PA		9.0	%		3/2020		P & I			—		180		166
Borrower AH		Seller financing	Bayonne, NJ		9.0	%		3/2020		P & I			—		308		283
Borrower AI		Seller financing	Ballston, NY		9.0	%		5/2020		P & I			—		225		208
Borrower AJ		Seller financing	Waterbury, CT		9.0	%		2/2021		P & I			—		171		161
Borrower AK		Seller financing	White Plains, NY		9.0	%		2/2021		P & I			—		444		418
Borrower AL		Seller financing	Scarsdale, NY		9.0	%		11/2025		P & I			—		337		317
Borrower AM		Seller financing	York, PA		9.0	%		2/2021		P & I			—		102		96
Borrower AN		Seller financing	Bristol, CT		9.0	%		3/2021		P & I			—		230		217
Borrower AO		Seller financing	Belleville, NJ		9.0	%		3/2021		P & I			—		315		297
Borrower AP		Seller financing	Southbridge, MA		9.0	%		3/2021		P & I			—		300		283
Borrower AQ		Seller financing	Ridgefield, NJ		9.0	%		4/2021		P & I			—		172		163
Borrower AR		Seller financing	Glenville, NY		9.0	%		4/2021		P & I			—		325		308
Borrower AS		Seller financing	Great Barrington, MA		9.0	%		4/2021		P & I			—		58		55
Borrower AT		Seller financing	Rockland, MA		9.0	%		4/2021		P & I			—		134		127
Borrower AU		Seller financing	Williamstown, NJ		9.0	%		4/2021		P & I			—		42		40
Borrower AV		Seller financing	Belford, NJ		9.0	%		4/2021		P & I			—		134		127
Borrower AW		Seller financing	Swedesboro, NJ		9.0	%		4/2021		P & I			—		77		72
Borrower AX		Seller financing	Hatboro, PA		9.0	%		4/2021		P & I			—		84		80
Borrower AY		Seller financing	Middlesex, NJ		9.0	%		5/2021		P & I			—		255		242
Borrower AZ		Seller financing	Coxsackie, NY		9.0	%		7/2021		P & I			—		153		146
Borrower BA		Seller financing	Newburgh, NY		9.0	%		9/2021		P & I			—		394		376
Borrower BB		Seller financing	Providence, RI		9.0	%		9/2021		P & I			—		184		175
Borrower BC		Seller financing	Warwick, RI		9.0	%		10/2021		P & I			—		357		342
Borrower BD		Seller financing	New Bedford, MA		9.0	%		10/2021		P & I			—		363		347
Borrower BE		Seller financing	Fitchburg, MA		9.0	%		10/2021		P & I			—		187		179
Borrower BF		Seller financing	Queensbury, NY		9.0	%		11/2021		P & I			—		176		169
Borrower BG		Seller financing	Worcester, MA		9.0	%		11/2021		P & I			—		237		227
Borrower BH		Seller financing	Westfield, MA		9.0	%		11/2021		P & I			—		303		291
Borrower BI		Seller financing	S. Yarmouth, MA		9.0	%		1/2022		P & I			—		275		265
Borrower BJ		Seller financing	Harwich Port, MA		9.0	%		1/2022		P & I			—		293		282
Borrower BK		Seller financing	Nyack, NY		9.0	%		9/2022		P & I			—		253		248
Borrower BL		Seller financing	Norwalk, CT		9.0	%		4/2022		P & I			—		319		308
Borrower BM		Seller financing	Hadley, MA		9.0	%		7/2022		P & I			—		78		75
Borrower BN		Seller financing	Clinton, MA		9.0	%		3/2022		P & I			—		158		140
Borrower BO		Seller financing	Worcester, MA		9.0	%		2/2022		P & I			—		210		202
Borrower BP		Seller financing	Pelham, NH		9.0	%		01/2023		P & I			—		73		71
Borrower BQ		Seller financing	Brewster, NY		9.0	%		10/2022		P & I			—		554		542
Borrower BR		Seller financing	Brewster, NY		9.0	%		8/2022		P & I			—		333		324
Borrower BS		Seller financing	Cranston, RI		9.0	%		8/2022		P & I			—		153		149
Borrower BT		Seller financing	Pawtucket, RI		9.0	%		1/2023		P & I			—		31		30
Borrower BU		Seller financing	E. Providence, RI		9.0	%		2/2022		P & I			—		186		179
Borrower BV		Seller financing	McConnellsburg, PA		9.0	%		1/2023		P & I			—		38		38
Borrower BW		Seller financing	Billerica, MA		9.0	%		03/2023		P & I			—		98		96
Borrower BX		Seller financing	Oxford, MA		9.0	%		03/2023		P & I			—		86		84
Borrower BY		Seller financing	Colonie, NY		9.0	%		08/2023		P & I			—		143		142
Borrower BZ		Seller financing	Malta, NY		9.0	%		03/2023		P & I			—		572		564
Borrower CA		Seller financing	Cairo, NY		9.0	%		08/2023		P & I			—		113		112
Borrower CB		Seller financing	Central Islip, NY		9.0	%		06/2023		P & I			—		780		773
Borrower CC		Seller financing	Pottsville, PA		9.0	%		03/2023		P & I			—		23		23
															20,089		18,017
Note receivable
		Purchase/leaseback	Various-NY		9.5	%		1/2021		I	(b)				18,400		14,720
Total (c)														$	38,489	$	32,737

(a) P & I = Principal and interest paid monthly.

(b) I = Interest only paid monthly with principal deferred.

(c) The aggregate cost for federal income tax purposes approximates the amount of principal unpaid.

We review payment status to identify performing versus non-performing loans. Interest income on performing loans is accrued as earned. A non-performing loan is placed on non-accrual status when it is probable that the borrower may be unable to meet interest payments as they become due. Generally, loans 90 days or more past due are placed on non-accrual status unless there is sufficient collateral to assure collectability of principal and interest. Upon the designation of non-accrual status, all unpaid accrued interest is reserved against through current income. Interest income on non-performing loans is generally recognized on a cash basis. The summarized changes in the carrying amount of mortgage loans are as follows:

	2016			2015			2014
Balance at January 1,	$	48,455		$	34,226		$	28,793
Additions:
New mortgage loans		1,814			17,876			8,278
Deductions:
Loan repayments		(16,714	)		(2,883	)		(2,294	)
Collection of principal		(818	)		(764	)		(489	)
Write-off of loan balance		—			—			(62	)
Balance at December 31,	$	32,737		$	48,455		$	34,226

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The consolidated financial statements include the accounts of Getty Realty Corp. and its wholly-owned subsidiaries. The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). We do not distinguish our principal business or our operations on a geographical basis for purposes of measuring performance. We manage and evaluate our operations as a single segment. All significant intercompany accounts and transactions have been eliminated.

Use of Estimates, Judgments and Assumptions

Use of Estimates, Judgments and Assumptions

The consolidated financial statements have been prepared in conformity with GAAP, which requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and revenues and expenses during the period reported. Estimates, judgments and assumptions underlying the accompanying consolidated financial statements include, but are not limited to, real estate, receivables, deferred rent receivable, direct financing leases, depreciation and amortization, impairment of long-lived assets, environmental remediation costs, environmental remediation obligations, litigation, accrued liabilities, income taxes and the allocation of the purchase price of properties acquired to the assets acquired and liabilities assumed. Application of these estimates and assumptions requires exercise of judgment as to future uncertainties and, as a result, actual results could differ materially from these estimates.

Reclassifications

Reclassifications

Beginning in 2016 Tenant reimbursements, which were previously included in Revenue from rental properties, were excluded from Revenue from rental properties. Certain other amounts in prior years’ financial statements have been reclassified to conform to the presentation used in the year ended December 31, 2016.

Real Estate

Real Estate

Real estate assets are stated at cost less accumulated depreciation and amortization. Upon acquisition of real estate and leasehold interests, we estimate the fair value of acquired tangible assets (consisting of land, buildings and improvements) “as if vacant” and identified intangible assets and liabilities (consisting of leasehold interests, above-market and below-market leases, in-place leases and tenant relationships) and assumed debt. Based on these estimates, we allocate the estimated fair value to the applicable assets and liabilities. Fair value is determined based on an exit price approach, which contemplates the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We expense transaction costs associated with business combinations in the period incurred. See Note 12 for additional information regarding property acquisitions.

We capitalize direct costs, including costs such as construction costs and professional services, and indirect costs associated with the development and construction of real estate assets while substantive activities are ongoing to prepare the assets for their intended use. The capitalization period begins when development activities are underway and ends when it is determined that the asset is substantially complete and ready for its intended use.

When real estate assets are sold or retired, the cost and related accumulated depreciation and amortization is eliminated from the respective accounts and any gain or loss is credited or charged to income. We evaluate real estate sale transactions where we provide seller financing to determine sale and gain recognition in accordance with GAAP. Expenditures for maintenance and repairs are charged to income when incurred.

Depreciation and Amortization

Depreciation and Amortization

Depreciation of real estate is computed on the straight-line method based upon the estimated useful lives of the assets, which generally range from 16 to 25 years for buildings and improvements, or the term of the lease if shorter. Asset retirement costs are depreciated over the shorter of the remaining useful lives of USTs or ten years for asset retirement costs related to environmental remediation obligations, which costs are attributable to the group of assets identified at a property. Leasehold interests and in-place leases are amortized over the remaining term of the underlying lease.

Direct Financing Leases

Direct Financing Leases

Income under direct financing leases is included in revenues from rental properties and is recognized over the lease terms using the effective interest rate method which produces a constant periodic rate of return on the net investments in the leased properties. The investments in direct financing leases are increased for interest income earned and amortized over the life of the leases and reduced by the receipt of lease payments. We consider direct financing leases to be past-due or delinquent when a contractually required payment is not remitted in accordance with the provisions of the underlying agreement. We evaluate each account individually and set up an allowance when, based upon current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms, and the amount can be reasonably estimated.

We review our direct financing leases at least annually to determine whether there has been an-other-than-temporary decline in the current estimate of residual value of the property. The residual value is our estimate of what we could realize upon the sale of the property at the end of the lease term, based on market information and third-party estimates where available. If this review indicates that a decline in residual value has occurred that is other-than-temporary, we recognize an impairment charge. There were no impairments of any of our direct financing leases during the years ended December 31, 2016 and 2015.

When we enter into a contract to sell properties that are recorded as direct financing leases, we evaluate whether we believe it is probable that the disposition will occur. If we determine that the disposition is probable and therefore the property’s holding period is reduced, we record an allowance for credit losses to reflect the change in the estimate of the undiscounted future rents. Accordingly, the net investment balance is written down to fair value.

Notes and Mortgages Receivable

Notes and Mortgages Receivable

Notes and mortgages receivable consists of loans originated by us in conjunction with property dispositions and funding provided to tenants in conjunction with property acquisitions. Notes and mortgages receivable are recorded at stated principal amounts. We evaluate the collectability of both interest and principal on each loan to determine whether it is impaired. A loan is considered to be impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due under the existing contractual terms. When a loan is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the fair value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the underlying collateral, if the loan is collateralized. Interest income on performing loans is accrued as earned. Interest income on impaired loans is recognized on a cash basis. We do not provide for an additional allowance for loan losses based on the grouping of loans as we believe the characteristics of the loans are not sufficiently similar to allow an evaluation of these loans as a group for a possible loan loss allowance. As such, all of our loans are evaluated individually for impairment purposes. There were no impairments related to our notes and mortgages receivable during the years ended December 31, 2016 and 2015.

Cash and Cash Equivalents

Cash and Cash Equivalents

We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Our cash and cash equivalents are held in the custody of financial institutions, and these balances, at times, exceed federally insurable limits.

Restricted Cash

Restricted Cash

Restricted cash consists of cash that is contractually restricted or held in escrow pursuant to various agreements with counterparties. At December 31, 2016, restricted cash of $671,000 consisted of security deposits received from our tenants. At December 31, 2015, restricted cash of $409,000 consisted of an escrow account established to guarantee our environmental remediation obligations at several of our properties.

Revenue Recognition and Deferred Rent Receivable

Revenue Recognition and Deferred Rent Receivable

Minimum lease payments from operating leases are recognized on a straight-line basis over the term of the leases. The cumulative difference between lease revenue recognized under this method and the contractual lease payment terms is recorded as deferred rent receivable on our consolidated balance sheets. We reserve for a portion of the recorded deferred rent receivable if circumstances indicate that it is not reasonable to assume that the tenant will make all of its contractual lease payments when due during the current term of the lease. We make estimates of the collectability of our accounts receivable related to revenue from rental properties. We analyze accounts receivable and historical bad debt levels, customer creditworthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. Additionally, with respect to tenants in bankruptcy, we estimate the expected recovery through bankruptcy claims and increase the allowance for amounts deemed uncollectible. If our assumptions regarding the collectability of accounts receivable prove incorrect, we could experience write-offs of the accounts receivable or deferred rent receivable in excess of our allowance for doubtful accounts.

The present value of the difference between the fair market rent and the contractual rent for above-market and below-market leases at the time properties are acquired is amortized into revenues from rental properties over the remaining terms of the in-place leases. Lease termination fees are recognized as other income when earned upon the termination of a tenant’s lease and relinquishment of space in which we have no further obligation to the tenant.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

Assets are written down to fair value when events and circumstances indicate that the assets might be impaired and the projected undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. Assets held for disposal are written down to fair value less estimated disposition costs.

We recorded impairment charges aggregating $12,814,000, $17,361,000 and $21,534,000 for the years ended December 31, 2016, 2015 and 2014, respectively, in continuing and discontinued operations. Our estimated fair values, as they relate to property carrying values were primarily based upon (i) estimated sales prices from third-party offers based on signed contracts, letters of intent or indicative bids, for which we do not have access to the unobservable inputs used to determine these estimated fair values, and/or consideration of the amount that currently would be required to replace the asset, as adjusted for obsolescence (this method was used to determine $3,041,000 of the $12,814,000 in impairments recognized during the year ended December 31, 2016) and (ii) discounted cash flow models (this method was used to determine $1,660,000 of the $12,814,000 in impairments recognized during the year ended December 31, 2016). During the year ended December 31, 2016, we recorded $8,113,000 of the $12,814,000 in impairments recognized due to the accumulation of asset retirement costs as a result of changes in estimates associated with our estimated environmental liabilities which increased the carrying value of certain properties in excess of their fair value.

The impairment charges recorded during the years ended December 31, 2016 and 2015, were attributable to the effect of adding asset retirement costs due to changes in estimates associated with our environmental liabilities, which increased the carrying value of certain properties in excess of their fair value, reductions in estimated undiscounted cash flows expected to be received during the assumed holding period for certain of our properties and reductions in estimated sales prices from third-party offers based on signed contracts, letters of intent or indicative bids for certain of our properties.

The estimated fair value of real estate is based on the price that would be received from the sale of the property in an orderly transaction between market participants at the measurement date. In general, we consider multiple internal valuation techniques when measuring the fair value of a property, all of which are based on unobservable inputs and assumptions that are classified within Level 3 of the Fair Value Hierarchy. These unobservable inputs include assumed holding periods ranging up to 15 years, assumed average rent increases of 2.0% annually, income capitalized at a rate of 8.0% and cash flows discounted at a rate of 7.0%. These assessments have a direct impact on our net income because recording an impairment loss results in an immediate negative adjustment to net income. The evaluation of anticipated cash flows is highly subjective and is based in part on assumptions regarding future rental rates and operating expenses that could differ materially from actual results in future periods. Where properties held for use have been identified as having a potential for sale, additional judgments are required related to the determination as to the appropriate period over which the projected undiscounted cash flows should include the operating cash flows and the amount included as the estimated residual value. This requires significant judgment. In some cases, the results of whether impairment is indicated are sensitive to changes in assumptions input into the estimates, including the holding period until expected sale.

Deferred Gain

Deferred Gain

On August 3, 2015, we terminated our unitary triple-net lease (the “Ramoco Lease”) with Hanuman Business, Inc. (d/b/a “Ramoco”), and sold to Ramoco affiliates 48 of the 61 properties that had been subject to the Ramoco Lease. The total consideration for the 48 properties we sold to Ramoco affiliates, including a seller financing mortgage of $13,900,000, was $15,000,000. In accordance with ASC 360-20, Property, Plant and Equipment—Real Estate Sales, we evaluated the accounting for the gain on sales of these assets, noting that the buyer’s initial investment did not represent the amount required for recognition of the gain by the full accrual method. Accordingly, we recorded a deferred gain of $3,900,000 related to the Ramoco sale. The deferred gain was recorded in accounts payable and accrued liabilities on our balance sheet at December 31, 2015. On April 28, 2016, Ramoco affiliates repaid the entire seller financing mortgage and, as a result, the deferred gain was recognized in our consolidated statements of operations for the year ended December 31, 2016.

Fair Value Hierarchy

Fair Value Hierarchy

The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates of fair value that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the consolidated financial statements and revenues and expenses during the period reported using a hierarchy (the “Fair Value Hierarchy”) that prioritizes the inputs to valuation techniques used to measure the fair value. The Fair Value Hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The levels of the Fair Value Hierarchy are as follows: “Level 1” – inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date; “Level 2” – inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active; and “Level 3” – inputs that are unobservable. Certain types of assets and liabilities are recorded at fair value either on a recurring or non-recurring basis. Assets required or elected to be marked-to-market and reported at fair value every reporting period are valued on a recurring basis. Other assets not required to be recorded at fair value every period may be recorded at fair value if a specific provision or other impairment is recorded within the period to mark the carrying value of the asset to market as of the reporting date. Such assets are valued on a non-recurring basis.

We have mutual fund assets that are measured at fair value on a recurring basis using Level 1 inputs. We have a Supplemental Retirement Plan for executives. The amounts held in trust under the Supplemental Retirement Plan using Level 2 inputs may be used to satisfy claims of general creditors in the event of our or any of our subsidiaries’ bankruptcy. We have liability to the executives participating in the Supplemental Retirement Plan for the participant account balances equal to the aggregate of the amount invested at the executives’ direction and the income earned in such mutual funds.

We have certain real estate assets that are measured at fair value on a non-recurring basis using Level 3 inputs as of December 31, 2016 and 2015, of $780,000 and $1,264,000, respectively, where impairment charges have been recorded. Due to the subjectivity inherent in the internal valuation techniques used in estimating fair value, the amounts realized from the sale of such assets may vary significantly from these estimates.

The following summarizes as of December 31, 2016, our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	565	$	—	$	—	$	565
Liabilities:
Deferred compensation	$	—	$	565	$	—	$	565

The following summarizes as of December 31, 2015, our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	888	$	—	$	—	$	888
Liabilities:
Deferred compensation	$	—	$	888	$	—	$	888

Fair Value Disclosure of Financial Instruments

Fair Value Disclosure of Financial Instruments

All of our financial instruments are reflected in the accompanying consolidated balance sheets at amounts which, in our estimation based upon an interpretation of available market information and valuation methodologies, reasonably approximate their fair values, except those separately disclosed in the notes to our consolidated financial statements.

Environmental Remediation Obligations

Environmental Remediation Obligations

We record the fair value of a liability for an environmental remediation obligation as an asset and liability when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. Environmental remediation obligations are estimated based on the level and impact of contamination at each property. The accrued liability is the aggregate of the best estimate of the fair value of cost for each component of the liability. The accrued liability is net of recoveries of environmental costs from state UST remediation funds with respect to both past and future environmental spending based on estimated recovery rates developed from prior experience with the funds. Net environmental liabilities are currently measured based on their expected future cash flows which have been adjusted for inflation and discounted to present value. We accrue for environmental liabilities that we believe are allocable to other potentially responsible parties if it becomes probable that the other parties will not pay their environmental remediation obligations.

Litigation

Litigation

Legal fees related to litigation are expensed as legal services are performed. We provide for litigation accruals, including certain litigation related to environmental matters, when it is probable that a liability has been incurred and a reasonable estimate of the liability can be made. If the estimate of the liability can only be identified as a range, and no amount within the range is a better estimate than any other amount, the minimum of the range is accrued for the liability. We accrue our share of environmental litigation liabilities based on our assumptions of the ultimate allocation method and share that will be used when determining our share of responsibility.

Income Taxes

Income Taxes

We and our subsidiaries file a consolidated federal income tax return. Effective January 1, 2001, we elected to qualify, and believe we are operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, we generally will not be subject to federal income tax on qualifying REIT income, provided that distributions to our shareholders equal at least the amount of our taxable income as defined under the Internal Revenue Code. We accrue for uncertain tax matters when appropriate. The accrual for uncertain tax positions is adjusted as circumstances change and as the uncertainties become more clearly defined, such as when audits are settled or exposures expire. Tax returns for the years 2013, 2014 and 2015, and tax returns which will be filed for the year ended 2016, remain open to examination by federal and state tax jurisdictions under the respective statute of limitations.

New Accounting Pronouncements

New Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. ASU 2014-09 was effective for the first interim period within annual reporting periods beginning after December 15, 2016, and early adoption was not permitted. On July 9, 2015, the FASB decided to delay the effective date of ASU 2014-09 by one year making it effective for the first interim period within annual reporting periods beginning after December 15, 2017. Early adoption is permitted as of the original effective date. We are currently evaluating this guidance and do not expect the adoption of ASU 2014-09 will have a material impact on our consolidated financial statements.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. ASU 2014-15 is effective for annual periods ending after December 15, 2016, including interim reporting periods thereafter. We adopted this guidance in 2016 and there was no impact to our consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. Lessor accounting will remain similar to lessor accounting under previous GAAP, while aligning with the FASB’s new revenue recognition guidance. ASU 2016-02 is effective for the Company beginning January 1, 2019. Early adoption of ASU 2016-02 is permitted. The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. We are currently evaluating the impact the adoption of ASU 2016-02 will have on our consolidated financial statements.

On March 30, 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which amends the current stock compensation guidance. The amendments simplify the accounting for taxes related to stock based compensation, including adjustments as to how excess tax benefits and a company’s payments for tax withholdings should be classified. The standard is effective for fiscal periods beginning after December 15, 2016, with early adoption permitted. The adoption of ASU 2016-09 will not have an impact on our consolidated financial statements.

On May 9, 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”), which clarifies and provides practical expedients for certain aspects of ASU 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities may elect to adopt the amendments as of the original effective date; however, adoption is required for annual reporting periods beginning after December 15, 2017. We are currently evaluating the impact the adoption of ASU 2016-12 will have on our consolidated financial statements.

On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurements of Credit Losses on Financial Instruments (“ASU 2016-13”) to amend the accounting for credit losses for certain financial instruments. Under the new guidance, an entity recognizes its estimate of expected credit losses as an allowance, which the FASB believes will result in more timely recognition of such losses. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the impact the adoption of ASU 2016-13 will have on our consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 is intended to clarify the presentation of cash receipts and payments in specific situations. The amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods, and early adoption is permitted. We are currently evaluating the impact the adoption of ASU 2016-15 will have on our consolidated financial statements.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”). ASU 2016-18 requires that amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the total beginning and ending amounts for the periods shown on the statement of cash flows. ASU 2016-18 will be effective beginning January 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We early adopted ASU 2016-18 on January 1, 2017. Upon adoption, we will include amounts generally described as restricted cash within the beginning-of-period, change and end-of-period total amounts on the statement of cash flows rather than within an activity on the statement of cash flows.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. We early adopted ASU 2017-01 on January 1, 2017. The adoption of this standard will result in less real estate acquisitions qualifying as businesses and, accordingly, acquisition costs for those acquisitions that are not businesses will be capitalized rather than expensed.

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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following summarizes as of December 31, 2016, our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	565	$	—	$	—	$	565
Liabilities:
Deferred compensation	$	—	$	565	$	—	$	565

The following summarizes as of December 31, 2015, our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	888	$	—	$	—	$	888
Liabilities:
Deferred compensation	$	—	$	888	$	—	$	888

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Leases (Tables)

12 Months Ended

Dec. 31, 2016

Leases [Abstract]

Future Contractual Minimum Annual Rentals Receivable

Future contractual minimum annual rentals receivable from our tenants, which have terms in excess of one year as of December 31, 2016, are as follows (in thousands):

YEAR ENDING DECEMBER 31,	OPERATING LEASES		DIRECT FINANCING LEASES		TOTAL
2017	$	81,784	$	12,622	$	94,406
2018		81,508		12,872		94,380
2019		81,346		13,079		94,425
2020		76,936		13,375		90,311
2021		71,523		13,552		85,075
Thereafter	$	569,111	$	101,564	$	670,675

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Credit Agreement and Senior Unsecured Notes (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Maturity Dates and Amounts Outstanding Under Credit Agreement and Restated Prudential Note Purchase Agreement

As of December 31, 2016, the maturity dates and amounts outstanding under the Credit Agreement and the Restated Prudential Note Purchase Agreement are as follows:

	Maturity Date		Amount
Credit Agreement—Revolving Facility		June 2018	$	75,000,000
Credit Agreement—Term Loan		June 2020	$	50,000,000
Restated Prudential Note Purchase Agreement—Series A Notes		February 2021	$	100,000,000
Restated Prudential Note Purchase Agreement—Series B Notes		June 2023	$	75,000,000

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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Summary of Changes in Shareholders' Equity

A summary of the changes in shareholders’ equity for the years ended December 31, 2016, 2015 and 2014 is as follows (in thousands, except per share amounts):

	COMMON STOCK				ADDITIONAL PAID-IN		DIVIDENDS PAID IN EXCESS
	SHARES		AMOUNT		CAPITAL		OF EARNINGS			TOTAL
BALANCE, DECEMBER 31, 2013		33,397	$	334	$	462,397	$	(47,640	)	$	415,091
Net earnings								23,418			23,418
Dividends declared — $0.960 per share								(32,402	)		(32,402	)
Stock-based compensation		20		—		917		—			917
BALANCE, DECEMBER 31, 2014		33,417	$	334	$	463,314	$	(56,624	)	$	407,024
Net earnings								37,410			37,410
Dividends declared — $1.15 per share								(38,897	)		(38,897	)
Stock-based compensation		5		—		1,024		—			1,024
BALANCE, DECEMBER 31, 2015		33,422	$	334	$	464,338	$	(58,111	)	$	406,561
Net earnings								38,411			38,411
Dividends declared — $1.03 per share								(35,385	)		(35,385	)
Shares issued pursuant to ATM Program, net		653		7		14,879		—			14,886
Shares issued pursuant to stock dividends		256		3		4,409		—			4,412
Shares issued pursuant to dividend reinvestment		43		—		897		—			897
Stock-based compensation		19		—		1,136		—			1,136
BALANCE, DECEMBER 31, 2016		34,393	$	344	$	485,659	$	(55,085	)	$	430,918

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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Postemployment Benefits [Abstract]

Schedule of Activity Relating to Restricted Stock Units Outstanding

The following is a schedule of the activity relating to RSUs outstanding:

	NUMBER OF RSUs OUTSTANDING			FAIR VALUE
				AMOUNT		AVERAGE PER RSU
RSUs OUTSTANDING AT DECEMBER 31, 2013		295,850
Granted		72,125		$	1,386,000	$	19.21
Settled		(19,550	)	$	360,000	$	18.43
Cancelled		(15,900	)	$	293,000	$	18.44
RSUs OUTSTANDING AT DECEMBER 31, 2014		332,525
Granted		79,250		$	1,429,700	$	18.04
Settled		(8,160	)	$	144,300	$	17.68
Cancelled		(3,240	)	$	55,600	$	17.16
RSUs OUTSTANDING AT DECEMBER 31, 2015		400,375
Granted		86,600		$	1,593,400	$	18.40
Settled		(34,650	)	$	635,800	$	18.35
Cancelled		(22,550	)	$	415,400	$	18.42
RSUs OUTSTANDING AT DECEMBER 31, 2016		429,775

Schedule of Vesting Activity Relating to Restricted Stock Units Outstanding

The following is a schedule of the vesting activity relating to RSUs outstanding:

	NUMBER OF RSUs VESTED			FAIR VALUE
RSUs VESTED AT DECEMBER 31, 2013		136,135
Vested		38,270		$	697,000
Settled		(19,550	)	$	360,000
RSUs VESTED AT DECEMBER 31, 2014		154,855
Vested		55,649		$	954,400
Settled		(8,160	)	$	144,300
RSUs VESTED AT DECEMBER 31, 2015		202,344
Vested		54,125		$	1,379,600
Settled		(34,650	)	$	635,800
RSUs VESTED AT DECEMBER 31, 2016		221,819

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Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

Basic and diluted earnings per common share gives effect, utilizing the two-class method, to the potential dilution from the issuance of common shares in settlement of restricted stock units (“RSU” or “RSUs”) which provide for non-forfeitable dividend equivalents equal to the dividends declared per common share. Basic and diluted earnings per common share is computed by dividing net earnings less dividend equivalents attributable to RSUs by the weighted-average number of common shares outstanding during the year. Diluted earnings per common share, also gives effect to the potential dilution from the exercise of stock options utilizing the treasury stock method. There were 5,000 stock options excluded from the earnings per share calculations below as they were anti-dilutive as of December 31, 2016, 2015 and 2014, respectively.

	Year ended December 31,
(in thousands):	2016			2015			2014
Earnings from continuing operations	$	42,081		$	40,370		$	20,405
Less dividend equivalents attributable to RSUs outstanding		(482	)		(460	)		(341	)
Earnings from continuing operations attributable to common shareholders		41,599			39,910			20,064
(Loss) earnings from discontinued operations		(3,670	)		(2,960	)		3,013
Less dividend equivalents attributable to RSUs outstanding		—			—			(50	)
(Loss) earnings from discontinued operations attributable to common shareholders		(3,670	)		(2,960	)		2,963
Net earnings attributable to common shareholders used for basic and diluted earnings per share calculation	$	37,929		$	36,950		$	23,027
Weighted average common shares outstanding:
Basic and diluted		33,806			33,420			33,409
RSUs outstanding at the end of the period		430			400			333
Basic and diluted earnings per common share	$	1.12		$	1.11		$	0.69

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Discontinued Operations and Assets Held For Sale (Tables)

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Real Estate Held for Sale

Real estate held for sale consisted of the following at December 31, 2016 and 2015:

(in thousands)	Year ended December 31,
	2016		2015
Land	$	117	$	603
Buildings and improvements		528		997
		645		1,600
Accumulated depreciation and amortization		—		(261	)
Real estate held for sale, net	$	645	$	1,339

Schedule of Earnings (Loss) from Discontinued Operations

The revenue from rental properties, impairment charges, other operating expenses and gains/losses from dispositions of real estate related to these properties are as follows:

	Year ended December 31,
(in thousands)	2016			2015			2014
Revenues from rental properties	$	5		$	164		$	2,372
Impairments		(5,926	)		(5,746	)		(8,596	)
Other operating income		2,456			2,283			242
(Loss) from operating activities		(3,465	)		(3,299	)		(5,982	)
(Loss) gains from dispositions of real estate		(205	)		339			8,995
(Loss) earnings from discontinued operations	$	(3,670	)	$	(2,960	)	$	3,013

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Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operations

The following is a summary of the quarterly results of operations for the years ended December 31, 2016 and 2015 (unaudited as to quarterly information) (in thousands, except per share amounts):

	THREE MONTHS ENDED
YEAR ENDED DECEMBER 31, 2016	MARCH 31,			JUNE 30,		SEPTEMBER 30,		DECEMBER 31,
Revenues from rental properties	$	24,388		$	24,140	$	24,328	$	25,083
Earnings from continuing operations		7,842			13,583		9,236		11,420
Net earnings	$	7,703		$	13,576	$	8,804	$	8,328
Diluted earnings per common share:
Earnings from continuing operations	$	0.23		$	0.40	$	0.27	$	0.33
Net earnings	$	0.23		$	0.40	$	0.26	$	0.24
YEAR ENDED DECEMBER 31, 2015	MARCH 31,			JUNE 30,		SEPTEMBER 30,		DECEMBER 31,
Revenues from rental properties	$	20,413		$	22,122	$	24,840	$	25,514
(Loss) earnings from continuing operations		(81	)		11,503		8,564		20,384
Net (loss) earnings	$	(1,137	)	$	11,619	$	7,035	$	19,893
Diluted (loss) earnings per common share:
(Loss) earnings from continuing operations	$	(0.01	)	$	0.34	$	0.25	$	0.60
Net (loss) earnings	$	(0.04	)	$	0.34	$	0.21	$	0.59

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Property Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Pro Forma Condensed Financial Information

The unaudited pro forma condensed financial information is not indicative of the results of operations that would have been achieved had the acquisition reflected herein been consummated on the dates indicated or that will be achieved in the future.

(in thousands, except per share data)	Year ended December 31,
	2015		2014
Revenues from continuing operations	$	118,003	$	117,340
Earnings from continuing operations	$	41,763	$	22,399
Basic and diluted earnings from continuing operations per common share	$	1.24	$	0.66

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Acquired Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Amortization for Acquired Intangible Assets

The amortization for acquired intangible assets during the next five years and thereafter, assuming no early lease terminations, is as follows:

	Above-Market Leases		Below-Market Leases		In-Place Leases
As Lessor:
Year ending December 31,
2017	$	148,000	$	1,833,000	$	1,389,000
2018		47,000		1,781,000		1,363,000
2019		30,000		1,701,000		1,342,000
2020		24,000		1,463,000		1,322,000
2021		16,000		1,322,000		1,301,000
Thereafter		179,000		14,439,000		14,267,000
	$	444,000	$	22,539,000	$	20,984,000

	Below-Market Leases
As Lessee:
Year ending December 31,
2017	$	320,000
2018		317,000
2019		312,000
2020		222,000
2021		157,000
Thereafter		755,000
	$	2,083,000

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Summary of Significant Accounting Policies - Additional Information (Detail)		12 Months Ended
	Aug. 03, 2015 USD ($) Property Tenants	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Impairment charges		$ 12,814,000	$ 17,361,000	$ 21,534,000
Maturity period of liquid investments		3 months
Restricted cash		$ 671,000	409,000
Total consideration for properties sold including seller financing	$ 15,000,000
Direct Financing Leases Financing Receivable [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Impairment charges		$ 0	0	$ 0
Buildings and Improvements [Member] | Minimum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property plant and equipment useful life		16 years
Buildings and Improvements [Member] | Maximum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property plant and equipment useful life		25 years
USTs [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Property plant and equipment useful life		10 years
Estimated Sale Price Method [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Impairment charges		$ 12,814,000
Estimated fair value		3,041,000
Discounted Cash Flow Method [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Impairment charges		12,814,000
Estimated fair value		1,660,000
Accumulation of Asset Retirement Cost Method [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Impairment charges		12,814,000
Estimated fair value		$ 8,113,000
Level 3 [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Assumed holding periods for unobservable inputs		15 years
Assumed annual average rent increases for unobservable inputs		2.00%
Rate of income capitalization for unobservable inputs		8.00%
Cash flows discounted rate for unobservable inputs		7.00%
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Impaired real estate assets measured at fair value		$ 780,000	1,264,000
Notes and Mortgages Receivable [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Impairment charges		0	0
Ramoco Affiliates [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of properties sold to Ramoco affiliates that were previously included in the Ramoco lease | Tenants	48
Number of leased properties | Property	61
Deferred gain on sale of property		$ 3,868,000
Seller Financing Mortgage [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Total consideration for properties sold including seller financing	$ 13,900,000
Accounts Payable and Accrued Liabilities [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Deferred gain on sale of property			$ 3,900,000

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Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 565	$ 888
Deferred Compensation [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities	565	888
Level 1 [Member] | Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	565	888
Level 2 [Member] | Deferred Compensation [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities	$ 565	$ 888

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Leases - Additional Information (Detail)	3 Months Ended								12 Months Ended
	Dec. 31, 2016 USD ($) Property State	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2016 USD ($) Property State	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Leases [Line Items]
Number of properties in portfolio | Property	829								829
Number of states in which our properties are located | State	23								23
Revenues from rental properties included in continuing operations	$ 25,083,000	$ 24,328,000	$ 24,140,000	$ 24,388,000	$ 25,514,000	$ 24,840,000	$ 22,122,000	$ 20,413,000	$ 97,939,000	$ 92,889,000	$ 82,971,000
Revenues from rental properties									94,522,000	88,358,000	77,720,000
Rental revenue increase due to revenue recognition adjustments included in continuing operations									3,417,000	4,531,000	5,251,000
Deferred rent receivables reserves	0				0				0	0
Real Estate Taxes and other municipal charges paid then reimbursed by tenants included in revenues and expenses from continuing operations									13,784,000	14,146,000	13,777,000
Lease origination costs	148,000				120,000				148,000	120,000	60,000
Net investment in direct financing leases	92,097,000				94,098,000				92,097,000	94,098,000
Net Investments in direct financing lease, minimum lease payments receivable	167,064,000				179,372,000				167,064,000	179,372,000
Net Investment in direct financing lease, unguaranteed estimated residual value	13,979,000				13,979,000				13,979,000	13,979,000
Net Investment in direct financing lease, deferred income	88,946,000				$ 99,253,000				$ 88,946,000	99,253,000
Remaining lease term									11 years
2017	6,246,000								$ 6,246,000
2018	5,548,000								5,548,000
2019	4,620,000								4,620,000
2020	3,494,000								3,494,000
2021	2,573,000								2,573,000
Thereafter	$ 3,277,000								3,277,000
Rent expense on operating lease									5,376,000	5,918,000	6,088,000
Rent received under sublease									$ 9,153,000	$ 9,653,000	$ 10,358,000
Third Parties [Member]
Leases [Line Items]
Number of properties leased | Property	89								89
Owned Properties [Member]
Leases [Line Items]
Number of properties | Property	740								740

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Leases - Future Contractual Minimum Annual Rentals Receivable (Detail) $ in Thousands	Dec. 31, 2016 USD ($)
Future Minimum Lease Payments For Capital Leases And Operating Leases [Abstract]
2017	$ 81,784
2018	81,508
2019	81,346
2020	76,936
2021	71,523
Thereafter	569,111
2017	12,622
2018	12,872
2019	13,079
2020	13,375
2021	13,552
Thereafter	101,564
2017	94,406
2018	94,380
2019	94,425
2020	90,311
2021	85,075
Thereafter	$ 670,675

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Leases - Major Tenants - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016 Property Lease Tenants	Dec. 31, 2015
Leases [Line Items]
Number of significant tenants | Tenants	3
Subsidiaries of Global Partners LP (NYSE GLP) [Member]
Leases [Line Items]
Number of leased properties | Property	166
Number of unitary leases	2
Lease revenue percentage	21.00%	21.00%
Number of leased properties guaranteed	3
Subsidiaries of Chestnut Petroleum Dist. Inc.[Member]
Leases [Line Items]
Number of leased properties | Property	79
Number of unitary leases	3
Lease revenue percentage	15.00%	16.00%
Number of leased properties guaranteed	57
Apro, LLC (d/b/a United Oil) [Member]
Leases [Line Items]
Number of leased properties | Property	77
Number of unitary leases	3
Lease revenue percentage	15.00%	9.00%

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Leases - Marketing and the Master Lease - Additional Information (Detail)			12 Months Ended
	Nov. 03, 2015 USD ($)	Apr. 22, 2015 USD ($)	Dec. 31, 2016 USD ($) Property Portfolios	Dec. 31, 2015 USD ($)
Leases [Line Items]
Legal settlements received	$ 10,800,000
Number of new triple net leases entered into during the period | Portfolios			15
Number of leased properties with new tenants | Property			350
Number of leased properties as single unit triple net leases | Portfolios			24
Maximum lease commitment for capital expenditure			$ 10,231,000
Asset retirement obligations removed from balance sheet			13,769,000
Deferred rental revenue			2,961,000
USTs [Member]
Leases [Line Items]
Asset retirement obligations removed from balance sheet			13,769,000
Net asset retirement cost related to USTs removed from the balance sheet			10,808,000
Deferred rental revenue			$ 2,961,000
Minimum [Member]
Leases [Line Items]
Unitary triple-net lease agreements initial terms			15 years
Maximum [Member]
Leases [Line Items]
Unitary triple-net lease agreements initial terms			20 years
Unitary triple-net lease agreements successive terms			20 years
Getty Petroleum Marketing Inc [Member]
Leases [Line Items]
Number of properties previously leased | Property			391
Marketing Estate [Member]
Leases [Line Items]
Loan received				$ 18,177,000
Marketing Estate Liquidating Trustee [Member]
Leases [Line Items]
Settlement agreement date				Mar. 03, 2015
Settlement agreement hearing date				Apr. 22, 2015
Interim distribution amount		$ 6,800,000
Marketing Estate Liquidating Trustee [Member] | Settlement Agreement [Member]
Leases [Line Items]
Additional distribution amount		$ 550,000

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Leases - NECG Lease Restructuring - Additional Information (Detail) - NECG Holdings Corp [Member] - Property		12 Months Ended
	Jan. 06, 2017	Dec. 31, 2016	May 01, 2012
Leases [Line Items]
Number of properties formerly leased			84
Number of leased properties remaining in NECG lease		3
Subsequent Event [Member]
Leases [Line Items]
Number of leased properties removed and re-leased	3

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Commitments and Contingencies - Additional Information (Detail)				1 Months Ended	12 Months Ended
	Oct. 05, 2016	Mar. 04, 2016 USD ($)	Jul. 07, 2014 Defendant	May 31, 2007 Defendant	Dec. 31, 2016 USD ($) Defendant	Dec. 31, 2015 USD ($)	Sep. 30, 2003 Parties
Loss Contingencies [Line Items]
Accrued legal matters					$ 11,768,000	$ 11,265,000
Provisions for litigation losses					$ 801,000	374,000
Occidental Chemical Corporation [Member] | EPA [Member]
Loss Contingencies [Line Items]
Remedial design performance period under EPA settlement agreement	4 years
8 Mile Stretch of Lower Passaic River [Member]
Loss Contingencies [Line Items]
Cost estimate for remediating Lower Passaic River		$ 1,380,000,000
Minimum [Member] | 17 Mile Stretch of Lower Passaic River [Member]
Loss Contingencies [Line Items]
Cost estimate for remediating Lower Passaic River						483,000,000
Maximum [Member] | 17 Mile Stretch of Lower Passaic River [Member]
Loss Contingencies [Line Items]
Cost estimate for remediating Lower Passaic River						$ 725,000,000
Lower Passaic River [Member]
Loss Contingencies [Line Items]
Number of potentially responsible parties for Lower Passaic River damages | Parties							66
Lower Passaic River [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Parties to perform a remedial investigation and feasibility study | Defendant				70
NJ | MTBE [Member]
Loss Contingencies [Line Items]
Number of defendants in the MTBE complaint | Defendant					50
PA | MTBE [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Number of defendants in the MTBE complaint | Defendant			50

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Credit Agreement and Senior Unsecured Notes - Additional Information (Detail) - USD ($)		12 Months Ended
	Jun. 02, 2015	Dec. 31, 2016	Dec. 31, 2015
Credit and Loan Agreement [Line Items]
Credit agreement initiation date		Jun. 02, 2015
Senior unsecured revolving credit agreement	$ 225,000,000
Term loan under credit agreement	50,000,000
Extension of credit agreement		1 year
Borrowings under credit agreement		$ 123,801,000	$ 142,100,000
Debt issuance costs		$ 1,199,000	1,900,000
Amount of rate increase in case of default		2.00%
Restated prudential note purchase agreement		$ 174,743,000	174,689,000
Senior Unsecured Notes [Member]
Credit and Loan Agreement [Line Items]
Debt issuance costs		$ 257,000	311,000
Maximum [Member]
Credit and Loan Agreement [Line Items]
Annual commitment fee on undrawn funds		0.30%
Borrowings under credit agreement		$ 75,000,000	94,000,000
Interest rate		3.10%
Minimum [Member]
Credit and Loan Agreement [Line Items]
Annual commitment fee on undrawn funds		0.25%
Restated Prudential Note Purchase Agreement [Member]
Credit and Loan Agreement [Line Items]
Amount of rate increase in case of default		2.00%
Senior unsecured note, issuance date		Jun. 02, 2015
Restated prudential note purchase agreement		$ 175,000,000	175,000,000
Restated Prudential Note Purchase Agreement [Member] | Series A Note [Member]
Credit and Loan Agreement [Line Items]
Fair value of borrowings outstanding		104,900,000	105,800,000
Restated Prudential Note Purchase Agreement [Member] | Series B Notes [Member]
Credit and Loan Agreement [Line Items]
Fair value of borrowings outstanding		76,100,000	$ 76,400,000
Prudential Loan Agreement [Member] | Series A Note [Member]
Credit and Loan Agreement [Line Items]
Senior unsecured note, aggregate amount issued		$ 100,000,000
Senior unsecured note purchase agreement, maturity date		Feb. 28, 2021
Interest rate on agreement		6.00%
Prudential Loan Agreement [Member] | Series B Notes [Member]
Credit and Loan Agreement [Line Items]
Senior unsecured note, aggregate amount issued		$ 75,000,000
Senior unsecured note purchase agreement, maturity date		Jun. 30, 2023
Interest rate on agreement		5.35%
Revolving Facility [Member]
Credit and Loan Agreement [Line Items]
Revolving facility under credit agreement	175,000,000
Credit facility agreement, maturity date		Jun. 30, 2018
Option to increase credit facility	75,000,000
Credit facility amount	$ 250,000,000
Borrowings under credit agreement		$ 75,000,000
Senior unsecured note purchase agreement, maturity date		Jun. 30, 2018
Revolving Facility [Member] | Maximum [Member]
Credit and Loan Agreement [Line Items]
Credit agreement margin on borrowing base rate		2.25%
Revolving Facility [Member] | Maximum [Member] | LIBOR [Member]
Credit and Loan Agreement [Line Items]
Credit agreement margin on borrowing base rate		3.25%
Revolving Facility [Member] | Minimum [Member]
Credit and Loan Agreement [Line Items]
Credit agreement margin on borrowing base rate		0.95%
Revolving Facility [Member] | Minimum [Member] | LIBOR [Member]
Credit and Loan Agreement [Line Items]
Credit agreement margin on borrowing base rate		1.95%
Borrowing under Credit Lines - Term Loan [Member]
Credit and Loan Agreement [Line Items]
Term loan under credit agreement		$ 50,000,000
Credit facility agreement, maturity date		Jun. 30, 2020
Borrowings under credit agreement		$ 50,000,000
Senior unsecured note purchase agreement, maturity date		Jun. 30, 2020
Borrowing under Credit Lines - Term Loan [Member] | Maximum [Member]
Credit and Loan Agreement [Line Items]
Credit agreement margin on borrowing base rate		2.20%
Borrowing under Credit Lines - Term Loan [Member] | Maximum [Member] | LIBOR [Member]
Credit and Loan Agreement [Line Items]
Credit agreement margin on borrowing base rate		3.20%
Borrowing under Credit Lines - Term Loan [Member] | Minimum [Member]
Credit and Loan Agreement [Line Items]
Credit agreement margin on borrowing base rate		0.90%
Borrowing under Credit Lines - Term Loan [Member] | Minimum [Member] | LIBOR [Member]
Credit and Loan Agreement [Line Items]
Credit agreement margin on borrowing base rate		1.90%

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Credit Agreement and Senior Unsecured Notes - Schedule of Maturity Dates and Amounts Outstanding Under Credit Agreement and Restated Prudential Note Purchase Agreement (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Borrowings under credit agreement, outstanding amount	$ 123,801	$ 142,100
Borrowings under purchase agreement, outstanding amount	$ 174,743	174,689
Revolving Facility [Member]
Line of Credit Facility [Line Items]
Borrowings under credit agreement, maturity date	Jun. 30, 2018
Borrowings under credit agreement, outstanding amount	$ 75,000
Borrowing under Credit Lines - Term Loan [Member]
Line of Credit Facility [Line Items]
Borrowings under credit agreement, maturity date	Jun. 30, 2020
Borrowings under credit agreement, outstanding amount	$ 50,000
Restated Prudential Note Purchase Agreement [Member]
Line of Credit Facility [Line Items]
Borrowings under purchase agreement, outstanding amount	$ 175,000	$ 175,000
Restated Prudential Note Purchase Agreement [Member] | Series A Notes Maturing on February 2021 [Member]
Line of Credit Facility [Line Items]
Borrowings under credit agreement, maturity date	Feb. 28, 2021
Borrowings under purchase agreement, outstanding amount	$ 100,000
Restated Prudential Note Purchase Agreement [Member] | Series B Notes Maturing on June 2023 [Member]
Line of Credit Facility [Line Items]
Borrowings under credit agreement, maturity date	Jun. 30, 2023
Borrowings under purchase agreement, outstanding amount	$ 75,000

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Environmental Obligations - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 31, 2012	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Commitments [Line Items]
Pollution legal liability insurance policy duration	10 years
Pollution legal liability insurance policy aggregate limit	$ 50,000,000
Remediation agreement of lease		We have agreed to be responsible for environmental contamination at the premises that was known at the time the lease commenced, and which existed prior to commencement of the lease and is discovered (other than as a result of a voluntary site investigation) during the first ten years of the lease term (or a shorter period for a minority of such leases).
Environmental remediation liability		$ 74,516,000	$ 84,345,000
Accretion expense		4,107,000	4,829,000	$ 3,046,000
Amounts of credits to environmental expenses included in continuing and discontinued operations		7,007,000	4,639,000	2,756,000
Increase in carrying value of property		11,346,000	12,285,000
Non-cash impairment charges		$ 11,658,000	12,548,000
Estimated remaining useful life of underground storage tank for capitalized asset retirement costs		10 years
Depreciation and amortization expense for capitalized asset retirement costs		$ 5,126,000	5,997,000	$ 1,560,000
Capitalized asset retirement costs		49,125,000	51,393,000
Asset retirement obligations removed from balance sheet		13,769,000
Deferred rental revenue		$ 2,961,000
Minimum [Member]
Other Commitments [Line Items]
Environmental remediation liability discount range		4.00%
Environmental remediation liability fair value, expected future net cash flows		2.00%
Maximum [Member]
Other Commitments [Line Items]
Environmental remediation liability discount range		7.00%
Environmental remediation liability fair value, expected future net cash flows		2.75%
USTs [Member]
Other Commitments [Line Items]
Asset retirement obligations removed from balance sheet		$ 13,769,000
Net asset cost related to USTs removed from the balance sheet		10,808,000
Deferred rental revenue		2,961,000
Future Environmental Liabilities for Preexisting Unknown Contamination [Member]
Other Commitments [Line Items]
Environmental remediation liability		45,009,000	45,443,000
Non-cash impairment charges		191,000	2,150,000
Capitalized asset retirement costs		28,489,000	30,454,000
Reasonably Estimable Environmental Remediation Obligation [Member]
Other Commitments [Line Items]
Environmental remediation liability		29,507,000	38,902,000
Known Environmental Liabilities [Member]
Other Commitments [Line Items]
Non-cash impairment charges		11,467,000	10,398,000
Capitalized asset retirement costs		$ 20,636,000	$ 20,939,000

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Income Taxes - Additional Information (Detail) - USD ($)		12 Months Ended
	Nov. 25, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax [Line Items]
Net cash paid for income taxes		$ 368,000	$ 341,000	$ 316,000
Percentage of ordinary income		61.60%	83.80%	43.90%
Capital gain distributions percentage		34.40%	16.20%	56.10%
Non-taxable distributions percentage		4.00%	0.00%	0.00%
Percentage of taxable income distributed among stockholders		90.00%
Percentage of common stock to total required distribution		80.00%
Dividend declared date	Nov. 25, 2015
Special dividend declared	$ 0.22	$ 1.03	$ 1.15	$ 0.960
Common Stock issued	255,747
Cash payments to shareholders	$ 2,941,000	$ 36,231,000	$ 35,150,000	$ 28,675,000
Marketing Estate [Member]
Income Tax [Line Items]
Distributions received from settlement of claims			$ 18,177,000
Minimum [Member]
Income Tax [Line Items]
Percentage of dividend to be distributed as cash	20.00%
Maximum [Member]
Income Tax [Line Items]
Percentage of dividend to be distributed as cash	40.00%

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Shareholders' Equity - Summary of Changes in Shareholders' Equity (Detail) - USD ($)		3 Months Ended								12 Months Ended
	Nov. 25, 2015	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Shareholders Equity [Line Items]
Beginning balance, value					$ 406,561,000				$ 407,024,000	$ 406,561,000	$ 407,024,000	$ 415,091,000
Net earnings		$ 8,328,000	$ 8,804,000	$ 13,576,000	7,703,000	$ 19,893,000	$ 7,035,000	$ 11,619,000	(1,137,000)	38,411,000	37,410,000	23,418,000
Dividends										(35,385,000)	(38,897,000)	(32,402,000)
Shares issued pursuant to ATM Program, net, value										14,886,000
Shares issued pursuant to stock dividends, value										4,412,000
Shares issued pursuant to stock dividends, shares	255,747
Shares issued pursuant to dividend reinvestment, value										$ 897,000
Shares issued pursuant to dividend reinvestment, shares										42,681
Stock-based compensation, Value										$ 1,136,000	1,024,000	917,000
Ending balance, value		430,918,000				406,561,000				430,918,000	406,561,000	407,024,000
Common Stock [Member]
Shareholders Equity [Line Items]
Beginning balance, value					$ 334,000				$ 334,000	$ 334,000	$ 334,000	$ 334,000
Beginning balance, shares					33,422				33,417	33,422	33,417	33,397
Shares issued pursuant to ATM Program, net, value										$ 7,000
Shares issued pursuant to ATM Program, net, shares										653,000
Shares issued pursuant to stock dividends, value										$ 3,000
Shares issued pursuant to stock dividends, shares										256,000
Shares issued pursuant to dividend reinvestment, shares										43,000
Stock-based compensation, Shares										19,000	5,000	20,000
Ending balance, value		$ 344,000				$ 334,000				$ 344,000	$ 334,000	$ 334,000
Ending balance, shares		34,393				33,422				34,393	33,422	33,417
Additional Paid-in-Capital [Member]
Shareholders Equity [Line Items]
Beginning balance, value					$ 464,338,000				$ 463,314,000	$ 464,338,000	$ 463,314,000	$ 462,397,000
Shares issued pursuant to ATM Program, net, value										14,879,000
Shares issued pursuant to stock dividends, value										4,409,000
Shares issued pursuant to dividend reinvestment, value										897,000
Stock-based compensation, Value										1,136,000	1,024,000	917,000
Ending balance, value		$ 485,659,000				$ 464,338,000				485,659,000	464,338,000	463,314,000
Dividends Paid in Excess of Earnings [Member]
Shareholders Equity [Line Items]
Beginning balance, value					$ (58,111,000)				$ (56,624,000)	(58,111,000)	(56,624,000)	(47,640,000)
Net earnings										38,411,000	37,410,000	23,418,000
Dividends										(35,385,000)	(38,897,000)	(32,402,000)
Ending balance, value		$ (55,085,000)				$ (58,111,000)				$ (55,085,000)	$ (58,111,000)	$ (56,624,000)

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Shareholders' Equity - Summary of Changes in Shareholders' Equity (Parenthetical) (Detail) - $ / shares		12 Months Ended
	Nov. 25, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Equity [Abstract]
Dividends per share	$ 0.22	$ 1.03	$ 1.15	$ 0.960

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Shareholders' Equity - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Shareholders Equity [Line Items]
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares issued	0	0
Proceeds from issuance of shares	$ 14,886,000
Payments of regular and special dividends	$ 40,643,000	$ 35,150,000
Dividends paid per share	$ 1.22	$ 1.04
Payment of regular quarterly dividend	$ 33,202,000	$ 30,425,000
Payment of special dividend	$ 7,441,000	$ 4,725,000
Regular quarterly dividends paid per share	$ 1.00	$ 0.90
Special dividends paid per share	$ 0.22	$ 0.14
Shares issued under dividend reinvestment plan	42,681
Value of shares issued under Shares issued under Dividend Reinvestment Plan	$ 897,000
Stock based compensation expenses	$ 1,426,000	$ 1,090,000	$ 917,000
ATM Program [Member]
Shareholders Equity [Line Items]
Shares issued	653,000
Proceeds from issuance of shares	$ 14,886,000
Stock issuance costs	360,000
ATM Program [Member] | Maximum [Member]
Shareholders Equity [Line Items]
Aggregate sales price	$ 125,000,000

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Employee Benefit Plans - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Grant awards		1,000,000
Maximum number of shares of common stock		100,000
Incentive compensation program vesting percentage		20.00%
Vested of common stock		1
Issuance of common stock		1
Common stock dividends declared		$ 445,000	$ 464,000	$ 333,000
Compensation expense		$ 1,426,000	1,090,000	917,000
Employer matching contribution percent		50.00%
Employee compensation		3.00%
Contributions, net of forfeitures		$ 268,000	$ 284,000	$ 261,000
Number of stock option outstanding		5,000	5,000
Stock option exercise price		$ 27.68	$ 27.68
Intrinsic value of stock option outstanding		$ 0	$ 0
Expiration date of stock options		May 15, 2017	May 15, 2017
Restricted Stock Units [Member]
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Restricted stock awarded		86,600	79,250
RSUs vest starting period from date of grant		1 year
Annual rate of vest of total number of RSUs		20.00%
Compensation expense			$ 1,083,000
Number of outstanding RSUs		429,775	400,375	332,525	295,850
Restricted Stock Units [Member] | Employees And Directors [Member]
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Restricted stock awarded		86,600	79,250	72,125
Termination of grant		10 years
Restricted Stock Units [Member] | 2012 Incentive Program [Member]
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Restricted stock awarded				72,125
Unrecognized compensation cost		$ 2,660,000
Restricted Stock Units [Member] | 2012 Incentive Program [Member] | Employees And Directors [Member]
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Restricted stock awarded	35,000
Restricted Stock Units [Member] | 2004 Omnibus Incentive Compensation Plan [Member]
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Fair value of grants recognition period		5 years
Compensation expense		$ 1,418,000		$ 910,000
Weighted average period		3 years
Number of outstanding RSUs		429,775
Number of vested RSUs		221,819
Intrinsic value of outstanding RSUs		$ 10,955,000
Intrinsic value of vested RSUs		5,654,000
Restricted Stock Units [Member] | 2004 Incentive Plan [Member]
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Unrecognized compensation cost		$ 2,660,000
Supplemental Employee Retirement Plan [Member]
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Executive compensation		10.00%
Distribution from supplemental plan			$ 0
Supplemental Employee Retirement Plan [Member] | Two Former Officers [Member]
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Distribution from supplemental plan				$ 2,690,000
Supplemental Employee Retirement Plan [Member] | One Former Officer [Member]
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Options [Line Items]
Distribution from supplemental plan		$ 469,000

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Employee Benefit Plans - Schedule of Activity Relating to Restricted Stock Units Outstanding (Detail) - Restricted Stock Units [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance, RSUs Outstanding	400,375	332,525	295,850
Granted, Number of RSUs Outstanding	86,600	79,250
Settled, Number of RSUs Outstanding	(34,650)	(8,160)	(19,550)
Cancelled, Number of RSUs Outstanding	(22,550)	(3,240)	(15,900)
Balance, RSUs Outstanding	429,775	400,375	332,525
Granted, Fair Value Amount	$ 1,593,400	$ 1,429,700
Settled, Fair Value Amount	635,800	144,300	$ 360,000
Cancelled, Fair Value Amount	$ 415,400	$ 55,600	$ 293,000
Granted, Fair Value Average Per RSU	$ 18.40	$ 18.04
Settled, Fair Value Average Per RSU	18.35	17.68	$ 18.43
Cancelled, Fair Value Average Per RSU	$ 18.42	$ 17.16	$ 18.44
2012 Incentive Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of RSUs Outstanding			72,125
Granted, Fair Value Amount			$ 1,386,000
Granted, Fair Value Average Per RSU			$ 19.21

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Employee Benefit Plans - Schedule of Vesting Activity Relating to Restricted Stock Units Outstanding (Detail) - Restricted Stock Units [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance, RSUs Vested	202,344	154,855	136,135
Vested, Number of RSUs Vested	54,125	55,649	38,270
Settled, Number of RSUs Vested	(34,650)	(8,160)	(19,550)
Balance, RSUs Vested	221,819	202,344	154,855
Vested, Fair Value	$ 1,379,600	$ 954,400	$ 697,000
Settled, Fair Value	$ 635,800	$ 144,300	$ 360,000

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Earnings Per Common Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Stock Options [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities Excluded from calculation of EPS	5,000	5,000	5,000

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Earnings Per Common Share - Schedule of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Earnings from continuing operations	$ 11,420	$ 9,236	$ 13,583	$ 7,842	$ 20,384	$ 8,564	$ 11,503	$ (81)	$ 42,081	$ 40,370	$ 20,405
Less dividend equivalents attributable to RSUs outstanding									(482)	(460)	(341)
Earnings from continuing operations attributable to common shareholders									41,599	39,910	20,064
(Loss) earnings from discontinued operations									(3,670)	(2,960)	3,013
Less dividend equivalents attributable to RSUs outstanding											(50)
(Loss) earnings from discontinued operations attributable to common shareholders									(3,670)	(2,960)	2,963
Net earnings attributable to common shareholders used for basic and diluted earnings per share calculation									$ 37,929	$ 36,950	$ 23,027
Basic and diluted									33,806	33,420	33,409
RSUs outstanding at the end of the period	430				400				430	400	333
Basic and diluted earnings per common share									$ 1.12	$ 1.11	$ 0.69

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Discontinued Operations and Assets Held For Sale - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016 USD ($) Property	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties held for sale | Property	2
Number of properties sold previously held for sale | Property	2
(Loss) gains from dispositions of real estate	$ (205,000)	$ 339,000	$ 8,995,000
Gain from sale of properties	$ 2,373,000
Number of properties sold | Property	12
Number of properties for which gains on dispositions are included in earnings | Property	12
Ramoco Affiliates [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on property condemnations	$ 177,000
Deferred gain on sale of property	3,868,000
Properties Previously Classified Held for Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) gains from dispositions of real estate	$ (205,000)

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Discontinued Operations and Assets Held For Sale - Schedule of Real Estate Held for Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real Estate Held For Sale [Line Items]
Accumulated depreciation and amortization	$ (120,576)	$ (107,109)
Real estate, net	661,590	675,863
Real Estate Held for Sale [Member]
Real Estate Held For Sale [Line Items]
Land	117	603
Buildings and improvements	528	997
Real estate held for sale, gross	645	1,600
Accumulated depreciation and amortization		(261)
Real estate, net	$ 645	$ 1,339

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Discontinued Operations and Assets Held For Sale - Schedule of Earnings (Loss) from Discontinued Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]
Revenues from rental properties	$ 5	$ 164	$ 2,372
Impairments	(5,926)	(5,746)	(8,596)
Other operating income	2,456	2,283	242
(Loss) from operating activities	(3,465)	(3,299)	(5,982)
(Loss) gains from dispositions of real estate	(205)	339	8,995
(Loss) earnings from discontinued operations	$ (3,670)	$ (2,960)	$ 3,013

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Quarterly Financial Data - Summary of Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenues from rental properties	$ 25,083	$ 24,328	$ 24,140	$ 24,388	$ 25,514	$ 24,840	$ 22,122	$ 20,413	$ 97,939	$ 92,889	$ 82,971
(Loss) earnings from continuing operations	11,420	9,236	13,583	7,842	20,384	8,564	11,503	(81)	42,081	40,370	20,405
Net (loss) earnings	$ 8,328	$ 8,804	$ 13,576	$ 7,703	$ 19,893	$ 7,035	$ 11,619	$ (1,137)	$ 38,411	$ 37,410	$ 23,418
Diluted (loss) earnings per common share:
(Loss) earnings from continuing operations	$ 0.33	$ 0.27	$ 0.40	$ 0.23	$ 0.60	$ 0.25	$ 0.34	$ (0.01)
Net (loss) earnings	$ 0.24	$ 0.26	$ 0.40	$ 0.23	$ 0.59	$ 0.21	$ 0.34	$ (0.04)

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Property Acquisitions - Additional Information (Detail)		12 Months Ended
	Jun. 03, 2015 USD ($) Lease SimpleInterests	Dec. 31, 2016 USD ($) Property	Dec. 31, 2015 USD ($) Property	Dec. 31, 2014 USD ($)
Business Acquisition [Line Items]
Number of convenience stores and gasoline stations acquired during the period | Property		3	80
Aggregate purchase price of the convenience stores and gasoline stations acquired during the period		$ 7,688,000	$ 219,192,000	$ 17,098,000
Maximum [Member]
Business Acquisition [Line Items]
Unitary triple-net lease agreements initial terms		20 years
Unitary triple-net lease agreements successive terms		20 years
Apro, LLC (d/b/a United Oil) [Member]
Business Acquisition [Line Items]
Number of Triple-Net Unitary Leases | Lease	3
Lease agreements description		Initial terms of 20 years and options for up to three successive five year renewal options
Unitary triple-net lease agreements initial terms	20 years
Unitary triple-net lease agreements successive terms	5 years
Apro, LLC (d/b/a United Oil) [Member] | Maximum [Member]
Business Acquisition [Line Items]
Number of lease renewal options | Lease	3
Pacific Convenience and Fuels LLC [Member]
Business Acquisition [Line Items]
Aggregate purchase price of the convenience stores and gasoline stations acquired during the period		$ 7,688,000	219,200,000
Pacific Convenience and Fuels LLC [Member] | Apro, LLC (d/b/a United Oil) [Member]
Business Acquisition [Line Items]
Aggregate purchase price of the convenience stores and gasoline stations acquired during the period	$ 214,500,000
Number of fee simple interests acquired in convenience store and retail motor fuel stations from affiliates | SimpleInterests	77
United Oil Transaction [Member]
Business Acquisition [Line Items]
Total revenues from continuing operations		17,631,000	10,177,000
Net earnings from continuing operations		11,762,000	$ 6,952,000
Land [Member] | Gasoline Stations and Convenience Store Properties [Member]
Business Acquisition [Line Items]
Purchase price allocation, assets acquired	$ 140,966,000	1,041,000
Land Building and Equipment [Member] | Gasoline Stations and Convenience Store Properties [Member]
Business Acquisition [Line Items]
Purchase price allocated to in-place leases		374,000
Transaction cost related to acquisition	413,000	86,000
Purchase price allocated to above market leases	216,000
Purchase price allocated to below market leases	19,210,000
Purchase price allocated to in-place lease and other intangible assets	17,402,000
Buildings and Improvements [Member] | Gasoline Stations and Convenience Store Properties [Member]
Business Acquisition [Line Items]
Purchase price allocation, assets acquired		6,111,000
Leasehold [Member]
Business Acquisition [Line Items]
Number of convenience stores and gasoline stations acquired during the period | Property			3
Leasehold [Member] | Pacific Convenience and Fuels LLC [Member]
Business Acquisition [Line Items]
Aggregate purchase price of the convenience stores and gasoline stations acquired during the period			$ 4,700,000
Buildings and Equipment [Member] | Gasoline Stations and Convenience Store Properties [Member]
Business Acquisition [Line Items]
Purchase price allocation, assets acquired	$ 75,119,000
Parcel of Land [Member] | Gasoline Stations and Convenience Store Properties [Member]
Business Acquisition [Line Items]
Purchase price allocation, assets acquired		$ 162,000

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Property Acquisitions - Pro Forma Condensed Financial Information (Detail) - Proforma Financial Information for Acquisition Properties [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition Pro Forma Information [Line Items]
Revenues from continuing operations	$ 118,003	$ 117,340
Earnings from continuing operations	$ 41,763	$ 22,399
Basic and diluted earnings from continuing operations per common share	$ 1.24	$ 0.66

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Acquired Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Above- Market and Below- Market Leases [Member] | Operating Income [Member]
Business Acquisition [Line Items]
Amortization from acquired leases	$ 1,833,000	$ 1,426,000	$ 1,239,000
Above- Market and Below- Market Leases [Member] | Operating Expense [Member]
Business Acquisition [Line Items]
Amortization from acquired leases	333,000	333,000	333,000
Above- Market and Below- Market Leases [Member] | Prepaid Expenses And Other Assets [Member]
Business Acquisition [Line Items]
Finite lived intangible asset	2,527,000	3,021,000
Accumulated amortization	4,210,000	3,715,000
Above- Market and Below- Market Leases [Member] | Accounts Payable and Accrued Liabilities [Member]
Business Acquisition [Line Items]
Accumulated amortization	13,619,000	11,624,000
Finite lived intangible liabilities	22,539,000	24,534,000
In-Place Leases [Member]
Business Acquisition [Line Items]
Finite lived intangible asset	20,984,000	22,004,000
Accumulated amortization	5,187,000	3,793,000
Depreciation and amortization expense	$ 1,395,000	$ 1,019,000	$ 518,000

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Acquired Intangible Assets - Schedule of Amortization for Acquired Intangible Assets (Detail)	Dec. 31, 2016 USD ($)
Above Market Leases [Member] | Lessor [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
2017	$ 148,000
2018	47,000
2019	30,000
2020	24,000
2021	16,000
Thereafter	179,000
Total	444,000
Below Market Leases [Member] | Lessor [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
2017	1,833,000
2018	1,781,000
2019	1,701,000
2020	1,463,000
2021	1,322,000
Thereafter	14,439,000
Total	22,539,000
Below Market Leases [Member] | Lessee [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
2017	320,000
2018	317,000
2019	312,000
2020	222,000
2021	157,000
Thereafter	755,000
Total	2,083,000
In-Place Leases [Member] | Lessor [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
2017	1,389,000
2018	1,363,000
2019	1,342,000
2020	1,322,000
2021	1,301,000
Thereafter	14,267,000
Total	$ 20,984,000

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Subsequent Events - Additional Information (Detail) - Series C Notes [Member] - Prudential Loan Agreement [Member] - Subsequent Event [Member]	Feb. 21, 2017 USD ($)
Subsequent Event [Line Items]
Senior unsecured note, aggregate amount issued	$ 50,000,000
Interest rate on agreement	4.75%
Senior unsecured note purchase agreement, maturity date	Feb. 28, 2025

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Schedule II - Valuation and Qualifying Accounts and Reserves (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance For Deferred Rent Receivable [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of year		$ 7,009	$ 4,775
Additions			2,234
Deductions		7,009
Balance at end of year			7,009
Allowance For Accounts Receivables [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of year	$ 2,634	4,160	3,248
Additions	855	1,778	1,182
Deductions	1,483	3,304	270
Balance at end of year	$ 2,006	$ 2,634	$ 4,160

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Schedule III - Real Estate and Accumulated Depreciation and Amortization - Schedule of Changes in Real Estate Assets and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investment in real estate:
Balance at beginning of year	$ 783,233	$ 595,959	$ 570,275
Acquisitions and capital expenditures	19,097	233,785	79,259
Impairments	(13,590)	(20,606)	(24,620)
Sales and condemnations	(6,379)	(25,019)	(25,786)
Lease expirations/settlements	(195)	(886)	(3,169)
Balance at end of year	782,166	783,233	595,959
Accumulated depreciation and amortization:
Balance at beginning of year	107,370	100,690	103,452
Depreciation and amortization	16,629	15,663	9,777
Impairments	(776)	(3,246)	(3,086)
Sales and condemnations	(2,559)	(5,313)	(6,544)
Lease expirations/settlements	(88)	(424)	(2,909)
Balance at end of year	$ 120,576	$ 107,370	$ 100,690

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 1 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
Accumulated Depreciation And Amortization Description [Member] | ARKANSAS | Brookland One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	1,468
Cost Capitalized Subsequent to Initial Investment	0
Land	149
Building and Improvements	1,319
Total Investment in Real Estate	1,468
Accumulated Depreciation and Amortization	$ 508
Date of Initial Leasehold or Acquisition Investment	2007
Accumulated Depreciation And Amortization Description [Member] | ARKANSAS | Jonesboro One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 868
Cost Capitalized Subsequent to Initial Investment	0
Land	173
Building and Improvements	695
Total Investment in Real Estate	868
Accumulated Depreciation and Amortization	$ 282
Date of Initial Leasehold or Acquisition Investment	2007
Accumulated Depreciation And Amortization Description [Member] | ARKANSAS | Jonesboro Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,985
Cost Capitalized Subsequent to Initial Investment	0
Land	330
Building and Improvements	2,655
Total Investment in Real Estate	2,985
Accumulated Depreciation and Amortization	$ 1,076
Date of Initial Leasehold or Acquisition Investment	2007
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Bellflower One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,369
Cost Capitalized Subsequent to Initial Investment	0
Land	910
Building and Improvements	459
Total Investment in Real Estate	1,369
Accumulated Depreciation and Amortization	$ 241
Date of Initial Leasehold or Acquisition Investment	2007
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Benicia One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,224
Cost Capitalized Subsequent to Initial Investment	0
Land	1,058
Building and Improvements	1,166
Total Investment in Real Estate	2,224
Accumulated Depreciation and Amortization	$ 639
Date of Initial Leasehold or Acquisition Investment	2007
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Chula Vista One[Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,385
Cost Capitalized Subsequent to Initial Investment	0
Land	889
Building and Improvements	1,496
Total Investment in Real Estate	2,385
Accumulated Depreciation and Amortization	$ 152
Date of Initial Leasehold or Acquisition Investment	2014
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Coachella One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,235
Cost Capitalized Subsequent to Initial Investment	0
Land	1,217
Building and Improvements	1,018
Total Investment in Real Estate	2,235
Accumulated Depreciation and Amortization	$ 521
Date of Initial Leasehold or Acquisition Investment	2007
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Cotati One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 6,072
Cost Capitalized Subsequent to Initial Investment	0
Land	4,008
Building and Improvements	2,064
Total Investment in Real Estate	6,072
Accumulated Depreciation and Amortization	$ 180
Date of Initial Leasehold or Acquisition Investment	2015
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Fillmore One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,354
Cost Capitalized Subsequent to Initial Investment	0
Land	950
Building and Improvements	404
Total Investment in Real Estate	1,354
Accumulated Depreciation and Amortization	$ 211
Date of Initial Leasehold or Acquisition Investment	2007
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Grass Valley One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,485
Cost Capitalized Subsequent to Initial Investment	0
Land	853
Building and Improvements	632
Total Investment in Real Estate	1,485
Accumulated Depreciation and Amortization	$ 57
Date of Initial Leasehold or Acquisition Investment	2015
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Hesperia One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,643
Cost Capitalized Subsequent to Initial Investment	0
Land	849
Building and Improvements	794
Total Investment in Real Estate	1,643
Accumulated Depreciation and Amortization	$ 384
Date of Initial Leasehold or Acquisition Investment	2007
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Hesperia Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,055
Cost Capitalized Subsequent to Initial Investment	0
Land	492
Building and Improvements	1,563
Total Investment in Real Estate	2,055
Accumulated Depreciation and Amortization	$ 166
Date of Initial Leasehold or Acquisition Investment	2015
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Indio One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,250
Cost Capitalized Subsequent to Initial Investment	0
Land	302
Building and Improvements	948
Total Investment in Real Estate	1,250
Accumulated Depreciation and Amortization	$ 89
Date of Initial Leasehold or Acquisition Investment	2015
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Indio Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,727
Cost Capitalized Subsequent to Initial Investment	0
Land	1,486
Building and Improvements	1,241
Total Investment in Real Estate	2,727
Accumulated Depreciation and Amortization	$ 122
Date of Initial Leasehold or Acquisition Investment	2015
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | La Palma One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,971
Cost Capitalized Subsequent to Initial Investment	0
Land	1,389
Building and Improvements	582
Total Investment in Real Estate	1,971
Accumulated Depreciation and Amortization	$ 300
Date of Initial Leasehold or Acquisition Investment	2007
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | La Puente One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 7,615
Cost Capitalized Subsequent to Initial Investment	0
Land	6,405
Building and Improvements	1,210
Total Investment in Real Estate	7,615
Accumulated Depreciation and Amortization	$ 125
Date of Initial Leasehold or Acquisition Investment	2015
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Lakeside One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,715
Cost Capitalized Subsequent to Initial Investment	0
Land	2,695
Building and Improvements	1,020
Total Investment in Real Estate	3,715
Accumulated Depreciation and Amortization	$ 100
Date of Initial Leasehold or Acquisition Investment	2015
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Los Angeles One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 6,612
Cost Capitalized Subsequent to Initial Investment	0
Land	5,006
Building and Improvements	1,606
Total Investment in Real Estate	6,612
Accumulated Depreciation and Amortization	$ 164
Date of Initial Leasehold or Acquisition Investment	2015
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Oakland One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 5,434
Cost Capitalized Subsequent to Initial Investment	0
Land	4,123
Building and Improvements	1,311
Total Investment in Real Estate	5,434
Accumulated Depreciation and Amortization	$ 132
Date of Initial Leasehold or Acquisition Investment	2015
Accumulated Depreciation And Amortization Description [Member] | CALIFORNIA | Ontario One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 6,613
Cost Capitalized Subsequent to Initial Investment	0
Land	4,523
Building and Improvements	2,090
Total Investment in Real Estate	6,613
Accumulated Depreciation and Amortization	$ 213
Date of Initial Leasehold or Acquisition Investment	2015

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 2 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | Phelan One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	4,611
Cost Capitalized Subsequent to Initial Investment	0
Land	3,276
Building and Improvements	1,335
Total Investment in Real Estate	4,611
Accumulated Depreciation and Amortization	$ 139
Date of Initial Leasehold or Acquisition Investment	2015
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | Riverside One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,130
Cost Capitalized Subsequent to Initial Investment	0
Land	1,619
Building and Improvements	511
Total Investment in Real Estate	2,130
Accumulated Depreciation and Amortization	$ 67
Date of Initial Leasehold or Acquisition Investment	2015
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | Riverside Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,737
Cost Capitalized Subsequent to Initial Investment	0
Land	1,216
Building and Improvements	1,521
Total Investment in Real Estate	2,737
Accumulated Depreciation and Amortization	$ 179
Date of Initial Leasehold or Acquisition Investment	2014
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | Sacramento One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,193
Cost Capitalized Subsequent to Initial Investment	0
Land	2,207
Building and Improvements	986
Total Investment in Real Estate	3,193
Accumulated Depreciation and Amortization	$ 103
Date of Initial Leasehold or Acquisition Investment	2015
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | Sacramento Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,247
Cost Capitalized Subsequent to Initial Investment	0
Land	2,604
Building and Improvements	1,643
Total Investment in Real Estate	4,247
Accumulated Depreciation and Amortization	$ 151
Date of Initial Leasehold or Acquisition Investment	2015
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | Sacramento Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 5,942
Cost Capitalized Subsequent to Initial Investment	0
Land	4,233
Building and Improvements	1,709
Total Investment in Real Estate	5,942
Accumulated Depreciation and Amortization	$ 168
Date of Initial Leasehold or Acquisition Investment	2015
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | San Dimas One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,941
Cost Capitalized Subsequent to Initial Investment	0
Land	749
Building and Improvements	1,192
Total Investment in Real Estate	1,941
Accumulated Depreciation and Amortization	$ 528
Date of Initial Leasehold or Acquisition Investment	2007
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | San Jose One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 5,412
Cost Capitalized Subsequent to Initial Investment	0
Land	4,219
Building and Improvements	1,193
Total Investment in Real Estate	5,412
Accumulated Depreciation and Amortization	$ 131
Date of Initial Leasehold or Acquisition Investment	2015
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | San Leandro One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 5,978
Cost Capitalized Subsequent to Initial Investment	0
Land	5,078
Building and Improvements	900
Total Investment in Real Estate	5,978
Accumulated Depreciation and Amortization	$ 97
Date of Initial Leasehold or Acquisition Investment	2015
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | Shingle Springs One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,751
Cost Capitalized Subsequent to Initial Investment	0
Land	3,489
Building and Improvements	1,262
Total Investment in Real Estate	4,751
Accumulated Depreciation and Amortization	$ 128
Date of Initial Leasehold or Acquisition Investment	2015
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | Stockton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,187
Cost Capitalized Subsequent to Initial Investment	0
Land	627
Building and Improvements	560
Total Investment in Real Estate	1,187
Accumulated Depreciation and Amortization	$ 58
Date of Initial Leasehold or Acquisition Investment	2015
CALIFORNIA | Accumulated Depreciation And Amortization Description [Member] | Stockton Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,001
Cost Capitalized Subsequent to Initial Investment	0
Land	1,460
Building and Improvements	1,541
Total Investment in Real Estate	3,001
Accumulated Depreciation and Amortization	$ 145
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Boulder One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,900
Cost Capitalized Subsequent to Initial Investment	0
Land	2,875
Building and Improvements	1,025
Total Investment in Real Estate	3,900
Accumulated Depreciation and Amortization	$ 95
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Castle Rock One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 5,269
Cost Capitalized Subsequent to Initial Investment	0
Land	3,269
Building and Improvements	2,000
Total Investment in Real Estate	5,269
Accumulated Depreciation and Amortization	$ 197
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Golden One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,641
Cost Capitalized Subsequent to Initial Investment	0
Land	3,247
Building and Improvements	1,394
Total Investment in Real Estate	4,641
Accumulated Depreciation and Amortization	$ 134
Date of Initial Leasehold or Acquisition Investment	2015

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 3 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Greenwood Village One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	4,077
Land	2,889
Building and Improvements	1,188
Total Investment in Real Estate	4,077
Accumulated Depreciation and Amortization	$ 109
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Highlands Ranch One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,356
Land	2,921
Building and Improvements	1,435
Total Investment in Real Estate	4,356
Accumulated Depreciation and Amortization	$ 140
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Lakewood One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,349
Land	1,541
Building and Improvements	808
Total Investment in Real Estate	2,349
Accumulated Depreciation and Amortization	$ 75
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Littleton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,233
Land	2,366
Building and Improvements	1,867
Total Investment in Real Estate	4,233
Accumulated Depreciation and Amortization	$ 182
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Lone Tree One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 6,612
Land	5,125
Building and Improvements	1,487
Total Investment in Real Estate	6,612
Accumulated Depreciation and Amortization	$ 152
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Longmont One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,619
Land	2,315
Building and Improvements	1,304
Total Investment in Real Estate	3,619
Accumulated Depreciation and Amortization	$ 133
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Louisville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 6,605
Land	5,228
Building and Improvements	1,377
Total Investment in Real Estate	6,605
Accumulated Depreciation and Amortization	$ 138
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Morrison One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 5,081
Land	3,018
Building and Improvements	2,063
Total Investment in Real Estate	5,081
Accumulated Depreciation and Amortization	$ 209
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Superior One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,748
Land	2,477
Building and Improvements	1,271
Total Investment in Real Estate	3,748
Accumulated Depreciation and Amortization	$ 124
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Thornton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 5,003
Land	2,722
Building and Improvements	2,281
Total Investment in Real Estate	5,003
Accumulated Depreciation and Amortization	$ 223
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Westminster One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,457
Land	752
Building and Improvements	705
Total Investment in Real Estate	1,457
Accumulated Depreciation and Amortization	$ 67
Date of Initial Leasehold or Acquisition Investment	2015
COLORADO | Accumulated Depreciation And Amortization Description [Member] | Wheat Ridge One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 6,151
Land	4,201
Building and Improvements	1,950
Total Investment in Real Estate	6,151
Accumulated Depreciation and Amortization	$ 197
Date of Initial Leasehold or Acquisition Investment	2015
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Avon One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 731
Cost Capitalized Subsequent to Initial Investment	333
Land	403
Building and Improvements	661
Total Investment in Real Estate	1,064
Accumulated Depreciation and Amortization	$ 309
Date of Initial Leasehold or Acquisition Investment	2002
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Bridgeport One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 346
Cost Capitalized Subsequent to Initial Investment	12
Land	230
Building and Improvements	128
Total Investment in Real Estate	358
Accumulated Depreciation and Amortization	$ 128
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Bridgeport Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 339
Cost Capitalized Subsequent to Initial Investment	22
Land	220
Building and Improvements	141
Total Investment in Real Estate	361
Accumulated Depreciation and Amortization	$ 112
Date of Initial Leasehold or Acquisition Investment	1985

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 4 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Bridgeport Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	59
Cost Capitalized Subsequent to Initial Investment	380
Land	24
Building and Improvements	415
Total Investment in Real Estate	439
Accumulated Depreciation and Amortization	$ 196
Date of Initial Leasehold or Acquisition Investment	1982
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Bridgeport Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 313
Cost Capitalized Subsequent to Initial Investment	298
Land	204
Building and Improvements	407
Total Investment in Real Estate	611
Accumulated Depreciation and Amortization	$ 162
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Bridgeport Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 350
Cost Capitalized Subsequent to Initial Investment	330
Land	228
Building and Improvements	452
Total Investment in Real Estate	680
Accumulated Depreciation and Amortization	$ 203
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Bridgeport Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 377
Cost Capitalized Subsequent to Initial Investment	394
Land	246
Building and Improvements	525
Total Investment in Real Estate	771
Accumulated Depreciation and Amortization	$ 254
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Bristol One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 360
Building and Improvements	360
Total Investment in Real Estate	360
Accumulated Depreciation and Amortization	$ 360
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Bristol Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 365
Land	237
Building and Improvements	128
Total Investment in Real Estate	365
Accumulated Depreciation and Amortization	$ 62
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Bristol Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,594
Land	1,036
Building and Improvements	558
Total Investment in Real Estate	1,594
Accumulated Depreciation and Amortization	$ 272
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Brookfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 57
Cost Capitalized Subsequent to Initial Investment	733
Land	20
Building and Improvements	770
Total Investment in Real Estate	790
Accumulated Depreciation and Amortization	$ 288
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Cheshire One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 491
Cost Capitalized Subsequent to Initial Investment	(113)
Land	267
Building and Improvements	111
Total Investment in Real Estate	378
Accumulated Depreciation and Amortization	$ 46
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Cobalt One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 396
Building and Improvements	396
Total Investment in Real Estate	396
Accumulated Depreciation and Amortization	$ 396
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Darien One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 667
Cost Capitalized Subsequent to Initial Investment	323
Land	434
Building and Improvements	556
Total Investment in Real Estate	990
Accumulated Depreciation and Amortization	$ 352
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Durham One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 994
Building and Improvements	994
Total Investment in Real Estate	994
Accumulated Depreciation and Amortization	$ 994
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | East Hartford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 208
Cost Capitalized Subsequent to Initial Investment	224
Land	54
Building and Improvements	378
Total Investment in Real Estate	432
Accumulated Depreciation and Amortization	$ 223
Date of Initial Leasehold or Acquisition Investment	1982
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Ellington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,295
Land	842
Building and Improvements	453
Total Investment in Real Estate	1,295
Accumulated Depreciation and Amortization	$ 221
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Fairfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 430
Cost Capitalized Subsequent to Initial Investment	51
Land	280
Building and Improvements	201
Total Investment in Real Estate	481
Accumulated Depreciation and Amortization	$ 125
Date of Initial Leasehold or Acquisition Investment	1985

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 5 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Farmington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	466
Land	303
Building and Improvements	163
Total Investment in Real Estate	466
Accumulated Depreciation and Amortization	$ 79
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Franklin One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 51
Cost Capitalized Subsequent to Initial Investment	447
Land	20
Building and Improvements	478
Total Investment in Real Estate	498
Accumulated Depreciation and Amortization	$ 257
Date of Initial Leasehold or Acquisition Investment	1982
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Hartford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 571
Land	371
Building and Improvements	200
Total Investment in Real Estate	571
Accumulated Depreciation and Amortization	$ 97
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Hartford Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 665
Land	432
Building and Improvements	233
Total Investment in Real Estate	665
Accumulated Depreciation and Amortization	$ 113
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Manchester One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 110
Cost Capitalized Subsequent to Initial Investment	323
Land	50
Building and Improvements	383
Total Investment in Real Estate	433
Accumulated Depreciation and Amortization	$ 147
Date of Initial Leasehold or Acquisition Investment	1987
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Meriden One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 208
Cost Capitalized Subsequent to Initial Investment	339
Land	84
Building and Improvements	463
Total Investment in Real Estate	547
Accumulated Depreciation and Amortization	$ 229
Date of Initial Leasehold or Acquisition Investment	1982
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Meriden Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,532
Land	989
Building and Improvements	543
Total Investment in Real Estate	1,532
Accumulated Depreciation and Amortization	$ 269
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Middletown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 132
Cost Capitalized Subsequent to Initial Investment	564
Land	131
Building and Improvements	565
Total Investment in Real Estate	696
Accumulated Depreciation and Amortization	$ 242
Date of Initial Leasehold or Acquisition Investment	1987
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Middletown Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,039
Land	675
Building and Improvements	364
Total Investment in Real Estate	1,039
Accumulated Depreciation and Amortization	$ 177
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Milford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 293
Cost Capitalized Subsequent to Initial Investment	45
Land	191
Building and Improvements	147
Total Investment in Real Estate	338
Accumulated Depreciation and Amortization	$ 120
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Milford Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 57
Cost Capitalized Subsequent to Initial Investment	295
Land	30
Building and Improvements	322
Total Investment in Real Estate	352
Accumulated Depreciation and Amortization	$ 103
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Montville [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 57
Cost Capitalized Subsequent to Initial Investment	332
Land	24
Building and Improvements	365
Total Investment in Real Estate	389
Accumulated Depreciation and Amortization	$ 146
Date of Initial Leasehold or Acquisition Investment	1982
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | New Britain One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 391
Land	254
Building and Improvements	137
Total Investment in Real Estate	391
Accumulated Depreciation and Amortization	$ 67
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | New Haven One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 217
Cost Capitalized Subsequent to Initial Investment	297
Land	141
Building and Improvements	373
Total Investment in Real Estate	514
Accumulated Depreciation and Amortization	$ 135
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | New Haven Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 539
Cost Capitalized Subsequent to Initial Investment	454
Land	351
Building and Improvements	642
Total Investment in Real Estate	993
Accumulated Depreciation and Amortization	$ 373
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | New Haven Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,414
Cost Capitalized Subsequent to Initial Investment	(275)
Land	569
Building and Improvements	570
Total Investment in Real Estate	1,139
Accumulated Depreciation and Amortization	$ 99
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Newington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 954
Land	620
Building and Improvements	334
Total Investment in Real Estate	954
Accumulated Depreciation and Amortization	$ 162
Date of Initial Leasehold or Acquisition Investment	2004

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 6 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | North Haven One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	405
Land	252
Building and Improvements	153
Total Investment in Real Estate	405
Accumulated Depreciation and Amortization	$ 84
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Norwalk One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 511
Cost Capitalized Subsequent to Initial Investment	45
Land	332
Building and Improvements	224
Total Investment in Real Estate	556
Accumulated Depreciation and Amortization	$ 181
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Norwalk Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 942
Land	402
Building and Improvements	540
Total Investment in Real Estate	942
Accumulated Depreciation and Amortization	$ 188
Date of Initial Leasehold or Acquisition Investment	1988
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Norwich [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 107
Cost Capitalized Subsequent to Initial Investment	323
Land	44
Building and Improvements	386
Total Investment in Real Estate	430
Accumulated Depreciation and Amortization	$ 172
Date of Initial Leasehold or Acquisition Investment	1982
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Old Greenwich One [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 1,223
Land	620
Building and Improvements	603
Total Investment in Real Estate	1,223
Accumulated Depreciation and Amortization	$ 194
Date of Initial Leasehold or Acquisition Investment	1969
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Plainville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 545
Land	354
Building and Improvements	191
Total Investment in Real Estate	545
Accumulated Depreciation and Amortization	$ 93
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Plymouth One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 931
Land	605
Building and Improvements	326
Total Investment in Real Estate	931
Accumulated Depreciation and Amortization	$ 159
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Ridgefield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 402
Cost Capitalized Subsequent to Initial Investment	304
Land	167
Building and Improvements	539
Total Investment in Real Estate	706
Accumulated Depreciation and Amortization	$ 324
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Ridgefield Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 536
Cost Capitalized Subsequent to Initial Investment	466
Land	348
Building and Improvements	654
Total Investment in Real Estate	1,002
Accumulated Depreciation and Amortization	$ 318
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | South Windham One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 644
Cost Capitalized Subsequent to Initial Investment	1,398
Land	598
Building and Improvements	1,444
Total Investment in Real Estate	2,042
Accumulated Depreciation and Amortization	$ 548
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | South Windsor One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 545
Land	337
Building and Improvements	208
Total Investment in Real Estate	545
Accumulated Depreciation and Amortization	$ 115
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Stamford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 507
Cost Capitalized Subsequent to Initial Investment	16
Land	330
Building and Improvements	193
Total Investment in Real Estate	523
Accumulated Depreciation and Amortization	$ 150
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Stamford Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 603
Cost Capitalized Subsequent to Initial Investment	343
Land	393
Building and Improvements	553
Total Investment in Real Estate	946
Accumulated Depreciation and Amortization	$ 265
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Stamford Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 508
Cost Capitalized Subsequent to Initial Investment	476
Land	330
Building and Improvements	654
Total Investment in Real Estate	984
Accumulated Depreciation and Amortization	$ 260
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Suffield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 237
Cost Capitalized Subsequent to Initial Investment	603
Land	201
Building and Improvements	639
Total Investment in Real Estate	840
Accumulated Depreciation and Amortization	$ 481
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Toll [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 108
Cost Capitalized Subsequent to Initial Investment	379
Land	44
Building and Improvements	443
Total Investment in Real Estate	487
Accumulated Depreciation and Amortization	$ 220
Date of Initial Leasehold or Acquisition Investment	1982
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Vernon One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,434
Building and Improvements	1,434
Total Investment in Real Estate	1,434
Accumulated Depreciation and Amortization	$ 1,434
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Wallingford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 551
Land	335
Building and Improvements	216
Total Investment in Real Estate	551
Accumulated Depreciation and Amortization	$ 123
Date of Initial Leasehold or Acquisition Investment	2004

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 7 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Waterbury One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	469
Land	305
Building and Improvements	164
Total Investment in Real Estate	469
Accumulated Depreciation and Amortization	$ 80
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Waterbury Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 515
Land	335
Building and Improvements	180
Total Investment in Real Estate	515
Accumulated Depreciation and Amortization	$ 88
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Waterbury Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 804
Land	516
Building and Improvements	288
Total Investment in Real Estate	804
Accumulated Depreciation and Amortization	$ 145
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Watertown Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 352
Cost Capitalized Subsequent to Initial Investment	343
Land	204
Building and Improvements	491
Total Investment in Real Estate	695
Accumulated Depreciation and Amortization	$ 215
Date of Initial Leasehold or Acquisition Investment	1992
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Watertown Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 925
Land	567
Building and Improvements	358
Total Investment in Real Estate	925
Accumulated Depreciation and Amortization	$ 201
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | West Haven One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 185
Cost Capitalized Subsequent to Initial Investment	322
Land	74
Building and Improvements	433
Total Investment in Real Estate	507
Accumulated Depreciation and Amortization	$ 214
Date of Initial Leasehold or Acquisition Investment	1982
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | West Haven Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,215
Land	790
Building and Improvements	425
Total Investment in Real Estate	1,215
Accumulated Depreciation and Amortization	$ 207
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Westbrook One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 345
Building and Improvements	345
Total Investment in Real Estate	345
Accumulated Depreciation and Amortization	$ 345
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Westport One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 604
Cost Capitalized Subsequent to Initial Investment	12
Land	393
Building and Improvements	223
Total Investment in Real Estate	616
Accumulated Depreciation and Amortization	$ 172
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Wethersfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 447
Building and Improvements	447
Total Investment in Real Estate	447
Accumulated Depreciation and Amortization	$ 447
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Willimantic One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 717
Land	466
Building and Improvements	251
Total Investment in Real Estate	717
Accumulated Depreciation and Amortization	$ 122
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Wilton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 519
Cost Capitalized Subsequent to Initial Investment	364
Land	338
Building and Improvements	545
Total Investment in Real Estate	883
Accumulated Depreciation and Amortization	$ 242
Date of Initial Leasehold or Acquisition Investment	1985
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Windsor Locks One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,031
Land	670
Building and Improvements	361
Total Investment in Real Estate	1,031
Accumulated Depreciation and Amortization	$ 176
Date of Initial Leasehold or Acquisition Investment	2004
CONNECTICUT | Accumulated Depreciation And Amortization Description [Member] | Windsor Locks Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,434
Cost Capitalized Subsequent to Initial Investment	1,400
Land	1,055
Building and Improvements	1,779
Total Investment in Real Estate	2,834
Accumulated Depreciation and Amortization	$ 1,453
Date of Initial Leasehold or Acquisition Investment	2004
DISTRICT OF COLUMBIA | Accumulated Depreciation And Amortization Description [Member] | Washington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 848
Land	418
Building and Improvements	430
Total Investment in Real Estate	848
Accumulated Depreciation and Amortization	$ 79
Date of Initial Leasehold or Acquisition Investment	2013
DISTRICT OF COLUMBIA | Accumulated Depreciation And Amortization Description [Member] | Washington Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 941
Land	664
Building and Improvements	277
Total Investment in Real Estate	941
Accumulated Depreciation and Amortization	$ 58
Date of Initial Leasehold or Acquisition Investment	2013
FLORIDA | Accumulated Depreciation And Amortization Description [Member] | Orlando One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 868
Cost Capitalized Subsequent to Initial Investment	33
Land	401
Building and Improvements	500
Total Investment in Real Estate	901
Accumulated Depreciation and Amortization	$ 333
Date of Initial Leasehold or Acquisition Investment	2000

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 8 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Haleiwa One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	1,522
Land	1,058
Building and Improvements	464
Total Investment in Real Estate	1,522
Accumulated Depreciation and Amortization	$ 300
Date of Initial Leasehold or Acquisition Investment	2007
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Honolulu One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,069
Cost Capitalized Subsequent to Initial Investment	16
Land	981
Building and Improvements	104
Total Investment in Real Estate	1,085
Accumulated Depreciation and Amortization	$ 75
Date of Initial Leasehold or Acquisition Investment	2007
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Honolulu Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,539
Land	1,219
Building and Improvements	320
Total Investment in Real Estate	1,539
Accumulated Depreciation and Amortization	$ 162
Date of Initial Leasehold or Acquisition Investment	2007
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Honolulu Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,769
Land	1,192
Building and Improvements	577
Total Investment in Real Estate	1,769
Accumulated Depreciation and Amortization	$ 269
Date of Initial Leasehold or Acquisition Investment	2007
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Honolulu Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 9,211
Land	8,194
Building and Improvements	1,017
Total Investment in Real Estate	9,211
Accumulated Depreciation and Amortization	$ 490
Date of Initial Leasehold or Acquisition Investment	2007
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Kaneohe One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,364
Land	822
Building and Improvements	542
Total Investment in Real Estate	1,364
Accumulated Depreciation and Amortization	$ 295
Date of Initial Leasehold or Acquisition Investment	2007
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Kaneohe Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,978
Cost Capitalized Subsequent to Initial Investment	182
Land	1,473
Building and Improvements	687
Total Investment in Real Estate	2,160
Accumulated Depreciation and Amortization	$ 297
Date of Initial Leasehold or Acquisition Investment	2007
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Waianae One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,520
Land	648
Building and Improvements	872
Total Investment in Real Estate	1,520
Accumulated Depreciation and Amortization	$ 406
Date of Initial Leasehold or Acquisition Investment	2007
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Waianae Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,997
Land	871
Building and Improvements	1,126
Total Investment in Real Estate	1,997
Accumulated Depreciation and Amortization	$ 527
Date of Initial Leasehold or Acquisition Investment	2007
HAWAII | Accumulated Depreciation And Amortization Description [Member] | Waipahu One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,458
Land	945
Building and Improvements	1,513
Total Investment in Real Estate	2,458
Accumulated Depreciation and Amortization	$ 676
Date of Initial Leasehold or Acquisition Investment	2007
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Arlington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 518
Cost Capitalized Subsequent to Initial Investment	28
Land	338
Building and Improvements	208
Total Investment in Real Estate	546
Accumulated Depreciation and Amortization	$ 164
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Auburn One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 174
Cost Capitalized Subsequent to Initial Investment	213
Land	125
Building and Improvements	262
Total Investment in Real Estate	387
Accumulated Depreciation and Amortization	$ 122
Date of Initial Leasehold or Acquisition Investment	1986
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Auburn Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 535
Land	388
Building and Improvements	147
Total Investment in Real Estate	535
Accumulated Depreciation and Amortization	$ 29
Date of Initial Leasehold or Acquisition Investment	1996
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Auburn Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 600
Land	600
Total Investment in Real Estate	$ 600
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Auburn Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 625
Land	625
Total Investment in Real Estate	$ 625
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Auburn Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 369
Cost Capitalized Subsequent to Initial Investment	264
Land	240
Building and Improvements	393
Total Investment in Real Estate	633
Accumulated Depreciation and Amortization	$ 182
Date of Initial Leasehold or Acquisition Investment	1991
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Auburn Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 725
Land	725
Total Investment in Real Estate	$ 725
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Auburn Seven [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 800
Building and Improvements	800
Total Investment in Real Estate	800
Accumulated Depreciation and Amortization	$ 442
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Barre One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 536
Cost Capitalized Subsequent to Initial Investment	12
Land	348
Building and Improvements	200
Total Investment in Real Estate	548
Accumulated Depreciation and Amortization	$ 111
Date of Initial Leasehold or Acquisition Investment	1991
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Bedford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,350
Land	1,350
Total Investment in Real Estate	$ 1,350
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Bellingham One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 734
Cost Capitalized Subsequent to Initial Investment	73
Land	476
Building and Improvements	331
Total Investment in Real Estate	807
Accumulated Depreciation and Amortization	$ 269
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Belmont One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 390
Cost Capitalized Subsequent to Initial Investment	29
Land	254
Building and Improvements	165
Total Investment in Real Estate	419
Accumulated Depreciation and Amortization	$ 132
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Bradford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 650
Land	650
Total Investment in Real Estate	$ 650
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Burlington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 600
Land	600
Total Investment in Real Estate	$ 600
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Burlington Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,250
Land	1,250
Total Investment in Real Estate	$ 1,250
Date of Initial Leasehold or Acquisition Investment	2011

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 9 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Chelmsford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	715
Building and Improvements	715
Total Investment in Real Estate	715
Accumulated Depreciation and Amortization	$ 231
Date of Initial Leasehold or Acquisition Investment	2012
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Danvers One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 400
Land	400
Total Investment in Real Estate	$ 400
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Dracut One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 450
Land	450
Total Investment in Real Estate	$ 450
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Falmouth One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 519
Cost Capitalized Subsequent to Initial Investment	127
Land	458
Building and Improvements	188
Total Investment in Real Estate	646
Accumulated Depreciation and Amortization	$ 121
Date of Initial Leasehold or Acquisition Investment	1988
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Fitchburg One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 390
Cost Capitalized Subsequent to Initial Investment	33
Land	254
Building and Improvements	169
Total Investment in Real Estate	423
Accumulated Depreciation and Amortization	$ 107
Date of Initial Leasehold or Acquisition Investment	1992
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Foxborough One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 427
Cost Capitalized Subsequent to Initial Investment	98
Land	325
Building and Improvements	200
Total Investment in Real Estate	525
Accumulated Depreciation and Amortization	$ 135
Date of Initial Leasehold or Acquisition Investment	1990
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Framingham One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 400
Cost Capitalized Subsequent to Initial Investment	23
Land	260
Building and Improvements	163
Total Investment in Real Estate	423
Accumulated Depreciation and Amortization	$ 100
Date of Initial Leasehold or Acquisition Investment	1991
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Gardner One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 550
Land	550
Total Investment in Real Estate	$ 550
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Gardner Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,008
Cost Capitalized Subsequent to Initial Investment	282
Land	657
Building and Improvements	633
Total Investment in Real Estate	1,290
Accumulated Depreciation and Amortization	$ 416
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Gardners One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 787
Land	638
Building and Improvements	149
Total Investment in Real Estate	787
Accumulated Depreciation and Amortization	$ 23
Date of Initial Leasehold or Acquisition Investment	2014
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Hingham One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 353
Cost Capitalized Subsequent to Initial Investment	111
Land	243
Building and Improvements	221
Total Investment in Real Estate	464
Accumulated Depreciation and Amortization	$ 152
Date of Initial Leasehold or Acquisition Investment	1989
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Hyde Park One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 499
Cost Capitalized Subsequent to Initial Investment	157
Land	322
Building and Improvements	334
Total Investment in Real Estate	656
Accumulated Depreciation and Amortization	$ 194
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Leominster One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 571
Land	199
Building and Improvements	372
Total Investment in Real Estate	571
Accumulated Depreciation and Amortization	$ 89
Date of Initial Leasehold or Acquisition Investment	2012
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Lowell One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 375
Cost Capitalized Subsequent to Initial Investment	9
Land	250
Building and Improvements	134
Total Investment in Real Estate	384
Accumulated Depreciation and Amortization	$ 134
Date of Initial Leasehold or Acquisition Investment	1986
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Lowell Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 361
Cost Capitalized Subsequent to Initial Investment	90
Land	201
Building and Improvements	250
Total Investment in Real Estate	451
Accumulated Depreciation and Amortization	$ 246
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Lowell Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 619
Land	429
Building and Improvements	190
Total Investment in Real Estate	619
Accumulated Depreciation and Amortization	$ 37
Date of Initial Leasehold or Acquisition Investment	1996
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Lynn One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 400
Land	400
Total Investment in Real Estate	$ 400
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Lynn Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 850
Land	850
Total Investment in Real Estate	$ 850
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Marlborough One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 550
Land	550
Total Investment in Real Estate	$ 550
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Maynard One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 736
Cost Capitalized Subsequent to Initial Investment	98
Land	479
Building and Improvements	355
Total Investment in Real Estate	834
Accumulated Depreciation and Amortization	$ 219
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Melrose One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 600
Land	600
Total Investment in Real Estate	$ 600
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Methuen One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 300
Cost Capitalized Subsequent to Initial Investment	134
Land	150
Building and Improvements	284
Total Investment in Real Estate	434
Accumulated Depreciation and Amortization	$ 217
Date of Initial Leasehold or Acquisition Investment	1986
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Methuen Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 380
Cost Capitalized Subsequent to Initial Investment	64
Land	246
Building and Improvements	198
Total Investment in Real Estate	444
Accumulated Depreciation and Amortization	$ 166
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Methuen Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 491
Cost Capitalized Subsequent to Initial Investment	97
Land	319
Building and Improvements	269
Total Investment in Real Estate	588
Accumulated Depreciation and Amortization	$ 162
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Methuen Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 650
Land	650
Total Investment in Real Estate	$ 650
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Newton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 691
Cost Capitalized Subsequent to Initial Investment	124
Land	450
Building and Improvements	365
Total Investment in Real Estate	815
Accumulated Depreciation and Amortization	$ 268
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | North Andover One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 394
Cost Capitalized Subsequent to Initial Investment	32
Land	256
Building and Improvements	170
Total Investment in Real Estate	426
Accumulated Depreciation and Amortization	$ 137
Date of Initial Leasehold or Acquisition Investment	1985

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 10 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Peabody One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	400
Cost Capitalized Subsequent to Initial Investment	18
Land	252
Building and Improvements	166
Total Investment in Real Estate	418
Accumulated Depreciation and Amortization	$ 166
Date of Initial Leasehold or Acquisition Investment	1986
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Peabody Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 550
Land	550
Total Investment in Real Estate	$ 550
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Peabody Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 650
Land	650
Total Investment in Real Estate	$ 650
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Randolph One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 573
Cost Capitalized Subsequent to Initial Investment	238
Land	430
Building and Improvements	381
Total Investment in Real Estate	811
Accumulated Depreciation and Amortization	$ 228
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Revere One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,300
Land	1,300
Total Investment in Real Estate	$ 1,300
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Rockland One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 579
Cost Capitalized Subsequent to Initial Investment	45
Land	377
Building and Improvements	247
Total Investment in Real Estate	624
Accumulated Depreciation and Amortization	$ 198
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Salem One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 600
Land	600
Total Investment in Real Estate	$ 600
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Seekonk One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,073
Cost Capitalized Subsequent to Initial Investment	(261)
Land	576
Building and Improvements	236
Total Investment in Real Estate	812
Accumulated Depreciation and Amortization	$ 88
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Shrewsbury One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 400
Land	400
Total Investment in Real Estate	$ 400
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Shrewsbury Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 450
Land	450
Total Investment in Real Estate	$ 450
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Sterling One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 476
Cost Capitalized Subsequent to Initial Investment	2
Land	309
Building and Improvements	169
Total Investment in Real Estate	478
Accumulated Depreciation and Amortization	$ 94
Date of Initial Leasehold or Acquisition Investment	1991
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Sutton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 714
Cost Capitalized Subsequent to Initial Investment	62
Land	464
Building and Improvements	312
Total Investment in Real Estate	776
Accumulated Depreciation and Amortization	$ 199
Date of Initial Leasehold or Acquisition Investment	1993
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Tewksbury One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 125
Cost Capitalized Subsequent to Initial Investment	506
Land	75
Building and Improvements	556
Total Investment in Real Estate	631
Accumulated Depreciation and Amortization	$ 170
Date of Initial Leasehold or Acquisition Investment	1986
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Tewksbury Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,200
Land	1,200
Total Investment in Real Estate	$ 1,200
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Upton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 428
Cost Capitalized Subsequent to Initial Investment	115
Land	279
Building and Improvements	264
Total Investment in Real Estate	543
Accumulated Depreciation and Amortization	$ 125
Date of Initial Leasehold or Acquisition Investment	1991
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Wakefield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 900
Land	900
Total Investment in Real Estate	$ 900
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Walpole One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 450
Cost Capitalized Subsequent to Initial Investment	92
Land	293
Building and Improvements	249
Total Investment in Real Estate	542
Accumulated Depreciation and Amortization	$ 146
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Watertown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 358
Cost Capitalized Subsequent to Initial Investment	211
Land	321
Building and Improvements	248
Total Investment in Real Estate	569
Accumulated Depreciation and Amortization	$ 142
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Webster One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,012
Cost Capitalized Subsequent to Initial Investment	618
Land	659
Building and Improvements	971
Total Investment in Real Estate	1,630
Accumulated Depreciation and Amortization	$ 474
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | West Boylston One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 312
Cost Capitalized Subsequent to Initial Investment	29
Land	203
Building and Improvements	138
Total Investment in Real Estate	341
Accumulated Depreciation and Amortization	$ 89
Date of Initial Leasehold or Acquisition Investment	1991
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | West Roxbury One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 491
Cost Capitalized Subsequent to Initial Investment	86
Land	319
Building and Improvements	258
Total Investment in Real Estate	577
Accumulated Depreciation and Amortization	$ 181
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Westborough One[Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 312
Cost Capitalized Subsequent to Initial Investment	21
Land	203
Building and Improvements	130
Total Investment in Real Estate	333
Accumulated Depreciation and Amortization	$ 81
Date of Initial Leasehold or Acquisition Investment	1991
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Westborough Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 450
Land	450
Total Investment in Real Estate	$ 450
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Westford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 275
Cost Capitalized Subsequent to Initial Investment	81
Land	175
Building and Improvements	181
Total Investment in Real Estate	356
Accumulated Depreciation and Amortization	$ 142
Date of Initial Leasehold or Acquisition Investment	1986
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Wilmington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 600
Land	600
Total Investment in Real Estate	$ 600
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Wilmington Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,300
Land	1,300
Total Investment in Real Estate	$ 1,300
Date of Initial Leasehold or Acquisition Investment	2011

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 11 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Woburn One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	350
Cost Capitalized Subsequent to Initial Investment	63
Land	200
Building and Improvements	213
Total Investment in Real Estate	413
Accumulated Depreciation and Amortization	$ 201
Date of Initial Leasehold or Acquisition Investment	1986
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Woburn Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 508
Cost Capitalized Subsequent to Initial Investment	394
Land	508
Building and Improvements	394
Total Investment in Real Estate	902
Accumulated Depreciation and Amortization	$ 250
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Worcester One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 400
Land	400
Total Investment in Real Estate	$ 400
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Worcester Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 500
Land	500
Total Investment in Real Estate	$ 500
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Worcester Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 550
Land	550
Total Investment in Real Estate	$ 550
Date of Initial Leasehold or Acquisition Investment	2011
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Worcester Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 547
Cost Capitalized Subsequent to Initial Investment	11
Land	356
Building and Improvements	202
Total Investment in Real Estate	558
Accumulated Depreciation and Amortization	$ 115
Date of Initial Leasehold or Acquisition Investment	1991
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Worcester Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 498
Cost Capitalized Subsequent to Initial Investment	330
Land	322
Building and Improvements	506
Total Investment in Real Estate	828
Accumulated Depreciation and Amortization	$ 261
Date of Initial Leasehold or Acquisition Investment	1985
MASSACHUSETTS | Accumulated Depreciation And Amortization Description [Member] | Worcester Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 979
Cost Capitalized Subsequent to Initial Investment	7
Land	636
Building and Improvements	350
Total Investment in Real Estate	986
Accumulated Depreciation and Amortization	$ 195
Date of Initial Leasehold or Acquisition Investment	1991
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Accokeek One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 692
Land	692
Total Investment in Real Estate	$ 692
Date of Initial Leasehold or Acquisition Investment	2010
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Baltimore One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 802
Building and Improvements	802
Total Investment in Real Estate	802
Accumulated Depreciation and Amortization	$ 392
Date of Initial Leasehold or Acquisition Investment	2007
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Baltimore Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,259
Land	722
Building and Improvements	1,537
Total Investment in Real Estate	2,259
Accumulated Depreciation and Amortization	$ 701
Date of Initial Leasehold or Acquisition Investment	2007
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Beltsville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 525
Land	525
Total Investment in Real Estate	$ 525
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Beltsville Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 731
Land	731
Total Investment in Real Estate	$ 731
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Beltsville Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,050
Land	1,050
Total Investment in Real Estate	$ 1,050
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Beltsville Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,130
Land	1,130
Total Investment in Real Estate	$ 1,130
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Bladensburg One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 571
Land	571
Total Investment in Real Estate	$ 571
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Bowie One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,084
Land	1,084
Total Investment in Real Estate	$ 1,084
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Capitol Heights One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 628
Land	628
Total Investment in Real Estate	$ 628
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Clinton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 651
Land	651
Total Investment in Real Estate	$ 651
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | College Park One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 445
Land	445
Total Investment in Real Estate	$ 445
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | College Park Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 536
Land	536
Total Investment in Real Estate	$ 536
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | District Heights One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 388
Land	388
Total Investment in Real Estate	$ 388
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | District Heights Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 479
Land	479
Total Investment in Real Estate	$ 479
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Ellicott City One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 895
Building and Improvements	895
Total Investment in Real Estate	895
Accumulated Depreciation and Amortization	$ 460
Date of Initial Leasehold or Acquisition Investment	2007

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 12 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Emmitsburg One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	147
Cost Capitalized Subsequent to Initial Investment	191
Land	102
Building and Improvements	236
Total Investment in Real Estate	338
Accumulated Depreciation and Amortization	$ 154
Date of Initial Leasehold or Acquisition Investment	1986
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Forestville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,039
Land	1,039
Total Investment in Real Estate	$ 1,039
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Fort Washington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 422
Land	422
Total Investment in Real Estate	$ 422
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Greenbelt One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,153
Land	1,153
Total Investment in Real Estate	$ 1,153
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Hyattsville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 491
Land	491
Total Investment in Real Estate	$ 491
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Hyattsville Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 594
Land	594
Total Investment in Real Estate	$ 594
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Landover One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 662
Land	662
Total Investment in Real Estate	$ 662
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Landover Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 753
Land	753
Total Investment in Real Estate	$ 753
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Landover Hills One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 457
Land	457
Total Investment in Real Estate	$ 457
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Landover Hills Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,358
Land	1,358
Total Investment in Real Estate	$ 1,358
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Lanham One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 822
Land	822
Total Investment in Real Estate	$ 822
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Laurel One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 696
Land	696
Total Investment in Real Estate	$ 696
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Laurel Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,210
Land	1,210
Total Investment in Real Estate	$ 1,210
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Laurel Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,267
Land	1,267
Total Investment in Real Estate	$ 1,267
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Laurel Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,415
Land	1,415
Total Investment in Real Estate	$ 1,415
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Laurel Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,530
Land	1,530
Total Investment in Real Estate	$ 1,530
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Laurel Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,523
Land	2,523
Total Investment in Real Estate	$ 2,523
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Oxon Hill One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,256
Land	1,256
Total Investment in Real Estate	$ 1,256
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Riverdale One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 582
Land	582
Total Investment in Real Estate	$ 582
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Riverdale Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 788
Land	788
Total Investment in Real Estate	$ 788
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Seat Pleasant One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 468
Land	468
Total Investment in Real Estate	$ 468
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Suitland One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 377
Land	377
Total Investment in Real Estate	$ 377
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Suitland Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 673
Land	673
Total Investment in Real Estate	$ 673
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Temple Hills One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 331
Land	331
Total Investment in Real Estate	$ 331
Date of Initial Leasehold or Acquisition Investment	2009
MARYLAND | Accumulated Depreciation And Amortization Description [Member] | Upper Marlboro One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 845
Land	845
Total Investment in Real Estate	$ 845
Date of Initial Leasehold or Acquisition Investment	2009
MAINE | Accumulated Depreciation And Amortization Description [Member] | Biddeford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 618
Cost Capitalized Subsequent to Initial Investment	8
Land	235
Building and Improvements	391
Total Investment in Real Estate	626
Accumulated Depreciation and Amortization	$ 391
Date of Initial Leasehold or Acquisition Investment	1985
MAINE | Accumulated Depreciation And Amortization Description [Member] | Lewiston One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 342
Cost Capitalized Subsequent to Initial Investment	188
Land	222
Building and Improvements	308
Total Investment in Real Estate	530
Accumulated Depreciation and Amortization	$ 200
Date of Initial Leasehold or Acquisition Investment	1985
NORTH CAROLINA | Accumulated Depreciation And Amortization Description [Member] | Kernersville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 449
Land	338
Building and Improvements	111
Total Investment in Real Estate	449
Accumulated Depreciation and Amortization	$ 102
Date of Initial Leasehold or Acquisition Investment	2007
NORTH CAROLINA | Accumulated Depreciation And Amortization Description [Member] | Madison One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 396
Land	46
Building and Improvements	350
Total Investment in Real Estate	396
Accumulated Depreciation and Amortization	$ 185
Date of Initial Leasehold or Acquisition Investment	2007

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 13 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
NORTH CAROLINA | Accumulated Depreciation And Amortization Description [Member] | New Bern One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	350
Cost Capitalized Subsequent to Initial Investment	83
Land	190
Building and Improvements	243
Total Investment in Real Estate	433
Accumulated Depreciation and Amortization	$ 143
Date of Initial Leasehold or Acquisition Investment	2007
NORTH DAKOTA | Accumulated Depreciation And Amortization Description [Member] | Belfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,232
Land	382
Building and Improvements	850
Total Investment in Real Estate	1,232
Accumulated Depreciation and Amortization	$ 727
Date of Initial Leasehold or Acquisition Investment	2007
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Allenstown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,787
Land	467
Building and Improvements	1,320
Total Investment in Real Estate	1,787
Accumulated Depreciation and Amortization	$ 670
Date of Initial Leasehold or Acquisition Investment	2007
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Concord One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 675
Land	675
Total Investment in Real Estate	$ 675
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Concord Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 900
Land	900
Total Investment in Real Estate	$ 900
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Derry One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 418
Cost Capitalized Subsequent to Initial Investment	17
Land	158
Building and Improvements	277
Total Investment in Real Estate	435
Accumulated Depreciation and Amortization	$ 275
Date of Initial Leasehold or Acquisition Investment	1987
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Derry Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 950
Land	950
Total Investment in Real Estate	$ 950
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Dover One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 650
Land	650
Total Investment in Real Estate	$ 650
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Dover Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,200
Land	1,200
Total Investment in Real Estate	$ 1,200
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Goffstown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,737
Land	697
Building and Improvements	1,040
Total Investment in Real Estate	1,737
Accumulated Depreciation and Amortization	$ 327
Date of Initial Leasehold or Acquisition Investment	2012
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Hooksett One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,562
Land	824
Building and Improvements	738
Total Investment in Real Estate	1,562
Accumulated Depreciation and Amortization	$ 651
Date of Initial Leasehold or Acquisition Investment	2007
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Kingston One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,500
Land	1,500
Total Investment in Real Estate	$ 1,500
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Londonderry One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 703
Cost Capitalized Subsequent to Initial Investment	30
Land	458
Building and Improvements	275
Total Investment in Real Estate	733
Accumulated Depreciation and Amortization	$ 216
Date of Initial Leasehold or Acquisition Investment	1985
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Londonderry Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,100
Land	1,100
Total Investment in Real Estate	$ 1,100
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Manchester One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 550
Land	550
Total Investment in Real Estate	$ 550
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Milford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 190
Cost Capitalized Subsequent to Initial Investment	147
Land	115
Building and Improvements	222
Total Investment in Real Estate	337
Accumulated Depreciation and Amortization	$ 138
Date of Initial Leasehold or Acquisition Investment	1986
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Nashua One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 500
Land	500
Total Investment in Real Estate	$ 500
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Nashua Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 550
Land	550
Total Investment in Real Estate	$ 550
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Nashua Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 750
Land	750
Total Investment in Real Estate	$ 750
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Nashua Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 825
Land	825
Total Investment in Real Estate	$ 825
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Nashua Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,750
Land	1,750
Total Investment in Real Estate	$ 1,750
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Northwood One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 500
Land	500
Total Investment in Real Estate	$ 500
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Pelham One [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 730
Land	317
Building and Improvements	413
Total Investment in Real Estate	730
Accumulated Depreciation and Amortization	$ 69
Date of Initial Leasehold or Acquisition Investment	1996
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Plaistow One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 300
Cost Capitalized Subsequent to Initial Investment	101
Land	245
Building and Improvements	156
Total Investment in Real Estate	401
Accumulated Depreciation and Amortization	$ 155
Date of Initial Leasehold or Acquisition Investment	1987
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Portsmouth One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 525
Land	525
Total Investment in Real Estate	$ 525
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Raymond One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 550
Land	550
Total Investment in Real Estate	$ 550
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Rochester One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 700
Land	700
Total Investment in Real Estate	$ 700
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Rochester Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 939
Cost Capitalized Subsequent to Initial Investment	12
Land	600
Building and Improvements	351
Total Investment in Real Estate	951
Accumulated Depreciation and Amortization	$ 269
Date of Initial Leasehold or Acquisition Investment	1985
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Rochester Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,400
Land	1,400
Total Investment in Real Estate	$ 1,400
Date of Initial Leasehold or Acquisition Investment	2011
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Rochester Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,600
Land	1,600
Total Investment in Real Estate	$ 1,600
Date of Initial Leasehold or Acquisition Investment	2011

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 14 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Salem One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	744
Cost Capitalized Subsequent to Initial Investment	18
Land	484
Building and Improvements	278
Total Investment in Real Estate	762
Accumulated Depreciation and Amortization	$ 215
Date of Initial Leasehold or Acquisition Investment	1985
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Salem Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 450
Cost Capitalized Subsequent to Initial Investment	880
Land	350
Building and Improvements	980
Total Investment in Real Estate	1,330
Accumulated Depreciation and Amortization	$ 43
Date of Initial Leasehold or Acquisition Investment	1986
NEW HAMPSHIRE | Accumulated Depreciation And Amortization Description [Member] | Rochester One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 700
Land	700
Total Investment in Real Estate	$ 700
Date of Initial Leasehold or Acquisition Investment	2011
NJ | Accumulated Depreciation And Amortization Description [Member] | Basking Ridge One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 362
Cost Capitalized Subsequent to Initial Investment	287
Land	200
Building and Improvements	449
Total Investment in Real Estate	649
Accumulated Depreciation and Amortization	$ 221
Date of Initial Leasehold or Acquisition Investment	1986
NJ | Accumulated Depreciation And Amortization Description [Member] | Bergenfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 382
Cost Capitalized Subsequent to Initial Investment	331
Land	300
Building and Improvements	413
Total Investment in Real Estate	713
Accumulated Depreciation and Amortization	$ 166
Date of Initial Leasehold or Acquisition Investment	1990
NJ | Accumulated Depreciation And Amortization Description [Member] | Brick One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,508
Cost Capitalized Subsequent to Initial Investment	229
Land	1,000
Building and Improvements	737
Total Investment in Real Estate	1,737
Accumulated Depreciation and Amortization	$ 432
Date of Initial Leasehold or Acquisition Investment	2000
NJ | Accumulated Depreciation And Amortization Description [Member] | Colonia One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 720
Cost Capitalized Subsequent to Initial Investment	(297)
Land	72
Building and Improvements	351
Total Investment in Real Estate	423
Accumulated Depreciation and Amortization	$ 264
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Elizabeth One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 406
Cost Capitalized Subsequent to Initial Investment	62
Land	227
Building and Improvements	241
Total Investment in Real Estate	468
Accumulated Depreciation and Amortization	$ 149
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Flemington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 708
Cost Capitalized Subsequent to Initial Investment	(251)
Land	168
Building and Improvements	289
Total Investment in Real Estate	457
Accumulated Depreciation and Amortization	$ 62
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Flemington Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 547
Cost Capitalized Subsequent to Initial Investment	17
Land	346
Building and Improvements	218
Total Investment in Real Estate	564
Accumulated Depreciation and Amortization	$ 169
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Fort Lee One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,246
Cost Capitalized Subsequent to Initial Investment	362
Land	811
Building and Improvements	797
Total Investment in Real Estate	1,608
Accumulated Depreciation and Amortization	$ 439
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Franklin Twp One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 683
Cost Capitalized Subsequent to Initial Investment	195
Land	445
Building and Improvements	433
Total Investment in Real Estate	878
Accumulated Depreciation and Amortization	$ 305
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Freehold One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 494
Cost Capitalized Subsequent to Initial Investment	370
Land	95
Building and Improvements	769
Total Investment in Real Estate	864
Accumulated Depreciation and Amortization	$ 121
Date of Initial Leasehold or Acquisition Investment	1978
NJ | Accumulated Depreciation And Amortization Description [Member] | Green Village [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 277
Cost Capitalized Subsequent to Initial Investment	76
Land	128
Building and Improvements	225
Total Investment in Real Estate	353
Accumulated Depreciation and Amortization	$ 191
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Hasbrouck Heights One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 641
Cost Capitalized Subsequent to Initial Investment	440
Land	416
Building and Improvements	665
Total Investment in Real Estate	1,081
Accumulated Depreciation and Amortization	$ 350
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Hillsborough One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 237
Cost Capitalized Subsequent to Initial Investment	487
Land	100
Building and Improvements	624
Total Investment in Real Estate	724
Accumulated Depreciation and Amortization	$ 251
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Irvington [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 411
Cost Capitalized Subsequent to Initial Investment	(34)
Land	98
Building and Improvements	279
Total Investment in Real Estate	377
Accumulated Depreciation and Amortization	$ 31
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Lake Hopatcong One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,305
Land	800
Building and Improvements	505
Total Investment in Real Estate	1,305
Accumulated Depreciation and Amortization	$ 412
Date of Initial Leasehold or Acquisition Investment	2000
NJ | Accumulated Depreciation And Amortization Description [Member] | Livingston One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 871
Cost Capitalized Subsequent to Initial Investment	294
Land	568
Building and Improvements	597
Total Investment in Real Estate	1,165
Accumulated Depreciation and Amortization	$ 314
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Long Branch One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 514
Cost Capitalized Subsequent to Initial Investment	437
Land	335
Building and Improvements	616
Total Investment in Real Estate	951
Accumulated Depreciation and Amortization	$ 228
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Mcafee One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 672
Cost Capitalized Subsequent to Initial Investment	268
Land	437
Building and Improvements	503
Total Investment in Real Estate	940
Accumulated Depreciation and Amortization	$ 240
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Midland Park One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 200
Cost Capitalized Subsequent to Initial Investment	333
Land	150
Building and Improvements	383
Total Investment in Real Estate	533
Accumulated Depreciation and Amortization	$ 181
Date of Initial Leasehold or Acquisition Investment	1989
NJ | Accumulated Depreciation And Amortization Description [Member] | Mountainside One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 665
Cost Capitalized Subsequent to Initial Investment	(172)
Land	134
Building and Improvements	359
Total Investment in Real Estate	493
Accumulated Depreciation and Amortization	$ 84
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | North Bergen One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 630
Cost Capitalized Subsequent to Initial Investment	151
Land	410
Building and Improvements	371
Total Investment in Real Estate	781
Accumulated Depreciation and Amortization	$ 265
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | North Plainfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 227
Cost Capitalized Subsequent to Initial Investment	576
Land	175
Building and Improvements	628
Total Investment in Real Estate	803
Accumulated Depreciation and Amortization	$ 386
Date of Initial Leasehold or Acquisition Investment	1978
NJ | Accumulated Depreciation And Amortization Description [Member] | Nutley One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 434
Cost Capitalized Subsequent to Initial Investment	199
Land	283
Building and Improvements	350
Total Investment in Real Estate	633
Accumulated Depreciation and Amortization	$ 194
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Paramus One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 382
Cost Capitalized Subsequent to Initial Investment	68
Land	249
Building and Improvements	201
Total Investment in Real Estate	450
Accumulated Depreciation and Amortization	$ 131
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Parlin One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 418
Cost Capitalized Subsequent to Initial Investment	157
Land	203
Building and Improvements	372
Total Investment in Real Estate	575
Accumulated Depreciation and Amortization	$ 84
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Paterson One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 620
Cost Capitalized Subsequent to Initial Investment	16
Land	403
Building and Improvements	233
Total Investment in Real Estate	636
Accumulated Depreciation and Amortization	$ 181
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Ridgefield Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 55
Cost Capitalized Subsequent to Initial Investment	280
Land	33
Building and Improvements	302
Total Investment in Real Estate	335
Accumulated Depreciation and Amortization	$ 112
Date of Initial Leasehold or Acquisition Investment	1980
NJ | Accumulated Depreciation And Amortization Description [Member] | Ridgewood One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 703
Cost Capitalized Subsequent to Initial Investment	386
Land	458
Building and Improvements	631
Total Investment in Real Estate	1,089
Accumulated Depreciation and Amortization	$ 304
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Somerville [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 253
Cost Capitalized Subsequent to Initial Investment	124
Land	201
Building and Improvements	176
Total Investment in Real Estate	377
Accumulated Depreciation and Amortization	$ 84
Date of Initial Leasehold or Acquisition Investment	1987
NJ | Accumulated Depreciation And Amortization Description [Member] | Trenton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,303
Land	1,146
Building and Improvements	157
Total Investment in Real Estate	1,303
Accumulated Depreciation and Amortization	$ 39
Date of Initial Leasehold or Acquisition Investment	2012
NJ | Accumulated Depreciation And Amortization Description [Member] | Union One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 437
Cost Capitalized Subsequent to Initial Investment	316
Land	239
Building and Improvements	514
Total Investment in Real Estate	753
Accumulated Depreciation and Amortization	$ 103
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Washington Township One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 912
Cost Capitalized Subsequent to Initial Investment	287
Land	594
Building and Improvements	605
Total Investment in Real Estate	1,199
Accumulated Depreciation and Amortization	$ 318
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | Watchung One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 449
Cost Capitalized Subsequent to Initial Investment	130
Land	226
Building and Improvements	353
Total Investment in Real Estate	579
Accumulated Depreciation and Amortization	$ 71
Date of Initial Leasehold or Acquisition Investment	1985
NJ | Accumulated Depreciation And Amortization Description [Member] | West Orange One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 800
Cost Capitalized Subsequent to Initial Investment	412
Land	521
Building and Improvements	691
Total Investment in Real Estate	1,212
Accumulated Depreciation and Amortization	$ 380
Date of Initial Leasehold or Acquisition Investment	1985
NEVADA | Accumulated Depreciation And Amortization Description [Member] | Fernley One Member
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,665
Land	221
Building and Improvements	1,444
Total Investment in Real Estate	1,665
Accumulated Depreciation and Amortization	$ 162
Date of Initial Leasehold or Acquisition Investment	2015
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Naples One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,257
Land	827
Building and Improvements	430
Total Investment in Real Estate	1,257
Accumulated Depreciation and Amortization	$ 186
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Perry One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,444
Land	1,044
Building and Improvements	400
Total Investment in Real Estate	1,444
Accumulated Depreciation and Amortization	$ 173
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Prattsburg One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 553
Land	303
Building and Improvements	250
Total Investment in Real Estate	553
Accumulated Depreciation and Amortization	$ 108
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Rochester One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 853
Land	303
Building and Improvements	550
Total Investment in Real Estate	853
Accumulated Depreciation and Amortization	$ 238
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Alfred Station One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 714
Land	414
Building and Improvements	300
Total Investment in Real Estate	714
Accumulated Depreciation and Amortization	$ 130
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Amherst One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 222
Cost Capitalized Subsequent to Initial Investment	247
Land	173
Building and Improvements	296
Total Investment in Real Estate	469
Accumulated Depreciation and Amortization	$ 90
Date of Initial Leasehold or Acquisition Investment	2000
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Astoria One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,684
Land	1,105
Building and Improvements	579
Total Investment in Real Estate	1,684
Accumulated Depreciation and Amortization	$ 122
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Avoca One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 936
Cost Capitalized Subsequent to Initial Investment	(1)
Land	635
Building and Improvements	300
Total Investment in Real Estate	935
Accumulated Depreciation and Amortization	$ 130
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Batavia One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 684
Land	364
Building and Improvements	320
Total Investment in Real Estate	684
Accumulated Depreciation and Amortization	$ 139
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bay Shore One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 156
Cost Capitalized Subsequent to Initial Investment	356
Land	86
Building and Improvements	426
Total Investment in Real Estate	512
Accumulated Depreciation and Amortization	$ 240
Date of Initial Leasehold or Acquisition Investment	1981
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bayside One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 470
Cost Capitalized Subsequent to Initial Investment	261
Land	306
Building and Improvements	425
Total Investment in Real Estate	731
Accumulated Depreciation and Amortization	$ 171
Date of Initial Leasehold or Acquisition Investment	1985

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 15 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bellaire One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	330
Cost Capitalized Subsequent to Initial Investment	37
Land	215
Building and Improvements	152
Total Investment in Real Estate	367
Accumulated Depreciation and Amortization	$ 125
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brewster One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 789
Land	789
Total Investment in Real Estate	$ 789
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Briarcliff Manor One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 652
Cost Capitalized Subsequent to Initial Investment	606
Land	502
Building and Improvements	756
Total Investment in Real Estate	1,258
Accumulated Depreciation and Amortization	$ 418
Date of Initial Leasehold or Acquisition Investment	1976
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronx One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 104
Cost Capitalized Subsequent to Initial Investment	226
Land	90
Building and Improvements	240
Total Investment in Real Estate	330
Accumulated Depreciation and Amortization	$ 233
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronx Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 423
Land	423
Total Investment in Real Estate	$ 423
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronx Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 391
Cost Capitalized Subsequent to Initial Investment	53
Land	251
Building and Improvements	193
Total Investment in Real Estate	444
Accumulated Depreciation and Amortization	$ 160
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronx Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 877
Land	877
Total Investment in Real Estate	$ 877
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronx Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 884
Land	884
Total Investment in Real Estate	$ 884
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronx Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 953
Land	953
Total Investment in Real Estate	$ 953
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronx Seven [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,049
Land	485
Building and Improvements	564
Total Investment in Real Estate	1,049
Accumulated Depreciation and Amortization	$ 119
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronx Eight [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,910
Land	1,349
Building and Improvements	561
Total Investment in Real Estate	1,910
Accumulated Depreciation and Amortization	$ 124
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronx Nine [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,408
Land	1,712
Building and Improvements	696
Total Investment in Real Estate	2,408
Accumulated Depreciation and Amortization	$ 138
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Bronxville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,232
Land	1,232
Total Investment in Real Estate	$ 1,232
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brooklyn One [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 396
Building and Improvements	396
Total Investment in Real Estate	396
Accumulated Depreciation and Amortization	$ 195
Date of Initial Leasehold or Acquisition Investment	1970
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brooklyn Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 100
Cost Capitalized Subsequent to Initial Investment	345
Land	67
Building and Improvements	378
Total Investment in Real Estate	445
Accumulated Depreciation and Amortization	$ 177
Date of Initial Leasehold or Acquisition Investment	1972
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brooklyn Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 75
Cost Capitalized Subsequent to Initial Investment	384
Land	31
Building and Improvements	428
Total Investment in Real Estate	459
Accumulated Depreciation and Amortization	$ 210
Date of Initial Leasehold or Acquisition Investment	1967
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brooklyn Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 148
Cost Capitalized Subsequent to Initial Investment	394
Land	104
Building and Improvements	438
Total Investment in Real Estate	542
Accumulated Depreciation and Amortization	$ 238
Date of Initial Leasehold or Acquisition Investment	1972
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brooklyn Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 237
Cost Capitalized Subsequent to Initial Investment	382
Land	154
Building and Improvements	465
Total Investment in Real Estate	619
Accumulated Depreciation and Amortization	$ 156
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brooklyn Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 282
Cost Capitalized Subsequent to Initial Investment	457
Land	176
Building and Improvements	563
Total Investment in Real Estate	739
Accumulated Depreciation and Amortization	$ 362
Date of Initial Leasehold or Acquisition Investment	1967
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brooklyn Seven [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 422
Cost Capitalized Subsequent to Initial Investment	334
Land	275
Building and Improvements	481
Total Investment in Real Estate	756
Accumulated Depreciation and Amortization	$ 249
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brooklyn Eight [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 478
Cost Capitalized Subsequent to Initial Investment	318
Land	306
Building and Improvements	490
Total Investment in Real Estate	796
Accumulated Depreciation and Amortization	$ 254
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Brooklyn Nine [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 627
Cost Capitalized Subsequent to Initial Investment	313
Land	408
Building and Improvements	532
Total Investment in Real Estate	940
Accumulated Depreciation and Amortization	$ 273
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Buffalo One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 312
Cost Capitalized Subsequent to Initial Investment	242
Land	151
Building and Improvements	403
Total Investment in Real Estate	554
Accumulated Depreciation and Amortization	$ 168
Date of Initial Leasehold or Acquisition Investment	2000
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Byron One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 969
Land	669
Building and Improvements	300
Total Investment in Real Estate	969
Accumulated Depreciation and Amortization	$ 130
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Chester One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,158
Land	1,158
Total Investment in Real Estate	$ 1,158
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Churchville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,011
Land	601
Building and Improvements	410
Total Investment in Real Estate	1,011
Accumulated Depreciation and Amortization	$ 178
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Commack One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 321
Cost Capitalized Subsequent to Initial Investment	26
Land	209
Building and Improvements	138
Total Investment in Real Estate	347
Accumulated Depreciation and Amortization	$ 110
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Corona One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 114
Cost Capitalized Subsequent to Initial Investment	301
Land	113
Building and Improvements	302
Total Investment in Real Estate	415
Accumulated Depreciation and Amortization	$ 302
Date of Initial Leasehold or Acquisition Investment	1965
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Corona Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,543
Land	1,903
Building and Improvements	640
Total Investment in Real Estate	2,543
Accumulated Depreciation and Amortization	$ 129
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Cortland Manor One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,872
Land	1,872
Total Investment in Real Estate	$ 1,872
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Dobbs Ferry One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 670
Cost Capitalized Subsequent to Initial Investment	34
Land	434
Building and Improvements	270
Total Investment in Real Estate	704
Accumulated Depreciation and Amortization	$ 213
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Dobbs FerryTwo [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,345
Land	1,345
Total Investment in Real Estate	$ 1,345
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | East Hampton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 660
Cost Capitalized Subsequent to Initial Investment	39
Land	428
Building and Improvements	271
Total Investment in Real Estate	699
Accumulated Depreciation and Amortization	$ 214
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | East Islip One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 89
Cost Capitalized Subsequent to Initial Investment	549
Land	87
Building and Improvements	551
Total Investment in Real Estate	638
Accumulated Depreciation and Amortization	$ 259
Date of Initial Leasehold or Acquisition Investment	1972
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | East Pembroke One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 787
Land	537
Building and Improvements	250
Total Investment in Real Estate	787
Accumulated Depreciation and Amortization	$ 108
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Eastchester One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,724
Land	1,724
Total Investment in Real Estate	$ 1,724
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Elmont One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 389
Cost Capitalized Subsequent to Initial Investment	319
Land	231
Building and Improvements	477
Total Investment in Real Estate	708
Accumulated Depreciation and Amortization	$ 286
Date of Initial Leasehold or Acquisition Investment	1978
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Elmsford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 1,012
Land	581
Building and Improvements	431
Total Investment in Real Estate	1,012
Accumulated Depreciation and Amortization	$ 196
Date of Initial Leasehold or Acquisition Investment	1971
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Elmsford Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,453
Land	1,453
Total Investment in Real Estate	$ 1,453
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Fishkill One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,793
Land	1,793
Total Investment in Real Estate	$ 1,793
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Floral Park One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 617
Cost Capitalized Subsequent to Initial Investment	175
Land	356
Building and Improvements	436
Total Investment in Real Estate	792
Accumulated Depreciation and Amortization	$ 219
Date of Initial Leasehold or Acquisition Investment	1998
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Flushing One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 516
Cost Capitalized Subsequent to Initial Investment	241
Land	320
Building and Improvements	437
Total Investment in Real Estate	757
Accumulated Depreciation and Amortization	$ 193
Date of Initial Leasehold or Acquisition Investment	1998
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Flushing Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,936
Land	1,413
Building and Improvements	523
Total Investment in Real Estate	1,936
Accumulated Depreciation and Amortization	$ 110
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Flushing Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,947
Land	1,405
Building and Improvements	542
Total Investment in Real Estate	1,947
Accumulated Depreciation and Amortization	$ 105
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Flushing Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,478
Land	1,801
Building and Improvements	677
Total Investment in Real Estate	2,478
Accumulated Depreciation and Amortization	$ 131
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Forrest Hill One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,273
Land	1,273
Total Investment in Real Estate	$ 1,273
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Franklin Square One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 153
Cost Capitalized Subsequent to Initial Investment	331
Land	137
Building and Improvements	347
Total Investment in Real Estate	484
Accumulated Depreciation and Amortization	$ 146
Date of Initial Leasehold or Acquisition Investment	1978
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Friendship One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 393
Land	43
Building and Improvements	350
Total Investment in Real Estate	393
Accumulated Depreciation and Amortization	$ 152
Date of Initial Leasehold or Acquisition Investment	2006

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Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 16 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Garden City One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	361
Cost Capitalized Subsequent to Initial Investment	243
Land	236
Building and Improvements	368
Total Investment in Real Estate	604
Accumulated Depreciation and Amortization	$ 155
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Garnerville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,508
Land	1,508
Total Investment in Real Estate	$ 1,508
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Glen Head One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 234
Cost Capitalized Subsequent to Initial Investment	219
Land	103
Building and Improvements	350
Total Investment in Real Estate	453
Accumulated Depreciation and Amortization	$ 347
Date of Initial Leasehold or Acquisition Investment	1982
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Glen HeadTwo [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 461
Cost Capitalized Subsequent to Initial Investment	284
Land	301
Building and Improvements	444
Total Investment in Real Estate	745
Accumulated Depreciation and Amortization	$ 215
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Glendale [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 369
Cost Capitalized Subsequent to Initial Investment	280
Land	236
Building and Improvements	413
Total Investment in Real Estate	649
Accumulated Depreciation and Amortization	$ 186
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Great Neck One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 500
Cost Capitalized Subsequent to Initial Investment	252
Land	450
Building and Improvements	302
Total Investment in Real Estate	752
Accumulated Depreciation and Amortization	$ 120
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Greigsville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,018
Land	203
Building and Improvements	815
Total Investment in Real Estate	1,018
Accumulated Depreciation and Amortization	$ 449
Date of Initial Leasehold or Acquisition Investment	2008
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Hartsdale One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,626
Land	1,626
Total Investment in Real Estate	$ 1,626
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Hawthorne One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,084
Land	2,084
Total Investment in Real Estate	$ 2,084
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Hopewell Junction One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,163
Land	1,163
Total Investment in Real Estate	$ 1,163
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Huntington Station One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 141
Cost Capitalized Subsequent to Initial Investment	284
Land	84
Building and Improvements	341
Total Investment in Real Estate	425
Accumulated Depreciation and Amortization	$ 155
Date of Initial Leasehold or Acquisition Investment	1978
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Hyde Park One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 990
Land	990
Total Investment in Real Estate	$ 990
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Katonah One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,084
Land	1,084
Total Investment in Real Estate	$ 1,084
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Lagrangeville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 130
Cost Capitalized Subsequent to Initial Investment	1,043
Land	64
Building and Improvements	1,109
Total Investment in Real Estate	1,173
Accumulated Depreciation and Amortization	$ 382
Date of Initial Leasehold or Acquisition Investment	1972
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Lakeville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,028
Land	203
Building and Improvements	825
Total Investment in Real Estate	1,028
Accumulated Depreciation and Amortization	$ 458
Date of Initial Leasehold or Acquisition Investment	2008
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Levittown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 503
Cost Capitalized Subsequent to Initial Investment	42
Land	327
Building and Improvements	218
Total Investment in Real Estate	545
Accumulated Depreciation and Amortization	$ 175
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Levittown Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 546
Cost Capitalized Subsequent to Initial Investment	87
Land	356
Building and Improvements	277
Total Investment in Real Estate	633
Accumulated Depreciation and Amortization	$ 210
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Long Island City [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,717
Land	1,183
Building and Improvements	1,534
Total Investment in Real Estate	2,717
Accumulated Depreciation and Amortization	$ 269
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Mamaroneck One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,429
Land	1,429
Total Investment in Real Estate	$ 1,429
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Massapequa One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 333
Cost Capitalized Subsequent to Initial Investment	285
Land	217
Building and Improvements	401
Total Investment in Real Estate	618
Accumulated Depreciation and Amortization	$ 168
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Mastic One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 313
Cost Capitalized Subsequent to Initial Investment	110
Land	204
Building and Improvements	219
Total Investment in Real Estate	423
Accumulated Depreciation and Amortization	$ 193
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Middletown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 719
Land	719
Total Investment in Real Estate	$ 719
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Middletown Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 751
Cost Capitalized Subsequent to Initial Investment	274
Land	489
Building and Improvements	536
Total Investment in Real Estate	1,025
Accumulated Depreciation and Amortization	$ 279
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Middletown Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,281
Land	1,281
Total Investment in Real Estate	$ 1,281
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Millwood Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,448
Land	1,448
Total Investment in Real Estate	$ 1,448
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Mount Kisco One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,907
Land	1,907
Total Investment in Real Estate	$ 1,907
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Mount Vernon One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 985
Land	985
Total Investment in Real Estate	$ 985
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Nanuet One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,316
Land	2,316
Total Investment in Real Estate	$ 2,316
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | New Paltz One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 971
Land	971
Total Investment in Real Estate	$ 971
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | New Rochelle One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 188
Cost Capitalized Subsequent to Initial Investment	344
Land	104
Building and Improvements	428
Total Investment in Real Estate	532
Accumulated Depreciation and Amortization	$ 176
Date of Initial Leasehold or Acquisition Investment	1982
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | New Rochelle Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,887
Land	1,887
Total Investment in Real Estate	$ 1,887
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | New Windsor One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,084
Land	1,084
Total Investment in Real Estate	$ 1,084
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | New York One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 126
Cost Capitalized Subsequent to Initial Investment	399
Land	78
Building and Improvements	447
Total Investment in Real Estate	525
Accumulated Depreciation and Amortization	$ 263
Date of Initial Leasehold or Acquisition Investment	1972
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Newburgh One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 527
Land	527
Total Investment in Real Estate	$ 527
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Newburgh Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,192
Land	1,192
Total Investment in Real Estate	$ 1,192
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Niskayuna One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 425
Cost Capitalized Subsequent to Initial Investment	35
Land	275
Building and Improvements	185
Total Investment in Real Estate	460
Accumulated Depreciation and Amortization	$ 185
Date of Initial Leasehold or Acquisition Investment	1986
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | North Lindenhurst One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 295
Cost Capitalized Subsequent to Initial Investment	243
Land	192
Building and Improvements	346
Total Investment in Real Estate	538
Accumulated Depreciation and Amortization	$ 145
Date of Initial Leasehold or Acquisition Investment	1998
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Ossining One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 71
Cost Capitalized Subsequent to Initial Investment	300
Land	43
Building and Improvements	328
Total Investment in Real Estate	371
Accumulated Depreciation and Amortization	$ 138
Date of Initial Leasehold or Acquisition Investment	1977
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Ossining Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 231
Cost Capitalized Subsequent to Initial Investment	219
Land	117
Building and Improvements	333
Total Investment in Real Estate	450
Accumulated Depreciation and Amortization	$ 108
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Ozone Park One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 57
Cost Capitalized Subsequent to Initial Investment	367
Land	45
Building and Improvements	379
Total Investment in Real Estate	424
Accumulated Depreciation and Amortization	$ 178
Date of Initial Leasehold or Acquisition Investment	1976
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Peekskill One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,207
Land	2,207
Total Investment in Real Estate	$ 2,207
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Pelham One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,035
Land	1,035
Total Investment in Real Estate	$ 1,035
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Pelham Manor One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 137
Cost Capitalized Subsequent to Initial Investment	307
Land	75
Building and Improvements	369
Total Investment in Real Estate	444
Accumulated Depreciation and Amortization	$ 183
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Pleasant Valley One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 398
Cost Capitalized Subsequent to Initial Investment	62
Land	240
Building and Improvements	220
Total Investment in Real Estate	460
Accumulated Depreciation and Amortization	$ 204
Date of Initial Leasehold or Acquisition Investment	1986
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Port Chester One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 941
Building and Improvements	941
Total Investment in Real Estate	941
Accumulated Depreciation and Amortization	$ 332
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Port Chester Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,015
Land	1,015
Total Investment in Real Estate	$ 1,015
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Port Jefferson One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 387
Cost Capitalized Subsequent to Initial Investment	294
Land	246
Building and Improvements	435
Total Investment in Real Estate	681
Accumulated Depreciation and Amortization	$ 215
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Poughkeepsie One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 591
Land	591
Total Investment in Real Estate	$ 591
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Poughkeepsie Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,020
Land	1,020
Total Investment in Real Estate	$ 1,020
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Poughkeepsie Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,231
Cost Capitalized Subsequent to Initial Investment	(31)
Land	1,200
Total Investment in Real Estate	$ 1,200
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Poughkeepsie Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,306
Land	1,306
Total Investment in Real Estate	$ 1,306
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Poughkeepsie Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,340
Land	1,340
Total Investment in Real Estate	$ 1,340
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Poughkeepsie Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,355
Land	1,355
Total Investment in Real Estate	$ 1,355
Date of Initial Leasehold or Acquisition Investment	2011

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 17 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Rego Park One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	2,783
Land	2,104
Building and Improvements	679
Total Investment in Real Estate	2,783
Accumulated Depreciation and Amortization	$ 138
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Riverhead One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 724
Land	432
Building and Improvements	292
Total Investment in Real Estate	724
Accumulated Depreciation and Amortization	$ 216
Date of Initial Leasehold or Acquisition Investment	1998
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Rochester Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 559
Land	159
Building and Improvements	400
Total Investment in Real Estate	559
Accumulated Depreciation and Amortization	$ 173
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Rochester Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 595
Land	305
Building and Improvements	290
Total Investment in Real Estate	595
Accumulated Depreciation and Amortization	$ 119
Date of Initial Leasehold or Acquisition Investment	2008
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Rockaway Beach One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 111
Cost Capitalized Subsequent to Initial Investment	277
Land	79
Building and Improvements	309
Total Investment in Real Estate	388
Accumulated Depreciation and Amortization	$ 125
Date of Initial Leasehold or Acquisition Investment	1972
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Rockville Centre One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 350
Cost Capitalized Subsequent to Initial Investment	66
Land	201
Building and Improvements	215
Total Investment in Real Estate	416
Accumulated Depreciation and Amortization	$ 189
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Rokaway Park One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,605
Land	1,605
Total Investment in Real Estate	$ 1,605
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Rye One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 872
Land	872
Total Investment in Real Estate	$ 872
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Sag Harbor One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 704
Cost Capitalized Subsequent to Initial Investment	35
Land	458
Building and Improvements	281
Total Investment in Real Estate	739
Accumulated Depreciation and Amortization	$ 221
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Savona One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,314
Land	964
Building and Improvements	350
Total Investment in Real Estate	1,314
Accumulated Depreciation and Amortization	$ 152
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Sayville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 345
Cost Capitalized Subsequent to Initial Investment	245
Land	300
Building and Improvements	290
Total Investment in Real Estate	590
Accumulated Depreciation and Amortization	$ 82
Date of Initial Leasehold or Acquisition Investment	1998
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Scarsdale One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,301
Land	1,301
Total Investment in Real Estate	$ 1,301
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Shrub Oak One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,061
Cost Capitalized Subsequent to Initial Investment	508
Land	691
Building and Improvements	878
Total Investment in Real Estate	1,569
Accumulated Depreciation and Amortization	$ 491
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Sleepy Hollow One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 281
Cost Capitalized Subsequent to Initial Investment	332
Land	130
Building and Improvements	483
Total Investment in Real Estate	613
Accumulated Depreciation and Amortization	$ 348
Date of Initial Leasehold or Acquisition Investment	1969
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Smithtown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 88
Cost Capitalized Subsequent to Initial Investment	287
Land	51
Building and Improvements	324
Total Investment in Real Estate	375
Accumulated Depreciation and Amortization	$ 135
Date of Initial Leasehold or Acquisition Investment	1977
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Spring Valley One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 749
Land	749
Total Investment in Real Estate	$ 749
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | St Albans One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 330
Cost Capitalized Subsequent to Initial Investment	106
Land	215
Building and Improvements	221
Total Investment in Real Estate	436
Accumulated Depreciation and Amortization	$ 166
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Staten Island One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 357
Cost Capitalized Subsequent to Initial Investment	35
Land	230
Building and Improvements	162
Total Investment in Real Estate	392
Accumulated Depreciation and Amortization	$ 132
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Staten Island Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 389
Cost Capitalized Subsequent to Initial Investment	90
Land	254
Building and Improvements	225
Total Investment in Real Estate	479
Accumulated Depreciation and Amortization	$ 192
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Staten Island Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 301
Cost Capitalized Subsequent to Initial Investment	328
Land	196
Building and Improvements	433
Total Investment in Real Estate	629
Accumulated Depreciation and Amortization	$ 207
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Staten Island Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 350
Cost Capitalized Subsequent to Initial Investment	290
Land	228
Building and Improvements	412
Total Investment in Real Estate	640
Accumulated Depreciation and Amortization	$ 185
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Stony Brook One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 176
Cost Capitalized Subsequent to Initial Investment	281
Land	105
Building and Improvements	352
Total Investment in Real Estate	457
Accumulated Depreciation and Amortization	$ 163
Date of Initial Leasehold or Acquisition Investment	1978
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Tarrytown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 956
Land	956
Total Investment in Real Estate	$ 956
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Tuchahoe One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,650
Land	1,650
Total Investment in Real Estate	$ 1,650
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Wantagh One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 640
Land	370
Building and Improvements	270
Total Investment in Real Estate	640
Accumulated Depreciation and Amortization	$ 198
Date of Initial Leasehold or Acquisition Investment	1998
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Wappingers Falls One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 452
Building and Improvements	452
Total Investment in Real Estate	452
Accumulated Depreciation and Amortization	$ 242
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Wappingers Falls Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,488
Land	1,488
Total Investment in Real Estate	$ 1,488
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Warsaw One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 990
Land	690
Building and Improvements	300
Total Investment in Real Estate	990
Accumulated Depreciation and Amortization	$ 130
Date of Initial Leasehold or Acquisition Investment	2006
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Warwick One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,049
Land	1,049
Total Investment in Real Estate	$ 1,049
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | West Nyack One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 936
Land	936
Total Investment in Real Estate	$ 936
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | West Taghkanic One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 203
Cost Capitalized Subsequent to Initial Investment	442
Land	122
Building and Improvements	523
Total Investment in Real Estate	645
Accumulated Depreciation and Amortization	$ 305
Date of Initial Leasehold or Acquisition Investment	1986
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | White Plains One [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 569
Land	303
Building and Improvements	266
Total Investment in Real Estate	569
Accumulated Depreciation and Amortization	$ 181
Date of Initial Leasehold or Acquisition Investment	1972
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | White Plains Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,458
Land	1,458
Total Investment in Real Estate	$ 1,458
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Yaphank One [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 798
Land	375
Building and Improvements	423
Total Investment in Real Estate	798
Accumulated Depreciation and Amortization	$ 103
Date of Initial Leasehold or Acquisition Investment	1993
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Yonkers One [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 610
Building and Improvements	610
Total Investment in Real Estate	610
Accumulated Depreciation and Amortization	$ 251
Date of Initial Leasehold or Acquisition Investment	1970
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Yonkers Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Cost Capitalized Subsequent to Initial Investment	$ 1,040
Land	780
Building and Improvements	260
Total Investment in Real Estate	1,040
Accumulated Depreciation and Amortization	$ 81
Date of Initial Leasehold or Acquisition Investment	1990
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Yonkers Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,020
Cost Capitalized Subsequent to Initial Investment	64
Land	665
Building and Improvements	419
Total Investment in Real Estate	1,084
Accumulated Depreciation and Amortization	$ 332
Date of Initial Leasehold or Acquisition Investment	1985
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Yonkers Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 291
Cost Capitalized Subsequent to Initial Investment	1,052
Land	216
Building and Improvements	1,127
Total Investment in Real Estate	1,343
Accumulated Depreciation and Amortization	$ 364
Date of Initial Leasehold or Acquisition Investment	1972
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Yonkers Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,907
Land	1,907
Total Investment in Real Estate	$ 1,907
Date of Initial Leasehold or Acquisition Investment	2011
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Yorktown Heights One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,700
Building and Improvements	1,700
Total Investment in Real Estate	1,700
Accumulated Depreciation and Amortization	$ 47
Date of Initial Leasehold or Acquisition Investment	2013
NEW YORK | Accumulated Depreciation And Amortization Description [Member] | Yorktown Heights Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,365
Land	2,365
Total Investment in Real Estate	$ 2,365
Date of Initial Leasehold or Acquisition Investment	2011
OHIO | Accumulated Depreciation And Amortization Description [Member] | Crestline One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,202
Land	285
Building and Improvements	917
Total Investment in Real Estate	1,202
Accumulated Depreciation and Amortization	$ 376
Date of Initial Leasehold or Acquisition Investment	2008
OHIO | Accumulated Depreciation And Amortization Description [Member] | Mansfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 922
Land	332
Building and Improvements	590
Total Investment in Real Estate	922
Accumulated Depreciation and Amortization	$ 227
Date of Initial Leasehold or Acquisition Investment	2008
OHIO | Accumulated Depreciation And Amortization Description [Member] | Mansfield Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,950
Land	700
Building and Improvements	1,250
Total Investment in Real Estate	1,950
Accumulated Depreciation and Amortization	$ 468
Date of Initial Leasehold or Acquisition Investment	2009
OHIO | Accumulated Depreciation And Amortization Description [Member] | Monroeville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,580
Land	485
Building and Improvements	2,095
Total Investment in Real Estate	2,580
Accumulated Depreciation and Amortization	$ 763
Date of Initial Leasehold or Acquisition Investment	2009
OREGON | Accumulated Depreciation And Amortization Description [Member] | Banks One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 498
Land	498
Total Investment in Real Estate	$ 498
Date of Initial Leasehold or Acquisition Investment	2015
OREGON | Accumulated Depreciation And Amortization Description [Member] | Estacada One Member
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 646
Land	84
Building and Improvements	562
Total Investment in Real Estate	646
Accumulated Depreciation and Amortization	$ 48
Date of Initial Leasehold or Acquisition Investment	2015
OREGON | Accumulated Depreciation And Amortization Description [Member] | Pendleton One Member
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 766
Land	122
Building and Improvements	644
Total Investment in Real Estate	766
Accumulated Depreciation and Amortization	$ 61
Date of Initial Leasehold or Acquisition Investment	2015
OREGON | Accumulated Depreciation And Amortization Description [Member] | Portland One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,416
Land	3,368
Building and Improvements	1,048
Total Investment in Real Estate	4,416
Accumulated Depreciation and Amortization	$ 94
Date of Initial Leasehold or Acquisition Investment	2015

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 18 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
OREGON | Accumulated Depreciation And Amortization Description [Member] | Salem One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	1,071
Land	399
Building and Improvements	672
Total Investment in Real Estate	1,071
Accumulated Depreciation and Amortization	$ 77
Date of Initial Leasehold or Acquisition Investment	2015
OREGON | Accumulated Depreciation And Amortization Description [Member] | Salem Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,350
Land	521
Building and Improvements	829
Total Investment in Real Estate	1,350
Accumulated Depreciation and Amortization	$ 76
Date of Initial Leasehold or Acquisition Investment	2015
OREGON | Accumulated Depreciation And Amortization Description [Member] | Salem Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,408
Land	524
Building and Improvements	884
Total Investment in Real Estate	1,408
Accumulated Depreciation and Amortization	$ 84
Date of Initial Leasehold or Acquisition Investment	2015
OREGON | Accumulated Depreciation And Amortization Description [Member] | Salem Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,215
Land	3,182
Building and Improvements	1,033
Total Investment in Real Estate	4,215
Accumulated Depreciation and Amortization	$ 100
Date of Initial Leasehold or Acquisition Investment	2015
OREGON | Accumulated Depreciation And Amortization Description [Member] | Salem Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,614
Land	3,517
Building and Improvements	1,097
Total Investment in Real Estate	4,614
Accumulated Depreciation and Amortization	$ 99
Date of Initial Leasehold or Acquisition Investment	2015
OREGON | Accumulated Depreciation And Amortization Description [Member] | Springfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,398
Land	796
Building and Improvements	602
Total Investment in Real Estate	1,398
Accumulated Depreciation and Amortization	$ 67
Date of Initial Leasehold or Acquisition Investment	2015
PA | Accumulated Depreciation And Amortization Description [Member] | Allentown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 358
Cost Capitalized Subsequent to Initial Investment	31
Land	233
Building and Improvements	156
Total Investment in Real Estate	389
Accumulated Depreciation and Amortization	$ 125
Date of Initial Leasehold or Acquisition Investment	1985
PA | Accumulated Depreciation And Amortization Description [Member] | Allison Park One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,500
Land	850
Building and Improvements	650
Total Investment in Real Estate	1,500
Accumulated Depreciation and Amortization	$ 343
Date of Initial Leasehold or Acquisition Investment	2010
PA | Accumulated Depreciation And Amortization Description [Member] | Harrisburg One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 399
Cost Capitalized Subsequent to Initial Investment	213
Land	199
Building and Improvements	413
Total Investment in Real Estate	612
Accumulated Depreciation and Amortization	$ 313
Date of Initial Leasehold or Acquisition Investment	1989
PA | Accumulated Depreciation And Amortization Description [Member] | Havertown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 402
Cost Capitalized Subsequent to Initial Investment	63
Land	254
Building and Improvements	211
Total Investment in Real Estate	465
Accumulated Depreciation and Amortization	$ 146
Date of Initial Leasehold or Acquisition Investment	1985
PA | Accumulated Depreciation And Amortization Description [Member] | Lancaster One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 643
Cost Capitalized Subsequent to Initial Investment	17
Land	300
Building and Improvements	360
Total Investment in Real Estate	660
Accumulated Depreciation and Amortization	$ 360
Date of Initial Leasehold or Acquisition Investment	1989
PA | Accumulated Depreciation And Amortization Description [Member] | New Holland One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 313
Cost Capitalized Subsequent to Initial Investment	24
Land	143
Building and Improvements	194
Total Investment in Real Estate	337
Accumulated Depreciation and Amortization	$ 185
Date of Initial Leasehold or Acquisition Investment	1989
PA | Accumulated Depreciation And Amortization Description [Member] | New Kensington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,375
Land	675
Building and Improvements	700
Total Investment in Real Estate	1,375
Accumulated Depreciation and Amortization	$ 207
Date of Initial Leasehold or Acquisition Investment	2010
PA | Accumulated Depreciation And Amortization Description [Member] | New Oxford One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,045
Cost Capitalized Subsequent to Initial Investment	(75)
Land	181
Building and Improvements	789
Total Investment in Real Estate	970
Accumulated Depreciation and Amortization	$ 777
Date of Initial Leasehold or Acquisition Investment	1996
PA | Accumulated Depreciation And Amortization Description [Member] | Philadelphia One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 406
Cost Capitalized Subsequent to Initial Investment	175
Land	264
Building and Improvements	317
Total Investment in Real Estate	581
Accumulated Depreciation and Amortization	$ 244
Date of Initial Leasehold or Acquisition Investment	1985
PA | Accumulated Depreciation And Amortization Description [Member] | Philadelphia Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,252
Land	814
Building and Improvements	438
Total Investment in Real Estate	1,252
Accumulated Depreciation and Amortization	$ 139
Date of Initial Leasehold or Acquisition Investment	2009
PA | Accumulated Depreciation And Amortization Description [Member] | Pottstown One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 451
Cost Capitalized Subsequent to Initial Investment	2
Land	148
Building and Improvements	305
Total Investment in Real Estate	453
Accumulated Depreciation and Amortization	$ 304
Date of Initial Leasehold or Acquisition Investment	1990
PA | Accumulated Depreciation And Amortization Description [Member] | Reading One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 750
Cost Capitalized Subsequent to Initial Investment	49
Building and Improvements	799
Total Investment in Real Estate	799
Accumulated Depreciation and Amortization	$ 799
Date of Initial Leasehold or Acquisition Investment	1989
RHODE ISLAND | Accumulated Depreciation And Amortization Description [Member] | Ashaway One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 619
Land	402
Building and Improvements	217
Total Investment in Real Estate	619
Accumulated Depreciation and Amortization	$ 105
Date of Initial Leasehold or Acquisition Investment	2004
RHODE ISLAND | Accumulated Depreciation And Amortization Description [Member] | Barrington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 490
Cost Capitalized Subsequent to Initial Investment	180
Land	319
Building and Improvements	351
Total Investment in Real Estate	670
Accumulated Depreciation and Amortization	$ 233
Date of Initial Leasehold or Acquisition Investment	1985
RHODE ISLAND | Accumulated Depreciation And Amortization Description [Member] | East Providence One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,298
Cost Capitalized Subsequent to Initial Investment	(1,687)
Land	89
Building and Improvements	522
Total Investment in Real Estate	$ 611
Date of Initial Leasehold or Acquisition Investment	1985
RHODE ISLAND | Accumulated Depreciation And Amortization Description [Member] | NProvidence One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 542
Cost Capitalized Subsequent to Initial Investment	159
Land	353
Building and Improvements	348
Total Investment in Real Estate	701
Accumulated Depreciation and Amortization	$ 219
Date of Initial Leasehold or Acquisition Investment	1985
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Austin One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 462
Land	274
Building and Improvements	188
Total Investment in Real Estate	462
Accumulated Depreciation and Amortization	$ 119
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Austin Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,368
Land	738
Building and Improvements	1,630
Total Investment in Real Estate	2,368
Accumulated Depreciation and Amortization	$ 730
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Austin Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,511
Land	1,595
Building and Improvements	1,916
Total Investment in Real Estate	3,511
Accumulated Depreciation and Amortization	$ 868
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Bedford Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 353
Land	113
Building and Improvements	240
Total Investment in Real Estate	353
Accumulated Depreciation and Amortization	$ 164
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Ft Worth One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,115
Land	866
Building and Improvements	1,249
Total Investment in Real Estate	2,115
Accumulated Depreciation and Amortization	$ 633
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Garland One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,296
Land	245
Building and Improvements	3,051
Total Investment in Real Estate	3,296
Accumulated Depreciation and Amortization	$ 286
Date of Initial Leasehold or Acquisition Investment	2014
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Garland Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,439
Land	439
Building and Improvements	4,000
Total Investment in Real Estate	4,439
Accumulated Depreciation and Amortization	$ 392
Date of Initial Leasehold or Acquisition Investment	2014
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Harker Heights One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,051
Cost Capitalized Subsequent to Initial Investment	(9)
Land	579
Building and Improvements	1,463
Total Investment in Real Estate	2,042
Accumulated Depreciation and Amortization	$ 1,081
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Houston One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,689
Land	224
Building and Improvements	1,465
Total Investment in Real Estate	1,689
Accumulated Depreciation and Amortization	$ 623
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Houston Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,803
Land	535
Building and Improvements	2,268
Total Investment in Real Estate	2,803
Accumulated Depreciation and Amortization	$ 17
Date of Initial Leasehold or Acquisition Investment	2016
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Keller One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,507
Land	996
Building and Improvements	1,511
Total Investment in Real Estate	2,507
Accumulated Depreciation and Amortization	$ 719
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Lewisville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 494
Land	110
Building and Improvements	384
Total Investment in Real Estate	494
Accumulated Depreciation and Amortization	$ 204
Date of Initial Leasehold or Acquisition Investment	2008
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Midlothian One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 429
Land	72
Building and Improvements	357
Total Investment in Real Estate	429
Accumulated Depreciation and Amortization	$ 208
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Port Arthur [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,648
Land	505
Building and Improvements	2,143
Total Investment in Real Estate	2,648
Accumulated Depreciation and Amortization	$ 17
Date of Initial Leasehold or Acquisition Investment	2016
TEXAS | Accumulated Depreciation And Amortization Description [Member] | San Marcos One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,954
Land	251
Building and Improvements	1,703
Total Investment in Real Estate	1,954
Accumulated Depreciation and Amortization	$ 745
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Temple One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,406
Cost Capitalized Subsequent to Initial Investment	(11)
Land	1,205
Building and Improvements	1,190
Total Investment in Real Estate	2,395
Accumulated Depreciation and Amortization	$ 580
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | The Colony One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,396
Land	337
Building and Improvements	4,059
Total Investment in Real Estate	4,396
Accumulated Depreciation and Amortization	$ 1,675
Date of Initial Leasehold or Acquisition Investment	2007
TEXAS | Accumulated Depreciation And Amortization Description [Member] | Waco One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,884
Land	894
Building and Improvements	2,990
Total Investment in Real Estate	3,884
Accumulated Depreciation and Amortization	$ 1,465
Date of Initial Leasehold or Acquisition Investment	2007
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Springfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,257
Land	2,969
Building and Improvements	1,288
Total Investment in Real Estate	4,257
Accumulated Depreciation and Amortization	$ 250
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Alexandria One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 649
Land	649
Total Investment in Real Estate	$ 649
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Alexandria Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 656
Land	409
Building and Improvements	247
Total Investment in Real Estate	656
Accumulated Depreciation and Amortization	$ 56
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Alexandria Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 712
Land	712
Total Investment in Real Estate	$ 712
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Alexandria Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 735
Land	735
Total Investment in Real Estate	$ 735
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Alexandria Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,327
Land	1,327
Total Investment in Real Estate	$ 1,327
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Alexandria Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,388
Land	1,020
Building and Improvements	368
Total Investment in Real Estate	1,388
Accumulated Depreciation and Amortization	$ 85
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Alexandria Seven [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,582
Land	1,150
Building and Improvements	432
Total Investment in Real Estate	1,582
Accumulated Depreciation and Amortization	$ 91
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Alexandria Eight [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,757
Land	1,313
Building and Improvements	444
Total Investment in Real Estate	1,757
Accumulated Depreciation and Amortization	$ 99
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Annandale One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,718
Land	1,718
Total Investment in Real Estate	$ 1,718
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Arlington One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,083
Land	1,083
Total Investment in Real Estate	$ 1,083
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Arlington Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,464
Land	1,085
Building and Improvements	379
Total Investment in Real Estate	1,464
Accumulated Depreciation and Amortization	$ 81
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Arlington Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,014
Land	1,516
Building and Improvements	498
Total Investment in Real Estate	2,014
Accumulated Depreciation and Amortization	$ 104
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Arlington Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,062
Land	1,603
Building and Improvements	459
Total Investment in Real Estate	2,062
Accumulated Depreciation and Amortization	$ 95
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Ashland One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 840
Land	840
Total Investment in Real Estate	$ 840
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Chesapeake One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 780
Cost Capitalized Subsequent to Initial Investment	(186)
Land	398
Building and Improvements	196
Total Investment in Real Estate	594
Accumulated Depreciation and Amortization	$ 48
Date of Initial Leasehold or Acquisition Investment	1990
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Chesapeake Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,004
Cost Capitalized Subsequent to Initial Investment	110
Land	385
Building and Improvements	729
Total Investment in Real Estate	1,114
Accumulated Depreciation and Amortization	$ 647
Date of Initial Leasehold or Acquisition Investment	1990
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Fairfax One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,825
Land	1,190
Building and Improvements	635
Total Investment in Real Estate	1,825
Accumulated Depreciation and Amortization	$ 132
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Fairfax Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,078
Land	1,365
Building and Improvements	713
Total Investment in Real Estate	2,078
Accumulated Depreciation and Amortization	$ 128
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Fairfax Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,348
Land	2,351
Building and Improvements	997
Total Investment in Real Estate	3,348
Accumulated Depreciation and Amortization	$ 195
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Fairfax Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,454
Land	3,370
Building and Improvements	1,084
Total Investment in Real Estate	4,454
Accumulated Depreciation and Amortization	$ 213
Date of Initial Leasehold or Acquisition Investment	2013
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Farmville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,227
Land	622
Building and Improvements	605
Total Investment in Real Estate	1,227
Accumulated Depreciation and Amortization	$ 285
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Fredericksburg One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,279
Land	469
Building and Improvements	810
Total Investment in Real Estate	1,279
Accumulated Depreciation and Amortization	$ 381
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Fredericksburg Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,289
Cost Capitalized Subsequent to Initial Investment	24
Land	798
Building and Improvements	515
Total Investment in Real Estate	1,313
Accumulated Depreciation and Amortization	$ 247
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Fredericksburg Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,716
Land	996
Building and Improvements	720
Total Investment in Real Estate	1,716
Accumulated Depreciation and Amortization	$ 339
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Fredericksburg Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,623
Land	2,828
Building and Improvements	795
Total Investment in Real Estate	3,623
Accumulated Depreciation and Amortization	$ 374
Date of Initial Leasehold or Acquisition Investment	2005

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Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 19 (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Investments In Real Estate [Line Items]
Total Investment in Real Estate	$ 782,166	$ 783,233	$ 595,959	$ 570,275
Accumulated Depreciation And Amortization Description [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	720,099
Cost Capitalized Subsequent to Initial Investment	62,067
Land	474,232
Building and Improvements	307,934
Total Investment in Real Estate	782,166
Accumulated Depreciation and Amortization	120,576
Accumulated Depreciation And Amortization Description [Member] | Miscellaneous [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	32,937
Cost Capitalized Subsequent to Initial Investment	11,470
Land	14,749
Building and Improvements	29,658
Total Investment in Real Estate	44,407
Accumulated Depreciation and Amortization	19,388
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Glen Allen One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	1,037
Land	412
Building and Improvements	625
Total Investment in Real Estate	1,037
Accumulated Depreciation and Amortization	$ 294
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Glen Allen Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,077
Land	322
Building and Improvements	755
Total Investment in Real Estate	1,077
Accumulated Depreciation and Amortization	$ 355
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | King William One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,688
Land	1,068
Building and Improvements	620
Total Investment in Real Estate	1,688
Accumulated Depreciation and Amortization	$ 292
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Mechanicsville One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 903
Land	273
Building and Improvements	630
Total Investment in Real Estate	903
Accumulated Depreciation and Amortization	$ 296
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Mechanicsville Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 957
Land	324
Building and Improvements	633
Total Investment in Real Estate	957
Accumulated Depreciation and Amortization	$ 323
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Mechanicsville Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,043
Land	223
Building and Improvements	820
Total Investment in Real Estate	1,043
Accumulated Depreciation and Amortization	$ 386
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Mechanicsville Four [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,125
Land	505
Building and Improvements	620
Total Investment in Real Estate	1,125
Accumulated Depreciation and Amortization	$ 292
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Mechanicsville Five [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,476
Land	876
Building and Improvements	600
Total Investment in Real Estate	1,476
Accumulated Depreciation and Amortization	$ 282
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Mechanicsville Six [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,677
Land	1,157
Building and Improvements	520
Total Investment in Real Estate	1,677
Accumulated Depreciation and Amortization	$ 245
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Montpelier One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,481
Cost Capitalized Subsequent to Initial Investment	(114)
Land	1,612
Building and Improvements	755
Total Investment in Real Estate	2,367
Accumulated Depreciation and Amortization	$ 355
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Norfolk One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 535
Cost Capitalized Subsequent to Initial Investment	6
Land	311
Building and Improvements	230
Total Investment in Real Estate	541
Accumulated Depreciation and Amortization	$ 230
Date of Initial Leasehold or Acquisition Investment	1990
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Petersburg One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,441
Land	816
Building and Improvements	625
Total Investment in Real Estate	1,441
Accumulated Depreciation and Amortization	$ 294
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Portsmouth One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 562
Cost Capitalized Subsequent to Initial Investment	34
Land	222
Building and Improvements	374
Total Investment in Real Estate	596
Accumulated Depreciation and Amortization	$ 363
Date of Initial Leasehold or Acquisition Investment	1990
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Richmond One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,132
Cost Capitalized Subsequent to Initial Investment	(41)
Land	506
Building and Improvements	585
Total Investment in Real Estate	1,091
Accumulated Depreciation and Amortization	$ 275
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Ruther Glen One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 466
Land	31
Building and Improvements	435
Total Investment in Real Estate	466
Accumulated Depreciation and Amortization	$ 205
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Sandston One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 722
Land	102
Building and Improvements	620
Total Investment in Real Estate	722
Accumulated Depreciation and Amortization	$ 292
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Spotsylvania One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,290
Land	490
Building and Improvements	800
Total Investment in Real Estate	1,290
Accumulated Depreciation and Amortization	$ 376
Date of Initial Leasehold or Acquisition Investment	2005
VIRGINIA | Accumulated Depreciation And Amortization Description [Member] | Springfield One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,257
Land	2,969
Building and Improvements	1,288
Total Investment in Real Estate	4,257
Accumulated Depreciation and Amortization	$ 250
Date of Initial Leasehold or Acquisition Investment	2013
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Auburn One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 3,022
Land	1,965
Building and Improvements	1,057
Total Investment in Real Estate	3,022
Accumulated Depreciation and Amortization	$ 99
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Bellevue One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,725
Land	886
Building and Improvements	839
Total Investment in Real Estate	1,725
Accumulated Depreciation and Amortization	$ 79
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Chehalis One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,176
Land	313
Building and Improvements	863
Total Investment in Real Estate	1,176
Accumulated Depreciation and Amortization	$ 89
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Colfax One Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,800
Land	3,611
Building and Improvements	1,189
Total Investment in Real Estate	4,800
Accumulated Depreciation and Amortization	$ 112
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Federal Way One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,218
Land	2,973
Building and Improvements	1,245
Total Investment in Real Estate	4,218
Accumulated Depreciation and Amortization	$ 126
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Fife One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,181
Land	414
Building and Improvements	767
Total Investment in Real Estate	1,181
Accumulated Depreciation and Amortization	$ 78
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Kent One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,900
Land	2,066
Building and Improvements	834
Total Investment in Real Estate	2,900
Accumulated Depreciation and Amortization	$ 85
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Monroe One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,792
Land	1,556
Building and Improvements	1,236
Total Investment in Real Estate	2,792
Accumulated Depreciation and Amortization	$ 119
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | PortOrchard One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,019
Land	161
Building and Improvements	1,858
Total Investment in Real Estate	2,019
Accumulated Depreciation and Amortization	$ 149
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Puyallup One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 831
Land	172
Building and Improvements	659
Total Investment in Real Estate	831
Accumulated Depreciation and Amortization	$ 72
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Puyallup Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,035
Land	465
Building and Improvements	1,570
Total Investment in Real Estate	2,035
Accumulated Depreciation and Amortization	$ 145
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Puyallup Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 4,050
Land	2,394
Building and Improvements	1,656
Total Investment in Real Estate	4,050
Accumulated Depreciation and Amortization	$ 190
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Renton One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,485
Land	952
Building and Improvements	533
Total Investment in Real Estate	1,485
Accumulated Depreciation and Amortization	$ 68
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Seattle One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 346
Land	346
Total Investment in Real Estate	$ 346
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Seattle Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 717
Land	193
Building and Improvements	524
Total Investment in Real Estate	717
Accumulated Depreciation and Amortization	$ 47
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Seattle Three [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,884
Land	1,223
Building and Improvements	661
Total Investment in Real Estate	1,884
Accumulated Depreciation and Amortization	$ 60
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Silverdale One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 2,178
Land	1,217
Building and Improvements	961
Total Investment in Real Estate	2,178
Accumulated Depreciation and Amortization	$ 97
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Snohomish One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 955
Land	955
Total Investment in Real Estate	$ 955
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | South Bend One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 760
Land	121
Building and Improvements	639
Total Investment in Real Estate	760
Accumulated Depreciation and Amortization	$ 56
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Spokane One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 346
Land	346
Total Investment in Real Estate	$ 346
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Tacoma One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 518
Land	518
Total Investment in Real Estate	$ 518
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Tacoma Two [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 671
Land	671
Total Investment in Real Estate	$ 671
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Tenino One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 937
Land	219
Building and Improvements	718
Total Investment in Real Estate	937
Accumulated Depreciation and Amortization	$ 64
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Vancouver One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 1,214
Land	163
Building and Improvements	1,051
Total Investment in Real Estate	1,214
Accumulated Depreciation and Amortization	$ 84
Date of Initial Leasehold or Acquisition Investment	2015
WASHINGTON | Accumulated Depreciation And Amortization Description [Member] | Wilbur One [Member]
Schedule Of Investments In Real Estate [Line Items]
Initial Cost of Leasehold or Acquisition Investment to Company	$ 629
Land	153
Building and Improvements	476
Total Investment in Real Estate	629
Accumulated Depreciation and Amortization	$ 47
Date of Initial Leasehold or Acquisition Investment	2015

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 20 (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Date of Initial Leasehold or Acquisition Investment	Various

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 21 (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2016
Minimum [Member]
Schedule Of Investments In Real Estate [Line Items]
Estimated useful lives of the assets	16 years
Maximum [Member]
Schedule Of Investments In Real Estate [Line Items]
Estimated useful lives of the assets	25 years

XML

Schedule III - Real Estate and Accumulated Depreciation and Amortization Part 22 (Parenthetical) (Detail)	Dec. 31, 2016 USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Aggregate cost for federal income tax	$ 617,464,000

XML

Schedule IV - Mortgage Loans on Real Estate (Detail)	12 Months Ended
	Dec. 31, 2016 USD ($)
Mortgage Loans on Real Estate [Line Items]
Prior Liens	$ 0
Face Value at Inception	38,489,000
Amount of Principal Unpaid at Close of Period	$ 32,737,000
Borrower A [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Horsham, PA
Interest Rate	10.00%
Final Maturity Date	2024-07
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	237,000
Amount of Principal Unpaid at Close of Period	$ 146,000
Borrower B [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Green Island, NY
Interest Rate	11.00%
Final Maturity Date	2018-08
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	298,000
Amount of Principal Unpaid at Close of Period	$ 75,000
Borrower C [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Concord, NH
Interest Rate	9.50%
Final Maturity Date	2028-08
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	210,000
Amount of Principal Unpaid at Close of Period	$ 165,000
Borrower D [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Irvington, NJ
Interest Rate	10.00%
Final Maturity Date	2022-07
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	300,000
Amount of Principal Unpaid at Close of Period	$ 202,000
Borrower E [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Kernersville/Lexington, NC
Interest Rate	8.00%
Final Maturity Date	2026-07
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	568,000
Amount of Principal Unpaid at Close of Period	$ 291,000
Borrower F [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Wantagh, NY
Interest Rate	9.00%
Final Maturity Date	2032-05
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	455,000
Amount of Principal Unpaid at Close of Period	$ 409,000
Borrower G [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Fullerton Hts, MD
Interest Rate	9.00%
Final Maturity Date	2019-05
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	225,000
Amount of Principal Unpaid at Close of Period	$ 35,000
Borrower H [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Springfield, MA
Interest Rate	9.00%
Final Maturity Date	2019-07
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	131,000
Amount of Principal Unpaid at Close of Period	$ 108,000
Borrower I [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	E. Patchogue, NY
Interest Rate	9.00%
Final Maturity Date	2019-08
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	200,000
Amount of Principal Unpaid at Close of Period	$ 181,000
Borrower J [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Union City, NJ
Interest Rate	9.00%
Final Maturity Date	2019-09
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	800,000
Amount of Principal Unpaid at Close of Period	$ 740,000
Borrower K [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Bronx, NY
Interest Rate	9.00%
Final Maturity Date	2019-12
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	240,000
Amount of Principal Unpaid at Close of Period	$ 121,000
Borrower L [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Seaford, NY
Interest Rate	9.00%
Final Maturity Date	2020-01
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	488,000
Amount of Principal Unpaid at Close of Period	$ 446,000
Borrower M [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Spotswood, NJ
Interest Rate	9.00%
Final Maturity Date	2020-01
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	306,000
Amount of Principal Unpaid at Close of Period	$ 280,000
Borrower N [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Freeport, NY
Interest Rate	9.00%
Final Maturity Date	2020-05
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	206,000
Amount of Principal Unpaid at Close of Period	$ 191,000
Borrower O [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Pleasant Valley, NY
Interest Rate	9.00%
Final Maturity Date	2020-09
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	230,000
Amount of Principal Unpaid at Close of Period	$ 214,000
Borrower P [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Fairhaven, MA
Interest Rate	9.00%
Final Maturity Date	2020-09
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	458,000
Amount of Principal Unpaid at Close of Period	$ 427,000
Borrower Q [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Baldwin, NY
Interest Rate	9.00%
Final Maturity Date	2020-09
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	300,000
Amount of Principal Unpaid at Close of Period	$ 282,000
Borrower R [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Leicester, MA
Interest Rate	9.00%
Final Maturity Date	2020-10
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	268,000
Amount of Principal Unpaid at Close of Period	$ 251,000
Borrower S [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Valley Cottage, NY
Interest Rate	9.00%
Final Maturity Date	2020-10
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	431,000
Amount of Principal Unpaid at Close of Period	$ 403,000
Borrower T [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Ephrata, PA
Interest Rate	9.00%
Final Maturity Date	2020-10
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	265,000
Amount of Principal Unpaid at Close of Period	$ 247,000
Borrower U [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Piscataway, NJ
Interest Rate	9.00%
Final Maturity Date	2020-11
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	121,000
Amount of Principal Unpaid at Close of Period	$ 103,000
Borrower V [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Westfield, MA
Interest Rate	9.00%
Final Maturity Date	2020-11
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	165,000
Amount of Principal Unpaid at Close of Period	$ 155,000
Borrower W [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Wilmington, DE
Interest Rate	9.00%
Final Maturity Date	2020-11
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	84,000
Amount of Principal Unpaid at Close of Period	$ 79,000
Borrower X [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Gettysburg, PA
Interest Rate	9.00%
Final Maturity Date	2020-11
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	69,000
Amount of Principal Unpaid at Close of Period	$ 64,000
Borrower Y [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Kenmore, NY
Interest Rate	9.00%
Final Maturity Date	2020-12
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	74,000
Amount of Principal Unpaid at Close of Period	$ 70,000
Borrower Z [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Stafford Springs, CT
Interest Rate	9.00%
Final Maturity Date	2021-01
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	232,000
Amount of Principal Unpaid at Close of Period	$ 218,000
Borrower AA [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Latham, NY
Interest Rate	9.00%
Final Maturity Date	2021-01
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	169,000
Amount of Principal Unpaid at Close of Period	$ 159,000
Borrower AB [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Magnolia, NJ
Interest Rate	9.00%
Final Maturity Date	2020-06
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	53,000
Amount of Principal Unpaid at Close of Period	$ 49,000
Borrower AC [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Colonia, NJ
Interest Rate	9.00%
Final Maturity Date	2020-07
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	320,000
Amount of Principal Unpaid at Close of Period	$ 297,000
Borrower AD [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Jersey City, NJ
Interest Rate	9.00%
Final Maturity Date	2018-07
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	500,000
Amount of Principal Unpaid at Close of Period	$ 464,000
Borrower AE [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Elmont, NY
Interest Rate	9.00%
Final Maturity Date	2021-10
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	450,000
Amount of Principal Unpaid at Close of Period	$ 384,000
Borrower AF [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Leola, PA
Interest Rate	9.00%
Final Maturity Date	2020-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	220,000
Amount of Principal Unpaid at Close of Period	$ 202,000
Borrower AG [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Lititz/Rothsville, PA
Interest Rate	9.00%
Final Maturity Date	2020-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	180,000
Amount of Principal Unpaid at Close of Period	$ 166,000
Borrower AH [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Bayonne, NJ
Interest Rate	9.00%
Final Maturity Date	2020-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	308,000
Amount of Principal Unpaid at Close of Period	$ 283,000
Borrower AI [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Ballston, NY
Interest Rate	9.00%
Final Maturity Date	2020-05
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	225,000
Amount of Principal Unpaid at Close of Period	$ 208,000
Borrower AJ [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Waterbury, CT
Interest Rate	9.00%
Final Maturity Date	2021-02
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	171,000
Amount of Principal Unpaid at Close of Period	$ 161,000
Borrower AK [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	White Plains, NY
Interest Rate	9.00%
Final Maturity Date	2021-02
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	444,000
Amount of Principal Unpaid at Close of Period	$ 418,000
Borrower AL [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Scarsdale, NY
Interest Rate	9.00%
Final Maturity Date	2025-11
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	337,000
Amount of Principal Unpaid at Close of Period	$ 317,000
Borrower AM [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	York, PA
Interest Rate	9.00%
Final Maturity Date	2021-02
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	102,000
Amount of Principal Unpaid at Close of Period	$ 96,000
Borrower AN [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Bristol, CT
Interest Rate	9.00%
Final Maturity Date	2021-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	230,000
Amount of Principal Unpaid at Close of Period	$ 217,000
Borrower AO [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Belleville, NJ
Interest Rate	9.00%
Final Maturity Date	2021-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	315,000
Amount of Principal Unpaid at Close of Period	$ 297,000
Borrower AP [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Southbridge, MA
Interest Rate	9.00%
Final Maturity Date	2021-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	300,000
Amount of Principal Unpaid at Close of Period	$ 283,000
Borrower AQ [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Ridgefield, NJ
Interest Rate	9.00%
Final Maturity Date	2021-04
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	172,000
Amount of Principal Unpaid at Close of Period	$ 163,000
Borrower AR [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Glenville, NY
Interest Rate	9.00%
Final Maturity Date	2021-04
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	325,000
Amount of Principal Unpaid at Close of Period	$ 308,000
Borrower AS [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Great Barrington, MA
Interest Rate	9.00%
Final Maturity Date	2021-04
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	58,000
Amount of Principal Unpaid at Close of Period	$ 55,000
Borrower AT [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Rockland, MA
Interest Rate	9.00%
Final Maturity Date	2021-04
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	134,000
Amount of Principal Unpaid at Close of Period	$ 127,000
Borrower AU [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Williamstown, NJ
Interest Rate	9.00%
Final Maturity Date	2021-04
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	42,000
Amount of Principal Unpaid at Close of Period	$ 40,000
Borrower AV [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Belford, NJ
Interest Rate	9.00%
Final Maturity Date	2021-04
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	134,000
Amount of Principal Unpaid at Close of Period	$ 127,000
Borrower AW [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Swedesboro, NJ
Interest Rate	9.00%
Final Maturity Date	2021-04
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	77,000
Amount of Principal Unpaid at Close of Period	$ 72,000
Borrower AX [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Hatboro, PA
Interest Rate	9.00%
Final Maturity Date	2021-04
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	84,000
Amount of Principal Unpaid at Close of Period	$ 80,000
Borrower AY [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Middlesex, NJ
Interest Rate	9.00%
Final Maturity Date	2021-05
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	255,000
Amount of Principal Unpaid at Close of Period	$ 242,000
Borrower AZ [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Coxsackie, NY
Interest Rate	9.00%
Final Maturity Date	2021-07
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	153,000
Amount of Principal Unpaid at Close of Period	$ 146,000
Borrower BA [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Newburgh, NY
Interest Rate	9.00%
Final Maturity Date	2021-09
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	394,000
Amount of Principal Unpaid at Close of Period	$ 376,000
Borrower BB [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Providence, RI
Interest Rate	9.00%
Final Maturity Date	2021-09
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	184,000
Amount of Principal Unpaid at Close of Period	$ 175,000
Borrower BC [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Warwick, RI
Interest Rate	9.00%
Final Maturity Date	2021-10
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	357,000
Amount of Principal Unpaid at Close of Period	$ 342,000
Borrower BD [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	New Bedford, MA
Interest Rate	9.00%
Final Maturity Date	2021-10
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	363,000
Amount of Principal Unpaid at Close of Period	$ 347,000
Borrower BE [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Fitchburg, MA
Interest Rate	9.00%
Final Maturity Date	2021-10
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	187,000
Amount of Principal Unpaid at Close of Period	$ 179,000
Borrower BF [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Queensbury, NY
Interest Rate	9.00%
Final Maturity Date	2021-11
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	176,000
Amount of Principal Unpaid at Close of Period	$ 169,000
Borrower BG [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Worcester, MA
Interest Rate	9.00%
Final Maturity Date	2021-11
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	237,000
Amount of Principal Unpaid at Close of Period	$ 227,000
Borrower BH [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Westfield, MA
Interest Rate	9.00%
Final Maturity Date	2021-11
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	303,000
Amount of Principal Unpaid at Close of Period	$ 291,000
Borrower BI [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	S. Yarmouth, MA
Interest Rate	9.00%
Final Maturity Date	2022-01
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	275,000
Amount of Principal Unpaid at Close of Period	$ 265,000
Borrower BJ [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Harwich Port, MA
Interest Rate	9.00%
Final Maturity Date	2022-01
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	293,000
Amount of Principal Unpaid at Close of Period	$ 282,000
Borrower BK [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Nyack, NY
Interest Rate	9.00%
Final Maturity Date	2022-09
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	253,000
Amount of Principal Unpaid at Close of Period	$ 248,000
Borrower BL [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Norwalk, CT
Interest Rate	9.00%
Final Maturity Date	2022-04
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	319,000
Amount of Principal Unpaid at Close of Period	$ 308,000
Borrower BM [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Hadley, MA
Interest Rate	9.00%
Final Maturity Date	2022-07
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	78,000
Amount of Principal Unpaid at Close of Period	$ 75,000
Borrower BN [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Clinton, MA
Interest Rate	9.00%
Final Maturity Date	2022-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	158,000
Amount of Principal Unpaid at Close of Period	$ 140,000
Borrower BO [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Worcester, MA
Interest Rate	9.00%
Final Maturity Date	2022-02
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	210,000
Amount of Principal Unpaid at Close of Period	$ 202,000
Borrower BP [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Pelham, NH
Interest Rate	9.00%
Final Maturity Date	2023-01
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	73,000
Amount of Principal Unpaid at Close of Period	$ 71,000
Borrower BQ [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Brewster, NY
Interest Rate	9.00%
Final Maturity Date	2022-10
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	554,000
Amount of Principal Unpaid at Close of Period	$ 542,000
Borrower BR [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Brewster, NY
Interest Rate	9.00%
Final Maturity Date	2022-08
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	333,000
Amount of Principal Unpaid at Close of Period	$ 324,000
Borrower BS [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Cranston, RI
Interest Rate	9.00%
Final Maturity Date	2022-08
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	153,000
Amount of Principal Unpaid at Close of Period	$ 149,000
Borrower BT [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Pawtucket, RI
Interest Rate	9.00%
Final Maturity Date	2023-01
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	31,000
Amount of Principal Unpaid at Close of Period	$ 30,000
Borrower BU [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	E. Providence, RI
Interest Rate	9.00%
Final Maturity Date	2022-02
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	186,000
Amount of Principal Unpaid at Close of Period	$ 179,000
Borrower BV [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	McConnellsburg, PA
Interest Rate	9.00%
Final Maturity Date	2023-01
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	38,000
Amount of Principal Unpaid at Close of Period	$ 38,000
Borrower BW [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Billerica, MA
Interest Rate	9.00%
Final Maturity Date	2023-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	98,000
Amount of Principal Unpaid at Close of Period	$ 96,000
Borrower BX [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Oxford, MA
Interest Rate	9.00%
Final Maturity Date	2023-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	86,000
Amount of Principal Unpaid at Close of Period	$ 84,000
Borrower BY [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Colonie, NY
Interest Rate	9.00%
Final Maturity Date	2023-08
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	143,000
Amount of Principal Unpaid at Close of Period	$ 142,000
Borrower BZ [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Malta, NY
Interest Rate	9.00%
Final Maturity Date	2023-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	572,000
Amount of Principal Unpaid at Close of Period	$ 564,000
Borrower CA [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Cairo, NY
Interest Rate	9.00%
Final Maturity Date	2023-08
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	113,000
Amount of Principal Unpaid at Close of Period	$ 112,000
Borrower CB [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Central Islip, NY
Interest Rate	9.00%
Final Maturity Date	2023-06
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	780,000
Amount of Principal Unpaid at Close of Period	$ 773,000
Borrower CC [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Seller financing
Locations	Pottsville, PA
Interest Rate	9.00%
Final Maturity Date	2023-03
Periodic Payment Terms	P & I
Prior Liens	$ 0
Face Value at Inception	23,000
Amount of Principal Unpaid at Close of Period	23,000
Mortgage Loans [Member]
Mortgage Loans on Real Estate [Line Items]
Prior Liens	0
Face Value at Inception	20,089,000
Amount of Principal Unpaid at Close of Period	$ 18,017,000
Note Receivable On Mortgage Loans [Member]
Mortgage Loans on Real Estate [Line Items]
Description	Purchase/leaseback
Locations	Various-NY
Interest Rate	9.50%
Final Maturity Date	2021-01
Periodic Payment Terms	I
Prior Liens	$ 0
Face Value at Inception	18,400,000
Amount of Principal Unpaid at Close of Period	$ 14,720,000

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Schedule IV - Changes in Carrying Amount of Mortgage Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Abstract]
Beginning balance	$ 48,455	$ 34,226	$ 28,793
New mortgage loans	1,814	17,876	8,278
Loan repayments	(16,714)	(2,883)	(2,294)
Collection of principal	(818)	(764)	(489)
Write-off of loan balance			(62)
Ending balance	$ 32,737	$ 48,455	$ 34,226