Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Real estate assets and lease intangibles:
Land	$ 50,122,792	$ 49,965,418
Buildings and improvements	184,971,050	177,360,584
Tenant improvements	21,063,947	19,876,549
Lease intangibles	13,811,291	13,845,100
Real estate assets and lease intangibles, cost	269,969,080	261,047,651
Accumulated depreciation and amortization	(33,966,257)	(29,961,472)
Real estate assets and lease intangibles, net	236,002,823	231,086,179
Cash and cash equivalents	4,703,000	6,626,423
Restricted cash	3,766,913	6,759,786
Deferred leasing costs, net	1,824,555	1,483,014
Goodwill	2,423,000	2,423,000
Other assets, net	5,550,102	5,895,991
TOTAL ASSETS	254,270,393	254,274,393
Liabilities:
Mortgage notes payable, net	152,721,661	142,638,401
Accounts payable and accrued liabilities	6,838,627	7,458,761
Accrued real estate taxes	1,927,884	2,401,770
Dividends payable	1,155,498	1,063,454
Below-market leases, net	1,808,531	2,154,479
Total liabilities	196,306,870	189,110,736
Commitments and contingencies
Equity:
Additional paid-in capital	148,451,070	146,712,853
Dividends in excess of accumulated losses	(103,061,517)	(93,821,328)
Total stockholders' equity before noncontrolling interest	45,563,376	53,063,548
Noncontrolling interest	12,400,147	12,100,109
Total equity	57,963,523	65,163,657
TOTAL LIABILITIES AND EQUITY	254,270,393	254,274,393
Redeemable Convertible Preferred Stock Series B [Member]
Liabilities:
Mandatorily redeemable Series B Preferred Stock, net, $0.01 par value, $1,000 liquidating preference; shares authorized: 35,000; 32,700 and 35,000 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively, net	31,854,669	33,393,871
Common Class A [Member]
Equity:
Common stock series A, $0.01 par value, shares authorized: 100,000,000; 17,382,264 and 17,202,228 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	$ 173,823	$ 172,023