Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Real estate assets and lease intangibles:
Land	$ 49,246,634	$ 51,274,462
Buildings and improvements	190,028,533	190,274,191
Tenant improvements	21,942,782	21,473,750
Lease intangibles	13,383,080	13,811,291
Real estate assets and lease intangibles, cost	274,601,029	276,833,694
Accumulated depreciation and amortization	(39,177,141)	(36,311,485)
Real estate assets and lease intangibles, net	235,423,888	240,522,209
Cash and cash equivalents	5,847,369	3,116,147
Restricted cash	3,046,359	4,271,648
Deferred leasing costs, net	1,887,513	1,920,091
Goodwill	2,423,000	2,423,000
Other assets, net	5,451,230	5,745,982
TOTAL ASSETS	254,079,359	257,999,077
Liabilities:
Mortgage notes payable, net	159,952,064	158,886,111
Accounts payable and accrued liabilities	6,062,847	6,066,068
Accrued real estate taxes	1,327,791	2,318,990
Dividends payable	1,224,122	1,171,924
Below-market leases, net	1,530,323	1,698,086
Total liabilities	200,559,114	202,249,447
Commitments and contingencies
Equity:
Additional paid-in capital	150,629,093	149,539,782
Dividends in excess of accumulated losses	(111,162,810)	(106,623,957)
Total stockholders' equity before noncontrolling interest	39,642,476	43,090,853
Noncontrolling interest	13,877,769	12,658,777
Total equity	53,520,245	55,749,630
TOTAL LIABILITIES AND EQUITY	254,079,359	257,999,077
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; 30,700 and 32,700 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively, net	30,461,967	32,108,268
Common Class A [Member]
Equity:
Common stock series A, $0.01 par value, shares authorized: 100,000,000; 17,619,118 and 17,502,673 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	$ 176,193	$ 175,028