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Real Estate Investments (Tables)

9 Months Ended

Sep. 30, 2012


Real estate investments, at cost:
Land	$	10,228
Buildings, fixtures and improvements		75,360
Total tangible assets		85,588
Acquired intangibles:
In-place leases		13,262
Total assets acquired, net		98,850
OP Units issued to acquire real estate investments		(6,352	)
Cash paid to acquire real estate investments	$	92,498
Number of properties acquired		36

Schedule of Real Estate Properties

No. of Buildings		Square Feet		Base Purchase Price⁽¹⁾
Total Portfolio - September 30, 2012⁽²⁾	124		2,198,877		$	235,723
Acquisitions	2		14,985			2,258
Total portfolio - October 26, 2012⁽²⁾	126		2,213,862		$	237,981

(1)

Contract purchase price, excluding acquisition and transaction related costs.

(2)

Total portfolio excludes one vacant property contributed in September 2011 which was classified as held for sale at September 30, 2012. The aggregate square footage and original base purchase price of this contributed vacant property was 3,200 and $1.2 million, respectively.

Schedule of Future Minimum Rental Payments for Operating Leases

Future Minimum Base Rent Payments
October 1, 2012 - December 31, 2012	$	4,980
2013		20,228
2014		20,416
2015		20,246
2016		19,858
Thereafter		72,222
	$	157,950

Schedule of Annualized Rental Income by Major Tenants

Tenant	September 30, 2012			September 30, 2011
Citizens Bank		33.4	%		75.0	%
John Deere		11.7	%		-	%
GSA		11.4	%		-	%
Home Depot		11.2	%		25.0	%

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

State	September 30, 2012			September 30, 2011
Michigan		14.2	%		22.7	%
South Carolina		12.4	%		25.0	%
Ohio		11.8	%		20.0	%
Iowa		11.7	%		*
New York		10.4	%		11.7	%

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 51

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph F4

-Subparagraph e

-Appendix F

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141R

-Paragraph 68

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 141

-Paragraph 52

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References+ Details