Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of September 30, 2015 and December 31, 2014:

	As of
	September 30, 2015			December 31, 2014
Intangible Lease Assets:
Value of In-Place Leases, net	$	10,913,536		$	9,043,617
Value of Above Market In-Place Leases, net		1,355,015			330,424
Value of Intangible Leasing Costs, net		2,472,282			978,082
Sub-total Intangible Lease Assets		14,740,833			10,352,123
Intangible Lease Liabilities (included in accrued and other    liabilities):
Value of Below Market In-Place Leases, net		(653,134	)		(669,693	)
Sub-total Intangible Lease Liabilities		(653,134	)		(669,693	)
Total Intangible Assets—Net	$	14,087,699		$	9,682,430

Summary of Estimated Amortization Expense

The estimated future amortization expense related to net intangible assets is as follows:

Year Ending December 31,	Amount
Remainder of 2015	$	502,082
2016		1,958,314
2017		1,879,485
2018		1,856,856
2019		1,824,032
2020		1,626,075
Thereafter		4,440,855
Total	$	14,087,699