Impairments - Real Estate

9 Months Ended

Sep. 30, 2012

Property, Plant and Equipment [Abstract]

Asset Impairment Charges [Text Block]

Impairments - Real Estate:

Management periodically assesses the Company's real estate for possible impairment whenever events or changes in circumstances indicate that the carrying amount of the asset, including accrued rental income, may not be recoverable through operations.  Events or circumstances that may occur include changes in real estate market conditions, the ability of NNN to re-lease properties that are vacant, and the ability to sell properties at an attractive price. Impairments are measured as the amount by which the current book value of the asset exceeds the estimated fair value of the asset.

As a result of the Company's review of long lived assets, including identifiable intangible assets, NNN recognized the following real estate impairments (dollars in thousands):

	Quarter Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Continuing operations	$	7,261	$	—	$	7,296	$	—
Discontinued operations	1,402		431		1,747		431
	$	8,663	$	431	$	9,043	$	431

The valuation of impaired assets is determined using widely accepted valuation techniques including discounted cash flow analysis, income capitalization, analysis of recent comparable sales transactions, actual sales negotiations and bona fide purchase offers received from third parties. NNN may consider a single valuation technique or multiple valuation techniques, as appropriate, when measuring the fair value of its real estate.