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Notes Payable (Details) (USD $)
12 Months Ended 1 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Sep. 30, 2010
Dec. 31, 2011
2012 Notes [Member]
Dec. 31, 2011
2014 Notes [Member]
Jun. 30, 2004
2014 Notes [Member]
Dec. 31, 2011
2015 Notes [Member]
Dec. 31, 2011
2017 Notes [Member]
Sep. 30, 2007
2017 Notes [Member]
Dec. 31, 2011
2021 Notes [Member]
Jun. 30, 2011
2021 Notes [Member]
Sep. 30, 2010
8.5% Notes due in September 2010 [Member]
Notes Payable [Line Items]                        
Principal       $ 50,000,000 [1],[2] $ 150,000,000 [1],[3],[4]   $ 150,000,000 [1] $ 250,000,000 [1],[5]   $ 300,000,000 [1],[6]    
Discount 5,033,000 1,118,000   287,000 [1],[2],[7] 440,000 [1],[3],[4],[7]   390,000 [1],[7] 877,000 [1],[5],[7]   4,269,000 [1],[6],[7]    
Net Price       49,713,000 [1],[2] 149,560,000 [1],[3],[4]   149,610,000 [1] 249,123,000 [1],[5]   295,731,000 [1],[6]    
Stated Rate     8.50% 7.75% [1],[2] 6.25% [1],[3],[4]   6.15% [1] 6.875% [1],[5]   5.50% [1],[5]    
Effective Rate       7.833% [1],[2],[8] 5.91% [1],[3],[4],[8]   6.185% [1],[8] 6.924% [8]   5.69% [1],[6],[8]    
Derivative, Fixed Interest Rate           461.00%            
Notional amount           94,000,000     100,000,000   150,000,000  
Liability amount from termination of hedge agreement                 3,260,000   5,300,000  
Liability amount from termination of hedge agreement, comprehensive income           4,148,000     3,228,000   5,218,000  
Debt Issuance Costs Incurred 8,001,000                      
Principal Amount of 8.5% Notes Payable                       $ 20,000,000
[1] The proceeds from the note issuance were used to pay down outstanding indebtedness of NNN’s Credit Facility.
[2] NNN plans to use proceeds from the Credit Facility to repay outstanding indebtedness.
[3] The proceeds from the note issuance were used to repay the obligation of the 2004 Notes.
[4] NNN entered into a forward starting interest rate swap agreement which fixed a swap rate of 4.61% on a notional amount of $94,000. Upon issuance of the 2014 Notes, NNN terminated the forward starting interest rate swap agreement resulting in a gain of $4,148. The gain has been deferred and is being amortized as an adjustment to interest expense over the term of the 2014 Notes using the effective interest method.
[5] NNN entered into an interest rate hedge with a notional amount of $100,000. Upon issuance of the 2017 Notes, NNN terminated the interest rate hedge agreement resulting in a liability of $3,260, of which $3,228 was recorded to other comprehensive income. The liability has been deferred and is being amortized as an adjustment to interest expense over the term of the 2017 Notes using the effective interest method.
[6] NNN entered into two interest rate hedges with a total notional amount of $150,000. Upon issuance of the 2021 Notes, NNN terminated the interest rate hedge agreements resulting in a liability of $5,300, of which $5,218 was deferred in other comprehensive income. The deferred liability is being amortized over the term of the note using the effective interest method.
[7] The note discounts are amortized to interest expense over the respective term of each debt obligation using the effective interest method.
[8] Includes the effects of the discount, treasury lock gain and swap gain (as applicable).