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Investments in Real Estate and Real Estate Under Construction (Tables)
9 Months Ended
Sep. 30, 2011
Investments in Real Estate and Real Estate Under Construction [Abstract] 
Schedule of Acquired Properties [Table Text Block]
The Company, through property owner subsidiaries, acquired the following operating properties in separate transactions during the nine months ended September 30, 2011:

 
 
 
 
 
 
 
 
 
Lease Intangibles
Property Type
Location
Acquisition Date
Initial Cost Basis
Lease Expiration
Land
 
Building and Improvements
 
Lease in-place Value
 
Customer Relationships Value
Industrial
Byhalia, MS
May 2011
$
27,492

03/2026
$
1,005

 
$
21,483

 
$
4,097

 
$
907

Office
Rock Hill, SC
May 2011
$
7,395

08/2021
$
551

 
$
4,313

 
$
1,853

 
$
678

Office (1)
Allen, TX
May 2011
$
36,304

03/2018
$
5,591

 
$
21,607

 
$
5,127

 
$
3,979

Industrial (2)
Shelby, NC
June 2011
$
23,470

05/2031
$
1,421

 
$
18,917

 
$
2,712

 
$
420

Office
Columbus, OH
July 2011
$
6,137

07/2027
$
433

 
$
2,773

 
$
2,205

 
$
726

 
 
 
$
100,798

 
$
9,001

 
$
69,093

 
$
15,994

 
$
6,710

(1)     The Company acquired the property from Net Lease Strategic Assets Fund L.P. pursuant to a purchase option.
(2)     The Company funded the construction of the property commencing in 2010.
Schedule of Acquisition Development and Construction Arrangements Outstanding [Table Text Block]
As of September 30, 2011, the Company had the following development arrangements outstanding:
Location
Property Type
Square Feet
 
Expected Maximum Commitment/Contribution
 
Estimated Purchase Price/Completion Cost
 
Lease Term (Years)
 
Estimated Completion Date
Saint Joseph, MO(1)
Office
99,000

 
$
17,991

 
$
17,991

 
15
 
2Q 12
Huntington, WV(1)
Office
70,000

 
$
11,826

 
$
13,000

 
15
 
4Q 11
Shreveport, LA(1)
Industrial
257,000

 
$
2,520

 
$
13,064

 
10
 
2Q 12
Florence, SC
Office
32,000

 
$
5,128

 
$
5,128

 
12
 
1Q 12
Long Island City, NY(2)
Industrial
143,000

 
$
46,728

 
$
55,524

 
15
 
1Q 13
Jessup, PA
Office
150,000

 
$
20,780

 
$
20,780

 
15
 
2Q 12
 
 
751,000

 
$
104,973

 
$
125,487

 
 
 
 
(1) Acquisition, development and construction arrangement.
(2) Joint venture investment. The Company has guaranteed completion to the ground owner. The guarantee obligation was valued at $1,500 and is included in accounts payable and other liabilities in the unaudited condensed consolidated balance sheet. In addition, the Company may loan a maximum of $4,398 to the joint venture under certain circumstances.