Subsequent Events

12 Months Ended

Dec. 31, 2012

Subsequent Events [Abstract]

Subsequent Events [Text Block]

18. Subsequent Events

In January 2013, the Company granted 82,050 shares of restricted stock to employees and associates under the 2005 Plan. The restricted shares vest over a five year period based on continued service to the Company.

On January 14, 2013, the Company completed a secondary offering of 1,725,000 shares of common stock, including 225,000 shares pursuant to the underwriters’ overallotment option. The offering raised net proceeds of approximately $44.9 million after deducting the underwriting discount and other expenses. The net proceeds of the offering were used to pay down amounts outstanding under the Credit Facility and for general corporate purposes.

On March 5, 2013, the Company declared a dividend of $.41 per share for the quarter ending March 31, 2013 for holders of record on March 29, 2013. The holders of OP Units are also entitled to an equal distribution per OP Unit held as of March 29, 2013. The amounts are to be paid on April 9, 2013.

The Company evaluates events occurring after the date of the financial statements for events requiring recording or disclosure in the financial statements