Real Estate Investments (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Real Estate Properties [Table Text Block]

The Company’s real estate investments consisted of the following as of March 31, 2017 and December 31, 2016 (in thousands, except number of properties):

	March 31, 2017		December 31, 2016

Number of Properties		377		366
Gross Leasable Area (in square feet)		7,326		7,033

Land	$	319,935	$	309,687
Buildings		737,605		703,506
Property under Development		8,414		6,764
Gross Real Estate Investments	$	1,065,954	$	1,019,957
Less Accumulated Depreciation	$	(73,657)		(69,696)
Net Real Estate Investments	$	992,297	$	950,261

Schedule of Completed or Commenced Construction on 14 Development [Table Text Block]

For the three months ended March 31, 2017, the Company has four development or PCS projects completed or currently under construction. Total anticipated project costs for those developments are approximately $21.5 million and include the following completed or commenced projects:

Tenant	Location	Lease Structure	Lease Term	Actual or Anticipated Rent Commencement	Status
Camping World	Tyler, TX	Build-to-Suit	20 Years	Q1 2017	Completed
Burger King(1)	Heber, UT	Build-to-Suit	20 Years	Q1 2017	Completed
Orchard Supply	Boynton Beach, FL	Build-to-Suit	15 Years	Q3 2017	Under Construction
Camping World	Georgetown, KY	Build-to-Suit	20 Years	Q3 2017	Under Construction

(1)

Franchise restaurants operated by Meridian Restaurants Unlimited, LC.