|
Investments in Real Estate (Details) (USD $)
|
3 Months Ended |
|
Mar. 31, 2015
item
sqft
|
Mar. 31, 2014
|
| Real estate properties |
|
|
| Leasable square feet |
71,600,000 |
|
| Number of investments in properties that caused any tenant to be 10% of more of total assets |
0 |
|
| Mortgages acquired |
|
$ 45,900,000 |
| Contingent consideration associated with acquisition |
0 |
0 |
| Total revenue |
246,867,000 |
221,572,000 |
| Income from continuing operations |
67,581,000 |
54,916,000 |
| In-place lease, depreciation and amortization to expense |
21,600,000 |
20,100,000 |
| Net (increase) decrease to rental income for capitalized above market and below market leases |
1,700,000 |
2,000,000 |
| Net increase (decrease) to rental revenue |
|
|
| 2015 |
(5,889,000) |
|
| 2016 |
(7,864,000) |
|
| 2017 |
(7,809,000) |
|
| 2018 |
(7,549,000) |
|
| 2019 |
(6,563,000) |
|
| Thereafter |
29,291,000 |
|
| Totals |
(6,383,000) |
|
| Increase to amortization expense |
|
|
| 2015 |
65,083,000 |
|
| 2016 |
86,533,000 |
|
| 2017 |
85,333,000 |
|
| 2018 |
82,889,000 |
|
| 2019 |
72,831,000 |
|
| Thereafter |
429,602,000 |
|
| Totals |
822,271,000 |
|
| Maximum |
|
|
| Real estate properties |
|
|
| Investments to any one tenant as a percentage of total assets |
10.00% |
|
| New properties and properties under development |
|
|
| Real estate properties |
|
|
| Real estate acquired |
209,900,000 |
656,700,000 |
| Number of properties |
83 |
337 |
| Initial weighted average contractual lease rate of properties acquired (as a percent) |
6.90% |
7.00% |
| Number of states in which properties are located |
24 |
35 |
| Leasable square feet |
1,600,000 |
4,500,000 |
| Leased area (as a percent) |
100.00% |
100.00% |
| Weighted average lease term |
15 years 6 months |
14 years 2 months 12 days |
| Number of industries in which tenants operate |
12 |
15 |
| Acquisition transaction costs |
94,000 |
454,000 |
| New properties and properties under development | Retail properties |
|
|
| Real estate properties |
|
|
| Property type- percentage of properties acquired |
74.20% |
87.60% |
| New properties and properties under development | Office properties |
|
|
| Real estate properties |
|
|
| Property type- percentage of properties acquired |
|
4.60% |
| New properties and properties under development | Industrial and distribution properties |
|
|
| Real estate properties |
|
|
| Property type- percentage of properties acquired |
25.80% |
7.80% |
| Properties under development or expansion |
|
|
| Real estate properties |
|
|
| Number of properties |
25 |
13 |
| Initial weighted average contractual lease rate of properties acquired (as a percent) |
9.00% |
8.40% |
| Investments in properties |
15,300,000 |
13,400,000 |
| Aggregate acquisitions |
|
|
| Real estate properties |
|
|
| Real estate acquired |
209,900,000 |
656,700,000 |
| Discounts/(Premiums) recorded upon assumption of mortgages |
|
2,800,000 |
| Land recorded related to acquisition |
39,800,000 |
132,200,000 |
| Buildings and improvements recorded |
121,200,000 |
455,300,000 |
| Intangible assets related to leases recorded |
41,600,000 |
74,000,000 |
| Other assets recorded |
14,100,000 |
901,000 |
| Intangible liabilities related to leases and other assumed liabilities recorded |
6,800,000 |
8,500,000 |
| Mortgages acquired |
|
45,900,000 |
| Total revenue |
1,500,000 |
7,900,000 |
| Income from continuing operations |
712,000 |
3,200,000 |
| Amount of investment allocated by estimate |
197,700,000 |
|
| Amount of investment previously allocated by estimate finalized during the period |
147,100,000 |
|
| Investments in Existing Properties |
|
|
| Real estate properties |
|
|
| Total capitalized costs on existing properties |
1,300,000 |
1,400,000 |
| Re-leasing costs included in capitalized costs on existing properties |
313,000 |
192,000 |
| Building and tenant improvements included in capitalized costs on existing properties |
1,000,000 |
1,200,000 |
| Real estate investments with existing leases |
|
|
| Real estate properties |
|
|
| Real estate acquired |
$ 114,200,000 |
$ 403,800,000 |
| Number of properties |
14 |
90 |