10-Q Filing

AGREE REALTY CORP CIK: 917251 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-044066`
Period End Date	20110630
Filing Date	20110805
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	adc-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 103 Income Statement 97 Cash Flow Statement 68 Stockholders Equity 8

Balance Sheet 103 line items

Line Item	Tag	Value	Unit	Period
Accounts Receivable - Tenants, allowance	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Accounts Receivable - Tenants, allowance	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Financing costs, accumulated amortization	`AccumulatedAmortizationDeferredFinanceCosts`	$5.39M	USD	Point-in-time
Financing costs, accumulated amortization	`AccumulatedAmortizationDeferredFinanceCosts`	$5.52M	USD	Point-in-time
Land	`Land`	$103.69M	USD	Point-in-time
Land	`Land`	$105.21M	USD	Point-in-time
Leasing costs, accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$986.69K	USD	Point-in-time
Leasing costs, accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$934.40K	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$230.19M	USD	Point-in-time
Lease intangibles costs, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$50.48K	USD	Point-in-time
Lease intangibles costs, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$154.23K	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$227.65M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$66.11M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$69.08M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	13.35M	shares	Point-in-time
Property, Plant and Equipment, Net, Total	`PropertyPlantAndEquipmentNet`	$265.23M	USD	Point-in-time
Property, Plant and Equipment, Net, Total	`PropertyPlantAndEquipmentNet`	$266.33M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	13.35M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.86M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$308.68K	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$359.30K	USD	Point-in-time
Property held for sale, net	`RealEstateHeldforsale`	$6.52M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.86M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.76M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$272.11M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$266.63M	USD	Point-in-time
Excess stock, par value	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Excess stock, par value	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	6.50M	shares	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	6.50M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$688.67K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$357.41K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$851.86K	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 at June 30, 2011 and December 31, 2010	`AccountsReceivableNet`	$1.33M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 at June 30, 2011 and December 31, 2010	`AccountsReceivableNet`	$2.67M	USD	Point-in-time
Excess stock, shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Excess stock, shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Excess stock, shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Excess stock, shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Financing costs, net of accumulated amortization of $5,518,802 and $5,392,802 at June 30, 2011 and December 31, 2010, respectively	`DeferredFinanceCostsNet`	$1.02M	USD	Point-in-time
Financing costs, net of accumulated amortization of $5,518,802 and $5,392,802 at June 30, 2011 and December 31, 2010, respectively	`DeferredFinanceCostsNet`	$1.13M	USD	Point-in-time
Series A junior participating preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A junior participating preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A junior participating preferred stock, shares authorized	`PreferredStockSharesAuthorized`	150,000.00	shares	Point-in-time
Series A junior participating preferred stock, shares authorized	`PreferredStockSharesAuthorized`	150,000.00	shares	Point-in-time
Leasing costs, net of accumulated amortization of $986,686 and $934,399 at June 30, 2011 and December 31, 2010, respectively	`DeferredCostsLeasingNet`	$796.76K	USD	Point-in-time
Leasing costs, net of accumulated amortization of $986,686 and $934,399 at June 30, 2011 and December 31, 2010, respectively	`DeferredCostsLeasingNet`	$812.29K	USD	Point-in-time
Series A junior participating preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Lease intangibles costs, net of accumulated amortization of $154,231 and $50,479 at June 30, 2011 and December 31, 2010 respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$8.54M	USD	Point-in-time
Series A junior participating preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Lease intangibles costs, net of accumulated amortization of $154,231 and $50,479 at June 30, 2011 and December 31, 2010 respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$8.15M	USD	Point-in-time
Other Assets	`OtherAssets`	$911.80K	USD	Point-in-time
Series A junior participating preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Series A junior participating preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$851.01K	USD	Point-in-time
Assets, Total	`Assets`	$285.04M	USD	Point-in-time
Assets, Total	`Assets`	$281.36M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$71.53M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$68.80M	USD	Point-in-time
Notes Payable	`NotesPayable`	$27.33M	USD	Point-in-time
Notes Payable	`NotesPayable`	$28.38M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$5.15M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.08M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$9.35M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$9.00M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$273.22K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$221.15K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$286.08K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$456.16K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.43M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.64M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$793.21K	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$780.87K	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilities`	$705.00K	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilities`	$705.00K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$80.40K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$83.57K	USD	Point-in-time
Total Liabilities	`Liabilities`	$117.91M	USD	Point-in-time
Total Liabilities	`Liabilities`	$113.14M	USD	Point-in-time
Common stock, $0.0001 par value; 13,350,000 shares authorized, 9,857,314 and 9,759,014 shares issued and outstanding, respectively	`CommonStockValue`	$985.00	USD	Point-in-time
Common stock, $0.0001 par value; 13,350,000 shares authorized, 9,857,314 and 9,759,014 shares issued and outstanding, respectively	`CommonStockValue`	$976.00	USD	Point-in-time
Excess stock, $0.0001 par value, 6,500,000 shares authorized, 0 shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Excess stock, $0.0001 par value, 6,500,000 shares authorized, 0 shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Series A junior participating preferred stock, $0.0001 par value, 150,000 shares authorized, 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Series A junior participating preferred stock, $0.0001 par value, 150,000 shares authorized, 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$179.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$180.42M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-14.70M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-14.36M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-764.74K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-752.82K	USD	Point-in-time
Total stockholders' equity-Agree Realty Corporation	`StockholdersEquity`	$165.32M	USD	Point-in-time
Total stockholders' equity-Agree Realty Corporation	`StockholdersEquity`	$164.24M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.89M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.90M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$167.13M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$168.22M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$285.04M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$281.36M	USD	Point-in-time

Income Statement 97 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$8.29M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$15.84M	USD	2 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$17.35M	USD	2 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$7.95M	USD	1 Quarter
Percentage rents	`PercentageRent`	$13.00K	USD	2 Qtrs
Percentage rents	`PercentageRent`	$21.41K	USD	2 Qtrs
Percentage rents	`PercentageRent`	$5.35K	USD	1 Quarter
Percentage rents	`PercentageRent`	$12.53K	USD	1 Quarter
Operating cost reimbursements	`TenantReimbursements`	$1.31M	USD	2 Qtrs
Operating cost reimbursements	`TenantReimbursements`	$1.50M	USD	2 Qtrs
Operating cost reimbursements	`TenantReimbursements`	$761.62K	USD	1 Quarter
Operating cost reimbursements	`TenantReimbursements`	$640.58K	USD	1 Quarter
Development fee income	`ConstructionRevenue`	$138.90K	USD	1 Quarter
Development fee income	`ConstructionRevenue`	$894.69K	USD	2 Qtrs
Development fee income	`ConstructionRevenue`	$483.27K	USD	1 Quarter
Development fee income	`ConstructionRevenue`	$535.90K	USD	2 Qtrs
Other income	`OtherIncome`	$61.06K	USD	1 Quarter
Other income	`OtherIncome`	$83.55K	USD	2 Qtrs
Other income	`OtherIncome`	$34.60K	USD	2 Qtrs
Other income	`OtherIncome`	$16.83K	USD	1 Quarter
Total Revenues	`Revenues`	$19.85M	USD	2 Qtrs
Total Revenues	`Revenues`	$9.61M	USD	1 Quarter
Total Revenues	`Revenues`	$17.74M	USD	2 Qtrs
Total Revenues	`Revenues`	$8.76M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$507.30K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$791.30K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$1.41M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$996.66K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$725.72K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$330.04K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$809.42K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$388.21K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$481.86K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$96.83K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$193.65K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$254.70K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.96M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.45M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.20M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.75M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.62M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.25M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.41M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$4.58M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$7.12M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$8.91M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$3.54M	USD	1 Quarter
Income From Operations	`OperatingIncomeLoss`	$10.94M	USD	2 Qtrs
Income From Operations	`OperatingIncomeLoss`	$10.61M	USD	2 Qtrs
Income From Operations	`OperatingIncomeLoss`	$5.03M	USD	1 Quarter
Income From Operations	`OperatingIncomeLoss`	$5.21M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.39M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$1.21M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.12M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.51M	USD	2 Qtrs
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.09M	USD	1 Quarter
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$3.82M	USD	1 Quarter
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.43M	USD	2 Qtrs
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.22M	USD	2 Qtrs
Gain (loss) on sale of asset from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-3.35K	USD	1 Quarter
Gain (loss) on sale of asset from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$5.33M	USD	2 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$344.70K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$91.82K	USD	2 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$851.58K	USD	2 Qtrs
Net Income	`ProfitLoss`	$4.43M	USD	1 Quarter
Net Income	`ProfitLoss`	$14.40M	USD	2 Qtrs
Net Income	`ProfitLoss`	$3.82M	USD	1 Quarter
Net Income	`ProfitLoss`	$8.52M	USD	2 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$130.21K	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$542.45K	USD	2 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$290.45K	USD	2 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$140.06K	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$8.23M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$13.86M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$3.69M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.29M	USD	1 Quarter
Earnings Per Share - Basic	`EarningsPerShareBasic`	$0.86	USD	2 Qtrs
Earnings Per Share - Basic	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Earnings Per Share - Basic	`EarningsPerShareBasic`	$1.59	USD	2 Qtrs
Earnings Per Share - Basic	`EarningsPerShareBasic`	$0.46	USD	1 Quarter
Earnings Per Share - Dilutive	`EarningsPerShareDiluted`	$0.46	USD	1 Quarter
Earnings Per Share - Dilutive	`EarningsPerShareDiluted`	$0.85	USD	2 Qtrs
Earnings Per Share - Dilutive	`EarningsPerShareDiluted`	$1.59	USD	2 Qtrs
Earnings Per Share - Dilutive	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Dividend Declared Per Share	`CommonStockDividendsPerShareDeclared`	$0.40	USD	1 Quarter
Dividend Declared Per Share	`CommonStockDividendsPerShareDeclared`	$1.02	USD	2 Qtrs
Dividend Declared Per Share	`CommonStockDividendsPerShareDeclared`	$0.80	USD	2 Qtrs
Dividend Declared Per Share	`CommonStockDividendsPerShareDeclared`	$0.51	USD	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.63M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.32M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.63M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.71M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Dilutive	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.73M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Dilutive	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.66M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Dilutive	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.66M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Dilutive	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.35M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Acquisition of real estate investments, capitalized interest	`InterestCapitalizedForRealEstateUnderDevelopment`	-	USD	2 Qtrs
Acquisition of real estate investments, capitalized interest	`InterestCapitalizedForRealEstateUnderDevelopment`	$148.51K	USD	2 Qtrs
Net income	`ProfitLoss`	$4.43M	USD	1 Quarter
Net income	`ProfitLoss`	$14.40M	USD	2 Qtrs
Net income	`ProfitLoss`	$3.82M	USD	1 Quarter
Net income	`ProfitLoss`	$8.52M	USD	2 Qtrs
Depreciation	`Depreciation`	$2.87M	USD	2 Qtrs
Depreciation	`Depreciation`	$2.99M	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$387.32K	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$171.96K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$718.71K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$562.00K	USD	2 Qtrs
Gain on sale of asset	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-3.35K	USD	1 Quarter
Gain on sale of asset	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$5.33M	USD	2 Qtrs
(Increase) Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.02M	USD	2 Qtrs
(Increase) Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.34M	USD	2 Qtrs
(Increase) Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-109.00K	USD	2 Qtrs
(Increase) Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-63.27K	USD	2 Qtrs
(Increase) Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$211.56K	USD	2 Qtrs
(Increase) Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-373.98K	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-344.77K	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-344.77K	USD	2 Qtrs
Increase (Decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$52.06K	USD	2 Qtrs
Increase (Decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-41.69K	USD	2 Qtrs
Increase (Decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-10.10K	USD	2 Qtrs
Increase (Decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$3.17K	USD	2 Qtrs
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$11.31M	USD	2 Qtrs
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$10.95M	USD	2 Qtrs
Acquisition of real estate investments (including capitalized interest of $-0- in 2011 and $148,507 in 2010)	`PaymentsToAcquireProductiveAssets`	$11.56M	USD	2 Qtrs
Acquisition of real estate investments (including capitalized interest of $-0- in 2011 and $148,507 in 2010)	`PaymentsToAcquireProductiveAssets`	$4.22M	USD	2 Qtrs
Proceeds from sale of asset	`ProceedsFromSaleOfProductiveAssets`	$9.76M	USD	2 Qtrs
Proceeds from sale of asset	`ProceedsFromSaleOfProductiveAssets`	$6.52M	USD	2 Qtrs
Payments of leasing costs	`PaymentsToAcquireIntangibleAssets`	$64.21K	USD	2 Qtrs
Payments of leasing costs	`PaymentsToAcquireIntangibleAssets`	$36.76K	USD	2 Qtrs
Increase in cash - restricted	`IncreaseDecreaseInRestrictedCash`	$2.10M	USD	2 Qtrs
Net Cash Provided By (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$2.26M	USD	2 Qtrs
Net Cash Provided By (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.96M	USD	2 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$31.07M	USD	2 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$1.98M	USD	2 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$2.73M	USD	2 Qtrs
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$8.76M	USD	2 Qtrs
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$9.24M	USD	2 Qtrs
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$11.39M	USD	2 Qtrs
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$16.91M	USD	2 Qtrs
Line-of-credit (repayments)	`RepaymentsOfLinesOfCredit`	$17.96M	USD	2 Qtrs
Line-of-credit (repayments)	`RepaymentsOfLinesOfCredit`	$38.69M	USD	2 Qtrs
Repayments of capital expenditure payables	`RepaymentsOfOtherDebt`	$286.08K	USD	2 Qtrs
Repayments of capital expenditure payables	`RepaymentsOfOtherDebt`	$352.43K	USD	2 Qtrs
Payments of financing costs	`PaymentsOfFinancingCosts`	$11.03K	USD	2 Qtrs
Payments of financing costs	`PaymentsOfFinancingCosts`	$649.00	USD	2 Qtrs
Net Cash Used In Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.32M	USD	2 Qtrs
Net Cash Used In Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.31M	USD	2 Qtrs
Net Decrease In Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$258.58K	USD	2 Qtrs
Net Decrease In Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-331.27K	USD	2 Qtrs
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$688.67K	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$357.41K	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$851.86K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$688.67K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$357.41K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$851.86K	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$2.30M	USD	2 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$2.33M	USD	2 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableAmount`	$5.13M	USD	Point-in-time
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableAmount`	$4.08M	USD	Point-in-time
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.69M	USD	2 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$456.16K	USD	2 Qtrs

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$167.13M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$168.22M	USD	Point-in-time
Net income for the period January 1, 2011 to June 30, 2011	`ProfitLoss`	$4.43M	USD	1 Quarter
Net income for the period January 1, 2011 to June 30, 2011	`ProfitLoss`	$14.40M	USD	2 Qtrs
Net income for the period January 1, 2011 to June 30, 2011	`ProfitLoss`	$3.82M	USD	1 Quarter
Net income for the period January 1, 2011 to June 30, 2011	`ProfitLoss`	$8.52M	USD	2 Qtrs
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$167.13M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$168.22M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.