10-K Filing

AGREE REALTY CORP CIK: 917251 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001144204-12-014138`
Period End Date	20111231
Filing Date	20120312
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	adc-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 103 Income Statement 89 Cash Flow Statement 101 Stockholders Equity 7

Balance Sheet 103 line items

Line Item	Tag	Value	Unit	Period
Accounts Receivable - Tenants, allowance for possible losses	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Accounts Receivable - Tenants, allowance for possible losses	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Financing costs, accumulated amortization	`AccumulatedAmortizationDeferredFinanceCosts`	$5.71M	USD	Point-in-time
Financing costs, accumulated amortization	`AccumulatedAmortizationDeferredFinanceCosts`	$5.39M	USD	Point-in-time
Land	`Land`	$103.69M	USD	Point-in-time
Leasing costs, accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$934.40K	USD	Point-in-time
Leasing costs, accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$1.21M	USD	Point-in-time
Land	`Land`	$108.67M	USD	Point-in-time
Lease intangibles costs, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$50.48K	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$227.65M	USD	Point-in-time
Lease intangibles costs, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$569.74K	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$229.82M	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`	$68.59M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$66.11M	USD	Point-in-time
Property, Plant and Equipment, Net, Total	`PropertyPlantAndEquipmentNet`	$269.90M	USD	Point-in-time
Common stock, share authorized	`CommonStockSharesAuthorized`	13.35M	shares	Point-in-time
Common stock, share authorized	`CommonStockSharesAuthorized`	13.35M	shares	Point-in-time
Property, Plant and Equipment, Net, Total	`PropertyPlantAndEquipmentNet`	$265.23M	USD	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	9.85M	shares	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	9.76M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$1.58M	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`	9.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.85M	shares	Point-in-time
Excess stock, par value	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$272.11M	USD	Point-in-time
Excess stock, par value	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$271.48M	USD	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	6.50M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$668.68K	USD	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`	$2.00M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at both December 31, 2011 and 2010	`AccountsReceivableNet`	$1.33M	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
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at both December 31, 2011 and 2010	`AccountsReceivableNet`	$801.68K	USD	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
Series A junior participating preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Financing costs, net of accumulated amortization of $5,707,043 and $5,392,802 at December 31, 2011 and 2010 respectively	`DeferredFinanceCostsNet`	$1.13M	USD	Point-in-time
Financing costs, net of accumulated amortization of $5,707,043 and $5,392,802 at December 31, 2011 and 2010 respectively	`DeferredFinanceCostsNet`	$1.80M	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 $1,205,985 and $934,399 at December 31, 2011 and 2010 respectively	`DeferredCostsLeasingNet`	$737.97K	USD	Point-in-time
Leasing costs, net of accumulated amortization of $1,205,985 and $934,399 at December 31, 2011 and 2010 respectively	`DeferredCostsLeasingNet`	$812.29K	USD	Point-in-time
Lease intangibles costs, net of accumulated amortization of $569,737 and $50,479 at December 31, 2011 and 2010 respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$16.15M	USD	Point-in-time
Lease intangibles costs, net of accumulated amortization of $569,737 and $50,479 at December 31, 2011 and 2010 respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$8.15M	USD	Point-in-time
Series A junior participating preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Series A junior participating preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Series A junior participating preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$962.97K	USD	Point-in-time
Series A junior participating preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$911.80K	USD	Point-in-time
Total Assets	`Assets`	$293.94M	USD	Point-in-time
Total Assets	`Assets`	$285.04M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$62.85M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$71.53M	USD	Point-in-time
Notes Payable	`NotesPayable`	$28.38M	USD	Point-in-time
Notes Payable	`NotesPayable`	$56.44M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$5.15M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.07M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$2.39M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$9.35M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$734.20K	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`	$424.32K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.43M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$3.38M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$793.21K	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$629.46K	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`	$84.28K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$80.40K	USD	Point-in-time
Total Liabilities	`Liabilities`	$131.72M	USD	Point-in-time
Total Liabilities	`Liabilities`	$117.91M	USD	Point-in-time
Common stock, $.0001 par value, 13,350,000 share authorized 9,851,914 and 9,759,014 shares issued and outstanding	`CommonStockValue`	$985.00	USD	Point-in-time
Common stock, $.0001 par value, 13,350,000 share authorized 9,851,914 and 9,759,014 shares issued and outstanding	`CommonStockValue`	$976.00	USD	Point-in-time
Excess stock, $.0001 par value, 6,500,000 shares authorized, 0 shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Excess stock, $.0001 par value, 6,500,000 shares authorized, 0 shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Series A junior participating preferred stock, $.0001 par value, 150,000 shares authorized, 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Series A junior participating preferred stock, $.0001 par value, 150,000 shares authorized, 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$181.07M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$179.71M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.92M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-14.70M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-606.57K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-764.74K	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$164.24M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$159.55M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.89M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.68M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.22M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$167.13M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$293.94M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$285.04M	USD	Point-in-time

Income Statement 89 line items

Line Item	Tag	Value	Unit	Period
Other Comprehensive Income (Loss), Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$-3.95K	USD	Annual
Other Comprehensive Income (Loss), Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$-24.53K	USD	Annual
Other Comprehensive Income (Loss), Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$5.58K	USD	Annual
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$28.87M	USD	Annual
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$32.67M	USD	Annual
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$30.36M	USD	Annual
Percentage rents	`PercentageRent`	$34.52K	USD	Annual
Percentage rents	`PercentageRent`	$15.37K	USD	Annual
Percentage rents	`PercentageRent`	$34.40K	USD	Annual
Operating cost reimbursement	`TenantReimbursements`	$2.57M	USD	Annual
Operating cost reimbursement	`TenantReimbursements`	$2.65M	USD	Annual
Operating cost reimbursement	`TenantReimbursements`	$2.60M	USD	Annual
Development fee income	`ConstructionRevenue`	$409.64K	USD	Annual
Development fee income	`ConstructionRevenue`	$894.69K	USD	Annual
Development fee income	`ConstructionRevenue`	$589.54K	USD	Annual
Other income	`OtherIncome`	$97.58K	USD	Annual
Other income	`OtherIncome`	$150.44K	USD	Annual
Other income	`OtherIncome`	$30.46K	USD	Annual
Total Revenues	`Revenues`	$33.68M	USD	Annual
Total Revenues	`Revenues`	$31.97M	USD	Annual
Total Revenues	`Revenues`	$36.32M	USD	Annual
Real estate taxes	`RealEstateTaxExpense`	$2.66M	USD	Annual
Real estate taxes	`RealEstateTaxExpense`	$1.91M	USD	Annual
Real estate taxes	`RealEstateTaxExpense`	$1.94M	USD	Annual
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$1.46M	USD	Annual
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$1.57M	USD	Annual
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$1.53M	USD	Annual
Land lease payments	`LeaseAndRentalExpense`	$476.53K	USD	Annual
Land lease payments	`LeaseAndRentalExpense`	$387.30K	USD	Annual
Land lease payments	`LeaseAndRentalExpense`	$721.30K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.00M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.56M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.66M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$5.28M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$4.95M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$6.50M	USD	Annual
Impairment charge	`AssetImpairmentCharges`	$3.65M	USD	Annual
Impairment charge	`AssetImpairmentCharges`	$7.70M	USD	Annual
Total Operating Expenses	`CostsAndExpenses`	$20.72M	USD	Annual
Total Operating Expenses	`CostsAndExpenses`	$21.83M	USD	Annual
Total Operating Expenses	`CostsAndExpenses`	$13.40M	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$18.57M	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$11.85M	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$15.60M	USD	Annual
Interest expense, net	`InterestExpense`	$4.10M	USD	Annual
Interest expense, net	`InterestExpense`	$4.73M	USD	Annual
Interest expense, net	`InterestExpense`	$4.01M	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	Annual
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$13.23M	USD	Annual
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$14.56M	USD	Annual
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$7.75M	USD	Annual
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$4.74M	USD	Annual
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$110.21K	USD	Annual
Income (Loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$-3.45M	USD	Annual
Income (Loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$3.43M	USD	Annual
Income (Loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$3.14M	USD	Annual
Net Income	`ProfitLoss`	$9.89M	USD	Annual
Net Income	`ProfitLoss`	$15.63M	USD	Annual
Net Income	`ProfitLoss`	$17.99M	USD	Annual
Less Net Income Attributable to Non- Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$561.04K	USD	Annual
Less Net Income Attributable to Non- Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$950.05K	USD	Annual
Less Net Income Attributable to Non- Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$338.39K	USD	Annual
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$9.55M	USD	Annual
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$17.04M	USD	Annual
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$15.07M	USD	Annual
Other Comprehensive Income (Loss), Net of ($5,584, ($24,529) and ($3,947)) Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$158.17K	USD	Annual
Other Comprehensive Income (Loss), Net of ($5,584, ($24,529) and ($3,947)) Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$-693.93K	USD	Annual
Other Comprehensive Income (Loss), Net of ($5,584, ($24,529) and ($3,947)) Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$-70.81K	USD	Annual
Total Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$16.97M	USD	Annual
Total Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$9.71M	USD	Annual
Total Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$14.37M	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.82	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$1.74	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$1.32	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.83	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.41	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.33	USD	Annual
Earnings Per Share, Basic, Total	`EarningsPerShareBasic`	$0.99	USD	Annual
Earnings Per Share, Basic, Total	`EarningsPerShareBasic`	$1.65	USD	Annual
Earnings Per Share, Basic, Total	`EarningsPerShareBasic`	$2.15	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$1.32	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$1.73	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.81	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.41	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.33	USD	Annual
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.83	USD	Annual
Earnings Per Share, Diluted, Total	`EarningsPerShareDiluted`	$1.64	USD	Annual
Earnings Per Share, Diluted, Total	`EarningsPerShareDiluted`	$0.99	USD	Annual
Earnings Per Share, Diluted, Total	`EarningsPerShareDiluted`	$2.14	USD	Annual

Cash Flow Statement 101 line items

Line Item	Tag	Value	Unit	Period
Acquisition of real estate investments, capitalized interest	`InterestCapitalizedForRealEstateUnderDevelopment`	$220.78K	USD	Annual
Acquisition of real estate investments, capitalized interest	`InterestCapitalizedForRealEstateUnderDevelopment`	$319.24K	USD	Annual
Net income	`ProfitLoss`	$9.89M	USD	Annual
Net income	`ProfitLoss`	$15.63M	USD	Annual
Net income	`ProfitLoss`	$17.99M	USD	Annual
Depreciation	`Depreciation`	$5.81M	USD	Annual
Depreciation	`Depreciation`	$5.64M	USD	Annual
Depreciation	`Depreciation`	$6.06M	USD	Annual
Amortization	`AdjustmentForAmortization`	$409.92K	USD	Annual
Amortization	`AdjustmentForAmortization`	$354.21K	USD	Annual
Amortization	`AdjustmentForAmortization`	$1.11M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.17M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.36M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.18M	USD	Annual
Impairment charge	`AdjustmentAssetImpairmentCharges`	$13.50M	USD	Annual
Impairment charge	`AdjustmentAssetImpairmentCharges`	$8.14M	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	Annual
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$4.74M	USD	Annual
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$110.21K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.02M	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-528.45K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-656.71K	USD	Annual
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$114.47K	USD	Annual
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-69.17K	USD	Annual
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-8.07K	USD	Annual
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-101.37K	USD	Annual
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$267.27K	USD	Annual
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.95M	USD	Annual
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-689.55K	USD	Annual
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-689.55K	USD	Annual
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-6.95M	USD	Annual
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-39.86K	USD	Annual
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-239.78K	USD	Annual
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$513.04K	USD	Annual
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$3.87K	USD	Annual
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$27.21K	USD	Annual
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-16.88K	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$25.50M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$23.58M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$26.11M	USD	Annual
Acquisition of real estate investments (including capitalized interest of $319,235 in 2010 and $220,782 in 2009)	`PaymentsToAcquireProductiveAssets`	$28.60M	USD	Annual
Acquisition of real estate investments (including capitalized interest of $319,235 in 2010 and $220,782 in 2009)	`PaymentsToAcquireProductiveAssets`	$8.75M	USD	Annual
Acquisition of real estate investments (including capitalized interest of $319,235 in 2010 and $220,782 in 2009)	`PaymentsToAcquireProductiveAssets`	$38.82M	USD	Annual
Payment of lease intangibles costs	`IncreaseDecreaseInLeaseAcquisitionCosts`	$8.20M	USD	Annual
Payment of lease intangibles costs	`IncreaseDecreaseInLeaseAcquisitionCosts`	$8.52M	USD	Annual
Payment of leasing costs	`PaymentsToAcquireIntangibleAssets`	$368.17K	USD	Annual
Payment of leasing costs	`PaymentsToAcquireIntangibleAssets`	$197.26K	USD	Annual
Payment of leasing costs	`PaymentsToAcquireIntangibleAssets`	$118.30K	USD	Annual
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$8.06M	USD	Annual
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$14.20M	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.19M	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-29.25M	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.87M	USD	Annual
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$31.07M	USD	Annual
Mortgage proceeds	`ProceedsFromIssuanceOfSecuredDebt`	$11.36M	USD	Annual
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$26.50M	USD	Annual
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$46.90M	USD	Annual
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$119.24M	USD	Annual
Line of credit payments	`RepaymentsOfLinesOfCredit`	$30.44M	USD	Annual
Line of credit payments	`RepaymentsOfLinesOfCredit`	$47.52M	USD	Annual
Line of credit payments	`RepaymentsOfLinesOfCredit`	$91.18M	USD	Annual
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$17.13M	USD	Annual
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$17.40M	USD	Annual
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$19.05M	USD	Annual
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$4.23M	USD	Annual
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$4.03M	USD	Annual
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$3.43M	USD	Annual
Payments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$850.23K	USD	Annual
Payments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$286.08K	USD	Annual
Payments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$352.43K	USD	Annual
Payments for financing costs	`PaymentsOfFinancingCosts`	$985.30K	USD	Annual
Payments for financing costs	`PaymentsOfFinancingCosts`	$39.15K	USD	Annual
Payments for financing costs	`PaymentsOfFinancingCosts`	$697.00K	USD	Annual
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$5.16M	USD	Annual
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$6.98M	USD	Annual
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.69M	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.41M	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$20.00K	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-95.39K	USD	Annual
Cash and Cash Equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$668.68K	USD	Point-in-time
Cash and Cash Equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$688.67K	USD	Point-in-time
Cash and Cash Equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$668.68K	USD	Point-in-time
Cash and Cash Equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$688.67K	USD	Point-in-time
Cash and Cash Equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$4.49M	USD	Annual
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$4.59M	USD	Annual
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$4.46M	USD	Annual
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableAmount`	$5.15M	USD	Point-in-time
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableAmount`	$4.07M	USD	Point-in-time
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableAmount`	$4.35M	USD	Point-in-time
Conversion of OP Units	`ExchangeOfCommonUnitsOfTheOperatingPartnershipIntoSharesOfTheCompanysCommonStock`	$2.40M	USD	Annual
Shares issued under Stock Incentive Plan	`StockIssued1`	$1.16M	USD	Annual
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.07M	USD	Annual
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.31M	USD	Annual
Real estate acquisitions financed with debt assumption	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$3.40M	USD	Annual
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$424.32K	USD	Annual
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$352.43K	USD	Annual
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$286.08K	USD	Annual

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.22M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$167.13M	USD	Point-in-time
Net income	`NetIncomeLoss`	$9.55M	USD	Annual
Net income	`NetIncomeLoss`	$17.04M	USD	Annual
Net income	`NetIncomeLoss`	$15.07M	USD	Annual
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.22M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$167.13M	USD	Point-in-time

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