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Condensed Consolidated Unaudited Balance Sheets (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
Investment in real estate assets:    
Land $ 54,233 $ 54,233
Buildings and improvements, less accumulated depreciation of $22,072 and $20,255, respectively 99,122 100,933
Acquired intangible lease assets, less accumulated amortization of $12,056 and $11,094, respectively 16,286 17,244
Total investment in real estate assets, net 169,641 172,410
Cash and cash equivalents 936 1,382
Restricted cash 1,011 872
Rents and tenant receivables, less allowance for doubtful accounts of $49 2,310 2,143
Prepaid expenses and other assets 6 77
Deferred financing costs, less accumulated amortization of $1,171 and $962, respectively 2,145 2,423
Total assets 176,049 179,307
LIABILITIES AND STOCKHOLDERS' EQUITY    
Notes payable 118,225 118,550
Lines of credit with affiliate 1,935 1,935
Accounts payable and accrued expenses 671 804
Due to affiliates 48 54
Acquired below market lease intangibles, less accumulated amortization of $1,307 and $1,208, respectively 890 989
Distributions payable 415 429
Deferred rent 288 660
Total liabilities 122,472 123,421
Commitments and contingencies    
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued and outstanding 0 0
Common stock, $0.01 par value; 90,000,000 shares authorized, 10,090,951 shares issued and outstanding 101 101
Capital in excess of par value 90,424 90,424
Accumulated distributions in excess of earnings (36,948) (34,639)
Total stockholders' equity 53,577 55,886
Total liabilities and stockholders' equity $ 176,049 $ 179,307