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Subsequent Events
12 Months Ended
Dec. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

During the month ended January 31, 2017, the Company received notices of redemption for a total of 105,000 OP Units. ROIC elected to redeem the OP Units for shares of ROIC common stock on a 1-for-one basis, and accordingly, 105,000 shares of ROIC common stock were issued.

On January 25, 2017, the Company acquired the property known as PCC Natural Markets Plaza in Edmonds, Washington within the Seattle metropolitan area, for a purchase price of approximately $8.6 million. PCC Natural Markets Plaza is approximately 34,000 square feet and is anchored by PCC Natural Markets. The property was acquired with available cash from operations.

On February 22, 2017, the Company’s board of directors declared a cash dividend on its common stock of $0.1875 per share, payable on March 30, 2017 to holders of record on March 16, 2017.