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Concentration Of Credit Risk
12 Months Ended
Dec. 31, 2014
Concentration Of Credit Risk [Abstract]  
Concentration Of Credit Risk

Note 3. Concentration of Credit Risk 

 

Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash and cash equivalents. The Company may maintain deposits in federally insured financial institutions in excess of federally insured limits. However, the Company’s management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.

 

As of December 31, 2014, the Company owned 41 buildings and approximately 2.6 million square feet (unaudited) located in Northern New Jersey/New York City, which accounted for approximately 27.9% of its annualized base rent, which is based on contractual base rent from leases in effect as of December 31, 2014, excluding any partial or full rent abatements. 

 

Other real estate companies compete with the Company in its real estate markets. This results in competition for tenants to occupy space. The existence of competing properties could have a material impact on the Company’s ability to lease space and on the level of rent that can be achieved. The Company had no tenants that accounted for greater than approximately 10% of the rental revenues for the year ended December 31, 2014