Real Estate Acquisitions (Tables)

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Schedule of purchase price allocation

The following table summarizes the purchase price allocation:

		June 30, 2012
Land	$	1,552,389
Building and improvements		6,001,392
Acquired in-place leases		1,042,302
Total purchase price	$	8,596,083

The following table summarizes the purchase price allocation:

		June 30, 2011
Land	$	3,956,317
Building and improvements		27,072,394
Acquired in-place leases		3,433,205
Acquired below-market leases		(1,611,916	)
Total purchase price	$	32,850,000

Business acquisition, pro forma information

The table below presents the Company's estimated revenue and net (loss) income, on a pro forma basis, for the three and six months endedJune 30, 2012 and 2011:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012		2011
Pro forma basis (unaudited):
Revenue	$	1,163,890		$	241,394		$	2,327,778	$	482,786
Net (loss) income	$	(953	)	$	(528,857	)	$	53,163	$	(790,569	)