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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES    
Net income $ 18,403 $ 4,779
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 8,950 6,796
Amortization of leasing costs and in-place lease intangibles 1,724 1,230
Accrued straight-line rental revenue (1,349) (850)
Amortization of leasing incentives and above or below-market rents 394 317
Accrued straight-line ground rent expense 158 159
Bad debt expense 72 11
Noncash stock compensation 582 522
Impairment charges 23  
Noncash interest expense 558 293
Loss on extinguishment of debt 407  
Gain on real estate dispositions (13,407)  
Change in the fair value of derivatives 187 169
Changes in operating assets and liabilities, net of acquisitions:    
Property assets (2,067) (1,792)
Property liabilities 810 (1,056)
Construction assets (20,040) (206)
Construction liabilities 9,900 (1,375)
Net cash provided by operating activities 5,305 8,997
INVESTING ACTIVITIES    
Development of real estate investments (31,050) (47,709)
Tenant and building improvements (2,471) (3,680)
Acquisitions of real estate investments, net of cash acquired (35,372) (2,895)
Dispositions of real estate investments 50,613  
Decrease (increase) in restricted cash 1,179 (777)
Leasing costs (1,508) (874)
Leasing incentives (1,563) (63)
Net cash used for investing activities (20,172) (55,998)
FINANCING ACTIVITIES    
Proceeds from sales of common stock 3,596  
Offering costs (203) (243)
Debt issuances, credit facility and construction loan borrowings 173,994 56,687
Debt and credit facility payments, including principal amortization (146,378) (1,578)
Debt issuance costs (1,446) (35)
Redemption of operating partnership units (79)  
Dividends and distributions (13,144) (10,441)
Net cash provided by financing activities 16,340 44,390
Net increase (decrease) in cash and cash equivalents 1,473 (2,611)
Cash and cash equivalents, beginning of period 25,883 18,882
Cash and cash equivalents, end of period $ 27,356 $ 16,271