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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
OPERATING ACTIVITIES    
Net income $ 37,610 $ 22,740
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 17,055 13,998
Amortization of leasing costs and in-place lease intangibles 8,581 2,993
Accrued straight-line rental revenue (765) (1,724)
Amortization of leasing incentives and above or below-market rents (61) 564
Accrued straight-line ground rent expense 291 224
Bad debt expense 178 123
Noncash stock compensation 864 755
Impairment charges 184 23
Noncash interest expense 687 791
Noncash loss on extinguishment of debt 82 410
Gain on real estate dispositions (30,440) (13,407)
Change in the fair value of derivatives 2,264 238
Changes in operating assets and liabilities:    
Property assets (4,938) (2,524)
Property liabilities 3,856 2,369
Construction assets (5,863) (29,027)
Construction liabilities 9,197 19,078
Net cash provided by operating activities 38,782 17,624
INVESTING ACTIVITIES    
Development of real estate investments (48,671) (40,293)
Tenant and building improvements (4,399) (3,794)
Acquisitions of real estate investments, net of cash received (177,865) (64,945)
Dispositions of real estate investments 96,312 50,613
Government development grants 0 300
Notes receivable issuances (42,110) 0
(Decrease) increase in restricted cash (210) 742
Leasing costs (1,601) (1,715)
Leasing incentives (188) (1,563)
Contributions to equity method investments (8,949) 0
Net cash used for investing activities (187,681) (60,655)
FINANCING ACTIVITIES    
Proceeds from sales of common stock 51,088 7,687
Offering costs (1,183) (321)
Debt issuances, credit facility and construction loan borrowings 290,105 200,267
Debt and credit facility repayments, including principal amortization (167,659) (153,321)
Debt issuance costs (1,791) (1,844)
Redemption of operating partnership units (58) (79)
Dividends and distributions (24,702) (20,050)
Net cash provided by financing activities 145,800 32,339
Net decrease in cash and cash equivalents (3,099) (10,692)
Cash and cash equivalents, beginning of period 26,989 25,883
Cash and cash equivalents, end of period $ 23,890 $ 15,191