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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net income $ 12,928 $ 13,696
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 13,540 12,930
Amortization of leasing costs and in-place lease intangibles 4,917 5,849
Accrued straight-line rental revenue (1,029) (640)
Amortization of leasing incentives and above or below-market rents (141) (90)
Accrued straight-line ground rent expense 136 273
Bad debt expense 112 166
Noncash stock compensation 820 832
Impairment charges 98 31
Noncash interest expense 557 560
Gain on real estate dispositions 0 (3,395)
Change in the fair value of interest rate derivatives (958) (213)
Changes in operating assets and liabilities:    
Property assets (2,505) (1,009)
Property liabilities (1,973) (2,489)
Construction assets 4,443 (6,495)
Construction liabilities (15,081) 21
Interest receivable (4,604) (3,053)
Net cash provided by operating activities 11,260 16,974
INVESTING ACTIVITIES    
Development of real estate investments (57,741) (14,997)
Tenant and building improvements (5,599) (4,338)
Acquisitions of real estate investments, net of cash received (32,967) (6,767)
Dispositions of real estate investments 4,271 4,441
Notes receivable issuances (5,816) (10,783)
Leasing costs (2,060) (807)
Leasing incentives (79) (2)
Contributions to equity method investments (3,127) (715)
Net cash used for investing activities (103,118) (33,968)
FINANCING ACTIVITIES    
Proceeds from sales of common stock 49,730 96,044
Offering costs (749) (4,663)
Common shares tendered for tax withholding (343) (289)
Debt issuances, credit facility and construction loan borrowings 147,248 73,906
Debt and credit facility repayments, including principal amortization (84,277) (130,674)
Debt issuance costs (381) (471)
Redemption of operating partnership units (2,531) (229)
Dividends and distributions (24,337) (20,097)
Net cash provided by financing activities 84,360 13,527
Net decrease in cash and cash equivalents (7,498) (3,467)
Cash, cash equivalents, and restricted cash, beginning of period 22,916 25,193
Cash, cash equivalents, and restricted cash, end of period 15,418 21,726
Supplemental Disclosures (noncash transactions):    
Increase in dividends payable 1,450 1,973
Increase in accounts payable and accrued liabilities for capital expenditures 6,692 4,608
Issuance of operating partnership units for acquisitions 1,702 982
Operating Partnership units redeemed for common shares 1,804 0
Redeemable noncontrolling interest from development 0 2,000
Deferred payment for land acquisition $ 0 $ 600