Subsequent Events	6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 13. Subsequent Events On July 8, 2020, the Company borrowed an additional $4.5 million under the Credit Facility. On July 15, 2020, the Company priced a public offering of 3.5 million shares of its Class A Common Stock (the "Follow-on Offering") at $13.00 per share. On July 17, 2020, the underwriters purchased an additional 521,840 shares pursuant to a 30-day option to purchase up to an additional 525,000 shares at $13.00 per share (the "Additional Shares"). The Follow-on Offering, including the Additional Shares, closed on July 20, 2020 resulting in $52.2 million in gross proceeds, and approximately $49.4 million in net proceeds after deducting approximately $2.9 million in underwriting discounts and before giving effect to $0.9 million in other estimated expenses relating to the Follow-on Offering. On July 17, 2020, the Company borrowed an additional $6.5 million under the Credit Facility. On July 24, 2020, the Company paid down approximately $42.0 million under the Credit Facility with a portion of the proceeds received from the Follow-on Offering. On July 30, 2020, the Company's Board of Directors approved, and the Company declared a second quarter common stock dividend of $0.205 per share which is payable on August 31, 2020 to stockholders of record as of August 14, 2020. On August 7, 2020, the Company borrowed an additional $3.0 million under the Credit Facility. Currently, the Company had $39.5 million drawn on its Credit Facility. As of August 11, 2020, we purchased 98 postal properties for approximately $23.4 million during the period subsequent to June 30, 2020. As of August 11, 2020, the Company had entered into definitive agreements to acquire postal properties leased to the USPS for approximately $3.7 million. Formal due diligence has been completed and the majority of these transactions are expected to close during the third quarter of 2020, subject to the satisfaction of customary closing conditions. *Current Lease Renewal and Revised USPS Lease Form* As of August 11, 2020, the leases at 55 of our properties (consisting of one lease for which the lease expired in 2018 which we acquired in July 2020, 21 properties for which leases expired in 2019, including two leases that expired as of the date of our acquisition, and 33 properties for which leases expired in 2020) had expired and the USPS is occupying such properties as a holdover tenant, representing an aggregate annualized rental income of $2.4 million. As of the date of this report, the USPS has not vacated or notified us of its intention to vacate any of these 55 properties. The Company has received all holdover rent on a month to month basis, with the USPS paying the greater of estimated market rent or the rent amount due under the expired lease. The USPS has adopted a revised form of our modified double-net lease, which transfers the responsibility for additional maintenance expenses and obligations to the landlord, including some components of plumbing and electrical systems. As of the date of this report, we have not renewed or entered into revised leases for any of our leases with the USPS that are currently in holdover. In addition, we have not entered into any definitive agreement or addendum with to respect to the leases at the properties for which the USPS occupies as a holdover tenant.

Subsequent Events

6 Months Ended

Jun. 30, 2020

Note 13. Subsequent Events

On July 8, 2020, the Company borrowed an additional $4.5 million under the Credit Facility.

On July 15, 2020, the Company priced a public offering of 3.5 million shares of its Class A Common Stock (the "Follow-on Offering") at $13.00 per share. On July 17, 2020, the underwriters purchased an additional 521,840 shares pursuant to a 30-day option to purchase up to an additional 525,000 shares at $13.00 per share (the "Additional Shares"). The Follow-on Offering, including the Additional Shares, closed on July 20, 2020 resulting in $52.2 million in gross proceeds, and approximately $49.4 million in net proceeds after deducting approximately $2.9 million in underwriting discounts and before giving effect to $0.9 million in other estimated expenses relating to the Follow-on Offering.

On July 17, 2020, the Company borrowed an additional $6.5 million under the Credit Facility.

On July 24, 2020, the Company paid down approximately $42.0 million under the Credit Facility with a portion of the proceeds received from the Follow-on Offering.

On July 30, 2020, the Company's Board of Directors approved, and the Company declared a second quarter common stock dividend of $0.205 per share which is payable on August 31, 2020 to stockholders of record as of August 14, 2020.

On August 7, 2020, the Company borrowed an additional $3.0 million under the Credit Facility. Currently, the Company had $39.5 million drawn on its Credit Facility.

As of August 11, 2020, we purchased 98 postal properties for approximately $23.4 million during the period subsequent to June 30, 2020.

As of August 11, 2020, the Company had entered into definitive agreements to acquire postal properties leased to the USPS for approximately $3.7 million. Formal due diligence has been completed and the majority of these transactions are expected to close during the third quarter of 2020, subject to the satisfaction of customary closing conditions.

Current Lease Renewal and Revised USPS Lease Form

As of August 11, 2020, the leases at 55 of our properties (consisting of one lease for which the lease expired in 2018 which we acquired in July 2020, 21 properties for which leases expired in 2019, including two leases that expired as of the date of our acquisition, and 33 properties for which leases expired in 2020) had expired and the USPS is occupying such properties as a holdover tenant, representing an aggregate annualized rental income of $2.4 million. As of the date of this report, the USPS has not vacated or notified us of its intention to vacate any of these 55 properties. The Company has received all holdover rent on a month to month basis, with the USPS paying the greater of estimated market rent or the rent amount due under the expired lease.

The USPS has adopted a revised form of our modified double-net lease, which transfers the responsibility for additional maintenance expenses and obligations to the landlord, including some components of plumbing and electrical systems. As of the date of this report, we have not renewed or entered into revised leases for any of our leases with the USPS that are currently in holdover. In addition, we have not entered into any definitive agreement or addendum with to respect to the leases at the properties for which the USPS occupies as a holdover tenant.