UNCONSOLIDATED INVESTMENT

12 Months Ended

Dec. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

UNCONSOLIDATED INVESTMENT

UNCONSOLIDATED INVESTMENT

The Company owns a 50% undivided tenant-in-common interest in Industry Distribution Center II, a 309,000 square foot warehouse distribution building in the City of Industry (Los Angeles), California.  The building was constructed in 1998 and is 100% leased through December 2018 to a single tenant who owns the other 50% interest in the property.  This investment is accounted for under the equity method of accounting and had a carrying value of $7,681,000 at December 31, 2016, and $8,004,000 at December 31, 2015.