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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES      
Net income $ 157,638,000 $ 108,391,000 $ 123,340,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 127,099,000 116,359,000 104,724,000
Stock-based compensation expense 7,511,000 6,579,000 6,838,000
Gain on sales of real estate investments (38,859,000) (13,145,000) (41,068,000)
Gain on casualties and involuntary conversion on real estate assets 0 (161,000) (180,000)
Changes in operating assets and liabilities:      
Accrued income and other assets (11,572,000) (4,615,000) (5,558,000)
Accounts payable, accrued expenses and prepaid rent 13,298,000 (18,851,000) 6,514,000
Other                                                                                                     1,377,000 1,728,000 1,302,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 256,492,000 196,285,000 195,912,000
INVESTING ACTIVITIES      
Development and value-add properties (418,855,000) (195,446,000) (318,288,000)
Purchases of real estate (108,149,000) (49,199,000) (142,712,000)
Real estate improvements (36,665,000) (33,131,000) (37,775,000)
Net proceeds from sales of real estate investments and non-operating real estate 44,260,000 21,565,000 66,737,000
Leasing commissions (33,301,000) (17,516,000) (19,194,000)
Proceeds from casualties and involuntary conversion on real estate assets 0 242,000 723,000
Repayments on mortgage loans receivable 0 1,679,000 915,000
Changes in accrued development costs 21,678,000 (5,339,000) (3,644,000)
Changes in other assets and other liabilities 1,769,000 (11,111,000) 9,901,000
NET CASH USED IN INVESTING ACTIVITIES (529,263,000) (288,256,000) (443,337,000)
FINANCING ACTIVITIES      
Proceeds from unsecured bank credit facilities 625,520,000 625,387,000 932,658,000
Repayments on unsecured bank credit facilities (541,310,000) (613,097,000) (1,015,678,000)
Proceeds from unsecured debt 175,000,000 275,000,000 290,000,000
Repayments on unsecured debt (40,000,000) (105,000,000) (75,000,000)
Repayments on secured debt (76,920,000) (54,306,000) (55,593,000)
Debt issuance costs (2,678,000) (1,090,000) (893,000)
Distributions paid to stockholders (not including dividends accrued) (131,759,000) (119,765,000) (108,795,000)
Proceeds from common stock offerings 273,097,000 90,721,000 284,710,000
Proceeds from dividend reinvestment plan 0 0 212,000
Other                                                                                                     (3,807,000) (6,082,000) (4,346,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 277,143,000 91,768,000 247,275,000
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 4,372,000 (203,000) (150,000)
    CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 21,000 224,000 374,000
    CASH AND CASH EQUIVALENTS AT END OF YEAR 4,393,000 21,000 224,000
SUPPLEMENTAL CASH FLOW INFORMATION      
Cash paid for interest, net of amount capitalized of $9,028, $9,651, and $8,453 for 2021, 2020, and 2019, respectively 31,658,000 32,362,000 30,839,000
Cash paid for interest, net of amount capitalized 9,028,000 9,651,000 8,453,000
Cash paid for operating lease liabilities 1,707,000 1,476,000 1,314,000
NON-CASH OPERATING ACTIVITY      
Operating lease liabilities arising from obtaining right of use assets $ 13,056,000 $ 495,000 $ 15,435,000