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Property and Equipment, net
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, net
6. Property and Equipment, net

Property and equipment, net consisted of the following as of December 31, 2023 and 2022 (in thousands):

As of December 31,
20232022
Leasehold improvements$53,313 $45,959 
Office furniture and fixtures3,825 3,476 
Computer hardware9,671 9,689 
Computer software820 1,353 
Equipment194 242 
Property and equipment, gross67,823 60,719 
Less: Accumulated depreciation(25,141)(18,864)
Property and equipment, net$42,682 $41,855 

Depreciation expense totaled $8.0 million, $5.8 million, and $4.9 million for the years ended December 31, 2023, 2022, and 2021, respectively. During the years ended December 31, 2023, and 2022, we disposed of or retired $1.4 million and $1.0 million worth of fully depreciated property and equipment, respectively. Disposals during the year ended December 31, 2021 were not significant.