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Note 2 - Real Estate | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Real Estate Disclosure [Text Block] | 2. Real Estate: The Company’s components of Rental property consist of the following (in thousands):
|  | December 31, |
|  | 201 6 |  |  | 201 5 |
Land |  | $ | 2,786,255 |  |  | $ | 2,660,722 |
Undeveloped land |  |  | 58,931 |  |  |  | 67,535 |
Buildings and improvements: |  |  |  |  |  |  |  |
Buildings |  |  | 5,790,681 |  |  |  | 5,643,629 |
Building improvements |  |  | 1,562,439 |  |  |  | 1,559,652 |
Tenant improvements |  |  | 733,993 |  |  |  | 727,036 |
Fixtures and leasehold improvements |  |  | 47,199 |  |  |  | 47,055 |
Above-market leases |  |  | 150,207 |  |  |  | 155,451 |
In-place leases and tenant relationships |  |  | 543,342 |  |  |  | 528,539 |
|  |  | 11,673,047 |  |  |  | 11,389,619 |
Accumulated depreciation and amortization (1) |  |  | (2,278,292 | ) |  |  | (2,115,320 | )
Total |  | $ | 9,394,755 |  |  | $ | 9,274,299 |
| (1) | At December 31, 2016 and 2015, the Company had accumulated amortization relating to in-place leases, tenant relationships and above-market leases aggregating $409,062 and $357,581, respectively.
In addition, at December 31, 2016 and 2015, the Company had intangible liabilities relating to below-market leases from property acquisitions of $292.6 million and $291.7 million, respectively, net of accumulated amortization of $193.9 million and $193.7 million, respectively. These amounts are included in the caption Other liabilities on the Company’s Consolidated Balance Sheets. The Company’s amortization associated with above-market and below-market leases for the years ended December 31, 2016, 2015 and 2014, resulted in net increases to revenue of $21.4 million, $18.5 million and $13.5 million, respectively. The Company’s amortization expense associated with leases in place and tenant relationships, which is included in depreciation and amortization, for the years ended December 31, 2016, 2015 and 2014 was $66.6 million, $68.3 million and $41.2 million, respectively. The estimated net amortization income/(expense) associated with the Company’s above-market and below-market leases, tenant relationships and leases in place for the next five years are as follows (in millions):
|  | 2017 |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 202 1 |
Above-market and below-market leases amortization, net |  | $ | 10.7 |  |  | $ | 10.8 |  |  | $ | 11.3 |  |  | $ | 11.5 |  |  | $ | 11.5 |
In-place leases and tenant relationships amortization |  | $ | (46.5 | ) |  | $ | (34.1 | ) |  | $ | (26.3 | ) |  | $ | (19.3 | ) |  | $ | (15.4 | )

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