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Note 2 - Real Estate
 12 Months Ended
Dec. 31, 2017
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
7
    
201
6
  
Land
   $
2,971,020
     $
2,786,255
  
Undeveloped land
    
48,264
      
58,931
  
Buildings and improvements:
                
Buildings
    
6,047,413
      
5,790,681
  
Building improvements
    
1,653,581
      
1,562,439
  
Tenant improvements
    
753,501
      
733,993
  
Fixtures and leasehold improvements
    
45,795
      
47,199
  
Above
-market leases
    
153,484
      
150,207
  
In-
place leases and tenant relationships
    
577,870
      
543,342
  
     
12,250,928
      
11,673,047
  
Accumulated depreciation and amortization
(1)
    
(2,433,053
 )    
(2,278,292
 )
Total
   $
9,817,875
     $
9,394,755
  
 
 
 
(
1
)
At
December 31,
2017
and
2016,
the Company had accumulated amortization relating to in-place leases, tenant relationships and above-market leases aggregating
$459,211
and
$409,062,
respectively.
 
In addition, at
December 31,
2017
and
2016,
the Company had intangible liabilities relating to below-market leases from property acquisitions of
$329.3
million and
$292.6
million, respectively, net of accumulated amortization of
$184.5
million and
$193.9
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, 2017,
2016
and
2015,
resulted in net increases to revenue of
$15.5
million,
$21.4
million and
$18.5
million, respectively. The Company’s amortization expense associated with in-place leases and tenant relationships, which is included in depreciation and amortization, for the years ended
December 31, 2017,
2016
and
2015
was
$62.7
million,
$66.6
million and
$68.3
million, respectively.
 
The estimated net amortization
income/(expense) associated with the Company’s above-market and below-market leases, tenant relationships and in-place leases for the next
five
years are as follows (in millions):
 
   
2018
    
2019
    
2020
    
202
1
    
202
2
  
Above
-market and below-market leases amortization, net
   $
13.2
     $
14.0
     $
14.1
     $
14.3
     $
13.4
  
In-place leases and t
enant relationships amortization
  $
(43.7
 )   $
(34.6
 )   $
(26.5
 )   $
(20.7
 )   $
(15.9
 )