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Deferred Leasing Costs and Acquisition-Related Intangible Assets and Liabilities, net (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Identified Deferred Leasing Costs and Acquisition-Related Intangible Assets | The following table summarizes our deferred leasing costs and acquisition-related intangible assets (acquired value of leasing costs, above-market operating leases, and in-place leases) and intangible liabilities (acquired value of below-market operating leases) as of December 31, 2024 and 2023:
| December 31, 2024 |  | December 31, 2023
| (in thousands)
Deferred Leasing Costs and Acquisition-related Intangible Assets, net (1): |  |  |
Deferred leasing costs | $ | 303,541 |  |  | $ | 297,871 |
Accumulated amortization | (136,171) |  |  | (122,680) |
Deferred leasing costs, net | 167,370 |  |  | 175,191 |
Above-market operating leases | 1,269 |  |  | 260 |
Accumulated amortization | (156) |  |  | (70) |
Above-market operating leases, net | 1,113 |  |  | 190 |
In-place leases | 78,979 |  |  | 70,247 |
Accumulated amortization | (21,525) |  |  | (15,923) |
In-place leases, net | 57,454 |  |  | 54,324 |
Total deferred leasing costs and acquisition-related intangible assets, net | $ | 225,937 |  |  | $ | 229,705 |
Acquisition-related Intangible Liabilities, net: (2) |  |  |
Below-market operating leases | $ | 38,413 |  |  | $ | 39,159 |
Accumulated amortization | (10,995) |  |  | (8,402) |
Below-market operating leases, net | 27,418 |  |  | 30,757 |
Total acquisition-related intangible liabilities, net | $ | 27,418 |  |  | $ | 30,757 |
____________________ (1)Refer to Note 3 “Acquisitions” for a discussion of the acquisition-related intangible assets assumed in connection with our operating property acquisition in 2024. (2)Included in deferred revenue and acquisition-related intangible liabilities, net in the consolidated balance sheets. Refer to Note 3 “Acquisitions” for a discussion of the acquisition-related intangible liabilities assumed in connection with our operating property acquisition in 2024.
Schedule of Amortization for the Period Related to Deferred Leasing Costs and Acquisition-Related Intangibles | The following table sets forth amortization related to deferred leasing costs and acquisition-related intangibles for the years ended December 31, 2024, 2023, and 2022.
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in thousands)
Deferred leasing costs | $ | 34,135 |  |  | $ | 31,771 |  |  | $ | 31,059 |
Above-market operating leases | 86 |  |  | 31 |  |  | 31 |
In-place leases | 7,453 |  |  | 15,878 |  |  | 31,647 |
Below-market operating leases | (3,607) |  |  | (6,679) |  |  | (10,508) |
Total | $ | 38,067 |  |  | $ | 41,001 |  |  | $ | 52,229 |
Schedule of Estimated Annual Amortization Related to Deferred Leasing Costs and Acquisition-Related Intangibles | The following table sets forth the estimated annual amortization expense related to deferred leasing costs and acquisition-related intangibles as of December 31, 2024 for future periods:
Year Ending | Deferred Leasing Costs |  | Above-Market Operating Leases (1) |  | In-Place Leases |  | Below-Market Operating Leases (2)
| (in thousands)
2025 | $ | 30,699 |  |  | $ | 251 |  |  | $ | 9,057 |  |  | $ | (3,627) |
2026 | 26,910 |  |  | 251 |  |  | 8,528 |  |  | (3,533) |
2027 | 23,610 |  |  | 251 |  |  | 6,976 |  |  | (3,144) |
2028 | 21,514 |  |  | 251 |  |  | 6,912 |  |  | (2,962) |
2029 | 18,855 |  |  | 105 |  |  | 5,884 |  |  | (2,727) |
Thereafter | 45,782 |  |  | 4 |  |  | 20,097 |  |  | (11,425) |
Total | $ | 167,370 |  |  | $ | 1,113 |  |  | $ | 57,454 |  |  | $ | (27,418) |
____________________ (1)Represents estimated annual amortization related to above-market operating leases. Amounts will be recorded as a decrease to rental income in the consolidated statements of operations. (2)Represents estimated annual amortization related to below-market operating leases. Amounts will be recorded as an increase to rental income in the consolidated statements of operations.

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