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Intangible Assets and Below Market Lease Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Total Intangible Assets and Below Market Lease Liabilities | The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:
| September 30, 2025 |  | December 31, 2024
Assets: |  |  |
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) | $ | 390,854 |  |  | $ | 380,279 |
Less accumulated amortization | (165,547) |  |  | (170,312) |
| $ | 225,307 |  |  | $ | 209,967 |
Liabilities (in accounts payable, accrued expenses and other liabilities): |  |  |
Acquisition-related below market lease liabilities | $ | 30,532 |  |  | $ | 37,482 |
Less accumulated amortization | (16,424) |  |  | (21,296) |
| $ | 14,108 |  |  | $ | 16,186 |
Amortization of Intangible Assets and Below Market Lease Liabilities | The following table sets forth amortization of intangible assets and below market lease liabilities:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization) | $ | 9,683 |  |  | $ | 11,370 |  |  | $ | 27,757 |  |  | $ | 30,999 |
Amortization of lease incentives (in rental and other revenues) | $ | 715 |  |  | $ | 643 |  |  | $ | 2,020 |  |  | $ | 1,886 |
Amortization of acquisition-related above market lease intangible assets (in rental and other revenues) | $ | 615 |  |  | $ | 768 |  |  | $ | 1,849 |  |  | $ | 2,364 |
Amortization of acquisition-related below market lease liabilities (in rental and other revenues) | $ | (661) |  |  | $ | (1,110) |  |  | $ | (2,078) |  |  | $ | (3,384) |
Scheduled Future Amortization of Intangible Assets and Below Market Lease Liabilities | The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:
|  |  |  | Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) |  | Amortization of Lease Incentives (in Rental and Other Revenues) |  | Amortization of Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues) |  |  |  | Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
October 1 through December 31, 2025 |  |  |  | $ | 9,891 |  |  | $ | 644 |  |  | $ | 583 |  |  |  |  | $ | (647) |
2026 |  |  |  | 36,393 |  |  | 2,366 |  |  | 2,161 |  |  |  |  | (2,431) |
2027 |  |  |  | 31,985 |  |  | 2,130 |  |  | 1,680 |  |  |  |  | (2,062) |
2028 |  |  |  | 27,917 |  |  | 1,918 |  |  | 1,544 |  |  |  |  | (1,649) |
2029 |  |  |  | 25,037 |  |  | 1,622 |  |  | 1,432 |  |  |  |  | (1,377) |
Thereafter |  |  |  | 69,237 |  |  | 5,187 |  |  | 3,580 |  |  |  |  | (5,942) |
|  |  |  | $ | 200,460 |  |  | $ | 13,867 |  |  | $ | 10,980 |  |  |  |  | $ | (14,108) |
Weighted average remaining amortization periods as of September 30, 2025 (in years) |  |  |  | 7.1 |  | 7.6 |  | 6.6 |  |  |  | 7.6
Total Intangible Assets from Acquisition Activity | The following table sets forth the intangible assets acquired as a result of the acquisitions of Advance Auto Parts Tower in Raleigh in the first quarter of 2025 and the Legacy Union parking garage in Charlotte in the third quarter of 2025:
|  |  |  | Acquisition-Related Above Market Lease Intangible Assets (amortized in Rental and Other Revenues) |  | Acquisition-Related Intangible Assets (amortized in Depreciation and Amortization) |  |
Amount recorded at acquisition |  |  |  | $ | 1,656 |  |  | $ | 20,208 |  |  |
Weighted average remaining amortization periods as of September 30, 2025 (in years) |  |  |  | 8.0 |  | 8.0 |  |

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