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Lease Intangibles (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets and Liabilities Included in Other Assets Net and Accounts Payable and Other Liabilities | Intangible assets and liabilities are included in Other assets, net and Accounts payable and other liabilities (Note 5) on the Consolidated Balance Sheets and summarized as follows (in thousands):
|  | December 31, 2024 |  |  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortizable Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In-place lease intangible assets |  | $ | 336,660 |  |  | $ | (255,899 | ) |  | $ | 80,761 |  |  | $ | 327,484 |  |  | $ | (234,808 | ) |  | $ | 92,676 |
Above-market rent |  |  | 26,432 |  |  |  | (20,340 | ) |  |  | 6,092 |  |  |  | 27,294 |  |  |  | (19,376 | ) |  |  | 7,918 |
|  | $ | 363,092 |  |  | $ | (276,239 | ) |  | $ | 86,853 |  |  | $ | 354,778 |  |  | $ | (254,184 | ) |  | $ | 100,594 |
Amortizable Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market rent |  | $ | (196,239 | ) |  | $ | 118,933 |  |  | $ | (77,306 | ) |  | $ | (188,098 | ) |  | $ | 114,393 |  |  | $ | (73,705 | )
Above-market ground lease |  |  | (671 | ) |  |  | 443 |  |  |  | (228 | ) |  |  | (671 | ) |  |  | 382 |  |  |  | (289 | )
|  | $ | (196,910 | ) |  | $ | 119,376 |  |  | $ | (77,534 | ) |  | $ | (188,769 | ) |  | $ | 114,775 |  |  | $ | (73,994 | )
Scheduled Amortization of Acquired Lease Intangible Assets and Assumed Liabilities | The scheduled amortization of acquired lease intangible assets and assumed liabilities as of December 31, 2024 is as follows (in thousands):
Years Ending December 31, |  | Net Increase in Rental Revenues |  |  | Increase to Amortization Expense |  |  | Reduction of Property Operating Expense |
2025 |  | $ | 6,620 |  |  | $ | (22,110 | ) |  | $ | 58 |
2026 |  |  | 6,094 |  |  |  | (17,602 | ) |  |  | 58 |
2027 |  |  | 5,493 |  |  |  | (12,569 | ) |  |  | 58 |
2028 |  |  | 5,567 |  |  |  | (7,841 | ) |  |  | 54 |
2029 |  |  | 5,435 |  |  |  | (4,719 | ) |  |  | — |
Thereafter |  |  | 42,005 |  |  |  | (15,920 | ) |  |  | — |
Total |  | $ | 71,214 |  |  | $ | (80,761 | ) |  | $ | 228 |

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