Intangible Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The following table summarizes the Company’s identified intangible assets and intangible liabilities as of December 31, 2017 and 2016.



	As of December 31,
	2017			2016
Intangible assets:
Acquired in-place leases	$	226,515		$	181,145
Acquired above market leases	29,670			27,072
Intangible assets	256,185			208,217
Accumulated amortization:
Accumulated amortization, acquired in-place leases	(123,043		)	(118,526		)
Accumulated amortization, above market leases	(17,731		)	(17,433		)
Accumulated amortization	(140,774		)	(135,959		)
Intangible assets, net	115,411			72,258
Deferred leasing costs:
Leasing costs	17,355			16,325
Accumulated amortization, leasing costs	(8,642		)	(8,120		)
Deferred leasing costs, net	8,713			8,205
Deferred leasing costs and other related intangibles, net	$	124,124		$	80,463
Intangible liabilities:
Acquired below market leases	$	80,862		$	65,740
Accumulated amortization, acquired below market leases	(27,330		)	(21,801		)
Intangible liabilities, net	$	53,532		$	43,939

Schedule of Identified Intangible Assets and Liabilities

The following table provides a summary of the amortization related to acquired in-place lease intangibles and acquired above and below market lease costs for the years ended December 31, 2017, 2016 and 2015.



	Year ended December 31,
	2017		2016		2015
Amortization of:
In-place lease intangibles	$	22,580	$	18,298	$	16,546
Above market lease costs (a)	3,053		2,581		2,779
Amortization of intangible assets	25,633		20,879		19,325
Deferred leasing costs	1,806		1,703		1,789
Amortization of deferred leasing costs and intangible assets	$	27,439	$	22,582	$	21,114

Below market lease costs (b)	$	8,563	$	6,676	$	4,185
Amortization of intangible liabilities	$	8,563	$	6,676	$	4,185


(a)	Amounts are recorded as a reduction to rental income.


(b)	Amounts are recorded as an increase to rental income.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table provides a summary of the amortization during the next five years and thereafter related to deferred costs and intangible assets and liabilities as of December 31, 2017.



Year ended December 31,	In-place lease intangible assets		Above market lease intangible assets		Deferred leasing cost assets		Below market lease intangible liabilities
2018	$	20,419	$	2,822	$	2,266	$	7,956
2019	17,496		2,077		1,504		7,193
2020	14,244		1,683		1,327		6,328
2021	11,032		1,263		1,090		5,359
2022	8,294		833		797		5,666
Thereafter	31,987		3,261		1,729		21,030
Total	$	103,472	$	11,939	$	8,713	$	53,532