Intangible Assets, Liabilities, and Deferred Leasing Costs (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The following table summarizes the Company’s identified intangible assets, liabilities, and deferred leasing costs as of December 31, 2018 and 2017.



	As of December 31,
	2018			2017
Intangible assets:
Acquired in-place leases	$	156,004		$	226,515
Acquired above-market leases	22,353			29,670
Intangible assets	178,357			256,185
Accumulated amortization:
Accumulated amortization, acquired in-place leases	(58,203		)	(123,043		)
Accumulated amortization, above-market leases	(12,149		)	(17,731		)
Accumulated amortization	(70,352		)	(140,774		)
Intangible assets, net	$	108,005		$	115,411

Intangible liabilities:
Acquired below-market leases	$	74,312		$	80,862
Accumulated amortization, acquired below-market leases	(27,327		)	(27,330		)
Intangible liabilities, net	$	46,985		$	53,532

Deferred leasing costs:
Leasing costs	$	18,236		$	17,355
Accumulated amortization	(8,018		)	(8,642		)
Deferred leasing costs, net	$	10,218		$	8,713

Schedule of Identified Intangible Assets and Liabilities

The following table provides a summary of the amortization related to intangible assets, liabilities, and deferred leasing costs for the years ended December 31, 2018, 2017 and 2016:



	Year ended December 31,
	2018		2017		2016
Intangible assets:
In-place lease intangibles (a)	$	22,523	$	22,580	$	18,298
Above-market leases (b)	3,036		3,053		2,581
Amortization of intangible assets	$	25,559	$	25,633	$	20,879
Intangible liabilities:
Amortization of below-market leases (c)	$	8,570	$	8,563	$	6,676
Deferred leasing costs:
Amortization of deferred leasing costs (a)	$	2,036	$	1,806	$	1,703


(a)	Amounts are recorded as depreciation and amortization.


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


(c)	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, 2018:



Year ending December 31,	In-place leases		Above market leases		Deferred leasing costs		Below market leases
2019	$	19,243	$	2,220	$	2,475	$	7,349
2020	16,114		1,870		1,724		6,596
2021	12,794		1,512		1,581		5,578
2022	9,742		982		1,369		4,478
2023	8,000		777		966		3,438
Thereafter	31,908		2,843		2,103		19,546
Total	$	97,801	$	10,204	$	10,218	$	46,985