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

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The following table summarizes the Company’s intangible assets, liabilities, and deferred leasing costs as of December 31, 2021 and 2020:


	As of December 31,
	2021		2020
Intangible assets:
In-place leases	$	137,579	$	146,484
Above-market leases	15,082		15,124
Intangible assets	152,661		161,608
Accumulated amortization:
In-place leases	(63,741)		(58,571)
Above-market leases	(7,894)		(7,315)
Accumulated amortization	(71,635)		(65,886)
Intangible assets, net	$	81,026	$	95,722

Intangible liabilities:
Below-market leases	$	58,256	$	64,963
Accumulated amortization	(29,261)		(30,091)
Intangible liabilities, net	$	28,995	$	34,872

Deferred leasing costs:
Leasing costs	$	18,482	$	15,029
Accumulated amortization	(6,055)		(4,298)
Deferred leasing costs, net	$	12,427	$	10,731

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, 2021, 2020 and 2019:


	Year ended December 31,
	2021		2020		2019
Intangible assets:
In-place leases	$	18,730	$	22,994	$	24,601
Above-market leases	2,036		2,446		2,613
Amortization of intangible assets	$	20,766	$	25,440	$	27,214
Intangible liabilities:
Amortization of below-market leases	$	6,317	$	9,468	$	8,736
Deferred leasing costs:
Amortization of deferred leasing costs	$	2,138	$	1,913	$	2,311

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 intangible assets, liabilities, and deferred leasing costs as of December 31, 2021:


Year ending December 31,	In-place leases		Above market leases		Deferred leasing costs		Below market leases
2022	$	14,998	$	1,684	$	2,846	$	4,850
2023	12,097		1,311		1,891		3,753
2024	9,879		989		1,605		3,014
2025	8,584		777		1,460		2,579
2026	7,638		640		1,300		2,356
Thereafter	20,642		1,787		3,325		12,443
Total	$	73,838	$	7,188	$	12,427	$	28,995