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

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021:


	As of December 31,
	2022		2021
Intangible assets:
In-place leases	$	158,155	$	137,579
Above-market leases	16,082		15,082
Intangible assets	174,237		152,661
Accumulated amortization:
In-place leases	(66,347)		(63,741)
Above-market leases	(6,723)		(7,894)
Accumulated amortization	(73,070)		(71,635)
Intangible assets, net	$	101,167	$	81,026

Intangible liabilities:
Below-market leases	$	55,501	$	58,256
Accumulated amortization	(25,843)		(29,261)
Intangible liabilities, net	$	29,658	$	28,995

Deferred leasing costs:
Leasing costs	$	20,949	$	18,482
Accumulated amortization	(7,114)		(6,055)
Deferred leasing costs, net	$	13,835	$	12,427

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, 2022, 2021 and 2020:


	Year ended December 31,
	2022		2021		2020
Intangible assets:
In-place leases	$	20,993	$	18,730	$	22,994
Above-market leases	2,018		2,036		2,446
Amortization of intangible assets	$	23,011	$	20,766	$	25,440
Intangible liabilities:
Amortization of below-market leases	$	7,403	$	6,317	$	9,468
Deferred leasing costs:
Amortization of deferred leasing costs	$	2,533	$	2,138	$	1,913

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, 2022:


Year ending December 31,	In-place leases		Above market leases		Below market leases		Deferred leasing costs
2023	$	20,494	$	2,085	$	4,686	$	3,749
2024	16,582		1,603		3,817		1,970
2025	13,820		1,283		3,308		1,828
2026	11,416		1,097		2,932		1,667
2027	7,785		783		2,022		1,393
Thereafter	21,711		2,508		12,893		3,228
Total	$	91,808	$	9,359	$	29,658	$	13,835