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Intangible Assets, Liabilities, and Deferred Leasing Costs (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Intangible Assets and Goodwill | The following table summarizes the Company's intangible assets, liabilities, and deferred leasing costs as of December 31, 2023 and 2022:
| As of December 31,
| 2023 |  | 2022
Intangible assets: |  |  |
In-place leases | $ | 183,139 |  |  | $ | 158,155 |
Above-market leases | 17,967 |  |  | 16,082 |
Intangible assets | 201,106 |  |  | 174,237 |
Accumulated amortization: |  |  |
In-place leases | (78,177) |  |  | (66,347) |
Above-market leases | (8,444) |  |  | (6,723) |
Accumulated amortization | (86,621) |  |  | (73,070) |
Intangible assets, net | $ | 114,485 |  |  | $ | 101,167 |
Intangible liabilities: |  |  |
Below-market leases | $ | 52,412 |  |  | $ | 55,501 |
Accumulated amortization | (22,068) |  |  | (25,843) |
Intangible liabilities, net | $ | 30,344 |  |  | $ | 29,658 |
Deferred leasing costs: |  |  |
Leasing costs | $ | 22,621 |  |  | $ | 20,949 |
Accumulated amortization | (7,626) |  |  | (7,114) |
Deferred leasing costs, net | $ | 14,995 |  |  | $ | 13,835 |
Summary of Identified Intangible Assets and Liabilities | The following table summarizes the amortization related to intangible assets, liabilities, and deferred leasing costs for the years ended December 31, 2023, 2022 and 2021:
| Year ended December 31,
| 2023 |  | 2022 |  | 2021
Intangible assets: |  |  |  |  |
In-place leases | $ | 32,179 |  |  | $ | 20,993 |  |  | $ | 18,730 |
Above-market leases | 2,977 |  |  | 2,018 |  |  | 2,036 |
Amortization of intangible assets | $ | 35,156 |  |  | $ | 23,011 |  |  | $ | 20,766 |
Intangible liabilities: |  |  |  |  |
Amortization of below-market leases | $ | 5,976 |  |  | $ | 7,403 |  |  | $ | 6,317 |
Deferred leasing costs: |  |  |  |  |
Amortization of deferred leasing costs | $ | 2,691 |  |  | $ | 2,533 |  |  | $ | 2,138 |
Summary of Finite-Lived Intangible Assets, Future Amortization Expense | The following table summarizes the amortization during the next five years and thereafter related to intangible assets, liabilities, and deferred leasing costs as of December 31, 2023:
Year ending December 31, |  | In-place leases |  | Above market leases |  | Below market leases |  | Deferred leasing costs
2024 |  | $ | 24,961 |  |  | $ | 2,368 |  |  | $ | 4,312 |  |  | $ | 3,507 |
2025 |  | 19,611 |  |  | 1,863 |  |  | 3,762 |  |  | 2,290 |
2026 |  | 15,047 |  |  | 1,461 |  |  | 3,237 |  |  | 2,123 |
2027 |  | 10,513 |  |  | 1,002 |  |  | 2,315 |  |  | 1,842 |
2028 |  | 7,764 |  |  | 753 |  |  | 1,840 |  |  | 1,515 |
Thereafter |  | 27,066 |  |  | 2,076 |  |  | 14,878 |  |  | 3,718 |
Total |  | $ | 104,962 |  |  | $ | 9,523 |  |  | $ | 30,344 |  |  | $ | 14,995 |

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