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

12 Months Ended

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