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

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The following table summarizes the Company's intangible assets, intangible liabilities, and deferred leasing costs:


	As of December 31
	2024		2023
Intangible assets:
In-place leases	$	216,175	$	183,139
Above-market leases	16,053		17,967
Intangible assets	232,228		201,106
Accumulated amortization:
In-place leases	(87,104)		(78,177)
Above-market leases	(7,704)		(8,444)
Accumulated amortization	(94,808)		(86,621)
Intangible assets, net	$	137,420	$	114,485

Intangible liabilities:
Below-market leases	$	65,776	$	52,412
Accumulated amortization	(22,879)		(22,068)
Intangible liabilities, net	$	42,897	$	30,344

Deferred leasing costs:
Leasing costs	$	25,132	$	22,621
Accumulated amortization	(8,993)		(7,626)
Deferred leasing costs, net	$	16,139	$	14,995

Schedule of Identified Intangible Assets and Liabilities

The following table summarizes the amortization related to intangible assets, intangible liabilities, and deferred leasing costs:


	Year ended December 31
	2024		2023		2022
Intangible assets:
In-place leases	$	28,133	$	32,179	$	20,993
Above-market leases	2,452		2,977		2,018
Amortization of intangible assets	$	30,585	$	35,156	$	23,011
Intangible liabilities:
Amortization of below-market leases	$	4,879	$	5,976	$	7,403
Deferred leasing costs:
Amortization of deferred leasing costs	$	3,213	$	2,691	$	2,533

Schedule 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, intangible liabilities, and deferred leasing costs as of December 31, 2024:


Year ending December 31,	In-place leases		Above market leases		Below market leases		Deferred leasing costs
2025	$	29,159	$	2,143	$	5,196	$	2,630
2026	23,450		1,719		4,649		2,463
2027	17,375		1,273		3,722		2,203
2028	13,323		967		3,205		1,910
2029	9,426		616		2,894		1,631
Thereafter	36,338		1,631		23,231		5,302
Total	$	129,071	$	8,349	$	42,897	$	16,139