Acquired Properties (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Retail Properties Acquired

The following table reflects the retail properties acquired during the year ended December 31, 2025:


Month Acquired	Property	Market	Square Feet	Gross Acquisition Price		Assumption of Mortgage Debt
Apr-25	Plaza Escondida (a)	Tucson, AZ	91	$	23,000	$	7,981
Apr-25	Carmel Village	Charlotte-Gastonia-Concord, NC	54	19,925		—
Jun-25	West Ashley Station (b)	Charleston-Berkeley-Dorchester, SC	79	26,600		—
Jun-25	Twelve Oaks Shopping Center	Savannah, GA	106	35,850		—
Jul-25	The Marketplace at Encino Park	San Antonio, TX	92	38,500		—
Jul-25	West Broad Marketplace	Richmond Metro Area, VA	386	86,000		—
Aug-25	Asheville Market (c)	Asheville, NC	130	45,700		22,281
Sep-25	Rea Farms	Charlotte-Gastonia-Concord, NC	183	80,000		—
Dec-25	Daniels Marketplace (d)	Cape Coral - Fort Myers, FL	131	72,250		30,250
Dec-25	Mesa Shores	Phoenix - Mesa - Chandler, AZ	111	36,750		—
			1,363	$	464,575	$	60,512

(a)The Company recognized a fair value adjustment of $507 related to the mortgage payable secured by the property.

(b)The Company recognized a finance lease liability of $10,973 associated with the ground lease assumed upon acquisition. See "Note 13. Commitments and Contingencies".

(c)The Company recognized a fair value adjustment of $607 related to the mortgage payable secured by the property.

(d)The Company recognized a fair value adjustment of $967 related to the mortgage payable secured by the property.

The following table reflects the retail properties acquired during the year ended December 31, 2024:


Month Acquired	Property	Market	Square Feet	Gross Acquisition Price		Assumption of Mortgage Debt
Feb-24	The Plant (a)	Phoenix, AZ	57	$	29,500	$	13,000
Apr-24	Moores Mill	Atlanta Metro Area, GA	70	28,000		—
Jun-24	Maguire Groves (b)	Orlando-Kissimmee, FL	33	16,100		—
Aug-24	Scottsdale North Marketplace	Phoenix, AZ	66	23,000		—
Oct-24	Stonehenge Village	Richmond, VA	214	62,100		—
Nov-24	The Forum	Cape Coral-Fort Myers, FL	186	41,370		—
Dec-24	Market at Mill Creek	Charleston-Berkeley-Dorchester, SC	80	27,300		—
Dec-24	Nexton Square	Charleston-Berkeley-Dorchester, SC	134	54,700		—
			840	$	282,070	$	13,000

(a)The Company recognized a fair value adjustment of $410 related to the mortgage payable secured by the property.

(b)Maguire Groves is immediately adjacent to Plantation Grove, a Publix anchored neighborhood center wholly-owned by the Company. The Company operates these properties under the Plantation Grove name.

The following table presents the Company's purchase price allocations of retail properties acquired, accounted for as asset acquisitions, during the year ended December 31, 2025 and 2024:


	2025 Acquisitions			2024 Acquisitions
	Amount		Weighted Average Useful Life (in Years)	Amount		Weighted Average Useful Life (in Years)
Land	$	72,346	N/A	$	50,074	N/A
Building, roofs, and site improvements	326,873		28.1	195,281		27.2
Finance lease fair value adjustment (a)	(2,008)		66.6	—		N/A
In-place lease intangibles	93,735		8.5	52,652		8.3
Above-market lease intangibles	2,500		7.9	1,376		5.5
Mortgage payable fair value adjustments	2,081		3.6	410		1.3
Below-market lease intangibles	(32,641)		14.3	(17,435)		16.4
Net assets acquired	462,886			282,358
Capitalized acquisition costs	(2,571)			(1,116)
Closing credits	4,260			828
Gross acquisition price	$	464,575		$	282,070

(a)The Company recognized a fair value adjustment to the finance lease right-of-use ("ROU") asset related to the ground lease assumed upon the acquisition of West Ashley Station. See "Note 13. Commitments and Contingencies".