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Deferred Leasing Costs and Lease Intangibles, net
 9 Months Ended
Sep. 30, 2017
Leases [Abstract]  
Deferred Leasing Costs and Lease Intangibles, net
Deferred Leasing Costs and Lease Intangibles, net

The following summarizes the Company’s deferred leasing costs and lease intangibles as of:
 
September 30, 2017
 
December 31, 2016
Above-market leases
$
19,622

 
$
23,430

Accumulated amortization
(14,299
)
 
(12,989
)
Above-market leases, net
5,323

 
10,441

Deferred leasing costs and in-place lease intangibles
316,695

 
350,747

Accumulated amortization
(128,598
)
 
(133,511
)
Deferred leasing costs and in-place lease intangibles, net
188,097

 
217,236

Below-market ground leases
71,210

 
71,423

Accumulated amortization
(6,799
)
 
(4,891
)
Below-market ground leases, net
64,411

 
66,532

Deferred leasing costs and lease intangible assets, net(1)
$
257,831

 
$
294,209

 
 
 
 
Below-market leases
$
111,443

 
$
128,817

Accumulated amortization
(57,081
)
 
(56,254
)
Below-market leases, net
54,362

 
72,563

Above-market ground leases
1,095

 
1,095

Accumulated amortization
(122
)
 
(89
)
Above-market ground leases, net
973

 
1,006

Lease intangible liabilities, net(1)
$
55,335

 
$
73,569

_____________ 
(1)
Excludes balances related to properties that have been classified as held for sale.
    
The Company recognized the following amortization related to deferred leasing costs and lease intangibles:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Above-market leases(1)
$
1,855

 
$
2,809

 
$
5,122

 
$
10,223

Below-market leases(1)
5,776

 
7,311

 
19,448

 
24,027

Deferred leasing costs and in-place lease intangibles(2)
17,376

 
20,742

 
57,813

 
65,408

Above-market ground leases(3)
11

 
11

 
33


33

Below-market ground leases(3)
629

 
545

 
2,121


1,637


__________________ 
(1)
Amortization is recorded in revenues in the Consolidated Statements of Operations.
(2)
Amortization is recorded in depreciation and amortization expenses and office rental revenues in the Consolidated Statements of Operations.
(3)
Amortization is recorded in office operating expenses in the Consolidated Statements of Operations.