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

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets and Liabilities

The following summarizes the Company’s deferred leasing costs and intangibles as of:


	March 31, 2023		December 31, 2022
Deferred leasing costs and in-place lease intangibles	$	330,828	$	328,617
Accumulated amortization	(150,602)		(141,353)
Deferred leasing costs and in-place lease intangibles, net	180,226		187,264
Below-market ground leases	79,562		79,562
Accumulated amortization	(18,667)		(17,979)
Below-market ground leases, net	60,895		61,583
Above-market leases	724		724
Accumulated amortization	(351)		(324)
Above-market leases, net	373		400
Customer relationships	97,900		97,900
Accumulated amortization	(15,850)		(12,346)
Customer relationships, net	82,050		85,554
Non-competition agreements	8,200		8,200
Accumulated amortization	(2,044)		(1,632)
Non-competition agreements, net	6,156		6,568
Trade name	37,200		37,200
Parking easement	15,273		15,273
DEFERRED LEASING COSTS AND INTANGIBLE ASSETS, NET	$	382,173	$	393,842

Below-market leases	$	59,540	$	59,540
Accumulated amortization	(27,832)		(26,195)
Below-market leases, net	31,708		33,345
Above-market ground leases	1,095		1,095
Accumulated amortization	(360)		(349)
Above-market ground leases, net	735		746
INTANGIBLE LIABILITIES, NET	$	32,443	$	34,091

Schedule of Amortization During Period

The Company recognized the following amortization related to deferred leasing costs and intangibles:


	Three Months Ended March 31,
	2023		2022
Deferred leasing costs and in-place lease intangibles(1)	$	(9,248)	$	(10,419)
Below-market ground leases(2)	$	(699)	$	(679)
Above-market leases(3)	$	(17)	$	(68)
Customer relationships(1)	$	(3,504)	$	(1,875)
Non-competition agreements(1)	$	(412)	$	(265)
Below-market leases(3)	$	1,637	$	2,807
Above-market ground leases(2)	$	11	$	11

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1.Amortization is recorded in depreciation and amortization expenses and for lease incentive costs in office rental revenues in the Consolidated Statements of Operations.

2.Amortization is recorded in office operating expenses in the Consolidated Statements of Operations.

3.Amortization is recorded in office rental revenues in the Consolidated Statements of Operations.