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Deferred Leasing Costs and Intangible Assets, net and Intangible Liabilities, net | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Deferred Leasing Costs and Intangible Assets, net and Intangible Liabilities, net | Deferred Leasing Costs and Intangible Assets, net and Intangible Liabilities, net The following summarizes the Company’s deferred leasing costs and intangibles as of:
| December 31, 2023 |  | December 31, 2022
Deferred leasing costs and in-place lease intangibles | $ | 290,969 |  |  | $ | 328,617 |
Accumulated amortization | (150,457) |  |  | (141,353) |
Deferred leasing costs and in-place lease intangibles, net | 140,512 |  |  | 187,264 |
Below-market ground leases | 77,943 |  |  | 79,562 |
Accumulated amortization | (20,733) |  |  | (17,979) |
Below-market ground leases, net | 57,210 |  |  | 61,583 |
Above-market leases | 673 |  |  | 724 |
Accumulated amortization | (376) |  |  | (324) |
Above-market leases, net | 297 |  |  | 400 |
Customer relationships | 97,900 |  |  | 97,900 |
Accumulated amortization | (26,363) |  |  | (12,346) |
Customer relationships, net | 71,537 |  |  | 85,554 |
Non-competition agreements | 8,200 |  |  | 8,200 |
Accumulated amortization | (3,279) |  |  | (1,632) |
Non-competition agreements, net | 4,921 |  |  | 6,568 |
Trade name | 37,200 |  |  | 37,200 |
Parking easement | 15,273 |  |  | 15,273 |
DEFERRED LEASING COSTS AND INTANGIBLE ASSETS, NET | $ | 326,950 |  |  | $ | 393,842 |
Below-market leases | $ | 58,833 |  |  | $ | 59,540 |
Accumulated amortization | (31,785) |  |  | (26,195) |
Below-market leases, net | 27,048 |  |  | 33,345 |
Above-market ground leases | 1,095 |  |  | 1,095 |
Accumulated amortization | (392) |  |  | (349) |
Above-market ground leases, net | 703 |  |  | 746 |
INTANGIBLE LIABILITIES, NET | $ | 27,751 |  |  | $ | 34,091 |
The Company recognized the following amortization related to deferred leasing costs and intangibles:
| For the Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Deferred leasing costs and in-place lease intangibles(1) | $ | (36,791) |  |  | $ | (40,171) |  |  | $ | (45,128) |
Below-market ground leases(2) | $ | (2,795) |  |  | $ | (2,775) |  |  | $ | (2,410) |
Above-market leases(3) | $ | (62) |  |  | $ | (124) |  |  | $ | (167) |
Customer relationships(1) | $ | (14,017) |  |  | $ | (9,662) |  |  | $ | (2,684) |
Non-competition agreements(1) | $ | (1,647) |  |  | $ | (1,253) |  |  | $ | (379) |
Below-market leases(3) | $ | 6,297 |  |  | $ | 8,156 |  |  | $ | 12,032 |
Above-market ground leases(2) | $ | 43 |  |  | $ | 43 |  |  | $ | 43 |
_____________ 1.Amortization is recorded in depreciation and amortization expenses and for lease incentive costs in office rental revenues on the Consolidated Statements of Operations. 2.Amortization is recorded in office operating expenses on the Consolidated Statements of Operations. 3.Amortization is recorded in office rental revenues on the Consolidated Statements of Operations. The following table provides information regarding the Company’s estimated future amortization of deferred leasing costs and intangibles as of December 31, 2023:
For the Year Ended December 31, |  | Deferred Leasing Costs and In-place Lease Intangibles |  | Below-market Ground Leases |  | Above-market Leases |  | Customer relationships |  | Non-competition agreements |  | Below-market Leases |  | Above-market Ground Leases
2024 |  | $ | (27,533) |  |  | $ | (2,754) |  |  | $ | (57) |  |  | $ | (13,986) |  |  | $ | (1,640) |  |  | $ | 5,119 |  |  | $ | 43 |
2025 |  | (21,242) |  |  | (2,754) |  |  | (49) |  |  | (13,986) |  |  | (1,640) |  |  | 4,157 |  |  | 43 |
2026 |  | (17,978) |  |  | (2,754) |  |  | (44) |  |  | (13,986) |  |  | (1,261) |  |  | 3,981 |  |  | 43 |
2027 |  | (15,184) |  |  | (2,754) |  |  | (43) |  |  | (13,986) |  |  | (380) |  |  | 3,913 |  |  | 43 |
2028 |  | (12,982) |  |  | (2,754) |  |  | (32) |  |  | (11,301) |  |  | — |  |  | 3,832 |  |  | 43 |
Thereafter |  | (45,593) |  |  | (43,440) |  |  | (72) |  |  | (4,292) |  |  | — |  |  | 6,046 |  |  | 488 |
TOTAL |  | $ | (140,512) |  |  | $ | (57,210) |  |  | $ | (297) |  |  | $ | (71,537) |  |  | $ | (4,921) |  |  | $ | 27,048 |  |  | $ | 703 |
During the year ended December 31, 2023, the Company recognized an impairment loss of $2.7 million related to the deferred leasing costs and intangible assets of its Foothill Research Center property. See Note 4 for details. The loss is recorded within impairment loss on the Consolidated Statements of Operations. During the year ended December 31, 2022, the Company recognized an $8.5 million impairment of the Zio trade name within impairment loss on the Consolidated Statement of Operations. The impairment is related to the announced rebranding and integration of Zio into the Company’s existing Sunset Studios platform, after which the Company will no longer use the Zio trade name. During the year ended December 31, 2022, the Company recognized an impairment loss of $2.4 million related to the below-market ground lease at its Del Amo office property. During the year ended December 31, 2021, the Company recognized an impairment loss of $0.4 million related to the below-market ground lease at its Del Amo office property. See Note 4 for details. The losses are recorded within impairment loss on the Consolidated Statements of Operations.

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