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Intangible Assets
 6 Months Ended
Jun. 30, 2011
Intangible Assets and Liabilities [Abstract]  
INTANGIBLE ASSETS
6. INTANGIBLE ASSETS
As of June 30, 2011 and December 31, 2010, the Company’s intangible assets were comprised of the following (in thousands):
                         
    June 30, 2011  
            Accumulated     Intangible Assets,  
    Total Cost     Amortization     net  
 
                       
In-place lease value
  $ 97,523     $ (61,390 )   $ 36,133  
Tenant relationship value
    80,242       (46,041 )     34,201  
Above market leases acquired
    16,718       (8,651 )     8,067  
 
                 
Total
  $ 194,483     $ (116,082 )   $ 78,401  
 
                 
 
                       
Below market leases acquired
  $ 66,402     $ (40,846 )   $ 25,556  
 
                 
                         
    December 31, 2010  
            Accumulated     Intangible Assets,  
    Total Cost     Amortization     net  
 
                       
In-place lease value
  $ 108,456     $ (63,010 )   $ 45,446  
Tenant relationship value
    95,385       (52,113 )     43,272  
Above market leases acquired
    18,319       (9,575 )     8,744  
 
                 
Total
  $ 222,160     $ (124,698 )   $ 97,462  
 
                 
 
                       
Below market leases acquired
  $ 67,198     $ (37,965 )   $ 29,233  
 
                 
As of June 30, 2011, the Company’s annual amortization for its intangible assets/liabilities were as follows (in thousands, and assuming no early lease terminations):
                 
    Assets     Liabilities  
2011 (six months remaining)
  $ 14,510     $ 3,581  
2012
    20,705       6,447  
2013
    12,452       5,902  
2014
    9,481       4,334  
2015
    6,717       2,158  
Thereafter
    14,536       3,134  
 
           
Total
  $ 78,401     $ 25,556