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Intangible Assets | 12 Months Ended
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Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | 6. INTANGIBLE ASSETS As of December 31, 2016 and 2015, the Company’s intangible assets were comprised of the following (in thousands):
| December 31, 2016 |
| Total Cost |  |  | Accumulated Amortization |  |  | Intangible Assets, net |
Intangible assets, net: |  |  |  |  |  |  |  |  |  |  |
In-place lease value | $ | 142,889 |  |  | $ | (75,696 | ) |  | $ | 67,193 |
Tenant relationship value |  | 13,074 |  |  |  | (10,167 | ) |  |  | 2,907 |
Above market leases acquired |  | 4,718 |  |  |  | (2,340 | ) |  |  | 2,378 |
Total intangible assets, net | $ | 160,681 |  |  | $ | (88,203 | ) |  | $ | 72,478 |
Acquired lease intangibles, net: |  |  |  |  |  |  |  |  |  |  |
Below market leases acquired | $ | 37,579 |  |  | $ | (19,460 | ) |  | $ | 18,119 |
| December 31, 2015 |
| Total Cost |  |  | Accumulated Amortization |  |  | Intangible Assets, net |
Intangible assets, net: |  |  |  |  |  |  |  |  |  |  |
In-place lease value | $ | 161,276 |  |  | $ | (57,063 | ) |  | $ | 104,213 |
Tenant relationship value |  | 20,117 |  |  |  | (15,580 | ) |  |  | 4,537 |
Above market leases acquired |  | 5,333 |  |  |  | (1,879 | ) |  |  | 3,454 |
|  | 186,726 |  |  |  | (74,522 | ) |  |  | 112,204 |
Assets held for sale |  | (2,854 | ) |  |  | 2,273 |  |  |  | (581 | )
Total intangible assets, net | $ | 183,872 |  |  | $ | (72,249 | ) |  | $ | 111,623 |
Acquired lease intangibles, net: |  |  |  |  |  |  |  |  |  |  |
Below market leases acquired | $ | 50,025 |  |  | $ | (24,178 | ) |  | $ | 25,847 |
Assets held for sale |  | (1,069 | ) |  |  | 877 |  |  |  | (192 | )
Total acquired lease intangibles, net | $ | 48,956 |  |  | $ | (23,301 | ) |  | $ | 25,655 |
For the years ended December 31, 2016, 2015, and 2014, the Company accelerated the amortization approximately $0.6 million, $0.5 million and $0.8 million, respectively, of intangible assets as a result of tenant move-outs prior to the end of the associated lease term. For the years ended December 31, 2016, 2015, and 2014, the Company accelerated amortization of a nominal amount of intangible liabilities as a result of tenant move-outs. As of December 31, 2016, the Company’s annual amortization for its intangible assets/liabilities, assuming no early lease terminations, are as follows (dollars in thousands):
| Assets |  |  | Liabilities |
2017 | $ | 19,663 |  |  | $ | 3,323 |
2018 |  | 11,754 |  |  |  | 2,196 |
2019 |  | 10,536 |  |  |  | 1,885 |
2020 |  | 8,457 |  |  |  | 1,337 |
2021 |  | 5,971 |  |  |  | 807 |
Thereafter |  | 16,097 |  |  |  | 8,571 |
Total | $ | 72,478 |  |  | $ | 18,119 |

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