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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | 7. INTANGIBLE ASSETS As of December 31, 2019 and 2018, the Company’s intangible assets were comprised of the following (in thousands):
| December 31, 2019
| Total Cost |  | Accumulated Amortization |  | Intangible Assets, net
Intangible assets, net: |  |  |  |  |
In-place lease value | $ | 167,357 |  |  | $ | (84,123 | ) |  | $ | 83,234 |
Tenant relationship value | 5,268 |  |  | (4,815 | ) |  | 453 |
Above market leases acquired | 4,956 |  |  | (3,792 | ) |  | 1,164 |
Total intangible assets, net | $ | 177,581 |  |  | $ | (92,730 | ) |  | $ | 84,851 |
| Total Cost |  | Accumulated Amortization |  | Intangible Liabilities, net
Intangible liabilities, net: |  |  |  |  |
Below market leases acquired | $ | 44,757 |  |  | $ | (22,494 | ) |  | $ | 22,263 |
| December 31, 2018
| Total Cost |  | Accumulated Amortization |  | Intangible Assets, net
Intangible assets, net: |  |  |  |  |
In-place lease value | $ | 181,887 |  |  | $ | (53,376 | ) |  | $ | 128,511 |
Tenant relationship value | 9,564 |  |  | (8,551 | ) |  | 1,013 |
Above market leases acquired | 4,966 |  |  | (3,142 | ) |  | 1,824 |
Total intangible assets, net | $ | 196,417 |  |  | $ | (65,069 | ) |  | $ | 131,348 |
| Total Cost |  | Accumulated Amortization |  | Intangible Liabilities, net
Intangible liabilities, net: |  |  |  |  |
Below market leases acquired | $ | 49,655 |  |  | $ | (17,872 | ) |  | $ | 31,783 |
For the years ended December 31, 2019, 2018, and 2017, the Company accelerated the amortization of intangible assets by approximately $4.5 million, $0.7 million, and $0.6 million, respectively, as a result of tenant move-outs prior to the end of the associated lease term. For the year ended December 31, 2019 the Company accelerated the amortization of approximately $2.2 million of intangible liabilities as a result of tenant move-outs. For the years ended December 31, 2018 and 2017 the Company accelerated the amortization of a nominal amount of intangible liabilities as a result of tenant move-outs. As of December 31, 2019, the Company’s annual amortization for its intangible assets/liabilities, assuming no early lease terminations, are as follows (dollars in thousands):
| Assets |  | Liabilities
2020 | $ | 27,813 |  |  | $ | 5,270 |
2021 | 17,887 |  |  | 3,856 |
2022 | 12,067 |  |  | 2,263 |
2023 | 9,236 |  |  | 1,722 |
2024 | 6,317 |  |  | 1,434 |
Thereafter | 11,531 |  |  | 7,718 |
Total | $ | 84,851 |  |  | $ | 22,263 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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