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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2024
Business Combinations [Abstract] |
Schedule of Company Acquired Shopping Centers | During the three months ended March 31, 2024, the Company acquired the following convenience centers (in thousands):
Asset |  | Location |  | Date Acquired |  | Gross Purchase Price |  |
Grove at Harper's Preserve |  | Conroe, Texas |  | February 2024 |  | $ | 10,650 |  |
Shops at Gilbert Crossroads |  | Gilbert, Arizona |  | March 2024 |  |  | 8,460 |  |
|  |  |  |  |  | $ | 19,110 |  |
Schedule of Acquisition Cost of Shopping Centers | The fair value of the acquisitions was allocated as follows (in thousands):
|  |  |  | Weighted-Average Amortization Period (in Years)
Land | $ | 4,523 |  |  | N/A
Buildings |  | 11,760 |  |  | (A)
Tenant improvements |  | 573 |  |  | (A)
In-place leases (including lease origination costs and fair market value of leases) |  | 1,816 |  |  | 9.4
|  | 18,672 |  |  |
Less: Below-market leases |  | (381 | ) |  | 16.1
Less: Other liabilities assumed |  | (226 | ) |  | N/A
Net assets acquired | $ | 18,065 |  |  |
(A) Depreciated in accordance with the Company’s policy.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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