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Lease Intangibles | 9 Months Ended
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Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract] |
Lease Intangibles | 5. LEASE INTANGIBLES The following table summarizes the net value of other intangible assets and the accumulated amortization for each class of intangible asset:
|  | September 30, 2016 |  |  | December 31, 2015 |
|  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |  |  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |
In-place leases |  | $ | 6,872,980 |  |  | $ | (3,557,650 | ) |  | $ | 3,315,330 |  |  | $ | 6,903,882 |  |  | $ | (2,647,002 | ) |  | $ | 4,256,880 |
Leasing costs |  |  | 4,813,951 |  |  |  | (2,346,219 | ) |  |  | 2,467,732 |  |  |  | 4,816,858 |  |  |  | (1,766,578 | ) |  |  | 3,050,280 |
Above-market leases |  |  | 2,124,360 |  |  |  | (1,555,179 | ) |  |  | 569,181 |  |  |  | 2,124,360 |  |  |  | (1,415,762 | ) |  |  | 708,598 |
|  | $ | 13,811,291 |  |  | $ | (7,459,048 | ) |  | $ | 6,352,243 |  |  | $ | 13,845,100 |  |  | $ | (5,829,342 | ) |  | $ | 8,015,758 |
The net value of acquired intangible liabilities was $1,808,531 and $2,154,479 relating to below-market leases as of September 30, 2016 and December 31, 2015, respectively. Aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
Three months remaining in 2016 |  | $ | 490,377 |
Years ending December 31: |  |  |  |
2017 |  |  | 1,652,598 |
2018 |  |  | 1,132,151 |
2019 |  |  | 913,421 |
2020 |  |  | 708,769 |
Thereafter |  |  | 1,454,927 |
Total |  | $ | 6,352,243 |
The weighted average amortization of the intangible assets as of September 30, 2016 is 4.0 years.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 + Details
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