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Lease Intangibles (Tables)
 6 Months Ended
Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Net Value of Other Intangible Assets

The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:

 

 

 

June 30, 2017

 

 

December 31, 2016

 

 

 

Lease Intangibles

 

 

Accumulated Amortization

 

 

Lease Intangibles, net

 

 

Lease Intangibles

 

 

Accumulated Amortization

 

 

Lease Intangibles, net

 

In-place leases

 

$

6,635,928

 

 

$

(4,150,414

)

 

$

2,485,514

 

 

$

6,872,980

 

 

$

(3,840,670

)

 

$

3,032,310

 

Leasing costs

 

 

4,622,792

 

 

 

(2,709,250

)

 

 

1,913,542

 

 

 

4,813,951

 

 

 

(2,517,759

)

 

 

2,296,192

 

Above-market leases

 

 

2,124,360

 

 

 

(1,641,992

)

 

 

482,368

 

 

 

2,124,360

 

 

 

(1,586,328

)

 

 

538,032

 

 

 

$

13,383,080

 

 

$

(8,501,656

)

 

$

4,881,424

 

 

$

13,811,291

 

 

$

(7,944,757

)

 

$

5,866,534

 

 
Amortization Expense for the Company Lease Intangible Assets

Aggregate approximate amortization expense for the Company's lease intangible assets is as follows:

 

Six months remaining in 2017

 

$

749,854

 

Years ending December 31:

 

 

 

 

2018

 

 

1,320,270

 

2019

 

 

1,066,827

 

2020

 

 

850,757

 

2021

 

 

554,344

 

Thereafter

 

 

339,372

 

Total

 

$

4,881,424