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Lease Intangibles | 9 Months Ended
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Sep. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract] |
Lease Intangibles | 5. LEASE INTANGIBLES The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:
|  | September 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 |  |  | $ | (4,369,040 | ) |  | $ | 2,266,888 |  |  | $ | 6,872,980 |  |  | $ | (3,840,670 | ) |  | $ | 3,032,310 |
Leasing costs |  |  | 4,622,792 |  |  | $ | (2,849,914 | ) |  |  | 1,772,878 |  |  |  | 4,813,951 |  |  |  | (2,517,759 | ) |  |  | 2,296,192 |
Above-market leases |  |  | 2,124,360 |  |  | $ | (1,665,341 | ) |  |  | 459,019 |  |  |  | 2,124,360 |  |  |  | (1,586,328 | ) |  |  | 538,032 |
|  | $ | 13,383,080 |  |  | $ | (8,884,295 | ) |  | $ | 4,498,785 |  |  | $ | 13,811,291 |  |  | $ | (7,944,757 | ) |  | $ | 5,866,534 |
The net value of acquired intangible liabilities was $1,457,204 and $1,698,086 relating to below-market leases as of September 30, 2017 and December 31, 2016, respectively. Aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
Three months remaining in 2017 |  | $ | 365,385 |
Years ending December 31: |  |  |  |
2018 |  |  | 1,320,270 |
2019 |  |  | 1,066,827 |
2020 |  |  | 850,757 |
2021 |  |  | 554,344 |
Thereafter |  |  | 341,202 |
Total |  | $ | 4,498,785 |
The weighted average remaining amortization period of the intangible assets as of September 30, 2017 is 3.5 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 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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