Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2020

Real Estate [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes amounts recognized for each major class of assets and liabilities (in thousands) for these acquisitions during the nine months ended September 30, 2020:

Real estate assets	$	115,257
Lease related intangible assets	4,890
Total acquired assets	120,147
Secured debt	25,455
Below market lease liability	8,079
Other liabilities	371
Total assumed liabilities	33,905
Fair value of acquired net assets	$	86,242

Summary of Most Significant Assumptions Utilized in the Estimations

The most significant assumptions used in calculating the "as-if vacant" value for acquisition activity during the nine months ended September 30, 2020 are as follows:

	Low	High
Exit capitalization rate	4.7%	5.5%
Net rental rate per square foot	$7.50	$11.04