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TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
 3 Months Ended
Mar. 31, 2017
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]  
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
As of March 31, 2017 and December 31, 2016, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):
 
 
Tenant Origination and
Absorption Costs
 
Above-Market
Lease Assets
 
Below-Market
Lease Liabilities
 
 
March 31,
2017
 
December 31,
2016
 
March 31,
2017
 
December 31,
2016
 
March 31,
2017
 
December 31,
2016
Cost
 
$
53,626

 
$
48,964

 
$
1,877

 
$
1,877

 
$
(11,605
)
 
$
(10,945
)
Accumulated Amortization
 
(25,604
)
 
(23,989
)
 
(1,333
)
 
(1,244
)
 
5,072

 
4,394

Net Amount
 
$
28,022

 
$
24,975

 
$
544

 
$
633

 
$
(6,533
)
 
$
(6,551
)

Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three months ended March 31, 2017 and 2016 were as follows (in thousands):
 
 
Tenant Origination and
Absorption Costs
 
Above-Market
Lease Assets
 
Below-Market
Lease Liabilities
 
 
For the Three Months Ended
March 31,
 
For the Three Months Ended
March 31,
 
For the Three Months Ended
March 31,
 
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Amortization
 
$
(2,943
)
 
$
(2,211
)
 
$
(89
)
 
$
(120
)
 
$
983

 
$
308


Additionally, as of March 31, 2017 and December 31, 2016, the Company had recorded tax abatement intangible assets, net of amortization, which are included in prepaid expenses and other assets in the accompanying balance sheets, of $6.0 million and $6.3 million, respectively.  During the three months ended March 31, 2017 and 2016, the Company recorded amortization expense of $0.3 million and $0.2 million related to tax abatement intangible assets, respectively.