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Deferred Leasing Costs and Intangible Assets, net and Intangible Liabilities, net (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-lived Intangible Assets and Liabilities
The following summarizes the Company’s deferred leasing costs and intangibles as of:
December 31, 2023December 31, 2022
Deferred leasing costs and in-place lease intangibles$290,969 $328,617 
Accumulated amortization(150,457)(141,353)
Deferred leasing costs and in-place lease intangibles, net140,512 187,264 
Below-market ground leases77,943 79,562 
Accumulated amortization(20,733)(17,979)
Below-market ground leases, net57,210 61,583 
Above-market leases673 724 
Accumulated amortization(376)(324)
Above-market leases, net297 400 
Customer relationships97,900 97,900 
Accumulated amortization(26,363)(12,346)
Customer relationships, net71,537 85,554 
Non-competition agreements8,200 8,200 
Accumulated amortization(3,279)(1,632)
Non-competition agreements, net4,921 6,568 
Trade name37,200 37,200 
Parking easement15,273 15,273 
DEFERRED LEASING COSTS AND INTANGIBLE ASSETS, NET
$326,950 $393,842 
Below-market leases$58,833 $59,540 
Accumulated amortization(31,785)(26,195)
Below-market leases, net27,048 33,345 
Above-market ground leases1,095 1,095 
Accumulated amortization(392)(349)
Above-market ground leases, net703 746 
INTANGIBLE LIABILITIES, NET
$27,751 $34,091 
Schedule of Amortization During Period
The Company recognized the following amortization related to deferred leasing costs and intangibles:
For the Year Ended December 31,
202320222021
Deferred leasing costs and in-place lease intangibles(1)
$(36,791)$(40,171)$(45,128)
Below-market ground leases(2)
$(2,795)$(2,775)$(2,410)
Above-market leases(3)
$(62)$(124)$(167)
Customer relationships(1)
$(14,017)$(9,662)$(2,684)
Non-competition agreements(1)
$(1,647)$(1,253)$(379)
Below-market leases(3)
$6,297 $8,156 $12,032 
Above-market ground leases(2)
$43 $43 $43 
_____________ 
1.Amortization is recorded in depreciation and amortization expenses and for lease incentive costs in office rental revenues on the Consolidated Statements of Operations.
2.Amortization is recorded in office operating expenses on the Consolidated Statements of Operations.
3.Amortization is recorded in office rental revenues on the Consolidated Statements of Operations.
Schedule of Future Amortization Expense
The following table provides information regarding the Company’s estimated future amortization of deferred leasing costs and intangibles as of December 31, 2023:
For the Year Ended December 31,Deferred Leasing Costs and In-place Lease IntangiblesBelow-market Ground LeasesAbove-market LeasesCustomer relationshipsNon-competition agreementsBelow-market LeasesAbove-market Ground Leases
2024$(27,533)$(2,754)$(57)$(13,986)$(1,640)$5,119 $43 
2025(21,242)(2,754)(49)(13,986)(1,640)4,157 43 
2026(17,978)(2,754)(44)(13,986)(1,261)3,981 43 
2027(15,184)(2,754)(43)(13,986)(380)3,913 43 
2028(12,982)(2,754)(32)(11,301)— 3,832 43 
Thereafter(45,593)(43,440)(72)(4,292)— 6,046 488 
TOTAL
$(140,512)$(57,210)$(297)$(71,537)$(4,921)$27,048 $703 
Schedule of Estimated Amortization Income
The following table provides information regarding the Company’s estimated future amortization of deferred leasing costs and intangibles as of December 31, 2023:
For the Year Ended December 31,Deferred Leasing Costs and In-place Lease IntangiblesBelow-market Ground LeasesAbove-market LeasesCustomer relationshipsNon-competition agreementsBelow-market LeasesAbove-market Ground Leases
2024$(27,533)$(2,754)$(57)$(13,986)$(1,640)$5,119 $43 
2025(21,242)(2,754)(49)(13,986)(1,640)4,157 43 
2026(17,978)(2,754)(44)(13,986)(1,261)3,981 43 
2027(15,184)(2,754)(43)(13,986)(380)3,913 43 
2028(12,982)(2,754)(32)(11,301)— 3,832 43 
Thereafter(45,593)(43,440)(72)(4,292)— 6,046 488 
TOTAL
$(140,512)$(57,210)$(297)$(71,537)$(4,921)$27,048 $703