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Acquired Intangible Assets and Liabilities
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquired Intangibles Assets and Liabilities Acquired Intangible Assets and Liabilities
Summarized below are the carrying values for the major classes of intangible assets and liabilities (in thousands):
December 31, 2020December 31, 2019
Useful LivesGross
Carrying
Value		Accumulated
Amortization		Net Carrying
Value		Gross
Carrying
Value		Accumulated
Amortization		Net Carrying
Value
Customer Relationships12 years$95,705 $(44,361)$51,344 $95,705 $(36,411)$59,294 
In-Place Leases
0.5 to 10 years
34,813 (26,812)8,001 34,588 (22,522)12,066 
Solar Power Agreement (1)
17 years13,747 (5,256)8,491 13,747 (4,448)9,299 
Acquired Favorable Leases
Acquired above market leases - as Lessor
0.5 to 8 years
5,070 (4,816)254 5,035 (4,015)1,020 
Total Intangible Assets$149,335 $(81,245)$68,090 $149,075 $(67,396)$81,679 
Solar Power Agreement (1)
17 years13,747 (5,256)8,491 13,747 (4,448)9,299 
Acquired Unfavorable Leases
Acquired below market leases - as Lessor
2 to 4 years
1,117 (1,113)4 1,092 (967)125 
Acquired above market leases - as Lessee
11 to 12 years
2,453 (1,199)1,254 2,453 (983)1,470 
Total Intangible Liabilities (2)
$17,317 $(7,568)$9,749 $17,292 $(6,398)$10,894 
(1)Amortization related to the Solar Power Agreement asset and liability is recorded at the same rate and therefore has no net impact on the statements of operations.
(2)Intangible liabilities are included within the “Advance rents, security deposits and other liabilities” line item of the consolidated balance sheets.
Above or below market leases are amortized as a reduction to or increase in rental revenue in the case of the Company as lessor as well as a reduction to or increase in rent expense in the case of the Company as lessee over the remaining lease terms. The net effect of amortization of acquired above-market and below-market leases resulted in a net decrease in rental revenue of $0.4 million, $0.2 million, and $0.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. The estimated amortization of acquired favorable and unfavorable leases for each of the five succeeding fiscal years ending December 31 is as follows (in thousands):
Net Rental Revenue
Decrease		Net Rental Expense Decrease
2021$164 $(216)
202255 (216)
202325 (216)
20246 (216)
2025— (216)
Thereafter— (174)
Total$250 $(1,254)
Net amortization of all other identified intangible assets and liabilities was $12.6 million, $13.2 million and $15.0 million for the years ended December 31, 2020, 2019 and 2018, respectively. The estimated net amortization of all other identified intangible assets and liabilities for each of the five succeeding fiscal years ending December 31 is as follows (in thousands):
Year Ending December 31,
2021$10,634 
202210,088 
202310,084 
20248,967 
20257,978 
Thereafter11,594 
Total$59,345