Lease Intangible Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2019

Finite-Lived Intangible Assets [Line Items]

Summary of Lease Intangible Assets

The following table summarizes the Company’s lease intangible assets and liabilities (in thousands):

June 30, 2019
	Gross		Accumulated
Lease Intangible Assets	Asset		Amortization			Balance
In-place leases, net	$	253,198	$	(160,355	)	$	92,843
Above-market leases, net		7,126		(3,637	)		3,489
Total	$	260,324	$	(163,992	)	$	96,332

December 31, 2018
	Gross		Accumulated
Lease Intangible Assets	Asset		Amortization			Balance
In-place leases, net	$	266,897	$	(158,235	)	$	108,662
Below-market ground leases, net		11,766		(710	)		11,056
Above-market leases, net		8,338		(4,400	)		3,938
Total	$	287,001	$	(163,345	)	$	123,656

Summary of Lease Intangible Liabilities

The following table summarizes the Company’s lease intangible assets and liabilities (in thousands):

	Gross		Accumulated
Lease Intangible Liabilities	Liability		Amortization			Balance
Below-market leases, net	$	16,816	$	(4,963	)	$	11,853
Total	$	16,816	$	(4,963	)	$	11,853

	Gross		Accumulated
Lease Intangible Liabilities	Liability		Amortization			Balance
Below-market leases, net	$	19,720	$	(7,439	)	$	12,281
Total	$	19,720	$	(7,439	)	$	12,281

Schedule of Future Amortization for Below-Market Ground Leases

Future amortization of the below-market ground lease is estimated to increase property expenses as set forth below (in thousands):

Remainder of 2019	$	101
2020		203
2021		203
2022		203
2023		203

Above-Market Leases, Net [Member]

Finite-Lived Intangible Assets [Line Items]

Schedule of Future Amortization of Acquired Leases

Future amortization of these intangibles is estimated to increase rental income as set forth below (in thousands):

Remainder of 2019	$	254
2020		326
2021		171
2022		141
2023		199

In-Place Leases, Net [Member]

Finite-Lived Intangible Assets [Line Items]

Schedule of Future Amortization of Acquired Leases

Future estimated amortization of acquired in-place leases is set forth below (in thousands):

Remainder of 2019	$	7,806
2020		14,344
2021		13,808
2022		13,500
2023		12,683