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Identified Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2016
Finite-Lived Intangible Assets, Net [Abstract]  
Schedule of Finite-Lived Intangible Assets
Identified intangible assets, net consisted of the following as of December 31, 2016 and 2015:
 
December 31,
 
2016
 
2015
In-place leases, net of accumulated amortization of $430,000 as of December 31, 2016 (with a weighted average remaining life of 8.1 years as of December 31, 2016)
$
12,504,000

 
$

Leasehold interests, net of accumulated amortization of $22,000 as of December 31, 2016 (with a weighted average remaining life of 71.5 years as of December 31, 2016)
6,390,000

 

Above-market leases, net of accumulated amortization of $31,000 as of December 31, 2016 (with a weighted average remaining life of 6.3 years as of December 31, 2016)
779,000

 

 
$
19,673,000

 
$

Amortization expense on identified intangible assets
As of December 31, 2016, estimated amortization expense on the identified intangible assets for each of the next five years ending December 31 and thereafter was as follows:
Year
 
Amount
2017
 
$
2,227,000

2018
 
2,099,000

2019
 
1,995,000

2020
 
1,778,000

2021
 
1,633,000

Thereafter
 
9,941,000

 
 
$
19,673,000