Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

At December 31, 2013 and 2012, intangible assets included the following (in thousands):



	2013		2012
In-place leases, net of accumulated amortization of $26,239 and $5,729 in 2013 and 2012, respectively	$	152,830	$	21,637
Above-market tenant leases, net of accumulated amortization of $11,284 and $9,424 in 2013 and 2012, respectively	12,332		6,892
Below-market ground lease, net of accumulated amortization of $21 and $-0- in 2013 and 2012, respectively	1,680		—
Goodwill	4,131		4,751
	$	170,973	$	33,280

Aggregate Amortization of Intangible Assets and Liabilities

Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows (in thousands):



	Below Market Rents			Above Market Ground Lease			Below Market Ground Lease		Above Market Rents		In Place Leases		Total
2014	$	(10,470	)	$	(55	)	$	42	$	2,622	$	35,462	$	27,601
2015	(8,715		)	(55		)	42		2,042		27,528		20,842
2016	(8,091		)	(55		)	42		1,884		21,832		15,612
2017	(6,910		)	(55		)	42		1,474		15,913		10,464
2018	(6,271		)	(55		)	42		1,147		13,514		8,377
Thereafter	(23,409		)	(2,335		)	1,470		3,163		38,581		17,470
	$	(63,866	)	$	(2,610	)	$	1,680	$	12,332	$	152,830	$	100,366
Weighted average remaining lease term	9 years			50 years			41 years		7 years		8 years		20 years

Summary of Goodwill Activity

The following is a summary of goodwill activity for the years ended December 31, 2013 and 2012 (in thousands):



	2013			2012
Beginning Balance	$	4,751		$	5,155
Allocated to property sales	(620		)	(404		)
Ending Balance	$	4,131		$	4,751