Intangible Assets

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

INTANGIBLE ASSETS

Intangible assets on the balance sheets as of March 31, 2015 and December 31, 2014 included the following (in thousands):

	March 31, 2015		December 31, 2014
In-place leases, net of accumulated amortization of $72,311 and $62,302 in 2015 and 2014, respectively	$	137,574	$	147,360
Above-market tenant leases, net of accumulated amortization of $15,284 and $13,748 in 2015 and 2014, respectively	11,278		12,017
Goodwill	3,867		3,867
	$	152,719	$	163,244

Goodwill relates entirely to the office reportable segment. As office assets are sold, either by the Company or by joint ventures in which the Company has an ownership interest, goodwill is reduced. The following is a summary of goodwill activity for the three months ended March 31, 2015 and 2014 (in thousands):

	Three Months Ended March 31,
	2015		2014
Beginning balance	$	3,867	$	4,131
Allocated to property sales	—		(31		)
Ending balance	$	3,867	$	4,100