Intangible Assets

6 Months Ended

Jun. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

INTANGIBLE ASSETS

Intangible assets on the balance sheets as of June 30, 2017 and December 31, 2016 included the following (in thousands):

	June 30, 2017		December 31, 2016
In-place leases, net of accumulated amortization of $74,308 and $46,899 in 2017 and 2016, respectively	$	170,234	$	185,251
Above-market tenant leases, net of accumulated amortization of $10,826 and $6,515 in 2017 and 2016, respectively	35,746		40,260
Below-market ground lease, net of accumulated amortization of $207 and $69 in 2017 and 2016, respectively	18,206		18,344
Goodwill	1,674		1,674
	$	225,860	$	245,529

The following is a summary of goodwill activity for the six months ended June 30, 2017 and 2016 (in thousands):

	Six Months Ended June 30,
	2017		2016
Beginning balance	$	1,674	$	3,647
Allocated to property sales	—		(21		)
Ending balance	$	1,674	$	3,626