Lease Intangibles

12 Months Ended

Dec. 31, 2013

9.	Lease Intangibles

Lease intangibles consisted of the following at December 31, 2013 and 2012 (in thousands):


	December 31, 2013			December 31, 2012
Lease intangibles	$	75,753		$	65,224
Less: Accumulated amortization		(25,887	)		(27,480	)

Lease intangibles, net	$	49,866		$	37,744


Below market leases	$	4,159		$	7,808
Less: Accumulated amortization		(1,760	)		(5,553	)

Below market leases, net	$	2,399		$	2,255

Amortization related to deferred leasing costs over the next five years is a follows (in thousands):


	Estimated Net Amortization of In-Place Leases, Leasing Commissions and Tenant Relationships		Net Decrease (Increase) to Rental Income Related to Above and Below Market Leases
2014	$	8,956	$	34
2015		6,776		369
2016		6,625		402
2017		6,390		464
2018		4,550		452