Significant Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Allocation of Fair Value of Amounts Recognized

The following table summarizes amounts recognized for each major class of assets and liability (in thousands) for these acquisitions during the year ended December 31, 2018:

Real estate assets	$	328,126
Lease related intangible assets	24,996
Total acquired assets	353,122
Below market lease liability	505
Fair value of acquired net assets	$	352,617

The following table summarizes amounts recognized for each major class of asset and liability (in thousands) for these acquisitions during the year ended December 31, 2017:

Real estate assets	$	945,844
Lease related intangible assets	46,807
Total acquired assets	$	992,651
Below market lease liability	1,483
Fair value of acquired net assets	$	991,168

The following table summarizes amounts recognized for each major class of assets (in thousands) for these acquisitions during the year ended December 31, 2019:

Real estate assets	$	205,390
Lease related intangible assets	11,716
Fair value of acquired net assets	$	217,106

Summary of Significant Assumptions Utilized in Estimates

The most significant assumptions used in calculating the "as-if vacant" value for acquisition activity during 2019 and 2018, respectively, are as follows:

	2019		2018
	Low	High	Low	High
Exit capitalization rate	4.23%	5.32%	3.80%	4.91%
Net rental rate per square foot	$5.90	$15.60	$6.50	$10.20