Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

INTANGIBLE ASSETS

As of December 31, 2013 and 2012, the Company’s intangible assets were comprised of the following (in thousands):

	December 31, 2013
	Total Cost		Accumulated Amortization			Intangible Assets, net
In-place lease value	$	150,782	$	(35,607	)	$	115,175
Tenant relationship value	38,692		(26,868		)	11,824
Above market leases acquired	6,673		(1,343		)	5,330
Total	$	196,147	$	(63,818	)	$	132,329
Below market leases acquired	$	81,991	$	(47,547	)	$	34,444

	December 31, 2012
	Total Cost		Accumulated Amortization			Intangible Assets, net
In-place lease value	$	87,909	$	(42,894	)	$	45,015
Tenant relationship value	56,137		(37,389		)	18,748
Above market leases acquired	8,565		(1,708		)	6,857
Total	$	152,611	$	(81,991	)	$	70,620
Below market leases acquired	$	77,083	$	(43,224	)	$	33,859

For the years ended December 31, 2013, 2012, and 2011, the Company wrote-off through the acceleration of amortization approximately $1.6 million, $1.4 million and $7.4 million, respectively, of intangible assets as a result of tenant move-outs prior to the end of the associated lease term. For the years ended December 31, 2013 and December 31, 2012, the Company accelerated amortization of a nominal amount of intangible liabilities as a result of tenant move-outs. For the year ended December 31, 2011, the Company accelerated amortization of $0.2 million of intangible liabilities as a result of tenant move-outs.

As of December 31, 2013, the Company’s annual amortization for its intangible assets/liabilities was as follows (in thousands, and assuming no early lease terminations):

	Assets		Liabilities
2014	$	27,043	$	7,614
2015	23,314		5,455
2016	18,573		3,486
2017	16,573		2,890
2018	12,161		2,353
Thereafter	34,665		12,646
Total	$	132,329	$	34,444