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INTANGIBLE ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND LIABILITIES
8. INTANGIBLE ASSETS AND LIABILITIES
As of December 31, 2022 and 2021, the Company’s intangible assets/liabilities were comprised of the following (in thousands):
December 31, 2022
Total CostAccumulated AmortizationIntangible Assets, net
Intangible assets, net:
In-place lease value$55,715 $(37,437)$18,278 
Tenant relationship value167 (104)63 
Above market leases acquired331 (221)110 
Total intangible assets, net$56,213 $(37,762)$18,451 
Total CostAccumulated AmortizationIntangible Liabilities, net
Intangible liabilities, net:
Below market leases acquired$20,985 $(10,663)$10,322 
December 31, 2021
Total CostAccumulated AmortizationIntangible Assets, net
Intangible assets, net:
In-place lease value$72,376 $(44,066)$28,310 
Tenant relationship value167 (97)70 
Above market leases acquired486 (310)176 
Total intangible assets, net$73,029 $(44,473)$28,556 
Total CostAccumulated AmortizationIntangible Liabilities, net
Intangible liabilities, net:
Below market leases acquired$27,025 $(14,044)$12,981 
For the years ended December 31, 2022, 2021, and 2020, the Company accelerated the amortization of intangible assets by approximately $0.4 million, $3.6 million, and $0.3 million, respectively, as a result of tenant move-outs prior to the end of the associated lease term. For the years ended December 31, 2022, 2021, and 2020 the Company accelerated the amortization of approximately $0.1 million, $0.6 million, and $0.1 million of intangible liabilities as a result of tenant move-outs.
As of December 31, 2022, the Company’s annual amortization for its intangible assets/liabilities, assuming no prospective early lease terminations, was as follows (dollars in thousands):
AssetsLiabilities
2023$6,573 $1,516 
20244,332 1,305 
20253,154 1,029 
20261,094 739 
2027809 623 
Thereafter2,489 5,110 
Total$18,451 $10,322