Intangible Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets and Liabilities

As of September 30, 2016 and December 31, 2015, the Company’s intangible assets/liabilities were comprised of the following (in thousands):

	September 30, 2016
	Total Cost		Accumulated Amortization			Intangible Assets, net
Intangible assets, net:
In-place lease value	$	143,856	$	(68,400	)	$	75,456
Tenant relationship value		14,135		(10,938	)		3,197
Above market leases acquired		4,718		(2,164	)		2,554
Total intangible assets, net	$	162,709	$	(81,502	)	$	81,207
Acquired lease intangibles, net:
Below market leases acquired	$	37,731	$	(18,000	)	$	19,731

	December 31, 2015
	Total Cost			Accumulated Amortization			Intangible Assets, net
Intangible assets, net:
In-place lease value	$	161,276		$	(57,063	)	$	104,213
Tenant relationship value		20,117			(15,580	)		4,537
Above market leases acquired		5,333			(1,879	)		3,454
		186,726			(74,522	)		112,204
Assets held for sale		(2,854	)		2,273			(581	)
Total intangible assets, net	$	183,872		$	(72,249	)	$	111,623
Acquired lease intangibles, net:
Below market leases acquired	$	50,025		$	(24,178	)	$	25,847
Assets held for sale		(1,069	)		877			(192	)
Total acquired lease intangibles, net	$	48,956		$	(23,301	)	$	25,655

Summary of Amortization for Intangible Assets and Liabilities

As of September 30, 2016, the Company’s annual amortization for its intangible assets/liabilities were as follows (in thousands, and assuming no prospective early lease terminations):

	Assets		Liabilities
2016 (three months remaining)	$	7,113	$	1,613
2017		19,658		3,323
2018		11,753		2,196
2019		10,542		1,885
2020		8,456		1,337
Thereafter		23,685		9,377
Total	$	81,207	$	19,731