Intangible Assets and Liabilities

9 Months Ended

Sep. 30, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND LIABILITIES

5. INTANGIBLE ASSETS AND LIABILITIES

As of September 30, 2018 and December 31, 2017, the Company’s intangible assets/liabilities were comprised of the following (in thousands):

	September 30, 2018
	Total Cost		Accumulated Amortization			Intangible Assets, net
Intangible assets, net:
In-place lease value	$	103,339	$	(51,072	)	$	52,267
Tenant relationship value		9,597		(8,420	)		1,177
Above market leases acquired		4,711		(3,016	)		1,695
Total intangible assets, net	$	117,647	$	(62,508	)	$	55,139
Acquired lease intangibles, net:
Below market leases acquired	$	34,523	$	(16,843	)	$	17,680

	December 31, 2017
	Total Cost		Accumulated Amortization			Intangible Assets, net
Intangible assets, net:
In-place lease value	$	108,060	$	(47,003	)	$	61,057
Tenant relationship value		11,201		(9,275	)		1,926
Above market leases acquired		4,545		(2,556	)		1,989
Total intangible assets, net	$	123,806	$	(58,834	)	$	64,972
Acquired lease intangibles, net:
Below market leases acquired	$	36,213	$	(15,939	)	$	20,274

As of September 30, 2018, the Company’s annual amortization for its intangible assets/liabilities, assuming no prospective early lease terminations, are as follows (dollars in thousands):

	Assets		Liabilities
2018 (three months remaining)	$	3,645	$	844
2019		12,735		2,833
2020		10,140		2,069
2021		7,538		1,432
2022		5,355		1,264
Thereafter		15,726		9,238
Total	$	55,139	$	17,680