Acquired Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Net Accumulated Amortization and Accretion

The Company had the following acquired lease intangibles, net of accumulated amortization and accretion, as of December 31, 2013 and 2012 (in thousands):



		2013	2012
In-place leases, net	$	33,049	31,314
Above-market leases, net		10,074	9,440
Above-market ground leases, net		1,682	1,705
Acquired lease intangible assets, net	$	44,805	42,459

Acquired lease intangible liabilities, net	$	26,729	20,325

The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles for the years ended December 31, 2013, 2012, and 2011:



		2013	2012	2011	Remaining Weighted Average Amortization/Accretion Period
		(in thousands)	(in thousands)	(in thousands)	(in years)
In-place lease amortization	$	7,441	4,307	3,436	14.4
Above-market lease amortization ⁽¹⁾		1,246	739	319	9.0
Above-market ground lease amortization ⁽³⁾		22	23	17	83.5
Acquired lease intangible asset amortization	$	8,709	5,069	3,772

Acquired lease intangible liability accretion ⁽²⁾⁽³⁾	$	3,726	1,950	1,375	13.4

⁽¹⁾ Amounts are recorded as a reduction to minimum rent.

⁽²⁾ Amounts are recorded as an increase to minimum rent.

Schedule of Future Amortization Expense and Minimum Rent

The estimated aggregate amortization and net accretion amounts from acquired lease intangibles for the next five years are as follows (in thousands):



Year Ending December 31,		Amortization Expense	Net Accretion
2014	$	7,265	3,521
2015		5,780	2,557
2016		4,902	2,219
2017		3,852	1,995
2018		3,224	1,619