Intangible Assets and Below Market Lease Liabilities

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Below Market Lease Liabilities

Intangible Assets and Below Market Lease Liabilities

The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

	September 30, 2020		December 31, 2019
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)	$	369,374	$	377,472
Less accumulated amortization	(153,045)		(146,125)
	$	216,329	$	231,347
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities	$	64,569	$	65,971
Less accumulated amortization	(37,173)		(34,014)
	$	27,396	$	31,957

The following table sets forth amortization of intangible assets and below market lease liabilities:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)	$	8,466	$	9,003	$	25,830	$	28,077
Amortization of lease incentives (in rental and other revenues)	$	477	$	540	$	1,396	$	3,848
Amortization of acquisition-related intangible assets (in rental and other revenues)	$	273	$	305	$	882	$	1,005
Amortization of acquisition-related intangible assets (in rental property and other expenses)	$	140	$	140	$	417	$	416
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)	$	(1,479)	$	(1,656)	$	(4,562)	$	(5,072)

The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

	Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)		Amortization of Lease Incentives (in Rental and Other Revenues)		Amortization of Acquisition-Related Intangible Assets (in Rental and Other Revenues)		Amortization of Acquisition-Related Intangible Assets (in Rental Property and Other Expenses)		Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
October 1 through December 31, 2020	$	9,338	$	460	$	244	$	93	$	(1,395)
2021	34,011		1,601		718		—		(5,013)
2022	29,936		1,392		601		—		(3,982)
2023	26,470		1,315		447		—		(3,607)
2024	23,322		1,170		373		—		(2,939)
Thereafter	77,046		5,631		2,161		—		(10,460)
	$	200,123	$	11,569	$	4,544	$	93	$	(27,396)
Weighted average remaining amortization periods as of September 30, 2020 (in years)	8.3		9.5		9.7		0.2		8.6