Intangible Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2020

Identified Intangibles, Net [Abstract]

Schedule of Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of March 31, 2020 and December 31, 2019, respectively (in thousands, except weighted average remaining amortization terms):

	March 31, 2020			December 31, 2019
	Balance		Weighted Average Remaining Amortization in Years	Balance		Weighted Average Remaining Amortization in Years
Assets:
In place leases	$	483,834	9.5	$	481,173	9.5
Tenant relationships	146,701		9.7	146,893		9.7
Above market leases	37,804		6.1	37,613		6.2
	668,339			665,679
Accumulated amortization	(403,314)			(387,827)
Total	$	265,025	9.4	$	277,852	9.4
Liabilities:
Below market leases	$	66,599	14.2	$	65,966	13.9
Accumulated amortization	(29,940)			(27,187)
Total	$	36,659	14.2	$	38,779	13.9

Summary of Net Intangible Amortization

The following is a summary of the net intangible amortization for the three months ended March 31, 2020 and 2019, respectively (in thousands):

	Three Months Ended March 31,
	2020		2019
Amortization recorded against rental income related to above and (below) market leases	$	(1,968)	$	(491)
Amortization expense related to in place leases and tenant relationships	15,935		14,665