Intangible Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Identified Intangibles, Net [Abstract]

Schedule of Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of September 30, 2020 and December 31, 2019, respectively (in thousands, except weighted average remaining amortization terms):

	September 30, 2020			December 31, 2019
	Balance		Weighted Average Remaining Amortization in Years	Balance		Weighted Average Remaining Amortization in Years
Assets:
In place leases	$	473,776	9.6	$	481,173	9.5
Tenant relationships	145,272		9.9	146,893		9.7
Above market leases	37,804		5.9	37,613		6.2
	656,852			665,679
Accumulated amortization	(418,996)			(387,827)
Total	$	237,856	9.4	$	277,852	9.4
Liabilities:
Below market leases	$	61,660	14.5	$	65,966	13.9
Accumulated amortization	(28,074)			(27,187)
Total	$	33,586	14.5	$	38,779	13.9

Summary of Net Intangible Amortization

The following is a summary of the net intangible amortization for the three and nine months ended September 30, 2020 and 2019, respectively (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Amortization recorded against rental income related to above and (below) market leases	$	(712)	$	(1,658)	$	(3,431)	$	(2,678)
Amortization expense related to in place leases and tenant relationships	13,230		16,149		42,603		44,906