Intangible Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Liabilities Relating to Amortization

The following is a summary of intangible assets and liabilities and related accumulated amortization:

(in thousands)	June 30, 2022			December 31, 2021
Lease intangibles:
Acquired above-market leases	$	46,772		$	47,147
Less accumulated amortization		(18,052	)		(16,807	)
Acquired above-market leases, net		28,720			30,340
Acquired in-place leases		407,993			380,766
Less accumulated amortization		(120,594	)		(107,464	)
Acquired in-place leases, net		287,399			273,302
Total intangible lease assets, net	$	316,119		$	303,642
Acquired below-market leases	$	105,293		$	105,310
Less accumulated amortization		(38,429	)		(34,714	)
Intangible lease liabilities, net	$	66,864		$	70,596
Leasing fees	$	14,650		$	14,786
Less accumulated amortization		(5,533	)		(5,145	)
Leasing fees, net	$	9,117		$	9,641

Schedule of Amortization of Intangible Lease Assets and Liabilities

Amortization of intangible lease assets and liabilities was as follows:

(in thousands)		For the Three Months Ended June 30,				For the Six Months Ended June 30,
Intangible	Financial Statement Presentation	2022		2021		2022		2021
Acquired in-place leases and leasing fees	Depreciation and amortization	$	7,749	$	7,058	$	15,350	$	14,005
Above-market and below-market leases	Lease revenues, net		1,170		665		2,331		1,418

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization of intangible assets and liabilities at June 30, 2022 is as follows:

(in thousands)
Remainder of 2022	$	13,338
2023		26,512
2024		25,752
2025		24,455
2026		23,105
Thereafter		145,210
	$	258,372