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TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2024
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]  
Schedule of Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities
As of December 31, 2024 and 2023, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):
 Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
 December 31,
2024
December 31,
2023
December 31,
2024
December 31,
2023
December 31,
2024
December 31,
2023
Cost$27,334 $34,285 $873 $904 $(4,679)$(7,216)
Accumulated Amortization(20,960)(25,161)(753)(715)4,135 6,147 
Net Amount$6,374 $9,124 $120 $189 $(544)$(1,069)
Schedule of Amortization of Tenant Origination and Absorption Costs, Above-Market Leases and Below-Market Lease Liabilities
Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):
 Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
For the Years Ended December 31,For the Years Ended December 31,For the Years Ended December 31,
202420232022202420232022202420232022
Amortization$(2,751)$(3,907)$(5,744)$(69)$(73)$(86)$525 $842 $1,366 
Schedule of Remaining Unamortized Balance
The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2024 is estimated to be amortized for the years ending December 31 as follows (in thousands):
Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
2025$(2,311)$(68)$314 
2026(1,741)(52)198 
2027(1,033)— 32 
2028(910)— — 
2029(379)— — 
Thereafter— — — 
$(6,374)$(120)$544 
Weighted-Average Remaining Amortization Period3.4 years1.8 years1.8 years