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TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
3 Months Ended
Mar. 31, 2026
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]  
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-
MARKET LEASE LIABILITIES
As of March 31, 2026 and December 31, 2025, 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
 March 31, 2026December 31, 2025March 31, 2026December 31, 2025March 31, 2026December 31, 2025
Cost$22,307 $22,309 $873 $873 $(2,809)$(2,809)
Accumulated Amortization(18,776)(18,340)(838)(821)2,644 2,579 
Net Amount$3,531 $3,969 $35 $52 $(165)$(230)


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 three months ended March 31, 2026 and 2025 were as follows (in thousands):
Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
For the Three Months Ended
March 31,
For the Three Months Ended
March 31,
For the Three Months Ended
March 31,
202620252026202520262025
Amortization$(438)$(602)$(17)$(17)$65 $97