Acquisition of Real Estate (Tables)

9 Months Ended

Sep. 30, 2020

Real Estate [Abstract]

Schedule of Business Acquisitions, by Acquisition

During the nine months ended September 30, 2020, the Company acquired the following assets:

Description(1)	Location	Month Acquired	GLA	Aggregate Purchase Price(2)
Land adjacent to Shops at Palm Lakes	Miami Gardens, FL	Feb-20	N/A	$	2,020
Land adjacent to College Plaza	Selden, NY	Jul-20	N/A	1,405
			N/A	$	3,425

(1)No debt was assumed related to the listed acquisitions.

(2)Aggregate purchase price includes $0.1 million of transaction costs.

During the nine months ended September 30, 2019, the Company acquired the following assets, in separate transactions:

Description(1)	Location	Month Acquired	GLA	Aggregate Purchase Price(2)
Land adjacent to Parmer Crossing	Austin, TX	Apr-19	N/A	$	2,197
Centennial Shopping Center	Englewood, CO	Apr-19	113,682	18,011
Plymouth Square Shopping Center(3)	Conshohocken, PA	May-19	235,728	56,909
Leases at Baytown Shopping Center	Baytown, TX	Jun-19	N/A	2,517
			349,410	$	79,634

(1)No debt was assumed related to any of the listed acquisitions.

(2)Aggregate purchase price includes $1.2 million of transaction costs.

(3)GLA excludes square footage related to the anticipated relocation of the Company's regional office. Total acquired GLA is 288,718 square feet.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The aggregate purchase price of the assets acquired during the nine months ended September 30, 2020 and 2019, respectively, has been allocated as follows:

		Nine Months Ended September 30,
Assets		2020		2019
	Land	$	3,425	$	25,953
	Buildings	—		45,781
	Building and tenant improvements	—		5,832
	Above-market leases(1)	—		155
	In-place leases(2)	—		6,923
Total assets		3,425		84,644
Liabilities
	Below-market leases(3)	—		5,010
Total liabilities		—		5,010
Net assets acquired		$	3,425	$	79,634

(1)The weighted average amortization period at the time of acquisition for above-market leases related to assets acquired during the nine months ended September 30, 2019 was 10.4 years.

(2)The weighted average amortization period at the time of acquisition for in-place leases related to assets acquired during the nine months ended September 30, 2019 was 8.8 years.

(3)The weighted average amortization period at the time of acquisition for below-market leases related to assets acquired during the nine months ended September 30, 2019 was 24.3 years.