Intangibles (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The gross carrying amount and accumulated amortization of our intangible assets and liabilities are:

	June 30, 2024
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,969	$	(33,461)	$	13,508
Leasing commissions	5,768		(1,837)		3,931
Above-market lease intangibles	1,951		(454)		1,497
Total intangible assets, net	$	54,688	$	(35,752)	$	18,936
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,726	$	(1,154)	$	1,572
Total intangible liabilities, net	$	2,726	$	(1,154)	$	1,572

	December 31, 2023
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,969	$	(32,085)	$	14,884
Leasing commissions	5,768		(1,506)		4,262
Above-market lease intangibles	1,951		(367)		1,584
Total intangible assets, net	$	54,688	$	(33,958)	$	20,730
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,726	$	(956)	$	1,770
Total intangible liabilities, net	$	2,726	$	(956)	$	1,770

Schedule of Below Market Leases

The gross carrying amount and accumulated amortization of our intangible assets and liabilities are:

	June 30, 2024
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,969	$	(33,461)	$	13,508
Leasing commissions	5,768		(1,837)		3,931
Above-market lease intangibles	1,951		(454)		1,497
Total intangible assets, net	$	54,688	$	(35,752)	$	18,936
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,726	$	(1,154)	$	1,572
Total intangible liabilities, net	$	2,726	$	(1,154)	$	1,572

	December 31, 2023
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,969	$	(32,085)	$	14,884
Leasing commissions	5,768		(1,506)		4,262
Above-market lease intangibles	1,951		(367)		1,584
Total intangible assets, net	$	54,688	$	(33,958)	$	20,730
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,726	$	(956)	$	1,770
Total intangible liabilities, net	$	2,726	$	(956)	$	1,770

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated future amortization of our intangibles for each of the next five years and thereafter as of June 30, 2024 is:

in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2024 (remainder)	$	1,148	$	300	$	88	$	(163)
2025	2,110		612		176		(361)
2026	2,073		610		176		(361)
2027	1,726		531		176		(274)
2028	1,593		496		176		(222)
2029	1,166		340		164		(72)
Thereafter	3,692		1,042		541		(119)
	$	13,508	$	3,931	$	1,497	$	(1,572)

Schedule of Below Market Lease, Future Amortization Income

The estimated future amortization of our intangibles for each of the next five years and thereafter as of June 30, 2024 is:

in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2024 (remainder)	$	1,148	$	300	$	88	$	(163)
2025	2,110		612		176		(361)
2026	2,073		610		176		(361)
2027	1,726		531		176		(274)
2028	1,593		496		176		(222)
2029	1,166		340		164		(72)
Thereafter	3,692		1,042		541		(119)
	$	13,508	$	3,931	$	1,497	$	(1,572)