Intangibles

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles

Intangibles

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

	September 30, 2024
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	47,876	$	(34,100)	$	13,776
Leasing commissions	5,816		(1,984)		3,832
Above-market lease intangibles	1,951		(498)		1,453
Total intangible assets, net	$	55,643	$	(36,582)	$	19,061
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	4,243	$	(1,244)	$	2,999
Total intangible liabilities, net	$	4,243	$	(1,244)	$	2,999

	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

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

in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2024 (remainder)	$	559	$	155	$	44	$	(212)
2025	2,282		621		176		(647)
2026	2,244		620		176		(647)
2027	1,897		540		176		(560)
2028	1,765		505		176		(495)
2029	1,337		349		164		(319)
Thereafter	3,692		1,042		541		(119)
	$	13,776	$	3,832	$	1,453	$	(2,999)