Intangibles (Tables)

6 Months Ended

Jun. 30, 2025

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, 2025
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,662	$	(29,712)	$	16,950
Leasing commissions	6,224		(2,528)		3,696
Above-market lease intangibles	1,951		(630)		1,321
Total intangible assets, net	$	54,837	$	(32,870)	$	21,967
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	7,671	$	(2,388)	$	5,283
Total intangible liabilities, net	$	7,671	$	(2,388)	$	5,283

	December 31, 2024
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	45,510	$	(26,021)	$	19,489
Leasing commissions	6,166		(2,121)		4,045
Above-market lease intangibles	1,951		(542)		1,409
Total intangible assets, net	$	53,627	$	(28,684)	$	24,943
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	7,230	$	(1,433)	$	5,797
Total intangible liabilities, net	$	7,230	$	(1,433)	$	5,797

Schedule of Below Market Leases

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

	June 30, 2025
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,662	$	(29,712)	$	16,950
Leasing commissions	6,224		(2,528)		3,696
Above-market lease intangibles	1,951		(630)		1,321
Total intangible assets, net	$	54,837	$	(32,870)	$	21,967
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	7,671	$	(2,388)	$	5,283
Total intangible liabilities, net	$	7,671	$	(2,388)	$	5,283

	December 31, 2024
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	45,510	$	(26,021)	$	19,489
Leasing commissions	6,166		(2,121)		4,045
Above-market lease intangibles	1,951		(542)		1,409
Total intangible assets, net	$	53,627	$	(28,684)	$	24,943
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	7,230	$	(1,433)	$	5,797
Total intangible liabilities, net	$	7,230	$	(1,433)	$	5,797

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, 2025 is:

in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2025 (remainder)	$	2,535	$	402	$	87	$	(956)
2026	4,394		732		175		(1,683)
2027	3,240		645		175		(1,542)
2028	1,765		512		175		(609)
2029	1,331		371		164		(398)
2030	949		289		94		(50)
Thereafter	2,736		745		451		(45)
	$	16,950	$	3,696	$	1,321	$	(5,283)

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, 2025 is:

in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2025 (remainder)	$	2,535	$	402	$	87	$	(956)
2026	4,394		732		175		(1,683)
2027	3,240		645		175		(1,542)
2028	1,765		512		175		(609)
2029	1,331		371		164		(398)
2030	949		289		94		(50)
Thereafter	2,736		745		451		(45)
	$	16,950	$	3,696	$	1,321	$	(5,283)