Intangibles (Tables)

9 Months Ended

Sep. 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:

	September 30, 2025
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	58,258	$	(31,614)	$	26,644
Leasing commissions	8,501		(2,759)		5,742
Above-market lease intangibles	1,951		(674)		1,277
Total intangible assets, net	$	68,710	$	(35,047)	$	33,663
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	8,227	$	(2,872)	$	5,355
Total intangible liabilities, net	$	8,227	$	(2,872)	$	5,355

	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:

	September 30, 2025
in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	58,258	$	(31,614)	$	26,644
Leasing commissions	8,501		(2,759)		5,742
Above-market lease intangibles	1,951		(674)		1,277
Total intangible assets, net	$	68,710	$	(35,047)	$	33,663
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	8,227	$	(2,872)	$	5,355
Total intangible liabilities, net	$	8,227	$	(2,872)	$	5,355

	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 September 30, 2025 is:

in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2025 (remainder)	$	3,403	$	301	$	44	$	(523)
2026	6,625		1,036		175		(1,796)
2027	4,402		938		175		(1,632)
2028	2,927		804		175		(699)
2029	2,494		665		164		(488)
2030	2,111		579		94		(140)
Thereafter	4,682		1,419		450		(77)
	$	26,644	$	5,742	$	1,277	$	(5,355)

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 September 30, 2025 is:

in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2025 (remainder)	$	3,403	$	301	$	44	$	(523)
2026	6,625		1,036		175		(1,796)
2027	4,402		938		175		(1,632)
2028	2,927		804		175		(699)
2029	2,494		665		164		(488)
2030	2,111		579		94		(140)
Thereafter	4,682		1,419		450		(77)
	$	26,644	$	5,742	$	1,277	$	(5,355)