Intangible Lease Asset/Liability

12 Months Ended

Dec. 31, 2019

Intangible Lease Asset Liability [Abstract]

Intangible Lease Asset/Liability

Note 9. Intangible Lease Asset/Liability

Unamortized intangible lease liabilities that relate to below-market leases amounted to $10.5 million and $13.2 million at December 31, 2019 and December 31, 2018, respectively. Unamortized intangible lease assets that relate to above-market leases amounted to $0.4 million and $0.6 million at December 31, 2019 and December 31, 2018, respectively.

The unamortized balance of intangible lease liabilities at December 31, 2019 is net of accumulated amortization of $39.6 million, and will be credited to future operations as follows:

2020	$	1,300,000
2021		936,000
2022		874,000
2023		846,000
2024		783,000
Thereafter		5,734,000
	$	10,473,000