Intangible Lease Asset/Liability

12 Months Ended

Dec. 31, 2020

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 $8.9 million and $10.5 million at December 31, 2020 and December 31, 2019, respectively. Unamortized intangible lease assets that relate to above-market leases amounted to $0.2 million and $0.4 million at December 31, 2020 and December 31, 2019, respectively.

The unamortized balance of intangible lease liabilities at December 31, 2020 is net of accumulated amortization of $32.3 million, and will be credited to future operations as follows:

2021	$	931,000
2022		865,000
2023		794,000
2024		630,000
2025		619,000
Thereafter		5,100,000
	$	8,939,000