Intangible Lease Asset/Liability

12 Months Ended

Dec. 31, 2021

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 $7.8 million and $8.9 million at December 31, 2021 and December 31, 2020, respectively. Unamortized intangible lease assets that relate to above-market leases amounted to $0.1 million and $0.2 million at December 31, 2021 and December 31, 2020, respectively.

The unamortized balance of intangible lease liabilities at December 31, 2021 is net of accumulated amortization of $38.2 million, and will be credited to future operations as follows:

2022	$	1,049,000
2023		990,000
2024		600,000
2025		578,000
2026		537,000
Thereafter		4,035,000
	$	7,789,000