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Intangibles
 12 Months Ended
Dec. 31, 2017
Intangibles  
Intangibles
Intangibles
The following table summarizes the Company’s intangible lease assets (in thousands):
 
 
December 31,
Intangible lease assets
 
2017
 
2016
Lease-up intangibles
 
$
645,143

    
$
719,788

Above market tenant lease intangibles
 
105,663

 
147,409

Below market ground lease intangibles
 
44,499

 
44,500

Gross intangible lease assets
 
795,305

 
911,697

Accumulated depreciation and amortization
 
(385,223
)
 
(431,892
)
Net intangible lease assets
 
$
410,082

 
$
479,805


The following table summarizes the Company’s intangible lease liabilities (in thousands):
 
 
December 31,
Intangible lease liabilities
 
2017
 
2016
Below market lease intangibles
 
$
123,883

 
$
161,595

Above market ground lease intangibles
 
2,329

 
2,329

Gross intangible lease liabilities
 
126,212

 
163,924

Accumulated depreciation and amortization
 
(73,633
)
 
(105,779
)
Net intangible lease liabilities
 
$
52,579

 
$
58,145


The following table sets forth amortization related to deferred leasing costs and acquisition-related intangibles for the years ended December 31, 2017, 2016 and 2015 (in thousands):
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Depreciation and amortization expense related to amortization of lease-up intangibles
 
$
76,732

 
$
84,487

 
$
74,978

Rental and related revenues related to amortization of net below market lease liabilities
 
2,030

 
3,877

 
3,781

Operating expense related to amortization of net below market ground lease intangibles
 
740

 
664

 
664




The following table summarizes the estimated annual amortization for each of the five succeeding fiscal years and thereafter (in thousands):
 
Rental and Related Revenues(1)
 
Operating Expense(2)
 
Depreciation and Amortization(3)
2018
$
4,099

 
$
763

 
$
66,651

2019
4,102

 
763

 
49,868

2020
3,418

 
759

 
40,151

2021
3,401

 
756

 
35,963

2022
4,199

 
756

 
30,490

Thereafter
17,133

 
31,782

 
135,153

 
$
36,352

 
$
35,579

 
$
358,276


_______________________________________
(1)
The amortization of net below market lease intangibles is recorded as an increase to rental and related income.
(2)
The amortization of net below market ground lease intangibles is recorded as an increase to operating expense.
(3)
The amortization of lease-up intangibles is recorded to depreciation and amortization expense.