Intangible Assets

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

INTANGIBLE ASSETS

As of December 31, 2012 and 2011, the Company’s intangible assets were comprised of the following (in thousands):

	December 31, 2012
	Total Cost		Accumulated Amortization			Intangible Assets, net
In-place lease value	$	87,909	$	(42,894	)	$	45,015
Tenant relationship value	56,137		(37,389		)	18,748
Above market leases acquired	8,565		(1,708		)	6,857
Total	$	152,611	$	(81,991	)	$	70,620
Below market leases acquired	$	77,083	$	(43,224	)	$	33,859

	December 31, 2011
	Total Cost		Accumulated Amortization			Intangible Assets, net
In-place lease value	$	91,426	$	(55,498	)	$	35,928
Tenant relationship value	72,813		(45,114		)	27,699
Above market leases acquired	12,744		(5,856		)	6,888
Total	$	176,983	$	(106,468	)	$	70,515
Below market leases acquired	$	75,685	$	(40,579	)	$	35,106

For the years ended December 31, 2012, 2011, and 2010, the Company wrote-off through the acceleration of amortization approximately $1.4 million, $7.4 million and $1.5 million, respectively, of intangible assets as a result of tenant move-outs prior to the end of the associated lease term. For the year ended December 31, 2012, the Company accelerated amortization of a nominal amount of intangible liabilities as a result of tenant move-outs. For the year ended December 31, 2011, the Company accelerated amortization of $0.2 million of intangible liabilities as a result of tenant move-outs. For the year ended December 31, 2010, the Company accelerated amortization of a nominal amount of intangible liabilities as a result of tenant move-outs.

As of December 31, 2012, the Company’s annual amortization for its intangible assets/liabilities were as follows (in thousands, and assuming no early lease terminations):

	Assets		Liabilities
2013	$	15,316	$	7,639
2014	12,399		6,087
2015	10,027		3,920
2016	6,009		1,980
2017	4,743		1,445
Thereafter	22,126		12,788
Total	$	70,620	$	33,859