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Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets
As of December 31, 2014 and 2013, the Company’s intangible assets were comprised of the following (in thousands):
 
December 31, 2014
 
Total Cost
 
Accumulated
Amortization
 
Intangible Assets,
net
In-place lease value
$
129,411

 
$
(42,068
)
 
$
87,343

Tenant relationship value
34,172

 
(26,344
)
 
7,828

Above market leases acquired
5,641

 
(1,409
)
 
4,232

Total
$
169,224

 
$
(69,821
)
 
$
99,403

 
 
 
 
 
 
Below market leases acquired
$
53,049

 
$
(27,039
)
 
$
26,010

 
December 31, 2013
 
Total Cost
 
Accumulated
Amortization
 
Intangible Assets,
net
In-place lease value
$
150,782

 
$
(35,607
)
 
$
115,175

Tenant relationship value
38,692

 
(26,868
)
 
11,824

Above market leases acquired
6,673

 
(1,343
)
 
5,330

Total
$
196,147

 
$
(63,818
)
 
$
132,329

 
 
 
 
 
 
Below market leases acquired
$
81,991

 
$
(47,547
)
 
$
34,444
Annual amortization of intangible assets and liabilities
As of December 31, 2014, the Company’s annual amortization for its intangible assets/liabilities was as follows (in thousands, and assuming no early lease terminations):
 
Assets
 
Liabilities
2015
$
21,363

 
$
5,212

2016
16,898

 
3,253

2017
15,148

 
2,664

2018
11,399

 
2,241

2019
10,086

 
1,909

Thereafter
24,509

 
10,731

Total
$
99,403

 
$
26,010