Intangible Assets and Acquired Below-Market Leases, net

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Acquired Below-Market Leases, net

Our identifiable intangible assets and acquired below-market leases, net, are summarized as follows (in thousands):



	December 31, 2015			December 31, 2014
Acquired leasing commissions:
Gross amount	$	7,499		$	6,913
Accumulated amortization	(4,073		)	(3,783		)
Acquired leasing commissions, net	3,426			3,130

Acquired leases in place:
Gross amount	5,290			5,624
Accumulated amortization	(5,175		)	(5,500		)
Acquired leases in place, net	115			124

Acquired tenant relationship costs:
Gross amount	9,254			9,254
Accumulated amortization	(8,776		)	(8,223		)
Acquired tenant relationship costs, net	478			1,031

Acquired other intangibles:
Gross amount	3,077			3,125
Accumulated amortization	(1,108		)	(1,092		)
Acquired other intangibles, net	1,969			2,033

Intangible assets, net	$	5,988		$	6,318

Acquired below-market leases:
Gross amount	$	6,556		$	6,640
Accumulated amortization	(3,314		)	(3,166		)
Acquired below-market leases, net	$	3,242		$	3,474

As shown in the following table (in thousands), we recognized amortization of below-market leases. The amortization of below-market leases is included as an increase to “Rental revenues” in the accompanying consolidated statements of operations. Also, we recognized amortization of other intangible assets, including acquired leasing commissions, acquired leases in place, acquired tenant relationship costs and acquired other intangibles. The amortization of these intangible assets is included in “Depreciation and amortization” in the accompanying consolidated statements of operations.



	For the year ended December 31,
	2015		2014
Intangible assets amortization	$	1,561	$	1,827
Acquired below-market lease amortization	$	232	$	250

The following table summarizes the estimated net amortization of intangible assets and acquired below-market leases at December 31, 2015 for the next five years (in thousands):



	2016		2017		2018		2019		2020		Thereafter		Total		Weighted Average Amort. Period (Years)
Leasing commissions	$	902	$	789	$	529	$	405	$	271	$	530	$	3,426	3.3
Leases in place	8		8		8		8		8		75		115		7.5
Tenant relationship costs	281		112		24		13		3		45		478		2.5
Other intangibles	65		65		65		65		65		1,644		1,969		15.8
Intangible assets, net	$	1,256	$	974	$	626	$	491	$	347	$	2,294	$	5,988

Acquired below-market leases	$	232	$	232	$	232	$	232	$	232	$	2,082	$	3,242	7.5