Acquisitions (Tables)

3 Months Ended

Mar. 31, 2024

Business Combinations [Abstract]

Schedule of Company Acquired Shopping Centers

During the three months ended March 31, 2024, the Company acquired the following convenience centers (in thousands):

Asset	Location	Date Acquired	Gross Purchase Price
Grove at Harper's Preserve	Conroe, Texas	February 2024	$	10,650
Shops at Gilbert Crossroads	Gilbert, Arizona	March 2024		8,460
			$	19,110

Schedule of Acquisition Cost of Shopping Centers

The fair value of the acquisitions was allocated as follows (in thousands):

				Weighted-Average Amortization Period (in Years)
Land	$	4,523		N/A
Buildings		11,760		(A)
Tenant improvements		573		(A)
In-place leases (including lease origination costs and fair market value of leases)		1,816		9.4
		18,672
Less: Below-market leases		(381	)	16.1
Less: Other liabilities assumed		(226	)	N/A
Net assets acquired	$	18,065

(A)Depreciated in accordance with the Company’s policy.