Acquired Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Net Accumulated Amortization and Accretion

The Company had the following acquired lease intangibles, net of accumulated amortization and accretion, at December 31, 2012 and 2011, respectively (in thousands):



		2012	2011
In-place leases, net	$	31,314	21,900
Above-market leases, net		9,440	3,427
Above-market ground leases, net		1,705	1,727
Acquired lease intangible assets, net	$	42,459	27,054

Acquired lease intangible liabilities, net	$	20,325	12,662

The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles for the years ended December 31, 2012, 2011, and 2010:



		2012		2011		2010	Remaining Weighted Average Amortization/Accretion Period
		(in thousands)		(in thousands)		(in thousands)	(in years)
In-place lease amortization	$	4,307	$	3,436	$	2,317	6.70
Above-market lease amortization ⁽¹⁾		739		319		108	9.70
Above-market ground lease amortization ⁽¹⁾		23		17		1	84.50
Acquired lease intangible asset amortization	$	5,069	$	3,772	$	2,426

Acquired lease intangible liability accretion ⁽²⁾	$	1,950	$	1,375	$	1,303	9.91

⁽¹⁾ Amounts are recorded as a reduction to minimum rent.

⁽²⁾ Amounts are recorded as an increase to minimum rent.

Schedule of Future Amortization Expense and Minimum Rent

The estimated aggregate amortization and net accretion amounts from acquired lease intangibles for the next five years are as follows (in thousands):



Year Ending December 31,	Amortization Expense		Net Accretion
2013	$	6,607	2,035
2014	5,076		1,588
2015	3,999		947
2016	3,238		675
2017	2,441		672