Intangible Assets and Below Market Lease Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Total Intangible Assets and Below Market Lease Liabilities

The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

	June 30, 2024		December 31, 2023
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)	$	400,927	$	401,621
Less accumulated amortization	(183,154)		(175,697)
	$	217,773	$	225,924
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities	$	50,704	$	50,842
Less accumulated amortization	(32,551)		(30,416)
	$	18,153	$	20,426

Amortization of Intangible Assets and Below Market Lease Liabilities

The following table sets forth amortization of intangible assets and below market lease liabilities:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)	$	9,984	$	11,481	$	19,629	$	21,713
Amortization of lease incentives (in rental and other revenues)	$	550	$	614	$	1,243	$	1,328
Amortization of acquisition-related intangible assets (in rental and other revenues)	$	794	$	869	$	1,596	$	1,700
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)	$	(1,130)	$	(1,280)	$	(2,274)	$	(2,534)

Scheduled Future Amortization of Intangible Assets and Below Market Lease Liabilities

The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

	Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)		Amortization of Lease Incentives (in Rental and Other Revenues)		Amortization of Acquisition-Related Intangible Assets (in Rental and Other Revenues)		Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
July 1 through December 31, 2024	$	20,053	$	1,206	$	1,470	$	(1,967)
2025	33,440		2,094		2,210		(2,727)
2026	29,022		1,892		1,861		(2,431)
2027	25,284		1,686		1,520		(2,062)
2028	21,329		1,458		1,404		(1,648)
Thereafter	63,054		4,603		4,187		(7,318)
	$	192,182	$	12,939	$	12,652	$	(18,153)
Weighted average remaining amortization periods as of June 30, 2024 (in years)	7.3		7.8		6.9		8.1