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Intangible Assets and Below Market Lease Liabilities
9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Below Market Lease Liabilities 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:

September 30,
2025
December 31,
2024
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$390,854 $380,279 
Less accumulated amortization(165,547)(170,312)
$225,307 $209,967 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$30,532 $37,482 
Less accumulated amortization(16,424)(21,296)
$14,108 $16,186 
The following table sets forth amortization of intangible assets and below market lease liabilities:

Three Months Ended
September 30,
Nine Months Ended
September 30,
2025202420252024
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$9,683 $11,370 $27,757 $30,999 
Amortization of lease incentives (in rental and other revenues)$715 $643 $2,020 $1,886 
Amortization of acquisition-related above market lease intangible assets (in rental and other revenues)$615 $768 $1,849 $2,364 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(661)$(1,110)$(2,078)$(3,384)

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 Above Market Lease Intangible Assets (in Rental and Other Revenues)Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
October 1 through December 31, 2025$9,891 $644 $583 $(647)
202636,393 2,366 2,161 (2,431)
202731,985 2,130 1,680 (2,062)
202827,917 1,918 1,544 (1,649)
202925,037 1,622 1,432 (1,377)
Thereafter69,237 5,187 3,580 (5,942)
$200,460 $13,867 $10,980 $(14,108)
Weighted average remaining amortization periods as of September 30, 2025 (in years)7.17.66.67.6

The following table sets forth the intangible assets acquired as a result of the acquisitions of Advance Auto Parts Tower in Raleigh in the first quarter of 2025 and the Legacy Union parking garage in Charlotte in the third quarter of 2025:

Acquisition-Related Above Market Lease Intangible Assets (amortized in Rental and Other Revenues)Acquisition-Related Intangible Assets (amortized in Depreciation and Amortization)
Amount recorded at acquisition$1,656 $20,208 
Weighted average remaining amortization periods as of September 30, 2025 (in years)8.08.0