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Intangible Assets and Below Market Leaes Liabilities
12 Months Ended
Dec. 31, 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:
December 31,
20252024
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)
$414,230 $380,279 
Less accumulated amortization(169,972)(170,312)
$244,258 $209,967 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$32,628 $37,482 
Less accumulated amortization(17,102)(21,296)
$15,526 $16,186 

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

Year Ended December 31,
202520242023
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)
$37,052 $40,301 $43,511 
Amortization of lease incentives (in rental and other revenues)$2,851 $2,577 $2,816 
Amortization of acquisition-related above market lease intangible assets (in rental and other revenues)$2,470 $3,076 $3,338 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)
$(2,757)$(4,240)$(5,019)
The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

Years Ending December 31,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)
2026$38,640 $2,655 $2,447 $(2,607)
202734,194 2,439 1,971 (2,238)
202830,050 2,238 1,814 (1,825)
202927,060 1,947 1,682 (1,554)
203023,864 1,635 1,417 (1,550)
Thereafter61,433 4,736 4,036 (5,752)
$215,241 $15,650 $13,367 $(15,526)
Weighted average remaining amortization periods as of December 31, 2025 (in years)7.57.67.58.1

The following table sets forth the intangible assets acquired as a result of the acquisitions of Advance Auto Parts Tower in Raleigh, the Legacy Union parking garage in Charlotte and 6HUNDRED in Charlotte in 2025:

Acquisition-Related Above Market Lease Intangible Assets (amortized in Rental and Other Revenues)Acquisition-Related Intangible Assets (amortized in Depreciation and Amortization)Acquisition-Related Below Market Lease Liabilities (amortized in Rental and Other Revenues)
Amount recorded at acquisition$4,665 $39,867 $(2,096)
Weighted average remaining amortization periods as of December 31, 2025 (in years)10.310.212.2