v3.26.1
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
12 Months Ended
Dec. 31, 2025
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]  
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW
MARKET LEASE LIABILITIES
As of December 31, 2025 and 2024, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):
 Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
 December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024
Cost$22,309 $24,431 $873 $873 $(2,809)$(4,679)
Accumulated Amortization(18,340)(18,617)(821)(753)2,579 4,135 
Net Amount$3,969 $5,814 $52 $120 $(230)$(544)


Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the years ended December 31, 2025, 2024 and 2023 were as follows (in thousands):
 Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
For the Years Ended December 31,For the Years Ended December 31,For the Years Ended December 31,
202520242023202520242023202520242023
Amortization$(2,132)$(2,751)$(3,907)$(68)$(69)$(73)$314 $525 $842 


The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2025 is estimated to be amortized for the years ending December 31 as follows (in thousands):
Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
2026$(1,647)$(52)$198 
2027(1,033)— 32 
2028(910)— — 
2029(379)— — 
2030— — — 
Thereafter— — — 
$(3,969)$(52)$230 
Weighted-Average Remaining Amortization Period2.9 years0.8 years1.0 year