Acquired Intangible Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Liabilities

The following table summarizes the Company’s identified intangible assets and liabilities as of March 31, 2026 and December 31, 2025:


		March 31, 2026				December 31, 2025
Intangible assets:
Acquired in-place lease value		$	183,305			$	183,305
Acquired above market lease value			52,640				52,640
Accumulated amortization			(198,529	)			(196,590	)
Acquired lease intangibles, net		$	37,416			$	39,355
Intangible liabilities:
Acquired below market lease value		$	79,914			$	79,914
Accumulated amortization			(49,870	)			(49,153	)
Acquired below market lease intangibles, net		$	30,044			$	30,761

Schedule of Amortization of Acquired In Place Lease Value, Above Market and Below Market Lease Values

Amortization pertaining to acquired in-place lease value, above market lease value and below market lease value is summarized below:


	Three Months Ended March 31,
	2026				2025
Amortization recorded as amortization expense:
Acquired in-place lease value	$	1,293			$	1,872
Amortization recorded as a (reduction) increase to rental income:
Acquired above market leases	$	(646	)		$	(772	)
Acquired below market leases		717				805
Net rental income increase	$	71			$	33

Schedule of Estimated Amortization of Intangible Lease Assets and Liabilities

Estimated amortization of the respective intangible lease assets and liabilities as of March 31, 2026 for each of the five succeeding years and thereafter is as follows:


		Acquired In-Place Leases				Above Market Leases				Below Market Leases
2026 (remainder of year)		$	3,644			$	1,805			$	2,131
2027			3,562				1,837				2,692
2028			2,864				1,590				2,560
2029			2,580				1,508				2,485
2030			2,007				1,435				2,269
Thereafter			9,029				5,555				17,907
Total		$	23,686			$	13,730			$	30,044