Intangibles (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Intangible Asset, Goodwill and Other [Abstract] |
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| Intangible Asset, Finite-Lived |
The gross carrying amount and accumulated amortization of our intangible assets and liabilities are: | | | | | | | | | | | | | | | | | | | September 30, 2026 | | in thousands | Total Cost | | Accumulated Amortization | | Intangible Assets, net | | Intangible assets, net: | | | | | | | In-place lease intangibles | $ | 85,306 | | | $ | (42,337) | | | $ | 42,969 | | | Leasing commissions | 14,329 | | | (4,253) | | | 10,076 | | | Above-market lease intangibles | 1,951 | | | (849) | | | 1,102 | | | Total intangible assets, net | $ | 101,586 | | | $ | (47,439) | | | $ | 54,147 | | | | | | | | | Total Cost | | Accumulated Amortization | | Intangible Liabilities, net | | Intangible liabilities, net: | | | | | | | Below-market lease intangibles | $ | 19,606 | | | $ | (5,139) | | | $ | 14,467 | | | Total intangible liabilities, net | $ | 19,606 | | | $ | (5,139) | | | $ | 14,467 | |
| | | | | | | | | | | | | | | | | | | December 31, 2025 | | in thousands | Total Cost | | Accumulated Amortization | | Intangible Assets, net | | Intangible assets, net: | | | | | | | In-place lease intangibles | $ | 68,725 | | | $ | (34,418) | | | $ | 34,307 | | | Leasing commissions | 10,730 | | | (3,063) | | | 7,667 | | | Above-market lease intangibles | 1,951 | | | (718) | | | 1,233 | | | Total intangible assets, net | $ | 81,406 | | | $ | (38,199) | | | $ | 43,207 | | | | | | | | | Total Cost | | Accumulated Amortization | | Intangible Liabilities, net | | Intangible liabilities, net: | | | | | | | Below-market lease intangibles | $ | 11,875 | | | $ | (3,421) | | | $ | 8,454 | | | Total intangible liabilities, net | $ | 11,875 | | | $ | (3,421) | | | $ | 8,454 | |
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| Schedule of Below Market Leases |
The gross carrying amount and accumulated amortization of our intangible assets and liabilities are: | | | | | | | | | | | | | | | | | | | September 30, 2026 | | in thousands | Total Cost | | Accumulated Amortization | | Intangible Assets, net | | Intangible assets, net: | | | | | | | In-place lease intangibles | $ | 85,306 | | | $ | (42,337) | | | $ | 42,969 | | | Leasing commissions | 14,329 | | | (4,253) | | | 10,076 | | | Above-market lease intangibles | 1,951 | | | (849) | | | 1,102 | | | Total intangible assets, net | $ | 101,586 | | | $ | (47,439) | | | $ | 54,147 | | | | | | | | | Total Cost | | Accumulated Amortization | | Intangible Liabilities, net | | Intangible liabilities, net: | | | | | | | Below-market lease intangibles | $ | 19,606 | | | $ | (5,139) | | | $ | 14,467 | | | Total intangible liabilities, net | $ | 19,606 | | | $ | (5,139) | | | $ | 14,467 | |
| | | | | | | | | | | | | | | | | | | December 31, 2025 | | in thousands | Total Cost | | Accumulated Amortization | | Intangible Assets, net | | Intangible assets, net: | | | | | | | In-place lease intangibles | $ | 68,725 | | | $ | (34,418) | | | $ | 34,307 | | | Leasing commissions | 10,730 | | | (3,063) | | | 7,667 | | | Above-market lease intangibles | 1,951 | | | (718) | | | 1,233 | | | Total intangible assets, net | $ | 81,406 | | | $ | (38,199) | | | $ | 43,207 | | | | | | | | | Total Cost | | Accumulated Amortization | | Intangible Liabilities, net | | Intangible liabilities, net: | | | | | | | Below-market lease intangibles | $ | 11,875 | | | $ | (3,421) | | | $ | 8,454 | | | Total intangible liabilities, net | $ | 11,875 | | | $ | (3,421) | | | $ | 8,454 | |
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| Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense |
The estimated future amortization of our intangibles for each of the next five years and thereafter as of September 30, 2026 is: | | | | | | | | | | | | | | | | | | | | | | | | | in thousands | In-place Lease
Intangibles | | Leasing Commissions | | Above-market Lease Intangibles | | Below-market
Lease Intangibles | | 2026 (remainder) | $ | 2,886 | | | $ | 405 | | | $ | 45 | | | $ | (714) | | | 2027 | 9,196 | | | 1,776 | | | 175 | | | (2,797) | | | 2028 | 5,805 | | | 1,749 | | | 175 | | | (1,860) | | | 2029 | 5,310 | | | 1,259 | | | 164 | | | (1,648) | | | 2030 | 4,935 | | | 1,164 | | | 94 | | | (1,300) | | | 2031 | 6,183 | | | 1,420 | | | 94 | | | (1,238) | | | Thereafter | 8,654 | | | 2,303 | | | 355 | | | (4,910) | | | $ | 42,969 | | | $ | 10,076 | | | $ | 1,102 | | | $ | (14,467) | |
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| Schedule of Below Market Lease, Future Amortization Income |
The estimated future amortization of our intangibles for each of the next five years and thereafter as of September 30, 2026 is: | | | | | | | | | | | | | | | | | | | | | | | | | in thousands | In-place Lease
Intangibles | | Leasing Commissions | | Above-market Lease Intangibles | | Below-market
Lease Intangibles | | 2026 (remainder) | $ | 2,886 | | | $ | 405 | | | $ | 45 | | | $ | (714) | | | 2027 | 9,196 | | | 1,776 | | | 175 | | | (2,797) | | | 2028 | 5,805 | | | 1,749 | | | 175 | | | (1,860) | | | 2029 | 5,310 | | | 1,259 | | | 164 | | | (1,648) | | | 2030 | 4,935 | | | 1,164 | | | 94 | | | (1,300) | | | 2031 | 6,183 | | | 1,420 | | | 94 | | | (1,238) | | | Thereafter | 8,654 | | | 2,303 | | | 355 | | | (4,910) | | | $ | 42,969 | | | $ | 10,076 | | | $ | 1,102 | | | $ | (14,467) | |
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