Intangibles
 12 Months Ended
Dec. 31, 2013
Intangibles  
Intangibles

Note 4—Intangibles

 

The following is a summary of the carrying amount of intangible assets as of 2013 and 2012 (in thousands):

 

 

 

December 31, 2013

 

December 31, 2012

 

 

 

Cost

 

Accumulated
Amortization

 

Net

 

Cost

 

Accumulated
Amortization

 

Net

 

In-place leases

 

$

29,056

 

$

(8,080

)

$

20,976

 

$

12,150

 

$

(6,907

)

$

5,243

 

Above market leases

 

2,180

 

(48

)

2,132

 

—

 

—

 

—

 

Total

 

$

31,236

 

$

(8,128

)

$

23,108

 

$

12,150

 

$

(6,907

)

$

5,243

 

 

Amortization expense related to intangibles was approximately $1.3 million, $0.9 million and $1.3 million for the years 2013, 2012 and 2011, respectively.  Future amortization of the intangible assets as of December 31, 2013, is as follows (in thousands):

 

Year Ending:

 

 

 

2014

 

$

2,422

 

2015

 

2,388

 

2016

 

2,376

 

2017

 

2,199

 

2018

 

1,843

 

Thereafter

 

11,880

 

Total

 

$

23,108