Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease Income
The components of rental revenue from the Company’s operating leases during the periods indicated below were as follows (in thousands):
Year Ended December 31,
2024 2023 2022
Fixed:
Cash rental revenue $ 117,953  $ 141,471  $ 156,505 
Straight-line rental revenue (210) 5,649  (769)
Lease intangible amortization 637  894  1,091 
Fixed property operating cost reimbursements 5,881  5,956  5,566 
Other fixed rental revenue 1,128  865  5,271 
Total fixed 125,389  154,835  167,664 
Variable:
Variable property operating cost reimbursements 35,897  36,010  36,624 
Other variable rental revenue 2,769  3,396  3,065 
Total variable 38,666  39,406  39,689 
Total rental revenue $ 164,055  $ 194,241  $ 207,353 
Schedule of Operating Lease Payments to be Received
The following table presents future minimum base rent payments due to the Company under the terms of its operating lease agreements, excluding expense reimbursements, over the next five years and thereafter as of December 31, 2024 (in thousands).
Future Minimum
Base Rent Payments
2025
 $ 89,434 
2026 88,837 
2027 69,613 
2028 57,420 
2029 43,862 
Thereafter 236,311 
Total $ 585,477 
Schedule of Operating Lease Liability, Maturity
The following table reflects the maturity analysis of payments due from the Company over the next five years and thereafter for ground and corporate office lease obligations as of December 31, 2024 (in thousands).
Future Minimum Lease Payments
2025
 $ 1,184 
2026 778 
2027 752 
2028 761 
2029 473 
Thereafter 12,044 
Total 15,992 
Less: imputed interest 5,550 
Total $ 10,442