Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.26.1
Leases (Tables)
 6 Months Ended
Jun. 30, 2026
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):
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
Fixed:
Cash rental revenue $ 22,534  $ 22,890  $ 49,045  $ 46,532 
Straight-line rental revenue 2,998  2,519  1,168  6,150 
Lease intangible amortization 91  206  241  456 
Fixed property operating cost reimbursements 1,711  1,519  3,370  3,028 
Other fixed rental revenue 143  792  2,043  1,495 
Total fixed 27,477  27,926  55,867  57,661 
Variable:
Variable property operating cost reimbursements 6,021  8,580  13,229  16,040 
Other variable rental revenue 600  596  1,136  1,198 
Total variable 6,621  9,176  14,365  17,238 
Total rental revenue $ 34,098  $ 37,102  $ 70,232  $ 74,899 
Schedule of Future Minimum Base Rent Payments
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 June 30, 2026 (in thousands).
Future Minimum
Base Rent Payments
July 1, 2026 - December 31, 2026
 $ 42,471 
2027 83,362 
2028 76,381 
2029 61,975 
2030 60,195 
2031 55,444 
Thereafter 290,110 
Total $ 669,938 
Schedule of Maturity Analysis of Payments Due
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 June 30, 2026 (in thousands).
Future Minimum Lease Payments
July 1, 2026 - December 31, 2026
 $ 467 
2027 1,239 
2028 1,262 
2029 990 
2030 980 
2031 715 
Thereafter 8,445 
Total 14,098 
Less: imputed interest 4,001 
Total $ 10,097