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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 510,733 $ 280,994 $ 670,701
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,202,380 1,093,473 1,002,146
Impairment of real estate 223,068 461,114 64,969
Gain on sales of real estate (129,312) (277,037) (537,918)
Loss on early extinguishment of debt 0 0 3,317
Equity in earnings of unconsolidated real estate joint ventures (7,059) (980) (645)
Distributions of earnings from unconsolidated real estate joint ventures 2,982 3,257 3,374
Amortization of loan fees 17,130 15,486 13,549
Amortization of debt discounts 1,309 1,207 384
Amortization of acquired above- and below-market leases (85,679) (93,331) (74,346)
Deferred rent (143,329) (133,917) (118,003)
Stock compensation expense 59,634 82,858 57,740
Investment loss 53,122 195,397 331,758
Changes in operating assets and liabilities:      
Tenant receivables 1,766 (102) (273)
Deferred leasing costs (108,346) (109,339) (181,322)
Other assets (37,052) 798 (18,960)
Accounts payable, accrued expenses, and other liabilities (56,823) 110,672 77,850
Net cash provided by operating activities 1,504,524 1,630,550 1,294,321
Investing Activities      
Proceeds from sales of real estate 1,220,206 1,195,743 994,331
Additions to real estate (2,422,625) (3,418,296) (3,307,313)
Purchases of real estate (248,699) (265,750) (2,877,861)
Change in escrow deposits 3,864 (5,582) 155,968
Investments in unconsolidated real estate joint ventures (3,927) (658) (1,442)
Return of capital from unconsolidated real estate joint ventures 2,916 0 471
Additions to non-real estate investments (236,357) (189,472) (242,932)
Sales of and distributions from non-real estate investments 173,927 183,396 198,320
Net cash used in investing activities (1,510,695) (2,500,619) (5,080,458)
Financing Activities      
Borrowings under secured notes payable 29,919 59,957 49,715
Repayments of borrowings under secured notes payable (32) (30) (934)
Payment for the defeasance of secured note payable 0 0 (198,304)
Proceeds from issuances of unsecured senior notes payable 998,806 996,205 1,793,318
Borrowings under unsecured senior line of credit 0 1,245,000 1,181,000
Repayments of borrowings under unsecured senior line of credit 0 (1,245,000) (1,181,000)
Proceeds from issuances under commercial paper program 13,010,600 9,234,000 14,641,500
Repayments of borrowings under commercial paper program (13,110,600) (9,134,000) (14,911,500)
Payments of loan fees (35,871) (16,047) (35,612)
Taxes paid related to net settlement of equity awards (62,413) (24,592) (47,289)
Proceeds from issuance of common stock 27,103 103,846 2,346,444
Repurchase of common stock (50,107) 0 0
Dividends on common stock (898,557) (847,483) (757,742)
Contributions from and sales of noncontrolling interests 306,473 547,391 1,542,347
Distributions to and purchases of noncontrolling interests (308,636) (245,091) (192,171)
Net cash (used in) provided by financing activities (93,315) 674,156 4,229,772
Effect of foreign exchange rate changes on cash and cash equivalents (1,438) (1,291) (887)
Net (decrease) increase in cash, cash equivalents, and restricted cash (100,924) (197,204) 442,748
Cash, cash equivalents, and restricted cash as of the beginning of period 660,771 857,975 415,227
Cash, cash equivalents, and restricted cash as of the end of period 559,847 660,771 857,975
Supplemental Disclosure and Non-Cash Investing and Financing Activities:      
Cash paid during the period for interest, net of interest capitalized 160,082 46,583 63,193
Accrued construction for current-period additions to real estate 465,611 629,351 561,538
Contribution of assets from and issuance of noncontrolling interest to real estate joint venture partner 106,941 33,250 19,146
Transfer of real estate assets and/or equipment from tenants 129,154 31,310 0
Reallocation of additional paid-in-capital to consolidated joint venture partner’s non-controlling interest 30,185 0 0
Notes Issued 104,166 0 0
Initial recognition of right-of-use asset and lease liability 265,203 0 21,776
Payable for purchase of noncontrolling interest $ 0 $ (35,250) $ 0