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Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Components of leasing revenue | The following table summarizes the components of leasing revenue for the three and nine months ended September 30, 2019 and 2018:
| For the Three Months Ended September 30, |  |  |  | For the Nine Months Ended September 30, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018
Leasing revenue - fixed payments | $ | 159,356 |  |  | $ | 164,351 |  |  | $ | 482,194 |  |  | $ | 494,096 |
Leasing revenue - variable payments | 54,904 |  |  | 59,900 |  |  | 154,096 |  |  | 165,281 |
| $ | 214,260 |  |  | $ | 224,251 |  |  | $ | 636,290 |  |  | $ | 659,377 |
Summary of minimum rental payments | The following table summarizes the future minimum rental payments to the Company:
Twelve months ending September 30, |  |
2020 |  | $ | 490,897 |
2021 |  | 414,722 |
2022 |  | 363,264 |
2023 |  | 313,166 |
2024 |  | 255,316 |
Thereafter |  | 753,888 |
|  | $ | 2,591,253 |
Summary of lease costs | The following table summarizes the lease costs for the three and nine months ended September 30, 2019:
| Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019
Operating lease costs | $ | 3,466 |  |  | $ | 12,675 |
Finance lease costs: |  |  |
Amortization of ROU assets | 475 |  |  | 1,407 |
Interest on lease liabilities | 145 |  |  | 453 |
| $ | 4,086 |  |  | $ | 14,535 |
Summarizes of minimum future rental payments required | The following table summarizes the future minimum rental payments required under the leases:
|  | September 30, 2019 |  |  |  | December 31, 2018 |  |
Year ending |  | Operating Leases |  |  | Finance Leases |  |  | Operating Leases |  |  | Finance Leases |
2019 |  | $ | 4,521 |  |  | $ | 505 |  |  | $ | 16,627 |  |  | $ | 2,106 |
2020 |  | 17,149 |  |  | 2,106 |  |  | 17,183 |  |  | 2,106 |
2021 |  | 17,004 |  |  | 10,440 |  |  | 17,124 |  |  | 10,440 |
2022 |  | 16,867 |  |  | 2,418 |  |  | 17,450 |  |  | 2,418 |
2023 |  | 11,055 |  |  | — |  |  | 11,390 |  |  | — |
Thereafter |  | 140,415 |  |  | — |  |  | 140,562 |  |  | — |
Total undiscounted rental payments |  | 207,011 |  |  | 15,469 |  |  | $ | 220,336 |  |  | $ | 17,070 |
Less imputed interest |  | (104,124) |  |  | (1,673) |  |  |  |  |
Total lease liabilities |  | $ | 102,887 |  |  | $ | 13,796 |  |  |  |  |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=119202524&loc=SL77919396-209981 + Details
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- Definition Tabular disclosure of components of income from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119202524&loc=SL77919372-209981 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 6A -URI http://asc.fasb.org/extlink&oid=118952077&loc=SL77927221-108306 + Details
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