Future Minimum Lease Receipts

3 Months Ended

Mar. 31, 2013

Operating Leases, Future Minimum Payments Receivable [Abstract]

We lease space to tenants primarily under non-cancelable operating leases that generally contain provisions for a base rent plus reimbursement for certain operating expenses. Operating expense reimbursements are reflected in our consolidated statements of operations as tenant recoveries.

We also lease space to certain tenants under non-cancelable leases that provide for percentage rents based upon tenant revenues. Percentage rental income for the three months ended March 31, 2013 and 2012 totaled $166 thousand and $175 thousand, respectively.

Future minimum base rentals on our non-cancelable office and ground operating leases at March 31, 2013 were as follows (in thousands):



Three months ending March 31:
2014	$	356,059
2015	311,422
2016	261,774
2017	211,515
2018	167,815
Thereafter	428,541
Total future minimum base rentals	$	1,737,126

The above future minimum lease receipts exclude residential leases, which typically have a term of one year or less, as well as tenant reimbursements, amortization of deferred rent receivables and above/below-market lease intangibles. Some leases are subject to termination options, generally upon payment of a termination fee. The preceding table assumes that these options are not exercised.

- Definition

The entire disclosure for operating leases of a lessor. This may inlcude a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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