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Leases (Tables) | 6 Months Ended
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Jun. 30, 2025
Leases [Abstract] |
Schedule of Rental Revenue, Disaggregated into Fixed and Variable Lease Income | The following table presents the components of rental revenue, disaggregated into fixed and variable lease income (in thousands):
| Three Months Ended June 30, |  |  | Six Months Ended June 30, |
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Fixed lease revenue | $ | 78,871 |  |  | $ | 69,366 |  |  | $ | 163,074 |  |  | $ | 138,023 |
Variable lease revenue |  | 19,426 |  |  |  | 16,260 |  |  |  | 37,863 |  |  |  | 33,640 |
Total rental revenue | $ | 98,297 |  |  | $ | 85,626 |  |  | $ | 200,937 |  |  | $ | 171,663 |
Schedule of Future Minimum Rental Revenues | The following table summarizes the Company’s scheduled future minimum rental revenues under non-cancelable tenant leases with remaining terms greater than one year, as of June 30, 2025. These amounts assume no new or renegotiated leases or exercise of renewal options not deemed reasonably certain (in thousands):
Year Ending December 31, |  | Minimum Rental Revenues |
2025 (Remainder) |  | $ | 139,061 |
2026 |  |  | 285,942 |
2027 |  |  | 265,003 |
2028 |  |  | 233,296 |
2029 |  |  | 195,453 |
Thereafter |  |  | 727,877 |
Total |  | $ | 1,846,632 |
Schedule of Future Minimum Rental Payments for Operating and Capital Leases |
|  | Minimum Rental Payments |
Year Ending December 31, |  | Operating Leases (a) |  |  | Finance Leases (a) |
2025 (Remainder) |  | $ | 2,670 |  |  | $ | 671 |
2026 |  |  | 5,637 |  |  |  | 1,350 |
2027 |  |  | 4,850 |  |  |  | 1,350 |
2028 |  |  | 4,646 |  |  |  | 1,396 |
2029 |  |  | 4,121 |  |  |  | 1,415 |
Thereafter |  |  | 13,065 |  |  |  | 155,318 |
|  |  | 34,989 |  |  |  | 161,500 |
Interest |  |  | (7,009 | ) |  |  | (129,749 | )
Total |  | $ | 27,980 |  |  | $ | 31,751 |
(a) Minimum rental payments include $7.0 million of interest related to operating leases and $129.7 million related to finance leases. These amounts exclude lease renewal options that not reasonably certain to be exercised.
Schedule of Lease Cost | The following table summarizes additional lease cost information for the Company’s lessee arrangements (dollars in thousands):
| Three Months Ended June 30, |  |  | Six Months Ended June 30,
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |
Lease Cost |  |  |  |  |  |  |  |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets | $ | 373 |  |  | $ | 354 |  |  | $ | 747 |  |  | $ | 603 |  |
Interest on lease liabilities |  | 513 |  |  |  | 512 |  |  |  | 1,025 |  |  |  | 1,034 |  |
Subtotal |  | 886 |  |  |  | 866 |  |  |  | 1,772 |  |  |  | 1,637 |  |
Operating lease cost |  | 1,409 |  |  |  | 1,303 |  |  |  | 2,715 |  |  |  | 2,635 |  |
Variable lease cost |  | 105 |  |  |  | 69 |  |  |  | 194 |  |  |  | 144 |  |
Total lease cost | $ | 2,400 |  |  | $ | 2,238 |  |  | $ | 4,681 |  |  | $ | 4,416 |  |
Cash Paid |  |  |  |  |  |  |  |  |  |  |  |
Payments of operating lease obligations - operating activities | $ | 1,366 |  |  | $ | 1,360 |  |  | $ | 2,731 |  |  | $ | 2,715 |  |
Payments of interest on finance lease obligations - operating activities |  | 513 |  |  |  | 512 |  |  |  | 1,025 |  |  |  | 1,034 |  |
Payments of finance lease obligations - financing activities |  | 132 |  |  |  | 47 |  |  |  | 378 |  |  |  | 89 |  |
|  | As of June 30, |
|  | 2025 |  |  | 2024 |
Other Information |  |  |  |  |  |
Weighted-average remaining lease term - finance leases (years) |  |  | 56.5 |  |  |  | 58.1 |
Weighted-average remaining lease term - operating leases (years) |  |  | 8.3 |  |  |  | 9.4 |
Weighted-average discount rate - finance leases |  |  | 6.5 | % |  |  | 6.5 | %
Weighted-average discount rate - operating leases |  |  | 5.1 | % |  |  | 5.1 | %

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + 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 -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
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