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Leases (Tables) | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Operating Lease, Lease Income | The following table presents the Company’s classification of rental revenue for its operating leases for the year ended December 31, 2021 and 2020:
Classification | December 31, 2021 |  | December 31, 2020
Fixed | $ | 287,552 |  |  | $ | 293,457 |
Variable(1)(2) | 52,392 |  |  | 32,354 |
Total | $ | 339,944 |  |  | $ | 325,811 |
(1) Primarily comprised of tenant reimbursements. (2) Variable lease payments contain termination revenue of $15,371 and $857 for the year ending December 31, 2021 and 2020, respectively. The 2021 termination fee revenue primarily related to a tenant that terminated its lease at the Company's Durham, New Hampshire industrial property.
Lessor, Operating Lease, Payments to be Received, Maturity | Future fixed rental receipts for leases, assuming no new or re-negotiated leases as of December 31, 2021 were as follows:
Year ending December 31, | Total
2022 | $ | 254,733 |
2023 | 258,475 |
2024 | 228,697 |
2025 | 208,404 |
2026 | 189,243 |
Thereafter | 710,938 |
Total | $ | 1,850,490 |
Lease, Cost | Supplemental information related to operating leases is as follows:
|  | The Year Ended
|  | December 31, 2021 |  | December 31, 2020
Weighted-average remaining lease term |  |  |
Operating leases (years) | 9.7 |  | 11.7
Weighted-average discount rate |  |  |
Operating leases | 4.0 | % |  | 4.1 | %
The components of lease expense for the year ended December 31, 2021 and 2020 were as follows:
Income Statement Classification | Fixed |  | Variable |  | Total
2021: |  |  |  |  |
Property operating | $ | 3,645 |  |  | $ | 3 |  |  | $ | 3,648 |
General and administrative | 1,380 |  |  | 70 |  |  | 1,450 |
Total | $ | 5,025 |  |  | $ | 73 |  |  | $ | 5,098 |
2020: |  |  |  |  |
Property operating | $ | 3,969 |  |  | $ | 2 |  |  | $ | 3,971 |
General and administrative | 1,348 |  |  | 105 |  |  | 1,453 |
Total | $ | 5,317 |  |  | $ | 107 |  |  | $ | 5,424 |
Lessee, Operating Lease, Liability, Maturity | The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2021:
Year ending December 31, |  | Operating Leases
2022 |  | $ | 5,046 |
2023 |  | 5,290 |
2024 |  | 5,199 |
2025 |  | 5,204 |
2026 |  | 4,174 |
Thereafter |  | 11,174 |
Total lease payments |  | 36,087 |
Less: Imputed interest |  | (6,993) |
Present value of lease liabilities |  | $ | 29,094 |

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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=123408670&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=123408670&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=124258985&loc=SL77919396-209981 + Details
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