Future Minimum Lease Payments

9 Months Ended

Sep. 30, 2017

Future Minimum Lease Payments [Abstract]

Contingent rental expense is recorded in the period in which the contingent event becomes probable. The Company recognized rent for ground leases and a corporate office lease as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Contingent rental expense	$	2,191	$	1,970	$	6,025	$	6,417
Minimum rental expense	2,952		3,070		9,203		10,064

The following table provides information regarding the Company’s future minimum lease payments for its ground leases (before the impact of extension options, if applicable) as of September 30, 2017:



Year	Ground Leases ⁽¹⁾
Remaining 2017	$	3,359
2018	14,115
2019	14,165
2020	14,165
2021	14,165
Thereafter	396,307
Total	$	456,276

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(1)	In situations where ground lease obligation adjustments are based on third-party appraisals of fair market land value, CPI adjustments and/or percentage of gross income that exceeds the minimum annual rent, the future minimum lease amounts above include the lease rental obligations in effect as of September 30, 2017.