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Future Minimum Lease Payments | 9 Months Ended
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Sep. 30, 2018
Future Minimum Lease Payments [Abstract] |
Future Minimum Lease Payments | Future Minimum Lease Payments Contingent rental expense is recorded in the period in which the contingent event becomes probable. The following table summarizes rent expense for ground leases as follows:
| Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |  |
| 2018 |  | 2017 |  | 2018 |  | 2017
Contingent rental expense | $ | 2,149 |  | $ | 2,191 |  | $ | 7,697 |  | $ | 6,025
Minimum rental expense | $ | 4,344 |  | $ | 2,952 |  | $ | 11,817 |  | $ | 9,203
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, 2018:
Year |  | Ground Leases(1)
Remaining 2018 |  | $ | 3,967
2019 |  | 15,866
2020 |  | 15,866
2021 |  | 15,866
2022 |  | 15,866
Thereafter |  | 437,646
TOTAL |  | $ | 505,077
_________________ 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, 2018. On October 9, 2018, the Company entered into a joint venture with Allianz to purchase the Ferry Building property located in San Francisco, California. The land on which the Ferry Building is located is subject to long-term non-cancellable ground lease agreements. The future minimum lease payments are excluded from the table above. See Note 19 for details.

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 1 -URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 3 -URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
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