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Future Minimum Lease Payments
 9 Months Ended
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, 
2018201720182017
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.