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Future Minimum Rents and Lease Payments (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Future Minimum Base Rents Receivable
The following table summarizes the future minimum base rents (excluding tenant reimbursements for operating expenses and termination fees related to tenants exercising early termination options) for properties as of December 31, 2024:
Year Ended

2025$508,871 
2026466,138 
2027409,955 
2028341,630 
2029276,778 
Thereafter583,574 
TOTAL
$2,586,946 
Schedule of Future Minimum Lease Payments Due
The following table provides information regarding the Company’s future minimum lease payments for its operating leases (including the impact of the extension options which the Company is reasonably certain to exercise) as of December 31, 2024:
For the Year Ended December 31,
Lease Payments(1)
2025$42,072 
202641,726 
202741,449 
202840,503 
202938,385 
Thereafter508,413 
Total operating lease payments712,548 
Less: interest portion(316,717)
PRESENT VALUE OF OPERATING LEASE LIABILITIES(2)
$395,831 
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1.Future minimum lease payments for operating leases denominated in a foreign currency are translated to U.S. dollars using the exchange rate in effect as of the financial statement date.
2.$380.0 million is recorded in operating lease liabilities and $15.8 million is recorded in liabilities associated with real estate held for sale on the Consolidated Balance Sheet.
Schedule of Rental Expense
The following table summarizes rental expense for operating leases:
For the Year Ended December 31,
202420232022
Variable rental expense$9,985 $11,005 $9,854 
Minimum rental expense$46,576 $45,145 $31,003