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LEASES (Tables) | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
Summary of Minimum Future Rentals from Noncancelable Operating Leases | As of September 30, 2025, minimum future rentals from noncancelable operating leases, before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows for the years ended December 31 (in thousands):
2025 (three months ending December 31, 2025) | $ | 57,799 |
2026 | 252,343 |
2027 | 236,610 |
2028 | 191,687 |
2029 | 131,993 |
Thereafter | 278,031 |
Total | $ | 1,148,463 |
Summary of Current Annual Payment Under Operating Leases | As of September 30, 2025, current annual payments under the operating leases are as follows for the years ended December 31 (in thousands):
2025 (three months ending December 31, 2025) | $ | 896 |  |
2026 | 3,584 |  |
2027 | 3,637 |  |
2028 | 3,746 |  |
2029 | 3,859 |  |
Thereafter | 5,991 |  |
Total lease payments | 21,713 |  |
Imputed interest | (2,220) |  |
Present value of lease liability | $ | 19,493 |  |
Summary of Lease Costs Under Operating Leases and Supplemental Cash Flow Information of Leases | Lease costs under the operating leases are as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
| 2025 |  | 2024 |  | 2025 |  | 2024 |
Operating lease cost | $ | 956 |  |  | $ | 970 |  |  | $ | 2,775 |  |  | $ | 2,756 |  |
Sublease income | (851) |  |  | (880) |  |  | (2,569) |  |  | (2,558) |  |
Total lease cost (income) | $ | 105 |  |  | $ | 90 |  |  | $ | 206 |  |  | $ | 198 |  |
Weighted-average remaining lease term - operating leases (in years) |  | 5.8 |  |  |
Weighted-average discount rate - operating leases |  | 3.19 | % |  |  |
Supplemental cash flow information and non-cash activity related to our operating leases are as follow (in thousands):
| Nine Months Ended September 30,
| 2025 |  | 2024
Operating cash flow information: |  |  |
Cash paid for amounts included in the measurement of lease liabilities | $ | 2,636 |  |  | $ | 2,559 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + 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 -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
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