Note 5 - Leasing Arrangements

12 Months Ended

Dec. 31, 2017

Leasing Arrangements Disclosure [Text Block]

5 .	LEASING ARRANGEMENTS

The Company leases land primarily to agriculture operators and space in commercial buildings, primarily to

restaurant and retail tenants through

2034.

These operating leases generally provide for minimum rents and, in some cases, licensing fees and percentage rentals based on tenant revenues. In addition, the leases generally provide for reimbursement of common area maintenance and other expenses. Total rental income under these operating leases was as follows:

	2017		2016
	(in thousands)
Minimum rentals	$	2,495	$	2,458
Percentage rentals		1,255		1,172
Licensing fees		868		814
Other (primarily common area recoveries)		909		880
Total	$	5,527	$	5,324

Property at

December

31,

2017

and

2016

includes leased property of

$29.4

million and

$29.3

million, respectively (before accumulated depreciation of

$16.3

million and

$15.0

million, respectively).

Future minimum rental income receivable during the next

five

years and thereafter is as follows:

	(in thousands)
2018	$	2,333
2019		2,294
2020		2,380
2021		2,018
2022		1,386
Thereafter		2,381