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Note 10 - Leasing Arrangements
3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Lessor, Operating Leases [Text Block]

10.

LEASING ARRANGEMENTS

 

The Company leases land primarily to agriculture operators and leases space in commercial buildings primarily to restaurant and retail tenants with terms continuing through 2048. These operating leases generally provide for minimum rents for commercial properties and land assets and, in some cases, licensing fees for use of trade names, percentage rentals based on tenant revenues, and reimbursement of common area maintenance and other expenses. Certain leases allow the lessee an option to extend or terminate the agreement. There are no leases allowing a lessee an option to purchase the underlying asset. Leasing revenues subject to Accounting Standards Codification Topic 842 for the three months ended March 31, 2025 and 2024 were as follows:

 

   

Three Months Ended March 31,

(unaudited)

 
   

2025

   

2024

 
   

(in thousands)

 
                 

Minimum rentals

  $ 1,315     $ 964  

Percentage rentals

    596       605  

Licensing fees

    33       33  

Other

    294       267  

Total

  $ 2,238     $ 1,869