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Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases  
Schedule of Components of Lease Revenues

The following table summarizes the components of lease revenues (amounts in thousands):

 

   2024   2023 
   Years Ended December 31, 
   2024   2023 
Fixed lease revenues  $2,121   $1,019 
Variable lease revenues (1)   552    415 
Lease revenues (2) (3)  $2,673   $1,434 

 

 

(1)Includes reimbursements for property taxes, insurance, and common area maintenance services.
(2)Excludes lease intangible amortization of less than $0.1 million, and $0.8 million, for the years ended December 31, 2024, and 2023, respectively.
(3)Excludes straight-line rent of less than $0.1 million for the years ended December 31, 2024, and 2023, respectively.
Schedule of Minimum Future Lease Payments

The following table summarizes the minimum future contractual rents to be received (exclusive of expenses paid by tenants, and percentage of sales rents) on non-cancellable tenant operating leases as of December 31, 2024 (amounts in thousands):

 

For the year ended December 31, (1)   
2025  $5,569 
2026   3,287 
2027   1,324 
2028   1,352 
2029   1,348 
Thereafter   10,720 
Total (2)  $23,600 

 

 

(1)A majority of our operating leases have terms of between 12 and 24 months, however expiration dates range from 2025 to 2040.
(2)Excludes $0.1 million of straight-line rent and $1.2 million of lease intangible amortization.