Leases (Tables)

6 Months Ended

Jun. 30, 2026

The components of rental revenue from the Company’s operating leases during the periods indicated below were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Fixed:
Cash rental revenue	$	22,534	$	22,890	$	49,045	$	46,532
Straight-line rental revenue	2,998		2,519		1,168		6,150
Lease intangible amortization	91		206		241		456
Fixed property operating cost reimbursements	1,711		1,519		3,370		3,028
Other fixed rental revenue	143		792		2,043		1,495
Total fixed	27,477		27,926		55,867		57,661
Variable:
Variable property operating cost reimbursements	6,021		8,580		13,229		16,040
Other variable rental revenue	600		596		1,136		1,198
Total variable	6,621		9,176		14,365		17,238
Total rental revenue	$	34,098	$	37,102	$	70,232	$	74,899

Schedule of Future Minimum Base Rent Payments

The following table presents future minimum base rent payments due to the Company under the terms of its operating lease agreements, excluding expense reimbursements, over the next five years and thereafter as of June 30, 2026 (in thousands).


	Future Minimum Base Rent Payments
July 1, 2026 - December 31, 2026	$	42,471
2027	83,362
2028	76,381
2029	61,975
2030	60,195
2031	55,444
Thereafter	290,110
Total	$	669,938

Schedule of Maturity Analysis of Payments Due

The following table reflects the maturity analysis of payments due from the Company over the next five years and thereafter for ground and corporate office lease obligations as of June 30, 2026 (in thousands).


	Future Minimum Lease Payments
July 1, 2026 - December 31, 2026	$	467
2027	1,239
2028	1,262
2029	990
2030	980
2031	715
Thereafter	8,445
Total	14,098
Less: imputed interest	4,001
Total	$	10,097