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Revenues
12 Months Ended
Dec. 31, 2013
Revenues [Abstract]  
Revenues

Note 14. Revenues

 

Rents and Expense Recoveries

 

Rents for 2013, 2012 and 2011, respectively, are comprised of the following:

 

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

 

2013

 

2012

 

2011

Base rents

 

$         103,166,000 

 

$           96,897,000 

 

$           93,125,000 

Percentage rent

 

804,000 

 

1,001,000 

 

985,000 

Straight-line rents

 

1,387,000 

 

930,000 

 

1,084,000 

Amortization of intangible lease liabilities

 

4,441,000 

 

5,359,000 

 

5,731,000 

Total rents

 

$         109,798,000 

 

$         104,187,000 

 

$         100,925,000 

 

 

 

 

 

 

 

 

Annual future base rents due to be received under non-cancelable operating leases in effect at December 31, 2013 are approximately as follows (excluding those base rents applicable to properties treated as discontinued operations):

 

 

 

 

 

 

2014 

 

$           103,574,000

2015 

 

94,377,000 
2016 

 

83,577,000 
2017 

 

71,808,000 
2018 

 

62,758,000 

Thereafter

 

280,816,000 

 

 

$           696,910,000

 

 

 

 

Total future minimum rents do not include expense recoveries for real estate taxes and operating costs, or percentage rents based upon tenants’ sales volume. Such additional revenue amounts aggregated approximately $29.3 million, $26.5 million and $27.0 million for 2013, 2012 and 2011, respectively. Such amounts do not include amortization of intangible lease liabilities.

 

Other

 

Other revenues include items which, although recurring, tend to fluctuate more than rental income from period to period, such as lease termination income. Other revenue includes lease termination income (approximately $3.0 million) and fees earned from the Cedar/RioCan joint venture in 2012. The management agreement relating to the Cedar/RioCan joint venture properties terminated on January 31, 2013 (see Note 5 –“Investment in Cedar/RioCan Joint Venture”).