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Revenues and Tenant Receivables | 3 Months Ended
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Mar. 31, 2025
Revenues [Abstract] |
Revenues and Tenant Receivables | Revenues and Tenant Receivables Tenant Receivables As of March 31, 2025 and December 31, 2024, the Company's allowance for uncollectible tenant receivables totaled $0.2 million and $0.3 million, respectively. At each of March 31, 2025 and December 31, 2024, there was $4.1 million in unbilled straight-line rent, which is included in "Receivables, net". Revenues Revenues are comprised of the following:
| Three months ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Base rents | $ | 5,165,000 |  |  | $ | 6,184,000 |  |  |  |  |
Expense recoveries - variable lease revenue | 1,997,000 |  |  | 2,272,000 |  |  |  |  |
Percentage rent - variable lease revenue | 91,000 |  |  | 79,000 |  |  |  |  |
Straight-line rents | 283,000 |  |  | 58,000 |  |  |  |  |
Above (below) market lease amortization, net | 45,000 |  |  | 75,000 |  |  |  |  |
Other | 23,000 |  |  | 50,000 |  |  |  |  |
| 7,604,000 |  |  | 8,718,000 |  |  |  |  |
Credit adjustments on operating lease receivables | (189,000) |  |  | 47,000 |  |  |  |  |
Total revenues | $ | 7,415,000 |  |  | $ | 8,765,000 |  |  |  |  |
The Company reviews the collectability of charges under its tenant operating leases on a regular basis, taking into consideration changes in factors such as the tenant's payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located. In the event that collectability with respect to any tenant changes, the Company recognizes an adjustment to rental income. The Company's review of collectability of charges under its operating leases includes any accrued rental revenues related to the straight-line method of reporting rental revenue.

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