Tenant Leases

Space in the Company’s shopping centers is leased to various tenants under operating leases that usually grant tenants renewal options and generally provide for additional rents based on certain operating expenses as well as tenants’ sales volume.

Future minimum rents to be received under non-cancellable leases as of June 30, 2017 are summarized as follows (in thousands):



	Minimum Rents
Remaining 2017	$	89,821
2018	165,561
2019	143,713
2020	123,052
2021	101,856
Thereafter	430,718
Total minimum lease payments	$	1,054,721