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 September 30, 2017 are summarized as follows (in thousands):



	Minimum Rents
Remaining 2017	$	45,829
2018	174,754
2019	153,999
2020	133,369
2021	112,106
Thereafter	486,397
Total minimum lease payments	$	1,106,454