Leases

3 Months Ended

Mar. 31, 2019

Lessee Disclosures

Operating lease cost and cash flow for the Company's operating leases for the three months ended March 31, 2019 and 2018 were as follows (in thousands):



	Three Months Ended March 31, 2019
	(Unaudited)
Operating lease cost	$	563
Cash paid for amounts included in the measurement of lease liabilities (operating cash flow)	500

Additional information related to leases as of March 31, 2019 and December 31, 2018 were as follows (in thousands):



	March 31, 2019
	(Unaudited)
Operating Leases
Lease right-of-use assets	$	32,242
Lease liabilities	41,697

Weighted Average Remaining Lease Term (years)
Operating leases	45.90
Weighted Average Discount Rate
Operating leases	5.4		%

Maturities of lease liabilities as of March 31, 2019 were as follows (in thousands):



Year Ending December 31,	Operating Leases
2019 (excluding three months ended March 31, 2019)	$	1,580
2020	2,287
2021	2,296
2022	2,361
2023	2,400
Thereafter	105,961
Total lease liabilities	$	116,885
Less imputed interest	(75,188		)
Present value of lease liabilities	$	41,697

Lessor Disclosures

Rental revenue for the three months ended March 31, 2019 and 2018 comprised the following (in thousands):



	Three Months Ended March 31, 2019
	(Unaudited)
Base rent and tenant charges	$	29,925
Accrued straight-line rental adjustment	961
Lease incentive amortization	(184		)
Above/below market lease amortization	207
Total rental revenue	$	30,909

The Company's commercial tenant leases provide for minimum rental payments during each of the next five years and thereafter as follows (in thousands):



Year Ending December 31,	Operating Leases
2019 (excluding three months ended March 31, 2019)	$	82,018
2020	76,045
2021	69,142
2022	62,498
2023	54,208
Thereafter	255,791
Total	$	599,702

Leases