Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Summary of Maturity of Fixed Lease Payments Under Our Leases

The following table summarizes the maturity of fixed lease payments under our leases as of December 31, 2024 (amounts in thousands):

	Payments due by period
	Total		2025		2026		2027		2028		2029		Thereafter
Fixed lease payments	$	2,157,284		253,667		241,166		229,336		208,931		184,217		1,039,967

Summary of Composition of Lease Revenue Recognized Between Fixed and Variable Components

The table below sets forth our composition of lease revenue recognized between fixed and variable components (amounts in thousands):

	Years Ended December 31,
	2024		2023		2022
Fixed	$	269,141	$	254,017	$	265,126
Variable		20,460		19,889		19,362
Property rental revenue		289,601		273,906		284,488

Schedule of Information about Leases for Development Properties

Information about our leases for our development properties as of December 31, 2024 are set forth in the table below:

Property Name	Location	Tenant	Property Type	Lease Term	Estimated Leased Square Feet
FDA - Atlanta	Atlanta, GA	Food and Drug Administration	L (1)	20-year		162,000
JUD - Flagstaff	Flagstaff, AZ	Judiciary of the U.S. Government	C (2)	20-year		50,777
Total						212,777

(1) L=Laboratory

(2) C=Courthouse

Schedule of Quantitative Information for Our Operating Leases

The following table provides quantitative information for our commenced operating leases for the year ended December 31, 2024, 2023 and 2022 (amounts in thousands):

	Years Ended December 31,
	2024			2023			2022
Cash flows from operating lease costs	$	770		$	620		$	624
Other Information
Weighted average remaining lease term (in years)		3.88			4.67			5.62
Weighted average discount rate		3.32	%		3.19	%		3.15	%

Schedule of Maturity of Future Minimum Lease Payments Under Our Corporate Office Leases

In addition, the maturity of future minimum lease payments under our commenced corporate office leases as of December 31, 2024 is summarized in the table below (amounts in thousands):

Year ending December 31,	Payments due by period
2025		793
2026		661
2027		368
2028		385
2029		333
Thereafter		—
Total future minimum lease payments	$	2,540
Imputed interest		(233	)
Total	$	2,307