Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Future Minimum Base Rental Payments due to be Received Under Remaining Non-Cancelable Term of Operating Leases

Scheduled future minimum base rental payments due to be received under the remaining non-cancelable term of the operating leases in place as of December 31, 2022 were as follows:

(in thousands)	Future Minimum Base Rental Receipts
2023	$	295,823
2024	298,360
2025	298,352
2026	300,847
2027	300,685
Thereafter	3,129,043
Total	$	4,623,110

Schedule of Components of Fixed and Variable Lease Revenues

The Company recorded the following amounts as contingent rent, which are included as a component of rental revenue in the Company's consolidated statements of operations, during the periods presented:

	Year ended December 31,
(in thousands)	2022		2021		2020
Contingent rent	$	682	$	721	$	444

The Company recorded the following amounts as increases to or reductions of rental revenue for tenant credit during the periods presented:

	Year ended December 31,
(in thousands)	2022			2021		2020
Adjustment to rental revenue for tenant credit	$	(371)	-371000	$	2,900	$	(7,149)

The fixed and variable components of lease revenues for the years ended December 31, 2022, 2021, and 2020 were as follows:

	Year ended December 31,
(in thousands)	2022		2021		2020
Fixed lease revenues	$	270,694	$	210,441	$	165,171
Variable lease revenues (1)	1,632		1,708		1,341
Total lease revenues (2)	$	272,326	$	212,149	$	166,512

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(1)Includes contingent rent based on a percentage of the tenant’s gross sales and costs paid by the Company for which it is reimbursed by its tenants.

(2)Excludes the amortization and accretion of above- and below-market lease intangible assets and liabilities and lease incentives and the adjustment to rental revenue for tenant credit.

Schedule of Information Related to Measurement of Lease Liabilities

The following table sets forth information related to the measurement of the Company's lease liabilities as of the dates presented:

	December 31, 2022	December 31, 2021
Weighted average remaining lease term (in years)	22.9	21.5
Weighted average discount rate	6.09%	6.08%

Schedule of Rent Expense

The following table sets forth the details of rent expense for the years ended December 31, 2022, 2021 and 2020:

	Year ended December 31,
(in thousands)	2022		2021		2020
Fixed rent expense - Ground Rent	$	981	$	957	$	905
Fixed rent expense - Office Rent	511		510		512
Variable rent expense	—		—		—
Total rent expense	$	1,492	$	1,467	$	1,418

Schedule of Future Lease Payments due from Company Under Ground, Office and Equipment Operating Leases (ASC 842)

As of December 31, 2022, future lease payments due from the Company under the ground, office and equipment operating leases where the Company is directly responsible for payment and the future lease payments due under the ground operating leases where the Company's tenants are directly responsible for payment over the next five years and thereafter were as follows:

(in thousands)	Office and Equipment Leases		Ground Leases to be Paid by the Company		Ground Leases to be Paid Directly by the Company’s Tenants		Total Future Minimum Base Rental Payments
2023	$	525	$	135	$	773	$	1,433
2024	531		28		728		1,287
2025	538		—		653		1,191
2026	—		—		658		658
2027	—		—		671		671
Thereafter	—		—		15,453		15,453
Total	$	1,594	$	163	$	18,936	20,693
Present value discount							(11,714)
Lease liabilities							$	8,979