Revenue Recognition

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

The following is a summary of revenue sources for the three and six months ended June 30, 2023 and 2022.

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Amounts in thousands)	2023		2022		2023		2022
Lease revenues	$	51,512	$	47,711	$	102,548	$	94,519
Parking revenue	1,114		1,165		2,210		2,393
Tenant services	1,047		948		1,856		2,127
Rental revenues	$	53,673	$	49,824	$	106,614	$	99,039

The components of lease revenues for the three and six months ended June 30, 2023 and 2022 are as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Amounts in thousands)	2023		2022		2023		2022
Fixed lease revenues	$	34,839	$	33,418	$	69,563	$	65,621
Variable lease revenues	16,673		14,293		32,985		28,898
Lease revenues	$	51,512	$	47,711	$	102,548	$	94,519

Bloomberg L.P. (“Bloomberg”) accounted for revenue of $59,177,000 and $55,909,000 for the six months ended June 30, 2023 and 2022, respectively, representing approximately 56% of our rental revenues in each period. No other tenant accounted for more than 10% of our rental revenues. If we were to lose Bloomberg as a tenant, or if Bloomberg were to be unable to fulfill its obligations under its lease, it would adversely affect our results of operations and financial condition. In order to assist us in our continuing assessment of Bloomberg’s creditworthiness, we receive certain confidential financial information and metrics from Bloomberg. In addition, we access and evaluate financial information regarding Bloomberg from other private sources, as well as publicly available data.