LEASE REVENUE

6 Months Ended

Jun. 30, 2023

Lease Revenue [Abstract]

Operating Lease, Lease Income [Text Block]

LEASE REVENUE

The Company’s primary revenue is rental income from business distribution space. The table below presents the components of Income from real estate operations for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30,			Six Months Ended June 30,
	2023		2022	2023	2022
	(In thousands)
Lease income — operating leases	$	104,150	88,931	204,846	173,876
Variable lease income (1)	34,661		29,567	67,929	57,574
Income from real estate operations	$	138,811	118,498	272,775	231,450

(1)Primarily includes tenant reimbursements for real estate taxes, insurance and common area maintenance.