LEASE REVENUE

9 Months Ended

Sep. 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 nine months ended September 30, 2023 and 2022:

	Three Months Ended September 30,			Nine Months Ended September 30,
	2023		2022	2023	2022
	(In thousands)
Lease income — operating leases	$	106,683	93,548	311,529	267,423
Variable lease income (1)	37,695		32,022	105,624	89,597
Income from real estate operations	$	144,378	125,570	417,153	357,020

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