LEASE REVENUE

3 Months Ended

Mar. 31, 2024

Operating Leases, Income Statement, Lease Revenue [Abstract]

Operating Lease, Lease Income [Text Block]

LEASE REVENUE

The Company’s primary source of revenue is rental income from business distribution space. The table below presents the components of Income from real estate operations for the three months ended March 31, 2024 and 2023:

	Three Months Ended March 31,
	2024		2023
	(In thousands)
Lease income — operating leases	$	114,200	100,696
Variable lease income (1)	39,874		33,268
Income from real estate operations	$	154,074	133,964

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