Note 13 - Leasing Arrangements

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Lessor, Operating Leases [Text Block]

13.         LEASING ARRANGEMENTS

The Company leases land primarily to agriculture operators and space in commercial buildings, primarily to restaurant and retail tenants through 2048. These operating leases generally provide for minimum rents and, in some cases, licensing fees, percentage rents based on tenant revenues, and reimbursement of common area maintenance and other expenses. Certain leases allow the lessee an option to extend or terminate the agreement. There are no leases allowing a lessee an option to purchase the underlying asset. Total leasing income subject to ASC Topic 842 for the three months ended March 31, 2022 and 2021 were as follows:

	Three Months Ended March 31, (unaudited)
	2022		2021
	(in thousands)
Minimum rentals	$	823	$	757
Percentage rentals		394		117
Licensing fees		222		125
Other (primarily common area recoveries)		237		214
Total	$	1,676	$	1,213