Note 11 - Leasing Arrangements

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Lessor, Operating Leases [Text Block]

11. 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 rentals 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. Leasing income subject to ASC Topic 842 for the three months ended March 31, 2023 and 2022 were as follows:

	Three Months Ended
	March 31,
	(unaudited)
	2023		2022
	(in thousands)
Minimum rentals	$	806	$	823
Percentage rentals		495		394
Licensing fees		223		222
Other		205		237
Total	$	1,729	$	1,676