Note 12 - Leasing Arrangements

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Lessor, Operating Leases [Text Block]

12. LEASING ARRANGEMENTS

The Company leases land primarily to agriculture operators and leases space in commercial buildings primarily to restaurant and retail tenants with terms continuing through 2048. These operating leases generally provide for minimum rents for commercial properties and land assets and, in some cases, licensing fees for use of trade names, 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 revenues subject to ASC Topic 842, Leases for the three and nine months ended September 30, 2025 and 2024 were as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
	(unaudited)				(unaudited)
	(in thousands)				(in thousands)
Minimum rentals	$	1,185	$	1,083	$	3,715	$	3,105
Percentage rentals		641		734		1,828		1,783
Licensing fees		33		67		105		136
Other		584		374		1,227		725
Total	$	2,443	$	2,258	$	6,875	$	5,749