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Lessor Operating Leases
9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Lessor Operating Leases Lessor Operating Leases
At September 30, 2024, we owned or held interests in 15,457 properties. Of the 15,457 properties, 15,156, or 98.1%, are single-client properties, and the remaining are multi-client properties. At September 30, 2024, 196 properties were available for lease or sale. The majority of our leases are accounted for as operating leases.
At September 30, 2024, most of the properties in our portfolio were leased under net lease agreements where our client pays or reimburses us for property taxes and assessments and carries insurance coverage for public liability, property damage, fire, and extended coverage.
Rent based on a percentage of our clients' gross sales, or percentage rent, for the three months ended September 30, 2024, and 2023 was $3.1 million, and $2.2 million, respectively. Percentage rent for the nine months ended September 30, 2024, and 2023 was $10.8 million, and $8.0 million, respectively.
No individual client’s rental revenue, including percentage rents, represented more than 10% of our total revenue for each of the nine months ended September 30, 2024, and 2023.