Leasing Operations

12 Months Ended

Dec. 31, 2015

The terms of our leases range from less than one year for smaller tenant spaces to over 25 years for larger tenant spaces. In addition to minimum lease payments, most of the leases provide for contingent rentals (payments for real estate taxes, maintenance and insurance by lessees and an amount based on a percentage of the tenants’ sales).

Future minimum rental income from non-cancelable tenant leases, excluding leases associated with property held for sale and estimated contingent rentals, at December 31, 2015 is as follows (in thousands):



2016	$	373,313
2017	318,679
2018	264,786
2019	213,244
2020	163,617
Thereafter	561,935
Total	$	1,895,574

Contingent rentals for the year ended December 31, are as follows (in thousands):



2015	$	107,931
2014	109,714
2013	112,551