Leasing Operations

12 Months Ended

Dec. 31, 2016

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, 2016 is as follows (in thousands):



2017	$	410,810
2018	356,719
2019	301,351
2020	246,181
2021	184,156
Thereafter	603,330
Total	$	2,102,547

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



2016	$	114,505
2015	107,931
2014	109,714