8. Operating Leases

Griffin's rental revenue reflects the leasing of industrial/warehouse and, to a lesser extent, office/flex space and certain land parcels. Future minimum rental payments, including expected tenant reimbursements, to be received under noncancelable leases as of November 30, 2019 were:


2020	$	33,022
2021		30,369
2022		22,999
2023		17,728
2024		14,694
Later years		31,610
	$	150,422

All future minimum rental payments, principally for Griffin’s corporate headquarters, under noncancelable leases, as lessee, as of November 30, 2019 were:


2020	$	126
2021		126
2022		133
2023		131
2024		131
Later years		250
	$	897

Total rental expense for all operating leases, as lessee, in fiscal 2019, fiscal 2018 and fiscal 2017 was $146, $149 and $156, respectively.

Effective October 1, 2016, Griffin entered into a ten-year sublease for approximately 1,920 square feet in New York City for its executive offices. The sublease is with Bloomingdale Properties, Inc. (“Bloomingdale Properties”), an entity that is controlled by certain members of the Cullman and Ernst Group, which is considered a related party to Griffin. The sublease with Bloomingdale Properties was approved by Griffin’s Audit Committee and the lease rates under the sublease were at market rate at the time the sublease was signed. Rental expense for this lease in fiscal 2019, fiscal 2018 and fiscal 2017 was $126, $124 and $124, respectively, which is included in general and administrative expenses.