Operating Leases

12 Months Ended

Dec. 31, 2016

Most of the Company’s rental properties are leased under operating leases with expiration dates ranging from 1 to 33 years. Future minimum rentals on non-cancelable tenant operating leases at December 31, 2016 are as follows (in thousands):



	Amount
Year:
2017	$	398,938
2018	382,923
2019	360,745
2020	340,521
2021	326,276
Thereafter	2,989,155
Total	$	4,798,558

The Company leases its executive office from an unrelated landlord. Rental expense totaled approximately $681 thousand, $556 thousand and $521 thousand for the years ended December 31, 2016, 2015 and 2014, respectively, and is included as a component of general and administrative expense in the accompanying consolidated statements of income. Future minimum lease payments under this lease at December 31, 2016 are as follows (in thousands):



	Amount
Year:
2017	$	856
2018	856
2019	856
2020	856
2021	884
Thereafter	4,592
Total	$	8,900