LEASES (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Current Minimum Future Rentals Under the Leases

As of March 31, 2023, minimum future rentals from noncancelable operating leases, before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows (in thousands):

 

Year Ending December 31,
2023 (nine months ending December 31, 2023)	$	188,878
2024	231,639
2025	208,649
2026	191,878
2027	167,065
Thereafter	316,554
Total	$	1,304,663

Current Minimum Annual Payments Under the Leases

Current annual payments under the operating leases are as follows, as of March 31, 2023 (in thousands): 

Year Ending December 31,
2023 (nine months ending December 31, 2023)	$	2,509
2024	3,428
2025	3,531
2026	3,584
2027	3,584
Thereafter	12,543
Total lease payments	29,179
Imputed interest	(4,087)
Present value of lease liability	$	25,092

Lease Costs Under Operating Leases and Supplemental Cash Flow Information of Leases

Lease costs under the operating leases are as follows (in thousands):    

	Three Months Ended March 31,
	2023			2022
Operating lease cost	$	927		$	844
Sublease income	(1,003)			(763)
Total lease (income) cost	$	(76)		$	81
Weighted-average remaining lease term - operating leases (in years)	8.3
Weighted-average discount rate - operating leases	3.19		%

Supplemental cash flow information and non-cash activity related to our operating leases are as follow (in thousands):

	Three Months Ended March 31,
	2023		2022
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	820	$	796