Property and Equipment

12 Months Ended

Dec. 31, 2019

Property Plant And Equipment [Abstract]

Property and Equipment

Note 9. Property and Equipment

Property and equipment, net consists of the following at December 31, 2019 and 2018 (in thousands):

	December 31, 2019			December 31, 2018
	(in thousands)
Land	$	2,582		$	2,582
Building		11,390			11,390
Computer hardware and software		5,712			4,901
Office furniture and equipment		2,007			1,397
Tenant and leasehold improvements		8,105			4,477
Vehicle fleet		789			854
Total, at cost		30,585			25,601
Less: accumulated depreciation and amortization		(9,832	)		(7,603	)
Property and equipment, net	$	20,753		$	17,998

Depreciation expense for the years ended December 31, 2019, 2018 and 2017 was $2.2 million, $2.3 million, $1.6 million, respectively. The Company’s real estate consists of 15 acres of land, five buildings with a gross area of 229,000 square feet and a parking garage.

Expected annual rental income due under non-cancellable operating leases for our real estate properties is as follows (in thousands):

Year	Amount
January 1 to December 31, 2020	$	2,883
January 1 to December 31, 2021		2,954
January 1 to December 31, 2022		3,021
January 1 to December 31, 2023		3,144
January 1 to December 31, 2024		2,250
Thereafter		14,254
Total	$	28,506