Note 5 - Leasing Arrangements

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Leasing Arrangements Disclosure [Text Block]

5 . LEASING ARRANGEMENTS

The Company leases land primarily to agriculture operators and space in commercial buildings, primarily to restaurant and retail tenants through

2048.

These operating leases generally provide for minimum rents and, in some cases, licensing fees and percentage rentals based on tenant revenues. In addition, the leases generally provide for reimbursement of common area maintenance and other expenses. Total rental income under these operating leases was as follows:

	2018		2017
	(in thousands)
Minimum rentals	$	2,720	$	2,495
Percentage rentals		1,544		1,255
Licensing fees		903		868
Other (primarily common area recoveries)		1,056		1,114
Total	$	6,223	$	5,732

Property at

December 

31,

2018

and

2017

includes leased property of

$

29.4

million (before accumulated depreciation of

$17.2

million and

$16.3

million, respectively).

Future minimum rental income receivable during the next

five

years and thereafter is as follows:

	(in thousands)
2019	$	2,992
2020		2,970
2021		2,499
2022		1,760
2023		756
Thereafter		1,722