Note 12 - Leasing Arrangements

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Lessor, Operating Leases [Text Block]

12. 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, percentage rentals based on tenant revenues, and reimbursement of common area maintenance and other expenses. Certain leases allow the lessee an option to extend or terminate the agreement. There are no leases allowing a lessee an option to purchase the underlying asset. Total leasing income for the three and six months ended June 30, 2021 and 2020 were as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	(unaudited)				(unaudited)
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Minimum rentals	$	742	$	712	$	1,482	$	1,410
Percentage rentals		417		37		534		304
Licensing fees		165		111		290		345
Other		315		321		863		608
Total	$	1,639	$	1,181	$	3,169	$	2,667