Note 11 - Leasing Arrangements

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Lessor, Operating Leases [Text Block]

11. 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. Leasing income subject to ASC Topic 842 for the three and six months ended June 30, 2023 and 2022 were as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	(unaudited)				(unaudited)
	2023		2022		2023		2022
	(in thousands)				(in thousands)
Minimum rentals	$	837	$	818	$	1,644	$	1,640
Percentage rentals		536		578		1,031		971
Licensing fees		295		275		518		498
Other		238		264		443		603
Total	$	1,906	$	1,935	$	3,636	$	3,712