SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Disaggregation of Revenue

The following is a summary of revenue earned by the Company’s reportable segments (see Note 19 “Segment Information,” for further information) during the year ended December 31, 2022 (in thousands):

	Philadelphia CBD		Pennsylvania Suburbs		Austin, Texas		Metropolitan Washington, D.C.		Other		Corporate (a)		Total
Fixed rent	$	151,034	$	116,926	$	60,831	$	16,686	$	9,805	$	(1,895)	$	353,387
Variable rent	51,346		11,615		32,958		1,283		2,644		(35)		99,811
Total lease revenue	202,380		128,541		93,789		17,969		12,449		(1,930)		453,198
Amortization of deferred market rents	1,308		10		1,264		—		—		—		2,582
Daily parking & hotel flexible stay	14,390		—		361		84		236		—		15,071
Total rents	218,078		128,551		95,414		18,053		12,685		(1,930)		470,851
Third party management fees, labor reimbursement and leasing	287		35		486		3,723		1,988		17,613		24,132
Other income	2,510		354		429		123		38		7,663		11,117
Total revenue	$	220,875	$	128,940	$	96,329	$	21,899	$	14,711	$	23,346	$	506,100

The following is a summary of revenue earned by the Company’s reportable segments (see Note 19 “Segment Information,” for further information) during the year ended December 31, 2021 (in thousands):

	Philadelphia CBD		Pennsylvania Suburbs		Austin, Texas		Metropolitan Washington, D.C.		Other		Corporate (a)		Total
Fixed rent	$	149,441	$	113,748	$	62,545	$	12,410	$	8,020	$	(2,240)	$	343,924
Variable rent	41,585		10,358		34,850		646		2,660		(257)		89,842
Total lease revenue	191,026		124,106		97,395		13,056		10,680		(2,497)		433,766
Amortization of deferred market rents	2,064		(9)		3,322		—		—		—		5,377
Daily parking & hotel flexible stay	11,758		159		109		117		233		—		12,376
Total rents	204,848		124,256		100,826		13,173		10,913		(2,497)		451,519
Third party management fees, labor reimbursement and leasing	893		34		452		6,548		3,077		15,440		26,444
Other income	2,117		276		402		144		25		5,892		8,856
Total revenue	$	207,858	$	124,566	$	101,680	$	19,865	$	14,015	$	18,835	$	486,819

The following is a summary of revenue earned by the Company’s reportable segments (see Note 19 “Segment Information,” for further information) during the year ended December 31, 2020 (in thousands):

	Philadelphia CBD		Pennsylvania Suburbs		Austin, Texas		Metropolitan Washington, D.C.		Other		Corporate (a)		Total
Fixed rent	$	166,286	$	128,044	$	63,366	$	29,830	$	8,064	$	(2,412)	$	393,178
Variable rent	51,410		12,951		35,123		3,544		2,401		(1,343)		104,086
Total lease revenue	217,696		140,995		98,489		33,374		10,465		(3,755)		497,264
Amortization of deferred market rents	1,146		(12)		3,531		—		203		—		4,868
Daily parking & hotel flexible stay	10,777		179		49		135		232		—		11,372
Total rents	229,619		141,162		102,069		33,509		10,900		(3,755)		513,504
Third party management fees, labor reimbursement and leasing	927		39		689		6,541		2,560		7,824		18,580
Other income	1,482		412		224		173		9		468		2,768
Total revenue	$	232,028	$	141,613	$	102,982	$	40,223	$	13,469	$	4,537	$	534,852

(a)Corporate includes intercompany eliminations necessary to reconcile to consolidated Company totals.