Leasing Operations

12 Months Ended

Dec. 31, 2012

The terms of our leases range from less than one year for smaller tenant spaces to over 25 years for larger tenant spaces. In addition to minimum lease payments, most of the leases provide for contingent rentals (payments for real estate taxes, maintenance and insurance by lessees and an amount based on a percentage of the tenants’ sales).

Future minimum rental income from non-cancelable tenant leases, which does not include estimated contingent rentals, at December 31, 2012 is as follows (in thousands):



2013	$	383,026
2014	332,261
2015	276,734
2016	220,273
2017	163,197
Thereafter	588,498
Total	$	1,963,989

Contingent rentals for the year ended December 31, are as follows (in thousands):



2012	$	112,431
2011	112,414
2010	115,488

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References+ Details