Leasing Operations

12 Months Ended

Dec. 31, 2017

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, excluding leases associated with property held for sale and estimated contingent rentals, at December 31, 2017 is as follows (in thousands):



2018	$	392,337
2019	342,151
2020	289,691
2021	231,199
2022	166,880
Thereafter	533,824
Total	$	1,956,082

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



2017	$	129,635
2016	114,505
2015	107,931