Leases

Revenues

Approximate future minimum revenues from rentals under non-cancelable operating leases in effect at December 31, 2016, assuming no new or renegotiated leases or option extensions on lease agreements and no early lease terminations were as follows:



Year Ending December 31,
	(In thousands)
2017	$	181,697
2018	167,846
2019	147,880
2020	130,637
2021	107,892
Thereafter	347,640
Total	$	1,083,592

Expenses

We have an operating lease for our corporate headquarters in Michigan for a term expiring in 2019. We recognized rent expense of $0.6 million, $0.6 million, and $0.6 million for the years ended December 31, 2016, 2015, and 2014, respectively.

We also have a ground lease at Centennial Shops located in Edina, Minnesota. The lease includes rent escalations throughout the lease period and expires in April 2105. We recognized rent expense of $0.2 million for the year ended December 31, 2016.

Approximate future rental payments under our non-cancelable leases, assuming no option extensions are as follows:



Year Ending December 31,
	(In thousands)
2017	$	1,485
2018	1,494
2019	1,285
2020	856
2021	856
Thereafter	96,139
Total	$	102,115