Lease Accounting (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Operating Lease, Lease Income

The following table presents the Company’s classification of rental revenue for its operating leases for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended				Six Months Ended
Classification	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Fixed	$	73,374	$	72,703	$	144,639	$	145,412
Variable(1)	7,720		6,055		15,190		13,321
Total	$	81,094	$	78,758	$	159,829	$	158,733

(1) Primarily comprised of tenant reimbursements.

Lessor, Operating Lease, Payments to be Received, Maturity

Future fixed rental receipts for leases, assuming no new or re-negotiated leases as of June 30, 2020 were as follows:

2020 - remainder	$	141,738
2021	277,438
2022	265,539
2023	264,398
2024	233,935
2025	209,025
Thereafter	1,278,922
Total	$	2,670,995

Assets and Liabilities, Lessee

Supplemental information related to operating leases is as follows:

	Six Months Ended
	June 30, 2020		June 30, 2019
Weighted-average remaining lease term
Operating leases (years)	12.4		12.6
Weighted-average discount rate
Operating leases	4.2	%	4.1	%

Lease, Cost

The components of lease expense for the six months ended June 30, 2020 and 2019 were as follows:

Income Statement Classification	Fixed		Variable		Total
2020:
Property operating	$	1,990	$	—	$	1,990
General and administrative	677		47		724
Total	$	2,667	$	47	$	2,714
2019:
Property operating	$	1,992	$	—	$	1,992
General and administrative	671		57		728
Total	$	2,663	$	57	$	2,720

Lessee, Operating Lease, Liability, Maturity

The following table shows the Company's maturity analysis of its operating lease liabilities as of June 30, 2020:

	Operating Leases
2020 - remainder	$	2,448
2021	5,060
2022	5,135
2023	5,279
2024	5,301
2025	5,301
Thereafter	21,370
Total lease payments	$	49,894
Less: Imputed interest	(12,079)
Present value of operating lease liabilities	$	37,815