Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Operating Lease, Lease Income

The following table presents the Company’s classification of rental revenue for its operating leases for the year ended December 31, 2021 and 2020:

Classification	December 31, 2021		December 31, 2020
Fixed	$	287,552	$	293,457
Variable(1)(2)	52,392		32,354
Total	$	339,944	$	325,811

(1)    Primarily comprised of tenant reimbursements.

(2)    Variable lease payments contain termination revenue of $15,371 and $857 for the year ending December 31, 2021 and 2020, respectively. The 2021 termination fee revenue primarily related to a tenant that terminated its lease at the Company's Durham, New Hampshire industrial property.

Lessor, Operating Lease, Payments to be Received, Maturity

Future fixed rental receipts for leases, assuming no new or re-negotiated leases as of December 31, 2021 were as     follows:

Year ending December 31,	Total
2022	$	254,733
2023	258,475
2024	228,697
2025	208,404
2026	189,243
Thereafter	710,938
Total	$	1,850,490

Lease, Cost

Supplemental information related to operating leases is as follows:

	The Year Ended
	December 31, 2021		December 31, 2020
Weighted-average remaining lease term
Operating leases (years)	9.7		11.7
Weighted-average discount rate
Operating leases	4.0	%	4.1	%

The components of lease expense for the year ended December 31, 2021 and 2020 were as follows:

Income Statement Classification	Fixed		Variable		Total
2021:
Property operating	$	3,645	$	3	$	3,648
General and administrative	1,380		70		1,450
Total	$	5,025	$	73	$	5,098
2020:
Property operating	$	3,969	$	2	$	3,971
General and administrative	1,348		105		1,453
Total	$	5,317	$	107	$	5,424

Lessee, Operating Lease, Liability, Maturity

The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2021:

Year ending December 31,	Operating Leases
2022	$	5,046
2023	5,290
2024	5,199
2025	5,204
2026	4,174
Thereafter	11,174
Total lease payments	36,087
Less: Imputed interest	(6,993)
Present value of lease liabilities	$	29,094