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Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Components of Lease Revenue

The components of rental revenues are as follows:

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Fixed lease payments

 

$

459,958

 

 

$

607,259

 

 

$

684,634

 

Variable lease payments

 

 

94,106

 

 

 

129,619

 

 

 

144,479

 

Total rental revenues

 

$

554,064

 

 

$

736,878

 

 

$

829,113

 

Schedule of Undiscounted Future Lease Payments to be Received

The undiscounted future fixed lease payments to be received under the Company's operating leases as of December 31, 2020, are as follows:

 

Years Ending December 31,

 

Operating Leases

 

2021

 

$

401,573

 

2022

 

 

344,777

 

2023

 

 

288,775

 

2024

 

 

232,399

 

2025

 

 

175,956

 

Thereafter

 

 

412,502

 

Total undiscounted lease payments

 

$

1,855,982

 

 

Schedule of Right-of-Use Asset and Lease Liability Activity A summary of the Company's ROU asset and lease liability activity during the year ended December 31, 2020 and 2019 is presented below:

 

 

ROU Asset

 

 

Lease Liability

 

Balance as of January 1, 2019

 

$

4,160

 

 

$

4,074

 

Cash reduction

 

 

(557

)

 

 

(557

)

Noncash decrease

 

 

201

 

 

 

320

 

Balance as of January 1, 2020

 

 

3,804

 

 

 

3,837

 

Cash reduction

 

 

(373

)

 

 

(373

)

Noncash decrease

 

 

(128

)

 

 

(134

)

Balance as of December 31, 2020

 

$

3,303

 

 

$

3,330

 

 

Schedule of Lease Expense

The components of lease expense are presented below:

 

 

 

Year Ended December 31, 2020

 

 

Year Ended December 31, 2019

 

Lease expense:

 

 

 

 

 

 

 

 

Operating lease expense

 

$

462

 

 

$

547

 

Variable lease expense

 

 

223

 

 

 

348

 

Total lease expense

 

$

685

 

 

$

895

 

Schedule of Undiscounted Future Lease Payments under Operating Leases

The undiscounted future lease payments to be paid under the Company's operating leases as of December 31, 2020, are as follows:

 

Year Ending December 31,

 

Operating Leases

 

2021

 

$

379

 

2022

 

 

299

 

2023

 

 

284

 

2024

 

 

264

 

2025

 

 

269

 

Thereafter

 

 

11,747

 

Total undiscounted lease payments

 

 

13,242

 

Less imputed interest

 

 

(9,912

)

Lease liability

 

$

3,330