v3.25.2
LEASE REVENUE
6 Months Ended
Jun. 30, 2025
Operating Leases, Income Statement, Lease Revenue [Abstract]  
Operating Lease, Lease Income [Text Block] LEASE REVENUE
The Company’s primary source of revenue is rental income from business distribution space. The table below presents the components of Income from real estate operations for the three and six months ended June 30, 2025 and 2024:
Three Months Ended
June 30,
Six Months Ended June 30,
2025202420252024
(In thousands)
Lease income — Operating leases$133,727 117,138 263,793 231,338 
Variable lease income (1)
43,529 40,195 86,107 80,069 
Income from real estate operations$177,256 157,333 349,900 311,407 

(1)Primarily includes tenant reimbursements for real estate taxes, insurance and common area maintenance.