v3.25.2
Note 4 - Leases
9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

4.

Leases

 

As a Lessor. At September 30, 2022, minimum lease payments owed to us for each of the five succeeding years under noncancelable operating leases, are as follows (in thousands):

 

Years Ended December 31,

 

Minimum

Future

Rents(1)

 

2022 (remaining)

 $2,143,291 

2023

  7,412,149 

2024

  5,161,795 

2025

  3,355,027 

2026

  2,280,450 

2027

  1,428,247 

Thereafter

  260,457 

Total

 $22,041,416 

 

(1) These amounts do not reflect future rental revenues from the renewal or replacement of existing leases and exclude reimbursements of operating expenses and rental increases that are not fixed.

 

As a Lessee. In periods before August 2022, we leased office space under leases from Whitestone REIT Operating Partnership, L.P. (“Whitestone OP”), a subsidiary and the operating partnership of Whitestone REIT (“Whitestone”), both of which are related parties to Pillarstone and Pillarstone OP.

 

Total rent expense for the three and nine months ended September 30, 2022 was $0 and $11 thousand, respectively. Total rent expense for the three and nine months ended September 30, 2021 was ($6) thousand and $11 thousand, respectively.