v3.26.1
LEASES (Tables)
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Operating Lease Liability Maturities

Maturities of operating lease liabilities were as follows:

(In thousands)

 

June 30,

 

2026 (Six months)

 

$

368

 

2027

 

 

743

 

2028

 

 

755

 

2029

 

 

768

 

2030

 

 

626

 

Thereafter

 

 

3,794

 

Total Payments

 

 

7,054

 

Less: Interest

 

 

(1,659

)

Operating Lease Liability

 

$

5,395

 

Schedule of Components of Rental Revenue

The following table shows the components of rental revenue.

 

Three Months Ended
June 30,

 

 

Six Months Ended
 June 30,

 

(In thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Lease revenue - operating leases

 

$

67,199

 

 

$

62,090

 

 

$

134,208

 

 

$

122,832

 

Variable lease revenue (tenant reimbursements)

 

 

2,836

 

 

 

2,724

 

 

 

5,640

 

 

 

5,464

 

Total Rental Revenue

 

$

70,035

 

 

$

64,814

 

 

$

139,848

 

 

$

128,296

 

Schedule of Future Minimum Lease Payments to be Received

The following table presents the scheduled minimum future contractual rent to be received under the remaining non-cancelable term of the operating leases. The table presents future minimum lease payments due during the initial lease term only as lease renewal periods are exercisable at the option of the lessee.

(In thousands)

 

June 30,

 

2026 (Six months)

 

$

135,930

 

2027

 

 

268,347

 

2028

 

 

244,963

 

2029

 

 

218,433

 

2030

 

 

191,708

 

Thereafter

 

 

898,658

 

Total Future Minimum Lease Payments

 

$

1,958,039