Quarterly report pursuant to Section 13 or 15(d)

Lease Agreements

v3.24.2.u1
Lease Agreements
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Lease Agreements Lease Agreements
As of June 30, 2024, we were the lessor to approximately 2,500 stores in our 32 consolidated centers, under operating leases with initial terms that expire from 2024 to 2039, with certain agreements containing extension options. Also, certain of our lease agreements require tenants to pay their portion of reimbursable expenses such as common area expenses, utilities, insurance and real estate taxes.

The components of rental revenues are as follows (in thousands):
Three months ended Six months ended
June 30, June 30,
2024 2023 2024 2023
Rental revenues - fixed $ 99,174  $ 82,815  $ 195,153  $ 164,702 
Rental revenues - variable (1)
23,145  21,773  44,975  43,468 
Rental revenues $ 122,319  $ 104,588  $ 240,128  $ 208,170 
(1)Primarily includes rents based on a percentage of tenant sales volume and reimbursable expenses such as common area expenses, utilities, insurance and real estate taxes.