Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Schedule of disaggregation of Company's revenue
The below table disaggregates the Company’s revenue by type of service for the three and six months ended June 30, 2019 and 2018 (in thousands, unaudited):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Minimum rent
$
11,974

 
$
12,873

 
$
24,435

 
$
25,483

Tenant reimbursements - variable lease revenue
3,450

 
2,965

 
6,737

 
6,187

Percentage rent - variable lease revenue
77

 
38

 
189

 
125

Lease termination fees

 
1,038

 
49

 
1,284

Asset management fees
13

 
47

 
26

 
172

Commissions
5

 
36

 
47

 
50

Other
123

 
109

 
244

 
196

     Subtotal
15,642

 
17,106

 
31,727

 
33,497

Credit losses on operating lease receivables
(110
)
 
(165
)
 
(200
)
 
(263
)
     Total
$
15,532

 
$
16,941

 
$
31,527

 
$
33,234

Schedule of corporate general and administrative expenses
A detail for the "corporate general & administrative" ("CG&A") line item from the condensed consolidated statements of operations is presented below (in thousands, unaudited):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Compensation and benefits
$
431

 
$
446

 
$
1,107

 
$
1,447

Professional fees
328

 
810

 
927

 
1,671

Corporate administration
303

 
327

 
608

 
669

Capital related costs
62

 
245

 
136

 
298

Taxes and licenses
70

 
39

 
132

 
204

Other
186

 
427

 
284

 
549

 
1,380

 
2,294

 
3,194

 
4,838

Less: Allocation of CG&A to Non-REIT management and leasing services

 
(26
)
 

 
(62
)
    Total
$
1,380

 
$
2,268

 
$
3,194

 
$
4,776