Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.3
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2019 and 2018 (in thousands, unaudited):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Minimum rent
$
12,169

 
$
12,704

 
$
36,604

 
$
38,187

Tenant reimbursements - variable lease revenue
3,262

 
3,150

 
9,999

 
9,337

Percentage rent - variable lease revenue
69

 
51

 
258

 
176

Lease termination fees
—

 
(15
)
 
49

 
1,269

Commissions
18

 
52

 
65

 
102

Asset management fees
16

 
48

 
42

 
220

Other
146

 
232

 
390

 
428

     Subtotal
15,680

 
16,222

 
47,407

 
49,719

Credit losses on operating lease receivables
(115
)
 
(149
)
 
(315
)
 
(412
)
     Total
$
15,565

 
$
16,073

 
$
47,092

 
$
49,307

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
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Compensation and benefits
$
455

 
$
554

 
$
1,562

 
$
2,001

Professional fees
444

 
638

 
1,371

 
2,309

Corporate administration
326

 
299

 
934

 
968

Capital related costs
4

 
110

 
140

 
408

Taxes and licenses
40

 
23

 
172

 
227

Other
80

 
168

 
364

 
717

 
1,349

 
1,792

 
4,543

 
6,630

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

 
(89
)
 
—

 
(151
)
    Total
$
1,349

 
$
1,703

 
$
4,543

 
$
6,479