NOTE 7. LEASING ARRANGEMENTS AND COMMITMENTS |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NOTE 7. LEASING ARRANGEMENTS AND COMMITMENTS | Note 8 - Leases
Lessor- Operating leases
The Company’s Block 40 property is leased to tenants primarily under non-cancelable operating leases. Future minimum lease payments to be received under non-cancelable operating leases as of September 30, 2025 are as follows:
The future minimum lease payments in the table above excludes tenant reimbursements of operating expenses, and the amortization of above/below-market lease intangibles.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Block 40 L L C 2023 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NOTE 7. LEASING ARRANGEMENTS AND COMMITMENTS | NOTE 7. LEASING ARRANGEMENTS AND COMMITMENTS
Leasing Arrangements The Company leases commercial space to tenants under noncancelable operating leases that expire on various dates through 2036.
The approximate future minimum base rents, under noncancelable commercial operating leases for the years subsequent to December 31, 2023, are as follows:
Commitments
As of December 31, 2023, the Company was committed to funding tenant improvement allowances amounting to approximately $1,600,000 associated with its commercial operating leases.
|