Annual report pursuant to Section 13 and 15(d)

Land Leases

v3.19.1
Land Leases
12 Months Ended
Dec. 31, 2018
Leases [Abstract]  
Leases of Lessee Disclosure [Text Block]
Note 9 – Land Leases
 
The Company acquired an interest, as ground lessee, in the ground lease related to the Omaha and Clermont facilities at their dates of acquisition. In connection with the acquisitions of the Moline facility the Company acquired the seller’s interest, as ground lessee, in an existing ground lease that has approximately 10 years remaining in the initial term, with 12 consecutive five-year renewal options. In connection with the acquisition of the Silvis facility the Company acquired the seller’s interest, as ground lessee, in an existing ground lease that has approximately 67 years remaining in the initial term, with no renewal options.
 
The aggregate minimum cash payments to be made by the Company on these land leases as of December 31, 2018, are as follows:
 
2019
 
$
109
 
2020
 
 
109
 
2021
 
 
109
 
2022
 
 
109
 
2023
 
 
113
 
Thereafter
 
 
2,121
 
Total
 
$
2,670