Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Estimated Total Outstanding Commitments

As of September 30, 2025, the Company had the following estimated total outstanding leasing cost commitments (in thousands):


	Total (1)
Tenant improvement allowances (2)	$	48,416
Reimbursable landlord work (3)	7,314
Non-reimbursable landlord work (3)	13,299

Total	$	69,029

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(1)Outstanding commitments do not include rent concessions as such amounts are recorded as a component of straight-line rent receivable, net, in accordance with U.S. GAAP.

(2)Includes additional allowances of $3.6 million provided within the respective lease agreements, which require election by the tenant in exchange for additional rental income through the remaining term of the lease.

(3)Landlord work represents specific improvements agreed to within the lease agreement to be performed by the Company, as landlord, as a new and non-recurring obligation and in order to induce the tenant to enter into a new lease or lease renewal or extension. Outstanding commitments for reimbursable and non-reimbursable landlord work include estimates and are subject to change.

Orion Properties Inc. 10-Q