Company: OLP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001558370-25-002406
Chunk: 16

Company: ONE LIBERTY PROPERTIES INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1A
Chunk 16
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 in the event of tenant defaults, would incur expenses in enforcing our rights as landlord.  Our efforts to find replacement tenants may be challenged as there are a limited number of tenants interested in certain types of properties, such as our theaters (i.e., Regal Cinemas) and a health and fitness center (i.e., LA Fitness) which account in the aggregate for $2.2 million, or 3.0%, of 2025 contractual rental income and the cost of reconfiguring such properties to make them more attractive to a broader set of potential tenants may be prohibitive.  Finding replacement tenants for retail properties or incentivizing retail tenants to renew their leases is challenging as retail tenants often require that we pay for improvements to their facility (i.e., tenant improvements) – these improvements are often very costly and makes the prospect of entering into such lease less attractive to us.  Even if we find replacement tenants or renegotiate leases with current tenants, the terms of