Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 161

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 161
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 are leased to tenants under operating leases with various expiration dates ranging through 2041. Most lease agreements include provisions for renewals. We generally do not include renewal options in our lease term. Future minimum rental payments under non-cancelable operating leases with third parties as of December 31, 2024 were as follows (in thousands): 

        2025
         
        $
        35,082

        2026

        26,004

        2027

        15,428

        2028

        9,066

        2029

        7,294

        Thereafter

        17,160

        Total future minimum lease payments
         
        $
        110,034

       The future minimum rental payments presented above do not include contingent rent based on future inflation, future revenues or volumes of the lessee, or non-lease components for amounts that may be received as tenant reimbursements for certain operating costs. Deferred rent income from straight-line rent relates to the cumulative amount by which straight-line rental income recorded to date exceeds cash rents billed to date under the lease agreement and totaled $2.6 million and $5.0 million at December 31, 2024 and 2023, respectively.

74 

CROSSAMERICA PARTNERS LPNOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

Note 14. RELATED PARTY TRANSACTIONSTransactions with Affiliates of Members of the BoardWholesale Motor Fuel Sales and Real Estate RentalsRevenues from TopStar, an entity affiliated with the Topper Group, were $43.1 million, $50.7 million and $74.2 million for 2024, 2023 and 2022, respectively. Accounts receivable from TopStar were $0.6 million and $0.4 million at December 31, 2024 and 2023, respectively. We lease real estate from the Topper Group. Rent expense under these lease agreements was $10.2 million, $10.3 million and $10.0 million for 2024, 2023 and 2022, respectively. Generally, rent payable under these leases increases by 1.5% per year through the 10-year term expiring in April 2030. Generally, there are four five-year renewal options under these leases.Sale of PropertyIn 2024, we sold one property to a related party affiliated with the Topper Group for $