Commitments and Contingencies General As of December 31, 2013 , we had commitments of approximately $645.4 million , excluding our ground lease commitments, for contracts and executed leases directly related to our operating and redevelopment properties. Ground Leases The following table summarizes our properties that are held subject to long-term noncancellable ground lease obligations and the respective contractual expiration dates: Property Contractual Expiration Date (1) 601 108th Ave NE, Bellevue, WA November 2093 701, 801 and 837 N. 34th Street, Seattle, WA (2) December 2041 Kilroy Airport Center Phases I, II, and III, Long Beach, CA July 2084 ____________________ (1) Reflects the contractual expiration date prior to the impact of any extension or purchase options held by the Company. (2) The Company has three 10 year and one 45 year extension option for this ground lease which if exercised would extend the expiration date to December 2116. The minimum commitment under our ground leases as of December 31, 2013 for five years and thereafter was as follows: Year Ending (in thousands) 2014 $ 3,095 2015 3,095 2016 3,095 2017 3,095 2018 3,095 Thereafter 156,912 Total (1)(2)(3)(4) $ 172,387 ________________________ (1) Reflects the minimum ground lease obligations before the impact of ground lease extension options. (2) One of our ground lease obligations is subject to a fair market value adjustment every five years ; however, the lease includes ground rent subprotection and infrastructure rent credits which currently limit our annual rental obligations to $1.0 million . The contractual obligations for that ground lease included above assumes the lesser of $1.0 million or annual lease rental obligation in effect as of December 31, 2013 . (3) One of our ground lease obligations includes a component which is based on the percentage of gross income that exceeds the minimum ground rent. The minimum rent is subject to increases every five years based on 50% of the average annual percentage rent for the previous five y