Operating lease, at its core, is a business relationship - an agreement between a tenant (lessee) and a landlord (GLC).

Operating Leasing is usually a better option for most business owners than owning. Operating lease does not transfer the risk or rewards of the leased property to the lessee in any economically substantial way.

In an operating lease, the lessor (or owner) transfers only the right to use the property to the lessee.

At the end of the lease period, the lessee returns the property to the lessor. In accounting of the lessee operating leases are treated as an operating expense, and no asset or liability is recorded as part of the lessee's balance sheet.