Item 2. PROPERTIES

W. R. Berkley and its subsidiaries own or lease office buildings or office space suitable to conduct their operations. At December 31, 2015, the Company had aggregate office space of 3,892,994 square feet, of which 1,066,705 were owned and 2,826,288 were leased.

Rental expense for the Company's operations was approximately $46,271,000, $45,198,000 and $44,752,000 for 2015, 2014 and 2013, respectively. Future minimum lease payments, without provision for sublease income, are $42,470,000 in 2016, $39,443,000 in 2017 and $200,636,000 thereafter.