Strong Leasing Activity
Lease rate increased by 50 basis points sequentially to 96%, with 120,000 square feet of new leases and renewals including major tenants like AT&T and Verizon.
Significant Acquisition Momentum
Acquired 11 properties for over $124 million in Q1, with a current pipeline of over $500 million expected to close in the near term.
Robust Cash Flow and Liquidity
Achieved almost $25 million of retained cash flow with under 5% CapEx as a percentage of NOI, alongside $1 billion in liquidity at quarter end.
Positive Financial Performance
NOI up almost 9% sequentially, driven by organic growth and acquisitions, with an increase in guidance for 2025 OFFO.