Leasing ActivityLeasing activity remained elevated at 539.3ksf (+7.9% vs. LTM avg.), bringing YTD leasing at 1.59msf (+25.3% y/y) with a leasing pipeline of close to 2msf (70% new).
Studio BusinessThe company is optimistic on the studio business as they have seen improvement in activity and demand for stages, with 79% of film and TV SF leased or in contract.
Studio Production RecoveryProduction starts in the US in 3Q24 reached 67% of '22 levels, up from 53% in 2Q24, with a meaningful improvement to 94% in September, indicating potential recovery in studio production.