Record Leasing Spreads
Blended cash leasing spreads in the second quarter were 17%, the highest quarterly blended spread in the past 5 years, with non-option renewals almost 20%.
Anchor Leasing Success
New leasing volume more than doubled sequentially, driven by 11 new anchor leases, including grocery leases with Whole Foods and Trader Joe's.
Increase in NAREIT and Core FFO Guidance
Midpoint of NAREIT and Core FFO per share guidance increased by $0.01, implying a 2.5% year-over-year growth.
Successful Capital Recycling
Strategic partnership with GIC expanded to over $1 billion of gross asset value, and three noncore assets sold year-to-date.
Operational and Strategic Achievements
Highest blended leasing spreads in 5 years, expansion with GIC, and opportunistic bond issuance at a 5.2% coupon.