Thanks, uniquely to report to challenging strong talented balance robust continue operational as experienced a Taylor. portfolio, our tenant I'm execution on environment. that profile platform relationships, sheet markets. to a to recovering steadily recovery take strong differentiated but liquidity continues and pleased high-quality, quarter position we well-amenitized navigate this team, of Kilroy's capitalize and on the hold across
operational a cover nonrecurring to per items, dynamic. this a Jeffrey speak FFO combination in and which and third due results sequential share, a $X.XX will few financial quarter increase the of minutes. quarter was third of Our for $X.XX recurring to
year, share full FFO outlook, midpoint Based the at performance range. guidance for by on we our of and quarter per the year third the of $X.XX the our increased strong balance
feet period, we short-term leases. of square leases, square the XXX,XXX of signed During including feet XXX,XXX approximately
we DermTech XXX,XXX lease also the signed square bankruptcy. to addition, a short-term related foot In
the will downsizing vacating The short-term renewals or for quarter that of in was portfolio near term. leasing comprised in tenants be this activity the significantly predominantly
Excluding cash deals term average the on years, X.X with spreads short-term leasing approximately weighted X%. executed transactions, lease of was approximately
Notable square a foot new announced XXX,XXX transactions in Lake Union. SAP Bellevue, this square quarter included lease renewal the with Washington South in previously NVIDIA and XX,XXX foot
with on executed Recent drove increase rent in in a XX early midpoint average to an previously basis commencement a new occupancy XX%. conjunction leasing the lease, of our activity, guidance point
NVIDIA our future demand deals pipeline we SAP, As to are in demand and Seattle. and South signs in Union a see and in see to Lake continue Bellevue, highlights, pickup of late-stage robust beginning in
collaboration return we West major series latest X-day accelerating way conclusion differentiated culture is Amazon's drives in-person had the the of dynamics Coast that at XXXX, work course is only is in employers performance. embrace to office to to recent hard the worked the and in to and that of announcements that Pacific innovation a and further long-term the over productivity, that announcement most enhance have effective Northwest arrive remote seen the build a sustainable for
to and experience that from to instances, where course optimal several they previously coming continue but In levels portfolio. in have is now looking some are uptick a their are tenants for demand. requirements, estate that demand recently, real seen has existing strong notable downsized, our Diego, prepandemic this correct. and from San realizing utilization underestimated opportunities at looking time, occupancy physical been for In within expand tenants And to we we interest
seen in and by service sequential each Of in well, nice remains In Los occupancy technology Long tenants. professional driven have we a improvements in Culver Angeles, while solid activity uptick continue submarkets. in our aggregate driving note, soft, we interest of to in and to continue Beach, demand recently execute City see
the improvements the been and overall ongoing by created has of encouraged remain study. industry momentum we by AI be for the will traffic The Francisco, to market. evolution growth and San vibrancy the continued physical of and foot continue in And a in this being catalyst occupancy, significant
far, in driving highest significant Area the positive proportion AI-related the is commands new a VC actively longer-term for which investment this of country, The levels formation, business by market. trend Bay very of
has date, expiration AI remaining XXXX, available limiting noting space to to While many the real the of prior the approximately the it's space end tenants of is many have on available worth users. their space focused searches in that to that immediately occupancy, half early-stage sublease a market lease estate attractiveness the of sublease for
deals, are shifting prospective result, this on our program. executed direct suites leveraging spec by working As hard their to thoughtfully we're well-developed focus tenants and a dynamic to capitalize and
XXXX it we described Francisco, a meaningful of to second extraordinary in Kilroy base. delivery Point South As the activity off very excited XXXX, San month. are a to of this next we begin relates Oyster into In low campus phase early of our acceleration
remained tour wider interest has consistent over expanded these and tenants tenants, to level we've the prepared potential activity range X has X of crystallization of activity a relatively execute. But demand, of higher this XXXX. include tour as The a last in appear months, to more to throughout seen much
more late-stage other companies, companies have technology life office we spent on and with Recently, research time science site traditional users. and early institutions,
remain tenants. unique what question deal of highly no quality discerning elongated, significantly process cater delivering range in of are to become wide ability a we we convicted to the and the that highly While has there's its
are more while While a the market. will more test improving, Eliott still clearly transaction that is to the note I in market moment, Financing the environment sellers will detail discuss leading challenging, in evolving. markets,
return quarter. evaluating result, the are and on time while also good deals making last team progress through risk-adjusted actionable framework, spending sales a more a land discussed Eliott disciplined As
announce adjacent in X-building I'm Del at Paseo Kilroy's strategically Heights delighted In located Mar XXX,XXX submarket square San Diego. of Mar, the addition, One foot recent Mixed-Use Junction to of campus acquisition to our project Del
for existing One submarkets very an strongest redevelopment our integration a one transaction, achieving an and as-is risk-adjusted small presence on additional potential Paseo. return deal longer-term upside and this with the proposition from with in a increasing compelling While of excellent basis, our value represents company,
platform. turning to over to see the since I've been in gratifying for this I see Eliott, work, day deliver It leans this change, challenges, team a the together and into thank to we has seen Before hard Kilroy every entire the want I'm embraces way joining to flexibility to and can XXXX. call opportunities dedication organization take excited confronts and what moment the
Eliott?
