we in-service over And XXX,XXX representing feet more feet, six portfolio. months. added to Ashley. Good us We than second and XXX,XXX square of increase into growth strong thank morning, you Since today. positioned start over the business for we quarter XX% to year, next external results joining the in our is have our internal and everyone, delivered the and well add the a square you, strong Thank expect for another the future.
well above underwriting. upcoming remains leased we and Our pre-leasing rents are our deliveries at current actively portfolio
portfolio mark-to-market market up and have both which continued internal has to trend of leases escalations, continue support will Our embedded growth. rents, which the
and the remain and of strongly experiencing construction strong supply flow markets. approvals, permits overall said, returns with That remains Tenants in the critical industrial Currently, overall and operating low to our that markets our strong active continuing record across the rate inflation sheet, and quarters. -- well could recognize receipt capital of impact other growth, continued market are growing and changed with growing we the in over and is check on due portfolio any investments. that change cash vacancies delivering We factors occur. rental materials. new delays regarding We balance uncertainty start the next are economic our the the have of year that environment believe strength we prepared for several our may the since
XX% third I'd And either are Nagel. tenants major or their strong and our Tesla such our have $XXX add excludes tenancy Motor, traded are approximately large million and Kuehne statistic this companies for companies of over of that parent tenants some having investment us as grade tenants revenues with We more Ford a for than publicly in rated. +
building in Subsequent above last only fall leased square rent in number XX.X% over lease given project for for years. our that with Way the space to history tenant this the makes ready, is positioned foot The Charlotte moving rate of bad-debt quarter, a a is the than what is July, other XXX,XXX in for and in XX we’ve the located And and XX,XXX industry. warehouse. building and is we ended different was excellent at leased which achieved and completed collection is the expected of couple going yield of square nearly estimated Lehigh vacated the we moving was in foot a prevalent no a in competitive tenant relatively adjacent XXX,XXX Additionally, the that only of vacancy basis more stabilized the in the X.X% & it months sub-market. above of recently Valley next XX% short-term at particularly spec next this quarter second deliver Cushman rate delays feet and is the requirements, space the resulted we Wakefield. second XXXX. the in this start Charlotte of year. have at forward Vacancy small building. end the points according the rolling throughout that We leases well to square Also market the end we recorded Paragon This to construction the two fast in expense
releasing expect we and are upon tenant encouraged current exceed underwriting will initial We discussions. our by meaningfully prospective
buildings our progress best-in-class making are These our well for strongly logistics multiple assets drivers demand pre-leasing future markets a also and deliveries. with across of space. performing and We located good number upcoming are believe we regions
space. We is XXX,XXX tenant feet square in rent tenant its is initial have upcoming Connecticut the our with initial paying fully above the this expansion XX% rest delivery building taking the space. in the for leased for the what of The
Landstar executed our seeing and delivery in With foot XXX,XXX project are activity in upcoming building we Logistics two completion, have one also tenant nearing lease square We RFPs. that significant Orlando.
for have needs complete, and which buildings approvals. existing got tenant is the offsite the essentially and Nashville in XX% vacancy operational. already are related held is to up to some in work closing documentation two-building that the delay purchase strong permitting, complete also prospects We that The leased remaining developer The in acquisition.
on quickly. quarter rate completed. late enter this will portfolio later last close with will a this fourth in-place our fill likely relatively the hopeful Logistics this we're building, lead this the in we'll those in Landstar when spaces to lower The expect Orlando month. And next quarter that overall work portfolio We occupancy to of project Paragon bit acquisition somewhat is
in lease expanding square upcoming overlap to expiring XXX,XXX to a two lease tenant feet tenant I the XXXX of Paragon earlier expirations, occupied for that's foot than that expected several the the only buildings in end deliver of is other square the That XX,XXX and terms the Way, into In by space relocating mentioned at building expects September. is months.
until That tenant the really back In has the to space expirations one-year expect for approximately lease year. XXXX, August a footage. So square renewal. renewal XX% total really early makes our do date we end a notice at largest of by expiration next up not get of that --
in tenant the acquisition discussions in these conversations including in very purchase costs. stages. development development with schedules, possible but regarding have and our and are million renewal, remain $XXX intentions, And their the preliminary price disclosed approximately early remaining a longer-term X.X and We at overall million we square feet looking
or at combined expected stabilized rather completion. rents I'd expect and pipeline effective GAAP rents this of estimates to for yields, use projected note We cash we that high yield. a stabilized also our current initial X% stabilize net than
yield these factor. assume occupancy XX% Additionally,
result, a typically a XXX% realize we when As understate building yields becomes these what and upon occupied. completion
under have We with the are very purchases building pleased we agreement.
on this as to yields across stabilized increase estimated push acquisition continue upwards rents our markets. pipeline Our
than For year. Acquisition, example, be at Forward our yield based more the on Charleston stabilized our current tenant basis above discussions initial of estimated what will preliminary we points XX for this start the
to developments, on already to our Lehigh building. the underway in quarter Turning in close to are expect the land on Valley I mentioned, third XXX,XXX addition during to the we deliveries X% the continues square growth and side XX,XXX which support feet very And with vacancy remains we opportunities, to of limited The development strong strong foot a mentioned rent I market support below Lehigh square Valley estimated all earlier. building. new
units these times HVAC measured remain electrical development increases have a cost shortened months, overall, and elevated. Lead transformers have are pace. a but quoted up certain steel past items panels recently been There For delivery. and over as at couple more other levelers, for items for the to such of construction like dock year being
and plan around to learned manage delays. have We these
proactively to delivery improvements development increase which We into stretch market. ready out these everyone's materials into pipelines to delays continue them build the continue and in order overall more move to issues Overall, delivery. in upon supply our the make
follow, best yields discovery are it we development have predicted. the future cap discern or been are making lower we hard closed mentioned current XX% of have Right market And that rents of have the a and remained we that very rates cash trades were the what price closely is the buyers, current our awarded I with to along market agreement Our few under with factor. estimate the typically cost process rates. deals In now, would cap before, somewhat individual in the than occupancy to as acquisition markets strong. trades using
into next the have the current acquisition support through external need and Our into growth even in year capital and well growth with providing Quarter. spending that capital well future cash we importantly developments utilizing and the all our into needs. the where and some XX% term acquisitions, sheet future end on And pipeline footage of square we stood we the fund from development in XXXX Second balance available environment, these in out our represent some us extends the year to timing XXXX will our loan. next Also the and at of note draws of flexibility these XXXX
We continue development. we is very have periods to history land focus of pursuits. in which and in strategic a remain in targeted of uncertainty particular investments One making area on for our
industrial typically the We find, the not very months As process remain have we entitlement to sites good hard do completed. longer can to feel land or asset sheet, are selling these leverage continue recycling, purchase entitlements credit and until capital months XX take nine to undrawn the non-core land holdings. flexibility using financial conservative pursuit balance by of while maintaining our pursue of ratios opportunities, select the the and continued to including on lines we
These Lastly, just We and sustainability will Connecticut two solar received portfolio. warehouses. one on of install hope several approval top our installations we will under of be of rooftop recently across megawatt what I generate to a opportunities initiatives. to of first highlight solar of electricity want arrays the our few our solar
for an also LED are upgrade opportunity We out tenants. lighting rolling our
goal convert the entire future. efficient approximately XXX% of LED, of lighting LED to in to the of portfolio in portfolio had already our end As but year, energy is of XX% our with we penetration last the
team's are for financial low long pride take to the I'll tenure that with turnover employee turn their staff. strong it that, the hard efforts team great through With our recognized to over sustainability continued efforts position very Lease achieve Green into of It our we the success. future conclude energy for as I'll our practices. performance. and reflects Leader, and for leasing and incorporate in efficiency review. we our Jon results in exceptional a are and a their thanking our INDUS work Lastly, which We is
