continuing in and the morning, delays the relatively of Good markets Tenants everyone, to check remains you strong operating our thank remain buildings. industrial active delivery the market absorption in for today. quite fundamentals supply Ashley. new and Thanks, in us in are joining The and due good.
and starts. the slow uncertain levels very of overall running capital impacted with to the recognize rates and investment of started resulting the year. inflation the has we with new The at and the significantly cost down also market in high above increase transactions development said, macroeconomic sales environment few availability interest occurring, that remains the start With
backdrop, a majority this includes and We market well we prepared for and prefunded Within well our rate all having the development at which is debt of acquisition environment. positioned market rates. have changing current below upcoming believe fixed INDUS effectively pipelines,
We look capital, notably land. to undeveloped also to recycle continue
maintaining We we upcoming flow we high expect leasing acquisitions roll deliveries, NOI. our on grow recent developments and and portfolio, focused from generate and and occupancy actively to cash significantly our as into are upcoming which
and to results, Speaking our the external to third current we internal deliver quarter, in continued strong growth.
in portfolio XX.X%, in only leased is recently Orlando. at the with vacancy building two the well development Our delivered
XXXX our no have net. to-date in of debt triple and leases bad all expense We are
We have square effectively our addressed most rollover for of expiring approximately of only before portfolio XXXX, through the leases accounting of footage XXXX. X% our lease end with total
role, that XX,XXX XXX,XXX upcoming in space the near-term foot be has therefore, in the our expected, existing we feet able Connecticut been square and vacancy order. in delivery do leased short the new expected quicker the vacated have Of tenant in get as one into to square fully operational than
the time an paid to had this earlier the we would originally what forecasted property resulted in-place points Since basis last a year. earlier rated in at rent in investment-grade successfully that new XX% above achieve by a year. yield tenant XX short-term the we the and of acquisition Charlotte we was lease quarter, This previous acquired we the retailer retenanted amount this above at
process, to they their completed delivery company. last also sought extension the company a during renewal to term. the that September, rights with exercised one-year its existing in global space Hartford secure in and renewal This We access a for of fixed longer
XX% this renewal increase an the rental with rent. two-year a additional As tenant, with a a recent rate ago, weeks executed few starting result, in we extension over
activity and underwriting. strong in and delivery most We will proposals, up current current tenant rental exceeding believe the us in leasing rates feel about result on the making good Orlando very recent our progress which the are recent good we
experience on on believe a GAAP our our comps in basis or using we across rather in strong levels we cash and We mark-to-market XX% continue We rent a markets known current to growth are basis. estimates, lease than quoted and currently XX% at the conservative the our portfolio typically estimate proposals. rent rates on
grown portfolio young is our relatively Additionally, has and significantly.
rent impacted This large go-forward basis. amounting quarter’s developments unusually nearly of leases newly our mark-to-market an signed calculation and added by estimated number of on one-fifth was to a
that leases quarter quarter by these estimate they recent have also mark-to-market a basis several how had NOI. group our mark-to-market leases very and cash our are, of hundred points. lowered opportunity on lower third Given this We impact this little calculation
With respect in Nashville, leased one leaving remaining feet space XX% have for to we tenant vacancy have our of with project XX,XXX interest. good of the which this square pipeline, vacant we
a of We half latter closing but to have been pushed this XXXX. we the first to delay The which public to the completing on this complete, in the the connection there’s buildings sewer, close require acquisition. on of are essentially acquisition quarter
start an Since increase feet, XXX,XXX our over the XX% of to added in-service year, have square portfolio. representing we the
We the underwriting estimates level. our in the we when initial Lehigh initial even at for our expect This Landstar at and yield X% around time construction. under current sites generate a in Landstar occupancy Tradeport our and in-place is to the XX% Logistics well of in agreement at three land put we the or XXX most actual above stabilized Tradeport Connecticut commenced Chapman’s using an recent developments, Valley, Orlando, Chapman’s Drive rents and
to future for we remain our As evaluate continue opportunities, we we development believe land conservative in budgeting.
if and more away a XX% today’s initially or assume we construction of and view years occupancy rents our stabilization. at two assumes underwriting even costs, is initial the delivery Our market
the late given pipeline quarter Lehigh one $XX Valley of per project rents development few Lehigh core we square with to asking in development in remaining second locations remaining check in Valley, The very opportunities. XXX,XXX above Our feet and square includes XXXX. of current market the complete remains foot which tight expect in supply
listing feel project Since return. are a strong than potential that not these well-located land we active them land attractive for now development very deliver have other will a several as of in pipeline. do for commencement have dates development including We rather sites, at construction our we basis an future we our
complete disclosed buildings on land this build new we in until Corp expect we an just expect close in can under XXX,XXX land permit, for to purchase Army site XXXX. time totaling not four we Charlotte on feet. this agreement necessary where extends under quarter, site the market, include This approvals which square later the we to entitlements. of do Therefore, the the The
a off. remains far investment significant any bit So
understaffed key materials, which certain lead ongoing key areas, somewhat to of in certain are municipalities That to continuing is construction steel including in exacerbated see improve. challenges, and we times we -- as shortages continue such to to Overall, experience improvements and and expect trends cost Hurricane are starting both some structural Ian. delays by these permitting by said,
in push commencement of signed or expected out expect typically pipeline and of we continue the first-generation number lease construction a we have needs experienced. leases beyond some what rent We near-term have our these to and to matters
needs We in continue all our improvements more impacts. tenants mitigate to designs work on proactively order process development materials, earlier base these try their to to and into the building with the
very pursuit produce good for believe logistics We a acquisitions. the properties current and building continue uncertain environment land remain opportunities. we of will long-term believe outlook The continue targeted strong will and to we
in on that are an certain proposed already dropping example, seeing heavily and rely as financing opportunities sites. are slowdown development a As some starts, developers debt land we reevaluating
asset credit select We undrawn and financial our on pursue maintaining lines using of sheet, have leverage the ratios to conservative flexibility recycling. balance opportunities, while capital the
On closing that last point, quarter. flex we small and office expected the is later this have contract under portfolio million our $XX for
in though subject a this typical As the NOI sale remains metrics it’s operations, to closing portfolio reminder, in conditions. -- discontinued reported not is our so FFO and core or carried included
on several we buyer for schedule of $XX own have we Connecticut. site. land is land use XXX,XXX-square-foot the Additionally, Drive under in our for to facility XX sale its on The largest of sites The intends a a a agreement manufacturing build of have $XX.X supplement. in potential which put undeveloped Goodwin industrial million, million approximately acres a total on
sale represent and land Massachusetts. parcels in Southern nonindustrial other The of the Connecticut
All intended for contingencies necessary number will of course these the closings the potential the a including of of to buyer’s note receipt over approvals flex of XXXX. sales, and portfolio place subject are uses take the office including
these per share, all $X.XX to or close, no for to if future with sales aggregate, were generated In we existing about proceeds in NOI, over investment. our million dry impact powder $XX providing while
great low their performance. are effort pride a in strong achieve our I that hard will position very and is the future employee conclude success. take We INDUS through team in with results and for our and thanking work for continued our team’s turnover we exceptional
review. to Jon I that, it With over for financial will a turn
