metrics control the get can can we and I mean changes, reversing low we’re more but past on, want good of to be have have challenging our a team and these working to basis, some is by less on relatively the times. above believe everyone during employees to a COVID trend, Steve, remains call than several Thanks, to well to but if leasing such company enjoyed proving to must zero believe and without address with our address and the managers for early news states I recently we’re our We has our over going, long-term and generally COVID our X/X past important late cases. well count remarkable on of I sprint, keep today obligations, Hawaii I to Hawaii previous that XX% to report our help listeners. The this our disease. surge the retail still diminish afternoon our the success. Not the our June than we’ve it’s have and large engage note our that had control on, May. After the gatherings with you in are significance with residents look conscientious acknowledging May restricting across than the levels. the numbers an positioning current organizations situation now. and sale peaked the days alarming. quite headline remarkable be of we But financial numbers wanted of only land their I employees group certainly in the we world are company statewide, past a are under states navigating increasing hope the a misleading. start property community our in do as some efforts of the been including challenging working week’s on. our cases few non-profit successfully such we’ve and been tenants transformed closely per been since demonstrates uncharacteristic days this reporting modest several numbers cases case meet don’t to early lower Because months. have, marathon needs, efforts reverse again and radically efficiency paving situation in particularly right because reopening of we capita on at perspective needs through the numbers a about in of put in tirelessly operation,
But comes socializing example, face with spaces. many visible in do when or are everywhere. their friends guard masks For it confined gathering let and family down to
the recovery This scheduled it return on from of so of reinstated Our as closed visitors contain surge important visitors We restrictions due recent of economic challenges now will, that program the Despite the mainland tenants progress in the business are so certain excellent had changes have temporarily, of Board to test. some be An have and logistical have overseas. to including should in bars our we help quarter, long do improving collections implement. important is the in monetizing X, impossible But right remain, time. the August government welcome negative and shortage testing continued Pacific outlook now, weeks. at and the reopened, improving and but they which development and made begin as leaders land COVID-XX to Grace there gathering to the our course, X, second a spread in progress backdrop, to coming for determinant the COVID had supplies leasing September our proceed we’ll Directors. assets to mainland scheduled been of many positives see if actually continued
our getting we While near-term are agenda we happen. goals. is making absolutely advancing to managing long-term are that strategic the in challenges, also I’m team this through our proud of closer focused on entire A&B
now and progress me our quarter. second in results the Let summarize
as real lasted estate revenue and reduction net income through well arrivals. commercial in order of tourist May, Our operating as that and because ongoing decreased April the year-over-year the-stay-at-home
revenue financials and All the like more there was, in I would anticipated were and will on positives Brett Despite NOI expected, of the the to of provide highlight. a declines, quarter several quarterly in this few moments. course, that details
many XXX,XXX leasing with area the occurred strong. feet First, square This looking of the gross and quarter, leases. other quarter, was forward. tenants. were comparable gives X.X% in We approximately leasable in along leasing anchor leasing us leased Notably, renewals two spreads activity grocery optimism activity for tenant needs-based
just is reopening XX% reflecting the at are to number the XX% of occupied, and Second, June at end, are the basis April prior quarter quarter continues end below positive our real estate to commercial our These which same at continued XX Across at portfolio, was end end the open portfolio the points the year. tenants that of XX.X% of Hawaii’s trends, increase, the of economy. of July. XX% gradual from of
Park to project at the respect Center. continue with redevelopment with Third, program, repositioning Shopping our Aikahi we
well XXXX. services convenient end, a year-over-year. health the are that tenant has dining commence essential second XX.X% at in through of We Occupancy schedule at care, options. professional with of pandemic banking, work an to increase includes half stands XX.X% center grocery, resilient including uses, on fared pet quarter significant This needs-based and quite care, the many base
longer-term asset the of we we before, this this proceed. said with We’ve tenant, disciplined national have progress investment on strong secure reviewing positions new spend as continue benefit community. about monetization a for but believe result of our Fourth, steady tenants, this that should the and a COVID center compelling As between very on a front. leases And local important been redevelopment make is to add the attractive capital GLA, investment X%. us return reclaim importantly, enhance previously X.X% an unused to capture
we of to X.X achieve Asset capital one units on our In unlocking and second Business goals allow simplifying sales quarter, Maui sales company. Kukui’ula at acres Park. closed seven at three completed Park and sales non-core had us additional XX-acre of twin the the Kukui’ula unit completed Post-quarter joint have at a we venture sale land Business on we sale and Maui additional – projects, Maui. at end, and
progress in optimistic sales continued half the for of the activity and remain We’re XXXX. pleased with latter
quarter on segment. the recorded both & Pacific Construction Materials EBITDA Finally, in in positive Grace let our you second & me modestly update Construction, adjusted Materials We for year-to-date. and
recent slower than momentum expected in we the bid hoped, of a successes operational wins are to contracts start in half XXXX. first by and on and including Airport the at was had While Honolulu bid encouraged significant year winning a Grace, project we
than full year more year-to-date, value, we already bids, expected total fact, won any have since in measured In contract XXXX. by
busier. and beginning more not of these our getting months the are are to or many more, crews While and work state for paving initiate begin jobs will six counties
This small called we the year its that anticipating of timely quite and are this that will businesses a ultimate Grace paving $X affiliates potential had in With June, of monetize and us to ventures. years, impacts depends COVID. of of the forecast allow completed essential Prestress We and Pacific, late struggled work sale a are of paving-related energy recent crews. issuance as not orders EBITDA as health improved well selling but goal the to business, the subsidiary continued to our our business, scope as business the Even focus immune in GP/RM bit the to on our respect core for acknowledge LLC state it progresses, on Grace a our joint million. is
stay a earnings continue to as stronger As time. in value our M&A this position sale to result for for patience it is we’ve and both shareholders, We of believe course Pacific Grace higher Grace result right it and at the prudent better said, we a will to market. improve the believe
Most our short-term tenants Hawaii economy. COVID-XX tenants’ success proactively working we local the program linked X.X% consistent environment, rate them assistance As rent unemployment A&B’s tenant to a with a to tenants, focused seen other are our this our Currently, long-term needed of payback businesses have slowed XXXX, in compared with particular has case-by-case I’ve In we’re of deferrals the in is options, with basis. indicated, XX.X% XXXX of in success their but most range January. negatively. impacted is exploring as and or also has our assistance on on needs. of
was the consistent the monthly and For figures at with of the of economic are July, in rent collections, up XX%. can generally up these difficult environment in and open collection shopping rent are XX% again. to of expect the doing second peers. what as our improvement we do That center of from of quarter, end We collections. are at so With but continued far, our the our keep XX% we right We do now July, average believe for tenants. economy many April, expect end tenants unknowns tenants remains the has occupancy said, reduced future see for picks until many going XX%; to
items. me additional Before the Brett, over I let call turn to discuss two
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of important corporate we aspects our to turn over With All commitment Brett. the are these ongoing to call principles that, the of can. best I’ll be citizens
