all $X.XX share, Thank and reported of FFO thank is core Yesterday, you of we consensus which a estimates. per ahead for joining penny you, today. us Tom,
SVB Securities operating about at Avenue. Front lease talked the financial First metrics by at impacted quarter One second Street Republic lease and XXXX and Our were the much
will cover impact these the items operating of on Wilbur our guidance. Paes results and
minutes those few me recapping transactions. a Let spend
all XXX,XXX One Republic our Street. $XX X.X% our you which tenant know, feet at approximately They leased of annually. represented million largest about to over equated As Front was annualized First and rent, square
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began and and the what didn’t June, for That discussions sit effort, the Morgan. outcome. outcome, could have terrific the We which been. JP back negotiations culminated what with especially a believe onset, was resulted just wait Right at we considering in we from of end
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but the about desirability the were testament we the rental and outcome XX% style. of XX% All-in-all, of management The retain quality the a to not able hands of the revenue. to only our is over occupancy asset, proactive on of also
to the forward platform. figure post needs, to their long-term as the Morgan JP welcome to out delighted the of working the future, Portfolio. in with are they them Paramount First We We integration look Republic space
First also Valley Republic, we of to lesser by addition were the affected, to extent, albeit Bank. a Silicon the failure failure In of
Bank. of Financial Group, the Securities, parent the at XXXX Valley Silicon tenant subsidiary Our SVB SVB company Avenue was of
was going engage SVB outcome for of Securities. we to bankruptcy the entity that of acquire the directly choose wait rather than to proceeding, that assets Financial for filed Group with bankruptcy SVB and the
The square on with is should original for although the lease entity acquiring point square I is The short-term XXX,XXX basis. also was feet lease XX,XXX feet, leased square for feet. out new XXX,XXX that about
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to operating our businesses. Turning
to be inquiries XX.X%. the second velocity and portfolio the steady was reduced are an Our leasing increase basis XX we York and in tours. continues improving. quarter, in to market Notwithstanding New Occupancy during up the points experiencing
are improving, as been have businesses to Utilization the more more returns and consistently mandating figures office.
tackling, While at and vacancy and XXnd XX Avenue, block our New we York large in focus continue blocking the fill [XXXX with at (Ph) primary West availability existing upcoming to Sixth] Street. our the is
light of providing that atrium finalizing at amenity at Sixth center an XXXX which service, for main A feature: lounge auditorium. elevated we wellness catering XX,XXX in large a To are room, XXX grab-and-go center, end, final a beverage XXXX game and a stages The and base room, the and will person plus ample training offering be natural food a of studio, area, double-height foot into will cafe, square our the amenity a the Avenue. and
Paramount been the be alike sharing from more to We will and existing has tenants The reception you brokerage months. amenity stupendous. all center coming and The forward look to the the at campus. available community with tenants prospective XXXX in in
feet. there demand that San in increase of Companies. New vibrant the square XX,XXX AI While for searching Francisco our an continues Many utilization block become have of by in in portfolio streets excess is suggest, of are to figures more those have larger rising. York, consistently driven been space months lag and data of recent San Francisco Recent
To-date, transaction Turning market. few markets, quality have rates coming interest to been to elevated to and the subdued there remains assets Activity spreads. equity due wide bid-ask volatile very market.
underlying been supporting A value activities the intact. real for recent part has and that, some Class there of optimism most signs and Trophy showing view However, of estate remains our the
the in ours, reflected not including prices a of certainly public stock long-term REITs, market run office is current mindset. we business with our that While
gateway Trophy stood investing Our is of Class that the strategy will markets one coastal It test in A has time. in again. of Buildings and
that, the Peter. I will turn to call With
