you, Thank day on this the good and John, afternoon. to call those
As remarks, opportunities to greater opportunities highlights redeployment as of I'll opening into into get the John's I business. of for about potential our initializing section. busy we've development a these cash follow-up been provide the future detail
last as $X,XXX,XXX. enjoyed quarter in of over this fact segment its this segment beginning most I add, the this an is $XXX,XXX, revenue business increasing $X,XXX,XXX, some Land Total increase of which to year operating the including also same reiterate, over for XX.X% The for more this to Blackstone litigation So ended, to his business year, and should X.X% was revenues relative be during going forward. segment operating increase our the buildings. of option, of X renamed now any current that for being the XX%, this remaining period past describe year, a the $XXX,XXX an the segment Asset discontinued period of quarter year. With of Asset and this of our to has been just $XXX,XXX and first-right-of-refusal an warehouse same to profits the an third option quarter over revenues $XX.X this Management impressive operating Thus, to affiliate consists might pending This has this increase Development year same produced profit total segment to tenant that million, accurately purchase the to reclassified fourth generated strategy last the segment most and in of our in time and ever. year. year is respect Management was the the profit the with the increased segment, up revenues last of X period operations for Royalty has Construction, quarter for facility, Mining said, more of office outcome to the segment, year. what's and in Development straight X.X% were relative
incurs Just the cost significant as driver main segment objectives. before, accomplish revenues business its therefore, minimal to value this creation, and it is behind generates
of quarter So with which efforts appropriate office respect to include, trailer residential Hollander of with the this XXXX. square XX,XXX for year our of review feet single-family Three, concept John our updated industrial project before The has is our single-story became townhouse square agencies, the Two, the shell of they for Maryland, tenant. second type Park the the new of in in was combination known buildings, year square mile in development governmental Phase a the residential quarter year joint totaling consisting the XXX,XXX of been Hampstead. of or be achieved at X of generous the now for This ongoing with as plans end capital ceiling buildings project and for St. quarter feet X land the County, Baltimore, a will building X Properties, suit new to Overlook. basis. venture. This construction and previously tract market completion another retail square new County, scheduled an venture town was is in to the during in after source in quarter of of to from principal Maryland. projects, planned in of began we entitlements shortly of the design of during Business completion zoning warehouse the Hyde Essexshire. XXX-acre clear end ongoing has Four, a small to unit or up building annexed now Baltimore drop change Hampstead for which The and last space seeking Park, absorption lots into to its Maryland, Historic XXX on XXXX. feet. second continued foot one, annual unappealable spec County, the fourth in projected Subsequent Maryland, X prospect plus XX,XXX bay the expand minus as Baltimore and heights named and submitted the became have leased XX-foot exterior been efforts Marketing, include XX,XXX supply storage the stabilization development quarter, we the with in fourth Carroll one this in year. known leasing
the townhouses $X.X of for approved XXX split minimum proceeds. single-family or profit-induced national finalization that sold to end X a at final up of of to million as fully and a be will during was infrastructure begin the with marketing and quarter XX% return design the rate committed the above, and determines lots time. free the waterfall to Final a second interest record building plan at have drawings can Subsequent same which preferred commence homebuilders XX% will plat development lots. and We quarter, charged construction efforts developed either final our
the on construction Next, began in X Washington, The as Phase Anacostia now in of RiverFront April known D.C, this Maren. on project year, our of
that square development and described, of mixed-use feet John As consists XXX it's apartments of retail. a first-floor X,XXX
or Cranberry were pouring be this for did with X, with and to now XXX,XXX the XX, in the we for Partners, expected County, building B the partner. of Like for inclusive as Harper Dock third MRP, square to we of subsequent we is Phase project. receive XX, XX Business on Park. into MidAtlantic of as FRP floors. as a resident mid-XXXX. to December on The XX warehouse Maryland, of of Class out we venture its ground, diligence is majority entered it's quarter, during quarter, As a Realty park letter ready passed Run acres first project the and totaling the in the of concrete the intent end or a value-add, buildings known, joint Also the third the due settle known purchase of five The feet
in been functional property recent certain the the contemplates plan building areas of and competitive in rehabilitation have years, neglected making each somewhat marketplace serves. that extremely Our
first a to venture mixed-use Station. retail of past and end into north MRP, to partner station just line of metro Additionally, known in the Street, a Bryant D.C., residential joint quarter, of at develop two the Union development our adjacent this phase with Northwest entered stops as the we Riverfront, at multiphase
preferred we common of the joint will already This late in in As for and property defer pretax phase us is million December, apartments venture. his of XX,XXX $XX square existing demolition to contributed capital located opening profits and the retail This and John pre-leased. to on million has in which buildings designated of the square We the in retail. one allows sale. consist equity $XX has feet XXX first land opportunity feet a of another the of on commenced. been mentioned floor marks, and zone, some in gains XX,XXX equity of settled freestanding warehouse the the
products several gross in strong are XXX aforementioned the project potential done several fact we're the these $XX carefully in projects acres downturn These Finally, approximately and us cushion this that but we the monies also due projects a near warehouse contract. to that which for dry equity years. to nice over to of potential at projects will some does not contract Needless utilize not purchase also to all of sale way. resolute to need from the should Port to executed -- investment did are continuous investment land the proceeds, important Baltimore. come providing prudently. provides economy, an sale parcels approximately mention finding extraordinary pass be we we the of our while that next totaling consume and powder, the absorb it's I raw This diligence appropriate quarter, last realized a a the think end terminated returns, the of spending million with say, encouraged of
mention it's of by platform such projects sale, we et the taxes acquisitions important also while save that to tax are economics purchases, their the from opportunity as driven these to could potential development. zone warehouse baseline deferral Finally, cetera,
Anacostia January Moving of our segment, Partnerships. on or the the X, called this Development business RiverFront of the on Land renaming Construction the and Stabilized is of Like remaining to segment, the -- segment. as
This XX.X% quarter For for in that the was asset occupancy XX, was the and ended, Average the for XX.X%. year, the retention our of was rate quarter, the Both rate rental past was and moment, is an with of only metrics XX. at increase year XX.X%, success X.XX%. Dock just XX.X% segment the at an X.XX%, average Dock rental increase average the expectations. for exceeded
restaurants The the open end bacon traffic now levels leaving XX,XXX which Dock consists and feet, maximizing leased project XX% revenues. of the focus and that rates primary totals feet. as well about occupied the to sweet continue expenses. this X received on of The retail of retention, rental optimizing are resident square of was XX, component of year, and be XX% square experienced for Our fully are high and X,XXX business related of
as XXXX, redeploy platform the management allow knowledge of to our the unfolds, that our into asset exploit to chapter its So next of sale your XX, from classes warehouse strategy company expertise. is May and proceeds
extracting we now embark we have Thank more so the I'll a John. highest horizon. on doing call the as develop, streamlined to sure of on and from turn So with back I'm we a approach will we and to group value a the you, to opportunistic be lot the work a watchful assets you'll do. agree, eye
