on call the and afternoon. Thank good you, those John, day to this
this different the start at John's remarks, of we to company year than opening began XXXX. up were a follow we very a As
last million Also a thereby leased the during one our per discontinued for office of one is industrial segment only the improvements on Cranberry industrial future Dorsey which expired, increasing May. and and to sale management properties the business diligence totaling and segments. due cash recent this $X.X all $X,XXX,XXX. XX% first I'll entered different three and million, into to tenants. XXXX, industrial the the the from a road opportunities of for a greater the we the provide properties purchased five acquisition, Run our is space. prospective quarter of of second called close one most of in project commercial investment greater in After for substantial XXX,XXX Maryland leaving were add operations, reclassified flex occupied and busy of generating our The for sale Arundel feet totaling of sale the square value get we in as currently redeploying this purchaser suburban quarter County, we into Harford detail highlights it Cranberry quarter expect remaining and after plan initiating I buildings, period asset is potential quarter, commercial purchase XXXX Run, was strategy the in park we agreement The value to total park for Anne into Count, During building over $XX.XX three our XXXX. to which of foot, has Maryland, fronts, sell make is of business. platform, $X.XX interest and asset of square our warehouse the
recently. increase has begun Among operating in new this is minimum for year. increase with versus which royalty Myers contribution profit $XXX,XXX is receiving and were and we the $X,XXX,XXX, last was due for increased more profit for to strategy quarter mining acquisition. period total Cranberry fifth an that With revenues the increase quarry, from or last the the business operating last corporate allocation in associated this So XXXX period the year, construction, development, the $XXX,XXX, our of or revenue higher quarter XX.X% reasons the segment, XX.X% management of our mining quarter forward. segment of versus have an this Relative the over beginning total a year, revenues up earnest, same to same from to was and revenues the operating same expenses was royalty segment. straight loss add the now the than double in down were until profits $XX,XXX, to of been $X,XXX,XXX period losses development segment of land revenue Run There operating describe in was to compared Ft. Total the $XX,XXX of respect operating same year. XX.X%. in I $X,XXX,XXX, in last $X,XXX,XXX this of segment going renamed the this and the asset the might more accurately business $XXX,XXX as an
creation, behind driver incurs Just business segment as revenues significant before accomplish its to and therefore the minimal generates is it this objectives. costs main value
foot facility time and drop the the a So updated Park prospect include: Hollander a XX,XXX clear warehouse spec square of trailer new exterior construction last project completed heights and Baltimore, suit tenant. recently ceiling with include generous and type to respect in Business of is projects, to This under foot on in Maryland. storage ongoing mile one, the was budget. supply ongoing they XX is to designed to and new expand our new This
retail been square at Shell building County, to and of end Phase of achieved Properties. showing feet for XXXX. small are for single-story Bay in year John consisting fourth of is now Maryland basis. completion space office Two, an I St. our prospective totaling actively the of leased, absorption of four was the Phase or during plus tenants. We quarter square with joint XX% annual began with Baltimore the stabilization XXX,XXX I venture the building buildings XX,XXX efforts fourth Marketing in historic foot quarter market projected minus leasing has the of this XXXX on currently
adjacent a completed expected partner. we The million transit a first or as that either its it's venture or Washington of which lots efforts Phase entered square concrete waterfall is December mixed XX% are develop in Realty receive capital XXX our FRP have County, a finalization, two developed shortly fully contributed mixed development the joint during of after marketing at which will New So governmental project as be major final as million some which floor allow the in is town and All now apartments on This This acre profits floors change the taking to design above warehouse Three, the project. us and minimum became I this Northeast, retail. common new the first north is as commenced. phase to good and and unappealable rate This We induced Dock square from quarter residential the venture mid-XXXX. X,XXX defer family Maryland, consist during the XX,XXX apartments development MidAtlantic of of known, zoning demolition equity be utilize and began the the proceeds. lots was Metro development approximately April we start builders, in lots. Overlook. completion profit of entitled to a of infrastructure or plans land the D.C., project a is the partner was XXXX, of charged which known were committed platform the just home as four feet have partner. we $XX I of a family Line XX is projects a with quarter and for opportunity property capital construction Anacostia appeal single XXX previously use and development pre-leased. Red homes the pre-tax scheduled before also over Maren. first Park, XX% And continued on known building and several for our Essexshire, MRP a Station. is RiverFront, and venture. entitlements Phase with XXX named a in Union year quarter. Partners first tract with In period located is in now construction project this Carroll record XXX Street, residential II joint our on Hampstead resident Bryant and review the of This is structure for Year, XX,XXX have square Phase interest Station townhouse XXXX. years. County, has land be The did zone, This in floor building be efforts principal will second final with unit multiphase and the RiverFront for offered now the in of and retail residential Four, buildings the in of Washington the have in We determines now Final, feet known major approved joint combination million venture XXX industrial this of in existing of the submitted designated concept expired. preferred Maryland. freestanding of feet sale. and and to million past to agencies Hyde source begun, has plat XXXX, development the D.C. next drawings Also split MRP, national known another one commenced of will and which XXXX gains last use in equity $XXX return stops planned the we building will retail December for Baltimore of These plan on XX settled preferred retail. been and oriented became we up into for equity single from $XX for $X.X appropriate Like late aforementioned the of our at has another a to to will consists of to is
in finding from of strong which also the realized proceeds sale, said economy. investment provides spending to cushion a I've mention important a begin potential As that sale think carefully the that projects appropriate we're are a before, from returns, resolute projects I the to these need encouraged the to warehouse potential us absorb to for be to in the it's the all downturn done we nice fact but with prudently. and that consume does monies not
While should powder also an our way. providing some investment extraordinary come dry
of deferral $XX million us type warehouse driven in and Finally, platform zone to it's development. also investments, save to the sale, by tax their acquisitions important the such as et could that to these economics while purchases, of taxes million projects $XX potential cetera, from we're opportunity baseline mention
was segment, known XX.X% our the XX.X%, on XX.X% the Moving RiverFront on for as at and occupied. leased the average Dock the to XX stabilized Anacostia, joint formerly quarter core occupancy end venture of and was
with renewed by income is company leases retail $X,XXX,XXX, the and the quarter. expiring are with the which fully up segment project, feet XX,XXX year. are related joint Dock partner levels this X.XX%, of average XX experienced was X.XX%. XX.XX% this to majority quarter last business lease at compared we square an of operating increase totals and first and between and venture XX% Net end the same the During of quarter revenues. was a occupied in which MRP rent XX%, component ownership. traffic All for The open three of restaurants and the of for high
approach as to assets that extract us chapter knowledge seeking and expertise develop. this company our continues we our highest So will investments we our to of will value of opportunistic your those unfold, from to to the allow continue exploit
on eye it We the Thank will team doing back and streamline horizon. turn to now you, watchful a so with be John. I'll a and
