for clearance for delivers results, and good delivering experiences elevating strategy both reflects reliable attractive our as and a and our diversifying as productive which providing solid platform another and pleased Steve of our channel opportunities. value earnings curated, announce which shoppers and filled sales morning. model our offering well tenancy engaging of Thanks, quarter growth a to am I retailers a
are momentum broader We growth, anticipates continued the in forward introduce the taking last even face and guidance Nashville, which XXXX, opening for uncertainty. in leasing pleased to in expected continued execution And year Tennessee we of of into newest to grand macroeconomic from the our September. look development effect our
delivered rent strong In X.X% leasing, attractive increase NOI, same was and occupancy XXXX, a in center spreads. which supported by gains we robust
square increase year. executed leases, $X.X $X.X the we million executed year, from a the XXX feet representing last XX% For square million feet,
realized variable a and pricing X.X% the This For XX retail rent fixed spread, a is and the for we demonstration result retenanting Tanger. convert rent trailing that months, spread rent distribution to of power on renewal a our of and XX% a performance and consecutive clear ability air exercise quarters shopping an place the outlet open of leases. improvement channel centers. seven XX.X% on This importance our to strong representing blended is includes these retailers
at XX%. to and year even growth spreads level, retenanted attractive occupancy on meaningful have Our we But convert continue rent a realize renewal temporary we the space occupancy. points as year-over-year, this basis by and at XXX to ending space both increased high opportunity long-term
drive generating an Tanger to strategy occupied have time a occupied by other growth GLA portion overall additional leases. ability Our With both tenants longer approximately term these tendency, as over our rent role temporary of to or of the the up in space, currently convert pop short-term we to temporary in as our new effective while occupancy platform. and introducing serves XX% important revenue maintaining
our leasing to like highlight. would is numbers, the activity quality I Beyond the of something
tremendous made a brands this objective diversifying digitally entertainment, prioritized have on new our and and to and brands. food And our native We we years have since at embarking portfolio. progress home elevating ago, beverage, X furnishing,
with amenities open-air dollars of for goal a best brands, our longer elevated the at spend ultimately creating improved the engaging stay and and shoppers best-in-class beverage, curating who our more more With experience environments centers. we food are and
are quality importance and to with channel of their the of We outlet pleased tenants operations. the our the
maintain list, mitigate work we While a proactively it tenants is list We minimal. this with to risk. watch and manage our
year’s of year Traffic for for basis was the last historic anniversaried XXXX approached as the comps full basis XXXX. points for which December. in for reflects the points country winter down that impacted fourth and we Traffic much XX strong XXX levels quarter, the storm
we trends the into have uptick in as encouraged traffic However, we by New Year. and an seen are current post-Christmas
Total by as of steady spending we reported environment faced we to year’s to a in inventory saw gross benefits levels centers by last shoppers. promotional more remained year, last tenants for the a where sales retailers compared stimulus our and tight
Our slightly expansions compared sales the square sequential by in the prior impacted the well during occurred of included period per square retailers that foot, however, $XXX foot, down was the year. in to pool as retailer on mix as roughly basis the per flat XX-month a comparable change at
We start are to activity our encouraged leasing quarters. by the in our benefit of new see outlook the coming as we
marketing, and to ability refine and with drive results compelling measurable productivity part relevant attributable content. which increasingly is to we sales continue Our our in achieve performance help enhanced to
centers our sustainability sought Tanger brands media with to and from to gain marketing revenues platform Other and value grew continue efforts. derive through partnerships, national shoppers. local, as visibility XX% incremental for regional our We XXXX
revenue is on media the given ahead. believe proven to investments. infrastructure seek a We on planet to our of brands. audience years continue a the clients value have unique our positive runway build evidenced its from driving in Tanger with additional sustainability the campaigns and by scale to positive repeat impact We Through initiatives, to national and returns while our stream have this we quality our several
electric investment announced across stations and recently our in to our adding solar several goal include In vehicle doubling achieved our energy, we charging renewable by These centers. carbon XXXX our be already August, neutral infrastructure and have milestones.
Gold attained also have additional X We centers. at an LEED Certification
Now GLA of is our over LEED XX% certified.
XX% which underway progress to committed. continue of our year. is and September We opening lease Construction over grand on on Nashville well for now in this track is development,
community Our brands, X% elevated will of layout, X.X% with anticipated stabilized food of feature center and and shoppers, beverage for sense Nashville feet best-in-class and an our national remains unchanged. GLA entertainment This a Tanger tenanted XXX,XXX add to will place updated retailers yield of design Outlets’ square which activations. enables and concepts.
demand encouraged in volume. robust by realized leasing executed have Beach, are have Palm Beach. we the rebranded center, Outlets and tenant we Tanger we have that Palm We outlet where the To-date existing success achieved strong
welcoming the during CEO Citi forward in to are to investors Conference We center this looking upcoming March.
Looking for well positioned ahead, we growth. are
and tenants. has occupancy still while providing tremendous and value at ratio X.X% Our retailers We cost believe the we past just over XX points significant our basis year for rent have for runway to XXXX. increased realize increases, by additional
We have flexibility balance model our a invest growth. cash us flow in solid strong the free that liquidity and generates and a provides to sheet, with which
continue to shareholders our well and to return We through covered capital growing dividend.
organic our while revenue driving growth opportunities additional other external through and pursuing redevelopments activating centers are We selectively value growth. at unlocking
member, Bilerman, team’s quarters about I this I years and talented we capabilities X and their excited over CFO past senior team. Investment Chief to Over shoppers, pleased support. call now our our Michael am results to retailers are senior be entire ahead. to continued newest immensely turning in Tanger’s am thank the our and team, want and for experienced in all I assembled an continue value will and years, our This the have management the XXXX to of we our team evident Officer. create stakeholders
I’d now the like over call turn to Michael. to
