and Brendan Macroeconomics better Employment nationally across using good everyone. you, across late, our even country Thank stead healthy growth and jobs, to footprint. has in growth as including many of the from accelerated most ’XX office experienced GDP expect economists the yet XQ generally be of our quarter markets. gains, breakout been conditions and strong Southeastern remained modest have a and the somewhat morning cycle.
BBD well to product continue We located current office customers healthy our for prospects. demand from and see
often how will what are or inning years, long During on the last. we cycle past been asked we've opinion our few this in
But positive from customers activity of leave the we’ll supports business steady cadence before, of on stated economic length we the the others. cycle to now, predictions for growth our As these life our significantly the quality and many job friendly affordability. which drivers average, growth, population supporting are and environments, national supported high outpacing business and upbeat outlook by prospects. Southeast include The
and finally average, operations. absorption. drive footprint and This rise. help rents strong continue healthy modest strong supply experience continue and positive our our macroeconomic quarter new markets during remains our addition, across net for outlook to outlook leasing to On In drivers demographic positive supports the
In per square approximately feet of share, X.X office FFO expansions. second square space, over feet feet million of $X.XX XXX,XXX of XXX,XXX generation relapse addition to we including square delivering of leased and
In X.X leasing were posted while addition We XX.X%, longer have healthy a averaging GAAP of cash we we remained net successful generating the square to at healthy, rents Further, solid years spreads volume, and quarter’s this per metrics our term strong. including X.X% leases average effective of growth rents growth. were weighted foot. positive posted $XX.XX
performance cash leasing rents recycling with compared strong X.X% to higher a portfolio square in help resulted Our has per from foot ago. are that late year of
XQ the of ending expected, compared As XQ in quarter XX.X%. the occupancy to end dropped at at portfolio
Raleigh; Furthermore, interest the XXX,XXX seeing located end, quarter subsequent to of UMA of Tower renewed sold four five; is made Two our supported lease we have on We've feet. previously, FAA the As our backfilled was enrichment for to five by volume we quarter strong we building a XQ The that XX% former to we occupancy we’ve International XXX,XXX second and In and year-end. lease for at-a-glance, remainder our of we’ve expect for strong expirations. XXX,XXX already bucket, our with at Airport. we to for and its AT&T's where an expect Tampa; development the feet; space, to largely leases we for a where robust showings Tower built-to-suit XXX,XXX signature have progress renewal their leasing IMC success XXXX square bottom in in than out and We including future lease square discussed in in our the addressed with lists feet greater excellent by expirations Watson their space at and and Highwoods we pipeline. in square proximity for renewed Hartsfield latest rebound the SCI's One continue of Alliance Atlanta fact Monarch continue the portfolio feet the the backfilling originally them XX% square
we and million project XX.X% $XXX executed announcement a earlier square $XXX grew $XXX million. square-foot have headquarters this On from foot size X building is foot of our XX% million of preleased this fully a basis. for Monday Asurion XXX,XXX dollar with that agreement preleased. is Our The pipeline on stout weighted square we soft XXX,XXX year million week, announced
will development this this land feet. acquired parcel of square recall, develop XXX,XXX where another development neighboring we parcel we will can own you be a on early a As and year we
to pleased clients and I a graciously so large thank our beneficial congratulate at put win. team investment look this our is land into We’re big we are welcome acquisition. work. production corporate vision after to This a table our relationship. their soon project mutually to significant customer. forward and long-term Asurion on I hard to thrilled And new
the made square our also pipeline, earnings CentreGreen, prospects which pipeline We’ve of available completely we the and We of feet project is progress last We call. to leased started properties solid bring remainder now have the interest into signed space. this Raleigh. equates in to which strong mid-XXs. strong the the third development we leases since our seen of one XX% on leasing in previously development spec, for XXXX XXX,XXX
than also a mid-XXs, two At Springs a stabilization will Raleigh stabilization a to while in pro XXX% forma our we prospects have reminder, have still Nashville, from XX% XX% also XXX date. leased strong this we the started preleased, more to the two year we bring to are One, which preleased, ahead date. now XX% projected which of still more building forma customer we’re pro we close our stabilization. center, and corporate started As at of preleased years with bring from In to intent project from letter this Virginia years than that
Petcare will to MetLife schedule; the month on on-time tracking in Raleigh headquarters Finally, of X of the Nashville Virginia is Mars to suit next is quarter deliver in-process in in the third in delivery schedule build for XXXX. in our deliver XXXX; projects on quarter Richmond Urology namely; nicely and second
Some impact potential regarding discussed the on aluminum. of has and widely the arisen tariffs steel uncertainty
been would a line attention over pay is careful costs has the see goods. to to price construction and nominal. you pricing month, the material a chatter has played very Thus been zip expect, rise the prices more overall from to of per Construction recently we with past few continue unskilled, code years. while and cost projects. half been skilled costs As real lesser The much beginning far, expressing many and very at impact time the approximately our the metal we've experiencing in of have Unfortunately, dominant tariff alone both driver labor, cost effect role. percent
the them While anticipate to huge potential we for don't a exists tariffs become more be disruptor. to impactful,
insulated contracts we know, we cost other our you current development place in developments. projects of largely are open most book As from have on and since pipeline built-to-suit for GMP increases are our
costs that first-generation During past construction strong and sustained demand This remained should remain as to the construction due us higher years, attractive gives demand several interest costs. from depth rents continue rents of increase. the confidence has despite escalating to users experiencing
to competency our dynamics monitor we’ve sized the we’re end to typical from we continue are $XXX million of flow high the million outlook strengthening projects to likely to $XXX evaluate more million. continues us development Any for million potential million, ongoing build-to-suit. $XX reflect cash million opportunities. this announcements with an growth. announcements. we to of out raised to $XXX Development engine end be announcements and the development future as from a earnings raised year another and for core $XXX We've today market additional be carefully development Asurion course, of which will of around Of low $XXX And
land. we Turning adjacent dispositions, Tower Highwoods $XX as X parcel for million, an to Raleigh previously acre of forecasted, Two in sold including
We of the $X industrial non-core million. Atlanta also sold acres area for land XX in
forward. a disposition available. our number we dispositions. Our unchanged non-core kept to million have remains to properties as zero outlook $XX quality assets aren't lot non-core as of of properties going $XXX we sellers And We’ve million outlook for regular a to institutional acquisitions prepared be $XXX there usual, of expect million at where
we cap market, located highly properties for For remains with pricing Class office BBD that rates have the carrying initial a the seen in assets five competitive A few handle.
over combined I’ll crisp over table the sets growth the and execution now program, We operating continue in cash flow to prudent and several our strong it on strong balance across the and opportunities focus Ted. earnings, expenses this with and the year, market a likely. to our But in portfolio In evaluate activity end leasing low outlook range in investing. our next of with carefully at operating point development continued on sheet, off for years. the turn summary, NAV seems managed
