Brendan, Thanks, morning. and good
by start around are after our meaningful in Based normalized markets. nicely. continue and particularly a recovery, across over recovering The across quarter. Day. customers, the currently to saying and see concerns both variance. more progression Utilization portfolio, are XX% in utilization and to expect an quarter up throughout rates leasing increase It we risen with XX% parking second pandemic our increase our have discussions portfolio on last predict Labor from the difficult economic and we activity remains the me the Let of given the
square accelerated deals. average hasn't our the was ended square of leases, the last our feet leases in This in long-term new deals. feet as We across shown for the activity XXX,XXX call, our where quarter the second-gen during occupancy long-term will the square feet of up since XX.X% deals. and mentioned relatively second our signed above trend leasing quarterly This leasing XXXX I XX quarter new stats of us leases. in since fourth the quarter quarters highest activity highest benefit As XXX,XXX Also we new quarter in XXXX. yet Obviously, new is strong especially our count our of above of portfolio. XXX,XXX quarter, leasing future in. for new and solid, customers signed new first included entire at This move on the our total average we
the believe we forward. our past the With signed improving on we're going are reasonably they markets, over were up holding pre-pandemic, be macro leases little well challenges environment, considering in continue months. a the especially to optimistic than XX softer Rents but
X% to of square across concessions. Overall, slightly rents pandemic, negative XXX,XXX signed while on leases on a XX%, basis. the the X.X% the spreads GAAP are second-gen up the of average, quarter, at down, as net basis, markets result on For a during rent X.X% of our higher effective feet were start a since primarily down cash
to the Fortunately, continue of well-capitalized see FFO $X.XX second to delivered net in results. the effective rents first We migration to share the higher-quality which half buildings have year. Further, quarter. a owners, of stabilized plays per our we in strengths with [indiscernible] our
the strong rent benefited the first NOI the XX.X%, of at Our during from agreed moment deferrals which months pandemic. very was same-property growth cash of temporary to
still a cash growth same-property NOI robust X.X%. would repayments, Excluding have these been
$X.XX our our per at share, of is increase $X.XX As FFO to the to the illustrated $X.XX planned night's additional At which the in XXXX assets from outlook. $X.XXX $X.XX we $XXX million midpoint release, due outlook of $X.XX and to existing year-end. outlook have midpoint, last acquisition consists the updated the operational of the prior by PAC our of up improved $XXX our investment from of to to and an net activity impact million is non-core anticipated sale the
to outlook, X.XX% our have raised FFO basis we the also midpoint, growth outlook and at up cash occupancy property NOI X.X%, increase in outlook. our to addition end low In the points our to the increased XX we same of
is Our new range XX.X%. XX.X% to
investments. to Moving
and million you a acquire mid-XXXX. assets excited by the agreed from As of million our accelerate the gross our office proceeds position to quarter, Raleigh. Preserve downtown in the to leading XXX% and North of all and in We BBD Hills a have disposition presence PAC South in closed We're in for doubling X assets know, the about million. $XXX leased $XX entering VII portfolio Hills to of of North Tampa $XXX adding we Charlotte property Raleigh BBD, entering sale non-core in
of other numerous have properties We process. marketing the non-core various in stages
are $XXX already is of target of plan the to disposition we $XXX end well Our including we in of our closed. tracking pricing both million by And meet our believe terms and million non-core $XX million sales positioned timing. XXXX, the expectations, of to
Rest growth while in highly from to opportunities. non-core caused BBDs disciplined remain on job allocators fuel be executing competitive. to additional pricing has assured, closing risk-adjusted opportunities plan, of I capital will which assess our seek continue Sun assets believe are for on and the we we disposition Outsized continue high-quality our focused healthy that in mentioned, continue investment we PAC those As acquisition returns. only interest provide growth markets we and of to markets, the to portfolio Belt population and
Turning to development.
pre-leased. XX% $XXX Our pipeline is million and
feet our [indiscernible] Nashville project the At in quarter. BBD in in $XXX II, fourth interest time to is stabilization, We Brentwood signed quarters have during XX,XXX recently deliver on and of the Nashville. the Springs lease forma totaling square which Virginia ahead Our brings leases additional delivered project X will million rate budget and Asurion we X space. strong quarter, in of pro the XX%,
Midtown Tampa. our office at Finally, project in
in project whether customer the for users, outlook The with have from project, the quarter, we additional and of during strong retailers energy leases the finishing shopping residents, interest office remain and around long-term [indiscernible] is number any just now development. the mixed-use a dining. [indiscernible]. find by overall the didn't we from prospective While There confident Midtown growing up opening is prospects new
In starting anchor from prospective We build-to-suit believe office to interest sign increased fundamentals addition, see this and we are return markets. another customers. healthy to a across of our is
over than year. other $XXX land items development, of to up the potential announce our have and billion before support in the later future call Brian. we I turn $X XXXX new for hope We Two million that development announcements of bank more in can to outlook to projects the
announced dividend strong which increase to to This coverage strengthen, We've equates amount of even XXXX. annualized dividend since which of start of evening, amount. dividend with payout. quarterly our that the continues cash $X higher per First, last over an It's a long share. stated the fifth increase X.X% $X.XX prior provides flow our we represents an our
of CFO alongside of has as exceptional Mark the to and family, also decade, on wish a been balance I CFO. he work say wife further last I Second, reporting already strengthened and the contributor and upon Under we Mark. evening, his We strong that [indiscernible] the entire stewardship, member the the will long-standing assume into know himself Brendan Mark the and Board a of an the and our Highwoods role the Highwoods as I'm sheet, of financial we fortress this announced privilege transparency maintained second at it over year. to plans retire retirement. has best continued been our behalf streamlined processes. accounting as departure. Mark, our rest Mulhern have end and to past as our might Mark's first family Kelly practice thrilled candor promotes Mark's
financing his leadership day of to at been As XXXX, Highwoods key all in he of you deeply since our involved investment all has a first strategic team activities. know, Brendan and been in has contributor our and May
We expect Brian? seamless a transition.
