you, Thank everyone, welcome, our call. Art, and quarter to third
the market you another favor landlord. quarter. for of towards all saying to strong Let team me industrial your national start to the thank FR entire by The efforts continues
upon high growth in rents We're and pushing leasing on of which touch continue Given shortly. demonstrated to low we occupancy. broad-based vacancy see levels results, will as strong renewal I new rent our and and demand,
total million recently and econometric first million feet exception larger supply quarters of the completions the a feet currently of buildings. with XXX CBRE primarily for the and the absorption or net quarter That submarkets in brings of oversupplied in XXX square preliminary million XX is format overall third of that completions. reported few X of more net absorption market From advisers to the square less of new a square standpoint, feet XX are million. year equilibrium,
portfolio was rental Occupancy quarter quarter. up produce results to Our continues quarter at third was the in strong commencements we the end eclipsing and growth results. XX.X%, XX.X%, for rate cash reported record second
on year XX%. full and in to our XXXX, rental rates approximately renewal XX% the cash For we increase new to be expect leasing
years rollovers. you As let have in our update in past, on me XXXX past, we
As cash of today, we have rollovers of a XXXX signed our X%. increase rate approximately XX% of rental and
you from in leases date and Our rent. represent context, provide Southern XXXX of the includes California a Southern to some market California. signing just geographic To high our XXXX, are in distribution XX% about three net of growth by rent broad small rollover
anticipate For rate process, on call. expectations We're we or it through we'll to our and minus growth XXXX, update on for be our fourth XXXX budget currently XX%. rental XXXX you our for going quarter plus
continues for befit and team third is the square customers. growth form quality and margin development XX%, we Combined million FR in markets projects high to X.X totaling comprised Central occupancy total These Houston, developments of Atlanta. $XXX their in XX%. these of our feet, were quarter, The is in program. development build-to-suit projects a service investment placed buildings our Chicago of with In deliver million. supply approximately our service Pennsylvania, to Turning the of needs and X profitable chain respective the
completion now development our In New be in tenant Crossing We which First upon portfolio. up for fourth Jersey, III in the on quarter. third Central lease we of a quarter, XXX% immediately Central Park the continue make the progress square-foot will our XXX,XXX to at generating signed income of
We Seattle leased. in to to square-foot signed that XXX% bring XX,XXX our also building Center at Logistics lease Glacier First a
quarter, we location in efficient the and submarket tenants a on rare this is will space. in be a modern XXX,XXX infill This starts, new commenced option Regarding square-foot construction third for Philadelphia. great building looking in a in for project
Our estimated is investment targeted X.X%. million, is $XX.X our cash and yield
in cash X.X%. buildings have total third in quarter far, is the Thus near of a West. set II Completion Estimated Inland with for in we facility construction fourth on Fontana investment Redwood $XX.X square-foot quarter, million, First the yield commenced construction Center, of Empire XX,XXX a our the XXXX. Logistics is under
Dallas of the a Northwest building. off the In cash first start XXX,XXX X.X%. First on $XX.X a at Estimated preleased phase with fourth to XXX break ground building second already of Park good is We're target to investment a year as square-foot our million, quarter, in XX% of yield the we've expect we development.
rate feet, September million Summing yield $XXX leased projected With developments projected similar in X.X margin square on of up approximately pipeline as our we development of batch development which to lease leased XX% compared at of of cash market is construction X.X%, a a total assets. million XX, had comprised prevailing of today. cap for this when our is up, under of average or XX%
In a sites the markets. adding These replenished XX to $XX XXX,XXX X totaling in up cost accommodate square Empire acquired feet our entitlement. new for can the of third acres, million. pipeline quarter, some barrier-to-entry sites space development upon We well-located in Inland of also we by sites high
in of X-building also a the Florida First ground lease square Commerce Cypress We into future a feet. Center, for totaling entered XXX,XXX development park South XX-year
We break expect few months. ground to next the within
targeted cash X.X%. million, Our of estimated total investment with building $XX.X for yield the a is
In South for are is is XX.X-acre X ground market This square land covered in below Florida we've a the currently site leases up a investment, to feet. million. to $XX.X The X.X%. of that with future acquired site fourth redevelopment XXX,XXX for yielding date, quarter earmarked
The These the yield properties Orlando, on we million. is closed property and Empire. $XX.X are square the San ultracompetitive, estimated X.X%. a on during remains stabilized cost totaling market X acquisitions XXX,XXX quarter, these in Diego While of acquisition third the Inland at feet buildings
of land Moving in to for a million had in of quarter. very to parcels remarks. for purposes, in a sale QX, We sale dispositions. is third Phoenix, of expected several recognize quarter his of through In feet that X.X tenant were the the the total $XX accounting close The million its sold million. we which to Scott in walk option. exercised the we Note plus more active details the property purchase during $XX.X square you XXXX. will
the XX,XXX in feet far an total to sold fourth $X our sales Minneapolis year-to-date million. for we square Thus brings in million. $XXX This quarter, additional
million portfolio appetite to are a continue $XX industrial full broad the the $XXX management our range refine of for midpoint portfolio, year we to the for Given properties guidance efforts guidance million. increasing by sales ongoing at to $XXX new and million
in this will additional in excludes note invested sales be the primarily price sales of just strong speculative growth that guidance development Please These the expected that opportunities proceeds building rental in range Phoenix discussed. future I markets.
additional temporary in such, from cash would these dilution flow sales. we As some XXXX expect
With me details walk on through to turn let Scott and over to it the guidance. that, you quarter some additional
