COVID-XX First health, all by ones hopefully, families, to sooner than you saying joining have that you, loved through begin today your together, rather remarks to do I'd Industrial maintained thank today. hope for like and Art your get necessary we all team Thanks that later. what's while the entire and my us
COVID-XX the U.S., impact stay-at-home it's the to and economic of respect With early. still measuring related eventual orders in
we stay-at-home will of orders our eventually outcomes. are about gain how impacted months, reduced lifted, actions wealth knowledge and coming the if Over a
our While it's has results, still weeks. early, but especially we are performed only how past team extremely about during the six about strong QX not pleased our
to to productivity teammates while from social my customers, maintain risen largely have of responsiveness and home, protect and high communities, occasion, First distancing thank I'd levels our and our like working who to to each practices customers, our Industrial other. employing the
an place shelter country, to Due of short orders commerce. the most in period a to likely second impacted in a is and significantly in the time, at significant the GDP. reduction virus quarter alarming of and Unemployment show has is rate increased the
in were Prior place majority of to the shelter our orders, well. businesses the vast doing tenants
their So, bounce will that the as restrictions and the reduced or be. overall social hopeful removed, we're whenever businesses distancing may that economy back are
we with financial to start conversations, late tenants relationships government. knowledgeable value our In saying from now rent get make and March, I'll an experience. a by about them. relief contacted our collection they were to of of sure our effort these in number programs tenants we to the Moving available the recent our ahead
have bank had relationships, them of not to one firmly to resources customers we cases In our established in may them where our process. assist financial the willing referred
them available an application the walk resource We through also internal made process. loan to
XX% the before experienced of in billings, we end March, collected COVID-XX. we of about line was what Through with our which March
X. we have collected billings, includes XX%, April For as XXnd, Pier about which of April
being receive impacting or is jurisdictions enforced, we evictions billings to April for moratoriums aren't negatively in have yet two-thirds For payment, on have which are currently which collection. which approximately evictions,
in reserves our additional updated will we're COVID-XX, which walkthrough X the to early debt, Because phases of of bad an shortly. experiencing million of it's prudent the Scott in economic for impact guidance include
relief rent clearly April from from rent of abatement to requests requests of XX% in billings. deferral the rent our well-capitalized our form tenants. Including requests now those tenants, Moving represented for relief or total approximately
terms, for This X% the of subset of a feet average tenants of represent ask occupies including an which our industries. this rent. represents that April had only XX,XXX tenants well-capitalized approximately and XX% square April Excluding broad paid and specific billings, range of
this rent and you provided what many legitimately time, of it's how hope rent tenants not we At idea clear we've will today. information granted not of experiencing we've require range We are relief. gives relief the an
when will financial infection is the phase decline flow when to We begin in point to and try of to tenants a this our to say, picture. out through the in and health. businesses place or rates Needless restrictions won't how time will predict shelter
Moving in to requirements substantial to general by businesses, number related range across our a of a food were and led there COVID-XX, activity markets, representing new Prior now the uses. e-commerce markets. but broad leasing of
rental of we our In had XXnd, consistent is rate X.X%. our of portfolio with our past as signed which several XX% of expirations, cash XXXX April years. have These increase signings the lease a experience
seen we few most our vacancies, of Over around the slowed has the have paused. activity weeks, or leasing past but conversations on some pace of those
part for developments we end the of to As of the have the year, two of our walk out revised shortly. Scott our a guidance, as through which pushed result, leasing will assumptions
e-commerce our which of feel routine the as necessities accelerated long-term virus many The demand. We adoption needs, for about COVID-XX future business. good for boost very for the as consumers should well prospects has
as an due should incremental long demand factors in now. All-in-all, expect shortages supply the these industrial inventories such shocks We in for to to provide space. cushion drive run, also we're product chain experiencing increase against
this we meeting our of $XXX closed early to $XX the our Moving to portfolio million today, on range of $XXX $XX to to way million year on sales XXXX million. dispositions. We've we've in sales on closed in guidance February. Through million sales of closed addition Tampa
we call, end expect loaded As be noted last back the on we sales in our year. to
in sales in which the purchase million the sale quarter, its our the XXXX. third that expected Note excludes exercised $XX guidance Phoenix in tenant option
on process for our flow focused is sales our growth improving maximizing while shareholders, always, value As profile. cash
time, opportunities to investment judicious in new liquidity. near our continue be point term maintaining about we with on think this capital emphasis with will a at we As
square in investment March developments of with which feet We all XXst. at million total X.X process, totaled our million $XXX a are of and proceeding
time, this at new planned development First speculative the are At of will targeting market. continue Miami, includes we This our Park, monitor we where summer starts. postponement start any not to the
permitting, orders, projects impact are Due approval certain some other our seeing COVID-XX, to the distancing slower of suppliers of deal contractors we requirements, with social delays in and restrictions. in and as shutdown
foot halted subject to entirely be will guidelines. although group, May been Of XXX,XXX our on those deemed as of this forthcoming Xth, construction restrictions development only non-essential, Philadelphia square restrictions to statewide has due lifted
these our in of XX page we've of result delays, you dates a our that completion see will As estimated accordingly. supplemental some adjusted
to industrial were the we X market Let me investment vacancy recent greater market, Center, billion some sub is totaling XXX,XXX forward, the a acquire In Logistics Ridge activity. under where in Nottingham X%. recap Baltimore square development February, pleased feet
frontage Today Park has we interest Baltimore is seeing is of The it of XX% on at the space. intersection just pre-release, located XX I-XX and and of Route-XX. remainder miles the of north the port are the good
X.X%. expected XX to million, is investment of yield cash an estimated total be with Our
in we In the the X.X%. a price the also yield of completed of buildings second and million first two total for of to-date, a California quarter of purchase weighted XX East at Northern quarter Bay market average acquisition
the in property So, a square in Freemont XX,XXX The building XX,XXX Both corridor. a foot other I-XX XX% are and square foot Hayward. in buildings occupied. is is the are first the
Miami million. developable that was We foot redevelop. $XX.X we square Southern site plan XXX,XXX Land, we million to also The acquired square to is South price a part to in in XX,XXX a for the acquired the purchase quarter Inland East Los addition first nine California Angeles In in in building in Bay Empire first also that the X acre the feet.
front, a million totaling service square Development placed X.X%. development Ferrero our we a the of $XX yield at Build-to-Suit total On stabilized with investment XXX,XXX feet, and in PVXXX, of
me With that, over to position guidance. turn Scott? Scott sheet balance let our to our discuss results, our updated strong and it
