Finally, executed versus expiring lease rates declined 10.3% on a cash basis, the lowest roll down in six quarters. This is just one data point, albeit an important one, which is a hopeful indication that current lease rates are close to bottoming.On our last conference call we announced the acquisition of Tycon II and III in Tysons Corner for $35.4 million in northern Virginia. Since then, we have not closed on any additional acquisitions. The investment market is still tough to predict but I am encouraged that more product is surfacing.
PS Business Parks CEO Discusses Q3 2010 Results – Earnings Call Transcript
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