Concerning our results for the quarter, FFO for the first quarter of 2012 was $0.74 per diluted share. We had solid leasing activity totaling almost 1.1 million square feet of lease transactions including almost 3,000 square feet of new leases. Tenant retention was 61.5% of outgoing space. And we ended the quarter at 87.9% leased compared to last quarter's 88.3%. Rents rolled down in the quarter by 5.4% cash compared to last quarter's 7.2% cash and so we obviously saw an improvement there. Remaining lease for all of us for 2012 are 7.3% of base rent or roughly $45 million.Our leasing cost for the quarter were approximately $3.85 per square foot compared to last quarter's $3.33 per square foot per year but obviously this figure varies depending on the type of deal, the length of the lease etcetera.
Mack-Cali Realty's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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