Looking at the operational components of our business plan several of our markets have a positive pricing dynamic and in these markets we continued seeing encouraging signs of rental rate growth. In all of our markets we continued to benefit from a flight up the quality curve. Our leasing approach remains tactical and is sub-market driven. Our stronger markets Austin, Philadelphia, CBD and the Crescent markets in the Pennsylvania suburbs are experiencing increasing rental rates, lengthening of lease terms and downward pressure on capital concessions.In other markets we continued to pursue absorption through expanding our market share of current tenant activity levels. Levels of activity in the Philadelphia, CBD the Pennsylvania suburbs and Austin Texas is strong and solid. These three operations will exceed our original business plan revenue forecast. Conversely we have not seen a continuation of leasing activity that we saw last year in Northern Virginia. In particular activities and levels in that market are below our expectations and we will not achieving the 2012 spec revenue levels that we originally anticipated.
Brandywine Realty Trust's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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