Leasing spreads continue to improve compared to prior years. On the total property portfolio level, at quarter-end, we had a weighted average lease maturity of 5.3 years, with in-place leases going out as far as 2024. Subsequent to quarter-end, we were successful in leasing out 1 of the 2 buildings that did not renew this year by entering into a 5-year lease with hepdirect for 100% of our 107,000-square-foot facility in Winston-Salem, North Carolina. This lease commenced on August 1 and brings our current occupancy rate up to 95%.With regards to our capital markets activities, in June, we announced the closing of a preferred equity offering, which generated net proceeds of approximately $55.5 million. This offering positions us well to continue to execute our growth strategy going forward. In addition, subsequent to quarter-end, on August 2, we reinstated our dividend reinvestment and shareholder investment plans.
Monmouth Real Estate Investment Management Discusses Q3 2012 Results - Earnings Call Transcript
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