The Company signed 92 new and renewal leases representing 190,000 square feet during the second quarter of 2012, primarily with service oriented entrepreneurial tenants that required less than 3,000 square feet in multi-cultural neighborhoods, which drives premium rents. A summary of leasing activity is shown below:
- An 18% increase in total number of tenants to 963 from 813 for the same period 2011;
- An increase of 19% in the number of new and renewal leases signed: 92 in the second quarter of 2012 versus 77 in the same period of 2011; and
- Signed 190,000 square feet in new and renewal leases, with an average size of 2,060 square feet as compared to a total of 266,000 square feet and average size of 3,458 square feet in the same period of 2011.