- Year-to-date, signed 16 leases totaling 112,480 square feet at an average cash base rent of
$27.49 per square foot. On a comparable basis, which excludes vacancy existing at the time of acquisition, CTO signed 12 leases totaling 103,065 square feet at an average cash base rent of$26.58 per square foot compared to a previous average cash base rent of$14.06 per square foot, representing 89% comparable growth. - Executed an approximately 45,000 square foot lease with a regional fitness tenant for the replacement of Regal Cinemas at
Beaver Creek Crossing inApex, NC . - Signed notable new leases, renewals, or extensions with Altar’d State, Bath & Body Works, Occidental Petroleum,
Total Wine & More and Sunglass Hut. - Year-to-date openings include
Politan Row and Culinary Dropout atAshford Lane inAtlanta, Georgia ; Ainsworth atShops of Legacy inPlano, Texas ; and Fogo de Chão atWest Broad Village inRichmond, VA .
About
We encourage you to review our most recent investor presentation and supplemental financial information, which is available on our website at www.ctoreit.com.
Safe Harbor
Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can typically be identified by words such as “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions, as well as variations or negatives of these words.
Although forward-looking statements are made based upon management’s present expectations and reasonable beliefs concerning future developments and their potential effect upon the Company, a number of factors could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements. Such factors may include, but are not limited to: the Company’s ability to remain qualified as a REIT; the Company’s exposure to
There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.
Contact: | Senior Vice President, Chief Financial Officer, and Treasurer (407) 904-3324 mpartridge@ctoreit.com |
Source:
2024 GlobeNewswire, Inc., source