81 Leases Executed for a Weighted Average Roll Up in Rent of More Than 23%
The RMR Group (Nasdaq: RMR) announced the execution of 81 leases for approximately 2.7 million square feet on behalf of its clients during the three months ended September 30, 2022, including 32 leases with new tenants for approximately 900,000 square feet.
Adam Portnoy, President & Chief Executive Officer, made the following statement:
“We continue to see strong leasing across our platform with robust demand for high-quality and well-located assets. During the quarter, we executed approximately 2.7 million square feet of leases on behalf of our clients with a weighted average lease term of approximately 5.8 years and a weighted average roll up in rent of more than 23%. Total leasing activity for fiscal year 2022 was 13.6 million square feet, which represents a 28% increase over fiscal year 2021 and a 78% increase compared to pre-pandemic levels during fiscal year 2019.”
The RMR Group provides asset and property management services nationwide for over 1,300 properties with approximately 115 million square feet of office, industrial, medical office, life science and retail space. RMR exclusively provides property management services to its clients and does not offer standalone property management services to third-parties.
About The RMR Group
The RMR Group (Nasdaq: RMR) is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR’s vertical integration is supported by approximately 600 real estate professionals in over 30 offices nationwide who manage over $37 billion in assets under management and leverage more than 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of direct real estate strategies across its clients. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit www.rmrgroup.com.
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Contacts
Christopher Ranjitkar
Vice President, Marketing & Corporate Communications
(617) 219-1473
