90 Leases Executed for a Weighted Average Lease Term of Approximately 19.4 Years
NEWTON, Mass.--(BUSINESS WIRE)--
The RMR Group (Nasdaq: RMR) announced the execution of 90 leases for approximately 5.0 million square feet on behalf of its clients during the three months ended June 30, 2022, including 40 leases with new tenants for approximately 2.9 million square feet.
Adam Portnoy, President & Chief Executive Officer, made the following statement:
“During the third fiscal quarter, we executed approximately 5.0 million square feet of leases across our platform on behalf of our clients, more than double the previous quarter, with a weighted average lease term of approximately 19.4 years and a weighted average roll up in rent of nearly 26 percent. While there was momentum across all sectors, we saw particular strength in industrial, highlighting the continued robust demand for e-commerce and logistics properties.”
The RMR Group provides asset and property management services nationwide for nearly 1,400 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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Christopher Ranjitkar
Senior Director, Marketing & Corporate Communications
(617) 219-1473
Source: The RMR Group Inc.