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The RMR Group Reports Approximately 2.7 Million Square Feet of Leasing Activity for the Three Months Ended September 30, 2022
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The RMR Group (Nasdaq: RMR) announced the execution of 81 leases for roughly 2.7 million square feet during the quarter ending September 30, 2022. The company's weighted average roll up in rent exceeded 23%, with total leasing activity reaching 13.6 million square feet for the fiscal year, up 28% from 2021 and 78% from pre-pandemic levels in 2019. CEO Adam Portnoy highlighted strong demand for high-quality assets, showcasing RMR's growth and robust operational performance.
Positive
Executed 81 leases totaling approximately 2.7 million square feet.
Weighted average roll up in rent exceeded 23%.
Total leasing activity increased by 28% year-over-year and 78% compared to pre-pandemic levels.
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81 Leases Executed for a Weighted Average Roll Up in Rent of More Than 23%
NEWTON, Mass.--(BUSINESS WIRE)--
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.
“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.
