RE:RE:1 qrt 2024 office leasing dataYes a little soft leasing, but 80.000 feet made after quarters close makes it strong.
800.000 in the whole quarter for cbd according to rental rapport. So 80.000 is 10% off normal quarters total.
I also remark its at a very high rent.
At the same time class C is doing terrible. So very good that Dream updated properties.
In rental rapport they mention that low absortion is also due to newbuild. But that this has dwindled from 9 mill sq feet to now 4 mill sq feet. The next year it will dwindle further. And in 2 years be nil.
Thats why I call 2027 for payback year.
Cooper seems confident on sales and derisking balance sheet this year. This is the single most bullish thing in the rapport, and somth that can have a real and effective infusion into the shareprice.