HIW
#Sure, <UNK>.
You know what, I think, that's right.
I mean, that's the exact balance we try and keep in mind when we're doing deals.
So, Nashville is a market we're not giving concessions, right.
There's very little to zero free rent.
And then, Atlanta, you might be - again, it's coming down to maybe a half a month per year.
So, we're balancing that.
It depends on the deal and the specific market.
But concessions, in general, remain muted.
Well, there's still a gap between second and first gen.
I don't think we - there might be spots, but there's not a market where second gen has now gotten within a hair of first gen.
There's still a significant delta between first and second gen as construction prices, much to our chagrin, continue to escalate.
Well, and hopes that Skip Hill, our Raleigh division lead is listening along with his leasing team, we'd like it to be a 100% pre-leased.
But your question is a good one.
Again, to use that same term as a mosaic of things that we take into consideration.
And so, for example, in Skip's division, we started Centre Green III mid-summer, 100% on a speculative basis.
It's in a setting where we have four existing buildings that are all 100% leased.
And then in a PUD that has over 1.3 million square feet, that's 97% pre-leased all owned by us.
And so, we have customers who are needing to grow and if we don't capture them in Centre Green III, then they're going to go to brand X.
So, that's the mosaic for the rationale for us starting that, and it's a 160,000 square foot building, not a 300,000 square foot building.
But I think that we would have to take each situation into consideration before we decided if we were going to build it and at what level of spec we would build it if any at all.
Thanks, <UNK>.
Hey, <UNK>.
That's exactly right.
At the time that we had to submit the list, which is roughly 45 days from closing of CCP, which we closed on March 1.
So, it had to be on the identified list and it just wasn't in the queue at that point in time.
(multiple speakers).
Okay.
Thanks, <UNK>.
So, thank you for your attention today.
We appreciate it and look forward to talking to you next quarter.
Thanks.
