The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Nathan Daniel Crossett - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: I just wanted to go back to the re-leasing spread question again. I get the 2% to 5% is what you've historically done. But if I'm looking
at kind of the expiration schedule over the next few years, it kind of looks like the rates that are expiring are pretty similar to what
you've done year-to-date. So I'm just curious, after this year, what are you kind of thinking for what renewal spreads could look like?
Question: Nathan Daniel Crossett - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. That's helpful. I think in the prepared remarks, there was kind of an allusion to larger deals maybe in the back half. I'm just
curious if any of those looking at SV7, what's the update there? And then I think it sounded like there was a move forward of the SV9
after council meetings. So I'm just wondering what exactly are the next steps for that project?
Question: Nathan Daniel Crossett - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. And just on the deals for the end of the year. Is part of that funnel for kind of immediate take-up of space? Or could some of
that kind of be funneled toward an eventual SV9?
Question: Nathan Daniel Crossett - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: And then you talked about the sales pipeline. Any way to qualitatively give a little bit more color or view at historically the upper
end of the range or record levels -- near record levels or kind of on par with historical levels as you think about late-stage sales
pipeline?
Question: Erik Peter Rasmussen - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst
: It sounds like with SV8 near full capacity, you have a good opportunity to focus on SV7. Can we expect to hear of an update soon
regarding sort of backfilling this space? And at this point, are you still expecting to do that with smaller retail leases rather than
scale-type deals?
Question: Erik Peter Rasmussen - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst
: Okay. And then maybe just my follow-up. So it's been addressed, the large-scale has been sort of challenged the last couple of
quarters. Any hurdles to winning this business? Or is it -- we're now at a point where there's enough momentum, and it's more of
just a timing issue based on some of the sales funnel commentary that you've talked about?
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