Newton, MA – The RMR Group announced the execution of 90 leases for approximately 5 million sq. ft. on behalf of its clients during the three months ended June 30, including 40 leases with new tenants for approximately 2.9 million sq. ft.
Adam Portnoy, president and CEO, said, “During the third fiscal quarter, we executed approximately 5 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%. 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 sq. ft. of office, industrial, medical office, life science and retail space.