We are pleased that our ongoing efforts in serving the tech and media industries across our world-class portfolio produced a year-over-year increase in leasing activity with over 380,000 square feet completed during the quarter. There is no question that tenants are being more methodical in their decision process given a slower than anticipated return-to-office and the rapidly changing economic climate, marked by high inflation and rising interest rates. Driven by our sharp focus on leasing our highly amenitized collaborative and sustainable office and studio space, we continue to see strong traffic and elevated interest in many of our properties. With nearly $1 billion of liquidity and 93% of our debt fixed or hedged, our balance sheet is well-positioned to support our ongoing leasing and development efforts as we continue to forge ahead and build long-term shareholder value.
Victor Coleman
Chairman & CEO, Hudson Pacific Properties