Wes Golladay: Okay, and then do you have a lot of traction on some potential contingent leases for the Sorrento space if they do get rejected? And if so, how quickly can you turn the space?
Peter A. Scott: Yes. I mean I think on Sorrento we obviously have contingency planning with regards to what we would do with those assets if they were projected. As I said in my prepared remarks, I mean, not looking necessarily today to reject those leases and to liquidate. They’re clearly trying to exit bankruptcy and put financing package together to achieve that. Too soon for us to comment on what that means for the leases, but I would say that we generally feel like that could be a positive thing with regards to the existing leases. Those leases actually have pretty significant below market rents. But obviously, if they were rejected, there would be some downtime and some TIs and capital spend that varies across the four different properties. But again, I think it’s too soon to start delving into the individual properties right now.
Wes Golladay: Okay. Great, thanks for the time everyone.
Operator: The next question comes from Jim Kammert from Evercore. Please go ahead.
James Kammert: Hey, good morning. Thank you. Given the high retention in the lab side, is it safe to assume that those tenants are less likely to be price shoppers, if you will? And do you have any examples in the last 12-18 months where you’ve done leasing with existing tenants in the lab side where they might have been able to go down the street to a new development or something at a lower rent, but stuck with PEAK? Thank you.
Scott R. Bohn: Yes, it’s Scott Bohn. Labs aren’t easy to move at the end of the day. I mean there’s a lot of — that goes into the build-out of those labs. There’s FDA approvals within certain labs that are hard to relocate. So I think that, that’s one thing that tend to be relatively sticky. I also think that the actual price per square foot isn’t always the most important thing to them from a tenant perspective. I mean, the labs sophistication, balance sheet, portfolio of landlord weighs in, oftentimes, most times, much heavier than the actual cheaper option down the street, so to speak.
James Kammert: Alright. And so — but do you have examples maybe where you were able to keep them and you can extract a nice bump as opposed to them moving, I’m just curious if that’s been a phenomenon insulating you from the new supply, in other words?
Scott R. Bohn: Yes, it’s a good question, Jim. And actually, I think if you go back to our NAREIT deck from November of last year, we actually included a slide and we have in the past about tenants that have gone from small amounts of square footage with us and grown to well over 100,000, if not even more than that square feet within our portfolio. It’s one of the things that we think differentiates us and gives us a competitive advantage. I mean we don’t know if the tenant turned down another deal. To be honest with you, oftentimes, they’re just talking to us and expanding with us. So I’m not sure I can give like a specific example, except to point to the amount of tenants that have gone from a small amount of square footage to a lot of square footage with us through the years, and we’ve been continuing to pound the table that we think that’s a competitive advantage for all the incumbent landlords.
