Ross Cooper: And then your question about the Kroger-Albertsons merger, we’re watching it just like you are. It’s an interesting process that they have to go through. Clearly, there is still some hurdles to get over, but it seems to be tracking and continues to move forward. We’ll watch it as closely as we possibly can. You’ve seen the earnings results from both. They are very strong. They both have very complementary portfolio. So it’s one that if the merger were to go through, I think it’s a net-net win for Kimco and our shareholders. But if it doesn’t go through, obviously, they are both very well capitalized, strong performers, good grocery operators. So we are watching it closely and it’s not necessarily clear yet what’s going to happen there.
Operator: The next question comes from Alexander Goldfarb from Piper Sandler. Please go ahead.
Alexander Goldfarb: Good morning. Good morning, out there. And if I could, just give an end of €“ towards the end of Q4. So two-part. One, Conor, I think you mentioned12% rent spreads on the Bed Bath. I think some of your peers have been more like 25% or 30%, so I didn’t know if that’s mix? Second, Glenn, what gets you to the bottom end of the range? Because it seems like you guys have baked in a ton of bad stuff into your guidance already, which I am assuming is more of the midpoint. So I’m just sort of curious, what gets to the bottom-end of the range.
Conor Flynn: Alex. So on the first question on the 12%, that’s on the six that we have visibility where we are lining up leases to backfill all of those individual users to take the entire box. On the entire Bed Bath portfolio, you’re right, it’s a bit higher. We have a 15% to 20% type of range and again, some of those might be opportunistic and we can reposition those boxes.
Glenn Cohen: Yes, I mean in terms of getting to the bottom end of the range, again, more credit loss above what we’ve baked in could potentially get you there. I mean, at the high end of that credit loss range of being in that $22 million range. You also have some timing issues, right? Timing of when we would monetize our Albertsons investment and the redeployment of that cash comes into play. The €“ you also have the retention of tenants versus vacates, so there’s a whole assortment of potential timing issues that kind of come into play. So if everything happened later or vacate happens faster, you could wind up more towards that bottom end of the range. But that’s kind of how you get there.
Operator: The next question comes from Wes Golladay from Baird. Please go ahead.
Wes Golladay: Hey, good morning, everyone. I just have a follow-up on that Bed Bath question on the 12% spreads. Is there any box splits on that? Is that the reason why they are potentially a little bit lower spread?
Glenn Cohen: No, not right now. There’s no box splits on those. Spreads are productive like the vintage of the box, right, maybe some of the older boxes that we have in the balance of the portfolio. Our older leases started at lower rents. Some of them are slightly newer. So it does range. So I think you have to take a broader view on spreads, in general on where you see opportunities. And I think referring back to Conor’s comment about that 15% to 20% over the entire portfolio. This is just a small subset of that.
