So I would also say that. And then in terms of your question about small shop leasing, again, we’re not going to sit here today and give what we think we’re going to end the year at in terms of our small shop leased percentage. But suffice to say, since the anchor lease percentage is within like, I don’t know, 75, 80 basis points of where we were, the upside is clearly in the shops and the portfolio is very strong. You look at all the deals we’ve done. You look at our spreads, by the way, and you look at the spreads versus the top five, we’re clearly outperforming, particularly when you look at our ABR versus everybody else’s ABR. So I could go on and on, but that was a multifaceted question.
Heath Fear: I think the last piece of your question, Floris, was about the merger and whether there are any additional benefits into the later years? On the G&A front, we’re looking at fairly modest benefits into 2023. We still have some lease payments that are burning off some software subscriptions. But I think the one merger benefit that’s going to keep giving for the time being is really the application of our operating platform onto the combined portfolio. And so as we’re getting to know these assets better and better over time and really understanding the strengths of them, the challenges, etcetera, I just think you’re going to see us produce outsized results because, again, 1 plus 1, as John said, equals 3.
Floris Van Dijkum: Thanks, guys. Maybe just a follow-up on the small shop, your SNO pipeline presumably includes some small shop as well. What is the gap between your leased and occupied in your shop space today? Because that’s where, again, a lot of the future growth is going to come from.
Heath Fear: It’s 400 basis points, Floris.
Floris Van Dijkum: Oh, it’s pretty significant. Okay, thanks.
Heath Fear: So we’re 90% leased, and we’re 86% occupied.
Floris Van Dijkum: That’s it for me, guys. Thanks.
John Kite: Thanks, Floris.
Operator: Thank you. And our next question comes from the line of R.J. Milligan from Raymond James. Your question please.
R.J. Milligan: Hi, guys. Good afternoon. I was looking for a little bit more color on the sort of the general 125 basis points of bad debt that’s built into guidance. I’m curious how much visibility do you have on that currently in terms of basis points, maybe tenants that have already fallen out? And then can you describe sort of the mix of expectation whether it be small shops or is that €“ is the bulk of that assumption from small shops? Are there any big box tenants that you’re concerned about that you’re building into that 125 basis points?
John Kite: Sure. R.J., both Heath and I can talk about it. My big picture, let me just say big picture, I mean, we’re €“ whatever, it’s February, mid-February. We haven’t €“ there hasn’t been much impact yet. So this is really a go-forward reserve. I think as we looked at the year and we started to see some of the tenants that we had talked about in the past, beginning to struggle, it seems to be prudent to elevate it a little bit, but there isn’t any specifics around it. When you look, particularly the fact that we carved out Bed Bath & Party City separately, it certainly gives us more room in the small shops since obviously, those are both anchor tenants from a square footage perspective. It gives us more room to absorb small shop potential disruption, but it really is €“ it really was just at the point in time we were putting everything together.
