Tim Arndt: Hey, Camille. It’s Tim. Yeah. Just a clarification on the first part, that was a quarter-over-quarter number in SoCal, the 2% decline. And then in terms of what could change the fourth quarter, the answer is very little at this point. Certainly on the rent change side of things, most all of that leasing is already inked. We could have some surprises, very moderate I would say on the occupancy side, but I actually don’t expect that. We have a pretty tight range on occupancy as you know. So I don’t think you will see anything take us outside of our guidance.
Operator: And the next question comes from the line of Ron Kamdem with Morgan Stanley. Please proceed with your question.
Ron Kamdem: Hey. Just a quick two-parter follow-up. Just one on the development starts and the data centers, which is intriguing. Any way to put some numbers on that on how many starts can be done annually? Is it $200 million, is it $500 million, like how big can this get is the follow-up number one. And then number two on sort of the rent growth, appreciate we want to stay away from sort of specific numbers, but as you are sort of thinking about next year, what are sort of the key markets, Southern California being one, potentially being sort of a headwind? Maybe can you talk about what are some of the neutral or potential tailwinds in terms of markets for next year? Thanks.
Hamid Moghadam: Okay. Your first question was great advertising for our Investor Day because that’s what we are going to devote the time to is understanding our essentials business, our data center business and all those things. So let me defer answering that question to that date. And by the way, even on that date, you are not going to get as specific an answer as you would like. I just tell you that in advance, because these are very lumpy and it depends what quarter or what year a deal lands in. Chris, do you want to address the second part?
Chris Caton: Yeah. Absolutely. I might start by just saying one way to think about rent growth going forward is to think about the replacement cost math. We have really seen construction costs prove resilient and replacement costs prove resilient. And the interest rate dynamic that Hamid described earlier translates to the rents that are required to warrant new development. So over a medium-term horizon, a couple years, that’s going to play one of the most important factors into evaluating rent growth. As it relates to different markets, which was your question, I think, it’s probably fair to point to Tim’s comments on the markets that have proved the strongest so far this year. Mid-Atlantic, Sunbelt, Northern California are markets that stand out in my mind in the U.S. and there is a range of them globally, whether it’s Toronto, Mexico, Germany and the Netherlands. So that’s what I would look to.
Operator: And the next question comes from the line of Anthony Powell with Barclays. Please proceed with your question.
Anthony Powell: Hi. Good morning. I guess one more on market rent growth. I think last quarter you gave a 2023 forecast of 7% to 9%. I don’t know if you updated that today and are you going to be providing those kind of updated on a quarterly basis going forward?
Tim Arndt: So, hey, the view is 7% in United — globally and in the U.S. We are about mid-6s so far this year, so that implies growth in the fourth quarter as we described earlier. And then as it relates to forward guidance, I’d like to underline our upcoming Investor Day in December as the time to look for new information.
Operator: And the next question comes from the line of Michael Carroll with RBC Capital Markets. Please proceed with your question.
