Nick Wibbenmeyer : Great question. This is Nick. As you can imagine, it’s a wide range of investment. As you guys have seen the capital markets, especially for construction debt for local developers is effectively frozen. And so we are very well situated, as I mentioned in our prepared remarks, with our retailer relationships, combined with our impressive team around the country and clearly our available capital. And so — we are, I would say, moving from coffee conversations that started 90 days ago into real dialogue and real negotiations and analysis of these opportunities. And so I do feel like it’s the early stages, but the early stages are very important to growing a meaningful pipeline. And some of these projects that you could appreciate when you look at our historical development program of scale. So excited about it.
Greg McGinniss : Okay. Thank you for your time.
Operator: Thank you. Our next question is from Floris Van Dijkum with Compass Point. Please proceed with your question.
Floris Van Dijkum : Good morning, guys. Thanks for taking the question. Maybe, I guess, I’ve got two for you. Number one, maybe if we can get a little bit more detail on the $0.21 nonrevenue mark-to-market. And presumably, some of that is related to some of your troubled retailers. If you can give us a little bit more color on that and also in particular, what sort of mark-to-market opportunities would you have if you get some of the space back, and I’m particularly thinking about properties such as Buckhead Station, South Beach, University Garden, some of your properties that have some of this Bed Bath exposure.
Michael Mas : Sure, Floris. I think you’re asking about the accelerated below-market rent associated with the potential to get back anchor spaces. So we do — we have incorporated a touch of that income into our expectations. It is a fluid situation, as you know. And those — what we have incorporated into our guidance is, call it, roughly $3 million or so of anticipated accelerated amortization. Those would be tied to what we believe to be the potential for the Bed Bath & Beyond scenario to play itself out in which we may get back those spaces. To Alan’s point, I mean it’s really a direct reflection of Alan’s point that it’s about a 15% mark-to-market opportunity on those units, which that below-market rent would indicate exists. And again, those original amounts were put up at the time of acquisition of the shopping centers and time will tell on the true economics where we end up.
Floris Van Dijkum : Great. And then maybe a follow-up, a little bit more. Obviously, your not all spaces created equally, your small shop rents are double your anchor rents typically. I note that your small shop occupancy, leased occupancy went up 60 basis points. Can you talk about your physical occupancy a little bit? And also maybe talk about where you see — I know you’ve mentioned that total occupancy in the portfolio gets to 96%. Where can small shop occupancy go? Where was the peak in the past?
Lisa Palmer : Before Alan answers this question, I feel like I have to jump in and say I appreciate that you recognize that all space is not equal. And I would say it’s not just from small shop and anchor all retail is not created equally, and high-quality space actually is very different and command, but much different rents than those of lesser quality. So I appreciate you making that recognition, Floris. I’ll let Alan answer your question more specifically.
