Obviously bricks and mortar through the pandemic to today has proven its value to retailers. I’m sure you hear that on the conference calls from retailers. So in that sense, we’re making a lot of good stuff happen. Brian, did you have something on the occupancy?
Brian McDade: I was just going to say we continue to see about 30% of our deals being new deals in the quarter. So that’s consistent with the prior quarter as well. So there is definitely lots of activity on a new deal basis.
Caitlin Burrows: Great, sounds encouraging. Thanks.
David Simon: Thank you.
Operator: Our next question is from Samir Khanal with Evercore ISI. Please proceed.
Samir Khanal: Good evening, everyone. David, maybe provide color on how your malls are performing versus outlets, maybe from a regional standpoint, coastal, non-coastal, Sun Belt, just trying to see if there’s any differences from a leasing standpoint? Thanks.
David Simon: Sure. It’s interesting. I would say we’re seeing pretty good tenant sales growth on the tourism properties, whether they’re outlet or malls. Now, the most of our pure tourist properties are really the outlet centers, and we’re seeing good growth in that category. Traffic, generally, is slightly above last year, still slightly below ‘19, but obviously conversions way up because our sales are on a per square foot basis are much higher than ‘19. I would say generally whether mall or outlet, the Sun Belt area has produced pretty good results in terms of sales year-to-date. We saw actually a decent pickup in California which was encouraging, but really good growth in a Woodbury Common that is finally getting the tourism back to where it is.
And, [Prairie] (ph) has been strong in the outlet business. There’s no question people are looking for a little more value or maybe they’re looking for a lot more value given the higher inflation that the consumers had to deal with. Not a huge bifurcation between malls and outlets. It’s very property specific. The different — as you know, we reported flat sales basically quarter-over-quarter and there’s no real difference between outlets and malls in that number. Luxury probably, well didn’t probably, it did flatten out in the third quarter of this year for sure, but it wasn’t across the board. It was more a couple specific retailers had a tough Q3, others were up. So it was really retailer-specific. Jewelry, malls may have a little more exposure to jewelry.
So that was a category that took a little more on the chin. Yet some of our higher end retailers in the jewelry category performed well. So it was basically not a real trend. I’d say the most important thing to come away with is that the Sun Belt continues to perform well and we’re seeing the tourist centers kind of make a nice comeback. They’ve been lagging a little bit more than the others over time, and a little bit of flatlining in the luxury category. Tom, Brian, anything you want to add?
Brian McDade: No, I think you covered it, David.
David Simon: Okay. Thank you.
Operator: Our next question is from Alexander Goldfarb with Piper Sandler. Please proceed.
Alexander Goldfarb: Hey, good evening. Good evening out there, David. So I’ll do one question and I’ll hold the follow-up. As you guys gain leverage with the tenants, are you seeing tangible ability to get more favorable terms? One of the issues with retail over time has been the tenants, especially the larger tenants or the more anchorage or more fashion, like the hot tenants of the day are driving lease terms traditionally. Curious if you’re seeing a change in that which would translate to an ability to accelerate rent growth, NOI growth, et cetera.
