Jeff Olson: Yes. I mean we’re continuing to work with the community. We have five remaining tenants left at the mall. So, we’re also working with them on a plan that makes sense for everyone. We like our basis in the property. It’s about $1 million an acre, and we do look forward to sharing our plans with everyone, once those plans have been developed. Jeff is rolling up his sleeves on it and we do hope to share more at our Investor Day in April.
Samir Khanal: Thanks, everyone.
Operator: Thank you. . Our next question is from Ronald Kamdem with Morgan Stanley.
Ronald Kamdem: Hey, just a couple of quick ones. I think you mentioned the dollar amount for the reserves for some of those tenants, but can you just translate that into sort of a basis points drag on the same-store NOI guidance for – adjusted for non-collection? So, that 0.5 to 3.5, what’s the – what’s sort of the drag from bad debt? Thanks.
Mark Langer: It’s about 400 basis points, Ron.
Ronald Kamdem: Got it. Okay, that’s helpful. And then the – sort of the second question is going back to – again, this is another sort of leasing question, leasing activity. We are hearing sort of across the group that leasing has been sort of very strong in the sector. If you take a step back, I mean, given the challenged macro, any sort of idea what’s driving that? What are tenants saying? It doesn’t seem like anything that’s going on with inflation or the economy is really impacting it, which is good, but just on the ground, what are you hearing from the tenants?
Jeff Olson: Well, I think they’re concerned that if they don’t act soon, there won’t be much space left for them to get later, because there is very little new supply that’s being built. So, again, as occupancy rates increase throughout the country and stabilize maybe at 95%- ish, there’s just less quality space that’s available.
Jeff Mooallem: And I would add, Ron, that for our portfolio in particular, that’s especially the case because we are in such supply-constrained markets relative to the rest of the country. And we do hear from retailers all the time that that New York, New Jersey, D.C. to Boston corridor, is one of their most difficult ones to penetrate.
Ronald Kamdem: Great. And then my last quick one was just on the G&A guide. Is that – should we take that as sort of the recurring rate going forward in the model? Because obviously the G&A is a lot lower than it was previous years. Just – is that sort of the new steady state? Is that a fair assumption?
Mark Langer: Yes, that’s a fair assumption. The only thing that could happen that we would adjust if there was – we exclude any outsized one-time litigation-type matters. But from a recurring standpoint, the guide, I think, gives you a good run rate.
Ronald Kamdem: Excellent. Thanks so much. That’s it for me.
Operator: Thank you. Our next question is from Paulina Rojas with Green Street.
Paulina Rojas: Good morning. This question is for Jeff in his new profession. So, in your prepared remarks, you highlighted some of the positive aspects you see of the Urban Edge portfolio in general. And you covered a lot of things. My question is, from a strategic level, where do you think there is the most use to be s squeezed in this portfolio? Or said in another way, if you could highlight one thing, what is the opportunity that you’re most excited about?
