Christine Mastandrea: Yes, because I think just with the Bed Bath & Beyond and as I mentioned, that we have we’re doing a bake-off for the type of options that we have there. And because, obviously, whenever you have a center like that and that type of space, it’s a long-term fill. And so it really requires a defined focus as to what might be the best type of client of that center. That’s number one. And number two, there’s a — it’s a very crowded parking field with the Trader Joe’s across from it. So you have to just be mindful of what type of tenant you put in there and the impact it has on the center.
Dave Holeman: Mitch, I think I said in my earlier remarks as well. We’ve got a number of leases we expect to commence in the fourth quarter. So I think we’re very positive about the activity we have right now, confident of our guidance range we’ve given on occupancy and so just to be real clear, I think we feel very good. We’re continuing to watch for signs of stress. But frankly, we’re not seeing them in our properties and our markets.
Christine Mastandrea: And I’d like to add one more thing to it, too, Mitch, just that the type — so if you really go back over entrepreneur growing businesses, they’ve had severe shocks over the last really 10, 20 years. And much of that has to do with the financial crisis and then COVID. And most of the businesses that we work with, they grow out of organic growth. So it’s a little different. They’re not leveraged the same way because they can’t achieve the same opportunities for that type of leverage. So that’s something that I think has always played well to our space.
Mitch Germain: Great. Okay. I apologize if you’ve mentioned it. I missed some of the prepared comments. Were there any asset sales this quarter?
Dave Holeman: Mitch, there were not. So we are continuing to explore recycling. As you and most others are aware, the transaction market continues to be very shallow. So last year, we did a little bit of recycling. Our intent is to do a little bit of recycling this year. But at this point in the quarter, we did not have any asset sales or acquisitions. We’re continuing to work a few small deals, and we’ll just see where we get to. But nothing significant, no dispositions in the quarter.
Mitch Germain: Do you think you may be acted a little bit too quickly on the acquisition then because I know the desire was to match fund any acquisition proceeds with disposition proceeds. So obviously, you’ve acquired without having the match funding aspect of it.
Dave Holeman: So first of all, I don’t think we were too quick. I think the acquisition we made this year was a great acquisition of the portfolio. And we are match funding. If you look a little bit maybe of overlap year-to-year, if you look at last year, ’21, ’23 together, I think we’re close to match funding and we continue to expect to match fund. So I think that says there’s a few more dispositions to come in, but our intent is to fund that with proceeds from sales. So great asset. I think there’s a slide in our investor deck that highlights kind of the metrics on the assets we’ve sold versus the assets we’ve bought. We’ve continued to buy properties that have more of demand drivers that we see that Christine discussed in a lot of our remarks.
Have been able to sell at accretive cap rates. Just a more shallow market now from that and a little tougher. But we do expect to match fund our dispositions and acquisitions. And I think if you look at the 2 years combined, they’re close maybe a little bit that we’ll sync up shortly.
Mitch Germain: Great. And then last question on the litigation. Obviously, the Pillarstone trial was, I guess, during the summer and the CEO is scheduled for — it looks like December. So I mean, is — obviously, they’re not coupled, but do you have any sense of timing? And then is the ruling definite? Or could it just get caught up in an appeals process that doesn’t enable you to have the freedom and flexibility to kind of execute your strategy?
