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    Steven Dumanski • Unknown

    Steven Dumanski's questions to Gladstone Land Corp (LAND) leadership

    Steven Dumanski's questions to Gladstone Land Corp (LAND) leadership • Q2 2025

    Question

    Steven Dumanski from Janney Montgomery Scott asked about the outlook for property dispositions given the high cost of capital for potential buyers and questioned the reason for the quarter-over-quarter decrease in the company's owned acre-feet of water.

    Answer

    CEO David Gladstone explained that while potential buyers exist, they are seeking significant discounts, which the company is not willing to accept. He noted strong interest in their Florida properties for housing development but prefers to hold income-producing assets. CFO Lewis Parrish clarified that the minor decrease in water assets (44 acre-feet) was due to using a small amount of stored water to irrigate trees during a tenant transition while waiting for wells to be transferred.

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    Steven Dumanski's questions to Franklin Street Properties Corp (FSP) leadership

    Steven Dumanski's questions to Franklin Street Properties Corp (FSP) leadership • Q4 2024

    Question

    Steven Dumanski asked about the drivers behind the significant Q4 leasing velocity, seeking details on specific geographies and tenant industries. He also inquired about any potential lease termination impacts from government tenants.

    Answer

    John Donahue, President of FSP Property Management, attributed the strong quarter to new deals in Houston and Minneapolis, with Houston and Denver being the strongest markets for the full year. He noted a diverse tenant mix from sectors like government, healthcare, and energy, but a lack of tech. Donahue also stated that the company expects no impact from government lease terminations, as there are no early termination options, and a key government lease is currently in renewal discussions.

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    Steven Dumanski's questions to Franklin Street Properties Corp (FSP) leadership • Q3 2024

    Question

    Steven Dumanski asked about the strategic rationale for the Pershing Park Plaza disposition, the company's future plans for the Monument Circle property, and current trends in tenant improvement (TI) costs for lease renewals.

    Answer

    Jeffrey Carter, President and CIO, explained the Pershing Park Plaza sale was a strategic transaction based on favorable conditions for that specific asset, not a broader exit from the Atlanta market. John Donahue, President of FSP Property Management, stated that for Monument Circle, the company is exploring all options, including securing an anchor lease or a potential sale. He also noted that tenant improvement costs for renewals average $4-$5 per square foot per year, while new deals trend higher at $7-$8, keeping the blended cost relatively stable.

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    Steven Dumanski's questions to Franklin Street Properties Corp (FSP) leadership • Q2 2024

    Question

    Steven Dumanski inquired about the strategy behind the recent Innsbrook property disposition, whether it signaled a market exit from Virginia, and what leasing percentage thresholds potential buyers require to transact in the current environment. He also asked for an update on the relative strength and weakness of FSP's various geographical markets.

    Answer

    Jeffrey Carter, President and Chief Investment Officer, explained that the Innsbrook sale was a selective, value-driven decision based on recent leasing success and favorable market reception, not a strategic exit from Virginia. He noted that buyers prioritize stabilized occupancy with strong weighted average lease term (WALT), quality locations, and smaller deal sizes, rather than a specific leasing percentage. John Donahue, President of FSP Property Management, added that Sunbelt markets like Houston and Atlanta are showing strength, while Midwest markets, particularly Minneapolis, have been weaker. He also noted encouraging signs of recovery in Denver.

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