David Simon: Well look, I think domestic retail is not a lot of transactions, but we have assets throughout the world. That’s one. Two is obviously we’ve got investments in our OPI category. But frankly, domestic assets other than maybe some of our residential stuff, hotel stuff, there’s just not a lot happening. And we might see some stuff, but I think that won’t be really driving kind of the activity that we would anticipate.
Nick Joseph: Thanks.
David Simon: Thank you.
Operator: Our next question is from Linda Tsai with Jefferies. Please proceed.
Linda Tsai: Hi, thanks for taking my question. About 6% of ABR is on month-to-month leasing and then 12% expiring for ‘24. How much of the month-to-month is getting converted to permanent or should that number grow? And then in terms of the 12% expiring in ‘24, what’s been addressed from a renewal standpoint from where you stand today?
David Simon: Yeah, I know that there’s a number of leases in ‘23 that are basically agreed to. We’re just finalizing the documentation. So that’s the first. And I would think that generally we’re more than halfway through ‘24 right now on a kind of a negotiated, not papered basis. So, Brian, I don’t know if you want to add anything to it, but that would be — that’s kind of where we are generically.
Brian McDade: And Linda, you can see the material change, Q2 over to Q3, we’ve cleared about 2.2 million square feet out of that category. It’s just a matter of processing. We talked about it on our last call. There’s just a lag effect on the processing of those leases. So we do expect that to continue.
Linda Tsai: Thank you.
Operator: Our next question is from Haendel St. Juste with Mizuho. Please proceed.
Haendel St. Juste: Hey, good evening out there. Dave, I just had a quick follow-up on the consumer retail sales line of question from earlier. I think you noted your portfolio sales were flattish during the quarter. We’ve heard from other sectors, storage, apartments, which seemed like the consumer hit a bit of a wall during the third quarter in September. I’m curious if you saw anything within the quarter, maybe in September of that sort? And then perhaps what your expectations in the near-term outlook for retail sales for your portfolio and the consumer as we head into the holiday season the next year? Thanks.
David Simon: Sure. Well, generally, as we said earlier in the year, we expect to be more or less flat. So that’s kind of what our expectations continue to be in terms of retail — reported retailer sales. Again, we feel pretty good about the higher income consumer. We’ve also got a balancing act in terms of — some of our value-oriented centers will maybe play a more important role for our consumer today that they might not have otherwise played last couple of years. But, it’s unknown. I mean, we’re being extra cautious because of the — inflation is still a little bit there, still taking a bite out of the consumer and obviously you’ve got rates that are beginning to filter through the economic system. So cautious, flat, we’re not anticipating a downturn, but not a robust sales growth for the fourth quarter, relatively flat.
Haendel St. Juste: Got it. Appreciate that. If I could squeeze in a follow-up, I think you mentioned earlier as well that you started, I think it was [$960 million] (ph) of new redevelopment at 6% yields, and you talked about a higher hurdle rate, maybe some color on perhaps what that hurdle rate today is and where the next batch of redevelopment yields or projects would need to be and where we could see them migrate to? Thank you.
