I don't expect any further specials. They did the large one earlier this year based on the property sales that closed last year, but have indicated they won't do another one based on the slaes that have closed this year, so I don't think they will as a result of the deal with USF&G. In large measure, the deal with USF&G is in large part just an acceleration of future rents and it is going to take some time to get the building re-leased (from a zero occupancy level). Also. I supect they will want to retain cash as we work our way through the emering weakness in the commercial real estate market.
So the way that I see it if they were paid the rental income for the next year and have left the building. If lxp leases the building out the rental income will be gravy unless there is some catch in the payout that the former occupant would have to be paid back a portion of the forward rent that they paid. With the new parking garage there is a much better chance to rent the building in downtown Baltimore. Also being a retired commercial real estate lending officer the parking garage is the real winner.We always calculated the NOI on a parking garage was 23%-35% higher that bricks and mortor when making a mortgage loan on this type of structure rather than a typical commercial building with all the expense that goes along with it. I would feel more comfortable if they rented 530.000 sq ft to muliple tenants. I agree that this is a win win situation.