O · Earnings call · 2026Q2T · Full report

Occupancy and Leasing Activity

REALTY INCOME CORP · 2026-08-05 · Importance 20 · Surprise 24

Portfolio occupancy was 98.8% at quarter end, with 482 re-leased units producing a 102.7% blended rent recapture rate. Renewal recapture was 104.6%, including a single-client renewal covering nearly 150 assets. Industrial represented approximately one-third of quarterly leasing activity and achieved a 105.8% recapture rate, while international recapture reached 112.9%, supported by the U.K. value-add retail park strategy. Investment-grade client exposure increased to 34% of annualized rent from 32% in the first quarter.

Key facts

• Contractual rent escalators for industrial generally range from 2% to 3.5% annually
• Portfolio occupancy at quarter end: 98.8%
• 482 re-leased units in the quarter generated a blended rent recapture rate of 102.7%
• Renewals in the quarter generated a rent recapture rate of 104.6%
• Industrial comprised approximately one-third of leasing activity during the quarter and generated a rent recapture rate of 105.8%