Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Ki Bin Kim of Macquarie.
Ki Bin Kim - Macquarie Research Equities
So in regards to your (inaudible) strategy could you provide more commentary, so what the side that bulk going forward of how much assets you want to sell and if the strategy there just over you can is that market specific?
Bruce Duncan
I would say Ki Bin what we are trying to do, you look at what we saw in the past if we are focusing more on the building we sold this quarter most of them were vacant buildings. We had 100,000 square foot building in LA that we sold. We sold a couple of big smaller condos in office condos or industrial condos Miami. Sold a (inaudible) in Phoenix and so again it’s more one offs transactions where we defined users, that we think it’s paying the fair price for the assets. We sold these properties, we’re having about $75 a foot for them and most of them were vacant so it’s one-off
We anticipate next year probably and again we haven’t finalized it, but my guess it would be, sales would be in the same range of this year a $80 million to a $100 million, but we haven’t really finalized our thinking and budgets for next year.
Ki Bin Kim - Macquarie Research Equities
If you completely sold out of a burn market and I am guessing it’s different per market, is there additional cost savings coming out of closing down a regional office and what would that kind of absolute dollar be?
Bruce Duncan
I think it depends on the market and the presence you have in it. I would say that there are savings we’re doing that. I would say in the short-term, longer term but we’re going to reduce our exposure to certain markets. In the short-term, I wouldn’t anticipate that we’re going to do a large transaction to reduce our exposure to those markets, if I don’t think it’s the time to do it, I think it’s a tough market. I don’t think you want to do large transactions. I think you’ll get much better pricing by doing one-offs. So, that would be our focus.
Operator
Your next question comes from Dan Donlan of Janney Montgomery Scott.
Dan Donlan - Janney Montgomery Scott LLC
Hi, good morning. I was just curious looking at your year-over-year occupancy. How much is the decline in occupancy on a year-over-year basis related to some of the acquisitions and redevelopments that won in service coming into the in-service portfolio, could you quantify that?
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