Piedmont REIT signs over 575,000 SF of Leases During April and May 2024
03 Junho 2024 - 5:15PM
Piedmont Office Realty Trust, Inc. ("Piedmont” or “the Company")
(NYSE:PDM), an owner of Class A office properties located primarily
in the Sunbelt, announced today, that the Company will be
participating at this week’s NAREIT Investor Conference in New York
City. The Company will be noting that it has completed over 575,000
square feet of leasing thus far in the second quarter of 2024, with
approximately 60% of this total leased square footage related to
new tenants and bringing year-to-date leasing volume to
approximately 1.1 million square feet. The largest lease completed
thus far in the second quarter was for the relocation of Travel +
Leisure Co’s (NYSE:TNL) headquarters to Piedmont’s 501 W Church
Street property in downtown, Orlando. Other noteworthy leases
completed during the second quarter included an extension for Ryan,
Inc. at Three Galleria Tower in Dallas, TX, and the renewal of the
International Food Policy Research Institute at 1201 Eye Street in
Washington, D.C.
“We are thrilled with the strong start to the second quarter,”
said C. Brent Smith, Piedmont’s President and Chief Executive
Officer. “Executing over 575,000 square feet of leasing in the
first two months of the quarter puts us on track for a very strong
leasing quarter and increases our backlog of future cash revenue
related to leases that either have yet to commence or are still in
abatement to approximately $52 million annually. Even better news
is that our leasing pipeline remains robust, further bolstering our
confidence in meeting our 2024 leasing goals.”
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner,
manager, developer, redeveloper, and operator of high-quality,
Class A office properties located primarily in the Sunbelt. Its
approximately $5 billion portfolio is currently comprised of
approximately 16 million square feet. The Company is a fully
integrated, self-managed real estate investment trust (REIT) with
local management offices in each of its markets and is
investment-grade rated by S&P Global Ratings (BBB-) and Moody’s
(Baa3). Piedmont is a 2024 ENERGY STAR Partner of the Year –
Sustained Excellence. For more information, see
www.piedmontreit.com.
Contact: Laura
MoonCompany: Piedmont Office Realty TrustPhone:
770 418 8800Email:
Investor.relations@Piedmontreit.com
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