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Piedmont REIT Signs over 500,000 SF of Leases Second Quarter-to-Date and Raises Full Year Leasing Guidance from 1.4 - 1.6 million SF to 1.8 - 2.0 million SF

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Piedmont Office REIT (NYSE:PDM) reported strong leasing activity with over 500,000 square feet of leases signed in Q2 2025 to date, including 350,000 square feet from new tenants. Year-to-date leasing volume has reached 850,000 square feet, with 70% of new tenant leases for vacant space. Notable transactions include a 93,000 SF lease with a global professional services firm in Dallas and an 84,000 SF lease with a frozen food distributor in Minneapolis, both exceeding 10-year terms. The company has raised its 2025 leasing guidance from 1.4-1.6 million SF to 1.8-2.0 million SF. Currently, PDM has over 400,000 SF of leases in legal documentation and 2.6 million SF in the proposal stage, demonstrating strong demand for their Class A office properties despite economic uncertainties.
Piedmont Office REIT (NYSE:PDM) ha registrato una forte attivit脿 di locazione con oltre 500.000 piedi quadrati di contratti firmati nel secondo trimestre del 2025 fino ad oggi, di cui 350.000 piedi quadrati da nuovi inquilini. Il volume di locazioni dall'inizio dell'anno ha raggiunto 850.000 piedi quadrati, con il 70% dei nuovi contratti per spazi vacanti. Tra le operazioni pi霉 significative si annovera un contratto di 93.000 piedi quadrati con una societ脿 globale di servizi professionali a Dallas e uno di 84.000 piedi quadrati con un distributore di alimenti surgelati a Minneapolis, entrambi con durata superiore ai 10 anni. L'azienda ha aumentato le proprie previsioni di locazione per il 2025, portandole da 1,4-1,6 milioni a 1,8-2,0 milioni di piedi quadrati. Attualmente, PDM ha oltre 400.000 piedi quadrati di contratti in fase di documentazione legale e 2,6 milioni di piedi quadrati in fase di proposta, dimostrando una forte domanda per le sue propriet脿 di uffici di classe A nonostante le incertezze economiche.
Piedmont Office REIT (NYSE:PDM) report贸 una s贸lida actividad de arrendamiento con m谩s de 500,000 pies cuadrados de contratos firmados en el segundo trimestre de 2025 hasta la fecha, incluyendo 350,000 pies cuadrados de nuevos inquilinos. El volumen de arrendamientos acumulado en el a帽o ha alcanzado los 850,000 pies cuadrados, con el 70% de los contratos de nuevos inquilinos para espacios vacantes. Entre las transacciones destacadas se incluye un contrato de 93,000 pies cuadrados con una firma global de servicios profesionales en Dallas y uno de 84,000 pies cuadrados con un distribuidor de alimentos congelados en Minneapolis, ambos con t茅rminos superiores a 10 a帽os. La compa帽铆a ha elevado su gu铆a de arrendamientos para 2025 de 1.4-1.6 millones a 1.8-2.0 millones de pies cuadrados. Actualmente, PDM cuenta con m谩s de 400,000 pies cuadrados en documentaci贸n legal y 2.6 millones de pies cuadrados en etapa de propuesta, demostrando una fuerte demanda por sus propiedades de oficinas Clase A a pesar de las incertidumbres econ贸micas.
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Piedmont Office REIT (NYSE:PDM) a annonc茅 une forte activit茅 de location avec plus de 500 000 pieds carr茅s de baux sign茅s au deuxi猫me trimestre 2025 脿 ce jour, dont 350 000 pieds carr茅s provenant de nouveaux locataires. Le volume de location cumul茅 depuis le d茅but de l'ann茅e a atteint 850 000 pieds carr茅s, avec 70 % des nouveaux baux locatifs pour des espaces vacants. Parmi les transactions notables figurent un bail de 93 000 pieds carr茅s avec une soci茅t茅 mondiale de services professionnels 脿 Dallas et un bail de 84 000 pieds carr茅s avec un distributeur de produits surgel茅s 脿 Minneapolis, tous deux d'une dur茅e sup茅rieure 脿 10 ans. La soci茅t茅 a relev茅 ses pr茅visions de location pour 2025, passant de 1,4-1,6 million 脿 1,8-2,0 millions de pieds carr茅s. Actuellement, PDM dispose de plus de 400 000 pieds carr茅s de baux en phase de documentation juridique et de 2,6 millions de pieds carr茅s en phase de proposition, d茅montrant une forte demande pour ses propri茅t茅s de bureaux de classe A malgr茅 les incertitudes 茅conomiques.
Piedmont Office REIT (NYSE:PDM) meldete eine starke Vermietungsaktivit盲t mit 眉ber 500.000 Quadratfu脽 an abgeschlossenen Mietvertr盲gen im zweiten Quartal 2025 bis dato, davon 350.000 Quadratfu脽 von neuen Mietern. Das kumulierte Vermietungsvolumen im laufenden Jahr erreichte 850.000 Quadratfu脽, wobei 70 % der neuen Mietvertr盲ge f眉r leerstehende Fl盲chen abgeschlossen wurden. Zu den bemerkenswerten Transaktionen z盲hlen ein 93.000 Quadratfu脽 gro脽er Mietvertrag mit einer globalen Unternehmensberatung in Dallas und ein 84.000 Quadratfu脽 gro脽er Mietvertrag mit einem Tiefk眉hlnahrungsmittel-Distributor in Minneapolis, beide mit Laufzeiten von mehr als 10 Jahren. Das Unternehmen hat seine Vermietungsprognose f眉r 2025 von 1,4-1,6 Millionen auf 1,8-2,0 Millionen Quadratfu脽 erh枚ht. Derzeit befinden sich 眉ber 400.000 Quadratfu脽 an Mietvertr盲gen in der rechtlichen Dokumentationsphase und 2,6 Millionen Quadratfu脽 in der Angebotsphase, was eine starke Nachfrage nach ihren Class-A-B眉roimmobilien trotz wirtschaftlicher Unsicherheiten zeigt.
Positive
  • Over 500,000 SF of new leases signed in Q2 2025 to date, with 350,000 SF from new tenants
  • Secured two large 10+ year lease commitments totaling 177,000 SF
  • Strong pipeline with 400,000 SF in legal documentation and 2.6M SF in proposal stage
  • Increased 2025 leasing guidance by 400,000 SF to 1.8-2.0M SF
  • 70% of new tenant leases are for currently vacant space, reducing vacancy rates
Negative
  • None.

Insights

Piedmont REIT's significant leasing momentum and raised guidance signal strong demand for premium office space despite market headwinds.

Piedmont's 500,000+ square feet of Q2 leasing activity represents a significant acceleration in space absorption, with 70% of new tenant leases filling previously vacant space. This robust performance has prompted management to increase their 2025 leasing guidance by 400,000 square feet at the midpoint (from 1.4-1.6M to 1.8-2.0M SF).

The two highlighted long-term leases鈥�93,000 SF in Dallas and 84,000 SF in Minneapolis鈥攁re particularly valuable as 10+ year commitments provide substantial tenant stability and reduce future re-leasing risk. The Minneapolis deal validates Piedmont's property repositioning strategy, demonstrating the company can attract quality tenants to refreshed properties.

Perhaps most telling is that 400,000+ SF of leases currently in legal documentation and a substantial 2.6 million SF in the proposal pipeline indicate no slowdown in office demand despite economic uncertainties. This contradicts broader market narratives about office space obsolescence and suggests Piedmont's Sunbelt-focused, amenity-rich portfolio is resonating with corporate tenants seeking quality workspaces.

The company's ability to attract a diverse tenant base鈥攆rom professional services to food distribution鈥攄emonstrates cross-sector appeal. With approximately 850,000 SF leased year-to-date, Piedmont appears well-positioned to exceed even their newly raised guidance if current momentum continues through year-end.

YTD Leasing of over 850,000 SF

Atlanta, June 02, 2025 (GLOBE NEWSWIRE) -- Piedmont Office AG真人官方ty Trust, Inc. ("Piedmont鈥� or 鈥渢he Company") (NYSE:PDM), an owner of Class A office properties located primarily in the Sunbelt, announced today, that the Company is participating in this week鈥檚 Nareit REITWeek Investor Conference in New York City. The Company has completed over 500,000 square feet of leasing thus far in the second quarter, with 350,000 square feet related to new tenants. Approximately 70% of the new tenant leases are for currently vacant space and year-to-date leasing volume now totals over 850,000 square feet.聽聽 Of note, the Company signed two new, large transactions in excess of 10 years 鈥� 93,000 square feet with a global professional services firm specializing in risk, strategy and people at Three Galleria Office Tower in Dallas and 84,000 square feet with a global frozen food distributor at the Company鈥檚 recently repositioned 9320 Excelsior building in suburban Minneapolis.

Commenting on second quarter operational success to date, Brent Smith, Piedmont's President and Chief Executive Officer, said, "The portfolio鈥檚 leasing momentum accelerated during April and May with the team executing over half a million square feet of leases despite the turbulent economic backdrop. To date, we have not witnessed a slowdown in leasing demand or decision making.聽聽 Piedmont鈥檚 client pipeline remains robust with over 400,000 square feet of leases currently in legal documentation with more than half for currently vacant space. In addition, we have 2.6 million square feet of leases in the proposal stage, further evidence that the investments that we have made in our portfolio, combined with a 'best-in-class' service and sustainability mindset, are resonating with a broad range of tenants. At this time, we are increasing our 2025 leasing guidance to 1.8 to 2.0 million square feet from our initial guidance of 1.4 to 1.6 million square feet. We continue to emphasize that Piedmont is uniquely positioned to capitalize on the growing demand for highly-amenitized, well-located work environments operated by a financially stable landlord."

About Piedmont Office AG真人官方ty Trust

Piedmont Office AG真人官方ty 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, predominantly unencumbered 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 Moody鈥檚 (Baa3) and Fitch (BBB-). Piedmont is a 2024 ENERGY STAR Partner of the Year 鈥� Sustained Excellence. For more information, see .

Contact:聽 聽 聽 Sarah Heimlich
Company:聽 聽Piedmont Office AG真人官方ty Trust
Phone:聽聽聽聽聽聽聽聽770 418 8800
Email:聽 聽 聽 聽 聽 [email protected]


FAQ

What is Piedmont REIT's (PDM) new leasing guidance for 2025?

Piedmont REIT has raised its 2025 leasing guidance from 1.4-1.6 million square feet to 1.8-2.0 million square feet.

How much leasing volume has PDM achieved year-to-date in 2025?

Piedmont REIT has achieved over 850,000 square feet of leasing volume year-to-date in 2025.

What major leases did Piedmont REIT sign in Q2 2025?

PDM signed two major leases: 93,000 SF with a global professional services firm in Dallas and 84,000 SF with a global frozen food distributor in Minneapolis.

What is Piedmont REIT's current leasing pipeline?

PDM has over 400,000 SF of leases in legal documentation and 2.6 million SF in the proposal stage.

What percentage of PDM's new tenant leases are for vacant space?

70% of Piedmont REIT's new tenant leases are for currently vacant space.
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REIT - Office
Operators of Nonresidential Buildings
United States
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