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

Company Overview - Piedmont Office Realty Trust, Inc. is a self-managed real estate investment trust (REIT) focused on owning, managing, developing, and redeveloping Class A office properties primarily in the Sunbelt region, with a portfolio valued at approximately $5 billion and comprising around 16 million square feet [3]. Leasing Activity - In the second quarter of 2025, the company has completed over 500,000 square feet of leasing, with 350,000 square feet attributed to new tenants, and year-to-date leasing volume totals over 850,000 square feet [1]. - Approximately 70% of the new tenant leases are for currently vacant space, indicating strong demand for available properties [1]. - The company signed two significant long-term leases: 93,000 square feet with a global professional services firm in Dallas and 84,000 square feet with a global frozen food distributor in Minneapolis [1]. Operational Performance - The leasing momentum has accelerated in April and May, with no observed slowdown in leasing demand or decision-making despite economic challenges [2]. - The client pipeline remains strong, with over 400,000 square feet of leases in legal documentation, more than half of which are for currently vacant space [2]. - There are 2.6 million square feet of leases in the proposal stage, reflecting the effectiveness of the company's investments and service quality [2]. Revised Guidance - The company has increased its 2025 leasing guidance to a range of 1.8 to 2.0 million square feet, up from the initial guidance of 1.4 to 1.6 million square feet [2].