Piedmont Office Realty Trust(US:PDM) Newsfilter·2024-06-03 20:15Core Insights - Piedmont Office Realty Trust, Inc. has completed over 575,000 square feet of leasing in Q2 2024, with approximately 60% related to new tenants, bringing year-to-date leasing volume to about 1.1 million square feet [1][3] - The largest lease in Q2 2024 was for the relocation of Travel + Leisure Co's headquarters to Piedmont's property in Orlando [1] - The company has a backlog of future cash revenue related to leases yet to commence or still in abatement, estimated at approximately $52 million annually [3] Company Overview - Piedmont Office Realty Trust, Inc. is a self-managed real estate investment trust (REIT) focused on high-quality Class A office properties primarily in the Sunbelt region, with a portfolio valued at approximately $5 billion and comprising around 16 million square feet [4] - The company is investment-grade rated by S&P Global Ratings (BBB-) and Moody's (Baa3) and has been recognized as a 2024 ENERGY STAR Partner of the Year – Sustained Excellence [4]