Record Leasing Activity
Piedmont executed approximately 724,000 square feet of total leasing during the quarter, marking the largest amount of new tenant leasing in over a decade, with a total year-to-date leasing reaching approximately 1.8 million square feet.
Increased Rental Rates
Rental rates for space vacant less than a year reflected almost 9% and just over 20% roll-ups on a cash and accrual basis, respectively, with an estimated 20% increase in rental rates across projects.
Positive Office Demand Turnaround
U.S. office demand saw an increase for the first time in years, with about 12 million more square feet of office space occupied than returned to landlords in Q3 2025.
Strong Financial Performance
The company exceeded consensus FFO by 3% and anticipates sustainable earnings growth due to a $40 million backlog of uncommenced leases.
High GRESB Rating
Piedmont achieved a 5-star rating and Green Star recognition from GRESB, placing them in the top decile of all participating listed U.S. companies.