Piedmont Realty Trust, Inc.
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
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FY2025 · Filed Feb 17, 2026
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Item 2. Properties
As of December 31, 2025, we owned and operateda portfolio comprised of 29 in-service projects and three redevelopment projects. As of December 31, 2025 and 2024, our in-service portfolio was 89.6% and 88.4% leased, respectively, with an average lease term remaining as of each period end of six years. As of December 31, 2025, our average lease size was approximately 14,000 square feet, and no single tenant accounts for more than 5% of our ALR.
ALR related to our in-service portfolio was $578.7 million, or $43.31 per leased square foot, as of December 31, 2025 as compared with $567.3 million, or $41.91 per leased square foot, as of December 31, 2024.
Property Statistics
The following table shows the geographic diversification of our in-service portfolio as of December 31, 2025:
| Location | AnnualizedLease Revenue(in thousands) | Rentable SquareFeet(in thousands) | Percentage ofAnnualizedLease Revenue (%) | Percent Leased (%) |
|---|---|---|---|---|
| Atlanta | $185,462 | 4,731 | 32.0 | 94.4 |
| Dallas | 114,331 | 2,821 | 19.7 | 93.2 |
| Orlando | 67,671 | 1,754 | 11.7 | 94.4 |
| Northern Virginia / Washington, D.C. | 57,111 | 1,584 | 9.9 | 69.1 |
| New York | 54,946 | 1,047 | 9.5 | 92.7 |
| Minneapolis | 44,431 | 1,434 | 7.7 | 83.5 |
| Boston | 34,079 | 936 | 5.9 | 84.6 |
| Other (1) | 20,691 | 614 | 3.6 | 91.2 |
| $578,722 | 14,921 | 100.0 | 89.6 |
(1)Includes 1430 Enclave Parkway and Enclave Place in Houston, Texas.
The following table shows lease expirations of our in-service office portfolio as of December 31, 2025 during each of the next twelve years and thereafter, assuming no exercise of renewal options or termination rights:
| Year of Lease Expiration | AnnualizedLease Revenue(in thousands) | Percentage ofAnnualizedLease Revenue (%) |
|---|---|---|
| 2025(1) | $2,938 | 0.5 |
| 2026 | 55,048 | 9.5 |
| 2027 | 56,136 | 9.7 |
| 2028 | 50,769 | 8.8 |
| 2029 | 54,270 | 9.4 |
| 2030 | 58,690 | 10.2 |
| 2031 | 45,335 | 7.8 |
| 2032 | 40,110 | 6.9 |
| 2033 | 14,120 | 2.4 |
| 2034 | 50,978 | 8.8 |
| 2035 | 31,943 | 5.5 |
| 2036 | 26,720 | 4.6 |
| 2037 | 48,928 | 8.5 |
| Thereafter | 42,737 | 7.4 |
| $578,722 | 100.0 |
(1) Includes leases with an expiration date of December 31, 2025, comprised of approximately 80,000 square feet.
Certain Restrictions Related to our Properties
As of December 31, 2025, only 1180 Peachtree Street in Atlanta, Georgia was held as collateral for debt, and there were no properties subject to underlying ground leases. Refer to Schedule III listed in the index of Item 15(a) of this report, for further details regarding our properties as of December 31, 2025.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.