City Office REIT Provides Update on Impactful Leasing
City Office REIT (NYSE: CIO) has announced significant leasing achievements at two key properties. At the Terraces property in Dallas, an existing tenant has signed a 60,000 square foot lease, extending their current 44,000 square foot space until 2036 and adding 16,000 square feet. This expansion, set to begin in early 2026, brings the property's occupancy to 95%. Additionally, at Bloc 83 in Raleigh, the commencement of a 29,000 square foot tenant lease has elevated the office component's occupancy to 98%.
City Office REIT (NYSE: CIO) ha annunciato risultati significativi nella locazione di due proprietà chiave. Presso la proprietà Terraces a Dallas, un inquilino esistente ha firmato un contratto di locazione di 60.000 piedi quadrati, estendendo il proprio spazio attuale di 44.000 piedi quadrati fino al 2036 e aggiungendo 16.000 piedi quadrati. Questa espansione, che inizierà all'inizio del 2026, porta l'occupazione della proprietà al 95%. Inoltre, presso il Bloc 83 a Raleigh, l'avvio di un contratto di locazione per 29.000 piedi quadrati ha portato l'occupazione della componente uffici al 98%.
City Office REIT (NYSE: CIO) ha anunciado logros de arrendamiento significativos en dos propiedades clave. En la propiedad Terraces en Dallas, un inquilino existente ha firmado un contrato de arrendamiento de 60,000 pies cuadrados, extendiendo su espacio actual de 44,000 pies cuadrados hasta 2036 y agregando 16,000 pies cuadrados. Esta expansión, que comenzará a principios de 2026, eleva la ocupación de la propiedad al 95%. Además, en el Bloc 83 en Raleigh, el inicio de un contrato de arrendamiento de 29,000 pies cuadrados ha elevado la ocupación de la componente de oficina al 98%.
City Office REIT (NYSE: CIO)는 두 개의 주요 부동산에서 중요한 임대 성과를 발표했습니다. 달라스의 Terraces 부동산에서는 기존 세입자가 60,000 평방피트 임대 계약을 맺어 현재 44,000 평방피트 공간의 임대를 2036년까지 연장하고 추가로 16,000 평방피트를 더했습니다. 이 확장은 2026년 초에 시작될 예정이며, 부동산의 점유율을 95%로 끌어올립니다. 또한, 롤리의 Bloc 83에서는 29,000 평방피트 세입자 임대 시작으로 사무실 구성의 점유율이 98%로 상승했습니다.
City Office REIT (NYSE: CIO) a annoncé des résultats de location significatifs dans deux propriétés clés. À la propriété Terraces à Dallas, un locataire existant a signé un bail de 60 000 pieds carrés, prolongeant son espace actuel de 44 000 pieds carrés jusqu'en 2036 et ajoutant 16 000 pieds carrés. Cette expansion, qui doit commencer début 2026, porte le taux d'occupation de la propriété à 95 %. De plus, au Bloc 83 à Raleigh, le démarrage d'un bail de 29 000 pieds carrés a porté le taux d'occupation de la composante bureau à 98 %.
City Office REIT (NYSE: CIO) hat bedeutende Leasing-Erfolge bei zwei wichtigen Immobilien bekannt gegeben. Bei der Terraces-Immobilie in Dallas hat ein bestehender Mieter einen Mietvertrag über 60.000 Quadratfuß unterschrieben, der seinen aktuellen 44.000 Quadratfuß großen Raum bis 2036 verlängert und zusätzlich 16.000 Quadratfuß hinzufügt. Diese Erweiterung, die Anfang 2026 beginnen soll, erhöht die Auslastung der Immobilie auf 95%. Darüber hinaus hat der Beginn eines Mietvertrags über 29.000 Quadratfuß bei Bloc 83 in Raleigh die Auslastung des Bürobereichs auf 98% erhöht.
- Terraces property lease extension secured until 2036, demonstrating long-term tenant commitment
- 16,000 square feet expansion with existing tenant
- Terraces property achieves 95% occupancy rate
- Bloc 83 office component reaches 98% occupancy
- None.
Insights
Both Dallas and Raleigh are experiencing robust office demand, particularly for Class A properties in prime locations. This leasing momentum suggests CIO's portfolio is well-positioned to capture flight-to-quality trends in the office sector. For a REIT with a market cap of
In simpler terms: Picture a landlord getting a great long-term commitment from a reliable tenant while also filling up more space. This means more guaranteed rent money coming in for years to come, which is exactly what investors want to see in a real estate company.
The 16,000 sq ft expansion in Dallas signals business growth from an existing tenant - a powerful market indicator given the broader office sector challenges. The lease extension through 2036 suggests the tenant's confidence in both their business outlook and the property's long-term viability.
Breaking this down for everyday investors: While many office buildings across the country are struggling to keep tenants, CIO is not only keeping them but getting them to commit to longer terms and take more space. This is like having a reliable customer not only continue their business with you but actually increase their orders - a clear sign of health in a challenging market.
The lease extends the tenant's existing 44,000 square foot space until 2036 and expands the tenant's space by 16,000 square feet. Including the expansion space, which is expected to commence in early 2026, the property is now
In addition, with the recent commencement of a 29,000 square foot tenant at Bloc 83 in
James Farrar, the Company's Chief Executive Officer stated, "Leasing activity for premier properties and locations continues to strengthen across the country. We are pleased with our success in driving value through impactful leasing transactions."
About City Office REIT, Inc.
City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 5.6 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for
Forward-looking Statements
This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as "approximately," "anticipate," "assume," "believe," "budget," "contemplate," "continue," "could," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "seek," "should," "target," "will" and similar expressions, and variations or negatives of these words. They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include, among other things, changes to CIO's expected liquidity position and the risk factors set forth in CIO's Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent filings with the Securities and Exchange Commission. The statements made herein speak only as of the date of this press release, and, except as required by law, CIO does not undertake any obligation to publicly update or revise any forward-looking statements.
Contact
City Office REIT, Inc.
Anthony Maretic, CFO
+1-604-806-3366
investorrelations@cityofficereit.com
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SOURCE City Office REIT, Inc.
FAQ
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