Piedmont Office Realty Trust Selected as a 2022 Green Lease Leader

Rhea-AI Summary

Piedmont Office Realty Trust (NYSE:PDM) has been recognized as a 2022 Green Lease Leader by the Institute for Market Transformation and the U.S. Department of Energy. This designation highlights Piedmont's commitment to sustainability through high-performance leasing practices. The company received Silver recognition for implementing green leases that enhance occupant health, increase energy efficiency, and modernize facilities. Piedmont's portfolio, valued at approximately $5 billion, consists of about 16 million square feet of Class A office properties mainly located in the Sunbelt region.

Positive

• Recognized as a 2022 Green Lease Leader, indicating strong sustainability practices.
• Achieved Silver recognition for utilizing green leases to enhance energy efficiency and tenant relationships.
• Portfolio valued at approximately $5 billion, suggesting robust market presence.

Negative

• None.

Atlanta, June 08, 2022 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. ("Piedmont") (NYSE:PDM), an owner of Class A office properties located primarily in the Sunbelt, announced today that it was selected as a 2022 Green Lease Leader by the Institute for Market Transformation and the U.S. Department of Energy’s Better Buildings Alliance.

“The Green Lease Leaders designation reflects our commitment to high performance, best practice leasing and the advancement of sustainability across our portfolio,” said Jon Kuskie, Vice President of Sustainability and National Initiatives. “We believe this is an integral part of supporting our primary goal of maximizing value for our tenants and our shareholders.”

The Green Lease Leader program recognizes landlords, tenants and partnering real estate practitioners from a variety of sectors that incorporate green leasing to drive high-performance and healthy buildings. Piedmont was awarded the Silver recognition for using green leases to protect occupant health, increase energy efficiency, modernize buildings and improve tenant-landlord relationships.

About Piedmont Office Realty Trust   

Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in the Sunbelt. Its approximately $5 billion portfolio is currently comprised of approximately 16 million square feet. The Company is a fully-integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets and is investment-grade rated by S&P Global Ratings (BBB) and Moody’s (Baa2). Piedmont is a 2022 ENERGY STAR Partner of the Year. For more information, see www.piedmontreit.com.

About GREEN LEASE LEADERS

Green Lease Leaders is proud to be part of the national trend toward green leases in commercial spaces, this year’s Green Lease Leaders represent portfolios totaling nearly 2 billion square feet (sq. ft.) and comprise a diverse range of buildings from large and small commercial offices to industrial buildings to data centers. Altogether, Green Lease Leaders manage more than 5 billion square feet of commercial and government space across North America, representing a huge potential for growth in green leases.  In the commercial sector alone, green leasing has the potential to affect 8 percent of leased space nationwide. IMT estimates that green leases can help reduce utility bills by up to about 50 cents per square foot (22 percent) in U.S. office buildings alone, and if all leased office buildings executed green leases, the market could reap over $3 billion in annual cost savings.

Learn more about Green Leasing by visiting GreenLeaseLeaders.com or reading Green Lease Leaders’ case studies.

FAQ

What does the Green Lease Leader recognition mean for Piedmont (PDM)?

The Green Lease Leader recognition indicates Piedmont's commitment to sustainable practices and high-performance leasing, enhancing tenant relationships and energy efficiency.

What is Piedmont's portfolio size and value as of 2022?

Piedmont's portfolio is valued at approximately $5 billion and encompasses about 16 million square feet of Class A office properties.

When was Piedmont recognized as a Green Lease Leader?

Piedmont was recognized as a Green Lease Leader in June 2022.

How does green leasing affect costs for commercial spaces like those managed by Piedmont (PDM)?

Green leasing can reduce utility bills by approximately 50 cents per square foot (22 percent) in U.S. office buildings, leading to significant potential cost savings.