Brandywine Realty Trust Announces Strong Leasing Opportunity with Investing.com

PHILADELPHIA, Jan. 21, 2025 (GLOBE NEWSWIRE) — Brandywine Realty Trust (NYSE: NYSE: ) today announced strong leasing activity across its portfolio, reflecting steady demand for high-quality office, and multi-use space.

From last quarter to today, the Company has executed 650,000 square feet of leasing activity across its portfolio, highlighting the strength of the Brandywine core while demonstrating the continued growth of fulfilling leases in its development pipeline. The fourth quarter activity was the highest in 2024 and 18% more than the fourth quarter of 2023. The average duration of employment for the quarter was 9.4 years with a total of 2024 of 2.2 million square meters.

Brandywine’s core portfolio remains a solid foundation for the company, with more than 82% of new lease activity from tenants, moving into high-quality space. In addition to strong leasing in our existing properties, we continue to make progress in leasing in our development projects, strengthening the long-term value of the strategy integrated application. These greater needs of employers are now focused on the occupancy of 2026 which may make the business development plans stable in 2026.

We are pleased with the continued hiring performance across our portfolio, which reflects the strength of our high-quality properties and the appeal of our dynamic, mixed-use developments, said Jerry Sweeney, President and CEO of Brandywine Realty Trust. Our core portfolio remains the core of our business. Although the stability of our business plans is expected in 2026, the pace of hiring that we see confirms the ambition of our plans and the expectations of creating long-term value of our investments. Our mixed-use realignment strategy positions us to capture future growth as the office market continues to stabilize.

About Brandywine Realty Trust

Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a focus on the Philadelphia markets and Austin. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, downtown and transit-oriented property with 147,000 sq. 21.1 million as of September 30, 2024. Our mission is to create, connect and inspire the world around us with our expertise, the relationships we foster, the communities we live and work in, and the history we build together. For more information, please visit www.brandywinerealty.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can be identified generally by our use of forward-looking words such as will, plan, expect, want, believe, ability, or similar words. Because such statements involve known and unknown risks, uncertainties and contingencies, actual results may differ materially from the expectations, plans, beliefs, plans or future projections expressed or implied by such forward-looking statements. These forward-looking statements, including our 2025 guidance, are based on our management’s current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties, many of which they are difficult to predict, not in our control. Such risks, uncertainties and contingencies include, among others: risks related to the impact of potential future contagion on our financial condition, results of operations and cash flows and of our employers as well as the economy and real estate and financial markets; reduced demand for office space and pricing pressures, including from competitors, changes in tenant activity patterns that may reduce our ability to lease space or set rents at expected levels or may lead to lower rents ; volatility and volatility in financial and credit markets, including changes that reduce the availability of, and increase the cost of, cash or delay future financing of debt and financing; the effect of inflation and interest rate fluctuations, including the cost of our proposed debt financing and new financing; the potential loss or bankruptcy of tenants or the inability of tenants to meet their rent and other lease obligations; acquisition and disposal risks, including contingent liabilities and merger costs; delays in completing, and cost overruns incurred in connection with, our improvements and improvements; disagreements with joint venture partners; unexpected operating and capital costs; loss coverage risks and our ability to obtain adequate insurance, including coverage for acts of terrorism; additional property damage; our reliance on certain geographic markets; changes in government regulations, tax and fee laws and similar matters; unexpected costs of complying with REIT letters; costs and disruptions due to a cybersecurity incident or other technological disruption; reliance on key personnel; and failure to maintain an effective system of internal control, including internal control over financial reporting. The declaration and payment of future dividends (both timing and amount) is subject to the decision of our Board of Directors, in its sole discretion, after considering various factors, including our financial condition, results of t historical and forecast performance, and available cash flows, as well as any applicable laws and contractual agreements and other relevant information. Our Board’s policy regarding the announcement of earnings may be changed at any time and from time to time. Additional information about matters that may affect us and forward-looking statements is included in our filings with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2023 and Form our 10-Q for the quarter ended September 30, 2024. We undertake no obligation to update or supplement forward-looking statements that are untrue because of of subsequent events except as required by law.

Company / Investor Relations:
Tom Wirth
EVP & CFO
610-832-7434
tom.wirth@bdnreit.com

Heather Crowell
Gregory FCA
215-316-6271
heather@gregoryfca.com

Source: Brandywine Realty Trust