What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2022-02-08 compared with 2021-02-09 · 25 added, 25 removed, 95 unchanged (34% of the section changed)

2 unchanged sentences

Square Feet Occupancy Percentage of Annualized Cash Rental Revenue (1)

Atlanta 5,416,000 88.8 % 21.3 %

Nashville 4,567,000 92.8 19.8

Raleigh 6,335,000 92.8 % 22.9 %

Nashville 5,118,000 94.8 21.5

Atlanta 4,925,000 87.6 17.2

Tampa 3,328,000 88.7 12.0

Charlotte 1,611,000 94.2 7.7

Pittsburgh 2,152,000 92.6 7.5

1 unchanged sentence

Richmond 1,851,000 87.2 4.5

Charlotte 841,000 89.6 4.0

Other 299,000 87.8 0.6

27 unchanged sentences

Bank of America 652,313 27,286 3.67 12.2

Bridgestone Americas 506,128 18,195 2.76 16.7

Asurion, LLC 543,794 21,010 2.82 14.8

Metropolitan Life Insurance 667,228 19,275 2.59 9.1

Mars Petcare 223,700 9,850 1.49 10.4

Bridgestone Americas 506,128 18,104 2.43 15.7

PPG Industries 360,364 10,262 1.38 9.5

Mars Petcare 223,700 9,438 1.27 9.4

Vanderbilt University 294,389 9,337 1.25 4.4

EQT Corporation 317,052 8,138 1.09 2.8

Tivity 263,598 7,717 1.17 2.2

Bass, Berry & Sims 213,951 8,052 1.08 3.1

Tivity 263,598 7,803 1.05 1.2

American General Life 173,834 6,666 0.90 5.1

Novelis 168,949 6,308 0.85 2.7

Albemarle Corporation 162,368 5,967 0.80 12.1

State of Georgia 288,443 5,813 0.78 3.0

1 unchanged sentence

PNC Bank 162,223 5,389 0.72 5.9

Delta Community Credit Union 128,589 4,885 0.74 11.8

Avanos Medical 193,199 4,713 0.71 8.2

Marsh USA 136,246 4,667 0.71 6.6

Willis Towers Watson 162,849 4,564 0.69 3.3

Global Payments 168,051 4,537 0.69 12.2

Marsh USA, Inc.

136,246 5,137 0.69 5.7

Cigna 180,728 5,026 0.68 6.0

Regus PLC 169,833 4,999 0.67 6.2

Total 6,747,065 $ 219,277 29.46 % 8.7

33 unchanged sentences

($ in thousands)

GlenLake Seven (2)

GlenLake III Office & Retail (2)

Raleigh 218,250 $ 94,600 $ 7,329 14.6 % 3Q 23 1Q 26

Midtown West (3)

Tampa 150,000 71,300 47,069 6.6 2Q 21 4Q 22

Asurion Nashville 552,800 285,000 225,727 98.3 4Q 21 1Q 22

2827 Peachtree (3)

Atlanta 135,300 79,000 12,158 62.4 3Q 23 1Q 25

353,550 $ 173,600 $ 19,487 32.9 %

(1) Includes deferred lease commissions which are classified in deferred leasing costs on our Consolidated Balance Sheets.

(2) Recorded on our Consolidated Balance Sheets in land and buildings and tenant improvements, not development in-process.

(3) We own an 80.0% interest in this consolidated joint venture.

(1) Includes deferred lease commissions which are classified in deferred leasing costs on our Consolidated Balance Sheet.

(2) Retail portion recorded on our Consolidated Balance Sheet as land held for development, not development in-process.

(3) We own a 50% interest in this unconsolidated joint venture.

Land Held for Development

We wholly owned 220 acres of development land at December 31, 2020.

We estimate that we can develop approximately 5.0 million rentable square feet of office space on the 161 acres that we consider core assets for our future development needs.

Our core development land is zoned and available for development, and nearly all of the land has utility infrastructure in place.

We believe that our commercially zoned and unencumbered land gives us a development advantage over other commercial real estate development companies in many of our markets.

At December 31, 2021, we estimate that we can develop approximately 4.7 million rentable square feet of office space on the wholly-owned development land that we consider core assets for our future development needs.

Our core office development land is zoned and available for development, and nearly all of the land has utility infrastructure in place.

We believe that our commercially zoned and unencumbered land gives us a development advantage over other commercial office development companies in many of our markets.

We also own additional development land on which we or third parties can develop approximately 4.3 million square feet of mixed-use real estate projects, including retail and multi-family.

Joint Venture Investments

3 unchanged sentences

291,504 50.0 % 87.2 %

Raleigh 636,000 25.0 91.0

345,344 50.0 99.2

150,000 80.0 10.7

Total 786,848 55.7 % 77.9 %

1 unchanged sentence

(2) Excluding our 26.5% ownership interest in a real estate brokerage services company.

(3) This joint venture is consolidated.

In addition, we own an 80.0% interest in Midtown One, a consolidated joint venture.

(3) This joint venture, which is consolidated, owns a newly completed, but not yet stabilized office property.

In addition, we own a 50.0% interest in 2827 Peachtree, an unconsolidated joint venture.

Properties - In-Process Development.”

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties