2 unchanged sentences
Square Feet Occupancy Percentage of Annualized GAAP Rental Revenue (1)
−Removed: Raleigh 6,197,000 90.2 % 22.2 %
Nashville 5,098,000 89.0 % 20.3 %
+Added: Raleigh 5,592,000 88.6 20.2
Atlanta 4,935,000 83.7 16.5
15 unchanged sentences
Net Change in Rentable Square Footage (12) (378) 182
+Added: (1) Increase in square footage during 2024 is due to the inclusion of in-service properties owned by consolidated and unconsolidated joint ventures (at our share).
+Added: See Explanatory Note.
The following table sets forth operating information about our portfolio:
6 unchanged sentences
2024 88.0 % $ 33.73 $ 33.18
−Removed: (1) Annualized GAAP Rent Per Square Foot is rental revenue (base rent plus cost recovery income, including straight-line rent) for the month of December of the respective year multiplied by 12, divided by total occupied rentable square footage.
+Added: (1) Annualized GAAP Rent Per Square Foot is GAAP rental revenue (base rent plus cost recovery income, including straight-line rent) for the month of December of the respective year multiplied by 12, divided by total occupied rentable square footage.
(2) Annualized Cash Rent Per Square Foot is cash rental revenue (base rent plus cost recovery income, excluding straight-line rent) for the month of December of the respective year multiplied by 12, divided by total occupied rentable square footage.
6 unchanged sentences
Asurion 543,794 28,042 3.51 11.8
−Removed: Federal Government 784,598 22,177 2.80 4.7
Metropolitan Life Insurance 667,228 21,228 2.66 6.2
+Added: Federal Government 736,663 21,120 2.64 4.0
Bridgestone Americas 506,128 19,684 2.46 12.7
PPG Industries 370,927 11,284 1.41 6.5
−Removed: Mars Petcare 223,700 9,820 1.24 7.4
Vanderbilt University 294,389 9,672 1.21 4.9
−Removed: EQT 317,052 7,905 1.00 0.8
−Removed: Bass, Berry & Sims 213,951 7,649 0.97 1.1
+Added: Mars Petcare 223,700 9,194 1.15 6.4
Albemarle Corporation 162,368 7,154 0.90 9.1
−Removed: Deloitte & Touche 158,914 6,630 0.84 6.1
+Added: Bass, Berry & Sims 213,951 6,987 0.87 0.1
Morgan Chase & Co.
183,864 6,508 0.81 3.4
−Removed: Novelis 168,949 5,863 0.74 0.7
−Removed: Lifepoint Corporate Services 202,991 5,759 0.73 5.2
State of Georgia 302,443 6,144 0.77 1.6
−Removed: Regus 169,833 5,498 0.69 4.8
−Removed: CapFinancial Group 120,847 5,447 0.69 9.6
+Added: Deloitte 132,328 6,027 0.75 5.9
+Added: Lifepoint Corporate Services 202,991 5,814 0.73 4.2
Delta Community Credit Union 128,589 5,531 0.69 7.8
+Added: CapFinancial Group 120,847 5,495 0.69 8.6
+Added: Regus 169,833 5,368 0.67 5.6
+Added: Fisher Asset Management 179,184 5,255 0.66 5.3
The Cigna Group 180,728 5,187 0.65 3.0
+Added: Global Payments 168,051 5,055 0.63 8.2
Total 6,136,446 $ 220,917 27.64 % 7.3
33 unchanged sentences
Midtown East Tampa 50.0 % N 143,000 83,000 53,510 34.5 1Q 25 2Q 26
−Removed: Four Morrocroft (2)
−Removed: Charlotte 100.0 % Y 18,000 12,000 9,392 100.0 2Q 24 2Q 24
+Added: GlenLake Two Retail (2) Raleigh 100.0 % Y 8,600 8,100 1,241 100.0 1Q 26 1Q 26
793,600 $ 551,100 $ 354,173 57.1 %
(1) Includes estimated lease up costs for tenant improvements and lease commissions until the property has reached stabilization.
−Removed: (2) Investment includes deferred lease commissions which are classified in deferred leasing costs on our Consolidated Balance Sheet.
+Added: (2) Will be recorded in development-in-process on our Consolidated Balance Sheets once we begin construction on the project.
Land Held for Development
9 unchanged sentences
292,000 50.0 89.4
−Removed: 351,000 50.0 93.7
+Added: Richmond 354,000 50.0 100.0
152,000 80.0 100.0
1 unchanged sentence
(1) Weighted Average Ownership Interest is calculated using Rentable Square Feet.
−Removed: (2) Excludes our 26.5% ownership interest in a real estate brokerage services company.
−Removed: (3) The joint venture in Richmond was deconsolidated effective January 1, 2023 and is now accounted for using the equity method of accounting.
−Removed: (4) The joint venture in Tampa is consolidated.
+Added: (2) Excludes our 26.5% unconsolidated ownership interest in a real estate brokerage services company.
+Added: (3) The Midtown West joint venture in Tampa is consolidated.
In addition, we own 50.0% interests in 2827 Peachtree (Atlanta), Granite Park Six (Dallas), 23Springs (Dallas) and Midtown East (Tampa), four unconsolidated joint ventures that are currently developing projects that have not yet been placed in service.
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.