Brandywine Realty Trust
), a real estate investment trust (REIT), recently reported its
total record of leasing activities in the second quarter of 2012.
Brandywine Realty stated that it has signed leasing agreements for
approximately 709,207 square feet of space, comprising 239,871
square feet of new leases and 469,336 square feet of renewed
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To date, the company has signed over 1.4 million square feet of
leasing agreement, taking into account 740,168 square feet of lease
agreements signed in the first quarter of 2012. Including the
latest leasing agreements, Brandywine Realty has achieved 87% of
its targeted leasing in 2012.
Of the new lease agreements, 28,478 square feet of space was leased
in the second quarter of 2012 and for another 211,393 square feet
of space, the leasing period will start in the coming quarters of
2012 and beyond. Of the renewed lease agreements, leasing period
for 49,623 square feet of space commenced in second quarter 2012
and for 419,623 square feet of space it will start later in 2012
Brandywine Realty primarily focuses on strong leasing activity and
high tenant retention. Along with these, the company is focused on
returning shareholders' value through high-quality asset
management, exceptional market knowledge and commitment to the
soundest investment strategies.
The company signed lease agreements for properties situated in core
markets across the United States. The company leased 149,421 square
feet in Pennsylvania, 113,081 square feet in Metro DC, 112,675
square feet in Austin, 109,899 square feet in Richmond in Virginia,
90,537 square feet in Philadelphia CBD, 81,916 square feet in New
Jersey and 51,678 square feet in California. Some of the renowned
tenants of Brandywine Realty are
Johnson Controls, Inc.
), Vion Corporation, Edison Ventures, Hankins and Anderson and
Radnor, Pennsylvania-based Brandywine Realty is one of the largest,
publicly traded integrated real estate companies in the United
States. Brandywine Realty owns, develops, manages and has ownership
interests in a primarily Class A, suburban and urban office
portfolio in vibrant markets across U.S. As of March 31, 2012, the
company's portfolio comprised 306 properties totaling 34.6 million
Brandywine Realty is scheduled to release its second quarter 2012
earnings on July 25. The Zacks Consensus Estimate for the second
quarter 2012 FFO (fund from operations) is pegged at 30 cents per
share. Funds from operations, a widely accepted and reported
measure of REIT's performance, is derived by adding depreciation,
amortization and other non-cash expenses to net income. We
presently have a long-term Neutral recommendation on the stock.
Also, it holds a Zacks #3 Rank (a short-term Hold rating).