PHILADELPHIA, PA — Brandywine Realty Trust (NYSE: BDN) has reported strong leasing activity, securing 650,000 square feet of leases since last quarter. This achievement reinforces significant demand for high-quality office and mixed-use spaces, highlighting positive momentum within the company’s core portfolio and development pipeline.
The fourth quarter of 2024 marked a high point for Brandywine’s leasing performance, achieving results that were 18% stronger than the same period in 2023. The weighted average lease term for newly executed agreements totaled 9.4 years. For 2024 overall, the company closed leases totaling 2.2 million square feet, emphasizing Brandywine’s ability to attract tenants seeking upgraded spaces.
Over 82% of the leasing activity was driven by tenants transitioning to Brandywine’s high-quality spaces, affirming the enduring strength of its core portfolio. The company has also made notable progress in leasing activity within its development projects. Larger tenant requirements are targeting occupancy in 2026, positioning the commercial development efforts to stabilize during that timeline.
“We are pleased with the continued leasing momentum across our portfolio, which reflects both the strength of our high-quality assets and the appeal of our dynamic, mixed-use developments,” said Jerry Sweeney, President and CEO of Brandywine Realty Trust. “Our core portfolio remains the foundation of our business. While stabilization of our commercial projects is now anticipated in 2026, the leasing momentum we’re seeing reaffirms the desirability of our projects and the long-term value creation prospects of our investments. Our strategy of curating mixed-use environments positions us to capture future growth as the office market continues to stabilize.”
Brandywine’s strong leasing performance underscores its strategic focus on mixed-use developments and high-quality assets, reinforcing its competitive edge and readiness for future market opportunities.
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