Brent Smith, president and CEO of Piedmont Realty Trust (NYSE: PDM), sat down for a video interview during Nareit’s REITworld: 2025 Annual Conference in Dallas on December 8-11.
Smith discussed how evolving workplace expectations are reshaping demand for office space, with companies increasingly emphasizing in-person collaboration to support culture and creativity. While flexible schedules remain common, Smith said many employers now recognize the need for employees to spend more time in the office, raising expectations for what office environments must deliver.
As a result, office landlords are competing not only with neighboring buildings, but also with the work-from-home experience. Smith said Piedmont’s strategy centers on accessibility, walkability, and placemaking, with a focus on assets that offer convenient highway access and vibrant surrounding amenities.
Piedmont has also invested heavily in creating hospitality-inspired environments within its buildings. Smith highlighted elevated service standards across property management, security, engineering, and janitorial teams, all supported by Ritz-Carlton training designed to enhance the tenant experience.
Smith pointed to two key bright spots for the office sector: improving leasing activity driven by return-to-office momentum, and renewed availability of debt capital in both public and private markets. Together, those trends are helping stabilize pricing and support increased transaction activity, he added.
Smith also said successful office environments must support teams of all sizes while providing collaborative spaces that enable productivity throughout the workday.