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Orion Properties (NYSE:ONL) shares are trading higher on Friday after the company provided 2025 year-to-date leasing and sales updates.
What To Know: The company announced $19.1 million in vacant property sales from three buildings, with two more under contract for $27.3 million and expected to close later this year.
Orion has leased about 425,000 square feet so far this year. The weighted average lease term is 7.7 years. That includes a 15.7-year lease for 46,000 square feet in New Jersey and a new 10-year, 160,000-square-foot lease in Buffalo.
It reported approximately $243.9 million in cash on hand as of April 10.
“We have successfully started 2025 with robust leasing momentum that builds upon the 1.1 million square feet of leasing activity we executed on in the prior year, in addition to $46.4 million in vacant or near vacant property asset sales that have closed or will close during the year,” stated Paul McDowell, Orion’s CEO.
ONL Price Action: At the time of writing, Orion shares are trading 3.87% higher at $1.61, according to data from Benzinga Pro.
Image: This illustration was generated using artificial intelligence via Midjourney.
Posted In: ONL
