Orion Office REIT (NYSE:ONL) said its first-quarter results reflected continued progress on leasing, asset sales and balance-sheet management, while its board and management continue to evaluate strategic options with advisers Wells Fargo and JPMorgan.
Chief Executive Officer Paul McDowell said the strategic review process is “ongoing and progressing well,” but added that the company is not yet prepared to discuss specifics or timing. He said Orion remains open to “any actionable proposals that maximize shareholder value,” while continuing to execute its business plan as a standalone company.
