ATLANTA - October 25, 2012 - Piedmont Office Realty Trust
(NYSE: PDM) announced today that it completed 1,052,361
square feet of total leasing transactions, as well as a
strategic Capital Markets disposition in the third quarter of
2012 . Piedmont also noted that it completed an
additional 565,163 square feet of leasing subsequent to
September 30, 2012.
Significant leasing highlights for the quarter included:
Aon Corporation signed a 396,406 square foot, 15-year new
lease through 2028 at 200 East Randolph Street in
Chicago, IL. After 14 years as a sublease tenant,
the global risk management and HR solutions firm entered
into a new direct lease agreement at the 83-story East
Loop tower that bears its name, Aon Center.
Catamaran, Inc. completed a 300,686 square foot, 12-year
new lease through 2024 at Piedmont's Windy Point II
property, located at 1600 McConnor Parkway in Schaumburg,
General Electric Company signed a 53,972 square foot, 14+
year new lease through 2027 at Piedmont's 500 West
Monroe Street in downtown Chicago. The building
will house the corporate headquarters of GE
Transportation, a unit of General Electric Company, which
will move its current headquarters from Erie,
BGC Brokers US completed a 31,999 square foot, 15+ year
new lease through 2028.
Starr Indemnity & Liability Company signed a 19,718
square foot, 15-year lease renewal, as well as a 7,248
square foot new lease. The 26,966 square foot lease
expires in 2028.
Los Angeles, CA - Guidance Software, Inc. signed a 86,790
square foot, 10+ year new lease through 2024 at 1055 East
Colorado Boulevard in Pasadena, CA.
Houston, TX - Schlumberger Technology completed a 26,358
square foot, 11+ year lease expansion at 1200 Enclave Parkway
in Houston, TX. The expansion is coterminous with its
existing 105,432 square foot lease expiration of 2024.
Denver, CO -Molycorp signed a 25,605 square foot, 5-year new
lease through 2017 at a Piedmont joint venture asset, 8560
Upland Drive in Englewood, CO.
Additionally, the following lease transactions were completed
subsequent to September 30, 2012:
Minneapolis, MN - U.S. Bancorp completed a 395,493 square
foot, 10-year lease renewal through 2024 at
Piedmont's US Bancorp Center, located at 800 Nicollet
Mall in Minneapolis, MN.
Washington, DC - Lockheed Martin Corporation completed a
115,315 square foot, 5-year lease renewal through 2019 at
9221 Corporate Boulevard in Rockville, MD.
Dallas, TX - GE Aviation, a unit of General Electric Co.,
signed a 27,938 square foot, 6-year new lease through 2019 at
6031 Connection Drive in Irving, TX.
Boston, MA - Bank of America completed a 26,417 square foot,
10-year lease renewal through 2024 at 1414 Massachusetts
Avenue in Cambridge, MA.
"We are extremely pleased with our leasing success of
exceeding 1 million square feet during the quarter and over
500,000 additional square feet shortly thereafter," said
C.A. "Bo" Reddic, IV, Executive Vice-President of
Real Estate Operations for Piedmont. "We feel
fortunate to welcome new, large and creditworthy corporate
tenants such as Catamaran and Guidance Software, while
continuing our previously established relationships with many
tenants of this same quality and caliber - Aon, Bank of
America, General Electric, Lockheed Martin,
Schlumberger and US Bank," added Reddic.
Piedmont also announced the following capital markets
transaction in the third quarter:
Greenville, SC - Completed the sale of 110 & 112 Hidden Lake
Circle in Duncan, SC for $25.9 million. STAG Industrial
purchased the two-building, 787,380 square-foot industrial
properties which are currently 100% leased to three tenants.
L. Perrigo Company and ResMed Corporation lease the
474,000 square feet at 110 Hidden Lake Circle, while Arvato
Digital Services leases the remaining 313,380 square feet at
sister building, 112 Hidden Lake Circle.
"This disposition is a true win-win for Piedmont.
It not only reflects our stated strategy of continuing
to exit non-strategic markets, but it also completes the sale
of the last industrial assets in our portfolio," said
Raymond L. Owens, Executive Vice-President, Capital Markets
for Piedmont. "Further aligning with our corporate
goals, this disposition allows us to focus on future capital
reallocation opportunities," added Owens.
About Piedmont: Piedmont Office Realty Trust, Inc. (NYSE:PDM)
is a fully-integrated and self-managed real estate investment
trust (REIT) specializing in high-quality, Class A office
properties located primarily in the ten largest U.S. office
markets, including Chicago, Washington, D.C., New York,
Dallas, Los Angeles and Boston. As of September 30, 2012,
Piedmont's 74 wholly-owned office buildings were
comprised of approximately 20.5 million rentable square feet.
The Company is headquartered in Atlanta, GA with local
management offices in each of its major markets.
Investment-grade rated by Standard & Poor's and
Moody's, Piedmont has maintained a low-leverage strategy
while transacting $5.9 billion and $1.7 billion in property
acquisitions and dispositions, respectively, during its
fourteen year operating history.www.piedmontreit.com.