Aon Signs New Lease at Piedmont's 200 E. Randolph in downtown Chicago
ATLANTA and CHICAGO, October 2, 2012 - Piedmont Office Realty Trust, Inc. (NYSE:PDM) today announced the completion of a new 15-year lease with Aon plc (NYSE:AON) totaling 396,406 square feet at its 200 East Randolph Street property in Chicago, Illinois. After 14 years as a sublease tenant in the 83-story East Loop tower, the global risk management and HR solutions firm will enter into a new direct lease agreement, commencing December, 2013.
"We are excited that Aon has decided to retain our 200 East Randolph property as the headquarters for its Americas business," said Piedmont President and CEO, Donald A. Miller, CFA. The iconic presence and long term branding of such a reputable tenant makes Aon Center one of the most prominent buildings in the downtown Chicago skyline and, proudly one of the true flagships in our national portfolio," Miller concluded.
The tenant was represented by Meredith O'Connor of Jones Lang LaSalle and Studley's Greg Gerber. The owner was represented by Steve Smith and Mike Curran of Jones Lang LaSalle. Piedmont's team was led by Damian Miller and Joe Pangburn.
"After enjoying Aon's presence in our building for many years, we are extremely pleased to transition them from a subtenant to a direct tenant status within our portfolio," said Damian Miller, Vice President for Piedmont Office Realty Trust. "This deal could not have been accomplished without the diligence of many people. We appreciate the efforts of all involved and look forward to continuing our relationship with Aon in the years ahead," he added.
Opened in 1972, Aon Center offers spectacular views of the city, Lake Michigan and Millennium Park. The building offers one of the best amenity packages in the city, including the Mid America Club, and a 205-seat auditorium with an audio-visual system. The building has direct internal access to the four-star Fairmont Hotel and the seven-story Lakeshore Athletic Club from its lower lobby. Most notably, Aon Center has earned both the prestigious Energy Star Label and Building Owners and Manager Association's (BOMA) 360 designation. Additionally, it was a 2010 winner of BOMA's top international honor, The Office Building of the Year (TOBY) award.
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 June 30, 2012, Piedmont's 74 wholly-owned office buildings were comprised of over 20 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. For more information, see www.piedmontreit.com.
Contact: Kerry Hughes
Phone: 1 770 418 8678