NASA HQ renews at Piedmont's Two Independence Square in Washington DC
ATLANTA and WASHINGTON DC, February 24, 2011 - Piedmont Office Realty Trust, Inc. (NYSE: PDM) today announced the completion of a 15-year lease renewal with The United States Government at its 300 E Street, S.W. property in Washington DC. Under BOMA 96 measurement standards, the size of the lease has increased by 45,346 square feet to 597,253 square feet.
The General Services Administration (GSA), which acts as the real estate arm for the U.S. Government, signed the lease on behalf of the National Aeronautics and Space Administration (NASA). The prominent government agency will remain in place at Piedmont's Two Independence Square, where it has been headquartered for almost 20 years.
Marcy Owens Test, Joe Brennan and William Hill of Jones Lang LaSalle represented the landlord in the transaction, while Henry Chapman and Leroy Battle of CB Richard Ellis represented the GSA. Kevin Terry acted as the GSA Contracting Officer in the deal. Piedmont's team was led by Ken Mulrane, George Wells and Jason Williams.
"Piedmont is excited to announce another renewal of a high-quality government agency. After eight years of partnering with NASA at 300 E Street, we look forward to further enhancing the building's efficiencies and aesthetic attributes in order to meet NASA's needs," commented Ken Mulrane, Vice President for Piedmont Office Realty Trust. "Most importantly, we appreciate the efforts of both NASA and the GSA in making a long-term commitment to 300 E Street," added Mulrane.
"This renewal of NASA's headquarters operation, not only furthers our relationship with the U.S. Government, but also secures its position as the largest tenant in our portfolio." said George Wells, Senior Vice President for Piedmont.
About Piedmont: Piedmont Office Realty Trust is a public REIT specializing in Class-A office properties, located primarily in the ten largest U.S. office markets. As of December 31, 2010, Piedmont owned 75 office buildings, as well as two industrial properties and seven investments in unconsolidated joint ventures. The 75 wholly-owned office properties are located in 19 metropolitan areas across the United States and comprise over 20 million square feet. At December 31, 2010, Piedmont's office properties were 89.2 percent leased. The Company is headquartered in Atlanta, Georgia with regional property management offices in Boston, Chicago, Dallas, Detroit, Los Angeles, Minneapolis, Tampa and Washington, D.C. For more information, see www.piedmontreit.com.
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