Piedmont Office Realty Trust Announces 2016 First Quarter Leasing Results
ATLANTA - April 19, 2016 - Piedmont Office Realty Trust (NYSE: PDM) announced today that it secured approximately 353,000 square feet of total leasing in the first quarter of 2016, with almost half related to new tenants.
Significant leasing highlights of transactions approximately 20,000 square feet or greater for the quarter included:
Austin, TX - Telogis, Inc. signed a 29,220 square foot, 3-year new lease through 2019 at Braker Pointe III, located at 10801-III N. MoPac Expressway in Austin, TX.
Dallas, TX - GKN Aerospace completed a 27,938 square foot, 11+ year new lease through 2027 at 6031 Connection Drive in Irving, TX.
Sarasota, FL - Vertex, Inc. signed a 25,809 square foot, 5+ year lease renewal through 2021 at Piedmont's Sarasota Commerce Center II, located 101 Paramount Drive in Sarasota, FL.
Atlanta, GA - Bomgar completed a 21,171 square foot, 7-year lease renewal and expansion through 2023 at 11695 Johns Creek Parkway in Johns Creek, GA.
Detroit, MI - McKinsey & Company, Inc. signed a 19,894 square foot, 5+ year lease renewal through 2021 at 150 West Jefferson Avenue in Detroit, MI.
"Our leasing numbers for the first quarter reflect the impact of closing such a large number of leases in the fourth quarter last year, and perceived caution by tenant prospects early in the quarter regarding the overall economy," said C.A. "Bo" Reddic, IV, Executive Vice-President of Real Estate Operations for Piedmont. "However, leasing interest has picked up significantly in many of our markets, and we are optimistic on activity for the remainder of the year," added Reddic.
About Piedmont Office Realty Trust:
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties located in select sub-markets of major U.S. cities. Its geographically-diversified, over $5 billion portfolio is comprised of approximately 20 million square feet. The Company is a fully-integrated, self-managed real estate investment trust (REIT) with local management offices in each of its major markets and is investment-grade rated by Standard & Poor's (BBB) and Moody's (Baa2). For more information, see www.piedmontreit.com.
Contact: Kerry Hughes
Company: Piedmont Office Realty Trust
Phone: 1 770 418 8800