Piedmont Office Realty Trust Signs Archon Group to Expansion, Metro Dallas
Real Estate Firm Takes Additional 83,000 Square Feet in Irving
NORCROSS, Ga. (April 10, 2008) -- Piedmont Office Realty Trust has signed Archon Group, an international real estate investment management firm, to a new 83,000-square-foot lease in metropolitan Dallas, expanding its corporate headquarters.
The new lease is in a premium Class-A three-building project, owned by Piedmont, in the upscale Las Colinas area of Irving, Texas, at the convergence of George Bush Turnpike, John Carpenter Freeway and Connection Drive. The complex includes Archon Group’s international headquarters at 6011 Connection Drive; Archon will now take three floors in the nearby 6031 building on a 10-year lease.
“We’re glad for the opportunity to work with Archon on their expansion needs,” said Damian Miller, director of asset management for Piedmont. “They’re an excellent tenant for us, and with three adjacent properties, we were able to accommodate their need for new space, within the same project – giving them the proximity and the high quality they were looking for.”
The property was constructed in 1999 and offers convenient highway access and numerous amenities. Rebecca Smith, Blaine Annett, and Jon Altschuler of Stream Realty Partners represented Piedmont; Stream also is marketing the remaining 150,000 square feet of available space in the nine-story 6031 building. Jeff Ellerman and Brad Selner of The Staubach Company – Southwest represented Archon.
Piedmont, a public, nontraded REIT specializing in Class-A office properties, owns six properties in the metro Dallas area. Nationwide, as of Dec. 31, Piedmont has ownership in 83 buildings in 23 states and Washington, D.C. Across the portfolio, Piedmont properties are approximately 94 percent leased. For more information, see www.piedmontreit.com.