Piedmont Office Realty Trust Signs Two New Leases for Over 70,000 SF in Dallas Market
ATLANTA and DALLAS, Jun 29, 2010 (GlobeNewswire via COMTEX) --Piedmont Office Realty Trust, Inc. (NYSE:PDM) today announced the completion of two new lease transactions, totaling 71,703 square feet at its 6031 Connection Drive property in Irving, TX.
A global leader in the enterprise software industry completed a new 7-year lease for 55,760 square feet at Piedmont's property in the well-known Las Colinas submarket of suburban Dallas. The tenant was represented by Matthew Miller, Kathy Porter, and Greg Langston of CresaPartners. The owner was represented by Anthony Bolner and Rebecca Rambie of Stream Realty Partners.
Additionally, National Semiconductor, a world leader in power management, signed a new lease for 15,943 square feet at the property. Van Power and David Schrock of NAI Robert Lynn represented National Semiconductor in the transaction, while Stream Realty's team of Rebecca Rambie and Anthony Bolner represented Piedmont.
"We are pleased to welcome two distinguished tenants to our property in metropolitan Dallas and are confident that they will be satisfied with their corporate presence in the much-desired Las Colinas submarket," said Damian Miller, Vice President for Piedmont Office Realty Trust.
"Dallas has traditionally been and continues to be a significant market for Piedmont," added Joe Pangburn, Senior Vice President of Piedmont's Western Region. "The ability to expand an existing relationship with one tenant, while adding National Semiconductor as a new tenant, demonstrates our strategy to attract and retain premier tenants on a national basis."
The two companies will join existing tenants, Archon Group and mobile phone giant, Nokia, at The Commons of Las Colinas business park. Piedmont owns and manages three buildings in the Las Colinas park, one of which serves as the North American headquarters for Nokia.
About Piedmont: Piedmont Office Realty Trust is a public REIT specializing in Class-A office properties. As of March 31, 2010, Piedmont owned 73 office buildings, as well as two industrial and eight investments in unconsolidated joint ventures. The 73 wholly-owned office properties are located in 19 states and the District of Columbia and comprise approximately 20 million square feet. On March 31, 2010, Piedmont's office properties were 89.6 percent leased. For more information, see www.piedmontreit.com.
The Piedmont Office Realty Trust logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5769
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Piedmont Office Realty Trust
CONTACT: Piedmont Office Realty Trust Kerry Hughes + 1 770 418 8678 Kerry.Hughes@Piedmontreit.com