State of New York Restructures Lease and Extends Occupancy at 60 Broad Street
ATLANTA and NEW YORK, Jan. 5, 2010 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. announced today that the State of New York has restructured its 480,708 square-foot lease at the building known as 60 Broad Street in New York, NY. The tenant has occupied space in the building since 1997 and will continue its tenancy through April, 2019. The State of New York lease is comprised of five separate state agencies, and represents the largest tenant in the 984,000 square foot property.
Messrs Arthur Stern, Anthony Stapleton, Eric Sarner and Ross Jacobs of Cogswell Realty, LLC represented Piedmont, as its exclusive leasing agent at 60 Broad Street. "We're delighted to have retained this very important client. Throughout the process, the State team led by Jim Sproat and Don Courselle, was extremely diligent in all efforts to conclude this transaction," said Mr. Stern, CEO of Cogswell.
About Piedmont: Piedmont Office Realty Trust is a public, non-traded REIT specializing in Class-A office properties. As of September 30, 2009, Piedmont owned 83 buildings, including 8 joint venture interests. The wholly-owned portfolio totals approximately 21 million square feet, in 22 states and Washington, D.C.
About Cogswell: Cogswell Realty, LLC is a full service real estate company originally founded in 1996. Cogswell Realty is located in Midtown Manhattan and has properties located throughout the tri-state area. Management and leasing services are provided for both properties owned and for third parties. Its current portfolio includes over 3,000,000 square feet of commercial space and over 400 apartments. Additional services included consulting and construction management.
The Piedmont Office Realty Trust logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5769
CONTACT: Piedmont Office Realty Trust Kerry Hughes + 1 770 418 8678 Kerry.Hughes@piedmontreit.com
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