Piedmont Office Realty Trust Completes over 700,000 SF of National Leasing in Second Quarter
ATLANTA - July 22, 2013 - Piedmont Office Realty Trust (NYSE: PDM) announced today that it secured 738,119 square feet of total leasing transactions in the second quarter of 2013.
Significant leasing highlights for the quarter included:
Phoenix, AZ - Avnet, Inc. completed a 132,070 square foot, 8+ year lease renewal through 2024 at 8700 South Price Road in Tempe, AZ.
Minneapolis, MN - A large, global conglomerate signed a 115,754 square foot, 5-year lease renewal through 2019 at Piedmont's Crescent Ridge II property, located at 10900 Wayzata Boulevard in Minnetonka, MN.
Cleveland, OH - TMW Systems, Inc., the leading provider of enterprise software to transportation and logistics companies, completed a 57,911 square foot, 11-year new lease through 2024 at Piedmont's Eastpoint I property, located at 6085 Parkland Boulevard in Mayfield Heights, OH.
Orange County, CA - Conexant Systems, Inc., the leading provider of solutions for imaging, audio, embedded modem, and video surveillance applications, signed a 44,984 square foot, 7+ year new lease through 2020 at 1901 Main Street in Irvine, CA.
Chicago, IL - Aon Corporation completed a 31,702 square foot, 15-year lease expansion at Aon Center, the 83-story East Loop tower that bears its name, at 200 East Randolph Street in Chicago, IL. The lease, which commences in December 2013, now totals 428,108 square feet and expires in 2028.
Dallas, TX - Epsilon Data Management, LLC signed a 27,938 square foot, 5-year new lease through 2018 at 6031 Connection Drive in Irving, TX.
Additionally, the following lease transaction was completed just subsequent to June 30, 2013:
Philadelphia, PA - Independence Blue Cross completed a full-building, 800,695 square foot lease extension through 2033 at Piedmont's 45-story trophy tower, located at 1901 Market Street in downtown Philadelphia, PA.
"We are encouraged by the volume of leasing activity we realized in the first half of 2013," said C.A. "Bo" Reddic, IV, Executive Vice-President of Real Estate Operations for Piedmont. "As the competition for tenants remains strong, we are pleased to be extending relationships with reputable tenants such as Independence Blue Cross, Avnet, and Aon, while also welcoming new tenants such as TMW Systems, Conexant Systems, and Epsilon Data Management. We believe our success is largely a testament to the quality of our buildings and superior operational capabilities of our property management teams," added Reddic.
About Piedmont: Piedmont Office Realty Trust, Inc. (NYSE: PDM) is a fully-integrated and self-managed real estate investment trust (REIT) specializing in high-quality, Class A office properties located primarily in the ten largest U.S. office markets, including Chicago, Washington, D.C., New York, Boston, Los Angeles and Dallas. As of June 30, 2013, Piedmont's 74 wholly-owned office buildings were comprised of nearly 21 million rentable square feet. The Company is headquartered in Atlanta, GA, with local management offices in each of its major markets. Piedmont is investment-grade rated by Standard & Poor's and Moody's and has maintained a low-leverage strategy while acquiring and disposing of properties during its fifteen year operating history. For more information, see www.piedmontreit.com.
Contact: Kerry Hughes
Company: Piedmont Office Realty Trust
Phone: 1 770 418 8678