Piedmont REIT Names CBRE Leasing Agent at Glenridge Highlands II

Nov 26, 2007
SANDY SPRINGS, Ga. (Nov. 26, 2007) – Piedmont Office Realty Trust Inc. has retained CB Richard Ellis as leasing agent for Glenridge Highlands II. The distinctive tower is the headquarters of AT&T’s wireless unit, formerly known as Cingular.

The property is fully leased, but an exit option for December 2008 could make available up to 320,000 square feet, along with an opportunity to rebrand the building, which faces Georgia 400.

“We have an outstanding lead tenant at this building, and we would love to continue that relationship,” said George Wells, senior vice president, Piedmont. “At the same time, it’s appropriate that we be prepared for inquiries about the property, and CBRE will help us in that regard.”

Tom Miller and Justen Cimino will lead the CBRE team at Glenridge Highlands II. “This is a beautiful, iconic building with excellent freeway access in a popular north Atlanta submarket,” Miller said. “If we have a sizeable vacancy, it should present a very attractive option for one or more tenants.”

The Class-A, 414,000-square-foot building is located at 5565 Glenridge Connector; other tenants include investment banker Smith Barney; accounting firm Habif, Arogeti & Wynne; and the Ashford Club.

Piedmont, specializing in Class-A office properties, currently owns 82 buildings totaling more than 21 million square feet in 23 states and Washington, D.C. Properties include the corporate headquarters of such other organizations as U.S. Bancorp, NASA and Nestlé USA. Across the portfolio, Piedmont properties are 94 percent leased. For more information, see www.piedmontreit.com.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including discussions regarding Piedmont’s use of proceeds and certain other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that may cause actual results to differ materially include changes in general economic conditions, changes in real estate conditions, construction delays, increases in interest rates, lease-up risks, lack of availability of financing, and lack of availability of capital proceeds. Piedmont REIT is closed to new investors. SEC filings: www.sec.gov.
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