Piedmont Signs Travelers to Lease in Troy, Mich.
Property of Piedmont Office Realty Trust in Suburban Detroit
NORCROSS, Ga. (April 10, 2008) - Piedmont Office Realty Trust today announced it has signed The Travelers Indemnity Company to a 45,000-square-foot, five-year lease at 1441 West Long Lake Road in Troy, Mich.
"We're pleased to secure such a high-caliber tenant as Travelers," said Damian Miller, director of asset management for Piedmont, a real estate investment trust.
The 107,000-square-foot building, built in 1999, was acquired by Piedmont in 2000. Piedmont was represented by Miller, with Casey Powell of Transwestern; Travelers was represented by Scott Goldman and Brian Piergentili of Equis Corporation. Powell will handle additional leasing for the property.
Piedmont specializes in Class-A office properties; as of Dec. 31, 2007, Piedmont owns 83 buildings totaling more than 21 million square feet in 23 states and Washington, D.C. Properties include the corporate headquarters of such organizations as AT&T Wireless, U.S. Bancorp, NASA and Nestle USA. Across the portfolio, Piedmont properties are 94 percent leased. For more information, see www.piedmontreit.com.