Piedmont Announces Leasing Activity for Second Quarter 2018
July 16 2018 - 4:30PM
ATLANTA - July 16, 2018 -
Piedmont Office Realty Trust (NYSE: PDM) announced today that it
completed approximately 425,000 square feet of leasing at its
properties during the second quarter of 2018. Significant leases
signed during the quarter included the following:
- In Houston - Schlumberger
Technology Corporation executed a renewal and expansion totaling
approximately 226,000 square feet at 1430 Enclave Parkway for 10
years through 2028;
- In Atlanta - Access Clinical
Partners, LLC signed a renewal and expansion totaling
approximately 28,000 square feet at Glenridge Highlands One
through 2026;
- In Boston - Symantec
Corporation renewed for approximately 27,000 square feet at 80
Central Street, through 2026;
- In Washington, D.C. -
the Association for the Advancement of Medical Instrumentation
completed a 26,000 square foot new lease for vacant space at
Arlington Gateway for twelve years; and,
- In Chicago - At Two Pierce
Place, Dahlquist and Lutzow Architects executed a renewal and
expansion totaling over 16,000 square feet through 2027, and
Chicago Office Technology Group, Inc. renewed an approximately
13,000 square foot lease through 2024.
Donald A. Miller, CFA, President and Chief
Executive Officer of Piedmont, commented, "We have witnessed
increased prospective leasing activity in all of our strategic
operating markets over the last few months, particularly in
locations such as the Rosslyn-Ballston Corridor in Washington,
D.C.. We believe that this activity is likely to result in
favorable leasing momentum for currently vacant space in the coming
quarters." Mr. Miller also noted, "While we did not close on
any major capital transactions during the second quarter, we are
actively working on several opportunities. We did, however,
repurchase 1.9 million shares of our common stock during the
quarter for $32.9 million, or $17.67 per share."
Commenting further on leasing, Joseph H. Pangburn,
Executive Vice President - Southwest Region of Piedmont said, "We
are extremely pleased to have executed a long-term lease with
Schlumberger at 1430 Enclave Parkway in Houston during the quarter.
In addition, as a result of improving oil markets, we are starting
to see large prospects tour at Enclave Place, our newly-developed
300,000 square foot building located next door."
About Piedmont Office Realty Trust:
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner,
manager, developer, and operator of high-quality, Class A office
properties located in eight major cities in the eastern half of the
U.S. The almost $5 billion portfolio is comprised of approximately
17 million square feet of office space. The Company is a
fully-integrated, self-managed real estate investment trust (REIT)
with local management offices in each of its major markets and is
investment-grade rated by Standard & Poor's (BBB) and Moody's
(Baa2). For more information, see www.piedmontreit.com.
Forward Looking
Statements
Certain statements contained in this press release
constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended (the "Securities
Act"), and Section 21E of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). The Company intends for all such
forward-looking statements to be covered by the safe-harbor
provisions for forward-looking statements contained in Section 27A
of the Securities Act and Section 21E of the Exchange Act, as
applicable. Such forward-looking statements can generally be
identified by our use of forward-looking terminology such as "may,"
"will," "expect," "intend," "anticipate," "believe," "continue" or
similar words or phrases that are predictions of future events or
trends and which do not relate solely to historical matters. The
matters discussed in this press release are forward-looking
statements that are subject to certain risks and uncertainties that
could cause the actual results or performance to differ materially
from those discussed in such statements. Additional risks are
discussed in the Company's filings with the Securities and Exchange
Commission.
Contact: Stephanie
Scurlock
Company: Piedmont Office Realty Trust
Phone: 1 770 418
8800
Email:
investor.relations@Piedmontreit.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Piedmont Office Realty Trust, Inc. via
Globenewswire
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