Piedmont Office Realty Trust Secures Large Renewal in Irving, TX
Atlanta, March 17, 2022 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. ("Piedmont") (NYSE:PDM), an owner of Class A office properties located primarily in the Sunbelt, today announced that it has secured a lease renewal through 2028 with a national pharmaceutical retailer for approximately 164,000 square feet at 750 W. John Carpenter Freeway in Irving, Texas. This renewal addresses Piedmont’s largest 2022 expiration with positive economic metrics and currently leaves only 5% in scheduled expirations in the Company’s portfolio for the remainder of 2022.
“We are excited to build upon our valued relationship with an important tenant at this strategic office location,” said Joe Pangburn, Piedmont’s Executive Vice President – Southwest Region. “The sustainability focused, LEED Gold project provides an unmatched onsite amenity set that will be further modernized to ensure the best-in-class work experience for all our tenants at the building.”
750 W. John Carpenter Freeway is located in the heart of Irving with direct visibility from State Highway 114. Piedmont is commencing renovations at the project including a lobby redesign, a tenant amenity lounge, enhanced food service offerings, and expanded outdoor collaboration space. The property also provides tenants with a 100-person conference center and a large, on-site fitness facility in addition to a tenant shuttle for direct access to the Toyota Music Factory and other nearby food and retail amenities.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in the Sunbelt. Its approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. The Company is a fully-integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets and is investment-grade rated by S&P Global Ratings (BBB) and Moody’s (Baa2). Piedmont is a 2021 ENERGY STAR Partner of the Year. For more information, see www.piedmontreit.com.
Contact: Sarah Heimlich
Company: Piedmont Office Realty Trust
Phone: 770 418 8800
Email: investor.relations@Piedmontreit.com
Piedmont Office Realty Trust, Inc.
Symbol: PDM
CIK: 1042776
Exchange: NYSE
Founded: 1997 (27 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Office
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
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Last updated: 2024-12-22 - v1.3