Piedmont Office Realty Trust Secures a Fortune 500 Company Corporate Relocation
Atlanta, June 09, 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 the corporate relocation for 55,000 RSF of Builders FirstSource, a Fortune 500 company, to 6031 Connection Drive, part of the larger Las Colinas Connection project. With the relocation of Builders FirstSource, this brings an additional Fortune 500 company to the Irving - Las Colinas area.
“We are thrilled to welcome Builders FirstSource to Las Colinas Connection,” said Damian Miller, Piedmont’s Senior Vice President – Southwest Region, “6031 Connection Drive provides them the opportunity to access some of the area’s best talent and design space to meet their needs while additionally offering their employees a modern workplace focused on wellness, productivity, and efficiency.”
“We’re proud to reaffirm our commitment to Texas with the relocation of our corporate headquarters to Las Colinas,” said Dave Flitman, President and CEO of Builders FirstSource. “The new office provides our team members with an exceptional work environment and offers flexibility for us to expand our team to meet growing business needs. Most importantly, the space strengthens our ability to collaborate and be more efficient as we continue providing industry-leading service and solutions to professional home builders and remodelers.”
Las Colinas Connection provides tenants with a differentiated setting featuring outdoor seating areas and nearby walking trails. The property is WELL Health-Safety Rated and features a newly renovated lobby and common areas, updated fitness center, enhanced conference center, and a modern grab-and-go market. This location provides direct access to Highway 114 and 161 George Bush Freeway, DFW Airport, and over 60 nearby amenities located within 1.5 miles of the building. It also serves as home to companies such as Gartner and Epsilon and continues to attract corporate users for their headquarter needs.
“Builders FirstSource is the perfect tenant for Las Colinas Connection. The property has always served as a home to corporate headquarters, so adding an additional headquarters to the roster was a huge win for ownership and the City of Irving. We are grateful to the Colliers team for providing the opportunity,” said Sarah Kennington of Thirty-Four Commercial.
“Builders FirstSource is a growing company, with quality services and products that are in high demand throughout the country. On behalf of the City of Irving, we thank the company for choosing Irving-Las Colinas for its new corporate headquarters,” said Irving Mayor Rick Stopfer. “We look forward to building a partnership and integrating Builders FirstSource and its employees into the community soon.”
“We’re excited to welcome Builders FirstSource, a quality Fortune 500 corporate headquarters to our community,” said Beth A. Bowman, President & CEO of the Greater Irving-Las Colinas Chamber of Commerce and the Irving Economic Development Partnership. “This relocation is another testament to Irving-Las Colinas’ reputation as the Headquarters of Headquarters. With access to a large, highly-skilled workforce, ease of connectivity and innovative transportation options, various housing choices and desirable amenities, we’re certain Builders FirstSource will enjoy in its new home, in Irving-Las Colinas.”
Travis Ewert and Billy Vahrenkamp with Colliers represented Builders FirstSource in the transaction. Sarah Kennington and Bryce Jackson with Thirty-Four Commercial along with Joel Pustmueller with JLL represented Piedmont Realty Trust.
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 16 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 2022 ENERGY STAR Partner of the Year. For more information, see www.piedmontreit.com.
About Thirty-Four Commercial
Founded in 2017 by Sarah Hinkley Kennington, Thirty-Four Commercial, Inc. is a Dallas based commercial real estate firm. Thirty-Four Commercial focuses on Class A office leasing, brokerage, and property management. Combining their relationships in the local market with their expertise in office leasing, Thirty-Four Commercial provides expanded opportunities for their business partners and clients. From marketing a building, finding the ideal corporate location to representing their clients in all facets of a lease negotiation, they are engaged in each step of the process. Delivering focused resilient efficiency, Thirty-Four’s services put the client first. For more information about Thirty-Four Commercial Inc., please visit www.thirty-four.com.
About Builders FirstSource
About Builders FirstSource Headquartered in Dallas, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery, and installation of a full range of structural and related building products. We operate in 42 states with approximately 565 locations and have a market presence in 47 of the top 50 and 85 of the top 100 MSA’s, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (certain of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other building products.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $57 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
Contact: Sarah Heimlich, Director of Marketing 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