Piedmont Office Realty Trust, Inc. : Piedmont Office Realty Trust Acquires
Class-A Property in Boston Market
ATLANTA and BOSTON - March 25, 2013 - Piedmont Office Realty Trust (NYSE: PDM)
announced today that it has completed the purchase of 5 & 15 Wayside Road, a
two-building, Class-A property located in Burlington, Massachusetts. The
271,434 square foot office complex is comprised of two interconnected,
four-story and five-story office buildings constructed in 1999 and 2001.The
complex is currently 95% leased to three tenants.
The seller was represented by the Cushman & Wakefield team of Robert E.
Griffin, Jr., Edward C. Maher, Jr., and Matthew Pullen. Wil Stone, Senior
Vice President, Capital Markets, along with Brad Pittman and Justin Caudill
represented Piedmont in the purchase. "We are pleased to have been successful
in the purchase of such a high quality office complex," commented Stone.
"These are well-located buildings within the dynamic Burlington market that
benefit from desirable amenities including a fitness center, upscale retail
and restaurants next door, and Rt-128 access," he added.
"This acquisition demonstrates Piedmont's goal of continuing to increase our
presence in and deploy capital into our identified national concentration
markets, while also adhering to our limited multi-tenant operating strategy,"
added Raymond L. Owens, Executive Vice-President, Capital Markets for
About Piedmont: Piedmont Office Realty Trust, Inc. (NYSE: PDM) is a
fully-integrated and self-managed real estate investment trust (REIT)
specializing in high-quality, Class A office properties located primarily in
the ten largest U.S. office markets, including Chicago, Washington, D.C., New
York, Los Angeles, Boston, and Dallas. As of December 31, 2012, Piedmont's 74
wholly-owned office buildings were comprised of over 20 million rentable
square feet. The Company is headquartered in Atlanta, GA, with local
management offices in each of its major markets. Piedmont is investment-grade
rated by Standard & Poor's and Moody's and has maintained a low-leverage
strategy while acquiring and disposing of properties during its fourteen year
operating history. An investment summary of this transaction can be found on
the company's investor relations web site at www.piedmontreit.com.
Contact: Kerry Hughes
Company: Piedmont Office Realty Trust
Phone: + 1 770 418 8678
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Source: Piedmont Office Realty Trust, Inc. via Thomson Reuters ONE
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