Piedmont Secures Two Major Atlanta Renewals
Two significant lease renewals have helped prop up Piedmont Office Realty Trust's leasing efforts in Atlanta.
That renewal makes up a big block of the 517K SF in leasing that Piedmont executed this past quarter, including two separate deals with WeWork: 71K SF at SunTrust Center in Orlando and 29K SF at Arlington Gateway outside of Washington.
“We continue to witness strong demand from tenants in our office buildings located within dense mixed-use nodes that have excellent transportation accessibility and unique amenity offerings,” Piedmont CEO Brent Smith said in a release.
The REIT also closed the purchase of Galleria 100, an 18-story office tower in the Cumberland/Galleria submarket, for $95.1M. That deal gives Piedmont a trio of office towers in that complex, which include Galleria 200 and 300.
Piedmont also renewed Bio-Medical Applications of Georgia for 48K SF at Galleria 100.