Piedmont Office Realty reports Q3 leasing activity
Piedmont Office Realty announced that it completed over 613,000 square feet of leasing at its properties during Q3, the majority of which related to new leasing for currently vacant space in its portfolio. Activity for the quarter included a previously announced, approximately 17-year, full-building lease for the company's newly constructed, 300,000 square foot, Enclave Place building in Houston, TX, as well as over 87,000 square feet of leasing of vacant space in the Washington, D.C. market. In Washington, D.C., Reservoir International executed a 29,000 square foot new lease through 2023 and Rapid7. completed an approximately 17,000 square foot new lease through 2024, both at Arlington Gateway; Global Connections to Employment completed a 15,000 square foot new lease through 2028. Applied Predictive Technologies completed a 12,000 square foot expansion through 2028. In Atlanta, Morgan Stanley Smith Barney Financing renewed their approximately 18,000 square foot lease through 2024 and R-T Specialty executed a renewal and expansion totaling over 17,000 square feet through 2026. In Dallas, Switch Commerce renewed their approximately 15,000 square foot lease. In Boston, TZ Insurance Solutions executed a new lease for 15,000 square feet through 2029. In Minneapolis, Health Catalyst completed an almost 13,000 square foot new lease through 2024. In Los Angeles, Children's Hospital Los Angeles expanded their lease by approximately 26,000 square feet through 2026. Additionally during Q3, Piedmont entered into a binding contract to sell 800 North Brand Boulevard to a third party for approximately $160M. The sale will complete Piedmont's exit from the West Coast.