Piedmont Office
Realty Trust, Inc. completed a 10 year lease extension for 234,668 s/f at Piedmont's 1200 Crown Colony Dr. in Quincy. The tenant was represented by Andy Majewski of CB
Richard Ellis. The owner was self-represented by Damian Miller, vice president and George Wells, senior vice president of Piedmont Office Realty Trust.
Additionally, Advanced Micro Devices expanded its premises by 22,094 s/f for a five year term and extended the primary lease
of 110,763 s/f for two additional years at Piedmont-owned 90
Central St. in Boxborough, Mass.
The transaction brings this class-A
building to 91% occupancy.
"We are excited to complete these lease transactions with such
prestigious tenants in our portfolio. The ability to extend our
relationship with two quality end-users furthers our desire to make
Boston a strategic growth market for the company," said Wells.
Aligning with its focus on the Boston metropolitan region, Piedmont
also announced its plans to open a regional management office in
Cambridge and the recent hiring of Senior Property Manager, Paul
Newman, to head up this initiative. "We are pleased to welcome Paul to
our team," commented C.A. "Bo" Reddic, Executive Vice President of Real
Estate Operations. "He brings 20 years of experience in property and
asset management in the Boston real estate market, providing us
confidence that we can accomplish our goal of growing our portfolio
platform in this region."
About Piedmont: Piedmont Office Realty Trust is a public REIT
specializing in Class-A office properties. As of March 31, 2010,
Piedmont owned 73 office buildings, as well as two industrial and eight
investments in unconsolidated joint ventures. The 73 wholly-owned
office properties are located in 19 states and the District of Columbia
and comprise approximately 20 million square feet. On March 31, 2010,
Piedmont's office properties were 89.6 percent leased. For more
information, see www.piedmontreit.com.