2012-10-02 23:30:29 -
ATLANTA and CHICAGO, October 2, 2012 - Piedmont Office Realty Trust, Inc.
(NYSE:PDM) today announced the completion of a new 15-year lease with Aon plc
(NYSE:AON) totaling 396,406 square feet at its 200 East Randolph Street
property in Chicago, Illinois. After 14 years as a sublease tenant in the 83-
story East Loop tower, the global risk management and HR solutions firm will
enter into a new direct lease agreement, commencing December, 2013.
"We are excited that Aon has decided to retain our 200 East Randolph property as
the headquarters for its Americas business," said Piedmont President and CEO,
Donald A. Miller, CFA. The iconic presence and long term branding of such a
reputable tenant makes Aon Center one of the most prominent buildings in the
downtown Chicago skyline and, proudly
one of the true flagships in our national
portfolio," Miller concluded.
The tenant was represented by Meredith O'Connor of Jones Lang LaSalle and
Studley's Greg Gerber. The owner was represented by Steve Smith and Mike Curran
of Jones Lang LaSalle. Piedmont's team was led by Damian Miller and Joe
"After enjoying Aon's presence in our building for many years, we are extremely
pleased to transition them from a subtenant to a direct tenant status within our
portfolio," said Damian Miller, Vice President for Piedmont Office Realty
Trust. "This deal could not have been accomplished without the diligence of
many people. We appreciate the efforts of all involved and look forward to
continuing our relationship with Aon in the years ahead," he added.
Opened in 1972, Aon Center offers spectacular views of the city, Lake Michigan
and Millennium Park. The building offers one of the best amenity packages in
the city, including the Mid America Club, and a 205-seat auditorium with an
audio-visual system. The building has direct internal access to the four-star
Fairmont Hotel and the seven-story Lakeshore Athletic Club from its lower
lobby. Most notably, Aon Center has earned both the prestigious Energy Star
Label and Building Owners and Manager Association's (BOMA) 360 designation.
Additionally, it was a 2010 winner of BOMA's top international honor, The Office
Building of the Year (TOBY) award.
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, Dallas, Los
Angeles and Boston. As of June 30, 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. Investment-grade rated by Standard & Poor's and Moody's, Piedmont has
maintained a low-leverage strategy while transacting $5.9 billion and $1.7
billion in property acquisitions and dispositions, respectively, during its
fourteen year operating history. For more information, see
Contact: Kerry Hughes
Phone: 1 770 418 8678
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Source: Piedmont Office Realty Trust, Inc. via Thomson Reuters ONE