2013-08-13 23:15:03 -
ATLANTA - August 13, 2013 - Piedmont Office Realty Trust, Inc. (NYSE: PDM)
announced today that it has achieved a successful leasing outcome for two
corporate tenants in the Las Colinas submarket of Dallas, Texas. Epsilon, a
leading marketing services firm, signed a new 12-year full building lease for
approximately 222,000 square feet at Piedmont's 6021 Connection Drive property
in Irving, TX. The lease is in addition to a recently signed 5-year, 28,000
square foot lease at Piedmont's adjacent property - 6031 Connection Drive. The
two leases total nearly 250,000 square feet and reflect a headquarters
relocation for Epsilon, commencing July, 2014. Epsilon noted that its Irving
associate base has grown over 20% in the last 18 months and the firm expects to
continue that momentum, with a focus on
adding more technical experts as well as
creative and strategy talent.
Additionally, Piedmont announced that it acquired a land parcel adjacent to its
Connection Drive properties from Nokia. The land fronts Royal Lane and State
Hwy 161 and is zoned for future office development. In connection with this
sale, Nokia will relocate its Las Colinas offices to another Piedmont office
property in Irving.
Epsilon was represented by John Boyle III, Greg Biggs, and Lauren Napper of
Cassidy Turley. The owner was represented by Joel Pustmueller, Sarah Hinkley,
and Grant Sumner of Peloton Commercial Real Estate. Nokia was represented by
William Callahan of CB Richard Ellis.
According to Bryan Kennedy, CEO of Epsilon, "We have experienced tremendous
growth since establishing our headquarters in Irving, Texas and we anticipate
that we'll continue to bring on a mix of experienced hires and recent graduates,
especially as we expand our campus recruiting efforts with local area colleges
and universities like SMU, UT Austin and Texas A&M. To deliver unparalleled
results for our vast global client base, we need not only best-of-breed
technology and data, but also the brightest minds in the industry. As we
transition to our new space in Irving, we will have the opportunity to continue
to grow and build our talented team."
"We are pleased to welcome Epsilon to our portfolio of tenants and are confident
that it will find our building very suitable as a headquarters location," said
Damian Miller, Vice President for Piedmont. "Likewise, we have been appreciative
of the long-term relationship we have enjoyed with Nokia and look forward to its
continued tenancy with us in Dallas," added Miller.
"The timing and orchestration of these transactions were truly wins for all
parties involved," said C.A. "Bo" Reddic, IV, Executive Vice-President of Real
Estate Operations for Piedmont. "We pride ourselves as an owner in trying to
provide long-term commercial real estate solutions for our customers, while also
increasing shareholder value for our investors. We were pleased to have been
successful in demonstrating both of these objectives with the transactions in
Dallas," concluded Reddic.
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, Boston, Los Angeles and Dallas.
As of June 30, 2013, Piedmont's 74 wholly-owned office buildings were comprised
of nearly 21 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 fifteen year operating history. For more information, see
Epsilon is the global leader in creating customer connections that build brand
and business equity. A new breed of agency for a consumer-empowered world, our
unique approach harnesses the power of rich data, world-leading technologies,
engaging creativity and transformative ideas to ignite connections between
brands and customers, delivering dramatic results. Recognized by Ad Age as the
#1 U.S. Agency from All Disciplines, #1 World CRM/Direct Marketing Network and
#2 U.S. Digital Agency Network, we employ over 5000 associates in 60 offices
worldwide. Epsilon is an Alliance Data company. For more information, visit
www.epsilon.com, follow us on Twitter @EpsilonMktg or call 1.800.309.0505.
Contact: Kerry Hughes
Company: Piedmont Office Realty Trust
Phone: 1 770 418 8678
Contact: Jessica Nable
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Source: Piedmont Office Realty Trust, Inc. via Thomson Reuters ONE