Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies Disclosure [Abstract]

Schedule of Letters of Credit

As of December 31, 2011, Piedmont was subject to the following letters of credit, which reduce the total outstanding capacity under its $500 Million Unsecured Facility:

Amount	Expiration of Letter of Credit (1)
$14,782,820	February 2012
$9,033,164	June 2012
$382,556	August 2012
$1,231,573	December 2012

⁽¹⁾  These letter of credit agreements contain an “evergreen” clause, which automatically renews for consecutive, one-year periods each anniversary, subject to certain limitations.

Schedule of Future Minimum Rental Payments for Operating Leases

The aggregate remaining payments required under the terms of these operating leases as of December 31, 2011 are presented below (in thousands):

2012	$	750
2013	750
2014	750
2015	749
2016	749
Thereafter	74,870
Total	$	78,618