Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Measurement of Financial Instruments [Abstract]

Fair Value, by Balance Sheet Grouping

The following table sets forth the carrying and estimated fair value for each of Piedmont’s financial instruments as of December 31, 2013 and 2012, respectively (in thousands):

	2013					2012
Financial Instrument	Carrying Value		Estimated Fair Value		Level Within Fair Value Hierarchy	Carrying Value		Estimated Fair Value		Level Within Fair Value Hierarchy
Assets:
Cash and cash equivalents(1)	$	6,973	$	6,973	Level 1	$	12,957	$	12,957	Level 1
Tenant receivables, net(1)	$	31,145	$	31,145	Level 1	$	25,038	$	25,038	Level 1
Restricted cash and escrows(1)	$	394	$	394	Level 1	$	334	$	334	Level 1
Interest rate swap asset	$	24,176	$	24,176	Level 2	$	1,075	$	1,075	Level 2
Liabilities:
Accounts payable and accrued expenses(1)	$	16,680	$	16,680	Level 1	$	23,113	$	23,113	Level 1
Interest rate swap liability	$	4,526	$	4,526	Level 2	$	8,235	$	8,235	Level 2
Debt	$	2,002,205	$	2,004,870	Level 2	$	1,416,525	$	1,470,002	Level 2

⁽¹⁾  For the periods presented, the carrying value approximates estimated fair value due to its short-term maturity.