Subsequent Events

12 Months Ended

Dec. 31, 2014

Subsequent Events [Abstract]

Subsequent Events

Subsequent events

Declaration of Dividend for the First Quarter 2015

On February 5, 2015, the board of directors of Piedmont declared dividends for the first quarter 2015 in the amount of $0.21 per share on its common stock to stockholders of record as of the close of business on February 27, 2015. Such dividends are to be paid on March 20, 2015.

Purchase of Asset in Dallas, Texas Market

On January 16, 2015, Piedmont acquired Park Place on Turtle Creek, an approximately 177,000 square foot, 14-story Class A office building located in Dallas, TX for $46.6 million. The building is situated on 1.24 acres of land in the prestigious sub-market of Uptown/Turtle Creek and complements another of Piedmont's recent acquisitions, One Lincoln Park, and is in close proximity to a host of sought-after amenities including many upscale shops and restaurants as well as the Katy Trail. The building is currently 88% leased to a diverse group of tenants.

Disposal of Asset in Dallas, Texas Market

On January 30, 2015, Piedmont disposed of the 3900 Dallas Parkway building in Plano, TX, a 120,000 square foot, 5-story building that was leased to Cinemark for a sales price of $26.2 million.