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Fair Value Measurement of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [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 well as its level within the GAAP fair value hierarchy, as of June 30, 2015 and December 31, 2014, respectively (in thousands):

 
June 30, 2015
 
December 31, 2014
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)
$
8,997

 
$
8,997

 
Level 1
 
$
12,306

 
$
12,306

 
Level 1
Tenant receivables, net(1)
$
25,474

 
$
25,474

 
Level 1
 
$
27,711

 
$
27,711

 
Level 1
Notes receivable (1)
$
45,400

 
$
45,400

 
Level 1
 
$
—

 
$
—

 
Level 1
Restricted cash and escrows(1)
$
521

 
$
521

 
Level 1
 
$
5,679

 
$
5,679

 
Level 1
Interest rate swap asset
$
8,290

 
$
8,290

 
Level 2
 
$
430

 
$
430

 
Level 2
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses(1)
$
18,814

 
$
18,814

 
Level 1
 
$
14,395

 
$
14,395

 
Level 1
Interest rate swap liability
$
8,411

 
$
8,411

 
Level 2
 
$
6,417

 
$
6,417

 
Level 2
Debt
$
2,320,295

 
$
2,332,695

 
Level 2
 
$
2,277,589

 
$
2,314,020

 
Level 2

(1) 
For the periods presented, the carrying value of these financial instruments approximates estimated fair value due to their short-term maturity.