Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Third Quarter Dividend Declaration

On August 2, 2016, the board of directors of Piedmont declared dividends for the third quarter 2016 in the amount of $0.21 per common share outstanding to stockholders of record as of the close of business on August 26, 2016. Such dividends are to be paid on September 16, 2016.

Acquisitions

On August 1, 2016, Piedmont acquired a 99% interest in the entity that owns CNL Tower I and II, two trophy office buildings located in Orlando, Florida's central business district, for $166.7 million.

Dispositions

On July 27, 2016, Piedmont sold the 9221 Corporate Boulevard building, an approximately 115,000 square foot, vacant office building, for $12.7 million ($110 per square foot).

On July 29, 2016, Piedmont sold 150 West Jefferson, an approximately 490,000 square foot office building and 88.2% leased, for $81.5 million ($166 per square foot).