Property Dispositions, Assets Held for Sale, and Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

Details comprising loss from discontinued operations activity on 1441 West Long Lake Road, 11109 Sunset Hills Road, and 1200 Enclave Parkway for the three and six months ended ended June 30, 2016 and 2015 are presented below (in thousands):

	Three Months Ended						Six Months Ended
	June 30, 2016			June 30, 2015			June 30, 2016			June 30, 2015
Revenues:
Tenant reimbursements	$	—		$	(3	)	$	—		$	(3	)
	—			(3		)	—			(3		)
Expenses:
Property operating costs	—			(1		)	—			(1		)
General and administrative	1			1			1			1
	1			—			1			—
Operating loss	(1		)	(3		)	(1		)	(3		)
Loss from discontinued operations	$	(1	)	$	(3	)	$	(1	)	$	(3	)

Properties sold during the six months endedJune 30, 2016 and 2015 did not meet the criteria to be reported as discontinued operations. The operational results for these properties prior to their sale dates are presented as continuing operations in the accompanying consolidated statements of income, and the gain on sale is presented separately on the face of the income statement. Details of such properties sold are presented below (in thousands):

Buildings Sold	Location	Date of Sale	Gain on Sale		Net Sales Proceeds
3900 Dallas Parkway	Plano, Texas	January 30, 2015	$	10,073	$	25,803
5601 Headquarters Drive	Plano, Texas	April 28, 2015	$	7,959	$	33,326
River Corporate Center	Tempe, Arizona	April 29, 2015	$	5,297	$	24,223
Copper Ridge Center	Lyndhurst, New Jersey	May 1, 2015	$	13,711	$	50,372	(1)
1055 East Colorado	Pasadena, California	April 21, 2016	$	31,502	$	60,077
Fairway Center II	Brea, California	April 28, 2016	$	15,469	$	33,063
1901 Main Street	Irvine, California	May 2, 2016	$	32,016	$	63,150	(2)

⁽¹⁾  As part of the transaction, Piedmont accepted a secured promissory note from the buyer for $45.4 million. During the six months endedJune 30, 2016, the note receivable was repaid in full and such proceeds are reflected in the accompanying consolidated statements of cash flows as net sales proceeds from the sale of wholly-owned properties.

⁽²⁾  As part of the transaction, Piedmont accepted a secured promissory note from the buyer for $33.0 million; however, the note receivable was repaid in full by June 30, 2016. As such, the full proceeds from the sale of the property are reflected in the accompanying consolidated statements of cash flows as net sales proceeds from the sale of wholly-owned properties.

Disclosure of Long Lived Assets Held-for-sale

During the three months ended June 30, 2016, Piedmont reclassified the 150 West Jefferson building from real estate assets held for use to real estate assets held for sale as a result of entering into a binding agreement to sell the property. As such, assets held for sale as of June 30, 2016 and December 31, 2015 include the 150 West Jefferson building, and are presented below (in thousands):

	June 30, 2016		December 31, 2015
Real estate assets held for sale, net:
Land	$	9,759	$	9,759
Building and improvements, less accumulated depreciation of $33,336 and $32,162 as of June 30, 2016 and December 31, 2015, respectively	59,998		66,840
Construction in progress	9		15
Total real estate assets held for sale, net	$	69,766	$	76,614
Other assets held for sale, net:
Straight-line rent receivables	$	5,109	$	4,729
Prepaid expenses and other assets	36		66
Deferred lease costs, less accumulated amortization of $1,429 and $1,162 as of June 30, 2016 and December 31, 2015, respectively	3,616		3,695
Total other assets held for sale, net	$	8,761	$	8,490