Schedule III - Real Estate and Accumulated Depreciation

December 31, 2016

(dollars in thousands)



					Initial Cost					Gross Amount at Which Carried at December 31, 2016
Description	Location	Ownership Percentage		Encumbrances	Land	Buildings and Improvements	Total (a)	Costs Capitalized Subsequent to Acquisition (b)		Land	Buildings and Improvements	Total (c)	Accumulated Depreciation and Amortization	Date of Construction	Date Acquired	Life on which Depreciation and Amortization is Computed (in years) (d)
1430 ENCLAVE PARKWAY	Houston, TX	100	%	None	7,100	37,915	45,015	2,050		5,506	41,559	47,065	18,517	1994	12/21/2000	0	-	40
CRESCENT RIDGE II	Minnetonka, MN	100	%	None	7,700	45,154	52,854	7,651		8,021	52,484	60,505	22,236	2000	12/21/2000	0	-	40
1200 CROWN COLONY DRIVE	Quincy, MA	100	%	None	11,042	40,666	51,708	3,506		11,042	44,172	55,214	18,445	1990	7/30/2001	0	-	40
5601 HIATUS ROAD	Tamarac, FL	100	%	None	3,642	10,404	14,046	1,721		3,642	12,125	15,767	5,691	2001	12/21/2001	0	-	40
WINDY POINT I	Schaumburg, IL	100	%	None	4,537	31,847	36,384	2,071		4,537	33,918	38,455	13,116	1999	12/31/2001	0	-	40
WINDY POINT II	Schaumburg, IL	100	%	None	3,746	55,026	58,772	16,696		3,746	71,722	75,468	26,654	2001	12/31/2001	0	-	40
SARASOTA COMMERCE CENTER II	Sarasota, FL	100	%	None	1,767	20,533	22,300	2,730		2,203	22,827	25,030	9,652	1999	1/11/2002	0	-	40
2001 NW 64th STREET	Ft. Lauderdale, FL	100	%	(e)	—	7,172	7,172	966		—	8,138	8,138	3,428	2001	4/18/2002	0	-	40
90 CENTRAL STREET	Boxborough, MA	100	%	None	3,642	29,497	33,139	3,070		3,642	32,567	36,209	13,092	2001	5/3/2002	0	-	40
DESERT CANYON 300	Phoenix, AZ	100	%	None	2,602	24,333	26,935	45		2,602	24,378	26,980	9,289	2001	6/4/2002	0	-	40
6031 CONNECTION DRIVE	Irving, TX	100	%	None	3,157	43,656	46,813	4,305		3,157	47,961	51,118	18,841	1999	8/15/2002	0	-	40
6021 CONNECTION DRIVE	Irving, TX	100	%	None	3,157	42,662	45,819	10,541		3,157	53,203	56,360	18,207	2000	8/15/2002	0	-	40
6011 CONNECTION DRIVE	Irving, TX	100	%	None	3,157	29,034	32,191	2,597		3,157	31,631	34,788	13,167	1999	8/15/2002	0	-	40
TWO INDEPENDENCE SQUARE	Washington, DC	100	%	None	52,711	202,702	255,413	58,844		52,711	261,546	314,257	88,319	1991	11/22/2002	0	-	40
ONE INDEPENDENCE SQUARE	Washington, DC	100	%	None	29,765	104,814	134,579	24,250		30,562	128,267	158,829	40,467	1991	11/22/2002	0	-	40
2120 WEST END AVENUE	Nashville, TN	100	%	None	4,908	59,011	63,919	6,671		5,101	65,489	70,590	25,014	2000	11/26/2002	0	-	40
800 NORTH BRAND BOULEVARD	Glendale, CA	100	%	None	23,605	136,284	159,889	12,937		23,607	149,219	172,826	52,172	1990	12/20/2002	0	-	40
US BANCORP CENTER	Minneapolis, MN	100	%	None	11,138	175,629	186,767	17,422		11,138	193,051	204,189	65,628	2000	5/1/2003	0	-	40
AUBURN HILLS CORPORATE CENTER	Auburn Hills, MI	100	%	None	1,978	16,570	18,548	(8,081	)	1,591	8,876	10,467	4,292	2001	5/9/2003	0	-	40
GLENRIDGE HIGHLANDS TWO	Atlanta, GA	100	%	None	6,662	69,031	75,693	(17,857	)	6,662	51,174	57,836	19,919	2000	8/1/2003	0	-	40



					Initial Cost					Gross Amount at Which Carried at December 31, 2016
Description	Location	Ownership Percentage		Encumbrances	Land	Buildings and Improvements	Total (a)	Costs Capitalized Subsequent to Acquisition (b)		Land	Buildings and Improvements	Total (c)	Accumulated Depreciation and Amortization	Date of Construction	Date Acquired	Life on which Depreciation and Amortization is Computed (in years) (d)
200 BRIDGEWATER CROSSING	Bridgewater, NJ	100	%	None	8,182	84,160	92,342	(11,740	)	8,328	72,274	80,602	25,815	2002	8/14/2003	0	-	40
400 VIRGINIA AVE	Washington, DC	100	%	None	22,146	49,740	71,886	(792	)	22,146	48,948	71,094	17,279	1985	11/19/2003	0	-	40
4250 NORTH FAIRFAX DRIVE	Arlington, VA	100	%	None	13,636	70,918	84,554	4,240		13,636	75,158	88,794	24,989	1998	11/19/2003	0	-	40
1225 EYE STREET (f)	Washington, DC	49.5	%	57,600	21,959	47,602	69,561	7,565		21,959	55,167	77,126	17,014	1986	11/19/2003	0	-	40
1201 EYE STREET (g)	Washington, DC	49.5	%	82,400	31,985	63,139	95,124	(55	)	31,984	63,085	95,069	20,043	2001	11/19/2003	0	-	40
1901 MARKET STREET	Philadelphia, PA	100	%	160,000	13,584	166,683	180,267	53,684		20,829	213,122	233,951	71,421	1987	12/18/2003	0	-	40
60 BROAD STREET	New York, NY	100	%	None	32,522	168,986	201,508	12,390		60,708	153,190	213,898	51,381	1962	12/31/2003	0	-	40
1414 MASSACHUSETTS AVENUE	Cambridge, MA	100	%	None	4,210	35,821	40,031	(284	)	4,365	35,382	39,747	16,045	1873	1/8/2004	0	-	40
ONE BRATTLE SQUARE	Cambridge, MA	100	%	None	6,974	64,940	71,914	(2,976	)	7,113	61,825	68,938	34,237	1991	2/26/2004	0	-	40
600 CORPORATE DRIVE	Lebanon, NJ	100	%	None	3,934	—	3,934	16,281		3,934	16,281	20,215	6,969	2005	3/16/2004	0	-	40
1075 WEST ENTRANCE DRIVE	Auburn Hills, MI	100	%	None	5,200	22,957	28,157	(313	)	5,207	22,637	27,844	8,128	2001	7/7/2004	0	-	40
3100 CLARENDON BOULEVARD	Arlington, VA	100	%	None	11,700	69,705	81,405	38,680		11,791	108,294	120,085	21,673	1987	12/9/2004	0	-	40
400 BRIDGEWATER CROSSING	Bridgewater, NJ	100	%	None	10,400	71,052	81,452	(15,626	)	10,400	55,426	65,826	16,329	2002	2/17/2006	0	-	40
LAS COLINAS CORPORATE CENTER I	Irving, TX	100	%	None	3,912	18,830	22,742	(3,667	)	2,543	16,532	19,075	5,065	1998	8/31/2006	0	-	40
LAS COLINAS CORPORATE CENTER II	Irving, TX	100	%	None	4,496	29,881	34,377	(3,624	)	2,543	28,210	30,753	8,536	1998	8/31/2006	0	-	40
TWO PIERCE PLACE	Itasca, IL	100	%	None	4,370	70,632	75,002	10,640		8,156	77,486	85,642	28,680	1991	12/7/2006	0	-	40
2300 CABOT DRIVE	Lisle, IL	100	%	None	4,390	19,549	23,939	(4,073	)	4,390	15,476	19,866	4,054	1998	5/10/2007	0	-	40
PIEDMONT POINTE I	Bethesda, MD	100	%	None	11,200	58,606	69,806	7,371		11,200	65,977	77,177	17,043	2007	11/13/2007	0	-	40
PIEDMONT POINTE II	Bethesda, MD	100	%	None	13,300	70,618	83,918	8,115		13,300	78,733	92,033	18,682	2008	6/25/2008	0	-	40



					Initial Cost					Gross Amount at Which Carried at December 31, 2016
Description	Location	Ownership Percentage		Encumbrances	Land	Buildings and Improvements	Total (a)	Costs Capitalized Subsequent to Acquisition (b)		Land	Buildings and Improvements	Total (c)	Accumulated Depreciation and Amortization	Date of Construction	Date Acquired	Life on which Depreciation and Amortization is Computed (in years) (d)
SUWANEE GATEWAY ONE	Suwanee, GA	100	%	None	1,000	6,875	7,875	3,159		2,401	8,633	11,034	1,533	2008	9/28/2010	0	-	40
ONE MERIDIAN CROSSINGS	Richfield, MN	100	%	None	2,919	24,398	27,317	318		2,919	24,716	27,635	4,340	1997	10/1/2010	0	-	40
TWO MERIDIAN CROSSINGS	Richfield, MN	100	%	None	2,661	25,742	28,403	590		2,661	26,332	28,993	4,592	1998	10/1/2010	0	-	40
500 WEST MONROE STREET	Chicago, IL	100	%	None	36,990	185,113	222,103	42,561		36,990	227,674	264,664	35,293	1991	3/31/2011	0	-	40
THE DUPREE	Atlanta, GA	100	%	None	4,080	14,310	18,390	877		4,080	15,187	19,267	3,814	1997	4/29/2011	0	-	40
THE MEDICI	Atlanta, GA	100	%	None	1,780	11,510	13,290	4,988		1,780	16,498	18,278	2,873	2008	6/7/2011	0	-	40
225 PRESIDENTIAL WAY	Boston, MA	100	%	None	3,626	36,916	40,542	(764	)	3,612	36,166	39,778	8,150	2000	9/13/2011	0	-	40
235 PRESIDENTIAL WAY	Boston, MA	100	%	None	4,154	44,048	48,202	(911	)	4,138	43,153	47,291	9,686	2001	9/13/2011	0	-	40
400 TOWNPARK	Lake Mary, FL	100	%	None	2,570	20,555	23,125	3,555		2,570	24,110	26,680	4,107	2008	11/10/2011	0	-	40
ARLINGTON GATEWAY	Arlington, VA	100	%	None	36,930	129,070	166,000	1,384		36,930	130,454	167,384	19,186	2005	3/4/2013	0		40
5 & 15 WAYSIDE ROAD	Burlington, MA	100	%	None	7,190	55,445	62,635	1,536		7,190	56,981	64,171	7,917	1999 / 2001	3/22/2013	0		40
5301 MARYLAND WAY	Brentwood, TN	100	%	None	5,740	9,717	15,457	(1,768	)	5,740	7,949	13,689	581	1989	8/12/2013	0		40
6565 MACARTHUR BOULEVARD	Irving, TX	100	%	None	4,820	37,767	42,587	512		4,820	38,279	43,099	5,115	1998	12/5/2013	0		40
ONE LINCOLN PARK	Dallas, TX	100	%	None	6,640	44,810	51,450	1,383		6,640	46,193	52,833	5,121	1999	12/20/2013	0		40
161 CORPORATE CENTER	Irving, TX	100	%	None	2,020	10,680	12,700	130		2,020	10,810	12,830	1,814	1998	12/30/2013	0		40
5 WALL STREET	Burlington, MA	100	%	31,583	9,560	50,276	59,836	—		9,560	50,276	59,836	6,271	2008	6/27/2014	0		40
1155 PERIMETER CENTER WEST	Atlanta, GA	100	%	None	5,870	66,849	72,719	5		5,870	66,854	72,724	7,039	2000	8/28/2014	0		40
PARK PLACE ON TURTLE CREEK	Dallas, TX	100	%	None	4,470	38,048	42,518	1,778		4,470	39,826	44,296	3,603	1986	1/16/2015	0		40
80 CENTRAL STREET	Boxborough, MA	100	%	None	1,980	8,930	10,910	40		1,980	8,970	10,950	998	1988	7/24/2015	0		40
ENCLAVE PLACE	Houston, TX	100	%	None	1,890	60,094	61,984	3,716		1,890	63,810	65,700	1,994	2015	N/A	0		40
SUNTRUST CENTER	Orlando, FL	100	%	None	11,660	139,015	150,675	(192	)	11,660	138,823	150,483	6,981	1988	11/4/2015	0		40
GALLERIA 300	Atlanta, GA	100	%	None	4,000	73,554	77,554	1,003		4,000	74,557	78,557	4,329	1987	11/4/2015	0		40
GLENRIDGE HIGHLANDS ONE	Atlanta, GA	100	%	None	5,960	50,013	55,973	886		5,960	50,899	56,859	3,078	1998	11/24/2015	0		40



					Initial Cost									Gross Amount at Which Carried at December 31, 2016
Description	Location	Ownership Percentage		Encumbrances	Land		Buildings and Improvements		Total (a)		Costs Capitalized Subsequent to Acquisition (b)			Land		Buildings and Improvements		Total (c)		Accumulated Depreciation and Amortization		Date of Construction	Date Acquired	Life on which Depreciation and Amortization is Computed (in years) (d)
CNL CENTER I	Orlando, FL	99	%	None	6,470		77,858		84,328		(263		)	6,470		77,595		84,065		1,505		1999	8/1/2016	0		40
CNL CENTER II	Orland, FL	99	%	None	4,550		55,609		60,159		754			4,550		56,363		60,913		1,106		2006	8/1/2016	0		40
ONE WAYSIDE ROAD	Boston, MA	100	%	None	6,240		57,124		63,364		—			6,240		57,124		63,364		1,643		1997 / 2008	8/10/2016	0		40
GALLERIA 200	Atlanta, GA	100	%	None	6,470		55,825		62,295		(24		)	6,470		55,801		62,271		768		1984	10/7/2016	0		40
750 WEST JOHN CARPENTER FREEWAY (h)	Irving, TX	100	%	None	7,860		36,303		44,163		—			7,860		36,303		44,163		219		1999	11/30/2016	0		40
PIEDMONT POWER, LLC (i)	Bridgewater, NJ	100	%	None	—		79		79		2,740			—		2,819		2,819		534		N/A	12/20/2011	0	-	40
UNDEVELOPED LAND PARCELS (j)	Various	100	%	None	18,061		—		18,061		24,904			18,061		24,904		42,965		6		N/A	Various			N/A
Total—Consolidated REIT Properties					$	632,277	$	3,792,292	$	4,424,569	$	360,848		$	669,848	$	4,115,569	$	4,785,417	$	1,053,725



					Initial Cost								Gross Amount at Which Carried at December 31, 2016
Description	Location	Ownership Percentage		Encumbrances	Land		Buildings and Improvements		Total (a)		Costs Capitalized Subsequent to Acquisition (b)		Land		Buildings and Improvements		Total (c)		Accumulated Depreciation and Amortization		Date of Construction	Date Acquired	Life on which Depreciation and Amortization is Computed (in years) (d)
8560 UPLAND DRIVE	Englewood, CO	72	%	None	1,954		11,216		13,170		1,438		2,048		12,560		14,608		4,979		2001	12/21/2001	0	-	40
Total – Unconsolidated JV Properties					$	1,954	$	11,216	$	13,170	$	1,438	$	2,048	$	12,560	$	14,608	$	4,979
Total – All Properties					$	634,231	$	3,803,508	$	4,437,739	$	362,286	$	671,896	$	4,128,129	$	4,800,025	$	1,058,704


^(a)	Total initial cost excludes purchase price allocated to intangible lease origination costs and intangible lease liabilities.


^(b)	Includes write-offs of fully depreciated/amortized capitalized assets.


^(c)	The net carrying value of Piedmont’s total assets for federal income tax purposes is approximately $4.3 billion.


^(d)	Piedmont’s assets are depreciated or amortized using the straight-lined method over the useful lives of the assets by class. Generally, Tenant Improvements and Lease Intangibles are amortized over the lease term. Generally, Building Improvements are depreciated over 5 - 25 years, Land Improvements are depreciated over 20 - 25 years, and Buildings are depreciated over 40 years.


^(e)	Property is owned subject to a long-term ground lease.


^(f)	As a result of its 49.5% membership interest in 1225 Eye Street, N.W. Associates, LLC, Piedmont owns 49.5% of the 1225 Eye Street building. Piedmont is deemed to have control over the joint venture and, as such, consolidates the joint venture, including the building.


^(g)	As a result of its 49.5% membership interest in 1201 Eye Street, N.W. Associates, LLC, Piedmont owns 49.5% of the 1201 Eye Street building. Piedmont is deemed to have control over the joint venture and, as such, consolidates the joint venture, including the building.


^(h)	As part of the acquisition of the property, Piedmont purchased an adjoining, developable land parcel of 3.5 acres for $1.0 million.


⁽ⁱ⁾	Represents solar panels at the 400 Bridgewater Crossing building.


^(j)	Undeveloped Land Parcels includes land parcels which Piedmont may develop in the future, as well as the initial development costs of the 500 TownPark building.

Piedmont Office Realty Trust, Inc.

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2016

(dollars in thousands)



	2016			2015			2014
Real Estate:
Balance at the beginning of the year	$	4,725,096		$	5,267,615		$	5,038,005
Additions to/improvements of real estate	422,908			452,106			316,991
Assets disposed	(296,319		)	(926,592		)	(71,627		)
Assets impaired ⁽¹⁾	(30,898		)	(40,169		)	—
Write-offs of intangible assets ⁽²⁾	(11,896		)	(7,768		)	(9,723		)
Write-offs of fully depreciated/amortized assets	(8,866		)	(20,096		)	(6,031		)
Balance at the end of the year	$	4,800,025		$	4,725,096		$	5,267,615
Accumulated Depreciation and Amortization:
Balance at the beginning of the year	$	1,019,663		$	1,182,556		$	1,060,885
Depreciation and amortization expense	155,274			155,009			156,808
Assets disposed	(95,471		)	(290,038		)	(19,383		)
Write-offs of intangible assets ⁽²⁾	(11,896		)	(7,768		)	(9,723		)
Write-offs of fully depreciated/amortized assets	(8,866		)	(20,096		)	(6,031		)
Balance at the end of the year	$	1,058,704		$	1,019,663		$	1,182,556


⁽¹⁾	Does not include impairment loss recognized on other assets as a result of the allocation of goodwill (See Note 2).


⁽²⁾	Consists of write-offs of intangible lease assets related to lease restructurings, amendments and terminations.