Fair Value Measurements of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

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 December 31, 2018 and 2017, respectively (in thousands):

	December 31, 2018					December 31, 2017
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)	$	4,571	$	4,571	Level 1	$	7,382	$	7,382	Level 1
Tenant receivables, net (1)	$	10,800	$	10,800	Level 1	$	12,139	$	12,139	Level 1
Restricted cash and escrows (1)	$	1,463	$	1,463	Level 1	$	1,373	$	1,373	Level 1
Interest rate swaps	$	1,199	$	1,199	Level 2	$	688	$	688	Level 2
Liabilities:
Accounts payable and accrued expenses (1)	$	47,328	$	47,328	Level 1	$	126,429	$	126,429	Level 1
Interest rate swaps	$	839	$	839	Level 2	$	1,478	$	1,478	Level 2
Debt, net	$	1,685,472	$	1,698,213	Level 2	$	1,726,927	$	1,759,905	Level 2

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