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Property Dispositions and Assets Held for Sale
 12 Months Ended
Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Property Dispositions and Assets Held for Sale Property Dispositions and Assets Held for Sale
Property Dispositions

None of Piedmont's property dispositions during the three years ended December 31, 2021 met the criteria to be reported as discontinued operations. The operational results and gain on sale of real estate assets are presented as continuing operations in the accompanying consolidated statements of operations, unless otherwise indicated below. Details of such properties sold are presented below (in thousands):

Buildings SoldLocationDate of SaleGain on Sale of Real Estate AssetsNet Sales Proceeds
One Independence SquareWashington, D.C.February 28, 2019$33,176 $163,623 
The DupreeAtlanta, GeorgiaSeptember 4, 2019$— 
(1)
$12,631 
500 West Monroe StreetChicago, IllinoisOctober 28, 2019$157,739 $408,851 
1901 Market StreetPhiladelphia, PennsylvaniaJune 25, 2020$191,030 $350,805 
New Jersey Portfolio
Various(2)
October 28, 2020$14,636 $9,289 
(3)

(1)As discussed in Note 7 above, Piedmont recognized an impairment loss prior to the sale of the property.
(2)The New Jersey Portfolio is comprised of the following three properties: 200 Bridgewater Crossing in Bridgewater, New Jersey; 400 Bridgewater Crossing in Bridgewater, New Jersey; and 600 Corporate Drive in Lebanon, New Jersey.
(3)Piedmont accepted a secured $102.8 million promissory note from the buyer, which matures on October 31, 2023 and bears interest at 6% per annum. The note may be extended for three available one-year periods upon payment of applicable extension fees. Further, Piedmont also accepted a mezzanine note for $15.7 million, bearing interest at 13.55% per annum, which may be repaid any time before the October 31, 2023 maturity without penalty.
Assets Held for Sale

On January 28, 2022, Piedmont sold the 225 and 235 Presidential Way assets in Woburn, Massachusetts for $129.0 million, or $293 per square foot. The assets, which were assigned to the Boston geographic reportable segment, met the criteria for held for sale classification in the accompanying consolidated balance sheets both as of December 31, 2021, as well as December 31, 2020 for comparability.

Details of amounts held for sale as of December 31, 2021 and 2020 are presented below (in thousands):

December 31, 2021December 31, 2020
Real estate assets held for sale, net:
Land
$7,750 $7,750 
Building and improvements, less accumulated depreciation of $16,699 and $16,021 as of December 31, 2021, and 2020, respectively
55,110 52,704 
Construction in progress
1,027 — 
Total real estate assets held for sale, net
$63,887 $60,454 
Other assets held for sale, net:
Straight-line rent receivables
$2,966 $2,356 
Deferred lease costs, less accumulated amortization of $996 and $802 as of December 31, 2021 and 2020, respectively
5,427 1,872 
Total other assets held for sale, net
$8,393 $4,228