Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2019

(dollars in thousands)


					Initial Cost to Piedmont						Gross Amount of Which Carried at December 31, 2019
Description⁽¹⁾	Location	Ownership Percentage		Encumbrances	Land	Buildings and Improvements	Total⁽²⁾	Costs Capitalized Subsequent to Acquisition⁽³⁾	Land	Buildings and Improvements	Total⁽⁴⁾	Accumulated Depreciation and Amortization	Date of Construction	Date Acquired	Life on which Depreciation and Amortization in Latest Statements of Comprehensive Income is Computed (in years)⁽⁵⁾
1430 ENCLAVE PARKWAY	Houston, TX	100	%	None	7,100	37,915	45,015	5,516	5,506	45,025	50,531	20,078	1994	12/21/2000	0	-	40
CRESCENT RIDGE II	Minnetonka, MN	100	%	None	7,700	45,154	52,854	12,099	8,021	56,932	64,953	27,328	2000	12/21/2000	0	-	40
90 CENTRAL STREET	Boxborough, MA	100	%	None	3,642	29,497	33,139	2,059	3,642	31,556	35,198	13,992	2001	5/3/2002	0	-	40
6031 CONNECTION DRIVE	Irving, TX	100	%	None	3,157	43,656	46,813	5,310	3,157	48,966	52,123	21,764	1999	8/15/2002	0	-	40
6021 CONNECTION DRIVE	Irving, TX	100	%	None	3,157	42,662	45,819	11,194	3,157	53,856	57,013	23,940	2000	8/15/2002	0	-	40
6011 CONNECTION DRIVE	Irving, TX	100	%	None	3,157	29,034	32,191	18,451	3,157	47,485	50,642	13,932	1999	8/15/2002	0	-	40
US BANCORP CENTER	Minneapolis, MN	100	%	None	11,138	175,629	186,767	31,031	11,138	206,660	217,798	84,479	2000	5/1/2003	0	-	40
GLENRIDGE HIGHLANDS TWO	Atlanta, GA	100	%	None	6,662	69,031	75,693	(16,167)	6,662	52,864	59,526	25,404	2000	8/1/2003	0	-	40
200 BRIDGEWATER CROSSING	Bridgewater, NJ	100	%	None	8,182	84,160	92,342	(11,288)	8,328	72,726	81,054	30,985	2002	8/14/2003	0	-	40
400 VIRGINIA AVE	Washington, DC	100	%	None	22,146	49,740	71,886	1,579	22,146	51,319	73,465	20,412	1985	11/19/2003	0	-	40
4250 NORTH FAIRFAX DRIVE	Arlington, VA	100	%	None	13,636	70,918	84,554	13,783	13,636	84,701	98,337	32,525	1998	11/19/2003	0	-	40
1225 EYE STREET	Washington, DC	98.1	%	None	21,959	47,602	69,561	9,139	21,959	56,741	78,700	23,701	1986	11/19/2003	0	-	40
1201 EYE STREET	Washington, DC	98.6	%	None	31,985	63,139	95,124	9,416	31,985	72,555	104,540	26,779	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	94,261	1987	12/18/2003	0	-	40
60 BROAD STREET	New York, NY	100	%	None	32,522	168,986	201,508	12,105	60,708	152,905	213,613	58,955	1962	12/31/2003	0	-	40
1414 MASSACHUSETTS AVENUE	Cambridge, MA	100	%	None	4,210	35,821	40,031	(8,030)	4,365	27,636	32,001	11,120	1873	1/8/2004	0	-	40
ONE BRATTLE SQUARE	Cambridge, MA	100	%	None	6,974	64,940	71,914	(23,111)	7,113	41,690	48,803	16,976	1991	2/26/2004	0	-	40
600 CORPORATE DRIVE	Lebanon, NJ	100	%	None	3,934	—	3,934	9,281	3,934	9,281	13,215	8,775	2005	3/16/2004	0	-	40
3100 CLARENDON BOULEVARD	Arlington, VA	100	%	None	11,700	69,705	81,405	46,824	11,791	116,438	128,229	34,112	1987	12/9/2004	0	-	40


					Initial Cost						Gross Amount of Which Carried at December 31, 2019
Description⁽¹⁾	Location	Ownership Percentage		Encumbrances	Land	Buildings and Improvements	Total⁽²⁾	Costs Capitalized Subsequent to Acquisition⁽³⁾	Land	Buildings and Improvements	Total⁽⁴⁾	Accumulated Depreciation and Amortization	Date of Construction	Date Acquired	Life on which Depreciation and Amortization in Latest Statements of Comprehensive Income is Computed (in years)⁽⁵⁾
400 BRIDGEWATER CROSSING	Bridgewater, NJ	100	%	None	10,400	71,052	81,452	(14,328)	10,400	56,724	67,124	19,542	2002	2/17/2006	0	-	40
LAS COLINAS CORPORATE CENTER I	Irving, TX	100	%	None	3,912	18,830	22,742	(3,459)	2,543	16,740	19,283	6,961	1998	8/31/2006	0	-	40
LAS COLINAS CORPORATE CENTER II	Irving, TX	100	%	None	4,496	29,881	34,377	(3,484)	2,543	28,350	30,893	11,032	1998	8/31/2006	0	-	40
TWO PIERCE PLACE	Itasca, IL	100	%	None	4,370	70,632	75,002	13,155	8,156	80,001	88,157	23,285	1991	12/7/2006	0	-	40
ONE MERIDIAN CROSSINGS	Richfield, MN	100	%	None	2,919	24,398	27,317	460	2,919	24,858	27,777	6,456	1997	10/1/2010	0	-	40
TWO MERIDIAN CROSSINGS	Richfield, MN	100	%	None	2,661	25,742	28,403	766	2,661	26,508	29,169	6,964	1998	10/1/2010	0	-	40
THE MEDICI	Atlanta, GA	100	%	None	1,780	11,510	13,290	5,473	1,780	16,983	18,763	5,561	2008	6/7/2011	0	-	40
225 PRESIDENTIAL WAY	Boston, MA	100	%	None	3,626	36,916	40,542	(5,419)	3,612	31,511	35,123	6,479	2001	9/13/2011	0	-	40
235 PRESIDENTIAL WAY	Boston, MA	100	%	None	4,154	44,048	48,202	(6,851)	4,138	37,213	41,351	7,691	2000	9/13/2011	0	-	40
400 TOWNPARK	Lake Mary, FL	100	%	None	2,570	20,555	23,125	5,487	2,570	26,042	28,612	6,900	2008	11/10/2011	0	-	40
ARLINGTON GATEWAY	Arlington, VA	100	%	None	36,930	129,070	166,000	(525)	36,930	128,545	165,475	23,215	2005	3/4/2013	0	-	40
5 & 15 WAYSIDE ROAD	Burlington, MA	100	%	None	7,190	55,445	62,635	7,432	7,190	62,877	70,067	12,914	1999 / 2001	3/22/2013	0	-	40
6565 MACARTHUR BOULEVARD	Irving, TX	100	%	None	4,820	37,767	42,587	209	4,820	37,976	42,796	7,052	1998	12/5/2013	0	-	40
ONE LINCOLN PARK	Dallas, TX	100	%	None	6,640	44,810	51,450	1,250	6,640	46,060	52,700	9,352	1999	12/20/2013	0	-	40
161 CORPORATE CENTER	Irving, TX	100	%	None	2,020	10,680	12,700	(239)	2,020	10,441	12,461	2,894	1998	12/30/2013	0	-	40
5 WALL STREET	Burlington, MA	100	%	28,687	9,560	50,276	59,836	(3,722)	9,560	46,554	56,114	7,357	2008	6/27/2014	0	-	40
1155 PERIMETER CENTER WEST	Atlanta, GA	100	%	None	5,870	66,849	72,719	(2,452)	5,870	64,397	70,267	10,589	2000	8/28/2014	0	-	40
500 TOWNPARK	Lake Mary, FL	100	%	None	2,147	21,925	24,072	4,092	2,147	26,017	28,164	2,582	2016	N/A	0	-	40
PARK PLACE ON TURTLE CREEK	Dallas, TX	100	%	None	4,470	38,048	42,518	3,959	4,470	42,007	46,477	7,615	1986	1/16/2015	0	-	40


					Initial Cost												Gross Amount of Which Carried at December 31, 2019
Description⁽¹⁾	Location	Ownership Percentage		Encumbrances	Land		Buildings and Improvements		Total⁽²⁾		Costs Capitalized Subsequent to Acquisition⁽³⁾		Land		Buildings and Improvements		Total⁽⁴⁾		Accumulated Depreciation and Amortization		Date of Construction	Date Acquired	Life on which Depreciation and Amortization in Latest Statements of Comprehensive Income is Computed (in years)⁽⁵⁾
80 CENTRAL STREET	Boxborough, MA	100	%	None	1,980		8,930		10,910		3,021		1,980		11,951		13,931		1,250		1988	7/24/2015	0	-	40
ENCLAVE PLACE	Houston, TX	100	%	None	1,890		60,094		61,984		35,631		1,890		95,725		97,615		7,078		2015	N/A	0	-	40
SUNTRUST CENTER	Orlando, FL	100	%	None	11,660		139,015		150,675		6,612		11,660		145,627		157,287		18,244		1988	11/4/2015	0	-	40
GALLERIA 300	Atlanta, GA	100	%	None	4,000		73,554		77,554		5,145		4,000		78,699		82,699		12,434		1987	11/4/2015	0	-	40
GLENRIDGE HIGHLANDS ONE	Atlanta, GA	100	%	None	5,960		50,013		55,973		1,515		5,960		51,528		57,488		7,794		1998	11/24/2015	0	-	40
CNL CENTER I	Orlando, FL	99	%	None	6,470		77,858		84,328		(2,089)		6,470		75,769		82,239		9,175		1999	8/1/2016	0	-	40
CNL CENTER II	Orlando, FL	99	%	None	4,550		55,609		60,159		771		4,550		56,380		60,930		7,582		2006	8/1/2016	0	-	40
ONE WAYSIDE ROAD	Boston, MA	100	%	None	6,240		57,124		63,364		(4,471)		6,240		52,653		58,893		4,872		1997 / 2008	8/10/2016	0	-	40
GALLERIA 200	Atlanta, GA	100	%	None	6,470		55,825		62,295		3,757		6,470		59,582		66,052		6,596		1984	10/7/2016	0	-	40
750 WEST JOHN CARPENTER FREEWAY	Irving, TX	100	%	None	7,860		36,303		44,163		2,034		7,860		38,337		46,197		6,284		1999	11/30/2016	0	-	40
NORMAN POINTE I	Bloomington, MN	100	%	None	4,358		22,322		26,680		1,191		4,360		23,511		27,871		2,064		2000	12/28/2017	0	-	40
501 WEST CHURCH STREET	Orlando, FL	100	%	None	2,805		28,119		30,924		—		2,805		28,119		30,924		2,215		2003	2/23/2018	0	-	40
9320 EXCELSIOR BOULEVARD	Hopkins, MN	100	%	None	3,760		35,289		39,049		(553)		3,707		34,789		38,496		2,469		2010	10/25/2018	0	-	40
25 BURLINGTON MALL ROAD	Burlington, MA	100	%	None	10,230		54,787		65,017		(1,002)		10,230		53,785		64,015		5,203		1987	12/12/2018	0	-	40
GALLERIA 100	Atlanta, GA	100	%	None	7,285		72,449		79,734		946		7,285		73,395		80,680		3,863		1982	5/6/2019	0	-	40
GALLERIA 400	Atlanta, GA	100	%	None	5,687		92,915		98,602		203		5,687		93,118		98,805		1,614		1999	8/23/2019	0	-	40
GALLERIA 600	Atlanta, GA	100	%	None	5,418		81,003		86,421		558		5,418		81,561		86,979		1,915		2002	8/23/2019	0	-	40
PIEDMONT POWER, LLC ⁽⁶⁾	Bridgewater, NJ	100	%	None	—		79		79		2,740		—		2,819		2,819		960		N/A	12/20/2011	0	-	40
UNDEVELOPED LAND PARCELS ⁽⁷⁾	Various	100	%	None	40,503		—		40,503		(601)		37,614		2,288		39,902		206		N/A	Various			N/A
Total—All Properties					$	474,206	$	3,103,994	$	3,578,200	$	240,087	$	506,389	$	3,311,898	$	3,818,287	$	875,777

⁽¹⁾All of Piedmont's properties are office buildings, except for the separately described Undeveloped Land Parcels and solar equipment labeled Piedmont Power, LLC.

⁽²⁾Total initial cost excludes purchase price allocated to intangible lease origination costs and intangible lease liabilities.

⁽³⁾Includes improvements and carrying costs capitalized subsequent to acquisition, as well as reductions related to write-offs of fully depreciated/amortized capitalized assets and impairment losses on real estate assets.

⁽⁴⁾The net carrying value of Piedmont’s total assets for federal income tax purposes is approximately $3.3 billion.

⁽⁵⁾Piedmont’s assets are depreciated or amortized using the straight-line 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.

⁽⁶⁾Represents solar panels at the 400 Bridgewater Crossing building.

⁽⁷⁾Undeveloped Land Parcels includes land parcels that Piedmont may develop in the future.

Piedmont Office Realty Trust, Inc.

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2019

(dollars in thousands)


	2019			2018		2017
Real Estate:
Balance at the beginning of the year	$	3,924,531		$	4,438,209	$	4,800,025
Additions to/improvements of real estate	406,833			206,442		85,368
Assets disposed	(452,672)			(675,692)		(353,911)		⁽¹⁾
Assets impaired	(8,953)		⁽³⁾	—		(46,461)		⁽²⁾
Write-offs of intangible assets ⁽⁴⁾	(36,429)			(33,067)		(37,188)
Write-offs of fully depreciated/amortized assets	(15,023)			(11,361)		(9,624)
Balance at the end of the year	$	3,818,287		$	3,924,531	$	4,438,209
Accumulated Depreciation and Amortization:
Balance at the beginning of the year	$	907,937		$	1,053,467	$	1,058,704
Depreciation and amortization expense	132,600			128,456		145,837
Assets disposed	(113,309)			(229,558)		(104,262)		⁽¹⁾
Write-offs of intangible assets ⁽⁴⁾	(36,428)			(33,067)		(37,188)
Write-offs of fully depreciated/amortized assets	(15,023)			(11,361)		(9,624)
Balance at the end of the year	$	875,777		$	907,937	$	1,053,467

⁽¹⁾Includes the disposition of the 8560 Upland Drive property, Piedmont's last remaining investment in an unconsolidated joint venture.

⁽²⁾Piedmont recognized an impairment loss on a disposal group of real estate assets as part of the 2017 Disposition Portfolio (see Note 7).

⁽³⁾Piedmont recognized an impairment loss on the Dupree building, as well as the 600 Corporate Drive building (see Note 7).

⁽⁴⁾Consists of write-offs of intangible lease assets related to lease restructurings, amendments, and terminations.