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Fair Value Measurements of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
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, 2019 and 2018, respectively (in thousands):
 December 31, 2019December 31, 2018
Financial InstrumentCarrying ValueEstimated
Fair Value
Level Within Fair Value HierarchyCarrying ValueEstimated
Fair Value
Level Within Fair Value Hierarchy
Assets:
Cash and cash equivalents (1)
$13,545  $13,545  Level 1$4,571  $4,571  Level 1  
Tenant receivables, net (1)
$8,226  $8,226  Level 1$10,800  $10,800  Level 1  
Restricted cash and escrows (1)
$1,841  $1,841  Level 1$1,463  $1,463  Level 1  
Interest rate swaps$—  $—  Level 2$1,199  $1,199  Level 2  
Liabilities:
Accounts payable and accrued expenses (1)
$50,049  $50,049  Level 1$47,328  $47,328  Level 1  
Interest rate swaps$5,121  $5,121  Level 2$839  $839  Level 2  
Debt, net$1,481,404  $1,536,687  Level 2$1,685,472  $1,698,213  Level 2  

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