Piedmont Office Realty Trust, Inc. (PDM) Company Bio
Piedmont Office Realty Trust engages in the acquisition and ownership of commercial real estate properties in the United States. Its property portfolio primarily consists of office and industrial buildings, warehouses, and manufacturing facilities. The company was founded in 1997 and is based in Norcross, Georgia.
On today's call, the company's prepared remarks and answers to your questions will contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The risks and uncertainties of these forward-looking statements are discussed in detail in our press release as well as our SEC filings.
Piedmont Office Realty Trust, Inc. ("Piedmont") (PDM), an owner of Class A office properties located primarily in select amenity-rich sub-markets within seven major Eastern U.S. office markets, today announced that it has completed the sale of its only Philadelphia asset, 1901 Market Street, for approximately $360 million, or $450 per square foot. As a result of the disposition of 1901 Market Street, 96% of Piedmont’s annualized lease revenue is now generated from its seven core markets, with a majority from its Sunbelt locations. 1901 Market Street is a 45-story, approximately 800,000 square foot building situated on approximately three-quarters of an acre in the heart of downtown Philadelphia.
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
The traditional approaches to retirement planning are longer covering all expenses in nest egg years. So what can retirees do? Thankfully, there are alternative investments that provide steady, higher-rate income streams to replace dwindling bond yields.