ATLANTA, May 14, 2024 (Globe Newswire) — Piedmont Office Realty Trust, Inc. (“Piedmont”) (NYSE:PDM) is an owner and owner of Class A office real estate primarily located in the Sunbelt. , is the largest owner of office real estate. Travel + Leisure, Inc. (NYSE: TNL), the world's leading membership and leisure travel company, announced today that it has selected Piedmont's 501 W. Church building in downtown Orlando as its new headquarters. Travel + Leisure has signed a new lease for the entire five-story, approximately 182,000 square foot building through 2040 and plans to eventually employ approximately 900 people at the facility. Piedmont plans to renovate and rebrand the building in anticipation of Travel + Leisure's 2025 launch, adding signage and state-of-the-art amenities such as a new fitness center, conference center and cafe. Create a uniquely customized office experience for your employees and embrace the vibrancy and economy of downtown Orlando.
“We are honored that a world-class company like Travel and Leisure has chosen 501 W. Church as their headquarters location,” said Alex Valente, executive vice president for Southeast Piedmont. . “We are extremely grateful for the collaboration and support from Mayor Dyer’s administration and the Orlando Economic Partnership as we attract the largest lease acquisition in downtown Orlando since 2019.”
Piedmont was represented internally in the transaction by Alex Valente and Ben Mullenix, and externally advised by Michael Phipps and Colin Morrison of CBRE. Travel + Leisure was advised by Greg Katz and Jason Warren of Stream Realty Partners and Mike Hopper of Newmark.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality Class A office real estate located primarily in the Sunbelt. Its approximately $5 billion portfolio currently consists of approximately 16 million square feet, approximately 1.5 million square feet of which are located in downtown Orlando. The Company is a fully integrated, self-managed real estate investment trust (REIT) with local management offices in each market and is rated investment grade by S&P Global Ratings (BBB-) and Moody's (Baa3). Masu. Piedmont has been named a 2024 ENERGY STAR Partner of the Year – Sustained Excellence. For more information, please visit www.piedmontreit.com.
Contact: Sarah Heimlich
Company Name: Piedmont Office Realty Trust
Phone: 770 418 8800
Email: Investor.relations@Piedmontreit.com
