29/07/2019 21:25:00

Piedmont Announces Promotions and Real Estate Leadership Transition

Atlanta, GA, July 29, 2019 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (the “Company” or “Piedmont”) (NYSE: PDM) announced today that it has promoted George M. Wells to Executive Vice-President (EVP) of Real Estate Operations, to oversee all property management and asset management areas of the Company, after recent senior management restructuring.  In addition, Alex Valente, who most recently served as Senior Vice-President of Piedmont’s Midwest Region based in Chicago, has relocated to Atlanta to serve as EVP of the Company’s Southeast Region, the position most recently held by Mr. Wells.

Wells and Valente are both senior Piedmont executives with approximately 30 and 15 years of Class A commercial office experience, respectively, who have been responsible for leasing, asset management, construction, and redevelopment activities for numerous assets throughout the Company’s portfolio during their tenures, including negotiating leases with some of the Company’s largest tenants, such as Salesforce, U.S. Bancorp, Independence Blue Cross, Motorola Solutions and General Electric. Piedmont’s Class A office buildings total almost 17 million square feet, with the Southeast Region composed of fourteen buildings totalling approximately 4.4 million square feet located in Atlanta and Orlando. 

Commenting on the recent reorganization which included the retirement of former Chief Executive Officer Donald A. Miller, and EVP of Real Estate Operations Carroll Reddic, the incoming President and Chief Executive Officer of Piedmont, C. Brent Smith, said, “We are fortunate to have experienced executives like George and Alex within the organization, who are well respected across the commercial real estate industry, and I am excited about the new ideas and energy that I know they will bring to their responsibilities.”  

About Piedmont

Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within eight major Eastern U.S. office markets.. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet. The Company is a fully-integrated, self-managed real estate investment trust (REIT) with local management offices in each of its major markets and is investment-grade rated by Standard & Poor's (BBB) and Moody's (Baa2). For more information, see www.piedmontreit.com.

Contact:                 Meredi Lee

Company:              Piedmont Office Realty Trust

Phone:                   1 770 418 8677

Email:                    Meredi.Lee@Piedmontreit.com 

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