Piedmont Office Realty Trust (PDM) 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 01, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Piedmont Office Realty Trust, Inc.
Entity Central Index Key	1,042,776
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		145,489,845

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets:
Land	$ 614,934	$ 617,138
Buildings and improvements, less accumulated depreciation of $896,964 and $856,254 as of June 30, 2017 and December 31, 2016, respectively	2,742,327	2,754,106
Intangible lease assets, less accumulated amortization of $94,551 and $109,152 as of June 30, 2017 and December 31, 2016, respectively	84,989	99,695
Construction in progress	15,651	34,814
Real estate assets held for sale, net	225,071	225,939
Total real estate assets	3,682,972	3,731,692
Investments in and amounts due from unconsolidated joint ventures	7,762	7,360
Cash and cash equivalents	9,596	6,992
Tenant receivables, net of allowance for doubtful accounts of $587 and $197 as of June 30, 2017 and December 31, 2016, respectively	24,269	26,494
Straight-line rent receivables	177,463	163,789
Restricted cash and escrows	1,290	1,212
Prepaid expenses and other assets	29,454	23,201
Goodwill	98,918	98,918
Deferred lease costs, less accumulated amortization of $187,122 and $175,643 as of June 30, 2017 and December 31, 2016, respectively	278,366	298,695
Other assets held for sale, net	10,222	9,815
Total assets	4,320,312	4,368,168
Liabilities:
Unsecured debt, net of discount and unamortized debt issuance costs of $9,014 and $10,269 as of June 30, 2017 and December 31, 2016, respectively	1,720,986	1,687,731
Secured debt, net of premiums and unamortized debt issuance costs of $1,063 and $1,161 as of June 30, 2017 and December 31, 2016, respectively	332,196	332,744
Accounts payable, accrued expenses, and accrued capital expenditures	111,011	165,410
Deferred income	27,416	28,406
Intangible lease liabilities, less accumulated amortization of $52,751 and $49,225 as of June 30, 2017 and December 31, 2016, respectively	43,328	48,005
Interest rate swaps	5,061	8,169
Total liabilities	2,239,998	2,270,465
Commitments and Contingencies	0	0
Stockholders’ Equity:
Shares-in-trust, 150,000,000 shares authorized; none outstanding as of June 30, 2017 or December 31, 2016	0	0
Preferred stock, no par value, 100,000,000 shares authorized; none outstanding as of June 30, 2017 or December 31, 2016	0	0
Common stock, $.01 par value, 750,000,000 shares authorized; 145,489,845 and 145,235,313 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	1,455	1,452
Additional paid-in capital	3,675,562	3,673,128
Cumulative distributions in excess of earnings	(1,603,119)	(1,580,863)
Other comprehensive income	4,547	2,104
Piedmont stockholders’ equity	2,078,445	2,095,821
Noncontrolling interest	1,869	1,882
Total stockholders’ equity	2,080,314	2,097,703
Total liabilities and stockholders’ equity	$ 4,320,312	$ 4,368,168

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Assets:
Intangible lease assets, accumulated amortization		$ 94,551	$ 109,152
Tenant receivables, allowance for doubtful accounts		587	197
Deferred lease costs, accumulated amortization		187,122	175,643
Liabilities:
Intangible lease liabilities, accumulated amortization		$ 52,751	$ 49,225
Stockholders’ Equity:
Shares-in-trust, shares authorized		150,000,000	150,000,000
Shares-in-trust, shares outstanding		0	0
Preferred stock, par value (in dollars per share)		$ 0	$ 0
Preferred stock, shares authorized		100,000,000	100,000,000
Preferred stock, shares outstanding		0	0
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized		750,000,000	750,000,000
Common stock, shares issued		145,489,845	145,235,313
Common stock, shares outstanding		145,489,845	145,235,313
Unsecured Debt [Member]
Liabilities:
Discount, (premiums) and unamortized debt issuance costs	[1]	$ 9,014	$ 10,269
Secured Debt [Member]
Liabilities:
Discount, (premiums) and unamortized debt issuance costs	[1]	(1,063)	(1,161)
Building and improvements Member]
Assets:
Buildings and improvements, accumulated depreciation		$ 896,964	$ 856,254
[1]	Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of June 30, 2017 and December 31, 2016 is interest-only.

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Rental income		$ 124,248	$ 111,767	$ 247,698	$ 226,505
Tenant reimbursements		24,044	23,086	48,544	45,837
Property management fee revenue		387	454	900	977
Total revenues		148,679	135,307	297,142	273,319
Expenses:
Property operating costs		55,779	52,292	111,163	106,571
Depreciation		30,059	31,556	60,827	63,338
Amortization		19,314	17,402	39,729	35,208
Impairment loss on real estate assets	[1]	0	10,950	0	10,950
General and administrative		8,036	8,316	16,632	16,089
Operating expenses		113,188	120,516	228,351	232,156
Real estate operating income		35,491	14,791	68,791	41,163
Other income (expense):
Interest expense		(18,421)	(16,413)	(36,478)	(32,798)
Other income/(expense)		38	(41)	(62)	253
Equity in income of unconsolidated joint ventures		107	110	118	225
Other income (expense)		(18,276)	(16,344)	(36,422)	(32,320)
Income/(loss) from continuing operations		17,215	(1,553)	32,369	8,843
Discontinued operations:
Operating loss		0	(1)	0	(1)
Income from discontinued operations		0	(1)	0	(1)
Gain on sale of real estate assets, net		6,492	73,835	6,439	73,815
Net income		23,707	72,281	38,808	82,657
Less: Net loss/(income) applicable to noncontrolling interest		3	(3)	6	(7)
Net income applicable to Piedmont		$ 23,710	$ 72,278	$ 38,814	$ 82,650
Per share information – basic and diluted:
Income/(loss) from continuing operations and gain on sale of real estate assets (in dollars per share)		$ 0.16	$ 0.50	$ 0.27	$ 0.57
Loss from discontinued operations (in dollars per share)		0	0	0	0
Net income applicable to common stockholders (in dollars per share)		$ 0.16	$ 0.50	$ 0.27	$ 0.57
Weighted-average common shares outstanding – basic (in shares)		145,412,524	145,178,601	145,350,074	145,227,539
Weighted-average common shares outstanding – diluted (in shares)		145,813,130	145,698,723	145,779,709	145,765,149
[1]	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income applicable to Piedmont	$ 23,710	$ 72,278	$ 38,814	$ 82,650
Other comprehensive income/(loss):
Effective portion of gain/(loss) on derivative instruments that are designated and qualify as cash flow hedges (See Note 5)	(911)	(4,068)	132	(15,029)
Plus: Reclassification of previously recorded loss included in net income (See Note 5)	977	1,113	2,283	2,246
Gain on investment in available for sale securities	15	13	28	12
Other comprehensive income/(loss)	81	(2,942)	2,443	(12,771)
Comprehensive income applicable to Piedmont	$ 23,791	$ 69,336	$ 41,257	$ 69,879

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Cumulative Distributions in Excess of Earnings [Member]	Other Comprehensive Income/ (Loss) [Member]	Non-controlling Interest [Member]
Balance at Dec. 31, 2015	$ 2,123,420	$ 1,455	$ 3,669,977	$ (1,550,698)	$ 1,661	$ 1,025
Balance (in shares) at Dec. 31, 2015		145,512,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss applicable to noncontrolling interest	7
Net income applicable to Piedmont	82,650
Other comprehensive income	$ (12,771)
Balance (in shares) at Jun. 30, 2016	145,230,000
Balance at Dec. 31, 2015	$ 2,123,420	$ 1,455	3,669,977	(1,550,698)	1,661	1,025
Balance (in shares) at Dec. 31, 2015		145,512,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share repurchases as part of an announced plan	(7,943)	$ (5)		(7,938)
Share repurchases as part of an announced plan, shares		(462,000)
Offering costs	(342)		(342)
Noncontrolling interest in consolidated joint venture	888					888
Dividends to common stockholders ($0.84 (YTD 2016) and $0.42 (YTD 2017) per share), dividends to stockholders of subsidiary, and dividends reinvested	(122,148)		(173)	(121,959)		(16)
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax	3,668	$ 2	3,666
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax (in shares)		185,000
Net loss applicable to noncontrolling interest	(15)					(15)
Net income applicable to Piedmont	99,732			99,732
Other comprehensive income	443				443
Balance at Dec. 31, 2016	$ 2,097,703	$ 1,452	3,673,128	(1,580,863)	2,104	1,882
Balance (in shares) at Dec. 31, 2016	145,235,313	145,235,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Offering costs	$ (76)		(76)
Dividends to common stockholders ($0.84 (YTD 2016) and $0.42 (YTD 2017) per share), dividends to stockholders of subsidiary, and dividends reinvested	(61,132)		(55)	(61,070)		(7)
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax	2,568	$ 3	2,565
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax (in shares)		255,000
Net loss applicable to noncontrolling interest	(6)					(6)
Net income applicable to Piedmont	38,814			38,814
Other comprehensive income	2,443				2,443
Balance at Jun. 30, 2017	$ 2,080,314	$ 1,455	$ 3,675,562	$ (1,603,119)	$ 4,547	$ 1,869
Balance (in shares) at Jun. 30, 2017	145,489,845	145,490,000

Consolidated Statements of Sto7

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Dividends to common stockholders per share	$ 0.42	$ 0.84

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net income		$ 38,808	$ 82,657
Operating distributions received from unconsolidated joint ventures		0	389
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		60,827	63,338
Amortization of debt issuance costs		810	842
Other amortization		39,034	34,912
Impairment loss on real estate assets	[1]	0	10,950
Stock compensation expense		5,403	5,653
Equity in income of unconsolidated joint ventures		(118)	(225)
Gain on sale of real estate assets, net		(6,439)	(73,815)
Changes in assets and liabilities:
Increase in tenant and straight-line rent receivables, net		(13,078)	(8,795)
(Increase)/decrease in restricted cash and escrows		(428)	4,230
Increase in prepaid expenses and other assets		(6,558)	(4,745)
Decrease in accounts payable and accrued expenses		(5,471)	(9,785)
Decrease in deferred income		(1,128)	(2,862)
Net cash provided by operating activities		111,662	102,744
Cash Flows from Investing Activities:
Acquisition of real estate assets, related intangibles, and cash held in escrow for acquisitions		0	(10,000)
Capitalized expenditures, net of accruals		(58,320)	(54,422)
Net sales proceeds from wholly-owned properties		23,023	201,690
Investments in unconsolidated joint ventures		(284)	0
Deferred lease costs paid		(9,563)	(6,266)
Net cash (used in)/provided by investing activities		(45,144)	131,002
Cash Flows from Financing Activities:
Debt issuance costs paid		(102)	(138)
Proceeds from debt		147,000	211,000
Repayments of debt		(115,694)	(357,597)
Costs of issuance of common stock		(74)	(42)
Shares withheld to pay tax obligations related to employee stock compensation		(3,380)	(2,283)
Repurchases of common stock as part of announced plan		0	(7,943)
Dividends paid and discount on dividend reinvestments		(91,664)	(61,075)
Net cash used in financing activities		(63,914)	(218,078)
Net increase in cash and cash equivalents		2,604	15,668
Cash and cash equivalents, beginning of period		6,992	5,441
Cash and cash equivalents, end of period		9,596	21,109
Supplemental Disclosures of Significant Noncash Investing and Financing Activities:
Accrued dividends and discount on dividend reinvestments		(30,532)	0
Accrued capital expenditures and deferred lease costs		$ 9,417	$ 25,146
[1]	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.

Organization

Organization	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Piedmont Office Realty Trust, Inc. (“Piedmont”) (NYSE: PDM) is a Maryland corporation that operates in a manner so as to qualify as a real estate investment trust (“REIT”) for federal income tax purposes and engages in the acquisition, development, management, and ownership of commercial real estate properties throughout the United States, including properties that are under construction, are newly constructed, or have operating histories. Piedmont was incorporated in 1997 and commenced operations in 1998. Piedmont conducts business primarily through Piedmont Operating Partnership, L.P. (“Piedmont OP”), a Delaware limited partnership, as well as performing the management of its buildings through two wholly-owned subsidiaries, Piedmont Government Services, LLC and Piedmont Office Management, LLC. Piedmont owns 99.9% of, and is the sole general partner of, Piedmont OP and as such, possesses full legal control and authority over the operations of Piedmont OP. The remaining 0.1% ownership interest of Piedmont OP is held indirectly by Piedmont through its wholly-owned subsidiary, Piedmont Office Holdings, Inc. ("POH"), the sole limited partner of Piedmont OP. Piedmont OP owns properties directly, through wholly-owned subsidiaries, and through both consolidated and unconsolidated joint ventures. References to Piedmont herein shall include Piedmont and all of its subsidiaries, including Piedmont OP and its subsidiaries and joint ventures. As of June 30, 2017 , Piedmont owned 67 in-service office properties, and one building through an unconsolidated joint venture. Piedmont's total consolidated portfolio consists of approximately 20 million square feet of primarily Class A commercial office space, and was 91.0% leased as of June 30, 2017 . As of June 30, 2017 , approximately 88% of Piedmont's ALR was generated from select sub-markets located primarily within eight major office markets located in the Eastern-half of the United States: Atlanta, Boston, Chicago, Dallas, Minneapolis, New York, Orlando, and Washington, D.C. Piedmont internally evaluates all of its real estate assets as one operating segment, and accordingly, does not report segment information.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The consolidated financial statements of Piedmont have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Article 10 of Regulation S-X, and do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair presentation of the results for such periods. Results for these interim periods are not necessarily indicative of a full year’s results. Piedmont’s consolidated financial statements include the accounts of Piedmont, Piedmont’s wholly-owned subsidiaries, any variable interest entity ("VIE") for which Piedmont or any of its wholly-owned subsidiaries is considered to have the power to direct the activities of the entity and the obligation to absorb losses/right to receive benefits, or any entity in which Piedmont or any of its wholly-owned subsidiaries owns a controlling interest. In determining whether Piedmont or Piedmont OP has a controlling interest, the following factors, among others, are considered: equity ownership, voting rights, protective rights of investors, and participatory rights of investors. For further information, refer to the financial statements and footnotes included in Piedmont’s Amended Annual Report on Form 10-K/A for the year ended December 31, 2016. All intercompany balances and transactions have been eliminated upon consolidation. Further, Piedmont has formed special purpose entities to acquire and hold real estate. Each special purpose entity is a separate legal entity. Consequently, the assets of these special purpose entities are not available to all creditors of Piedmont. The assets owned by these special purpose entities are being reported on a consolidated basis with Piedmont’s assets for financial reporting purposes only. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from those estimates. Income Taxes Piedmont has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, and has operated as such, beginning with its taxable year ended December 31, 1998. To qualify as a REIT, Piedmont must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income. As a REIT, Piedmont is generally not subject to federal income taxes, subject to fulfilling, among other things, this distribution requirement. Piedmont is subject to certain taxes related to the operations of properties in certain locations, as well as operations conducted by its taxable REIT subsidiary, POH, which have been provided for in the financial statements. Reclassifications Certain prior period amounts presented in Piedmont's Amended Annual Report on Form 10-K/A for the year ended December 31, 2016 have been reclassified to conform to the current period financial statement presentation. The reclassifications relate to the Two Independence Square building, located in Washington, D.C., which was first classified as held for sale as of March 31, 2017, and continues to be presented as held for sale as of June 30, 2017. Applicable balances related to the same asset have been reclassified as held for sale as of December 31, 2016. Recent Accounting Pronouncements The Financial Accounting Standards Board (the "FASB") has issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") and Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606) Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ("ASU 2016-08"). The amendments in ASU 2014-09, which are further clarified in ASU 2016-08, as well as Accounting Standards Update 2016-10, Accounting Standards Update 2016-12, and Accounting Standards Update 2016-20 (collectively the "Revenue Recognition Amendments"), change the criteria for the recognition of certain revenue streams to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services using a five-step determination process. Steps 1 through 5 involve (i) identifying contracts with a customer, (ii) identifying the performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the performance obligations, and (v) recognizing revenue as an entity satisfies a performance obligation. The revenues impacted by the Revenue Recognition Amendments include a portion of Piedmont's tenant reimbursement revenues and property management fee revenues. Lease contracts and reimbursement revenues associated with property taxes and insurance are specifically excluded from the Revenue Recognition Amendments. The Revenue Recognition Amendments are effective in the first quarter of 2018 for Piedmont. Management has substantially completed its initial assessment of the impact of adoption of the Revenue Recognition Amendments. Approximately 90% of Piedmont's total revenues are derived from either long-term leases with its tenants or reimbursement of property tax and insurance expenses, which are excluded from the scope of the Revenue Recognition Amendments. In addition, based on management's assessment to date, Piedmont does not expect the timing of the recognition of reimbursement revenue and revenue from management agreements to change as a result of the new guidance, though certain classifications will change between rental revenue and tenant reimbursements. Finally, management has determined, and the FASB has confirmed, that the evaluation of non-lease components under the new Revenue Recognition Amendments will not be effective until Accounting Standards Update No. 2016-02, Leases (Topic 842), ("ASU 2016-02") becomes effective (see further discussion below), which will be first quarter of 2019 for Piedmont. As a result, although management continues to evaluate the guidance and disclosures required by the Revenue Recognition Amendments, Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets ("ASU 2017-05"). The provisions of ASU 2017-05 define the term "in substance nonfinancial asset" as a financial asset promised to a counterparty in a contract if substantially all of the fair value of the assets (recognized and unrecognized) is concentrated in nonfinancial assets. Further, it states that nonfinancial assets should be derecognized once the counterparty obtains control. Finally, the amendments provide clarification for partial sales of nonfinancial assets. ASU 2017-05 is effective concurrent with the Revenue Recognition Amendments (detailed above), which will be the first quarter of 2018 for Piedmont. Although management continues to evaluate the guidance and disclosures required by ASU 2017-05, Piedmont does not anticipate a material change in how it recognizes the disposition of real estate in its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). The amendments in ASU 2016-01 require equity investments, except those accounted for under the equity method of accounting, to be measured at estimated fair value with changes in fair value recognized in net income. Additionally, ASU 2016-01 simplifies the impairment assessment of equity investments, and eliminates certain disclosure requirements. The amendments in ASU 2016-01 are effective in the first quarter of 2018, and Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (a consensus of the FASB Emerging Issues Task Force) ("ASU 2016-18"). The provisions of ASU 2016-18 require entities to show changes in restricted cash and cash equivalents in addition to cash and cash equivalents in the statement of cash flows. As a result, entities will no longer present transfers between restricted and unrestricted cash in the statement of cash flows. Disclosures are required to reconcile the amount presented on the statement of cash flows to the balance sheet, as well as disclosing the nature of restriction on the restricted cash balances. ASU 2016-18 is effective for Piedmont in the first quarter of 2018, with early adoption permitted. Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued ASU 2016-02, which fundamentally changes the definition of a lease, as well as the accounting for operating leases by requiring lessees to recognize assets and liabilities which arise from the lease, consisting of a liability to make lease payments (the lease liability) and a right-of-use asset, representing the right to use the leased asset over the term of the lease. Accounting for leases by lessors is substantially unchanged from prior practice as lessors will continue to recognize lease revenue on a straight-line basis; however, ASU 2016-02 defines certain tenant reimbursements as non-lease components which will be subject to the guidance under ASU 2014-09. The amendments in ASU 2016-02 are effective in the first quarter of 2019, and Piedmont is currently evaluating the potential impact of adoption. The FASB has issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). The provisions of ASU 2016-13 replace the "incurred loss" approach with an "expected loss" model for impairing trade and other receivables, held-to-maturity debt securities, net investment in leases, and off-balance-sheet credit exposures, which will generally result in earlier recognition of allowances for credit losses. Additionally, the provisions change the classification of credit losses related to available-for-sale securities to an allowance, rather than a direct reduction of the amortized cost of the securities. ASU 2016-13 is effective in the first quarter of 2020, with early adoption permitted as of January 1, 2019. Piedmont is currently evaluating the potential impact of adoption. The FASB has issued Accounting Standards Update No. 2017-04, Intangibles—Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). The provisions of ASU 2017-04 simplify how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test, which is generally performed annually unless events or circumstances arise which would necessitate evaluating the carrying value for impairment in the interim. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a entity’s goodwill with the carrying amount of that goodwill by determining the fair value of its assets and liabilities (including unrecognized assets and liabilities) following the procedures that would be required in a business combination. Under the provisions of ASU 2017-04, an entity would instead recognize an impairment charge for the amount by which the carrying amount exceeds the entity’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that entity. ASU 2017-04 is effective in the first quarter of 2020, with early adoption permitted as of the first interim or annual impairment test of goodwill after January 1, 2017. Piedmont is currently evaluating the potential impact of adoption.

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the terms of Piedmont’s indebtedness outstanding as of June 30, 2017 and December 31, 2016 (in thousands): Facility (1) Stated Rate Effective Rate (2) Maturity Amount Outstanding as of June 30, 2017 December 31, 2016 Secured (Fixed) $140 Million WDC Fixed-Rate Loans (3) 5.76 % 5.76 % 11/1/2017 $ 140,000 (4) $ 140,000 $35 Million Fixed-Rate Loan (5) 5.55 % 3.75 % 9/1/2021 31,133 31,583 $160 Million Fixed-Rate Loan (6) 3.48 % 3.58 % 7/5/2022 160,000 160,000 Net premium and unamortized debt issuance costs 1,063 1,161 Subtotal/Weighted Average (7) 4.64 % 332,196 332,744 Unsecured (Variable and Fixed) $170 Million Unsecured 2015 Term Loan (8) LIBOR + 1.125% 2.29 % 5/15/2018 170,000 170,000 $300 Million Unsecured 2013 Term Loan LIBOR + 1.20% 2.78 % 1/31/2019 300,000 300,000 $500 Million Unsecured 2015 Line of Credit (8) LIBOR + 1.00% 2.14 % 6/18/2019 (9) 210,000 (10) 178,000 $300 Million Unsecured 2011 Term Loan LIBOR + 1.15% 3.35 % 1/15/2020 300,000 300,000 $350 Million Senior Notes 3.40 % 3.43 % 6/01/2023 350,000 350,000 $400 Million Senior Notes 4.45 % 4.10 % 3/15/2024 400,000 400,000 Discounts and unamortized debt issuance costs (9,014) (10,269) Subtotal/Weighted Average (7) 3.26 % 1,720,986 1,687,731 Total/Weighted Average (7) 3.48 % $ 2,053,182 $ 2,020,475 (1) Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of June 30, 2017 and December 31, 2016 is interest-only. (2) Effective rate after consideration of settled or in place interest rate swap agreements and/or issuance premiums or discounts. (3) Collateralized by the 1201 and 1225 Eye Street buildings in Washington, D.C. (4) On August 1, 2017, Piedmont fully repaid the $140 Million WDC Fixed-Rate Loans without penalty using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13 ). (5) Collateralized by the 5 Wall Street building in Burlington, Massachusetts. (6) Collateralized by the 1901 Market Street building in Philadelphia, Pennsylvania. (7) Weighted average is based on contractual balance of outstanding debt and the stated or effectively fixed interest rates in the table as of June 30, 2017 . (8) On a periodic basis, Piedmont may select from multiple interest rate options, including the prime rate and various-length LIBOR locks. All LIBOR selections are subject to an additional spread over the selected rate based on Piedmont’s current credit rating. (9) Piedmont may extend the term for up to one additional year (through two available six month extensions to a final extended maturity date of June 18, 2020) provided Piedmont is not then in default and upon payment of extension fees. (10) On July 5, 2017, Piedmont repaid the outstanding balance of the $500 Million Unsecured 2015 Line of Credit, using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13 ). Piedmont made interest payments on all debt facilities, including interest rate swap cash settlements, of approximately $16.7 million and $15.4 million for the three months ended June 30, 2017 and 2016 , respectively, and approximately $36.0 million and $34.7 million for the six months ended June 30, 2017 and 2016 , respectively. Also, Piedmont capitalized interest of approximately $35,000 and $735,000 for the three months ended June 30, 2017 and 2016 , respectively, and approximately $0.1 million and $1.9 million for the six months ended June 30, 2017 and 2016 , respectively. As of June 30, 2017 , Piedmont believes it was in compliance with all financial covenants associated with its debt instruments. See Note 6 for a description of Piedmont’s estimated fair value of debt as of June 30, 2017 .

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Variable interest holders who have the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and have the obligation to absorb the majority of losses of the entity or the right to receive significant benefits of the entity must consolidate the VIE. Each of the following VIEs has the sole purpose of holding land and office buildings and their resulting operations, and are classified in the accompanying consolidated balance sheets in the same manner as Piedmont’s wholly-owned properties. A summary of Piedmont’s interests in, and consolidation treatment of, its VIEs and their related carrying values as of June 30, 2017 and December 31, 2016 is as follows (net carrying amount in millions): Entity Piedmont’s % Ownership of Entity Related Building Consolidated/ Unconsolidated Net Carrying Amount as of June 30, 2017 Net Carrying Amount as of December 31, 2016 Primary Beneficiary Considerations 1201 Eye Street N.W. Associates, LLC 49.5% 1201 Eye Street Consolidated $ (0.9 ) $ (6.7 ) In accordance with the partnership’s governing documents, Piedmont is entitled to 100% of the cash flow of the entity and has sole discretion in directing the management and leasing activities of the building. 1225 Eye Street N.W. Associates, LLC 49.5% 1225 Eye Street Consolidated $ 8.8 $ 9.9 In accordance with the partnership’s governing documents, Piedmont is entitled to 100% of the cash flow of the entity and has sole discretion in directing the management and leasing activities of the building. Piedmont 500 W. Monroe Fee, LLC 100% 500 W. Monroe Consolidated $ 267.6 $ 262.4 The Omnibus Agreement with the previous owner includes equity participation rights for the previous owner, if certain financial returns are achieved; however, Piedmont has sole decision making authority and is entitled to 100% of the economic benefits of the property until such returns are met.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Risk Management Objective of Using Derivatives In addition to operational risks which arise in the normal course of business, Piedmont is exposed to economic risks such as interest rate, liquidity, and credit risk. In certain situations, Piedmont has entered into derivative financial instruments such as interest rate swap agreements and other similar agreements to manage interest rate risk exposure arising from current or future variable rate debt transactions. Interest rate swap agreements involve the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Piedmont’s objective in using interest rate derivatives is to add stability to interest expense and to manage its exposure to interest rate movements. Cash Flow Hedges of Interest Rate Risk Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for Piedmont making fixed-rate payments over the life of the agreements without changing the underlying notional amount. As of June 30, 2017 , Piedmont was party to various interest rate swap agreements, all of which are designated as effective cash flow hedges and fully hedge the variable cash flows associated with its $300 Million Unsecured 2011 Term Loan and its $300 Million Unsecured 2013 Term Loan. The maximum length of time over which Piedmont is hedging its exposure to the variability in future cash flows for forecasted transactions is 30 months. A detail of Piedmont’s interest rate derivatives outstanding as of June 30, 2017 is as follows: Interest Rate Derivatives: Number of Swap Agreements Associated Debt Instrument Total Notional Amount (in millions) Effective Date Maturity Date Interest rate swaps 4 $300 Million Unsecured 2013 Term Loan $ 200 1/30/2014 1/31/2019 Interest rate swaps 2 $300 Million Unsecured 2013 Term Loan 100 8/29/2014 1/31/2019 Interest rate swaps 3 $300 Million Unsecured 2011 Term Loan 300 11/22/2016 1/15/2020 Total $ 600 Piedmont presents its interest rate derivatives on its consolidated balance sheets on a gross basis as interest rate swap assets and interest rate swap liabilities. A detail of Piedmont’s interest rate derivatives on a gross and net basis as of June 30, 2017 and December 31, 2016 , respectively, is as follows (in thousands): Interest rate swaps classified as: June 30, December 31, Gross derivative assets $ — $ — Gross derivative liabilities 5,061 8,169 Net derivative liability $ 5,061 $ 8,169 The effective portion of Piedmont's interest rate derivatives, including the gain/(loss) on previously settled forward swaps, that was recorded in the accompanying consolidated statements of income for the three and six months ended June 30, 2017 and 2016 , respectively, was as follows (in thousands): Three Months Ended Six Months Ended Interest Rate Swaps in Cash Flow Hedging Relationships June 30, June 30, June 30, June 30, Amount of gain/(loss) recognized in OCI $ (911 ) $ (4,068 ) $ 132 $ (15,029 ) Amount of previously recorded loss reclassified from accumulated OCI into interest expense $ 977 $ 1,113 $ 2,283 $ 2,246 Piedmont estimates that approximately $1.7 million will be reclassified from accumulated other comprehensive loss to interest expense over the next twelve months. Piedmont recognized no loss related to hedge ineffectiveness of its cash flow hedges during the three and six months ended June 30, 2017 and 2016 , respectively. Additionally, see Note 6 for fair value disclosures of Piedmont's derivative instruments. Credit-risk-related Contingent Features Piedmont has agreements with its derivative counterparties that contain a provision whereby if Piedmont defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Piedmont could also be declared in default on its derivative obligations. If Piedmont were to breach any of the contractual provisions of the derivative contracts, it could be required to settle its obligations under the agreements at their termination value of the estimated fair values plus accrued interest, or approximately $5.2 million as of June 30, 2017 . Additionally, Piedmont has rights of set-off under certain of its derivative agreements related to potential termination fees and amounts payable under the agreements, if a termination were to occur.

Fair Value Measurement of Finan

Fair Value Measurement of Financial Instruments	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurement of Financial Instruments	Fair Value Measurement of Financial Instruments Piedmont considers its cash and cash equivalents, tenant receivables, restricted cash and escrows, accounts payable and accrued expenses, interest rate swap agreements, and debt to meet the definition of financial instruments. 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 June 30, 2017 and December 31, 2016 , respectively (in thousands): June 30, 2017 December 31, 2016 Financial Instrument Carrying Value Estimated Fair Value Level Within Fair Value Hierarchy Carrying Value Estimated Fair Value Level Within Fair Value Hierarchy Assets: Cash and cash equivalents (1) $ 9,596 $ 9,596 Level 1 $ 6,992 $ 6,992 Level 1 Tenant receivables, net (1) $ 24,269 $ 24,269 Level 1 $ 26,494 $ 26,494 Level 1 Restricted cash and escrows (1) $ 1,290 $ 1,290 Level 1 $ 1,212 $ 1,212 Level 1 Liabilities: Accounts payable and accrued expenses (1) $ 12,935 $ 12,935 Level 1 $ 44,733 $ 44,733 Level 1 Interest rate swap $ 5,061 $ 5,061 Level 2 $ 8,169 $ 8,169 Level 2 Debt, net $ 2,053,182 $ 2,081,120 Level 2 $ 2,020,475 $ 2,027,436 Level 2 (1) For the periods presented, the carrying value of these financial instruments approximates estimated fair value due to their short-term maturity. Piedmont's debt was carried at book value as of June 30, 2017 and December 31, 2016 ; however, Piedmont's estimate of its estimated fair value is disclosed in the table above. Piedmont uses widely accepted valuation techniques including discounted cash flow analysis based on the contractual terms of the debt facilities, including the period to maturity of each instrument, and uses observable market-based inputs for similar debt facilities which have transacted recently in the market. Therefore, the estimated fair values determined are considered to be based on significant other observable inputs (Level 2). Scaling adjustments are made to these inputs to make them applicable to the remaining life of Piedmont's outstanding debt. Piedmont has not changed its valuation technique for estimating the fair value of its debt. Piedmont’s interest rate swap and forward starting interest rate swap agreements presented above, and further discussed in Note 5 , are classified as “Interest rate swap” liabilities in the accompanying consolidated balance sheets and were carried at estimated fair value as of June 30, 2017 and December 31, 2016 . The valuation of these derivative instruments was determined using widely accepted valuation techniques including discounted cash flow analysis based on the contractual terms of the derivatives, including the period to maturity of each instrument, and uses observable market-based inputs, including interest rate curves and implied volatilities. Therefore, the estimated fair values determined are considered to be based on significant other observable inputs (Level 2). In addition, Piedmont considered both its own and the respective counterparties’ risk of nonperformance in determining the estimated fair value of its derivative financial instruments by estimating the current and potential future exposure under the derivative financial instruments that both Piedmont and the counterparties were at risk for as of the valuation date. The credit risk of Piedmont and its counterparties was factored into the calculation of the estimated fair value of the interest rate swaps; however, as of June 30, 2017 and December 31, 2016 , this credit valuation adjustment did not comprise a material portion of the estimated fair value. Therefore, Piedmont believes that any unobservable inputs used to determine the estimated fair values of its derivative financial instruments are not significant to the fair value measurements in their entirety, and does not consider any of its derivative financial instruments to be Level 3 liabilities.

Impairment Loss on Real Estate

Impairment Loss on Real Estate Assets	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
Impairment Loss on Real Estate Assets	Impairment Loss on Real Estate Assets Piedmont recorded impairment loss on real estate assets for the three and six months ended June 30, 2017 and 2016 , respectively, as follows (in thousands): Three Months Ended Six Months Ended 2017 2016 2017 2016 150 West Jefferson (1) $ — $ 8,259 $ — $ 8,259 9221 Corporate Boulevard (2) — 2,691 — 2,691 Total impairment loss on real estate assets (3) $ — $ 10,950 $ — $ 10,950 (1) Piedmont recognized an impairment loss on real estate assets based upon the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs. (2) Piedmont, using a probability-weighted model heavily weighted towards the short-term sale of the 9221 Corporate Boulevard building in Rockville, Maryland, determined that the carrying value would not be recovered from the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. As a result, Piedmont recognized a loss on impairment of approximately $2.7 million during the six months ended June 30, 2016 calculated as the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs. (3) The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments Under Existing Lease Agreements Under its existing lease agreements, Piedmont may be required to fund significant tenant improvements, leasing commissions, and building improvements. In addition, certain agreements contain provisions that require Piedmont to issue corporate or property guarantees to provide funding for capital improvements or other financial obligations. Piedmont classifies its capital improvements into two categories: (i) improvements which maintain the building's existing asset value and its revenue generating capacity (“non-incremental capital expenditures”) and (ii) improvements which incrementally enhance the building's asset value by expanding its revenue generating capacity (“incremental capital expenditures”). As of June 30, 2017 , commitments to fund potential non-incremental capital expenditures over the next five years for tenant improvements totaled approximately $31.4 million related to Piedmont's existing lease portfolio over the respective lease terms, the majority of which Piedmont estimates may be required to be funded over the next three years based on when the underlying leases commence. For most of Piedmont’s leases, the timing of the actual funding of these tenant improvements is largely dependent upon tenant requests for reimbursement. In some cases, these obligations may expire with the leases without further recourse to Piedmont. As of June 30, 2017 , commitments for incremental capital expenditures for tenant improvements associated with executed leases totaled approximately $13.2 million . Contingencies Related to Tenant Audits/Disputes Certain lease agreements include provisions that grant tenants the right to engage independent auditors to audit their annual operating expense reconciliations. Such audits may result in the re-interpretation of language in the lease agreements which could result in the refund of previously recognized tenant reimbursement revenues, resulting in financial loss to Piedmont. Piedmont recorded $20,000 and $0 of such reductions in reimbursement revenues related to such tenant audits/disputes during the three months ended June 30, 2017 and 2016 , respectively, and $0.3 million and $0 of such reductions in reimbursement revenues related to such tenant audits/disputes during the six months ended June 30, 2017 and 2016 , respectively.

Property Dispositions, Assets H

Property Dispositions, Assets Held for Sale, and Discontinued Operations	6 Months Ended
	Jun. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]
Property Dispositions, Assets Held for Sale, and Discontinued Operations	Property Dispositions, Assets Held for Sale, and Discontinued Operations Properties sold during the six months ended June 30, 2017 and 2016 did not meet the criteria to be reported as discontinued operations. The operational results for these properties prior to their sale dates are presented as continuing operations in the accompanying consolidated statements of income, and the gain/(loss) on sale is presented separately on the face of the income statement. Details of such properties sold are presented below (in thousands): Buildings Sold (1) Location Date of Sale Gain/(Loss) on Sale Net Sales Proceeds 1055 East Colorado Boulevard Pasadena, California April 21, 2016 $ 29,462 $ 60,076 Fairway Center II Brea, California April 28, 2016 $ 14,406 $ 33,062 1901 Main Street Irvine, California May 2, 2016 $ 29,964 $ 63,149 Sarasota Commerce Center II Sarasota, Florida June 16, 2017 $ 6,497 $ 23,094 Assets Held for Sale In February 2017, Piedmont reclassified the Two Independence Square building from real estate assets held for use to real estate assets held for sale as a result of entering into a binding agreement to sell the property. The sale of the Two Independence Square building closed on July 5, 2017. Details of assets held for sale as of June 30, 2017 and December 31, 2016 are presented below (in thousands): June 30, 2017 December 31, 2016 Real estate assets held for sale, net: Land $ 52,710 $ 52,710 Building and improvements, less accumulated depreciation of $89,187 and $88,319 as of June 30, 2017 and December 31, 2016, respectively 172,350 173,218 Construction in progress 11 11 Total real estate assets held for sale, net $ 225,071 $ 225,939 Other assets held for sale, net: Straight-line rent receivables $ 2,225 $ 2,059 Prepaid expenses and other assets 762 454 Deferred lease costs, less accumulated amortization of $2,892 and $2,825 as of June 30, 2017 and December 31, 2016, respectively 7,235 7,302 Total other assets held for sale, net $ 10,222 $ 9,815 Details comprising loss from discontinued operations activity for the three and six months ended ended June 30, 2017 and 2016 are presented below (in thousands): Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Revenues: Rental income $ — $ — $ — $ — Tenant reimbursements — — — — — — — — Expenses: Property operating costs — — — — General and administrative — 1 — 1 — 1 — 1 Operating income — (1 ) — (1 ) Loss on sale of real estate assets — — — — Income from discontinued operations $ — $ (1 ) $ — $ (1 )

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	Stock Based Compensation The Compensation Committee of Piedmont's Board of Directors has periodically granted deferred stock awards to all of Piedmont's employees and independent directors. The awards typically vest ratably over a multi-year period, or one year for independent director awards. Certain employees' long-term equity incentive program is split equally between the time-vested awards described above and a multi-year performance share program whereby awards may be earned based upon Piedmont's total stockholder return ("TSR") relative to a peer group's TSR. The peer group is predetermined by the Board of Directors. Any shares earned are awarded at the end of the multi-year performance period and vest upon award. A rollforward of Piedmont's equity based award activity for the six months ended June 30, 2017 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested Stock Awards as of December 31, 2016 944,223 $ 19.44 Deferred Stock Awards Granted 299,251 $ 21.38 Increase in Estimated Potential Future Performance Share Awards, net of forfeitures 150,537 $ 28.37 Performance Stock Awards Vested (118,446 ) $ 22.00 Deferred Stock Awards Vested (301,921 ) $ 19.35 Deferred Stock Awards Forfeited (4,761 ) $ 19.57 Unvested Stock Awards as of June 30, 2017 968,883 $ 21.94 The following table provides additional information regarding stock award activity during the three and six months ended June 30, 2017 and 2016 , respectively (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Weighted-Average Grant Date Fair Value of Deferred Stock Granted During the Period $ 21.38 $ 19.96 $ 21.38 $ 19.96 Total Grant Date Fair Value of Deferred Stock Vested During the Period $ 5,551 $ 4,319 $ 5,841 $ 4,659 Share-based Liability Awards Paid During the Period (1) $ — $ — $ 2,877 $ 1,127 (1) Amounts reflect the issuance of performance share awards related to the 2014-16 and 2013-15 Performance Share Plans during the six months ended June 30, 2017 and 2016, respectively. A detail of Piedmont’s outstanding stock awards as of June 30, 2017 is as follows: Date of grant Type of Award Net Shares Granted (1) Grant Date Fair Value Vesting Schedule Unvested Shares as of June 30, 2017 January 3, 2014 Deferred Stock Award 86,769 $ 16.56 Of the shares granted, 20% vested or will vest on January 3, 2015, 2016, 2017, 2018, and 2019, respectively. 35,094 May 1, 2015 Deferred Stock Award 216,919 $ 17.59 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 1, 2016, 2017, and 2018, respectively. 67,747 May 1, 2015 Fiscal Year 2015-2017 Performance Share Program — $ 18.42 Shares awarded, if any, will vest immediately upon determination of award in 2018. 229,828 (2) May 24, 2016 Deferred Stock Award 233,073 $ 19.91 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 24, 2017, 2018, and 2019, respectively. 134,117 May 24, 2016 Fiscal Year 2016-2018 Performance Share Program — $ 23.02 Shares awarded, if any, will vest immediately upon determination of award in 2019. 85,792 (2) May 18, 2017 Deferred Stock Award-Board of Directors 26,187 $ 21.38 Of the shares granted, 100% will vest by May 18, 2018. 26,187 May 18, 2017 Deferred Stock Award 246,808 $ 21.38 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 18, 2018, 2019, and 2020, respectively. 202,233 May 18, 2017 Fiscal Year 2017-2019 Performance Share Program — $ 30.45 Shares awarded, if any, will vest immediately upon determination of award in 2020. 187,885 (2) Total 968,883 (1) Amounts reflect the total grant to employees and independent directors, net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations through June 30, 2017 . (2) Estimated based on Piedmont's cumulative TSR for the respective performance period through June 30, 2017 . Share estimates are subject to change in future periods based on both Piedmont's and its peers' stock performance and dividends paid. During the three months ended June 30, 2017 and 2016 , Piedmont recognized approximately $2.6 million and $3.2 million of compensation expense related to stock awards, of which $1.1 million and $1.7 million related to the amortization of unvested shares, respectively. During the six months ended June 30, 2017 and 2016 , Piedmont recognized approximately $5.7 million and $5.7 million of compensation expense related to stock awards, of which $3.9 million and $4.2 million related to the amortization of unvested shares, respectively. During the six months ended June 30, 2017 , a net total of 254,532 shares were issued to employees and independent directors. As of June 30, 2017 , approximately $6.4 million of unrecognized compensation cost related to unvested deferred stock awards remained, which Piedmont will record in its consolidated statements of income over a weighted-average vesting period of approximately two years.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share There are no adjustments to “Net income applicable to Piedmont” for the diluted earnings per share computations. Adjustments to the carrying amount of non-controlling interest as a result of the measurement of a redeemable equity participation do not impact net income or comprehensive income; rather such adjustments are treated as the repurchase of a non-controlling interest. Net income per share-basic is calculated as net income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Net income per share-diluted is calculated as net income available to common stockholders divided by the diluted weighted average number of common shares outstanding during the period, including unvested deferred stock awards. Diluted weighted average number of common shares reflects the potential dilution under the treasury stock method that would occur if the remaining unvested deferred stock awards vested and resulted in additional common shares outstanding. Unvested deferred stock awards which are determined to be anti-dilutive are not included in the calculation of diluted weighted average common shares. The following table reconciles the denominator for the basic and diluted earnings per share computations shown on the consolidated statements of income for the three and six months ended June 30, 2017 and 2016 , respectively (in thousands): Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Weighted-average common shares – basic 145,413 145,179 145,350 145,228 Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards 400 520 430 537 Weighted-average common shares – diluted 145,813 145,699 145,780 145,765 Common stock issued and outstanding as of period end 145,490 145,230

Guarantor and Non-Guarantor Fin

Guarantor and Non-Guarantor Financial Information	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor and Non-Guarantor Financial Information	Guarantor and Non-Guarantor Financial Information The following condensed consolidating financial information for Piedmont Operating Partnership, L.P. (the "Issuer"), Piedmont Office Realty Trust, Inc. (the "Guarantor"), and the other directly and indirectly owned subsidiaries of the Guarantor (the "Non-Guarantor Subsidiaries") is provided pursuant to the requirements of Rule 3-10 of Regulation S-X regarding financial statements of guarantors and issuers of guaranteed registered securities. The Issuer is a wholly-owned subsidiary of the Guarantor, and all guarantees by the Guarantor of securities issued by the Issuer are full and unconditional. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions, including transactions with the Non-Guarantor Subsidiaries. Condensed Consolidated Balance Sheets As of June 30, 2017 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Assets: Real estate assets, at cost: Land $ 43,929 $ — $ 571,005 $ — $ 614,934 Buildings and improvements, less accumulated depreciation 209,091 — 2,533,536 (300 ) 2,742,327 Intangible lease assets, less accumulated amortization 453 — 84,536 — 84,989 Construction in progress 572 — 15,079 — 15,651 Real estate assets held for sale, net — — 225,071 — 225,071 Total real estate assets 254,045 — 3,429,227 (300 ) 3,682,972 Investments in and amounts due from unconsolidated joint ventures 7,762 — — — 7,762 Cash and cash equivalents 5,181 150 4,265 — 9,596 Tenant and straight-line rent receivables, net 17,266 — 184,466 — 201,732 Advances to affiliates 6,465,350 1,316,446 — (7,781,796 ) — Investment in subsidiary — 3,569,494 178 (3,569,672 ) — Notes receivable 88,910 — 95,790 (184,700 ) — Prepaid expenses, restricted cash, escrows, and other assets 5,007 76 26,752 (1,091 ) 30,744 Goodwill 98,918 — — — 98,918 Deferred lease costs, net 14,500 — 263,866 — 278,366 Other assets held for sale, net — — 10,222 — 10,222 Total assets $ 6,956,939 $ 4,886,166 $ 4,014,766 $ (11,537,559 ) $ 4,320,312 Liabilities: Debt, net $ 1,735,196 $ — $ 502,686 $ (184,700 ) $ 2,053,182 Accounts payable, accrued expenses, and accrued capital expenditures 16,328 565 95,209 (1,091 ) 111,011 Advances from affiliates 729,007 5,100,839 2,050,205 (7,880,051 ) — Deferred income 2,934 — 24,482 — 27,416 Intangible lease liabilities, net — — 43,328 — 43,328 Interest rate swaps 5,061 — — — 5,061 Total liabilities 2,488,526 5,101,404 2,715,910 (8,065,842 ) 2,239,998 Stockholders’ Equity: Common stock — 1,455 — — 1,455 Additional paid-in capital 3,565,494 3,678,434 1,306 (3,569,672 ) 3,675,562 Retained/(cumulative distributions in excess of) earnings 898,372 (3,895,127 ) 1,295,681 97,955 (1,603,119 ) Other comprehensive loss 4,547 — — — 4,547 Piedmont stockholders’ equity 4,468,413 (215,238 ) 1,296,987 (3,471,717 ) 2,078,445 Noncontrolling interest — — 1,869 — 1,869 Total stockholders’ equity 4,468,413 (215,238 ) 1,298,856 (3,471,717 ) 2,080,314 Total liabilities and stockholders’ equity $ 6,956,939 $ 4,886,166 $ 4,014,766 $ (11,537,559 ) $ 4,320,312 Condensed Consolidated Balance Sheets As of December 31, 2016 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Assets: Real estate assets, at cost: Land $ 46,133 $ — $ 571,005 $ — $ 617,138 Buildings and improvements, less accumulated depreciation 228,194 — 2,526,212 (300 ) 2,754,106 Intangible lease assets, less accumulated amortization 725 — 98,970 — 99,695 Construction in progress 145 — 34,669 — 34,814 Real estate assets held for sale, net — — 225,939 — 225,939 Total real estate assets 275,197 — 3,456,795 (300 ) 3,731,692 Investments in and amounts due from unconsolidated joint ventures 7,360 — — — 7,360 Cash and cash equivalents 3,674 150 3,168 — 6,992 Tenant and straight-line rent receivables, net 20,159 — 170,124 — 190,283 Advances to affiliates 6,464,135 1,315,616 — (7,779,751 ) — Investment in subsidiary — 3,630,564 181 (3,630,745 ) — Notes receivable 88,910 — 95,790 (184,700 ) — Prepaid expenses, restricted cash, escrows, and other assets 6,189 — 20,121 (1,897 ) 24,413 Goodwill 98,918 — — — 98,918 Deferred lease costs, net 16,550 — 282,145 — 298,695 Other assets held for sale, net — — 9,815 — 9,815 Total assets $ 6,981,092 $ 4,946,330 $ 4,038,139 $ (11,597,393 ) $ 4,368,168 Liabilities: Debt, net $ 1,701,933 $ — $ 503,242 $ (184,700 ) $ 2,020,475 Accounts payable, accrued expenses, and accrued capital expenditures 17,365 31,230 118,712 (1,897 ) 165,410 Advances from affiliates 708,340 5,071,521 2,098,146 (7,878,007 ) — Deferred income 5,206 — 23,200 — 28,406 Intangible lease liabilities, net — — 48,005 — 48,005 Interest rate swaps 8,169 — — — 8,169 Total liabilities 2,441,013 5,102,751 2,791,305 (8,064,604 ) 2,270,465 Stockholders’ Equity: Common stock — 1,452 — — 1,452 Additional paid-in capital 3,626,564 3,676,000 1,309 (3,630,745 ) 3,673,128 Retained/(cumulative distributions in excess of) earnings 911,411 (3,833,873 ) 1,243,643 97,956 (1,580,863 ) Other comprehensive income 2,104 — — — 2,104 Piedmont stockholders’ equity 4,540,079 (156,421 ) 1,244,952 (3,532,789 ) 2,095,821 Noncontrolling interest — — 1,882 — 1,882 Total stockholders’ equity 4,540,079 (156,421 ) 1,246,834 (3,532,789 ) 2,097,703 Total liabilities and stockholders’ equity $ 6,981,092 $ 4,946,330 $ 4,038,139 $ (11,597,393 ) $ 4,368,168 Condensed Consolidated Statements of Income For the three months ended June 30, 2017 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Rental income $ 11,092 $ — $ 113,641 $ (485 ) $ 124,248 Tenant reimbursements 2,964 — 21,207 (127 ) 24,044 Property management fee revenue — — 4,577 (4,190 ) 387 14,056 — 139,425 (4,802 ) 148,679 Expenses: Property operating costs 5,853 — 54,728 (4,802 ) 55,779 Depreciation 3,281 — 26,778 — 30,059 Amortization 803 — 18,511 — 19,314 General and administrative 1,528 81 6,427 — 8,036 11,465 81 106,444 (4,802 ) 113,188 Real estate operating income/(loss) 2,591 (81 ) 32,981 — 35,491 Other income (expense): Interest expense (14,810 ) — (7,262 ) 3,651 (18,421 ) Other income/(expense) 2,240 — 1,449 (3,651 ) 38 Equity in income of unconsolidated joint ventures 107 — — — 107 (12,463 ) — (5,813 ) — (18,276 ) Income/(loss) from continuing operations (9,872 ) (81 ) 27,168 — 17,215 Discontinued operations: Operating income — — — — — Income from discontinued operations — — — — — Gain/(loss) on sale of real estate assets, net 6,495 — (3 ) — 6,492 Net income/(loss) (3,377 ) (81 ) 27,165 — 23,707 Less: Net loss applicable to noncontrolling interest — — 3 — 3 Net income/(loss) applicable to Piedmont $ (3,377 ) $ (81 ) $ 27,168 $ — $ 23,710 Condensed Consolidated Statements of Income For the three months ended June 30, 2016 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Rental income $ 14,661 $ — $ 97,860 $ (754 ) $ 111,767 Tenant reimbursements 3,753 — 19,409 (76 ) 23,086 Property management fee revenue — — 4,178 (3,724 ) 454 18,414 — 121,447 (4,554 ) 135,307 Expenses: Property operating costs 8,319 — 48,568 (4,595 ) 52,292 Depreciation 4,476 — 27,080 — 31,556 Amortization 941 — 16,461 — 17,402 Impairment loss on real estate assets 8,258 — 2,692 — 10,950 General and administrative 8,107 92 10,213 (10,096 ) 8,316 30,101 92 105,014 (14,691 ) 120,516 Real estate operating income/(loss) (11,687 ) (92 ) 16,433 10,137 14,791 Other income (expense): Interest expense (12,170 ) — (6,666 ) 2,423 (16,413 ) Other income/(expense) 1,735 282 365 (2,423 ) (41 ) Equity in income of unconsolidated joint ventures 110 — — — 110 (10,325 ) 282 (6,301 ) — (16,344 ) Income/(loss) from continuing operations (22,012 ) 190 10,132 10,137 (1,553 ) Discontinued operations: Operating loss — — (1 ) — (1 ) Loss from discontinued operations — — (1 ) — (1 ) Gain on sale of real estate assets, net 29,966 — 43,869 — 73,835 Net income 7,954 190 54,000 10,137 72,281 Less: Net income applicable to noncontrolling interest — — (3 ) — (3 ) Net income applicable to Piedmont $ 7,954 $ 190 $ 53,997 $ 10,137 $ 72,278 Condensed Consolidated Statements of Income For the six months ended June 30, 2017 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Rental income $ 22,517 $ — $ 226,125 $ (944 ) $ 247,698 Tenant reimbursements 5,964 — 42,810 (230 ) 48,544 Property management fee revenue — — 9,201 (8,301 ) 900 28,481 — 278,136 (9,475 ) 297,142 Expenses: Property operating costs 11,655 — 108,983 (9,475 ) 111,163 Depreciation 6,744 — 54,083 — 60,827 Amortization 1,659 — 38,070 — 39,729 General and administrative 3,231 183 13,218 — 16,632 23,289 183 214,354 (9,475 ) 228,351 Real estate operating income/(loss) 5,192 (183 ) 63,782 — 68,791 Other income (expense): Interest expense (29,254 ) — (14,514 ) 7,290 (36,478 ) Other income/(expense) 4,469 — 2,759 (7,290 ) (62 ) Equity in income of unconsolidated joint ventures 118 — — — 118 (24,667 ) — (11,755 ) — (36,422 ) Income/(loss) from continuing operations (19,475 ) (183 ) 52,027 — 32,369 Discontinued operations: Operating income — — — — — Income from discontinued operations — — — — — Gain on sale of real estate assets, net 6,434 — 5 — 6,439 Net income/(loss) (13,041 ) (183 ) 52,032 — 38,808 Less: Net loss applicable to noncontrolling interest — — 6 — 6 Net income/(loss) applicable to Piedmont $ (13,041 ) $ (183 ) $ 52,038 $ — $ 38,814 Condensed Consolidated Statements of Income For the six months ended June 30, 2016 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Rental income $ 30,127 $ — $ 197,896 $ (1,518 ) $ 226,505 Tenant reimbursements 7,026 — 38,980 (169 ) 45,837 Property management fee revenue — — 8,495 (7,518 ) 977 37,153 — 245,371 (9,205 ) 273,319 Expenses: Property operating costs 16,762 — 99,083 (9,274 ) 106,571 Depreciation 9,376 — 53,962 — 63,338 Amortization 1,991 — 33,217 — 35,208 Impairment loss of real estate assets 8,259 — 2,691 — 10,950 General and administrative 15,615 168 19,864 (19,558 ) 16,089 52,003 168 208,817 (28,832 ) 232,156 Real estate operating income/(loss) (14,850 ) (168 ) 36,554 19,627 41,163 Other income (expense): Interest expense (24,360 ) — (13,404 ) 4,966 (32,798 ) Other income/(expense) 4,400 282 537 (4,966 ) 253 Equity in income of unconsolidated joint ventures 225 — — — 225 (19,735 ) 282 (12,867 ) — (32,320 ) Net income/(loss) (34,585 ) 114 23,687 19,627 8,843 Discontinued operations: Operating loss — — (1 ) — (1 ) Loss from discontinued operations — — (1 ) — (1 ) Gain on sale of real estate assets, net 29,962 — 43,853 — 73,815 Net income/(loss) (4,623 ) 114 67,539 19,627 82,657 Less: Net income applicable to noncontrolling interest — — (7 ) — (7 ) Net income/(loss) applicable to Piedmont $ (4,623 ) $ 114 $ 67,532 $ 19,627 $ 82,650 Condensed Consolidated Statements of Cash Flows For the six months ended June 30, 2017 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Net Cash Provided by/(Used in) Operating Activities $ (10,028 ) $ 3,091 $ 118,599 $ — $ 111,662 Cash Flows from Investing Activities: Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals (757 ) — (57,563 ) — (58,320 ) Net sales proceeds from wholly-owned properties 23,032 — (9 ) — 23,023 Investments in unconsolidated joint ventures (284 ) — — — (284 ) Deferred lease costs paid (736 ) — (8,827 ) — (9,563 ) Net cash provided by/(used in) investing activities 21,255 — (66,399 ) — (45,144 ) Cash Flows from Financing Activities: Debt issuance costs paid (102 ) — — — (102 ) Proceeds from debt 147,000 — — — 147,000 Repayments of debt (115,000 ) — (694 ) — (115,694 ) Costs of issuance of common stock — (74 ) — — (74 ) Shares withheld to pay tax obligations related to employee stock compensation — (3,380 ) — — (3,380 ) (Distributions to)/repayments from affiliates (41,618 ) 92,020 (50,402 ) — — Dividends paid and discount on dividend reinvestments — (91,657 ) (7 ) — (91,664 ) Net cash used in financing activities (9,720 ) (3,091 ) (51,103 ) — (63,914 ) Net increase in cash and cash equivalents 1,507 — 1,097 — 2,604 Cash and cash equivalents, beginning of period 3,674 150 3,168 — 6,992 Cash and cash equivalents, end of period $ 5,181 $ 150 $ 4,265 $ — $ 9,596 Condensed Consolidated Statements of Cash Flows For the six months ended June 30, 2016 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Net Cash Provided by/(Used in) Operating Activities $ (14,105 ) $ 3,075 $ 94,146 $ 19,628 $ 102,744 Cash Flows from Investing Activities: Investment in real estate assets and real estate related intangibles, net of accruals (13,062 ) — (51,360 ) — (64,422 ) Intercompany note receivable — — 9,600 (9,600 ) — Net sales proceeds from wholly-owned properties 108,550 — 93,140 — 201,690 Deferred lease costs paid (1,712 ) — (4,554 ) — (6,266 ) Net cash provided by/(used in) investing activities 93,776 — 46,826 (9,600 ) 131,002 Cash Flows from Financing Activities: Debt issuance costs paid (138 ) — — — (138 ) Proceeds from debt 211,000 — — — 211,000 Repayments of debt (232,000 ) — (125,597 ) — (357,597 ) Intercompany note payable (9,600 ) — — 9,600 — Costs of issuance of common stock — (42 ) — — (42 ) Shares withheld to pay tax obligations related to employee stock compensation — (2,283 ) — — (2,283 ) Repurchases of common stock as part of announced plan — (7,943 ) — — (7,943 ) (Distributions to)/repayments from affiliates (34,837 ) 68,259 (13,794 ) (19,628 ) — Dividends paid and discount on dividend reinvestments — (61,066 ) (9 ) — (61,075 ) Net cash used in financing activities (65,575 ) (3,075 ) (139,400 ) (10,028 ) (218,078 ) Net increase in cash and cash equivalents 14,096 — 1,572 — 15,668 Cash and cash equivalents, beginning of period 2,174 150 3,117 — 5,441 Cash and cash equivalents, end of period $ 16,270 $ 150 $ 4,689 $ — $ 21,109

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Third Quarter Dividend Declaration On August 1, 2017 , the Board of Directors of Piedmont declared dividends for the third quarter 2017 in the amount of $0.21 per common share outstanding to stockholders of record as of the close of business on August 25, 2017 . Such dividends are to be paid on September 15, 2017 . Dispositions On July 5, 2017, Piedmont sold the Two Independence Square building, located at 300 E Street, S.W. in Washington. D.C., for approximately $360 million , or $593 per square foot. The 606,000 square foot, 9 -story, office building is 100% leased and has served as the headquarters for the National Aeronautics and Space Administration since its construction. On July 27, 2017, Piedmont sold the 8560 Upland Drive building in Englewood, Colorado. The building was the last property owned in the unconsolidated joint venture (Fund XIII and REIT Joint Venture). Piedmont's share of the purchase price was approximately $12.7 million .

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	The consolidated financial statements of Piedmont have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Article 10 of Regulation S-X, and do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair presentation of the results for such periods. Results for these interim periods are not necessarily indicative of a full year’s results.
Principles of Consolidation	Piedmont’s consolidated financial statements include the accounts of Piedmont, Piedmont’s wholly-owned subsidiaries, any variable interest entity ("VIE") for which Piedmont or any of its wholly-owned subsidiaries is considered to have the power to direct the activities of the entity and the obligation to absorb losses/right to receive benefits, or any entity in which Piedmont or any of its wholly-owned subsidiaries owns a controlling interest. In determining whether Piedmont or Piedmont OP has a controlling interest, the following factors, among others, are considered: equity ownership, voting rights, protective rights of investors, and participatory rights of investors. For further information, refer to the financial statements and footnotes included in Piedmont’s Amended Annual Report on Form 10-K/A for the year ended December 31, 2016. All intercompany balances and transactions have been eliminated upon consolidation. Further, Piedmont has formed special purpose entities to acquire and hold real estate. Each special purpose entity is a separate legal entity. Consequently, the assets of these special purpose entities are not available to all creditors of Piedmont. The assets owned by these special purpose entities are being reported on a consolidated basis with Piedmont’s assets for financial reporting purposes only.
Use of Estimates	Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from those estimates.
Income Taxes	Income Taxes Piedmont has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, and has operated as such, beginning with its taxable year ended December 31, 1998. To qualify as a REIT, Piedmont must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income. As a REIT, Piedmont is generally not subject to federal income taxes, subject to fulfilling, among other things, this distribution requirement. Piedmont is subject to certain taxes related to the operations of properties in certain locations, as well as operations conducted by its taxable REIT subsidiary, POH, which have been provided for in the financial statements.
Reclassifications	Reclassifications Certain prior period amounts presented in Piedmont's Amended Annual Report on Form 10-K/A for the year ended December 31, 2016 have been reclassified to conform to the current period financial statement presentation. The reclassifications relate to the Two Independence Square building, located in Washington, D.C., which was first classified as held for sale as of March 31, 2017, and continues to be presented as held for sale as of June 30, 2017. Applicable balances related to the same asset have been reclassified as held for sale as of December 31, 2016.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Financial Accounting Standards Board (the "FASB") has issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") and Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606) Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ("ASU 2016-08"). The amendments in ASU 2014-09, which are further clarified in ASU 2016-08, as well as Accounting Standards Update 2016-10, Accounting Standards Update 2016-12, and Accounting Standards Update 2016-20 (collectively the "Revenue Recognition Amendments"), change the criteria for the recognition of certain revenue streams to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services using a five-step determination process. Steps 1 through 5 involve (i) identifying contracts with a customer, (ii) identifying the performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the performance obligations, and (v) recognizing revenue as an entity satisfies a performance obligation. The revenues impacted by the Revenue Recognition Amendments include a portion of Piedmont's tenant reimbursement revenues and property management fee revenues. Lease contracts and reimbursement revenues associated with property taxes and insurance are specifically excluded from the Revenue Recognition Amendments. The Revenue Recognition Amendments are effective in the first quarter of 2018 for Piedmont. Management has substantially completed its initial assessment of the impact of adoption of the Revenue Recognition Amendments. Approximately 90% of Piedmont's total revenues are derived from either long-term leases with its tenants or reimbursement of property tax and insurance expenses, which are excluded from the scope of the Revenue Recognition Amendments. In addition, based on management's assessment to date, Piedmont does not expect the timing of the recognition of reimbursement revenue and revenue from management agreements to change as a result of the new guidance, though certain classifications will change between rental revenue and tenant reimbursements. Finally, management has determined, and the FASB has confirmed, that the evaluation of non-lease components under the new Revenue Recognition Amendments will not be effective until Accounting Standards Update No. 2016-02, Leases (Topic 842), ("ASU 2016-02") becomes effective (see further discussion below), which will be first quarter of 2019 for Piedmont. As a result, although management continues to evaluate the guidance and disclosures required by the Revenue Recognition Amendments, Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets ("ASU 2017-05"). The provisions of ASU 2017-05 define the term "in substance nonfinancial asset" as a financial asset promised to a counterparty in a contract if substantially all of the fair value of the assets (recognized and unrecognized) is concentrated in nonfinancial assets. Further, it states that nonfinancial assets should be derecognized once the counterparty obtains control. Finally, the amendments provide clarification for partial sales of nonfinancial assets. ASU 2017-05 is effective concurrent with the Revenue Recognition Amendments (detailed above), which will be the first quarter of 2018 for Piedmont. Although management continues to evaluate the guidance and disclosures required by ASU 2017-05, Piedmont does not anticipate a material change in how it recognizes the disposition of real estate in its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). The amendments in ASU 2016-01 require equity investments, except those accounted for under the equity method of accounting, to be measured at estimated fair value with changes in fair value recognized in net income. Additionally, ASU 2016-01 simplifies the impairment assessment of equity investments, and eliminates certain disclosure requirements. The amendments in ASU 2016-01 are effective in the first quarter of 2018, and Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (a consensus of the FASB Emerging Issues Task Force) ("ASU 2016-18"). The provisions of ASU 2016-18 require entities to show changes in restricted cash and cash equivalents in addition to cash and cash equivalents in the statement of cash flows. As a result, entities will no longer present transfers between restricted and unrestricted cash in the statement of cash flows. Disclosures are required to reconcile the amount presented on the statement of cash flows to the balance sheet, as well as disclosing the nature of restriction on the restricted cash balances. ASU 2016-18 is effective for Piedmont in the first quarter of 2018, with early adoption permitted. Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued ASU 2016-02, which fundamentally changes the definition of a lease, as well as the accounting for operating leases by requiring lessees to recognize assets and liabilities which arise from the lease, consisting of a liability to make lease payments (the lease liability) and a right-of-use asset, representing the right to use the leased asset over the term of the lease. Accounting for leases by lessors is substantially unchanged from prior practice as lessors will continue to recognize lease revenue on a straight-line basis; however, ASU 2016-02 defines certain tenant reimbursements as non-lease components which will be subject to the guidance under ASU 2014-09. The amendments in ASU 2016-02 are effective in the first quarter of 2019, and Piedmont is currently evaluating the potential impact of adoption. The FASB has issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). The provisions of ASU 2016-13 replace the "incurred loss" approach with an "expected loss" model for impairing trade and other receivables, held-to-maturity debt securities, net investment in leases, and off-balance-sheet credit exposures, which will generally result in earlier recognition of allowances for credit losses. Additionally, the provisions change the classification of credit losses related to available-for-sale securities to an allowance, rather than a direct reduction of the amortized cost of the securities. ASU 2016-13 is effective in the first quarter of 2020, with early adoption permitted as of January 1, 2019. Piedmont is currently evaluating the potential impact of adoption. The FASB has issued Accounting Standards Update No. 2017-04, Intangibles—Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). The provisions of ASU 2017-04 simplify how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test, which is generally performed annually unless events or circumstances arise which would necessitate evaluating the carrying value for impairment in the interim. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a entity’s goodwill with the carrying amount of that goodwill by determining the fair value of its assets and liabilities (including unrecognized assets and liabilities) following the procedures that would be required in a business combination. Under the provisions of ASU 2017-04, an entity would instead recognize an impairment charge for the amount by which the carrying amount exceeds the entity’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that entity. ASU 2017-04 is effective in the first quarter of 2020, with early adoption permitted as of the first interim or annual impairment test of goodwill after January 1, 2017. Piedmont is currently evaluating the potential impact of adoption.
Risk Management Objective of Using Derivatives	Risk Management Objective of Using Derivatives In addition to operational risks which arise in the normal course of business, Piedmont is exposed to economic risks such as interest rate, liquidity, and credit risk. In certain situations, Piedmont has entered into derivative financial instruments such as interest rate swap agreements and other similar agreements to manage interest rate risk exposure arising from current or future variable rate debt transactions. Interest rate swap agreements involve the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Piedmont’s objective in using interest rate derivatives is to add stability to interest expense and to manage its exposure to interest rate movements.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the terms of Piedmont’s indebtedness outstanding as of June 30, 2017 and December 31, 2016 (in thousands): Facility (1) Stated Rate Effective Rate (2) Maturity Amount Outstanding as of June 30, 2017 December 31, 2016 Secured (Fixed) $140 Million WDC Fixed-Rate Loans (3) 5.76 % 5.76 % 11/1/2017 $ 140,000 (4) $ 140,000 $35 Million Fixed-Rate Loan (5) 5.55 % 3.75 % 9/1/2021 31,133 31,583 $160 Million Fixed-Rate Loan (6) 3.48 % 3.58 % 7/5/2022 160,000 160,000 Net premium and unamortized debt issuance costs 1,063 1,161 Subtotal/Weighted Average (7) 4.64 % 332,196 332,744 Unsecured (Variable and Fixed) $170 Million Unsecured 2015 Term Loan (8) LIBOR + 1.125% 2.29 % 5/15/2018 170,000 170,000 $300 Million Unsecured 2013 Term Loan LIBOR + 1.20% 2.78 % 1/31/2019 300,000 300,000 $500 Million Unsecured 2015 Line of Credit (8) LIBOR + 1.00% 2.14 % 6/18/2019 (9) 210,000 (10) 178,000 $300 Million Unsecured 2011 Term Loan LIBOR + 1.15% 3.35 % 1/15/2020 300,000 300,000 $350 Million Senior Notes 3.40 % 3.43 % 6/01/2023 350,000 350,000 $400 Million Senior Notes 4.45 % 4.10 % 3/15/2024 400,000 400,000 Discounts and unamortized debt issuance costs (9,014) (10,269) Subtotal/Weighted Average (7) 3.26 % 1,720,986 1,687,731 Total/Weighted Average (7) 3.48 % $ 2,053,182 $ 2,020,475 (1) Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of June 30, 2017 and December 31, 2016 is interest-only. (2) Effective rate after consideration of settled or in place interest rate swap agreements and/or issuance premiums or discounts. (3) Collateralized by the 1201 and 1225 Eye Street buildings in Washington, D.C. (4) On August 1, 2017, Piedmont fully repaid the $140 Million WDC Fixed-Rate Loans without penalty using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13 ). (5) Collateralized by the 5 Wall Street building in Burlington, Massachusetts. (6) Collateralized by the 1901 Market Street building in Philadelphia, Pennsylvania. (7) Weighted average is based on contractual balance of outstanding debt and the stated or effectively fixed interest rates in the table as of June 30, 2017 . (8) On a periodic basis, Piedmont may select from multiple interest rate options, including the prime rate and various-length LIBOR locks. All LIBOR selections are subject to an additional spread over the selected rate based on Piedmont’s current credit rating. (9) Piedmont may extend the term for up to one additional year (through two available six month extensions to a final extended maturity date of June 18, 2020) provided Piedmont is not then in default and upon payment of extension fees. (10) On July 5, 2017, Piedmont repaid the outstanding balance of the $500 Million Unsecured 2015 Line of Credit, using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13 ).

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	A summary of Piedmont’s interests in, and consolidation treatment of, its VIEs and their related carrying values as of June 30, 2017 and December 31, 2016 is as follows (net carrying amount in millions): Entity Piedmont’s % Ownership of Entity Related Building Consolidated/ Unconsolidated Net Carrying Amount as of June 30, 2017 Net Carrying Amount as of December 31, 2016 Primary Beneficiary Considerations 1201 Eye Street N.W. Associates, LLC 49.5% 1201 Eye Street Consolidated $ (0.9 ) $ (6.7 ) In accordance with the partnership’s governing documents, Piedmont is entitled to 100% of the cash flow of the entity and has sole discretion in directing the management and leasing activities of the building. 1225 Eye Street N.W. Associates, LLC 49.5% 1225 Eye Street Consolidated $ 8.8 $ 9.9 In accordance with the partnership’s governing documents, Piedmont is entitled to 100% of the cash flow of the entity and has sole discretion in directing the management and leasing activities of the building. Piedmont 500 W. Monroe Fee, LLC 100% 500 W. Monroe Consolidated $ 267.6 $ 262.4 The Omnibus Agreement with the previous owner includes equity participation rights for the previous owner, if certain financial returns are achieved; however, Piedmont has sole decision making authority and is entitled to 100% of the economic benefits of the property until such returns are met.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	A detail of Piedmont’s interest rate derivatives outstanding as of June 30, 2017 is as follows: Interest Rate Derivatives: Number of Swap Agreements Associated Debt Instrument Total Notional Amount (in millions) Effective Date Maturity Date Interest rate swaps 4 $300 Million Unsecured 2013 Term Loan $ 200 1/30/2014 1/31/2019 Interest rate swaps 2 $300 Million Unsecured 2013 Term Loan 100 8/29/2014 1/31/2019 Interest rate swaps 3 $300 Million Unsecured 2011 Term Loan 300 11/22/2016 1/15/2020 Total $ 600
Schedule of Interest Rate Derivatives	A detail of Piedmont’s interest rate derivatives on a gross and net basis as of June 30, 2017 and December 31, 2016 , respectively, is as follows (in thousands): Interest rate swaps classified as: June 30, December 31, Gross derivative assets $ — $ — Gross derivative liabilities 5,061 8,169 Net derivative liability $ 5,061 $ 8,169
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The effective portion of Piedmont's interest rate derivatives, including the gain/(loss) on previously settled forward swaps, that was recorded in the accompanying consolidated statements of income for the three and six months ended June 30, 2017 and 2016 , respectively, was as follows (in thousands): Three Months Ended Six Months Ended Interest Rate Swaps in Cash Flow Hedging Relationships June 30, June 30, June 30, June 30, Amount of gain/(loss) recognized in OCI $ (911 ) $ (4,068 ) $ 132 $ (15,029 ) Amount of previously recorded loss reclassified from accumulated OCI into interest expense $ 977 $ 1,113 $ 2,283 $ 2,246

Fair Value Measurement of Fin26

Fair Value Measurement of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 , respectively (in thousands): June 30, 2017 December 31, 2016 Financial Instrument Carrying Value Estimated Fair Value Level Within Fair Value Hierarchy Carrying Value Estimated Fair Value Level Within Fair Value Hierarchy Assets: Cash and cash equivalents (1) $ 9,596 $ 9,596 Level 1 $ 6,992 $ 6,992 Level 1 Tenant receivables, net (1) $ 24,269 $ 24,269 Level 1 $ 26,494 $ 26,494 Level 1 Restricted cash and escrows (1) $ 1,290 $ 1,290 Level 1 $ 1,212 $ 1,212 Level 1 Liabilities: Accounts payable and accrued expenses (1) $ 12,935 $ 12,935 Level 1 $ 44,733 $ 44,733 Level 1 Interest rate swap $ 5,061 $ 5,061 Level 2 $ 8,169 $ 8,169 Level 2 Debt, net $ 2,053,182 $ 2,081,120 Level 2 $ 2,020,475 $ 2,027,436 Level 2 (1) For the periods presented, the carrying value of these financial instruments approximates estimated fair value due to their short-term maturity.

Impairment Loss on Real Estat27

Impairment Loss on Real Estate Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
Details of Impairment of Long-Lived Assets Held and Used by Asset	Piedmont recorded impairment loss on real estate assets for the three and six months ended June 30, 2017 and 2016 , respectively, as follows (in thousands): Three Months Ended Six Months Ended 2017 2016 2017 2016 150 West Jefferson (1) $ — $ 8,259 $ — $ 8,259 9221 Corporate Boulevard (2) — 2,691 — 2,691 Total impairment loss on real estate assets (3) $ — $ 10,950 $ — $ 10,950 (1) Piedmont recognized an impairment loss on real estate assets based upon the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs. (2) Piedmont, using a probability-weighted model heavily weighted towards the short-term sale of the 9221 Corporate Boulevard building in Rockville, Maryland, determined that the carrying value would not be recovered from the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. As a result, Piedmont recognized a loss on impairment of approximately $2.7 million during the six months ended June 30, 2016 calculated as the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs. (3) The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers. Details of assets held for sale as of June 30, 2017 and December 31, 2016 are presented below (in thousands): June 30, 2017 December 31, 2016 Real estate assets held for sale, net: Land $ 52,710 $ 52,710 Building and improvements, less accumulated depreciation of $89,187 and $88,319 as of June 30, 2017 and December 31, 2016, respectively 172,350 173,218 Construction in progress 11 11 Total real estate assets held for sale, net $ 225,071 $ 225,939 Other assets held for sale, net: Straight-line rent receivables $ 2,225 $ 2,059 Prepaid expenses and other assets 762 454 Deferred lease costs, less accumulated amortization of $2,892 and $2,825 as of June 30, 2017 and December 31, 2016, respectively 7,235 7,302 Total other assets held for sale, net $ 10,222 $ 9,815

Property Dispositions, Assets28

Property Dispositions, Assets Held for Sale, and Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures	Details of such properties sold are presented below (in thousands): Buildings Sold (1) Location Date of Sale Gain/(Loss) on Sale Net Sales Proceeds 1055 East Colorado Boulevard Pasadena, California April 21, 2016 $ 29,462 $ 60,076 Fairway Center II Brea, California April 28, 2016 $ 14,406 $ 33,062 1901 Main Street Irvine, California May 2, 2016 $ 29,964 $ 63,149 Sarasota Commerce Center II Sarasota, Florida June 16, 2017 $ 6,497 $ 23,094 Details comprising loss from discontinued operations activity for the three and six months ended ended June 30, 2017 and 2016 are presented below (in thousands): Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Revenues: Rental income $ — $ — $ — $ — Tenant reimbursements — — — — — — — — Expenses: Property operating costs — — — — General and administrative — 1 — 1 — 1 — 1 Operating income — (1 ) — (1 ) Loss on sale of real estate assets — — — — Income from discontinued operations $ — $ (1 ) $ — $ (1 )
Details of Impairment of Long-Lived Assets Held and Used by Asset	Piedmont recorded impairment loss on real estate assets for the three and six months ended June 30, 2017 and 2016 , respectively, as follows (in thousands): Three Months Ended Six Months Ended 2017 2016 2017 2016 150 West Jefferson (1) $ — $ 8,259 $ — $ 8,259 9221 Corporate Boulevard (2) — 2,691 — 2,691 Total impairment loss on real estate assets (3) $ — $ 10,950 $ — $ 10,950 (1) Piedmont recognized an impairment loss on real estate assets based upon the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs. (2) Piedmont, using a probability-weighted model heavily weighted towards the short-term sale of the 9221 Corporate Boulevard building in Rockville, Maryland, determined that the carrying value would not be recovered from the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. As a result, Piedmont recognized a loss on impairment of approximately $2.7 million during the six months ended June 30, 2016 calculated as the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs. (3) The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers. Details of assets held for sale as of June 30, 2017 and December 31, 2016 are presented below (in thousands): June 30, 2017 December 31, 2016 Real estate assets held for sale, net: Land $ 52,710 $ 52,710 Building and improvements, less accumulated depreciation of $89,187 and $88,319 as of June 30, 2017 and December 31, 2016, respectively 172,350 173,218 Construction in progress 11 11 Total real estate assets held for sale, net $ 225,071 $ 225,939 Other assets held for sale, net: Straight-line rent receivables $ 2,225 $ 2,059 Prepaid expenses and other assets 762 454 Deferred lease costs, less accumulated amortization of $2,892 and $2,825 as of June 30, 2017 and December 31, 2016, respectively 7,235 7,302 Total other assets held for sale, net $ 10,222 $ 9,815

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Nonvested Share Activity	A rollforward of Piedmont's equity based award activity for the six months ended June 30, 2017 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested Stock Awards as of December 31, 2016 944,223 $ 19.44 Deferred Stock Awards Granted 299,251 $ 21.38 Increase in Estimated Potential Future Performance Share Awards, net of forfeitures 150,537 $ 28.37 Performance Stock Awards Vested (118,446 ) $ 22.00 Deferred Stock Awards Vested (301,921 ) $ 19.35 Deferred Stock Awards Forfeited (4,761 ) $ 19.57 Unvested Stock Awards as of June 30, 2017 968,883 $ 21.94 The following table provides additional information regarding stock award activity during the three and six months ended June 30, 2017 and 2016 , respectively (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Weighted-Average Grant Date Fair Value of Deferred Stock Granted During the Period $ 21.38 $ 19.96 $ 21.38 $ 19.96 Total Grant Date Fair Value of Deferred Stock Vested During the Period $ 5,551 $ 4,319 $ 5,841 $ 4,659 Share-based Liability Awards Paid During the Period (1) $ — $ — $ 2,877 $ 1,127 (1) Amounts reflect the issuance of performance share awards related to the 2014-16 and 2013-15 Performance Share Plans during the six months ended June 30, 2017 and 2016, respectively.
Schedule of Outstanding Employee Stock Awards	A detail of Piedmont’s outstanding stock awards as of June 30, 2017 is as follows: Date of grant Type of Award Net Shares Granted (1) Grant Date Fair Value Vesting Schedule Unvested Shares as of June 30, 2017 January 3, 2014 Deferred Stock Award 86,769 $ 16.56 Of the shares granted, 20% vested or will vest on January 3, 2015, 2016, 2017, 2018, and 2019, respectively. 35,094 May 1, 2015 Deferred Stock Award 216,919 $ 17.59 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 1, 2016, 2017, and 2018, respectively. 67,747 May 1, 2015 Fiscal Year 2015-2017 Performance Share Program — $ 18.42 Shares awarded, if any, will vest immediately upon determination of award in 2018. 229,828 (2) May 24, 2016 Deferred Stock Award 233,073 $ 19.91 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 24, 2017, 2018, and 2019, respectively. 134,117 May 24, 2016 Fiscal Year 2016-2018 Performance Share Program — $ 23.02 Shares awarded, if any, will vest immediately upon determination of award in 2019. 85,792 (2) May 18, 2017 Deferred Stock Award-Board of Directors 26,187 $ 21.38 Of the shares granted, 100% will vest by May 18, 2018. 26,187 May 18, 2017 Deferred Stock Award 246,808 $ 21.38 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 18, 2018, 2019, and 2020, respectively. 202,233 May 18, 2017 Fiscal Year 2017-2019 Performance Share Program — $ 30.45 Shares awarded, if any, will vest immediately upon determination of award in 2020. 187,885 (2) Total 968,883 (1) Amounts reflect the total grant to employees and independent directors, net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations through June 30, 2017 . (2) Estimated based on Piedmont's cumulative TSR for the respective performance period through June 30, 2017 . Share estimates are subject to change in future periods based on both Piedmont's and its peers' stock performance and dividends paid.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	The following table reconciles the denominator for the basic and diluted earnings per share computations shown on the consolidated statements of income for the three and six months ended June 30, 2017 and 2016 , respectively (in thousands): Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Weighted-average common shares – basic 145,413 145,179 145,350 145,228 Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards 400 520 430 537 Weighted-average common shares – diluted 145,813 145,699 145,780 145,765 Common stock issued and outstanding as of period end 145,490 145,230

Guarantor and Non-Guarantor F31

Guarantor and Non-Guarantor Financial Information (Tables)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidated Balance Sheets	Condensed Consolidated Balance Sheets As of June 30, 2017 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Assets: Real estate assets, at cost: Land $ 43,929 $ — $ 571,005 $ — $ 614,934 Buildings and improvements, less accumulated depreciation 209,091 — 2,533,536 (300 ) 2,742,327 Intangible lease assets, less accumulated amortization 453 — 84,536 — 84,989 Construction in progress 572 — 15,079 — 15,651 Real estate assets held for sale, net — — 225,071 — 225,071 Total real estate assets 254,045 — 3,429,227 (300 ) 3,682,972 Investments in and amounts due from unconsolidated joint ventures 7,762 — — — 7,762 Cash and cash equivalents 5,181 150 4,265 — 9,596 Tenant and straight-line rent receivables, net 17,266 — 184,466 — 201,732 Advances to affiliates 6,465,350 1,316,446 — (7,781,796 ) — Investment in subsidiary — 3,569,494 178 (3,569,672 ) — Notes receivable 88,910 — 95,790 (184,700 ) — Prepaid expenses, restricted cash, escrows, and other assets 5,007 76 26,752 (1,091 ) 30,744 Goodwill 98,918 — — — 98,918 Deferred lease costs, net 14,500 — 263,866 — 278,366 Other assets held for sale, net — — 10,222 — 10,222 Total assets $ 6,956,939 $ 4,886,166 $ 4,014,766 $ (11,537,559 ) $ 4,320,312 Liabilities: Debt, net $ 1,735,196 $ — $ 502,686 $ (184,700 ) $ 2,053,182 Accounts payable, accrued expenses, and accrued capital expenditures 16,328 565 95,209 (1,091 ) 111,011 Advances from affiliates 729,007 5,100,839 2,050,205 (7,880,051 ) — Deferred income 2,934 — 24,482 — 27,416 Intangible lease liabilities, net — — 43,328 — 43,328 Interest rate swaps 5,061 — — — 5,061 Total liabilities 2,488,526 5,101,404 2,715,910 (8,065,842 ) 2,239,998 Stockholders’ Equity: Common stock — 1,455 — — 1,455 Additional paid-in capital 3,565,494 3,678,434 1,306 (3,569,672 ) 3,675,562 Retained/(cumulative distributions in excess of) earnings 898,372 (3,895,127 ) 1,295,681 97,955 (1,603,119 ) Other comprehensive loss 4,547 — — — 4,547 Piedmont stockholders’ equity 4,468,413 (215,238 ) 1,296,987 (3,471,717 ) 2,078,445 Noncontrolling interest — — 1,869 — 1,869 Total stockholders’ equity 4,468,413 (215,238 ) 1,298,856 (3,471,717 ) 2,080,314 Total liabilities and stockholders’ equity $ 6,956,939 $ 4,886,166 $ 4,014,766 $ (11,537,559 ) $ 4,320,312 Condensed Consolidated Balance Sheets As of December 31, 2016 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Assets: Real estate assets, at cost: Land $ 46,133 $ — $ 571,005 $ — $ 617,138 Buildings and improvements, less accumulated depreciation 228,194 — 2,526,212 (300 ) 2,754,106 Intangible lease assets, less accumulated amortization 725 — 98,970 — 99,695 Construction in progress 145 — 34,669 — 34,814 Real estate assets held for sale, net — — 225,939 — 225,939 Total real estate assets 275,197 — 3,456,795 (300 ) 3,731,692 Investments in and amounts due from unconsolidated joint ventures 7,360 — — — 7,360 Cash and cash equivalents 3,674 150 3,168 — 6,992 Tenant and straight-line rent receivables, net 20,159 — 170,124 — 190,283 Advances to affiliates 6,464,135 1,315,616 — (7,779,751 ) — Investment in subsidiary — 3,630,564 181 (3,630,745 ) — Notes receivable 88,910 — 95,790 (184,700 ) — Prepaid expenses, restricted cash, escrows, and other assets 6,189 — 20,121 (1,897 ) 24,413 Goodwill 98,918 — — — 98,918 Deferred lease costs, net 16,550 — 282,145 — 298,695 Other assets held for sale, net — — 9,815 — 9,815 Total assets $ 6,981,092 $ 4,946,330 $ 4,038,139 $ (11,597,393 ) $ 4,368,168 Liabilities: Debt, net $ 1,701,933 $ — $ 503,242 $ (184,700 ) $ 2,020,475 Accounts payable, accrued expenses, and accrued capital expenditures 17,365 31,230 118,712 (1,897 ) 165,410 Advances from affiliates 708,340 5,071,521 2,098,146 (7,878,007 ) — Deferred income 5,206 — 23,200 — 28,406 Intangible lease liabilities, net — — 48,005 — 48,005 Interest rate swaps 8,169 — — — 8,169 Total liabilities 2,441,013 5,102,751 2,791,305 (8,064,604 ) 2,270,465 Stockholders’ Equity: Common stock — 1,452 — — 1,452 Additional paid-in capital 3,626,564 3,676,000 1,309 (3,630,745 ) 3,673,128 Retained/(cumulative distributions in excess of) earnings 911,411 (3,833,873 ) 1,243,643 97,956 (1,580,863 ) Other comprehensive income 2,104 — — — 2,104 Piedmont stockholders’ equity 4,540,079 (156,421 ) 1,244,952 (3,532,789 ) 2,095,821 Noncontrolling interest — — 1,882 — 1,882 Total stockholders’ equity 4,540,079 (156,421 ) 1,246,834 (3,532,789 ) 2,097,703 Total liabilities and stockholders’ equity $ 6,981,092 $ 4,946,330 $ 4,038,139 $ (11,597,393 ) $ 4,368,168
Condensed Consolidated Statements of Income	Condensed Consolidated Statements of Income For the three months ended June 30, 2017 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Rental income $ 11,092 $ — $ 113,641 $ (485 ) $ 124,248 Tenant reimbursements 2,964 — 21,207 (127 ) 24,044 Property management fee revenue — — 4,577 (4,190 ) 387 14,056 — 139,425 (4,802 ) 148,679 Expenses: Property operating costs 5,853 — 54,728 (4,802 ) 55,779 Depreciation 3,281 — 26,778 — 30,059 Amortization 803 — 18,511 — 19,314 General and administrative 1,528 81 6,427 — 8,036 11,465 81 106,444 (4,802 ) 113,188 Real estate operating income/(loss) 2,591 (81 ) 32,981 — 35,491 Other income (expense): Interest expense (14,810 ) — (7,262 ) 3,651 (18,421 ) Other income/(expense) 2,240 — 1,449 (3,651 ) 38 Equity in income of unconsolidated joint ventures 107 — — — 107 (12,463 ) — (5,813 ) — (18,276 ) Income/(loss) from continuing operations (9,872 ) (81 ) 27,168 — 17,215 Discontinued operations: Operating income — — — — — Income from discontinued operations — — — — — Gain/(loss) on sale of real estate assets, net 6,495 — (3 ) — 6,492 Net income/(loss) (3,377 ) (81 ) 27,165 — 23,707 Less: Net loss applicable to noncontrolling interest — — 3 — 3 Net income/(loss) applicable to Piedmont $ (3,377 ) $ (81 ) $ 27,168 $ — $ 23,710 Condensed Consolidated Statements of Income For the three months ended June 30, 2016 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Rental income $ 14,661 $ — $ 97,860 $ (754 ) $ 111,767 Tenant reimbursements 3,753 — 19,409 (76 ) 23,086 Property management fee revenue — — 4,178 (3,724 ) 454 18,414 — 121,447 (4,554 ) 135,307 Expenses: Property operating costs 8,319 — 48,568 (4,595 ) 52,292 Depreciation 4,476 — 27,080 — 31,556 Amortization 941 — 16,461 — 17,402 Impairment loss on real estate assets 8,258 — 2,692 — 10,950 General and administrative 8,107 92 10,213 (10,096 ) 8,316 30,101 92 105,014 (14,691 ) 120,516 Real estate operating income/(loss) (11,687 ) (92 ) 16,433 10,137 14,791 Other income (expense): Interest expense (12,170 ) — (6,666 ) 2,423 (16,413 ) Other income/(expense) 1,735 282 365 (2,423 ) (41 ) Equity in income of unconsolidated joint ventures 110 — — — 110 (10,325 ) 282 (6,301 ) — (16,344 ) Income/(loss) from continuing operations (22,012 ) 190 10,132 10,137 (1,553 ) Discontinued operations: Operating loss — — (1 ) — (1 ) Loss from discontinued operations — — (1 ) — (1 ) Gain on sale of real estate assets, net 29,966 — 43,869 — 73,835 Net income 7,954 190 54,000 10,137 72,281 Less: Net income applicable to noncontrolling interest — — (3 ) — (3 ) Net income applicable to Piedmont $ 7,954 $ 190 $ 53,997 $ 10,137 $ 72,278 Condensed Consolidated Statements of Income For the six months ended June 30, 2017 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Rental income $ 22,517 $ — $ 226,125 $ (944 ) $ 247,698 Tenant reimbursements 5,964 — 42,810 (230 ) 48,544 Property management fee revenue — — 9,201 (8,301 ) 900 28,481 — 278,136 (9,475 ) 297,142 Expenses: Property operating costs 11,655 — 108,983 (9,475 ) 111,163 Depreciation 6,744 — 54,083 — 60,827 Amortization 1,659 — 38,070 — 39,729 General and administrative 3,231 183 13,218 — 16,632 23,289 183 214,354 (9,475 ) 228,351 Real estate operating income/(loss) 5,192 (183 ) 63,782 — 68,791 Other income (expense): Interest expense (29,254 ) — (14,514 ) 7,290 (36,478 ) Other income/(expense) 4,469 — 2,759 (7,290 ) (62 ) Equity in income of unconsolidated joint ventures 118 — — — 118 (24,667 ) — (11,755 ) — (36,422 ) Income/(loss) from continuing operations (19,475 ) (183 ) 52,027 — 32,369 Discontinued operations: Operating income — — — — — Income from discontinued operations — — — — — Gain on sale of real estate assets, net 6,434 — 5 — 6,439 Net income/(loss) (13,041 ) (183 ) 52,032 — 38,808 Less: Net loss applicable to noncontrolling interest — — 6 — 6 Net income/(loss) applicable to Piedmont $ (13,041 ) $ (183 ) $ 52,038 $ — $ 38,814 Condensed Consolidated Statements of Income For the six months ended June 30, 2016 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Rental income $ 30,127 $ — $ 197,896 $ (1,518 ) $ 226,505 Tenant reimbursements 7,026 — 38,980 (169 ) 45,837 Property management fee revenue — — 8,495 (7,518 ) 977 37,153 — 245,371 (9,205 ) 273,319 Expenses: Property operating costs 16,762 — 99,083 (9,274 ) 106,571 Depreciation 9,376 — 53,962 — 63,338 Amortization 1,991 — 33,217 — 35,208 Impairment loss of real estate assets 8,259 — 2,691 — 10,950 General and administrative 15,615 168 19,864 (19,558 ) 16,089 52,003 168 208,817 (28,832 ) 232,156 Real estate operating income/(loss) (14,850 ) (168 ) 36,554 19,627 41,163 Other income (expense): Interest expense (24,360 ) — (13,404 ) 4,966 (32,798 ) Other income/(expense) 4,400 282 537 (4,966 ) 253 Equity in income of unconsolidated joint ventures 225 — — — 225 (19,735 ) 282 (12,867 ) — (32,320 ) Net income/(loss) (34,585 ) 114 23,687 19,627 8,843 Discontinued operations: Operating loss — — (1 ) — (1 ) Loss from discontinued operations — — (1 ) — (1 ) Gain on sale of real estate assets, net 29,962 — 43,853 — 73,815 Net income/(loss) (4,623 ) 114 67,539 19,627 82,657 Less: Net income applicable to noncontrolling interest — — (7 ) — (7 ) Net income/(loss) applicable to Piedmont $ (4,623 ) $ 114 $ 67,532 $ 19,627 $ 82,650
Condensed Consolidated Statements of Cash Flows	Condensed Consolidated Statements of Cash Flows For the six months ended June 30, 2017 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Net Cash Provided by/(Used in) Operating Activities $ (10,028 ) $ 3,091 $ 118,599 $ — $ 111,662 Cash Flows from Investing Activities: Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals (757 ) — (57,563 ) — (58,320 ) Net sales proceeds from wholly-owned properties 23,032 — (9 ) — 23,023 Investments in unconsolidated joint ventures (284 ) — — — (284 ) Deferred lease costs paid (736 ) — (8,827 ) — (9,563 ) Net cash provided by/(used in) investing activities 21,255 — (66,399 ) — (45,144 ) Cash Flows from Financing Activities: Debt issuance costs paid (102 ) — — — (102 ) Proceeds from debt 147,000 — — — 147,000 Repayments of debt (115,000 ) — (694 ) — (115,694 ) Costs of issuance of common stock — (74 ) — — (74 ) Shares withheld to pay tax obligations related to employee stock compensation — (3,380 ) — — (3,380 ) (Distributions to)/repayments from affiliates (41,618 ) 92,020 (50,402 ) — — Dividends paid and discount on dividend reinvestments — (91,657 ) (7 ) — (91,664 ) Net cash used in financing activities (9,720 ) (3,091 ) (51,103 ) — (63,914 ) Net increase in cash and cash equivalents 1,507 — 1,097 — 2,604 Cash and cash equivalents, beginning of period 3,674 150 3,168 — 6,992 Cash and cash equivalents, end of period $ 5,181 $ 150 $ 4,265 $ — $ 9,596 Condensed Consolidated Statements of Cash Flows For the six months ended June 30, 2016 (in thousands) Issuer Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated Net Cash Provided by/(Used in) Operating Activities $ (14,105 ) $ 3,075 $ 94,146 $ 19,628 $ 102,744 Cash Flows from Investing Activities: Investment in real estate assets and real estate related intangibles, net of accruals (13,062 ) — (51,360 ) — (64,422 ) Intercompany note receivable — — 9,600 (9,600 ) — Net sales proceeds from wholly-owned properties 108,550 — 93,140 — 201,690 Deferred lease costs paid (1,712 ) — (4,554 ) — (6,266 ) Net cash provided by/(used in) investing activities 93,776 — 46,826 (9,600 ) 131,002 Cash Flows from Financing Activities: Debt issuance costs paid (138 ) — — — (138 ) Proceeds from debt 211,000 — — — 211,000 Repayments of debt (232,000 ) — (125,597 ) — (357,597 ) Intercompany note payable (9,600 ) — — 9,600 — Costs of issuance of common stock — (42 ) — — (42 ) Shares withheld to pay tax obligations related to employee stock compensation — (2,283 ) — — (2,283 ) Repurchases of common stock as part of announced plan — (7,943 ) — — (7,943 ) (Distributions to)/repayments from affiliates (34,837 ) 68,259 (13,794 ) (19,628 ) — Dividends paid and discount on dividend reinvestments — (61,066 ) (9 ) — (61,075 ) Net cash used in financing activities (65,575 ) (3,075 ) (139,400 ) (10,028 ) (218,078 ) Net increase in cash and cash equivalents 14,096 — 1,572 — 15,668 Cash and cash equivalents, beginning of period 2,174 150 3,117 — 5,441 Cash and cash equivalents, end of period $ 16,270 $ 150 $ 4,689 $ — $ 21,109

Organization (Details)

Organization (Details) ft² in Millions	6 Months Ended
	Jun. 30, 2017ft²segmentpropertysubsidiarymarket
Real Estate Properties [Line Items]
Number of wholly-owned subsidiaries | subsidiary	2
Percentage ownership by sole general partner	99.90%
Percentage ownership by sole limited partner	0.10%
Percentage of annualized lease revenue	88.00%
Number of operating segments | segment	1
U.S. [Member]
Real Estate Properties [Line Items]
Number of major U.S. office markets | market	8
Unconsolidated Joint Venture [Member]
Real Estate Properties [Line Items]
Number of real estate properties	1
In Service Office Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties	67
Square footage of real estate property | ft²	20
Percentage leased	91.00%

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2017
Total Revenues Derived from Long Term Leases to Tenants or Reimbursement of Property Tax and Insurance Expenses [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Percentage of total revenues	90.00%

Debt (Details)

Debt (Details)		Aug. 01, 2017USD ($)	Jun. 30, 2017USD ($)period		Jul. 05, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Weighted Average Rate	[1],[2],[3]		3.48%
Amount Outstanding	[2],[3]		$ 2,053,182,000			$ 2,020,475,000
Secured Debt [Member]
Debt Instrument [Line Items]
Weighted Average Rate	[1],[2],[3]		4.64%
Amount Outstanding	[2],[3]		$ 332,196,000			332,744,000
Net premium, discounts, and unamortized debt issuance costs	[2]		1,063,000			1,161,000
Secured Debt [Member] | $140 Million WDC Fixed Rate Loans [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	[2],[4]		$ 140,000,000
Stated Rate	[2],[4]		5.76%
Effective interest rate	[1],[2],[4]		5.76%
Amount Outstanding	[2],[4]		$ 140,000,000	[5]		140,000,000
Secured Debt [Member] | $140 Million WDC Fixed Rate Loans [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Amount fully repaid		$ 140,000,000
Secured Debt [Member] | $35 Million Fixed-Rate Loan [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	[2],[6]		$ 35,000,000
Stated Rate	[2],[6]		5.55%
Effective interest rate	[1],[2],[6]		3.75%
Amount Outstanding	[2],[6]		$ 31,133,000			31,583,000
Secured Debt [Member] | $160 Million Fixed Rate Loan [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	[2],[7]		$ 160,000,000
Stated Rate	[2],[7]		3.48%
Effective interest rate	[1],[2],[7]		3.58%
Amount Outstanding	[2],[7]		$ 160,000,000			160,000,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Weighted Average Rate	[1],[2],[3]		3.26%
Amount Outstanding	[2],[3]		$ 1,720,986,000			1,687,731,000
Net premium, discounts, and unamortized debt issuance costs	[2]		(9,014,000)			(10,269,000)
Unsecured Debt [Member] | $170 Million Unsecured 2015 Term Loan [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	[2]		$ 170,000,000
Effective interest rate	[1],[2],[8]		2.29%
Amount Outstanding	[2],[8]		$ 170,000,000			170,000,000
Unsecured Debt [Member] | $170 Million Unsecured 2015 Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	[2]		1.125%
Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	[2]		$ 300,000,000
Amount Outstanding	[2]		$ 300,000,000			300,000,000
Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Effective interest rate	[1],[2]		2.78%
Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	[2]		1.20%
Unsecured Debt [Member] | $500 Million Unsecured 2015 Line of Credit [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	[2],[3],[8]		$ 500,000,000
Effective interest rate	[1],[2],[8]		2.14%
Amount Outstanding	[2],[8],[10]		$ 210,000,000	[9]		178,000,000
Maximum extension period			1 year
Number of extension periods | period			2
Extension period			6 months
Unsecured Debt [Member] | $500 Million Unsecured 2015 Line of Credit [Member] | Line of Credit [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Amount of line of credit					$ 500,000,000
Unsecured Debt [Member] | $500 Million Unsecured 2015 Line of Credit [Member] | Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	[2],[3],[8]		1.00%
Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	[2]		$ 300,000,000
Amount Outstanding	[2]		$ 300,000,000			300,000,000
Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Effective interest rate	[1],[2]		3.35%
Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	[2]		1.15%
Unsecured Debt [Member] | $350 Million Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	[2]		$ 350,000,000
Stated Rate	[2]		3.40%
Effective interest rate	[1],[2]		3.43%
Amount Outstanding	[2]		$ 350,000,000			350,000,000
Unsecured Debt [Member] | $400 Million Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	[2]		$ 400,000,000
Stated Rate	[2]		4.45%
Effective interest rate	[1],[2]		4.10%
Amount Outstanding	[2]		$ 400,000,000			$ 400,000,000
[1]	Effective rate after consideration of settled or in place interest rate swap agreements and/or issuance premiums or discounts.
[2]	Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of June 30, 2017 and December 31, 2016 is interest-only.
[3]	Weighted average is based on contractual balance of outstanding debt and the stated or effectively fixed interest rates in the table as of June 30, 2017
[4]	Collateralized by the 1201 and 1225 Eye Street buildings in Washington, D.C.
[5]	On August 1, 2017, Piedmont fully repaid the $140 Million WDC Fixed-Rate Loans without penalty using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13).
[6]	Collateralized by the 5 Wall Street building in Burlington, Massachusetts.
[7]	Collateralized by the 1901 Market Street building in Philadelphia, Pennsylvania.
[8]	On a periodic basis, Piedmont may select from multiple interest rate options, including the prime rate and various-length LIBOR locks. All LIBOR selections are subject to an additional spread over the selected rate based on Piedmont’s current credit rating.
[9]	On July 5, 2017, Piedmont repaid the outstanding balance of the $500 Million Unsecured 2015 Line of Credit, using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13).
[10]	Piedmont may extend the term for up to one additional year (through two available six month extensions to a final extended maturity date of June 18, 2020) provided Piedmont is not then in default and upon payment of extension fees.

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Debt Disclosure [Abstract]
Interest payments on debt facilities	$ 16,700	$ 15,400	$ 36,000	$ 34,700
Capitalized interest	$ 35	$ 735	$ 100	$ 1,900

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Eye Street 1201 N.W. Associates LLC [Member]
Variable Interest Entity [Line Items]
Piedmont’s % Ownership of Entity	49.50%
Net Carrying Amount	$ (0.9)	$ (6.7)
Primary Beneficiary Considerations, percentage of cash flow and economic benefits	100.00%
Eye Street 1225 N.W. Associates LLC [Member]
Variable Interest Entity [Line Items]
Piedmont’s % Ownership of Entity	49.50%
Net Carrying Amount	$ 8.8	9.9
Primary Beneficiary Considerations, percentage of cash flow and economic benefits	100.00%
Piedmont 500 W. Monroe Fee LLC [Member]
Variable Interest Entity [Line Items]
Piedmont’s % Ownership of Entity	100.00%
Net Carrying Amount	$ 267.6	$ 262.4
Primary Beneficiary Considerations, percentage of cash flow and economic benefits	100.00%

Derivative Instruments (Details

Derivative Instruments (Details)		3 Months Ended		6 Months Ended
		Jun. 30, 2017USD ($)contract	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)contract	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Derivative [Line Items]
Maximum period of extension term				30 months
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net [Abstract]
Gross derivative assets		$ 0		$ 0		$ 0
Gross derivative liabilities		5,061,000		5,061,000		8,169,000
Net derivative liability		5,061,000		5,061,000		$ 8,169,000
Loss to be reclassified from accumulated other comprehensive loss to interest expense over next twelve months		1,700,000		1,700,000
Loss related to hedge ineffectiveness and terminations of cash flow hedges		0	$ 0	0	$ 0
Interest Rate Swap [Member]
Derivative [Line Items]
Total notional value		600,000,000		600,000,000
Interest Rate Swap [Member] | Interest Expense [Member]
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net [Abstract]
Amount of gain/(loss) recognized in OCI		(911,000)	(4,068,000)	132,000	(15,029,000)
Amount of previously recorded loss reclassified from accumulated OCI into interest expense		977,000	$ 1,113,000	2,283,000	$ 2,246,000
Credit Risk Contract [Member]
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net [Abstract]
Assets needed for immediate settlement, aggregate fair value		5,200,000		5,200,000
Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member]
Derivative [Line Items]
Face amount of debt instrument	[1]	$ 300,000,000		$ 300,000,000
Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member] | Interest Rate Swap 1 through 4 [Member]
Derivative [Line Items]
Number of Swap Agreements | contract		4		4
Total notional value		$ 200,000,000		$ 200,000,000
Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member] | Interest Rate Swap 5 through 6 [Member]
Derivative [Line Items]
Number of Swap Agreements | contract		2		2
Total notional value		$ 100,000,000		$ 100,000,000
Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member]
Derivative [Line Items]
Face amount of debt instrument	[1]	$ 300,000,000		$ 300,000,000
Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member] | Interest Rate Swap 7 through 9 [Member]
Derivative [Line Items]
Number of Swap Agreements | contract		3		3
Total notional value		$ 300,000,000		$ 300,000,000
[1]	Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of June 30, 2017 and December 31, 2016 is interest-only.

Fair Value Measurement of Fin38

Fair Value Measurement of Financial Instruments (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap		$ 5,061	$ 8,169
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	9,596	6,992
Restricted cash and escrows	[1]	1,290	1,212
Accounts payable and accrued expenses	[1]	12,935	44,733
Debt, net		2,053,182	2,020,475
Interest Rate Swap [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap		5,061	8,169
Tenant receivables, net [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Tenant receivables, net	[1]	24,269	26,494
Level 1 [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	9,596	6,992
Restricted cash and escrows	[1]	1,290	1,212
Accounts payable and accrued expenses	[1]	12,935	44,733
Level 1 [Member] | Tenant receivables, net [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Tenant receivables, net	[1]	24,269	26,494
Level 2 [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, net		2,081,120	2,027,436
Level 2 [Member] | Interest Rate Swap [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap		$ 5,061	$ 8,169
[1]	For the periods presented, the carrying value of these financial instruments approximates estimated fair value due to their short-term maturity.

Impairment Loss on Real Estat39

Impairment Loss on Real Estate Assets (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment loss on real estate assets	[1]	$ 0	$ 10,950	$ 0	$ 10,950
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | 150 West Jefferson [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment loss on real estate assets	[2]	0	8,259	0	8,259
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | 9221 Corporate Boulevard [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment loss on real estate assets	[3]	$ 0	$ 2,691	$ 0	2,691
Loss on impairment					$ 2,700
[1]	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.
[2]	Piedmont recognized an impairment loss on real estate assets based upon the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs.
[3]	Piedmont, using a probability-weighted model heavily weighted towards the short-term sale of the 9221 Corporate Boulevard building in Rockville, Maryland, determined that the carrying value would not be recovered from the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. As a result, Piedmont recognized a loss on impairment of approximately $2.7 million during the six months ended June 30, 2016 calculated as the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs.

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)category	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)category	Jun. 30, 2016USD ($)
Loss Contingencies [Line Items]
Number of tenant and building improvement categories | category	2		2
Collectibility of Tenant Reimbursements [Member]
Loss Contingencies [Line Items]
Reductions in reimbursement revenues	$ 20	$ 0	$ 300	$ 0
Non-Incremental Capital Expenditures [Member]
Loss Contingencies [Line Items]
Period for commitments for funding non-incremental capital expenditures			5 years
Potential obligations for tenant improvements	31,400		$ 31,400
Non-Incremental Capital Expenditures [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Period for commitments for funding non-incremental capital expenditures			3 years
Incremental Capital Expenditures [Member]
Loss Contingencies [Line Items]
Potential obligations for tenant improvements	$ 13,200		$ 13,200

Property Dispositions, Assets41

Property Dispositions, Assets Held for Sale, and Discontinued Operations (Property Dispositions) (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] - USD ($) $ in Thousands	Jun. 16, 2017	May 02, 2016	Apr. 28, 2016	Apr. 21, 2016
1055 East Colorado Boulevard [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(Loss) on Sale				$ 29,462
Net Sales Proceeds				$ 60,076
Fairway Center II [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(Loss) on Sale			$ 14,406
Net Sales Proceeds			$ 33,062
1901 Main Street [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(Loss) on Sale		$ 29,964
Net Sales Proceeds		$ 63,149
Sarasota Commerce Center II [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(Loss) on Sale	$ 6,497
Net Sales Proceeds	$ 23,094

Property Dispositions, Assets42

Property Dispositions, Assets Held for Sale, and Discontinued Operations (Assets Held-for-Sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total other assets held for sale, net	$ 10,222	$ 9,815
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total real estate assets held for sale, net	225,071	225,939
Straight-line rent receivables	2,225	2,059
Prepaid expenses and other assets	762	454
Deferred lease costs, less accumulated amortization of $2,892 and $2,825 as of June 30, 2017 and December 31, 2016, respectively	7,235	7,302
Accumulated amortization on deferred lease costs	2,892	2,825
Total other assets held for sale, net	10,222	9,815
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, net:	52,710	52,710
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Building and building improvements [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, net:	172,350	173,218
Accumulated depreciation (building improvements)	89,187	88,319
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Construction in Progress [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, net:	$ 11	$ 11

Property Dispositions, Assets43

Property Dispositions, Assets Held for Sale, and Discontinued Operations (Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Expenses:
Operating income	$ 0	$ (1)	$ 0	$ (1)
Income from discontinued operations	0	(1)	0	(1)
Discontinued Operations [Member]
Revenues:
Rental income	0	0	0	0
Tenant reimbursements	0	0	0	0
Revenue	0	0	0	0
Expenses:
Property operating costs	0	0	0	0
General and administrative	0	1	0	1
Expenses	0	1	0	1
Operating income	0	(1)	0	(1)
Loss on sale of real estate assets	0	0	0	0
Income from discontinued operations	$ 0	$ (1)	$ 0	$ (1)

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to stock awards	$ 2.6	$ 3.2	$ 5.7	$ 5.7
Amortization of unvested shares	1.1	$ 1.7	$ 3.9	$ 4.2
Total shares issued to employees, directors, and officers (in shares)			254,532
Unrecognized compensation cost related to nonvested	$ 6.4		$ 6.4
Weighted Average [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to nonvested, weighted-average vesting period			2 years
Stock Awards [Member] | Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year

Stock Based Compensation (Rollf

Stock Based Compensation (Rollforward of Stock Awards) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Unvested Stock Awards, Beginning of period (in shares)			944,223
Unvested Stock Awards, End of period (in shares)	968,883		968,883
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Unvested Stock Awards, Weighted-Average Grant Date Fair Value, Beginning of period (in dollars per share)			$ 19.44
Unvested Stock Awards, Weighted-Average Grant Date Fair Value, End of period (in dollars per share)	$ 21.94		$ 21.94
Deferred Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Deferred Stock Awards Granted (in shares)			299,251
Performance Stock Awards and Deferred Stock Awards Vested (in shares)			(301,921)
Deferred Stock Awards Forfeited (in shares)			(4,761)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Deferred Stock Awards Granted, Weighted-Average Grant Date Fair Value (in dollars per share)	$ 21.38	$ 19.96	$ 21.38	$ 19.96
Performance Stock Awards and Deferred Stock Awards Vested, Weighted-Average Grant Date Fair Value (in dollars per share)			19.35
Deferred Stock Awards Forfeited, Weighted-Average Grant Date Fair Value (in dollars per share)			$ 19.57
Performance Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Increase in Estimated Potential Future Performance Share Awards, net of forfeitures (in shares)			150,537
Performance Stock Awards and Deferred Stock Awards Vested (in shares)			(118,446)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Increase in Estimated Potential Future Performance Share Awards, net of forfeitures, Weighted-Average Grant Date Fair Value (in dollars per share)			$ 28.37
Performance Stock Awards and Deferred Stock Awards Vested, Weighted-Average Grant Date Fair Value (in dollars per share)			$ 22

Stock Based Compensation (Addit

Stock Based Compensation (Additional Information Regarding Stock Award Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Deferred Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Grant Date Fair Value of Deferred Stock Granted During the Period (in dollars per share)		$ 21.38	$ 19.96	$ 21.38	$ 19.96
Total Grant Date Fair Value of Deferred Stock Vested During the Period		$ 5,551	$ 4,319	$ 5,841	$ 4,659
Performance Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Liability Awards Paid During the Period	[1]	$ 0	$ 0	$ 2,877	$ 1,127
[1]	Amounts reflect the issuance of performance share awards related to the 2014-16 and 2013-15 Performance Share Plans during the six months ended June 30, 2017 and 2016, respectively.

Stock Based Compensation (Outst

Stock Based Compensation (Outstanding Employee Stock Awards) (Details) - $ / shares		May 18, 2017	May 24, 2016	May 01, 2015	Jan. 03, 2014	Jun. 30, 2017	Dec. 31, 2016
Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Date Fair Value (in dollars per share)						$ 21.94	$ 19.44
Unvested Shares (in shares)						968,883	944,223
Deferred Stock Awards [Member] | Deferred Stock Award, Granted January 3, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net Shares Granted (in shares)	[1]				86,769
Grant Date Fair Value (in dollars per share)					$ 16.56
Unvested Shares (in shares)						35,094
Deferred Stock Awards [Member] | Deferred Stock Award, Granted January 3, 2014 [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					20.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted January 3, 2014 [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					20.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted January 3, 2014 [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					20.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted January 3, 2014 [Member] | Share-based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					20.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted January 3, 2014 [Member] | Share-based Compensation Award, Tranche Five [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					20.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net Shares Granted (in shares)	[1]			216,919
Grant Date Fair Value (in dollars per share)				$ 17.59
Unvested Shares (in shares)						67,747
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 1, 2015 [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 1, 2015 [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 1, 2015 [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 1, 2015 [Member] | Share-based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 24, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net Shares Granted (in shares)	[1]		233,073
Grant Date Fair Value (in dollars per share)			$ 19.91
Unvested Shares (in shares)						134,117
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 24, 2016 [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 24, 2016 [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 24, 2016 [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 24, 2016 [Member] | Share-based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 18, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net Shares Granted (in shares)	[1]	246,808
Grant Date Fair Value (in dollars per share)		$ 21.38
Unvested Shares (in shares)						202,233
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 18, 2017 [Member] | Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net Shares Granted (in shares)	[1]	26,187
Grant Date Fair Value (in dollars per share)		$ 21.38
Unvested Shares (in shares)						26,187
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 18, 2017 [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 18, 2017 [Member] | Share-based Compensation Award, Tranche One [Member] | Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		100.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 18, 2017 [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 18, 2017 [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25.00%
Deferred Stock Awards [Member] | Deferred Stock Award, Granted May 18, 2017 [Member] | Share-based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25.00%
Performance Share Program Award [Member] | Performance Share Program Award, Granted May 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net Shares Granted (in shares)	[1]			0
Grant Date Fair Value (in dollars per share)				$ 18.42
Unvested Shares (in shares)	[2]					229,828
Performance Share Program Award [Member] | Performance Share Program Award, Granted May 24, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net Shares Granted (in shares)	[1]		0
Grant Date Fair Value (in dollars per share)			$ 23.02
Unvested Shares (in shares)	[2]					85,792
Performance Share Program Award [Member] | Performance Share Program Award, Granted May 18, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net Shares Granted (in shares)	[1]	0
Grant Date Fair Value (in dollars per share)		$ 30.45
Unvested Shares (in shares)	[2]					187,885
[1]	Amounts reflect the total grant to employees and independent directors, net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations through June 30, 2017.
[2]	Estimated based on Piedmont's cumulative TSR for the respective performance period through June 30, 2017. Share estimates are subject to change in future periods based on both Piedmont's and its peers' stock performance and dividends paid.

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Earnings Per Share [Abstract]
Weighted-average common shares outstanding – basic (in shares)	145,412,524	145,178,601	145,350,074	145,227,539
Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards (in shares)	400,000	520,000	430,000	537,000
Weighted-average common shares outstanding – diluted (in shares)	145,813,130	145,698,723	145,779,709	145,765,149
Common stock, shares issued	145,489,845	145,230,000	145,489,845	145,230,000	145,235,313
Common stock, shares outstanding	145,489,845	145,230,000	145,489,845	145,230,000	145,235,313

Guarantor and Non-Guarantor F49

Guarantor and Non-Guarantor Financial Information - Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Assets:
Land	$ 614,934	$ 617,138
Buildings and improvements, less accumulated depreciation	2,742,327	2,754,106
Intangible lease assets, less accumulated amortization	84,989	99,695
Construction in progress	15,651	34,814
Real estate assets held for sale, net	225,071	225,939
Total real estate assets	3,682,972	3,731,692
Investments in and amounts due from unconsolidated joint ventures	7,762	7,360
Cash and cash equivalents	9,596	6,992	$ 21,109	$ 5,441
Tenant and straight-line rent receivables, net	201,732	190,283
Advances to affiliates	0	0
Investment in subsidiary	0	0
Note receivable	0	0
Prepaid expenses, restricted cash, escrows, and other assets	30,744	24,413
Goodwill	98,918	98,918
Deferred lease costs, net	278,366	298,695
Other assets held for sale, net	10,222	9,815
Total assets	4,320,312	4,368,168
Liabilities:
Debt, net	2,053,182	2,020,475
Accounts payable, accrued expenses, and accrued capital expenditures	111,011	165,410
Advances from affiliates	0	0
Deferred income	27,416	28,406
Intangible lease liabilities, net	43,328	48,005
Interest rate swaps	5,061	8,169
Total liabilities	2,239,998	2,270,465
Stockholders’ Equity:
Common stock	1,455	1,452
Additional paid-in capital	3,675,562	3,673,128
Cumulative distributions in excess of earnings	(1,603,119)	(1,580,863)
Other comprehensive loss income	4,547	2,104
Piedmont stockholders’ equity	2,078,445	2,095,821
Noncontrolling interest	1,869	1,882
Total stockholders’ equity	2,080,314	2,097,703		2,123,420
Total liabilities and stockholders’ equity	4,320,312	4,368,168
Eliminations [Member]
Assets:
Land	0	0
Buildings and improvements, less accumulated depreciation	(300)	(300)
Intangible lease assets, less accumulated amortization	0	0
Construction in progress	0	0
Real estate assets held for sale, net	0	0
Total real estate assets	(300)	(300)
Investments in and amounts due from unconsolidated joint ventures	0	0
Cash and cash equivalents	0	0	0	0
Tenant and straight-line rent receivables, net	0	0
Advances to affiliates	(7,781,796)	(7,779,751)
Investment in subsidiary	(3,569,672)	(3,630,745)
Note receivable	(184,700)	(184,700)
Prepaid expenses, restricted cash, escrows, and other assets	(1,091)	(1,897)
Goodwill	0	0
Deferred lease costs, net	0	0
Other assets held for sale, net	0	0
Total assets	(11,537,559)	(11,597,393)
Liabilities:
Debt, net	(184,700)	(184,700)
Accounts payable, accrued expenses, and accrued capital expenditures	(1,091)	(1,897)
Advances from affiliates	(7,880,051)	(7,878,007)
Deferred income	0	0
Intangible lease liabilities, net	0	0
Interest rate swaps	0	0
Total liabilities	(8,065,842)	(8,064,604)
Stockholders’ Equity:
Common stock	0	0
Additional paid-in capital	(3,569,672)	(3,630,745)
Cumulative distributions in excess of earnings	97,955	97,956
Other comprehensive loss income	0	0
Piedmont stockholders’ equity	(3,471,717)	(3,532,789)
Noncontrolling interest	0	0
Total stockholders’ equity	(3,471,717)	(3,532,789)
Total liabilities and stockholders’ equity	(11,537,559)	(11,597,393)
Issuer [Member]
Assets:
Land	43,929	46,133
Buildings and improvements, less accumulated depreciation	209,091	228,194
Intangible lease assets, less accumulated amortization	453	725
Construction in progress	572	145
Real estate assets held for sale, net	0	0
Total real estate assets	254,045	275,197
Investments in and amounts due from unconsolidated joint ventures	7,762	7,360
Cash and cash equivalents	5,181	3,674	16,270	2,174
Tenant and straight-line rent receivables, net	17,266	20,159
Advances to affiliates	6,465,350	6,464,135
Investment in subsidiary	0	0
Note receivable	88,910	88,910
Prepaid expenses, restricted cash, escrows, and other assets	5,007	6,189
Goodwill	98,918	98,918
Deferred lease costs, net	14,500	16,550
Other assets held for sale, net	0	0
Total assets	6,956,939	6,981,092
Liabilities:
Debt, net	1,735,196	1,701,933
Accounts payable, accrued expenses, and accrued capital expenditures	16,328	17,365
Advances from affiliates	729,007	708,340
Deferred income	2,934	5,206
Intangible lease liabilities, net	0	0
Interest rate swaps	5,061	8,169
Total liabilities	2,488,526	2,441,013
Stockholders’ Equity:
Common stock	0	0
Additional paid-in capital	3,565,494	3,626,564
Cumulative distributions in excess of earnings	898,372	911,411
Other comprehensive loss income	4,547	2,104
Piedmont stockholders’ equity	4,468,413	4,540,079
Noncontrolling interest	0	0
Total stockholders’ equity	4,468,413	4,540,079
Total liabilities and stockholders’ equity	6,956,939	6,981,092
Guarantor [Member]
Assets:
Land	0	0
Buildings and improvements, less accumulated depreciation	0	0
Intangible lease assets, less accumulated amortization	0	0
Construction in progress	0	0
Real estate assets held for sale, net	0	0
Total real estate assets	0	0
Investments in and amounts due from unconsolidated joint ventures	0	0
Cash and cash equivalents	150	150	150	150
Tenant and straight-line rent receivables, net	0	0
Advances to affiliates	1,316,446	1,315,616
Investment in subsidiary	3,569,494	3,630,564
Note receivable	0	0
Prepaid expenses, restricted cash, escrows, and other assets	76	0
Goodwill	0	0
Deferred lease costs, net	0	0
Other assets held for sale, net	0	0
Total assets	4,886,166	4,946,330
Liabilities:
Debt, net	0	0
Accounts payable, accrued expenses, and accrued capital expenditures	565	31,230
Advances from affiliates	5,100,839	5,071,521
Deferred income	0	0
Intangible lease liabilities, net	0	0
Interest rate swaps	0	0
Total liabilities	5,101,404	5,102,751
Stockholders’ Equity:
Common stock	1,455	1,452
Additional paid-in capital	3,678,434	3,676,000
Cumulative distributions in excess of earnings	(3,895,127)	(3,833,873)
Other comprehensive loss income	0	0
Piedmont stockholders’ equity	(215,238)	(156,421)
Noncontrolling interest	0	0
Total stockholders’ equity	(215,238)	(156,421)
Total liabilities and stockholders’ equity	4,886,166	4,946,330
Non-Guarantor Subsidiaries [Member]
Assets:
Land	571,005	571,005
Buildings and improvements, less accumulated depreciation	2,533,536	2,526,212
Intangible lease assets, less accumulated amortization	84,536	98,970
Construction in progress	15,079	34,669
Real estate assets held for sale, net	225,071	225,939
Total real estate assets	3,429,227	3,456,795
Investments in and amounts due from unconsolidated joint ventures	0	0
Cash and cash equivalents	4,265	3,168	$ 4,689	$ 3,117
Tenant and straight-line rent receivables, net	184,466	170,124
Advances to affiliates	0	0
Investment in subsidiary	178	181
Note receivable	95,790	95,790
Prepaid expenses, restricted cash, escrows, and other assets	26,752	20,121
Goodwill	0	0
Deferred lease costs, net	263,866	282,145
Other assets held for sale, net	10,222	9,815
Total assets	4,014,766	4,038,139
Liabilities:
Debt, net	502,686	503,242
Accounts payable, accrued expenses, and accrued capital expenditures	95,209	118,712
Advances from affiliates	2,050,205	2,098,146
Deferred income	24,482	23,200
Intangible lease liabilities, net	43,328	48,005
Interest rate swaps	0	0
Total liabilities	2,715,910	2,791,305
Stockholders’ Equity:
Common stock	0	0
Additional paid-in capital	1,306	1,309
Cumulative distributions in excess of earnings	1,295,681	1,243,643
Other comprehensive loss income	0	0
Piedmont stockholders’ equity	1,296,987	1,244,952
Noncontrolling interest	1,869	1,882
Total stockholders’ equity	1,298,856	1,246,834
Total liabilities and stockholders’ equity	$ 4,014,766	$ 4,038,139

Guarantor and Non-Guarantor F50

Guarantor and Non-Guarantor Financial Information - Condensed Consolidated Statements of Income (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Revenues:
Rental income		$ 124,248	$ 111,767	$ 247,698	$ 226,505
Tenant reimbursements		24,044	23,086	48,544	45,837
Property management fee revenue		387	454	900	977
Total revenues		148,679	135,307	297,142	273,319
Expenses:
Property operating costs		55,779	52,292	111,163	106,571
Depreciation		30,059	31,556	60,827	63,338
Amortization		19,314	17,402	39,729	35,208
Impairment loss on real estate assets	[1]	0	10,950	0	10,950
General and administrative		8,036	8,316	16,632	16,089
Operating expenses		113,188	120,516	228,351	232,156
Real estate operating income		35,491	14,791	68,791	41,163
Other income (expense):
Interest expense		(18,421)	(16,413)	(36,478)	(32,798)
Other income/(expense)		38	(41)	(62)	253
Equity in income of unconsolidated joint ventures		107	110	118	225
Other income (expense)		(18,276)	(16,344)	(36,422)	(32,320)
Income/(loss) from continuing operations		17,215	(1,553)	32,369	8,843
Discontinued operations:
Operating loss		0	(1)	0	(1)
Income from discontinued operations		0	(1)	0	(1)
Gain on sale of real estate assets, net		6,492	73,835	6,439	73,815
Net income		23,707	72,281	38,808	82,657
Less: Net loss/(income) applicable to noncontrolling interest		3	(3)	6	(7)	$ 15
Net income applicable to Piedmont		23,710	72,278	38,814	82,650	$ 99,732
Eliminations [Member]
Revenues:
Rental income		(485)	(754)	(944)	(1,518)
Tenant reimbursements		(127)	(76)	(230)	(169)
Property management fee revenue		(4,190)	(3,724)	(8,301)	(7,518)
Total revenues		(4,802)	(4,554)	(9,475)	(9,205)
Expenses:
Property operating costs		(4,802)	(4,595)	(9,475)	(9,274)
Depreciation		0	0	0	0
Amortization		0	0	0	0
Impairment loss on real estate assets			0		0
General and administrative		0	(10,096)	0	(19,558)
Operating expenses		(4,802)	(14,691)	(9,475)	(28,832)
Real estate operating income		0	10,137	0	19,627
Other income (expense):
Interest expense		3,651	2,423	7,290	4,966
Other income/(expense)		(3,651)	(2,423)	(7,290)	(4,966)
Equity in income of unconsolidated joint ventures		0	0	0	0
Other income (expense)		0	0	0	0
Income/(loss) from continuing operations		0	10,137	0	19,627
Discontinued operations:
Operating loss		0	0	0	0
Income from discontinued operations		0	0	0	0
Gain on sale of real estate assets, net		0	0	0	0
Net income		0	10,137	0	19,627
Less: Net loss/(income) applicable to noncontrolling interest		0	0	0	0
Net income applicable to Piedmont		0	10,137	0	19,627
Issuer [Member]
Revenues:
Rental income		11,092	14,661	22,517	30,127
Tenant reimbursements		2,964	3,753	5,964	7,026
Property management fee revenue		0	0	0	0
Total revenues		14,056	18,414	28,481	37,153
Expenses:
Property operating costs		5,853	8,319	11,655	16,762
Depreciation		3,281	4,476	6,744	9,376
Amortization		803	941	1,659	1,991
Impairment loss on real estate assets			8,258		8,259
General and administrative		1,528	8,107	3,231	15,615
Operating expenses		11,465	30,101	23,289	52,003
Real estate operating income		2,591	(11,687)	5,192	(14,850)
Other income (expense):
Interest expense		(14,810)	(12,170)	(29,254)	(24,360)
Other income/(expense)		2,240	1,735	4,469	4,400
Equity in income of unconsolidated joint ventures		107	110	118	225
Other income (expense)		(12,463)	(10,325)	(24,667)	(19,735)
Income/(loss) from continuing operations		(9,872)	(22,012)	(19,475)	(34,585)
Discontinued operations:
Operating loss		0	0	0	0
Income from discontinued operations		0	0	0	0
Gain on sale of real estate assets, net		6,495	29,966	6,434	29,962
Net income		(3,377)	7,954	(13,041)	(4,623)
Less: Net loss/(income) applicable to noncontrolling interest		0	0	0	0
Net income applicable to Piedmont		(3,377)	7,954	(13,041)	(4,623)
Guarantor [Member]
Revenues:
Rental income		0	0	0	0
Tenant reimbursements		0	0	0	0
Property management fee revenue		0	0	0	0
Total revenues		0	0	0	0
Expenses:
Property operating costs		0	0	0	0
Depreciation		0	0	0	0
Amortization		0	0	0	0
Impairment loss on real estate assets			0		0
General and administrative		81	92	183	168
Operating expenses		81	92	183	168
Real estate operating income		(81)	(92)	(183)	(168)
Other income (expense):
Interest expense		0	0	0	0
Other income/(expense)		0	282	0	282
Equity in income of unconsolidated joint ventures		0	0	0	0
Other income (expense)		0	282	0	282
Income/(loss) from continuing operations		(81)	190	(183)	114
Discontinued operations:
Operating loss		0	0	0	0
Income from discontinued operations		0	0	0	0
Gain on sale of real estate assets, net		0	0	0	0
Net income		(81)	190	(183)	114
Less: Net loss/(income) applicable to noncontrolling interest		0	0	0	0
Net income applicable to Piedmont		(81)	190	(183)	114
Non-Guarantor Subsidiaries [Member]
Revenues:
Rental income		113,641	97,860	226,125	197,896
Tenant reimbursements		21,207	19,409	42,810	38,980
Property management fee revenue		4,577	4,178	9,201	8,495
Total revenues		139,425	121,447	278,136	245,371
Expenses:
Property operating costs		54,728	48,568	108,983	99,083
Depreciation		26,778	27,080	54,083	53,962
Amortization		18,511	16,461	38,070	33,217
Impairment loss on real estate assets			2,692		2,691
General and administrative		6,427	10,213	13,218	19,864
Operating expenses		106,444	105,014	214,354	208,817
Real estate operating income		32,981	16,433	63,782	36,554
Other income (expense):
Interest expense		(7,262)	(6,666)	(14,514)	(13,404)
Other income/(expense)		1,449	365	2,759	537
Equity in income of unconsolidated joint ventures		0	0	0	0
Other income (expense)		(5,813)	(6,301)	(11,755)	(12,867)
Income/(loss) from continuing operations		27,168	10,132	52,027	23,687
Discontinued operations:
Operating loss		0	(1)	0	(1)
Income from discontinued operations		0	(1)	0	(1)
Gain on sale of real estate assets, net		(3)	43,869	5	43,853
Net income		27,165	54,000	52,032	67,539
Less: Net loss/(income) applicable to noncontrolling interest		3	(3)	6	(7)
Net income applicable to Piedmont		$ 27,168	$ 53,997	$ 52,038	$ 67,532
[1]	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.

Guarantor and Non-Guarantor F51

Guarantor and Non-Guarantor Financial Information - Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Net Cash Provided by Operating Activities	$ 111,662	$ 102,744
Cash Flows from Investing Activities:
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals	(58,320)	(64,422)
Intercompany note receivable		0
Net sales proceeds from wholly-owned properties	23,023	201,690
Investments in unconsolidated joint ventures	(284)	0
Deferred lease costs paid	(9,563)	(6,266)
Net cash (used in)/provided by investing activities	(45,144)	131,002
Cash Flows from Financing Activities:
Debt issuance costs paid	(102)	(138)
Proceeds from debt	147,000	211,000
Repayments of debt	(115,694)	(357,597)
Intercompany note payable		0
Costs of issuance of common stock	(74)	(42)
Shares withheld to pay tax obligations related to employee stock compensation	(3,380)	(2,283)
Repurchases of common stock as part of announced plan	0	(7,943)
(Distributions to)/repayments from affiliates	0	0
Dividends paid and discount on dividend reinvestments	(91,664)	(61,075)
Net cash used in financing activities	(63,914)	(218,078)
Net increase in cash and cash equivalents	2,604	15,668
Cash and cash equivalents, beginning of period	6,992	5,441
Cash and cash equivalents, end of period	9,596	21,109
Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net Cash Provided by Operating Activities	0	19,628
Cash Flows from Investing Activities:
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals	0	0
Intercompany note receivable		(9,600)
Net sales proceeds from wholly-owned properties	0	0
Investments in unconsolidated joint ventures	0
Deferred lease costs paid	0	0
Net cash (used in)/provided by investing activities	0	(9,600)
Cash Flows from Financing Activities:
Debt issuance costs paid	0	0
Proceeds from debt	0	0
Repayments of debt	0	0
Intercompany note payable		9,600
Costs of issuance of common stock	0	0
Shares withheld to pay tax obligations related to employee stock compensation	0	0
Repurchases of common stock as part of announced plan		0
(Distributions to)/repayments from affiliates	0	(19,628)
Dividends paid and discount on dividend reinvestments	0	0
Net cash used in financing activities	0	(10,028)
Net increase in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Net Cash Provided by Operating Activities	(10,028)	(14,105)
Cash Flows from Investing Activities:
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals	(757)	(13,062)
Intercompany note receivable		0
Net sales proceeds from wholly-owned properties	23,032	108,550
Investments in unconsolidated joint ventures	(284)
Deferred lease costs paid	(736)	(1,712)
Net cash (used in)/provided by investing activities	21,255	93,776
Cash Flows from Financing Activities:
Debt issuance costs paid	(102)	(138)
Proceeds from debt	147,000	211,000
Repayments of debt	(115,000)	(232,000)
Intercompany note payable		(9,600)
Costs of issuance of common stock	0	0
Shares withheld to pay tax obligations related to employee stock compensation	0	0
Repurchases of common stock as part of announced plan		0
(Distributions to)/repayments from affiliates	(41,618)	(34,837)
Dividends paid and discount on dividend reinvestments	0	0
Net cash used in financing activities	(9,720)	(65,575)
Net increase in cash and cash equivalents	1,507	14,096
Cash and cash equivalents, beginning of period	3,674	2,174
Cash and cash equivalents, end of period	5,181	16,270
Guarantor [Member]
Condensed Financial Statements, Captions [Line Items]
Net Cash Provided by Operating Activities	3,091	3,075
Cash Flows from Investing Activities:
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals	0	0
Intercompany note receivable		0
Net sales proceeds from wholly-owned properties	0	0
Investments in unconsolidated joint ventures	0
Deferred lease costs paid	0	0
Net cash (used in)/provided by investing activities	0	0
Cash Flows from Financing Activities:
Debt issuance costs paid	0	0
Proceeds from debt	0	0
Repayments of debt	0	0
Intercompany note payable		0
Costs of issuance of common stock	(74)	(42)
Shares withheld to pay tax obligations related to employee stock compensation	(3,380)	(2,283)
Repurchases of common stock as part of announced plan		(7,943)
(Distributions to)/repayments from affiliates	92,020	68,259
Dividends paid and discount on dividend reinvestments	(91,657)	(61,066)
Net cash used in financing activities	(3,091)	(3,075)
Net increase in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	150	150
Cash and cash equivalents, end of period	150	150
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net Cash Provided by Operating Activities	118,599	94,146
Cash Flows from Investing Activities:
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals	(57,563)	(51,360)
Intercompany note receivable		9,600
Net sales proceeds from wholly-owned properties	(9)	93,140
Investments in unconsolidated joint ventures	0
Deferred lease costs paid	(8,827)	(4,554)
Net cash (used in)/provided by investing activities	(66,399)	46,826
Cash Flows from Financing Activities:
Debt issuance costs paid	0	0
Proceeds from debt	0	0
Repayments of debt	(694)	(125,597)
Intercompany note payable		0
Costs of issuance of common stock	0	0
Shares withheld to pay tax obligations related to employee stock compensation	0	0
Repurchases of common stock as part of announced plan		0
(Distributions to)/repayments from affiliates	(50,402)	(13,794)
Dividends paid and discount on dividend reinvestments	(7)	(9)
Net cash used in financing activities	(51,103)	(139,400)
Net increase in cash and cash equivalents	1,097	1,572
Cash and cash equivalents, beginning of period	3,168	3,117
Cash and cash equivalents, end of period	$ 4,265	$ 4,689

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] $ / shares in Units, ft² in Thousands, $ in Millions	Aug. 01, 2017$ / shares	Jul. 27, 2017USD ($)	Jul. 05, 2017USD ($)ft²story$ / squarefeet
Subsequent Event [Line Items]
Dividends declared (in dollars per share) | $ / shares	$ 0.21
8560 Upland Drive building [Member]
Subsequent Event [Line Items]
Piedmont's share of the purchase price		$ 12.7
Two Independence Square building [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Subsequent Event [Line Items]
Sales price			$ 360
Sales price per square foot | $ / squarefeet			593
Square footage of real estate property | ft²			606
Number of stories of office building | story			9
Percentage leased			100.00%