Piedmont Office Realty Trust (PDM) 10-K 20 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 16, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-34626
Entity Registrant Name	Piedmont Office Realty Trust, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	58-2328421
Entity Address, Address Line One	5565 Glenridge Connector Ste. 450
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30342
City Area Code	770
Local Phone Number	418-8800
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	PDM
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 887,613,659
Entity Common Stock, Shares Outstanding		123,800,864
Documents Incorporated by Reference	Registrant incorporates by reference portions of the Piedmont Office Realty Trust, Inc. Definitive Proxy Statement for the 2024 Annual Meeting of Stockholders (Items 10, 11, 12, 13, and 14 of Part III) to be filed no later than April 30, 2024.
Entity Central Index Key	0001042776
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Atlanta, Georgia

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real estate assets, at cost:
Land	$ 567,244	$ 567,244
Buildings and improvements, less accumulated depreciation of $1,046,512 and $915,010 as of December 31, 2023 and December 31, 2022, respectively	2,776,729	2,766,990
Intangible lease assets, less accumulated amortization of $88,066 and $90,694 as of December 31, 2023 and December 31, 2022, respectively	82,588	114,380
Construction in progress	85,966	52,010
Total real estate assets	3,512,527	3,500,624
Cash and cash equivalents	825	16,536
Tenant receivables, net of allowance for doubtful accounts of $0 and $1,000 as of December 31, 2023 and December 31, 2022, respectively	7,915	4,762
Straight-line rent receivables	183,839	172,019
Restricted cash and escrows	3,381	3,064
Prepaid expenses and other assets	28,466	17,152
Goodwill	53,491	82,937
Interest rate swaps	3,032	4,183
Deferred lease costs, less accumulated amortization of $223,913 and $221,731 as of December 31, 2023 and December 31, 2022, respectively	263,606	284,248
Total assets	4,057,082	4,085,525
Liabilities:
Unsecured debt, net of discount and unamortized debt issuance costs of $15,437 and $13,319 as of December 31, 2023 and December 31, 2022, respectively	1,858,717	1,786,681
Secured debt	195,879	197,000
Accounts payable, accrued expenses, and accrued capital expenditures	131,516	110,306
Dividends payable	15,143	25,357
Deferred income	89,930	59,977
Intangible lease liabilities, less accumulated amortization of $35,811 and $36,423 as of December 31, 2023 and December 31, 2022, respectively	42,925	56,949
Total liabilities	2,334,110	2,236,270
Commitments and Contingencies (Note 7)	0	0
Stockholders’ Equity:
Shares-in-trust, 150,000,000 shares authorized, none outstanding as of December 31, 2023 or December 31, 2022	0	0
Preferred stock, no par value, 100,000,000 shares authorized, none outstanding as of December 31, 2023 or December 31, 2022	0	0
Common stock, $0.01 par value; 750,000,000 shares authorized, 123,715,298 shares issued and outstanding as of December 31, 2023; and 123,439,558 shares issued and outstanding at December 31, 2022	1,237	1,234
Additional paid-in capital	3,716,742	3,711,005
Cumulative distributions in excess of earnings	(1,987,147)	(1,855,893)
Accumulated other comprehensive loss	(9,418)	(8,679)
Piedmont stockholders’ equity	1,721,414	1,847,667
Noncontrolling interest	1,558	1,588
Total stockholders’ equity	1,722,972	1,849,255
Total liabilities and stockholders’ equity	$ 4,057,082	$ 4,085,525

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Buildings and improvements, accumulated depreciation	$ 1,046,512	$ 915,010
Intangible lease assets, accumulated amortization	88,066	90,694
Tenant receivables, allowance for doubtful accounts	0	1,000
Deferred lease costs, accumulated amortization	223,913	221,731
Liabilities:
Discount (premium) and unamortized debt issuance costs	15,437	13,319
Intangible lease liabilities, accumulated amortization	$ 35,811	$ 36,423
Stockholders’ Equity:
Shares-in-trust, shares authorized (in shares)	150,000,000	150,000,000
Shares-in-trust, shares outstanding (in shares)	0	0
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	123,715,298	123,439,558
Common stock, shares outstanding (in shares)	123,715,298	123,439,558

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Rental and tenant reimbursement revenue	$ 555,313	$ 545,741	$ 514,619
Total revenues	577,756	563,766	528,710
Expenses:
Property operating costs	235,091	226,058	210,932
Depreciation	148,458	133,616	120,615
Amortization	87,756	90,937	85,992
Impairment charges	29,446	25,981	41,000
General and administrative	29,190	29,127	30,252
Total expenses	529,941	505,719	488,791
Other income (expense):
Interest expense	(101,258)	(65,656)	(51,292)
Other income	3,940	2,710	10,206
Loss on early extinguishment of debt	(820)	0	0
Gain on sale of real estate assets	1,946	151,729	0
Total other income (expense)	(96,192)	88,783	(41,086)
Net income/(loss)	(48,377)	146,830	(1,167)
Net (income)/loss applicable to noncontrolling interest	(10)	0	14
Net income/(loss) applicable to Piedmont	$ (48,387)	$ 146,830	$ (1,153)
Per share information— basic and diluted:
Net income/(loss) applicable to common stockholders - basic (in dollars per share)	$ (0.39)	$ 1.19	$ (0.01)
Net income/(loss) applicable to common stockholders - diluted (in dollars per share)	$ (0.39)	$ 1.19	$ (0.01)
Weighted-average shares outstanding - basic (in shares)	123,658,622	123,351,187	123,977,616
Weighted-average shares outstanding - diluted (in shares)	123,658,622	123,523,881	123,977,616
Property management fee revenue
Revenues:
Property management fee revenue and other property related income	$ 1,729	$ 1,675	$ 2,496
Other property related income
Revenues:
Property management fee revenue and other property related income	$ 20,714	$ 16,350	$ 11,595

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income/(loss) applicable to Piedmont	$ (48,387)	$ 146,830	$ (1,153)
Other comprehensive income/(loss):
Effective portion of gain on derivative instruments that are designated and qualify as cash flow hedges (See Note 4)	2,626	8,202	2,994
Plus: Reclassification of net (gain)/loss included in net income (See Note 4)	(3,365)	1,273	2,952
Other comprehensive income/(loss)	(739)	9,475	5,946
Comprehensive income/(loss) applicable to Piedmont	$ (49,126)	$ 156,305	$ 4,793

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Cumulative Distributions in Excess of Earnings	Accumulated Other Comprehensive Income/(Loss)	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2020		123,839,000
Beginning balance at Dec. 31, 2020	$ 1,897,961	$ 1,238	$ 3,693,996	$ (1,774,856)	$ (24,100)	$ 1,683
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share repurchases as part of announced plan (in shares)		(1,060,000)
Share repurchases as part of announced plan	(18,852)	$ (10)		(18,842)
Offering costs	(55)		(55)
Dividends to common stockholders and stockholders of subsidiaries	(104,270)			(104,230)		(40)
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax (in shares)		298,000
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax	7,860	$ 3	7,857
Net (loss) income applicable to noncontrolling interest	(14)					(14)
Net income/(loss) applicable to Piedmont	(1,153)			(1,153)
Other comprehensive income	5,946				5,946
Ending balance (in shares) at Dec. 31, 2021		123,077,000
Ending balance at Dec. 31, 2021	1,787,423	$ 1,231	3,701,798	(1,899,081)	(18,154)	1,629
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Offering costs	(460)		(460)
Dividends to common stockholders and stockholders of subsidiaries	(103,683)			(103,642)		(41)
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax (in shares)		363,000
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax	9,670	$ 3	9,667
Net (loss) income applicable to noncontrolling interest	0
Net income/(loss) applicable to Piedmont	146,830			146,830
Other comprehensive income	$ 9,475				9,475
Ending balance (in shares) at Dec. 31, 2022	123,439,558	123,440,000
Ending balance at Dec. 31, 2022	$ 1,849,255	$ 1,234	3,711,005	(1,855,893)	(8,679)	1,588
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends to common stockholders and stockholders of subsidiaries	(82,907)			(82,867)		(40)
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax (in shares)		275,000
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax	5,740	$ 3	5,737
Net (loss) income applicable to noncontrolling interest	10					10
Net income/(loss) applicable to Piedmont	(48,387)			(48,387)
Other comprehensive income	$ (739)				(739)
Ending balance (in shares) at Dec. 31, 2023	123,715,298	123,715,000
Ending balance at Dec. 31, 2023	$ 1,722,972	$ 1,237	$ 3,716,742	$ (1,987,147)	$ (9,418)	$ 1,558

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends to common stockholders (in dollars per share)	$ 0.67	$ 0.84	$ 0.84

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Net income/(loss)	$ (48,377)	$ 146,830	$ (1,167)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Depreciation	148,458	133,616	120,615
Amortization of debt issuance costs inclusive of settled interest rate swaps	5,854	3,757	3,270
Other amortization	78,388	81,777	78,657
Impairment charges	29,446	25,981	41,000
Loss on early extinguishment of debt	287	0	0
Reduction of general reserve for uncollectible accounts	(1,000)	(3,000)	(553)
Stock compensation expense	8,093	8,968	10,984
Gain on sale of real estate assets	(1,946)	(151,729)	0
Changes in other operating assets and liabilities:
Increase in tenant and straight-line rent receivables	(14,120)	(14,163)	(9,691)
Decrease/(increase) in prepaid expenses and other assets	(10,693)	4,774	1,294
Cash received upon settlement of interest rate swaps	0	0	623
Increase/(decrease) in accounts payable and accrued expenses	19,260	(1,590)	1,861
Decrease in deferred income	(3,519)	(20,006)	(4,690)
Net cash provided by operating activities	210,131	215,215	242,203
Cash Flows from Investing Activities:
Acquisition of real estate assets, intangibles, and undeveloped land parcels	0	(270,908)	(226,011)
Capitalized expenditures	(158,191)	(121,359)	(122,626)
Sales proceeds from wholly-owned properties	1,946	297,388	0
Note receivable repayment	0	118,500	0
Deferred lease costs paid	(39,775)	(24,868)	(20,295)
Net cash used in investing activities	(196,020)	(1,247)	(368,932)
Cash Flows from Financing Activities:
Debt issuance and other costs paid	(2,318)	(374)	(1,038)
Proceeds from debt	1,412,659	803,420	789,580
Repayments of debt	(1,344,967)	(897,000)	(535,610)
Discount paid due to loan modification	0	(500)	0
Costs of issuance of common stock	0	(460)	(55)
Value of shares withheld for payment of taxes related to employee stock compensation	(1,757)	(3,940)	(3,060)
Repurchases of common stock as part of announced plan	0	0	(19,537)
Dividends paid	(93,122)	(104,374)	(103,905)
Net cash (used in)/provided by financing activities	(29,505)	(203,228)	126,375
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows	(15,394)	10,740	(354)
Cash, cash equivalents, and restricted cash and escrows, beginning of year	19,600	8,860	9,214
Cash, cash equivalents, and restricted cash and escrows, end of year	$ 4,206	$ 19,600	$ 8,860

Organization

Organization	12 Months Ended
	Dec. 31, 2023
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 ownership, management, development, redevelopment, and operation of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. Piedmont was incorporated in 1997 and commenced operations in 1998. Piedmont conducts business through its wholly-owned subsidiary, Piedmont Operating Partnership, L.P. (“Piedmont OP”), a Delaware limited partnership. Piedmont OP owns properties directly, through wholly-owned subsidiaries, and through various joint ventures which it controls. References to Piedmont herein shall include Piedmont and all of its subsidiaries, including Piedmont OP and its subsidiaries and joint ventures. As of December 31, 2023, Piedmont owned 51 in-service office properties and one redevelopment asset, primarily located in major U.S. Sunbelt office markets. As of December 31, 2023, the in-service office properties comprised approximately 16.6 million square feet (unaudited) and were 87.1% leased.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
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 are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of Piedmont, Piedmont’s wholly-owned subsidiaries, any variable interest entity ("VIE") of 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. Piedmont owns a majority interest in four properties through three joint ventures. Two of these joint ventures, 1201 and 1225 Eye Street, NW Associates, own the 1201 and 1225 Eye Street buildings, respectively, in Washington, D.C. The other joint venture, Piedmont-CNL Towers Orlando, LLC, owns CNL Center I and II, in Orlando, Florida. All three joint venture investments are consolidated under the voting model. Accordingly, Piedmont’s consolidated financial statements include the accounts of 1201 Eye Street, NW Associates, LLC, 1225 Eye Street, NW Associates, LLC, and Piedmont-CNL Towers Orlando, LLC. All inter-company 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 and consequently the assets of the 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. The most significant of these estimates includes the underlying cash flows and holding periods used in assessing impairment, judgements regarding the recoverability of goodwill including the assumptions associated with the capitalization rates and discount rates used in valuing the properties in each reporting unit, and the assessment of the collectibility of receivables. While Piedmont has made, what it believes to be, appropriate accounting estimates based on the facts and circumstances available as of the reporting date, actual results could materially differ from those estimates. Real Estate Assets Piedmont classifies its real estate assets as long-lived assets held for use or as long-lived assets held for sale. Held for use assets are stated at cost, as adjusted for any impairment loss, less accumulated depreciation. Held for sale assets are carried at lower of depreciated cost or estimated fair value, less estimated costs to sell. Piedmont generally reclassifies assets as held for sale once a sales contract has been executed and earnest money has become non-refundable. Amounts capitalized to real estate assets consist of the cost of acquisition or construction, any tenant improvements or major improvements, betterments that extend the useful life of the related asset, and transaction costs associated with the acquisition of an individual asset that does not qualify as a business combination. All repairs and maintenance are expensed as incurred. Additionally, Piedmont capitalizes interest and other costs such as taxes and insurance while the development, or redevelopment, of a real estate asset is in progress. Piedmont’s real estate assets are depreciated or amortized using the straight-line method over the following useful lives: Buildings 40 years Building improvements 5-25 years Land improvements 20-25 years Tenant allowances Lease term Furniture, fixtures, and equipment 3-10 years Intangible lease assets Lease term Piedmont continually monitors events and changes in circumstances that could indicate that the carrying amounts of the real estate and related intangible assets of operating properties in which Piedmont has an ownership interest, either directly or through investments in joint ventures, may not be recoverable. When indicators of potential impairment are present, management assesses whether the respective carrying values will be recovered from the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition for assets held for use, or from the estimated fair values, less costs to sell, for assets held for sale. In the event that the expected undiscounted future cash flows for assets held for use or the estimated fair value, less costs to sell, for assets held for sale do not exceed the respective asset carrying value, management adjusts such assets to the respective estimated fair values and recognizes an impairment loss. Estimated fair values are calculated based on the following information, depending upon availability, in order of preference: (i) recently quoted market prices, (ii) market prices for comparable properties, or (iii) the present value of undiscounted cash flows, including estimated sales value (which is based on key assumptions such as estimated market rents, lease-up periods, estimated lease terms, and capitalization and discount rates) less estimated selling costs. Fair Value of Assets and Liabilities of Acquired Properties Upon the acquisition of real properties, Piedmont records the fair value of properties (plus any related acquisition costs) allocated based on relative fair value as tangible assets, consisting of land and building, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases and the value of in-place leases, based on their estimated fair values. Piedmont's property acquisitions typically qualify as asset acquisitions under Accounting Standards Codification ("ASC") 805, Business Combinations . The estimated fair values of the tangible assets of an acquired property are determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land and building based on management’s determination of the estimated fair value of these assets. Management relies on a sales comparison approach using closed land sales and listings in determining the land value, and determines the as-if-vacant estimated fair value of a property using methods similar to those used by independent appraisers. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance, and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates the cost to execute similar leases including leasing commissions, legal, and other related costs. The estimated fair values of above-market and below-market in-place leases are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of market rates for the corresponding in-place leases, measured over a period equal to the remaining terms of the leases, taking into consideration the probability of renewals for any below-market leases. The capitalized above-market and below-market lease values are recorded as intangible lease assets or liabilities and amortized as an adjustment to rental revenues over the remaining terms of the respective leases. The estimated fair values of in-place leases include an estimate of the direct costs associated with obtaining the acquired or "in place" tenant, estimates of opportunity costs associated with lost rentals that are avoided by acquiring an in-place lease. The amount capitalized as a direct cost associated with obtaining a tenant includes commissions, tenant improvements, and other direct costs and is estimated based on management’s consideration of current market costs to execute a similar lease. These direct lease origination costs are included in deferred lease costs in the accompanying consolidated balance sheets and are amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease. These lease intangibles are included in intangible lease assets in the accompanying consolidated balance sheets and are amortized to expense over the remaining terms of the respective leases. Gross intangible assets and liabilities, inclusive of amounts classified as real estate assets held for sale, recorded as of December 31, 2023 and 2022, respectively, are as follows (in thousands): December 31, 2023 December 31, 2022 Intangible Lease Assets: Above-Market In-Place Lease Assets $ 868 $ 1,147 In-Place Lease Valuation $ 169,786 $ 203,927 Intangible Lease Origination Costs (included as component of Deferred Lease Costs) $ 235,820 $ 285,777 Intangible Lease Liabilities (Below-Market In-Place Leases) $ 78,736 $ 93,372 For the years ended December 31, 2023, 2022, and 2021, respectively, Piedmont recognized amortization of intangible lease costs in the accompanying consolidated statements of operations, as follows (in thousands): 2023 2022 2021 Amortization of Intangible Lease Origination Costs and In-Place Lease Valuation included in Amortization $ 68,642 $ 74,167 $ 69,388 Amortization of Above-Market and Below-Market In-Place Lease Intangibles as a net increase to Rental and Tenant Reimbursement Revenue $ 13,830 $ 13,426 $ 11,180 Net intangible assets and liabilities as of December 31, 2023 will be amortized as follows (in thousands): Intangible Lease Assets Above-Market In-Place Lease Valuation Intangible Lease Origination Costs (1) Below-Market For the year ending December 31: 2024 $ 109 $ 21,570 $ 26,305 $ 9,756 2025 31 16,194 20,999 8,152 2026 14 12,739 17,740 6,623 2027 13 10,061 14,552 5,535 2028 13 7,934 11,748 4,724 Thereafter 17 13,893 21,015 8,135 $ 197 $ 82,391 $ 112,359 $ 42,925 Weighted-Average Amortization Period (in years) 3 5 6 6 (1) Included as a component of Deferred Lease Costs in the accompanying consolidated balance sheets. Cash and Cash Equivalents Piedmont considers all highly-liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents include cash and short-term investments. The majority of Piedmont’s cash and cash equivalents are held at major commercial banks and at times may exceed the Federal Deposit Insurance Corporation limit of $250,000. Short-term investments consist of investments in money market accounts stated at cost, which approximates estimated fair value, and available-for-sale securities associated with Piedmont's non-qualified deferred compensation program carried at estimated fair value. Tenant Receivables and Straight-line Rent Receivables Tenant receivables are comprised of rental and reimbursement billings due from tenants, and straight-line rent receivables representing the cumulative amount of future adjustments necessary to present rental income on a straight-line basis. Piedmont evaluates the collectibility of its operating lease receivables on a tenant/lease-specific basis and recognizes changes in the collectibility assessment of its operating lease receivables as a reduction of rental and tenant reimbursement revenues. Allowance for Doubtful Accounts As detailed above, Piedmont records contra-revenue adjustments to reduce tenant and straight-line rent receivables to their net realizable value when collectibility is in question. During the year ended December 31, 2020 Piedmont also established an allowance for doubtful accounts due to the general uncertainty regarding collectibility of certain tenant receivables during the COVID-19 pandemic. The majority of this allowance was ultimately not used and was reversed during the two years ended December 31, 2023. A roll forward of the allowance for doubtful accounts for the years ended December 31, 2023, 2022, and 2021 is as follows: Balance at Beginning of Period Additions/Reversals as Decrease/(Increase) to Revenue Write-offs Balance at End of Period Year Ended December 31, 2023 $ 1,000 $ (1,000) $ — $ — 2022 $ 4,000 $ (3,000) $ — $ 1,000 2021 $ 4,553 $ 35 $ (588) $ 4,000 Restricted Cash and Escrows Restricted cash and escrows principally relate to the following types of items: • escrow accounts held by lenders to pay future real estate taxes, insurance, debt service, and tenant improvements; • net sales proceeds from property sales held by qualified intermediary for potential Section 1031 exchange; • earnest money paid in connection with future acquisitions; and • security and utility deposits paid by tenants per the terms of their respective leases. Restricted cash and escrows are generally reclassified to other asset or liability accounts upon being used to purchase assets, satisfy obligations, or settle tenant obligations. Prepaid Expenses and Other Assets Prepaid expenses and other assets are primarily comprised of the following items: • prepaid property taxes, insurance and operating costs; • receivables which are unrelated to tenants, for example, insurance proceeds receivable from insurers related to casualty losses; and • equipment, furniture and fixtures, and tenant improvements for Piedmont’s corporate office and property management office space, net of accumulated depreciation. Prepaid expenses and other assets will be expensed as utilized or depreciated in the case of Piedmont's corporate assets. Balances without a future economic benefit are expensed as they are identified. Goodwill Goodwill is the excess of cost of an acquired entity over the amounts specifically assigned to assets acquired and liabilities assumed in purchase accounting for business combinations, and is allocated to each of Piedmont's reporting units. (See Note 14 below for further detail). Piedmont tests the carrying value of the goodwill assigned to each of its reporting units for impairment on an annual basis, or on an interim basis if an event occurs or circumstances change that would indicate it is more likely than not that the fair value of a reporting unit may be less than its carrying value. Such interim circumstances may include, but are not limited to, significant adverse changes in legal factors or in the general business climate, adverse action or assessment by a regulator, unanticipated competition, the loss of key personnel, or persistent declines in an entity’s stock price below the carrying value of the entity. In performing its goodwill impairment assessment, Piedmont compares the estimated fair value of each of its reporting units to the reporting unit’s carrying value. If Piedmont concludes that the fair value of a reporting unit is less than its carrying value, then Piedmont would recognize a goodwill impairment loss equal to the excess of the reporting unit’s carrying amount over its estimated fair value (not to exceed the total goodwill allocated to that reporting unit). Estimation of the fair value of each reporting unit involves projections of discounted future cash flows, which are derived using certain assumptions that are subjective in nature. Piedmont also makes assumptions about future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, and the number of months it takes to re-lease the property, among other factors. As a result of impairment assessments performed during the years ended December 31, 2023 and 2022 Piedmont determined that portions of its goodwill related to various reporting units were impaired, and recorded goodwill impairment charges in each period as further described in Note 6 below. Interest Rate Derivatives Piedmont has periodically entered into interest rate derivative agreements to hedge its exposure to changing interest rates. As of December 31, 2023 and 2022, all of Piedmont's interest rate derivatives were designated as effective cash flow hedges and carried on the balance sheet at estimated fair value. Piedmont reassesses the effectiveness of its derivatives designated as cash flow hedges on a regular basis to determine if they continue to be highly effective and if the forecasted transactions remain highly probable. Piedmont does not use derivatives for trading or speculative purposes. The changes in estimated fair value of interest rate swap agreements designated as effective cash flow hedges are recorded in other comprehensive income (“OCI”), and subsequently reclassified to earnings when the hedged transactions occur. The estimated fair value of the interest rate derivative agreement is recorded as interest rate derivative asset or as interest rate derivative liability in the accompanying consolidated balance sheets. Amounts received or paid under interest rate derivative agreements are recorded as reductions or additions to interest expense in the consolidated statements of operations as incurred. Additionally, when Piedmont settles forward starting swap agreements, any gain or loss is recorded as accumulated other comprehensive income and is amortized to interest expense over the term of the respective notes on a straight line basis (which approximates the effective interest method). Further, Piedmont classifies cash flows from the settlement of hedging derivative instruments in the same category as the underlying exposure which is being hedged. Settlements resulting from the hedge of Piedmont's exposure to interest rate changes are classified as operating cash flows in the accompanying consolidated statements of cash flows. Deferred Lease Costs Deferred lease costs are comprised of costs and incentives incurred to acquire operating leases. In addition to direct costs, deferred lease costs also include intangible lease origination costs related to in-place leases acquired as part of a property acquisition. Deferred lease costs are amortized on a straight-line basis over the terms of the related underlying leases in the accompanying consolidated statements of operations as follows: • Approximately $56.1 million, $57.9 million, and $56.4 million of deferred lease costs are included in amortization expense for the years ended December 31, 2023, 2022, and 2021, respectively; and • Approximately $4.4 million, $4.2 million, and $3.9 million, of deferred lease costs related to lease incentives granted to tenants are included as an offset to rental and tenant reimbursement revenue for the years ended December 31, 2023, 2022, and 2021, respectively. Upon receipt of an early lease termination notice, Piedmont recognizes any unamortized deferred lease costs ratably over the revised remaining term of the lease after giving effect to the termination notice. If there is no remaining lease term and no other obligation to provide the tenant space in the property, then any unamortized tenant-specific costs are recognized immediately. Debt When mortgage debt is assumed upon the acquisition of real property, Piedmont adjusts the loan to relative fair value with a corresponding adjustment to building and other intangible assets assumed as part of the purchase. The fair value adjustment is amortized to interest expense over the term of the loan using the effective interest method. Amortization of such fair value adjustments was approximately $0, $0, and $0.3 million for the years ended December 31, 2023, 2022, and 2021, respectively. Piedmont records premiums and discounts on debt issuances as an increase/decrease to the principal amount of the loan in the accompanying consolidated balance sheets, and amortizes such premiums or discounts as a component of interest expense over the life of the underlying loan facility using the effective interest method. Piedmont recorded discount amortization of approximately $0.7 million, $0.6 million and $0.5 million for the years ended December 31, 2023, 2022, and 2021, respectively. Piedmont presents all debt issuance costs as an offset to the principal amount of debt in the accompanying consolidated balance sheets. Piedmont amortizes these costs to interest expense on a straight-line basis (which approximates the effective interest rate method) over the terms of the related financing arrangements. Piedmont recognized amortization of such costs for the years ended December 31, 2023, 2022, and 2021 of approximately $4.7 million, $2.8 million, and $2.7 million, respectively. Deferred income Deferred income is primarily comprised of the following items: • prepaid rent from tenants; • tenant reimbursements related to operating expense or property tax expenses which may be due to tenants as part of an annual operating expense reconciliation; and • tenant improvement allowance overages or improvements funded by the tenant where Piedmont owns the underlying improvements. Deferred income related to prepaid rents from tenants will be recognized as rental income in the period it is earned. Amounts related to operating expense reconciliations or property tax expense are relieved when the tenant's reconciliation is completed in accordance with the underlying lease, and payment is issued to the tenant. Tenant improvement allowance overages or improvements paid for by the tenant, where Piedmont owns all of the underlying improvements, are recorded as deferred income and amortized on a straight-line basis into rental and tenant reimbursement revenue over the term of the respective leases. Shares-in-trust To date, Piedmont has not issued any shares-in-trust; however, under Piedmont’s charter, it has authority to issue a total of 150,000,000 shares-in-trust, which would be issued only in the event that there is a purported transfer of, or other change in or affecting the ownership of, Piedmont’s capital stock that would result in a violation of the ownership limits that are included in Piedmont’s charter to protect its REIT status. Preferred Stock To date, Piedmont has not issued any shares of preferred stock; however, Piedmont is authorized to issue up to 100,000,000 shares of one or more classes or series of preferred stock. Piedmont’s board of directors may determine the relative rights, preferences, and privileges of any class or series of preferred stock that may be issued, and can be more beneficial than the rights, preferences, and privileges attributable to Piedmont’s common stock. Common Stock Under Piedmont’s charter, it has authority to issue a total of 750,000,000 shares of common stock with a par value of $0.01 per share. Each share of common stock is entitled to one vote and participates in distributions equally. Piedmont previously had a board-authorized stock repurchase program, which expired in February 2024, under which it repurchased its own shares from time to time in the open market, in accordance with applicable securities laws. Equity Securities Issued At-The-Market Under Piedmont's at-the-market stock offering program ("ATM program"), Piedmont may offer and sell shares of its common stock from time to time in “at-the-market” offerings with an aggregate gross sales price of up to $250 million. In connection with the ATM Program, Piedmont may, at its discretion, enter into forward equity sale agreements. The use of a forward equity sale agreement would allow Piedmont to lock in a share price on the sale of shares of its common stock at the time the agreement is executed, but defer receiving the proceeds from the sale of shares until a later date, allowing Piedmont to better align such funding with its capital needs. Sales of shares of Piedmont’s common stock through its banking relationships, if any, will be made in amounts and at times to be determined by Piedmont from time to time, but Piedmont has no obligation to sell any of the shares in the offering and may suspend sales in connection with the offering at any time. Sales of Piedmont's common stock under forward equity sale agreements, if undertaken, meet the derivatives and hedging guidance scope exception to be accounted for as equity instruments based on the following assessments: (i) none of the agreements’ exercise contingencies were based on observable markets or indices besides those related to the market for Piedmont's own stock price and operations; and (ii) none of the settlement provisions precluded the agreements from being indexed to Piedmont's own stock. Underwriting commissions and offering costs incurred in connection with all common equity offerings, including any potential issuances under Piedmont's ATM Program, are reflected as a reduction of additional paid-in capital. Dividends As a REIT, Piedmont is required by the Internal Revenue Code of 1986, as amended (the “Code”), to make distributions to stockholders each taxable year equal to at least 90% of its annual taxable income, computed without regard to the dividends-paid deduction and by excluding net capital gains attributable to stockholders (“REIT taxable income”). Noncontrolling Interest Noncontrolling interest is the equity interest of consolidated entities that is not owned by Piedmont. Noncontrolling interest is adjusted for the noncontrolling partners' share of contributions, distributions, and earnings (losses) in accordance with the respective partnership agreement. Earnings allocated to such noncontrolling partners are recorded as income applicable to noncontrolling interest in the accompanying consolidated statements of operations. Revenue Recognition Piedmont's revenues consist of the following: Rental and tenant reimbursement income - consists of revenue from leases with Piedmont's tenants, as well as reimbursements for services prescribed by such leases. Piedmont evaluates contracts at commencement to determine if the contract contains a lease. If a contract is determined to contain a lease, the lease is evaluated to determine whether it is an operating, sales-type, or a direct financing lease. All of Piedmont's leases where Piedmont is the lessor are for the lessee's use of space in Piedmont's commercial office properties and are classified as operating leases. In most lease arrangements, Piedmont finances improvements to leased space and is deemed the owner of the tenant improvements. The determination of who owns the improvements, whether payments to tenants constitute lease incentives or tenant improvements, and the timing of revenue recognition requires the exercise of significant judgment based on the facts and circumstances of the specific lease arrangement and is not based on any one factor. When evaluating whether Piedmont or its tenant owns the improvements, management considers a number of factors, including, among other things: • whether the tenant is obligated by the terms of the lease agreement to construct or install the leasehold improvements as a condition of the lease; • whether the landlord can require the lessee to make specified improvements or otherwise enforce its economic rights to those assets; • whether the tenant is required to provide the landlord with documentation supporting the cost of tenant improvements prior to reimbursement by the landlord; • whether the landlord is obligated to fund cost overruns for the construction of leasehold improvements; • whether the leasehold improvements are unique to the tenant or could reasonably be used by other parties; and • whether the estimated economic life of the leasehold improvements is long enough to allow for a significant residual value that could benefit the landlord at the end of the lease term. These tenant improvements are recorded as capital assets by Piedmont and depreciated, typically over the lease term. Payments made by tenants for tenant improvements owned by Piedmont are treated as deferred income and amortized into rental and tenant reimbursement revenue over the lease term. The timing of rental revenue recognition is largely dependent on our conclusion as to whether Piedmont, or its tenant, is the owner of tenant improvements at the leased property. When Piedmont owns the tenant improvements, rental revenue recognition begins when the tenant takes possession of or controls the finished space, which is typically when the improvements being recorded as Piedmont's asset are substantially complete. In some instances, Piedmont may cede control of the leased space to the tenant to be responsible for tenant-owned improvements for the space. In such arrangements, payments made by Piedmont to its tenant are treated as lease incentives and amortized as a reduction to rental and tenant reimbursement revenue over the lease term, which typically begins once the tenant takes possession of the unimproved space. Lease payments are typically comprised of both fixed base rental payments and separately billed variable lease payments for reimbursement of services performed by Piedmont for the tenant as prescribed by the lease. Fixed base rental payments, as well as any fixed portion of reimbursement income, are recognized on a straight-line basis over the lease term. Tenant reimbursements are recognized as revenue in the period that the related operating cost is incurred. Rents and tenant reimbursements collected in advance are recorded as deferred income in the accompanying consolidated balance sheets. Property management fee revenue - consists of revenue earned by Piedmont related to operating and managing office properties owned by other third-parties. Such income is within the scope of ASC 606, Revenue from Contracts with Customers ("ASC 606"). Because property management services represent a performance obligation that is satisfied over the length of the contract, not at any specific point in time, and has the same measure of transfer (time elapsed), property management fee revenue is recognized over time. Any variable consideration transferred as part of these management agreements is recognized in the quarter that the underlying cash receipts are collected, consistent with the allocation objective of allocating the transaction price in an amount that depicts the amount of consideration to which Piedmont expects to be entitled in exchange for transferring the promised service to the customer. Other property related income - consists of all other property related income from Piedmont's customers (tenants) that is not derived from a contract meeting the definition of a lease and is therefore also within the scope of ASC 606. Examples of such income include parking revenue and income from licenses with unrelated third-parties to place antennae and/or fiber optic cables in or on Piedmont's buildings. These services also represent a performance obligation that is satisfied over the length of the contract, not at any specific point in time, and has the same measure of transfer (time elapsed); therefore, revenue related to these licenses is also recognized over time. Gains on the sale of real estate assets, like all non-lease related revenue, are subject to a five-step model requiring that Piedmont identify the contract with the customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue upon satisfaction of the performance obligations. In circumstances where Piedmont contracts to sell a property with material post-sale involvement, such involvement must be accounted for as a separate performance obligation in the contract and a portion of the sales price allocated to each performance obligation. When the post-sale involvement performance obligation is satisfied, the portion of the sales price allocated to it will be recognized as gain on sale of real estate assets. Property dispositions with no continuing involvement will continue to be recognized upon closing of the sale. In circumstances where Piedmont extends seller financing as part of a sale of real estate assets, Piedmont assesses the collectibility of the notes receivable as of each reporting period end. Notes receivable that are deemed to be uncollectible or fully i

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt During the year ended December 31, 2023 , Piedmont entered into a new, one-year, $215 million, floating-rate, unsecured term loan facility (the “$215 Million Unsecured 2023 Term Loan”) and issued $600 million in aggregate principal amount of 9.250% senior notes due July 20, 2028 (the “$600 Million Unsecured Senior Notes due 2028”). The $600 Million Unsecured Senior Notes due 2028 are fully and unconditionally guaranteed by Piedmont. Interest is payable semi-annually on January 20 and July 20 of each year commencing January 20, 2024, and is subject to adjustment if Piedmont's corporate credit rating with either Moody’s Investors Services Inc. or S&P Global Ratings falls below investment grade (i.e. BBB-/Baa3). The $600 Million Unsecured Senior Notes due 2028 are subject to typical covenants that, subject to certain exceptions, include: (a) a limitation on the ability of Piedmont and Piedmont OP to, among other things, incur additional secured and unsecured indebtedness; (b) a limitation on the ability of Piedmont and Piedmont OP to merge, consolidate, sell, lease or otherwise dispose of their properties and assets substantially as an entirety; and (c) a requirement that Piedmont maintain a pool of unencumbered assets. Also during the year ended December 31, 2023 , Piedmont: • fully repaid its $350 Million Unsecured Senior Notes that matured on June 1, 2023; • redeemed and repaid (using proceeds from the $600 Million Unsecured Senior Notes due 2028) approximately $350 million of its $400 Million Senior Notes due 2024 through a tender offer, resulting in the recognition of an approximately $0.8 million of loss on early extinguishment of debt; and, • repaid $100 million of the $200 Million Unsecured 2022 Term Loan Facility, scheduled to mature in December 2024. On January 30, 2024, Piedmont: • entered into a new, three-year, $200 Million unsecured syndicated bank term loan, due January 30, 2027 at Adjusted Daily Secured Overnight Financing Rate ("SOFR") plus 130 basis points; • paid off the remaining $100 million of the $200 Million Unsecured 2022 Term Loan Facility; • repaid $190 million of the $215 Million Unsecured 2023 Term Loan that was scheduled to mature on January 31, 2024; and, • extended the remaining $25 million of the $215 Million Unsecured 2023 Term Loan to January 31, 2025. As a result of the above refinancing activity, as of the date of this filing, Piedmont has approximately $325 million of unsecured debt with final maturities over the next three years. Finally, during the year ended December 31, 2023 , Piedmont amended its $250 million, floating-rate, unsecured term loan facility (the "$250 Million Unsecured 2018 Term Loan") to convert the reference interest rate from LIBOR to SOFR, along with the various other related amendments necessary to affect this conversion. The following table summarizes the terms of Piedmont’s indebtedness outstanding as of December 31, 2023 and 2022, including net discounts/premiums and unamortized debt issuance costs (in thousands): Facility (1) Stated Rate Effective Rate (2) Maturity Amount Outstanding as of 2023 2022 Secured (Fixed) $197 Million Fixed-Rate Mortgage 4.10 % 4.10 % 10/1/2028 $ 195,879 $ 197,000 195,879 197,000 Unsecured (Variable and Fixed) $350 Million Unsecured Senior Notes due 2023 3.40 % 3.43 % 6/01/2023 — 350,000 $215 Million Unsecured 2023 Term Loan SOFR + 1.30% 6.71 % (3) 1/31/2024 (4) 215,000 — $400 Million Unsecured Senior Notes due 2024 4.45 % 4.10 % 3/15/2024 (5) 50,154 400,000 $200 Million Unsecured 2022 Term Loan Facility SOFR + 1.25% 6.70 % (3) 12/16/2024 (6) 100,000 200,000 $250 Million Unsecured 2018 Term Loan SOFR + 1.20% 4.79 % 3/31/2025 250,000 250,000 $600 Million Unsecured 2022 Line of Credit (6) SOFR + 1.04% 6.45 % (3) 6/30/2026 (7) 59,000 — $600 Million Unsecured Senior Notes due 2028 9.25 % 9.25 % 7/20/2028 600,000 — $300 Million Unsecured Senior Notes due 2030 3.15 % 3.90 % 8/15/2030 300,000 300,000 $300 Million Unsecured Senior Notes due 2032 2.75 % 2.78 % 4/1/2032 300,000 300,000 Discounts and unamortized debt issuance costs (15,437) (13,319) Subtotal/Weighted Average (8) 5.99 % 1,858,717 1,786,681 Total/Weighted Average (8) 5.82 % $ 2,054,596 $ 1,983,681 (1) All of Piedmont’s outstanding debt as of December 31, 2023 is unsecured and interest-only until maturity, except for the $197 Million Fixed Rate Mortgage secured by 1180 Peachtree Street. (2) Effective rate after consideration of settled or in-place interest rate swap agreements and issuance discounts. (3) On a periodic basis, Piedmont may select from multiple interest rate options, including the prime rate and various-length SOFR locks on all or a portion of the principal. The all-in interest rate associated with each SOFR interest period selection is comprised of the relevant adjusted SOFR rate (comprised of the relevant base SOFR interest rate plus a fixed adjustment of 0.10%) and is subject to an additional spread over the selected rate based on Piedmont’s current credit rating. (4) On January 30, 2024, Piedmont repaid $190 million of the $215 Million Unsecured 2023 Term Loan and extended the remaining balance to January 31, 2025. (5) Piedmont currently intends to repay the outstanding $50.2 million balance on the $400 Million Unsecured Senior Notes due 2024 through selective property dispositions, cash on hand from operations, and/or borrowings under its existing $600 Million Unsecured 2022 Line of Credit. (6) On January 30, 2024, Piedmont repaid the $100 million balance. (7) Piedmont may extend the term for up to one (8) Weighted average is based on contractual balance of outstanding debt and the stated or effectively fixed interest rates as of December 31, 2023. A summary of Piedmont's consolidated principal outstanding for aggregate debt maturities of its indebtedness as of December 31, 2023, is provided below (in thousands): 2024 $ 368,317 2025 253,588 2026 62,738 2027 3,895 2028 781,495 Thereafter 600,000 Total $ 2,070,033 Piedmont’s weighted-average interest rate as of December 31, 2023 and 2022, for the aforementioned borrowings was approximately 5.82% and 3.89%, respectively. Piedmont made interest payments on all indebtedness, including interest rate swap cash settlements, of approximately $81.0 million, $66.1 million, and $49.4 million during the years ended December 31, 2023, 2022, and 2021, respectively. Also, Piedmont capitalized interest of approximately $7.0 million, $4.2 million, and $3.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. As of December 31, 2023, Piedmont believes it was in compliance with all financial covenants associated with its debt instruments. See Note 5 for a description of Piedmont’s estimated fair value of debt as of December 31, 2023.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2023
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, specifically interest rate swap 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 exchange of the underlying notional amount. As of December 31, 2023, Piedmont was party to a total of eight interest rate swap agreements which are designated as effective cash flow hedges and fully hedge the variable cash flows covering the entire outstanding balance of the $250 Million Unsecured 2018 Term Loan through the maturity of the loan in March 2025. The maximum length of time over which Piedmont is hedging its exposure to the variability in future cash flows related to these interest rate swap agreements is 15 months. During the year ended December 31, 2021, Piedmont entered into, and subsequently settled, one forward starting interest rate swap agreement with a notional value of $50 million to hedge the risk of changes in the interest-related cash flows associated with the issuance of the $300 Million Unsecured Senior Notes due 2032 (see Note 3 ). The settlement resulted in a gain of approximately $0.6 million, which was recorded as accumulated OCI and is being amortized as an offset to interest expense over the following ten years. A detail of Piedmont’s interest rate derivatives outstanding as of December 31, 2023 is as follows: Interest Rate Derivatives: Number of Swap Agreements Associated Debt Instrument Notional Amount Effective Date Maturity Date Interest rate swaps 2 $250 Million Unsecured 2018 Term Loan $ 100 3/29/2018 3/31/2025 Interest rate swaps 3 $250 Million Unsecured 2018 Term Loan 75 12/2/2022 3/31/2025 Interest rate swaps 3 $250 Million Unsecured 2018 Term Loan $ 75 12/12/2022 3/31/2025 Total $ 250 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 December 31, 2023 and 2022, respectively, is as follows (in thousands): Interest rate swaps classified as: December 31, 2023 December 31, 2022 Gross derivative assets $ 3,032 $ 4,183 Gross derivative liabilities — — Net derivative assets $ 3,032 $ 4,183 The gain/(loss) on Piedmont's interest rate derivatives, including previously settled forward starting interest rate swaps, that was recorded in OCI and the accompanying consolidated statements of operations as a component of interest expense for the years ended December 31, 2023, 2022, and 2021, respectively, was as follows (in thousands): Interest Rate Swaps in Cash Flow Hedging Relationships: 2023 2022 2021 Amount of gain recognized in OCI $ 2,626 $ 8,202 $ 2,994 Amount of previously recorded gain/(loss) reclassified from OCI into Interest Expense $ 3,365 $ (1,273) $ (2,952) Total amount of Interest Expense presented in the consolidated statements of operations $ (101,258) $ (65,656) $ (51,292) Total amount of Loss on Early Extinguishment of Debt presented in the consolidated statements of operations $ (820) $ — $ — Piedmont estimates that approximately $1.3 million will be reclassified from OCI as a decrease in interest expense over the next twelve months. Piedmont did not recognize any hedge ineffectiveness on its cash flow hedges during the three years ended December 31, 2023. See Note 5 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 liability obligations under the agreements at their termination value of the estimated fair values plus accrued interest. However, as of December 31, 2023, all of Piedmont's interest rate swap agreements are in an asset position. 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 Measurements of Fina

Fair Value Measurements of Financial Instruments	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements of Financial Instruments	Fair Value Measurements of Financial Instruments Piedmont considers its cash and cash equivalents, tenant receivables, notes receivable, 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 December 31, 2023 and 2022, respectively (in thousands): December 31, 2023 December 31, 2022 Financial Instrument Carrying Value Estimated Level Within Fair Value Hierarchy Carrying Value Estimated Level Within Fair Value Hierarchy Assets: Cash and cash equivalents (1) $ 825 $ 825 Level 1 $ 16,536 $ 16,536 Level 1 Tenant receivables, net (1) $ 7,915 $ 7,915 Level 1 $ 4,762 $ 4,762 Level 1 Restricted cash and escrows (1) $ 3,381 $ 3,381 Level 1 $ 3,064 $ 3,064 Level 1 Interest rate swaps $ 3,032 $ 3,032 Level 2 $ 4,183 $ 4,183 Level 2 Liabilities: Accounts payable and accrued expenses (1) $ 49,706 $ 49,706 Level 1 $ 63,225 $ 63,225 Level 1 Debt, net $ 2,054,596 $ 1,953,447 Level 2 $ 1,983,681 $ 1,825,723 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 December 31, 2023 and 2022; however, Piedmont's estimate of its 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 agreements presented above, and as further discussed in Note 4 are classified as “Interest rate swaps” in the accompanying consolidated balance sheets and were carried at estimated fair value as of December 31, 2023 and 2022. 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 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 December 31, 2023 and 2022, 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 derivatives to be Level 3 financial instruments.

Impairment Charges

Impairment Charges	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Impairment Charges	Impairment Charges Goodwill Impairment Charges During the years ended December 31, 2023 and 2022, Piedmont considered the decline in its stock price to be an indicator of impairment and performed several interim impairment assessments of its goodwill balance. These assessments involved comparing the estimated fair value of each of its reporting units (see Note 14 ) to the reporting unit’s carrying value, inclusive of the goodwill balance allocated to the reporting unit. Estimation of the fair value of each reporting unit involved the projection of discounted future cash flows using certain assumptions that are subjective in nature, including assumptions regarding future market rental rates and the number of months it may take to re-lease a property subsequent to the expiration of current lease agreements, as well as future property operating expenses, among other factors. Based on the interim impairment assessments performed during the years ended December 31, 2023 and 2022, Piedmont determined that the carrying values of its Boston, Minneapolis, New York, and Northern Virginia/Washington D.C. reporting units (inclusive of each segment's assigned goodwill balance) exceeded the estimated fair value of each respective reporting unit and recorded goodwill impairment charges of approximately $29.4 million and $16.0 million, respectively, in the accompanying consolidated statement of operations. As the carrying value (inclusive of the assigned goodwill balance) of the Boston, Minneapolis, and Northern Virginia/Washington D.C. reporting units exceeded the estimated fair value of each respective reporting unit by an amount greater than the goodwill balance assigned to each unit, the charges for the Boston, Minneapolis, and Northern Virginia/Washington D.C. reporting units were equal to the goodwill balance that had been assigned to each segment. As this was not the case for the New York segment, the charge related to the New York reporting unit, was calculated based on the amount by which the carrying amount of the New York segment (inclusive of the assigned goodwill balance) exceeded the fair value of the New York reporting unit. The fair value measurements used in the evaluations described above are considered to be Level 3 valuations within the fair value hierarchy as defined by GAAP as the measurements involve projections of discounted future cash flows, which are derived from unobservable assumptions, the most subjective of which are capitalization rates and discount rates for each respective reporting unit. The ranges of discount rates and the capitalization rate used for each segment in the above analyses, at the respective time the analyses were performed, were as follows: Range of Discount Rates Range of Capitalization Rates Reporting Unit Valuation Date Low High Low High Boston December 31, 2023 8.25% 9.75% 8.25% 9.00% Minneapolis September 30, 2023 8.50% 9.25% 8.50% 9.00% New York December 31, 2023 9.50% 9.50% 9.00% 9.00% Northern Virginia/Washington D.C. December 31, 2022 8.50% 9.50% 8.25% 9.25% Impairment Losses on Real Estate Assets Piedmont recorded the following impairment losses on real estate assets for the years ended December 31, 2023, 2022, and 2021 (in thousands): 2023 2022 2021 9320 Excelsior Boulevard $ — $ 10,000 $ — Two Pierce Place — — 41,000 Total impairment loss on real estate assets $ — $ 10,000 $ 41,000 Management shortened the intended hold period for each of the above buildings and in doing so, 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 calculated as the difference between the carrying value of the asset and the estimated fair value less costs to sell. The estimated fair values were determined based on net contract prices with unrelated, third-party purchasers for each respective building. 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. The Two Pierce Place building was subsequently sold during the year ended December 31, 2022.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments Under Existing Lease Agreements As a recurring part of its business, Piedmont is typically required under its executed lease agreements to fund 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. As of December 31, 2023, Piedmont had one individually significant unrecorded tenant allowance commitment greater than $10 million. These commitments will be capitalized as the related expenditures are incurred. 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 different interpretations of language in the lease agreements from that made by Piedmont, whic h could result in requests for refunds of previously recognized tenant reimbursement revenues, resulting in financial loss to Piedmont. There were no such reductions during the three years ended December 31, 2023. Litigation Piedmont is from time to time a party to legal proceedings, which arise in the ordinary course of its business. None of these ordinary course legal proceedings are reasonably likely to have a material adverse effect on results of operations or financial condition. Piedmont is not aware of any such legal proceedings contemplated by governmental authorities.

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock Based Compensation	Stock Based Compensation Annually, the Compensation Committee of Piedmont's Board of Directors has granted deferred stock award units to certain employees at its discretion. Employee awards typically vest ratably over three Certain management employees' long-term equity incentive program is split between these deferred stock award units described above and a multi-year performance share program whereby actual awards are contingent upon Piedmont's total stockholder return ("TSR") performance relative to the TSR of a peer group of office REITs. The target incentives for these employees, as well as the peer group to be used for comparative purposes, are predetermined by the board of directors, advised by an outside compensation consultant. The number of shares earned, if any, are determined at the end of the multi-year performance period (or upon termination) and vest immediately. In the event that a participant's employment is terminated prior to the end of the multi-year period, in certain circumstances the participant may be entitled to a pro-rated award based on Piedmont's TSR relative performance as of the termination date. The grant date fair value of the multi-year performance share awards is estimated using the Monte Carlo valuation method and is recognized ratably over the performance period. A rollforward of Piedmont's equity based award activity for the year ended December 31, 2023 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested and Potential Stock Awards as of December 31, 2022 729,424 $ 19.21 Deferred Stock Awards Granted 987,094 $ 9.60 Performance Stock Awards Granted 424,922 $ 12.37 Change in Estimated Potential Share Awards based on TSR Performance (573,729) $ 14.48 Performance Stock Awards Vested (90,064) $ 25.83 Deferred Stock Awards Vested (366,466) $ 14.87 Deferred Stock Awards Forfeited (16,884) $ 11.26 Unvested and Potential Stock Awards as of December 31, 2023 1,094,297 $ 11.35 The following table provides additional information regarding stock award activity during the years ended 2023, 2022, and 2021 (in thousands except for per share amounts): 2023 2022 2021 Weighted-Average Grant Date Fair Value per share of Deferred Stock Granted During the Period $ 9.60 $ 16.30 $ 17.24 Total Grant Date Fair Value of Deferred Stock Vested During the Period $ 5,448 $ 6,414 $ 5,242 Share-based Liability Awards Paid During the Period (1) $ — $ 5,481 $ 3,610 (1) Amounts reflect the issuance of performance share awards related to the 2019-21 and 2018-20 Performance Share Plans during the years ended December 31, 2022, and 2021, respectively. A detail of Piedmont’s outstanding stock awards and programs as of December 31, 2023 is as follows: Date of grant Type of Award Net Shares Granted (1) Grant Vesting Schedule Unvested and Potential Shares as of December 31, 2023 May 3, 2019 Deferred Stock Award 26,385 (2) $ 21.04 Of the shares granted, 20% vested or will vest on July 1, 2020, 2021, 2022, 2023 and 2024, respectively. 9,505 February 17, 2021 Deferred Stock Award 211,595 $ 17.15 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on February 17, 2022, 2023, and 2024, respectively. 54,088 February 18, 2021 Fiscal Year 2021-2023 Performance Share Program — $ 23.04 Shares awarded, if any, will vest immediately upon determination of award in 2024. — (3) February 10, 2022 Deferred Stock Award 170,369 $ 16.85 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on February 10, 2023, 2023, and 2025, respectively. 106,472 February 17, 2022 Fiscal Year 2022-2024 Performance Share Program — $ 17.77 Shares awarded, if any, will vest immediately upon determination of award in 2025. 91,136 (3) February 13, 2023 Deferred Stock Award 392,991 $ 10.55 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on February 13, 2024, 2025, 2026, respectively. 314,629 February 23, 2023 Fiscal Year 2023-2025 Performance Share Program — $ 12.37 Shares awarded, if any, will vest immediately upon determination of award in 2026. — (3) February 23, 2023 Deferred Stock Award 413,433 $ 9.47 Of the shares granted, 25% vested or will vest on February 23, 2024, 2025, 2026, and 2027 respectively. 396,707 May 10, 2023 Deferred Stock Award-Board of Directors 121,760 $ 6.57 Of the shares granted, 100% will vest on the earlier of the 2024 Annual Meeting or May 10, 2024. 121,760 Total 1,094,297 (1) Amounts reflect the total original grant to employees and independent directors, net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations through December 31, 2023. (2) Includes a special, one-time deferred stock award to Piedmont's Chief Executive Officer effective July 1, 2019, the date of his promotion to the position, which vests in ratable installments over a five year period beginning July 1, 2020. (3) Estimated based on Piedmont's cumulative TSR for the respective performance period through December 31, 2023. Share estimates are subject to change in future periods based upon Piedmont's relative TSR performance compared to its peer group of office REITs. During the years ended December 31, 2023, 2022, and 2021, Piedmont recognized approximately $8.1 million, $8.8 million and $11.0 million of compensation expense related to stock awards, of which approximately $8.1 million, $7.7 million and $9.7 million related to the amortization of unvested shares and potential stock awards and the fair value adjustment for liability awards, respectively. During the year ended December 31, 2023, a total of 275,740 shares (net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations) were issued to employees and independent directors. As of December 31, 2023, approximately $11.4 million of unrecognized compensation cost related to unvested and potential stock awards remained, which Piedmont will record in its consolidated statements of operations over a weighted-average vesting period of approximately one year.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share There are no adjustments to “Net income/(loss) applicable to Piedmont” for the diluted earnings per share computations. Net income/(loss) per share-basic is calculated as net income/(loss) available to common stockholders divided by the weighted average number of common shares outstanding during the period. Net income/(loss) per share-diluted is calculated as net income/(loss) 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 and potential stock awards vested and resulted in additional common shares outstanding. Unvested and potential stock awards which are determined to be anti-dilutive are not included in the calculation of diluted weighted average common shares. For each of the years ended December 31, 2023, 2022, and 2021, Piedmont calculated and excluded weighted average outstanding anti-dilutive shares of approximately 1,030,824, 421,005, and 1,114,025, respectively. The following table reconciles the denominator for the basic and diluted earnings per share computations shown on the consolidated statements of income for the years ended December 31, 2023, 2022, and 2021, respectively (in thousands): 2023 2022 2021 Weighted-average common shares—basic 123,659 123,351 123,978 Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards — 173 — Weighted-average common shares—diluted 123,659 123,524 123,978

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Operating Leases	Operating Leases Piedmont’s real estate assets are leased to tenants under operating leases for which the terms vary, including certain provisions to extend the lease term, options for early terminations subject to specified penalties, and other terms and conditions as negotiated. Piedmont retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. Amounts required as security deposits vary depending upon the terms of the respective leases and the creditworthiness of the tenant; however, generally they are not significant. Exposure to credit risk exists to the extent that tenant receivables exceed this amount. Security deposits liabilities related to tenant leases are included in accounts payable, accrued expenses, and accrued capital expenditures in the accompanying consolidated balance sheets. The future minimum rental income from Piedmont’s investment in real estate assets under non-cancelable operating leases as of December 31, 2023 is presented below (in thousands): Years ending December 31: 2024 $ 424,131 2025 401,657 2026 362,576 2027 322,114 2028 275,559 Thereafter 1,079,279 Total $ 2,865,316 Piedmont recognized the following fixed and variable lease payments, which together comprised rental and tenant reimbursement revenue in the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022, and 2021, respectively, as follows (in thousands): 2023 2022 2021 Fixed payments $ 454,405 $ 451,403 $ 427,174 Variable payments 100,908 94,338 87,445 Total Rental and Tenant Reimbursement Revenue $ 555,313 $ 545,741 $ 514,619 Operating leases where Piedmont is the lessee relat e primarily to office space in buildings owned by third parties and managed by Piedmont. Piedmont's right to use asset lease liability . For the three years ended December 31, 2023, Piedmont recognized approximately $0.1 million of operating lease costs, respectively. As of December 31, 2023, the lease term of Piedmont's right of use asset is one year, and the discount rate is 3.86%.
Operating Leases	Operating Leases Piedmont’s real estate assets are leased to tenants under operating leases for which the terms vary, including certain provisions to extend the lease term, options for early terminations subject to specified penalties, and other terms and conditions as negotiated. Piedmont retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. Amounts required as security deposits vary depending upon the terms of the respective leases and the creditworthiness of the tenant; however, generally they are not significant. Exposure to credit risk exists to the extent that tenant receivables exceed this amount. Security deposits liabilities related to tenant leases are included in accounts payable, accrued expenses, and accrued capital expenditures in the accompanying consolidated balance sheets. The future minimum rental income from Piedmont’s investment in real estate assets under non-cancelable operating leases as of December 31, 2023 is presented below (in thousands): Years ending December 31: 2024 $ 424,131 2025 401,657 2026 362,576 2027 322,114 2028 275,559 Thereafter 1,079,279 Total $ 2,865,316 Piedmont recognized the following fixed and variable lease payments, which together comprised rental and tenant reimbursement revenue in the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022, and 2021, respectively, as follows (in thousands): 2023 2022 2021 Fixed payments $ 454,405 $ 451,403 $ 427,174 Variable payments 100,908 94,338 87,445 Total Rental and Tenant Reimbursement Revenue $ 555,313 $ 545,741 $ 514,619 Operating leases where Piedmont is the lessee relat e primarily to office space in buildings owned by third parties and managed by Piedmont. Piedmont's right to use asset lease liability . For the three years ended December 31, 2023, Piedmont recognized approximately $0.1 million of operating lease costs, respectively. As of December 31, 2023, the lease term of Piedmont's right of use asset is one year, and the discount rate is 3.86%.

Property Dispositions and Asset

Property Dispositions and Assets Held for Sale	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Property Dispositions and Assets Held for Sale	Property Dispositions and Assets Held for Sale Property Dispositions None of Piedmont's property dispositions during the three years ended December 31, 2023 met the criteria to be reported as discontinued operations. The operational results and gain on sale of real estate assets are presented as continuing operations in the accompanying consolidated statements of operations. Details of such properties sold are presented below (in thousands): Buildings Sold Location Reportable Segment Date of Sale Gain on Sale of Real Estate Assets Net Sales Proceeds Two Pierce Place Itasca, Illinois Other January 25, 2022 $ 1,741 $ 24,272 225 and 235 Presidential Way Boston, Massachusetts Boston January 28, 2022 $ 49,218 $ 119,609 Cambridge Portfolio (1) Cambridge, Massachusetts Boston December 2022 $ 102,570 $ 155,307 (2) (1) The Cambridge Portfolio is comprised of the One Brattle Square building and the 1414 Massachusetts Avenue building in Cambridge, Massachusetts. The closing date for One Brattle Square was December 13, 2022, and the sale of 1414 Massachusetts Avenue closed on December 20, 2022. (2)

Supplemental Disclosures for th

Supplemental Disclosures for the Statement of Consolidated Cash Flows	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures for the Statement of Consolidated Cash Flows	Supplemental Disclosures for the Statement of Consolidated Cash Flows Certain noncash investing and financing activities for the years ended December 31, 2023, 2022, and 2021 (in thousands) are outlined below: 2023 2022 2021 Tenant improvements funded by tenants $ 33,472 $ 2,961 $ 48,842 Accrued capital expenditures and deferred lease costs $ 28,173 $ 24,379 $ 24,817 Change in accrued dividends $ (10,215) $ (691) $ (365) Change in accrued share repurchases as part of an announced plan $ — $ — $ (685) Change in accrued deferred financing costs $ (189) $ 44 $ — The following table provides a reconciliation of cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statements of cash flows for the years ended December 31, 2023, 2022, and 2021 to the consolidated balance sheets for the respective period (in thousands): 2023 2022 2021 Cash and cash equivalents, beginning of period $ 16,536 $ 7,419 $ 7,331 Restricted cash and escrows, beginning of period 3,064 1,441 1,883 Total cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statement of cash flows, beginning of period $ 19,600 $ 8,860 $ 9,214 Cash and cash equivalents, end of period $ 825 $ 16,536 $ 7,419 Restricted cash and escrows, end of period 3,381 3,064 1,441 Total cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statement of cash flows, end of period $ 4,206 $ 19,600 $ 8,860 Amounts in restricted cash and escrows typically represent: escrow accounts required for future property repairs; escrow accounts for the payment of real estate taxes as required under certain of Piedmont's debt agreements; earnest money deposited by a buyer to secure the purchase of one of Piedmont's properties; or security or utility deposits held for tenants as a condition of their lease agreement.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Piedmont’s income tax basis net income/(loss) for the years ended December 31, 2023, 2022, and 2021, is calculated as follows (in thousands): 2023 2022 2021 GAAP basis financial statement net income/(loss) $ (48,387) $ 146,830 $ (1,153) Increase/(decrease) in net income/(loss) resulting from: Depreciation and amortization expense recognized for financial reporting purposes in excess of amounts recognized for income tax purposes 93,791 96,694 75,969 Rental income accrued for income tax purposes less than amounts for financial reporting purposes (18,817) (26,211) (18,798) Net amortization of above/below-market lease intangibles for income tax purposes in excess of amounts for financial reporting purposes (12,049) (13,022) (9,465) Gain on disposal of property for financial reporting purposes in excess of amounts for income tax purposes — (137,871) — Taxable income or loss of Piedmont Washington Properties, Inc., in excess of amount for financial reporting purposes 6,212 3,111 3,518 Other expenses, including impairment charges, for financial reporting purposes in excess of amounts for income tax purposes 40,173 30,310 51,095 Taxable income for POH in excess of/(less than) amount for financial reporting purposes 61 — (654) Income tax basis net income, prior to dividends paid deduction $ 60,984 $ 99,841 $ 100,512 For income tax purposes, dividends to common stockholders are characterized as ordinary income, capital gains, or as a return of a stockholder’s invested capital. The composition of Piedmont’s distributions per common share is presented below: 2023 2022 2021 Ordinary income 63.22 % 82.85 % 96.34 % Return of capital 34.69 % 3.79 % 3.66 % Capital gains 2.08 % 13.36 % — % 100 % 100 % 100 %

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information Piedmont's President and Chief Executive Officer has been identified as Piedmont's chief operating decision maker ("CODM"), as defined by GAAP. The CODM evaluates Piedmont's portfolio and assesses the ongoing operations and performance of its properties utilizing the following geographic segments: Atlanta, Dallas, Orlando, Northern Virginia/Washington, D.C., Minneapolis, New York, and Boston. These operating segments are also Piedmont’s reportable segments. As of December 31, 2023, Piedmont also owned two properties in Houston that do not meet the definition of an operating or reportable segment as the CODM does not regularly review these properties for purposes of allocating resources or assessing performance. Further, Piedmont does not maintain a significant presence or anticipate further investment in this market. These two properties are the primary contributors to accrual-based net operating income ("NOI") included in "Other" below. During the periods presented, there have been no material inter-segment transactions. The accounting policies of the reportable segments are the same as Piedmont's accounting policies. Accrual-based net operating income ("NOI") by geographic segment is the primary performance measure reviewed by Piedmont's CODM to assess operating performance and consists only of revenues and expenses directly related to real estate rental operations. NOI is calculated by deducting property operating costs from lease revenues and other property related income. NOI reflects property acquisitions and dispositions, occupancy levels, rental rate increases or decreases, and the recoverability of operating expenses. Piedmont's calculation of NOI may not be directly comparable to similarly titled measures calculated by other REITs. Asset value information and capital expenditures by segment are not reported because the CODM does not use these measures to assess performance. The following table presents accrual-based lease revenue and other property related income included in NOI by geographic reportable segment (in thousands): Years Ended December 31, 2023 2022 2021 Atlanta $ 161,310 $ 131,230 $ 98,330 Dallas 111,592 109,298 110,729 Orlando 61,688 58,203 54,603 Northern Virginia/Washington, D.C. 60,324 63,534 60,329 Minneapolis 63,713 61,530 61,563 New York 54,040 56,189 52,454 Boston 42,847 59,212 65,445 Total reportable segments 555,514 539,196 503,453 Other 22,242 24,570 25,257 Total Revenues $ 577,756 $ 563,766 $ 528,710 The following table presents NOI by geographic reportable segments (in thousands): Years Ended December 31, 2023 2022 2021 Atlanta $ 103,475 $ 82,878 $ 62,772 Dallas 64,566 62,444 66,155 Orlando 36,639 35,327 33,449 Northern Virginia/Washington, D.C. 36,334 39,994 36,914 Minneapolis 33,302 31,886 32,538 New York 29,357 31,252 30,049 Boston 25,703 39,101 45,587 Total reportable segments 329,376 322,882 307,464 Other 12,969 14,685 10,163 Total NOI $ 342,345 $ 337,567 $ 317,627 A reconciliation of Net income/(loss) applicable to Piedmont to NOI is presented below (in thousands): Years Ended December 31, 2023 2022 2021 Net income/(loss) applicable to Piedmont $ (48,387) $ 146,830 $ (1,153) Management fee revenue (1) (1,004) (1,004) (1,269) Depreciation and amortization 236,214 224,553 206,608 Impairment charges 29,446 25,981 41,000 General and administrative expenses 29,190 29,127 30,252 Interest expense 101,258 65,656 51,292 Other income (3,256) (1,847) (9,089) Loss on early extinguishment of debt 820 — — Gain on sale of real estate assets (1,946) (151,729) — Net loss applicable to noncontrolling interests 10 — (14) NOI $ 342,345 $ 337,567 $ 317,627 (1) Presented net of related operating expenses incurred to earn such management fee revenue. Such operating expenses are a component of property operating costs in the accompanying consolidated statements of operations.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Refinancing Activity On January 30, 2024, Piedmont entered into a new $200 million syndicated bank term loan maturing in January 2027; paid off the remaining $100 million outstanding under the $200 Million Unsecured 2022 Term Loan Facility; repaid $190 million of the $215 Million Unsecured 2023 Term Loan and extended the remaining balance to January of 2025. See Note 3 above for further details. Declaration of Dividend for the First Quarter 2024 On February 1, 2024, the board of directors declared a dividend for the first quarter 2024 in the amount of $0.125 per share on its common stock to stockholders of record as of the close of business on February 23, 2024, payable on March 15, 2024.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Schedule III - Real Estate and Accumulated Depreciation December 31, 2023 (dollars in thousands) Initial Cost to Piedmont Gross Amount of Which Carried at December 31, 2023 Description (1) Location Ownership Encumbrances Land Buildings and Total (2) Costs Capitalized Subsequent to Acquisition (3) Land Buildings and Total (4) Accumulated Date of Date Life on which Depreciation and Amortization in Latest Statements of Comprehensive Income is Computed (in years) (5) 1430 ENCLAVE PARKWAY Houston, TX 100 % None 7,100 37,915 45,015 7,248 5,506 46,757 52,263 26,315 1994 12/21/2000 0 - 40 CRESCENT RIDGE II Minnetonka, MN 100 % None 7,700 45,154 52,854 16,771 8,021 61,604 69,625 32,336 2000 12/21/2000 0 - 40 90 CENTRAL STREET Boxborough, MA 100 % None 3,642 29,497 33,139 3,386 3,642 32,883 36,525 17,524 2001 5/3/2002 0 - 40 6031 CONNECTION DRIVE Irving, TX 100 % None 3,157 43,656 46,813 16,000 3,157 59,656 62,813 27,455 1999 8/15/2002 0 - 40 6021 CONNECTION DRIVE Irving, TX 100 % None 3,157 42,662 45,819 12,169 3,157 54,831 57,988 31,848 2000 8/15/2002 0 - 40 6011 CONNECTION DRIVE Irving, TX 100 % None 3,157 29,034 32,191 18,524 3,157 47,558 50,715 20,540 1999 8/15/2002 0 - 40 US BANCORP CENTER Minneapolis, MN 100 % None 11,138 175,629 186,767 38,695 11,138 214,324 225,462 111,336 2000 5/1/2003 0 - 40 GLENRIDGE HIGHLANDS TWO Atlanta, GA 100 % None 6,662 69,031 75,693 (231) 6,662 68,800 75,462 32,759 2000 8/1/2003 0 - 40 400 VIRGINIA AVE Washington, DC 100 % None 22,146 49,740 71,886 6,646 22,146 56,386 78,532 26,510 1985 11/19/2003 0 - 40 4250 NORTH FAIRFAX DRIVE Arlington, VA 100 % None 13,636 70,918 84,554 19,047 13,636 89,965 103,601 46,206 1998 11/19/2003 0 - 40 1225 EYE STREET Washington, DC 98.1 % None 21,959 47,602 69,561 10,084 21,959 57,686 79,645 31,747 1986 11/19/2003 0 - 40 1201 EYE STREET Washington, DC 98.6 % None 31,985 63,139 95,124 13,756 31,985 76,895 108,880 37,854 2001 11/19/2003 0 - 40 60 BROAD STREET New York, NY 100 % None 32,522 168,986 201,508 99,451 60,708 240,251 300,959 84,807 1962 12/31/2003 0 - 40 3100 CLARENDON BOULEVARD Arlington, VA 100 % None 11,700 69,705 81,405 52,948 11,791 122,562 134,353 53,705 1987 12/9/2004 0 - 40 LAS COLINAS CORPORATE CENTER I Irving, TX 100 % None 3,912 18,830 22,742 2,487 2,543 22,686 25,229 7,329 1998 8/31/2006 0 - 40 LAS COLINAS CORPORATE CENTER II Irving, TX 100 % None 4,496 29,881 34,377 987 2,543 32,821 35,364 14,931 1998 8/31/2006 0 - 40 ONE MERIDIAN CROSSINGS Richfield, MN 100 % None 2,919 24,398 27,317 (160) 2,919 24,238 27,157 8,058 1997 10/1/2010 0 - 40 Initial Cost Gross Amount of Which Carried at December 31, 2023 Description (1) Location Ownership Encumbrances Land Buildings and Total (2) Costs Capitalized Subsequent to Acquisition (3) Land Buildings and Total (4) Accumulated Date of Date Life on which Depreciation and Amortization in Latest Statements of Comprehensive Income is Computed (in years) (5) TWO MERIDIAN CROSSINGS Richfield, MN 100 % None 2,661 25,742 28,403 1,930 2,661 27,672 30,333 8,579 1998 10/1/2010 0 - 40 THE MEDICI Atlanta, GA 100 % None 1,780 11,510 13,290 5,927 1,780 17,437 19,217 7,780 2008 6/7/2011 0 - 40 400 TOWNPARK Lake Mary, FL 100 % None 2,570 20,555 23,125 4,865 2,570 25,420 27,990 10,495 2008 11/10/2011 0 - 40 ARLINGTON GATEWAY Arlington, VA 100 % None 36,930 129,070 166,000 6,235 36,930 135,305 172,235 39,897 2005 3/4/2013 0 - 40 5 & 15 WAYSIDE ROAD Burlington, MA 100 % None 7,190 55,445 62,635 34,682 7,190 90,127 97,317 22,155 1999 / 2001 3/22/2013 0 - 40 6565 MACARTHUR BOULEVARD Irving, TX 100 % None 4,820 37,767 42,587 6,458 4,820 44,225 49,045 13,607 1998 12/5/2013 0 - 40 ONE LINCOLN PARK Dallas, TX 100 % None 6,640 44,810 51,450 12,098 6,640 56,908 63,548 13,849 1999 12/20/2013 0 - 40 161 CORPORATE CENTER Irving, TX 100 % None 2,020 10,680 12,700 499 2,020 11,179 13,199 2,922 1998 12/30/2013 0 - 40 5 WALL STREET Burlington, MA 100 % None 9,560 50,276 59,836 6,108 9,560 56,384 65,944 15,390 2008 6/27/2014 0 - 40 1155 PERIMETER CENTER WEST Atlanta, GA 100 % None 5,870 66,849 72,719 23,884 5,870 90,733 96,603 21,694 2000 8/28/2014 0 - 40 500 TOWNPARK Lake Mary, FL 100 % None 2,147 21,925 24,072 5,123 2,147 27,048 29,195 6,667 2016 N/A 0 - 40 PARK PLACE ON TURTLE CREEK Dallas, TX 100 % None 4,470 38,048 42,518 8,766 4,470 46,814 51,284 11,589 1986 1/16/2015 0 - 40 80 CENTRAL STREET Boxborough, MA 100 % None 1,980 8,930 10,910 3,168 1,980 12,098 14,078 2,632 1988 7/24/2015 0 - 40 ENCLAVE PLACE Houston, TX 100 % None 1,890 60,094 61,984 35,319 1,890 95,413 97,303 21,135 2015 N/A 0 - 40 200 SOUTH ORANGE AVENUE Orlando, FL 100 % None 11,660 139,015 150,675 46,241 11,660 185,256 196,916 40,236 1988 11/4/2015 0 - 40 GALLERIA 300 Atlanta, GA 100 % None 4,000 73,554 77,554 11,030 4,000 84,584 88,584 21,884 1987 11/4/2015 0 - 40 GLENRIDGE HIGHLANDS ONE Atlanta, GA 100 % None 5,960 50,013 55,973 8,070 5,960 58,083 64,043 12,862 1998 11/24/2015 0 - 40 CNL CENTER I Orlando, FL 99 % None 6,470 77,858 84,328 5,780 6,470 83,638 90,108 19,367 1999 8/1/2016 0 - 40 CNL CENTER II Orlando, FL 99 % None 4,550 55,609 60,159 2,157 4,550 57,766 62,316 14,573 2006 8/1/2016 0 - 40 ONE WAYSIDE ROAD Boston, MA 100 % None 6,240 57,124 63,364 2,029 6,240 59,153 65,393 13,200 1997 / 2008 8/10/2016 0 - 40 Initial Cost Gross Amount of Which Carried at December 31, 2023 Description (1) Location Ownership Encumbrances Land Buildings and Total (2) Costs Capitalized Subsequent to Acquisition (3) Land Buildings and Total (4) Accumulated Date of Date Life on which Depreciation and Amortization in Latest Statements of Comprehensive Income is Computed (in years) (5) GALLERIA 200 Atlanta, GA 100 % None 6,470 55,825 62,295 23,490 6,470 79,315 85,785 17,637 1984 10/7/2016 0 - 40 750 WEST JOHN CARPENTER FREEWAY Irving, TX 100 % None 7,860 36,303 44,163 (584) 7,860 35,719 43,579 7,376 1999 11/30/2016 0 - 40 NORMAN POINTE I Bloomington, MN 100 % None 4,358 22,322 26,680 5,275 4,361 27,594 31,955 7,937 2000 12/28/2017 0 - 40 501 WEST CHURCH STREET Orlando, FL 100 % None 2,805 28,119 30,924 277 2,805 28,396 31,201 6,937 2003 2/23/2018 0 - 40 9320 EXCELSIOR BOULEVARD Hopkins, MN 100 % None 3,760 35,289 39,049 (10,466) 3,707 24,876 28,583 10,716 2010 10/25/2018 0 - 40 25 BURLINGTON MALL ROAD Burlington, MA 100 % None 10,230 54,787 65,017 4,480 10,230 59,267 69,497 8,398 1987 12/12/2018 0 - 40 GALLERIA 100 Atlanta, GA 100 % None 7,285 72,449 79,734 5,556 7,285 78,005 85,290 13,634 1982 5/6/2019 0 - 40 GALLERIA 400 Atlanta, GA 100 % None 5,687 92,915 98,602 3,124 5,687 96,039 101,726 13,071 1999 8/23/2019 0 - 40 GALLERIA 600 Atlanta, GA 100 % None 5,418 81,003 86,421 11,452 5,418 92,455 97,873 11,522 2002 8/23/2019 0 - 40 ONE GALLERIA TOWER Dallas, TX 100 % None 5,286 107,767 113,053 16,150 5,286 123,917 129,203 24,254 1982 2/12/2020 0 40 TWO GALLERIA TOWER Dallas, TX 100 % None 3,835 109,605 113,440 7,140 3,836 116,744 120,580 21,200 1985 2/12/2020 0 40 THREE GALLERIA TOWER Dallas, TX 100 % None 6,541 125,490 132,031 2,637 6,541 128,127 134,668 14,521 1991 2/12/2020 0 40 222 SOUTH ORANGE AVENUE Orlando, FL 100 % None 1,899 18,417 20,316 10,798 1,899 29,215 31,114 136 1959 10/29/2020 0 40 999 PEACHTREE STREET Atlanta, GA 100 % None 49,067 156,109 205,176 29,572 49,067 185,681 234,748 21,236 1987 10/22/2021 0 40 1180 PEACHTREE STREET Atlanta, GA 100 % $ 195,879 56,932 389,654 446,586 3,129 56,932 392,783 449,715 24,047 2005 8/10/2022 0 40 UNDEVELOPED LAND PARCELS Various 100 % None 48,667 — 48,667 3,697 45,782 6,582 52,364 183 N/A Various N/A Total—All Properties $ 546,496 $ 3,436,705 $ 3,983,201 $ 663,904 $ 567,244 $ 4,079,861 $ 4,647,105 $ 1,134,578 (1) All of Piedmont's properties are office buildings, except for the separately described Undeveloped Land Parcels. (2) Total initial cost excludes purchase price allocated to intangible lease origination costs and intangible lease liabilities. (3) Includes improvements and carrying costs capitalized subsequent to acquisition, as well as reductions related to write-offs of fully depreciated/amortized capitalized assets and impairment losses on real estate assets. (4) The net carrying value of Piedmont’s total assets for federal income tax purposes is approximately $3.9 billion. (5) Piedmont’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, Tenant Improvements and Lease Intangibles are amortized over the lease term. Generally, Building Improvements are depreciated over 5 - 25 years, Land Improvements are depreciated over 20 - 25 years, and Buildings are depreciated over 40 years. Piedmont Office Realty Trust, Inc. Schedule III - Real Estate and Accumulated Depreciation December 31, 2023 (dollars in thousands) 2023 2022 2021 Real Estate: Balance at the beginning of the year $ 4,506,328 $ 4,206,993 $ 3,891,426 Additions to/improvements of real estate 191,305 565,552 379,516 Assets disposed — (214,728) — Assets impaired (1) — (10,000) (41,000) Write-offs of fully amortized intangible assets (34,419) (26,430) (13,646) Write-offs of fully depreciated assets (16,109) (15,059) (9,303) Balance at the end of the year $ 4,647,105 $ 4,506,328 $ 4,206,993 Accumulated Depreciation and Amortization: Balance at the beginning of the year $ 1,005,704 $ 961,682 $ 835,392 Depreciation and amortization expense 179,402 166,234 149,239 Assets disposed — (80,723) — Write-offs of fully amortized intangible assets (34,419) (26,430) (13,646) Write-offs of fully depreciated assets (16,109) (15,059) (9,303) Balance at the end of the year $ 1,134,578 $ 1,005,704 $ 961,682 (1) Piedmont recognized an impairment loss on the 9320 Excelsior Building during the year ended December 31, 2022, as well as the Two Pierce Place building during the year ended December 31, 2021. (See Note 6 to the accompanying consolidated financial statements).

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (48,387)	$ 146,830	$ (1,153)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation and Principles of Consolidation The consolidated financial statements of Piedmont are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of Piedmont, Piedmont’s wholly-owned subsidiaries, any variable interest entity ("VIE") of 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.
Principles of Consolidation	All inter-company 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 and consequently the assets of the 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. The most significant of these estimates includes the underlying cash flows and holding periods used in assessing impairment, judgements regarding the recoverability of goodwill including the assumptions associated with the capitalization rates and discount rates used in valuing the properties in each reporting unit, and the assessment of the collectibility of receivables. While Piedmont has made, what it believes to be, appropriate accounting estimates based on the facts and circumstances available as of the reporting date, actual results could materially differ from those estimates.
Real Estate Assets	Real Estate Assets Piedmont classifies its real estate assets as long-lived assets held for use or as long-lived assets held for sale. Held for use assets are stated at cost, as adjusted for any impairment loss, less accumulated depreciation. Held for sale assets are carried at lower of depreciated cost or estimated fair value, less estimated costs to sell. Piedmont generally reclassifies assets as held for sale once a sales contract has been executed and earnest money has become non-refundable. Amounts capitalized to real estate assets consist of the cost of acquisition or construction, any tenant improvements or major improvements, betterments that extend the useful life of the related asset, and transaction costs associated with the acquisition of an individual asset that does not qualify as a business combination. All repairs and maintenance are expensed as incurred. Additionally, Piedmont capitalizes interest and other costs such as taxes and insurance while the development, or redevelopment, of a real estate asset is in progress. Piedmont’s real estate assets are depreciated or amortized using the straight-line method over the following useful lives: Buildings 40 years Building improvements 5-25 years Land improvements 20-25 years Tenant allowances Lease term Furniture, fixtures, and equipment 3-10 years Intangible lease assets Lease term Piedmont continually monitors events and changes in circumstances that could indicate that the carrying amounts of the real estate and related intangible assets of operating properties in which Piedmont has an ownership interest, either directly or through investments in joint ventures, may not be recoverable. When indicators of potential impairment are present, management assesses whether the respective carrying values will be recovered from the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition for assets held for use, or from the estimated fair values, less costs to sell, for assets held for sale. In the event that the expected undiscounted future cash flows for assets held for use or the estimated fair value, less costs to sell, for assets held for sale do not exceed the respective asset carrying value, management adjusts such assets to the respective estimated fair values and recognizes an impairment loss. Estimated fair values are calculated based on the following information, depending upon availability, in order of preference: (i) recently quoted market prices, (ii) market prices for comparable properties, or (iii) the present value of undiscounted cash flows, including estimated sales value (which is based on key assumptions such as estimated market rents, lease-up periods, estimated lease terms, and capitalization and discount rates) less estimated selling costs.
Fair Value of Assets and Liabilities of Acquired Properties	Fair Value of Assets and Liabilities of Acquired Properties Upon the acquisition of real properties, Piedmont records the fair value of properties (plus any related acquisition costs) allocated based on relative fair value as tangible assets, consisting of land and building, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases and the value of in-place leases, based on their estimated fair values. Piedmont's property acquisitions typically qualify as asset acquisitions under Accounting Standards Codification ("ASC") 805, Business Combinations . The estimated fair values of the tangible assets of an acquired property are determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land and building based on management’s determination of the estimated fair value of these assets. Management relies on a sales comparison approach using closed land sales and listings in determining the land value, and determines the as-if-vacant estimated fair value of a property using methods similar to those used by independent appraisers. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance, and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates the cost to execute similar leases including leasing commissions, legal, and other related costs. The estimated fair values of above-market and below-market in-place leases are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of market rates for the corresponding in-place leases, measured over a period equal to the remaining terms of the leases, taking into consideration the probability of renewals for any below-market leases. The capitalized above-market and below-market lease values are recorded as intangible lease assets or liabilities and amortized as an adjustment to rental revenues over the remaining terms of the respective leases. The estimated fair values of in-place leases include an estimate of the direct costs associated with obtaining the acquired or "in place" tenant, estimates of opportunity costs associated with lost rentals that are avoided by acquiring an in-place lease. The amount capitalized as a direct cost associated with obtaining a tenant includes commissions, tenant improvements, and other direct costs and is estimated based on management’s consideration of current market costs to execute a similar lease. These direct lease origination costs are included in deferred lease costs in the accompanying consolidated balance sheets and are amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease. These lease intangibles are included in intangible lease assets in the accompanying consolidated balance sheets and are amortized to expense over the remaining terms of the respective leases.
Cash and Cash Equivalents	Cash and Cash Equivalents Piedmont considers all highly-liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents include cash and short-term investments. The majority of Piedmont’s cash and cash equivalents are held at major commercial banks and at times may exceed the Federal Deposit Insurance Corporation limit of $250,000. Short-term investments consist of investments in money market accounts stated at cost, which approximates estimated fair value, and available-for-sale securities associated with Piedmont's non-qualified deferred compensation program carried at estimated fair value.
Tenant Receivables and Straight-line Rent Receivables	Tenant Receivables and Straight-line Rent Receivables Tenant receivables are comprised of rental and reimbursement billings due from tenants, and straight-line rent receivables representing the cumulative amount of future adjustments necessary to present rental income on a straight-line basis. Piedmont evaluates the collectibility of its operating lease receivables on a tenant/lease-specific basis and recognizes changes in the collectibility assessment of its operating lease receivables as a reduction of rental and tenant reimbursement revenues.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts
Restricted Cash and Escrows	Restricted Cash and Escrows Restricted cash and escrows principally relate to the following types of items: • escrow accounts held by lenders to pay future real estate taxes, insurance, debt service, and tenant improvements; • net sales proceeds from property sales held by qualified intermediary for potential Section 1031 exchange; • earnest money paid in connection with future acquisitions; and • security and utility deposits paid by tenants per the terms of their respective leases. Restricted cash and escrows are generally reclassified to other asset or liability accounts upon being used to purchase assets, satisfy obligations, or settle tenant obligations.
Prepaid Expenses and Other Assets	Prepaid Expenses and Other Assets Prepaid expenses and other assets are primarily comprised of the following items: • prepaid property taxes, insurance and operating costs; • receivables which are unrelated to tenants, for example, insurance proceeds receivable from insurers related to casualty losses; and • equipment, furniture and fixtures, and tenant improvements for Piedmont’s corporate office and property management office space, net of accumulated depreciation. Prepaid expenses and other assets will be expensed as utilized or depreciated in the case of Piedmont's corporate assets. Balances without a future economic benefit are expensed as they are identified.
Goodwill	Goodwill Goodwill is the excess of cost of an acquired entity over the amounts specifically assigned to assets acquired and liabilities assumed in purchase accounting for business combinations, and is allocated to each of Piedmont's reporting units. (See Note 14 below for further detail). Piedmont tests the carrying value of the goodwill assigned to each of its reporting units for impairment on an annual basis, or on an interim basis if an event occurs or circumstances change that would indicate it is more likely than not that the fair value of a reporting unit may be less than its carrying value. Such interim circumstances may include, but are not limited to, significant adverse changes in legal factors or in the general business climate, adverse action or assessment by a regulator, unanticipated competition, the loss of key personnel, or persistent declines in an entity’s stock price below the carrying value of the entity. In performing its goodwill impairment assessment, Piedmont compares the estimated fair value of each of its reporting units to the reporting unit’s carrying value. If Piedmont concludes that the fair value of a reporting unit is less than its carrying value, then Piedmont would recognize a goodwill impairment loss equal to the excess of the reporting unit’s carrying amount over its estimated fair value (not to exceed the total goodwill allocated to that reporting unit). Estimation of the fair value of each reporting unit involves projections of discounted future cash flows, which are derived using certain assumptions that are subjective in nature. Piedmont also makes assumptions about future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, and the number of months it takes to re-lease the property, among other factors. As a result of impairment assessments performed during the years ended December 31, 2023 and 2022 Piedmont determined that portions of its goodwill related to various reporting units were impaired, and recorded goodwill impairment charges in each period as further described in Note 6
Interest Rate Derivatives and Risk Management Objective of Using Derivatives	Interest Rate Derivatives Piedmont has periodically entered into interest rate derivative agreements to hedge its exposure to changing interest rates. As of December 31, 2023 and 2022, all of Piedmont's interest rate derivatives were designated as effective cash flow hedges and carried on the balance sheet at estimated fair value. Piedmont reassesses the effectiveness of its derivatives designated as cash flow hedges on a regular basis to determine if they continue to be highly effective and if the forecasted transactions remain highly probable. Piedmont does not use derivatives for trading or speculative purposes. The changes in estimated fair value of interest rate swap agreements designated as effective cash flow hedges are recorded in other comprehensive income (“OCI”), and subsequently reclassified to earnings when the hedged transactions occur. The estimated fair value of the interest rate derivative agreement is recorded as interest rate derivative asset or as interest rate derivative liability in the accompanying consolidated balance sheets. Amounts received or paid under interest rate derivative agreements are recorded as reductions or additions to interest expense in the consolidated statements of operations as incurred. Additionally, when Piedmont settles forward starting swap agreements, any gain or loss is recorded as accumulated other comprehensive income and is amortized to interest expense over the term of the respective notes on a straight line basis (which approximates the effective interest method). Further, Piedmont classifies cash flows from the settlement of hedging derivative instruments in the same category as the underlying exposure which is being hedged. Settlements resulting from the hedge of Piedmont's exposure to interest rate changes are classified as operating cash flows in the accompanying consolidated statements of cash flows. 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, specifically interest rate swap 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.
Deferred Lease Costs	Deferred Lease Costs Deferred lease costs are comprised of costs and incentives incurred to acquire operating leases. In addition to direct costs, deferred lease costs also include intangible lease origination costs related to in-place leases acquired as part of a property acquisition. Deferred lease costs are amortized on a straight-line basis over the terms of the related underlying leases in the accompanying consolidated statements of operations as follows: • Approximately $56.1 million, $57.9 million, and $56.4 million of deferred lease costs are included in amortization expense for the years ended December 31, 2023, 2022, and 2021, respectively; and • Approximately $4.4 million, $4.2 million, and $3.9 million, of deferred lease costs related to lease incentives granted to tenants are included as an offset to rental and tenant reimbursement revenue for the years ended December 31, 2023, 2022, and 2021, respectively. Upon receipt of an early lease termination notice, Piedmont recognizes any unamortized deferred lease costs ratably over the revised remaining term of the lease after giving effect to the termination notice. If there is no remaining lease term and no other obligation to provide the tenant space in the property, then any unamortized tenant-specific costs are recognized immediately.
Debt	Debt
Deferred income and Revenue Recognition	Deferred income Deferred income is primarily comprised of the following items: • prepaid rent from tenants; • tenant reimbursements related to operating expense or property tax expenses which may be due to tenants as part of an annual operating expense reconciliation; and • tenant improvement allowance overages or improvements funded by the tenant where Piedmont owns the underlying improvements. Deferred income related to prepaid rents from tenants will be recognized as rental income in the period it is earned. Amounts related to operating expense reconciliations or property tax expense are relieved when the tenant's reconciliation is completed in accordance with the underlying lease, and payment is issued to the tenant. Tenant improvement allowance overages or improvements paid for by the tenant, where Piedmont owns all of the underlying improvements, are recorded as deferred income and amortized on a straight-line basis into rental and tenant reimbursement revenue over the term of the respective leases. Revenue Recognition Piedmont's revenues consist of the following: Rental and tenant reimbursement income - consists of revenue from leases with Piedmont's tenants, as well as reimbursements for services prescribed by such leases. Piedmont evaluates contracts at commencement to determine if the contract contains a lease. If a contract is determined to contain a lease, the lease is evaluated to determine whether it is an operating, sales-type, or a direct financing lease. All of Piedmont's leases where Piedmont is the lessor are for the lessee's use of space in Piedmont's commercial office properties and are classified as operating leases. In most lease arrangements, Piedmont finances improvements to leased space and is deemed the owner of the tenant improvements. The determination of who owns the improvements, whether payments to tenants constitute lease incentives or tenant improvements, and the timing of revenue recognition requires the exercise of significant judgment based on the facts and circumstances of the specific lease arrangement and is not based on any one factor. When evaluating whether Piedmont or its tenant owns the improvements, management considers a number of factors, including, among other things: • whether the tenant is obligated by the terms of the lease agreement to construct or install the leasehold improvements as a condition of the lease; • whether the landlord can require the lessee to make specified improvements or otherwise enforce its economic rights to those assets; • whether the tenant is required to provide the landlord with documentation supporting the cost of tenant improvements prior to reimbursement by the landlord; • whether the landlord is obligated to fund cost overruns for the construction of leasehold improvements; • whether the leasehold improvements are unique to the tenant or could reasonably be used by other parties; and • whether the estimated economic life of the leasehold improvements is long enough to allow for a significant residual value that could benefit the landlord at the end of the lease term. These tenant improvements are recorded as capital assets by Piedmont and depreciated, typically over the lease term. Payments made by tenants for tenant improvements owned by Piedmont are treated as deferred income and amortized into rental and tenant reimbursement revenue over the lease term. The timing of rental revenue recognition is largely dependent on our conclusion as to whether Piedmont, or its tenant, is the owner of tenant improvements at the leased property. When Piedmont owns the tenant improvements, rental revenue recognition begins when the tenant takes possession of or controls the finished space, which is typically when the improvements being recorded as Piedmont's asset are substantially complete. In some instances, Piedmont may cede control of the leased space to the tenant to be responsible for tenant-owned improvements for the space. In such arrangements, payments made by Piedmont to its tenant are treated as lease incentives and amortized as a reduction to rental and tenant reimbursement revenue over the lease term, which typically begins once the tenant takes possession of the unimproved space. Lease payments are typically comprised of both fixed base rental payments and separately billed variable lease payments for reimbursement of services performed by Piedmont for the tenant as prescribed by the lease. Fixed base rental payments, as well as any fixed portion of reimbursement income, are recognized on a straight-line basis over the lease term. Tenant reimbursements are recognized as revenue in the period that the related operating cost is incurred. Rents and tenant reimbursements collected in advance are recorded as deferred income in the accompanying consolidated balance sheets. Property management fee revenue - consists of revenue earned by Piedmont related to operating and managing office properties owned by other third-parties. Such income is within the scope of ASC 606, Revenue from Contracts with Customers ("ASC 606"). Because property management services represent a performance obligation that is satisfied over the length of the contract, not at any specific point in time, and has the same measure of transfer (time elapsed), property management fee revenue is recognized over time. Any variable consideration transferred as part of these management agreements is recognized in the quarter that the underlying cash receipts are collected, consistent with the allocation objective of allocating the transaction price in an amount that depicts the amount of consideration to which Piedmont expects to be entitled in exchange for transferring the promised service to the customer. Other property related income - consists of all other property related income from Piedmont's customers (tenants) that is not derived from a contract meeting the definition of a lease and is therefore also within the scope of ASC 606. Examples of such income include parking revenue and income from licenses with unrelated third-parties to place antennae and/or fiber optic cables in or on Piedmont's buildings. These services also represent a performance obligation that is satisfied over the length of the contract, not at any specific point in time, and has the same measure of transfer (time elapsed); therefore, revenue related to these licenses is also recognized over time. Gains on the sale of real estate assets, like all non-lease related revenue, are subject to a five-step model requiring that Piedmont identify the contract with the customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue upon satisfaction of the performance obligations. In circumstances where Piedmont contracts to sell a property with material post-sale involvement, such involvement must be accounted for as a separate performance obligation in the contract and a portion of the sales price allocated to each performance obligation. When the post-sale involvement performance obligation is satisfied, the portion of the sales price allocated to it will be recognized as gain on sale of real estate assets. Property dispositions with no continuing involvement will continue to be recognized upon closing of the sale. In circumstances where Piedmont extends seller financing as part of a sale of real estate assets, Piedmont assesses the collectibility of the notes receivable as of each reporting period end. Notes receivable that are deemed to be uncollectible or fully in default are reduced to their net realizable value, which approximates their fair value.
Shares-in-trust, Preferred Stock, Common Stock, Equity Securities Issued At-The-Market, Dividends	Shares-in-trust To date, Piedmont has not issued any shares-in-trust; however, under Piedmont’s charter, it has authority to issue a total of 150,000,000 shares-in-trust, which would be issued only in the event that there is a purported transfer of, or other change in or affecting the ownership of, Piedmont’s capital stock that would result in a violation of the ownership limits that are included in Piedmont’s charter to protect its REIT status. Preferred Stock To date, Piedmont has not issued any shares of preferred stock; however, Piedmont is authorized to issue up to 100,000,000 shares of one or more classes or series of preferred stock. Piedmont’s board of directors may determine the relative rights, preferences, and privileges of any class or series of preferred stock that may be issued, and can be more beneficial than the rights, preferences, and privileges attributable to Piedmont’s common stock. Common Stock Under Piedmont’s charter, it has authority to issue a total of 750,000,000 shares of common stock with a par value of $0.01 per share. Each share of common stock is entitled to one vote and participates in distributions equally. Piedmont previously had a board-authorized stock repurchase program, which expired in February 2024, under which it repurchased its own shares from time to time in the open market, in accordance with applicable securities laws. Equity Securities Issued At-The-Market Under Piedmont's at-the-market stock offering program ("ATM program"), Piedmont may offer and sell shares of its common stock from time to time in “at-the-market” offerings with an aggregate gross sales price of up to $250 million. In connection with the ATM Program, Piedmont may, at its discretion, enter into forward equity sale agreements. The use of a forward equity sale agreement would allow Piedmont to lock in a share price on the sale of shares of its common stock at the time the agreement is executed, but defer receiving the proceeds from the sale of shares until a later date, allowing Piedmont to better align such funding with its capital needs. Sales of shares of Piedmont’s common stock through its banking relationships, if any, will be made in amounts and at times to be determined by Piedmont from time to time, but Piedmont has no obligation to sell any of the shares in the offering and may suspend sales in connection with the offering at any time. Sales of Piedmont's common stock under forward equity sale agreements, if undertaken, meet the derivatives and hedging guidance scope exception to be accounted for as equity instruments based on the following assessments: (i) none of the agreements’ exercise contingencies were based on observable markets or indices besides those related to the market for Piedmont's own stock price and operations; and (ii) none of the settlement provisions precluded the agreements from being indexed to Piedmont's own stock. Underwriting commissions and offering costs incurred in connection with all common equity offerings, including any potential issuances under Piedmont's ATM Program, are reflected as a reduction of additional paid-in capital. Dividends
Noncontrolling Interest	Noncontrolling Interest Noncontrolling interest is the equity interest of consolidated entities that is not owned by Piedmont. Noncontrolling interest is adjusted for the noncontrolling partners' share of contributions, distributions, and earnings (losses) in accordance with the respective partnership agreement. Earnings allocated to such noncontrolling partners are recorded as income applicable to noncontrolling interest in the accompanying consolidated statements of operations.
Stock-based Compensation	Stock-based Compensation Piedmont has issued stock-based compensation in the form of deferred stock units to its employees and board of directors. For employees, Piedmont's Long-term Incentive Compensation ("LTIC") program is comprised of an annual deferred stock unit component (the "Annual Deferred Stock Unit" program) and a multi-year performance share component (the "Performance Share" program). All awards granted during the three years ended December 31, 2023 pursuant to both the Annual Deferred Stock Unit and Performance Share programs, as well as director's awards, were classified as equity awards and expensed on a straight-line basis over the vesting period, with issuances recorded as a reduction to additional paid in capital. Forfeitures are recorded when they occur. Awards granted prior to the three-year service period (2020-2022) pursuant to the Performance Share component of the LTIC program were classified as liability awards and remeasured at fair value as of the end of each reporting period during the service period, with issuances recorded as a reduction to accrued expense. Compensation expense recognized related to both of these award types is recorded as property operating costs for those employees whose job is related to property operations and as general and administrative expense for all other employees and board of directors in the accompanying consolidated statements of operations.
Net Income/(Loss) Available to Common Stockholders Per Share	Net Income/(Loss) Available to Common Stockholders Per Share Net income/(loss) per share-basic is calculated as net income/(loss) available to common stockholders divided by the weighted average number of common shares outstanding during the period. Net income/(loss) per share-diluted is calculated as net income/(loss) available to common stockholders divided by the diluted weighted average number of common shares outstanding during the period, including the dilutive effect of nonvested restricted stock. The dilutive effect of nonvested restricted stock is calculated using the treasury stock method to determine the number of additional common shares that would become outstanding if the remaining unvested restricted stock awards vested. Further, Piedmont has elected to use the "end of the reporting period" convention when using the treasury stock method to calculate the dilutive effect of any shares issued pursuant to forward equity sale agreements in connection with Piedmont's ATM Program described above. Under this methodology, the assumed sale proceeds are calculated using the closing price of Piedmont's stock as of the end of the respective reporting period.
Income Taxes	Income Taxes Piedmont has elected to be taxed as a REIT under the Code, 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, its taxable income distribution requirement. However, Piedmont is subject to federal income taxes related to the operations conducted by its taxable REIT subsidiary which have been provided for in the financial statements. These operations resulted in approximately $39,000, $10,000, and $379,000 in income tax recoveries for the years ended December 31, 2023, 2022, and 2021, respectively, as a component of other income/(expense) in the accompanying consolidated statements of operations. Further, Piedmont is subject to certain state and local taxes related to the operations of properties in certain locations, which have been provided for in property operating costs in the accompanying consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Segment Expense Disclosure The Financial Accounting Standards Board (the "FASB") has issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures ("ASU 2023-07). ASU 2023-07 requires expanded disclosure of significant segment expenses which are regularly provided to the chief operating decision maker ("CODM"); all entities that have a single reportable segment must provide existing segment disclosures; disclosure of the title and position of the CODM; and entities must disclose the amounts and a qualitative description of "other segment items", representing the difference between segment revenue less segment expenses reported in segment profit or loss. ASU 2023-07 is effective for Piedmont beginning with the Form 10-K for the year ended December 31, 2024, and subsequent interim periods thereafter. Piedmont is currently evaluating the potential impact of adoption; however, Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption of ASU 2023-07. Income Tax Disclosure The FASB has issued ASU No. 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures ("ASU 2023-09). ASU 2023-09 requires expanded disclosure of tax information, including a rate reconciliation and the amounts of annual income taxes paid (net of refunds received), segregated by federal, state, and local jurisdictions. The amendments of ASU 2023-09 also require disclosure of income from continuing operations before income tax separated by domestic and foreign income, and eliminate the requirement to disclose the nature and estimates of the range of reasonable possible changes to unrecognized tax benefits within the following twelve months of the reporting period end. ASU 2023-09 is effective for Piedmont beginning with the filing of the Form 10-K for the year ended December 31, 2025. Piedmont is currently evaluating the potential impact of adoption; however, Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption of ASU 2023-09.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Real Estate Assets Useful Lives	Piedmont’s real estate assets are depreciated or amortized using the straight-line method over the following useful lives: Buildings 40 years Building improvements 5-25 years Land improvements 20-25 years Tenant allowances Lease term Furniture, fixtures, and equipment 3-10 years Intangible lease assets Lease term
Schedule of Gross Intangible Assets and Liabilities	Gross intangible assets and liabilities, inclusive of amounts classified as real estate assets held for sale, recorded as of December 31, 2023 and 2022, respectively, are as follows (in thousands): December 31, 2023 December 31, 2022 Intangible Lease Assets: Above-Market In-Place Lease Assets $ 868 $ 1,147 In-Place Lease Valuation $ 169,786 $ 203,927 Intangible Lease Origination Costs (included as component of Deferred Lease Costs) $ 235,820 $ 285,777 Intangible Lease Liabilities (Below-Market In-Place Leases) $ 78,736 $ 93,372
Schedule of Amortization of Intangible Lease Costs	For the years ended December 31, 2023, 2022, and 2021, respectively, Piedmont recognized amortization of intangible lease costs in the accompanying consolidated statements of operations, as follows (in thousands): 2023 2022 2021 Amortization of Intangible Lease Origination Costs and In-Place Lease Valuation included in Amortization $ 68,642 $ 74,167 $ 69,388 Amortization of Above-Market and Below-Market In-Place Lease Intangibles as a net increase to Rental and Tenant Reimbursement Revenue $ 13,830 $ 13,426 $ 11,180
Schedule of Net Intangible Assets and Liabilities	Net intangible assets and liabilities as of December 31, 2023 will be amortized as follows (in thousands): Intangible Lease Assets Above-Market In-Place Lease Valuation Intangible Lease Origination Costs (1) Below-Market For the year ending December 31: 2024 $ 109 $ 21,570 $ 26,305 $ 9,756 2025 31 16,194 20,999 8,152 2026 14 12,739 17,740 6,623 2027 13 10,061 14,552 5,535 2028 13 7,934 11,748 4,724 Thereafter 17 13,893 21,015 8,135 $ 197 $ 82,391 $ 112,359 $ 42,925 Weighted-Average Amortization Period (in years) 3 5 6 6 (1) Included as a component of Deferred Lease Costs in the accompanying consolidated balance sheets.
Schedule of Allowance for Doubtful Accounts	A roll forward of the allowance for doubtful accounts for the years ended December 31, 2023, 2022, and 2021 is as follows: Balance at Beginning of Period Additions/Reversals as Decrease/(Increase) to Revenue Write-offs Balance at End of Period Year Ended December 31, 2023 $ 1,000 $ (1,000) $ — $ — 2022 $ 4,000 $ (3,000) $ — $ 1,000 2021 $ 4,553 $ 35 $ (588) $ 4,000

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the terms of Piedmont’s indebtedness outstanding as of December 31, 2023 and 2022, including net discounts/premiums and unamortized debt issuance costs (in thousands): Facility (1) Stated Rate Effective Rate (2) Maturity Amount Outstanding as of 2023 2022 Secured (Fixed) $197 Million Fixed-Rate Mortgage 4.10 % 4.10 % 10/1/2028 $ 195,879 $ 197,000 195,879 197,000 Unsecured (Variable and Fixed) $350 Million Unsecured Senior Notes due 2023 3.40 % 3.43 % 6/01/2023 — 350,000 $215 Million Unsecured 2023 Term Loan SOFR + 1.30% 6.71 % (3) 1/31/2024 (4) 215,000 — $400 Million Unsecured Senior Notes due 2024 4.45 % 4.10 % 3/15/2024 (5) 50,154 400,000 $200 Million Unsecured 2022 Term Loan Facility SOFR + 1.25% 6.70 % (3) 12/16/2024 (6) 100,000 200,000 $250 Million Unsecured 2018 Term Loan SOFR + 1.20% 4.79 % 3/31/2025 250,000 250,000 $600 Million Unsecured 2022 Line of Credit (6) SOFR + 1.04% 6.45 % (3) 6/30/2026 (7) 59,000 — $600 Million Unsecured Senior Notes due 2028 9.25 % 9.25 % 7/20/2028 600,000 — $300 Million Unsecured Senior Notes due 2030 3.15 % 3.90 % 8/15/2030 300,000 300,000 $300 Million Unsecured Senior Notes due 2032 2.75 % 2.78 % 4/1/2032 300,000 300,000 Discounts and unamortized debt issuance costs (15,437) (13,319) Subtotal/Weighted Average (8) 5.99 % 1,858,717 1,786,681 Total/Weighted Average (8) 5.82 % $ 2,054,596 $ 1,983,681 (1) All of Piedmont’s outstanding debt as of December 31, 2023 is unsecured and interest-only until maturity, except for the $197 Million Fixed Rate Mortgage secured by 1180 Peachtree Street. (2) Effective rate after consideration of settled or in-place interest rate swap agreements and issuance discounts. (3) On a periodic basis, Piedmont may select from multiple interest rate options, including the prime rate and various-length SOFR locks on all or a portion of the principal. The all-in interest rate associated with each SOFR interest period selection is comprised of the relevant adjusted SOFR rate (comprised of the relevant base SOFR interest rate plus a fixed adjustment of 0.10%) and is subject to an additional spread over the selected rate based on Piedmont’s current credit rating. (4) On January 30, 2024, Piedmont repaid $190 million of the $215 Million Unsecured 2023 Term Loan and extended the remaining balance to January 31, 2025. (5) Piedmont currently intends to repay the outstanding $50.2 million balance on the $400 Million Unsecured Senior Notes due 2024 through selective property dispositions, cash on hand from operations, and/or borrowings under its existing $600 Million Unsecured 2022 Line of Credit. (6) On January 30, 2024, Piedmont repaid the $100 million balance. (7) Piedmont may extend the term for up to one (8) Weighted average is based on contractual balance of outstanding debt and the stated or effectively fixed interest rates as of December 31, 2023.
Schedule of Maturities of Long-term Debt	A summary of Piedmont's consolidated principal outstanding for aggregate debt maturities of its indebtedness as of December 31, 2023, is provided below (in thousands): 2024 $ 368,317 2025 253,588 2026 62,738 2027 3,895 2028 781,495 Thereafter 600,000 Total $ 2,070,033

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023 is as follows: Interest Rate Derivatives: Number of Swap Agreements Associated Debt Instrument Notional Amount Effective Date Maturity Date Interest rate swaps 2 $250 Million Unsecured 2018 Term Loan $ 100 3/29/2018 3/31/2025 Interest rate swaps 3 $250 Million Unsecured 2018 Term Loan 75 12/2/2022 3/31/2025 Interest rate swaps 3 $250 Million Unsecured 2018 Term Loan $ 75 12/12/2022 3/31/2025 Total $ 250
Schedule of Interest Rate Derivatives	A detail of Piedmont’s interest rate derivatives on a gross and net basis as of December 31, 2023 and 2022, respectively, is as follows (in thousands): Interest rate swaps classified as: December 31, 2023 December 31, 2022 Gross derivative assets $ 3,032 $ 4,183 Gross derivative liabilities — — Net derivative assets $ 3,032 $ 4,183
Schedule of Effect on Other Comprehensive Income (Loss)	The gain/(loss) on Piedmont's interest rate derivatives, including previously settled forward starting interest rate swaps, that was recorded in OCI and the accompanying consolidated statements of operations as a component of interest expense for the years ended December 31, 2023, 2022, and 2021, respectively, was as follows (in thousands): Interest Rate Swaps in Cash Flow Hedging Relationships: 2023 2022 2021 Amount of gain recognized in OCI $ 2,626 $ 8,202 $ 2,994 Amount of previously recorded gain/(loss) reclassified from OCI into Interest Expense $ 3,365 $ (1,273) $ (2,952) Total amount of Interest Expense presented in the consolidated statements of operations $ (101,258) $ (65,656) $ (51,292) Total amount of Loss on Early Extinguishment of Debt presented in the consolidated statements of operations $ (820) $ — $ —

Fair Value Measurements of Fi_2

Fair Value Measurements of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, by Balance Sheet Grouping	The following table sets forth the carrying and estimated fair value for each of Piedmont’s financial instruments, as well as its level within the GAAP fair value hierarchy, as of December 31, 2023 and 2022, respectively (in thousands): December 31, 2023 December 31, 2022 Financial Instrument Carrying Value Estimated Level Within Fair Value Hierarchy Carrying Value Estimated Level Within Fair Value Hierarchy Assets: Cash and cash equivalents (1) $ 825 $ 825 Level 1 $ 16,536 $ 16,536 Level 1 Tenant receivables, net (1) $ 7,915 $ 7,915 Level 1 $ 4,762 $ 4,762 Level 1 Restricted cash and escrows (1) $ 3,381 $ 3,381 Level 1 $ 3,064 $ 3,064 Level 1 Interest rate swaps $ 3,032 $ 3,032 Level 2 $ 4,183 $ 4,183 Level 2 Liabilities: Accounts payable and accrued expenses (1) $ 49,706 $ 49,706 Level 1 $ 63,225 $ 63,225 Level 1 Debt, net $ 2,054,596 $ 1,953,447 Level 2 $ 1,983,681 $ 1,825,723 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 Charges (Tables)

Impairment Charges (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Schedule of Discount Rates and the Capitalization Rate by Segment	The ranges of discount rates and the capitalization rate used for each segment in the above analyses, at the respective time the analyses were performed, were as follows: Range of Discount Rates Range of Capitalization Rates Reporting Unit Valuation Date Low High Low High Boston December 31, 2023 8.25% 9.75% 8.25% 9.00% Minneapolis September 30, 2023 8.50% 9.25% 8.50% 9.00% New York December 31, 2023 9.50% 9.50% 9.00% 9.00% Northern Virginia/Washington D.C. December 31, 2022 8.50% 9.50% 8.25% 9.25%
Schedule of Impairment Losses on Real Estate Assets	Piedmont recorded the following impairment losses on real estate assets for the years ended December 31, 2023, 2022, and 2021 (in thousands): 2023 2022 2021 9320 Excelsior Boulevard $ — $ 10,000 $ — Two Pierce Place — — 41,000 Total impairment loss on real estate assets $ — $ 10,000 $ 41,000

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Equity Based Award Activity	A rollforward of Piedmont's equity based award activity for the year ended December 31, 2023 is as follows: Shares Weighted-Average Grant Date Fair Value Unvested and Potential Stock Awards as of December 31, 2022 729,424 $ 19.21 Deferred Stock Awards Granted 987,094 $ 9.60 Performance Stock Awards Granted 424,922 $ 12.37 Change in Estimated Potential Share Awards based on TSR Performance (573,729) $ 14.48 Performance Stock Awards Vested (90,064) $ 25.83 Deferred Stock Awards Vested (366,466) $ 14.87 Deferred Stock Awards Forfeited (16,884) $ 11.26 Unvested and Potential Stock Awards as of December 31, 2023 1,094,297 $ 11.35 The following table provides additional information regarding stock award activity during the years ended 2023, 2022, and 2021 (in thousands except for per share amounts): 2023 2022 2021 Weighted-Average Grant Date Fair Value per share of Deferred Stock Granted During the Period $ 9.60 $ 16.30 $ 17.24 Total Grant Date Fair Value of Deferred Stock Vested During the Period $ 5,448 $ 6,414 $ 5,242 Share-based Liability Awards Paid During the Period (1) $ — $ 5,481 $ 3,610 (1) Amounts reflect the issuance of performance share awards related to the 2019-21 and 2018-20 Performance Share Plans during the years ended December 31, 2022, and 2021, respectively.
Schedule of Outstanding Employee Deferred Stock Awards	A detail of Piedmont’s outstanding stock awards and programs as of December 31, 2023 is as follows: Date of grant Type of Award Net Shares Granted (1) Grant Vesting Schedule Unvested and Potential Shares as of December 31, 2023 May 3, 2019 Deferred Stock Award 26,385 (2) $ 21.04 Of the shares granted, 20% vested or will vest on July 1, 2020, 2021, 2022, 2023 and 2024, respectively. 9,505 February 17, 2021 Deferred Stock Award 211,595 $ 17.15 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on February 17, 2022, 2023, and 2024, respectively. 54,088 February 18, 2021 Fiscal Year 2021-2023 Performance Share Program — $ 23.04 Shares awarded, if any, will vest immediately upon determination of award in 2024. — (3) February 10, 2022 Deferred Stock Award 170,369 $ 16.85 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on February 10, 2023, 2023, and 2025, respectively. 106,472 February 17, 2022 Fiscal Year 2022-2024 Performance Share Program — $ 17.77 Shares awarded, if any, will vest immediately upon determination of award in 2025. 91,136 (3) February 13, 2023 Deferred Stock Award 392,991 $ 10.55 Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on February 13, 2024, 2025, 2026, respectively. 314,629 February 23, 2023 Fiscal Year 2023-2025 Performance Share Program — $ 12.37 Shares awarded, if any, will vest immediately upon determination of award in 2026. — (3) February 23, 2023 Deferred Stock Award 413,433 $ 9.47 Of the shares granted, 25% vested or will vest on February 23, 2024, 2025, 2026, and 2027 respectively. 396,707 May 10, 2023 Deferred Stock Award-Board of Directors 121,760 $ 6.57 Of the shares granted, 100% will vest on the earlier of the 2024 Annual Meeting or May 10, 2024. 121,760 Total 1,094,297 (1) Amounts reflect the total original grant to employees and independent directors, net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations through December 31, 2023. (2) Includes a special, one-time deferred stock award to Piedmont's Chief Executive Officer effective July 1, 2019, the date of his promotion to the position, which vests in ratable installments over a five year period beginning July 1, 2020. (3)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Denominator for the Basic and Diluted Earnings Per Share Computations	The following table reconciles the denominator for the basic and diluted earnings per share computations shown on the consolidated statements of income for the years ended December 31, 2023, 2022, and 2021, respectively (in thousands): 2023 2022 2021 Weighted-average common shares—basic 123,659 123,351 123,978 Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards — 173 — Weighted-average common shares—diluted 123,659 123,524 123,978

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Lessor, Operating Lease, Payments to be Received	The future minimum rental income from Piedmont’s investment in real estate assets under non-cancelable operating leases as of December 31, 2023 is presented below (in thousands): Years ending December 31: 2024 $ 424,131 2025 401,657 2026 362,576 2027 322,114 2028 275,559 Thereafter 1,079,279 Total $ 2,865,316
Schedule of Operating Lease, Lease Income	Piedmont recognized the following fixed and variable lease payments, which together comprised rental and tenant reimbursement revenue in the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022, and 2021, respectively, as follows (in thousands): 2023 2022 2021 Fixed payments $ 454,405 $ 451,403 $ 427,174 Variable payments 100,908 94,338 87,445 Total Rental and Tenant Reimbursement Revenue $ 555,313 $ 545,741 $ 514,619

Property Dispositions and Ass_2

Property Dispositions and Assets Held for Sale (Tables)	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Property Dispositions	Details of such properties sold are presented below (in thousands): Buildings Sold Location Reportable Segment Date of Sale Gain on Sale of Real Estate Assets Net Sales Proceeds Two Pierce Place Itasca, Illinois Other January 25, 2022 $ 1,741 $ 24,272 225 and 235 Presidential Way Boston, Massachusetts Boston January 28, 2022 $ 49,218 $ 119,609 Cambridge Portfolio (1) Cambridge, Massachusetts Boston December 2022 $ 102,570 $ 155,307 (2) (1) The Cambridge Portfolio is comprised of the One Brattle Square building and the 1414 Massachusetts Avenue building in Cambridge, Massachusetts. The closing date for One Brattle Square was December 13, 2022, and the sale of 1414 Massachusetts Avenue closed on December 20, 2022. (2)

Supplemental Disclosures for _2

Supplemental Disclosures for the Statement of Consolidated Cash Flows (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Certain noncash investing and financing activities for the years ended December 31, 2023, 2022, and 2021 (in thousands) are outlined below: 2023 2022 2021 Tenant improvements funded by tenants $ 33,472 $ 2,961 $ 48,842 Accrued capital expenditures and deferred lease costs $ 28,173 $ 24,379 $ 24,817 Change in accrued dividends $ (10,215) $ (691) $ (365) Change in accrued share repurchases as part of an announced plan $ — $ — $ (685) Change in accrued deferred financing costs $ (189) $ 44 $ — The following table provides a reconciliation of cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statements of cash flows for the years ended December 31, 2023, 2022, and 2021 to the consolidated balance sheets for the respective period (in thousands): 2023 2022 2021 Cash and cash equivalents, beginning of period $ 16,536 $ 7,419 $ 7,331 Restricted cash and escrows, beginning of period 3,064 1,441 1,883 Total cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statement of cash flows, beginning of period $ 19,600 $ 8,860 $ 9,214 Cash and cash equivalents, end of period $ 825 $ 16,536 $ 7,419 Restricted cash and escrows, end of period 3,381 3,064 1,441 Total cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statement of cash flows, end of period $ 4,206 $ 19,600 $ 8,860

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax Basis Net Income/(Loss)	Piedmont’s income tax basis net income/(loss) for the years ended December 31, 2023, 2022, and 2021, is calculated as follows (in thousands): 2023 2022 2021 GAAP basis financial statement net income/(loss) $ (48,387) $ 146,830 $ (1,153) Increase/(decrease) in net income/(loss) resulting from: Depreciation and amortization expense recognized for financial reporting purposes in excess of amounts recognized for income tax purposes 93,791 96,694 75,969 Rental income accrued for income tax purposes less than amounts for financial reporting purposes (18,817) (26,211) (18,798) Net amortization of above/below-market lease intangibles for income tax purposes in excess of amounts for financial reporting purposes (12,049) (13,022) (9,465) Gain on disposal of property for financial reporting purposes in excess of amounts for income tax purposes — (137,871) — Taxable income or loss of Piedmont Washington Properties, Inc., in excess of amount for financial reporting purposes 6,212 3,111 3,518 Other expenses, including impairment charges, for financial reporting purposes in excess of amounts for income tax purposes 40,173 30,310 51,095 Taxable income for POH in excess of/(less than) amount for financial reporting purposes 61 — (654) Income tax basis net income, prior to dividends paid deduction $ 60,984 $ 99,841 $ 100,512
Schedule of Dividends Distributions Per Common Share	The composition of Piedmont’s distributions per common share is presented below: 2023 2022 2021 Ordinary income 63.22 % 82.85 % 96.34 % Return of capital 34.69 % 3.79 % 3.66 % Capital gains 2.08 % 13.36 % — % 100 % 100 % 100 %

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Revenue and Net Operating Income, by Segment	The following table presents accrual-based lease revenue and other property related income included in NOI by geographic reportable segment (in thousands): Years Ended December 31, 2023 2022 2021 Atlanta $ 161,310 $ 131,230 $ 98,330 Dallas 111,592 109,298 110,729 Orlando 61,688 58,203 54,603 Northern Virginia/Washington, D.C. 60,324 63,534 60,329 Minneapolis 63,713 61,530 61,563 New York 54,040 56,189 52,454 Boston 42,847 59,212 65,445 Total reportable segments 555,514 539,196 503,453 Other 22,242 24,570 25,257 Total Revenues $ 577,756 $ 563,766 $ 528,710 The following table presents NOI by geographic reportable segments (in thousands): Years Ended December 31, 2023 2022 2021 Atlanta $ 103,475 $ 82,878 $ 62,772 Dallas 64,566 62,444 66,155 Orlando 36,639 35,327 33,449 Northern Virginia/Washington, D.C. 36,334 39,994 36,914 Minneapolis 33,302 31,886 32,538 New York 29,357 31,252 30,049 Boston 25,703 39,101 45,587 Total reportable segments 329,376 322,882 307,464 Other 12,969 14,685 10,163 Total NOI $ 342,345 $ 337,567 $ 317,627 A reconciliation of Net income/(loss) applicable to Piedmont to NOI is presented below (in thousands): Years Ended December 31, 2023 2022 2021 Net income/(loss) applicable to Piedmont $ (48,387) $ 146,830 $ (1,153) Management fee revenue (1) (1,004) (1,004) (1,269) Depreciation and amortization 236,214 224,553 206,608 Impairment charges 29,446 25,981 41,000 General and administrative expenses 29,190 29,127 30,252 Interest expense 101,258 65,656 51,292 Other income (3,256) (1,847) (9,089) Loss on early extinguishment of debt 820 — — Gain on sale of real estate assets (1,946) (151,729) — Net loss applicable to noncontrolling interests 10 — (14) NOI $ 342,345 $ 337,567 $ 317,627 (1) Presented net of related operating expenses incurred to earn such management fee revenue. Such operating expenses are a component of property operating costs in the accompanying consolidated statements of operations.

Organization (Details)

Organization (Details) ft² in Millions	Dec. 31, 2023 ft² property
Segment Reporting, Other Significant Reconciling Item [Line Items]
Number of real estate properties	51
Area of real estate property (in sq ft) | ft²	16.6
Percentage leased	87.10%
Redevelopment Asset
Segment Reporting, Other Significant Reconciling Item [Line Items]
Number of real estate properties	1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) vote joint_venture property $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)
Significant Accounting Policies [Line Items]
Number of real estate properties | property	51
Number of properties owned with majority interest | property	4
Number of joint ventures | joint_venture	3
Amortization of deferred lease costs	$ 56,100,000	$ 57,900,000	$ 56,400,000
Amortization of lease incentive	4,400,000	4,200,000	3,900,000
Amortization of fair value adjustments	0	0	300,000
Amortization of debt discount	700,000	600,000	500,000
Amortization of deferred financing costs and fair market value adjustments on notes payable	$ 4,700,000	$ 2,800,000	2,700,000
Shares-in-trust, shares authorized (in shares) | shares	150,000,000	150,000,000
Preferred stock, shares authorized (in shares) | shares	100,000,000	100,000,000
Common stock, shares authorized (in shares) | shares	750,000,000	750,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Number of votes for each share of common stock | vote	1
At-the-market offerings, maximum amount	$ 250,000,000
Income tax expense (benefit)	$ (39,000)	$ (10,000)	$ (379,000)
1201 Eye Street NW Associates LLC and 1225 Eye Street, NW Associates LLC
Significant Accounting Policies [Line Items]
Number of joint ventures | joint_venture	2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Real Estate Assets Useful Lives (Details)	Dec. 31, 2023
Buildings
Property, Plant and Equipment [Line Items]
Useful life	40 years
Building improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Building improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	25 years
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	20 years
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	25 years
Furniture, fixtures, and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Furniture, fixtures, and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	10 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Gross Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible Lease Liabilities (Below-Market In-Place Leases)	$ 78,736	$ 93,372
Above-Market In-Place Lease Assets
Finite-Lived Intangible Assets [Line Items]
Intangible lease assets	868	1,147
In-Place Lease Valuation
Finite-Lived Intangible Assets [Line Items]
Intangible lease assets	169,786	203,927
Intangible Lease Origination Costs (included as component of Deferred Lease Costs)
Finite-Lived Intangible Assets [Line Items]
Intangible lease assets	$ 235,820	$ 285,777

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Amortization of Intangible Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Amortization of Intangible Lease Origination Costs and In-Place Lease Valuation included in Amortization	$ 68,642	$ 74,167	$ 69,388
Amortization of Above-Market and Below-Market In-Place Lease Intangibles as a net increase to Rental and Tenant Reimbursement Revenue	$ 13,830	$ 13,426	$ 11,180

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Net Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Intangible Lease Assets
Total	$ 82,588	$ 114,380
Intangible Lease Origination Costs
2024	26,305
2025	20,999
2026	17,740
2027	14,552
2028	11,748
Thereafter	21,015
Total	$ 112,359
Weighted-Average Amortization Period (in years)	6 years
Below-Market In-place Lease Liabilities
2024	$ 9,756
2025	8,152
2026	6,623
2027	5,535
2028	4,724
Thereafter	8,135
Total	$ 42,925
Weighted-Average Amortization Period (in years)	6 years
Above-Market In-Place Lease Assets
Intangible Lease Assets
2024	$ 109
2025	31
2026	14
2027	13
2028	13
Thereafter	17
Total	$ 197
Weighted-Average Amortization Period (in years)	3 years
In-Place Lease Valuation
Intangible Lease Assets
2024	$ 21,570
2025	16,194
2026	12,739
2027	10,061
2028	7,934
Thereafter	13,893
Total	$ 82,391
Weighted-Average Amortization Period (in years)	5 years

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 1,000	$ 4,000	$ 4,553
Additions/Reversals as Decrease/(Increase) to Revenue	(1,000)	(3,000)	35
Write-offs	0	0	(588)
Balance at End of Period	$ 0	$ 1,000	$ 4,000

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)		12 Months Ended
	Jan. 30, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 20, 2024
Debt Instrument [Line Items]
Loss on early extinguishment of debt		$ (820,000)	$ 0	$ 0
Amount outstanding, gross		$ 2,070,033,000
Weighted average interest rate (percent)		5.82%	3.89%
Interest paid		$ 81,000,000	$ 66,100,000	49,400,000
Interest capitalized		$ 7,000,000	4,200,000	$ 3,700,000
Unsecured Debt
Debt Instrument [Line Items]
Weighted average interest rate (percent)		5.99%
Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Amount outstanding, gross					$ 325,000,000
Long-term debt, term					3 years
$215 Million Unsecured 2023 Term Loan | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument term		1 year
Debt instrument, face amount		$ 215,000,000
Amount outstanding, gross		$ 215,000,000	0
$215 Million Unsecured 2023 Term Loan | Unsecured Debt | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate		1.30%
$215 Million Unsecured 2023 Term Loan | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Repayments of unsecured debt	$ 190,000,000
Amount outstanding, gross	25,000,000
$600 Million Unsecured Senior Notes due 2028 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 600,000,000
Stated Rate		9.25%
Amount outstanding, gross		$ 600,000,000	0
$350 Million Unsecured Senior Notes due 2023 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 350,000,000
Stated Rate		3.40%
Amount outstanding, gross		$ 0	350,000,000
$400 Million Unsecured Senior Notes due 2024 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 400,000,000
Stated Rate		4.45%
Repayments of unsecured debt		$ 350,000,000
Loss on early extinguishment of debt		(800,000)
Amount outstanding, gross		50,154,000	400,000,000
$200 Million Unsecured 2022 Term Loan Facility | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		200,000,000
Repayments of unsecured debt		100,000,000
Amount outstanding, gross		$ 100,000,000	200,000,000
$200 Million Unsecured 2022 Term Loan Facility | Unsecured Debt | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate		1.25%
$200 Million Unsecured 2022 Term Loan Facility | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Repayments of unsecured debt	$ 100,000,000
$200 Million Syndicated Bank Term Loan | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Debt instrument term	3 years
Debt instrument, face amount	$ 200,000,000
$200 Million Syndicated Bank Term Loan | Unsecured Debt | Subsequent Event | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate	1.30%
$250 Million Unsecured 2018 Term Loan | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 250,000,000
Amount outstanding, gross		$ 250,000,000	$ 250,000,000
$250 Million Unsecured 2018 Term Loan | Unsecured Debt | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate		1.20%

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details)		12 Months Ended
	Jan. 30, 2024 USD ($)	Dec. 31, 2023 USD ($) extension	Feb. 20, 2024 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Subtotal/weighted average (percent)		5.82%		3.89%
Amount outstanding, gross		$ 2,070,033,000
Discounts and unamortized debt issuance costs		(15,437,000)		$ (13,319,000)
Total/Weighted Average		2,054,596,000		1,983,681,000
Secured Debt
Debt Instrument [Line Items]
Total/Weighted Average		$ 195,879,000		197,000,000
Unsecured Debt
Debt Instrument [Line Items]
Subtotal/weighted average (percent)		5.99%
Discounts and unamortized debt issuance costs		$ (15,437,000)		(13,319,000)
Total/Weighted Average		$ 1,858,717,000		1,786,681,000
Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Amount outstanding, gross			$ 325,000,000
Unsecured Debt | Adjusted Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate		0.10%
$197 Million Fixed-Rate Mortgage | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 197,000,000
Stated Rate		4.10%
Effective rate (percent)		4.10%
Amount outstanding, gross		$ 195,879,000		197,000,000
$350 Million Unsecured Senior Notes due 2023 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 350,000,000
Stated Rate		3.40%
Effective rate (percent)		3.43%
Amount outstanding, gross		$ 0		350,000,000
$215 Million Unsecured 2023 Term Loan | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 215,000,000
Effective rate (percent)		6.71%
Amount outstanding, gross		$ 215,000,000		0
$215 Million Unsecured 2023 Term Loan | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Amount outstanding, gross	$ 25,000,000
Repayments of unsecured debt	190,000,000
$215 Million Unsecured 2023 Term Loan | Unsecured Debt | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate		1.30%
$400 Million Unsecured Senior Notes due 2024 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 400,000,000
Stated Rate		4.45%
Effective rate (percent)		4.10%
Amount outstanding, gross		$ 50,154,000		400,000,000
Repayments of unsecured debt		350,000,000
$200 Million Unsecured 2022 Term Loan Facility | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 200,000,000
Effective rate (percent)		6.70%
Amount outstanding, gross		$ 100,000,000		200,000,000
Repayments of unsecured debt		$ 100,000,000
$200 Million Unsecured 2022 Term Loan Facility | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Repayments of unsecured debt	$ 100,000,000
$200 Million Unsecured 2022 Term Loan Facility | Unsecured Debt | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate		1.25%
$250 Million Unsecured 2018 Term Loan | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 250,000,000
Effective rate (percent)		4.79%
Amount outstanding, gross		$ 250,000,000		250,000,000
$250 Million Unsecured 2018 Term Loan | Unsecured Debt | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Spread on variable rate		1.20%
$600 Million Unsecured 2022 Line of Credit | Unsecured Debt | Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount		$ 600,000,000
Effective rate (percent)		6.45%
Amount outstanding, gross		$ 59,000,000		0
Additional extension period		1 year
Number of extension periods | extension		2
Maturity extension period		6 months
$600 Million Unsecured 2022 Line of Credit | Unsecured Debt | Secured Overnight Financing Rate (SOFR) | Line of Credit
Debt Instrument [Line Items]
Spread on variable rate		1.04%
$600 Million Unsecured Senior Notes due 2028 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 600,000,000
Stated Rate		9.25%
Effective rate (percent)		9.25%
Amount outstanding, gross		$ 600,000,000		0
$300 Million Unsecured Senior Notes due 2030 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 300,000,000
Stated Rate		3.15%
Effective rate (percent)		3.90%
Amount outstanding, gross		$ 300,000,000		300,000,000
$300 Million Unsecured Senior Notes due 2032 | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 300,000,000			$ 300,000,000
Stated Rate		2.75%
Effective rate (percent)		2.78%
Amount outstanding, gross		$ 300,000,000		$ 300,000,000

Debt - Maturities of Long-term

Debt - Maturities of Long-term Debt (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 368,317
2025	253,588
2026	62,738
2027	3,895
2028	781,495
Thereafter	600,000
Total	$ 2,070,033

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) derivative_contract	Dec. 31, 2021 USD ($) derivative_contract
Derivative [Line Items]
Maximum length of time of cash flow hedge	15 months
Decrease in interest expense over the next twelve months	$ 1,300,000
Unsecured Debt
Derivative [Line Items]
Derivative, notional amount	250,000,000
$250 Million Unsecured 2018 Term Loan | Unsecured Debt
Derivative [Line Items]
Debt instrument, face amount	250,000,000
$300 Million Unsecured Senior Notes due 2032 | Unsecured Debt
Derivative [Line Items]
Debt instrument, face amount	$ 300,000,000	$ 300,000,000
Interest Rate Swaps
Derivative [Line Items]
Number of swap agreements | derivative_contract	8
Forward Starting Interest Rate Swaps
Derivative [Line Items]
Number of swap agreements | derivative_contract		1
Derivative, notional amount		$ 50,000,000
Settlement resulted in a gain		$ 600,000
Gain and loss on settlement of interest rate swap agreement, amortization period		10 years

Derivative Instruments - Notion

Derivative Instruments - Notional Amounts of Outstanding Derivative Positions (Details) - Unsecured Debt	Dec. 31, 2023 USD ($) derivative_contract
Derivative [Line Items]
Interest rate swaps, notional amount	$ 250,000,000
$250 Million Unsecured 2018 Term Loan
Derivative [Line Items]
Debt instrument, face amount	$ 250,000,000
$250 Million Unsecured 2018 Term Loan | Interest Rate Swap, Tranche 1
Derivative [Line Items]
Number of Swap Agreements | derivative_contract	2
Interest rate swaps, notional amount	$ 100,000,000
$250 Million Unsecured 2018 Term Loan | Interest Rate Swap, Tranche 2
Derivative [Line Items]
Number of Swap Agreements | derivative_contract	3
Interest rate swaps, notional amount	$ 75,000,000
$250 Million Unsecured 2018 Term Loan | Interest Rate Swap, Tranche 3
Derivative [Line Items]
Number of Swap Agreements | derivative_contract	3
Interest rate swaps, notional amount	$ 75,000,000

Derivative Instruments - Intere

Derivative Instruments - Interest Rate Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross derivative assets	$ 3,032	$ 4,183
Gross derivative liabilities	0	0
Net derivative assets	$ 3,032	$ 4,183

Derivative Instruments - Effect

Derivative Instruments - Effect on Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Amount of gain recognized in OCI	$ 2,626	$ 8,202	$ 2,994
Total amount of Interest Expense presented in the consolidated statements of operations	(101,258)	(65,656)	(51,292)
Total amount of Loss on Early Extinguishment of Debt presented in the consolidated statements of operations	(820)	0	0
Interest Rate Swaps
Derivative [Line Items]
Amount of gain recognized in OCI	2,626	8,202	2,994
Amount of previously recorded gain/(loss) reclassified from OCI into Interest Expense	3,365	(1,273)	(2,952)
Total amount of Interest Expense presented in the consolidated statements of operations	(101,258)	(65,656)	(51,292)
Total amount of Loss on Early Extinguishment of Debt presented in the consolidated statements of operations	$ (820)	$ 0	$ 0

Fair Value Measurements of Fi_3

Fair Value Measurements of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Interest rate swaps	$ 3,032	$ 4,183
Carrying Value
Assets:
Cash and cash equivalents	825	16,536
Restricted cash and escrows	3,381	3,064
Liabilities:
Accounts payable and accrued expenses	49,706	63,225
Debt, net	2,054,596	1,983,681
Carrying Value | Interest Rate Swaps
Assets:
Interest rate swaps	3,032	4,183
Carrying Value | Trade Accounts Receivable
Assets:
Tenant receivables, net	7,915	4,762
Estimated Fair Value | Level 1
Assets:
Cash and cash equivalents	825	16,536
Restricted cash and escrows	3,381	3,064
Liabilities:
Accounts payable and accrued expenses	49,706	63,225
Estimated Fair Value | Level 1 | Trade Accounts Receivable
Assets:
Tenant receivables, net	7,915	4,762
Estimated Fair Value | Level 2
Liabilities:
Debt, net	1,953,447	1,825,723
Estimated Fair Value | Level 2 | Interest Rate Swaps
Assets:
Interest rate swaps	$ 3,032	$ 4,183

Impairment Charges - Additional

Impairment Charges - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Real Estate [Abstract]
Goodwill impairment loss	$ 29.4	$ 16

Impairment Charges - Discount R

Impairment Charges - Discount Rates and the Capitalization Rate by Segment (Details)	12 Months Ended
	Dec. 31, 2023
Minimum | Range of Discount Rates | Boston
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	8.25%
Minimum | Range of Discount Rates | Minneapolis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	8.50%
Minimum | Range of Discount Rates | New York
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9.50%
Minimum | Range of Discount Rates | Northern Virginia/Washington D.C.
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	8.50%
Minimum | Range of Capitalization Rates | Boston
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	8.25%
Minimum | Range of Capitalization Rates | Minneapolis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	8.50%
Minimum | Range of Capitalization Rates | New York
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9%
Minimum | Range of Capitalization Rates | Northern Virginia/Washington D.C.
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	8.25%
Maximum | Range of Discount Rates | Boston
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9.75%
Maximum | Range of Discount Rates | Minneapolis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9.25%
Maximum | Range of Discount Rates | New York
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9.50%
Maximum | Range of Discount Rates | Northern Virginia/Washington D.C.
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9.50%
Maximum | Range of Capitalization Rates | Boston
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9%
Maximum | Range of Capitalization Rates | Minneapolis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9%
Maximum | Range of Capitalization Rates | New York
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9%
Maximum | Range of Capitalization Rates | Northern Virginia/Washington D.C.
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input	9.25%

Impairment Charges - Impairment

Impairment Charges - Impairment Losses on Real Estate Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Total impairment loss on real estate assets	$ 29,446	$ 25,981	$ 41,000
Disposal Group, Held-for-sale, Not Discontinued Operations
Impaired Long-Lived Assets Held and Used [Line Items]
Total impairment loss on real estate assets	0	10,000	41,000
Disposal Group, Held-for-sale, Not Discontinued Operations | 9320 Excelsior Boulevard
Impaired Long-Lived Assets Held and Used [Line Items]
Total impairment loss on real estate assets	0	10,000	0
Disposal Group, Held-for-sale, Not Discontinued Operations | Two Pierce Place
Impaired Long-Lived Assets Held and Used [Line Items]
Total impairment loss on real estate assets	$ 0	$ 0	$ 41,000

Commitments and Contingencies (

Commitments and Contingencies (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) commitment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Loss Contingencies [Line Items]
Number of unrecorded tenant allowance commitment | commitment	1
Contractual obligation	$ 10,000,000
Collectibility of Tenant Reimbursements
Loss Contingencies [Line Items]
Reductions in reimbursement revenues	$ 0	$ 0	$ 0

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to stock awards	$ 8.1	$ 8.8	$ 11
Amortization of unvested shares	$ 8.1	$ 7.7	$ 9.7
Total shares issued to employees, directors, and officers (in shares)	275,740
Unrecognized compensation cost related to nonvested	$ 11.4
Independent Director Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to nonvested, weighted-average vesting period	1 year

Stock Based Compensation - Equi

Stock Based Compensation - Equity Based Award Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares
Unvested and potential stock awards, end of period (in shares)	1,094,297
Stock Awards
Shares
Unvested and potential stock awards, beginning of period (in shares)	729,424
Unvested and potential stock awards, end of period (in shares)	1,094,297	729,424
Weighted-Average Grant Date Fair Value
Unvested and potential stock awards, beginning of period (in dollars per share)	$ 19.21
Unvested and potential stock awards, end of period (in dollars per share)	$ 11.35	$ 19.21
Deferred Stock Award
Shares
Stock awards granted (in shares)	987,094
Stock awards vested (in shares)	(366,466)
Deferred stock awards forfeited (in shares)	(16,884)
Weighted-Average Grant Date Fair Value
Stock awards granted (in dollars per share)	$ 9.60	$ 16.30	$ 17.24
Stock awards vested (in dollars per share)	14.87
Deferred stock awards forfeited (in dollars per share)	$ 11.26
Performance Share Awards
Shares
Stock awards granted (in shares)	424,922
Change in estimated potential share award based on TSR performance (in shares)	(573,729)
Stock awards vested (in shares)	(90,064)
Weighted-Average Grant Date Fair Value
Stock awards granted (in dollars per share)	$ 12.37
Change in estimated potential share award based on TSR performance (in dollars per share)	14.48
Stock awards vested (in dollars per share)	$ 25.83

Stock Based Compensation - Ad_2

Stock Based Compensation - Additional Information Regarding Stock Award Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value per share of deferred stock granted during the period (in dollars per share)	$ 9.60	$ 16.30	$ 17.24
Total Grant Date Fair Value of Deferred Stock Vested During the Period	$ 5,448	$ 6,414	$ 5,242
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value per share of deferred stock granted during the period (in dollars per share)	$ 12.37
Share-based liability awards paid during the period	$ 0	$ 5,481	$ 3,610

Stock Based Compensation - Outs

Stock Based Compensation - Outstanding Employee Deferred Stock Awards (Details) - $ / shares	May 10, 2023	Feb. 23, 2023	Feb. 13, 2023	Feb. 10, 2022	Feb. 17, 2021	Jul. 01, 2019	May 03, 2019	Dec. 31, 2023	Feb. 17, 2022	Feb. 18, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested potential shares (in shares)								1,094,297
Chief Executive Officer Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						5 years
Deferred Stock Award, Granted May 3, 2019 | Deferred Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net shares granted (in shares)							26,385
Grant date fair value (in dollars per share)							$ 21.04
Unvested potential shares (in shares)								9,505
Deferred Stock Award, Granted May 3, 2019 | Deferred Stock Award | Year 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)							20%
Deferred Stock Award, Granted May 3, 2019 | Deferred Stock Award | Year 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)							20%
Deferred Stock Award, Granted May 3, 2019 | Deferred Stock Award | Year 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)							20%
Deferred Stock Award, Granted May 3, 2019 | Deferred Stock Award | Year 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)							20%
Deferred Stock Award, Granted May 3, 2019 | Deferred Stock Award | Year 5
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)							20%
Deferred Stock Award, Granted February 17, 2021 | Deferred Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net shares granted (in shares)					211,595
Grant date fair value (in dollars per share)					$ 17.15
Unvested potential shares (in shares)								54,088
Deferred Stock Award, Granted February 17, 2021 | Deferred Stock Award | Year 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)					25%
Deferred Stock Award, Granted February 17, 2021 | Deferred Stock Award | Year 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)					25%
Deferred Stock Award, Granted February 17, 2021 | Deferred Stock Award | Year 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)					25%
Deferred Stock Award, Granted February 17, 2021 | Deferred Stock Award | Year 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)					25%
Performance Share Program Award, Granted February 18, 2021 | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net shares granted (in shares)										0
Grant date fair value (in dollars per share)										$ 23.04
Unvested potential shares (in shares)								0
Deferred Stock Award, Granted February 10, 2022 | Deferred Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net shares granted (in shares)				170,369
Grant date fair value (in dollars per share)				$ 16.85
Unvested potential shares (in shares)								106,472
Deferred Stock Award, Granted February 10, 2022 | Deferred Stock Award | Year 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)				25%
Deferred Stock Award, Granted February 10, 2022 | Deferred Stock Award | Year 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)				25%
Deferred Stock Award, Granted February 10, 2022 | Deferred Stock Award | Year 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)				25%
Deferred Stock Award, Granted February 10, 2022 | Deferred Stock Award | Year 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)				25%
Performance Share Program Award, Granted February 17, 2022 | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net shares granted (in shares)									0
Grant date fair value (in dollars per share)									$ 17.77
Unvested potential shares (in shares)								91,136
Deferred Stock Award, Granted February 13, 2023 | Deferred Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net shares granted (in shares)			392,991
Grant date fair value (in dollars per share)			$ 10.55
Unvested potential shares (in shares)								314,629
Deferred Stock Award, Granted February 13, 2023 | Deferred Stock Award | Year 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)			25%
Deferred Stock Award, Granted February 13, 2023 | Deferred Stock Award | Year 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)			25%
Deferred Stock Award, Granted February 13, 2023 | Deferred Stock Award | Year 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)			25%
Deferred Stock Award, Granted February 13, 2023 | Deferred Stock Award | Year 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)			25%
Performance Share Program Award, Granted February 23, 2023 | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net shares granted (in shares)		0
Grant date fair value (in dollars per share)		$ 12.37
Unvested potential shares (in shares)								0
Deferred Stock Award, Granted February 23, 2023 | Deferred Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net shares granted (in shares)		413,433
Grant date fair value (in dollars per share)		$ 9.47
Unvested potential shares (in shares)								396,707
Deferred Stock Award, Granted February 23, 2023 | Deferred Stock Award | Year 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)		25%
Deferred Stock Award, Granted February 23, 2023 | Deferred Stock Award | Year 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)		25%
Deferred Stock Award, Granted February 23, 2023 | Deferred Stock Award | Year 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)		25%
Deferred Stock Award, Granted February 23, 2023 | Deferred Stock Award | Year 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)		25%
Deferred Stock Award-Board of Directors, Granted May 10, 2023 | Deferred Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net shares granted (in shares)	121,760
Grant date fair value (in dollars per share)	$ 6.57
Unvested potential shares (in shares)								121,760
Deferred Stock Award-Board of Directors, Granted May 10, 2023 | Deferred Stock Award | Year 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting schedule (percent)	100%

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Anti-dilutive shares excluded (in shares)	1,030,824	421,005	1,114,025
Weighted-average common shares - basic (in shares)	123,658,622	123,351,187	123,977,616
Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards (in shares)	0	173,000	0
Weighted-average common shares - diluted (in shares)	123,658,622	123,523,881	123,977,616

Operating Leases - Rental Incom

Operating Leases - Rental Income Maturity (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 424,131
2025	401,657
2026	362,576
2027	322,114
2028	275,559
Thereafter	1,079,279
Total	$ 2,865,316

Operating Leases - Operating In

Operating Leases - Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Fixed payments	$ 454,405	$ 451,403	$ 427,174
Variable payments	100,908	94,338	87,445
Total Rental and Tenant Reimbursement Revenue	$ 555,313	$ 545,741	$ 514,619

Operating Leases - Additional I

Operating Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Prepaid expenses and other assets	Prepaid expenses and other assets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accounts payable, accrued expenses, and accrued capital expenditures	Accounts payable, accrued expenses, and accrued capital expenditures
Lease liability	$ 0.1	$ 0.2
Right-of-use asset	0.1	0.2
Operating lease cost	$ 0.1	$ 0.1	$ 0.1
Operating lease, weighted average remaining lease term	1 year
Weighted-average discount rate	3.86%

Property Dispositions and Ass_3

Property Dispositions and Assets Held for Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Sales Proceeds	$ 1,946	$ 297,388	$ 0
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on Sale of Real Estate Assets	1,900
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Two Pierce Place
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on Sale of Real Estate Assets	1,741
Net Sales Proceeds	24,272
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 225 and 235 Presidential Way
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on Sale of Real Estate Assets	49,218
Net Sales Proceeds	119,609
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Cambridge Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on Sale of Real Estate Assets	102,570
Net Sales Proceeds	$ 155,307

Supplemental Disclosures for _3

Supplemental Disclosures for the Statement of Consolidated Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Tenant improvements funded by tenants	$ 33,472	$ 2,961	$ 48,842
Accrued capital expenditures and deferred lease costs	28,173	24,379	24,817
Change in accrued dividends	(10,215)	(691)	(365)
Change in accrued share repurchases as part of an announced plan	0	0	(685)
Change in accrued deferred financing costs	(189)	44	0
Cash and cash equivalents	825	16,536	7,419	$ 7,331
Restricted cash and escrows	3,381	3,064	1,441	1,883
Total cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statement of cash flows	$ 4,206	$ 19,600	$ 8,860	$ 9,214

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
GAAP basis financial statement net income/(loss)	$ (48,387,000)	$ 146,830,000	$ (1,153,000)
Depreciation and amortization expense recognized for financial reporting purposes in excess of amounts recognized for income tax purposes	93,791,000	96,694,000	75,969,000
Rental income accrued for income tax purposes less than amounts for financial reporting purposes	(18,817,000)	(26,211,000)	(18,798,000)
Net amortization of above/below-market lease intangibles for income tax purposes in excess of amounts for financial reporting purposes	(12,049,000)	(13,022,000)	(9,465,000)
Gain on disposal of property for financial reporting purposes in excess of amounts for income tax purposes	0	(137,871,000)	0
Other expenses, including impairment charges, for financial reporting purposes in excess of amounts for income tax purposes	40,173,000	30,310,000	51,095,000
Income tax basis net income, prior to dividends paid deduction	$ 60,984,000	$ 99,841,000	$ 100,512,000
Ordinary income	63.22%	82.85%	96.34%
Return of capital	34.69%	3.79%	3.66%
Capital gains	2.08%	13.36%	0%
Common stock dividends, percent	100%	100%	100%
Accrued interest and penalties related to uncertain tax positions	$ 0	$ 0
Piedmont Washington Properties, Inc
Income Taxes [Line Items]
Taxable income for subsidiary in excess of/(less than) amount for financial reporting purposes	6,212,000	3,111,000	$ 3,518,000
Piedmont Office Holdings, Inc
Income Taxes [Line Items]
Taxable income for subsidiary in excess of/(less than) amount for financial reporting purposes	$ 61,000	$ 0	$ (654,000)

Segment Information - Additiona

Segment Information - Additional Information (Details)	Dec. 31, 2023 property
Segment Reporting, Other Significant Reconciling Item [Line Items]
Number of real estate properties	51
Other Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Number of real estate properties	2
Houston | Other Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Number of real estate properties	2

Segment Information - Revenue b

Segment Information - Revenue by Geographical Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	$ 577,756	$ 563,766	$ 528,710
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	555,514	539,196	503,453
Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	22,242	24,570	25,257
Atlanta | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	161,310	131,230	98,330
Dallas | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	111,592	109,298	110,729
Orlando | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	61,688	58,203	54,603
Northern Virginia/Washington D.C. | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	60,324	63,534	60,329
Minneapolis | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	63,713	61,530	61,563
New York | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	54,040	56,189	52,454
Boston | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Revenues	$ 42,847	$ 59,212	$ 65,445

Segment Information - NOI by Ge

Segment Information - NOI by Geographical Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	$ 342,345	$ 337,567	$ 317,627
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	329,376	322,882	307,464
Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	12,969	14,685	10,163
Atlanta | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	103,475	82,878	62,772
Dallas | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	64,566	62,444	66,155
Orlando | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	36,639	35,327	33,449
Northern Virginia/Washington D.C. | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	36,334	39,994	36,914
Minneapolis | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	33,302	31,886	32,538
New York | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	29,357	31,252	30,049
Boston | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total NOI	$ 25,703	$ 39,101	$ 45,587

Segment Information - Reconcili

Segment Information - Reconciliation of GAAP Net Income to NOI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting [Abstract]
Net income/(loss) applicable to Piedmont	$ (48,387)	$ 146,830	$ (1,153)
Management fee revenue	(1,004)	(1,004)	(1,269)
Depreciation and amortization	236,214	224,553	206,608
Impairment charges	29,446	25,981	41,000
General and administrative expenses	29,190	29,127	30,252
Interest expense	101,258	65,656	51,292
Other income	(3,256)	(1,847)	(9,089)
Loss on early extinguishment of debt	820	0	0
Gain on sale of real estate assets	(1,946)	(151,729)	0
Net loss applicable to noncontrolling interests	10	0	(14)
NOI	$ 342,345	$ 337,567	$ 317,627

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)			12 Months Ended
	Feb. 01, 2024	Jan. 30, 2024	Dec. 31, 2023
Subsequent Event
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 0.125
$200 Million Syndicated Bank Term Loan | Unsecured Debt | Subsequent Event
Subsequent Event [Line Items]
Debt instrument, face amount		$ 200,000,000
$200 Million Unsecured 2022 Term Loan Facility | Unsecured Debt
Subsequent Event [Line Items]
Debt instrument, face amount			$ 200,000,000
Repayments of unsecured debt			100,000,000
$200 Million Unsecured 2022 Term Loan Facility | Unsecured Debt | Subsequent Event
Subsequent Event [Line Items]
Repayments of unsecured debt		100,000,000
$215 Million Unsecured 2023 Term Loan | Unsecured Debt
Subsequent Event [Line Items]
Debt instrument, face amount			$ 215,000,000
$215 Million Unsecured 2023 Term Loan | Unsecured Debt | Subsequent Event
Subsequent Event [Line Items]
Repayments of unsecured debt		$ 190,000,000

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate and Accumulated Depreciation [Line Items]
Gross Amount at Which Carried, Total	$ 4,647,105	$ 4,506,328	$ 4,206,993
Accumulated Depreciation and Amortization	1,134,578	1,005,704	961,682
Tax basis of total assets	3,900,000
Impairment charges	29,446	25,981	41,000
Real Estate:
Balance at the beginning of the year	4,506,328	4,206,993	3,891,426
Additions to/improvements of real estate	191,305	565,552	379,516
Assets disposed	0	(214,728)	0
Assets impaired	0	(10,000)	(41,000)
Write-offs of fully amortized intangible assets	(34,419)	(26,430)	(13,646)
Write-offs of fully depreciated assets	(16,109)	(15,059)	(9,303)
Balance at the end of the year	4,647,105	4,506,328	4,206,993
Accumulated Depreciation and Amortization:
Balance at the beginning of the year	1,005,704	961,682	835,392
Depreciation and amortization expense	179,402	166,234	149,239
Assets disposed	0	(80,723)	0
Write-offs of fully amortized intangible assets	(34,419)	(26,430)	(13,646)
Write-offs of fully depreciated assets	(16,109)	(15,059)	(9,303)
Balance at the end of the year	$ 1,134,578	$ 1,005,704	$ 961,682
Buildings
Real Estate and Accumulated Depreciation [Line Items]
Useful life	40 years
Wholly Owned Properties
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost, Land	$ 546,496
Initial Cost, Buildings and Improvements	3,436,705
Initial Cost, Total	3,983,201
Costs Capitalized Subsequent to Acquisition	663,904
Gross Amount at Which Carried, Land	567,244
Gross Amount at Which Carried, Buildings and Improvements	4,079,861
Gross Amount at Which Carried, Total	4,647,105
Accumulated Depreciation and Amortization	1,134,578
Real Estate:
Balance at the end of the year	4,647,105
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 1,134,578
Minimum | Building improvements
Real Estate and Accumulated Depreciation [Line Items]
Useful life	5 years
Minimum | Land improvements
Real Estate and Accumulated Depreciation [Line Items]
Useful life	20 years
Maximum | Building improvements
Real Estate and Accumulated Depreciation [Line Items]
Useful life	25 years
Maximum | Land improvements
Real Estate and Accumulated Depreciation [Line Items]
Useful life	25 years
1430 ENCLAVE PARKWAY
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 7,100
Initial Cost, Buildings and Improvements	37,915
Initial Cost, Total	45,015
Costs Capitalized Subsequent to Acquisition	7,248
Gross Amount at Which Carried, Land	5,506
Gross Amount at Which Carried, Buildings and Improvements	46,757
Gross Amount at Which Carried, Total	52,263
Accumulated Depreciation and Amortization	26,315
Real Estate:
Balance at the end of the year	52,263
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 26,315
1430 ENCLAVE PARKWAY | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
1430 ENCLAVE PARKWAY | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
CRESCENT RIDGE II
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 7,700
Initial Cost, Buildings and Improvements	45,154
Initial Cost, Total	52,854
Costs Capitalized Subsequent to Acquisition	16,771
Gross Amount at Which Carried, Land	8,021
Gross Amount at Which Carried, Buildings and Improvements	61,604
Gross Amount at Which Carried, Total	69,625
Accumulated Depreciation and Amortization	32,336
Real Estate:
Balance at the end of the year	69,625
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 32,336
CRESCENT RIDGE II | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
CRESCENT RIDGE II | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
90 CENTRAL STREET
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 3,642
Initial Cost, Buildings and Improvements	29,497
Initial Cost, Total	33,139
Costs Capitalized Subsequent to Acquisition	3,386
Gross Amount at Which Carried, Land	3,642
Gross Amount at Which Carried, Buildings and Improvements	32,883
Gross Amount at Which Carried, Total	36,525
Accumulated Depreciation and Amortization	17,524
Real Estate:
Balance at the end of the year	36,525
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 17,524
90 CENTRAL STREET | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
90 CENTRAL STREET | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
6031 CONNECTION DRIVE
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 3,157
Initial Cost, Buildings and Improvements	43,656
Initial Cost, Total	46,813
Costs Capitalized Subsequent to Acquisition	16,000
Gross Amount at Which Carried, Land	3,157
Gross Amount at Which Carried, Buildings and Improvements	59,656
Gross Amount at Which Carried, Total	62,813
Accumulated Depreciation and Amortization	27,455
Real Estate:
Balance at the end of the year	62,813
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 27,455
6031 CONNECTION DRIVE | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
6031 CONNECTION DRIVE | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
6021 CONNECTION DRIVE
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 3,157
Initial Cost, Buildings and Improvements	42,662
Initial Cost, Total	45,819
Costs Capitalized Subsequent to Acquisition	12,169
Gross Amount at Which Carried, Land	3,157
Gross Amount at Which Carried, Buildings and Improvements	54,831
Gross Amount at Which Carried, Total	57,988
Accumulated Depreciation and Amortization	31,848
Real Estate:
Balance at the end of the year	57,988
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 31,848
6021 CONNECTION DRIVE | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
6021 CONNECTION DRIVE | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
6011 CONNECTION DRIVE
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 3,157
Initial Cost, Buildings and Improvements	29,034
Initial Cost, Total	32,191
Costs Capitalized Subsequent to Acquisition	18,524
Gross Amount at Which Carried, Land	3,157
Gross Amount at Which Carried, Buildings and Improvements	47,558
Gross Amount at Which Carried, Total	50,715
Accumulated Depreciation and Amortization	20,540
Real Estate:
Balance at the end of the year	50,715
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 20,540
6011 CONNECTION DRIVE | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
6011 CONNECTION DRIVE | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
US BANCORP CENTER
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 11,138
Initial Cost, Buildings and Improvements	175,629
Initial Cost, Total	186,767
Costs Capitalized Subsequent to Acquisition	38,695
Gross Amount at Which Carried, Land	11,138
Gross Amount at Which Carried, Buildings and Improvements	214,324
Gross Amount at Which Carried, Total	225,462
Accumulated Depreciation and Amortization	111,336
Real Estate:
Balance at the end of the year	225,462
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 111,336
US BANCORP CENTER | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
US BANCORP CENTER | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
GLENRIDGE HIGHLANDS TWO
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 6,662
Initial Cost, Buildings and Improvements	69,031
Initial Cost, Total	75,693
Costs Capitalized Subsequent to Acquisition	(231)
Gross Amount at Which Carried, Land	6,662
Gross Amount at Which Carried, Buildings and Improvements	68,800
Gross Amount at Which Carried, Total	75,462
Accumulated Depreciation and Amortization	32,759
Real Estate:
Balance at the end of the year	75,462
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 32,759
GLENRIDGE HIGHLANDS TWO | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
GLENRIDGE HIGHLANDS TWO | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
400 VIRGINIA AVE
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 22,146
Initial Cost, Buildings and Improvements	49,740
Initial Cost, Total	71,886
Costs Capitalized Subsequent to Acquisition	6,646
Gross Amount at Which Carried, Land	22,146
Gross Amount at Which Carried, Buildings and Improvements	56,386
Gross Amount at Which Carried, Total	78,532
Accumulated Depreciation and Amortization	26,510
Real Estate:
Balance at the end of the year	78,532
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 26,510
400 VIRGINIA AVE | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
400 VIRGINIA AVE | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
4250 NORTH FAIRFAX DRIVE
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 13,636
Initial Cost, Buildings and Improvements	70,918
Initial Cost, Total	84,554
Costs Capitalized Subsequent to Acquisition	19,047
Gross Amount at Which Carried, Land	13,636
Gross Amount at Which Carried, Buildings and Improvements	89,965
Gross Amount at Which Carried, Total	103,601
Accumulated Depreciation and Amortization	46,206
Real Estate:
Balance at the end of the year	103,601
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 46,206
4250 NORTH FAIRFAX DRIVE | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
4250 NORTH FAIRFAX DRIVE | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
1225 EYE STREET
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	98.10%
Initial Cost, Land	$ 21,959
Initial Cost, Buildings and Improvements	47,602
Initial Cost, Total	69,561
Costs Capitalized Subsequent to Acquisition	10,084
Gross Amount at Which Carried, Land	21,959
Gross Amount at Which Carried, Buildings and Improvements	57,686
Gross Amount at Which Carried, Total	79,645
Accumulated Depreciation and Amortization	31,747
Real Estate:
Balance at the end of the year	79,645
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 31,747
1225 EYE STREET | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
1225 EYE STREET | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
1201 EYE STREET
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	98.60%
Initial Cost, Land	$ 31,985
Initial Cost, Buildings and Improvements	63,139
Initial Cost, Total	95,124
Costs Capitalized Subsequent to Acquisition	13,756
Gross Amount at Which Carried, Land	31,985
Gross Amount at Which Carried, Buildings and Improvements	76,895
Gross Amount at Which Carried, Total	108,880
Accumulated Depreciation and Amortization	37,854
Real Estate:
Balance at the end of the year	108,880
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 37,854
1201 EYE STREET | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
1201 EYE STREET | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
60 BROAD STREET
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 32,522
Initial Cost, Buildings and Improvements	168,986
Initial Cost, Total	201,508
Costs Capitalized Subsequent to Acquisition	99,451
Gross Amount at Which Carried, Land	60,708
Gross Amount at Which Carried, Buildings and Improvements	240,251
Gross Amount at Which Carried, Total	300,959
Accumulated Depreciation and Amortization	84,807
Real Estate:
Balance at the end of the year	300,959
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 84,807
60 BROAD STREET | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
60 BROAD STREET | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
3100 CLARENDON BOULEVARD
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 11,700
Initial Cost, Buildings and Improvements	69,705
Initial Cost, Total	81,405
Costs Capitalized Subsequent to Acquisition	52,948
Gross Amount at Which Carried, Land	11,791
Gross Amount at Which Carried, Buildings and Improvements	122,562
Gross Amount at Which Carried, Total	134,353
Accumulated Depreciation and Amortization	53,705
Real Estate:
Balance at the end of the year	134,353
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 53,705
3100 CLARENDON BOULEVARD | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
3100 CLARENDON BOULEVARD | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
LAS COLINAS CORPORATE CENTER I
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 3,912
Initial Cost, Buildings and Improvements	18,830
Initial Cost, Total	22,742
Costs Capitalized Subsequent to Acquisition	2,487
Gross Amount at Which Carried, Land	2,543
Gross Amount at Which Carried, Buildings and Improvements	22,686
Gross Amount at Which Carried, Total	25,229
Accumulated Depreciation and Amortization	7,329
Real Estate:
Balance at the end of the year	25,229
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 7,329
LAS COLINAS CORPORATE CENTER I | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
LAS COLINAS CORPORATE CENTER I | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
LAS COLINAS CORPORATE CENTER II
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 4,496
Initial Cost, Buildings and Improvements	29,881
Initial Cost, Total	34,377
Costs Capitalized Subsequent to Acquisition	987
Gross Amount at Which Carried, Land	2,543
Gross Amount at Which Carried, Buildings and Improvements	32,821
Gross Amount at Which Carried, Total	35,364
Accumulated Depreciation and Amortization	14,931
Real Estate:
Balance at the end of the year	35,364
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 14,931
LAS COLINAS CORPORATE CENTER II | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
LAS COLINAS CORPORATE CENTER II | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
ONE MERIDIAN CROSSINGS
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 2,919
Initial Cost, Buildings and Improvements	24,398
Initial Cost, Total	27,317
Costs Capitalized Subsequent to Acquisition	(160)
Gross Amount at Which Carried, Land	2,919
Gross Amount at Which Carried, Buildings and Improvements	24,238
Gross Amount at Which Carried, Total	27,157
Accumulated Depreciation and Amortization	8,058
Real Estate:
Balance at the end of the year	27,157
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 8,058
ONE MERIDIAN CROSSINGS | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
ONE MERIDIAN CROSSINGS | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
TWO MERIDIAN CROSSINGS
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 2,661
Initial Cost, Buildings and Improvements	25,742
Initial Cost, Total	28,403
Costs Capitalized Subsequent to Acquisition	1,930
Gross Amount at Which Carried, Land	2,661
Gross Amount at Which Carried, Buildings and Improvements	27,672
Gross Amount at Which Carried, Total	30,333
Accumulated Depreciation and Amortization	8,579
Real Estate:
Balance at the end of the year	30,333
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 8,579
TWO MERIDIAN CROSSINGS | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
TWO MERIDIAN CROSSINGS | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
THE MEDICI
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 1,780
Initial Cost, Buildings and Improvements	11,510
Initial Cost, Total	13,290
Costs Capitalized Subsequent to Acquisition	5,927
Gross Amount at Which Carried, Land	1,780
Gross Amount at Which Carried, Buildings and Improvements	17,437
Gross Amount at Which Carried, Total	19,217
Accumulated Depreciation and Amortization	7,780
Real Estate:
Balance at the end of the year	19,217
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 7,780
THE MEDICI | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
THE MEDICI | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
400 TOWNPARK
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 2,570
Initial Cost, Buildings and Improvements	20,555
Initial Cost, Total	23,125
Costs Capitalized Subsequent to Acquisition	4,865
Gross Amount at Which Carried, Land	2,570
Gross Amount at Which Carried, Buildings and Improvements	25,420
Gross Amount at Which Carried, Total	27,990
Accumulated Depreciation and Amortization	10,495
Real Estate:
Balance at the end of the year	27,990
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 10,495
400 TOWNPARK | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
400 TOWNPARK | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
ARLINGTON GATEWAY
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 36,930
Initial Cost, Buildings and Improvements	129,070
Initial Cost, Total	166,000
Costs Capitalized Subsequent to Acquisition	6,235
Gross Amount at Which Carried, Land	36,930
Gross Amount at Which Carried, Buildings and Improvements	135,305
Gross Amount at Which Carried, Total	172,235
Accumulated Depreciation and Amortization	39,897
Real Estate:
Balance at the end of the year	172,235
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 39,897
ARLINGTON GATEWAY | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
ARLINGTON GATEWAY | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
5 & 15 WAYSIDE ROAD
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 7,190
Initial Cost, Buildings and Improvements	55,445
Initial Cost, Total	62,635
Costs Capitalized Subsequent to Acquisition	34,682
Gross Amount at Which Carried, Land	7,190
Gross Amount at Which Carried, Buildings and Improvements	90,127
Gross Amount at Which Carried, Total	97,317
Accumulated Depreciation and Amortization	22,155
Real Estate:
Balance at the end of the year	97,317
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 22,155
5 & 15 WAYSIDE ROAD | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
5 & 15 WAYSIDE ROAD | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
6565 MACARTHUR BOULEVARD
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 4,820
Initial Cost, Buildings and Improvements	37,767
Initial Cost, Total	42,587
Costs Capitalized Subsequent to Acquisition	6,458
Gross Amount at Which Carried, Land	4,820
Gross Amount at Which Carried, Buildings and Improvements	44,225
Gross Amount at Which Carried, Total	49,045
Accumulated Depreciation and Amortization	13,607
Real Estate:
Balance at the end of the year	49,045
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 13,607
6565 MACARTHUR BOULEVARD | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
6565 MACARTHUR BOULEVARD | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
ONE LINCOLN PARK
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 6,640
Initial Cost, Buildings and Improvements	44,810
Initial Cost, Total	51,450
Costs Capitalized Subsequent to Acquisition	12,098
Gross Amount at Which Carried, Land	6,640
Gross Amount at Which Carried, Buildings and Improvements	56,908
Gross Amount at Which Carried, Total	63,548
Accumulated Depreciation and Amortization	13,849
Real Estate:
Balance at the end of the year	63,548
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 13,849
ONE LINCOLN PARK | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
ONE LINCOLN PARK | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
161 CORPORATE CENTER
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 2,020
Initial Cost, Buildings and Improvements	10,680
Initial Cost, Total	12,700
Costs Capitalized Subsequent to Acquisition	499
Gross Amount at Which Carried, Land	2,020
Gross Amount at Which Carried, Buildings and Improvements	11,179
Gross Amount at Which Carried, Total	13,199
Accumulated Depreciation and Amortization	2,922
Real Estate:
Balance at the end of the year	13,199
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 2,922
161 CORPORATE CENTER | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
161 CORPORATE CENTER | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
5 WALL STREET
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 9,560
Initial Cost, Buildings and Improvements	50,276
Initial Cost, Total	59,836
Costs Capitalized Subsequent to Acquisition	6,108
Gross Amount at Which Carried, Land	9,560
Gross Amount at Which Carried, Buildings and Improvements	56,384
Gross Amount at Which Carried, Total	65,944
Accumulated Depreciation and Amortization	15,390
Real Estate:
Balance at the end of the year	65,944
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 15,390
5 WALL STREET | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
5 WALL STREET | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
1155 PERIMETER CENTER WEST
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 5,870
Initial Cost, Buildings and Improvements	66,849
Initial Cost, Total	72,719
Costs Capitalized Subsequent to Acquisition	23,884
Gross Amount at Which Carried, Land	5,870
Gross Amount at Which Carried, Buildings and Improvements	90,733
Gross Amount at Which Carried, Total	96,603
Accumulated Depreciation and Amortization	21,694
Real Estate:
Balance at the end of the year	96,603
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 21,694
1155 PERIMETER CENTER WEST | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
1155 PERIMETER CENTER WEST | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
500 TOWNPARK
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 2,147
Initial Cost, Buildings and Improvements	21,925
Initial Cost, Total	24,072
Costs Capitalized Subsequent to Acquisition	5,123
Gross Amount at Which Carried, Land	2,147
Gross Amount at Which Carried, Buildings and Improvements	27,048
Gross Amount at Which Carried, Total	29,195
Accumulated Depreciation and Amortization	6,667
Real Estate:
Balance at the end of the year	29,195
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 6,667
500 TOWNPARK | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
500 TOWNPARK | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
PARK PLACE ON TURTLE CREEK
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 4,470
Initial Cost, Buildings and Improvements	38,048
Initial Cost, Total	42,518
Costs Capitalized Subsequent to Acquisition	8,766
Gross Amount at Which Carried, Land	4,470
Gross Amount at Which Carried, Buildings and Improvements	46,814
Gross Amount at Which Carried, Total	51,284
Accumulated Depreciation and Amortization	11,589
Real Estate:
Balance at the end of the year	51,284
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 11,589
PARK PLACE ON TURTLE CREEK | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
PARK PLACE ON TURTLE CREEK | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
80 CENTRAL STREET
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 1,980
Initial Cost, Buildings and Improvements	8,930
Initial Cost, Total	10,910
Costs Capitalized Subsequent to Acquisition	3,168
Gross Amount at Which Carried, Land	1,980
Gross Amount at Which Carried, Buildings and Improvements	12,098
Gross Amount at Which Carried, Total	14,078
Accumulated Depreciation and Amortization	2,632
Real Estate:
Balance at the end of the year	14,078
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 2,632
80 CENTRAL STREET | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
80 CENTRAL STREET | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
ENCLAVE PLACE
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 1,890
Initial Cost, Buildings and Improvements	60,094
Initial Cost, Total	61,984
Costs Capitalized Subsequent to Acquisition	35,319
Gross Amount at Which Carried, Land	1,890
Gross Amount at Which Carried, Buildings and Improvements	95,413
Gross Amount at Which Carried, Total	97,303
Accumulated Depreciation and Amortization	21,135
Real Estate:
Balance at the end of the year	97,303
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 21,135
ENCLAVE PLACE | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
ENCLAVE PLACE | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
SUNTRUST CENTER
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 11,660
Initial Cost, Buildings and Improvements	139,015
Initial Cost, Total	150,675
Costs Capitalized Subsequent to Acquisition	46,241
Gross Amount at Which Carried, Land	11,660
Gross Amount at Which Carried, Buildings and Improvements	185,256
Gross Amount at Which Carried, Total	196,916
Accumulated Depreciation and Amortization	40,236
Real Estate:
Balance at the end of the year	196,916
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 40,236
SUNTRUST CENTER | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
SUNTRUST CENTER | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
GALLERIA 300
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 4,000
Initial Cost, Buildings and Improvements	73,554
Initial Cost, Total	77,554
Costs Capitalized Subsequent to Acquisition	11,030
Gross Amount at Which Carried, Land	4,000
Gross Amount at Which Carried, Buildings and Improvements	84,584
Gross Amount at Which Carried, Total	88,584
Accumulated Depreciation and Amortization	21,884
Real Estate:
Balance at the end of the year	88,584
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 21,884
GALLERIA 300 | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
GALLERIA 300 | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
GLENRIDGE HIGHLANDS ONE
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 5,960
Initial Cost, Buildings and Improvements	50,013
Initial Cost, Total	55,973
Costs Capitalized Subsequent to Acquisition	8,070
Gross Amount at Which Carried, Land	5,960
Gross Amount at Which Carried, Buildings and Improvements	58,083
Gross Amount at Which Carried, Total	64,043
Accumulated Depreciation and Amortization	12,862
Real Estate:
Balance at the end of the year	64,043
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 12,862
GLENRIDGE HIGHLANDS ONE | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
GLENRIDGE HIGHLANDS ONE | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
CNL CENTER I
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	99%
Initial Cost, Land	$ 6,470
Initial Cost, Buildings and Improvements	77,858
Initial Cost, Total	84,328
Costs Capitalized Subsequent to Acquisition	5,780
Gross Amount at Which Carried, Land	6,470
Gross Amount at Which Carried, Buildings and Improvements	83,638
Gross Amount at Which Carried, Total	90,108
Accumulated Depreciation and Amortization	19,367
Real Estate:
Balance at the end of the year	90,108
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 19,367
CNL CENTER I | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
CNL CENTER I | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
CNL CENTER II
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	99%
Initial Cost, Land	$ 4,550
Initial Cost, Buildings and Improvements	55,609
Initial Cost, Total	60,159
Costs Capitalized Subsequent to Acquisition	2,157
Gross Amount at Which Carried, Land	4,550
Gross Amount at Which Carried, Buildings and Improvements	57,766
Gross Amount at Which Carried, Total	62,316
Accumulated Depreciation and Amortization	14,573
Real Estate:
Balance at the end of the year	62,316
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 14,573
CNL CENTER II | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
CNL CENTER II | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
ONE WAYSIDE ROAD
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 6,240
Initial Cost, Buildings and Improvements	57,124
Initial Cost, Total	63,364
Costs Capitalized Subsequent to Acquisition	2,029
Gross Amount at Which Carried, Land	6,240
Gross Amount at Which Carried, Buildings and Improvements	59,153
Gross Amount at Which Carried, Total	65,393
Accumulated Depreciation and Amortization	13,200
Real Estate:
Balance at the end of the year	65,393
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 13,200
ONE WAYSIDE ROAD | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
ONE WAYSIDE ROAD | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
GALLERIA 200
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 6,470
Initial Cost, Buildings and Improvements	55,825
Initial Cost, Total	62,295
Costs Capitalized Subsequent to Acquisition	23,490
Gross Amount at Which Carried, Land	6,470
Gross Amount at Which Carried, Buildings and Improvements	79,315
Gross Amount at Which Carried, Total	85,785
Accumulated Depreciation and Amortization	17,637
Real Estate:
Balance at the end of the year	85,785
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 17,637
GALLERIA 200 | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
GALLERIA 200 | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
750 WEST JOHN CARPENTER FREEWAY
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 7,860
Initial Cost, Buildings and Improvements	36,303
Initial Cost, Total	44,163
Costs Capitalized Subsequent to Acquisition	(584)
Gross Amount at Which Carried, Land	7,860
Gross Amount at Which Carried, Buildings and Improvements	35,719
Gross Amount at Which Carried, Total	43,579
Accumulated Depreciation and Amortization	7,376
Real Estate:
Balance at the end of the year	43,579
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 7,376
750 WEST JOHN CARPENTER FREEWAY | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
750 WEST JOHN CARPENTER FREEWAY | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
NORMAN POINTE I
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 4,358
Initial Cost, Buildings and Improvements	22,322
Initial Cost, Total	26,680
Costs Capitalized Subsequent to Acquisition	5,275
Gross Amount at Which Carried, Land	4,361
Gross Amount at Which Carried, Buildings and Improvements	27,594
Gross Amount at Which Carried, Total	31,955
Accumulated Depreciation and Amortization	7,937
Real Estate:
Balance at the end of the year	31,955
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 7,937
NORMAN POINTE I | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
NORMAN POINTE I | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
501 WEST CHURCH STREET
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 2,805
Initial Cost, Buildings and Improvements	28,119
Initial Cost, Total	30,924
Costs Capitalized Subsequent to Acquisition	277
Gross Amount at Which Carried, Land	2,805
Gross Amount at Which Carried, Buildings and Improvements	28,396
Gross Amount at Which Carried, Total	31,201
Accumulated Depreciation and Amortization	6,937
Real Estate:
Balance at the end of the year	31,201
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 6,937
501 WEST CHURCH STREET | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
501 WEST CHURCH STREET | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
9320 Excelsior Boulevard
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 3,760
Initial Cost, Buildings and Improvements	35,289
Initial Cost, Total	39,049
Costs Capitalized Subsequent to Acquisition	(10,466)
Gross Amount at Which Carried, Land	3,707
Gross Amount at Which Carried, Buildings and Improvements	24,876
Gross Amount at Which Carried, Total	28,583
Accumulated Depreciation and Amortization	10,716
Real Estate:
Balance at the end of the year	28,583
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 10,716
9320 Excelsior Boulevard | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
9320 Excelsior Boulevard | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
25 BURLINGTON MALL ROAD
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 10,230
Initial Cost, Buildings and Improvements	54,787
Initial Cost, Total	65,017
Costs Capitalized Subsequent to Acquisition	4,480
Gross Amount at Which Carried, Land	10,230
Gross Amount at Which Carried, Buildings and Improvements	59,267
Gross Amount at Which Carried, Total	69,497
Accumulated Depreciation and Amortization	8,398
Real Estate:
Balance at the end of the year	69,497
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 8,398
25 BURLINGTON MALL ROAD | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
25 BURLINGTON MALL ROAD | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
GALLERIA 100
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 7,285
Initial Cost, Buildings and Improvements	72,449
Initial Cost, Total	79,734
Costs Capitalized Subsequent to Acquisition	5,556
Gross Amount at Which Carried, Land	7,285
Gross Amount at Which Carried, Buildings and Improvements	78,005
Gross Amount at Which Carried, Total	85,290
Accumulated Depreciation and Amortization	13,634
Real Estate:
Balance at the end of the year	85,290
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 13,634
GALLERIA 100 | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
GALLERIA 100 | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
GALLERIA 400
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 5,687
Initial Cost, Buildings and Improvements	92,915
Initial Cost, Total	98,602
Costs Capitalized Subsequent to Acquisition	3,124
Gross Amount at Which Carried, Land	5,687
Gross Amount at Which Carried, Buildings and Improvements	96,039
Gross Amount at Which Carried, Total	101,726
Accumulated Depreciation and Amortization	13,071
Real Estate:
Balance at the end of the year	101,726
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 13,071
GALLERIA 400 | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
GALLERIA 400 | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
GALLERIA 600
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 5,418
Initial Cost, Buildings and Improvements	81,003
Initial Cost, Total	86,421
Costs Capitalized Subsequent to Acquisition	11,452
Gross Amount at Which Carried, Land	5,418
Gross Amount at Which Carried, Buildings and Improvements	92,455
Gross Amount at Which Carried, Total	97,873
Accumulated Depreciation and Amortization	11,522
Real Estate:
Balance at the end of the year	97,873
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 11,522
GALLERIA 600 | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
GALLERIA 600 | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
ONE GALLERIA TOWER
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 5,286
Initial Cost, Buildings and Improvements	107,767
Initial Cost, Total	113,053
Costs Capitalized Subsequent to Acquisition	16,150
Gross Amount at Which Carried, Land	5,286
Gross Amount at Which Carried, Buildings and Improvements	123,917
Gross Amount at Which Carried, Total	129,203
Accumulated Depreciation and Amortization	24,254
Real Estate:
Balance at the end of the year	129,203
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 24,254
ONE GALLERIA TOWER | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
ONE GALLERIA TOWER | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
TWO GALLERIA TOWER
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 3,835
Initial Cost, Buildings and Improvements	109,605
Initial Cost, Total	113,440
Costs Capitalized Subsequent to Acquisition	7,140
Gross Amount at Which Carried, Land	3,836
Gross Amount at Which Carried, Buildings and Improvements	116,744
Gross Amount at Which Carried, Total	120,580
Accumulated Depreciation and Amortization	21,200
Real Estate:
Balance at the end of the year	120,580
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 21,200
TWO GALLERIA TOWER | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
TWO GALLERIA TOWER | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
THREE GALLERIA TOWER
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 6,541
Initial Cost, Buildings and Improvements	125,490
Initial Cost, Total	132,031
Costs Capitalized Subsequent to Acquisition	2,637
Gross Amount at Which Carried, Land	6,541
Gross Amount at Which Carried, Buildings and Improvements	128,127
Gross Amount at Which Carried, Total	134,668
Accumulated Depreciation and Amortization	14,521
Real Estate:
Balance at the end of the year	134,668
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 14,521
THREE GALLERIA TOWER | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
THREE GALLERIA TOWER | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
222 SOUTH ORANGE AVENUE
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 1,899
Initial Cost, Buildings and Improvements	18,417
Initial Cost, Total	20,316
Costs Capitalized Subsequent to Acquisition	10,798
Gross Amount at Which Carried, Land	1,899
Gross Amount at Which Carried, Buildings and Improvements	29,215
Gross Amount at Which Carried, Total	31,114
Accumulated Depreciation and Amortization	136
Real Estate:
Balance at the end of the year	31,114
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 136
222 SOUTH ORANGE AVENUE | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
222 SOUTH ORANGE AVENUE | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
999 PEACHTREE STREET
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 49,067
Initial Cost, Buildings and Improvements	156,109
Initial Cost, Total	205,176
Costs Capitalized Subsequent to Acquisition	29,572
Gross Amount at Which Carried, Land	49,067
Gross Amount at Which Carried, Buildings and Improvements	185,681
Gross Amount at Which Carried, Total	234,748
Accumulated Depreciation and Amortization	21,236
Real Estate:
Balance at the end of the year	234,748
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 21,236
999 PEACHTREE STREET | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
999 PEACHTREE STREET | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
1180 PEACHTREE STREET
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Encumbrances	$ 195,879
Initial Cost, Land	56,932
Initial Cost, Buildings and Improvements	389,654
Initial Cost, Total	446,586
Costs Capitalized Subsequent to Acquisition	3,129
Gross Amount at Which Carried, Land	56,932
Gross Amount at Which Carried, Buildings and Improvements	392,783
Gross Amount at Which Carried, Total	449,715
Accumulated Depreciation and Amortization	24,047
Real Estate:
Balance at the end of the year	449,715
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 24,047
1180 PEACHTREE STREET | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	0 years
1180 PEACHTREE STREET | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation and Amortization is Computed	40 years
UNDEVELOPED LAND PARCELS
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percentage	100%
Initial Cost, Land	$ 48,667
Initial Cost, Buildings and Improvements	0
Initial Cost, Total	48,667
Costs Capitalized Subsequent to Acquisition	3,697
Gross Amount at Which Carried, Land	45,782
Gross Amount at Which Carried, Buildings and Improvements	6,582
Gross Amount at Which Carried, Total	52,364
Accumulated Depreciation and Amortization	183
Real Estate:
Balance at the end of the year	52,364
Accumulated Depreciation and Amortization:
Balance at the end of the year	$ 183