Piedmont REIT Pays $176M To Pick Up DC-Area Office

Law360, New York (March 5, 2013, 2:30 PM EST) -- Piedmont Office Realty Trust Inc. has scooped up a Washington, D.C.-area office property from Arlington Gateway Investors LLC for $175.6 million, continuing its expansion in the area, according to a Monday statement.

With the deal, which values the 12-story property at $526 per square foot, Piedmont is adding to its portfolio a trophy property in Arlington, Va., anchored by business consultant Towers Watson & Co. and the law firm Nixon & Vanderhye PC, the real estate investment trust said. The seller is a unit of Dweck...
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