Piedmont Office Realty Trust Welcomes Deluxe Corporation to Glenridge Highlands Two

Rhea-AI Summary

Piedmont Office Realty Trust (NYSE: PDM) announced that Deluxe (NYSE: DLX) will lease 172,000 square feet at Glenridge Highlands Two in Sandy Springs, bringing approximately 700 jobs to the Atlanta area. Deluxe plans to invest over $12 million to develop its new financial technology innovation center. The project underscores the growth potential in Atlanta's corporate landscape, emphasizing the strategic advantages of Glenridge Highlands, which offers significant visibility and access to major highways. The complex features 424,000 square feet of office space and is set for further development.

Positive

• Deluxe's move to Glenridge Highlands Two will create approximately 700 new jobs in the Atlanta metro area.
• Deluxe plans to invest over $12 million in the space, showcasing confidence in growth within the FinTech and Payment sectors.
• The Glenridge Highlands complex has significant strategic advantages with direct access to major transportation routes.

Negative

• None.

Atlanta, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM) announced today that Deluxe (NYSE: DLX) will occupy 172,000 square feet at its Class-A office complex in Glenridge Highlands Two in Sandy Springs. Deluxe, a Trusted Business Technology™ company will bring approximately 700 jobs to metro Atlanta, with plans to expand the tech hub in the near future.

“As Deluxe establishes its presence in Georgia, their new innovation center will provide employees unbeatable access to major residential, retail and employment nodes, at the nexus of GA-400 and I-285,” said Brent Smith, CEO of Piedmont. “The Central Perimeter continues to serve as a powerful corporate hub in the Southeast and Deluxe’s selection of Glenridge Highlands Two is a major win for us, further highlighting Atlanta’s robust growth story and the caliber of Piedmont’s portfolio.”

Deluxe will bring its financial technology innovation and customer experience centers to Glenridge Highlands Two and is planning to invest upwards of $12 million to construct, build out, and furnish the space.

“Our transformation as a company has really taken root with this announcement as we look to accelerate our growth in the FinTech and Payment space,” said Barry McCarthy, President and CEO of Deluxe. “Atlanta is known as a leader in Financial Technology and this is an incredible space for our growth as a company.”

Glenridge Highlands Two features approximately 424,000 square feet of space with efficient 25,000-square-foot flexible floor plates. The 20-story Class-A building is part of a 12-acre office campus, with unique visibility from and direct access to GA-400 and I-285. In addition to Glenridge Highlands Two, the Piedmont-owned complex also includes the 11-story Glenridge Highlands One, where new tenant amenities and lobby renovations are nearing completion.  The next phase of development at the integrated office and technology hub is in planning, including a new office tower totaling 250,000 square feet at Glenridge Highlands Three.

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About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt. Its geographically diversified, approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. The company is a fully integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets. At the end of the second quarter, approximately 63% of the company’s portfolio was ENERGY STAR certified and approximately 41% was LEED certified.