Highwoods sells retail centers for $62.1M - Triangle Business Journal:

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for $62.1 million, the Raleigh-based real estate investmeny trustsaid Friday. The three centers are, on 94.5 percent leased and 55 years old. They generate a combinecd net operating incomeof $5.4 milliom a year, Highwoods HIW) said. “Our focus remains on continuing to improve the overall quality of our portfolioo through the dispositionof older, non-cors assets,” said Ed Fritsch, president and chief executivde officer of Highwoods. “In addition, by sellingb these older, capital intensive retail we are avoidingover $3 million in building improvement s that would have been incurred over the next two Our 2.
3 million square feet of officde and retail properties in Kansas City are now exclusivelyg located in and around the Countrt Club Plaza, a unique, upscalw retail center that includes many high-end national As of March 31, Highwoods owned or had an interestr in 382 in-service office, industrial and retaio properties encompassing about 35.4 millionb square feet.