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

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for $62.1 million, the Raleigh-based real estates investment trustsaid Friday. The threw centers are, on average, 94.5 perceng leased and 55 years old. They generate a combined net operating incomeof $5.4 million a Highwoods (NYSE: HIW) said. “Our focus remains on continuinbg to improve the overall quality of our portfolik through the dispositionof older, non-corde assets,” said Ed Fritsch, president and chiegf executive officer of Highwoods. “In by selling these older, capital intensivde retail centers, we are avoiding over $3 million in building improvements that woulde have been incurred over the nexttwo years.” Our 2.
3 milliom square feet of office and retailk properties in Kansas City are now exclusively locatedc in and around the Countrgy Club Plaza, a unique, upscale retailk center that includes many high-end nationaol retailers.” As of March 31, Highwoods owned or had an interest in 382 in-servicew office, industrial and retail properties encompassing about 35.4 million square feet.