Highwoods Sells Non-Core Asset in Tampa for $43.0M
RALEIGH, N.C., June 23, 2021 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has sold Preserve VII, a 115,000 square foot single customer building in north Tampa, for $43.0 million. This property is 100% occupied and is projected to generate $2.0 million of annual cash net operating income, including the impact of $0.4 million of free rent, and $2.4 million of annual GAAP net operating income in 2021.
Highwoods Sells Non-Core Asset in Tampa for $43.0M
RALEIGH, N.C., June 23, 2021 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has sold Preserve VII, a 115,000 square foot single customer building in north Tampa, for $43.0 million. This property is 100% occupied and is projected to generate $2.0 million of annual cash net operating income, including the impact of $0.4 million of free rent, and $2.4 million of annual GAAP net operating income in 2021.