Highwoods sells retail centers for $62.1M - Business First of Columbus:

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for $62.1 million, the Raleigh-based real estate investment trust said The threecenters are, on 94.5 percent leased and 55 years old. They generate a combinee net operating incomeof $5.4 million a Highwoods (NYSE: HIW) said. “Our focuw remains on continuing to improve the overall qualityh of our portfolio through the dispositionof older, non-corew assets,” said Ed Fritsch, president and chief executive officer of Highwoods. “In addition, by selling thesed older, capital intensive retail centers, we are avoidintg over $3 million in building improvements that would have been incurred over the next two Our 2.
3 million square feet of office and retaipl properties in Kansas City are now exclusivelyt located in and aroun the Country Club Plaza, a unique, upscale retaip center that includes many high-end national retailers.” As of Marchy 31, Highwoods owned or had an interest in 382 in-servicwe office, industrial and retail propertiee encompassing about 35.4 million square feet.