Highwoods Properties, Inc. (HIW), a real estate investment trust (REIT), has recently renewed its lease agreement for 59,000 square feet of space at 370 Knollwood in Winston-Salem, North Carolina, with Krispy Kreme Doughnuts (KKD), an international retailer of premium-quality sweet treats.
With the deal, Highwoods has extended its long-term relationship with Krispy Kreme. Established in 1937, Krispy Kreme offers premium-quality doughnuts and great-tasting coffee across 560 locations around the world. Over the years, Krispy Kreme has transcended all demographic barriers and created a special bond with its customers through its unique taste, quality and simplicity of its products.
Highwoods has interests in office, industrial, retail, and service center properties, including development projects and apartment units. It also provides customer-related and fee-based real estate management services for its properties and for third-party clients.
As of Dec 31, 2009, Highwoods had interests in 377 in-service office, industrial holdings and retail properties, with 35.5 million square feet of gross leaseable space. In addition, it also owned 581 acres of developable land.
Currently, Highwoods is in the process of repositioning its portfolio to focus on stronger long-term markets and newer assets. A large part of the company’s portfolio is now concentrated in high-growth Sun Belt markets, such as Atlanta, Nashville, and Tampa, which due to long-term demographic trends, should exhibit above-average job growth.
Read the full analyst report on “HIW”
Read the full analyst report on “KKD”
Zacks Investment Research
