Highwoods Properties, Inc. (HIW), a real estate investment trust (REIT), has recently signed a leasing agreement for its 16,000 square feet of industrial space at 412 Gallimore Dairy Road in Greensboro, North Carolina. The deal was signed with Sedgefield Interior Landscapes, a premier interior landscape design, installation and service provider. The detailed terms and conditions of the deal were kept undisclosed.
At the same time, Highwoods also renewed a lease agreement with The Regus Group, the world’s largest provider of workplace solutions. The re-leased space involves 6,400 square feet at Highwoods’ Concourse Center I building at 7800 Airport Center Drive in Greensboro. The continued leasing activities signify stabilization in the real estate market and suggest gradual recovery of the macroeconomic environment.
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 Sep 30, 2009, Highwoods Properties had interests in 380 in-service office, industrial holdings and retail properties, with 35.4 million square feet of gross leaseable space. In addition, it also owns 580 acres of developable land.
Based in Raleigh, North Carolina, Highwoods Properties owns and operates its properties through its wholly owned subsidiary Highwoods Realty Limited Partnerships. 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. The core markets of the company include Florida, Georgia, Iowa, Maryland, Missouri, Mississippi, North Carolina, South Carolina, Tennessee and Virginia
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