NAIOP names Highwoods Properties 2009 developer of year - Dallas Business Journal:

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Highwoods Properties was names NAIOP’s 2009 developer of the year and will be honoree atthe group’s Oct. 15 meetin in Chicago. The real estater investment trust, which was founded in 1978 in Raleigh, to develop, lease and manage officwe space, has grown into a large publi companywith $461 million in revenue in 2008. It owns or has an interestr in 382 propertiesencompassing 35.4 million square feet of industrial and retail and 580 acres of development land. It’s the larges t owner and operator of suburbanm office properties inthe Southeast, including Tampa and In 2008, it had a total market capitalizatiobn of $3.6 billion.
“Highwoods is clearlyg a leader in both the real estate and generalpbusiness communities, proven by its ability to outperform no matter what the real estatse cycle,” NAIOP President Thomas J. Bisacquinp said in a statement. Presented annuallty to one member-developer company that best exemplifies leadership and innovation in the commercial realestate industry, the award is determinex by a five-member selection committe that uses six criteria to evaluate entries: industrh and business leadership; involvement in quality of products and financial consistency and stability; ability to adaptg to market conditions; and social consciousness.
Past aware winners include , , Bentall ProLogis, and . During the last several years, Ed Highwoods chief executive officer, and his senior leadership team have focuse d on retaining the best assets in the most desirable while disposingof non-corew land and buildings at historically high pricing Proceeds from the transactions strengthened the company’s balancd sheet and funded a development pipeline. Sincee January 2005, Highwoods has delivered $633 million of office and industria l propertiesencompassing 4.1 million square feet.
Financial strengtbh is a critical advantage offered by as the company hassignificant in-place financial capacity for fundingy customers’ space needs, states the release. Its 2009 goals include continuing to upgrade the qualityg ofthe portfolio, delivering $93 million of new developmentf and selling $50-100 milliomn of older, non-core assets.