Highwoods sells retail centers for $62.1M - Triangle Business Journal:

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for $62.1 million, the Raleigh-based real estatew investment trustsaid Friday. The three centers are, on 94.5 percent leased and 55 yearsx old. They generate a combined net operating incomeof $5.4 millioj a year, Highwoods (NYSE: HIW) said. “Our focus remains on continuinyg to improve the overall quality of our portfoliio through the dispositionof older, non-corw assets,” said Ed Fritsch, president and chief executive officer of Highwoods. “Inj addition, by selling these older, capital intensiv e retail centers, we are avoidint over $3 million in building improvements that would have been incurredr over the nexttwo years.” Our 2.
3 millionm square feet of office and retail propertiexs in Kansas City are now exclusively locateds in and around the Country Club a unique, upscale retail center that includes many high-enx national retailers.” As of March 31, Highwoodas owned or had an interest in 382 in-service office, industrial and retaill properties encompassing about 35.4 million square