Highwoods Properties, Inc. (NYSE: HIW), the largest owner and
operator of suburban office properties in the Southeast, today announced
that the Federal Aviation Administration (FAA) is doubling the size of
the build-to-suit project it awarded to Highwoods in June 2007 from
50,000 to 100,000 square feet. The project is located at
Highwoods-dominated Tradeport, an office and industrial park adjacent to
the Hartsfield-Jackson Atlanta International Airport, and is being built
on land already owned by the Company. Construction has commenced and is
expected to be completed in the first quarter of 2009.
Ed Fritsch, president and chief executive officer, commented, “We
are pleased the FAA is expanding the size of this project and
congratulate our Atlanta team for their hard work in establishing and
enhancing our relationship with this important customer. Tradeport is a
strategic infill-location in Atlanta that is becoming increasingly
important as traffic at one of America’s
busiest airports continues to grow. We currently own 622,000
square feet at Tradeport, including three office and five industrial
buildings."
Over the past five years, the Company has been awarded approximately
$160 million of build-to-suit development projects by various agencies
of the federal government, all of which were 100% pre-leased.
About the Company
Highwoods Properties, Inc., a member of the S&P MidCap 400 Index, is a
fully integrated, self-administered real estate investment trust (“REIT”)
that provides leasing, management, development, construction and other
customer-related services for its properties and for third parties. At
December 31, 2007, the Company owned or had an interest in 378
in-service office, industrial and retail properties encompassing
approximately 33.9 million square feet. Highwoods also owns 634 acres of
development land. Highwoods is based in Raleigh, North Carolina, and its
properties and development land are located in Florida, Georgia, Iowa,
Kansas, Mississippi, Missouri, North Carolina, South Carolina, Tennessee
and Virginia. For more information about Highwoods Properties, please
visit our Web site at www.highwoods.com.
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