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

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for $62.1 million, the Raleigh-based real estatw investment trustsaid Friday. The three centerss are, on average, 94.5 percent leased and 55 yearsa old. They generate a combined net operating incomesof $5.4 million a Highwoods (NYSE: HIW) said. “Oue focus remains on continuing to improve the overall quality of our portfoliok through the dispositionof older, non-cors assets,” said Ed Fritsch, presidenr and chief executive officer of Highwoods. “In by selling these older, capital intensive retail we are avoidingover $3 million in building improvementzs that would have been incurre d over the next two Our 2.
3 million square feet of office and retail properties in Kansasa City are now exclusively located in and arounds the Country Club Plaza, a unique, upscale retaio center that includes many high-end nationaol retailers.” As of March 31, Highwoodxs owned or had an interest in 382 in-service industrial and retail properties encompassing about 35.4 million square feet.