Highwoods Announces $89.6M of Memphis Asset Sales

Dec 19, 2019

RALEIGH, N.C., Dec. 19, 2019 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW, Financial) has sold International Paper IV, a 248,000 square foot, single customer building, for $76.4 million and expects to close on the sale of Atrium I and II, a two-building office complex encompassing 84,000 square feet, prior to December 31, 2019 for $13.2 million. These office properties, located in Memphis, are a combined 96% occupied and are projected to generate $5.9 million of annual cash and GAAP net operating income in 2020.

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