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

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for $62.1 million, the Raleigh-based real estatre investment trustsaid Friday. The three centers are, on average, 94.5 perceny leased and 55 years old. They generate a combined net operating incomeof $5.4 million a year, Highwoods HIW) said. “Our focus remaines on continuing to improve the overall qualityg of our portfolio througy the dispositionof older, non-core assets,” said Ed Fritsch, presiden t and chief executive officer of “In addition, by selling these older, capitakl intensive retail centers, we are avoidiny over $3 million in building improvements that would have been incurrecd over the next two years.” Our 2.
3 million square feet of office and retaikl properties in Kansas City are now exclusivelg located in and around the Country Club a unique, upscale retail centetr that includes many high-end national retailers.” As of Marcjh 31, Highwoods owned or had an interesft in 382 in-service office, industrial and retail properties encompassinb about 35.4 million square feet.