Highwoods Properties to Sell Two Office Towers in Raleigh for $65.3M

by Camren Skelton

RALEIGH, N.C. — Highwoods Properties Inc. is selling two office towers in Raleigh for a combined $65.3 million. Highwoods Tower One, a 187,000-square-foot office tower in Raleigh, sold for $34.3 million. The Triangle Business Journal reports BB&T, a tenant, acquired the asset. BB&T also acquired an adjacent, two-acre land parcel as part of the acquisition. The 26-year-old building was 85.5 percent leased as of Sept. 30. In addition, Highwoods Properties is selling Highwoods Tower Two for $31 million. The transaction, which is scheduled to close in the second quarter of 2018, will include another adjacent, two-acre land parcel. The 168,000-square-foot building is 15 years old and was 90.8 percent leased as of Sept. 30.

You may also like