Friday, January 18, 2008

Highwoods Properties Renews 221,000 Square Foot Lease at Century Center in Atlanta

RALEIGH, N.C.--(BUSINESS WIRE)--Highwoods Properties, Inc. (NYSE: HIW), the largest owner and operator of suburban office properties in the Southeast, today announced that it has renewed a lease for 221,000 square feet at 2800 Century Center in Atlanta. This lease was set to expire in January 2009 and has been extended through July 2014.

Ed Fritsch, President and CEO of Highwoods stated, “We are pleased to put our largest 2009 lease expiration to bed. Congratulations to our leasing team in Atlanta for their hard work in securing this renewal.”

The Company also announced that it has signed a 25,000 square foot lease at Highwoods Bay Center I in Tampa. This 208,000 square foot, $42 million, Class A office building started as a 100% speculative project in May 2006, and is now 78% pre-leased. Highwoods Bay Center I is slated to reach stabilization by year-end 2008.

“Our Highwoods Bay Center development continues to attract high-quality customers. Highwoods Bay Center is ideally located in the highly desirable Westshore submarket, which was 92% occupied at the end of the third quarter, and continues to demand the highest rents in the overall Tampa market. Including this lease, our $500 million development pipeline is currently 77% pre-leased,” added Mr. Fritsch.

In 2007, the Company delivered $200 million of new development that was 88% pre-leased.

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