Highwood Properties to Sell Non-Core Assets for $14.6M in Cash
Highwoods Properties, Inc. (NYSE: HIW) today announced that it has sold Metrowest Commerce Center and Cambridge in Orlando for $14.6 million in cash. These two office properties encompass 134,000 square feet, are 100% leased to a single customer and are expected to generate $1.3 million of cash net operating income in 2013. Highwoods will continue to serve as property manager of these assets in exchange for customary fees.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.