SOURCE: Highwoods Properties

Highwoods Properties

June 04, 2013 16:15 ET

Highwoods Properties Signs 35,000 Square Foot Lease at 2800 Century Center in Atlanta

RALEIGH, NC--(Marketwired - Jun 4, 2013) - Highwoods Properties, Inc. (NYSE: HIW) has signed a 35,000 square foot long-term lease at 2800 Century Center in Atlanta. The customer is a 147-year old publicly traded, high-credit global company. 2800 Century Center is now 65% leased with letters of intent outstanding for an additional 67,000 square feet which, if signed, would bring leasing at 2800 Century Center to 96%. There are also strong prospects from a number of companies for an additional 64,000 square feet. 

Ed Fritsch, President and CEO of Highwoods, stated, "In less than a year, our Atlanta team has done an excellent job towards re-leasing 2800 Century Center. It is now 65% leased and the continued strong interest underscores the attractiveness of our Century Center office park where we own 1.7 million square feet. We remain comfortable with our forecast of 2800 Century Center being at least 92% leased by year-end."

About Highwoods Properties
Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE: HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 Index. The Company is a fully integrated, self-administered REIT that provides leasing, management, development, construction and other customer-related services for its properties and for third parties. At March 31, 2013, Highwoods owned or had an interest in 334 in-service office, industrial and retail properties encompassing approximately 35.0 million square feet and owned 649 acres of development land. The Company's properties and development land are located in Florida, Georgia, Missouri, North Carolina, Pennsylvania, South Carolina, Tennessee and Virginia. For more information about Highwoods Properties, please visit our website at www.highwoods.com.

Certain matters discussed in this press release, such as expected leasing activity and the related assumptions underlying our expected results, are forward-looking statements within the meaning of the federal securities laws. These statements are distinguished by use of the words "will", "expect", "intend" and words of similar meaning. Although Highwoods believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

Factors that could cause actual results to differ materially from Highwoods' current expectations include, among others, the following: the financial condition of our customers could deteriorate; development activity by our competitors in our existing markets could result in excessive supply of properties relative to customer demand; development, acquisition, reinvestment, disposition or joint venture projects may not be completed as quickly or on as favorable terms as anticipated; we may not be able to lease or re-lease second generation space quickly or on as favorable terms as old leases; our markets may suffer declines in economic growth; we may not be able to lease our newly constructed buildings as quickly or on as favorable terms as originally anticipated; unanticipated increases in interest rates could increase our debt service costs; unanticipated increases in operating expenses could negatively impact our NOI; we may not be able to meet our liquidity requirements or obtain capital on favorable terms to fund our working capital needs and growth initiatives or to repay or refinance outstanding debt upon maturity; the Company could lose key executive officers; and others detailed in the Company's 2012 Annual Report on Form 10-K and subsequent SEC reports.