Highwoods Harvesting Industrial
It's out with the old and in with the new for Highwoods Properties. In this case, old being industrial and new being office. The firm's CEO Ed Fritsch told investors recently that the company expects to exit the industrial game in Atlanta "in sync with ourgoal of concentrating our resources in Atlanta on high-quality office assets. To that end, Highwoods sold 862k SF in 11 industrial buildings for $43.3M. And high-quality office it obtained when it snagged Two Alliance Center (above) last year for $150M-plus.
Should "patting our head and rubbing our belly at the same time" be considered a professional accomplishment? Send your news toJarred@Bisnow.com.