(HIW) Highwoods Properties Renews Lease

Highwoods Properties, Inc. (HIW), a real estate investment trust, recently renewed its lease at 2635 Century Center in Atlanta with the General Services Administration (GSA) on behalf of the Federal Bureau of Investigation (FBI). Highwoods’ property at the 2635 Century Center spans 137,000 square feet.

This new lease will be effective after the current lease expires in July 2012 and does not carry any outside brokerage fees. General Service Administration presently leases approximately 663,000 square feet at Century Center for a number of federal agencies.

Additionally, Highwoods signed a retail lease for a 22,000 square feet property with H&M at its Country Club Plaza. H&M is a global fashion brand, which operates more than 2,200 stores in 40 markets spread across four continents.  The store is expected to debut in the holiday season of 2011 and will be one of the highlights of the Plaza.

Highwoods is a leading owner and operator of suburban offices, industrial and retail properties in the Southeastern and Midwestern U.S. The company provides a complete line of real estate services to its customers and third parties through a fully-integrated organization. This provides a significant upside potential for the company.

Highwoods owns or has management interests in office, industrial, retail, and service center properties, including development projects and apartment units across the U.S.

Highwoods currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We are also maintaining our long-term Neutral recommendation on the stock. One of its competitors, Cousins Properties Inc. (CUZ), currently retains a Zacks #3 Rank.

COUSIN PROP INC (CUZ): Free Stock Analysis Report

HIGHWOODS PPTYS (HIW): Free Stock Analysis Report

Zacks Investment Research

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