Highwoods Properties reports strong leasing activity and demand recovery in Sun Belt markets

From Nasdaq: 2024-09-10 09:59:00

Highwoods Properties has signed 738,000 square feet of second-generation leases, including new leases exceeding 400,000 square feet. A long-term lease for 104,000 square feet at Two Alliance Center in Atlanta’s Buckhead BBDs will start in 2026, filling vacated space from a previous customer.

The company has seen a recovery in demand, signing more new deals in 2024 than in all of 2023. Highwoods’ portfolio in Sun Belt markets with strong demographic trends supports long-term growth. Shares of this Zacks Rank #3 company have increased 25.1% over the past three months.

Highwoods leased 909,000 square feet of office space in Q2 2024, including 352,000 square feet of new leases and 61,000 square feet of first-generation leases. The company is focused on developing high-growth markets and has a $505.6 million development pipeline as of June 2024, which is 45% pre-leased.

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Read more at Nasdaq: Highwoods Sees Demand Recovery, Reports Strong Leasing Activity