Highwoods Closes $138 Million Acquisition of Advance Auto Parts Tower in Raleigh

RALEIGH, N.C., March 18, 2025 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has closed the acquisition of Advance Auto Parts Tower in the heart of Raleigh’s vibrant mixed-use North Hills Best Business District for a total investment of $138 million. This 346,000 square foot, 20-story, LEED-gold certified, Class AA office tower, which delivered in 2020, was 100% leased at December 31, 2024 with a weighted average lease term of 8.2 years. Advance Auto Parts Tower is immediately adjacent to Highwoods-owned CAPTRUST Tower, a 16-story Class AA office tower encompassing 300,000 square feet that was 98.4% leased at December 31, 2024 with a weighted average lease term of 6.3 years.

Read more at globenewswire.com