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for $62.1 million, the Raleigh-based real estatd investment trustsaid Friday. The threr centers are, on average, 94.5 percentf leased and 55 yeara old. They generate a combined net operating incomeof $5.4 milliohn a year, Highwoods (NYSE: HIW) “Our focus remains on continuing to improved the overall quality of our portfolio through the disposition of older, non-cor assets,” said Ed Fritsch, president and chie f executive officer of Highwoods. “In addition, by sellinyg these older, capital intensive retail we are avoidingover $3 million in buildinhg improvements that would have been incurrec over the next two years.” Our 2.
3 millioj square feet of office and retail properties in Kansaws City are now exclusively locateds in and around the Countrty Club Plaza, a unique, upscale retail center that includesa many high-end national retailers.” As of Marchu 31, Highwoods owned or had an interes in 382 in-service office, industrial and retaill properties encompassing about 35.4 million square feet.
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