Highwoods Properties Inc. (HIW) sketched a long-term lease deal with myMatrixx for 48,000 square foot of space at LakePointe Two in Tampa. A new customer for Highwoods, myMatrixx is a full-service pharmacy benefit management and ancillary services firm that focuses on workers' compensation.
As a matter of fact, after making concerted efforts to re-position Tampa Bay Park into an urban collaborative environment, Highwoods have been reletting the space. Specifically, with this above mentioned lease deal, the company has now achieved 90% of space reletting in LakePointe One and Two, vacated in May 2013. This reflects a solid demand for the company’s properties in this area.
Highwoods has been focusing on shifting its portfolio mix to high-growth markets and offloading its asset base in non-core markets. Also, the company is aiming at strengthening the leasing business and enhancing its tenant base.
As part of such efforts, Highwoods recently acquired One Bank of America Plaza office building in CBD Raleigh and sold 14 non-core buildings (read: Highwoods Buys Raleigh Asset, Sells Non Core). Also, the company inked a build-to-suit lease deal with Laser Spine Institute for constructing a property in Tampa (read: Highwoods Inks Build-to-Suit Deal in Tampa).
To gain a deeper insight into Highwoods, you can refer to our updated research report, which was issued on Sep 23, 2014.
To know more about other REIT stocks like Public Storage (PSA), Liberty Property Trust (LPT) and UDR, Inc. (UDR), you can refer to their research reports issued on Sep 30, 2014.
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