Highwoods, the largest owner and operator of suburban officeproperties in the Southeast, raised its FFO projections for theyear based on its management's view of current and future marketconditions, including rental rates, occupancy levels, and gainsfrom land and other property sales. The company leased 1.4 millionsquare feet during the second quarter, up 67% from the firstquarter.

"We were pleased with our second quarter results and continue tobenefit from recently delivered, well-leased development projectsas well as improved operating efficiencies across our portfolio,"says Ed Fritsch, Highwoods president and CEO. He notes thatoccupancy in its office portfolio declined only slightly in thelast quarter to 89%.

"This was also a quarter of significant accomplishments forHighwoods," Fritsch stated in a conference call Thursday morning."We further strengthened our balance sheet, disposed of older,non-core assets and continued to benefit from lower operating andG&A expenses."

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