ATLANTA-Highwoods Properties Inc. has announced the sale of three office buildings totaling 553,000 square feet for a price of $86.5 million. Two of the buildings are situated in Atlanta and the third property is located in Jackson, Mississippi. The company did not reveal the name of the buyer. A non-funds from operations gain of $14 million will be recorded by the company.
The buildings, 100% rented to the federal government, are expected to generate annual cash net operating income of $6.1 million in 2012. For the full story, go to Triangle Business Journal .
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