X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Highwoods Properties Inc. has won a $21.7-million contract from the federal General Services Administration to erect a 91,000-sf, class A office building on Garnett Street in the city’s central business district for the Department of Homeland Security. GSA will lease the building and the parking structure component for the Homeland Security agency on a long-term lease, according to Highwoods president and CEO Ed Fritsch.

A tentative groundbreaking is set for the fourth quarter with anticipated completion in third quarter 2007. The project is the fourth build-to-suit the Raleigh, NC-based developer will be completing for the GSA in the past two years. The 2005 projects include a 350,000-sf office and storage facility for the National Archives and Records Administration in Atlanta, as GlobeSt.com previously reported; a 138,000-sf field office for the FBI in Tampa; and a 109,000-sf office building for the Centers for Disease Control in Atlanta. All three structures are 100% leased.

“These projects create excellent value for our shareholders and we are extremely proud of our in-house team who worked diligently to secure this business,” Fritsch says in a prepared statement. The newest project will bring Highwoods’ development pipeline to 2.2 million sf of which 48% is leased, Fritsch says. The 2.2 million sf represent a company investment of more than $361 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.