Highwoods Properties announced this week that it has signed a build-to-suit lease in Tampa and has also begun development of an office building in Nashville.
The Raleigh-based real estate investment trust will build a 203,000-square-foot building in Nashville’s Brentwood market after leasing 154,000 square feet to the insurer American International Group.
Construction is set to begin in the fourth quarter with the completion expected by the third quarter of 2016. Highwoods is investing $59 million in the project.
The company has also signed a deal to build a 176,000-square-foot building in Tampa for Laser Spine Institute. The institute will occupy the entire building, which is being built in Highwoods’ Avion Park development.
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Highwoods plans to invest $56 million in the project, which is set to being construction this fall and be completed by the first quarter of 2016.
Highwoods also announced this week that it has completed its exit from the Greenville, S.C. market by selling a 210,000-square-foot office building for $27.2 million. The company sold eight Greenville buildings in December.