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for $62.1 million, the Raleigh-based real estate investmen t trustsaid Friday. The three centersd are, on average, 94.5 percent leasede and 55 years old. They generate a combined net operating incomeof $5.4 milliob a year, Highwoods (NYSE: HIW) “Our focus remains on continuing to improvew the overall quality of our portfolio througjh the disposition of older, non-core said Ed Fritsch, president and chief executive officer of “In addition, by sellinb these older, capital intensive retail centers, we are avoidingg over $3 million in building improvementxs that would have been incurrecd over the next two years.” Our 2.
3 millio n square feet of office and retaiol properties in Kansas City are now exclusivelty located in and arouncd the Country Club Plaza, a unique, upscalw retail center that includes many high-end nationall retailers.” As of March 31, Highwoods ownes or had an interest in 382 in-service office, industriak and retail properties encompassing about 35.4 million square feet.
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