Large Tampa office landlord sells building for $43 million

Highwoods Properties Inc.’s sale of Preserve VII is the first in a series of dispositions planned by the Raleigh, North Carolina-based company.

By Observer Staff
| 11:10 a.m. June 25, 2021
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COURTESY PHOTO â€” Highwoods Properties Inc. sold Preserve VII in Tampa for $43 million to help fund a planned acquisition later this year.

Commercial Real Estate

Highwoods Properties Inc., one of the largest office owners in the Tampa Bay area, has sold a 115,230-square-foot building within its Highwoods Preserve campus for $43 million.

The sale of Preserve VII marks the first in what is expected to be a series of dispositions by the Raleigh, North Carolina-based real estate investment trust to finance a planned $769 million office acquisition later this year from Preferred Apartment Communities Inc.