Business News
Highwoods Gets Pepsi Tenant
TSC and IRIS Staff
08/25/06 - 11:56 AM EDT
Highwoods Properties(HIW) announced Friday that it signed a long-term, 28,000 square foot lease with Pepsi Bottling Ventures at GlenLake Four office in Raleigh, N.C.
Pepsi Bottling Ventures made a long-term commitment to relocate their corporate office to GlenLake Four. GlenLake Four has commitments for 70 percent of the available space.
Construction of the $27.2 million, 158,000 square foot Class "A" office building will be completed next month.
The company's development pipeline is $361 million and is 51% pre-leased.
The company's shares were trading at $37.15, down 13 cents, Friday.