Construction of the planned project, which is subject to execution of a definitive lease with Asurion, is proposed to begin in the first quarter of 2019 with a third quarter 2021 targeted completion date.Ed Fritsch, President and Chief Executive Officer of Highwoods Properties, said, " This signature project, being designed by the very talented team at Hastings Architecture Associates, is intended to reflect Asurion's vision and forward thinking culture, fostering collaboration and bringing many of its team members under one roof. We're excited to work with Asurion on the visioning of this important project." " We have been looking across the Nashville area for the right spot that would allow us to bring our teams together in one location to further encourage collaboration, rich dialogue and diverse perspectives, which are at the heart of Asurion's entrepreneurial spirit," said Asurion Chief Executive Officer Tony Detter. " Asurion has been part of Nashville's vibrant growth for almost two decades and our consolidation into a facility in the heart of Nashville, further cements our commitment to this great city for the foreseeable future." About AsurionAsurion helps more than 300 million people around the world unlock their technology's untapped potential. We create innovative technology solutions that help keep consumers connected, from comprehensive protection to smart tech help that redefines expertise. Partnering with leading wireless carriers, retailers and pay-tv providers, Asurion's 16,000 employees deliver a seamless, award-winning customer experience, anticipating their needs and providing tailored services reachable within one touch. About Highwoods Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa. For more information about Highwoods, please visit our website at www.highwoods.com. Disclosure Regarding Forward-Looking StatementsCertain matters discussed in this press release are forward-looking statements within the meaning of the federal securities laws, such as the planned development of the two buildings described above and anticipated total investment, projected leasing activity and expected timing and impact of the buildings to be developed. These statements are distinguished by use of the words "will," "plan," "anticipate," "expect," "intend" and words of similar meaning. Although Highwoods believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Factors that could cause actual results to differ materially from Highwoods current expectations include, among others, the following: because development of the two buildings described above is subject to execution of a definitive lease with Asurion, the development may not occur on the terms described in this press release or at all; development activity by competitors in existing markets could result in excessive supply of properties relative to customer demand; development, acquisition, reinvestment, disposition or joint venture projects may not be completed as quickly or on as favorable terms as anticipated; Highwoods may not be able to lease or re-lease second generation space quickly or on as favorable terms as old leases; Highwoods markets may suffer declines in economic growth; Highwoods may not be able to lease newly constructed buildings as quickly or on as favorable terms as originally anticipated; unanticipated increases in interest rates could increase debt service costs; unanticipated increases in operating expenses could negatively impact Highwoods net operating income; Highwoods may not be able to meet its liquidity requirements or obtain capital on favorable terms to fund its working capital needs and growth initiatives or to repay or refinance outstanding debt upon maturity; Highwoods could lose key executive officers; and others detailed in Highwoods 2017 Annual Report on Form 10-K and subsequent SEC reports.
Contact: Brendan Maiorana Senior Vice President, Finance and Investor RelationsHighwoods Properties 919-431-1529