US Govt Signs 350,000 SF Build-to-Suit

BUSINESS WIRE - Aug. 27, 2003 - RALEIGH, NC

Highwoods Properties, Inc. (NYSE: HIW - News), the largest owner and operator of suburban office properties in the Southeast, today announced that it has been awarded a 350,000 square foot build-to-suit contract by the National Archives and Records Administration (NARA), an independent agency of the United States Government. Under the terms of the contract, Highwoods will build a records storage facility on a site at SouthPark in Clayton County, Georgia, which will be 100% occupied by NARA under a 20-year lease.

The new facility will have seven bays for a maximum capacity of 1.75 million cubic feet for the storage of textual records and 35,000 square feet dedicated to training and conference rooms, an expansive public research room and office space to accommodate NARA staff members and contractors, as well as visitors and patrons. Two of the seven storage bays and the office area are scheduled to be completed and ready for occupancy by July 2004, with the remaining five storage bays being delivered one bay per quarter through October 2005. Ernst and Young represented NARA in the bidding process. " Sphere: Related Content