DivestmentMay 12, 2026, 06:01 PM
Highwoods Sells Bridgestone Tower for $255M
AI Summary
Highwoods Properties, Inc. announced the sale of Bridgestone Tower, a 513,000 square foot office tower in CBD Nashville, for $255 million. The property is fully leased and is expected to generate about $17 million in annual cash and GAAP net operating income in 2026. The company anticipates recording a non-FFO gain of approximately $75 million in the second quarter of 2026 from this transaction.
Key Highlights
- Highwoods sold Bridgestone Tower, a 513,000 sq ft office tower in CBD Nashville.
- The property was sold for $255 million.
- Bridgestone Tower is 100% leased.
- The property is projected to generate approximately $17 million of annual cash and GAAP net operating income in 2026.
- Highwoods expects to record a non-FFO gain of approximately $75 million in Q2 2026.