### Highwoods Properties Acquires Advance Auto Parts Tower
Highwoods Properties, a publicly traded real estate investment trust (REIT), has acquired the 20-story Advance Auto Parts Tower from Lionstone Investments. The building was originally developed by Lionstone Investments in partnership with Kane Realty Corp.
According to CommercialEdge, Highwoods plans to finance the acquisition using proceeds from the recent $145 million sale of three office buildings in Tampa, Florida.
The 346,000-square-foot tower, which was completed in 2020, includes 11 floors of office space above eight levels of parking, along with approximately 8,200 square feet of retail space. By the end of 2024, the property was fully leased, with a weighted average lease term of 8.2 years.
Located at 4200 Six Forks Road, also known as 4000 Front at North Hills Street, the building is adjacent to CAPTRUST Tower—a 300,000-square-foot Class A+ office property also owned by Highwoods.
As of late 2024, Highwoods’ portfolio spanned 27.2 million square feet across multiple U.S. markets, with an additional 1.6 million square feet in its development pipeline.
