Highwoods Properties’ New Acquisition: Advance Auto Parts Tower in Raleigh’s North Hills
Raleigh, North Carolina, March 18, 2025 – Highwoods Properties, Inc. (NYSE:HIW), a leading owner, developer, and manager of office and industrial real estate in the United States, has recently announced the successful completion of the acquisition of Advance Auto Parts Tower. This significant investment totals $138 million and is located in the thriving mixed-use North Hills Business District in the heart of Raleigh, North Carolina.
A Strategic Location
North Hills is an area known for its dynamic mix of residential, office, retail, and entertainment spaces. The Advance Auto Parts Tower, a 12-story, Class A office building, is situated in this prime location, offering easy access to major highways, public transportation, and a diverse workforce. The building is also within walking distance of numerous restaurants, shops, and cultural attractions, making it an attractive location for both employers and employees.
A Boost for the Local Economy
The acquisition of Advance Auto Parts Tower by Highwoods Properties is a testament to the ongoing growth and vitality of Raleigh’s business scene. This investment not only strengthens Highwoods’ presence in the region but also contributes to the economic development of the city. The influx of capital and the addition of high-quality office space will help attract new businesses and retain existing ones, creating jobs and opportunities for the local community.
Impact on the Workforce
For employees, the acquisition of Advance Auto Parts Tower brings several benefits. The modern office space, combined with the building’s prime location, offers a convenient and desirable work environment. Additionally, the area’s robust mix of amenities, including restaurants, shops, and entertainment venues, provides ample opportunities for employees to relax and unwind during their lunch breaks or after work hours.
A Positive Global Outlook
Beyond the local impact, Highwoods Properties’ acquisition of Advance Auto Parts Tower is a positive sign for the global real estate market. The demand for high-quality office space, particularly in thriving business districts, remains strong, as companies continue to seek out locations that offer their employees a desirable work environment and easy access to amenities. This trend is expected to continue, making investments in prime office properties an attractive proposition for real estate investors.
The Future of Highwoods Properties and North Hills
With the successful acquisition of Advance Auto Parts Tower, Highwoods Properties strengthens its position as a leading player in the office and industrial real estate sector. The company’s commitment to investing in prime properties in dynamic business districts, like North Hills in Raleigh, is a clear indication of its confidence in the future growth of the real estate market. As the economy continues to recover and businesses seek out high-quality workspaces, Highwoods Properties is well-positioned to capitalize on the opportunities that lie ahead.
Conclusion
The acquisition of Advance Auto Parts Tower by Highwoods Properties is a significant investment in the heart of Raleigh’s thriving North Hills Business District. This investment not only strengthens Highwoods’ presence in the region but also contributes to the economic development of the city. The addition of high-quality office space in a prime location, along with the area’s diverse mix of amenities, makes this acquisition a win-win for both Highwoods Properties and the local community. As the real estate market continues to evolve, investments in prime properties in dynamic business districts, like North Hills, remain an attractive proposition for real estate investors.
- Highwoods Properties acquires Advance Auto Parts Tower in Raleigh’s North Hills for $138 million
- Strategically located in a thriving mixed-use business district
- Contributes to the economic development of Raleigh and creates jobs
- Provides a desirable work environment for employees
- Positive sign for the global real estate market
- Highwoods Properties is well-positioned to capitalize on future opportunities
