Highwoods Properties a publicly traded REIT, acquired Advance Auto Parts Tower, a 20-story highrise. Lionstone Investments, who developed the building in partnership with Kane Realty Corp., were the sellers.

CommercialEdge reports Highwoods plans to use proceeds from the recent $145 million sale of three office buildings in Tampa, Fla., to fund the acquisition of Advance Auto Parts Tower.

The 346,000-square-foot tower came online in 2020. It features 11 floors of office space atop eight levels of parking and roughly 8,200 square feet of retail. The property was fully leased at the end of 2024, with a weighted average lease term of 8.2 years.

With a street address of 4200 Six Forks Road or 4000 Front at North Hills Street, the building is immediately adjacent to CAPTRUST Tower, a 300,000-square-foot Class A+ office property that is also owned by Highwoods.

At the end of 2024, the REIT’s portfolio encompassed 27.2 million square feet across several U.S. markets, while its development pipeline totaled 1.6 million square feet.