SOURCE: Highwoods Properties
RALEIGH, NC--(Marketwire - Jun 11, 2012) - Highwoods Properties, Inc. (NYSE: HIW) today announced the appointment of Andy Wisniewski as vice president and Pittsburgh division head. Wisniewski joins Highwoods from CBRE's Pittsburgh Landlord Agency Group where he has worked for 24 years, the last 14 years as executive vice president. Wisniewski's first day at Highwoods will be July 9, 2012.
Ed Fritsch, President and CEO, stated, "We met Andy when we were conducting our market reconnaissance on Pittsburgh. We were so impressed with him and his in-depth working knowledge of the market that we asked CBRE, with Andy as the lead, if they would assume the exclusive leasing of PPG Place if we were to bid and ultimately succeed in purchasing the complex. Throughout the past nine months, Andy has continued to impress us with his integrity, strong work ethic and 'roll-up the sleeves' approach to leasing. To underscore his ability, occupancy on PPG's 1.54 million square feet has grown from 81.2% to 83.3%, and we are confident it will be over 86% by year-end. Andy is a great fit for Highwoods and we are thrilled to have attracted such a skilled veteran to head our Pittsburgh division."
During Wisniewski's 24 years in the Pittsburgh market, he has managed over 11 million square feet of agency assignments consisting of more than 50 properties. This has resulted in the execution of over five million square feet of leases and investment sales with a value in excess of one billion dollars. A licensed real estate broker and a Certified Commercial Investment Member of the Commercial Real Estate Institute (CCIM), Wisniewski holds a Bachelor of Science Degree with a major in Architecture from the University of Michigan and a Master of Business Administration Degree from The Pennsylvania State University.
The Company noted that CBRE will continue to serve as the leasing representative for PPG Place.
About Highwoods Properties
Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE: HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 Index. The Company is a fully integrated, self-administered REIT that provides leasing, management, development, construction and other customer-related services for its properties and for third parties. At March 31, 2012, Highwoods owned or had an interest in 338 in-service office, industrial and retail properties encompassing approximately 34.5 million square feet and owned 586 acres of development land. The Company's properties and development land are located in Florida, Georgia, Mississippi, Missouri, North Carolina, Pennsylvania, South Carolina, Tennessee and Virginia. For more information about Highwoods Properties, please visit our website at www.highwoods.com.
Certain matters discussed in this press release, such as expected 2012 financial and operational results and the related assumptions underlying our expected results are forward-looking statements within the meaning of the federal securities laws. These statements are distinguished by use of the words "will", "expect", "intend" and words of similar meaning. Although Highwoods believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Factors that could cause actual results to differ materially from Highwoods' current expectations include, among others, the following: the financial condition of our customers could deteriorate; development activity by our competitors in our existing markets could result in excessive supply of properties relative to customer demand; development, acquisition, reinvestment, disposition or joint venture projects may not be completed as quickly or on as favorable terms as anticipated; we may not be able to lease or re-lease second generation space quickly or on as favorable terms as old leases; our markets may suffer declines in economic growth; we may not be able to lease our newly constructed buildings as quickly or on as favorable terms as originally anticipated; unanticipated increases in interest rates could increase our debt service costs; unanticipated increases in operating expenses could negatively impact our NOI; we may not be able to meet our liquidity requirements or obtain capital on favorable terms to fund our working capital needs and growth initiatives or to repay or refinance outstanding debt upon maturity; the Company could lose key executive officers; and others detailed in the Company's 2011 Annual Report on Form 10-K and subsequent SEC reports.