The deal keeps US Airways at 799 Hanes Mall Blvd. for the next seven years, starting in January 2008. Its previous lease was slated to expire at the end of the year; the airline has leased space at the building since 1988, according to a statement from Highwood executives. Tabitha Zane, vice president of investor relations, declined to reveal to GlobeSt.com the lease rate.
Approximately 650 US Airways employees work in the building. The airline has said it intends to renovate the workspace. "We're delighted to renew this lease and are looking forward to improving this facility for our employees," Brad Beakley, US Airlines vice president, reservations and inventory services, says in a statement.
Ed Fritsch, president and CEO of Highwoods, adds that US Airways lease was "one of the largest we were facing in 2008."
Highwoods Properties portfolio contains 392 properties, spanning the office, retail and industrial markets. Its holdings total approximately 34.2 million sf, as of Dec. 31. The Raleigh-based company also owns 718 acres of development land.
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