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Highwoods sells Memphis, Tenn., property for $76.4M

Highwoods Properties Inc. sold the International Paper IV building in Memphis, Tenn., for $76.4 million.

The company also expects to close the sale of the Atrium I & II buildings in Memphis before the end of the year for $13.2 million, subject to customary closing conditions.

The three office buildings have a combined occupancy rate of 96%.

The sales are part of Highwoods' plans to exit the Greensboro and Memphis markets.