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Highwoods Properties to develop Brentwood, Tenn., office building

Highwoods Properties Inc. will develop an 111,000-square-foot office building in Brentwood, Tenn., with a total projected investment of $37.8 million, including the value of existing company-owned land.

The office real estate investment trust said Virginia Springs II is the second of two planned office buildings at its Virginia Springs site, noting that it placed in service the 113,000-square-foot, fully occupied Virginia Springs I building in the first quarter.

Groundbreaking at Virginia Springs II is slated for the third quarter, with targeted completion in the third quarter of 2020 and projected stabilization in the third quarter of 2022.