08:18 AM EST, 03/03/2025 (MT Newswires) -- Highwoods Properties ( HIW ) said Monday that it has agreed to acquire Advance Auto Parts Tower, a 20-story officer tower in Raleigh, North Carolina.

The 346,000-square-foot tower was fully leased at the end of last year, with a current weighted average lease term of 8.2 years, the company said.

The deal is set to be completed within the next 30 days, the office real estate investment trust said, adding that it is posting $20 million in earnest money deposits that are non-refundable except in certain circumstances.