Highwoods Properties announced today that it has signed a long-term lease with Duke Medicine to occupy all of the company's 60,000 square foot Riverbirch building in Durham.
Highwoods will spend $12.7 million converting the 23-year-old office building into a medical office building, including adding a gurney-sized elevator, covered patient drop-off and a parking deck.
The redevelopment is to be completed by the end of the year.
For Highwoods, the deal is yet another sign of the real estate investment trust flexing its financial muscle.

U.S. Surgeon General Regina Benjami was in town to speak during the 9th annual Durham Health Summit.