Exhibit 99.1

Highwoods Properties Reports Fourth Quarter

and Year End 2009 Results

$0.60 FFO per Diluted Share for Fourth Quarter 2009

(Excluding Impairments on Non-Core Depreciable Assets)

$2.61 FFO per Diluted Share for Full Year 2009

(Excluding Impairments on Non-Core Depreciable Assets and Gains on Debt Extinguishment)

88.8% Year End Occupancy

Provides 2010 FFO Guidance of $2.31 to $2.49 per Diluted Share

Raleigh, NC – February 10, 2010 – Highwoods Properties, Inc. (NYSE: HIW), the largest owner and operator of suburban office properties in the Southeast and NAIOP’s 2009 Developer of the Year, today reported unaudited financial and operational results for the fourth quarter and full year ended December 31, 2009.

Ed Fritsch, President and CEO stated, “2009 was a year of solid accomplishments. In particular, at the outset of 2009, we outlined a detailed liquidity plan designed to further enhance our financial flexibility and provide us with ample dry powder to grow our business. We are proud to have met all of our stated liquidity goals, including an upgrade by Moody’s Investors Service. These transactions further strengthened our balance sheet and today we have cash on hand, no borrowings on our new $400 million credit facility and only $138 million of debt maturing through year-end 2011.”

Highlights for the full year included:

Highwoods Properties

The Company provided 2010 Funds From Operations (FFO) guidance of $2.31 to $2.49 per diluted share reflecting the full year impact of the Company’s 2009 equity offering and other liquidity enhancing transactions completed last year. It does not include the impact of any projected dispositions or acquisitions that may occur during 2010.

“Our top priority in 2010 is leasing space. In all that we do, we will remain true to our long-term Strategic Plan as we continue to provide excellence in service to our customers, network with brokers, refine and execute on our acquisition wish lists and actively market our build-to-suit development expertise, all under the foundation of being good stewards of our shareholders’ capital,” added Mr. Fritsch.

Fourth Quarter and Full Year 2009 Financial Results

For full year 2009, net income available for common stockholders was $51.8 million, or $0.76 per diluted share, compared to net income available for common stockholders of $22.1 million, or $0.37 per diluted share, for full year 2008.

In the fourth quarter, the Company recorded a $13.5 million, non-cash impairment charge related to properties in the Triad. $6.1 million of the impairment charge related to two non-core office parks in Winston-Salem and $7.4 million related to a non-core industrial park in Greensboro. The office parks, Madison Park and Consolidated Center, consist of 11 office buildings encompassing 648,000 square feet that are, on average, 24 years old and 53% occupied. The Company noted that it previously recorded a $32.4 million impairment charge related to Madison Park and Consolidated Center in the fourth quarter of 2008. The non-core industrial park in Greensboro includes six buildings encompassing 836,500 square feet that are, on average, 25 years old and 55% occupied.

As a result of the non-cash impairment charges in the fourth quarters of 2009 and 2008, the Company reported a net loss available for common stockholders of $2.5 million, or $0.04 per diluted share, in the fourth quarter of 2009 and a net loss available for common stockholders of $15.0 million, or $0.24 per diluted share, in the fourth quarter of 2008.

Net income/(loss) for the three and twelve months ended December 31, 2009 and 2008 included the following:

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FFO for the fourth quarter of 2009 was $31.7 million, or $0.42 per diluted share, compared to $13.2 million, or $0.19 per diluted share, for the fourth quarter of 2008. For full year 2009, FFO was $175.0 million, or $2.43 per diluted share, compared to FFO of $143.5 million, or $2.26 per diluted share, for full year 2008.

FFO in 2009 and 2008 included charges related to impairments on depreciable assets and gains on debt extinguishments. Excluding these impairment charges and gains, FFO for full year 2009 and 2008 would have been $2.61 and $2.77, respectively.

Fourth Quarter and Full Year 2009 Operating Highlights

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Highwoods Properties

Funds from Operations Outlook

For 2010, the Company expects FFO per diluted share to be in the range of $2.31 to $2.49. This estimate reflects management’s view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels, operating and general and administrative expenses, interest rates, gains from land and condominium sales and development deliveries. It does not include any effects related to the timing and amount of potential acquisitions and dispositions. FFO guidance also excludes any gains or impairments associated with depreciable properties or joint venture interests, as well as unusual charges or credits that may occur during the year. FFO guidance is based on 75.6 million diluted shares outstanding in 2010. Factors that could cause actual 2010 FFO results to differ materially from Highwoods’ current expectations are discussed below and are also detailed in the Company’s 2008 Annual Report on Form 10-K and subsequent SEC reports.

Management’s outlook for 2010 is based on the following assumptions:

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Supplemental Information

A copy of the Company’s fourth quarter 2009 Supplemental Information that includes financial, leasing and operational statistics is available in the “Investor Relations/Quarterly Earnings” section of the Company’s Web site at www.highwoods.com. You may also obtain a copy of all Supplemental Information published by the Company by contacting Highwoods Investor Relations at 919-431-1529/ 800-256-2963 or by e-mail to HIW-IR@highwoods.com. If you would like to receive future Supplemental Information packages by e-mail, please contact the Investor Relations department as noted above or by written request to: Investor Relations Department, Highwoods Properties, Inc., 3100 Smoketree Court, Suite 600, Raleigh, NC 27604.

Conference Call

On Thursday, February 11, at 11:00 a.m. Eastern time, Highwoods will host a teleconference call to discuss the matters outlined in this press release. For US/Canada callers, dial (800) 920-2191. A live, listen-only Web cast can be accessed through the Company’s Web site at www.highwoods.com under the “Investor Relations” section.

A replay of the call will be available on the Investor Relations section of Highwoods Web site at www.highwoods.com.

Planned Dates for Financial Releases and Conference Calls in 2010

The Company has set the following dates and times it currently plans to release its unaudited financial results in 2010. Quarterly financial press releases will be distributed after the market close and the conference calls will begin at 11:00 a.m. Eastern time.

Non-GAAP Information

Funds from Operations (“FFO”): We believe that FFO and FFO per share are beneficial to management and investors and are important indicators of the performance of any equity REIT. Because FFO and FFO per share calculations exclude such factors as depreciation and amortization of real estate assets and gains or losses from sales of operating real estate assets, which can vary among owners of identical assets in similar conditions based on historical cost accounting and useful life estimates, they facilitate comparisons of operating performance between periods and between other REITs. Our management believes that historical cost accounting for real estate assets in accordance with GAAP implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values have historically risen or fallen with market conditions, many industry investors and analysts have considered the presentation of operating results for real estate companies that use historical cost accounting to be insufficient on a stand-alone basis. As a result, management believes that the use of FFO and FFO per share, together with the required GAAP presentations, provide a more complete understanding of our performance relative to our competitors and a more informed and appropriate basis on which to make decisions involving operating, financing and investing activities.

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FFO and FFO per share are non-GAAP financial measures and therefore do not represent net income or net income per share as defined by GAAP. Net income and net income per share as defined by GAAP are the most relevant measures in determining our operating performance because FFO and FFO per share include adjustments that investors may deem subjective, such as adding back expenses such as depreciation and amortization. Furthermore, FFO per share does not depict the amount that accrues directly to the stockholders’ benefit. Accordingly, FFO and FFO per share should never be considered as alternatives to net income or net income per share as indicators of our operating performance.

Our presentation of FFO is consistent with FFO as defined by NAREIT, which is calculated as follows:

In calculating FFO, the Company adds back net income attributable to non-controlling interests in its operating partnership, which we believe is consistent with standard industry practice for REITs that operate through an UPREIT structure. The Company believes that it is important to present FFO on an as-converted basis since all of the operating partnership units not owned by the Company are redeemable on a one-for-one basis for shares of the Company’s common stock. The Company’s FFO calculations are reconciled to net income in a table included with this release.

Net operating income from continuing operations (“NOI”): The Company defines NOI as “Rental and other revenues” from continuing operations less “Rental property and other expenses” from continuing operations. Management believes that NOI is a useful supplemental measure of the Company’s property operating performance because it provides a performance measure of the revenues and expenses directly involved in owning real estate assets, and provides a perspective not immediately apparent from net income or FFO. Other REITs may use different methodologies to calculate NOI and accordingly the Company’s NOI may not be comparable to other REITs. The Company’s NOI calculations are reconciled to “Income/(loss) before disposition of property and condominiums and equity in earnings of unconsolidated affiliates” and to “Rental and other revenues” and “Rental property and other expenses” in a table included with this release.

Same property NOI from continuing operations: The Company defines same property NOI as NOI for the Company’s in-service properties included in continuing operations that were wholly-owned during the entirety of the periods presented (from January 1, 2008 to December 31, 2009). The Company’s same property NOI calculations are reconciled to NOI in a table included with this release.

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Highwoods Properties

About the Company

Highwoods Properties, Inc., a member of the S&P MidCap 400 Index, is a fully integrated, self-administered real estate investment trust (“REIT”) that provides leasing, management, development, construction and other customer-related services for its properties and for third parties. At December 31, 2009, the Company owned or had an interest in 377 in-service office, industrial and retail properties encompassing approximately 35.5 million square feet. Highwoods also owned 581 acres of development land. Highwoods is based in Raleigh, North Carolina, and its properties and development land are located in Florida, Georgia, Iowa, Missouri, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. For more information about Highwoods Properties, please visit our Web site at www.highwoods.com.

Certain matters discussed in this press release, such as expected 2010 financial and operational results and the related assumptions underlying our expected results, are forward-looking statements within the meaning of the federal securities laws. These statements are distinguished by use of the words “will”, “expect”, “intend” and words of similar meaning. Although Highwoods believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

Factors that could cause actual results to differ materially from Highwoods’ current expectations include, among others, the following: the financial condition of our customers could deteriorate; development activity by our competitors in our existing markets could result in excessive supply of properties relative to customer demand; development, acquisition, reinvestment, disposition or joint venture projects may not be completed as quickly or on as favorable terms as anticipated; we may not be able to lease or re-lease second generation space quickly or on as favorable terms as old leases; our Southeastern and Midwestern markets may suffer declines in economic growth; we may not be able to lease our newly constructed buildings as quickly or on as favorable terms as originally anticipated; unanticipated increases in interest rates could increase our debt service costs; we may not be able to meet our liquidity requirements or obtain capital on favorable terms to fund our working capital needs and growth initiatives or to repay or refinance outstanding debt upon maturity; the Company could lose key executive officers; and others detailed in the Company’s 2008 Annual Report on Form 10-K and subsequent SEC reports.

Tables Follow

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Highwoods Properties, Inc.

Consolidated Statements of Income

(Unaudited and in thousands, except per share amounts)

Highwoods Properties, Inc.

Consolidated Balance Sheets

(Unaudited and in thousands)

Highwoods Properties, Inc.

Funds from Operations

(Unaudited and in thousands, except per share amounts)

Highwoods Properties, Inc.

Net Operating Income Reconcilation

(Unaudited and in thousands)