Cousins Properties Announces 216,000 Square Feet Of New Leasing Activity In Houston, Texas
ATLANTA, Feb. 26, 2015 /PRNewswire/ -- Cousins Properties Incorporated (NYSE: CUZ) announced today that it has signed two large lease extensions in Houston, Texas totaling approximately 216,000 square feet with Direct Energy and Cox Radio.
"I'm very pleased to announce two significant lease transactions in our Houston portfolio," said Larry Gellerstedt, president and chief executive officer of Cousins. "With the execution of Direct Energy and Cox Radio, we have successfully mitigated a substantial portion of our near-term lease exposure in Houston at new rents well above our current in-place rents."
Direct Energy, the sixth largest customer in Cousins' Houston portfolio, currently occupies a total of 228,159 square feet of space at Greenway Plaza. 173,760 square feet was set to expire May 2017 and 54,399 square feet was set to expire January 2019. This extension reduces their total lease to 191,893 square feet and extends their maturity to May 2023.
Cox Radio, Inc., a customer at Post Oak Central since 2000, currently occupies 23,864 square feet of space. This extension maintains the same square footage and extends their maturity from September 2015 to March 2021.
About Cousins Properties Incorporated
Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, primarily invests in Class-A office assets located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina. The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousinsproperties.com.
Director, Investor Relations
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SOURCE Cousins Properties Incorporated