Cousins Properties Announces Retail Property Dispositions
ATLANTA — (November 19, 2014) — Cousins Properties Incorporated (NYSE: CUZ) announced today the sale of five Publix-anchored shopping centers for $79.5 million. With these dispositions, Cousins has successfully completed its previously announced strategic exit from retail property ownership.
The five retail centers were owned in two joint ventures with Watkins Retail Group and consisted of approximately 486,000 square feet. The centers were sold in a single transaction to one purchaser and generated approximately $34.5 million in net proceeds to Cousins.
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.