Sale Concurrent with Departure of Industrial Division President Forrest Robinson (top right photo) to Form New Development Company. Photo of Tom Bell, chairman and CEO of Cousins Properties, is at left)
"Forrest has been a great asset to Cousins during his four yearshere and his hiring of Bob was a key factor in the growth of our young industrial business. We will miss them both," said Tom Bell, (top left photo) chairman and CEO of Cousins Properties.
ATLANTA, GA--Cousins Properties Incorporated (NYSE:CUZ) is selling 167 acres of land at two Atlanta-area industrial parks to Weeks Robinson Properties, an Atlan
ta-based industrial development, management and leasing company, for approximately $18.5 million.
ta-based industrial development, management and leasing company, for approximately $18.5 million.The transactions, which will close through next year, include one site totaling 44 acres at King Mill Distribution Park (photo at left) in Henry County, south of Atlanta, and three sites totaling 123 acres at Jefferson Mill Business Park, (photo at right below) northeast of Atlanta. Cousins will continue to own the existing buildings and remaining land at the parks. 
The Company also announced the resignation of Forrest Robinson,(top right photo) president of Cousins' Industrial Division. Robinson is leaving the Company to partner with industrial development veteran Ray Weeks (photo at right) in the formation of Weeks Robinson.
Since 2004, Weeks has partnered with Cousins to develop industrial buildings in Atlanta. Bob Currie, senior vice president of leasing for the Industrial Division, is also leaving Cousins to join Weeks Robinson, which has been awarded the leasing assignment for the Cousins/Weeks-owned industrial buildings at each park, as well as marketing the two available retail sites at Jefferson Mill.(photo at right)
The Company will not replace Robinson or Currie, and its operating industrial properties will now be managed internally by the Office/Multi-Family Division. Cousins will continue to partner with Seefried Properties on two Dallas-area industrial projects.
WeeksRobinson will replace Cousins on the master development team for Fort Gillem, (photo at right below) a 1,427-acre military base in suburban Atlanta, but Cousins will continue to have a financial participation in that redevelopment.
"Forrest has been a great asset to Cousins during his four yearshere and his hiring of Bob was a key factor in the growth of our young industrial business. We will miss them both," said Tom Bell, (top left photo) chairman and CEO of Cousins Properties."Combined with their departure, thisland sale means Cousins is not pursuing new speculative industria ldevelopment opportunities in Atlanta, giving us more time and resources for office, retail, residential and mixed-use opportunities.Those have been our core businesses for decades, and we believe they can deliver the best returns for our shareholders."
CONTACT:
CONTACT:
Cousins Properties Incorporated 
Investment Community:
Mark Russell,
Senior Vice President,
404-407-1390
Media:
Matt Gove,
Vice President,404-407-1490
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