ATLANTA, GA --
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.
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.
For a complete copy of the company’s news
release, please contact:
Cousins Properties Incorporated
Marli Quesinberry, 404-407-1898
Director of Investor Relations
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