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| Rendering of planned Victory Center, Uptown Dallas, TX |
DALLAS, TX --The Dallas office of Hines, the international
real estate firm, and Cousins Properties Incorporated (NYSE: CUZ), the
Atlanta-based REIT, announced today the formation of a joint venture to develop
Victory Center in the Uptown Dallas submarket.
Designed by Duda/Paine Architects, Victory Center will be a
23-story, trophy office tower with approximately 466,000 rentable square feet
of office and retail space and is expected to achieve LEED® Gold designation.
The 2.94-acre, fully entitled site is under contract, and
Hines and Cousins expect to commence construction in mid-2015.
Hines and Cousins previously partnered on the development of
One Ninety One Peachtree Tower in Atlanta. The 1.2 million-square-foot,
50-story office tower was completed in 1990.
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| Cynthia Cowen |
Hines Southwest Regional CEO Mark Cover stated,
"We are very excited about the opportunity to partner with Cousins again.
They have a wonderful reputation for developing and owning best-in-class office
towers. We look forward to leveraging the very best that our firms have to
offer in the development of Victory Center."
"We are thrilled to once again partner with Hines, a
true global leader in office development," said Larry Gellerstedt,
president and chief executive officer of Cousins.
"Our organizations share very similar cultural values
and highly complementary skillsets. Victory Center will be an excellent
addition to the thriving Uptown Dallas office market, and we couldn't be more
excited to be a part of the transformation occurring at Victory Park."
Victory Center will be located just north of Hines' One
Victory Park office development which was delivered in 2008 and is
currently 93 percent leased.
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| Bill Brokaw |
Victory Center will also benefit from market leading
amenities and attractions in close proximity including the DART Rail System,
the popular Katy Trail, W Dallas Victory Hotel, American Airlines Arena and
numerous retail and restaurant destinations.
Tenants can also expect a strong amenity base at Victory
Center, featuring a state-of-the-art fitness center, a conference center, an
on-site restaurant and café, and a rooftop terrace with panoramic views of
Dallas.
Bill Brokaw, Cynthia Cowen and Mark Dickenson of
Cushman & Wakefield will lease Victory Center on behalf of Hines and
Cousins.
For a complete copy
of the company’s news release, please contact:
Hines
George Lancaster, 713-966-7676
or
Cousins Properties Incorporated
Marli Quesinberry, 404-407-1898
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