ATLANTA, GA -- Cousins Properties Incorporated (NYSE: CUZ), in partnership with Watkins Retail Group and New Horizon Retail Development, announced today it has started development on Mahan Village, an approximately 150,000-square-foot community shopping center located on a 19-acre site in Tallahassee, Fla. The development is estimated at approximately $25 million and is located at the intersection of Capital Circle and Mahan Drive, one of the busiest intersections in the City of Tallahassee.
“Mahan Village, with its strong infill location and first-rate anchor tenants, represents the perfect type of development for this point in the investment cycle,” said Michael Cohn (middle right photo), executive vice president of retail investments, leasing and asset management for Cousins Properties.
“We are very excited to partner with Cousins on another deal and think the extension of this relationship and redevelopment arena will be a desirable ongoing business model for both companies,” said W. Neal Freeman, President of Watkins Retail Group.
Mahan Village will be anchored by Publix Supermarket (45,600 square feet and scheduled to open November 2012) and Academy Sports & Outdoors (67,664 square feet and scheduled to open October 2012).
The Publix Supermarket will be relocated and expanded from an existing, undersized store located directly across the street. In addition, the project will contain approximately 30,000 square feet of local shop and restaurant space. Mahan Village is 79% preleased.
Earlier this year, Cousins announced a partnership with Watkins Retail Group to develop Publix-anchored neighborhood shopping centers in Florida and Tennessee. This will be the second project the two companies have partnered.
York Stock Exchange under the symbol CUZ.
Contact
Cousins Properties Incorporated
Cameron Golden
Director of Investor Relations and Corporate Communications
404-407-1984
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