Stan Johnson Co. completes sale of two FedEx properties in Michigan

 Tulsa, OK, Jan. 23, 2012 –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of two distribution facilities, 100% leased to FedEx Corporation, located in suburban Detroit and in Kalamazoo, Michigan.  The combined sale price was $7.85 million.

Craig Tomlinson (top right photo) and John Zimmerman (lower left photo) of Stan Johnson Company represented both parties, who are private individuals. 

“The lack of new builds in the single-tenant space is driving buyers to shorter and shorter leases,” said Tomlinson. “While both are sub 10-year leases, the buyer is very satisfied with the long-term prospects of keeping his tenant. 

The seller did a great job timing the market, having recently exercised lease extensions on both buildings,” said Zimmerman.

Contact:      

David Ebeling

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com

PCCP LLC Provides $16 Million Senior Loan to Recapitalize University Mall in Chapel Hill, NC

  

NEW YORK, NY, Jan. 23, 2012 - PCCP, LLC announced today it has provided a $16 million senior loan to recapitalize University Mall (top left photo) in Chapel Hill, NC on behalf of the owner, Madison Marquette, a retail real estate investor and operator.

Built in 1973 and renovated in 2008, University Mall is a 367,623 square foot enclosed shopping mall on 39.5 acres. The center is approximately 89 percent leased and anchored by Dillard’s, Rose’s, Harris Teeter, and A Southern Season.

Madison Marquette purchased the mall in 2007 and has since invested approximately $3.4 million in interior and exterior renovations as part of its repositioning strategy for the asset.

The business plan is to undertake a series of physical, merchandising and programming enhancements intended to position the center as Chapel Hill’s primary shopping and entertainment destination, a focal point of community and cultural activity, and a venue that reflects the unique character of this highly educated community. 

Recent leasing activity will provide for the $9 million expansion and conversion of an existing Harris Teeter Supermarket into the grocer’s flagship store concept, and the addition of the Chapel Hill Library.

“Madison Marquette is a premier national real estate investment and operating company that specializes in the development, redevelopment and repositioning of retail and mixed use properties,” said John Randall (top right photo), senior vice president with PCCP, LLC.

In addition to PCCP’s senior loan, Jay Lask (middle left photo), managing director of Madison Marquette, has indicated the company plans to invest another $7.5 million in capital to continue to execute its repositioning and value enhancement strategy. 

Says Lask: “University Mall benefits from serving a community with high barriers to entry, a recession resistant economy and a large daytime employment base. 

"Additionally, its resident population, that ranks among the most highly educated in the country, has a high level of disposable income and a very strong desire to spend locally.”

University Mall is well situated at the intersection of Route 15/501 (North Fordham Blvd.) and South Estes Drive. Route 15/501 is a major thoroughfare and provides direct access to Durham, NC to the northeast and Pittsboro to the south.

Mark Remington and Jordan Lex of HFF arranged the financing.

 Learn more about PCCP at http://www.pccpllc.com/.

Contact: Darcie Giacchetto, Spaulding Thompson & Associates, 949.278.6224

CRE Show: U.S. Retail Real Estate Market on the Road to Recovery

ATLANTA (Jan. 23, 2012) – The Great Recession left the retail real estate market ailing, but the sector exhibited some significant signs of health last year and should continue to recover in 2012.

 Guests of the most recent episode of the “Commercial Real Estate Show” provided those observations and others in a detailed look at the market.

Topics included retail spending, investment sales activity, landlord-tenant negotiations and the growth of Smashburger, an award-winning, fast-casual restaurant chain.

On a chain-store basis, retail spending grew by 4.7 percent in 2011 when compared to the year before, according to Michael Niemira (top right photo), chief economist for the International Council of Shopping Centers. The growth was the largest since 1999, but Niemira qualified the rise by noting it was fueled to a large degree by price increases implemented by retailers grappling with inflation in their supply chains.

 Chain-store sales should increase by 3 percent in 2012, Niemira said. “In many respects, [that] is a better number because the inflationary pressures are receding,” he added.

Investment sales of retail properties also grew substantially in 2011. Such transactions totaled about $47 billion last year – almost double 2010’s figure of $24 billion, said Kevin Imboden, senior market analyst for Real Capital Analytics, who added his firm hasn’t finalized the 2011 figures yet.

 “A lot of investors are looking for new opportunities,” Imboden said. “I think there might be a little bit of a conservative element too because a lot of the centers that were selling were grocery-anchored strip centers … Everyone needs to go to those centers.”

 Max Sheets (middle left photo), senior vice president of real estate for Smashburger, said his firm concentrates on what he calls “A+” real estate – meaning the site features high traffic counts, has big-box retailers nearby and is in an area where the household incomes are $60,000 or more. The rents for such locations have risen above their pre-recession levels, Sheets noted. “Thankfully, what I’m starting to see is construction start again,” he said.

 Jonathan Neville (middle right photo), a partner with the Arnall Golden Gregory law firm, said retail tenants are now frequently trying to negotiate self-help provisions into their leases to allow them to recover the expense of property repairs and maintenance they undertake in the face of landlord inaction.

 Such negotiations often feature “an argument as to how you get your money back, whether you can offset rent, whether you just send a bill to the landlord and hope they pay it, or whether you have to go to court,” Neville said.

 Self-help provisions are easier for big, national tenants to get, Neville added.

 To learn more about the U.S. retail real estate market, listen to the whole show, which is available for download here.

 The next “Commercial Real Estate Show” will be available Jan. 25 and will provide an update on the U.S. industrial market.

 Contact:

Stephen Ursery

 Wilbert New Strategies

sursery@wnspr.com

Berger Commercial Realty Corp. Announces Three New Leases

 FORT LAUDERDALE, FL –Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, and serving clients around the state, announced Senior Vice President Steve Hyatt (top right photo) closed three new lease transactions.

 Hyatt represented tenant Trans-I Technologies in the 3-year lease of 1,336-square-feet of space located at 888 E. Las Olas Blvd in Fort Lauderdale from landlord The Las Olas Company.

 Additionally, Hyatt represented landlord Carbogen Corporation in the 2-year lease of 950-square-feet of space located at 1041 S.E. 17th St. Causeway in Fort Lauderdale to tenant Water’s Edge Consulting, LLC.

 Hyatt also represented landlord Carbogen Corporation in the 3-year lease of 950-square-feet of space located at 1041 S.E. 17th St. Causeway in Fort Lauderdale to tenant MTS Yachts, represented by Kathleen Beasley of Charles Rutenberg Realty.

Joseph Byrnes Hired as Vice President

FORT LAUDERDALE, FL. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced it has hired commercial real estate broker Joseph Byrnes (middle right photo) as vice president.

 Byrnes has more than 27 years of real estate experience in Broward County. At Berger Commercial Realty Corp., he will be responsible for providing a full range of commercial real estate and brokerage services, including the representation of property owners in the sale, lease and oversight of their assets.

Byrnes currently represents more than 800,000 square feet of office, industrial and retail space. He is a retail real estate specialist in the capacity of landlord and tenant representation.

 “We are proud to welcome Joe to the firm," said Lloyd Berger (lower left photo), founder and president Berger Commercial Realty Corp. "The synergy between his professional expertise and our firm's services is tremendous. He immediately brings new business development to the firm while offering expanded services to his existing client roster." 

 Byrnes was previously a broker at ComReal in Fort Lauderdale. He is CCIM member, a member of the South Florida Office Brokers Association, and a past member of the Commercial Industrial Real Estate Broker Association, for which he served as president from 2005 through 2010. Byrnes has been named a CoStar Power Broker for the past seven consecutive years. He holds a Bachelor of Science degree from the University of South Florida and is a resident of Plantation.

Contacts:

Lindsey Marmorstein

Pierson Grant Public Relations

6301 NW 5th Way, Suite 2600

Fort Lauderdale, FL 33309

P:  954-776-1999, ext. 255

F: (954) 776-0290

E-mail: lmarmorstein@piersongrant.com

Marielle Sologuren

Pierson Grant Public Relations

(954) 776-1999, ext. 226

msologuren@piersongrant.com

Rhodes+Brito Architects Earns One Year Continuing Services Contract from Seminole, FL County Schools

ORLANDO, FL --- Rhodes+Brito Architects based in Orlando was recently awarded a continuing services contract from Seminole County Schools.

Ruffin Rhodes (top right photo), co-founder and partner at the architectural firm said the one year contract, which starts in November, covers small projects valued at $2 million or less, and it can be renewed for an additional year.

Rhodes+Brito Architects is a full-service architectural firm that opened its offices in downtown Orlando in 1996 to specialize in design of public facilities, including schools, airports and courthouses.

Firm  Awarded Continuing Service Contract by City of Ocoee to Handle “Key” Architectural Projects

ORLANDO, Fla., --- Rhodes+Brito Architects based in Orlando was recently awarded a continuing services contract to handle architectural projects for the City of Ocoee for construction projects not to exceed $2 million, Ruffin Rhodes, co-founder and partner of the firm reported.

For more information, contact:

Ruffin Rhodes, Rhodes+Brito Architects, 407-648-7288 x103 ruffin@rbarchitects.com

Maximiano Brito, Rhodes+Brito Architects, 407-648-7288 max@rbarchitects.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)

First Green Bank in Mount Dora, FL to showcase newest technology for environmental efficiency

 

MOUNT DORA, FL – First Green Bank’s newest headquarters facility (top centered photo)in Mount Dora, which will host its official “Grand Green Opening” on Saturday, Feb 4 from 10 a.m. to 2 p.m., is a marvel of modern environmental engineering that’s as much a museum of science and technology as a working bank.

Kenneth LaRoe (middle right photo) chairman and chief executive officer of First Green Bank, said he plans to host tours of the bank facility to show off the building’s environmental features, including a unique “living wall” system that helps reduce CO2 and VOC.

“This is the way of the future,” LaRoe said, “and we are very proud to unveil this technology here in Lake County.”

A rooftop solar panel system will generate 17 percent of the total operating energy the building will need, LaRoe said. New LEED parking lights utilize only 20 percent of the typical energy requirements to generate 14,000 lumens — more than enough light to keep the area secure without adding to “ambient light pollution” that blacks out stars and confuses nocturnal wildlife.

Inside, specially designed fluorescent lighting and automated lighting controls reduce energy usage by almost 40 percent.

Ninety percent of the bank’s workers have windows to capitalize on daylight and reduce indoor electrical consumption.

And not just any windows! Engineers designed special green screens, efficient glazing and exterior shades to block infrared heat and decrease energy demand for interior cooling.

Building materials were selected for their environmental qualities. Structured steel studs that reinforce walls were made from 100 percent recycled steel. The plaster finish was made from natural American clay that is non-toxic and environmentally benign. The cedar wood canopy above the drive-through tellers is made from 100 percent locally reclaimed wood. And pine trees removed to make way for the building were used for building construction and interior décor.

 

“There’s a lot of Lake County in this building,” LaRoe said.

The building’s “butterfly roof” was designed to collect rain water for use in irrigating the Florida native landscaping, and roofing vegetation and reflective material further reduce the building’s energy needs.

The air-conditioning system funnels more than 80,000 gallons of condensate annually to a special cistern so it can be reused to flush toilets and irrigate indoor plants. Altogether, First Green Bank’s water usage is almost 80 percent more efficient than comparably sized buildings in Florida.

Only the second commercial building in Florida to claim the U.S. Green Building Council’s prized LEED standard, First Green Bank was designed to stand out as a local landmark.

“We are a local community bank with a global mission and we are proud of our Lake County heritage,” LaRoe said.

For more information about this press release, contact:  

 Kenneth E. LaRoe, CEO and Chairman, First GREEN Bank, 352-483-9100, ken@firstgreenbank.com

Paul Rountree, President, First GREEN Bank, 352-483-9100, paul@firstgreenbank.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 or 407-461-3780, lvershelco@aol.com   

NAI Realvest Orlando’s Michael Heidrich Brokers Two Leases in Central Florida

Performance Group Takes 1,991 SF of Office Space at 1015 Maitland Center Commons Blvd.

MAITLAND, Fla. --- NAI Realvest negotiated a new lease agreement for 1,991 square feet of office space in suite 104 at 1015 Maitland Center Commons Blvd.

 Michael Heidrich (top right photo), a principal in the firm, brokered the transaction representing the Maitland-based landlord, 1015 Maitland Center Commons, LLC and the tenant, Internet Performance Group, LLC.

A & B Stucco Expands Lease at Goldenrod CommerCenter in Orlando

MAITLAND, FL --- NAI Realvest negotiated a new lease agreement for 2,206 square feet of industrial space at Suite 250 Goldenrod CommerCenter (lower left photo), 1468 N. Goldenrod Rd. in Orlando.

 Michael Heidrich, a principal in the firm, brokered the transaction representing the Maitland-based landlord, COP-Goldenrod, LLC and the tenant, A & B Stucco, Inc. of Orlando.

 A & B Stucco, Inc., who already occupies suites 240 and 255 with 8,824 square feet increased its occupancy by another 25 percent and now leases a total of 11,030 square feet at Goldenrod CommerCenter (middle left photo).   

For more information, contact:

Michael Heidrich, Principal, NAI Realvest 407-875-9989 mheidrich@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com  

40-Year Industry Veteran Al Schwacke Rejoins Grubb & Ellis in Philadelphia

 PHILADELPHIA, PA – Grubb & Ellis Company today announced that Alfred W. Schwacke (top right photo), a 40-year industry veteran, has rejoined Grubb & Ellis as senior vice president in the company’s Philadelphia office.

Schwacke will focus on serving his existing client base and institutional investment sales.

 “With more than four decades of experience in the Philadelphia area, Al has really seen it all. From leasing to sales to development and beyond, he brings a unique and valued perspective to client engagements,” said Wayne Fisher (middle left photo), executive vice president, director, of Grubb & Ellis’ Philadelphia office. “He will help us continue to build our local market presence and we are thrilled to welcome Al back to Grubb & Ellis.”

Schwacke opened the Philadelphia office of Oliver Realty in 1980 which was acquired by Grubb & Ellis in 1986.

During his tenure, he grew Grubb & Ellis into a major regional firm with multiple service lines, including transaction management, property management, architectural services and construction management.

He was instrumental in establishing relationships with institutional owners such as Prudential and Teachers Insurance and corporate tenants including Towers Perrin, Colonial Penn Life Insurance, PSFS and Campbell Soup.

 In 1996, Schwacke opened the real estate division of Legg Mason, which was later acquired by Northmarq Advisors. Serving as executive vice president, his responsibilities included the development of corporate service accounts and oversight of client relationships. He also focused on brokerage of investment and industrial properties and portfolios, and provided consulting expertise to developers and owners.

Contacts:        

Monica Sparreo                                    Matthew Wright

312.698.6709                                        215.246.2725

monica.sparreo@grubb-ellis.com       matthew.wright@grubb-ellis.com

Chicago Walgreens Trades for $13 Million

  

 CHICAGO, IL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of a 16,047-square foot Walgreens drugstore (top left photo) in Chicago. The sales price of $13 million represents $810 per square foot.

Sean Sharko (middle right photo) and Austin Weisenbeck (middle left photo), senior associates in Marcus & Millichap’s Oak Brook office, represented the seller, Clark Street Development LLC, an affiliate of Mega Realty.

Sharko and Weisenbeck also represented the buyer, an overseas-based private capital investor. Loukas Kozonis provided general counsel services for Clark Street Development.

“Single-tenant net-leased assets continue to trade briskly in Chicago,” says Sharko. “This property is a very infill, difficult-to-replace piece of real estate.”

“Walgreens signed an absolute-net, 75-year lease with zero landlord responsibilities,” adds Weisenbeck. “The building was renovated from the ground up.”

The property is located on Chicago’s North Side in the historic Andersonville neighborhood at 5440 North Clark St. Jewel-Osco, Chicago’s No. 1 grocer, is across the street.

Other retailers in the area include 7-Eleven, Fifth-Third Bank, Chase Bank, Subway and McDonald’s. The location is bordered by three streets: Catalpa Avenue, Clark Street and Ashland Avenue.

Walgreens Co. is one of the fastest-growing retailers in the United States and is a leader in the chain drugstore industry in sales and profits.

Contact: Stacey Corso Public Relations Manager, (925) 953-1716

Stan Johnson Co. Completes Sale of Five My Dentist Properties in Oklahoma for $7.5 Million

Tulsa, OK –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the portfolio sale of five dental clinics, 100% leased to My Dentist, located in Oklahoma  for a combined price of $7.5 million.

Jeff Matulis, Toby Scrivner, and Karen Vinsko of Stan Johnson Company represented the seller, a developer based in Oklahoma City, and the buyer, an institutional REIT out of New York.

The portfolio of properties was sold free and clear of debt.  All properties are situated within excellent retail trade areas in markets throughout Oklahoma.The properties featured new 15-year triple net leases with attractive annual rent increases.

Contact:      

David Ebeli

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com

Happy Chinese New Year From Your Friends at C.T. Hsu + Associates Architects in Orlandp. FL

ORLANDO, FL -- Chinese New Year is the most important of all traditional Chinese holidays.

It is often called the Lunar New Year because it is determined by the lunar calendar and falls anywhere between late January and mid February. This year, it falls on January 23, 2012.

 The origins of this holiday date back to 2600 B.C. when the Emperor Huang Ti introduced the first cycle of the Chinese zodiac based on ancient legend.

 When Lord Buddha summoned all animals to bid him farewell before he departed the Earth, only twelve animals came. As a reward, he named a year after each one and proclaimed that people born in each animals' year would possess some of that animals personality.

 2012 is the Year of the Dragon, and is the most vital and powerful of any in the Chinese Zodiac. 

 Dragon people are imaginative, always able to see new paths and will take a radical approach.

Dragons are innovative, inspiring, self assured, brave, passionate, conceited, and quick-tempered. 

People born in Dragon years (1940, 1952, 1964, 1976, 1988, 2000) find pleasure in helping others, and you can always count on their help.

 Some famous people born under the sign include Joan of Arc (lower right photo), Susan B. Anthony, Florence Nightingale (middle left photo), John Lennon (top right photo) and Sigmund Freud.

  Contact:

C.T. Hsu + Associates, P.A.

820 Irma Avenue · Orlando, FL 32803 ·

407 423 0098 · Fax 407 423 4793

http://www.cthsu.com/

Grubb & Ellis Represents Mitel in 83,264 SF Lease for U.S. Headquarters in Mesa, AZ

 PHOENIX, AZ – Grubb & Ellis Company today announced that it represented Mitel® (Nasdaq:MITL) in a 10-year lease for 83,264 square feet of office space at Riverview Point (top left photo) in Mesa for its U.S. headquarters. 

 The Phoenix team of Robert Stephens, vice president, Kurt Saulnier, associate vice president, and Tricia Gumulka, associate, all of the company’s Industrial Group, represented Mitel in conjunction with Steven Morgan, senior vice president, Office Group, of Grubb & Ellis’ Atlanta office, who has the corporate relationship with the communications company.

 Mitel expects to relocate its headquarters to 1146 N. Alma School Road from its current location in Chandler in summer 2012. The global provider of unified communications and collaboration (UCC) software solutions will use the space for corporate sales and administration, engineering and diagnostic testing, as well as its internal university. 

 “This property is a great fit for Mitel’s U.S. headquarters,” Stephens said. “The two-story building is currently in shell condition and will be built out to Mitel’s specifications. Additionally, it’s located next to a hotel, 10 minutes from the airport and near the 202 freeway, making it easily accessible for employees as well as those visiting the company’s university.”

 Built in 2009 within the 250-acre master-planned Mesa Riverview Project, Riverview Point is owned by private investors that were represented by Bryan Taute and Michael Strittmatter of CBRE in the transaction. 

Contacts

 Monica Sparreo                                  Ruth Darby

312.698.6709                                       602.952.3837

monica.sparreo@grubb-ellis.com       ruth.darby@grubb-ellis.com

Condo Vultures Finds Greater Downtown Miami: New Condo Prices Rise but Sales Slow

 MIAMI, FL --New condo sales in Greater Downtown Miami slowed by 53 percent in the 2011 on a year-over-year basis compared to 2010 as developer inventory decreased and the average price increased by 21 percent as of Dec. 31, according to a new report from CondoVultures.com.

Buyers purchased nearly 1,750 new units for a combined $800 million between January and December of 2011 to reduce the number of unsold units controlled by the original developers to eight percent of the nearly 22,250 condos created in Greater Downtown Miami during the South Florida real estate boom, according to a new report based on an analysis of Miami-Dade County Property Appraiser data.

 

The remaining unsold developer units are situated in two dozen of the more than 80 condo projects that were created in a 60-block stretch comprised of the Brickell Avenue Area, Downtown Miami, and the Biscayne Boulevard Corridor during the real estate boom that began in 2003, according to an analysis based on the Condo Vultures® Official Condo Buyers Guide To Miami™.

"Buyers are acquiring an average of nearly 150 developer condos per month for $368 per square foot in Greater Downtown Miami," said Peter Zalewski (lower left photo) a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "The transaction velocity remains strong in early 2012 even though the average developer sales price has increased from less than $300 per square foot in 2009 and $305 per square foot in 2010.

“The unanswered question is whether buyers - especially international investors with foreign currencies that have weakened against the U.S. dollar in recent months - will continue to acquire unsold developer units at the same pace as prices increase and the selection decreases in Greater Downtown Miami."

Condo Vultures® LLC is a real estate consultancy and marketing company based at 1005 Kane Concourse, Suite 205, Bal Harbour, Florida, 33154. You can reach Condo Vultures® LLC at 800-750-0517.

South Florida Industrial Portfolio Trades for $18.9 Million

FORT LAUDERDALE, FL, Jan. 20, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, in cooperation with Butters Realty & Management, one of South Florida’s leading brokerage and management firms, has brokered the sale of a fully leased industrial building portfolio developed and owned by an affiliate of the Butters family.

The buyer was Industrial Income Trust Inc. (IIT). The four-building 208,590-square-foot portfolio closed at $18.9 million, which equates to approximately $90 per square foot. 

Malcolm Butters (middle left photo) president of Butters Realty & Management, in conjunction with Douglas K. Mandel (middle left photo), a vice president investments in Marcus & Millichap’s Fort Lauderdale office, brokered the sale.

“We are excited about starting our relationship with IIT on this Broward County acquisition as well as with working with them on their new Miami development,” says Butters. “IIT is quickly becoming one of the most active industrial REITs in the United States.”

“The industrial sector’s inherent stability, ties to growth-leading industries, and higher spreads relative to the cost of debt continue to create investor interest,” adds Mandel. “This portfolio is a well-positioned and diversified group of properties featuring an excellent blend of single-tenant and multi-tenant assets across an array of product types, including warehouse, flex and cold-storage distribution.”

The properties are:

• Tamarac Business Center: 125,000 square feet; 6701 Nob Hill Road, Tamarac
• Tamarac Commerce Center: 49,100 square feet; 6501 Nob Hill Road, Tamarac
• Sunny Morning Foods: 10,000 square feet; 5330 NW 35th Ave., Fort Lauderdale (top left photo)
• Sun Sentinel building: 24,490 square feet; 3585 NW 54th St., Fort Lauderdale

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Cousins Properties Declares First Quarter Common and Preferred Stock Dividends

  

ATLANTA, GA--Cousins Properties Incorporated (NYSE: CUZ) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.045 per common share, payable February 23, 2012, to common stockholders of record on February 9, 2012. The $0.045 per share quarterly dividend equates to $0.18 on an annualized basis.

The Board of Directors also declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable February 15, 2012, to Series A preferred stockholders of record on February 1, 2012.

The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable February 15, 2012, to Series B preferred stockholders of record on February 1, 2012.

Contact:

Cousins Properties Incorporated

Cameron Golden (bottom right photo), 404-407-1984

Director of Investor Relations and Corporate Communications

camerongolden@cousinsproperties.com