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.
About Cousins Properties Incorporated
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.
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