Cousins Properties Incorporated is a publicly-traded real estate investment trust that invests in office buildings in Atlanta, Charlotte, North Carolina, Austin, Texas, Phoenix, Arizona, Tampa, Florida, and Chapel Hill, North Carolina. The company has developed notable properties including CNN Center, Omni Coliseum, 191 Peachtree Tower, and Emory Point in Atlanta.
As of December 31, 2017, the company owned 28 properties comprising 14,541,000 square feet.
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History
The company was founded in 1958 by Tom Cousins.
In 1962, the company became a public company via an initial public offering.
In 1965, the company built an office building in downtown Atlanta.
In the 1970s, the company expanded into regional malls, real estate finance, and insurance but pared back after the economy softened.
In 1987, Tom Cousins formed the Cousins Foundation and funded it with stock in the company.
In 2002, Thomas Cousins retired from his position as CEO, but remained chairman of the board of directors until the end of 2006, at which time he retired. R. Dary Stone also stepped down from the president and COO positions in 2002.
In 2004, the company partnered with Jim Wilson and Associates, Inc. to develop The Avenue at Carriage Crossing.
In 2006, the company sold Frost Bank Tower, which it developed in 2004, to Equity Office for $188 million. The company also sold Bank of America Plaza in Atlanta for $436 million. In 2012, the building was sold at a foreclosure auction for $235 million.
In 2013, the company acquired Park Oak Central Tower. It also acquired Greenway Plaza for $950 million.
In 2016, the company sold 191 Peachtree Tower for $268 million. The company also sold The Points at Waterview for $26.8 million and North Point Center East for $92.3 million.
In 2016, the company acquired Parkway Properties and spun off its Houston assets into Parkway, Inc.
In 2017, the company sold the American Cancer Society Building in Atlanta for $166 million.
Maps Cousins Properties
References
External links
Source of article : Wikipedia
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