Cousins Properties Incorporated is a publicly traded real estate investment trust (REIT) that invests in office buildings in Atlanta, Charlotte,

Austin Austin is the capital city of the U.S. state of Texas, as well as the seat and largest city of Travis County, with portions extending into Hays and Williamson counties. Incorporated on December 27, 1839, it is the 11th-most-populous city ...

, Phoenix,

Tampa Tampa () is a city on the Gulf Coast of the U.S. state of Florida. The city's borders include the north shore of Tampa Bay and the east shore of Old Tampa Bay. Tampa is the largest city in the Tampa Bay area and the seat of Hillsborough County ...

, and

Chapel Hill, North Carolina Chapel Hill is a town in Orange, Durham and Chatham counties in the U.S. state of North Carolina. Its population was 61,960 in the 2020 census, making Chapel Hill the 17th-largest municipality in the state. Chapel Hill, Durham, and the state ca ...

. The company has developed notable properties including CNN Center,

Omni Coliseum Omni Coliseum (often called The Omni) was an indoor arena in Atlanta, Georgia (U.S. state), Georgia, United States. Completed in 1972, the arena seated 16,378 for basketball and 15,278 for ice hockey, hockey. It was part of the CNN Center, Omni ...

191 Peachtree Tower One Ninety One Peachtree Tower is a 50-story skyscraper in Atlanta, Georgia. Designed by Johnson/Burgee Architects and Kendall/Heaton Associates Inc, the building was completed in 1990 and is the fourth tallest in the city, winning the BOMA ...

, and

Emory Point Emory Point is a mixed-use development on Clifton Road in Druid Hills, unincorporated DeKalb County, Georgia, adjacent to Atlanta. It is across Clifton Road from the Centers for Disease Control and surrounded on three sides by the campus of Emory ...

in Atlanta. As of December 31, 2019, the company owned wholly or through joint ventures 38 properties comprising 21,767,000 square feet.

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 EQ 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 Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. Formally, a mortg ...

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

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 The American Cancer Society (ACS) is a nationwide voluntary health organization dedicated to eliminating cancer. Established in 1913, the society is organized into six geographical regions of both medical and lay volunteers operating in more than ...

Building in Atlanta for $166 million.

References

External links

{{Authority control 1958 establishments in Georgia (U.S. state) 1960s initial public offerings Companies based in Atlanta Companies listed on the New York Stock Exchange Financial services companies established in 1958 Real estate investment trusts of the United States