Cousins Properties Announces Lease With Visa At 1200 Peachtree Building In Midtown Atlanta
Cousins Properties (NYSE: CUZ) announced that Visa (NYSE: V) has signed a long-term lease for approximately 123,000 square feet at 1200 Peachtree in Midtown Atlanta. This move is expected to generate around 1,000 new jobs in the region as Visa establishes a permanent office presence, with initial occupancy anticipated in Q4 2022. Cousins acquired the property in 2019 and plans significant renovations to enhance its appeal for multi-customer use following Norfolk Southern's move to a new headquarters.
- Visa's long-term lease of 123,000 square feet enhances Cousins' property portfolio.
- The lease is expected to create approximately 1,000 new jobs in Atlanta.
- None.
ATLANTA, Sept. 29, 2021 /PRNewswire/ -- Cousins Properties (NYSE: CUZ) announced today that Visa (NYSE: V) has signed a long-term, approximately 123,000 square foot lease at 1200 Peachtree in Midtown Atlanta. Visa, a world leader in digital payments, is expected to create approximately 1,000 new jobs in the region over the next several years as it establishes a permanent office presence in the Atlanta market. Initial occupancy is expected during the fourth quarter of 2022.
"We are excited to see a financial technology leader like Visa focused on creating an exciting office environment for in-person collaboration," said Colin Connolly, President and Chief Executive Officer of Cousins. "Atlanta continues to attract large and growing companies recruiting new talent. The central location, proximity to renowned research institutions and accessibility that 1200 Peachtree offers is compelling for companies interested in the Midtown submarket."
Cousins acquired 1200 Peachtree in 2019 from Norfolk Southern Corporation (NYSE: NSC) as part of a larger transaction that included Cousins' development of Norfolk Southern's new headquarters in Midtown Atlanta. When Norfolk Southern moves out of 1200 Peachtree and into its new building at the end of this year, Cousins will reposition the property for multi-customer use. This redevelopment will include a complete renovation of the ground floor creating both indoor and outdoor amenities and taking advantage of the building's outstanding location within the Midtown Atlanta submarket.
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousins.com.
CONTACT:
Roni Imbeaux
Vice President, Finance and Investor Relations
404-407-1104
rimbeaux@cousins.com
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SOURCE Cousins Properties
FAQ
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