Cousins Properties Incorporated
 |
|
| Public company | |
| Traded as | : CUZ S&P 400 component |
| Founded | 1958 |
| Founder | Tom Cousins |
| Headquarters | Atlanta, Georgia |
|
Key people
|
S. Taylor Glover, Chairman Lawrence L. Gellerstedt III, CEO Gregg D. Adzema, CFO |
| Revenue |
 $0.259 billion (2016) |
 $0.080 billion (2016) |
|
| Total assets |
$4.171 billion (2016) |
| Total equity |
$2.455 billion (2016) |
|
Number of employees
|
279 (2016) |
| Website | www |
Cousins Properties Incorporated is a publicly-traded real estate investment trust that invests in office buildings in Florida, Georgia, Arizona, Texas, and 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, 2016, the company owned 31 properties comprising 17.0 million square feet.
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.
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