Cousins Properties has completed three strategic transactions in Atlanta; Charlotte, N.C.; and Nashville.
The company has sold One South at the Plaza in Charlotte, acquired 725 Ponce in Atlanta and entered into a 50-50 joint venture to develop a mixed-use project in Nashville. These transactions are expected to strengthen Cousins' leading position in the Sun Belt, while enhancing the quality of its portfolio, maintaining a pipeline of attractive development opportunities and providing a compelling entry into a new core market.
Cousins sold One South at the Plaza in Uptown Charlotte, an 891,000 square foot office asset, for $271.5 million. One South was developed in the 1970s and acquired by Cousins through its merger with TIER REIT in 2019. It is currently 58 percent leased following Bank of America's December 2020 lease expiration. The sale does not include the recently acquired adjacent College Street parking deck.
In another deal, the firm acquired 725 Ponce,
