Cousins Properties pays $201m for Charlotte creative office

Cousins Properties has made two property transactions in the South End submarket of Charlotte, N.C. These transactions increase Cousins’ presence in a leading Sun Belt submarket and are consistent with its long-term strategic objectives.

The firm acquired a 329,000-square-foot creative office, The RailYard, for $201 million. The property was developed in 2019 and is currently 97 percent leased with customers, including an Allstate technology center and an Ernst & Young innovation center.

Cousins also purchased 3.4 acres of land for $28.1 million. The company anticipates developing a 600,000-square-foot to 700,000-square-foot mixed-use development on the site to be called South End Station.

“The RailYard and South End Station are both attractive acquisitions with significant long-term value creation opportunities,” said Colin Connolly, president and CEO of Cousins Properties.  “Collectively, the investments create an advantageous concentration with