ATLANTA, March 30, 2016 /PRNewswire/ -- Cousins Properties Incorporated (NYSE: CUZ) announced today that it will develop Dimensional Fund Advisors' new 229,000 square-foot regional headquarters building in Charlotte, NC.
"We are very excited to have another opportunity to work with Dimensional, a leading global investment firm with a rich history and an incredible track record for success," said Larry Gellerstedt, President and Chief Executive Officer of Cousins Properties. "Cousins and Dimensional have a long-standing relationship that began when we developed their global headquarters in Austin in 2005. We are honored to partner with them once again on their regional headquarters in Charlotte."
Cousins and Dimensional formed a 50/50 partnership to develop the regional headquarters building and subsequently closed on the 2.3 acre office building site located in the South End neighborhood of Charlotte. Dimensional also signed a 15-year lease to take 100% of the office space. Construction is anticipated to commence in the fourth quarter of 2016, and delivery is targeted for the fourth quarter of 2018.
"As we plan for the future, our new regional headquarters will enable us to enhance the services we offer our clients and provide state-of-the-art facilities for conferences and meetings, benefiting both our clients and our employees," David Booth, Chairman and Co- Chief Executive Officer of Dimensional said.
About Cousins Properties Incorporated
Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, primarily invests in Class-A office assets located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina. The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousinsproperties.com.
About Dimensional Fund Advisors
Dimensional is a leading global investment firm that has been translating academic research into practical investment solutions since 1981. With clients around the world, Dimensional has 12 offices in eight countries and global assets under management of approximately $388 billion as of December 31, 2015. For more information, please visit www.dimensional.com.
Director, Investor Relations
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SOURCE Cousins Properties Incorporated