ATLANTA, May 30, 2017 /PRNewswire/ -- Hines, the international real estate firm, and Cousins Properties (NYSE: CUZ), the Atlanta-based REIT, announced today that Crown Castle, the nation's largest provider of shared wireless infrastructure, has signed a 55,622 square-foot lease at 8000 Avalon, a 224,000 square foot Class A office development in Atlanta, GA.
"We are excited to have Crown Castle as a new customer at 8000 Avalon," said John Heagy, Senior Managing Director of Hines. "As consumer demand for data services continues to grow, Crown Castle is expanding its presence in Atlanta, and we are honored that they picked 8000 Avalon as their new home."
8000 Avalon is the only high-rise office building in Avalon, a leading mixed-use development in North Atlanta. Hines and Cousins entered into a joint venture to develop the $73 million project, which is currently under construction. With the addition of Crown Castle, 8000 Avalon is now 65% leased.
"Cousins and Hines are thrilled that Crown Castle has chosen 8000 Avalon as its next location in Atlanta," said Larry Gellerstedt, president and chief executive officer of Cousins. "Crown Castle, a leader in providing access to technology and information through its powerful wireless infrastructure, is a great addition to our high-quality roster of customers. We look forward to having Crown Castle join the Avalon community in November."
Crown Castle was represented in the lease negotiations by Russ Jobson and Bryce Metcalf of Colliers International.
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 towers located in high growth Sunbelt 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.cousinsproperties.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 182 cities in 20 countries. Hines has $89.1 billion of assets under management, including $42.5 billion for which Hines provides fiduciary investment management services, and $46.6 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world, including several major projects in Manhattan. Historically, Hines has developed, redeveloped or acquired 1,126 properties, totaling over 350 million square feet. The firm's current property and asset management portfolio includes 457 properties, representing over 193 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. For more information, please visit www.hines.com.
SOURCE Cousins Properties