Cousins Properties has been dropping their retail properties in the last several quarters in an effort to refocus their portfolio on office towers. Cousins is focused on the Houston, Dallas, Atlanta, and Austin markets, and has already scooped up a handful of Atlanta towers. Cousins currently owns 191 Peachtree, Promenade, and Terminus 100 and 200.
Cousins’ latest move to exit retail came from the disposition of a shopping center in Kansas City, as well as the buy-out of Cousins’ interests in two joint ventures, which together controlled eight shopping centers across the US. Prudential Insurance Company bought Cousins’ share of the joint ventures for around $57 million and is now the sole owner of the assets.Share