Community Shopping Center, in Tallahassee, Florida, to feature Publix
Supermarket and Academy Sports & Outdoors
ATLANTA--(BUSINESS WIRE)--
Cousins Properties Incorporated (NYSE: CUZ), in partnership with Watkins
Retail Group and New Horizon Retail Development, announced today it has
started development on Mahan Village, an approximately
150,000-square-foot community shopping center located on a 19-acre site
in Tallahassee, Fla. The development is estimated at approximately $25
million and is located at the intersection of Capital Circle and Mahan
Drive, one of the busiest intersections in the City of Tallahassee.
“Mahan Village, with its strong infill location and first-rate anchor
tenants, represents the perfect type of development for this point in
the investment cycle,” said Michael Cohn, executive vice president of
retail investments, leasing and asset management for Cousins Properties.
“We are very excited to partner with Cousins on another deal and think
the extension of this relationship and redevelopment arena will be a
desirable ongoing business model for both companies,” said W. Neal
Freeman, President of Watkins Retail Group.
Mahan Village will be anchored by Publix Supermarket (45,600 square feet
and scheduled to open November 2012) and Academy Sports & Outdoors
(67,664 square feet and scheduled to open October 2012). The Publix
Supermarket will be relocated and expanded from an existing, undersized
store located directly across the street. In addition, the project will
contain approximately 30,000 square feet of local shop and restaurant
space. Mahan Village is 79% preleased.
Earlier this year, Cousins announced a partnership with Watkins Retail
Group to develop Publix-anchored neighborhood shopping centers in
Florida and Tennessee. This will be the second project the two companies
have partnered.
About Cousins Properties
Cousins Properties Incorporated is a leading diversified real estate
company with extensive experience in development, acquisition,
financing, management and leasing. Based in Atlanta, the Company
actively invests in office and retail projects. Since its founding in
1958, Cousins has developed 20 million square feet of office space, 20
million square feet of retail space, more than 3,500 multi-family units
and more than 60 single-family neighborhoods. The Company is a fully
integrated equity real estate investment trust (REIT) and trades on the
New York Stock Exchange under the symbol CUZ. For more, please visit www.cousinsproperties.com.
Certain matters discussed in this press release are forward-looking
statements within the meaning of the federal securities laws and are
subject to uncertainties and risk and actual results may differ
materially from projections. Readers should carefully review Cousins’
financial statements and notes thereto, as well as the risk factors
described in Part I, Item 1A of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2010 and other documents Cousins files
from time to time with the Securities and Exchange Commission. Such
forward-looking statements are based on current expectations and speak
as of the date of such statements. Cousins undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a
result of future events, new information or otherwise.
Source: Cousins Properties Incorporated
Contact:
Cousins Properties Incorporated
Cameron Golden
Director of
Investor Relations and Corporate Communications
404-407-1984
camerongolden@cousinsproperties.com