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ATLANTA, August 21, 2020 /PRNewswire/- Cousins Properties (NYSE: CUZ) today announced that Amazon had leased approximately 95,000 square feet in its hundred-mill progression allocation to house the Phoenix Tech Hub expansion. Cien Mill is a 287,000-square-foot, 18-story tower located in the center of Tempe. Total progression prices are expected to be approximately $153 million and initial construction occupancy is expected in the first quarter of 2022. Cousins owns a 90% stake and Hines holds a 10% stake in the joint venture approaching the allocation.
Amazon also rents more area to Hayden Ferry, building the existing cousins’ workplace adjacent to the hundred Mill site, and will expand to a hundred Mill as it grows in the city. Amazon’s 100 million lease was executed before Cousins announced the start of progression in February 2020. Lately, one hundred million is pre-leased by 44% with long-term lease commitments from Deloitte and Amazon.
“We are very pleased that Amazon has decided our one hundred Mill allocation for its expansion plans in Phoenix,” said Colin Connolly, president and CEO of Cousins Properties. “Its resolve to continue investing in new spaces validates the proposal for long-term prices of modern and well-located buildings for companies and employees.”
About Cousins Properties
Cousins Properties is a genuine, fully integrated, self-managed and self-managed real estate investment that is accepted as true with (REIT). The company, GA, founded in Atlanta and operating through its operating company, Cousins Properties LP, invests primarily in Class A workplace towers located in Sun Belt’s high-growth markets. Founded in 1958, Cousins creates price for its shareholders through its extensive experience in the development, acquisition, leasing and control of high quality genuine real estate assets. The corporate has implemented a comprehensive strategy based on an undeniable platform, trophies and opportunistic investments. For more information, visit www.cousins.com.
About Hines
Hines is a global personal real estate investment company founded in 1957 and operating in 219 cities in 23 countries. Hines has approximately $124.3 billion in assets under control, adding $63.8 billion for which Hines supplies fiduciary investment control and $60.5 billion for which Hines supplies third-party assets. Array The company has 148 advances underway worldwide. Historically, Hines has developed, remodeled or acquired 1362 homes totaling more than 449 million square feet. The Company’s existing portfolio of housing and asset control includes 514 homes, representing more than 222 million square feet. With a strong investment across the threat spectrum and all kinds of homes, and a pioneering commitment to sustainable development, Hines is one of the world’s largest and most reputable genuine real estate organizations. Visit www.hines.com for more information.
CONTACT: Roni ImbeauxVice Vice President of Finance and with [email protected]
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