The Avenue(R) Carriage Crossing Set for October 19 Grand Opening; 88 Percent of Phase I Already Committed
August 08 2005 - 10:00AM
Business Wire
Cousins Properties Incorporated (NYSE:CUZ) today announced that its
sixth Avenue specialty shopping center, The Avenue Carriage
Crossing, will open for business on Wednesday, October 19 - and to
date, 88 percent of Phase I is leased. The Avenue is located at the
intersection of Houston Levee Road and Bill Morris Parkway (a/k/a
The Nonconnah Parkway) in Collierville - a suburb of Memphis,
Tennessee. Phase I of the 786,000 square-foot development will kick
off with a grand parade along the center's main street and a VIP
ribbon cutting ceremony featuring street performers, live-remote
radio broadcasts and prize drawings. "The concept of The Avenue is
just as innovative today as it was when we launched our first
center in Atlanta's East Cobb area in 1999," said Joel Murphy,
president of Cousins' Retail Division. "But the centers get even
better with every new generation we create. The Avenue Carriage
Crossing will contain all the best qualities of our Avenue program
and be the home to a great collection of shops and restaurants."
Anchor tenants Dillard's and Parisian will be located at opposite
ends of the lifestyle center with more than 82 other retailers and
restaurants spaced in between and along the crossing avenue. Those
retailers include Abercrombie & Fitch, American Eagle, Ann
Taylor and Ann Taylor Loft, Banana Republic, Barnes & Noble,
Bonefish Grill, Buckle, Build-A-Bear Workshop, Cache, Carrabba's,
Chico's, Eddie Bauer, Express, Finish Line, Gap, Gap Kids/Gap Baby,
Gymboree, Hollister, Jos. A. Bank, Kay Jewelers, Linens 'n Things,
New Balance, Pacific Sunwear, Starbucks, Talbots, Victoria's Secret
and White House/Black Market. The Avenue Carriage Crossing is being
developed by a partnership of Cousins Properties and Montgomery,
Alabama-based Jim Wilson & Associates. Construction began in
May, 2004, and at full build out, The Avenue Carriage Crossing will
total 786,000 square feet. Introduced by Cousins Properties in
1999, The Avenue concept combines premier national retailers,
select local merchants and specialty restaurants in an attractive,
pedestrian-friendly, open-air setting and has been extremely well
received by the consumer and the retailer alike. Cousins has
developed three Avenues in the Atlanta, Georgia area, one in
suburban Los Angeles, California and recently opened The Avenue
Viera in Melbourne, Florida. Cousins Properties Incorporated,
headquartered in Atlanta, has extensive experience in the real
estate industry including the development, acquisition, financing,
management and leasing of properties. The property types that
Cousins actively invests in include office, multi-family, retail,
medical office, industrial and land development projects. The
Company's portfolio consists of interests in 7.8 million square
feet of office and medical office space, 3.4 million square feet of
retail space, 0.4 million square feet of industrial space, over
3,300 acres of strategically located land tracts for sale or future
development, and significant land holdings for development of
single-family residential communities. Cousins also provides
leasing and management services to third-party investors; its
client-services portfolio comprises 11.2 million square feet of
office space. Cousins is a fully integrated equity real estate
investment trust (REIT) that has been public since 1962 and trades
on the New York Stock Exchange under the symbol "CUZ." For more
information on the Company, please visit Cousins' Web site at
www.cousinsproperties.com.
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