CUZ Cousins Properties Inc

Cousins Properties Incorporated (NYSE:CUZ) today announced that it has sold the Hanover Square retail center in suburban Richmond, VA, to affiliates of the Commonwealth Opportunity Fund, LLC. The 187,000-square-foot development includes a 117,000-square-foot Target store (separately owned by Target), a 19,000-square-foot PetsMart and shops and restaurants. The transaction also included 10.8 acres of land. The center is located near the intersection of Bell Creek Road and Route 360 and sold for $19 million in a transaction that closed on Thursday, September 22, 2005. "We are pleased that we were able to put together this development for Target, one of our most important retail clients, and deliver a great store location for them in the Richmond trade area," said Joel Murphy, president of Cousins' Retail Division. "We took the opportunity that the market presented to harvest the value creation resulting from our good execution of this development for the benefit of our shareholders." 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 7.5 million square feet of office and medical office space, 646 for-sale multi-family residential units, 3.8 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.