CUZ Cousins Properties Inc

Cousins Properties Incorporated (NYSE: CUZ) and Faison Enterprises announced today the companies have added nine additional retailers at The Avenue Murfreesboro, an 805,000-square-foot open-air retail center in suburban Nashville, Tenn. Conceived as the centerpiece of a 400-acre master-planned�commercial development along newly-opened�Medical Center Parkway, The Avenue Murfreesboro � a 50/50 joint venture of Cousins Properties and Faison Enterprises � will eventually be home to more than 110 retailers and restaurants. Construction began in July 2006 and the project�s Grand Opening is expected in October of 2007. The new lifestyle retailer commitments at the center are Brighton, Coldwater Creek, Francesca�s Collections, Kay Jewelers, Mimi�s Caf�, The Children�s Place and Yankee Candle. Joining those commitments are new power center retailer commitments from Linens �N Things and Petco. Previously announced commitments to the project include Ann Taylor Loft, Aveda, Barnes & Noble, Belk, Best Buy, Carters, Champs Sports, Chico's, Cost Plus World Market, Dick's Sporting Goods, Jos. A Bank, Lane Bryant, Limited Too, Longhorn Steakhouse, New York & Company, Off Broadway, Osh Kosh B'Gosh, Romano's Macaroni Grill, Talbots, Ulta and White House/Black Market. With the new commitments, The Avenue Murfreesboro's 660,000-square-foot Phase I is more than 65 percent committed. "Reaching more than 65 percent committed with more than 10 months until grand opening underscores the tremendous retailer interest this project has seen," said Joel Murphy, president of Cousins' Retail Division. "Thanks to this successful start and an outstanding partner in Faison, we are very optimistic The Avenue Murfreesboro will carry this momentum into 2007." "Leasing momentum at The Avenue Murfreesboro continues to build and this early success means we can now concentrate on filling the gaps and creating a diverse retailer mix for the project," said Mike Cohn, senior managing director with Faison. "This dynamic and growing central Tennessee region deserves a top-notch retail environment and we're proud to deliver it with Cousins." The Avenue Murfreesboro is the centerpiece of 400 acres of a new�master-planned�commercial development, planned by landowner C.M. "Bill" Gatton, along newly-opened�Medical Center Parkway, slated to include retail, office, hotel, convention center and public spaces. Medical Center Parkway connects the new Manson Pike interchange on I-24 with�the City of Murfreesboro's Gateway project, plans for which include the new 300-bed Middle Tennessee Medical Center along with medical and professional offices. The Avenue concept, introduced by Cousins Properties in 1998, has been extremely well received by consumers and retailers alike. In contrast to a mall, these open-air, pedestrian friendly centers appeal to the discriminating and often time-constrained shopper looking for premier national retailers, select local merchants and specialty restaurants in a convenient setting. Cousins Properties has opened four Avenues in the Atlanta area, one in suburban Memphis, one in suburban Los Angeles and one in Melbourne, Fla. The Avenue Webb Gin in Atlanta's Gwinnett County became the seventh Avenue in the Cousins portfolio when it opened in August 2006. For more information about The Avenue, please visit www.theavenuealist.com Faison Enterprises, Inc. is a privately-held development company with a diversified product portfolio that includes retail, commercial and residential project development, management and acquisitions services. With more than 40 years in the business and holdings of approximately $1 billion, including $500 million of new projects under development, the Charlotte NC based company manages and develops properties throughout the South and Mid-Atlantic and maintains regional offices in Bethesda MD, Washington DC, Charlotte NC, Charleston SC, Atlanta GA, Orlando and Delray Beach, FL. For more information, visit www.faison.com. Cousins Properties Incorporated, headquartered in Atlanta, has extensive experience in the real estate industry including development, acquisition, financing, management and leasing. Cousins actively invests in office, multi-family, retail, industrial and land development projects. The Company's portfolio consists of interests in 7.1 million square feet of office space, 4.2 million square feet of retail space, 2�million square feet of industrial space, one multi-family residential project and 23 single-family neighborhood developments, over 9,200 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 14.9 million square feet of office and retail 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. Certain matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risks, including, but not limited to, general and local economic conditions, local real estate conditions, the activity of others developing competitive projects, the cyclical nature of the real estate industry, the financial condition of existing tenants, interest rates, the Company's ability to obtain favorable financing or zoning, environmental matters, the effects of terrorism, the failure of assets under contract for sale to ultimately close and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Report on Form 10-K for the year ended December 31, 2005. The words �believes,� �expects,� �anticipates,� �estimates� and similar expressions are intended to identify forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in any forward-looking statement are reasonable, the Company can give no assurance that these plans, intentions or expectations will be achieved. Such forward-looking statements are based on current expectations and speak as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise. Cousins Properties Incorporated (NYSE: CUZ) and Faison Enterprises announced today the companies have added nine additional retailers at The Avenue Murfreesboro, an 805,000-square-foot open-air retail center in suburban Nashville, Tenn. Conceived as the centerpiece of a 400-acre master-planned commercial development along newly-opened Medical Center Parkway, The Avenue Murfreesboro - a 50/50 joint venture of Cousins Properties and Faison Enterprises - will eventually be home to more than 110 retailers and restaurants. Construction began in July 2006 and the project's Grand Opening is expected in October of 2007. The new lifestyle retailer commitments at the center are Brighton, Coldwater Creek, Francesca's Collections, Kay Jewelers, Mimi's Cafe, The Children's Place and Yankee Candle. Joining those commitments are new power center retailer commitments from Linens 'N Things and Petco. Previously announced commitments to the project include Ann Taylor Loft, Aveda, Barnes & Noble, Belk, Best Buy, Carters, Champs Sports, Chico's, Cost Plus World Market, Dick's Sporting Goods, Jos. A Bank, Lane Bryant, Limited Too, Longhorn Steakhouse, New York & Company, Off Broadway, Osh Kosh B'Gosh, Romano's Macaroni Grill, Talbots, Ulta and White House/Black Market. With the new commitments, The Avenue Murfreesboro's 660,000-square-foot Phase I is more than 65 percent committed. "Reaching more than 65 percent committed with more than 10 months until grand opening underscores the tremendous retailer interest this project has seen," said Joel Murphy, president of Cousins' Retail Division. "Thanks to this successful start and an outstanding partner in Faison, we are very optimistic The Avenue Murfreesboro will carry this momentum into 2007." "Leasing momentum at The Avenue Murfreesboro continues to build and this early success means we can now concentrate on filling the gaps and creating a diverse retailer mix for the project," said Mike Cohn, senior managing director with Faison. "This dynamic and growing central Tennessee region deserves a top-notch retail environment and we're proud to deliver it with Cousins." The Avenue Murfreesboro is the centerpiece of 400 acres of a new master-planned commercial development, planned by landowner C.M. "Bill" Gatton, along newly-opened Medical Center Parkway, slated to include retail, office, hotel, convention center and public spaces. Medical Center Parkway connects the new Manson Pike interchange on I-24 with the City of Murfreesboro's Gateway project, plans for which include the new 300-bed Middle Tennessee Medical Center along with medical and professional offices. The Avenue concept, introduced by Cousins Properties in 1998, has been extremely well received by consumers and retailers alike. In contrast to a mall, these open-air, pedestrian friendly centers appeal to the discriminating and often time-constrained shopper looking for premier national retailers, select local merchants and specialty restaurants in a convenient setting. Cousins Properties has opened four Avenues in the Atlanta area, one in suburban Memphis, one in suburban Los Angeles and one in Melbourne, Fla. The Avenue Webb Gin in Atlanta's Gwinnett County became the seventh Avenue in the Cousins portfolio when it opened in August 2006. For more information about The Avenue, please visit www.theavenuealist.com Faison Enterprises, Inc. is a privately-held development company with a diversified product portfolio that includes retail, commercial and residential project development, management and acquisitions services. With more than 40 years in the business and holdings of approximately $1 billion, including $500 million of new projects under development, the Charlotte NC based company manages and develops properties throughout the South and Mid-Atlantic and maintains regional offices in Bethesda MD, Washington DC, Charlotte NC, Charleston SC, Atlanta GA, Orlando and Delray Beach, FL. For more information, visit www.faison.com. Cousins Properties Incorporated, headquartered in Atlanta, has extensive experience in the real estate industry including development, acquisition, financing, management and leasing. Cousins actively invests in office, multi-family, retail, industrial and land development projects. The Company's portfolio consists of interests in 7.1 million square feet of office space, 4.2 million square feet of retail space, 2 million square feet of industrial space, one multi-family residential project and 23 single-family neighborhood developments, over 9,200 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 14.9 million square feet of office and retail 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. Certain matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risks, including, but not limited to, general and local economic conditions, local real estate conditions, the activity of others developing competitive projects, the cyclical nature of the real estate industry, the financial condition of existing tenants, interest rates, the Company's ability to obtain favorable financing or zoning, environmental matters, the effects of terrorism, the failure of assets under contract for sale to ultimately close and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Report on Form 10-K for the year ended December 31, 2005. The words "believes," "expects," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in any forward-looking statement are reasonable, the Company can give no assurance that these plans, intentions or expectations will be achieved. Such forward-looking statements are based on current expectations and speak as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.