Cousins Announces More Retailers at the Avenue(R) Forsyth
April 28 2008 - 4:05PM
Business Wire
Cousins Properties Incorporated (NYSE: CUZ) announced today a new
list of retailers that have signed leases at The Avenue Forsyth, a
527,000-square-foot mixed-use development at the intersection of
Georgia 400 and Georgia 141 (Peachtree Parkway) in Forsyth County,
one of the U.S Census Bureau�s top 10 fastest growing counties for
2007. Construction of phase I of the project, which includes 64,000
square feet of office space, began in January 2007 and the project
will open on May 14. In addition, Cousins owns 39 adjacent acres
for future expansion of the project. The retailers with signed
leases at The Avenue Forsyth include Aeropostale, AMC Avenue
Forsyth 12, American Eagle, Ann Taylor Loft, Aria (Aveda), Avalon
Nails, Barnes & Noble, Bath & Body Works, Chico�s, The
Chocolaterie, Christopher and Banks, Circuit City, CJ Banks,
Claire�s, Coldwater Creek, Dreamy Gelato, DSW, Fuzzwig�s Candy
Factory, GameStop, GNC, Ichiban Steak & Sushi, J. Jill, Jos. A.
Bank, Lane Bryant, Lenscrafters, Limited Too, Little Azio,
MovieStop, Natural Body Spa & Shop, New York & Company,
Origins, Outside World, Rack Room Shoes, Relax the Back, Select
Comfort, Straw Dog, Stride Rite, Sunglass Hut, Surftown USA, Sweet
& Sassy, Tailgaters Alley, Talbots, Ted�s Montana Grill,
Victoria�s Secret, White House/Black Market and Yogurberry.
Outparcel leases include Chick-fil-A, Colonial Bank, CVS, Jim &
Nick�s BBQ, The Firkin & Crown, Red Robin and SunTrust. In
addition to these signed leases, there are additional retailer
commitments that bring the retail space in phase I to 70 percent
committed. �The quality of these retailer and restaurant
commitments speaks volumes about the dynamic and affluent trade
area around The Avenue Forsyth,� said Joel Murphy, president of
Cousins� Retail Division. �We look forward to bringing The Avenue
concept to the great communities that make Forsyth County such a
wonderful place to live, work, shop and dine.� The Avenue Forsyth
is Cousins� fifth Atlanta-area Avenue-concept center and the ninth
the Company has developed since 1998. 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
or has under construction five Avenues in the Atlanta area, one in
suburban Memphis, one in suburban Nashville and one in Viera, Fla.
For more information about The Avenue, please visit
www.shoptheavenue.com Celebrating its 50th anniversary in 2008,
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, multi-family, retail,
industrial and land development projects. Since its founding,
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 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
(including the overall condition of the residential market), the
activity of others developing competitive projects, the risks
associated with development projects (such as delay, cost overruns
and leasing/sales risk of new properties), 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 ability of the Company to close properties under
contract and other risks detailed from time to time in the
Company�s filings with the Securities and Exchange Commission,
including the Company�s Annual Report on Form 10-K for the year
ended December 31, 2007. 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.
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