Cousins Joint Venture Begins Construction on 150,000-Square-Foot Mahan Village

Cousins Properties Incorporated (NYSE: CUZ), in partnership with Watkins Retail Group and New Horizon Retail Development, announced today it has started development on Mahan Village, an approximately 150,000-square-foot community shopping center located on a 19-acre site in Tallahassee, Fla. The development is estimated at approximately $25 million and is located at the intersection of Capital Circle and Mahan Drive, one of the busiest intersections in the City of Tallahassee.

“Mahan Village, with its strong infill location and first-rate anchor tenants, represents the perfect type of development for this point in the investment cycle,” said Michael Cohn, executive vice president of retail investments, leasing and asset management for Cousins Properties.

“We are very excited to partner with Cousins on another deal and think the extension of this relationship and redevelopment arena will be a desirable ongoing business model for both companies,” said W. Neal Freeman, President of Watkins Retail Group. CUZ Joint Venture Begins Construction

Mahan Village will be anchored by Publix Supermarket (45,600 square feet and scheduled to open November 2012) and Academy Sports & Outdoors (67,664 square feet and scheduled to open October 2012). The Publix Supermarket will be relocated and expanded from an existing, undersized store located directly across the street. In addition, the project will contain approximately 30,000 square feet of local shop and restaurant space. Mahan Village is 79% preleased.

Earlier this year, Cousins announced a partnership with Watkins Retail Group to develop Publix-anchored neighborhood shopping centers in Florida and Tennessee. This will be the second project the two companies have partnered.

About Cousins Properties

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 and retail projects. Since its founding in 1958, 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 press release are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risk and actual results may differ materially from projections. Readers should carefully review Cousins’ financial statements and notes thereto, as well as the risk factors described in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2010 and other documents Cousins files from time to time with the Securities and Exchange Commission. Such forward-looking statements are based on current expectations and speak as of the date of such statements. Cousins 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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