Cousins Properties Incorporated Signs General Electric to Major Lease in Atlanta.ATLANTA--(BUSINESS WIRE)--March 3, 1998--Cousins Properties Incorporated (NYSE NYSE See: New York Stock Exchange :CUZ CUZ Because cuz Cousin CUZ Cuzco, Peru - Tte Velazco Astete (Airport Code) ), one of the largest diversified real estate development companies in the U.S., today announced that GE Power Systems has signed a lease for 260,000 square feet, or 100%, of the recently completed 4200 Wildwood Wildwood, city (1990 pop. 4,484), Cape May co., SE N.J., on an island off Cape May; settled 1882, inc. as a city 1911. It has large commercial fisheries and is a popular summer seaside resort with many vintage motels and other buildings from the 1940s–60s. Parkway building in northwest Atlanta. GE Power Systems will begin taking delivery of the building in June. Cousins Properties Chairman and Chief Executive Officer Thomas G. Cousins said, "We're pleased to be adding this very important company to our existing roster of corporate customers at Wildwood and beginning what we hope will be a very successful, long-term relationship with General Electric. With this lease, our new 4200 building is 100% leased and Wildwood Office Park is 99% leased." 4200 Wildwood Parkway is a five-story office building in Wildwood Office Park, a 289-acre master-planned office development on Powers Ferry Road Ferry Road is one of the major roads of Edinburgh, Scotland, and is often referred to as an area in its own right. It runs from the eastern end of Davidson's Mains village in the west, to Leith in the east, passing through Goldenacre on the way. in northwest Atlanta. Currently there are eight buildings with a total of 2.4 million rentable square feet in the Wildwood development. Wildwood Associates, a 50/50 joint venture between Cousins Properties and IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , owns six of the buildings totaling 2.1 million square feet. Other major tenants at Wildwood include IBM, Coca-Cola Enterprises Coca-Cola Enterprises NYSE: CCE is the largest bottler by volume in the Coca-Cola System. It is the anchor bottler for North America and parts of Europe. The company is the bottler of Coca-Cola and its other soft drink products, and in some areas a few other soft drink , Chevron, Price Waterhouse and Champion International. The project is located in the northwest Atlanta office market near the intersection of Interstates 75 and 285 and borders the Chattahoochee National Park. The leased rate for office space in the 18.3 million square foot northwest office market was 92% as of December 31, 1997. The office park contains 183 acres of entitled property for future development. Cousins is a fully integrated equity real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) that has been public since 1962 and trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "CUZ." Based in Atlanta, Cousins 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, retail, medical office and land development projects. The Company's portfolio consists of more than 7.7 million square feet of office space, 3.1 million square feet of retail space, .2 million square feet of medical office space, and over 450 acres of land for future development. CONTACT: Cousins Properties, Atlanta Mark B. Riley, 770/857-2507 or Lisa R. Simmons, 770/857-2548 Web Site address: www.cousins-cuz.com |
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