CONTACT:
Cameron Golden
Director of Investor Relations/Corporate Communications
404) 407-1984
camerongolden@cousinsproperties.com
Atlanta – Dec. 7th, 2009 – Cousins Properties Inc. (NYSE: CUZ) announced today that Terminus 200, the newest phase of the 9.9 acre mixed-use Terminus development in Buckhead, has earned Leadership in Energy and Environmental Design for Core & Shell (LEED® CS) Gold certification from the U.S. Green Building Council (USGBC). Cousins’ achievement of LEED CS puts future tenants one step ahead in the pursuit to individually obtain LEED for Commercial Interiors (LEED CI) certification.
Terminus 200’s status as a LEED-CS Gold building will directly impact tenants’ bottom line. According to the USGBC, LEED certified projects cost less to operate and maintain; have significantly lower utility costs; improve tenant retention; are energy and water efficient; and have higher lease-up rates than conventional buildings in their markets. In fact, green buildings have 13 percent lower maintenance costs, 27 percent higher occupant satisfaction and consume 26 percent less energy than conventional buildings.
Designed to obtain LEED Gold certification, Terminus 200 achieved all LEED points pursued. Green features in Terminus 200 that contributed to the building’s LEED Gold status include:
- The office tower is constructed of 20 percent recycled content and certified wood products;
- Windows and workspaces are designed to maximize daylighting for employees;
- The building provides pedestrian accessibility to mass transit, including MARTA, as well as availability of parking for van and carpools as well as low-emission vehicles;
- The use of building materials with low volatile organic compounds (VOC) enhance indoor air quality;
- Building materials manufactured nearby support the local and regional economy and reduce emissions related to the transport of materials;
- Low-flow fixtures and appliances reduce water use by 40 percent compared to typical usage, saving 1.5 million gallons of water per year;
- To help prevent further emission of carbon dioxide to power the building, Cousins has also purchased a two-year contract from Renewable Choice Energy to supply wind power.
The project also received an exemplary performance commendation from the USGBC for its use of open space and pedestrian areas at street level – a differentiator in the bustling Buckhead office submarket. Cousins’ achievement of LEED CS positions Terminus 200 tenants to readily build interiors to LEED CI specifications. Upon signing a lease at Terminus 200, tenants will be encouraged to build interiors to LEED specifications with guidance from Cousins. To facilitate LEED certification, each new tenant will receive a guide to obtaining LEED CI with tips, a score card and consulting services from the development and property management team.
“This certification further illustrates Cousins’ ongoing commitment to sustainability,” said Larry Gellerstedt, CEO of Cousins. “We’re excited to have Terminus 200 provide a cornerstone for the many tenants and potential tenants who have made their own commitment to sustainable growth.”
Developed by a joint venture of Cousins and Prudential Real Estate Investors, Terminus 200 is a 25-story, 564,000-square-foot tower of Class A office space, retail, and restaurant space. Cousins realized a significant victory in the competitive Buckhead submarket when mobile banking technology company Firethorn Holdings LLC signed a 50,000-square-foot lease at Terminus 200 in June.
About Terminus
Launched by Cousins in 2006, Terminus is a 9.9-acre, mixed-use development at the intersection of Piedmont Road and Peachtree Street in Atlanta that features high-rise homes, office towers and more than 70,000 square feet of retail. 10 Terminus Place, one of three buildings at Terminus, is a 32-story luxury condominium tower with 137 units that opened in fall of 2008. The development also includes Terminus 100, a 27-story building that offers Class A office space, unmatched amenities and spectacular views of Atlanta. In September 2009, Terminus 200 opened with 564,000 square feet of office, retail, and restaurant space. 10 Terminus Place, Terminus 100 and Terminus 200 comprise a landmark urban community that redefines upscale living by merging fashion-forward boutiques, four-star dining, the highest quality office space and stunning high-rise homes into one prestigious destination.
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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, multi-family, retail and land development 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.
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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 risk. These include, but are not limited to, general and local economic conditions (including the current general recession and state of the credit markets), local real estate conditions (including the overall condition of the residential markets), 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 those described in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2008. 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.