Cousins Properties Announces Full Building Lease with Fortune 100 Technology Company at The Domain in Austin
Rhea-AI Summary
Cousins Properties (NYSE: CUZ) has announced a significant lease agreement at The Domain in Austin. A Fortune 100 technology company has signed a 320,000 square foot lease for the entire Domain 12 property. This new tenant will take over the existing lease from Meta Platforms and extend the lease maturity from 2031 to 2040, effective January 1, 2026.
Domain 12, completed in 2020, is a lifestyle office property featuring amenities such as a café, outdoor terraces, fitness center, and bike storage. It's strategically located near The Domain's main dining and entertainment district. Notably, Cousins' Domain portfolio, totaling 2.5 million square feet, is currently over 99% leased.
Positive
- Secured a full building lease with a Fortune 100 technology company
- Extended lease maturity from 2031 to 2040, ensuring long-term occupancy
- Domain portfolio is over 99% leased, indicating strong demand
- New tenant replacing Meta Platforms, maintaining full occupancy
Negative
- None.
News Market Reaction
On the day this news was published, CUZ gained 0.50%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Domain 12, delivered in 2020, is located directly adjacent to The Domain's main dining and entertainment district. The lifestyle office property is equipped with its own café, outdoor terraces, fitness center, bike storage, and has direct access to numerous hiking and bike trails. Cousins' Domain portfolio is comprised of 2.5 million square feet and is currently over
"We are excited that our teams found a creative solution to welcome another global technology innovator to a trophy property in The Domain," said Colin Connolly, President and Chief Executive Officer of Cousins Properties. "The Domain provides a highly amenitized experience that leading companies recognize as a critical tool to drive employee recruitment, retention, and culture. We are thrilled to see growing customer demand for lifestyle office properties in
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in
CONTACT:
Roni Imbeaux
Vice President, Finance and Investor Relations
404-407-1104
rimbeaux@cousins.com
View original content:https://www.prnewswire.com/news-releases/cousins-properties-announces-full-building-lease-with-fortune-100-technology-company-at-the-domain-in-austin-302239030.html
SOURCE Cousins Properties
FAQ
What is the size of the new lease signed by Cousins Properties at The Domain in Austin?
When will the new lease at Domain 12 become effective for Cousins Properties (CUZ)?
How has the lease maturity changed for Domain 12 in Cousins Properties' (CUZ) portfolio?
What is the current occupancy rate of Cousins Properties' (CUZ) Domain portfolio in Austin?
