Cousins Properties announced that it plans to commence development of Domain 9, a 335,000 square foot office building in Austin, during the second quarter of 2021. The total project cost is anticipated to be approximately $147 million with delivery slated for mid-2023.
“Since our entry into the Domain submarket of Austin in 2019, demand for Class A office space from fast-growing, high-credit customers has only grown,” said Colin Connolly, President and Chief Executive Officer of Cousins Properties. “Commencing development of Domain 9 gives us the opportunity to continue to capture this demand. Our existing 2.1 million square foot Domain portfolio is 98% leased, and we have the ability to develop an additional 1.7 million square feet, including Domain 9, in the heart of the submarket.”
“Austin continues to exhibit some of the strongest job growth numbers in the country with record corporate relocations and expansions over the past year,” said Tim Hendricks, Senior Vice President and Managing Director of Cousins’ Austin office. “We are confident that Domain 9 will attract high-quality customers who are looking to grow in Austin and who value the unique combination of outdoor space and unrivaled amenities that the Domain offers.”
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousins.com.
Vice President, Finance and Investor Relations