Cousins Properties Incorporated (NYSE:CUZ) , the Atlanta, GA-based real estate investment trust (“REIT”) and Hines, the Houston, TX-based real estate firm announced that the global technology major – Microsoft Corp (NASDAQ:MSFT).– has inked a lease deal at 8000 Avalon. The 43,000 square-foot lease transaction signed at the 224,000 square foot Class A office development in Atlanta, GA, with Microsoft anchoring the office development, is likely to be accretive for Cousins Properties, going forward.
Notably, Cousins Properties and Hines signed a joint venture deal to develop the $72 million Class A office project which is presently under construction. Microsoft is expected to take the initial occupancy in second-quarter 2017. With this lease deal, 8000 Avalon is currently 19% leased.
Past Performance
Cousins Properties is engaged in the acquisition, ownership, development and management of upscale office and mixed-use properties throughout the Sunbelt markets of the U.S., with special focus on Georgia, Texas and North Carolina. Last month, the company reported first-quarter 2016 funds from operation (“FFO”) of 21 cents per share that missed the Zacks Consensus Estimate by a penny but remained flat year over year. Results reflected a decline in rental property revenues.
Zacks Rank & Stocks to Consider
The stock presently has a Zacks Rank #3 (Hold).
However, investors interested in the REIT sector can consider stocks like Brookfield Canada Office Properties BOXC, Summit Hotel Properties, Inc. (NYSE:INN) and W. P. Carey Inc. (NYSE:WPC) . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
BROOKFLD CDA OP (BOXC): Free Stock Analysis Report
COUSIN PROP INC (CUZ): Free Stock Analysis Report
WP CAREY INC (WPC): Free Stock Analysis Report
SUMMIT HOTEL PR (INN): Free Stock Analysis Report
Original post
Zacks Investment Research
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Cousins & Hines Ink Lease With Microsoft At 8000 Avalon
Published 06/07/2016, 10:05 PM
Updated 07/09/2023, 06:31 AM
Cousins & Hines Ink Lease With Microsoft At 8000 Avalon
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.