Cousins Properties
Cousins Properties is an American publicly traded real estate investment trust focused primarily on office properties.
Last updated August 25, 2026
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Overview
Cousins Properties Incorporated is an American real estate investment trust whose principal business is the ownership, development, acquisition, and management of office buildings. Its operating footprint is concentrated in selected U.S. growth markets, including Atlanta, Charlotte, Austin, Phoenix, Tampa, and Chapel Hill, North Carolina. Rather than functioning as a consumer-facing product brand, Cousins Properties operates as a commercial real estate platform whose identity is associated with office investment, urban development, and the stewardship of large-scale workplace assets. The company was founded in 1958 by Tom Cousins and became a public company through an initial public offering in 1962. During its early years, it established a presence in downtown Atlanta and expanded its development activity. In the 1970s, Cousins broadened beyond office development into regional malls, real estate finance, and insurance. Those activities were subsequently reduced as economic conditions weakened, leading the company back toward a more focused real estate strategy. Cousins has developed or been associated with several prominent Atlanta properties, including the CNN Center, Omni Coliseum, 191 Peachtree Tower, and Emory Point. These projects illustrate the company’s historical emphasis on significant urban or mixed-use developments as well as conventional office assets. Its development and investment approach has also extended into other metropolitan areas where it owns or operates office properties. A major corporate transformation occurred in 2016, when Cousins acquired Parkway Properties and separated Parkway’s Houston assets into a newly spun-off company, Parkway, Inc. The transaction expanded Cousins’ portfolio and reinforced its position as a multi-market office REIT while leaving Houston outside the core portfolio described in the company’s subsequent profile. As of December 31, 2024, Cousins Properties owned, either wholly or through joint ventures, 42 properties comprising approximately 20.6 million square feet of office space and 467,000 square feet of other space. The company’s present positioning is therefore that of a specialized office-property owner and developer serving institutional, corporate, and professional tenants in selected U.S. markets. Its history combines public-market real estate ownership, development of landmark properties, portfolio restructuring, and geographic concentration in office-oriented metropolitan markets.
History
Cousins Properties was established in 1958 by Tom Cousins. From its beginning, the company was connected with the development and ownership of commercial real estate, particularly in Atlanta. Its early expansion reflected the growth of the metropolitan office market and the increasing importance of downtown commercial construction. In 1962, Cousins became a public company through an initial public offering, giving it access to public capital for continued real estate activity. In 1965, the company constructed an office building in downtown Atlanta. Over time, Cousins participated in the creation and development of several high-profile Atlanta properties, including the CNN Center, Omni Coliseum, 191 Peachtree Tower, and Emory Point. These properties represent different phases and formats of commercial development, from major downtown projects to mixed-use or campus-oriented environments. During the 1970s, Cousins experimented with a broader business model. It expanded into regional shopping malls, real estate finance, and insurance in addition to its office and development activities. As the economy weakened, however, the company pared back these lines of business. This retrenchment helped return Cousins to a more concentrated real estate strategy and ultimately shaped its modern identity as an office-oriented property company. In 1987, Tom Cousins created the Cousins Foundation and funded it with stock in the company. The foundation became an institutional expression of the founder’s philanthropic activity while also marking the continuing connection between the Cousins family and the company’s corporate history. Leadership changed in 2002. Tom Cousins retired as chief executive officer but continued as chairman of the board. R. Dary Stone also left his positions as president and chief operating officer. Tom Cousins remained chairman through the end of 2006, when he retired from that role as well. Cousins continued to participate in development partnerships in the 2000s. In 2004, it partnered with Jim Wilson and Associates, Inc. on The Avenue at Carriage Crossing. The project reflected the company’s continuing willingness to use joint development arrangements and to participate in property formats beyond a single conventional office tower. The company’s most consequential later transaction was its 2016 acquisition of Parkway Properties. As part of the transaction, Parkway’s Houston assets were spun off into Parkway, Inc. The deal expanded Cousins’ property platform while reorganizing its geographic exposure and preserving a more focused portfolio for Cousins. Cousins Properties is now structured as a publicly traded REIT focused mainly on office buildings. It operates in Atlanta, Charlotte, Austin, Phoenix, Tampa, and Chapel Hill, North Carolina. At December 31, 2024, its wholly owned and joint-venture holdings consisted of 42 properties with approximately 20.6 million square feet of office space and 467,000 square feet of other space. Its historical trajectory is therefore defined by public-market financing, landmark urban development, periodic diversification and retrenchment, portfolio-scale acquisitions, and concentration in selected U.S. office markets.
- 2024
Portfolio reported at year-end
[1]The company reported 42 wholly owned or joint-venture properties, including 20.6 million square feet of office space.
- 2016
Parkway Properties acquisition and spinoff
[1]Cousins acquired Parkway Properties and spun off the acquired company’s Houston assets into Parkway, Inc.
- 2004
The Avenue at Carriage Crossing partnership
[1]Cousins entered a development partnership with Jim Wilson and Associates, Inc.
- 2002
Founder leaves chief executive role
[1]Tom Cousins retired as CEO, while R. Dary Stone left the president and COO positions.
- 1987
Cousins Foundation formed
[1]Tom Cousins established the Cousins Foundation and funded it with company stock.
- 1965
Downtown Atlanta office development
[1]The company built an office building in downtown Atlanta.
- 1962
Initial public offering
[1]Cousins Properties became a public company through an initial public offering.
- 1958
Company founded
[1]Tom Cousins founded Cousins Properties.
Products and positioning
A U.S. office-focused real estate investment trust and developer with a concentration in major Sun Belt and Southeastern markets.
Commercial real estate · 1958
Office properties
Office buildings are Cousins Properties’ core operating product. The company owns, develops, and manages office real estate in selected U.S. metropolitan markets, with assets held directly or through joint ventures. Its portfolio includes large urban and institutional-quality properties serving corporate and professional tenants.
Real estate development
Mixed-use and landmark developments
Cousins has developed or participated in prominent projects that combine office, retail, civic, entertainment, or other uses. Examples associated with the company include CNN Center, Omni Coliseum, 191 Peachtree Tower, and Emory Point. These projects represent the company’s role as a developer of major commercial environments rather than merely a passive property owner.
Retail and mixed-use development · 2004
The Avenue at Carriage Crossing
The Avenue at Carriage Crossing was developed through a 2004 partnership between Cousins Properties and Jim Wilson and Associates, Inc. It illustrates Cousins’ historical participation in retail-oriented development partnerships alongside its principal office business.
Brand decisions
2016
Acquisition of Parkway Properties and Houston asset spinoffM&ABackground
Cousins Properties pursued a major portfolio transaction involving Parkway Properties, expanding its office real estate platform while reorganizing the Houston assets.
Action taken
Cousins acquired Parkway Properties and spun off Parkway’s Houston assets into Parkway, Inc.
Aftermath
The transaction broadened Cousins’ portfolio and left the Houston properties in a separate company, supporting Cousins’ concentration in its selected office markets.
Recent events
- 2024
Cousins Properties reports a 42-property portfolio[1]
Other
At year-end, the company reported ownership, wholly or through joint ventures, of 42 properties totaling 20.6 million square feet of office space and 467,000 square feet of other space.
- 2016
Cousins Properties acquires Parkway Properties[1]
M&A
The company acquired Parkway Properties and spun off Parkway’s Houston assets into Parkway, Inc.
- 2004
Cousins partners on The Avenue at Carriage Crossing[1]
Product launch
Cousins Properties partnered with Jim Wilson and Associates to develop The Avenue at Carriage Crossing.
- 2002
Tom Cousins retires as chief executive officer[1]
Leadership change
Tom Cousins stepped down from the chief executive role while remaining chairman; R. Dary Stone also left the president and chief operating officer positions.
- 1987
Tom Cousins establishes the Cousins Foundation[1]
Other
Tom Cousins formed the Cousins Foundation and endowed it with company stock.
- 1970
Cousins expands beyond office development during the 1970s[1]
Other
During the decade, the company entered regional malls, real estate finance, and insurance before later reducing those activities as economic conditions softened.
- 1962
Cousins Properties becomes a public company[1]
Other
The company completed an initial public offering and began operating as a public company.
Sources1 sources
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