Cousins Properties Inc (NYSE:CUZ) Seeks To Establish A Site In Charlotte


Cousins Properties Inc (NYSE:CUZ) is a company that focuses in the provision of real estate services to clients. It makes investments in office buildings and in a number of states such as Florida and Phoenix. The investment trust seeks to establish a site in Charlotte.

A close outlook

The current CEO of Cousins Properties Inc Larry Gellerstedt gave a statement on Thursday during the company’s earnings call.The official disclosed that the company had plans underway to set up a new site in Charlotte.

Gellerstedt has provided an explanation regarding exactly what prompts the urge. A number of officials question whether or not it has enough land in most of its markets.

The official expresses great optimism that the latest undertaking will be a major success.

The current managing director of Cousins’ Charlotte office is called Mark Holoman. The official disclosed that at the moment they did not have a site under contract.

Holoman stated, “We have two or three (sites) around Charlotte that we are interested in. I would hope sometime in the next year that there would be some action, but these deals take a long time … we haven’t made an offer on anything (and) we do not have anything ready.”

The turn of events

The official outlines that they seek to achieve immense business growth. However, he lays emphasis to the exercising of high levels of business discipline. The company continues witnessing immense success as we progress. Currently sticks out as one of the major landlords in Charlotte. It owns quite a significant share of the central business district.

Charlotte grows stronger and stronger as we progress and analysts admit that it has been a great net absorption year.

Other reports indicate that QTS Realty Trust Inc (NYSE:QTS) channeled about $80 million to pay for the new property. The company acquired a 55-acre packaging plant in West Midtown.

Market observers applaud the company for its bold move. They see it as the first step towards the company ramping up its business growth in the state of Atlanta. They think that it is an achievement for the business to get to a point of expanding its megawatt capacity.

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