Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Hines, Cousins Form JV for Nearly $100M ATL Development
Houston-based Hines and Atlanta-based Cousins Properties formed a joint venture to develop 10000 Avalon, a 251,000-square-foot Class A office building in Atlanta for a development cost anticipated to approach $100 million. Cousins holds a 90% ownership interest and Hines 10% in the joint venture, which has secured AXIS Reinsurance Co., a subsidiary of AXIS Capital Holdings Limited, as an anchor tenant with a 15-year, 76,000-square-foot lease.
10000 Avalon will be the second and final office building in Avalon, a mixed-use development in North Atlanta. The new building will be adjacent to Hines and Cousins’ successful 8000 Avalon office development that was delivered in June 2017, and is currently 98% leased.
Construction on 10000 Avalon is slated to commence this month, and initial occupancy is expected in early 2020.
CBRE’s Sam Holmes represented AXIS in the lease.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development