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Cousins (CUZ) and Hines Ink Lease with Spaces at 8000 Avalon
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Cousins Properties Incorporated (CUZ - Free Report) and Hines announced that Spaces, Regus’ flexible workspace concept has inked a 34,000-square foot, 11-year lease at 8000 Avalon. Notably, 8000 Avalon is a 224,000 square foot Class A office development in Atlanta, GA. With the addition of Spaces, 8000 Avalon is now 40% leased.
Atlanta, GA-based Cousins Properties is a real estate investment trust (REIT) in the U.S. The company 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.
Hines is a global real estate investment firm with a presence in 182 cities in 20 countries. Hines and Cousins entered into a joint venture to develop 8000 Avalon, the $73 million project, which is currently under construction.
Spaces carries an innovative concept that emphasizes on the social aspect of the flexible workspace industry. It adds a unique aspect to 8000 Avalon and the entire mixed-use district by providing meeting rooms and co-working spaces for the business owners and entrepreneurs.
Currently, Cousins Properties carries a Zacks Rank #3 (Hold).
Shares of Cousins Properties underperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. During this time, shares of the company declined 1.2%, whereas the industry gained 0.7%.
In the last 30 days, Global Net Lease’s FFO per share for first-quarter 2017 remained unchanged at 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 6.5% to $1.14, in the last 30 days.
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. All EPS numbers presented in this write up represent FFO per share.
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Cousins (CUZ) and Hines Ink Lease with Spaces at 8000 Avalon
Cousins Properties Incorporated (CUZ - Free Report) and Hines announced that Spaces, Regus’ flexible workspace concept has inked a 34,000-square foot, 11-year lease at 8000 Avalon. Notably, 8000 Avalon is a 224,000 square foot Class A office development in Atlanta, GA. With the addition of Spaces, 8000 Avalon is now 40% leased.
Atlanta, GA-based Cousins Properties is a real estate investment trust (REIT) in the U.S. The company 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.
Hines is a global real estate investment firm with a presence in 182 cities in 20 countries. Hines and Cousins entered into a joint venture to develop 8000 Avalon, the $73 million project, which is currently under construction.
Spaces carries an innovative concept that emphasizes on the social aspect of the flexible workspace industry. It adds a unique aspect to 8000 Avalon and the entire mixed-use district by providing meeting rooms and co-working spaces for the business owners and entrepreneurs.
Currently, Cousins Properties carries a Zacks Rank #3 (Hold).
Shares of Cousins Properties underperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. During this time, shares of the company declined 1.2%, whereas the industry gained 0.7%.
Investors interested in the REIT space may consider stocks like Global Net Lease, Inc. (GNL - Free Report) , CoreSite Realty Corporation (COR - Free Report) and CorEnergy Infrastructure Trust, Inc. . Each of these stocks carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, Global Net Lease’s FFO per share for first-quarter 2017 remained unchanged at 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 6.5% to $1.14, in the last 30 days.
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. All EPS numbers presented in this write up represent FFO per share.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>