July 12, 2018 Comments Off on Hines, Cousins Form JV for Nearly $100M ATL Development Views: 2586 Georgia, National News, Southeast

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.

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