Cousins Properties announced the completion of its previously announced acquisition of Vantage South End, a 639,000 square foot lifestyle office property in Charlotte, North Carolina. The final purchase price for the property was $328.5 million.
This acquisition adds a highly-leased asset to Cousins' portfolio, with Vantage South End being 97% leased and having a weighted average lease term of over nine years. The property is located in the dynamic South End submarket of Charlotte.
The successful closing of this transaction reinforces Cousins Properties' strategy of investing in high-quality, amenity-rich office assets in growing Sun Belt markets. This move is expected to be immediately accretive to earnings and enhance the company's regional presence.
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