Up To 128 Cousins Professionals Will Join C&W, Expanding Its Client Services In Atlanta and Dallas
Atlanta-based Cousins Properties Inc. (NYSE: CUZ
) has agreed to sell its client services business to Cushman & Wakefield.
The Client Services Group (CSG) provides third-party services such as leasing, property management and project management to office landlords in Atlanta and Dallas. Cousins Properties will continue to own and operate fee business that is not associated with CSG.
Under the agreement, up to 128 professionals will transition from Cousins to Cushman & Wakefield, providing services for clients supported by Cushman & Wakefield’s Investor Services and Leasing groups in Dallas and Atlanta. The transaction is expected to close by the end of the year.
Larry Gellerstedt, president and CEO of Cousins Properties, said the transaction "not only ensures that our clients will be part of a broad global platform and can leverage all of the benefits that come with it, but is also consistent with Cousins’ strategic goal of simplification and a heightened focus on our core business."
Cousins Properties is a diversified REIT engaged in acquisition, financing, management and leasing, investing in office and retail projects. Since 1958, Cousins has developed 20 million square feet of office space
, 20 million square feet of retail space
, more than 3,500 multifamily units and more than 60 single-family neighborhoods.