CUZ Sells North Point Office Park
Cousins has unloaded an Alpharetta office building to help fund its development pipeline. The Atlanta real estate firm announced that it sold North Point Center East, a four-building, 542k SF office campus next to North Point Mall that's home to Merrill Lynch Wealth Management and Medassets, for $92.3M, or more than $170/SF.
We first reported the firm's plans to sell the campus—along with The Points of Waterview in Dallas, which also sold—last summer. "With these sales complete, our development pipeline is fully funded," said Cousins CEO Larry Gellerstedt in a press release.
Cousins previously disclosed its development pipeline to include NCR Corp's build-to-suit HQ in Midtown; the $45M Research Park V development in Austin; Carolina Square—a $123M mixed-use project in Chapel Hill; and the build-to-suit for Dimensional Fund Advisors in Charlotte, which will house a 235k SF East Coast regional HQ for the financial firm.