Atlanta-based diversified REIT Cousins Properties (NYSE: CUZ) has announced plans to sell its 524,000 sq. ft. Frost Bank Tower in Austin, Texas. CUZ president and chief executive officer Thomas Bell made the announcement during the company’s May 4 earnings conference.
The 33-story office tower is roughly 81% leased to a tenant roster that includes Frost Bank, Winstead Sechrest & Minick PC and Ernst & Young. CEO Bell also announced during the May 4 conference call that the firm would put the Bank of America Plaza, a 55-story Atlanta office tower, on the market. That property holds the distinction of being the tallest office tower in the southeast.