Cousins Acquires 638,000‑SF 300 South Tryon in Uptown Charlotte for $317.5M

Uptown Expansion: Cousins Moves into 300 South Tryon

Acquisition bolsters Charlotte footprint amid tight supply

Cousins Properties is expanding its Charlotte presence with the off‑market purchase of 300 South Tryon, a 638,000‑square‑foot lifestyle office building in Uptown, for $317.5 million. Built in 2017, the asset is fully leased and carries a weighted average lease term of six years, which Cousins says provides durable cash flow and diversification for its Sun Belt office portfolio.

The company describes the deal as immediately accretive to earnings and complementary to its Charlotte growth strategy. Chief Executive Colin Connolly frames the timing as ideal, citing virtually no new supply, strengthening occupancy trends and rapid rent growth for lifestyle office product in the market. Cousins is acquiring a relatively new, fully occupied trophy asset that it believes will enhance near‑term earnings and strengthen future cash flows.

Operationally, the purchase increases Cousins’ exposure to Class A office space in a high‑growth submarket and fits its strategy of owning and managing marquee properties in Sun Belt markets. The firm highlights the property’s development vintage, lease profile and location as factors that support income stability even as broader office fundamentals evolve.

Funding mix and asset dispositions

Cousins plans to finance the transaction with a combination of proceeds from non‑core asset sales, debt financing and potential settlement of common shares previously issued on a forward basis under its at‑the‑market program. The company is under contract to sell Harborview Plaza in Tampa and a Charlotte land parcel at 303 Tremont, targeting combined gross proceeds of $63.2 million to help fund the purchase.

Corporate profile and investor access

Founded in 1958 and operating through Cousins Properties LP, the Atlanta‑based REIT focuses on development, acquisition, leasing and management of Class A office buildings in high‑growth Sun Belt markets. The company identifies Roni Imbeaux, senior vice president of finance and investor relations, as a press contact and directs interested parties to the Investors page on its website for an acquisition presentation and additional disclosure.