Benzinga | Sep 29, 2021 10:06AM EDT

Cousins Properties Announces Lease With Visa At 1200 Peachtree Building In Midtown Atlanta

Cousins Properties (NYSE:CUZ) announced today that Visa (NYSE:V) has signed a long-term, approximately 123,000 square foot lease at 1200 Peachtree in Midtown Atlanta. Visa, a world leader in digital payments, is expected to create approximately 1,000 new jobs in the region over the next several years as it establishes a permanent office presence in the Atlanta market. Initial occupancy is expected during the fourth quarter of 2022.

"We are excited to see a financial technology leader like Visa focused on creating an exciting office environment for in-person collaboration," said Colin Connolly, President and Chief Executive Officer of Cousins. "Atlanta continues to attract large and growing companies recruiting new talent. The central location, proximity to renowned research institutions and accessibility that 1200 Peachtree offers is compelling for companies interested in the Midtown submarket."

Cousins acquired 1200 Peachtree in 2019 from Norfolk Southern Corporation (NYSE:NSC) as part of a larger transaction that included Cousins' development of Norfolk Southern's new headquarters in Midtown Atlanta. When Norfolk Southern moves out of 1200 Peachtree and into its new building at the end of this year, Cousins will reposition the property for multi-customer use. This redevelopment will include a complete renovation of the ground floor creating both indoor and outdoor amenities and taking advantage of the building's outstanding location within the Midtown Atlanta submarket.