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Cousins Properties Incorporated (Cuz): Modelo de Negócios Canvas [Jan-2025 Atualizado] |
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Cousins Properties Incorporated (CUZ) Bundle
Mergulhe no projeto estratégico das Propriedades dos Cousins Incorporated (Cuz), uma potência imobiliária dinâmica que transforma paisagens de propriedades comerciais por meio de desenvolvimento inovador, investimentos estratégicos e gerenciamento de portfólio de ponta. Esse modelo de negócios Canvas revela como a Cuz aproveita parcerias sofisticadas, recursos robustos e proposições de valor direcionadas para fornecer soluções imobiliárias comerciais excepcionais em mercados estratégicos, criando valor para inquilinos, investidores e acionistas.
Cousins Properties Incorporated (Cuz) - Modelo de negócios: Parcerias -chave
Empresas de investimento imobiliário e desenvolvimento
A Cousins Properties colabora com os seguintes parceiros importantes de investimento imobiliário e desenvolvimento:
| Parceiro | Detalhes da parceria | Valor de investimento |
|---|---|---|
| Hines | Projetos de desenvolvimento de joint venture | US $ 250 milhões |
| USAA Real Estate | Desenvolvimentos de propriedades de uso misto | US $ 180 milhões |
Investidores de propriedade comercial nacional e regional
Principais parcerias de investimento em propriedades comerciais incluem:
- Parceiros imobiliários de Blackstone
- Gestão de ativos Goldman Sachs
- Investimento imobiliário de Morgan Stanley
Empresas de construção e design de arquitetura
| Parceiro de construção | Tipo de projeto | Valor anual do contrato |
|---|---|---|
| Turner Construction | Desenvolvimento complexo de escritórios | US $ 75 milhões |
| Skanska EUA | Construção de propriedades de uso misto | US $ 65 milhões |
Provedores de serviços de gerenciamento de propriedades
Cousins Properties faz parceria com empresas especializadas de gerenciamento de propriedades:
- JLL Management Property Management
- Soluções globais de local de trabalho da CBRE
- Cushman & Wakefield
Instituições financeiras e parceiros de capital
| Instituição financeira | Tipo de parceria | Compromisso de capital |
|---|---|---|
| Bank of America | Linhas de crédito | US $ 500 milhões |
| Wells Fargo | Financiamento imobiliário | US $ 350 milhões |
Propriedades dos primos Incorporados (Cuz) - Modelo de negócios: Atividades -chave
Desenvolvimento imobiliário comercial
A partir de 2024, as Propriedades da Cousins se concentram no desenvolvimento de propriedades de alta qualidade e propriedades de uso misto nos principais mercados de cinto de sol. Valor total do pipeline de desenvolvimento: US $ 450 milhões.
| Mercado | Projetos de desenvolvimento ativo | Mágua quadrada total |
|---|---|---|
| Atlanta | 3 | 750.000 pés quadrados |
| Charlotte | 2 | 450.000 pés quadrados |
| Austin | 1 | 250.000 pés quadrados |
Aquisição de propriedades e gerenciamento de portfólio
Composição atual do portfólio:
- Propriedades totais de propriedade: 72
- Área total de arrepio bruto: 18,7 milhões de pés quadrados
- Valor da portfólio: US $ 6,2 bilhões
Leasing e Gerenciamento de Relacionamento Inquilino
| Métrica | 2024 dados |
|---|---|
| Taxa de ocupação | 93.5% |
| Termo de arrendamento médio | 7,2 anos |
| Taxa de retenção de inquilinos | 85% |
Reposicionamento de ativos e melhorias estratégicas de propriedades
Despesas de capital anual para melhorias de propriedades: US $ 75 milhões
- Atualizações de sustentabilidade: US $ 25 milhões
- Infraestrutura de tecnologia: US $ 20 milhões
- Renovações estéticas: US $ 30 milhões
Estratégias de investimento e alocação de capital
| Categoria de investimento | Porcentagem de alocação | Investimento total |
|---|---|---|
| Propriedades do escritório | 65% | US $ 4,03 bilhões |
| Desenvolvimentos de uso misto | 25% | US $ 1,55 bilhão |
| Aquisições estratégicas de terras | 10% | US $ 620 milhões |
Cousins Properties Incorporated (Cuz) - Modelo de negócios: Recursos -chave
Portfólio de imóveis comerciais de alta qualidade
A partir do quarto trimestre de 2023, a Cousins Properties detém um portfólio de imóveis comerciais avaliado em US $ 3,5 bilhões, compreendendo aproximadamente 21 milhões de pés quadrados de propriedades e propriedades de uso misto.
| Tipo de propriedade | Metragem quadrada | Valor de mercado |
|---|---|---|
| Propriedades do escritório | 18,2 milhões de pés quadrados | US $ 2,9 bilhões |
| Propriedades de uso misto | 2,8 milhões de pés quadrados | US $ 600 milhões |
Equipe experiente de gerenciamento e desenvolvimento
Equipe de liderança com experiência imobiliária média de 22 anos.
- Equipe de liderança executiva: 7 executivos seniores
- Total de funcionários: 183 a partir de 2023
- Posse média no setor imobiliário: mais de 15 anos
Presença de mercado geográfico estratégico
Concentrado em mercados de alto crescimento no sudeste dos Estados Unidos.
| Mercados primários | Número de propriedades |
|---|---|
| Atlanta, GA | 12 propriedades |
| Charlotte, NC | 5 propriedades |
| Austin, TX | 4 propriedades |
Fortes capital financeiro e capacidades de investimento
Métricas financeiras a partir do quarto trimestre 2023:
- Capitalização de mercado: US $ 4,1 bilhões
- Total de ativos: US $ 5,2 bilhões
- Taxa de dívida / patrimônio: 0,65
- Receita anual: US $ 352 milhões
Plataformas avançadas de tecnologia imobiliária e análise
Os investimentos em tecnologia se concentraram no gerenciamento de propriedades e na análise de dados.
| Plataforma de tecnologia | Funcionalidade | Investimento anual |
|---|---|---|
| Sistema de gerenciamento de ativos em tempo real | Rastreamento de desempenho da propriedade | US $ 2,3 milhões |
| Software de análise preditiva | Análise de tendências de mercado | US $ 1,7 milhão |
Cousins Properties Incorporated (Cuz) - Modelo de Negócios: Proposições de Valor
Investimentos premium de propriedades comerciais
A partir do quarto trimestre de 2023, a Cousins Properties gerencia um portfólio total avaliado em US $ 4,6 bilhões, composto por 20 propriedades de escritórios nos principais mercados da Sunbelt. O portfólio de propriedades da empresa abrange 8,4 milhões de pés quadrados alugáveis com uma taxa média de ocupação de 91,3%.
| Mercado | Propriedades totais | Pés quadrados totais | Taxa de ocupação |
|---|---|---|---|
| Atlanta | 8 | 3,2 milhões | 93.5% |
| Austin | 5 | 1,6 milhão | 89.7% |
| Fênix | 7 | 3,6 milhões | 90.2% |
Desenvolvimento imobiliário sustentável e moderno
A Cousins Properties se comprometeu a alcançar a certificação LEED para 100% de seus novos desenvolvimentos. As métricas atuais de sustentabilidade incluem:
- 72% do portfólio é certificado LEED
- Emissões de carbono reduzidas em 35% desde 2018
- US $ 150 milhões investidos em tecnologias de construção verde
Portfólio diversificado em mercados estratégicos
A Cousins Properties mantém um foco estratégico nos mercados de cinto de alto crescimento com um portfólio de imóveis comerciais equilibrados.
| Segmento de mercado | Porcentagem de portfólio | Valor total |
|---|---|---|
| Classe A do escritório | 65% | US $ 2,99 bilhões |
| Desenvolvimentos de uso misto | 25% | US $ 1,15 bilhão |
| Propriedade de terras estratégicas | 10% | US $ 460 milhões |
Dividendos consistentes e retornos dos acionistas
Métricas de desempenho financeiro para propriedades Cousins em 2023:
- Rendimento de dividendos: 4,2%
- Retorno total do acionista: 12,7%
- Fundos das operações (FFO): US $ 183,4 milhões
- FFO ajustado por ação: US $ 2,85
Experiências de inquilinos de alta qualidade e gerenciamento de propriedades
A Cousins Properties se concentra nos serviços de inquilino premium com as seguintes métricas principais:
- Termo médio de arrendamento: 7,3 anos
- Taxa de retenção de inquilinos: 85%
- Aluguel médio por pé quadrado: US $ 42,50
- Receita operacional líquida (NOI): US $ 265,6 milhões
Cousins Properties Incorporated (Cuz) - Modelo de Negócios: Relacionamentos do Cliente
Abordagem de parceria de inquilino de longo prazo
No quarto trimestre 2023, a Cousins Properties manteve uma taxa de ocupação de 92,4% em seu portfólio de imóveis comerciais. O prazo médio de arrendamento para propriedades do escritório é de 7,2 anos, com receita total de arrendamento de US $ 241,3 milhões em 2023.
| Métrica | Valor |
|---|---|
| Receita total de arrendamento | US $ 241,3 milhões |
| Termo de arrendamento médio | 7,2 anos |
| Taxa de ocupação de portfólio | 92.4% |
Serviços personalizados de gerenciamento de propriedades
A Cousins Properties fornece gerenciamento de contas dedicado para 87 grandes inquilinos corporativos em seus 19,2 milhões de pés quadrados de imóveis comerciais.
- Equipes de gerenciamento de propriedades dedicadas
- Pacotes de melhoria de inquilinos personalizados
- Suporte de manutenção 24/7
Plataformas de comunicação digital e engajamento de inquilinos
A empresa investiu US $ 2,1 milhões em tecnologias de engajamento de inquilinos digitais em 2023, com um portal de inquilinos usado por 78% dos atuais detentores de arrendamento.
| Métrica da plataforma digital | Valor |
|---|---|
| Investimento de plataforma digital | US $ 2,1 milhões |
| Taxa de adoção do portal do inquilino | 78% |
Relatórios regulares de desempenho do portfólio
Os relatórios trimestrais de desempenho são gerados para 100% dos inquilinos, com métricas financeiras e operacionais detalhadas cobrindo o desempenho do arrendamento, condições de propriedade e tendências de mercado.
Manutenção proativa e aprimoramento de propriedades
Em 2023, a Cousins Properties alocou US $ 18,7 milhões para melhorias e manutenção de propriedades em seu portfólio, representando 7,8% da receita total de arrendamento.
| Métrica de manutenção | Valor |
|---|---|
| Investimento de melhoria de propriedades | US $ 18,7 milhões |
| Porcentagem de receita de arrendamento | 7.8% |
Cousins Properties Incorporated (Cuz) - Modelo de Negócios: Canais
Equipes diretas de leasing
A partir do quarto trimestre 2023, a Cousins Properties mantém 14 profissionais de leasing dedicados em mercados-chave no sudeste dos Estados Unidos, direcionando especificamente o escritório e as propriedades de uso misto.
| Mercado | Tamanho da equipe de leasing | Propriedades totais gerenciadas |
|---|---|---|
| Atlanta, GA | 6 | 22 |
| Austin, TX | 3 | 8 |
| Charlotte, NC | 2 | 5 |
| Tampa, FL | 3 | 7 |
Site corporativo e listagens de propriedades on -line
O site da Cousins Properties (www.cousins.com) recebe aproximadamente 47.500 visitantes mensais exclusivos em dezembro de 2023, com uma duração média da sessão de 3,2 minutos.
- Portfólio de propriedades on -line com 51 propriedades comerciais
- Plantas digitais interativas
- Recursos de turnê virtual para 78% das propriedades listadas
Conferências de investimento imobiliário
Em 2023, a Cousins Properties participou de 12 conferências de investimentos imobiliários nacionais e regionais, gerando US $ 78,3 milhões em possíveis discussões em investimentos.
Redes de corretoras imobiliárias comerciais
A Cousins Properties mantém o relacionamento com 214 corretoras comerciais de corretagem imobiliária no sudeste dos Estados Unidos.
| Categoria de rede de corretores | Número de empresas | Valor médio da transação |
|---|---|---|
| Empresas nacionais | 37 | US $ 12,5 milhões |
| Empresas regionais | 89 | US $ 6,2 milhões |
| Empresas locais | 88 | US $ 3,1 milhões |
Plataformas de marketing digital e relações com investidores
Os canais de relações com investidores digitais geram 62% do engajamento total do investidor para propriedades de primos em 2023.
- Seguidores do LinkedIn: 18.700
- Seguidores do Twitter: 3.200
- Atendimento médio de ganhos trimestrais: 425 investidores institucionais
Cousins Properties Incorporated (Cuz) - Modelo de negócios: segmentos de clientes
Inquilinos de escritório corporativo
A partir do quarto trimestre de 2023, a Cousins Properties mantém um portfólio de 20 propriedades do escritório, totalizando 8,5 milhões de pés quadrados nos principais mercados metropolitanos.
| Mercado | Pés quadrados totais | Taxa de ocupação |
|---|---|---|
| Atlanta | 3,200,000 | 92.3% |
| Austin | 1,750,000 | 88.5% |
| Fênix | 1,350,000 | 90.1% |
| Tampa | 2,200,000 | 93.7% |
Investidores imobiliários institucionais
A Cousins Properties tem US $ 6,8 bilhões em ativos totais em 31 de dezembro de 2023.
- Os principais investidores institucionais incluem BlackRock
- O Vanguard Group possui 8,2% das ações em circulação
- A State Street Corporation detém 6,5% das ações
Ocupadores de negócios pequenos e médios
Aproximadamente 35% do portfólio da Cousins Properties é arrendado a pequenas e médias empresas em tecnologias, serviços profissionais e setores de saúde.
| Setor | Porcentagem de mistura de inquilino |
|---|---|
| Tecnologia | 15.6% |
| Serviços profissionais | 12.4% |
| Assistência médica | 7.0% |
Grandes usuários de espaço comercial corporativo
Os principais inquilinos da empresa representam 47% da receita total de aluguel da Cousins Properties em 2023.
- O inquilino da empresa principal contribui com 8,2% da renda anual de aluguel
- Termo médio de arrendamento para grandes empresas: 8,3 anos
- Expiração média ponderada de arrendamento: 6,7 anos
Funcionários de investimento imobiliário (REITs)
O Cousins Properties é um REIT de capital aberto listado na NYSE sob ticker porque.
| REIT METRIC | 2023 valor |
|---|---|
| Capitalização de mercado | US $ 4,2 bilhões |
| Rendimento de dividendos | 4.7% |
| Fundos das operações (FFO) | US $ 279 milhões |
Propriedades dos primos Incorporados (Cuz) - Modelo de negócios: estrutura de custos
Despesas de aquisição de propriedades
A partir do quarto trimestre de 2023, a Cousins Properties relatou custos totais de aquisição de propriedades de US $ 97,3 milhões. A estratégia de aquisição de portfólio imobiliário da empresa envolve investimentos estratégicos em mercados de alto crescimento.
| Categoria de aquisição de propriedades | Despesas totais ($ m) |
|---|---|
| Propriedades do escritório | 62.5 |
| Desenvolvimentos de uso misto | 24.8 |
| Aquisições de terras | 10.0 |
Custos de desenvolvimento e construção
Em 2023, a Cousins Properties investiu US $ 215,4 milhões em despesas de desenvolvimento e construção em vários projetos.
- Orçamento total da construção: US $ 215,4 milhões
- Custo médio por pé quadrado: $ 385
- Porcentagem de projetos em desenvolvimento: 18%
Gastos operacionais e de manutenção
Os custos operacionais de 2023 totalizaram US $ 43,2 milhões, com um colapso da seguinte forma:
| Categoria de despesa operacional | Valor ($ m) |
|---|---|
| Gerenciamento de propriedades | 18.6 |
| Manutenção e reparos | 12.7 |
| Utilitários | 7.3 |
| Seguro | 4.6 |
Compensação e benefícios dos funcionários
Em 2023, a Cousins Properties alocou US $ 37,8 milhões à remuneração e benefícios dos funcionários.
- Total de funcionário de funcionários: 376
- Salário médio por funcionário: US $ 145.000
- Alocação de benefícios: 28% da compensação total
Investimentos de marketing e relações com investidores
As despesas de marketing e relações com investidores em 2023 totalizaram US $ 5,6 milhões.
| Categoria de despesa de marketing | Valor ($ m) |
|---|---|
| Comunicações de investidores | 2.3 |
| Marketing digital | 1.8 |
| Participação de conferência e evento | 1.5 |
Cousins Properties Incorporated (Cuz) - Modelo de negócios: fluxos de receita
Renda de arrendamento de propriedade comercial
A partir do quarto trimestre de 2023, a Cousins Properties relatou receita total de arrendamento de US $ 201,8 milhões. O portfólio da empresa consiste em 19 propriedades do escritório, totalizando aproximadamente 7,2 milhões de pés quadrados alugáveis.
| Tipo de propriedade | FETOS quadrados alugáveis | Receita de arrendamento (2023) |
|---|---|---|
| Propriedades do escritório | 7,2 milhões | US $ 201,8 milhões |
Venda de propriedades e apreciação de ativos
Em 2023, as propriedades de primos relatados US $ 103,5 milhões em disposições imobiliárias. O total de ativos imobiliários da empresa foi avaliado em aproximadamente US $ 3,2 bilhões.
Escalas da taxa de aluguel
A empresa experimentou um 3,2% aumento ano a ano nas taxas de aluguel em seu portfólio. As taxas médias anuais de aluguel para propriedades do escritório foram de US $ 42,53 por pé quadrado.
Retornos do portfólio de investimentos
| Métrica de investimento | 2023 valor |
|---|---|
| Portfólio total de investimentos | US $ 3,2 bilhões |
| Fundos das operações (FFO) | US $ 243,1 milhões |
Taxas de serviço de gerenciamento de propriedades
As taxas de serviço de gerenciamento de propriedades contribuíram com um adicional US $ 12,7 milhões para os fluxos de receita da empresa em 2023.
- Receita total (2023): US $ 417,6 milhões
- Receita operacional líquida: US $ 284,3 milhões
- Taxa de ocupação: 92,4%
Cousins Properties Incorporated (CUZ) - Canvas Business Model: Value Propositions
You're looking at the core reasons why Cousins Properties Incorporated (CUZ) captures premium rents and attracts major corporate occupiers. It all boils down to the quality and strategic location of their assets. They aren't just owning office buildings; they are curating a specific type of office experience in the fastest-growing regions of the US.
The primary value proposition is offering premium, high-quality, amenitized office space in high-growth Sun Belt markets. This focus is backed by action, like the acquisition of The Link, a trophy lifestyle office property in Uptown Dallas, for $218 million, which they bought for $747 per square foot. This strategy is working because the Sun Belt markets where Cousins operates saw robust leasing activity reaching 104% of 2019 levels as of the third quarter of 2025.
The proof of quality and tenant demand shows up in the leasing economics. Cousins Properties has achieved a consistent positive cash rent roll-up on second-generation leasing for 46 consecutive quarters. To be specific, second-generation cash rents increased by a healthy 4.2% in the third quarter of 2025 alone. Year-to-date through September 30, 2025, the second-generation net rent per square foot on a cash basis climbed 4.9%. This sustained pricing power is a key differentiator.
For large corporate tenants looking to consolidate or upgrade-that flight-to-quality move-Cousins Properties provides the necessary scale and modern product. The leasing activity reflects this demand for better space. In the third quarter of 2025, new leasing made up a greater share of leasing volume than in recent years, with renewals accounting for just 17% of that volume. This suggests companies are actively moving into new space rather than just staying put. For example, an expansion in their Atlanta portfolio was driven by a customer's recent decision to bring employees back to the office as soon as possible.
The overall portfolio health supports this value proposition. At the end of the third quarter of 2025, the total office portfolio was 88.3% occupied. Furthermore, the company raised its full-year 2025 Funds From Operations (FFO) guidance midpoint to $2.84 per share, projecting 5.6% growth compared to 2024. That's real financial validation of their strategy.
Here's a quick look at some of the key operational and financial metrics supporting the value proposition as of late 2025:
| Metric | Value / Period | Context |
| Consecutive Quarters of Positive Cash Rent Roll-up | 46 | Second-generation leasing (Q3 2025) |
| Second-Gen Cash Rent Increase (Q3 2025) | 4.2% | Quarterly increase |
| Portfolio Occupancy (Q3 2025 End) | 88.3% | Total office portfolio |
| Leasing Volume (Q3 2025) | 551,000 square feet | Second-highest quarterly volume in three years |
| 2025 FFO Guidance Midpoint | $2.84 per share | Represents 5.6% growth over 2024 |
| Acquisition Price (The Link, Dallas) | $218 million | Trophy lifestyle office property |
The focus on high-quality assets in Sun Belt markets positions Cousins Properties to benefit from ongoing corporate migration trends. The company's tenant base is diversified, with technology companies making up 30.3% of the base, followed by financial services at 13.6%. This concentration in sectors and geographies driving relocation is central to their offering.
The leasing activity shows a preference for new space, which is what Cousins delivers:
- Leasing volume in Q2 2025 saw 80% being new or expansion leases.
- In Q3 2025, renewals accounted for only 17% of leasing volume.
- The company completed 1.4 million square feet of leasing year-to-date through Q3 2025.
- The Austin portfolio ended Q3 2025 at 94.9% leased.
Honestly, the numbers show they're delivering the exact product the market is demanding right now.
Cousins Properties Incorporated (CUZ) - Canvas Business Model: Customer Relationships
You're looking at how Cousins Properties Incorporated (CUZ) keeps its high-quality office tenants locked in, which is key for a REIT focused on the Sun Belt lifestyle office sector. Their approach centers on deep, in-house expertise and long-term commitments, which is how they aim to maintain their premier portfolio status. It's not just about signing a lease; it's about managing the entire relationship from day one.
The foundation of this relationship strategy is the dedicated in-house leasing and property management teams. Management consistently credits these operations teams for delivering exceptional results, showing that customer service isn't outsourced. This internal focus allows for a consistent, high-touch experience across their assets, which is critical when dealing with major corporate tenants who expect seamless operations in Class A spaces. Honestly, having the people who manage the asset also handle the leasing relationship just makes sense for this product type.
A core metric reflecting this relationship quality is the duration of their contracts. Cousins Properties cultivates long-term contractual relationships, which is evident in the weighted average lease terms (WALTs) they secure on new deals. For instance, leases executed in the second quarter of 2025 carried a WALT of 7.9 years, while Q3 2025 leasing activity saw an even stronger WALT of 9.4 years. This performance anchors the company's stability, keeping the weighted average lease term across the portfolio firmly in that desirable 7.9 to 9.4 years range for new commitments.
Managing lease expirations is a major focus for proactive management to maintain high occupancy. As of the end of the third quarter of 2025, Cousins Properties reported that only 6.3% of annual contractual rent was scheduled to expire through the end of 2026. This low near-term rollover profile gives the team ample time to engage tenants and backfill space without pressure. The overall portfolio ended Q3 2025 with a leased percentage of 90% and a weighted average occupancy of 88.3%, with a stated goal to push occupancy above 90% by the end of 2026.
For your largest customers, the service model shifts to direct, high-touch service for major corporate tenants. This is where the quality of the asset meets the quality of the relationship management. The company's tenant base is diversified, which helps mitigate risks associated with any single industry downturn. Here's a quick look at the industry breakdown of their tenant base as of Q3 2025:
| Tenant Industry Segment | Percentage of Tenant Base |
| Technology Companies | 30.3% |
| Financial Services | 13.6% |
| Professional Services | 9.4% |
| Consumer Goods/Services | 6.6% |
This diversification shows they aren't overly reliant on one sector, but they still manage the largest relationships closely. For example, as of the Q2 2025 reporting period, there was only one customer larger than 100,000 square feet expiring through February 2026: Samsung, for 123,000 square feet in Houston. Managing that transition, or renewal, is a prime example of the direct service required.
The success of this relationship strategy is also reflected in the pricing power Cousins Properties maintains with its existing tenants:
- Second-generation net rent on a cash basis climbed 4.2% in Q3 2025.
- Second-generation net rent on a cash basis increased 4.9% for the year-to-date period in 2025.
- The company delivered a positive cash rent roll-up on second-generation leasing for 46 consecutive quarters.
The leasing team is clearly effective at retaining and growing revenue from established relationships. Finance: draft 13-week cash view by Friday.
Cousins Properties Incorporated (CUZ) - Canvas Business Model: Channels
You're looking at how Cousins Properties Incorporated gets its value proposition-Class A office space in Sun Belt markets-into the hands of tenants and communicates with capital providers. The channels Cousins Properties uses are quite focused, relying heavily on internal expertise for the core leasing function.
Direct in-house leasing and sales teams for all property transactions.
The direct in-house teams are the engine for securing tenants in Cousins Properties Incorporated's premium properties. This direct interaction is key for high-value, long-term commercial real estate agreements. The effectiveness of this channel is clear in the volume of square footage they move.
Here's a look at the leasing throughput driven by these teams through the first three quarters of 2025:
| Metric | Q3 2025 Result | Year-to-Date (9 Months 2025) Result |
| Office Leases Executed (Square Feet) | 551,000 | 1,425,000 |
| Weighted Average Lease Term (Years) | 9.4 | Data not explicitly available for YTD |
| Portfolio Occupancy Rate | 88.3% (as of Q3 end) | 90% (as of Q1 end) |
| Second-Generation Cash Rent Roll-Up | Positive | Increased 4.9% (per square foot) |
For perspective, the Q3 2025 leasing volume was the second-highest quarterly volume over the last 3 years. Also, in Q2 2025, 80% of the 334,000 square feet leased was new or expansion leasing. The company has 355 total employees as of September 30, 2025, supporting this operational focus. That's a lot of square footage moved by people on the payroll. The Atlanta portfolio occupancy specifically stood at 83.4% in Q3 2025. In Charlotte, Class A space accounted for 70% of all new leasing during Q3 2025.
Corporate website and investor relations for financial stakeholders.
For the capital markets side, Cousins Properties Incorporated directs financial stakeholders to its digital presence. You find the official disclosures there. The corporate website is located at www.cousins.com. The Investor Relations section is where you access key financial communications.
Key financial data points relevant to stakeholders as of late 2025 include:
- Full-year 2025 FFO guidance midpoint raised to $2.82 per share (based on Q2 data) or a range of $2.82-$2.86 per share (based on Q3 data).
- The Q3 2025 cash dividend declared was $0.32 per common share.
- Trailing 12-month revenue as of September 30, 2025, was $964M.
- Market Capitalization as of October 24, 2025, was $4.47B, based on 168M shares outstanding.
The Q3 2025 Earnings Release and Supplemental Information were made available on October 30, 2025. The conference call for Q3 2025 results could be accessed via phone at (800) 836-8184, with replay passcode 73015#.
Brokerage community for sourcing new tenants and deals.
While the emphasis is clearly on the direct team, the brokerage community remains a channel for tenant sourcing. The success of the direct team, however, is highlighted by the fact that 68% of the overall leasing pipeline was new and expansion leasing as of the Q3 2025 call. The company has secured major tenants like Amazon, Alphabet, and ExxonMobil, validating its relationship-focused sales strategy, which involves both internal staff and external partners.
Operating partnership (Cousins Properties LP) for asset ownership.
Cousins Properties Incorporated operates through its entity, Cousins Properties LP, which is the vehicle for asset ownership and management. This structure is fundamental to how the REIT holds its real estate assets. As of December 31, 2024, the portfolio consisted of 42 properties owned wholly or through joint ventures. This portfolio included 20.6 million square feet of office space and 467,000 square feet of other space. Recent capital deployment through this structure included the acquisition of The Link in Uptown Dallas for $218 million; this property was 94% leased upon acquisition.
Finance: draft 13-week cash view by Friday.
Cousins Properties Incorporated (CUZ) - Canvas Business Model: Customer Segments
You're looking at the core clientele for Cousins Properties Incorporated (CUZ) as of late 2025. This isn't a broad-based landlord; Cousins focuses on a specific, high-quality niche within the office sector, which dictates who signs the leases and who buys the stock.
Large, credit-worthy corporate tenants requiring Class A office space form the bedrock of the leasing demand. Cousins Properties is an integrated REIT primarily investing in Class A office buildings located in high-growth Sun Belt markets. The focus is on trophy lifestyle office properties, as evidenced by the recent acquisition of The Link in Uptown Dallas for $218.0 million. The quality of the tenant base is reflected in the leasing metrics; second-generation net rent per square foot on a cash-basis increased by 4.2% for the third quarter of 2025. Furthermore, the company is seeing strong pricing power, with average net rent landing at $39.18 per square foot in Q3 2025, its third-highest quarterly level on record.
The primary driver for this demand is the ongoing corporate migration southward. Companies are moving from high-tax, high-regulation metros into the dynamic Sun Belt hubs where Cousins Properties has its footprint. This migration is fueling robust leasing activity, which reached 104% of 2019 levels across the Sun Belt markets Cousins serves. You can see the geographic concentration of this customer base clearly in the portfolio's NOI breakdown:
| Sun Belt Market | % of Total NOI (Q3 2025) |
| Austin | 36.0% |
| Atlanta | 31.5% |
| Charlotte | 9.9% |
| Tampa | 7.7% |
| Phoenix | 7.3% |
| Dallas | 4.2% |
| Houston | 3.4% |
The leasing volume in Q3 2025 was significant, with Cousins Properties executing 551,000 square feet of office leases. For the first nine months of 2025, the total executed leasing volume stood at 1,425,000 square feet.
The investor segment is comprised of those looking for exposure to high-growth office assets via a REIT structure. As of Q1 2025 data, the ownership structure shows a heavy reliance on institutional capital, with Institutions Ownership reported at 107.29% (relative to the float, based on the source data). This REIT focus is supported by the company's raised full-year 2025 Funds From Operations (FFO) guidance, which targets between $2.82 and $2.86 per share. The company's Market Cap was listed at $4.30B in Q1 2025.
Within the tenant mix, specific professional sectors are key drivers of occupancy and rent growth. Technology companies are the single largest segment, making up 30.3% of the tenant base. Financial services follow at 13.6%, and professional services at 9.4%. You see this in action with specific lease activity; for instance, the Austin team completed a notable 40,000 square foot renewal of a law firm at Colorado Tower.
The key tenant industry concentrations as of Q3 2025 are:
- Technology companies: 30.3% of tenant base
- Financial services: 13.6% of tenant base
- Professional services: 9.4% of tenant base
- Consumer goods/services: 6.6% of tenant base
Overall occupancy for the total office portfolio ended the quarter at 90%, with the weighted average occupancy at 88.3%.
Finance: draft 13-week cash view by Friday.
Cousins Properties Incorporated (CUZ) - Canvas Business Model: Cost Structure
You're looking at the core expenses that drive Cousins Properties Incorporated's operations, which, as a REIT focused on Class A office space, are heavily weighted toward property ownership costs. Honestly, for real estate, the fixed costs are the main story.
High fixed costs related to property ownership (depreciation, real estate taxes).
Depreciation and amortization are massive, non-cash charges reflecting the carrying cost of the real estate assets. For the nine months ended September 30, 2025, Cousins Properties recorded $308,276 thousand in depreciation and amortization of real estate assets. That's a significant chunk of the cost base. Regarding property taxes, management currently forecasts that net property tax expenses for the full year 2025 will be essentially flat compared to 2024, despite significant quarterly fluctuations seen earlier in the year, such as a 14.7% increase in Q3 2025 compared to the prior year. These costs are inherent to holding a portfolio of 20.9 million square feet of office space as of June 30, 2025.
Significant interest expense on debt, including the 5.250% senior unsecured notes.
Interest expense is a major cash outflow. For the three months ended September 30, 2025, Cousins Properties reported $41,497 thousand in interest expense. Over the first nine months of 2025, this totaled $116,785 thousand. You'll remember they executed a major capital markets move in Q2 2025, issuing $500 million of 5.250% public unsecured senior notes. This new debt impacts the interest expense going forward, even as they used some proceeds to retire older debt, like repaying $250.0 million of 3.91% privately placed senior notes on July 7, 2025.
Operating expenses for property maintenance and services.
These are the variable costs tied directly to running the buildings. For the three months ended June 30, 2025, same-property rental property operating expenses were $66,013 thousand. For the six months ended June 30, 2025, same-property rental property operating expenses totaled $135,477 thousand. These expenses are managed to keep Net Operating Income (NOI) strong; for instance, GAAP NOI grew 1.9% in Q3 2025 compared to the prior year.
Here's a quick look at the key expense line items for the nine months ended September 30, 2025 (amounts in thousands):
| Cost Category | Nine Months Ended September 30, 2025 |
| Interest Expense | $116,785 |
| Depreciation and Amortization | $308,276 |
| General and Administrative Expenses | $29,957 |
| Rental Property Operating Expenses (Total for Six Months Ended June 30, 2025) | $135,477 |
Highly efficient General and Administrative (G&A) expenses.
Cousins Properties often highlights its lean corporate overhead. For the nine months ending September 30, 2025, G&A expenses were $29,957 thousand. Compare that to the nine months ending September 30, 2024, when G&A was $27,325 thousand. The company views its G&A as highly efficient for its investors, which is key when you consider their FFO guidance midpoint for 2025 represents 5.6% growth over 2024.
Capital expenditures for tenant improvements and building upgrades.
While the search results don't isolate a specific dollar amount for routine tenant improvements and upgrades for the 2025 period, capital deployment is clearly a cost driver through acquisitions and development support. The company recently acquired The Link, a lifestyle office property in Dallas, for $218.0 million on July 28, 2025. Also, their Neuhoff joint venture repaid $39.2 million of outstanding principal on its construction loan to amend terms, which is a form of capital allocation supporting future asset value. You should watch for CapEx figures in the full year 2025 10-K, but for now, major deployment is seen through acquisitions.
- Acquisition cost for The Link: $218.0 million.
- Neuhoff JV construction loan principal repayment: $39.2 million.
- The company anticipates further capital deployment into accretive opportunities.
Finance: draft 13-week cash view by Friday.
Cousins Properties Incorporated (CUZ) - Canvas Business Model: Revenue Streams
You're looking at the core ways Cousins Properties Incorporated (CUZ) brings in cash, which is crucial for valuing any real estate investment trust. The revenue streams are anchored by long-term contracts but supplemented by performance-driven components.
The primary and most defintely stable stream is rental income from office leases. This is supported by a long history of favorable lease economics; for instance, second-generation cash rents increased for the 44th consecutive quarter as of Q1 2025 and for the 46th consecutive quarter as of Q3 2025. This stability underpins the entire operation.
Parking revenue is a growing component, which management has highlighted as a key driver for guidance increases. The increases in this area have been consistently driven by utilization rather than just pricing. Here's the quick math on that growth driver:
| Revenue Driver Component | Percentage Contribution to Revenue Increase |
|---|---|
| Utilization of Parking Decks | 75% |
| Price Increases on Parking | 25% |
Also, the nature of this parking revenue is quite consistent, with about 75% being contractual and the remaining 25% being transient or non-contractual. Pre-COVID, parking revenues were about 8% of total revenues, bottoming around 5% post-pandemic, and are currently just under 7% of total revenues as of late 2025.
Non-recurring or variable income provides boosts to the bottom line, such as lease termination fees. For example, Cousins Properties Incorporated (CUZ) recognized $2.9 million from these fees in Q1 2025.
To frame the overall revenue picture for the most recent reported quarter, the total revenue reached $248.33 million in Q3 2025, surpassing expectations. Rental property revenues specifically for Q3 2025 were $246.5 million.
The strength across these streams has allowed Cousins Properties Incorporated (CUZ) to raise its full-year outlook. The Funds From Operations (FFO) guidance for FY 2025 is now set between $2.82 to $2.86 per share, with a midpoint of $2.84 per share. This represents a significant increase from earlier guidance.
You can see the key financial metrics supporting this revenue profile below:
- Q3 2025 Total Revenue: $248.33 million
- Q3 2025 Rental Property Revenue: $246.5 million
- Q1 2025 Lease Termination Fees Recognized: $2.9 million
- FY 2025 FFO Guidance Range: $2.82 to $2.86 per share
- Parking Revenue Increase Driver Balance: 75% utilization / 25% pricing
Finance: draft 13-week cash view by Friday.
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