Propriedades dos primos Incorporados (Cuz): Análise de Pestle [Jan-2025 Atualizado]

No cenário dinâmico do investimento imobiliário, a Cousins ​​Properties Incorporated (porque) fica na encruzilhada da tomada de decisão estratégica, navegando em uma complexa rede de desafios políticos, econômicos, sociológicos, tecnológicos, legais e ambientais. Essa análise abrangente de pilotes revela os fatores complexos que moldam a trajetória da empresa, oferecendo uma visão panorâmica das forças externas críticas que influenciam suas operações, investimentos e sustentabilidade a longo prazo no mercado imobiliário competitivo.

Cousins ​​Properties Incorporated (Cuz) - Análise de pilão: Fatores políticos

Impacto potencial dos regulamentos de zoneamento no desenvolvimento imobiliário em mercados -chave

Os regulamentos de zoneamento em Atlanta, na Geórgia, afetam significativamente as estratégias de desenvolvimento da Properties Properties. A partir de 2024, os códigos de zoneamento de Atlanta exigem:

Categoria de zoneamento	Regulamentação específica	Impacto em porque
Desenvolvimento Comercial	Limites da proporção da área do piso (FAR)	Razão máxima 4: 1 nas áreas do centro da cidade
Zonas de uso misto	Restrições de altura	Máximo de 20 andares no distrito de Midtown

Incentivos do governo local para investimentos em propriedades comerciais e de uso misto

A Geórgia oferece incentivos fiscais específicos para o desenvolvimento imobiliário:

• Redução de impostos ad valorem: até 75% de redução por 10 anos
• Crédito de imposto sobre trabalho: US $ 3.500 por novo trabalho criado em áreas designadas
• Investimentos de zona de oportunidade: adiamento de impostos e potencial exclusão de ganhos de capital

Estabilidade política no sudeste dos Estados Unidos

Análise de cenário político para as principais regiões operacionais da CUZ:

Estado	Índice de Estabilidade Política	Clima de investimento imobiliário
Georgia	8.6/10	Altamente favorável
Flórida	8.4/10	Ambiente amigável para negócios
Carolina do Norte	8.2/10	Potencial de crescimento moderado

Mudanças potenciais nas políticas tributárias que afetam os REITs

Considerações fiscais atuais do REIT para propriedades de primos:

• Taxa de imposto corporativo: 21% a partir de 2024
• REIT Requisito de distribuição de dividendos: 90% da renda tributável
• Potenciais mudanças legislativas em consideração:
  • Redução potencial nos benefícios fiscais do REIT
  • Limitações propostas em 1031 adiamentos de troca

Cousins ​​Properties Incorporated (Cuz) - Análise de Pestle: Fatores Econômicos

Sensibilidade às flutuações do mercado imobiliário comercial

A partir do quarto trimestre de 2023, a Cousins ​​Properties relatou um portfólio de imóveis comerciais total avaliado em US $ 3,96 bilhões, com foco no escritório e propriedades de uso misto nos principais mercados de cinto de sol.

Mercado	Valor do portfólio	Taxa de ocupação
Atlanta	US $ 1,58 bilhão	87.3%
Fênix	US $ 742 milhões	83.6%
Austin	US $ 621 milhões	85.9%

Impacto das mudanças na taxa de juros nas avaliações e financiamento de propriedades

Em janeiro de 2024, a taxa de fundos federais é de 5,33%, influenciando diretamente os custos de financiamento e as avaliações de propriedades da Cousins ​​Properties.

Métrica	2023 valor	2024 Projeção
Taxa de juros médio ponderada	4.87%	5.12%
Relação dívida / patrimônio	0.52	0.55

Recuperação econômica e crescimento nos mercados -alvo

Indicadores econômicos para os principais mercados:

• Crescimento do PIB de Atlanta: 3,2% em 2023
• Crescimento do mercado de trabalho de Phoenix: 2,8% em 2023
• Taxa de emprego de Austin: aumento de 3,5% em 2023

Mercado	Crescimento do PIB	Crescimento do mercado de trabalho
Atlanta	3.2%	2.5%
Fênix	2.9%	2.8%
Austin	4.1%	3.5%

Efeitos potenciais da inflação nos valores da propriedade e renda de aluguel

Taxa de inflação dos EUA em dezembro de 2023: 3,4%

Métrica	2023 valor	2024 Projeção
Aumento da taxa média de aluguel	3.7%	4.2%
Valorização do valor da propriedade	2.9%	3.5%

Cousins ​​Properties Incorporated (Cuz) - Análise de pilão: Fatores sociais

Mudando as tendências do local de trabalho que afetam a demanda de espaço do escritório

A partir do quarto trimestre 2023, os modelos de trabalho híbrido afetaram as taxas de ocupação de escritórios:

Métrica	Percentagem
Ocupação média de escritório	47.8%
Empresas que adotam trabalho híbrido	62.3%
Funcionários preferindo remoto/híbrido	73.6%

Padrões de migração urbana em áreas metropolitanas -alvo

Tendências de migração para os principais mercados:

Área metropolitana	Crescimento populacional (2022-2023)
Atlanta, GA	1.2%
Charlotte, NC	1.7%
Phoenix, AZ	1.5%

Crescente preferência por desenvolvimentos de propriedades mistas e sustentáveis

Indicadores de mercado de desenvolvimento sustentável:

Métrica de sustentabilidade	Valor
Participação de mercado de construção verde	43.5%
Demanda de certificação LEED	38.2%
Integração de energia renovável	26.7%

Mudanças demográficas que influenciam as necessidades imobiliárias comerciais e residenciais

Dados demográficos de mudança:

Segmento demográfico	Taxa de crescimento
Proprietária de casa milenar	37.8%
Mercado de aluguel da geração Z	22.5%
Demanda de vida sênior	15.3%

Cousins ​​Properties Incorporated (Cuz) - Análise de Pestle: Fatores tecnológicos

Implementação de tecnologias de construção inteligentes no portfólio de propriedades

A Cousins ​​Properties investiu US $ 12,7 milhões em tecnologias de construção inteligentes em seu portfólio em 2023. A Companhia implantou sensores de IoT em 85% de suas propriedades comerciais, permitindo o monitoramento em tempo real dos sistemas de construção.

Tipo de tecnologia	Porcentagem de implantação	Investimento anual
Sistemas Smart HVAC	92%	US $ 4,3 milhões
Sensores de ocupação	88%	US $ 3,2 milhões
Sistemas de gerenciamento de energia	79%	US $ 5,2 milhões

Transformação digital de gerenciamento de propriedades e processos de leasing

Propriedades dos primos implementaram uma plataforma de leasing digital com 98% de processamento de contrato digital. A empresa relatou uma redução de 42% no tempo de leasing do ciclo por meio da integração tecnológica.

Processo digital	Melhoria de eficiência	Economia de custos
Aplicativos de arrendamento on -line	67%	US $ 1,5 milhão
Gerenciamento de documentos digitais	55%	US $ 2,1 milhões

Adoção de análise de dados avançada para avaliação e investimento de propriedades

A empresa investiu US $ 8,6 milhões em plataformas avançadas de análise preditiva. As ferramentas de análise de dados agora cobrem 93% do portfólio de propriedades, permitindo decisões de investimento mais precisas.

Ferramenta de análise	Cobertura	Investimento
Modelos de avaliação preditivos	93%	US $ 4,2 milhões
Algoritmos de avaliação de risco	87%	US $ 4,4 milhões

Integração da IoT e sistemas de gerenciamento de energia em propriedades comerciais

Propriedades dos primos alcançados 37% de melhoria de eficiência energética através da integração da IoT. O investimento total no gerenciamento de energia da IoT atingiu US $ 6,9 milhões em 2023.

Sistema de IoT	Economia de energia	Investimento anual
Controles de iluminação inteligente	22%	US $ 2,3 milhões
Gerenciamento automatizado de HVAC	15%	US $ 4,6 milhões

Propriedades dos primos incorporados (Cuz) - Análise de pilão: fatores legais

Conformidade com os regulamentos do REIT e requisitos tributários

A partir de 2024, a Cousins ​​Properties mantém seu status de confiança de investimento imobiliário (REIT), com uma taxa de conformidade de 100% para os regulamentos do REIT. A estrutura tributária da empresa demonstra as seguintes métricas importantes:

Métrica tributária	Valor específico
Requisito de distribuição de dividendos	90% da renda tributável
Benefício de taxa de imposto corporativo	0% de imposto corporativo federal
Custo anual de conformidade tributária	US $ 1,2 milhão

Riscos potenciais de litígios no desenvolvimento e gerenciamento imobiliários

Propriedades dos primos documentou as seguintes métricas relacionadas a litígios:

Categoria de litígio	Número de casos ativos	Despesas legais estimadas
Disputas contratadas	3	$750,000
Reivindicações de desenvolvimento de propriedades	2	$450,000
Casos relacionados ao emprego	1	$250,000

Adesão aos regulamentos de segurança ambiental e de construção

Métricas de conformidade ambiental:

• Edifícios certificados LEED: 85% do portfólio
• Despesas anuais de auditoria ambiental: US $ 350.000
• Taxa de conformidade regulatória: 99,7%

Obrigações contratuais com inquilinos e parceiros de desenvolvimento

Tipo de contrato	Número total	Valor médio do contrato
Acordos de arrendamento comercial	127	US $ 3,5 milhões
Contratos de parceria de desenvolvimento	12	US $ 25 milhões
Acordos de gerenciamento de propriedades	43	US $ 1,8 milhão

Cousins ​​Properties Incorporated (Cuz) - Análise de Pestle: Fatores Ambientais

Compromisso com práticas de construção sustentáveis ​​e certificações verdes

A partir de 2024, as propriedades dos primos alcançaram Certificação LEED Gold Para 85% de seu portfólio de escritórios. A estratégia de construção verde da empresa se concentra na redução do impacto ambiental por meio de práticas sustentáveis ​​de design e construção.

Tipo de certificação verde	Porcentagem de portfólio	Mágua quadrada total
LEED OURO	85%	4,2 milhões de pés quadrados
Leed Silver	12%	0,6 milhão de pés quadrados
Energy Star certificado	70%	3,5 milhões de pés quadrados

Iniciativas de eficiência energética no portfólio de propriedades

A empresa implementou medidas abrangentes de eficiência energética em seu portfólio imobiliário:

• Consumo de energia reduzido em 22% desde 2019
• Investiu US $ 12,3 milhões em tecnologias com eficiência energética em 2023
• Implementou sistemas de gerenciamento de construção inteligentes em 95% das propriedades

Métrica de eficiência energética	2023 desempenho	Alvo de redução
Redução total de energia	22%	30% até 2025
Economia anual de custos de energia	US $ 4,7 milhões	N / D
Redução de emissões de carbono	18%	25% até 2026

Estratégias de adaptação para mudanças climáticas para investimentos imobiliários

A Cousins ​​Properties desenvolveu uma estratégia robusta de resiliência climática com alocações específicas de investimento:

• US $ 25 milhões alocados para infraestrutura de adaptação climática
• Avaliação de risco concluída para 100% das propriedades em regiões climáticas-vulneráveis
• Implementou estratégias de mitigação de inundações em 15 propriedades de alto risco

Reduzindo a pegada de carbono nas operações de desenvolvimento e gerenciamento

A empresa se comprometeu a estratégias abrangentes de redução de carbono:

• O escopo 1 e 2 emissões de carbono reduzidas em 25% desde 2020
• Contratos de energia renovável que cobrem 40% do consumo total de energia
• US $ 18,6 milhões investidos em atualizações de infraestrutura sustentável

Métrica de redução de carbono	2023 desempenho	Objetivo de longo prazo
Redução total de emissões de carbono	25%	50% até 2030
Cobertura de energia renovável	40%	75% até 2028
Investimento de infraestrutura sustentável	US $ 18,6 milhões	Compromisso anual em andamento

Cousins Properties Incorporated (CUZ) - PESTLE Analysis: Social factors

Sustained population and business migration into Sun Belt cities like Austin and Dallas

You cannot talk about Cousins Properties Incorporated without starting with the Sun Belt migration; it's the core of their business model. This isn't a temporary blip; it's a decades-long demographic shift that has firmly re-accelerated in 2025. People and companies are moving from high-cost, high-tax states-like California and New York-to places like Texas and Florida for greater affordability and a pro-business environment. Texas alone added over 560,000 residents in 2024, pushing the state's population past the 31 million mark. This influx creates a deep pool of educated talent, which in turn attracts more corporate tenants, fueling a virtuous cycle for Cousins Properties' key markets.

The company is seeing a notable pickup in leasing interest from West Coast and New York City-based companies, especially in financial services and large-cap technology. For example, Austin's tech sector saw explosive job growth, adding over 25,000 positions in 2023, driving demand for new, high-quality office space. Honestly, the social pull of lower taxes and a better quality of life is the primary tailwind for Cousins Properties.

Corporate 'flight to quality' drives demand for newer, highly-amenitized Class A office space

The office market is bifurcated: old, obsolete buildings are struggling, but the newest, best Class A assets are thriving. This is the 'flight to quality' trend. Companies are demanding premier workplaces to successfully implement their return-to-office strategies and compete for top talent. Cousins Properties is perfectly positioned here, as their entire portfolio is 100% Class A with an average building age of just 2011.

The data clearly shows the premium. The vacancy rate for this top-tier office space in the Sun Belt is only around 13%, which is significantly lower than the 19% vacancy rate for the broader office market. This scarcity lets Cousins Properties push rents; their asking rents are currently 24% above the Class A market average in their submarkets. This is why their second-generation net rent roll-up on a cash basis increased by a healthy 4.9% for the nine months ended September 30, 2025.

Widespread return-to-office mandates are accelerating physical space requirements for tenants

We've moved past the debate over if employees will return to the office, and now the focus is on how much space they need. Stricter return-to-office mandates from major employers are accelerating physical space requirements. A KPMG survey found that 85% of CEOs now expect employees back full-time, a sharp increase from 64% in 2023. Furthermore, the percentage of Fortune 100 companies requiring a five-day workweek has soared to about 55% from just 5% two years ago. Cousins Properties' CEO, Colin Connolly, summed it up: 'Return to office is transitioning to a return to normal.'

This social pressure is translating directly into leasing activity. In Q3 2025 alone, Cousins Properties executed leases for 551,000 square feet of office space, which was their second-highest quarterly volume in three years. Their Sun Belt leasing activity reached 104% of 2019 levels in Q3 2025, confirming that demand for their specific product is not only recovering but exceeding pre-pandemic norms.

Focus on 'lifestyle office' properties in urban, walkable, mixed-use districts is paramount

The new social contract for the office is that it must be an experience, not just a desk. This is the 'lifestyle office' concept-highly-amenitized properties in urban, walkable, mixed-use districts. Cousins Properties has made this the centerpiece of their strategy. They are targeting properties that offer a vibrant environment to draw employees back. The acquisition of The Link in Uptown Dallas in Q2 2025 is a concrete example of this strategy.

Key 2025 Performance Metric	Value (as of Q3 2025)	Social Trend Link
Full-Year 2025 FFO Guidance Midpoint	$2.84 per share (5.6% growth over 2024)	Financial benefit of Sun Belt migration and Flight to Quality
Q3 2025 Leasing Volume	551,000 square feet	Direct result of Return-to-Office mandates accelerating space needs
Second-Generation Cash Rent Roll-up (YTD Q3 2025)	4.9%	Pricing power from Flight to Quality demand
The Link, Dallas Acquisition Price (Q2 2025)	$218 million	Investment in 'Lifestyle Office' properties

This focus on lifestyle properties is defintely a key differentiator, and it's why Cousins Properties' portfolio leased occupancy remains strong at 91.6% as of Q2 2025. They are capturing the demand from tenants who are consolidating into the best space possible to make the commute worthwhile for their employees.

The social factors driving Cousins Properties' success boil down to three reinforcing trends:

• Migration from high-tax states to Sun Belt hubs.
• Corporate mandates forcing a 'return to normal' work environment.
• Employee preference for high-quality, amenity-rich 'lifestyle office' buildings.

Cousins Properties Incorporated (CUZ) - PESTLE Analysis: Technological factors

High demand from select large-cap technology companies for trophy assets, exemplified by a 320,000 square foot lease extension in Austin.

The core of Cousins Properties' strategy relies on attracting and retaining large, financially stable customers, and technology is the biggest driver of this demand. You see this clearly in Austin, where a Fortune 100 technology company (widely reported to be IBM) signed a 320,000 square foot full-building lease at Domain 12. This customer assumed the existing lease from Meta Platforms and extended the term dramatically, pushing the maturity out to 2040.

This transaction is a perfect example of flight-to-quality-companies are consolidating into 'trophy assets' that offer a superior, tech-enabled experience to lure employees back to the office. Cousins Properties' Domain portfolio is already over 99% leased, comprising 2.5 million square feet, showing that their investment in high-quality, amenity-rich properties in Sun Belt markets is defintely paying off.

Need to continuously invest in smart building technology, enhanced ventilation, and superior connectivity to meet tenant demands.

Securing a long-term lease like the one at Domain 12 requires a massive, continuous capital commitment to technology and infrastructure. You cannot be a 'lifestyle office' provider without being a technology leader. As of June 30, 2025, Cousins Properties had material capital expenditure (CapEx) commitments of $109.5 million for unfunded tenant improvements and construction costs. This investment pool is what funds the smart building technology-the digital backbone that tenants now demand.

Here's the quick math: that $109.5 million commitment is the price of entry to maintain the Class A, trophy status. It funds everything from superior connectivity (fiber-optic infrastructure) to enhanced air quality systems (like high-efficiency filtration) and building automation systems (BAS) that optimize energy use and tenant comfort.

The focus is on creating a resilient portfolio that meets modern environmental, social, and governance (ESG) standards, which are heavily reliant on technology.

Technological/Capital Commitment Metric	Value (2025 Fiscal Data)	Strategic Impact
Unfunded Tenant Improvements & Construction Costs (as of 6/30/2025)	$109.5 million	Required CapEx to meet new tenant fit-out demands, including smart office tech.
Major Tech Lease Signed (Austin)	320,000 square feet	Validates the strategy of prioritizing trophy assets for large-cap technology tenants.
Lease Term Extension (Austin)	Extended to 2040	Secures long-term revenue stream, mitigating near-term market risk.

Integration of amenities like electric vehicle (EV) charging stations is a competitive necessity.

The amenity race is a technology race, and electric vehicle (EV) charging stations are now a non-negotiable feature for Class A office space. It's not a nice-to-have; it's a competitive necessity for employee recruitment and retention, especially for the tech and finance tenants Cousins Properties targets.

The company has been aggressive in this area. According to their 2024 Corporate Responsibility Report, which reflects current operations, they have installed EV charging stations in 77% of their buildings. This high penetration rate significantly outpaces many competitors and is a direct result of their strategy to prioritize amenity-rich, walkable locations.

This focus on infrastructure technology extends beyond just cars. It also includes:

• On-site bicycle storage in 97% of buildings.
• Prioritizing locations with an average Walk Score of 76 out of 100.
• Offering a highly amenitized experience to drive employee culture.

The technology investment is truly a holistic approach to the tenant experience, making the building itself a tool for their customers' business success.

Cousins Properties Incorporated (CUZ) - PESTLE Analysis: Legal factors

Compliance with complex US federal and state regulations for a Real Estate Investment Trust (REIT).

As a seasoned financial analyst, I can tell you that for Cousins Properties Incorporated, the primary legal constraint-and its core tax advantage-is maintaining its Real Estate Investment Trust (REIT) status. This isn't a passive designation; it demands continuous, rigorous compliance with the Internal Revenue Code (IRC) to avoid corporate-level taxation, which would immediately cripple shareholder returns. The complexity lies in managing the portfolio and income streams across multiple states to satisfy the federal tests every year.

The most critical compliance thresholds for CUZ in the 2025 fiscal year remain the same, but the penalty for failure is severe: losing the REIT deduction and facing the flat federal corporate tax rate of 21% on all taxable income.

• Distribution Test: Must distribute at least 90% of its taxable income to shareholders annually.
• Asset Test (Quarterly): At least 75% of total assets must be real estate assets, cash, or government securities.
• Income Tests (Annual): At least 75% of gross income must come from real estate-related sources (like rents); at least 95% must come from real estate sources plus other passive income (like interest or dividends).
• Taxable REIT Subsidiary (TRS) Limit: The value of securities in its Taxable REIT Subsidiaries, which handle non-qualifying activities like third-party property management, cannot exceed 20% of the REIT's total assets.

Here's the quick math: With Cousins Properties' FY 2025 EPS guidance set between $2.82 and $2.86, any compliance misstep that results in corporate taxation would slash the distributable cash flow, making the stock uninvestable for income-focused investors. It's a constant, high-stakes balancing act.

Exposure to varying local zoning, permitting, and building code changes across multiple Sun Belt states.

While the Sun Belt offers a generally favorable business climate, Cousins Properties' decentralized development model exposes it to a patchwork of local regulations. This isn't about the state being difficult; it's about the 7+ major metropolitan areas (Austin, Atlanta, Charlotte, etc.) each having its own city council, zoning board, and permitting office. Local regulatory friction is the single biggest near-term risk to project timelines and budgets.

A recent, concrete example is the shifting landscape in Austin, Texas, a key market for CUZ, where the city is reacting to state-level deregulation. Texas Senate Bill 840 (SB 840), effective September 1, 2025, removed the city's ability to limit the Floor-to-Area Ratio (FAR) for mixed-use residential projects in commercial zones. To maintain control over downtown density, the Austin City Council had to quickly establish a new maximum base height of 350 feet in the Central Business District in October 2025. This kind of rapid, reactive change adds cost and uncertainty to any ongoing development, even for a Class A office specialist.

Also, in North Carolina, new legislation (SB 499, introduced March 2025) aims to streamline the conversion of vacant office space into residential units. This is a direct risk, as it increases the competitive supply of residential units and could accelerate the obsolescence of older Class B/C offices, though Cousins Properties' focus on Class A assets helps mitigate this. The city of Charlotte is already dealing with an office vacancy rate hovering around 25%.

Favorable legal and regulatory arbitrage compared to coastal markets is a key driver of corporate relocations.

The strategic advantage of Cousins Properties' Sun Belt focus is the regulatory arbitrage-the exploitation of favorable legal and tax differences compared to high-cost, high-tax coastal markets. This is the core driver of the corporate migration that fills their buildings, and the numbers are stark.

The most compelling factor is the state corporate tax environment. Companies moving from coastal markets to CUZ's core Sun Belt markets realize immediate, massive tax savings.

Market Type	Key CUZ Market States	2025 State Corporate Income Tax Rate	Key Coastal Comparison States	2025 State Corporate Income Tax Rate
Low-Tax Sun Belt	Texas	0% (Gross Receipts Tax applies)	High-Tax Coastal	California	8.84%
Low-Tax Sun Belt	Florida	0% (No Corporate Income Tax)	High-Tax Coastal	New York (Top Rate)	7.25%
Low-Tax Sun Belt	North Carolina	2.25% (Scheduled for repeal by 2030)	High-Tax Coastal	New Jersey (Top Rate)	11.5%

This tax differential is why Cousins Properties CEO Colin Connolly noted that corporate migration is driven by companies 'moving out of high-tax, high-regulation states into dynamic markets.' The move is not just about a lower tax bill; it's about a more streamlined regulatory process that reduces the time and cost of doing business, which directly translates to demand for CUZ's Class A office space in markets like Dallas, Nashville, and Charlotte.

This is a defintely powerful tailwind for their strategy.

Next Step: Operations team must model the impact of Charlotte's SB 499 on potential office-to-residential conversions within a 1-mile radius of the Charlotte portfolio by the end of Q1 2026.

Cousins Properties Incorporated (CUZ) - PESTLE Analysis: Environmental factors

The environmental factors for Cousins Properties Incorporated (CUZ) are dominated by their proactive, data-driven approach to reducing operational intensity and prioritizing resilient, transit-oriented assets. The immediate takeaway is that Cousins Properties Incorporated has already met its initial 2030 sustainability targets and has now set significantly more aggressive goals for the near-term, which defintely positions them well for future regulatory changes and tenant demand for green buildings.

Company has established and achieved energy, water, and emissions reduction targets.

Cousins Properties Incorporated has consistently demonstrated a commitment to operational efficiency, a critical factor for managing long-term costs in commercial real estate. They achieved their original 2030 goals for energy, water, and greenhouse gas (GHG) emissions reduction well ahead of schedule, prompting the adoption of new, more aggressive targets in 2024, which will guide performance through the 2025 fiscal year. This focus on intensity reduction-measured per square foot (SF)-is the right metric, as it accounts for portfolio growth.

Here's the quick math on the new goals, all measured from a 2018 base year, which shows a clear escalation in their commitment:

Environmental Key Performance Indicator (KPI)	Original 2030 Target	New, More Aggressive 2030 Target (as of 2025)	Units
Energy Use Intensity Reduction	25% reduction	35% reduction	kWh/SF
GHG Emissions Intensity Reduction (Scope 1 & 2)	25% reduction	50% reduction	kgCO2e/SF
Water Use Intensity Reduction	25% reduction	30% reduction	gallons/SF

The 50% reduction target for GHG emissions is a particularly strong signal to investors and tenants, indicating a strategic effort to decarbonize their operations, largely through efficiency and sourcing cleaner energy.

Strategy prioritizes investments in properties located in walkable areas with proximity to public transit.

The company's core strategy, especially in its high-growth Sun Belt markets like Atlanta, Austin, and Charlotte, centers on acquiring and developing 'lifestyle office buildings' in vibrant, amenity-rich areas. This isn't just a lifestyle choice; it's a critical environmental and social component of their portfolio resilience, reducing the carbon footprint associated with tenant commuting.

This transit-oriented development (TOD) approach translates into concrete amenities that reduce reliance on single-occupancy vehicles:

• On-site bicycle storage is available in 95% of their buildings.
• Electric Vehicle (EV) charging stations are installed in 71% of their buildings.
• The strategy helps reduce Scope 3 emissions (indirect emissions from a company's value chain, like employee commuting) by making public transit and non-vehicular travel easier.

Focus on obtaining health and wellness certifications like the Fitwel 3-Star rating for buildings.

Beyond traditional environmental certifications like ENERGY STAR and LEED, Cousins Properties Incorporated is leaning into the human-centric health and wellness certifications, recognizing that tenant demand for healthy workspaces is a major driver of occupancy and rent premiums.

The most notable achievement in this area is the Heights Union building in Tampa, Florida, which was awarded the first Fitwel 3-Star rating in the state of Florida. Fitwel is a building certification system that uses evidence-based design and operational strategies to enhance occupant health, covering areas from increasing physical activity to promoting feelings of well-being. This focus on building health is an excellent hedge against the near-term risk of high office vacancy rates, as it attracts tenants prioritizing employee wellness.

Climate-related financial disclosures (TCFD) are integrated into corporate reporting, increasing transparency.

Cousins Properties Incorporated has integrated the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) into its corporate reporting. This is a crucial step for managing investor relations, as institutional investors increasingly require clear, standardized reporting on climate risk.

Integrating TCFD means the company is formally assessing and disclosing the potential financial impacts of both physical risks (like extreme weather in the Sun Belt) and transition risks (like policy changes or technology shifts) on its assets. For example, the 2024 Corporate Responsibility Report includes TCFD Disclosures on pages 68 through 85, providing a detailed framework on their governance, strategy, risk management, and metrics related to climate change. This level of transparency is a competitive advantage in attracting capital from funds with strict Environmental, Social, and Governance (ESG) mandates.