Cousins Properties Acquires Sail Tower to Boost Austin Portfolio

Cousin Properties (CUZ) recently acquired a trophy lifestyle office property, Sail Tower, in Austin, TX. This property, which encompasses 804,000 square feet of space, was purchased for a net price of $521.8 million.Sail Tower, developed in 2022, is located near the Second Street entertainment district in Downtown Austin. It is only a few blocks away from Cousins’ existing 1.7 million square foot Downtown Austin office portfolio. This office space is fully leased to a Fortune 20 company (S&P: AA+) through 2 ...