ATLANTA-Locally-based Cousins Properties Inc. and J.P. Morgan have formed a joint venture on the Terminus 100 and 200 office towers in Buckhead.
Cousins developed the two office towers during the office market’s most recent building boom, according to the Atlanta Business Chronicle.
JP Morgan took a 50% stake in the two buildings. The 25-story Terminus 200—the second of the Terminus-mixed-use project’s office towers—has reduced its vacancy to less than 10%, according to market data. Buckhead’s Class A direct vacancy has fallen to about 13 percent from a high of 25% a few years ago.
“It’s very exciting to affirm our confidence in the steadily improving Buckhead submarket with the Terminus 100 and 200 transactions,” says Cousins President and CEO Larry Gellerstedt.
Terminus 100 is a 27-story, 656,00-sf building. Terminus 200 totals 565,000 sf. See story in the Atlanta Business Chronicle.