Cousins Properties Acquires 97.5% Stake In Development Site In Dallas For $50 Million

Cousins Properties acquired a 97.5% stake in a 2.3-acre development site located at 2401 McKinney Avenue in the Uptown Dallas market. The transaction involved a total investment of $50 million, contributing to a larger planned development valued at $1.3 billion, which includes the construction of a 700,000-square-foot office tower.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $50 million
• Address: 2401 McKinney Avenue
• Market: Dallas, TX
• Stake Acquired: 97.5%
• Joint Venture Partner: Trammell Crow Co.
• Future Development: 700,000-square-foot office tower
• Future Occupant: Morgan Stanley's regional headquarters
• Expected Groundbreaking: First half of 2027

The deal was executed by Kennedy Hicks and Colin Connolly representing Cousins Properties. Their collaboration with Trammell Crow Co. aims to realize an ambitious development plan in a prime Dallas location.