Cousins, Partners to Develop $175M, 309,000 SF Office Tower in Downtown Austin

AUSTIN, TEXAS — A partnership between Atlanta-based Cousins Properties (NYSE: CUZ), Riverside Resources and Ironwood Real Estate will develop 300 Colorado, a 309,000-square-foot office tower that will be located in downtown Austin. Total development costs of the project are anticipated to be about $175 million. The property will be situated across the street from Cousins’ Colorado Tower, a 373,334-square-foot office asset. The property is 100 preleased to independent oil and gas firm Parsley Energy Inc., which has signed a 12-year, 302,000-square-foot lease; and restaurant Del Frisco’s, which has signed a 10-year, 7,000-square-foot lease. The partnership expects to begin construction in December and deliver the building in December 2020.