Texas

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.

DALLAS — A partnership between Goldman Sachs Asset Management (GSAM) and Crescent Real Estate LLC will redevelop 2401 Cedar Springs, a 200,000-square-foot office building located in the Uptown area of Dallas that it recently acquired from Guidestone Financial Resources. Jack Crews of JLL represented Guidestone in that sale. The single-tenant property was built in 1989 and will soon be vacant. The redevelopment project will focus on the building’s exterior façade and lobby and will deliver new amenities while modernizing the tenant spaces and common areas. A timetable for completion of the project has not yet been established.