ATLANTA--(BUSINESS WIRE)--Cousins Properties and Gables Residential have signed Earth Fare, the North Carolina-based organic and natural foods grocer, to a 24,782-square-foot lease in the second phase of Emory Point in Atlanta, GA.
“We’re very excited about Earth Fare anchoring the second phase of Emory Point,” said Larry Gellerstedt, President and Chief Executive Officer of Cousins. “The addition of an organic grocer provides the surrounding neighborhoods, as well as our Emory Point community, a unique and highly sought-after offering.”
Emory Point is part of Earth Fare’s multi-point entry into the Atlanta market. The company currently operates over 30 stores in nine states. The addition of the natural foods grocer brings the retail portion of phase two to 64.6% leased.
Joe Wilber, Senior Vice President Investments-East for Gables Residential adds, “Earth Fare is a highly desirable and complementary provider of organic goods that we welcome enthusiastically to the neighborhood. Offering a grocery store on-site is a tremendous value for our residents and fellow retailers as well as a convenience for many in the surrounding area.”
Emory Point is a vertically integrated luxury mixed-use development, located in the Clifton Corridor, adjacent to The Centers for Disease Control and Prevention and in close proximity to Emory University and Emory Healthcare. The first phase opened in 2012 and includes 80,000 square of retail and 443 apartment units. The retail and apartments are currently 90% and 99% leased, respectively. The second phase commenced construction in 2013 and includes 43,000 square feet of retail and 307 apartments. Cousins and Gables expect phase two to open for business in early 2015.
About Cousins Properties Incorporated
The Company is a leading diversified real estate company with extensive experience in development, acquisition, financing, management and leasing. Based in Atlanta, the Company actively invests in office and retail projects. The Company is a fully integrated equity real estate investment trust (REIT) and trades on the New York Stock Exchange under the symbol CUZ. For more information, please visit www.cousinsproperties.com.
About Gables Residential
Gables Residential is an award-winning, vertically integrated real estate company and privately held REIT specializing in the development, construction, ownership, acquisition, financing and management of multifamily and mixed-use communities. Gables manages approximately 35,000 apartment homes and 500,000 square feet of retail space in high growth markets throughout the United States, including Atlanta, Austin, Dallas, Houston, South Florida, Southern California and metropolitan Washington, D.C. The company has received national recognition for excellence in development, management, sales, marketing, training, benefits and corporate accommodations. These achievements reflect the impact of the company’s experienced and dedicated team members, superior knowledge of the markets served, and expertise in development and management.