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DALLAS, March 11, 2013 /PRNewswire/ -- Lockton Companies has signed a 99,000-square-foot lease with Cousins Properties Incorporated (NYSE: CUZ) at 2100 Ross in the Arts District.
The new lease represents a significant office expansion for Lockton, a global insurance and risk management company founded in Kansas City, Mo. Lockton's move to the 11th through 14th floors of 2100 Ross means the company's Dallas office will remain in the central business district.
Bruce Sammis, Chief Executive Officer of Lockton Dunning Benefits, a benefits consulting series of Lockton Companies, shared, "Downtown Dallas is the center of business in North Texas and we are excited to remain in this area and continue being a part of this vibrant community. The central location and ease of access make 2100 Ross the best choice for our business, our clients and our Associates. It will be an added bonus to be amid the energy and excitement of the Arts District as we continue growing and providing expert consulting services for our clients."
Frank Scardino, Chief Executive Officer of Lockton-Dallas' Property & Casualty consulting office shared, "It was important to our leadership and Associates to stay in urban Dallas. Dallas Mayor Mike Rawlings and others encouraged us to stay, and we know it is the right decision. We are also pleased to expand on a long-standing relationship with our friends at Cousins."
2100 Ross is a 33-story, 844,000-square-foot, Class A office building just steps from the new Klyde Warren Park, which connects the Arts District to Uptown. Cousins purchased the building at a significant discount in August 2012 and implemented a comprehensive capital improvement plan to enhance the common areas and amenities.
"Lockton's lease at 2100 Ross is a win for Cousins and the Arts District," said Larry Gellerstedt, President and Chief Executive Officer of Cousins. "Having done business with Lockton for many years, we're excited to expand our relationship with such a first class Company. We're also very encouraged by the overall momentum at 2100 Ross, where our capital improvement plan and the vibrancy surrounding the new park continue to generate significant customer interest."
2100 Ross is currently 78 percent leased, up from 67 percent when Cousins acquired the building last year. The building's diverse tenant base includes CBRE, Prudential Mortgage Capital and Bank of America Merrill Lynch.
More than 4,450 professionals at Lockton provide more than 15,000 clients around the world with insurance, benefits, and risk management services that improve our clients' businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held insurance broker in the world and 9th largest overall. Independent researcher Greenwich Associates has awarded Lockton its Service Excellence Award for risk management for large companies. For four consecutive years, Business Insurance has recognized Lockton as a "Best Place to Work in Insurance." To see the latest insights from Lockton's experts, check Lockton Market Update.
About Cousins Properties
Cousins Properties Incorporated 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. Since its founding in 1958, Cousins has developed 20 million square feet of office space, 20 million square feet of retail space, more than 3,500 multi-family units and more than 60 single-family neighborhoods. 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.
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