Cousins Properties (CUZ) is under contract to acquire 601 West 2nd Street, also known as Sail Tower, an 804,000 square foot trophy lifestyle office property in Austin, for a net purchase price of $521.8M. The transaction is expected to close in December, subject to customary closing conditions. Sail Tower was developed in 2022 and the office space is 100% leased to a Fortune 20 company through 2038.
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