Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2016

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

REAL ESTATE AND ACCUMULATED DEPRECIATION

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2016

(in thousands)

			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition					Gross Amount at Which Carried  at Close of Period
Description/Metropolitan Area	Encumbrances		Land and Improvements		Buildings and Improvements		Land and Improvements less Cost of Sales, Transfers and Other		Building and Improvements less Cost of Sales, Transfers and Other			Land and Improvements less Cost of Sales, Transfers and Other		Building and Improvements less Cost of Sales, Transfers and Other		Total (a)(b)		Accumulated Depreciation (a)(b)		Date of Construction/ Renovation	Date Acquired	Life on Which Depreciation in 2016 Statement of Operations is Computed (c)
OPERATING PROPERTIES
Colorado Tower	119,069		—		—		1,600		118,455			1,600		118,455		120,055		9,669		2013	2013	30 years
Austin, TX
816 Congress	84,231		6,817		89,891		3,282		16,170			10,099		106,061		116,160		14,767		—	2013	42 years
Austin, TX
Research Park	—		4,373		—		801		36,766			5,174		36,766		41,940		549		2014	1998	30 years
Austin, TX
Northpark Town Center	—		22,350		295,825		—		22,101			22,350		317,926		340,276		27,266		—	2014	39 years
Atlanta, GA
Promenade	104,997		13,439		102,790		—		35,664			13,439		138,454		151,893		33,382		—	2011	34 years
Atlanta, GA
The American Cancer Society Center	127,451		5,226		67,370		—		34,165			5,226		101,535		106,761		72,422		—	1999	25 years
Atlanta, GA
Meridian Mark Plaza	24,427		2,219		—		—		30,024			2,219		30,024		32,243		18,726		1997	1997	30 years
Atlanta, GA
Fifth Third Center	148,867		22,591		180,430		—		11,414			22,591		191,844		214,435		15,891		—	2014	40 years
Charlotte, NC
Corporate Center	—		7,298		272,148		—		1,705			7,298		273,853		281,151		2,827		—	2016	40 years
Tampa, FL
Bank of America Center	—		7,121		66,129		—		266			7,121		66,395		73,516		985		—	2016	40 years
Orlando, FL
One Orlando Centre	—		12,625		44,088		—		(2,635		)	12,625		41,453		54,078		706		—	2016	40 years
Orlando, FL
Citrus Center	—		4,307		41,608		—		(71		)	4,307		41,537		45,844		797		—	2016	40 years
Orlando, FL
The Pointe	23,369		9,404		54,694		—		41			9,404		54,735		64,139		738		—	2016	40 years
Tampa, FL
Harborview Plaza	—		10,800		39,136		—		436			10,800		39,572		50,372		515		—	2016	40 years
Tampa, FL
3344 Peachtree	80,258		16,110		176,153		—		(57		)	16,110		176,096		192,206		1,673		—	2016	40 years
Atlanta, GA
One Buckhead Plaza	—		17,011		171,930		—		41			17,011		171,971		188,982		1,651		—	2016	40 years
Atlanta, GA
3350 Peachtree	—		16,836		109,166		—		(988		)	16,836		108,178		125,014		1,038		—	2016	40 years
Atlanta, GA
3348 Peachtree	—		6,707		69,723		—		(30		)	6,707		69,693		76,400		749		—	2016	40 years
Atlanta, GA
Two Buckhead Plaza	53,515		18,053		74,547		—		204			18,053		74,751		92,804		760		—	2016	40 years
Atlanta, GA
Hearst Tower	—		9,977		323,299		—		1,510			9,977		324,809		334,786		2,937		—	2016	40 years
Charlotte, NC
NASCAR Plaza	—		51		115,238		—		562			51		115,800		115,851		1,109		—	2016	40 years
Charlotte, NC
Hayden Ferry	—		13,102		262,578		—		2,068			13,102		264,646		277,748		2,620		—	2016	40 years
Phoenix, AZ
Tempe Gateway	—		5,893		95,130		—		377			5,893		95,507		101,400		740		—	2016	40 years
Phoenix, AZ
One Eleven Congress	130,002		33,841		201,707		—		4,029			33,841		205,736		239,577		1,839		—	2016	40 years
Austin, TX
San Jacinto Center	102,562		34,068		176,535		—		144			34,068		176,679		210,747		1,500		—	2016	40 years
Austin, TX
Total Operating Properties	$	998,748	$	300,219	$	3,030,115	$	5,683	$	312,361		$	305,902	$	3,342,476	$	3,648,378	$	215,856

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2016

(in thousands)

			Initial Cost to Company				Costs Capitalized Subsequent  to Acquisition					Gross Amount at Which Carried  at Close of Period
Description/Metropolitan Area	Encumbrances		Land and Improvements		Buildings  and Improvements		Land and Improvements less Cost of Sales, Transfers and Other			Building and Improvements less Cost of Sales, Transfers and Other		Land and Improvements less Cost of Sales, Transfers and Other		Building and Improvements less Cost of Sales, Transfers and Other		Total (a)(b)		Accumulated Depreciation (a)(b)		Date of Construction/ Renovation	Date Acquired	Life on Which Depreciation in 2016 Statement of Operations is Computed (c)
PROJECTS UNDER DEVELOPMENT
NCR Phase 1	$	—	$	20,032	$	—	$	—		$	83,962	$	20,032	$	83,962	$	103,994	$	—	2015	2015
Atlanta, GA
NCR Phase II	—		8,099		—		—			8,142		8,099		8,142		16,241		—		—	2015
Atlanta, GA
Avalon	—		4,130		—		72			37,950		4,202		37,950		42,152		—		2016	2016
Atlanta, GA
Total Projects Under Development	$	—	$	32,261	$	—	$	72		$	130,054	$	32,333	$	130,054	$	162,387	$	—
LAND
Commercial Land
Land Adjacent to The Avenue Forsyth	—		11,240		—		(7,540		)	—		3,700		—		3,700		—		—	2007
Suburban Atlanta, GA
North Point	—		10,294		—		(9,773		)	—		521		—		521		—		—	1970-1985
Suburban Atlanta, GA
Total Commercial Land	$	—	$	21,534	$	—	$	(17,313	)	$	—	$	4,221	$	—	$	4,221	$	—
Residential Land
Callaway Gardens	—		1,584		—		(1,584		)	—		—		—		—		—		2006	2006
Pine Mountain, GA
Total Residential Land	$	—	$	1,584	$	—	$	(1,584	)	$	—	$	—	$	—	$	—	$	—
Total Land	$	—	$	23,118	$	—	$	(18,897	)	$	—	$	4,221	$	—	$	4,221	$	—
Total Properties	$	998,748	$	355,598	$	3,030,115	$	(13,142	)	$	442,415	$	342,456	$	3,472,530	$	3,814,986	$	215,856

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2016

(in thousands)

NOTES:

(a) Reconciliations of total real estate carrying value and accumulated depreciation for the three years ended December 31, 2016 are as follows:

	Real Estate									Accumulated Depreciation
	2016			2015			2014			2016			2015			2014
Balance at beginning of period	$	2,606,343		$	2,619,488		$	2,164,815		$	359,422		$	324,543		$	257,151
Additions during the period:
Parkway merger	2,832,730			—			—			—			—			—
Acquisitions	—			28,131			523,695			—			—			—
Improvements and other capitalized costs	208,016			139,676			109,959			—			—			—
Transfers	5,306			—			—			—			—			—
Depreciation expense	—			—			—			112,277			99,067			86,824
	3,046,052			167,807			633,654			112,277			99,067			86,824
Deductions during the period:
Parkway spin-off	(1,230,235		)	—			—			(148,523		)	—			—
Cost of real estate sold	(602,648		)	(180,952		)	(178,981		)	(107,320		)	(64,188		)	(19,432		)
Impairment loss	(4,526		)	—			—			—			—			—
	(1,837,409		)	(180,952		)	(178,981		)	(255,843		)	(64,188		)	(19,432		)
Balance at end of period	$	3,814,986		$	2,606,343		$	2,619,488		$	215,856		$	359,422		$	324,543

(b) The aggregate cost for federal income tax purposes, net of depreciation, was $2.9 billion (unaudited) at December 31, 2016.

(c) Buildings and improvements are depreciated over 25 to 42 years. Leasehold improvements and other capitalized leasing costs are depreciated over the life of the asset or the term of the lease, whichever is shorter.