Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2017

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, 2017

(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 2017 Statement of Operations is Computed (c)
OPERATING PROPERTIES
Colorado Tower	119,165		—		—		1,600			120,853			1,600		120,853		122,453		16,599		2013	2013	30 years
Austin, TX
816 Congress	82,742		6,817		89,891		3,282			18,631			10,099		108,522		118,621		19,895		—	2013	42 years
Austin, TX
Research Park	—		4,373		—		801			42,307			5,174		42,307		47,481		2,772		2014	1998	30 years
Austin, TX
Northpark Town Center	—		22,350		295,825		—			47,856			22,350		343,681		366,031		41,431		—	2014	39 years
Atlanta, GA
Promenade	102,071		13,439		102,790		—			36,600			13,439		139,390		152,829		40,608		—	2011	34 years
Atlanta, GA
Meridian Mark Plaza	23,970		2,219		—		—			30,108			2,219		30,108		32,327		19,782		1997	1997	30 years
Atlanta, GA
Fifth Third Center	145,974		22,591		180,430		—			14,669			22,591		195,099		217,690		24,118		—	2014	40 years
Charlotte, NC
Corporate Center	—		7,298		272,148		—			21,707			7,298		293,855		301,153		14,042		—	2016	40 years
Tampa, FL
The Pointe	22,729		9,404		54,694		—			2,368			9,404		57,062		66,466		3,647		—	2016	40 years
Tampa, FL
Harborview Plaza	—		10,800		39,136		—			1,065			10,800		40,201		51,001		2,675		—	2016	40 years
Tampa, FL
3344 Peachtree	—		16,110		176,153		—			6,849			16,110		183,002		199,112		8,811		—	2016	40 years
Atlanta, GA
One Buckhead Plaza	—		17,011		159,564		—			2,564			17,011		162,128		179,139		7,954		—	2016	40 years
Atlanta, GA
3350 Peachtree	—		16,836		108,177		—			131			16,836		108,308		125,144		5,972		—	2016	40 years
Atlanta, GA
3348 Peachtree	—		6,707		69,723		—			5			6,707		69,728		76,435		3,804		—	2016	40 years
Atlanta, GA
8000 Avalon	—		4,130		—		72			67,391			4,202		67,391		71,593		229		2016	2016	40 years
Atlanta, GA
Two Buckhead Plaza	—		18,053		74,547		—			1,315			18,053		75,862		93,915		3,918		—	2016	40 years
Atlanta, GA
Hearst Tower	—		9,977		323,299		—			4,219			9,977		327,518		337,495		15,071		—	2016	40 years
Charlotte, NC
NASCAR Plaza	—		51		115,238		—			2,043			51		117,281		117,332		6,316		—	2016	40 years
Charlotte, NC
Hayden Ferry	—		13,102		262,578		—			12,397			13,102		274,975		288,077		15,585		—	2016	40 years
Phoenix, AZ
111 West Rio	—		6,076		56,647		—			16,217			6,076		72,864		78,940		1,245			2017	40 years
Phoenix, AZ
Tempe Gateway	—		5,893		95,130		—			844			5,893		95,974		101,867		4,581		—	2016	40 years
Phoenix, AZ
One Eleven Congress	—		33,841		201,707		—			18,682			33,841		220,389		254,230		9,409		—	2016	40 years
Austin, TX
San Jacinto Center	—		34,068		176,535		(579		)	(759		)	33,489		175,776		209,265		7,513		—	2016	40 years
Austin, TX
Total Operating Properties	$	496,651	$	281,146	$	2,854,212	$	5,176		$	468,062		$	286,322	$	3,322,274	$	3,608,596	$	275,977

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2017

(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	$	—	$	18,015	$	—	$	—		$	194,613	$	18,015	$	194,613	$	212,628	$	—	2015	2015
Atlanta, GA
NCR Phase II	—		10,116		—		205			58,033		10,321		58,033		68,354		—		—	2015
Atlanta, GA
300 Colorado	—		—		—		—			—		—		—		—		—		—	—
Austin, TX
Total Projects Under Development	$	—	$	28,131	$	—	$	205		$	252,646	$	28,336	$	252,646	$	280,982	$	—
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	$	—
Total Land	$	—	$	21,534	$	—	$	(17,313	)	$	—	$	4,221	$	—	$	4,221	$	—
Total Properties	$	496,651	$	330,811	$	2,854,212	$	(11,932	)	$	720,708	$	318,879	$	3,574,920	$	3,893,799	$	275,977

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2017

(in thousands)

NOTES:

(a) Reconciliations of total real estate carrying value and accumulated depreciation for the three years ended December 31, 2017 are as follows:

	Real Estate									Accumulated Depreciation
	2017			2016			2015			2017			2016			2015
Balance at beginning of period	$	3,814,986		$	2,606,343		$	2,619,488		$	215,856		$	359,422		$	324,543
Additions during the period:
Parkway merger	—			2,832,730			—			—			—			—
Acquisitions	62,723			—			28,131			—			—			—
Improvements and other capitalized costs	303,940			208,016			139,676			—			—			—
Transfers	—			5,306			—			—			—			—
Depreciation expense	—			—			—			101,720			112,277			99,067
	366,663			3,046,052			167,807			101,720			112,277			99,067
Deductions during the period:
Parkway spin-off	—			(1,230,235		)	—			—			(148,523		)	—
Cost of real estate sold	(287,850		)	(602,648		)	(180,952		)	(41,599		)	(107,320		)	(64,188		)
Impairment loss	—			(4,526		)	—			—			—			—
	(287,850		)	(1,837,409		)	(180,952		)	(41,599		)	(255,843		)	(64,188		)
Balance at end of period	$	3,893,799		$	3,814,986		$	2,606,343		$	275,977		$	215,856		$	359,422

(b) The aggregate cost for federal income tax purposes, net of depreciation, was $2.9 billion (unaudited) at December 31, 2017.

(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.