8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 8, 2010

Cousins Properties Incorporated

(Exact name of registrant as specified in its charter)

Georgia
(State or other jurisdiction of incorporation)

001-11312
(Commission File Number)

58-0869052
(IRS Employer Identification Number)

191 Peachtree Street NE, Suite 3600, Atlanta, Georgia 30303-1740
(Address of principal executive offices)

Registrant’s telephone number, including area code: (404) 407-1000

Not applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure

Cousins Properties Incorporated (the “Company”) plans to present at the National Association of Real Estate Investment Trusts’ REITWeek 2010, June 9-11, at the Hilton Chicago hotel in Chicago, Illinois. The presentation is scheduled for Wednesday, June 9, 2010, at 9:00 to 9:35 a.m. CDT (10:00 to 10:35 a.m. EDT). The live audio broadcast of the Company’s presentation will be available online at www.cousinsproperties.com and at http://www.industrystream.net/reitweek2010/cousins. The online replay will begin shortly after the presentation ends and will be available for 90 days.

The Company is furnishing the presentation materials, included as Exhibit 99.1 to this report and incorporated herein by reference. The Company is not undertaking to update this presentation. This report should not be deemed an admission as to the materiality of any information contained in the presentation.

The Company is furnishing the exhibit to this Form 8-K in accordance with Item 7.01. The exhibit shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liability of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.

Certain matters contained in this Current Report on Form 8-K are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risks. These include, but are not limited to, availability and terms of capital and financing; national and local economic conditions; conditions in the real estate industry in general and in specific markets; the potential for recognition of additional impairments due to continued adverse market and economic conditions; leasing risks; the financial condition of existing tenants; competition from other developers or investors; the risks associated with development projects; rising interest and insurance rates; the availability of sufficient development or investment opportunities; environmental matters; the financial condition and liquidity of, or disputes with, joint venture partners; any failure to comply with debt covenants under credit agreements; any failure to continue to qualify for taxation as a real estate investment trust and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission, including those described in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2009. The words “goals” and “opportunities” or similar expressions are intended to identify forward-looking statements. These forward-looking statements represent goals and objectives and are not intended as guidance or projections of future results. The Company can give no assurance that such goals and objectives will be achieved. Such forward-looking statements speak as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise, except as required under U.S. federal securities laws.

Item 9.01 Financial Statements and Exhibits

     (d) Exhibits

99.1 June 2010 Investor Presentation materials of Cousins Properties Incorporated

Signatures

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 8, 2010

COUSINS PROPERTIES INCORPORATED
By:	/s/ James A. Fleming
	James A. Fleming
	Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

cousinsproperties.com

Who We Are

Founded in 1958, publicly traded since 1962, REIT since 1987.
Diversified real estate company with experience in development, acquisition, financing, management and leasing.

Primary Businesses

• Class A office and retail properties in the Southeast U.S.

• 7.5 million square feet of office in five markets

• 4.6 million square feet of retail in eight markets

Strong Balance Sheet

• Raised $319 million through equity offering in September 2009

• Decreased leverage from 73% in Q1 2009 to 44%

• Decreased Debt/EBITDA multiple from 11x in Q2 2009 to 7x

• Reduced recourse debt from 2009 peak of $581 million to $216 million

Other Business Lines

Client Services

• Third-party management and leasing services for more than 13 million square feet

• Ranked #1 in Atlanta Class A office, 5.3 million square feet managed

• Top 5 in Dallas Class A office, 6.2 million square feet managed

Land and Residential Portfolio

• $127 million of commercial land available for development/sale (book value)

• 24 residential communities with 4,962 acres for single-family development

• 34 remaining for-sale residential condo units (as of 6/4/10)

Industrial Portfolio

• 2.0 million square feet of industrial space in Atlanta and Dallas

Recent Highlights

LEASING

• Retail portfolio increased from 77% leased at beginning of 2009 to 87% (as of 6/4/10)

• Office portfolio 88% leased

• Palisades West 2 increased from 31% to 86% leased in Q1 2010

• Industrial portfolio increased from 44% leased at end of Q3 2009 to 85% (as of 6/4/10)

SALES

• $14 million of outparcel sales in Q1 2010

• Sold ~1/3 of industrial land in Q1/Q2 for $10 million

• Sold 85 condos at Terminus since 9/30/09; only 32 remain (as of 6/4/10)

FEES

• Fee business generated over $18 million in 2009 (revenue net of reimbursements)

• New engagements for Cox Communications, The Center for Civil and Human Rights, The College Football Hall of Fame.

cousinsproperties.com

Key Objectives

LEASING GOALS

• Retail and office 90% leased by year end

• Increase NOI within existing portfolio by $20 million within 3 years

• Stabilize existing portfolio at 95% or higher

BALANCE SHEET GOALS

• Reduce leverage to <40%

• Reduce debt/EBITDA multiple to 5.5x

• Target recourse debt at <25% of overall debt

SALES GOALS

• Lease and sell industrial portfolio

• Sell remainder of condo units

• Sell San Jose MarketCenter

• Reduce land and lot holdings from 15% of book value to less than 10%

FEE GOALS

• Grow client services revenue by 10% a year

• Continue to expand fee development platform

Acquisition Opportunities

• Sharpshooter approach

• Small asset base provides ability to impact NAV/share with limited transactions

• Top priority: Class A office assets

• Financially and/or operationally distressed

• Focus on Atlanta, Dallas, Austin, Houston

• Exceptional platform, strong relationships, proven market knowledge

• Diverse economies with very positive long term trends

Financing Options

• Cash generated from ongoing sale of non-core assets

• Mortgage debt

• $350 million credit facility

• Deal specific equity offering

Project Profile

American Cancer Society Center

     Atlanta, Georgia

• 993,000-square-foot Class A office building adjacent to Centennial Park in Downtown Atlanta

• Developed by a competitor in 1990 for $150 million

• Asset declined to 50% leased by late 1990s

• Cousins purchased the building for $71 million in 1999

• Prior to closing, Cousins executed a 300,000-square-foot lease with BellSouth

• 100% leased within 12 months

• Produced NOI in excess of $13 million in 2009 on total basis of $95 million

Corporate Office:
191 Peachtree Street NE, Suite 3600
Atlanta, GA 30303-1740
Phone: (404) 407-1000 • Fax: (404) 407-1002

Dallas Office:
5215 N. O’Connor Boulevard, Suite 350
Irving, Texas 75039
Phone: (972) 432-3600 • Fax: (972) 432-3650

Austin Office:
6300 Bee Cave Road • Building Two, Suite 220
Austin, Texas 78746
Phone: (512) 477-3434 • Fax: (512) 477-3940

Statements above under Key Objectives and Acquisition Opportunities are forward-looking statements within the meaning of the federal securities laws. These statements represent goals and objectives and are not intended as guidance or projections of future results. Such statements are subject to uncertainties and risks, including risks detailed from time to time in our filings with the SEC. We can give no assurance that our goals will be achieved. Further, we undertake no obligation to publicly update or revise any forward-looking statement.

Unless otherwise noted all information discussed herein is as of March 31, 2010.