COUSINS PROPERTIES INCORPORATED

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits


Exhibit Number		Description
99.1*		Cousins Properties Incorporated Press Release dated January 26, 2004.

99.2*		Cousins Properties Incorporated Quarterly Supplemental Information for the Quarter Ended December 31, 2003.

99.3		Corrected schedule of “Square Feet Expiring” to Cousins Properties Incorporated Quarterly Supplemental Information for the Quarter Ended December 31, 2003.

Previously filed by Cousins Properties Incorporated in its Report on Form 8-K filed with the Securities & Exchange Commission on January 26, 2004.

On January 26, 2004, Cousins Properties Incorporated (the “Company”) issued a press release containing information about the Company’s financial condition and results of operations for the quarter and year ended December 31, 2003. A copy of the Company’s press release was furnished as Exhibit 99.1 to a Current Report on Form 8-K filed by the Company on January 26, 2004. A copy of the Company’s Quarterly Supplemental Information was furnished as Exhibit 99.2 to the same Current Report on Form 8-K.

This Amendment No. 1 to Current Report on Form 8-K/A amends the Report on Form 8-K filed by the Company on January 26, 2004 to correct typographical errors in the “% of Leased Space” line on the Office and Medical Office pages of the schedule entitled “Square Feet Expiring.” The typographical errors were as follows:


					Previously
					Filed			Corrected
Office:

2004
	Joint Venture:
		% of Leased Space				26	%		6	%
	Total (including Company’s
		Share of Joint Venture Properties):
			% of Leased Space			5	%		6	%

Medical Office:

		2010
			Consolidated:
				% of Leased Space		5	%		4	%
		2007
			Joint Venture:
				% of Leased Space		18	%		17	%
		2009
			Total (including Company’s
				Share of Joint Venture Properties):
				% of Leased Space		23	%		22	%

The corrected “Square Feet Expiring” schedule is attached hereto as Exhibit 99.3 to this Amendment No. 1 to Current Report on Form 8-K/A.

The information contained in this Amendment No. 1 to Current Report on Form 8-K/A, including exhibits, shall not be deemed “filed” with the Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended.

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

EX-99.3 3 g86840a1exv99w3.htm EX-99.3 SCHEDULE OF SQUARE FEET EXPIRING EX-99.3 SCHEDULE OF SQUARE FEET EXPIRING

As of December 31, 2003, the Company’s office portfolio included 34 commercial office buildings, excluding all buildings currently under construction and/or in lease-up and One Ninety One Peachtree Tower, as it is less than 10% owned by the Company. The weighted average remaining lease term of these office buildings was approximately seven years as of December 31, 2003. Most of the Company’s leases in these buildings provide for pass through of operating expenses and contractual rents which escalate over time. The leases expire as follows:


																												2013
																												&
	2004			2005			2006			2007			2008			2009			2010			2011			2012			Thereafter			Total

Consolidated:
Square Feet Expiring (1)		170,866			272,470			415,201			201,979			427,110			573,511			318,934			85,410			344,836			695,023			3,505,340	(2)
% of Leased Space		5	%		8	%		12	%		6	%		12	%		16	%		9	%		2	%		10	%		20	%		100	%
Annual Contractual Rent (000’s) (3)	$	2,971		$	4,558		$	6,662		$	3,444		$	8,595		$	9,956		$	8,346		$	1,359		$	10,934		$	16,649		$	73,474
Annual Contractual Rent/Sq. Ft. (3)	$	17.39		$	16.73		$	16.05		$	17.05		$	20.12		$	17.36		$	26.17		$	15.91		$	31.71		$	23.95		$	20.96
Joint Venture:
Square Feet Expiring (1)		378,295			496,325			590,615			594,067			223,972			483,261			170,450			244,171			1,389,383			2,284,055			6,854,594	(4)
% of Leased Space		6	%		7	%		9	%		9	%		3	%		7	%		2	%		4	%		20	%		33	%		100	%
Annual Contractual Rent (000’s) (3)	$	4,767		$	8,385		$	10,506		$	15,011		$	3,644		$	10,541		$	3,990		$	4,868		$	31,127		$	46,729		$	139,568
Annual Contractual Rent/Sq. Ft. (3)	$	12.60		$	16.89		$	17.79		$	25.27		$	16.27		$	21.81		$	23.41		$	19.94		$	22.40		$	20.46		$	20.36
Total (including Company’s share of Joint Venture Properties):
Square Feet Expiring (1)		436,630			483,921			703,378			501,498			530,214			809,974			374,036			210,950			1,039,612			1,812,941			6,903,154
% of Leased Space		6	%		7	%		10	%		7	%		8	%		12	%		6	%		3	%		15	%		26	%		100	%
Annual Contractual Rent (000’s) (3)	$	5,980		$	8,106		$	11,783		$	10,987		$	10,250		$	15,114		$	9,755		$	3,795		$	26,497		$	39,581		$	141,848
Annual Contractual Rent/Sq. Ft. (3)	$	13.70		$	16.75		$	16.75		$	21.91		$	19.33		$	18.66		$	26.08		$	17.99		$	25.49		$	21.83		$	20.55

(1)

Where a tenant has the option to cancel its lease without penalty, the lease expiration date used in the table above reflects the cancellation option date rather than the lease expiration date.

(2)

Rentable square feet leased as of December 31, 2003 out of approximately 4,028,000 total rentable square feet.

(3)

Annual Contractual Rent excludes the operating expense reimbursement portion of the rent payable. If the lease does not provide for pass through of such operating expense reimbursements, an estimate of operating expenses is deducted from the rental rate shown. The contractual rental rate shown is the estimated rate in the year of expiration.

(4)

Rentable square feet leased as of December 31, 2003 out of approximately 7,227,000 total rentable square feet.

As of December 31, 2003, the Company’s medical office portfolio included six medical office buildings. The weighted average remaining lease term of these medical office buildings was approximately eight years as of December 31, 2003. Most of the Company’s leases in the buildings provide for pass through of operating expenses and contractual rents which escalate over time. The leases expire as follows:


																												2013
																												&
	2004			2005			2006			2007			2008			2009			2010			2011			2012			Thereafter			Total

Consolidated:
Square Feet Expiring		33,636			23,836			15,272			32,538			39,723			125,538			17,865			30,354			2,010			144,197			464,969	(1)
% of Leased Space		7	%		5	%		3	%		7	%		9	%		27	%		4	%		7	%		0	%		31	%		100	%
Annual Contractual Rent (000’s) (2)	$	714		$	407		$	260		$	687		$	878		$	2,547		$	351		$	810		$	62		$	3,348		$	10,064
Annual Contractual Rent/Sq. Ft. (2)	$	21.24		$	17.09		$	17.03		$	21.10		$	22.11		$	20.29		$	19.63		$	26.68		$	30.98		$	23.22		$	21.65
Joint Venture:
Square Feet Expiring		0			3,445			0			68,996			1,017			27,269			7,175			14,687			79,733			193,596			395,918	(3)
% of Leased Space		0	%		1	%		0	%		17	%		0	%		7	%		2	%		4	%		20	%		49	%		100	%
Annual Contractual Rent (000’s) (2)	$	0		$	56		$	0		$	1,263		$	20		$	609		$	155		$	359		$	1,642		$	4,721		$	8,825
Annual Contractual Rent/Sq. Ft. (2)	$	0		$	16.40		$	0		$	18.31		$	19.87		$	22.34		$	21.59		$	24.45		$	20.59		$	24.39		$	22.29
Total (including Company’s share of Joint Venture Properties):
Square Feet Expiring		33,636			24,232			15,272			57,505			40,232			139,173			21,453			37,698			26,283			240,995			636,479
% of Leased Space		5	%		4	%		3	%		9	%		6	%		22	%		3	%		6	%		4	%		38	%		100	%
Annual Contractual Rent (000’s) (2)	$	714		$	414		$	260		$	1,159		$	888		$	2,851		$	428		$	989		$	523		$	5,709		$	13,935
Annual Contractual Rent/Sq. Ft. (2)	$	21.24		$	17.08		$	17.03		$	20.15		$	22.08		$	20.49		$	19.96		$	26.25		$	19.92		$	23.69		$	21.90

(1)

Rentable square feet leased as of December 31, 2003 out of approximately 512,000 total rentable square feet.

(2)

(3)

Rentable square feet leased as of December 31, 2003 out of approximately 427,000 total rentable square feet.

As of December 31, 2003, the Company’s retail portfolio included eight retail properties, excluding all properties currently under construction and/or in lease-up. The weighted average remaining lease term of these retail properties was approximately seven years as of December 31, 2003. Most of the major tenant leases in these retail properties provide for pass through of operating expenses and contractual rents which escalate over time. The leases expire as follows:


																												2013
																												&
	2004			2005			2006			2007			2008			2009			2010			2011			2012			Thereafter			Total

Consolidated:
Square Feet Expiring		33,586			82,982			65,007			14,568			5,735			17,111			79,323			53,606			18,004			179,077			548,999	(1)
% of Leased Space		6	%		15	%		12	%		3	%		1	%		3	%		15	%		10	%		3	%		32	%		100	%
Annual Contractual Rent (000’s) (2)	$	534		$	2,251		$	1,595		$	167		$	166		$	560		$	2,009		$	644		$	564		$	3,631		$	12,121
Annual Contractual Rent/Sq. Ft. (2)	$	15.91		$	27.12		$	24.54		$	11.48		$	28.88		$	32.71		$	25.33		$	12.02		$	31.35		$	20.28		$	22.08
Joint Venture:
Square Feet Expiring		26,600			50,695			167,790			79,005			55,721			39,155			101,551			142,866			236,849			360,860			1,261,092	(3)
% of Leased Space		2	%		4	%		13	%		6	%		5	%		3	%		8	%		11	%		19	%		29	%		100	%
Annual Contractual Rent (000’s) (2)	$	572		$	722		$	2,298		$	1,658		$	1,041		$	561		$	1,159		$	2,186		$	3,588		$	6,057		$	19,842
Annual Contractual Rent/Sq. Ft. (2)	$	21.50		$	14.25		$	13.70		$	20.98		$	18.68		$	14.33		$	11.41		$	15.30		$	15.15		$	16.79		$	15.73
Total (including Company’s share of Joint Venture Properties):
Square Feet Expiring		37,220			90,352			104,532			47,956			46,794			26,691			93,790			78,754			78,019			240,073			844,181
% of Leased Space		5	%		11	%		12	%		6	%		6	%		3	%		11	%		9	%		9	%		28	%		100	%
Annual Contractual Rent (000’s) (2)	$	615		$	2,369		$	2,371		$	927		$	985		$	756		$	2,192		$	1,153		$	1,722		$	4,722		$	17,812
Annual Contractual Rent /Sq. Ft. (2)	$	16.51		$	26.22		$	22.68		$	19.34		$	21.06		$	28.31		$	23.37		$	14.64		$	22.07		$	19.67		$	21.10

(1)

Gross leasable area leased as of December 31, 2003 out of approximately 600,000 total gross leasable area.

(2)

Annual Contractual Rent excludes the operating expense reimbursement portion of the rent payable and any percentage rents due. If the lease does not provide for pass through of such operating expense reimbursements, an estimate of operating expenses is deducted from the rental rate shown. The contractual rental rate shown is the estimated rate in the year of expiration.

(3)

Gross leasable area leased as of December 31, 2003 out of approximately 1,286,000 total gross leasable area.


Date: January 27, 2004		COUSINS PROPERTIES INCORPORATED



		By: /s/ Tom G. Charlesworth Tom G. Charlesworth Executive Vice President, Chief Financial Officer and Chief Investment Officer (Duly Authorized Officer and Principal Financial Officer)