10-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

(Amendment No. 1)

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

For the fiscal year ended December 31, 2011

or

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

For the transition period from                    to                    

Commission file number 001-11312

COUSINS PROPERTIES INCORPORATED

(Exact name of registrant as specified in its charter)

Georgia	58-0869052
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

191 Peachtree Street NE, Suite 500, Atlanta, Georgia 30303-1740

(Address of principal executive offices)(Zip Code)

(404) 407-1000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Name of Exchange on which registered
Common Stock ($1 par value)	New York Stock Exchange
7.75% Series A Cumulative Redeemable Preferred Stock ($1 par value)	New York Stock Exchange
7.50% Series B Cumulative Redeemable Preferred Stock ($1 par value)	New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.     Yes  ¨    No  x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.    Yes  ¨    No  x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     Yes  x    No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨  (Do not check if smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes  ¨    No  x

As of June 30, 2011, the aggregate market value of the common stock of Cousins Properties Incorporated held by non-affiliates was $763,722,037 based on the closing sales price as reported on the New York Stock Exchange. As of February 14, 2012, 104,142,932 shares of common stock were outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Registrant’s proxy statement for the annual stockholders meeting to be held on May 8, 2012 are incorporated by reference into Part III of this Form 10-K.

Explanatory Note

This Amendment No. 1 to the Cousins Properties Incorporated Annual Report on Form 10-K for the year ended December 31, 2011, as filed with the Securities and Exchange Commission on February 21, 2012 (the “Form 10-K”), is solely to furnish Exhibit 101 to the Form 10-K. Exhibit 101 provides the financial statement and related notes formatted in XBRL (Extensible Business Reporting Language).

No other changes have been made to the Form 10-K. This Amendment No. 1 to the Form 10-K speaks as of the original filing date of the Form 10-K, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-K.

Item 15. Exhibits

(b) Exhibits

3.1	Restated and Amended Articles of Incorporation of the Registrant, as amended August 9, 1999, filed as Exhibit 3.1 to the Registrant’s Form 10-Q for the quarter ended June 30, 2002, and incorporated herein by reference.
3.1.1	Articles of Amendment to Restated and Amended Articles of Incorporation of the Registrant, as amended July 22, 2003, filed as Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed on July 23, 2003, and incorporated herein by reference.
3.1.2	Articles of Amendment to Restated and Amended Articles of Incorporation of the Registrant, as amended December 15, 2004, filed as Exhibit 3(a)(i) to the Registrant’s Form 10-K for the year ended December 31, 2004, and incorporated herein by reference.
3.1.3	Articles of Amendment to Restated and Amended Articles of Incorporation of the Registrant, dated May 4, 2010, filed as Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed on May 10, 2010, and incorporated herein by reference.
3.2	Bylaws of the Registrant, as amended and restated June 6, 2009, filed as Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed on June 8, 2009, and incorporated herein by reference.
4(a)	Dividend Reinvestment Plan as restated as of March 27, 1995, filed in the Registrant’s Form S-3 dated March 27, 1995, and incorporated herein by reference.
10(a)(i)*	Cousins Properties Incorporated 1989 Stock Option Plan, renamed the 1995 Stock Incentive Plan and approved by the Stockholders on May 6, 1996, filed as Exhibit 4.1 to the Registrant’s Form S-8 dated December 1, 2004, and incorporated herein by reference.
10(a)(ii)*	Cousins Properties Incorporated 1999 Incentive Stock Plan, as amended and restated, approved by the Stockholders on May 6, 2008, filed as Annex B to the Registrant’s Proxy Statement dated April 13, 2008, and incorporated herein by reference.
10(a)(iii)*	Cousins Properties Incorporated 2005 Restricted Stock Unit Plan, filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated December 9, 2005, and incorporated herein by reference.
10(a)(iv)*	Amendment No. 1 to Cousins Properties Incorporated 2005 Restricted Stock Unit Plan, filed as Exhibit 10(a)(iii) to the Registrant’s Form 10-Q for the quarter ended March 31, 2006, and incorporated herein by reference.
10(a)(v)*	Form of Restricted Stock Unit Certificate (with Performance Criteria), filed as Exhibit 10(a)(iv) to the Registrant’s Form 10-Q for the quarter ended March 31, 2006, and incorporated herein by reference.
10(a)(vi)*	Cousins Properties Incorporated 1999 Incentive Stock Plan – Form of Key Employee Non-Incentive Stock Option and Stock Appreciation Right Certificate, amended effective December 6, 2007, filed as Exhibit 10(a)(vi) to the Registrant’s Form 10-K for the year ended December 31, 2007, and incorporated herein by reference.

10(a)(vii)*	Cousins Properties Incorporated 1999 Incentive Stock Plan – Form of Key Employee Incentive Stock Option and Stock Appreciation Right Certificate, amended effective December 6, 2007, filed as Exhibit 10(a)(vii) to the Registrant’s Form 10-K for the year ended December 31, 2007, and incorporated herein by reference.
10(a)(viii)*	Cousins Properties Incorporated 2005 Restricted Stock Unit Plan – Form of Restricted Stock Unit Certificate, filed as Exhibit 10.3 to the Registrant’s Current Report on Form 8-K dated December 11, 2006, and incorporated herein by reference.
10(a)(ix)*	Amendment No. 2 to the Cousins Properties Incorporated 2005 Restricted Stock Unit Plan, filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on August 18, 2006, and incorporated herein by reference.
10(a)(x)*	Cousins Properties Incorporated 2005 Restricted Stock Unit Plan – Form of Restricted Stock Unit Certificate for Directors, filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed on August 18, 2006, and incorporated herein by reference.
10(a)(xi)*	Form of Change in Control Severance Agreement, filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on August 31, 2007, and incorporated herein by reference.
10(a)(xii)*	Amendment No. 1 to the Cousins Properties Incorporated 1999 Incentive Stock Plan, filed as Exhibit 10(a)(ii) to the Registrant’s Form 10-Q for the quarter ended March 31, 2008, and incorporated herein by reference.
10(a)(xiii)*	Amendment No. 4 to the Cousins Properties Incorporated 2005 Restricted Stock Unit Plan dated September 8, 2008, filed as Exhibit 10(a)(xiii) to the Registrant’s Form 10-K for the year ended December 31, 2008, and incorporated herein by reference.
10(a)(xiv)*	Amendment No. 5 to the Cousins Properties Incorporated 2005 Restricted Stock Unit Plan dated February 16, 2009, filed as Exhibit 10(a)(xiv) to the Registrant’s Form 10-K for the year ended December 31, 2008, and incorporated herein by reference.
10(a)(xv)*	Form of Amendment Number One to Change in Control Severance Agreement filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K dated May 12, 2009, and incorporated herein by reference.
10(a)(xvi)*	Amendment Number 6 to the Cousins Properties Incorporated 2005 Restricted Stock Unit Plan filed as Exhibit 10.3 to the Registrant’s Current Report on Form 8-K dated May 12, 2009, and incorporated herein by reference.
10(a)(xvii)*	Form of Cousins Properties Incorporated Cash Long Term Incentive Award Certificate filed as Exhibit 10.3 to the Registrant’s Current Report on Form 8-K dated May 12, 2009, and incorporated herein by reference.

10(a)(xviii)*	Cousins Properties Incorporated 2009 Incentive Stock Plan, as approved by the Stockholders on May 12, 2009, filed as Annex B to the Registrant’s Proxy Statement dated April 3, 2009, and incorporated herein by reference.
10(a)(xix)*	Cousins Properties Incorporated Director Non-Incentive Stock Option and Stock Appreciation Right Certificate under the Cousins Properties Incorporated 2009 Incentive Stock Plan, filed as Exhibit 10.2 to the Registrant’s Form 10-Q for the quarter ended June 30, 2009, and incorporated herein by reference.
10(a)(xx)*	Cousins Properties Incorporated 2005 Restricted Stock Unit Plan – Form of Restricted Stock Unit Certificate for 2010-2012 Performance Period filed as Exhibit 10(a)(xx) to the Registrant’s Form 10-K for the year ended December 31, 2009, and incorporated herein by reference.
10(a)(xxi)*	Cousins Properties Incorporated 2009 Incentive Stock Plan – Form of Key Employee Non-Incentive Stock Option Certificate filed as Exhibit 10(a)(xxi) to the Registrant’s Form 10-K for the year ended December 31, 2009, and incorporated herein by reference.
10(a)(xxii)*	Cousins Properties Incorporated 2009 Incentive Stock Plan – Form of Stock Grant Certificate filed as Exhibit 10(a)(xxii) to the Registrant’s Form 10-K for the year ended December 31, 2009, and incorporated herein by reference.
10(a)(xxiii)*	Form of New Change in Control Severance Agreement, filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on January 7, 2011, and incorporated herein by reference.
10(a)(xxiv)*	Form of Amendment Number Two to Change in Control Severance Agreement, filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed on January 7, 2011, and incorporated herein by reference.
10(a)(xxv)*	Cousins Properties Incorporated 2009 Incentive Stock Plan – Form of Stock Grant Certificate filed as Exhibit 10(a)(xxv) to the Registrant’s Form 10-K for the year ended December 31, 2010, and incorporated herein by reference.
10(a)(xxvi)*	Cousins Properties Incorporated 2009 Incentive Stock Plan – Form of Key Employee Non-Incentive Stock Option Certificate filed as Exhibit 10(a)(xxvi) to the Registrant’s Form 10-K for the year ended December 31, 2010, and incorporated herein by reference.
10(a)(xxvii)*	Cousins Properties Incorporated 2009 Incentive Stock Plan – Form of Key Employee Incentive Stock Option Certificate filed as Exhibit 10(a)(xxvii) to the Registrant’s Form 10-K for the year ended December 31, 2010, and incorporated herein by reference.
10(a)(xxviii)*	Cousins Properties Incorporated 2005 Restricted Stock Unit Plan – Form of Restricted Stock Unit Certificate for 2011-2013 Performance Period filed as Exhibit 10(a)(xxviii) to the Registrant’s Form 10-K for the year ended December 31, 2010, and incorporated herein by reference.
10(a)(xxviv)*	Cousins Properties Incorporated 2005 Restricted Stock Unit Plan – Form of Restricted Stock Unit Certificate for 2012-2016 Performance Period filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on February 3, 2012, and incorporated herein by reference.

10(a)(xxvv)*	Cousins Properties Incorporated 2009 Incentive Stock Plan – Form of Key Employee Incentive Stock Option Certificate filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed on February 3, 2012, and incorporated herein by reference.
10(d)*	Retirement and Consulting Agreement and General Release with James A. Fleming dated August 9, 2010, filed as Exhibit 10.1 to the Registrant’s Form 10-Q for the quarter ended June 30, 2010, and incorporated herein by reference.
10(e)	Amended and Restated Credit Agreement, dated as of August 29, 2007, among Cousins Properties Incorporated as the Principal Borrower (and the Borrower Parties, as defined, and the Guarantors, as defined); Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer; Banc of America Securities LLC as Sole Lead Arranger and Sole Book Manager; Eurohypo AG, as Syndication Agent; PNC Bank, N. A., Wachovia Bank, N. A., and Wells Fargo Bank, as Documentation Agents; Norddeutsche Landesbank Girozentrale, as Managing Agent; Aareal Bank AG, Charter One Bank, N.A., and Regions Bank, as Co-Agents; and the Other Lenders Party Hereto, filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on August 30, 2007, and incorporated herein by reference.
10(f)	Loan Agreement dated as of August 31, 2007, between Cousins Properties Incorporated, a Georgia corporation, as Borrower and JP Morgan Chase Bank, N.A., a banking association chartered under the laws of the United States of America, as Lender, filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on September 7, 2007, and incorporated herein by reference.
10(g)	Loan Agreement dated as of October 16, 2007, between 3280 Peachtree I LLC, a Georgia limited liability corporation, as Borrower and The Northwestern Mutual Life Insurance Company, as Lender, filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed October 17, 2007, and incorporated herein by reference.
10(h)	Contribution and Formation Agreement between Cousins Properties Incorporated, CP Venture Three LLC and The Prudential Insurance Company of America, including Exhibit U thereto, filed as Exhibit 10.1 to the Registrant’s Form 8-K filed on May 4, 2006, and incorporated herein by reference.
10(i)	Form of Indemnification Agreement, filed as Exhibit 10.1 to the Registrant’s Form 8-K dated June 18, 2007, and incorporated herein by reference.
10(j)	Underwriting Agreement dated September 15, 2009 by and among Cousins Properties Incorporated, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc., as representatives of the several underwriters, filed as Exhibit 1.1 to the Registrant’s Current Report on Form 8-K filed on September 17, 2009, and incorporated herein by reference.

10(k)	First Amendment dated as of February 19, 2010 to the Amended and Restated Credit Agreement dated August 29, 2007, among Cousins Properties Incorporated as the Principal Borrower (and the Co-Borrowers, as defined, and the Guarantors, as defined); Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer; Banc of America Securities LLC, as Sole Lead Arranger and Sole Book Manager; Eurohypo AG, New York Branch, as Syndication Agent; PNC Bank, N. A., Wachovia Bank, N. A., and Wells Fargo Bank, N. A., as Documentation Agents; Norddeutsche Landesbank Girozentrale, as Managing Agent; and Aareal Bank AG, Charter One BANK, N.A. and Regions Bank, as Co-Agents, filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on February 25, 2010, and incorporated herein by reference.
11^	Computation of Per Share Earnings. Data required by SFAS No. 128, “Earnings Per Share,” is provided in Note 2 of Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K, and incorporated herein by reference.
12^	Statement Regarding Computation of Earnings to Combined Fixed Charges and Preferred Dividends.
21^	Subsidiaries of the Registrant.
23^	Consent of Independent Registered Public Accounting Firm.
31.1^	Certification of the Chief Executive Officer Pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2^	Certification of the Chief Financial Officer Pursuant to Rule 13a-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1^	Certification of the Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2^	Certification of the Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101**	The following financial information for the Registrant, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Equity, (iv) the Consolidated Statements of Cash Flows, and (v) the Notes to Consolidated Financial Statements, tagged as blocks of text.

^ Previously filed.

* Indicates a management contract or compensatory plan or arrangement.

** Furnished herewith.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Cousins Properties Incorporated
	(Registrant)
Dated: March 20, 2012		BY:	/s/ Gregg D. Adzema
			Gregg D. Adzema
			Executive Vice President and Chief Financial Officer (Duly Authorized Officer)

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Significant Accounting Policies (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Share Based Payment Arrangements Expense [Abstract]
Expensed	$ 2,359	$ 4,395	$ 5,705
Amounts capitalized	(191)	(282)	(451)
Total share based payment	$ 2,168	$ 4,113	$ 5,254

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Equity and Stock Based-Compensation (Details 2) (Restricted Stock [Member], USD $)	12 Months Ended
	Dec. 31, 2011
Restricted Stock [Member]
Summary of Restricted Stock activity
Outstanding at beginning of year	220,000
Average Grant Date Fair Value, Non-vested restricted stock at beginning of year	$ 7.60
Number of Shares, Granted	244,000
Average Grant Date Fair Value Granted	$ 8.43
Number of Shares, Vested	(6,000)
Average Grant Date Fair Value, Vested	$ 23.42
Number of Shares, Forfeited	(19,000)
Average Grant Date Fair Value, Forfeited	$ 7.66
Outstanding at end of year	439,000
Average Grant Date Fair Value, Non-vested restricted stock at end of year	$ 7.83

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Investment in Unconsolidated Joint Ventures (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
SUMMARY OF FINANCIAL POSITION:
Total Assets	$ 1,130,788	$ 1,185,128
Total Debt	392,850	394,018
Total Equity	666,004	716,234
Company's Investment	148,396	154,454
SUMMARY OF OPERATIONS:
Total Revenues	154,592	168,197	133,075
Net Income (Loss)	(38,591)	24,869	(64,959)
Company's Share of Net Income (Loss)	(17,691)	9,493	(17,639)
CP Venture IV Holdings LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	301,352	313,603
Total Debt	36,031	36,620
Total Equity	255,881	267,085
Company's Investment	14,694	15,364
SUMMARY OF OPERATIONS:
Total Revenues	31,020	31,343	32,698
Net Income (Loss)	4,008	3,955	4,555
Company's Share of Net Income (Loss)	1,054	1,034	1,142
Charlotte Gateway Village, LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	146,854	154,200
Total Debt	83,097	97,030
Total Equity	62,423	54,834
Company's Investment	10,333	10,366
SUMMARY OF OPERATIONS:
Total Revenues	32,442	31,812	31,276
Net Income (Loss)	8,802	7,829	6,997
Company's Share of Net Income (Loss)	1,176	1,176	1,176
CF Murfreesboro Associates [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	125,668	129,738
Total Debt	98,922	103,378
Total Equity	24,810	24,263
Company's Investment	14,421	14,246
SUMMARY OF OPERATIONS:
Total Revenues	13,081	13,785	12,205
Net Income (Loss)	547	1,032	1,474
Company's Share of Net Income (Loss)	25	280	539
Palisades West LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	124,588	129,378
Total Debt	0	0
Total Equity	81,635	80,767
Company's Investment	42,616	42,256
SUMMARY OF OPERATIONS:
Total Revenues	16,230	13,588	12,677
Net Income (Loss)	5,858	4,668	5,303
Company's Share of Net Income (Loss)	2,858	2,265	2,588
CP Venture LLC entities [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	102,178	106,066
Total Debt	0	0
Total Equity	99,942	104,067
Company's Investment	3,343	3,779
SUMMARY OF OPERATIONS:
Total Revenues	19,061	18,394	18,038
Net Income (Loss)	8,459	8,899	8,552
Company's Share of Net Income (Loss)	860	921	882
MSREF/Cousins Terminus 200 LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	92,421	65,164
Total Debt	68,562	46,169
Total Equity	17,967	13,956
Company's Investment	3,593	2,791
SUMMARY OF OPERATIONS:
Total Revenues	6,093	1,873
Net Income (Loss)	(3,453)	(1,967)
Company's Share of Net Income (Loss)	(693)	(393)
CL Realty, L.L.C. [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	44,481	86,657
Total Debt	1,056	2,663
Total Equity	42,932	82,534
Company's Investment	22,413	39,928
SUMMARY OF OPERATIONS:
Total Revenues	9,141	28,013	2,698
Net Income (Loss)	(28,508)	227	(8,500)
Company's Share of Net Income (Loss)	(11,971)	3,543	(2,552)
Cousins Watkins LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	56,096	57,184
Total Debt	28,571	28,850
Total Equity	26,893	28,334
Company's Investment	16,321	14,850
SUMMARY OF OPERATIONS:
Total Revenues	4,831
Net Income (Loss)	42	(1,072)
Company's Share of Net Income (Loss)	2,410
Temco Associates, LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	23,653	60,608
Total Debt	2,787	2,929
Total Equity	20,646	57,475
Company's Investment	7,363	22,713
SUMMARY OF OPERATIONS:
Total Revenues	653	2,180	1,420
Net Income (Loss)	(37,494)	210	(2,728)
Company's Share of Net Income (Loss)	(15,074)	104	(1,357)
EP I LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	33,343	0
Total Debt	1	0
Total Equity	29,137	0
Company's Investment	24,827	0
SUMMARY OF OPERATIONS:
Net Income (Loss)	(6)
Company's Share of Net Income (Loss)	(4)
Crawford Long - CPI, LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	32,739	34,408
Total Debt	47,631	48,701
Total Equity	(16,137)	(15,341)
Company's Investment	(6,873)	(6,431)
SUMMARY OF OPERATIONS:
Total Revenues	11,904	11,415	11,324
Net Income (Loss)	2,404	1,939	1,784
Company's Share of Net Income (Loss)	1,199	969	890
Wildwood Associates [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	21,224	21,220
Total Debt	0	0
Total Equity	21,221	21,216
Company's Investment	(1,639)	(1,642)
SUMMARY OF OPERATIONS:
Total Revenues	1	55
Net Income (Loss)	(155)	(129)	(133)
Company's Share of Net Income (Loss)	(77)	(65)	(67)
Ten Peachtree Place Associates [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	22,523	20,980
Total Debt	26,192	26,782
Total Equity	(4,145)	(6,263)
Company's Investment	(3,679)	(4,581)
SUMMARY OF OPERATIONS:
Total Revenues	7,178	7,776	7,436
Net Income (Loss)	1,161	981	718
Company's Share of Net Income (Loss)	596	506	375
TRG Columbus Development Venture, Ltd. [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	2,450	3,574
Total Debt	0	0
Total Equity	1,857	2,115
Company's Investment	31	58
SUMMARY OF OPERATIONS:
Total Revenues	26	1,091	506
Net Income (Loss)	(7)	783	30
Company's Share of Net Income (Loss)	72	473	115
Terminus 200 LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	789	789
Total Debt	0	0
Total Equity	789	789
Company's Investment	0	0
SUMMARY OF OPERATIONS:
Total Revenues		533	654
Net Income (Loss)	1	55	(82,441)
Company's Share of Net Income (Loss)			(20,954)
Pine Mountain Builders, LLC [Member]
SUMMARY OF FINANCIAL POSITION:
Total Assets	429	1,559
Total Debt	0	896
Total Equity	153	403
Company's Investment	632	757
SUMMARY OF OPERATIONS:
Total Revenues	2,931	6,339	2,143
Net Income (Loss)	(250)	(2,541)	(254)
Company's Share of Net Income (Loss)	(125)	(1,316)	(142)
Other [Member]
SUMMARY OF OPERATIONS:
Net Income (Loss)			(316)
Company's Share of Net Income (Loss)	$ 3	$ (4)	$ (274)

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Notes and Other Receivables (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Components of Notes and other receivables
Notes receivable, net of allowance for doubtful accounts of $3,109 and $3,671 in 2011 and 2010, respectively	$ 3,286	$ 3,797
Cumulative rental revenue recognized on a straight- line basis in excess of revenue accrued in accordance with lease terms (see Note 2)	37,141	34,231
Tenant and Other Receivables	10,064	12,983
Allowance for doubtful accounts related to straight-line rents, tenant and other receivables	(1,991)	(2,616)
Total notes and other receivables	$ 48,500	$ 48,395

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Equity and Stock Based-Compensation (Details 3) (Restricted Stock Units (RSUs) [Member])	12 Months Ended
	Dec. 31, 2011
Restricted Stock Units (RSUs) [Member]
Summary of Regular RSU activity
Outstanding at beginning of year	144,000
Number of Shares, Granted	57,000
Number of Shares, Vested	(55,000)
Number of Shares, Forfeited	(3,000)
Outstanding at end of year	143,000

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Noncontrolling Interests (Details 1) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Components on noncontrolling interests
Net income attributable to nonredeemable noncontrolling interests	$ 3,525	$ 2,364	$ 2,426
Net income (loss) attributable to redeemable noncontrolling interests	1,433	176	(174)
Net income attributable to noncontrolling interests	$ 4,958	$ 2,540	$ 2,252

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Notes Payable, Commitments and Contingencies (Details 4) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011
Lease Commitments
2012	$ 589
2013	274
2014	206
2015	196
2016	146
Thereafter	15,000
Total	$ 16,411

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Other Assets (Tables)

12 Months Ended

Dec. 31, 2011

Other Assets [Abstract]

Other Assets

		September 30,		September 30,
	2011		2010
Investment in Verde Realty	$	5,868	$	9,376
FF&E and leasehold improvements, net of accumulated depreciation of $17,814 and $16,117 in 2011 and 2010, respectively		4,736		4,673
Predevelopment costs and earnest money		581		7,039
Lease inducements, net of accumulated amortization of $3,696 and $2,991 in 2011 and 2010, respectively		12,219		11,899
Loan closing costs, net of accumulated amortization of $4,026 and $3,109 in 2011 and 2010, respectively		1,435		2,703
Prepaid expenses and other assets		2,168		2,296
Intangible Assets:
Goodwill		5,155		5,430
Above market leases, net of accumulated amortization of $8,845 and $8,741 in 2011 and 2010, respectively		4,414		526
In-place leases, net of accumulated amortization of $2,833 and $2,492 in 2011 and 2010, respectively		16,144		322
	$	52,720	$	44,264

Aggregate Amortization of Intangible Assets and Liabilities

		September 30,			September 30,			September 30,		September 30,		September 30,
	Below Market Rents			Above Market Ground Lease			Above Market Rents		In Place Leases		Total
2012	$	(274	)	$	(9	)	$	674	$	2,633	$	3,024
2013		(249	)		(9	)		674		2,465		2,881
2014		(244	)		(9	)		674		2,324		2,745
2015		(231	)		(9	)		658		2,200		2,618
2016		(200	)		(9	)		390		1,510		1,691
Thereafter		(562	)		(633	)		1,344		5,012		5,161
	$	(1,760	)	$	(678	)	$	4,414	$	16,144	$	18,120
Weighted average remaining lease term		8 years			75 years			8 years		8 years		10 years

Summary of Goodwill

		September 30,			September 30,
	2011			2010
Beginning Balance	$	5,430		$	5,450
Allocated to property sales		(275	)		(20	)
Ending Balance	$	5,155		$	5,430

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Common Stock (Details) (USD $) In Thousands, except Share data in Millions, unless otherwise specified	1 Months Ended	12 Months Ended
	Sep. 30, 2009	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Common Stock (Textual) [Abstract]
Common shares issued in offering	46
Common stock issued, net of expenses	$ 318,400	$ 18	$ (95)	$ 318,406

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Other Assets (Details 1) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011
Future Amortization of Intangible Assets and Liabilities
2012	$ 3,024
2013	2,881
2014	2,745
2015	2,618
2016	1,691
Thereafter	5,161
Total of aggregate amortization of intangible assets and liabilities	18,120
Weighted average remaining lease term (In Years)	10 years
Below Market Rents [Member]
Future Amortization of Intangible Assets and Liabilities
2012	(274)
2013	(249)
2014	(244)
2015	(231)
2016	(200)
Thereafter	(562)
Total of aggregate amortization of intangible assets and liabilities	(1,760)
Weighted average remaining lease term (In Years)	8 years
Above Market Ground Lease [Member]
Future Amortization of Intangible Assets and Liabilities
2012	(9)
2013	(9)
2014	(9)
2015	(9)
2016	(9)
Thereafter	(633)
Total of aggregate amortization of intangible assets and liabilities	(678)
Weighted average remaining lease term (In Years)	75 years
Above Market Rents [Member]
Future Amortization of Intangible Assets and Liabilities
2012	674
2013	674
2014	674
2015	658
2016	390
Thereafter	1,344
Total of aggregate amortization of intangible assets and liabilities	4,414
Weighted average remaining lease term (In Years)	8 years
In Place Leases [Member]
Future Amortization of Intangible Assets and Liabilities
2012	2,633
2013	2,465
2014	2,324
2015	2,200
2016	1,510
Thereafter	5,012
Total of aggregate amortization of intangible assets and liabilities	$ 16,144
Weighted average remaining lease term (In Years)	8 years

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Equity and Stock Based-Compensation (Details 5) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Summary of Distribution of Taxable Income
Common and preferred dividends paid	$ 31,556	$ 49,365	$ 55,328
Dividends treated as taxable compensation	(71)	(79)	(28)
Portion of dividends declared in current year, and paid in current year, which was applied to the prior year distribution requirements	(304)	(1,606)
Portion of dividends declared in subsequent year, and paid in subsequent year, which apply to current year distribution requirements	1,075	304	1,606
Dividends applied to meet current year REIT distribution requirements	$ 32,256	$ 47,984	$ 56,906

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Consolidated Statements of Cash Flows Supplemental Information (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Consolidated Statements of Cash Flows Supplemental Information [Abstract]
Interest paid, net of amounts capitalized	$ 25,960	$ 35,616	$ 40,219
Income taxes refunded, net of payments	(551)	(3,308)	(891)
Non Cash Transactions
Transfer from other assets to investment in joint venture	6,193
Transfer from land to operating properties	5,159	1,410
Decrease in land and notes payable due to foreclosure	3,374
Adjustments to Property Expenditures for Amounts Included in Accounts Payable	1,559	1,976	5,093
Issuance of common stock for payment of common dividends		(95)	0
Land collateral received from note receivable default		5,030
Increase in notes receivable for lease termination and land and lot sales		3,312
Transfer from notes receivable to multi-family residential units			8,167
Transfer from notes payable to redeemable noncontrolling interests			8,767
Transfer from other assets to land			2,440
Increase in notes payable upon consolidation of entities			11,918
Issuance of note payable for purchase of townhomes			3,150
Transfer from investment in joint venture to land upon consolidation of entities			9,116
Change in fair value of redeemable noncontrolling interests	$ 766	$ 378	$ (180)

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Real Estate and Accumulated Depreciation (Details Textual) (Buildings and Improvements [Member])	12 Months Ended
	Dec. 31, 2011 Y
Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation (Textual) [Abstract]
Minimum estimated useful life of buildings and improvements	24
Maximum estimated useful life of buildings and improvements	40

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Retirement Savings Plan (Details) (USD $)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Retirement Savings Plan (Textual) [Abstract]
Employer contribution matching percentage	3.00%
Employee vesting period in the retirement saving plan	Over three years
Company defined contribution plan	$ 748,000	$ 1,200,000	$ 1,400,000

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Noncontrolling Interests (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Components of redeemable noncontrolling interests in consolidated subsidiaries
Beginning Balance	$ 14,289	$ 12,591
Net income attributable to redeemable noncontrolling interests	1,433	176	(174)
Change in fair value of noncontrolling interests	766	378	(180)
Ending Balance	$ 2,763	$ 14,289	$ 12,591

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Notes and Other Receivables (Details Textual) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Notes and Other Receivables (Textual) [Abstract]
Allowance for doubtful accounts related to notes receivable	$ 3,109	$ 3,671

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Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Significant Accounting Policies [Abstract]

Company's share-based payment arrangements

		September 30,			September 30,			September 30,
	2011			2010			2009
Expensed	$	2,359		$	4,395		$	5,705
Amounts capitalized		(191	)		(282	)		(451	)
	$	2,168		$	4,113		$	5,254

Weighted average shares basic and diluted

		September 30,		September 30,		September 30,
	2011		2010		2009
Weighted average shares—basic		103,651		101,440		65,495
Dilutive potential common shares—stock options		—		—		—
Weighted average shares—diluted		103,651		101,440		65,495

Anti-dilutive Options

		September 30,		September 30,		September 30,
	2011		2010		2009
Anti-dilutive options		5,836		6,460		6,944

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Impairment Losses (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Impairment losses in cost and expenses on the statement of operations
Impairment Losses	$ 107,763	$ 2,554	$ 40,512
Impairment losses on investment in unconsolidated joint ventures
Impairment loss on investment in unconsolidated joint ventures	608		51,058
Other than temporary impairment losses within equity method investments
Other than temporary impairment losses within equity method investments	28,145	3,746	24,181
Temco [Member]
Impairment losses on investment in unconsolidated joint ventures
Impairment loss on investment in unconsolidated joint ventures	608		6,700
Other than temporary impairment losses within equity method investments
Other than temporary impairment losses within equity method investments	14,580		631
CL Realty [Member]
Impairment losses on investment in unconsolidated joint ventures
Impairment loss on investment in unconsolidated joint ventures			20,300
Other than temporary impairment losses within equity method investments
Other than temporary impairment losses within equity method investments	13,565	2,229	2,619
T200 [Member]
Impairment losses on investment in unconsolidated joint ventures
Impairment loss on investment in unconsolidated joint ventures			17,993
Other than temporary impairment losses within equity method investments
Other than temporary impairment losses within equity method investments			20,931
Glenmore [Member]
Impairment losses on investment in unconsolidated joint ventures
Impairment loss on investment in unconsolidated joint ventures			6,065
Pine Mountain Builders [Member]
Other than temporary impairment losses within equity method investments
Other than temporary impairment losses within equity method investments		1,517
Residential and land [Member]
Impairment losses in cost and expenses on the statement of operations
Impairment Losses	96,523
Operating properties [Member]
Impairment losses in cost and expenses on the statement of operations
Impairment Losses	7,632
Investment in Verde Realty [Member]
Impairment losses in cost and expenses on the statement of operations
Impairment Losses	3,508
60 N. Market/related note receivable [Member]
Impairment losses in cost and expenses on the statement of operations
Impairment Losses	100	586	1,600
Handy Road [Member]
Impairment losses in cost and expenses on the statement of operations
Impairment Losses		1,968
10 Terminus Place [Member]
Impairment losses in cost and expenses on the statement of operations
Impairment Losses			34,900
Company Airplane [Member]
Impairment losses in cost and expenses on the statement of operations
Impairment Losses			$ 4,012

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Notes Payable, Commitments and Contingencies (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Summary of terms of notes payable
Debt instrument description of variable rate basis, LIBOR	the spread over LIBOR was 2.0%
Debt instrument, basis spread on variable rate minimum	2.00%
Notes payable	$ 539,442	$ 509,509
Credit Facility, unsecured [Member]
Summary of terms of notes payable
Debt instrument description of variable rate basis, LIBOR	LIBOR
Debt instrument, Term	5 years
Maturity date of debt instrument	Aug. 29, 2012
Notes payable	198,250	105,400
Terminus 100 mortgage note [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	5.25%
Debt instrument, Term	12 years
Debt instrument, amortization period	30 years
Maturity date of debt instrument	Jan. 01, 2023
Notes payable	138,194	140,000
The American Cancer Society Center mortgage note [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	6.45%
Debt instrument, Term	10 years
Debt instrument, amortization period	30 years
Maturity date of debt instrument	Sep. 01, 2017
Notes payable	135,650	136,000
Meridian Mark Plaza mortgage note [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	6.00%
Debt instrument, Term	10 years
Debt instrument, amortization period	30 years
Maturity date of debt instrument	Aug. 01, 2020
Notes payable	26,554	26,892
100/200 North Point Center East mortgage note [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	5.39%
Debt instrument, Term	5 years
Debt instrument, amortization period	30 years
Maturity date of debt instrument	Jun. 01, 2012
Notes payable	24,478	24,830
Points at Waterview mortgage note [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	5.66%
Debt instrument, Term	10 years
Debt instrument, amortization period	25 years
Maturity date of debt instrument	Jan. 01, 2016
Notes payable	16,135	16,592
Callaway Gardens [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	4.13%
Maturity date of debt instrument	Nov. 18, 2013
Notes payable	180	173
Mahan Village LLC [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	3.25%
Debt instrument, Term	3 years
Maturity date of debt instrument	Sep. 12, 2014
Notes payable	1	0
333/555 North Point Center East mortgage note [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	7.00%
Debt instrument, Term	10 years
Debt instrument, amortization period	25 years
Maturity date of debt instrument	Nov. 01, 2011
Notes payable	0	26,412
Lakeshore Park Plaza mortgage note [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	5.89%
Debt instrument, Term	4 years
Debt instrument, amortization period	25 years
Maturity date of debt instrument	Aug. 01, 2012
Notes payable	0	17,544
600 University Park Place mortgage note [Member]
Summary of terms of notes payable
Interest rate on mortgage loan	7.38%
Debt instrument, Term	10 years
Debt instrument, amortization period	30 years
Maturity date of debt instrument	Aug. 10, 2011
Notes payable	0	12,292
Handy Road Associates, LLC [Member]
Summary of terms of notes payable
Debt instrument description of variable rate basis, LIBOR	Prime
Debt instrument, basis spread on variable rate minimum	1.00%
Debt instrument, Term	5 years
Debt instrument, interest rate, Minimum	6.00%
Maturity date of debt instrument	Mar. 30, 2011
Notes payable	$ 0	$ 3,374

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Other Assets (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Other Assets (Textual) [Abstract]
Accumulated amortization, incentives to lessees	$ 3,696,000	$ 2,991,000
Accumulated depreciation on FF&E and leasehold improvements	17,814,000	16,117,000
Accumulated amortization on loan closing costs	4,026,000	3,109,000
Accumulated amortization of in place leases	2,833,000	2,492,000
Accumulated amortization of finite-lived intangible assets, above market leases	8,845,000	8,741,000
Losses on abandoned predevelopment projects	937,000	829,000	7,723,000
Transfer from predevelopment assets to investment in joint venture related to the EP I, LLC project	6,200,000
Net aggregate amortization related to intangible assets and liabilities	$ 305,000	$ 4,000	$ 165,000

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Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2011

Reportable Segments [Abstract]

Total profit or loss from reportable segments

		000000		000000			000000			000000			000000			000000
Year Ended December 31, 2011	Office		Retail			Land			CPS Third Party Management and Leasing			Other			Total
Net operating income, including discontinued operations	$	61,796	$	20,917		$	—		$	—		$	3,583		$	86,296
Fee income, net of reimbursed expenses		—		—			105			10,600			7,508			18,213
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties		—		50			3,332			—			2,177			5,559
Other income		1,563		87			—			—			480			2,130
Third party management and leasing expenses		—		—			—			(7,826	)		—			(7,826	)
General and administrative expenses		—		—			—			—			(24,166	)		(24,166	)
Interest expense		—		—			—			—			(27,784	)		(27,784	)
Impairment losses		—		(1,730	)		(94,793	)		—			(3,608	)		(100,131	)
Depreciation and amortization of non-real estate assets		—		—			—			—			(1,688	)		(1,688	)
Separation expenses		—		—			—			—			(197	)		(197	)
Other expenses		—		—			—			—			(4,436	)		(4,436	)
Loss on extinguishment of debt		—		—			—			—			(74	)		(74	)
Funds from operations from unconsolidated joint ventures		11,071		8,712			(27,211	)		—			73			(7,355	)
Impairment loss on investment in unconsolidated joint ventures		—		—			(608	)		—			—			(608	)
Income attributable to noncontrolling interests, excluding amounts related to gain on sale of depreciated investment properties		—		—			—			—			(2,087	)		(2,087	)
Benefit for income taxes from operations		—		—			—			—			186			186
Preferred stock dividends		—		—			—			—			(12,907	)		(12,907	)
Funds from operations available to common stockholders	$	74,430	$	28,036		$	(119,175	)	$	2,774		$	(62,940	)		(76,875	)
Real estate depreciation and amortization, including Company’s share of joint ventures																(62,709	)
Impairment losses on depreciable investment properties																(7,632	)
Noncontrolling interest related to gain on sale of depreciated investment properties																(2,871	)
Gain on sale of depreciated investment properties																8,755
Net loss available to common stockholders															$	(141,332	)
Total Assets	$	732,857	$	375,923		$	108,172		$	4,302		$	14,281		$	1,235,535

		000000			000000		000000			000000			000000			000000			000000
Year Ended December 31, 2010	Office			Retail		Land			CPS Third Party Management and Leasing			For-Sale Multi- Family			Other			Total
Net operating income, including discontinued operations	$	60,646		$	23,792	$	—		$	—		$	—		$	3,625		$	88,063
Fee income, net of reimbursed expenses		—			—		211			9,668			—			7,951			17,830
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties		—			4,661		1,076			—			7,425			1,204			14,366
Other income		436			114		—			—			—			714			1,264
Third party management and leasing expenses		—			—		—			(8,100	)		—			—			(8,100	)
General and administrative expenses		—			—		—			—			—			(28,517	)		(28,517	)
Interest expense		—			—		—			—			—			(37,180	)		(37,180	)
Impairment losses		—			—		(1,968	)		—			(586	)		—			(2,554	)
Depreciation and amortization of non-real estate assets		—			—		—			—			—			(1,889	)		(1,889	)
Separation expenses		—			—		—			—			—			(1,045	)		(1,045	)
Other expenses		—			—		—			—			—			(4,416	)		(4,416	)
Loss on extinguishment of debt and interest rate swaps		—			—		—			—			—			(9,827	)		(9,827	)
Funds from operations from unconsolidated joint ventures		9,863			6,443		2,375			—			473			—			19,154
Income attributable to noncontrolling interests		—			—		—			—			—			(2,540	)		(2,540	)
Benefit for income taxes from operations		—			—		—			—			—			1,079			1,079
Preferred stock dividends		—			—		—			—			—			(12,907	)		(12,907	)
Funds from operations available to common stockholders	$	70,945		$	35,010	$	1,694		$	1,568		$	7,312		$	(83,748	)		32,781
Real estate depreciation and amortization, including Company’s share of joint ventures																			(67,728	)
Gain on sale of depreciated investment properties																			7,467
Net loss available to common stockholders																		$	(27,480	)
Total Assets	$	671,540		$	348,470	$	261,323		$	4,050		$	4,564		$	81,335		$	1,371,282
Year Ended December 31, 2009	Office			Retail		Land			CPS Third Party Management and Leasing			For-Sale Multi- Family			Other			Total
Net operating income, including discontinued operations	$	57,257		$	24,395	$	—		$	—		$	—		$	1,568		$	83,220
Fee income, net of reimbursed expenses		—			—		616			11,838			—			5,846			18,300
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties		276			1,841		1,466			—			5,212			58			8,853
Other income		286			1,431		—			—			—			1,308			3,025
Third party management and leasing expenses		—			—		—			(7,750	)		—			—			(7,750	)
General and administrative expenses		—			—		—			—			—			(26,198	)		(26,198	)
Interest expense		—			—		—			—			—			(41,393	)		(41,393	)
Impairment losses		—			—		—			—			(36,500	)		(4,012	)		(40,512	)
Depreciation and amortization of non-real estate assets		—			—		—			—			—			(3,382	)		(3,382	)
Separation expenses		—			—		—			—			—			(3,257	)		(3,257	)
Other expenses		—			—		—			—			—			(13,143	)		(13,143	)
Loss on extinguishment of debt and interest rate swaps		—			—		—			—			—			9,732			9,732
Funds from operations from unconsolidated joint ventures		(11,149	)		6,440		(4,091	)		—			(60	)		(37	)		(8,897	)
Impairment loss on investment in unconsolidated joint ventures		(17,993	)		—		(27,000	)		—			(6,065	)		—			(51,058	)
Income attributable to noncontrolling interests		—			—		—			—			—			(2,252	)		(2,252	)
Provision for income taxes from operations		—			—		—			—			—			(4,341	)		(4,341	)
Preferred stock dividends		—			—		—			—			—			(12,907	)		(12,907	)
Funds from operations available to common stockholders	$	28,677		$	34,107	$	(29,009	)	$	4,088		$	(37,413	)	$	(92,410	)		(91,960	)
Real estate depreciation and amortization, including Company’s share of joint ventures																			(61,205	)
Gain on sale of depreciated investment properties, including Company’s share of joint ventures																			167,553
Net income available to common stockholders																		$	14,388
Total Assets	$	650,958		$	429,099	$	273,026		$	7,291		$	31,206		$	99,972		$	1,491,552

Company's consolidated revenues

		September 30,			September 30,			September 30,
	2011			2010			2009
Net operating income	$	86,296		$	88,063		$	83,220
Plus rental property operating expenses		55,918			53,750			57,996
Fee income		18,213			17,830			18,300
Third party management and leasing expense reimbursements		8,759			9,293			10,128
Reimbursed expenses		6,208			6,297			5,378
Residential lot, outparcel, and multi-family unit sales, net of cost of sales, including gain on sale of undepreciated investment properties		5,559			14,366			8,853
Less gain on sale of undepreciated investment properties not included in revenues		(3,258	)		(1,697	)		(1,243	)
Plus residential lot, multi-family unit and outparcel cost of sales		5,378			37,716			30,652
Net operating income from discontinued operations not included in revenues		(6,641	)		(11,291	)		(12,972	)
Other income		2,130			1,264			3,025
Other income — discontinued operations		(98	)		(35	)		(53	)
Total consolidated revenues	$	178,464		$	215,556		$	203,284

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Equity and Stock Based-Compensation (Details) (USD $)	12 Months Ended
	Dec. 31, 2011 Y	Dec. 31, 2010 Y	Dec. 31, 2009 Y
Assumptions
Risk-free interest rate	2.37%	2.63%	1.94%
Assumed dividend yield	2.95%	5.50%	6.00%
Assumed lives of option awards (in years)	5.30	5.40	6.07
Assumed volatility	65.30%	64.20%	47.40%
Result
Weighted average fair value of options granted	$ 3.90	$ 2.68	$ 2.18

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Property Transactions (Details 2) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Gain on sale of investment properties included in discontinued operations
Gain on sale of investment properties	$ 8,519	$ 7,226	$ 147
Gain on extinguishment of debt			12,498
King Mill Distribution Park Building 3 [Member]
Gain on sale of investment properties included in discontinued operations
Gain on sale of investment properties	4,977
One Georgia Center [Member]
Gain on sale of investment properties included in discontinued operations
Gain on sale of investment properties	2,805
Lakeside Ranch Business Park Building Twenty [Member]
Gain on sale of investment properties included in discontinued operations
Gain on sale of investment properties	1,121
Jefferson Mill Business Park Building A [Member]
Gain on sale of investment properties included in discontinued operations
Gain on sale of investment properties	(394)
San Jose Market Center [Member]
Gain on sale of investment properties included in discontinued operations
Gain on sale of investment properties	10	6,572
8995 Westside Parkway [Member]
Gain on sale of investment properties included in discontinued operations
Gain on sale of investment properties		654
Other [Member]
Gain on sale of investment properties included in discontinued operations
Gain on sale of investment properties			$ 147

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Income Taxes (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Current tax benefit (provision):
Federal		$ 720	$ 4,605
State	186	359	(49)
Current tax benefit (provision)	186	1,079	4,556
Deferred tax benefit (provision):
Federal			(7,984)
State			(913)
Deferred tax benefit (provision)			(8,897)
Benefit (provision) applicable to income (loss) from continuing operations	$ 186	$ 1,079	$ (4,341)

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Notes Payable, Commitments and Contingencies (Details Textual) (USD $)	1 Months Ended	11 Months Ended	12 Months Ended								1 Months Ended			12 Months Ended		12 Months Ended	1 Months Ended	12 Months Ended
	Feb. 28, 2010	Nov. 30, 2011 sqft	Dec. 31, 2011 Y	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2011 Credit Facility, unsecured [Member]	Dec. 31, 2010 Credit Facility, unsecured [Member]	Dec. 31, 2011 Mahan Village [Member] sqft	Dec. 31, 2011 Maximum [Member] Credit Facility, unsecured [Member]	Dec. 31, 2011 Minimum [Member] Credit Facility, unsecured [Member]	Jul. 31, 2010 Meridian Mark Plaza [Member]	Sep. 30, 2011 Mahan Village [Member]	Dec. 31, 2011 Mahan Village [Member]	Dec. 31, 2010 Terminus 100 mortgage note [Member]	Dec. 31, 2011 Long term debt- nonrecourse [Member] Y	Dec. 31, 2007 Term Facility [Member]	Oct. 31, 2009 Interest Rate Swap [Member]	Dec. 31, 2010 Interest Rate Swap [Member]	Dec. 31, 2008 Interest Rate Swap [Member] Agreement	Dec. 31, 2009 Interest Rate Swap [Member]
Notes payable commitments and contingencies (Textual) [Abstract]
Mortgage loan principal amount											$ 22,300,000
Mortgage loan principal amount, revised											27,000,000
Interest rate on mortgage loan											8.27%		3.25%
Maximum amount available under construction loan agreement													15,000,000
Loss on extinguishment of debt and interest rate swaps			74,000	9,827,000	2,766,000
Interest rate on mortgage loan, revised											6.00%			5.25%
Amortization Period (Years)						5 years					30 years			30 years
Maturity date of debt instrument						Aug. 29, 2012					Aug. 01, 2020	Sep. 12, 2014		Jan. 01, 2023
Repayment of principal amount														40,000,000
Revised mortgage note balance														140,000,000
Interest rate on mortgage note														6.13%
Notes payable			539,442,000	509,509,000		198,250,000	105,400,000
Interest rate swap agreement, notional amount			568,500,000	521,800,000															75,000,000	75,000,000
Revised notional amount of interest rate derivatives																			40,000,000
Fixed base rate under interest rate swap agreement																5.01%	2.84%		2.84%
Number of interest rate swap agreement																			2
Payment to counterparty of swap agreement																	1,800,000		959,000
Expiry of swap agreement																2012-08	2009-10		2010-10
Pledged assets, carrying value															224,500,000
Non recourse debt															341,200,000
Weighted average maturity of consolidated debt															5.1
Spread over LIBOR			2.00%						2.25%	1.75%
Interest rate over LIBOR			the spread over LIBOR was 2.0%			LIBOR
Interest rate swap agreement, notional amount																100,000,000
Square footage of real estate property		775,000						147,000
Maximum percentage guaranteed under construction loan								25.00%
Administration fee to effect the amendment						438,000	1,700,000
Unamortized deferred loan costs related to previous facility							592,000
Payment to counterparty to the swap agreement																		9,200,000
Notes Payable Commitments and Contingencies (Additional Textual) [Abstract]
Previous borrowing capacity under the credit facility	600,000,000
Original maturity date of credit facility	8/29/2011
Previous minimum consolidated fixed charge coverage ratio	1.50
Reduced Minimum consolidated fixed charge coverage ratio	1.30
Outstanding commitments to fund real estate projects				26,800,000
Outstanding performance bonds			3,100,000
Future lease commitments			16,411,000
Lease operating expenses			680,000	865,000	765,000
Weighted average remaining terms of ground leases			71
Weighted average remaining terms of operating leases			1
Maximum borrowing capacity under credit facility	$ 350,000,000
Line of Credit Facility, Expiration Date	8/29/2012

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Notes Payable, Commitments and Contingencies

12 Months Ended

Dec. 31, 2011

Notes Payable, Commitments and Contingencies [Abstract]

NOTES PAYABLE, COMMITMENTS AND CONTINGENCIES

3. NOTES PAYABLE, COMMITMENTS AND CONTINGENCIES

The following table summarizes the terms of notes payable outstanding at December 31, 2011 and 2010 (in thousands):

	September 30,		September 30,		September 30,		September 30,		September 30,
		Term/
		Amortization
Description (see notes below)	Interest Rate	Period (Years)		Maturity		2011		2010
Credit Facility, unsecured	LIBOR + 1.75% to 2.25%		5/N/A		8/29/12	$	198,250	$	105,400
Terminus 100 mortgage note	5.25%		12/30		1/1/23		138,194		140,000
The American Cancer Society Center mortgage note (interest only until October 1, 2011)	6.45%		10/30		9/1/17		135,650		136,000
Meridian Mark Plaza mortgage note	6.00%		10/30		8/1/20		26,554		26,892
100/200 North Point Center East mortgage note	5.39%		5/30		6/1/12		24,478		24,830
The Points at Waterview mortgage note	5.66%		10/25		1/1/16		16,135		16,592
Callaway Gardens	4.13%		N/A		11/18/13		180		173
Mahan Village LLC	3.25%		3/N/A		9/12/14		1		—
333/555 North Point Center East mortgage note	7.00%		10/25		11/1/11		—		26,412
Lakeshore Park Plaza mortgage note	5.89%		4/25		8/1/12		—		17,544
600 University Park Place mortgage note	7.38%		10/30		8/10/11		—		12,292
Handy Road Associates, LLC	Prime + 1%, but not < 6%		5/N/A		3/30/2011		—		3,374
						$	539,442	$	509,509

Credit Facility

The Company’s Credit Facility bears interest at the London Interbank Offered Rate (“LIBOR”) plus a spread, based on the Company’s leverage ratio, as defined in the Credit Facility. At December 31, 2011, the spread over LIBOR was 2.0%. The amount that the Company may draw under the Credit Facility is a defined calculation based on the Company’s unencumbered assets and other factors. Total borrowing capacity under the Credit Facility was $350 million at December 31, 2011, and the Credit Facility is recourse to the Company. The Credit Facility had a maturity date of August 29, 2011. On that date, the Company exercised a one-year extension option which changed the maturity date to August 29, 2012, and paid a $438,000 extension fee.

In February 2010, the Company amended its Credit Facility (the “Amendment”), which reduced the amount available under the Credit Facility from $600 million to $350 million. The Amendment also changed certain operating and financial covenants including, but not limited to, the minimum Consolidated Fixed Charge Coverage Ratio, as defined, which decreased from 1.50 to 1.30. The Company incurred an administrative fee of approximately $1.7 million to effect the Amendment and additionally expensed unamortized deferred loan costs related to the previous facility of $592,000, which is reflected in Loss on Extinguishment of Debt and Interest Rate Swaps on the accompanying Statement of Operations.

The Company is currently negotiating a new facility that is expected to replace the Credit Facility. This new facility is expected to be in place in the first half of 2012.

Other Debt Activity

In September 2011, the Company entered into a construction loan agreement, secured by Mahan Village, a 147,000 square foot retail center in Tallahassee, Florida, to provide for up to approximately $15.0 million to fund construction. The Company has a choice of two interest rate options, which are based on floating rate indices plus a spread. The current interest rate is 3.25%, the loan matures September 12, 2014, and may be extended for two, one-year periods if certain conditions are met. The Company guarantees up to 25% of the construction loan, which may be eliminated after project completion, based on certain covenants.

In June 2011, the Company prepaid, without penalty, the 333/555 North Point Center East mortgage note. In July 2011, the Company prepaid, without penalty, the Lakeshore Park Plaza mortgage note, and expensed approximately $74,000 of unamortized loan closing costs, which are reflected as Loss on Extinguishment of Debt and Interest Rate Swaps on the Statement of Operations. In August 2011, the Company repaid the 600 University Park Place mortgage note in full upon its maturity. In May 2011, the Company was released of its obligation under the Handy Road Associates, LLC mortgage note through foreclosure.

In July 2010, the Company obtained a new mortgage loan secured by Meridian Mark Plaza that increased the principal amount from $22.3 million to $27.0 million and reduced the interest rate from 8.27% to 6.00%. The new note requires principal and interest payments based on a 30-year amortization, and has a maturity date of August 1, 2020.

In December 2010, the Company amended its Terminus 100 mortgage note. The Company paid $40.0 million of principal, reducing the note to $140.0 million outstanding. The interest rate on the note was reduced from 6.13% to 5.25%, principal and interest payments are based on a 30-year amortization, and the note matures January 1, 2023.

Interest Rate Swap Agreements

The Company had an interest rate swap agreement with a notional amount of $100 million in order to manage its interest rate risk under a term loan that was a part of the Company’s Credit Facility. The Company designated this swap as a cash flow hedge, and this swap effectively fixed the underlying LIBOR rate of the term loan at 5.01% through August 2012. The Company repaid the term loan in 2010 and concurrently terminated the swap. Upon termination, the Company paid the counterparty to the swap agreement $9.2 million, which was recognized as an expense in 2010.

The Company had two interest rate swap agreements with notional amounts of $75 million each in order to manage interest rate risk associated with floating-rate, LIBOR-based borrowings. The Company designated these swaps as cash flow hedges, and they effectively fixed a portion of the underlying LIBOR rate on $150 million of Company borrowings at an average rate of 2.84%. In October 2009, the Company terminated one of its $75 million swaps and paid the counterparty to the agreement $1.8 million. In addition, the Company reduced the notional amount of the second interest rate swap from $75 million to $40 million and paid the counterparty $959,000. Both of these amounts were recognized as expenses in 2009. The reduced swap expired in October 2010. There was no ineffectiveness under any of the Company’s interest rate swaps in 2010 or 2009.

The fair value calculation for the swaps is deemed to be a Level 2 calculation under the guidelines as set forth in ASC 820, as the Company estimated future LIBOR rates on similar instruments to calculate fair value. The fair values of the interest rate swap agreements were recorded in Accounts Payable and Accumulated Other Comprehensive Loss on the Balance Sheets, detailed as follows (in thousands):

		September 30,			September 30,			September 30,
	Term Facility			Floating Rate, LIBOR-based Borrowings			Total
Balance, December 31, 2009	$	8,662		$	855		$	9,517
Termination of swap		(9,235	)		—			(9,235	)
Change in fair value		573			(855	)		(282	)
Balance, December 31, 2010	$	—		$	—		$	—

Debt Maturities

The aggregate maturities of the Company’s debt at December 31, 2011 are as follows (in thousands):

		September 30,
2012	$	227,050
2013		4,783
2014		4,878
2015		5,168
2016		18,869
Thereafter		278,694
	$	539,442

Other Debt Information

The real estate and other assets of The American Cancer Society Center (the “ACS Center”) are restricted under the ACS Center loan agreement in that they are not available to settle debts of the Company. However, provided that the ACS Center loan has not incurred any uncured event of default, as defined in the loan agreement, the cash flows from the ACS Center, after payments of debt service, operating expenses and reserves, are available for distribution to the Company.

The majority of the Company’s consolidated debt is fixed-rate long-term mortgage notes payable, most of which is non-recourse to the Company. Assets with carrying values of $224.5 million were pledged as security on the $341.2 million non-recourse debt of the Company. The Credit Facility is recourse to the Company. As of December 31, 2011, the weighted average maturity of the Company’s consolidated debt was 5.1 years.

At December 31, 2011 and 2010, the estimated fair value of the Company’s notes payable was approximately $568.5 million and $521.8 million, respectively, calculated by discounting future cash flows at estimated rates at which similar loans could have been obtained at December 31, 2011 and 2010. These fair value calculations are considered to be Level 2 under the guidelines as set forth in ASC 820, as the Company utilizes market rates for similar type loans from third party brokers.

For the years ended December 31, 2011, 2010 and 2009, interest was recorded as follows (in thousands):

		September 30,			September 30,		September 30,
	2011			2010		2009
Total interest incurred	$	28,384		$	37,180	$	45,129
Interest expense — discontinued operations		—			—		(1,634	)
Interest capitalized		(600	)		—		(3,736	)
Total interest expense	$	27,784		$	37,180	$	39,759

Commitments

As of December 31, 2011, outstanding commitments for the construction and design of real estate projects, including an estimate for unfunded tenant improvements at operating properties and other funding commitments, totaled approximately $26.8 million. The Company had outstanding letters of credit and performance bonds totaling approximately $3.1 million at December 31, 2011. The Company recorded lease expense of approximately $680,000, $865,000, and $765,000 in 2011, 2010 and 2009, respectively. The Company has future lease commitments under ground leases and operating leases aggregating approximately $16.4 million over weighted average remaining terms of 71 and one years, respectively. Amounts due under these lease commitments are as follows (in thousands):

		September 30,
2012	$	589
2013		274
2014		206
2015		196
2016		146
Thereafter		15,000
	$	16,411

Litigation

The Company is subject to various legal proceedings, claims and administrative proceedings arising in the ordinary course of business, some of which are expected to be covered by liability insurance. Management makes assumptions and estimates concerning the likelihood and amount of any potential loss relating to these matters using the latest information available. The Company records a liability for litigation if an unfavorable outcome is probable and the amount of loss or range of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, the Company accrues the best estimate within the range. If no amount within the range is a better estimate than any other amount, the Company accrues the minimum amount within the range. If an unfavorable outcome is probable but the amount of the loss cannot be reasonably estimated, the Company discloses the nature of the litigation and indicates that an estimate of the loss or range of loss cannot be made. If an unfavorable outcome is reasonably possible and the estimated loss is material, the Company discloses the nature and estimate of the possible loss of the litigation. The Company does not disclose information with respect to litigation where an unfavorable outcome is considered to be remote. Based on current expectations, such matters, both individually and in the aggregate, are not expected to have a material adverse effect on the liquidity, results of operations, business or financial condition of the Company.

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Income Taxes (Details 1) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Difference between income tax benefit and statutory federal income tax rate
Federal income tax benefit	$ 35,112	$ 1,832	$ 39,175
Federal income tax benefit, rate	35.00%	35.00%	35.00%
State income tax benefit, net of federal income tax effect	121	141	3,625
State income tax benefit, net of federal income tax effect, rate	0.00%	3.00%	4.00%
Valuation allowance	(34,191)	(894)	(47,141)
Valuation allowance, rate	(34.00%)	(17.00%)	(43.00%)
Other	(856)
Other, rate	(1.00%)
Benefit (provision) applicable to income (loss) from continuing operations	$ 186	$ 1,079	$ (4,341)
Benefit (provision) applicable to income (loss) from continuing operations, rate	0.00%	21.00%	(4.00%)

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Notes Payable, Commitments and Contingencies (Details 1) (Interest Rate Swap [Member], USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2010
Rollforward of derivatives liability
Beginning Balance	$ 9,517
Termination of swaps	(9,235)
Change in fair value	(282)
Ending Balance	0
Term Facility [Member]
Rollforward of derivatives liability
Beginning Balance	8,662
Termination of swaps	(9,235)
Change in fair value	573
Ending Balance	0
Floating rate LIBOR based borrowings [Member]
Rollforward of derivatives liability
Beginning Balance	855
Change in fair value	(855)
Ending Balance	$ 0

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Equity and Stock Based-Compensation (Tables)

12 Months Ended

Dec. 31, 2011

Equity [Abstract]

Stock options activity

		September 30,			September 30,
	Number of
	Options			Weighted Average
	(000s)			Exercise Price Per Option
Outstanding, beginning of year		6,460		$	21.30
Granted		213		$	8.43
Exercised		(4	)	$	8.35
Forfeited/Expired		(709	)	$	21.49
Outstanding, end of year		5,960		$	20.83
Options exercisable at end of year		5,396		$	22.17

Summary of Restricted Stock activity

		September 30,			September 30,
				Weighted-
	Number of			Average
	Shares			Grant Date
	(000s)			Fair Value
Non-vested restricted stock at beginning of year		220		$	7.60
Granted		244		$	8.43
Vested		(6	)	$	23.42
Forfeited		(19	)	$	7.66
Non-vested restricted stock at end of year		439		$	7.83

Summary of Regular RSU activity

	September 30,
Outstanding at beginning of year	144
Granted	57
Vested	(55	)
Forfeited	(3	)
Outstanding at end of year	143

Summary of all performance-based RSU activity

	September 30,
Outstanding at beginning of year	367
Granted — 100% of target	164
Forfeited — 100% of target	(15	)
Forfeited — special performance-based RSUs	(172	)
Outstanding at end of year	344

Summary of Distribution of Taxable Income

		September 30,			September 30,			September 30,
	2011			2010			2009
Common and preferred dividends paid	$	31,556		$	49,365		$	55,328
Dividends treated as taxable compensation		(71	)		(79	)		(28	)
Portion of dividends declared in current year, and paid in current year, which was applied to the prior year distribution requirements		(304	)		(1,606	)		—
Portion of dividends declared in subsequent year, and paid in subsequent year, which apply to current year distribution requirements		1,075			304			1,606
Dividends applied to meet current year REIT distribution requirements	$	32,256		$	47,984		$	56,906

Summary of components of the taxability of the Company's dividends

		September 30,		September 30,		September 30,		September 30,
			Type
	Total Dividends Per Share		Ordinary Dividends		Long-Term Capital Gain		Unrecaptured Section 1250 Gain (A)
Common:
2011	$	0.180000	$	0.067853	$	0.112147	$	0.042574
2010	$	0.360000	$	0.059447	$	0.300553	$	0.073937
2009	$	0.740000	$	0.549006	$	0.190994	$	—
Series A Preferred:
2011	$	1.937500	$	0.730053	$	1.207447	$	0.458393
2010	$	1.937500	$	0.315868	$	1.621632	$	0.399714
2009	$	1.937500	$	1.290594	$	0.646906	$	—
Series B Preferred:
2011	$	1.875000	$	0.706502	$	1.168498	$	0.443606
2010	$	1.875000	$	0.305678	$	1.569322	$	0.386819
2009	$	1.875000	$	1.248962	$	0.626038	$	—

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Impairment Losses (Tables)

12 Months Ended

Dec. 31, 2011

Impairment Losses [Abstract]

Impairment losses in cost and expenses on the Statement of Operations

		September 30,		September 30,		September 30,
	2011		2010		2009
Residential and land	$	96,523	$	—	$	—
Operating properties		7,632
Investment in Verde Realty		3,508		—		—
60 N. Market/related note receivable		100		586		1,600
Handy Road land		—		1,968		—
10 Terminus Place				—		34,900
Company airplane				—		4,012
	$	107,763	$	2,554	$	40,512

Impairment losses on investment in unconsolidated joint ventures

		September 30,		September 30,		September 30,
	2011		2010		2009
Temco	$	608	$	—	$	6,700
CL Realty		—		—		20,300
T200		—		—		17,993
Glenmore		—		—		6,065
	$	608	$	—	$	51,058

Impairment losses within unconsolidated joint ventures

		September 30,		September 30,		September 30,
	2011		2010		2009
Temco	$	14,580	$	—	$	631
CL Realty		13,565		2,229		2,619
Terminus 200 LLC		—		—		20,931
Pine Mountain Builders		—		1,517		—
	$	28,145	$	3,746	$	24,181

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Equity and Stock Based-Compensation (Details 4)	12 Months Ended
	Dec. 31, 2011
Performance-based RSU [Member]
Summary of all performance-based RSU activity
Outstanding at beginning of year	367,000
Number of Shares, Granted	164,000
Number of Shares, Forfeited	(15,000)
Outstanding at end of year	344,000
Special Performance Based Restricted Stock Unit [Member]
Summary of all performance-based RSU activity
Number of Shares, Forfeited	(172,000)

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Notes Payable, Commitments and Contingencies (Details 2) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Debt Maturities
2012	$ 227,050
2013	4,783
2014	4,878
2015	5,168
2016	18,869
Thereafter	278,694
Total	$ 539,442	$ 509,509

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Consolidated benefit (provision) for income taxes from operations

		September 30,		September 30,		September 30,
	2011		2010		2009
Current tax benefit (provision):
Federal	$	—	$	720	$	4,605
State		186		359		(49	)
		186		1,079		4,556
Deferred tax benefit (provision):
Federal		—		—		(7,984	)
State		—		—		(913	)
		—		—		(8,897	)
Benefit (provision) for income taxes from operations	$	186	$	1,079	$	(4,341	)

Difference between income tax benefit and statutory federal income tax rate

		September 30,			September 30,			September 30,			September 30,			September 30,			September 30,
	2011						2010						2009
	Amount			Rate			Amount			Rate			Amount			Rate
Federal income tax benefit	$	35,112			35	%	$	1,832			35	%	$	39,175			35	%
State income tax benefit, net of federal income tax effect		121			0	%		141			3	%		3,625			4	%
Valuation allowance		(34,191	)		(34	)%		(894	)		(17	)%		(47,141	)		(43	)%
Other		(856	)		(1	)%		—			—			—			—
Benefit (provision) applicable to income (loss) from continuing operations	$	186			0	%	$	1,079			21	%	$	(4,341	)		(4	)%

Tax effect of significant temporary differences representing deferred tax assets and liabilities

		September 30,			September 30,
	2011			2010
Income from unconsolidated joint ventures	$	26,009		$	5,519
Residential lots, land and outparcels		20,248			—
Long-term incentive equity awards		1,608			1,281
For-sale multi-family units basis differential		269			2,519
Interest carryforward		13,158			13,158
Federal and state tax carryforwards		23,883			25,464
Other		860			(5	)
Total deferred tax assets		86,035			47,936
Valuation allowance		(86,035	)		(47,936	)
Net deferred tax asset	$	—		$	—

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Property Transactions (Tables)

12 Months Ended

Dec. 31, 2011

Property Transactions [Abstract]

Properties sold that qualify as discontinued operations

	September 30,	September 30,		September 30,		September 30,
Property	Property Type	Location	Square Feet		Sales Price
2011:
King Mill Distribution Park — Building 3	Industrial	Atlanta, GA		796,000	$	28,300
Lakeside Ranch Business Park — Building 20	Industrial	Dallas, TX		749,000		28,400
One Georgia Center	Office	Atlanta, GA		376,000		48,600
Jefferson Mill Business Park — Building A	Industrial	Atlanta, GA		459,000		22,000
2010:
8995 Westside Parkway	Office	Atlanta, GA		51,000		3,200
San Jose MarketCenter	Retail	San Jose, CA		213,000		85,000

Components of Income (Loss) from Discontinued Operations

		September 30,			September 30,			September 30,
	2011			2010			2009
Rental property revenues	$	11,115		$	17,806		$	21,543
Other income		98			35			53
Rental property operating expenses		(4,474	)		(6,515	)		(8,571	)
Depreciation expense		(3,887	)		(6,643	)		(8,052	)
Interest expense		—			—			(1,634	)
Income from discontinued operations	$	2,852		$	4,683		$	3,339

Gain on sale of investment properties in discontinued operations

		September 30,			September 30,		September 30,
	2011			2010		2009
King Mill Distribution Park — Building 3	$	4,977		$	—	$	—
One Georgia Center		2,805			—		—
Lakeside Ranch Business Park — Building 20		1,121			—		—
Jefferson Mill Business Park — Building A		(394	)		—		—
San Jose MarketCenter		10			6,572		—
8995 Westside Parkway		—			654		—
Other		—			—		147
Gain on sale of investment properties — discontinued operations	$	8,519		$	7,226	$	147
Gain on extinguishment of debt — San Jose MarketCenter	$	—		$	—	$	12,498

Fair value of the assets and liabilities acquired

		September 30,
Land	$	13,439
Building		94,190
Tenant Improvements and FF&E		8,600
Tangible assets		116,229
Intangible Assets:
Above-market leases		3,991
In-place leases		16,172
Total intangible assets		20,163
Intangible Liabilities:
Below-market leases		(1,659	)
Total net assets acquired	$	134,733

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Significant Accounting Policies

12 Months Ended

Dec. 31, 2011

Significant Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

2. SIGNIFICANT ACCOUNTING POLICIES

Long-Lived Assets

Cost Capitalization: Costs related to planning, developing, leasing and constructing a property are capitalized and classified as Properties in the Balance Sheets. These costs include costs of development personnel who work directly on projects under development based on actual time spent on each project. In addition, the Company capitalizes interest to qualifying assets under development based on average accumulated expenditures outstanding during the period. In capitalizing interest to qualifying assets, the Company first uses the interest incurred on specific project debt, if any, and next uses the Company’s weighted average interest rate for non-project specific debt. The Company also capitalizes interest to investments accounted for under the equity method when the investee has property under development with a carrying value in excess of the investee’s borrowings. To the extent debt exists within an unconsolidated joint venture during the construction period, the venture capitalizes interest on that venture specific debt.

The Company capitalizes interest, real estate taxes and certain operating expenses on the unoccupied portion of recently completed development properties from the date a project receives its certificate of occupancy to the earlier of (1) the date on which the project achieves 95% economic occupancy or (2) one year after it receives its certificate of occupancy.

The Company capitalizes direct leasing costs related to leases that are probable of being executed. These costs include commissions paid to outside brokers, legal costs incurred to negotiate and document a lease agreement and internal costs that are based on time spent by leasing personnel on successful leases. The Company allocates these costs to individual tenant leases and amortizes them over the related lease term.

Impairment: The Company’s long-lived assets are mainly its real estate assets, which include operating properties, projects under development, undeveloped land, and residential lots. For those long-lived assets that are considered to be held for sale, the Company records impairment losses if the fair value of the asset net of estimated selling costs is less than the carrying amount. For those long-lived assets that are held and used, management reviews each asset for the existence of any indicators of impairment. If indicators of impairment are present, the Company calculates the expected undiscounted future cash flows to be derived from such assets. If the undiscounted cash flows are less than the carrying amount of the asset, the Company reduces the asset to its fair value. See Note 5 for impairments recognized during 2011, 2010 and 2009.

The accounting treatment for long-lived assets is the same within the Company’s unconsolidated joint ventures. See Notes 4 and 5 for more information on impairments recognized within the Company’s unconsolidated joint ventures during 2011, 2010 and 2009.

The Company evaluates the recoverability of its investment in unconsolidated joint ventures in accordance with accounting standards for equity investments by first reviewing each investment for any indicators of impairment. If indicators are present, the Company estimates the fair value of the investment. If the carrying value of the investment is greater than the estimated fair value, management makes an assessment of whether the impairment is “temporary” or “other-than-temporary.” In making this assessment, management considers the following: (1) the length of time and the extent to which fair value has been less than cost, (2) the financial condition and near-term prospects of the entity, and (3) the Company’s intent and ability to retain its interest long enough for a recovery in market value. See Note 5 for more information on impairments recognized on the Company’s investments in unconsolidated joint ventures, if any, during 2011, 2010 and 2009.

The Company evaluates its goodwill annually, as of November 30 (or at any point during the year if indicators of impairment exist), for impairment using a discounted cash flow analysis. The Company recorded no goodwill impairments during 2011, 2010 or 2009.

Acquisition of Operating Properties: The Company records the acquired tangible and intangible assets and assumed liabilities of operating property acquisitions at fair value at the acquisition date. The acquired assets and assumed liabilities for an operating property acquisition generally include but are not limited to: land, buildings and improvements, and identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any.

The fair value of land is derived from comparable sales of land within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs are based upon current market replacement costs and other relevant market rate information.

The fair value of the above-market or below-market component of an acquired in-place lease is based upon the present value (calculated using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining term and (ii) management’s estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition over the remaining term of the lease. The amounts recorded for above-market leases are included in Other Assets on the Balance Sheet and are amortized on a straight-line basis as a reduction of rental income over the remaining term of the applicable leases. The amounts recorded for below-market leases are included in Accounts Payable and Accrued Liabilities and are amortized on a straight-line basis as an increase to rental income over the remaining term of the applicable leases.

The fair value of acquired in-place leases is derived based on management’s assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. The amount recorded for acquired in-place leases is included in Other Assets and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases.

Depreciation and Amortization: Real estate assets are stated at the lower of fair value or depreciated cost. Buildings are depreciated over their estimated useful lives, which range from 24-40 years. The life of a particular building depends upon a number of factors including whether the building was developed or acquired and the condition of the building upon acquisition. Furniture, fixtures and equipment are depreciated over their estimated useful lives of three to five years. Tenant improvements, leasing costs and leasehold improvements are amortized over the term of the applicable leases or the estimated useful life of the assets, whichever is shorter. The Company accelerates the depreciation of tenant assets if it estimates that the lease term will end prior to the termination date. This acceleration may occur if a tenant files for bankruptcy, vacates its premises or defaults in another manner on its lease. Deferred expenses are amortized over the period of estimated benefit. The Company uses the straight-line method for all depreciation and amortization.

Discontinued Operations: Gains or losses from the disposition of certain real estate assets and the related historical results of operations of these assets disposed of or held-for-sale, as defined, are included in a separate section, Discontinued Operations, on the Statements of Operations for all periods presented. The Company also assesses whether it has significant continuing involvement in the property, as outlined in the accounting rules, and if it does, the property does not qualify as a discontinued operation. The Company ceases depreciation of a property when it is categorized as held-for-sale. See Note 8 for a detail of property transactions that met these requirements.

Revenue Recognition

Rental Property Revenues: The Company recognizes income from leases which include scheduled increases in rental rates over the lease term (other than scheduled increases based on the Consumer Price Index) and/or periods of free rent on a straight-line basis. The Company recognizes revenues from tenants for operating expenses that the Company incurs which may be billed back to the tenants pursuant to their lease agreements. These operating expenses include items such as real estate taxes, insurance and other property operating costs. During 2011, 2010 and 2009, the Company recognized $26.9 million, $25.5 million and $25.4 million, respectively, in revenues from tenants related to operating expenses.

The Company makes valuation adjustments to all tenant-related accounts receivable based upon its estimate of the likelihood of collectibility of amounts due from the tenant. The Company analyzes the tenant’s credit and business risk, history of payment and other factors in order to aid in its assessment. The Company generally reserves accounts receivable on specific tenants where rental payments or reimbursements are delinquent 90 days or more. Reserves may also be recorded for amounts outstanding less than 90 days if management deems the collectibility is highly questionable.

Fee Income: The Company recognizes development and leasing fees when earned. The Company recognizes development and leasing fees received from unconsolidated joint ventures and related salaries and other direct costs incurred by the Company as income and expense based on the percentage of the joint venture which the Company does not own. Correspondingly, the Company adjusts the Investment in Unconsolidated Joint Ventures asset when fees are paid to the Company by a joint venture in which the Company has an ownership interest. The Company amortizes these adjustments over a relevant period in Income from Unconsolidated Joint Ventures.

Under management agreements with both third party property owners and joint venture properties in which the Company has an ownership interest, the Company receives management and leasing fees, as well as expense reimbursements comprised primarily of on-site personnel’s salaries and benefits. The Company expenses salaries and other direct costs related to these management and leasing agreements. The Company also obtains reimbursements for certain expenditures incurred under development agreements with both third party and joint venture entities. The Company records management, leasing and development fees and the related reimbursements in Fee Income and Third Party Management and Leasing Revenues on the Statements of Operations in the same period as the corresponding expenses are incurred.

Residential Lot Sales: The Company recognizes sales and related cost of sales of developed lots to homebuilders upon closing, the majority of which historically have been accounted for on the full accrual method. If a substantial continuing obligation exists related to the sale, the Company uses the percentage of completion method. If other criteria for the full accrual method are not met, the Company utilizes the appropriate revenue recognition policy as detailed in ASC 360. Management estimates cost of sales based on profit percentages for the entire project and applies these percentages to each individual lot sale in a consistent manner. If the anticipated profit percentage changes during the course of a project, the Company adjusts cost of sales prospectively to reflect the new metrics.

Gain on Sale of Investment Properties: The Company recognizes a gain on sale of investment when the sale of a property is consummated, the buyer’s initial and continuing investment is adequate to demonstrate commitment to pay, any receivable obtained is not subject to future subordination, the usual risks and rewards of ownership are transferred and the Company has no substantial continuing involvement with the property. If the Company has a commitment to the buyer and that commitment is a specific dollar amount, this commitment is accrued and the gain on sale that the Company recognizes is reduced. If the Company has a construction commitment to the buyer, management makes an estimate of this commitment, defers a portion of the profit from the sale and recognizes the deferred profit as or when the commitment is fulfilled.

Income Taxes

Cousins has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, Cousins must distribute annually at least 90% of its adjusted taxable income, as defined in the Code, to its stockholders and satisfy certain other organizational and operating requirements. It is management’s current intention to adhere to these requirements and maintain Cousins’ REIT status. As a REIT, Cousins generally will not be subject to federal income tax at the corporate level on the taxable income it distributes to its stockholders. If Cousins fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Cousins may be subject to certain state and local taxes on its income and property, and to federal income taxes on its undistributed taxable income.

CREC, a C-Corporation for federal income tax purposes, uses the liability method of accounting for income taxes. Tax return positions are recognized in the financial statements when they are “more-likely-than-not” to be sustained upon examination by the taxing authority. Deferred income tax assets and liabilities result from temporary differences. Temporary differences are differences between the tax bases of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future periods. A valuation allowance may be placed on deferred income tax assets, if it is determined that it is more likely than not that a deferred tax asset may not be realized. See Note 7 for more information regarding the tax position of the Company.

Stock-Based Compensation

The Company has several types of stock-based compensation plans which are described in Note 6, as well as the accounting policies by type of award. The Company recognizes compensation expense, net of forfeitures, arising from share-based payment arrangements granted to employees and directors in General and Administrative Expense in the Statements of Operations over the related awards’ vesting period, which may be accelerated under the Company’s retirement feature. The Company has capitalized a portion of share-based payment expense to certain properties. Information for the Company’s share-based payment arrangements for the years ended December 31, 2011, 2010 and 2009 is as follows (in thousands):

		September 30,			September 30,			September 30,
	2011			2010			2009
Expensed	$	2,359		$	4,395		$	5,705
Amounts capitalized		(191	)		(282	)		(451	)
	$	2,168		$	4,113		$	5,254

Earnings per Share (“EPS”)

Net income (loss) per share-basic is calculated as net income (loss) available to common stockholders divided by the weighted average number of common shares outstanding during the period, including nonvested restricted stock which has nonforfeitable dividend rights. Net income (loss) per share-diluted is calculated as net (income) loss available to common stockholders divided by the diluted weighted average number of common shares outstanding during the period. Diluted weighted average number of common shares uses the same weighted average share number as in the basic calculation and adds the potential dilution that would occur if stock options (or any other contracts to issue common stock) were exercised and resulted in additional common shares outstanding, calculated using the treasury stock method. The numerator is reduced for the effect of preferred dividends in both the basic and diluted net income (loss) per share calculations. As of December 31, 2011, 2010 and 2009 weighted average shares – basic and diluted were as follows (in thousands):

		September 30,		September 30,		September 30,
	2011		2010		2009
Weighted average shares—basic		103,651		101,440		65,495
Dilutive potential common shares—stock options		—		—		—
Weighted average shares—diluted		103,651		101,440		65,495

Stock options are dilutive when the average market price of the Company’s stock during the period exceeds the option exercise price. However, in periods where the Company is in a net loss position, the dilutive effect of stock options is not included in the diluted weighted average shares total.

Anti-dilutive stock options represent stock options which are outstanding but which are not exercisable during the period because the exercise price exceeded the average market value of the Company’s stock. These anti-dilutive stock options are not included in the current calculation of dilutive weighted average shares, but could be dilutive in the future. Total weighted average anti-dilutive stock options for the years ending December 31, 2011, 2010 and 2009 were as follows (in thousands):

		September 30,		September 30,		September 30,
	2011		2010		2009
Anti-dilutive options		5,836		6,460		6,944

Derivative Instruments

From time to time, the Company may use derivative instruments, such as interest rate swaps, to effectively manage its interest rate risk on certain debt instruments. Specifically, the Company had interest rate swaps in 2010 and 2009. The Company did not utilize the “shortcut method” of accounting for these instruments and followed the hypothetical derivative method. Except for any portion of the swaps considered to be ineffective, the Company recognized the change in value of the interest rate swaps in Accumulated Other Comprehensive Loss (“OCL”), which is included in the equity section of the Balance Sheets. The Company recorded payments made or received under the interest rate swap agreements in Interest Expense on the Statements of Operations. The Company analyzed ineffectiveness on a quarterly basis and recorded the effect of any ineffectiveness in Interest Expense in the Statements of Operations. Payments related to interest rate swap termination agreements were expensed as incurred. See Note 3 for more detailed information.

Cash and Cash Equivalents and Restricted Cash

Cash and cash equivalents include cash and highly-liquid money market instruments. Highly-liquid money market instruments include securities and repurchase agreements with original maturities of three months or less, money market mutual funds and United States Treasury Bills with maturities of 30 days or less. Restricted cash primarily represents amounts restricted under debt agreements for future capital expenditures or for specific future operating costs.

New Accounting Pronouncements

In June 2011, the FASB issued new guidance related to the presentation of other comprehensive income (“OCI”). Currently, the Company includes components of OCI in the Statements of Equity. The new guidance requires, among other items, the presentation of the components of net income and OCI in one continuous statement or in two separate but consecutive statements. The guidance is effective for periods beginning after December 15, 2011. The Company does not expect adoption of this guidance to have a material effect on results of operations or financial condition.

Reclassifications

The Company earns fees and incurs expenses related to the management, development and leasing of properties owned both by third parties and by joint ventures in which the Company has an ownership interest. In the first quarter of 2011, the Company began separating on the Statements of Operations the third party management and leasing revenues, including reimbursements, for Cousins Properties Services (“CPS”), a wholly-owned subsidiary that performs management and leasing services for third-party owned office and retail properties. The Company also began separately stating expenses associated with CPS which were previously included in the General and Administrative and Other expense line items. The amounts remaining in Fee Income on the Statements of Operations relate to management, leasing and development fees, including reimbursements, earned by the Company from certain other third party property owners and from joint ventures. Reimbursed amounts relating to these entities are also shown in a separate expense line item, including reimbursed expenses that were previously presented in Other expense. Unreimbursed expenses related to third party management activities outside of CPS are included in General and Administrative expenses. Prior periods have been revised to conform to this new presentation.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements and notes. Actual results could differ from those estimates.

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Notes and Other Receivables (Tables)

12 Months Ended

Dec. 31, 2011

Notes and Other Receivables [Abstract]

Components of Notes and other receivables

		September 30,			September 30,
	2011			2010
Notes receivable, net of allowance for doubtful accounts of $3,109 and $3,671 in 2011 and 2010, respectively	$	3,286		$	3,797
Cumulative rental revenue recognized on a straight-line basis in excess of revenue accrued in accordance with lease terms (see Note 2)		37,141			34,231
Tenant and other receivables		10,064			12,983
Allowance for doubtful accounts related to straight-line rents, tenant and other receivables		(1,991	)		(2,616	)
	$	48,500		$	48,395

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Reportable Segments (Details 1) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
REVENUES:
Net operating income	$ 86,296	$ 88,063	$ 83,220
Plus rental property operating expenses	55,918	53,750	57,996
Fee income	18,213	17,830	18,300
Reimbursed expenses	6,208	6,297	5,378
Residential lot, outparcel, and multi-family unit sales, net of cost of sales, including gain on sale of undepreciated investment properties	5,559	14,366	8,853
Less gain on sale of undepreciated investment properties not included in revenues	(3,258)	(1,697)	(1,243)
Plus residential lot, multi-family unit, tract, and outparcel cost of sales	5,378	37,716	30,652
Net operating income from discontinued operations not included in revenues	(6,641)	(11,291)	(12,972)
Other income	2,130	1,264	3,025
Other income - discontinued operations	(98)	(35)	(53)
Total consolidated revenues	178,464	215,556	203,284
Third party and joint venture [Member]
REVENUES:
Third party management and leasing expense reimbursements	$ 8,759	$ 9,293	$ 10,128

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Significant Accounting Policies (Details 1) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Weighted average shares basic and diluted
Weighted-average shares-basic	103,651	101,440	65,495
Dilutive potential common shares:
Stock options
Anti-dilutive options at period end not included	5,836	6,460	6,944
Weighted-average shares-diluted	103,651	101,440	65,495

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Equity and Stock Based-Compensation (Details 1) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011
Stock options activity
Number of Options Outstanding, beginning of year, shares	6,460
Weighted Average Exercise Price Per Option Outstanding, beginning of year	$ 21.30
Number of Options, Granted	213
Weighted Average Exercise Price Per Option, Granted	$ 8.43
Number of Options, Exercised	(4)
Weighted Average Exercise Price Per Option Exercised	$ 8.35
Number of Options, Forfeited/Expired	(709)
Weighted Average Exercise Price Per Option, Forfeited/Expired	$ 21.49
Number of Options Outstanding, end of year, shares	5,960
Weighted Average Exercise Price Per Option Outstanding, end of year	$ 20.83
Number of Options exercisable at end of year	5,396
Weighted Average Exercise Price Per Option Exercisable at End of Year	$ 22.17

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Other Assets (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Other Assets
Investment in Verde Realty	$ 5,868	$ 9,376
Lease inducements, net of accumulated amortization of $3,696 and $2,991 in 2011 and 2010, respectively	12,219	11,899
FF&E and Leasehold Improvements, Net of Accumulated Depreciation of $17814 and $16,117 in 2011 and 2010, Respectively	4,736	4,673
Prepaid expenses and other assets	2,168	2,296
Loan closing costs, net of accumulated amortization of $4026 and $3,109 in 2011 and 2010, respectively	1,435	2,703
Predevelopment costs and earnest money	581	7,039
Intangible Assets:
In-place leases, net of accumulated amortization of $2833 and $2,492 in 2011 and 2010, respectively	16,144	322
Goodwill	5,155	5,430	5,450
Above market leases, net of accumulated amortization of $8845 and $8,741 in 2011 and 2010, respectively	4,414	526
Total Other Assets	$ 52,720	$ 44,264

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
PROPERTIES:
Operating properties, net of accumulated depreciation of $289,473 and $274,925 in 2011 and 2010, respectively	$ 884,652	$ 898,119
Projects under development	11,325	0
Land held for investment	54,132	123,879
Residential lots	13,195	63,403
Other	637	2,994
Total properties	963,941	1,088,395
CASH AND CASH EQUIVALENTS	4,858	7,599
RESTRICTED CASH	4,929	15,521
NOTES AND OTHER RECEIVABLES, net of allowance for doubtful accounts of $5,100 and $6,287 in 2011 and 2010, respectively	48,500	48,395
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	160,587	167,108
OTHER ASSETS	52,720	44,264
TOTAL ASSETS	1,235,535	1,371,282
LIABILITIES AND EQUITY
NOTES PAYABLE	539,442	509,509
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	36,075	32,388
DEFERRED GAIN	3,980	4,216
DEPOSITS AND DEFERRED INCOME	15,880	18,029
TOTAL LIABILITIES	595,377	564,142
COMMITMENTS AND CONTINGENT LIABILITIES
REDEEMABLE NONCONTROLLING INTERESTS	2,763	14,289
Preferred stock, 20,000,000 shares authorized, $1 par value:
Common stock, $1 par value, 250,000,000 shares authorized, 107,272,078 and 106,961,959 shares issued in 2011 and 2010, respectively	107,272	106,962
Additional paid-in capital	687,835	684,551
Treasury stock at cost, 3,570,082 shares in 2011 and 2010	(86,840)	(86,840)
Distributions in excess of cumulative net income	(274,177)	(114,196)
TOTAL STOCKHOLDERS' INVESTMENT	603,692	760,079
Nonredeemable noncontrolling interests	33,703	32,772
TOTAL EQUITY	637,395	792,851
TOTAL LIABILITIES AND EQUITY	1,235,535	1,371,282
Series A Preferred Stock [Member]
Preferred stock, 20,000,000 shares authorized, $1 par value:
Cumulative redeemable preferred stock	74,827	74,827
Series B Preferred Stock [Member]
Preferred stock, 20,000,000 shares authorized, $1 par value:
Cumulative redeemable preferred stock	$ 94,775	$ 94,775

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Notes Payable, Commitments and Contingencies (Details 3) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Detail of interest expensed and incurred
Total interest incurred	$ 28,384	$ 37,180	$ 45,129
Interest expense			(1,634)
Interest capitalized	(600)		(3,736)
Total interest expense	$ 27,784	$ 37,180	$ 39,759

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Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (123,467)	$ (12,033)	$ 29,547
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Impairment losses	107,763	2,554	40,512
Gain on sale of investment properties, including discontinued operations	(12,013)	(9,164)	(168,784)
Losses on abandoned predevelopment projects	937	829	7,723
Loss (gain) on extinguishment of debt	74	592	(12,498)
Impairment loss on investment in unconsolidated joint ventures	608		51,058
Depreciation and amortization, including discontinued operations	54,061	59,956	55,833
Amortization of deferred financing costs	1,637	2,074	1,473
Stock-based compensation	2,113	2,348	3,743
Effect of certain non-cash adjustments to rental revenues	(6,719)	(5,142)	(4,970)
(Income) loss from unconsolidated joint ventures	17,691	(9,493)	17,639
Operating distributions from unconsolidated joint ventures	8,865	11,394	7,237
Residential lot, outparcel and multi-family cost of sales, net of closing costs paid	5,187	35,743	27,415
Residential lot, outparcel and multi-family acquisition and development expenditures	(999)	(3,272)	(7,283)
Change in deferred income taxes, net of valuation allowance			8,897
Income tax deficiency from stock-based compensation			43
Changes in other operating assets and liabilities:
Change in other receivables and other assets, net	2,099	3,870	(3,537)
Change in accounts payable and accrued liabilities	(2,256)	(560)	(10,884)
Net cash provided by operating activities	55,581	79,696	43,164
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from investment property sales	143,623	101,706	11,727
Property acquisition and development and tenant asset expenditures	(181,909)	(33,761)	(53,874)
Investment in unconsolidated joint ventures	(23,341)	(26,229)	(5,234)
Distributions from unconsolidated joint ventures	8,428	16,024	4,830
Collection of notes receivable, net of investment	747	134	(34)
Change in other assets	(3,002)	(1,363)	(2,812)
Change in restricted cash	10,592	(12,409)	51
Payment of debt guarantee for unconsolidated joint venture		(17,250)
Net cash provided by (used in) investing activities	(44,862)	26,852	(45,346)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from credit facility	256,275	100,300	165,000
Repayment of credit and term facilities	(163,425)	(134,900)	(436,000)
Proceeds from other notes payable		27,034
Repayment of notes payable	(59,543)	(73,133)	(75,819)
Payment of loan issuance costs	(442)	(1,996)
Common stock issued, net of expenses	18	(95)	318,406
Income tax deficiency from stock-based compensation			(43)
Cash common dividends paid	(18,649)	(12,176)	(22,710)
Cash preferred dividends paid	(12,907)	(12,907)	(12,907)
Contributions from noncontrolling interests	1,300	2,237	32
Distributions to noncontrolling interests	(16,087)	(2,777)	(7,276)
Net cash used in financing activities	(13,460)	(108,413)	(71,317)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(2,741)	(1,865)	(73,499)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	7,599	9,464	82,963
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 4,858	$ 7,599	$ 9,464

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Equity and Stock Based-Compensation (Details Textual) (USD $)				12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	May 09, 2009	Dec. 31, 2010 Common Stock [Member]	Dec. 31, 2009 Common Stock [Member]	Dec. 31, 2011 Preferred Stock [Member]	Dec. 31, 2008 Preferred Stock [Member]	Dec. 31, 2008 Series A Preferred Stock [Member]	Dec. 31, 2008 Series B Preferred Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchase of Common stock	3,570,082	3,570,082	5,000,000
Number of stock repurchased under the Stock Repurchase Plan				0	0	0		1,006,910	209,000
Aggregate price of repurchase stock							$ 15,800,000
Aggregate price of repurchase stock	$ 86,840,000	$ 86,840,000

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Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2011

Noncontrolling Interests [Abstract]

Components of redeemable noncontrolling interests in consolidated subsidiaries

		September 30,			September 30,
	2011			2010
Beginning Balance	$	14,289		$	12,591
Net income attributable to redeemable noncontrolling interests		1,433			176
Distributions to redeemable noncontrolling interests		(12,193	)		(337	)
Contributions from redeemable noncontrolling interests		—			2,237
Change in fair value of redeemable noncontrolling interests		(766	)		(378	)
Ending Balance	$	2,763		$	14,289

Reconcile Net Income Attributable to Nonredeemable Noncontrolling Interests

		September 30,		September 30,		September 30,
	2011		2010		2009
Net income attributable to nonredeemable noncontrolling interests	$	3,525	$	2,364	$	2,426
Net income (loss) attributable to redeemable noncontrolling interests		1,433		176		(174	)
Net income attributable to noncontrolling interests	$	4,958	$	2,540	$	2,252

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Property Transactions (Details) (USD $) In Thousands, unless otherwise specified	11 Months Ended	12 Months Ended
	Nov. 30, 2011 sqft	Dec. 31, 2011 King Mill Distribution Park Suburban Atlanta, GA [Member] sqft	Dec. 31, 2011 Lakeside Ranch Business Park Dallas, TX [Member] sqft	Dec. 31, 2011 One Georgia Center Atlanta, GA [Member] sqft	Dec. 31, 2011 Jefferson Mill Business Park - Building A Suburban Atlanta, GA [Member] sqft	Dec. 31, 2011 8995 Westside Parkway, Atlanta GA [Member] sqft	Dec. 31, 2011 San Jose MarketCenter, San Jose CA [Member] sqft
Summary of sales in discontinued operations
Area of disposed real estate assets	775,000	796,000	749,000	376,000	459,000	51,000	213,000
Sales price of property sold, discontinued operations		$ 28,300	$ 28,400	$ 48,600	$ 22,000	$ 3,200	$ 85,000

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Reportable Segments

12 Months Ended

Dec. 31, 2011

Reportable Segments [Abstract]

REPORTABLE SEGMENTS

16. REPORTABLE SEGMENTS

The Company has five reportable segments: Office, Retail, Land, CPS Third Party Management and Leasing, and Other. These reportable segments represent an aggregation of operating segments reported to the Chief Operating Decision Maker based on similar economic characteristics that include the type of product and the nature of service. Each segment includes both consolidated operations and joint ventures. The Office and Retail segments show the results for that product type. For these two segments, net operating income is calculated as rental property revenues less rental property operating expenses. The Land segment includes results of operations for certain land holdings and single-family residential communities that are sold as developed lots to homebuilders. Fee income and related expenses for the third party-owned properties which are managed or leased by the Company’s CPS subsidiary are included in the CPS Third Party Management and Leasing segment. In 2010 and 2009, the Company had an additional segment, the For-Sale Multi-Family Residential Unit, segment which included results of operations for the development and sale of multi-family real estate projects. The Company has sold substantially all of its multi-family residential units, and this line of business is no longer considered to be a separate reporting segment. The 2011 results for this segment are included in Other. The Other segment also includes:

• fee income for third party owned and joint venture properties, other than those managed by CPS, for which the Company performs management, development and leasing services (fee income from residential joint ventures is included in the Land segment);

• compensation for corporate employees, other than those in the CPS Third Party Management and Leasing segment;

• general corporate overhead costs, interest expense for consolidated entities (as financing decisions are made at the corporate level, with the exception of joint venture interest expense, which is included in joint venture results in the respective segment);

• income attributable to noncontrolling interests;

• income taxes;

• depreciation;

• preferred dividends; and

• operations of the Industrial buildings, which are not material for separate presentation, and were all sold in 2011.

Company management evaluates the performance of its reportable segments in part based on funds from operations available to common stockholders (“FFO”). FFO is a supplemental operating performance measure used in the real estate industry. The Company calculated FFO using the National Association of Real Estate Investment Trusts’ (“NAREIT”) definition of FFO, which is net income (loss) available to common stockholders (computed in accordance with GAAP), excluding extraordinary items, cumulative effect of change in accounting principle and gains on sale or impairment losses on depreciable property, plus depreciation and amortization of real estate assets, and after adjustments for unconsolidated partnerships and joint ventures to reflect FFO on the same basis.

FFO is used by industry analysts, investors and the Company as a supplemental measure of a REIT’s operating performance. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, many industry investors and analysts have considered presentation of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. Thus, NAREIT created FFO as a supplemental measure of a REIT’s operating performance that excludes historical cost depreciation, among other items, from GAAP net income. Management believes the use of FFO, combined with the required primary GAAP presentations, has been fundamentally beneficial, improving the understanding of operating results of REITs among the investing public and making comparisons of REIT operating results more meaningful. Company management evaluates operating performance in part based on FFO. Additionally, the Company uses FFO, along with other measures, to assess performance in connection with evaluating and granting incentive compensation to its officers and other key employees.

Segment net income, the balance of the Company’s investment in joint ventures and the amount of capital expenditures are not presented in the following tables. Management does not utilize these measures when analyzing its segments or when making resource allocation decisions, and therefore this information is not provided. FFO is reconciled to net income (loss) on a total Company basis (in thousands):

		000000		000000			000000			000000			000000			000000
Year Ended December 31, 2011	Office		Retail			Land			CPS Third Party Management and Leasing			Other			Total
Net operating income, including discontinued operations	$	61,796	$	20,917		$	—		$	—		$	3,583		$	86,296
Fee income, net of reimbursed expenses		—		—			105			10,600			7,508			18,213
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties		—		50			3,332			—			2,177			5,559
Other income		1,563		87			—			—			480			2,130
Third party management and leasing expenses		—		—			—			(7,826	)		—			(7,826	)
General and administrative expenses		—		—			—			—			(24,166	)		(24,166	)
Interest expense		—		—			—			—			(27,784	)		(27,784	)
Impairment losses		—		(1,730	)		(94,793	)		—			(3,608	)		(100,131	)
Depreciation and amortization of non-real estate assets		—		—			—			—			(1,688	)		(1,688	)
Separation expenses		—		—			—			—			(197	)		(197	)
Other expenses		—		—			—			—			(4,436	)		(4,436	)
Loss on extinguishment of debt		—		—			—			—			(74	)		(74	)
Funds from operations from unconsolidated joint ventures		11,071		8,712			(27,211	)		—			73			(7,355	)
Impairment loss on investment in unconsolidated joint ventures		—		—			(608	)		—			—			(608	)
Income attributable to noncontrolling interests, excluding amounts related to gain on sale of depreciated investment properties		—		—			—			—			(2,087	)		(2,087	)
Benefit for income taxes from operations		—		—			—			—			186			186
Preferred stock dividends		—		—			—			—			(12,907	)		(12,907	)
Funds from operations available to common stockholders	$	74,430	$	28,036		$	(119,175	)	$	2,774		$	(62,940	)		(76,875	)
Real estate depreciation and amortization, including Company’s share of joint ventures																(62,709	)
Impairment losses on depreciable investment properties																(7,632	)
Noncontrolling interest related to gain on sale of depreciated investment properties																(2,871	)
Gain on sale of depreciated investment properties																8,755
Net loss available to common stockholders															$	(141,332	)
Total Assets	$	732,857	$	375,923		$	108,172		$	4,302		$	14,281		$	1,235,535

		000000			000000		000000			000000			000000			000000			000000
Year Ended December 31, 2010	Office			Retail		Land			CPS Third Party Management and Leasing			For-Sale Multi- Family			Other			Total
Net operating income, including discontinued operations	$	60,646		$	23,792	$	—		$	—		$	—		$	3,625		$	88,063
Fee income, net of reimbursed expenses		—			—		211			9,668			—			7,951			17,830
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties		—			4,661		1,076			—			7,425			1,204			14,366
Other income		436			114		—			—			—			714			1,264
Third party management and leasing expenses		—			—		—			(8,100	)		—			—			(8,100	)
General and administrative expenses		—			—		—			—			—			(28,517	)		(28,517	)
Interest expense		—			—		—			—			—			(37,180	)		(37,180	)
Impairment losses		—			—		(1,968	)		—			(586	)		—			(2,554	)
Depreciation and amortization of non-real estate assets		—			—		—			—			—			(1,889	)		(1,889	)
Separation expenses		—			—		—			—			—			(1,045	)		(1,045	)
Other expenses		—			—		—			—			—			(4,416	)		(4,416	)
Loss on extinguishment of debt and interest rate swaps		—			—		—			—			—			(9,827	)		(9,827	)
Funds from operations from unconsolidated joint ventures		9,863			6,443		2,375			—			473			—			19,154
Income attributable to noncontrolling interests		—			—		—			—			—			(2,540	)		(2,540	)
Benefit for income taxes from operations		—			—		—			—			—			1,079			1,079
Preferred stock dividends		—			—		—			—			—			(12,907	)		(12,907	)
Funds from operations available to common stockholders	$	70,945		$	35,010	$	1,694		$	1,568		$	7,312		$	(83,748	)		32,781
Real estate depreciation and amortization, including Company’s share of joint ventures																			(67,728	)
Gain on sale of depreciated investment properties																			7,467
Net loss available to common stockholders																		$	(27,480	)
Total Assets	$	671,540		$	348,470	$	261,323		$	4,050		$	4,564		$	81,335		$	1,371,282
Year Ended December 31, 2009	Office			Retail		Land			CPS Third Party Management and Leasing			For-Sale Multi- Family			Other			Total
Net operating income, including discontinued operations	$	57,257		$	24,395	$	—		$	—		$	—		$	1,568		$	83,220
Fee income, net of reimbursed expenses		—			—		616			11,838			—			5,846			18,300
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties		276			1,841		1,466			—			5,212			58			8,853
Other income		286			1,431		—			—			—			1,308			3,025
Third party management and leasing expenses		—			—		—			(7,750	)		—			—			(7,750	)
General and administrative expenses		—			—		—			—			—			(26,198	)		(26,198	)
Interest expense		—			—		—			—			—			(41,393	)		(41,393	)
Impairment losses		—			—		—			—			(36,500	)		(4,012	)		(40,512	)
Depreciation and amortization of non-real estate assets		—			—		—			—			—			(3,382	)		(3,382	)
Separation expenses		—			—		—			—			—			(3,257	)		(3,257	)
Other expenses		—			—		—			—			—			(13,143	)		(13,143	)
Loss on extinguishment of debt and interest rate swaps		—			—		—			—			—			9,732			9,732
Funds from operations from unconsolidated joint ventures		(11,149	)		6,440		(4,091	)		—			(60	)		(37	)		(8,897	)
Impairment loss on investment in unconsolidated joint ventures		(17,993	)		—		(27,000	)		—			(6,065	)		—			(51,058	)
Income attributable to noncontrolling interests		—			—		—			—			—			(2,252	)		(2,252	)
Provision for income taxes from operations		—			—		—			—			—			(4,341	)		(4,341	)
Preferred stock dividends		—			—		—			—			—			(12,907	)		(12,907	)
Funds from operations available to common stockholders	$	28,677		$	34,107	$	(29,009	)	$	4,088		$	(37,413	)	$	(92,410	)		(91,960	)
Real estate depreciation and amortization, including Company’s share of joint ventures																			(61,205	)
Gain on sale of depreciated investment properties, including Company’s share of joint ventures																			167,553
Net income available to common stockholders																		$	14,388
Total Assets	$	650,958		$	429,099	$	273,026		$	7,291		$	31,206		$	99,972		$	1,491,552

When reviewing the results of operations for the Company, management analyzes the following revenue and income items net of their related costs:

• Rental property operations, including discontinued;

• Reimbursements of third-party and joint venture personnel costs;

• Residential, tract and outparcel sales;

• Multi-family sales; and

• Gains on sales of investment properties.

These amounts are shown in the segment tables above in the same “net” manner as shown to management. Certain adjustments are required to reconcile the above segment information to the Company’s consolidated revenues, including removing gains on sales of investment properties from revenues, as they are not presented within revenues on the Statements of Operations. The following table reconciles information presented in the tables above to the Company’s consolidated revenues (in thousands):

		September 30,			September 30,			September 30,
	2011			2010			2009
Net operating income	$	86,296		$	88,063		$	83,220
Plus rental property operating expenses		55,918			53,750			57,996
Fee income		18,213			17,830			18,300
Third party management and leasing expense reimbursements		8,759			9,293			10,128
Reimbursed expenses		6,208			6,297			5,378
Residential lot, outparcel, and multi-family unit sales, net of cost of sales, including gain on sale of undepreciated investment properties		5,559			14,366			8,853
Less gain on sale of undepreciated investment properties not included in revenues		(3,258	)		(1,697	)		(1,243	)
Plus residential lot, multi-family unit and outparcel cost of sales		5,378			37,716			30,652
Net operating income from discontinued operations not included in revenues		(6,641	)		(11,291	)		(12,972	)
Other income		2,130			1,264			3,025
Other income — discontinued operations		(98	)		(35	)		(53	)
Total consolidated revenues	$	178,464		$	215,556		$	203,284

************

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Rental Property Revenues (Tables)

12 Months Ended

Dec. 31, 2011

Rental Property Revenues [Abstract]

Future minimum rentals to be received under existing non-cancelable leases

		September 30,		September 30,		September 30,
	Office		Retail		Total
2012	$	82,153	$	23,338	$	105,491
2013		81,797		24,228		106,025
2014		79,737		23,350		103,087
2015		73,031		22,789		95,820
2016		65,992		18,942		84,934
Thereafter		268,816		51,106		319,922
	$	651,526	$	163,753	$	815,279

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Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2011

Significant Accounting Policies [Abstract]

Description of Business

Description of Business: Cousins Properties Incorporated (“Cousins”), a Georgia corporation, is a self-administered and self-managed real estate investment trust (“REIT”). Cousins Real Estate Corporation (“CREC”) is a taxable entity wholly-owned by and consolidated with Cousins. CREC owns, develops, and manages its own real estate portfolio and performs certain real estate related services for other parties.

Cousins, CREC and their subsidiaries (collectively, the “Company”) develop, manage and own office, retail, and residential real estate projects. As of December 31, 2011, the Company’s portfolio of real estate assets consisted of interests in 7.8 million square feet of office space, 4.8 million square feet of retail space, interests in 22 residential communities and residential and commercial undeveloped land, the Company’s share of which was approximately 5,000 acres. The Company also provides leasing and/or management services for approximately 12.7 million square feet of office and retail space owned by third parties.

Basis of Presentation

Basis of Presentation: The Consolidated Financial Statements include the accounts of Cousins, its consolidated partnerships and wholly-owned subsidiaries, and CREC and its consolidated subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. The Company presents its financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) as outlined in the Financial Accounting Standard Board’s Accounting Standards Codification (the “Codification” or “ASC”). The Codification is the single source of authoritative accounting principles applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP.

The Company evaluates all partnerships, joint ventures and other arrangements with variable interests to determine if the entity or arrangement qualifies as a variable interest entity (“VIE”), as defined in the Codification. If the entity or arrangement qualifies as a VIE and the Company is determined to be the primary beneficiary, the Company is required to consolidate the assets, liabilities and results of operations of the VIE.

The Company has a joint venture with Callaway Gardens Resort, Inc. (“Callaway”) for the development of residential lots, which is anticipated to be funded fully through Company contributions. Callaway has the right to receive returns, but no obligation to fund any costs or absorb any losses. The Company is the sole decision maker for the venture and the development manager. The Company has determined that Callaway is a VIE, and the Company is the primary beneficiary. Therefore, the Company consolidates this joint venture. As of December 31, 2011 and 2010, Callaway had total assets of $4.9 million and $15.7 million, respectively, and no significant liabilities.

Equity method investments

For unconsolidated entities that the Company does not control, but exercises significant influence, the Company uses the equity method of accounting. Descriptions of each of the Company’s investments accounted for under the equity method are included in Note 4. Contributions to unconsolidated joint ventures are recorded as Investments in Unconsolidated Joint Ventures. This account is subsequently adjusted for the Company’s share of income or loss from unconsolidated joint ventures, as well as contributions and distributions to and from the entities. Any difference between the carrying amount of these investments on the Company’s Balance Sheet and the underlying equity in net assets on the joint venture’s balance sheet is adjusted as the related underlying assets are depreciated, amortized or sold.

The Company consolidates certain joint ventures that it controls. In cases where the entity’s documents do not contain a required redemption clause, the Company records the partner’s share of the entity in the Equity section of the Balance Sheets in a line item called Nonredeemable Noncontrolling Interests. In cases where the entity’s documents contain a provision requiring the Company to purchase the partner’s share of the venture at a certain value upon demand or at a future date, the Company records the partner’s share of the entity in Redeemable Noncontrolling Interests on the Balance Sheets. Amounts recorded in Redeemable Noncontrolling Interests are adjusted to the higher of fair value or the partner’s cost basis each reporting period. The effect of these adjustments is recorded in Additional Paid-in Capital within Total Stockholders’ Investment. The noncontrolling partner’s share of all consolidated joint ventures income is reflected in Net Income Attributable to Noncontrolling Interest on the Statements of Operations.

Cost capitalization

Cost Capitalization: Costs related to planning, developing, leasing and constructing a property are capitalized and classified as Properties in the Balance Sheets. These costs include costs of development personnel who work directly on projects under development based on actual time spent on each project. In addition, the Company capitalizes interest to qualifying assets under development based on average accumulated expenditures outstanding during the period. In capitalizing interest to qualifying assets, the Company first uses the interest incurred on specific project debt, if any, and next uses the Company’s weighted average interest rate for non-project specific debt. The Company also capitalizes interest to investments accounted for under the equity method when the investee has property under development with a carrying value in excess of the investee’s borrowings. To the extent debt exists within an unconsolidated joint venture during the construction period, the venture capitalizes interest on that venture specific debt.

The Company capitalizes interest, real estate taxes and certain operating expenses on the unoccupied portion of recently completed development properties from the date a project receives its certificate of occupancy to the earlier of (1) the date on which the project achieves 95% economic occupancy or (2) one year after it receives its certificate of occupancy.

The Company capitalizes direct leasing costs related to leases that are probable of being executed. These costs include commissions paid to outside brokers, legal costs incurred to negotiate and document a lease agreement and internal costs that are based on time spent by leasing personnel on successful leases. The Company allocates these costs to individual tenant leases and amortizes them over the related lease term.

Long-Lived Assets

Impairment: The Company’s long-lived assets are mainly its real estate assets, which include operating properties, projects under development, undeveloped land, and residential lots. For those long-lived assets that are considered to be held for sale, the Company records impairment losses if the fair value of the asset net of estimated selling costs is less than the carrying amount. For those long-lived assets that are held and used, management reviews each asset for the existence of any indicators of impairment. If indicators of impairment are present, the Company calculates the expected undiscounted future cash flows to be derived from such assets. If the undiscounted cash flows are less than the carrying amount of the asset, the Company reduces the asset to its fair value. See Note 5 for impairments recognized during 2011, 2010 and 2009.

The accounting treatment for long-lived assets is the same within the Company’s unconsolidated joint ventures. See Notes 4 and 5 for more information on impairments recognized within the Company’s unconsolidated joint ventures during 2011, 2010 and 2009.

The Company evaluates the recoverability of its investment in unconsolidated joint ventures in accordance with accounting standards for equity investments by first reviewing each investment for any indicators of impairment. If indicators are present, the Company estimates the fair value of the investment. If the carrying value of the investment is greater than the estimated fair value, management makes an assessment of whether the impairment is “temporary” or “other-than-temporary.” In making this assessment, management considers the following: (1) the length of time and the extent to which fair value has been less than cost, (2) the financial condition and near-term prospects of the entity, and (3) the Company’s intent and ability to retain its interest long enough for a recovery in market value. See Note 5 for more information on impairments recognized on the Company’s investments in unconsolidated joint ventures, if any, during 2011, 2010 and 2009.

Goodwill and intangible assets

The Company evaluates its goodwill annually, as of November 30 (or at any point during the year if indicators of impairment exist), for impairment using a discounted cash flow analysis. The Company recorded no goodwill impairments during 2011, 2010 or 2009.

Goodwill relates entirely to the office reporting unit. As office assets are sold, either by the Company or by joint ventures in which the Company has an interest, goodwill is allocated to the cost of each sale. The following is a summary of goodwill activity for the years ended December 31, 2011 and 2010 (in thousands):

Acquisition of operating properties

Acquisition of Operating Properties: The Company records the acquired tangible and intangible assets and assumed liabilities of operating property acquisitions at fair value at the acquisition date. The acquired assets and assumed liabilities for an operating property acquisition generally include but are not limited to: land, buildings and improvements, and identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any.

The fair value of land is derived from comparable sales of land within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs are based upon current market replacement costs and other relevant market rate information.

The fair value of the above-market or below-market component of an acquired in-place lease is based upon the present value (calculated using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining term and (ii) management’s estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition over the remaining term of the lease. The amounts recorded for above-market leases are included in Other Assets on the Balance Sheet and are amortized on a straight-line basis as a reduction of rental income over the remaining term of the applicable leases. The amounts recorded for below-market leases are included in Accounts Payable and Accrued Liabilities and are amortized on a straight-line basis as an increase to rental income over the remaining term of the applicable leases.

The fair value of acquired in-place leases is derived based on management’s assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. The amount recorded for acquired in-place leases is included in Other Assets and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases.

Depreciation and Amortization

Depreciation and Amortization: Real estate assets are stated at the lower of fair value or depreciated cost. Buildings are depreciated over their estimated useful lives, which range from 24-40 years. The life of a particular building depends upon a number of factors including whether the building was developed or acquired and the condition of the building upon acquisition. Furniture, fixtures and equipment are depreciated over their estimated useful lives of three to five years. Tenant improvements, leasing costs and leasehold improvements are amortized over the term of the applicable leases or the estimated useful life of the assets, whichever is shorter. The Company accelerates the depreciation of tenant assets if it estimates that the lease term will end prior to the termination date. This acceleration may occur if a tenant files for bankruptcy, vacates its premises or defaults in another manner on its lease. Deferred expenses are amortized over the period of estimated benefit. The Company uses the straight-line method for all depreciation and amortization.

Discontinued Operation

Discontinued Operations: Gains or losses from the disposition of certain real estate assets and the related historical results of operations of these assets disposed of or held-for-sale, as defined, are included in a separate section, Discontinued Operations, on the Statements of Operations for all periods presented. The Company also assesses whether it has significant continuing involvement in the property, as outlined in the accounting rules, and if it does, the property does not qualify as a discontinued operation. The Company ceases depreciation of a property when it is categorized as held-for-sale. See Note 8 for a detail of property transactions that met these requirements.

Revenue Recognition

Revenue Recognition

Rental Property Revenues: The Company recognizes income from leases which include scheduled increases in rental rates over the lease term (other than scheduled increases based on the Consumer Price Index) and/or periods of free rent on a straight-line basis. The Company recognizes revenues from tenants for operating expenses that the Company incurs which may be billed back to the tenants pursuant to their lease agreements. These operating expenses include items such as real estate taxes, insurance and other property operating costs. During 2011, 2010 and 2009, the Company recognized $26.9 million, $25.5 million and $25.4 million, respectively, in revenues from tenants related to operating expenses.

The Company makes valuation adjustments to all tenant-related accounts receivable based upon its estimate of the likelihood of collectibility of amounts due from the tenant. The Company analyzes the tenant’s credit and business risk, history of payment and other factors in order to aid in its assessment. The Company generally reserves accounts receivable on specific tenants where rental payments or reimbursements are delinquent 90 days or more. Reserves may also be recorded for amounts outstanding less than 90 days if management deems the collectibility is highly questionable.

Fee Income: The Company recognizes development and leasing fees when earned. The Company recognizes development and leasing fees received from unconsolidated joint ventures and related salaries and other direct costs incurred by the Company as income and expense based on the percentage of the joint venture which the Company does not own. Correspondingly, the Company adjusts the Investment in Unconsolidated Joint Ventures asset when fees are paid to the Company by a joint venture in which the Company has an ownership interest. The Company amortizes these adjustments over a relevant period in Income from Unconsolidated Joint Ventures.

Under management agreements with both third party property owners and joint venture properties in which the Company has an ownership interest, the Company receives management and leasing fees, as well as expense reimbursements comprised primarily of on-site personnel’s salaries and benefits. The Company expenses salaries and other direct costs related to these management and leasing agreements. The Company also obtains reimbursements for certain expenditures incurred under development agreements with both third party and joint venture entities. The Company records management, leasing and development fees and the related reimbursements in Fee Income and Third Party Management and Leasing Revenues on the Statements of Operations in the same period as the corresponding expenses are incurred.

Residential Lot Sales: The Company recognizes sales and related cost of sales of developed lots to homebuilders upon closing, the majority of which historically have been accounted for on the full accrual method. If a substantial continuing obligation exists related to the sale, the Company uses the percentage of completion method. If other criteria for the full accrual method are not met, the Company utilizes the appropriate revenue recognition policy as detailed in ASC 360. Management estimates cost of sales based on profit percentages for the entire project and applies these percentages to each individual lot sale in a consistent manner. If the anticipated profit percentage changes during the course of a project, the Company adjusts cost of sales prospectively to reflect the new metrics.

Gain on Sale of Investment Properties: The Company recognizes a gain on sale of investment when the sale of a property is consummated, the buyer’s initial and continuing investment is adequate to demonstrate commitment to pay, any receivable obtained is not subject to future subordination, the usual risks and rewards of ownership are transferred and the Company has no substantial continuing involvement with the property. If the Company has a commitment to the buyer and that commitment is a specific dollar amount, this commitment is accrued and the gain on sale that the Company recognizes is reduced. If the Company has a construction commitment to the buyer, management makes an estimate of this commitment, defers a portion of the profit from the sale and recognizes the deferred profit as or when the commitment is fulfilled.

Receivable Policy

The Company makes valuation adjustments to all tenant-related accounts receivable based upon its estimate of the likelihood of collectibility of amounts due from the tenant. The Company analyzes the tenant’s credit and business risk, history of payment and other factors in order to aid in its assessment. The Company generally reserves accounts receivable on specific tenants where rental payments or reimbursements are delinquent 90 days or more. Reserves may also be recorded for amounts outstanding less than 90 days if management deems the collectibility is highly questionable.

Income Taxes

Income Taxes

Cousins has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, Cousins must distribute annually at least 90% of its adjusted taxable income, as defined in the Code, to its stockholders and satisfy certain other organizational and operating requirements. It is management’s current intention to adhere to these requirements and maintain Cousins’ REIT status. As a REIT, Cousins generally will not be subject to federal income tax at the corporate level on the taxable income it distributes to its stockholders. If Cousins fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Cousins may be subject to certain state and local taxes on its income and property, and to federal income taxes on its undistributed taxable income.

CREC, a C-Corporation for federal income tax purposes, uses the liability method of accounting for income taxes. Tax return positions are recognized in the financial statements when they are “more-likely-than-not” to be sustained upon examination by the taxing authority. Deferred income tax assets and liabilities result from temporary differences. Temporary differences are differences between the tax bases of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future periods. A valuation allowance may be placed on deferred income tax assets, if it is determined that it is more likely than not that a deferred tax asset may not be realized. See Note 7 for more information regarding the tax position of the Company.

Stock-Based Compensation

Stock-Based Compensation

The Company has several types of stock-based compensation plans which are described in Note 6, as well as the accounting policies by type of award. The Company recognizes compensation expense, net of forfeitures, arising from share-based payment arrangements granted to employees and directors in General and Administrative Expense in the Statements of Operations over the related awards’ vesting period, which may be accelerated under the Company’s retirement feature. The Company has capitalized a portion of share-based payment expense to certain properties. Information for the Company’s share-based payment arrangements for the years ended December 31, 2011, 2010 and 2009 is as follows (in thousands):

		September 30,			September 30,			September 30,
	2011			2010			2009
Expensed	$	2,359		$	4,395		$	5,705
Amounts capitalized		(191	)		(282	)		(451	)
	$	2,168		$	4,113		$	5,254

Earnings per Share (EPS)

Earnings per Share (“EPS”)

Net income (loss) per share-basic is calculated as net income (loss) available to common stockholders divided by the weighted average number of common shares outstanding during the period, including nonvested restricted stock which has nonforfeitable dividend rights. Net income (loss) per share-diluted is calculated as net (income) loss available to common stockholders divided by the diluted weighted average number of common shares outstanding during the period. Diluted weighted average number of common shares uses the same weighted average share number as in the basic calculation and adds the potential dilution that would occur if stock options (or any other contracts to issue common stock) were exercised and resulted in additional common shares outstanding, calculated using the treasury stock method. The numerator is reduced for the effect of preferred dividends in both the basic and diluted net income (loss) per share calculations. As of December 31, 2011, 2010 and 2009 weighted average shares – basic and diluted were as follows (in thousands):

		September 30,		September 30,		September 30,
	2011		2010		2009
Weighted average shares—basic		103,651		101,440		65,495
Dilutive potential common shares—stock options		—		—		—
Weighted average shares—diluted		103,651		101,440		65,495

Stock options are dilutive when the average market price of the Company’s stock during the period exceeds the option exercise price. However, in periods where the Company is in a net loss position, the dilutive effect of stock options is not included in the diluted weighted average shares total.

Anti-dilutive stock options represent stock options which are outstanding but which are not exercisable during the period because the exercise price exceeded the average market value of the Company’s stock. These anti-dilutive stock options are not included in the current calculation of dilutive weighted average shares, but could be dilutive in the future. Total weighted average anti-dilutive stock options for the years ending December 31, 2011, 2010 and 2009 were as follows (in thousands):

		September 30,		September 30,		September 30,
	2011		2010		2009
Anti-dilutive options		5,836		6,460		6,944

Derivative Instruments

Derivative Instruments

From time to time, the Company may use derivative instruments, such as interest rate swaps, to effectively manage its interest rate risk on certain debt instruments. Specifically, the Company had interest rate swaps in 2010 and 2009. The Company did not utilize the “shortcut method” of accounting for these instruments and followed the hypothetical derivative method. Except for any portion of the swaps considered to be ineffective, the Company recognized the change in value of the interest rate swaps in Accumulated Other Comprehensive Loss (“OCL”), which is included in the equity section of the Balance Sheets. The Company recorded payments made or received under the interest rate swap agreements in Interest Expense on the Statements of Operations. The Company analyzed ineffectiveness on a quarterly basis and recorded the effect of any ineffectiveness in Interest Expense in the Statements of Operations. Payments related to interest rate swap termination agreements were expensed as incurred. See Note 3 for more detailed information.

Cash and Cash Equivalents and Restricted Cash

Cash and Cash Equivalents and Restricted Cash

Cash and cash equivalents include cash and highly-liquid money market instruments. Highly-liquid money market instruments include securities and repurchase agreements with original maturities of three months or less, money market mutual funds and United States Treasury Bills with maturities of 30 days or less. Restricted cash primarily represents amounts restricted under debt agreements for future capital expenditures or for specific future operating costs.

New Accounting Pronouncement Adoption

New Accounting Pronouncements

In June 2011, the FASB issued new guidance related to the presentation of other comprehensive income (“OCI”). Currently, the Company includes components of OCI in the Statements of Equity. The new guidance requires, among other items, the presentation of the components of net income and OCI in one continuous statement or in two separate but consecutive statements. The guidance is effective for periods beginning after December 15, 2011. The Company does not expect adoption of this guidance to have a material effect on results of operations or financial condition.

Reclassifications

Reclassifications

The Company earns fees and incurs expenses related to the management, development and leasing of properties owned both by third parties and by joint ventures in which the Company has an ownership interest. In the first quarter of 2011, the Company began separating on the Statements of Operations the third party management and leasing revenues, including reimbursements, for Cousins Properties Services (“CPS”), a wholly-owned subsidiary that performs management and leasing services for third-party owned office and retail properties. The Company also began separately stating expenses associated with CPS which were previously included in the General and Administrative and Other expense line items. The amounts remaining in Fee Income on the Statements of Operations relate to management, leasing and development fees, including reimbursements, earned by the Company from certain other third party property owners and from joint ventures. Reimbursed amounts relating to these entities are also shown in a separate expense line item, including reimbursed expenses that were previously presented in Other expense. Unreimbursed expenses related to third party management activities outside of CPS are included in General and Administrative expenses. Prior periods have been revised to conform to this new presentation.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements and notes. Actual results could differ from those estimates.

Segment reporting

The Company has five reportable segments: Office, Retail, Land, CPS Third Party Management and Leasing, and Other. These reportable segments represent an aggregation of operating segments reported to the Chief Operating Decision Maker based on similar economic characteristics that include the type of product and the nature of service. Each segment includes both consolidated operations and joint ventures. The Office and Retail segments show the results for that product type. For these two segments, net operating income is calculated as rental property revenues less rental property operating expenses. The Land segment includes results of operations for certain land holdings and single-family residential communities that are sold as developed lots to homebuilders. Fee income and related expenses for the third party-owned properties which are managed or leased by the Company’s CPS subsidiary are included in the CPS Third Party Management and Leasing segment. In 2010 and 2009, the Company had an additional segment, the For-Sale Multi-Family Residential Unit, segment which included results of operations for the development and sale of multi-family real estate projects. The Company has sold substantially all of its multi-family residential units, and this line of business is no longer considered to be a separate reporting segment. The 2011 results for this segment are included in Other. The Other segment also includes:

• fee income for third party owned and joint venture properties, other than those managed by CPS, for which the Company performs management, development and leasing services (fee income from residential joint ventures is included in the Land segment);

• compensation for corporate employees, other than those in the CPS Third Party Management and Leasing segment;

• general corporate overhead costs, interest expense for consolidated entities (as financing decisions are made at the corporate level, with the exception of joint venture interest expense, which is included in joint venture results in the respective segment);

• income attributable to noncontrolling interests;

• income taxes;

• depreciation;

• preferred dividends; and

• operations of the Industrial buildings, which are not material for separate presentation, and were all sold in 2011.

Company management evaluates the performance of its reportable segments in part based on funds from operations available to common stockholders (“FFO”). FFO is a supplemental operating performance measure used in the real estate industry. The Company calculated FFO using the National Association of Real Estate Investment Trusts’ (“NAREIT”) definition of FFO, which is net income (loss) available to common stockholders (computed in accordance with GAAP), excluding extraordinary items, cumulative effect of change in accounting principle and gains on sale or impairment losses on depreciable property, plus depreciation and amortization of real estate assets, and after adjustments for unconsolidated partnerships and joint ventures to reflect FFO on the same basis.

FFO is used by industry analysts, investors and the Company as a supplemental measure of a REIT’s operating performance. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, many industry investors and analysts have considered presentation of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. Thus, NAREIT created FFO as a supplemental measure of a REIT’s operating performance that excludes historical cost depreciation, among other items, from GAAP net income. Management believes the use of FFO, combined with the required primary GAAP presentations, has been fundamentally beneficial, improving the understanding of operating results of REITs among the investing public and making comparisons of REIT operating results more meaningful. Company management evaluates operating performance in part based on FFO. Additionally, the Company uses FFO, along with other measures, to assess performance in connection with evaluating and granting incentive compensation to its officers and other key employees.

Segment net income, the balance of the Company’s investment in joint ventures and the amount of capital expenditures are not presented in the following tables. Management does not utilize these measures when analyzing its segments or when making resource allocation decisions, and therefore this information is not provided. FFO is reconciled to net income (loss) on a total Company basis (in thousands):

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Property Transactions (Details 3) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011
Business acquisition cost of acquired entity purchase price allocation
Business acquisition purchase price allocation tangible assets, land	$ 13,439
Business acquisition purchase price allocation tangible assets, building	94,190
Business acquisition purchase price allocation tangible assets tenant improvements and FF&E	8,600
Tangible Assets	116,229
Business acquisition purchase price allocation amortizable intangible assets above market leases	3,991
Business acquisition purchase price allocation amortizable intangible assets in place leases	16,172
Business acquisition, purchase price allocation, amortizable intangible assets	20,163
Business acquisition purchase price allocation amortizable intangible liabilities below market lease	(1,659)
Total net Assets Acquired	$ 134,733

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Description of Business and Basis of Presentation

12 Months Ended

Dec. 31, 2011

Description Of Business And Basis of Presentation [Abstract]

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Description of Business: Cousins Properties Incorporated (“Cousins”), a Georgia corporation, is a self-administered and self-managed real estate investment trust (“REIT”). Cousins Real Estate Corporation (“CREC”) is a taxable entity wholly-owned by and consolidated with Cousins. CREC owns, develops, and manages its own real estate portfolio and performs certain real estate related services for other parties.

Cousins, CREC and their subsidiaries (collectively, the “Company”) develop, manage and own office, retail, and residential real estate projects. As of December 31, 2011, the Company’s portfolio of real estate assets consisted of interests in 7.8 million square feet of office space, 4.8 million square feet of retail space, interests in 22 residential communities and residential and commercial undeveloped land, the Company’s share of which was approximately 5,000 acres. The Company also provides leasing and/or management services for approximately 12.7 million square feet of office and retail space owned by third parties.

Basis of Presentation: The Consolidated Financial Statements include the accounts of Cousins, its consolidated partnerships and wholly-owned subsidiaries, and CREC and its consolidated subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. The Company presents its financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) as outlined in the Financial Accounting Standard Board’s Accounting Standards Codification (the “Codification” or “ASC”). The Codification is the single source of authoritative accounting principles applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP.

The Company evaluates all partnerships, joint ventures and other arrangements with variable interests to determine if the entity or arrangement qualifies as a variable interest entity (“VIE”), as defined in the Codification. If the entity or arrangement qualifies as a VIE and the Company is determined to be the primary beneficiary, the Company is required to consolidate the assets, liabilities and results of operations of the VIE.

The Company has a joint venture with Callaway Gardens Resort, Inc. (“Callaway”) for the development of residential lots, which is anticipated to be funded fully through Company contributions. Callaway has the right to receive returns, but no obligation to fund any costs or absorb any losses. The Company is the sole decision maker for the venture and the development manager. The Company has determined that Callaway is a VIE, and the Company is the primary beneficiary. Therefore, the Company consolidates this joint venture. As of December 31, 2011 and 2010, Callaway had total assets of $4.9 million and $15.7 million, respectively, and no significant liabilities.

For unconsolidated entities that the Company does not control, but exercises significant influence, the Company uses the equity method of accounting. Descriptions of each of the Company’s investments accounted for under the equity method are included in Note 4. Contributions to unconsolidated joint ventures are recorded as Investments in Unconsolidated Joint Ventures. This account is subsequently adjusted for the Company’s share of income or loss from unconsolidated joint ventures, as well as contributions and distributions to and from the entities. Any difference between the carrying amount of these investments on the Company’s Balance Sheet and the underlying equity in net assets on the joint venture’s balance sheet is adjusted as the related underlying assets are depreciated, amortized or sold.

The Company consolidates certain joint ventures that it controls. In cases where the entity’s documents do not contain a required redemption clause, the Company records the partner’s share of the entity in the Equity section of the Balance Sheets in a line item called Nonredeemable Noncontrolling Interests. In cases where the entity’s documents contain a provision requiring the Company to purchase the partner’s share of the venture at a certain value upon demand or at a future date, the Company records the partner’s share of the entity in Redeemable Noncontrolling Interests on the Balance Sheets. Amounts recorded in Redeemable Noncontrolling Interests are adjusted to the higher of fair value or the partner’s cost basis each reporting period. The effect of these adjustments is recorded in Additional Paid-in Capital within Total Stockholders’ Investment. The noncontrolling partner’s share of all consolidated joint ventures income is reflected in Net Income Attributable to Noncontrolling Interest on the Statements of Operations.

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Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified			12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011 Series A Preferred Stock [Member]	Dec. 31, 2010 Series A Preferred Stock [Member]	Dec. 31, 2011 Series B Preferred Stock [Member]	Dec. 31, 2010 Series B Preferred Stock [Member]
Accumulated depreciation on operating properties	$ 289,473	$ 274,925
Allowance for doubtful accounts for notes and other receivables	$ 5,100	$ 6,287
Preferred stock, dividend rate			7.75%	7.75%	7.50%	7.50%
Preferred stock, shares issued			2,993,090	2,993,090	3,791,000	3,791,000
Preferred stock, shares outstanding			2,993,090	2,993,090	3,791,000	3,791,000
Preferred stock, liquidation preference			$ 25	$ 25	$ 25	$ 25
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	107,272,078	106,961,959
Treasury stock, shares	3,570,082	3,570,082

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Consolidated Statements of Cash Flows Supplemental Information

12 Months Ended

Dec. 31, 2011

Consolidated Statements of Cash Flows Supplemental Information [Abstract]

CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION

11. CONSOLIDATED STATEMENTS OF CASH FLOWS – SUPPLEMENTAL INFORMATION

Supplemental information related to cash flows, including significant non-cash activity affecting the Statements of Cash Flows, for the years ended December 31, 2011, 2010 and 2009 is as follows (in thousands):

		September 30,			September 30,			September 30,
	2011			2010			2009
Interest paid, net of amounts capitalized	$	25,960		$	35,616		$	40,219
Income taxes refunded, net of payments		(551	)		(3,308	)		(891	)
Non-Cash Transactions:
Transfer from other assets to investment in joint venture		6,193			—			—
Transfer from land to operating properties		5,159			1,410			—
Decrease in land and notes payable due to foreclosure		3,374			—			—
Adjustments to property expenditures for amounts included in accounts payable		1,559			1,976			5,093
Change in fair value of redeemable noncontrolling interests		766			378			180
Issuance of common stock for payment of common dividends		—			24,282			19,711
Land collateral received from note receivable default		—			5,030			—
Increase in notes receivable for lease termination and land and lot sales		—			3,312			—
Transfer from notes receivable to multi-family residential units		—			—			8,167
Transfer from notes payable to redeemable noncontrolling interests		—			—			8,767
Transfer from other assets to land		—			—			2,440
Increase in notes payable upon consolidation of entities		—			—			11,918
Issuance of note payable for purchase of townhomes		—			—			3,150
Transfer from investment in joint venture to land upon consolidation of entities		—			—			9,116

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Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2011	Feb. 14, 2012	Jun. 30, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	COUSINS PROPERTIES INC
Entity Central Index Key	0000025232
Document Type	10-K
Document Period End Date	Dec. 31, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 763,722,037
Entity Common Stock, Shares Outstanding		104,142,932

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Noncontrolling Interests

12 Months Ended

Dec. 31, 2011

Noncontrolling Interests [Abstract]

NONCONTROLLING INTERESTS

12. NONCONTROLLING INTERESTS

The Company consolidates various ventures that are involved in the ownership and/or development of real estate. The partner’s share of the entity, in cases where the entity’s documents do not contain a required redemption clause, is reflected in a separate line item called Nonredeemable Noncontrolling Interests within Equity in the Balance Sheets. Correspondingly, the partner’s share of income or loss is recorded in Net Income Attributable to Noncontrolling Interests in the Statements of Operations.

Other consolidated ventures contain provisions requiring the Company to purchase the partners’ share of the venture at a certain value upon demand or at a future prescribed date. In these situations, the partner’s share of the entity is recognized as Redeemable Noncontrolling Interests and is presented between liabilities and equity in the Balance Sheets, with the corresponding share of income or loss in the venture recorded in Net Income Attributable to Noncontrolling Interests in the Statements of Operations. The redemption values are evaluated each period and adjusted within Equity to the higher of fair value or the partner’s cost basis. Two of these ventures with redemption options sold their underlying assets, King Mill Distribution Park – Building 3 and Jefferson Mill Business Park — Building A, in 2011 (see Note 8). In conjunction with these sales, the pro rata share of the sales proceeds was distributed to each of the noncontrolling partners.

The following table details the components of Redeemable Noncontrolling Interests in consolidated subsidiaries for the years ended December 31, 2011 and 2010 (in thousands):

		September 30,			September 30,
	2011			2010
Beginning Balance	$	14,289		$	12,591
Net income attributable to redeemable noncontrolling interests		1,433			176
Distributions to redeemable noncontrolling interests		(12,193	)		(337	)
Contributions from redeemable noncontrolling interests		—			2,237
Change in fair value of redeemable noncontrolling interests		(766	)		(378	)
Ending Balance	$	2,763		$	14,289

The following reconciles the net income attributable to nonredeemable noncontrolling interests as recorded in the Statements of Equity and the net income (loss) attributable to redeemable noncontrolling interests as recorded outside of the Equity section on the Balance Sheets to the Net Income Attributable to Noncontrolling Interests on the Statements of Operations for the years ended December 31, 2011, 2010 and 2009 (in thousands):

		September 30,		September 30,		September 30,
	2011		2010		2009
Net income attributable to nonredeemable noncontrolling interests	$	3,525	$	2,364	$	2,426
Net income (loss) attributable to redeemable noncontrolling interests		1,433		176		(174	)
Net income attributable to noncontrolling interests	$	4,958	$	2,540	$	2,252

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Rental Property Revenues (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011
Operating Leases Future Minimum Payments Receivable [Abstract]
2011	$ 105,491
2012	106,025
2013	103,087
2014	95,820
2015	84,934
Thereafter	319,922
Total Rentals	815,279
Office [Member]
Operating Leases Future Minimum Payments Receivable [Abstract]
2011	82,153
2012	81,797
2013	79,737
2014	73,031
2015	65,992
Thereafter	268,816
Total Rentals	651,526
Retail [Member]
Operating Leases Future Minimum Payments Receivable [Abstract]
2011	23,338
2012	24,228
2013	23,350
2014	22,789
2015	18,942
Thereafter	51,106
Total Rentals	$ 163,753

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Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
REVENUES:
Rental property revenues	$ 135,573	$ 130,522	$ 128,244
Fee income	13,821	14,444	11,840
Third party management and leasing revenues	19,359	18,976	21,966
Multi-family residential unit sales	4,664	34,442	30,841
Residential lot and outparcel sales	3,015	15,943	7,421
Other	2,032	1,229	2,972
Total consolidated revenues	178,464	215,556	203,284
COSTS AND EXPENSES:
Rental property operating expenses	55,918	53,750	57,996
Third party management and leasing expenses	16,585	17,393	17,878
Multi-family residential unit cost of sales	2,487	27,017	25,629
Residential lot and outparcel cost of sales	2,891	10,699	5,023
General and administrative expenses	24,166	28,517	26,198
Interest expense	27,784	37,180	39,759
Reimbursed expenses	6,208	6,297	5,378
Depreciation and amortization	50,174	53,313	47,781
Impairment losses	107,763	2,554	40,512
Separation expenses	197	1,045	3,257
Other	4,436	4,416	13,143
Total costs and expenses	298,609	242,181	282,554
LOSS ON EXTINGUISHMENT OF DEBT AND INTEREST RATE SWAPS	(74)	(9,827)	(2,766)
LOSS FROM CONTINUING OPERATIONS BEFORE TAXES, UNCONSOLIDATED JOINT VENTURES AND SALE OF INVESTMENT PROPERTIES	(120,219)	(36,452)	(82,036)
BENEFIT (PROVISION) FOR INCOME TAXES FROM OPERATIONS	186	1,079	(4,341)
INCOME (LOSS) FROM UNCONSOLIDATED JOINT VENTURES:
Equity in net income (loss) from unconsolidated joint ventures	(17,691)	9,493	(17,639)
Impairment loss on investment in unconsolidated joint ventures	(608)		(51,058)
TOTAL INCOME (LOSS) FROM UNCONSOLIDATED JOINT VENTURES	(18,299)	9,493	(68,697)
LOSS FROM CONTINUING OPERATIONS BEFORE GAIN ON SALE OF INVESTMENT PROPERTIES	(138,332)	(25,880)	(155,074)
GAIN ON SALE OF INVESTMENT PROPERTIES	3,494	1,938	168,637
INCOME (LOSS) FROM CONTINUING OPERATIONS	(134,838)	(23,942)	13,563
INCOME FROM DISCONTINUED OPERATIONS:
Income from discontinued operations	2,852	4,683	3,339
Gain on sale of investment properties	8,519	7,226	147
Gain on extinguishment of debt			12,498
Total income from discontinued operations	11,371	11,909	15,984
NET INCOME (LOSS)	(123,467)	(12,033)	29,547
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(4,958)	(2,540)	(2,252)
NET INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST	(128,425)	(14,573)	27,295
DIVIDENDS TO PREFERRED STOCKHOLDERS	(12,907)	(12,907)	(12,907)
NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS	$ (141,332)	$ (27,480)	$ 14,388
PER COMMON SHARE INFORMATION - BASIC AND DILUTED:
Loss from continuing operations attributable to controlling interest	$ (1.47)	$ (0.39)	$ (0.02)
Income from discontinued operations	$ 0.11	$ 0.12	$ 0.24
Net income (loss) available to common stockholders	$ (1.36)	$ (0.27)	$ 0.22
WEIGHTED AVERAGE SHARES-BASIC AND DILUTED	103,651	101,440	65,495

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Equity and Stock Based-Compensation

12 Months Ended

Dec. 31, 2011

Equity [Abstract]

EQUITY AND STOCK-BASED COMPENSATION

6. EQUITY AND STOCK-BASED COMPENSATION

2009 Incentive Stock Plan

The Company maintains the 2009 Incentive Stock Plan (the “2009 Plan”), which allows the Company to issue awards of stock options, stock grants or stock appreciation rights to employees and directors. As of December 31, 2011, 1,017,005 shares were authorized to be awarded pursuant to the 2009 Plan.

Stock Options – At December 31, 2011, the Company had 5,959,662 stock options outstanding to key employees and outside directors pursuant to the 2009 Plan. The Company typically uses authorized, unissued shares to provide shares for option exercises. The stock options have a term of 10 years from the date of grant and a vesting period of four years, except director stock options which vest immediately. Grants on or after December 11, 2006 include a stock appreciation right, which permits an employee to waive his or her right to exercise the stock option and to instead receive the value of the option in stock, net of the exercise price and tax withholding, without requiring the payment for the exercise.

In addition, the employee stock options include a retirement feature where certain employees vest immediately upon retirement. The Company accelerates expense for employees who will become eligible under this feature before the end of the vesting period. An employee who meets the requirements of the retirement feature will have the remaining original term to exercise their stock options after retirement. Employees who do not meet the retirement feature have an exercise period of one year after termination to exercise vested options.

The Company calculates the fair value of each option grant on the grant date using the Black-Scholes option-pricing model which requires the Company to provide certain inputs, as follows:

• The risk-free interest rate utilized is the interest rate on U.S. Treasury Strips or Bonds having the same life as the estimated life of the Company’s option awards.

• Expected life of the options granted is estimated based on historical data reflecting actual hold periods plus an estimated hold period for unexercised options outstanding.

• Expected volatility is based on the historical volatility of the Company’s stock over a period equal to the estimated option life.

• The assumed dividend yield is based on the Company’s expectation of an annual dividend rate for regular dividends over the estimated life of the option.

For 2011, 2010 and 2009, the Company computed the value of all stock options granted using the Black-Scholes option pricing model with the following assumptions and results:

2

		September 30,			September 30,			September 30,
	2011			2010			2009
Assumptions
Risk-free interest rate		2.37	%		2.63	%		1.94	%
Assumed dividend yield		2.95	%		5.50	%		6.00	%
Assumed lives of option awards (in years)		5.30			5.40			6.07
Assumed volatility		0.653			0.642			0.474
Results
Weighted average fair value of options granted	$	3.90		$	2.68		$	2.18

The Company recognizes compensation expense using the straight-line method over the vesting period of the options, with the offset recognized in additional paid-in capital. During 2011, 2010 and 2009, approximately $941,000, $1.6 million and $2.0 million, respectively, was recognized as compensation expense, before capitalization or income tax benefit, if any. In 2010, stock options of the former Chief Financial Officer were modified in connection with his retirement resulting in $110,000 in additional compensation expense. In 2009, stock options of the former Chief Executive Officer were modified in connection with his retirement resulting in an additional $872,000 in compensation expense.

The Company anticipates recognizing $961,000 in future compensation expense related to stock options outstanding at December 31, 2011, which will be recognized over a weighted average period of 2.5 years. During 2011, total cash proceeds from the exercise of options equaled $34,000. As of December 31, 2011, there was no intrinsic value in the options outstanding and exercisable. The intrinsic value is calculated using the exercise prices of the options compared to the market value of the Company’s stock. At December 31, 2011, the weighted-average contractual lives for the options outstanding and exercisable were 3.9 years and 3.4 years, respectively.

The following is a summary of stock option activity for the year ended December 31, 2011:

		September 30,			September 30,
	Number of
	Options			Weighted Average
	(000s)			Exercise Price Per Option
Outstanding, beginning of year		6,460		$	21.30
Granted		213		$	8.43
Exercised		(4	)	$	8.35
Forfeited/Expired		(709	)	$	21.49
Outstanding, end of year		5,960		$	20.83
Options exercisable at end of year		5,396		$	22.17

Stock Grants – The 2009 Plan provides for stock grants, which may be subject to specified performance and vesting requirements, and have historically been in the form of restricted stock. In 2011, the Company made stock grants of 214,206 shares, which vest ratably over three years, and 29,411 shares, which cliff vest three years from the date of grant. Stock grants awarded on February 15, 2010 also cliff vest three years from the date of grant. The remaining stock grants vest ratably over a four-year period. In 2011, the Company also granted 52,416 shares of stock to independent members of the board of directors which vested immediately on the grant date. All stock grants receive dividends and have voting rights during the vesting period. The Company records the restricted stock in Common Stock and Additional Paid-in Capital at fair value on the grant date, with the offsetting deferred compensation also recorded in Additional Paid-in-Capital. The Company records compensation expense over the vesting period. Compensation expense related to restricted stock, before capitalization or income tax benefit, if any, was approximately $1.2 million, $747,000 and $433,000 in 2011, 2010 and 2009, respectively. In conjunction with the retirement of the Company’s former Chief Financial Officer in 2010, all of his unvested shares of restricted stock vested, and the Company recognized approximately $129,000 in additional compensation expense as a result. As part of the retirement of the Company’s former Chief Executive Officer, all of his unvested shares of restricted stock vested, and the Company recognized $298,000 in additional compensation expense in 2009 as a result.

As of December 31, 2011, the Company had recorded $1.9 million of unrecognized compensation cost included in Additional Paid-in Capital related to restricted stock, which will be recognized over a weighted average period of 1.8 years. The total fair value of the restricted stock which vested during 2011 was approximately $43,000. The following table summarizes restricted stock activity during 2011:

		September 30,			September 30,
				Weighted-
	Number of			Average
	Shares			Grant Date
	(000s)			Fair Value
Non-vested restricted stock at beginning of year		220		$	7.60
Granted		244		$	8.43
Vested		(6	)	$	23.42
Forfeited		(19	)	$	7.66
Non-vested restricted stock at end of year		439		$	7.83

2005 Restricted Stock Unit Plan

The Company also maintains the 2005 Restricted Stock Unit Plan (the “RSU Plan”), as amended. An RSU is a right to receive a payment in cash equal to the fair market value, as defined, of one share of the Company’s stock on the vesting date. The Company records compensation expense for RSUs over the vesting period and adjusts the expense and related liability based upon the market value, as defined, of the Company’s common stock at each reporting period. The RSU Plan also has a retirement feature where employees who meet the requirements of the retirement feature vest fully in their RSUs outstanding upon retirement. The Company accelerates the vesting period for employees who will become eligible under this feature before the end of their original vesting period, even if the employee has not retired. The Company has issued performance- and non-performance-based RSUs. Each of these RSU awards is described as follows:

Regular RSUs. The Company’s non-performance-based RSUs (“Regular RSUs”) are granted to directors and key employees. In 2011, the Company awarded 401 RSUs to a new director and 56,845 RSUs to employees, both of which cliff vest three years from the date of grant. In 2010, the Company granted 21,442 in Regular RSUs to directors, 20,368 of which have a three-year cliff vest. All other RSU grants vest ratably over a four-year period. Regular RSU holders receive cash dividend payments for each RSU held during the vesting period equal to the common dividends per share paid by the Company. These dividends are also recorded in compensation expense. The total cash paid for Regular RSU vesting and dividend payments in 2011 was approximately $445,000.

The following table summarizes Regular RSU activity for 2011 (in thousands):

	September 30,
Outstanding at beginning of year	144
Granted	57
Vested	(55	)
Forfeited	(3	)
Outstanding at end of year	143

Special Performance-Based RSUs. In 2006, the Company awarded performance-based RSUs to two executives which vested five years from the date of grant, if certain performance, service and market conditions were met. These performance-based RSUs did not receive dividends and 172,489 of these RSUs were outstanding at December 31, 2010. In 2011, the performance metrics were not met, and the awards were forfeited.

2011 Performance-Based RSUs. During 2011, the Company awarded two types of performance-based RSUs to key employees based on the following performance metrics: (1) Total Stockholder Return of the Company, as defined, as compared to the companies in the SNL US REIT Office index as of January 1, 2011 (“SNL RSUs”), and (2) ratio of cumulative funds from operations per share to targeted cumulative funds from operations per share (“FFO RSUs”). The performance period for both awards is January 1, 2011 to December 31, 2013, and the targeted number of SNL RSUs and FFO RSUs outstanding at December 31, 2011 is 96,149 and 61,810, respectively. The ultimate payout of these awards can range from 0% to 200% of the targeted number of units depending on the achievement of the performance metrics described above. Both of these types of RSUs cliff vest on February 14, 2014 and are dependent upon the attainment of required service and performance criteria. The number of RSUs vesting will be determined at that date, and the payout per unit will be equal to the average closing price on each trading day during the 30-day period ending on December 31, 2013. The Company expenses an estimate of the fair value of the SNL RSUs over the vesting period using a quarterly Monte Carlo valuation. The Company expenses the FFO RSUs over the vesting period using the fair market value of the Company’s stock at the reporting date multiplied by the anticipated number of units to be paid based on the current estimate of what the ratio is expected to be upon vesting. Dividend equivalents on the RSUs will also be paid based upon the percentage vested. The dividend equivalent payments will equal the total cash dividends that would have been paid during the performance period, and assuming dividends had been reinvested in Company stock.

2010 Performance-Based RSUs. In 2010, the Company awarded two types of performance-based RSUs to key employees. The first RSU is based on total stockholder return of the Company, as defined, compared to the companies in the MSCI US REIT index as of January 1, 2010 (the “MSCI RSU”). The second RSU is based on the ratio of total debt, as defined, to the trailing 12-month calculation of earnings before interest, taxes, depreciation and amortization, as defined (the “EBITDA RSU”). The performance period for both RSUs is January 1, 2010 to December 31, 2012, and the target number of MSCI RSUs and EBITDA RSUs outstanding as of December 31, 2011 is 76,324 and 109,898, respectively. The ultimate payout of these awards can range from 0% to 200% of the target number of units depending on the achievement of the performance metrics described above and the attainment of certain service requirements. Both of these types of RSUs cliff vest on February 15, 2013. The number of each type of RSU to be issued will be determined upon vesting, and the payout per unit will be equal to the 30-day average closing price of the Company’s stock ending on December 31, 2012. The Company expenses an estimate of the fair value of the MSCI RSUs over the vesting period using a Monte Carlo valuation. The EBITDA RSUs are expensed over the vesting period using the Company’s stock price at the reporting period multiplied by the anticipated number of units to be paid based on the current estimate of the debt-to-EBITDA ratio upon vesting. Dividend equivalents on both the EBITDA and MSCI RSUs will be paid based upon the percentage vested. The dividend equivalent payments will equal the total dividends that would have been paid during the performance period, assuming the dividends had been reinvested in Company stock.

The following table summarizes the combined performance-based RSU activity for 2011 (in thousands):

	September 30,
Outstanding at beginning of year	367
Granted — 100% of target	164
Forfeited — 100% of target	(15	)
Forfeited — special performance-based RSUs	(172	)
Outstanding at end of year	344

Combined RSU activity. The Company estimates future expense for all types of RSUs outstanding at December 31, 2011 to be approximately $1.4 million (using stock prices and estimated target percentages as of December 31, 2011), which will be recognized over a weighted-average period of 1.9 years.

During 2011, 2010 and 2009, approximately $1.0 million, $1.2 million and $1.1 million, respectively, was recognized as compensation expense related to RSUs for employees and directors, before capitalization or income tax benefit, if any. The retirement agreements with the Company’s former Chief Financial and Chief Executive Officers also allowed for all of their unvested RSUs to become vested upon retirement. Accordingly, the Company recognized an additional $153,000 and $413,000 in compensation expense in 2010 and 2009, respectively, related to these agreements.

Other Long-Term Compensation Information — In 2009, the Company granted an additional long-term incentive compensation award, which will be settled in cash if the Company’s stock price achieves a specified level of growth at the testing dates and the service requirement is met. This award is valued using the Monte Carlo method. The Company reversed approximately $767,000 in expense in 2011, and recognized approximately $805,000 and $500,000 in compensation expense related to this plan in 2010 and 2009, respectively, before capitalization or income tax benefit, if any. The achievement of the award will be tested at specified dates in 2012, 2013 and 2014. If the stock value growth condition has not been met as of the last possible testing date in 2014 or, except as described for a change in control, if the employee terminates employment before this vesting condition is met on a testing date, the award is automatically forfeited.

Other Stockholder Investment Information

Preferred Stock — At December 31, 2011, the Company had 2,993,090 shares outstanding of its 7.75% Series A Cumulative Redeemable Preferred Stock (liquidation preference of $25 per share), and 3,791,000 shares outstanding of its 7.50% Series B Cumulative Redeemable Preferred Stock (liquidation preference of $25 per share). The Series A preferred stock may be redeemed on or after July 24, 2008, and the Series B preferred stock may be redeemed on or after December 17, 2009, both at the Company’s option at $25 per share plus all accrued and unpaid dividends through the date of redemption. None of the Series A or Series B preferred stock has been redeemed as of December 31, 2011, although some has been repurchased as described below. Dividends on both the Series A and Series B preferred stock are payable quarterly in arrears on February 15, May 15, August 15 and November 15.

Stock Repurchase Plan — The Company had a stock repurchase plan that allowed the Company to purchase up to five million shares of its common stock through May 9, 2011. The repurchase plan also allowed for the repurchase of all Series A and B preferred shares outstanding. There were no repurchases in 2011, 2010 or 2009. Historically, the Company has repurchased 3,570,082 common shares for an aggregate price of $86.8 million, and 1,006,910 shares of its Series A preferred stock and 209,000 shares of its Series B preferred stock for an aggregate price of $15.8 million. The repurchase plan expired May 9, 2011, and there is currently no authorized repurchase plan for common or preferred stock.

Director Fees — Outside directors may elect to receive some of their director fees in stock, based on 95% of the average market price on the date of service. Outside directors elected to receive 30,005, 35,040, and 29,007 shares of stock in lieu of cash for director fees in 2011, 2010 and 2009, respectively.

Ownership Limitations — In order to minimize the risk that the Company will not meet one of the requirements for qualification as a REIT, Cousins’ Articles of Incorporation include certain restrictions on the ownership of more than 3.9% of the Company’s total common and preferred stock.

Distribution of REIT Taxable Income — The following reconciles dividends paid and dividends applied in 2011, 2010 and 2009 to meet REIT distribution requirements (in thousands):

		September 30,			September 30,			September 30,
	2011			2010			2009
Common and preferred dividends paid	$	31,556		$	49,365		$	55,328
Dividends treated as taxable compensation		(71	)		(79	)		(28	)
Portion of dividends declared in current year, and paid in current year, which was applied to the prior year distribution requirements		(304	)		(1,606	)		—
Portion of dividends declared in subsequent year, and paid in subsequent year, which apply to current year distribution requirements		1,075			304			1,606
Dividends applied to meet current year REIT distribution requirements	$	32,256		$	47,984		$	56,906

Tax Status of Dividends — The following summarizes the components of the taxability of the Company’s dividends for the years ended December 31, 2011, 2010 and 2009:

		September 30,		September 30,		September 30,		September 30,
			Type
	Total Dividends Per Share		Ordinary Dividends		Long-Term Capital Gain		Unrecaptured Section 1250 Gain (A)
Common:
2011	$	0.180000	$	0.067853	$	0.112147	$	0.042574
2010	$	0.360000	$	0.059447	$	0.300553	$	0.073937
2009	$	0.740000	$	0.549006	$	0.190994	$	—
Series A Preferred:
2011	$	1.937500	$	0.730053	$	1.207447	$	0.458393
2010	$	1.937500	$	0.315868	$	1.621632	$	0.399714
2009	$	1.937500	$	1.290594	$	0.646906	$	—
Series B Preferred:
2011	$	1.875000	$	0.706502	$	1.168498	$	0.443606
2010	$	1.875000	$	0.305678	$	1.569322	$	0.386819
2009	$	1.875000	$	1.248962	$	0.626038	$	—

(A) Represents a portion of the dividend allocated to long-term capital gain.

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Impairment Losses

12 Months Ended

Dec. 31, 2011

Impairment Losses [Abstract]

IMPAIRMENT LOSSES

5. IMPAIRMENT LOSSES

During 2011, management began a strategic review and analysis of its residential and land businesses, as well as certain operating properties, in an attempt to determine the most effective way to maximize the value of its holdings. As a result of this review, the Company revised the cash flow projections for its land and residential holdings and two operating properties, and in the fourth quarter of 2011, recorded impairment charges as discussed below. Additionally, in February 2012, the Company determined that it would liquidate its holdings of certain non-core assets in bulk on a more accelerated timeline and at lower prices than initially planned and re-deploy this capital primarily into office properties within its core markets.

Impairment Losses in Costs and Expenses

During 2011, 2010 and 2009, the Company recorded the following impairment losses in costs and expenses on the accompanying Statements of Operations (in thousands):

		September 30,		September 30,		September 30,
	2011		2010		2009
Residential and land	$	96,523	$	—	$	—
Operating properties		7,632
Investment in Verde Realty		3,508		—		—
60 N. Market/related note receivable		100		586		1,600
Handy Road land		—		1,968		—
10 Terminus Place				—		34,900
Company airplane				—		4,012
	$	107,763	$	2,554	$	40,512

2011 Impairment Losses

In the fourth quarter of 2011, the Company revised the cash flow projections in light of the strategic review and analysis discussed above for its land and residential holdings as well as two operating properties that were being held for long term investment. The cash flow revisions reflected a higher probability that the Company would sell the assets in the short term than holding them for long term investment and development opportunities. As a result of these revisions, the undiscounted cash flows of 12 land and residential projects and two operating properties were less than their carrying amounts, and the Company recorded impairment losses to adjust these carrying amounts to fair value.

In the first quarter of 2011, the Company recorded an other-than-temporary impairment on its investment in Verde Realty (“Verde”), a cost method investment in a non-public real estate investment trust, to adjust the carrying amount of the Company’s investment to fair value, as a result of an analysis performed in connection with Verde’s withdrawal of its proposed public offering.

2010 Impairment Losses

Handy Road was an encumbered, undeveloped parcel of land in suburban Atlanta, Georgia, that the Company was holding for future development or sale. In 2010, the Company determined that it would convey the land to the bank through foreclosure. As a result, the Company recognized an impairment loss to record the land at its fair value. 60 North Market is a multi-family residential project in Asheville, North Carolina that was acquired by the Company in 2009. In 2010, the Company recorded an impairment loss on the project as it determined the fair value of the project had declined further since its acquisition.

2009 Impairment Losses

10 Terminus Place is a multi-family residential project in Atlanta, Georgia. In 2009, market conditions for for-sale multi-family residential projects deteriorated, and the Company recorded an impairment loss to record the project at estimated fair value. The 60 North Market project was acquired by the Company in satisfaction of a note receivable, and the Company recorded an impairment loss upon acquisition. In addition, the Company sold its corporate airplane at an amount lower than its cost basis, which resulted in an impairment loss.

Impairment Loss on Investment in Unconsolidated Joint Ventures

The Company recorded the following impairment losses on its investments in unconsolidated joint ventures in 2011, 2010 and 2009 in the accompanying Statements of Operations (in thousands):

		September 30,		September 30,		September 30,
	2011		2010		2009
Temco	$	608	$	—	$	6,700
CL Realty		—		—		20,300
T200		—		—		17,993
Glenmore		—		—		6,065
	$	608	$	—	$	51,058

In 2011, CL Realty and Temco recorded impairment losses based on a change in intent to sell the majority of the assets held by each venture. In addition, the Company recorded an other than temporary impairment on its investment in Temco by adjusting the Company’s investment in Temco (see table above), due to basis differences. There was no other than temporary impairment on the Company’s investment in CL Realty. In February 2012, CL Realty and Temco entered into a contract with Forestar Realty Inc., the partner in the ventures, to sell certain assets. Under this agreement, the Company effectively agreed to sell its interests in 18 residential development projects and related residential land owned by CL Realty and Temco for $23.5 million (See Note 4). The sales price approximates the adjusted carrying amounts of the assets at the ventures and therefore no significant gain or loss is anticipated.

In 2009, the Company recorded an other-than-temporary impairment loss on its investments in CL Realty and Temco as a result of an extended market decline in the residential lot business. The Company also recorded an other-than-temporary impairment loss on its investment in T200 when it determined that it was probable that it would be required to fund a guarantee of the venture’s construction loan and other commitments to the venture (see below and Note 4 for discussion of venture level impairment losses taken at T200 in 2009). In addition, prior to and upon consolidation of Glenmore Garden Villas (“Glenmore”), a townhome project in Charlotte, North Carolina, originally owned in a joint venture, the Company recorded an impairment loss on its investment in Glenmore to record its assets and related debt at fair value.

Impairment Losses within Unconsolidated Joint Ventures

The Company was also affected by impairment losses recognized within certain of its unconsolidated joint ventures. These impairment losses were recorded on specific assets held by the joint ventures in accordance with accounting standards for long-lived assets, and are discussed above and in Note 4 within the 2011 joint venture impairments also discussed above. A summary of the Company’s share of these impairments for the years ended December 31, 2011, 2010 and 2009 are as follows (in thousands):

		September 30,		September 30,		September 30,
	2011		2010		2009
Temco	$	14,580	$	—	$	631
CL Realty		13,565		2,229		2,619
Terminus 200 LLC		—		—		20,931
Pine Mountain Builders		—		1,517		—
	$	28,145	$	3,746	$	24,181

Fair Value Considerations for Property

The Company is required to assess the fair value of its impaired consolidated real estate assets and the value of its unconsolidated joint venture investments with indicators of impairment. The value of impaired real estate assets and investments is determined using widely accepted valuation techniques, including discounted cash flow analyses on the expected cash flow of each asset, as well as the income capitalization approach, which considers prevailing market capitalization rates, analyses of recent comparable sales transactions, information from actual sales negotiations and bona fide purchase offers received from third parties. In general, the Company considers multiple valuation techniques when measuring fair value. However, in certain circumstances, a single valuation technique may be more appropriate.

The fair value measurements used in these evaluations are considered to be Level 3 valuations within the fair value hierarchy in the accounting rules, as there are significant unobservable inputs. The total of the real estate assets, including investments in joint ventures, reported at fair market value under Level 3 evaluations was $104.5 million. Examples of inputs the Company utilizes in its fair value calculations are discount rates, market capitalization rates, expected lease rental rates, timing of new leases, an estimate of future sales prices and comparable sales prices of similar assets, if available. All of the impairment charges outlined above were recorded in the Statements of Operations, either in costs and expenses or within Income (Loss) from Unconsolidated Joint Ventures.

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Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2011

Real Estate and Accumulated Depreciation Disclosure [Abstract]

REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III

(Page 1 of 4)

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2011

(in thousands)

		0000			0000		0000		0000			0000			0000		0000		0000		0000		0000	0000		0000
				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)		Accumulated Depreciation (a)		Date of Construction/ Renovation		Date Acquired	Life on Which Depreciation in 2011 Statement of Operations is Computed (b)
OPERATING PROPERTIES
Office
191 Peachtree Tower (d)	$	—		$	5,355	$	141,012	$	—		$	79,595		$	5,355	$	220,607	$	225,962	$	44,491		—	2006		40 years
Atlanta, GA
Terminus 100		138,194			15,559		—		(2,512	)		157,054			13,047		157,054		170,101		37,387		2008	2005		30 years
Atlanta, GA
Promenade (d)		—			13,439		102,790		—			584			13,439		103,374		116,813		442		—	2011		34 years
Atlanta, GA
The American Cancer Society Center		135,650			5,226		67,370		—			27,308			5,226		94,678		99,904		51,078		—	1999		25 years
Atlanta, GA
The Points at Waterview		16,135			2,558		22,910		85			6,568			2,643		29,478		32,121		15,737		—	2000		25 years
Suburban Dallas, TX
Meridian Mark Plaza		26,554			2,219		—		—			25,909			2,219		25,909		28,128		13,679		1997	1997		30 years
Atlanta, GA
Lakeshore Park Plaza		—			3,362		12,261		—			5,862			3,362		18,123		21,485		9,718		—	1998		30 years
Birmingham, AL
600 University Park Place		—			1,899		—		—			19,059			1,899		19,059		20,958		7,541		1998	1998		30 years
Birmingham, AL
555 North Point Center East		—			368		—		—			18,651			368		18,651		19,019		10,245		1998	1998		30 years
Suburban Atlanta, GA
221 Peachtree Center Avenue Parking Garage		—			4,217		13,337		—			111			4,217		13,448		17,665		1,640		—	2007		39 years
Atlanta, GA
333 North Point Center East		—			551		—		—			13,815			551		13,815		14,366		7,955		1996	1996		30 years
Suburban Atlanta, GA
Galleria 75		—			6,673		4,743		(2,139	)		841			4,534		5,584		10,118		2,401		—	2004		25 years
Suburban Atlanta, GA
100 North Point Center East		24,478	(c)		1,475		9,625		—			1,943			1,475		11,568		13,043		5,599		—	2003		25 years
Suburban Atlanta, GA
200 North Point Center East		—	(c)		1,726		7,920		—			1,873			1,726		9,793		11,519		4,308		—	2003		25 years
Suburban Atlanta, GA
Inhibitex		—			675		—		—			5,727			675		5,727		6,402		2,227		2004	2004		30 years
Suburban Atlanta, GA
Cosmopolitan Center (d)		—			9,465		2,581		(4,562	)		(1,189	)		4,903		1,392		6,295		1,369		—	2006		24 years
Atlanta, GA
Total Office	$	341,011		$	74,767	$	384,549	$	(9,128	)	$	363,711		$	65,639	$	748,260	$	813,899	$	215,817

		000000		000000		000000		000000			000000			000000		000000			000000		000000		000000	000000		000000
			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)		Accumulated Depreciation (a)		Date of Construction/ Renovation		Date Acquired	Life on Which Depreciation in 2011 Statement of Operations is Computed (b)
OPERATING PROPERTIES (cont’d)
Retail
The Avenue Forsyth	$	—	$	22,848	$	—	$	10,904		$	99,185		$	33,752	$	99,185		$	132,937	$	17,585		2009	2007		30 years
Suburban Atlanta, GA
The Avenue Collierville		—		11,470		—		(1,675	)		84,019			9,795		84,019			93,814		29,415		2004	2004		30 years
Suburban Memphis, TN
The Avenue Webb Gin		—		11,583		—		(2,275	)		67,058			9,308		67,058			76,366		20,503		2005	2005		30 years
Suburban Atlanta, GA
Tiffany Springs MarketCenter		—		8,174		—		5,896			43,039			14,070		43,039			57,109		6,153		2009	2007		30 years
Kansas City, MO
Total Retail	$	—	$	54,075	$	—	$	12,850		$	293,301		$	66,925	$	293,301		$	360,226	$	73,656
Total Operating Properties	$	341,011	$	128,842	$	384,549	$	3,722		$	657,012		$	132,564	$	1,041,561		$	1,174,125	$	289,473
PROJECTS UNDER DEVELOPMENT
Mahan Village
Tallahassee, FL	$	1	$	5,377	$	—	$	—		$	5,948		$	5,377	$	5,948		$	11,325	$	—		2011	2011		—
LAND HELD FOR INVESTMENT OR FUTURE DEVELOPMENT
Terminus	$	—	$	18,745	$	—	$	14,320		$	(23,165	)	$	33,065	$	(23,165	)	$	9,900	$	—		—	2005		—
Atlanta, GA
Round Rock Land		—		12,802		—		4,313			(6,915	)		17,115		(6,915	)		10,200		—		—	2005		—
Austin, TX
615 Peachtree Street		—		10,164		—		2,328			(3,642	)		12,492		(3,642	)		8,850		—		—	1996		—
Atlanta, GA
549 / 555 / 557 Peachtree Street		—		5,988		—		6,152			(9,515	)		12,140		(9,515	)		2,625		—		—	2004		—
Atlanta, GA
North Point		—		10,294		—		29,006			(37,265	)		39,300		(37,265	)		2,035		—		—	1970-1985		—
Suburban Atlanta, GA
Land Adjacent to The Avenue Forsyth		—		11,240		—		10,875			(18,415	)		22,115		(18,415	)		3,700		—		—	2007		—
Suburban Atlanta, GA
Research Park V		—		4,373		—		595			—			4,968		—			4,968		—		—	1998		—
Austin, TX
Jefferson Mill Business Park		—		14,223		—		9,533			(21,236	)		23,756		(21,236	)		2,520		—		—	2006		—
Suburban Atlanta, GA

			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)		Accumulated Depreciation (a)		Date of Construction/ Renovation		Date Acquired	Life on Which Depreciation in 2011 Statement of Operations is Computed (b)
LAND HELD FOR INVESTMENT OR FUTURE DEVELOPMENT (cont’d)
Blalock Lakes	$	—	$	9,646	$	—	$	4		$	(6,305	)	$	9,650	$	(6,305	)	$	3,345	$	—		—	2008		—
Suburban Atlanta, GA
King Mill Distribution Park		—		10,528		—		6,497			(14,965	)		17,025		(14,965	)		2,060		—		—	2005		—
Suburban Atlanta, GA
Land Adjacent to The Avenue Collierville		—		7,208		—		2,052			(7,291	)		9,260		(7,291	)		1,969		—		—	2004		—
Suburban Memphis, TN
Wildwood		—		10,214		—		5,092			(14,292	)		15,306		(14,292	)		1,014		—		—	1971-1989		—
Suburban Atlanta, GA
Land Adjacent to The Avenue Webb Gin		—		946		—		—			—			946		—			946		—		—	2005		—
Suburban Atlanta, GA
Total Land Held for Investment or Future Development	$	—	$	126,371	$	—	$	90,767		$	(163,006	)	$	217,138	$	(163,006	)	$	54,132	$	—
RESIDENTIAL LOTS
Callaway Gardens	$	—	$	1,584	$	—	$	16,420		$	(13,054	)	$	18,004	$	(13,054	)	$	4,950	$	—		2006	2006		—
Pine Mountain, GA
Blalock Lakes		—		17,657		—		26,897			(37,684	)		44,554		(37,684	)		6,870		—		2006	2006		—
Suburban Atlanta, GA
The Lakes at Cedar Grove		—		4,720		—		30,339			(34,559	)		35,059		(34,559	)		500		—		2001	2001		—
Suburban Atlanta, GA
River’s Call		—		2,001		—		11,037			(12,555	)		13,038		(12,555	)		483		—		2000	1971-1989		—
Suburban Atlanta, GA
Longleaf at Callaway		180		2,098		—		6,812			(8,518	)		8,910		(8,518	)		392		—		2002	2002		—
Pine Mountain, GA
Total Residential Lots	$	180	$	28,060	$	—	$	91,505		$	(106,370	)	$	119,565	$	(106,370	)	$	13,195	$	—
OTHER
10 Terminus Place		—		7,810		72,573		(7,561	)		(72,290	)		249		283			532		—		2008	2005		—
Atlanta, GA
60 North Market		—		—		9,739		—			(9,634	)		—		105			105		—		—	2009		—
Asheville, NC
Total Other	$	—	$	7,810	$	82,312	$	(7,561	)	$	(81,924	)	$	249	$	388		$	637	$	—
	$	341,192	$	296,460	$	466,861	$	178,433		$	311,660		$	474,893	$	778,521		$	1,253,414	$	289,473

NOTES:

(a) Reconciliations of total real estate carrying value and accumulated depreciation for the three years ended December 31, 2011 are as follows:

		000000			000000			000000			000000			000000			000000
	Real Estate									Accumulated Depreciation
	2011			2010			2009			2011			2010			2009
Balance at beginning of period	$	1,363,320		$	1,468,413		$	1,458,001		$	274,925		$	233,091		$	186,252
Additions during the period:
Acquisition		116,229			—			—			—			—			—
Improvements and other capitalized costs		50,009			43,798			83,211			—			—			—
Depreciation expense		—			—			—			52,630			58,585			52,926
		166,238			43,798			83,211			52,630			58,585			52,926
Deductions during the period:
Cost of real estate sold or foreclosed		(162,989	)		(143,497	)		(31,908	)		(29,110	)		(13,911	)		(96	)
Impairment losses		(104,183	)		(2,554	)		(34,900	)		—			—			—
Write-off of fully depreciated assets		(8,972	)		(2,840	)		(5,991	)		(8,972	)		(2,840	)		(5,991	)
		(276,144	)		(148,891	)		(72,799	)		(38,082	)		(16,751	)		(6,087	)
Balance at end of period	$	1,253,414		$	1,363,320		$	1,468,413		$	289,473		$	274,925		$	233,091

(b) Buildings and improvements are depreciated over 24 to 40 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.

(c) 100 North Point Center East and 200 North Point Center East were financed together with such properties being collateral for one non-recourse mortgage note payable.

(d) Certain intangible assets related to the purchase of this property are included in other assets and are not in the above table.

XML

Common Stock

12 Months Ended

Dec. 31, 2011

Common Stock [Abstract]

Common Stock

13. COMMON STOCK

In September 2009, the Company completed a common stock offering of 46 million shares. The net proceeds of the offering of approximately $318.4 million were used to repay outstanding borrowings under the Company’s Credit Facility.

XML

Real Estate and Accumulated Depreciation (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011 Y
Real Estate and Accumulated Depreciation
Encumbrances	$ 341,192
Initial cost to company, land and improvements	296,460
Initial cost to company, building and improvements	466,861
Costs capitalized subsequent to acquisition, land and improvements	178,433
Costs capitalized subsequent to acquisition, building and improvements	311,660
Gross amount at which carried at close of period, land and improvements	474,893
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	772,573
Gross amount at which carried at close of period, total	1,253,414
Accumulated depreciation	289,473
Other [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial cost to company, land and improvements	7,810
Initial cost to company, building and improvements	82,312
Costs capitalized subsequent to acquisition, land and improvements	(7,561)
Costs capitalized subsequent to acquisition, building and improvements	(81,924)
Gross amount at which carried at close of period, land and improvements	249
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	388
Gross amount at which carried at close of period, total	637
Accumulated depreciation	0
Residential Lots [Member]
Real Estate and Accumulated Depreciation
Encumbrances	180
Gross amount at which carried at close of period, total	13,195
Accumulated depreciation	0
Residential Lots [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	28,060
Costs capitalized subsequent to acquisition, land and improvements	91,505
Gross amount at which carried at close of period, land and improvements	119,565
Residential Lots [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Residential Lots [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(106,370)
Residential Lots [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(106,370)
Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	341,011
Gross amount at which carried at close of period, total	813,899
Accumulated depreciation	215,817
Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	74,767
Costs capitalized subsequent to acquisition, land and improvements	(9,128)
Gross amount at which carried at close of period, land and improvements	65,639
Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	384,549
Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	363,711
Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	748,260
Operating Properties Retail [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	360,226
Accumulated depreciation	73,656
Operating Properties Retail [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	54,075
Costs capitalized subsequent to acquisition, land and improvements	12,850
Gross amount at which carried at close of period, land and improvements	66,925
Operating Properties Retail [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Operating Properties Retail [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	293,301
Operating Properties Retail [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	293,301
Operating properties [Member]
Real Estate and Accumulated Depreciation
Encumbrances	341,011
Initial cost to company, land and improvements	128,842
Initial cost to company, building and improvements	384,549
Costs capitalized subsequent to acquisition, land and improvements	3,722
Costs capitalized subsequent to acquisition, building and improvements	657,012
Gross amount at which carried at close of period, land and improvements	132,564
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	1,041,561
Gross amount at which carried at close of period, total	1,174,125
Accumulated depreciation	289,473
Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial cost to company, land and improvements	126,371
Initial cost to company, building and improvements	0
Costs capitalized subsequent to acquisition, land and improvements	90,767
Costs capitalized subsequent to acquisition, building and improvements	(163,006)
Gross amount at which carried at close of period, land and improvements	217,138
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(163,006)
Gross amount at which carried at close of period, total	54,132
Accumulated depreciation	0
191 Peachtree Tower (e) Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	225,962
Accumulated depreciation	44,491
Date acquired	2006
Life on which depreciation in 2011 statement of operations is computed (b)	40
191 Peachtree Tower (e) Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	5,355
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	5,355
191 Peachtree Tower (e) Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	141,012
191 Peachtree Tower (e) Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	79,595
191 Peachtree Tower (e) Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	220,607
Terminus 100 Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	138,194
Gross amount at which carried at close of period, total	170,101
Accumulated depreciation	37,387
Date of construction/renovation	2008
Date acquired	2005
Life on which depreciation in 2011 statement of operations is computed (b)	30
Terminus 100 Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	15,559
Costs capitalized subsequent to acquisition, land and improvements	(2,512)
Gross amount at which carried at close of period, land and improvements	13,047
Terminus 100 Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Terminus 100 Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	157,054
Terminus 100 Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	157,054
Promenade (d) Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial cost to company, land and improvements	13,439
Initial cost to company, building and improvements	102,790
Costs capitalized subsequent to acquisition, land and improvements	0
Costs capitalized subsequent to acquisition, building and improvements	584
Gross amount at which carried at close of period, land and improvements	13,439
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	103,374
Gross amount at which carried at close of period, total	116,813
Accumulated depreciation	442
Date acquired	2011
Life on which depreciation in 2011 statement of operations is computed (b)	34
The American Cancer Society Center Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	135,650
Gross amount at which carried at close of period, total	99,904
Accumulated depreciation	51,078
Date acquired	1999
Life on which depreciation in 2011 statement of operations is computed (b)	25
The American Cancer Society Center Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	5,226
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	5,226
The American Cancer Society Center Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	67,370
The American Cancer Society Center Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	27,308
The American Cancer Society Center Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	94,678
The Points at Waterview Suburban Dallas, TX [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	16,135
Gross amount at which carried at close of period, total	32,121
Accumulated depreciation	15,737
Date acquired	2000
Life on which depreciation in 2011 statement of operations is computed (b)	25
The Points at Waterview Suburban Dallas, TX [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	2,558
Costs capitalized subsequent to acquisition, land and improvements	85
Gross amount at which carried at close of period, land and improvements	2,643
The Points at Waterview Suburban Dallas, TX [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	22,910
The Points at Waterview Suburban Dallas, TX [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	6,568
The Points at Waterview Suburban Dallas, TX [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	29,478
Meridian Mark Plaza Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	26,554
Gross amount at which carried at close of period, total	28,128
Accumulated depreciation	13,679
Date of construction/renovation	1997
Date acquired	1997
Life on which depreciation in 2011 statement of operations is computed (b)	30
Meridian Mark Plaza Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	2,219
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	2,219
Meridian Mark Plaza Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Meridian Mark Plaza Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	25,909
Meridian Mark Plaza Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	25,909
Lakeshore Park Plaza Birmingham, AL [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	21,485
Accumulated depreciation	9,718
Date acquired	1998
Life on which depreciation in 2011 statement of operations is computed (b)	30
Lakeshore Park Plaza Birmingham, AL [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	3,362
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	3,362
Lakeshore Park Plaza Birmingham, AL [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	12,261
Lakeshore Park Plaza Birmingham, AL [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	5,862
Lakeshore Park Plaza Birmingham, AL [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	18,123
600 University Park Place Birmingham, AL [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	20,958
Accumulated depreciation	7,541
Date of construction/renovation	1998
Date acquired	1998
Life on which depreciation in 2011 statement of operations is computed (b)	30
600 University Park Place Birmingham, AL [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	1,899
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	1,899
600 University Park Place Birmingham, AL [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
600 University Park Place Birmingham, AL [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	19,059
600 University Park Place Birmingham, AL [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	19,059
555 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	19,019
Accumulated depreciation	10,245
Date of construction/renovation	1998
Date acquired	1998
Life on which depreciation in 2011 statement of operations is computed (b)	30
555 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	368
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	368
555 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
555 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	18,651
555 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	18,651
221 Peachtree Center Avenue Parking Garage Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	17,665
Accumulated depreciation	1,640
Date acquired	2007
Life on which depreciation in 2011 statement of operations is computed (b)	39
221 Peachtree Center Avenue Parking Garage Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	4,217
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	4,217
221 Peachtree Center Avenue Parking Garage Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	13,337
221 Peachtree Center Avenue Parking Garage Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	111
221 Peachtree Center Avenue Parking Garage Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	13,448
333 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	14,366
Accumulated depreciation	7,955
Date of construction/renovation	1996
Date acquired	1996
Life on which depreciation in 2011 statement of operations is computed (b)	30
333 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	551
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	551
333 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
333 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	13,815
333 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	13,815
Galleria 75 Suburban Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	10,118
Accumulated depreciation	2,401
Date acquired	2004
Life on which depreciation in 2011 statement of operations is computed (b)	25
Galleria 75 Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	6,673
Costs capitalized subsequent to acquisition, land and improvements	(2,139)
Gross amount at which carried at close of period, land and improvements	4,534
Galleria 75 Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	4,743
Galleria 75 Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	841
Galleria 75 Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	5,584
100 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	24,478
Gross amount at which carried at close of period, total	13,043
Accumulated depreciation	5,599
Date acquired	2003
Life on which depreciation in 2011 statement of operations is computed (b)	25
100 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	1,475
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	1,475
100 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	9,625
100 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	1,943
100 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	11,568
200 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	11,519
Accumulated depreciation	4,308
Date acquired	2003
Life on which depreciation in 2011 statement of operations is computed (b)	25
200 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	1,726
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	1,726
200 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	7,920
200 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	1,873
200 North Point Center East Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	9,793
Inhibitex Suburban Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	6,402
Accumulated depreciation	2,227
Date of construction/renovation	2004
Date acquired	2004
Life on which depreciation in 2011 statement of operations is computed (b)	30
Inhibitex Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	675
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	675
Inhibitex Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Inhibitex Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	5,727
Inhibitex Suburban Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	5,727
Cosmopolitan Center (e) Atlanta, GA [Member] | Operating Properties Office [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	6,295
Accumulated depreciation	1,369
Date acquired	2006
Life on which depreciation in 2011 statement of operations is computed (b)	24
Cosmopolitan Center (e) Atlanta, GA [Member] | Operating Properties Office [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	9,465
Costs capitalized subsequent to acquisition, land and improvements	(4,562)
Gross amount at which carried at close of period, land and improvements	4,903
Cosmopolitan Center (e) Atlanta, GA [Member] | Operating Properties Office [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	2,581
Cosmopolitan Center (e) Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(1,189)
Cosmopolitan Center (e) Atlanta, GA [Member] | Operating Properties Office [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	1,392
The Avenue Forsyth Suburban Atlanta, GA [Member] | Operating Properties Retail [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	132,937
Accumulated depreciation	17,585
Date of construction/renovation	2009
Date acquired	2007
Life on which depreciation in 2011 statement of operations is computed (b)	30
The Avenue Forsyth Suburban Atlanta, GA [Member] | Operating Properties Retail [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	22,848
Costs capitalized subsequent to acquisition, land and improvements	10,904
Gross amount at which carried at close of period, land and improvements	33,752
The Avenue Forsyth Suburban Atlanta, GA [Member] | Operating Properties Retail [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
The Avenue Forsyth Suburban Atlanta, GA [Member] | Operating Properties Retail [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	99,185
The Avenue Forsyth Suburban Atlanta, GA [Member] | Operating Properties Retail [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	99,185
Land Adjacent to The Avenue Collierville [Member] | Operating Properties Retail [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	93,814
Accumulated depreciation	29,415
Date of construction/renovation	2004
Date acquired	2004
Life on which depreciation in 2011 statement of operations is computed (b)	30
Land Adjacent to The Avenue Collierville [Member] | Operating Properties Retail [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	11,470
Costs capitalized subsequent to acquisition, land and improvements	(1,675)
Gross amount at which carried at close of period, land and improvements	9,795
Land Adjacent to The Avenue Collierville [Member] | Operating Properties Retail [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Land Adjacent to The Avenue Collierville [Member] | Operating Properties Retail [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	84,019
Land Adjacent to The Avenue Collierville [Member] | Operating Properties Retail [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	84,019
The Avenue Webb Gin Suburban Atlanta, GA [Member] | Operating Properties Retail [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	76,366
Accumulated depreciation	20,503
Date of construction/renovation	2005
Date acquired	2005
Life on which depreciation in 2011 statement of operations is computed (b)	30
The Avenue Webb Gin Suburban Atlanta, GA [Member] | Operating Properties Retail [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	11,583
Costs capitalized subsequent to acquisition, land and improvements	(2,275)
Gross amount at which carried at close of period, land and improvements	9,308
The Avenue Webb Gin Suburban Atlanta, GA [Member] | Operating Properties Retail [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
The Avenue Webb Gin Suburban Atlanta, GA [Member] | Operating Properties Retail [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	67,058
The Avenue Webb Gin Suburban Atlanta, GA [Member] | Operating Properties Retail [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	67,058
Tiffany Springs Market Center Kansas City, MO [Member] | Operating Properties Retail [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	57,109
Accumulated depreciation	6,153
Date of construction/renovation	2009
Date acquired	2007
Life on which depreciation in 2011 statement of operations is computed (b)	30
Tiffany Springs Market Center Kansas City, MO [Member] | Operating Properties Retail [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	8,174
Costs capitalized subsequent to acquisition, land and improvements	5,896
Gross amount at which carried at close of period, land and improvements	14,070
Tiffany Springs Market Center Kansas City, MO [Member] | Operating Properties Retail [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Tiffany Springs Market Center Kansas City, MO [Member] | Operating Properties Retail [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	43,039
Tiffany Springs Market Center Kansas City, MO [Member] | Operating Properties Retail [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	43,039
Mahan Village Tallahassee FL [Member]
Real Estate and Accumulated Depreciation
Encumbrances	1
Initial cost to company, land and improvements	5,377
Initial cost to company, building and improvements	0
Costs capitalized subsequent to acquisition, land and improvements	0
Costs capitalized subsequent to acquisition, building and improvements	5,948
Gross amount at which carried at close of period, land and improvements	5,377
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	5,948
Gross amount at which carried at close of period, total	11,325
Accumulated depreciation	0
Date of construction/renovation	2011
Date acquired	2011
Life on which depreciation in 2011 statement of operations is computed (b)	0
Terminus Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	9,900
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	2005
Life on which depreciation in 2011 statement of operations is computed (b)	0
Terminus Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	18,745
Costs capitalized subsequent to acquisition, land and improvements	14,320
Gross amount at which carried at close of period, land and improvements	33,065
Terminus Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Terminus Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(23,165)
Terminus Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(23,165)
Round Rock Land Austin, TX [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	10,200
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	2005
Life on which depreciation in 2011 statement of operations is computed (b)	0
Round Rock Land Austin, TX [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	12,802
Costs capitalized subsequent to acquisition, land and improvements	4,313
Gross amount at which carried at close of period, land and improvements	17,115
Round Rock Land Austin, TX [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Round Rock Land Austin, TX [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(6,915)
Round Rock Land Austin, TX [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(6,915)
615 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	8,850
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	1996
Life on which depreciation in 2011 statement of operations is computed (b)	0
615 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	10,164
Costs capitalized subsequent to acquisition, land and improvements	2,328
Gross amount at which carried at close of period, land and improvements	12,492
615 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
615 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(3,642)
615 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(3,642)
River's Call Suburban Atlanta, GA [Member] | Residential Lots [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	483
Accumulated depreciation	0
Date of construction/renovation	2000
Date acquired	1971-1989
Life on which depreciation in 2011 statement of operations is computed (b)	0
River's Call Suburban Atlanta, GA [Member] | Residential Lots [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	2,001
Costs capitalized subsequent to acquisition, land and improvements	11,037
Gross amount at which carried at close of period, land and improvements	13,038
River's Call Suburban Atlanta, GA [Member] | Residential Lots [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
River's Call Suburban Atlanta, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(12,555)
River's Call Suburban Atlanta, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(12,555)
60 North Market Asheville, NC [Member] | Other [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial cost to company, land and improvements	0
Initial cost to company, building and improvements	9,739
Costs capitalized subsequent to acquisition, land and improvements	0
Costs capitalized subsequent to acquisition, building and improvements	(9,634)
Gross amount at which carried at close of period, land and improvements	0
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	105
Gross amount at which carried at close of period, total	105
Accumulated depreciation	0
Date acquired	2009
Life on which depreciation in 2011 statement of operations is computed (b)	0
North Point Suburban Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	2,035
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	1970-1985
Life on which depreciation in 2011 statement of operations is computed (b)	0
North Point Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	10,294
Costs capitalized subsequent to acquisition, land and improvements	29,006
Gross amount at which carried at close of period, land and improvements	39,300
North Point Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
North Point Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(37,265)
North Point Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(37,265)
Land Adjacent to The Avenue Webb Gin Suburban Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	946
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	2005
Life on which depreciation in 2011 statement of operations is computed (b)	0
Land Adjacent to The Avenue Webb Gin Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	946
Costs capitalized subsequent to acquisition, land and improvements	0
Gross amount at which carried at close of period, land and improvements	946
Land Adjacent to The Avenue Webb Gin Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Land Adjacent to The Avenue Webb Gin Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	0
Land Adjacent to The Avenue Webb Gin Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	0
Jefferson Mill Business Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	2,520
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	2006
Life on which depreciation in 2011 statement of operations is computed (b)	0
Jefferson Mill Business Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	14,223
Costs capitalized subsequent to acquisition, land and improvements	9,533
Gross amount at which carried at close of period, land and improvements	23,756
Jefferson Mill Business Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Jefferson Mill Business Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(21,236)
Jefferson Mill Business Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(21,236)
Blalock Lakes Suburban Atlanta, GA [Member] | Residential Lots [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	6,870
Accumulated depreciation	0
Date of construction/renovation	2006
Date acquired	2006
Life on which depreciation in 2011 statement of operations is computed (b)	0
Blalock Lakes Suburban Atlanta, GA [Member] | Residential Lots [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	17,657
Costs capitalized subsequent to acquisition, land and improvements	26,897
Gross amount at which carried at close of period, land and improvements	44,554
Blalock Lakes Suburban Atlanta, GA [Member] | Residential Lots [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Blalock Lakes Suburban Atlanta, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(37,684)
Blalock Lakes Suburban Atlanta, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(37,684)
Blalock Lakes Suburban Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	3,345
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	2008
Life on which depreciation in 2011 statement of operations is computed (b)	0
Blalock Lakes Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	9,646
Costs capitalized subsequent to acquisition, land and improvements	4
Gross amount at which carried at close of period, land and improvements	9,650
Blalock Lakes Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Blalock Lakes Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(6,305)
Blalock Lakes Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(6,305)
Research Park V Austin, TX [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	4,968
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	1998
Life on which depreciation in 2011 statement of operations is computed (b)	0
Research Park V Austin, TX [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	4,373
Costs capitalized subsequent to acquisition, land and improvements	595
Gross amount at which carried at close of period, land and improvements	4,968
Research Park V Austin, TX [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Research Park V Austin, TX [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	0
Research Park V Austin, TX [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	0
Callaway Gardens Pine Mountain, GA [Member] | Residential Lots [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	4,950
Accumulated depreciation	0
Date of construction/renovation	2006
Date acquired	2006
Life on which depreciation in 2011 statement of operations is computed (b)	0
Callaway Gardens Pine Mountain, GA [Member] | Residential Lots [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	1,584
Costs capitalized subsequent to acquisition, land and improvements	16,420
Gross amount at which carried at close of period, land and improvements	18,004
Callaway Gardens Pine Mountain, GA [Member] | Residential Lots [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Callaway Gardens Pine Mountain, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(13,054)
Callaway Gardens Pine Mountain, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(13,054)
Wildwood Suburban Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	1,014
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	1971-1989
Life on which depreciation in 2011 statement of operations is computed (b)	0
Wildwood Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	10,214
Costs capitalized subsequent to acquisition, land and improvements	5,092
Gross amount at which carried at close of period, land and improvements	15,306
Wildwood Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Wildwood Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(14,292)
Wildwood Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(14,292)
549 / 555 / 557 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	2,625
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	2004
Life on which depreciation in 2011 statement of operations is computed (b)	0
549 / 555 / 557 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	5,988
Costs capitalized subsequent to acquisition, land and improvements	6,152
Gross amount at which carried at close of period, land and improvements	12,140
549 / 555 / 557 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
549 / 555 / 557 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(9,515)
549 / 555 / 557 Peachtree Street Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(9,515)
10 Terminus Place Atlanta, GA [Member] | Other [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial cost to company, land and improvements	7,810
Initial cost to company, building and improvements	72,573
Costs capitalized subsequent to acquisition, land and improvements	(7,561)
Costs capitalized subsequent to acquisition, building and improvements	(72,290)
Gross amount at which carried at close of period, land and improvements	249
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	283
Gross amount at which carried at close of period, total	532
Accumulated depreciation	0
Date of construction/renovation	2008
Date acquired	2005
Life on which depreciation in 2011 statement of operations is computed (b)	0
Land Adjacent to The Avenue Carriage Crossing Suburban Memphis, TN [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	1,969
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	2004
Life on which depreciation in 2011 statement of operations is computed (b)	0
Land Adjacent to The Avenue Carriage Crossing Suburban Memphis, TN [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	7,208
Costs capitalized subsequent to acquisition, land and improvements	2,052
Gross amount at which carried at close of period, land and improvements	9,260
Land Adjacent to The Avenue Carriage Crossing Suburban Memphis, TN [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Land Adjacent to The Avenue Carriage Crossing Suburban Memphis, TN [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(7,291)
Land Adjacent to The Avenue Carriage Crossing Suburban Memphis, TN [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(7,291)
Longleaf at Callaway Pine Mountain, GA [Member] | Residential Lots [Member]
Real Estate and Accumulated Depreciation
Encumbrances	180
Gross amount at which carried at close of period, total	392
Accumulated depreciation	0
Date of construction/renovation	2002
Date acquired	2002
Life on which depreciation in 2011 statement of operations is computed (b)	0
Longleaf at Callaway Pine Mountain, GA [Member] | Residential Lots [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	2,098
Costs capitalized subsequent to acquisition, land and improvements	6,812
Gross amount at which carried at close of period, land and improvements	8,910
Longleaf at Callaway Pine Mountain, GA [Member] | Residential Lots [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Longleaf at Callaway Pine Mountain, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(8,518)
Longleaf at Callaway Pine Mountain, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(8,518)
The Lakes at Cedar Grove Suburban Atlanta, GA [Member] | Residential Lots [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	500
Accumulated depreciation	0
Date of construction/renovation	2001
Date acquired	2001
Life on which depreciation in 2011 statement of operations is computed (b)	0
The Lakes at Cedar Grove Suburban Atlanta, GA [Member] | Residential Lots [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	4,720
Costs capitalized subsequent to acquisition, land and improvements	30,339
Gross amount at which carried at close of period, land and improvements	35,059
The Lakes at Cedar Grove Suburban Atlanta, GA [Member] | Residential Lots [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
The Lakes at Cedar Grove Suburban Atlanta, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(34,559)
The Lakes at Cedar Grove Suburban Atlanta, GA [Member] | Residential Lots [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(34,559)
King Mill Distribution Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	2,060
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	2005
Life on which depreciation in 2011 statement of operations is computed (b)	0
King Mill Distribution Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	10,528
Costs capitalized subsequent to acquisition, land and improvements	6,497
Gross amount at which carried at close of period, land and improvements	17,025
King Mill Distribution Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
King Mill Distribution Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(14,965)
King Mill Distribution Park Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	(14,965)
Land Adjacent to The Avenue Forsyth Suburban Atlanta, GA [Member] | Land Held for Investment [Member]
Real Estate and Accumulated Depreciation
Encumbrances	0
Gross amount at which carried at close of period, total	3,700
Accumulated depreciation	0
Date of construction/renovation	0
Date acquired	2007
Life on which depreciation in 2011 statement of operations is computed (b)	0
Land Adjacent to The Avenue Forsyth Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Land and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, land and improvements	11,240
Costs capitalized subsequent to acquisition, land and improvements	10,875
Gross amount at which carried at close of period, land and improvements	22,115
Land Adjacent to The Avenue Forsyth Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Buildings and Improvements [Member]
Real Estate and Accumulated Depreciation
Initial cost to company, building and improvements	0
Land Adjacent to The Avenue Forsyth Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales and Land and other [Member]
Real Estate and Accumulated Depreciation
Costs capitalized subsequent to acquisition, building and improvements	(18,415)
Land Adjacent to The Avenue Forsyth Suburban Atlanta, GA [Member] | Land Held for Investment [Member] | Building and Improvements less Cost of Sales, Transfers and Other [Member]
Real Estate and Accumulated Depreciation
Gross amount at which carried at close of period, building and Improvements less cost of sales, transfers and other	$ (18,415)

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Notes and Other Receivables

12 Months Ended

Dec. 31, 2011

Notes and Other Receivables [Abstract]

NOTES AND OTHER RECEIVABLES

9. NOTES AND OTHER RECEIVABLES

At December 31, 2011 and 2010, Notes and Other Receivables included the following (in thousands):

		September 30,			September 30,
	2011			2010
Notes receivable, net of allowance for doubtful accounts of $3,109 and $3,671 in 2011 and 2010, respectively	$	3,286		$	3,797
Cumulative rental revenue recognized on a straight-line basis in excess of revenue accrued in accordance with lease terms (see Note 2)		37,141			34,231
Tenant and other receivables		10,064			12,983
Allowance for doubtful accounts related to straight-line rents, tenant and other receivables		(1,991	)		(2,616	)
	$	48,500		$	48,395

Fair Value

At December 31, 2011 and 2010, the fair value of the Company’s notes receivable approximated the cost basis. Fair value was calculated by discounting future cash flows from the notes receivable at estimated rates in which similar loans would have been made at December 31, 2011 and 2010. This fair value calculation is considered to be a Level 3 calculation under the accounting guidelines, as the Company utilizes internally generated assumptions regarding current interest rates at which similar instruments would be executed.

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Equity and Stock Based-Compensation (Details Textual 1) (USD $)	12 Months Ended
	Dec. 31, 2011 Y	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2006 Employee
Equity (Textual) [Abstract]
Stock options outstanding	5,960,000	6,460,000
Compensation expense, options	$ 2,359,000	$ 4,395,000	$ 5,705,000
Share-based Compensation Arrangement by Share-based Payment Award additional (Textual) [Abstract]
Shares authorized under stock option plan	1,017,005
Stock option exercised	4,000
Weighted average contractual life of outstanding options	3.9
Weighted average contractual life of exercisable options	3.4
Percentage of average market price used to determine number of shares directors receive in lieu of cash fees	95.00%
Shares of stock in lieu of cash for director fees	30,005	35,040	29,007
Percentage of restrictions on the ownership of the Company's total common and preferred stock	3.90%
Number of share under the RSU Plan that gives the right to receive payment in cash equal to the fair market value	1
Number of trailing months used as basis of second RSU	12 years
Other Stock Option [Member]
Equity (Textual) [Abstract]
Number of restricted stock units granted	214,206
Three years from grant date [Member]
Equity (Textual) [Abstract]
Number of restricted stock units granted	29,411
Immediately on the grant date [Member]
Equity (Textual) [Abstract]
Number of restricted stock units granted	52,416
Stock Options [Member]
Equity (Textual) [Abstract]
Stock options outstanding	5,959,662
Term life of stock options	10 years
Vesting period of restricted stock units	4 years
Compensation expense, options	941,000	1,600,000	2,000,000
Additional compensation expense in connection with retirement of executives		110,000	872,000
Unrecognized compensation cost	961,000
Recognition period of future compensation expense over weighted average	2.5
Exercise period of option after employee termination	1 year
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options	34,000
Share-based compensation arrangement outstanding	0
Share-based compensation arrangement exercisable	0
Restricted Stock [Member]
Equity (Textual) [Abstract]
Vesting period of restricted stock units	3 years
Compensation expense, restricted stock	1,200,000	747,000	433,000
Additional compensation expense in connection with retirement of executives		129,000	298,000
Unrecognized compensation cost	1,900,000
Unrecognized compensation cost, period for recognition	1.8
Total fair value of the restricted stock which vested	43,000
Number of restricted stock units granted	244,000
Restricted Stock [Member] | Other Stock Option [Member]
Equity (Textual) [Abstract]
Vesting period of restricted stock units	4 years
Restricted Stock Units (RSUs) [Member]
Equity (Textual) [Abstract]
Vesting period of restricted stock units	4 years
Vesting period of restricted stock units	3 years
Number of restricted stock units granted	57,000
Restricted Stock Units (RSUs) [Member] | Three years from grant date [Member]
Equity (Textual) [Abstract]
Number of restricted stock units granted		20,368
Restricted Stock Units (RSUs) [Member] | Four years from grant date [Member]
Equity (Textual) [Abstract]
Number of restricted stock units granted	401	21,442
Non-performance-based Restricted Stock Units (RSUs) [Member] | Three years from grant date [Member]
Equity (Textual) [Abstract]
Number of restricted stock units granted	56,845
Performance-based RSU [Member]
Equity (Textual) [Abstract]
Performance based RSUs outstanding		172,489
Vesting period of restricted stock units	February 15, 2013			5 years
Recognized compensation expense related to RSUs for employees and directors, before capitalization or income tax benefit, if any	1,000,000	1,200,000	1,100,000
Additional compensation expense in connection with retirement of executives		153,000	413,000
Unrecognized compensation cost, period for recognition	1.9
Number of restricted stock units granted	164,000
Total cash paid for regular RSU vesting and dividend payments	445,000
Number of company type awards to key employees				2
Performance period	January 1, 2011 to December 31, 2013
Payout range minimum	0.00%
Payout range maximum	200.00%
Payout per unit average 30 days closing price	30 days
Estimate of future expense for all types of RSUs outstanding	1,400,000
MSCI RSUs [Member]
Equity (Textual) [Abstract]
Performance based RSUs outstanding		76,324
EBITDA RSUs [Member]
Equity (Textual) [Abstract]
Performance based RSUs outstanding		109,898
SNL RSUs [Member]
Equity (Textual) [Abstract]
Performance based RSUs outstanding	96,149
FFO RSUs [Member]
Equity (Textual) [Abstract]
Performance based RSUs outstanding	61,810
Long-term incentive compensation [Member]
Equity (Textual) [Abstract]
Compensation expense, options	$ (767,000)	$ 805,000	$ 500,000
7.75% Series A Cumulative Redeemable Preferred Stock [Member]
Equity (Textual) [Abstract]
Preferred stock, shares outstanding	2,993,090
Liquidation preference per share	$ 25
Preferred stock, dividend rate	7.75%
7.50% Series B Cumulative Redeemable Preferred Stock [Member]
Equity (Textual) [Abstract]
Preferred stock, shares outstanding	3,791,000
Liquidation preference per share	$ 25
Preferred stock, dividend rate	7.50%

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Income Taxes

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

INCOME TAXES

7. INCOME TAXES

CREC is a taxable entity and its consolidated provision (benefit) for income taxes from operations for the years ended December 31, 2011, 2010 and 2009 is as follows (in thousands):

		September 30,		September 30,		September 30,
	2011		2010		2009
Current tax benefit (provision):
Federal	$	—	$	720	$	4,605
State		186		359		(49	)
		186		1,079		4,556
Deferred tax benefit (provision):
Federal		—		—		(7,984	)
State		—		—		(913	)
		—		—		(8,897	)
Benefit (provision) for income taxes from operations	$	186	$	1,079	$	(4,341	)

The net income tax benefit (provision) differs from the amount computed by applying the statutory federal income tax rate to CREC’s income before taxes for the years ended December 31, 2011, 2010 and 2009 as follows ($ in thousands):

		September 30,			September 30,			September 30,			September 30,			September 30,			September 30,
	2011						2010						2009
	Amount			Rate			Amount			Rate			Amount			Rate
Federal income tax benefit	$	35,112			35	%	$	1,832			35	%	$	39,175			35	%
State income tax benefit, net of federal income tax effect		121			0	%		141			3	%		3,625			4	%
Valuation allowance		(34,191	)		(34	)%		(894	)		(17	)%		(47,141	)		(43	)%
Other		(856	)		(1	)%		—			—			—			—
Benefit (provision) applicable to income (loss) from continuing operations	$	186			0	%	$	1,079			21	%	$	(4,341	)		(4	)%

The tax effect of significant temporary differences representing CREC’s deferred tax assets and liabilities as of December 31, 2011 and 2010 are as follows (in thousands):

		September 30,			September 30,
	2011			2010
Income from unconsolidated joint ventures	$	26,009		$	5,519
Residential lots, land and outparcels		20,248			—
Long-term incentive equity awards		1,608			1,281
For-sale multi-family units basis differential		269			2,519
Interest carryforward		13,158			13,158
Federal and state tax carryforwards		23,883			25,464
Other		860			(5	)
Total deferred tax assets		86,035			47,936
Valuation allowance		(86,035	)		(47,936	)
Net deferred tax asset	$	—		$	—

A valuation allowance is required to be recorded against deferred tax assets if, based on the available evidence, it is more likely than not that such assets will not be realized. When assessing the need for a valuation allowance, appropriate consideration should be given to all positive and negative evidence related to this realization. This evidence includes, among other things, the existence of current and recent cumulative losses, forecasts of future profitability, the length of statutory carryforward periods, the Company’s history with loss carryforwards and available tax planning strategies.

In 2011 and 2010, the deferred tax asset of the Company’s taxable REIT subsidiary, CREC, equaled $86.0 million and $47.9 million, respectively, with a valuation allowance placed against the full amount. The conclusion that a valuation allowance should be recorded was based on losses at CREC in current and recent years, and the inability of the Company to predict, with any degree of certainty, when CREC would generate income in the future in amounts sufficient to utilize the deferred tax asset. This uncertainty is the result of the continued decline in the housing market which directly impacts CREC’s residential land and lot business.

As of December 31, 2011, the Company’s federal and state combined net operating loss (“NOL”) carryforwards are $120.5 million. In 2011, $1.3 million of federal and state NOLs were utilized. The remainder of the net operating loss carryforwards will expire between 2022 and 2030, if unused. In addition, the Company has Alternative Minimum Tax (“AMT”) credit carryforwards of $72,000 which do not expire. On an after-tax basis, the Company’s federal and state NOL carryforwards and AMT credit carryforwards result in a deferred tax asset of $23.9 million.

The Company has interest carryforwards related to interest deductions of approximately $33.7 million as of both December 31, 2011 and 2010. The Company recorded deferred tax assets of $13.2 million as of both December 31, 2011 and 2010, reflecting the benefit of the interest carryforwards. Although such deferred tax assets do not expire, realization is dependent upon generating sufficient taxable income in the future.

As of December 31, 2010, the Company had income tax receivables of $500,000, which were refunded during 2011, related to the carryback of the 2009 loss in 2009 to open tax years in which the Company previously paid income taxes.

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Property Transactions

12 Months Ended

Dec. 31, 2011

Property Transactions [Abstract]

PROPERTY TRANSACTIONS

8. PROPERTY TRANSACTIONS

Discontinued Operations

Accounting rules require that the historical operating results of held-for-sale or sold assets which meet certain accounting rules be included in a separate section, Discontinued Operations, in the Statements of Operations for all periods presented. If the asset is sold, the related gain or loss on sale is also included in Discontinued Operations. The following properties which were sold in 2011 met the criteria for discontinued operations presentation ($ in thousands):

	September 30,	September 30,		September 30,		September 30,
Property	Property Type	Location	Square Feet		Sales Price
2011:
King Mill Distribution Park — Building 3	Industrial	Atlanta, GA		796,000	$	28,300
Lakeside Ranch Business Park — Building 20	Industrial	Dallas, TX		749,000		28,400
One Georgia Center	Office	Atlanta, GA		376,000		48,600
Jefferson Mill Business Park — Building A	Industrial	Atlanta, GA		459,000		22,000
2010:
8995 Westside Parkway	Office	Atlanta, GA		51,000		3,200
San Jose MarketCenter	Retail	San Jose, CA		213,000		85,000

The following table details the components of Income (Loss) from Discontinued Operations for the years ended December 31, 2011, 2010 and 2009 (in thousands):

		September 30,			September 30,			September 30,
	2011			2010			2009
Rental property revenues	$	11,115		$	17,806		$	21,543
Other income		98			35			53
Rental property operating expenses		(4,474	)		(6,515	)		(8,571	)
Depreciation expense		(3,887	)		(6,643	)		(8,052	)
Interest expense		—			—			(1,634	)
Income from discontinued operations	$	2,852		$	4,683		$	3,339

Gains (loss) related to the sales of investment properties included in Discontinued Operations are as follows for the years ended December 31, 2011, 2010 and 2009 (in thousands):

		September 30,			September 30,		September 30,
	2011			2010		2009
King Mill Distribution Park — Building 3	$	4,977		$	—	$	—
One Georgia Center		2,805			—		—
Lakeside Ranch Business Park — Building 20		1,121			—		—
Jefferson Mill Business Park — Building A		(394	)		—		—
San Jose MarketCenter		10			6,572		—
8995 Westside Parkway		—			654		—
Other		—			—		147
Gain on sale of investment properties — discontinued operations	$	8,519		$	7,226	$	147
Gain on extinguishment of debt — San Jose MarketCenter	$	—		$	—	$	12,498

Purchases of Investment Property

In November 2011, the Company purchased Promenade, a 775,000 square foot office building in the midtown submarket of Atlanta, Georgia, for a cash purchase price of $134.7 million. The purchase price was funded through proceeds from asset sales and borrowings under the Company’s Credit Facility. The Company allocated the purchase price based on the fair value of assets and liabilities acquired, in accordance with applicable accounting rules. The Company incurred approximately $292,000 in acquisition costs related to the purchase, which are recorded in Other Expense on the Statement of Operations.

The following table summarizes the fair value of the assets and liabilities acquired (in thousands):

		September 30,
Land	$	13,439
Building		94,190
Tenant Improvements and FF&E		8,600
Tangible assets		116,229
Intangible Assets:
Above-market leases		3,991
In-place leases		16,172
Total intangible assets		20,163
Intangible Liabilities:
Below-market leases		(1,659	)
Total net assets acquired	$	134,733

See Note 10 for a schedule of the timing of amortization of the intangible assets and liabilities and the weighted average amortization periods.

Recognition of Deferred Gain

In 2006, the Company and Prudential entered into an agreement whereby the Company contributed interests in five operating properties it owned to a venture, CPV IV, and Prudential contributed an equal amount of cash. The venture was structured such that the operating properties were owned by CP Venture Five LLC (“CPV Five”), and the cash was held by CP Venture Six LLC (“CPV Six”), both of which are wholly-owned by CPV IV. The Company accounts for its interest in CPV Five under the equity method (see Note 4), and the Company consolidates CPV Six. The Company determined that the transaction qualified for accounting purposes as a sale of the properties to the venture. However, because the legal consideration the Company received from this transaction was a controlling interest in CPV Six as opposed to cash, the Company determined that the gain on the transaction should be deferred. In 2009, CPV Six distributed cash to its partners which exceeded the 10% threshold for gain recognition, and the Company recognized $167.2 million of previously deferred gain as gain on sale of investment properties.

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Other Assets

12 Months Ended

Dec. 31, 2011

Other Assets [Abstract]

OTHER ASSETS

10. OTHER ASSETS

At December 31, 2011 and 2010, Other Assets included the following (in thousands):

		September 30,		September 30,
	2011		2010
Investment in Verde Realty	$	5,868	$	9,376
FF&E and leasehold improvements, net of accumulated depreciation of $17,814 and $16,117 in 2011 and 2010, respectively		4,736		4,673
Predevelopment costs and earnest money		581		7,039
Lease inducements, net of accumulated amortization of $3,696 and $2,991 in 2011 and 2010, respectively		12,219		11,899
Loan closing costs, net of accumulated amortization of $4,026 and $3,109 in 2011 and 2010, respectively		1,435		2,703
Prepaid expenses and other assets		2,168		2,296
Intangible Assets:
Goodwill		5,155		5,430
Above market leases, net of accumulated amortization of $8,845 and $8,741 in 2011 and 2010, respectively		4,414		526
In-place leases, net of accumulated amortization of $2,833 and $2,492 in 2011 and 2010, respectively		16,144		322
	$	52,720	$	44,264

Investment in Verde. Investment in Verde relates to a cost method investment in a non-public real estate investment trust. See Note 5 for a discussion of the impairment loss recognized on the investment in Verde during 2011.

Lease Inducements. Lease inducements represent incentives paid to tenants in conjunction with leasing space, such as moving costs, sublease arrangements of prior space and other costs. These amounts are amortized into rental revenues over the individual underlying lease terms.

Predevelopment Costs and Earnest Money. Predevelopment costs represent amounts that are capitalized related to predevelopment projects which the Company determines are probable of future development. In 2011, the Company transferred $6.2 million in predevelopment assets to investment in joint ventures related to the EP I, LLC project (see Note 4). In addition, in 2011, the Company incurred an expense of approximately $937,000 to write off a predevelopment project that was deemed no longer probable of development.

Intangible Assets. Intangible assets, other than goodwill, mainly relate to the acquisition of Promenade in 2011 (see Note 8), with small amounts remaining relating to the 2006 acquisition of the interests in 191 Peachtree Tower. In addition, the Company acquired intangible liabilities with these purchases, including below-market tenant leases and an above-market ground lease, both of which are recorded within Accounts Payable and Accrued Liabilities on the Balance Sheets. Both above-market and below-market tenant leases are amortized into rental revenues over the individual remaining lease terms. The above-market ground lease is amortized into rental property operating expenses over its remaining lease term. In-place leases are amortized into depreciation and amortization expense, also over the individual remaining lease terms. Aggregate net amortization expense related to intangible assets and liabilities was $305,000, $4,000 and $165,000 for the years ended December 31, 2011, 2010 and 2009, respectively. Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows (in thousands):

		September 30,			September 30,			September 30,		September 30,		September 30,
	Below Market Rents			Above Market Ground Lease			Above Market Rents		In Place Leases		Total
2012	$	(274	)	$	(9	)	$	674	$	2,633	$	3,024
2013		(249	)		(9	)		674		2,465		2,881
2014		(244	)		(9	)		674		2,324		2,745
2015		(231	)		(9	)		658		2,200		2,618
2016		(200	)		(9	)		390		1,510		1,691
Thereafter		(562	)		(633	)		1,344		5,012		5,161
	$	(1,760	)	$	(678	)	$	4,414	$	16,144	$	18,120
Weighted average remaining lease term		8 years			75 years			8 years		8 years		10 years

Goodwill relates entirely to the office reporting unit. As office assets are sold, either by the Company or by joint ventures in which the Company has an interest, goodwill is allocated to the cost of each sale. The following is a summary of goodwill activity for the years ended December 31, 2011 and 2010 (in thousands):

		September 30,			September 30,
	2011			2010
Beginning Balance	$	5,430		$	5,450
Allocated to property sales		(275	)		(20	)
Ending Balance	$	5,155		$	5,430

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Income Taxes (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Additional Income Taxes (Textual) [Abstract]
Deferred tax asset of the company's taxable REIT subsidiary, CREC	$ 86,035,000	$ 47,936,000
Amount of company's federal and state combined net operating loss carryforward	120,500,000
Net operating loss carryforwards of federal and state utilized	1,300,000
Alternative minimum tax credit carryforwards	72,000
Federal and state deferred tax assets due to NOL and AMT credit carryforwards	23,900,000
Interest carryforwards related to interest deductions	33,700,000	33,700,000
Deferred tax assets, interest carryforward	13,158,000	13,158,000
Income tax receivables		$ 500,000
Maximum [Member]
Income Taxes (Textual) [Abstract]
Expiration dates of the remaining net operating loss carryforwards range	2030
Minimum [Member]
Income Taxes (Textual) [Abstract]
Expiration dates of the remaining net operating loss carryforwards range	2022

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Real Estate and Accumulated Depreciation (Details 1) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Real Estate
Real estate, beginning balance	$ 1,363,320	$ 1,468,413	$ 1,458,001
Additions during the period:
Cost of real property acquired	116,229	0	0
Improvements and other capitalized costs	50,009	43,798	83,211
Depreciation expense	0	0	0
Real estate additions, total	166,238	43,798	83,211
Deductions during the period:
Cost of real estate sold or foreclosed	(162,989)	(143,497)	(31,908)
Impairment loss	(104,183)	(2,554)	(34,900)
Write-Off of fully depreciated assets	(8,972)	(2,840)	(5,991)
Real estate deductions, total	(276,144)	(148,891)	(72,799)
Real estate, ending balance	1,253,414	1,363,320	1,468,413
Accumulated Depreciation
Real estate accumulated depreciation, beginning balance	274,925	233,091	186,252
Additions during the period:
Acquisition	0	0	0
Improvements and other capitalized costs	0	0	0
Depreciation expense	52,630	58,585	52,926
Real estate accumulated depreciation additions, total	52,630	58,585	52,926
Deductions during the period:
Cost of real estate sold or foreclosed	(29,110)	(13,911)	(96)
Impairment loss	0	0	0
Write-Off of fully depreciated assets	(8,972)	(2,840)	(5,991)
Real estate accumulated depreciation deductions, total	(38,082)	(16,751)	(6,087)
Real estate accumulated depreciation, ending balance	$ 289,473	$ 274,925	$ 233,091

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Property Transactions (Details 1) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Components of Income (Loss) from Discontinued Operations
Rental property revenues	$ 11,115	$ 17,806	$ 21,543
Other income	98	35	53
Rental property operating expenses	4,474	6,515	8,571
Depreciation and amortization	3,887	6,643	8,052
Interest expense			(1,634)
Income (loss) from discontinued operations	$ 2,852	$ 4,683	$ 3,339

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Income Taxes (Details 2) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Tax effect of significant temporary differences representing deferred tax assets and liabilities
Income from unconsolidated joint ventures	$ 26,009	$ 5,519
Residential lots, land and outparcels	20,248	0
Long-term incentive equity awards	1,608	1,281
For-sale multi-family units basis differential	269	2,519
Interest Carryforward	13,158	13,158
Federal and state tax carryforwards	23,883	25,464
Other	860	(5)
Total deferred tax assets	86,035	47,936
Valuation allowance	(86,035)	(47,936)
Net deferred tax asset	$ 0	$ 0

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Consolidated Statements of Cash Flows Supplemental Information (Tables)

12 Months Ended

Dec. 31, 2011

Consolidated Statements of Cash Flows Supplemental Information [Abstract]

Supplemental Information Related to Cash Flows

		September 30,			September 30,			September 30,
	2011			2010			2009
Interest paid, net of amounts capitalized	$	25,960		$	35,616		$	40,219
Income taxes refunded, net of payments		(551	)		(3,308	)		(891	)
Non-Cash Transactions:
Transfer from other assets to investment in joint venture		6,193			—			—
Transfer from land to operating properties		5,159			1,410			—
Decrease in land and notes payable due to foreclosure		3,374			—			—
Adjustments to property expenditures for amounts included in accounts payable		1,559			1,976			5,093
Change in fair value of redeemable noncontrolling interests		766			378			180
Issuance of common stock for payment of common dividends		—			24,282			19,711
Land collateral received from note receivable default		—			5,030			—
Increase in notes receivable for lease termination and land and lot sales		—			3,312			—
Transfer from notes receivable to multi-family residential units		—			—			8,167
Transfer from notes payable to redeemable noncontrolling interests		—			—			8,767
Transfer from other assets to land		—			—			2,440
Increase in notes payable upon consolidation of entities		—			—			11,918
Issuance of note payable for purchase of townhomes		—			—			3,150
Transfer from investment in joint venture to land upon consolidation of entities		—			—			9,116

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Impairment Losses (Details Textual) (USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended
	Dec. 31, 2011 Project Property	Dec. 31, 2011 Project
Impairment Losses (Textual) [Abstract]
No. of operating properties	2
No. of residential project	12
No. of residential development projects and related residential land sold		18
Sales price of residential land projects		$ 23.5
Total fair value of real estate assets, including investments in joint ventures	$ 104.5	$ 104.5

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Retirement Savings Plan

12 Months Ended

Dec. 31, 2011

Retirement Savings Plan [Abstract]

RETIREMENT SAVINGS PLAN

15. RETIREMENT SAVINGS PLAN

The Company maintains a defined contribution plan (the “Retirement Savings Plan”) pursuant to Section 401 of the Internal Revenue Code (the “Code”) which covers active regular employees. Employees are eligible under the Retirement Savings Plan immediately upon hire, and pre-tax contributions are allowed up to the limits set by the Code. In years prior to 2011, the Company made discretionary retirement savings contributions into the Retirement Savings Plan for certain eligible active regular employees based on an annual, discretionary percentage as determined by the Compensation, Nominating and Governance Committee of the Board of Directors. Beginning in 2011, the Company changed to a match program of up to 3% of an employee’s eligible pre-tax Retirement Savings Plan contributions up to certain Code limits, rather than an annual discretionary contribution. Employees vest in Company contributions over a three-year period. The Company may change this percentage at its discretion, and, in addition, the Company could decide to make additional or replacement discretionary contributions in the future. The Company contributed approximately $748,000, $1.2 million and $1.4 million to the Retirement Savings Plan for the 2011, 2010 and 2009 plan years, respectively.

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Notes Payable, Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2011

Notes Payable, Commitments and Contingencies [Abstract]

Summary of terms of notes payable

	September 30,		September 30,		September 30,		September 30,		September 30,
		Term/
		Amortization
Description (see notes below)	Interest Rate	Period (Years)		Maturity		2011		2010
Credit Facility, unsecured	LIBOR + 1.75% to 2.25%		5/N/A		8/29/12	$	198,250	$	105,400
Terminus 100 mortgage note	5.25%		12/30		1/1/23		138,194		140,000
The American Cancer Society Center mortgage note (interest only until October 1, 2011)	6.45%		10/30		9/1/17		135,650		136,000
Meridian Mark Plaza mortgage note	6.00%		10/30		8/1/20		26,554		26,892
100/200 North Point Center East mortgage note	5.39%		5/30		6/1/12		24,478		24,830
The Points at Waterview mortgage note	5.66%		10/25		1/1/16		16,135		16,592
Callaway Gardens	4.13%		N/A		11/18/13		180		173
Mahan Village LLC	3.25%		3/N/A		9/12/14		1		—
333/555 North Point Center East mortgage note	7.00%		10/25		11/1/11		—		26,412
Lakeshore Park Plaza mortgage note	5.89%		4/25		8/1/12		—		17,544
600 University Park Place mortgage note	7.38%		10/30		8/10/11		—		12,292
Handy Road Associates, LLC	Prime + 1%, but not < 6%		5/N/A		3/30/2011		—		3,374
						$	539,442	$	509,509

Fair Values of the interest rate swap agreements

		September 30,			September 30,			September 30,
	Term Facility			Floating Rate, LIBOR-based Borrowings			Total
Balance, December 31, 2009	$	8,662		$	855		$	9,517
Termination of swap		(9,235	)		—			(9,235	)
Change in fair value		573			(855	)		(282	)
Balance, December 31, 2010	$	—		$	—		$	—

Debt Maturities

		September 30,
2012	$	227,050
2013		4,783
2014		4,878
2015		5,168
2016		18,869
Thereafter		278,694
	$	539,442

Summary of interest

		September 30,			September 30,		September 30,
	2011			2010		2009
Total interest incurred	$	28,384		$	37,180	$	45,129
Interest expense — discontinued operations		—			—		(1,634	)
Interest capitalized		(600	)		—		(3,736	)
Total interest expense	$	27,784		$	37,180	$	39,759

Lease Commitments

		September 30,
2012	$	589
2013		274
2014		206
2015		196
2016		146
Thereafter		15,000
	$	16,411

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Investment in Unconsolidated Joint Ventures (Details Textual) (USD $)	11 Months Ended	12 Months Ended							12 Months Ended					12 Months Ended										12 Months Ended					12 Months Ended									12 Months Ended		12 Months Ended						12 Months Ended														12 Months Ended				12 Months Ended											12 Months Ended				1 Months Ended	12 Months Ended	1 Months Ended
	Nov. 30, 2011 sqft	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2006 CP Venture IV Holdings LLC [Member]	Dec. 31, 2011 CP Venture IV Holdings LLC [Member]	Dec. 31, 2010 CP Venture IV Holdings LLC [Member]	Jun. 30, 2006 CP Venture IV Holdings LLC [Member]	Dec. 31, 2011 CP Venture Five LLC [Member] sqft Property	Dec. 31, 2010 CP Venture Five LLC [Member] Secured Mortgage Note Payable [Member]	Sep. 30, 2010 CP Venture Five LLC [Member] Secured Mortgage Note Payable [Member]	Dec. 31, 2011 CP Venture Five LLC [Member] Suburban Atlanta, Georgia [Member] Property	Dec. 31, 2011 CP Venture Five LLC [Member] Viera, Florida [Member] Property	Dec. 31, 2011 Charlotte Gateway Village, LLC [Member] sqft	Dec. 31, 2011 Charlotte Gateway Village, LLC [Member] Secured Mortgage Note Payable [Member]	Dec. 31, 2011 CF Murfreesboro Associates [Member] sqft	Dec. 31, 2011 Palisades West LLC [Member]	Dec. 31, 2011 Palisades West LLC [Member] Dimensional Fund Advisors [Member]	Dec. 31, 2011 Palisades West LLC [Member] Dimensional Fund Advisors [Member] One Building [Member]	Dec. 31, 2011 Palisades West LLC [Member] Forestar [Member] Two Building [Member]	Dec. 31, 2011 Palisades West LLC [Member] Cousins [Member] Two Building [Member]	Dec. 31, 2011 Palisades West LLC [Member] Third Party [Member] Two Building [Member]	Dec. 31, 2011 Palisades West LLC [Member] Real Estate Group [Member]	Dec. 31, 2011 Palisades West LLC [Member] TEXAS sqft	Dec. 31, 2011 Palisades West LLC [Member] TEXAS One Building [Member] sqft	Dec. 31, 2011 Palisades West LLC [Member] TEXAS Two Building [Member] sqft	Dec. 31, 2011 Palisades West LLC [Member] TEXAS Building [Member] Property	Dec. 31, 2011 CP Venture LLC entities [Member]	Dec. 31, 2011 CP Venture LLC entities [Member] Office Building [Member] sqft Property	Dec. 31, 2011 CP Venture LLC entities [Member] Retail [Member] sqft Property	Dec. 31, 2011 MSREF/Cousins Terminus 200 LLC [Member] sqft	Dec. 31, 2011 Terminus 200 LLC [Member]	Dec. 31, 2010 Terminus 200 LLC [Member]	Dec. 31, 2011 CL Realty, L.L.C. [Member] acre Lots	Dec. 31, 2010 CL Realty, L.L.C. [Member] acre Lots	Dec. 31, 2009 CL Realty, L.L.C. [Member] Lots acre	Dec. 31, 2011 CL Realty, L.L.C. [Member] Land [Member] acre	Dec. 31, 2011 CL Realty, L.L.C. [Member] Residential Real Estate [Member] Project	Dec. 31, 2011 CL Realty, L.L.C. [Member] Forestar [Member]	Dec. 31, 2011 CL Realty, L.L.C. [Member] GEORGIA Residential Real Estate [Member] Project	Dec. 31, 2011 CL Realty, L.L.C. [Member] TEXAS Residential Real Estate [Member] Project	Dec. 31, 2011 CL Realty, L.L.C. [Member] FLORIDA Residential Real Estate [Member] Project	Dec. 31, 2011 Ten Peachtree Place Associates [Member]	Dec. 31, 2010 Ten Peachtree Place Associates [Member]	Dec. 31, 2011 Ten Peachtree Place Associates [Member] Wholly-owned subsidiary of The Coca-Cola Company [Member]	Dec. 31, 2011 Ten Peachtree Place Associates [Member] Secured Mortgage Note Payable [Member]	Dec. 31, 2011 Ten Peachtree Place Associates [Member] Midtown Atlanta, Georgia [Member] acre	Dec. 31, 2011 Temco Associates, LLC [Member] acre	Dec. 31, 2010 Temco Associates, LLC [Member] acre	Dec. 31, 2009 Temco Associates, LLC [Member] acre	Dec. 31, 2011 Temco Associates, LLC [Member] Residential Real Estate [Member] Lots	Dec. 31, 2010 Temco Associates, LLC [Member] Residential Real Estate [Member] Lots	Dec. 31, 2009 Temco Associates, LLC [Member] Residential Real Estate [Member] Lots	Dec. 31, 2011 Temco Associates, LLC [Member] Forestar [Member]	Dec. 31, 2010 Temco Associates, LLC [Member] GEORGIA Residential Real Estate [Member] Lots Property	Dec. 31, 2011 Crawford Long - CPI, LLC [Member]	Dec. 31, 2010 Crawford Long - CPI, LLC [Member]	Dec. 31, 2011 Crawford Long - CPI, LLC [Member] Emory University [Member]	Dec. 31, 2011 Crawford Long - CPI, LLC [Member] Secured Mortgage Note Payable [Member]	Dec. 31, 2011 Crawford Long - CPI, LLC [Member] Midtown Atlanta, Georgia [Member] sqft	Dec. 31, 2011 Wildwood Associates [Member]	Dec. 31, 2011 Wildwood Associates [Member] IBM [Member]	Dec. 31, 2011 Wildwood Associates [Member] Suburban Atlanta, Georgia [Member] acre	Dec. 31, 2011 Cousins Watkins LLC [Member]	Dec. 31, 2010 Cousins Watkins LLC [Member] MortgagePool	Dec. 31, 2010 Cousins Watkins LLC [Member] Maximum [Member]	Dec. 31, 2010 Cousins Watkins LLC [Member] Minimum [Member]	Dec. 31, 2010 Cousins Watkins LLC [Member] Retail [Member] Property	Dec. 31, 2010 Cousins Watkins LLC [Member] Mortgages [Member]	Dec. 31, 2011 Cousins Watkins LLC [Member] Four Loans [Member]	Dec. 31, 2011 TRG Columbus Development Venture, Ltd. [Member] Unit Project	Dec. 31, 2010 TRG Columbus Development Venture, Ltd. [Member]	Dec. 31, 2011 TRG Columbus Development Venture, Ltd. [Member] 50 Biscayne Ventures, LLC [Member]	Dec. 31, 2011 TRG Columbus Development Venture, Ltd. [Member] Related Group of Florida [Member]	Dec. 31, 2011 Pine Mountain Builders, LLC [Member] Property	Dec. 31, 2010 Pine Mountain Builders, LLC [Member] Property	Dec. 31, 2009 Pine Mountain Builders, LLC [Member] Property	Dec. 31, 2011 Pine Mountain Builders, LLC [Member] Fortress Construction Company [Member]	Jun. 28, 2011 EP I LLC [Member]	Dec. 31, 2011 EP I LLC [Member]	Jun. 28, 2011 EP I LLC [Member] Gables Realty Limited [Member]	Dec. 31, 2011 EP I LLC [Member] Gables Realty Limited [Member]
Investment In Unconsolidated Joint Ventures (Textual) [Abstract]
Date of joint venture formation					Jun. 01, 2006
Maximum amount available under construction facility, revised																$ 113,200,000																																																																$ 61,100,000
Construction loan secured by a project totaling																																		1,100,000
Investment by third party in joint venture																																							50.00%
Square footage of real estate property	775,000								1,200,000					1,100,000		751,000								373,000	216,000	157,000			69,000	934,000	566,000																260,000													358,000
No. of residential project																																						14		1	10	3
Number of lots in real estate property sold																																		445	330	128
Acres of land to be developed or sold as undeveloped tracts																																					1,124											5,800
Acres of land available for development or sale																																																															36
Company's ownership percentage in equity method investment								11.50%									50.00%											10.40%			20.00%			50.00%									50.00%					50.00%								50.00%					50.00%												88.25%		50.00%					75.00%		25.00%
Debt secured by a golf course																																																2,800,000
Original principal of mortgage note payable of Joint Venture											36,600,000
Outstanding amount of mortgage note payable of joint venture						36,000,000									83,100,000																															26,200,000													47,600,000
Cash balance of equity method investee							2,200,000							1,600,000		6,700,000	1,200,000											1,800,000						797,000										753,000													2,300,000							513,000								722,000
Interest rate on mortgage loan											4.52%				6.41%																															5.39%													5.90%
Amortization period for mortgage note payable of Joint Venture											30 years
Remaining lots to be developed and/or sold																																		3,141																					1,513
Acres of land sold																																		20	657	4												19	0	42
Payments of guarantees under debt agreements			17,250,000																														17,250,000
Debt instrument description of variable rate basis, LIBOR		the spread over LIBOR was 2.0%																														LIBOR																																		LIBOR	LIBOR
Adjusted interest rate for construction loan																LIBOR
Spread over LIBOR		2.00%														3.00%																2.25%																																		2.85%	2.65%
Percentage of building leased to partners																			100.00%	21.00%	3.00%	73.00%
Maturity date of debt instrument										Dec. 01, 2017					Dec. 01, 2016	Jul. 20, 2010																		Nov. 01, 2012												Apr. 01, 2015		May 12, 2012
Date instrument, payment date																																		Jan. 01, 2012
Shares impairment charges																																		13,600,000	2,200,000	2,600,000												14,600,000		631,000
Percentage of real estate property leased														100.00%
Number of real estate properties owned by equity investee									5			3	2														2		1	3																									4													4
Mortgage loans on real estate maximum borrowing capacity																																																																33,500,000
Ending year of lease agreement														2016
Basis of allocation of joint ventures net income or loss and cash distributions														First to the Company so that it receives a cumulative compounded return equal to 11.46% on its capital contributions, second to BOA until it receives an amount equal to the aggregate amount distributed to the Company and then 50% to each member
Maximum IRR on project														17.00%
Ownership Percentage of partner joint venture																50.00%																													50.00%									50.00%				50.00%				50.00%												60.00%				50.00%
Partner's ownership percentage in equity method investment																																																																									40.00%
Maximum amount available under construction facility, previous																131,000,000
Period for conditioned extension option under construction loan																1 year
Extended maturity date of construction loan																Jul. 20, 2013																Dec. 13, 2013
Decreased amount available under construction loan																																92,000,000
Principal payments made in conjunction with loan modification																8,200,000
Fees paid by Venture for modifications in terms of Construction loan																1,000,000
Amount drawn on construction loan																98,900,000
Guarantee of indebtedness																26,200,000
Number of lots sold by Temco																																																			11	2	0
Company's share of impairment of equity investee																																																																												1,500,000
Interest rate on additional capital contributions made by partners																																											8.00%
Next cash flows after august 1, 2011																																											15,300,000
Percentage of cash flow distributed to company																																											15.00%
Percentage of cash flow distributed to partners																																											85.00%
Percentage of cash flow each partner is entitled to receive																																											50.00%
Approximate cash contribution of Company in joint venture																																																																	14,900,000														8,100,000		3,800,000
Additional cash contributions to be made to joint venture for EPI																																																																																6,500,000
Number of mortgage loans obtained by joint venture																																																																	4
Outstanding balance of mortgage loan																																																																						28,600,000
Maturity date of mortgage loans																																																																Jan. 01, 2016																Jun. 28, 2014
Extension of mortgage loans maturity, conditions																																																																two one-year terms, provided certain conditions are met																two one-year terms, provided certain conditions are met
Percentage of loans guaranteed by Company																																																																	25.00%
Approximate amount of loans guaranteed by Company																																																																					4,100,000											11,500,000		3,800,000
Fair value of guarantees																																																																	40,750
Internal rate of return on project																																																																16.00%
Income recognized by Biscayne																																																																									40.00%
Multi family residential units financed by joint venture																																																																							5
Percentage of ownership																		25.00%					25.00%																																																		11.75%
Number of Homes Sold																																																																											8	14	4
Interest rate on loan																LIBOR plus 1.15%																																LIBOR plus 6.5%
Company's Investment		160,587,000	167,108,000																																																										1,600,000
Expected investment balance after sale of joint venture assets																																		3,400,000														2,900,000
Fees earned from unconsolidated joint ventures		10,100,000	10,400,000	8,900,000
Number of units in real estate property																																																																							529
Debt instrument, basis spread on variable rate maximum																																																																	we
Transfer from predevelopment assets to investment in joint venture related to the EP I, LLC project		$ 6,200,000																																																																													$ 6,200,000

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Significant Accounting Policies (Details Textual) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Significant Accounting Policies (Textual) [Abstract]
Period in which the company capitalizes interest, real estate taxes and certain operating expenses on the unoccupied portion of recently completed properties, beginning with the date it receives its certificate of occupancy	95.00%
Period in which the company capitalizes interest, real estate taxes and certain operating expenses on the unoccupied portion of recently completed properties, beginning with the date it receives its certificate of occupancy	1 year
Reimbursement of rental revenue from tenants	$ 26.9	$ 25.5	$ 25.4
Period of delinquency when the Company generally reserves accounts receivable for specific tenants on rental payments and reimbursements	90 days or more
Period of delinquency when the Company also reserves accounts receivable when it deems that collectability is highly questionable	less than 90 days
Required distribution of adjusted taxable income to qualify as a REIT	90.00%
Original maturities of securities and repurchase agreements included in highly-liquid money market instruments	three months or less
Money market mutual funds and treasury bills included in highly-liquid money market instruments	30 days or less
Building [Member]
Property, Plant and Equipment [Line Items]
Maximum useful life	40
Minimum useful life	24
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Maximum useful life	5
Minimum useful life	3

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Consolidated Statements of Equity (USD $) In Thousands, unless otherwise specified	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss on Derivative Instruments	Distributions in Excess of Net Income	Stockholders' Investment	Nonredeemable Noncontrolling Interests
Beginning Balance at Dec. 31, 2008	$ 504,262	$ 169,602	$ 54,922	$ 368,829	$ (86,840)	$ (16,601)	$ (23,189)	$ 466,723	$ 37,539
Net income	29,721						27,295	27,295	2,426
Other comprehensive income	7,084					7,084		7,084
Total comprehensive income (loss)	36,805					7,084	27,295	34,379	2,426
Common stock issued pursuant to:
Common stock offering, net of issuance costs	318,406		46,000	272,406				318,406
Stock dividend, net of issuance costs	0		2,420	17,291			(19,711)
Director stock grants	265		29	236				265
Amortization of stock options and restricted stock, net of forfeitures	3,478		(19)	3,497				3,478
Income tax deficiency from stock based compensation	(43)			(43)				(43)
Distributions to nonredeemable noncontrolling interests	(7,117)								(7,117)
Change in fair value of redeemable noncontrolling interests	(180)						(180)	(180)
Cash preferred dividends paid	(12,907)						(12,907)	(12,907)
Cash common dividends paid	(22,710)						(22,710)	(22,710)
Ending Balance at Dec. 31, 2009	820,259	169,602	103,352	662,216	(86,840)	(9,517)	(51,402)	787,411	32,848
Net income	(12,209)						(14,573)	(14,573)	2,364
Other comprehensive income	9,517					9,517		9,517
Total comprehensive income (loss)	(2,692)					9,517	(14,573)	(5,056)	2,364
Common stock issued pursuant to:
Stock dividend, net of issuance costs	(95)		3,353	20,834			(24,282)	(95)
Director stock grants	250		35	215				250
Restricted stock grants, net of amounts withheld for income taxes	(74)		256	(330)				(74)
Amortization of stock options and restricted stock, net of forfeitures	2,348		(34)	2,382				2,348
Distributions to nonredeemable noncontrolling interests	(2,440)								(2,440)
Change in fair value of redeemable noncontrolling interests	378			(766)			1,144	378
Cash preferred dividends paid	(12,907)						(12,907)	(12,907)
Cash common dividends paid	(12,176)						(12,176)	(12,176)
Ending Balance at Dec. 31, 2010	792,851	169,602	106,962	684,551	(86,840)		(114,196)	760,079	32,772
Net income	(124,900)						(128,425)	(128,425)	3,525
Other comprehensive income
Total comprehensive income (loss)	(124,900)						(128,425)	(128,425)	3,525
Common stock issued pursuant to:
Director stock grants	707		82	625				707
Stock option exercises	18		4	14				18
Restricted stock grants, net of amounts withheld for income taxes	(9)		243	(252)				(9)
Amortization of stock options and restricted stock, net of forfeitures	2,112		(19)	2,131				2,112
Contributions from nonredeemable noncontrolling interests	1,300								1,300
Distributions to nonredeemable noncontrolling interests	(3,894)								(3,894)
Change in fair value of redeemable noncontrolling interests	766			766				766
Cash preferred dividends paid	(12,907)						(12,907)	(12,907)
Cash common dividends paid	(18,649)						(18,649)	(18,649)
Ending Balance at Dec. 31, 2011	$ 637,395	$ 169,602	$ 107,272	$ 687,835	$ (86,480)		$ (274,177)	$ 603,692	$ 33,703

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Investment in Unconsolidated Joint Ventures

12 Months Ended

Dec. 31, 2011

Investment in Unconsolidated Joint Ventures [Abstract]

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES

4. INVESTMENT IN UNCONSOLIDATED JOINT VENTURES

The following information summarizes financial data and principal activities of the Company’s unconsolidated joint ventures. The information included in the following table entitled Summary of Financial Position is as of December 31, 2011 and 2010. The information included in the Summary of Operations table is for the years ended December 31, 2011, 2010 and 2009. Dollars in both tables are in thousands.

		000000		000000		000000		000000		000000			000000			000000			000000
	Total Assets				Total Debt				Total Equity						Company's Investment
SUMMARY OF FINANCIAL POSITION:	2011		2010		2011		2010		2011			2010			2011			2010
CP Venture IV Holdings LLC	$	301,352	$	313,603	$	36,031	$	36,620	$	255,881		$	267,085		$	14,694		$	15,364
Charlotte Gateway Village, LLC		146,854		154,200		83,097		97,030		62,423			54,834			10,333			10,366
CF Murfreesboro Associates		125,668		129,738		98,922		103,378		24,810			24,263			14,421			14,246
Palisades West LLC		124,588		129,378		—		—		81,635			80,767			42,616			42,256
CP Venture LLC entities		102,178		106,066		—		—		99,942			104,067			3,343			3,779
MSREF/ Cousins Terminus 200 LLC		92,421		65,164		68,562		46,169		17,967			13,956			3,593			2,791
CL Realty, L.L.C.		44,481		86,657		1,056		2,663		42,932			82,534			22,413			39,928
Cousins Watkins LLC		56,096		57,184		28,571		28,850		26,893			28,334			16,321			14,850
Temco Associates, LLC		23,653		60,608		2,787		2,929		20,646			57,475			7,363			22,713
EP I LLC		33,343		—		1		—		29,137			—			24,827			—
Crawford Long—CPI, LLC		32,739		34,408		47,631		48,701		(16,137	)		(15,341	)		(6,873	)*		(6,431	)*
Ten Peachtree Place Associates		22,523		20,980		26,192		26,782		(4,145	)		(6,263	)		(3,679	)*		(4,581	)*
Wildwood Associates		21,224		21,220		—		—		21,221			21,216			(1,639	)*		(1,642	)*
TRG Columbus Development Venture, Ltd.		2,450		3,574		—		—		1,857			2,115			31			58
Terminus 200 LLC		789		789		—		—		789			789			—			—
Pine Mountain Builders, LLC		429		1,559		—		896		153			403			632			757
	$	1,130,788	$	1,185,128	$	392,850	$	394,018	$	666,004		$	716,234		$	148,396		$	154,454

		Septe		Septe		Septe		Septe			Septe			Septe			Septe			Septe			Septe
	Total Revenues						Net Income (Loss)									Company's Share of Net Income (Loss)
SUMMARY OF OPERATIONS:	2011		2010		2009		2011			2010			2009			2011			2010			2009
CP Venture IV Holdings LLC	$	31,020	$	31,343	$	32,698	$	4,008		$	3,955		$	4,555		$	1,054		$	1,034		$	1,142
Charlotte Gateway Village, LLC		32,442		31,812		31,276		8,802			7,829			6,997			1,176			1,176			1,176
CF Murfreesboro Associates		13,081		13,785		12,205		547			1,032			1,474			25			280			539
Palisades West LLC		16,230		13,588		12,677		5,858			4,668			5,303			2,858			2,265			2,588
CP Venture LLC entities		19,061		18,394		18,038		8,459			8,899			8,552			860			921			882
MSREF/ Cousins Terminus 200 LLC		6,093		1,873		—		(3,453	)		(1,967	)		—			(693	)		(393	)		—
CL Realty, L.L.C.		9,141		28,013		2,698		(28,508	)		227			(8,500	)		(11,971	)		3,543			(2,552	)
Cousins Watkins LLC		4,831		—		—		42			(1,072	)		—			2,410			—			—
Temco Associates, LLC		653		2,180		1,420		(37,494	)		210			(2,728	)		(15,074	)		104			(1,357	)
EP I LLC		—		—		—		(6	)		—			—			(4	)		—			—
Crawford Long—CPI, LLC		11,904		11,415		11,324		2,404			1,939			1,784			1,199			969			890
Ten Peachtree Place Associates		7,178		7,776		7,436		1,161			981			718			596			506			375
Wildwood Associates		1		55		—		(155	)		(129	)		(133	)		(77	)		(65	)		(67	)
TRG Columbus Development Venture, Ltd.		26		1,091		506		(7	)		783			30			72			473			115
Terminus 200 LLC		—		533		654		1			55			(82,441	)		—			—			(20,954	)
Pine Mountain Builders, LLC		2,931		6,339		2,143		(250	)		(2,541	)		(254	)		(125	)		(1,316	)		(142	)
Other		—		—		—		—			—			(316	)		3			(4	)		(274	)
	$	154,592	$	168,197	$	133,075	$	(38,591	)	$	24,869		$	(64,959	)	$	(17,691	)	$	9,493		$	(17,639	)

* Negative balances are included in Deposits and Deferred Income on the Balance Sheets.

See Note 5 herein for a discussion of impairments taken by the Company on certain of its investments in joint ventures. The Company’s share of income above includes results of operations and any impairments that were recognized at the venture level, and excludes impairments taken at the Company’s ownership level related to its investment in these entities.

CP Venture IV Holdings LLC (“CPV IV”) – See Note 8 for further description related to venture formation and structure. CPV IV was formed in June 2006, and the Company recorded its investment in CPV IV at an amount equal to 11.5% of its original cost basis in the contributed properties. CPV IV wholly owns CP Venture Five LLC which owns five retail properties totaling approximately 1.2 million rentable square feet; three in suburban Atlanta, Georgia, and two in Viera, Florida. In 2010, CP Venture Five LLC refinanced the mortgage note payable secured by The Avenue East Cobb by entering into a note with an original principal of $36.6 million ($36.0 million outstanding as of December 31, 2011) and a fixed interest rate of 4.52%. Principal and interest payments are made based on a 30-year amortization, and the maturity date is December 1, 2017. The assets of CPV IV in the above table include a cash balance of approximately $2.2 million at December 31, 2011.

Charlotte Gateway Village, LLC (“Gateway”) – Gateway is a joint venture between the Company and Bank of America Corporation (“BOA”), which owns and operates Gateway Village, a 1.1 million square foot office building complex in downtown Charlotte, North Carolina. The project is 100% leased to BOA through 2016. Gateway’s net income or loss and cash distributions are allocated to the members as follows: first to the Company so that it receives a cumulative compounded return equal to 11.46% on its capital contributions, second to BOA until it receives an amount equal to the aggregate amount distributed to the Company and then 50% to each member. The Company’s total project return on Gateway is ultimately limited to an internal rate of return of 17% on its invested capital. Gateway has a mortgage note payable with an outstanding balance at December 31, 2011 of $83.1 million, a maturity of December 1, 2016 and an interest rate of 6.41%. The assets of the venture in the above table include a cash balance of approximately $1.6 million at December 31, 2011.

CF Murfreesboro Associates (“CF Murfreesboro”)—CF Murfreesboro is a 50-50 joint venture between the Company and an affiliate of Faison Associates, that owns and operates The Avenue Murfreesboro, a 751,000 square foot retail center in suburban Nashville, Tennessee. The development of the center was financed mainly by a construction loan, with a maximum amount available of $131 million, an interest rate of LIBOR plus 1.15% and an original maturity date of July 20, 2010. In June 2010, the construction loan was modified to extend the maturity date to July 20, 2013, adjust the interest rate to LIBOR plus 3% and decrease the capacity under the loan to $113.2 million. The venture made principal payments of $8.2 million and paid $1 million in fees as part of this modification. Approximately $98.9 million has been drawn on the construction loan as of December 31, 2011, and the venture must make quarterly principal payments based on cash flows from the center, plus an additional annual payment, if necessary, based on a defined debt service coverage ratio. In addition, the Company has a repayment guarantee on the loan of $26.2 million. The assets of the venture in the above table include cash and restricted cash balances of approximately $6.7 million at December 31, 2011.

Palisades West LLC (“Palisades”) – Palisades is a joint venture that was formed with the Company holding a 50% interest, Dimensional Fund Advisors (“DFA”) holding a 25% interest and Forestar (USA) Real Estate Group Inc. (“Forestar”) holding a 25% interest. Palisades owns and operates two office buildings totaling 373,000 square feet in Austin, Texas. One of the buildings contains 216,000 square feet and is 100% leased to DFA. The other building contains 157,000 square feet, is 21% leased to Forestar, 3% leased to Cousins and 73% leased to third parties. The assets of the venture in the above table include a cash balance of approximately $1.2 million at December 31, 2011. Subsequent to December 31, 2011, DFA purchased Forestar’s interest in Palisades. DFA has the option to purchase the Company’s interest in the venture during a certain time period late in 2012 for fair market value.

CP Venture LLC Entities (“CPV”) – See Note 8 for further description related to venture formation and structure. The Company’s effective ownership in CPV is 10.4%. As of December 31, 2011, CPV owned one office building totaling 69,000 rentable square feet and three retail properties totaling approximately 934,000 rentable square feet. The assets of the venture in the above table include a cash balance of approximately $1.8 million at December 31, 2011.

Terminus 200 LLC (“T200”) and MSREF/Cousins Terminus 200 LLC (“MSREF/T200”) – T200 developed and operated a 566,000 square foot office building within the Terminus project in Atlanta, Georgia. The partners of T200 guaranteed the construction loan up to an amount of $17.25 million each, plus any unpaid interest. During 2009, the Company accrued this guarantee amount and recorded impairment charges equal to its full investment in T200. In the second quarter of 2010, the Company paid this guarantee. Concurrently, the Company entered into a transaction where the partner in T200 withdrew, and the Company and Morgan Stanley formed a new venture, MSREF/T200. In connection with this transaction, the Company and Morgan Stanley contributed equity to MSREF/T200, T200 conveyed the office building to MSREF/T200, and the new venture assumed the construction loan. Also in connection with this transaction, the term of the loan was extended to December 31, 2013, the interest rate was adjusted to LIBOR + 2.5%, and the availability under the loan was reduced to $92 million. The Company’s ownership interest in MSREF/T200 is 20%.

CL Realty, L.L.C. (“CL Realty”) – CL Realty is a 50-50 joint venture between the Company and Forestar Realty Inc. As of December 31, 2011, CL Realty, either directly or through investments in joint ventures, owned interests in 14 residential projects, 10 of which were in Texas, one in Georgia and three in Florida. CL Realty sold 445, 330 and 128 lots in 2011, 2010 and 2009, respectively, and 3,141 lots are projected to be developed and/or sold in future periods. The venture also sold 20, 657 and 4 acres of land in 2011, 2010 and 2009, respectively, and has interests in approximately 1,124 remaining acres of land. The assets of the venture in the above table include a cash balance of approximately $797,000 at December 31, 2011. CL Realty has a construction loan secured by a project totaling approximately $1.1 million scheduled to mature in November 2012, which was prepaid in January 2012. CL Realty recorded impairment charges in 2010 and 2009, the Company’s share of which was $2.2 million and $2.6 million, respectively.

During the fourth quarter of 2011, CL Realty adjusted the cash flow projections of each of its assets based on a higher probability that certain assets would be sold in the short term as opposed to being held for development or long-term investment. Based on these cash flow revisions, CL Realty recorded impairment losses in 2011 to record the assets at fair value where undiscounted cash flows were less than their carrying amounts. The Company’s share of the impairment was $13.6 million. In February 2012, CL Realty entered into a contract with its 50% partner, Forestar Realty Inc., to sell all of the venture’s residential projects and the remaining land acreage, with the exception of the Padre Island land holding and the mineral rights related to a certain project. The contract price approximates the adjusted carrying value of the applicable assets, and the venture does not expect a significant gain or loss on this transaction. After this contract closes, CL Realty will own the assets described above, and the Company’s investment in CL Realty is expected to equal approximately $3.4 million.

Cousins Watkins LLC – In 2010, Cousins Watkins LLC was formed between an affiliate of the Company and Watkins Retail Group (“Watkins”) for the purpose of owning and operating four retail centers in Tennessee and Florida. Watkins contributed the properties to the venture, and the Company contributed cash of approximately $14.9 million. Upon formation, the venture obtained four mortgage loans with a total borrowing capacity of $33.5 million, with $28.6 million outstanding at December 31, 2011. The loans bear interest at LIBOR plus a spread ranging from 2.65% to 2.85%. The loans mature January 1, 2016 and may be extended for two, one-year terms, provided certain conditions are met. The Company guaranteed 25% of two of these loans, the maximum amount of which is approximately $4.1 million. The Company assessed the fair value of these guarantees as $40,750. The guarantees will be released if certain metrics at the centers are achieved. The Company receives a preferred return on operating cash flows and is entitled to receive proceeds from capital transactions that equate to a 16% return on its invested capital, prior to Watkins receiving any distributions from capital transactions. The assets of the venture in the above table include cash and restricted cash balances of approximately $513,000 at December 31, 2011.

Temco Associates, LLC (“Temco”) – Temco is a 50-50 joint venture between the Company and Forestar Realty Inc. As of December 31, 2011, Temco owned four single-family residential communities in Georgia with 1,513 remaining lots projected to be developed and/or sold. Temco sold 11 lots in 2011, two lots in 2010, and no lots in 2009. Temco sold 19 acres of land in 2011, did not sell any land in 2010 and sold 42 acres of land during 2009. The venture has interests in approximately 5,800 remaining acres of land. Temco has debt of $2.8 million secured by a golf course at one of its residential developments. This debt matures in May 2012 and carries an interest rate of LIBOR plus 6.5%. In 2009, Temco recorded impairment charges on certain of its residential properties, the Company’s share of which was $631,000.

During the fourth quarter of 2011, Temco adjusted the cash flow projections of each of its assets based on a higher probability that certain assets would be sold in the short term as opposed to being held for development or long-term investment. Based on these cash flow revisions, Temco recorded impairment losses in 2011 to record the assets at fair value where the undiscounted cash flows were less than their carrying amounts. The Company’s share of the impairment losses was $14.6 million. In February 2012, Temco entered into a contract with its 50% partner, Forestar Realty Inc., to sell all of the venture’s residential projects and the remaining land acreage, with the exception of tracts of land in Paulding County, Georgia and the Bentwater Links golf course and related debt. The contract price approximates the adjusted carrying value of the applicable assets, and the venture does not expect a significant gain or loss on this transaction. After this contract closes, the Company’s investment in Temco is expected to equal approximately $2.9 million.

EP I LLC (“EP I”)—On June 28, 2011, EP I was formed between the Company, with a 75% ownership interest, and Lion Gables Realty Limited Partnership (“Gables”), with a 25% ownership interest, for the purpose of developing and operating Emory Point, the first phase of a mixed-use property in Atlanta, Georgia. Operating cash flows and proceeds from capital transactions of EP I are allocated to the partners pro rata based on their percentage ownership interests. Upon formation, the Company contributed approximately $8.1 million in cash and $6.2 million in predevelopment assets, and Gables contributed a total of approximately $3.8 million in cash and other assets. The Company anticipates it will make approximately $6.5 million in additional cash contributions to the venture subsequent to December 31, 2011 for project development. Upon formation, EP I also entered into a construction loan agreement, secured by the project, to provide for up to $61.1 million to fund construction. The venture may select from two interest rate options, as defined in the loan agreement, which are based on floating-rate indices plus a spread. The loan matures June 28, 2014 and may be extended for two, one-year periods if certain conditions are met. The Company and Gables guarantee up to approximately $11.5 million and $3.8 million of the construction loan, respectively. These guarantees may be eliminated after project completion, based on certain conditions.

Crawford Long—CPI, LLC (“Crawford Long”) – Crawford Long is a 50-50 joint venture between the Company and Emory University and owns the Emory University Hospital Midtown Medical Office Tower, a 358,000 square foot medical office building located in Midtown Atlanta, Georgia. Crawford Long has a mortgage note payable with an outstanding balance of $47.6 million at December 31, 2011, a maturity of June 1, 2013 and an interest rate of 5.9%. Upon closing, the net proceeds from the mortgage note were distributed to the partners in accordance with the operating agreement. The amounts distributed to the Company were greater than the Company’s investment balance which created negative equity. The assets of the venture in the above table include a cash balance of approximately $2.3 million at December 31, 2011.

Ten Peachtree Place Associates (“TPPA”) – TPPA is a 50-50 joint venture between the Company and a wholly-owned subsidiary of The Coca-Cola Company, and owns Ten Peachtree Place, a 260,000 square foot office building located in midtown Atlanta, Georgia. TPPA has a mortgage note payable with an outstanding balance of $26.2 million as of December 31, 2011, a maturity of April 1, 2015 and an interest rate of 5.39%. Upon closing, the net proceeds from the mortgage note were distributed to the partners in accordance with the operating agreement. The amounts distributed to the Company were greater than the Company’s investment balance which created negative equity. The assets of the venture in the above table include cash and restricted cash balances of approximately $753,000 at December 31, 2011.

Through August 1, 2011, TPPA historically distributed cash flows from operating activities to the partners up to the additional capital contributions made by the partners over time plus 8% interest. After August 1, 2011, cash flows are distributed 15% to the Company and 85% to its partner until TPPA distributes a total of $15.3 million to the partners. Thereafter, each partner is entitled to receive 50% of the cash flows.

Wildwood Associates (“Wildwood”) – Wildwood is a 50-50 joint venture between the Company and IBM which owns approximately 36 acres of undeveloped land in Wildwood Office Park in suburban Atlanta, Georgia. At December 31, 2011, the Company’s investment in Wildwood was a credit balance of $1.6 million. This credit balance resulted from cumulative distributions from Wildwood over time that exceeded the Company’s basis in its contributions, and essentially represents deferred gain not recognized at venture formation. This credit balance will decline as the venture’s remaining land is sold. The Company does not have any obligation to fund Wildwood’s working capital needs.

TRG Columbus Development Venture, Ltd. (“TRG”) – TRG is 40% owned by 50 Biscayne Ventures, LLC (“Biscayne”), and 60% owned by The Related Group of Florida (“Related”). Biscayne is the limited partner in the venture and recognizes 40% of the income, after a preferred return to each partner on their equity investment and return of capital. Biscayne is 88.25% owned by the Company, and is therefore consolidated by the Company, with the results of operations for the remaining 11.75% interest recorded in noncontrolling interest. TRG constructed a 529-unit condominium project in Miami, Florida. All of the condominium unit sales have closed, although TRG financed the sale of five of these units, for which full profit recognition under accounting guidance has not occurred. The majority of the proceeds from the sales have been distributed to the partners. The assets of the venture in the above table include cash and restricted cash balances of approximately $722,000 at December 31, 2011.

Pine Mountain Builders, LLC (“Pine Mountain Builders”) – Pine Mountain Builders is a 50-50 joint venture between the Company and Fortress Construction Company that constructs homes at three of the Company’s residential communities. During 2011, 2010 and 2009, Pine Mountain Builders sold 8, 14 and 4 homes, respectively. In 2010, Pine Mountain Builders recorded an impairment charge on certain of its assets, the Company’s share of which was approximately $1.5 million.

Additional Information – During the development or construction of an asset, the Company and its partners may be committed to provide funds pursuant to a development plan. However, in general, the Company does not have any obligation to fund the working capital needs of its unconsolidated joint ventures. The partners may elect in their discretion to fund cash needs if the venture required additional funds to effect re-leasing or had other specific needs. Additionally, the Company generally does not guarantee the outstanding debt of any of its unconsolidated joint ventures, except for customary “non-recourse carve-out” guarantees of certain mortgage notes and the CF Murfreesboro, Watkins and EP I guarantees discussed in the related sections above.

The Company recognized $10.1 million, $10.4 million, and $8.9 million of development, leasing, and management fees, including salary and expense reimbursements, from unconsolidated joint ventures in 2011, 2010 and 2009, respectively. See Note 2, Fee Income, for a discussion of the accounting treatment for fees and reimbursements from unconsolidated joint ventures.

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Equity and Stock Based-Compensation (Details 6) (USD $)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Common Stock [Member]
Summary of Components of the taxability of the Company's dividends [Abstract]
Tax status on common stock dividends per share declared	$ 0.180000	$ 0.360000	$ 0.740000
Tax Status of Unrecaptured Section 1250 Gain (A)	$ 0.042574	$ 0.073937
Series A Preferred Stock [Member]
Summary of Components of the taxability of the Company's dividends [Abstract]
Tax Status on Preferred Stock Dividends Per Share Declared	$ 1.937500	$ 1.937500	$ 1.937500
Tax Status of Unrecaptured Section 1250 Gain (A)	$ 0.458393	$ 0.399714
Series B Preferred Stock [Member]
Summary of Components of the taxability of the Company's dividends [Abstract]
Tax Status on Preferred Stock Dividends Per Share Declared	$ 1.875000	$ 1.875000	$ 1.875000
Unrecaptured Section 1250 Gain	$ 0.443606	$ 0.386819
Ordinary Dividends [Member] | Common Stock [Member]
Summary of Components of the taxability of the Company's dividends [Abstract]
Tax status on common stock dividends per share declared	$ 0.067853	$ 0.059447	$ 0.549006
Ordinary Dividends [Member] | Series A Preferred Stock [Member]
Summary of Components of the taxability of the Company's dividends [Abstract]
Tax Status on Preferred Stock Dividends Per Share Declared	$ 0.730053	$ 0.315868	$ 1.290594
Ordinary Dividends [Member] | Series B Preferred Stock [Member]
Summary of Components of the taxability of the Company's dividends [Abstract]
Tax Status on Preferred Stock Dividends Per Share Declared	$ 0.706502	$ 0.305678	$ 1.248962
Long term capital gain [Member] | Common Stock [Member]
Summary of Components of the taxability of the Company's dividends [Abstract]
Tax status on common stock dividends per share declared	$ 0.112147	$ 0.300553	$ 0.190994
Long term capital gain [Member] | Series A Preferred Stock [Member]
Summary of Components of the taxability of the Company's dividends [Abstract]
Tax Status on Preferred Stock Dividends Per Share Declared	$ 1.207447	$ 1.621632	$ 0.646906
Long term capital gain [Member] | Series B Preferred Stock [Member]
Summary of Components of the taxability of the Company's dividends [Abstract]
Tax Status on Preferred Stock Dividends Per Share Declared	$ 1.168498	$ 1.569322	$ 0.626038

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Reportable Segments (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Reconciliation From Segment Totals To Consolidated [Abstract]
Net operating income, including discontinued operations	$ 86,296	$ 88,063	$ 83,220
Fee income, net of reimbursed expenses	18,213	17,830	18,300
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties	5,559	14,366	8,853
Other income	2,130	1,264	3,025
Third party management and leasing expenses, net of reimbursed expenses	(7,826)	(8,100)	(7,750)
General and administrative expenses	(24,166)	(28,517)	(26,198)
Interest expense	(27,784)	(37,180)	(41,393)
Impairment losses	(100,131)	(2,554)	(40,512)
Depreciation and amortization of non-real estate assets	(1,688)	(1,889)	(3,382)
Separation expenses	(197)	(1,045)	(3,257)
Other expenses	(4,436)	(4,416)	(13,143)
Loss on extinguishment of debt and interest rate swaps	(74)	(9,827)	9,732
Funds from operations from unconsolidated joint ventures	(7,355)	19,154	(8,897)
Impairment loss on investment in unconsolidated joint ventures	(608)		(51,058)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(2,087)	(2,540)	(2,252)
BENEFIT (PROVISION) FOR INCOME TAXES FROM OPERATIONS	186	1,079	(4,341)
DIVIDENDS TO PREFERRED STOCKHOLDERS	(12,907)	(12,907)	(12,907)
Funds from operations available to common stockholders	(76,875)	32,781	(91,960)
Real estate depreciation and amortization, including Company's share of joint ventures	(62,709)	(67,728)	(61,205)
Impairment loss on depreciable investment property	(7,632)
Noncontrolling interest related to gain on sale of depreciated investment properties	(2,871)
Gain on sale of depreciated investment properties	8,755	7,467	167,553
NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS	(141,332)	(27,480)	14,388
TOTAL ASSETS	1,235,535	1,371,282	1,491,552
Office [Member]
Reconciliation From Segment Totals To Consolidated [Abstract]
Net operating income, including discontinued operations	61,796	60,646	57,257
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties			276
Other income	1,563	436	286
Funds from operations from unconsolidated joint ventures	11,071	9,863	(11,149)
Impairment loss on investment in unconsolidated joint ventures			(17,993)
Funds from operations available to common stockholders	74,430	70,945	28,677
TOTAL ASSETS	732,857	671,540	650,958
Retail [Member]
Reconciliation From Segment Totals To Consolidated [Abstract]
Net operating income, including discontinued operations	20,917	23,792	24,395
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties	50	4,661	1,841
Other income	87	114	1,431
Impairment losses	(1,730)
Funds from operations from unconsolidated joint ventures	8,712	6,443	6,440
Funds from operations available to common stockholders	28,036	35,010	34,107
TOTAL ASSETS	375,923	348,470	429,099
Land [Member]
Reconciliation From Segment Totals To Consolidated [Abstract]
Fee income, net of reimbursed expenses	105	211	616
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties	3,332	1,076	1,466
Impairment losses	(94,793)	(1,968)
Funds from operations from unconsolidated joint ventures	(27,211)	2,375	(4,091)
Impairment loss on investment in unconsolidated joint ventures	(608)		(27,000)
Funds from operations available to common stockholders	(119,175)	1,694	(29,009)
TOTAL ASSETS	108,172	261,323	273,026
CPS Third Party Management and Leasing [Member]
Reconciliation From Segment Totals To Consolidated [Abstract]
Fee income, net of reimbursed expenses	10,600	9,668	11,838
Third party management and leasing expenses, net of reimbursed expenses	(7,826)	(8,100)	(7,750)
Funds from operations available to common stockholders	2,774	1,568	4,088
TOTAL ASSETS	4,302	4,050	7,291
For-Sale Multi-Family [Member]
Reconciliation From Segment Totals To Consolidated [Abstract]
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties		7,425	5,212
Impairment losses		(586)	(36,500)
Funds from operations from unconsolidated joint ventures		473	(60)
Impairment loss on investment in unconsolidated joint ventures			(6,065)
Funds from operations available to common stockholders		7,312	(37,413)
TOTAL ASSETS		4,564	31,206
Other [Member]
Reconciliation From Segment Totals To Consolidated [Abstract]
Net operating income, including discontinued operations	3,583	3,625	1,568
Fee income, net of reimbursed expenses	7,508	7,951	5,846
Residential lot, multi-family unit, tract and outparcel sales, net of cost of sales, including gain on sale of undepreciated investment properties	2,177	1,204	58
Other income	480	714	1,308
General and administrative expenses	(24,166)	(28,517)	(26,198)
Interest expense	(27,784)	(37,180)	(41,393)
Impairment losses	(3,608)		(4,012)
Depreciation and amortization of non-real estate assets	(1,688)	(1,889)	(3,382)
Separation expenses	(197)	(1,045)	(3,257)
Other expenses	(4,436)	(4,416)	(13,143)
Loss on extinguishment of debt and interest rate swaps	(74)	(9,827)	9,732
Funds from operations from unconsolidated joint ventures	73		(37)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(2,087)	(2,540)	(2,252)
BENEFIT (PROVISION) FOR INCOME TAXES FROM OPERATIONS	186	1,079	(4,341)
DIVIDENDS TO PREFERRED STOCKHOLDERS	(12,907)	(12,907)	(12,907)
Funds from operations available to common stockholders	(62,940)	(83,748)	(92,410)
TOTAL ASSETS	$ 14,281	$ 81,335	$ 99,972

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Property Transactions (Details Textual) (USD $)	11 Months Ended	12 Months Ended
	Nov. 30, 2011 sqft	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Property transactions (Textual) [Abstract]
Square footage of real estate property	775,000
Purchase Price of building	$ 134,700,000
Acquisition costs related to purchase	292,000
Gain on sale of investment properties		3,494,000	1,938,000	168,637,000
Percentage threshold for gain recognition				10.00%
CP Venture Six LLC [Member]
Property transactions (Textual) [Abstract]
Gain on sale of investment properties				$ 167,200,000

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Investment in Unconsolidated Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2011

Investment in Unconsolidated Joint Ventures [Abstract]

Summary of financial data and principal activities of Company's Unconsolidated Joint Ventures

		000000		000000		000000		000000		000000			000000			000000			000000
	Total Assets				Total Debt				Total Equity						Company's Investment
SUMMARY OF FINANCIAL POSITION:	2011		2010		2011		2010		2011			2010			2011			2010
CP Venture IV Holdings LLC	$	301,352	$	313,603	$	36,031	$	36,620	$	255,881		$	267,085		$	14,694		$	15,364
Charlotte Gateway Village, LLC		146,854		154,200		83,097		97,030		62,423			54,834			10,333			10,366
CF Murfreesboro Associates		125,668		129,738		98,922		103,378		24,810			24,263			14,421			14,246
Palisades West LLC		124,588		129,378		—		—		81,635			80,767			42,616			42,256
CP Venture LLC entities		102,178		106,066		—		—		99,942			104,067			3,343			3,779
MSREF/ Cousins Terminus 200 LLC		92,421		65,164		68,562		46,169		17,967			13,956			3,593			2,791
CL Realty, L.L.C.		44,481		86,657		1,056		2,663		42,932			82,534			22,413			39,928
Cousins Watkins LLC		56,096		57,184		28,571		28,850		26,893			28,334			16,321			14,850
Temco Associates, LLC		23,653		60,608		2,787		2,929		20,646			57,475			7,363			22,713
EP I LLC		33,343		—		1		—		29,137			—			24,827			—
Crawford Long—CPI, LLC		32,739		34,408		47,631		48,701		(16,137	)		(15,341	)		(6,873	)*		(6,431	)*
Ten Peachtree Place Associates		22,523		20,980		26,192		26,782		(4,145	)		(6,263	)		(3,679	)*		(4,581	)*
Wildwood Associates		21,224		21,220		—		—		21,221			21,216			(1,639	)*		(1,642	)*
TRG Columbus Development Venture, Ltd.		2,450		3,574		—		—		1,857			2,115			31			58
Terminus 200 LLC		789		789		—		—		789			789			—			—
Pine Mountain Builders, LLC		429		1,559		—		896		153			403			632			757
	$	1,130,788	$	1,185,128	$	392,850	$	394,018	$	666,004		$	716,234		$	148,396		$	154,454

		Septe		Septe		Septe		Septe			Septe			Septe			Septe			Septe			Septe
	Total Revenues						Net Income (Loss)									Company's Share of Net Income (Loss)
SUMMARY OF OPERATIONS:	2011		2010		2009		2011			2010			2009			2011			2010			2009
CP Venture IV Holdings LLC	$	31,020	$	31,343	$	32,698	$	4,008		$	3,955		$	4,555		$	1,054		$	1,034		$	1,142
Charlotte Gateway Village, LLC		32,442		31,812		31,276		8,802			7,829			6,997			1,176			1,176			1,176
CF Murfreesboro Associates		13,081		13,785		12,205		547			1,032			1,474			25			280			539
Palisades West LLC		16,230		13,588		12,677		5,858			4,668			5,303			2,858			2,265			2,588
CP Venture LLC entities		19,061		18,394		18,038		8,459			8,899			8,552			860			921			882
MSREF/ Cousins Terminus 200 LLC		6,093		1,873		—		(3,453	)		(1,967	)		—			(693	)		(393	)		—
CL Realty, L.L.C.		9,141		28,013		2,698		(28,508	)		227			(8,500	)		(11,971	)		3,543			(2,552	)
Cousins Watkins LLC		4,831		—		—		42			(1,072	)		—			2,410			—			—
Temco Associates, LLC		653		2,180		1,420		(37,494	)		210			(2,728	)		(15,074	)		104			(1,357	)
EP I LLC		—		—		—		(6	)		—			—			(4	)		—			—
Crawford Long—CPI, LLC		11,904		11,415		11,324		2,404			1,939			1,784			1,199			969			890
Ten Peachtree Place Associates		7,178		7,776		7,436		1,161			981			718			596			506			375
Wildwood Associates		1		55		—		(155	)		(129	)		(133	)		(77	)		(65	)		(67	)
TRG Columbus Development Venture, Ltd.		26		1,091		506		(7	)		783			30			72			473			115
Terminus 200 LLC		—		533		654		1			55			(82,441	)		—			—			(20,954	)
Pine Mountain Builders, LLC		2,931		6,339		2,143		(250	)		(2,541	)		(254	)		(125	)		(1,316	)		(142	)
Other		—		—		—		—			—			(316	)		3			(4	)		(274	)
	$	154,592	$	168,197	$	133,075	$	(38,591	)	$	24,869		$	(64,959	)	$	(17,691	)	$	9,493		$	(17,639	)

* Negative balances are included in Deposits and Deferred Income on the Balance Sheets.

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Other Assets (Details 2) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Summary of Goodwill
Beginning Balance	$ 5,430	$ 5,450
Allocated to property sale	(275)	(20)
Ending Balance	$ 5,155	$ 5,430

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Description of Business and Basis of Presentation (Details Textual) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011 sqft Property acre	Dec. 31, 2010	Dec. 31, 2009
Description of Business and Basis of Presentation (Textual) [Abstract]
Total Assets	$ 1,235,535	$ 1,371,282	$ 1,491,552
Total Liabilities	595,377	564,142
Description of Business and Basis of Presentation Additional (Textual) [Abstract]
Company's portfolio of real estate assets - Office space	7,800,000
Company's portfolio of real estate assets - Retail space	4,800,000
Interests in residential communities under development or held for future development	22
Strategically located land tracts held for investment or future development and significant land holdings for development of single-family residential communities	5,000
Office and retail space owned by third parties which the Company also provides leasing and/or management services	12,700,000
Callaway [Member]
Description of Business and Basis of Presentation (Textual) [Abstract]
Total Assets	4,900	15,700
Total Liabilities	$ 0	$ 0

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Rental Property Revenues

12 Months Ended

Dec. 31, 2011

Rental Property Revenues [Abstract]

Future Minimum contractual rents receivable

14. RENTAL PROPERTY REVENUES

The Company’s leases typically contain escalation provisions and provisions requiring tenants to pay a pro rata share of operating expenses. The leases typically include renewal options and are classified and accounted for as operating leases. The majority of the Company’s real estate assets are concentrated in the Southeastern United States, specifically in the Atlanta, Georgia, metropolitan area.

At December 31, 2011 future minimum rentals to be received by consolidated entities under existing non-cancelable leases are as follows (in thousands):

		September 30,		September 30,		September 30,
	Office		Retail		Total
2012	$	82,153	$	23,338	$	105,491
2013		81,797		24,228		106,025
2014		79,737		23,350		103,087
2015		73,031		22,789		95,820
2016		65,992		18,942		84,934
Thereafter		268,816		51,106		319,922
	$	651,526	$	163,753	$	815,279