Cousins Properties is developing the 16-story, 420,000-sf building. The estimated hard construction cost is $63 million. Cox will also build a 90,000-sf attached commons building, which will include a glassed entry rotunda, cafeteria, 11,000-sf fitness area, conference and training center, auditorium, and museum.
The property, purchased by Cox from Equitable Life Assurance Society in August 1999, is zoned to accommodate office space beyond the current project. The building is scheduled for completion in February 2002 when the first phase of employee movein will begin.
The relocation should be completed by July the same year. The movein will affect 690 employees. The tower will house 1,030 workers. The new building will serve as headquarters for Cox Enterprises and other Cox-owned businesses, including Cox Broadcasting, Cox Newspapers and Manheim Auctions, the auto auction company.
The Cox Communications division will remain at the Lake Hearn site but the company's intown operations--the Atlanta Journal-Constitution newspaper, radio and TV stations and Cox Interactive Media--will remain at their current locations.
Cox Enterprises has doubled in size since 1995 and expects to double again in the next five years, a company spokesman tells GlobeSt.com. Cox reported $6.1 billion in revenue for fiscal 1999 and anticipates reaching $8 billion at the close of FY 2000.
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