The properties are the 1.25-million-sf, 100%-leased Bank of America Plaza in Downtown Atlanta and the 530,000-sf, 33-story Frost Tower in Austin, TX. Locally based Cousins Properties Inc. and Bank of America are 50-50 partners in the ownership of the 1,023-foot tall Bank of America Plaza. Prudential Insurance Co. of America owns a 10% interest in Frost Tower; Cousins owns 90%.

Sale plans for the properties were announced May 4 by Cousins president and CEO Tom Bell.

The properties are being sold because their owners estimate their aggregate value has been maximized over the past 14 years, Matt Gove, Cousins' vice president of communications, tells GlobeSt.com. However, Gove tells GlobeSt.com, "if we don't get the type of pricing we expect on the quality of these projects," the properties will be taken off the market. Gove says he doesn't expect that will happen.