Cousins Properties Incorporated (NYSE:CUZ) Q4 2022 Earnings Call Transcript

Richard Hickson: Yes. This is Richard. It’s in Atlanta. It’s in November of this year. Their existing square feet about 135,000. So it’s going to be a modest contraction, so call it a 90% of existing space renewal.

Young Ku: Got it. Thanks for that Richard. And then just regarding your guidance for ’23, what kind of retention rates are you guys assuming?

Colin Connolly: This is Colin. We certainly do a customer-by-customer buildup to create our budget. But we’re obviously in active discussions with a lot of different customers and on potential renewals. And so we’ve never publicly shared our retention rates and just don’t want to do anything that could compromise some of the negotiations that we’re in the midst of.

Young Ku: Got it. Okay, that’s fair enough. Thank you.

Operator: It appears there are no further questions. This concludes our question-and-answer session. I would like to turn the conference back over to Colin Connolly for any closing remarks.

Colin Connolly: Thank you all for your time today and interest in Cousins Properties. If you’ve got any follow-up questions, please feel free to reach out to Gregg Adzema or Roni Imbeaux. Hope to see you all soon. Thank you.

Operator: This conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.