Investment firm plans Charlotte regional headquarters

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Atlanta-based Cousins Properties Inc. said it will develop Dimensional Fund Advisors’ new 229,000-square-foot regional headquarters in Charlotte.

“As we plan for the future, our new regional headquarters will enable us to enhance the services we offer our clients and provide state-of-the-art facilities for conferences and meetings, benefiting both our clients and our employees,” said David Booth, chairman and co-CEO of Dimensional, an investment firm based in Austin, Texas.

Cousins and Dimensional formed a 50/50 partnership to develop the regional headquarters and subsequently closed on a 2.3-acre building site in Charlotte’s South End.

The site is a triangular parcel at Camden Road, South Tryon Street and West Park Avenue.

Dimensional signed a 15-year lease to take 100 percent of the office space. Construction is expected to begin in the fourth quarter of 2016 and be completed in 2018.

“Cousins and Dimensional have a long-standing relationship that began when we developed their global headquarters in Austin in 2005,” said Larry Gellerstedt, president and CEO of Cousins Properties. “We are honored to partner with them once again on their regional headquarters in Charlotte.”

Dimensional has 12 offices in eight countries and global assets of about $388 billion under management as of Dec. 31.

Cousins is a self-administered and self-managed real estate investment trust. The company invests primarily in Class-A office assets in high-growth Sun Belt markets, with a focus on Georgia, Texas and North Carolina.