Cool vacant building on South Congress! It's been sold.Cool vacant building on South Congress! It's been sold.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=18402015-01-30T14:12:00Z2015-01-30T07:50:00Z

AUSTIN - An iconic 25,000-sf building built in 1936 at 220 S. Congress Ave. has been sold.

The South Austin brick building once housed Brink's cash handling and security business as well as a commercial garage and a furniture store.

It was purchased by Cielo Property Group, which recently bought the Austin Music Hall.

The three-story building had fallen on hard times in recent years and was sold by an Austin family.

"You couldn't lease it the way it was," said Cielo co-founder Bobby Dillard. "It didn't have any good stairs or an elevator."

Demolition and the construction of infrastructure including stairs, elevator and a new heating, air conditioning and ventilation system will commence quickly, as Cielo hopes to have a tenant in place by summer 2015.

The area is one to watch now that the Hyatt Regency Austin has completed its renovation and parking garage addition and The Catherine high-rise apartment is delivering its first units soon.

The Embassy Suites Austin is across the street. Another apartment is under construction on South First Street around the block.

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2015/01/you-know-that-cool-vacant-building-on-south.htmlRead more at {Source}

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