AUSTIN - The six-story office building under construction at East Fifth St. and Congress Ave. in downtown Austin has landed its biggest tenant — Dropbox.
San Francisco-based Dropbox will lease about 60,000 sf — the top three floors of the new building called 501 Congress.
In February, the Austin City Council voted for an incentive deal for Dropbox totaling $244,500 over ten years. Under the agreement, Dropbox must create 170 jobs during that time with an average annual salary of $59,000 and make a $5.5 million capital investment.
Stream is developing and leasing 501 Congress, which is being built at a cost of more than $30 million.
Dropbox — a cloud-storage and file-sharing service with more than 275 million users — plans to move into the building when it opens in January 2015.
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