Buyer in place for Sixth and Congress propertyBuyer in place for Sixth and Congress propertyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=78822013-03-22T06:58:00Z2013-03-22T07:00:00Z

AUSTIN - Property at Sixth and Congress — one of downtown Austin’s highest-profile addresses — is about to change hands, with plans taking shape to create new top-tier office space at the site. The prime block is bounded by Congress, Fifth, Sixth and Brazos streets.

Stream Realty Partners is expected to close on the purchase in mid April.

The block consists of five parcels totaling 2.3 acres at the southeast corner of Congress and Sixth, plus a half-block directly east on Fifth St. between Brazos and San Jacinto Blvd.

The site includes the 26-story Bank of America tower. Stream will continue to operate the 256,911-sf tower, which is 90 percent leased, as an office building.

The adjacent vacant annex building at 501 Congress will be remodeled into a contemporary five-story building with 112,000 sf of first-class office space and a rooftop deck.

An existing valet parking garage will be torn down and replaced by an eight-story parking garage with 300 spaces. That garage structure will also include 5,500 sf of street-level retail space. The office building and parking garage are both due to be completed in June 2014.

The site also includes the nine-story Littlefield parking garage with 535 spaces, plus 24 apartments and 30,000 sf of retail space.

Read more at the Austin American-Statesman.

Austin American-Statesman
Austin-Round Rock
http://www.statesman.com/news/business/buyer-in-place-for-high-profile-sixth-and-congress/nwwdm/Read more at {Source}

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