501 Congress ‘passes’ to sold in Austin

​AUSTIN – The 501 Congress building — an office building in a prime
downtown Austin location with some high-profile tenants — has been
purchased by AFIAA Swiss Foundation, an investment entity of 40 Swiss
pension funds that focuses on international commercial properties.

The acquisition includes a newly constructed parking garage that adjoins 501 Congress.

The 116,000-sf Class A building formerly was a five-story annex to the adjoining 26-story Bank of America tower.

Stream
Realty Partners gutted the annex into a contemporary building that now
houses cloud file-sharing giant Dropbox Inc.; Charles Schwab;
wine-storage company Vine Vault; Allen Edmonds, a manufacturer and
retailer of men’s footwear; and EMC2 Corp, the world’s largest supplier
of data storage systems.

AFIAA is an investment foundation with offices in Zurich, New York and Sydney.​​