Downtown Austin Tower Sold for $208 Million, Market briefs

In Austin, The 111 Congress Avenue building in downtown Austin has been sold for $208 million or about $400 per SF, as stated by the seller, Cousins Properties.

The 30-story tower was purchased by Canyon Creek Real Estate of Fort Worth. The seller is Cousins Properties, an Atlanta-based REIT. Eastdil Secured handled the deal.

Built in 1987, the 519,000-SF building is 84% leased.