Major Leases at New Austin Tower, Market briefs

AUSTIN – , The Republic, a new 48-story downtown tower, has added two major tenants in the last 30 days, a positive indicator for the Austin office market.

The 800,000-SF tower, which was completed late in 2025, is now 73% leased.

National law firm Jackson Walker leased more than 110,000 SF and Virtu, one of the world’s largest high-tech trading and market making firms, leased 55,000 SF.

CBRE represented both Jackson Walker and Virtu in lease negotiations. Virtu was also represented by Sage Realty NYC.

“We’ve secured nearly 600,000 sq ft of high-quality leasing since marketing began on this project, demonstrating the continued demand for best-in-class workspace in Austin and affirming our decision to develop The Republic,” said Costa Petrunoff, Managing Director of Investments at DivcoWest, a San Francisco-based real estate investment firm.

In DivcoWest, Lincoln Property Company and Phoenix Property Company are co, developers of the downtown building, located at 401 W. Fourth St., a few blocks west of Congress Avenue.

A number of tech companies downsized their office footprints in recent years, putting pressure on landlords in downtown Austin, where the 74-story Waterline tower will soon deliver 700,000 SF of office space. But leasing activity has gained momentum again in 2026

Lincoln Property is responsible for leasing efforts at The Republic.

“Austin ranked first for job growth among the nation’s largest metros last year, and The Republic gives companies the location and amenities they need to compete for top talent,” said Seth Johnston, Executive Vice President at Lincoln. “Employers want their teams in the office, and The Republic is the kind of place people actually want to come in to work.”

The Republic was designed by Duda Paine Architects with interiors by Michael Hsu Office of Architecture.

Last month, Hines Global Income Trust purchased downtown Austin’s 405 Colorado office building, which is close to The Republic, for $151 million. That 206,000-SF tower is 100% leased. “We believe the U.S. office recovery is in progress, with demand concentrated in fully leased trophy assets. In office, our strategy involves selectively acquiring best-in-class properties with strong tenants and highly visible income, while maintaining our focus on grocery-anchored retail,” said Alfonso Munk, Global Co-Head of Investment Management at Hines.