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NOI Net Operating Income N/A
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Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

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Property Description

Jones Lang LaSalle ("JLL"), is pleased to exclusively present the outstanding opportunity to acquire Congress Commons (the "Property), a 100% leased, 50,244 square foot asset situated on Congress Avenue between 3rd and 4th Streets in Austin, Texas. The Property is a recently renovated, three-story Property including creative-office space leased to Accenture (S&P: A+) and service-oriented ground floor retail with a 6.3-year WALT. Located in the heart of Downtown Austin, Congress Commons provides tenants with tremendous walkability to a world-class amenity base with more than 190 dining, 140 entertainment, and 135 retail options in Austin's dynamic city center. The Property's irreplaceable infill urban location and exceptional tenancy coupled with Austin's explosive growth provide investors with a rare opportunity to invest in Austin's core.

Investment Highlights

PREMIER MIXED-USE WITH A HIGHLY COVETED CONGRESS AVENUE ADDRESS

• Located in the heart of Austin's Downtown on the "Main Street of Texas"

• One of the most sought-after areas with one of the most walkable retail and entertainment districts in Texas, boasting a Walk Score of 99

• Accessible from Austin's trendiest spots, including the Capitol Complex, Rainey Street District, and East Austin 


OUTSTANDING TENANCY

• Accenture (S&P A+, NYSE: ACN) and One Medical (NYSE: ONEM) contributing to 65% and 14% of the NOI, respectively

• Diverse combination of service-oriented retail tenants, including Sushi Junai, Swift's Attic, and Elephant Room accounting for the remaining ~20% of the Property's income


TECH CENTRIC CREATIVE OFFICE ENVIRONMENT

• Tech centric location drawing notable employers including Facebook, Google, Indeed, and Box to Downtown Austin's creative vibe and ability to attract top talent

• The Central Business District office market in Austin is one of the country's most robust office markets, with Class A vacancy and rental rates at 7.5% and $38.43 PSF NNN, respectively

Last Updated Date: 10 Jun 2021
Ryan Shore
Ryan Shore
Senior Managing Director, Capital Markets
License details
TX-0469819
Kelsey Shebay
Kelsey Shebay
Managing Director, Capital Markets
License details
TX-566770

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Last Updated Date: 10 Jun 2021

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