309K-SF 300 Colorado Planned by Cousins & Partners for Austin

Cousins Properties of Atlanta, GA is partnering with Riverside Resources and Ironwood Real Estate to develop 300 Colorado. Cousins will have a 50% ownership interest in the 309,000-square-foot, $175-million office tower, which will go north in downtown Austin.

Even better for the partners is that the as-yet unbuilt tower is already 100% pre-leased to independent oil and natural gas company Parsley Energy Inc. and Del Frisco’s. Parsley Energy signed a 12-year, 302,000-square-foot lease, with Del Frisco’s steakhouse taking on the remaining 7,000 square feet in a 10-year lease.

Construction on the project is anticipated to start in December 2018, with delivery targeted for December 2020. 300 Colorado will be developed on a site previously acquired by Ironwood Real Estate in 2006. Ironwood Real Estate, in partnership with Riverside Resources, originally planned to build an upscale residential tower on the site.

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