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Downtown Austin Trophy 100 Congress Up for Sale
Cushman & Wakefield has the listing for 100 Congress, a 22-story, 411-536-square-foot office tower in downtown Austin, according to the Austin American-Statesman. Owned by a joint venture of MetLife Inc. and Invesco Ltd., the tower is 95% leased.
There is no minimum bid for 100 Congress, Cushman & Wakefield vice chairman Mike McDonald told the Statesman. It’s appraised at $295.5 million, but McDonald said he expects the building to sell “well in excess of that.”
“All eyes will be on this property, as it is the first one to come to market since the pandemic started,” said HPI Real Estate Services and Investments’ Sam Houston. “If it goes well, then we are likely to see another 10 to 12 buildings come to market in the last few months of the year. If it doesn’t, then I would not expect many sales to occur for the balance of the year.”
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- ◦Sale/Acquisition
