{"id":1004074840,"date":"2013-05-24T05:59:21","date_gmt":"2013-05-24T13:59:21","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=130957"},"modified":"2020-05-18T01:00:34","modified_gmt":"2020-05-18T09:00:34","slug":"new-office-tower-to-break-ground-in-downtown-austin","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-office-tower-to-break-ground-in-downtown-austin\/","title":{"rendered":"New Office Tower to Break Ground in Downtown Austin"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Anca Gagiuc, associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">A 29-story office building will break ground in downtown Austin on June 4. The project belongs to Cousins Properties Incorporated, a major player in the city&#8217;s real estate market that has placed a number of important buildings on the Austin skyline, including Palisades West, Frost Bank Tower and the latest purchase\u2014816 Congress.<\/p>\n<p style=\"text-align: justify;\">&#8220;We have a long, successful history in Austin and are very excited about the prospects for Colorado Tower,&#8221; said Larry Gellerstedt, president and CEO of Cousins, in a statement for the press. &#8220;This building\u2014with its great location and best-in-class amenity package\u2014is particularly well positioned to capitalize on the vibrant market in Austin&#8217;s central business district.&#8221;<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/Austin-Office-Q1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-130959\" title=\"Austin Office Q1\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/Austin-Office-Q1.jpg\" alt=\"\" width=\"203\" height=\"300\" \/><\/a>The Colorado Tower will be located in the downtown area at 3<sup>rd<\/sup> and Colorado Streets. It is designed by Duda\/Paine Architects and will deliver 371,000 square feet Class A office space. A top quality fitness facility and modern conference center are among the planned amenities.<\/p>\n<p style=\"text-align: justify;\">The development is being built under the Austin Energy Green Building 2 star program and is expected to be completed by December 2014. Costs for the Colorado Tower have not been disclosed.<\/p>\n<p style=\"text-align: justify;\">Law firms DuBois, Bryant &amp; Campbell and Scott, Douglass &amp; McConnico LLP are the first to sign a pre-lease agreement, occupying 18 percent of the space in the building. Tim Hendricks, senior vice president of Cousins in Austin, considers this \u201ca testament that we\u2019re delivering the right product at the right price point for the customers of downtown.\u201d The developer is in active discussions with other prospective tenants.<\/p>\n<p style=\"text-align: justify;\">Boston based Cousins Properties Incorporated has wide experience in different branches of the real estate business. The company invests in office and retail projects; is active in development, acquisition, financing, management and leasing; and is part of a real estate investment trust (REIT).<\/p>\n<p style=\"text-align: justify;\"> Chart courtesy of <a href=\"https:\/\/www.cbre.com\/EN\/Pages\/Home.aspx\" rel=\"nofollow\" >CBRE<\/a>.<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>A 29-story office building will break ground on June 4. The project belongs to Cousins Properties Incorporated, a major player on the Austin real estate market for over 20 years that placed important buildings on the Austin skyline: the Palisades West, the Frost Bank Tower, and the latest purchase, the 816 Congress.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21742],"tags":[],"class_list":["post-1004074840","post","type-post","status-publish","format-standard","hentry","category-austin","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New Office Tower to Break Ground in Downtown Austin - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/new-office-tower-to-break-ground-in-downtown-austin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Office Tower to Break Ground in Downtown Austin\" \/>\n<meta property=\"og:description\" content=\"A 29-story office building will break ground on June 4. The project belongs to Cousins Properties Incorporated, a major player on the Austin real estate market for over 20 years that placed important buildings on the Austin skyline: the Palisades West, the Frost Bank Tower, and the latest purchase, the 816 Congress.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/new-office-tower-to-break-ground-in-downtown-austin\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-05-24T13:59:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T09:00:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/Austin-Office-Q1.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-office-tower-to-break-ground-in-downtown-austin\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-office-tower-to-break-ground-in-downtown-austin\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"New Office Tower to Break Ground in Downtown Austin\",\"datePublished\":\"2013-05-24T13:59:21+00:00\",\"dateModified\":\"2020-05-18T09:00:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-office-tower-to-break-ground-in-downtown-austin\\\/\"},\"wordCount\":314,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-office-tower-to-break-ground-in-downtown-austin\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/05\\\/Austin-Office-Q1.jpg\",\"articleSection\":[\"Austin\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-office-tower-to-break-ground-in-downtown-austin\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-office-tower-to-break-ground-in-downtown-austin\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-office-tower-to-break-ground-in-downtown-austin\\\/\",\"name\":\"New Office Tower to Break Ground in Downtown Austin - 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