{"id":1004807013,"date":"2026-07-31T02:53:59","date_gmt":"2026-07-31T10:53:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004807013"},"modified":"2026-07-31T02:54:00","modified_gmt":"2026-07-31T10:54:00","slug":"cousins-properties-sells-austin-office-asset-for-208m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cousins-properties-sells-austin-office-asset-for-208m\/","title":{"rendered":"Cousins Properties Sells Austin Office Asset for $208M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a6c9b653f213&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"410\" height=\"512\" data-attachment-id=\"1004807015\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cousins-properties-sells-austin-office-asset-for-208m\/attachment\/5287\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/5287.jpg\" data-orig-size=\"410,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"5287\" data-image-description=\"&lt;p&gt;Proprietary image obtained from Yardi Matrix&#8217;s database.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Cousins Properties had invested $66.4 million in capex for One Eleven Congress as of 2025. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/5287.jpg?w=410\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/5287.jpg?w=410\" alt=\"Exterior shot of One Eleven Congress, an office tower in downtown Austin.\" class=\"wp-image-1004807015\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/5287.jpg 410w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/5287.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 410px) 100vw, 410px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Cousins Properties had invested $66.4 million in capex for One Eleven Congress as of 2025.<em> Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Cousins Properties has sold One Eleven Congress, a 518,385-square-foot office tower in downtown Austin, Texas, for $208 million, according to its latest SEC filing. Canyon Creek Real Estate purchased the asset, as <a href=\"https:\/\/www.bizjournals.com\/austin\/news\/2026\/07\/30\/111-congress-sold-downtown-atx.html\" data-type=\"link\" data-id=\"https:\/\/www.bizjournals.com\/austin\/news\/2026\/07\/30\/111-congress-sold-downtown-atx.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">reported by <em>The Austin Business Journal<\/em><\/a>.<\/p>\n\n\n\n<p>The high-rise\u2019s imminent trade surfaced earlier this year, in Cousins\u2019 first-quarter report. The property was 90.2 percent leased as of March, up 380 basis points compared to the December reading. However, One Eleven Congress was below the average Austin office occupancy across Cousins\u2019 portfolio, which clocked in at 95.3 percent at the end of March.<\/p>\n\n\n\n<p>Proceeds from the sale will partly cover the acquisition of 300 South Tryon, a 638,000-square-foot office property in Charlotte, N.C., that Cousins <a href=\"https:\/\/www.commercialsearch.com\/news\/cousins-properties-pays-318m-for-charlotte-tower\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/cousins-properties-pays-318m-for-charlotte-tower\/\">paid $317.5 million<\/a> for earlier this year. The divestment of Harborview Plaza, a 206,000-square-foot asset in Tampa, Fla., for $39.5 million is likewise expected to cover the Charlotte purchase.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/office-sale-prices-surge-volume-hold-steady\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/office-sale-prices-surge-volume-hold-steady\/\">Office Sale Prices Surge, Volume Holds Steady<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The 1987-built One Eleven Congress had been under Cousins&#8217; ownership since 2016, and since then, the company continued investing in capital improvements. As of 2025, the expenditure reached $66.4 million, including the entrance and facade renovation of 2021, as well as various other interior enhancements throughout the tower.<\/p>\n\n\n\n<p>The 30-story high-rise features 23,500-square-foot floorplates and amenities such as a food hall, conference center and gym, among others. The tenant roster includes Colliers and Strattam Capital, as well as law firms Fish &amp; Richardson and Bracewell.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-downtown-tenant-demand-drives-investment\">Downtown tenant demand drives investment<\/h2>\n\n\n\n<p>Located at 111 Congress Ave., the tower is in Austin\u2019s central business district, a couple of blocks away from 405 Colorado, a 206,000-square-foot trophy office property that Hines <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-pays-151m-for-austin-asset\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/hines-pays-151m-for-austin-asset\/\">acquired for $151 million<\/a> earlier this month.<\/p>\n\n\n\n<p>The downtown area generated outsized demand, capturing nearly one-third of all leasing activity during the first half of 2026, according to a <a href=\"https:\/\/www.cushmanwakefield.com\/en\/united-states\/insights\/us-marketbeats\/austin-marketbeats\" data-type=\"link\" data-id=\"https:\/\/www.cushmanwakefield.com\/en\/united-states\/insights\/us-marketbeats\/austin-marketbeats\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Cushman &amp; Wakefield report<\/a>. Class A properties in the area stood to benefit from the ongoing flight-to-quality <a href=\"https:\/\/www.commercialsearch.com\/news\/office-industry-trends\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/office-industry-trends\/\">office building trends<\/a>, with tenants paying a steep 40 percent premium to occupy such buildings compared to the market average.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm owned the property for a decade.<\/p>\n","protected":false},"author":3471,"featured_media":1004807014,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21783,21742,21747,51973],"tags":[35874],"class_list":["post-1004807013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-investment","category-latest","category-office","category-southwest","tag-cousins-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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