05/12/2021

Carr Properties Expands into Austin, Texas with Acquisition of 100 Congress

The Commercial Real Estate Leader Purchases the Iconic 100 Congress as First Acquisition in the Market

Carr Properties, a leading owner, operator, developer, and acquiror of high-quality commercial properties in the Washington, D.C. and Boston markets, is pleased to announce the purchase of 100 Congress Avenue (“100 Congress”), a 22-story, 419,785 square foot, Class A office tower, located in the heart of downtown Austin, Texas. This acquisition marks Carr Properties’ entry into the Austin market, reflecting the company’s continued focus on strategic growth and investment in innovation markets.

100 Congress is one of Austin’s best and most prominent downtown office towers. Situated on over an acre of land on the corner of Congress Avenue and Cesar Chavez, Austin’s two most sought-after throughfares, 100 Congress overlooks Lady Bird Lake and is within walking distance of local attractions, such as Austin City Hall and ACL Live. This central location immerses customer workplaces in the life, energy, and entrepreneurial vibrancy of downtown Austin.

“We are very excited to expand into Austin, a vibrant innovative market poised for long-term growth with rapid demographic, economic, and market momentum,” said Oliver Carr, CEO of Carr Properties. “Austin’s economic drivers of tech, government, and education will be a strong strategic complement to our existing portfolio in Washington, D.C. and Boston.”

100 Congress is currently 94% leased to a diverse customer roster, including some of Austin’s most prominent employers, such as Google and Jackson Walker, which is the city’s largest law firm. The building allows for a variety of customer layouts, with an average of 20,000 square feet of largely column-free space and 9’ finished ceiling heights. Due to the unobstructed views around nearly all of the building, 100 Congress is considered to have some of the best views in the city.

Carr Properties plans to renovate the building, integrating its signature hospitality-inspired design and services, positioning the building as a market-leading asset with respect to amenities and the workplace experience.

Founded and headquartered in Washington, D.C., Carr Properties expanded into Boston, Massachusetts in 2018. The company now owns or manages over three million square feet of commercial office space in the Boston market, including a joint venture with National Real Estate Advisors and The HYM Investment Group to develop One Congress, a 43-story, one-million-square-foot office tower located in the heart of downtown Boston.