501 Congress Avenue
| Address |
501 Congress Avenue |
| Year of Consturction | 1961 |
| Rentable Space | 11400 m2 |
| Use |
Office / Retail |
The 11,400 m2 office complex “501 Congress Avenue” is situated in a vibrant urban location in the heart of the central business district of Austin, Texas. Congress Avenue, the most well-known street in Downtown Austin, became the city’s main transport axis as early as the 19th century. In addition, the building complex borders on Sixth Street, part of the central entertainment and shopping district. The best hotels in the city are located in the immediate vicinity. The office building, featuring retail spaces on the first floor and an adjoining newly constructed parking garage, was extensively refurbished in 2014/2015. The property, originally built in 1963, was fully refurbished into a Class A office building, spanning five upper floors and an atrium core. A total of 297 parking spaces are available within the building complex. AFIAA views the property, 76.3% of which is currently leased, as a cyclical investment. The multi-tenant structure features long lease terms and is broadly diversified. The main tenant are Dropbox, one of the world's leading providers of cloud file-sharing solutions, as well as EMC2 Corporation, the world’s largest supplier of data storage systems.
