506 Congress Ave, Austin, TX, 78701, US. 25,000 SF, Year built - 1936. The Yarings Building, Ltd. 100% occupied - Single Tenant. 506 Congress Avenue is in the heart of downtown Austin’s vibrant 24/7 central business district. The space is immediately adjacent to Brooks Brothers and in the same block as CVS, Ruth’s Chris Steakhouse, and Keepers Menswear. It is also within a block of Jos. A. Bank, Patagonia, Kenichi, Starbuck’s, The Paramount Theater, Art House and many more of Austin’s most popular shops, restaurants and entertainment destinations. It’s an easy walk to most of downtown’s major office buildings, hotels and the State Capitol.
- HFF has been exclusively retained to offer to qualified investors the rare opportunity to
- acquire 506 Congress (the “Property”), an adaptive mixed-use building totaling 21,776
- square feet on the historic Congress Street in Austin, TX. Originally built in 1936, the
- Property is 100% leased to two office tenants with Broadway National Bank occupying
- the ground floor retail space. With office and retail rents significantly below market and
- a short weighted average lease term remaining, investors have the ability to immediately
- push value via mark-to-market opportunities. 506 Congress’ unrivaled location, valueadd
- potential, and proximity to Austin’s main demand drivers combine to make it one of
- the most compelling mixed-use offerings in the United States.