Wanted: Investment Partner for 100 Congress
- Mar 31, 2016
By Anca Gagiuc, Associate Editor
Austin, Texas—MetLife Investment Management, owner of the 100 Congress trophy office tower in the Austin CBD, is seeking a joint venture partner in the 22-story building. The institutional investment management business of MetLife Inc. has selected CBRE to market the opportunity.
John Alvarado, Russel Ingrum, Gary Carr, Todd Mills and Robert Hill are representing MIM.
The Class AA office tower offers 411,536 rentable square feet and is 95 percent leased to a diversified base of credit-worthy tenants, including law firms Armbrust & Brown, Jackson Walker and Allensworth & Porter.
100 Congress was developed in 1987 and has been managed since by MetLife Investment Management. In 2014, the firm has completed a major renovation “that helps to solidify 100 Congress as one of the best assets in the market”, according to CBRE.
“100 Congress presents a rare opportunity to invest in world-class levels of space and tenancy within the highly coveted downtown Austin market,” said John Alvarado, senior vice president, CBRE. “There truly is no better combination of quality and location—the very essence of core real estate—across the State of Texas.”
Images courtesy of 100 Congress