| "Two Austin office buildings have been purchased by | | | | elegant touch to those walking up to the building. |
| a California company. Triple Net Properties LLC bought | | | | Because of its closeness to the Capitol and because |
| both the 433,024-square-foot property on 816 | | | | of its attractive interior, this office building has often |
| Congress in the downtown area, and Avallon, a | | | | attracted professional service businesses, lobbyists, as |
| 318,217-square-foot set of office buildings in the | | | | well as law firms. At the time of the sale, 76% of the |
| northwest district of Austin. Both properties were | | | | property was leased to 44 tenants. |
| purchased from Crescent Real Estate Equities Co for | | | | The Avallon began construction in 1986 and was |
| $82.5 million. Crescent itself was bought by Morgan | | | | completed in 2001. This Class A office building actually |
| Stanley Real Estate for $6.5 billion. | | | | consists of 5 3-story buildings which encompass 16 |
| The office building at 816 Congress is a very distinct | | | | acres and total almost 316000 ft.² in Austin. The |
| and prized office building in downtown Austin. | | | | five buildings that make up The Avallon are set on a |
| Renovated in 1995 and originally constructed in 1983, | | | | hill, among oaks and fountains. This provides a very |
| this 20 story Class A office tower is very close to the | | | | green environment and offers wonderful views to |
| historic Texas Capitol. Offices on top floors have | | | | tenants. The elegant lobby of the buildings features |
| excellent views of the Capitol, and everyone in the | | | | granite flooring, inset lighting, decorative planters, |
| building enjoys the elegant lobby, with itslimestone | | | | suspended glass panels, marble flooring, and many |
| flooring and walls, polished marble, stylized stainless | | | | other amenities. Tenants of the buildings have access |
| steel planters, attractive lighting, comfortable seating | | | | to property management, on-site security, a top-flight |
| areas, and much more. An outdoor area adds an | | | | workout facility, and many more amenities. |