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