KBS has put downtown’s 515 Congress office building up for sale. The Austin high-rise at the corner of Sixth and Congress Avenue was built in 1975. A JLL Capital Markets team consisting of Mike McDonald, Jonathan Napper, Ryan Stevens and Drew Fuller is marketing the 267,956-square-foot, 26-story building.
The Austin Business Journal reports there is no target sale price. KBS purchased 515 Congress in August 2015 for $112.5 million.
The Congress Avenue building is 82% leased to tenants, including WebAI, The Boeing Co., and Cloudera. Metro-wide office vacancy rates in the first quarter of 2026 were 24.5%, a figure that jumped to 28.8%. Additionally, 515 Congress has averaged more than 91% occupancy over the past decade and currently has a weighted-average lease term of 3.4 years.
The post KBS Puts 26-Story Austin Office Tower Up for Sale appeared first on Connect CRE.
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