HFF Austin Hires John Taylor as Managing Director of Investment Sales

HFF announced today that John Taylor has joined the firm as a managing director in its Austin office to focus on investment sale transactions in Austin and San Antonio, Texas. Mr. Taylor joins HFF from Jones Lang LaSalle, where he was a senior vice president and leader of the capital markets group for Central Texas. Prior to that, he worked in the capital markets groups at Trammell Crow and CBRE. During the course of his career, Mr. Taylor has closed more than $1 billion in office, industrial, NNN, data center, retail and medical office transactions.

Construction Begins on Colorado Tower in Austin, Texas

Cousins Properties has commenced construction on Colorado Tower, a 371,000-square-foot, Class-A office development in Downtown Austin, Texas. The 29-story building, designed by Duda/Paine Architects, will be the first high-rise tower built in Austin since Cousins developed Frost Bank Tower in 2003. The formal ground breaking ceremony is scheduled for June 4th. “We have a long, successful history in Austin and are very excited about the prospects for Colorado Tower,” said Larry Gellerstedt, President and Chief Executive Officer of Cousins.

Austin High-Rise Office Building Sold for $103.5 Million

Atlanta-based Cousins Properties Inc. has agreed to acquire the 20-story high-rise office building at 816 Congress in Austin, TX from Thomas Properites. The gross purchase price for the 434,000 square foot Class A office property is reportedly $103.5 million. After credits for outstanding tenant improvements, lease commissions and rent abatements the net purchase price is $101.5 million. 816 Congress was built in 1984 and features a native granite exterior and a plaza entrance that leads to rich lobby finishes of granite, limestone and marble. It was renovated in 1994 and is 78 percent leased.