Cousins Properties is bringing One Eleven Congress to market, positioning one of Austin’s largest office towers for a change in ownership. The 30-story building, completed in 1987, totals 503,344 square feet and ranks as the seventh-largest office tower in the city. A sales price has not been disclosed.
One Eleven Congress is a prominent downtown office asset and has maintained a solid tenant base in recent years. As of June 2025, the property was 84% leased, indicating a relatively high occupancy level for a large, multi-tenant office tower. The lease-up profile provides incoming ownership with an established rent roll while still allowing room for future leasing initiatives.
The property is also notable for its food and beverage offering at Fareground, the on-site food hall located at One Eleven Congress. Fareground features a collection of dining concepts, including Austin Rotisserie, Ciccio Bomba, Desnudo, Four Brothers, Taco Pegaso and other vendors. This amenity component positions the tower as both a workplace and a destination for dining in the surrounding area.
The planned sale of One Eleven Congress follows significant recent investment activity by Cousins Properties in Austin’s office market. According to reporting cited in the article, the company spent $522 million in December 2024 to purchase Sail Tower, a downtown office building that was delivered in 2023. That acquisition underscored Cousins’ appetite for modern Class A office product in Austin’s core business district.
Cousins remains one of the largest commercial building owners in the Austin area. The company controls 21 buildings in the market, totaling approximately 5.9 million square feet. Its portfolio includes several office buildings in The Domain, along with downtown assets such as 300 Colorado and Colorado Tower, among others.
By moving to sell One Eleven Congress while maintaining a sizeable footprint elsewhere in the city, Cousins is adjusting the composition of its Austin holdings rather than exiting the market. The transaction, once completed, will transfer a sizable and well-leased downtown office building to a new owner, while Cousins continues to operate as a major institutional landlord across multiple submarkets in the region.
