AUSTIN, TEXAS — Canyon Creek Real Estate has acquired One Eleven Congress, a 533,711-square-foot office tower located in downtown Austin, for $208 million. Eastdil Secured represented the seller, Atlanta-based Cousins Properties (NYSE: CUZ), in the transaction.
“One Eleven Congress is a well-established and highly regarded property that provides Canyon Creek with an exceptional entry into the Austin market,” says Ron Welborn, partner at Canyon Creek. “We are excited to build upon the property’s strong reputation by enhancing the tenant experience and creating an environment that continues to meet the evolving needs of both existing and future tenants.”
Built in 1987, One Eleven Congress is a 30-story building that’s situated at the gateway between Austin’s Central Business District and the Lady Bird Lake waterfront. According to the Austin Business Journal, the office tower was 84 percent leased as of June 2025, with tenants including RigUp, Disco, Husch Blackwell LLP and Wells Fargo.
The building also features Fareground, a ground-floor food hall with restaurants such as Austin Rotisserie, Ciccio Bomba, Desnudo, Four Brothers and Taco Pegas, among others. ELM Restaurant Group managed Fareground upon its initial opening in January; Richard Sandoval Hospitality took over management after the September 2021 opening. Additional amenities include a bank, conference center, fitness center, 24-hour security and controlled building access.
Stream Realty Partners will continue to provide leasing services for One Eleven Congress for the new ownership, while expanding its role to include property management.
Formed in 2025, Canyon Creek Real Estate is a private commercial real estate investment firm based out of Fort Worth, Texas, that targets value-add office properties across Texas and the Sunbelt.
Cousins Properties owns and manages a portfolio consisting of 42 properties, representing approximately 20.6 million square feet of office space and 467,000 square feet of additional commercial space. In addition to One Eleven Congress, Cousins owns Sail Tower, Colorado Tower and San Jacinto Center in Austin.
The company’s stock price closed at $30.16 per share on Thursday, Aug. 7, up from $27.03 a year ago, a nearly 11.6 percent increase.
— Abby Cox