November 9, 2016
Brickman acquired the 181,381-square-foot 823 Congress office building in Austin, TX from Cielo Property Group. The New York-based buyer paid $63 million for the property, which delivered in 1970. Eastil Secured handled the transaction.
The 15-story building is near the State Capitol, and the tenant roster includes the Texas Tribune, Texas Mortgage Bankers Association and IBM Corp. Brickman is no stranger to Austin, having acquired Lavaca Plaza in 2012. During the hold period, Brickman invested $1.5 million to renovate the building, and leased it up.
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