San Francisco’s DivcoWest, a DivCore Capital company, is doubling down on downtown Austin. An unnamed "major institutional investor” had tapped the company to manage and oversee three high-profile commercial properties totaling 1.8 million square feet, according to a company press release. The transaction doubles DivcoWest’s portfolio in the Texas capital, making it one of downtown's largest commercial office landlords.
The buildings DivcoWest will operate are:
- Frost Tower, an iconic 533,000-square-foot., 33-story Class A office tower at 401 Congress Avenue,
- 300 West Sixth Street, a modern, 454,000-square-foot, 23-story Class A office tower with LEED Gold designation and 30,000-square-foot floor plates, and
- Plaza Saltillo, a 10-acre mixed-use property in East Austin with 153,000 square feet of office, 118,000 square feet of retail that includes Whole Foods and Target stores, and 703 apartments.
“We’re honored to be selected as a strategic partner and steward these three marquee properties in a market we’ve operated in for many years and know exceptionally well, DivcoWest’s Gregg Walker said. “We look forward to working closely with our partners in the downtown brokerage community as well as with existing and prospective tenants to deliver a quality 24-hour lifestyle environment for Austinites,” Walker added.
DivcoWest is also involved in developing the Republic, an 833,000-square-foot office tower at 401 West Fourth Street, and Sixth and Guadalupe, an office residential tower at 600 Guadalupe Street measuring 1 million square feet.
The company also owns properties at 2010 East Sixth Street and at 2043 South Lamar Boulevard, where it maintains a corporate office.
