Sale of iconic mixed-use asset in Austin's historic South Congress District closes

DALLAS, June 24, 2024 - JLL Capital Markets announced today that it closed on the sale of Saint Vincent, an iconic, mixed-use trophy asset totaling 21,185 square feet located in the heart of the South Congress District of Austin, Texas.

JLL represented the seller and procured the buyer.

Built in 2018, the mixed-use property is 100% leased to a curated tenant mix including retail tenants King Ranch Saddle Shop, Madewell, Marine Layer, Howler Bros and Garrett Leight, as well as credit office tenant John Deere.

Located at 1329-1333 South Congress Ave, Saint Vincent is at the nexus of Austin's live, work and play lifestyle with immediate access to downtown employment hubs and prominent neighborhoods. The property also anchors Austin's only truly walkable strip of shopping and entertainment venues, contributing to its status as one of the strongest retail destinations in the country.

Additionally, the South Congress micro-market has consistently maintained retail occupancy levels above 95% for the past decade, driven by the scarcity of substantial contiguous space with street frontage and limitations on future development.

JLL's Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard and Ryan West, Directors Erin Lazarus and Shea Petrick, Associate Megan Babovec and Analyst Ben Pollack.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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