Music Lane

Urban Mixed-Use / Austin, TX

Off-market assemblage of two acres on South Congress Avenue, in Downtown Austin; development and lease-up of transformative project anchored by Soho House, Gensler, Deloitte, and Lululemon.

Acquisition Sourcing

Off-market assemblage of six separate sites, totaling two acres, that included multiple acquisitions and long-term ground leases with purchase options.

Capital Structuring and Deal Execution

Recapitalized debt and equity with permits secured, construction contract in place, and anchor tenant signed.

Planning, Design, and Development

Designed and developed best-in-class project featuring three distinct 3-4 story buildings set amid curated streetscapes and paseos and comprising of 163,000 square feet of office, retail, and hospitality uses.

Leasing, Marketing and Branding

Leasing to best-in-class tenants including Soho House, Equinox, Gensler, Deloitte, Hermes, Nike, Alo Yoga, Lululemon, Aba (Lettuce Entertain You), Everlane, Sweetgreen, Le Labo, Parachute, Loveshack Fancy, and several others*.

Capital Event/Disposition

Recapitalized debt and equity with institutional capital partner and lender both prior to construction commencement and upon completion of construction and lease-up.

* Equinox, Hermes, Nike, Alo Yoga, and Sweetgreen are a part of Turnbridge's broader South Congress development.

Address
1009-1011 South Congress Avenue Austin, TX
Submarket
South Congress
Asset Class
Mixed Use
Strategy
Land Assemblage, Placemaking
Size
163,000 square feet
Date Acquired
January 2016
Date Sold
Currently owned by Turnbridge; recapitalized in April 2017 and February 2020