Canyon Creek Real Estate Acquires 533,711-SF One Eleven Congress Tower in Downtown Austin

Canyon Creek Real Estate has acquired One Eleven Congress, a 533,711-square-foot, 30-story Class A office tower at 111 Congress Avenue in Downtown Austin, the firm announced Aug. 6. The transaction marks Canyon Creek's first entry into the Austin market as the investment firm looks to grow its regional portfolio. The seller and financial terms were not disclosed.

Stream Realty Partners Expands Role at One Eleven Congress

Stream Realty Partners, which had been providing leasing services at the property prior to the sale, will continue in that capacity and has expanded its assignment to include property management. Amanda Coupe, Stream's Regional Managing Director of Property Management, will lead the property management assignment. Rachel Coulter, Managing Director, will continue leading leasing efforts at the tower.

"We are excited to expand our relationship with Canyon Creek at One Eleven Congress through Stream's property management services while continuing to support the property's leasing efforts," Coupe said. "One Eleven Congress is one of Austin's most recognizable and sought-after business addresses, and we look forward to partnering with Canyon Creek to build upon the property's strong foundation. Guided by our hospitality-led approach to property management, our team is focused on delivering an exceptional tenant experience while supporting the property's continued long-term success."

Property Overview and Location

One Eleven Congress sits at the gateway between Austin's Central Business District and the waterfront, providing direct access to the city's business core while remaining steps from Lady Bird Lake, the hike-and-bike trail, restaurants, hotels, and entertainment venues. The 30-story tower offers panoramic views of Downtown Austin, Lady Bird Lake, and the Texas Hill Country.

The property's amenity package includes a food hall with seven local eateries and two bars, a conference center, a fitness center, a bank with an ATM, 24-hour security, and controlled building access.

The surrounding area has seen significant investment activity, with nearby projects including Waterline, Confluence, the Rainey Street District, new hospitality developments, and public realm improvements that are further connecting Downtown Austin to Lady Bird Lake.

Canyon Creek's Austin Market Entry

Canyon Creek Real Estate specializes in Class A office buildings. Ron Welborn, Partner at Canyon Creek, described the acquisition as a strategic foothold in a market the firm intends to grow within.

"One Eleven Congress is a well-established and highly regarded property that provides Canyon Creek with an exceptional entry into the Austin market," Welborn said. "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. We also look forward to continuing to invest in Austin as we identify additional opportunities to grow our portfolio."

Stream Realty Partners is a national commercial real estate firm with more than 1,550 professionals that completes annual transactions valued at more than $11.5 billion across office, industrial, retail, healthcare, land, and data center properties.

Market Context

Austin's office market has faced pressure from elevated vacancy and tenant demand that has increasingly favored newer, high-amenity space. Against that backdrop, the new ownership's decision to pair an established leasing team with expanded property management services points to a strategy centered on tenant retention and asset stabilization. One Eleven Congress's waterfront adjacency, hospitality-style amenities, and proximity to active downtown redevelopment nodes reflect the positioning that has continued to attract private capital to well-located CBD assets.

For more information, contact Stream Austin at 512.481.3000.

Sources

Stream Realty Partners — Canyon Creek Acquires One Eleven Congress in Downtown Austin (Aug. 6, 2026)