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AUSTIN, TEXAS — For sale: Prime piece of Austin real estate on South Congress, home to "swanky" women’s fashion boutique with adjacent café. Size: 3,110 square feet. Listing price: No disclosed. Serious inquiries only.
The Austin business press is abuzz with news on Tuesday that the property at 1701 S. Congress Ave. has been put up for sale. The building is home to a new flagship store launched by noted fashion designer Kendra Scott.
The Austin American-Statesman and others reported the news breathlessly, the newspaper describing the building being placed on the market as a "rare market opportunity" given the prime real estate corridor on which the edifice is located. Scott’s "swanky" store as a tenant isn’t too shabby a marketing element either, the report suggested.
CBRE, a commercial real estate and investment firm, confirmed the property has been put on the market but did not provide a listing price. A CBRE representative said Kendra Scott will stay put, and that the building owner is selling the asset as part of a realigned investment strategy.
The 3,110-square-foot building built in 1920 sits on a 0.16-acre lot at South Congress and Milton Street, the newspaper reported. The site was previously home to Hill Country Weavers before a renovation last year spearheaded by Austin architect Michael Hsu, the report added.