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The Republic In Austin Leases 165,000 SF To Law Firms Kirkland & Ellis And O’Melveny and Myers

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LEASED

Texas

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Office165,000 SF
Leased 04/29/2024
the dealdetailscomps
Property Image
LEASED

The Republic In Austin Leases 165,000 SF To Law Firms Kirkland & Ellis And O’Melveny and Myers

401 West 4th Street

See Similar Deals
Office165,000 SF
Leased 04/29/2024
the dealdetailscomps

Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:165,000 SF
Transaction Type:Lease

The Republic, a major office tower located at 401 West 4th Street in Austin, consists of 165,000 square feet of office space. Developed by Lincoln Property Company, Phoenix Property Company, and DivcoWest, the property offers unique amenities including floor balconies, a large indoor-outdoor space, and direct access to Republic Square.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Landlord: Clay Duvall - Lincoln Property Company; Blake Pogue - Phoenix Property Company; Stuart Shiff - DivcoWest
  • Tenant: Jon A. Ballis - Kirkland & Ellis; Katie Coleman - O’Melveny and Myers

The leasing deal at The Republic involved Jon A. Ballis representing Kirkland & Ellis and Katie Coleman representing O’Melveny and Myers. Despite the competitive office market in Austin, the modern design and amenities of The Republic have attracted tenants, enhancing its occupancy to nearly 50%.

Details

LEASED
IMAGE: Clay Duvall, Stuart Shiff, Jon A. Ballis & Katie Coleman DATE: 04/29/2024 ADDRESS: 401 West 4th Street MARKET: Austin ASSET TYPE: Office ~ SF: 165,000 LANDLORD: Clay Duvall - Lincoln Property Company (@LincolnPropertyCo); Blake Pogue - Phoenix Property Company; Stuart Shiff - DivcoWest TENANT: Jon A. Ballis - Kirkland & Ellis; Katie Coleman - O’Melveny and Myers (@OMelvenyMyers) NOTE: The Republic, a major office tower in downtown Austin, leased 165,000 square feet to law firms Kirkland & Ellis and O’Melveny and Myers, bringing its occupancy to nearly 50%. Developed by Lincoln Property Company, Phoenix Property Company, and DivcoWest, The Republic offers unique amenities including floor balconies, a large indoor-outdoor space, and direct access to Republic Square. Despite Austin's competitive office market, The Republic's modern design and amenities are attracting tenants amid increased supply and changing tenant preferences.

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Deal Type
Effective Rent (Annual)

$9,457,700.43

Total Lease Value

$94,577,004.32

Net Landlord Cash Flow$9,457,700.43