A recent addition to Austin’s skyline is getting a new owner.

Cousins Properties announced it is acquiring the building that's shaped like a sail in Downtown Austin for more than $521.8 million.

The 35-story, 804,000-square-foot property at 601 W. Second St. is fully leased to Google and was developed in 2022.

According to the Austin American-Statesman, the sale is expected to close this month and will be the largest purchase of an office property in Austin this year.

After the pandemic, Google delayed moving workers back into the building, which has led to vacancies in Downtown Austin.

The sail building is located close to Cousins’ existing downtown properties, which include 17 million square feet and are 93% leased.

"We are thrilled to add this iconic office property, with a strong investment grade customer, to our Austin portfolio," said Colin Connolly, president and chief executive officer of Cousins Properties, in a media release. [...]

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