DLA Piper's Relocation Sets Up 12-Year Lease

AUSTIN, TX-Thomas Properties Group Inc. has signed the local office of international law firm DLA Piper to a 12-year lease for 37,315 sf in at Frost Bank Tower, a 33-story office building in the CBD. The 60-employee office will be moved from the suburbs by April.

According to James Montgomery, Austin managing partner at DLA Piper, the firm is relocating to 401 Congress Ave. from 1221 S. Mopac Expwy. to take advantage of the greater convenience and amenities of a location in the heart of Downtown, a few blocks from the Texas State Capitol. “We’re attracted to the vibrancy of Downtown Austin, with its growing number of great restaurants and retail outlets and its access to Lady Bird Lake and residential properties,” he says. “Our firm is looking forward to being in one of Austin’s premier Downtown addresses.”

The lease is the building’s largest one since Thomas acquired the 560,674-sf structure in June 2007. The Los Angeles-based company purchased the property and nine smaller office buildings in Austin from Blackstone Real Estate Advisors of New York City for $1.15 billion, reportedly the largest commercial real estate deal in Texas history.