Riverside Has Purchased Lavaca Plaza in Austin
The 11-story office building at 504 Lavaca St. has been sold to Riverside.
Updated on Oct. 1, 2026 in Commercial
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Riverside has finalized the purchase of Lavaca Plaza, an 11-story office building located at 504 Lavaca St. in downtown Austin. The transaction was facilitated by JLL Capital Markets on behalf of the seller.
Why it matters
The acquisition of this property adds a significant asset to the downtown real estate landscape, highlighting continued investment in the citys central business district.
Lavaca Plaza is an 11-story structure built in 1981 that features 122,042 square feet of total space. The property includes seven floors dedicated to parking and four floors of office space, maintaining a high walk score of 99.
The players
Riverside
Riverside is an investment firm that acts as the new owner of the Lavaca Plaza property.
JLL Capital Markets
JLL Capital Markets is a global commercial real estate services firm that arranged the sale of the building.
The details
JLL Capital Markets managed the marketing and sale of the property, which is situated near notable local landmarks including the Second Street District, the Sixth Street Entertainment District, and Lady Bird Lake.
Timeline
Lavaca Plaza was originally built in 1981.
The sale of the property was announced on October 1, 2026.
Culture Shift
The acquisition aligns with the broader urban density trend in downtown Austin, which integrates 2 million square feet of retail space and 4,300 residential units into the heart of the city. This project follows the development patterns established by the surrounding Second Street and Sixth Street districts.
The ownership change may lead to updates or changes in building management services for current tenants at 504 Lavaca St. Given the high walk score of 99, occupants continue to benefit from immediate access to the surrounding downtown district, retail hubs, and recreational amenities.
The takeaway
Commercial real estate deals in established urban cores often reflect a broader strategy to secure assets with high walkability scores and proximity to cultural districts. Investors typically prioritize properties that integrate office space with existing residential and entertainment infrastructure.
Further reading
For more context on the local property market, visit the Commercial section.
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