F1 race organizers, track designers setting up shop in downtown Austin

Downtown Austin is getting two new high-profile tenants: the organizers of the planned Austin Formula One race and Tilke GmbH, the German engineering firm that's designing the F1 track scheduled to open in 2012.

Both tenants will occupy space in 301 Congress, a 22-story building owned by Houston-based Hines and the California Public Employees Retirement System pension fund.

The local Formula One group has signed a lease for 3,010 square feet on the second floor, where local promoter Tavo Hellmund has moved in.

Peter Wahl, managing partner of Tilke, said last week that Tilke's office would be down the hall from Hellmund's group. Wahl said he didn't know exactly how many people — perhaps six to eight — would be working at the Tilke office. Tilke is leasing 1,000 square feet.

Travis Dunaway with Endeavor Real Estate Group represented the tenants in the lease transactions. Chad Barrett with Aquila Commercial LLC represented the landlord.