Parmenter Realty Partners Acquires 7557 Rambler In Dallas, TX

FOR IMMEDIATE RELEASE

Contact: Ellen Wisniewski
Telephone: (305) 379-7500
Email: mediarelations@parmco.com

Parmenter Realty Partners Acquires 7557 Rambler In Dallas, TX

MIAMI, Fla., July 2, 2013 – Parmenter Realty Partners today announced the acquisition of 7557 Rambler Road in Dallas, Texas; its ninth investment in the company’s Fund IV. The 14-story, 310,771 square foot office building is located off of Walnut Hill near Greenville Avenue in the Central Expressway submarket of Dallas, Texas. The building has direct access to the Walnut Hill DART station, and is located less than a ½ mile from Central Expressway.

“The Central Expressway submarket is positioned to experience near term growth in absorption and rental rates due to the tightening of neighboring submarkets including Uptown and Preston Center,” said Thom Ridnour, Senior Vice President at Parmenter Realty Partners. “Occupancy in these submarkets stands at 89% and 94% respectively, where rising rental rates are directing tenants into the Central Expressway corridor.”

7557 Rambler attracts tenants seeking a quality occupancy experience, as well as convenient access to the Park Cities, Preston Hollow, and Lake Highlands neighborhoods. The high quality asset features a number of recent and planned upgrades, providing an opportunity for efficient, top quality space at competitive economics. Currently the building has a 94 Energy Star® rating, and Parmenter Realty Partners intends to pursue LEED™ certification.

“We continue to expand our portfolio in Texas and the Dallas/Ft. Worth Metro since they remain national leaders in population and employment growth,” said Steve Bronner, Managing Principal Southwest Region. “The local economy is one of the most diverse in the country with major players in key long-term growth industries thereby mitigating the market risk against a downturn in any particular industry.”

With this acquisition, Parmenter Realty Partners now owns and operates over two million square feet of office space in the Dallas market.

Parmenter Realty Partners is a real estate investment, management and development company, headquartered in Miami, Florida, with regional offices in Dallas, Atlanta and Washington, D.C. Parmenter operates a series of institutional investment funds focused on the southern and mid-Atlantic regions of the U.S.

# # #

For more information on this topic please contact Parmenter Media Relations by calling (305) 379-7500 or via e-mail at MediaRelations@parmco.com.