122K-SF Market at Parmer Sells to Chicago Buyer

Crow Holdings Capital Partners ended its hold on the Market at Parmer on Parmer Lane at Mopac Expressway in Austin. The 122,349-square-foot, H-E-B-anchored center at 12407 N. Mopac Expwy. sold to a Chicago buyer for an undisclosed price.

Chris Cozby, Chris Gerard and Blaine Dozier of CBRE National Retail Partners represented Crow Holdings in the transaction. The center is 95.9% occupied by a mix of national retailers, including Pet Supplies Plus, Anytime Fitness and Twin Liquors.

“Texas, and especially Austin, are experiencing unprecedented population growth, but retail expansion remains well below historic norms. This phenomenon is driving occupancy rates to historic levels in Austin, and in turn, driving significant investor interest in existing shopping centers with below market rents,” Gerard said. “Many of the leases in Market at Parmer were established in previous cycles and are well below market, offering the buyer an opportunity to capitalize on untapped market rent growth at the retail center.”

For comments, questions or concerns, please contact Amy Sorter