Parmer McNeil Buy is Part of Long View Equity’s Newest Fund
Parmer McNeil Plaza was built in 2005, and has a tenant mix including Chase Bank, Starbuck’s, Wells Fargo and several local restaurants. Its location is at the intersection of Parmer Lane and McNeil Drive in Austin, directly across from Apple Inc.’s new $1 billion campus.
Long View Equity recently acquired the 47,888-square-foot Parmer retail development. The acquisition is part of the company’s newest fund, Long View Equity Partners IV.
Fund IV builds on the success of its prior funds, and the company seeks to construct a diversified portfolio of industrial, office and retail properties located predominately in major Texas metro markets.
“Its addition will provide stability of cash flows while allowing us to invest in one of the most desirable submarkets of Austin dominated by some of the world’s most admired technology companies including Apple, Ebay, PayPal and Oracle,” says Daniel Campbell, managing director. “We expect this area to continue to grow with the development of Robinson Ranch and are excited about what the future holds for this project.”
Colin Tierney and Taylor Golden with Gold Tier Real Estate represented Long View Equity and Nick Naumann with the Weitzman Group represented the seller.