AUSTIN--Parmer 6.2, a 292,000-square-foot office/flex building, has been acquired by Casa Marco (through CM Texas II LLC). With the transaction, Karlin Real Estate has closed out its one million-square-foot Phase 1 of PARMER Technology and Office Park with the sale.

Located at 301 Howard Lane, the building is one of three similarly sized institutional-quality buildings that make up PARMER's fully occupied first phase, known at Sector 6. 

"We are one of the few alternatives in Austin for corporate users with large contiguous space requirements,” Karlin vice president Vicky Canto-Ponce told GlobeSt.com. "As a result we continue to receive tremendous interest from companies here in Austin who need to expand, as well as those other from other parts of the country who want to establish a foothold here and benefit from the city's creative culture and educated work force.”

Karlin acquired the buildings from Dell in December 2012 when the computer-maker moved to consolidate its operations to a 350-acre complex in Round Rock. Since then, the Los Angeles-based investor has been able to backfill 100 percent of the vacant buildings with a variety of Fortune 500 and privately held companies including GM, Allergan and Met Laboratories.

Earlier this month, Karlin announced the sale of Parmer 6.1,a 302,000-square-foot office/flex building at 13201 McCallen Pass to GM, which the automaker will use as office space to complement its existing Austin IT Innovation Center.  In 2013, Casa Marco (through CM Texas LLC) acquired from Karlin Parmer 6.3, a 301,000-square-foot building at 201 Howard Lane for use by its related companies Marco Fine Arts and Gemline Frame Co. The laboratory building at 13501 McCallen Pass was sold to Baltimore, MD-based MET Laboratories earlier this year.

Marco's recent acquisition is currently 80 percent leased to Allergan and Brown Traffic Products, Inc. Casa Marco subsidiary Permalite Inc. will occupy the remaining space at 301 Howard. 

“Companies like GM, Allergan, Met Labs and Marco Fine Arts are just the beginning at PARMER, and are creating a best in class technology and life science park in Austin,” says CBRE's Mark Emerick who along with John Barksdale represented both parties in the transaction. 

The 400-acre technology and office park is being developed by Karlin and Dallas-based Trammell Crow Co. (TCC), which is acting as master developer. In addition to the ongoing development of the park's infrastructure and amenities, Karlin and TCC are completing the first phase of new office construction at PARMER, with Parmer 3.2, a three-story, 192,000-square-foot office building. Karlin/TCC have plans to break ground on the sister building, Parmer 3.1 later this year.  Both buildings are designed for single- or multi-tenant occupancy, and will feature 64,000-square-foot floor plates.