AUSTIN, TX-CBRE's National Retail Investment Group has completed the sale of The Market at Parmer Lane on behalf of LPC Retail, a division of Dallas-based Lincoln Property Company. The buyer is a Texas-based private real estate fund advised by Crow Holdings Capital Partners. The retail asset was purchased for an undisclosed price.
The Market at Parmer Lane is a 122,349-square-foot, 93.3%-occupied retail center anchored by H-E-B Grocery. It is situated in north central Austin at the southeast corner of Parmer Lane and MoPac Expressway.
CBRE SVP Chris Cozby and first VP Chris Gerard, based in Dallas, and VP Kevin Holland, based in Houston, represented the seller.
CBRE Group, Inc., headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2012 revenue). The company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide.
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