Parmenter Sells Three-Building Complex

DALLAS—Parmenter Realty Partners has completed the sale of Park Central 7-8-9 to an institutional investor for an undisclosed amount.

Parmenter purchased the 845,919 square foot, class A office complex in 2006 from a subsidiary of JP Morgan as part of its Parmenter Realty Fund III portfolio. The three-building complex is situated in the Park Central submarket of Dallas, at the intersection of Central Expressway and LBJ Freeway.

“During our ownership of Park Central 7-8-9 we made substantial capital investments in the three buildings' aesthetics, interior finishes, and mechanical systems totaling approximately $7 million,” said Steve Bronner, vice chairman of Parmenter Realty Partners. “ParmenterGREEN, the sustainability division of Parmenter Realty Partners, also implemented comprehensive green building practices that earned each building a LEED Gold EBOM certification in May 2011.”

In addition to the three LEED Gold EBOM certifications, Park Central 7-8-9 won the 2009-2010 International TOBY Award in the Renovated Building category, is ENERGY STAR certified, and has BOMA 360 Performance Program designation.

Parmenter Realty Partners is a fully integrated real estate investment, management and development firm, headquartered in Miami, with three regional offices in Dallas, Atlanta and Washington, D.C.