Parmenter Buys Dallas Office Project, General

In Dallas, Parmenter Realty Partners has reported the purchase of the 7557 Rambler Road office building in Dallas; its 8th investment in the company’s Fund IV. The 14-story, 310,771 sf office building is located off of Walnut Hill near Greenville Avenue in the Central Expressway submarket.

“The Central Expressway submarket is positioned to experience near term growth in absorption and rental rates due to the tightening of neighboring submarkets including Uptown and Preston Center,” said Thom Ridnour, Senior Vice President at Parmenter Realty Partners. “Occupancy in these submarkets stands at 89% and 94% respectively, where rising rental rates are directing tenants into the Central Expressway corridor.”

With this purchase, Miami-based Parmenter Realty Partners now owns and operates over two million sf of office space in the Dallas market.