Casa Marco Joins GM at Parmer Park
- Aug 10, 2015
By Anca Gagiuc, Associate Editor
Los Angeles-based Karlin Real Estate has closed out the 1 million-square-foot first phase of Parmer Technology and Office Park with the sale of Parmer 6.2.
The 292,000-square-foot office/flex building has been acquired by Casa Marco through CM Texas II L.L.C. CBRE’s Mark Emerick and John Barksdale represented both parties in the transaction; terms of the deal remain undisclosed.
Located at 301 Howard Lane, Parmer 6.2 is one of three similarly sized, institutional-quality buildings that constitute Parmer’s Sector 6, which is now fully occupied. The development was under Dell’s ownership until December 2012 when Karlin acquired it. Since then, Karlin has backfilled 100 percent of the vacant buildings with several Fortune 500 and privately held companies including Allergan, Met Labs, and, most recently, General Motors. Earlier this month, GM acquired Parmer 6.1, a 302,000-square-foot building located at 13201 McCallen Pass.
Parmer 6.2 is not Casa Marco’s first purchase from Karlin. In 2013, an affiliate acquired the 301,000-square-foot Parmer 6.3 at 201 Howard Lane for Marco Fine Arts and Gemline Frame Co. Parmer 6.2 is currently 80 percent leased to Allergan and Brown Traffic Products Inc., while the remaining space will be occupied by Marco’s subsidiary Permalite Inc.
Meanwhile, the buildout continues at the 400-acre technology and office park, developed by Karlin and Trammell Crow Co. Karlin and TCC are completing the first phase of construction with the three-story, 192,000-square-foot office building Parmer 3.2. Later this year, the partners will break ground on Parmer 3.1.