{"id":1004132811,"date":"2015-12-02T14:18:27","date_gmt":"2015-12-02T22:18:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004132811"},"modified":"2020-05-11T22:10:07","modified_gmt":"2020-05-12T06:10:07","slug":"silicon-hills-campus-attracts-sunshine-state-buyer","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/silicon-hills-campus-attracts-sunshine-state-buyer\/","title":{"rendered":"Silicon Hills Campus Attracts Sunshine State Buyer"},"content":{"rendered":"

By Anca Gagiuc, Associate Editor<\/span><\/i><\/p>\n

\"7700<\/a>

7700 Parmer Lane, Austin<\/em><\/p><\/div>\n

Accesso Partners LLC<\/span><\/a> is expanding its Austin footprint. The Hallandale Beach, Fla.-based company has acquired 7700 Parmer Lane<\/a>, a 913,000-square-foot, Class A office campus in Northwest Austin. Terms were undisclosed.<\/span><\/p>\n

The four-building property is located in a high-tech hub that includes campuses occupied by Apple\u2019s Dell, National Semiconductor and IBM, as well as a planned office complex for Charles Schwab.<\/span><\/p>\n

\u201cWe are honored to be selected as the buyer for the premier multi-tenant office park in Northwest Austin\u2019s thriving technology corridor,\u201d said Ariel Bentata, co-founder and managing partner-investments for Accesso Partners, in a statement. \u201cEach of the six tenants at 7700 Parmer are global market leaders in their categories, providing us with exceptional long term income stability,\u201d he added. \u201cPlus, with the 6 percent vacancy and strong demand for space on this campus, we have immediate upside potential.\u201d<\/span><\/p>\n

Amenities at 7700 Parmer include a state-of-the-art auditorium, full-service cafeteria with multiple culinary options, baseball field, basketball courts, volleyball court, and a day care service.<\/p>\n

At the time of the transaction, the property had two vacancies: 31,436 square feet in building B, adjacent to Oracle, and 23,693 square feet in building C, adjacent to Electronic Arts. Furthermore, the property presents a value-add opportunity to develop a fifth office building within the campus footprint.<\/p>\n

The 129-acre campus marks Accesso’s second Austin acquisition in the last five months. In June, Accesso purchased Riata Corporate Park<\/a>, a four-building, 688,432 square-foot Class A office complex.<\/p>\n

Michael McDonald, managing director in the Atlanta office of Eastdil Secured<\/a> represented the seller, while Susan Hill, senior managing director of HFF<\/a>, arranged the financing. <\/span><\/p>\n

“Accesso was exemplary in the quality of its offer, in meeting all of our timing requests, in doing everything they said they were going to do\u2014on time,\u201d McDonald commented in a statement.<\/span><\/p>\n

He described 7700 Parmer as “the epitome of Austin today, a high-tech collaborative office environment that provides exactly what tenants want\u2014a city within a city with a rich amenity base. And what investors want\u2014the most impressive rent roll, not just in Austin but in the entire state of Texas.\u201d <\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Commercial real estate company is adding to its Capitol City portfolio.<\/p>\n","protected":false},"author":237,"featured_media":1004132812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21743,21825,21747],"tags":[],"class_list":["post-1004132811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-deals","category-finance","category-office"],"acf":[],"yoast_head":"\nSilicon Hills Campus Attracts Sunshine State Buyer - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/silicon-hills-campus-attracts-sunshine-state-buyer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silicon Hills Campus Attracts Sunshine State Buyer\" \/>\n<meta property=\"og:description\" content=\"Commercial real estate company is adding to its Capitol City portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/silicon-hills-campus-attracts-sunshine-state-buyer\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-12-02T22:18:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T06:10:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/7700-Parmer-Lane-Austin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1512\" \/>\n\t<meta property=\"og:image:height\" content=\"1008\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-hills-campus-attracts-sunshine-state-buyer\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-hills-campus-attracts-sunshine-state-buyer\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Silicon Hills Campus Attracts Sunshine State Buyer\",\"datePublished\":\"2015-12-02T22:18:27+00:00\",\"dateModified\":\"2020-05-12T06:10:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-hills-campus-attracts-sunshine-state-buyer\\\/\"},\"wordCount\":367,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-hills-campus-attracts-sunshine-state-buyer\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/12\\\/7700-Parmer-Lane-Austin.jpg\",\"articleSection\":[\"Austin\",\"Deals\",\"Finance\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-hills-campus-attracts-sunshine-state-buyer\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-hills-campus-attracts-sunshine-state-buyer\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-hills-campus-attracts-sunshine-state-buyer\\\/\",\"name\":\"Silicon Hills Campus Attracts Sunshine State Buyer - 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