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Plano campus once used by SMU sells to investor

Legacy business park buildings bought by California-based property firm.

A former Plano college campus has sold to a California investor that plans to redo the property.

The 16-acre, four-building campus is east of the Dallas North Tollway in Plano’s Legacy business park.

Starting in 1997, the property on Tennyson Parkway housed Southern Methodist University’s Plano campus for more than two decades. Called SMU in Plano, the 48,000-square-foot branch campus was previously used by Electronic Data Systems.

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It was then remodeled for SMU’s graduate video game development program, the Center for Family Counseling and the Center for Dispute Resolution and Conflict Management.

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SMU moved those programs back to its main campus in University Park when it put the property up for sale. A partnership headed by Dallas developer Trammell Crow Co. bought the buildings in 2019.

Now the Crow Co. partnership has sold the campus to a unit of Alvarez & Marsal Capital Real Estate, based in El Segundo, Calif., deed records show.

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Alvarez & Marsal is an international advisory firm with more than 65 offices in over two dozen countries.

The new owner plans to redevelop the former SMU Plano campus into offices for creative and tech firms, according to real estate brokers tracking the deal.