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Commercial
Texas

Alvarez and Marsal to renovate SMU Plano for tech hub

Plans for Elevar resemble a tech campus in the San Francisco Bay Area

Cushman and Wakefield's Clint Madison and 5228 Tennyson Parkway (Cushman and Wakefield, Google Maps, Getty)
Cushman and Wakefield's Clint Madison and 5228 Tennyson Parkway (Cushman and Wakefield, Google Maps, Getty)

A former Southern Methodist University campus in Plano is getting a techie makeover.

Developer Alvarez and Marsal Capital Real Estate, part of California-based Alvarez and Marsal, is targeting the campus for a major renovation. The 16-acre redeveloped office campus will soon be a creative office and tech hub called Elevar, the Dallas Morning News reports.

Located at 5228 Tennyson Parkway in the booming Legacy business park, the four-building site is slated for completion between July and September.

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Plans for Elevar resemble a tech campus in the Bay Area. It will include a training and conference center with seating for over 40 guests, a bistro and lounge with grab-and-go service, and a fitness center. On top of that, there’s plans for electric vehicle charging stations, plus public and private tenant patios or terraces with collaborative work areas.

Elevar will be the first of its kind in Plano’s office submarket, said Clint Madison of Cushman and Wakefield, which will be heading leasing efforts for the project.

The campus previously held SMU’s graduate video game development program, as well as the Center for Family Counseling and the Center for Dispute Resolution and Conflict Management. Before that, Electronic Data Systems had offices there. With the incoming tech campus, SMU is moving the program’s operations back to its main campus in University Park Dallas.

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— Maddy Sperling

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Commercial Real EstateTechnology