It has taken nearly a year to make the deal for 1000 Coit Rd.,Phil Baker, now an executive vice president with CB Richard EllisInc. in Dallas, tells GlobeSt.com. Alcatel scaled back jobs andoffice space in the past year, but hasn't turned its back totallyon the Far North Dallas submarket although it is marketing two moreassets, totaling 498,000 sf, on the north side of the freeway.

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The diocese has five high schools in North Texas, but demand faroutweighs capacity. The acquisition, tentatively set to close inDecember, will be built out with the John Paul II Catholic HighSchool, a plan that's been on the drawing boards for severalyears.

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"The bishop, the staff and other supporters have looked atnumerous options of how to bring a Catholic high school to thePlano area," Dr. Charles LeBlanc, the diocese's director ofschools, said in a press release. "The Alcatel facility andproperty offers us an incredible opportunity and a prime, readilyaccessible location." If the deal closes on schedule, constructioncould start in about 16 months. It is hoped to be up and runningfor the 2005-06 term.

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The diocese plans to reconfigure the 280,000-sf building into aco-ed school for 1,200 students, with ample space for classrooms,chapel, cafeteria, library and labs. A gymnasium is being discussedand is one consideration for the 12.5 acres of raw land that wereoptioned along with the building, which sits on 35 acres on thenortheast corner of Plano Parkway and Coit Road.

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Baker and John Huff, both formerly with Insignia/ESG and now atCBRE, represented the diocese. Dave Anderson of CBRE in Dallasbargained the deal for Alcatel.

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