$19.73-millionfinancing

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The renovation of Two Forest Plaza at 12201 Merit Dr. is slatedto get under way in the fourth quarter. "We're pushing tocrystallize and get in bids in order to get that accomplished,"Reid Caldwell, senior vice president, who's part of theTranswestern Dallas team that just won the assignment. The teamincludes executive vice president Kim Butler and vice presidentLinda Simpson.

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The Miami-based Parmenter took the deed with occupancy at 64% inthe 11-story building. Steve Bronner, Parmenter's managingprincipal, had told GlobeSt.com that the goal was to bump TwoForest Plaza's status up one notch to class A minus. He had beeninterviewing new teams to lead the charge at sale time. It couldnot be determined by press time which company previously held theleasing assignment for the Chicago-based seller, CMD RealtyInvestors Inc.

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"We've been planting seeds with Parmenter for quite awhile andtrying to get their attention," Caldwell says. "You just work hardto convince someone you can solve their strategies for them."

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Parmenter also owns three adjoining office towers, 835,000 sf of92%-leased class A space. Jones Lang LaSalle is leasing andmanaging the trio, which Parmenter bought last year.

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Caldwell, agreeing with previous statements from Bronner,believes Two Forest Plaza stands to benefit from the Park Centraltowers and the submarket at large. "It's a great asset in a micromarket of Park Central that's made massive strides in the past 24months," he says.

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