The school board last week approved the lowest of three offersafter nearly two months of evaluations showed its net value workedout in the district's best financial interests. Trammell Crow Co.of Dallas and the Morgan Group of Houston walked away with theright to buy the Richmond Avenue campus, outmaneuvering a$40.1-million offer from the Archon Group of Irving, TX, and$40-million bid from locally based VeriQuest Cos. Inc.

Doug Elliott with the Houston office of CBRE/Trione & Gordontells GlobeSt.com that the school district was more interested inthe "net value" of the total offer than the purchase prices. Hesays the board considered its rental cost to remain in place untila new administration building is completed plus factored in eachoffer's broker fees.Elliott and Phil Arnett, also of CBRE/Trione& Gordon, now are positioned to open negotiations for the sale.The start of talks was decided at a closed-door meeting of theschool district's executive committee.

A school district spokeswoman has confirmed construction willbegin in the fall. Completion is planned for 2006, the first officespace to rise on 65 acres at Loop 610 and US Highway 290.