Diocese Eyes $25M Plan for Alcatel Site

PLANO, TX-The Catholic Diocese of Dallas and Alcatel USA Sourcing LP have signed a purchase agreement for a 280,000-sf, 47.5-acre campus in Plano. Acquisition and development costs for the region’s first Catholic high school in decades are calculated at more than $25 million.

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

The diocese has five high schools in North Texas, but demand far outweighs capacity. The acquisition, tentatively set to close in December, will be built out with the John Paul II Catholic High School, a plan that’s been on the drawing boards for several years.