Parmenter Adds New Team at Two Forest Plaza

DALLAS-Parmenter Realty Partners has seated a new team to lead the repositioning of the 196,040-sf Two Forest Plaza. The new owner is seeding the class B’s turn-around plan with part of a $19.73-million financing used to acquire the asset early last month.

The renovation of Two Forest Plaza at 12201 Merit Dr. is slated to get under way in the fourth quarter. “We’re pushing to crystallize and get in bids in order to get that accomplished,” Reid Caldwell, senior vice president, who’s part of the Transwestern Dallas team that just won the assignment. The team includes executive vice president Kim Butler and vice president Linda Simpson.

The Miami-based Parmenter took the deed with occupancy at 64% in the 11-story building. Steve Bronner, Parmenter’s managing principal, had told GlobeSt.com that the goal was to bump Two Forest Plaza’s status up one notch to class A minus. He had been interviewing new teams to lead the charge at sale time. It could not be determined by press time which company previously held the leasing assignment for the Chicago-based seller, CMD Realty Investors Inc.