Alliance purchased the prime parcel, located at Gillette St. and West Dallas St. just south of Allen Pkwy., from the city for $39.9 million.
Cushman & Wakefield of Texas Inc. represented the buyers, Alliance and its joint venture partner, Washington, D.C.-based The Carlyle Group.
The deal took almost a year to close due to environmental remediation work that had to be done on the site, which formerly housed a city solid waste incinerator.
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