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PLANO, TEXAS — California-based Alvarez & Marsal Capital Real Estate is underway on construction of a four-building, 204,000-square-foot office redevelopment project in Plano. Southern Methodist University (SMU) previously occupied the 16-acre site at 5228-5240 Tennyson Parkway, which can support a single or multiple users. Amenities at the new campus, which will be known as ELEVAR, will include a fitness center, conference center and a bistro lounge. Construction is slated for a third-quarter completion. Cushman & Wakefield is marketing the development for lease.