San Marcos CISD trustees voted Monday evening to move forward with the sale of its Lamar Annex property on Hutchison Street to a Pennsylvania real estate developer.
The school board voted to authorize Superintendent Mark Eads to negotiate the sale to Guadalupe RE LLC, a holding company owned by David Lerman of Philadelphia and Mark Berins of Houston. Eads said he expects to close the deal in “90 days or sooner.”
Neither Eads nor school board president Kathy Hansen would say how many bids were submitted for the Lamar Annex, which sits on 5.2 acres of prime redevelopment property near downtown San Marcos and Texas State University. Nor would they say what the company bid for the property, which San Marcos real estate appraiser Donald W. Graham valued at a staggering $522,692 an acre.