Wood Partners bought a Durham office complex with plans to tear it down and build apartments. The Triangle Business Journal reports that Wood paid $11 million for three office buildings and two parking lots in the Durham Summit office parks. Beacon Partners was the seller.

Wood will build 312 units in three—and four-story buildings. The community will have a swimming pool, dog park, dog spa and open space. Construction will start in October and will be completed by summer 2027.

The Wood Partners project is adjacent to Durham Technical Community College’s new business and entrepreneurship hub (photo), which was developed in partnership with Beacon Partners. Beacon renovated the office building at 3414 N. Duke St., investing more than $5 million to build out the space for Durham Tech.

The hub features programs for cosmetology, esthetician technology, natural hair care specialist, manicuring specialist, massage therapy and real estate.