{"id":1004508797,"date":"2021-02-01T05:02:16","date_gmt":"2021-02-01T13:02:16","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004507752"},"modified":"2021-05-18T23:11:48","modified_gmt":"2021-05-19T07:11:48","slug":"cbre-global-investors-bolsters-dallas-presence","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-bolsters-dallas-presence\/","title":{"rendered":"CBRE Global Investors Bolsters Dallas Presence"},"content":{"rendered":"
\"\"<\/a>

Sherry Lane Place. Image courtesy of CBRE Global Investors<\/em><\/p><\/div>\n

CBRE Global Investors has expanded its Texas footprint with the acquisition of Sherry Lane Place, a 301,891-square-foot office building in Preston Center, part of the Dallas office market<\/a>. The seller, J.P. Morgan Asset Management, bought the asset back in 2006, CommercialEdge data shows.<\/p>\n

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READ ALSO<\/strong>: Parallel Capital Welcomes Pair at Suburban Dallas High-Rise<\/a><\/p>\n

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Built in 1984, the 20-story property at 5956 Sherry Lane offers 19,350-square-foot floorplates, atop of a four-level parking garage. Fully upgraded in 2020, the building got a fresh amenity package that comprises a fitness center, a conference center, a caf\u00e9 with outdoor seating and executive parking. At the time of the sale, Sherry Lane Place was 80 percent leased.<\/p>\n

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Sherry Lane Place. Image courtesy of CBRE Global Investors<\/em><\/p><\/div>\n

The new owner is planning to renovate the asset to include a more COVID-19-conscious design, Robert Perry, president of Americas Real Estate Division & head of Strategic Partners U.S. said, in prepared remarks. The improvement plan call for the implementation of a spec-suite program and the activation of the recently revamped building amenities.<\/p>\n

Located near the intersection of Route 12 and Dallas North Tollway, the 7-acre lot sits 8.7 miles north of downtown Dallas. A Target-anchored retail center is within walking distance, while Love Field Airport is within 4 miles southwest.<\/p>\n

Who’s buying what?<\/h2>\n

CBRE\u2019s Dallas office portfolio includes another 20-story building spanning nearly 500,000 square feet, at 8750 N. Central Expressway, 3 miles east of Sherry Lane Place. The company acquired the property in mid-2017 for $120 million. In one of its most recent Southern U.S. purchases, CBRE bought a newly built, 421,470-square-foot Class A warehouse in Tennessee<\/a>, advancing its industrial-focused strategy for 2020.<\/p>\n

Recently, local player Cawley Partners also boosted its presence in the metro’s office market. In January, the company purchased a 150,000-square-foot building<\/a> in the Las Colinas submarket and two Class A properties encompassing 475,000 square feet<\/a> in Southlake, Texas.<\/p>\n","protected":false},"excerpt":{"rendered":"

Freshly revamped last year, the 20-story office building within the city’s Preston Center submarket dates back to the 1980s.<\/p>\n","protected":false},"author":739,"featured_media":1004517991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21783,21742,21747],"tags":[35095,33223],"class_list":["post-1004508797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-investment","category-latest","category-office","tag-cbre-global-investors","tag-j-p-morgan-asset-management"],"acf":[],"yoast_head":"\nCBRE Global Investors Bolsters Dallas Presence - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-bolsters-dallas-presence\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Global Investors Bolsters Dallas Presence\" \/>\n<meta property=\"og:description\" content=\"Freshly revamped last year, the 20-story office building within the city's Preston Center submarket dates back to the 1980s.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-bolsters-dallas-presence\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-01T13:02:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-19T07:11:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Sherry-Lane-Place.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-bolsters-dallas-presence\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-bolsters-dallas-presence\/\",\"name\":\"CBRE Global Investors Bolsters Dallas Presence - 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