{"id":1004811608,"date":"2026-09-09T06:45:40","date_gmt":"2026-09-09T14:45:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004811608"},"modified":"2026-09-09T06:45:42","modified_gmt":"2026-09-09T14:45:42","slug":"shorenstein-acquires-300-ksf-dallas-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/shorenstein-acquires-300-ksf-dallas-office-tower\/","title":{"rendered":"Shorenstein Acquires 300 KSF Dallas Office Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6aa183e1b603e&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"800\" data-attachment-id=\"1004811528\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sherry-lane-place-3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Sherry-Lane-Place.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Sherry-Lane-Place\" data-image-description=\"&lt;p&gt;Image from Yardi Matrix.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Sherry Lane Place is 93 percent leased. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Sherry-Lane-Place.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Sherry-Lane-Place.jpg\" alt=\"A photo of the Sherry Lande Place office tower in Dallas.\" class=\"wp-image-1004811528\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Sherry-Lane-Place.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Sherry-Lane-Place.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Sherry Lane Place is 93 percent leased. Image courtesy of Yardi Matrix<\/figcaption><\/figure><\/div>\n\n\n<p>Shorenstein Investment Advisers has acquired Sherry Lane Place, a 300,000-square-foot office tower in Dallas\u2019s Preston Center submarket.<\/p>\n\n\n\n<p>According to Yardi Matrix, the previous owner was CBRE Investment Management, which had purchased the asset from J.P. Morgan Asset Management in 2021 for $108.7 million. The most recent sale price was not disclosed.<\/p>\n\n\n\n<p>Sherry Lane Place is a 20-story Class AA office tower that delivered in 1982 and recently underwent a comprehensive renovation, encompassing upgrades to its conference facilities, tenant lounge, caf\u00e9 and fitness center. The property is 93 percent leased, with a weighted average lease term of about 6.6 years.<\/p>\n\n\n\n<p>Shorenstein plans further improvements to the property, including the addition of wellness amenities and a bar lounge, enhancements to the lobby and upgrades to outdoor seating areas.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gradual-improvements-in-the-metroplex\">Gradual improvements in the Metroplex<\/h2>\n\n\n\n<p>This acquisition was Shorenstein\u2019s fourth in the Dallas area over the past two years. The company reported that it currently owns nearly 20 percent of Preston Center\u2019s Class A office inventory.<\/p>\n\n\n\n<p>In June, <a href=\"https:\/\/www.commercialsearch.com\/news\/shorenstein-acquires-274ksf-dfw-office-campus\/\">Shorenstein Properties acquired<\/a> The Tennyson, a two-building, 273,574-square-foot office campus in Plano, Texas, from Spear Street Capital. Newmark arranged the sale on behalf of the seller and secured the acquisition funding on behalf of the buyer.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/office-demand-surges-with-higher-absorption-increasing-sales\/\">Office Demand Surges With Higher Absorption, Increasing Sales<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The Dallas-Fort Worth Metroplex\u2019s office market continues to see declining vacancy, with total vacancy dropping to 25.1 percent, a year-over-year fall of 90 basis points, according to a second-quarter report from Kidder Mathews.<\/p>\n\n\n\n<p>Direct asking rents and total net absorption are both up, as construction deliveries are more than 90 percent lower than a year ago, although 2.9 million square feet of office space is in the pipeline.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 1982-built asset recently underwent a renovation.<\/p>\n","protected":false},"author":882,"featured_media":1004811530,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21783,21742,21747,51973],"tags":[51764,33448],"class_list":["post-1004811608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-investment","category-latest","category-office","category-southwest","tag-cbre-investment-management","tag-shorenstein-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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