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Shorenstein buys 300K SF Sherry Lane Place office tower in Dallas
The 20-story building was 93% leased at the time of the deal, with a weighted average lease term of about 6.6 years.
Bisnow reports Shorenstein Investment Advisers has purchased Sherry Lane Place, a 300,000 square foot, 20-story office tower in the Preston Center area of Dallas.
The property recently completed a comprehensive renovation, including upgrades to conference facilities, a tenant lounge, a café, and a fitness center, and Shorenstein plans additional amenities such as wellness features and a bar lounge, plus lobby and outdoor seating improvements.
Bisnow says the office tower was 93% leased when Shorenstein acquired it, with a weighted average lease term of roughly 6.6 years, and Shorenstein cited strong occupancy and continued demand for highly amenitized space in constrained supply markets.
The deal also marks Shorenstein's fourth acquisition in the Dallas Fort Worth area over the past two years, according to Bisnow.