Shorenstein Investment Advisers has expanded its presence in North Texas with the acquisition of Sherry Lane Place, a 300,000-square-foot Class AA office tower in the Preston Center submarket of Dallas, Texas. The purchase represents the firm's fourth acquisition in Dallas over the past two years, further building out its regional office portfolio.
The 20-story tower is positioned in what is described as Dallas' premier Preston Center submarket. Sherry Lane Place recently completed a comprehensive renovation program that refreshed several tenant-facing spaces. Upgrades focused on shared amenities, including conference facilities, a tenant lounge, a cafe, and a fitness center, reflecting current demand for amenity-rich office environments.
At the time of closing, Sherry Lane Place was reported to be 93% leased. The tenancy is characterized as a diverse roster of institutional tenants, indicating a broad mix rather than reliance on a single major occupant. The property carries a weighted-average lease term of approximately 6.6 years, providing Shorenstein with multi-year income visibility across the rent roll.
Looking ahead, Shorenstein plans another round of enhancements aimed at further improving the tenant experience. The firm intends to add wellness-oriented amenities and a bar lounge, upgrade the building's lobby, and improve outdoor seating areas. These initiatives are positioned as incremental improvements on top of the recent renovation work already completed at the tower.
The acquisition at Sherry Lane Place is part of a larger office investment strategy for Shorenstein. Since June 2024, the firm has acquired 13 office properties with an aggregate value of approximately $2 billion. Across this group of office investments, the properties acquired as of June 2026 produced an average distribution yield of 8%, highlighting the income profile Shorenstein has been targeting within the office sector.
By adding another Class AA, highly leased asset in a prominent Dallas submarket, Shorenstein continues to concentrate capital in markets and properties where recent leasing performance and amenity packages are supporting cash flow durability. The Preston Center tower joins the firm's growing Dallas portfolio as it pursues scale in select office markets nationwide.
