**Shorenstein Acquires Sterling Plaza in Dallas’ Preston Center**
Shorenstein Advisers has acquired Sterling Plaza, a 19-story, 320,000-square-foot Class A office tower located in Dallas’ prestigious Preston Center. The property was sold by KBS Real Estate Investment Trust III.
Giovanni Cordoves of KBS commented on the transaction, stating, “In general, high-amenity, well-located Class A properties like Sterling Plaza have been leasing quickly, maintaining occupancy, and enjoying better performance than Class B and C buildings, which continue to struggle.”
KBS made significant upgrades to the building in 2023, adding a full amenity floor featuring a state-of-the-art conference center, a modern fitness center with showers and lockers, and a tenant lounge outfitted with a bar and complimentary coffee. Additional amenities available to tenants include an on-site café, EV charging stations, shoeshine services, an ATM, complimentary bike check-out and storage, car wash services, and access to a 15-passenger Mercedes-Benz Sprinter Van offering convenient transport to nearby dining and retail destinations.
The sale was brokered by Newmark, with Robert Hill, Chris Murphy, Gary Carr, and Austin Sheahan representing KBS in the transaction.
Sterling Plaza is located at 5949 Sherry Lane in Dallas.
