Shorenstein Expands Dallas Portfolio with Acquisition of Sherry Lane Place

Acquisition Reflects Continued Conviction in Prestigious Preston Center Submarket Amid Strong Tenant Demand and Rent Growth

SAN FRANCISCO, Sept. 8, 2026 /PRNewswire/ -- Shorenstein Investment Advisers ("Shorenstein" or the "Company"), an owner and operator of high-quality office, residential and mixed-use properties across the U.S., today announced the acquisition of Sherry Lane Place (the "Property"), a 300,000-square-foot Class AA office tower in the Preston Center submarket of Dallas, Texas. The acquisition marks Shorenstein's fourth acquisition in Dallas over the past two years, deepening the Company's presence in one of the country's strongest-performing office markets.

Sherry Lane Place is a 20-story, Class AA office tower located in Dallas' premier Preston Center submarket. The Property recently underwent a comprehensive renovation, including upgrades to its conference facilities, tenant lounge, café and fitness center, creating a modern workplace environment in one of Dallas' most walkable mixed-use districts. Sherry Lane Place is 93% leased as of closing to a diverse roster of institutional tenants with a weighted average lease term of approximately 6.6 years.

Shorenstein plans to further elevate the tenant experience at Sherry Lane Place through the addition of wellness amenities and a bar lounge, enhancements to the lobby, and upgrades to outdoor seating areas designed to further activate the ground floor. These improvements reflect the firm's vertically integrated approach to creating distinctive, hospitality-inspired environments that drive tenant engagement and support long-term leasing performance.

Preston Center continues to benefit from exceptionally strong fundamentals, with sustained tenant demand supporting significant rent growth. The submarket has an availability rate of 4% as of 2Q26 with only one full floor available for lease, which is in The Sterling, a property Shorenstein acquired in 2025. The submarket is one of the strongest in the country and is the first in Dallas with rents exceeding $100 per square foot on a triple-net basis.

"We continue to see compelling opportunities in select office markets where supply is constrained and tenant demand for highly-amenitized assets remains strong," said Emily Chou, Vice President at Shorenstein. "Preston Center's strong occupancy, durable tenant demand, attractive demographics and unparalleled access to some of Dallas' most desirable neighborhoods have established it as one of the country's premier office destinations. We believe Sherry Lane Place is exceptionally well positioned to benefit from these trends, and we are excited to add the Property to our growing Dallas portfolio."

This acquisition further expands Shorenstein's presence in Dallas and Preston Center in particular, where the Company owns nearly 20% of Class A office inventory. Shorenstein has unique visibility into leasing trends through its Dallas portfolio, giving the Company the conviction to continue growing its footprint in the region. This investment, along with the broader portfolio, reflects Shorenstein's strategy of investing in select, high-performing office submarkets that continue to benefit from robust tenant demand, limited supply and favorable long-term fundamentals.

Since June 2024, Shorenstein has been one of the most active office investors in the country, acquiring 13 office properties totaling approximately $2 billion (with another building under contract and scheduled to close during 3Q26). Shorenstein's strategy has focused on acquiring high-quality assets in premier submarkets that are positioned to deliver attractive cash flow and near-term value creation. Combined, the office properties acquired as of June 2026 produced an average distribution yield of 8%.

About Shorenstein
Shorenstein is a privately-owned investment adviser that, through affiliated entities, owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Since 1992, Shorenstein and its affiliates have acquired $20.6 billion in assets (as of June 30, 2026). Using their integrated investment and operating capabilities, the firm seeks to take advantage of opportunities that, at the particular time in the investment cycle, offer attractive returns. Investments have included ground-up developments, asset repositioning and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. More information is available at www.shorenstein.com.

Contacts

For Shorenstein:
Madeline Jones / Alexander Wolfsohn
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449

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SOURCE Shorenstein Properties LLC