DALLAS – January 29, 2021 – A fund sponsored by CBRE Global Investors has acquired the 301,891-square-foot Sherry Lane Place office tower in Dallas, Texas. The 20-story property, located at 5956 Sherry Lane, was built in 1984 and was fully renovated in 2020.
Sherry Lane Place is currently 80% leased and features open 19,350-square-foot floor plates, sweeping views on each floor, ample parking in the four-level parking garage, and a brand-new amenity package that offers a fitness facility, a large conference center, a café with indoor and outdoor seating, and executive parking.
“We believe that Sherry Lane Place is one of the premier office assets within the Preston Center submarket. The high-quality features of the building and its centralized location are two factors that we think tenants will continue to demand of their office space moving forward,” said Robert Perry, President of Americas Real Estate Division and Head of Strategic Partners U.S. for CBRE Global Investors. “CBRE Global Investors plans to execute a building modernization plan that appeals to new-economy tenants with the flexibility to address COVID-19 concerns, including the installment of a spec-suite program, the implementation of our proprietary Above & Beyond package, and the activation of the recently upgraded building amenities.”
Located in the premier Preston Center submarket, Sherry Lane Place is situated just off the Dallas North Tollway and Douglas Avenue and is less than 15 minutes from downtown Dallas. The property’s central positioning within Preston Center provides walkability to various dining, retail and entertainment options and offers immediate connectivity to the surrounding high-demographic neighborhoods and reach to the broader DFW Metroplex.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.