Shorenstein Investment Advisers announced the acquisition of The Tennyson, a 273,000-square-foot Class A office campus in Plano, Texas, further expanding the firm’s presence in the Dallas market.
Located in the Legacy submarket, one of the most sought-after office corridors in the country, The Tennyson comprises two office buildings on a 12-acre site. Originally developed in 2012 as Ericsson’s corporate headquarters, the property recently underwent a repositioning that introduced upgraded tenant amenities, including a fitness center, tenant lounge, conference facilities, café, speakeasy, and extensive outdoor areas.
The campus is currently fully leased to a diversified group of tenants, all of whom have completed modern office buildouts in recent years. Shorenstein said it plans to further enhance the tenant experience through additional amenity investments, including expanding outdoor gathering spaces.
The acquisition reflects the firm’s strategy of targeting high-quality assets in markets experiencing strong demand and favorable demographic trends. Legacy has emerged as one of Dallas’ leading corporate office hubs, supported by a growing population and major employers such as Toyota, Liberty Mutual, and JPMorgan Chase. Companies such as Samsung and AT&T have also announced plans to expand their presence in the area, with AT&T currently developing a two-million-square-foot headquarters campus scheduled to open in 2028.
The Tennyson also benefits from its proximity to Legacy West, a major mixed-use destination that includes office, residential, retail, dining, and hospitality offerings. Shorenstein believes the limited availability of premium office space in the submarket positions the property to benefit from continued demand and rent growth.
The transaction represents Shorenstein’s third investment in the Dallas region during the past 20 months. Over the last two years, the company has acquired 10 office properties totaling more than $1.5 billion and has two additional acquisitions pending in Nashville and the San Francisco Bay Area with a combined value of approximately $225 million.
Shorenstein said its recent investment strategy has focused on acquiring high-quality, income-producing properties while market capitalization remains relatively constrained. As a vertically integrated owner and operator, the company plans to bring its service model and tenant engagement programs to The Tennyson to support long-term asset performance.
KEY QUOTES:
“The Tennyson acquisition reflects our top-down strategy of investing in momentum submarkets which are poised for rent growth. Similar to our recent investments in Preston Center and the Lower Tollway, which experienced robust rent growth following our acquisitions, The Tennyson is well positioned to benefit from growing submarket demand and strong demographic tailwinds.”
Emily Chou, Vice President at Shorenstein
