Sterling Plaza, a 19-story, 320,000-square-foot Class A office tower in Dallas’s Preston Center, has been sold to Shorenstein Advisers. KBS Real Estate Investment Trust III was the seller.
KBS’s Giovanni Cordoves added, “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.”
In 2023, KBS added an entire amenity floor with a state-of-the-art conference center, a fitness center with showers and lockers, and a tenant lounge with a bar and complimentary coffee. Sterling Plaza tenants also enjoy an on-site café, EV charging stations, shoeshine services, ATM, complimentary bike check-out and storage, car wash, and a 15-passenger Mercedes-Benz Sprinter Van for additional access to the many surrounding dining and shopping amenities in the vibrant submarket.
Newmark’s Robert Hill, Chris Murphy, Gary Carr and Austin Sheahan represented KBS in the disposition of Sterling Plaza.
Sterling Plaza is located at 5949 Sherry Lane, Dallas.
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