Shorenstein Acquires The Tennyson in Rebounding Legacy Submarket of Dallas

Acquisition Reflects Firm's Focus on Investing in High-Quality Assets in High Demand Submarkets

SAN FRANCISCO, June 15, 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 The Tennyson, a 273,000-square-foot, Class A office campus in Plano, Texas.

The Tennyson is a two-building office campus located in Legacy, one of the most sought-after office submarkets for corporate users in the country. Originally developed in 2012 as a corporate headquarters for Ericsson, the property recently underwent a repositioning that added best-in-class amenities for tenants, including a modern fitness center, tenant lounge, conference facility, café, speakeasy and expansive outdoor space. While the property is fully leased to a diverse roster of high-quality tenants, all of which have completed modern buildouts in recent years, Shorenstein plans to further elevate the amenities and experience, including an expansion of the outdoor amenities on the 12-acre site.

Legacy has established itself as one of Dallas' leading corporate office hubs, supported by a deep base of major employers and favorable demographic trends including a highly educated and rapidly growing population. The submarket is home to large corporate campuses for Toyota, Liberty Mutual and JPMorgan, which now has more employees in Texas than New York. Several other companies recently announced relocations to the submarket including Samsung and AT&T, which is in the process of designing a two million square foot headquarters campus that will open in 2028. Within the submarket, the property benefits from proximity to Legacy West, a premier mixed-use destination with corporate offices, residential, retail, dining and hospitality. With diminishing availability of high-quality office space in the submarket, The Tennyson is well positioned to benefit from sustained demand and rent growth.

"The Tennyson acquisition reflects our top-down strategy of investing in momentum submarkets which are poised for rent growth," said Emily Chou, Vice President at Shorenstein. "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."

The acquisition marks Shorenstein's third investment in the Dallas region in the past 20 months and builds on the Company's recent activity of acquiring high-quality, cash-flowing properties while investment capital remains on the sidelines. Over the past 24 months, Shorenstein has acquired 10 office properties totaling more than $1.5 billion with two additional pending acquisitions in Nashville and the San Francisco Bay Area that total approximately $225 million. Shorenstein's strategy has focused on acquiring top-tier assets in premier submarkets that are positioned to deliver attractive cash flow and near-term value creation. The portfolio that Shorenstein has curated in its recent fund has delivered a distribution yield over 9% as of year-end 2025 and The Tennyson is expected to further augment that distribution yield. As a vertically integrated investor and operator, Shorenstein will bring its high-touch service model and curated tenant programming to The Tennyson to support tenant engagement and long-term asset performance.

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 $20.3 billion in assets (as of December 31, 2025). 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 / Alex Wolfsohn
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449

SOURCE Shorenstein Properties LLC