Shorenstein Properties Snags 274K sf Office in Plano

Shorenstein Properties picked up the Tennyson, a two-building Class A office campus in Plano, from Spear Street Capital.

The Tennyson is currently 100 percent leased, according to Newmark, and recently completed upgrades to its fitness center, lobby, tenant lounge and conference rooms, according to a press release. The sale price is undisclosed, but the Collin Central Appraisal District set the property’s value at about $70.6 million.

The renovations were made in 2024, and the building was completed in 2012. The weighted average lease term is more than six years, and the four-story, two-building campus spans 273,574 square feet.

Newmark vice chairmen Chris Murphy, Robert Hill, Gary Carr and director Austin Sheahan represented Spear Street in the transaction, according to the release.

The building is located in Legacy Business Park, just down the street from the Sam Rayburn Tollway at 6105 Tennyson Parkway. The Tennyson is walking distance from Legacy West and The Shops at Legacy, according to the release, and is surrounded by Toyota, JP Morgan Chase, Pepsico and the future AT&T corporate headquarters.

Plano, a suburb north of Dallas, is seeing a recent boom in corporate headquarters. The city has proposed $700 million in funding to get the Dallas Stars to move to The Shops at Willow Bend, and Samsung recently announced that it is moving its U.S. corporate headquarters from New Jersey to the city. Las Vegas Sands, the resort and casino empire, is opening a tech office in Plano as it continues to push for gambling legalization in Texas.

The Tennyson sale is the second major transaction Spear Street has been involved with in June. On the first of the month, it entered into an agreement with Prime Finance to sell 225 West Wacker Drive in Chicago for a reported $120 million. 225 West Wacker spans 650,812 square-feet, and is 86 percent leased.