Friday, February 20, 2015

North Dallas office building now owned by Addison real estate investment trust



A North Dallas office building has quietly changed hands.

Addison-based Tier REIT Inc. has purchased the 9-story 5950 Sherry Lane building in Preston Center.

Built in 1999, the building contains almost 200,000 square feet and is located on the east side of the Dallas North Tollway and Sherry Lane.

Tenants in the building include Virginia Cook Realtors, Amadeus Technology  and Caliber Home Loans.

The building was acquired in a transaction with RREEF.

Preston Center is one of Dallas’ hottest office markets, with low vacancy rates and some of the highest rents in the city.

Steve Brown, The Dallas Morning News