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JLL awarded nearly 200,000 square feet of office space on the Dallas North Tollway
DALLAS, September 8, 2016 – On behalf of TIER REIT, Inc., JLL today announced the firm has been awarded the exclusive leasing assignment for 5950 Sherry Lane, a nine-story, Class A office property prominently located on the east side of the Dallas North Tollway near Northwest Highway in Dallas, Texas.
The property boasts more than 196,000 square feet of rentable office space. Currently, the building offers 31,000 square feet of available office space, including approximately 16,000 SF of contiguous space along with another round of spec suites scheduled to deliver later this year.
JLL Executive Vice President Daryl Mullin, Senior Vice President Blake Shipley, and Associate Cullen Donohue will lead the leasing and marketing efforts.
"We are excited to partner with TIER REIT on this high profile asset," says Shipley. "The capital investments made by TIER REIT have significantly elevated this asset within the market. The fact that they are headquartered in the building is significant and it brings stability for existing and future tenants alike."
New amenities and upgrades were completed earlier this year on the property including a new tenant conference center and self-service sundry shop, along with renovated building lobby, corridors and restrooms on each floor.
Office space within Preston Center is at a premium, according to JLL Research. The submarket has the lowest vacancy in Dallas through Q2 2016 (10.7%) due in part to its desirable, centralized location, accessibility, and proximity to top-end executive housing.
For more information about 5950 Sherry Lane, please contact Blake Shipley or Daryl Mullin at +1 214 438 6100 or firstname.lastname@example.org and email@example.com.
About JLLJLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
About TIER REIT, Inc.TIER REIT, Inc. is a self-managed, Dallas-based real estate investment trust focused on delivering outsized stockholder return through stock price appreciation and dividend growth while offering unparalleled tenant service. TIER REIT's investment strategy is to acquire, develop and operate a portfolio of best-in-class office properties in select U.S. markets that consistently lead the nation in both population and office-using employment growth. Within these markets, the Company targets TIER1 submarkets, which are primarily urban and amenity-rich locations. For additional information regarding TIER REIT, please visit www.tierreit.com or call 972.483.2400.
+1 214 438 6550