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JLL secures office extension in Preston Center for private equity firm
Dallas, April 12, 2018 – JLL announced today the successful negotiation of an office lease extension and expansion for GRP Energy Capital. The energy private equity firm, which specializes in mineral and royalty acquisitions, is expanding their initial 3,650 square foot office footprint at Sherry Lane Place, located at 5956 Sherry Lane in Dallas, to 5,704 square feet.
JLL Managing Director
Greg Biggs, Associate
Harrison Burt and Associate Maggie Birnbach negotiated the lease on behalf GRP Energy Capital. Cushman & Wakefield's Ward Eastman represented the landlord, Sherry Realty Holdings LP.
"GRP Energy Capital's expansion and extension reaffirms the growth of their company and the growth of the region," said Biggs. "Their centralized location, accessibility and nearby amenities provide a great corporate environment to continue cultivating first-class services for their clients. We're thrilled to play a role in securing their corporate home."
JLL Research, office space within the Preston Center submarket is at a premium. Through Q4 2017, the submarket recorded 4.2 million square feet of inventory and a 14.4% vacancy rate. Its attractive location and close proximity to executives' households has driven average asking rental rates to $40.25 per square foot, second only to Uptown which is at $41.26 per square foot.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 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
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