Fifth Dallas Acquisition in Two Years Builds on Ownership of Adjacent International Plaza 2
SAN FRANCISCO, Nov. 13, 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 International Plaza 3 (the “Property”), an approximately 356,000-square-foot Class A office tower in Dallas’ Lower Tollway submarket. The transaction marks Shorenstein’s fifth acquisition in Dallas over the past two years and builds on its ownership of the adjacent International Plaza 2, acquired in September 2024.
Located along the Dallas North Tollway, International Plaza 3 is a 13-story office tower that recently underwent an extensive renovation, including upgrades to its lobby, conference facilities, café, fitness center and elevators. The Property is approximately 85% leased to a diverse roster of tenants, including Wells Fargo Wealth Management, MassMutual and Colliers, with a weighted average remaining lease term of approximately 6 years.
Shorenstein plans to further improve the tenant experience through the addition of wellness amenities, an expanded lobby featuring a new coffee bar, tenant lounge, and a sports simulator game room. Shorenstein also plans to structure formal tenant access to International Plaza 2’s robust amenity package, including a full-floor food hall and the Lake House event center.
“Our established presence in Dallas and the submarket has given us a unique lens into the leasing momentum in the Lower Tollway area and the continued demand for high-quality, amenitized office space in the submarket,” said Emily Chou, Vice President at Shorenstein. “That experience gives us strong conviction in International Plaza 3’s rent growth potential. We see an opportunity to expand on the Property’s recent improvements and offer a broader range of amenities for tenants.”
Shorenstein’s ownership of International Plaza 2 provides the Company with firsthand, real-time insight into these leasing trends and tenant demand across Class A, Tier 1 amenitized properties in the Lower Tollway submarket. This competitive set is approximately 94% leased, with only two available blocks capable of accommodating tenants requiring more than two floors. Limited supply has continued to support rent growth, with average asking rents exceeding $50 per square foot on a triple-net basis, an increase of nearly 40% since Shorenstein’s initial acquisition in the submarket two years ago.
“International Plaza 3 is emblematic of our continued strategy to acquire best-in-class assets in premier submarkets that generate both attractive cash flow yields and opportunistic total returns, a combination that is rare to find in commercial real estate,” said Colby Wick, Chief Investment Officer at Shorenstein. “With a growing pipeline of high-quality office offerings and an extremely limited amount of investment capital for the sector, we are excited about the current investment environment.”
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 $20.6 billion in assets (as of June 30, 2026). 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 / Alexander Wolfsohn
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449
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SOURCE Shorenstein Properties LLC
