A Plano office campus near major corporate headquarters has a new owner.
Financial terms of the deal were not disclosed. However, Shorenstein obtained a $67.2 million loan from Delaware Life Insurance to fund the purchase. The transaction closed June 11, Collin County documents show.
The two-building property was originally completed in 2012 and received significant capital improvements to the fitness center, lobby, tenant lounge and conference facilities in 2024. The property is 100% leased. The Collin County Appraisal District values the property at roughly $70.6 million for tax purposes.
The campus was originally developed as part of Swedish telecom giant Ericsson’s North American headquarters. Current tenants include Samsung Research America. Samsung announced earlier this month it was moving its North American operations nearby to 6625 Excellence Way in Plano’s Legacy Central campus.
The site is within the Legacy business park area, near the future AT&T headquarters and other large employers such as Toyota, JPMorgan Chase and PepsiCo.
The deal marks Shorenstein’s third acquisition in the Dallas market in recent years. The firm also owns Sterling Plaza in Preston Center and International Plaza II in Far North Dallas.
“The Tennyson acquisition reflects our top-down strategy of investing in momentum submarkets which are poised for rent growth,” Emily Chou, vice president at Shorenstein, said in a statement. “Similar to our recent investments in Preston Center and the Lower Tollway, which experienced robust rent growth following our acquisitions, The Tennyson is well-positioned to benefit from growing submarket demand and strong demographic tailwinds.”
Newmark vice chairmen Chris Murphy, Robert Hill and Gary Carr and director Austin Sheahan represented the seller. Executive vice chairman Ramsey Daya and senior managing director Andrew Porteous arranged acquisition financing on behalf of the buyer with support from vice chairman Clint Frease, senior managing director Chris McColpin and director Josh Francis.
Dallas-Fort Worth remains one of the nation’s premier office markets. Newmark’s latest report shows leasing activity rebounded from the seasonal lull in the first quarter of 2026, rising 31.7% quarter over quarter to 4.4 million square feet.
