Sterling Plaza KBS Sells 19-Story Office Tower in Dallas
Deal News | Jul 14, 2025 | KBS Realty Advisors Inc
KBS Realty Advisors Inc., a major owner and operator of commercial real estate, has successfully sold Sterling Plaza, a 19-story, Class A office building located in the affluent Preston Center of Dallas, Texas. The building was previously part of KBS Real Estate Investment Trust III's portfolio and has now been acquired by Shorenstein Investment Advisers. The sale showcases an ongoing strong demand for high-quality office properties situated in desirable locations, supported by stellar amenities. KBS has highlighted the strategic importance of Sterling Plaza's location, along with recent enhancements such as a new amenity floor to attract high-end tenants. Newmark Research emphasizes the growing trend of 'flight to quality' in the Dallas office market, with Class A buildings leading in leasing activities. Legal counsel for the transaction was provided by Greenberg Traurig, LLP, while Newmark's Vice Chairmen and Director represented KBS in the disposition.
Sectors
- Commercial Real Estate
- Legal Services
Geography
- United States – The transaction involves properties and companies based in the United States.
- Dallas, Texas – Sterling Plaza is located in Dallas, making the city a focal point of the real estate transaction.
Industry
- Commercial Real Estate – The sale of Sterling Plaza, a Class A office tower, involves the commercial real estate sector, focusing on high-quality properties and their market dynamics.
- Legal Services – Greenberg Traurig, LLP provided legal advice during the transaction, showcasing the role of legal services in real estate deals.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| KBS Realty Advisors Inc. | Selling Company | Company | KBS Realty Advisors is a major owner and operator of premier commercial real estate. |
| KBS Real Estate Investment Trust III | Selling Company | Company | A real estate investment trust part of KBS that owned Sterling Plaza prior to the sale. |
| Shorenstein Investment Advisers | Buying Company | Company | A real estate investment company that purchased Sterling Plaza. |
| Newmark | Transaction Advisor | Company | Represented KBS in the disposition of Sterling Plaza. |
| Greenberg Traurig, LLP | Legal Advisor | Company | Provided legal counsel to KBS during the transaction. |
| Giovanni Cordoves | KBS Regional President, Western U.S. | Person | Discussed the significance of the transaction and market demand. |
| Brett Merz | Asset Manager | Person | Highlighted the strategic importance of Sterling Plaza’s location. |