5950 Sherry Lane

Principals of Valorem led the speculative development of this class A office building in the Preston Center submarket of Dallas, Texas. Initially targeted to attract larger corporate tenants in and around the Dallas Metroplex, the principals quickly realized the benefits of a change in strategy. The property is located in a land-locked submarket and adjacent to affluent Highland Park. We adjusted strategies and targeted smaller tenants looking for office space in close proximity to their homes, the nearby Dallas Country Club and within close proximity to downtown and the highways that lead to the northern suburbs. The change in strategy lead to a quicker lease up pace and signed rents that were above initial underwriting. The property was sold at stabilization.