Shorenstein Properties has scooped up the Tennyson, a roughly 274,000 square foot, two-building Class A office campus in Plano’s Legacy Business Park. The deal plants the San Francisco firm squarely within walking distance of Legacy West and The Shops at Legacy, right in the path of a steady wave of corporate relocations to the northern Dallas suburbs. The buyer is keeping the purchase price under wraps.
The sale, announced this week, saw Shorenstein acquire the asset from Spear Street Capital. The campus is being marketed as fully leased with long-term stability after completing tenant area upgrades in 2024. The Collin Central Appraisal District has pegged its assessed value at about $70.6 million, according to the release, as reported by The Real Deal.
Campus snapshot
The Tennyson, at 6105 Tennyson Parkway, is a multi-floor, two-building office campus originally completed in 2012 and laid out with large floor plates aimed squarely at corporate tenants. Marketing materials spotlight a fitness center, tenant lounges, and abundant parking among the on-site perks, the sort of amenities that tend to lure headquarters and regional office users.
According to the LoopNet listing, the property features modern common areas and four stories of rentable space, giving tenants a contemporary suburban campus setting a short stroll from Legacy’s shopping and dining.
Why buyers want Legacy
Investors have been zeroing in on the Legacy area as major corporate relocations and big-ticket public projects shore up office demand. Samsung’s plan to relocate its U.S. headquarters to Plano has put an extra spotlight on the submarket, according to Bisnow.
At the same time, Plano is pushing a roughly $700 million funding plan tied to a proposed Dallas Stars arena, a move that would further cement the area as a regional destination and bolster demand for well-located suburban office product, per reporting from KERA.
Deal work and market signal
The sale documents list Newmark vice chairmen Chris Murphy, Robert Hill, and Gary Carr, along with director Austin Sheahan, as the brokers representing Spear Street. The same report noted another June transaction involving Spear Street in Chicago, underscoring that the seller has been active on multiple fronts, as reported by The Real Deal.
For local market watchers, this Plano trade is another sign that institutional buyers are still willing to pay up for amenitized, well-leased suburban campuses even while the broader office market remains sharply segmented. Shorenstein’s acquisition adds a fully leased property in one of North Texas’ most active corporate corridors to its portfolio. The next things to watch will be leasing activity and any operational or amenity shifts the new owner rolls out as it folds the Tennyson into its broader holdings.
