CarrAmerica Realty Corp. has acquired Sherry Lane Place, a 286,426-square-foot, 20-story, Class A office tower in Dallas, the company said today.
CarrAmerica will have a 20 percent ownership position in the project, the company and its partners in the project said.
The price was not disclosed. The seller, an affiliate of Cottonwood Partners, will maintain a minority interest in the new entity.
Sherry Lane Place is located at 5956 Sherry Lane, just east of the Dallas North Tollway and a few blocks south of the Northwest Highway. The project is 85 percent leased to tenants including the Bank of Texas, Abby Office Centers, the Park City Club and Morgan Keegan.
In Dallas, Texas, CarrAmerica owns, directly or through joint ventures, and/or manages 18 office buildings containing approximately 2.7 million square feet.
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