Newmark Arranges Sale of The Tennyson, a 273,574-Square-Foot Class A Office Campus in Plano, Texas

June 12, 2026 9:00 AM

Newmark announces the Company has arranged the sale of The Tennyson, a two-building, Class A office campus totaling approximately 273,574 square feet in Plano, Texas.

Newmark Vice Chairmen Chris Murphy, Robert Hill and Gary Carr and Director Austin Sheahan represented the seller, Spear Street Capital, in the transaction. Executive Vice Chairman Ramsey Daya and Senior Managing Director Andrew Porteous arranged acquisition financing on behalf of the buyer, Shorenstein Properties, with support from Vice Chairman Clint Frease, Senior Managing Director Chris McColpin and Director Josh Francis.

"Investor appetite for differentiated office product in high-growth Sun Belt markets remains strong, particularly for assets that offer an elevated workplace experience and long-term operational upside," said Murphy. "As capital continues to be selective, properties with recent reinvestment and strong market positioning are standing out in today's environment."

Originally completed in 2012, The Tennyson received significant capital improvements in 2024, including upgrades to the fitness center, lobby, tenant lounge and conference facilities. The campus is currently 100% leased with a weighted average lease term of approximately 6.6 years, providing stable, in-place income.

"The Tennyson represented a rare opportunity to acquire a fully leased, institutionally maintained office campus in one of the most dynamic submarkets in the country," said Hill. "With significant recent capital investment, strong credit tenancy and long-term lease duration, the asset is well-positioned to deliver durable cash flow and long-term value."

Located in Legacy Business Park, the property offers immediate access to the Dallas North Tollway and is within walking distance of Legacy West and The Shops at Legacy, featuring more than 100 dining and retail options. The amenity-rich campus includes a fitness center, café, tenant lounge and outdoor spaces, and is surrounded by a strong corporate base, with major employers such as Toyota, JPMorgan Chase, PepsiCo and the future AT&T headquarters nearby.

According to Newmark Research, investor demand for high-quality office assets in Sun Belt markets remains selective but durable, with capital increasingly focused on properties offering strong amenity packages, leasing momentum and attractive going-in basis. As the office market continues to reset, assets with clear pathways to stabilization are attracting both institutional and private capital.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of March 31, 2026, Newmark and its business partners together operated from over 185 offices with more than 9,600 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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