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ajor investment sales are resurfacing in the DFW area, with a notable transaction involving International Plaza II, a 15-story Class A office building in Far North Dallas. Shorenstein Investment Advisers acquired the 388,000-square-foot property from Taconic Capital for $98.7 million, or nearly $202 per square foot. The San Francisco-based buyer secured a $78.3 million loan from JP Morgan to facilitate the deal.

    Located at 14221 Dallas Parkway, the tower sits along the Dallas North Tollway and features an array of amenities, including a food hall, coffee and wine bar, gym, conference centers, and event center. With a 93% occupancy rate, tenants include prominent companies such as Freeman, Interstate Batteries, and Forvis.

    The sale highlights the enduring "flight-to-quality" trend in DFW, where high-end office spaces continue to attract investors. Far North Dallas is one of the region's most robust submarkets, with over 2.2 million square feet of new office space slated for construction, 65% of which has already been pre-leased.

    The recent interest rate reduction by the Federal Reserve may further boost commercial transactions like this one, as experts anticipate increased investor activity in commercial real estate to hedge against inflation and capitalize on higher yields compared to bonds. Shorenstein's acquisition marks its first investment in DFW, expanding its portfolio of office and mixed-use properties across Texas cities, including Austin and Houston.