{"id":221830,"date":"2026-03-26T18:53:08","date_gmt":"2026-03-26T18:53:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/221830\/"},"modified":"2026-03-26T18:53:08","modified_gmt":"2026-03-26T18:53:08","slug":"24-story-dallas-north-tollway-tower-gets-new-owner","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/221830\/","title":{"rendered":"24-story Dallas North Tollway tower gets new owner"},"content":{"rendered":"

A 24-story office tower at LBJ Freeway and the Dallas North Tollway has a new owner.<\/p>\n

Estein USA and Vanderbilt Office Properties acquired Pinnacle Tower<\/a> from New York Life earlier this month. The purchase price was not disclosed, but the partnership secured a $100 million mortgage loan from Goldman Sachs to fund the deal, records show.<\/p>\n

Calls to Estein USA and Vanderbilt representatives were not returned before publication.<\/p>\n

The roughly 550,000-square-foot tower in Farmers Branch is 88% leased. JLL Senior Managing Director Blake Shipley, Managing Director Gini Rounsaville and Senior Vice President Ashley Curry will handle office leasing for the property located at 5005 LBJ Freeway.<\/p>\n

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\u201cPinnacle Tower\u2019s strategic location at the epicenter of Dallas\u2019 incredible growth story is what sets it apart from other offerings,\u201d Lance Fair, COO and CIO at Estein USA, said in a statement. \u201cIts sustained ability to attract and retain corporate users is a testament to a level of excellence that withstands the test of time.\u201d<\/p>\n

The tower was built in the late 1980s. New York Life Investors and Dallas\u2019 Encore Enterprises acquired the property in 2016<\/a> for about $95 million. <\/p>\n

The owners then spent $9 million on major renovations to the property. The high-rise was previously called Occidental Tower. <\/p>\n

The property is one of several high-rise office towers to change hands in recent months.<\/p>\n

In December, Crescent Real Estate purchased the 19-story high-rise at 2100 McKinney Ave. from the seller, a joint partnership between Metropolitan Life Insurance Co. and New York Common Fund.<\/p>\n

The sales price wasn\u2019t disclosed, but Crescent obtained $170.4 million in loans to fund the deal, records show.<\/p>\n

Crescent also purchased the Texas Capital Center at 2000 McKinney Ave. in October from German-based seller Union Investment.<\/p>\n

The tower sold for just shy of $300 million. It was the largest office transaction last year in Dallas-Fort Worth.<\/p>\n","protected":false},"excerpt":{"rendered":"A 24-story office tower at LBJ Freeway and the Dallas North Tollway has a new owner. Estein USA…\n","protected":false},"author":2,"featured_media":221831,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[129,102,160,162,161,111],"class_list":{"0":"post-221830","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-plano","8":"tag-commercial-real-estate","9":"tag-dallas","10":"tag-plano","11":"tag-plano-headlines","12":"tag-plano-news","13":"tag-real-estate"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/221830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=221830"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/221830\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/221831"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=221830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=221830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=221830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}