The repositioning will entail renovations to the lobby, entrance and conference rooms plus adding valet parking and doormen, WiFi and a specialty coffee shop and fitness center. The renovations will take about six months to complete. Then, Landau says, rents will be a firm $28 per sf. "What we liked about the deal is we think the existing tenants are well below market," he says.

Landau says the third tower's tenant roster has no immediate roll. Its lead tenants, Arthur J. Gallagher Inc. has 22,841 sf locked down until January 2013 and KBA LLP has roped off 20,106 sf until August 2013.

Stream's attack plan will be to "articulate to the market the building's rightful position in the marketplace," Jon Altschuler, managing director and partner, says. "There's simply no high-quality space available in the corridor and we control a hefty portion. We've improved rates at Chase Tower in the Downtown $5 per sf and we've driven occupancy more than 10 percentage points in less than one year."

Holliday Fenoglio Fowler LP's Dallas team brought the 12.2-acre trophy trio, complemented by 4,539 spaces in two parking garages, to market last fall. Sources say the offering triggered a heated competition among world-class institutions although some players did an early fold because the stakes were too rich. At one point, rumors were running fast and furious that the deal had cratered because it failed to make the year-end closing roster. The reality is the buyers had exercised their rights to extend. The HFF team isn't discussing the deal due to the confidentiality clause, limiting its comment to just to fact that it had closed at last.