Grocery-Anchored Preston Oaks Changes Hands in Dallas

by Nate Hunter

Dallas — Regency Centers Corp. purchased the 103,503-square-foot center.

Dallas — Regency Centers Corp. has acquired Preston Oaks, a 103,503-square-foot grocery-anchored center in Dallas, in an off-market transaction. The property is located in the Preston Hollow neighborhood at the southeast corner of Preston Road and Royal Lane. The neighborhood center, which was redeveloped in 1991, is anchored by a 30,439-square-foot H-E-B Central Market. Additional tenants include Gap, Pier 1 Imports and White House Black Market.

“Preston Oak fits Regency’s standards for a dominant shopping center, including infill location, market-leading anchors and population density,” says Stuart Brackenridge, vice president of acquisitions and dispositions for Regency Centers. “The historically high occupancy rates and notable tenant sales performance made Preston Oaks a desirable addition. With a high demand for quality retail space in this trade area given the strong demographics and high barriers to entry, Preston Oaks provides Regency with a dynamic center at a premier Dallas address.”

In addition to Preston Oaks, Regency Centers owns 11 centers in metro Dallas, totaling 809,000 square feet.

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