Wednesday, May 25, 2022 May 25, 2022
62° F Dallas, TX
Development

PegasusAblon and Lionstone Teaming Up on New Preston Center Office Building

The 171,583-square-foot project, which will be built to LEED Silver certification, is being branded as the Terraces at Douglas Center, in reference to its upper-floor balconies.
By  |
Terraces at Douglas Center
The Terraces at Douglas Center is expected to be ready for occupancy in 2017.

Preston Center, one of the tightest submarkets in North Texas,will soon have additional inventory to help meet demand. Houston-based Lionstone Investments is teaming up with longtime partner PegasusAblon to build a new 12-story office tower on Berkshire Lane between Douglas Avenue and the Dallas North Tollway.

Designed by Dallas-based HKS Inc., the 171,583-square-foot project will be built to LEED Silver certification. It’s being branded as the Terraces at Douglas Center, in reference to its upper-floor balconies.

Lionstone and PegasusAblon also own two adjacent office properties, 8333 Douglas and 8343 Douglas. Going forward the three-building complex will be known as Douglas Center.

Dan Dabrowski, founding partner of Lionstone, said the new tower will appeal to “established and young, creative firm” seeking a walkable urban experience. “The Terraces at Douglas Center will add some of the highest quality, amenity-rich space in the submarket,” he said.

The new tower is expected to be ready for occupancy in the first quarter of 2017.

Terraces 2
The building’s name touts its upper-floor balconies.

Related Articles

Image
Commercial Real Estate

Deadline Extended: D CEO’s Commercial Real Estate Awards

The program honors North Texas’ top projects, transactions, dealmakers, and industry leaders.
Image
Commercial Real Estate

Nominate Now: D CEO’s 2021 Commercial Real Estate Awards

A new category has been added to this year's program—which honors projects, deals, and industry executives—for emerging leaders under 40.
Image
Awards

Nominate Now: D CEO’s 2022 Commercial Real Estate Awards

A new category was added this year to highlight hospitality projects in the region.