PegasusAblon and Lionstone Teaming Up on New Preston Center Office Building

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.

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