Preston Plaza 17950 Preston Rd

Dallas leads the nation (according to Placer.ai) in back-to-the-office statistic and it isn’t even close. Year over year, the data indicates a 25% increase in office usage. These metrics align with reality. Attorneys take depositions in conference rooms, accountants review tax filings in offices and dentists don’t make house calls. Some businesses can thrive out of the office but the typical suburban office tenant relies on a professional setting to host meetings and interact with clients and coworkers. Preston Plaza fits neatly into this category with tenancy that reads like a “101” intro-class for suburban office: Law firms, energy companies, wealth managers, doctors, a title company, a bank, home healthcare, information technology, etc.
The opportunity at Preston Plaza is to continue pursuing small, suburban office tenants that are the bread and butter of North Dallas, while backfilling larger vacancies that were created in the last year. When you consider the fundamentals of an attractive acquisition basis, dynamic location and in-place amenities, then layer in fresh capital to aggressively pursue tenants, the result is a range of repositioning and possible development strategies in the nation’s strongest market for job and population growth. Preston Plaza is uniquely positioned to appeal to the surrounding residents and provide a vibrant live-work-play location on Preston Road that avoids the daily grind of the Dallas North Tollway. Preston Plaza offers an unparalleled mixed-use amenity base and prestige of a true Class A office environment amongst the mostly Class B competitive set on Preston Road.
Available at a staggering discount to replacement cost (est $450/sf), Preston Plaza is located on a highly coveted and efficient 6.29-acre redevelopment site. The existing occupancy (36%) offers contractual revenues to operate the building and bridge the gap while pursuing zoning and entitlements for a reimagined use of a true in-fill location.