Preston Commons

Property Overview

Preston Commons is a three-building, Class A office park located in the highly coveted Preston Center submarket of the Dallas/Fort Worth area. The property won the 2015 Office Building of the Year (TOBY) award in the Renovated Building category from the Building Owners and Managers Association (BOMA).   The 427,799-square-foot property consists of the bank building built in 1958 and the East and West Towers built in 1986, all renovated from 2010 to 2013, including extensive common area renovations, system upgrades and a new roof. Two of the buildings in Preston Commons received LEED-EB certification in 2012 from the U.S.Green Building Council and carry an investment-grade tenant list, including JP Morgan Chase, Wells Fargo and Key Bank. Building amenities include two conference facilities, a Wi-Fi café, 24-hour security and an upscale bar and grill.

The Preston Center submarket is prominently located in close proximity to Dallas’ most prestigious residential neighborhoods and is considered a perennial leader in Dallas in terms of occupancy and rental rates.

Investment at a Glance

Location: Dallas, TX

Property Type: Class A Office

Acquisition Date: June 19, 2013

Purchase Price: $110,000,000

No. of Buildings: 3

No. of Stories: 8-9

Square Footage: 3 / 427,799 SF

Year Built: Bank: 1958, E/W Towers: 1986/2010-2013

Leased Percentage (at the time of Acquisition): 85%