Austin-based Endeavor Real Estate Group has acquired Preston Sherry Plaza, a 165,000-square-foot mixed-use property in Dallas’ Preston Hollow neighborhood. The transaction marks Endeavor’s first foray into the Dallas mixed-use market. The purchase was completed off-market, and while financial terms were not disclosed, the Dallas Central Appraisal District most recently valued the complex at $63 million. Seattle’s Unico Properties was the previous owner.
The seven-story building at 8201 Preston Road features two floors of retail space and five floors of offices. Tenants include Hilltop Securities, Frost Bank, as well as several medical practices. Sevy’s Grill, a well-known local restaurant, is located on the ground floor. Built in 1986 and renovated this year, the property is currently 93 percent leased. JLL managed financing for the deal and will also handle leasing responsibilities. Four River Capital of Dallas is participating as a partner.
Endeavor Real Estate Group manages assets totaling $5.6 billion and has played a significant role in Austin’s development with projects such as The Domain and Southpark Meadows. Recently, Endeavor hired Andrew Levy from JLL to oversee capital markets operations and brought on Zach Johnston to expand its multifamily presence in North Texas. The company is also developing Morado on Berry, a 780-unit student housing project near Texas Christian University.
The acquisition aligns with Endeavor’s broader Sun Belt strategy aimed at enhancing tenant experiences through targeted upgrades in high-value areas of Dallas. Preston Hollow’s proximity to Southern Methodist University, Love Field Airport, and Preston Center adds appeal to the investment.
Rents for upscale retail in the Preston Hollow submarket are among the highest in Dallas, ranging from $50 to $61 per square foot according to CoStar data (https://www.costar.com/).
