Announcing the Terraces at Douglas Center

August 11th, 2015 by Jennifer Smart

Lionstone Investments, the Houston-based national real estate investment firm, and Dallas-based real estate developer PegasusAblon announced today they will begin construction of a new 12-story, Class A office tower in the heart of Dallas’ Preston Center submarket.  The new building is called the Terraces at Douglas Center, and it is expected to be completed in the first quarter of 2017.

The Terraces, a 12-story, 171,583 SF office tower, will be located at 5960 Berkshire, strategically positioned just off Douglas Avenue at the entrance of the Preston Center office submarket. When complete, the Terraces, named for the balconies on the building’s upper floors, will be an integral piece of the Preston Center skyline, featuring permanently unobstructed views of North Dallas from upper floors. Designed for the modern businessperson, the Terraces will be built to LEED Silver certification and will feature a service-centered concierge and security program, contemporary design and high-end finishes throughout.

In addition, Lionstone Investments and PegasusAblon announced a new branding for their existing office towers at 8333 Douglas and 8343 Douglas, uniting these two towers with the Terraces as “Douglas Center.” Each property will retain its unique name alongside the new identity.

“Preston Center is the city’s most sought-after submarket, and the Terraces at Douglas Center  will add some of the highest quality, amenity-rich space in the submarket,” said Dan Dubrowski, Founding Partner at Lionstone Investments, “The property is designed with the 21st century user in mind, offering tenants an environment that appeals to established and young creative firms alike, all in a walkable, urban experience.”

“The development of a brand new high-touch, high-service property, along with the rebranding of the entire site as Douglas Center allows us to unite the Terraces with our existing buildings at 8333 Douglas and 8343 Douglas while increasing the value of the entire project for both our tenants and our investors,” said Michael Ablon, Principal of PegasusAblon.

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