Dallas Preston Oaks center sold in Preston Hollow

DALLAS – Regency Centers Corp. has purchased the 103,503-sf Preston Oaks shopping center at the southeast corner of Preston Rd. and Royal Ln. in the Preston Hollow neighborhood.

The shopping center was substantially redeveloped in 1991 and more recently remodeled for the new H-E-B Central Market, which opened in 2012. Other major tenants include Gap, Pier 1 Imports and White House Black Market.

“The historically high occupancy rates and notable tenant sales performance made Preston Oaks a desirable addition,” said Regency Centers’ Stuart Brackenridge.

Regency Centers owns 11 centers in the Dallas area with 809,000 sf.

A company controlled by Fort Worth-based Trademark Property Co. sold the center.

In 2012, the two north corners of Preston Rd. and Royal Ln. were sold to Houston-based AmREIT for $62 million.