Stockdale Investment Group struck a deal with Mixon Investment Co. Inc. to buy the 200,000-acre Preston Forest Shopping Center on the north side of Dallas. The seller had developed the 13-acre center in 1961, and decided in late 2019 to sell it.
Situated at Preston Road and Forest Lane, the shopping center is home to more than 23 tenants, including anchor tenant Whole Foods, as well as Staples, Walgreens, JoAnn Fabric and Crafts, Corner Bakery and Wells Fargo. The property is more than 95% leased, and Stockdale will also manage and lease the asset.
“We have been following this property for a decade because of its significance as a notable Dallas retail intersection,” said Stockdale Investment’s Joe Pastora. “It perfectly matches our core strategy of purchasing legacy properties in irreplaceable locations.”
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