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Addison retail center will be revamped with park and offices
The Dallas Morning News
January 29, 2020
A Far North Dallas shopping center is getting a redo that will include offices and a new public space.
The 133,000-square-foot Prestonwood Place shopping center is on the southeast corner of Belt Line Road and Montfort Drive in Addison, just east of the Dallas North Tollway.
Built in the late 1970s and early 1980s, the retail property is on one of the area’s high-traffic corridors.
Operator Northwood Retail plans to bring 50,000 square feet of new office space to the project plus a 15,000-square-foot park.
Construction will start next month.
“As we enter a new decade, our team is thrilled to reveal the renovation plans for Prestonwood Place,” Neisha Vitello, general manager of Northwood Retail, said in a statement. “This property is a vital aspect of the Addison community, and we look forward to seeing how these improvements positively affect our tenants and customers.”
Construction will occur in four phases with a completion set for early next year. Shop Cos. is leasing the retail.
Current tenants in the property include Flower Child, Shake Shack, Chipotle, The Great Outdoors, Club Pilates and Orangetheory Fitness.
Northwood Retail leases and manages retail and mixed-use properties in Texas, Colorado, North Carolina and South Carolina.
“The development team at Northwood Retail has been working on the renovation plans for quite some time, and we are excited to finally share them with the community,” said Sandy Spurgin, head of development of Northwood Retail. “The renovations and planned improvements will be transformational for Prestonwood Place and will help transition the project into a vibrant mixed-use environment.”