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Massive renovations coming to this Addison shopping center

Dallas Business Journal

January 30, 2020

An 133,000-square-foot retail center in Addison is getting a massive facelift starting next month. The operator of Prestonwood Place, Northwood Retail, will oversee the renovations for the center.

Beyond an update to the existing building’s facades, the project will add 50,000 square feet of office space and a 15,000-square-foot park to the center.

In addition to the renovations, Northwood Retail is planning to reconfigure parking lots for better circulation and connectivity, incorporating new pedestrian walkways, as well as new landscaping throughout.

For renderings of the upcoming changes to Prestonwood Place, see the gallery at the top of this story.

“As we enter a new decade, our team is thrilled to reveal the renovation plans for Prestonwood Place,” said General Manager of Northwood Retail Neisha Vitello in a prepared 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.”

The first of four construction phases set to begin early next month with the expected delivery date for all improvements in early 2021.

Located at the corner of Belt Line and Montfort, the shopping center is adjacent to Addison’s Village on the Parkway development. Current tenants include Flower Child, Shake Shack, Chipotle, The Great Outdoors, Club Pilates and Orangetheory Fitness.

Northwood Retail is a privately held global real estate investment and management firm that was established by Northwood Investors. With properties across the U.S., the firm primarily has properties in Colorado, North Carolina, South Carolina and Texas.