Austin-based Endeavor Real Estate Group has acquired its first mixed-use property in Dallas, marking an expansion into the city’s commercial real estate market. The firm purchased Preston Sherry Plaza, a 165,000-square-foot complex located at 8201 Preston Road. The terms of the deal were not disclosed, but the property was most recently valued at $63 million by the Dallas Central Appraisal District. Seattle-based Unico Properties was the previous owner.
Preston Sherry Plaza is a seven-story building featuring two floors of retail and five floors of office space. Current tenants include Hilltop Securities, Frost Bank, plastic surgeons, dermatologists, and Sevy’s Grill on the ground floor. The property was built in 1986 and underwent renovations this year. It is currently 93 percent leased. JLL managed financing for the transaction and will oversee leasing activities moving forward. Four River Capital, based in Dallas, partnered with Endeavor on the acquisition.
Endeavor Real Estate Group manages assets worth $5.6 billion and is recognized for major developments in Austin such as The Domain and Southpark Meadows. Recently, Endeavor hired Andrew Levy from JLL to lead capital markets operations and brought on Zach Johnston to expand its multifamily portfolio in North Texas. The company is also constructing a 780-unit student housing project near Texas Christian University named Morado on Berry.
The acquisition aligns with Endeavor’s strategy to invest across Sun Belt cities by targeting properties that can benefit from upgrades aimed at enhancing tenant experience. Preston Sherry Plaza’s location provides proximity to Southern Methodist University, Love Field Airport, and the upscale Preston Center area.
Despite broader challenges facing Dallas’ office market, landlords remain optimistic about Preston Hollow due to its affluent demographic profile and high-performing retail sector. According to CoStar data, rents for upscale retail spaces in this submarket range between $50 and $61 per square foot—among the highest rates in Dallas.
