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Preston Center tower brings $36.5 million. (hotel construction)
New owners to explore feasibility of putting a luxury hotel on the property
PRESTON CENTER - L&B Real Estate Counsel of Dallas has acquired the 16-story, 8333 Douglas office tower in prestigious Preston Center for about $36.5 million - and the deal could mean a new luxury hotel for the area.
The 252,200-square-foot building was purchased from Textel Partners on behalf of a public pension fund that is a client of L&B. That client, whom L&B President and CEO Thomas Lardner would not identify, is interested in putting a hotel on the property's surrounding 4.3 acres.
"One of our priorities is to aggressively explore the feasibility of adding a boutique luxury …
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