D CEO Commercial Real Estate Awards 2018: Best Retail Deal

Target at Preston Center

Best Retail Deal

The 55,000-square-foot lease for Target’s new urban format store at Westchester Drive and Berkshire Lane in Dallas was nearly five years in the making. Though Target has been growing its flexible-format stores in urban centers not conducive to typical 120,000-square foot stores, the retail space in Preston Center has not always been kind to big boxes, thanks to a variety of development difficulties. But CBRE’s Karla Smith, who represents Target in Texas, and EDGE Realty’s Michael Stern, who represents building owner Crow Holdings, worked to solve the likes of parking, store access, retail exclusivity, and other complex considerations. Shoppers can see the final result when the store opens in July.

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