One of the largest showroom campuses in Dallas' Design District has been sold.
Oak Lawn Design Plaza (1444 Oak Lawn Avenue) has seven single-story buildings. Built in 1970, the complex spans over nine acres and totals approximately 160,000 square feet.
The buildings were purchased by Asana Partners, the North Carolina-based investor's second recent acquisition. The Oak Lawn and Dragon Street properties are home to a variety of design firms and other businesses.
The new owners plan to reposition the campus as a “sophisticated retail destination with a well-crafted product mix.”
“1444 Oak Lawn's prime location creates something special for this neighborhood and provides an opportunity to significantly increase our retail offerings here,” Brad Kantrowitz, director of Asana Partners, said in a statement. It is stated in “We are excited to strengthen our Design District portfolio with this acquisition and become the next stewards of this important element of the District.”
The acquisition follows Asana's recent acquisition of the International on Irving Boulevard showroom and office complex near Turtle Creek. The 155,000 square foot complex is one of the Design District's largest and most successful redevelopment projects.
Just across Oak Lawn from Asana's new holdings, developer Quadrant Investment Properties is finishing construction on a 10-story office building.
Asana Partners is a major investor in North Texas. In 2017, the investor purchased more than 30 buildings in Dallas' Deep Ellum neighborhood.
Asana Partners purchased 421,000 square feet of office and retail space in Victory Park northwest of downtown in 2019.
Two years ago, the investor acquired The Hill Shopping Center on Route 75 in North Dallas. Asana is currently working on redeveloping land along his lane in Walnut Hill with new apartments.
In 2022, Asana purchased The Foundry District, a mixed-use project in Fort Worth's Cultural District.
