Commercial
Texas
Asana adds office complex in Dallas’ Design District
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Asana snags another showroom campus in Dallas Design District
Purchase of seven buildings follows recent acquisition of the International
Asana Partners remains bullish on Dallas’ Design District, as it just acquired one of the largest showroom campuses in the area.
The Charlotte, North Carolina-based firm paid an undisclosed amount for the seven-building, 160,000-square-foot Oak Lawn Design Plaza at 1444 Oak Lawn Avenue, the Dallas Morning News reported.
The acquisition comes shortly after Asana purchased the International on Turtle Creek, a 155,000-square-foot office complex and showroom at 150 Turtle Creek Boulevard, also in the Design District.
The Oak Lawn Design Plaza’s tenants are mostly interior design and creative firms. The new owner aims to revamp the 9-acre campus as a “a sophisticated retail destination with a well-crafted merchandise mix.”
“1444 Oak Lawn’s prime location provides an opportunity to create something special for this neighborhood and significantly increase the retail offerings here,” Asana’s Brad Kantrowitz told the outlet. “We’re excited to build on our Design District portfolio with this acquisition and be the next steward of this critical component of the neighborhood.”
Asana, led by managing partners Terry Brown, Sam Judd and Jason Tompkins, has become a prominent player in North Texas real estate, through development and acquisitions.
The firm owns a band of properties across inner Dallas. It bought more than three dozen buildings in Dallas’ Deep Ellum neighborhood in 2017. Several years later, it acquired 421,000 square feet of office and retail space in Victory Park, northwest of downtown, the outlet said.
More recently, Asana purchased the Foundry District mixed-use development in central Fort Worth and the 200,000-square-foot Hill shopping center in North Dallas. The firm is now developing as many as 1,740 residential units at The Hill.
—Quinn Donoghue
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