May 21, 2024

One of the largest showroom campuses in Dallas’ Design District has just sold.

The Oak Lawn Design Plaza at 1444 Oak Lawn Ave. includes seven, 1-story buildings. Built in 1970, the more than 9-acre complex totals about 160,000 square feet.

The buildings were purchased by Asana Partners, the North Carolina-based investor’s second recent acquisition. The property at Oak Lawn and Dragon Street is occupied by 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 merchandise mix.”

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“1444 Oak Lawn’s prime location provides an opportunity to create something special for this neighborhood and significantly increase the retail offerings here,” Brad Kantrowitz, director at Asana Partners, said in a statement. “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.”

The purchase follows Asana’s recent acquisition of the nearby International on Turtle Creek showroom and office complex on Irving Boulevard. The 155,000-square-foot complex is one of the largest and most successful redevelopment projects in the Design District.

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 bought more than three dozen buildings in Dallas’ Deep Ellum.

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 U.S. Highway 75 in North Dallas. Asana is now working to redevelop the property along Walnut Hill Lane with new apartments.

In 2022, Asana purchased The Foundry District, a mixed-use project in Fort Worth’s Cultural District.

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