Friday, September 19, 2014

Deal in works to sell Dallas Design District buildings

The pending sale involves more than a dozen Dallas Design District buildings. (Steve Brown)
A Dallas retail and commercial real estate investor and developer is in talks to buy a big chunk of the Dallas Design District.
Dunhill Partners is negotiations to acquire multiple buildings in the district northwest of downtown, real estate brokers say.
The properties have been for sale for several months by Houston-based Lionstone Group which acquired the real estate in 2007.
The more that a dozen retail and showroom buildings are located along Oak Lawn Avenue, Hi Line Drive and Stemmons Freeway.
The acquisition includes the 7.5-acre Decorative Center complex at Oak Lawn and Hi Line and the Dallas Design Center on Stemmons.
Commercial property firm JLL has been marketing the properties for sale.
Most of the former warehouses had been renovated into wholesale showrooms, artist’s studios, retail and office space.
Dunhill Partners’ holdings include multiple shopping centers in Texas.
In the Dallas area, Dunhill owns Southlake Marketplace in Southlake and the Shops at Central Park in Bedford.