Home Entertainment East Dallas’ popular Henderson Avenue entertainment strip is up for grabs

East Dallas’ popular Henderson Avenue entertainment strip is up for grabs

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East Dallas’ popular Henderson Avenue entertainment strip is up for grabs

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The largest section of one of Dallas’ most popular entertainment districts has just landed on the market for sale.

The offering includes more than a dozen restaurant and retail buildings stretching along about 10 blocks of Henderson Avenue between North Central Expressway and Ross Avenue.

The properties for sale include almost 124,000 square feet of urban retail space occupied by tenants including Sprout’s grocery, Henderson Tap House, Fireside Pies, Warby Parker and Tecovas.

Commercial property firm Jones Lang LaSalle is marketing the buildings, which are about 80% leased.

“The Henderson Avenue Portfolio spans over a mile of exceptionally well-located retail within the urban core of Dallas, linking the Park Cities and East Dallas neighborhoods,” Jones Lang LaSalle says in its marketing pitch. “The Henderson Avenue district has evolved over the last 20 years into one of Dallas’ premier pedestrian-friendly environments offering an eclectic mix of restaurants, digitally native retailers and service- oriented tenancy.”

The real estate stretches for about a mile between North Central Expressway and Ross Avenue.
The real estate stretches for about a mile between North Central Expressway and Ross Avenue.(Dallas Morning News files )

Since 2012, the choice real estate has been owed by Los Angeles-based CIM Group and its partner, Dallas’ Open Realty Advisors.

The Henderson properties were originally owned by Dallas’ Andres family.

Along with the restaurant and retail buildings, more than 4 acres of undeveloped blocks along Henderson are included in the sale.

In 2018, Dallas’ city council approved a controversial rezoning of those vacant properties to allow development of additional retail, offices and restaurants.

But construction on the project never moved ahead.

The building sites included in the sale offering are approved for more than 160,000 square feet of construction, according to JLL.

“Few development sites of this caliber exist, change hands or can create value day one through the current entitlements,” according to JLL. “Henderson Avenue is an exception in that it is a generational opportunity to control some of the most premier land sites with immediate upside. “

The area around East Dallas’ Henderson Avenue strip is one of the most rapidly redeveloping neighborhoods in the city.

Developers have built thousands of new apartments and townhomes in the area east of downtown, and more building projects are on the way.

The sale includes more than 4 acres along Henderson Avenue that were rezoned in 2018 for a combination of retail, restaurant and office construction.
The sale includes more than 4 acres along Henderson Avenue that were rezoned in 2018 for a combination of retail, restaurant and office construction.(Rendering / Open Realty Partners)

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