Asana Partners acquires The Hill, expands presence in Dallas
DALLAS, TX (August 12, 2021) – Today Asana Partners closed on the purchase of The Hill, a mixed-use neighborhood center located at the intersection of Walnut Hill Lane and Central Expressway. The 200,000 square-foot property boasts a mix of shops and restaurants, wellness-centered retailers, and creative office suites that serve infill Dallas neighborhoods including Preston Hollow, Lake Highlands, and Lakewood. Asana’s initial plans are to improve the existing buildings and outdoor space while implementing a comprehensive marketing program to energize the center.
“This investment deepens our commitment to Dallas and expands our portfolio of neighborhood mixed-use properties in dynamic locations,” said Brian Purcell, Managing Director at Asana Partners.
Built in 1977, The Hill features walkable shops, fitness studios, restaurants, and office space surrounding a center courtyard that has become a community attraction. Well-known retailers include Snooze, Tacodeli, Clean Juice, CAMP, and Movement (coming soon), among others. While drawing from the surrounding neighborhoods, the property is proximate to the Dallas Presbyterian Hospital campus and adjacent to the Walnut Hill station on DART’s Red Line.
“Investing immediately in renovations to the courtyard and existing buildings will position The Hill to attract high-quality retailers and creative office tenants that complement the current tenant mix,” added Brad Kantrowitz of Asana Partners. “Long term, we will explore densification opportunities with the goal of creating a unique mixed-use community with a full range of amenities.”
In addition to The Hill, Asana Partners owns 43 properties in Deep Ellum and more than 400,000 square feet of commercial space in Victory Park.
JLL served as advisors to the seller in the transaction.
Media Contact:
Julie C. Ducworth
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julie@jcdcommunications.com