New York-Based Investor Gobbles Up Henderson Avenue Properties

More than a dozen properties changed hands last week on the popular Henderson Avenue entertainment district. The real estate stretches for about a mile between North Central Expressway and Ross Avenue. The buyer of the properties, Acadia Realty Trust, owns numerous properties in cities such as New York, Los Angeles and Boston, amid others. The more than 4 acres of undeveloped blocks along Henderson included in the sale were rezoned in 2018 to allow construction of retail, offices and restaurants. In addition, the current structures add up to 160,000 square feet of space.

According to the Dallas Morning News, building in the nearby area is robust. East Dallas neighborhoods around the Henderson Avenue strip are rapidly redeveloping. Developers are building hundreds of new apartments and townhomes in the area east of downtown.

Acadia Realty has not disclosed it plans regarding the Dallas transaction. The Henderson Avenue properties are Acadia’s first purchase in Texas.