Located at the intersection of Ross and Greenville Avenues near Henderson Ave, this area is a dense urban location just two miles northeast of downtown Dallas. The Lower Greenville and Henderson areas are experiencing a dramatic revitalization with many new restaurants, retail establishments, high end multifamily and condo developments. Currently Ross Ave is experiencing the same revitalization which further positions Ross Greenville Crossroad's ability to capture the benefits of this growth.

Gideon purchased the property in December 2013 from the original developer who built the buildings in 1938. At the time of acquisition the property was approximately 70% leased at well below market rates and in need of major redevelopment.

Glidden Paint Company occupied over 45 % of the building and had over a year remaining on its lease. This presented Gideon with an opportunity to study the market, the property, and decide on an appropriate redevelopment plan while Glidden completed it's lease term.

On the corner existed an old gas station whose lease Gideon terminated in order to re-tenant the space. Specific challenges were addressed with respect to necessary environmental regulations and requirements, such as underground tank removal and air monitoring.

Additionally, the redevelopment needs of the property included asbestos remediation, new roof, sewer line, sprinkler system and a new grease trap that will service multiple restaurants. 

Currently, Gideon’s team has achieved 87% occupancy with only one remaining vacancy. The redevelopment, aggressive leasing and marketing have allowed us to achieve rents substantially above those at the time of acquisition.

Gideon’s plan is to hold the property for long term appreciation and cash flow to the investors.

 

Ross Greenville Crossroads

Dallas, Texas