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Dallas’ Gaedeke Group to invest $3.8M in Oak Lawn Plaza redo
September 3, 2014
Candace Carlisle - Dallas Business Journal
Dallas-based real estate investment firm Gaedeke Group LLC plans to bankroll a major renovation for Oak Lawn Plaza, an office building located in the high-trafficked entry to the Dallas North Tollway from the city's urban core.
The firm is one of a number of investment groups banking on the city's rising real estate values and putting money into their own office properties. Other office buildings, such as Thanksgiving Tower, Bank of America Plaza and 2100 Ross, are in the midst of multimillion dollar renovations.
The $3.8 million redesign of Oak Lawn Plaza will be a major change for the eight-story, 128,795-square-foot office building and should catapult the property into the 21st century, said Gaedeke Group CEO Sabine Gaedeke Stener.
Gaedeke Group has commissioned Dallas-based Morrison, Dilworth + Walls to create the new design for the 1.5-acre property at 2501 Oak Lawn. Anthony Reynolds of Gaedeke Group will oversee the project. Structure Tone is its general contractor.
The architecture group will replace the dark tones of the early 1980s building with a clean new look. The building was originally designed by Phillip Shepherd & Boyd Architects, which also designed the Mansion on Turtle Creek and The Crescent.
Plans for the redesign include expanding and extending the lobby, which will be similar to the owner's redesign of the lobby of One McKinney Plaza at 3232 McKinney Ave. The lobby redo will expand the space by 3,000 square feet and raise the height of the ceiling.
The makeover also includes commissioned artwork, a high-tech security desk, updated parking garage, redone plaza and redesigned lobby finishes.
Construction is scheduled to begin in October and is expected to take about eight months.
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