Deep Ellum Rodeo Chess — In It For The Long Game?

Is Asana Partners Playing a Corporate Game of Chess in Deep Ellum? A Checkmate in the Long Game?

Deep Ellum, Dallas’ vibrant hub of music, art, and nightlife, has always been a cultural chessboard where businesses, property owners, and community stakeholders vie for influence. But recent events surrounding the closure of Rodeo Dallas, a controversial bar at 2724 Elm St., have sparked whispers: is Asana Partners, a heavyweight in retail real estate, orchestrating a calculated move to secure a checkmate in this eclectic neighborhood? Could their aggressive legal push against Rodeo Dallas be less about public safety and more about a strategic play to acquire prime property or reshape Deep Ellum in their image?

The Opening Move: Rodeo Dallas Faces the Heat

On August 8, 2025, Asana Partners, a Charlotte-based firm with a hefty Deep Ellum portfolio, secured a temporary restraining order (TRO) against Rodeo Dallas, effectively shuttering the bar. Citing a laundry list of issues—underage drinking, drug use, loud crowds, and violent incidents, including a murder—Asana painted the venue as a public nuisance threatening the neighborhood’s safety. A judge later extended the TRO into a temporary injunction, backed by Asana’s $250,000 bond, keeping Rodeo Dallas’ doors locked. Adding fuel to the fire, the bar’s landlord, Westdale Real Estate Investment and Management, chained the doors shut days earlier on August 5, citing lease violations. The city of Dallas also weighed in, issuing a target letter over code violations and criminal activity.

On the surface, this looks like a united front to protect Deep Ellum’s community vibe. Asana’s Director of Asset Management, Chris Dalton, declared, “We believe this step is a win for safety in Deep Ellum and we remain committed to the neighborhood.” But could there be more to this story? Is this a knight’s gambit in a larger corporate chess game?

The Board: Asana’s Growing Empire in Deep Ellum

Asana Partners isn’t a small player. With 10.6 million square feet of retail and mixed-use properties across 25 U.S. cities, they’ve been steadily amassing assets in Deep Ellum, including the recent $35 million acquisition of the Skillman Live Oak shopping center in Dallas. Their strategy? Snapping up high-value, urban retail properties in vibrant neighborhoods and enhancing their appeal through redevelopment (like their $27 million Design District project). Deep Ellum, with its gritty charm and growing foot traffic, is a perfect fit for Asana’s playbook.

The Rodeo Dallas property, owned by Westdale, sits in the heart of this chessboard. If Asana could acquire it, it would bolster their control over Deep Ellum’s retail landscape. But here’s where the plot thickens: there’s no public evidence that Asana has made a direct offer for 2724 Elm St. So why go to the trouble of a costly legal battle, complete with a quarter-million-dollar bond, to shut down a single bar?

The Middle Game: Pressure Points and Hidden Motives

Rodeo Dallas’ attorneys have hinted at an ulterior motive, suggesting Asana’s crusade might stem from distaste for the bar’s clientele or business model rather than pure safety concerns. Could this be a smokescreen for a bigger play? By labeling Rodeo Dallas a “nuisance” and keeping it closed, Asana’s actions—combined with the city’s scrutiny and Westdale’s lockout—could make the property a headache for its owner. If Rodeo Dallas can’t operate profitably or faces ongoing legal battles, Westdale might see selling as the path of least resistance. And who better to swoop in than Asana, a firm with deep pockets and a clear interest in Deep Ellum’s future?

This isn’t to say Asana’s safety concerns are baseless. The documented incidents at Rodeo Dallas—shootings, drug use, and massive crowds—are serious. City officials, including Council Member Jesse Moreno, have backed the safety-first narrative, emphasizing that the issue isn’t about race or culture but about protecting the community. Westdale’s own actions against their tenant further suggest that Rodeo Dallas was a genuine problem. But in the high-stakes world of real estate, it’s not uncommon for firms like Asana to use legal leverage to shape a neighborhood’s trajectory. A closed bar could depress the property’s value, making it ripe for acquisition or forcing a shift toward tenants more aligned with Asana’s vision for Deep Ellum.

The Endgame: Checkmate or Community Win?

So, is Asana Partners playing a long game of corporate chess, positioning themselves for a checkmate by acquiring the Rodeo Dallas property or tightening their grip on Deep Ellum? The pieces are in play, but the board is murky. On one hand, their legal offensive could be a genuine effort to safeguard their investments and the neighborhood’s appeal—after all, a crime-ridden bar could scare off customers from their nearby properties. On the other hand, the outcome of this saga could conveniently align with Asana’s expansion goals, especially if Westdale decides the property is more trouble than it’s worth.

Asana’s track record shows they’re not afraid to play both offense and defense. In 2025, they put a 21-building portfolio in Alexandria, Virginia, up for sale after significant renovations, while continuing to buy assets like the Shops of Dunwoody in Atlanta ($35 million) and Westport Plaza in Costa Mesa ($25.7 million). Their $1.5 billion fourth fund, launched in 2024, gives them ample firepower to make strategic moves. If the Rodeo Dallas property becomes available, it’s hard to imagine Asana passing up the chance to add another prime piece to their Deep Ellum puzzle.

Your Move, Deep Ellum

The question remains: is Asana Partners’ fight against Rodeo Dallas a noble stand for community safety, or a cunning move in a corporate chess match? Are they eyeing a checkmate that reshapes Deep Ellum’s future, one property at a time? We may not know until the next move is revealed—perhaps a quiet acquisition or a redeveloped property under Asana’s banner.

What do you think? Is Asana playing a long game to dominate Deep Ellum, or are they genuinely protecting the neighborhood’s soul? Drop your thoughts in the comments, and let’s see if we can spot the next move on this urban chessboard!