Oak Lawn News
Cosmic Cafe space on Dallas' Oak Lawn is officially on the market
The two buildings that housed the former Cosmic Café in Dallas' Oak Lawn neighborhood are officially for sale.
The restaurant closed in October 2021, but the property had been on the market in a very passive "listed online" manner for a couple of years.
Now it's being marketed by CBRE, the world’s largest commercial real estate services and investment firm. Those people don't fool around. CBRE’s Sierra Uselton and Arien Ramsire will represent building owner Praveen Sachdev.
The site, located at 2912 Oak Lawn Ave. consists of two buildings totaling 3,786 sq. ft. on 0.2 acres. The property is over 100 years old and is in a sought-after location with few vacancies, especially on Oak Lawn Avenue.
Originally called the Cosmic Cup, the café was founded by the late character actor Kumar Pallana, who became famous after appearing in Wes Anderson's The Royal Tenenbaums. Sachdev bought it and renamed it Cosmic Café in 1999.
When he closed the restaurant, Sachdev's plan was to to keep it open to host yoga classes, organized by his friend Jim Hunt, owner of Sun Yoga Center in Richardson. At the time, Hunt said that Praveen wanted to close the restaurant but still wanted to have something in the space.
"He doesn't want to make money out of it, neither do I. We're both doing this to offer something to the community," Hunt said at the time.
That was back in the throes of the pandemic. Not as many buyers. We're in boom times now.
There's no asking price. According to a CBRE spokesperson, the listing price is "subject to offer." OK hey let's offer $50. Here it is online: https://retailproperties.cbre.us/p/retail-real-estate-listings/Dallas-TX-75219/2912oaklawn#highlights
"CBRE is honored to market such an iconic Dallas property that has been a staple property along Oak Lawn Avenue for over 100 years,” Uselton, an associate with CBRE’s retail group, says. “The future of this historical site is highly anticipated by many who have come to know and love the restaurant during its tenure, and we are excited to be a part of the next phase of the Cosmic Cafe."