DALLAS, May 2009 – The anticipated sale of Highland Park Village shopping center closed on Wednesday, May 20th. The property has been purchased by HP Village Partners, Ltd., an entity owned by Highland Park natives Ray and Heather Washburne and Stephen and Elisa Summers. Management of the property will be handled by Venture Commercial Real Estate Company.
The new owners are all lifelong residents of Highland Park and appreciate the chemistry that makes the Village appealing to neighborhood residents and visitors alike. “We have great respect for the stewardship shown by the Henry S. Miller family over the past 33 years and look forward to continuing the tradition of this community asset,” says Ray Washburne, General Partner of HP Village Partners, Ltd. “The outstanding heritage of Highland Park Village is a legacy with which we are excited to take forth for many years to come.” Washburne is also the chief executive officer of Charter Holdings, a Dallas based real estate investment company.
Stephen Summers, in addition to his responsibilities as Principal of Expedition Capital Partners commercial real estate firm, will be the primary contact for the leasing of Highland Park Village. “Our vision includes a complete renovation of the movie theater which will result in it offering an experience unparalleled by any other theater in the area. We are also considering the possibility of additional restaurants,” says Summers. “Our leasing efforts will be focused on the delicate balance between retail, service and restaurant tenants that is vital in keeping Highland Park Village as one of the prime shopping and dining destinations in the country.”
Built in 1931 and widely regarded as the country’s first true shopping center, Highland Park Village is internationally recognized for its architectural significance and mix of the world’s best-known upscale retailers. Situated on a coveted ten acres at the crossroads of Preston and Mockingbird Roads, the Village is home to Hermès, Carolina Herrera, Chanel, Tory Burch, Scoop NYC, Ralph Lauren, Harry Winston and Escada, among others, as well as five acclaimed eateries. In 2000, Highland Park Village was named a National Historic Landmark. Complimentary valet parking is available.