Highland Park Village owners buy a stake in Charlotte’s upscale shopping center

The house owners of Highland Park Village are increasing their profile as luxurious retail landlords in many towns.

HP Village Administration explained Tuesday that it has purchased a stake in the upscale Phillips Area in Charlotte, N.C., and will be leasing and marketing and advertising the property.

Phillips Place is a 163,000-square-foot retail and cafe heart in Charlotte’s upscale SouthPark community.

HP Village, led by Ray Washburne and Stephen Summers, bought a 45% share in Phillips Spot by way of A.G. Hill Companions from the Harris household in Charlotte, which built the European-model village middle on loved ones land in 1997. The sale selling price wasn’t disclosed.

The Dallas business wishes to continue developing up its portfolio of luxurious retail, Washburne explained. “We can come in with our cadre of interactions and carry in on-trend vendors with the present regional tenants presently there. “

RH Gallery not too long ago opened in Phillips Place, and the heart has Charlotte’s most upscale men’s apparel retailer and jeweler, he stated. The Harris family members, which has generally been an office developer and has usually partnered in the mid-Atlantic states with Dallas-based mostly Lincoln Home Co., approached HP Village Management about the sale.

“The demographics are the best in the city,” he claimed. “It’s variety of the Highland Park Village of Charlotte.”

Phillips Place not long ago obtained approvals to establish a 10-story business office developing. Washburne mentioned it can dwelling a long run Park Dwelling personal social club identical to the a single that opened in Highland Park Village in 2018.

HP Village Administration is also leasing and marketing Knox Street for the proprietors of 70% of the procuring district, a group built up of Michael Dell’s family trust and two Dallas-based mostly organizations, Trammell Crow Co. and The Retail Connection.

In Aspen, Colo., HP Village also owns and manages a few retail structures in the mountain town’s downtown. Individually, Washburne’s Constitution Holdings just bought Allen’s Watters Creek purchasing center.

The story was current at 2 p.m. to transform the minority stake to 45%.

Twitter: @MariaHalkias

Searching for additional retail coverage? Simply click here to go through all retail news and updates. Click on below to subscribe to D-FW Retail and more newsletters from The Dallas Early morning Information.