Highland Park Village house owners acquire a stake in Charlotte’s upscale buying heart

The homeowners of Highland Park Village are boosting their profile as luxurious retail landlords in numerous towns.

HP Village Administration mentioned Tuesday that it has acquired a stake in Charlotte’s upscale Phillips Position and will be leasing and promoting the home.

Phillips Spot is a 163,000-square-foot retail and restaurant center in Charlotte’s upscale SouthPark neighborhood.

HP Village, led by Ray Washburne and Stephen Summers, acquired a 49% share in Phillips Area by A.G. Hill Partners from the Harris household in Charlotte, which developed the European-design village middle on family land in 1997. The sale selling price was not disclosed.

Phillips Put searching center in Charlotte, N.C.

The Dallas company needs to continue on setting up up its portfolio of luxurious retail, Washburne explained. “We can arrive in with our cadre of relationships and bring in on-craze merchants with the existing nearby tenants currently there. “

RH Gallery recently opened in Phillips Area, and the centre has Charlotte’s most upscale men’s apparel retailer and jeweler, he explained. The Harris household, which has mainly been an business developer and has frequently partnered in the mid-Atlantic states with Dallas-based Lincoln House Co., approached HP Village Administration about the sale.

“The demographics are the finest in the metropolis,” he mentioned. “It’s sort of the Highland Park Village of Charlotte.”

Phillips Area not long ago obtained approvals to make a 10-tale office environment building. Washburne explained it can household a long term Park Household private social club identical to the one that opened in Highland Park Village in 2018.

HP Village Management is also leasing and promoting Knox Road for the proprietors of 70% of the purchasing district, a group produced up of Michael Dell’s spouse and children rely on and two Dallas-based mostly businesses, Trammell Crow Co. and The Retail Connection.

In Aspen, Colo., the HP Village also owns and manages three retail buildings in the mountain town’s downtown. Individually, Washburne’s Charter Holdings just acquired Allen’s Watters Creek browsing centre.

Twitter: @MariaHalkias

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