JLL Capital Markets neogiated the sale of Richardson Heights, a 201,433-square-foot shopping center in Richardson, Texas.
JLL represented the seller, Silver Star Properties REIT, and JAH Realty acquired the asset.
Constructed in the 1950s, Richardson Heights was the city of Richardson’s first shopping center and has become a staple for the community for the past 70 years. Now, the center is 79% leased and anchored by national, high performing tenants including Alamo Draft House, TJ Maxx and Half Priced Books.
Located at 100 South Central Expressway, the property offers 175 feet of highly visible frontage on US-75 and caters to over 148,000 residents within a three-mile radius. Richardson Heights is also surrounded by affluent and educated neighborhoods, leading to significant consumer spending for the property. Moreover, its proximity to Dallas and The University of Texas at Dallas attracts a diverse mix of families and young professionals, which have had more than a 20% population growth since 2010.
The JLL Investment Sales and Advisory team was led by Senior Managing Directors Adam Howells and Chris Gerard along with Associate Ben Esterer and Analyst Keenan Ryan.
