A landmark North Texas shopping center is up for grabs.
Richardson Heights was out in the country when it opened its doors in 1956. Developers Lindsay Embrey and George Underwood bought hundreds of acres of farmland along U.S. Highway 75 to build the retail center to serve new residential neighborhoods.
Over the years, the five-building corner shopping center has been remodeled and seen tenants come and go.
Richardson Heights is now anchored by tenants including T.J. Maxx, Party City, Half Price Books and Alamo Drafthouse Cinema. The over 200,000-square-foot shopping center is more than 80% leased.
Commercial property firm Jones Lang LaSalle is marketing Richardson Heights for sale.
“Positioned with 175 feet of highly visible frontage on U.S. 75 within a dense neighborhood population in Richardson, the property caters to over 148,000 residents within three miles,” according to JLL. “Richardson Heights provides investors with immediate value-add opportunities.”
Since 2010, the shopping center has been owned by Houston-based investor Hartman.