DALLAS—A Dallas-based limited partnership has acquired Lake Highlands Village, a Tom Thumb shadow-anchored community center and office project located at 9090 Skillman Street.
Derek Schuster and Kevin Butkus with Weitzman handled negotiations on behalf of the seller.
Lake Highlands Village, located at Skillman Street at its intersection with Audelia, incorporates three buildings totaling 100,000 square feet. Concepts in the project’s retail space include The UPS Store, plus several restaurants, services and medical users, among others.
The purchaser acquired the property as a value-add investment and plans renovations and re-merchandising for the 50,000-square-foot retail building, which is currently 50 percent occupied. The new ownership is also working on plans for the office portion of the project, which is vacant.
Lake Highlands Village benefits from its location in a high-traffic corridor and a dense trade area with approximately 168,000 people within a three-mile radius. The center also benefits from a daytime population of more than 184,000 within the radius, thanks to its location along the IH-635 commercial corridor.