ADDISON - UBS Realty has purchased the 30-acre Village on the Parkway retail development.
The 360,418-sf Village on the Parkway is located at 5100 Belt Line Rd. and is anchored by a Whole Foods Market and a 12-screen AMC Theater.
The almost $40 million makeover of Village on the Parkway included a new Whole Foods Market store.
Village on the Parkway was most recently purchased in 2011 by Lincoln Property Co., The Retail Connection and Long Wharf Real Estate. At the time, the property suffered from high vacancy and deteriorating buildings.
The new owners tore down a vacant former department store building at the entrance to the complex to make room for the new Whole Foods Market. Another section was replaced with a parking garage and the cinema. The project is now about 90 percent leased.
UBS’ purchase of the development adds to its Dallas portfolio, which also includes the Galleria Dallas.
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