Village on the Parkway, a 343,911-square-foot urban retail village anchored by Whole Foods Market and AMC Theatres in Dallas, recently sold to VOP Partners LLC. The price was undisclosed.

VOP plans exterior updates, the addition of more green space and free shuttle service for customers. Additionally, the new owner will densify the vacant pad across from Whole Foods.

Village on the Parkway was completed in 1981 as Sakowitz Village. The retail property was redeveloped in 2014, adding Whole Foods, AMC Theatre and updated restaurant concepts. The property currently consists of eight retail buildings home to tenants including Yard House, Hopdoddy, Sidecar Social and Pie Tap. At the time of sale, all tenants were open and operating, and a majority were back to pre-COVID foot traffic.

The retail property is situated on approximately 32 contiguous acres at 5100 Belt Line Rd. in Dallas’ Platinum Corridor, the city’s biggest office market. This infill location is at the intersection of Belt Line and Dallas North Tollway, with more than 200,000 vehicles per day. The center serves a trade area of approximately 790,000 residents. The property includes a vacant 1.5-acre land parcel and two other potential densification sites.

The JLL team representing the seller was led by Barry Brown, Chris Gerard, Ryan Shore, Jason Jacobs and Matthew Barge.

“There was tremendous investor interest in the offering as the property is extremely well positioned to continue its retail/mixed-use evolution,” says the seller team.