DALLAS-After months of speculation, Henry S. Miller Interests has sold the 235,000-square-foot Highland Park Village to a local partnership. Though the sales amount was not released, estimates have the historic retail center selling for anywhere between $150 million and $170 million.

According to a release discussing the sale of the asset at Preston Road and Mockingbird Lane, the new owners are Highland Park natives Ray and Heather Wasburne and Stephen and Elisa Summers. The property’s management will be handled by Venture Commercial Real Estate. Rumors have been flying since the first of the year that the center was sold, or under contract, but Henry S. Miller Interests wouldn’t confirm or deny the information.

The center was built in 1931 and is considered to be the first shopping center in the United States. Henry S. Miller Interests bought the asset in 1976 for approximately $5 million. In 2000, Highland Park Village was named a National Historic Landmark. Tenants include Hermès, Carolina Herrera, Chanel, Tory Burch, Scoop NYC, Ralph Lauren, Harry Winston and Escada. Neither the buyer or seller was available for comment at press time.

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