A mixed-use center in Richardson has been snapped up by a new owner: The Shire at CityLine, an 83,256-square-foot suburban mixed-use retail and office property at the southeast corner of George Bush Turnpike and Jupiter Road, was sold to Venture Investment Partners, a Dallas-based group that owns dozens of properties around DFW.
JLL marketed the property on behalf of the seller, Standridge Companies, a commercial real estate company in Addison.
Originally founded in 2005 by restaurateur Dale Wamstad, The Shire at CityLine features an eclectic mix of tenants including medical services such as a dental office, dermatology, and a pediatric office.
It also has a number of restaurants including Anaya's Seafood, Apollonia's Italian, and Silver Fox Steakhouse.
More recent openings include Gillespie's Tavern, an Irish pub with some familiar names behind the bar that opened in May; and 42 BBQ Smokehouse & Market, serving a classic Texas-style barbecue menu developed by chef Joshua Boneé.
It's adjacent to the $1.5-billion CityLine development, home to 11,200 employees, and 2,221 multi-housing units.
And if that's not enough, the center has 414 dedicated parking spaces. Dallas loves parking spaces.
The area has experienced a 14 percent increase in population since 2010 and is in Dallas-Fort Worth's growth path.