Sterling Organization has recently completed the purchase of a portfolio of open-air shopping centers for $180.5 million. The three properties, located in Atlanta, Washington D.C., and San Antonio metropolitan areas, were sold by SITE Centers.
One of the properties acquired by Sterling is The Village at Stone Oak in San Antonio. This 476,000-square-foot power center is now the largest property in Sterling’s newly acquired portfolio. It features popular retailers such as HomeGoods, Ross, Petco,DWS,and ULTA Beauty and also has a shadow anchor with Super Target nearby.The property is situated on U.S.Route 281 and is only 16 miles away from downtown San Antonio.It serves a population of over170 ,000 residents within a five-mile radius.
According to Commercial Edge,this transaction marks the second deal between these two parties this year.In January,Sterling purchased Marketplace at Highland Village,a retail center spanning205 ,926 square feet,in Highland Village,Texas for $42 million from SITE Centers.
The post-SITE Spins Off San Antonio Power Center appeared first on Connect CRE.
