A joint venture between Sterling and a Cohen & Steers REIT has acquired 1890 Ranch, a large-format retail center in Cedar Park, Texas. The property totals 441,620 square feet and is located at 1335 E. Whitestone Blvd., positioning it within an established suburban retail corridor. The acquisition brings a new institutional ownership group to one of Cedar Park’s major shopping destinations.
The seller, Endeavor, was represented by JLL’s Investment Sales and Advisory team. The team was led by Barry Brown, Chris Gerard and Shea Petrick, who advised Endeavor through the disposition process. Their role encompassed marketing the center and coordinating the sale to the Sterling and Cohen & Steers REIT partnership.
In addition to its sales assignment, JLL also worked on behalf of the buyer to arrange acquisition financing. JLL secured a fixed-rate, five-year loan for Sterling through MetLife Investment Management. The financing was arranged by JLL’s Debt Advisory group, led by Chris Drew, Michael DiCosimo and Aaliyah St. Louis, which structured the debt package to support the new ownership’s purchase of the center.
1890 Ranch is anchored by a mix of national retailers and service providers. Tenants include Academy Sports + Outdoors, Ross Dress for Less, Burlington, PetSmart, Natural Grocers, Cinemark, Crunch Fitness, Office Depot and Dollar Tree. These anchors are complemented by additional shop space and are further supported by shadow anchors Super Target, Hobby Lobby, Ashley Furniture Homestore and Mardel, which help drive consistent traffic to the property.
The center is reported to be 99% leased, reflecting strong tenant demand and limited vacancy. According to information provided, 1890 Ranch has maintained occupancy above 98% since 2022, underscoring its stability and the durability of its tenant roster. The combination of high occupancy, a broad mix of national credit retailers and a diversified anchor lineup reinforces the property’s position as a key retail destination in Cedar Park.
With the closing of this transaction, Sterling and the Cohen & Steers REIT assume ownership of a nearly fully leased, institutionally sized retail asset supported by long-standing national brands. JLL’s dual role in both the sale and the financing, along with MetLife Investment Management’s participation as the lender, highlights continued engagement from intermediary and institutional capital sources in well-leased retail centers.
