Sterling Organization paid $42 million for a robust retail center in Highland Village, north of Dallas. SITE Centers was the seller of the 206,926-square-foot Marketplace at Highland Village shopping center. SITE acquired the center more than a decade ago for $33.9 million, CommercialEdge reports.
The tenant roster at Marketplace at Highland Village includes a mix of national and regional retailers such as T.J. Maxx, Home Goods, LA Fitness, Dollar Tree, DSW, Petco, Sola Salon Studio, One Stop Nutrition, Enterprise and Clothes Mentor. Located at 3060 Justin Road, the shopping center is at the intersection of Justin Road and Village Parkway.
JLL Capital Markets arranged the transaction, with Senior Managing Directors Chris Gerard and Barry Brown and Director Erin Lazarus working on behalf of the seller. At the time of the sale, the retail center was 93 percent leased.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.