Village at Allen Retail Center Sells for Reported $170M

DLC Management acquired the 180-acre Village at Allen retail center at U.S. 75 and Stacy Lane in Allen, TX, a suburb of Dallas. The New York buyer negotiated the deal with Prudential Insurance and the center’s developer, MGHerring Group. Media reports put the sale at $170 million; Eastdil Secured brokered the transaction.

The more than 1-million-square-foot center opened in 2008 and includes retailers such as Best Buy, Toys R Us, Pier 1 Imports, Leather Sofa Co., Total Wine, Dicks Sporting Goods and Sleep Experts. DLC Management indicated the Village at Allen is its largest purchase, and largest retail real estate acquisition in Texas. Alan Ifshin, the company’s CEO, notes that a fifth regional office is opening “to fuel our expansion in Texas and the Southwest.”

The sale took place a year after Prudential and MGHerring Group sold the adjoining Village at Fairview shopping center to Lincoln Property Co. of Dallas.

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