The investment was made on behalf of Sterling's $600 million institutional value-add fund, Sterling Value Add Partners IV (SVAP IV).
WEST PALM BEACH, FL / ACCESS Newswire / March 30, 2026 / Sterling Organization, a vertically integrated private equity real estate investment firm specializing in open-air shopping centers across the U.S., is pleased to announce its acquisition of The Village at Allen. The 851,457-square-foot, market dominant power shopping center is located in Allen, Texas, a rapidly growing suburb of Dallas. The investment was made on behalf of Sterling's $600 million institutional value-add fund, Sterling Value Add Partners IV (SVAP IV).
The Village at Allen is located at 190 E. Stacy Road in Allen, Texas, directly along US-75 (105,000+ vehicles per day). The property sits within a dynamic and rapidly growing Texas submarket, where the population within a 3-mile radius is currently approximately 110,000 residents with an average annual household income of approximately $170,000. Within 5-miles of the property, the population jumps to over 266,000 residents with an average annual household income of approximately $170,000. It is the most visited shopping center within a 30-mile radius with 11.5 million customer visits annually.
The property is shadow-anchored by a high-performing Super Target and is currently 89% leased to a premier lineup of nationally recognized anchor tenants including multiple TJX Companies banners (T.J. Maxx, HomeGoods, HomeSense and Sierra), Dick's Sporting Goods, Best Buy, Nordstrom Rack, Total Wine & More, PetSmart, Burlington, and many others. The property also includes a 206,012-square-foot open-air lifestyle component that is currently 59% leased, presenting an immediate value-add opportunity through the lease-up of high value vacant space and tenancy upgrades. The property also includes nine single-tenant outparcels and over eight acres of undeveloped land with development potential.
"The Village at Allen is a market dominant property that aligns well with our value-add investment strategy. Our team looks forward to enhancing the property's value and executing on behalf of our investor partners," said Jordan Fried, Principal at Sterling Organization. "We would like to thank the sellers, American Realty Advisors, and DLC, as well as brokers Chris Gerard, Barry Brown and Erin Lazarus with JLL for their collaboration on this transaction. We truly appreciate their collective efforts and professionalism in what will almost certainly be one of the largest single-asset shopping center transactions in the U.S. this calendar year," added Mr. Fried.
"The Village at Allen is anchored by a bevy of national retailers that specialize in value and necessity offerings and is located in a dynamic submarket in the business friendly and great state of Texas. We are excited for the opportunity to leverage our vertically integrated operating platform and deep tenant relationships to unlock the full potential of this market dominant shopping center. The Village at Allen is a flagship-caliber acquisition and we look forward to collaborating with our tenants, the City of Allen, and the broader community to further elevate this already amazing asset with targeted and impactful capital projects which should result in an improved tenant offering," said Bob Dake, Principal at Sterling Organization.
Vacancies available for lease range from 1,324 to 13,789 square feet, in addition to several outparcel opportunities.
Leasing inquiries can be directed to leasing@sterlingorganization.com.
With the addition of The Village at Allen, Sterling Organization and its affiliates now own 75 properties nationwide, totaling more than 13 million square feet and exceeding $3.4 billion in value. The firm is actively seeking new investments and currently has approximately $1 billion in aggregate buying power across its various strategies. Acquisition and disposition inquiries may be sent to investments@sterlingorganization.com.
Media inquiries can be directed to mediainquiries@sterlingorganization.com.
SOURCE: Sterling Organization
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/real-estate/sterling-organization-expands-dfw-portfolio-with-acquisition-of-the-village-at-allen-an-1152980
