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The over 850,000-square-foot retail center The Village at Allen is now under new ownership.
Sterling Organization, a Florida-based real estate firm, acquired the outdoor retail center March 30, according to a news release.
The details
The Village at Allen, located at 190 E. Stacy Road, includes storefronts for national brands like Target, Best Buy and Dick’s Sporting Goods, per the release. The retail center also includes a Courtyard by Marriott hotel and the Credit Union of Texas Event Center.
In addition, global lifestyle retailer Miniso opened a store within the retail center in late March.
"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,” Sterling Organization Principal Bob Dake said in the release. “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.”
With the addition of The Village at Allen, Sterling Organization and its affiliates now own 75 properties nationwide, exceeding $3.4 billion in value, the release states.
Also of note
Another Allen retail center is also under new ownership. Dallas-based investment company Gillon Property Group and Town Lane, a New York-based real estate investment manager, acquired Watters Creek Village in early April, according to a news release.
