Sterling Organization Acquires Dominant Texas Shopping Center

The $600M value-add fund expands its Dallas-Fort Worth portfolio with the purchase of The Village at Allen.

Mar. 31, 2026 at 3:37am

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A photorealistic studio still life featuring a polished, geometric model of a modern shopping mall facade in shades of gray and white, conveying the abstract concepts of corporate real estate strategy and value-add investing.A premium, minimalist visual representation of the market-leading shopping center acquired by Sterling Organization to expand its Dallas-Fort Worth portfolio.Allen Today

Sterling Organization, a private equity real estate firm, has acquired The Village at Allen, an 851,457-square-foot power shopping center in Allen, Texas. The investment was made on behalf of Sterling's $600 million institutional value-add fund, Sterling Value Add Partners IV (SVAP IV). The market-dominant property is shadow-anchored by a high-performing Super Target and is currently 89% leased to national retailers.

Why it matters

The acquisition of The Village at Allen aligns with Sterling Organization's value-add investment strategy, allowing the firm to leverage its operating platform and tenant relationships to unlock the full potential of this flagship shopping center. The property's location in the rapidly growing Dallas-Fort Worth metroplex and its mix of national value and necessity-based retailers make it an attractive long-term investment.

The details

The Village at Allen is an 851,457-square-foot power shopping center located in Allen, Texas, directly along US-75 with over 105,000 vehicles passing by daily. The property is shadow-anchored by a high-performing Super Target and is currently 89% leased to a premier lineup of national tenants including TJX Companies banners, Dick's Sporting Goods, Best Buy, Nordstrom Rack, Total Wine & More, and 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.

  • Sterling Organization acquired The Village at Allen on March 30, 2026.

The players

Sterling Organization

A vertically integrated private equity real estate investment firm specializing in open-air shopping centers across the U.S.

Sterling Value Add Partners IV (SVAP IV)

A $600 million institutional value-add fund managed by Sterling Organization.

American Realty Advisors

The seller of The Village at Allen property.

DLC

The broker that collaborated on the transaction.

Chris Gerard, Barry Brown, and Erin Lazarus

JLL brokers who collaborated on the transaction.

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What they’re saying

“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.”

— Jordan Fried, Principal at Sterling Organization

“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.”

— Bob Dake, Principal at Sterling Organization

What’s next

Sterling Organization plans to execute targeted and impactful capital projects to further elevate The Village at Allen and improve the tenant offering. Leasing inquiries for available spaces can be directed to the firm's leasing team.

The takeaway

The acquisition of The Village at Allen demonstrates Sterling Organization's ability to identify and capitalize on value-add opportunities in high-growth markets. By leveraging its operational expertise and tenant relationships, the firm aims to enhance the property's performance and solidify its position as a market-dominant shopping destination.