Sterling Organization Acquires 1.2M-SF Texas Retail Center

The $XXX million purchase of The Village at Allen adds a major regional shopping destination to Sterling's national portfolio.

Apr. 13, 2026 at 4:27pm

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A photorealistic studio still-life image featuring a polished, geometric glass display case filled with miniature 3D models of retail storefronts, shopping carts, and other abstract corporate symbols, arranged elegantly on a clean, monochromatic background using dramatic lighting to symbolize the strategic acquisition of a major retail property.The strategic acquisition of a major retail property adds a significant Texas-area shopping destination to Sterling Organization's growing national portfolio.Allen Today

Sterling Organization, a real estate investment firm, has acquired a 1.2-million-square-foot retail property in Allen, Texas through one of its proprietary funds. The 109-acre shopping center, known as The Village at Allen, features a mix of national retailers and an open-air lifestyle component that was 89% occupied at the time of sale.

Why it matters

The acquisition of The Village at Allen adds a significant Texas-area retail destination to Sterling's growing national portfolio, reflecting the firm's continued focus on large-format retail assets. The property's diverse tenant mix, including major national brands, and additional development potential make it an attractive long-term investment.

The details

The Village at Allen features a core retail component as well as a 206,012-square-foot open-air lifestyle section that is 59% leased. The property also includes more than 84,000 square feet of immediately leasable space and 8 acres designated for future development, providing the new owner with multiple avenues to drive occupancy, revenue growth, and value enhancement over time.

  • The acquisition closed on April 13, 2026.

The players

Sterling Organization

A real estate investment firm that now owns 75 properties across the United States totaling more than 13 million square feet.

DLC Management Corp.

The previous owner of The Village at Allen retail center.

American Realty Advisors

The previous owner of The Village at Allen retail center.

JLL Capital Markets

The investment sales and advisory team that represented the sellers in the transaction.

Chris Gerard

A member of the JLL Capital Markets team that advised the ownership on the disposition.

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What’s next

Sterling Organization plans to continue enhancing the property's value through additional leasing, repositioning, and potential future development on the 8 acres of available land.

The takeaway

This transaction demonstrates Sterling Organization's strategy of investing in institutional-quality retail assets with diverse revenue streams and growth potential, even as the retail landscape continues to evolve. The Village at Allen's mix of national tenants, open-air lifestyle component, and development capacity make it an attractive long-term addition to Sterling's portfolio.