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5/03/17
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Sterling Organization purchased Creekwalk Village, a 174.5k sf shopping center located in Plano, TX, for $24.5 mil, or $140/sf. The property was purchased from 29 Tenants in Common (“TIC”) owners via Sterling Organization’s institutional fund Sterling Value Add Partners II, LP (“SVAP II”).
Creekwalk Village is located at the northeast corner of West 15th St and Alma Dr in Plano. It is currently 100% occupied with nine tenants, including national retailers Michaels, DSW, Petco, Old Navy, Bed Bath & Beyond and Barnes & Noble.
With the addition of Creekwalk Village, Sterling Organization has acquired approximately 810k sf of retail real estate in Texas in the past seven months. From coast to coast, Sterling Organization and its principals own more than 9 msf of real estate approaching $2 bil in value.
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