Sterling Organization Announces Sale of Park North Shopping Center in San Antonio, Texas for $115 million

Sterling Organization originally acquired the property in September of 2016 on behalf of their institutional value-add fund, Sterling Value Add Partners II (SVAP II) for $81 million.

WEST PALM BEACH, FLORIDA / ACCESS Newswire / December 12, 2025 / Sterling Organization, a vertically integrated private equity real estate investment firm headquartered in West Palm Beach, Florida, announces the sale of Park North Shopping Center, a 635,000 square foot retail property located at 842 Northwest Loop 410 in San Antonio, Texas. Sterling Organization originally acquired the property in September of 2016 on behalf of their institutional value-add fund, Sterling Value Add Partners II (SVAP II) for $81 million.

Park North Shopping Center is anchored by a Target store on a ground lease and houses a mix of other national, regional, and local tenants such as Pinstack, Alamo Drafthouse Cinema, Norris Conference Centers, World Market, Outlaw Pickleball, Dollar Tree, Chipotle and First Watch. The center hosts approximately 7.1 million annual visitors and is among the most-trafficked shopping centers in the San Antonio MSA.

“During our ownership of the shopping center, our operations and leasing teams did a great job increasing occupancy from 73% to 93%. Through active management and close collaboration with our tenants, particularly during the challenges of COVID, given the property’s many entertainment-focused tenants, we were able to materially improve the property’s financial performance and position it for long-term success as a valuable community asset,” said Bob Dake, Principal at Sterling Organization

“Our investment in Park North Shopping Center reflects our commitment to identifying and improving well-located shopping centers in infill locations of major markets. We are gratified by the returns our team was able to provide to our fund-investor partners at Park North. We want to wish the new ownership group continued success with this asset and would like to thank Chris Gerard, Barry Brown, and the JLL team for their professionalism and dedication throughout this transaction. Their expertise, guidance, and approach were instrumental in bringing this sale to a successful close,” said Jordan Fried, Principal at Sterling Organization.

Sterling Organization and its affiliates own 81 properties throughout the United States, across various funds and other investment vehicles, encompassing over 13 million square feet and exceeding $3billion in value.

Sterling Organization is actively seeking investment opportunities and has over $1 billion of buying power in the aggregate across various investment strategies. For acquisition or disposition inquiries, please contact investments@sterlingorganization.com.

SOURCE: Sterling Organization

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