{"id":1004700216,"date":"2024-01-31T02:39:07","date_gmt":"2024-01-31T10:39:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004700216"},"modified":"2024-01-31T02:39:09","modified_gmt":"2024-01-31T10:39:09","slug":"site-centers-sells-dfw-area-shopping-center-for-42m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/","title":{"rendered":"SITE Centers Sells DFW-Area Shopping Center for $42M"},"content":{"rendered":"\n<p><strong>SITE Centers<\/strong> <strong>Corp<\/strong>. has sold Marketplace at Highland Village, a 206,926-square-foot shopping center in Highland Village, Texas. <strong>Sterling Organization<\/strong> purchased the property for $42 million, according to CommercialEdge data.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a13edd81cef3&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004700219\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/marketplace-at-highland-village-teaser\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"marketplace-at-highland-village-teaser\" data-image-description=\"&lt;p&gt;Marketplace at Highland Village came online in 2006. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Marketplace at Highland Village came online in 2006. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png?w=800\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png?w=300\" alt=\"Marketplace at Highland Village\" class=\"wp-image-1004700219\" style=\"width:300px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Marketplace at Highland Village houses a mix of national and regional retailers with an average tenant tenure of 13.6 years. <em>Image courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>JLL Capital Markets<\/strong> arranged the transaction, with Senior Managing Directors Chris Gerard and Barry Brown and Director Erin Lazarus working on behalf of the seller. At the time of the sale, <a href=\"https:\/\/www.commercialsearch.com\/news\/what-lies-ahead-for-retail-in-2024\/\">the retail center<\/a> was 93 percent leased.<\/p>\n\n\n\n<p>The tenant roster at Marketplace at Highland Village includes a mix of national and regional retailers such as T.J. Maxx, Home Goods, LA Fitness, Dollar Tree, DSW, Petco, Sola Salon Studio, One Stop Nutrition, Enterprise and Clothes Mentor.<\/p>\n\n\n\n<p>Located at 3060 Justin Road, the shopping center is at the intersection of Justin Road and Village Parkway. Highland Village serves approximately 178,365 individuals within a 5-mile radius, with the average household income of $198,546 within a 1-mile radius. Due to its location in the affluent suburb of Highland Village, the property has recorded over 4.3 million visits annually, according to JLL.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-retail-sector-demonstrates-resilience\">The retail sector demonstrates resilience<\/h2>\n\n\n\n<p>SITE acquired Marketplace at Highland Village more than a decade ago for $33.9 million, CommercialEdge shows. At the end of last year, the company sold\u00a0a <a href=\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-orange-county-shopping-center\/\">208,572-square-foot<\/a>\u00a0grocery-anchored shopping center\u00a0in Buena Park, Calif. In the same period, Sterling Organization\u00a0purchased a <a href=\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-buys-31m-shopping-center\/\">111,635-square-foot<\/a> grocery-anchored shopping center in Bristow, Va., for $31.4 million.<\/p>\n\n\n\n<p>Veteran retail investor Gary Rappaport recently told <em>Commercial<\/em> <em>Property Executive<\/em> that grocery-anchored shopping center is the <a href=\"https:\/\/www.commercialsearch.com\/news\/cpe-asks-when-will-be-a-good-time-to-invest-in-retail\/\">best place for new investors<\/a> who want to hold a direct ownership in commercial real estate to put some cash in this year or in 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL Capital Markets arranged the transaction.<\/p>\n","protected":false},"author":3014,"featured_media":1004700219,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21783,21742,21749,32781],"tags":[32796,48215,36215],"class_list":["post-1004700216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-investment","category-latest","category-retail","category-southeast","tag-jll","tag-site-centers-corp","tag-sterling-organization"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SITE Centers Sells DFW-Area Shopping Center for $42M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"SITE Centers sold a 206,926-square-foot retail center in Highland Village, Texas. Sterling Organization purchased the asset for $42 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SITE Centers Sells DFW-Area Shopping Center for $42M\" \/>\n<meta property=\"og:description\" content=\"SITE Centers sold a 206,926-square-foot retail center in Highland Village, Texas. Sterling Organization purchased the asset for $42 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-31T10:39:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-31T10:39:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/\",\"name\":\"SITE Centers Sells DFW-Area Shopping Center for $42M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png\",\"datePublished\":\"2024-01-31T10:39:07+00:00\",\"dateModified\":\"2024-01-31T10:39:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"SITE Centers sold a 206,926-square-foot retail center in Highland Village, Texas. Sterling Organization purchased the asset for $42 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png\",\"width\":800,\"height\":600,\"caption\":\"Marketplace at Highland Village came online in 2006. Image courtesy of JLL Capital Markets\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SITE Centers Sells DFW-Area Shopping Center for $42M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\",\"name\":\"Diana Firtea\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/DianaFirtea_AuthorPhoto.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/DianaFirtea_AuthorPhoto.jpg?w=96\",\"caption\":\"Diana Firtea\"},\"description\":\"Diana Firtea is an associate editor with Commercial Property Executive and Multi-Housing News. She has been with the company for almost four years and joined the CPE-MHN team in 2022. Diana writes stories on different topics, mainly focusing on the affordable, senior, office and retail markets. You can reach out to her at diana.firtea@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/diana-firtea\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"SITE Centers Sells DFW-Area Shopping Center for $42M - Commercial Property Executive","description":"SITE Centers sold a 206,926-square-foot retail center in Highland Village, Texas. Sterling Organization purchased the asset for $42 million.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/","og_locale":"en_US","og_type":"article","og_title":"SITE Centers Sells DFW-Area Shopping Center for $42M","og_description":"SITE Centers sold a 206,926-square-foot retail center in Highland Village, Texas. Sterling Organization purchased the asset for $42 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-01-31T10:39:07+00:00","article_modified_time":"2024-01-31T10:39:09+00:00","og_image":[{"width":800,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png","type":"image\/png"}],"author":"Diana Firtea","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/","url":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/","name":"SITE Centers Sells DFW-Area Shopping Center for $42M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png","datePublished":"2024-01-31T10:39:07+00:00","dateModified":"2024-01-31T10:39:09+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59"},"description":"SITE Centers sold a 206,926-square-foot retail center in Highland Village, Texas. Sterling Organization purchased the asset for $42 million.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png","width":800,"height":600,"caption":"Marketplace at Highland Village came online in 2006. Image courtesy of JLL Capital Markets"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/site-centers-sells-dfw-area-shopping-center-for-42m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"SITE Centers Sells DFW-Area Shopping Center for $42M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59","name":"Diana Firtea","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/DianaFirtea_AuthorPhoto.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/DianaFirtea_AuthorPhoto.jpg?w=96","caption":"Diana Firtea"},"description":"Diana Firtea is an associate editor with Commercial Property Executive and Multi-Housing News. She has been with the company for almost four years and joined the CPE-MHN team in 2022. Diana writes stories on different topics, mainly focusing on the affordable, senior, office and retail markets. You can reach out to her at diana.firtea@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/diana-firtea\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/marketplace-at-highland-village-teaser.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004700216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3014"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004700216"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004700216\/revisions"}],"predecessor-version":[{"id":1004700335,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004700216\/revisions\/1004700335"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004700219"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004700216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004700216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004700216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}