Sterling Organization Sells Park North Shopping Center In San Antonio For $115 Million

The Park North Shopping Center, a retail asset located at 842 Northwest Loop 410 in San Antonio, encompasses 635,000 square feet. This property was sold for $115,000,000, translating to a price per square foot of $181. The shopping center was previously acquired by Sterling Organization for $81,000,000 in 2016, and during their ownership, occupancy increased from 73% to 93%.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $115,000,000
• Square Footage: 635,000 SF
• Address: 842 Northwest Loop 410
• Market: San Antonio
• Seller: Bob Dake & Jordan Fried - Sterling Organization
• Price Per Square Foot: $181
• Occupancy Increase: From 73% to 93%
• Annual Visits: 7.1 million
• Brokerage Firm: JLL
• Broker Representatives: Chris Gerard and Barry Brown

This transaction showcases the efforts of Bob Dake and Jordan Fried from Sterling Organization, who effectively enhanced the shopping center's performance prior to the sale. The center, anchored by Target, was notable for attracting significant annual foot traffic, positioning it as a valuable retail asset in the San Antonio market.