Sterling and a Cohen & Steers REIT purchased the 1890 Ranch, a 441,620-square-foot retail center located at 1335 E. Whitestone Blvd. in Cedar Park, Texas.
The JLL Investment Sales and Advisory team representing the seller, Endeavor, was led by Barry Brown, Chris Gerard and Shea Petrick. JLL also worked on behalf of the borrower, Sterling, to secure a fixed-rate, five-year acquisition loan through MetLife Investment Management. Chris Drew, Michael DiCosimo and Aaliyah St. Louis led the JLL Debt Advisory team that arranged the acquisition financing.
The property features quality anchor and shop space represented by a lineup of national retailers, including Academy Sports + Outdoors, Ross Dress for Less, Burlington, PetSmart, Natural Grocers, Cinemark, Crunch Fitness, Office Depot and Dollar Tree, along with shadow anchors Super Target, Hobby Lobby, Ashley Furniture Homestore and Mardel. The asset is 99% leased and has maintained occupancy above 98% since 2022.
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