SAN ANTONIO – Palm Beach, Fla.-based Sterling Organization has acquired Park North, a 635,382-sf retail power center, for $81 million.
The 73 percent-occupied center consists of 17 buildings on 45.8 acres along Loop 410 between Blanco Rd. and San Pedro Ave. It is anchored by Target, Alamo Drafthouse Cinema, and Cost Plus World Market.
The asset was purchased on behalf of the firm's institutional value-add fund Sterling Value Add Partners II LP.
CBRE brokered the transaction.
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