JLL Capital Markets facilitates sale of Village at Stone Oak, a 476K SF high-performing retail center
News release
08 October 2024
Prime San Antonio retail center changes hands
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DALLAS, Oct. 8, 2024 – JLL Capital Markets announced today the sale of Village at Stone Oak, a 476,371-square-foot high-performing retail center in San Antonio, Texas.
JLL worked on behalf of the seller, SITE Centers, in the sale to Sterling Organization.
Village at Stone Oak ranks in the top 5% of United States shopping centers, according to Placer.Ai. Additionally, the property boasts an 84% occupancy rate and features a diverse tenant mix including power, lifestyle, convenience and office space. Shadow-anchored by Target, the center houses notable retailers such as AT&T, Dollar Tree, DSW, Hobby Lobby, HomeGoods, Kirkland's, McAlister's Deli, Petco, pOpshelf, Ross Dress for Less, Spec's and ULTA.
Strategically located in Bexar County at the intersection of US 281 N and Stone Oak Parkway, the center also offers excellent visibility and access. It serves an upper-middle-class community north of San Antonio and is in close proximity to the JW Marriott Hill Country Resort, TPC Golf Course and Lady Bird Johnson High School. The property's location capitalizes on San Antonio's corporate presence, tourist attractions, educational institutions, tech industry and extensive military population.
The JLL Investment Sales and Advisory team was led by Senior Managing Directors Chris Gerard and Ryan West, Director Whitney Snell, Associate Keenan Ryan and Analyst Andrew Griffin.
“Village at Stone Oak occupies a prime position in one of the most vibrant areas of San Antonio,” said Gerard. “The submarket’s growth is fueled by population expansion, a robust local economy and strong consumer demand. These factors, combined with the center's diverse tenant mix and immediate leasing upside, make it an exceptionally attractive retail investment.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About SITE Centers Corp.
SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.
About Sterling Organization
Sterling Organization is a vertically integrated private equity real estate investment firm whose national platform is focused on investing in retail real estate assets. Sterling Organization, and its affiliates, own and manage 75 properties across the U.S. with more than 13 million square feet of primarily retail real estate across the U.S. worth over $2 billion in value. The company is headquartered in Palm Beach, Florida, with additional offices strategically located throughout the U.S. For more information, please visit sterlingorganization.com.