A major San Antonio shopping center has changed ownership. Park North Shopping Center, a sprawling 635,000-square-foot retail property, has been sold by Sterling Organization. According to the real estate company, the property changed hands in a $115 million transaction.
Park North Shopping Center in San Antonio Sold
Sterling Organization had first acquired the land in 2016 on behalf of Sterling Value Add Partners II for $81 million. Located at 842 Northwest Loop 410, the shopping center hosts Target on a ground lease.
It also has a blend of other local, regional, and national tenants. Some include Alamo Drafthouse Cinema, World Market, Dollar Tree, First Watch, Pinstack, and Norris Conference Centers.
Approximately 7.1 million visitors come to Park North Shopping Center annually. It ranks among the most heavily trafficked shopping centers in the San Antonio area, according to Sterling. Dhanani Private Equity Group has acquired the property, The San Antonio Express-News reported…