JLL Capital Markets announced today the successful sale of Park North Shopping Center, a premier 635,325-square-foot regional retail destination in San Antonio. The transaction marks the largest shopping center sale in the San Antonio market since JLL’s record-setting sale of The Rim in 2021.
JLL worked on behalf of the seller, Sterling Organization, with Dhanani Private Equity serving as the buyer.
Park North Shopping Center is strategically positioned at 842 NW Loop 410, offering exceptional visibility and access to 241,000 vehicles per day on Loop 410. The property is uniquely anchored by Target on a ground lease, an arrangement rarely seen in the retail landscape, and features a diverse mix of entertainment, shopping and dining options including Pinstack, Alamo Drafthouse Cinema, Norris Conference Centers and Outlaw Pickleball.
The 93.3% leased shopping center sits on 45.75 acres and serves a trade area of more than 304,100 consumers within a five-mile radius with an average household income of $95,057. The property benefits from its infill location in the heart of San Antonio, surrounded by affluent neighborhoods, employment centers, entertainment destinations and military hubs.
JLL Capital Market’s Investment Sales and Advisory team was led by Senior Managing Directors Chris Gerard and Barry Brown and Directors Erin Lazarus and Whitney Snell.
