The Village at Allen Shopping Center Gets New Owner: The DFW Deal Sheet
A major retail center in Allen just changed hands.
Sterling Organization bought the 109-acre The Village at Allen, one of the city’s biggest shopping centers, from an affiliate of DLC Management Corp. and American Realty Advisors.
The Village at Allen features more than 851K SF of gross leasable area at 190 E. Stacy Road, which is along U.S. Highway 75.
The property was 89% leased at the time of the deal. It is shadow-anchored by a Super Target and features Dick’s Sporting Goods as well as multiple TJX Cos. stores like T.J. Maxx, HomeGoods, HomeSense and Sierra.
The center maintains 99% national big-box tenancy, with a 4.6-year weighted-average lease term.
The Village at Allen presented significant value-add opportunities for the new owner despite its current occupancy. It offers immediate lease-up potential of more than 84K SF of in-line space and includes an additional 8 acres for future development.
JLL Capital Markets’ investment sales and advisory team, representing the seller, included Chris Gerard, Barry Brown and Erin Lazarus.
SALES
Bill Hutchinson of Dunhill Partners Inc. sold The Shops at Mockingbird at 4550 W. Mockingbird Lane in Dallas to an undisclosed buyer. The shopping center was built in 2008 and encompasses 6.4 acres with more than 76K SF of retail space. JLL Capital Markets’ Adam Howells, Erin Lazarus and Michael Jankovich represented the seller.
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Ascent Investment Partners announced the sale of McKinney 20 and McKinney 546, two industrial development sites totaling around 63 acres near the McKinney National Airport. The sale of McKinney 20 represents Ascent Fund II’s first realized investment, returning capital to investors within approximately seven months of acquisition. McKinney 546 was held as a standalone investment asset outside the fund.
LEASES
Texas Almet renewed its lease for 25K SF at 2800 E. Randoll Mill Road in Arlington. Scott Voelkel and Cullen Dickey of Highland Properties handled negotiations for the tenant. The landlord, a local enterprise, was represented by Ishash Shrestha of Avangard Real Estate.
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Indoor dry-slide attraction Slick City Action Park opened its fifth DFW location in North Dallas this month and plans to open in Colleyville soon. Slick City leased 30K SF at 11250 N. Central Expressway in Dallas from 11250 North Central LP. In Colleyville, the company leased a 40K SF former movie theater at 5655 Colleyville Blvd. from SVAP III TC Colleyville LLC.
CONSTRUCTION AND DEVELOPMENT
Hillwood began work on two new speculative industrial buildings at AllianceTexas during March. The nearly 269K SF Alliance Gateway 70 and the 501K SF Alliance Gateway 71 are being built at the recently completed interchange of Independence Parkway and Henrietta Creek Road, adjacent to State Highway 170. Both are expected to be completed before the end of the year.
The projects were designed by RGA Architects, and civil engineering services were provided by Westwood. Hillwood Construction Services will serve as the general contractor. Alliance Gateway 70 is financed by Enterprise Bank, and Alliance Gateway 71 is financed by Comerica Bank.
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The 293-room Ricardo Marriott DFW Westlake reopened April 7 after a complete renovation and rebranding. The hotel was acquired in September 2023 as the Marriott Westlake by a joint venture of NewcrestImage and Dabu Group, and it is now managed by Coury Hospitality. The renovation added the House of Toro Chophouse and Patio.
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Greystar opened the 328-unit Marlowe Corinth Groves apartment and townhome community in Corinth.
PEOPLE
Kurv Industrial, formerly known as Bridge Industrial, announced its expansion into the Dallas industrial and logistics market and the appointment of Greer Oxford as market officer for Dallas. With more than 16 years of experience, Oxford will be based in Dallas and will oversee market strategy and portfolio growth. He was previously a senior director at Nuveen Real Estate.
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KAI hired Conni Morey as its new vice president of marketing, based in the firm’s Dallas-Fort Worth office. Morey has more than 25 years of experience and will oversee KAI’s marketing strategy.
THIS AND THAT
Jackson-Shaw President and CEO Michele Wheeler and Newmark Vice Chairman Brian O’Boyle Sr. will be inducted into the 2026 North Texas Commercial Real Estate Hall of Fame on April 29 at the Arts District Mansion.
