DALLAS, Dec. 15, 2025 –  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.

"Park North represented an exceptional opportunity to acquire a premier regional shopping destination with significant value-add potential," said Gerard. "The property's unique Target ground lease structure, strong entertainment tenant mix and excellent demographics made it highly attractive to investors seeking stable cash flow and upside opportunity."

"This transaction underscores the continued strength of the San Antonio retail market," Gerard continued. "JLL has now facilitated the two largest shopping center sales in San Antonio since 2021, demonstrating our deep market knowledge and ability to execute complex transactions in this dynamic market."

The property features significant value enhancement opportunities including 42,381 square feet of immediate lease-up space, mark-to-market rental opportunities with 28% of current rents below market and potential for pad site development across ten separately platted parcels.

Park North Shopping Center ranks in the top 2% of most-trafficked shopping centers in the United States with 7.1 million annual visits and a 17.9% increase in visits since 2022.

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.

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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 $23.4 billion and operations in over 80 countries around the world, our more than 113,000 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 WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Sterling Organization is a vertically integrated private equity real estate investment firm headquartered in West Palm Beach, Florida. Sterling Organization and its affiliates own over 80 properties throughout the United States, across various funds and other investment vehicles, encompassing over 13 million square feet and exceeding $3 billion in value. Sterling Organization is actively seeking investment opportunities and has over $1 billion of buying power in the aggregate across various investment strategies. For acquisition or disposition inquiries, please contact investments@sterlingorganization.com.

Based out of Houston, Texas, Dhanani Private Equity Group (DPEG) is a $2.5 billion family-owned real estate syndication specializing in high-performing investment opportunities across multifamily, retail, office, land, hotels and convenience stores.