Business
BY SHELBIE HAMILTON & MARY KATHERINE SHAPIRO
Investors acquire The Village at Allen, Watters Creek Village deep tenant relationships to unlock the full poten- tial of this market dominant shopping center,” Sterling Organization Principal Bob Dake said in the release. Watters Creek Village 1 STACY RD. 75 N. WATTERS RD. EXCHANGE PKWY. Allen
Two large retail centers in Allen are now under new ownership following recently announced acquisition deals. Dallas-based investment company Gillon Property Group and Town Lane, a New York-based real estate investment manager, acquired Watters Creek Village April 1, while Florida-based real estate firm Sterling Organization acquired The Village at Allen March 30. The Village at Allen The development spans over 850,000-square- feet and includes storefronts for national brands like Target, Best Buy and Dick’s Sporting Goods, per a news release. The retail center also includes a Courtyard by Marriott hotel and the Credit Union of Texas Event Center. Global lifestyle retailer Miniso opened a store within the retail center in late March. “We are excited for the opportunity to leverage our vertically integrated operating platform and
Arts &Music “Our focus is on patient, hands-on ownership— curating the right merchandising mix, elevating the public realm, and reinforcing Watters Creek Village as a long-term gathering place,” Gillon Property Group CEO Drew Steffen said in the release. Festival The 46-acre property includes approximately 360,000 square feet of retail space and about 100,000 square feet of boutique office space, a news release states. A Market Street grocery store anchors the center, which also includes businesses like Anthropologie, Barnes & Noble, Hiatus Spa, Vaqueros and Tutto Gustoso. Visitors at the shop- ping center can expect to see signage, wayfinding and tenant upgrades, the release states.
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1 The Village at Allen • Acquired by Sterling Organization • Announced March 30 • 190 E. Stacy Road, Allen 2 Watters Creek Village • Acquired by Town Lane and Gillon Property Group • Announced April 1 • 970 Garden Park Drive, Allen
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