Sterling Organization Acquires 1890 Ranch Retail Center in Cedar Park Through Joint Venture With Cohen & Steers Income Opportunities REIT Inc.
Sterling Organization has acquired 1890 Ranch, a 441,620-square-foot retail center in Cedar Park, Texas, through a programmatic joint venture with Cohen & Steers Income Opportunities REIT Inc., JLL Capital Markets announced June 17, 2026. JLL represented the seller, Endeavor Real Estate Group, in the transaction and also arranged a fixed-rate, five-year acquisition loan through MetLife Investment Management on behalf of Sterling Organization. The purchase price was not disclosed.
Transaction Details
The property is located at 1335 E. Whitestone Blvd. in Cedar Park, at the intersection of Highway 183 and E. Whitestone Blvd. JLL's Investment Sales and Advisory team representing Endeavor Real Estate Group was led by Senior Managing Directors Barry Brown and Chris Gerard and Director Shea Petrick. The JLL Debt Advisory team that arranged the acquisition financing was led by Senior Managing Director Chris Drew, Senior Director Mike DiCosimo and Analyst Aaliyah St. Louis.
The acquisition financing was structured as a fixed-rate loan with a five-year term, secured through MetLife Investment Management. The loan amount was not disclosed. Sterling Organization completed the purchase through a programmatic joint venture with Cohen & Steers Income Opportunities REIT Inc.
Property Overview: 1890 Ranch in Cedar Park
1890 Ranch is a retail center spanning 441,620 square feet along the Whitestone retail corridor in Cedar Park, a northwest suburb of Austin located approximately 20 minutes from downtown. The property is 99% leased and has maintained occupancy above 98% since 2022. According to JLL, occupancy along the Whitestone retail corridor has remained above 94% since 2012, and rental rates have increased 37% since 2015.
The center's tenant roster includes Academy Sports + Outdoors, Ross Dress for Less, Burlington, PetSmart, Natural Grocers, Cinemark, Crunch Fitness, Office Depot and Dollar Tree. Shadow anchors at the property include Super Target, Hobby Lobby, Ashley Furniture Homestore and Mardel. JLL reported the center attracts 9.9 million annual visits, which it said ranks the property in the top 1% of shopping centers nationwide.
The property serves a trade area of 220,379 people within a five-mile radius, with an average household income of $166,740 and annual consumer spending power of $13.5 billion, according to JLL. The greater Austin metropolitan area encompasses more than 2.5 million residents accessible from the property's location.
About the Firms Involved
Sterling Organization is a vertically integrated private equity real estate investment firm headquartered in West Palm Beach, Florida. The firm and its affiliates own 77 properties across the United States, encompassing approximately 14 million square feet and exceeding $3 billion in value, according to the company.
Endeavor Real Estate Group is a vertically integrated commercial real estate investment, development and operating platform based in Austin, Texas. Since 1999, the firm has developed, acquired and/or is developing more than 29.9 million square feet of commercial real estate and currently manages 9.4 million square feet, with 1.1 million square feet under construction. Notable Austin projects include Saltillo, Domain NORTHSIDE and The Quincy.
Cohen & Steers is an investment manager specializing in real assets and alternative income, including listed and private real estate. Founded in 1986, the firm is headquartered in New York City with offices in London, Dublin, Hong Kong, Tokyo and Singapore. Cohen & Steers Income Opportunities REIT Inc. served as the capital partner in the joint venture with Sterling Organization for this acquisition.
JLL (NYSE: JLL) is a commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries, according to the firm. JLL's Capital Markets group includes more than 3,000 specialists worldwide with offices in nearly 50 countries.
Market Context
Cedar Park has been identified as one of the fastest-growing cities in the United States, according to JLL's announcement. The property's position along the Whitestone retail corridor, combined with the market's sustained occupancy and rental rate growth metrics cited in the release, formed the backdrop for the transaction. According to Sterling Organization, the firm has over $1 billion of buying power across various investment strategies and is actively seeking investment opportunities.