The Marketplace at Highland Village

The Marketplace at Highland Village

Dallas, Texas

Acquisition date: January 2024


Download profile

Occupancy Rate


Square feet acquired



Dallas, TX

Acquisition date

January 2024

Property Sector

Community Shopping Center

Highly occupied and visited open-air community shopping center.

Overall thesis:

  • Open-air shopping centers at highest occupancy level in 16 years(1)

Property/Market highlights:

  • Dallas benefitting from favorable economic policies, has seen population grow 4x the national average since 2018(1)
  • Rapidly growing high-income sub-market and adjacent to strong Walmart Supercenter
  • 4.3 million visits in 2022(2), making it the most visited shopping center within a 10-mile radius

Operating partner:

  • Sterling Organization, a shopping center operator and investment manager with a $1.9Bn portfolio across 72 retail properties and 12 MM square feet

Open-air community shopping center in economically strong and highly residential suburb

The Marketplace at Highland Village is a 451,000 square foot open-air community shopping center built in 2006, that includes a Walmart-owned Supercenter. The acquired premises comprise 207,000 square feet and are 93% occupied by tenants including TJ Maxx, HomeGoods, LA Fitness, DSW and Petco. The highly visited retail property benefits from its rapidly growing high income sub-market, strong tenant lineup and cross-shopping traffic generated by the only Walmart in the sub-market.

The Marketplace at Highland Village is CNSREIT’s first acquisition and highlights its initial focus on well-anchored, necessity-driven shopping centers. The acquisition was made through a joint venture with Sterling, a real estate investment firm focused on shopping center properties in the U.S. Sterling will serve as the operating partner and property manager.

We believe the Marketplace at Highland Village represents an attractive investment opportunity given its dominant position at a critically important retail node serving a very desirable submarket. We are also excited to enter this partnership with Sterling and believe they are the partner of choice given their national footprint, 25-year track record and our teams’ strong history of working together on shopping center investments.

James S. Corl, Chief Executive Officer of CNSREIT and Head of the Private Real Estate Group at Cohen & Steers
The Marketplace at Highland Village
The Marketplace at Highland Village
The Marketplace at Highland Village
The Marketplace at Highland Village
The Marketplace at Highland Village
Non-traded REITs: New fund structures improve fees, liquidity and transparency
November 2023 | 18 mins
NAV REITs now account for 99.9% of fundraising for NTRs as demand climbs

What we believe investors should know about Non-Traded REIT redemptions
December 2022 | 11 mins
Recent redemption limits placed on some notable Non-Traded REITs (NTRs) are generating headlines, but we believe there are several points investors may be missing. We do not think this reflects broad economic or systemic risk. Rather, this demonstrates how, as expected, listed real estate typically leads the private market in both selloffs and recoveries.
Read why we believe recent news that NTRs limited redemptions underscores the opportunity we see in listed real estate.

Sign up to get CNSREIT alerts delivered to your inbox