MARKET AT VILLAGE CENTER SELLS FOR $17M

CINCO RANCH — Palm Beach, Fla.-based Sterling Organization and Canada-based RioCan have acquired the 97,761-square-foot The Market at Village Center, a Class A retail power center located at the northwest corner of Grand Parkway/Highway 99 and Westheimer Parkway in the 7,600-acre master-planned Cinco Ranch. Sterling purchased the center for $17 million from Houston-based Property Commerce in an off-market transaction. The property is 97 percent leased to tenants such as HomeGoods, Michaels, OfficeMax, Mattress Giant, Massage Envy, RadioShack, Supercuts, Sally Beauty Supply and Which Wich.