KOBALT INVESTMENT COMPANY AND THE RETAIL CONNECTION ACQUIRE SHERMAN COMMONS

SHERMAN, Texas, April 30, 2025 /PRNewswire/ -- The Dallas-based commercial real estate firms Kobalt Investment Company and The Retail Connection have acquired Sherman Commons, a 275,477 square foot power center in Sherman, Texas. The 98% occupied center is anchored by Academy Sports + Outdoors, Kohl's, Five Below, Ulta, Office Depot, and PetSmart.

"Sherman Commons represents an exceptional investment opportunity with its strategic location, strong tenant roster, and meaningful growth potential," said Ginnie McCorkle, CFO and Partner at Kobalt Investment Company. "The economic trajectory of Sherman, which is rapidly becoming known as 'The Silicon Prairie,' made this an especially compelling acquisition."

The property is positioned to benefit from the ongoing growth in Sherman, driven by major investments from Texas Instruments (a $30 billion semiconductor facility creating 3,200 jobs) and Global Wafers (a $5.1 billion silicon wafer plant adding 1,700 jobs). The acquisition includes two vacant outparcels for future development.

"Sherman Commons is located in the prime retail intersection for the entire Sherman region," said Alan Shor, Co-Founder and President of The Retail Connection. "Using our deep tenant relationships, we will bring exciting new retailers to the property while enhancing the overall shopping experience for the community."

Andy Crosland, Founding Partner of Kobalt Investment Company, added, "Our partnership with The Retail Connection creates the perfect blend of investment strategy and retail expertise to maximize Sherman Commons' potential as the region undergoes transformational growth."

About Kobalt Investment Company
Kobalt Investment Company focuses on acquiring, leasing, and managing retail centers in high-growth markets, creating value through accretive leasing and strategic redevelopment. For more information, visit www.kobaltinvestco.com.

About The Retail Connection
The Retail Connection represents more than 300 retail, restaurant, and entertainment chains across the country and over 30 million square feet of retail properties in Texas and surrounding states. In addition, TRC's investment platforms include development, acquisition, and merchant banking. For more information, visit www.theretailconnection.net.

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SOURCE Kobalt Investment Company