Sterling Organization Sells Bluffs Square Shoppes in Jupiter, FL, for Nearly $40 Million

Aerial of Bluffs Square Shoppes in Jupiter, FL

JUPITER, Fla., July 13, 2023 (VSNewsNetwork.com) - Sterling Organization, a private equity real estate investment firm, has announced the successful sale of Bluffs Square Shoppes for $39.05 million. The shopping center, located in the affluent submarket of Jupiter in Palm Beach County, Florida, features a 39,795-square-foot Publix grocery store and a 13,000-square-foot Walgreens Pharmacy.

Acquired by an Investment Fund managed by Sterling in 2019 for $25.78 million, the 123,917-square-foot property was 98% leased at the time of the sale. Its prime location, situated just a quarter mile from the Atlantic Ocean, and the high-income demographic in the area contributed to its appeal to investors.

Brian Kosoy, Managing Principal, President, and CEO of Sterling Organization, expressed satisfaction with the outcome, stating, "The sale of Bluffs Square Shoppes highlights the demand for quality grocery-anchored shopping centers among investors." The transaction reflects the successful execution of Sterling's business plan and a substantial return for investors.

Sterling Organization owns and manages a diverse portfolio of properties across the U.S., totaling more than 12 million square feet of primarily retail real estate. For more information about Sterling Organization, visit: www.sterlingorganization.com.

Source: Sterling Organization via Newswire