Sterling Organization Sells Roswell Market Center in Georgia
Roswell Market Center ● 1580 Holcomb Bridge Road, Roswell, GA 30076 (Atlanta MSA) ● Photo Credit: Sterling Organization
WEST PALM BEACH, Fla., June 19, 2024 (VSNewsNetwork.com) - Sterling Organization, a private equity real estate investment firm specializing in retail and consumer fulfillment properties, has announced the sale of the Roswell Market Center in Roswell, Georgia. The transaction, managed by Sterling, involved the sale of the property for $8.63 million.
The Roswell Market Center, located at 1580 Holcomb Bridge Road, is anchored by a 28,809-square-foot Auto Zone and a 13,362-square-foot Dollar Tree. Additionally, the property is shadow anchored by a 102,000-square-foot Home Depot. Situated 20 miles north of downtown Atlanta, the market center is strategically positioned at the northwest corner of Holcomb Bridge Road and Holcomb Woods Parkway. The surrounding area boasts a population of over 78,000 within a three-mile radius, with an average household income exceeding $166,000.
Brian Kosoy, Managing Principal, President, and CEO of Sterling Organization, expressed satisfaction with the transaction, stating, "We are very pleased with the outcome of this deal from a financial perspective. Our team has worked tirelessly to transform Roswell Market Center into an energized, thriving, retail asset. We are proud of the job our team has done growing occupancy to 97% after having purchased the property at 55% leased."
Jordan Fried, Principal of Sterling Organization, extended gratitude to Jim Hamilton and the JLL team for their assistance, adding, "We wish the purchaser all the best with this great asset. They were a great group to work with and we are grateful for their professionalism throughout."
Sterling Organization and its affiliates currently own and manage 72 properties across the United States, encompassing over 12 million square feet of primarily retail real estate, with an overall value exceeding $2 billion.
For more information, visit www.sterlingorganization.com.
Source: Sterling Organization via Newswire
